Importance of Work Study 1. Work study is a means of enhancing the production efficiency(productivity) of the firm by elimination of waste and unnecessary operations. 2. It is a techniques to identify non-value adding operations by investigation of all the factors affecting the job. 3. It is the only accurate and systematic procedure oriented […]
Procedure/Steps involved in Work Study The basic procedure of work study is as follows: Select the job or process to be suited. Record from direct observation everything that happens in order to obtain data for analysis. Examine the recorded facts critically and challenge everything that is done,considering in turn:the purpose of activity,the place where it […]
Work Study Work Study is the systematic examination of the methods of carrying out activities such as to improve the effective use of resources and to set up standards of performance for the activities carried out. A generic term for those techniques, particularly method study and work measurement, which are used in the examination […]
Value Analysis Value Analysis is one of the major techniques of cost reduction and control. It is a disciplined approach which ensures the necessary functions for the minimum cost without diminishing quality, reliability, performance and appearance. Before understanding the meaning of phrase “value analysis” it is important to know the meaning of the word […]
The Productivity Cycle The productivity cycle consists of productivity measurement,productivity evaluation,productivity planning and productivity improvement,in that specific order.Accordingly,these are the four phases,or stages,of a formal productivity program.An organization desirous of taking up a productivity program must begin with productivity measurement.After the productivity levels are measured, they must be evaluated,or compared against the corresponding planned […]
Management challenges in on-line retailing While changes in retailing may b e driven by technology ,managerial vision is required for successful implementation. Traditionally,retailing has been a low-tech environment in which retailing executives often relegated technology issues to back-room operators.These managers are most at risk as they do not have a clue that a major […]
On-line mercantile models from customer perspective The on-line consumer expects quality,convenience,value,low price and control.To meet these expectations and understand the behaviour of the online shopper,there is a need for a business process model that provides a standard product/services purchasing process from an interactive services and merchandising point of view. Consumer mercantile activities canbe grouped into […]
Internet based Business Models In the most basic sense, a business model is the method of doing business by which a company can sustain itself — that is, generate revenue. The business model spells-out how a company makes money by specifying where it is positioned in the value chain. Business models have been defined […]
Mobile Commerce The phrase mobile commerce was originally coined in 1997 by Kevin Duffey at the launch of the Global Mobile Commerce Forum, to mean “the delivery of electronic commerce capabilities directly into the consumer’s hand, anywhere, via wireless technology. M-commerce (mobile commerce) is the buying and selling of goods and services through wireless handheld devices such as cellular telephone and personal […]
Digital Commerce Digital commerce (D-commerce) is a type of e-commerce used by an organization that delivers and sells products online. D-commerce is used by companies that sell news, subscriptions, documents or any form of electronic content, and the digital commerce company collects payments, handles customer refunds and billing and manages other accounting functions for online […]
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