A company is manufacturing baby garments. The manager wants to increase the profits by purchasing new high speed machines or increasing the sale price or using waste material in manufacturing soft toys.’ He decided that using waste material to increase the profit is the best solution for him.
(i) Identify the concept of management involved.
(ii) Mention the steps involved in the above process by quoting the lines from the question.
(iii) To complete the process of the concept identified, what further steps does the manager have to take?