Found 657 Articles for Companies/Organisations

Functions of Operations Management

Sakshi Goel
Updated on 24-Jun-2022 12:57:20
What is Operations Management?Operations management is the management of procedures that convert inputs into goods and services that improve supplement for the customer. Operations management (OM) is the management of business execution to create the top-level of planning possible within an organization. It is an anxious way of transforming materials and labor into goods and services as ably as possible to enhance the profit of an organization. Operations management teams try to balance costs with income to achieve the highest net operating profit possible.The target of operations management is to enhance efficiency while manufacturing goods and services that successfully fulfil ... Read More

What are the Key Stages in Supply Chain?

Sakshi Goel
Updated on 24-Jun-2022 12:48:22
What is a Supply Chain?A supply chain is the web of all the respective, company, funds, enterprises and technology involved in the formation and sale of a product. A supply chain surrounds everything from the conveyance of source materials from the supplier to the manufacturer through to its consequent delivery to the end user.A supply chain is a web between a company and its distributor to produce and distribute a particular product to the final buyer. This web includes different enterprises, people, institutions, particulars, and resources. The supply chain also constitutes the steps it takes to get the product or ... Read More

What are the Key Operations Management Strategies?

Sakshi Goel
Updated on 24-Jun-2022 12:42:37
Operations Management StrategiesThe key elements that go into a company’s operations strategy are as follows −Production systemAn organizing production system controls the short-term and long-term planning for how funds are turned into sellable products and services. A general production system includes clear enterprises, quality control specifications, and supply chain management strategies.FacilitiesA company operational capacity is affected by the size and production quantity facilities. To function properly, certain facilities need attainable production goals, clear safety procedures, and inventory management systems.Product or ServiceOne of the most important elements of any operations strategy is the quality management of a product or service. Businesses ... Read More

Supply Chain Management vs. Operations Management

Sakshi Goel
Updated on 24-Jun-2022 12:36:43
What is Supply Chain Management?Supply chain management is the administration of the flow of goods and services and incorporates all practices that change raw materials into final products. It requires the recasting of a business's supply-side undertakings to develop utility and gain a competitive superiority in the marketplace.By executing the supply chain, companies can cut surplus costs and deliver goods to the customer faster. Good supply chain management keeps companies out of the caption and away from costly recalls and legal action.Supply chain management is the controlling of the whole manufacturing flow of a good or service - establishing from ... Read More

Assumptions and Constraints of Consumer Rationality

Sakshi Goel
Updated on 24-Jun-2022 12:16:48
Rational Consumer Choice − DefinitionRational consumer choice is part of microeconomics that expresses consumer behavior as a result of an individual’s own preference. It assumes that consumer choice is dependent upon the personal preferences of consumers. It is used to model the human decision-making process and is thereby used in political sciences and warfare apart from economics.In rational choice theory, the school that is based on rational consumption, agents are illustrated by their non-changing preferences over all conceivable global results. Agents are termed rational if their rationality is complete and ordered. By completeness, it is assumed that preferences are complete ... Read More

Types of Consumption in Consumer Choice

Sakshi Goel
Updated on 24-Jun-2022 12:10:55
In microeconomics, consumer choice refers to the goods and services a consumer purchases. There are many factors that influence consumer choice in reality. However, economists believe that all of these factors fall into two broad categories. These two factors that determine or guide consumer choices are budget constraint and utility.Consumer Choice: DefinitionConsumer choice is the choice of a consumer to buy a product or not. Usually, consumption or the behavior to buy products increase with increasing income. Moreover, it also depends on the happiness the consumer derives out of the product he/she buys.In other words, a consumer will choose to ... Read More

What are the Functions of Organizational Communication?

Sakshi Goel
Updated on 24-Jun-2022 12:06:02
What is Organizational Communication?Organizational communication is established as the passage and forms of communication in which organizations such as institutions, charitable, and executive capture, as well as both the central communications that take place within an organization, and outer-facing communications between an organization and its shareholder.Enhancing organizational communication can have a significant result on the effectiveness of an organization. Individuals with a bachelor’s and/or master’s in organizational communication can work in human wealth, workers training and management, public interrelation and public incidents, retailing, communications authority, media management, strategy and defense, and investigation and direction, among other areas.Major Functions of Organizational ... Read More

Types and Goals of Organizational Behavior

Sakshi Goel
Updated on 24-Jun-2022 11:58:10
Organizational behavior is the study of human behavior and interaction within an organization and with other organizations. Organizational behavior is related to individuals, as well as group of people working together in teams. The concepts and principles of organizational behavior are mostly used to improve the efficiency of businesses.Types of Organizational BehaviorVarious types of organizational behavior are as follows −Autocratic ModelCustodial ModelSupportive ModelCollegial ModelSystem ModelAutocratic ModelAutocratic model is the model that is contingent upon strength, ability and legal authority. In an autocratic organization, the owners who manage the tasks in an organization have legal authority to manage the employees who ... Read More

Challenges and Opportunities in Organizational Behaviour

Sakshi Goel
Updated on 24-Jun-2022 11:47:07
What is Organizational Behavior?Organizational behavior is the study of human behavior and interaction within an organization and with other organizations. Organizational behavior is related to individuals, as well as group of people working together in teams. The concepts and principles of organizational behavior are mostly used to improve the efficiency of businesses.The study of organizational behavior includes areas of investigation dedicated toward improvement of job production, increase in job fulfilment, promotion of innovation, and inspiring leadership keeping the foundation of corporate human resources. Each of these has its own endorse actions, such as restructure groups, adapt compensation structures, or changing ... Read More

Key Tools and Techniques for Performance Management

Revathy Nair
Updated on 29-Apr-2022 08:57:09
Numerous performance management solutions have been created to make the process easier and more effective. Key Performance Indicators (KPIs) and metrics enable organizations, business units, initiatives, and people to assess their performance concerning their strategic goals and objectives.Metrics and Key Performance Indicators (KPIS)The main benefit of any KPI is to allow rich data-driven performance dialogues and improved decision-making. A good KPI should necessarily act in such a way that it shows whether an organization is taking the right path toward its strategic goals or not.Listed below are a few of the most often used tools −Evaluations of PerformancePerformance assessments and ... Read More