Tag: Different

  • Different Types of WiFi Networks

    Different Types of WiFi Networks

    Explore our comprehensive guide on the different types of WiFi networks, including Infrastructure, Ad-Hoc, and Wireless Distribution Systems. Understand their characteristics, use cases, and essential security protocols to ensure reliable and secure connectivity in today’s digital age.

    Understanding the Different Types of WiFi Networks: A Comprehensive Guide

    In today’s digital age, WiFi networks have become essential to our daily lives. They enable us to stay connected, work remotely, and access abundant information at our fingertips. However, not all WiFi networks are created equal. This article will explore the different types of WiFi networks, their characteristics, and their use cases.

    I. Introduction

    WiFi, or Wireless Fidelity, is a wireless networking technology that uses radio waves to provide wireless high-speed internet connections. With the increasing demand for wireless connectivity, various types of WiFi networks have emerged, each with its unique features and capabilities.

    II. Infrastructure WiFi Networks

    Infrastructure WiFi networks are the most common type of WiFi network. They consist of a central access point (AP) that communicates with wireless clients, such as laptops, smartphones, and tablets. The AP connected to a wired network, providing internet access to wireless clients. There are two types of infrastructure WiFi networks: Basic Service Set (BSS) and Extended Service Set (ESS).

    A. Basic Service Set (BSS)

    A Basic Service Set (BSS) is a single access point that communicates with wireless clients within its coverage area. BSSs are often used in small offices, homes, and other environments where a single access point is sufficient.

    B. Extended Service Set (ESS)

    An Extended Service Set (ESS) is a network of two or more access points that communicate with each other to provide wider coverage and redundancy. ESSs are often used in large offices, campuses, and other environments where a single access point cannot provide sufficient coverage.

    III. Ad-Hoc WiFi Networks

    Ad-hoc WiFi networks, also known as peer-to-peer networks, do not rely on a central access point. Instead, wireless clients communicate directly with each other, creating a self-contained network. Ad-hoc WiFi networks often used for temporary connections between devices, such as file sharing or gaming.

    IV. Wireless Distribution System (WDS)

    A Wireless Distribution System (WDS) is a type of WiFi network that allows multiple access points to communicate with each other wirelessly. WDS is often used in large deployments where it is not feasible to run wired connections between access points.

    V. Security Considerations

    Security is a critical consideration for WiFi networks. Several types of security protocols can used to protect WiFi networks:

    A. Wired Equivalent Privacy (WEP)

    Wired Equivalent Privacy (WEP) is an early security protocol that provides basic encryption for WiFi networks. However, WEP has been largely superseded by more secure protocols.

    B. WiFi Protected Access (WPA)

    WiFi Protected Access (WPA) is a more secure security protocol that uses stronger encryption than WEP. WPA has two versions: WPA and WPA2.

    C. WiFi Protected Setup (WPS)

    WiFi Protected Setup (WPS) is a technology that enables users to easily connect wireless clients to a WiFi network. However, WPS has been found to have several security vulnerabilities.

    VI. Conclusion

    Understanding the different types of WiFi networks is essential for businesses and individuals looking to deploy WiFi networks. Infrastructure WiFi networks are the most common type of WiFi network, while ad-hoc WiFi networks and Wireless Distribution Systems (WDS) used for specific use cases. Security is a critical consideration for WiFi networks, with several security protocols available to protect WiFi networks.

    By selecting the appropriate type of WiFi network and implementing appropriate security measures, businesses and individuals can ensure reliable and secure wireless connectivity for their users.

    Table: Types of WiFi Networks

    Type of WiFi NetworkDescriptionUse Cases
    Infrastructure WiFiA central access point that communicates with wireless clientsSmall offices, homes, large offices, campuses
    Ad-hoc WiFiWireless clients communicate directly with each otherFile sharing, gaming
    Wireless Distribution System (WDS)Multiple access points communicate with each other wirelesslyLarge deployments

    List: Security Protocols for WiFi Networks

    • Wired Equivalent Privacy (WEP)
    • WiFi Protected Access (WPA)
      • WPA
      • WPA2
    • WiFi Protected Setup (WPS)
  • Examples Why a need for Business Forecasting to Business?

    Examples Why a need for Business Forecasting to Business?

    Need for Business Forecasting to Business examples the Theories. Business Forecasting is an estimate or prediction of future developments in business such as sales, expenditures, and profits. It refers to the technique of taking a perspective view of things likely to shape the turn of things in the foreseeable future. As the future is always uncertain, there is a need for an organized system of forecasting in a business. Given the wide swings in economic activity and the drastic effects these fluctuations can have on profit margins; it is not surprising that business forecasting has emerged as one of the most important aspects of corporate planning. So, what we the question is: Different Theories explain why a need for Business Forecasting to Business?

    The Concept of Financial Management Examples Business Forecasting for Business, in points of Theories and Need.

    In this article, we will discuss Business Forecasting for Business; First Theories of Business Forecasting, that we look again at the need for Business Forecasting. So, let’s discuss: The essence of all the previous article on business forecasting is to explain meaning and definition is that business forecasting is a technique to analyze the economic, social, and financial forces affecting the business with the object of predicting future events based on past and present information. Need to study: Importance, Advantages, Limitations of Business Forecasting to Business.

    Examples the different theories of Business Forecasting:

    The following different theories Examples Business Forecasting needed are:

    Historical:

    This theory is based on the assumption that history repeats itself. It simply implies that whatever happened in the past under a set of circumstances is likely to happen in the future under the same set of conditions. Thus, a forecaster has to analyze the past data to select such a period whose conditions are similar to the period of forecasting. Further, while predicting for the future, some adjustments may make for the special circumstances which prevail at the time of making the forecasts.

