This article throws light upon the two main activities performed by operations management. The activities are: 1. Design of the Operations System 2. Operations and Control Decision. Activity # 1. Design of the Operations System: These are long-term strategic decisions related to product design, process design, location of facilities, facilities layout and capacity planning. Product design: It decides about what [...]
After reading this article you will learn about:- 1. Meaning of Management Principles 2. Nature of Management Principles 3. Significance 4. Universality. Meaning of Management Principles: Principle refers to fundamental truth about a concept that provides guide to action. Principles evolve in every field of knowledge — medicine, engineering, accountancy etc. Management principles tell about administration of business, that is, [...]
After reading this article you will learn about the arguments in favour and against professionalisation of management. Arguments in Favour of Professional Management: Professional management has the following merits: 1. In the competitive business environment both at the national and international levels, only professionally qualified managers can face competition. In order to survive in the global dynamic environment, it is [...]