Everything you need to know about the types and classification of planning. The planning covers the entire organization. It is a comprehensive process of determining the long term objective of the organization and evolving inter-connected and interdependent plans to be carried out inside the organization. This plan covers corporate growth, research and development, divestment, unprofitable product/section modernization, expansion, diversification, merger [...]
Everything you need to know about the types of economic systems. Economic system determines the nature of state intervention in the business. Thus, economic system is an integral part of the business environment. Economic System consists of “those institutions which a given people, a nation or a group of nations have chosen or accepted as the means through which their [...]
Everything you need to know about the principles of directing. Direction is the sum total of managerial efforts that is applied for guiding and inspiring the sub-ordinates to make better accomplishments in the organization. It is concerned with the motivate, leadership, supervision and commanding of sub-ordinates and securing their best cooperation. It is an art which is learned from a [...]