This article throws light upon the top twelve theories of management thought developed by famous management thinkers. Some of the theories are: 1. Theory of Peter F. Drucker 2. Theory of Michael Porter 3. Theory of Tom Peters 4. Theory of Michael Hammer 5. Theory of Peter Senge 6. Theory of C.K. Prahlad 7. Theory of Mary Parker Follett 8. [...]
This article throws light upon the ten important features of a sound plan. The features are: 1. Integration 2. Market Research 3. Economy/Financial Constraints 4. Co-Ordination 5. Consistent 6. Flexible 7. Acceptable 8. Participative 9. Based on Planning Premises 10. Effective Communication System. Feature # 1. Integration: A good plan should integrate the short-term requirements of the firm with its [...]
This article throws light upon the four main types of forecasting that are related to external environment. The types are: 1. Economic Forecasting 2. Technological Forecasting 3. Forecasts Regarding Government Policies 4. Sales Forecasting. Type # 1. Economic Forecasting: It is done to forecast the general economic conditions, like boom or depression, upswing or downswing of the economy. Corresponding to [...]