Preview

The Characteristics And Differences Between Manufacturing Management And Property Management

Satisfactory Essays
Open Document
Open Document
724 Words
Grammar
Grammar
Plagiarism
Plagiarism
Writing
Writing
Score
Score
The Characteristics And Differences Between Manufacturing Management And Property Management
As the economy of Minnesota continues to grow, so does the demand for employment in the field of management. There are many different types of businesses to manage, but two of them are very popular now across the metro area. Even though there are similarities between manufacturing management and property management there are also differences between both of them such as, budgets, profits, and green buildings .
Budgets usually represent a detailed analysis of how property and manufacturing companies expect to spend money in future time periods. Owners and managers of apartment buildings, houses, and commercial offices must focus on making sure that tenants are paying their rent on time, and that repairs to correct problems or malfunctions in their properties are completed. This includes regular service to heating and air conditioning systems, proper upkeep of wood, roofing and other building components, periodic inspection of plumbing and electrical items. On the other hand, manufacturing managers must make sure that production machines are working properly. This means molds are in good condition, and production employees are inspecting parts to meet customers requirements and reducing the scrap percentage. Limiting the amount of money spent by the companies may require owners and managers to find different vendors or suppliers for acquiring …show more content…
Owners and managers know that by following the three rules of management, the company will be more successful and will be more competitive in the business world. In my opinion if management companies build more friendly environment buildings, employees' will be more productive, occupants will be more healthy and it will not be a big impact to the
Continue Reading
View Writing Issues

You May Also Find These Documents Helpful

  • Powerful Essays

    Jet2 Task 2
    • 3870 Words
    • 11 Pages

    Jet2 Task 2

    The third area of concern has to do with utility costs. Included in the manufacturing overhead budget under facility in general operations level costs $55,747 is budgeted for utilities and services. This figure appears again on the budgeted schedule of cost of goods…

    • 3870 Words
    • 11 Pages
    Powerful Essays
    Read More
  • Good Essays

    Wild Wood Apartment Scenario PT 2520 Steely
    • 469 Words
    • 3 Pages

    Wild Wood Apartment Scenario PT 2520 Steely

    In the maintenance report what are the total expenses for apartments 303, 101, and 113?…

    • 469 Words
    • 3 Pages
    Good Essays
    Read More
  • Satisfactory Essays

    btec business level 3 unit 2 d3
    • 683 Words
    • 3 Pages

    btec business level 3 unit 2 d3

    For this task I will be discussing the effects of un-monitoring cost and budgets, and seeing how business could suffer if they are not look after responsibly. I will show disadvantages of not using this method properly.…

    • 683 Words
    • 3 Pages
    Satisfactory Essays
    Read More
  • Satisfactory Essays

    Home Pe
    • 321 Words
    • 2 Pages

    Home Pe

    What are the useful lives the Company uses for estimating depreciation for Buildings, Furniture,Fixtures & Equipment, and Leasehold Improvements?…

    • 321 Words
    • 2 Pages
    Satisfactory Essays
    Read More
  • Good Essays

    Variance Analysis

    • 1020 Words
    • 3 Pages

    Variance Analysis

    Once a monthly budget is received for a given month, the managers have to plan on how to use the given budget wisely. It’s true that the employees need some office materials or equipment to get the job done and there are certain areas where the budget needs to be dispensed accordingly. An example to this is the healthcare industry, specifically within the supplies department where the demand for medical supplies is high and needs to be available whenever needed. For the department to run efficiently they need a reliable technology that could help them streamline their process like computers, handheld scanners for inventory, and supply carts, and these are supposed to be available even before opening the department or even before the hospital started business. The carts have a long lifespan and could last for years; therefore sometimes planning for the budget to be used for supplies per month does not need to be met since the supplies needed by the staff are already supplied. Under budgeting for this specific department is safe because it can help the department save some money in case a supply cart breaks and the part is…

    • 1020 Words
    • 3 Pages
    Good Essays
    Read More
  • Powerful Essays

    Lowe's Inc. Strategic Initiative
    • 1120 Words
    • 5 Pages

    Lowe's Inc. Strategic Initiative

    Businesses such as Lowe’s Inc. rely on the “capital budget process” or that which is referred to as “strategic planning” (Keown, et al. 2005). The Chief Executive Officer is the corporate officer who is usually responsible for administering corporate strategic planning, financial planning or the company’s cash flow (Keown, et al., 2005). Part of the strategy of Lowe’s Inc. being a successful business, considering the current economic downturn is the company’s belief that the “key to success in difficult economic times is a focus on what you can control” (Lowe’s 2008). The company’s pledge includes the ideology that “regardless of the expansion or contraction of the industry, Lowe’s will continue to work diligently to drive sales and capture profitable market share (Lowe’s Inc., 2008.)” The company further acknowledges that the economic recovery is contingent unknown factors therefore the plans that the company will implement to build the business will be conservative. Lowe’s capital budgeting process includes review of (1) Merchandising Strategy (2) Merchandise Selection (3) Marketing and Advertising (4) Real Estate Approach (5) New Stores and (6) New Formants.…

    • 1120 Words
    • 5 Pages
    Powerful Essays
    Read More
  • Good Essays

    Essay On Lewisville Fire
    • 473 Words
    • 2 Pages

    Essay On Lewisville Fire

    Establishments that have valuable products and items can benefit from the systems’ immediate response, which give property owners time to save all of their important things. By avoiding great fire disasters, commercial properties don’t need to worry about spending too much on…

