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How to make delegation effective?The delegation can be made effective by:Image credits © Gaurav Akrani.Unity of Command,Scalar Chain,Principle of authority and responsibility,Principle of delegation by results expected,Principle of absoluteness of responsibility,Principle of functional department,Proper motivation,Proper training,Active control system,Knowledge of what Read more…


1. Delegation helps Superior focus on Challenging JobsUnder delegation, a superior (boss) delegates his less important duties, routine tasks and monotonous work to his subordinate (junior). He can then use some of his available free time to focus on other Read more…


Extension and Contraction of DemandAssuming other factors (or determinants) remain constant (don’t change), the change seen in the demand due to a change in the price is called Extension and Contraction of Demand.The concept of extension and contraction of demand Read more…


Sources of working capitalFollowing are various sources of working capital or short-term finance:Image credits © Prof. Mudit Katyani.Public Deposits is a significant source of working capital. It is an unsecured loan. It is taken by the company from the depositor Read more…


Factors affecting working capital requirements14 factors affecting working capital requirements of a business:Image credits © Prof. Mudit Katyani.Nature of business,Size of business,Time and complexities of manufacturing process,Manufacturing cost,Growth and Expansion,Terms of purchase and sales,Conditions of supply,Market conditions,Business cycle,Operating cycle,Rate of Read more…


Importance of working capitalEvery company needs working capital to meet its short-term expenses. It keeps the business moving. Without it, the business will stop, and the company will become sick.Explained below is the importance of working capital.Image credits © Prof. Read more…


Concepts of MarketingThe six concepts of marketing are depicted and listed below.Image credits © Prof. Mudit Katyani.These include:The concept of Exchange,The concept of Production,The concept of Product,The concept of Sales,The concept of Marketing, andThe concept of Societal.Now let’s discuss the Read more…


Difference between listening and hearingListening is often confused with hearing. Many people use these two words incorrectly in their speeches and writings without giving a second thought to clarify what they truly mean. I hope my comprehensive endeavor in this Read more…


Meaning of human relationsThe meaning of human relations is depicted and explained below:Image credits © Gaurav Akrani.Layman’s language: A human relation is one person’s relationship or connection with another person. It means how an individual man or woman is related Read more…


Essentials of Human RelationsWe, human beings, the most intelligent social specie on planet Earth, are mutually interdependent for our sustenance and flourishing. Since many centuries, we have successfully managed to explore, adapt and thrive together in different places in remarkable Read more…