Definition: Employee Morale is all about the attitude, satisfaction and the purview of employees, about the organization when they were employed there. Generally, organizations with bad working conditions, environment and organizational culture may find low morale in their workers. It determines the employee's enthusiasm, willingness and energy for working or absence of … [Read more...] about Employee Morale
Suggestive Selling
Definition: Suggestive Selling refers to an approach that companies use nowadays to promote sales. In this, the sales executives interpose to add complementary items to their initial purchase or persuade them to purchase a higher-priced item. They do so by presenting its features and comparing it with the item they were originally interested to buy. It aims at increasing the … [Read more...] about Suggestive Selling
Types of Business Letters
Business organizations make use of different types of business letters on a day-to-day basis. It is a life-breath of any business, no matter if it is big or small. Even after the availability of digital modes of communication, conventional mail is still in vogue. Business Letters implies any written communication that plays the role of the company's representative. Hence, a … [Read more...] about Types of Business Letters
Types of Presentations
Presentation is a kind of oral communication in which information flows from the speaker to the audience. It needs prior preparation, organization, event planning, making use of visual aids, handling stress and answering questions. The presentation involves public speaking. It is all about presenting the facts, statistics, data or a point of view on any topic formally. Further, … [Read more...] about Types of Presentations
Financial Crisis
Definition: Financial Crisis refers to a situation in which there is an acute decline in the value of assets. Also, the businesses and consumers are not able to pay off their debts and the banks face liquidity shortages. It is related to a bank run - a situation in which many investors sell their assets or withdraw money from their accounts, as they feel like the value of their … [Read more...] about Financial Crisis
Presentation
Definition: A presentation is a form of communication in which the speaker conveys information to the audience. In an organization presentations are used in various scenarios like talking to a group, addressing a meeting, demonstrating or introducing a new product, or briefing a team. It involves presenting a particular subject or issue or new ideas/thoughts to a group of … [Read more...] about Presentation
Material Management
Definition: Materials Management is one of the main functions of SCM i.e. supply chain management. It is concerned with all the activities related to the flow of material. It covers - planning, sourcing, procurement, scheduling, storing, providing, and controlling appropriate materials. By the term 'materials' here we are referring to both - Direct Material and Indirect … [Read more...] about Material Management
Employee Retention
Definition: Employee Retention refers to the ability of the organization to avoid the turnover of the employees. That is to keep its invaluable manpower. Besides, it is a state wherein the employees opt to stay and work for their current company. Also, they don't look for other job prospects. Therefore, it is diametrically opposite to employee turnover. In addition, it is a … [Read more...] about Employee Retention
Corporate Citizenship
Definition: Corporate Citizenship is the responsibility of the corporation to develop the value of the business by working for the well being of all the parties with which it deals. It implies the social responsibility of business and the degree to which it adheres to legal, environmental, cultural, ethical and economic responsibilities. Above all, it is a philanthropic … [Read more...] about Corporate Citizenship
Demotion
Definition: Demotion implies the unavoidable reduction in the rank or designation of the employee, within the hierarchy of the organization. It can be a permanent reassignment of the employee to a lower rank than the rank he is working on currently. Further, the rank in which the employee will work after demotion shall contain lower responsibilities and will require a lesser … [Read more...] about Demotion