Different Exchange Rate Systems. The conversion rate of one currency into another. This rate depends on the local demand for foreign currencies and their local supply, country's trade balance, the strength of its economy, and other such factors. In finance, an exchange rate (also known as a foreign-exchange rate, forex rate, FX rate or Agio) between two currencies is the rate … [Read more...] about Different Exchange Rate Systems with Pros and Cons
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Fredrick Winslow Taylor: The Father of Time and Motion Theories
Fredrick Winslow Taylor: Fredrick Winslow Taylor is one of the few personalities who made a tremendous impact on the modern management system and made bare the enigma of productivity at the height of industrialization taking place in the late 19th century in the USA. He is now rightly referred to as the father of scientific management, 0the phrase 1st developed & coined by … [Read more...] about Fredrick Winslow Taylor: The Father of Time and Motion Theories
Japanese Management – Meaning and Components
Japanese Management. The respective author is interested to particularly illustrate here the Japanese management system because the system has some extraordinary ingredients that are essential particularly in the improvement of productivity, quality, and culture of hard work & in fostering social responsibility. Japanese management system & their unprecedented success … [Read more...] about Japanese Management – Meaning and Components
Different Types of Motivation Theories – Meaning and Definition
Different Types of Motivation Theories: Some of the most important theories of motivation are as follows: Maslow’s Need Hierarchy Theory Herzberg’s Motivation Hygiene Theory McClelland’s Need Theory and others. From the beginning modern, when human organizations were established, various scholars have tried to find out the ways to what motivates people to work. … [Read more...] about Different Types of Motivation Theories – Meaning and Definition
Meaning of Work Study – Definition and Objectives
Meaning of Work Study. It can be focused as a scientific method that ensures measurement into the work content of a job & takes recourse to a better method of doing it & thus realizes the best utilization of human, machinery & other resources of an organization. Meaning of Work Study This is a science of sitting up standard time of job & discovering the best … [Read more...] about Meaning of Work Study – Definition and Objectives
Recruitment Scenario in Context of Bangladesh
Recruitment Scenario in the Context of Bangladesh One of the weakest areas of Bangladeshi organization is recruitment. It goes without any solid principle, guidelines or proper organization. The supply of qualified & trained human power is also subtle. Very few organizations have any training facilities. Recruitment without any principle accompanied with little supply of … [Read more...] about Recruitment Scenario in Context of Bangladesh
Quality Circle and Productivity
Quality Circle and Productivity. Quality circle as a method was developed & introduced in Japan by Dr. Kaoru Ishikawa who has gone into history as the father of Quality Circle. Since inception in 1962 in Japan, it has become a very popular & effective tool of quality and productivity improvement. Quality Circle and Productivity Quality Circle Meaning Quality … [Read more...] about Quality Circle and Productivity
Group Work, Flexible Layout and Productivity
Group Work, Flexible Layout and Productivity. Work-study & Henry Ford’s mass production line based on the division of labor worked miracle for a few decades. But with time the division of labor implying assigning a simple repetitive task to operators started showing its ugly face. Group Work, Flexible Layout and Productivity Monotony in doing the same job day in and day … [Read more...] about Group Work, Flexible Layout and Productivity
Making Your Organization or Factory an Ideal One
Making your organization or factory an ideal one. An ideal organization or factory is the which one, which can conveniently produce high-quality products or provide the best service at higher productivity and competitively lower cost and thus achieves the organizational goal through consistent customer satisfaction, employee empowerment and social responsibility. Organization … [Read more...] about Making Your Organization or Factory an Ideal One
Critical Success Factors Examples
Critical Success Factors Examples: Critical success factor (CSF) is a management term for an element that is necessary for an organization or project to achieve its mission. To achieve the goals they need to be aware of each key success factor (KSF) and the variations between the keys and the different roles key result area (KRA). [ Source- Wikipedia ] Critical Success … [Read more...] about Critical Success Factors Examples