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The Basic Purpose of Directing Is to Evaluate the Success

question 37

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The basic purpose of directing is to evaluate the success of the planning function.

Be aware of the strategic significance of innovations in product delivery.
Recognize the difference between internal and external customers and utilities.
Understand the difference between operational effectiveness and strategic positioning.
Understand and calculate manufacturing cycle efficiency (MCE).

Definitions:

User Costs

The costs incurred by using an asset or resource, including depreciation, maintenance, and opportunity cost of capital.

Nonrenewable Resource

Natural resources such as coal, oil, and natural gas that cannot be replenished within a human lifetime once consumed.

Mining Firm

A company involved in the extraction of minerals, ores, and other geological materials from the earth.

Renewable Resource

A natural resource that can be replenished at the same rate or faster than it is consumed, such as solar energy, wind, or timber.

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