INVENTORY MANAGEMENT (JIT AND BLACKFLUSH COSTING) Inventory Management includes planning‚ coordination‚ and controlling the flow of inventory into‚ through‚ and out of company. There are 5 categories of cost that are associated with goods sold: 1. Purhcasing costs: the cost of goods from supplier and freight 2. Ordering costs: the cost of preparing purchase orders‚ receiving and checking the goods‚ matching invoices received‚ purchase orders and delivery notes to make payments 3. Storage cost:
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Labor Relations Week 6 Final Paper Union Campaigning Process Campaigning is something that is done in many aspects of life. It breaks down to basically creating arguments to sell yourself or your company to a group of people. President hopefuls set out on a campaign trail every four years to try and get people to vote for them. I always thought that this was the only form of campaigning‚ but I was incorrect. Employers and Unions both use campaigning to get workers to either avoid‚ or join
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CHAPTER SUMMARY 1. Basic concepts Organizational Structure: is the formal framwork by which job tasks are divided grouped and coordinate Organizing: is the process by which management seeks its objectives by combining the efforts of people under its supervision Organizational design: a process of selecting and executing an organizational structure consistent with the organizational strategies and environment 2. Six key elements Work specialization (division of labor): is the degree to which
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Political – Legal Settlements: After the Deepwater Horizon oil spill in the Gulf of Mexico‚ BP faced many different legal settlements that were enforceable by court. Many of these settlements were in order to enhance the safety of drilling for oil in the Gulf of Mexico. BP worked to solve the federal criminal claims that came from the Oil Spill‚ and eventually pleaded guilty of 11 felony counts‚ related to the loss of 11 lives. Many other misdemeanor counts under different acts including: the Clean
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handle the strategic‚ tactical and operational decisions for the organization. The four functions of management are: planning‚ organizing‚ influencing‚ and controlling. Planning: It is the basic function of management. It deals with chalking out a future course of action & deciding in advance the most appropriate course of actions for achievement of pre-determined goals. Planning is deciding in advance - what to do‚ when to do & how to do. It bridges the gap from where we are & where
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ORGANIZING THE ENTERPRISE Why do you go to business? Reasons: 1. Personal Satisfaction – they enjoy challenges and risk-taking ventures. Their business success gives them a sense of fulfillment. 2. Family involvement- they feel it is their responsibility to continue the business of their parents‚ especially if it is profitable. 3. Independence and power- they want to be the boss. 4. Social Activities- there are people who are really born socializers. 5. Profit experience- some
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The Transformation of BP Chapter 5-4 | Eric | Summer | Helen | Lidya | Mandy | Content • Introducing BP • Transforming BP • BP Superior performance through Knowledge Sharing • BP Building Cooperate Reputation Through facing the Public Responsibility • Conclusion and Future Consideration Introducing BP BP at a Glance BP is of one of the world’s largest energy companies‚ providing its customers with fuel for transportation
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was enjoying the future of its oil & gas exploration. Oh‚ how things have changed‚ after oil rig explosion and now an enormous oil spill‚ who knows all the world can do now is wait. The British Petroleum Company‚ Business Culture and Global Competition The discovery of petroleum oil and its origin began in the 1900’s‚ according to several sources. It’s no secret that oil is one of the most important discoveries and resources ever found by man. We use oil to produce everything from ink to
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disasters in Alaska and Texas. Specifically‚ BP ’s defensive approach towards stakeholder management led to lavish compensation for upper level management while creating hazardous working conditions for employees and a burden on all of society in the form of rising oil prices and environmental damage. Background British Petroleum was founded in 1908 and since then has rapidly grown to become the eighth largest company in the world . However‚ as of late‚ BP has come under fire for several high profile
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Ecological Effect of the BP Oil Spill on the Environment Introduction: The BP oil spill‚ (also known as the Deepwater Horizon oil spill the BP oil disaster‚ the Gulf of Mexico oil spill‚ and the Macondo blowout) was an oil spill that happened in the Gulf of Mexico on the BP owned and operated Macondo Prospect on April 20‚ 2010. This oil spill is considered the largest and most devastating oil spill in the history of the petroleum industry. The cause of this oil spill according to “the
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