The three disadvantages of centralization are lack of flexibility and adaptability, reduced employee motivation and engagement, and increased decision-making burden.
Lack of flexibility and adaptability: Centralization limits the ability of subordinates or lower-level employees to make decisions and respond quickly to changes or unforeseen circumstances. With decision-making power concentrated at the top, there is a lack of flexibility to adapt to specific situations or take advantage of local knowledge and expertise. This can hinder the organization's ability to respond swiftly to market trends, customer needs, or operational challenges.Reduced employee motivation and engagement: Centralization can lead to reduced employee motivation and engagement as it limits the autonomy and involvement of lower-level employees in decision-making processes. When employees feel disempowered and disconnected from decision-making, they may become less motivated, leading to decreased productivity, innovation, and job satisfaction. Without a sense of ownership or involvement in decision-making, employees may perceive their work as merely following orders rather than contributing to the organization's success.Increased decision-making burden: In a centralized system, decision-making authority rests with a few individuals at the top, resulting in a heavy burden on them. This can lead to bottlenecks, delays in decision-making, and increased pressure on top-level management. With limited input and perspective from lower-level employees, the decision-makers may face challenges in considering diverse viewpoints, gathering relevant information, and making well-informed decisions. Moreover, the concentration of decision-making power can also lead to decision fatigue and burnout among the central decision-makers.The rationale behind these disadvantages stems from the fact that centralization restricts the distribution of decision-making power and authority. While centralization may offer certain benefits such as uniformity and control, it can hinder organizational agility, employee engagement, and decision-making efficiency. Decentralizing decision-making to appropriate levels within the organization can alleviate these disadvantages by empowering employees, enabling quick response to changing circumstances, and sharing the decision-making burden.
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Distinguish between the following concepts a) Short run vs long run b) Economic profit vs accounting profit c) Economies of scale vs economies of scope d Economic cost vs accounting cost e) Break even point vs shutdown point
a) In the short run, at least one of the firm's resources is fixed, while in the long run, all resources are variable.
In the short term, a company can increase output only by adding more variable factors, such as labour, to the fixed factor. In the long run, however, a company can change all factors of production, including factory size, labour, and management. In the short run, the company is unable to adjust to market demand because it is unable to adjust its output level, whereas in the long run, the company can adjust its output level to meet market demand.
b) Economic profit vs accounting profit
Economic profit is the difference between the company's total revenue and total opportunity costs, whereas accounting profit is the difference between the company's total revenue and total explicit costs. In economics, opportunity costs refer to the benefits that a company loses by opting for one option over another.
c) Economies of scale vs economies of scope
Economies of scale occur when production costs decrease as production volumes rise, whereas economies of scope occur when it becomes less expensive for a firm to produce two or more goods together than to produce them separately.
d) Economic cost vs accounting cost
Economic cost refers to the cost of employing the resources of a company, including the opportunity cost. On the other hand, accounting costs are the actual expenses incurred by the company, such as labour costs, utility costs, and production costs.
e) Break-even point vs shutdown point
The break-even point is the level of production at which a company's total revenue equals its total cost. In other words, it's the point at which the company's earnings are equal to its expenses. The shutdown point is the stage at which a firm ceases to generate enough revenue to cover its variable costs and is forced to shut down in the short run due to losses.
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1. Short run vs long run
2. Economic profit vs accounting profit
3. Economies of scale vs economies of scope
4. Economic cost vs accounting cost
5. Break even point vs shutdown point
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Impact of Covid 19 & Suggested Resilience Strategies
Introduction, Research Question, Uncertainty, Risk Management, Crisis Management, Resilience Strategies, Industry Analysis, Company Analysis, Problems and Suggested Resilience Strategies, and Conclusions and Recommendations. ( industry analysis & company analysis, and the idea of resilience strategies.). before and after Covid, and any newly developed strategies. Part of company analysis: strategies before & after Covid, analysis of new adopted business model and strategies
Introduction:
The COVID-19 pandemic has had a profound impact on businesses and industries worldwide, causing disruptions and uncertainties on an unprecedented scale.
This report aims to analyze the impact of COVID-19 on companies and industries, focusing on the development of resilience strategies. The research question guiding this analysis is: How has COVID-19 affected industries and companies, and what strategies have been adopted to build resilience in the face of this crisis?
Industry Analysis:
An in-depth industry analysis is essential to understand the specific challenges and opportunities brought about by the pandemic. This analysis will examine how different sectors, such as travel and tourism, retail, healthcare, and technology, have been affected by COVID-19. It will explore changes in consumer behavior, market dynamics, supply chain disruptions, and government regulations impacting each industry.
Company Analysis:
The company analysis will delve into specific businesses within the chosen industries. It will assess their strategies before and after COVID-19, analyzing their preparedness and ability to adapt to the crisis. This analysis will evaluate how companies have adjusted their operations, business models, and value propositions to meet changing customer needs and overcome the challenges posed by the pandemic.
Resilience Strategies:
To build resilience in the face of COVID-19, companies have employed various strategies. These strategies may include digital transformation, diversification of revenue streams, remote work arrangements, enhanced supply chain management, and customer-centric approaches. The report will explore these strategies and their effectiveness in mitigating the impact of the crisis.
Problems and Suggested Resilience Strategies:
Identifying the problems faced by companies due to COVID-19 is crucial in formulating effective resilience strategies. This section will highlight common challenges such as reduced demand, financial constraints, operational disruptions, and workforce issues. It will provide recommendations for resilience strategies, such as developing robust contingency plans, investing in digital infrastructure, fostering agile decision-making, and strengthening stakeholder relationships.
Conclusions and Recommendations:
Based on the analysis of industry trends, company strategies, and resilience measures, the report will draw conclusions on the overall impact of COVID-19 and the effectiveness of adopted strategies. It will provide recommendations for businesses to navigate future crises, emphasizing the importance of agility, adaptability, and proactive planning.
