Ensuring suppliers least reflect the purpose of a business rule in the purchase process
The goal of a business rule in the purchasing process is least reflected by ensuring suppliers are satisfied. In order to ensure that the purchasing process is carried out effectively, efficiently, and ethically, business regulations are often put in place. The other choices are all significant components of the procurement process and reflect the goals of any existing business regulations.
These choices represent job separation to prevent fraud, the maintenance of an audit trail to follow the procurement process, and prompt payment of suppliers to preserve goodwill and prevent supply chain disruptions. Nevertheless, rather than being a clear objective or goal that directs the process itself, guaranteeing supplier satisfaction is more of an outcome or effect of the buying process.
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in which way do organizations determine alternatives for working in a particular industry or market?
Organizations determine alternatives for working in a particular industry or market by conducting a SWOT analysis.
A SWOT analysis is a strategic planning tool that assists organizations in identifying their strengths, weaknesses, opportunities, and threats (SWOT). Organizations use SWOT analyses to assess their internal strengths and weaknesses and external opportunities and threats to make informed strategic business decisions.
The SWOT analysis is a powerful tool for assessing the viability of an industry or market, identifying new opportunities, and highlighting potential threats. The SWOT analysis is used in three steps:
Step 1: Define the Objectives: The first step is to define the objectives of the analysis.
Step 2: Conduct an Analysis: The second step is to conduct a thorough SWOT analysis.
Step 3: Formulate Strategic Alternatives: The third step is to formulate strategic alternatives based on the results of the analysis.
The SWOT analysis will provide valuable insights into the viability of a particular industry or market and will help organizations determine the best alternatives for working in that industry or market.
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if the expected market rate of return is 0.09 and the risk-free rate is 0.08, which security would be considered the better buy and why?
The security with a higher expected market rate of return would be the better buy because the expected market rate of return is the return an investor should expect to receive given the risks of the investment,
In this case, the expected market rate of return is 0.09 while the risk-free rate is 0.08, meaning the expected market rate of return is higher than the risk-free rate.
Thus, the security with a higher expected market rate of return would be the better buy because it offers the potential for higher returns compared to the risk-free rate.
In general, a higher expected market rate of return indicates that investors are more willing to accept more risk for the potential of higher returns.
For example, investing in stocks would typically have a higher expected market rate of return compared to investing in government bonds because stocks are more volatile and thus more risky.
By investing in the security with a higher expected market rate of return, investors are potentially able to earn higher returns, albeit with more risk.
In conclusion, when comparing the expected market rate of return and the risk-free rate, the security with a higher expected market rate of return would be the better buy. This is because it offers the potential for higher returns compared to the risk-free rate and investors are willing to accept more risk for the potential of higher returns.
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markets can be segmented into groups of nonusers, ex-users, potential users, first-time users, and regular users of a product. this method of segmentation is called .
The method of market segmentation that categorizes consumers into groups of nonusers, ex-users, potential users, first-time users, and regular users of a product is called usage-based segmentation.
This type of segmentation focuses on how consumers use or don't use a product, and divides the market into different groups based on their level of product consumption. Usage-based segmentation can be useful for companies to tailor their marketing efforts towards each group, such as developing targeted messaging and promotions to encourage nonusers to try the product or to retain the loyalty of regular users. Market segmentation is the process of dividing a heterogeneous market into smaller groups of consumers with similar needs or characteristics. The goal of market segmentation is to better understand and meet the unique needs of each segment, ultimately increasing the effectiveness of marketing efforts and driving business growth.
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What is an individual health plan?
(1 point)
Responses
- Health insurance policies for those who do not have access to employer-provided health plans or who do not qualify for government-provided plans, offered through a marketplace, and purchased by individuals for themselves and their families.
- A selection of health plans offered to an employee by the employer.
- A selection of plans offered by the government.
- The largest market sector of the health care insurance industry.
An individual health plan is A Health insurance policies for those who do not have access to employer-provided health plans or who do not qualify for government-provided plans, offered through a marketplace, and purchased by individuals for themselves and their families.
What is the Health plan about?An individual health plan is a type of health insurance policy that is purchased by an individual or family directly from a health insurance company, rather than being provided by an employer or the government.
It is typically designed to provide coverage for medical expenses such as doctor visits, hospitalization, and prescription drugs. Individual health plans can be purchased through a marketplace, directly from an insurance company, or through a broker. They are a popular option for people who are self-employed, work part-time, or who do not have access to employer-provided health insurance.
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the answer would be: A
The primary role of business technology during the 1970s was to
Multiple Choice
support existing business by improving the flow of financial information.
empower workers by giving them access to greater amounts of information.
implement new production methods that relied on automated equipment.Incorrect
protect proprietary company information from outsiders.
The primary role of business technology during the 1970s was to support existing business by improving the flow of financial information.
During the 1970s, the primary role of business technology was to support existing business by improving the flow of financial information. Businesses aimed to use computers to automate their financial operations and increase efficiency. Furthermore, during this era, the use of computers in the banking industry became more widespread. The 1970s saw the birth of financial computing, which aimed to assist businesses in streamlining their financial operations by automating them. It began with the development of large-scale, data-intensive computing environments that provided companies with the ability to handle financial transactions and operations more efficiently. Additionally, businesses began to adopt mainframe computers in order to improve their financial reporting capabilities.
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When starbucks sells the rights to other companies globally to open coffee shops with the starbucks name for a fee and a share of the profit, in return for using starbucks brand name and a package of materials and services, it is considered ____. group of answer choices - franchising - countertrading - importing - exporting - offshoring
When Starbucks sells the rights to other companies globally to open coffee shops with the Starbucks name for a fee and a share of the profit, in return for using Starbucks brand name and a package of materials and services, it is considered Franchising.
What is Franchising?
Franchising is a business strategy that allows business owners to license their business operations to a third-party company. A franchise is an arrangement in which the franchisor grants the franchisee the right to use its brand name, product or service, and operating methods in exchange for an initial fee and an ongoing royalty fee.
Franchising enables entrepreneurs to expand their businesses rapidly while minimizing risks.
What are the advantages of Franchising?
The advantages of Franchising are as follows: Expansion: Franchising allows entrepreneurs to expand their businesses quickly and profitably without having to invest in expensive infrastructure, management, and training.
Lower Costs: The franchisee is responsible for all of the costs of running the franchise, including site selection, construction, inventory, and payroll. The franchisor provides the franchisee with all of the materials, equipment, and support they need to run their business. Profit Sharing: The franchisee pays the franchisor an initial fee and ongoing royalties, which are based on a percentage of the franchisee's sales.
This provides the franchisor with a share of the profits generated by the franchisee's business.
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if a newspaper decides to publish a story that has the potential to influence a considerable number of the public, then which traditional news value is the newspaper utilizing?
If a newspaper decides to publish a story that has the potential to influence a considerable number of the public, then the traditional news value that the newspaper is utilizing is "impact".
The impact is a key news value that measures the significance or relevance of a news story to the audience. Stories with a high impact are those that are expected to have a significant effect on the lives of the audience or the society as a whole. This type of news story often involves important political, economic, or social issues, and may require in-depth reporting, investigative journalism, or commentary.
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question 4 as a product owner, you set the initial sprint duration the team has to work on their items. this refers to what scrum concept?
This refers to the concept of Sprint Planning in Scrum.
During Sprint Planning, the Product Owner collaborates with the development team to decide what work should be completed in a particular sprint and to set the initial sprint duration. The goal is to choose a set of stories from the Product Backlog that the team can commit to completing in the current sprint. This sprint duration typically ranges from one to four weeks, and is determined by the team and the Product Owner.
The Sprint Planning meeting is facilitated by the Scrum Master and attended by the Product Owner, Scrum Team, and stakeholders. During the meeting, the Product Owner provides an overview of the work to be completed in the current sprint. The team then discusses the scope of the work and determines how much can be realistically completed. The Product Owner and the team agree upon a sprint goal and the sprint duration, which is based on the amount of work the team can commit to completing. Once the sprint duration has been set, the team can begin working on the stories.
