Levels of Management
WHO IS A MANAGER? A manager is a person saddled with the responsibility of planning, organizing, coordinating, and controlling all resources to achieve the stated goals and objectives of an …
14 Principles of Management
Henri Fayol (1841-1925), a French Industrialist offered 14 principles of management for the first time in 1916. His fourteen principles of management serve as a guide in helping managers to …
Management Functions
In this articles, you will learn the four traditional functions of management and also the management function propounded by HENRI FAYOL AND LUTHER GULLICK. FUNCTIONS OF MANAGEMENT The four traditional …
Is Management An Art or Science?
Is Management an Art or Science? Students always ask this question, Is management an Art or Science? In this article, we will consider some factors that classify management as an …
Definition Of Management
Definition of Management What you’ll learn. Definition of management Meaning of management by different authors, and different basis for their definition The nature and features of management. What do you …
Consumer Behaviour – Theory of Consumer Behaviour
Theory of Consumer Behaviour assumes that you can only order or arrange your preference in order of priority, you cannot quantify the level of your satisfaction. After reading this summary, …
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Law of Diminishing Marginal Utility
Generally, the more of a particular commodity human being possesses the less the intensity for more. Hence man’s subsequent unit, desire diminishes. The law of diminishing marginal utility was first …
Elasticity Of Demand – Types of Elasticities
Elasticity concepts generally deal with the response(s) of demand or supply to its determinant; in the course of our discussion of demand and supply, their determinants were discussed. The Elasticity …
Supply And Demand | Price Theory
The concept of price theory came into being as a concept of valuation, i.e. the medium through which values are attached to goods and services. The concept of price theory …
Basic Economic Problem
Scarcity | Choice | Opportunity Cost Three big questions summarise the scope of economics- How do choices end up determining what, how, and for whom goods and services are produced? …
Monetary Policy – Objectives of Monetary Policy
Monetary Policy Monetary policy refers to the combination of measures designed to control the supply of money and credits conditions in an economy for the purpose of achieving macroeconomic goals. …
Inventory Control Formulas and Terms +Video Guide
In this summary on Inventory Control, I will briefly explain the terminologies being used in this topic and also state their formulas in a way you can easily remember. NOTE: …
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