When a goal is not met, a manager should assume that employees were not performing to their utmost potential is a false statement.
The management of a corporation sets organizational goals as strategic objectives to describe expected results and direct employees' efforts.
Employees are prone to making blunders when their expectations are unclear. Here, communication and clarity are crucial.
Employees won't ask for assistance or clarification and will instead try to assume what management and the business expect them to do if duties and expectations are unclear and open and encouraged lines of communication.
Employees cannot read minds, so before employing someone, make sure you have a clear understanding of both the position they will play in the organization as well as how management will assess their performance and value to the business.
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What jobs should require personality tests prior to hiring a candidate?
The first thing you need to understand is that personality test results alone cannot be used to hire employees. First, candidates must be assessed for cognitive ability.
Cognitive ability alone predicts more than 60% of the variation in job performance. Of all personality traits, none predict performance variability greater than 5%. Use the validity studies conducted on personality tests as a guide. Before deciding which roles require character assessment, determine which roles may suffer significantly when hiring someone with character flaws. Personality tests are very useful when used properly.
Personality tests are very dangerous in recruitment as almost all are of some degree of dubious validity and can lead to lawsuits and discrimination complaints. However, we assume that there are methods for assessing personality suitability for different types of jobs and that tests, combinations of tests, etc., can be developed to assess personality in combination with structured interviews and other assessment tools. increase.
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Low P/E stocks are generally associated with a. mature companies. b. cyclical companies. c. young fast-growing companies. d. defensive companies.
Low P/E stocks are generally associated with mature companies, so a) is the correct alternative.
What Is a Price-to-Earning (P/E) Ratio?The P/E ratio is determined by dividing a stock's current share price by its EPS, typically for the previous 12 months (also known as the trailing 12 months) (TTM). The majority of P/E ratios for publicly traded firms represent the stock's current price in relation to its earnings over the preceding 12 months.
Are Low P/E Ratio Stocks Always Better?High price-to-earnings (P/E) ratio stocks may be excessively priced. The stocks with lower P/E ratios does not make better investments than those with higher ones. The complicated response is that it depends on the circumstance.
P/E ratios tend to differ from industry to industry, therefore it's critical to contrast businesses in the same sector and with comparable attributes.
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In the short run, a profit-maximizing monopolistically competitive firm sets it price: A) equal to marginal revenue. B) equal to marginal cost. C) above marginal cost. D) below marginal cost.
In the short run, a profit-maximizing monopolistically competitive firm sets it price: above marginal cost. Option C. This is further explained below.
What is marginal cost?Generally, The marginal cost of production is the incremental cost incurred to produce one more unit of a good or service.
In conclusion, Initially, a monopolistically competitive business sets its price at a level above its marginal cost in order to maximize its profits.
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General nutrition center, uniglobe travel, and wendy’s are all examples of _____ because the franchisee buys the right to use the franchisor’s approach to doing business.
General nutrition center, Uniglobe travel, and Wendy’s are all examples of business format because the franchisee buys the right to use the franchisor’s approach to doing business.
The business format franchise model is an agreement in which the franchisor provides the franchisee with the established business that involved the name, trademark also it could be run in an independent way. The commission is to be taken by the franchisor from the franchisee in providing this service.
Today, franchising opportunities are often referred to as business-to-business franchising. A form of franchise that is almost exactly what it sounds like, when all is said and done. In a standard business format franchising structure, a franchisee is granted a license by the franchisor to use its primary brand. This is one of the important aspects of business format franchising.
Home → Terms → Business Format Franchise
Business Format Franchise Franchising is a type of franchise that has so far been the most common approach to franchising and most commonly used by entrepreneurs and businesses in which the franchisor lays out the business formula for the franchisee with advertising, training, and other forms of advertising. other forms of support. Fast food restaurants, convenience stores, fitness centers, and tax preparation services are well-known examples of business-scale franchising.
