(TCO A) Describe the relationship between quality and personal values. 4. (TCO H) Identify and discuss five differences between service and manufacturing organizations. 5. (TCO B) Cite two ways that the accounting function can contribute to the achievement of quality.
(0.5 points) Information utility is the value added to a product by providing the consumer with useful information. 4. List the six stages of a business. (1.5 points) The six stages of a business is identity, plan, start, aerate, improve and, exit. Lesson 2 (3.0 points) 1.
How can different sources of funds help a business achieve its financial objective? Businesses usually have five main financial objectives. They are efficiency, growth, solvency, liquidity and profitability. Sourcing different sources of funds and interdependence with other key business functions (operations, marketing and human resources) is the way that businesses achieve these goals. It is important that these funds match their needs, for example, short-term funds to match short-term goals.
The definition would describe growth as the process of improving measures of an enterprise’s success. Business growth can be achieved either by boosting the revenue of the business with greater product sales or service income, or by increasing the profitability of the operation by minimising costs. Profitable growth can be achieved in many ways and strategic diversification has definitely played a large role in the growth of many large businesses today. However just like any strategy this all depends on many factors. For example, the type of industry the business is operating in or the risks involved into entering new markets.
What type of business level strategy is Montague pursuing? 5. What resources and capabilities help pursue its strategy? Case 4: IDEO 1. How would you characterize IDEO’s organization, culture and management?
It also shows some other possible objectives for the firm. Sales revenue maximisation, for example, occurs when marginal revenue is equal to zero, as the next unit produced would carry a negative marginal revenue and hence reduce total revenue. The point where the volume of sales of the good are maximised subject to making at least normal profit is also shown (at the point where AR=AC). An Diagram Possible objectives of the firm I Profit maximisation may become
This indicates an inverse relationship between price and quantity demanded as long as all other factors remain constant. (Ceteris Paribas). Therefore the law of demand supports the idea that consumption of both black and white colour televisions will rise as a result of a fall in their price. The law of demand involves both the substitution effect and the income effect. The substitution effect is the effect on the quantity of a good demanded by the consumer as a result of the relative price being different and this factor alone.
Assuming that 2007 is a typical year for KimTech, in terms of profitability and compensation practices, evaluate the reasonableness of Kim's compensation package in light of the five factors enumerated in the Elliotts case. If audited by the IRS, will Kim's compensation be deemed reasonable? Why or why not? What can KimTech do to show that Kim's compensation is reasonable? The five factors under Elliotts case are (1) the employee's role in the company; (2) a comparison of the employee's salary with those paid by similar companies for similar services; (3) the character and condition of the company; (4) potential conflicts of interest; (5) evidence of an internal inconsistency in a company's treatment of payments to employees.”… http://ftp.resource.org/courts.gov/c/F3/221/221.F3d.1091.99-70164.html If audited by the IRS I think Mr. Kim's compensation would be deemed unreasonable.
Sample Format for the LIT1 Sample Format for the LIT1-Task One Task Instructions: Write a report (suggested length of 5–7 pages) about the forms of business organizations listed below. Your report should have a subheading for each business form with a brief description of the business form and a brief discussion of the key characteristics, advantages, and disadvantages of that form of organization. Differentiate among the following forms of business by explaining how at least six of the seven key characteristics listed in the introduction to this task apply to each of the following organizational forms: 1. Sole Proprietorship 2. General Partnership 3.
ACCT 434 Week 5 Pricing Decisions Management Control Systems Purchase here http://chosecourses.com/ACCT%20434/acct-434-week-5-pricing-decisions-management-control-systems Product Description 1. Question : (TCO 7) Major influences of competitors, costs, and customers on pricing decisions are factors of 2. Question : (TCO 7) The first step in implementing target pricing and target costing is 3. Question : (TCO 7) The markup percentage is usually higher if the cost base used is 4. Question : (TCO 7) An understanding of life-cycle costs can lead to 5.