Leadership Approach Paper †Behavioral Approach Essay Example

Leadership Approach Paper – Behavioral Approach Paper Leadership Approach Paper – Organizations depend on the management and leadership skills of individuals in order to be successful. Leaders do not have to be managers but are equally important. Leaders are individuals who possess traits, behavior and abilities to influence others to accomplish tasks and other needed objectives for the company. Leadership is defined as â€Å"the ability of an individual to influence, motivate, and enable others to contribute toward the effectiveness and success of the organization. . . .† (House et al. , 1999, pg. 184). According to Yuki, G. 2010) there are five different leadership approaches that are being researched. These five approaches are: 1. Trait approach 2. Behavior approach 3. Power-influence approach 4. Situational approach 5. Integrative approach This paper analyzes the behavioral approach and includes strengths and weaknesses of that approach as well as an example of this leadership approach used in an organization. Behavior al leadership approach The behavioral approach started in the early 1950’s due to the discouragement of researchers with the trait approach. This approach focuses on the behavior of leaders and the way they â€Å"did† and accomplished tasks. Different patterns of behavior were grouped together and labeled as styles. This became a very popular activity within management training – perhaps the best known being Blake and Mouton’s Managerial Grid (1964; 1978)† (Doyle Smith, 2011). The four main styles in regard to the behavioral approach research by Doyle Smith 2011 are: concern for the task, concern for the people, directive leadership and participative leadership. Personal example of use of this leadership approach Looking at all five different approaches of leadership styles, the behavioral approach is the one approach I am personally most familiar with. Other than traits of people, behavior can be learned. The learning capability of this approach is the biggest advantage and strengths present. A person can change behaviors and learn new ones which lead directly into the weaknesses of this approach. It is a not an easy task to change behavior, especially if a person is not interested in change. This is approach seems to best fit my personal leadership approach. Looking back at my previous employment as a financial associate at Boone County National Bank, I can relate to the definition of the behavioral approach. I was always concerned about given tasks and people. We will write a custom essay sample on Leadership Approach Paper – Behavioral Approach specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Leadership Approach Paper – Behavioral Approach specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Leadership Approach Paper – Behavioral Approach specifically for you FOR ONLY $16.38 $13.9/page Hire Writer My behavior influenced others to follow and start behaving the same way I did. A great example is the way I used to deal with my customers. I was friendly, concerned with their business and ensured that they were well taken care of. By being concerned and open minded, I completed sales and other branch needed tasks without pushing or forcing myself on someone. With a combination of traits and behavior me and my colleagues made a great team and were able to complete all tasks on time, efficiently and effectively as well as satisfy all of our customers and managers. Looking back over the accomplishments of the branch I worked in as well as my personal accomplishments, I feel proud of what I have helped accomplish. Conclusion Understanding the difference between effective management and effective leadership is important. Leaders are not always born leaders; they can be formed into leaders if that is what they want. All five leadership approaches combined would form the perfect leader but each individual has special traits and behaviors that can make one into a leader. The behavioral approach is one of the few approaches that can be learned and it is amazing what a difference in behavior can do for someone. Reference Doyle, M. E. , Smith, M. K. (2011, December 01). Classical Leadership. Retrieved from http://http://www. infed. org/leadership/traditional_leadership. htm House et al (1999), Leadership definition, pg. 184 Retrieved from https://ecampus. phoenix. edu/content/eBookLibrary2/content/eReader. aspx#biblio01_331 Yukin, G. (2010) Leadership in organizations (7th ed. ), chapter 1.

Politics by other means essays

Politics by other means essays In 1990 a new political theory began being argued. It was based upon the idea that elections had become supplanted by other forms of political conflict between contending interests. The 2000 election was the first true fit to this new theory. The post-election, the 5 week period between the times the voters went to the polls and when the Supreme Court ultimately decided the winner. It can be argued that the election was actually less important and represented less than the court case which directly followed the election. Ginsburg and Shefter began their argument by recognizing that American politics had undergone another transformation in the historical line of its existence. They suggested that competitors in the political process no longer sought victory by solely out-mobilizing their opponents in the political arena. Rather, the participants sought to rely on institutional weapons of political struggle as legislative investigations, media revelations, and judicial proceedings to weaken their political rivals and gain power for themselves. They blame this transition on the electoral process and not the combatants. From the 1930s to the 1060s, political power was dependant on winning elections. The powers of the past, such as the Democratic majority enjoyed by Andrew Jackson, the post-Civil War Republican majority, and the Democratic coalition of Roosevelt, owed its authority and power to the voters alone. These coalitions were controlled by self-interested parties which carried across racial boundaries. Once the issues of race and civil rights came to the forefront of American politics in the 1960s, these alliances soon feel apart. There were two parties of equal ability that emerged from the break-up of Roosevelts New Deal coalition. Democrats represented the ideas of organized labor, racial minorities, government employees, and middle class liberals. The...

