INCREAS PROFITABILITY OF BRANCH profit center Definition A business unit or department which is treated as a distinct entity enabling revenues and expenses to be determined so that profitability can be measured. Distinctly identifiable department or unit that contributes to the overall financial results of a firm. Where adequate cost accounting systems are in place‚ profit centers are given responsibility to target certain percentages of the total revenue and are given adequate authority
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章，我们在一系列文献整理的基础上，更好的了解中国文化和中国企 业文化，并进而讨论文化与创新之间的联系。并且最后我们将举出一 些取得成功的中国本土企业的例子，并探讨他们成功的经验。 Culture has covered several areas which related to human beings’ life‚ it was manifested in process of doing‚ value judge‚ communication manners‚ education issues‚ historical events‚ economic situation and so on in communities. So‚ the culture would impact the operation ways of a corporation. Through the prevalent theory of Hofstede’s culture division‚ we understood that Chinese culture has its characteristics which could be portrayed
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Firms did not flourish until the early 20th century. They emerged as an authorized structure and were granted exclusive rights to trade and conduct business in certain markets and products. The fact that firms are a different way to organize economic activities cannot explain explicitly and adequately the reason of firm formation. Many socialists and economists have given their interpretations of the conditions under which firms emerged and developed in certain ways in a specialised exchange economy
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Profit Determination Prepared by John Hoggett and Clare Innes Measurement of Profit • Cash basis • Cash income received - Cash expenses paid – Revenues recorded when received – Expenses recorded when paid • Accrual basis • Profit = Income (incl. Revenues) - Expenses – Revenue is recognised when the anticipated inflow of economic benefit can be reliably measured – Expenses when the consumption of benefits can be reliably measured 2 Adjusting Entries • The need for adjusting entries-
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Prime cost. | B | Conversion cost. | C | Period cost. | D | Nonmanufacturing cost. | 2. | Prime cost and conversion cost share what common element of total cost? | A | Direct materials. | B | Direct labor. | C | Variable overhead. | D | Variable overhead. | 3. | On the Schedule of Cost of Goods Manufactured‚ the final Cost of Goods Manufactured figure represents: | A | the amount of cost charged to Work in Process during the period. | B | the amount of cost transferred
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Good leadership can create a miracle Leadership can be so transformational that creates miracles. Herb Brooks was the perfect example of a ‘game changer’ in the hockey field. His leadership features were: vision‚ motivation‚ innovation‚ strategic thinking‚ confidence‚ perseverance and strong sense of purpose. He worked relentlessly towards his vision “to win a gold medal in the winter Olympics”. He defeated all odds by analyzing his biggest competitor (Russia)‚ defining a winning strategy (combination
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Short Essay on Coase’s article: “The Nature of the Firm” Coase’s article “The Nature of the Firm” provides a set of answers to important questions such as “Why do firms exist?” “What characterizes firms?” and “What determines their scale and scope?” According to Coase‚ a firm has to find the most cheap‚ most productive goods and services by establishing contracts in an open‚ efficient market place. However‚ market places are not that pure to let firms to succeed in their needs; they are not fluid. This
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make invention accessible. * Quirky – Brain Child of Ben Kaufman a Social Entrepreneur. Quirky is a platform for product ideas that are not generated as part of formal Business and Technology incubation process. But it is a platform where anyone can present his/her idea by paying consideration of USD 10. Basically many people get ideas while actually delivering the tasks and Quirky brings such people together. * It uses crowdsourcing to develop the product‚ by engaging participants in collaborating
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Available online at www.sciencedirect.com European Journal of Operational Research 186 (2008) 1059–1067 www.elsevier.com/locate/ejor Decision Support An efficient and simple model for multiple criteria supplier selection problem Wan Lung Ng * Department of Management Sciences‚ City University of Hong Kong‚ 83 Tat Chee Avenue‚ Kowloon Tong‚ Hong Kong Received 16 December 2005; accepted 8 January 2007 Available online 20 February 2007 Abstract Simply looking for vendors offering the lowest prices
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Question1. Describe the concept of vision in an organisation with example. How is it different from mission statement ? A vision statement is a vivid idealized description of a desired outcome that inspires‚ energizes and helps you create a mental picture of your target. It could be a vision of a part of your life‚ or the outcome of a project or goal. Vision statements are often confused with mission statements‚ but they serve complementary purposes. Examples of vision statement The nature
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