Answer:
A technological choice
Explanation:
Here, what you care about is taking the dollar home in form of cash not necessarily the free lunch in the restaurants. This is an example of technological choice.
There are hundreds of colleges and universities that serve millions of college students each year. The colleges vary by location, size, and educational quality, which allows students with diverse preferences to find schools that match their needs.
Number of firms?
a. one
b. few
c. many
Type of product?
a. Unique
b. Anything
c. Identical
d. Differential
Market Model?
a. Oligopoly
b. Perfect competition
c. Monopolistic Competition
d. Monopoly
Answer:
- many firms
- differential
- monopolistic competition
Explanation:
1. The availability of MANY FIRMS in different locations, sizes and educational quality will help students.
2. Product differentiation is when you develop a product so that customers believe that they are different from similar, competing products. Product differentiation is done through product quality, product design and features, and product support services.
3. Monopolistic competition characterizes an industry in which many firms offer products or services that are similar, but not perfect substitutes. Barriers to entry and exit in a monopolistic competitive industry are low, and the decisions of anyone firm do not directly affect those of its competitors. This kind of market allows students with diverse preferences to find schools that match their needs.
Final answer:
The market structure for colleges and universities features many firms, offers differentiated products, and operates under monopolistic competition.
Explanation:
When considering the market structure of colleges and universities, the number of firms would be categorized as many, indicating a high number of institutions serving college students each year. These firms offer a differentiated type of product since each college or university provides a unique blend of location, size, quality, and educational experience, catering to a diverse range of student preferences. The market model that best describes this scenario is monopolistic competition, where there are many sellers providing similar but not identical products, and each firm has some control over its price and product offerings.
Publix has 2,700 pounds of bananas with a total cost of $864. Because the bananas have become too ripe, Publix is contemplating whether it should use the bananas to bake banana bread or sell the bananas ‘as is’ to the homeless center for $1,485. In addition to the cost of the bananas, it would cost $2,565 to convert the bananas into bread, which could then be sold for a total of $4,480. However, a special oven to bake the bread will have to be rented for an additional $300. What is the incremental effect on income if Publix converts the bananas to banana bread?
Answer: an increment in profit $1615
Explanation:
2700 pounds of Banana
Total cost = $864
If sold = $1485
When converted into bread $2565 and sold at the cost of $4480
Oven rentage = $300
What is the incremental effect on income if Publix converts the bananas to banana bread?
Sales Amount - Expenses incurred
= $4480 - $2565 + $300
= $4480 - $2865
= $1615
If he had sold the bananas
Sales amount - cost amount
= $1485 - $864
= $621
By converting the bananas to bread the incremental effect on income is it would yield more profits at $1615 compared to when sold at which is $621
The incremental effect on income for Publix converting the bananas to banana bread, after accounting for all the costs, would be an increase in income of $130 when compared to selling the bananas 'as is'.
Incremental Effect on Income for Converting Bananas to Bread
To determine the incremental effect on income of converting bananas to banana bread, we first calculate the net income from selling the converted banana bread and compare it to the net income from selling the bananas 'as is'. The net income from selling the bread would be the sales revenue from the bread minus all associated costs, including the initial cost of the bananas, the cost to convert them into bread, and the oven rental. Conversely, the net income from selling the bananas 'as is' is simply the sales revenue from the bananas.
Net income from selling bananas 'as is': $1,485 - $864 = $621Net income from selling banana bread: $4,480 - ($864 + $2,565 + $300) = $751The incremental effect on income from converting the bananas to bread is calculated by subtracting the net income from selling the bananas 'as is' from the net income from selling the bread.
Incremental Income = $751 - $621 = $130
Therefore, converting the bananas into banana bread would increase Publix's income by $130.
The term employment discrimination encompasses workplace-related discrimination that may include the hiring process and disciplinary action but does not include the treatment of employees in terms of promotions and demotions, work schedules and assignments T/F
Answer:
false
Explanation:
Employment discrimination includes any type of discrimination that occurs during the hiring process, any applicable disciplinary actions and when deciding which employees will be promoted or demoted.
