The statement that is NOT correct is: A) Warren's medical expense policy was reinstated on September 30, and he became ill and entered the hospital on October 5. His hospital expense will not be paid by insurer.
In health insurance policies, the grace period is a specified period after the premium due date during which the policy remains in force even if the premium payment is not received. The reinstatement provision allows the policyholder to reinstate a lapsed policy by paying the outstanding premium within a certain timeframe.
Option A states that Warren's medical expense policy was reinstated on September 30, but his hospital expense on October 5 will not be paid by the insurer. This statement is incorrect. Once a policy is reinstated, the insurer typically covers any subsequent eligible expenses, including hospital expenses, as long as they fall within the terms and conditions of the policy.
Option B describes a situation where Craig's health policy had a grace period of 31 days, and he mailed his premium within that grace period. In this case, his policy would have remained in force, which is a correct statement.
Option C mentions the variation in grace periods required by different states based on premium payment mode or term of insurance, with many states requiring a 31-day grace period in any case. This is generally true and reflects the regulatory flexibility in grace period requirements.
Option D states that insured losses from an illness are covered immediately after reinstatement, which is generally correct. Once a policy is reinstated, the coverage for eligible losses, including those resulting from an illness, is typically restored.
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Note: The complete question is:
Which of the following statements pertaining to the grace period and reinstatement provisions in health insurance policies is NOT correct?
A) Warren's medical expense policy was reinstated on September 30 and he became ill and entered the hospital on October 5. His hospital expense will not be paid by the insurer.
B) Craig's health policy has a grace period of 31 days. He had a premium due June 15 while he was on vacation. He returned home July 7, mailed his premium the next day and the insurer received it July 10. His policy would have remained in force.
C) States may require grace periods of 7,10, or 31 days, depending on the mode of premium payment or term of insurance. However, many states require a 31-day grace period in any case.
D) Under a health policy's reinstatement terms, insured losses from an illness are covered immediately after reinstatement.
which of the following is not a good reason to form a family partnership? multiple choice no gift tax is due on the transfer non-voting interests can be given to younger family members to ensure the older generation maintains operational control a buy-sell agreement can ensure that all ownership interests are retained in the family income can be shifted to lower-tax-rate individuals
The reason that is not a good reason to form a family partnership is: no gift tax is due on the transfer.
Forming a family partnership can be an effective way to manage and transfer family assets, but it's important to understand the reasons and implications behind such a decision. While the other three options provided (non-voting interests, maintaining operational control, and income shifting) can be valid reasons for forming a family partnership, the statement "no gift tax is due on the transfer" is not a sufficient reason on its own. The formation of a family partnership should not solely be motivated by avoiding gift taxes. While transferring assets through a family partnership may have gift tax benefits, the primary focus should be on the operational and strategic aspects of the partnership, such as maintaining control, succession planning, and tax efficiency.
Family partnerships are typically formed to facilitate effective management and control of family-owned assets, provide a framework for generational transfers, and ensure continuity in the family business or wealth management. Non-voting interests can be given to younger family members to gradually involve them in the partnership's operations while maintaining control with the older generation. A buy-sell agreement can help establish a mechanism for the smooth transition of ownership within the family. Income shifting to lower-tax-rate individuals can be achieved through proper tax planning and structuring.
In summary, forming a family partnership should be based on the strategic and operational needs of the family, rather than solely focusing on avoiding gift taxes. Gift tax implications should be considered as part of a comprehensive approach to family wealth and business management.
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With a probabilistic model, increasing the service level
A. will decrease the level of safety stock
B. will increase the cost of the inventory policy.
C. will reduce the cost of the inventory policy.
D. will have no impact on the cost of the inventory policy.
With a probabilistic model, increasing the service level will increase the cost of the inventory policy.
The probabilistic inventory model closely reflects the fact that demand will fluctuate from time to time in production and retail. Demand fluctuations can lead to shortages, especially if a merchant only has a small amount of inventory on hand to meet demand during the wait period while replenishment stock is still on the way.
