implementing it and attempting to control outcomes so that they confirm to or exceed the result called for by the plan. Budgeting is an element of cost accounting‚ because mush of planning related to cost the organization expects to incur. 1.1 IMPORTANCE OF BUDGETS Budgeting is important process in organization. A budget process that works well could produce benefits as follow. * To pre-determine the capital expenditure of business. * To plan and control the income expenditure
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Money is the most important factor motivating workers today. Discuss this statement with reference to motivational theories you are aware of. The word motivation according to Richard Romando is gotten from the Latin phrase "movere"‚ which means to move. Motivation is defined as an inner drive that activates performance and gives it direction. The term motivation theory is concerned with the process that explains why and how human behaviour is stimulated and directed. It is considered as one of the
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Define and discuss the different theories of management‚ using practical examples from your experience or knowledge. Compare classical management theory to any contemporary. * * * Nowadays we have new implementing plans for management. The different theories of management are: classical‚ behavioral‚ quantitative and quality management theory‚ systematic and contingency management theory. The classical management theory focuses on finding the “one best way” to accomplish and
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healthy and productive employee relationships. Teams can accomplish work more quickly and effectively than people taking on projects on their own and collaborative work also keeps employees accountable to each other‚ which increases motivation. Importance of Teamwork Work Efficiency Teamwork enables you to accomplish tasks faster and more efficiently than tackling projects individually. Cooperating together on various tasks reduces workloads for all employees by enabling them to share responsibilities
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Importance of branding Executive summary This essay deals with the importance of brand image and brand building for companies and how they can adapt their promotional mix‚ in order to obtain the desired results‚ related to their image. First of all‚ it is necessary to get to know the market environment. It is essential for one company that they know how the consumers act: what is their culture? What are their habits? Who are the competitors? Once they have a good impression of the market
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Importance of logistics and supply chain management Even as companies have learnt to squeeze efficiencies out of their manufacturing plants through concepts like just in time replenishment‚ statistical process control‚ and lean manufacturing practices‚ they still find that moving goods and services through several layers of their global supply chains is time consuming and costly. Logistics and supply chain management has become one of the last frontiers that still remain to be conquered by most
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Essay Topic Given the importance of teamwork‚ collaboration and network building in the professional world and in a modern academic program‚ what are the most significant strengths and contributions you bring to the group and the program? Mention any particular experiences have you had with team development and team dynamics. When I was working in TF in 2008‚ I was selected to lead a PPI (Practical Process Improvement) Project on company AR DSO improvement. In this project team‚ all the members
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K. A. POTOCKI AND R. C. BROCATO QUALITY MANAGEMENT A System of Management for Organizational Improvement Kenneth A. Potocki and Richard C. Brocato F aced with cutbacks in funding‚ escalating costs‚ global competition for limited resources‚ and a demand for higher-quality outcomes‚ organizations of all types have felt the pressure to operate more effectively. Organizational improvement is required. Based upon various management approaches‚ five guiding principles are being used to make
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MANAGEMENT REVISION NOTES. Organisational levels Top managersresponsible for making organisation wide decisions and establishing the goals and plans that affect the entire organisation First line managers the lowest level of management‚ and manage the work of non-managerial employees Middle managers all levels of management between the first line level/top level of the organisation The changing face of organisations and management Stable Dynamic Inflexible - Few or slow changes - Local
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Question: What Is the Importance of Chemistry? What is the importance of chemistry? Why would you want to learn about chemistry? Chemistry is the study of matter and its interactions with other matter and energy. Here’s a look at the importance of chemistry and why you should study it. Answer: Chemistry has a reputation for being a complicated and boring science‚ but for the most part‚ that reputation is undeserved. Fireworks and explosions are based on chemistry‚ so it’s definitely not a boring
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