Long Answer TypeDescribe any five reasons which clarify that management is gaining importance day-by-day.
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.
’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.
Short Answer TypeWhat is the primary objective of 'Financial Management’?
Financial management is concerned with the procurement and utilisation of funds in a proper manner so as to accomplish the objectives of the organization.
Its primary objectives include:
a) Maintenance of adequate liquid assets and
b) Profit maximization of the organisation
State any one consequence of a well performed 'allocative function' of financial market.
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