Success is no longer dependent only on your work performance. To a great extent, it is also dependent on your boss as it is he who will recommend you for a hike or
Budget is defined as a plan, financial in nature, for a predefined period usually for a period of one year. For example, a sum of money allocated for a period of one year.
The ability to focus on relevant environmental stimulus is called attention. High attention would mean focusing only on the relevant part and removing attention from the irrelevant part. In scientific words, attention is
Absenteeism is informed or uninformed unavailability of an employee at work. Taking long, unnecessary breaks at work, being disinterested, leaving early etc. are also forms of absenteeism. Employee absenteeism can be very costly
Attracting the required talented individual is like finding the right fit. There are lots of people with varied personalities, training, experience, and skills who are on the look-out for jobs. The precise interviewee
Business etiquette are two simple words but with great deeper meaning. It involves essential behavior and subtle nuances that have the power to create a great impression and positive impact on the prospective
Ask any veteran who has spent his entire career managing workers in a factory and he will tell you that the principles of management outlined by Taylor, Fayol prove indispensable to running an
Before the commencement of the first World War, imperialism had reached its zenith and there was the high focus on increasing economic efficiency from existing resources as new colonies were hard to find.
Stakeholder Theory is a theory of management that concerns itself with matters related to morals and ethics in running a business. Ian Mitroff, in his 1983 book “Stakeholders of the Organizational Mind,” originally
Spillover effects are events caused due to something in a seemingly unrelated context. It refers to events that occurred in one context affecting events in a different context. The term is usually used
Work is essential to make a living for all of us. Even though work is important for an income, it should not be everything and it is should be treated in the right
No discussion about administrative management theory is complete without a reference to Henri Fayol, the godfather of modern management principles. Henri Fayol was born in 1841AD and devoted his life to developing and
Salaried personnel receives a regular amount, which is their income. However, they don’t enjoy the freedom to spend the entire amount at their free will as they pay a small amount as Income
If you are reading this, chances are that you have a hunch that the roles we play in daily life at home are the same we play at the workplace in terms of
Cooling off period has two meanings. The first one happens in an agreement which allows the buyer to back out from the contract within a stipulated time, as mentioned in the agreement without
If one country is able to produce a good or service at a lower opportunity cost than another good or product, then it is said to have the comparative advantage in the production