Importance of Organizing Organizing is an effective management function if implemented effectively can pave the way for companies to successfully walk in a dynamic business environment. Following are the 10 points that justify the importance of organizing in business. Efficient Management A good organizational structure is the foundation of effective and efficient management. It is…
Methods of Planning Managers on the basis of the organization’s nature, beliefs, culture, interests, situations, availability of information, and resources need to make different plans. There are many methods of planning managers can adopt to make plans. All of these methods have one thing in common: they all aim to bring effectiveness in planning and…
Hierarchy of Planning Planning hierarchy means the arrangement of plans based on their scope in the organizational success. Just like the managerial hierarchy, in the hierarchy of planning the higher-level plans are also at the top and lower-level plans are at the bottom. As panning is a pervasive function all levels of managers have to…
What is Managerial Ethics? Managerial ethics or management ethics is a moral code of conduct that a manager assumes while performing organizational activities. It includes the set of principles that guide what is wrong and what is right conduct in the organization. In simple terms, ethics is the moral principle that guides an individual’s behavior…
Now marketing has entered the new millennium. The challenges businesses face in marketing activities have increased. There was a time when existed only a few companies where customers were influenced by companies’ products but now companies’ products are influenced by customers’ preferences. With the call of the digital era, globalization, and the emergence of a…
What is System Theory of Management? System theory of management refers to the goal-oriented mechanism composed of different parts that interact and are interrelated in a way that the collective efforts of all parts are greater than the sum of their individual parts. In simple words, the system theory views an organization as a system…
What is Decision Theory? The decision theory of management holds the belief that a manager should make rational decisions. A manager involved in the decision-making process should make quality decisions that have a significant impact on managerial effectiveness, organizational efficiency, and productivity which are the basis of organizational success. The decision theory of management was…
Suppose you are working in an organization with a rigid structure and you are only viewed as a working machine. Your sentiments, feelings, attitudes, and perceptions are totally ignored. Would you work in such an organization? I think not. To reduce such practices the human relations theory is considered a pioneer and has a great…
Principles of Bureaucracy Theory Bureaucracy can be defined as the structure of an organization that has formality and impersonality in its operation. Max Weber as a father of bureaucracy provided us with six different principles that bureaucratic organizations operate on. As a member of the classical movement of management Weber’s goal was to increase the…