Essential Academic Thinking and Writing Skills
1. Critical Thinking (130 words)
Critical thinking refers to a disciplined way of examining ideas, arguments, and situations before forming a judgment. It requires learners to observe attentively, gather relevant information, and analyze it objectively. Instead of accepting information at face value, a critical thinker questions assumptions, evaluates sources, and compares different viewpoints. The textbook states that critical thinking includes listening, observing, gathering data, and organizing
Read MoreMaximizing Business Performance: Identifying Waste and Key Metrics
Categorizing Organizational Waste (Muda)
Identifying Waste Across People, Process, Information, and Assets
| Type | Subtype | Definition |
|---|---|---|
| People | Goal Misalignment | Tasks not aligned with organizational goals. |
| Skills Misalignment | Employees working below their skill level. | |
| Time Waste (Idle Workers) | Workers waiting for instructions, materials, or tools. | |
| Lack of Training | Insufficient training causing inefficiencies. | |
| Process | Overprocessing | Adding unnecessary steps to a process. |
| Overproduction | Producing more than needed or earlier |
Marginal Costing, Break-Even Point & Contribution Analysis
Marginal Costing: Meaning, Features and Advantages
1. Meaning of Marginal Costing
Marginal costing is a costing technique in which only variable costs (direct materials, direct labour, variable overheads) are considered for product costing, while fixed costs are treated as period costs and charged directly to the Profit and Loss Account.
The marginal cost of a product refers to the additional cost incurred to produce one extra unit of output.
In formula form:
Marginal Cost = Prime Cost + Variable Overheads
Under
Read MoreMaterial Control, Inventory Pricing Methods & Costing
Meaning of Material Control
Material control refers to the systematic planning, purchasing, storing, and utilization of materials to ensure that the right quantity and quality of materials are available at the right time, place, and cost. It aims to regulate the flow of materials from the point of purchase to the point of consumption so that production runs smoothly without interruptions or excessive investment in inventory. Material control is an essential component of cost accounting as it directly
Read MoreEssential Professional Skills for Career Success
What Are Interviewing Skills?
Interviewing skills are the abilities that help a person present themselves confidently and effectively during an interview. These skills enable a candidate to communicate clearly, answer questions properly, and create a positive impression on the interviewer. Interviewing skills include communication, body language, listening, confidence, preparation, and professionalism.
Definition of Interviewing Skills
Interviewing skills can be defined as:
- The set of abilities that
Library Management Principles: HR, Finance, and Operations
Human Resources and Management (HRM)
Human Resources
Human Resources: Total manpower, categorized as Top, Middle, and Lower levels. These are living, dynamic, and skill-upgradable resources.
HRM Definition
HRM – Definition: Strategic and coherent management of people to achieve organizational goals.
Unit 13 – HRM Fundamentals
Need for HRM
- Learning and adaptability
- Organizational culture
- Innovation and growth
Purpose of HRM
- Survival and stability
- Quality services
- Competitive advantage
HRM Planning
- Strategic: