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Essay / Research Paper Abstract
This 7-page paper examines accounting methods with the theory of constraints and determines if traditional accounting methods are effective. Bibliography lists 3 sources.
Page Count:
7 pages (~225 words per page)
File: D0_MTtheocons.rtf
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Unformatted sample text from the term paper:
design and manufacture, and the end, in which the project is finished and ready to leave the project line. At one time, the idea behind a project was just to
push it through the line and make corrections on the other end if there were flaws. However, when the concept of total
quality began permeating through the business culture, so did the idea that flaws could perhaps be corrected at their source. This gave rise to the Theory of Constraints, also known
as TOC. The concept, developed by Eliyaho Goldratt in his book The Goal took the idea of the fact that the breaking point of any chain is its weakest link
(Focused Performance, 2005). In other words, if a system is going to achieve any kind of improvement, the constraint (i.e., the weak link) needs to be determined and addressed (Focused
Performance, 2005). Even if other aspects of the project perform well above level, the entire project, and therefore, the goal, will be held up because of that one constraint (Focused
Performance, 2005). Traditional Decision Making and the Cost Traditional decision-making takes into account bottom-line figures. In other words, a certain amount
of supply and inventory moves into a particular project, then goes through and ends up with the finished project. In a standard manufacturing system, this would work out well.
But as well see with TOC, traditional decision-making doesnt necessarily fit with theories of constraint. The reason is because traditional decision-making tends to
be linear. It moves from beginning, to middle, to end. If a mistake is at the end, then, and only then, can it be traced back to its source.
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