E.g. A company cannot hire employees of only a certain race or sex. If a group of employees has done something improper, they all must be disciplined in the same way regardless of their race, sex, ethnic background, religion, etc. A company cannot promote only a certain type or employees, it must provide equal opportunities to all, the glass ceiling is considered illegal.
Susan threw away in the garbage an old chair that had been in her family for many years by placing it on the curb with the rest of the trash. alma came by and began to admire the chair. although the chair was heavy, alma picked it up and called to a friend saying that she had just found an antique chair. when susan heard this, she demanded the return of the chair. the chair belongs to: susan unless alma can show susan gave it to her. susan because there was no intent to make a gift. alma because anything one finds belongs to the finder. alma because susan abandoned it and alma took possession of it.
Answer:
It belongs to Alma because Susan abandoned it and Alma took possession of it
Explanation:
By common law, Alma is a person who has found an abandoned property and she may claim it. To do this, she has to take some definite steps to show her claim. Alma can claim this abandoned piece of chair by taking it into her house, or by placing a sign on it to show that she now owns it.
If Susan was to take this to court, the court would determine the kind of item and where it was found to determine if Alma has a right to it. But since it was found in a dump site she now has the right to it.
City Slick, Inc., makes cosmetics. City Slick intentionally mislabels its packaged products to conceal a defect. Trusting and relying on the mislabeling, Dora buys a City Slick product and suffers an injury. City Slick is most likely liable for:___________.
A. product misuse.
B. fraud.
C. privity.
D. puffery.
Answer:
b. Fraud
Explanation:
The fraud is the wrongful act done by a person to gain a personal or financial profit. It is to be done intentionally.
Since in the given situation, the city intentionally mislabels its packaged products to hide a defect and after buying the product the dora suffers an injury
So in this case the city slick is liable for fraud as the company do this thing intentionally to generate a high profit
Which of the following is true? a. risky assets on average do not earn a risk premium b. there is a reward for bearing risk, on average c. on average, the greater the risk, the lower the reward d. when comparing the common stock of 2 firms, the riskier one will have the lower price e. there is no reward for bearing risk, on average
A primary purpose of the ICH is to: Require FDA registration of worldwide clinical trials. Minimize the need for redundant research. Require publication of negative trial results. Develop mandatory worldwide regulations for drug development.
Answer:
Minimize the need for redundant research.
Explanation:
ICH stands for "International Conference on Harmonisation of Technical Requirements for Registration of Pharmaceuticals for human Use"
The ICH is an initiative that was established in other to unite pharmaceutical industries and regulatory authorities to talk about the science and technicality of development and registration of pharmaceutical products.
The main aim of ICH is to harmonize processes and requirements for the registration of pharmaceutical products for the purpose promoting public health.
This harmonisation of protocols and designs help to minimize the need for redundant research and produce safe and high quality pharmaceuticals while following regulatory obligations.
A primary purpose of the International Council for Harmonisation ICH is to Minimize the need for redundant research. The correct option is A.
The International Council for Harmonisation of Technical Requirements for Pharmaceuticals for Human Use (ICH) is an organization that brings together regulatory agencies and the pharmaceutical industry from all over the world to develop and promote unified policies and standards for the creation, submission, and post-approval of pharmaceutical products.
Minimizing the necessity for redundant research is one of the ICH's main goals. To do this, uniform standards and norms for drug development, clinical trials, and regulatory criteria are established.
Thus, the ideal selection is option A.
Learn more about The International Council for Harmonisation here:
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The "Volcker disinflation" was A. an episode of stagflation that ravaged the U.S. economy between 1979 and 1989, under the leadership of Fed Chairman Paul Volcker. B. a deflationary cycle that plagued the economy between 1979 and 1989, under the leadership of Fed Chairman Paul Volcker. C. a significant reduction in the inflation rate between 1979 and 1989, under the leadership of Fed Chairman Paul Volcker. D. evidence that workers and firms really had rational expectations since they adjusted their expectations of inflation as soon as the Fed's monetary policy announcement was made. The unemployment rate A. fell from 10% to 6% during the period of the Volcker disinflation. B. remained unchanged at 6% during the period of the Volcker disinflation. C. rose from 6% to 10% during the period of the Volcker disinflation. D. rose from 6% to a higher rate in the beginning of the Volcker disinflation, but as the public started using rational expectations, the unemployment rate fell back to 6%.
