Structure Setting and Adjustment | Definition | A pay structure is a collection of pay rates or pay ranges.Structure setting and adjustment is the process of developing‚ adjusting‚ and maintaining a pay structure. | Purpose | Pay structures are used to help organizations: * maintain pay levels that are competitive with the external labor market‚ * maintain internal pay relationships among jobs‚ * recognize and reward differences in level of responsibility‚ skill‚ and performance‚ and
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Cost reduction Generally defined as the act of cutting costs to improve profitability. Cost reduction‚ should therefore‚ not be confused with cost saving and cost control. Cost saving could be a temporary affair and may be at the cost of quality. Cost reduction implies the retention of essential characteristics and quality of the product and thus it must be confined to permanent and genuine savings in the costs of manufacture‚ administration‚ distribution and selling‚ brought about by elimination
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Q: Is depreciation expense or depreciation cost is fixed cost or variable cost in nature? Fixed costs: Fixed costs are such costs that do not change with the change in activity level within the relevant range. Where relevant range can be defined in terms of time or activity level. Variable costs: Variable costs are such costs that change with the change in activity level . Coming to the question‚ depreciation expense or depreciation cost can either be fixed or variable and this depends on the
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Cost Accounting – Classification of costs Cost accounting refers to a process of accumulating‚ recording‚ classifying and analyzing all costs incurred at various levels of production. The purpose of cost accounting is manifold. It provides a final selling price‚ suggests the best possible course of action where maximum savings are possible and a strategy for future. Cost accounting is also constructive in comparing the input and output results that ultimately aids the management to arrive at a financial
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products. Chuck questioned if the current cost-management system was providing the management with accurate data about product costs. In a traditional‚ volume-based product-costing system‚ only a single predetermine overhead rate is used. All manufacturing-overhead costs are combined into one cost pool‚ a grouping of individual indirect cost items‚ and they are applied to products on the basis of a single variable that costs over a given time span (cost driver) that is closely related to production
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Product cost is the cost of direct labor‚ direct materials‚ and manufacturing overhead that are consumed to create a product. Product cost can also be considered the cost of the labor required to deliver a service to a customer. Direct Material Cost Definition: Direct material cost is the cost of materials used to manufacture a product or provide a service. Direct Labor Definition: Direct labor is production or services labor that is assigned to a specific product‚ cost center‚ or work order
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In Clare Sears “Electric Brilliancy: Cross-Dressing Law and Freak Show Displays in Nineteenth Century San Francisco” She explains the cross-dressing laws that were placed in San Francisco in 1863. It was mid-way through the civil war that the San Francisco Board of Supervisors passed a local law against cross-dressing that prohibited people from dressing like the opposite sex. From 1861 to 1900‚ twenty one states passed the cross-dressing law. The penalties placed for committing cross-dressing was
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AND EVALUATION OF LEADERSHIP IN THE CONTEXT OF FORMULATING BUSINESS STRATEGY Leadership is the art of getting someone else to do something you want done because he wants to do it. —General Dwight Eisenhower What is leadership? It is a process by which one person influences the thoughts‚ behavior‚ actions and attitudes of other people. Leaders set an example‚ they show a vision for the rest to follow‚ and they encourage and inspire to reach the needed goals. Leadership sets a direction‚
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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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about the development of sustainability leadership framework‚ especially from the business strategy to the business results. First‚ it consists of an illustration of the need for a comprehensive sustainability leadership framework. Second‚ it describes about the core construct in the context of corporate sustainability related to workforce engagement. Further‚ it also illustrates about the macro-level and micro-level components of sustainability leadership respectively. INTRODUCTION Generating
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