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3. Better Productivity. Project management is important because it ensures there’s a proper plan that outlines a clear focus and objectives to allow the team to execute on strategic goals.
Customers recognize that quality is an important attribute in products and services, and suppliers recognize that quality can be an important differentiator between their own offerings and those of competitors (the quality gap). In the past two decades this quality gap has been gradually decreasing between competitive products and services.
Reliability-seeking organizations are not distinguished by their absolute errors or accident rate, but rather by their “effective management of innately risky technologies through organizational control of both hazard and probability” [13] (p. 14). Consequently, the phrase "high reliability" has come to mean that high risk and high ...
Management control can be defined as a systematic torture by business management to compare performance to predetermined standards, plans, or objectives to determine whether performance is in line with these standards and presumably to take any remedial action required to see that human and other corporate resources are being used most ...
MIT Sloan Management Review leads the discourse about advances in management practice among influential thought leaders in business and academia. It equips its readers with evidence-based insights and guidance to innovate, operate, lead, and create value in a world being transformed by technology and large-scale societal and environmental forces.
Thus, the sustainable management requires finding out what business activities fit into the Earth’s carrying capacity, and also defining the optimal levels of those activities. [5] Sustainability values form the basis of the strategic management, process the costs and benefits of the firm’s operations, and are measured against the survival ...
The term "reliability-centered maintenance" authored by Tom Matteson, Stanley Nowlan and Howard Heap of United Airlines (UAL) to describe a process used to determine the optimum maintenance requirements for aircraft [3] [disputed – discuss] (having left United Airlines to pursue a consulting career a few months before the publication of the final Nowlan-Heap report, Matteson received no ...
Honesty - being trustworthy, loyal, sincere, and fair; Integrity - consistency between actions, values, expectations, and outcomes; Transparency - operating where others can see what actions are performed; Accountability - taking responsibility for actions and their outcomes wherever due; Objectivity - having a well-informed unbiased view on ...