Staff turnover is defined as the rate at which the staff in an organization leave the firm at a specific time. The term staff turnover is used to measure attrition, retention, and turnover
Management articles
Operations Research – Types, Advantages, Disadvantages
Operations research, popularly known as OR, is a scientific research method or a mathematical technique to determine the right decision for a problem. Operations research is used to provide aid to people in
Transportation Management System – Definition, Outline, Components
The transportation management system is commonly referred to as TMS and defined as a tool to assist the supply chain professionals in managing their freight and carriers. It is used by business entities
Labour Relations – Components, Importance, Purpose
Labour relations incorporate the processes involved in between Management & Union or Employers & Workforce for making effective decisions and channelising an organisation. With the inclusion of right Labour Relations Strategies, an organisation
Underutilisation Definition, Meaning and Factors
When full utilisation of the potential/capacity of the workforce and resources essential for optimized growth rate is not being practiced, it is termed as underutilisation. An organization suffering from underutilization issues goes through
Training Needs Analysis – Features, Components, Levels and Benefits
Training Needs Analysis is the process of identifying the training and development needs of the workforce, so they can perform their jobs more effectively to accomplish individual and company goals. In this post,
Quality Audit – Definition, Meaning, Types, Advantages
Definition Quality audit is a process of examination and verification of procedures, records, and activities of a quality system that is carried out by an audit team or an internal or external quality
Recency Effect – Meaning, Examples and Role
As per many psychological theories, when you will be asked to recall the items in any order from a list, there are brighter chances that you will remember the things that were at
What is a Lean Office? Principles and Design of a Lean Office
In simple terms, the lean office is defined as the application of lean management principles or lean philosophy to the front end processes. It was Toyota manufacturing that developed the concept of lean,
Strategic Groups Definition – Meaning And Examples
Definition Strategic groups can be defined as a group of companies within a particular industry that follows a similar strategy or similar business model. The companies that are part of the same strategic
Organisational Commitment – Definition, Meaning, Components
Definition Organisational commitment is described as the psychological attachment of an employee for the company he works. It plays a crucial role in assessing the loyalty of the employee towards his organisation and
Marginal Analysis Definition – Formula and Applications
Marginal analysis is an essential tool in marketing to decide the next step in the market. It helps the managerial heads to choose for any new investment to an activity or thing. It
Production Planning – Definition, Objectives, Types, Importance
Definition Production planning is defined as the planning of production models in an organization or an industry. To serve different customers, production planning makes use of resource allocation of activities of employees, Production
What is a Pyramid Scheme? Meaning and Examples
A business model that recruits members with the promise of payments for recruiting other members in the same scheme is called a pyramid scheme. As more and more members join the scheme, it
22 Types of Incentives – Financial And Non-Financial
In the competitive business era, companies do everything possible to stay ahead in business. Incentives are also an essential part of their efforts. The success of a company depends on the performance of
Horizontal Communication – Definition, Meaning, Types, Features
Horizontal Communication happens when in an organization, communication and flow of messages occur amongst teams, groups or individuals who are at the same hierarchical level. With the help of horizontal communication, an organization
