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Showing posts from June, 2020

What is Decision making in management?, Types of Decision making, Importance of decision making.

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What is Decision making in management?Decision making is the judgment of process by which one can choose between a number of alternative courses of action for the purpose of achieving goals.  Managerial decision making is synonymous with the whole process of management. It decides what should be done? how should it be done? when and by whom should be done?
A decision may also be conceived as a conclusion that a manager has reached so as to know what he should do later on. It calls for both judgemental and imagination activity to select one from many alternatives, so decision making is an intellectual activity.

What is Production planning and Control ?

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Definition of Production planning and control:Production is the transformation of raw material into finished goods. planning looks ahead anticipate possible problems and decides in advance as to how the production carried out in the best way.  Control makes sure that the programmed production is constantly maintained.

What is Product Planning? Elements of Product Planning, Advantages of Product Planning

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Definition of Product planning:Product planning is the evaluation of the range, specification, and pricing of new and existing products according to the present and future market requirements and competition.
Planning of product is to satisfy the company objectives and to specifying the requires research, design, and development support.