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Partnership Act 1932 Law of partnership is governed by Partnership Act, 1932 Partnership is the relation between persons who have agreed to share the profits of a business carried on by all or any of them acting for all.  Essentials of Partnership.

Organizational behavior studies and research includes behavioral views of management, human resource, leadership, team building, and how to resolve conflict in the organization and between individuals. Following four researchers are in favor of the organizational approach Robert Owen, Hugo Munsterberg, Mary Parker Follett and Chester Branard. 

Henri Fayol (1841-1925)   was a successful French industrialist, he developed theories about management. His thought could be taught to those individuals  who have responsible for administrative responsibilities. The major managerial functions, according to Fayol, were planning, organizing, commanding, coordinating, and controlling, this also called Fayol's function approach. The functions have been tly modified several times but these 14 principles are being used today. 

What is Firm Resources? Firm resources include all assets, capabilities, organizational processes, firm attributes, information: knowledge etc. controlled by a firm that enable the firm to conceive of and implement strategies that improve its efficiency and effectiveness. firm resources can be classified into three categories Physical Resources Hu man Resources Organizational Resources Physical capital resources include the physical technology used in a firm, a firm's plant and equipment, its geographic location, and its access to raw materials. Human capital resources include the training, experience, judgment, intelligence, relationships, and insight of individual managers and workers in a firm. Organizational capital resources include a firm's formal reporting structure, its formal and informal planning, controlling, and coordinating systems, as well as informal relations among groups within a firm and between a firm and those in its environment. Althou...

Management Skills, Knowledge and Performance Management Knowledge : Managers need a knowledge base. This knowledge base provides a context for the manager’s activities, include information about an industry and its technology, company policies / procedures, and practices and actions, company goals and plans, company culture, the personalities of organization members, and important suppliers and customers. Management Skills : Managers need three types of key skills to perform the duties and activities in the organization. These skills are:

What Functions are performed by the Manager in the Organization? It is the set of ongoing decisions and work activities in which managers engage as they plan, organize, lead, and control the work activities of others in the organization. In other sense, these four functions by adding one additional functions are combined and named as POLCA which stands for:

Managers play verities of role in the organization, Now, we see what is a role? A role is an organized set of behaviors and action  that is associated with a particular position held in the organization . Dr. Henry Mintzberg, a prominent management researcher, says that what managers do can best be described by looking at the roles they play at work. The term management role refers to specific categories of managerial behavior. There are three types of roles which a manager usually does in any organization.