|
Managerial Prerogative
Managerial prerogatives, also described as the functions and rights of management, represent the scope of business managers' unilateral authority to conduct their business, unhindered by interference by employees, trade unions or the law. In the context of trade unions, a reference to managerial prerogatives may be used to describe unilateral management power. When used by management, it generally references an exclusive right and control right without interference. Managerial prerogative content Managerial prerogative is that employers and managers can freely supervise according to their own judgments. Its effective exercise includes recruitment, employment, job distribution, job supervision, working methods, working hours, employee rules and regulations, employee supervision, employee transfer, employee sanctions, layoffs, employee dismissals, employee recalls, and other employment matters. Its limitation lies in the policies, rules and regulations of different countries so t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Trade Unions
A trade union (British English) or labor union (American English), often simply referred to as a union, is an organization of workers whose purpose is to maintain or improve the conditions of their employment, such as attaining better wages and Employee benefits, benefits, improving Work (human activity), working conditions, improving safety standards, establishing complaint procedures, developing rules governing status of employees (rules governing promotions, just-cause conditions for termination) and protecting and increasing the bargaining power of workers. Trade unions typically fund their head office and legal team functions through regularly imposed fees called ''union dues''. The union representatives in the workforce are usually made up of workplace volunteers who are often appointed by members through internal democratic elections. The trade union, through an elected leadership and bargaining committee, bargains with the employer on behalf of its members, known as t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Professional Ethics
Professional ethics encompass the personal and corporate standards of behavior expected of professionals. The word professionalism originally applied to vows of a religious order. By no later than the year 1675, the term had seen secular application and was applied to the three learned professions: Divinity (academic discipline), divinity, law, and medicine. The term professionalism was also used for the military profession around this same time. Professionals and those working in acknowledged professions exercise specialist knowledge and skill. How the use of this knowledge should be governed when providing a service to the public can be considered a moral issue and is termed "professional ethics". One of the earliest examples of professional ethics is the Hippocratic oath to which medical physician, doctors still adhere to this day. Components Some professional organizations may define their ethical approach in terms of a number of discrete components. Typically these incl ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Risk Management
Risk management is the identification, evaluation, and prioritization of risks, followed by the minimization, monitoring, and control of the impact or probability of those risks occurring. Risks can come from various sources (i.e, Threat (security), threats) including uncertainty in Market environment, international markets, political instability, dangers of project failures (at any phase in design, development, production, or sustaining of life-cycles), legal liabilities, credit risk, accidents, Natural disaster, natural causes and disasters, deliberate attack from an adversary, or events of uncertain or unpredictable root cause analysis, root-cause. Retail traders also apply risk management by using fixed percentage position sizing and risk-to-reward frameworks to avoid large drawdowns and support consistent decision-making under pressure. There are two types of events viz. Risks and Opportunities. Negative events can be classified as risks while positive events are classifi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Property
Property is a system of rights that gives people legal control of valuable things, and also refers to the valuable things themselves. Depending on the nature of the property, an owner of property may have the right to consume, alter, share, rent, sell, exchange, transfer, give away, or destroy it, or to exclude others from doing these things, as well as to perhaps abandon it; whereas regardless of the nature of the property, the owner thereof has the right to properly use it under the granted Property rights (economics), property rights. In economics and political economy, there are three broad forms of property: private property, public property, and collective property (or ''cooperative propert''y). Property may be jointly owned by more than one party equally or unequally, or according to simple or complex agreements; to distinguish ownership and easement from rent, there is an expectation that each party's will with regard to the property be clearly defined and unconditional ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Capital Asset
A capital asset is defined as property of any kind held by an assessee. It need not be connected to the assesse’s business or profession. The term encompasses all kinds of property, movable or immovable, tangible or intangible, fixed or circulating. Land and building, plant and machinery, motorcar, furniture, jewellery, route permits, goodwill, tenancy rights, patents, trademarks, shares, debentures, mutual funds, zero-coupon bonds are some examples of what is considered capital assets. Excluded from the definition # Any stocks in trade, consumable stores, or raw materials held for the purpose of business or profession have been excluded from the definition of capital assets. # Any movable property (excluding jewellery made out of gold, silver, precious stones, and drawing, paintings, sculptures, archeological collections, etc.) used for personal use by the assessee or any member (dependent) of assessee's family is not treated as capital assets. ''For example'', wearing appa ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Efficiency (economics)
