Importance of Leadership
Leadership is an important function of management which helps to maximize efficiency and to achieve organizational goals. The following points justify the importance of leadership in a concern. Initiates action- Leader is a person who starts the work by communicating the policies and plans to the subordinates from where the work actually starts. Motivation- A […]
New Product Pricing
Pricing is an important parameter; organizations need to take care of while launching a new product or service in the market. Before deciding the price of a new product, it is essential for organizations to understand and also calculate total costs involved in the entire process of the product development be it designing, manufacturing or […]
How to Practice Effective Time Management at Workplace
Time Management refers to assigning specific time slots to activities as per their importance and urgency in order to make the best possible use of time. In a layman’s language Time Management is nothing but to manage time well and doing things when they actually need to be done. Every organization works on deadlines. An […]
Liability Driven Investing
In the previous articles, we have already studied the difference between defined benefit plans and defined contribution plans. We now know that defined-benefit plans promise to pay the retiree a fixed nominal amount whereas defined contribution plans promise to pay the retirees the worth of their investment portfolios. There is a big difference between the […]
The Freemium Model – Different Types of Freemium Models
In the modern world, more and more start-ups are selling products and services related to information technology. These companies either bring about a digital revolution in existing businesses or create a totally new product category. Most of these new businesses sell something intangible. Hence, the traditional distribution models are no longer effective. Web-based companies cannot […]
As a process, management refers to a series of inter-related functions. It is the process by which management creates, operates and directs purposive organization through systematic, coordinated and co-operated human efforts.
According to George R. Terry, “Management is a distinct process consisting of planning, organizing, actuating and controlling, performed to determine and accomplish stated objective by the use of human beings and other resources”. As a process, management consists of three aspects:
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