Aims and Objectives of Business Market standing means position of an the enterprise in relation to its competitors. Innovation is the introduction of new ideas or methods in the way something is done or made. Productivity is an important activity of the business. In order to continuous survival andRead more
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Objectives of Business Create Employment, One of the objective of business is to create employment in the society. Social Responsibility, social responsibility is to solve social issues. Earning Profits, if the business wants to stay in long time. it needs to earn profits. Productivity, In order toRead more
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Nature of Business Business is an economic activity with the aim to make profit and provides products and services to the society. The main purpose of business is earn profit. Profit is the main objective of every business. Business has always uncertainty, There is always a possibility of losses ofRead more
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Nature of Business Example Regular Process: For example, A person is running a restaurant business. So, he will do all the activities regularly daily. He can not do a task at once for a lifetime. He will need to cook food daily for running his business. Risk: For example, He cooks food but not ableRead more
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Main Objective of Service Management Proper Utilization of Funds: The main objective of service management is to proper utilization of funds. By making proper decisions Better Decision Making: Service management helps in decision making by providing the managerial function from planning to controlliRead more
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Five Elements in the Management Process Planning: Setting up plans in advance, what to do? who will do? How are they going to complete the task? Organizing: In organizing, we provide it with those assets that will use in the production or running the organization example: raw material, machines, caRead more
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Planning: First we plan, What is to be done? Who is going to do it? How are they going to complete the task? Organizing: To organize a business is to provide it with everything useful or its functioning example: raw material, machines, capital, and staff. Staffing: Hiring the employee providing themRead more
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Management is both art and science Art is managing things with there experiencing it change when manager change. whereas the science which as applicable to the whole universe and remains same. 1. Management is an art as the manager needs to use their experience to get work done. 2. Management is alsRead more
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Essential Characteristics of Management are given below Management is Goal-oriented: Managers are setting up the goals and all the subordinates need to follow the instruction and achieved the goal. Management is a Continuous Process: All the function of management is never-ending. for example planniRead more