DICT Lesson 11

It is managing the coordination and organization of business activities.

It is defined as an administrative specialization that focuses on hiring and developing employees to become more valuable to the company.

It refers to the application of management principles to the production function in a factory. In other words, production management involves application of planning, organizing, directing and controlling the production process.

It refers to the total cost incurred by a business to produce a specific quantity of a product or offer a service.

It is an index that measures output (goods and services) relative to the input (labor, materials, energy, and other resources) used to produce them.