BASIC BUSINESS KNOWLEDGE

  • What about personality

    What about personality Personality \ Some people are silent and submissive while others are sociable and aggressive; some are punctual and hardworking whereas some lack punctuality and are lazy,some are assertive and optimistic while some are shy and pessimistic. The personalities and attitudes of people are.complex and difficult to interpret. To complicate matters further, there is no agreement among theorists regarding the definition of personality. They define personality from a number of different perspectives. Meaning of Personality The term ‘personality…

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  • What is decentralization

    What is decentralization \ De centralisation implies the dispersal of decisionmaking power at lower levels of management. When the power to take decisions and formulate policies does not lie with one person at the top but is passed on to different persons at various levels, it will be a case of decentralisation. The decisions taken at lower level should not only be more in number but they should be important also. If insignificant decisions are allowed to be taken at…

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  • What about centralization

    What about centralization \ Centralisation is a common ocuurrence in small enterprises. The success of a small enterprise depends upon the dynamic manager who single-handedly commands the running of the concern. He takes all the decisions himself and entrusts only implementation to the subordinates. There is a direct link between the proprietor and his employees, he personally supervises all managerial functions of production, marketing, financing, etc. In fact, he has no organisaguidance and his counselling is final.tion other than himself.…

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  • What is authority

    What is authority Authority \ Authority is the degree of discretion conferred on people to make it possible for them to use their judgement.When an enterprise is small then decision-taking power is centralised in few hands. As the enterprise grows there is a need to delegate authority to more and more people to cope with the work. The main purpose of delegation is to make organisation possible. “Just as no one person in enterprise do all the tasks necessary for…

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  • What is motivation

    What is motivation After making plans and having an appropriate structure to achieve the goals, the manager is required to get his individual which prompts him to action. Every individual has needs and desires which are called motives and which inspire his or her behaviour towards achievement of some objectives. An element which force an individual to put his energy, efforts, knowledge and skills to perform things in a particular way is called motivation. The manager’s role is to influence…

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  • Theory of motivation

    Theory of motivation Theories of Motivation \ 1. Maslow’s Hierarchy of Needs Theory The basic theme of Maslow’s Hierarchy of needs theory is that human needs are not of equal strength. He thought that a person’s motivational needs could be arranged as per their priority. First of all a person will try to satisfy primary needs and if they are satisfied, a person will move to secondary needs. In short, it is believed that once a need is a satisfied, it…

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  • What is staffing

    What is staffing Meaning of Staffing \ Every organisation requires a number of persons for taking up different positions. The positions are created through the process of organisation and their occupants help in achieving the business objectives. The persons occupying different positions should have the ability to meet their requirements. Staffing basically involves matching jobs and individuals. It may be defined as filling, and keeping filled positions in the organisation structure. This may require functions like manpower planning, recruitment, selection,…

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