The right technology. Business Process Management (BPM) requires buy-in from a broad cross section of the business, software to map processes that are performed manually, and highly effective change management processes in order to be successful. The correct answer is C.
The first part of successful BPM is buy-in from a broad cross section of the business. Buy-in ensures that all stakeholders are on board with the changes BPM will bring and understand their role in the process. It also ensures that the changes will be accepted and supported.
Software to map processes that are performed manually is necessary to gain a thorough understanding of existing processes. This helps identify and measure key performance indicators, highlight process bottlenecks and areas for improvement, and develop and streamline processes.
Change management processes are essential for successful implementation of BPM. It is important to have a well-defined process for change management, including training, communication, and monitoring. The right technology is not essential for successful BPM, although it can help to automate and streamline processes.
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allison thinks she has more power than the other party in a negotiation. as a result, she will probably use the blank approach when she negotiates.
Allison thinks she has more power than the other party in a negotiation. As a result, she will probably use the distributive approach when she negotiates.
The distributive approach is a bargaining strategy in which the goal is to get as much of the available resources as possible. The resources are considered limited in this approach, and both parties compete to get their fair share. A distributive approach works well when there is a single issue to be resolved, and both parties' goals are diametrically opposed.
The distributive approach has several advantages, including saving time and reducing the need for information-sharing between parties. It also helps to create a clear understanding of the problem and reduces the likelihood of misunderstandings. On the other hand, the distributive approach may have some drawbacks, such as the tendency for the parties to become too competitive and create a win-lose situation. In the end, one party comes out ahead, while the other is at a loss.
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Aa financial company that advertises on television will pay you $58,000 now for annual payments of $9,000 that you are expected to receive for a legal settlement over the next 10 years. use exhibit 1-d.a. What is the present value of the annual payments if you estimate the time value of money at 10 percent? (Round your PVA factor to 3 decimal places and final answer to the nearest whole dollar.)b. Should you accept this offer?
A financial company that advertises on television will pay you $58,000 now for annual payments of $9,000 that you are expected to receive for a legal settlement over the next 10 years.
What is the present value of the annual payments if you estimate the time value of money at 10 percent? If we estimate the time value of money at 10%, the present value of the annuity can be calculated as shown below: Present value of the annuity (PVA) = A x [1 - (1 / (1 + i)n)] / i
Where A is the annual payments, i is the interest rate and n is the number of years. Substitute the given values: PVA = $9,000 x [1 - (1 / (1 + 0.10)10)] / 0.10PVA = $9,000 x [1 - (1 / 2.594)] / 0.10PVA = $9,000 x [1 - 0.385] / 0.10PVA = $9,000 x 6.493PVA = $58,437 (rounded to the nearest whole dollar)
Hence, the present value of the annual payments is $58,437 (rounded to the nearest whole dollar). Should you accept this offer? Yes, you should accept the offer since the present value of the annuity is greater than the amount you are being offered ($58,437 > $58,000).
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. a casualty insurance company has 1000 policyholders, each of whom will independently present a claim in the next month with probability .05. assuming that the amounts of the claims made are independent exponential random variables with mean $800, use simulation to estimate the probability that the sum of these claims exceeds $50,000.
If we ran 1000 simulations and the sum of the claims exceeded $50,000 200 times, then the probability of this outcome would be 200/1000 = 0.2
To answer this, we can use a Monte Carlo simulation to generate data and determine the probability of this outcome.
First, we must assume that the amounts of the claims made by each policyholder are independent and exponentially distributed with mean $800. We can simulate this by randomly generating 1000 numbers from the exponential distribution with a mean of 800, and summing them together. This can be done using a program such as R or MATLAB.
Once we have generated the data, we can count how many times the sum of the claims exceeds $50,000 and divide this number by the total number of simulations we ran. This will give us the probability that the sum of the claims exceeds $50,000.
For example, if we ran 1000 simulations and the sum of the claims exceeded $50,000 200 times, then the probability of this outcome would be 200/1000 = 0.2.
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Refer to the following selected financial information from Texas Electronics Compute the company's working capital for Year 2. Cash Short-term investments Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets Accounts payable Net sales Cost of goods sold Year 2 Year 1 $ 37,500 $ 36,850 90,000 90,000 85,500 86,250 121,000 117,000 12,100 13,500 388,000 392,000 113,400 111,750 711,000 706,000 390,090 385,500. a) $232,700. b) $220,600. c) $147,200. d)$111,700. e) $142,700.
The working capital for Year 2 of Texas Electronics is $232,700. Working capital is the difference between a company's current assets and liabilities.
The working capital is a difference between the company's current assets and liabilities. Company assets in this case include cash, bank deposits, other quickly payable assets, and potential income.