Based on three options, the probabilistic inventory model integrates demand fluctuation and lead time uncertainty. The first is when demand is consistent throughout the lead time but the lead time itself varies, and the second is when demand is constant during the lead time but the lead time itself changes. The third scenario is one in which lead time and demand fluctuate simultaneously.
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gross domestic product is the sum of the market value of the:
Answer:
The Gross Domestic Product measures the value of economic activity within a country. Strictly defined, GDP is the sum of the market values, or prices, of all final goods and services produced in an economy during a period of time.
Explanation:
where do you go to add some personal branding to an invoice template?
To add some personal branding to an invoice template, you can typically use a software program that allows you to customize the template.
Here are a few steps you can take:
Open the invoice template: The invoice template can be opened in a software programme such as Microsoft Word, Excel.Insert your company logo or any other branding image into the design by inserting an image or picture into the template's header or footer area.Customise the colour scheme: You can change the font colour, background colour, or border colour of the template to fit your brand colours.Insert your company information: In the template's header or footer, you can insert your company name, address, phone number, and email address.Save the customised template: Once you've made the changes you want, save the customised template as a new file to use for future invoices.For such more question on invoice:
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Which savings account will earn the most interest?
A $5,000 at 4 percent interest compounded for four years
B. $10,000 at 2 percent interesi compounded for four years
C. $10,000 at 2 percent simple interest for four years
D. $5,000 at 4 percent simple interest for four years
The savings account that will earn the most interest is $10,000 at 2 percent interest compounded for four years.
What is simple interest and compound interest?Simple interest rate is the interest that is paid only on the principal portion of a loan. Compound interest is when both the amount deposited and the interest already earn increase in value when interest is paid.
Thus, when an account is compounded and the other earns a simple interest, the account that earns a compound interest would have a higher value than the account that earns a simple interest.
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Answer:
The answer is A. $5,000 at 4 percent interest compounded for four years.
the correct ranking of degree of market power (from highest to lowest) is
The correct ranking of degree of market power (from highest to lowest) is monopoly, oligopoly, monopolistic competition, perfect competition.
1. Monopoly: Monopoly represents a market structure where there is a single seller or producer dominating the market with no close substitutes. The monopolist has significant control over pricing and output levels.
2. Oligopoly: Oligopoly refers to a market structure characterized by a small number of large firms that dominate the market. These firms have some degree of market power and can influence prices and market conditions.
3. Monopolistic Competition: Monopolistic competition describes a market structure with many sellers offering differentiated products. Each firm has some control over pricing and can differentiate its products through branding, marketing, or product features.
4. Perfect Competition: Perfect competition represents a market structure where there are many buyers and sellers, homogeneous products, perfect information, and free entry and exit. No individual firm has market power, and prices are determined by market forces.
This ranking reflects the decreasing level of market power from monopoly, where a single firm has the highest control, to perfect competition, where no firm has significant control over the market.
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During his first few days on the job as a sales clerk at Rainbow Mart, a big-box chain, Rick learned about customer service, inventory, processing returns, and dozens of other details. Yet during his first hour on the floor, Rick became flustered when he realized he could not operate the cash register. Of course, he had actually been taught this basic skill; Rick was simply experiencing ______, a common problem of communication in the organizational environment. Select one: a. the grapevine b. filtering c. information overload d. open-book management e. boundarylessness
The common problem of communication in the organizational environment that Rick experienced is information overload. More than 100 words have been provided below to explain this.Communication is the process of transmitting information and making sure that the information has been correctly understood by the receiver.
There are some common problems of communication in the organizational environment. One of the common problems of communication is information overload. Information overload occurs when there is an excessive amount of information and the person receiving the information is not capable of processing all the information in a meaningful way.During his first few days on the job as a sales clerk at Rainbow Mart, Rick learned about customer service, inventory, processing returns, and dozens of other details.
