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The production management entails the creation of wealth. This is because in the manufacturing operations, the production management includes the responsibility for the product and the process design. It also deals with the supervision and organization of the workforce.

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What does management studies entail?

It entails learning how to become a manager. You will learn everything that is needed including the best business practices to be successful.


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The three primary responsibilities of a finance manager are financial planning, investment management, and risk management. Financial planning involves creating budgets and forecasts to guide the organization’s financial strategy. Investment management focuses on optimizing the company’s portfolio and making strategic decisions on asset allocation. Finally, risk management entails identifying, analyzing, and mitigating financial risks to ensure the organization's stability and growth.


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Does production management entails creation of wealth?

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Definition of operation management and production management?

I believe that Production Management is a part of Operations Management. Operations is the bigger picture of various functions that affect the overall process and quality of an organizations services or manufacturing. Here is a definition of Operations Management that lists "production management" as a part of the whole. In business, all the different aspects of operations is typically overseen by the COO or Chief Operating Officer. Most people do not know what business operations entails because it tends to be a broader discipline. Unlike project management, which has defined completion to a task; operations management deals with processes, resource allocation, and quality to run the business day to day in an efficient and effective manner. APICS The Association for Operations Management also defines operations management as "the field of study that focuses on the effectively planning, scheduling, use, and control of a manufacturing or service organization through the study of concepts from design engineering, industrial engineering, management information systems, quality management, production management, inventory management, accounting, and other functions as they affect the organization".[1]


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Strategic management integrates are a functional management into a whole.It is oriented toward achieving organization wide goals.It considers a broad range of stakeholders.It entails multiply time horizons.It is concerned with both efficiency and effectiveness.


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