Bachelor of Business Management BBM

Scientific Management Theory is a theory of management concerned with the physical efficiency of an individual worker. The main objective was to improve economic efficiency and labor productivity. They wanted to be fair to the workers for a days work. To explain how the individual's motivation works strictly as a function of economic reward. :)

1. The problem of human input: The fact that human is unpredictable shows that it may not always work as the law states.
2. External and unforeseen changes: This includes technological breakthroughs, natural disasters...
3. Situational: Economic theory needs to be situational. While it may be appropriate to apply a particular theory into this situation, it may not be so in other situations.

How does economic theory contribute to managerial decisions?"

Scientific Management Theory is a theory of management concerned with the physical efficiency of an individual worker. The main objective was to improve economic efficiency and labor productivity. They wanted to be fair to the workers for a days work. To explain how the individual's motivation works strictly as a function of economic reward. :)

Someone once told me,

at the end of your life when you are old, fragile, perhaps sitting in a wheelchair, nursing home, or on life support, what will be important to you?

Will it be what you've accomplished at your job?

Sure, it's great that you drove the Revenue of your company to all time highs or that you've spoke publicly at seminars around the world, you were great but that is over now- you are not associated with your job anymore so was it worth skipping the ballet recital for a meeting?

Will it be the money you've made? so what your wheelchair is made of white gold and your trips to the hospital are traveled in a hummer? that won't bring you a deep fulfilling happiness

Will it be all the Knowledge you've acquired? will the massive hours of studying, and research keep your heart and soul warm at night?

NO.

Success will be the genuine love you feel by the people that surround you, If you spend the time to hang out with friends, help your neighbors, bond with your family and children, take the time out to ask your mailman or gardener how their day is going then , at the end of your life when people are visiting, calling, surrounding and spending time with you -

that is when you feel in return the warmth you have cultivated and nurtured for yourself and others for so many years, this is to have succeeded

The importance of communication in industrial relations is for effective leadership and morale building. It is also important for coordinating and job satisfaction.

transaction exposure relates to the risk of exchange rate movements relating to current investments. In other words investments which are already contracted for. Economic exposure relates to the risk associated with exchange rate movements which may affect future cash flows.

Economic resources are resources that can be exchanged for and valued using monetary means. For example real estate, services, and natural resources like oil, gold and diamonds are economic resources. Non economic resources are items that cannot be measured monetarily. Some examples include the great view of a mountain range from a cabin, fresh air, rain, and sunshine.

responsibilities of managerial eeconomic

Managerial economics (also called business economics), is a branch of economics that applies microeconomic analysis to specific business decisions. As such, it bridges economic theory and economics in practice. It draws heavily from quantitative techniques such as regression analysis and correlation, Lagrangian calculus (linear). If there is a unifying theme that runs through most of managerial economics it is the attempt to optimize business decisions given the firm's objectives and given constraints imposed by scarcity, for example through the use of operations research and programming.(the things mentioned above are ___________)

budget line in economics can be defined as a line which shows the various combinations of two products that can be bought in a fixed or given income.the budget lie graph is a downward sloping line whose gradient shows the ratio between the prices of two goods X and Y.there will be a parallel shift in the budget line due to an increase or decrease in income!points insyd the budget line are inefficient since income is saved and outside the line they become infeasible.

The human relations approach says; A happy worker is an efficient worker.

that means if an organization can keep its workforce happy, it would bring more prodctivity and more profit because if a worker is happy with the emoluments and all the benefits that he deserves and the organization provides, he will have a sense of belongingness towards the organization and would do utmost efforts to lift the organization up in the market.

Write down 100 words to make a paragraph. End and begin it with the word example.

1. Supplier's power

2. Threat of subtitute

3. Buyer's power

4. Barrier's to entry

5. Rivalry

Management is a process of forward planning, decision making, co-ordinating, communicating and motivating the subordinates to achieve the objective of an organization.

MECHANICAL EXPOSURE IS TO DEVELOPED YOURSELF BY GETTTING AN IDEAL EXPERIENCES AND PRACTICE IN SEVERAL MECHANICAL EQUIPMENT PARTICULARLY IN MAINTENANCE AS WELL AS IN OPERATION.

what is the entry for an excess payment from customer

In management, authority is the right or power assigned to an executive or manager in order to achieve certain organizational objectives. Authority is essential in the job of the management. It indicates the right and power of making decisions, giving order and instruction to suborddinates. Those must be accepted by the subordinates or middle level managers as it is ddelegated by top managers. So, because of this it flows downwards. It is also known as the right to give orders and the power to extract obedience.

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retailing means buying in bulk from the wholesellers and selling in smaller quantities to the consumers while wholeselling means buying goods from the producers and selling in bulk at a higher price to the retailers

Edit:

The previous answer was quite possibly the worst answer I have ever read, here is something which is a little better.

Proactive leaders are leaders whom expect the workplace to produce a high amount of produce, but keep good relations between the leader and employees to keep a good relationship and also make sure that the workplace is full of motivated workers. Proactive leaders are good when it comes to problem solving, they are able to work out the capabilities in their teams, and like to offer rewards to employees who stay behind an extra hour, produce more, etc. per day. This motivates their employees to produce more work in return for an intrinsic or extrinsic reward. This is a really effective leadership style as they are able to build teams whom enjoy working together and makes sure that each employee is trained to do the specific job set, these leaders expect the best from their employees by giving them their best.