What is Managerial Communication? Managerial communication is the process by which a manager in an organization shares ideas or information with other managers or members of their team. Depending on how well it is done managerial communication has a great impact on the staff morale, the achievement of company goals, and organizational culture. Managerial communication … Read more
What are Management Principles? Management, as we all know, is a discipline. It is in fact a complicated and very important discipline with multiple facets and huge scope. All fields of study, in one way or the other are governed and bound by a certain set of principles. Management is no different, and has principles … Read more
Importance of Planning Function of Management “In 5 years’ time, I need to get a job”. ” In 10 years I need to save enough to retire”. “In 15 years I need to able to break Sachin’s record of 100 centuries.” One way or the other all of us have desires of what to do … Read more
Factors Affecting Decision Making Process of a Consumer Various factors influence the decision-making process of a consumer. Some of these are internal factors or personal influences that are individualistic in nature. These factors are not visible, though they influence the consumer to a great extent. Learning, perception, motivation, attitude, self-concept, etc. are some such factors. … Read more
Stages of Buying Process The buying process is divided into various stages – Need recognition, Information search, Evaluation of alternatives, Purchase and Post-purchase evaluation of decisions. Below are various stages of buying process: Problem Recognition The decision making process begins with the recognition that a problem exists. The problem may be functional like a slow … Read more
Factors Affecting Decision-Making Some of the factors and personal characteristics that have an impact on the decision-makers are described below. Some factors are more important at higher levels of management and others are more important at lower levels. Programmed versus Non-programmed Decisions Programmed decisions are made in predictable circumstances and managers have clear parameters and … Read more
What is Decision Support System? A decision support system (DSS) is an interactive computer-based information system that, like MIS also serves at the management level of an organization. However, in contrast to MIS (that processes data), it processes information to support the decision making process of managers. It provides middle managers with the information that … Read more