Answer:
C. a significant reduction in the inflation rate between 1979 and 1989, under the leadership of Fed Chairman Paul Volcker.
C. rose from 6% to 10% during the period of the Volcker disinflation.
Explanation:
The "Volcker disinflation" was a significant reduction in the inflation rate between 1979 and 1989, under the leadership of the 12th Fed Chairman, Paul Volcker.
The unemployment rate rose from 6% to 10% during the period of the Volcker disinflation because he raised the federal funds rate from 11.2% in 1979 to 20% in June of 1981.
An agency relationship between a broker and a seller A. requires a written agency agreement. B. requires a verbal agency agreement. C. requires a deposit good faith money. D. must be approved by the Colorado Real Estate Committee.
Answer:
A. requires a written agency agreement.
Explanation:
A seller agency is a relationship between the agent and the seller of broker and consists of a written contract a type of agreement that is made for a particular home and commission, rights, obligations, and duties etc. The agreement is most commonly called as the exclusive sale under which the agent and the broker earns a commission, this agreement owns the toe of their duties, honesty, loyalty, and dedication in exchange for the property and services.Source documents: Multiple Choice Are input devices. Provide the information processed by an accounting system. Cannot be electronic files or web communications. Store processed information for future use. Convert information to the system's processing component.
Answer:
Provide the information processed by an accounting system
Explanation:
A source document is a document that collects the data for a trial or first-hand record and is later entered to the cash reports form It consists of the original documents and data and records and contains all the information and records certified copies of the original forms. These may include the findings and the observations and the other activities etc. Some examples include the Lab reports, subject files and hospital records and copies of transaction certificates.Angela, a salesperson at QuantaSource, informs her coworkers that one of their accounts requires a high level of selling effort since it is possible to strengthen their competitive position. However, Juan, another salesperson, argues that the account requires a moderate level of selling effort that is sufficient to maintain their current competitive position.
On the basis of portfolio analysis, what should strengthen Angela's argument?
Answer:
The account opportunity is high, but competitive position is weak.
Explanation:
In management, portfolio analysis refers to evaluating the products or services sold or offered by the company and their environment. This way we can identify which strategies would help to increase the company's market share and increase projected sales.
In this case, if the account is important and the opportunity to increase or consolidate the account is high, the company must actively engage in actions that can help them secure the account.
Organizing is the second basic managerial function; it follows planning and decision making. involves shaping the organization over time and is never truly finished. involves grouping activities and resources. can help the organization be flexible.
Answer:
e. All of these choices
Explanation:
As we know that
The functions of management comprises of five functions i.e planning, organizing, staffing, directing and controlling
The planning is the way to plan the things so that the company could attain its goals and objectives within the prescribed time
The organizing is the second managerial function which helps to organizing the things of the company. It involves the way of doing the task and utilizing the resources efficiently and effectively so that the task could be completed at low cost and time
In addition, there should be a flexibility in a organization so that if an opportunity can comes then it would grab easily, it also consist of planning & decision making
Dahlia is trying to make partner at one of the city's most prestigious law firms. It is generally understood that associates remain hard at work in the office until at least 7 or 8 o'clock each evening. This is an element of the firm's group:
Answer: Norms
Explanation:
According to the given scenario, Dahlia is trying to make a connection or we can say that partner at one of the famous law firms and in every organization or firms it is understood that the employees are working in the office at least 7 or 8 o' clock each evening so this is one of the firm's social norm.
The firm's norms is the term which is used to describe about the basic rules, laws, culture and regulation of the company which is follow by each member or employee in the firm.
The main objective of the organizational norms is to maintain the discipline and the equality among each employee in the firm. Therefore, Norms is the correct answer.
An employee is given a formal written warning for an offense he has committed. Despite this, he proceeds to commit another offense. Which of the following is the most likely organizational response if the organization has adopted a progressive discipline program? Termination Last change notification Threat of temporary suspension Temporary suspension An informal verbal warning
Answer:
temporary suspension and maybe an Improvement Plan.
