Cseet Free | Business Communication | Lec 7 | Oct 26 & Feb 27 | CA Mayur Agarwal

[00:00:03]Okay guys a very very very good evening how are you how are you friends tell me fast I am waiting for your response good evening Tripathi good evening Priyanshu good evening so guys yesterday we talked about business report what is a business report the word report comes from the Latin word reporte reporte means to go back and porte means to carry forward so those who were not in that event okay can you hear the voice clearly let me have a mic here ok let me have a mic here yes yes yes yes so those who were not in that event and now they want the information of that event we will call it report report.

[00:00:59]Ok. So many times we need a report.

[00:01:03]So if you see, yesterday I told you about the business report. The Latin word is report. Re means back porte means to carry forward. Whatever has happened has to be carried forward. So now if someone who is not present at an event wants news about it, then we will call it reporting and this is a way of giving information.

[00:01:25]Correct guys? So I wrote you a memory technique called Clever College Students Really Invent Fun Reasons to Postpone Studying. So here you have to understand that it comes in different ways.

[00:01:38]Compliance Report, Corporate Governance Report, Sustainability Report, Recommendation Report, Investigation Report, Feasibility Report, Periodic Report and Situation Report. Such different reports are generated here. Can you all hear my voice clearly? What, tell me a little bit, I want to know whether you can hear my voice or not, fast, good evening, correct, so now we will move ahead, when will the report be effective, when the report is in a proper format, is objective, is to the point, okay, it is a useful report.

[00:02:25]Provides a summary. It is created after collecting a lot of data. And if the information that is needed is available. So that is the good report. So a good report comes with a format analysis collection of data summary.

[00:02:42]There is an objective of report, use of report and all required information are available at one place. We will call it an effective report. The report has three parts. There is a summary, proper main body and recommendations. In the summary we say what we found out? What did this report reveal? What report was made in the summary and why? The main body contains complete information. And now what recommendations do we want to suggest? What path do you want to give? This comes to you in the recommendation.

[00:03:18]Is it clear to you till here guys?

[00:03:20]Yes or no? It is correct. So, this is your effective report. is it done. The report is divided into parts. Ok? The report has been typed. The report has been interpreted. I am waiting. Can you tell me quickly, is it clear till here? So today I will move forward. I will teach you.

[00:03:37]Today this chapter will almost end today and tomorrow. Ok? So we are going to compile these chapters today and tomorrow.

[00:03:42]Ok?

[00:03:44]You will pay attention. So now see, first of all if I am talking about inter and intra departmental communication, I had explained the formats of inter and intra departmental communication. There are four types of inter and intra departmental communication. There are four types of these: memorandum, office order, office circular and office note. See Memorandum, Office Order, Office Circular and Office Note. Sir, what is an office note? When one department communicates with another department, it is called office note. One department, another department. Today itself we are sitting on chapter compilation. Son, when one department communicates with another department, it is called office note. Is the production department okay? If he communicates it to the Finance Department, we will declare it as an office note. Are you getting it? So Tripathi very soon give me tomorrow's time.

[00:04:45]So by tomorrow I will try to share the driving force of the notes. Ok? When one department communicates with another department, it is called an office note.

[00:04:54]Correct guys. Ok? When you change the rights and obligations of an employee, it will be called an office order. Let me show you office order. Then comes its formats.

[00:05:05]Look at this office order. Office Order Look at this Office Order has similar format to memorandum. But generally it deals with the rights and privileges of employees.

[00:05:20]When we change the rights and privileges of an employee, we call it office order.

[00:05:27]Correct guys? So I am repeating it. There are four types of inter and intra departmental communication. First is office circular, office order, office note and if I talk about memorandum. Correct guys? So, first of all, when any rights of privileges change, we will call it office order. What will you say? Office order and after that when you want to say something to the large employees, want to give some news to everyone.

[00:05:57]Circular Decriminalizing Ination to Large Number of Employees. If you want to communicate something to a large number of employees, how will we declare it?

[00:06:13]Will declare office circular. Are you getting this?

[00:06:17]Yes or no?

[00:06:26]When we communicate something to a large employee, what will we say to him?