For Year 2 of Texas Electronics can be calculated by subtracting current liabilities (Accounts Payable and Cost of Goods Sold) from current assets (Cash, Short-term Investments, Accounts Receivable, net, Merchandise Inventory, and Prepaid Expenses):
Working Capital = Current Assets - Current Liabilities
Working Capital = $711,000 - ($113,400 + $390,090) = $232,700
Therefore, the working capital for Year 2 of Texas Electronics is $232,700.
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In order for a good to be classified as ______________ , when one person uses the good, others are also able to use it.
A. nonrivalrous
B. unrivalrous
C. unexcludable
D. nonexcludable
In order for a good to be classified as nonrivalrous when one person uses the good, others are also able to use it. Option a)
Nonrivalrous goods are those that can be consumed or used by multiple people without diminishing the availability or quality of the good for others. Examples of nonrivalrous goods include public parks, national defense, and open-source software.
Option A is correct, as nonrivalrous is the term used to describe goods that are not diminished by use and can be shared among many people.
Option B is not a commonly used term to describe goods, and it is not synonymous with nonrivalrous.
Option C refers to the characteristic of a good that makes it difficult or impossible to prevent people from using it.
Option D is not the correct term to describe nonrivalrous goods, although it is related to option C as it refers to the difficulty of excluding people from using a good.
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after a year during which interest is compounded quarterly, an investment of $800 is worth $851. what is the annual rate of interest? what is the effective annual yield?
The annual rate of interest of the investment is 25.5%. The effective annual yield on this investment is 26.67%.
To find the annual rate of interest, we can use the formula for compound interest:
A = P(1 + r/n)^(nt)
where A is the ending amount, P is the principal (starting amount), r is the annual interest rate, n is the number of times the interest is compounded per year, and t is the number of years.
In this case, we have P = $800, A = $851, n = 4 (since interest is compounded quarterly), and t = 1 (since we're looking at the growth over one year). Solving for r:
$851 = $800(1 + r/4)⁴
1.06375 = 1 + r/4
r/4 = 0.06375
r = 0.255 or 25.5%
So the annual rate of interest is 25.5%.
To find the effective annual yield, we can use the formula:
Effective Annual Yield = (1 + r/n)ⁿ - 1
where r is the annual interest rate and n is the number of times interest is compounded per year. In this case, we have r = 0.255 and n = 4, so:
Effective Annual Yield = (1 + 0.255/4)⁴ - 1
Effective Annual Yield = 0.2667 or 26.67%
So the effective annual yield on this investment = 26.67%.
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Scott, Mark, and Joe want to buy into a restaurant franchise. Joe is an accountant. Mark has previous restaurant experience as a server and manager. Scott is an attorney. In order to open this franchise, they must commit to opening 3-5 stores and are required to have $10 million in liquid assets (Cash is a highly liquid asset followed by the banking accounts, checkable account, short-term promissory notes, treasury bills and other government bonds. ) They currently do not have the required liquid assets. Which business organization will be the best for this situation and how will they solve their money problems?
Given their diverse backgrounds and lack of sufficient liquid assets, a limited liability partnership (LLP) would be the most suitable business organization for Scott, Mark, and Joe.
This type of partnership allows for individual liability protection while still allowing for shared profits and management responsibilities. To address their money problem, the group can explore various options. One option would be to seek out investors who are willing to contribute the necessary funds in exchange for a percentage of ownership and profits.
Another option would be to secure a loan from a financial institution or private lender. In order to increase their chances of approval, they can develop a comprehensive business plan that outlines their strategies for success and projected financial performance.
Additionally, Scott, Mark, and Joe could also consider alternative means of financing such as crowdfunding or seeking out grants or subsidies from government agencies or non-profit organizations. It may also be beneficial for them to seek guidance and advice from a financial advisor or business consultant to help them make informed decisions and develop a strong financial plan for their franchise venture.
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Met Below is a set of projects aimed at cleaning up a city's recreational areas. Determine whether the city should undertake the cleanup effort. Assume the city hasenoughmoney in its budget to undertake all projects. Project North Park Upper River Beach South Shore Green Creek Marginal Cost $21,000 4,000 18,000 1.100 Marginal Benefit $19,000 9,000 26,000 Clean Up? Click to select) v Click to select) Click to select) Click to select) V 0.12 polnts Print
As per the given scenario, we can conclude the following: Project North Park Upper River Beach South Shore Green Creek Marginal Cost $21,000 4,000 18,000 1.100 Marginal Benefit $19,000 9,000 26,000. The city should not undertake the clean-up efforts.
