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Cost-oriented Pricing
No full textPre-printAlthough in practice, there are many ways of arriving at a price, these can be reduced for simplicity to two basic methods namely, cost-oriented and demand-oriented price determination. Cost-oriented pricing is typical in the real world. Accounting systems can estimate or accumulate the costs of doing particular tasks and profit – and – loss statements show very clearly that all costs should be covered. Costs provide a floor which prices cannot go (for long anywhere) and it is only logical that prices should be built on seemingly precise cost data.
Cost-oriented pricing is not as simple or full-proof as it might seem at first glance. The analytical tools presented can improve cost-oriented pricing but management judgment is still required. Price determination is a serious matter that deserves careful study. The discussion shall begin by examining how most firms, including retailers and wholesalers set oriented prices
Impact of innovation on firm competitiveness in the milling industry in Zimbabwe – A case study of National Foods Limited. (2005 – 2010)
No full textThe universal conclusion from literature on innovation and competitiveness is that innovation results in competitiveness. Yet no matter how many innovation strategies a firm implement, if the firm does not deal with impediments to successful innovations, it can not enjoy competitiveness. This research is an assessment of the impact of innovation on firm competitiveness in the Milling industry in Zimbabwe. The research was centred on a single case study design of National Foods Limited. The objectives of this study included examining the link between innovation and competitiveness; determining whether competition is a powerful incentive for National Foods Limited to innovate, whilst at the same time assessing whether National Foods Limited has the appropriate conditions to utilise their innovations into competitiveness. The researcher also established the benefits that are brought about by innovations at National Foods Limited.
Pragmatic data was collected through face-to-face interviews with middle and senior management who hold strategic and operational positions in the organization. Respondents included nine middle managers; seven senior managers; six departmental heads; and three directors. In-depth information was gathered from the respondents through the use of unstructured questions. The researcher used a qualitative research philosophy. The gathered data was analysed through Data Displays in the form of charts and content analytic summary tables. The findings of the study were that, there is a strong link between National Foods Limited‟s innovation and competitiveness. National Foods Limited failed to successfully enjoy the competitiveness that is supposed to be derived from innovation due to management‟s failure to manage change and poor communication of innovation strategies, as well as failure to adequately budget for and fund innovations. Hindrances also played their part; these included critical skills flight; failure to recognize and reward new ideas and entrepreneurship; lack of management commitment and nonalignment of innovation to overall organizational strategy. Based on these findings, the recommendations of this study are that National Foods Limited management should negotiate with public policy makers for flexible and favourable policies. It is also recommended that National Foods Limited should manage change in the best possible way or even engage outside agents to help manage change; make adequate budget provisions and funding for innovations; and implement policies that enable retaining of critical skills
The relationship between the Big Three Personality Factors and Graduate Trainees’ Job Performance
No full textThe study investigated the relationship between the Big Three Personality factors (Extroversion, Neuroticism and Psychoticism) and Revenue Trainee’s Job Performance. The Alpha coefficients for the Extroversion subscale (= 0.37) and the Psychoticsm subscale (=0.47) were, however, found to be below the conventional standard of 0.70 and no further analysis was performed on them. Only the Neuroticism subscale had a reliable Alpha coefficient of 0.78. Specifically then, the study assessed the link between neuroticism and job performance in its two forms, namely, task and contextual performance. One hundred and ninety three revenue trainees whose age ranged from.... to ... ... and a mean age of 24.90 (n=71 females and n=122 males) participated in the first session of the study but owing to the reduced response rate by mentors (60.10%), one hundred and sixteen revenue trainees with a mean age 25.29 (n= 46 females and n=70 males) candidates eventually participated in both sessions of the study. Data collected were analyzed using the Pearson Correlation. A positive correlation was found between high emotional stability and contextual performance (r= 0.247) and low negative correlation was found between emotional stability and task performance (r=-0.009). One Way Analysis of Variance indicated that (i) emotional stability had no statistically significant influence on task performance (F=.008, p>.927). This means there was no significant difference on the task performance of revenue trainees with low and high emotional stability, (iii) emotional stability had a statistically significant influence on contextual job performance (F=7.401, p.110) suggesting that there was no significant difference on the overall job performance of revenue trainees with low and high emotional stability. This study partially confirmed previous research studies and replication of the study with personality instruments with revised reliability levels should assist to ascertain the authenticity of the above findings
Faculty Development Workshop Summary Notes 26-28 July 2011
No full textUniversity of Zimbabwe, College of Health Sciences under the NECTAR programme conducted a three day Faculty Development training workshop. The workshop which was facilitated by Associate Professor Eva Aagaard, Professor Nancy Madinger, and Dr. Jake Gray from the University of Colorado Denver, USA recorded an average of 50 participants on a daily basis. The objective of the workshop was to introduce and acquaint participants to basic knowledge on: Curriculum Development;
Team Based Learning; Bedside Clinical Teaching and Lecture methods. The workshop was officially
opened by Professor Midion Chidzonga, the current Dean of the College of Health Sciences. The workshop was conducted in sessions with each of the 3 instructors facilitating specific sessions. This report is a summary of how the workshop unfolded
