explain the following
(a) Principle of critical point control
(b) Fringe benefits
(c) Employees Empowerment
Answers
Answer:
Principle of critical-point control': It refers to that concept of management which holds only important activities instead of all activities, the management should focus its attention on.
fringe benefits are basic items often included in hiring packages. These include health insurance, life insurance, tuition assistance, childcare reimbursement, cafeteria subsidies, below-market loans, employee discounts, employee stock options, and personal use of a company-owned vehicle.
Employee empowerment is a management philosophy that emphasizes the importance of allowing employees to make independent decisions and act on them. For employees to feel like their decisions matter, they need to feel accountable for the decisions they make on a regular basis. ...
Hey mate here is your answer ;
(i) Principal Critical point control:
It means keeping focus on some key areas (KRAs) and if there is any deviation in these key areas, and then it must be attended urgently. Key areas are those which have impact on whole organisation. For example, if there is increase in production cost by Rs 5, per unit and there is increase in postal cost by Rs 20, then more focus should be to find out reasons for increase in cost of production as it will affect the profit and future revenue of organisation whereas postal cost is incurred rarely and managers have no control over postal cost.
(ii) Fringe benifits:
Some of the most common examples of fringe benefits are health insurance, workers’ compensation, retirement plans, and family and medical leave. Less common fringe benefits might include paid vacation, meal subsidization, commuter benefits, and more. Many companies offer a combination of both common and uncommon benefits to help attract new hires and keep current employees satisfied.
(iii) Employees Empowerment :
The term empowerment refers to measures designed to increase the degree of autonomy and self-determination in people and in communities in order to enable them to represent their interests in a responsible and self-determined way, acting on their own authority.” “ It is the process of becoming stronger and more .
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