efficiency and effectiveness in management. (5 marks) Efficiency refers to being productive at work‚ to use resources – time‚ equipment‚ people‚ money‚ raw materials‚ etc.-wisely & cost-effectively. An efficient manager will strive to maximize productivity at work. Efficiency can be calculated by the formula: output/input. Effectiveness refers to making the right decisions & to successfully carry them out so that they achieve organizational goals. A manager can be efficient but not effective
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organisations become standardised and focus upon efficiency and predictability‚ it is extremely efficient and allows workers to perform their tasks quickly with minimal effort required. Scientific management is an approach to help improve labour productivity; it divides work into simplistic‚ repetitive tasks. Rational design is based upon the idea of increasing efficiency this is both beneficial for the business as well as consumers‚ by increasing the efficiency of Junction Hotel they will be able
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Introduction: Now a days Garments sector is one of the most demandable industries in the world. Most of the countries are related now in Garments sector including Bangladesh. And Bangladesh is competing with others in the world market. There are lots of companies established in Bangladesh for Exporting the Garments products. The Mostafa Garments Industries Ltd. Is one of the Leading company in Bangladesh. They Export there products in America‚ EU countries‚ Japan and Chaina Market. They supply
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and caused physical and mental problem of employees. This report will discuss that long working hours do much more harms than it can benefit although it may decrease employees’ financial burden and overall have a positive effect on companies’ productivity. Two main reasons are that it harms employees’ health‚ and has negative influence on their family and social life Key aspects of long working hours 1. Positive impacts Firstly‚ in terms of employees themselves‚ it is true that long working hours
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Jones Ironworks Inc. Background Frederick Jones was a master blacksmith who emigrated from England to Erindale‚ Ontario where he set up his shop. From this small shop‚ Fred Jones plied his trade‚ shoeing horses and making wonderful wrought iron works‚ using simple forges and hand tools. His works can still be found in the village of historic structures like St. Peter’s Church‚ a masterpiece that sits high above the Credit River. In the true spirit of Frederic Jones‚ all the products are
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has two sides‚ working within a multicultural environment also has advantages and disadvantages. There are five advantages‚ language‚ cultural awareness‚ service coverage‚ productivity and economic potential. On the other hand‚ there are four negative aspects‚ a poor unqualified certificate‚ racial discrimination‚ low productivity and economic crisis. In fact‚ there are still improvements to be made in the future. People need to improve language accuracy and strengthen cultural awareness for advantages
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GDP are impacted by this purchase? b. Does GDP increase‚ decrease or stay the same? Briefly explain why. c. Does your answer change if the company in China is a U.S.-owned company? Why or why not? 5. Describe the relationship between labor productivity and growth? How do technological advancements impact labor
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levels of labor? A) AP = 3 cars per worker B) AP = 5 cars per worker C) AP = 4 cars per worker D) We do not have enough information to answer this question. Answer: A Diff: 1 Section: 6.2 43) An important factor that contributes to labor productivity growth is: A) growth in the capital stock. B) technological change. C) the standard of living. D) A and B only E) A‚ B‚ and C are correct. Answer: D Diff: 1 Section: 6.2 44) Joe owns a coffee house
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field of study that investigates the impacts of individuals‚ groups‚ and structure of behavior within organizations. Its aim is to apply such knowledge toward improving organizational awareness * Frequently applied to: absenteeism‚ turnover‚ productivity‚ motivation‚ job satisfaction‚ working in groups * Often applied by manager to manage organizations more effectively * Not just for managers and employees‚ also for entrepreneurs and self-employed individuals‚ because you have to interact
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challenges due to the rising cost of raw materials. Problem: High turnover and low productivity were due to stressful work environment‚ lack of training‚ morale and hiring problems. Foremen had too many responsibilities yet lack of authority and respect. Lack of communication within the plant. Opportunities: Lama Plant has a great opportunity to enhance work environment and upgrade workers skills to increase productivity. Recommendations: Eliminate dissatisfaction by: - Reducing work hours‚ and offering
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