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Definition Of An Office

DEFINITION OF AN OFFICE

An office is generally a room or other area in which people work, but may also denote a position within an organization with specific duties attached to it (see officer, office-holder, official); the latter is in fact an earlier usage. Office as place originally referring to the location of one’s duty. When used as an adjective, the term office may refer to business-related tasks.Continue Reading

General Overview Of Management

GENERAL OVERVIEW OF MANAGEMENT

INTRODUCTION

The term “Management” is commonly used by everyone regardless of social status, position within an organization as well as level of education. Management can be and perceived in various ways such as process and profession or discipline. However, as as an organization (whether profit or non-profit) is eoncerned, Management can be understood as an established way of handling human and non-human ftiources in most effective and efficient manner.Continue Reading

Purchasing Functions & Roles In Retail Management

PURCHASING FUNCTIONS AND ROLES IN

RETAIL MANAGEMENT

What is Purchasing:

Purchasing is the act of and the functional responsibility for procuring materials, supplies, and services” (Giwa, Asaju, 1983) Non-marketers see purchasing as simply the act of or the process of buying. To the practitioner it involves determining the need and ensuring the supply of the need with the minimum cost.Continue Reading

Internal & External Appraisal Of An Organization

Internal & External Appraisal Of An Organization

INTERNAL APPRAISAL – STRENGHTS AND WEAKNESS

The purpose of the internal appraisal is to undertake the analysis of the strengths and weakness as of the organization. This is usually the result of a project undertaken by a team of mixed marketing, production, research and planning).Continue Reading

Significance To Corporate Perfomance Measures

CORPORATE PERFORMANCE MEASURES

SIGNIFICANCE TO CORPORATE PERFORMANCE MEASURES

The importance of performance measurement can be summarized as the key to fulfilling management responsibility to the shareholders thus:Continue Reading

Formation Of Contract Of Employment

FORMATION OF CONTRACT OF EMPLOYMENT

INTRODUCTION

The elements of a contract of employment depend upon the right and obligations of parties.

PROMISE? AGREEMENT ? AND BARGAIN

A contract of service is generally governed by the common law rules of contract; a “contract” is a promise or a set of promise which the law will enforce”. The essential elements of a valid contract are “promise”, “agreement”, and bargain”.Continue Reading

Manpower Planning And Budgeting

MANPOWER PLANNING AND BUDGETING

INTRODUCTION

Manpower planning is a means to an end. In this case, the end is to secure supply of manpower able to undertake all the activities required to achieve the organization’s corporate objectives. In management process, organization’s corporate objectives are fundamental.Continue Reading

Forecasting – Business Technological Techniques

FORECASTING (BUSINESS TECHNOLOGICAL TECHNIQUES)

INTRODUCTION

Clearly, the better management’s ability to predict future internal and external environmental condition in a particular situation the better its chances of formulation attainable plans. Infact, early management writer like Henri Fayol considered predicting the future and planning accordingly to be the very essence of management. In his view, all organizational plans were an amalgamation of several forecasts.Continue Reading

Business Social Responsibility and Ethics

Business SOCIAL RESPONSIBILITY AND ETHICS

BUSINESS SOCIAL RESPONSIBILITY AND ETHICS

The objectives of a business enterprise are to maximize profit or at least break even if they are to survive. It has been though that nationalized industrial may operate at a loss, since they are serving the public interest. Today, we have seen the trend in privatizing and commercializing the so called nationalized industries as to make them profitable.Continue Reading

Setting Objectives in Business – The Importance

How To Set Objectives in Business

Setting Objectives in Business – The Importance

THE PURPOSE OF OBJECTIVES

a) To provide greater direction: Everyone needs some sense of purpose or direction and time spent on questioning aims and purpose, on studying future patterns, on detailed planning and control, can prove to be most beneficial. Closely related to the idea of better planning is the acceptance that objectives allow a more objective and thorough analysis of the alternative opens to the organisation before action is taken.Continue Reading

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