Performance Improvement

SCS – L3 – Q34 – Internal analysis

Explain benchmarking and its advantages for Zamu Fashions in Zamora.

Question

(a) In the business world, companies use benchmarking as a point of reference. Benchmarking occurs across all types of companies and industries. Many companies have positions or offices that are in charge of benchmarking.
Required:
(i) Explain the term benchmarking.
(ii) Explain FOUR advantages companies gain from benchmarking.

(b) Zamu Fashions is a Zamoran private company owned mainly by the Zamu family. Most of its clothing and accessories are produced and marketed by the company (some are manufactured by outside contractors). For other products, notably fragrances, cosmetics, and eyewear, Zamu Fashions licenses its brand names to other companies. The Board of Directors of Zamu Fashions is considering expanding into new foreign markets with athletic clothing, hotels, and bridal shops.

Required:

Advise Zamu Fashions on the most suitable foreign market entry strategy for each of the new line of business.

Answer

Find Related Questions by Tags, levels, etc.

Tags: Benchmarking, Cost Control, Innovation, Performance Improvement, Position Audit, Zamora
Level: Level 3

Topic: Internal analysis

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): Performance Improvement

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SCS – L3 – Q34 – Internal analysis

Explain benchmarking and its advantages for Zamu Fashions in Zamora.

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.

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Tag (SQ): Performance Improvement

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SCS – L3 – Q34 – Internal analysis

Explain benchmarking and its advantages for Zamu Fashions in Zamora.

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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.

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