Concept of Business Business- Meaning, Definitions and Features Meaning The term ‘business’ literally implies ‘busyness’ or the state of being busy. It denotes economic activities primarily pursued with the objective of earning profits. It is concerned with earning money and acquiring wealth. Wealth is acquired through the production and exchange of goods and […]
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Human Resource Audit – Meaning, Definitions, Need and Benefits
Human Resource Audit Meaning, Definitions, Need, Objectives and Benefits HR records and reports provide information regarding the utilisation of human resources in an objective way. However, in most cases, this is not sufficient. A critical evaluation of manpower programmes might be required to find out the areas where improvements are needed and to set things […]
Learning and Learning Theories
Learning and Learning Theories Topics covered: i. Meaning of Learning ii. Definitions of Learning iii. Nature of Learning iv. Characteristics of Learning v. Difference between Learning and Maturation vi. Elements/Components of Learning Process vii. Advantages of Learning viii. Factors affecting Learning ix. Learning Theories Meaning of Learning Learning is defined as permanent change in behavior […]
Functions of Management : Planning, Organizing, Staffing, Directing and Controlling
Functions of Management Planning, Organizing, Staffing, Directing and Controlling Functions of Management All the managers have to perform certain functions in an organization to get the things moving. But there is never complete agreement among experts on what functions should be included in the management process. Some classify these functions into four types, some […]
Concept of Management – Meaning, Definitions, Nature, Features and Importance
Concept of Management Meaning, Definitions, Nature and Importance of Management Concept of Management Meaning Management is the administration of an organization, whether it is a business, a non-profit organization, or a government body. It involves the way the managing body takes decisions, deals with employees, and interacts with the business environment. Scholar from different […]
Trait Theory of Personality – Assumptions, Important Trait Theories, Strengths and Weaknesses
Trait theory Assumptions, Important Trait Theories, Strengths and Weaknesses Trait theory presents a quantitative approach to the study of personality. It visualizes personality as reflection of certain traits of the individual. This theory postulates that an individual’s personality is composed of definite pre-dispositional attributes called traits. A trait may be defined as any distinguishable, relatively […]
Common Difficulties in Decision Making/ Problems in Decision Making
Common difficulties in decision making/Problems in Decision Making Some common difficulties in decision making and implementing them are as follows: i. Incomplete information This is a major problem for every manager. Lack of information leaves a manager adrift in a sea of uncertainty. Not only this, most decisions involve too many complex variables for one […]
Models of Decision Making Behavior- Rationality in Decision Making
Models of Decision Making Behavior Rationality in Decision Making The question of rationality has long engaged the attention of decision theorist. Some of them hold the view that a manager is completely rational in his decisions. Some say that he is completely irrational. Still other say that he exercises limited rationality. These three types of […]
Approaches to choose best alternative in Decision Making
Approaches to choose best alternative in Decision Making After evaluation of various alternatives, the next step is the selection of the best solution. It requires an ability to draw distinction between seen and unseen forces, between tangible and intangible and intangible forces between facts and guesses. The ability to select the best course of action […]
Collective bargaining- Meaning, Definitions, Collective Bargaining in India
Collective bargaining Topics Covered: Meaning of Collective Bargaining Definitions Objectives Nature Features Importance Functions Principles Types Process Collective Bargaining in India Recent Trends and Emerging Issues Pre-requisites of Successful Collective Bargaining Meaning of Collective Bargaining Collective bargaining relates to group bargaining as opposed to individual bargaining about wages and salaries and conditions of work […]