Absenteeism is when employees fail to report to work when they are scheduled. Absenteeism can be costly and huge disruption for the employer. It is hard for any organisation to achieve its objectives if the staff fails to report to work. It can result in quality of the output and in some cases it can bring a complete closure for production. The definition of absenteeism‚ its causes‚ its affects on productivity and its costs in term of finances and administrative effectiveness are quite clear‚ the
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Marketing 4 December 2007 How does the marketing concept differ from the selling concept‚ the product and production philosophies ? Illustrate the potential perils faced by companies adopting these concepts in todays highly complex and competitive environment and outline which orientations are recommended in a buyer ’s market ? The Marketing Concept is a philosophy that says that firms should analyze the needs of their customers and then make decisions to satisfy those needs in a way that is better
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Laura Balmer “Politics is a many sided concept only to be understood if viewed from various angles”. Discuss. Every day we will experience the activities and ideas of politics around us‚ despite not knowing its definition. When the majority consider politics they instantly think of government‚ laws‚ debates and scandal. However‚ the real question of what politics is has been pondered for thousands of years by many profound names‚ one of the many reasons why Aristotle referred to
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CONCEPT OF COMMUNICATION Communication is sharing our feelings‚ ideas and opinions with others. This can be intellectual‚ personal‚ spoken or written in nature. We live in groups and man is invariably a social animal. As the social needs insist that we share our thoughts with others. This can be called communication. It is a two-way process. In spoken communication‚ we have speakers and listeners who send and receive verbal messages from each other. In written communication‚ we have writers and
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INCOME CONCEPTS The Purpose of Income Reporting Income is used… 1 As the basis of one of the principal forms of taxation. 2 In public reports as a measure of the success of a corporation’s operations. 3 As a criterion for the determination of the availability of dividends. 4 By rate-regulating authorities for investigating whether those rates are fair and reasonable. 5 As a guide to trustees charged with distributing income to a life tenant while preserving the principal for a remainder man
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B6015: Decision Models Modeling Group Project The purpose of this group project is to apply the modeling concepts and methods learned in class to an important real-world decision making problem based on your own work or personal experience. It could include a problem faced at job‚ consulting assignment‚ school‚ club‚ organization‚ etc. that someone in your group has been personally involved with. For examples of past projects‚ see under the Content / Sample Projects on the Angel page for the
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Managers are frequently referred to as decision makers. Managers make decisions about every aspect of the organisation‚ including strategy‚ structure‚ control systems‚ responses to the environment and human resources. Decision making is not easy. It is done in the face of constantly changing conditions‚ unclear information and conflicting points of view. Types of decisions and problems A decision is a choice made from available alternatives. Decision making is the process of identifying problems
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accounting concepts are rules and guidelines which the accountant follows and uses when deciding between differing options to make. They help to ensure the accounting information is presented accurately and consistently. All formal accounting statements should be created‚ preserved and presented according to the concepts and conventions’. The following will look at each of the concepts and conventions and relate them to the profit and loss account for a sole trader. GOING CONCERN This concept assumes
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Accounting Concepts Underlying Assumptions‚ Principles‚ and Conventions Assumptions The following are basic financial accounting assumptions: Separate entity assumption - the business is an entity that is separate and distinct from its owners‚ so that the finances of the firm are not co-mingled with the finances of the owners. • Going concern assumption - the business is going to be operating for the foreseeable future. Stable monetary unit assumption - e.g. the U.S. dollar • Fixed
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Cost Concepts for Managerial Decision Making Prepared for instructional use in Economics For Managers ECG 507 College of Management North Carolina State Universiy © Stephen E. Margolis 2000 Soon we will be using the concepts of cost that are presented in Landsburg’s chapters five and six to analyze market behavior of firms. With a bit of interpretation‚ however‚ these concepts have immediate application to ordinary decisions that
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