The Board of Directors of your company is considering whether to employ the service of some experts or allow their employees to work on the methods of improving their production process and product brands.
As a manager, how would you advise the board on this decision?
As a manager I would say that the Board of Directors should allow their employees to work on the methods of improving their production process and product brands, because employees know their production system very well. As they are permanent employees, they know the lacuna of their production process and can suggest well where to improve. They have sufficient knowledge about the product brands. They are dealing with the customers directly and know much better about the requirements of customers. Even they know their competitors very well, so they can suggest better ideas to improve their product brands.
Again employees are the backbone of an organization, their
participation in the decision making process is highly essential.
As they are actively involved in the production process, they can
give some excellent ideas regarding the improvement of the
production process, product brands or any other aspects of the
organization.They will feel empowered when they are invited to join
in the decision making process of the company.
It also saves time and money when the Board of Directors allow
their workers to work on the improvement of their production
process, their employees will not take lot of time to analyze the
matter because they are already working on it, where as hired
experts will take lot of time to investigate the matter and make a
thorough analysis on it.
So, my advise to Board of Directors would be, allow employees to
work on the methods of improving your production process and
brands.
The Board of Directors of your company is considering whether to employ the service of some experts or allow their emplo...
The board of director of your company is considering whether to employ the services of some experts or allow their employees to work on the methods of improving their production process and product brands As a manager ,how would you advise the board on this decision? (write about 20-25 lines in the field of Managerial economics)
As the Manager of a growing beauty product company, you are considering widening the product range by launching a new product: a hair dressing tonic. The incremental profit is $700 per unit and the necessary investment in equipment is $39 million. The marketing department has given you the estimated demand as follows: Units demanded 30,000 40,000 50,000 60,000 70,000 Probability 0.05 0.10 0.20 0.30 0.35 QUESTION: 1) Compute the expected profits for all the possible events (states of nature) 2)...
As the Manager of a growing beauty product company, you are considering widening the product range by launching a new product: a hair dressing tonic. The incremental profit is $700 per unit and the necessary investment in equipment is $39 million. The marketing department has given you the estimated demand as follows: Units demanded 30,000 40,000 50,000 60,000 70,000 Probability 0.05 0.10 0.20 0.30 0.35 QUESTION: 1) Compute the expected profits for all the possible events (states of nature) 2)...
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1) Imagine that you are a first-line manager of a department in a relatively small hospital located in a semi-rural area. For many months there had been rumors of a possible merger with another semi-rural hospital half again the size of yours located about 12 miles away. Both administration and the board of directors had been declining to comment on the rumors although it was apparent that some kind of negotiations were underway. In about mid-November all managers were officially...
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