...selling job in a variety of product lines * Improve market share * Reduce selling expense to sales ratios * Develop new accounts or territories * Introduce new products. Although it is probably neither desirable nor necessary to include all such objectives as specific measures of performance in the plan. They should be kept in mind at least to the extent that the performance measures chosen for the plan are compatible with an do not work against the overall accomplishment of the component’s business objectives. B. J Also, the relative current importance or ranking of these objectives will provide guidance in selecting the number and type of performance measures to be included in the plan. A plan that is difficult to understand will lose a great deal of its motivation force, as well as be costly to administer properly. For those who currently have a variable sales compensation plan(s) for their salespeople, a good starting point would be to consider the measures used in those plans. Although the measurements used for sales managers need not be identical, they should at least be compatible with those used to determine their salespeople’s commissions. However, keep in mind that a performance measure that may not be...
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...1. What is the likely location of the Bearington Plant? What is your first impression about the work environment at the Bearington Plant? Do you perceive that the environment at the Bearington plant is like most manufacturing operations in companies? Explain. ①．Bearington Plant sits in a field, a big gray steel box without windows. Before the plant, and on the opposite side of the highway, there is a gravel road leading up a low hillside. It’s an access road to a substation about half a mile way. In addition, on the way to Bearington Plant each day, the author needs to pass another plant along the road, in front of which there is a paved parking lot—five acres of concrete with tufts of brown grass poking through the cracks. 2．Yes. Like Bearington Plant, most of manufacturing operations have a large number of machinery and equipment, and there will be one or more production managers leading their daily job. Simply the trucks bring the materials which the machines and people inside will use to make something. On the opposite side, more trucks are being filled with what they have produced. Sometimes product delivery could be delayed, and the plant is losing money. The division vice-president has to get managers together to discuss the problems from reports, and gives the order that the problem will be fixed in specific time. Then, the production manager and the staff need to follow the order and even do the overtime working to solve the problem. During problem solving the conflicts...
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...Ideas page 18 Precision and Accuracy in Measurements A Tale of Four Cylinders Assessment of Errors and Uncertainties in IB Lab Reports Explaining Terms and Concepts in Error Analysis page 19 - 20 page 21 Mathematics of Evaluating Accuracy and Precision page 26 - 27 Rejection of Data page 28 More Examples of Propagating Error page 29 - 31 page 22 - 25 Typical Instrumental Uncertainties page 32 Checklist for Writing IB Lab Reports page 33 - 34 Please read carefully and keep this handy reference for future use in writing exemplary lab reports. Page 1 IB Guide to Writing Laboratory Reports Explanations, Clarifications, and Handy Hints The nature of science is to investigate the world around you. An inquiring mind is essential to science. Experiments are designed by curious minds to gain insight into wonder-producing phenomena. Hopefully, this process of designing experiments, doing experiments, thinking about experimental results, and writing lab reports will tremendously benefit YOU! IB Chemistry is the challenge you have chosen. Congratulations! IB learners strive to be: Inquirers Knowledgeable Thinkers Communicators Principled Open-minded Caring Risk-takers Balanced Reflective * the IB learner profile This process will challenge your thinking skills more than you can imagine. We need to emphasize again and again; all of this work is about YOU...
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...population as a unitary whole. We might start off with a sampling frame which has a list of the whole population—or as much information as we can obtain. Next we would number the elements in the sampling frame sequentially and select elements from the list randomly. We would not know what the outcome would be, but each has an equal shot at being chosen. We can also program the computer to choose a random sample. Researchers may also use non probability sampling. In this type of sampling the researcher does not know the probability of each population’s elements inclusion in the sample (Dejong, 2011). Data Collection There are many different ways to collect data for research. Measures differ from one another in terms called levels of measurement. Nominal measures classify observations into mutually exclusive and exhaustive categories. They represent nominal variables such as sex, ethnicity, religion, and political party preferences. For the purpose of data collection a number might be assigned to each category. Ordinal measures are at a higher value then nominal numbers because categories have a fixed order. Interval measures share the characteristics of ordinal scales, mutually exclusive and exhaustive categories and an inherit order, but have equal spacing between the categories....
