Category: Management

Index Numbers

Management > Managerial Statistics > Introduction to Index Numbers According to the Spiegel: “An index number is a statistical measure, designed to measure changes in a variable, or a group of related variables with respect to time, geographical location or other characteristics such as income, profession, etc.” According to Patternson: “In its simplest form, an […]

Tags Arithmetic mean, Base year, Chain base, Choice of average, Commodities, Different Weighted Index Method, Dorbish and Browley's Method, Explicit method, Fisher's Ideal Index Number, Fixed base, Geometric mean, Implicit method, Index Number, Lapeyre's Index Number, Managerial Statistics, Marshall Edgeworth Method, Paasche's Index Number, Price index, Price Index by Dorbish and Browley's Method, Price Index by Fisher's Method, Price Index by Laspeyre’s Method, Price Index by Marshall Edgeworth Method, Price Index Number by Paasche's Method, Quantity index, Quantity Index by Dorbish and Browley's Method, Quantity Index by Fisher's Method, Quantity Index by Laspeyre’s Method, Quantity Index by Marshall Edgeworth Method, Quantity Index by Paasche's Method, Selection of Weights, Simple Aggregative Method, Simple Average of Relative Method, Statistics, Value index

Statistics

Variables in Statistics

A variable is any characteristics, number, or quantity that can be measured or counted. A variable may also be called a data item. It is called a variable because the value may vary between data units in a population, and may change in value over time. For example; ‘income’ is a variable that can vary between data units in a population and can also […]

Statistics

Collection of Primary Data

Management > Managerial Statistics > Collection of Primary Data Methods of Collection of Primary Data: Observation Method: In this method, is obtained by direct observation by the investigator without asking from the respondent. This method is free from the willingness of the respondent and hence the possibility of bias on the part of the respondent […]

Statistics

Stages in the Statistical Survey

Post author By Hemant More
Post date May 31, 2019
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Management > Managerial Statistics > Stages in the Statistical Survey A statistical survey is a scientific process of collection and analysis of numeric data. Human population survey is used in government, health, social science, and marketing sectors. The need for new data starts when data do not yet exist or when existing data do not […]

Tags Execution, planning, Primary data, Survey

HR Audit

Introduction to HR Audit

Meaning of HR Audit: A Human Resources Audit (or HR Audit) is a comprehensive method to review current human resources policies, procedures, documentation and systems to identify needs for improvement and enhancement of the HR function as well as to assess compliance with continuously changing rules and regulations. It is an important management control device to judge organizations performance and effectiveness […]

Tags Comparative approach, Compliance approach, HR, HR alignment, HR Competencies, HR culture and values, HR impact, HR strategies, Human Resouece, Human Resource Audit, MBO approach, Outside authority approach, Statistical approach

Statistics

Characteristics and Limitations of Statistics

Post author By Hemant More
Post date March 10, 2019
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Management > Managerial Statistics > Characteristics, Functions and Limitations of Statistics Characteristics of Statistics: Statistics are aggregate of facts: A single figure cannot be analyzed. A single figure relating to height, production, sales, birth, death etc. cannot be called statistics, but aggregates of such figures like height of students in a class, production of different models […]

Tags Aggregate of facts, Statistical softwares

General

Management in Different Perspectives

Post author By Hemant More
Post date March 10, 2019
2 Comments on Management in Different Perspectives

Management as a Process: The process is a series of inter-related functions. George R. Terry defines it as a distinct process consisting of planning, organizing, actuating and controlling performed to achieve stated objectives. In this perspective, management is creation, operation, and direction of the organization through systematic, coordinated and cooperated efforts of human and machine […]

Tags Activity, Art, Discipline, Function, Process, Science, Team

General

Management – Perspective, Objectives and Effectiveness

Post author By Hemant More
Post date March 10, 2019
1 Comment on Management – Perspective, Objectives and Effectiveness

What is management? The core meaning of management is the act of managing human, technical and financial resources. The person who performs these tasks is called the manager, It can be considered as an organized group (team) effort to achieve the set goals and targets of the organization. The various other definitions are as follows […]

Tags All pervasive, Corporate image, Dynamic function, Goal-oriented, Harold oontz, Henry Fayol, Mary Cushing Nile, Multidimensional, Peter Drucker, Process

Operation Research

Introduction to Operations Research

Post author By Hemant More
Post date March 10, 2019
5 Comments on Introduction to Operations Research

What is Operations Research? Operations Research is also known as management science, decision science or industrial engineering. It helps in providing quantitative aid to the management in a decision-making process. According to the Operational Research Society of UK, Operational Research is the application of methods of modern science on complex problems arising in the direction and […]

Tags Decision-making aproach, Interdisciplinary, Operations research, Scientific approach, System approach

Production and Operations

Production Planning

Production planning is the administrative process that takes place within a manufacturing business and which involves making sure that sufficient raw materials, staff and other necessary items are procured and ready to create finished products according to the schedule specified. Production planning occupies significant place in an organisation because other functional areas of management viz., financing, […]

Tags Aggregate planning, Chase strategy, Estimation, Hybrid strategy, Level strategy, Production planning, Routing, Scheduling