To understand the process of under and over applied overheads it is essential that the process for job-costing is understood. The basic flow of costs in a job-order system begins by recording the costs of material‚ labor‚ and manufacturing overhead. "The use of absorption costing to provide quotes for jobs takes account of both fixed and variable costs. (1) Material and direct labor costs are debited to the ’Work in Process’ inventory. Any indirect material or indirect labor costs are debited to
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The process of operations strategy – substitutes for strategy? (Week 9) Lecture aims This lecture is a little different from the other lectures in the book. It deals with a number of ‘new’ approaches to the management of operations that are often seen as operations strategies‚ but are not actually strategies in themselves. Six of the more important ‘new’ approaches are treated in this lecture‚ namely‚ Total Quality Management‚ lean operations‚ Business Process Reengineering‚ Enterprise Resource
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business services and serve as retail hubs for other FedEx units. (Hoover‚ n.d.) I will discuss the process strategies I think FedEx is using in its business operations as well as the location of the company’s headquarters and the benefits to being located there. In reviewing the four types of process strategies; it seems that FedEx uses a combination of all four strategies. Firstly‚ in looking at the Process Focus‚ since FedEx provides a variety of different services‚ their facilities seems to definitely
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Process and Location Strategy 1 Process and Location Strategy: Module 2 - SLP OPM300 Process and Location Strategy 2 In looking over the PowerPoint presentation about the four process strategies‚ I have a better understanding of the different strategies that companies use to run their businesses. Depending on the makeup of a business‚ a company wants to use the appropriate strategy process. If a company has low-volume and high-variety‚ a company would use the process focus strategy.
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decision that was publicly criticized by all of the Dollar Menu enthusiasts. The fast food company decided to remove that second extra slice of cheese from the infamous fan-favorite Double cheeseburger. They have also experimented in various markets what the reaction would be when they introduce the McDouble burger with only one slice of cheese versus the Double cheeseburger. This decision of theirs resulted in a staggering global reduction of costs calculated to be nearly $279 million for 2008
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Marketing Communications Strategy - Our Marketing Communication Strategy will be mainly focussing on advertising and personal selling in the marketing communications mix‚ with a television commercial for advertising and in store marketing for personal selling. - The television commercial will be a short introduction of our product with associations of the season‚ surrounded with the McDonald feelings and sounds which come always with their commercials. - The in store marketing consist
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Strategy formulation process The success of an organisation in an increasingly competitive environment is dependent on the strategy which will differentiate an organisation from its competitors. In this context it is useful to consider strategy formulation as part of a strategic management process that comprises three phases: diagnosis‚ formulation and implementation. Strategic management is an ongoing process to develop and revise in future oriented strategies that allow an organisation to achieve
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assignment is McDonalds. McDonald’s is the leading global foodservice outlet with more than 33‚500 local restaurants serving approximately 69 million people in 119 countries each day. More than 80% of McDonald’s restaurants worldwide are owned and operated by independent local men and women. http://www.aboutmcdonalds.com/mcd/investors/company_profile.html McDonalds has developed its operation to a very high level of efficiency over years it has been operation. One main reason is that McDonalds keeps innovating
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McDonald’s 1) What process strategy (from the four process strategies) is being applied at McDonald’s? The 4 process strategies are: Process focus Repetitive focus Product focus Mass customization The process strategy being applied at McDonalds is a REPETITIVE FOCUS‚ although some argue that they also implement mass customization too. With over 95 billion customers served‚ McDonalds was focused in repetition with its facilities often organized by assembly or production lines; characterized
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A strategy for a company lays out how a company is going to fulfill short term and long term goals that are hopefully promoting and furthering the company toward their vision. There are five key steps in order to create and execute a strategy successfully. The first step is to decide what the vision of the strategy is and how that will affect the multiple areas of the business including marketing and possibly the actual product. This will give the overall goal of the strategy and hopefully the ultimate
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