(0.5 points) Advertising is when a company pays for messages that are meant to get consumers to notice and want its products. 4. What is a warranty? (0.5 points) A warranty is a specific promise about product performance that is written down in formal documentation and is usually limited to a specific time frame, so it can expire. 5.
(0.5 points) When one company controls an entire area of goods or services, so that customers don’t have other choices. 5. What is a motive? (0.5 points) A reason for doing something. Lesson 3 (3.0 points) 1.
Inventory Systems Summary QRB/501 October 8. Inventory Systems Summary Businesses today must ensure that they have an adequate supply of materials for production and finished products for delivery to consumers. Without the utilization of an inventory control system, businesses can find that possessing excess inventory is costly as well as not having an adequate supply of inventory can also become costly because of delays in consumers receiving products, goods and services. Businesses that conduct transactions that include quantifiable goods such as food, clothing, equipment, almost any type of commodity utilized a form of inventory control. The type of inventory control system can vary, depending on the type and size of a company and the type of goods or services being distributed.
This would explain the difference in gross profit and sales revenue. 2. The economy seems to be a concern as; people are not flocking to the best of the best any longer and may be searching for alternative products. In tough times even a strong market share can erode with the search for comparable products at a lessor price. It appears that this very issue may be vexing Elite.
Which is the MOST commonly used measure of corporate performance (in terms of profit)? • ROE • ROI • EPS • DPS 4. When a company determines a competency's competitive advantage, Barney refers to this issue as • value • rareness • imitability • organization Final Exam Answers just a click away MGT 498 Final Exam 5. If performance data and activity reports indicate undesirable performance as a result of inappropriate use of the strategic management process, operational managers must • change the strategic management model. • know about it so that they can correct the employee activity.
The IRS will perceive the high compensation as an attempt to avoid paying taxes. However, Kim can defend himself using the five factors established in Elliott's case. With respect to employees role in the company, Kim can claim that he is instrumental in getting all the business, he has established relationships with customers, and is the pivotal person in the company. He can make external comparison by showing that person in the industry in his position earn $500,000, however, since he has done the work of several persons by putting in extra effort, extra endeavors, and extra hours he should be suitably compensated for his toils. With regards to the "character and condition of the company", Kim needs to provide support about the financial and business strength of the company, and that the company is performing exceptionally well because of Kim.
(0.5 points) Wages, salaries, or work is the process of earning your income 3. Name at least two industries. (1.0 points) Emboldened by a sweeping electoral triumph, Roosevelt applied fresh determination to the cause of reform. The banking and automotive industries were the most heavily impacted 4. What is an internship?
Because practical considerations make job tryouts for all candidates infeasible, it is necessary to __________ the relative level of job performance for each candidate on the basis of available information. accept predict abandon assign 6. _____ analysis is the level of analysis that focuses on employees specifically. Employee Operations Environmental Individual 7. Title VII of the _____________ states that top executives in companies receiving government support can retract bonuses, retention awards, or incentives paid to the top five senior executive officers or the next 20 most highly compensated employees based on corporate information that is later found to be
In quite stark contrast to their liquidity and profitably, Elker has shown to be quite adept in managing their inventory and collecting receivables. Their days-in-inventory ratio is almost five days under the industry average. This formula is used to determine how quickly a company is converting their inventory into sales. A slower turnaround on sales may be a warning sign that there are problems internally, such as brand image or the product, or externally, such as an industry downturn or the overall economy. The fact that they are significantly under the industry average indicates that Elker is more effectively converting their inventory into profit.
The Five Bases of Power The five bases of power There are five bases of power. They are as follows: coercive power, reward power, legitimate power, referent power, and expert power. Different positions hold power and it is exercised in different ways. These different forms of power can come from various leaders like: a vice president of a company who would be considered an expert in their field, a professional player like Tim Tebow who has the power to influence others to be like him, and fire fighters have legitimate power. Our careers have reward power over us because it provides us with the money to feed our families and pay bills.