Although corporate-format franchising provides a franchise formula for doing business, it can also be very rigid and demanding. For example, fast food restaurants like McDonald's and Burger King teach their franchisees all the details of how to run their restaurants, from the number of seconds it takes to cook fries to the exact words their employees should use when greeting client. Business format franchisors derive most of their revenue from their franchisees in the form of royalties and franchise fees.
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For each price in the following table, calculate the firm's optimal quantity of units to produce, and determine the profit or loss if it produces at that quantity, using the data from the graph to identify its total variable cost. Assume that if the firm is indifferent between producing and shutting down, it will produce
Total variable cost is -44000 ,0, 244000.
TR = P * Q
TC = FC + VC
Profit = TR - TC
Price Q TR FC VC
10 6000 6000 * 10 = 60000 44000 =10 * 6000 = 60000
16 8000 16 * 8000 = 128000 44000 =10.5 * 8000 = 84000
40 12000 40 * 12000 = 480000 44000 =16*12000 = 192000
Profit
-44000
0
244000.
The main goal of a perfect competitor to maximize profits is to calculate the optimum production level where marginal cost (MC) = market price (P). As shown in the graph above, the point of profit maximization is where the MC intersects the MR or P.
This is the output when the marginal revenue from the last sold unit is equal to the marginal cost to produce it.
In order to maximize profits, companies need to produce in a place where marginal revenue and marginal cost are equal. The company's marginal production cost is $ 20 per unit. If the company produces 4 units, its marginal revenue is $ 20. Therefore, the company needs to produce 4 production units.
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Which of porter’s five forces was likely the most powerful factor influencing the failure of blackberry?
Answer is the threat of substitute products or services.
Rivalry among the existing competitors was not a significant factor in the BlackBerry's downfall because they were not able to produce any form of alternative to the iPhone, and the users switched from the BlackBerry phones to the iPhones. The danger of replacement products is one of the Porter's five factors, and it indicates that there are alternative items that are likely to steal the company's market share. The downfall of the BlackBerry was caused by the substitute product in the shape of the iPhone.
All of the other allegations are untrue because there were no new entrants and the suppliers threatened because they were unable to upgrade their product.
Therefore, (B) Threat of substitute products or services is the correct answer is the correct answer.
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This video describes how software products often interject pop-up warnings to help you make mindful decisions with your work. Which of the following attributes of experience design does this example best illustrate
The attribute of experience design which the given example illustrates is of friction and flow - sequence and structure.
What is designing?It is the procedure of conceptualizing and organizing the production of things, interactive systems, structures, vehicles, etc. Users are at the center of the design thinking process, making it user-centered. It involves developing solutions to meet needs or solve problems for individuals, tangible objects, or more abstract systems.What is Experience design?An approach called experience design can be used to design any experience, from creating inventive new goods to creating marketing messages or even workplace policies that improve employee encounters.The process of ideation, testing, and iteration to improve the experience begins with a thorough understanding of the individual or persons you are building an experience for. This serves as the "ground zero" for all decisions made.In interface design, friction and flow are two ideas that help users complete tasks by either preventing errors or encouraging them to do so. It's crucial for designers to use both as needed throughout the user journey.
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What is the difference between direct write-off method and allowance method?
The allowance technique anticipates and plans for a specific amount of unpaid debt, whereas the straight write-off method merely deals with the debt once it has not been paid.
The allowance technique is putting up a reserve for any future bad debts. The reserve is calculated as a percentage of sales made during a reporting period, maybe modified for the risk associated with a certain client.
The direct write off technique, also known as the direct charge-off method, is a mechanism used by corporations to settle bad debts to costs after an individual invoice has been determined to be uncollectible.
The primary distinction between the direct write off method and the allowance method is that, whereas the direct write off method records the accounting entry when bad debts materialize, the allowance method sets aside an allowance for possible bad debts, which is a percentage of credit sales made during the year.
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In an operating lease in which the asset’s economic life and lease term are different:________
In an operating lease in which the asset's economic life and lease term are different: The lessee depreciates the asset over its economic life.
What makes a lease an operating lease?
