The traditional approach of financial management was all about profit maximization.The main objective of companies was to make profits. The traditional approach of financial management had many limitations: 1.Business may have several other objectives other than profit maximization.Companies may have goals like: a larger market share‚ high sales‚greater stability and so on.The traditional approach did not take into account so many of these other aspects. 2.Profit Maximization has to defined after
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In traditional approach‚ the exact cost of products or services is probably impossible to determine. The use of direct labor as the activity base made sense when overhead cost allocation systems were first developed. At that time direct labor made up a large portion of total manufacturing cost. Therefore‚ it was widely accepted that there was a high correlation between direct labor and the incurrence of overhead cost. As a result‚ direct labor became the most popular basis for allocating overhead
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Management Approach ------------------------------------------------- PERFORMANCE Overview and Strategy PepsiCo has the world’s largest portfolio of billion-dollar food and beverage brands‚ including 22 different brands that each generate more than $1 billion in annual retail sales. As well as our core brands—Pepsi-Cola‚ Lay’s‚ Quaker Oats‚ Tropicana and Gatorade—we make hundreds of other nutritious and delicious‚ convenient and fun foods and drinks that bring joy to our consumers in more than
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Traditional Activism‚ the Right Approach Imagine the President of the United States creating a ban on something everyone enjoys like cookies. You may feel outraged and have two choices. On one hand you may find a page online and “like” the page or “follow” it for support. If you choose this route‚ the President may see the page and overlook it seeing no threat. On the other hand you could organize a group to protest outside of the White House to get the ban lifted. In this case the President may
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Behaviour approach to treating mental health disorders seek to identify and help change potentially self-destructive or unhealthy behaviours. Its focus is the idea that‚ all behaviours are learned and those unhealthy behaviours can be changed. It primarily focuses of treatment is often on current problems and how to change them (Healthline.com‚ 2016). Advantages of behaviour approach include: The approach deals with basic ideas that are clear to understand. It makes the approach easy to practice
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Define traditional budgeting Traditional budget is a type of budget which uses the income and expenses from the previous year or month to predict the next month or year ’s budget. A traditional budget is easy to create since it is meant to predict a future period of finances in relation to the previous period. In most cases though‚ the traditional budget usually ends up being too rigid. http://blog.trginternational.com/trg-in-the-board-room/bid/162036/Traditional-budgeting-approach-advantages-and-disadvantages
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Chapter 1 Management control: an overview Introduction T his first chapter introduces management control‚ providing an overview of its fundamental objectives‚ components‚ concepts and tools. Its aim is to elucidate the general anatomy of this management approach so that the reader will be able to understand the links between the various topics that are dealt with in subsequent chapters of the book. Management control will be defined progressively. In the first section we will deliberately
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Advantages of the Database Approach * == Data Independence == * The data is held in such a way that changes to the structure of the database do not effect any of the programs used to access the data. * == Consistency of Data == * Each item of data is held only once therefore no danger of item being updated on one system and not on another. * == Control Over Redundancy == * In a non-database system‚ the same information may be held on several files. This wastes space
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In my opinion‚ the second approach – the philosophy-laden approach – is better‚ as it aims to create a positive work environment that yields employee satisfaction. The company takes into consideration environmental factors (location and demographics of the company)‚ substantive or practical policies and company characteristics. All of these factors lead to a particular culture of trust and cooperation which result in several positive outcomes‚ including a reluctance to join unions‚ avoidance of
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Abstract African traditional medication is an indigenous form of medication‚ being indigenous means that it is belonging to a particular place rather than coming to it from somewhere else. There are ongoing critics about indigenous medication due to the fact that it is not written in black and white (paper) and is conducted by illiterate individuals. However‚ this indigenous medication has healed the people of this continent from the rise of time before the arrival of the white man into the continent
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