Let's discuss the above table to know why the city should not undertake the cleanup effort:
Project: North Park
Marginal Cost: $21,000
Marginal Benefit: $19,000
Here, the marginal cost of cleaning North Park is more than its marginal benefit. So, the city should not undertake the cleaning of North Park.
Project: Upper River
Marginal Cost: $4,000
Marginal Benefit: $9,000
Here, the marginal benefit of cleaning the Upper River is more than its marginal cost. So, the city should undertake the cleaning of the Upper River.
Project: Beach South Shore
Marginal Cost: $18,000
Marginal Benefit: $26,000
Here, the marginal benefit of cleaning Beach South Shore is more than its marginal cost. So, the city should undertake the cleaning of Beach South Shore.
Project: Green Creek
Marginal Cost: $1,100
Marginal Benefit: There is no information given about marginal benefit. So, we cannot decide whether to undertake the cleaning of Green Creek or not.
So, the city should undertake the cleaning of the Upper River and Beach South Shore only. Hence, the correct answer is not to undertake the cleanup effort.
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summarize the internal control procedure of maintaining adequate records by selecting the correct answers below. (check all that apply.) multiple select question. a. keeping detailed records makes it unlikely that assets are lost or stolen without detection. b. reliable records are a source of information that managers use to monitor activities. c. bonding employees reduces the risk of loss. d. dividing responsibility for related transactions reduces the occurrence of recordkeeping errors.
The internal control procedure of maintaining adequate records involves several steps that businesses follow. The objective is to ensure that the financial statements are free from errors and frauds.
Some of the steps involved in this process include keeping detailed records, reliable records, bonding employees, and dividing responsibility for related transactions.
Detailed records : Detailed records refer to financial records that provide a comprehensive view of a business's operations. Keeping detailed records makes it unlikely that assets are lost or stolen without detection. For instance, a business can maintain detailed records of inventory items that include the item's purchase date, cost, and sale price. Reliable records: Reliable records are a source of information that managers use to monitor activities. These records ensure that transactions are appropriately recorded and that financial statements accurately reflect a business's operations.
Bonding employees: Bonding employees reduces the risk of loss. Bonding is a process where a business purchases an insurance policy that compensates for the loss of assets due to employee theft. It is an effective way of protecting a business's assets from internal theft.
Dividing responsibility for related transactions: Dividing responsibility for related transactions reduces the occurrence of recordkeeping errors. It involves assigning different employees to perform different functions to ensure that no one person controls a transaction from start to finish. This system allows for multiple people to be involved in a transaction and creates a system of checks and balances. Thus, ensuring that errors are detected and corrected before financial statements are prepared.
In conclusion, the internal control procedure of maintaining adequate records involves keeping detailed records, reliable records, bonding employees, and dividing responsibility for related transactions. These measures are crucial in ensuring that financial statements are free from errors and frauds.
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beckman enterprises purchased a depreciable asset on october 1, year 1 at a cost of $104,000. the asset is expected to have a salvage value of $15,100 at the end of its five-year useful life. if the asset is depreciated on the double-declining-balance method, the asset's book value on december 31, year 2 will be: multiple choice $93,600 $56,160 $19,224 $22,464 $28,836
The asset's book value on the day of december 31, year 2 will be around $56,160. It can be calculated through double-declining balance method. The correct option is B.
What is the double-declining balance method?
A double-declining-balance method is a form of accelerated depreciation that multiplies the straight-line depreciation rate by 2. This method states that the depreciation rate for the asset is calculated by taking 2 times the straight-line rate.
In this case, Beckman Enterprises purchased a depreciable asset on October 1, Year 1 at a cost of [tex]$104,000[/tex] with an expected salvage value of [tex]$15,100[/tex] at the end of its five-year useful life.
The straight-line rate would be calculated by subtracting the salvage value from the original cost and dividing it by the life of the asset (5 years).
Straight-line rate = [tex]($104,000 - $15,100) / 5 = $18,080[/tex]/year
Double-declining-balance rate = 2 x (Straight-line rate) = [tex]$36,160[/tex]/year
Therefore, the asset's book value on December 31, Year 2 will be $56,160.
Therefore, the correct option is B.
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a firm's stock is currently selling for $25 per share, the annual dividend is $1.00, and expected earnings are $5.00 per share. what is the firm's dividend payout ratio?
The annual dividend is $1.00, and expected earnings are $5.00 per share. Dividend payout ratio is defined as the fraction of earnings that a corporation pays to its shareholders in the form of dividends.
The formula for calculating the dividend payout ratio is as follows:
Dividend Payout Ratio = (Dividend per share / Earnings per share) x 100
Given that the firm's stock is currently selling for $25 per share, the annual dividend is $1.00, and expected earnings are $5.00 per share.
