Effective management accounting practices can improve decision-making in organizations, which need sound fundamentals but also speed when trying to decide which strategic paths to follow. In short, ...

In the early 1900s, Henri Fayol developed a modern management theory that business leaders still use today. Fayol's theory was honed while he worked his way up the ladder to become the director of a ...

Frederick W. Taylor – widely regarded as the founder of scientific management – revolutionized how businesses operate by introducing time-motion studies, standardized processes and incentive-based ...

The differences between Unity of Command and Unity of Direction are as follows: One subordinate should receive orders from and should be responsible to only one superior. Each group of activities ...

There is a famous principle that was discovered by an Italian economist that is now referred to as the 80-20 principle. In essence, it says that 80% of your results in most cases come from 20% of your ...

Rather than a specific management tool or process, Total Quality Management (TQM) is an approach that small business owners or managers hold in running their company. They focus on quality and price ...

MCQs for Class 12 Business Studies Chapter 2: This article presents MCQs for CBSE Class 12 Business Studies Chapter 2, Principles of Management. You can also find a ...