Cost Centres Are Organisational Units Where the Manager Is Deemed

question 1

True/False

Cost centres are organisational units where the manager is deemed responsible for the costs of the unit.

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Definitions:

Strategic Business Unit

A division or unit within a larger company that focuses on a specific market segment or product line, operating with its own strategy and objectives.

Merit Pay

A salary increase awarded to employees based on their job performance, acting as a motivational tool by rewarding high performers.

Unit Performance

The measurement of the efficiency, effectiveness, and productivity of a specific department or operational unit within an organization.

Ownership Mentality

A mindset where employees view themselves as co-owners of the business, taking responsibility for its success and acting in its best interest.