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Key Management Functions

The entire process of management includes certain key management functions like planning, organizing, leading and controlling. Management is defined as a process which involves responsibility for economical and efficient planning & control of operations of ...

Advantages of Accounting

There are many advantages of accounting and we will discuss that in this article. Accounting is viewed as the language of business, and therefore it offers several advantages to management. Accounting demands recording transactions and ...

Features of Scientific Management

Scientific management attempts to have the maximum from methods, men, materials, machines and money. The main features of scientific management are: Minimize Wastage, Discards Traditional Management, Increases the Productivity of Employees, Importance to Specialization, etc.

History of Management Thought

The history of management thought can be grouped into three basic approaches: classical approach to management theory, behavioural approach to management theory and management science approach. Management has grown in leaps and bounds from a ...

Competency Mapping Process

Competency mapping is a technique of evaluating the good and bad points of an employee or organization. Competency mapping is a process of finding out important competencies necessary to execute successfully a given job at ...

Behavioral Approach to Management

The Behavioral approach to management advanced due to the fact that the managers found that following the ideas of the classical approach failed to attain total efficiency and workplace harmony. The behavioral approach to management ...

Objectives of Accounting

Accounting helps the management to achieve several objectives. This article discusses about the main objectives of accounting. Some important objectives are: to keep accounting records, ascertain the profit or loss, calculate the financial position, ...

Manufacturing Performance Dimensions: Quality, Delivery, Flexibility & Cost performance

It is actually extremely tough to determine manufacturing performance. Dimensions employed to measure manufacturing performance are quality, delivery, flexibility and cost performance. Quality Performance Quality is a multifaceted term and it can be looked ...

Marketing Definitions

Marketing is the process of communicating the worth of services or goods to consumers, with the intention of selling the product or service. Marketing is an approach to link what services and products you are ...

Manufacturing Process Types

A manufacturing process means transforming an array of inputs into those outputs which are needed by the market. Any manufacturing process consists of a number of links in a production chain. At each and ...

Featured Management Articles