    Action and Reaction:

    This theory is based on Newton’s ‘Third Law of Motion’, i.e., for every action; there is an equal and opposite reaction. When we apply this law to business, it implies that if there is depression in a particular field of business; there is bound to be a boom in it sooner or later. It reminds us of the business, cycle which has four phases, i.e., prosperity, decline, depression, and prosperity.

    This theory regards a certain level of business activity as normal and the forecaster has to estimate the normal level carefully. According to this theory, if the price of the commodity goes beyond the normal level; it must come down also below the normal level because of the increased production and supply of that commodity.

    Economic Rhythm:

    This theory propounds that the economic phenomena behave rhythmically and cycles of nearly the same intensity and duration tend to recur. According to this theory, the available historical data have to analyze into their components, i.e. trend, seasonal, cyclical, and irregular variations. The secular trend obtains from the historical data project several years into the future on a graph or with the help of mathematical trend equations.

    If the phenomena are cyclical in behavior, the trend should adjust for cyclical movements. When the forecast for a year is to be split into months or quarters then the forecaster should adjust the projected figures for seasonal variations also with the help of seasonal indices. It becomes difficult to predict irregular variations and hence, the rhythm method should use along with other methods to avoid inaccuracy in forecasts. However, it must remember that business cycles may not be strictly periodic and the very assumptions of this theory may not be true as history may not repeat.

    Sequence Method/Time-Lag Method:

    This theory is based on the behavior of different businesses which show similar movements occurring successively but not simultaneously. As such, this method takes into account time lag based on the theory of lead-lag relationship which holds good in most cases. The series that usually change earlier serve as the forecast for other related series. However, the accuracy of forecasts under this method depends upon the accuracy with which time lag estimate.

    Cross-Cut Analysis:

    In this method of business forecasting, the combined effect of various factors is not studied; but the effect of each factor, that has a bearing on the forecast, is studied independently. This theory is similar to the Analysis of Time Series under the statistical methods.

    Modernity:

    This approach makes use of mathematical equations for drawing economic models. These models depict the inter-relationships amongst the various factors affecting the economy or business. The expected values for dependent variables then ascertain by putting the values of known variables in the model. This approach is highly mechanical and this can rarely employe in business conditions. Very helpful: Elements, Techniques, and Steps of Business Forecasting.

    The Need for Business Forecasting:

    Some of Examples the important needs of business forecasting list below:

    These are Six need:

    • Production Planning.
    • Financial Planning.
    • Economic Planning.
    • Workforce Scheduling.
    • Decisions Making, and.
    • Controlling Business Cycles.

    Now, Explain each one:

    Production Planning:

    The rate of producing the products must match with the demand which may be fluctuating over the time period in the future. Since its time consuming to change the rate of output of the production processes; so, the production manager needs medium-range demand forecasts to enable them to arrange for the production capacities to meet the monthly demands which are varying.

    Financial Planning:

    Sales forecasts are a driving force in budgeting. Sales forecasts provide the timing of cash inflows and also provide a basis for budging the requirements of cash outflows for purchasing materials, payments to employees and to meet other expenses of power and utilize, etc. Hence forecasting helps finance managers to prepare budgets taking into consideration the cash inflow and cash outflows.

    Economic Planning:

    Forecasting helps in the study of macroeconomic variables like population, total income, employment, savings, investment, general price-level, public revenue, public expenditure, the balance of trade, the balance of payments, and a host of other macro aspects at national or regional levels. The forecasts of these variables are generally for a long period of time ranging between one year to ten or twenty years ahead. Much would depend on the perspective of planning, longer the perspective longer would be period of forecasting. Such forecasts often call projections. These are helpful not only for planning and public policymaking; but, they also include likely economic environment and aid formulation of business policies as well.

    Workforce Scheduling:

    The forecast of monthly demand may further break down to weekly demands and the workforce may have to adjust to meet these weekly demands. Hence, forecasts need to enable managers to get in tune with the workforce changes to meet the weekly production demands.

    Decisions Making:

    The goal of the forecaster is to provide information for decision-making. The purpose is to reduce the range of uncertainty about the future. Businessmen make forecasts to make profits. In business, the forecast has to be done at every stage. A businessman may dislike statistics or statistical theories of forecasting, but he can not do without making forecasts. Business plans of production, sales, and investment require predictions regarding the demand for the product; the price at which the product can be soled, and the availability of inputs.

    The forecast for demand is the most crucial. The operating budgets of various departments of a company have to be based upon the expected sales. Efficient production schedules, minimization of operating cost, and investment in fixed assets are when accurate forecasts recording sales and availability of inputs are available.

    Controlling Business Cycles:

    It is commonly believed that business cycles are always very harmful in their effects. Abrupt rise and fall in the price level injurious not only to businessmen but to all types of persons, industries, trade, agriculture. All suffer from the painful effects of depression. The Trade cycle increases the risk of business; creates unemployment; induces speculation and discourages capital formation.

    Their effects are not confined to one country only. Business forecasting reduces the risk associated with business cycles. Prior knowledge of a phase of a trade cycle with its intensity and expected period of happening may help businessmen, industrialists, and economists to plan accordingly to reduce the harmful effects of trade cycle statistics is thus needed to control the business cycles.

