Supply chain management is the integrated process-oriented planning and control of the flow of goods, information and money across the entire value and supply chain from the customer to the raw material supplier. AED Automation GmbH. Complex production and delivery processes confront companies with huge challenges. What is supply chainRead More →
Something that is inexact is not precise or accurate. adj. (Antonym: exact) Forecasting was an inexact science. Why is management is not viewed as an exact science but rather inexact science? Management is also a science neither visible nor complete like other scientific knowledge. The chance of its total visibilityRead More →
A business continuity plan (BCP) is a process that outlines the potential impact of disaster situations to business operations. It creates policies that respond to various situations to ensure a business is able to recover quickly after a crisis. The main goal of a BCP is to protect people, propertyRead More →
A Dividend Aristocrat in the making At its current pace, Waste Management is on its way toward becoming a Dividend Aristocrat. … Waste Management has increased its dividend payment for 18 consecutive years thanks to its consistent FCF generation. Is Kinder Morgan a dividend aristocrat? Enbridge has been paying outRead More →
Operations management (OM) is the business function responsible for managing the process of creation of goods and services. It involves planning, organizing, coordinating, and controlling all the resources needed to produce a company’s goods and services. What is Operation management with example? The Goal of Operations Management For example, ifRead More →
Working Capital is obtained by subtracting the current liabilities from the current assets. … Working Capital indicates the liquidity levels of companies for managing day-to-day expenses and covers inventory, cash, accounts payable, accounts receivable and short-term debt that is due. What are the 4 main components of working capital? 4Read More →
According to the text, below are the five steps to managing accounts receivable: Determine to whom to extend credit. Establish a payment period. Monitor collections. Evaluate the liquidity of receivables. Accelerate cash receipts from receivables when necessary. What is the meaning of receivable management? Management of receivables refers to planningRead More →
With the majority of the firm traveling four, five or more days per week and reporting that they average upwards of 70-hours ever week, when you’re on with McKinsey, you’re really on. But the firm’s Take Time initiative allows consultants to step away from their desks for sabbaticals between projects.Read More →
Management is science because of several reasons—it has universally accepted principles, it has cause and effect relationship, etc, and at the same time it is art as it requires perfection through practice, practical knowledge, creativity, personal skills, etc. Management is both art and science. Why is management important in art?Read More →
During a crisis, incentives and motivations change, potentially leading to new cooperative behaviors and even to the creation of new systems or structures. Crises can get the collective adrenaline flowing, focusing minds to solve the problem at hand. What is effective crisis management? An effective Crisis Management Plan should: DetailRead More →