State how 'Growth Prospects' affect working capital requirements of a company?
When a company is having higher growth prospects, the requirement for working capital will be more due to higher production and sales target.
Describe any five reasons which clarify that management is gaining importance day-by-day.
’Organising involves a series of steps in order to achieve the desired goals.” Explain these steps.
With the help of any four points, explain the crucial role that organising plays in an enterprise.
Principles of Taylor and Fayol are mutually complementary. One believed that the management should not close its ears to constructive suggestions made by the employees while the other suggested that a good company should have an employee suggestion system whereby suggestions which result in substantial time or cost reduction should be rewarded.
Identify and explain the principles of Taylor and Fayol referred in the above para.