There was a time where CDs, VCRs, and Typewriters were the most popular. But today in the 21st century they have become outdated. This is one of the best examples of a product life cycle (PLC). So, what is the product life cycle (PLC), what are its stages, and why it is important, let’s find…
Qualities of a Good Manager What makes a manager good? Being a manager means accepting the responsibilities and authority to execute the given tasks. Every manager needs to have the necessary skills and qualities to achieve organizational interests effectively. Good managers have the potential to change the future of the organization for the better. The…
Suppose you made a product you thought people would like and distributed it to the market. But you did not get the expected sales or expected results. After some time you realize that you have successfully wasted your money, efforts, and time. This is what happens when you launch a new product or expand your…
Every organization’s success or failure is directly proportionate to how its activities are managed. How organizational activities are directed toward the achievement of organizational goals determines whether or not the goals will be achieved. The process of outlining how the activities should work is considered an organizational structure. Let’s understand it in detail. What is…
Mechanistic Vs Organic Structure Mechanistic and organic organizational structures are the two most common organizational structures. Mechanistic structure refers to traditional types of organizations. Whereas, the organic structure refers to modern types of organizations. Both the organic and mechanistic structures have been practiced in management practice. Both differ from each other and both have their…
Tips To Manage Team Being a manager your task is not only to form teams you have to direct them toward the achievement of desired organizational goals. To manage a team effectively you should be able to direct teams in the right direction. The following are the notable strategies you can use for effective team…
Suppose your goal is to get +90% marks in your coming examination. Your goal is set, Now what you need to do is to decide how to (read) prepare, what to read, whether to take tuition or not, self-read or ask for help from seniors, etc. All you have to do is to be prepared…
What is Classical Management Theory? Classical management theory is the theory that is considered to increase the efficiency and productivity of an organization through autocracy, division of labor, clear hierarchal structure, and incentives. It holds the belief that workers only have physical and economic needs and incentive is the key to motivating them to work…
Principles of Insurance Insurance is a legal contract between the insurer (insurance company) and the insured (policyholder i.e. individual or a business). Understanding the principles of insurance and how these principles work can be beneficial for you in deciding whether or not you need the insurance contract or not. Further, these principles let you decide…