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 which is capable of satisfying the market demand. Majorly, it focuses on the system aspect … [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
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