Some of the most important features of management are: 1. Group Activity 2. Goal Oriented Process 3. Continuous Process 4. Dynamic Process 5. Integrating Force 6. Intangible Force 7. Universal 8. Human Focused Activity 9. Unrelated to Proprietorship 10. Involves Decision-Making 11. Strongly Integrates Organisational Resources 12. Multi-Disciplinary 13. Situational 14. Social Activity 15. General Process 16. Separate Existence 17. [...]
Pricing is one of the most important elements of the marketing mix, as it is the only element of the marketing mix that generates a turnover for the organisation. Pricing involves determination of the optimum price for a product by the marketer. "Price is the amount of money charged for a product or service or the sum of the values [...]
How to Calculate Labour Cost: Per Hour, Per Unit, Techniques and Formula! Techniques of controlling labour cost can be effectively used by coordinating the activities of various departments concerned with the labour, namely: (A) Personnel department (B) Engineering and work study department (C) Time keeping department (D) Pay roll department, and (E) Cost accounting department. The functions of these departments [...]