A quality circle; Quality circles are based on the assumption(s) that:
The people who do the job know it better than anyone else in the management.
What is a quality circle?
The term "Quality Circle" refers to a group of people who regularly get together to talk about issues at work. The quality circles are typically intimate get-togethers facilitated by the manager or supervisor who brings the management the alternatives.
Objectives of a quality circle:
- To contribute towards the development of the management.
- To create a healthy work environment such that employees find the place worthwhile to work
- To explore the hidden potential of the individuals and drawing out the infinite possibilities.
- To improve the product quality and the productivity of the organization.
- To improve the team skills, capabilities, confidence and creativity through education, training, and participation of volunteers in the circles
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Answer: Option A
Explanation: In simple words, reversal effect refers to the situation when due to announcement of some relevant news in the market the conditions prevailing changes drastically leading to worst values stocks performing better and vice versa.
The reversal effect is seen as a long term effect caused due to short term errors that happened in the past.
Answer:
Applied overhead: 387,750
underapplied by 74,250
Explanation:
to get the predetermined overhead rate we will distribute the expected cost along a cost driver. In this case, labor hours.
403,260 / 61,100 = 6.6
Then, we apply this rate to the actual labor hours for the period:
58,750 x 6.6 = 387,750
This will be the applied overhead for the period.
The we compare with the actual overhead:
387,750 - 462,000 = (74,250)
As the actual cost were higher the overhead was underpapplied.
It is false. By preserving what is unique about a company, strategic positioning aims to achieve long-term competitive advantage. It refers to engaging in different activities from competitors or engaging in comparable activities but in various ways.
Companies can use strategic positioning as a key instrument to increase business profit. Determining how to set themselves apart from rivals may be a crucial step in developing the goal and operating principles of new businesses. By expanding the volume of products they produce and the market they serve, strategic positioning can aid established businesses in growing. Executives of a firm may find it helpful to attract investors and media attention by being able to articulate how their organization differs from that of its rivals.
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Out of the following choices, low grade gasoline is a product that is considered a commodity. The lower grades of gasoline are more affordable for people to buy.