The dividend payout ratio = (Dividend per share / Earnings per share) x 100
DPR = (1.00/5.00) × 100
DPR = 0.2 × 100
DPR = 20%
Therefore, the firm's dividend payout ratio is 20%. It shows the percentage of earnings that a company pays out to shareholders in the form of dividends. In this case, the dividend payout ratio of the firm is 20%, which means that it pays out 20% of its earnings in the form of dividends.
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Nichols Enterprises has an investment in 34,500 bonds of Elliott Electronics that Nichols accounts for as a security available for sale. Elliott bonds are publicly traded, and The Wall Street Journal quotes a price for those bonds of $14 per bond, but Nichols believes the market has not appreciated the full value of the Elliott bonds and that a more accurate price is $22 per bond. Nichols should carry the Elliott investment on its balance sheet at:
Multiple Choice
A. $759,000.
B. Either $483,000 or $759,000, as either are defensible valuations. C. $483,000. D. $621,000, the midpoint of Nichols' range of reasonably likely valuations of Elliott.
So, the answer is option A, $759,000.
Nichols Enterprises has an investment in 34,500 bonds of Elliott Electronics that Nichols accounts for as a security available for sale. Elliott bonds are publicly traded, and The Wall Street Journal quotes a price for those bonds of $14 per bond, but Nichols believes the market has not appreciated the full value of the Elliott bonds and that a more accurate price is $22 per bond.
Nichols should carry the Elliott investment on its balance sheet at $759,000.Why is the answer $759,000?The available-for-sale security is one of three accounting categories used to classify investments in securities.
These securities are investments that a business has obtained with the intention of holding them for more than one year. They are usually classified as long-term investments. As a result, the Elliott investment should be classified as a long-term investment on the balance sheet.
As a result, it should be recognized at Nichols Enterprises' "fair value."According to the problem, Nichols believes that the market has not completely understood the Elliott bonds' true worth and that the bond is undervalued.
As a result, it has to be accounted for at the "fair value," which Nichols believes is $22 per bond. As a result, Nichols should carry the Elliott investment on its balance sheet at $759,000, since it has 34,500 bonds.
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ivanhoe company manufactures and sells three products. Relevant per unit data concerning each product are given below.ProductA B CSelling price $9 $12 $15Variable costs and expenses $3 $10 $12Machine hours to produce 2 1 2Required:a. Compute the contribution margin per unit of limited resource (machine hours) for each product.b. Assuming 3,000 additional machine hours are available, which product should be manufactured?c. What is the total contribution margin if the hours are (1) divided equally among the products and (2) if they are allocated entirely to the product identified above.
Because that is the revenue that is regarded as the future cost, the cost that is offered to management for decision-making on the renewal of equipment should indeed be kept to a minimum.
What are decisions about replacing equipment?The choice to replace manufacturing machinery as it approaches the finale of its usefulness is one that must consider both cost and performance. The selection and purchase of the finest equipment for the imposed capital expenditure restrictions involves economic considerations.
How much would it cost to replace the equipment?Annual premium coverage only pays the depreciated value, whereas replacement cost coverage often pays the cost to make repairs its thing up to the value listed. The market value of an item, which depends on its age and usage.
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Economic stress can be ______ or ______. Normative, situational. Expected milestones such as marriage or the birth of a new baby are considered ______ ..
Economic stress can be normative or situational. Expected milestones such as marriage or the birth of a new baby are considered normative.
Economic stress is a condition in which a person or family struggles financially to meet their basic requirements or to maintain their living standards. Unemployment, reduced salaries, and wages, high cost of living, and increased debt are some of the causes of financial stress.
Economic stress can be either normative or situational. Expected changes or milestones in a person's life, such as marriage or the birth of a child, are considered normative. Situational economic stress is caused by external factors, such as economic recession or natural disasters.
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Businesses typically have many systems, some internally developed, some purchased, and others acquired. Businesses want these systems to communicate with one another and provide users with easier access to data. There are three systems configurations that consolidate and coordinate data across multiple locations. These three include centralized systems, decentralized systems, and distributed systems. Each configuration has advantages and disadvantages.
Which of the following is a disadvantage of decentralized systems?
-It is the most expensive option as it involves higher maintenance costs.
-Since each location has its own system, there is an increase in security risk as more systems must be protected and monitored.
- The risk of business disruption is greater because any disruption impacts the entire system.
-It is more difficult to implement as it is the most complex of the three.
The disadvantage of decentralized systems is: Since each location has its own system, there is an increase in security risk as more systems must be protected and monitored.
A decentralized system is a computer network that enables the sharing of information across a network of computers. In such a network, every node or computer is responsible for its own processing and data storage.
It enables the sharing of data between various parties in a manner that does not require a central authority. A decentralized system provides several benefits such as increased efficiency, reduced costs, and increased innovation.
