In one of my previous summaries, I talked about Outsourcing and Subcontracting. In this article, I’m going to help you understand what Source Selection means and all it entails. So, if you are still mixing up these concepts (Outsourcing, Subcontracting, and Source Selection) kindly leave a comment below. Source Selection Source selection or Sourcing refers to […]
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Purchasing Ethics or Ethics in Purchasing goes a long way to decide the fate of any organisation. This article explains it raw and goes straight to the point to explain what Ethics in Purchasing means, the ethical practices, the relationship between purchasing department and other departments and Purchasing as the bedrock of an organisation. Please
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Let us talk briefly about the Functions and Qualities of a Purchasing Manager. First of all, I will give you an easy-to-remember definition of who a Purchasing Manager is, the qualities which he or she must or should possess and the functions of a Purchasing Manager or purchasing department. Who Is A Purchasing Manager? A
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Managerial Roles or Roles of a Manager is a “Must-Know” for all intended managers, especially for management students. This article explains these roles and also, the personality traits and attributes of a manager. Please share this article on your social media handle. Together we share knowledge. MANAGERIAL ROLES Mintzberg identified (3) three group of roles
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PUBLIC AND BUSINESS ADMINISTRATION Public administration can be defined as the organization and management of the government, government offices, and public sector companies. Business administration is the performance of management of the operation of a business. It deals with organizing the human resources and the other resources available to the organization in an efficient manner
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In this article, you will learn the definition of friction, laws of friction, types and effects of friction, advantages and disadvantages of friction or frictional force. WHAT IS FRICTION? When a solid slides over another solid surface, there is always resistance in motion. The resistance is called Friction. Friction is, therefore, the resistance that is experienced
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This article is an overview of Bureaucracy. After reading through, you will be able to define Bureaucracy according to different scholars. In this summary, you will also learn the features of Bureaucracy, merits, and demerits of Bureaucracy. Bureaucracy Max Weber a German sociologist define bureaucracy as the administrative system which is organized rationally, impersonally and
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Process Costing Question 1 In the account details recorded for CharllyCARES Nig Ltd. There was an input material transferred from Process A account which is 12,000 units. The cost of labor was N15,000 while the factory overhead cost was N15,000. The final output was 11,000kg with a normal loss of 5%. You are required to
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The functions and responsibilities of a Chief Executive Officer include Planning, Organising, Staffing, Coordinating, Controlling, Directing, Reporting and Budgeting. In this article, you will learn all these and more. The Chief Executive Officer The Chief Executive has fundamental roles in his day-to-day functioning to make the organization grow to an enviable position. He is to
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WHO IS A MANAGER? A manager is a person saddled with the responsibility of planning, organizing, coordinating, and controlling all resources to achieve the stated goals and objectives of an organization. A manager is also a person to whose job is to oversee or supervise one or more employees, divisions, or teams to ensure that
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Henri Fayol (1841-1925), a French Industrialist offered 14 principles of management for the first time in 1916. His fourteen principles of management serve as a guide in helping managers to manage their organizations. The principles propounded by Fayol can be represented by an acronym called “DAD SEE U USSR CIO” 14 PRINCIPLES OF MANAGEMENT Division
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In this articles, you will learn the four traditional functions of management and also the management function propounded by HENRI FAYOL AND LUTHER GULLICK. FUNCTIONS OF MANAGEMENT The four traditional functions of management are planning, organizing, coordination, and controlling. Planning: This is the first traditional function of management. Planning involves looking ahead and mapping out
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