The essence of management is making decisions. Managers are constantly required to evaluate alternatives and make decisions regarding a wide range of matters.
Decision support systems (DSS) are computer information systems that perform complex data analysis in order to help users make informed decisions. In general, a DSS retrieves information from a large data warehouse, analyzes it in accordance with user specifications, then publishes the results in a format that users can readily understand and use.
Delegation is the process of giving decision-making authority to lower-level employees. For the process to be successful, a worker must be able to obtain the resources and cooperation needed for successful completion of the delegated task.
Deregulation refers to the deletion, abandonment, or relaxation of various laws, rules, and regulations that affect business and industry. However, the topic of deregulation is best understood by first understanding the purposes and effects of regulations.
Discrimination, in an employment context, can be generally defined as treating an individual or group less well in recruiting, hiring, or any other terms and conditions of employment due to the person's or group's race, color, sex, religion, national origin, age, disability, or veteran's status. These categories are referred to as protected classifications because they are singled out for protection by equal employment opportunity (EEO) laws.
A supply channel is composed of three structures. At one end of the channel is the manufacturer.
Diversification strategies are used to expand firms' operations by adding markets, products, services, or stages of production to the existing business. The purpose of diversification is to allow the company to enter lines of business that are different from current operations.
The advent of equal employment opportunity (EEO) laws and affirmative action programs created new employment opportunities for members of protected groups that had previously been victimized by employment discrimination. The demographic mix within the twenty-first century workplace has consequently become much more diverse because many workers now entering the workforce are neither white, male, nor English speaking.
Divestment is a form of retrenchment strategy used by businesses when they downsize the scope of their business activities. Divestment usually involves eliminating a portion of a business.
Management societies and associations exist to promote greater professionalism within the field and provide educational opportunities for their members. Many societies and associations exist within the field of management.
Downsizing refers to the permanent reduction of a company's workforce and is generally associated with corporate reorganization, or creating a "leaner, meaner" company. For example, the database developer Oracle Corporation reduced its number of employees by 5,000 after acquiring rival PeopleSoft.
In the area of workplace safety, employers have a responsibility to exercise due diligence in eliminating hazards and creating a work environment that minimizes the risk of accidents or injuries. In fact, due diligence is the legal standard used to determined whether employers can be held liable under occupational health and safety laws.
The U.S. economic census provides information about the structure and function of the nation's economy, from the national level to the local level, every five years.
The study of economics leads to the formulation of the principles upon which the economy is based. History, politics, and the social sciences cannot be understood without the basic understanding of economic principles.
Economies of scale are reductions in average costs attributable to production volume increases. They typically are defined in relation to firms, which may seek to achieve economies of scale by becoming large or even dominant producers of a particular type of product or service.
Efficiency and effectiveness were originally industrial engineering concepts that came of age in the early twentieth century. Management theorists like Frederick Taylor and Frank and Lillian Gilbreth designed time and motion studies primarily to improve efficiency.
Electronic commerce consists of the buying and selling of products and services via the Internet. It includes business-to-business, business-to-consumer, and consumer-to-consumer transactions.
Electronic data interchange (EDI), or electronic data processing, is the electronic transmission of data between computers in a standard, structured format. Electronic funds transfer (EFT) is the term used for electronic data interchanges that involve the transfer of funds between financial institutions.