Leadership vs Management

Managers and leaders differ in how they create an agenda to develop a rationale for achieving the agenda and execute plans and in the types of outcomes they achieve.

Managerial Skills: 5 Skills Managers Need (Explained)

5 managerial skills are technical skills, conceptual skills, interpersonal and communication skills, decision-making skills.

Internal Control System: 5 Components of Internal Control System

Internal controls system includes a set of rules, policies, and procedures an organization implements to provide direction, increase efficiency and strengthen adherence to policies.

Difference of Unity of Command and Unity of Direction

Unity of command and unity of direction, are both important management principles.

Equity Theory of Motivation

In the equity theory of motivation, employee’s motivation depends on their perception of how fair is the compensation and treatment for their work input. Equity Theory states that the employees perceive what they get from a job situation (outcomes) about what they put into it( inputs) and then compare their inputs- outcomes ratio with the…

Managerial Grid Model of Leadership Explained

Managerial Grid Model of Leadership indicates 5 basic leadership styles of practicing managers representing various combinations.

Credit Management Policy

Credit management policies are rules and guidelines established by top management that govern the company’s credit department and its performance in the extension of credit privileges.

How to Measure Management Performance and Effectiveness (Explained)

Measuring the management performance and effectiveness is necessary for knowing if organization’s resources are being used and find out whether they are being spent effectively. Effective management means; reaching goals in an efficient manner using less amount of resources.

What is Management by objectives (MBO)? Defined and Explained

Management by objectives (MBO) is a systematic approach to focus the overall management activities and resources on set organizational goals.

Functional Departmentalization: Advantages and Disadvantages

Functional departmentalization groups together jobs involving the same or similar activities as it allows the organization to staff all important positions with functional experts and facilitates coordination and integration.