An algorithm in computers can be defined as step by step procedure that helps in solving simple and complex computational problems. We can also refer algorithm as a method used by the computer to determine the solution of a problem. And this algorithm behavior makes it different from the terms like process, technique, or method. […]
Joint Venture
What is a Joint Venture? Joint ventures are short-term business endeavours that two or more people undertake together and share earnings and losses in a predetermined ratio. If no agreement is made on the division of earnings or losses, they are distributed equally among all parties. Joint venturers are appropriate when there are constraints that […]
Staffing
What is Staffing? Staffing is the process of recruiting individuals after evaluating their skills and expertise and assigning them to certain job responsibilities in accordance. One of the most important management functions is staffing. It includes the process of filling the open position with the appropriate persons at the appropriate job, at the appropriate time. […]
Directing
What is Directing? Giving instructions and guiding others while they work is called directing. A method or approach known as “directing” involves educating, guiding, motivating, counselling, supervising, and leading individuals toward the achievement of corporate goals. Management experts define direction as all the actions used to motivate subordinates to perform their jobs effectively and efficiently. […]
Can Artificial Intelligence Replace Human Intelligence?
Can artificial intelligence replace human intelligence? The question is spreading like wildfire after the entry of ChatGPT and is being discussed in the news, social media, internet, leaving no one behind. So, are humans and machines really in some sort of competition with each other? Well, the developers always claim AI is an approach that […]
Management
What is Management? Management is the process of getting things done through people and focusing individual efforts around a shared goal. It is a method of deriving tasks from others in a coordinated and integrated manner in order to achieve certain goals through the efficient use of material resources. Management can benefit by mobilizing the […]
Organizing
What is Organizing? Organising fundamentally refers to a process that combines resources with human labour to create a cohesive whole that can be used to accomplish specific goals. The management task of organising comes after planning. It is a process that involves the coordination and fusion of human, material, and financial resources. To achieve outcomes, […]
Planning
What is Planning? The first fundamental role of management is planning. Managers perform this role by defining the objectives of the organisation, outlining how they will be achieved, and allocating resources within the company to do so. Planning entails choosing missions, objectives, and the actions necessary to attain them; it also necessitates decision-making, which entails […]
Marketing Research
What is Marketing Research? Marketing research is a methodical, unbiased examination of issues related to the promotion of products and services. Any aspect of marketing can use it. An organization’s only available instrument for staying in touch with its external operational environment is research. The goal of marketing management is to meet customer needs. To […]
Financial Management
What is Financial Management? An essential component of general management is financial management. It is focused on the responsibilities of the business firm’s financial managers. Effective money management in the firm is the major focus of financial management. Financial management as it is used by commercial organisations is also known as company finance or corporation […]