Business On Your Tips

Hey!  Reader, a very good morning. In this blog post, I'll be explaining principles framed by sir Henri Fayol. These principles are very useful in running of any business organisation. Principles of sir Henri Fayol don't guarantee the success of the firm, but the application of these principles may lead to efficiency and upliftment of confusion in an organisation. Without wasting any more time, let's get started. {} Principles By Henri Fayol Division of Work This is the first, and one of the most crucial principles of Fayol, According to this principle work should be divided into small manageable and feasible tasks. A competent who is eligible should be hired. Hiring qualified employ will lead to specialisation, and the speciality will result in inefficiency in the organisation. Authority And Responsibility Authority - It refers to the power of giving orders and maintain obedience Responsibility -  It refers to complete the assigned task. Accordi

Very good morning to you guys. In this blog post, We are starting a new chapter of business studies class 12th named as principles of management. I've completed 2 chapters on my blog; you may check them out for increasing your conceptual knowledge. So without wasting time, let's get started. Nature/Characteristic/Features of Principles of Management General Guidelines The principles of management are Guidelines to action but do not provide readymade, straitjacket solution to all managerial problems. This is because real business situations are very complex and dynamic in nature and are the results of many factors. For example, In dealing with a case of conflict between 2 departments, a manager may emphasise the primacy of overall goals of an organisation. Universal Applicability Principles of management principles that the principles of management apply to all type of organisations, business as well as non-business firms, small as well as large

 Controlling Importance And Its Features Controlling Importance Accomplishing organisational goals The controlling function measures the progress towards the organisation goals of bringing light to the derivations indicates corrective actions. By this controlling helps the organisation to be in the right track so the organisational goals can be achieved effectively and efficiently. Judging accuracy of standards A controlling enables management to verify whether the rules are accurate or not, whether the standards are realistic or not. Making efficient use of resources By exercising controlling a manager seeks to reduce wastage and spoilage of resources. Each activity is performed according to the predetermined standards and norms, so this ensures that resources are using efficiently. Ensuring order and discipline Controlling creates an atmosphere of order and discipline in the organisation. It has to minimise the dishonest behaviour of employees by keep

Hello guys, how are you? I hope you all are good. So from today, we will be starting in a new chapter of business studies class 12 that is controlling so without wasting time lets get started... Controlling Controlling function of management means ensuring that activities in an organisation are performed as per the plans. Controlling process Controlling is a systematic process and involves 5 steps Setting performance standards Measurement of actual performance Comparison of actual performance with standard performance Analysing deviation Taking corrective actions Sometimes this process ends at the fourth step that is analysing division due to positive deviations. So now let's start discussing each of the step briefly Setting performance standard The first step of controlling process setting up performance standards. Standards are those criteria against which actual performance would be measured. Thus it acts as a benchmark. There are

Three Tier Redressal Machinery   Hello, guys, this is the last blog post on the chapter consumer protection and I hope you guys enjoy my blog post so without wasting any time let's get started.... The three-tier machinery  consist of District forum, State commission and National Commission. Did you know at present there are 610 district forms and 35 state commissions? District consumer dispute redressal forum They are set up by State Government in which district the district form has one president in two members one of whom is female they all are appointed by State Government. State commission They are set up by the concerned state government. state commission consists of one President and not less than 2 members one should be female. They are also appointed by the concerned state government. National commission National Commission is set up by the central government. It consists of women president in not less than 4 members. One of whom

Consumer Rights Very good morning to you guys. In this blog post, I will continue this chapter consumer protection Act you may check my last blog post for previous things... Right To Be Heard It states that consumer has the right to file a complaint in to be heard in the case of dissatisfaction of good or service or short falling in the consumer expectation. it is because of this reason many companies don't have a consumer support centre and grievance cell. Right To Seek Redressal It states that the consumer has the right to get relief in case of product or service for shots of his expectation. Consumer protection act provides a number of a reliefs to the consumer. For example removal of the defect in good or deficiency in service, replacement, return, compensation paid for any loss or injury. Right to consumer education The consumer has a right to acquire knowledge and to be well-informed consumers throughout life. He should be aware of his right