Work measurement
Work measurement Work measurement is the work study involved in determining the standard time within which the activity or operation or job or element of …
Work-study/Work Design
Work-study Work study or Work design is the process that executes method or motion study and work measurement to determine the best possible ways of …
Types of Coordination
Types of coordination Coordination plays important role in organization. There are four principles of coordination which helps coordination to be successful. The coordination implemented in …
Coordination
Coordination in Business Organization Coordination is the process that makes possible the interconnectedness between individual groups and departments or functional areas to achieve a common …
Characteristics of services
Characteristics of services Perishability Services are intangible and they cannot be stored like physical products. Services are required to be produced at the time of …
Operations Management Challenges
Challenges of operations management Meet the customer’s expectations or need Since many decades all the business organizations have been facing the challenges regarding how to …
Operations Management System
Operations management system Operations management is the process of management that executes the processes or operations to convert input into output which is in the …
Types of Accounting Costs
Types of costs Direct cost Direct cost is the Cost that is directly related to the activities of producing goods or services. The direct cost …
Theory of Comparative Advantage
Theory of Comparative Advantage David Ricardo the British economist introduced the theory of comparative advantage in 1817. This theory belongs to international trade and describes …
Opportunity Cost
Opportunity cost Opportunity cost is the cost of forgoing another alternative that has not been selected but could be. It represent the value of another …