An operating lease is a legal arrangement that allows the use of property without changing who owns it. Operating lease accounting is governed by GAAP guidelines. All leases with terms longer than 12 months must be recorded on the balance sheet, according to a new FASB regulation that took effect on December 15, 2018.
Which lease is a long term that is not cancellable and its life often matches the useful life of the asset?
When a lessor agrees to transfer ownership rights to the lessee once the lease term is over, this is known as a capital lease. Long-term and irrevocable are the characteristics of capital or finance lease.
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S21: Tracing Algorithms Activity Page 1 of 4 128 points possible 1. A woman invests $200 on January 1 for each of three years in a fixed income bond that pays interest of 8 per cent per annum, the interest being added to her account at the end of each year. The following algorithm gives the total value of her investment after the three-year peri
Algorithms are simply used as prototypes or guide of an actual program
Trace the algorithmThe complete question is added as an attachment
The variables in the algorithm are
Variables I and A
Where A represents the initial amount invested, I represents the number of years
So, the trace of the algorithm is:
Initialize A to 0Iterate with I from 0 to 3Add 200 to AMultiply A by 1.08Print A after the iterationsHow the algorithm can be amendedFrom the question, the amendment of the algorithm is to print the investment after each year.
To do this, we simply include the print statement inside the loop statement
So, we have:
A = 0
FOR I = 0 TO 3
A = A + 200
A = 1.08 * A
PRINT A
NEXT I
Modify the algorithmThe modified algorithm is as follows:
A = 0
INPUT P
INPUT N
FOR I = 0 TO N
A = A + P
A = 1.08 * A
NEXT I
PRINT A
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1. Sell product for $25,000 with historical cost of $20,000 2. Sell product for $20,000 with historical cost of $16,000 3. Sell product for $40,000 with historical cost of $32,000 What is the final amount in Retained Earnings
The final amount in Retained Earnings after selling the three different products with different prices and historical costs is $17,000.
What is the difference between the selling price and historical cost?The difference between the selling price and its historical cost is profit.
Profit is the financial benefit realized when the revenue generated from a business activity exceeds the expenses, costs, and taxes.
Data and Calculations:Product Selling Price Historical Cost Profit
A $25,000 $20,000 $5,000 ($25,000 - $20,000)
B $20,000 $16,000 $4,000 ($20,000 - $16,000)
C $40,000 $32,000 $8,000 ($40,000 - $32,000)
Total $85,000 $68,000 $17,000
Thus, the final amount in Retained Earnings after selling the three different products with different prices and historical costs is $17,000.
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Mei-Ling is a college junior majoring in finance and economics. She is interested in applying for internships and plans to attend her next college job fair. She wants to purchase a business suit to wear to the job fair and at subsequent interviews. Mei-Ling wants to look her best and wear appropriate attire. Since making a first impression is important, Mei-Ling will likely take considerable time to visit stores and try on multiple suits before she makes her purchase decision. Mei-Ling has never purchased a suit before, and this is the first time she will buy an expensive item without her mother assisting in the decision. Which type of decision-making will Mei-Ling utilize in purchasing her suit
The type of decision-making that Mei-Ling utilize in purchasing her suit is an extensive decision making.
What is extensive decision making?It should be noted that an extensive decision making implies a long process of deliberation when making a decision regarding purchases.
In this case, the type of decision-making that Mei-Ling utilize in purchasing her suit is an extensive decision making.
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At Delta Corp. the manufacturing and design department frequently consults with the research and development department and the marketing and sales department regularly interacts with the manufacturing and design department. This scenario illustrates _____ at Delta.
At Delta Corp. the manufacturing and design department frequently consults with the research and development department and the marketing and sales department regularly interacts with the manufacturing and design department. This scenario illustrates coordination at Delta.
Why coordination is important function of management?
The role of management in coordination is to make sure that various groups and departments operate in unison. As a result, all of the departments, groups, and employees act in unison. Additionally, it promotes harmony in the execution of various tasks and activities to effectively meet the organization's goals.
