Employee Profit Sharing is an employee benefit plan that allows employees to share in the profits of a company. This plan enhances motivation and aligns the interests of employees with those of the company.
An in-depth analysis of the formal agreement that defines the relationship, roles, and responsibilities between an employer and an employee, ensuring compliance with Affirmation Action laws and prohibiting discrimination.
Detailed Overview of Employment Tests Used by Businesses in the Employee Selection Process
Empowerment is a form of participative management where employees share management responsibilities including decision making and establishing work goals. This fosters self-directed work teams.
Entrepreneurial profit represents the earnings that compensate a skilled businessperson for their expertise and successful efforts, typically exceeding the normal profit expected from competent management.
Detailed exploration of the term 'Ex Officio,' including its definition, examples, historical context, and applications.
An Executive is a top-level management position with major decision-making authority in an organization, often receiving incentive pay such as bonuses.
An executive committee is a senior-level management committee empowered to make and implement major organizational decisions, oversee activities, and plan future initiatives.
Executive Information Services (EIS) is an online strategic management system that utilizes a central database to fulfill organizational information analysis requirements. EIS allows querying on a wide range of criteria to assist in the strategic decision-making process.
A detailed exploration of executive perquisites, commonly known as perks, including definitions, types, examples, and their roles in compensation packages.
An Executive Search Firm, often referred to as a Headhunter, is a company that specializes in recruiting executive and other senior-level personnel for their client companies in various industries.
An executive secretary acts as an administrative and secretarial assistant to top-level management personnel in an organization, handling substantial clerical and administrative responsibilities.
An Exit Interview is conducted as an employee leaves the employment of an organization. The purpose of the interview is to obtain feedback about the general feelings of the employee and to seek ways to improve the organization, often leading to a frank discussion of employment issues.
An in-depth exploration of the Expectancy Theory of Motivation, its components, and its implications in various domains.
A comprehensive guide to understanding Expense Reports, their components, importance, and submission process.
An in-depth exploration of Expert Power, the ability to influence decisions and actions due to expertise and specialized knowledge.
Express Authority refers to the clear and unequivocal granting of authority, either orally or in writing, to act on another's behalf. It is explicitly communicated and not inferred from circumstances.
A comprehensive overview of extenuating circumstances, their types, examples, and relevance in various contexts.
Understanding the distinction between external changes, which originate outside the production system, and induced changes, which arise due to market and input variations affecting production processes.
An in-depth look at external reports, their purposes, different types, special considerations, examples, historical context, applicability, and related terms.
A comprehensive guide to Facilities Management, covering its principles, types, benefits, and applications in corporate and government settings.
An examination performed on a function, project, or interrelationship that failed to fulfill its objective. Failure analysis is an attempt to determine why a goal was not achieved in order to correct the problem for the future.
An in-depth exploration of fallback options in management, including definitions, types, considerations, examples, and related terms.
Fast tracking is a management practice where certain employees are chosen for rapid advancement based on their outstanding characteristics, often involving special midcareer training programs.
A comprehensive overview of the term 'file,' including its applications in organizing information, data storage, and formal submission processes.
A comprehensive examination of the term 'fire' as it relates to the discharge or termination of an employee, including definitions, types, reasons, and implications.
An in-depth exploration of First-Line Management, focusing on supervisors who bridge nonmanagerial workers and higher management levels, including their responsibilities, titles, and significance in organizations.
Understanding Fixed Fee: A set price for project completion, its implications, benefits, risks, and applications in various fields.
Flextime allows employees to choose their working hours, provided they complete the required number of hours.
The Focused Factory is a form of production limited to a very small number of products for a particular target market. This approach requires a smaller investment and allows developing a greater degree of expertise compared to a diversified manufacturing operation.
Forward integration is a business strategy where a company extends its operations to include activities closer to the end customer, aiming to enhance control over the supply chain and increase market share.
An in-depth look at the concept of 'Free Riders' within organizations, where individuals benefit from a group's efforts without making adequate contributions due to lack of individual responsibility.
A form of management supervision that allows subordinates to function on their own without extensive direct oversight, letting people prove themselves based on accomplishments.
Comprehensive guide to the front office, defining its role, functions, and significance within an organization.
Functional authority refers to the capacity of staff in specified areas of expertise to initiate as well as veto actions. This type of authority ensures direct implementation of decisions by the concerned personnel in domains like accounting, labor relations, and employment testing.
A comprehensive overview of a functional organization structure where departments are created based on organizational functions such as marketing, finance, and personnel.
Gain Sharing is a motivational technique in which employees are compensated for measurable performance gains in areas such as sales, customer satisfaction, and cost reductions, often given to teams for achieving specified goals.
A detailed exploration of Geographic Division as a divisional unit within an organization that is structured based on its operational location.
An in-depth look at the invisible barriers that women and minorities face when trying to advance into senior management levels in organizations.
Detailed exploration of the role and functions of a go-between as an intermediary between individuals or groups, including types, examples, and historical context.
A goal is an individual or organizational objective intended to be achieved within a specific time period. For example, an organizational goal might be to become the market leader in a particular product category by the end of the following year.
Goal Congruence is the managerial principle that ensures the actions of all parts of an organization are aligned with the overarching objectives of the organization.
Goal Setting: The systematic process of defining and organizing steps to achieve specific objectives for individuals or organizations.
Goldbricking refers to the act of avoiding duties or responsibilities, often by pretending to be busy or wasting time.
Golden Parachutes are lucrative contracts provided to top executives that offer lavish benefits in the event of a company takeover. These benefits often include severance pay, stock options, and bonuses.
An in-depth exploration of the graduated wage system, a salary structure where wages increase incrementally based on job grade, seniority, experience, or performance.
Detailed explanation of group interviews including types, applications, historical context, and comparison with other interview techniques.
Group norms refer to the set of behavioral expectations explicitly or implicitly established by a group, which influence the actions and attitudes of the group's members.
An Overview of the Halsey Premium Plan, its historical context, objectives, and implications for modern business practices. Devised by Frederick A. Halsey in the late 19th century, this system aimed to address inefficiencies and management rate cutting associated with the piece-rate system.
A hatchet man is a company employee responsible for reducing personnel or informing them of their dismissal and the terms of severance.
The Hawthorn Effect explains how employees may change their behavior due to the attention received from management supervision, a concept highlighted in the Hawthorn studies.
A comprehensive look at hierarchy in organizations, discussing roles, responsibilities, and objectives with the CEO at the pinnacle.
Horizontal Specialization involves dividing a single management function, such as recruiting, among subordinates to enhance coordination and control in growing organizations.
The Human Relations School of Management emphasizes the importance of understanding human motivation in the workplace, asserting that employee motivation is fostered through recognition, encouragement, and reward of individual contributions.
Human Relations Skills encompass leadership, communication, decision-making, negotiation, counseling, and conceptual skills, vital for effective interaction with personnel in a management context.
Human Resources encompass the most important assets in any organization, ensuring that the right people are available in the right place at the right time to meet organizational needs.
Human Resources Management (HRM) focuses on maximizing the use of an organization's human resources by managing, recruiting, and developing employees to drive organizational success.
An in-depth look at Hygiene Factors in Herzberg's Two-Factor Theory, explaining their role in maintaining employee satisfaction.
An insightful explanation of Ideal Capacity, including its definition, significance in economics and management, implications on fixed costs, and how it compares to actual capacity.
An impasse, often referred to as a deadlock, occurs when there is no movement in negotiations or decision-making processes, often due to a lack of compromise between involved parties. An example of this would be a stalemate in negotiations between an employer and a labor union.
An examination of the term 'In-House', referring to activities or services carried out within an organization instead of by external contractors, including a discussion on the cost implications.
Incentive Pay is a wage system that rewards a worker for achieving productivity above an established standard, as a variation of the piece-rate system developed by Frederick W. Taylor.
An incentive wage plan is a compensation system where wages increase with productivity beyond an established standard, aimed at fostering both individual and team performance.
An exploration of individualism as a philosophy and quality in the workplace, highlighting its benefits and potential challenges.
Industrial relations refers to the dealings and interactions between a company, its employees, and other stakeholders, focusing on teamwork, collaboration, and conflict resolution.
Inferred Authority refers to the authority that is assumed or exercised by an individual when a higher authority leaves their post, based on inferred ability and responsibility.