[00:06:31]They will say circular. What will you say? Circular. Ok?

[00:06:34]So when you are changing someone's rights of privileges.

[00:06:37]Ok? That will be called office order. One person was promoted. If a person is promoted then this officer will come in the order. When you said every Saturday we will follow casual wear.

[00:06:52]Every employee will come wearing casuals.

[00:06:55]So what has happened, son? That is basically an office circular. And idealistically from talking about okay? There's a way around here, right? The remaining thing that you are telling the employee is neither in the circular nor in the order, so we call it office memorandum. Anything you want to communicate if you wake up tomorrow. So that remaining thing will come in the office memorandum. And what is an office note? Office note means when two different departments are communicating then what will we call it? That is basically what the office will declare as a note.

[00:07:31]Do you understand this point? Tell us faster in the comment section. I am repeating. Inter and intra departmental communication: When one employee is saying something to another employee within the department, that is intra and one department is saying to another department, that is inter. So inter and intra departmental communication. Do you understand what I am saying? There are four types in it. The first type is memorandum, office order, office circular. Ok? In this way, these are four types and are office notes.

[00:08:04]When one department tells something to another department, we call it office.

[00:08:10]What will you say? Office note. Very clear guys.

[00:08:12]When one department says something to another department, the office notes will be used. When changing the rights of an employee, it will be called office order. When you are communicating to large employees, you will say out of office circular. And whatever is not covered here, all other things will be declared in the memorandum.

[00:08:31]Where will it be declared? To be declared in the memorandum. I am practicing its formats very well. Do it guys.

[00:08:39]Now I am coming to MIS Management Ination System. What am I saying? I am coming to a topic MIS.

[00:08:46]MIS Management Information System.

[00:08:49]Well, before that, whatever office circular you are making, generally there is no salutation complimentary close in it. There is a date etc. Ok? Too is not so detailed. There is no inside address. You have to write in polite language only. You have to write in curtious language only. This is clear. Now I am explaining MIS to you.

[00:09:07]Tell us in the comment section what you know about MIS? I am waiting for you for 1 minute. Ok?

[00:09:13]Tell us in the comment section what you understand by MIS system? Waiting for your response.

[00:09:35]Ok guys tell me what you have understood from MIS system.

[00:10:13]MIS Okay so what is MIS?

[00:10:17]Management Information System Sir, wow, we knew this but what does it mean? Management people need information to manage. Now for example, I have to manage the You No Strike.

[00:10:31]So I need to know how many people are there? How many police have to be sent?

[00:10:36]What arrangements have to be made? So who is any management to me? You read about management, who gets the things done, who gets the work done, that is management, who gets the things done through others, the one who gets the work done by others is called a manager, he does not work himself, he gets it done, that is correct, this is called management, now look at me, I do not work in my office, I am so sad in life, so you have to understand that if I am getting the work done then who am I, the manager, so the one who gets the work done by others, we call him manager, that is correct, now my back end staff started laughing. I am enjoying it again. Is n't it okay? After that, okay? The manager has to take a decision. Now, how many income tax do I have to file in my office? How many are pending? How much work needs to be done? What files have to be filed and by what date? So I need some information. What is information? Data which is processed into valuable information. So when a raw data is processed and converted into correct value, it is called ination.

[00:11:39]And these are systems that provide information.

[00:11:42]What does system mean?

[00:11:44]When five or six things work, when the powers of the entire universe work, it is called a system. Let me talk about computer systems. Now what happens in a computer system? There is a monitor in which you see there is a mouse which you select. There is a keyboard that you type on. There is a CPU which is the brain.

[00:11:59]If even one of these things is missing.

[00:12:02]Printer is like what prints. If you have everything but don't have a monitor, how will you watch it? I have a good monitor but no keyboard, so how will I type? If you have a good keyboard but no mouse, how will you select? Well, everything is there but there is no CPU, so the system is a lot of things, all working together, each one is important, each component is important, so you know that in the system that collects information, there are people, there is hardware, there is software, there is process, all those people together collect data and give information and that information is used for management, such a system which converts data into information and gives it to the management.

[00:12:43]We call this Management Information System. What do we say?

[00:12:48]Management Information System. Do you understand this? So first of all see what is management?

