Answer: Material Efficiency
Explanation: Material Efficiency is concerned with the use of physical processes that uses less material to produce higher outputs using recycled materials thereby reducing wastes.
Material efficiency uses the strategy of re-manufacturing and modular manufacturing, reuse and recycling of product components, using less material in product designs and redesigning manufacturing processes to use less energy, less water and less raw materials.
Material efficiency help not only in reducing manufacturing costs but also in reducing wastes and associated costs.
Before starting a business, an entrepreneur should consider the following sacrifices: a. Professional b. Financial c. Personal d. All of these are correct.
Answer:
D. All of these are correct
Explanation:
Because truly before starting a business, an entrepreneur should consider the professional sacrifices as competence and expertise is a key factor in building an excellent business. Entrepreneurs need to have the know-how of their business or better still get able hands to handle it for them.
Setting up a Business would require some financial commitment. One which many atimes might not be convenient especially at the kick-off of the business. It's would a season of continuous investment not necessarily a season for profit making.
Personal sacrifice would be heavily needed and hence must be considered. Before starting a business, you must consider the sleepless nights, forgone comfort, play time and certain discipline you must imbibe if growing the business is indeed what is desire.
Suppose a U.S. government program subsidizes the production of domestic sugar producers and places a tariff (tax) on the importation of sugar from other countries. This program________.
Answer:
helps the producers of sugar, but increase the opportunity cost of obtaining it
Explanation:
when government provide any subside on production , it actually help producer as it allow many benefit and reduce cost so ultimately domestic producer feel good to produce because of given subsidy. But meanwhile government introduce tariff and tax to limit import of that good from rest of world that actually increases the opportunity cost.
Dr. Andrew's system of practice for treating individuals with abnormalities relies heavily on the concepts of the unconscious mind, early development, and inhibited sexual impulses. Dr. Andrew is most likely to be a proponent of the _____ theory.
a. spiritual
b. social conflict
c. cognitive
d. psychanalytic
Option D
Dr. Andrew is most likely to be a proponent of the psychanalytic theory.
Explanation:Psychoanalytic psychoanalysts examine mental obstacles as rooted in the unconscious mind. Evident indications are begun by underlying (hidden) disorders. Psychoanalysis is generally employed to tackle distress and stress dysfunctions. The psychoanalytic action dawned on the clinical investigations and formulations of Freud.
Freud inferred that certain distressing occurrences were suppressed, or endured back from knowing consciousness. Psychoanalysis would be a long manner, suggesting many concourses with the psychoanalyst. The psychoanalyst practices numerous procedures as support for the client to improve shrewdness into their performance.
A strategic vision for a company__________
a. concerns management's view of how to transition the company's business model from where it is now to where it needs to be.
b. spells out how the company is going to get from where it is now to where it wants to go and when it is expected to arrive.
c. consists of thinking through what it will take to make the chosen strategy work as planned.
d. involves how fast to pursue the chosen strategy and reach the targeted levels of performance.
e. describes "where we are going" by delineating the course and direction management has charted for the company's future product-customer-market-technology focus.
Answer:
e. describes "where we are going" by delineating the course and direction management has charted for the company's future product-customer-market-technology focus.
Explanation:
The vision is how the company will shape the future. How is going to be in term of culture, place in the market and consumer view of the brand.
It is the idealistic foundation of the firm. Is the goal as pure as it can be.
Later, with mision and objective it will break down into smaller part to reach that greater the vision entails
A strategic vision for a company describes e. "where we are going" by delineating the course and direction management has charted for the company's future product-customer-market-technology focus.
Explanation:A strategic vision for a company is a clear, inspiring, and forward-looking statement that outlines the organization's long-term aspirations, goals, and desired future state. It serves as a guiding beacon, aligning the company's values and direction, and motivating employees to work collectively toward achieving the envisioned future success.
The vision for a company describes "where we are going" by delineating the course and direction management has charted for the company's future product-customer-market-technology focus. It spells out how the company is going to get from where it is now to where it wants to go and when it is expected to arrive. Additionally, it involves how fast to pursue the chosen strategy and reach the targeted levels of performance.