What is the importance of coordinating with other departments?
Since coordination combines the organization's material and human resources, it helps to prevent employees from working on unrelated projects at the same time. Because there is less resource wastage, the company can use its resources more effectively.
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In the context of leadership styles, which of the following statements is true about the autocratic style
In the autocratic style, power is exercised by a dominant and dictatorial individual.
What do you mean by autocratic style?
Autocratic leadership, often known as authoritarian leadership, is characterized by a lack of group engagement and individual control over all decisions. When making choices, autocratic leaders usually rely on their own opinions and assessments rather than consulting with their followers.
What are the characteristics of autocratic leadership style?
minimizes or excludes group members' input.requires that practically all decisions be made by leaders.gives managers the power to impose their work procedures and methods.gives the group the impression that they aren't trusted to handle crucial decisions or jobs.Learn more about autocratic leadership style : https://brainly.com/question/14706044
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1. All of the following pairs of goods are substitutes except :________.
A. we observe the price of bacon increases and the demand for eggs decreases. B. we observe the price of coffee increases and the demand for tea increases. C. we observe the price of tennis racquets decreases and the demand for golf clubs decreases. D. we observe the price of automobiles decreases and the demand for public transit decreases. 2. All of the following pairs of goods are complements except :_________.
A. we observe the price of tennis racquets increases and the demand for tennis shoes decreases. B. we observe the price of bacon decreases and the demand for sausage increases. C. we observe the price of coffee decreases and the demand for tea decreases.
D. we observe the price of automobiles decreases and the demand for tires increases.
The answer is Option A. The options are substitutes except A. we observe the price of bacon increases and the demand for eggs decreases.
What is a good substitute?This is the term that is used to refer to the goods that can be substituted for other goods.
These types of goods are known to have very close usage to the goods that they are substituting.
Eggs and bacon are not substitute goods these are the types of goods that are known to complement themselves. They go hand in hand and one is not used in place of the other.
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If a supervisor offers an employee a pay raise in exchange for going out on a date, it is?
If a supervisor offers an employee a pay raise in exchange for going out on a date, it is Quid pro quo harassment.
Quid pro quo harassment occurs in the workplace where any manager or any other authority figure offers or merely hints that he or she will give the employee something just like a raise or a promotion in return for that employee's satisfaction of a se xual demand.
This harassment also occurs when any manager or any other authority figure says that he or she will not fire or punish any employee in exchange for some type of se xual favor for him or her.
A job applicant can also be the subject matter of this kind of harassment if the hiring decision was based on the acceptance or rejection of se xual advances.
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Employee benefits are:
a. monetary rewards.
b. usually not viewed as being part of one's total compensation.
c. nonmonetary rewards.
d. temporary incentives.
e. required.
Employee benefits are- monetary rewards, and temporary incentives.
Employees in an organization or a company benefit from both monetary rewards as well as temporary incentives. Monetary rewards are cash or financial compensation provided by an employer to an employee, typically in addition to their salary.
The employers also provides their employees with temporary incentives such as bonuses and raises, recognition and rewards, health and wellness, giving fun gifts to employees etc.
Hence, monetary benefits represent quantifiable cash rewards presented for accomplishments. Monetary rewards and temporary incentives are often used by the employers in order to encourage workers to meet their goals.
Hence, option A and D are correct.
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Marketing dashboards display information in numerical formats and offer subjective feedback about initiatives and results.
false, Marketing dashboards do not display information in numerical formats and offer subjective feedback about initiatives and results.
A marketing dashboard is a visual representation of the data that is most crucial for monitoring important marketing KPIs and achieving one or more marketing goals. Top level marketing reports are compiled and organised on one page so that the data can be viewed quickly.
It also serves as the building block on top of which more intricate marketing analytics are performed. The amount of data that marketers may now evaluate has multiplied as a result of the growing ubiquity of digital media. Sorting out valuable figures from useless ones and excellent data from bad data is more crucial than ever.
