Tag Archives | Management

Essay on Management Principles: Meaning, Nature and Universality

After reading this article you will learn about:- 1. Meaning of Management Principles 2. Nature of Management Principles 3. Significance 4. Universality. Meaning of Management Principles: Principle refers to fundamental truth about a concept that provides guide to action. Principles evolve in every field of knowledge — medicine, engineering, accountancy etc. Management principles tell about administration of business, that is, [...]

By |2016-08-09T07:56:40+05:30August 9, 2016|Management|Comments Off on Essay on Management Principles: Meaning, Nature and Universality
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Notes on Functional Areas of Management

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 [...]

By |2016-08-09T07:56:39+05:30August 9, 2016|Management|Comments Off on Notes on Functional Areas of Management
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Basic Functions Performed by Managers in an Organisation

This article throws light upon the five basic functions performed by managers in an organisation. The functions are: 1. Planning 2. Organising 3. Staffing 4. Directing 5. Controlling. Function # 1. Planning: "Planning is selecting information and making assumptions regarding the future to formulate the activities necessary to achieve organisational objectives." — Terry and Franklin "Planning involves selecting missions and [...]

By |2016-08-09T07:56:39+05:30August 9, 2016|Manager|Comments Off on Basic Functions Performed by Managers in an Organisation
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