STUDY TO ENLIGHTEN YOURSELF
SETTING OBJECTIVES IN MANAGEMENT Objectives are the ends for the achievement of which managerial activities are directed. Objectives are the pre-requisites of planning. It constitutes the purpose, the attainment of which is necessary for the business. These are the standing plans of the business. These are not only helpful in planning but also in other…
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TYPES OF PLANNING IN BUSINESS Planning is an intellectual process of thinking resorted to decide a future course of action regarding: What to do? How to do? Who will do it? When to do? Planning is first and foremost function of the management of ‘THINKING BEFORE DOING’. It is a bridge between the present situations…
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PROCESS OF PLANNING Planning is a process that involves the setting up of the business objectives and allocation of resources for achieving them. Planning determines the future course of action for utilizing various resources in a best possible way. It is a combination of information handling and decision making systems based on information inputs, outputs…
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ADVANTAGES OF PLANNING IN BUSINESS Planning helps the organization in achieving its objectives early. The planning helps the organization in many ways. Some of the advantages of planning in business are as follows: BETTER UTILISATION OF RESOURCES Planning is deciding in advance regarding what to do, how to do, who is to do it, when…
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OBJECTIVES/ IMPORTANCE OF PLANNING IN MANAGEMENT Planning is an essential function of the management. It aims at making the realistic plans with a view to utilize the resources optimally and contribute to the efficiency and effectiveness of the economy. The following point will clearly illustrate the Importance of Planning in management: 1.ESSENTIAL FOR MODERN BUSINESS…
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MEANING Planning is an intellectual process of thinking resorted to decide a future course of action regarding: What to do? How to do? Who will do it? When to do? It is first and foremost function of the management of ‘THINKING BEFORE DOING’. It is a bridge between the present situations and future circumstances. ACCORDING…
METHOD STUDY Method Study is one of the Work Study techniques introduced and recommended by Father of Scientific Management FW Taylor to be used to choose the best way of doing the job. Method study is a systematic method of analyzing the method of doing a job including human movements involved in it. So it…
MOTION STUDY Motion Study is a scientific technique introduced by Frank Gilbreth. It is one of the techniques of work study recommended by the FW Taylor to decide upon chosing the method that will be best for doing a job effectively and efficiently. Motion study is a systematic way of determining the best method of…
MEANING Time Study is a scientific technique introduced by FW Taylor as a part of work study. Time study is a structured process of directly observing and measuring human work using a timing device to establish the time required for completion of the work by a qualified worker when working at a defined level of…
WHAT IS WORK STUDY Under Scientific management, the management is responsible for determining the task for every employee which he performed in standardized working conditions. The standard work may be determined through proper investigation and taking into account average worker abilities. According to Taylor, the best way of doing the work is that which requires…
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