Answer:
The correct answer is "Is information that is capable of making a difference in a business decision".
Explanation:
Relevance is the characteristic of the financial information of having a notorious, potential or real utility, for the purposes pursued by the different recipients of the financial information. Information is, therefore, relevant, when it is likely to influence user decision making. The relevance of an information implies that from its consideration differences can be established in a decision, helping users to make predictions about the consequences of past, present or future events, or to confirm or correct previous expectations.
Which of the following statements is true? A. The average product of labor tells us how much output changes as the quantity of workers hired changes. B. The average product of labor is at its maximum when the average product of labor equals the marginal product of labor. C. The average product of labor is at its minimum when the average product of labor equals the marginal product of labor. D. Whenever the marginal product of labor is greater than the average product of labor the average product of labor must be decreasing.
Final answer:
Statement B is true; the average product of labor peaks when it is equal to the marginal product of labor.
Explanation:
The correct statement is B: The average product of labor is at its maximum when the average product of labor equals the marginal product of labor. This occurs at the point where adding one more worker doesn't increase the average product per worker; before this point, the average product is increasing due to the addition of workers, and after this point, it starts to decrease. This scenario is a reflection of the Law of Diminishing Marginal Product, which indicates that beyond a certain point, adding additional workers will result in lesser increments of output due to limitations such as fixed capital.
According to the law of demand,
a. a decrease in price increases demand.
b. an increase in price decreases demand.
c. an increase in income increases demand.
d. a decrease in price increases quantity demanded.
Answer:
d. a decrease in price increases quantity demanded.
Explanation:
Law of demand: According to the law of demand, if the price of the good decreases, the quantity demanded would increase and vice versa. It shows an inverse relationship between price and quantity demanded. That's why its curve is always downward sloping
It effects the price and quantity demanded only and other things remain constant.
Accounts Receivable has a balance of $ 4 comma 000$4,000, and the Allowance for Bad Debts has a credit balance of $ 450$450. The allowance method is used. What is the net realizable value of Accounts Receivable after a $ 140$140 account receivable is written off?
Answer:
What is the net realizable value of Accounts Receivable after a $ 140$140 account receivable is written off? is $3550
Explanation:
Account receivable 4000
Allowance bad debts 450
Net realizable =(400-140)-(450-140)
=3860-310
=3550
A stamping machine begins turning out components that are out of tolerance. The manager removes the machine from service to ensure that more defective components are not produced and notifies maintenance to repair the machine. This is an example of ________.
A.immediate corrective actionB.basic corrective actionC.corporate governanceD.disciplinary actionE.benchmarking
Answer:
immediate corrective action
Explanation:
Based on the information provided within the question this seems to be an example of immediate corrective action. This is when an individual takes action in response to a problem as soon as the problem arises in order to fix it as fast as possible. This usually occurs as a kind of trigger reaction to that specific problem. Which is what is going on in this situation since they decided to immediately get the machine repaired as soon as the problem presented itself.
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Answer:
A.immediate corrective action
Explanation:
A stamping machine begins turning out components that are out of tolerance. The manager removes the machine from service to ensure that more defective components are not produced and notifies maintenance to repair the machine. This is an example of immediate corrective action.
Omega, Inc., a U.S.-based maker of personal fitness trackers, is not sure about the attractiveness of entering the country of Mattica. Mattica had recently emerged as a democracy after nearly one hundred years of dictatorship. Which of the following types of entry into Mattica would allow Omega, Inc. to learn about the foreign market while limiting the firm's exposure to that market?
A. early entry
B. small-scale entry
C. large-scale entry
D. late entry
E. rapid entry
Answer:
The correct answer is B. small-scale entry.
Explanation:
Small-scale entry allowing the company to learn about a foreign market while limiting the company's exposure in that market, reducing the risk associated with its international activity. Small-scale entry can be seen as a way to gather information about the market before deciding to invest more resources and increase its presence.
