Business is different from profession and employment in the following ways: 1. Formation: a business enterprise is established by an entrepreneur, who takes a decision to carry on production and or exchange of goods and services in order to earn profit by satisfying the needs of the customers. The entrepreneur Read more…
What is Blockchain? Learn the basics of blockchain technology and why it can improve trust in both record keeping and financial transactions. Blockchain is an information record system in a way that makes it difficult or impossible to change, hack or cheat the system. A blockchain is essentially a digital Read more…
Techniques of control: Management is defined as art and as well as a science. Therefore, management and its functions continue to evolve over time. The control function of management also proceeds with the passing time. So let us know the traditional and modern techniques of managerial control. Control is a Read more…
Control Process: The control process involves carefully gathering information about a system, process, person, or group of people to make the necessary decisions about each. The control process of management ensures that every activity in a business is pursuing its goals. This process basically helps managers to evaluate the performance Read more…
Types of control: In management, one of the most important tasks in an organization is goal-oriented. Feedback control, concurrent control, and feedforward are some types of management control. Controlling helps managers eliminate gaps between actual performance and goals. Control is the process in which actual performance is compared to company Read more…
Scope of Control: Scope of control is a primary goal-oriented task of management in an organization. It is a process of comparing actual performance with the set standards of the company to ensure that the activities are carried out according to the plans and if not, corrective action is taken. Read more…
Controlling: Controlling is an important function of management. It is a process of guiding and measuring current performance. In controlling, we compare actual performance to standard performance. After planning, organizing, staffing and directing, the final managerial task of determining whether planned activities are being carried out. Below we learn about Read more…
Maslow Motivation Theory: Abraham Maslow Motivation theory is one of the best known and most influential theories on motivation. The psychologist Abraham Maslow first developed his famous theory of personal development and motivation in 1940. He suggested that humans have a hierarchy of needs. That is, that all human beings Read more…
Theory of Motivation: The theory of motivation is tasked with figuring out what individuals have to work towards for a goal or outcome. Businesses are interested in motivational theory because motivated individuals are more productive, leading to the greater economic use of resources. Most motivational theories differentiate between internal and Read more…
Types of Motivation: There are two major types of motivation: 1. Intrinsic and 2. Extrinsic motivation Intrinsic motivation: Intrinsic motivation means that the person’s motivational stimuli are coming from within. A person has a desire to perform a specific task because it results according to his or her belief system Read more…