with the help of an example state how efficient management practices of the private sector help in reducing costs
Dear Student,
Efficient management practises lead to completion of all tasks with minimum possible costs and resources. For example, if in an organisation, the management decides to reduce wastage of resources by firing unproductive employees, then it will lead to same level of production with reduced costs of production. Hence, efficient management practises help the private sector in reducing cost.
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Efficient management practises lead to completion of all tasks with minimum possible costs and resources. For example, if in an organisation, the management decides to reduce wastage of resources by firing unproductive employees, then it will lead to same level of production with reduced costs of production. Hence, efficient management practises help the private sector in reducing cost.
Keep Posting!!