Project development costs are costs that will have to be taken when performing this project. The costs could be for machines, workers, land, or any and all other expenses when performing this task. It is important to budget these costs to ensure that the project does not go over budget (Findley 1998). The preliminary return on investment is to calculate what the return on investment will be for this project. The return on investment is calculated by the revenue gained subtracted by the costs and then divided by the costs to give a percentage value of how much return on investment is on the project.
The outcomes established should be within the control of the individual or team and should be those results that lead to the Aflac’s success. While at upper levels, the goals might deal with financial aspects of the firm such as profit or cash flow, and market considerations such as market share or position in the market (Casteel, 2013). 6. Conclusion Throughout this case study the following key issues were be addressed; the internal strengths and weaknesses of Aflac. The external opportunities and threats of Aflac.
The price of the menu would be significantly cheap in this kind of economic and when comparing with competitor such as the local restaurant, the price would be still cheaper. They also introduces the use of information technology that synchronize their global operation together and reduce over level of
• It allows restaurant managers to better classify their menu items in term of profitability and popularity and avoid losing money in terms of loss. • By using ME/ABC methods it was able to identify another category known as “Diminished stars” having profitability higher than average profitability but was creating overall negative profitability. • The result also shows that menu Items belonging to “Diminished Star” and “Plow Horses” category are adding more to negative profit in case of Unprofitable restaurants which are contrary to the finding of Traditionally ME method according to which “Dogs” Category items are adding more to negative
so called decision variables usually denoted by x1, x2,….xn are conducted. Objective functions : the objective function of each lp problem is expressed in terms of decision variables to optimize the criterian of optimality such as profit, cost, revenue, distance etc. In its general form, it is represented as : Optimize (maximise or minimise) Z= c1x1 + c2x2 +…….+ cnxn Where z is the measure of performance variables, which is a function of x1, x2,…..xn. quantities c1, c2,…… cn are parameters that represents the contribution of a unit of the respective variable x1, x2, …….. xn to the measure of performance z. the optimal value of the given is obtained by the graphical method or simplex method. The constraints : there are always certain
Cost estimating can be defined as the process of calculating the cost of the required resources needed to complete the project work. While doing the estimating the possible fluctuations, conditions and other causes of variance must be consider so that total cost of estimate will not affect. To calculate cost estimates for each activity cost estimate uses the resource requirements, resource cost rates and the activity duration estimates. Estimating publications, historical information, and risk information are used to determine which methods and strategies would yield the most accurate estimates. The most challenging tasks that project managers must faces is Estimating the effort, time, and resources needed to complete project activities .
Furthermore, Han and Kim (2009), taking the case of a restaurant-service, intensify the use of perceived price to demonstrate that what are the elements in other service factors which are beyond the prices which are stated on the menu price. The key point for perceived price is the coding process (Zeithaml, 1984), wherein the buyer infers the objective price into the perceived price. Therefore, the explanation process involves a comparison among different service providers or products regarding the objective price and what the customer is getting through an exchange. This research derives this subjective as well as relative nature of
According to Diaz(n.d), “The most evident advantage of fast food is that it saves time”. This today is the most essential thing that people need because it helps them to do their work faster because of the time saved. From going to the mall to preparing the meal instead of ordering right from their telephones in their houses. Another evident advantage of processed food is, it is widely available. From a vast amount of choices to MCDonalds, KFC, Max’s there is no doubt that processed food is widely available.
In the first stage, the resource costs are assigned to activities based on the amount of resources consumed in performing the activity. An activity cost would equal the sum of all the resources consumed in performing the activity. In the second stage, activity costs are traced to the frequency of the activity of the product of service is performed in support of the cost object. ABC is a cost management method that addresses the shortcomings inherent in traditional costing methods for handling the indirect costs (Needy and Bopaya, 2000). ABC was originally developed by companies to deal with the problem of product cost subsidization in the traditional costing system.
Bogdanoiu (2009) argued ABC models the causal relationships in the production between products and the resources used and find out the cost of products with respect to the activities in the course of the use of suitable cost drivers. ABC is taking place in the two phases. The costs of sources are allocated to activities by means of using factors of cost firstly. Then the activities cost are split to cost objects by means of measuring quantity and associated cost drivers, which means that activities costs are to be paid to costs objects, which are relevant cost