Management Principles
This principle of management advocates for unity of direction, where all employees work towards a common goal. What is Unity of Direction?
Unity of Command
This marketing concept involves understanding the needs and wants of customers. What is Market Research?
Market Research
This financial statement shows the financial position of a business at a particular point in time. What is Balance Sheet?
Balance Sheet
This HR function involves recruiting and selecting employees for a business. What is Recruitment and Selection?
Recruitment and Selection
This type of business structure involves a single owner who has unlimited liability. What is Sole Proprietorship?
Sole Proprietorship
This management principle involves assigning tasks to employees based on their skills and abilities. What is Division of Labour?
Division of Labour
This marketing mix element involves setting the price of a product. What is Pricing?
Pricing
This financial statement shows the income and expenses of a business over a particular period of time. What is Income Statement?
Income Statement
This HR function involves training and developing employees to improve their skills. What is Training and Development?
Training and Development
This type of business structure involves two or more owners who share profits and losses. What is Partnership?
Partnership
This principle of management involves setting clear goals and objectives for the organization. What is Setting Objectives?
Goal Setting
This marketing mix element involves promoting a product through advertising and other means. What is Promotion?
Promotion
This financial ratio measures a company's ability to pay its short-term debts. What is Current Ratio?
Current Ratio
This HR function involves managing employee performance and behavior. What is Performance Management?
Performance Management
This type of business structure involves a separate legal entity with limited liability. What is Company?
Company
This principle of management involves motivating employees to achieve organizational goals. What is Motivation?
Motivation
This marketing mix element involves distributing a product to customers. What is Place?
Distribution
This financial concept involves the process of evaluating investment opportunities. What is Capital Budgeting?
Capital Budgeting
This HR function involves maintaining good employee relations and resolving conflicts. What is Employee Relations?
Employee Relations
This external factor affects a business's operations and performance. What is Economic Environment?
Economic Environment
This principle of management involves monitoring and controlling the performance of employees. What is Control?
Controlling
This marketing mix element involves creating a product that meets customer needs. What is Product?
Product Development
This financial concept involves the process of managing cash flows. What is Cash Flow Management?
Cash Flow Management
This HR function involves ensuring a safe and healthy work environment. What is Occupational Health and Safety?
Occupational Health and Safety
This external factor involves the social and cultural norms of a business's customers. What is Social Environment?
Social Environment