organizational chart

Modes of Strategic Planning There are three different modes of strategic planning. These are depicted in a diagram, listed and explained as follows:Image Credits � Moon Rodriguez. 1. Entrepreneurial Mode In entrepreneurial mode, strategic planning is done by one person. He takes the full responsibility of planning for the production department. That is, he does production planning on behalf of

What is Strategic Planning for Production? Definition The definition of strategic planning for production is quoted below."Strategic planning for production implies focusing on the alignment of production management within an organization with its corporate and business strategies to gain a strategic advantage."Image Credits � Motion media works. Meaning of Strategic Planning for Production

Different Types of Production Strategies The different types of production strategies are grouped, listed and explained under following three categories, viz.,The types of production strategies under Business Strategies are as follows:Differentiation strategy Cost leadership strategy Market segmentation strategyThe production strategies under Competitive Priorities are as follows:Price or cost

Developing and Implementing Production Strategy Steps for developing and implementing production strategies are as follows:Image Credits � Moon Rodriguez.Fixing organisational objectives Developing production and other strategies Selecting the production strategy to be used Selecting the production process Selecting production infrastructure Implementing production strategiesNow let's discuss

What are Production Strategies? Meaning Production strategies are broad long-term action plans. They are made for achieving the main objectives of organisation. Production strategies tell us what the production department must do to achieve the top aims of the organisation. It provides a road map for the production department.Image Credits � Joey Ganoza.So, production strategies are long-term

Functions of Production Management Functions of production management are depicted, listed & explained below.The components or functions of production management are as follows:Selection of Product and Design, Selection of Production Process, Selecting Right Production Capacity, Production Planning, Production Control, Quality and Cost Control, Inventory Control, and Maintenance and Replacement

What is Production Management? Meaning Production management means planning, organising, directing and controlling of production activities.Production management deals with converting raw materials into finished goods or products. It brings together the 6M's i.e. men, money, machines, materials, methods and markets to satisfy the wants of the people.Image Credits � jovijovijovi.Production

Benefits of financial planning The benefits of financial planning are depicted below.Image credits � Prof. Mudit Katyani.The financial planning is beneficial in terms of following points:Forecast of cash flows. Raising finances. Managing the flow of internal funds. Facilitate cost control. Facilitate pricing of product. Forecasting profits. Measuring required returns. Managing assets. Managing

What are the Rights of Shareholders? First let's understand the meaning of words, rights and shareholders.Rights represent something that is due to an individual or any government body by nature, law, tradition, etc. Shareholders are those people who invest funds in the share capital of a company. In a company, the ownership is separated from the management. The shareholders are the owners of a