The term incentive means an inducement that motivates or stimulates one to action in a desired direction. Therefore, any wage system that induces a worker to produce more is called "incentive wage system." Incentive wage is a monetary inducement offered to employees to show the performance beyond the standard fixed. Incentive is one of the important factors for inducing and [...]
Allocation of resources is both a one-time and a continuous process. The implementation of a project would require the allocation of resources. An on-going business concern would also require a continual infusion of resources. The allocation of resources may take place at the corporate level i.e. by the Board of Directors and /or the CEO. This is known as the [...]
Downsizing literally means reducing the size of the organisation in order to cut costs, hive off unprofitable operations and improve operational efficiency. In fact, it is a restructuring process to meet the challenges of the environment. In the context of human resource management, downsizing involves elimination of certain jobs with a view to cut pay bill and improves work efficiency. [...]