Limitations of bargaining include all of the responses are correct. The answer is a.
There are several limitations of bargaining, including:
Bargaining limitations occur when parties cannot reach a mutually acceptable agreement. It may be as a result of the negotiators' position or actions or some constraints beyond their control.
Here are some bargaining limitations:
Too much information: It happens when parties have so much information that bargaining is unnecessary. Bargaining is less likely when the parties already have a lot of information and are aware of their choices.
Contract enforcement: When the other side does not hold up their end of the deal, bargaining may be limited. A party who reneges on the deal often puts the other party in a weak position, and there may be no legal recourse to enforce the agreement.
Ambiguity of property rights: Bargaining may be limited if property rights are unclear or if property rights are not well defined. Property rights may be unclear when ownership is divided among several parties or if ownership cannot be easily defined.
Forcing contracts: Contracts may not need to be enforced in some cases. It could be because it is not possible to force a party to comply with the agreement, or there is a penalty for noncompliance that would exceed the benefits of compliance.
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Which of the following are financial markets? Select all that apply. NYSE Best large-cap ETF - Vanguard S&P 500 Growth ETF (VOOG) NASDAQ Bank of America
The following options are financial markets:
1. NYSE (New York Stock Exchange)
2. NASDAQ (National Association of Securities Dealers Automated Quotations)
Financial markets are platforms or exchanges where various financial instruments, such as stocks, bonds, commodities, and derivatives, are traded. Both NYSE and NASDAQ are prominent stock exchanges where stocks of publicly listed companies are bought and sold.
The remaining option, "Bank of America," is a financial institution or a company operating within the financial industry, but it is not a financial market itself.
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the close of a report should group of answer choices bring all action items together and give details about who should do what, when, where, and how. tell the reader what will happen if they don't implement what was discussed in the paper. explain why you are passionate about making the proposed changes. include new data for one last, meaningful impact. end with an insightful quote, fact or statistic.
The close of a report should include the following components: Group all action items together and provide details about who should do what, when, where, and how.
Also, it should tell the reader what will happen if they don't implement what was discussed in the paper. You must explain why you are passionate about making the proposed changes. By doing so, you will inspire your readers to follow in your footsteps. You can include new data that will leave a significant impact on the reader. This last meaningful impact will aid in persuading the reader and making them believe in the proposed changes. You can end with an insightful quote, fact, or statistic that will leave a lasting impact on the reader. The use of a quote, fact or statistic will help to reinforce your points and encourage the reader to make a change in the proposed direction.
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Which of the following interpersonal conflict management styles represents a purely win-win orientation? A forcing B yielding avoiding problem solving
Among the following interpersonal conflict management styles, problem-solving represents a purely win-win orientation.
Interpersonal conflict is a kind of conflict that takes place between two or more people who possess different ideas, aims, or beliefs. It can arise due to a variety of reasons, including social, cultural, or personal differences.The following interpersonal conflict management styles exist:Forcing: This conflict management style is focused on using power and authority to force the other person into agreeing with you. The forcing style of conflict management results in a "lose-lose" scenario.Yielding: Yielding is a conflict management style that entails giving in to the other person's demands or needs. In such a situation, the yielding person can appear to be a "loser."
Avoiding: Avoiding is a conflict management style that entails avoiding the situation entirely. The Avoiding style of conflict management may result in a "lose-lose" situation.Problem-solving: In a problem-solving conflict management style, both parties come together to solve the problem through negotiation. This conflict management style is entirely focused on win-win scenarios, and both parties emerge as winners.As per the above analysis, we can conclude that among the following interpersonal conflict management styles, problem-solving represents a purely win-win orientation, and hence it is the correct option.
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QUESTION 21
Georgia International's EBIT is 8000, assuming their COGS is 2000 and depreciation is 450, what are the company's sales?
O a. 10450
O b. 5550
O c. 9550
O d. None of the above.
The answer choices may contain errors or discrepancies. Nevertheless, based on the calculations, the correct sales amount is $10,450.
The company's sales can be calculated based on the provided information of Georgia International's EBIT (Earnings Before Interest and Taxes), COGS (Cost of Goods Sold), and depreciation. Let's break down the calculations to determine the company's sales.
First, let's understand the components involved. EBIT represents the operating profit of a company, which is the profit generated before accounting for interest and taxes. COGS represents the direct costs associated with producing the goods sold by the company. Depreciation is a non-cash expense that accounts for the decrease in value of the company's assets over time.
To calculate the company's sales, we need to add the COGS and depreciation to the EBIT. The reason for this is that EBIT is derived from the equation:
EBIT = Sales - COGS - Depreciation
By rearranging this equation, we can find the sales:
Sales = EBIT + COGS + Depreciation
Now, let's substitute the given values into the equation. The EBIT is given as $8,000, the COGS is $2,000, and the depreciation is $450.
Sales = $8,000 + $2,000 + $450
Sales = $10,450
Therefore, the company's sales amount is $10,450.
The correct answer is option (a) $10,450.
It's important to note that the provided answer choices in the question are not consistent with the calculated sales figure. The closest option is option (a) with a value of 10,450. However, it's worth mentioning that the given answer choices may contain errors or discrepancies. Nevertheless, based on the calculations, the correct sales amount is $10,450.
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Analtech Inc. is going to purchase equipment for $187,500. The equipment will be depreciated using the declining balance method with a depreciation rate of 20%. What is the depreciation expense in the second year after the equipment's purchase? Check Answer Schwing America Inc. had not fixed assets of $1,400,000 at the end of last year. It plans to purchase capital equipment worth $266,666 this year. It uses a declining balance depreciation method with an average depreciation rate of 15%. What will its depreciation expense be this year? Round your answer to the nearest whole number
To calculate the depreciation expense in the second year for Analtech Inc., we'll use the declining balance method with a depreciation rate of 20%.
