(i) It is cheaper for the entity to obtain materials as they are able to obtain discount
(ii) Time saving – an efficient policy saves on the time required to acquire supplies
(iii) Quality – an efficient procurement policy ensures that only quality supplies are obtained
(iv) An efficient policy eliminates any delays in production due to unavailable raw materials and this profitability is not affected
(v) An efficient policy vets all the vendors/supplies and ensures that only the reliable supplies are awarded the tenders
(vi) An efficient policy ensures that only the minimum number of human resource is maintained in the procurement department thus eliminating unnecessary duplication of effort and cutting of wage cost.
Kavungya answered the question on April 29, 2021 at 09:56
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Distinguish between goals and objectives describing how they can be used in the development of corporate strategic plans.
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Distinguish between goals and objectives describing how they can be used in the development of corporate strategic plans.
Date posted:
April 29, 2021
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What are the characteristics of a good mission statement?
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April 29, 2021
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Discuss the contributions of scientific school of management to the study of work and its relevance to the management of organizations today.
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Discuss the contributions of scientific school of management to the study of work and its relevance to the management of organizations today.
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April 29, 2021
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Explain the environmental factors that a marketing manager should consider before entering the international market.
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Explain the environmental factors that a marketing manager should consider before entering the international market.
Date posted:
April 29, 2021
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“When a company introduces a new product, it faces the challenges of setting its price for the first time.”
Discuss this statement using the two pricing...
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“When a company introduces a new product, it faces the challenges of setting its price for the first time.”
Discuss this statement using the two pricing strategies.
Date posted:
April 29, 2021
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Answers (1)
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Samson Kimani was recently appointed as the finance manager of Bita Chemicals Ltd. He qualified as an accountant one year ago and this is his...
(Solved)
Samson Kimani was recently appointed as the finance manager of Bita Chemicals Ltd. He qualified as an accountant one year ago and this is his first managerial position. The finance department is made up of ten members of staff who have been working for the company for several years but since they are not qualified accountants, they were not considered when the appointment was being done. Members of the department are not happy with the appointment as they would have liked someone who has been with the organization for a longer duration and therefore with more experience to have been promoted to that position.
Although Samson is a good accountant, he has a problem relating to people. Consequently, there has been little social contact between him and members of his department.
To overcome his communication problems, Samson has been relying on internal memoranda and placing instructions on the department’s notice board as the main methods of conveying information to his staff. These new methods of communication have not been well received by the staff and have resulted in several complaints being made to the chief finance officer regarding Samson’s inability to effectively communicate with his staff. There has also been a lot of confusion within the department and team spirit is at an all time low.
The chief finance officer has talked to Samson and was able to establish the following as the reasons for Samson’s reliance on written communication only:
To avoid confusion since there is a documented record of his instructions.
When chairing departmental meetings he feels intimidated with so many experienced and older employees and as a result the meetings always end in chaos with no decisions being made.
As a manager in a consultancy firm, you have been approached by the chief finance officer to help Samson improve on his communication skills.
Required:
(a) Explain to Samson why he should use different styles of communication to improve the working relations in his department.
(b) Outline to Samson the guidelines of conducting effective meetings with members of his department.
Date posted:
April 29, 2021
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Answers (1)
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Quality management is an important strategic issue in an organization. Discus.
(Solved)
Quality management is an important strategic issue in an organization. Discus.
Date posted:
April 29, 2021
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Answers (1)
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Show how delegation of authority in an organization is influenced by the following factors:
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b)Unity of command
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(Solved)
Show how delegation of authority in an organization is influenced by the following factors:
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Date posted:
April 29, 2021
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Answers (1)
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“For any manager to be effective in the change process, he must own the process”
Discuss this statement with regard to a manger as an agent...
(Solved)
“For any manager to be effective in the change process, he must own the process”
Discuss this statement with regard to a manger as an agent of change.
Date posted:
April 29, 2021
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What criteria can an organization use for allocating resources to different departments?
(Solved)
What criteria can an organization use for allocating resources to different departments?
Date posted:
April 28, 2021
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Effective allocation of the resources of the organization is essential for strategy implementation. Discuss.
(Solved)
Effective allocation of the resources of the organization is essential for strategy implementation. Discuss.
Date posted:
April 28, 2021
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Answers (1)
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Describe the basis upon which consumer markets could be segmented, highlighting the reasons
Date posted:
April 28, 2021
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Answers (1)
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Differentiate between consumer markets and industrial markets
(Solved)
Differentiate between consumer markets and industrial markets
Date posted:
April 28, 2021
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Answers (1)
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One of the departments of Block Industries Ltd. is headed by a manager who is responsible for approximately 50 professionally qualified staff, plus ancillary workers....
(Solved)
One of the departments of Block Industries Ltd. is headed by a manager who is responsible for approximately 50 professionally qualified staff, plus ancillary workers. Section heads look after groups of between four and seven members of staff.
The previous manager was keen, understanding and strict; he closely observed performance, weaknesses and strengths of each staff member. He commended what he observed.
The services offered by Block Industries Ltd were efficient and highly regarded. Staff used to take part in many discretionary activities such as involvement in public affairs and voluntary unpaid overtime work.
A year ago, a new manager was appointed. The new manager, trained in a famous business school, appears to be cold and aloof. He immediately promoted two section heads to be assistant managers, one in charge of public relations, the other in charge of administration to be responsible for the newly introduced weekly performance reports and briefing meetings.
Since the appointment of the new manager, 30% of the staff have left the organization and the rest have gradually ceased all their discretionary activities. There is now a policy of positive non co-operation adopted by employees.
Required:
a) In you own words, briefly analyze the human resources problems facing Block Industries Ltd.
b) Identify five causes that might have led to the prevailing situation and suggest the ways in which the situation can be corrected.
Date posted:
April 28, 2021
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Answers (1)
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Business process re-engineering affects the way in which work is undertaken in an organization.
Explain this effect as it relates to:
a) Employees’ behaviour.
b) Work structure.
(Solved)
Business process re-engineering affects the way in which work is undertaken in an organization.
Explain this effect as it relates to:
a) Employees’ behaviour.
b) Work structure.
Date posted:
April 28, 2021
.
Answers (1)
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Identify five environmental factors that affect business and explain the way in which each factor influences the marketing mix of an organization.
(Solved)
Identify five environmental factors that affect business and explain the way in which each factor influences the marketing mix of an organization.
Date posted:
April 28, 2021
.
Answers (1)
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The organization for which you work wishes to develop a quality control programme. As the production manager, the director has requested you to develop the...
(Solved)
The organization for which you work wishes to develop a quality control programme. As the production manager, the director has requested you to develop the programme.
Explain the steps you would follow in developing the quality control programme for your
organization.
Date posted:
April 28, 2021
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Answers (1)
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Explain the factors to be considered when purchasing materials for an organization.
(Solved)
Explain the factors to be considered when purchasing materials for an organization.
Date posted:
April 28, 2021
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Answers (1)
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Describe the steps to be followed in a materials purchasing procedure.
(Solved)
Describe the steps to be followed in a materials purchasing procedure.
Date posted:
April 28, 2021
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Answers (1)
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What factors may limit the effectiveness of a performance appraisal system
(Solved)
What factors may limit the effectiveness of a performance appraisal system
Date posted:
April 28, 2021
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Answers (1)