Several techniques have been developed to make groups more effective at generating innovative and useful ideas. The groups are:- 1. Brainstorming 2. Nominal Group Technique (NGT) 3. Delphi Technique (DT). Technique # 1. Brainstorming: Brainstorming may be defined as "a conference technique (by the formation of a group) of solving specific problems, gathering information, and stimulating creative thinking. The basic [...]
There are several basic kinds of models used for making business decisions. The models are:- 1. Analog Model 2. Iconic Model 3. Verbal Model 4. Mathematical Model. 1. Analog Model: An 'analog' model is a physical representation of the real world. A mock-up of an airplane is an analog model. An architect may place a mock-up of a building to [...]
In this article we will discuss about the evolution and approaches to management thought. Evolution of Management Thought: Art of management is as old as human civilisation. Before the twentieth century there was no systematic study of the subject. Management was considered to be a personal ability. Management was a kind of 'trick' of businessmen which could not be studied [...]