Tag: objective

Introduction to Management

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Organizational Management

“Management is about making plans and implements them effectively.”

“Management is a process of getting activities completed effectively and efficiently with and through other people.”

“Management is doing things efficiently and effectively.”

Efficiency:
Efficiency is to get maximum output from minimum input.
OR
It is to get maximum profit from minimum resources.

Effectively:
 Effectiveness means goal attainment and doing right things at the right time.

  • Minimum resource utilization
  • Vital part of management
  • Goal/Objects Attainment and goals should be achievable.
  • Management should be efficient as well as effective.
  • A person can be efficient without being effective. He may get the things done with minimum sources but as far objective isn’t met it’s not effective.

Need / Importance of Management

Good Management is required for:

  • Optimum utilization of resources (Cost competitiveness)
  • Motivates personnel (Effectively utilize human resource)
  • Facilitates innovation (Explore opportunities)
  • Improve Efficiency (get the things fast or efficiently and effectively)
  • Competitive Advantage (Survive and win over competitors)

Business Research Methods

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Business Research:
“It is defined as an organized, systematic, critical, data based, objective, scientific inquire or investigation into a specific problem undertaken to find an answer.

Types of Research

There are three perspective research can be divided in.

1. Application

a. Applied Research:
“Research done with the intention of applying the results of the findings to solve specific problems currently being experienced in the organization is called applied research.”

b. Basic Research:
“Research done to enhance the understanding of certain problems that commonly occur in organizational settings and seek methods of solving them.”

2. Objective

a. Deceptive:
“A study classified to describe systematically a problem, situation or a phenomena.”

b. Correlational:
“Main emphases is to discover or establish the existence of relationship or interdependence between the two or more aspects of a situation.”

c. Explanatory:
“It attempts to clarify why and how there is a relationship between the two aspects of a situation.”

d. Exploratory:
“It is conducted with the objective either to explore an area where little is known or to investigate the possibilities of understanding a particular research study.”

3. Inquiry

a. Quantitative:
“It is a structured approach in which every thing that forms the research process that are objectives, design and structure questionnaire for the survey is pre-determined.”

b. Qualitative:
“An un-structured approach allows the flexibility in all the aspects of research process.