UA - ReFIRMation
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The presentation outlines the restructuring of the University of Alabama's PRSSA student agency, called Capstone Agency. It discusses researching successful agency models, planning an organizational structure with six specialized departments, implementing the new structure, and evaluating its impact. The restructuring process increased membership, created leadership opportunities for students, and allowed the agency to provide more tailored client services through departmental specialization. The new structure strengthened the agency's national affiliation and helped members gain real-world experience for career development.
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1.) In the short run, some costs are fixed and cannot be changed, such as capital and technology. Explicit costs that can be varied include variable costs like wages.
2.) There are two views of total costs - the accounting view includes explicit costs plus depreciation, while the economic view includes all explicit and implicit opportunity costs.
3.) Implicit costs include forgone earnings, depreciation, and normal profit. Economic profit is calculated as total revenue minus total costs (explicit and implicit). Accounting profit only considers explicit costs and depreciation.
The cost of production/Chapter 7(pindyck)
content
•MEASURING COST: WHICH COSTS MATTER?
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•Fixed versus sunk cost
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•Marginal cost
•Average cost
•Determinants of short run cost
•Diminishing marginal returns
•The shapes of cost curves
•The Average–Marginal Relationship
•Costs in a long run
•Cost minimizing input choices
•Isocost lines
•Marginal rate of technical substitution
•Expansion path
•The Inflexibility of Short-Run Production
•Long run average cost
•Economies and Diseconomies of Scale
•The Relationship Between Short-Run and Long-Run Cost
•Break even analysis
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Introduction to objective, scope and outcome the subject
Chapter 2
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Surveying: Object Principles & Types of Surveying; Site Plans, Plans & Maps; Scales & Unit of different Measurements.
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- 1. ReFIRMation: Restructuring for Greater Success The University of Alabama @CapstoneAgency CapstoneAgency.org
- 2. Jacquie McMahon, Firm Director Christi Rich, UA PRSSA President
- 3. Presentation Overview • • • • • • History Research Planning: The Six Departments Implementation and Transition Evaluation Closing
- 4. Agency History • • • • • 2008: First communication plan 2009: Approved as student organization 2011: Record-breaking membership number 2012-2013: Restructuring process Today:
- 5. National Affiliation • Capstone Agency: Approved June 2012 • Process • Standards remind members of professionalism and accountability • Strengthened our national involvement with PRSSA
- 6. Research • 2012 National Conference GolinHarris’ g4 model
- 8. The Departments • • • • • • Account Services Creative Digital Media Relations Public Relations/New Business Insights
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- 12. Member Recruitment • Class visits by PRSSA Executive Board and Capstone Agency Directors • Week-long Twitter chat “#CapstoneIS” • Recruitment posters
- 13. Awards • At the end of last semester, each director gave their outstanding team member(s) an award. • This November, we are planning an Awards Banquet in conjunction with a PRSSA workshop.
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- 15. Evaluation
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- 17. Student Benefits • Résumé and portfolio building experiences • See all aspects of an agency come together for results • Specialize in one area early on • Experience to draw off during interviews
- 18. Client Benefits • Efficient process with the point of contact in the agency (AE/AAE) • In-depth work tailored to clients’ needs due to specialization
- 19. Member Evaluations • Occur each semester • Sense of accountability and engagement • Express interest in leadership opportunities
- 20. Closing
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- 22. Moving Forward • Wider range of clients • Increasing the competitive nature of our firm • Continuing to encourage student success “If a firm isn’t growing, it’s dying.”
- 23. The Process 1. 2. 3. 4. 5. Research of real firms Research member interests Determine departments Create written plan Host awards ceremony Tailor to your campus!
- 24. Q&A Jacquie McMahon, @jacqmcmahon Christi Rich, @christi_rich More questions? Contact CapstoneAgency.UA@gmail.com