Variable Cost - 1729 Words

Cost management | Wilkerson Company Case | | 1. What is the competitive situation faced by Wilkerson? The competitive situation faced by Wilkerson is quite severe. Price cutting in its main product has led to a huge drop in profit. While price increase in another product line partially made up the loss. We will discuss the detailed situation line by line. (1) Valves It was the first product line developed by Wilkerson and its high quality brought it a loyal customer base. Even if several competitors could match Wilkerson’s quality in valves, none had tried to gain market share by cutting price. Therefore the competitive situation for valves was not so fierce that Wilkerson could maintain its gross margin. (2) Pumps†¦show more content†¦gineering $100,000 Providing engineering $100,000 Packaging and shipping $150,000 Packaging and shipping $150,000 # of shipments # of shipments Engineering hours Engineering hours Machine hours Machine hours # of production runs # of production runs # of production runs # of production runs Direct material Direct labour Direct material Direct labour Valves, Pumps, Flow Controllers Valves, Pumps, Flow Controllers (2) Activity-based cost driver rates Activity | cost | Cost driver | # of cost driver | Cost driver rate | Machine-related activities | 336,000 | Machine hours | 11,200 | 30 | Setting up machines | 40,000 | # of production runs | 160 | 250 | Receiving and controlling | 180,000 | # of production runs | 160 | 1,125 | Providing engineering | 100,000 | Engineering hours | 1,250 | 80 | Packaging and shipping | 150,000 | # of shipments | 300 | 500 | Summary of product lines’ overhead cost allocation | Valves | Pumps | Flow controllers | ABC overhead cost per unit | | | | Machine-related activities | 15.00 | 15.00 | 9.00 | Setting up machines | 0.33 | 1.00 | 6.25 | Receiving and controlling | 1.50 | 4.50 | 28.13 | Providing engineering | 2.67 | 2.40 | 12.50 | Packaging and shipping | 0.67 | 2.80 | 27.50 | Total | 20.17 | 25.70 | 83.38 | Summary of product lines’ cost and profitability in activity-based costing | Valves | Pumps | Flow controllers | Direct labor | 10.00 | 12.50 | 10.00 |Show MoreRelatedVariable Cost and Company1042 Words   |  5 PagesSection B Attempt Any Six Questions (6*5= 30) 1. Company A’s costs are mostly variable, whereas Company B’s costs are mostly fixed. When sales increase, which company will tend to realize the greatest increase in profits? Explain. 2. Crystal Telecom has budgeted the sales of its innovative mobile phone over the next four months as follows: Sales in Units July. . . . . . . . . . . . . . 30,000 August . . . . . . . . . . . 45,000 September . . . . . . . . 60,000 October . . . .Read MoreVariable Cost2976 Words   |  12 PagesDescribe the schedule of cost goods manufactured. How does it tie into the income statement? 5. Why are product costs sometimes called inventoriable costs? Describe the flow of such costs in a manufacturing company from the point of incurrence until they finally become expenses on the income statement. 6. Is it possible for costs such as salaries or depreciation to end up assets on the balance sheet? Explain. 7. â€Å"The variable cost per unit varies with output, whereas the fixed cost per unit is constantRead MoreHarrington: Cost and Variable Costs1062 Words   |  5 PagesFinancial Analysis While doing the financial analysis it is important to calculate the unit price first. Using the wholesale price rather than the retail price, the calculated unit price is $95. Next, we sum up the start-up costs and operating costs, both fixed and variable, and use these numbers to calculate the breakeven units. After calculation, the breakeven point is 289,846 units. Appendix A shows the details of our process. Active-wear sales are expected to double by 2009, and 40% of thoseRead MoreMidterm: Variable Cost1273 Words   |  6 PagesPrime cost. | B | Conversion cost. | C | Period cost. | D | Nonmanufacturing cost. | 2. | Prime cost and conversion cost share what common element of total cost? | A | Direct materials. | B | Direct labor. | C | Variable overhead. | D | Variable overhead. | 3. | On the Schedule of Cost of Goods Manufactured, the final Cost of Goods Manufactured figure represents: | A | the amount of cost charged to Work in Process during the period. | B | the amount of cost transferredRead MoreFixed or Variable Cost886 Words   |  4 PagesCost can be divided into fixed and variable and by considering into fact that fixed and variable cost can be unarguably split into two, even though they behave differently based on the level of sales of volumes. Since, cost is used in every field to determine the price of an item and the unit sold. Two of the main components of cost are fixed and variable cost and is used to differentiate between the costs that have no direct correlation to business and those that