Cost/Benefit Analysis Evaluating Quantitatively Whether to Follow a Course of Action You may have been intensely creative in generating solutions to a problem‚ and rigorous in your selection of the best one available. However‚ this solution may still not be worth implementing‚ as you may invest a lot of time and money in solving a problem that is not worthy of this effort. Cost Benefit Analysis or CBA is a relatively* simple and widely used technique for deciding whether to make a change. As its
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CASE: E-323 DATE: 11/18/08 IDENTIFYING VENTURE OPPORTUNITIES I never perfected an invention that I did not think about in terms of the service it might give others... I find out what the world needs‚ then I proceed to invent. —Thomas Edison INTRODUCTION One of the biggest questions on every hopeful entrepreneur’s mind is‚ ―how do I come up with a compelling idea for a new venture?‖ While there is no right or wrong answer to this question‚ there are several things to be aware of and thinking
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COST OF PRODUCTION CONTENTS 1. Introduction 2. Types of costs 3.1 Opportunity‚ implicit and explicit costs 3.2 Fixed and variable costs 3.3 Average costs 3. Types of cost curves 4.4 Marginal cost curve 4.5 Average cost curves 4. Costs in Short run and in the Long run 5.6 Short run 5.7 Long run 5.8 Economies of scale 5. Cost analysis in the real world 6.9 Economies of scope 6.10 Experiential
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organizations are owned and controlled by private parties‚ no interaction with state. Example of private sectors are : retail business‚ banks‚ local business and etc. Limitation of Private and Public hospital Private Sector Public sector Cost Not everyone can enjoy the benefit it is very expensive It is very low compare to private hospitals Service Doctors works in private sector seem to well experienced compare to public and there more than 1 doctor for patient Doctors are not
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the definition of quality has two aspects from the customer’s perspective: Quality is... 1. A greater number of features that meet customer needs 2. Fewer defects Key Attributes The Juran Trilogy Fitness for Use Quality Council Pareto Principle 10 Steps to Quality Improvement The Juran Trilogy To attain quality you must begin by establishing the vision‚ policies and goals of the organization. Converting these goals into results is done through three managerial processes called the
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>> OPPORTUNITIES Huge Market Potential - In a country of a billion people‚ the Indonesian aviation industry is puny. Indonesia have 12 million people who travel by air every year against 3 million passengers who fly everyday in the US‚ even though its population is one-fourth that of Indonesia. Even if we assumed that only one-fourth of that large middle-class could afford and would be willing to travel by air‚ it would call for at least a 5-6-fold increase in capacity. This points to a huge opportunity
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Marketing opportunities Executive Summary: BBQfun is one of Queensland’s specialty retailers. The BBQfun brand is synonymous with barbeque retailing and is built on the strong foundation of selling barbeques and outdoor lifestyle items to Queensland consumers since 2009. BBQfun’s product range is primarily focused on barbeques and outdoor lifestyle products‚ incorporating both local and important goods. BBQfun operates two stores in Queensland‚ one in Brisbane and one at the Gold Coast. BBQfun provides
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YOUR TEXTILES OPPORTUNITY OPPORTUNITY EGYPT 1 Contents Textiles and Ready-Made Garments: Sector Overview Competitive Strengths and Capabilities Statistics & Exports Strong Government Support for the Textiles Industry Sector Drivers Success Stories OPPORTUNITY EGYPT 2 Textiles and Ready-Made Garments Sector Overview Egypt is home to the only fully vertically integrated textiles industry in the Middle East‚ with the entire production process — from the cultivation of
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Managing Cost of Quality: Insight into Industry Practice Andrea Schiffauerova *‚ Vince Thomson ** * École Polytechnique de Montréal‚ Department of Mathematics and Industrial Engineering‚ Montreal ** Department of Mechanical Engineering‚ McGill University‚ Montreal‚ Canada Article Reference: Schiffauerova‚ A. and Thomson‚ V.‚ “Managing cost of quality: Insight into industry practice”‚ The TQM Magazine‚ 2006 Abstract This paper reports on the study of the quality costing practices at four large
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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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