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As the ceo of one of these companies, how would you respond to calls to share your company’s ip and under what circumstances? How would a biblical worldview influence your decisions?
As the ceo of one of these companies, how would you respond to calls to share your company’s ip and under what circumstances
The Biblical worldview says there is a God—One who is personal, powerful and caring—who created the world and everything in it.
Cultivating a Biblical Worldview
Orgin – where did I come from?
Destiny – where am I going?
Purpose – why am I here?
Values – how should I live?
Truth – what is the truth?
If sharing truely makes experience. Partnering with a suitably qualified company can provide exquisite advantages.
A biblical worldview is depended upon the plans God has for my life, verses my personal desires, for example, I may need to be wealthy, however God may additionally simply want me to be at ease
The necessities inside the biblical worldview are:
God, humanity, Christ, recovery.“Worldviews no longer best effect how we apprehend and make experience of the sector round us however also have an impact on how we specific ourselves in the international. The constellation of personal values, beliefs, assumptions, attitudes, and thoughts that make up our worldview have an affect on our goals and goals, relationships and behaviors.
A biblical worldview affirms that God is the sovereign and almighty Lord of all lifestyles. Such an confirmation rejects any form of dualism, that count number has ceaselessly existed, or that be counted must, therefore, be evil given that it's far in principle opposed to God, the supply of all appropriate.
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These transactions took place for Bramson Co. 2021 May 1 Received a $5,000, 12-month, 6% note in exchange for an outstanding account receivable from R. Stoney. Dec. 31 Accrued interest revenue on the R. Stoney note. 2022 May 1 Received principal plus interest on the R. Stoney note. (No interest has been accrued since December 31, 2021.) port Record the transactions in the general journal. The company does not make entries to accrue interest except at December 31.[Credit account titles are autom when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.) Date Account Titles and Explanation Debit Credit
The transactions at Bramson Co. are recorded in the General journal format by debiting an account and crediting the other
Journal entries are made as follows:
What is Receivable?Receivable is a compensation for the goods or services sold, the receivable is recorded as the cash to be received and when this cash is actually received the receivables entry is reversed.
May 1 2021
Receivables DR $5000
Sales CR $5000
To record Receivables from R. Stoney
Dec 31 2021
Allowance for bad debts DR $300
Receivables $300
To record the allowance for bad debts expected
May 1 2022
Receivable DR $300
Accrued Interest Income CR $300
(Assuming 6% interest rate)
To record the interest income
May 1 2022
Cash DR $5300
Receivables CR $5300
To record the cash receipt from R. Stoney
May 1 2022
Receivables DR $300
Allowance for receivables CR $300
To record the reversal of allowance for receivables.
The transaction will be recorded as this and the final transaction shows how to reverse the allowance for receivables previously recorded.
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An asset which costs $18,800 and has accumulated depreciation of $6,000 is sold for $11,600. What amount of gain or loss will be recognized when the asset is sold
A loss of $1,200 will be recognized when the asset is sold.
An asset that costs $18,800 and has accumulated depreciation of $6,000 is sold for $11,600. What amount of gain or loss will be recognized when the asset is sold?
Cost of asset = $18,800
Depreciation= $6,000
Asset value after depreciation= $18,800 - $6,000
= $12,800
Sold for the price = $11,600
Loss= $12,800- $11,600 =$1200
What is depreciation in accounting?
The accounting technique of spreading out the cost of a tangible item over its useful life is known as depreciation. The amount of depreciation shows how much of an asset's worth has been utilized. Purchasing assets over a predetermined length of time enable businesses to generate income from the assets they own.
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In terms of commonly traded organizational currencies, providing friendship, giving emotional backing, and listening to others' concerns and issues are examples of _______-related currencies.
In terms of commonly traded organizational currencies, giving a task that could result in a promotion, acknowledging someone's effort and accomplishments, and providing opportunities for linking with others are examples of e. Position-related -related currencies.
