Management and Supervision

The socioeconomic aspect of a business plan involves looking at how much money your prospective customers are likely to make. This can affect how you price your product in the business plan.

Managing projects requires applying knowledge, skills, and tools and techniques to project activities in order to meet the project objectives. You do this by performing some processes at various stages of the project, as discussed in the previous chapter. That means processes are part of the knowledge required to manage projects. Each aspect of a project is managed by using the corresponding knowledge area. For example, each project has a scope that needs to be managed, and the knowledge required to manage scope is in the knowledge area called project scope management. To perform the project work within the project scope, you need human resources, which need to be managed; the knowledge used to manage human resources is called human resource management.

I guess, by now you have a fair idea of where we are getting to.

Each process belongs to one of the nine knowledge areas:

1. Scope Management

2. Time Management

3. Cost Management

4. Human Resource Management

5. Procurement Management

6. Risk Management

7. Quality Management

8. Integration Management &

9. Communication Management

Each knowledge area has its own place in the project lifecycle and they are all equally important from a project managers point of view. In practical experience you might fine one or more areas to have a greater impact on the outcome of the project, but nonetheless they are all important and play a vital role in the success or failure of a project.

-Not everyone follows the factor

-May not make the person become self-esteem

-It could sometimes de-motivate someone to do their tasks

-Could affect in the wrong way

Vertical management is the traditional Western management structure where each person (except the ultimate boss) reports to someone more senior than them in multiple layers. For example:

Operator->Supervisor->Shift Mgr->Production Mgr->Operations Mgr->President

It has the advantage of clearly defined responsibility with each manager responsible for a relatively small number of direct employees but it can lead to an inflexible system where ideas moving from the top to the bottom of the structure and vice verse pass through so many hands that they get lost or changed on the way. It can also inhibit initiative, for example cooperation between people at the same level in an organisation who report to different managers.

The opposite approach is a horizontal management where the management structure is broken down into as few layers as possible. This approach also has its problems. As always in management there is no single correct answer.....

Sole proprietorship

Profit maximisation providing a day to day focus for management and to ensure investments made by the company, to earn a return that is satisfactory to shareholders.

Yes. Because break even analysis determines the sales level needed to break even in units or dollars (both are numbers) so it is quantitative.

Yes, is the short answer. The manager can put a roster notice on a board with changed work hours on it, without telling you verbally. There are also many other ways of notifying you.

It is usually reasonable for a manager to change work hours to suit the organization. Usually the manager in the interests of a happy workforce will try to fit in with workers' preferences but it is not always possible.

Similarly, the manager may notify you in various ways. By letter, by a roster notice on a board, by email, by a message left on your phone or voicemail or to someone at your home.

If the manager has given you enough notice of the change then there is probably not a lot you can do about it. If you did not get a verbal notice but you did get another notice which you didn't know about, then there is a problem with communication that you have to sort out with your manager.

Elton Mayo's Hawthorne studies were held at the Western Electric Company's Hawthorne Works in Cicero, Illinois, near Chicago. The studies took place in the 1920s and 1930s and focused on how various factors, such as lighting and working conditions, affected worker productivity and morale.

The controlling function involves the evaluation activities that managers must perform

Rather than just trying to inspect the quality of products and services after they have been completed, TQM instills a philosophy of doing the job correctly the first time; improving the quality of goods or services in order to satisfy customer demands.

Advocates of the human relations movement believed that if managers focused on employees rather than on mechanistic production, then workers would become more satisfied and thus more productive laborers

Seek to establish a long-term employment culture within the organization. Use collective decision making as much as possible. Increase and reinforce the importance of individual responsibility

At all phases of the change process, top management representatives must strongly support the change processes and communicate that support to the work force.

You may run out of supplies. If you run out of supplies, all you need to do is to order more supplies. You may also be able to call someone that has some supplies on hand.

No, definitely not, but it is a valid course that teaches how to manage people in different situations, and is particularly aimed at managers in offices dealing with their staff face-to-face on a daily basis.

Good managers facilitate collaboration among team members, stakeholders, and subject matter experts in order to identify products, services and other deliverables and the tasks required to create and deliver them. Bad managers "shoot from the hip," issuing summary decisions without input, and rely on the authority inherent in their position to get alignment from their direct reports.

The Project Management Body of Knowledge, 4th Ed. (usually referred to as the PMBOK) includes brief descriptions of 42 common project management processes organized into five process groups and nine knowledge areas. It's a good resource for planning techniques, for both project managers and line managers.

simple when someone need it :P

Project managers, as the name implies, manage projects. Project Management International defines a project as "a temporary endeavor, undertaken to create a unique product, service, or result." Projects have a beginning and an end, and specific funding, a budget, scope, and schedule. Project managers work with a project sponsor to identify the project scope and deliverables, develop a project plan and schedule, staff the project, acquire resources, and deliver the product, service, or result. Project managers might manage development of a software application, or construction of a building.

In most cases, the peole assigned to a project do not report to the project manager for career purposes; they come and go as needed, and are simply accountable for their deliverables. Generally, project managers are assigned to manage one project after (or concurrently with) another, and frequently work with different people on each project. Some project managers specialize in particular subject matter areas or product lines, while others are generalists. Project managers spend most of their time communicating with team members, stakeholders, subject matter experts, and their project sponsor. They are accountable for completing their project on time, on budget, and in scope, or for a recommendation to cancel the project if it's no longer feasible or desirable.

Production managers, also known as line managers, manage a particular business or manufacturing function that delivers a specific product or service, over and over again, through repeatable processes. Production operations have a permanent staff, and are generally timeless, meaning that they don't have a discrete beginning, nor an anticipated end. Generally, a production manager stays with one production function for an extended period of time, and become specialists in their product or service. Production managers spend much of their time optimizing their production processes, communicating with suppliers, customers, and team members, and with their management team. Production managers might manage an auto assembly line, or a payroll department.

Production managers are usually responsible for the career development and discipline of the employees who report to them in their production area. Production managers are usually accountable for minimizing cost, maximizing profit, maintaining quality and safety standards, or some combination of these.

the Target brand proves to be capable of making a high profit. Target's industry faces several barriers to entry. First, Target and its current nation-wide competitors enjoy significant economies of scale. Purchasing inputs in bulk enables Target to reduce pricing in their stores. Also Target benefits from brand loyalty with their customer which makes it difficult for competitors to gain customers. Due to its high level of power as a buyer, Target purchases large quantities of products, has many choices between equivalent products, and the corporation can easily switch between the offerings of different firms. Target is able to demand a decrease in prices from the sellers due to its high volume of purchases and its large selection of choices. If company wants its products on the shelves of target it must listen to Target's demands. Again, due to Target's high level of power as a buyer it is able to switch its product inputs without enduring a large cost. The third force of the bargaining power of the suppliers holds little relevance to Target in that Target's suppliers hold little power over the prices of their inputs. This occurs because Target can easily switch suppliers if one does not cooperate with its desires. The threat of substitutes, another force, proves important to the target corporation.

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A mathematical method is a group of steps taken that will always give you a correct formula, in every scenario. Mathematical methods are found everywhere including algebra, geometry, calculus and in almost all other fields of math.

basically means, the efforts that will be taken by a firm in order to overcome its issues or in other word, resolve them