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 …
Usually, goods and services are the results of human or nature efforts. A good is a tangible item utilized either once or repeatedly. A service is intangible. The tangibility characteristic signifies the ability to taste, smell, touch and see which is missing in services. Example of goods: book, salt, shoes etc. Services are supplied by …
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. …
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 …
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 …
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 …
Significant differences exist between human resource management (HRM) and personnel management (PM). Personnel management is a traditional approach but human resource management a modern approach. Human Resource Management (HRM) Vs Personnel Management (PM) 1. Numerous remarks on the subject of Personnel Management seem to visualize it as a management activity, which is mainly targeted at …
In accordance with empirical data at an aggregate level it has been debated that the tendency to internationalise corporate technological activity is higher among organizations coming from smaller countries and in less research-intensive industries. Nevertheless, more disaggregated proof on the patenting of the world’s largest companies indicates a far more complex image. First, the share …
The trend of technological life cycles is debated to be of great value in the growth and development of regional clusters. New ‘disruptive’ technologies may trigger the growth of new regional industrial clusters and/or create unique opportunities for further development of existing ones. Nevertheless, they may also lead to stagnation and decline of the latter. …
To make a person work for the same goals as the corporation, the management has to appeal to the individual worker’s needs and factors of motivation. To overbuild current differences between individual and company aims, incentive systems are created. These may have different formulations, and rewards given can take many forms according to individuals’ motivating …