Depreciation expense in the second year = (Depreciation rate) × (Net book value at the beginning of the year)
In the first year, the depreciation expense would be:
Depreciation expense in the first year = (20%) × ($187,500) = $37,500
The net book value at the beginning of the second year would be:
Net book value at the beginning of the second year = (Purchase cost) - (Accumulated depreciation)
= $187,500 - $37,500
= $150,000
Now we can calculate the depreciation expense in the second year:
Depreciation expense in the second year = (20%) × ($150,000) = $30,000
Therefore, the depreciation expense in the second year for Analtech Inc. is $30,000.
Now let's calculate the depreciation expense for Schwing America Inc. this year.
Given:
Initial fixed assets = $1,400,000
Capital equipment purchase this year = $266,666
Average depreciation rate = 15%
To calculate the depreciation expense, we'll use the declining balance method with an average depreciation rate of 15%.
Depreciation expense for this year = (Average depreciation rate) × (Initial fixed assets + Capital equipment purchase)
Depreciation expense for this year = (15%) × ($1,400,000 + $266,666) = (15%) × ($1,666,666) ≈ $250,000
Rounding the answer to the nearest whole number, the depreciation expense for Schwing America Inc. this year will be approximately $250,000.
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Bad publicly is a crossroad for a company's brand. Was SANY Company able to regain their footing? If so what steps were taken to reestablish their brand?
SANY Company was able to regain its footing after facing bad publicity by implementing a comprehensive brand reestablishment strategy.
SANY Company took several steps to reestablish its brand after experiencing bad publicity. Firstly, they conducted a thorough analysis of the reasons behind the negative perception and identified the areas that needed improvement. They then focused on enhancing their products and services, investing in research and development, and ensuring high-quality standards across their offerings. SANY Company also prioritized transparent communication and engagement with their customers, addressing concerns and actively seeking feedback to build trust and credibility. They leveraged digital platforms and social media to promote their positive initiatives, highlighting their commitment to innovation, sustainability, and customer satisfaction. Additionally, SANY Company collaborated with reputable organizations and industry influencers to showcase their expertise and build a positive reputation. By implementing these strategic measures, SANY Company successfully regained its footing and rebuilt its brand image.
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XYZ uses variance analysis to evaluate manufacturing overhead in its table factory. Information for its May overhead is as follows:
Budgeted output units........................................................... 14,000 tables
Budgeted fixed manufacturing overhead.............................. $22,400
Budgeted variable manufacturing overhead......................... $3.00 per direct labour hour
Budgeted direct labour hours................................................ 0.2 hours per table
Fixed manufacturing costs incurred ..................................... $24,000
Direct labour hours used ...................................................... 4,000 hours
Variable manufacturing costs incurred ................................. $11,000
Actual units manufactured .................................................... 15,000 tables
Required: See next page.
Please calculate the following items:
Answers:
Variable manufacturing overhead spending variance.
Variable manufacturing overhead efficiency variance.
Fixed manufacturing overhead spending variance.
Fixed manufacturing overhead production-volume variance.
Total Under- or Over-Allocated Overhead (specify which).
Based on the provided information, the calculated values are as follows: Variable manufacturing overhead spending variance is $2,000 favorable, variable manufacturing overhead efficiency variance is $1,000 unfavorable, fixed manufacturing overhead spending variance is $1,600 unfavorable, fixed manufacturing overhead production-volume variance is $4,000 favorable, and there is an under-allocation of overhead.
To calculate the variances, we need to compare the actual costs and activity levels with the budgeted amounts. Here are the calculations for each variance:
Variable manufacturing overhead spending variance:
Actual variable manufacturing overhead = $11,000
Budgeted variable manufacturing overhead = $3.00 per direct labor hour * 4,000 direct labor hours = $12,000
Variance = Actual variable manufacturing overhead - Budgeted variable manufacturing overhead
Variance = $11,000 - $12,000
Variance = -$1,000 (Unfavorable)
Variable manufacturing overhead efficiency variance:
Actual direct labor hours used = 4,000 hours
Budgeted direct labor hours = 0.2 hours per table * 15,000 tables = 3,000 hours
Variance = (Actual direct labor hours used - Budgeted direct labor hours) * Budgeted variable manufacturing overhead rate
Variance = (4,000 - 3,000) * $3.00
Variance = $3,000 (Unfavorable)
Fixed manufacturing overhead spending variance:
Actual fixed manufacturing overhead = $24,000
Budgeted fixed manufacturing overhead = $22,400
Variance = Actual fixed manufacturing overhead - Budgeted fixed manufacturing overhead
Variance = $24,000 - $22,400
Variance = $1,600 (Unfavorable)
Fixed manufacturing overhead production-volume variance:
Actual units manufactured = 15,000 tables
Budgeted output units = 14,000 tables
Budgeted fixed manufacturing overhead = $22,400
Variance = (Actual units manufactured - Budgeted output units) * (Budgeted fixed manufacturing overhead / Budgeted output units)
Variance = (15,000 - 14,000) * ($22,400 / 14,000)
Variance = $4,000 (Favorable)
Total Under- or Over-Allocated Overhead:
The under- or over-allocated overhead is calculated by subtracting the total overhead applied from the actual overhead incurred.
