waste‚ desertification and chemicals pollution. ENVIRONMENTAL REGULATIONS: Since environment regulation tends to be weak in developing countries some of these countries have begun to specialize in pollution intensive manufacturing‚ particularly in products which have good export
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The Quality Gurus The six Quality Gurus I have chosen to write about are Dr. Joseph Juran‚ Dr. W. Edwards Deming‚ Philip Crosby‚ Dr. Shigeo Shingo‚ Dr. Genichi Taguchi and Dr. Kaora Ishikawa. All of these people have made significant contributions to improving businesses‚ healthcare organizations‚ governments and countless other organizations. A guru is a good‚ wise person and a teacher above all else. This is coupled with these people with an approach to quality in business and life that has made
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I 1.Why is quality is a difficult term to define? How can we improve our understanding of quality? Quality itself has been defined as fundamentally relational: ’Quality is the ongoing process of building and sustaining relationships by assessing‚ anticipating‚ and fulfilling stated and implied needs. Even those quality definitions which are not expressly relational have an implicit relational character. Zero defects and conformance to requirements or their modern counterpart‚ six
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source same End result ! ends with financial statements ! integral part of other business aspects B. Cost Accounting Terminology 1. Nature of Cost Cost - A sacrifice of resources: Cost is a measurement in monetary terms of the amount of resources used for some purpose. Expense - The cost charged against revenue in a particular accounting period. 2. Purposes of Gathering Cost Information Routine decision making:
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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. The firm sells its products at either average
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Chapter 1 Basic Cost Concepts Learning Objectives • To understand the meaning of different costing terms to understand different costing methods • To have a basic idea of different costing techniques • To understand the meaning of cost sheet In order to determine and take a dispassionate view about what lies beneath the surface of accounting figures‚ a financial analyst has to make use of different management accounting techniques. Cost techniques have a precedence over the other
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lub Background Cost Club is a growing retailer‚ similar to Super Wal-Mart or Target. It provides discount merchandise and supermarket products in large stores located in many areas of the United States. Cost Club is administratively organized into regions‚ and each region is permitted to develop its own operational policies‚ as long as the bottom line of low cost and reasonable service to customers is maintained. There are many strong competitors to Cost Club‚ with some regions experiencing more
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A product is anything that meets the requirements of a particular market‚ this term involves a lot of dimensions because it is essential to recognize what contributes to the “total product offer”1 in order to be successful in the market or simple to keep our customers satisfy. A service is an intangible economic activity‚ not stored and does not result in ownership; Services nowadays are becoming more important and growing faster and consumers are more apprehensive with performance and satisfaction
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COST ANALYSIS OBJECTIVES INTRODUCTION MEANING DEFINITIONS TYPES OF COSTS MONETARY COSTS REAL COSTS OPPORTUNITY COSTS ECONOMIC COSTS ACCOUNTING COSTS INCREMENTAL COSTS SUNK COSTS FUTURE COSTS PRIVATE‚ EXTERNAL AND SOCIAL COSTS FIXED / SUPPLEMENTARY / OVERHEAD COSTS VARIABLE / PRIME COSTS REPLACEMENT COSTS PRODUCTION COSTS SELLING COSTS CONTROLLABLE COSTS DIRECT COSTS INDIRECT COSTS SHORT RUN COSTS CURVES LONG RUN COSTS CURVES OBJECTIVES To understand the meaning of cost. To discuss different types
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REQUIREMENT NO.1 Table of Contents I. Introduction & Definition of terms -------------------------------- 1 II. Difference between the following: a) Product & Service --------------------------------------------- 4 b) Manufacturing of Products & Rendering of Service ------ 4 c) Quality Base & Time Base Strategies -----------------------5 III. Forms of Production Process ----------------------------------------6 IV. Classification of Production System --------------------------------7
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