Bureaucracy theory can be defined as the organizational structure with highly routine operating tasks performed under formalized rules and regulations assigned to various departments. It gives foundation to formal organization. Max Weber evolved bureaucratic theory in…

Individuals need to develop newer and better skills to promote and achieve a higher organizational level. Organizations must also be diligent in designing and developing their employees' career advancement programs. Organizations must be different in designing and …

Retail marketing includes activities and processes of selling to ultimate consumers for their personal, family and household use. Retailers are middlemen who procure goods from the wholesalers and sell the product to the end-users or consumers. They cater to the custom…

The corporate restructuring includes various forms of collaborations, such as takeovers, mergers and acquisitions, spin-offs, leveraged buyouts etc. It refers to an alteration or change in the asset mix, ownership, business mix and alliance with another company with a…

It is a paradox, problem or issue that is confronted by an organization, group or individual while making choice between conflicting claims, neither of which is clearly preferable or acceptable. It is a moral situation where the individual has to choose between two sit…

Decentralization is an extension of delegation. It refers to the degree to which the authority is delegated to lower levels. It gives added responsibility to managers at all the levels below the top. Only those responsibilities are left, which can be exercised centrall…

Scientific theory analyzed activities of workers whereas administrative and bureaucratic theory focused on the activities of managers. Both theories forget the importance of individual as well as group relationships in an organization. The neo-classical theory tries to…

Performance appraisal is the method of evaluating the behavior of employees in the workplace, evaluating the quantitative and qualitative aspects of job performance in terms of output. According to Dale Yoder , "Performance appraisal includes all formal procedures…

As the name signifies,  Integrated Marketing Communication involves integrating all the methods of brand promotion to promote a particular product or service among its target market. It is helpful in creating brand awareness among the customers at a minimal cost and r…

Staffing policy is concerned with the selection of employees for particular jobs. The challenge is whether for particular jobs. the challenge is whether to fill the vacant positions with home (local) individuals or expatriate(imported) labor. Management can select any …

Financial statements are the end product of the accounting process. Financial statements are historical in nature and are prepared by following the accounting concepts and principles. According to John N Meyer , "Financial statements provide a summary of accounts…

The Balance of Payment (BoP) is a comprehensive, systematic record of economic transactions of the residents of a country with the rest of the world during a given period of time usually one year. A consistently positive BoP reflects more foreign investment and money c…

Demand forecasting is a systematic process involving anticipation of demand for the commodity or services of a company in the future under certain competitive forces and uncontrollable forces. According to Evan J Douglas . "Demand forecasting is an estimate of sal…

Strategic management deals with the long-term plans and actions of an organization. These decisions arrive in the light of both internal and external factors that affect the working of an organization. The management basically evaluates the possible opportunities and s…

It is philanthropy and a set of activities that corporates exercise in order to perform their moral duties. It is a humanitarian exercise in order to perform their moral duties. It is humanitarian, community work or social work done by enterprises. It is the relationsh…

Industrial Relations (IR) refers to all types of relationships between all the parties concerned with industry, i.e. employees, employers, trade union, management and the State Government who regulate these relations. Thus, IR is concerned with the relationship between…

The term organizational structure reveals an established pattern of relationships among the constituent parts of the organization. It prescribes the relationships among various activities and various positions in an organization. It is nothing but a chart of relationsh…

Industrial buying behavior is the pattern of actions by a company involved in manufacturing, processing and other heavy industry. Many of these companies are required to make regular purchases as a means of supplying their business. Industrial buying behavior is ultima…

Personal selling consists of individual and personal communication in contrast to mass advertising communication. According to Cundiff and Still , "Personal selling is basically a method of communication. It involves not only individual but also social behavior …

Scientific Management (Taylor's Theory): This theory synthesized and evaluates the workflows of an organization. It aims at enhancing labor productivity and economic efficiency. Thus, it applies science, processes and standards in management. Administrative Theory…