[00:12:56]What is management? So we will go step by step for 1 minute. Look, there are three parts.

[00:13:02]Management means the art of getting things done through others. Getting work done from people, making policies, arranging money. Managers are those who do planning, organizing, directing and controlling. Is it correct? The one who does the planning, organizing, directing and controlling is a manager. Is n't it okay? So the one who makes the policy, arranges the main material. Ok? This is management. They need information. Where does information come from?

[00:13:28]Information comes from processing data.

[00:13:31]And system is components all working together.

[00:13:37]What do we declare when all the components work together? The system will declare. Waiting for your rise Yes Guys Are You Getting It? Did you understand this? did you understand it? Management Information System Short term long term is not the issue. The difference in cell values ​​is. Yes guys waiting for your response fast so management ination system management is the art of getting things done through people making policies arranging men machines materials okay putting them into operation getting them to perform okay planning organising directing controlling planning policy process making organising arranging people directing home getting work done from them and checking whether what we said was achieved or not controlling so you are already studying management.

[00:15:44]After that, if they have to do any planning, organizing, directing or controlling, then they will need information.

[00:15:50]What is information derived from processing data which convert the raw data into meaningful user and system is nothing but a component all working together is called as a system. We are calling this Management Information System. Correct guys? Now the Management Information System works at all three levels. Strategic level, okay? Tactical level, operational level. You say top level, middle level and lower level. Now it works on all three levels.

[00:16:18]Look at this, first of all the top level.

[00:16:22]Who lives on the top level? Board of Directors, Chairman. Ok? They mostly look at the external world to see what trends are coming? What is the impact of AI? What will be the impact of World War? What will happen to the war that is going on?

[00:16:33]It mostly studies external matters rather than internal ones and is accountable to the entire company. They set goals, create strategies, plan their finances, and the information they need is futuristic information. Need forecasting information. The uncertainty factor is that he thinks about the next 10 years.

[00:16:49]Ok? And they can maintain control to some extent. So this is the top level which we also call strategic level.

[00:16:56]What do we say? It is also called strategic level. Correct guys? So you see, whatever MIS there is, it is working at all three levels. Strategic level okay in information level and as well as top level is it right guys are you getting are you getting right guys.

[00:17:49]I'm waiting for you to resond.

[00:17:55]Repeat again. So whatever MIS there is, it gives information at all three levels. Strategic level, tactical level, we also call strategic level as top level. Also called tactical level. They say middle level.

[00:18:08]We call the end operational level as supervisory level.

[00:18:10]So look at this, first of all the top level.

[00:18:13]This includes the Chairman and Board of Directors.

[00:18:15]They study more about external background.

[00:18:17]They are accountable for the whole company. They set goals, create strategies, and create financial frameworks.

[00:18:23]This is dependent on futuristic data. It depends on uncertainty factors.

[00:18:28]And they have some control.

[00:18:30]Ok? Who comes in the middle level? Generally managers come from head managers.

[00:18:35]This is the administrative layer. They implement the policy. Whatever the people at the top say, they get it implemented. This is a bridge. Coordinates between top level and operational level people.

[00:18:47]They need a lot of internal data. And they control the company. That is basically middle level. And then comes the lower level. Ok? So lower level that is supervisory level. This includes base level senior officers, managers, superintendents.

[00:19:02]Who all come? Look who all come? Senior officers, managers, superintendents, foremen, all of them come.

[00:19:09]Ok? Their responsibility is to run the day to day activities. So this MIS works on all three levels. Which three levels? Strategic level, tactical level and operational level. Are you getting this?

[00:19:25]Are you getting this? Are you getting it, so look at this, T level, top level is fine, middle level, supervisory level is correct, now how should MIS be. Your MIS should be comprehensive. Your production should cover all the data of all of them in your system. It should cover comprehensive sub-levels like production, finance, marketing and customer feedback.

[00:20:52]Ok? Its sub-systems, as is often the case in a company, are SAP, SAP Finance, SAP Marketing. So there should be small parts also. So first of all, everything should be covered in your MIS.