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The Constitution expressly grants which of the following powers to Congress? a. to receive ambassadors b. to appoint judges c. to abolish state boundaries d. to regulate interstate commerce
Answer:
d. to regulate interstate commerce
Explanation:
The United States Constitution has the commerce clause in Article 1 Section 8 which allows the Congress to control the commerce with other nations and among the states.
According to this clause, the Congress can regulate the commerce that takes place between states and because of that, the answer is that the Constitution expressly grants the power to regulate interstate commerce to Congress.
At Troysten Inc., a construction company, Edwin's job responsibilities include monitoring the work carried out by the company's site engineers. He is also responsible for ensuring that all the engineers are provided with ample guidance and supervision so that they can perform all the assigned tasks to the best of their ability. In the given scenario, Edwin's job is related to _____.
Answer:
management
Explanation:
Edwin can be classified as a middle manager because he is in charge of supervising and directing the work performed by the company's engineers.
The basic functions of management are:
planning: it is not stated, but I guess that Edwin participates in planning the daily and weekly activities performed by the engineers. organizing: Edwin organizes the tasks given to the engineers. staffing: it is not stated, but I guess that Edwin is in charge of requesting additional personal and helping in the selection process. leading: Edwin provides guidance to the engineers so they can work properly.controlling: Edwin controls the work done by the engineers.A certain firm believes in providing its employees the best facilities. It decides to serve imported and expensive Colombian coffee and a variety of continental cuisines in its cafeteria. In this scenario, the firm's decisions and beliefs pertain to the domain of:a. ethical responsibility. b. pensatory justice. c. codified law. d. free choice.
Answer:
d. free choice
Explanation:
Yes! it is true that some of the firms provides their workers very good and comfortable facilities to work on. In the scenario which is given in the question , that what the firm has decided an what it belief led to domain of free choice.
Because free choice which is also known as freedom of choice. In this one has given multiple choice and he/she has also given freedom to choose any of the multiple choice.
And we can see that the firm is also providing multiple varieties as well.
Felicita Brewery wants to add brown ale beer to its existing list of alcoholic products. The questions the company currently is asking itself are: What is the likely demand for the product? What impact would the new product probably have on total sales, profits, market share, and return on investment? How would the introduction of the product affect existing products? At what stage of new-product development process is this company? a Developmental stage b. Marketing stage c. Business analysis stage d, Screening stage
Answer:
Business analysis stage
Explanation:
New product development is a process of taking the advantage of existing market opportunities to introduce new products through invention ,innovation or modification of existing products.
To ensure the successful launching of a new products , series of steps are observed as guidelines so that non viable ideas can be dropped early.
One of the guidelines is business analysis which is about assessing the survival and the commercial value of the potential product through cost , revenue , market size and profit
Kingbird, Inc. issues $261,000, 10-year, 8% bonds at 98. Prepare the journal entry to record the sale of these bonds on March 1, 2022.
Answer:
Explanation:
The journal entry is shown below:
Cash A/c Dr $255,780 ($261,000 × 98%)
Discount on bonds payable A/c $5,220
To Bonds payable A/c $261,000
(Being the issuance of the bond is recorded)
We assume the par value is $100 but the bond is issued less than the par value i.e $98 so the difference would be debited to the discounts on bond payable
The journal entry to record the sale of the bonds would be: debit cash, debit discount on bonds payable, and credit bonds payable.
Explanation:The journal entry to record the sale of the bonds would be as follows:
Debit: Cash ($261,000 x 0.98) - $255,780 Debit: Discount on Bonds Payable ($261,000 - $255,780) - $5,220 Credit: Bonds Payable - $261,000
When Kingbird, Inc. issues bonds at a discount, the cash received is less than the face value of the bonds. The difference is recorded as a discount on bonds payable. In this case, the bonds were sold at 98% of their face value, which resulted in a discount.
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Which of the following activities is included in strategy implementation? A. Develop a strategy-supportive culture and create an effective organizational structure. B. Develop a SWOT Matrix C. Establish annual objectives and develop a vision statement. D. Redirect marketing efforts and prepare a vision statement. E. Motivate employees and establish a mission statement.