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... Allstate provides their employees with a road map to succeed by executing the goal setting definitions. The employees were given tools and resources to become better. They have quarterly leadership measurements as well as the survey to get feedback from employees. Allstate focus on diversity, they see diversity as a strategy for leveraging differences in order to create a competitive advantage thus create four steps process to reach their effective goals. The first step which is the succession programming explains how Allstate identified and developed candidates for each key position. Allstate’s management information system enables it to track and measure key drivers of career development and career opportunities for all of its employees, ensuring that the company’s future workforce will be diverse at all levels. The goal of which came to manifestation; women were empowered, minorities grew above national averages, Hispanics, and people with diverse cultures now have positions in the company. The second step is development. Through the company’s employee development process, all employees receive an assessment of their current job skills and a road map for developing the critical skills necessary for advancement. The third step which is measurement allows the company to take a survey called the Diversity Index twice a year. An...
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...Schawlow’s Ruler Every color on the visible light spectrum has a distinct wavelength. These wavelengths can be measured by using the diffraction pattern of the light. In this experiment we used a HeNe laser and a green laser pointer with known wavelengths of 632.8x10-9m and 532.0x10-9m respectively. We aimed the lasers at a slight angle from horizontal onto a precision steel ruler with 0.5x10-3m and 1.0x10-3m rulings. When the laser is incident on the rulings, it reflects onto a surface showing the diffraction pattern. After measuring the spacing between each bright spot, we calculated the wavelength for each ruling used for the HeNe laser and for the green laser pointer. The measured wavelength for the HeNe laser at 0.5x10-3m rulings is (632.6±1.3)x10-9m and 1.0x10-3m rulings is (632.6±1.4)x10-9m. For the green laser point the measured wavelength is (632.6±1.4)x10-9m. I. Introduction Every color of light has a diffraction pattern specific to its wavelength. In this experiment we used a ruler to determine the wavelength (λ) of a HeNe laser. The HeNe laser has a known wavelength of 632.8x10-9m. We also measured the wavelength of a green laser pointer with a known wavelength of 532.9x10-9m. This experiment was first done by A. L. Schawlow in 1965 at Stanford University.1 II. Setup and Procedure We used a steel precision ruler with two different spacing’s between the rulings: d=0.5x10-3m and d=1.0x10-3m. We aimed the HeNe laser at a shallow angle (measured...
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...Chapter Seven Answer 1. Describe the four type of scale? • Nominal scale , categorize the variable only in the way to measure differences • Ordinal scale , categorized and rank-order variables in some meaningful way • Interval Scale , categorized and rank-order variables in some meaningful way and measure the distance between any two points on the scale • Ration scale , categorized and rank-order variables and measure the distance between points and also taps the proportions in differences 2. How is the interval scale more sophisticated that the nominal scale and ordinal scale? As the interval scale not only group individual according to certain category and taps the orders of this category it’s also measure the magnitude of differences in preferences among the individuals , and measure of center tendency the arithmetic mean and dispersion and stander deviations 3. What is the ratio scale consider to be the most powerful of the four scale? As ratio scale not only magnitude of the differences but also their proportional, ratio scale provide more precision in quantifying data and greater flexibility in using powerful more powerful statistical test 4. Briefly describe the differences between attitude rating scales and rank rating scale and indicate when the two are used? • Rating scale have several response category, use when we need to elicit responses with regard to the object or event or person • Ranking Scale make comparison between objects, events...
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...PRINCIPLES OF PERFORMANCE MANAGEMENT Do a Performance Improvement Analysis Measure the frequency of behavior (what the individual says or the physical movements made) and the outputs (the physical evidence of completed work produced by those behaviors) prior to any management change. This analysis can be done for just one behavior and output or for many by job category, department and organization. Through this analysis, one measures present performance, establishes standards, specifies why behavior is deficient, calculates the net economic value of improvement after the cost of solutions, and places them in priority order. The result of this analysis is identification of potentially high-payoff behaviors and outputs that can be improved - an important first step, because, surprisingly, key behaviors and outputs are often overlooked or undervalued in organizations. Introduce the procedures used in Performance Management and quantify the amount of change that occurs in specific time periods. Because the investment in changing behavior is often very low and the economic payoffs may be high, the potential high return on investment usually excites top management Be specific Describe and communicate desired performances and the standards for judging them in terms that are measurable, observable and objective. A description of the events that are signals prompting the response should be included. In training, coaching, measuring performance, feeding back performance data...
