Management Glossary » Management

Inventory Control – Definition, Importance, Example, Tips and Methods

What is Inventory Control? Definition – Inventory control is the process of planning, coordinating, and controlling all aspects of your company’s inventory or stock including but not limited to: buying inventory, leasing inventory, acquiring goods/warehouse space (if needed), purchasing goods such as trucks, caravans, industrial equipment and raw materials (if …

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Management Glossary » Management

Capacity Planning – Definition and Importance

What is Capacity Planning? Capacity planning is the process of determining how much capacity an organization needs to meet changing demands for its products. It allows organizations to plan ahead and anticipate customer demand. It also involves establishing effective coordination among multiple departments within an organization. Capacity planning is especially …

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Management Glossary » Management

The Importance of Leadership

Leaders Helping Subordinates

Leadership is Important because it helps to keep an organization flowing smoothly and efficiently through various activities. There are times in every organization when leadership is required. Organizational mobility is made possible through effective leadership. The importance of leadership in society is not a recent discovery. It has been observed …

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Management Glossary » Management

360 Degree Feedback

360 Degree Feedback

360-degree feedback process or multi-rater feedback refers to a feedback process in which employees receive feedback from peers, seniors, superiors, subordinates, direct reports, customers, etc to understand how others perceive a particular employee. – That is why the name 360-degree review or 360 feedback All the associated members with whom …

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