Micro Economics
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 …
Business Economics
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 …
Industrial Organization
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 …
Business Environment
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 …
Business Management
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 …
Total Quality Management
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 …
Business Environment
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 …
Business Environment
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 …
Materials Management
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 …
Business Environment
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 …
