Meaning of Accounting and Objective of Accounting What are the Meanings of Accounting and Objective of Accounting? Meaning of Accounting American institute of Certified Public Accountants (AICPA) which defines accounting as “the art of recording, classifying and summarizing in a significant manner and in terms of money, transactions and events, which are, in part…
What is the Modern Concept of Marketing?
Concept of Marketing What is the Modern Concept of Marketing? The Marketing concept was introduced to the awareness that marketing starts with the determination of what consumer wants and ends with the consumer satisfaction of those wants. The Modern Marketing concept put on the consumer at both the beginning what consumer wants and…
What are the Functions of a Finance Manager?
Functions of Finance Manager What are the Functions of a Finance Manager? Finance Manager type and role of Finance Manager A finance manager is a person who heads the department of Finance. He forms the various important activities in connection with management to help make financial decisions. His main focus is on the profitability of…
What do you mean by Scientific Management?
Scientific Management Contribution of F.W. Taylor in Scientific Management Frederick Winslow Taylor (1856-1915) will be ever remembered for his contribution to the management movement. Taylor developed the body of knowledge which is now called “Scientific Management” with the help of this Taylor developed the tools how to effective use of human beings for an organization….
What are the main accounting concept?
Accounting Concept Accounting Concept 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 own it. This concept is very useful in keeping business affairs or business transactions, the business is free from the effect…
Examine the significance of “Howthorne Studies” to the development of managerial thinking.
Examine the significance of “Howthorne Studies” to the development of managerial thinking. Human relation Era Human relation era also called behavioral school emerged because the scientific management principal introduce by classical thinkers i.e. F. W. Taylor, Henry Fayol, Frank and Lillion Gilbreth did not achieve sufficient production efficiency and industrial harmony at work place and…
Trends and challenges of Management in Global Scenario
As we have already discussed about the scientific management era on my previously post if you want to find out further details you may gone through by this link Contribution of F. W. Taylor in Scientific Management Era also we had discussion about that why Henri Fayol is considered as the Father of the Modern Management Theory…
Management is said to have universal application. How do you justify the Universality of Management? Give examples to illustrate your arguments.
Management is said to have universal application. How do you justify the Universality of Management? Give examples to illustrate your arguments. Although we know that every organization has people who are assigned to for particular work and give them responsibility of serving the organization and serving the goals and those who are act on this…
Contribution of Peter F. Druker in modern management
Contribution of Peter F. Druker in modern management Peter Ferdinand Drucker was an Austrian-born American management consultant, educator, and author, whose writings contributed to the philosophical and practical foundations of the modern business corporation. He was also a leader in the development of management education, he invented the concept known as management by objectives and self-control. He has been…
14 Principles of Management by Henri Fayol (1841-1925)
Who was the Henri Fayol? Henri Fayol (29 July 1841 – 19 November 1925) was a French mining engineer, mining executive, author and director of mines who developed general theory of business administration that is often called Fayolism. He and his colleagues developed this theory independently of scientific management but roughly contemporaneously. Like his contemporary, he is widely…