Line Organization This form of organization has several names like Vertical Organization, Scalar Organization, Military Type Organization, or Departmental Organization. This is the oldest and most popular form of organization. It creates a chain of command, which allows the flow of authority downwards, from the top management to the subordinates. In other words, the highest […]
Meaning of Organization The term Organization means to put into working order or arrange in a system. It performs the task of arranging in order the various steps involved in the entire process of production. It is that device through which production is maximised at minimum cost. In other words, the task of establishing effective
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Opposition of Rationalization Rationalization is the process of making something more efficient or logical. In the context of business, rationalization can lead to a number of advantages, such as increased efficiency, improved quality, increased flexibility, reduced costs, and improved decision-making. However, there are also some risks associated with rationalization, including job losses, increased stress, dehumanization,
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Advantages of Rationalization Rationalization is the process of making something more efficient or logical. In the context of business, rationalization can lead to a number of advantages, including increased efficiency, improved quality, increased flexibility, reduced costs, and improved decision-making. However, it is important to be aware of the potential risks of rationalization, such as job
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Rationalization The term Rationalization is derived from the word ‘Rational’ which means to work with reason, logic, and understanding. Under rationalization, the old and obsolete methods of production are replaced by new and scientific methods which help in maintaining the cost per unit at the minimum. Brief History of Rationalization Rationalization was first practiced in
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Meaning of Production Management The term’ Production Management is the combination of two words Production’ and Management. The word ‘Production’ refers to the process of conversion of raw materials into finished goods, ready for sale; whereas the word ‘Management’ refers to the utilization of the factors of production (viz., labor, capital, raw materials, and machinery)
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Functions of Production Management (or Manager) Function of Production Management starts from collection of raw material till the product comes into a shape of final product. Production management refers to decision making regarding the production processes, so that the output is produced according to predetermined standards within the given time at minimum costs, for the
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