This information was essential for him to perform his job effectively. However, during his first hour on the floor, Rick became flustered when he realized he could not operate the cash register. Despite being taught this basic skill, Rick was experiencing information overload. He had received a lot of information, and his brain was unable to process it effectively, leading him to forget one of the basic skills required to perform his job.Therefore, we can conclude that Rick experienced information overload, which is a common problem of communication in the organizational environment.
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how long does it take for tax refund to show in bank account after approved
Answer:
Assuming no issues, IRS issues tax refunds in less than 21 calendar days after IRS receives the tax return. IRS has an on-line tool, "Where's My Tax Refund", at www.irs.gov that will provide the status of a tax refund using the taxpayer's SSN, filing status, and refund amount.
Explanation:
Sterling Company paid $1,200 for 3 months of rent on April 1 of the current year. On April 30, Sterling Company made an adjusting entry to account for the rent that expired during the month of April. The adjusting entry contained a debit to Rent Expense in the amount of $ _______ and a credit to Prepaid Rent in the amount of $ ______. The remaining balance in the Prepaid Rent account after the adjustment was $ ______.
Explanation:
the rent start on February first and paid 400 the expense rent are for 29 days on 13.7 USD per day
2. Which type of customer do business marketers NOT serve
The business marketers do not serve consumers who purchase products and services for their end-use.
Who are business marketers?These are entities that sell products/services to other companies that resell or uses them to support their works.
Hence, these business marketers do not serve consumers who purchase products and services for their end-use but they serve other business organizations.
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Question 22
1 pts
Which of the following is NOT a good reason to buy a stock index fund like the
S&P 500?
0 You want to have an investment that you don't have to monitor as closely as an actively
managed fund
0 You want to have an investment with low fees
O You want to "beat the market" with the return on your investment
O You want to have a diversified portfolio
Previous
Next
Answer:
You want to "beat the market" with the return on your investment
Explanation:
The SP 500 is a good example of diversified portfolio investment. Investing in the index fund is less costly compared to other investment instruments. The SP 500 is considered the benchmark of investment returns in the US. Any attempts to perform better than the SP 500 is termed as trying to "beat the market."
Investors prefer good stock indexes like the SP 500 because they represent diversified investments. They spread risks in many sectors of the economy. Stock indexes have low investment costs and don't need close contact monitoring. Trying to "beat the market" with stock indexes is a daunting task. Any investor who attempts it will end up very frustrated.
Upon dissolution of the partnership, one -third of the goes to each of its three founding partners. Since Partner Abel is deceased, his portion is split evenly among his four heirs. What portion of the company's value does each of these heirs receive?
Upon the dissolution of the partnership, the portion that would have gone to Partner Abel is split evenly among his four heirs, resulting in each heir receiving 1/4th (25%) of the company's value.
In this scenario, with three founding partners and the dissolution of the partnership, the value of the company is divided equally among the partners, resulting in each partner initially receiving 1/3rd (33.33%) of the company's value.
However, since Partner Abel is deceased, his portion is distributed among his four heirs.
Since the portion that would have gone to Partner Abel is now split evenly among his four heirs, each heir would receive an equal share. Therefore, each heir receives 1/4th (25%) of the company's value. This distribution ensures fairness and equal treatment among Partner Abel's heirs.
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Brown Cow Dairy uses the aging approach to estimate bad debt expense. The ending balance of each account receivable is aged on the basis of three time periods as follows: (1) not yet due, $19,000; (2) up to 120 days past due, $5,000; and (3) more than 120 days past due, $3,000. Experience has shown that for each age group, the average loss rate on the amount of the receivables at year-end due to uncollectibility is (1) 2 percent, (2) 11 percent, and (3) 30 percent, respectively. At December 31 (end of the current year), the Allowance for Doubtful Accounts balance is $830 (credit) before the end-of-period adjusting entry is made. Data during the current year follow: a. During December, an Account Receivable (Patty's Bake Shop) of $780 from a prior sale was determined to be uncollectible; therefore, it was written off immediately as a bad debt. b. On December 31, the appropriate adjusting entry for the year was recorded. Required: 1. Give the required journal entries for the two items listed above. 2. Show how the amounts related to Accounts Receivable and Bad Debt Expense would be reported on the income statement and balance sheet for the current year. Disregard income tax considerations.
