Fredric Winslow Taylor identified that the existing management practices were based on trial and error method. F.W. Taylor is known as father of Scientific Management. Scientific management means the application of scientific methods of study and analysis the ...

Principles are the basic truths generally stated in the form of cause effect relationship. Management principles are the broad guidelines for the managers for decision making. Concept Principles of management are derived on the basis of observation ...

In every organisation, the managers perform certain basic functions. These are broadly divided into six categories: Planning Organising Staffing Directing Coordinating Controlling 1. Planning Planning is deciding in advance what is to be ...

There are certain levels of management with varying degree of authority and responsibilities. Some managers decide about the objectives of the business as a whole; some managers perform functions to achieve these objectives in different departments, ...

1. Management as a Process Management consists of a series of inter-related activities of planning, organising and controlling. All activities are undertaken in a proper sequence with a systematic approach so as to ensure that all actions are directed ...

The existence and success of any organisation largely depends on the kind of management it has. No amount of quality resources is going to help unless they are put to productive use by efficient management. It is because of this reason that management ...

The various characteristics of management are: Management is Universal: It means that management is required for every type of organisation. It may be a business organisation or social or political. It may be a small firm or a large one. Management ...

Meaning of Management Consider a business enterprise, it may be an industry or it may be a trading concern. In both the cases, to start and run the business some amount of money is needed, some materials, few machines and some men are required, and ...

In India, there are different types of small business. They may be categorised on the basis of investment in fixed capital in plant and machinery or on the basis of nature or place of operation. Following are some of the main types of small business: Small-scale ...

The size, capital investment, number of employees, volume of output as well as value of output are the general parameters of measuring a business enterprise. A small business is defined as a business which is actively managed by its owners, operating ...

Before choosing a suitable career in self-employment you must have some idea about the avenues in which self-employment opportunities are available. The categorise of avenues of self-employment are: Trading Manufacturing Professionals Individualised ...

Career is a way of making one's livelihood. Self-employment is also a career because one may employ oneself in business or in service activities and earn one's livelihood. With growing unemployment and lack of adequate job opportunities, self-employment has ...