Definition: Job analysis refers to the process of systematically identifying, obtaining and recording all the facts and details concerning the job through various methods. It encompasses gathering information related to the knowledge, skills and abilities (KSA) which the job holder must have, to perform the job satisfactorily. Here knowledge implies the degree to which the…
Read moreDefinition: Talent management is the systematic process of identifying the vacant position, hiring the suitable person, developing the skills and expertise of the person to match the position and retaining him to achieve long-term business objectives. Talent Management Process Model Planning: Planning is the initial step in the process of Talent Management. It involves the…
Read moreDefinition: Risk management is the process of optimising the uncertainties and grabbing the opportunities for growth and prosperity of the organisation. What is Risk? The possibility of uncertain returns on investment resulting in chances of loss or low profitability is termed as a risk. Possible return is directly linked with the risk involved. i.e. High…
Read moreDefinition: Leadership is the process of channelising the energy of an individual or a group towards the realisation of specific goals, objectives and vision. Theories of Leadership Over the decades, many great scholars, researchers and academicians have conducted various research and studies to discover the factors that contribute to effective leadership. In this process, the following…
Read moreDefinition:”The ability to create a vision and influence, motivate, inspire and transform others to achieve certain goals towards that vision is known as leadership.” Leadership is the specific set of skills and attributes which can be acquired through learning. Who is a Leader? A Leader is a person who guides others and motivates them to…
Read moreDefinition: Strategy Formulation is an analytical process of selection of the best suitable course of action to meet the organizational objectives and vision. It is one of the steps of the strategic management process. The strategic plan allows an organization to examine its resources, provides a financial plan and establishes the most appropriate action plan…
Read moreDefinition: Perception is a process by which people regard, analyze, retrieve and react to any kind of information from the environment. For example, some people feel happy about earning money while others feel happy about spending money. Factors affecting Perception The factors which affect the perception are shown in the figure below: Process of Perception…
Read moreDefinition: Labelling is a part of branding and enables product identification. It is a printed information that is bonded to the product for recognition and provides detailed information about the product. Customers make the decision easily at the point of purchase seeing the labelling of the product. Labels must comply with the legal obligations. A…
Read moreDefinition: A Group is basically an assemblage of people. It can be understood as a collection of individuals (two or more), who come together and interact with each other, so as to achieve the objectives of the organization. These are the foundation of an organization. Characteristics of Groups Size: To form a group, it must…
Read moreDefinition: Motivation is a driving force which affects the choice of alternatives in the behaviour of a person. It improves, stimulates and induces employees leading to goal-oriented behaviour. For example, promotion is a motivating factor as employees work to achieve preset targets for getting a promotion. Motivation can be monetary, e.g., rewards given in the…
Read more