    Different Theories explain why a need for Business Forecasting to Business
    Different Theories explain why a need for Business Forecasting to Business? Image credit from #Pixabay.
  • Difference between Delegation and Decentralization

    Difference between Delegation and Decentralization

    Delegation and Decentralization: They are closely related concepts. Decentralization is an extension of delegation. It is wider in scope and consequence than delegation. Szilagyi writes, “Centralization and decentralization should not be viewed as two separate concepts, but opposite ends of a single continuum of delegation.” The primary difference between Delegation and Decentralization: Delegation is the process of assigning authority to others. This process of delegating power from higher to lower levels within organizations results in decentralization. Thus delegation can under­stand as a means of affecting decentralization.

    What is the Difference between Delegation and Decentralization in Organization Function?

    In an organization, it is not possible for one to solely perform all the tasks and take all the decisions. Due to this, their authority came into existence. Generally, there is some confusion regarding the meanings of both because of the fact the process in respect of both is almost the same.

    Some people consider them synonyms but that is wrong. Their difference can understand with the help of an example. Suppose, a general manager allows the manager of the department of production to appoint employees with a pay range of less than dollar 500 in his department, it will call delegation.

    On the contrary, if this authority of appointing the employees is given to the managers of all the departments, it will call decentralization. If the departmental manager assigns this authority to a sub-manager of his department, it will be the extension of decentralization. In this reference, it is said that if we delegate the authority, we multiply it by two, if we decentralize it, we multiply it by many.

    Meaning of Delegation and Decentralization:

    Delegation means the passing of authority by one person who is in a superior position to someone else who is subordinate to him. It is the downward assignment of authority, whereby the manager allocates work among subordinates. On the other hand, Decentralization refers to the dispersal of powers by the top-level management to the other level management. It is the systematic transfer of powers and responsibility, throughout the corporate ladder. It elucidates how the power to take decisions is distributed in the organizational hierarchy.

    Table of Difference:

    The following difference below are;

    Delegation and Decentralization - Table of Difference
    Delegation and Decentralization – Table of Difference.

  • Difference Between Recruitment and Selection

    Difference Between Recruitment and Selection

    The primary difference between Recruitment and Selection; Recruitment is the process of identifying whether the organization needs to appoint someone whose post the applications have come in the organization. Following selection, the procedures involved in selecting applicants from a suitable candidate to fill a position. Training involves procedures to ensure that the job holders have the right skills, knowledge, and attitude necessary to help the organization achieve its objectives. Hiring individuals to fill special positions within a business can be done internally by recruitment within the firm, or by hiring outsiders.

    What is the difference between Recruitment and Selection? Explaining!

    We know that recruitment and selection are part of the same phases of employment. One of the important roles of HRM is to select the appropriate staff and appoint the right professionals or staff to meet the recruitment needs and provide training to the best employees and ensure that these selected candidates can deliver better performance. So that we can deal with the issues of and follow the rules of various systems. Recruitment is a fundamental job of human resource management. Fundamentally, recruitment is the process of attracting, assessing, and hiring employees for companies. Once the HRM requirements are understood, the next stage of HRM is to employ workers.

    Each one is complete the other but there are a few points difference between them:

    • Recruitment is the first part of the employment phase. Which is looking and collecting more than one applicant, the second part of the employment phase is selection. Which starts to look for applicants and evaluate them.
    • The goal of Recruitment is to create differentiation and creative applicants to give the organization more options. The main goal for selection is to choose the best one to fill the position.
    • Since recruitment searching for more employees to apply for a position. It considers as a positive process, and the negative process will be in selection since it reducing the applicants to one for each position.
    • The source of human resources is the most important part of recruitment, but in the selection, the most important part is choosing the person via interviews or through tests.
    • There no contract between the applicant and organization in the recruitment process, but there is a signing of a contract between an applicant and an organization.

    Different by Meaning:

    Recruitment (hiring) is a core function of human resource management. It is the first step of an appointment. Recruitment refers to the overall process of attracting, shortlisting, selecting, and appointing suitable candidates for jobs within an organization. Recruitment can also refer to processes involved in choosing individuals for unpaid positions. Such as voluntary roles or unpaid trainee roles.

    Managers, human resource generalists, and recruitment specialists may task with carrying out recruitment. But, in some cases, public-sector employment agencies, commercial recruitment agencies, or specialist search consultancies are used to undertake parts of the process. Internet-based technologies to support all aspects of recruitment have become widespread.

    Selection means the action or fact of carefully choosing someone or something as being the best or most suitable. A process in which environmental or genetic influences determine. Which types of organisms thrive better than others, regarded as a factor in evolution.

    Difference Between Recruitment and Selection
    Difference Between Recruitment and Selection

    Different by Definitions:

    The following definitions below are;

    Recruitment as,

    “The process of finding and hiring the best-qualified candidate for a job opening, in a timely and cost-effective manner. The recruitment process includes analyzing the requirements of a job, attracting employees to that job. The screening and selecting applicants, hiring, and integrating the new employee to the organization.”

    Selection as

    “A consumer’s choice of a product or service. As well as, the available products or services that a company offers a consumer. A business with a wide array of available choices is considered to have a wide selection.”

    Difference Between Recruitment and Selection - Table
    Difference Between Recruitment and Selection – Table

    Note: You can be read this article in Hindi; Difference Between Recruitment and Selection.

  • Microeconomics and macroeconomics in what kind of difference between?

    Microeconomics and macroeconomics in what kind of difference between?

    Macroeconomics and microeconomics, and their wide array of underlying concepts have been the subject of a lot of writings. The field of study is vast; so here is a summary of what each covers. The primary difference between Microeconomics and Macroeconomics; Microeconomics is generally the study of individuals and business decisions, while macroeconomics looks at higher up country and government decisions.

