Managers learn better through experience. Theory has nothing to offer Essay

Managers learn better through experience. Theory has nothing to offer - Essay Example Management on the other hand, includes supervision of people, managing projects, and managing a budget. Therefore, management incorporates responsibility and thus it requires a lot of practice in order to acquire enough skills liable for management (Culpan 2002, P. 79). Managers learn better through experience and theory has nothing to offer. This statement is true to some extent and on the other hand, the theory has some importance. It is very true that experience is important to managers since the more they practice managing, the more they become efficient in their managing skills. On the other hand, an individual may learn the theory and harbours the knowledge without practicing what is learnt can make the individual lose the knowledge and eventually the theory ends up not helping the manager in any way. On the other hand, theory can help the manager in case he learns and practices it thus he acquires some experience greatly helps him or her. In the field of management, various le arning models try to explain the effect of the experience curve and the efficiency found in the output or the gains or investment made out of the effort applied (Burtles 2007, P. 36). Following the learning curves observed in the 19th century, it follows that experience suggests that the more times an individual performs or practices a task, very less time is required in the subsequent repeat of the same task. Statistics show that in 1936, in the United States, the Wright-Patterson Air Force Base whereby they came up with the resolution that the time required for labour of a double production of aircraft, requires a less percentage of labour time. This means that when the production of an item doubles the time used becomes less. This concept applies to the acquisition of knowledge and skills by the manager, the more an individual practice, the less time he or she uses in the labouring and thus the knowledge acquisition is fast. According to human psychology of how the human brain wo rks, human brain retains knowledge easily when practicing (Warwick & Bolton 2008, P. 135). Therefore, learning curve suggests that in every double quantity of items produced, the cost for that decreases at the same rate. Thus, in theory alone has nothing to offer to the managers. Managers need learning experiences. The effect of experience curve shows at the production or in the quality of the output of the service and doubling the volume of the cumulative decreases, the cost of the values added at the same percentage. The main reason for the application of the experience and the learning curves in management is the complexity of the learning processes. Experience effects become very important because of the labour efficiency. Many employers and companies require managers who have enough experience since they are sure of efficient labour hence efficient output. Experience curve is also important because of the Technology-driven learning. In order for a manager to posses some efficie ncy qualities, he, or she has to be pro-efficient in the technology. Learning technology requires practice since it is more of a practical subject than being a theoretical subject. Another importance of the experience curve is for the better use of equipments. An individual has practiced, experiment, or experience to use equipments correctly. Other importance of the experience curve includes, standardization, specialization, and methods of improvements, redesigning of the products, building networks and in the

Pizza hut company Essay Example | Topics and Well Written Essays - 2250 words

Pizza hut company - Essay Example The market research involved both primary and secondary research. The primary data was sourced through focus group surveys and in-depth interviews. Since the sale revolves around selling of Pizza vending machine, target customers would be business ventures, offices, colleges and schools etc. The customers would in general be business customers. To fetch primary data in-depth interviews and focus group surveys were used. The questions prepared for the target group were: The answers by most of the people interviewed emphasized on the facts and figures that they would like try the new machine. The main reason for which they wanted to try the new vending machine was due to its lower purchase cost and lower costs incurred in operational expenses. The fact that the automatic vending machine did not require human intervention excited them a lot. To understand business prospects in Qatari market and to understand the prospect of a first food chain and the prospect of a new pizza vending in Qatari market, secondary research data was also used. The secondary data used were from books and several prominent websites. The general view that was supported by most of the books was that the Qatari market seems to be a very promising market for a fast food chain. However the best way to do business in Qatar would be through the help of a local investor or franchisee (International business Publication, 2012). According to other creditable sources Qatar is one of the wealthiest markets and certainly the wealthiest economy of GCC (Food export Association of the Middle West USA, 2011). So it is found that Qatar promises to be good market for the introduction of the new vending machine. Qatari market is a huge market in terms of potential and scope. To effectively capitalize on the market it needs to segment well in the first place. The segmentation may be on