Participative management 

Meaning and concept of participative management It is known as employee involvement or participative decision making. This is a dynamic group oriented concept. It encourages the involvement of stake holders at all levels of an organization. Employees are invited to be the shareholders of the company or stand at board of directors to solve and […]

Knowledge management 

Meaning of knowledge management Organizational efficiency depends upon the knowledge of human resources. Knowledge management is the utilization of the capacity of employee with information, technology, research, and management. Generally, knowledge means strategy, practice, insights, experiences and methods. But it only becomes knowledge when one is able to realize and understand the patterns and their […]

Conflict management 

Conflict management: “Conflict is a process that begins when one party perceives that another party has negatively affected, or is about negatively affect, sometimes that first party cares about” – Stephen p. Robbins and S. Sanghi Conflict can be visualized as the active striving for one’s own preferred goals which, if accomplished, perceives the attainment […]

Importance of insurance 

Insurance has many importance in individuals life, social life and society for transforming our evil modernity, too. The role and importance of insurance are as follows: (i) individual, and family (ii), to business or industry, (iii to the society. To individual and family 1. Security and Safety: The insurance provides safety and security against the loss […]

Meaning of Insurance 

Insurance is used to safeguard the interests of people from uncertainty by providing that type of instrument payment at a given interest. The insurance idea is highly used in modern times.  

Meaning of risk management 

Risk management means the possibility of losses due to uncertainty. Business organizations are closely associated with risk. There are various event of circumstances or factor that may have negative impact of the operation or profitability of an organization. As we know, higher the risk, higher the gain. If the business organization takes lower risk the […]

Barriers to effective delegation of authority 

Even though delegation is vital for the efficient functioning of the organization, in practice there are several factors which prevent effective delegation. These problems in delegation may be classified into three categories.   Obstacles due to superiors Managers are often reluctant to delegate authority due o the following reasons 1. Some managers are autocratic and […]

Line organization structure 

It is the simplest and oldest form of organizational structure. The line of authority flows vertically from top most executive to the lowest subordinate throughout the organization. Where, managers have direct authority over their respective subordinates through the chain of command. Authority flows directly from top to bottom through various managerial positions. It is simple […]

Organizing process 

Determination of objectives: In the 1st step of organizing process, the objective of an enterprise is to be determined. Every business firm set the goals and they want to achieve these goals. Further existence of business firms depend on the goal achievement. In this process, strategy, planning and policies are made. Determination of activities: After determination of […]

Chapter 4 » Principles of Organization | Business Studies – XII 

Principles of organization 1. Principle of unity of objectives: Organizational goals, departmental goals, and individual goals must be clearly defined. All goals and objectives must have uniformity. When there is contradiction among different level of goals desired goals can’t be achieved. Therefore, unity of objectives is necessary 2. Principle of specialization:  Sound and effective organization believes on […]