Managers should generally consider six variables when selecting the mode of entry:
Company objectives, such as desired performance, market share, or competitive positioning the resources and capabilities of the company (financial, organizational, technological, human, etc.) foreign market conditions, such as the legal, cultural, economic environment, as well as the level of development of local infrastructure the risks inherent in any type of mode of entry in relation to the company's objectives of achieving internationalization the type and degree of competitiveness that exists in the target markets (current and potential) the characteristics of the product or service that you want to introduce in the foreign market.Keith is a married, bilingual, African-American construction worker. Based on the organizational behavior model, this data represents which of the following to Keith's new employer?
A. Process
B.Exception
C.Outcomes
D.Inputs
E.Model
Answer:
D.Inputs
Explanation:
According to the information provided in the statements of the question, the following data represents the option (D) " inputs ".
The reason for the data being input is that the given data is the information provided for the new employer records that will be entered in the employer's database.
Thus, this data will work as an input for the database.
Final answer:
Keith's characteristics such as being married, bilingual, and an African-American construction worker represent inputs to his new employer in the organizational behavior model. Hence, the correct option is D.
Explanation:
In the context of the organizational behavior model, the information about Keith being a married, bilingual, African-American construction worker would represent inputs to his new employer. Inputs in organizational behavior are the contributions that individuals feel they are making to the environment, which can include personal characteristics, qualifications, experiences, and personal demographics. These inputs are an essential component of how individuals are perceived within an organization and contribute to the assessment of their potential to fulfill job roles and responsibilities.
Shaniqua s restaurant utilizes a contribution margin pricing system. She would like the selling price of a new menu item she is introducing to be $10.00. Her required contribution margin is $4.00. Her labor costs are 30%. What is the amount her kitchen staff can spend on product cost when making the item?
Answer:
Her kitchen Staff can spend up to $3.00 on product cost.
Explanation:
Selling price= $10.00
Margin= $4.00
Labor costs = $10.00*30% = $3.00
Selling Price = Contribition margin + Labor costs + Product Cost.
Isolating Product cost from the equation:
Product cost = Selling price - (Contribution margin + Labor costs)
Product cost = $ 10.00 - ($4.00 + $3.00)
Product cost = $ 10.00 - $7.00
Product cost = $ 3.00
The max. amount that kitchen staff can spend on product cost is: $ 3.00
A Subaru representative has a solid relationship with Phil, a satisfied customer. Phil loves Subaru and will not accept anything else. The representative determines that if Phil continues to do business with Subaru every time he wants to purchase a new car, his total value to the company would be $350,000. This includes purchases made by customers who were referred to the firm by Phil. The Subaru representative has calculated Phil's _______
Answer:
The correct answer would be, Customer's life time Value.
Explanation:
Subaru is an automobile company who is famous for its boxer engines in the cars above 1500 cc. Subaru is a division of Japanese transportation conglomerate.
A representative of Subaru has solid relationship with a customer, Phil. Phil is such a satisfied customer that he only wants Subaru every time he goes for a new purchase. Also he refers a lot of people to Subaru. The representative determines that if Phil continue to do so, his total value to the company would be $350,000. This figure includes Phil purchases as well as the purchases made by the people which he referred to Subaru. So this means, the representative has calculated the Phil's Lifetime Value.
The Subaru representative has calculated the lifetime value of a loyal customer named Phil, which includes his future purchases and referrals, emphasizing the importance of long-term customer relationships and a trustworthy reputation for business sustainability.
Explanation:The Subaru representative has calculated Phil's lifetime value to the company. This takes into account all the purchases Phil will make, as well as those made by customers who were referred to Subaru by Phil. A company's lifetime value calculation is an important metric for understanding the long-term benefits of maintaining a relationship with a customer, versus the short-term gains from a single transaction.
It also encourages businesses to deliver high-quality products and services, and to cultivate a trustworthy reputation, as this can lead to greater customer loyalty and referral business, ultimately supporting long-term profits and sustainability.
What are the factors used to measure the "multinationality" of a company? Multiple Choice
- Ratio of foreign sales to total sales
- Ratio of foreign sales to total assets
- Ratio of foreign employees to total employees
- All answers are correct
The multinationality of a company is measured by the ratio of foreign sales to total sales, the ratio of foreign employees to total employees, and the ratio of foreign assets to total assets, concluding that all presented answers are correct.
