Strategies for New Product Development   Developing new products or modifying existing products so they appear new, and offering those products to present or new markets is the definition of…

Budget   Table of Content:   Meaning of Budget Definition of Budget Characteristics of Budget Objectives of Preparing Budget     Meaning of Budget   A budget is a financial plan summarising…

MANAGING BY OBJECTIVES (MBO) Meaning  of MBO  It was Peter F. Drucker who first one who gave the concept of MBO to the world way back in 1954 when his…

Advantages and Disadvantages of MBO Advantages of MBO 1) MBO Helps and Increases improve motivation: It is so because MBO relates overall goals to individual goals, and helps to increase…

Methods of Decision Making 1)Marginal Analysis: This technique is used in decision-making to figure out how much extra output will result in one more variable (e.g., raw material, machine, and…

 Difference between Problem Solving and Decision Making Problem-solving is a mental process and is part of the bigger problem process that includes problem-finding & problem-shaping. Considered the most complex of…

Decision Making Decision Making Meaning Decision-making may be viewed as the process of selecting a course of action from among several alternatives to accomplish the desired result. The objective of…

 Forecasting Meaning of Forecasting Forecasting is the process of estimating the relevant events of the future, based on the analysis of their past and present behaviour. The future cannot be probed…

Techniques of Forecasting  The various techniques of forecasting demand may be grouped under the following categories: Qualitative Techniques/Opinion Polling Method In this method, the opinion of the customers, sales force…

 Sources of Recruitment Sources of recruitment are the means of selecting the candidates for the process of recruitment. Through the sources of recruitment, one gets to know about the availability…