<u>Lean production</u> is a guiding philosophy and management approach that emphasizes efficiency through the elimination of waste in company operations.
Management is the management of an agency, whether or not it's miles a business, a non-earnings business enterprise, or a government frame. it is the art and science of handling resources of the enterprise.
The principle objective of management is to relax maximum outputs with minimum efforts & sources. control is basically concerned with wondering & utilizing human, material & financial resources in this sort of manner that might result in a first-class combination.
To the maximum fundamental degree, management is an area that includes a fixed of 5 general functions: making plans, organizing, staffing, leading, and controlling. those 5 capabilities are a part of a frame of practices and theories on a way to be a hit manager.
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Answer:
Break-even points = 265.38
Explanation:
Given:
Fixed cost = $3,450
Variable costs = $12
Selling price = $25
Number of balls sold = 300
Find:
Break even costs
Computation:
Contribution per unit = Sales - Variable costs
Contribution per unit = $25- $12
Contribution per unit = $13
Break-even points = Fixed cost / Contribution per unit
Break-even points = $3,450 /$13
Break-even points = 265.38
The approach is best demonstrated by Free Enterprise
Let understand that Free Enterprise is a system where there are full freedom for individuals and businesses. This system brings economic growth because its encourages entrepreneurs to start new businesses and take risks.
A laissez-faire economy system, notable a theory developed by the French creates the philosophy of giving businesses more autonomy from government rules and regulations
- This economy system makes its easier for companies to take risks and invest in the economy.
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Advertising would be something over the world or state country etc that many people will see something that is advertised on tv or a bill board, personal selling would be something that your showing off on your on like on ebay etc that isnt sponsered by any companys and is for your own doing . Hope this helped ! (:
