Johnny Ch Lok

How Facility Management Brings Positive Service Emotion Johnny Ch Lok

How facility management strategy can help any organizations to raise profit? Many economists have argued that profit maximization has brought about many disparities among consumers and manufacturers. In case of perfect competition it may appear as a legitimate and a reward for efforts but in case of imperfect competition a firm's prime objective should not be profit maximization. In olden times when there was not too much of competition selling and manufacturing goods were primarily for mutual benefit. Manufacturers didn't produce to earn profits rather produced for mutual benefit and social welfare. The aim of the single producer was to retain his position in the market and sustain growth, thereby earning some profit which would help him in maintaining his position. On the other hand in today's time the production system is dominant by two tier system of ownership and management. Ownership aims at maximizing profit and management aims at managing the system of production thereby indirectly increasing the income of the business. So, when the organization can improve itself manufacturing facilities to be used long time. Then, it can bring indirect benefits to reduct cost and time and raise productivities benefits, These services are used by customers who in turn are forced to pay a higher price due to formation of cartels and monopoly. Not only have the customers suffered but also the employees. Employees are forced to work more than their capacity. they is made to pay in extra hours so that production can increase. In any facility management owning organizations, many times manufacturers tend to produce goods which are of no use to the society and create an artificial demand for the product by rigorous marketing and advertising. They tend to make the product so tempting by packaging and labeling that its difficult for the consumer to resist. These happen mainly with products which aim to target kids and teenagers. And commercials and print ads tend to provide with wrong information to artificially hike the expectation of the product. Profit maximization objective is a little vague in terms of returns achieved by a firm in different time period. The time value of money is often ignored when measuring profit. It leads to uncertainty of returns. Two firms which use same technology and same factors of production may eventually earn different returns. It is due to the profit margin because one organization has good facility management to keep its machines to be the most efficient productivities, otherwise, the another organization lack good facility management to keep its machines to be the efficient productivities. Whether you're a business or an individual, you have to find a way to manage your finances now and in the future. The cost of everything continues to increase and there's no sign that this trend of price increases will stop anytime soon. As a result, all entities have to develop a financial management system to ensure their stability for many years to come. This system has to provide the businesses in question with enough flexibility for them to continue to grow and pay for their necessary expenses. It also has to be stringent enough to allow for money to be put away in the event of future catastrophes. In the case of a business, all expenses have to be prioritized in the interest of spending money on the right things. When it comes time for cost cutting measures to be implemented, they have to be come with consequences in mind. Everything that's done to cut costs has an end result once it becomes a common procedure. So, any organizations can not neglect to consider how to implement their facility management strategy to keep their manufacturing machines to be the most efficient productive equipment in long term.