Foreign money is a kind of money and medium of change. Currency consists of paper, cotton, or polymer banknotes and metal coins. States generally have a monopoly on the issuing of forex, although some states have percentage currencies with different states.
Kuwaiti Dinar is ranked the top maximum currency in the world in 2022. it is also taken into consideration the best and most powerful inside the world today. Kuwait is a rustic recognized for its first-rate exploits in the oil enterprise. It has a globally solid economic system.
Appearance up foreign money in Wiktionary, the unfastened dictionary. A currency is the standardization of money in any shape, in use, or circulates as a medium of alternate, for example, banknotes and coins.
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In terms of commonly traded organizational currencies, giving a task that could result in a promotion, acknowledging someone's effort and accomplishments, and providing opportunities for linking with others are examples of p[tion(e) i.e, Position-related -related currencies.
A form of currency and a means of exchange is foreign money. Paper, cotton, or polymer banknotes and metal coins make up the money. Although some states have percentage currencies with other states, states typically have a monopoly on the issuance of foreign exchange.
In 2022, the Kuwaiti dinar is predicted to be the most valuable currency in the world. It is also regarded as the best and most powerful in the modern world. Kuwait is a nation renowned for its outstanding achievements in the oil industry. It has a sound economic structure worldwide.
A currency is the uniformization of money in any form that is in circulation or is used as an alternative means of exchange, such as banknotes and coins.
The complete question is:
In terms of commonly traded organizational currencies, giving a task that could result in a promotion, acknowledging someone's effort and accomplishments, and providing opportunities for linking with others are examples of ______-related currencies.
a. Relationship
b. Personal
c. Inspiration
d. Task
e. Position
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Audrey contracts CLEANOUT Inc. to upgrade the plumbing at each of her company's six offices. Audrey wanted the work to be done in two days, but CLEANOUT took three days to complete the work. Which of the following statements is most likely to be true in this scenario? Group of answer choices Both Audrey and CLEANOUT must consult a neutral third party to resolve their contractual dispute. CLEANOUT is entitled to a partial recovery under the contract. Audrey can sue CLEANOUT for material breach of contract. Audrey can refuse payment to CLEANOUT. CLEANOUT is entitled to full recovery under the contract.
The statement that is said to be most likely to be true in this scenario are:
Both Audrey and CLEANOUT must consult a neutral third party to resolve their contractual dispute. Audrey can sue CLEANOUT for material breach of contract. What is the contract about?In contract law, a "material" breach of contract is known to be a form of breach that took place when one part fails to carry out the contract and this strikes so well at the heart of the contract that it tends to renders the agreement "practically broken"
Note that The statement that is said to be most likely to be true in this scenario are:
Both Audrey and CLEANOUT must consult a neutral third party to resolve their contractual dispute. Audrey can sue CLEANOUT for material breach of contract because it passed the due date.Learn more about contract law from
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Issuing bonds to obtain long-term funds legally compels a firm to pay regular ________ payments and repay the ________ at the maturity date.
Issuing bonds to obtain long-term funds legally compels a firm to pay regular interest payments and repay the principle at the maturity date.
Describe the strategic management process and list the four components of he strategic management process
The strategic management process means illustrating the company's strategy which involves planning, setting and direction of goals in order to achieve goals within a given period of time to make a company more competitive.
The four components of the strategic management process:-
Collecting Information - It involves gathering of information of internal and external factors that can influence a company.Strategy Formulation - This step involves what action should be taken to achieve goals.Strategy Implementation - In this the actions which have decided are executed swiftly for achieving goals.Strategy Evaluation - After implementation of strategy, it should be monitor and corrective actions should be taken if there are issues.Read more about Strategy Evaluation on brainly:-
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state courts have ruled that companies can be held liable for __________ if they fail to do adequate background checks. a. deceptive interviewing b. negligent hiring c. over recruiting d. staff inflation
The correct option is (b) negligent hiring.
State courts have ruled that companies can be held liable for negligent hiring if they fail to do adequate background checks.
