Homework Help is Here – Start Your Trial Now!
Business
Accounting
1. Define productivity.

1. Define productivity.

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
See similar textbooks
icon
Related questions
Question

Please help me answer this, as much as possible own word

1. Define productivity. 2. Why is it important for a firm that follows a strategy of being the cost leader to improve productivity? 3. What are the criteria often used to assess productivity? Give their advantages and disadvantages. 4. Distinguish between operational productivity and financial productivity. 5. Distinguish between partial productivity and total productivity. 6. Why is operational productivity measures preferred over financial productivity measures by manufacturing personnel? 7. Give some important measurements for assessing marketing effectiveness. 8. Distinguish between a sales price variance and a sales volume variance. 9. Distinguish between a market size variance and a market share variance. 10. What are the relationships between a market size variance, a market share variance, a sales quantity variance, and a sales volume variance? 11. What is incentive compensation? What type of organization is best suited to incentive compensation plans? 12. What are the four guidelines for effective incentive compensation systems? Briefly discuss each. 13. There are four broad approaches to distributing the proceeds of a bonus pool in a profit-sharing plan: 1. Each person's share is based on her salary. 2. Each person receives an equal share. 3. Each person's share is based on his position in the organization (larger payments to people at higher levels). 4. Each person's share is based on individual performance. Required: a. For each of these alternatives, give 2 reasons to support that alternative. b. For each of these alternatives, give 2 reasons against that alternative. 14. Describe each of the following: a. cash bonus b. profit sharing c. gain sharing d. stock option plan When should an organization use of them?
Transcribed Image Text:1. Define productivity. 2. Why is it important for a firm that follows a strategy of being the cost leader to improve productivity? 3. What are the criteria often used to assess productivity? Give their advantages and disadvantages. 4. Distinguish between operational productivity and financial productivity. 5. Distinguish between partial productivity and total productivity. 6. Why is operational productivity measures preferred over financial productivity measures by manufacturing personnel? 7. Give some important measurements for assessing marketing effectiveness. 8. Distinguish between a sales price variance and a sales volume variance. 9. Distinguish between a market size variance and a market share variance. 10. What are the relationships between a market size variance, a market share variance, a sales quantity variance, and a sales volume variance? 11. What is incentive compensation? What type of organization is best suited to incentive compensation plans? 12. What are the four guidelines for effective incentive compensation systems? Briefly discuss each. 13. There are four broad approaches to distributing the proceeds of a bonus pool in a profit-sharing plan: 1. Each person's share is based on her salary. 2. Each person receives an equal share. 3. Each person's share is based on his position in the organization (larger payments to people at higher levels). 4. Each person's share is based on individual performance. Required: a. For each of these alternatives, give 2 reasons to support that alternative. b. For each of these alternatives, give 2 reasons against that alternative. 14. Describe each of the following: a. cash bonus b. profit sharing c. gain sharing d. stock option plan When should an organization use of them?
Expert Solution
steps

Step by step

Solved in 2 steps with 1 images

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Knowledge Booster
Balance Of Payment
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Recommended textbooks for you
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education
SEE MORE TEXTBOOKS