A bilateral contract is a type of legally binding agreement between two parties. The contract can be either oral or written. It differs from a…
Management Category
Learn the principles and practices of effective management, including leadership, strategy, and decision-making.
Prioritization: Meaning, Planning, Importance, Cons, and Examples
Prioritization is defined as activities where you list the items you want to do on their level of value. It means that you can now…
Situational Leadership: Meaning, Styles, Characteristics, and Advantages
Situational leadership is defined as a model or theory where the leader puts its onus on empowering the followers to get the job done. The…
Difference Between Management and Administration
It is common to get confused between the term administration and management as both terms are referred to controlling or managing an organization. But there…
What Causes Change in an Organization? 10 Factors Explored
Change is constant, and change is inevitable. Change happens in every organization, and every organization is required to adapt to that change to maintain its…
Matrix Organization: Structure, Types, Examples, and Advantages
Matrix organization is defined as a complex structure implemented by business organizations. In most cases, the business entity follows a hierarchy system but here, the…
Departmentalization: Meaning, Objectives, Types, Examples & Advantages
Departmentalization is defined as a process that groups activities into different departments. These departments are created so that tasks can be performed by specialization within…
Decision Matrix: Meaning, Examples, and How to use a Decision Matrix?
A decision matrix is defined in simple terms as a table that helps to evaluate a set of criteria against a set of options. It…
Matrix Management – Definition, Challenges and Types
Matrix management is defined as an organizational structure where some of the employees report to one or more than one leader at the same time….
Critical Path Method: Meaning, Steps, Benefits and Disadvantages
The critical path method is also referred to as CPM and is considered a network analysis algorithm used about controlling and planning of routine projects….
Cross-Functional Team: Meaning, Limitations, Factors, and Advantages
Cross-Functional team is defined as a workgroup that includes employees from different levels of an organization having different skills and knowledge collaborating for completing a…
Charismatic Leader: Meaning, Best Practices, Characteristic & Advantages
The leadership position in any organization is the center of power. All the power, authority, and resources gravitate to this position. The leaders are those…
Tacit Knowledge: Meaning, Characteristics, Examples, and Advantages
Tacit knowledge is defined as the knowledge that is very difficult to impart to another individual either by telling him or writing it down. Several…
Multidisciplinary Team: Meaning, Tips, Characteristics, and Advantages
The multidisciplinary team is defined as a group comprised of members that have complementary skills, qualifications, and experience. Their contribution is towards particular objectives of…
Prioritization Matrix: Features, Benefits and How to use a Prioritizing Matrix
A prioritization matrix is an analysis tool used for business analysis. It is also a software application for time management so that a person can…
Types of Listening: What it is, and 18 Different Type of Listening
Listening can be defined as a process of receiving information in the form of sounds or action and reacting or responding to that information through…
Pareto Analysis – Definition, Principle, Applications, Chart and Examples
Definition Pareto analysis is defined as a tool that is used for decision making in which multiple courses of action are competing to gain attention….
Importance of Management For Every Business Organisation
Management has an important role to play in an organization, and it plays an important role in the success of the organization. In this article,…
Asynchronous Communication: Examples & Benefits
Asynchronous communication refers to a type of communication where one person shares information and then waits for a delayed response from the recipients. To put…
Hierarchical Organization : Definition, Types of Structure, Advantages, & Disadvantages
Hierarchical organization is defined as a pyramid-like structure where one individual is in charge of the company with one or more subordinates subsequently under each…
Path-Goal Theory: Meaning, Style, Consideration, and Characteristics
The path-goal theory is defined as a leadership theory that specifies the behavior and style of a leader best suited to fit the work environment…
Management Control: Meaning, Types, & Features of Management Control
Management control is defined as a process that helps to achieve organizational goals. The teams or an individual within a business entity is forced to…
Management Control System: Objectives, Functions and Advantages
The management control system is also referred to as MCS and is defined as an informal as well as a formal framework that an organization…
What is a Learning Organization? Peter Senge’s 5 Disciplines of Learning
Learning organization can be defined as an organization which proactively makes efforts both in the form of investment and encouragement to educate their employees so…
The 13 Most Important Features of Management you should know
Management is essential, as well as an integral part of every organization. The main purpose of management to guide the people working in the organization…
What is the Difference between Authority and Responsibility?
Understanding the difference between authority and responsibility is crucial in the world of management and leadership. These two concepts, though often intertwined, hold distinct meanings…
Delegation of Authority: Meaning, Principles, and Examples
When a manager in an organization divides his work among his subordinates to accomplish a big task, he divides the task into smaller tasks and…
Personality Traits – Meaning and Examples
Personality traits are characteristics which separate an individual from the others. Personality traits of a person reflect the distinctive characters such as emotions, feeling, behavior,…
Reinforcement Theory of Motivation
Definition The Reinforcement theory is considered as motivational theory and is defined as the process of molding for shaping the behavior of an employee by…
Management By Exception: Accountability, Meaning, Advantages, & Disadvantages
The role of a manager is significant in an organization. He is responsible for the smooth flow of work in the organization. This requires his…
Nominal Group Technique: Meaning, Key differences and 5 Steps
Nominal Group Technique can be defined as a technique to find the solution for the existing problem. Nominal group technique is slightly different from brainstorming…
Theory X and theory Y of Management: Meaning, Differences & Application
Theory X and theory y are considered as theories of human motivation at the workplace. This theory was developed by Douglas McGregor in 1950s at…
Barriers To Delegation: Top 10 Barriers to Delegation at a workplace
Amidst our rigorous and tight work schedules, we all need some sort of a breather and space by delegating our work to our peers or…
Barriers to Entrepreneurship: Top 12 Barriers to Entrepreneurship
In today’s world, each one us dreams of being an entrepreneur and starting up something that we are passionate about. It’s all about making a…
Barriers to Effective Listening: Top 5 Barriers to Effective Listening
There are various skill sets required at a workplace to conduct and complete all the tasks and responsibilities efficiently and effectively. And one of them…
10 Common Barriers To Critical Thinking
Critical Thinking is not only required by an individual in the streams of academics and the business world but also in life as well. It…
Diffusion of Responsibility: Definition, Characteristics & Factors
Diffusion of responsibility is defined as a psychological phenomenon in a social setting. Sometimes when an individual is in a group, he will hesitate to…
Middle Management: Role, Importance, Examples, and Skills
Middle management is defined as the management level that reports to higher managers and manages at least one – two subordinate level of managers. Its…
Functional Organization: Definition, Examples, Features, and Advantages
The functional organization is designed on the typical hierarchy system where position and job requirement of every employee is defined. The organization is also divided…
Internal Control: Meaning, Types, Components and objectives
Internal control can be defined as the process of accounting, auditing, reviewing the system, methods, and accounts of an organization in order to make sure…
