The weekly demand for crabs at a restaurant is 100 units. The annual inventory carrying cost
for the crab is $10 per unit. The ordering cost for one order of any size is $50 , and the time between
ordering and receipt is one week. At what inventory level should they place their orders? What is the
optimal order quantity, and how many times a year do they need to place an order?
Answers
The restaurant should place orders when the inventory level reaches 50 units. The optimal order quantity is 50 units, and they need to place orders 52 times a year.
To determine the inventory level at which orders should be placed, we need to consider the trade-off between the inventory carrying cost and the ordering cost. The annual demand for crabs is 100 units, and since the time between ordering and receipt is one week, the restaurant needs to have enough inventory to cover a week's demand. Therefore, the reorder point is when the inventory level reaches 100 units - the demand for one week, which is 100 units - 100 units = 0 units. However, it is not practical to wait until the inventory reaches zero before placing an order.
To calculate the optimal order quantity, we need to consider the economic order quantity (EOQ) formula. EOQ = √[(2 × annual demand × ordering cost) / carrying cost per unit]. Plugging in the values, we get EOQ = √[(2 × 100 × $50) / $10] = √[1000] = 31.62 units. Since we can't order a fractional amount, rounding up to the nearest whole number gives us an optimal order quantity of 32 units.
To determine how many times a year orders need to be placed, we divide the annual demand (100 units) by the optimal order quantity (32 units). This gives us 100 units / 32 units = 3.125. Rounding up to the nearest whole number, the restaurant needs to place orders 4 times a year.
The economic order quantity (EOQ) model is commonly used to determine the optimal order quantity and reorder point for inventory management. It helps businesses find the balance between carrying costs and ordering costs, ensuring efficient inventory levels and minimizing costs. By using EOQ calculations, businesses can optimize their inventory management practices, reduce stockouts, and improve overall supply chain efficiency.
Learn more about inventory level
brainly.com/question/31422773
#SPJ11
Related Questions
the limited liability of a stockholder in a closely held corporation may be challenged successfully if the stockholder:
Answers
The limited liability of a stockholder in a intently held enterprise can be challenged efficiently if the stockholder has engaged in positive actions that can be deemed fraudulent or illegal.
As an example, if a stockholder has engaged in unlawful or fraudulent activities that bring about the organization being sued, the court may also pick out to pierce the company veil and preserve the stockholder in my opinion accountable for any damages or losses.
Further, if a stockholder has engaged in gross negligence or mismanagement of the organization, the court docket may pick to pierce the corporate veil and maintain the stockholder personally in charge. it is crucial for stockholders in intently held businesses to act in accurate religion and exercise due diligence to avoid any potential legal responsibility.
Learn more about limited liability of a stockholder :-
https://brainly.com/question/31352251
#SPJ4
What four techniques do producers usually use to deal with limited capital goods?
Answers
The four techniques that producers usually use to deal with limited capital goods are: Prioritization, Substitution, Specialization, Collaboration.
What four techniques do producers usually use to deal with limited capital goods?Producers often use the following four techniques to deal with limited capital goods:
Prioritization: Producers prioritize which projects or products to focus on based on the potential return on investment, market demand, and other factors. This allows them to allocate resources effectively and maximize their impact.
Substitution: Producers may substitute one capital good for another if it is more readily available or more cost-effective. For example, they may use a less expensive machine or equipment to produce a particular product.
Specialization: Producers may specialize in producing only a limited range of products or services, allowing them to concentrate their resources and expertise in that area.
Collaboration: Producers may form partnerships or joint ventures with other companies to pool resources and share the costs and risks of investment. This can help them overcome limitations on capital and achieve their goals more efficiently.
Learn more about who is a producers here:https://brainly.com/question/1213062
#SPJ1
several firms want to be the only horse carriage service in a small tourist town and must pay the city for a license to operate as a monopoly. competition among the potential firms will result in
Answers
Competition among the potential firms will likely result in a higher price for the licenses and potentially a more efficient allocation of resources.
