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Introduction to Production and Operations Management

Introduction to Production and Operations Management

Leave a Comment / Production and Operations Management /

Production and Operations Management is the combination and transformation of resources into value-added products/services in a controlled manner adhering to organization policies. The management of manufacturing of certain products is termed Production Management while these management activities resulting in services management are termed Operations Management. Historical Perspective for Production and Operations Management Production and Operations […]

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Functions of Production Management

1 Comment / Production and Operations Management /

Production management’s primary goal is to add value to the organization and its products. It ensures that the goods and services businesses provide to their customers are of high quality and meet their needs. Functions of Production Production management nowadays has a wide range of responsibilities. Selecting a product and its design A prerequisite for

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Scope of Business Environment

Scope of Business Environment

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The scope of the term business environment includes in a broad sense both internal and external factors impacting the business, it is commonly used for external factors. Identifies Business Opportunities and Threats Businesses can identify a variety of possibilities and risks thanks to the business environment. When a business can quickly identify market opportunities, they

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9 major factors driving Globalization

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Globalization is the process of eliminating barriers to trade between countries in order to enhance the integration, interconnectedness, and connectivity of manufacturing processes and capital markets, as well as the movement of financial resources, products, and services across borders, thus facilitating international trade and economic development in intricate ways. Globalization Factors The digital revolution: The

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Strategies for Segmenting and Targeting

4 POWERFUL STRATEGIES FOR SEGMENTING AND TARGETING

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Marketers have defined five basic strategies for segmenting and targeting market identification: undifferentiated marketing or mass marketing, differentiated marketing, concentrated marketing (niche marketing), and micro marketing (hyper-segmentation). Different strategies for segmenting and targeting Mass marketing (undifferentiated marketing) Undifferentiated marketing/mass marketing is a method of reaching out to as many people as possible in order to

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FINANCIAL MARKETS

Financial Markets: Dynamic Powerhouse of a Thriving Economy

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Financial markets are the institutional arrangements for trading various types of financial assets and credit instruments such as currency, cheque, bank deposits, bills, bonds, and so on. The financial system of an economy operates through financial markets and institutions. Functions of Financial Markets These are the major functions of Financial Markets Types of Financial Markets

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DECISION-MAKING ENVIRONMENTS

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Decisions are made in all areas of human endeavor. A glance at the newspaper headlines reveals the breadth of the range. The decision-making process involves economic, political, social, and technical considerations. However, the same decision-making process that may be observed for events worthy of inclusion on the front page of ‘Business Standards’ underpins even the

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