Management Accounting is concerned with the accounting to management. Management accounting aids managers in a company make decisions. Management accounting is the application of professional skills and knowledge in the preparation of financial and accounting information in a way in which it will help internal management in the formulation of policies, planning, and control of […]
Management Articles & Notes
This page is dedicated to management articles, notes, tips and resources. You can find articles on a variety of topics related to management here.
In simple words, management is the art of getting things done through others. In other words, management in all business activities is considered the act of coordinating the efforts of individuals to achieve objectives and goals making use of available resources wisely. Management is frequently covered as a factor of production together with equipment, materials, and funds. Management includes the manipulation of human capital within an organization to help with the success of a business. In a commercial business, the main function of management is the satisfaction of a number of stakeholders. This usually requires making a profit, producing valued goods at affordable prices, and giving rewarding job opportunities for workers.
Management is an Art or Science
Management is effectively and efficiently combination of both art and science. Management as art is the active task of managing. It includes getting results through practical applications of knowledge and skills. Science is a systematic body of knowledge that is universally accepted. F.W. Taylor father of scientific management was probably the first person to think about management as a science.
Three Types of Research Design
A research design provides the glue which holds the research study together. It consists of the process and methods utilized to perform scientific research. There are many methods of classifying research designs, but usually the difference is artificial and other times different designs are combined.
How to Manage Stress at Workplace
Stress is a serious problem for organizations today. Stress can be explained as a situation where individuals face constraints, opportunities, or loss of something they want and for which the outcome is both unpredictable as well as significant. Although some office stress is common, too much stress can hinder your productivity and affect your emotional and physical health. Considering the fact that the reasons for workplace stress can vary significantly, so too do the approaches to reduce it.
Equimarginal Principle in Economics
A consumer wants to obtain highest satisfaction from his minimal resources. He can solve this problem if he spends his income in a manner that the last rupee allocated to each item gives him the same level of satisfaction. It is called the law of Equimarginal utility. The article talks about the formula and assumptions of Equi-marginal Principle in Economics.
Steps in OD Interventions
Organizational development is the term for any course of action which serves to intentionally improve problem solving and renewal processes within organizations. Intervention involves purposeful action by a change agent to create and aid change in a specific organizational setting or system. Interventions in organizations are based on three modes of research: explanation, interpretation, and intervention.
Limitations of Research
This article discusses about the problems and limitations of research which require attention. Some challenges are: Absence of Training, Not enough Interaction, Lack of Confidence, Absence of Code of Conduct and Costly Publishing.
Three Basic Economic Problems
The basic economic problem of society is that resources are scarce compared to the purposes to which they could be put. Because of this choices must be made concerning how to use resources in an efficient manner. The basic economic problem is therefore frequently labelled as ‘scarcity and choice’.
Meaning of Strategic Alliance
A strategic alliance is a long-term value-creating relationship. It is a positive partnership between two or more businesses that increases revenue, industry reach and internal knowledge. Strategic alliances have emerged to fix many business issues, and to encourage collaboration and innovation.
Brief History of Operations Research
Operations Research features a wide range of problem-solving techniques like Mathematical models, Statistics and algorithms to assist in decision-making. The name operation research originated in the year 1940. During World War II, a team of scientist (Blackett’s Circus) in United kingdom utilized scientific methods to research military operations to win the war. Right now, the usage of operations research techniques have spread out from military to a number of sectors at all levels.