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...Armco Inc. Armco Inc is a steel manufacturer that used to be the sixth largest in its industry in United States in 1990. The Kansas City Works within its Midwestern Steel Division was hit by the decline in the business in the US steel industry. The firm produces grinding media and carbon wire rod. The first on has been successful in the industry with its great durability compared to the competitors. Carbon wire rods on the other hand were non profitable and covered only some of its fixed costs through its production volume. The old performance measurement system used by Armco Inc did not work properly because it had some problems. First, it did not provide information on the product mix being produced while it provided data on total tonnage produced but didn’t breakdown what was produced. Second the measurement system compared actual to objective but didn’t provide data on what factors exactly caused variance. Third, the costs were not broken down by fixed costs, variable costs and relevant range. Also the reports were generated on the 15th day following every month ending so I think managers could not take immediate corrective actions which would have been sometimes very necessary. In my opinion, also the fact that the system did not measure Key Performance Index for each department such as the new system, is one important reason why the old system was inadequate. there was inconsistency with organization’s current strategy. The objective of Armco Inc. is maximizing profits...
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...implementing a new performance measurement system in January 1991. Bob Nenni, Director of Finance for the Midwestern Steel Division, explained the rationale for this new system: The old system had managers spending more time explaining why changes in cost were due to accounting system problems than they did fixing the problems. The new system will provide for management better management focus on the things that are most important for managers to worry about, earlier warning of problems, and improved commitment to achieve objectives. 1.2 Background on Armco, Inc.: Midwestern Steel Division Armco Inc. is a producer of steel products. Within the Armco Inc. Midwestern Steel Division, the Kansas City Works was the largest entity, accounting for approximately $250 million in sales. However, business at Kansas City Works had declined significantly in the last decade. The Kansas City Works produced two primary products: grinding media and carbon wire rod. Armco was recognized as the leading supplier of grinding media products in the United States. Carbon wire rods, on the other hand, were made by Armco’s rod mill, which used relatively old technology and was not cost competitive, so rods were not a profitable product. But the rods did generate volume and helped cover some of the fixed costs of the plant. The Kansas City Works was not a low-cost manufacturer, with its union labour costs higher than some of its nonunion competitors. Also, the Works had an inefficient plant...
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...HALF FULL OR HALF EMPTY As with many of his audit staff counterparts across the country, Bill Turner spent the last day of the year performing inventory observation procedures. His assignment that December 31 included taking test measurements at a client’s grain elevator in a small prairie community. Bill had measured grain inventories on two previous audits and was the in-charge accountant on this audit. Bill’s observations of the quantity of grain in the elevator fell ten percent below the client’s records. Bill’s attention was drawn to the discrepancy in the two measurements of what was in the elevator because, in his judgment, such a gap was significant enough to be material. The resulting difference between the inventory as reported by the client and the audited amount was enough to cause a significant drop in net income. Bill documented his findings in the working papers and proposed an adjusting entry for the difference. Upon delving further into the matter, Bill determined that a discrepancy in the grain inventory had also surfaced two months previously. The quantity of grain, as reported by a government inspector at that time was also lower than that on the client’s records. The difference in the inventory valuation, however, was not as great as that in Bill’s tests. Still, no adjustment to the client’s records was made. This information was also documented in the working papers. Prior to discussing the discrepancy with the client, Bill told Greg, the...
