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Orientation Program Day-6 Session-2 of Prarambh 2020

Orientation Program Day-6 Session-2 of Prarambh 2020

Prarambh 2020
Day 6, Session II: 12.00 – 2.10 PM
Foundation Session on Economics and HRM

The second session on the sixth day of Prarambh 2020, the Induction Program for PGDM 2020-22, a session on Basic Economics (Foundation course) was held to introduce students with preliminaries of Finance related fundamentals which was followed by an Introduction to HRM to familiarize students with the basics of human resource management.

The session on Basic Economics was conducted by Dr. Ajay K. Patel, Associate Professor-Finance. The objective of the session was to familiarize students with Economics as an area of study and how its understanding is inevitable in making business as well as societal decisions. The session briefly discussed the great economists and their contribution in solving the economic problems. Taking the baseline of the economic problems, the session elaborated on factors of production (Land, Labour, Capital and Entrepreneurship), flow of income, efficiency, scarcity and choice. Through this session, the students gained an understanding of economic problems, factors of production and scarcity of factors of production. The session was concluded with Questions and Answers.

The session on Introduction to HRM was taken by Prof KP Kanchana in which she presented the definition and evolution of human resource management. She also laid emphasis on the advantages of proper management of human resources and the associated drawbacks, if not. She also talked about the skills required for being an effective HR manager along with the career path in an organization. Students put up a few questions and the session ended with a motivational video.