Asymmetric information and market disequilibrium Essay

Asymmetric information and market disequilibrium - Essay Example Evidences state that asymmetric information has resulted in adverse selection and under provision or lack of trade (Cawley & Philipson, 1999, p.827). In the real markets cases often arise when the seller knows more about the product being traded than the buyers. As for example in case of second hand car market, the seller knows more about the car than the buyer. It may be the other way round also where the buyer posses more information than the sellers as for example in insurance market, the buyers of the insurance usually is more aware about their risks than the insurance company selling them the insurance. Labor market can be considered as another case where a labor trying to get a job is more aware of the fact that how able he is or she in convincing the employer to bag the job (Economics of organization, slide 4-6). The market of used car will be used as a model where the asymmetric information leads to the absence of trade in that market. The prediction of the conditions for the used cars is very hard to estimate. Various parameters to judge the conditions may be appearance of the car, existence of otherwise of a guarantee with the car, date of manufacturing and so on. But here the assumption will be that the buyer has only two sets of expectations or information in his mind that is the car is either good or the car is bad. The potential buyer also does not have the determination power of the condition of the car in ex ante situation (Economics of organization, slide 6). The seller is well informed about the condition of the car. If the car is in bad condition, the seller does not have the incentive to reveal the fact (Asymmetric Information, n.d). The willingness of the seller to sell a product is expressed in terms of reservation price. The reservation price of the seller is the price that the seller would accept for the object (Adverse Selection, n.d., p. 1) and it depends obviously on whether the car is good or bad. The reservation price of the seller is provided in the table below: Reservation Price Good condition Bad Condition $ 10, 000 6,000 Table 1. Similarly the buyers also evaluate the condition of the car which is also their reservation price (Onuma, n.d., p. 3). Now common information available to everyone is that half the sellers are selling good cars and half the sellers are selling bad cars. The reservation price of the buyer is provided in the table below: Reservation Price Good condition Bad Condition $ 11,000 7,000 Conjecture of the buyer In case of a risk neutral buyer the maximum amount he or she willing to pay for a used car is given in the expectation calculation of the buyer as given by, , Where E (B) = Expected buying price & probability of half of the sellers selling bad cars= probability of half of the sellers selling good cars= Now if the buyer gets to know about the reservation price of the seller, then he or she will work out the price calculation and will accordingly find that at the price only the selle r of the bad car will be willing to sell the car because the sellers of only bad car’s reservation price is above $ 9,000 and the seller of the good cars’

Health of children living in poverty in hong kong Essay

Health of children living in poverty in hong kong - Essay Example Acording to statistics in 2005, a family of three took home $8,000 while that of four and two earned a low income of $9,800 and $6,400 respectivley. Analysts have intimated that the growing disparity between the rich and the poor is one of the greatest contributor to the poor education levels of the children in Hong Kong as there is no possibility of bridging it to make things better. In essence, the rich only associate with the rich while the poor have no option other than to keep by themselves meaning that it is a continuing cycle of poor education access for the poverty stricken because they cannot free themselves from it. According to the General Household survey of 2012 (89), a significant percentage of the population above 15 years and less than 65 is economically inactive in Hong Kong hence explaining the high levels of poverty in the region. The statistics also shows that Sha tin, Kwai Tsing, Kwun Tong, Wong Tai Sin, Yuen Long, and Tuen Mun are the principle districts in Hong Kong that have continued to register high numbers of poor households. Ideally, child poverty tends to have an effect on the feeding of the same in that it creates malnutrition for those affected by the scourge because these children cannot afford to feed properly as per the nutrition requirements. Most of the children drop out of school because they have to fend fro themselves rather than study because their parents cannot afford to put them through school. Other than this, children living in poverty tend to have self-esteem issues as they tend to feel marginalized and humiliated because of their non-desirable financial status hence making them to avoid going to school(Ngo 2013). Poor health and poverty also means that these children are likely to fail attending school because they are forced to help their parents in fending especially those from single parent households.. On other the other hand,

