13Oct 2018 by admin

Useful Notes on Product Life-Cycle Theory of International Trade

Strategy
The product life-cycle theory was developed by Raymond Vernon in the mid-1960s. The theory presents an insightful analysis as to why in the twentieth century a large number of new products in the world were developed by the US firms and sold first in the US market.Vernon pointed out that many manufactured foods, like automobiles, televisions, instant cameras, photocopiers, personal computers, semi-conductor chips, etc. go through a continuum or cycle that consists of introduction, growth, maturity, and decline stages. The location of production will shift to serve markets according to the stage of cycle a product is therein. Stage 1: Introduction: Most innovations take place where there is a nearby observed need and market for them. A Japanese company will develop a new product for Japanese market and a US…
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13Oct 2018 by admin

5 Major Techniques of Stock Taking (Including Merits and Demerits)

Accounting
Various techniques/techniques of stock taking are as follows:1. Periodic stock verification2. Continuous or perpetual or automatic stock verification ADVERTISEMENTS: 3. Spot checks4. Stock out stores verification5. Annual stock taking. 1. Periodic Stock Verification: Periodic stock taking is quarterly or half yearly checking of the entire stock in one or two days. This takes where the stock comprises a few but expensive items. The method followed is similar to the annual stock taking i.e., physical stock of various items is recorded on inventory sheets or inventory card and then compared with the bin card balance. image source: citadelsystems.com ADVERTISEMENTS: While inexpensive items may be checked once a year, expensive and attractive items should be checked three or four times a year. The physical balance obtained at the end of the financial…
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13Oct 2018 by admin

What are the Fixed Factors and Variable Factors of Production? – Explained!

Management
Production is the result of combined efforts of the factors of production. These factors may be fixed or variable. A fixed factor is one, whose quantity cannot readily be changed in response to desired changes in output or market conditions.Its quantity remains the same, whether the level of output is more or less or zero. Buildings, land, machinery, plants and top Management are some common examples of fixed factors. A variable factor, on the other hand, is one whose quantity may be changed in response to a change in output.Raw materials, ordinary labour, power, fuel, etc. are examples of variable factors. Such factors are required more, when output is more; less, when output is less and zero, when output is nil. For the sake of analytical simplicity, semi-variable factors are…
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13Oct 2018 by admin

8 Most Important Factors which Affect the Quantity Supplied of a Company in Isolation

Management
Supply refers to various quantities of a commodity which a producer will actually offer for sale at a particular time at various corresponding prices. Supply of commodity depends upon a number of factors.It is difficult to analyse the effect of a simultaneous change in all the factors. While studying the effect of any factor, other factors are assumed to be constant. Some of the important factors which affect the quantity supplied of a commodity in isolation are as follow. 1. Price: It is the most important determinant of supply of a commodity representing gross earnings per unit of the goods sold. The higher the price of the commodity, more of the commodity will be offered for sale on account of rise in its profitability and vice-versa. The direct relationship between…
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12Oct 2018 by admin

Difference between “Rights in Rem" and “Rights in Personam” – Explained!

Business
The distinction between rights in rem and rights in personam is based chiefly on the difference in the incidence of correlative duties, the division having been derived from the Roman division of the action into an action in rem and an action in personam. Image Source: cdn.publishyourarticles.netRight in Rem: ADVERTISEMENTS: A right in rem is available against the world at large; it is a right available against persons generally. Examples are rights of possession and ownership.Right in Personam:A right in rem is available only against a determinate person or persons, corresponds to a duty imposed on determinate individuals. Examples are the right to receive compensa­tion for false imprisonment or defamation; or the right to recover a debt from the person who owes me the money. Rights under a contract are…
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12Oct 2018 by admin

Speech on Rape (2145 Words)

Management
Here is your speech on “Rape” (2145 Words):Mahatma Gandhi said: “When a woman walks in the streets in the mid night, then only it means that we achieved full independence to our country.” Now the guidelines given Mahatma are ridiculed in our society. To-day, any woman cannot walk in the day light, even accompanying with her father or brother or husband. Day-by-day, the activities of ragging and rape are growing. From time to time, the Legislatures have been bringing new Acts and making amendments to the old laws. image source: media.cathocambrai.com ADVERTISEMENTS: The Supreme Court and the High Courts have been giving newer guidelines and instructions. However, sad to say that all of them become in vain. Sexual offences are enhancing day by day. Their graph, in every police station,…
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12Oct 2018 by admin

Here is your short speech on 'Leadership'

Decision Making
So, then, which is the best leadership style? The simple answer is that there is no single “best” leadership style. It depends upon the situation. image source: donnafishter.comStyles of leadership authority are best displayed on a continuum, from the autocratic to democratic. Very seldom will “autocratic” style be effective in health care settings. ADVERTISEMENTS: In the “consultative” style, the manager presents ideas and attempt to sell the subordinates the decision. The “parti­cipative” style seeks subordinates opinion, the area for decision-freedom for subordinates being greater and use of authority by manager being smaller.Within a “democratic” style subordinates have relatively large area of decision freedom.The above model basically reflects factors in manager’s decision making, but it is useful in understanding leadership behaviour.All effective managers are also good leaders. ADVERTISEMENTS: Based on various…
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12Oct 2018 by admin

Speech on the Importance of “Communication”

Management
Communication, although important in all aspects of management, is particularly important in the function of leading. Communication is defined as the transfer of information from the sender to the receiver with information being understood by the receiver. image source: fra.europa.euOrganization is a social system. Communication is the means by which social inputs are fed into social systems. It is also the means by which behaviour is modified, change is affected and information is made productive. ADVERTISEMENTS: Communication is the force for influencing staff direction. Group activity is impossible without communication. 1. Purpose of Communication: In its broadest sense, the purpose of communication is to influence action towards the welfare of the organisation. The assimilation of information and actions in response to it becomes more and more difficult as the size…
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12Oct 2018 by admin

Get the Complete Information on Mutawalli of a Wakf

Industry
Mutawalli is manager of the waqf-property. After dedication, ownership of the property is vested in God and becomes His property. There must be some person or a human agency who could look after the dedicated property on behalf of God.The person, who supervises or takes over the management of a waqf, is called the mutawalli. He is superintendent of the property. He also distributes the benefits of the property according to the directions laid down in the waqf. A mutawalli has no beneficial interest in the property. He is merely a servant of God, managing the property for the good of His creatures. Image Source: farm4.static.flickr.com ADVERTISEMENTS: Therefore, besides legal duties, a mutawalli has also the religious and moral obligation to take care of the waqf- property. Any mismanagement or…
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12Oct 2018 by admin

15 Important Roles and Functions of Hospitals Administration

Decision Making
The following is a description of the various roles and functions of the hospitals administrator, and activities associated with them. Description of each function and role leads to a key element under that role. image source:dcgh.orgAt the end of each such description, the key element is highlighted. 1. Working with People: ADVERTISEMENTS: The administrator has no direct clinical responsibility for any patients that rests firmly on the members of the medical staff who have the clinical freedom to decide who shall be treated for what, by what means and for how long. Because doctors are responsible in this way, they are in a unique position to influence the work and development of the hospital.The physician’s “management” of a case has an effect far beyond the clinic or ward situation, on…
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