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Different between Microeconomics and Macroeconomics

Microeconomics Microeconomics is the social science that studies individual actions of human and businesses. Specially, it studies consumer behavior and how they affect the utilization and distribution of scare resources. Briefly, it studies about human choices and individual markets. In addition to that, microeconomics focuses on the demand and supply that decide price levels of […]

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What is Job Analysis?

In the previous lesson I was capable of discussing What is Job Design, the significance of Job Design, techniques of Job Design and ultimately elements of Job Design. Nowhere, I am going to enter to another specific area of Human Resource Management. Job analysis is a primary function of Human Resource Management as it produces […]

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Elements of Job Design

There are two types of elements of job design as described below. 01. Efficiency Elements This includes division of labor, specialization and standardization. Mainly efficiency elements focus on improving the productivity of the employee.   02. Behavioral Elements This is the opposite of the above-mentioned efficiency elements. This focuses on increasing the job satisfaction and […]

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What is job design?

The principle function that has to be performed by the organization to achieve it’s primary goal cannot be done by one individual because of lack of time, energy and competence or all these. As a result, the principle function has to be divided into individual assignments. This is the reason for creating jobs. Indeed, job […]

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Types of market research

Before starting market research, you should have an idea on that  and why it is important. When you begin market research, you will likely here about the research types called primary and secondary. When it comes to basic definitions on primary research and secondary research, primary research is the type of market research which gather […]

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E-commerce definition

E-commerce is the buying and selling of products (goods & services) over the internet. There are two sectors of the E-commerce. 1. Indirect E-commerce   Ordering goods & services over the internet obtain them physically by traditional  channels like mail or courier. 2. Direct E-commerce Ordering goods & services over the internet and consume them […]

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Core concepts of Marketing

According to Philip Kotler, the eminent writer & the father of modern marketing defines marketing as “A social and managerial process by which individuals and group obtain what they need and want through creating and exchanging products and value with others”.    In fact, with detailed analysis of this definition depicts some core concepts of […]

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Introduction to Human Resource Management

Definition of Human Resource Management Human Resource Management is the combination of activities which is regarding the efficient and effective utilization of human resource with the purpose of achieving organizational goals and objectives. According to the above definition of HRM, Efficient utilization of HRM is: The optimum utilization of employee by eradicating or minimizing wastage. […]

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