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Importance of Directing Function of Management

What is Directing Function of Management? Every one once in a while comes across the problem of identifying how really to proceed with something. What “Direction” is to be taken and what is to be done. In businesses also these situations arise on a daily basis, where a manager has to decide how things has … Read more

Principles and Importance of Organizing Function of Management

What is Organizing Function of Management? Ask any businessman and he would tell you that business is not a result of on the spot decisions and perfect awe striking ideas that come out of nowhere to take the newly emerged tycoon to success. That’s something movies show you and make you believe in. Frankly, businesses … Read more

7 Importance of Planning Function of Management

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

Herzberg’s Two-Factor Theory of Motivation and Hygiene

Herzberg’s Two-Factor Theory Theory of Motivation and Hygiene We have Maslow’s theory, McClelland’s theory, the ERG theories, etc. These theories look at needs and the concept of motivation from different functional points of view and theorize how motivation can be effectively carried out. One such theory is Herzberg’s Theory of Motivation. This theory also knew the … Read more

McClelland’s Theory of Needs (Power, Achievement and Affiliation)

McClelland’s Theory of Needs (Power, Achievement, and Affiliation) McClelland’s theory of needs is one such theory that explains this process of motivation by breaking down what and how needs are and how they have to be approached. David McClelland was an American Psychologist who developed his theory of needs or Achievement Theory of Motivation which … Read more

Characteristics, Types and Format of Proposals

What is a Proposal? A proposal is a written document to persuade the reader for a suggested plan of action. For example, a proposal may aim to attain a grant from the government to carry out a survey on communication practices on organizations. Characteristics of Proposals 1. Proposals are persuasive documents as these try to … Read more

8 Major Schools of Management Thought

Major Schools of Management Thought The various approaches to the study of management as propounded by specialists from different disciplines have come to be called the Schools of Management Thought. The Major Schools of Management Theory are: 1.  Management Process School 2.  Empirical School 3.  Human Behaviors or Human Relations School 4.  Social School 5.  … Read more

McKinsey’s 7-S Framework

McKinsey’s 7-S Framework McKinsey’s 7-S Framework has received considerable attention from management consultants and strategists. This framework was developed in late 1970 by McKinsey, a well-known consultancy firm in the United States. This framework is based on the proposal that effective organizational change is best understood in terms of the complex relationship between hard elements … Read more

Overview of Management

What is Management? Management is essential for an organized life and necessary to run all types of management. Good management is the backbone of successful organizations. Managing life means getting things done to achieve life’s objectives and managing an organization means getting things done with and through other people to achieve its objectives. Whether management … Read more

Frederick Taylor’s 4Principles of Scientific Management

4 Principles of Scientific Management Frederic Winslow Taylor started his career as a mechanist in 1875. He studied engineering in an evening college and rose to the position of chief engineer in his organization. He invented high-speed steel cutting tools and spent most of his life as a consulting engineer. Frederick Winslow Taylor (1856-1915) is … Read more

Boston Consulting Group Growth Share Matrix (BCG MATRIX)

Boston Consulting Group Growth Share Matrix (BCG MATRIX) • The BCG matrix based on product life cycle theory was developed by Bruce Henderson of the Boston Consulting Group in the early 1970’s.  It has 2 dimensions: Market Growth Rate and Relative Market Share. It is based upon the simple observation that company’s business unit  can … Read more

Nature and Scope of Management

The Nature of Management The salient features which highlight the nature of management is as follows: Universal Process Factor of Production Goal-Oriented Supreme in Thought and Action Group Activity Dynamic Function Social Science Important Organ of Society System of Authority Profession Process Lets, explain each one; Universal Process Wherever there is human activity, there is … Read more

Responsibilities of a Sales Manager: The Ultimate Guide

Responsibilities of a Sales Manager The management is responsible and answerable to many groups. Sometimes, the interests of these groups conflict with each other. Hence, management must conduct its affairs in a manner so as to be fair and equitable to all parties who have a vested interest and claim on management. These interested parties … Read more

Contribution by Peter F. Drucker – Management by Objectives (MBO)

Contribution by Peter F. Drucker – MBO Peter F. Drucker is a highly respected management thinker. He is a prolific writer and has published several books and articles on management practices. He is so versatile that there is hardly any area in management, which is not touched by him. He has drawn heavily from his … Read more

Effective Managerial Skills

Managerial Skills A skill is an acquired and learned ability to translate knowledge into performance. It is the competency that allows for performance to be superior in the field in which the worker has the required skill. All managers need to possess technical, interpersonal, conceptual, diagnostic, communicational and political skills. While technical and diagnostic skills … Read more