Archive | Functions

Quantitative Techniques in Decision Making | Management

Various quantitative techniques for decision making are:- 1. Mathematical Programming 2. Cost Analysis (Break-Even Analysis) 3. Cost-Benefit Analysis 4. Linear Programming 5. Capital Budgeting 6. Inventory Management 7. Expected Value 8. Decision Tree 9. Simulation 10. Queuing or Waiting Line Theory 11. Game Theory 12. Information Theory 13. Preference Theory/Utility Theory and Few Others. Technique […]

Markov Analysis: Meaning, Example and Applications | Management

After reading this article you will learn about:- 1. Meaning of Markov Analysis 2. Example on Markov Analysis 3. Applications. Meaning of Markov Analysis: Markov analysis is a method of analyzing the current behaviour of some variable in an effort to predict the future behaviour of the same variable. This procedure was developed by the […]

5 Main Steps Involved in Organizing Process | Management

This article throws light upon the five main steps involved in organizing process. The steps are: 1. Consideration of Plans and Goals 2. Determining the Work Activities Necessary to Accomplish Objectives 3. Classifying and Grouping Activities 4. Assigning Work and Delegating Appropriate Authority 5. Designing a Hierarchy of Relationships. Step # 1. Consideration of Plans […]

Personnel Management Decisions: 4 Types | Staffing

This article throws light upon the four main types of personnel management decisions. The types are: 1. Promotions 2. Transfers 3. Demotions 4. Separations. Type # 1. Promotions: An important employment decision is promotion. On most occasions human resources are not brought in from the external labour market to fill a specific position, but are […]

Classification of Plans: 4 Types | Management

Plans can be classified in following categories: 1. Standing or Repeated Use Plans 2. Single-Use Plans 3. Enterprise Plans 4. Time Plans. Type # 1. Standing or Repeated-Use Plans: These plans are used again and again and repeti­tive in nature. These are formulated by managers at different levels meant for repeated use as and when […]

Morale: Meaning, Factors and Its Improvement

After reading this article you will learn about:- 1. Meaning of Morale 2. Factors Affecting Morale 3. Forms 4. Measures. Meaning of Morale: Morale is a mental condition and attitude of employees, either individually or in a group which determines their willingness to cooperate. Morale can also be defined as the extent to which an […]

Top 8 Functions of Management

This article throws light upon the top eight functions of management. The functions are: 1. Planning 2. Organising 3. Staffing 4. Directing 5. Motivating 6. Controlling 7. Co-Ordination 8. Communication. Function # 1. Planning: When management is reviewed as a process, planning is the first function performed by a manager. The work of a manager […]

5 Main Steps Involved in the Planning Process

This article throws light upon the five main steps involved in the planning process in an organisation. The steps are: 1. Environment Analysis 2. Determination of Mission and Objectives 3. ‘Developing Strategies’ 4. Developing Programmes or Action Plans 5. Control Mechanism. Planning Process: Step # 1. Environment Analysis: The external environment covers uncontrollable and unpredictable […]

Span of Control: Importance, Principles and Factors

After reading this article you will learn about Span of Control:- 1. Importance of Span of Control or Supervision 2. Principle of span of control 3. Factors Determining. Importance of Span of Control or Supervision: How many subordinates can a manager supervise or control directly? What should be the span or range of control or […]

Departmentation: Meaning and Bases | Organisation Process

After reading this article you will learn about Departmentation:- 1. Meaning of Departmentation 2. Departmentation (Grouping into Sections, Departments and Higher Administrative Units) 3. Bases. Meaning of Departmentation: We have to divide the work to be performed. First we have to group tasks to form individual jobs. This is called arranging the manageable units for […]