Friendships in Of Mice and Men Essay Example for Free

Friendships in Of Mice and Men Essay Throughout life, one establishes friendships to better ensure their future. The novel Of Mice And Men, written by John Steinbeck, is about a group of traveling labor workers and the hardships that they overcome. The friendship between George, one of the main characters, and Lenny, a retarded man and of Candy, a crippled man, and his old dog, although different, they each share many of the same feelings toward each other. Also, by establishing these friendships, each partner is benefited and is given life motivation. However, all good things must come to an end, and when each partner is separated from their companion, their significant bonds are broken. Because of their established friendships, George, Lenny, Candy and his dog are able to live happy lives filled with joyous and exciting times. Throughout the book, many feelings are expressed between the relationship of George and Lenny and of Candy and his dog. Ever since they had lived together, George and Lenny loved and cared for each other every waiting day. Because [they] [had] each other, George and Lenny became more loving and compassionate, not just towards themselves, but also towards others (104). Unlike the other traveling workers who journeyed alone, George and Lenny were together, fighting off the hardships of The Great Depression with a loving relationship. This bond kept each others hearts pure and refrained them from turning bitter. Ever since Candys dog was a puppy, he and Candy had shared a trustworthy connection filled with loyalty for each other. In Candys younger years of life, when his partner was a good sheep dog, they had started a trusting relationship, which they carried out throughout the rest of their lives (24). Since Candy had his pup ever since it was born, Candy was its only master. Because canines are extremely loyal to their master, this loyal bond was able to flourish. Finally, because Lenny has been with George all his life, he feels a bond of trust between them and is completely loyal to George. During their early years, when George wasnt so kind to Lenny, he could have told Lenny to walk over a cliff and over hed go (40). Although George never did something this cruel, he did do some grueling things. He even got Lenny into fights. However, as time went on, he too became loyal and a trusting relationship grew. Even though these partners are very different, they still share many of the same feelings towards each other. In the relationship of George and Lenny and of Candy and his dog, each partner gains something and this is the motivation for the friendship. Because of Lennys mental state, as he travels with, and becomes friends with, George, he benefits by having a guardian to follow him around and keep him safe. Ever since they were young, Lenny just come along with George, and from that day forward he benefited from Georges safety (40). Lenny is retarded and his mind cannot process enough useful information to allow him to live a successful life, contributing to society. If George had not allowed Lenny to travel with him then Lenny would either end up homeless, in prison, or dead. In addition, because Candys dog is now useless, he benefits off Candy by receiving a guardian to protect him and guide him through the rest of his life. Although he had been an excellent canine in his day, because he aint no good to anyone now, his life would be futile if he did not have a guide for his remaining years. However, Candy did not care for him entirely out of kindness, he too benefits from their relationship. Because Candy is a cripple, he wants to feel like he is needed, and having someone that depends on him, allows Candy to live a joyous life. Although Lenny does not have much to give, George still benefits off their friendship by receiving a loyal companion to accompany him on his journeys. Because [they] travel together, George does not have to be burdened with the loneliness that could drive a man insane. George observes the other traveling labor workers become hard and lonely because they have nobody to converse with on their journeys. Although he benefits from their relationship, George pays dearly with his guardianship over Lenny. By establishing these relationships, each partner is benefited and given life motiv ation. Both the friendship of George and Lenny and of Candy and his dog lose their significant bonds when the partners are separated. Because Candy and his dog provide companionship for each other, when his dog dies Candy is left alone and unstable. Once his dog had been put up for the death sentence, Candy was left alone, pondering their wonderful memories together as he lied rigidly on his bed and stared at the ceiling (48). Candys purpose in life was now over, for he had no one that depended on him. Now the only thing that drove  him was the hope that Georges dream would come true, and that George, Lenny and he would get their own little plot of land. After George kills Lenny, although this was an act of kindness, George loses his purpose as a guardian. After he had pulled the trigger, George shivered and looked at the gun, for he knew that his guardianship was now over (106). George understood that it was his responsibility to kill Lenny. Although this act of kindness will burden him for the rest of his life, George still did the honorable thing. When Lenny died, George loses his dream of having a place of their own. By now, the dream had spread to more than just George and Lenny and when Lenny and their little place die away George becomes miserable and hurt (94). The time that followed this tragedy was the first time of Georges adult life with out Lenny. Also, up till now Georges purpose in life was to care for, and keep Lenny safe. With Lenny dead, George feels that his life had no purpose, for he could not keep Lenny from dangers grasp. When each friendship becomes separated, the still living partner feels no more purpose for life. Because of their established friendships, George, Lenny, Candy and his dog are able to live happy, joy filled lives as they overcome the hardships of The Great Depression. Although their significant bonds are broken when the partners are separated, when they are together, the partners benefit and share many feelings towards each other. Some say opposites attract, and buy using this scientific law to create friendships with different people; our society would be a friendlier and overall better place. Of Mice and Men by John Steinbeck New York : Covici-Friede, 1937

