This work and planning will all be focused on balancing the efficiency and responsiveness at a low cost. This is done through whatever plan you have for your supply chain and what business are in it. First is to focus on being able to be efficient enough. This means being able to make products at a good enough rate so that way not too many is made and not too little is made. This has to do a lot with the market and such and this is why you then focus on responsiveness.
Due to this reason, it is important that public sector employees must achieve their tasks at a finest level so that the general strategy, goals and the determination of government can be achieved. For the purpose of the assignment, key concept... ... middle of paper ... ...corporate plan is essential in the public sector institution is the values underlying PSHRM at a particular point in time. The values referred to include; efficiency; effectiveness; equity and responsiveness. However, the application of these values may differ from time to time, with regards to the policies of the party-political in authority (Erasmus et al. 2005:96).
Porter (1985) contends that the goal of a cost leadership strategy is to be the lowest-cost producer in a particular marketplace. By minimizing the costs associated with doing business the organization is able to obtain above average performance. “To be successful, this strategy usually requires a considerable market share advantage or preferential access to raw materials, components, labor, or some other important input. Without one or more of these advantages, the strategy can easily be mimicked by competitors” (Wikipedia.org, n.d.). The organization must also offer a product or service of comparable quality to its higher cost competition.
Hopper, Ashton and Scapens (1995) define this as “an approach to management accounting that explicitly highlights strategic issues and concerns. It sets management accounting in a broader context in which financial information is used to develop superior strategies as a means of achieving sustainable competitive advantage (p. 162). The importance of an organisation’s strategy can be noted when implementing control system tools as guidance is required. This often comes in the form of the strategies. Strategy can provid... ... middle of paper ... ...n makers would not otherwise have and will impact the outcome of decisions made for the better.
The principles of justice are in place to ensure that the “assignment of rights and duties” through the basic structure of society justly distribute both the “benefits and burdens” of social and economic advantages (Rawls, 47). Drawing from the difference principle, inequalities in wealth and income can be justified if all parties benefit as a result. In comparison to the alternative interpretations of natural liberty and liberal equality, a system of democratic equality holds to “pure procedural justice…[although] this still leaves too much to social and natural contingency” (Rawls, 69). Given this notion, however, the difference principle is fully “compatible with the principle of efficiency” (Rawls, 69). When tying the difference principle with fair equality of opportunity, it ensures that while individuals may have drastically different situations, the situations themselves are justified as long as the structure serves to “improve the expectations of the least advantaged... ... middle of paper ... ...uld be in Nozick’s framework (Rawls, 76).
Economic efficiency can be seen to maximizing total utility from a given amount of scarce resources. There are two types of economic efficiency—allocative efficiency and productive efficiency. According to their definitions, the idea of allocative efficiency is that “consumers pay firms exactly what the marginal cost is (Price=Marginal cost)…such a pricing strategy can be shown to be a key condition if achieving a ‘Pareto optimum’ resource allocation, where it is no longer possible to make anyone ‘better-off’ without making someone else ‘worse-off’.” (Griffiths and Wall, p93) When this condition is satisfied, total consumer and producer’s surplus are maximized. Alternatively, productive efficiency is about how to produce a good or service. To achieve productive efficiency, a firm must use all available methods to produce a certain level of output at the lowest possible costs.
The principle of value of money ensures that incase of different kinds of procurement process alternatives, the best procurement process is the one selected. It will ensure that the investment used is the minimal possible cost in any procurement process. The principle of ethics will ensure that the important concepts of procurement like clarity, fairness and transparency are observed. It is common for parties to want to benefit and hide some information but through the principle of ethics, the public is assured that the procure process is honest. The third principle of procurement, completion, as indicated helps the government to facilitate effectiveness, good pricing and high quality services and products is what is involved in procurement
A public organizational setting refers to the public entity profile, internal organization and budgetary status of the internal audit office as well as the public organizational policies and procedures that guide the operation of the public entity which is audited. As a public organizational setting provides the context in which internal audit operates, it could exert influence on the level of effectiveness that internal audit in public sector could achieve. As an effective public sector audit is able to enhance the governance of public entity by materially increasing the citizens’ ability to hold the public sector entity accountable, hence it is crucial that the public sector organization has a setting which promotes credibility, equity and appropriate behavior of public sector officials so that the risk of public corruption could be reduced. Adopting an organizational setting which is configured appropriately will enhance the audit activities to be acted with integrity and reliability in order to achieve the public sector internal audit’s objectives. Organizational independence has to be adopted to ensure that the audit activity may conduct its work without any interference by the entity audited.
A strong logistics and transportation needs the best model of distribution of the goods. The main purpose of the paper is to define the role of transportation in logistics for cost minimization and how to save to cost though good transportation. This research is to define the basic views of logistics and its various applications and the relationships between logistics and transportation to reduce and cost and maximize the response time. Business operations need to arrange in a way so as to provide goods at right time, to the right people at the right price. The designing of
Performance can be defined as the means to deliver public services in accordance with democratic principles, services must apart from being acceptable quality service but be equitably accessible to everyone entitled to it, frequently provided and sustainable (Fox & Meyer 1995:125). As far as democracy is concerned the relationship between the citizens and the state is of importance, the degree of citizen involvement is indicative of the extent to which service delivery is democratized. One can consequently accept that the greater the distance between governments and citizens, the less democratized service delivery is (Cloete 1998:25).