Question

Plans and policies:
the plans and policies of the firm should be properly framed taking into consideration the objectives and resources of the firm. Proper plans and policies help the firm to accomplish its objectives.
the higher authority must analyse the internal environment to foresee the changes and frame appropriate policies well in time.
for example: the personnel policy in respect of promotion should be based on merit rather than seniority.
2. Human resource:
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the survival and success of the firm largely depends on the quality of human resources. The social behaviour of the employees greatly affects the working of the business. The characteristics of human resource like skill, quality, morale, commitment can contribute to the success of the organisation.
if the employees of the organisation are skillful and committed, it can take the firm to a great height. Neglecting the human resource by the management can hamper the success of the organisation.
3. Fin…

Answer 1

Answer:

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