Explanation:
Based on the scenario, if the company has adopted a progressive discipline program then the according response would be a temporary suspension and maybe an Improvement Plan. This is because a progressive discipline program follows the following steps accordingly.
1) Verbal Counseling. The first step in a progressive discipline process is to merely have a conversation with the employee. ...
2) Written Warning. The second step should be another conversation that is documented in a written format. ...
3) Employee Suspension and Improvement Plan. ...
4) Termination.
Seeing since step 2 has already been done the next course of action would be step 3.
Answer:
The answer is Threat of temporary suspension.
Explanation:
Progressive discipline refers to the process of using increasingly severe measures in dealing with an employee that has failed to correct a problem after he/she has been given an opportunity to do so.
The underlying principle of a sound progressive discipline program is to use the action which is least severe and which is believed to be adequate in correcting the undesirable situation.
The severity of the disciplinary action is increased only when the undesirable condition is not corrected.
Therefore, in the scenario given above, the next severe step among the options is a Threat of temporary suspension.
In June of the current year, Susan’s mother gave her 100 shares of a listed stock. The donor’s basis for this stock, which she bought 10 years ago, was $4,000, and market value on the date of the gift was $3,000. Susan sold this stock in July of the current year for $3,500. The donor paid no gift tax. What was Susan’s reportable gain or loss in the current year on the sale of the 100 shares of stock gifted to her?
Answer:
$0 No gain No Loss
Explanation:
To compute gain, a donee's basis is the same as the donor's basis, adjusted for gift tax and For computing loss, the lower of the donor's adjusted basis or the FMV of the property is used.
Therefore If the property is later transferred for more than FMV at the date of the gift but for less than the donor's basis at the date of the gift, no gain (loss) is recognized. Therefore, Susan reports neither gain nor loss.
Gain Loss
Amount realized
$3,500 $3,500
Less: basis
(4,000) (3,000)
Therefore Susan’s reportable gain or loss in the current year on the sale of the 100 shares of stock gifted to her shows No gain No loss
Answer:
$0 gain/loss
Explanation:
donor's basis = $4,000
market value = $3,000
selling price = $3,500
Since Susan acquired the stocks by gift, her basis for loss will be $3,000 (fair market value), but if she made a gain when selling them, her basis for gain will be $4,000 (donor's basis).
Susan's gain = $4,000 - $3,500 = $500
Susan's loss = $3,000 - $3,500 = -$500
since they offset each other, there is no gain/loss.
Cooper Construction Company had a contract starting April 2021, to construct a $24,000,000 building that is expected to be completed in September 2023, at an estimated cost of $22,000,000. At the end of 2021, the costs to date were $10,120,000 and the estimated total costs to complete had not changed. The progress billings during 2021 were $4,800,000 and the cash collected during 2021 was 3,200,000. Cooper uses the percentage-of-completion method.
For the year ended December 31, 2021, Cooper would recognize gross profit on the building of:___________
a) $843,333
b) $920,000
c) $1,080,000
d) $0
Answer:
b) $920,000
Explanation:
Under Completed contract method,the revenue is recognized only when the contract is 100% complete.
As the contract is not completed in 2021 , the profit is recognized only in the year of completion
If in case question is asked about % of completion answer should be as fallows:
Total gross profit on the contract = total contract value – total estimated cost
= 24,000,000 -22,000,000
= 2,000,000
Total cost in 2021 = 10,120,000
Total % of completion in 2021 = total cost in 2021/ total cost of contract
= 10,120,000/22,000,000
= 46%
Gross profit in 2021 = total gross profit on contract x Total % of completion in 2015
= 2,000,000 x 46%
= $920,000
Bob bought a desktop computer and a laptop computer. Before finance charges, the laptop cost $300 less than the desktop. He paid for the computers using two different financing plans. For the desktop the interest rate was 7% per year, and for the laptop it was 6% per year. The total finance charges for one year were $398. How much did each computer cost before finance charges?
Answer:
Laptop = $2,900
Desktop = $3,200
Explanation:
The cost of the laptop will be represented by the variable X
The desktop costs $300 more than the laptop, therefore, its cost will be X+300
The finance charge of 398 comes from the 7% interest on the desktop (7% interest on X+300), and the 6% interest on the laptop (6% interest on X).
