Relevance and implication of business objectives models in terms of Nepalese enterprise. Ans: In much of economic theory‚ it is assumed that a business aims to maximise profits.In reality‚ most businesses which are run for “commercial gain” do have profit maximisation as an important objective – since the shareholders have taken a risk investing in the business and require a return (profit) to compensate them for their risk. Profit maximization is the process by which a firm determines the price
Free Economics Management Marketing
Qn 1a) Describe how you think Wernie will make sure that the way he manages the hotel is appropriate to the way it competes for business; Penang Mutiara‚ being one of the most prestigious hotels in Penang‚ have managed to secure a foothold in this lucrative and highly competitive environment. Wernie has the vision and very clear focused beliefs about the importance of running an effective operation where customers have every right to demand for first class service which they are obliged to provide
Premium Hotel Management Strategy
RESEACH A BUSINESS AND EXAMINES ITS INPUTS‚ TRANSFORMATION PROCESSES AND OUTPUTS. EXPLAIN THE IMPACT OF TECHNOLOGY ON THIS BUSINESS. THEN DISCUSS WHAT CORPORATE SOCIAL RESPONSIBILTY IS AND HOW A BUSINESS CAN TAKE ADVANTAGE OF IT. Operations management is concerned with overseeing‚ designing and controlling the process of production and then turning raw materials and resources into outputs of finished goods or services. It involves the responsibility of ensuring that business operations are efficient
Premium Corporate social responsibility Airline Customer
Operations Management and Ethics Operations management may be defined as the design‚ operation‚ and improvement of the production system that creates the firm ’s primary products and services‚ or‚ as Chase‚ Jacobs & Aquilano (2006) state "operations management is about getting the day-to-day work done quickly‚ efficiently‚ without errors‚ and at low cost". Operations management is critically important in any organization or business nowadays. Operations management is one of the three major functions
Premium Management Business ethics Ethics
Operations management is an area of management concerned with overseeing‚ designing‚ and controlling the process of production and redesigning business operations in the production of goods or services. It involves the responsibility of ensuring that business operations are efficient in terms of using as few resources as needed‚ and effective in terms of meeting customer requirements. It is concerned with managing the process that converts inputs (in the forms of materials‚ labor‚ and energy) into
Premium Management Good Customer
Ending the Employee Relationship Critique There are many situations in which managers do not want to deal with. If you were to give managers a survey on which situation they dread most‚ many would probably say the termination of an employee. It’s been long disputed proper ways to approach this situation‚ but no matter what research indicates and suggests‚ the situation is usually uncomfortable for both parties. In The Winding Road from Employee to Complainant: Situational and Psychological Determinants
Premium Employment Termination of employment
Business Meeting Etiquette Some basic rules on business meeting etiquette and protocol. Business etiquette is essentially about building relationships with colleagues‚ clients or customers. In the business world‚ it is these people that can influence your success or failure. Etiquette‚ and in particular business etiquette‚ is simply a means of maximising your business potential by presenting yourself favourably. Business meetings are one arena in which poor etiquette can have negative effects
Premium Etiquette
QUESTION 1 Using the specific operations performance objectives explain why do you thing TMC is a world-class company? A company should be concerned to satisfy its customers’ requirements for fast and dependable services at reasonable price‚ as well as helping its own suppliers to improve services they offer. There are five basic performance objectives and they apply to all types of operation: • Quality • Speed • Dependability • Flexibility • Cost (Slack‚ N. et
Premium Quality management Lean manufacturing Total quality management
How could Boots use relationship marketing? In this report I will be talking about how Boots could use relationship marketing in the concept of the 7 P’s‚ the ladder of customer loyalty and total product concept. The 7 P’s helps the business to create an effective marketing mix which brings profits for the business. The 7 P’s include: people‚ place‚ price‚ process‚ physical environment‚ promotion and product. Boots could use ‘people’ as a way to build relationships by having polite and helpful
Premium Marketing Concept Interpersonal relationship
What is ethics? Ethics is concerned with what is right or wrong‚ good or bad‚ fair or unfair‚ responsible or irresponsible‚ obligatory or permissible‚ praiseworthy or blameworthy. It is associated with guilt‚ shame‚ indignation‚ resentment‚ empathy‚ compassion‚ and care. It is interested in character as well as conduct. It addresses matters of public policy as well as more personal matters. (http://www.onlineethics.org/Education) In business ethics is applied and practiced in all levels however
Premium Ethics Business ethics