The nature and kind of planning activities carried out in firms are discussed as follows:- 1. Strategic Planning Activities 2. Operational Planning Activities 3. Budgetary Planning Activities. Also learn about the relationships among them. 1. Strategic Planning Activities: These are longer-term in nature, involve top-level executives and more global in their effect on the firm. These consist of: (a) Establishing [...]
In this article we will discuss about:- 1. Definition of Management Control 2. Features of Management Control 3. Management Control System. Definition of Management Control: The management function of implementation of strategies is termed as 'Management Control'. It is defined as "the process by which managers influence the members of the organisation to implement the organisation strategies". Features of Management [...]
A master strategy of a firm consists of two inseparable parts: Business strategy and Corporate strategy. Each complements the other. Let us consider the following quotes: The strategic aim of a business (is) to earn a return on capital [1], and if in any particular case the return in the long run is not satisfactory, then the deficiency should be [...]