Engineering industry Over the past few years, the Indian engineering industry has grown significantly thanks to increased investments in infrastructure and industrial production. The engineering sector is crucial to India’s economy since it is intimately related to the industrial and infrastructure industries. India has made considerable progress in developing its engineering sector as it strives … Read more
The fundamental forms of corporate ownership are as follows: 1. Sole Proprietorship Having just one owner makes a company a sole proprietorship. The least expensive form of ownership is also simple to set up. The owner is subject to unrestricted responsibility, which means that if the business can’t pay its debts, the owner’s assets could … Read more
There are three major types of businesses: 1. Service Business A service-type firm offers intangible (i.e., non-physical) items. Service-type businesses provide guidance, professional skills, knowledge, and other items of a similar nature. Examples of service businesses are Education, Tourism, Beauty Salons, Banks, Consultancy firms, accounting firms, and law firms. 2. Merchandising Business This kind of … Read more
1. Who is the father of the Human Relations Approach and what does he assume? Ans: Elton Mayo is the father of the Human Relations Approach. The advocates of this school stressed the special importance of a human sense of value to understand manners and customs individually and in groups of organizational workers. The assumptions … Read more
Ans: Elton Mayo is the father of the Human Relations Approach. The advocates of this school stressed the special importance of a human sense of value to understand manners and customs individually and in groups of organizational workers. The assumptions made are, (a) social factors influence any organization; (b) the employees employed in the organization … Read more
Ans: The following are the functions of management — (1) Planning, (2) Organizing, (3) Staffing, (4) Commanding, (5) Directing, (6) Motivating, (7) Controlling, (8) Coordinating. Ans: Administration is the decision of fundamental principles and objectives after staying at the organisation’s apex. According to Schulze, the administration is the power of the institution which decides principles … Read more
