02.03.09 Coordinating the Business

02.03.09 Coordinating the Business - Tuesday, February 3,...

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What is coordinating ? Coordinating is the management task of making sure that various parts of the business all operate in harmony with each other. Effective coordination involves: Minimal waste Greater efficiency Superior products Controlling the Value Chain A value chain is a set of linked activities that add value to a product or service. Define value adding? Value adding is the creation of extra or added value as raw materials are transformed into intermediate or finished products through the various stages of production. Value adding occurs at various stages of the production process. Because production usually requires a large number of highly specialised tasks, this creates an increasing need for coordinated action by: including the steps that need to be followed in the plans for a project ordering the sequence of those steps explaining the role of each person involved in the production process outlining how cooperation can be achieved Role of Management
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02.03.09 Coordinating the Business - Tuesday, February 3,...

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