Human Resource Accounting (HRA)

Human resource accounting (HRA) is the process of recording and identifying human cost . It contains computation and recording the cost of recruiting , selection , training and developments of staff members. Competent and specialized human resources are of vital importance for a corporation much like its physical attributes and investments. Under Human resource accounting an organization manages workers as assets and shows in balance sheet .

Manufacturing Facility Planning

Manufacturing facility planning is concerned about the location, size, layout and specialization or focus of the manufacturing unit. Manufacturing facility planning is dependent on the long-term strategic plan for an organization. For many businesses, long-term capacity and facility location plans are the most crucial strategic decisions. These types of decisions therefore require significant homework and are made at the corporation’s highest level.

Decision Categories in Manufacturing Strategy

Decisions in manufacturing related issues are usually organized into categories, generally known as decision categories. There are various proposed frameworks relating to decision categories in manufacturing. The number of decision categories differs a little among several authors. We will bifurcate the decision categories of manufacturing into structural and infrastructural categories. Structural categories consider physical categories, …

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Competitive Priorities in Operations Management

In operations management, competitive priorities are a crucial decision variable for operations managers. Competitive priorities signify a strategic focus on building specific manufacturing capabilities that can improve a plant’s position in the market. Such focus may guide decisions with regards to the capacity, technology, production process, planning, control, etc. In fact the strength of an …

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Nature of Management

The study and use of management approaches in handling the affairs of the organization have transformed its nature. Numerous contributions in the field of management have altered its nature, for instance, from just a practice to science also. The nature of management can be explained as follows: Nature of Management Multidisciplinary: Management is basically multidisciplinary. …

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Features of Management

Management is the art of getting things carried out by individuals in officially organized groups. According to McFarland, “Management is defined for conceptual, theoretical and analytical uses as that procedure whereby managers create, direct, preserve, and operate organisation by means of organized, coordinated co-operative human effort.” Features of Management The attributes of management are listed …

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Human Resource Development HRD

Human Resource Development (HRD) can be described to include the activities and processes carried out to promote the intellectual, cultural, moral, psychological, social and economic development of the staff members within an organisation in an effort to enable them to attain highest human potential as a resource for the community. Daftur states HRD as a …

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Principles of Human Resource Management

Human resource management is the process of managing an organization’s employees, or human resources. Human resource management (HRM) is the acceptance that workers are not just one of the factors of production like machinery/equipment or cash but they are a key source of competitive advantage. Probably the most essential objective of HRM is the development …

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