Answer:
1a. Dec-31
Dr Allowance for doubtful accounts $780
Accounts receivable (Patty's Bake Shop) Cr $780
1b . Dec-31
Dr Bad debt expense $1,000
Cr Allowance for doubtful accounts $1,000
2a. Bad debt expense $1,000
2b. Doubtful accounts $25,170
Explanation:
1. Preparation of the journal entries
First step is to adjust for estimated bad debt expense for current year
Aged Accounts Receivable Estimated Percentage Uncollectible Estimated Amount Uncollectible
Not yet due 19,000* 2%= $380
Up to 120 days past due 5,000*11%=$550
Over 120 days past due 3,000*30%=$900
Estimated balance in allowance for Doubtful Accounts $1,830
Less Current balance in allowance for Doubtful Accounts ($830)
Bad Debt Expense for the year $1,000
($1,830-$830)
Now let prepare the Journal entry:
1a. Dec-31
Dr Allowance for doubtful accounts $780
Accounts receivable (Patty's Bake Shop) Cr $780
(To record Write off accounts receivable)
1b. Dec-31
Dr Bad debt expense $1,000
Cr Allowance for doubtful accounts $1,000
(To record allowance of doubtful account)
2aCalculation to Show how the amounts related Bad Debt Expense would be reported on the income statement and balance sheet for the current year.
BROWN COW DAIRY COMPANY
Income Statement (Partial)
As of December 31
Operating expenses:
Bad debt expense $1,000
2b. Calculation to Show how the amounts related to Accounts Receivable would be reported on the income statement and balance sheet for the current year.
BROWN COW DAIRY COMPANY
Balance Sheet (Partial)
As of December 31
Current assets:
Accounts receivable (Patty's Bake Shop) $27,000
(Less)Allowance for doubtful accounts ($1,830)
Accounts receivable, net of allowance for Doubtful accounts $25,170
Accounts receivable =$ 19,000+$5,000+$3,000 Accounts receivable =$27,000
Allowance for doubtful accounts = $380+$550+$900
Allowance for doubtful accounts = $1,830
Therefore the amounts related to Accounts Receivable and Bad Debt Expense that would be reported on the income statement and balance sheet for the current year will be :
Bad debt expense $1,000
Doubtful accounts $25,170
suppose you find stock a with a positive alpha and stock b with an equal but negative alpha. which of the following investment strategies takes advantage of a profit opportunity according to the capm?
Suppose you find stock a with a positive alpha and stock b with an equal but negative alpha. Buy stock A and short sell stock B.
Which investing tactic is the most successful?Best Investment Methods: Buy and Hold. Investors who choose to "time the market" rather than "time the market" are known as "buy and hold" investors. Buying securities and keeping them for a long time are both possible with this method. Long-term profits are thought to be able to outweigh short-term volatility.
Which investing approach is the most secure?The safest investment options include, for instance, Treasury Inflation-Protected Securities (TIPS), money market accounts, municipal bonds, and certificates of deposit (CDs). Giving money to a bank for a certificate of deposit entails receiving it back with interest after a specified amount of time.
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what are the limitations for using push button interlocking in industry? for example, what type of load can be controlled and what range of horsepowers can push button interlocking be used with?
Push button interlocking has limitations in controlling heavy loads and is typically used for lower horsepower applications.
Push-button interlocking, also known as push-button control, is a control system commonly used in industrial settings. While it is a convenient and straightforward method for controlling machinery and processes, it has limitations in terms of the loads it can effectively handle and the range of horsepower it can accommodate.
Push button interlocking is suitable for controlling lower horsepower applications, such as small motors and machinery with relatively low power requirements. It may not be suitable for heavy-duty machinery or high-power applications due to the limitations of the control system.
For controlling heavy loads or machinery with higher horsepower requirements, other control methods, such as motor starters, motor control centers, or programmable logic controllers (PLCs), are typically employed. These control systems offer more advanced features, higher capacity, and enhanced safety measures to handle the demands of larger and more powerful equipment.
