There has also been a debate whether management is a science or an art or the both. This can be best answered if we examine management with each of these aspects separately.
Management is a Science, Art and Profession – Explained!
5 Basic Components of Scientific Management: By F.W Taylor
Basic components of scientific management are: (1) separation of planning from doing (2) functional foremanship (3) determining ‘fair day’s work’ and one best way of doing it (4) differential piecework system of wage payment and (5) bilateral mental revolution.
6 Procedural Changes for Industrial Licensing in India
Some of the procedural changes for industrial licensing in India are as follows:
12 Different Types of Marketing Strategy and Techniques
12 Different Types of Marketing Strategy and Techniques are as follows:
What are the different Types of Retrenchment Strategies of Business?
Turnaround strategy means backing out, withdrawing or retreating from a decision wrongly taken earlier in order to reverse the process of decline.
Diversification Strategy and Expansion of Business
Diversification is defined as entry into new products or product lines, new services or new markets, involving substantially different skills, technology and knowledge. It involves expansion into new businesses that are outside the current businesses and markets.
Intensification Strategy and 3 Alternative Routes of Expansion of Businss
Intensification refers to growth by working with its current businesses more vigorously. Intensification, in turn, encompasses three alternative routes:
7 Main Characteristics of Expansion Strategy
Expansion strategy refers to redefining the business by adding the scope of business substantially through major reformulation of objectives and goals, involving new investments, introduction of new products, new technology and new markets, innovative decisions and so on.
10 Important Characteristics of Stability Strategy
1. Stability is basically a safety-oriented, status quo-oriented strategy.
Brief Notes on Michael Porter’s Three Generic Strategies
Michael Porter’s three generic strategies that allow organisations to gain competitive advantage areas follow:
What is Michael Porter’s Focus Strategies?
Focus strategy means concentrating on a particular group of customers, geographic markets or on particular product-line segments in order to serve a well-defined but narrow market better than competitors who serve a broader market.
What is Differentiation Strategies of Producing Products and Services?
Differentiation is a strategy aimed at producing products and services considered unique and directed at consumers who want something unique or different and are relatively price-insensitive.
Brief Notes on Cost Leadership Strategies and Risks
Cost leadership strategy emphasizes on being a cost leader by producing standardized products at a very low per-unit cost for consumers who are price-sensitive.
Is Strategy Partly Proactive and Partly Reactive for an Organization?
Formulation of a strategy for an organization starts with making the intended plan in advance, based on assumptions about the future and how the organisations wish to respond i.e. proactive approach.
9 Factors that Determine the Prospects and Financial Attractiveness of an Industry
A company would enter any industry if it has a vision that the industry would be prospective and financially attractive. The factors that determine prospects and financial attractiveness of an industry area follow:
What are the Main Key Success Factors of an Industry?
Privacy Overview
Cookie | Duration | Description |
---|---|---|
cookielawinfo-checkbox-analytics | 11 months | This cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Analytics". |
cookielawinfo-checkbox-functional | 11 months | The cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional". |
cookielawinfo-checkbox-necessary | 11 months | This cookie is set by GDPR Cookie Consent plugin. The cookies is used to store the user consent for the cookies in the category "Necessary". |
cookielawinfo-checkbox-others | 11 months | This cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other. |
cookielawinfo-checkbox-performance | 11 months | This cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Performance". |
viewed_cookie_policy | 11 months | The cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. It does not store any personal data. |