Modes of Strategic Planning - Entrepreneurial and Adaptive

Modes of Strategic Planning
There are three different modes of strategic planning. These are depicted in a diagram, listed and explained as follows:Image Credits © Moon Rodriguez.
1. Entrepreneurial Mode
In entrepreneurial mode, strategic planning is done by one person. He takes the full responsibility of planning for the production department. That is, he does production planning on behalf of

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What is Strategic Planning for Production? Definition Meaning

What is Strategic Planning for Production? Definition
The definition of strategic planning for production is quoted below."Strategic planning for production implies focusing on the alignment of production management within an organization with its corporate and business strategies to gain a strategic advantage."Image Credits © Motion media works.
Meaning of Strategic Planning for Production

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What are Different Types of Production Strategies ?

Different Types of Production Strategies
The different types of production strategies are grouped, listed and explained under following three categories, viz.,The types of production strategies under Business Strategies are as follows:Differentiation strategy
Cost leadership strategy
Market segmentation strategyThe production strategies under Competitive Priorities are as follows:Price or cost

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Developing and Implementing Production Strategy - Steps

Developing and Implementing Production Strategy
Steps for developing and implementing production strategies are as follows:Image Credits © Moon Rodriguez.Fixing organisational objectives
Developing production and other strategies
Selecting the production strategy to be used
Selecting the production process
Selecting production infrastructure
Implementing production strategiesNow let's discuss

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What are Production Strategies? Meaning

What are Production Strategies? Meaning
Production strategies are broad long-term action plans. They are made for achieving the main objectives of organisation. Production strategies tell us what the production department must do to achieve the top aims of the organisation. It provides a road map for the production department.Image Credits © Joey Ganoza.So, production strategies are long-term

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Functions of Production Management - Components

Functions of Production Management
Functions of production management are depicted, listed & explained below.The components or functions of production management are as follows:Selection of Product and Design,
Selection of Production Process,
Selecting Right Production Capacity,
Production Planning,
Production Control,
Quality and Cost Control,
Inventory Control, and
Maintenance and Replacement

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What is Production Management ? Meaning Definition Importance

What is Production Management? Meaning
Production management means planning, organising, directing and controlling of production activities.Production management deals with converting raw materials into finished goods or products. It brings together the 6M's i.e. men, money, machines, materials, methods and markets to satisfy the wants of the people.Image Credits © jovijovijovi.Production

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Importance Benefits of Financial Planning

Benefits of Financial Planning
Before you proceed, first do revise the meaning of term financial planning (FP). It is derived from two influential words, viz., Finance and Planning, which are briefly explained as follows:Finance is the management of money and other valuables, which can be easily converted into cash. It also deals with profits that adequately compensate for the cost and risks

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What are the Rights of Shareholders?

What are the Rights of Shareholders?
First let's understand the meaning of words, rights and shareholders.Rights represent something that is due to an individual or any government body by nature, law, tradition, etc.
Shareholders are those people who invest funds in the share capital of a company.
In a company, the ownership is separated from the management. The shareholders are the owners of a

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