KARL MARX AND CLASS CONFLICTS

Karl's works revolves around politics, economics and society. He is constructed as one of the most prolific social thinkers of the 19th century and his work has great influence on social evolution. He believed that the evolution of the society is driven by class conflicts, which manifests…

OWNERSHIP OF PROPERTY

Connotes a complete and total right over a property. The owner of the property is not subject to the right of another person. Because he is the owner, he has the full and final right of alienation or disposition of the property, and he exercises his right…

UNITY OF COMMAND

Unity of command means that no employee should be subject to orders of more than one immediate superior. If he is, he might receive conflicting orders from them and his position may become an impossible one. Diversity of command may also result in the subordinates playing off…

CONTINGENCY STRATEGY

Every corporate organisation has a strategy with which it intends to penetrate the market or gain a competitive advantage. However, at times the organization may find that the strategy is unworkable either due to changed business environment caused by government policies etc. the corporation may have to…

WRONGFUL DISMISSAL

A wrongful dismissal is an unjustifiable dismissal of a servant by the master from an engagement for services for a fixed time or, if upon notice, before the expiration of the period of notice. The servant may elect to treat the contract as repudiated or if he…

REDUNDANCY

In the rudiments of employment law, redundancy - also referred to as retrenchment - arises when an employer discharged surplus labour. The surplus may arise out of a sluggish demand for the products or services of the company, lack of raw materials and spares to continue production,…

BENCHMARKING

This is a systemic process of comparing the activities and work processes of an organization or department with those of outstanding departments or organizations in order to identify ways to improve performance. Types of benchmarking include internal benchmarking; a method of comparing one operating unit with another…

UNIQUE SELLING PREPOSITION

A unique selling preposition is a description of the qualities that are unique to a particular product or services and that differentiates it in a way which makes customers purchase it rather than its rivals. Marketing experts used to insist that every product and service had to…

VALUE ENGINEERING

Value engineering is a systemic method of improving the value of goods and services of a firm by examination of function. The acid test is whether any negative or positive effect will be felt by eliminating some processes. Essentially therefore, value engineering aims to identify and reduce…

WORKFLOW

The workflow consists of   a methodological sequencing of operations, the work of a person, or group, or the work of an organization of staff. Correspondingly, a workflow consists of a well-orchestrated and repeatable pattern of activities that provides services and information from one level to the other…

EMPLOYABILITY

This is the potential for obtaining and keeping fulfilling work through the development of skills that are transferable from one employer to another. Employability is also affected by the market demand for a particular set of skills and by personal circumstances. Employees may take responsibility for developing…

CASH MANAGEMENT

Cash is one of the most important current asset for the operations of the business. In other words, cash is the basic IMPUT to keep the business running on a continuous basis. On the OUTPUT side, it is also the ultimate output expected to be realized by…