Category: Basic business Knowledge

De centralisation implies the dispersal of decisionmaking power at lower levels of management. When the power to take decisions and formulate policies does not lie with one person at the top but is passed...

centralization Centralisation is a common ocuurrence in small enterprises. The success of a small enterprise depends upon the dynamic manager who single-handedly commands the running of the concern. He takes all the decisions himself...

Authority Authority is the degree of discretion conferred on people to make it possible for them to use their judgement.When an enterprise is small then decision-taking power is centralised in few hands. As the...

After making plans and having an appropriate structure to achieve the goals, the manager is required to get his individual which prompts him to action. Every individual has needs and desires which are called...

Theories of Motivation 1. Maslow’s Hierarchy of Needs Theory It is a well-known theory of motivation, Abraham Maslow outlined the elements of an overall theory of motivation. This theory has received attention in the...

Meaning of Staffing Every organisation requires a number of persons for taking up different positions. The positions are created through the process of organisation and their occupants help in achieving the business objectives. The...

Theories of Business Forecasting In the old time business forecasting were done only on the basis of experiences and assumptions. But in present time this work is done on the basis of scientific methods.The...

forecasting Concept of Forecasting According to Simpson and Kafka, “In statistics the term (forecasting) refers to the extending or projecting a time series into the future based on past behaviour of the quantitative data....

Objectives The meaning of objectives When the top level management of an organisation clearly lays out the mission or goals of the establishment then the next step is to convert these into actual tasks....