In microeconomics, economic efficiency, depending on the context, is usually one of the following two related concepts: * Allocative or Pareto efficiency: any changes made to assist one person would harm another. * Productive efficiency: no additional output of one good can be obtained without decreasing the output of another good, and production proceeds at the lowest possible average total cost. These definitions are not equivalent: a market or other economic system may be allocatively but not productively efficient, or productively but not allocatively efficient. There are also other definitions and measures. All characterizations of economic efficiency are encompassed by the more general engineering concept that a system is efficient or optimal when it maximizes desired outputs (such as utility) given available inputs. Standards of thought There are two main standards of thought on economic efficiency, which respectively emphasize the distortions created by ''govern ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Unfair
Unfair may refer to: * The negative form of the adjective ''fair''; unfairness or injustice * ''Unfair'' (drama), Japanese television series * '' Unfair: The Movie'' * "Unfair" (song) by Exo * "Unfair, a song by Stray Kids from their mixtape '' Hop'' {{Disambig ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Manager's Right To Manage
Managerial prerogatives, also described as the functions and rights of management, represent the scope of business managers' unilateral authority to conduct their business, unhindered by interference by employees, trade unions or the law. In the context of trade unions, a reference to managerial prerogatives may be used to describe unilateral management power. When used by management, it generally references an exclusive right and control right without interference. Managerial prerogative content Managerial prerogative is that employers and managers can freely supervise according to their own judgments. Its effective exercise includes recruitment, employment, job distribution, job supervision, working methods, working hours, employee rules and regulations, employee supervision, employee transfer, employee sanctions, layoffs, employee dismissals, employee recalls, and other employment matters. Its limitation lies in the policies, rules and regulations of different countries so t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Plenipotentiary
A ''plenipotentiary'' (from the Latin ''plenus'' "full" and ''potens'' "powerful") is a diplomat who has full powers—authorization to sign a treaty or convention on behalf of a sovereign. When used as a noun more generally, the word can also refer to any person who has full powers. As an adjective, it describes something which confers full powers, such as an edict or an assignment. Diplomats Before the era of rapid international transport or essentially instantaneous communication (such as telegraphy in the mid-19th century and then radio), diplomatic mission chiefs were granted full (plenipotentiary) powers to represent their government in negotiations with their host nation. Conventionally, any representations made or agreements reached with a plenipotentiary would be recognized and complied with by their government. Historically, the common generic term for high diplomats of the crown or state was ''minister''. It therefore became customary to style the chiefs of full ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
General Manager
A general manager (GM) is an executive who has overall responsibility for managing both the revenue and cost elements of a company's income statement, known as profit & loss (P&L) responsibility. A general manager usually oversees most or all of the firm's marketing and sales functions as well as the day-to-day operations of the business. Frequently, the general manager is responsible for effective planning, delegating, coordinating, staffing, organizing, and decision making to attain desirable profit making results for an organization. In many cases, the general manager of a business is given a different formal title or titles. Most corporate managers holding the titles of chief executive officer (CEO) or president, for example, are the general managers of their respective businesses. More rarely, the chief financial officer (CFO), chief operating officer (COO), or chief marketing officer (CMO) will act as the general manager of the business. Depending on the company, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Management
Management (or managing) is the administration of organizations, whether businesses, nonprofit organizations, or a Government agency, government bodies through business administration, Nonprofit studies, nonprofit management, or the political science sub-field of public administration respectively. It is the process of managing the resources of businesses, governments, and other organizations. Larger organizations generally have three Hierarchy, hierarchical levels of managers, organized in a pyramid structure: * Senior management roles include the board of directors and a chief executive officer (CEO) or a President (corporate title), president of an organization. They set the strategic goals and policy of the organization and make decisions on how the overall organization will operate. Senior managers are generally executive-level professionals who provide direction to middle management. Compare governance. * Middle management roles include branch managers, regional managers, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Johnstone V Bloomsbury Health Authority
''Johnstone v Bloomsbury Health Authority'' 992QB 333 is an English contract law case, concerning implied terms and unfair terms under the Unfair Contract Terms Act 1977. Facts Dr Chris Johnstone was a junior doctor in the Obstetric Department at the University College Hospital. According to para 4(b) of his contract, he was expected to be available on call for 48 hours a week on average, on top of his 40-hour contract. His first claim was that it was a breach of the duty of care to have a contract which could cause foreseeable injury. His alternative claim was that the clause allowing him to be so long on call was contrary to the Unfair Contract Terms Act 1977 section 2(1). Stephen Sedley QC represented Dr Johnstone. Judgment The Court of Appeal held that Bloomsbury Health Authority had to pay damages for the harm to Dr Johnstone's health, and by a majority based this decision on the common law, but for different reasons. Stuart-Smith LJ held that an implied term in law ca ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
