Shop management refers to the overall administration and organization of a retail store or workshop. It encompasses all the activities required to run a successful and efficient business, from inventory control to customer service. Key Characteristics / Core Concepts Inventory Management: Tracking stock levels, ordering, and managing storage. Sales & Customer Service: Processing transactions, managing … Read more
Operations management (OM) is the administration of business practices to create the highest level of efficiency possible within an organization. It involves the design, implementation, and improvement of systems and processes that create and deliver goods or services. Key Characteristics / Core Concepts Process Optimization: Focusing on streamlining workflows for maximum efficiency. Resource Allocation: Strategically … Read more
Business administration is the process of managing and organizing a business’s resources to achieve its goals. It involves planning, organizing, leading, and controlling the business’s operations. Key Characteristics / Core Concepts Planning: Setting goals and developing strategies to achieve them. Organizing: Structuring the business and assigning responsibilities. Leading: Motivating and directing employees to work towards … Read more