Explanation:The multinationality of a company can be measured using various factors that indicate the extent of a company's international activities compared to its total business. Three main factors are commonly used to gauge this:
The ratio of foreign sales to total sales, which shows what portion of a company's revenues comes from markets outside its home country.The ratio of foreign employees to total employees, indicating the proportion of the workforce that is based in other countries.The ratio of foreign assets to total assets, reflecting how much of the company's capital investment is held outside the home country.All of these metrics contribute to understanding a company's degree of globalization and international presence. Hence, the correct answer to the multiple-choice question is: 'All answers are correct.'
The process of gathering information about the competitive environment, including competitors' plans, activities, and products, to improve a company's ability to succeed is the definition of ________.
a. Feedback
b. Information
c. Competitive intelligence
d. Data
Answer:
(C) Competitive intelligence
Explanation:
Competitive intelligence
The main aim of competitive intelligence is to gives faster reaction to competitors.The sources of competitive intelligence is social media, business index in business magazine, one of the main source is open corporate.It ca be done by collecting the data of different organization, by analysis and reporting process
eakap, Inc., has current assets of $1,456,312 and total assets of $4,812,369 for the year ending September 30, 2006. It also has current liabilities of $1,041,012, common equity of $1,500,000, and retained earnings of $1,468,347. How much long-term debt does the firm have?
Answer:
How much long-term debt does the firm have? $803010
Explanation:
Current Assets 1456312
Total Assets 4812369
Current liabilities 1041012
Lont Term Debt 803010
Common Equity 1500000
reteined Earnings 1468347
2968347
ASSETS=LIABILITIES-EQUITY
4812369=1041012+long term debts+2968347
Lori reads three newspapers a day and is always reading a book in the evening. She has a high need to engage in thinking, and she actually enjoys it. She likes to complete crossword puzzles and do other types of word games. Lori has a high need for _____. a. cognition b.affection c. ethnocentrism d. uniqueness e. acceptance
Answer:
The correct answer is a. cognition.
Explanation:
The Need for Cognition (NC) refers to the motivation and preference that people show towards the activity of thinking (Cacioppo and Petty, 1982). Since people with high NC form and change their opinions through the detailed elaboration of information, their attitudes are usually relatively resistant to change.
Based on the activities of Lori described, it can be said that Lori has a high need for cognition.
What is high need for cognition?People who have a high need for cognition, enjoy parktaking in activities that require a high level of cogntion. These type of people engage in activities that require a lot of brainstorming such as solving puzzles and reading.
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Critical aspects of a successful investigation include thorough planning and preparation, efficient information management, a focus on effective communication, and a(n):
Answer:
an advanced role definition and delineation of responsibilities
Explanation:
According to my research on the investigation procedures, I can say that based on the information provided within the question the last thing missing would be an advanced role definition and delineation of responsibilities. This basically means assigning certain tasks and responsibilities to all those involved in order for the investigation to go smoothly and so that nobody causes interference in the other's task.
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Williams Company uses the weighted-average method in its process costing system. The Packaging Department started the month with 400 units in process that were 80% complete, receiving 3,000 units from the Cutting Department. The packaging department had 300 units in process at the end of the period that are 50% complete. All materials are added at the beginning of the process and conversion is added uniformly. From the Packaging Department, units are transferred to Finished Goods. For direct material, the equivalent units of production for the Finishing Department is
Final answer:
The equivalent units of production for direct material in Williams Company's Packaging Department, using the weighted-average method, would be the sum of the completed and transferred units, as well as the fully added materials in the ending inventory, totaling 3,400 equivalent units.
Explanation:
When calculating the equivalent units of production for direct material in the Packaging Department using the weighted-average method, it is important to account for both the units completed and transferred out of the department, as well as the units that are partially completed at the end of the period. Since all materials are added at the beginning of the process, the equivalent units for materials would be the same as the total units to be accounted for in the packaging process.
