In the early 1900s, Henri Fayol developed a modern management theory that business leaders still use today. Fayol's theory was honed while he worked his way up the ladder to become the director of a ...

Effective management accounting practices can improve decision-making in organizations, which need sound fundamentals but also speed when trying to decide which strategic paths to follow. In short, ...

The differences between Unity of Command and Unity of Direction are as follows: One subordinate should receive orders from and should be responsible to only one superior. Each group of activities ...

“I thought that was OK because it didn’t say I couldn’t do that in the SOP.” Have you ever heard that from one of your crewmembers when you confronted them for making a mistake or bad judgment call?

A version of this article appeared in the Autumn 2016 issue of strategy+business. Most companies have leaders with the strong operational skills needed to maintain the status quo. But they face a ...

CBSE Principles Of Management Class 12 Mind Map: Students can find mind maps for CBSE Class 12 Business Studies Chapter 2, Principles of Management, here. A PDF download link has also been attached at ...