What is the Importance of Effective Communication? Importance of Communication The importance of communication in management can be judged from the following: – To get acceptance of policies, winning cooperation of others, getting instructions and ideas clearly understood and bringing about the desired changes in performance are dependent upon effective communication. Communication helps the management…
What is the Elements of Communication Process?
What is the Elements of Communication Process? The transmission of sender’s ideas to the receiver and the receiver’s feedback or reaction to the sender constitute the communication cycle. The process of communication begins when one person (the sender) wants to transmit a facts, idea or opinion or other information to the receiver. This facts, idea…
What do you understand of Statistics?
What do you understand of Statistics? Statistics is a set of tools used to organize and analyse data. Data must either be numeric in origin or transformed by researchers into numbers. Statistics serve two purposes (1) Description and (2) Prediction. Statistics are used to describe the characteristics of groups. These characteristics are referred to as…
What are the basic principle of accounting?
What are the basic principle of Accounting? 1. Convention of Conservatism All we know that the world of uncertainty. So, it is always better to follow the policy of playing safe. Also, this is the principle behind the convention of conservatism. According to this convention the accountant must be very careful while recognizing increases in…
What is the meaning of Accounting Concept?
What is the meaning of Accounting Concepts? We discussed the important accounting concept which as follows: Business Entity Concept This is generally accepted that as per this concept the business enterprises a separate entity from a person who owns it. This concept is very useful in keeping business affairs or business transactions, the business is free…
What do you understand of Human Resource Management?
Meaning of Human Resource Management What do you understand of Human Resource Management? Human Resource Management is a practice of recruiting, hiring, deploying and managing an company’s employees. HRM is also called to simply as Human Resource (HR). A company HR department is responsible for creating, putting into effect and overseeing policies governing workers and…
What do you understand of Scope of Human Resource Management (HRM)?
What do you understand of Scope of Human Resource Management? First, we need to understand about the Nature of HRM, which we have discussed in our previous post you can go through by this link to understand the What is the Nature of HRM or What is the Nature of Human Resource Management? So, now let…
What is the Nature of Human Resource Management (HRM)?
What is the Nature of Human Resource Management? In this post we will discussed about the Nature and Scope of Human Resource Management in the short we will be discussed about in the first part Nature of HRM and in the second part we will discussed about Scope of HRM. In the previous post we…
What do you understand by Operations Management?
What do you understand by Operations Management? Operations Management has been a driving force in the improvement of business practice around the world. Operations Management lead the ways for the organizations to achieve its goals with minimum effort. Moreover, the study and application of management techniques in managing the affairs of the organization have…
What do you mean by Management Accounting and Difference Between Cost Accounting?
Management Accounting What do you mean by Management Accounting and Difference Between Cost Accounting? Meaning and Definition of Management Accounting Management Accounting the provision of financial data and advice to a company for use in the organization and development of its business. – Oxford Dictionary The Institute of Charted Accountants of England Any form of…