    • 473 Words
    • 2 Pages
    Good Essays
    Read More
  • Good Essays

    Policing Levels, Roles, and Functions
    • 1037 Words
    • 5 Pages

    Policing Levels, Roles, and Functions

    Budgets need to be adjusting in order to have everything you need to run an operation.…

    • 1037 Words
    • 5 Pages
    Good Essays
    Read More
  • Powerful Essays

    Nvq Level 3
    • 2254 Words
    • 10 Pages

    Nvq Level 3

    Healthy and safe environment gives workers the opportunity to do their best as much as possible. Users and others will feel secure as they are being cared correctly and given the best quality of service and they do not worry about workplace related accidents and risks.…

    • 2254 Words
    • 10 Pages
    Powerful Essays
    Read More
  • Satisfactory Essays

    Giberson Glass Studio
    • 956 Words
    • 4 Pages

    Giberson Glass Studio

    Another important concern is the condition of the Furnace and Ovens which are only expected to last another 6 months. At the end of this time we need to have budgeted enough to replace them. You will see in the cash flow table, I have shown how you can do this.…

    • 956 Words
    • 4 Pages
    Satisfactory Essays
    Read More
  • Powerful Essays

    Rodolfo Furniture Store
    • 1493 Words
    • 5 Pages

    Rodolfo Furniture Store

    Rodolfo Rodriguez is an entrepreneur in the furniture business in San Juan Puerto Rico. His furniture business has distinguished from the rest in the market by his employee’s craftsmanship in the manufacturing of his furniture. But recently his market has received some foreign competitor that has forced Rodolfo to search for other options and efficiencies within his operation. Among these options Rodolfo is searching for better planning and accounting tools that help him be more efficient in the budgeting and forecasting phase of his business. He has shared the budget process with his team to achieve a participative cross functional budget that will have all his departments focus on the same goal exceeding his budgeted sales. With the support of his finance and accounting team Rodolfo’s has been able to analysis his variable and fixed cost challenging each of them. The intent of Rodolfo is to adapt to the competition, evolving his business while improving his profitability.…

    • 1493 Words
    • 5 Pages
    Powerful Essays
    Read More
  • Good Essays

    case study
    • 1550 Words
    • 7 Pages

    case study

    This is a vital aspect of HRM because the performance of an individual in an organization is largely driven by the work atmosphere or work culture that prevails at the workplace. A good working condition is one of the benefits that the employees can expect from an efficient human resource team. A safe, clean and healthy environment can bring out the best in an employee. A friendly atmosphere gives the staff members, job satisfaction…

    • 1550 Words
    • 7 Pages
    Good Essays
    Read More
  • Good Essays

    Eco Friendly Housekeeping
    • 3819 Words
    • 16 Pages

    Eco Friendly Housekeeping

    In today’s world there is a need for conserving the environment. Global warming is on a high and due to this different climatic changes are taking place affecting many. Hence there is a need for a sustainable environment. Every Industry is finding new methods and technology to improve its production and profit not realizing how much they are affecting our environment. In today’s world the trend of being environmental friendly is increasing. Hotels are trying to play their part and as every person irrelevant whether they are travelling for leisure, business or any other purpose use a hotel. As a hotel has a wide network of influence on people the hotels are going environmental friendly by introducing the concept of Ecotels. The housekeeping is where there is the widest scope for being environmental friendly and preserving natural resources. As they are the ones who use the most amount of resources such as water and energy.…

    • 3819 Words
    • 16 Pages
    Good Essays
    Read More
  • Satisfactory Essays

    Introduction Building Service
    • 346 Words
    • 2 Pages

    Introduction Building Service

    Due to the environment change in society, the comfort level and safety in nowadays on a building…

    • 346 Words
    • 2 Pages
    Satisfactory Essays
    Read More
  • Good Essays

    Capital Budgeting Techniques
    • 892 Words
    • 4 Pages

    Capital Budgeting Techniques

    A business owner faces make many important decisions from the very start of establishing a business. They must determine what kind of business they want to be, whether to be a solo proprietorship, limited liability corporation (LLC) or a corporation. Once this decision has been made there are many different aspects that must be taken into consideration for the company to become successful and stay successful. One very important aspect is cash flow and how funds must be utilized within the company. For instance, money must always be on hand for the day to day expenses like buying supplies and paying employees. These are considered short term expenditures and then there are long term expenditures that must be carefully planned out. Long term expenditures are building and equipment maintenance day the road and new projects that can help expand the company or help bring in more cash flow. The money that is spent on these long term expenditures is generally referred to as capital and the planning and evaluating on the projects that will utilize the capital is called capital budgeting. This process, capital budgeting, can help a company’s financial managers determine if the project is even beneficial to the company, how much money should be put into the project, assess the risk and develop ways to overcome those risk. To help with this process, financial managers can use capital budgeting techniques which have groups of calculations and sets of decision rules. The techniques that are used are called payback period, net present value (NPV), internal rate of return (IRR), and profitability index (PI) (Lasher, 2011, p. 456-458).…

    • 892 Words
    • 4 Pages
    Good Essays
    Read More

Related Topics