Terry Kays To Dance with the White Dog :: Dance White Dog Terry Kay Essays

Terry Kay's To Dance with the White Dog In the story To Dance with the White Dog, Sam’s daughters were constantly bothering him. Sam’s daughters thought that he could not do a single thing without them because their dad was getting older. Sam lost his wife of fifty-seven years, Cora, to a heart attack. Sam needed a companion, someone who could look at him and not think that he was losing his mind like his family did. One day Sam discovered a white dog running around his property. Sam did not want to support another stray dog like he did in the past. The white dog was something very special to him though. The white dog reminded Sam of a cute white fluffy dog that him and his wife had around the time they were first married. Sam’s daughters thought that the white dog was a figment of his imagination. White dog is real because of the physical evidence present from the time Sam discovered white dog to the time when white dog left him. Sam found white dog on the steps of his back porch licking up grease spots on the cement. Sam yelled at the white dog, â€Å"Get! Get!†(26). Sam then later saw strings of blood from where white dog was licking the cement. One night as well Sam fell on the floor in pain because of his hip. One of Sam’s daughters knew something was wrong because her father was never up that late at night. So, she sent her husband to check and see if everything was okay. When she looked out the window she saw the white dog running from the house with her own eyes. That was the first time that anyone was able to see the dog because white dog never went out of her way for anyone to see her until Sam was in desperate need of help. White dog would also run along the side of Sam’s truck to the graveyard to visit Cora’s final resting site. White dog was real because of her physically running after Sam’s truck. White dog was a special companion to Sam Peek. Sam was a lonely man and white dog kept him company. White dog was considered a figment of Sam’s imagination because no one could see her. There was physical evidence present that white dog was real.

