Amazon has been a pioneer in developing cashierless technology in retail stores. In Amazon Go supermarkets, sensors detect which products shoppers have put in their baskets and charge the shoppers' credit cards as they leave the store. Eliminating checkout lines significantly reduces the cost of operating these supermarkets. a. Assume that eventually all supermarkets use cashierless technology. Use a demand and supply graph of the market for groceries to show the effect of these falling costs on consumer surplus in this market. b. Can we be certain whether these falling costs will increase producer surplus? Briefly explain.
Answers
The falling costs associated with cashierless technology in supermarkets would likely increase consumer surplus in the market for groceries.
The demand and supply graph would show an expansion of consumer surplus due to lower prices and increased access to goods.
The impact on producer surplus due to falling costs is uncertain. While the reduction in operating costs may increase profitability for some producers, it could also lead to increased competition and lower profit margins. The final outcome would depend on various factors such as market structure, pricing strategies, and the ability of producers to adapt to the changing landscape.
a. The implementation of cashierless technology in supermarkets would lower operating costs, enabling retailers to offer lower prices to consumers. On a demand and supply graph, this would result in a downward shift of the supply curve, indicating a decrease in the equilibrium price. As a result, consumer surplus would expand, as consumers are able to purchase the same quantity of groceries at a lower price, or they can buy more groceries for the same budget.
b. The impact on producer surplus is uncertain. While falling costs may initially increase producer surplus as profit margins widen, there are other factors to consider. The adoption of cashierless technology may attract new competitors into the market, leading to increased competition. Additionally, price reductions resulting from lower operating costs could erode profit margins. The net effect on producer surplus would depend on the ability of producers to differentiate their products, create value-added services, or adapt their business models to remain competitive in a changing retail landscape. Therefore, it is not certain whether falling costs will ultimately increase or decrease producer surplus in the long run.
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Related Questions
Swifty Corporation acquires a coal mine at a cost of $399,640. Intangible development costs total$103,000. After extraction has occurred, Swifty must restore the property (estimated fair value of the obligation is$82,400), after which it can be sold for $164,800. Swifty estimates that 4.120 tons of coal can be extracted. If 721 tons are extracted the first year, prepare the journal entry to record depletion. (If no entry is required, select "No entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually. List debit entry before credit entry.)
Answers
Credit account titles are automatically indented when amount is entered is $72,912.
Depletion is an accounting technique used to distribute the expense of using natural resources over the period when the benefits are enjoyed.
Swifty Corporation's journal entry to record depletion is given below:
The Depletion Expense is computed as follows:
$399,640 (cost of a coal mine) + $103,000 (development cost) + $82,400 (restoration obligation) - $164,800 (sale value) = $416,640
Depreciation per ton = Depreciable cost ÷ Tons of coals extracted
= $416,640÷ 4,120
= $101.13 per ton.
Inventory = Depreciation per ton × tons extracted in the first year
Inventory = $101.13 per ton x 721 tons
= $72,912
Hence the journal entry is:
Particulars Debit Credit
Depletion expense 72,912
Accumulated depletion 72,912
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After Joslin had been running her business for several months, she began to feel confident of her success . She was making a profit. It was not as much as she had hoped for, but it was still a profit. One thing she had not decided was what price she should charge. She kept having sales an d specials that she hoped would hide the fact that she was having a hard time making up her mind. Finally she combined the in formation she had gathered in a demand-and-supply schedule and came up with an answer she hoped would work . Study her schedules below an d answer the questions that follow.(Those are the answer choices for all of them by the way)
Answers
If Joslin charged $10.50 a bag, the problem she would have is a surplus. The quantity supplied (1,600 bags) would exceed the quantity of bags Joslin believes will be demanded (800 bags), resulting in an excess supply of 800 bags.
If Joslin charged $9.00 a bag, the problem she would have is a shortage. The quantity demanded (1,400 bags) would exceed the quantity supplied (800 bags), resulting in a shortfall of 600 bags.
