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Elasticity of Demand
Micro Economics

Factors Influencing Elasticity of Demand

Factors Influencing Elasticity of Demand There are many factors on which the elasticity of demand depends. These factors influence the elasticity of demand of a commodity either individually or …
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Gross Profit
Business Economics

Gross Profit | Meaning | Items included in Gross Profit

What is Gross Profit? Gross profit, in ordinary language is the surplus of total expenditure of the firm. If you refer gross profit anywhere, you actually mean the Gross …
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Inventory Management
Industrial Organization

Factors Influencing Inventory Control

Factors Influencing Inventory Control There are a number of factors which can influence the inventory decisions. These can be broadly divided into the following categories: 1. Characteristics of the …
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Business Environment
Business Environment

Important Concepts of Organisational Behaviour

Concepts of Organizational Behaviour Some of the important concepts having relevance to Organizational Behaviour are discussed below. 1. Individual Differences in Organization People differ not only in their physical …
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Supervisor
Business Management

Supervisor Management | Scientific, Human Relation & Functional Roles of Supervisor

What is Supervisory Management? Supervisory management, also known as lower management level is above the operatives and below the middle management in an organization. This level can be classified …
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Team
Total Quality Management

Roles and Responsibilities of Team Members in a Team

Roles and Responsibilities of Team Members Teams are usually selected or authorized by the Quality Council. A team normally consists of Team leader, Facilitator, Recorder, Timekeeper and Members. Each …
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Workplace Accidents
Business Environment

7 Strategies to Prevent Accidents at Workplace

Strategies to Prevent Accidents at Workplace From the analysis of the causes of accidents at workplace, it is not difficult to visualize the various strategies which may be adopted …
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Factory Building
Business Environment

Factors to be Considered in Planning Factory Building

Factory building should be designed only after a complete production plan, plant layout and equipment sequences are determined so that the building exactly fits the production needs of the …
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Codification
Materials Management

Codification of Materials | Types of Codification System | Advantages

Codification of Materials One of the most important factors in dealing with the materials is the human element which cannot be ignored or bypassed in devising any method of …
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Demand Forecasting
Business Environment

11 Important Steps in Forecasting Demand

Steps in Forecasting of Demand The following steps are involved in forecasting demand for new product in market. 1. Determining the objectives The first step in this regard is …
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