A company is manufacturing garments. The manager wants to increase profits by purchasing new high speed machines or increasing the sale price or using waste materials in manufacturing stuffed toys. He decided that "using waste material" is the best solution for him.
(a) Identify the concept of management involved.
(b) Mention the steps involved in the above process by quoting the lines from the question.

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Solution

Planning means looking ahead and chalking out future courses of action to be followed. It is a preparatory step. It is a systematic activity which determines when, how and who is going to perform a specific job. Planning is a detailed programme regarding future courses of action.
Steps involved in Planning are:
Develop objectives
Develop tasks to meet those objectives
Determine resources needed to implement tasks
Create a timeline
Determine tracking and assessment method
Finalize plan
Distribute to all involved in the process

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A company is manufacturing garments. The manager wants to increase profits by purchasing new high-speed machines or increasing the sale price or using waste materials in manufacturing stuffed toys. He decided that "using waste material" is the best solution for him. Identify the concept of management involved.

A company is manufacturing garments. The manager wants to increase profits by :

(i) Purchasing new high-speed machines

(ii) Increasing the sale price

(iii) Using waste materials in the manufacturing of stuffed (or soft) toys.

He decided that using waste material to increase the profit is the best solution for him.

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(ii) To complete the process of the concept identified what further steps does the manager need to take?

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