do. Definition:- Fixed cost isRead MoreThe Cost Of Variable Cost2557 Words   |  11 Pagestotal variable cost changed depending on the production whereas the total cost stays the same no matter how much a business sells whether it’d be thousands or none. Unlike a fixed cost, a variable cost can be much more difficult to budget, and may at times exceed the limits of the budget when the variable cost is related to an unexpected expense, and sometimes it can come to the stage where the limits of the budget can exceed due to the unexpected expenses rise. The advantages of Variable costingRead MoreDifference Between Product Revenue And Variable Cost1142 Words   |  5 PagesContribution margin is one of the vital tools utilized throughout the Capsim simulation and business operations in general. Bushong and Talbolt (2001) summarizes the contribution margin ratio as the difference between product revenue and variable cost, over variable cost. Recommendations under the Capsim simulation advised that groups maintained a contribution margin no less than 30% as this will aid in long-term business profitability and sustainability (Capsim, 2014). Through the successful understandingRead MoreComputer Equipment : Fixed Cost And Variable Cost804 Words   |  4 PagesExhibit 2 has fixed cost and variable cost both in the report. Other cost we need to look it is the opportunity of the purchased computer equipment which has a value of around $25,500. The lease computer equipment is cannot be cancelled, so we consider it a sunk cost and do not take it into consideration. Next, we need to look at the purpose of creating PDS. The purpose was to help deregulate PTC and rescind the push through of a rate increase. If they shutdown PDS, PTC would have to pay marketRead MoreTotal Variable Costs1408 Words   |  6 Pagespredict costs and manage them on a day-to-day basis, managers must identify: A. cost of resources used B. key activities and resources used to perform activities C. cost drivers D. all of the above 2. Cost drivers are ________. A. measures of activities that require the use of resources and thereby cause costs B. different types of functional areas in the firm C. different types of cost calculations D. the different functions in the value chain 3. Which of the following statements about costs is FALSERead MoreVariable Cost and Net Operating Income3885 Words   |  16 PagesASSIGNMENT P 6-16 , P6-17 PROBLEM 6-16 Variable and Absorption Costing Unit Product Costs and Income Statements; Explanation of Difference in Net Operating Income [LO1, LO2, LO3] Wiengot Antennas, Inc., produces and sells a unique type of TV antenna. The company has just opened a new plant to manufacture the antenna, and the following cost and revenue data have been provided for the first month of the plants operation in the form of a worksheet. Because the new antenna is unique in design, management

Essay on The Changing Role of the Supernatural in the Bible

The Changing Role of the Supernatural in the Bible - The changing role of the supernatural in the bible Almost every religious scripture references to experiences of supernatural phenomenon by holy men and women. The Bible is no exception .The bible in both forms The Exodus, the old Testamant and the Luke in the new Testament is concerned primarily with the existence of god , the nature of god, the relationship of god with his creratures , primarily humanity. Gods role in the history and creation of the world in essence in the Bible is about the supernatural , god being conceived as a supernatural deity separate and existing from the natural creation. The supernatural phenomena in the Bible are the actions taken by this†¦show more content†¦Moreover he id perceived as a jealous God and also a god of war. In another of his visions to Moses, God displays the desire to be the law giver, â€Å"I will execute judgment I am the lord†(Exodus, 12:12). A further example of god’s want to be obeyed as a ruler is anothe r vision to the people of Israel where god says â€Å"if you listen carefully to the voice of the Lord your god, and do what is right in his sight, and give heed to his commandments and keep all his status, I will not bring upon you the diseases I brought upon the Egyptians†, God is threatening the people to obey him. These supernatural visions are used to install fear in the hearts of the people. Not only do the supernatural phenomena embed fear in the hearts of the Israelites, god uses these supernatural phenomena to make the Egyptians undergo tremendous suffering. In Exodus 10.1 god tells Moses â€Å"go to the pharaoh I have made him obdurate, so that you can tell your children and grandchildren the story how I toyed with the Egyptians, and what signs I showed among them. Thus you will know I am he lord† Subsequently the exodus describes graphically Egyptians being made to suffer such horrifying trials such as he killing of all their firstborn, a pogrom executed with great precision and dexterity by biblical god personally who defines himself on the basis of these very acts of murder and infanticide. Therefore it is through such supernatural phenomena that fear of his prophet. The supernaturalShow MoreRelatedThe Creation Of The Universe, Religion, And Morals1481 Words   |  6 Pagesfuture life. Neanderthals might have had based this belief on some concept of the supernatural that was just, in fact, common natural occurrences. From the moment humans have attained a sense of finite existence they have attempted to give meaning to life. Humans have created gods to explain scientific phenomenons, rituals to bring good fortune, and burials to ease death. History has proven that with the changing of society, God or gods change as well to accommodate for the current people. DeitiesRead M oreThe Life Of Charles Dickens A Christmas Carol1062 Words   |  5 PagesThe Victorian Period lasted from 1832 to 1901 under Queen Victoria’s reign. The culture revealed in this era was a time of rapid change, social inequality, industrialization, supernatural and religious beliefs, and was accurately reflected in the works of Charles Dickens, A Christmas Carol. Roles of men and women were strictly defined, as were economic statuses. The hustle and bustle of the streets led to illnesses. Working conditions were destitute and unsanitary. Children often had little to noRead MoreThe Hero With A Thousand Faces1328 Words   |  6 PagesFaces Prologue – The Monomyth Myth and Dream Myths are universal and transcendent through time; many ancient myths are seen recreated in modern times. The author uses Oedipus as a way of comparing myth to psychology. Dreams have also played a major role in civilization; the people who could interpret dreams can understand and create myths. â€Å"Dream is the personalized myth† (19). Tragedy and Comedy People have always been fascinated with the tragedy and death of others. Tragedy is the realizingRead MoreWilliam Shakespeare s Othello And The English Language1649 Words   |  7 Pagesthroughout their lives. Also, his plays talk about social issues that humans still face in today s world as author Gill Stoker says â€Å"the social issues of Shakespeare s day which feature in the plays - class division, racism, sexuality, intolerance, the role and status of women, crime, war, death, disease - are still the burning issues in today s dysfunctional global society.† (Shakespeare: Our contemporary?). One of Shakespeare most beloved play is Rome and Juliet, considered to be one of the firstRead MoreEssay on Creation verses Evolution1388 Words   |  6 PagesCreationist’s believe in a supreme creator, who is responsible for the universe and everything natural that it contains. Creationists believe in Genesis to prove that evolutionists’ theories are false. Mostly everyone know the book they refer to The Holy Bible, and in the book of Geneses chapter 2 verse 19 â€Å"and out of the ground the Lord God formed every beast of the field, and every fowl of the air† is what the creationist whole true. Although evolution is seen throughout nature and proven by ancient fossilsRead MoreThe First Great Awakening And The Age Of Enlightenment1663 Words   |  7 Pagesmost influential writers and new light preachers was Jonathan Edwards. Edwards was born into an Orthodox family on October 5th, 1703, in the city of East Windsor, Connecticut. As a child, Jonathan Edwards had constant exposure to the teachings of the Bible and Christian theology, as well as having the opportunity to learn a variety of languages such as Greek and Latin (University). Throughout his childhood, Edwards received an adequate and excellent education from his father and ten sisters, so thatRead More Scarlet Critique Essay870 Words   |  4 PagesLetter including symbolism and irony. He emphasized the individuals role in the community and the role of women in society. Hawthorne used romanticism as opposed to the classical correctness of writing. Romanticism was an artistic and intellectual movement that originated in the 18th Century and stressed strong emotion and imagination. Puritanism was the belief that all humans are sinful and that it is only though God and the bible that one can find redemption. Hawthorne did not agree with their philosophyRead MoreSharing The Gospel Is Both Simple And Complicated. Listing1693 Words   |  7 Pagesalone without depending on denominational belief statements and Scripture as the only source of information. Not because I don’t value Scripture, but because some listeners have not yet learned to value the Bible as an authority and sacred text. That being said, if possible, I’d have a Bible handy and refer to specific Scriptures. I’d also expect the listener would be participating and my contribution wouldn’t be a monolog. What separates Christianity from other faiths and religions is that JesusRead MoreThe Pentecostal and Charismatic Movements and Speaking in Tongues3214 Words   |  13 PagesPentecostals and Charismatics†¦Ã¢â‚¬ ¦.†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦2 a. Brief History of the Pentecostal and Charismatic Movements†¦Ã¢â‚¬ ¦..†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.2-3 b. The Beliefs of the Pentecostals and Charismatics†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦..............3-5 III. The Bible and the Baptism in the Holy Spirit†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦..†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.†¦Ã¢â‚¬ ¦.....5 IV. The Bible and Gifts of the Holy Spirit†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦..6 V. Scholarly Perspectives on Speaking in Tongues †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦..7 a. Speaking in Tongues: A Reversal of the Babel Event at Pentecost†¦.†¦Ã¢â‚¬ ¦..7-8 b.Read MoreEssay on Miracles Happen Every Day2191 Words   |  9 PagesIntroduction Miracles are one of the most common reasons people reject Christianity. People do not believe they could happen and therefore claim other parts of the Bible and biblical story must be in error. Christians have been raised to believe the miracles of the Bible but is it actually logical to do so? God is a complex God and therefore speaks in complex ways, which are beyond human comprehension. Miracles are God conveying a message to his people through divine intervention. Whether it

It’s a Wonderful Life Free Essays

Frank Capra’s 1946 film It’s a Wonderful Life is considered one of the sentimental favorites of our time and a staple of the Christmas television season. The movie was considered something of a failure at the time, since it failed to earn a profit when stacked up against the expenses of filming. However, it is now recognized as one of the most important films made to date. We will write a custom essay sample on It’s a Wonderful Life or any similar topic only for you Order Now Part of the appeal may lie in the timing – the film’s initial release came on the heels of World War II. After years of bloodshed in Europe and Asia, the sentimentality of a hopeful Christmas story might have been what resonated with the American public. (A man, suicidal and depressed on Christmas Eve, is approached by an angel for a walk through the moments of his life – the classic â€Å"darkest before dawn† theme that has always struck a chord with audiences may have been especially poignant after the end finally came in the long war. Though the movie might have been considered a flop at the time, the small moments of beauty have helped it become an enduring classic, such as the little things that changed while George, the main character, was not living but busy walking down memory lane with Clarence the angel – the difference in the wind is appreciated not only by George, but by those in the audience. I would recommend this movie to friends or classmates; it is an important part of iconic cinematography and serves as both a forerunner and a counterpoint to some subsequent â€Å"modern classics†, such as American Beauty, a much more sinister film that nevertheless impresses upon its audience the importance of appreciating all the small blessings one has been given in life, no matter how dour the outlook might be at a particularly dark time. Because of its place in the collective consciousness, It’s a Wonderful Life definitely deserves a mention in the Top 25. How to cite It’s a Wonderful Life, Papers

Strategic Management for Industrial attractiveness- myassignmenthelp

Question: Evaluation of How the Theoretical Concepts Influences Strategic Management; The Case of Toyota Motor Corporation Answer: Industrial Attractiveness Industrial attractiveness can be said to be the ease and the weight of the risks that a company evaluates in venturing in to a business venture. The company will be in a position to base their attractiveness on the levels of competition among the companies that manufacture the same goods, their abilities to outdo them in the new venture the growing demands of the goods and services of the company. (Pulles et al., 2016, p.129). For the success of the company also, the management should be in a position to carry out need assessment and evaluation procedures so as they can provide the goods and services that the customers require. The services should as well be delivered with efficiency and they should be profitable. The Toyota vehicle company management has been held accountable for upholding their industrial attraction virtually in all parts of the world. The issue of industrial management has contributed to a great extent to the strategic management of the company. The company has been presented in the news for the last two years severally providing top quality vehicle designs. For these products, the