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What Is Fayol 's Principles Or Taylor 's Scientific Management Techniques Essay

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Whether Fayol’s Principles or Taylor’s Scientific Management techniques, such concepts influence all aspects of business and form the footing for multi-faceted activities that business and management comprise of.

Ever since I was a child, I have had strong familial connections with commerce. My grandfather worked at a senior level in the Reserve Bank of India (RBI) for over 20 years, and my father, a graduate of SRCC AND IIM Bangalore is currently the chief financial officer for a Multinational Corporation called Polyplex. My mother has her own trousseau and packaging brand, while my aunt has a line of coaching centres in Toronto. All these fuelled my constant enthusiasm and drive for the subject and it is no surprise now that I too have chosen this as my future vocation. After moving back from Thailand, I have regularly invested in putting up stalls at the annual Diwali carnivals in my city. It was there that I first put my foot into the world of business. Over time, I grasped numerous fundamental and significant concepts of business that would not only benefit me academically but also in the long run. I was able to identify my target audience as adolescents and children ranging between the ages of 3 to 17 years. On the basis of this, I applied the product, place, promotion and price concepts of marketing to my venture. I studied the customers’ needs and wants, developed a market offering, and created customer value. My pricing policy was kept to a minimum of Rs. 30

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