Discuss the characteristics of an organization for which a true cost management system would be appropriate
The organization for which a true CMS would be appropriate would have specified strategic goals to which its operating position is linked. Its technology, human behavior, and information systems would be integrated as would its managerial and operating systems. The organization would engage in intergroup coordination and coordinated management through employee empowerment. A focus would be on cost elimination rather than cost allocation-thus implying an activity-based management approach. Performance evaluation would rely on both financial and nonfinancial measurements. Finally, the company would utilize changing technologies and embrace customer values and customer satisfaction as part of organizational culture. This organization would be confronting high-quality worldwide competition.
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In the Lesher v. Strid case, the court held that:
a. a representation is material if it is likely to influence a reasonable person. b. for a misrepresentation to be actionable, it must be one of fact rather than of opinion. c. a mutual mistake of fact renders a contract voidable by the adversely affected party if the mistake is so fundamental that it frustrates the purpose of the contract. d. the contract's "as is" clause expressly excluded reliance on extrinsic representations such as the defendant's representation about the four-acre water rights.
Cycle time is the maximum time that the product is allowed at each workstation
Indicate whether the statement is true or false
Straitway Company encourages its managers to behave ethically, reasoning that the employees will take their cues from management. One of the most important ways to create and maintain an ethical behavior workplace is for management to
A. demonstrate a commitment to ethical decision making. B. discreetly engage in unethical or illegal acts. C. look the other way when an employee engages in an unethical act. D. direct employees to "do as we say, not as we do."
The goal of sales promotion (regardless of what form it takes) is usually:
A. immediate purchase B. return on investment C. cost control D. market share leadership E. economies of scale