After reading this article you will learn about:- 1. Meaning of 'Management by Exception' 2. Merits of 'Management by Exception' 3. Principles. Meaning of 'Management by Exception': Trying to control everything may end up in controlling nothing". Managers cannot control every organisational activity. This is neither desirable nor possible within the frame of time, money and resource constraints. If actual [...]
After reading this article you will learn about:- 1. Concept of Quality Circles (QC) 2. Objectives of Quality Circles 3. Merits 4. Factors. Concept of Quality Circles (QC): The concept of quality control originated in the U.S. and was taken to Japan by W. Edwards Deming who marked the beginning of revolution in quality control. As quality control awareness increased [...]
This article throws light upon the top six modern methods of control exercised in an organisation. The modern methods are: 1. Management Information System (MIS) 2. Management Audit 3. Responsibility Accounting 4. Network Techniques - PERT and CPM 5. Balanced Score Card 6. Ratio Analysis 7. Economic Value Added (EVA) 8. Market Value Added (MVA). Modern Method # 1. Management [...]