Western Medical buys used medical equipment from BC hospitals, refurbishes it and sells it to private hospitals and medical labs in other countries. Western Medical has also found success in loaning medical equipment to movie production sites around Vancouver. John Moss is the CEO of Western Medical and he wants to reach a larger audience for the rental side of the market. He knows there are many movie production companies all across North America and he feels this could be a very lucrative business. The manager for Western Medical’s rental department thinks John should set up an e-commerce site specifically for movie production site rentals. However, John is hesitant to do that because he does not know enough about technology. He decides to hire you to consult him on this. You are a knowledge worker and you have studied Busi 237. You recommend to John that he should definitely start doing business online and you list off the advantages of doing so. John listens to your recommendation and finally agrees to set up an e-commerce site. The first thing you need to do is determine the category of customers that Western Medical will be trying to target. Then you tell John that he will need to make a detailed plan outlining the specific markets he is aiming for and the sales numbers he is hoping to achieve. John has been in the medical supplies business for over 30 years and he has always relied on dealing with customers face-to-face and he is unsure how to do this in an online market. You explain to John how to go about finding customers online and how sales can be carried out efficiently and effectively. Using the key terms and concepts from your textbook explain what you will say to John.
Answers
Western Medical must invest in online marketing to establish an online presence. Online marketing includes paid ads, email marketing, and social media marketing. Through this process, Western Medical will reach a wider audience and increase their customer base. So, John can still use his face-to-face sales tactics in the online market.
Western Medical deals with used medical equipment from BC hospitals, refurbishes it and sells it to private hospitals and medical labs in other countries. They have been loaning medical equipment to movie production sites around Vancouver and want to expand their rental services. Western Medical's CEO, John Moss, is interested in expanding into North America's movie production companies. However, he lacks knowledge about technology. Western Medical wants to target a specific category of customers.
The advantages of going online are lower overhead costs, a wider reach, and customer convenience. The plan for specific markets, sales numbers, and customer bases must be precise. John's expertise relies on face-to-face interaction with customers, making him uncertain about online markets. The way to find customers online is to conduct research and invest in online marketing.Western Medical will be targeting the film production industry with their rental equipment. Expanding into the market will result in a substantial increase in sales numbers and a wider market reach. By going online, they will be able to keep overhead costs low and focus on online marketing instead. John will need to create a detailed plan outlining the specific market and target audience he aims for.
To enter the North American film production market, research into the industry must be conducted to find out the key players in the business and what their demands and needs are. By finding this information, Western Medical can refine their marketing strategies and increase their sales numbers effectively and efficiently. John can continue to use his interpersonal skills to sell and interact with customers by setting up a customer service hotline or implementing chatbots to communicate with customers. By doing this, John can still use his face-to-face sales tactics in the online market.
Finally, Western Medical must invest in online marketing to establish an online presence. Online marketing includes paid ads, email marketing, and social media marketing. Through this process, Western Medical will reach a wider audience and increase their customer base.
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Related Questions
Advise someone on the implications of CPA on businesses
Answers
Answer:
Impact of the CPA on businesses
The main function of the Consumer Protection Act now is to protect consumers against product liability. Protection against product liability means that consumers are protected if the product they purchase from you is defective and causes further damage.
Explanation:
Hope it helps! Correct me if I am wrong :>
Which of the following is true about certified public accountants (CPAs)?
O A. CPAs work for government agencies and corporations.
B. CPAs only work in the public sector.
C. CPAs only work in the private sector.
O D. CPAs work for small businesses but not large businesses.
Answers
Answer:
A. CPAs work for government agencies and corporations.
Explanation:
Certified public accountant (CPA) is the title for skilled, competent, and professionally trained accounts. Accountants play a significant role in any organization's success, be it a business-oriented, government institution, or not-for-profit organization. Employers seek and employ qualified and certified accountants to work in their organizations.
