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. Objectives of Financial Management 2. Scope of Financial Management 3. Functions. Objectives of Financial Management: The objectives of financial management are: (a) Profit Maximisation: The primary objective of organisation is to earn profits. The finance manager should undertake activities which maximise profits. Though conceptually profit maximisation seems to be an appropriate [...]
This article throws light upon the three categories of roles played by managers in an organisation. The categories are: 1. Interpersonal Roles 2. Informational Roles 3. Decisional Roles. Category # 1. Inter-Personal Roles: The need for these roles arises because managers constantly interact with the superiors, peers, subordinates and the outside parties. Unless a person is a role model to [...]