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Preeti Dabral 4 years, 8 months ago
Functional structure is formed on the basis of functions to be performed like Production, Finance, Personnel, and Marketing whereas divisional structure is formed on the basis of various product lines, which is further supported by functions. Divisional Structure is broader in scope than the Functional Structure.
Sia ? 4 years, 9 months ago
The key difference between functional and divisional structure is that functional structure is an organizational structure in which the organization is divided into smaller groups based on specialized functional areas such as production, marketing and sales whereas divisional structure is a type of organizational structure where operations are grouped based on divisions or separate product categories.
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Preeti Dabral 4 years, 8 months ago
The end-use of the machine determines whether it is a capital good or not. Capital goods are those fixed assets of the producers which are used in the process of production for several years and which are of high value. Therefore, only those machines which are used in the process of production are considered to be capital goods. Those machines which are used by the households are not capital goods. For example, Computer used at home is a durable-use consumer good, but a computer used in the computer coaching class is a capital good.
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Preeti Dabral 4 years, 8 months ago
Management does not meet the exact criteria of a profession. On comparing the features of the profession with the features of management it is found that there are so many features of a profession which are not present in management like
- Restricted entry: The entry to a profession is restricted in an examination or a degree like a person can practice as a lawyer if he has a degree of LLB but in management, no legal restriction is there to appoint a manager as per educational qualification.
- Existence of ethical code: For every profession, there are some rules and obligation which are binding all the professional of that profession but in management, there is no ethical code which abides the managers.
So we can say that presently management cannot be recognized as a full-fledged profession. Management is on the path of becoming a profession. In future, it may be considered as a profession.
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Preeti Dabral 4 years, 8 months ago
Following are three main features of the economy that India inherited from her colonial past:
- Stagnant Economy- A stagnant economy is an economy which is characterized by a prolonged period of slow economic growth. The Indian economy was stagnant in the sense that the rate of growth of per capita income was just 0.5% per annum.
- Agricultural Economy- Indian economy was primarily an agricultural economy. Agriculture contributed about 60% to the GDP.
- Backward Industries- At the time of independence, Indian industries were in a backward state. The industrial base of the economy was very small. Industries were facing the problems of shortage of raw materials, lack of credit facilities, bad industrial relations, and low level of technology.
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Preeti Dabral 4 years, 8 months ago
India is a leading exporter of handicrafts because :
- Handicraft is a traditional industry of India.
- Easy availability of Skilled workers.
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Shahzada Ansari 4 years, 9 months ago
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