Explanation:
Option A: The organizational structure plays a major role creating success stories of the organization as well to run process in a smoother way.
Option B: SWOT analysis or matrix is a must that everyone has to do to identify Strength, weakness, opportunities and threats. This is one of the best self-analysis tools.
Option C: There should be short term goal and long term goal to carry forward in the right path which can also be termed as "annual objectives". Developing vision equally contributes to the activities in strategy implementation.
Option D: Valid pointer
Option E: Motivating employees is the best tool to bring success to the organization.
The General Agreement on Tariffs and Trade was a precursor to the World Trade Organization and provided a forum for tariff negotiations. True False
Answer:
True
Explanation:
The General Agreement on Tariffs and Trade (GATT) was introduced because of its principal function to allow trading without discrimination that is market are equally transacted within member nations.
For example: when a member country and its trading partners had agreed to reduce a tariff, that tariff cut will be automatically extended to every other GATT member.
These often managerial level decisions occur in situations in which a few established processes help to evaluate potential solutions, but not enough to lead to a definite recommendation decision
Semi structured Decisions are often managerial level decisions occur in situations in which a few established processes help to evaluate potential solutions, but not enough to lead to a definite recommendation decision.
Explanation:Decisions that are repetitive and follow a definite routine process refers to a structured decisions. Unstructured decisions are those that are not repetitive in nature and they are not in routine way. Semi structured decisions falls between these two categories of decisions.
In semi structured decisions, some judgment made by human and also some agreement on the method of solution is very essential. For instance, decisions that are related to the production or new products and decisions that are associated with making changes in the benefits that are attained by employees are ranging form unstructured decisions to semi structured decisions.
What are the three types of projects based on the amount of change involved?
Answer: The three types of projects based on the amount of change involved are 1. platform projects, 2. Derivative projects, 3. Break through projects.
Explanation:
1. Platform projects: A project involving basic changes in the existing products or services or in the methods in which products or services are made and delivered. The next generation of products for a company lies under these projects.
2. Derivative projects: A project involving additional or smaller changes in the product is consider to be derivative projects.
3. Break through projects: The common characteristics of breakthrough projects are to create and capture a new market opportunity, execution of an initiative which is challenging , and to achieve a particular results or outcomes that are unparalleled for the team or a company.
Which of the following statements about goods is FALSE? a. Goods-producing employees require strong technical and production skills. b. Goods-producing firms use physical inventory. c. Goods-producing firms focus on the flow of people, information, and services. d. Goods-producing facilities must be located close to raw materials, suppliers, and laborers.
The false statement about goods is that goods-producing firms focus on the flow of people, information, and services. This concept is more accurate for service-oriented firms.
Explanation:The statement among the options provided that is false about goods is 'Goods-producing firms focus on the flow of people, information, and services.' This statement is typically more applicable to service-oriented firms rather than goods-producing firms. Goods-producing firms do need to manage the flow of information, but their focus primarily lies on the manufacturing process, including the handling and transformation of physical materials and resources. Matters such as the flow of people or services are secondary to the core operation of producing goods.
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The statement 'Goods-producing firms focus on the flow of people, information, and services.' is false for goods-producing firms. These firms mainly focus on the production of physical goods rather than the interpersonal or informatic flow.
Explanation:Given the statements about goods, the statement 'Goods-producing firms focus on the flow of people, information, and services.' is FALSE. Goods-producing firms primarily focus on the production of physical items, and while they do need to manage people, information, and the services they use, their primary focus is not the flow of people, information, and services. This statement would be more accurate when describing service sector firms. Goods-producing firms include businesses that manufacture products, such as automobiles, furniture, or ice cream. These entities indeed use physical inventory, necessitate employees with technical and production skills. They typically need to be near raw materials, suppliers, and laborers since these all constitute essential inputs in their production process.
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Warrants exercisable at $20 each to obtain 10,000 shares of common stock were outstanding during a period when the average market price of the common stock was $25. Application of the treasury stock method for the assumed exercise of these warrants in computing diluted earnings per share will increase the weighted average number of outstanding common shares by:
Answer:
OUR ANSWER IS 2,000 SHARES
Explanation:
Application of treasury method is used for excising the warrants:
outstanding common shares =number of shares × excersiable price
market price
=10,000 shares × $20
$25
=8,000 shares
After the warrant have been excersied,the increase in weighted average number of outstanding common shares is as follows:
increase in weighted average} =10,000 shares -8,000 shares
number of shares }
= 2,000 shares
The weighted number of outstanding common shares by 2,000 shares
Organizations use ________ planning to determine what contributions the departments or work units can make toward the organization's strategic priorities and policies during the next 6 -- 24 months.
Organizations use Tactical planning to determine what contributions the departments or work units can make toward the organization's strategic priorities and policies during the next 6 -- 24 months.
Explanation:
Tactical planning is a precise ascertainment and scheduling of the paramount or short-term pursuits expected in fulfilling the aspirations of strategic planning. The tactical planning manner occurs in real-time, endeavoring short-term consequences. Possessing this methodology in point empowers the company to execute agile tactics to surpass within the corresponding sale.
In the tactical point, the business is reacting to urgent certainties. Tactical planning is abnormally frequent with performance-driven activities. Immobile job positions with recurring responsibilities like recording and making infrequently want a tactical plan because compatible is the most eminent state consequence in these job roles.
Suppose Juan has three job offers. He can earn $50,000 in Atlanta, GA; $70,000 in Boston, MA; or $100,000 in San Francisco, CA. If Juan wants to maximize the purchasing power of his income, which offer should he accept?
Answer:
To maximize the purchasing power of his income, Juand should accept the offert of Atlanta, GA.Explanation:
To answer this question you need the comparative costs of living in each of the trhee cities.
In a similar question, you can find the cost of iiving indexes for Atlanta, Boston, and San Francisco. Here is the table:
Cost of living index
City (100 = U.S. City average)
Atlanta, GA 98
Boston, MA 160
San Francisco, CA 245
Thus, to determine which offer Juan should accept to maximize the purchasing power of his income, divide each income by the cost of living index.
Atlanta, GA:
$50,000/98 = $510.20Boston, MA
$70,000/160 = $437.50San Francisco, CA
$100,000/245 = $408.16Rank the adjusted earnings in decreasing order:
$510.20 > $437.50 > $407.16Hence, in spite of the nominal earnings in Atlanta are the lowest, the higher cost of living indexes of the other cities, make that the offer from Atlanta the best one.
Juan should accept the job offer in San Francisco, CA to maximize his purchasing power.
Explanation:If Juan wants to maximize the purchasing power of his income, he should consider the cost of living in each city. One way to measure the cost of living is by using the concept of purchasing power parity (PPP). PPP takes into account the relative prices of goods and services in different locations and allows for a more accurate comparison of income across regions.
To calculate the purchasing power of Juan's income in each city, we can divide the salary by the cost of living index for that city. The cost of living index represents the relative cost of goods and services in a specific location compared to the national average, which is set at 100.
Let's assume the cost of living indexes for Atlanta, Boston, and San Francisco are 90, 120, and 150 respectively. To calculate the purchasing power of Juan's income in each city:
In Atlanta, his purchasing power would be $50,000 / 90 = $55555.56In Boston, his purchasing power would be $70,000 / 120 = $58333.33In San Francisco, his purchasing power would be $100,000 / 150 = $66666.67Therefore, if Juan wants to maximize his purchasing power, he should accept the job offer in San Francisco, CA as it offers the highest purchasing power of his income.
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An investor purchases one municipal bond and one corporate bond that pay rates of return of 4% and 5.5%, respectively. If the investor is in the 20% tax bracket, his after-tax rates of return on the municipal and corporate bonds would be, respectively, _____.
Answer:
After-tax rates of return on the municipal bond is 4%
After-tax rates of return on the corporate bond is 4.4%
Explanation:
given data
rates of return = 4% = 0.04
rates of return = 5.5% = 0.055
tax bracket = 20% = 0.20
solution
we get here After-tax rates of return on the municipal bond that is
and here no taxes are levied so
rates of return = return ( 1 - 0 )
rates of return = 0.04 (1 - 0)
rates of return = 0.04 or 4%
and now we get After-tax rates of return on the corporate bond
rates of return = 0.055 × (1 - 0.20)
rates of return = 0.044 or 4.4%
Tori Inc. has some material that originally cost $72,000. The material has a scrap value of $31,900 as is, but if reworked at a cost of $2,300, it could be sold for $32,600. What would be the incremental effect on the company's overall profit of reworking and selling the material rather than selling it as scrap?
Answer:
The answer is there will a loss of $1600 if the material is reworked rather than sold at scrap value.
Explanation:
Sales value of reworked material: $32,600
Less: Cost to rework material: $2,300
Net Sales Value: $30,300
Current Scrap Value: $31,900
Net loss : $1,600
($1,600)
Mary owns her own consulting business. Among her employees are: Sue—the receptionist and a single mother of three Joe—the web designer and marketing manager, single, has an MBA Alan—a married salesman who makes few sales and cares for an elderly parent Carla—an unmarried salesperson who makes the majority of the company’s salesAssume that Mary agrees with libertarian theories. All of the following are possible except:_____________--
Answer:
Mary would expect the government to tell her how to pay the employees.
Explanation:
The sales team at Rue and West Bros., a logistic company, has successfully met its target for profits specified last year. Upon its success, the CEO of the company set new targets for the sales team in the coming financial year. In this scenario, the sales team will move to the _____ stage of group development.
Answer:
The sales team will move to the Transforming stage of group development
Explanation:
Bruce Tuckman developed 5 stages of group development.
1) Forming Stage - In this stage the team required high degree of guidance from the manager also the role are unclear in this stage and processes are also not well established.
2) Storming Stage - In this stage the group starts understanding how team decisions are made and purposes in this stage are very clear but the team relationship need to be bonded yet.
3) Norming Stage - In this stage teams relationships starts to bond and understood by the group all members are committed to the team goals and starts trying to achieve it as a team.
4) Performing Stage - In this stage Teams are committed to perform well and the focuses are bends towards the strategies that are made by team to achieve goal and bound with little oversight.
5) Adjourning/ Transforming Stage- In this basically after achieving the goals/target team starts breaking up is known as Adjourning stage and the stage at which after achieving the goal the teams move forward to achieve goal and set new targets is known as Transforming stage.
Blue Inc., a highly profitable consumer goods manufacturing company, invests in a number of social responsibility initiatives that in turn generate profit for the company. Which feature of corporate and social performance is illustrated in the given scenario?
Answer:
Virtuous Circle
Explanation:
Virtuous circle occurs when one good events feeds on itself to improve business further. In the question, blue inc. invested in social responsibilities initiative (a good event) which on turn generated profits for the company (improved the business), probably by the event leading them to having more loyal customers.
It is a self propagating advantageous situation in which a successful solution or events leads to more desired results or success. It creates a positive feedback loop, creating goodwill with the customers.
Which of the following statements is true? Gross private domestic investment less depreciation is net private domestic investment. Gross private domestic investment divided by depreciation is net private domestic investment. Gross private domestic investment plus depreciation is net private domestic investment. Net private domestic investment less depreciation is gross private domestic investment.\
Answer:
Gross private domestic investment less depreciation is net private domestic investment.
Explanation:
Investment is addition to capital stock during a period of time. Depreciation is fall in value of fixed (capital) assets due to usage, wear & tear, obsolescence.
Gross Private Domestic Investment = Total addition to capital stock by private domestic sector, without accounting for depreciation of existing capital stock.
Net Private Domestic Investment = Addition to capital stock by private domestic sector, accounting for depreciation deduction of existing capital stock.
So, Gross Private Domestic Investment - Depreciation = Net Private Domestic Investment.
Over the past 30 years, the price of oil has been relatively unstable, fluctuating between $11.00 and well over $100 per barrel Which of the following potentially contributes to oil-price instability? Oil prices are relatively unstable because the income elasticity of demand for oil is negative the market for oil is relatively competitive OPEC has been successful in controlling the quantity of oil its members supply the demand for oil is elastic. the supply of oil is inelastic.
Answer:
The best answer here is; the market for oil is relatively competitive.
Explanation:
Prices for oil are determined by market supply which is affected by various elements.
Over the past 30 years, the price of oil has been relatively unstable, fluctuating between $11.00 and well over $100 per barrel Which of the following potentially contributes to oil-price instability is the market for oil is relatively competitive.
The instability of oil prices over the past 30 years can be attributed to several factors. One such factor is the influence of the Organization of Petroleum Exporting Countries (OPEC). According to economist John C. B. Cooper's research on price elasticities, OPEC's strategy of supply control is able to exert significant upward pressure on oil prices due to the inelastic demand for oil. This inelasticity implies that consumers' demand for oil does not change proportionately with changes in price, especially in the short run. As a result, OPEC has been successful in manipulating the market to increase profits.
Another factor contributing to oil price volatility is the nature of supply and demand dynamics. When prices are high, suppliers are motivated to enter the market or increase production. Conversely, when prices fall, as they did around 2015, suppliers exit the market, as seen with the decline of active drilling rigs in the U.S. This supply-side response to price changes can lead to rapid shifts in oil availability and consequently in prices. Additionally, global events and technological advancements rapidly alter the landscape of oil production and consumption, further contributing to price instability.
Hence, The market for oil is relatively competitive.
Use the following information to calculate GDP. You may calculate GDP from either the expenditure side or the income side of the accounts.
Government purchases of goods and services 3,200
Consumption 11,500
Compensation of employees 9,100
Business structures and equipment investment 1,500
Residential investment 500
R&D expenditures 200
Corporate profits 1,500
Rent 300
Interest 1,000
Proprietors income 200
Change in business inventories -100
Taxes on production and imports 2,000
Government transfer payments 1,800
Exports 1,500
Imports 2,000
Depreciation 2,000
Statistical discrepancy 200.
a. Calculate GDP
b. Calculate National Income.
Answer:
Explanation:
GDP formula :
GDP = consumption+ residential investment + change in business inventory+ business structure and equipment investment +government purchases of goods and services+ R$D expenditure+ export - import
Consumption 11,500
Residential investment 500
Change in business inventories -100
Business structures and equipment investment 1,500
Government purchases of goods and services 3,200
R&D expenditures 200
Corporate profits 1,500
Taxes on production and imports 2,000
GDP= 11500+500-100+1500+3200+200+1500-2000
= 16300
National income= GDP - depreciation
= 16300-2000
= 14300
How did the influential economist John Maynard Keynes explain his remark that though economics is an easy subject compared with the higher branches of philosophy or pure science, it is a subject at which few excel?
Answer:
B) Good economists must possess a rare combination of gifts.
Explanation:
Economics is a social science that focuses on studying scarcity. Since all resources are scarce, economics tries to determine how to allocate resources more efficiently in order to produce the most possible benefits. We are all economists whether we like it or not. When we spend our money (scarce resource) we try to get the largest benefit out of it, the same applies to our time. We decide to study for a test and get a good grade, or simply take a very long nap.
The problem with economics and all social science, is that they are not exact. There is no possible way a scientific research can be done that includes all the economy, there are simply too many billions of transactions and different combinations that it is impossible to do it. Some microeconomics studies can be carried out but only considering a single company or industry and few factors.
Economists must base their research upon past events and develop models that can predict future events. Sadly but true, even meteorologists have a higher percentage of correct predictions than economists.
The few good economists must be very good at math, history, politics, philosophy, psychology, developing abstract ideas and make them concrete ideas, and last but not least must be able to explain all of this to others and convince them.
The problem with applying economic models to the real world are the changing expectations of the general public (psychology and philosophy). One of my teachers had a great saying, "the mouth is the most sensitive organ in your body, but your pocket is by far the most sensitive part".