However, there are also some disadvantages to using a decentralized system. One disadvantage is that there is an increased risk of security breaches since more systems must be protected and monitored.
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Assunve that barber shops operate in perfectly competh product and factor markets. Which of the follow g will happen to working barbers if the price of haireus decreases? (A) The marginal pre uct of the last barber hired (B) The marginal product ,the last barber hired (C) The marginal revenue produc curve will shift (D) The marginal revenue product cur will shift (E) There will be a movement upward along will not change. will decrease. to the right. to the left. the marginal revenue curve.
The answer is option C. The marginal revenue product (MRP) curve represents the additional revenue generated by each additional unit of input used, all other things being equal.
Assuming that barber shops operate in perfectly competitive product and factor markets, if the price of haircuts decreases, the marginal revenue product curve will shift. It indicates how much the firm should pay for the input in order to maximize profits. The marginal product of labor (MPL) is the increase in output that results from an additional unit of labor. When MPL > W/P, the firm hires more workers.
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As a ______ I will provide estimates for each user story before Sprint Planning so that the team can jointly estimate and agree upon the size of each user story. Select one. A. Scrum Master B. Team Member (developer/tester) C. Product Owner
As a team Member (developer/tester), I will provide estimates for each user story before Sprint Planning so that the team can jointly estimate and agree upon the size of each user story. Option B is the correct choice.
In agile software development using Scrum, the task of providing estimates for each user story before Sprint Planning falls under the responsibility of the Team Member (developer/tester). User story estimation is a collaborative effort among team members to estimate the effort needed to implement a user story.
The goal of estimation is to enable the team to plan their work during the upcoming Sprint. The estimates should be realistic and based on the collective expertise of the team members. This allows the team to commit to a reasonable amount of work for the upcoming Sprint and ultimately deliver a high-quality product.
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the law of one price is best described as: the true fundamental value of an asset. earning a risk-free profit without committing any capital. two assets that will produce the same cash flows in the future must sell for equivalent prices.
The law of one price is best described as: two assets that will produce the same cash flows in the future must sell for equivalent prices.
The law of one price is an economic law that states that two assets that will produce the same cash flows in the future must sell for equivalent prices. The law of one price is an important economic theory that is used to explain the prices of goods and services in the market.The true fundamental value of an asset is a term used to describe the value of an asset based on its underlying fundamentals, such as its revenue, earnings, and assets.
Earning a risk-free profit without committing any capital is not an accurate description of the law of one price, as the law refers to the prices of assets that produce the same cash flows in the future, not to profits or capital investments.
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Determine which one of the three portfolios dominates another. Name the dominated portfolio and the portfolio that dominates it. Portfolio Green has an expected return of 23 percent and risk of 30 percent. The expected return and risk of portfolio Red are 22 percent and 24 percent, and for the Orange portfolio are 22 percent and 23 percent. Portfolio Red dominates portfolio Orange. Portfolio Orange dominates portfolio Red. Portfolio Green dominates portfolio Red. Portfolio Green dominates portfolio Orange.
The dominated portfolio is portfolio red and the portfolio that dominates it is portfolio orange. Portfolio orange dominates portfolio red. Hence option b is the right choice.
A dominated portfolio is defined as a portfolio when there is at least one portfolio that provides a higher return with a lower standard deviation. The expected return is defined as the average return that a portfolio generates over a specific time period.
Portfolio Green has an expected return of 23 percent and a risk of 30 percent. The expected return and risk of portfolio Red are 22 percent and 24 percent, and for Orange, the portfolio is 22 percent and 23 percent
A portfolio is dominated if it can be replaced with another portfolio that has a higher expected return and lower risk. Portfolio green has higher expected risk and return when compared with both portfolios red and orange. But when a comparison is made between portfolio red and orange, the risk of portfolio orange is less than portfolio red with the same returns. Hence portfolio orange dominates portfolio red.
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Which of the following is a job evaluation method that can group a wide range of work together in one system but leave too much room for manipulation?
A) Ranking
B) Point
C) Scaling
D) Classification
Classification is a job evaluation method that can group a wide range of work in one system but leave too much room for manipulation. Option D is the correct answer.
Classification is a job analysis method that groups a wide range of work in one system but leaves too much room for manipulation. In the job analysis process, the goal of classification is to group positions into different job classes, each of which has similar responsibilities and requirements, for ease of analysis and review.
Therefore, Option D is a job evaluation method that can group a wide range of work in one system but leave too much room for manipulation.
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The _______ approach involves collecting performance information not just from the supervisor but from anyone else who might have firsthand knowledge about the employee's performance behaviors.
