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Yusuf the Manager (Scenario)
As a production supervisor, Yusuf decides on Friday afternoon how many units of output his employees will be able to produce and on which days certain products will be run in his department. He also decides which of his employees are going to be responsible for operating which machines within the department next week, as his employees are multi- skilled assemblers. On Monday, he informs his employees of their assignments to specific machines by handing out assignment sheets. He tells the employees that the schedule is going to be difficult this week due to the increased number of units. He goes on to tell them that he is sure they can fulfill the schedule because they are such good and skilled employees. Each day during the week, Yusuf checks the amount of output that the employees have completed and the number of units that have been rejected.
-When Yusuf decides how many units of output his employees will be able to produce and on which days certain products will be run, he is performing which of the management functions?
Transaction Costs
Expenses incurred when buying or selling goods and services, which can include broker fees, communication charges, or the cost of obtaining information.
Classified Ads
Short advertisements placed by individuals or businesses in a categorised listing to sell products or services, typically found in newspapers and online platforms.
Professors' Salaries
The remuneration paid to academic teaching staff, which may vary based on rank, experience, and the type of institution.
Price Ceiling
A legal maximum price that can be charged for a good or service.
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