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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.
Private sector companies have multiple stakeholders who are likely to have divergent interests.( five stakeholder groups and discuss their financial and other objectives).
Advantages of standard costing 1) Measuring efficiency: standard costing is a yardstick for measuring efficiency. The comparison of actual costs with standard costs enables t
Suggestion system The suggestion system is as integral part of an established management system that aims at involving employees in kaizen. The number of worker s suggestion i
Managerial Accounting Before going to Managerial Accounting let us discuss a bit about Financial Accounting. Financial accounting is concerned with reporting to the external pa
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Features of a queue A calling population – refers to the number of potential customers. This number may be considered finite or infinite. An infinite calling population is
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Discuss the different roles played by the qualitative and quantitative approaches to managerial decision making
solutions for (POS) slow printing of sales tickets and unpredictable action of cash drawers. when credit approvals delayed the checkout process or when the computer was down, thus
POINT ESTIMATE OF PROBABILITIES This approach requires a number of different values for each of the uncertain variables to be selected. These might be values that are reasonabl
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