The 360-degree feedback approach involves collecting performance information not just from the supervisor but from anyone else who might have firsthand knowledge about the employee's performance behaviors.
What is 360-degree feedback?A 360-degree feedback program, also known as a multi-rater is a feedback approach that collects performance information not just from the supervisor but from anyone else who might have first hand knowledge about the employee's performance behaviors.
The feedback is given from all angles by using a variety of sources that an employee can trust, including peers, subordinates, and supervisors. The feedback is focused on the skills and behaviors that are critical to the company's success.
The employees are often given a written report on their performance, and they are also provided with feedback and suggestions for improvement.
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With reference to the Big Five Model, which of the following is a difference between highly agreeable and less agreeable people?
A) Highly agreeable people tend to do better in interpersonally oriented jobs than less agreeable people.
B) Highly agreeable people are less compliant and less rule abiding than less agreeable people.
C) Highly agreeable people tend to be less satisfied in their jobs than less agreeable people.
D) Highly agreeable people engage in less organization citizenship behavior than less agreeable people.
E) Highly agreeable people have more tendency to engage in organizational deviance than less agreeable people.
According to the Big Five Model, the difference between highly agreeable and less agreeable people is that highly agreeable people tend to do better in interpersonally oriented jobs than less agreeable people. Therefore, option A is correct.
The Big Five model refers to personality traits that help distinguish individuals based on their personality characteristics. The five major personality dimensions in the Big Five Model are openness, conscientiousness, extraversion, agreeableness, and neuroticism.
Highly agreeable people tend to do better in interpersonally oriented jobs than less agreeable people is the difference between highly agreeable and less agreeable people with reference to the Big Five Model.Highly agreeable people are usually compassionate, cooperative, and affectionate. They are typically sympathetic and friendly toward others. They are agreeable and strive to build interpersonal relationships. In general, these individuals are less likely to cause conflict and are less aggressive.
Less agreeable people, on the other hand, may be hostile, confrontational, and uncooperative. They are not as concerned with interpersonal relationships and are more self-centered. They are not as collaborative as agreeable individuals and may cause conflict with others.Thus, it is clear that highly agreeable people tend to do better in interpersonally oriented jobs than less agreeable people. This is because they are better at building and maintaining relationships with others, which is crucial in interpersonal professions such as customer service or sales.
Hence, option A is correct.
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Oceanic Pacific fleet has just decided to use a pole-and-line method of fishing instead of gill netting to catch tuna. The latter method involves the use of miles of nets strung out across the ocean and therefore entraps other sea creatures besides tuna (e.g., porpoises, sea turtles). Concern for endangered species was one reason for this decision, but perhaps more important was the fact that the major tuna canneries in the United States will no longer accept tuna caught by gill netting. Oceanic Pacific decided to conduct a series of experiments to determine the amount of tuna that could be caught with different crew sizes. The results of these experiments follow.
Number of Fishermen Daily Tuna Catch (lb)
0 0
1 50
2 110
3 300
4 450
5 590
6 665
7 700
8 725
9 710
Suppose the market price of tuna is $3.50/pound. How many fishermen should the company use if the daily wage rate is $100?
The company should use four fishermen as this is where the profit is the highest. Therefore, it can earn a profit of $200 per day by using four fishermen.
Pole-and-line fishing is a method of catching fish where a fishing line is attached to a long, flexible pole.
Fishermen use their hands to bait the hook and cast the line into the ocean from the deck of the boat.
Tuna is a species of fish that is often caught using this technique.
The daily catch of tuna with respect to the number of fishermen is given in the following table:
Number of Fishermen Daily Tuna Catch (lb)0 01 502 1103 3004 4505 5906 6657 7008 7259 710
The profit is calculated as follows:
Profit = Revenue - Cost of production
We can calculate the revenue by multiplying the daily catch with the market price of tuna: $3.50 x Daily Tuna CatchThe cost of production will be the total wage paid to the fishermen (daily wage rate * the number of fishermen):
$100 x Number of Fishermen
So,Profit = $3.50 x Daily Tuna Catch - $100 x Number of Fishermen
Now, we need to find out the profit for different numbers of fishermen:
Number of Fishermen Daily Tuna Catch (lb) Profit0 0 -$1001 50 -$50.002 110 $40.003 300 $100.004 450 $200.005 590 $270.006 665 $190.007 700 $100.008 725 $75.009 710 -$190.00
The company should use four fishermen as this is where the profit is the highest. Therefore, it can earn a profit of $200 per day by using four fishermen.
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When market forces lead to efficient production, each producer is and the product is produced A)alternating production; at minimum cost B)maximizing production; at maximum marginal cost C)coordinating with others; at a cost equal to price D)acting in self-interest: at the lowest possible marginal cost
When market forces lead to efficient production, each producer is maximizing production; at maximum marginal cost, and the product is produced. The correct option is (B).
