External Micro- Environment Micro environment includes those players whose decisions and actions have a direct impact on the company. Production and selling of commodities are the two important aspects of modern business. Accordingly, the micro environment of business can be divided. The various constituents of micro environment are as under: Suppliers of inputs: An important factor in the external micro environment of a firm is the supplier of its inputs such as raw materials and components
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company to cash in on the brand name, which means ability to attract new customers with relatively low costs. Resource & efficiency: Since Germany had already been exploited, the companies¶ seeked for ways of acquiring resources at much lower rates. So by choosing this stategy , , would help them to compete in the markets with major supermarkets and hypermarkets as they could drive down the costs of products that would lead to attracting more cunsumers loyalty . This could enable them to maximize
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Objectives should set the course – Should be socially and economically useful – Should organize to innovate, implement strategies – Should sustain profitability – Helps to have a mission statement • • It is about strength and weaknesses It is usually controllable. Hierarchy of Objectives Company Objectives Production Objectives Finance Objectives Product Objectives Marketing Objectives Place Objectives Personal Selling Objectives HR Objectives Promotion Objectives Mass Selling Objectives R&D
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and attainable objectives that should be well-affirmed in terms of quantity. The second is the establishment of planning grounds to find out the business barricade during the course of doing business. These are either internal that are controllable or the uncontrollable external. The third step is choosing the alternative path of action by evaluating the pros and cons in light of availability of resources and organizational requirements hence choosing the best alternative. The fourth step is the forming
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page with proper format) Assess the capabilities of the company (3-4 relevant points in each) Strengths Weaknesses Opportunities Threats Strengths & Weaknesses – internal factors – owned or controllable by the company Opportunities & Threats – external factors – uncontrollable by company For each point: Statement of the existing factor Explanation of why it is a S W O or T 2.Problem Analysis (One paragraph) Should include “Why is that”? “how significant is it?” Statement
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1. BY NATURE OR ELEMENT MATERIAL COST * Cost of materials used for the manufacture of a product, a particular work order, or provision of a service. * Example: Cloth for making a dress, stores used for maintaining machines and buildings such as lubricants, cotton waste, bricks etc. LABOUR COST * Labour cost is defined as the total expenditure borne by employers in order to employ workers. Labour costs include the direct costs linked to remuneration for work carried out
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This page intentionally left blank R E V I S E D T H I R T E E N T H E D I T I O N AN INTRODUCTION TO MANAGEMENT SCIENCE QUANTITATIVE APPROACHES TO DECISION MAKING David R. Anderson University of Cincinnati Dennis J. Sweeney University of Cincinnati Thomas A. Williams Rochester Institute of Technology Jeffrey D. Camm University of Cincinnati Kipp Martin University of Chicago Australia • Brazil • Japan • Korea • Mexico • Singapore • Spain • United Kingdom • United
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of such things as ROI, ROE, return on net assets, or risk adjusted return on capital. Reasons for the use of accounting information in performance measures are due to Accounting based measures being Precise, Objective, Timely, Understandable, & Cost Efficient thus meeting the measurement criteria satisfactorily. As Accounting Profits & Returns can be measured on a timely basis relatively
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A COMPARATIVE STUDY OF STANDARD COSTING SYSTEMS OF TWO COMPANIES CERTIFICATE FROM THE ORGANISATION TABLE OF CONTENTS Sr. No. | Chapter Name | Page No. | 1. | Acknowledgement | 5 | 2. | Preface | 6 | 3. | Objective and Introduction | 7 | 4. | A Brief about the two Companies | 8 | 5. | Standard Costing System | 12 | 6. | Findings | 15 | 7. | Conclusion | 17 | ACKNOWLEDGEMENT We owe much gratitude to all the people who have helped and supported us during the conduct
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Geog 2110 Regional Geography of China Yu Lee Lee 12017973 04-04-2014 Whether China should abolish the one-child policy has been a controversial issue in the society. According to “The effect of China’s one-child family policy after 25 years” (2005), due to the economic stagnation, the limited resources, the baby boomers in 1950s, the Chinese government introduced one-child policy in 1979 for the sake of promoting economic reform, improving the living standard and achieving small-size family
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