To calculate the equivalent units of production for direct materials, add the number of units transferred out to the equivalent units for the ending work in process inventory. In this case:
Units completed and transferred out: 3,100 units (400 units that were 80% complete plus 2,700 new units)
Equivalent units in ending inventory: 300 units at 50% completion for materials (since materials are added at the beginning, they are 100% complete even if the conversion is at 50%)
Total equivalent units for direct materials = Units transferred out + Equivalent units in ending inventory = 3,100 + 300 = 3,400 equivalent units for direct materials
Jyl, a supervisor, told her employees, "The store will close Monday for inventory. All employees are expected to participate." Jyl's communication to her employees is an example of upward communication.
a) true
b) flase
Answer: False
Explanation: Upward communication in an organisation refers to the dissemination of information from the subordinates to their superior. Such communication is done for transferring suggestions or complaints etc.
In the given case, Jyl, is the supervisor and is transferring an order and not any suggestion or complaint. Thus, the given case, is an example of downward communication.
Hence from the above we can conclude that the given statement is false.
The correct answer is false. Jyl's communication to her employees is not an example of upward communication
Upward communication in an organization is the transmission of information from the employees to the managers.
From the question, Jyl is a supervisor and was only giving out instructions to her employees, but Upward communication helps managers to know how employees feel about procedures, policies and other important areas of the business. Therefore, the correct answer is false.
Further ExplanationUpward communication is very essential in an organization because it provides an avenue for managers to understand how employees feel about their present job or work.
Upward communication is now widely used in different organizations as it’s gradually replacing the traditional way of communicating.
Many organizations also use upward communication in whistle-blowing policy as it allows the employee to communicate directly with the top hierarchy within an organization, particularly large organizations. In other words, upward communication is an effective tool in curbing corruption in organizations.
Also, upward communication has advantages and disadvantages.
Some of the advantages of upward communication include:
It promotes effective communication between the employees and the managersIt brings employees and managers closer to each other, that is, it promotes mutual trust between employees and managers.Disadvantages of upward communication include:
fear of inefficiencyindisciplinethe slow movement of informationTherefore, Jyl's communication to her employees is not an example of upward communication
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Which of the following illustrates one of the steps in the self-fulfilling prophecy process when a supervisor forms a high? https://brainly.com/question/14286274Alyssa's supervisor was so impressed by her work that he named her the employee of the month https://brainly.com/question/13947675KEYWORDS:
upward communicationmanagersemployeesjylinformationWhich of the following statements is(are) true?
I) Risk-averse investors reject investments that are fair games.
II) Risk-neutral investors judge risky investments only by the expected returns.
III) Risk-averse investors judge investments only by their riskiness.
IV) Risk-loving investors will not engage in fair games.
Answer: Statement 1 and 2
Explanation: Risk averse investors are investors that are more concerned about the risk of the investment rather than its returns. These investors funds those investment that have lower known risk with lower returns rather than one with unknown risk and higher returns.
On the other hand, risk neutral investors are those investors which do not care about the risk factor of an investment and are insensitive to the level of risk an investment have.
"" Alternate Outputs from One Day's Labor Input: USA: 12 bushels of wheat or 3 yards of textiles. India: 3 bushels of wheat or 12 yards of textiles. From the data, the USA:
Answer:
Has a competitive advantage in the production of wheat
Explanation:
The data of the outputs shows that the USA has the ability to produce 12 bushels of wheat or 3 yards of textil and the India has the ability to produce 3 bushels of wheat or 12 yards of textiles. Given this information we could say that the USA has a competitive advantage in the production of wheat and India has a competitive advantage in the production of textiles.
If the two countries start a commercial exchange they will benefit if they dedicate their production to the good in which they have the competitive advantage and exchange it for the good in which they are not so productive, that is:
USA trading (wheat) for India's textiles.
In that way they both can consume a greater amount of those two gods unlike if they produced and consumed without trading.
