1. How will you get sales volume?
The sales volume variance for a product measures how much revenue the product brought in for the company based on actual sales volume versus the revenue the company expected to make based on sales volume projections. The sales volume variance figures for your company's products can help you to make more accurate estimates of the amount of revenue products will bring in the future.
2. Organizing is the function of management which follows planning. It is a function in which the synchronization and combination of human, physical and financial resources takes place. All the three resources are important to get results. Therefore, organizational function helps in achievement of results which in fact is important for the functioning of a concern. According to Chester Barnard, Organizing is a function by which the concern is able to define the role positions, the jobs related and the co- ordination between authority and responsibility. Hence, a manager always has to organize in order to get results.
MANAGEMENT functions
1. Management is the art of getting things done through other people. It includes the personnel who have the right to make decisions that influence companys affairs.
2. There are three management levels: top management, middle management and operating management. Top management includes the president, vice presidents, and the general manager. Middle management includes department managers and plant managers. Operating management includes supervisors, foremen, etc.
3. The most important responsibility of any manager is decision making. Successful management is a skill of choosing from alternatives.
4. Decision makings are divided into: recognizing the problem, defining and analyzing the problem, evaluating alternative solutions, choosing the most favourable solution and implementing the approach chosen.
5. Management functions are planning, organizing, directing, controlling, staffing and innovating. It should be noted that successful management is based on three basic elements: leadership, motivation and communication.
6. To operate a successful business one should have management skills because effective management is the key to business success.
4. May the insured person be placed in better economic position that he occupied before the insured loss occurred? Why?
Until 2011, there had been only one RCT of health insurance. Most of the studies of health insurance are panel studies. You take years worth of data from the same people, like census surveys, or the National Health and Nutrition Examination Survey. You start with year one and divide people into groups: those who have insurance, and those who don't. And then you look at what happens to them over time. There are some problems with this, of course. For one thing, those people didn't necessarily stay uninsured; most people who are uninsured lose insurance for only a few months. And the surveys don't necessarily have all the data you'd ideally like to look at to see the effect of insurance on health. So these studies have tended to focus on mortality, because it's a piece of data that virtually every survey collects, and it's fairly unambiguous. We all agree on what it means to be "dead". And also, that being dead is definitely very bad.
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5. What does the industrial market consist of
The marketing concept for the business enterprises of industrial buyer is tode fine the needs of a target market and modify the organizations product or service to satisfy those needs more successfully than its competitors. The marketing concept is applicable and important in both the industrial and consumer markets due to the differences in terms of the nature of markets. It is evident that consumer marketers have embraced the marketing concept more fully than their industrial counterparts because Industrial customers like organizations-businesses, institutions, and government agencies having unique needs. The industrial marketing concept involves more than facilitating exchange with these customers because it is based upon the structure of a partnership between buyer and seller for the purpose of achieving the organizational goals of both. Generally, industrial organizations tend to be technically oriented-much more interested in a particular product and its technical development. Many managers in such firms are promoted out of engineering and research and development departments. Sometimes technical values tend to dominate their decision- making. When it happens, there is a risk of becoming so charmed with a technical accomplishment or particular product parameters that the necessary flexibility for responding to customer needs in a competitive market place disappears. It is more the problems customers are attempting to solve.
what does a personal manager want to know, while he is employing the staff
Want to know more dumb things that managers do? You can avoid doing the dumb things that managers do that undermine their effectiveness if you know what they are.
Talking with an experienced manager to prepare to write this article, I was struck by what he said: The biggest mistake I've seen managers make - and I've seen it quite a few times - is to assume that you know what's going on. He also added his favorite quote from Peter Drucker. "Most of what we call management consists of making it difficult for people to get their work done." You can avoid these traps that keep you from effectively managing employees and projects.
In your efforts to stay on top of things in your department, push the burden to employees.
Acting like a lazy slacker.
Listen and respond to complainers first.
Fail to think beyond your own little world and thus, neglect to communicate important information to employees.
Gossip or exchange information about your staff members with other employees in the department, or for that matter, with anyone.
7. why do business people play so much attention to the way their offices look like?
When we see or hear the word "business", however, we think first of all not of different shops, factories or mines, but of offices. Modern business is done chiefly in an office. A businessman usually spends his working day there. That is probably why business people pay so much attention to the way their offices look like. I am sure you can easily imagine this place
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8.What are the basic categories of business today?
