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Showing posts from March, 2021

Business Ethics

1. DEFINITION OF BUSINESS ETHICS   1. Business ethics are those principles, policies or philosophies that are concerned with moral judgment and good conduct as they are applicable to a business situation. 2. Business ethics refers to right or wrong behaviour in business decisions. 3. Business ethics involves morally accepted behaviour in business practices. 2. MEANING OF BUSINESS ETHICS Business ethics refer to a code which businessman are expected to follow while dealing with others. The coverage of business ethics is very wide as it deals with norms relating to customers, shareholder, employees, dealers, government and competitors. These are, in fact, the different areas of business ethics. 3. FEATURES Of BUSINESS ETHICS • Business ethics is the code of conduct which businessmen should follow while conducting their normal business activities. • Business ethics has universal application. • It is a relative term. It changes from one business to another. It differs from count

Strategic Management

Decision making is the most important functions of any manager. Strategic decision making is the prominent task of the senior management. Both kinds of decision making are essentially the same. The difference is in the level at which they operate. Strategy decision making is a responsibility of the senior management. This is very important for the management department.                                              DEFINITION OF STRATEGIC MANAGEMEN T : "Strategic management is the formulation and implementation of plans and carrying to the matters which are of vital pervasive or continuing important to the total organisation"                                                                             Strategic management is a stream of decisions and actions which leads to the development of an effective strategy or strategies to help achieve corporate objectives.''                                                             CHARACTERISTICS OF STRATEGIC MANAGE