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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 is formal and informal socialization?

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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?

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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?

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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?

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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?

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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?

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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?

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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?

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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?

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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?

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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?

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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?

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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?

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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?

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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?

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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?

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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?

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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?

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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?

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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.

Frederick W Taylor contributions in school management?

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Asked by Wiki User

Frederick W. Taylor's contributions to school management include advocating for scientific management principles to increase efficiency and productivity in school operations, such as implementing standardized processes and employee training. He emphasized the importance of task specialization and worker supervision to improve overall performance in schools. Taylor's ideas have been adapted to modern educational settings to create more effective and structured school management practices.

What is information system planning?

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Asked by Wiki User

Information system planning is the process of defining the strategic direction for an organization's use of technology to achieve its goals. It involves assessing current systems, identifying future needs, aligning IT resources with business objectives, and creating a roadmap for implementing and managing technology solutions effectively. The goal is to ensure that technology investments support the organization's overall strategy and objectives.

What are the various steps of selection process?

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Asked by Wiki User

The selection process typically involves steps such as application screening, initial assessment (e.g., interviews, tests), background checks, reference checks, and final decision-making. These steps help organizations evaluate candidates based on their skills, qualifications, and fit for the role. A structured selection process aims to ensure that the most suitable candidate is chosen for the job.

Advantages and disadvantages of direct method in cash flow?

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Asked by Wiki User

Advantages of the direct method in preparing the cash flow statement include providing a more detailed breakdown of cash receipts and payments, making it easier for users to understand the sources of cash. However, a disadvantage is that it requires more detailed information and can be more time-consuming to prepare compared to the indirect method.

What is the dual nature of information systems?

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Asked by Wiki User

The dual nature of information systems refers to their ability to handle both data management tasks, such as storing and processing information, and decision-making tasks, such as providing insights and recommendations based on the data. Information systems can function as operational tools for day-to-day tasks and strategic tools for long-term planning and analysis.

Is public administration an art?

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Asked by Wiki User

Yes, public administration is considered both a science and an art. While it involves applying knowledge and principles to govern and manage public resources effectively (science), it also requires creativity, judgement, and interpersonal skills to navigate complex public issues and relationships (art).