Decision-Making: concept, process and techniques

  Decision making is an essential part of planning. Decision making and problem solving are used in all management functions, although usually they are considered a part of the planning phase. A discussion of the origins of management science leads into one on modeling, the five-step process of management science, and the process of engineering … Read more

MARKETING MANAGEMENT

  Marketing Management is a social and managerial process by which individuals or firms obtain what they need or want through creating, offering, exchanging products of value with each others.   CORE CONCEPTS OF MARKETING   NEED/ WANT/ DEMAND:   Need: It is state of deprivation of some basic satisfaction.   Want: Desire for specific … Read more

MARKETING MIX  

  Marketing involves a number of activities. To begin with, an organisation may decide on its target group of customers to be served. Once the target group is decided, the product is to be placed in the market by providing the appropriate product, price, distribution and promotional efforts. These are to be combined or mixed … Read more

WEALTH MAXIMIZATION

      Concept:     Wealth maximization is the concept of increasing the value of a business in order to increase the value of the shares held by stockholders. The concept requires a company’s management team to continually search for the highest possible returns on funds invested in the business, while mitigating any associated … Read more

SOURCE OF FINANCE

  Sources of finance are the most explored area especially for the entrepreneurs about to start a new business. It is perhaps the toughest part of all the efforts. There are various sources of finance classified based on time period, ownership and control, and source of generation of finance.   The process of selecting right … Read more

CAPITAL STRUCTURE      

  The financial requirement of a firm can be met through ownership capital and/or borrowed capital. The ownership capital refers to the amount of capital contributed by the owners. In case of a company, it refers to the amount of funds raised by issuing shares. The main characteristic of the ownership capital is that its … Read more

Appraisal System

  Performance appraisal is a vital tool to measure the frameworks set by any organization to its employees. It is utilized to track individual contribution and performance against organizational goals and to identify individual strengths and opportunities for future improvements and assessed whether organizational goals are achievedor serves as basis for the company’s future planning … Read more

FUNCTIONS OF MANAGEMENT : COORDINATION AND CONTROL

      COORDINATION   “The Harmonization of activities of different work groups and departments.”   Coordination is the orderly arrangement of individual and group efforts to provide unity of action in the pursuit of a common goal. All these departments must function in an integrated manner so that the organisational goal can be duly … Read more

FUNCTIONS OF MANAGEMENT – STAFFING    

  Staffing refers to the managerial function of employing and developing human resources for carrying out the various managerial and non-managerial activities in an organisation. This involves determining the manpower requirement, and the methods of recruiting, selecting, training and developing the people for various positions created in the organisation.   Staffing function is an integral … Read more

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