Staffing Policy

By | May 17, 2020

Staffing policy is concerned with the selection of employees for particular jobs. The challenge is whether to fill the vacant positions with home (local) individuals or expatriate (imported) labour. Management can select any of the following staffing policies: Ethnocentric Approach: Here, the home country nationals fill the top-level or key level management positions in the host country. It… Read More »

Work-life Balance

By | May 15, 2020

Work-life Balance implies securing a balance between an individual’s work and personal life. The problem of work-life balance is observed when there is a case of dual-career couples. A dual-career couple is the one where both individuals working have occupational responsibilities. These results in depression, stress and anxiety for both the people which leads to stress and lower… Read More »

Industrial Relations: Scope, Appraoches, Significance and Parties

By | May 12, 2020

The Industrial Relations (IR) refers to all types of relationships between all the parties concerned with industry, i.e. employees, employer, trade union, management and State Government who regulate these relations. Thus, IR is concerned with the relationship between management and workers and the role of regulatory mechanism in resolving any industrial despite. Parties to IR are workers, employers,… Read More »

Performance Appraisal

By | May 10, 2020

Performance appraisal is the method of evaluating the behaviour of employees in the workplace, evaluating the quantitative and qualitative aspects of job performance in terms of output. According to dale Yoder, “Performance appraisal includes all formal procedures used to evaluate contributions of group members in a working organisation. It is a continuous process to secure information necessary for… Read More »

Balanced Scorecard

By | May 9, 2020

Robert S. Kalpan and David P. Norton introduced the Balanced Scorecard concept in 1992. This concept involves identifying an organisation’s vision and mission, identifying strategies for achieving this mission and analysing the organisation’s performance from certain perspectives to gain an idea of how the organisation is successful or not. Significance of Balanced Scorecard: Balance scorecard adopts a perfectly… Read More »

Value Based Organisation

By | May 7, 2020

Concept of Values: By value, we mean the motive and/or the basis for choosing between alternative courses of action when a critical decision needs to be taken. High values lead to objective, fair, altruistic decisions and actions and ensure the welfare of all concerned. Low values do exactly the opposite. This can be extended to all facets organisations… Read More »

Decentralisation: Concept, Types, Advantages and Disadvantages

By | May 6, 2020

Decentralisation is an extension of the concept of delegation. It actually refers to the degree to which authority is delegated to lower levels. It gives added responsibility to managers at all level below the top. Only those responsibilities are left which can be exercised centrally only or by top management. The centres of decision-making are dispersed throughout the… Read More »

Foreign Direct investment

By | May 5, 2020

Foreign Direct Investment (FDI) is the investment by the nation in another nation in manufacturing or business either by purchasing a corporation or extending its business abroad. Usually, it is through securities and shares. According to the Financial Times, “Standard definitions of control use the internationally agreed 10% threshold of voting shares, but this is a grey area… Read More »

Enterprise Resource Planning: Introduction, Objectives and Modules

By | April 28, 2020

Enterprise Resource Planning (ERP) is defined as a system which is capable of delivering a highly integrated package of enterprise applications. ERP techniques share a similar mechanism and data model that encompasses wide-ranging end to end operations and maintenance processes such as supply chain, HR, manufacturing, distribution and finance etc. It is a system by which the significant… Read More »

Operations Management: Introduction, Principles, Role and Scope

By | April 27, 2020

Operation management involves planning, organising and directing process in order to attain higher profitability. Operations management was previously known as production management where the entire focus was on manufacturing. However, today operations management is a multidisciplinary area which works with finance and marketing. It ensures that the labour, material and other inputs are used efficiently. It is based… Read More »