This article discusses about the problems and limitations of research which require attention. Some challenges are: Absence of Training, Not enough Interaction, Lack of Confidence, Absence of Code of Conduct and Costly Publishing.
Management Articles & Notes
This page is dedicated to management articles, notes, tips and resources. You can find articles on a variety of topics related to management here.
In simple words, management is the art of getting things done through others. In other words, management in all business activities is considered the act of coordinating the efforts of individuals to achieve objectives and goals making use of available resources wisely. Management is frequently covered as a factor of production together with equipment, materials, and funds. Management includes the manipulation of human capital within an organization to help with the success of a business. In a commercial business, the main function of management is the satisfaction of a number of stakeholders. This usually requires making a profit, producing valued goods at affordable prices, and giving rewarding job opportunities for workers.
The basic economic problem of society is that resources are scarce compared to the purposes to which they could be put. Because of this choices must be made concerning how to use resources in an efficient manner. The basic economic problem is therefore frequently labelled as ‘scarcity and choice’.
A strategic alliance is a long-term value-creating relationship. It is a positive partnership between two or more businesses that increases revenue, industry reach and internal knowledge. Strategic alliances have emerged to fix many business issues, and to encourage collaboration and innovation.
Operations Research features a wide range of problem-solving techniques like Mathematical models, Statistics and algorithms to assist in decision-making. The name operation research originated in the year 1940. During World War II, a team of scientist (Blackett’s Circus) in United kingdom utilized scientific methods to research military operations to win the war. Right now, the usage of operations research techniques have spread out from military to a number of sectors at all levels.
A selection of a suitable organization structure relies upon several aspects. Despite this the primary contingency factors influencing organizational design are : size, environment, strategy, and technology. Organizational design is the process of choosing and executing a business’ structure. This can include establishing a chain of command, determining organizational elements and assigning resources.
Management is effectively and efficiently combination of both art and science. Management as art is the active task of managing. It includes getting results through practical applications of knowledge and skills. Science is a systematic body of knowledge that is universally accepted. F.W. Taylor father of scientific management was probably the first person to think about management as a science.
In a strategic alliance, a minimum of two companies share resources, capabilities, or distinctive competencies to go after some common goal. Strategic alliances usually transcend the narrower focus and shorter duration of joint ventures. These alliances could possibly be targeted at global market dominance within a product class.
Strategic alliance is a type of corporate partnering. It is the joining of several businesses to exchange resources, share risks, or divide rewards from a joint business. It can take a variety of forms like: a robust relationship with a significant client, an alliance with a source of distribution, a relationship with a supplier of innovation or product, or an alliance in search of a common objective.
Strategic Alliance Formation is now vital to the way big organizations carry out business. Scanning the business environment for opportunities is the starting point for developing a business partnership. It has the business’s assessment of its own strong factors, weaknesses, opportunities and threats.
Global business partnerships are usually established when a company wants to edge into a related business or new geographical market. International Alliances help to lower the numerous risks involved in the business, additionally, it provides several benefits – Economic, social, technological, Ethical, socio-economic, behavioral, functional and geographical benefit.