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if a government experiences an increase in its budget surplus, which of the following possible outcomes will likely result? question 2 options: exports decrease while imports and all other variables are held constant investment falls while everything else holds constant imports increase while exports and all other variables are held constant private savings decrease while everything else holds constant
If a government experiences an increase in its budget surplus, the following possible outcome will likely result: investment falls while everything else holds constant.
What is budget surplus?A budget surplus occurs when income or receipts go beyond expenditure or outflows. A budget surplus, also known as a surplus, is an excess of revenues over expenses that accrues to the government during a fiscal year. The government may use the surplus to pay down debt or spend it on capital investments for the future.
What is investment?Investment is the purchase of goods that are not consumed today but instead are used in the future to create wealth. When an individual or organization uses its money to purchase stocks, bonds, or real estate for long-term gain rather than short-term income, it is considered an investment.
Exports and imports, as well as private savings, are not directly linked to budget surplus, whereas investment is. As a result, if a government experiences an increase in its budget surplus, investment may decrease while everything else stays constant.
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berta, the manager of an automobile showroom, announces a new scheme wherein the company offers an all-expenses paid trip to the salesperson who sells the most number of cars in the next quarter. this inspires berta's subordinates to work harder and improve their performance. in this scenario, berta uses a(n) . group of answer choices countertransference technique intrinsic motivation technique counterconditioning technique positive reinforcement technique
In this scenario, Berta is using a Positive Reinforcement Technique to motivate her subordinates.
Positive Reinforcement is a type of behavior modification that rewards desirable behavior. By offering an all-expenses paid trip to the salesperson who sells the most cars, Berta is providing a positive reward that encourages her subordinates to work harder and improve their performance.
This reward serves as a motivation for them to strive for higher results and encourages them to maintain their performance. By implementing this technique, Berta is reinforcing the desired behavior, which in turn leads to better outcomes.
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if 2003 is the base year, what is the cpi in 2002 for the fruit basket question in the self -check questions in the textbook?
if 2003 is the base year, what is the cpi in 2002 for the fruit basket question in the self -check questions in the textbook. The answer to the question is 100.
The self-check questions in the textbook refer to the exercises given at the end of each chapter that allow students to evaluate their understanding.
Here, we can use the formula for the Consumer Price Index (CPI) to calculate the CPI value in 2002. Let's look at the formula; CPI = (Cost of Basket in Current Year / Cost of Basket in Base Year) x 100
To solve the problem, we need to find the cost of the fruit basket in 2002, which we don't know. However, we do know that the CPI value in 2003 (the base year) is 100.
Therefore, we can use the following formula; CPI 2003 = (Cost of Basket in 2003 / Cost of Basket in 2003) x 100 = 100
Since the CPI value is 100 in the base year, we can assume that the cost of the fruit basket in 2003 is the same as its cost in 2002. Therefore, we can assume that the CPI in 2002 is also 100. Therefore, the answer to the question is 100.
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how does the price quantity demand is affected when there is a decrease in the price of a complement
When the price of a complement decreases, the demand for the original good increases. This is because consumers substitute the now-less-expensive complement for the original good, resulting in a higher demand for the original good.
To explain this concept more in depth, there are two main ideas:
First, the decrease in the complement's price means that it is now cheaper for consumers to buy both the original good and the complement, making it more attractive to purchase both goods. Secondly, when the price of the complement decreases, consumers may substitute the complement for the original good. This means that they choose to buy the complement instead of the original good, resulting in a higher demand for the original good.
Price-quantity demand is affected when there is a decrease in the price of a complement in the following ways: When the price of a commodity decreases, the quantity demanded of the commodity rises, assuming the other factors remain constant. When there is a decrease in the price of a complement, the quantity demanded of the commodity increases; thus, the price-quantity demand curve moves to the right.
When the cost of complementary goods decreases, the quantity demanded of the other good increases. For instance, if the price of bread decreases, the demand for butter increases as people are more likely to purchase bread and butter together.The demand curve shifts to the right when the price of a complementary good falls, indicating a positive relationship between the two.