If Joslin charged $10.50 a bag, she would probably have to lower her price to reduce the surplus. The quantity supplied (1,600 bags) would exceed the quantity demanded (800 bags), indicating an excess supply of 800 bags.
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Which of the following are factors that will effect the price of a product?
(Check all that apply)
1. The amount of advertising and communications needed to inform customers
2. The number of businesses in the channel of distribution
3. The level of customer service offered by the business
4. The quantity of a product purchased by a customer
5. Whether the product is fragile or requires special handling
Answers
The factors that will affect the price of a product are:
1. The amount of advertising and communications needed to inform customers.
2. The quantity of a product purchased by a customer
3. Whether the product is fragile or requires special handling
What is Pricing?Pricing is the process by which a company determines the price at which it will sell its products and services and can be part of the company's marketing plan.
The process of estimating the quantitative value of a product based on internal and external criteria is known as product pricing. Product price has a direct influence on your company's entire profitability, from cash flow to profit margins to client demand.
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The members of an llc have considerable flexibility in managing and operating the business. how may the llc manage the firm?
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The members of an LLC (Limited Liability Company) have considerable flexibility in managing and operating the business. As an LLC, the members have considerable flexibility in managing and operating the business.
They may choose to have a manager who is responsible for the day-to-day operations of the firm, or they may choose to have all members actively participate in the management of the business.
Additionally, the LLC may choose to operate as a member-managed or manager-managed entity, which impacts the level of involvement each member has in decision-making processes.
Overall, the members of an LLC have the freedom to structure the management of the firm in a way that best suits their needs and goals.
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What is marketing? Help pls
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Early in this course, you learned about Alternative Dispute Resolution (ADR). What are the three main approaches to ADR and how do they compare to engaging in the regular litigation (court) process?
Answers
The three main approaches to Alternative Dispute Resolution (ADR) are negotiation, mediation, and arbitration. ADR differs from engaging in the regular litigation process in terms of process, control, and outcomes.
Negotiation involves direct communication between the parties involved, aiming to reach a mutually agreeable solution without the intervention of a third party. Mediation, on the other hand, utilizes a neutral third-party mediator who facilitates communication and assists the parties in reaching a resolution.
Lastly, arbitration involves submitting the dispute to a neutral arbitrator or panel of arbitrators who make a binding decision based on the evidence presented.
Compared to regular litigation, ADR approaches offer several advantages. Firstly, they emphasize voluntary participation, allowing the parties to have more control over the outcome and potentially preserving relationships.
Secondly, ADR processes tend to be more flexible, accommodating the specific needs and interests of the parties. Additionally, ADR procedures are generally faster than court proceedings, reducing the time spent on resolving disputes. Lastly, ADR methods often provide confidentiality, maintaining the privacy of sensitive information.
These factors collectively make ADR a popular alternative to litigation for many individuals and organizations seeking efficient and less adversarial means of resolving disputes.
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a musical instrument manufacturer is considered the best in the industry in terms of human resource management and its excellent supply chain that assures the company will deliver products on time. which macro strategy does this company demonstrate to achieve a sustainable competitive advantage?
Answers
Operational excellence is the plan for Niro music to gain a competitive advantage.
Early in the 1970s, Dr. Joseph M. Juran introduced the concept of operational excellence while educating Japanese industry leaders on how to improve quality. It was defined in the United States in the 1980s in reaction to "the crisis" experienced by large, established firms, whose market share was decreasing as a result of high-quality items imported from Japan.
An excellent workplace culture can be fostered using certain strategies and ideas that are part of the operational excellence style of thinking. Each employee must be able to recognise, provide for, and improve the flow of value to a client for there to be operational excellence.
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PLEASE HELLPP!!!!’Hurrryyyy
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Answer:
I thinkMARKETING MANAGEMENT
HOPE IT HELPEDWhat is the purpose of credit legislation and what is its impact on individuals, companies, and financial institutions?
