Answer:
Different types of management systems ranging from the point-of-sale systems, accounting systems, lead management, e-commerce, communication systems, and project management solutions are available to small businesses for the smooth running of operations.
Explanation:
Answer:
Cash cow
Explanation:
Boston consulting group (BCG) Matrix: It is a framework created for the strategic position of the business and its potential. It classifies business units into four categories of a cash cow, Stars, question mark and Dogs on the matrix of the growth rate of industry and relative market share. This matrix is also known as the growth-share matrix.
In the BCG matrix, If business unit lies in the category of a Cash cow, then it is considered as market leader as it generates more income and company are able to get a good return out of investment in this business unit. In the matrix, the Business unit have high market share, however, it has less growth prospect.
In the given case, Mega-Big Corp has been manufacturing components of automobiles and has been extremely profitable for 18 years, therefore, Mega-Big Corp. is most likely considered a cash cow.
<span>The use of a system in which a physical product - in this case an automobile - is moved from one worker to the other, each of whom performs a specific assigned task upon the product, is known as an assembly line. This is a production concept whose creation is attributed to Ransom Olds, but has also been heavily utilized by Ford Motors since its early days. Specialized robots can also be utilized instead of human labor.</span>
The first step is determining what knowledge is most important. the control function involves measuring performance relative to the planned objectives and standards, rewarding people for well work done, and then taking corrective action when necessary.
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