By examining the industry and company-specific impacts of COVID-19, analyzing resilience strategies, and providing recommendations, this report aims to offer insights into how businesses can effectively respond to and recover from the challenges posed by the pandemic and other unforeseen crises.
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QUESTION 14
Areej invested BD 14000 12 years ago, today this investment is worth BD 52600, based on this what annualced cats has Pred ted
O a. 11.66%
O b. 2.75%
O c. 17.43%
O d. 8.91%
Option (c) 17.43% is not correct. The annual compounded rate of Areej's investment is 6.87%.
To calculate the annual compounded rate, we can use the formula: r = (V/P)^(1/n) - 1, where "r" is the annual compounded rate, "V" is the current value of the investment, "P" is the original principal amount, and "n" is the number of years.
In this case, Areej invested BD 14000 12 years ago, and today it is worth BD 52600. So we have V = BD 52600 and P = BD 14000. The time period is also given as 12 years. Plugging these values into the formula, we get:
r = (52600/14000)^(1/12) - 1 = 0.0687
Multiplying by 100 to convert to a percentage, we get an annual compounded rate of 6.87%. Therefore, option (c) 17.43% is not correct.
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KL, Inc. had the following portfolio of investments as of January 1, 2022: Investment Balance ABC Co. bonds P1,530,000 DEF Company stocks 2,325,000 GHI Corp. stocks 3,600,000 Additional information on the above investments is shown below: The ABC Co. bonds are accounted for as a financial asset at fair value through profit or loss. The company has 1,500 bonds with face value of P1,000 that pay interest of 8% every March 1 and September 1 of each year until 2025.
The financial asset of KL, Inc. includes ABC Co. bonds, which are accounted for as a financial asset at fair value through profit or loss.
The ABC Co. bonds are accounted for as a financial asset at fair value through profit or loss. The company has 1,500 bonds with a face value of P1,000 that pay interest of 8% every March 1 and September 1 of each year until 2025.
A financial asset is a term used to describe any financial instrument, such as stocks, bonds, and cash, that can be traded or bought. KL, Inc. has a portfolio of investments as of January 1, 2022, which includes the following:
Investment: ABC Co. bonds
Balance: P1,530,000
Details: The ABC Co. bonds are accounted for as a financial asset at fair value through profit or loss. The company has 1,500 bonds with a face value of P1,000 that pay interest of 8% every March 1 and September 1 of each year until 2025.
Hence, we can conclude that the financial asset of KL, Inc. includes ABC Co. bonds, which are accounted for as a financial asset at fair value through profit or loss.
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Consider the supply and demand equations: S₁ = 0.4Pt-1 - 12 Dt = -0.8Pt+25, where S, and D, denote the market supply and market demand at time t. Assume Po = 70 and the equilibrium conditions prevail. Find the long-run price, that is, the price P, as t grows to infinity. Round your answer off to two decimal places.
The long-run price, as t grows to infinity, is approximately $30.83 with the supply equations, S₁ = 0.4Pt-1 - 12 Dt = -0.8Pt+25.
To find the long-run price in this scenario, we need to set the market supply equal to the market demand and solve for the price (P) as t approaches infinity.
Given the supply equation: S₁ = 0.4Pt-1 - 12
And the demand equation: Dt = -0.8Pt + 25
Setting S₁ equal to D₁:
0.4Pt-1 - 12 = -0.8Pt + 25
Next, we substitute Pt-1 with Pt (since we are looking for the long-run price as t grows to infinity):
0.4Pt - 12 = -0.8Pt + 25
Combining like terms:
1.2Pt = 37
Dividing both sides by 1.2:
Pt = 37 / 1.2
Pt ≈ 30.83
Since we are looking for the long-run price as t grows to infinity, we can assume that Pt ≈ Pt-1. Therefore, the long-run price (P) is approximately $30.83.
The long-run price, as t grows to infinity, is approximately $30.83.
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A jar contains 10 red marbles and 30 blue marbles. What is the probability of picking a red marble?
Formula :
Steps :
P =
The probability of picking a red marble from a jar containing 10 red marbles and 30 blue marbles can be calculated using the formula:
P = Number of favorable outcomes / Total number of possible outcomes.
In this case, the total number of marbles in the jar is 10 red + 30 blue = 40 marbles. The number of favorable outcomes is the number of red marbles, which is 10. Therefore, the probability of picking a red marble can be calculated as:
P = 10 (number of red marbles) / 40 (total number of marbles) = 1/4 = 0.25 or 25%.
The probability of picking a red marble from the given jar is 0.25 or 25%.
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a.) Two job advertisements for a sales assistant position are posted in the 'Burnaby Now' local newspaper. One advert is for Bomi's Bakery, a small pastry shop that employs only two assistants. The other is for Sandeep's Supermarkets, a chain of food supermarkets with several large branches throughout Greater Vancouver. Both adverts say "must be available to work weekends." Susan, a well-qualified, but partly physically disabled woman, applies for each job and, in each case, is the best candidate. Susan's disability will not directly affect her job performance but, every Saturday afternoon, she has to attend a clinic for half-a-day for special medical treatment. i.) For the small bakery situation above, explain why you think the employer would, or would not, be expected to accommodate' the job applicant.
ii.) For the supermarkets situation above, explain why you think the employer would, or would not, be expected to accommodate the job applicant.
b.) Correctly name TWO industries that are regulated by 'federal employment law.
c.) Give a brief example of 'indirect discrimination' in an employment situation.
a) i) The small bakery would be expected to accommodate the job applicant due to its size and flexibility.
ii) The supermarket chain may not be expected to accommodate the applicant due to a larger workforce and scheduling challenges.
