Group decision making is a type of participatory process in which multiple individuals acting collectively, analyze problems or situations, consider and evaluate alternative courses of action, and select from among the alternatives a solution or solutions. The number of people involved in group decision-making varies greatly, but often ranges from two to seven.
A group can be defined as several individuals who come together to accomplish a particular task or goal. Group dynamics refers to the attitudinal and behavioral characteristics of a group.
Handheld computers—also known as personal digital assistants (PDAs)—are small, portable devices that offer users many of the same features and capabilities as desktop computers at a fraction of the size. Although the terms "handheld computer" and "PDA" are often used interchangeably, handhelds tend to be larger and feature miniature keyboards, while PDAs tend to be smaller and rely on a touch screen and stylus for data entry.
A health savings account (HSA) is an investment vehicle from which individuals can withdraw funds to pay qualified medical expenses as defined by the Internal Revenue Code. Accumulated funds can be used to pay current medical expenses or can be saved for medical expenses incurred in the future.
Human Resource Information Systems (HRIS) have become one of the most important tools for many businesses. Even the small, 20-person office needs to realize the benefits of using HRIS to be more efficient.
Human resource management (HRM), also called personnel management, consists of all the activities undertaken by an enterprise to ensure the effective utilization of employees toward the attainment of individual, group, and organizational goals. An organization's HRM function focuses on the people side of management.
Social science research, and by extension business research, uses a number of different approaches to study a variety of issues. This research may be a very informal, simple process or it may be a formal, somewhat sophisticated process.
The income statement is one of the three major financial statements that all publicly held firms are required to prepare annually. It provides a record of a company's revenues and expenses for a given period of time, and thus serves as the basic measuring stick of profitability.
Most definitions of industrial relations acknowledge that industrial relations involves the complex interplay among management, workers and their representatives, and the government. Each of these three players has different needs and goals that determine how they interact with the other two parties.
An initial public offering (IPO) is the process through which a privately owned business sells shares of stock to the public for the first time. Also known as going public, an IPO provides a growing business with access to public capital markets and increases its credibility and exposure.
Innovation is the act of developing a new process or product and introducing it to the market. It is essentially an entrepreneurial act, whether it takes place in a start-up firm, a large organization, a not-for-profit, or a public-sector agency.
Instant messaging (IM) is a general term encompassing a variety of software applications that enable users to have real-time text conversations, play turn-based games, and share pictures, music, and data files over the Internet. IM software allows users to maintain a list of contactsgmdash;sometimes referred to as a buddy list—with whom they can exchange messages whenever both parties are online.
Intellectual property is a term used to cover goods and services protected under the laws governing patents, trademarks, copyrights, and trade secrets. Although the legal rights concerning different kinds of intellectual property are similar in a general sense, they differ specifically in what they protect and in how the particular rights are established.
The Institute of Internal Auditors (2005) defines internal auditing as "…an independent, objective assurance and consulting activity designed to add value and improve an organization's operations.
Today, business is acknowledged to be international and there is a general expectation that this will continue for the foreseeable future. International business may be defined simply as business transactions that take place across national borders.
Culture in a global economy is a critical factor in international business. While many business transactions make economic sense, the ability to successfully fulfill profitable relationships often depends on being able to reconcile international differences arising from separate cultures.
During the 1990s and early 2000s, many companies took advantage of a world market that was increasingly open to international expansion and trade. Obstacles to free trade were eased through the General Agreement on Tariffs and Trade (GATT), the North American Free Trade Agreement (NAFTA), and the Association of South East Asian Nations (ASEAN).
One of the most noteworthy developments in business in the second half of the twentieth century was the rise of the professional business manager. Whereas previously individuals with a wide range of training, usually including experience in a given business, rose to management positions within corporations, in the present managers are often graduates of general business administration and related programs.
The International Monetary Fund, widely known as the IMF, is an international cooperative institution headquartered in Washington, D.C., whose main mission is to promote and assist in international monetary stability. With its initial organization coming at the end of World War II, for many years the main goal of the IMF was to oversee a system of stable, fixed exchange rates among the currencies of member nations.