Business Management

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

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

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

Do you know the majority misinterprets logistics with transportation? Besides being the backbone of logistics, transportation is just a part of it. Logistics has a significantly wide scope. In this post, we will discuss various types of logistics available at our disposal. Logistics is the integration of several activities. These activities are not universal but … [Read more...] about Types of Logistics

Techniques of Controlling are the tools used for establishing control over business activities, monitoring and taking necessary corrective measures. There are several Traditional and Morden techniques available for efficient business control. The selection of the techniques must be a strategic approach. While selecting the most suitable technique, the organization must study … [Read more...] about Techniques of Controlling

Definition: The Staffing Process is a series of activities performed to employ, manage and retain the manpower inventory to accomplish organizational goals. It ensures the availability of the most suitable person for the Right Job at the Right Time. It covers various interrelated activities required to fill the vacancies designed in the organizational structure. Besides … [Read more...] about Staffing Process

Definition: The span of control in management suggests estimating the optimum number of subordinates managed by a single supervisor. It is a primary factor that determines the shape of the organization. Also, it involves all the management activities than just supervision and control. The levels of management are created based on the span of control expressed by comparing … [Read more...] about Span of Control in Management

Definition: Employee ownership is a model in which the employees own all or maximum stake in the business. It isn't restricted to the higher level but also offered to every management level. Moreover, it provides tax benefits to businesses. This model benefits both the business as well as employees. Employees shares companies' profits, which boosts enthusiasm. Consequently, … [Read more...] about Employee Ownership

Definition: Group Decision-making is a form of participative decision-making, where a group of individuals work together to solve a problem complex in nature. The group members try to discover and test creative alternatives to solve complicated problems. It is a participatory process in which the group members share their Ideas, Knowledge, Expertise and Experience. The group … [Read more...] about Group Decision Making

Definition: The management report is a means of communicating essential information from high to low levels of management. It consists of facts and significant data presented through written, oral and visual tools (Graphs, Charts and Pie-Charts). It provides an insight into the departmental progress through financial and non-financial data of a specified period. Timely … [Read more...] about Management Report