MBO Management By Objectives (MBO) is a comprehensive managerial system that integrates many key managerial activities in a systematic manner and is consciously directed towards the effective and efficient achievement of organizational and individual objectives. It is a philosophy of Read more
These are organizations that have come about as a result of coordination problems in highly complex industries such as aircraft manufacture, where functional and product types of structure have not been able to meet organizational demands for a variety of Read more
A comparison between TQM and re-engineering as change processes. The meaning of TQM Total Quality Management (TQM) is the name given to programmes that seek to ensure that goods are produced and services are supplied of the highest quality. TQM Read more
b) The meaning of the term ‘Objective.’ An objective is the target that must be reached if the organization is to achieve its goals. Objectives are the translations of the mission into specific concrete terms against which results can be Read more
The Kenyan corporate sector has in the recent years experienced economic difficulties. Some companies actually closed down while others resorted to strategic survival techniques such as mergers, downsizing, restructuring etc. The small business enterprises now thrive because of lack of Read more
A holding company is simply a vehicle for the ownership of a range of other companies. Company 1 and 2 are wholly owned subsidiaries or the holding company owns a majority of shares. Companies 3 and 4 are part of Read more
Max Weber was a German Sociologist who reacted to the abuses of power by people in management. To reduce the arbitrary use of power, he recommended an organizational system that would be run by rules and regulation commonly known as Read more
a) Definition: A mission statement identifies the scope of a firm’s operations in product and market terms. It answers the question “what is our business?” A mission is the organization’s ‘raison d’etre’, i.e. its reason to be or reason for Read more
The analysis of industry norms in comparison with the relative performance of organizations in the same industry: The performance of one firm is compared to some selected firms in the same industry at the same point in time. This kind Read more
A vital element in every marketing strategy is the marketing mix. The mix may be defined as ‘the particular group of variables offered to the market at a particular point in time.’ These variables are principally: 1. Product 2. Price Read more