The two merits of external recruitment are given below:
1. election from external sources facilitates the choice of personnel from a large number of applicants.
2. The enterprise greatly benefits from the freshness of outlook and approach of personnel chosen from external sources.
(b) Bank draft is a type of cheque which is drawn by a bank either on its own branch or on another bank. In order to remit money through a bank draft, a person first obtains the bank draft from the bank. The draft commission is paid in advance by the sender of the bank draft. The payment of an uncrossed bank draft can be collected at the center of the bank on which it is drawn.
(c) Business ethics is the written and unwritten code of principles and values that govern decisions and actions within a company. The purpose of business ethics is to guide the managers and employees in performing their jobs.
(d) The following are the reasons for the growing importance of Public Relations to business enterprises:
1. The development of an astoundingly vast and intricate network of mass communication media
2. The increasingly keen competition in the world economy has imposed a regard for public opinion and an urgent need for public support.
(e) The General utility functions of Commercial Banks are:
1. Issuing letter of credit and standing as surety for customers.
2. Accepting and discounting bills of exchange of exporters.