Essential Features or Characteristics Of Partnership

The essential characteristics of partnership are given below :

POSTER

The purpose of designing a poster is either to create social awareness about issues related to current problems and needs, or to advertise or even to extend invitations and write notices for general public.

Main features of POSTER :-

Relation between Efficiency and Effectiveness

Effectiveness and efficiency are equally important as being effective means completing task on time but it is not enough to just complete the task on time but it must be don correctly without any wastage of resources. Effectiveness & efficiency are the two sides of a same coin, one without other is of no use.

What is economics all about?

What is economics all about?

Economics is all about making choices in the presence of scarcity. It studies human behavior as a relationship between means (resources) and ends (human wants). Economics aims to ensure that the resources are used in the best possible manner.

Scarcity

What is SCARCITY ?

"Scarcity refers to the limitation of supply in relation to demand for a commodity."

It refers to the situation, when wants exceed the available resources. As a result, goods are not readily available and society does not have enough resources to satisfy all the wants of its people. Scarcity is universal, i.e. every individual, organization and economy faces scarcity of resources.

What is Economy?

What is Economy?

An economy is a system which provides people, the means to work and earn a living.

It is an organisation that provides living to the people. In this task, it makes use of the available resources to produce those goods and services that people want. 

Such units enable people to earn an income and, at the same time, help to produce goods and services which people require for us.

Efficiency vs Effectiveness

Difference between efficiency and effectiveness.

1. Efficiency refers to completion of task correctly with minimum cause and wastage of resources whereas effectiveness refers to completion of task on time.

2. Efficiency is concerned with utilizing minimum resources and getting maximumbenefits whereas effectivenes is concerned with the achievement of end result.

3. Producing target with minimum cost is efficiency whereas effectiveness is producing target on time.

Define Management.

Q.     What is Management ?

Ans-  In the words of Mary Parker Follet, 'Management is the art of getting things done through others.'


According to modern concept management can be defined as the process of getting things done with   the aim of achieving goals efficiently and effectively.