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7 feed from control to planning
It is realized these days more than even before that management control is primarily a human activity which should focus on how to help individuals do their jobs better. Feedback from to control to planning is a very fundamental and leads to a variety Reponses detailed below:
1. Changing of goals based on evaluation of goal.
2. Searching alternative measures of operating to save cost and survive in competition.
3. making predictions based on latest feedback.
4. Changing the operating process to avoid the weak links which reduces cumulative value to the customers.
5. Changing the reward system to revitalize working system.
6. Rest performances are systematically analyzed to explore alternative ways to improve future performance.
Archie Ltd manufactures a product called Gizmo. It uses the following direct inputs: Price Quantity Cost per unit of output Direct materials $4 per gram 10 grams per unit $40 per
differentiate between multiple product, selling product and margin managent
What are the Disadvantages of budgetary control 1) Uncertain future: the budgets are prepared for the future period. Despite best estimates made for the predictions may not
What is Costco''s Financial decisions, Centralized or decentralized?
Return on Investment and Residual Income This is a traditional approach to performance measurement given by: ROI = Income Invested Capital (m
what is management
SK 2 Chapter 10: Master budgeting Objective How organisations strive to achieve their financial goals by preparing a number of budgets that together form an integrated business pla
Selling product for 31.00 and Variable expenses are 26.00. In order to cover the fixed expenses 31,500 hats must be sold what is the Total fixed cost in dollars?
Marketing refers to the promotion of products, especially advertising and branding. But marketing includes product management, pricing, prom
CONTIGENCY THEORY Some researchers have argued that the context in which budgetary control is used is as important as the style in which it is implemented and used. This is ter
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