Why wealth creation is a longer-term concept
Write a short note on why wealth creation is a longer-term concept?
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At mainly relates not just to this year’s gain however to that of future years also. In short term, corners can be cut and risks taken which enhance present gain at the expense of future gain.
Cost Reduction: The procedure of looking for, finding and eliminating unwarranted expenses from the business to raise gains without containing a negative impact on the product quality. Most of the business managers will engage in periodic cost reducti
The process of testing a new software program using actual data and comparing the results to the alternative soft wares. The alternative can be new software or the organization's existing system. The test should be examined the software's accuracy and efficiency.
Value-Added Activity: An activity which is judged to contribute to customer value or gratify an organizational requirement. The characteristic "value-added" reflects a belief that the activity can’t be removed without decreasing
Write a short note on Not-for-profit organizations?
Estimated Cost: The procedure of projecting a future outcome in terms of cost, based on information accessible at the time. The estimated costs, instead of actual costs, are at times the basis for credits to work-in-process accounts a
Avoidable Cost: The cost related with an activity which would not be acquired if the activity were not executed.
Write a short note on selecting strategic options and formulating the plans?
Identify and evaluate the strategic options in brief?
Activity: The real work task or step executed in generating and delivering products and services. The aggregation of actions executed within an organization which is helpful for the purpose of activity-based costing.
Partnership deed: Partnership deed is a written agreement including the terms and conditions agreed by all the Partners.
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