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Any five reasons why planning is important in organisation?
Planning improves time and reduces cost
How are cost control and cost reduction schemes implemented in an organisation?
Lebari samuel. cost control is implemented by calling departmental heads on their spending and also be mindfull of the way you allocate fund.
Differences between cost control and cost reduction?
Cost Control - Taking Steps to ensure that the cost expenditure in the project is in line with what was planned during the planning phase. If the expenditure looks like exceeding the planned value, then steps are taken to reduce the cost to bring it back in line with the plan Cost Reduction - Taking steps to reduce the amount of money spent on any activity or project
What are the objectives of cost management?
Cost management is the process of planning and controlling the budget of a business. Cost management is a form of management accounting that allows a business to predict impending expenditures to help reduce the chance of going over budget.
What is different between narrow and wide span organization?
The Difference Between Tall (Narrow Span of Control) and Flat (Wide Span of Control) Organisation Structure is based on following twelve points :- 1. Meaning If the span of control is narrow, then there will be many management levels. That is, there will be many managers. This organisation structure is called "Tall Organisation Structure". If the span of control is wide, then there will be fewer management levels. That is, there will be fewer managers. This organisation structure is called "Flat Organisation Structure". 2. Span of Control Narrow span of control results in "Tall Organisation." Here there are many managers. Each manager has to manage only few subordinates. Wide span of control results in "Flat Organisation". Here there are few managers. Each manager has to manage many subordinates. 3. Formal and Informal Relations In Tall Organisation Structure, a manager has to manage only a few subordinates. Therefore, the relationship between them will be informal. Personal relationships are possible. In Flat Organisation Structure, a manager has to manage many subordinates. Therefore, the relationship between them will be formal. Personal relationships are impossible. 4. Control of Subordinates In Tall Organisation Structure, there is a close control because there are few subordinates. In Flat Organisation Structure, there is a loose control because there are many subordinates. 5. Extent of Coordination In Tall Organisation Structure, the coordination is good. In Flat Organisation Structure, the coordination is not so good. 6. Mistakes In Tall Organisation Structure, there are less mistakes because of close supervision and control. In Flat Organisation Structure, many mistakes may occur because of loose supervision and control. 7. Discipline In Tall Organisation Structure, Good discipline can be maintained because there are few subordinates. In Flat Organisation Structure, the possibility of indiscipline exists because there are many subordinates. 8. Cost Tall Organisation Structure is costly because it has many managers. Flat Organisation Structure is less costly because it has less managers. 9. Decision Making In Tall Organisation Structure, Decision making is slow because there are many levels of management. In Flat Organisation Structure, Decision making is quick because there are few levels of management. 10. Guidance to Staff Tall Organisation is suitable for staff that needs detailed guidance. Flat organisation is suitable for staff that needs less guidance and more independence. 11. Pressure on Managers In Tall Organisation, there is less pressure on managers because they have only few subordinates to supervise. In Flat Organisation, there is more pressure on the managers because they have much more subordinates to supervise. 12. Communication In Tall Organisation, communication may be distorted and delayed because there are many levels of management. In Flat Organisation, communication will not be distorted and delayed because there are few levels of management.
What is personnel structure?
Personnel structure within an organisation is how it's employee base is organised/structured. The complexity of an organisation's structure will depend on the services the company offers and number of employees. Most businesses will attempt to structure there company in the most cost-effective manner
What is internal recruitment?
To recruit internally means hiring the people within the organisation. There are many methods to identify quality internal candidates. In an organisation some of the methods for the internal source of recruitment are:1. Transfer : Transfer means shifting the employee from one place to another without the change in their designation. This helps them to learn more about the organisation which would help in the promotions in the future.2. Promotions : In promotions the employees are moved to the upper levels of an organisation with more responsibilities. There are many benefits of hiring the higher positions within the organisation such as:The employee is familiar with the working environment of the company.It is cost effective.Other employees get motivated to work harder and reach the higher levels.3. Employee Referrals : The present employees can offer the job to their friends and family. It would save cost and time than hiring the people from external sources.
What is the purpose of a cost center within a business organisation?
what is a cost centre
How do you calculate value added per employee?
VAPCO = sales-variable cost/total employee cost.
What is considered a facility level cost?
Cost of Organisation's sales forces and sales management !
What are the cost center of any organisation. eg. reliance?
mobile could be a cost center
How you can reduce cost of manufacture?
Reduce the cost of materials, labor or overhead, or improve productivity.
Why should they use your company as a training institution and not hire someone else?
It depend basically on the organisation you are working under, for instance you work as an NGOs and you have a sensitization training to carry out and your organisation is base in Lagos you don't have to hire an Hotel for the sensitization you just have to make use of your organization to reduce cost of expenditure and save money.
Why the direct salary paid to an employee does not represent the total cost of the employee to the organization?
While the direct salary represents the majority of the cost of an employee, there is also the cost of carrying an employee on payroll, employment taxes, unemployment insurance, benefits, etc... This cost, also known as the "burden", varies from 18% of the employee's annual salary to about 26%, depending on the state of residence and the richness of the benefit plan.
How much does liposuction cost in the UK?
Liposuction in the UK can vary in cost from organisation to organisation and depending on the actual treatment itself. However what I have found is that generally it can cost around å£1500-å£1800 for each procedure.
How much does liposuction cost in uk?
Liposuction in the UK can vary in cost from organisation to organisation and depending on the actual treatment itself. However what I have found is that generally it can cost around å£1500-å£1800 for each procedure.
What are challenges facing training and development in today's organisation?
it is cost
