answersLogoWhite

0

🏢

Business & Finance

Ever since money was invented, we've been involved in business and financial transactions. Questions here are about all commercial, financial and industrial activity related to the economy, investing, and stock markets. This includes questions and information about production and manufacturing, exchange and distribution of goods or commodities, and management of money and other assets.

500 Questions

What functions do formal and informal groups serve in an organisation?

User Avatar

Asked by Wiki User

Formal groups in an organization serve the purpose of achieving specific goals, facilitating communication, and providing a structured framework for work processes. Informal groups, on the other hand, often fulfill social and emotional needs of employees, help in building relationships, and can act as a support system within the organization. Both formal and informal groups contribute to the overall functioning and effectiveness of an organization in different ways.

Role and scope of production management?

User Avatar

Asked by Wiki User

Production management involves planning, organizing, leading, and controlling the activities involved in manufacturing a product or offering a service. It aims to efficiently utilize resources to meet production goals, ensure quality, and deliver products or services on time. The scope of production management includes production planning, process design, production control, inventory management, and quality control.

Appraise the dimensions of quality Give an example of a product or service in which each of these characteristics is important?

User Avatar

Asked by Wiki User

The iPhone has all eight dimensions of product quality management. It is durable, has features people want, performs well, is reliable, has perceived quality, is serviceable, and has great aesthetics. The iPhone also has conformance because they are made with precision.

What are the other ways of measuring labor productivity?

User Avatar

Asked by Wiki User

Other ways of measuring labor productivity include output per worker, value added per worker, and revenue per employee. These metrics help evaluate how efficiently labor resources are being utilized in generating output or adding value to the business.

What is the Flynn's Classification with examples?

User Avatar

Asked by Wiki User

First of all as we know the CPU comprises of The Registers,The ALU Unit and the Control Unit.Processing of the data is done in CPU Registers (an area or a memory where processing takes place).

M.J.Flynn suggested these architectures for enhancing the computational speed of the computer:

1. Single Instruction Single Data (SISD):

Single instruction is performed on a single set of data in a sequential form.Most of our computers today are based on this architecture.Von Neumann fits into this category.Data is executed in a sequential fashion (one by one).

2. Single Instruction Multiple Data (SIMD):

Single Instruction is performed on multiple data.A good example is the 'For' loop statement.Over here instruction is the same but the data stream is different.

3. Multiple Instruction Single Data (MISD):

Over here N no. of processors are working on different set of instruction on the same set of data.There is no commercial computer of this kind also these are used in Space Shuttle controlling computer (all the buttons you must have noticed in the control center).

4. Multiple Instruction Multiple Data (MIMD):

Over here there is an interaction of N no. of processors on a same data stream shared by all processors.Now over here if you have noticed a lot of computers connected to each other and when they perform a task on the same data (data is then shared).If the processing is high it is called Tightly Coupled and Loosely Coupled vice-versa.Most Multiprocessor fit into this category.

Why is housekeeping important in hospitality industry?

User Avatar

Asked by Wiki User

Housekeeping is important in the hospitality industry because it ensures a clean and comfortable environment for guests, which can lead to increased satisfaction and return visits. A well-maintained property also helps to uphold the reputation of the hotel and can contribute to positive reviews and recommendations. Effective housekeeping practices can also improve operational efficiency and hygiene standards.

What is formal and informal socialization?

User Avatar

Asked by Wiki User

Formal socialization is learning skills, values, and norms with planned and organized experiences such as in school. Informal socialization is learning without an institution or formal procedure.

What are the benefits of using ICT?

User Avatar

Asked by Wiki User

Using ICT (information and communication technology) can improve communication, increase efficiency, enhance productivity, enable global connectivity, and facilitate access to information and resources. It can also streamline processes, automate tasks, and provide opportunities for innovation and creativity.

Disadvantages of autocratic leadership style?

User Avatar

Asked by Wiki User

Autocratic leadership may lead to low morale and motivation among team members due to limited empowerment and involvement in decision-making. It can also hinder creativity and innovation within the team, as ideas and feedback may not be encouraged. Additionally, an autocratic leader may face resistance and pushback from team members, which can impede progress and collaboration.

Why are information systems essential in business today Describe four trends in the global business environment that have made information systems so important?

User Avatar

Asked by Wiki User

Information systems are essential in business today for efficient operations, decision-making, and maintaining competitiveness. Four trends in the global business environment that have heightened the importance of information systems include globalization, digital transformation, increasing competition, and the need for real-time data analytics and insights to drive business strategies. These trends require businesses to leverage information systems to adapt, innovate, and respond swiftly to market changes.

What is Business Internal Assessment?

User Avatar

Asked by Wiki User

Business Internal Assessment is an evaluation conducted within an organization to assess its operations, processes, and performance. It typically involves analyzing factors such as efficiency, effectiveness, compliance with policies and regulations, and overall health of the business. The purpose of the assessment is to identify areas for improvement and to make informed decisions on how to enhance the organization's performance and outcomes.

