Management

Absenteeism refers to the habitual absence of an employee from work. This absence is often unplanned and can be due to various reasons such as illness, personal issues, or lack of motivation. Chronic absenteeism can significantly affect the productivity and morale of a workplace. Causes of Absenteeism Personal Health Issues Work Environment Personal Responsibilities Lack

Absolute Cost Advantage refers to the ability of a country, company, or individual to produce a good or service more efficiently and at a lower cost than others. This means they can produce the same amount of goods or services using fewer resources or produce more with the same resources compared to competitors. Importance of

Absolute Performance Standard refers to a specific level of performance that is set as a benchmark to achieve, regardless of other variables or conditions. This standard is fixed and does not change based on the performance of others or external factors. It serves as a clear, measurable goal for individuals or organizations to strive towards.

Achievement Motivation Theory explores how individuals are motivated to achieve success and strive for excellence in their endeavors. It examines the psychological factors that drive people to set and pursue goals, aiming to understand what fuels their ambition and determination. Key Concepts of Achievement Motivation Theory 1. Definition: 2. Types of Achievement Motivation: Theories and

The Acquisition-Development-Retention (ADR) strategy is a framework used by businesses to manage customer relationships through three key stages: acquiring new customers, developing relationships with them, and retaining them over the long term. This strategy emphasizes the importance of not only gaining new customers but also nurturing existing ones to foster loyalty and maximize lifetime value.

An active partner in a business refers to a member of a partnership who is actively involved in the day-to-day operations and management of the business. Unlike silent or sleeping partners, active partners contribute not only capital but also time, effort, and expertise to the partnership’s activities. Definition and Characteristics of Active Partners 1. Definition:

Activity-Based Management (ABM) is a strategic approach used by businesses to improve operational efficiency and profitability by analyzing activities and their associated costs. Unlike traditional cost accounting methods that allocate costs based on broad averages, ABM focuses on identifying and managing activities that drive costs within an organization. It helps companies allocate resources more effectively,

Ad Hocracy, sometimes spelled as “adhocracy,” is a term used to describe a flexible organizational structure where decision-making and operations are based on the immediate needs of specific situations rather than following predefined rules or hierarchical structures. Unlike traditional hierarchical organizations, ad hocracy emphasizes adaptability, creativity, and quick responses to changing circumstances. Characteristics of Ad

An administered strategic alliance refers to a collaborative agreement between independent organizations or entities, where one partner takes a dominant or leading role in coordinating joint activities and leveraging combined resources towards achieving strategic objectives. Unlike other types of alliances where partners share responsibilities equally, in an administered strategic alliance, one party assumes leadership while