An open system is one that continuously interacts with its environment for taking inputs and giving outputs. An open system has the following characteristics 1. Importation of Energy:
Functional Responsibilities and Priorities of Senior Management The following are some of the functional responsibilities and priorities of senior management. 1. Management By Wandering Around (MBWA) Management should
Factors in Departmentation Each pattern of departmentation has its own merits and demerits. Besides, each one is suitable under specified circumstances and become unsuitable for other occasions. Hence,
National Securities Depository Limited (NSDL) is one of the recognized depository in India that creates a competitive environment which will respond better to users’ interest and demand. Setting
Management is an inevitable element for directing and unifying the group efforts towards a common objective. Since the most of the human aims can be well realized only
What is Management Audit? Management audit is a systematic evaluation of the functioning performance and effectiveness of management of an organization. It a thorough-going, critical and constructive review
Features of Coordination Coordination has some distinct features which are outlined below: 1. Coordination is basically a managerial responsibility. It cannot be delegated to a specialist., It is
Management by objectives (M.B.O) There are so many approaches to integrate individual goals with overall goals. The most comprehensive approach is Management By Objectives (MBO). It is an
The functions of management accountant depend upon his status in the organization, agreement with the organization, experience and capacity of the management accountant. On this basis, the functions
