Archive about 'Management,Marketing,Law & Taxation'
In an organization, briefly explain the benefits or advantages and disadvantages of decentralization
Tweet Benefits or advantages of decentralization: Easier for senior management to delegate responsibility if the enterprise is split into divisions. By delegating responsibility, the managers might be motivated to work harder Decisions will be made more quickly as the divisional managers will not need to send information up to top management and then wait for [...]
Tweet Role of recruitment consultant: · To perform the staffing function on behalf of the management of the client organization re: filling vacancies with the type and calibre of staff required Tasks of a Recruitment consultant normally includes the following: Analysing, or being informed of, the requirements-the demands of the post, the organization’s preferences for [...]
In Personnel Management,do you think that labour turnover has any advantages to an organization? List a few potential advantages
Tweet Potential advantages of labour turnover in an organization might include the following: Opportunities for an organization to inject “ NEW BLOOD ” . New people brings new ideas and outlook, new skills and experience in different situation. ABSENCE of labour turnover might create an increasingly AGED workforce; Creation of opportunities for PROMOTION AND SUCCESSION. [...]
In Personnel Management, explain what is 360-degree feedback and give the advantages and any pitfalls of this type of feedback?
Tweet 360-degree feedback: Also known as “multi-rater instruments” and “multi-source assessment” Unlike traditional basis where it recognizes that the employee’s immediate boss is not the only or necessarily the best person to assess his or her performance. Designed to enable all the stake-holders in a person’s performance to comment and give feedback which includes the [...]
Tabulate below what are some of the Common goals business organizations aim to achieve when seeking strategic alliance
Tweet Common Goals a business organization aim to achieve when seeking strategic alliance: Cost savings Increased market share Financial stability Supply chain improvement Increased productivity Better competencies and skills Technological sophiscation Improved customer services
Tweet Strategic Alliance: A long term agreement between two or more firms for a certain period of time to achieve mutual benefits Partners agree to cooperate in carrying out business activities to create new strength and capabilities Some of the major reasons for seeking strategic alliances: 1. Improve production efficiency 2. Gain access to new [...]
Tweet Mercantilism Theory: A political economy system developed in the 16th century by the European states to enrich their nations Aimed at generating wealth by limiting imports and encouraging exports Under such theory, the economic growth of a country was managed through International Trade to serve the country’s merchants and entities. Example like the British [...]
In International Trade, what are the some of the level of regional integration and briefly explain them
Tweet In International Trade, there are several level of regional integration which are as follows: 1. Free Trade Area 2. Preferential Trade Agreement 3. Common Market 4. Custom Union 5. Economic Union 6. Political Union FREE TRADE AREA ( FTA): An agreement between two or more countries to remove all trade barriers between themselves. Each [...]
Tweet Unlike the Comparative Advantage Theory which advocates on specializing in activities which is more efficient, Heckshcher-Ohlin Theory advocates that :- A country should specialize in the production of good where the factors of production ( capital,labor, land) favour it. Example like if there is a relative abundance in capital, it will cause the capital-abundant [...]
Tweet One of the many theories of International Trade Comparative Advantage Theory:- Is advocated by David Ricardo suggesting that countries should specialize in the goods they can produce most efficiently rather than trying for self-sufficiency. Views trade as a positive-sum game in which all countries that participate in trading could realize economic gains by reaping [...]