A game plan that enables a company t attract customers by distinguiishing itself from compeitors. (Customer Intimacy, Operational Excellence, Prouct Leadership)
Enterprise Risk Management
A process used by the company to help identify the risks that it faces and develop responses to those risks that enable the company to be reasonably assured or meeting its goals.
Theory of Constrains (TOC)
A management approach that emphasizes the importance of managing constrains.
A method that relies on customer feedback and objective data gathering and analysis techniques to drive process improvement.
Direct related to the achievement of the organiation's goals./ Indirect related to the achiement of the organization's goals.
The delegation of decision-making authority throughtout an organization by providing with the authority to make decisions relating to their area of responsability.
Product Cost/Period Cost
All costs that are involved in acquiring or making a product (Direct Materials,Direct Labor, Manufacturing Overhead)/ Costs that are taken directly to the income statment as expenses in the period which they are incurred or accrued.