Commited to Explore Knowledge
Trade is a vital social activity because society requires a constant supply of things to meet ever-increasing, ever-changing, but never-ending human demands. Consumers and countries might be exposed to items and services that are not available in their own country through global trade.
Barter was an early form of trading. The exchange of products and services for other goods and services was known as bartering. Bartering is a method of exchanging goods without the use of money.
Humans are constantly involved in some activity or another to satisfy their insatiable desires. We come across the words ‘business’ and ‘businessman’ daily, either directly or indirectly. In today’s environment, the business has become a necessary component. The source of revenue generation is business. It’s a way to make money in foreign currency.
If we look into the etymology of the term ‘Business’ it is a cumulative form of two words, i.e. ‘busy’ and ‘ness’, but a business has to offer so much more than just being busy. This article deals with the different aspects, types, nature and significance of business.
Whether you are just a beginner or an expert in stock market investing, you must hear the terms ETFs (Exchange-traded funds) and index funds, one day or the other. Both are great to start with, but one should critically examine what exactly they are, how do they work? before get in.
Though they are more similar to each other, at the same time, there are few differences as well. Hence it is advised to analyze their similarity, differences, pros, and cons before investing in these investment vehicles.
This article intends to elaborate on the similarity and difference between ETF and index fund based on different critical perspectives which are significant to get the desired outcomes in the future.
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.
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.
