Relevant Costs Defined Relevant costs possess two characteristics: (1) They are future costs and (2) They differ across alternatives. All pending decisions relate to the future; accordingly‚ only future costs can be relevant to decisions. However‚ to be relevant‚ a cost must not only be a future cost but must also differ from one alternative to another. If a future cost is the same for more than one alternative‚ then it has no effect on the decision. Such a cost is irrelevant. The
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Manage Operational Plan Assessment Activity 1 Describe the purpose of the operational plan and describe its relationship to the strategic plan. An operational plan is an organisational planning document derived from the strategic plan. The strategic plan provides a high-level outline of the organisation’s mission‚ general direction and broad goals and the operational plan is a detailed document that outlines how the organisation’s strategic goals will be achieved in practice. The operational
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I. Cost behavior defined Module 4 Review Questions The left column lists several cost classifications. The right column presents short definitions of those costs. In the blank space beside each of the numbers in the right column‚ write the letter of the cost best described by the definition. A. Curvilinear cost B. Step-wise cost C. Fixed cost D. Mixed cost E. Variable cost F. Total Cost ___E_1. This cost increases in direct proportion to increases in volume; its amount is constant for each unit
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Strategic Goal | Operational Activity | Measurement | Person Responsible | Timeline | Increase market share in luxury handbags. | Gain a larger share of the luxury handbag market | Having a better understanding of our customers’ needs and attitudes. Identify new opportunities and future high growth areas | Marketing DepartmentFinance DepartmentSenior Management | 12 Weeks | Design a product that is superior to other comparable styles | Have a product that is higher in quality and appearance
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Operational Plan (Unit 6) (This section of the plan should contain: 1. Information about your products or services including how and where your products or services are produced‚ production techniques‚ quality control‚ customer service‚ inventory control‚ and product development; Strategy and Implementation Summary In order to place emphasis on exceptional service‚ our main tactics are bi-monthly service training‚ employee recognition‚ and higher service employee to customer ratios. Our specific
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essence of this step is to establish performance objectives‚ which are expressions of the desired results of the training event. If not written down‚ at least have in your mind what you expect to happen. A simple example is‚ “The trainee will be able to set up a dumpy level.” Also think through how you will evaluate or test the trainee to determine progress in learning. Step 2 - Once the learning objectives are established‚ the development of the training can be accomplished. This step establishes the
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Operational Management Part one 1. Building a New Classroom block The school board decide from past experience that the funds in the school coffers would be enough to cover the cost. Once that has been ascertained‚ the building site is identified. Architects design a plan for the new classroom block and send it to the county council for approval. Whwn approaval is received the school obtains a quoutation from the school approved contractor. Te contractor suggests a fix and supply contract
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approach optimal solution using quantitative techniques. Course Learning Outcomes CLO # Description 1 To understatnd the conversion of feasible solution(s) into optimal solution with the help of quantitative techniques of the business problem such as transpotational cost‚ assignment model‚ decision analysis etc. 2 To improve analytical skills by optimal techniques. 3 To learn better decision making skills by defined Operations Research tools and techniques. 4 To meet the real life business
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organization. The current curriculum focused on undergrad course level material “ Human Resources Management 201”; Employment Laws‚ Job Descriptions‚ Compensation & Benefits‚ Recruitment/Selection Processes‚ Training & Development‚ and Operational Diversity. The topics that are relevant to this course are the following: Strategic Human Resources Management‚ Management of Ethics and Organizational Policy‚ Management of Complex Systems and Strategic Workforce Planning and Management. The above
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Community policing Community policing is defined as a " philosophy that promotes organizational strategies‚ which support the systematic use of partnerships and problem-solving techniques‚ to proactively address the immediate conditions that give rise to public safety issues such as crime‚ social disorder‚ and fear of crime" according to the U.S. Department of Justice. (U. S. Department of Justice). In other words the main goal of community policing is the allocation of various police agencies/staff
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