This article throws light upon the top four functional areas of management. The functional areas are: 1. Production Management 2. Financial Management 3. Personnel/Human Resource Management 4. Marketing Management. Functional Area # 1. Production Management: The term 'production' was closely associated with manufacturing physical goods and, therefore, production management was also known as manufacturing management. Today, goods are not only [...]
Here is a compilation of notes on management. After reading these notes you will learn about:- 1. Meaning of Management 2. Features of Management 3. Objectives 4. Nature 5. Importance 6. Functions 7. Tasks 8. Aspects 9. Levels. Contents: Notes on the Meaning of Management Notes on the Features of Management Notes on the Objectives of Management Notes on the [...]
This article throws light upon the top five principles of scientific management theory suggested by Taylor. The principles are: 1. Rule of Thumb should be Replaced with Science 2. There should be Harmony, not Discord in Group Action 3. Cooperation, not Individualism 4. Maximum Output, not Restricted Output5. Development of Workers to their Fullest Capacity. Principle # 1. Rule of [...]