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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 person...

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 views on decision-making...

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...

The Employees’ Provident Fund and Miscellaneous Provisions Act, 1952   Introduction It was in 1952 that the Provident Funds Act was enacted to provide for the institution of compulsory provident fund for the employees working in factories and other establishments. The Act was amended in 1971 to provide for family pension and life insurance benefits also and...

The Payment of Gratuity Act, 1972 UGC NET Paper 2 Code 55 Study Material Labour Laws Study Material Introduction “Gratuity” is a retiral benefit which is paid by an employer to an employee in consideration of his past services at the time of his retirement or after his death. In the case of employment coming to an end due to retirement or superannuation, it enables...