Actual overhead incurred = Actual variable manufacturing overhead + Actual fixed manufacturing overhead
Actual overhead incurred = $11,000 + $24,000 = $35,000
Total overhead applied = Budgeted variable manufacturing overhead + Budgeted fixed manufacturing overhead
Total overhead applied = $12,000 + $22,400 = $34,400
Under- or Over-Allocated Overhead = Actual overhead incurred - Total overhead applied
Under- or Over-Allocated Overhead = $35,000 - $34,400
Under- or Over-Allocated Overhead = $600 (Under-allocated)
Therefore, the calculated values are: Variable manufacturing overhead spending variance is $2,000 favorable, variable manufacturing overhead efficiency variance is $1,000 unfavorable, fixed manufacturing overhead spending variance is $1,600 unfavorable, fixed manufacturing overhead production-volume variance is $4,000 favorable, and there is an under-allocation of overhead by $600.
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Suppose a perfectly competitive market is in equilibrium and demand for the product decreases O in the long-run some firms will exit and profit will eventually be positive. in the long-run some firms will enter and profit will eventually be zero. in the long-run some firms will enter and profit will eventually be positive. O in the long-run some firms will exit and profit will eventually be zero.
Suppose a perfectly competitive market is in equilibrium and demand for the product decreases. In the long-run, some firms will exit and profit will eventually be zero.
When the demand for the product decreases, there is a surplus of the product which causes the price to decrease. This reduces revenue for the firms in the market, leading to a decrease in profit. If the price is lower than the average total cost, then firms will suffer losses and exit the market.Suppose a perfectly competitive market is in equilibrium and demand for the product decreases. In the long-run, some firms will exit and profit will eventually be zero. In the long-run, the firms that remain in the market will produce the efficient scale, and the price will equal the minimum average total cost. Firms will earn zero economic profit because their revenue will be equal to their cost. However, some firms may continue to earn normal profits.Suppose a perfectly competitive market is in equilibrium and demand for the product decreases. In the long run, some firms will exit and profit will eventually be zero. Hence, the correct answer is: in the long-run some firms will exit and profit will eventually be zero.
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Name the three forms of organization. Explain which one will you choose for your business and why? (Minimum 3 sentences needed for explanation).
The three forms of organization are sole proprietorship, partnership and corporation. One you will choose for your business is corporation to get funds from multiple investors
Sole proprietorship is the easiest and simplest form of business entity, where an individual owner manages all the business functions, but the owner has unlimited personal liability. Partnership is similar to a sole proprietorship, but with two or more owners, and all partners share the profits and losses of the business while limiting their personal liability.Corporation is a separate legal entity with shareholders who own the company. Corporation business owners have limited liability, meaning their personal assets are not at risk if the company is sued.
They also have perpetual existence meaning that the corporation can continue to operate regardless of the owner's status. Choosing the right type of organization for your business is critical for your business success. If you want to maintain control over your business and have limited capital and resources, then a sole proprietorship or partnership is an excellent choice. If you want to raise funds from multiple investors and have limited liability, a corporation is the best choice. So therefore sole proprietorship, partnership and corporation are three forms of organization, the corporation is best choice to get funds from multiple investors.
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Suppose that in a closed economy GDP is equal to 11,000, taxes are equal to 2,500, consumption equals 7,000, and government purchases equal 3,000. What are private saving and public saving? Answers: 1,500 and -500, respectively 1,500 and 500, respectively 1,000 and -500, respectively 1,000 and 500, respectively
Private saving is 1,500 and public saving is -500. Private saving is GDP minus consumption and taxes: 11,000 - 7,000 - 2,500 = 1,500. Public saving is taxes minus government purchases: 2,500 - 3,000 = -500.
Private saving represents the portion of income that households save after deducting their consumption expenditures. In this case, private saving is 1,500, which means households are saving 1,500 out of their income. This represents the accumulation of financial resources by the private sector.
Public saving, on the other hand, represents the difference between government revenue (taxes) and government expenditures (government purchases). In this case, public saving is -500, indicating that government expenditures exceed tax revenue by 500. This implies that the government is running a budget deficit, as its spending exceeds its revenue.
Overall, private saving contributes to the pool of funds available for investment and capital accumulation in the economy, while public saving reflects the fiscal position of the government.
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What is digital marketing? a. Digital marketing is a B2C method of engaging consumers. b. Digital marketing only uses social media platforms to advertise to consumers. c. Digital marketing is a channel to advertise to consumers on their smart phones. d.. Digital marketing uses social media sites and electronic billboards to advertise to consumers. e. Digital marketing encompasses all marketing efforts that use an electronic device or the internet
Digital marketing encompasses all marketing efforts that use an electronic device or the internet. The statement is true.
So, the answer is E.
What is digital marketing?Digital marketing is a type of marketing that is done on the internet or using electronic devices. This type of marketing encompasses all marketing efforts that are done on digital channels such as social media, email, search engines, mobile apps, and websites to reach the audience.
For instance, digital marketing encompasses search engine optimization (SEO), social media marketing, email marketing, influencer marketing, and content marketing.
These are methods to attract, engage and convert prospects and customers by leveraging online channels. Thus, it is a great channel for businesses to expand their reach, boost brand awareness, and drive sales.
Hence , the answer of the question is E.
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The demand function for Florida Orange Juice follows: Q=20,000-10,000 PJ + 20,000 Ps + 2,000 1 + 500 T Where: Pj is average price of orange juice in dollars, expected value is $2.85. Ps is average price of canned soda in dollars, expected value is $1.45. I is the average income level in thousands of dollars, expected value is $56,000. T is the average daily high temperature in degrees, expected value is 84 degrees. 1. Derive the demand curve for orange juice. 2. Derive the inverse demand curve and total revenue function. 3. Maximize total revenue. Determine the quantity, price, and total revenue.
Values of Pj, Ps, I, and T into the Simplifying the equation yields Q = 15,150 units.
To derive the inverse demand curve, we need to solve the demand function for Pj. Rearranging the equation.
The total revenue function can be derived by multiplying the quantity (Q) by the price (Pj): TR = Q * Pj. Substituting the inverse demand.
To maximize total revenue, we need to find the quantity that maximizes the total revenue function. This can be achieved by taking the derivative of the total revenue function with respect to Q and setting it equal to zero. Solving for Q will give us the quantity that maximizes total revenue.
Once the optimized quantity is, can substitute it into the inverse demand curve equation to find the corresponding price. Total revenue can then be calculated by multiplying the optimized quantity by the corresponding price.
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Identify the following purposes of ethnographic film as distinctive to contemporary ethnographic film or characteristic of both classic and contemporary ethnographic film.
Distinctive Purpose of Contemporary Ethnographic Film
to show local communities in global contexts
to portray a web of relationships between humans, environments, and globalization
Characteristic of Both Contemporary and Ethnographic Film
mastering available visual technologies for use in ethnographic research
to demonstrate how images can be useful for ethnographic analysis
Ethnographic film as a genre of anthropological filmmaking has developed over the years, characterized by its multifaceted purposes, use of technology, and its contribution to the field of ethnography.
This discussion identifies two distinctive purposes of contemporary ethnographic films and two characteristics of both classic and contemporary ethnographic films.Contemporary ethnographic films have a distinctive purpose of showing local communities in global contexts. In the current world order, people are becoming more interconnected, and borders between countries are slowly dissolving.
Ethnographic films help to show how different communities relate to globalization, their level of adaptation and how globalization influences their culture. Another distinctive purpose of contemporary ethnographic films is to portray a web of relationships between humans, environments, and globalization.
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Marginal revenue for a perfectly competitive firm: Multiple Choice a is greater than price. b is equal to price. c may be either greater or less than price. d is less than price.
The correct answer is b) is equal to price. Marginal revenue for a perfectly competitive firm is equal to price.
In a perfectly competitive market, a firm is a price taker, meaning it has no control over the price and must accept the market price as given.
Since each additional unit sold by a perfectly competitive firm adds the same amount of revenue equal to the market price, the marginal revenue is equal to the price.
This is because a perfectly competitive firm can sell as much quantity as it wants at the prevailing market price without affecting the price itself.
Therefore, the statement that marginal revenue for a perfectly competitive firm is equal to price is accurate and reflects the characteristics of a perfectly competitive market structure.
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Create a simple 0, 1 integer model for a situation or
problem you face in your life. Is there an optimal solution for
your problem? What type of model would you use to create an optimal
solution? Expl
A simple 0,1 integer model for a situation is an optimization model that either selects or rejects an alternative, given that there are several alternatives.
An example of a situation that can be modeled using a simple 0,1 integer model is determining whether to go to work/school by car or bike. A decision variable, X, can be created to represent the choice of going to work/school by car or bike. X=1 represents going by car, and X=0 represents going by bike. Further constraints can be added to the model, for instance, time constraints, energy constraints, and budget constraints.
The optimal solution depends on the objective function of the model. If the objective function is to minimize travel time, the optimal solution could be either by car or bike, depending on the traffic conditions and distance. On the other hand, if the objective function is to minimize the cost of commuting, the optimal solution could be to go by bike, which is cheaper than going by car. A linear programming model can be used to create an optimal solution by representing the objective function and constraints as linear equations.
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Your godparents deposited $575 into a savings account on each of your birthdays, starting with your first. This account earned over its life a 4.72 percent compounded annual return. How much is in the account right now assuming you have just turned sixteen?
$20,472
$15,120
$13,298
$11,355
$10,084
The value of the savings account right now assuming you have just turned sixteen is $20,472.Option A) $20,472 is the correct answer.
The value of the savings account after 16 years, with each year having a deposit of $575, and a compounded annual rate of 4.72% can be calculated by the formula below:
`FV = C * ((1 + r / n) ^ (n * t))`Where `FV` is the future value, `C` is the periodic contribution, `r` is the annual interest rate, `n` is the number of times the interest is compounded per year, and `t` is the number of years.
Using the formula, we can find the value of the savings account after 16 years as follows:
FV = $575 * ((1 + 0.0472 / 1) ^ (1 * 16))= $575 * (1.0472 ^ 16)≈ $20,472.
Therefore, the value of the savings account right now assuming you have just turned sixteen is $20,472.Option A) $20,472 is the correct answer.
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Jamie's credit card billing period ends on the 10th of every month. The grace period is 20 days. During what period of time will he receive free credit for a purchase made on July 20? A. 30 days B. 21 days C. 41 days D. 36 days
The correct Option is A. 30 days. If Jamie's credit card billing period ends on the 10th of every month and the grace period is 20 days.
Then he will receive free credit for a purchase made on July 20 during the following period:
July 20 to August 10: This is the period between the date of the purchase and the end of the billing period.
August 11 to August 30: This is the grace period, during which Jamie can pay off the balance without incurring interest charges.
Therefore, the total time during which Jamie will receive free credit for the purchase made on July 20 is 30 days (from July 20 to August 19). The correct answer is A. 30 days.
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A precision lathe costs $11,000 and will cost $21,000 a year to operate and maintain. If the discount rate is 12% and the lathe will last for 5 years, what is the equivalent annual cost of the tool? (Do not round intermediate calculations. Round your answer to 2 decimal places. Enter your answer as a positive value.)
The equivalent annual cost of the precision lathe is $76,151.03 (rounded to 2 decimal places).
To calculate the equivalent annual cost (EAC) of the precision lathe, we need to consider the initial cost, operating and maintenance costs, the discount rate, and the lifespan of the lathe.
The EAC formula is given by:
EAC = Initial cost + Annual operating and maintenance cost * Present value annuity factor
The present value annuity factor can be calculated using the discount rate and the lifespan of the lathe.
Given:
Initial cost (IC) = $11,000
Annual operating and maintenance cost (OMC) = $21,000
Discount rate (r) = 12%
Lifespan (n) = 5 years
First, we need to calculate the present value annuity factor (PVAF) using the discount rate and lifespan:
PVAF = (1 - (1 + r)^(-n)) / r
PVAF = (1 - (1 + 0.12)^(-5)) / 0.12
PVAF = (1 - 0.56743) / 0.12
PVAF = 3.10243
Next, we can calculate the EAC:
EAC = IC + OMC * PVAF
EAC = $11,000 + $21,000 * 3.10243
EAC = $11,000 + $65,151.03
EAC = $76,151.03
Therefore, the equivalent annual cost of the precision lathe is $76,151.03 (rounded to 2 decimal places).
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Gill Enterprises produces a number of consumer items, including a stove. A key component of the stove is purchased from an outside supplier. In total, the company purchases 2 500 components each year. It costs approximately R12 to place an order and it costs R0.25 to carry one part in inventory for a year. The company is operational for 50 weeks in a year. Required: Calculate the reorder point with safety stock included.
To calculate the reorder point with safety stock included, the following formula can be used:Reorder Point (ROP) = (Average Daily Usage × Lead Time in Days) + Safety Stock
The reorder point is a level of inventory at which the company places an order for more products. It ensures that there is sufficient inventory on hand to prevent stock-outs. The reorder point formula includes the average daily usage, lead time, and safety stock.
To find the reorder point with safety stock included, follow these steps:Step 1: Calculate the daily usage of the component.Daily usage = Total usage ÷ Number of working days per year= 2,500 ÷ (50 × 5)= 10Step 2: Calculate the lead time in days.The lead time is the time it takes for the company to receive the order after placing it with the supplier. It is assumed that the lead time is 10 days.Lead time in days = 10Step 3: Calculate the safety stock level.The safety stock is a level of inventory that is held to mitigate the risk of stockouts. It is calculated based on the company's desired service level and demand variability. It is assumed that the safety stock is 5 days of inventory.Safety stock level = Average daily usage × Safety stock in days= 10 × 5= 50Step 4: Calculate the reorder point.Reorder point (ROP) = (Average daily usage × Lead time in days) + Safety stock= (10 × 10) + 50= 150Therefore, the reorder point with safety stock included is 150.
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Imagine that a manufacturing needs to produce 270 products weekly. The company has three manual manufacturing processes P, Q and R. To finalize a product in process P requires 1 person with18 minutes;, Q in 30 minutes and R in 12 minutes. The company has 2 people in area P, 4 people in area Q and 2 people in area R Identify is there any Mura? If yes, how to solve it?
Mura is a Japanese word that translates to "unevenness" or "inconsistency" in English. It is a term used in the manufacturing industry to describe waste that arises when the production system is unbalanced or unpredictable.
The company you mentioned in the question is producing 270 products per week. This is a very consistent number that implies that there is no Mura in the production process. The company has two people in area P, four people in area Q, and two people in area R. The time required to complete each product in each of the three processes is also provided in the question. Therefore, we can easily calculate how long it would take to manufacture 270 products per week. Let's start by calculating the time required to complete one product in each of the three processes. P = 1 person × 18 minutes = 18 minutes Q = 1 person × 30 minutes = 30 minutes R = 1 person × 12 minutes = 12 minutes to produce one product, we need to add the time taken by all three processes. P + Q + R = 18 + 30 + 12 = 60 minutes Therefore, it takes 60 minutes to manufacture one product. Now, let's calculate the total time required to manufacture 270 products per week. Total time = 270 products × 60 minutes per product= 16200 minutes per week This is the total amount of time required to manufacture 270 products per week.
We now need to see if the manufacturing process is consistent across all areas or not. P: 2 persons × 60 minutes per hour × 40 hours per week = 4800 minutes per week Q: 4 persons × 60 minutes per hour × 40 hours per week = 9600 minutes per week R: 2 persons × 60 minutes per hour × 40 hours per week = 4800 minutes per week The time required for each area is calculated by multiplying the number of people by the amount of time each person spends on each product. We then multiply the result by the number of hours worked per week. Let's add up the total time required for all three areas. P + Q + R = 4800 + 9600 + 4800 = 19200 minutes per week This is the total amount of time required for all three areas. However, we only need 16200 minutes per week to produce 270 products. This implies that there is Mura in the manufacturing process. To solve this problem, we can do one of the following:
1. Hire more people in area P to balance the workload across all areas.
2. Automate some of the processes to reduce the amount of time required to manufacture each product.
3. Redistribute some of the work from Q to P or R to balance the workload across all areas.
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Store A uses the newsvendor model to manage its inventory. Demand for its product is normally distributed with a mean of 500 and a standard deviation of 300. What is its stockout probability if Store A's order quantity is 800 units? Store A uses the newsvendor model to manage its inventory. Demand for its product is normally distributed with a mean of 150 and a standard deviation of 60. What is its expected inventory if Store A's order quantity is 90 units?
The average amount of inventory that a company expects to hold over a given time frame is referred to as expected inventory. It's a metric used by companies to determine how much inventory they should have on hand to satisfy client demand without going overboard.
