Business economics can be simply viewed as the application of economics for the analysis of business. Business, on the other hand, is an economic activity. There is a need for objectively analyzing structure scope, efficiency and growth of business Economic analysis is done to provide objectivity. …
Juran was invited by the Union of Japanese Scientists and Engineers to Japan in 1954. His lectures to the Japanese introduced the managerial dimensions of planning, organizing, and controlling which were focused on the responsibility of top management to achieve quality and the need for setting …
Statistical Quality Control Definition Statistical Quality Control SQC developed in the United States in 1930-40 by W.A Shewhart, and used for decades in American and Japanese companies. The basic approach consist the following steps; Awareness that a problem exists Determine the specific problem to be solved …
W. Edward Deming defines quality as a predictable degree of uniformity and dependability, at low costs and suited to the market. He was the one, who popularized quality control in the early 1950s in Japan. He Developed a System of statistical quality control. Deming stresses on …
What is Marketing Marketing is dealing with customers, creating customer value and satisfaction. Sound marketing is key to success for companies. In today’s competitive markets both the profitable large scale organizations like McDonalds, Pepsi, Sony or nonprofit organizations like hospitals, universities are involve in marketing which …
Basically there are five different concepts of marketing according to which businesses conduct their marketing activities. Following are the marketing philosophies: The production concept. The product concept. The selling concept The marketing concept The societal concept. THE PRODUCTION CONCEPT The Production Concept Production concept is one …
Following are the 4 Stages of Product Life Cycle: Introduction Stage Growth Stage Maturity Stage Decline Stage INTRODUCTION STAGE OF PLC Here the product is launched at the first time. At this stage the sales growth is very slow, the causes of slow growth sale are: …
Scope of Management Man is gregarious by nature. Since the dawn of civilization, and even before it, human beings have been flocking together to form groups, tribes and races. The age of living alone, all by ones self are over thousands of years ago. Human beings …