We can lay out the formula with the information above:
398 = 0.07*(X+300) + 0.06*X
398 = 0.07X + 21 + 0.06X
398 = 0.13X + 21
398 - 21 = 0.13X
377 = 0.13X
377 / 0.13 = X
2,900 = X
So X is the laptop, therefore, the laptop costs $2,900.
The desktop costs $2,900 + $900 = $3,200
Greece Inc. has excess capacity. Under what situations should the company accept a special order for less than the current selling price?
a) When additional fixed costs must be incurred to accommodate the order
b) Never
c) When the company thinks it can use the cheaper materials without the customer's knowledge
d) When incremental revenues exceed incremental costs
Answer:
D) When incremental revenues exceed incremental costs
Explanation:
Incremental revenues are the additional revenues generated by selling additional units, or in this case an special order. Incremental costs are the additional costs generated by accepting the special order.
Generally when a special order is being considered, the company must first determine if the additional output is possible with the current capacity, and if so, which additional costs would apply to the special order. Generally certain fixed costs are not included in the cost analysis of special orders, and only variable costs are used to determine if it generates profits or not.
Amy has to come up with a strategy to regulate the excessive use of the Internet by her employees in such a way that they accept and commit to the solution themselves. It is advisable for her to use group decision making rather than individual decision making in this situation. True/ False?
Answer:
The answer in this case would be True.Explanation:
Considering that internet usage is a part of the regular functioning or operation of the company or business organization, it is an essential resource or endowment used by the employee to fulfill the concerned organizational duties and responsibilities.However,excessive use of internet will increase the operational cost for Amy as the head of the organization or management which often comes from unwanted, redundant and personal use of internet by the staff or employee.However, before taking up the decision completely on herself,which reflects the traits of autocratic organizational leadership, Amy can consider discussing the matter with the concerned group of employee and try to find a rational solution to the issue through a more democratic decision making process.Assume a monopolist with downward-sloping demand and marginal revenue (MR) curves. The monopolist operates with standard marginal cost (MC) and average total cost (ATC) curves. How does a monopolist determine the profit-maximizing output level and the corresponding profit-maximizing price?
Answer:
The monopolist's profit maximizing level of output and corresponding profit-maximizing price is found by equating its marginal revenue with its marginal cost, which is the same profit maximizing condition that a perfectly competitive firm utilizes in determining its equilibrium level of output. Therefore, as the price falls, the market's demand for output increases.
Suppose you own a proftable tailoring company that hires two workers. The combined production of the two workers is ten shirts per day. You decide to double the amount of capital and labor and see that the total number of shirts produced each day has increased to 22. This implies that your company is exhibiting:___________.
1. Decreasing returns to scale
2. Diminishing marginal product
3. Constant returns to scale
4, Economies of scale
Answer:
4. Economies of scale
Explanation:
In microeconomics, economies of scale are the cost advantages derived by an increased level of production.
When you decide to double the amount of capital and labor resulting in an increase in total number of shirts produced each day, this implies that your company is exhibiting Economies of scale.
Final answer:
The tailoring company doubling its capital and labor and receiving an output increase from 10 to 22 shirts per day is an example of economies of scale and illustrates increasing returns to scale. The correct option is 4.
Explanation:
When the tailoring company doubled both the amount of capital and the number of workers, the production of shirts increased from 10 shirts per day to 22 shirts per day. This change in output is indicative of economies of scale. If we consider the concept of returns to scale, we can determine that the company is experiencing increasing returns to scale, because doubling the inputs (both capital and labor) has resulted in more than a doubling of output. This is illustrated by the fact that an increase in resource usage by a certain percentage has led to an increase in output by a greater percentage, which characterizes increasing returns to scale.
In contrast, constant returns to scale would imply that the output would have exactly doubled to 20 shirts, since the inputs were doubled. Since the increase of output (from 10 to 22 shirts) is greater than the proportional increase in inputs, we can firmly conclude that the firm is not operating under constant returns to scale or diminishing returns to scale, but rather, it is benefiting from economies of scale with increased productivity.
The crowding-out effect is Multiple Choice strongest when the economy is at full employment. weakest when there is demand-pull inflation. strongest when the economy is in a deep recession. equally strong, regardless of the state of the macroeconomy.
