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
Sustainable Consumption and Production
Do you know we are consuming more than 50% of the earth can replenish? We must mobilize towards Sustainable Consumption and Production to deal with this situation and minimize its effects. Definition: Sustainable Consumption and Production, or SCP, implies the production and usage of services and related goods that meet the needs and desires of current and future generations … [Read more...] about Sustainable Consumption and Production
Job Rotation
Definition: Job Rotation is a lateral movement of employees after a certain period to jobs at a similar level. However, the change is temporary as the employees' original position does not change. It is a part of the job redesign often practised for beginning-level management. Job rotation plays a vital role in retaining employees. This is because, the employees get … [Read more...] about Job Rotation
C Level Management
Definition: The term C-level Management refers to the topmost level in the hierarchy. The executives at this level are of the highest calibre. They are the highest-ranking officers of the organization. Simply put, these people hold the highest-level job roles in the company. The C-level management aligns the company's operations with strategic objectives. Also, they … [Read more...] about C Level Management
Downsizing
Layoffs and Downsizing have been the talk of the town in recent years. Many big organizations are announcing massive layoffs worldwide. It impacts many people at once and leaves some adverse consequences. Here, we will understand the reasons behind adopting downsizing as a tactical move. Definition: Downsizing refers to a strategic termination of multiple employees, mainly … [Read more...] about Downsizing
Indirect Investing
Definition: The term "Indirect Investing" describes the process of investing money in a portfolio of bundled securities through an intermediary. In simple words, these are third-party investments made through intermediaries. Investors who resist investing directly in the stock market opt for this type of investing. They prefer investing in funds owned and managed by … [Read more...] about Indirect Investing
Succession Planning
Succession Planning is vital for organizations to fulfil present and future staffing needs for key positions. Moreover, organizations try to ensure the supply of the right people at the right job today and in the future. Human resources have a limited span, after which they leave the organization. There can be several reasons behind their exit, some of which are listed … [Read more...] about Succession Planning
Marketing Myopia
You might have observed that some brands and products fail despite being successful at some point. The primary reason behind their failure is a disease named Marketing Myopia. It is the firm's near-sightedness towards its product, strategies and market definition. In general, Myopia or near-sightedness is a vision disorder wherein one faces difficulty in seeing … [Read more...] about Marketing Myopia
Service Culture
Definition: Service culture is the organizational culture focused on creating values for both customers and employees. It signifies that every unit of the organization is committed to delivering superior customer service. Majorly, it is acknowledged in customer-centric service-oriented organizations. In addition, it is also relevant for those who are curious to know … [Read more...] about Service Culture
Investment Decision
Investment Decision is a part of Financial Management which deals with the allocation of the company's valuable funds into investment projects or potential assets. It involves identifying such projects or assets to invest in and generate returns from them. Besides, these decisions significantly affect the profitability and stability of the firm. Some essential … [Read more...] about Investment Decision