HR Audit

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 Human resource (HR) audit means the systematic verification of job analysis, job description, job design, records of recruitment and selection, orientation and placement, training and development, job evaluation, performance appraisal, motivation and moral, compensation packages, welfare and social securities as well as industrial disputes and their solutions. Method of Human Resource Interview Method,  Questionnaire Method,  Observation Method,  Desk Research Method,  Workshop Method & Task Force  Objectives of HR Audit: 1. To review the performance of the human resource department and its relative activities in order to assess the effectiveness on the implementation of the various policies to realise the organizational goals 2. To identify the gaps, lapses, irregularities, short-comings, in the implementation of the policies, procedures, practices, directives of the human resource Department and to suggest remedial action 3. To know the factors which...
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concept of Utility

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Utility means it the power to satisfy a want or a desire of a customer.

Measurement of utility
We measure utility in unit which helps to understand consumer behaviour it is useful and analytical distinguish between the two utility concept
Initial utility-it refers utility which is derived by consuming first unit of a commentator utility gained by taking first last of water to quench the third will be initial utility it is also positive
Total utility.  It refers to the sum total of satisfaction I which a consumer is used by consuming the various unit of commodity
Marginal utility-marginal utility that additional unit in total utility which by can be defined as to increase or decrease one or two unit in the rate of consumption
Relationship between total utility and marginal utility
Quantity     TU |    Marginal Utility
1.                10.   |   Initial utility
2.                 18  .|    18 - 10 =8
3.                 24.   |.    24 - 8  6
4.                 28.   |   28 - 4 = 4
5.                 30.   |    30 - 28=2
6.                  30.   |   0
7.                  28.   |   28-30=-2

It is clarified from  diagram that you till total utility increases as were successive unity you  is consume. Red 6th unit total total utility is constant then it will be declining on 17 8 which is 28
It is clarify that from the diagram that total utility and marginal utility start from same point when total utility false marginal utility becomes negative.

Theory of consumer choice
       Approaches of consumer choice
                         |
                       _ |_
Cardinal Utility.   Ordinarily utility 

Introduction of Cardinal Utility

Marshall provides a Cardinal Measurements of utility.It also called Marshallian theory
Higher the price paid buy consumers for a commodity.higher shall be it's utility and vise versa in lower. Price can be measured of utility of number.In this way consumer is assumed to be capable of assign to every commodity.

Assumption of cardinal utility
Consumer is rational being
  • .Consumer poses for perfect knowledge of the price in the market
  • .The choice of goods are certain in market
  • .there are no substitute and the earth the utility are measurable in terms of money
  • . The tastes of consumer do not change
  • .utility of different commodity are independent of each other

in general freakonomics now believe that utility is measurable in cardinal number indeed it was a reaction against an reality of cardinal measurement that gave rise to ordinalism

Criticism of cardinal utility theory

  • . Utility is subjective
  • . Cardinal measurement of utility is not possible
  • .Everycom entity is not an independent commodity
  • . Marginal utility cannot be estimated for all comedies
  • . Marginal utility of money does not remain constant
  • . Do not explain giffen paradox-It has no answer to explain why demand curve of many inferior goods slope up words from left to right


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