by TheBusinessProfessor | Feb 23, 2025 | Management, Leadership, & Organizational Behavior
[cite] Back to: Management & Organizational Behavior What is Inductive Reasoning? Inductive reasoning concerns drawing or reaching a generalized conclusion based upon observation or awareness of specific instances. It necessarily involves assumptions concerning...
by TheBusinessProfessor | Feb 23, 2025 | Management, Leadership, & Organizational Behavior
[cite] Back to: Management & Organizational Behavior What is Deductive Reasoning? Deduction means to deduce from. More specifically, it means inferring things and possibly arriving at a conclusion based upon generally are universally accepted premises (statements...
by TheBusinessProfessor | Feb 23, 2025 | Management, Leadership, & Organizational Behavior
[cite] Back to: Business Management What is Design Thinking? Design thinking is the cognitive process associated with new concept development. It looks at problems collaboratively to garner a deeper understanding. The objective of design thinking is to address...
by TheBusinessProfessor | Feb 23, 2025 | Management, Leadership, & Organizational Behavior
[cite] Back to: Business Management What are Quality Circles? Quality circles are a Japanese quality management process developed by Kaoru Ishikawa. This approach serves quality control, process improvement, and motivational functions. The approach calls for the...
by TheBusinessProfessor | Feb 23, 2025 | Operations, Project, & Supply Chain Management
[cite] Back to: OPERATIONS, LOGISTICS, & SUPPLY CHAIN MANAGEMENT What is the 5S Method of Business Process Management? The 5S Method is an approach to creating efficiency in workplace processes and activities. It is primarily used as part of business process...
by TheBusinessProfessor | Feb 23, 2025 | Management, Leadership, & Organizational Behavior
[cite] Back to: Business Management What is Business Process Management? Process management is the coordination of activities and processes within an organization. Managers organize and schedule these activities in accordance with the organizational structure and...
by TheBusinessProfessor | Feb 23, 2025 | Banking, Lending, and Credit Industry
[cite] Back to:BANKING, LENDING, & CREDIT INDUSTRY Banking And Securities Industry Committee (BASIC) The Banking and Securities Industry Committee (BASIC) was established in 1970 to act as an oversight committee in the settlement of securities and formulate rules...
by TheBusinessProfessor | Feb 23, 2025 | Banking, Lending, and Credit Industry
[cite] Back to: BANKING, LENDING, & CREDIT INDUSTRY Applicable Federal Rate (AFR) The applicable federal rate (AFR) refers to the minimum interest rate that is permissible on private loans by the Internal Revenue Service (IRS). AFR serves as the minimum market...
by TheBusinessProfessor | Feb 23, 2025 | Operations, Project, & Supply Chain Management
[cite] Back to: OPERATIONS, LOGISTICS, & SUPPLY CHAIN MANAGEMENT Just-In-Case Inventory Management Just in case (JIC) is an inventory management strategy in which a company stores a large inventory to prevent running out of stock. It is most useful when a company...
by TheBusinessProfessor | Feb 23, 2025 | Management, Leadership, & Organizational Behavior
[cite] Back to: Business Management Organizing a Team After designing a team, it should be organized to maximize efficiency and effectiveness. Some of the common elements for organizing or managing a team include. Establish Roles – After selecting members of the...
