Business Studies

10. Sales Promotion

Sales promotion is an effort to stimulate consumers to purchase more and more of a particular commodity. In this way, sales promotion includes advertising, personal selling and also publicity efforts of the enterprise. We may now define sales promotion in marketing activity, which involves personal selling, advertising, and supplementary efforts to promote sales.Sales promotion stimulates …

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9. Marketing Management

Marketing is a term, which has got different meaning for different groups. For housewives marketing means shopping, for sales person it is merchandising (product designing) and for buyers it is purchasing. If we synthesise these views we understand that marketing is all sort of activities which facilitate the exchange of goods, services, persons, place and …

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8. Job evaluation and remuneration

Employees work in the different capacities. The level of physical and mental work, skill, responsibility, education, experience, required supervision etc. are different from job to job. It is, therefore, necessary that employees working with different job characteristics should be rewarded according to their job characteristics. It requires that effective job evaluation techniques should be applied …

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7. Communication

Management as we know is a team work. The team consists of all the individuals working in the enterprise. These individuals may be managers at all levels and workers in different capacities. Achieving the objectives of the enterprise requires appropriate link, contact and relationship among employees at different levels and various positions. In other words, …

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6. Leadership

An enterprise consists of various individuals grouped together to achieve common objective. Every individual is different from others, so we need a dynamic and dominating personality to bind individuals together and motivate them to contribute their best efforts for achieving cherished goal of the business. The person doing it is leader. Manager must possess the …

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5. Staffing

Selection, training, development and remuneration of employees. It lays stress that the management should make selection of employees strictly in accordance with the job requirement of the enterprise.Staffing is the function of manning the organisation structure with competent staff. The process of staffing involves the following: Features of Staffing Importance of StaffingCompetent, co-operative and dedicated …

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4. Supervision

The employees are generally careless, shirkers and trouble makers, so it becomes necessary that their energies must be controlled and channelised towards achieving the desired objectives. The control, direction and channelisation of employees efforts is termed as Supervision.Elements of SupervisionThe following three are the important elements of supervision :Issuing necessary instruction to employeesThe supervisor issues …

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3. planning

Every business enterprise has its own predetermined objectives to be achieved. In order to achieve the objectives in the best possible manner, it requires a lot of mental exercise based upon imagination, foresight and judgement for deciding the tasks to be undertaken and the techniques to be adopted. No doubt, the success lies in the …

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2. Scientific Management

Scientific management is logical approach towards the solution of management problems.When F.W. Taylor assumed the responsibility of management, he realised the weaknesses of traditional method and consequentially made factual study of every work independently and advocated the use of standardised raw material, equipments, methods, techniques and the most appropriate worker on every job.The scientific management …

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Modern business is very complex and complicated. It requires high degree of technical, professional and managerial ability. Specialisation of working force, mass scale production, continued technological advancements, complexities of human relationship, constant changing socio-economic situations and business opportunities, require an effective and efficient management to tackle these diverse problems.MeaningTraditionally management meant getting things done by …

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