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Planning, Directing, and Controlling
A clever sign hanging on the wall of a business establishment: "The Managers are paid to manage the work-- If There Were No Problems we wouldn't require Managers." This suggested that all organizations have problems, and it is management's responsibility to deal with those problems. While there is some truth to this characterization, it is possibly more reflective of a "not so impressive" organization that is moving from one crisis to another. The True managerial talent goes beyond just dealing with the problems at hand.
What exactly the term managing means? Managing requires number of skill sets. Among those skills are leadership, vision, and the ability to procure and mobilize financial and the human resources. All of these tasks should be executed with an understanding of how actions influence the human behaviour within, and external to, organization. In addition, good managers must have endurance to tolerate challenges and setbacks while trying to forge ahead. To effectively manage an operation also requires follow through and execution. But, each management action is predicated upon some particular decision. Thus, good decision making is critical to being a successful manager.
INVENTORY CONTROL The activities of a business during a financial year combine investment projects in progress with new projects commencing and others terminate within the year
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Incremental budgeting Incremental budgeting uses a budget prepared using a last period budget or actual performance as a base with incremental amount asses for the new budget p
Explain Profitability ratios in relation to sales a) Gross profit ratio b) Net profit ratio c) Operating ratio d) Operating profit ratio e) Expenses ratio
Select the cost driver(s): This might also be termed to as independent, explanatory or predictor variable. A cost driver can be stated as any factor whose change causes a chang
The following information pertains to Fairways Driving Range, Inc.: The company is considering operating a new driving range facility in Sanford, FL. In order to do so, they will
LIMITATIONS OF ABC ANALYSIS However ABC analysis is a basic tool for exercising selective control over many inventory items, it does not, in its current form, allow precise con
M/s ABC is seeing relaxing its collection efforts. At current its sales are as Rs.40 lakhs, the ACP is here 20 days and variable cost to sales ratio is .8 and bad debts are as .05
Echeverria SA is an Argentinian manufacturing company whose total factory overhead costs fluctuate somewhat from year to year according to the number of machine-hours worked in its
1. A firm's independent auditors have the responsibility to: a. assess the firm's accounting policies. b. ascertain the firm's profit potential. c. uncover all fraudulent
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