The term ‘Inventory’ refers to the stock of raw materials, spare parts and finished products held by a business firm. It is the aggregate quality of materials, resources and goods that are idle at a given point of time. Inventory management refers to the process of managing the stocks of finished products, semi-finished products and […]
Inventory Management
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Organisation: Definitions, Concept, Nature, Process, Approaches and Issues
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Organisation is a process of dividing and combining efforts of a working group for making such joint efforts more productive, effective and fruitful. Organisation allocates duties to the managerial staff. It adds certainty and promptness to the work to be done. It avoids gaps and overlapping functions. It establishes a neat pattern of relationships among […]
Organisational Culture: Definitions, Features, Significance, Elements, Types
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Organizational culture is a complex and deep aspect of organizations that can strongly affect organization members. It defines the content of what a new employee needs to learn to be accepted as a members of the organization. Every organization has its own unique culture or value set. The culture of the organization is typically created […]