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
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It was difficult being an Aryan in Nazi Germany‚ specifically being an Aryan women. Before Hitler came into power‚ the Weimer Republic gave emancipation to women‚ even though it was relatively small and discrimination against women‚ either within marriage or in the wider social and economic sphere was present. But it was even more difficult in Nazi Germany‚ since Hitler proposed the need for Germany to be made up of a pure race‚ exclusively of the Aryans. Hitler was inconsistent with his approaches
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Alternatives to Layoffs Layoffs‚ a short term fix‚ detrimental to the company‚ should be the last resort Layoffs are done to save money. Unfortunately‚ they are usually a short term fix‚ detrimental to the company. So why do so many companies persist in using layoffs as a first choice for cutting costs‚ and what are some of the alternatives. Sometimes things don’t work out as forecast. Clients delay purchases. Suppliers raise prices. Competitors steal market share. Quarterly‚ at least in
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Objectives of Punishment In today’s society the objective of punishment in the criminal justice system is rehabilitation. The goal is to eliminate future criminal behavior while the inmate serves time for the crime they’ve committed. There is hope that others see the sentences for such criminal activity and future crimes can be prevented. Deterrence is important to apply because it can discourage others who have thought about illegal activity. Incapacitation protects the society because an
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working together as a group. The article‚ Nominal Group Technique: An Alternative to Brainstorming‚ lists some basic steps to follow when using this technique. The steps are (1) Individuals should be groups by five or six people. (2) Position question in open-ended format‚ ex: How can we best facilitate new changes within departments? (3) Allow for quiet time for individual brainstorming. (4) Present all ideas from each group by recording them on flipcharts; during this time no criticism only
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Can you imagine a life in which you never try anything new? How impossibly boring! I concur with that which Ralph Waldo Emerson once posited: "Unless you try to do something beyond what you have already mastered‚ you will never grow." It is important to try new things that one has not already mastered because growth is essential‚ the challenge encourages resilience‚ and there is enjoyment to be gained by doing so. Challenging one’s self is what teaches us to be resilient. Without challenge
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Management by Objectives What is MBO? Management by Objectives (MBO) is also known or referred to as Management by Results (MBR). Management by Objectives is a process whereby the objectives in an organization are defined in order to help the management of the organization and the employees to agree on the same. The concept and the term was coined and popularized by Peter Drucker in the book‚ The Practice of Management in the year 1954. The essence of management by objectives lies in mutually
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are many theories and models such as Taylor’s Scientific Management‚ McGregor’s theory X and theory Y and Mayo’s Hawthorne studies‚ relating to work output and how and what can impact this. Between 1924 and 1932 Elton Mayo carried out a series of experiments known as the Hawthorne studies. Mayo and his team wanted to identify what aspects of workers environment would maximise worker output (Miller‚ 2012). They carried out four phases of experiments and Mayo and his team concluded that worker output
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When I first began to drive I never went over the speed limit‚ I was too afraid of being caught. I was terrified of breaking the law and of the consequences I could face for speeding. I knew that punishments were harsher for drivers under the age of 18 and I didn’t want my license to be suspended. Sometimes I drove even under the speed limit because I was paranoid. I felt as if there was a police officer at the end of every hill‚ curve‚ or a long stretch of road just waiting to catch me speeding
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No. 1 - Four essential steps in the management by objectives (MBO) process Management by objectives (MBO) is a system whereby managers and employees define goals for every department‚ project‚ and person and use them to monitor subsequent performance. Four major activities make MBO successful. MBO is result oriented. Emphasize the accomplishment rather than input. Encourage the participation at all level of organization that means collaborative‚ shared power and self management. A process consisting
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