TYPES OF COSTS Introduction :-Production is the result of services rendered by various factors of production.The producer or firm has to make payments for this factor services. From the point of view of the factor inputs it is called ‘factor income’ while for the firm it is ‘factor payment’‚ or cost of inputs.Generally‚ the term cost of production refers to the ‘money expenses’ incurredin the production of a commodity. But money expenses are not the only expensesincurred on the production
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2.1 Introduction Strategic management consist of analysis‚ decision and action in order to create and sustain competitive advantages. Strategies are the decision and action that determine the long-run performance of an organization. Business model is a strategic design for how a company intends to profits from its strategies‚ work processes and work activities. In addition‚ business model focuses on two things: * Whether customer will value what the company is providing * Whether the
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Ronald Coase noted‚“The cost of doing anything consists of the receipts that could have been obtained if that particular decision had not been taken.” For example‚ the opportunity set for this Friday night includes the movies‚ a concert‚ staying home and studying‚ staying home and watching television‚ inviting friends over‚ and so forth. The opportunity cost of taking job A included the forgone salary of $102‚000 plus the $5‚000 of intangibles from job B. Opportunity cost is the sacrifice of
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Strategic Planning Process – Case Analysis The Strategic Planning Process: The Strategic Planning Process involves numerous steps in evaluating the effectiveness of a firm’s performance relative to its competitors. To assess each of the components of a business‚ selected evaluative tools must be used. The tools are meant to serve as guidelines and not specific decision points. Management must decide upon the most appropriate pathway for the firm to follow given the input from both the
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The Board of Directors consists of three people: CEO - Ioana Iordache (12.8% of shares)‚ Managing Partner Stefan Iordache (12.8% of shares) and Creative Director - Bogdan Naumovici (5.5% of shares). Ioana and Stefan are the managers and the strategic minds of the company and Bogdan Naumovici is the informal leader and masterful communicator. Naumovici is renowned in the advertising industry for his very flamboyant personality and competitive spirit. Brash‚ outspoken and efficient‚ he is the most
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successful cost reduction programmes In the current economic climate‚ most organisations must face up to a prolonged period of extreme competition and funding restrictions. This is particularly the case if the past few years have been focused on growth‚ service improvement or reorganisation (i.e. cost efficiency has not been a recent priority). Such pressures require an approach that reduces costs in a strategic‚ disciplined‚ and sustainable manner - delivered at pace. In our view serious cost reduction
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Reading 1.1 Are you sure you have a strategy? The elements of strategy Arenas Vehicles Differentiaors Staging Economic logic IKEA Table 1 Testing the quality of your strategy The emergence ( ) of strategy Developing the strategy Figure 1.2 Strategic planning process leader Ethics in leadership Classical view of ethics profit maximisation Socioeconomic/broader view of ethics Approaches to strategy ) approach Rational ( Ansoff (1965) Module 4) five foruces (Porter 1980) Processual approach
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Case study A dabbawala is a person in the Indian city of Mumbai whose job is to carry and deliver freshly made food from home in lunch boxes to office workers. Dabbawalas picks up 175‚000 lunches from homes and delivers them to harried students‚ managers and workers on every working day‚ at their desk‚ 12.30 pm on the dot. Customers can even order through the Internet. After the customer leaves for work‚ his/her lunch is packed into a lunchbox by his family members. A color-coded notation
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bicycle and Spare parts database & billing system for tayag bike shop __________________________ An Information System Project Presented to Miss Gloria Lopez Prellejera Tarlac State University Tarlac City __________________________ In Partial Fulfillment Of the Requirement for the Degree of Bachelor of Science in Information System __________________________ By: Dizon‚ John Michael G. Espinosa‚ Princes C. Morilla‚ Jandanver N. March 2013 Table of Contents Title Page……………………………………………………………………………………………
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Another example of how effective ending each episode with an overall message is‚ in the last scene in the episode‚ The Bicycle Thief. The episode begins with a question for all the fathers of the show: What is the key to being a great dad? Most of them gave simple answers such as: be your kid’s buddy or give them the freedom to be whatever they want to be‚ all except Jay. Jay could not think of an answer to say and even after a few seconds to think about it he still could not come up with anything
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