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...uncertainties associated with them. The purpose of error analysis is to determine how such uncertainties influence the interpretation of the experimental results 1. Systematic Error - Results from consistent bias in observation (ie. Instrument-calibration error, natural errors or personal error). - Can be eliminated by pre-calibrating against a known, trusted standard. - Affects accuracy 2. Random Errors - Results from fluctuations in the readings of a measurement apparatus, experimenter's interpretation of the instrumental reading or randomly changing conditions (weather, humidity, etc.). - Can be reduced by averaging multiple measurements. - Unbiased - Affects precision Uncertainties in Measuring Devices General rule of thumb used to determine the uncertainty in a single measurement when using a scale or digital measuring device. 1. Uncertainty in a Scale Measuring Device is equal to the smallest increment divided by 2. 2. Uncertainty in a Digital Measuring Device is equal to the smallest increment. In general, any measurement can be stated in the following preferred form: The measured value is just an estimate and thus it cannot be more precise than the uncertainty of the device. (i.e. The number of decimal places for the measured value must match the number of decimal places for the uncertainty, and in multiples of the uncertainty)” Example: The smallest increment in a meter rule (scale measuring device) is 0.1 cm. Following the general rule of thumb to determine the...
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...July 25, 1999 Chapter 2: Normative Accounting Theory The purpose of this chapter is to identify those characteristics of accounting information that are thought to make one system of accounting better than another. Since the material is based on eighty years of accounting research, by countless researchers, it is clearly neither possible nor desirable to review all the arguments, or even the main arguments, used by advocates of all the different competing accounting systems. For instance, it would be difficult to improve on Henderson and Peirson's [1983] 268-page thorough, balanced, well-documented portrayal of the evolutionary development of accounting thought from the "pre-theory period" (1494-1800), through the "general scientific theory period" (1800-1955), and the "general normative theory period" (1956-1970), to the "scientific theory period" (post-1970). The approach adopted for this chapter is therefore to aim for a concise summary of the products of normative accounting theory. The objective is to search for common ground wherever possible, without ignoring important differences. What is reported is intended to cover most of what is said to be "good", "useful", or "desirable" about accounting information. The four-step structure of this chapter is depicted in Figure 2.1 (next page). To begin with, a search of the literature identifies three main Objectives of Accounting. This list of objectives, which is presented and discussed in Section 2.1, is intended...
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...What drives demand and how might we be able to measure demand? READING: An Alternative Determinant of Warehouse Space Demand: A Case Study AUTHORS: Asieh Mansour and Marvin C. Christensen READING: The Environment and Performance of Industrial Real Estate AUTHORS: John D. Benjamin, Emily N. Zietz and G. Stacy Sirmans ------------------------------------------------- Identifying and understanding the relationship between demand drivers and the specific property type in question is the key to building a strong model and obtaining reliable space demand measurements. In this paper I will be discussing the specific warehouse demand drivers identified in academia, traditional demand measuring models and the new warehouse space demand index used for measuring demand. What Drives Demand? The traditional determinants used to forecast space demand, have been limited to population, employment and growth factors. Academic research studies have found that using employment changes and population growth changes do not give accurate measures of demand. In the case of the warehouse market, space demand has grown noticeably much faster than would be expected based on employment measures. (Wheaton and Torto 1990) The economic activity of warehouse tenants was then studied and it was found that warehouse demand is driven by the export activities within the regional economy. (Hughes 1994) Globalization, market size, technological...
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...MANAGEMENT ACCOUNTING (1984-1994) – Development of New Practice & Theory Introduction Decade during 1984 – 1994, management accounting has a revolution in theory and practices that identified failings and obsolescence of existing cost and performance measurement systems Three major change in new theory & practices that influence management accounting practices: Activity Based Costing Management Operational Control Systems Performance Measurement: The Balanced Scorecard Activity Based Cost (ABC) Management Traditional cost allocation system that is identical to overhead allocation and direct costing were acknowledged to be obsolete. New cost system shifts the paradigm of how to allocate cost, to the paradigm of how to identify the cost flows from organizational spending to supply resources that create the capability to perform activities. New cost system is valuable for the following reasons: Enhance accuracy of manufacturing overhead cost analysis that influencing product design decisions Accurately assign the organizational cost throughout a company’s value chain to their underlying causes: products, customers, channels and organizational units. Trace resource expenses to the activities performed by the resources. The activity cost could then be traced to individual products, customers, and services as cost objects. Activity Based Cost (ABC) Management Breakthrough for ABC systems came from 2 theoretical developments: Hierarchy for Activity Cost Drivers...
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