[00:21:05]Everything is being covered. Then it should have your smaller smaller parts. Then we should keep sharing that data among ourselves. The finance guy is sharing data with marketing. The marketing guy is sharing data with production. It should be integrated and you can easily add something and replace something. So first thing is what should your MI system be like. The first thing is to be comprehensive. Everything should be covered.

[00:21:26]For example, when Ambani asks Reliance, "I want to know how many male employees are there in my company whose age is above 50," then MIS should answer.

[00:21:36]Now it is possible that a date will be added to it again. There are so many people in finance, so many people in marketing. There are so many people in total. So we have collected data from small parts from all over the place.

[00:21:45]So first of all you should be comprehensive. All systems should be in place. Ok?

[00:21:50]Must be integrated, must be connected. Like end means somewhere what does modularity mean? We can add up anything and remove anything very easily.

[00:22:00]This should be possible. Yes or no? Are you getting the point? Yes or no? There should be comprehensive subsystems.

[00:22:12]Correct? All systems should be in place.

[00:22:14]Must be integrated and have modularity.

[00:22:16]These are the some qualities to be there.

[00:22:19]After that you should get accurate information about quality criteria.

[00:22:24]If your MIS gives wrong information then the management will take wrong decisions. Relevant information should be given. It is not unnecessary that I asked for only finance data, he gave me the entire data. It is not that the information which has been demanded should come. It should be flexible so that you can change the data as per your requirement and give you feedback on what improvements you need to make in it.

[00:22:44]So now we are studying Characteristics of MIS. The first comprehensive system you should have in Characteristics of MIS is that your MIS should be sub declared. Ok? Individuals are not to be taken. Taking HF is HUF right? After that all the systems should be there.

[00:23:01]Ok? After that it should be integrated that we are sharing data among ourselves.

[00:23:05]What does modular mean? It can be adjusted. Anyone can add information. He can also delete any information. Do you understand this point? Yes and no.

[00:23:18]Guys are you there? Waiting for your response.

[00:23:24]Repeat again, repeat again, first of all your MIS should be comprehensive, it should cover everything, if Ambani asked for any information yesterday, the MIS is giving it, it should be integrated, there should be all the system parts, it should be connected as well, modular means we can add or delete any part, quality accurate information should be given, relevant information should be given, unnecessary waste of time should not be done, after that it should be flexible that you can make any changes, feedback should be given, then if you are seeing that selective sharing here means right person is getting the right information.

[00:23:57]Just for example, yesterday I woke up and sat in the Pune branch. Ok? I am the manager of Pune.

[00:24:02]I need to know the salary of the manager in Mumbai.

[00:24:04]I shouldn't get the information. If this continues, there will be a fight. The right information must reach the right person. It is correct. Centralized data should be in one place and now it is separated separately, right? It should be fulfilled as per the needs of the managers.

[00:24:18]After that he should convert the data into very valuable information.

[00:24:23]Ok? Productive so that work gets done quickly and everything should be online technology based.

[00:24:28]If all these things happen then in that case you should understand that your MIS will be considered better.

[00:24:35]What qualities should one have? This discussion is going on here. Are you listening to it? I am reading your comments.

[00:24:58]Tell me quickly, yes or no? Repeat again. How is your MIS?

[00:25:04]Look at MIS What is MIS? MIS is three things. Management information system. Sir, management means the art of getting things done. Get the work done. He can also write planning, organizing, directing, controlling and staffing, there is no problem. Hey guys, if we have to get better work done from such management today, then what will the management feel?

[00:25:23]Management will need information. What is infection? Data converted into meaningful raw data into meaningful to the user is called as information. And who will do this? The system will do it.

[00:25:33]What does system mean? System is components all working together. Correct? Now the management information system provides information at three levels.

[00:25:41]Is the strategic level correct?

[00:25:44]Tactical level and operational level.

[00:25:45]Strategic level means top level.

[00:25:48]Who all come in the top level? Chairman, MD Directors. Ok? They need external data and they are accountable for the whole company. Why do they need this data? To set goals, to create strategies, to do financial planning. And these information should mostly be futuristic based on forecasting. Ok? Then uncertain information is required and they can maintain some control, at such an stage comes the middle level which we call administrative layer where you see who generally comes and implements the policy, executes it, it is the bridge between the top level and the lower level, they have to keep a lot of internal focus and not external and they think this tactical data, they think this tactical data is correct and after that comes the lower level in which the ground level people, what do they basically do? Perform day to day activities.

