A partnership must be a result of an agreement between two or more individuals.The agreement must be built to share the profits.
A sole proprietorship is a one-man business organization.It is the type of entity that is fully owned and managed by one natural person.
Following are the different types of industrial ownership, Single ownership (Sole proprietorship)Partnership, Joint Hindu undivided family
Types of production systems are as follows: An Intermittent System, Continuous System. This system is analogous to a mass production system.
The productivity index is used to compare the productivity during the current year with the productivity during the base year.
Benefits of increasing productivity to the workers and management are as follows: For Management: It helps management:To earn good profit.
A Objectives of Productivity Measurement:To study performance of a system over time.To have relative comparison of different systems.
Productivity is a ratio of actual output (production) to what is required to produce it (inputs). Productivity = Output/Input
Recent Developments have taken place in the Field of IM:Several forces are significantly shaping management practices today.
Applications of industrial management are as follows: Pre-production Planning: Plant location, capacity planning, selection of machine.