Explain Benchmarking and Scanning a Technology

question 24

Essay

Explain benchmarking and scanning a technology. Bring out the differences between them.

Understand the sequence of steps in the accounting cycle from transaction analysis to preparation of financial statements.

Learn the purpose and creation of the end-of-period spreadsheet (work sheet) and its components.

Comprehend the effect of net income or loss on the balance sheet and income statement preparation from an end-of-period spreadsheet.

Understand the concept of differentiation strategy and its importance in achieving competitive advantage.

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Definitions:

Supportive Training Climate

An organizational environment that encourages continuous learning and development, supporting employees to enhance their skills and knowledge.

Encourage

To inspire with courage, spirit, or confidence; to stimulate by assistance, approval, or instruction.

Training Opportunities

Programs or courses offered by an employer or educational institutions to help employees gain new skills or improve existing ones.

Personnel Doctrine

A set of beliefs, practices, and policies used to manage human resources in an organization, guiding the recruitment, employment, and development of staff.