chapter one clicker quiz. a.reliable techniques b.continous improvement c. proactive- all costs...

Chapter OneClicker Quiz

A. Reliable Techniques B. Continous Improvement C. Proactive- all costs stem from

management decisions D. Strategic decision making

–philosophy of improvement because it prmotes the idea of continually. Pg 5

A proactive attitude that ll costs of products and operations result from management decisions. Pg 5

– Reliable techniquest. A cost management system is the set of cost-management techniques that function together to support the organization’s goals and activities. Pg 5

Strategic decision making determine “where” and “how” by choosing the implementing actions. Page 10

A. Limitations B. Authorization C. Independent Vertification D. Prohibiting Behavior E. Sound Personnel practices F. Separation of Duties

Rotating personnel and requiring employees to take vacations

Setting limits on the amount of expenditures

Not accepting gifts from present and prospective vendors

Reconciling bank statement, reconciling A/R, reconciling Inventory

Requiring management authorization for the use of a company car.

Collusion can beat this internal control.

Integrity Competence Creditability Keep information confidential

2002 Managers are expected to be particularly

diligent in measuring costs and other financial data.

Pay attention to cost benefit.

Where Do We Want to Go? How Do We Want to Get There?

Which measure is called a Cash Cow. A.Build B.Hold C.Harvest D.Divest

Need to maintain cash flow Mature market Need to maintain volume Focus on cutting costs Low-Medium Risk: Low-Medium Reward

Which measure is required when the market is declining?

A.Build B.Hold C.Harvest D.Divest

Need to exit at lower cost Bad fit Minimize Losses Focus on finding a buyer quickly Low Risk: Low Rewards

Which measure is needed when a new market is potentially high.


Need to achieve growth Important to early entrance Focus on capturing market share High Risk High Rewards

Which measure is needed to maintain growth?


Market Continuing Need to be a major player Focus on protecting market share Medium-High Risk: Medium-High Reward

Competive advantage –something that gives more value than competitors

Process – tasks that transform inputs into identifiable outputs

Value Chain – Starts with resources and ends with product or services pg 12

Pg 19 What we want to happen (Plan) What actually happened. Calculate the difference Explain why there is a difference

Problem 1-33 example pg 29

Problem 1.36 CMA Adapted Problem 1.37 Real Life

chapter one clicker quiz. a.reliable techniques b.continous improvement c. proactive- all costs...

Documents

inventory slide

information confidential

clicker quiz slide

lowmedium reward slide

authorization c

independent vertification

management techniques

management decisions