Both the public and private sector engage the services of certified account to take charge of accounting and financial management. The objective is to ensure that financial transactions are recorded correctly, and the financial statement reflects the true picture of the organization as per the generally accepted accounting principles.
With a(n) _______, the full amount of the loan is received when the contract is signed, but only the interest is paid over the life of the loan. The principal is then paid on the date that the loan is due. Question 14 options: retirement loan balloon loan line of credit installment loan
Answers
Answer:
Balloon loan
Explanation:
Balloon loan is a type of a relatively short term loan common in the commercial lending where only a portion of the principal amount , the interest is amortized over that period and the total outstanding amount , the principal is the final payment at the end of the loan period.
This makes the final payment to be significantly high compared to the other payments made over the entire loan period , hence the name balloon (inflated ) name given to it.
Mention five legal ways to spend money
Answers
Some ways that you can spend money legally are:
Buying booksGoing on a vacationBuying a companyGiving to the poor or a charityEmploying laborWhat is Money?This refers to the legal tender that is used for the buying and selling of goods and services that have an inherent value
Hence, we can see that based on the given question, money can be spent in a variety of ways legally and this includes starting a business, giving to the poor, etc.
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The following exchange demonstrates which problem solving technique?
We pay higher costs than we need to when we go bowling because we don’t own our own equipment.
a.
Fishbone Diagram
b.
Five Whys
c.
Cluster Mapping
d.
Brainstorming
Answers
Answer:
a. Fishbone Diagram
Explanation:
The problem-solving process can be defined as the systematic approach used to identify and determine the solution to a particular problem.
The steps involved in the problem-solving process are;
1. Identify and define the problem.
2. Gathering of information.
3. Consider your options.
4. Weigh disadvantages and evaluate a solution.
A Fishbone diagram is also referred to as Ishikawa diagram and it can be defined as a cause and effect diagram that is typically used by managers to identify possible reasons for failure, defect, variation, imperfection, so as to discover the root cause of a problem and proffering the right solution. It was designed and developed by Professor Kaoru Ishikawa in the 1960s.
Cause and effect can be defined as the relationship between two things or events in which an occurrence one (cause) leads to the occurrence of another (effect).
Hence, the following exchange "We pay higher costs than we need to when we go bowling because we don’t own our own equipment." demonstrates the Fishbone diagram.
from You tube "The Secret History of the Credit Card (full documentary) | FRONTLINE"1. Who are the stakeholders in the credit card industry? How does each stakeholder gain or lose in the story?2. What responsibilities does the government uphold in the story? Has the government fulfilled the responsibilities, in your opinion?3. Some argue that consumers are responsible for their spending habits with credit cards. Should credit card companies be blamed for their business tactics? Why or why not?
Answers
1. The stakeholders in the credit card industry include banks, credit card companies, and consumers.
2. The government has a responsibility to ensure that the industry operates in a fair and safe manner.
3. Yes. Because it also engages in unethical business practices. The consumer is responsible for their spending habits
1. The stakeholders in the credit card industry include banks, credit card companies, and consumers. Banks and credit card companies gain from high interest rates, fees, and late payments, while consumers lose when they take on more debt than they can handle or when they face unfair practices.
2. The government has a responsibility to ensure that the industry operates in a fair and safe manner. The documentary highlights that the government has failed to do this, as lenders have taken advantage of consumers.
3. It is difficult to assign blame to either the consumer or the credit card company. Ultimately, the consumer is responsible for their spending habits, but the credit card companies are also engaging in unethical business practices. Therefore, both the consumer and the credit card companies should take responsibility for their actions.
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12. As the second trial began, what happened to Ruby Bates?
Answers
She was missing and they could not find her.
Why can communicating with someone with a different background than yours present challenges?
Answers
You can edit contents of a cell by:
Changing font type, size
Adding a fill color
Adding borders
All of the above
Answers
Answer:
All of the above
Explanation:
I took the k12 test
How do the events of the nation affect the national debt?
