THE BUSINESS AGE

Articles vol 9 issue 2

Article: 1

RESOURCE: MEANING, CONNECTION WITH WEALTH, DISCARDED IDEAS, MISCONCEPTIONS, RESISTANCE AND NEUTRAL STUFF

Dr. Amandeep Kaur

ABSTRACT

Resource popularly signifies a source or possibility of assistance, an expedient, means of support, means to attain given end, capacity to take advantages of opportunities and that upon which one relies for aid, support or supply. Resource may be tangible as well as intangible substances. Anything satisfying human wants can be termed resource – be it tangible or intangible. Wealth is synonymous with valuables i.e. it should be scarce while resource may be ubiquitous or abundant, e.g. sunshine, air etc. So, all wealth is resource but all resources are not wealth. Resource incorporates much more than wealth in a sense that culture, technology, innovative power, skill and different other aspects are included in the realm of resource. Considering resource a static or fixed asset was another misconception in those days. In reality, the potential ability of resource cannot be measured precisely, as, always, it may increase with improved technological advancement. Zimmermann opined that resource is as dynamic as the civilization itself. Early geographers were totally ignorant about the property of resistance hidden within things or substances. If resourcefulness is considered as positive aspect of resource, resistance is the opposite to that of resource like assets or liabilities or profit and loss. Anything or any process that restricts substance becoming resource is called neutral stuff. A neutral stuff should not necessarily remain neutral forever. What is considered neutral stuff today may transform into resource tomorrow. Man’s knowledge, wisdom and technological innovation may transform neutral stuff into precious resource.

Key Words: Resource, wealth, resistance and neutral stuff.

http://www.thebusinessage.in/article-1

Article: 2

SUSTAINABLE DEVELOPMENT: DEFINITION, MEANING, OBJECTIVES/ GOALS, INNER AND OUTER LIMITS, RECENT EFFORTS AND APPROACHES

Dr. Aamarpali Roy

ABSTRACT

The term sustainable development has undergone extensive discussion in various international summits, such as the IUCN Reports (1980, 1990) and the World Commission on Environment and Development (WCED) Report Our Common Future (1987). The renowned Brundtland Commission, named after the Norwegian Prime Minister Gro Harlem Brundtland, prepared this report, prescribing sustainability as the only viable pathway to mitigate the growing threats facing the survival of humanity.

Despite differing opinions among countries, commissions, and international agencies, the core objectives of sustainable development are widely recognized. These include the provision of basic human necessities—food, shelter, clothing, healthcare, and education—with minimal disruption to natural ecosystems. Preserving biodiversity and the environment for future generations is essential, as is ensuring that both individuals and nations are integrated into the process of sustainable development.

Barbara Ward, a prominent environmentalist and strong advocate of sustainable development, introduced the terms inner and outer limits of sustainability to highlight the various limiting forces impeding this process. According to global conventions and research institutions, sustainable development must follow defined approaches, including environmental appraisal, environmental impact estimation, natural resource accounting, and aligned governmental and economic policies.

Key Words: Sustainable development, ecology and environment.

http://www.thebusinessage.in/article-2

Article: 3

HUMAN RESOURCE MANAGEMENT: A COMPREHENSIVE REVIEW OF FUNCTIONS, PRACTICES, AND STRATEGIC IMPACT

Dr. Shaifali Rachna Puri

ABSTRACT
Human Resource Management (HRM) has come a long way from its early days of simply managing payroll and employee records. Today, it’s a key driver of organizational growth and culture. This article takes a closer look at how HRM has evolved into a strategic partner that supports every stage of the employee journey—from hiring and training to performance reviews and compensation. It also explores how modern HR practices like talent management, diversity and inclusion, employee engagement, and data-driven decision-making are reshaping the workplace. As technology advances, globalization expands, and workforce expectations shift, HR is no longer just a support function—it plays a central role in achieving business success. Drawing from both current research and real-world insights, this article offers a well-rounded understanding of HRM’s modern role in organizations.

Key Words: Human Resource Management (HRM), administrative personnel, recruitment, selection, training, performance appraisal, compensation, employee relations, and compliance with labour laws.

http://www.thebusinessage.in/article-3

Article: 4

MULTIPURPOSE PROJECTS OF INDIA

Dr. Aamarpali Roy

ABSTRACT

Multipurpose projects are essentially a post-independence phenomenon in India. Prototype of U.S.A.’s Tennessee Valley Authority, DVC project was one of the very few composite projects, consisting of irrigation, flood protection measures, hydel power projects etc. The most ambitious project to control large barren semi-arid tracks of the North West India into lush green agricultural fertile field, Bhakra Nangal project was one of the largest multipurpose projects of modern India, constructed over the River Sutlej. Mahanadi is the lifeline of Odisha. It enters Odisha from the highland of Naraj. The rapid fall from considerable height provoked planners to erect this monumental dam at Hirakud. To facilitate power and irrigation to the extensive tract of Karnataka and Andhra Pradesh, Tugabhadra project was launched. The principal object of Kosi project was to control the annual flood, followed by power generation and irrigation to the neglected Saharsa and Purnea districts of Bihar. Rihand project is the first of its kind in the upper Ganga Yamuna plain Chambal project is essentially a multi-state venture. The project site is located within Madhya Pradesh. The other beneficiary state is Rajasthan. The Rive Gandak, after debouching from Nepal, Himalaya, has been tapped in Champaran in Bihar in its left bank and Gorakhpur in Uttar Pradesh in its right bank. This is a joint venture by Nepal and India. Nagarjuna Sagar project is the biggest river project in Andhra Pradesh.

Beas project was constructed as the extension of earlier projects like Bhakra-Nangal project.

Key Words: Multipurpose projects, agriculture, fishing, tourism and hydel power.

http://www.thebusinessage.in/article-4

Article: 5

ATTRIBUTES OF ACCOUNT IN FACT ACCOUNTING

Dr. Anamitra Roy

ABSTRACT

One can install as many accounts as she/ he likes through the account option on the main menu bar. The creation of an account (i.e. installing a new account) in FACT accounting for Windows involves certain inputs. Meaningful initials will have to be entered within three characters. The short name for the account has to be entered. This can be a maximum of 15 characters in length. The user may install sample masters data to help her/ him to get started. She/ he has to choose the sample template (to be used for installing the masters) from the available options viz. Sample Data, Manufacturing Sample Data, Tours and Travels Companies, or Personal Accounting. However, the reverse is possible (i.e. changing the ‘No’ option to ‘Yes’.). While modifying, it may happen that the user wishes to enter some information e.g. the reason to modifying an account. Under such circumstances, the user has to click the ‘Notes’ button at the bottom of the account. Then the user has to modify the window and enter necessary information within the account. This is a step towards the direction of providing the user the complete control over the usage of the data. The user can specify this range only if the user has logged on to the system as manager.

Key Words: Attributes, account and FACT accounting.

http://www.thebusinessage.in/article-5