a) i) In the small bakery situation, the employer would likely be expected to accommodate the job applicant. Since Bomi's Bakery is a small pastry shop with only two assistants, they may have more flexibility in adjusting work schedules and accommodating Susan's medical treatment on Saturdays. The impact on the overall operations of the bakery may be minimal, and it would be reasonable to make arrangements to accommodate her needs without significant disruption.
ii) In the case of Sandeep's Supermarkets, the employer may not be expected to accommodate the job applicant. As a chain of food supermarkets with multiple branches, they likely have a larger workforce and stricter scheduling requirements. Accommodating Susan's Saturday medical treatment might pose challenges for scheduling and staffing, potentially impacting the smooth operation of the supermarkets. In this situation, the employer may find it more difficult to make accommodations without causing significant disruptions to the business.
b) Two industries regulated by federal employment law are:
i) Banking and finance industry: This industry is subject to federal employment laws that regulate areas such as fair employment practices, minimum wage requirements, working hours, and occupational safety.
ii) Transportation industry: Federal employment laws govern various aspects of the transportation industry, including regulations related to wages, working hours, workplace safety, and employee benefits for workers in sectors like aviation, railways, and trucking.
c) An example of indirect discrimination in an employment situation is when a company implements a policy or practice that appears to be neutral but disproportionately affects a particular group of employees based on a protected characteristic. For instance, if a company enforces a strict grooming policy that requires employees to have short hair, it may indirectly discriminate against employees from certain religious or cultural backgrounds where longer hair is a religious or cultural practice. While the policy is not explicitly targeting a specific group, it creates an unfair disadvantage for individuals with religious or cultural beliefs that conflict with the policy, leading to indirect discrimination.
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Which of the following is responsible for the change in dynamic instability in microtubules during mitosis?
A. Phosphorylation of a protein with microtubule stabilizing activity, which results in decreased microtubule stability.
B. Phosphorylation of a protein with microtubule destabilizing activity, which results in increased microtubule stability.
C. Dephosphorylation of a protein with microtubule destabilizing activity, which results in increased microtubule stability.
D. Dephosphorylation of a protein with microtubule stabilizing activity, which results in decreased microtubule stability.
Phosphorylation of a protein with microtubule stabilizing activity, which results in decreased microtubule stability is responsible for the change in dynamic instability in microtubules during mitosis. Option A is the correct answer.
Proteins can be modified post-translationally in a way called protein phosphorylation, in which a protein kinase adds a covalently bonded phosphate group to an amino acid residue. Option A is the correct answer.
A protein's structural conformation is changed by phosphorylation, which can also change a protein's function by activating or inactivating it. Human proteins have around 13000 phosphorylation sites. Numerous illnesses, including cancer, Alzheimer's disease, Parkinson's disease, and other degenerative disorders have been linked to abnormal protein phosphorylation. Microtubule Associated Proteins (MAPs), of which tau protein is a member, are proteins that, among other things, aid in stabilizing microtubules in cells, including neurons. Tau protein's ability to associate and stabilize relies on how phosphorylated it is.
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In the context of successful storytelling, identify a true statement about conflict in a story. (choose one below)
Especially good stories make their conflicts interesting by setting them in different circumstances.
All good conflicts in stories need not be resolved in some way. Stories without tension or conflict are not all that compelling and impactful.
Conflict is used to give a hint of what is to happen later in the story.
Resolution is an effective method to create tension or conflict in a story.
Especially good stories make their conflicts interesting by setting them in different circumstances.
Conflict is an essential element of storytelling that drives the narrative and engages the audience. Conflict creates tension, challenges the characters, and propels the story forward. In successful storytelling, conflicts are often made interesting by placing them in unique or varied circumstances. By presenting conflicts in different settings or contexts, storytellers can make them more compelling, relatable, and impactful for the audience.
In the context of successful storytelling, one true statement about conflict in a story is that especially good stories make their conflicts interesting by setting them in different circumstances. This approach adds depth and intrigue to the narrative, making the conflicts more engaging for the audience.
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what is typically the largest source of money for a new business?
a) The federal government
b) Small-town banks
c) Family and friends
d) Venture capitalists
Based on the given options, (c) Family and friends are typically the largest source of money for a new business. Entrepreneurs often rely on personal connections and relationships to secure initial funding from family members, friends, or close acquaintances who believe in the business idea and are willing to provide financial support.
When starting a new business, the largest source of money typically comes from family and friends. Let's briefly explain the other options:
a) The federal government: While the government provides various programs and grants to support small businesses, it is not typically the largest source of funding for a new business. Government assistance can be sought, but it may not provide the bulk of the initial capital.
b) Small-town banks: Local banks can be a potential source of financing for small businesses, particularly through loans or lines of credit. However, the amount of funding obtained from small-town banks may not surpass the contribution from family and friends.
d) Venture capitalists: Venture capitalists are professional investors who provide funding to high-growth potential businesses in exchange for equity or ownership stake. While venture capitalists can be a significant source of funding for certain types of businesses, they are more commonly associated with startups that have substantial growth prospects.
Based on the given options, c) Family and friends are typically the largest source of money for a new business. Entrepreneurs often rely on personal connections and relationships to secure initial funding from family members, friends, or close acquaintances who believe in the business idea and are willing to provide financial support.
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Future wrote a song entitled "Wait For U." At the bottom of the first page of music, he wrote "© 2022 by Future." One year later, a local Seattle artist, Macklemore, was playing his song at the Crocodile bar. Future felt that the Crocodile was an inappropriate setting for his music. What are Future's remedies against Macklemore? What are Future's remedies against the Crocodile? Please support your answer with examples. 5 points for the first post and 5 points for the reply post. You must have at least one example to receive the points for this question.