What are the Challenges of Production and Operation Management?

User Avatar

Asked by Wiki User

ERP (Enterprise Resource Planning), Supply chain management, lean production and process Analysis, Business process mapping, Operation Research, Decision of Operation management and operating strategy.

What leadership styles involves employees the most a democratic leadership b autocratic leadership c free rein leadership d empowerment?

User Avatar

Asked by Wiki User

A democratic leadership style involves employees the most as it emphasizes participation, collaboration, and open communication in decision-making. This style encourages team members to share their ideas and opinions, leading to increased employee engagement and satisfaction. Autocratic leadership tends to restrict employee involvement, while free rein leadership gives employees a high level of autonomy but may not involve them as directly in decision-making. Empowerment is a strategy that can be used in conjunction with democratic leadership to further engage and involve employees in decision-making processes.

What is a TNC and a MNC?

User Avatar

Asked by Wiki User

TNC stands for transnational corporation, which is a large company that operates in multiple countries. MNC stands for multinational corporation, which is similar to a TNC but typically has a centralized management structure and operates in a few countries.

What is collective efficacy?

User Avatar

Asked by Wiki User

Collective efficacy refers to the belief within a group or community that they can work together to achieve common goals and overcome challenges. It involves a shared sense of trust, cooperation, and responsibility among members to jointly address issues or problems. This concept is often linked to positive outcomes such as increased social cohesion and improved community well-being.

What is the importance of research proposal?

User Avatar

Asked by Wiki User

A research proposal is important because it outlines the objectives, methods, and significance of a research project. It helps researchers plan and organize their work, gain approval and funding for their study, and demonstrate the feasibility and value of their research to others in the field. Ultimately, a strong research proposal is essential for guiding the research process and ensuring its success.

What is theoretical frameworks?

User Avatar

Asked by Wiki User

Theoretical frameworks are established principles or models that guide the study of a particular topic or field. They provide a structure for examining phenomena, generating hypotheses, and interpreting results in research or academic work. Theoretical frameworks help researchers organize their thoughts and findings within a broader context of existing knowledge and understanding.

What is systematic classification?

User Avatar

Asked by Wiki User

Systematic classification is the process of organizing and grouping living organisms based on their shared characteristics. It involves categorizing organisms into hierarchical groups, such as kingdom, phylum, class, order, family, genus, and species, to indicate evolutionary relationships. This classification system helps scientists to study, understand, and communicate about the diversity of life on Earth.

What is the major theoretical framework of research?

User Avatar

Asked by Wiki User

One major theoretical framework of research is the positivist approach, which emphasizes using empirical evidence and scientific methods to study phenomena. This framework seeks to uncover universal truths and causal relationships through rigorous data collection and analysis.

What is the Continuum of knowledge?

User Avatar

Asked by Wiki User

The continuum of knowledge refers to the idea that knowledge is a continuous spectrum rather than a binary concept of "knowing" or "not knowing." It suggests that individuals can have varying degrees of expertise or understanding on a given subject, and that learning is a lifelong process that involves moving along this continuum towards deeper levels of understanding.

What are the advantages and disadvantages of having a Democratic Leadership Styles and also include famous leaders who have used this styles?

User Avatar

Asked by Boothy08

Advantages of Democratic Leadership Style: Encourages employee participation, boosts morale and creativity, fosters a sense of ownership in decision-making processes. Disadvantages: Can be time-consuming, may lead to indecisiveness, can be challenging to implement in fast-paced environments.

Famous leaders who used Democratic Leadership Style: Abraham Lincoln, Mahatma Gandhi, Nelson Mandela.

What is the difference between international and global marketing?

User Avatar

Asked by Wiki User

International marketing refers to marketing activities that target customers in different countries, while global marketing involves creating a standardized marketing strategy that can be applied worldwide. International marketing may involve adapting products and strategies to suit local markets, while global marketing aims for consistency and uniformity across all markets.

What are the recent trends in production operations management?

User Avatar

Asked by Wiki User

Recent trends in production operations management include the adoption of advanced technologies like artificial intelligence and Internet of Things for process optimization, the increasing focus on sustainability and environmentally-friendly practices, and the rise of agile and flexible manufacturing systems to quickly adapt to changing market demands. Additionally, there is a growing emphasis on supply chain resilience and risk management in response to global disruptions like the COVID-19 pandemic.

What is fiscal administration?

User Avatar

Asked by Wiki User

Fiscal administration refers to the management and oversight of government finances, including budgeting, taxation, and expenditure of public funds. It involves ensuring that government revenue is collected efficiently, allocated effectively, and spent transparently in accordance with laws and regulations. The goal of fiscal administration is to promote fiscal discipline, accountability, and economic stability.

Types of theory?

User Avatar

Asked by Wiki User

There are various types of theories, including scientific theories that aim to explain natural phenomena based on evidence, social theories that attempt to understand human interactions and societal structures, and psychological theories that explore thought processes and behavior. Additionally, there are also philosophical theories that seek to address questions about existence, knowledge, ethics, and morality.