Management is concerned with the group of people who collectively works together to make the company successful. This group of people further forms an organization to achieve the goals for which it has been created.
Privatization: It is a process of transferring an enterprise, industry or a service from the public sector to the private sector.
Liberalization: The term refers to the removal or loosening of control or restrictions on something to empower economic or political system.
Globalization: Globalization is a process used by businesses or many other organizations for developing international impact of their product or service or to kick-start operation on an international scale.
Liquidity: A process of converting an asset into cash without any loss.
Entrepreneur businessman: A person who is a pioneer in its business is known as an Entrepreneur.
Ownership interest: The term defines the level of an interest an individual show in the business operations.
Entrepreneur: This is used for those who set up a business in terms of offering product or services and takes financial risk in anticipation of profit.
Manager: A manager is responsible person in an organization who looks after all the organization functions.
Board of Directors: The term is referred to a group of people who together look after the organization's activities which can be either for business an organization or a government agency.
Stakeholder: Stakeholder is a term used for people who show an interest in a business and makes a wager deposits of money and buys a stake in the company.
Bureaucracy: Bureaucracy is a term refers to a specialized system and processes designed to maintain uniformity and controls within an organization.
Co-operative establishment: Group of people collectively conducting the business activity with each other’s cooperation.
Contingent Approach: Contingency approach also termed as a situational approach which defies anyone universal acceptable Management Principles (rules) and holds that the management technique should be depended on the circumstances faced by an organization.
Fads: Fancy terms used in the organization. For example, Business Development is commonly used for people engaged in the sales business.
Anatomy of a System: A way of describing the system, showcasing inter-dependencies and linkages between the different function of a system.
Work Ethics: A moral belief of what is right and what is wrong at work. This involves respect, behavior, attitude, integrity, communication, and interaction and one’s behavior with others. People with strong work ethics embody certain principles that guide their work behavior.
Functional specialization: The term refers to all the specialization areas in every organization.
Process Orientation: With the idea of providing the best customer service, process orientation refers to focusing on every set process.
Execution: Implementation of actions or ideas is known as execution.
Conversion: The changing process of something from one form to another is known as conversion.
Quality Assurance: The idea of maintaining things or product in the desired quality by paying attention to each stage of the delivery and production of the service or product.
Result Oriented: A term used for the result or target oriented people.
Vision: Looking forward to the upcoming organization’s plans.
Mission: The idea of an organization of achieving for the customers is known as the mission.
Risk Taking: The capability of taking a risk in hope of gaining the desired result.
Change Management: Change management is a term referred to the change and development of an organization or a company.
Premising: An argument or a theory on some particular topic before taking a final decision is known as premising.
Proactive: Handling a particular situation before it gets out of control.
Reactive: Decisions taken in responding to the situation is known as reactive.
Prescriptive: Prescriptive is a term related to the imposition and enforcement of a rule and method.
Leadership: The ability to lead an organization or a group of people and influence them towards a particular goal.
Controlling: Controlling refers to the act of observing the behavior or running of activities in an organization and rectifying if required.
Coordination: The term refers to the organization of the group in terms of maintaining unity to achieve a common goal.
Management: The process of managing or controlling things or people is known as management.
Administration: Administration is a process in which a particular organization runs or work.
Organization: A planned or an organized group of people working together for a common goal.
Brainstorming: A group activity in which every participant contributes and shares their ideas on the same topic and tries to find a conclusion.
Scalar Chain: It is a technique wherein communication in an organization pass through a proper chain of command.
Esprit de Corps: It’s a French term that means the union of strength. A feeling of pride and loyalty amongst the group members.
Innovations: Innovation refers to the effort of an organization or people to develop a new idea, product or a method.
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