Management is essentially a process of decision-making, and managers at various levels are mainly concerned with decision-making. Without decisions, the functions of management could not take place and
Basis of Promotion – Merit vs. Seniority Promotion is made either on the basis of seniority or on the basis of merit or both. Normally, management of any
Commonly used functional budgets Functional budgets relate to different functions. Some of the commonly used functional budgets are given below: 1. Sales Budget: Sales budget gives the estimate
Advantages of Planning Planning is an important per-requisite for attaining the cherished goals of a business enterprise. Of all the managerial activities, it comes first because of the
Purposes of planning in an organization The following are some of the important purpose of planning in an organization. 1. Facilitates Accomplishment of Objectives: The aim of planning
Reason for ordering of office forms A right quantity of forms should be ordered at one time because of the following reasons. 1. The flow of forms should
What are General Reserves? Retention of profit with no specific purpose may be utilized by the company for many purposes. The Board of Directors decides upon the percentage
What is Customer Relationship Management? Customer Relationship Management (CRM) is an enterprise-wide strategy for presenting a single face to the customer. A long-term relationship with customer gives the
Both standard costing and budgetary control have common objective of controlling costs or expenses. Hence, these systems are considered to be interrelated to each other. But they are