Cost and Price Analysis

Cost and Price Analysis Instructor:Name: Class:Finance 230Date: Period:Results: 1)Why is it important for the government to exercise good fiscal judgment when spending funds? Government employees are held responsible for use of good judgment so those excessive prices are not paid. 2)List and describe four types of market based pricing. Be sure to provide at least one (1) example of each type. Competitive Offers – response to solicitation encouraging competing offers Established Catalog Price – Published by the seller in a regularly maintained catalog or price list Established Market Price – substantiated from sources independent of the seller: and are current sales prices established in the normal course of trade between buyers and sellers free to bargain in the market place. Established by Law or Regulation – customers are consistently impacted by the established prices. )List 3 reasons that government buyers have significant advantages in getting fair and reasonable prices. The government is the only buyer – which has a strong negotiating position on pricing. High volume purchase – suppliers like to deal with high volume buyers and are inclined to give better prices to such buyers. Anit-Deficiency Act – requires the government agencies have the money to pay for the contract work before signing the contract. 4)Compare and contrast cost, price and profit. Price refers to the amount of money that consumers have to give up to acquire goods or service. Profit is what ever monetary amount is left after all cost has been paid. 5)List and explain the two acceptable procedures for obtaining competitive prices. Sealed Bidding – A process by which government needs are made known by a solicitation called and Invitation for Bids (IFB). Negotiation is the contracting method that ma be used when sealed bidding is inappropriate. Competitive Proposals A process by which government needs are made known by a solicitation called a Request for Quotation (RFQ) 6)Compare and contrast cost and financial accounting. List two (2) examples each of conditions that warrant the use of cost and financial accounting procedures. Cost accounting – is a procedure which enables firms to keep track of the costs that apply to each individual contract or major task they under take. Ex cost acct. – estimate the cost of work before actually undertaking it. Financial accounting – is the accumulation of information that enables the firm to know how much total cost and profit they made in a particular period of time. Ex. 7)What are the three major classifications of costs? Reasonable, allowable, and allocable cost Variable fixed, and semi-variable cost Direct and indirect cost 8)Compare direct and indirect costs. Direct cost – direct labor, direct materials, and some other costs specifically associated with particular contracts are classified as direct costs. Indirect cost – are any cost that are not direct. Cost that apply across the board to large parts not conveniently chargeable to one particular contract. How does the government contracting officer ensure the costs are reasonable, allowable and allocable? Reasonable Cost – in its nature and amount, it does not exceed that which would be incurred by a prudent person in the conduct of a competitive business. Allowable Cost – allowability of a particular cost under cost principles must be determine using FAR Part 3. Each principle is based on laws and policies. The decision for determing allowable of a particular cost rest with the Contracting Officer. Allocable Costs – alloacable if I is assignable or chargeable to one or more cost objectives on the basis of relative benefits received or other equitable relationship. )When may certified cost or pricing data be required? The head of an agency shall require offerors, contractors, and subcontractors to make cost or pricing data available as follows: An offeror for a prime contract entered into using procedures other than sealed-bid procedures shall be required to submit cost or pricing data before the award of a contract if— in the case of a prime contract, the price of the contract to the is expected to exceed $500,000; and in the case of a prime contract entered into on or before, the price of the contract to the United States is expected to exceed $100,000. n the case of a change or modification made to a prime contract referred to in subparagraph the price adjustment is expected to exceed $500,000; in the case of a change or modification, to a prime contract that was entered , the price adjustment is expected to exceed $500,000; and in the case of a change or modification not covered by clause (i) or (ii), the price adjustment is expected to exceed $100,000. 10)If the government were to determine that significant overpricing occurred because of defective cost or pricing data, what options may the contracting officer explore prior to award? What may the contracting officer consider after award? The Truth in Negoatation Act – an examination of defective pricing in government contracting 11)Explain the level of importance associated with the detailed analysis of direct labor costs when determining a fixed-price contract. Price analysis shall be used when cost or pricing data are not required in determining the reasonableness of the prime contract price. Some firm-fixed-price contracts may entail substantially less cost risk than that of direct costs, such as material and labor, and associated indirect costs. 2)When determining proposed hourly wage rates, list three (3) options an offeror explore. Plantwide rate, Departmental Rate, and Rates by Labor Category 13)List, in comparison, what process improvements benefits realized from the learning curve and improvement curve. What are the expectations of each curve? Theroy called learning curve because it is belived thath learning workers caused most of the time saving, Studies showed that other factors, such as equipment and set-up improvements, also help reduce unit production time. It is called various names improvement curve, experience curve and time reduction curve. 14)How does a company effectively manage the overhead expense? What are the typical expenses included in overhead? Overhead expenses are those production and nonproduction costs not readily traceable to specific jobs or processes. Overhead expenses encompass three general areas: indirect materials, indirect labor, and all other miscellaneous production expenses, such as taxes, insurance, depreciation, supplies, utilities, and repairs. Therefore, overhead expense is part of the total costs of maintaining and staffing a business. 