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SS2: COMMERCE - 3RD TERM

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  1. Business Law | Week 1
    5 Topics
    |
    1 Quiz
  2. Agency | Week 2
    7 Topics
    |
    1 Quiz
  3. Sale of Goods | Week 3
    5 Topics
  4. Rights of an Unpaid Seller and Buyer, Hire Purchase | Week 4
    3 Topics
    |
    1 Quiz
  5. Rights and Obligations of Employer and Employee | Week 5
    1 Topic
    |
    1 Quiz
  6. Government Regulation of Business | Week 6
    1 Topic
    |
    1 Quiz
  7. Structure of Business | Week 7
    3 Topics
  8. Organizational Structure Cont'd | Week 8
    2 Topics
  9. Span of Control | Week 9
    4 Topics
    |
    1 Quiz
  10. Introduction to Business Management | Week 10
    4 Topics
  11. Business Organizational Units | Week 11
    1 Topic
    |
    2 Quizzes



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(i) Clarity of Objective: The aims and objectives of an organization, the strategies, and means of achieving them must be clearly stated.

(ii) Span of Control: This is the number of subordinates under the direct supervision of a manager to ensure efficiency and effectiveness. The number of subordinates should be restricted to what is mentally possible for him to control.

(iii) Unity of Command: This principle states that subordinates should receive instruction from their boss only as dual command affects effectiveness.

(iv) Division of Labour: The organization will achieve efficiency if work is divided into the smallest possible units as specialization increases productivity.

(v) Authority and Responsibility: Authority and responsibility should be properly stated and both should match each other, i.e. authority should be commensurate with responsibility for effective supervision.

(vi) Unity of Direction: People engaged in the same kind of activities must have objectives in a single plan. This means that the corporate interest must supersede individual interest.

(vii) Scalar Chain: Henry Fayol said “a hierarchy is necessary for the unity of direction. Formal communication must move up and down the line of authority, i.e. vertical communication whereby there would be proper communication from the top to the bottom and from the bottom to the top.

(viii) Discipline de Corps: In any organization, discipline must be maintained in all departments. A fair disciplinary system with penalties judiciously applied by worthy superiors will definitely strengthen the organization.

(ix) Espirit de Corps: Management should foster the morale of its employees and build up a team spirit. Management should be guided by the popular slogan; “United we stand, divided we fall”.

(x) Remuneration: The remuneration of employees should be fair and satisfactory to both the employer and the employee.

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