Answers
Answer: Growing debt has a direct effect on economic growth and the opportunities available to every individual in the country. If excessive levels of debt crowd out private or public or mutual investments in capital goods or works, workers would have less to use and get from their jobs, which would translate to lower productivity work and, therefore, lower wages in multiple aspects of the country's work done. High levels of debt would affect many other aspects of the economy in the future. For eq, higher interest rates result from increased borrowing from multiple agencies and invite under the various segments of college education house loan work loan. Less education and work opportunities will need skills up for various degrees and work to be followed under any scheme.
Explanation:
If we fail to act before a stipulated time the long time fiscal challenges will remain unaddressed and unchanged. The economic crisis and the overall economic environment weaken as confidence suffers, the access to capital funds gets reduced, interest costs crowd out key investments in our future, the conditions for growth deteriorate, and our nation is put at greater risk of economic crisis. If our long-term fiscal imbalance is not addressed, our future economy will be minimized, with fewer economic opportunities for families and workers down there in their own country.In the following pictograph, how many books has Group 3 read?
18
25
15
12
Answers
Answer:
15 is the answer you are looking
Which best describes the business, management, and administration career cluster?
Answers
Answer:
are careers that are focused on running businesses.
Explanation:
The Business, Management, and Administration career cluster includes business skills essential to efficient, productive operations for any company (Administrative and information support, Business analysis, Business, financial management and accounting, Human resources, Management..) The Business, Management, and Administration career cluster is best described with the following: These are careers that are focused on running businesses.
Correct answer: A
A policy endorsement that protects you from rising prices negatively impacting a claim is called a(n):
Answers
A Cost of Living Adjustment (COLA) endorsement is a policy endorsement that protects you from rising prices negatively impacting a claim.
This endorsement ensures that the amount of money you receive in a claim is adjusted for inflation so that it is not eroded by increasing costs. The COLA endorsement will increase your claim amount to reflect the changes in the Consumer Price Index.
This way, you can ensure that you will receive the same amount of money, regardless of changes in prices. So the answer is the Cost of Living Adjustment (COLA) endorsement policy.
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why should the production requirements set forth in the production budget be carefully coordinated with the sales budget?
Answers
The production budget and sales budget need to be carefully coordinated in order to ensure that the resources and funding allocated to production are used efficiently and effectively.
This coordination allows the company to plan for the correct amount of production, enabling them to meet customer demand without over or under producing. Overproduction can lead to inefficiencies and wasted resources, while underproduction can lead to customer dissatisfaction and missed opportunities for sales.
Additionally, it is important that the production budget is coordinated with the sales budget so that the company can anticipate how much money they need to invest in production in order to reach their sales goals. By coordinating these two budgeting documents, companies can ensure that their production and sales plans are aligned with their overall financial goals.
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when is the irs sending out refunds for earned income credit
Answers
March 1, 2022 is the IRS sending out refunds for earned income credit. The IRS says it generally begins issuing tax refunds within 21 days of receipt of a tax return, but those claiming an EIC may have to wait longer.
According to the IRS's website, he will not start issuing EIC tax refunds to those who set up direct deposits until March 1, 2022 or a few days before.
The IRS recommends using online resources before calling. In the latest filing season, due to COVID-era tax changes and the broader pandemic challenges, the IRS phone system saw him receive more than 145 million calls between January 1 and May 17. rice field.
That's more than four times the average year. In addition to IRS.gov, the IRS offers a variety of free options to help taxpayers. This includes everything from free assistance with voluntary income tax assistance and tax advice for seniors nationwide, to the availability of the IRS Free File program.
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Describe the information needed to produce an aggregate plan. (2) Explain the basic trade-offs to consider when creating an aggregate plan.
Answers
Information needed for an aggregate plan includes demand forecasts and capacity constraints. The basic trade-offs in aggregate planning involve production costs vs. inventory costs, customer service levels vs. cost, flexibility vs. stability, and subcontracting vs. in-house production.