It is crucial to consider the specific requirements, power ratings, and safety considerations of the machinery and loads involved when selecting the appropriate control system in industrial settings.
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one key feature of current consumer technologies is that they
The key feature of current consumer technologies is their emphasis on convenience, portability, user-friendliness, and seamless integration.
One key feature of current consumer technologies is their emphasis on convenience and seamless integration into everyday life. In today's fast-paced and interconnected world, consumers demand technologies that can simplify tasks, enhance productivity, and provide instant access to information and services.
One aspect of convenience is the portability and mobility of consumer technologies. Devices such as smartphones, tablets, and laptops are designed to be compact, lightweight, and easily carried around, enabling users to stay connected and access their digital resources from anywhere at any time. This portability allows consumers to work remotely, communicate on the go, and access a wide range of applications and services on demand.
Another important feature is the user-friendly interface and intuitive design of consumer technologies. Manufacturers strive to create devices and software that are easy to use, even for individuals with limited technical expertise. Intuitive touchscreens, voice commands, and simple navigation systems make it effortless for consumers to interact with their devices and access the desired features or information.
Seamless integration is also a key aspect of modern consumer technologies. The ability to connect and synchronize different devices and platforms enhances convenience and efficiency. For example, cloud storage services enable users to access their files and data from various devices seamlessly. Smart home systems allow for the integration of different devices and appliances, enabling users to control their home environment with ease.
Additionally, consumer technologies often incorporate features like artificial intelligence (AI) and machine learning to personalize experiences and anticipate user needs. AI-powered virtual assistants, for instance, can understand natural language and perform tasks based on user commands, providing personalized recommendations, reminders, and assistance.
In summary, the key feature of current consumer technologies is their emphasis on convenience, achieved through portability, user-friendly interfaces, seamless integration, and personalized experiences. These features aim to simplify tasks, enhance productivity, and seamlessly integrate technology into the fabric of everyday life.
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the u.s market is large but many other countries have what advantage over the us
Explanation:
faster growth?? uhm is this a answer chose.
When calling a support line to request help with a computer problem, it is best to
provide as many details and information as possible.
keep information to a minimum to avoid confusion.
avoid attempting to name or identify the problem.
avoid first attempting simple fixes to the problem
Answer: Provide as many details and information as possible.
Explanation:
So they can identify the problems with your computer
Answer:
1.provide as many details and information as possible.
Explanation:
A significant difference between monopolies and competitive firms is that A. a monopoly's demand curve is the industry's demand curve, while the competitive firm's demand curve is perfectly elastic. B. the competitive firm must drop its price to sell more while the monopolist can keep price constant. C. low entry barriers exist for monopolies, but not for competitive firms. D. competitive firms control market supply, but monopolies do not.
Answer:
A
Explanation:
A perfect competition is characterized by many buyers and sellers of homogenous goods and services. Market prices are set by the forces of demand and supply. There are no barriers to entry or exit of firms into the industry.
In the long run, firms earn zero economic profit. If in the short run firms are earning economic profit, in the long run firms would enter into the industry. This would drive economic profit to zero.
Also, if in the short run, firms are earning economic loss, in the long run, firms would exit the industry until economic profit falls to zero.
A monopoly is when there is only one firm operating in an industry. there are usually high barriers to entry of firms. the demand curve is downward sloping. it sets the price for its goods and services.
An example of a monopoly is a utility company
Because there is only one firm in the monopoly industry, a monopoly's demand curve is the industry's demand curve
The ____ argument against CSR focuses on the consequence of the requirement that business must internalize costs that it formerly passed on to society in the form of dirty air and unsafe products, the costs of which might necessitate raising prices.
The economic argument against CSR (Corporate Social Responsibility) focuses on the consequence of the requirement that businesses must internalize costs that they formerly passed on to society in the form of dirty air and unsafe products. The costs of which might necessitate raising prices.