Explanation
In a competitive market, a company must strive to produce its goods and services as efficiently as possible in order to remain profitable. Production efficiency is a measurement of how efficiently a company is able to produce its goods and services, typically calculated by comparing the amount of resources used during production to the amount of output produced. When market forces lead to efficient production, each producer is maximizing production; at maximum marginal cost, and the product is produced efficiently. Market forces, on the other hand, drive production and consumption decisions in a competitive market. In a market where firms are competing with one another, the market price serves as a signal to producers to increase or decrease output, as well as a signal to consumers about how much of a good they should purchase. As a result, in a competitive market, price is used as a signaling mechanism to coordinate production and consumption decisions.
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the slope of the total cost curve is the slope of the total cost curve is total variable cost. total fixed cost. marginal cost. average fixed cost. average variable cost.
The slope of the total cost curve is the (D) marginal cost.
The slope of the total cost curve represents the change in total cost that results from a one-unit increase in output. This is equivalent to the definition of marginal cost, which is the additional cost incurred from producing one more unit of output. In other words, the slope of the total cost curve is the rate at which total cost is changing with respect to changes in output.
Therefore, the correct answer is D: marginal cost, and it is a crucial concept for determining the optimal level of production that maximizes profits in a firm.
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management desires an ending finished goods inventory each quarter of 20% of the next quarter's sales volume. each unit requires 3 kilograms of materials at a cost of $5 per kilogram. management desires an ending raw materials inventory each quarter of 10% of the next quarter's production needs. what is the budgeted production (in units) in q2?
A unit requires 3 kilograms of materials, which costs $5 per kilogram. Management also desires an ending raw materials inventory every quarter that is 10% of the next quarter's production needs. Management has a goal of achieving an ending finished goods inventory every quarter that is 20% of the next quarter's sales volume.
In Q2, what is the budgeted production in units?
Given data:Desired ending finished goods inventory per quarter = 20% of the next quarter's sales volume Desired ending raw materials inventory per quarter = 10% of the next quarter's production needs Cost of each unit of raw material = $5. Quantity of raw materials required per unit = 3 kilograms. Solution:Let the budgeted production in units be x. Then:Materials required per unit = 3 kilograms Cost of 1 kilogram of raw material = $5. So, the cost of raw materials required per unit = $5 × 3 = $15. Total cost of raw materials required for x units = $15x. Desired ending raw materials inventory per quarter = 10% of the next quarter's production needs Desired ending raw materials inventory in Q2 will be 10% of the production needs of Q3.In other words, desired ending raw materials inventory in Q2 = 10% of (production needs in Q3) = 0.1Q3. Production needs in Q3 will be x + desired ending finished goods inventory in Q2 (as this will be sold in Q3).Therefore, desired ending raw materials inventory in Q2 = 0.1 (x + 0.2Q3)But, Q3 is unknown.Now, we know that materials required for production = quantity of production × materials required per unit Desired ending finished goods inventory per quarter = 20% of the next quarter's sales volume Desired ending finished goods inventory in Q2 will be 20% of the sales volume in Q3.So, desired ending finished goods inventory in Q2 = 0.2Q3 In Q2, the following units are produced:x units will be sold in Q3So, the units in the finished goods inventory at the end of Q3 = 0.2Q3. The total units will be:x + 0.2Q3 = 0.2Q3 + xThe production needs for Q3 will be:x + 0.2Q3 - units sold in Q3 = desired ending finished goods inventory for Q3 (20% of Q4)Therefore,x + 0.2Q3 - x = 0.2Q30.2Q3 = x. Production needs in Q3 = 0.2Q3 + x.Therefore,desired ending raw materials inventory in Q2 = 0.1 (x + 0.2Q3) = 0.1 (0.2Q3 + x + 0.2Q3) = 0.04Q3 + 0.04x. Total cost of raw materials required for x units = $15x. Therefore, the total cost of raw materials required for Q2 will be $15x. Total cost of raw materials desired for ending inventory in Q2 will be the total cost of raw materials required for the production of 0.04Q3 units and 0.2Q3 units (which will be sold in Q3) = $15(0.04Q3 + 0.2Q3) = $3Q3. So, the total cost of raw materials required in Q2 will be:$15x + $3Q3. But, we know that production needs in Q3 = 0.2Q3 + x. Therefore, $15x + $3Q3 = $15x + $3(0.2Q3 + x) = $15x + $0.6Q3 + $3x = $18x + $0.6Q3. Now, budgeted production in units in Q2 = x = 0.6Q3/15 = Q3/25. Therefore, the budgeted production in Q2 is Q3/25 units.
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Post the differences between the cash count and the cash register tape to the Cash Short and Over T account. Assume a change fund of $100. Date Cash Register Tape Cash Count March 3 $1,495.89 $1,601.89 4 1,878.55 1,986.55 5 741.76 843.76 6 1,646.62 1,744.62 7 1,714.13 1,814.13 When required, enter amounts in dollars and cents.
Cash Short and Over 1. What is the amount of cash sales for the week? 2. What is the balance in the cash short and over account?
3. Does the balance in the cash short and over account represent a shortage or overage? 4. How much cash was deposited?
Total cash sales for the week were $7,477,952. The total balance in the cash short and over account is -$1,014,003.
The amount of cash sales for the week can be calculated by adding up the amounts on the cash register tape for each day. This would be: $1,495.89 + $1,878.55 + $741.76 + $1,646.62 + $1,714.13 = $7,477.952.
To find the balance in the cash short and over account, you need to first add up the cash count and subtract it from the cash register tape for each day. Then, you need to subtract the change fund from this total. This would look like:
Day 1: $1,495.89 - $1,601.89 - $100 = -$206.00Day 2: $1,878.55 - $1,986.55 - $100 = -$208.00Day 3: $741.76 - $843.76 - $100 = -$202.00Day 4: $1,646.62 - $1,744.62 - $100 = -$198.00Day 5: $1,714.13 - $1,814.13 - $100 = -$200.00.The total balance in the cash short and over account is therefore: -$206.00 - $208.00 - $202.00 - $198.00 - $200.00 = -$1,014.003.
The balance in the cash short and over account represents a shortage because it is negative.
To find the amount of cash that was deposited, you need to add up the cash count for each day and subtract the change fund. This would be: $1,601.89 + $1,986.55 + $843.76 + $1,744.62 + $1,814.13 - $100 = $7,791.85. Therefore, the amount of cash that was deposited is $7,791.85.
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Countries with a high uncertainty avoidance culture (e.g., Japan, Korea, and Portugal) are likely to have compensation systems with which of the following characteristics?
A. High level of variable/contingent compensation
B. Bonuses/pay at risk depending on performance
C. Highly structured, lock-step compensation plans
D. Rewards given for individual efforts
The compensation systems in countries with high uncertainty avoidance culture, such as Japan, Korea, and Portugal, are likely to have "highly structured, lock-step compensation plans". Option C is correct.
High uncertainty avoidance cultures are characterized by a preference for rules, regulations, and structure, and a low tolerance for ambiguity and uncertainty. This preference for structure and predictability is likely to be reflected in the compensation systems of these cultures.
Highly structured, lock-step compensation plans provide a clear and predictable path for employees' salary progression based on seniority, education, and experience, rather than individual performance or results.
This system ensures that compensation is perceived as fair and equitable, and it reduces the uncertainty associated with variable or contingent compensation plans that are based on performance or results. Therefore, option C is the most appropriate answer.
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44. Stockholders of ComfortAir Corporation, an air conditioner and furnace manufacturer, are concerned that the company's executives may take on greater risks than stockholders desire. This example illustrates. a. moral hazard and market risk. b. moral hazard and firm-specific risk. c. adverse selection and market risk. d. adverse selection and firm-specific risk.
The example illustrates "moral hazard and firm-specific risk", as executives may take on riskier actions that benefit themselves at the expense of the company's shareholders, leading to firm-specific risks. Thus, B is correct.
Moral hazard occurs when one party takes risks knowing that another party will bear the costs of those risks. In this case, executives may engage in riskier activities that benefit themselves at the expense of shareholders, such as taking on more debt or pursuing risky investments.
This leads to firm-specific risks, which are risks that affect only the company and its shareholders, such as bankruptcy or a decline in stock value. As such, ComfortAir Corporation's stockholders are concerned that the executives' actions may put the company at risk and harm their investments, highlighting the presence of moral hazard and firm-specific risk.
Therefore, Option B holds true.
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a call and a put option on a stock trading at $57 both have an exercise price of $50. which statements are correct? check all that apply: the call is in the money. the call is out of the money. the put is in the money. the put is out of the money. submit
The call is in the money and the put is out of the money.
The exercise price of an option is the price at which the option can be exercised. Since the stock trading at $57 is higher than the exercise price of $50, the call is in the money and the put is out of the money.
An option gives the buyer the right to buy or sell an underlying asset at an agreed-upon price, known as the exercise price. When the market price of the underlying asset is higher than the exercise price, the call option is said to be in the money, and the put option is said to be out of the money.
In this case, the stock is trading at $57, which is higher than the exercise price of $50. Therefore, the call is in the money and the put is out of the money.
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