During the meeting Malcolm constantly reminds the rest of the team that he is in charge of this project, and it must be carried out according to the wishes of the Schumacker’s upper management so they can attract new clients. Malcolm seems to be drawing from which source of power?a. Legitimateb. Coercivec. Rewardd. Experte. Referent
Answer:
The correct answer is b) Coercive
Explanation:
The term Coercive refers to the use of force or power to influence someone, sometimes, through punishments. The government uses coercive power through the army to regulate a nation according to the norms and policies of the country. Malcolm is using coercive to make sure and show to the team that the project is handling by him.
b. Coercive
Further Explanation
Coercion is the practice of forcing others to behave spontaneously (either through action or inaction) by using threats, rewards, or intimidation or other forms of pressure or force. In law, coercion is codified as coercion. The act is used as an influence, forcing the victim to act the way she wants. Coercion may involve the actual suffering of physical pain/injury or psychological damage in order to increase the credibility of the threat. The threat of further damage can lead to cooperation or obedience to people who are forced. Torture is one of the most extreme examples of severe illness that is coercion that is caused until the victim provides the desired information.
Forced or compulsory labor is all work or services that are forced on anyone with any threat of punishment because that person does not voluntarily provide.
Debt-related slavery is one example of forced labor. We are forced to work far beyond capacity because we are unable to repay debts. As an example of farmers, by establishing a profit-sharing system (of course the lender gets far more than the borrower/farmer) the lender forces the farmer to work extra to pay off his debts.
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Grade: High School
Subject: Business
Keyword: coercive, labor, compulsory
Nicole owns and operates two restaurants. The revenue of the first restaurant at time t is f(t) dollars, and the revenue of the second restaurant at time t is g(t) dollars. What does the function F(t) = f(t) + g(t) represent?
Answer:
[tex]F(t)=f(t)+g(t)[/tex] represents the TOTAL revenue at time [tex]t[/tex].
Explanation:
[tex]f(t)[/tex] is the revenue at the time [tex]t[/tex] at the first restaurant.
[tex]g(t)[/tex] is the revenue at the time [tex]t[/tex] at the second restaurant.
If we want to know the TOTAL revenue at the time [tex]t[/tex], we would sum these quantities:
TOTAL revenue = [tex]f(t)+g(t)[/tex]
So [tex]F(t)=f(t)+g(t)[/tex] represents the TOTAL revenue at time [tex]t[/tex].
Excludability is the property of a good whereby
A. a person can be prevented from using it.
B. the resource is congestible.
C. the government rations the quantity of a good that is available.
D. one person's use diminishes other peoples' use.
Answer:
A. a person can be prevented from using it.
Explanation:
Excludability -
In economics , a good or service is refereed to as excludable , when it is not allowed to be consumed or used by the consumers who have not paid for the good or services .
And , similarly , non - excludable are the one when a non - paying consumer ca not be prevented from using it .
Hence , the correct statement for Excludability is ( a ) .
Excludability refers to the ability to prevent someone from using a good, which contrasts with non-excludable goods that anyone can use, such as public goods like national defense.
Explanation:The property of a good whereby a person can be prevented from using it is known as excludability. When a good is excludable, not everyone has access to it; typically, only those who pay for the good or service may use it. This is in contrast to non-excludable goods, where no one can be excluded and anyone can use the good or service, often without any charge.
Public goods are a common example of non-excludable and non-rival goods, meaning they are freely available to everyone and one person's use does not diminish another's opportunity to use it. For instance, national defense is a public good because it is both non-excludable, as it protects all citizens without the possibility of excluding anyone, and non-rival, since one person benefiting from national defense does not prevent others from also being protected.
Yaro Company owns 30% of the common stock of Dew Co. and uses the equity method to account for the investment. During 2018, Dew reported income of $250,000 and paid dividends of $80,000. There is no amortization associated with the investment. During 2018, how much income should Yaro recognize related to this investment?
Answer:
Investment Income= $75,000
Explanation:
Percentage of Stock Owned: 30%
Reported Income for 2018: $250,000
Investment Income: $250,000 x 30% = $75,000
Dividend Paid: $80,000 x 30% = $24,000
Of the $75,000 total income, $24,000 were paid as dividends and the rest remain as Dividend Receivable.
Tri Fecta, a partnership, had revenues of $367,000 in its first year of operations. The partnership has not collected on $45,800 of its sales and still owes $39,600 on $240,000 of merchandise it purchased. There was no inventory on hand at the end of the year. The partnership paid $26,200 in salaries. The partners invested $47,000 in the business and $26,000 was borrowed on a five-year note. The partnership paid $2,860 in interest that was the amount owed for the year and paid $9,300 for a two-year insurance policy on the first day of business. Ignore income taxes.
