Business Process Management (BPM) is a disciplined approach to improving the efficiency, effectiveness, and agility of business processes.
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A production system in which production operations are mainly done by machinery and equipment. A larger proportion of capital input is used in the production process.
Enterprise Resource Planning (ERP) uses a company-wide computer software system to manage resources. The use of a single computer application.
A production system in which production operations are mainly done by workers themselves. A larger proportion of labor input is used in the production process.
Customer Relationship Management (CRM) refers to using various marketing activities for the purpose of establishing successful relationships with customer.
Excess capacity exists when the current levels of demand for a business’s products are less than the full production capacity of a business.
Capacity shortage exists when the current levels of demand for a business’s products are more than the full production capacity of a business.
Productivity is a relative measure of how efficiently the inputs are changed into output - the ratio of outputs to inputs in a production process.
Capacity in business is the maximum output that a business can produce in a given period with the available resources within an organization.
The quality and effectiveness of management are important determinants of operational efficiency of a business organization.
Efficiency means productivity. It is about the management of resources, using machinery, making people work harder, processes and people altogether.
Traditional working patterns based around the 9-to-5 job have become less common. There is a shift towards new types of employment.
The HR management function not only focuses on the current business environment, but it also must consider changing employment patterns.
Workers are protected by law not to be dismissed from their job without appropriate reason. Otherwise, this would be considered unfair dismissal.
A business will sometimes need to reduce its workforce size. Cutting back the workers is often done in order to improve business efficiency.
Maintaining high staff morale and welfare can show caring attitude of the business towards its workforce. Let's take a look at more details.