Discussion about incentives for motivation

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The term ‘incentive’ is a word which uses in an organisation or any other places to motivate people. It is also described as a stimulation to better activity. Incentives are the extra benefits in addition of wages or salary. It means extra compensation or advantage to a worker in appreciation of accomplishment or better performs. Incentives encourage or increase eagerness of the workers for improved efficiency.

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Market Surveys-An effective way to get opinion from the target market

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Market study plays an important role to help an organization to identify their target customer of the business so that they can easily enter to the right market in right time. During the time of conducting surveys the surveyor should be creative and consider a wide range of research method and technique.

Some methods of survey are given below: Continue reading Market Surveys-An effective way to get opinion from the target market

What is organizational culture and why it is important?

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An organisation is a general workplace where the people work in united to make money as profits with an employment for themselves. It is such a place where the people can understand the dream and want to make it true. Each organization has its own technique of working which helps to develop the culture of that organisation. The culture is the combination of the philosophy, principles, ethics and standards of an organization. Continue reading What is organizational culture and why it is important?

Importance of Successful Communication Systems for an Organization

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For managers of an organisation successful communication is important because it helps to complete the basic function of management of an organisation which are Planning, Organizing, Leading and Controlling. Managers act upon their duties in the office by help of communication. It serves as a base for planning. All information which is necessary must be informed to the managers sequentially for making plan and to implement them. Continue reading Importance of Successful Communication Systems for an Organization

Factors to be considered for accepting Special Orders

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Sometimes a business may accept a special order at a price that is significantly different from the normal pricing proposal. For that special order, the quantitative analysis will focus on the contribution margin. It must be determined whether the contract price of special order exceeds the variable production and selling costs related to the special order. Continue reading Factors to be considered for accepting Special Orders

Some issues for capital budgeting or expenditure decisions

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For decision making purposes most of the analysis has focused on short term activities and operations. But, managers must consider some high amount of expenditures which is known as capital expenditures that effect for many years. These expenditure decisions relate to creation of new facilities, large expenditure for vehicles and machinery, conduct a new product research and development and related items where the present cost is high and the payback period will very far to come.

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Factors to be considered to discontinue a product or department

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Management must take one of the more difficult decisions which is discontinuation of a business unit that is performing poorly. This kind of decisions can have various effects on the company stakeholders. The tools of Enterprise Performance Evaluation (EPE) help to performance evaluation methods that are useful to identify the lagging sectors.

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Decision based on ‘Make or buy’ the product or service

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Very frequently companies must choose between using outside suppliers or produce the goods or service internally. The term outsourcing uses in many functional areas. For example, some companies outsource for processing data, technical support, payroll services and other operational activities for running a business. ‘Make or buy’ is a frequently used term for manufacturing companies.

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A brief analysis on Decision Making Factors

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As an individual, one can probably think of many things that he wishes he could do. He may has taken an evaluation and regretted some ridiculous error. He realizes the information but drop in his performance. The people of the business sector will experience the same emotions. Maybe goods were delivered using expensive overnight express when less costly ground shipping would have worked as well.

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”Solar Panels” an eco-friendly electric generator.

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Solar panel, the first component of an electric solar power system, is a collection of individual silicon cells that generate electricity from sunlight. The photons (light particles) produce an electrical current as they strike the surface of the thin silicon wafers. Continue reading ”Solar Panels” an eco-friendly electric generator.