Entrepreneurship - ThesisBusiness

What is Production Strategies? – Its Types & Importance

September 1, 2021 by Raj Verdhan

A business requires to make all sorts of planning in human resources, finance, accounting, technology, sales, marketing, production, and many more. Planning is the first step towards taking any right decision for the better functioning of the organization. Production planning or strategies play the most significant role, whether in the general or manufacturing sectors.

This article intends to elaborate detailed information regarding types of production strategies, classification, importance, and more.

Importance & Types of Departmentalization in Organization –

August 24, 2021 by Raj Verdhan

Have you ever imagined how big companies like Google, HP, Wipro, ONGC, Hindustan Unilever, and others manage their vast business expanded in multiple countries? The answer is departmentalization that is one of the business processes adopted by most organizations. It is pretty hard to imagine the presence of a conglomerate without that.

In this article, we will explain the concept, process, importance, and types of departmentalization in any organization with examples.

11 Efficient Controlling Techniques –

July 5, 2021 by Raj Verdhan

Management is both art and science. The art of getting things done is called management, and the mechanism to get things done is called efficient controlling in management.

Since its very inception, management has been an evolving entity, and so has been the controlling function of management. This article ellaborates various effective controlling techniques utilized by the managers to evaluate the performence of their subordinates or different strategies formulated by the management of the enterprise.

Importance & Functions of Production Management –

May 24, 2021 by Raj Verdhan

Abstract:

Production management is concerned with the creation of products and services using a business model. They’re also relevant in service and manufacturing businesses. The application of management and concepts to the production function in a factory is referred to as production management.

Production management, in basic terms, entails the planning, coordinating, directing, and controlling of the manufacturing process. It holds a critical position at the heart of an enterprise, balancing the need to deliver value to the business (typically profit) with what consumers want and what’s technically and operationally feasible. This article aims to elaborate importance and functions of production management.

Production Management – Meaning | How it works?

May 24, 2021May 18, 2021 by Raj Verdhan

In its simplest meaning, production management means controlling, planning, organizing and directing, and executing the production activity. It can also be said as the supervision of the 6 Ms, namely Men, Methods, Material, Management, Money, Machine, Market. Production management is the efficient management of a production process.

Production management also entails decision making, such as how much costs shall be incurred in particular production practice, how much raw materials shall be supplied, what kind of machine usages shall be taken under consideration, the manpower that shall be needed for a smooth and hustle free production, etc. are to be decided by the production manager.