Communication in its simplest sense involve two or more persons who come together to share, to dialogue and to commune, or just to be together for a festival or family gathering. Dreaming, talking with someone, arguing in a discussion, speaking in public, reading a newspaper, watching TV etc. are all different kinds of communication that we are engaged in every day. Communication is thus not so much an act or even a process but rather social and cultural ‘togetherness’. Communication can be with oneself, god, and nature and with the people in our environment. Interaction, interchange, transaction, dialogue, sharing, communion, and commonness are ideas that crop up in any attempt to define the term communication.… Read the rest
Abey Francis
Abey Francis, a freelance writer and a professional blogger who enjoys
the challenges of creativity and attention to detail. He has published
many articles and editorials regarding management on different blogs and online journals. His articles stimulate thinking of corporate managers
on key issues of organizations and management. His research interests
focus on international management, International trade finance,
Investment management, leadership, social capital and knowledge
management in enterprises and cross-culture studies.
Data Mining – Meaning, Steps and Business Applications
Data mining or knowledge discovery is the process of analyzing data from different perspectives & summarizing it into useful information. This information can be used to increase revenue & cut cost or both. We know that data mining software is one of a number of analytical tools for analyzing data. It allows users to analyze data from many angels & categories it. It also summarizes the relationship identified. Technically speaking data mining is the process of correlations among dozens of fields in large relational database. In other words it is the process of sorting through large amount of data & picking out important information.… Read the rest
Frederick Taylor’s Principles of Scientific Management
Frederick Winslow Taylor well-known as the founder of scientific management was the first to recognize and emphasis the need for adopting a scientific approach to the task of managing an enterprise. He tried to diagnose the causes of low efficiency in industry and came to the conclusion that much of waste and inefficiency is due to the lack of order and system in the methods of management. He found that the management was usually ignorant of the amount of work that could be done by a worker in a day as also the best method of doing the job. As a result, it remained largely at the mercy of the workers who deliberately shirked work.… Read the rest
Definition of Management by Eminent Authors
Management is a word that is quite wide spread and cannot ever have a precise and concise definition. There have been lot of definitions to it in the past that have tried to define the meaning, objective and scope of management in our lives but none of them has been able to precisely and completely define the scope and meaning of management. Many eminent authors on the subject have defined the term “management”. Some of the widely known definitions of management are as mentioned here.
According to Lawrence A Appley;
… Read the rest“Management is the development of people and not the direction of things”.
Important Characteristics of Management
An analysis of the various definitions of management indicates that management has certain characteristics. The following are the salient characteristics of management.
1. Management aims at reaping rich results in economic terms: Manager’s primary task is to secure the productive performance through planning, direction and control. It is expected of the management to bring into being the desired results. Rational utilisation of available resources to maximise the profit is the economic function of a manager. Professional manager can prove his administrative talent only by economising the resources and enhancing profit.
According to Kimball – “management is the art of applying the economic principles that underlie the control of men and materials in the enterprise under consideration”.… Read the rest
Professionalization of Management
There has been a growing trend towards professionalization of management. Professionalization imparts a certain social responsibility and dignity to management. A professional cannot be controlled or directed by the client. He has professional knowledge and judgment which he uses to make his decision. Thus, professionalization makes business more efficient, dynamic and socially responsible. The growth of management education has contributed to professionalization in the business field. The company form of business organization which has split ownership from management and the gaining popularity of the company form of business organization have increased the need for professional managers.
Is Management a Profession?… Read the rest