Future's remedies against Macklemore: Once Future has copyrighted his musical work, any individual, including Macklemore, can only utilize it with his consent. Macklemore, as a result, can be held liable for copyright infringement if he does so without his permission.
Future may be entitled to pursue a lawsuit against Macklemore if this occurs. Furthermore, Future may be entitled to injunctive relief against Macklemore to prevent him from performing his music at the Crocodile bar without his consent. Future can also demand that Macklemore provide an account of all profits earned from utilizing his copyrighted song. Furthermore, if Macklemore's performance at the Crocodile bar leads to monetary gain, Future may demand for damages as a result of Macklemore's infringing activity.
As a result, if Macklemore utilizes his music without his permission and against his will, Future may be entitled to obtain all of the aforementioned remedies against him. Future's remedies against the Crocodile: Future can sue the Crocodile for infringing his copyright by allowing Macklemore to perform his music without his permission. The bar management, not Macklemore, is accountable in this case. Furthermore, Future may seek an injunction prohibiting the bar from playing his music at any future events. Finally, Future may seek damages for lost profits and other injuries caused by the bar's infringement of his rights.
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"Management must establish input goals, process goals and output goals with regard to the deployment of all the five M's". 5. Pamela owns a pet-sitting business. People hire her to take care of their pets when they go out of town. As part of her service, Pamela also brings in her client's mail and water their plants. Her business is booming, and she needs to make some critical decisions about its future. Ques. Help Pamela decide what to do next. Should she expand her business? Add employees? Take a partner? Make sure that you evaluate the advantages and disadvantages of each suggestion you offer and mention them in your answer.
Pamela, the owner of a pet-sitting business, seeks guidance on making critical decisions regarding the future of her business. This thread explores potential options such as expanding the business, adding employees, or taking on a partner.
Expanding the business: Pamela could consider expanding her business to cater to a larger customer base or offer additional services. Advantages of expansion include increased revenue potential and market presence. However, expanding may require additional resources, such as capital investment, operational adjustments, and increased managerial responsibilities.
Adding employees: Hiring employees can help Pamela handle a larger workload, provide better customer service, and potentially expand the business. Advantages include increased efficiency and scalability. However, disadvantages may include higher labor costs, the need for training and supervision, and potential loss of control over service quality.
Taking a partner: Partnering with someone can bring complementary skills, additional resources, and shared responsibilities. Advantages include shared workload, expertise, and potential financial support. However, disadvantages may include shared decision-making and potential conflicts in business direction.
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Consider a situation in which a dance studio is next to a spa. Noise from the dance studio disrupts the spa's business, to the tune of $1000 of lost revenue. The noise could be prevented if the studio installed noise cancelling panels at a cost of $1200. The spa is new to town, while the dance studio has been in operation for 20 years at the location. 7. The socially desirable result is: The spa should close. The dance studio should install panels. The spa should just endure the lost business. The dance studio should pay damages to the spa. 8. The spa sues the studio, and wins the court case the judge decides the studio has the right to make noise. According to Coase, what will happen next, provided bargaining is cheap? The dance studio will pay the spa some amount and continue making noise. The dance studio will have to install panels. The spa will pay the studio to install panels. O The dance studio will close.
7. The socially desirable result is that the dance studio should install noise cancellation panels.
8. The dance studio will pay the spa some amount and continue making noise.
Installing noise-canceling panels at the dance studio would prevent noise disruption to the spa's business, resulting in a win-win situation. The dance studio can continue its operations while minimizing the negative impact on the spa's revenue.
According to the Coase theorem, if bargaining costs are low, the parties involved can negotiate and reach an efficient outcome. In this case, since the court has ruled in favor of the dance studio's right to make noise, the spa may approach the dance studio with a proposal. The dance studio could agree to compensate the spa for the lost revenue in exchange for the continued operation without installing noise-canceling panels. The amount of compensation would be determined through negotiations between the two parties.
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Web Wizard, Inc., has provided information technology services for several years. For the first two months of the current year, the company has used the percentage of credit sales method to estimate bad debts. At the end of the first quarter, the company switched to the aging of accounts receivable method. The company entered into the following partial list of transactions during the first quarter. a. During January, the company provided services for $32,000 on credit. b. On January 31, the company estimated bad debts using 1 percent of credit sales. c. On February 4, the company collected $16,000 of accounts receivable. d. On February 15, the company wrote off a $100 account receivable. e. During February, the company provided services for $22,000 on credit. f. On February 28, the company estimated bad debts using 1 percent of credit sales. g. On March 1, the company loaned $2,400 to an employee, who signed a 6% note, due in 6 months. h. On March 15, the company collected $100 on the account written off one month earlier. i. On March 31, the company accrued interest earned on the note. j. On March 31, the company adjusted for uncollectible accounts, based on an aging analysis (below). Allowance for Doubtful Accounts has an unadjusted credit balance of $1,120. Customer Alabama Tourism Bayside Bungalows Others (not shown to save space) Xciting Xcursions Total Accounts Receivable Estimated Uncollectible (8) Number of Days Unpaid Total 0–30 31–60 61–90 Over 90 $ 200 $ 100 $ 80 $ 20 320 $ 320 15,400 6,000 7,600 1,000 800 400 400 $ 16,320 $6,500 $ 7,680 $1,020 $ 1,120 28 15% 20% 40% 2. Prepare the journal entries for items (a)-6). (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field. Do not round intermediate calculations.) View transaction list Journal entry worksheet < 1 2 3 4 5 6 7 8 ..... 11 > Record service revenue of $32,000 sold on account during January. Note: Enter debits before credits. Transaction General Journal Debit Credit Record entry Clear entry View general journal
The journal entry to record service revenue of $32,000 sold on account during January would be:
Accounts Receivable $32,000
Service Revenue $32,000
How is the service revenue for January recorded?Journal entries are used to record business transactions in the accounting system. They ensure that the financial statements accurately reflect the company's activities and help in analyzing its performance. In this case, the company provided services on credit, resulting in an account receivable.
