An Enterprise Resource Planning System Has Which of the Following

question 43

Short Answer

An enterprise resource planning system has which of the following advantages over multiple independent functional systems?
A. Modifications can be made to each module without affecting other modules.
B. Increased responsiveness and flexibility while aiding in the decision-making process,
C. Increased amount of data redundancy since more than one module contains the same information.
D. Reduction in costs for implementation and training.

Distinguish between different costs associated with quality and identify strategies for managing them.

Discuss the evolution of quality management practices and standards, including ISO 9000, and understand the significance of conforming quality vs. target-oriented quality.

Understand the basic concepts of capital budgeting techniques including NPV, IRR, and payback method.

Apply the time value of money concept in evaluating investment opportunities.

---

Definitions:

External Equity

In compensation refers to comparisons made by employees to others employed by different organizations performing similar jobs.

Similar Jobs

Positions or roles within or across organizations that have comparable responsibilities, skills requirements, and levels of complexity.

External Inequity

A condition where employees perceive that their compensation is not fair compared to what people in similar positions in other organizations are earning.

Incentives

Motivators, often financial in nature, designed to encourage employees to achieve greater levels of performance or reach specific objectives.