    The difference between Microeconomics and Macroeconomics by Definition, and Explanation!

    When we study economics as a whole, we must consider the decisions of individual economic actors. For example, to understand what determines total consumption spending, we must think about a family decision as to how much to spend today and how much to save for the future.

    Since aggregate variables are simply the sum of the variables describing many individual decisions, macroeconomics is inevitably founded in microeconomics. The difference between microeconomics and macroeconomics is artificial since aggregates are deriving from the sums of individual figures.

    Yet the difference justifies because what is true for an individual in isolation may not be true for the economy as a whole. For example, an individual may become richer by saving than spending.

    What does mean Microeconomics?

    Microeconomics is the study of decisions that people and businesses make regarding the allocation of resources and prices of goods and services. This means also taking into account taxes and regulations created by governments. Microeconomics focuses on supply and demand and other forces that determine the price levels seen in the economy.

    For example, microeconomics would look at how a specific company could maximize its production and capacity, so that it could lower prices and better compete in its industry. Find out more about microeconomics in How does government policy impact microeconomics?  Microeconomics’ rules flow from a set of compatible laws and theorems, rather than beginning with empirical study.

    What does mean Macroeconomics?

    Macroeconomics, on the other hand, is the field of economics that studies the behavior of the economy as a whole, not just of specific companies, but entire industries and economies. It looks at economy-wide phenomena, such as Gross Domestic Product (GDP), and how it affects by changes in unemployment, national income, rate of growth, and price levels.

    For example, macroeconomics would look at how an increase/decrease in net exports would affect a nation’s capital account or how GDP would affect the unemployment rate.

    John Maynard Keynes is often credited with founding macroeconomics when he initiated the use of monetary aggregates to study broad phenomena. Some economists reject his theory and many of those who use it disagree on how to interpret it.

    Introduction to Micro and Macro:

    While these two studies of economics appear to be different, they are interdependent and complement one another since there are many overlapping issues between the two fields. For example, increased inflation (macro effect) would cause the price of raw materials to increase for companies and in turn affect the end product’s price charged to the public.

    Microeconomics takes what refers to as a bottom-up approach to analyzing the economy while macroeconomics takes a top-down approach. In other words, microeconomics tries to understand human choices and resource allocation, while macroeconomics tries to answer such questions as “What should the rate of inflation be?” or “What stimulates economic growth?”

    Regardless, both micro and macro-economics provide fundamental tools for any finance professional and should study together to fully understand how companies operate and earn revenues, and thus, how an entire economy manages and sustain.

    Definition of Microeconomics and Macroeconomics:

    Microeconomics is a Greek word which means small,

    “Microeconomics is the study of specific individual units; particular firms, particular households, individual prices, wages, individual industries particular commodities. The microeconomic theory or price theory thus is the study of individual parts of the economy.”

    It is an economic theory in a microscope. For instance, in the microeconomic analysis, we study the demand of an individual consumer for a good and from there we go to derive the market demand for a good. Similarly, in microeconomic theory, we study the behavior of individual firms the fixation of price output.

    The term macro derives from the Greek word “UAKPO” which means large. Macroeconomics, the other half of economics, is the study of the behavior of the economy as a whole.

    In other words:

    “Macroeconomics deals with total or big aggregates such as national income, output and employment, total consumption, aggregate saving, and aggregate investment and the general level of prices.”

    Explanation of the difference between Microeconomics and Macroeconomics:

    The following difference below are;

    Adam Smith is usually considering the founder of microeconomics, the branch of economics. Which today concerns, the behavior of individual entities as markets, firms, and households. In The Wealth of Nations, Smith considered how individual prices are set, studied the determination of prices of land, labor, and capital. And, inquired into the strengths and weaknesses of the market mechanism.

    Most important, he identified the remarkable efficiency properties of markets and saw that economic benefit comes from the self-interested actions of individuals. All these are still important issues today. And, while the study of microeconomics has surely advanced greatly since Smith’s day, he is still cited by politicians and economists alike.

    The other major branch of our subject is macroeconomics, which is concerning with the overall performance of the economy. Macroeconomics did not even exist in its modern form until 1935 when John Maynard Keynes published his revolutionary book General Theory of Employment, Interest, and Money. At the time, England and the United States were still stuck in the Great Depression of the 1930s, and over one-quarter of the American labor force was unemployed.

    Extra knowledge;

    In his new theory, Keynes developed an analysis of what causes unemployment and economic downturns. How investment and consumption are determining? How central banks manage money and interest rates? and, Why some nations thrive while others stagnate? Keynes also argues that the government had an important role in smoothing out the ups and downs of business cycles.

    Although macroeconomics has progressed far since his first insights. The issues addressed by Keynes still define the study of macroeconomics today. The two branches – microeconomics and macroeconomics – covers to form modern economics. At one time the boundary between the two areas was quite distinct; more recently, the two sub-disciplines have merged as economists have to apply the tools of microeconomics to such topics as unemployment and inflation.

    Microeconomics and macroeconomics in what kind of difference between
    Microeconomics and macroeconomics in what kind of difference between?

    Differences between them:

    The main differences between Microeconomics and Macroeconomics are as under:

    Under Microeconomics:

    • It is the study of individual economic units of an economy.
    • It deals with Individual Income, Individual prices, Individual output, etc.
    • Its central problem is price determination and allocation of resources.
    • Its main tools are the demand and supply of a particular commodity/factor.
    • It helps to solve the central problem of ‘what, how and for whom’ to produce. In the economy
    • It discusses how the equilibrium of a consumer, a producer, or an Industry attains.