[00:26:38]Characteristics of MI Characteristics should be comprehensive.

[00:26:44]All systems should be there.

[00:26:46]Complete everything. There are different parts, they should be integrated. Ok? Quality criteria provide accurate data.

[00:26:51]Give relevant data. Provide flexible data, provide feedback.

[00:26:54]Human Touch Like Coordination is centralized data. Give the data to whoever needs it and convert the data into information very easily. So that it can be faster disease making and completed through technology.

[00:27:07]Check out Are You Understanding My Point of View once.

[00:27:17]Comments Faster Guys waiting for your comments. Are you getting it? Correct. So this is the characteristics of your MIS.

[00:27:55]Now what will be required in an MIS?

[00:27:57]Hardware, software, database. Hardware like computer software which will keep the data, database backup, rule book, who will enter the data and crew means people will be required, software will be required, hardware will be required, database backup will be done and procedure, who will enter the data, all these become its basic requirements, these are the certain requirements, check them once, yes guys are you getting aimins now, what are your drawback limitations. Look, if garbage comes to your mind, garbage in, garbage out, then you will think only garbage. If something good comes out, you will think good. So if you provide correct data in MIS, correct information will come. If you give wrong data, wrong infection will come. Correct guys? Well, no matter how much you say, a human being is more intelligent than an MIS.

[00:29:17]MIS is saying something but we can pass our own judgment.

[00:29:19]We can use our intuition. You can guess. Correct guys?

[00:29:24]Yes. After that if you see this correct. It is possible that he is not studying the qualitative factors as he has given only quantitative data.

[00:29:33]Qualitative means basically if I am talking about the attitude of the person is correct, all these things are there. If the example is that proper MIS is less useful for making non- program decision making. In some places, data is not required for decision making.

[00:29:47]Your experience speaks volumes. Ok? Also, how good or bad MIS will be depends on the company's thinking.

[00:29:53]What is a lot of people? Quit What software to use? Some people say no, no, everything comes in software. So how well MIS will work also depends on the culture of the company. Correct. Could be a good MIS. Correct management change is taking place. Ok? So automatically its instability increases. But if there is management consent then what is MIS?

[00:30:13]Look means in short it rises on the input quality. Better the input, better the output. The first point cannot replace human judgment. This means that the gut feeling and intuition that humans have is not there in MIS. Not even AI has it. AI, MIS almost keep the same. Lack flexibility. Now look, today suddenly there is an example, there is MIS. That data is saying export it. But war will be declared here tomorrow.

[00:30:35]MIS doesn't know about the war and he can't go to the ship. So you should understand that MIS is not flexible enough to suit the changing situation today. It takes time to update. So this is the first thing I am saying. First of all, the better the input, the better the output will be. Secondly, human judgment cannot be replaced by human judgment. Third, there is no flexibility. It is not according to the changing situation. Not fully customizable, minor changes are possible. Major changes cannot be made.

[00:31:04]Poor for Unique Decision Making MIS does not work in some exceptional decision making.

[00:31:08]Depends on the company culture.

[00:31:12]MIS cost is based on how much the company is paying. If the company is paying less then the interest will be less. And due to instability, it is possible that according to the changes in the changing world, MIS may be scrapped or may even become irrelevant. Are you understanding the point of you?

[00:31:39]Are you getting this? Check it out guys.

[00:31:46]Are you getting this?

[00:31:51]Check it.

[00:32:13]Correct I am waiting for your response is it clear guys will move ahead fast. will proceed. Correct. So guys today I have completed your MIS.

[00:33:07]We will take your e-correspondence topic tomorrow.

[00:33:10]Ok? Tomorrow we will try to compile the chapters. Are you understanding the point? Correct? So today we have completed till MIS.

[00:33:16]Ok? Let us meet tomorrow. Ok? Thanks a lot guys. Thank you. Bye. I will be sharing a driving of the notes after 5 minutes of this lecture.

[00:33:24]Ok.