company has been able to attract very many customers and compete very well in the market. The Toyota company has also obtained the competitive advantage over other companies. This has been as a result of the manufacturing, assembling and also servicing of their products. Innovativeness has taken a course in its market position. According to Porter (2013), Industrial attractiveness can take five (5) forces. These forces can also be used to show how the Toyota Motor Corporation industrial attractiveness, in terms of internal and external forces influence the strategic management practices. However, Toyota Motor Corporation remains at the top in the automotive industries. Competitive rivalry is among the strong forces for Toyota Motors Corporation. The factor shows how other firms producing the same type of product can affect the Toyota company. Some rivals in motor industries can be very aggressive in the market in terms of which company produces the best motors, which company has the best innovations and the company which is best in marketing (Chen, Liu Wu, 2016, p.2145). However, the researches have shown that Toyota competes with very few firms producing motors such as Volkswagen, general motors, Ford, Nissan and Hyundai. Threat of substitute is another factor, the Toyota company can be threatened by the customers needs which may result to desire of a substitute may be because of the economic factors or marketing and manufacturing factors of quality and value. Buyer power regards the ability of the consumers or the customers to purchase the product. The industrial attractiveness can diminish if the Toyota company produces Other forces like barriers of entry and supplier power are internal forces that affect the attractiveness of the industry on the basis of the industry to supply its product and extend its market. Toyota motor corporation has to evaluate these forces and make strategic management based on them to achieve industrial attractiveness. Competitive advantage Competitive advantage is the attribute attached to an organization or the company that makes it to outdo other companies which it is competing with. Toyota motor company is among the companies that has shown efficiency in competitive market (Krishnaswamy, 2017, p.106). In the year 2015, the company was ranked the first in the sales of motor vehicles with more than $16 Billion, $18.7 Billion in 2016 which is more than double for the competitors like Volkswagen, ford, Nissan and General motors. The competitive advantage of the Toyota can be attributed to both the internal and external factors. For the external factors, the company is situated in Japan. Japan is the second country after USA in terms of Gross Domestic Production (GDP) (Ikegami Wang, 2016, p.767). The country is the third in terms of Automotive motor industries in the world. The external factors in this country gives potential for the development of this corporation. The country also has been able to use the vehicles which are produced in the country. The country does not import the motor products from other countries. For this reason, the Toyota company gets more avenues starting from the country and thus getting to a position to expand the market to the outside world and compete all other motor companies in other countries like Hyundai in South Korea and Ford in United States of America. The internal factors boosting the company and placing high competitive position are for example, meeting the aspect of time through innovations, affordability of the motor products such as vehicles of all classes, boat engines and other IT and biotechnology motor products. The diversification of its products offers it a very strong market for all of these products. For achieving this status in the competitive market, the company management has influenced strategic management practices in the company. For the Toyota corporation the strategic management, the customers, suppliers, the products and the competitors as well as marketing, technology and business strategy aspects must be considered in in the Corporation management plan. For instance, the customers plan can be aimed at focusing on provision of more valuable motor products. The management must always seek in their strategic plans on the changing market condition, the response of their customers and seeing if the customers are replacing the products with the others (Davis, 2017, p.05). The products will influence the strategic management too. The products from the Toyota Corporation can become obsolete if the management practices can fail to look on issues like the innovations and technological development. The products from the Toyota corporation are of moderate prices, but the competitors can offer lower prices and advertise their similar goods with lower price. The Toyota company can only lower the product price also so as the consumer or the