why there is need to allocate resources for research and development to producesteel more competitively
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Answer:
Explanation:
Liberalisation and Foreign Direct Investment have given a boost to the industry with the efforts of private entrepreneurs.
There is a need to allocate resources for research and development to produce steel more competitively.
We need to regularise the supply of energy and improve the infrastructure for better production
Under the GAAP, firms are required to expense research and development (R&D) in the year they are spent. For many firms, this leads to extensive volatility in profit and return calculations, and to an inadequate measure of assets or invested capital. The practice impacts
Cost of Goods Manufactured (COGM) Cost of Goods Manufactured, also known to as COGM, is a term used in managerial accounting that refers to a schedule or statement that shows the total production costs for a company during a specific period of time. and introduce new ones to its operations.
In small businesses, R&D tends to focus more on product improvement because of budget and cost limitations. Larger businesses may be able to dedicate more time and resources to R&D to introduce new products as well as improve existing ones
One way to allocate resources is by not having to allocate them at all. This isn’t as mystical as it might sound. It involves something far less magical and more practical, planning. By planning beforehand you can avoid bottlenecks that trap your resources when you need them most in the course of the project execution.
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