To recognize the revenue earned from these services, the account receivable is debited, increasing the amount owed to the company. On the other side, the service revenue account is credited, reflecting the increase in revenue. This entry follows the basic accounting principle of double-entry, where every transaction affects at least two accounts
By recording the service revenue in this manner, the company can track its sales and ensure proper recognition of revenue.
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Course Name International Market Entry Strategies Type of Evaluation S 2022 Assignment 1 Due Date Professor /60 Khalil Hashmat Week 4 (May 31, 2022-By 11:00 am) Student Name: Student ID#: Please refer to the instructions provided along with the assignment requires to be followed completely. There will be no marks/points awarded for the Assignment submitted after the date of deadline specifically mentioned Instructions: Please refer to the following before attempting The purpose of this Assignment is to have students develop their basic knowledge and concepts related to the course. The Assignment questions should be answered in student's own words using the course related theories, concepts, and applications The Assignment calls for additional research primarily secondary research. Make sure to dite all references appropriately Refrain from copying or sharing answers as the same will be considered "plagiarism and students will not be awarded any marks Assignment without proper citation in the text and references at the end wil NOT be marked. Q1: Discuss (with examples) the factors to consider before entering the foreign market. (Marks-20 Q2: Discuss (with examples) the most common market entry barriers with the strategies to overcome these barriers. (Marks-20 Q3: Discuss (with examples) the elements included in the "export marketing mix" in detail in context with International Market Strategies. (Marks-20) Course Code MI-GI Section Code BU1233-61 Percentage Weight of Total Evaluation Total Mark
The assignment for the course "International Market Entry Strategies" is Assignment 1, which is due on May 31, 2022, and is worth a total of 60 marks.
The assignment requires students to develop their knowledge and understanding of the course material and theories related to international market entry.
assignment consists of three questions that need to be answered using examples and appropriate references. Proper citation and avoiding plagiarism are essential for the assignment to be marked.
The assignment for the course "International Market Entry Strategies" is an evaluation task designed to assess students' understanding of the subject matter. It is worth a total of 60 marks, which will contribute to the students' overall evaluation. The assignment is due on May 31, 2022, by 11:00 am. It is important for students to carefully read and follow the instructions provided with the assignment to ensure that all requirements are met.
The assignment consists of three questions, each carrying a specific mark weightage. In Question 1, students are required to discuss the factors to consider before entering a foreign market, providing examples to support their answers. Question 2 focuses on market entry barriers and requires students to discuss the most common barriers along with strategies to overcome them, again using examples. Question 3 pertains to the "export marketing mix" in the context of international market strategies, and students are expected to discuss the elements included in detail, providing relevant examples.
It is important for students to use their own words while answering the assignment questions and to draw upon course-related theories, concepts, and applications. Additionally, the assignment calls for additional research, primarily secondary research, and students are reminded to cite all references appropriately. Copying or sharing answers is considered plagiarism and will result in zero marks. Proper citation in the text and references at the end are necessary for the assignment to be marked.
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Choose all those statements that are appropriate for choosing the sole proprietor format when starting the business. 1.__I will lose precious time and lose the business opportunity if I am forced to take care of formalities. 2.__This is a family business that has no plans for a huge expansion of business. 3.__A business is a business and being a sole proprietorship or a corporation does not make any difference. 4.__I would like to try my business concept as quickly as possible and consider incorporation if it is viable. 5.__I do not want to incur unlimited liability from running my business.
The statements that are appropriate for choosing the sole proprietor format when starting a business are:
2. This is a family business that has no plans for a huge expansion of business.
3. I would like to try my business concept as quickly as possible and consider incorporation if it is viable.
4. I do not want to incur unlimited liability from running my business.
Choosing the sole proprietor format for starting a business is appropriate when it is a family business with limited expansion plans, when the entrepreneur wants to quickly test their business concept, and when they want to avoid unlimited liability.
When the business is a family business with no intention of significant expansion, the simplicity and flexibility of the sole proprietorship format can be suitable. It allows for easy decision-making and control within the family unit without the need for complex governance structures. Opting for the sole proprietor format initially enables the entrepreneur to swiftly launch their business concept without the burden of extensive formalities associated with other business structures. This allows for faster market entry and testing of the viability and profitability of the business idea. If the concept proves successful, the option to consider incorporation can be explored later.
Choosing sole proprietorship can be appropriate when the business owner wants to limit their personal liability. As a sole proprietor, the individual maintains control over the business's operations and assumes full responsibility for its liabilities, protecting personal assets from being directly at risk. It's important to consider that while sole proprietorship may have its advantages in certain situations, other factors such as legal, financial, and long-term growth plans should also be evaluated when selecting the appropriate business structure. Seeking advice from professionals, such as lawyers or accountants, can help make an informed decision based on individual circumstances.
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diminishing returns to specialization occurs when: A.
resources can move freely from the production of one good to another within a country.
B.
more units of resources are required to produce each additional unit.
C.
the cost of producing goods reduces substantially with increase in number of goods produced.
D.
the quality of resources comes down as a result of producing more goods.
E.
the quality of goods produced per unit of resource begins to improve.
When there is a decrease in the number of additional units that can be produced with a constant amount of resources (capital and labor), diminishing returns to specialization occurs.
The correct option is B).
After a specific point, each additional unit of output needs more and more resources, resulting in a decrease in output per unit of resource (capital and labor) Specialization leads to economies of scale, allowing businesses to produce more goods for less money as a result of increased efficiency.
