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Legacy costs is a term formed by analogy with the computer industry's legacy systems. Legacy costs are those incurred by an organization (whether corporation or city ) in prior years under different leadership or when the entity's priorities and resources were different.
Total cost of ownership (TCO) is a financial estimate intended to help buyers and owners determine the direct and indirect costs of a product or service. It is a management accounting concept that can be used in full cost accounting or even ecological economics where it includes social costs .
Legacy preference or legacy admission is a preference given by an institution or organization to certain applicants on the basis of their familial relationship to alumni of that institution. It is most controversial in college admissions, [3] where students so admitted are referred to as legacies or legacy students.
California Gov. Gavin Newsom announced a ban on legacy preference in admissions at all private schools in the state, including Stanford and USC.
A business process, business method, or business function is a collection of related, structured activities or tasks performed by people or equipment in which a specific sequence produces a service or product (that serves a particular business goal) for a particular customer or customers. Business processes occur at all organizational levels ...
Ting noted that a Harvard study last fall found legacy admissions was a major factor in why Ivy League and other elite universities were more than twice as likely to admit students from high ...
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