Fair Wages
Fair Wages: It is the wage, which is above the minimum wage but below the living wage. Thus the lower limit of the fair wage…
Fair Wages: It is the wage, which is above the minimum wage but below the living wage. Thus the lower limit of the fair wage…
Minimum Wages: Wages, which are need-based and statutorily decided both by the Central and the State Government. Payment of minimum wages is obligatory for the…
Performance management system: Performance management system refers to the combination of performance goals and a pay for performance plan.
Job Description: This process helps to give a title to a job, considering the conditions, tasks and responsibilities involved and qualities required for a job.
Exchange Value: The properties, which enable the owner to exchange it for anything else, if, he so desires in future.
Cost Value: The cost required to produce the item.
Esteem Value: Aesthetic features or properties which attract a customer to own it.
Use Value: The properties and qualities which are useful and which enable to accomplish the work. Use Value again may be either for primary use,…
Value Engineering: It is an organized creative technique to analyze functions of a product or service or a system.
Performance Improvement: It is any effort targeted at closing the gap between actual results and desired results.
Performance Problem: A performance problem is any gap between desired results and actual results.
Integrated Business Planning: Integrated Business Planning (IBP) refers to the technologies, applications and processes of connecting the planning function across the enterprise to improve organizational…
Operation Performance Management: Operational Performance Management (OPM) focuses on creating methodical and predictable ways to improve business results, or performance, across organizations.
Business Performance Management: Business Performance Management (BPM) is a set of processes that help businesses discover efficient use of their business units, financial, human and…