Management

Functions of Human Resource Management

Five Basic Functions of Human Resource Management Human Resource Management (HRM) is all about balancing the organization’s people and processes to best achieve the goals and the strategies of...

Importance of Human Resource Management

An organisation cannot build a good team of working professionals without good Human Resources. The key functions of the Human Resources Management (HRM) team include recruiting people, training them,...

Human Resource Management (HRM)

Human Resource Management (HRM) is the function within an organization that focuses on recruitment of, management of, and providing direction for the people who work in the organization. HRM...

Management by Objective(MBO)

Management by Objectives Management by objectives (MBO) can also be referred as Management by Results or Goal Management, and is based on the assumption that involvement leads to commitment...

THE STRATEGIC MANAGEMENT PROCESS

The strategic management process is a six-step process that encompasses strategic planning, implementation, and evaluation. A.    Step 1:  Identifying the Organization’s Current Mission, Objectives, and Strategies 1. Every organization...

TYPES OF ORGANIZATIONAL STRATEGIES

Strategic planning takes place on three different and distinct levels:  corporate, business, and functional. (See Exhibit 8-4 and PowerPoint slide 8-16). A.    Corporate Strategy Corporate strategy is an organizational...

THE IMPORTANCE OF STRATEGIC MANAGEMENT

THE IMPORTANCE OF STRATEGIC MANAGEMENT Managers must carefully consider their organization’s internal and external environments as they develop strategic plans. They should have a systematic means of analyzing the...

Levels of Strategy

Levels of Strategy   Strategy may operate at different levels of an organization -corporate level, business level, and functional level. The strategy changes based on the levels of strategy....

Strategy-implementation and formulation

Definition A strategy is a broad plan developed by an organization to take it from where it is to where it wants to be. A well-designed strategy will help...

Relationship of Finance to Economics and Accounting

Financial management has a close relationship to economics on the one hand and accounting on the other. Relationships to Economics: There are two important linkages between economics and finance....