Master Production Schedule (MPS): Objectives, Functions, and Inputs
Master Production Schedule (MPS)
Objectives, functions, inputs, and guidance from the MPS.
Functions of MPS
- Translate aggregate plans into specific items.
- Evaluate alternative programs.
- Generate capacity requirements.
- Facilitate information processing.
- Maintain valid priorities.
- Utilize capacity effectively.
Definition of MPS
Sets the quantity of each article to be produced, to be completed per week, in a short horizon planning. The range of the articles allows them to be sent to the client or stored as finished
Read MoreCentral Banks: Roles of the Bank of Spain & ECB in Monetary Policy
The Bank of Spain and the European Central Bank
The central bank in Spain is the Bank of Spain, which oversees the banking system and regulates the money supply in the economy.
Functions of the Bank of Spain
The Bank of Spain has specific functions and responsibilities as a member of the European System of Central Banks (ESCB).
Specific Functions:
- Save and manage foreign exchange reserves and precious metals not transferred to the European Central Bank.
- Supervise the operation of credit entities and financial
Business Location, Size, and Growth Strategies
Business Location
Concept and Target Location
Concept: The place chosen by the employer to locate physically productive activity. This is a major strategic decision in the field, a productive and long-term decision.
Objective: To minimize costs and maximize profitability through commercial and industrial location choices.
Centralization and Decentralization
Concentrating everything in one place or deconcentrating it into various units of lower size. Decentering types include:
- Horizontal: Several plants
Employee Motivation: Taylor, Mayo, Maslow, Herzberg
Taylor’s Theory of Scientific Management
Taylor proposed that workers are primarily motivated by pay. His theory of Scientific Management argued that:
- Workers do not naturally enjoy work and therefore require close supervision and control.
- Workers should receive appropriate training and tools to work as efficiently as possible on one specific task.
- Workers are then paid according to the number of items they produce in a set period – piece-rate pay.
Consequently, workers are encouraged to work hard
Read MoreSecurities Market: Regulation, CNMV, and Investment
Securities Market Law
The Securities Market Law (LMV) regulates primary and secondary markets. The LMV establishes the principles of its organization and functioning, rules governing the activity of those involved in them, and their supervisory regime. The products involved in these markets are securities issued by private companies and institutions (fixed or variable income) or public institutions (bonds).
What is the CNMV? Objectives and Functions
The stock market law requires the existence of an
Read MoreCorporate Finance: Key Concepts and Applications
Shareholder Control vs. Managerial Influence: Over time, shareholders may have lost control over corporations relative to managers. Managers have access to firm resources and may use them to enact changes in corporate governance rules or laws that benefit them. Most common stockholders, except for large institutional shareholders, have little financial incentive to lobby their interests due to the small size of their investment compared to the firm’s overall size. Shareholder rights initiatives
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