What is organisational culture and how can it be managed effectively? Organisational culture is defined as the shared values‚ norms and expectations that govern the way people approach their work and interact with each other. Organizational culture is different from world cultures‚ those tapestries of shared histories‚ languages‚ beliefs‚ and foods‚ which are the source of our identity. Our personal culture affects how we marry‚ how we raise our children‚ how we celebrate events‚ and how we mourn
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Chapter 4: Costs and Cost Minimization Multiple Choice 1. Suppose you are a star basketball player at a major university in your sophomore year. You are sought after by several NBA teams. Which of the following choices best characterizes your opportunity cost if you choose to drop out of college and enter the NBA? a) The value of your college scholarship that you have given up. b) The skills that two more years of playing at your college would have given you along with their additional value
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following data have been recorded for recently completed Job 501 on its job cost sheet. Direct materials cost was $3‚067. A total of 30 direct labor-hours and 104 machine-hours were worked on the job. The direct labor wage rate is $12 per labor-hour. The company applies manufacturing overhead on the basis of machinehours. The predetermined overhead rate is $11 per machine-hour. The total cost for the job on its job cost sheet would be: A. $4‚571 B. $3‚757 C. $3‚090 D. $3‚427 Applied manufacturing
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-What strategic responses are potentially available to a firm facing competition from manufacturers enjoying a substantial labor cost advantage? Changing a new cost system‚ focusing on customer needs. What issues are relevant in considering moving a manufacturing plant to a low wage location? Direct labor is an important factor‚ which is more relevant on manufacture of a product.
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1. Indirect labor is a part of: B. Conversion cost. Labor that cannot be physically traced to particular product is treated as indirect labor and as manufacturing overhead. Conversion cost is the sum of direct labor and manufacturing overhead. These costs are incurred to convert materials into the finished product. Indirect labor is treated as part of manufacturing overhead. 2. Prime cost and conversion cost share what common element of total cost? B. Direct labor. Prime cost is the sum of
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CONTROLLING LABOR COST The timekeeping and payroll departments have the responsibility of maintaining labor records. The timekeeping and payroll functions may be established as separate departments or organized as subdivisions of a single department. Increasingly‚ automated timekeeping technology has replaced ‘‘timekeeping’’ as a separate department. For example‚ many companies issue magnetic cards to direct laborers who use them to ‘‘log on’’ and ‘‘log off’’ to specific job assignments. They
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1. What is the competitive environment of ETO? ETO‚ Electronic Testing Operations‚ provides centralized testing for electronic components such as integrated circuits. Because low-technology outside laboratories were often cheaper‚ expecially on larger lots‚ due to no engineering part‚ ETO has to shift from simple inspection services to more technically sophisticated services. 2. Describe the existing cost system and calculate the cost of the 5 components in the case. What is wrong with the
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recognizable when visibly observed but does not reflect the organizational culture. The second level is in the exposed values or beliefs that employees express in organization which includes the mission statement‚ customer service and loyalty. This behavior can be studied by using surveys and discussion to gather attitudes of the organizations’ members. The third level is the basic assumption which is the most important level as it shapes the organization’s view and decision making. The norms or the unspoken
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To what extent can volcanic hazards be managed effectively? Volcanic hazards can be detrimental to the lives of the people who live near the active zone of the volcano in question due to their immense power coming from the centre of the earth however with effective management of the risks the number of deaths‚ disrupted lives and the economic damage can be reduced greatly. An example I will use of a recent volcano that erupted was Mt St Helens which is an active supervolcano located in Washington
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Controlling Labor Costs and Outsourcing Pharis Jackson III‚ Becky Miller‚ Justine Santos‚ Cassandra Sullivan HRM/324 February 9‚ 2015 Callie Burnley Controlling Labor Costs and Outsourcing "Managing the number of employees and/or the hours worked is the most obvious and perhaps most common approach to managing labor expenses in the United States" (Milkovich‚ Newman‚ & Milkovich‚ 2008‚ p. 583). There are many ways that employers can control labor costs. This team paper will detail the different
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