Answers
Answer:
here ;)
Explanation:
Its purpose is to protect consumers obtaining credit to finance their transactions, ensure that adequate credit is provided, and govern the credit industry in general. In 1968, Congress passed the Consumer Credit Protection Act in part to regulate the consumer credit industry.
Calculate the FV for the following 3 scenarios. Investment scenario #1:
You invest $1,000 (PV) for 10 years (n) at an interest rate of 5% (r). What is the amount you would receive at
the end of 10 years (FV)?
Investment scenario #2:
You invest $5,000 (PV) for 20 years (n) at an interest rate of 8% (r). What is the amount you would receive at
the end of 20 years (FV)?
Investment scenario #3:
You invest $10,000 (PV) for 30 years (n) at an interest rate of 12% (r). What is the amount you would receive
at the end of 30 years (FV)?
PLEASE ANSWER WITH WORK SHOWN :)
Answers
Answer:
?
Explanation:
Answer:
$2191.12
Explanation:
We are asked to find the value of a bond after 10 years, if you invest $1000 in a savings bond that pays 4% interest, compounded semi-annually.
FV=C_0\times (1+r)^n, where,
C_0=\text{Initial amount},
r = Rate of return in decimal form.
n = Number of periods.
Since interest is compounded semi-annually, so 'n' will be 2 times 10 that is 20.
4\%=\frac{4}{100}=0.04
FV=\$1,000\times (1+0.04)^{20}
FV=\$1,000\times (1.04)^{20}
FV=\$1,000\times 2.1911231430334194
FV=\$2191.1231430334194
FV\approx \$2191.12
Therefore, the bond would be $2191.12 worth in 10 years.
What is meant by equal behavior
Answers
Answer:
Explanation:
Tose behaviour that demostrates equal towards other regardless of their religion, gender, caste, language etc. is called equal behaviour
Which situation best illustrates how global trade promotes specialization?
A. A country sets strict limits on the amount of goods it can import
from other countries in a single year.
B. A country tries to export as many goods as possible by making a
huge variety of different products.
C. A country imports food and medicine from its neighbors so that
its workers can focus on making cars.
D. A country ensures that it will not become too reliant on trade by
producing all of its own food and clothing,
Answers
Answer:
C. A country imports food and medicine from its neighbors so that
its workers can focus on making cars.
Explanation:
Just got it right on my quiz!
The situation that best illustrates how global trade promotes specialization is that a country imports food and medicine from its neighbors so that its workers can focus on making cars.
Specialization by nations or individuals makes them to produce at the lowest cost and then trade with others,International trade often promotes specialization and division of labor and increases output and consumption. When an economy specializes in production, it brings about gains from international trade.
An example, a country can produce rice at a lower cost than beans, it can choose to specialize and dedicate all its resources to the production of rice, using some of them to trade for beans.
Conclusively, by specialization, countries specialize in certain products which they trade for other goods.
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If a 20% increase results in a price of $6.36, what was the price before?
Answers
Answer:
$5.09 cents
Explanation:
Given the following question:
20% of 6.36
In order to find the answer, we will calculate using the formula for percentages then subtract that answer from the initial amount to have our answer.
\(\frac{p\times n}{100}\)
\(\frac{20\times6.36}{100}=20\times6.36=127.2\div100=1.272\)
\(=1.272\)
Round:
\(1.272\)
\(2 < 5\)
\(1.27\)
Now subtract:
\(6.36-1.27=5.09\)
\(=5.09\)
After a 20% decrease the price is now "$5.09 cents." Which means this was the price before the 20% increase.
Hope this helps.
Strategies for managing conflict
Answers
Can I get a brainest point plsssssss
1. Don't Ignore Conflict
If you're someone who dislikes dealing with conflict, it might seem tempting to just put your head in the sand and pretend it doesn't exist, hoping it will resolve itself on its own. While this sometimes can happen, the truth is that the vast majority of the time, this will only cause the situation to get worse. Ignored conflicts have a tendency to fester over time and reappear at inopportune moments, so do your team a favor and address conflicts when they occur, nipping a potentially toxic situation in the bud as soon as you recognize it.
2. Clarify What the Issue Is
If you're dealing with a conflict between two members of your team, it's important that you get all the facts. Sit down with each individual involved and find out exactly what the issue is. How is each individual perceiving the situation? What needs are not being met? What does each party see as an appropriate resolution? Make sure that all parties involved understand that you are acting as an impartial mediator, and let them know they can feel comfortable to share sensitive information.
3. Bring Involved Parties Together to Talk
Once you've had a chance to talk to all involved parties separately, bring them together in a meeting so that they can hash out their differences in a neutral environment. This is a time for brainstorming, active listening, and being open to different perspectives - the goal is to come to a common understanding of what the problem is, what role each individual is playing in the conflict, and what some possible solutions might be.
4. Identify a Solution
After both parties have had a chance to discuss the situation at hand, it's time to identify what a satisfactory resolution might be - and how to get there. Ideally, by this point, both parties will understand the other's side, and oftentimes the conflict will be resolved just through facilitated, open dialogue. However, if the situation requires further resolution, you will need to step in and help them negotiate a reasonable solution. This phase can require some time and effort, as it requires both parties to set aside their differences and preferences and find some common ground to work towards (which may involve not getting everything they want out of the situation). Then, work with both individuals to come up with a concrete list of steps that will result in the solution being achieved.
5. Continue to Monitor and Follow Up on the Conflict
Just because a solution has been identified and addressed doesn't mean it will just go away. As a manager, it's your responsibility to check in with both parties to ensure that the conflict has truly been dealt with, and that the steps identified to reach a solution are being followed. If all seems to be going well, simply remember to stop and observe from time to time, just to see if things really are going smoothly or if there are still lingering tensions under the surface that need to be handled. If it's clear that the solution didn't work, or wasn't the right resolution for the situation, make sure to be proactive in working with both parties to readjust expectations, identify alternative solutions, and continue their dialogue to create a positive and healthy work environment.
Why might a government choose to get involved in state-sponsored cyberwarfare? More than one answer may be correct. Check All That Apply It is relatively inexpensive compared to traditional warfare. It is often difficuit to trace and identify. It can cause widespread damage to IT infrastructure. It does not require an organized group to execute attacks.
Answers
The reasons why a government might choose to get involved in state-sponsored cyber warfare can vary, and more than one answer may be correct. Here are the potential reasons:
It is relatively inexpensive compared to traditional warfare: State-sponsored cyber warfare can be a cost-effective option for governments compared to traditional military operations.
Developing and executing cyber attacks can require fewer resources and funding than deploying physical forces or acquiring advanced weaponry.
It is often difficult to trace and identify: Cyber attacks can be executed with a certain level of anonymity, making it challenging to trace the source back to the sponsoring government.
This provides a degree of deniability, allowing governments to engage in offensive cyber operations without direct attribution.
It can cause widespread damage to IT infrastructure: Cyber warfare has the potential to inflict significant damage on the IT infrastructure of targeted entities, such as critical infrastructure systems, government networks, or financial institutions.
Disrupting or disabling these systems can have far-reaching consequences, impacting various aspects of society and causing significant disruption.
It does not require an organized group to execute attacks: Unlike traditional warfare that often requires organized military units, cyber attacks can be carried out by relatively small teams or even individual actors.
This flexibility allows governments to engage in offensive cyber operations without the need for a large-scale military structure.
It's important to note that the decision to engage in state-sponsored cyber warfare is a complex matter influenced by geopolitical factors, national security concerns, and strategic objectives.
The reasons listed above are some potential motivations, but there may be other factors specific to each government's context and goals.
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points ellook Hint Saved Help Return on investment Save & Exit Submit Check my work An investment center of Rundle Corporation shows an operating income of $7,936 on total operating assets of $64,000. Required Compute the return on investment. (Round your answer to 2 decimal places. (.e., 0.2345 should be entered as 23.45).)
Answers
To compute the return on investment (ROI), we divide the operating income by the total operating assets and express the result as a percentage.
Return on Investment (ROI) = (Operating Income / Total Operating Assets) * 100
Return on investment (ROI) is calculated by dividing operating income by total operating assets and multiplying by 100 to express it as a percentage
ROI = (Operating Income / Total Operating Assets) * 100
Given:
Operating Income = $7,936
Total Operating Assets = $64,000
Substituting the values into the formula:
ROI = (7,936 / 64,000) * 100
= 0.1235 * 100
= 12.40%
Therefore, the return on investment (ROI) is 12.40%.
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the value of 4 + -3 take away negative 7 is
Answers
Answer:
-6
Explanation:
1-7 =-6
Diversification is a high-risk business development strategy. Define diversification and the reason this strategy is pursued by corporations. In your answer, outline questions to ensure corporations get diversification right.
Answers
Diversification is a high-risk business development strategy used by corporations. It is a strategy of expanding business activities and exploring different markets to reduce risk and increase profit.
This approach helps companies grow and survive in the long run as it helps reduce the risks associated with over-reliance on a single product or market. Diversification is often pursued by corporations for several reasons. One of the main reasons is to take advantage of the untapped potential of new markets, products, and technologies. It provides businesses with an opportunity to grow and expand beyond their existing markets and product lines, allowing them to enter new markets and gain a competitive advantage.
This strategy is particularly important in industries where technological advances can quickly make products and services obsolete. To ensure that corporations get diversification right, they should ask themselves the following questions: 1. What are the core competencies and capabilities of the corporation, and how do they align with the new market or product line? 2. What is the potential of the new market, and is there sufficient demand for the product or service? 3. What are the risks associated with entering the new market or developing the new product, and how can they be mitigated?
By answering these questions, corporations can make informed decisions regarding diversification and minimize the risks associated with this high-risk business development strategy.
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how are wages determined in a free market?
Answers
Answer:
Classical economists argue that wages—the price of labor—are determined (like all prices) by supply and demand. They call this the market theory of wage determination. ... Long story short: the price of labor is determined in the free market just like every other price, by the intersection of supply and demand.
Explanation:
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Which of the following words could be registered as a trademark?
a. Crunchy peanut butter.
b. Low-fat peanut butter.
c. Green peas.
d. yStar peanuts.
Answers
The following words could be registered as a trademark are Crunchy peanut butter and y Star peanuts. A trademark is a symbol or sign used to identify goods or services that are provided or manufactured by an entity or individual.
Trademarks are governed by intellectual property law and are used to protect the goods of the owner by ensuring that no other party may sell or trade products with a similar design or name without the owner's permission. Words that can be registered as trademarks.
A name that is distinctive of the products or services. A term or phrase that is exclusive to the goods or services and is not commonly used. A logo or design that is unique and represents the product or service. A sound or audio sequence that is unique to the product or service.
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true or false Resource owners must feel that their incomes are large enough so that they will continue to supply resources
Answers
Answer:
True.
Explanation:
A _____ _____ is similar to a bond payable but is normally transacted with a single lender such as a bank
Answers
A note is transacted through a single lender but it is similar to a bond payable.
What are bonds?Bonds are the trading securities in the stock market which provide a constant amount of interest to the holder of bonds.
A note is a kind of debt where one party, that is, the payer agrees to pay back against the amount taken from the other party, that is, the lender. In the case of bonds, they are issued by companies to a large group of investors, called bond investors. Both are debts but contrasted on the basis of a number of lenders.
Therefore, the bond payable is similar to the note but differentiated due to the involvement of only one lender.
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If my revenue is one million and my expenses are 1,386,000, what's my profit in percentage
Answers
The profit in percentage given the revenue and the expenses is -38.60%
What is the profit in percentage?Percentage is the fraction of a number expressed as a value out of 100. The sign that is used to represent percentage is %. In order to convert a number to percentage, multiply by 100.
Profit is the difference between revenue and expenses. Revenue is the total income earned by a company before any deductions are made. Expenses include all the cost incurred in running a business.
Profit = revenue - expenses
1,000,000 - 1,386,000 = -386,000
Profit in percentage = (profit / revenue) x 100
(-386,000 / 1,000,000) x 100 = -38.6%
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A loss on impairment of an intangible asset is the difference between the asset’s?
Answers
D) the carrying amount and its fair value, is the correct response.
An important step in properly accounting for an intangible asset is testing for impairment. Goodwill and some intangible assets are exempt from the requirement for an annual impairment test.
When an asset's carrying amount exceeds its recoverable amount, this is called an impairment loss. Between the useable value and the fair value less the cost to sell, the recoverable amount is higher. The present value of the anticipated cash flows over a predetermined time period is the value in use. The amount that is anticipated to be received by selling the asset is the fair value less the cost to sell, which is determined by the cost of making the sale happen.
What signs of impairment are there?decrease in market valuenegative shifts in the economy, technology, markets, or laws.escalating interest rates in the market.The company's net assets are greater than its market capitalization.To learn more about Testing for Impairment here
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Full Question = A loss on impairment of an intangible asset is the difference between the asset's:
a. carrying amount and the expected future net cash flows.
b. fair value and the expected future net cash flows.
c. book value and its fair value.
d. carrying amount and its fair value.
what happens to the equilibrium price and quantity of steaks, if the price of chicken meat, a substitute to steaks, decreases, and regulations make the production of steaks more expensive? please show graphically and explain your prediction in a few words.
Answers
Costly production causes supply to shift, which causes output to decline and prices to rise. However, as substitute prices fall, demand will shift to the left, resulting in a decrease in output as well as price for steak.
What is steak?
A steak is a thick piece of meat that is typically cut across the muscle fibres and occasionally contains a bone. Typically, it is grilled or fried. Steak can be minced and made into patties for hamburgers or diced and cooked in sauce for steak and kidney pie. Various animals, including cattle, bison, camels, goats, horses, kangaroos, sheep, ostriches, reindeer, turkeys, deer, and zebu, as well as different kinds of fish, particularly salmon and large fish like swordfish, sharks, and marlin, are used to make steaks. These cuts are frequently referred to as chops when they come from certain meats, like pork, lamb and mutton, chevon, and veal. Some types of cured meat, like gammon, are frequently served as steak.
Finally, prices will be decided based on the magnitudes of shifts. However, output will decrease for both shifts.
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A nurse earns $31,400 annually and receives a 4% raise in salary. What is the new salary?
Answers
The new salary can be found using the formula:
\(\rm New\: salary = Old\: salary + (Percent\: increase \cdot Old\: salary)\)
First, we need to convert the percentage increase to a decimal:
\(\rm\qquad\quad\implies 4\% = 0.04\)
Next, we can plug in the given values:
\(\rm New\: salary = 31,400 + (0.04 \cdot 31,400)\)
Simplifying this equation, we get:
\(\rm New\: salary = 31,400 + 1,256\)
\(\rm New\: salary = 32,656\)
\(\therefore\) The nurse's new salary is $32,656.
\(\blue{\overline{\qquad\qquad\qquad\qquad\qquad\qquad\qquad\qquad\qquad\qquad\qquad\qquad\qquad\qquad\qquad}}\)
to be effective, a leader must understand the aspects of the organization such as values, attitudes, and personalities. multiple choice cognitive behavioral informal formal
Answers
To be effective, a leader must understand the informal aspects of the organization such as values, attitudes, and personalities.