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g suppose the interest rate increases by 1 point in november of 2009. what effect will that change have on dhomes?
When the interest rate increases by 1 point in November of 2009, the effect it will have on homes is that mortgage rates, home equity loans, and other forms of home financing will become more expensive. This means that it will become more expensive for individuals to take out a mortgage or other form of loan to purchase a home.
When the interest rate increases, it means that it costs more for lenders to borrow money from the Federal Reserve. As a result, lenders must pass on the increased cost to borrowers in the form of higher mortgage rates, home equity loans, and other forms of home financing. This makes it more expensive for individuals to take out loans to purchase homes, which can make it more difficult for prospective buyers to purchase a home.
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If a firm finds that increases in output lead to increases in long-run average total cost, then it must be experiencing _______ which could be caused by ______
- diseconomies of scale, coordination problems - diseconomies of scale; specialization - economies of scale, specialization
- constant returns to scale: coordination problems
Diseconomies of scale are present in a firm if it observes that increases in production cause rises in lengthy average total cost.
Diseconomies of scale happen when a corporation expands its production scale while seeing an increase in its costs of production.
There are a number of potential causes for this, including coordination issues. The coordination and management of the company's numerous departments may become more challenging as it expands, resulting in inefficiencies and higher expenses.
One on each hand, specialisation can also result in economies of scale since workers get better at their particular jobs and can create items faster. Yet, specialisation that is too limited might result in a lack of adaptability and flexibility, which can raise expenses.
Contrarily, constant return to scale happen whenever a firm's long-run overall cost average stays the same irrespective of the amount of output.
Constant earnings to scale may also be caused by coordination issues if the company is unable to effectively manage its assets as it expands.
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13. give your own example of a business (or industry) that would likely be affected by the closure of the gm plants. explain your reasoning.
The closure of GM (General Motors) plants is likely to affect various businesses and industries, both directly and indirectly. One industry that is likely to be affected is the auto parts manufacturing industry.
Impact on auto part manufacturing industry -Auto part suppliers who supply their products to General Motors will be directly impacted by the closure of GM plants. These suppliers relied heavily on GM to purchase their products, and with GM decreasing their production, these suppliers will suffer a significant reduction in their revenue. As a result, this could have a ripple effect on the whole auto part manufacturing industry and could lead to closures or bankruptcies of these suppliers.
Impact on other industries -Additionally, the closure of GM plants is likely to affect businesses that support GM, such as logistics and transportation companies. These companies relied on transporting the finished cars and car parts that GM produced, and with the decrease in GM's production, this could severely impact their revenue. The closure of GM plants will also affect the workforce and economy of the areas where these plants are located. Many businesses in these areas rely on the income and spending power of GM employees, and with the closure of these plants, these employees could lose their jobs or move to other areas, resulting in reduced commerce and economic activity.
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what approach to strategy begins with a strategic plan, and allows the introduction of ideas and initiatives to evolve over time?
The approach to strategy that begins with a strategic plan and allows the introduction of ideas and initiatives to evolve over time is known as the emergent strategy approach.
What is emergent strategy?Emergent strategy is a strategy that emerges from ongoing decisions, resource allocation, and management processes of the organization. It is also a strategy that involves decision-making processes that continuously adapt to changing circumstances and take advantage of new opportunities as they arise.
This strategy relies heavily on the organization's ability to learn and develop over time. By embracing this approach, organizations can continue to improve their operations and grow their business, even as they face new challenges and opportunities.
There are some common characteristics of an emergent strategy that we can highlight, and they are as follows:
It relies on decentralized decision-making processesIt involves constant adaptation and evolutionIt is based on a continual process of learning and experimentation.It is flexible and adaptable to changing circumstancesIt involves ongoing feedback and communication between all stakeholdersIt values experimentation, innovation, and creativity.To sum up, the emergent strategy approach begins with a strategic plan but allows the introduction of ideas and initiatives to evolve over time. By embracing this approach, organizations can continue to improve their operations and grow their business, even as they face new challenges and opportunities.