However, proponents of CSR argue that taking responsibility for these costs is necessary for the long-term sustainability of businesses and society as a whole. This argument suggests that implementing CSR measures could lead to increased costs for businesses, which could then result in higher prices for consumers.
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The Issuance of Common Stock may
be shown on which of the following?
A. Shareholder's Income
B. Operating Cash Flow
C. Balance Sheet
D. Income Statement
The money a firm makes when it first sells its shares to investors on the open market is known as the common stock issuance.
What is The Issuance of Common Stock?
Calculating the proceeds is simple once you know how many shares the corporation is issuing and at what price. To get the total revenues, just multiply the number of shares by the share price. Entry in the journal for the distribution of common shares with a face value. Common shares with par value are journalized by crediting common shares (equity) up to the par value and debiting cash (asset) for the amount received for the shares.
The remaining portion of the entry is then credited to extra paid-in capital (equity). In contrast to shares outstanding, which are calculated as the number of issued shares less any shares held in treasury, issued shares are reported as capital stock, or owners' equity, on a company's balance sheet.
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Keyanna is thinking of marketing consulting as a potential future career. Identify each task associated with consulting as either producing research or consuming research.
1. collect and analyze data, and present the results to clients
2. keep up to date on current product trends
3. look at analyses conducted by other firms, and inform clients of the findings
4.test different marketing strategies to identify the best one
Producing research involves gathering and evaluating data, as well as presenting the findings to clients.
Consuming - One activity related to consuming research is staying current on market trends. This is due to the fact that current research or data on product trends are reviewed and analyzed rather than fresh research being conducted.
Generating - A task included in producing research is testing many marketing techniques to find the most effective one. This is due to the fact that it entails performing fresh research by testing various marketing methods and assessing the outcomes to establish the most effective course of action.
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In a market economy, equilibrium stays constant and never moves.
True or false
Answer:
false
Explanation:
there is always change in equilibrium any time demand or supply changes.
Service and support are more important in traditional commerce than in e-commerce
a. True
b. False
False.
In fact, service and support are equally important, if not more so, in e-commerce compared to traditional commerce. In traditional commerce, customers typically have face-to-face interactions with sales representatives or service providers, allowing for immediate assistance and support. However, in e-commerce, where transactions occur online, the lack of physical presence makes it crucial to provide excellent service and support to compensate for the absence of in-person interactions. In e-commerce, customer service plays a vital role in building trust, resolving issues, and providing a positive user experience. Online retailers often offer various channels of customer support, such as live chat, email, and phone assistance, to address customer inquiries, provide guidance, and ensure customer satisfaction. E-commerce platforms also prioritize reliable shipping, hassle-free returns, and prompt resolution of customer concerns to maintain customer loyalty.
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Focus groups should be comprised of how many people? Three to five people Six to eight people Eight to 12 people 10 to 12 people
Answer:
3-5 people
Explanation:
It's called a focus group for a reason. If there were 8-12, or 10-12 people, the others might not be able to focus. But there are people who need others to focus, so 3-5 would be a perfect number per group.
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During the month of July. Clanton Industries issued a check in the amount of $889 to a supplier on account. The check did not clear the bank during July. In preparing the July 31 bank reconciliation, the company should:
Multiple Choice
Deduct the check amount from the book balance of cash
Add the check amount to the book balance of cash.
Deduct the check amount from the bank balance
Add the check amount to the bank belence
The first option is correct because, during the month of July, Clanton Industries issued a check in the amount of $889 to a supplier on account. The check did not clear the bank during July.
In preparing the July 31 bank reconciliation, the company should deduct the check amount from the book balance of cash. Bank reconciliation is the process of comparing and adjusting the balance of a company's book of accounts with its bank account statement. The primary aim of the bank reconciliation is to find any discrepancies between the two records and to correct them.
The issued check of $889 did not clear the bank account during July. Therefore, in the July 31 bank reconciliation, the company should deduct the check amount of $889 from the book balance of cash. Thus, it will rectify the discrepancy between the bank and book balances of cash. Therefore, the first option Deduct the check amount from the book balance of cash." is correct.