    Under Macroeconomics:

    • It is the study of the economy as a whole and its aggregates.
    • It deals with aggregates like national income, general price level, national output, etc.
    • Its central problem is the determination of the level of income and employment.
    • Its main tools are aggregate demand and aggregate supply of the economy as a whole.
    • It helps to solve the central problem of the full employment of resources in the economy.
    • It concerns the determination of the equilibrium level of income and employment of the economy.

    Note: You’ll study the Difference between Microeconomics and Macroeconomics in Hindi.

  • Difference between Positive and Normative Economics

    Difference between Positive and Normative Economics

    Positive and Normative Economics: Economics is often divided into two major aspects – positive and normative. Positive economics explains how the world works. The primary difference between Positive and Normative Economics; con­cerns with what is, rather than with what ought to be. Normative economics is concerning what ought to be rather than what is. It proposes solutions to society’s economic problems. That there is unemployment in India is a problem of positive economics. What measures can adopt to solve the problem is a problem of normative economics. Normative economics also knows as welfare Eco­nomics.

    How to Explain the difference between Positive and Normative Economics?

    The distinction between positive economics and normative economics may seem simple, but it is not always easy to differentiate between the two. Positive economics is objective and fact-based, while normative economics is subjective and value-based. Positive economic statements must be able to test and prove or disprove. Normative economic statements are opinion based, so they cannot prove or disprove. Many widely-accepted statements that people hold as fact are value-based.

    For example, the statement, “government should provide basic healthcare to all citizens” is a normative economic statement. There is no way to prove whether the government “should” provide healthcare; this statement is based on opinions about the role of government in individuals’ lives, the importance of healthcare, and who should pay for it.

    The statement, “government-provided healthcare increases public expenditures” is a positive economic statement, as it can prove or disprove by examining healthcare spending data in countries like Canada and Britain, where the government provides healthcare.

    Disagreements over public policies typically revolve around normative economic statements, and the disagreements persist because neither side can prove that it is correct or that its opponent is incorrect. A clear understanding of the difference between positive and normative economics should lead to better policy-making if policies are made based on facts (positive economics), not opinions (normative economics). Nonetheless, numerous policies on issues ranging from international trade to welfare are at least partially based on normative economics.

    Positive Science or Normative Science!

    Positive science implies that science which establishes the relationship between cause and Ef­fect. In other words, it scientifically analyses a problem and examines the causes of a problem. For example, if prices have gone up, why have they gone up.

    In short, problems are examining based on facts. On the other hand, normative science relates to normative aspects of a problem i.e., what ought to be. Under normative science, conclusions and results are not based on facts, rather they are based on different considerations like social, cultural, political, religious, and son are is subjective, an expression of opinions.

    In short, positive science concerns with “how and why” and normative science with ‘what ought to be’. The distinction between the two can explain with the help of an example of an increase in the rate of interest. Under positive science it would look into why the interest rate has gone up and how can it reduce whereas under normative science it would see as to whether this increase is good or bad. Three statements about positive and normative science each are given below:

    Positive Science:

    The following topic below are;

    • The main cause of price-rise in India is the increase in the money supply.
    • It bases on a set of collected facts.
    • Prices and inequalities of income level in an economy.
    • Production of food grains in India has increased mainly because of an increase in irrigation facilities and the consumption of chemical fertilizers.
    • The rate of population growth has been very high partly because of the high birth rate and partly because of the decline in the death rate.
    • Studies with what is or how the economic problem originally solves.
    • It can verify with the original data.
    • It aims to provide an original description of economic activity.
    Normative Science:

    The following topic below are;

    • Inflation is better than deflation.
    • It bases on the opinion of the individual.
    • The government should generate more employment opportunities.
    • More production of luxury goods is not good for a poor country like India.
    • Inequalities in the distribution of wealth and incomes should reduce.
    • Studies with what ought or how the economic problem should solve.
    • It cannot verify with the original data.
    • It aims to determine the principles.

    Difference between Positive and Normative Economics
    Difference between Positive and Normative Economics

    Positive and Normative Economic Statements:

    The following Statements topic below are;

    Positive statements: Positive statements are objective statements that can test, amend, or reject by referring to the available evidence. Positive economics deals with objective explanations and the testing and rejection of theories. For example; A fall in incomes will lead to a rise in demand for own-label supermarket foods. And, If the government raises the tax on beer, this will lead to a fall in profits of the brewers.

    Normative Statements: A value judgment is a subjective statement of opinion rather than a fact that can be tested by looking at the available evidence. Normative statements are subjective statements – i.e. they carry value judgments. For example; Pollution is the most serious economic problem. Unemployment is more harmful than inflation, and. The government is right to introduce a ban on smoking in public places.

  • What do we think about Plant location decision? in Different Situations

    What do we think about Plant location decision? in Different Situations

    What is Plant location decision? Location of an industry is an important management decision. Location decision is based on the organizations long-term strategies such as technological, mar­keting, resource availability and financial strategies. Plant location refers to the choice of the region where men, materials, money, machinery, and equipment are brought together for setting up a business or factory.

    Here are explain; What do we think about Plant location decision?

    Plant location decisions are very important because once the plant is located at a particular site then the organization has to face the pros and cons of that initial decision. Why we Comparison of Different Production Systems?

    What is a Plant?

    A plant is a place where the cost of the product is kept to low in order to maximize gains. A plant is a place, where men, materials, money, machinery, etc. are brought together for manufacturing products.