To produce an aggregate plan, the following information is needed:
Demand Forecast: Information about the expected demand for the products or services during the planning horizon is necessary.
Capacity Constraints: Understanding the capacity limitations of various resources, such as labor, machinery, and facilities, is crucial. This includes information on production rates, workforce availability, machine capacities, and other relevant constraints.
The basic trade-offs to consider when creating an aggregate plan are:
Production Costs vs. Inventory Costs: Increasing production levels can lead to higher production costs, such as labor and materials, while maintaining higher inventory levels incurs carrying costs.
Customer Service Levels vs. Cost: Higher production levels can result in better customer service and shorter lead times. However, increased production may also lead to higher costs.
Flexibility vs. Stability: A more flexible aggregate plan allows for adjustments based on demand fluctuations, but it can increase costs.
Subcontracting vs. In-house Production: Choosing between subcontracting and in-house production involves trade-offs between costs, quality control, lead times, and capacity utilization.
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Imagine you are a member of the Academy of Management (AOM) and on the steering committee to choose a location for the organization’s annual meeting. When making the recommendation, you will explain which management theory was used to make that choice. One steering committee member insists that the AOM choose the location by using state-of-the-art information management to compile data about member locations and members’ history of attending past annual meetings.
This reflects which approach to management?
(A) Operations management
(B) Contingency management
(C) Systems management(D) Information management
Answers
This reflects which approach to management: (D) Information management.
Information management is the way to progress for any organization. It can assist organizations with achieving their goals by proficiently managing information lifecycle. It also assists them with avoiding security breaches and data misfortune which could lead to financial misfortune or other consequences.
Information management is the most common way of gathering, putting away, and organizing data in a way that allows for proficient retrieval and use. Its motivation is to guarantee that the right information is available to the perfect individuals at the ideal opportunity, to facilitate decision-making and backing the productive operation of an organization.
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an artisan creates handmade soaps and sells them at her local farmers market. what channel of distribution does she use?
Answers
The artisan in this scenario is using a direct channel of distribution to sell her handmade soaps. This means that she is bypassing intermediaries, such as wholesalers or retailers, and is selling directly to her customers at the local farmers market.
Direct channels of distribution are commonly used by small businesses and artisans because they are cost-effective and allow for direct contact with customers. By selling directly to customers, the artisan can gain valuable feedback and insights that can be used to improve her products and marketing strategies. Additionally, this channel of distribution allows for greater control over pricing, branding, and product positioning.
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Can anyone here help me with a P.O.B sba??
Please
Answers
Answer:
que
Explanation:
which step in the new product development process involves estimating costs and sales to get a feel for the new product's potential profitability.
Answers
The step in the new product development process that involves estimating costs and sales to get a feel for the new product's potential profitability is the market analysis.
Market analysis includes researching customer needs and competitive products, analyzing the target market and determining pricing strategies.
This step of the process is important as it helps determine the potential profitability of the new product, by assessing the size of the market, estimating sales potential, understanding customer needs and the competitive environment, and assessing potential risks.
The market analysis is conducted using market research techniques, such as surveys, focus groups, and interviews, as well as analysis of secondary data from public sources such as census data, economic data, and other published information.
Additionally, companies may use a financial analysis to estimate the profitability of the product in order to make decisions about the new product launch.
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theg3eu3guyrgufgrgifrggiygiyrgirgigv
Answers
Answer:
I xixed3odn3dno3xnomxend4ond4imx74d diendeinxe said einxiw dueoxni3d 3id 2did 2iz
5. What is the definition of a want? O A. Something you would like to have but will be okay without it. B. Something that is required or very important. O C. Something you can have every other day. D D. None of the above.
Answers
Answer: A
Explanation:
:)
Answer:
A bc it is means to want sum
If I were journalizing a prepaid expense, prepaid rent to be specific, what journal would I journalize the transaction in?
I know I have to debit prepaid rent and credit cash in bank, I just don't know which journals to use.
