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Administration controls are performance measurement systems e.g. Management accounting 'exceptionreporting' systems which compare actual performance to a predetermined target, goal, standard etc. Illustrations include strategic control tools like gap analysis, budgetary controlsystems e.g. variance analysis or staff appraisal systems to monitor the performance of staff. Each organisation needs a plan and with measurable objectives to attain it. Control is essential to make sure what is intended actually comes to be. The aim of a good control system is to ensure that the right things get done, so there has to be some kind of plan, standard, budget, rule book or any other target to adhere to. Control is dependent on the receipt and processing of information in the first place to determine what measures are needed, then further information (or feedback) about actual performance to ensure targets or deliverables are met.
Division X has a target return on investment (ROI) of 12%. It has fixed costs of £400,000 and a variable cost per unit of £5. The net assets of the division forecast for the next
We know from a great deal of research that when asked to assign probabilities to uncertain states of nature most people give answers that are over-confident when calibrated against
Strategic Cost Management It is a management philosophy pioneered by John Shank, in that decisions concerning specific cost drivers are made within the context of a company bu
Question: (a) The Bath-Tub curve is an important tool for understanding the reliability of engineering components in many different applications. It is viewed as a hazard funct
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Describe the structure and role of the Technical Reference Model (TRM) in the The Open Group Architecture Framework (TOGAF). What is the purpose of this component?
Define Managerial Process of Crafting & Executing Strategy the managerial ins & outs of crafting & executing company strategies. Special thought is given to management's direc
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