Strategy and Structure The purpose of business-level strategies is to create differences between the firm’s position and those of its competitors. To position itself differently from competitors‚ a firm must decide whether it intends to “perform activities differently” or to “perform different activities”. Cost leadership strategy Tiger airways has chosen the former it exploiting a cott leadership strategy. It has an integrated set of actions taken to produce services with features
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Microeconomics Topic 6: “Be able to explain and calculate average and marginal cost to make production decisions.” Reference: Gregory Mankiw’s Principles of Microeconomics‚ 2nd edition‚ Chapter 13. Long-Run versus Short-Run In order to understand average cost and marginal cost‚ it is first necessary to understand the distinction between the “long run” and the “short run.” Short run: a period of time during which one or more of a firm’s inputs cannot be changed. Long run: a period of time during which
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Caltius‚ putting the notes in default and driving the firm into bankruptcy. Was it negligence‚ like the cobbler who forgot to repair his own children’s shoes? Had Monitor tried to implement Porter’s strategy and executed it poorly? Or had Monitor implemented Porter’s strategy well but the strategy didn’t work? If not‚ why not? Was it missteps‚ such as chasing consulting revenue from the likes of the Gaddafi regime in Libya? Or had the world changed and Monitor didn’t adjust? Or was it‚ as others
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manufacturing cost categories. LO2 Distinguish between product costs and period costs and give examples of each. including calculation of the cost of goods sold. LO4 Prepare a schedule of cost of goods manufactured. LO5 Understand the differences between variable costs and fixed costs. LO6 Understand the differences between direct and indirect costs. LO7 Define and give examples of cost classifications used in making decisions: differential costs‚ opportunity costs‚ and sunk costs. LO8
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is not sure about the difference between cost accounting and a cost accounting system. Explain the difference to Joe. (b) What is an important feature of a cost accounting system? 2. (a) Distinguish between the two types of cost accounting systems. (b) May a company use both types of cost accounting systems? 3. What type of industry is likely to use a job order cost system? Give some examples. 4. What type of industry is likely to use a process cost system? Give some examples. 5. Your roommate
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> Using Fac ebook to market your business > Benefits of Facebook for bus iness Benefits of Facebook for business A Facebook page has many potential benefits for your business. While some of these benefits are similar to having a website‚ a number are unique to Facebook. Combined‚ the benefits listed below can lead to increased sales and profits for your business. Facebook is a low-cost marketing strategy Marketing activities that would cost thousands of dollars through other channels can
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for normal repairs to maintain the usefulness of the asset over a number of years. 2) are for items that have a physical life of more than a year‚ regardless of their cost. 3) are material and that have an economic benefit to the entity only in the current year. 4) are material and that have an economic benefit to the entity that extends beyond the current year. Question 11 0 / 1 point Cassady‚ Inc. borrowed $5‚000 for 3 months at an APR of 10%. The amount of interest paid on
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opportunity cost of a choice is the value of the best alternative forgone‚ in a situation in which a choice needs to be made between several mutually exclusive alternatives given limited resources. Assuming the best choice is made‚ it is the "cost" incurred by not enjoying the benefit that would be had by taking the second best choice available.[1] The New Oxford American Dictionary defines it as "the loss of potential gain from other alternatives when one alternative is chosen". Opportunity cost is a key
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than 21 countries with applied low cost as their core business. In addition‚ efficient and maintaining a simple aircraft fleet and a route network based on low-cost airports. Besides that‚ objective of AirAsia Berhad operates scheduled domestic‚ regional and international flights to over 400 destinations spanning 25 countries (academia.edu‚ 2013). AirAsia Berhad carries 70 million passengers a year‚ within six years starting from 2014. In addition‚ turn the low-cost carrier terminal at the Kuala Lumpur
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corporations have to take. Cost analysis is one of the factors that should be taken into consideration while evaluating financial and investment decisions. This paper reviews the concept of cost analysis‚ how it is used in decision making‚ and how firms usually involve cost analysis in evaluating different projects. Furthermore‚ the paper discusses some of the main concepts that are derived from cost analysis such as cost allocation‚ cost-effectiveness analysis‚ and cost-benefit analysis. In addition
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