Chapter 01 What Is Organizational Behavior? True / False Questions 1. Strategic management focuses on the product choices and industry characteristics that affect an organization's profitability. True False 2. The theories and concepts found in OB are drawn from two disciplines: human resources management and strategic management.
Question B Discuss the advantages and disadvantages of Job Order Costing. Be sure to include specific examples of the advantages/disadvantages that you discuss. Week 3 Discussion Questions Question A What is the difference between operations costing and a process costing system? How does a company decide whether to use a job order or a process cost system? Question B How does the treatment of costs differ in ABC systems as opposed to traditional cost systems?
Costing the activity is normally an in-between step in the distribution of overhead costs to products, to acquire more precise product cost information. However, occasionally the activity itself is the cost object of interest. Like for example, manager of a company might desire to know how much the company spends to acquire their raw materials, as input in a sourcing judgment. The activity of acquiring the raw materials incurs costs associated with negotiating prices with suppliers, issuing purchase orders, receiving fabric, inspecting fabric, and processing payments and returns. The steps to product costing are: 1) Identify the cost;
| Project management | Project management is the organization of pace of a job and improvement of process. | Titman, S., Keown, A. J., & Martin, J. D. (2014). Financial Management, Principles and Applications (12 ed.). : Pearson EDU. | Outsourcing and offshoring | Outsourcing is the aspect of tasking a third party contractor.
Costing Model: There are two costing models that can be used to allocate costs: traditional costing and activity based costing. Both costing models allocate direct material costs, direct labor costs and manufacturing overhead costs to the products being manufactured. However, the difference between the two models involves how the manufacturing overhead costs are allocated. Traditional costing allocates overhead costs to the products manufactured on the either direct labor hours, number of units produced, or machine hours used in production. The traditional costing method lumps all overhead costs into a single pool and allocates those costs across all products produced based on one of the three cost drivers (direct labor hours, number of units produced, or machine hours).
What are the production scheduling principles discussed in The Goal? 4. Provide an explanation of the pitfalls, as discussed in The Goal, of using cost accounting data for manufacturing decision
Petrie’s Electronics Case Problem (page 41) 1. How do information systems projects get started in organizations? There are two ways, Top-down or bottom-up. In top-down systems the top management decides on a system to implement, replace or update a current system. The bottom-up way is just the opposite in that the systems are determined by the lower employees and are replaced or updated.
How can Price Discrimination be used by firms to enhance profitability? 11 4.5. Examples of Price Discrimination 13 5.0 Presentation and Analysis of Findings 14 6.0 Recommendations 16 7.0 Conclusion 17 Bibliography 18 EXECUTIVE SUMMARY This study was done as part of the requirements for the course GEMA6320, Managerial Economics, in the Executive Masters in Business Administration Programme at the Cave Hill School of Business. The objective of the study is to get a clearer understanding of the economic principles and theories that have been learnt in this course by analyzing price discrimination to determine whether
Activity based costing (ABC) on the other hand does not just rely on cost of materials for production or service but rather, also, on issues like overhead costs caused by certain activities, charges on overhead to outputs due to driving rates and the established overhead cost pools (Atrill & McLaney, pp 136-140). The drivers of the ABC to managers is involved in the various support activities involved in the production process of service or product ,the cost attributed to each support service and the factors that cause a change in the support activity. (Atrill & McLaney, pp.138) ABC can be applied in a manufacturing service sector like Atrill & McLaney (pp. 138, 2009) explained by establishing an overhead cost pool for each of the laborers activities. This will include the cost of running the factories like rent, heating and lighting, salaries and benefits of employees, cost of inventories, stores and the direct labour rate charged overhead
By definition technology is the course by which an organization entity changes its resources (inputs) into different products and services (outputs) (Bratton and Sawchuk, 2010). The technology processes occur on an individual, group, structural and managerial level and affectall types of organizational design (e.g. Mechanistic; Organic (Slocum andHellriegel, 2009)).One of the main issues concerningtechnologisation of work is the division of labour- this concept refers to the different ways that a task can be divided in order to maximise achievement of goals. The main drawback of such division is that employees performing basic and routine jobs which do not require many skills often become what is also known as ‘’boreout’’ (Rothlin and Werder, (2008), cited in Buchanan and Huczynski, 2010).