    Identifying an ideal location is very crucial, it should always maximize the net advantage, must minimize the unit cost of production and distribution. The objective of minimization of cost of production can achieve only when the plant is of the right size and at the right place where economies of all kinds in production are available.

    The planning for “where” to locate the operations facilities should start from “what” are organization’s objectives, priorities, goals and the strategies required to achieve the same in the general socio-economic-techno-business-legal environment currently available and expected to be available in the long-term future.

    Unless the objectives and priorities of an organization are clear i.e. the general direction is clear, effective functional or composite strategies cannot design. And, it is these strategies of which the location design is a product.

    When Plant location decision in Different Situations, How to chose perfect?

    The following the different situations below are;

    To select a proper geographic region:

    The organizational objectives along with the various long-term considerations about marketing, technology, internal organizational strengths and weaknesses, region-specific resources and business environment, legal-governmental environment, social environment, and geographical environment suggest a suitable region for locating the operations facility.

    Selecting a specific site within the region:

    Once the suitable region is identified, the next problem is that of choosing the best site from an available set. Choice of a site is much less dependent on the organization’s long-term strategies. It is more a question of evaluating alternative sites for their tangible and intangible costs if the operations were located there. Cost economies now figure prominently at this final stage of the facilities-location problem.

    Location choice for the first time:

    In this case, there is no prevailing strategy to which one needs to confirm. However, the organizational strategies have to be first decided upon before embarking upon the choice of the location of the operating facility/facilities. The importance of long-term strategies can not overemphasize. Cost economics is always important but not at the cost of long-term business/ organizational objectives.

    Location choice for an ongoing organization:

    A new plant has to fit into a multi-plant operations strategy as discussed below;

    Plant Manufacturing Distinct Products or Product Lines.

    This strategy is necessary where the needs of technological and resource inputs are specialized fir distinctively different for the different products/product- lines. For example, a high-quality precision product-line should preferably not locate along with other product-line requiring a little emphasis on precision.

    It may not be proper to have too many contradictions such as sophisticated and old equipment, highly skilled and not so skilled personnel, delicate processes and those that could permit rough handling, all under one roof and one set of managers. Such a setting leads to much confusion regarding the required emphasis and management policies. Product specialization may be necessary in a highly competitive market; it may also be necessary in order to fully exploit the special resource potential of a particular geographical area.

    Instances of product specialization could be many: A watch manufacturing unit and a machine tools unit; a textile unit and a sophisticated organic chemical unit; an injectible pharmaceuticals unit and a consumer products unit; etc. All these pairs have to be distinctively different-in technological sophistication, in process, and in the relative stress on certain aspects of management. The more decentralized these pairs are in terms of the management and in terms of their physical location, the better would be the planning and control and the utilization of the resources.

    Manufacturing Plants Each supplying to a Specific Market Area.

    Here, each plant manufactures almost all of the company’s product. This type of strategy is useful where market proximity consideration dominates the resources and technology considerations. This strategy requires a great deal of coordination from the corporate office. An extreme example of this strategy is that of soft-drinks bottling plants. Manufacturing Plants Divided According to the Product/Product Line being Manufactured, and these Special-Product Plants Located in Various Market Areas.

    Plants Divided on the Basic of the Processes or Stages in Manufacturing.

    Each production process or stage of manufacturing may require distinctively different equipment capabilities, labor skills, technologies, and managerial policies and emphasis. Since the products of one plant feed into the other plant, this strategy requires much-centralized coordination of the manufacturing activities from the corporate office who are expecting to understand the various technological and resources nuances of all the plants. Sometimes such a strategy is using because of the defense/national security considerations. For instance, the Ordnance Factories in India.

    Plants Emphasizing Flexibility in Adapting to Constantly Changing Product Needs.

    This needs much coordination between plants to meet the changing needs and at the same time ensure efficient use of the facilities and resources. The new plant or branch-facility has to fit into the organization’s existing strategy, mainly because the latter has been the product of deep thinking about the long-term prospects and problems, and strengths and weaknesses for the organization as a whole.

    What do we think about Plant location decision - in Different Situations - Power Station
    What do we think about Plant location decision? in Different Situations! Power Station #Pixabay.

    Location for an Industrial Plant:

    The principle of Industrial Plant Location is that the sum of manufacturing and distribut­ing cost should be at a minimum for the best location. The first two factors are related to the transportation cost. One should be clear that a plant may locate near the market as well as near the raw materials site. But in actual practice, many times, due to some other factors, it is not possible to locate an industry near the proximity of the market as well as raw material.

    Explain different parts:

    For economical analysis these factors play an important part:

    Following are the factors when an undertaking is located near the raw material site;

    When the source of raw material is likely the controlling factor. Materials are bulky and of relatively low price. Materials are small and of the high unit price. Raw materials are greatly reducing in bulk during the process of manufacture. Raw materials are perishable and the process makes them less perishable. The examples are processing industries, cement, paper, meat, canning (Fruit), etc.

    Factors responsible for locating an industry near the market;

    When the size or bulk of the product is more. Render it more fragile.
    More subsection about the spoilage. Examples are shoes, furniture, glassware industries.

    While dealing with the economy of labor, the factors responsible are;

    The ratio of labor cost to total manufacturing cost. If the ratio is small then this factor is not important. Possibility of a reduction in labor cost by using better methods or better quality of labor. The type of labor required. For example, the textile industries silk and carpet-making industries, sports goods, etc.