There is a limit to the amount of benefits that can be gained from specialization. When there is an increase in the level of specialization, a decrease in the level of marginal productivity results, which leads to diminishing returns to specialization. Because of the reduction in output per unit of resource (capital and labor), it becomes less effective to continue specializing in production.
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Suppose the short-run production function is q = 10L2. Suppose that the wage rate is $110 per unit of labor. What is the marginal cost at q = 253? Your Answer:
The marginal cost at q = 253 is approximately $1.09. To find the marginal cost at q = 253, we need to calculate the derivative of the cost function with respect to quantity.
Given the short-run production function: q = 10L^2
We can calculate the total cost function as the product of the quantity and the wage rate:
TC = wL
where TC is total cost, w is the wage rate, and L is the quantity of labor.
Taking the derivative of the total cost function with respect to quantity, we can find the marginal cost:
MC = d(TC)/dq = dwL/dq = w(dL/dq)
Since q = 10L^2, we can differentiate this equation to find dL/dq:
dL/dq = 1/(20L)
Substituting this back into the marginal cost equation:
MC = w(1/(20L))
Given that the wage rate w = $110 and q = 253, we can calculate the marginal cost:
MC = $110 * (1/(20L))
At q = 253, we need to find the corresponding value of L:
253 = 10L^2
L^2 = 25.3
L ≈ 5.03
Substituting L = 5.03 into the marginal cost equation:
MC = $110 * (1/(20*5.03))
MC ≈ $1.09
Therefore, the marginal cost at q = 253 is approximately $1.09.
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Levine Inc., which produces a single product, has prepared the following standard cost sheet for one unit of the product. Direct materials (10 pounds at $2.70 per pound) $27.00 Direct labor (6 hours at $12.00 per hour) $72.00 During the month of April, the company manufactures 320 units and incurs the following actual costs. Direct materials purchased and used (1,700 pounds) $4,760 Direct labor (1,940 hours) $22,892.
Compute the total, price, and quantity variances for materials and labor.
Total materials variance:
Materials price variance:
Materials quantity variance:
Total labor variance:
Labor price variance:
Labor quantity variance:
Show work and explanations.
Given data Direct materials Standard cost = 10 pounds at $2.70 per pound Actual cost = 1,700 pounds Direct labor Standard cost = 6 hours at $12.00 per hour
Actual cost = 1,940 hours Part 1: Materials Direct materials: Total materials variance = Actual cost - Standard cost= $4,760 - $2,160 = $2,600(U)Materials price variance = Actual quantity (AQ) × (Actual price (AP) - Standard price (SP))= 1,700 pounds × ($2.80 - $2.70) = $170(F)Materials quantity variance = (Actual quantity (AQ) - Standard quantity (SQ)) × Standard price (SP)= (1,700 - 320) × $2.70 = $1,674(F)Part 2: Labor Direct labor :Total labor variance = Actual cost - Standard cost= $22,892 - $23,040 = $148(F)Labor price variance = Actual hours (AH) × (Actual rate (AR) - Standard rate (SR))= 1,940 hours × ($11.80 - $12) = $388(U)Labor quantity variance = (Actual hours (Atotal variance H) - Standard hours (SH)) × Standard rate (SR)= (1,940 - 1,920) × $12 = $240(F)
The calculations for the variances of materials and labor are given above. Here, the is the sum of the price and quantity variances. If the difference between the actual cost and standard cost is negative, it is unfavorable variance. If the difference is positive, it is favorable variance. The computations for total materials variance, materials price variance, materials quantity variance, total labor variance, labor price variance, and labor quantity variance are presented above.
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How are ratio the below ratio analysis and decision making ( either short term or long term) used in a financial services company and how do they add value? ROE, EBITDA, Gearing and liquidity. please be cognizant that ratios are of no use in isolation when drafting the answer. comparison to prior years, competitors and industry averages are needed.
Ratio analysis is an essential tool used in financial services companies to assess the financial performance and health of a company.
It provides valuable insights into various aspects of the company's operations and helps in decision-making, both in the short term and long term. When evaluating ratios, it is crucial to consider historical trends, compare them to competitors, and analyze industry averages for a comprehensive understanding. Let's explore how the following ratios (ROE, EBITDA, Gearing, and Liquidity) are used and their value in decision-making:
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Why are support claims statements used? Pick an example of an ad
that utilizes this strategy to justify your response.
One example of an ad that utilizes this strategy is an advertisement for a skincare product claiming to reduce the appearance of wrinkles.
Support claims statements are used in advertising to provide evidence or reasons that back up the claims made about a product or service. These statements aim to persuade consumers by providing factual information, testimonials, expert opinions, or research data that support the benefits or superiority of the advertised product. By including support claims, advertisers seek to enhance credibility, build trust, and influence purchasing decisions.
One example of an ad that utilizes support claims is an advertisement for a skincare product claiming to reduce the appearance of wrinkles. The ad may include statements such as:
"Backed by 10 years of scientific research, our advanced formula is clinically proven to visibly reduce wrinkles by up to 50%."
In this example, the support claim highlights the scientific research conducted on the product and the specific percentage reduction in wrinkles achieved. By including this claim, the advertiser provides a tangible and verifiable basis for the product's effectiveness, appealing to consumers who are seeking evidence-based solutions.
This support claim serves to justify the product's claims and gives potential customers more confidence in its efficacy. It provides a factual and persuasive element to the advertisement, helping consumers make informed decisions and reinforcing the product's value proposition.
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Which calculation determines a firm's gross profit margin? O Total revenue divided by net income O Gross profit divided byrevenue O Gross profit divided by total sales ONet income divided by total sales 43 A privately held retail company needs to secure lowest-cost funding to build up inventory. Which short-term funding option should this company use first? Bank line of credit Trade credit Commercial paper Commercial bank loan
The calculation that determines a firm's gross profit margin is: Gross profit divided by revenue.
The gross profit margin is a measure of a company's profitability.
It represents the percentage of total sales revenue that exceeds the cost of goods sold (COGS). The higher the gross profit margin, the better for the company's bottom line. To calculate gross profit, subtract COGS from total revenue.
The formula for calculating gross profit margin is as follows:
Gross profit margin = (gross profit / total revenue) x 100
Regarding the second question, the short-term funding option that a privately held retail company should use first to build up inventory is trade credit. Trade credit is a financing option that enables a supplier to sell goods or services to a customer on credit terms, meaning that the customer will pay for the goods or services at a later date.
Trade credit is one of the most common types of short-term financing utilized by retailers to build up inventory. It allows retailers to obtain inventory without having to pay upfront, which can help them manage their cash flow better.
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At year-end 2000, S&P 500 was at 1320.28. By year-end 2001, it was at 1148.08. Based on these values, what was the return for S&P 500 during year 2001? Assume no additional dividends during the holding period.
A.)15.00%
B.)13.04%
C.)5.04%
D.)18.04%
The return for S&P 500 during the year 2001 is -13.04%.
To calculate the return for S&P 500 during the year 2001, we use the following formula:
Return = (Ending Value - Beginning Value) / Beginning Value * 100%
Beginning Value (year-end 2000): 1320.28
Ending Value (year-end 2001): 1148.08
Return = (1148.08 - 1320.28) / 1320.28 * 100%
Return = -13.04%
Therefore, the correct answer is option b.
The term "return" refers to the financial gain or loss that an investment or business activity generates over a specific period. It represents the profit or loss earned on an investment relative to the amount of capital invested. Return is typically expressed as a percentage or a ratio.
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Why customer profiles consist of questions that should be
properly thought out to uniquely fit the customer regardless of B2C
or B2B?
Customer profiles consist of questions that should be properly thought out to uniquely fit the customer, regardless of whether it is a business-to-consumer (B2C) or business-to-business (B2B) context.
This is because understanding the customer is essential for effective marketing and customer engagement strategies. Here are some reasons why customer profiles require thoughtful and unique questions: Tailoring the Offering: By asking specific questions, businesses can gather information about the customer's needs, preferences, and pain points. This information helps in customizing the product or service offering to meet the unique requirements of each customer. It allows businesses to provide personalized solutions, resulting in higher customer satisfaction and loyalty.
Effective Communication: Customer profiles enable businesses to communicate with their customers in a way that resonates with them. By understanding their language, communication style, and preferred channels, businesses can deliver targeted and relevant messages. This helps in capturing the customer's attention, building rapport, and establishing a stronger connection.
Segmenting the Market: Customer profiles aid in market segmentation, where customers are grouped based on shared characteristics or behaviors. By identifying distinct segments within the target market, businesses can tailor their marketing strategies and messages to address the specific needs and preferences of each segment. This leads to more effective marketing campaigns and higher conversion rates.
Relationship Building: Building strong relationships with customers is crucial for long-term success. Customer profiles help in understanding the customer's background, interests, and values. This knowledge allows businesses to engage in meaningful conversations, demonstrate empathy, and establish trust. It also helps in identifying opportunities for cross-selling or upselling based on the customer's individual circumstances.
Anticipating Customer Needs: Customer profiles enable businesses to anticipate the evolving needs of their customers. By analyzing past behavior, purchase history, and preferences, businesses can identify patterns and trends. This information helps in proactively offering relevant products or services, making timely recommendations, and staying ahead of the competition.
Improving Customer Experience: Understanding the customer at a deeper level helps businesses enhance the overall customer experience. By knowing their pain points, challenges, and goals, businesses can align their processes, services, and support systems to provide a seamless and satisfying experience. This leads to increased customer loyalty, positive word-of-mouth, and a competitive advantage.
Regardless of B2C or B2B, customers are individuals with unique needs and expectations. Properly thought-out questions in customer profiles allow businesses to gain insights into their customers' specific requirements and tailor their offerings and strategies accordingly. This customer-centric approach fosters stronger relationships, better engagement, and ultimately, improved business performance.
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List at least three special considerations when seeking
international sources of materials. Compare how each differs from
doing business only within the United States.
When seeking international sources of materials, there are several special considerations to be aware of. Some of these include differences in culture, legal compliance, and logistics.
First, culture can play a significant role in how business is conducted in different countries. It is important to understand the cultural norms and customs of the country you are working with in order to properly negotiate deals and maintain positive relationships.
Additionally, legal compliance can be more challenging when working with international sources.
The laws and regulations of different countries can vary significantly, and it is important to ensure that your business practices align with the laws of your overseas partners to avoid potential legal issues.
Finally, logistics can also prove to be a challenge when sourcing materials internationally. In addition to shipping and transportation costs, there may be hurdles to clear in terms of import and export regulations, customs procedures, and language barriers.
In contrast, when doing business only within the United States, these challenges are typically less pronounced due to the common language, shared legal framework, and standardized logistics practices in place.
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International trade continues to grow. This is likely due to: a politics in China and the price of oil. b the political climate and cell phone usage c costs and competition. d climate change and wireless communication
The correct answer is (c) costs and competition.
Costs are a major driver of international trade. As transportation and communication costs have decreased, it has become easier and cheaper for businesses to source goods and services from other countries. This has led to an increase in the number of goods and services that are traded internationally.
Competition is another factor that is driving international trade. As businesses from different countries compete with each other, they are forced to become more efficient and innovative. This has led to a decrease in prices and an increase in the quality of goods and services that are available to consumers.
Other factors that are contributing to the growth of international trade include:
The reduction of trade barriersThe growth of global marketsThe increasing demand for goods and services from emerging economiesIn addition to these factors, there are a number of other factors that could potentially impact the growth of international trade in the future, such as climate change and technological advancements.
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involves the introduction of normal functional genes into cells of people with genetic diseases such as sickle cell anemia and cystic fibrosis
Gene therapy is a rapidly developing field that holds great promise for treating genetic diseases and improving the quality of life of millions of people worldwide.
Gene therapy involves the introduction of normal functional genes into cells of people with genetic diseases such as sickle cell anemia and cystic fibrosis. These genes are delivered to the cells using a vector that can be a virus or a synthetic molecule. Once inside the cells, the normal functional genes take over the function of the defective genes, thus correcting the genetic disorder.
Gene therapy is a technique that involves replacing or supplementing faulty genes with healthy ones to treat or cure genetic diseases. It is a promising therapeutic approach that has the potential to address a wide range of genetic disorders, including sickle cell anemia and cystic fibrosis. Gene therapy works by introducing a functional copy of the defective gene into the cells of the affected individual. The functional gene can be delivered using a vector, such as a virus or a synthetic molecule.
In conclusion, gene therapy is a rapidly developing field that holds great promise for treating genetic diseases and improving the quality of life of millions of people worldwide.
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Which construction sector has the highest establishment failure rate? A) Specialty contractors B) Heavy and civil construction C) Residential OD) Non-residential building
The residential sector has highest establishment failure rate. This is because the residential sector is vulnerable to changes in market conditions, such as fluctuating interest rates and changes in government policies regarding housing. Correct answer is option C
As a result, the residential sector is highly cyclical and can experience significant booms and busts that can lead to the failure of businesses that are unable to adapt to these changing conditions.The residential sector includes contractors that are involved in building single-family homes, multifamily dwellings, and other residential buildings.
Because residential construction is largely driven by consumer demand, businesses in this sector are particularly susceptible to changes in market conditions. When demand for housing is high, businesses in this sector can experience significant growth and profitability.
However, when demand falls or the market becomes oversaturated, businesses may struggle to find work and generate revenue, which can lead to failure. Furthermore, businesses in the residential sector may face additional challenges such as rising material and labor costs, which can further erode profitability and contribute to establishment failure. Correct answer is option C
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Analyze "Risk-taking behavior" in understanding Hofsted's work on cross-cultural prospective. How does this help companies in managing international environment? Is it wright to say that there are substantial difference in how people in different nations are motivated to work? Explain your arguments. Discuss different cultural orientations of home-country companies that determine the degree of cultural adaptability?
Risk-taking behavior is an important aspect to consider when analyzing Hofstede's work on cross-cultural perspectives. Hofstede's cultural dimensions provide insights into how different cultures value risk-taking and uncertainty. This understanding helps companies in managing the international environment by enabling them to tailor their strategies and operations to suit the risk preferences of specific cultures.
Hofstede's cultural dimensions, particularly the dimension of uncertainty avoidance, shed light on the extent to which individuals within a culture are willing to take risks. Some cultures exhibit a high uncertainty avoidance, where individuals prefer structured environments and are more risk-averse. In contrast, other cultures may have a lower uncertainty avoidance, indicating a greater willingness to take risks and embrace ambiguity.
Understanding these differences in risk-taking behavior allows companies to adapt their approaches accordingly. In high uncertainty avoidance cultures, companies may need to provide more detailed plans, clear guidelines, and assurances to gain trust and mitigate perceived risks. In contrast, in low uncertainty avoidance cultures, companies can be more flexible and open to experimentation, allowing for more innovative and entrepreneurial activities.
By considering risk-taking behavior as part of Hofstede's cross-cultural framework, companies can better manage the international environment. Tailoring strategies to align with cultural orientations towards risk helps companies navigate diverse markets, build trust, and adapt to local preferences. Recognizing substantial differences in how people in different nations are motivated to work is essential, as it allows companies to avoid ethnocentrism and adopt a culturally sensitive approach. Cultural adaptability is influenced by various factors, including a company's home-country cultural orientation. Companies that have a high degree of cultural adaptability tend to possess cultural intelligence, embrace diversity, and invest in cross-cultural training and awareness. Such adaptability enables them to successfully operate and manage international teams in a diverse range of cultural contexts.
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BestBurger has determined that their business unit devoted to French fries is a star according to the Boston Consulting Group growth-share matrix. Which of the following strategies will likely produce the best results?
Group of answer choices
Raise the costs of the fries to increase profits.
Immediately divest from French fries, and focus on onion rings
Harvest as much cash as possible from the fries before shutting the business unit down
Increase the investment in promoting the fries to encourage future growth
The strategy that will likely produce the best results for BestBurger, whose business unit devoted to French fries is a star according to the Boston Consulting Group growth-share matrix, is to increase the investment in promoting the fries to encourage future growth. The correct answer is: Increase the investment in promoting the fries to encourage future growth.
Boston Consulting Group's growth-share matrix is a tool used by companies to assess their product line and determine the appropriate strategies for different products. It has four categories, including question marks, stars, cash cows, and dogs. Question marks are products that have low market shares in high-growth markets. They require significant investments to grow. Stars are products with high market shares in high-growth markets. They are strong players in the market but need a lot of investment to keep them that way.
Cash cows are products with high market shares in low-growth markets. They have established positions and generate a lot of cash for the company. Dogs are products with low market shares in low-growth markets. They are weak players that generate low profits. Based on the above, since BestBurger's business unit devoted to French fries is a star, it implies that the unit is currently generating a lot of income for the company and needs more investments to maintain its position.
The best strategy that will produce the best results for the company, therefore, is to increase the investment in promoting the fries to encourage future growth. This strategy will help to increase the product's popularity and expand its market share, leading to more sales, revenue, and profits for the company.
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