A mission statement is a strong and exciting statement that tells everyone what an organization is all about and what it wants to achieve. It should sound professional but also interesting and clear. The goal is to tell people what the organization wants to do and inspire them, leaving a good impression.
Line and staff authority serves as the foundation of well-structured and effective organizations. This framework, by establishing clear roles, responsibilities, and areas of expertise, facilitates efficient decision-making, encourages collaboration, and contributes to organizational success.
Howard Sheth model of consumer behaviour helps us understand why people choose certain products. It looks at how our thoughts, the people around us, and our culture all affect our decisions. It’s a useful way to find out why consumers do what they do.
Hawthorne experiment by Elton Mayo gets credit for the change in the outlook of the management towards workers. George Elton Mayo and his colleagues conducted the Hawthorne Experiments.
In the field of management, Henri fayol 14 principles of management remain a fundamental guide for achieving effective organizational leadership. Developed by Fayol in the early 20th century, these principles continue to offer valuable insights for today’s managers.
Budgetary control is the establishment of budgets relating to the responsibilities of executives of a policy and the continuous comparison of the actual with the budgeted results, either to secure by individual action, the objective of the policy or to provide a basis for its revision.