After reading this article you will learn about the Definition and Key Elements of Leadership. Definition of Leadership: Harold Koontz and Heinz Weihrich have defined leadership as the art or process of influencing people so that they will strive willingly and enthusiastically towards the achievement of group goals. In other words, "leadership is the ability to persuade others to work [...]
This article throws light upon the top five models of managerial decision-making. The models are: 1. Rational Model 2. Non-Rational Models 3. Satisficing Model 4. Incremental Model 5. Garbage-Can Model. Model # 1. Rational Model: The rational model of managerial decision-making has its roots in the economic theory of the firm. When theories about the economic behavior of business firms [...]
After reading this article you will learn about Decision-Making:- 1. Meaning of Decision Making 2. Significance of Decision-Making 3. Limitations of Decision-Making 4. Systems Approach to Decision-Making 5. Group Decision-Making. Contents: Meaning of Decision-Making Significance of Decision-Making Limitations of Decision-Making Systems Approach to Decision-Making Group Decision-Making 1. Meaning of Decision-Making: Decision-making describes the process by which a course of action [...]