15)Categorize the following expenses as either Overhead or General & Administrative: a. Lease b. Entertainment Expense c. Travel Expense d. Payroll Expense e. Marketing Expense f. Mileage g. Professional Development h. Utilities i. Communications Expense j. Goodwill k. Research and Development Costs l. Taxes m. Patent Costs n. Bad Debts o. Lobbying and other Political Costs 16)The scrap allowance includes spoilage and shrinkage. List two (2) similarities and differences between the three categories. Scrape allowance is extra amount of material or parts required to be sure that enough material will be avaible to make the final product. Scrap is unadvoidable. Spoilage is a different from scrape because it is the direct result of someone making a mistake or a machine getting out of adjustment or a similar problem. Shrinkage is another factor. This can be the result of nature. 17)Explain the following concepts: a. Underabsorption under absorption is when the actual budgeted overhead is less than the planned overhead b. Overabsorption Occurrence of credit balance in factory-overhead account, resulting from excess of overhead applied to work-in-process inventory over the amount of overhead actually incurred. c. Exact Absorption The chances of absorbing the exact actual amount of overhead by a series of many customer billings throughout the year are nil. 18)Describe the following methods in conducting price analysis: a. Comparison of proposed prices received in response to the solicitation These methods consist of comparing offered prices to each other to decide which are reasonable b. Comparison of prior proposed prices and contract prices with current proposed prices Method most frequently used for government price analysis when agency has had a history of contracting for the same products or services. c. Comparison with competitive published price lists Catalogs are recognized as fairly reliable guides on current prices being paid by consumers in general. Established catalog or market price. The price paid for commercial items prices for items sold in substantial. Established catalog price, Established market price, and Price paid for Commercial items. . Visual Analysis FAR 5. 404-1(b) (4) says value analysis can give insight into the relative worth of a product, and government may use it in conjunction with other price analysis techniques. 20)Facilities cost of capital is allowable if the contractor's have which of the following: (a) Capital investment is measured, allocated to contracts and cost as required by CAS 414 (b) Contractor has adequate records to sho w compliance with CAS 414 (c) Estimated facilities capital cost of money is specifically proposed for the contract under which it is claimed (d) All of the above 1) Compare and contrast Distributed Facilities and Undistributed Facilities. Distributed facilities are those that are clearly and directly assigned to specific overhead or G accounts. Undistribute Facilities are facilities capital costs incurred for more than one indirect cost pool. The cost of these facilities must be allocated to the indirect cost pools that bebefit from them. 22) Facilities capital cost of money is an a. Allocatable cost b. Allowable cost c. Variable cost d. Imputed cost e. Both b and d 23). What does the acronym CASB mean in Facilities Capital Cost of Money a, Capital Accounting System Branch b. Cost Accounting Standards Board c. Cost Analysis Standards Board d. Both a & b 24) Which form is used to calculate the capital cost of money: a. Form CASB-CMF b. DD 1861 c. SF 182 d. All of the above. 25) In which (1) one of the three ways can a contract auditor assist the contracting officer in contract pricing? Reviewing and evaluating proposed or incurred costs 26) Contracting Officers will often ascertain that the contractor’s accounting system meets this requirement by commissioning a ______________________? Pre-award Survey of Prospective Contractor Accounting System ( PSPCAS) 27) Contract auditor is called on by a contracting officer to determine if the prospective contract meets what? Responsible financial capability standard of FAR 9. 104-1 28) What unsupported costs are proposed or incurred costs on which the auditor is unable to render an opinion? Regarding reasonable, allowability, or allocability. 29) What does the acronym DCAA mean? Defense contract Audit Agency 30) What is the total Cost Approach? How is it used? It shows all cost incurred in the original contract estimate and were the attributes to the contract were changed. It shows the government at fault and recognizes that neither the contractor nor any third party is at fault. 31) List the two principles that prevail in measuring equitable adjustment. Some cost impact must result from the contract change The contract and government are to remain whole. 32) Why is there a format for submitting proposals for equitable adjustments and when is it used. This formal procedures is a methodical way o document the calculation of the equitable adjustment. When contractors submit certified cost or pricing data if the expected value of the contract modification exceeds $650,00. 00. 33) What is the name of the formula that is widely used when computing unabsorbed overhead resulting from government caused delays? Eichleay Formula 34) How can contractors segregate the cost of performing changed work? They usually assign specials accounting codes to the transactions attributed to the changed work. 35) What is the main misconception about profit and fee? Negotiated profit or fee is what the contractor will actually get. 6) What three major requirements must government contracting officers adhere to according to the Contracting Officer Responsibilities (FAR 15. 404-4)? Profit fee Pre-negotiation objective, Facilities Capital Cost of Money, Statutory Limitations of Prices or Fees 37) Name six major factors bearing on profit levels for government contracts. Contractor Effort, Contract cost rack, Federal Socioeconomic programs, Capital Investmen ts, Cost Control and other Past Accomplishments, Independent Development. 38) What is the general approach used by all the structured profit systems. The structured profit systems establish a total profit objective by adding profit increments for various major cost inputs and for other contract factors. 39) What are the major categories listed under the approach of Profit Determination – Overhead? High skill supervision, clerical and support, depreciation or rent (complex) depreciation or rent (routine), fringe benefits administrative, routine expense, and total overhead costs. 40) List three important factors that every business must consider before doing business with the government.