The anticipated quantity of inventory takes into account a number of variables, including sales projections, production plans, lead times, and desired service levels.
A business can calculate the typical amount of inventory it should keep on hand in order to maintain a continuous flow of goods and satisfy consumer demand by taking these considerations into account.
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Disney builds the self-confidence of its employees by promoting individualism.
True
False
Based on the class lecture, the SERVQUAL service quality dimensions (factors) include:
a. reliability, serviceability, and aesthetics.
b. empathy, assurance, and tangibles.
c. performance, reliability, and durability.
d. tangibles, performance, and responsiveness.
e. assurance, reputation, and features.
According to the SERVQUAL service quality dimensions, the factors include empathy, assurance, tangibles, reliability, and responsiveness. Therefore, option (b) is the correct answer.
The SERVQUAL model is a popular framework for assessing and measuring service quality. It consists of five dimensions or factors that contribute to customers' perception of service quality. These dimensions are:
Empathy: This refers to the ability of service providers to understand and address customers' needs and concerns with care and compassion.
Assurance: This dimension focuses on building trust and confidence in customers by demonstrating knowledge, competence, and professionalism.
Tangibles: Tangibles refer to the physical aspects of the service environment, including facilities, equipment, and appearance, which can influence customers' perceptions of quality.
Reliability: Reliability refers to the ability to consistently deliver the promised service accurately and dependably.
Responsiveness: This dimension relates to the willingness and promptness of service providers to respond to customers' requests, inquiries, and problems.
Based on these dimensions, option (b) - empathy, assurance, and tangibles - correctly represents the SERVQUAL service quality dimensions.
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Understanding global supply chain disruptions: the case of Hanjin Shipping Co., Ltd. Hanjin Shipping Co., Ltd. was a South Korean integrated logistics and container transport provider. The company was among the world's top ten container carriers in terms of capacity, transporting over 100 million tons of cargo annually [1]. Because of the shipping industry's overcapacity and the slowdown in global trade, shipping rates were at an all-time low, putting a lot of strain on the industry. Unfortunately, the persistent decline in worldwide trade following the economic crisis of 2008 led to the demise of its logistics operations, and Hanjin eventually filed for receivership on 31 August 2016. The complete timeline of the company’s bankruptcy may be found here [2]. According to recent studies, Hanjin’s bankruptcy may be attributed to the miscalculation of chartering risk as well as forecast errors and shipping market conditions [4]. Hanjin had approximately 27 subsidiaries or offices in 19 states and districts and had approximately 4,000 creditors, whose claims totalled approximately 10 USD.5 billion. The Hanjin’s bankruptcy is considered the largest ever maritime cross-border insolvency in history [3].The collapse of Hanjin in August 2016 served as a wake-up call for the entire ocean transportation industry. Thousands of ships carrying more than $14 billion in cargo were left stranded at sea, either anchored or just outside their respective countries' territorial waters. The disruption of Hanjin’s logistics operations had an enormous impact on global supply chains and led to ripple effects on worldwide "just-in-time" logistics across all supply chain stakeholders like port authorities, truckers, cargo owners, freight forwarders and equipment providers [5]. The company's ships remained "frozen" and inaccessible for several weeks with some 93 vessels, including 79 container ships, stranded at 51 ports in 26 countries. Several ports around the world refused to accept cargo from Hanjin ships because they feared the shipper would not be able to pay docking fees. The supply-chain chaos unleashed by the Hanjin bankruptcy spread rapidly as terminal operators, ports, cargo handlers, truckers and others refused to handle its cargo for fear they won’t get paid. The bankruptcy took place at an especially inconvenient time for retailers as they were replenishing their inventories with imported items in preparation for a seasonal uptick in Thanksgiving, Christmas, Black Friday, and New Year's sales. Eventually, shippers and retailers were forced to absorb the additional costs of getting Hanjin containers released and re-booked, as well as cargo transloaded to other carriers. Undoubtably, the Hanjin’s bankruptcy illustrates how a major carrier's failure can affect global commerce and supply chains. Based on the information provided in this document and Internet resources:
Question 1 (33,3%): Elaborate on the vulnerabilities of "just-in-time" logistics systems, especially in the case of e-commerce supply chain management.
Question 2 (33,3%): Classify the potential supply chain risks for US retailers based on the 2016 Hanjin’s bankruptcy.
Question 3 (33,3%): Given the heavy disruption caused by the Hanjin’s bankruptcy, comment on the importance of supply chain re-engineering.
The bankruptcy of Hanjin Shipping in 2016 highlighted vulnerabilities in "just-in-time" logistics systems, particularly in the case of e-commerce supply chain management. The collapse of Hanjin disrupted global supply chains, leaving thousands of ships and billions of dollars' worth of cargo stranded at sea. US retailers faced potential supply chain risks, including delays in receiving inventory, increased costs for cargo release and re-booking, and the need to transload cargo to alternative carriers. In light of this disruption, supply chain re-engineering becomes crucial for businesses to mitigate risks, improve resilience, and ensure efficient operations.
Answer 1: "Just-in-time" logistics systems rely on precise coordination and timing to minimize inventory storage and reduce costs. However, they are vulnerable to disruptions like the Hanjin bankruptcy. In e-commerce supply chain management, where timely delivery is crucial, any interruption in the transportation process can have significant consequences. For example, if a retailer heavily relies on a single carrier like Hanjin, its inability to deliver goods can lead to delays in fulfilling customer orders, loss of sales, and damage to customer satisfaction. Additionally, e-commerce retailers often operate on tight schedules and have limited warehousing capabilities. Hence, they are more susceptible to disruptions in logistics operations. Such vulnerabilities highlight the need for diversification in carrier options, building stronger relationships with multiple logistics partners, and having contingency plans in place to address disruptions.
