External analysis of business is concerned with identifying opportunities and threats and strategic questions that affect key factors of successful performance. Such analysis is necessary for strategy formulation and management in all fields of activity including marketing activity of an organisation. This analysis is mainly concerned with the study of external environment in which a business firm operates. The components [...]
The various problems relating the establishment of a new enterprise are: 1. Promotion of Business 2. Investigation 3. Form of Business Organisation 4. Adequate Capital 5. Size of Business Unit 6. Selection of Site 7. Plant Layout 8. Efficient Management 9. Launching an Enterprise. Problem # 1. Promotion of Business: It is the first stage in the establishment of a [...]
Following are main six classes of schools of management thought specified by Frank P. Carraecioto: 1. Process School or Traditional School 2. Empirical School 3. Human Behaviour School 4. Social System School 5. Decision Theory School 6. Mathematical or Quantitative Management School. 1. Process School or Traditional School: This approach is also known as operational approach, universal approach or classical [...]