Cost Reduction – Knowsia

BMIS – L1 – QH2 – Cloud Computing

Cloud Computing, Accounting Software, Accessibility, Security, Cost Reduction

Question

The finance department at your organisation, Apex Solutions, is considering moving from traditional accounting software to cloud-based accountancy software.

Required:

Briefly explain FOUR advantages from which the finance department could benefit by moving to cloud-based accountancy software

Answer

Find Related Questions by Tags, levels, etc.

Tags: Accessibility, Accounting Software, Cloud Computing, Cost Reduction, Security
Level: Level 1

Topic: The internet

BMIS – L1 – QE11 – Operations strategy

Explain total quality management.

Question

(a). Total quality management has gained attention in both manufacturing and service firms as a way of improving the firm’s operations, yet its implementation has met a lot of resistance from employees. You are required to:

(i) Explain total quality management.

(ii) Suggest FOUR guidelines that can be adopted to reduce such resistance.

(b) (i) Explain just-in-time inventory control.

(ii) State FOUR advantages of its use in a manufacturing company.

Answer

Find Related Questions by Tags, levels, etc.

Tags: Cost Reduction, Customer satisfaction, Inventory Control, Just-in-Time, Operational efficiency, Waste reduction

Topic: Operations strategy

BMIS – L1 – QE2 – Globalisation strategies

Explain six objectives of multinational companies pursuing globalisation strategies.

Question

In the preceding five decades, a significant number of companies have pursued well-conceived strategies of Globalisation in order to seize the immense business opportunities by operating on a worldwide basis. These companies have achieved notable success in the expansion of their business globally and have manufacturing facilities and marketing networks spread in several countries.

Required

State and briefly explain six significant objectives of multinational companies in pursuing policies of Globalisation.

Answer

Find Related Questions by Tags, levels, etc.

Tags: Competitive advantage, Cost Reduction, Economies of scale, Globalisation, Labour costs, Market expansion, Multinational Companies, Tax Benefits
Level: Level 1

Topic: Competitive forces and markets

SCS – L3 – Q25 – Competitive advantage

Discuss Porter's Diamond factors for Central African competitiveness and explain four internationalization strategies with risks.

Question

(a) Tech Trend IT Limited (TIL) started operations 10 years ago in Zamora providing a wide range of information technology solutions to diverse clientele. Mr. Mensah, the chief executive officer (CEO) of the company, recently has been contemplating venturing into other Central African markets to take advantage of untapped opportunities. This is also to strengthen competitive position of TIL since Zamorean market growth is beginning to slow down and competition is getting keener.

At the 2016 second quarter Board meeting, the CEO tabled his proposal for consideration and board’s input before the document was finalized. During the Board discussions Prof Nkrumah, who lectures Corporate Strategy, suggested to the CEO to use Porter’s Diamond of national advantage to assess competitive advantage of the other Central African countries the company intends to enter. Prof Nkrumah also mentioned to the CEO that companies that compete in the global marketplace typically face two types of competitive pressures: pressures for cost reductions or global integration and pressures to be locally responsive.

The cost reduction-local responsiveness dilemma shapes and results in four basic international strategies – international, global, multidomestic, and transnational – which the CEO should consider in making the choice.

Required:

Discuss how the FOUR factors in the Porter’s Diamond of national advantage determine competitiveness of the other Central African countries on the global stage.

(b) Explain the following internationalization strategies and identify TWO risks associated with each of the strategies:

(i) International strategy

(ii) Global strategy

(iii) Multidomestic/Multinational strategy; and

(iv) Transnational strategy

Answer

Find Related Questions by Tags, levels, etc.

Tags: Competitive advantage, Cost Reduction, Global markets, International strategies, Local responsiveness, Porter's Diamond
Level: Level 3

Topic: Competitive advantage

MA – L2 – Q9 – Models of evaluation Quality

Distinguish between cost control and cost reduction, and discuss the emphasis on cost reduction in management accounting training.

Question

It has been suggested that much of the training of management accountants is concerned with cost control whereas the major emphasis should be on cost reduction.

Required:
(a) Distinguish between cost control and cost reduction;
(b) Discuss the proposition contained in the statement.

Answer

Find Related Questions by Tags, levels, etc.

Tags: Cost Control, Cost Efficiency, Cost Management, Cost Reduction, Management Accounting, Performance Improvement, Quality management
Level: Level 2

Topic: Models of Evaluation Quality

Tag (SQ): Cost Reduction

Filter by Professional Bodies

Filter by Subject

Filter by Topics

Filter by Levels

BMIS – L1 – QH2 – Cloud Computing

Cloud Computing, Accounting Software, Accessibility, Security, Cost Reduction

BMIS – L1 – QE11 – Operations strategy

Explain total quality management.

BMIS – L1 – QE2 – Globalisation strategies

Explain six objectives of multinational companies pursuing globalisation strategies.

SCS – L3 – Q25 – Competitive advantage

Discuss Porter's Diamond factors for Central African competitiveness and explain four internationalization strategies with risks.

MA – L2 – Q9 – Models of evaluation Quality

Distinguish between cost control and cost reduction, and discuss the emphasis on cost reduction in management accounting training.

Our offerings

Community

Contact Info

Customer

Get In Touch

Tag (SQ): Cost Reduction

Filter by Professional Bodies

Filter by Subject

Filter by Topics

Filter by Levels

BMIS – L1 – QH2 – Cloud Computing

Cloud Computing, Accounting Software, Accessibility, Security, Cost Reduction

You're reporting an error for "BMIS – L1 – QH2 – Cloud Computing"

BMIS – L1 – QE11 – Operations strategy

Explain total quality management.

You're reporting an error for "BMIS – L1 – QE11 – Operations strategy"

BMIS – L1 – QE2 – Globalisation strategies

Explain six objectives of multinational companies pursuing globalisation strategies.

You're reporting an error for "BMIS – L1 – QE2 – Globalisation strategies"

SCS – L3 – Q25 – Competitive advantage

Discuss Porter's Diamond factors for Central African competitiveness and explain four internationalization strategies with risks.

You're reporting an error for "SCS – L3 – Q25 – Competitive advantage"

MA – L2 – Q9 – Models of evaluation Quality

Distinguish between cost control and cost reduction, and discuss the emphasis on cost reduction in management accounting training.

You're reporting an error for "MA – L2 – Q9 – Models of evaluation Quality"

Our offerings

Community

Contact Info

Customer

Get In Touch

admin

Pick a Form