Question

A manager faces a problem of increasing cost in his company. This problem is specific to...

A manager faces a problem of increasing cost in his company. This problem is specific to him. It might so happen that similar problems are faced by others in the industry. He tries to find the reasons for the rising cost and falling profit that might involve different areas of research. which types of research or mode will be necessary to solve the problem?

Business   Operations-Management   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

I believe that this is a very common issue where managers may experience the problem of increasing cost in the company and in order to understand the reason behind this hike in costs the managers needs to conduct a root cause analysis which will make the process granular and disintegrated and decipher the actual cause of the issue. In order to research the same I believe that both quantitative analysis of research and qualitative analysis of research is required which will make the process more detailed and easy to understand for the manager and from insights from the process, the manager will be able to understand the actual issue and the solution to the problem and for this the manger needs to conduct a market analysis along with past trends and future forecasts regarding the same which will provide the trend and the future forecast as well.

0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
The author describes the story of the New York Police Commissioner Bill Bratton and how he made his top management understand the problems faced by the subway users.
As a manager, you may have the power to change your organization’s policies with the stroke of a pen. And you may have the ability to hire, fire, promote and demote people with relatively little effort.But changing an entrenched culture is the toughest task you will face. To do so, you must win the hearts and minds of the people you work with, and that takes both cunning and persuasion.In their book “Blue Ocean Strategy,” W. Chan Kim and Renee...
About John Daniels Chemicals Inc. This business case is about John Daniels Chemicals Inc., which is...
About John Daniels Chemicals Inc. This business case is about John Daniels Chemicals Inc., which is one the most respected and elite chemical research organization in the industry, operating since 1991, with the headquarters in Tanzania, Africa. Organizational Structure and Culture at John Daniels Chemicals Inc. Organizational culture in John Daniels Chemicals Inc. is an open and less rigid one, unlike the other usual corporations in the market. The scientists selected to work in John Daniels Chemicals Inc. are top...
Case Abstract: Company ABC, an AE, constructor and construction management firm, recently assigned Bob Ironside to...
Case Abstract: Company ABC, an AE, constructor and construction management firm, recently assigned Bob Ironside to turn a major coal fired generating station project around. Currently at 36 percent construction completion, the project is shifting from an emphasis on civil and structural work to bulk production. Cooperation of the owner, the multi-prime contractors, and strong labor unions is cach vital for performance improvement. The analysis of this project involves: 1) identification of significant external influences on the project organization, 2)...
Case Study 1: A Day in the Life Rachel, the project manager of a large information...
Case Study 1: A Day in the Life Rachel, the project manager of a large information systems project, arrives at her office early to get caught up with work before her co- workers and project team arrive. However, as she enters the office she meets Neil, one of her fellow project managers, who also wants to get an early start on the day. Neil has just completed a project overseas. They spend 10 minutes socializing and catching up on personal...
Re word this reflection essay and include more studies on creativity in it. What have I...
Re word this reflection essay and include more studies on creativity in it. What have I Learned? I have learned how to use my brain better, to organize my thinking process in a way to facilitate my perceptions, creativity and innovative thinking methods in a more effective manner. I learned many ideas and findings on how human brain function. For example, according to Tony Buzan, the brain thinks in two ways: association or explosion method. I learned that to change...
Case Study 1:  A Day in the Life Rachel, the project manager of a large information systems...
Case Study 1:  A Day in the Life Rachel, the project manager of a large information systems project, arrives at her office early to get caught up with work before her co- workers and project team arrive. However, as she enters the office she meets Neil, one of her fellow project managers, who also wants to get an early start on the day. Neil has just completed a project overseas. They spend 10 minutes socializing and catching up on personal news....
Pfizer was established in 1849 in Brooklyn, New York by cousins Charles Pfizer and Charles Erhart...
Pfizer was established in 1849 in Brooklyn, New York by cousins Charles Pfizer and Charles Erhart with a loan of $2,500 from Pfizer’s father.2 Today, 167 years later, Pfizer Inc. has international revenues of $49 billion, which makes it the second-largest pharmaceutical manufacturer in the world.3 Despite Pfizer’s success, the company has faced many challenges over the last few decades. The pharmaceutical industry is heavily influenced by legal, political, and technological forces, and all indications are that the industry will...
CASE STUDY – Jacobson Carpet Company In January 2002, Ms. Mary Lewis was preparing to meet...
CASE STUDY – Jacobson Carpet Company In January 2002, Ms. Mary Lewis was preparing to meet with Mr. Carpenter, President of Jacobson Carpet Company. Ms. Lewis assumed that the meeting was related to the recent Board of directors of the company. As a direct assistant to the President, she knew from experience that this type of meeting often resulted in a project to be studied. Her expectation was confirmed as soon as Mr. Carpenter began to inform her of the...
New Wave Music New Wave Music is an international company that develops music software that is...
New Wave Music New Wave Music is an international company that develops music software that is used to compose music, play recordings in clubs, and produce albums. Founder and CEO Moritz Halbach is the company’s biggest fan. He said “I started this company from nothing, just me, my ideas, and my computer. I love music---love playing music, love writing programs for making music, love listening to music---and the money is nice, too.” Moritz says that he never wanted to work...
Moore Plumbing Supply Company Capital Structure Mort Moore founded Moore Plumbing Supply after returning from duty...
Moore Plumbing Supply Company Capital Structure Mort Moore founded Moore Plumbing Supply after returning from duty in the South Pacific during World War II. Before joining the armed forces, he had worked for a locally owned plumbing company and wanted to continue with that type of work once the war effort was over. Shortly after returning to his hometown of Minneapolis, Minnesota, he became aware of an unprecedented construction boom. Returning soldiers needed new housing as they started families and...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT