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Advantages and Disadvantages of Work Sampling Method
Advantages of Work Sampling The benefits or advantages of work sampling method are as follows:Image credits © Prof. Mudit Katyani.Work sampling gives an unbiased result since workmen are not under...
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Classification of Performance Dimensions - Quantity Quality
Classification of Performance Dimensions A dimension is a measurable extent of any kind. It is usually measured in terms of various extends like shape, size, quality and quantity.The performance...
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Guidelines for Determining Performance Dimensions
Guidelines for determining performance dimensions Guidelines for determining performance dimensions are depicted below.The dimensions of performance must be as follows:Performance dimensions (Quantity...
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What is Productivity? Definition Meaning
What is Productivity? Definition ↓ According to Peter Drucker,“Productivity means the balance between all factors of production that will give the greatest output for the smallest effort.”The meaning...
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Relationship Between Production Planning and Control
Relationship Between Production Planning and Control Production planning and control are closely related to one another. They go hand in hand and are supplementary in character.Ten points explain the...
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Functions of Production Planning and Control - Importance
Functions of Production Planning and Control Functions of production planning and control are listed and explained below.The importance or functions of production planning and control: Utilizes...
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Stages Steps in Production Planning and Control
Steps in Production Planning and Control According to the British Standards Institute, there are four stages, steps, techniques or essentials in the process of production planning and control.The four...
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Steps Procedure of Routing in Production
Steps or Procedure of Routing in Production Following image depicts main steps or procedure of routing in production.Following important steps are involved in the procedure of routing: Product...
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Difference Between Intermittent & Continuous Production System
Difference between Intermittent and Continuous Production System Difference between intermittent and continuous production system; based on 10 points.Image credits © Prof. Mudit Katyani. Nature of...
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Factors that Affect Productivity
Factors that Affect Productivity The factors that affect productivity are depicted and listed below.Image Credits © Prof. Mudit Katyani.The main factors that affect productivity are:-Technical factors...
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Importance of Location Planning
Importance of Location Planning Location planning decisions are very important for all types of business units. This is because it affects the cost, selling price, and demand of the product. It is a...
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Nine Main Benefits of Higher Productivity
Benefits of higher productivity The following image depicts a list of nine benefits of higher productivity.Image credits © Prof. Mudit Katyani.The nine main benefits of higher productivity are:Higher...
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Problems in Measuring Productivity - Difficulties
Problems in Measuring Productivity The difficulties or problems in measuring productivity are listed belowImage Credits © Prof. Mudit Katyani.Difficulty in measuring output : The output of an industry...
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What is Scheduling? Definition Meaning
Definition of Scheduling The definition of scheduling as quoted by an eminent scholar is as follows:According to Richard Lansburgh and William Spriegel,“Scheduling involves establishing the amount, of...
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Internal and External Factors Affecting Scheduling
Factors Affecting Scheduling The following chart depicts various factors affecting scheduling.The factors that affect scheduling are grouped into two categories viz;Internal factors : Affect an entity...
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Ten Main Factors Affecting Plant Location
Factors Affecting Plant Location Plant location must be selected properly by entrepreneurs while planning to set up their business units. While taking such a decision, they must consider some...
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What is Product Quality? Definition Meaning Importance
Definition of Product Quality Before we proceed to understand, “what is product quality?” First, let's focus on the definition of quality.It is not easy to define the word Quality since it is...
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Explain the Social Responsibility of Business
Social responsibility of business The social responsibility of business means various obligations or responsibilities or duties that a business-organization has towards the society within which it...
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Discuss the Scope of Social Responsibility of Business
Scope of social responsibility of business Earlier, we discussed the introduction of the social responsibility of business. In this starting article, we tried to grasp the basic understanding of its...
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Eleven Major Functions of Advertising Agency
Functions of advertising agency Advertising agency is an independent service-rendering organization. It delivers various services and performs many functions for its clients, who are advertisers. It is...
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