Following the signal to abandon ship‚ it took Costa Cruises just under three hours to release their first statement. The company confirmed the evacuation of approximately 3‚200 passengers and 1‚000 crewmembers from the Costa Concordia. The press release stated that at the time‚ the cause of the incident could not be confirmed and assured the public that they were “working with the highest commitment to provide all needed assistance to guests‚ crew members and the local Italian authorities”. The
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Creativity‚ Invention and Innovation – Relationship and differentiation This article explores the relationship and differences between creativity‚ invention and innovation in the organisational context. Creativity‚ invention and innovation are not the same thing. Creativity is the ability to see or perceive the world in different ways and to make connections between things that may be unrelated or those that we previously thought were not connected resulting in a generation of solutions
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J.C. Penney’s CEO Ron Johnson embraced focused-differentiation as his primary competitive strategy. The focused-differentiation strategy is to offer products or services that are of unique or superior value compared to those of competitors and to target a narrow market. This strategy closely mimicks differentiation strategy as both are used in efforts to attract customers‚ but focused-differentiation is more focused on a certain group of potential customers. The CEO was targeting a different kind
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So‚ on the outside possibility that some editor at Reader’s Digest will read this and then decide to publish it‚ which will then catch the attention of the principal of Mira Costa High School‚ I have decided to give my speech here. (Note: "mira costa" is not Spanish for "mired in costs." The Spanish phrase for "mired in costs" is "graya davisa.")
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Internal/domestic environments a) The business decision making process in Indian govt. sector is pretty slow which leads to unnecessary loss of time and money. In this case‚ the slow process lead the to loss of opportunity to buy a firm (premier Oil) b) There are much more than required levels of clearances that needs to be taken to acquire a company abroad. Application is reviewed by members of special committee of RBI‚ Finance and commerce ministries. Since three organizations
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following data have been recorded for recently completed Job 501 on its job cost sheet. Direct materials cost was $3‚067. A total of 30 direct labor-hours and 104 machine-hours were worked on the job. The direct labor wage rate is $12 per labor-hour. The company applies manufacturing overhead on the basis of machinehours. The predetermined overhead rate is $11 per machine-hour. The total cost for the job on its job cost sheet would be: A. $4‚571 B. $3‚757 C. $3‚090 D. $3‚427 Applied manufacturing
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11 Allocation of Joint Costs and Accounting for By-Product/Scrap Objectives After completing this chapter‚ you should be able to answer the following questions: LO.1 LO.2 LO.3 LO.4 LO.5 How are the outputs of a joint process classified? What management decisions must be made before beginning a joint process? How is the joint cost of production allocated to joint products? How are by-product and scrap accounted for? How should not-for-profit organizations account for the cost of a joint activity?
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Cost Control and Cost Reduction A business enterprise must survive‚ grow‚ and prosper. Cost Control and Cost Reduction are activities necessary for ensuring that these objectives are fulfilled. With the liberalization of the Indian Economy and Globalization‚ there is now a cut throat competition from various concerns of the world. As a result there is now a race to secure a place for survival. This has increased the importance of cost control and Cost Reduction. Cost Control “Cost control
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Cost Management or Cost Control In broad sense‚ both the terms have the same meaning. Yet cost management seems to connote broader perspective. Cost control to an un-initiated may mean cutting down the incurrence of cost or expenditure every time or in every situation. In reality it is not always so. In many specific situations‚ many times‚ one has to spend or incur cost in order to gain or make more money. It is in fact like an investment. Cost management sounds better then. Profits Making
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your actions inspire others to dream more‚ learn more‚ do more and become more‚ you are a leader.” — John Quincy Adams Leadership style is the combination of traits‚ skills‚ and behaviors leaders use as they interact with people. In order for one to favor a leadership style‚ one must understand where the leadership styles originated. Throughout the years‚ the topic of leadership has been debated. However‚ research indicates that certain characteristics or traits are inherent in leaders According
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