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Explain the term objective or necessity.
Objective or Necessity: The objective or the need of permitting workers to participate in management can be:
(i) To attain industrial peace and harmony.
(ii) To boost internal motivation in the workers.
(iii) To develop the morale of employees.
(iv) To increase the levels of the employee production, product quality and productivity.
(v) To satisfy workers through making they feel that they have their voice in the management.
(vi) To provide workers a better understanding of their role in the working of industry.
(vii) To increase better mutual understanding in order that the workers do not resist a change for the betterment of the relation (for example introduction of work study)
(viii) To minimize the number of grievances and thus, industrial disputes.
(ix) To create managing of the subordinates simple.
How Break even Analysis helps in solving the problems. Break even Analysis assists solving the problems of following: (a) What volume of sales will be necessary to cover?
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