concept of management is universal and very old. That is why different views have been expressed about its nature by different writers from time to time. The continuous and rapid development of management principles and practices in organization has changed the nature of management. The main points of view about the nature of management are given below: Management as an Art‚ Science or Both A lot of controversy arises whether management is an art or science or both. It is said that the management is the
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Chapter 5: DISCIPLINE 1. Definition. a. According to the dictionary‚ discipline is: 1. Training that is expected to produce a specific character or pattern of behavior‚ especially training that produces moral or mental improvement. 2. Controlled behavior resulting from disciplinary training. 3. A systematic method to obtain obedience. 4. A state of order based upon submission to rules and authority. 5. To train by instruction and control. b. Discipline is a learned behavior. It is much more than
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CHAPTER 5: MASTER TEST BANK UNDERSTANDING CONSUMER BEHAVIOR Test Item Table by Major Section of the Chapter and Bloom’s Level of Learning Bloom’s Level of Learning (LL) Level 1 Knowledge (Knows Basic Terms & Facts) Major Section of the Chapter Level 2 Comprehension (Understands Concepts & Principles) Level 3 Application (Applies Principles) Chapter Opener: Enlightened Carmakers (pp. 108-109) 1‚ 2 3‚ 4‚ 5 6 Consumer Purchase Decision Process and Experience
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PROJECT MANAGEMENT What is a Project? According to the Project Management Institute (PMI) ‚ a project is any work that happens only once‚ has a clear beginning and end‚ and is intended to create a unique product or knowledge. It may involve only one person‚ or thousands. It may last several days‚ or many years. It may be undertaken by a single organization‚ or by an alliance of several stakeholders. A project may be as simple as organizing a one-day event or as complex as constructing a dam on
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Management is a set of activities (including planning and decision making‚ organizing‚ leading‚ and controlling) directed at an organization’s resources (human‚ financial‚ physical‚ and information) with the aim of achieving organizational goals in an efficient and effective manner. A manager is someone whose primary responsibility is to carry out the management process within an organization. The effective practice of management requires a synthesis of science and art; that is‚ a blend of rational
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INTRODUCTION Trade credit arises when a firm sells its products or services as credit and does not received cash immediately. It is an essential marketing tool‚ acting as a bridge for the movement of goods through production and distribution stages to customers. A firm grants trade credit to protect its sales from the competitors and to attract the potential customers to buy its products at favourable terms. Trade credit creates accounts receivable or trade debtors that the firm is expected
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1) Explain why strategic management has become crucial in today’s dynamic health care environment. Changes – “Only constant is change” Technological – internet and online banking Social/Cultural – “On Demand” consumer preferences‚ desire for 24 hr service Demographic – Preferences/needs of Baby Boomers vs Generation “Y” Political/Regulatory – Security‚ privacy of financial data Economic – Housing boom‚ housing bust‚ mortgage debacle Competitive – Online-only banks‚ consolidation Customer
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Fredrick Taylor Frederick Winslow Taylor was born on March the 20th 1856. He was a mechanical engineer whose goal was to improve industrial efficiency. Taylor was born to a very rich family in Germantown‚ Philadelphia‚ Pennsylvania. Taylor’s father‚ Franklin Taylor was a Princeton lawyer and his mother‚ Emily Annette Taylor was an abolitionist. He focused most his career improving his management and machining methods through lecturing‚ writing‚ and consulting. Taylor who was recognized for
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Introduction RETAIL MANAGEMENT The word ’retail’ is derived from the French word ’retailer’ meaning ’to cut a piece off’ or ‘to break bulk’. In simple terms it involves activities whereby product or services are sold to final consumers in small quantities. Although retailing in its various formats has been around our country for many decades‚ it has been confined for a long time to family owned corner shops. Retail marketing is an essential component of an overall marketing
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5-1 Chapter 5 MASS AND ENERGY ANALYSIS OF CONTROL VOLUMES Conservation of Mass 5-1C Mass‚ energy‚ momentum‚ and electric charge are conserved‚ and volume and entropy are not conserved during a process. 5-2C Mass flow rate is the amount of mass flowing through a cross-section per unit time whereas the volume flow rate is the amount of volume flowing through a cross-section per unit time. 5-3C The amount of mass or energy entering a control volume does not have to be equal to the amount
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