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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LEADERSHIP Are good leaders made or born? The question has remained unanswered since centuries. A leader is one who can get it done through his followers any and every impossible task possible. Although there is a huge gap between a leader and a Boss. A boss is one who has the authority to get work done through his subordinates‚ and the leader is one who influences his team to work for him. Leadership differs in that it makes the followers want to achieve high goals rather than simply bossing people
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Generally‚ the term cost of production refers to the ‘money expenses’ incurred in the production of a commodity. But money expenses are not the only expenses incurred on the production of a commodity. There are number of services and inputs such as entrepreneurship‚ land‚ capital etc.‚ which are offered by an entrepreneur without changing any price or receiving any payment for them. While computing the total cost of production‚ allowance should be made for such expenses. It is therefore essential
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COST CONCEPTS AND COST ACCOUNTING By: Aman Jawahar Sarika Deepak Muneer CONTENTS Concept of Cost Cost Accounting Terms in Cost Accounting Elements of Cost Meaning of Overheads Classification of Costs Methods of Costing Types of Costing MEANING: Cost Concept: The term ‘cost’ means the amount of expenses [actual or notional] incurred on or attributable to specified thing or activity. Cost means ‘the price paid for something’. Cost Accounting: Cost Accounting is concerned with recording
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ASSIGNMENT ON COST CONTROL AND COST FREDUCTION SUBMITTED BY‚ MOHAMMED NAFAISE E.K ROLL NO: 1600 COST CONTROLL & COST REDUCTION COST CONTROL The practice of managing and/or reducing business expenses. Cost controls starts by the businesses identifying what their costs are and evaluate whether those costs are reasonable and affordable .Then if necessary
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strength usually falls into one of two headings: • Cost advantage • Differentiation By applying these strengths in either a broad or narrow or narrow scope‚ three generic strategies result: • Cost leadership • Differentiation • Focus These strategies are applied at business unit level. They are called generic strategies because they are not firm or industry dependant. Cost Leadership: This generic strategy calls for being the low cost producer in an industry for a given level of quantity
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Boston Consulting Group Matrix of Procter & Gamble’s Tide Detergent The Boston Consulting Group (BCG) Matrix allows Procter & Gamble (P&G) to comprehend how consumers perceive Tide Detergent based on market growth and market share. P&G can utilize this information to determine if they should increase or reduce investments for their strategic business unit (SBU)‚ Tide. This paper will discuss the relationship of Positioning‚ Market Share‚ and Marketing Research in the BCG matrix suggesting
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systems‚ was centred round the consumer. P&G top manager realize that the company’s supply network needed to be re-engineered so that it could be more responsive to consumer demand. This was especially important for promotional items‚ because of the cost of merchandising and promotional activities‚ and the long-term negative impact of stock-outs on consumers. After customers have been unable to buy the desired product and have switched to alternatives‚ it becomes hard to persuade them to return to
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OBJECTIVE Leadership can be defined as the ability to influence‚ motivate and enable other people to contribute toward the effectiveness and success of the organization. The main objectives to make this report is to apply and relate the public figure leadership style with this subject. From what I learn there are 4 leadership style in path goal model: directive‚ supportive‚ participative and achievement oriented. There are related to the employees and the situation occur. According to the founder
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Strategic Audit of Kimberly-Clark Competition in the diaper industry raged on as Kimberly-Clark (KC) strived to stay ahead of its main competitor‚ Proctor and Gamble (P&G). By the end of 1989‚ KC’s Huggies controlled 32% of the market share—the highest of any single product competing in the diaper market. Now facing significant financial constraints‚ the leader in personal care products endeavored to create product improvements that would hold market share and outperform Proctor and Gamble’s
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