e buyer, and the decision to grant further discounts depends on Kiran as the final authorization. At the beginning of the company's opening, five of her employees were asked to arrange extra working hours. In return, she promised to give them special rewards within a year. Therefore, after six months of good business performance, she awarded cash bonuses to each employee to fulfill her promise. However, when resolving conflicts between employee
Critical Path Method
The critical path is the longest succession of tasks that has to be successfully completed to conclude a project entirely. The tasks involved in the sequence are called critical activities, as any task getting delayed will result in the whole project getting delayed. To determine the time duration of a project, the critical path has to be identified. The critical path method or CPM is used by project managers to evaluate the least amount of time required to finish each task with the least amount of delay.
Cost Analysis
The entire idea of cost of production or definition of production cost is applied corresponding or we can say that it is related to investment or money cost. Money cost or investment refers to any money expenditure which the firm or supplier or producer undertakes in purchasing or hiring factor of production or factor services.
Inventory Management
Inventory management is the process or system of handling all the goods that an organization owns. In simpler terms, inventory management deals with how a company orders, stores, and uses its goods.
Project Management
Project Management is all about management and optimum utilization of the resources in the best possible manner to develop the software as per the requirement of the client. Here the Project refers to the development of software to meet the end objective of the client by providing the required product or service within a specified Period of time and ensuring high quality. This can be done by managing all the available resources. In short, it can be defined as an application of knowledge, skills, tools, and techniques to meet the objective of the Project. It is the duty of a Project Manager to achieve the objective of the Project as per the specifications given by the client.
Question 5: After completing the jewelry design course, Kiran opened a jewelry showroom in Kohat. She employs eleven people in her showroom. In order to increase productivity, she divides the work into small tasks, and each employee is trained to perform their professional work. The salesperson is allowed to reach a maximum 10% discount with the buyer, and the decision to grant further discounts depends on Kiran as the final authorization. At the beginning of the company's opening, five of her employees were asked to arrange extra working hours. In return, she promised to give them special rewards within a year. Therefore, after six months of good business performance, she awarded cash bonuses to each employee to fulfill her promise. However, when resolving conflicts between employees, she tends to prefer female employees.
In the above case:
Identify and explain how the various management principles adopted by Kiran by quoting the lines in this paragraph.
Identify and explain how the management principles Kiran violated by quoting each line in the paragraph.
State and explain any consequences of Kiran's violation of management principles as determined in part (b) of the problem.
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