Archive | Organisation

Mission Statement: Elements and Characteristics | Management

In this article we will discuss about:- 1. Elements of a Meaningful Mission Statement 2. Characteristics of a Mission Statement 3. Example. Elements of a Meaningful Mission Statement: The mission statement should be a long-run vision of what the organisation is trying to achieve—the unique aim that differentiates it from similar organisations. The need is […]

Organisation Mission and Objectives of a Business | Management

In this article we will discuss about the effects of organisation mission on objectives of a business. An organisation must first establish an overall mission or purpose before it determines its objectives. The organisational mission identifies the function that the organisation intends to perform within its social or economic system. As shown in the diagram […]

Issues Related to Organisation and Management

The implementation of corporate policies and strategies is an extremely complex problem. It is concerned with the application of various conceptual issues relating to organisation and management. Some of them are: 1. Organisational Structures and Processes 2. Organisation Design and Strategic Factors 3. Strategic Choice of Organisation Design 4. Organisation Development (OD) and a few […]

Organisational Objectives of a Company | Company Management

The term ‘objectives’ has been defined differently by different authorities in management literature. Some of them are given below: 1. ‘Objectives here are the statements of planning purpose developed within any kind of business plan. They are established within the framework of a planning process, and they normally evolve from tentative and vague ideas to […]

Sole Proprietorship: Meaning, Characteristics and Scope | Business Management

After reading this article you will learn about:- 1. Meaning of Sole Proprietorship 2. Definitions of Sole Proprietorship 3. Characteristics 4. Scope and Prospects 5. Advantages 6. Disadvantages. Meaning of Sole Proprietorship: This form of organisation is the oldest and functioning from times immemorial in one form or the other. This is a ‘one man […]

Joint Hindu Family Business: Meaning, Characteristics and Advantages

After reading this article you will learn about:- 1. Meaning of Joint Hindu Family Business 2. Characteristics of a Joint Hindu Family Business 3. Advantages 4. Disadvantages. Meaning of Joint Hindu Family Business: The Joint Hindu Family Business is a distinct form of organisation peculiar to India. Joint Hindu Family Firm is created by the […]

Partnership and Joint Hindu Family Business: Difference | Management

This article will help you to differentiate between partnership and joint Hindu family business. Difference # Partnership Business: 1. Formation: A partnership business comes into existence by mutual contact between the partners. 2. Admission of a Member: In partnership, a member is taken into the business by an agreement. 3. Members: Males or Females: In […]

Partnership: Definition, Need and Characteristics

After reading this article you will learn about:- 1. Meaning and Definition of Partnership 2. Need of Partnership 3. Characteristics or Features or Elements. Meaning and Definition of Partnership: Partnership is an association of two or more persons who agree to carry on a lawful business in common with the object of sharing in partnership. […]

How a Sole Proprietors will be Successful against Large Entrepreneur? (6 Factors)

The factors listed below illustrate how a sole proprietor will be successful against large entrepreneur. 1. Normally, a business is stated as one-man venture, because of the many advantages it offers. As the proprietor makes a success of it and is faced with the problem of expansion, he resorts to the formation of the company. […]

Partnership and Co-Ownership: Difference | Management

This article will help you to differentiate between partnership and co-ownership. Difference # Partnership: 1. Contract: Partnership is the outcome of an agreement. 2. Number of Members: In partnership, the number of members cannot exceed the maximum limit. 3. Object: The object of partnership is to carry on some lawful business and earn profits. 4. […]