Creators
o Businesses whose model is based on creation acquire raw materials or components from suppliers and assemble them into a product. Manufacturing industries and construction follow this business model although creations are not always physical assets. For example, a software company can follow a business model based on creation although its inputs and outputs are both intangible.
Distributors
o A distributor will buy a product from someone and sell it to someone else, usually adding value in the process. This added value can come from transporting the product, packaging it or providing support and service. Wholesale and retail trade are examples of distribution-based models. A web-based digital music store can use a distribution-based model, even if no actual physical goods trade hands.
Landlords
o Landlords sell the right to use, but not own, an asset. This does not need to be an actual physical asset as in the case of a literal landlord. For example, a banker loaning money or a consulting firm loaning human assets is also following a landlord business model.
Brokers
o A broker does not own the product being sold, but he has the information, contacts or infrastructure required for matching buyers to sellers, usually for a fee or a commission. Real estate and the stock market are typical users of the brokerage business model, as are online companies that match advertisers with popular Web pages.
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9. What are the secretarial duties?
9. A secretary, personal assistant, or administrative assistant is a person whose work consists of supporting management, including executives, using a variety of project management, communication, or organizational skills. These functions may be entirely carried out to assist one other employee or may be for the benefit of more than one. In other situations a secretary is an officer of a society or organization who deals with correspondence, admits new members, and organizes official meetings and events.
A secretary has many administrative duties. Traditionally, these duties were mostly related to correspondence, such as the typing out of letters, maintaining files of paper documents, etc. The advent of word processing has significantly reduced the time that such duties require, with the result that many new tasks have come under the purview of the secretary. These might include managing budgets and doing bookkeeping, maintaining websites, and making travel arrangements. Secretaries might manage all the administrative details of running a high-level conference or arrange the catering for a typical lunch meeting. Often executives will ask their assistant to take the minutes at meetings and prepare meeting documents for review.
10. Where will you locate your business???
Once you have decided that you are going to start a business one of the biggest considerations that you are going to have will be where to locate it. For some types of businesses like retail this is critical, for others it is less important but still something that you have to think about.
The location of your business is going to depend heavily on what type o business you have. If you are starting a retail business you are going to have to make sure that you are in an area where there are lots of customers. One the other hand if you are starting an industrial business your biggest consideration is probably going to be making sure that you can get supplies in and finished products out easily. You are also going to have to think about things like zoning laws to make sure that you are allowed to start that type of business at that location.
You are also going to have to think about any special requirements may be specific to your business type. For example if you have retail business you pretty much have to be on street level. However if you are running an office type of business this may not be desirable. You will also have to consider things like the plumbing, gas and electrical set up. If you are starting a restaurant for example you will need to make sure that you have the plumbing and gas set up that you will need. You are also going to have to think about your space requirements and also about the possibility that you may want to expand the business down the road.
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11. What is a contract based on?
It is a type of
contracting with (1) a clear set of objectives and indicators,
(2) systematic efforts to collect data on the progress of the selected
indicators, and (3) consequences, either rewards or sanctions for
the contractor, that are based on performance.
12. what would you do to train, control and direct subordinates?
Plan, Control, Direct Activities of Others: "organize work and direct its completion through the services of others; prime responsibility for developing the will to work in the employees, thereby motivating them to a higher level of attainment; ability to translate plans and policies into effective production or attainment of established objectives; know what is to be done and how to do it; relay instructions to subordinates so as to complete the demands effectively."- The Management Dictionary
Plan, control, direct activities of others, required to organize work and direct its completion through supervised activity of others; responsibility to cause or motivate the will to work by others; responsibility for work performance and results by others; translate plans and policies into effective production or attainment of established objectives.
13.What is market?
A market is an environment that allows buyers and sellers to trade or exchange goods, services, and information. These interactions define demand and supply characteristics and are therefore fundamental to economies.
A market can be defined as a place where any type of trade takes place. Markets are dependent on two major participants buyers and sellers. Buyers and sellers typically trade goods, services and/ or information. Historically, markets were physical meeting places where buyers and sellers gathered together to trade. Although physical markets are still vital, virtual marketplaces supported by IT networks such as the internet have become the largest and most liquid.
