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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Group 3 In your opinion are accounting standards necessary and to what extent? Do you agree with the view that mandatory regulations stifle innovation ? why? Give reasons? * Accounting standards are necessary to promote high quality financial reporting. The fundamental role of accounting is to communicate economic information about businesses and other organization to various stakeholders (government‚ investors‚ shareholders‚ suppliers‚ lenders‚ customers and the general public). * These
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Costs and Consequences: Sweated Labor and Consumer Bargains Introduction: In order to make a wide variety of goods available at ever-decreasing prices or to maintain profits‚ retailers rely on low labor costs and working conditions that are often illegal in the United States. Tasks: Based on the information in the "Student Voice" section of Chapter 2‚ pp. 18–20‚ of your textbook‚ would you stop shopping at certain retailers? Is the consumption of food and clothing somehow different from the
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amount of money spent on health sector of a single person is least in the entire world. e. Due to lack of political will and weak influential system health services are not able to reach the commoners at a reasonable cost. Hence‚ even the little amount which is being spent on health sector today is getting wasted. Dr. Kiran Majumdar Shaw. f. In order to get health related services a common man has to loosen up
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language skills • using science effectively and critically‚ and showing responsibility for the environment and the health of others • showing understanding of the world as a set of interconnected systems by acknowledging that problem solving contexts do not exist in isolation Developmental outcomes: • thinking about and investigating a variety of strategies for learning effectively • participating as responsible citizens in the life of the local‚ national and world societies • being culturally
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senior managers to have a sound knowledge of cost behaviour ie fixed costs‚ variable costs‚ semi-variable costs and sunk costs. Answer: Understanding cost behaviour helps manager in anticipation of changes in cost when there is a change in their activities like production‚ sales‚ inventory pile up etc. It provides good assistance in planning‚ cost management and decision making. A number of behaviour patterns exist ranging from fixed to variable and from linear to curvilinear. Many cost predictions
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Accounting Standards Produce Uniform Financial Reporting’ Inro Why is the question important? In an increasingly interconnected world‚ the operations of international corporations are transnational. In addition‚ more and more investing takes place on a global level. Historically‚ different countries have developed their own national accounting standards. Before the introduction of the IFRS‚ the accounting principles of neighbouring countries were similar in many respects but used different financial reporting
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We already know that following are the important cost concepts related to the production process of a firm: • Fixed Cost • Varibale Cost • Average Cost • Marginal Cost please refer to following page Introduction to Cost Concepts to understand various cost concepts in detail. Here we will briefly state again the meaning of above stated cost concepts for better understanding of the module on short run cost analysis. Fixed Cost is that cost which does not change (that is either goes up or
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Standardized Testing Should Not Be The Standard Standardized testing can be deemed as unfair and should not be solely be used to judge a student’s academic performance. Once quoted‚ “If my future were determined just by my performance on a standardized test‚ I wouldn’t be here. I guarantee you that” (Obama). Standardized testing has been the go-to way to test a student’s intellectual ability since before World War II. Most tests consist of several hours filled with tedious multiple choice questions
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Introduction The overall objective of this experiment is to determine the mass percent of NaClO‚ sodium chloride‚ in standard bleach. The purpose of part 1‚ is to standardize Sodium Thisulfate‚ Na2S2O3‚ with the primary standard Potassium Iodate‚ KIO3. The standardized Na2S2O3 will then be used in Part 2‚ to help determine the mass percentage of sodium chloride in bleach. The chemical equation used in standardizing sodium thisulfate is‚ IO3- (aq) + 5I- (aq) + 6H+(aq) ---> 3I2 + 3H2O followed
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