customer does not replace the product with another brand. Resource based view The Resource based View is a tool in Economics that can be applied to determine the available resources, the available capabilities and competencies in a business firm. The resources, capabilities and competencies aims at achieving competitive advantage and the Industrial attractiveness (Wu Chiu, 2015, p.25). In this theory, there are some points in analysis of RBV of an organization such as Toyota Corporation. One of them is based on identifying the key resources in a firm. For instance, the Toyota Corporation has been in a position to acquire all the needed manufacturing material for their industries. The corporation is also based in a very good economic country which can be able to support the motor industries in Japan. The company also have enough workforce skilled with the newest technology and with the legendary knowledge of the Toyota Corporation. The man power, the technological machinery and a suitable economy in Japan provides the company with good capabilities and compete ncies for enabling it being on top in the market (De Stefano, Montes-Sancho Busch, 2016). Another factor in understanding and examining the RBV is the issue of VRIN criteria based on Value, Rare, Imperfectly Imitable and Non-substitutable. Toyota Corporation products are valuable, the company manufactures high value motor products like cars. Other competitors neither have such brands of products nor easily implement same manufactural products as Toyota. The products from the corporation can also not be substituted easily by other companies because its peculiar. Finally, all the resources that pass these evaluations are maintained so as to enlarge the companys boarders of marketing (Lin Wu, 2014, p.407). Recommendations that would enhance strategic management in Toyota Motors Corporation For the strategic Management in Toyota Motors Corporation, I would recommend setting the goals and objectives for the corporation. Setting a goal helps in clarifying of the vision the company aims to meet. This is in terms of short, medium and long term goals. For instance, the corporation can seek to set a goal in producing a new model of vehicles, on policy amendments to fit the prevailing customer demands or on the sales and profit estimate for the year. Regular assessment of the customers need can also enhance the strategic management. The reason for this is to make sure that the customer is provided with the desirable products and that he/she can acquire. It can be in terms of price or any other consumer related elements. Assessing the customers need will avoid market shift for the company as the customer will substitute the product for another. Another recommendation is that, the Toyota Motor Corporation should study the market and appraise its industrial attractiveness through offering high quality and valuable motor products. This will assist the corporation in meeting a competitive advantage among its competitors. Through industrial attractiveness the trade name will be known for quality and value and the corporation will have more customers over its competitors. References Chen, Y. M., Liu, H. H., Wu, H. Y. (2016). Reputation for toughness and anti-dumping rebuttals: competitive rivalry, perceived benefits, and stage of the product life cycle. Journal of Business Research, 69(6), 2145-2150. Davis, P. J. (2017). How HR can create competitive advantage for the firm: Applying the principles of resource-based theory. Human Resource Management International Digest, 25(2), 4-6. De Stefano, M. C., Montes-Sancho, M. J., Busch, T. (2016). A natural resource-based view of climate change: Innovation challenges in the automobile industry. Journal of Cleaner Production, 139, 1436-1448. Hines, P. (2016). Toyota supplier system in Japan and the UK. In Developments in Logistics and Supply Chain Management (pp. 113-124). Palgrave Macmillan UK. Ikegami, M., Wang, Z. (2016). The long-run causal relationship between electricity consumption and real GDP: Evidence from Japan and Germany. Journal of Policy Modeling, 38(5), 767-784. Krishnaswamy, S. (2017). Sources of Sustainable Competitive Advantage: A Study Industry Outlook. St. Theresa Journal of Humanities and Social Sciences, 3(1). Lin, Y., Wu, L. Y. (2014). Exploring the role of dynamic capabilities in firm performance under the resource-based view framework. Journal of business research, 67(3), 407-413. Pulles, N. J., Schiele, H., Veldman, J., Httinger, L. (2016). The impact of customer attractiveness and supplier satisfaction on becoming a preferred customer. Industrial marketing management, 54, 129-140. Wu, L., Chiu, M. L. (2015). Organizational applications of IT innovation and firm's competitive performance: A resource-based view and the innovation diffusion approach. Journal of Engineering and Technology Management, 35, 25-44.