Answer:
The crowding-out effect is strongest when the economy is at full employment.
Explanation:
The crowding out effect refers to an economic theory which argues that a rising public sector spending drives down or even eliminates private sector spending.
The three main reasons for the occurrence of crowding out effect are:
economics, social welfare, and infrastructure.Crowding out is most effective when an economy is already at potential output or full employment. Then the government's expansionary fiscal policy will encourage price increases, which will lead to an increased demand for money.
Totz Company produces jump ropes. Totz Company has the following sales projections for the upcoming year:First quarter budgeted jump rope sales in units17,000Second quarter budgeted jump rope sales in units20,000Third quarter budgeted jump rope sales in units20,000Fourth quarter budgeted jump rope sales in units25,000Inventory at the beginning of the year was 4,500 jump ropes. Totz Company wants to have 20% of the next quarter's sales in units on hand at the end of each quarter. How many jump ropes should Totz Company produce during the first quarter?
Final answer:
Totz Company should produce 16,500 jump ropes during the first quarter.
Explanation:
To calculate the number of jump ropes Totz Company should produce during the first quarter, we follow these steps:
Calculate the desired ending inventory for the first quarter, which is 20% of the second quarter's sales. 20% of 20,000 units (second quarter sales) equals 4,000 units.Add the desired ending inventory to the sales for the first quarter, then subtract the beginning inventory to find the production amount.(20,000 units * 20%) + 17,000 units - 4,500 units = 4,000 units + 17,000 units - 4,500 units = 16,500 units to be produced in the first quarter.
Mia Kaminsky wants to attend Riverside Community College. She will need to have $25,000 six years from today. Mia is wondering what she will have to put in the bank today so that she will have $25,000 six years from now. Her bank pays 6% compounded semiannually. Using the tables in the handbook, the amount Mia will have to deposit is:
Answer:
$17,534.50
Explanation:
F = P(1 + i)^n
F = Future value = $25,000
P = Present value = unknown
i = 6% compounded semiannually; This means 6/100/2 per compounding period
n = number of compounding periods = 12 (2 periods per year for 6 years)
25,000 = P(1 + 6/100/2)^12
You are solving for P
25,000 = P(1 + 0.03)^12
25,000 = P(1.03)^12
25,000 = P(1.42576)
P = 25,000/1.42576
P = $17,534.50
Therefore the amount Mia will have to deposit is $17,534.50
Final answer:
To calculate the present value of a future payment, Mia Kaminsky would need to deposit approximately $18,659.36 in the bank today to have $25,000 six years from now.
Explanation:
The formula for calculating the present value (PV) of a future payment is:
$$ PV = rac{FV}{[tex](1 + r)^n[/tex]} $$
Where:
PV is the present value, FV is the future value, r is the interest rate per period, and n is the number of periods.
For Mia Kaminsky's situation:
FV = $25,000, r = 6% compounded semiannually, and n = 6 years.
By plugging in these values, Mia would need to deposit approximately $18,659.36 in the bank today to have $25,000 six years from now.
Ray is a shareholder of Small Biz Company (SBC). When the directors fail to undertake an action to re-dress a wrong suffered by SBC, Ray files a suit on the firm’s behalf. Refer to Fact Pattern 20-1. Ray’s suit is a shareholder’s:_______.
a. duty-of-care suit.
b. duty-of-loyalty suit.
c. business-judgment rule suit.
d. derivative suit.
Answer:
The correct option is D,derivative suit
Explanation:
A derivative suit is a suit filed by a shareholder such as Ray on behalf of the company ,in the event that director failed to act appropriately ,when the company has been wrong.
In this Ray is considered a nominal plaintiff and SBC is a nominal defendant,however whatever damages is awarded is for the benefit of the company,the nominal defendant.
In essence ,a derivative suit usually has three parties,the shareholder,the company as well as the third party that has been sued.
Dai owns an automobile mechanic shop. He started using digital media to have real-time exchanges and almost instant communication with his defined consumer groups. All of the following are benefits of using real-time exchanges EXCEPT they
Answer:
Real-time exchanges eliminate the need to have face-to-face interaction with customers.
