Role of FM in an Organization
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Financial management involves acquiring the necessary financing for a business from sources that provide funds at minimal cost. It helps improve profitability through effective use of funds and strong financial controls like budgeting, ratio analysis, and cost-volume-profit analysis.
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Management involves planning, organizing, directing, and controlling organizational activities and resources to achieve goals. Scientific management theories developed methods for breaking down jobs and setting productivity standards, while classical theories identified key management functions and principles. Later, the human relations movement emphasized that non-financial rewards and good working conditions motivate employees through satisfying informal work groups. Current approaches integrate multiple factors in managing complex organizations.
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Principles of Scientific Management by FW Taylor and Theory of Motivation
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Trade unionism
This document provides an overview of trade unions, including their introduction, features, objectives, functions, reasons for employees to join, roles in a globalized context, structure/types, theories, problems, and remedies to strengthen them. Trade unions are defined as associations of wage earners that work to maintain and improve working conditions. Their key objectives include providing income, job, physical, social, and emotional security as well as fostering industrial democracy.
Training
This very short document does not contain any substantive information to summarize in 3 sentences or less. It consists of the word "ANY" followed by multiple question marks and the word "QUESTIONS" on separate lines, followed by the word "THANK YOU" on another line. However, it does not provide enough context to understand what is being asked or thanked for.
Communication
Formal communication in an organization can be categorized based on organizational structure and direction. There are different types of formal communication like verbal, written, and visual based on whether communication is downward from managers to subordinates, upward from subordinates to managers, or horizontal between peers. Organizational structure also impacts communication - in a divisional structure information flows through department heads to different divisions in the organization.
Environmental pollution
This document defines and discusses various types of environmental pollution. It begins by defining environmental pollution and the key terms of pollutant and pollution. It then describes the main types of pollution as water, air, land, and noise pollution. For each type of pollution, it provides details on causes, sources, and effects. It emphasizes that most water and air pollution is caused by human activities. The document concludes by discussing solutions to pollution and providing examples of evidence of global warming.
Buyer Behaviour
Behavior can be defined as the acts of individuals in making decisions to spend resources on goods and services. Understanding consumer behavior and what motivates customer purchases is an important part of marketing. Businesses research questions like who buys products, how and where they buy, and why, in order to understand what influences customer decisions and better meet their needs. Consumer decisions are affected by social, cultural, personal and psychological factors.
Staffing Final match MBA
The document discusses employment contracts, noting that they legally bind an employee and employer through agreement on terms and conditions of employment after determining a match between job requirements and candidate qualifications. An employment contract specifies details like pay, benefits, work nature, leaves, procedures, and schedules. It can take written, oral, or implied forms and provides advantages like control and protection for companies but also challenges like re-negotiation.
Delegation MBA
Delegation involves stages where tasks are assigned to others. When delegating, make sure to clearly define expectations, provide oversight to ensure tasks are completed correctly, and thank the person for taking on extra responsibilities.
Models of communication for MBA
The document discusses models of communication, which are conceptual models used to explain the human communication process. It describes some key models, including Aristotle's model which focused on the audience's role, and Berlo's SMCR model, which views communication as involving a source, message, channel, and receiver. The document also notes that information theory takes a mechanical approach focused on how clearly information is communicated, regardless of the content.
Posture
Proxemics is the study of how people use physical space and what it reveals about them. People establish an invisible boundary between themselves and others known as their personal feature space. This personal feature space refers to the distance people feel comfortable having between themselves and others.
Self effectiveness
This document discusses self-efficacy, which refers to an individual's belief in their own ability to complete tasks and achieve goals. It is measured by one's sense of competence and control over their own actions. The document outlines both advantages, like increased accomplishment and willingness to try new things, and disadvantages, such as failure leading to lost faith in one's abilities. Self-efficacy affects many life domains and is developed from past successes and failures as well as messages from others.
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Role of FM in an Organization
- 4. Financial mgt involves the acquisition of required finance to the business. Acquiring needed funds play a major part of the financial mgt, which involves possible source of finance at minimum cost
- 7. • Profitability of the business purely depends on the effectiveness and proper utilization of funds by the business. • Financial mgt helps to improve the profitability position of the business with the help of strong financial control devices such as budgetary control, ratio analysis and cost volume profit analysis.