expert developed a strategic framework in which a firm has ways to develop a competitive advantage. Which of the following is one of the ways Porter suggested a firm use to develop a competitive advantage? A.) Supply chain management B.) Low cost production C.) Just in time management D.) None of the answers are correct 2.) Which of the following is not a tool for monitoring strategic performance A.) The balanced scorecard B.) Code of Conduct C.) Supply chain management
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other tasks. (a) "Contracting" or "subcontracting" refers to an arrangement whereby a principal agrees to put out or farm out with a contractor or subcontractor the performance or completion of a specific job, work or service within a definite or predetermined period, regardless of whether such job, work or service is to be performed or completed within or outside the premises of the principal. (b) "Contractor or subcontractor" refers to any person or entity engaged in a legitimate contracting or subcontracting
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Manufacturing Overhead Manufacturing overhead costs play a vital role in determining final cost of the product. Manufacturing overhead represents all the costs that the company incurs indirectly and not related to the cost of direct labor, direct materials or direct cost of machines (Donald, 2010). In short, companies are not able to trace these costs to individual items during the manufacturing process. Examples of overhead costs include factory supplies, costs emanating from compliance with local, state
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contracting terms: a. Administrative services only (ASO): Usually associated with self-funded groups, this is when an insurance company, HMO, or third-party administrator provides claims-processing services, but the employer pays the claim costs. Administrative services usually include billing, enrollment, and coordination of benefits, payment check processing, subrogation, fraud investigation, and network rental. b. Coordination of benefits (COB): Provision regulating payments when
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rotor. Each pair of diametrically opposed stator pole windings is connected in series or parallel to form an independent machine phase winding of the multiphase SR machine. Torque is produced by switching current in each machine phase winding in a predetermined sequence that is synchronized with angular position of the rotor, so that a magnetic force of attraction results between the rotor poles and stator poles. Current is switched off in each phase before the rotor poles rotate past the aligned position
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differential piece rate, employees whose production exceeds the standard output receive a higher rate for all of their work than the rate paid to those who do not exceed the standard. Employers will include piecework in their compensation strategy for several reasons. The wage payment for each employee is simple to compute, and the plan permits an organization to predict its labor costs with considerable accuracy, since these costs are the same for each unit of output. The piecework system is more
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has fallen below 20% which is under the company’s plan. The problem in the current pricing method used by Wilkerson is that the real manufacturing cost of each product is not realistic because of the high proportion of overhead costs which are 806,000 of 1,535,250 (52.5%). The current method assumes the overhead costs are correlated to the labor costs at 300% rate, while many of the overhead activities are performed per product line regardless of the amount of units produced. II. ANALYSIS
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products)? • Understand the different types of contracts: fixed price, cost plus percentage, cost plus fixed fee, cost plus incentive fee, and fixed price plus incentive fee. Know who assumes the most risk (buyer or seller) in each type of contract. Study examples of each type of contract so that you are comfortable with the different types and can adequately distinguish between each type of contract (especially the various shades of cost plus contracts!). • Know the elements of a legally enforceable contract:
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1. What was the largest U.S. fishery, in dollar terms, in 2007? B) Lobster. C) Walleye Pollock. D) Sea Scallop. 2. The table below shows the quantity of gold bars (Qb) in thousands, the extraction cost for each thousand bars (in millions of dollars), and user cost of each thousand bars (in millions of dollars) facing the OZ Mining Company this year. Refer to the data above. Suppose that a new government regulation is going to shut down OZ's mining operation 1 year from now. If the current
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(DRGs) as acute care hospital inpatients. It is based on resources that are used to treat Medicare recipients in those groups. Each DRG has a payment weight assigned to it, based on the average cost of treating patients in that DRG. IPPS plays an important role in deciding all hospital costs including the costs of all devices for treating the patient during a particular inpatient stay (CMS. Gov, 2012). On the other side, the outpatient prospective payment system (OPPS) is regulated for different outpatient
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