Principle of management - Equity The employees should be treated with kindness and Justice with devotion and loyalty are expected of them.

A financial market is a market in which people trade financial securities and derivatives at low transaction costs. Some of the securities include stocks and bonds, raw materials and precious metals, which are known in the financial markets as commodities.

Intregrates group effort

Management cannot say to be a science:

1. The existence of systematized body of knowledge: Science is systematized body of knowledge in a sense that it is based on cause and effect relationship which is developed through years of research and experimentation. This feature of science is present in management, as it has its own theory and principles that have developed over a period of time.
2. Principles based on experimentation: Scientific principles are first developed through observation and then tested by repeated experimentation. This feature is not cent percent applicable since the management deals with human beings whose behaviour cannot be predicted on the basis of absolute laws and experimentation.
3. Universal validity of principles: Scientific principles have universal validity and application. This feature is not cent percent applicable, since their application and use has to be modified according to given situations.

Conclusion: From above, we may conclude that management does not satisfy all the features of a pure science which makes it being called an inexact science or soft science.

Functional structure is formed on the basis of functions to be performed like Production, Finance, Personnel, and Marketing whereas divisional structure is formed on the basis of various product lines, which is further supported by functions. Divisional Structure is broader in scope than the Functional Structure.

The key difference between functional and divisional structure is that functional structure is an organizational structure in which the organization is divided into smaller groups based on specialized functional areas such as production, marketing and sales whereas divisional structure is a type of organizational structure where operations are grouped based on divisions or separate product categories.

Management does not meet the exact criteria of a profession. On comparing the features of the profession with the features of management it is found that there are so many features of a profession which are not present in management like 

• Restricted entry: The entry to a profession is restricted in an examination or a degree like a person can practice as a lawyer if he has a degree of LLB but in management, no legal restriction is there to appoint a manager as per educational qualification.
• Existence of ethical code: For every profession, there are some rules and obligation which are binding all the professional of that profession but in management, there is no ethical code which abides the managers.

So we can say that presently management cannot be recognized as a full-fledged profession. Management is on the path of becoming a profession. In future, it may be considered as a profession.

Profession means an occupation for which specialized knowledge and skills are required and entry is restricted. The main features of profession are as follows: (1) Well defined body of knowledge: All the professions are based on well defined body of Knowledge. (2) Restricted Entry: The entry in every profession is restricted through examination or some minimum educational qualifications. (3) Professional Associations: All professions are affiliated to a professional association which regulates entry and frames code of conduct relating to the profession. (4) Ethical code of conduct: All professions are bound by a code of conduct which guides the behavior of it's members. (5) Service Motive: The main aim of a profession is to serve it's clients. Management does not fulfill all the features of a profession and thus it is not a full-fledged profession like doctor, lawyer, etc., but very soon it will be recognized as full-fledged profession.

Sometimes

Planning contributes to Objectives

• It reduces cost of fund.
• It ensures proper use of fund.
• It helps business firm to take financial decisions.
• It prepares guideline for earning maximum profits with minimum cost.

Because they continue to change quickly.

The four specific forces of business environment are as follows

1. Customers
2. Suppliers
3. Competitors
4. Investors

The process by which a manager synchronises the activities of different departments is known as coordination. The process of coordinating the activities of an organisation begins at the planning stage itself. Eg- Top management plans for the entire organisation. It is through the process of coordination that a manager ensures the orderly management of individual and group efforts to ensure unity of action in the realisation of common objectives.

The definition of coordination is being able to move and use your body effectively and multiple people or things working well together. An example of coordination is when a gymnast walks on a tightrope without falling. An example of coordination is when two people work together to plan or coordinate a party. noun.

Fayol introduced the concept of Gang Plank in the principle of 'Scalar Chain' to overcome the problem of delay in taking decisions for urgent matters.

Please ask question with complete information.

All of these

It is correct to say that controlling is like thermostat in refrigerators. This is because controlling is an important and an indispensable function of management. It aims at managing the managerial actions by setting the standards and identifying the deviations of actual performance as against the set standards. It also ensures optimum utilisation of resources while taking corrective measures for the deviations. This topic has been covered in our NCERT solutions. You can refer to the same following the below mentioned path.

He was at the lower level of management. He is responsible to follow the instructions of the middle level managers and supervise and get the job done by the workers. He is in the direct contact with the workers.

Lower level management

Supervisory level

(b)

The nature of business is a phrase referring to the overall purpose and existence of a company within a market sector or industry. When we say nature of a business, we are alluding to: What type of products and services are sold by a company. The industry in which the company operations.