Monitoring results against plans
is the difference between project management and project leadership that
project management includes.
To add, project
management<span> is the
discipline of initiating, planning, executing, controlling, and closing the
work of a team to achieve specific goals and meet specific success criteria.</span>
Goods and services are not factors of production.
Factors of production are inputs that are needed to provide goods or services. They include, land, labor, capital, and entrepreneurship.
<h2>Further Explanation:</h2><h3>Factors of reproduction </h3>
- Factors of reproduction or resources are inputs or resources that are used in the generation of goods and services with an aim of making profit.
- There are four main factors of production which include; Land, Labor, Capital and Entrepreneurship.
<h3>Land </h3>
- This refers to all the natural resources that are available to be used in the production of goods.
- These natural resources includes raw materials from the ground, non-renewable resources such as petroleum and renewable resources such as timber.
- The income or reward earned from land as a factor of production is rent.
<h3>Labor </h3>
- This refers to the manpower or work done by human beings.
- The value of labor depends on the skills, education and motivation of workers.
- The reward for labor as a factor of production is wages and salaries.
<h3>Capital </h3>
- This refers to the capital goods, that is, man-made objects that are used for production of goods and services such as machinery, equipment and chemicals.
- They also include industries and commercial buildings.
- The reward or income earned from capital goods is interest
<h3>Entrepreneurship </h3>
- It involves coming up with an idea and developing it into profitable business.
- An entrepreneur is therefore an individual who combines the other factors of production to build a business and add the supply in the economy.
- The reward or income earned by entrepreneurs is profit.
Keywords: Factors of production, labor, land, capital
<h3>Learn more about</h3>
Level: High school
Subject: Business
Topic: Factors of reproduction
Explanation:
The three problems associated with teams in organizations are:
- Group thinking
- Social loafing
- Conflicts due to hierarchy and unclear responsibilities.
Group thinking can affect the quality of work, productivity and innovation of the team, this problem arises as a result of establishing a decision consensus without carrying out sufficient testing, analysis and evaluations, as there is a need for the members to reduce conflicts and remain in the comfort zone so as not to disturb the consensual development of the team.
Social loafing is a problem observed when members of a team contribute less effort to achieve the expected results. This can lead to a decrease in innovative ideas and work overload for some team members.
In conflicts due to unclear hierarchy and responsibilities, they can be generated due to disagreements in the way a team is led and in the division of responsibilities that are not well established in a team, so there must be clear, direct communication and that conflicts be resolved ethically for the sake of the progress of teamwork.
Fred Schultz, the owner of the West Medical Supply had lost 26 percent of his business. The cause of the lost was because of the two drug stores and close local hospital. In order for Fred to redeem his lost and to gain more, he needs to do some research on demographic changes. By this, he may be able to determine the population and to figure out where and how he can go through with his business.
Answer: D
This was 4 years ago - 32 Michele - 35 Shelly
Now - Michele is 36, Shelly is 39