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if sarah's current salary is 25,000 per year and she is due to get a 3% raise this year in addition to a 2% cost of living increase, how much will her salary be after these increases take effect?
Sarah's salary after the increase will be $26,250
Sarah's current salary is $25,000 per year. She is due to get a 3% raise this year in addition to a 2% cost of living increase. So the question is how much will her salary be after these increases take effect?
The total increase that Sarah will receive this year is:
3% + 2% = 5%
Her new salary will be:
$25,000 + (5/100 × $25,000)=$25,000 + $1,250 =$26,250So, her salary after the increase will be $26,250.
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joy's fabrics purchases merchandise from a supplier on december 1st on credit, terms 1/10, n/30 for $2,050. joys hopes to eventually sell that merchandise to a customer at a sales price of $3,700. when recording the payment of the invoice on december 9th in its cash payments journal, how much would joy's enter in the accounts payable dr. column?
For Joy's Fabrics, its cash payments journal will affect a recording of accounts payable with an amount of $2,029.5.
Here, it is understood that the payment is made within 10 days, and the credit term is also satisfied, 1% discount is received on accounts payable. The journal entry will affect cash accounts by $2,050 in this case, and $20.5 will be credited to discounts received. As a result, accounts payable will only be $2,029.5.
Accounts Payable = Actual Purchase – 1% Trade Discount
Accounts Payable = 2050 – 20.5
Accounts Payable = 2029.5
Therefore, the accounts payable will be debited by $2,029.5.
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Complete question
Joy's fabrics purchases merchandise from a supplier on December 1st on credit, terms 1/10, n/30 for $2,050. Joys hopes to eventually sell that merchandise to a customer at a sales price of $3,700. When recording the payment of the invoice on December 9th in its cash payments journal, how much would joys enter the accounts payable dr. column?
Multiple Choice
$2029.5.
$2,500
$2,575
$3,000
if due to inflation the real value of your savings makes you worse off than you were before, this is an example of the
If due to inflation rate the real value of your savings makes you worse off than you were before, this is an example of the savings will not be as valuable as they were before.
If due to inflation the real value of your savings makes you worse off than you were before, this is an example of the erosion of the purchasing power of your savings. Inflation causes the purchasing power of money to decrease, so the inflation rate represents the rate at which the buying power of a currency is declining.
This also implies that inflation has the potential to reduce your savings' actual value. This suggests that if your interest on your savings is lower than the inflation rate, your savings' actual worth is likely to decrease. Inflation is an increase in the cost of goods and services over time.
Inflation may have a significant impact on savers' purchasing power. Inflation can create economic disparities by eroding the purchasing power of savings. Inflation lowers the actual value of money because it reduces the number of goods and services that can be bought with a given amount of money.
This indicates that a higher inflation rate will cause money to lose its value at a quicker rate. As a result, savings will not be as valuable as they were before.
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james's employer published a picture of him on the company website without james's permission. james could sue the company for:
James may have grounds to sue his employer for invasion of privacy and unauthorized use of his image.
What is the unauthorized use of an image?
Unauthorized use of an image is when someone makes a copy of a person's photograph, draws it, or uses it in an advertisement without the owner's permission, or consent. The unauthorized use of a picture or image without permission is a violation of copyright law.
James's employer published a picture of him on the company website without his permission, and therefore, James could sue the company for unauthorized use of his image. The company didn't have permission for James to use his picture for their website. Hence, it is unauthorized to use an image or photograph.
Under the law, individuals have a right to control the use of their own image and likeness. This is known as the right of publicity. If someone uses an individual's image or likeness for commercial purposes without their consent, it can be a violation of their right to publicity.
In this case, James's employer used his picture on the company website without his permission, which could be seen as a commercial purpose. If James did not consent to the use of his image, he could argue that his employer violated his right to publicity and invaded his privacy.
If James can prove that his employer used his image without his consent, he may be able to sue for damages, which could include compensation for any financial harm suffered as a result of the use of his image, as well as damages for emotional distress or reputational harm. The specific legal claims that James could pursue would depend on the applicable law in his jurisdiction and the circumstances of the case.