    Now for the economy and availability of power;

    This point is similar to raw material procurement. If power is generating from coal, then coal is a raw material. Hence still steel plants are located near the coal-mines etc.

    Another major factor that influences the availability of finance;

    But the finance can obtain from Government agencies. Banks etc. at any place.

    The following factors also influence the layout;

    An offer of a factory site or an existing plant. Subscriptions of the capital stock of the enterprise. A rebate of taxes and the period for which it will remain available. Non-reference by local or government bodies. The location should not be near the border of the country to safeguard from the risk of war. For smooth going, political interference should not be there.

  • Why we Comparison of Different Production Systems?

    Why we Comparison of Different Production Systems?

    Comparison of Different Production Systems; The system relies on a number of important factors like policies of the organization, Types of Production Systems, size of production, etc. However, production methods, organization, activities, and operations differ from company to company. The production system can classify in the following ways: 1) Continuous or Flow Production, and 2) Intermittent Production System.

    Here are explain; How to Comparison of Different Production Systems?

    As we have discussed various systems and sub-systems in detail in the above lines, we can now make a comparative study of them as follows;

    Comparison of Different Production Systems Chat
    Comparison of Different Production Systems Chat

    Manufacturing Cost:

    Cost of production per unit is the lowest in-process production while it is highest in job production because large scale continuous production is carried out under process production. Per unit, the cost is maximum in Job production and minimum in-process production. The four methods of production in increasing order of costs can arrange as process, mass, batch, and job. Unit cost in mass production is higher than the process production while it is lower than the batch production or job production.

    Size and Capital Investment:

    As stated earlier, the scale of operation is small in job production, medium in batch production, large in mass production and very large in-process production. Hence the size of capital investment differs from system to system. Process production calls for higher investment while mass production requires a lesser amount of capital investment. It is lower in case of job production and comparatively higher in batch production. Extra explain each of them;

    1. Capital Investment: The requirement of capital varies according to the nature of the product and the input needs. The systems in ascending order of capital investment can be arranged as a job, batch, mass, and process.
    2. Size of Plant: In job and batch system the same equipment/machine can perform a number of operations to manufacture different type of items. So the size of the plant is likely to smaller than those for mass and process system where the whole production process is to strictly arrange in a predetermined sequence of operations.

    Flexibility in Production:

    In case of a change in demand for the product, the production facilities may adjust very shortly without increasing much expenses under the system of job or batch production. But both the sub-systems of continuous production system i.e., mass production or process production employ single-purpose machine in their manufacturing processes. Job and batch systems can easily adjust to changes in the requirement of the consumer with incurring any heavy expenditure.

    But in the case of mass and process systems we can produce one single product and with the change in demand of products the systems cannot adjust easily. Thus job-batch system using general-purpose machines is more flexible than a mass-process system using single-purpose machines. They cannot adjust their production facilities so quickly and easily as is possible in job or batch production where general-purpose machines are using.

    Required Technical Ability:

    Both job and batch production requires high skilled technical foreman and other executives. Highly skills labor is required in job and batch production to operate and carry out specializes work on machines. In the case of mass and process systems, semi-skilled persons can also operate the machines.

    But due to the large scale of production, more managerial skill is requiring in continuous systems. Under mass production for process production systems, managerial ability plays an important role because it requires the higher ability for planning and coordinating several functions in mass and process production than in the case of job and batch production.

    Organizational Structure:

    A mostly functional organization is adopting in case of job and batch production systems. In job and batch production generally functional organizational approach is adopting whereas divisional organization pattern is using in mass and process systems.

    There is decentralization concept in organization of job and batch whereas centralization is prominent in mass and process systems. On the other hand, the divisional organization is preferred in mass and product process production systems due to the greater emphasis for centralization.

    Job Security:

    Job and batch systems of production do not provide. Any type of job security to workers due to their intermittent character. During odd times, workers particularly upskilling workers are thrown out of a job. On the contrary, mass and process production systems provide greater job security to workers. Because production operations are carrying out continuously in anticipation of stable and continuous demand of the product.

    Job and batch systems produce items only when orders are receiving. During slack periods when there is no or very little demand workers are likely to sack. Job security is the probability that an individual will keep his/her job; a job with a high level of job security is such that a person with the job would have a small chance of losing it. Thus, there is less job security in Job-batch production systems. In mass and process system, items are manufacturing for stock and so production is continuous. Due to this, there is more job security for workers.

    Industrial Application:

    The application of different systems is suitable in different industries depending upon the nature of work. The mechanism of job production applies in products of construction and manufacturing industries like buildings, bridges, special purpose machines, etc.

    Batch production is mostly using in mechanical engineering and consumer-goods industries like cotton, jute, machine tools, shoe-making, etc. Mass production is found in automobiles, sugar refining, refrigerators, electrical goods, etc. Process production is most appropriate in chemical, petroleum, milk processing industries, etc.

    Why we Comparison of Different Production Systems - Toothbrush
    Why we Comparison of Different Production Systems? Toothbrush #Pixabay

    Thus, a comparative view of the different systems of production reveals. That no one system is suitable for all types of industries. And, therefore, each system is different in itself and must be studied with reference to the nature of the industry.

  • Different Critiques of Scientific Management by Workers and Employees

    Different Critiques of Scientific Management by Workers and Employees

    Here are Explain Different Critiques of Scientific Management by Workers and Employees!

    Although it acknowledges that scientific management enables management management to enable resources in its best possible use and manner, it is not avoided by serious criticism. Who is a Employer? An employer is a person or institution that hires employees. Employers offer wages or a salary to the workers in exchange for the worker’s work or labor. What are The Criticism of Scientific Management?

