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Delegation of Authority – Meaning, Process and its Principles

What is the Delegation of Authority? The delegation of authority is a critical management tactic in any organization. Many companies, both small and big, use it to get tasks done. But then, there are a lot of things one needs to know before deciding to delegate duties. One of the goals of delegating authorities to … Read more

What is Management By Objectives? and Major Objectives of Management

What is Management By Objectives? The essence of Peter Drucker ’s basic principle: Management By Objectives is to determine joint objectives and to provide feedback on the results. Setting challenging but attainable objectives promote motivation and empowerment of employees. By increasing commitment, managers are given the opportunity to focus on new ideas and innovations that contribute … Read more

Enterprise Risk Management Strategy & Protecting Your Corporate Website

Enterprise Risk Management Strategy and Protecting Your Corporate Website Your corporate website is one of the most important aspects of your business when it comes to attracting new customers and maintaining relationships with existing ones. However, hackers and data thieves can exploit vulnerabilities in your site to expose your customers to malicious downloads and malware … Read more

What is Enterprise Risk Management and How is it Important?

What is Enterprise Risk Management and How is it Important? Enterprise Risk Management (ERM) is a framework that guarantees security for your organization. While its regular mentioning may make appear irrelevant, you need to realize that ERM is the surest way to minimize threats thus helping you achieve your objectives. To develop trust among your … Read more

Reinforcement Theory of Motivation: Definitions and Examples

Reinforcement Theory of Motivation The reinforcement theory holds that as an employer you can influence and change the behavior of employees by reinforcement, punishment, or extinction. To encourage the behavior you would like to see in your organization rewards are awarded and for prevention of undesirable behaviors punishment is meted out. To stop a learned … Read more

Understanding the Responsibility Assignment Matrix (RACI Matrix)

Understanding the Responsibility Assignment Matrix (RACI Matrix) The Responsibility Assignment Matrix also referred to as RACI Matrix or Responsibility Accountability Matrix is a key tool an organization can use to ensure successful completion of projects. The matrix helps managers know who plays what role or performs which duties during a project. If this isn’t clearly … Read more

Adam’s Equity Theory

Adam’s Equity Theory Equity theory, most popularly known as equity theory of motivation, was first developed by John Stacey Adams, a workplace. Equity theory is simple and almost instinctual. Adams‘ Equity Theory calls for a fair balance to be struck between an employee’s inputs (hard work, skill level, tolerance, enthusiasm, and so on) and an employee’s outputs … Read more

What is Financial Function? Objectives & Importance of Finance Functions

Definition of Finance Functions The Finance Function is a part of financial management. Financial Management is the activity concerned with the control and planning of financial resources. In business, the finance function involves the acquiring and utilization of funds necessary for efficient operations. Finance is the lifeblood of business without it things wouldn’t run smoothly. … Read more

Role of a Financial Manager

Role of a Financial Manager He/she handles finances and is at the heart of a company’s operations. A good manager can change the fortunes of a business with proper planning, monitoring, and timely guidance. The opposite is true of an incompetent finance manager who can bankrupt even a profitable firm. A financial manager is not … Read more

What is Managerial Communication? Importance and Types of Managerial Communication

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

Capital Structure: Definition, Features and Factors Affecting it

What is Capital Structure? When a business wants to grow it will need capital to drive its expansion. These funds may come from long-term debt or equity. The mix of debt and equity used to finance the company’s future profitable investment opportunities is referred to as capital structure. A company may choose to look to … Read more

Objectives and Importance of Financial Planning

Objectives and Importance of Financial Planning If you are serious about attaining financial independence you most likely do what many financial gurus say e.g. you save your money, have a budget, live below your means, look for ways to increase your income and so on. These ideas are not just for individuals but are also … Read more

Features, Importance and Limitations of Planning

Features, Importance, and Limitations of Planning Planning to meet those non-predictable outcomes thus becomes pertinent. As in life, planning also plays an important role in any business. Planning can be understood as nothing short of the spine of business without which keeping steady and on the feet becomes next to impossible. Planning is one of … Read more

Expectancy Theory of Motivation

Expectancy Theory of Motivation The theories of motivation are broadly classified into various heads such as Need theories, Process theories, etc. The Expectancy theory, which is the topic of this discussion falls within the category of process theories. Process theory deals with the explanation and description of the process of how behavior comes to be … Read more

The Boston Consulting Group Matrix and It’s Limitations (BCG)

The Boston Consulting Group Matrix and Its Limitations (BCG) The BCG matrix was created in 1970 by Bruce D. Henderson for the Boston Consulting Group, hence the name. Also, known as the growth-share matrix Bruce came up with it to help corporations analyze their business units/product lines. As a tool, the matrix categorizes business units … Read more