Economics plays a crucial role in our daily life. Each decision like make purchase of something represents the economic implications. Importance of economics in daily life can be analyzed by seeing its implications among its different branches. The important branches of economics are Micro, Macro, Managerial, Monetary and International economics etc. Importance of … [Read more...] about Importance of Economics in Daily Life
Business
The Primary 4 Functions of Management – Planning, Organizing
Management sciences have proven its importance in every part of life no matter who you are, a worker at some organization or owner of the organization you must have a good knowledge about management in order to be successful. Because whoever you are managing is always a part of your job. It is also one of the main Characteristic of Entrepreneurs. Management is known as a … [Read more...] about The Primary 4 Functions of Management – Planning, Organizing
What does Industrial Psychologist do? The Job of Psychologist
Psychology is that branch of science which helps to understand the workings of human mind and consciousness. After years of research and understanding the importance of psychology in businesses. The newly developed branch is Industrial psychology is out of many fields. Industrial Psychologist do make use of theories in the workplace, on workers and works in relation to the … [Read more...] about What does Industrial Psychologist do? The Job of Psychologist
Advantages and Disadvantages of Paper Money [ Updated with Types ]
Paper Money defined as currency note used as medium of exchange and issued by State Government. People consider currency notes is a kind of money which performs all the function as good medium of exchange. Paper currency is convertible in the sense that it may convert in to gold and precious metals while it may inconvertible because it is not exchangeable in to coins. Now a … [Read more...] about Advantages and Disadvantages of Paper Money [ Updated with Types ]
Causes of Business Cycle – The Crucial Indicators Affecting Business
Nature is diversified, so the humans too. Humans tried to be economically prosperous by using different art and tricks of business. In ancient times they use to adopt hunting, fishing and by farming and crops to survive economically. They often use barter system in this regard. When there are prosperous times in economy & business so does depression/recession exit also, … [Read more...] about Causes of Business Cycle – The Crucial Indicators Affecting Business
Personnel Management [ Functions, Importance, Objectives & Definitions ]
Personnel Management focuses on the administrative tasks of the organization along with the employee’s welfare and labor relations management. It is often considered as a sub-category of Human Resource Management. Few consider it to be same like HRM but it is different from it. Personnel Management Definition by Different Authors Edwin Flippo Personnel Management is … [Read more...] about Personnel Management [ Functions, Importance, Objectives & Definitions ]
5 Phases of Business Cycle – 2 Types of Cycle
Business are fundamental elements of the economy globally. They play their part to strengthen the economy of the state. Business can be small to large size, an example of a business can be a home industry to a farmhouse, a clothing brand, automobiles company, fan industry or a hardware industry. All kind of businesses faces ups and downs during their life course. They may face … [Read more...] about 5 Phases of Business Cycle – 2 Types of Cycle
Importance of Psychology in Human Resources Management – HRM
Psychology is the study of mind and behaviour and if we talk about the role of psychology in human resources then it is the branch of psychology studying behaviour and mental processes of the person in the course of management. Organizational psychologists play a vital role in the human resources management functions of different companies and organizations. A study was … [Read more...] about Importance of Psychology in Human Resources Management – HRM