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  3. 4. "the first duty of business is to survive and g

4. "The first duty of business is to survive and guiding the principle of business economics...

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General Management

4. "The first duty of business is to survive and guiding theprinciple of business economics is not the maximization of profit... it is the avoidance of loss" (Peter Drucker).
a. Explain the meaning of the above statement related to thestudy of ergonomics, OSH (Industrial Occupational Health andSafety), productivity and quality of work in the industry. How canyou associate work accidents with industry competitiveness (idle /delay, profit vs loss, etc.)?
b. As is the case with production / operational management;the implementation of -Occupational Health and Safety management(Safety and Health Management System, OSHA, ISO 1800) is equallyimportant and has strategic value for the industry. Agree to you,give an explanation and do not forget to give a concreteexample.

Answer & Explanation Solved by verified expert
3.8 Ratings (559 Votes)
a OSH refers to complying with the safety standards set by the authoring institutions upon several organizations Safety is the primary responsibility of the organisation to promote the wellness of employees Providing adequate safety standards reduction in workplace stress automated machine implementation easy access to exit doors availability of safety equipment for the employees who come in contact with hazardous products are the several steps to be taken by the organization to ensure    See Answer
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