Answer 2: The Hanjin bankruptcy posed several potential supply chain risks for US retailers. Firstly, delays in receiving inventory occurred as Hanjin's ships were stranded, preventing the timely delivery of goods to retailers' distribution centers. This delay affected the ability to restock inventories, potentially leading to stockouts and lost sales during peak seasons like Thanksgiving and Christmas. Secondly, US retailers had to incur additional costs for releasing Hanjin containers and re-booking cargo with alternative carriers. These unexpected expenses could impact their profitability. Thirdly, the need to transload cargo to other carriers added complexity to the supply chain, requiring coordination and adjustments in logistics operations. The Hanjin bankruptcy demonstrated the importance of having contingency plans, diversifying carrier options, and establishing relationships with financially stable shipping companies to mitigate such risks.
Answer 3: The Hanjin bankruptcy highlighted the significance of supply chain re-engineering in response to major disruptions. Supply chain re-engineering involves redesigning processes, optimizing logistics networks, and implementing technologies to enhance efficiency, reduce vulnerabilities, and improve resilience. In the aftermath of Hanjin's collapse, businesses realized the importance of diversifying their carrier base, establishing relationships with financially stable partners, and implementing robust risk management strategies. This includes conducting thorough assessments of supply chain risks, developing contingency plans, and investing in technologies that enable better visibility and control over the movement of goods. Supply chain re-engineering allows companies to identify potential vulnerabilities, strengthen their supply chain networks, and develop agile and adaptable systems that can withstand disruptions. It enables businesses to minimize the impact of unexpected events, ensure continuity of operations, and maintain customer satisfaction even in challenging circumstances.
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While there has been a significant movement towards more online purchasing, it is still very common for consumers to buy from brick-and-mortar stores. As a result, firms must manage product movement through multiple channels at the same time. How do we describe the behavior of consumer who purchase product from multiple different distribution channels? (2 mark)
In the retail landscape, both online and brick-and-mortar channels play a crucial role in consumer purchasing behavior.
Firms are faced with the challenge of managing product movement through multiple distribution channels simultaneously.
The question at hand is how to describe the behavior of consumers who engage in purchasing products from various distribution channels.
Consumers who purchase products from multiple different distribution channels are often referred to as omnichannel shoppers. These shoppers exhibit a behavior known as channel hopping or channel switching, where they seamlessly transition between online and offline channels based on their preferences and convenience. Omnichannel shoppers leverage the benefits offered by each channel, such as the convenience of online shopping and the tactile experience of brick-and-mortar stores. They may research products online and make purchases in-store or vice versa. Understanding the behavior of these consumers is essential for firms to develop effective omnichannel strategies and provide a seamless and integrated shopping experience across all channels.
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These skills refer to the ability to identify relevant issues and recognize their importance, understand the relationships between them, and perceive the underlying causes of a situation a. Human relations skills b. Technical expertise c. Conceptual skills d. Analytical Skills
Analytical skills refer to the ability to identify relevant issues and recognize their importance, understand the relationships between them, and perceive the underlying causes of a situation. The correct answer is option D.
Analytical skills are the capacity to comprehend, evaluate, and solve problems using structured, systematic thinking processes. Analytical skills, also known as problem-solving skills, help to make sense of complicated data and information in order to understand a problem and devise a solution.
Analytical skills involve the ability to gather and evaluate information, identify key components, and analyze data or situations in a logical and systematic manner. It includes critical thinking, problem-solving, and decision-making abilities. Analytical skills allow individuals to break down complex problems, identify underlying causes, and make sound judgments based on evidence and reasoning.
Therefore the correct answer is option D. Analytical skills.
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Bagullat Company provided the following account balances on December 31.2020: Accounts payable, P1.500,000; Bonds payable (due 2023). P2,200,000; Dividends payable, P800.000: Notes payable (due 2021), P2.000,000.
What total amount of current liabilities should be reported?
O P4,300,000
O P5,100.000
O P6,500,000
O P7,800.000
The total amount of current liabilities that should be reported is P4,300,000.
To calculate the total amount of current liabilities, we need to identify the liabilities that are classified as current liabilities.
Current liabilities are obligations that are expected to be settled within one year or the operating cycle, whichever is longer. In the given information, we have the following liabilities:
Accounts payable: P1,500,000 - This represents the amount owed to suppliers for purchases made on credit. It is a current liability.
Dividends payable: P800,000 - This represents the dividends declared but not yet paid to shareholders. It is a current liability.
Notes payable (due 2021): P2,000,000 - Since the due date falls within the next year, it is considered a current liability.
However, the Bonds payable (due 2023) is not considered a current liability because its due date extends beyond the next year.
To calculate the total amount of current liabilities, we add the relevant liabilities:
Total current liabilities = Accounts payable + Dividends payable + Notes payable (due 2021)
Total current liabilities = P1,500,000 + P800,000 + P2,000,000
Total current liabilities = P4,300,000
Therefore, the correct answer is O P4,300,000. The total amount of current liabilities that should be reported is P4,300,000.
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To what extent is selection a strategic element
within the recruitment process?
500 words
Selection, as a strategic element of recruitment, contributes to the overall organizational strategy by identifying the most appropriate candidate who has the knowledge, skills, and abilities to perform the job effectively and efficiently.
Selection plays a significant role in the recruitment process because it helps identify the most qualified candidate who meets the specific job requirements. The strategic element of selection in the recruitment process can be divided into two categories: job analysis and selection methods. Job analysis identifies the critical job requirements, including the skills, knowledge, and abilities required to perform the job.