An informal leader is an individual whose influence on a group stems from their acceptance by group members rather than from any official position or title. This entry explores the concept of informal leadership, its characteristics, and its significance in various organizational contexts.
Exploring the informal aspects of an organization that are not clearly defined within the formal structure, including human relationships, actual power dynamics, and social networks.
Understanding Initiative: The Aptitude for Self-Driven Actions and Entrepreneurial Activities
A detailed exploration of nonmonetary rewards for performance, including examples, types, and special considerations.
Forward Integration involves expanding the operational scope of a business to include activities closer to the final customer, such as a manufacturer establishing retail outlets.
Intermittent Production refers to the process of producing several different products on the same production line, allowing for efficient utilization of resources and maximized productivity by switching between products.
Comprehensive measures and policies to protect company property from theft and damage, including examples such as the use of locked fences for outdoor security.
An interview is a structured conversation between two or more people aimed at obtaining specific information for various purposes such as guidance, counseling, treatment, or employment.
Understanding how Interviewer Bias influences the initial impressions and decisions in a job interview setting.
Inventory planning involves determining the quantity of inventory and its timing to align with production or sales needs. Effective inventory planning is crucial for minimizing costs and maximizing productivity.
Organizational analysis of a job to determine the responsibilities inherent in the position as well as the qualifications needed to fulfill its responsibilities.
An in-depth look into the method of categorizing jobs into ranks or classes for work comparison and wage comparability.
A Job Cost Sheet details the budgeted or actual costs of materials, labor, and overhead required to produce a product. It is pivotal in job order costing systems employed by companies producing custom goods.
An in-depth analysis of Job Depth, referring to the amount of discretion an employee has in a job. It includes discussion on its importance and impact on job satisfaction and organizational effectiveness.
Job Enrichment involves expanding job responsibilities and giving employees increased control over the total production process. This includes training, support, and greater input into manufacturing procedures to motivate and satisfy workers better.
A Comprehensive Guide to Job Evaluation Methods, Importance, and Application in Organizations
A job lot refers to a form of contract that specifies the size of a production run needed to fulfill a job order. This term is commonly used in manufacturing to denote the quantity of items produced to meet a particular order's requirements.
Job rotation involves moving employees between different jobs to provide diverse experiences and mitigate monotony.
An exploration of job satisfaction, its importance, factors influencing it, and its impact on employees and organizations.
Job sharing involves dividing the responsibilities and hours of a single job between two individuals, providing a flexible work arrangement and an alternative to layoffs.
A job specification sets forth the skills, education, and experience required for a particular position.
The comprehensive assessment of managerial effectiveness across eight crucial domains as proposed by management theorist Peter Drucker.
KUDOS recognition is a form of acknowledgment given by an entity for achievements. Credit can be given in various forms, such as a bonus, medal, or trophy.
Understanding the significance, types, and implications of labor agreements in shaping the terms and conditions of the work environment.
The Labor Pool is a source of trained personnel from which prospective workers can be recruited, such as college graduates from business schools who serve as an attractive labor pool for recruiting management trainees.
Laissez-Faire Leadership is a management approach where a manager delegates decision-making authority to subordinates. This weakest form of management style aligns with employee empowerment.
Latitude refers to the ability to exercise judgment within a range of authority without outside interference. This autonomy allows individuals, such as supervisors, to make decisions based on their judgment.
A comprehensive overview of 'Lay Off,' the process of temporarily or permanently removing employees from a company's payroll due to economic slowdowns or production cutbacks, not related to employee performance or behavior.
An in-depth examination of leadership, detailing its essential role in providing vision and direction for companies.
A detailed explanation of Leave of Absence, including its definition, types, special considerations, examples, and historical context.
Understanding the concept of 'Level Out' in production and supply chain management, highlighting its importance for ensuring efficient and predictable operations.
An in-depth exploration of Lifetime Security, a form of employee job security guaranteeing protection against layoffs during economic slowdowns or plant closings.
The term 'line' in management contexts refers to personnel directly involved in production or distribution, as well as types of goods produced or carried, such as a product line.
An examination of the organizational structure where management personnel (staff) have advisory roles while operational personnel (line) hold direct job performance responsibilities.
