Job Analysis Methods are the means of acquiring essential job-related information like - Duties, Skills-set and Responsibilities. It is a vital step in the Job Analysis Process. Selecting suitable candidates for Jobs is crucial for all organizations. For this purpose, the organization appoints dedicated personnel called Job Analysts. The job analyst needs some data … [Read more...] about Job Analysis Methods
Divestiture
Definition: Divestiture implies the strategic move taken by the business's management which involves discontinuation of a business unit either partially or fully by selling/separating a piece of asset, service, property or product line with the motive of being profitable and streamlining operations. Simply put, the management decides to cease the operations that cannot make … [Read more...] about Divestiture
Types and Causes of Unemployment
A segment of the workforce that is sufficiently educated and skilled is Jobless. It is not merely an issue but a critical macroeconomic problem for countries. Read through this post and learn the main Types and Causes of Unemployment. All non-working persons can't be called unemployed. But, a person is said to be unemployed when they are educated, skilled and willing to work … [Read more...] about Types and Causes of Unemployment
Functions of Stock Exchange
The Functions of the Stock Exchange are not restricted to just trading but are a most extensive part of the economy. Therefore, it performs many functions which are crucial for Investors, Firms and the Economy as a whole. The main function of a stock exchange is to make trading easier by assisting sellers in finding qualified purchasers for their stocks or other … [Read more...] about Functions of Stock Exchange
Promotion Mix in Marketing
Imagine you own a product of some sort, and nobody is aware of it. Customers or Dealers will only buy it once they are informed about it and its associated benefits. Here, the Promotion mix comes into the picture. Definition: Promotion Mix or Communication Mix is the blend of the various promotion variables or elements that help promote the organization's offerings, such as … [Read more...] about Promotion Mix in Marketing
Aggregate Supply
Definition: Aggregate Supply implies the monetary value of the total output that the firms are willing to produce in an economy at a general price level at a certain period. Here producers are willing and able to sell at a particular time period. We have always learned that the ultimate goal of producers is to become profitable. It is alternatively known as the … [Read more...] about Aggregate Supply
Industrial Sickness
Meaning: Industrial Sickness or Technical Insolvency is the consistent downfall of the industry's financial position. Simply put, a sick industry is one that is earning losses from a significant period. Moreover, it is expected to continue to suffer losses in the upcoming financial years. Generally, sickness means not being healthy or fit. An industrial unit's … [Read more...] about Industrial Sickness
International Pricing
Definition: International Pricing refers to the strategic marketing activity determining the monetary exchange value of the product sold across countries. It is the flexible element of the marketing mix which can be altered easily. However, price competition in the market is a significant issue. Also, it is an essential factor in determining the following: … [Read more...] about International Pricing
Production System in Operations Management
Definition: A Production System implies the set-up consisting of assets such as facilities, machines and equipment that transform resources into valuable output using processes and technology. In other words, we can understand it as a system that converts factor inputs into outputs capable of satisfying the market demand. Majorly, it focuses on the system aspect of the … [Read more...] about Production System in Operations Management
Production Function in Economics
Definition: Production Function in Economics studies the mathematical relationship among the physical input and outputs of production under given technology at a certain period. In other words, it expresses the technical relationship between input and output, i.e. the number of commodities produced and variables or factors used in production. It addresses the … [Read more...] about Production Function in Economics