Selection methods are used to evaluate these requirements in candidates and help in determining which candidate is best suited for the job.
Job analysis is the foundation for the selection process and is a vital strategic element in recruitment. It involves determining the job requirements by analyzing the duties and responsibilities of the job. This analysis helps to create a job description, which outlines the specific qualifications required for the job, such as education, experience, and skills. Job analysis is essential because it ensures that the recruitment process is targeted towards finding candidates who possess the required skills and qualifications.
Job analysis and selection methods ensure that the recruitment process is targeted towards finding the most appropriate candidate who has the knowledge, skills, and abilities to perform the job effectively and efficiently. This strategic element helps to reduce the risk of hiring the wrong candidate and ensures that the recruitment process is cost-effective.
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Analyze the Case Study: A Canadian company had a business negotiation with a Korean company. The Canadian company would sell a kind of product to the Korean company. At the beginning of their negotiation, Korean negotiators blamed their counterpart that the quality of the product was not up to the standard agreed upon by both sides in advance and their reputation was doubtful. Korean company wanted to use this method to overwhelm their counterpart so that they could control the negotiation and force them to make large concessions in price etc. But Canadian negotiators were very unsatisfied with the Korean negotiators' blaming and insisted that their product was up to their country's standard. They pointed out that Korean negotiators blamed them without any evidence so they could not bear it at all. Before the Korean negotiators finished giving their opinions, Canadian negotiators began to retort them and treated Korean negotiators in the same way. Therefore, both sides had a very disputable talk. Questions: 1. In the negotiation, is there anything wrong from the viewpoint of the Canadian company? How about from the viewpoint of the Korean company? 2. What would be the result of the negotiation? Why?
1. Yes, there is something wrong from the viewpoint of the Canadian company, and there is also something wrong from the viewpoint of the Korean company. 2. The result of the negotiation is that both sides had a very disputable talk.
From the Canadian company's viewpoint: They insisted that their product was up to their country's standard. They pointed out that Korean negotiators blamed them without any evidence so they could not bear it at all. Before the Korean negotiators finished giving their opinions, Canadian negotiators began to retort them and treated Korean negotiators in the same way. Therefore, both sides had a very disputable talk. Instead of refuting or arguing back to the Korean negotiators, the Canadian negotiators could listen to them first to show their respect and understand their concerns. This would also provide them with an opportunity to learn more about the Korean market. From the Korean company's viewpoint: They were trying to use their method to overwhelm their counterpart so that they could control the negotiation and force them to make large concessions in price, etc. Instead of trying to deceive their counterparts, the Korean company could focus on making their point respectfully and providing factual evidence to support their claims.
The negotiation ended without any agreement because neither side was willing to concede. The Canadian company believed that their product was of good quality, and the Korean company believed that the Canadian company did not meet the agreed-upon standards. Since both sides believed that they were right, it was impossible to reach an agreement, and the negotiation failed.
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The United Nations Sustainable Development Goals (SDGs) are a call for action by all countries - poor, rich and middle-income - to promote prosperity while protecting the planet. Briefly discuss at least 4 practical environmental sustainability activities that you can do with your class within your school environment (buildings and school grounds) towards achieving Goal 12- Ensure sustainable consumption and production patterns
The United Nations Sustainable Development Goals (SDGs) are a call for action by all countries - poor, rich, and middle-income - to promote prosperity while protecting the planet.
The 12th goal is to Ensure sustainable consumption and production patterns. Here are some practical environmental sustainability activities that you can do with your class within your school environment (buildings and school grounds) towards achieving Goal 12.
1. Start a composting program in your school. Encourage students to bring their biodegradable waste to school, so it can be used to create compost for the school garden or grounds. Composting will reduce the amount of waste going to landfills and help promote sustainable agriculture.
2. Develop a school-wide recycling program. Ensure students have access to recycling bins for paper, plastic, aluminum, and other recyclable materials. Recycling helps reduce waste and conserve resources.
3. Install water-saving fixtures in the school bathrooms. Installing low-flow toilets, faucets, and showerheads can significantly reduce water usage and save money on water bills.
4. Encourage the use of renewable energy sources. Work with school administrators to install solar panels, wind turbines, or other renewable energy sources to power the school. These technologies are becoming more affordable and can help reduce greenhouse gas emissions.
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1) If the rational preferences of a consumer over bundles of (x₁, x₂) satisfies weak monotonicity, which of the bundles below is definitely worse than the bundle x = (5,5)? a) (2,6). b) (4,5). c) (5,1). d) None of the bundles above are definitely worse than x.
Bundle (5,1) is definitely worse than bundle x = (5,5) If the rational preferences of a consumer over bundles of (x₁, x₂) satisfy weak monotonicity.
If consumer preferences satisfy weak monotonicity, then more of either good x₁ or good x₂ is weakly preferred to the same bundle with less of either good. This means that bundle (2,6) is not definitely worse than bundle x = (5,5), since it has more of good x₂.
Similarly, bundle (4,5) is not definitely worse than bundle x = (5,5), since it has more of good x₁.
However, bundle (5,1) is definitely worse than bundle x = (5,5), since it has less of good x₂, and weak monotonicity implies that more of a good is always preferred to less of the same good.
The weak monotonicity of preferences allows us to compare the relative desirability of different bundles of goods in terms of the amounts of each good they contain. In this case, bundle (5,1) is definitely worse than bundle x = (5,5), since it has less of a good, and weak monotonicity implies that more of a good is always preferred to less of the same good. However, we cannot definitively compare bundles (2,6) and (4,5) to bundle x = (5,5) based solely on weak monotonicity.
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