Describe the actions that can be taken by an organisation to reduce costs

Costs in Organizations

SITUATION 2: 40 points
Try EVERY question
3. Discuss the benefits and drawbacks of recycling to an organization in (a).
(a) Describe the drawbacks of having an abundance of stock.
(c) All firms place a premium on product quality.
(i) List two techniques for assuring quality.
(ii) Explain the techniques mentioned in (c)(i).
Total points: 4. Explain the following financial terminology in (a).
• Fixed expenses
• Variable expenses
• Sales Income
b) Describe the steps that an organization can take to cut expenditures.
Explain why a spreadsheet is used in the financial department in (c) (i).
(ii) Describe the applications for alternative software the finance department might use.
Total points: 5. (a) Describe how the ideal candidate for the position was selected.
(b) (i) Describe two possible forms of industrial action.
(ii) Describe how industrial action affects an organization.
(b) Contrast the time-rate and piece-rate approaches to determining salaries.

6. (a) Describe two internal elements impacting an organization’s success.
(b) Describe the production factors.
(c) (i) Name two supermarket stakeholders.
(ii) Describe how these stakeholders might affect the organization’s success.


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