Definition: A span of control, also known as a span of management, is a resource management term and refers to the number of employees who report to a manager. A span of control means a manageable number of employees that a manager can control. The bigger the staff, the bigger the span of control. In …
The strategic planning process involves creating precise business strategies, acting on them, and assessing the outcomes concerning an organization’s long-term objectives. Strategic planning rose to prominence in the 1960s when there was a resurgence of interest in strategic business planning, which is still useful. Importance of the Strategic Planning Process This process helps a business …
There are two types of products – consumer products and industrial products. Consumer products are bought by individuals for their own use, while industrial products are bought by businesses for their operations. The difference between the two types of products is significant, and it impacts how they are marketed. This post will discuss the differences …
Ernest Dale, in his book “Theory and Practice of Management,” has said that: “The modern concept of managerial control envisages a system that not only provides a historical record of what has happened to the business as a whole but also pinpoints the reasons why it has happened and provides data that enable the chief …