Answers
The journal entry for prepaid rent would be a debit to Prepaid Rent and a credit to Cash or Bank Account.
If you are journalizing a prepaid expense for prepaid rent, the journal entry would be
Debit - Prepaid Rent
Credit - Cash or Bank Account
The debit to Prepaid Rent account will increase the balance of the prepaid rent asset account, which represents the portion of rent that has been paid in advance but has not yet been used or consumed. The credit to Cash or Bank Account will decrease the balance of the cash or bank account, reflecting the payment made for the prepaid rent.
The journal entry records the payment of rent in advance as a prepaid expense, which will be recognized as an expense over the period for which the rent has been paid. As time passes, a portion of the prepaid rent will be recognized as an expense in the income statement, and the balance in the prepaid rent account will be reduced accordingly.
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whats the difference between life values and work values
Answers
Answer:
life values: are things you respect in your rights as a human
Authenticity Adventure Balance.
Bravery Compassion Challenge.
Citizenship Community Creativity.
Curiosity Determination Fairness.
Freedom Friendships Fun.
Generosity Growth Honesty.
Integrity Justice Kindness.
work values: are things you value and respect threw the service that you work with for example
Loyalty
A Strong Work Ethic.
Dependability and Responsibility.
Possessing a Positive Attitude.
Adaptability.
Honesty and Integrity.
Self-Motivated.
Motivated to Grow and Learn.
Strong Self-Confidence.
The income of a farmer is uncertain because of the weather shocks her farm is exposed to. In the good state of nature, which happens with 20% probability, her yield will be worth $10,000, while in the bad state of nature, which happens with 80% probability, her yield will be worth $5,000. The farmer’s utility (happiness) u depends only on the value of her wealth w according to the function: u(w) = ln(w). A. Calculate the farmer’s expected yield in the absence of insurance. B. Calculate the farmer’s expected utility in the absence of insurance. The farmer receives an offer to purchase an insurance product which will give her $5,000 in the bad state of nature in exchange for an up-front non-refundable fee (insurance premium) of $3,500. She has no other insurance mechanism available. C. Calculate the farmer’s expected utility if she purchases the insurance product. D. Will the farmer choose to purchase the insurance product? Suppose now that the fee is $4,500. E. Will the farmer purchase the insurance product if the fee is $4,500 instead?
Answers
Comparing her expected utility without insurance is 8.6995, while her utility with insurance is 9.1164. Therefore, the farmer will still choose to purchase product even if the fee is $4,500 instead of $3,500.
A. The expected yield of the farmer in the absence of insurance can be calculated as follows:
Expected yield = (0.2 x $10,000) + (0.8 x $5,000) = $6,000
Therefore, the expected yield of the farmer in the absence of insurance is $6,000.
B. The expected utility of the farmer in the absence of insurance can be calculated using the following formula:
Expected utility = ln[(0.2 x $10,000) + (0.8 x $5,000)]
Expected utility = ln($6,000)
Expected utility = 8.6995
Therefore, the expected utility of the farmer in the absence of insurance is 8.6995.
C. If the farmer purchases the insurance product, her yield in the bad state of nature will be $5,000 + $3,500 = $8,500. Therefore, her expected yield will be:
Expected yield = (0.2 x $10,000) + (0.8 x $8,500) = $8,200
The expected utility of the farmer with insurance can be calculated as follows:
Expected utility = ln[(0.2 x $10,000) + (0.8 x $8,500)]
Expected utility = ln($8,200)
Expected utility = 9.0129
Therefore, the expected utility of the farmer with insurance is 9.0129.
D. To determine whether the farmer will choose to purchase the insurance product, we need to compare her expected utility with and without insurance. Without insurance, her expected utility is 8.6995. With insurance, her expected utility is 9.0129. Therefore, the farmer will choose to purchase the insurance product because it increases her expected utility.
