Definition: The Sensitivity Analysis or What-if Analysis means, determining the viability of the project if some variables deviate from its expected value, such as investments or sales. In other words, since the future is uncertain and the entrepreneur wants to know the feasibility of the project in terms of its variable assumptions Viz, investments or sales change, can apply … [Read more...] about Sensitivity Analysis
Risk Analysis Techniques
Definition: The Risk is prevalent in all the business decisions, but it is much more inherent in the capital budgeting decisions. These decisions are the long-term decisions, which involves huge cost and whose benefits are derived over a long period of time or during the lifetime of the project. The risk varies according to the nature of investments. A research and … [Read more...] about Risk Analysis Techniques
Glass Ceiling
Definition: The Glass Ceiling refers to the unseen and yet unbreakable barrier that prevents women and minorities from reaching to the higher positions in the organization, irrespective of their achievements and qualifications. In other words, an invisible upper limit in the organization, beyond which it is very difficult or sometimes impossible for a woman or minority men … [Read more...] about Glass Ceiling
Social Loafing
Definition: The Social Loafing is the tendency of an individual to put less effort into the job when he is a part of the group, as compared to when he is working alone. The concept of social loafing can be further comprehended through a “free rider effect” and the “sucker effect”. The former effect is based on an individual’s assumption that, if he does not perform his task, … [Read more...] about Social Loafing
Stages of Group Development
Definition: The Group Development means, forming the association of people to work as a group and direct their actions towards the accomplishment of a common goal. The jobs of each group member are interdependent and hence the performance of one will affect the entire group’s performance. It is often called as a team building or team development. The most famous and a … [Read more...] about Stages of Group Development
Self Theory
Definition: The Self Theory emphasizes on the set of perceptions an individual has for himself and the perceptions of the relationships he has with others and the other aspects of life. Carl Rogers has contributed significantly towards the self theory. The self theory comprises of four factors that are explained below: Self-Image: Self-image means what an … [Read more...] about Self Theory
Trait Theory
Definition: The Trait Theory asserts that an individual is composed of a set of definite predisposition attributes called as traits. These traits are distinguishable and often long lasting quality or a characteristic of a person that makes him different from the others. The two most common trait theories are: Allport’s Trait Theory: This theory is given by Gordon Allport. … [Read more...] about Trait Theory
Socio-Psychological Theory
Definition: The Socio-Psychological Theory asserts that individual and society are interlinked. This means, an individual strives to meet the needs of the society and the society helps him to attain his goals. Through this interaction, the personality of an individual is determined. The Socio-Psychological theory is the contribution of Adler, Horney, Forman and Sullivan. … [Read more...] about Socio-Psychological Theory
Psychoanalytic Theory
Definition: The Psychoanalytic Theory is the personality theory, which is based on the notion that an individual gets motivated more by unseen forces that are controlled by the conscious and the rational thought. Sigmund Freud is closely related to the psychoanalytic theory. According to him, the human behavior is formed through an interaction between three components of the … [Read more...] about Psychoanalytic Theory
Theories of Personality
Definition: The Personality refers to the distinct traits, thoughts, feelings, actions and characteristics of an individual that differentiates him from other individuals. Simply, the personality is the typical behavior of a person in which he responds to the given situations. The term personality is derived from a Latin word ”persona” which means to speak through, it is … [Read more...] about Theories of Personality