What is negligent hiring doctrine?According to the doctrine of negligent hiring, a company is responsible for any injury its workers do to third parties if they knew or should have known that the employee posed a danger of doing so, or if a reasonable investigation would have revealed the risk.
The causes of negligence hiring are-
Whether the employee's unfitness was the cause of the injuries that resulted Whether the employer knew or should have known (had the employer used ordinary care) of the employee's unfitness at the time of employment. Each state has a different liability standard.An employer be concerned about negligent hiring and retention because-
An employer may be liable for real injuries, pain and suffering, and even punitive damages if they fail to discipline an employee who poses a danger of injury to coworkers, clients, and others.The company may be held liable if these employees go on to commit careless or reckless conduct that could endanger others.The elements of a negligent retention claim include all of the following:
An affiliation with a company.The employee's lack of expertise.The employer may have had actual or constructive awareness of the ineptitude.An employee's action or inaction that resulted in the plaintiff's injuries.To know more about the negligent hiring with example, here
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Financial statement users need to be aware of changes in inventory levels when using costing. (Enter only one word per blank.)
The users of financial statements need to understand the change in the inventory level, this can be calculated by the users by comparing the current and last year's financial statement.
What is Inventory?Inventory is the current asset held by the company which is sold to customers to earn profits. This inventory is also called Stock, the inventory is presented in the financial statements under the current assets head.
The inventory breakup is also given in the notes to the financial statements and users are able to view and analyze that also.
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In general, neoclassical economists focus on aggregate ________ to help stimulate the economy?
In general, neoclassical economists focus on aggregate supply to help stimulate the economy. Neoclassical economics is a comprehensive school of thought that uses supply and demand to try to explain how products and services are produced, priced, consumed, and how money is distributed. It combines the marginalizm and utility maximization theories with the cost-of-production theory from traditional economics.
The work of economists like Stanley Jevons, Maria Edgeworth, Leon Walras, Vilfredo Pareto, and others is categorized as neoclassical economics. In the 1900s, neoclassical economics first appeared. Imperfect competition models entered neoclassical economics in 1933. The use of several novel techniques, such as marginal revenue curves and indifference curves, was made.
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The average revenue for Professional Road Bikes in the US market was $17,362, and in Germany was $19,669. Can you conclude that road bike sales in Germany are significantly higher than in the US? Yes, or no? why? Explain your answer in a few sentences.
Yes. Road bike sales in Germany are significantly higher than in the US.
What is revenue?Revenue can be defined as the income or money generated from the sales of goods and service.
Since the average revenue of Professional Road Bikes in the United States is market was $17,362 while that of Germany was $19,669 , this implies that road bikes sell more in Germany than United States.
Hence, the likely reason for the difference in revenue may be because their are high number of people that make use of rode bike in Germany compare to US.
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When a government decides only people who have paid an annual fee will get certain services, such as firefighting services, which of the three economic questions does it answer
When a government decides only people who have paid an annual fee will get certain services, such as firefighting services, is (C) Who should get the goods produced?
What is Economic System?
An economic system, is a system of production, resource allocation and distribution of goods and services within a society or a given geographic area. It includes the combination of the various institutions, agencies, entities, decision-making processes and patterns of consumption that comprise the economic structure of a given community.
What a Command Economy?A command economy is an economic system where the government has control over the production and pricing of goods and services. Sometimes called a planned economy, in a command economy, the government decides which goods and services to produce, the production and distribution method, and the prices of goods and services. The government is the central planner.
What are the Three Economic?An economic system is any system of allocating scarce resources. Economic systems answer three basic questions:
What will be produced?How will it be produced?How will the output society produces be distributed?Therefore, we can conclude that the correct option is C.
Your question is incomplete, but most probably your full question was:
When a government decides only people who have paid an annual fee will get certain services, such as firefighting services, which of the three economic questions does it answer?
A. Is this a good way to allocate services?
B. How should it be produced?
C. Who should get the goods produced?
D. Is it fair to deny services?
E. What should be produced?
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