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Thursday, April 28, 2011

Management definitions

Management definitions
strategic plans
Strategic plans are defined as plans “Concerned with the overall undertakings of the entire organisation. Strategic planning is initiated and guided by top level management, but its operational success depends on the participation of all levels of management.

An objective in an end result, the end point or something that a manager aims for and tries to reach. A personal manager may have the objective of hiring 14 machine operators by a given data, or a maintenance mechanic may have the objective of completing a tune-up on company vehicle by a given time. Each of these activities might also taught of in terms of goals or targets.

Centralization refers to concentrating the power and authority near the top, or in the head of an organisation.

Management of the functional organisation often employ an integrator, whose main responsibility is to co-ordinate the activities of independent departments. Such integrators cannot be classified as either line or staff. An integrator is an organizational member whose official role is to coordinate or mix the activities of two or more departments in an organisation.. Within the matrix organisation this individual integrates the activities of functional and product departments.

Reasons forshort-run aggregate supply curve shift
A short-run aggregate supply curve may shift due to the following reason:
(i) Shifts arising from labour
(ii) Shifts arising from capital
(iii) Shifts arising from natural resources
(iv) Shifts arising from technology
(v) Shifts arising from the expected price level

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