Explain the Four Areas of Evaluation of a Training Program

question 7

Essay

Explain the four areas of evaluation of a training program.

Understand the concept and types of synergy and their implications for businesses.

Comprehend Porter's Generic Strategies and the variables of competitive advantage and scope.

Recognize the importance of brand loyalty and image in cost-leadership and differentiation strategies.

Identify examples of companies employing cost leadership and differentiation strategies.

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Definitions:

Job-Order Costing System

A costing system that assigns costs to specific production jobs, useful for customized orders.

Predetermined Overhead Rate

is a rate used to allocate manufacturing overhead to products, calculated before the accounting period based on estimated costs.

Manufacturing Departments

Units within a manufacturing organization, each specializing in a different stage or aspect of the production process.

Machine-Hours

A measure of the amount of time a machine is operated, used as a basis for allocating manufacturing overhead costs in some costing systems.