output controls‚ respectively. INPUT CONTROLS Input control is that marketing strategy cannot be implemented correctly unless the proper tools and resource are in place for it to succeed. Elements of input control are recruiting‚ selecting‚ and training employees‚ and also financial resource. These control activities include resource allocation decisions (manpower and financial)‚ capital outlays for needed facilities and equipment and increased expenditures on research and development. PROCESS
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05) than the clinical supervisors. A much higher proportion of clinical nurse managers and nurse executives engage in budgeting activities on a regular basis. This research underscores the fact that when there is opportunity for input in the resource allocation process‚ nurse managers are evaluated based on attaining goals and performance standards that focus on financial management
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Economies have to find a mechanism to allocate scarce resources because of the economic problem. The What‚ How‚ For Whom questions are central to the operation of this mechanism. To recap from the economic system lesson‚ the mechanism used by different systems: Command economy: Planning mechanism as dictated by the state Free Market economy: Price mechanism as dictated by consumer spending Mixed economy: A mixture of state planning and the market mechanism. Central to this module
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system is a system used to allocate resources because resources are limited. An economic system can be defined as a basic means of achieving economic goals which is inherent in the economic structure of a society (B.B.G Dictionary of Business Terms‚ 1987). The major function of an economic system is to work out the basic economic problems which are; *What is to be produced‚ *How is it to be produced‚ *For whom to produce and *How efficient is the use of resources. These economic problems are caused
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budget encourages good decision-making. Means of Allocating Resources During the budgeting process many resource allocation decisions are made. Different segments may require resources for capital expenditure that the organisation can’t fully meet. The organisation will make decisions based on the various rates of return. Uncover Potential Bottlenecks Have I the resources to meet my revenue projections in terms of manpower‚ material resources and capital equipment? Coordinate Activities The budgeting
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what are Galanz competitive and operation strategy and how does the operation strategy support its competitive strategy Galanz has built highly its industrial "Threshold" based on its cost advantage. In China‚ there is not any field other than the field of microwave-ovens that is featured by a "Highly Concentrated Brand" which even can be deemed as having entered the "Oligopoly" of the industry: The first corp of Galanz itself holds the market share of about 60%‚ the second corp of LG accounts
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Pulls people‚ who hold it‚ towards it. Mission Statement of business. States the business reason for the organization’s existence. Does not state an outcome. Contains no time limit or measurement. Provides basis for decisions on resource allocation and appropriate objectives. Defines current and future business in terms of product‚ score‚ customer‚ reason‚ and market price. Goals Results to be achieved. Describes ideal states to be achieved at some unidentified future time
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cost and improved relationship between police and communities. The challenge of high level of resource requirement can be addressed by proposing a multi-phased implementation strategy where implementation will be broken down into several phases to reduce the budget
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out. • Enable the actual financial operation of the business to be measured against the forecast. • Establish the cost constraint for a project program‚ or operation. The government budget is a set of procedures by which the government rations resources among claimants and control the amount each claimant spends. This is through accounting of the payments received by government (taxes and other fees) and the payments made by government (purchases and transfer payments). The annual budget is the
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points Many not-for-profit organisations (NFPs) feel they are poorly understood by government and the general public. Pressures to be more efficient have seen overhead spending reduced at considerable detriment to effectiveness and improved resource allocation over time (allocative efficiency). The sector is diverse‚ but NFPs display some common behavioural patterns: – Whereas the behaviour of for-profit business is driven mostly by their desire for profits‚ the behaviour of NFPs is driven mostly
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