    And, Who is a Worker? A laborer (Worker)is a person who is traditionally consider as unskillful labor labor in a construction business, although in practice, workers are a skill business that has reliability and strength in the form of core qualities. Following Critiques of Scientific Management:

    Employer’s Viewpoint

    1. Expensive – Scientific management is a costly system and a huge investment is require in establishment of planning dept., standardization, work study, training of workers. It maybe beyond reach of small firms. Heavy food investment leads to increase in overhead costs.
    2. Time Consuming – Scientific management requires mental revision and complete reorganizing of organization. A lot of time is require for work, study, standardization & specialization. During this overhauling of organization, the work suffers.
    3. Deterioration of Quality.

    Another Viewpoint of Employer’s Criticisms to Scientific Management:

    1. According to Drucker: “The divorce of planning from doing deprives us of the full benefit of the insights of Scientific Management. It sharply cuts down the yield to be obtained from the analysis of work and especially the yield to be obtained from planning. Because of the separation of planning from doing, administrative policies cannot be well-planned.”

    2. Management in Scientific Management is likely to become centralize which is not desirable from the efficiency point of view.

    3. No small firm can afford to comply with the requisites of Scientific Management.

    4. Co-operation of the staff which is consider as one of the important conditions for the implementation of scientific management principles is not available in many firms to the desirable extent.

    5. It is a very expensive method of management requiring heavy initial investment which many firms fail to provide.

    6. Reorganization of the whole setup of the industrial unit is a pre-requisite for the introduction of Scientific Management. This usually leads to loss of production.

    7. Capable key executives find it difficult to retain their ser­vices because of too many paraphernalia; management re­mains a helpless onlooker.

    8. Its cost aspect is subject to criticism by the employers. In­efficient cost and financial control is the resultant conse­quence of Scientific Management.

    9. It is also criticize by the employer-owners that the methods of depreciation of wasting assets against project are inadequate and ill-conceive.

    Workers Viewpoint

    1. Unemployment – Workers feel that management reduces employment opportunities from them through replacement of men by machines and by increasing human productivity less workers are needed to do work leading to chucking out from their jobs.
    2. Exploitation – Workers feel they are exploit as they are not given due share in increasing profits which is due to their increase productivity. Wages do not rise in proportion as rise in production. Wage payment creates uncertainty & insecurity (beyond a standard output, there is no increase in wage rate).
    3. Monotony – Due to excessive specialization the workers are not able to take initiative on their own. Their status is reduced to being mere cogs in wheel. Jobs become dull. Workers loose interest in jobs and derive little pleasure from work.
    4. Weakening of Trade Union – To everything is fix & predetermine by management. So it leaves no room for trade unions to bargain as everything is standardize, standard output, standard working conditions, standard time etc. This further weakens trade unions, creates a rift between efficient & in efficient workers according to their wages.
    5. Over speeding – the scientific management lays standard output, time so they have to rush up and finish the work in time. These have adverse effect on health of workers. The workers speed up to that standard output, so scientific management drives the workers to rush towards output and finish work in standard time.

    Another Viewpoint of Worker’s Criticisms to Scientific Management

    Scientific management is call: a smart device for the exploitation of labor. In order to investigate labor unrest, 40 objections were filed by the employees before a special committee. Criticisms are as follows:

    1. Scientific management does not consider human element in- production in its true perspective. It emphasizes the engineering side and as a result of expertise, the work is reduce in mechanical form as possible. Maybe Taylor was mis-understood because the principles of his management were provide to the rest of the workers and fatigue studies also have a theory to prevent a worker from being over stresses.

    2. Weakening of trade unions is also a serious objection on the part of the labor unions. Since Taylor was strongly oppose to any slacking of work on the part of labor but was in favor of efficient and sincere workers can not but admit.

    3. Monotony is another complaint on the part of the workers. In scientific management, principles have so devised as to specialize a worker in a particular part of a work without knowing the whole process. This is likely to bring about monotony to a worker who is to remain employe in the performance of a particular part of a job.

    4. Since Taylor suggest piece rate system, it is allege that there is the scope of unfair distribution of earning. Labor unions object to such an attitude where the full benefit of the toil does not go to the worker who puts it. Taylor’s plan was ‘Render unto Caesar the things that are Caesar’s and unto ‘God those that are His.’

    5. Taylor’s management takes away ‘thinking’ from a worker; and thus he is reduce to a machine, as allege by workers. It gives rise to industrial autocracy. Management is planning for everything and the workers are design to follow and execute the plans.
    The worker becomes the only means of production and reduces the machine to semi-automatic attachment.

    6. A serious criticism which is raise against Scientific Management is its enforcement of efficiency principle resulting in the reduction of employment.

    According to Myres: “Scientific management is unscientific because obviously no accurate information is available upon. Which the amount to be deducted for the allowance can be based. It is antisocial, it aims at excluding as far as possible the average workmen.”

    While concluding we can remark that to call scientific management a clever device to exploit workers is not correct. Trade unions have new become militant to a great extent and are arm with enormous. Power to control management and prevent there from doing whatever they like. So, the steps that seem to go against labor but not against the firm can very well enforce by trade unions in consultation with the management round the table.

    Different Critiques of Scientific Management by Workers and Employees - ilearnlot

    Reference

    1. Criticism – //www.managementstudyguide.com/criticism_scientificmanagement.htm
    2. Another Criticism – //www.yourarticlelibrary.com/scientific-management/criticisms/criticisms-of-scientific-management/74126