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 »

Integrated Marketing Communication: Concept and Compoenents

By | April 25, 2020

As the name Integrated Marketing Communication (IMC) signifies, it involves integrating all the methods of brand promotion to improve a particular product or service among its target market. It is helpful in creating brand awareness among the customers at minimal cost and resources while saving time. The different components of integrated marketing communication are: Foundation: It involves a… Read More »

Trade Unions: Characteristics, Objectives

By | April 22, 2020

A trade union may be defined as an organisation of employees formed on a continuous basis to secure a diverse range of benefits, rights privileges of the workers in an organisation. According to Edin B Flippo, “A trade union is an organisation of workers formed to promote, protect and improve, through collective action, the social, economic and political… Read More »

Human Resource Development: Objectives, Process, Features

By | April 21, 2020

Human Resource Development (HRD) is a positive humanistic concept in human resource management based on the belief that an investment in human beings is necessary and will invariably bring in substantial benefits to the organisation in the long run. HRD seeks to show people as assets on the credit side of the balance sheet. Objectives of HRD: People… Read More »

Management Development

By | April 20, 2020

Management development is the process where the manager not only acquire skills and competencies but also capabilities for future managerial tasks. Management development denotes planned efforts to improve current and future performance of executives to prepare them for the higher jobs in the organisation. Role of Management Development: Management development aims at increasing the knowledge along with the… Read More »

Job Analysis

By | April 19, 2020

It is a formal and detailed examination of jobs in order to understand the tasks that need to be done and the skills required to do these tasks under this job. It is a significant HR activity. Job analysis provides the analyst with basic data related to specific jobs in terms of duties, responsibilities, skills, knowledge, degree of… Read More »

Financial Statements

By | April 18, 2020

Financial statements are the end product of an accounting process. Financial statements are historical and are prepared by following the accounting concepts and principles. According to John N Myer, “Financial statements provide a summary of accounts of business enterprise, the balance sheet reflecting the assets, liabilities and capital as on a certain date and income statements showing the… Read More »

Collective Bargaining

By | April 17, 2020

Collective bargaining is a process of negotiations between employers and group of employees aimed at reaching agreements in respect of the terms and conditions of employment of employees, such as wages, hours of work, working conditions and grievance procedures and about the rights and responsibilities of trade unions. The interests of the employees are commonly represented by representatives… Read More »

Strategic Role of HRM

By | April 15, 2020

The role of Human Resource Management has evolved in the last two decades. In the current context, HR managers are focussing on recruiting and managing the workforce in order to meet the strategic goals of the organisation. It has a key role in fulfilling the visions and mission of the company. Companies work and reach goals through their… Read More »

Organisational Structure

By | April 14, 2020

The term organisational structure reveals the established pattern of relationship among the constituent parts of the organisation. It prescribes the relationships among various activities and various positions in an organisation. It is nothing but a chart of relationships. Organisation Structure refers to a system where the work is divided formally. These smaller tasks are gathered and synchronised in… Read More »