Compute the cash balance at the end of the first year for Tri Fecta.
a) $ 332,110
b) $ 161,640
c) $ 166,290
d) $ 155,440
Answer: $ 155,440
Explanation:
Receipt:
Cash received from customer(367,000 - 45,800) 321,200
Investment 47,000
Borrowed money 26,000
Total Receipts 394,200
Disbursement:
Payment to vendor(240,000 - 39,600) 200,400
Salary 26,200
Interest 2,860
Insurance policy 9,300
Total Disbursement (B) 238,760
Cash balance (A - B) 155,440
Q 1.6: Ginni founded Waggstooth Manor Doggie Day Care and, after a year in business, formed a partnership with her husband, Warren. Their friend, Phoebe, is a shareholder with Networth Bank. In terms of personal liability, who is at greater risk? Why?
Answer:
Both Ginni and Warren
Explanation:
Both Ginni and Warren, because both partners have unlimited personal liability. In any case of wimhich partner owns a larger percentage of the company, still both of them are equally liabile.
The price elasticity of demand for tickets to local baseball games is estimated to be equal to 0.89. In order to boost ticket revenues, an economist would advise:a. increasing the price of game tickets because demand is inelastic.b. not changing the price of game tickets because demand is unit elastic.c. increasing the price of game tickets because demand is elastic.d. decreasing the price of game tickets because demand is elastic.
Answer:
The correct answer is option a.
Explanation:
The price elasticity of demand for tickets to a baseball game is 0.89. This means that the demand is relatively inelastic.
Relatively inelastic demand means that a change in price will lead to a less than proportionate change in quantity demanded.
So at this point, if the price of tickets is increased, the decrease in price will be less than proportionate. This will lead to an increase in revenue and hence profits.
So to increase the revenue price of tickets should be increased.
Since the price elasticity of demand is 0.89 and indicates inelastic demand, the economist would advise increasing the price of game tickets to boost revenue.
The price elasticity of demand for tickets to local baseball games is 0.89, which is less than 1, indicating that the demand is inelastic. In such a case, an economist would advise increasing the price of game tickets to boost ticket revenues. This is because with inelastic demand, the percentage increase in price will result in a smaller percentage decrease in the quantity sold, leading to an increase in total revenue.
"" The theory of comparative advantage shows that the gains from international trade do not just result from the absolute advantage of producing at lower cost, but also from pursuing comparative advantage and producing at a lower ________________.
Answer: Opportunity cost
Explanation:
According to the theory of comparative advantage, a country has a comparative advantage in producing a commodity if the opportunity cost of producing that commodity in terms of other commodity is lower in that country as compared to the other country.
So, gains from trade would results not only from producing at a lower cost that is an absolute advantage but also from lower opportunity cost that is a comparative advantage.
Eric is a sales rep for an established building materials manufacturer. Business is good, but he is concerned that the company has spent little on new product development and has not created a new product in over five years. Without new products, Eric can market his current products only to his current customers or
A. diversify.
B. intensify his prototyping.
C. expand his early adopter market segment.
D. market the same products to similar customers.
E. focus on concept testing.
market the same products to similar customers
"current competitive conditions favor large companies over smaller ones because of their flexibility combined with their ability to use their size to achieve" True or False?
Answer:
The answer is True.
Explanation:
Advantages that corporation have over small businesses are that they can raise a lot of money by selling stock, corporation have a special legal status and continuos to exist when de owner dies, and limit de responsability to the investors, who do not have to pay off the corporation debt.
In small businesses, when there is a crisis, as sharp drop in sales, public institutions or labor unions does not provide realife, as they do when they do when it comes to a company that goes into great difficulties.
Also, the specialization and dependence on one coustumer has great risks. Usually suffers from lack of professional expertise.