E. If the fee for the insurance product is $4,500 instead of $3,500, then her expected yield in the bad state of nature will be $5,000 + $4,500 = $9,500. Her expected yield will be:
Expected yield = (0.2 x $10,000) + (0.8 x $9,500) = $9,200
The expected utility of the farmer with insurance can be calculated as follows:
Expected utility = ln[(0.2 x $10,000) + (0.8 x $9,500)]
Expected utility = ln($9,200)
Expected utility = 9.1164
Comparing her expected utility with and without insurance, her expected utility without insurance is 8.6995, while her expected utility with insurance is 9.1164. Therefore, the farmer will still choose to purchase the insurance product even if the fee is $4,500 instead of $3,500.
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what does it mean when the feds lower interest rates
Answers
Interest rates are lowered by the Fed in order to boost economic development. Reduced finance costs might entice people to borrow and invest. When interest rates are excessively low, however, they might stimulate excessive growth and perhaps inflation. On the other hand, if growth becomes excessive, the Fed will boost interest rates.
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ok have a good day ❀
Answers
Answer:
tank us.
Explanation:
how saving account fits with my time horizon retirement
Answers
An investment's time horizon is indeed the length of time it will be held before being sold. Choose the best Retirement savings are the most popular long-term investments.
What do you mean by investment?A purchase made with the intention of creating income or capital growth is known as an investment. Appreciation is the term for an asset's value rising over time. A person buys in a good with the intention of using it to build wealth in the future rather than for current consumption.
How can beginners invest?Open a Demat and trading account using your linked banking account. Log into that trading account. Select the shares that you wish to buy or sell. Ensure that you have the requisite amount of funds in your account to buy the shares.
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If x is a Walrasian equilibrium allocation at equilibrium prices p, and if everybody likes their bundle in allocation y strictly better than their bundle in allocation x, then the total value of allocation y at prices p strictly exceeds the total value of allocation x at prices p
Answers
If everyone prefers their bundle in allocation y over allocation x in a Walrasian equilibrium, the total value of allocation y at prices p will strictly exceed the total value of allocation x at prices p.
In a Walrasian equilibrium, the allocation x represents an efficient allocation where the market clears and supply equals demand at prices p. If everyone in the market prefers their bundle in allocation y over their bundle in allocation x, it implies that y is a preferred allocation for all individuals.
Given that preferences are strictly better for allocation y, it follows that the total value of allocation y at prices p will be higher than the total value of allocation x at prices p. The total value of an allocation can be measured by aggregating the individual utilities or values assigned to each person's bundle.
Hence, since everyone prefers their bundle in allocation y over allocation x, it implies that the total value of allocation y at prices p will strictly exceed the total value of allocation x at prices p. This highlights the superiority of allocation y in terms of overall satisfaction or utility compared to allocation x within the given price system.
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Which sequence of HACCP principles is in the correct order?
A.
Establish critical limits for each CCP, conduct a hazard analysis, and establish corrective actions.
B.
Conduct a hazard analysis, identify CCPs, and establish critical limits for each CCP.
C.
Establish record-keeping procedures, establish corrective actions, and establish CCP monitoring requirements.
D.
Establish CCP monitoring requirements, conduct a hazard analysis, and identify CCPs.
E.
Conduct a hazard analysis, identify CCPs, and establish CCP monitoring requirements.
Answers
Answer:
B
Explanation:
Hazard analysis of critical control point (HACCP) is a process of identifying and assessing risks alongside the biological , physical and chemical hazards associated with food production .
The sequence of the first three of the seven principles are
1. Conduct hazard analysis to determine potential risks related to food protection
2. Identify the critical control point (CCP) which addresses controlling identified hazards that are mostly likely to cause injury to health
3. Establishing critical limits for each CCP , which is the highest or lowest level a biological ,physical or chemical parameter must be controlled to prevent or minimize hazards.
Answer:
B. Conduct a hazard analysis, identify CCPs, and establish critical limits for each CCP
Explanation: