§        This concept is based on the existence of a budget against which actual results are compared. If the budget was not well formulate...

Advantages of Management by Exception   It reduces the amount of financial and operational results that management must review.  This m...

Authority and Power Power is a broader concept, and it is the ability of individuals or groups to induce or influence the beliefs or acti...

Leadership Styles Leadership style deals with the way leaders influence the followers. It can be boss centered, subordinate centered or r...

Leadership is an important aspect of management. A manager should have some leadership skills to effectively manage an organization. Leader...

MacGregor’s Theory X-Y Theory X and Y are the theories of motivation, created and developed by Douglas MacGregor in 1960s. They describe ...

McClelland’s Theory of Learned Needs David C McClelland proposed the theory of learned needs (also called the need theory) in 1960, which...

The ERG theory was forwarded by Clayton Alderfer in 1969 and this theory is similar to Maslow’s Theory of hierarchy of needs. The ERG theor...

The theory of hierarchy of needs is the most popular motivation theory forwarded by psychologist Abraham Maslow, in 1943. The theory views ...

The importance of motivation in an organization can be justified by the following 1.        To understand individual behavior -        ...