What is Management? Definition, Features, Principles, Functions, and Importance

management definition

What is Management? Management is the process of getting things done through others with the help of some basic activities like planning, organizing, directing, coordinating, and controlling to achieve the desired goals and objectives. It is the basis for every organization. An organization can not run for a long time if its all devices are … Read more

101 Small Business Ideas in Nepal To Make Money in 2023 [Start with Low Budget]

101 Small Business Ideas in Nepal

Small Business Ideas in Nepal Are you looking for small investment business ideas in Nepal? You are at the right place. Starting a business is always a better choice than doing the work for others. Nepal has immense opportunities for small businesses with a mixture of traditions and improving the economic conditions of people. Amidst, … Read more

43 Great Small Business Ideas in India To Start in 2023

43 Great Small Business Ideas in India To Start in 2023

Small Business Ideas in India: Overview Are you planning to start a business in India and looking for new business ideas to try? That’s great. Small business ideas have great potential in the Indian market. Here, I have listed more than 40 small business ideas you can easily within a low budget establish in the … Read more

52 Great Small Business Ideas Anyone Can Make Money Today

52 Great Small Business Ideas Anyone Can Make Money Today

Small Business Ideas Are you planning to start a business and looking for new ideas to try? That’s great. Small business has a lot of opportunities in the market today. Here, I have listed 52 small business ideas that you can try now. But, before you can select a business idea you must consider three … Read more

The 7 Important Steps in the Process of Decision Making (Explained)

decision making process

What is Decision Making Process? The decision making process includes a series of steps following which a manager selects the most feasible course of action from the available alternatives. It is the responsibility of the manager to make an effective decision and implement it in the best possible ways for the prosperity of the organization. … Read more

Decision-Making: Definition, Features, Types, Process, & Importance

Decision-Making

What is Decision-Making? Decision-making is the process of selecting the best course of action out of many available alternatives. It is a managerial function to solve organizational problems by choosing an exact course of action or plan. Decision-making is an essential function of management. It is a rational and scientific method of choosing the best … Read more

7 Advantages and 5 Disadvantages of Porter’s Five Forces Model [Explained]

Pros and Cons of Porter's Five Forces Model

Pros and Cons of Porter’s Five Forces Model Porter’s five forces model is an effective tool to analyze the competitive positions of itself and other competitor organizations. It helps to effectively demonstrate the competitive positions of the company. Let’s look at some of the notable advantages and disadvantages or pros and cons of Porter’s Five … Read more

The 10 Important Theories of Management [Explained]

theories of management

Theories of Management Management theories are the concepts, principles, and general rules that give ideas and methods and guide the managers for the effective management of the business. There are many theories of management from them a manager can choose one theory that’s suitable for his business environment. The top 10 theories of management include: … Read more

What is Decision Theory? Definition, Contributors, Process, and Pros/Cons

decision theory in management

What is Decision Theory? The decision theory of management explores how choices are made within uncertain and unknown environments. It combines mathematical, philosophical, statistical, and psychological tools to understand the decision-making process. By analyzing an individual’s beliefs, attitudes, and desires, decision theory helps determine the best logical decision possible in unpredictable circumstances. Simply put, decision … Read more

What is Contingency Theory? Definition, Contributors, Variables, and Pros/Cons

contingency theory of management

What is Contingency Theory? Contingency theory, also known as the situational or practical approach, suggests that there is no one-size-fits-all solution to management problems. The approach recognizes that different situations call for different ways of handling problems. According to the contingency approach, the best way to lead, plan, organize, and conduct managerial activities depends on … Read more