(i) Innovations refers to the preparation of personnel and organization to face the changes made in the business world.
(ii) 'Continuous changes are being made in the business' Consumers are satisfied through innovation.
(iii) Innovation includes developing new material, new products, new techniques in production, new package, new design of a product and cost

(i) Co-ordination is the synchronization (or unification or integration) of the actions of all individuals, working in the enterprise in differerrt cupacities, So as to lead to the most successful attainment of the common objectives.
(ii) For example: You can co-ordinate in your classroom by maintaining silence and by sitting your place. Co-operating with the teacher to deliver her lecture and listen to her them.

(i) This is the issue of commands followed by responsibility for their consequences.
(ii) Authority means the right of a superior to give the order to his subordinates; responsibility means obligation for performance.

(i) According to this principle the whole work is divided into small tasks.
(ii) The specialization of the workforce according to the skills of a person, creating specific personal and professional development within the labour force and therefore increasing productivity; leads to specialization which increases the efficiency of labour.

(a) Equity:
(i) Employees must be treated kindly and justice must be enacted to ensure a just workplace.
(ii) Managers should be fair and impartial when dealing with employees, giving equal attention towards all employees.
(b) Initiative:
(i) Using the initiative of employees can add strength and new ideas to an organization.
(ii) Initiative on the part of employees is a source of strength for organization because it provides new and better ideas.
(iii) Employees are likely to take greater interest in the functioning of the organization.

(i) Functional school sees management as a process of planning, organising, directing and controlling.
(ii) Behavioural school is not interested in the process only but rather in the way the process affects the organisation, i.e., with and through personnel or human resouse
(iii) Quantitative school wants to improve the quality of decision making, i.e., fulfilling the stated objectives of the enterprise.
(iv) Systems approach concentrates on the entire organisation, i.e., inputs - process - outputs,
(v) Contingency approach emphasises dynamic nature of management process in an everchanging business environment.

The two terms 'management' and 'administration' are used inter changeably.
(i) While management is more executive in nature. But the concept of administration denotes the art of decision - making.
(ii) Management is all about plans, actions, but the administration is concerned with framing policies and setting objectives.
(iii) The manager looks after the management of the organisation, whereas administration is responsible for the administration of the organisation.

(i) The substance of management should be identified as a process
(ii) A process is something that what a person does in the context of his individual duties and responsibilities assigned by his or her immediate higher authority.
(iii) A process also implies on going and unceasing cyclical operations.
(iv) In management, we have planning - action - control cycle.
(v) A process indicates the dynamic nature of management.
(iv) It also implies that change is a constant reality of organisational life and management is the management of change.