2025

Why is forecasting so important for planning?

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Introduction Forecasting is the process of estimating future trends and outcomes based on current and historical data. It plays a crucial role in business planning as it helps managers anticipate changes, allocate resources, and set realistic goals. Whether in finance, marketing, production, or human resources, forecasting is an essential component of effective decision-making and strategic […]

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What are the features of Technological Innovation?

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Introduction Technological innovation refers to the development and implementation of new or improved products, processes, or services through the application of technology. It plays a critical role in shaping industries, enhancing productivity, and improving the quality of life. With rapid advancements in science and engineering, technological innovation has become a key driver of economic growth

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Elucidate the difference between Primary Market and Secondary Market?

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Introduction The capital market is an essential component of the financial system, facilitating the flow of funds between investors and businesses. It consists of two main segments: the primary market and the secondary market. These markets play a crucial role in raising capital, providing liquidity, and ensuring effective allocation of resources. Understanding the distinction between

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Explain Herzberg’s two-factor theory and differentiate it from Maslow’s theory of Need Hierarchy.

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Introduction Motivation is a critical factor in influencing employee behavior and productivity in the workplace. Several psychologists have developed theories to understand what drives people to perform and stay committed to their work. Two of the most prominent theories are Herzberg’s Two-Factor Theory and Maslow’s Hierarchy of Needs. Though both aim to explain motivation, they

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What do you mean by span of control? Discuss factors affecting span of control.

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Introduction In the field of management, the term span of control refers to the number of subordinates that a manager or supervisor can effectively manage and oversee. It is a crucial concept in organizational structure as it directly impacts communication, productivity, and the efficiency of operations. An optimal span of control ensures that the organization

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What are the objectives of a cooperative form of organisation? Explain its merits and limitations.

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Introduction A cooperative form of organisation is a voluntary association of individuals who come together to fulfill their common economic, social, and cultural needs through a jointly-owned and democratically controlled enterprise. Unlike traditional businesses that prioritize profits, cooperatives aim at serving the interests of their members. This form of organisation is popular in sectors like

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What is the main distinction between the economic activity and non-economic activity?

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Introduction Human activities are broadly categorized into economic and non-economic activities. These classifications are essential to understand the motivations behind various actions people undertake daily. While some activities are driven by the desire to earn income, others are based on personal satisfaction, emotions, or moral obligations. Recognizing the distinction between these two helps in better

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Describe the concept of product life cycle. Explain various stages of product life cycle.

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Introduction The product life cycle (PLC) is a concept that describes the stages a product goes through from its introduction in the market to its eventual withdrawal. Understanding the PLC is crucial for businesses as it helps in planning marketing strategies, managing production, and making investment decisions. Each stage of the cycle presents unique challenges

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Explain the nature and significance of vertical, horizontal and diagonal communication channels.

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Introduction Communication is the backbone of any successful organization. It enables the smooth flow of information, helps in decision-making, and facilitates coordination among different departments. Within an organizational structure, communication takes place in various directions: vertical, horizontal, and diagonal. Each type plays a specific role in ensuring that the organization functions effectively. Main Body Vertical

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What do you understand by centralisation and decentralisation? Also, explain the advantages and disadvantages of decentralisation?

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Introduction Centralisation and decentralisation are key concepts in management and organizational structure. These terms describe how decision-making authority is distributed within an organization. Understanding their meaning, differences, and implications helps managers to build efficient and responsive business structures. Main Body Centralisation Centralisation refers to a structure where decision-making authority is concentrated at the top levels

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