BUSINESS ADMINISTRATION
PRINCIPLES AND PRACTICE OF MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Planning
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Organizing
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Leading
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Controlling
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Detailed explanation-1: -A clear example is moving towards digital documentation and working to make your organisation paperless. Lowering the cost of paper, ink, printing, postage, and transportation can reduce costs significantly. Digital transformation of manual, paper processes can also accelerate the speed of doing business.
Detailed explanation-2: -Technology Enhances Efficiency Unlike humans, machines can work for hours on end without fatigue. High-tech gadgets also execute tasks faster than humans do. This not only reduces human capital but also increases productivity. The use of software applications to run business makes management tasks easier.
Detailed explanation-3: -The increasing availability of digital communication tools is enabling more and more employees to work remotely, for example from home. This can help to reduce costs for businesses, as they can operate from smaller offices.