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PRODUCTIVITY OR EFFICIENCY-ORIENTED DEFNITIONS
F.W.Taylor, who is called the father of scientific management, explain management as "the art of knowing what you need to do and then seeing that it is done in the best and cheapest way." He asserted that management having of 75%analysis and 25% common sense.
The major object of management is to be to secure the maximum use of men and machines and bring material prosperity. These point out the capital bias of managers and ignore the' human side' of management
Five Forces Model A framework built by Michael Porter that captures the dynamics of the prevailing environmental forces in which an organization operates. These factors i
system view of production and operation management
1. Briefly explain the monitoring, measuring, and adjusting components of the strategic planning process. The strategic plan are designed based on the predictions and assumptions,
Hard Currency Hard currencies can be exchanged for other hard currencies at a designated exchange rate. Currency in which there is large confidence in the world markets, as opp
Rajender Kumar was a production worker at competent Motors Limited (CML) which made components and accessories for the automotive industry. He had worked
Scope of Circulation work Circulation work includes • Registration of members, • Lending, i.e., charging and discharging, • Renewals, i.e., persons who seek extension o
Give an account of emerging trends in Management
case study of managing supermarket and Mr vincent
Survey of Knowledgeable Persons or Experience Survey: Experience survey means the survey of people who have had practical experience with the problem to be studied. Thes
challenges in rational decision making
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