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Describe Benchmarking
It is the process of measuring products service or activities against the best level of performance which may be found either inside or outside the organizations. Developed organizations use combination of financial and non-financial bench marks rather than relying exclusively on other type. Upcoming companies use bench marking to adopt world class performance targets. Performance gaps are properly scrutinized and then concerted efforts are made to improve to achieve world class operations.
Bench making involves following important steps:
1. Selection of bench mark site,
2. Define bench mark question,
3. Gather information about bench mark, and
4. Determine and interpret performance gap.
State Budgetary Control A budget is a quantitative expression of a plan of action relating to the forthcoming budget period. It represents a written operational plan of managem
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tell me how go about charging for your services
what is semi average trend analysis using regression analysis method?
Implementation of ABC analysis The following steps are included in implementing the ABC analysis: 1. Categorize the items of inventories, establishing the expected use in un
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relevance to business owners, employees and public?
x+2y+3z=6 2x+4y+z=7 3x+2y+9z=14
Independence of observations An important assumption for the simple linear regression model is the independence of errors. In many time series models, this assumption is violat
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