What is informal organization?The social network that underpins everyday interactions between individuals is known as the informal organization. Work gets done and relationships are formed among persons who have a common organizational affiliation or cluster of affiliations through an amalgam of norms, personal connections, and professional connections. It is made up of a dynamic collection of interpersonal connections, social networks, groups of people who share interests, and emotional drives. Both the informal organization and its members' intricate social dynamics change over time.The nature of the informal organization becomes more distinct when its key characteristics are juxtaposed with those of the formal organization.Key characteristics of the informal organization:
evolving constantlygrassrootsdynamic and responsiveexcellent at motivationrequires insider knowledge to be seentreats people as individualsflat and fluidcohered by trust and reciprocitydifficult to pin downcollective decision-makingessential for situations that change quickly or are not yet fully understoodTo be an effective leader, you must understand your own motivations, strengths, and weaknesses. Effective leaders related with their team by facilitating open communication, encouraging employee growth and development, and giving and receiving feedback.The informal aspects are the focus of the interdisciplinary, which is dedicated to better understanding and managing people at work.To learn more about informal organization, refer to
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A salesperson at Plumbers Warehouse searches public records of new building permits to identify potential customers for new bathrooms. This salesperson is relying on ____ to identify sales prospects.
Answers
Complete Question:
A salesperson at Plumbers Warehouse searches public records of new building permits to identify potential customers for new bathrooms. This salesperson is relying on ____ to identify sales prospects.
Group of answer choices
A) personal referrals
B) marketer-initiated contacts
C) impersonal referrals
D) customer-initiated contacts
Answer:
C) impersonal referrals.
Explanation:
In this scenario, a salesperson at Plumbers Warehouse searches public records of new building permits to identify potential customers for new bathrooms. This salesperson is relying on impersonal referrals to identify sales prospects.
An impersonal referrals can be defined as the process of acquiring informations about a potential customer from personal sources, public records etc. It is one of the common techniques used in prospecting, which typically involves the continual process of systematically looking or sourcing for new customers.
ISO 14001 is an internationally agreed standard that sets out the requirements for an environmental management system. It helps organizations improve their environmental performance through more efficient use of resources and reduction of waste, gaining a competitive advantage and the trust of stakeholders.
Answers
ISO 14001 helps organizations improve their environmental performance by focusing on the efficient use of resources and reduction of waste, ultimately leading to a competitive advantage and increased stakeholder trust.
Here is a concise explanation that includes the terms you mentioned:
ISO 14001 is an internationally agreed standard that outlines the requirements for an Environmental Management System (EMS). It assists organizations in enhancing their environmental performance by focusing on two key aspects:
1. Efficient use of resources: This involves optimizing resource consumption, such as raw materials, energy, and water, to minimize waste and lower operating costs.
2. Reduction of waste: By implementing ISO 14001, organizations can identify and control the environmental impact of their activities, products, and services, leading to waste reduction and improved sustainability.
The implementation of an EMS based on ISO 14001 can provide organizations with a competitive advantage and earn the trust of stakeholders (e.g., customers, suppliers, regulators, and investors) by demonstrating their commitment to environmental responsibility.
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Prepare an income statement using the following information for CK Company for the month of February 2019. Sales revenue $26,250
Rental revenue 6,426
Product expense 21,924
Wages expense 7,938
Owner investment 5,040
Equipment purchases 23,520
Utilities expense 756
Taxes expense 168
Answers
The income statement for CK Company for the month of February 2019 is given below
| Income Statement | Amount |
| --- | --- |
| Sales revenue | $26,250 |
| Rental revenue | $6,426 |
| Total Revenue | $32,676 |
| Product expense | $21,924 |
| Wages expense | $7,938 |
| Utilities expense | $756 |
| Taxes expense | $168 |
| Total Expenses | $30,786 |
| Net Income | $1,890 |
The income statement projects that CK Company collected a total revenue of $32,676 in February 2019. The company's total expenses was $30,786 which involves product expense of $21,924, wages expense of $7,938, utilities expense of $756, and taxes expense of $168.
The company's evaluated net income for February 2019 was $1,890 which is solved by subtracting total expenses from total revenue.
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