Characteristics of services
Characteristics of services Perishability Services are intangible and they cannot be stored like physical products. Services are required to be produced at the time of …
Operations Management Challenges
Challenges of operations management Meet the customer’s expectations or need Since many decades all the business organizations have been facing the challenges regarding how to …
Operations Management System
Operations management system Operations management is the process of management that executes the processes or operations to convert input into output which is in the …
Types of Accounting Costs
Types of costs Direct cost Direct cost is the Cost that is directly related to the activities of producing goods or services. The direct cost …
Theory of Comparative Advantage
Theory of Comparative Advantage David Ricardo the British economist introduced the theory of comparative advantage in 1817. This theory belongs to international trade and describes …
Opportunity Cost
Opportunity cost Opportunity cost is the cost of forgoing another alternative that has not been selected but could be. It represent the value of another …
Social Loafing a social phycology
Social Loafing Social loafing belongs to the social psychology that indicates the behaviour of employees or performance of employees is reduced when they work in …
Job Evaluation Methods
Job evaluation Job evaluation is a systematic method of measuring the job value to determine the value of each job to finalize the salary, incentives, …
Behaviorally anchored rating scale
Behaviorally anchored rating scale A behaviourally anchored rating scale is the performance appraisal method or tool used to measure performance by using the predefined standard …
360 degree appraisal
360-degree appraisal Performance appraisal by the 360-degree method describes the evaluation of performance from many perspectives so that every aspect of performance is studied properly. …