Procurement is an important aspect of production management.” Explain how an efficient procurement policy benefits an organization

Benefits of efficient procurement policy (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

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MAZIWA DAIRIES LTD Maziwa Dairies Ltd. processes and distributes milk and milk products. Ngure, the proprietor of the business inherited the business from his father. He is conversant with details of buying, advertising and depot management. Each one of his depot managers and branch staff meet once every two weeks to review progress on operations. Ngure visits each depot every 2 to 3 days each week to work and supervise the branch managers. Ngure is worried about communication and the level of motivation among the employees of the enterprise. He feels that at the fortnightly meetings he had held, all his mangers and staff listened carefully, but judging from their actions, he has begun to wonder whether they had understood what he said. Ngure has noted that many o his policies were not being strictly followed,. For instance, in the stores, he often had to re-write advertising messages, while in some of the depots, the employees were talking of joining a workers union. Managers and employees were quoted as saying that they did not know the intentions of their employer. They believed that they could do better if they had an opportunity to communicate with Mr. Ngure and his assistants at the head office. On his part, Ngure feels that many of his managers in the head office and in the depots as well as most of the employees are merely doing their job. They are not showing any real imagination or drive. He is also concerned that some of his best employees had quit and taken positions with a competitor. Mr. Ngure has approached a management consultant to advise him on the best way to motivate his staff and communicate better. Required: Identify and briefly explain the communication problems afflicting Maziwa Dairies Ltd. and suggest ways of solving the problems

Barriers to Communication From the narrations in the passage, it can be deduced that Maziwa Dairies Ltd is afflicted by the communication problems detailed below: (i) Lack of planning to communicate – good communication is not be chance. Clear thinking must precede talking or writing. Often people talk or write without clear thinking and without

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Various economic factors have forced firms to downsize their workforce.Explain the ways in which a manager may best manage a downsized workforce

WAYS IN WHICH A MANAGER MAY BEST MANAGE A DOWNSIZED WORKFORCE 1. Motivation – A leaner workforce implies greater responsibilities. A manager needs to therefore motivate employees to work harder and better. He should look into all the factors that motivate especially better remuneration and employee benefits and provide these to the employees. 2. Revise

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Motivation is fundamental to the task of management. Required:What is meant by the term ‘process theory’ of motivation?

Motivation is fundamental to the task of management. Many different theories have been presented on how management might motivate employees; Adams’ equity theory is an attempt to bring a more modern approach to the topic, based on the idea of distributive justice. (a) The process theory of motivation asks the question ‘How can people be

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Towards the end of an audit, it is common for the external auditor to seek a letter of representation (written representations) from the management of the client company.Required: Explain why auditors seek letters of representation

LETTER OF REPRESENTATION Auditors seek a letter of representation in order to obtain written audit evidence on matters that are material to the financial statements when other sufficient appropriate audit evidence cannot reasonably be expected to exist (ISA 580 ‗Management Representations‘).  Representations may be the only evidence, which can reasonably be expected to be available,

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Towards the end of an audit, it is common for the external auditor to seek a letter of representation (written representations) from the management of the client company. Required: Explain why it is important to discuss the content of the letter of representation at an early stage during the audit

Discussion of the content of the letter It is important to discuss the contents of the letter at an early stage because directors may disagree with what the auditors wish them to sign.  It is important in such cases for negotiations to take place and the letter to be redrafted until it is acceptable to

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Towards the end of an audit, it is common for the external auditor to seek a letter of representation (written representations) from the management of the client company. Required: List the matters commonly included in the letter of representation

Common categories of matters included in the letter of representation  Confirmation of responsibility for, and approval of, the financial statements.  Confirmation that all of the accounting records, and all related documentation (such as minutes of management and shareholder meetings) have been made available, and that company transactions have been properly reflected therein.  Confirmation of the

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Managerial Accounting November 2016 Past Paper

Managerial Accounting November 2016 Past Examination Question Paper – KNEC This Past Paper examination was examined by the Kenya National Examination Council (KNEC) and it applies to the following courses: Diploma in Supply Chain Management Diploma in Business Management Diploma in Co-operative Management Diploma in Human Resource Management Business Education Single and Group Certificate Examinations

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Commercial and administrative law – November 2018 Past Paper

Commercial and Administrative Law November 2018 Past Examination Question Paper – KNEC This Past Paper examination was examined by the Kenya National Examination Council (KNEC) and it applies to the following Certificate courses Diploma in Business Management Note: To easily navigate through the KNEC Past Examination Paper Pdf below, Mobile phone users are advised to

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