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Financial management is the business function concerned with profitability, expenses, cash and credit. These are often grouped together under the rubric of maximizing the value of the firm for stockholders.
Larger organizations generally have three hierarchical levels of managers, [1] in a pyramid structure: . Senior management roles include the board of directors and a chief executive officer (CEO) or a president of an organization.
A business idea is a concept envisioned by individuals or teams that can be monetized through the delivery of products or services. Serving as the foundation for entrepreneurial ventures, a robust business idea is essential for the development and success of new enterprises.
Executive managers hold executive powers delegated to them with and by authority of a board of directors and/or the shareholders.Generally, higher levels of responsibility exist, such as a board of directors and those who own the company (shareholders), but they focus on managing the senior or executive management instead of on the day-to-day activities of the business.
Asset management is a systematic approach to the governance and realization of all value for which a group or entity is responsible. It may apply both to tangible assets (physical objects such as complex process or manufacturing plants, infrastructure, buildings or equipment) and to intangible assets (such as intellectual property, goodwill or financial assets).
Management audit is a systematic examination of decisions and actions of the management to analyse the performance. Management audit involves the review of managerial aspects like organizational objective, policies, procedures, structure, control and system in order to check the efficiency or performance of the management over the activities of the company.
Quality management ensures that an organization, product or service consistently functions well. It has four main components: quality planning, quality assurance, quality control, and quality improvement. [1]
The Principles of Scientific Management (1911) is a monograph published by Frederick Winslow Taylor where he laid out his views on principles of scientific management, or industrial era organization and decision theory.