Explain Why Many Companies Use Enterprise Resource Planning (ERP)software

question 22

Essay

Explain why many companies use enterprise resource planning (ERP)software.

Understand the differences between formal and informal career-counseling programs.

Describe the process and steps involved in a career-planning system.

Identify and explain the legal considerations in performance appraisal systems.

Understand and describe the management-by-objectives (MBO) method of performance appraisal.

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Definitions:

Mixed Cost

A cost that contains both fixed and variable components and changes in total with the level of activity, but not proportionately.

Variable Cost

Expenses that change in proportion to the activity of a business, such as production volume or units sold.

Fixed Cost

Costs that remain constant regardless of the amount of goods produced or sold, like lease payments or employee wages.

Variable Costs

Costs that change in proportion to the good or service that a business produces.