Therefore, James could sue the company for unauthorized use of his image.
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l has a major medical policy with a $500 deductible and 80/20 coinsurance. l is hospitalized and sustains a $2,500 loss. what is the maximum amount that l will have to pay?
In this case, the most "l" will be responsible for paying is $400. The insurance provider will pay the balance of the loss, or $2,100 ($2,500 - $400).
The insurance provider, which is a contract given to the insured, outlines the terms and conditions under which the insurer would pay the insured, or their chosen beneficiary or assignee, compensation.
The premium is the sum of money that the insurer bills the policyholder for the insurance coverage specified in the insurance policy. In the event that the insured suffers a loss that could be protected by the insurance policy, paying the insured makes a claim to the insurer for handling by a claims adjuster.
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According to the text, which two groups create the largest proportion of consumers in the diffusion process of innovation?
Select one:
a. late majority and laggards
b. early majority and late majority
c. innovators and laggards
d. early adopters and early majority
e. innovators and early adopters
According to the text, the two groups that create the largest proportion of consumers in the diffusion process of innovation are the early adopters and the early majority. Therefore, the correct option is d. early adopters and the early majority.
The diffusion process of innovation refers to the spread or the process by which an innovation, technology, or idea is adopted and spreads throughout the market or society. This diffusion process comprises of five different groups or stages of customers or consumers. These groups are innovators, early adopters, early majority, late majority, and laggards.
According to the theory, two groups create the largest proportion of consumers in the diffusion process of innovation, which are early adopters and the early majority. Early adopters refer to those customers who are the first to purchase and adopt new products and technologies. They are risk-takers and tend to be opinion leaders. The early majority, on the other hand, comprises customers who adopt new products and technologies just after the early adopters, but before the average consumers. They are more deliberate and tend to assess the experiences of the early adopters before purchasing the new products or technology.
The correct option is d.
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other than the sixteen goods and services which must appear on the gpl, may a funeral home give other items away for free?
Yes, a funeral home can give other items away for free other than the sixteen goods and services which must appear on the GPL.
It is because the Funeral Rule does not prohibit a funeral provider from offering any services or merchandise other than the 16 items listed on the General Price List (GPL). Funeral service providers may offer goods and services not included in the GPL, but they must provide you with a written price list of all available goods and services.
In the case of funeral homes, they are allowed to offer other services or merchandise as a "package" or "pre-need" arrangement. These packages are typically not listed on the GPL but should be fully itemized on a written price list provided by the funeral home.
The Funeral Rule is a set of consumer protection regulations that apply to funeral providers, funeral homes, and funeral directors. The regulations require that funeral homes and other providers give consumers information about the cost of funeral services and merchandise. Funeral homes must provide consumers with a written price list of all available goods and services when they visit the home.
In conclusion, other than the sixteen goods and services which must appear on the GPL, a funeral home may give other items away for free. However, these services or merchandise must be fully itemized on a written price list provided by the funeral home.
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though field service firms specialize in conducting interviews on subcontracted basis, they also provide focus group facilities. true false
The statement "Field service firms specialize in conducting interviews on subcontracted basis, they also provide focus group facilities" is true.
What are field service firms?Field service firms are businesses that are involved in offering services to consumers, such as installing, repairing, or maintaining equipment. Field service firms provide repair services to both residential and commercial clients, as well as the repair of equipment used by businesses and organizations.
Field service businesses are in charge of ensuring that the equipment they repair and maintain is operating correctly. Field service businesses may be contracted to do work for another company, or they may be in charge of their own equipment.
A field service company must have a knowledgeable team of professionals who are skilled in the proper use of diagnostic tools and repair equipment to ensure that work is done to high quality. Additionally, service businesses may provide focus group facilities for their clients.
Field service businesses are companies that offer services to consumers, such as installing, repairing, or maintaining equipment. Field service firms provide repair services to both residential and commercial clients, as well as the repair of equipment used by businesses and organizations.
Additionally, these businesses can offer focus group facilities to their customers.
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assume the cpi was 55 in 1960 and 170 in 1990. if you had $60 in 1960, how much would you have needed in 1990 to purchase the same amount of goods and services? $
You would have needed $183.40 in 1990 to purchase the same amount of goods and services as $60 in 1960, with the CPI being 55 in 1960 and 170 in 1990.
The CPI is an index that measures the average changes in prices of goods and services purchased by households.
In 1960, the CPI was 55 and in 1990 it was 170. This means that the price of goods and services increased from 1960 to 1990.
To determine the value of $60 in 1990, divide the 1990 CPI of 170 by the 1960 CPI of 55. This gives you a multiplier of 3.09. To calculate the value of $60 in 1990, multiply $60 by 3.09.
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Identify a true statement about the GAP model.a.Minimizing gaps 4 and 5 will result in low customer satisfaction.b.Failure to understand and minimize gaps presents the risk of losing customer loyalty.c.It eliminates causes of defects and errors in manufacturing and service processes by focusing on outputs that are critical to customers.d.It defines quality system standards based on the premise that certain generic characteristics of management practices can be standardized.Failure to understand and minimize gaps presents the risk of losing customer loyalty.
The GAP model is a model that outlines the difference between the expected service quality and the actual service quality. The gaps represent the factors that are hindering service delivery, and it is essential to minimize them to enhance customer satisfaction.
Identify a true statement about the GAP model.GAP model is a vital tool in the identification of the factors that hinder service delivery. Failure to understand and minimize gaps presents the risk of losing customer loyalty. This is a true statement about the GAP model.Minimizing gaps 4 and 5 will result in low customer satisfaction. This is a false statement about the GAP model. The GAP model outlines that minimizing gaps 4 and 5 will lead to improved customer satisfaction.It eliminates causes of defects and errors in manufacturing and service processes by focusing on outputs that are critical to customers.
This is a false statement about the GAP model. The GAP model is not focused on eliminating defects and errors. Instead, it aims to identify the factors that hinder service delivery and work towards minimizing them.It defines quality system standards based on the premise that certain generic characteristics of management practices can be standardized.
This is a false statement about the GAP model. The GAP model does not define quality system standards. It is focused on identifying factors that hinder service delivery and enhancing customer satisfaction. Therefore, the true statement about the GAP model is that failure to understand and minimize gaps presents the risk of losing customer loyalty.
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3. suppose capacity at pressing is increased by adding one person and one pressing machine. what is the new daily capacity (number of customers served) of the dry-cleaning process as a whole? (10 pts)
The capacity of the dry-cleaning process as a whole over a 12-hour day is 4557.6 items. The new capacity of the dry-cleaning process as a whole over a 12-hour day is 4413.6 items.
1. Capacity of dry cleaning process over a 12-hour day = capacity of (ordertaking+ pretreatment+Dry cleaning+pressing+ packing+ customer pickup & payment)
The capacity of the dry cleaning process over a 12-hour day= 60+ 56.8*12+90*12+48*12+120*12+60*12
The capacity of dry cleaning process over a 12 the ur day= 60+681.6+1080+576+1440+720
The capacity of the dry cleaning process over a 12-hour day= of 4557.6 items
2. Addition of 1 Pressing Machine and 1 presser :
Run time:
A presser machine processes = 24 items per hour
2 presser machines will be processing = 24/2 = 12 items per hour
Capacity
60min/ 2.5min per item = 24 items per min (for a single presser)
As we have calculated 2 machines process = 12 items per hour
therefore when we have 3 pressers working they will process = 12*3 = 36 items per hour
New Capacity = 60+ 56.8*12+90*12+36*12+120*12+60*12
New Capacity= 60+ 681.6+1080+432+1440+720
New Capacity= 4413.6 items
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The full question is:
Numbers per task are as follows: Order Taking
Run Time:1 minute per item (or 3 minutes per order) Capacity: 1 item per minute*60=60 items per order
Pre-Treatment
Run Time: 60 minutes/56.8 items per hour=1.06 minutes per item Capacity: 90 items in 90 minutes with 5 minutes of setup, (90/95 minutes) x 60 minutes/hour = 56.8 items per hour
Dry Cleaning
Run Time: 5 minutes set up time and 55 minutes run-time per 90 item batch (60/60=1 batch) Capacity: 90 items per hour. Capacity can be increased if consecutive loads are of the same color
Pressing
Run Time: The pressure can process an item in 2.5 minutes: 60 minutes per hour/2.5 minutes per item=24 items per hour Capacity: 60minutes/2.5minutes per item = 24 x 2= 48 items per hour between the two pressers.
Packing
Run Time: 0.5 minutes per item or 2 items per minute Capacity: 2 items per minute x 60 minutes = 120 items per hour Customer Pickup & Payment Run Time: 1 minute per item Capacity: 1 minute per item x 60 minutes = 60 items per hour
1. What is the capacity of the dry-cleaning process as a whole (from order taking to customer pickup and payment) over a 12-hour day?
2. Suppose capacity at Pressing is increased by 1 person and 1 pressing machine. What is the new capacity of the dry-cleaning process as a whole over a 12-hour day?
the production possibilities curve bows out because question content area bottom part 1 a. production is inefficient. b. of the law of increasing additional cost. c. resources are not being fully utilized. d. production is efficient.
Production Possibilities Curve (PPC) bows out due to the law of increasing additional costs, making option (b) correct.
The Production Possibilities Curve, also known as the Production Possibility Frontier, is a graphical representation of a company's maximum capacity for producing two separate goods or services. It reveals the greatest quantity of one commodity that a country can produce at a particular time for a fixed amount of resources in a given economy.
Due to the scarcity of resources, the Production Possibilities Curve (PPC) shows how a company's limited resources can be best allocated to create different goods and services. The Production Possibilities Curve demonstrates the maximum number of goods that may be produced at a certain point in time, which is constrained by the country's resources, labour, and technology.
The PPC bows out because of the law of increasing additional costs. As a result, option (b) is correct. Increasing opportunity cost implies that producing more of one item necessitates a rising number of resources or sacrificing the production of another. Resources are not being fully utilized in option (c), which is incorrect.
The PPC would not be limited to its full capacity if production were ineffective.
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what happened to the price and quantity of of straw brooms, when the price of plastic brooms increases?
When the price of plastic brooms increases, the price of straw brooms decreases, while the quantity of straw brooms demanded increases.
This is a result of the substitution effect.
The substitution effect is the change in consumer behavior in response to a change in the price of a good or service. As the price of one good rises, consumers will switch to a cheaper substitute.
For example, if the price of beef increases, consumers may switch to chicken, fish, or pork. The substitution effect occurs because consumers seek to maintain their standard of living by purchasing goods and services at the lowest possible price.
Based on this concept, when the price of plastic brooms increases, consumers may switch to straw brooms since they are cheaper. This results in an increase in the quantity of straw brooms demanded.
On the other hand, the demand for plastic brooms will decrease, leading to a decrease in the quantity of plastic brooms demanded. Consequently, the price of straw brooms will decrease since they are now in high demand, while the price of plastic brooms will increase due to the low demand.
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andy is completing a performance appraisal and must choose two items (from a group of four) that best describe his customer service employee. the type of appraisal format that andy is completing is a:
Andy is completing a performance appraisal that uses a Forced Choice format. This format requires him to select two items (out of a group of four) that best describe his customer service employee.
In this format, the manager provides a list of statements that describe a trait or characteristic and the employee is asked to select the two statements they feel best describes them. This format is beneficial because it eliminates the potential for bias or favoritism and gives the manager a better understanding of the employee’s self-perception.
Forced Choice appraisals are also effective in quickly gathering feedback from employees and providing useful insights to the manager. By requiring the employee to pick two options out of a group, the manager can quickly gather a large amount of data that is both accurate and objective.
In order to get the most accurate feedback, it’s important for the manager to provide a comprehensive list of descriptions when creating the forced choice format. This should be done in a way that provides clarity and doesn’t limit the employee’s ability to accurately answer the question. By creating a comprehensive list of options, the manager can ensure that the employee has an accurate view of their own performance.
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