Hence, there are two major ways to increase productivity: increase the numerator (output) or decrease the denominator (input). Of course, a similar effect would be seen if both input and output increased, but output increased faster than input; or if input and output decreased, but input decreased faster than output.
"Information was once a sought-after and treasured commodity like a fine wine. Now, it's regarded more like crabgrass, something to be kept at bay," observes Richard Saul Wurman in his book Information Anxiety2.
Profit sharing is an organizational incentive plan whereby companies distribute a portion of their profits to their employees in addition to prevailing wages. Profit sharing can generate benefits to the company by fostering greater employee cooperation, reducing labor turnover, raising productivity, cutting costs, and providing retirement security.
Program Evaluation and Review Technique (PERT) and Critical Path Method (CPM) are tools widely used in project scheduling. Both are based on network diagrams applicable for both the planning and control aspects of production.
Project management is the application of relevant logic and tools to planning, directing, and controlling a temporary endeavor. While some organizations specialize in projects, others may require project management skills only occasionally to effect a change, either physical or sociological in nature, from the norm.
Purchasing and procurement is used to denote the function of and the responsibility for procuring materials, supplies, and services. Recently, the term "supply management" has increasingly come to describe this process as it pertains to a professional capacity.
The Quality Gurus—Dr. W.
Although quality and quality management does not have a formal definition, most agree that it is an integration of all functions of a business to achieve high quality of products through continuous improvement efforts of all employees. Quality revolves around the concept of meeting or exceeding customer expectation applied to the product and service.
In today's high tech, fast-paced world, the work environment is very different than it was a generation ago. According to the Institute of Industrial Engineers, it is not uncommon for a person to change careers an average of six times in his or her lifetime.
Workplace change occurs rapidly and often in many businesses. This change may take place in order to respond to a new opportunity or to avoid a threat to the company.
Reinforcement theory is the process of shaping behavior by controlling the consequences of the behavior. In reinforcement theory a combination of rewards and/or punishments is used to reinforce desired behavior or extinguish unwanted behavior.
In any organization, managers at all levels need accurate and timely information for managerial decision making. Whether the decisions made are at technical, tactical, or strategic levels, good, accurate, and timely information always leads to a better decision.
Employment is the goal of applying for a position. The applicant has specific tools that should be used to achieve this desired goal.
Consumer awareness, enhanced by legally imposed green law constraints, have lead to the need for safe return of products from the field as well as more environmentally friendly products. As a result, logistics planning must now consider both forward and return flows of products, parts, subassemblies, scrap and containers.
Risk management is a systematic process of identifying and assessing company risks and taking actions to protect a company against them. Some risk managers define risk as the possibility that a future occurrence may cause harm or losses, while noting that risk also may provide possible opportunities.
Today's manufacturers in numerous industries are gaining rapid increases in productivity by taking advantage of automation technologies. One of these automation technologies, robotics, is a key factor leading the way in the twenty-first century.
Organizational strategies are the means through which companies accomplish their missions and goals. Successful strategies address four elements of the setting within which the company operates: (1) the company's strengths, (2) its weaknesses, (3) the opportunities in its competitive environment, and (4) the threats in its competitive environment.
One of the biggest issues facing employers today is the safety of their employees. Workplace accidents are increasingly common.
In today's global marketplace, managers face many challenges related to fulfilling the customer's ever-changing needs and expectations. The concept of customer service has recently become more complex as a result of globalization of goods and services.