Managerial Economics Final Project Fajwa’s Apparel Outlets Iqra Fayyaz (10223004) Malik Usman Khan (10223001) Sufyan Adil (10223024) Jabbar Ahmed(10223006) Mohd. Salman (08110104) Instructor: Dr. Tasneem Akhtar GIFT Business School GIFT University ACKNOWLEDGMENT In the name of ALLHA ALMIGHITY the lord of the world who has bestowed us with abilities and blessed with knowledge so that we can make best of opportunities provide to us. First of all we are indebted toward ALLHA ALMIGHTY
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relationship between two people in the following terms: "person A getting person B to do what person A wants them to do." This simple outlook on power has become one of the most widely used definitions‚ although there are many variations to it. Managerial power is the ability to control employees‚ resources‚ decisions‚ knowledge‚ technology and workplace rules. SOURCES OF POWER IN BUSINESS ORGANISATION MANAGEMENT According to the 1960 study Bases of Social Power by John R.P. French and Bertram
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Management Roles The primary role of management is to make it possible for teams to work. They also provide guidance and direction to work effort. The role of management in an organization is purely functional. It is not a role any more or less prestigious than any other role in the company. It is similar to the difference between marketing personnel and engineering personnel. The function of management is: Set up a plan (vision) for the company‚ group‚ or team being managed. Ensure that
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Questionnaire on Managerial Skills 1. Name: ____________________________________________________________ _ 2. Institutes Name: ____________________________________________________________ _ 3. Location of the Institute: ____________________________________________________________ _ 4. Do you accept CAT’s result for your entrance? Yes No 5. Do you accept any other aptitude test’s results other than CAT? Yes No 6. If yes‚ which? a) MAT
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Three Managerial Skills In the past decade‚ businesses became more technology based‚ more diverse and competitive. Cortwell in an online article mentions‚ how businesses have changed from simple barter trade‚ when the concept of money was not introduced until now‚ the computer revolution has changed everything (Importance of Technology in Business‚ 2009). Every manager should adopt key skills in order to manipulate the employees in the correct fashion. In today’s world of diversity of business
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SEMESTER 1 (MM 100) PRINCIPLES AND PRACTICES OF MANAGEMENT SECTION A: OBJECTIVE TYPE (30 MARKS) Part One: Multiple Choices: 1. A plan is a trap laid to capture the _____ Answer: a. future 2. It is the function of employing suitable person for the enterprise Answer: b. Staffing 3. _________ means “group of activities and employees into departments” Answer: d. Departmentation 4. This theory states that authority is the power that is accepted by others Answer: a. Acceptance Theory
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Set -1 1Q.Control (management) Controlling is one of the managerial functions like planning‚ organizing‚ staffing and directing. It is an important function because it helps to check the errors and to take the corrective action so that deviation from standards are minimized and stated goals of the organization are achieved in desired manner. According to modern concepts‚ control is a foreseeing action whereas earlier concept of control was used only when errors were detected. Control in management
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Hult Managerial Economics Don Uy-Barreta Lecture notes – Week 1 Chapter 1 – Microeconomics: A Way of thinking about business (and life!!!) The bottom line Property rights are crucial to the efficient allocation of resources that are depleted or devalued in some way when used and when transaction costs are low. They can be a problem when transaction costs are high and the use of the resource does not deplete the resource or devalue it. 1) What is economics about? a) What and how much
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ASHVINNI RAGUNATHAN -‐ BUSINESS STUDY GUIDE 1 Section 1.1 Factors of Production • CELL o Capital -‐ To make their goods or to provide their services‚ firms need to invest money in machinery‚ buildings‚ vehicles and other major resources o Entrepreneurs – The entrepreneur owns the business and is
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Managerial Analysis 17-2 Alberto Nicholas. University of Phoenix ACC561/PD14MBA08 June 18‚ 2015 Dr. Norris Dorsey Managerial Analysis 17-2 A) Compute the activity-based overhead rate for each activity pool. Activity Cost pools Cost Driver Annual Cost Total estimated Drivers Activity-based overhead rate Market Analysis Hours of Analysis $1‚050‚000 15‚000 hours $70.00 Product Design Number of Designs $2‚350‚000 2‚500 designs $940 Product Development Number of Products $3‚600‚000 90 products
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