Explanation:
Real-time exchanges is a form of communication in which a firm or businesses used to communicate over internet with their clients and business partners in other to have fast and secured information sharing. It is a form digital marketing and is very crucial to survival of almost all businesses in this modern world. It thus, have its own disadvantage since there is need for face to face interaction in some aspect of the business to have effective communication and interaction with one clients or customers. It is on this note that the real-time exchanges is not suitable some time.
Answer: During online interactions, both the consumer and seller need to see each other to know that neither are attempting to scam the other. Also, shared information can be leaked out.
At Honest Tea, there are no salespeople who attempt to coerce consumers into buying their product. Instead they rely on word-of-mouth, which indicates the company is not involved in which of the following criticisms of marketing?
You are working on a project that is being implemented in a country different from your country of origin. You also have team members in several locations around the globe. You should consider all of the following specifically in regard to managing teams in this situation except for which one?
A. Time zones
B. Project presentation methods
C. Cultural differences
D. Communication styles
Answer:
Project presentation methods
Explanation:
When team are working at geographically diverse location, it brings in lot of diversity in terms of culture, attitude and behaviors and communication style.
Moreover, time zone becomes an important factor. Due to location difference there is difference of time zone as well. For example, difference in Asian and American time is almost 12 hours and hence the working hours differs. Thus, team member needs to be aligned with respect t time so that there is smooth information flow and team can coordinate productively.
Similar, owing to diverse location there is cultural difference which effects behavior and attitude of people. Hence the culture should be fully understood so that harmony and unity is established within team. Communication style also varies in different geographies and hence needs to be to understood which communication better suit. Some people may like virtual meeting while some may prefer communication through mail. Even style of speaking varies and need stop be taken care.
Project presentation is something which does not matter much in terms of managing team across globe. It is one of the modes of information sharing among the team. It should be made such that it eases the understanding of people and people are able to understand whatever is being presented.
Hence project presentation method does not impact managing team and is the answer to the question.
Mandy’s Packaging Inc. is a multibillion-dollar supplier of packaging materials. One of its salespeople rearranged production schedules at three different plants to satisfy an unexpected demand for boxes from a major client. The salesperson’s action is typical of the company’s sales philosophy and indicates an emphasis on _____. price-based selling relationship selling adaptive selling persuasive selling
Answer:
Relationship selling
Explanation:
Relationship selling is focussed more upon successfully building a long term relationship between a seller and a buyer rather than being merely focussed upon effecting a sales through .
The technique emphasizes upon the quality of interaction between the seller and the buyer which shall serve as a basis for develoment of a future relationship between the company and the customer.
This technique is prominent in case of those companies that rely on repetitive purchases on part of the buyer like private instructors. Good relationships may lead to customer loyalty which prompt repetitive purchases at their end.
In the given case, the supplier company's sales person rearranged production schedule so as to accomodate unexpected demand from a major client. Such an action demonstrates company's sales policy with emphasis upon relationship selling.
Abner tells a representative of Brass & Woodwind Musical Instruments, Inc., that he will pay for Claudia’s trumpet if she does not. Abner does not secure any personal benefit for this promise. This promise is enforceable as a contract:___________.
a. under any circumstances.
b. only if it is in writing.
c. only if the value of the trumpet is more than $500.
d. only if Claudia agrees to it.
Answer:
The correct option is B,only if it is in writing.
Explanation:
Such promise is not enforceable since one of key elements of enforceable agreement(contract) is missing.
The missing element is that Abner is not getting anything of value in return for the promise to pay for Claudia's trumpet.
The only way to get Abner to fulfill the promise in law parlance is get the promise documented as well as signed by Abner,that can be used as an evidence against Abner in future in order to ensure the promise is fulfilled.
Answer:
Option B
If only it is in writing
Explanation:
At this point in time, Abner is opting to act as a surety for Claudia. and surety contracts are legally binding, once they are signed.
Claudia already owes Brass & Woodwind Musical Instruments, Inc and there is a contract already existing between the two parties. for Abner to decide to pay Claudia's fee, it means that Abner wants to act as surety for Claudia.
However, surety contracts need to be written down and signed for them to be effective. This makes option B the correct answer