Organizational Health – Concept, Dimensions, and Characteristics

Management Concepts

Organizational Health Approach – Building a Strong Workplace

Modern Management Concepts

Participative Management – Workers Participation in Management

Human Resource Management

Case Study on Entrepreneurship: Larry Page

Business Analysis

The Boundaryless Career: Modern Contemperory Perspective on Career

Human Resource Management

Product Line Pricing

Since almost every firm has several items in its product line, product line pricing becomes an important  phase of pricing policy. The problem of product line pricing is to find the proper relationship among the  prices of numbers of a product group. Product line pricing may refer to product group. Product line  pricing may refer to products physically the same but sold under different conditions. This gives the seller  an opportunity to charge different prices. Thus use differentials (e.g. hot coffee versus cold/iced coffee),  seasonal differentials (e.g. night fights or night telephone calls), and style cycles differentials are all  phases of product line pricing. The rationale for this heterodox approach to pricing is that the essential  economic features of the product line is the cross-elasticity of demand that exist among parts of the  seller’s output. General Approach to Product Line Pricing The underlying principle in product-line pricing is that demand Continue reading

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Key Elements of Strategic Management

Strategic management is defined as a process of specifying the objectives of the organization, developing policies and planning to achieve the objectives, and then allocating resources so that plans can be implemented. Strategic management is considered to be the highest level of managerial activity that the top management of the organization performs and also the executive team. Strategic management normally provides the overall direction of the entire organization. Strategic management is a set of actions and decisions that result to the formulation and implementation of approaches designed to achieve the objectives of the organization. This is a continuous process that is normally involved with the attempt of matching the organization with the changing environment in a manner that is advantageous. Strategic management is extremely critical in the survival of the organization. Elements of Strategic Management Organizations are supposed to select the directions in which it will move towards. Strategic management Continue reading

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Line Balancing in Production Management

A production line is typically associated with continuous or flow production  system. Production lines are particularly appropriate for high volume operations. In a  production line work is divided into individual tasks and assigned to consecutive  workstations on the line. In mass production on progressive assembly line the workload  between various machines or workstations should be balanced. The need for balancing  the line becomes obvious when it is considered that the output to be received from the  line is determined by the maximum time involved in the performance of work at one  particular workstation. The imbalances existing in the line would lead to wastage of  time at all other work stations when one work station holds up the total output rate.  Therefore, it is necessary to level out or balance the cycle times at each workstation. Line balancing refers to the apportionment of sequential work activities into  workstations in order to Continue reading

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What is Business Process Automation?

Business process automation (BPA) is the use of technology to automate repetitive and manual business processes. It is a way to streamline and optimize processes, reduce costs, and improve overall business efficiency. With BPA, companies can achieve significant savings in terms of time, money, and resources. In this article, we will explore the concept of business process automation, its benefits, and how it can be implemented. What is Business Process Automation? Business process automation refers to the use of technology to automate repetitive, time-consuming, and manual tasks that are part of a business process. These tasks can include data entry, document processing, invoicing, payroll processing, and many others. By automating these tasks, businesses can eliminate errors, reduce costs, and increase efficiency. Business process automation is often implemented through software applications that are specifically designed to automate specific tasks or workflows. These applications can be customized to meet the specific needs Continue reading

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Performance Related Pay – Definition, Objectives and Conditions

Rewarding performance is the element of the performance management process which seeks to give employees some kind of return for achieving their targets. This is wider than just financial recompense and includes such things as praise, greater opportunities for training and development, and promotion. Very often one of the things most sought by an employee is the recognition that he or she is doing a good job and where, for example, this is expressed in terms of bonus it is very often the recognition rather than the cash that really matters. It is only when money enters the equation that rewarding performance become very tricky and the emphasis her is therefore on the financial aspects. People very often consider performance management solely in terms of Performance Related Pay (PRP). PRP is a method of remuneration that provides individuals with financial rewards in the form of increases to basic pay or Continue reading

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Functions of Life Insurance Corporation of India (LIC)

Life insurance business in India was being transacted by private companies until 1956. As a result of the long felt need and in the interest of insuring public, the life insurance business was nationalized in 1956. The nationalization resulted in the establishment of Life Insurance Corporation of India (LIC) by an act of the Parliament. The Corporation was formed and began to function on September 1, 1956 by taking over 170 companies and 75 provident societies. The entire initial capital of Rs.5 crore was contributed by the government of India. The objective of nationalization was described by the then finance minister, C. D. Deshmukh as “to see that the gospel of insurance is spread as far and wide as possible so that we reach beyond the more advanced urban areas well into the hither to neglected rural areas.” The Corporation is a body corporate having perpetual succession with a common Continue reading

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