by TheBusinessProfessor | Feb 23, 2025 | Management, Leadership, & Organizational Behavior
Who is Professor Mary Parker Follet?Follet researched classical management principles in the context of human elements. She employed psychology to understand employee interactions and to promote the efficient use of people in the organization. What Did Follet Study?In...
by TheBusinessProfessor | Feb 23, 2025 | Management, Leadership, & Organizational Behavior
What is Laissez-Faire Management?In Laissez-Faire management, the manager grants lots of autonomy to the employee to make decisions and take actions consistent with their roles in the organization. It is deemed a “hands-off” approach to management. Laissez-Faire...
by TheBusinessProfessor | Feb 23, 2025 | Principles of Marketing
What is Physical Evidence in the Marketing Mix? Physical evidence includes all existing and potential features customers see when engaging with your business. Physical evidence: is the tangible proof that establishes credibility. includes the look and feel of your...
by TheBusinessProfessor | Feb 23, 2025 | Principles of Marketing
What is People in the Marketing Mix? People are anyone directly or indirectly involved in the business side of the enterprise. That means anyone involved in selling a product or service, designing it, marketing, managing teams, representing customers, recruiting and...
by TheBusinessProfessor | Feb 23, 2025 | Strategy, Entrepreneurship, & Innovation
What are the Primary Shipping and Logistics Functions? The primary shipping and logistics functions include: Order Processing Inventory Control Warehousing Transportation Material Handling and Storage
by TheBusinessProfessor | Feb 23, 2025 | Strategy, Entrepreneurship, & Innovation
What are the Primary Manufacturing Functions? The primary manufacturing functions include: Manufacturing Processes and Technology Production Systems Quality Functions Maintenance Logistics Information Technology Systems
by TheBusinessProfessor | Feb 23, 2025 | Managerial & Financial Accounting & Reporting
What are Prime and Conversion Costs? Prime and conversion costs concern the classification of direct material, labor, and overhead. What is a Prime Cost? Prime costs are generally direct material and direct labor that goes into the development and preparation of the...
by TheBusinessProfessor | Feb 23, 2025 | Economic Analysis & Monetary Policy
What is Protectionism? Protectionism concerns governmental policies that restrict international trade in favor of promoting domestic businesses or industries. How Protectionism Affects Supply and Demand? To the non-economist, restricting imports may appear to be...
