Definition: Management By Objectives (MBO) is the process of setting achievable goals for the managers and employees at all the levels to be accomplished within a stipulated period. It streamlines the plan of action of the workforce and establishes their roles and responsibilities. The concept of MBO was introduced by Peter Drucker in his book 'Practice of Management' in the … [Read more...] about Management By Objectives (MBO)
Human Resource
Job Enlargement Vs Job Enrichment
Job enlargement and job enrichment are both used as techniques for employee motivation and satisfaction. However, they differ a lot from each other. The critical difference is job enlargement is a horizontal expansion of duties and tasks across the same organizational level, whereas job enrichment is the vertical expansion of the roles, responsibilities, authority and … [Read more...] about Job Enlargement Vs Job Enrichment
Job Description Vs Job Specification
The critical difference between job description and job specification is that; former is the summary of all the task, role and responsibilities specifying what the company is offering to the candidate. Whereas, the latter is an overview of all the attributes, experience and qualification which the company is looking for in a candidate to pursue the job. Job description and … [Read more...] about Job Description Vs Job Specification
Sources of Recruitment
Definition: Sources of Recruitment can be viewed as various means of connecting the job seekers to the organisation which have suitable job openings. In simple words, it serves as a medium for communicating or advertising the vacant positions in the organisation to get a response from the prospective candidates. The recruiters have to be very careful while selecting any … [Read more...] about Sources of Recruitment
Recruitment
Definition: Recruitment is the process of examining a vacant position in the organisation and attracting the potential candidates to apply for the same, within an appropriate time and at a desirable cost. It is the introductory stage where a job applicant gets to know about the vacancy, and the organisation identifies the candidate's profile. Without recruitment, companies … [Read more...] about Recruitment
Human Resource Management (HRM)
Definition: Human resource management (HRM) is a tactical approach which deals with acquisition, training and development, orientation, motivation and retention of personnel in an organisation. It is a powerful tool for any organisation to succeed. It is a continuous and never-ending process. A human resource refers to the human capital available with the organisation in the … [Read more...] about Human Resource Management (HRM)
Employee Empowerment
Definition: Employee empowerment is the process of facilitating employees with specific authority and responsibility to achieve the organisational vision by exercising their talent, skills and creativity. It was initially being related to forming of trade unions, but it is much more than that. It enables the managers to convert the regular workforce into a high potential … [Read more...] about Employee Empowerment