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STRATEGIC THINKING, COST MANAGEMENT, TYPES OF ORGANISATIONS, FIRMS -…

- - - - Costs that occur after manufacturing eg service & warranty cost
- - - - other decisions related to operations, lease v buy / repair or replace equip / change mark plan
      - Scheduling production
      - Pricing
      - Cash flow mgt
      - Budgeting materials purchases
    - - OPERATIONAL CONTROL
        
        Monitoring of short-term operating performance; takes place when mid-level managers monitor the activities of operating-level managers
      - Identify inefficient operations
      - Reward & motivate most effective managers
      - MANAGEMENT CONTROL
        
        The system used by upper-level managers(controller or CFO) to evaluate the performance of mid-level managers
    - - Requires mgt to comply with fin REPORTING REQUIREMENTS of regulatory agencies eg FASB
    - - Other long - term issues
      - Customer Profitability
      - Distribution channels
      - Marketing Techniques
      - Manufacturing methods
      - Choice of products
      - Dev & Imp of sustainable competitive position
- - - - BUSINESS EVENTS
      - DATA
      - INFORMATION
      - KNOWLEDGE
      - DECISIONS
    - - Usefullness
      - Timeliness
- - - - Merchandisers sell to other merchandisers
    - - Sell directly to consumers
      - Cost Mgt info: Manage stocking, distribution & customer service
- - - - exp cost of adding a new product feature
      - defect rate of a new part
      - reliability of a new manufacturing process