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Incremental budgeting
Incremental budgeting uses a budget prepared using a last period budget or actual performance as a base with incremental amount asses for the new budget period. The allocation of resources is account changing circumstances. Furthermore, it encourages spending up to the budget to make sure a reasonable allocation in the next period. It leads to a spend it or lose it mentality.
Cost Advantage and Value Chain Cost advantage is one of the two types of competitive advantage a firm may possess. Cost is also of vital significance to differentiation strate
Bank guarantee is one of the facilities which the commercial banks extend in support of their clients in favour of third parties who will be the beneficiaries of the guarantees. In
What does it mean when we say consistency is the central feature of economic rationality?
The production department has been investigating possible ways to trim total production costs. One possibility currently being examined is to make the paint cans instead of purchas
How to write introduction on strategy plan
Hickory Company manufactures two products—14,000 units of Product Y and 6,000 units of Product Z. The company uses a plantwide overhead rate based on direct labor-hours. It is cons
Use of Computer Systems in Linear Programming When a computer is to be used for linear programming there are a number of steps: (1) Development of the equations which descri
MAKE OR BUY DECISIONS UNDER LIMITING FACTORS One reason for buying products/services from another organisation is the scarcity of resources, so that the company may be unable t
Suggestion system The suggestion system is as integral part of an established management system that aims at involving employees in kaizen. The number of worker s suggestion i
Advantages and Limitations of Dynamic Programming Advantages: (1) In certain types of problems such as inventory control management, Chemical Engineering design, dynamic
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