Susan used to work as a telemarketer, earning $25,000 per year. She gave up that job to start a catering business. In calculating the economic profit of her catering business, the $25,000 income that she gave up is counted as part of the catering firm's:
a. total revenue
b. implicit costs
c. explicit costs
d. marginal costs
Answer:
b. implicit costs
Explanation:
Implicit costs refer to opportunity costs. Opportunity cost refers to the monetary value of the options foregone when an individual opts for another option instead.
In the given case, Susan foregone $25000 per year which she was earlier making, in exchange for starting a new catering business. This depicts loss of opportunities foregone in the form of $25,000 income which she could've continued earning had she not decided to shift to catering business.
Thus, $25,000 denotes an implicit or indirect cost incurred for starting the catering business.
The $25,000 that Susan gave up from her previous job to start a catering business is considered an implicit cost when calculating her catering firm's economic profit.
Explanation:The $25,000 income that Susan gave up to start a catering business would be counted as part of the catering firm's implicit costs. Implicit costs are those costs that represent the opportunity costs of using resources owned by the firm for its current purpose rather than the next best alternative. In this case, the next best alternative for Susan was her job as a telemarketer, making $25,000. Therefore, when calculating the economic profit of her catering business, this foregone salary must be considered as an implicit cost. This means the correct answer to the question is b. implicit costs.
Middle managers spend most of their time a. on the telephone. b. managing inventory. c. in meetings. d. implementing plans of top managers. e. supervising production employees.
Answer:
D
Explanation:
Middle-level managers are accountable to carrying out the goals set by top management. They do so by setting goals for their departments and other business units. Middle managers can motivate and assist first-line managers to achieve business objectives. Middle managers may also communicate upward, by offering suggestions and feedback to top managers.
The central focus of the marketer's activities is to develop mutually beneficial relationships with customers and potential customers. If the marketer is able to convince the customer to buy the firm's products, then the customer's lifetime value to the firm is enhanced. Marketers also seek to encourage customers to _________________ the firm's products because that will ____________ the customer's lifetime value to the firm.
Which of the following terms/words best express what marketers should do to enhance a customer's lifetime value to the firm?
recommend; increase
Answer:Strong word-of-mouth communication about; increase.
Explanation: When a marketing organisation promote a mutually beneficial relationship with its customers it will help the customers to go ahead to market the company and its products with a strong word- of-mouth communication, the firm's products because that will increase the customer's lifetime value to the firm,this will help the firm to be more profitable and make more revenue now and in the future.
Which of the following statements concerning family businesses is correct?
1. Family members often work in the business but may not sit on the council.
2. Family businesses employ about 20 percent of America's total workforce.
3. Most top managers at family firms tend to stay in their positions much longer than those at nonfamily firms.
4. Family businesses plan for succession using a critical-point plan.
Answer:
3. Most top managers at family firms tend to stay in their positions much longer than those at nonfamily firms.
Explanation:
A key success factors in family firms is understanding the culture. This is usually the foundation of the business.
So when family members occupy a position, they tend to stay on much longer because they have intimate knowledge of the business and the goals and objectives are personal to them.
Also loyalty tends to play a part, family members have close relationships which are long-term.
The correct statement about family businesses is that family members may work in the business but might not be part of its council. Family businesses significantly contribute to job creation and come in various sizes. Unique challenges they face include succession planning and balancing family dynamics within a business environment.
The correct statement concerning family businesses is that family members often work in the business but may not sit on the council. This reflects the common structure of family-owned businesses where multiple generations collaborate, but not all family employees are involved in the governance or strategic decision-making processes of the business. Family businesses are a substantial part of the U.S. economy; while they come in various sizes, many operate on a small scale with fewer than 100 employees.
These businesses face unique challenges, such as planning for succession and navigating the complexities of family dynamics in a professional context. It is essential to note that family businesses can contribute significantly to job creation, representing 99.7 percent of all employer firms and generating a majority of net new jobs annually. However, it is a misconception to assume that family businesses employ about 20 percent of America's workforce, as the workforce distribution is much more varied.
Moreover, while many family firms may indeed have leadership that remains for extended periods, it is not universally accurate to state that most top managers at family firms stay longer than those at nonfamily firms. As for the planning of succession, family businesses often use a more personalized approach rather than a one-size-fits-all 'critical-point plan.'