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A S.W.O.T. analysis is not necessary if the firm is considering entering an established market that is already served by competitors.
Predetermined Overhead Rate
A calculated rate used to allocate manufacturing overhead costs to products based on a specific activity basis, such as labor hours or machine hours.
Machine-Hours
A calculation of activity or production volume, taking into account the length of time machines are in use.
Direct Labor-Hours
The total hours of work contributed by employees who are directly involved in the manufacturing or production process.
Forming
The first stage in group development, characterized by members' initial coming together, getting acquainted, and exploring the boundaries of the group.
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