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briefly explain 3 ways in which multinational corporations are developed
Multinational Corporations (MNCs) set up their factories or production units close to markets where they can get desired type of skilled or unskilled labour at low costs along with other factors of production. After ensuring these conditions MNCs set up production units in the following ways :
(a) Jointly with some local companies of the existing country.
(b) Buy the local companies and then expand its production with the help of modern technology.
(c) They place orders for small producers and sell these products under their own brand name to the customers worldwide.
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4.2) Define the term core competency and explain its role in
manufacturing strategy.
A company's distinctive set of abilities, know-how, and skills that distinguish it from rivals is referred to as its "core competency."
Core competency stands for the aggregate knowledge and abilities of a company in carrying out particular tasks or providing value to clients. Core competences can be connected to a variety of components of the organisation, including supply chain management, technology, innovation, and customer service.
Core competences are essential in determining a company's competitive advantage and success when it comes to manufacturing strategy. Following are some ways that core competencies influence manufacturing strategy:
Competitive Differentiation: By providing superior goods, services, or procedures, a corporation can set itself apart from rivals by leveraging its core competencies. The business can differentiate itself thanks to these special qualities.
Prioritise strategic objectives: Core competences assist businesses in integrating their manufacturing strategy with their overarching corporate strategy. Companies can prioritise the areas where they have a competitive advantage and deploy resources efficiently to support those areas by identifying and utilising their core strengths. This emphasis makes sure that manufacturing operations are in line with the long-term goals and objectives of the business.
Cost Efficiency and Effectiveness: In industrial operations, core competences frequently contribute to cost efficiency and effectiveness. Businesses that excel in particular production methods or technologies can streamline their processes, cut waste, boost productivity, and realise economies of scale. Because of this, they are able to offer premium goods at low rates, increasing their ability to compete in the market.
Innovation and Continuous Improvement: In the manufacturing industry, core competencies are directly related to innovation and continuous improvement. Companies that are experts in a particular process or technology can foster innovation by continuously upgrading and improving their skills. This enables them to launch new items, enhance current ones, and keep up with consumer requests and industry changes.
Flexibility and Adaptability: Companies may respond to shifting market conditions and disruptions by using their core capabilities to give them the flexibility and adaptability they need. Companies may quickly change their production procedures, supplier networks, and product offerings to satisfy changing consumer demands or respond to new problems by concentrating on their core competencies.
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When making decisions, managers often must decide between doing what is beneficial for the firm in the short term, and what is beneficial for both the firm and society in the long term. To address this conflict, a firm must
When making decisions, managers are often faced with a conflict between what is beneficial for the firm in the short-term and what is beneficial for both the firm and society in the long-term.
This conflict arises because the actions that benefit the firm in the short-term may not necessarily align with the interests of society as a whole, which can lead to negative consequences for both the company and society in the long-term.
To address this conflict, a firm must adopt a long-term orientation and consider the broader social and environmental impacts of its decisions. This means looking beyond immediate financial gains and recognizing that actions taken today can have far-reaching implications for the company's reputation, customer loyalty, employee morale, and overall sustainability.
Firms that prioritize social responsibility and sustainable business practices are more likely to build strong relationships with stakeholders, including customers, employees, investors, and regulators. They are also better equipped to weather economic downturns and other disruptions, as they have diversified their risk and invested in building resilient supply chains and communities.
Ultimately, the key to addressing the conflict between short-term gains and long-term benefits is a commitment to corporate social responsibility (CSR) and sustainable business practices. By prioritizing the needs of society and the environment alongside those of shareholders, firms can create value for all stakeholders over the long-term, ensuring their continued success and impact.
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TRUE OR FALSE: when you have a credit card or loan, it is better to have higher interest rate
Answer: Lower interest rate are better. Higher interest rate is worse
Explanation:
A lower interest rate is better when borrowing money through credit cards or loans. You will be paying less. High interest rates are only good when you are the lender.