Sunday, June 30, 2019

Use Of ACRONYM and MNEMONICS for learning Business Studies Subject

Dear Students
You all know that there is lot of learning required in this subject . Although explanations can be in your own words but you need to remember the main headings .
Try the use Acronyms and Mnemonics for making learning easy .
Use of Acronyms and Mnemonics can help you to remember things better. It also makes it easier for you to recall that information later. They are also the most effective for forming strong long term memories.
But these techniques should be used with caution. Do not make use of them for every thing. Use these only where you feel problem in learning or there are lot of points and sub –points to remember.
An acronym is a pronounceable word formed by the first letters of a phrase.
Acronyms can be used to remember a list of words. When you were little, you were probably taught that VIBGYOR will help you remember rainbow colors in order which are : Violet Indigo Blue Green Yellow Orange Red
·        An acronym is a word that is formed from the first letter of each fact to be remembered.
·        It can be a real word or a nonsense word you are able to pronounce.
·        It can be used to remember things in order or otherwise

Examples of Acronym in Business Studies
·        Dimensions of Business Environment : ACRONYM :SLEPT
S – Social
T – Technological
E – Economic
P – Political
L – Legal
·        Process of Organising    ACRONYM: IDEA
1.          Identification and division of work
2.          Departmentisation
3.          Assigning of duties
4.          Establishing reporting relationships

Mnemonic is a technique where a pattern of letters, ideas, or associations, etc. assists in remembering something.
You probably still remember some of the mnemonics you learnt as a young child.
To learn order of the planets in the Solar system Mercury, Venus, Earth, Mars, Jupiter, Saturn, Uranus, Neptune, Pluto.
MNEMONIC :MVery Elegent Mother Just Served UNine Pizzas

Examples of Mnemonics in Business Studies
Taylor’s  techniques of Scientific Management
MNEMONIC : MSweet Simple Mother and Father Taught Taylor’s Different Functions
1.       Motion Study
2.       Standardization and Simplification
3.       Method Study
4.       Fatigue Study
5.       Time Study
6.       Differential Piece Wage System
7.       Functional foreman-ship

You can use combination of ACRONYM and MNEMONIC too.

For remembering the Fayol’s 14 principles of management


1 Division of work
2. Authority and responsibility
4. Unity of command
5. Centralisation and decentralisation
6. Unity of direction
7. Subordination of individual interest to general interest
8. Scalar chain
9. Remuneration of employees
10. Order
11. Initiative
 12. Stability of tenure of personnel
 13. Equity
 14. Espirit de corps   

Check few more examples below :

Types of communication barriers (Chapter -7 Directing) :

Nature of Management (Chapter -1 Nature and significance of management)

Check link below for some more examples :

Do Share your ideas and creations

Also check the document below which is dynamic as we will be adding more and more ACRONYM and MNEMONIC as an when shared by our  students and colleagues.

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