The Juran Trilogy, also called Quality Trilogy, was presented by Dr. Joseph M. Juran in 1986 as a means to manage for quality. The traditional…

Henri Fayol (1841–1925), via his work and writings, such as Fayol’s 14 Principles of Management (1888) and Administration Industrielle et Generale, was the first to…

Price is the value assigned to a good or service and is determined by a complicated series of calculations, research, and risk-taking skills. A pricing…

It became clear during the Industrial Revolution that corporate operations needed to shift significantly. While most people agreed that change was inevitable, early proponents of…

The methods managers use to create and carry out strategies are known as modes of strategic management. They deal with the questions of who has…

The study of a population-based on characteristics like age, race, and sex is known as demographic analysis. Socioeconomic information expressed statistically, such as employment, education,…

A worker reports to a manager. A manager reports to a director, a director reports to a vice president, and a vice president reports to…

Total quality management (TQM) is the ongoing process of identifying and minimizing or eliminating production defects, optimizing the supply chain, enhancing the customer experience, and…

The Fixed Order Quantity is an inventory control system that allows for maximum and minimum inventory levels to be fixed. When the inventory level hits…

Human resource management (HRM) is the process of hiring individuals, providing them with the necessary training and compensation, creating policies pertaining to them, and creating…