operation and produces until a predetermined number (Q) has been produced. When not producing cakes, the bakery uses its personnel and facilities for producing other bakery items. The setup cost for a production run of cakes is $700. The cost of holding frozen cakes in storage is $9 per cake per year. The annual demand for frozen cakes, which is constant over time, is 6000 cakes. Determine the following: a. Optimal production run quantity (Q) b. Total annual inventory costs c. Optimal number of production
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It is a challenging and dynamic field and this because of changing economic conditions, competition, and changing recourse positions. If important factors must be addressed and they include: 1. Personnel outcomes – achieving organization and effectiveness, employee effectiveness and needs. 2. Organization environment – i.e. the job, the work group, work supervisor and employee. 3. Personnel activities – techniques, programs and approaches. External environment – Influences and restricts a firm’s
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Minimize adverse impact, ethical and legal concerns • Maximize ROI/costs of hiring • Candidates reaction (fair, consistent and objective) Source: Strategic Staffing 2nd edition – Phillips and Gully. Chapter 9 Assessing External Candidates page 233- 240 2) Discuss the advantages and disadvantages of both structured and unstructured interviews. Which would you prefer to use? Why? Unstructured Interviews Disadvantages • Standard approach is absent variances by candidate/interviewer • Formal
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Performance Management Plan Ahmad Jaradat HRM 531 November18, 2013 Dennis Cashman, Ph.D. MEMORANDUM TO: Traci Goldman FROM: Ahmad Jaradat DATE: November 18, 2013 Subject: Performance Management Plan Regarding your request, I am tasked with formulating a performance management plan for Bradley Stonefield. As I understand, Mr. Stonefield is creating a Limousine company in Austin, Texas. His goal is to have 25 employees within the first year of operation. The performance
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Council of American Survey Research (CASRO). It has established a code of standards and ethics for survey research. The purpose of this paper is to look at some of the ethical issues involved in marketing research from the CASRO code of standards and ethics. CASRO was founded in 1975. There are over 300 companies and marketing research operations worldwide who are members. All members of the CASRO have to follow the Code of Standards and Ethics for Survey Research. This code is highly regarded in the
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Boomers (78 million). Every day in the U.S., 10,000 Baby Boomers reach age 60, putting greater demands on medical services. Chronic diseases, many preventable (diabetes, cancers of the lung and cardio vascular disorders) also contribute to escalating cost of health care. Acronyms reduce the amount of data needed to convey messages which result in the reduced time and labor required to produce documentation in the field of health care. The following are common acronyms characteristic of the language
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correct equipment, and it is fully utilized by McDonald’s. The procedures of preparing a hamburger, for example, are simplified and employees do not have to take more than two steps to complete their task. The employees are also required to apply a standard method to complete their task. For example, the French fries are to be thrown away if the cooking time is too long. Also, the layout of their machinery has reduced the wasteful motion of going to the other end of the shop to collect something minor
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approaches to overhead cost analysis. A traditional approach is a costing method that is used to allocate manufacturing costs to specific products. It uses single cost driver such as machine hours, direct labour hours to allocate indirect manufacturing costs. Traditional costing approaches can referred as the conventional method. However, there are many cost drivers in reality when factory overhead occurred, such as machines setups, or inspections. Since it missed out the others cost driver, it may fail
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Program Evaluation Overview 1 Program Evaluation Overview The unstable, unpredictable, and ever fluctuating economy makes a good atmosphere for organizations to reap the benefits of a program evaluation. Competitive success in the everchanging marketplace will only occur when an organization puts into place continuing program feedback and program adjustments or adaptations (McNamara, 2006). There are several program evaluation models and methods available to any organization, making the stakeholders
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For any operating business, the primary goal is not just to earn profit but also to maximize their profit margins. As normal convention dictates profit as the difference between revenue and cost, how much profit an entity makes depends largely on how much revenue it earns. Therefore, price and quantity of goods sold are the two most direct influence on the profit of every entity and this makes a not only accurate but also strategic pricing decision a necessity for any business that wants to thrive
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