You work for a large manufacturing plant. Your firm is thinking of initiating a new project to release an overseas product line. This is the company's first experience in the overseas market, and it wants to make a big splash with the introduction of this product. The project entails producing your product in a concentrated formula and packaging it in smaller containers than the U.S. product uses. A new machine is needed in order to mix the first set of ingredients in the concentrated formula. Which of the following actions is the next best step the project manager should take?
A. The project manager should document the project's high-level requirements in a project charter document and recommend that the project proceed.
B. The project manager knows the project is a go and should document the description of the product in the statement of work.
C. The project manager should document the business need for the project and recommend that a feasibility study be performed to determine the viability of the project.
D. The project manager should document the needs and demands that are driving the project in a business case document.
Answer:
C.
Explanation:
Since that is the company's first experience in the overseas market, the project manager should apply a feasibility study, because is entering in new markets that he doesn't know. In that case he must be able to determine the possible success and profitability of this actions.
So, it's negligent of his if he doesn't run an feasibility analysis.
The next best step for the project manager is to document the business need for the overseas product line project and recommend conducting a feasibility study to assess its viability. Therefore, option C is correct.
A project manager is a professional responsible for planning, organizing, and overseeing the execution of projects within an organization. They are tasked with ensuring that projects are completed successfully, on time, and within budget.
The project manager's role involves defining project objectives, developing project plans, coordinating resources, managing stakeholders, and monitoring project progress.
They are responsible for assigning tasks, communicating with team members, and resolving any issues or risks that may arise during the project lifecycle.
The project manager serves as a central point of contact, facilitating collaboration and ensuring project deliverables align with the organization's goals and objectives.
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On holiday weekends thousands of people picnic in state parks. Some picnic areas become so overcrowded the benefit or value of picnicking diminishes to zero. Suppose that the Minnesota State Park Service institutes a variable fee structure. On weekdays when the picnic areas get little use, the fee is zero. On normal weekends, the fee is $8 per person. On holiday weekends, the fee is $14 per person. The fee system corrects a problem known as the
Answer:
The fee system corrects a problem known as the Tragedy of the commons.
Explanation:
The tradegy of the commons is an economic theory that states how individuals make use and exploit natural resources to the point of depletion, out of their own self-interests and disregarding the general well-being of society. The term was made popular by biologist Garrett Hardin's scientific publication of the same name in 1968 and references economist William Lloyd when talking about the devastation of pastures in England back in 1832. This example proves that all individuals act on self-interest by contrasting the limited use of private owned pastures to preserve the land and the health of its herd, to the common pasture that was devastated by all herdsmen.
The fee system described corrects a problem known as the c) tragedy of the commons.
When individual users behave autonomously and in their own self-interest, depleting or deteriorating a common resource, the scenario is referred to as the "Tragedy of the Commons" and has detrimental effects on the community as a whole.
In this case, overcrowding in state parks is a common-pool resource issue, where the increased fees on busier days help manage and mitigate the overuse of picnic areas, thereby correcting the overexploitation of the resource.
Complete Question:
On holiday weekends thousands of people picnic in state parks. Some picnic areas become so overcrowded the benefit or value of picnicking diminishes to zero. Suppose that the Minnesota State Park Service institutes a variable fee structure. On weekdays when the picnic areas get little use, the fee is zero. On normal weekends, the fee is $8 per person. On holiday weekends, the fee is $14 per person. The fee system corrects a problem known as the
Group of answer choices
a) Coase theorem.
b) free rider problem.
c) Tragedy of the Commons.
d) public goods problem.
When an organization’s human resource department deals primarily with improving the productivity of the people within the organization, the department is consistent with the ______ view of human resource management.
Answer:
The answer is: Systems Perspective of the Human Resource Management
Explanation:
The systems perspective considers the organization in terms of;
Input - Throughput - Output,
Input: organized activities of employees.Throughput: Transformation of energies within the system.Output: Resulting product or serviceHRM´s role is to:
Competence management: Ensure that the employees have the required skills and abilities to provide the input needed by the organization. Behavior management: Evaluate employees´ performance and pay systems to ensure job satisfaction. Ensure employees work according to the organizational strategy, ultimately boosting productivity. In closed systems, create methods to safeguard the technological core from the environment. In open systems, facilitate interactions with the environment.