When multiple firms compete for a monopoly license in a small tourist town, the demand for the limited number of licenses will likely drive up the price.
firm will try to outbid others to secure the exclusive right to operate as the only horse carriage service in the town. This competition can lead to an increase in the price of licenses.
Additionally, competition can lead to a more efficient allocation of resources. Firms competing for the monopoly license will strive to present the most competitive bids and demonstrate their ability to provide high-quality services. This competitive pressure can encourage firms to innovate, improve efficiency, and deliver better value to Customer .
However, it's important to note that operating as a monopoly may reduce competition in the market, potentially limiting consumer choices and leading to higher prices for carriage services. The impact of competition on prices and efficiency will depend on various factors, including the level of demand, the behavior of the firms, and any regulations or oversight in place.
Learn more about Customer here:
https://brainly.com/question/31192428
#SPJ11
Assume an increase in investment spending by $100, and a marginal propensity to consume (MPC) of 0.6. How much would GDP increase after the $100 was absorbed by the economy due to the multiplier effect
Answers
Answer:
The increase in GDP is $250
Explanation:
The increase in investment spending = $100
Marginal propensity to consume = 0.6
Now we have to find an increase in the GDP after absorbing the $100.
Therefore, we need to find the multiplier by using the marginal propensity to consume.
Multiplier = 1 / (1-MPC)
Multiplier = 1/( 1- 0.6)
Multiplier = 2.5
The increase in GDP = increase in investment spending × Multiplier
The increase in GDP = 100 × 2.5 = $250
which of the following is true about FBLA-PBL?
A. There are thousands of chapters
B. joining replaces the need to attend college
C. the organization doesn't host any events
D only middle school students can join
Answers
Answer:there are thousands of chapters.
Explanation:
it’s the only answer that makes sense.
Frontier airline has gained success because enough travelers are willing to trade off carrying extra items for a lower price ticket. The ________ reflects the capture of value in the marketing exchange.
Answers
The price reflects the capture of value in the marketing exchange. A marketing transaction occurs whenever two or more parties exchange goods or services.
According to marketing theory, every exchange should result in "utility," which means that the value of what you trade must be lower than the value of the benefit you receive. Naturally, transactions in the real world are much more nuanced.
According to marketing theorists, exchange is the key idea without which there could be no marketing. Both sides must have something of value to offer one another in order for an exchange to take place. For instance, a man walking into a coffee shop might have enough cash to buy a cup of coffee while the cafe has the coffee. Communication between the parties is necessary.
Learn more about marketing exchange here:
https://brainly.com/question/32370388
#SPJ12
Question 10 of 20
What is the difference between a market economy and a command
economy?
A. A market economy is determined by central authority and a
command economy is determined by consumers,
B. A market economy is determined by consumers while a command
economy is determined by both consumers and central authority
C. A market economy is determined by both central authority and
consumers while a command economy is determined by only
consumers
D. A market economy is determined by consumers and a command
economy is determined by central authority,
Answers
a rightward shift of the traditional phillips curve would suggest that:
Answers
A rightward shift of the traditional Phillips curve would suggest that there is a decrease in the correlation between unemployment and inflation. In other words, higher levels of unemployment are associated with lower levels of inflation.
This shift can be caused by a variety of factors, such as changes in the structure of the labor market, technological advancements, or changes in monetary policy. Additionally, a rightward shift of the Phillips curve may also suggest that there is an increase in the natural rate of unemployment, which is the level of unemployment that exists when the economy is at full employment and inflation is stable. Overall, a rightward shift of the Phillips curve indicates a change in the relationship between unemployment and inflation, and has important implications for policymakers and economic analysts.
A rightward shift of the traditional Phillips curve would suggest that there is a change in the relationship between inflation and unemployment in the economy. This shift implies that for a given level of inflation, the unemployment rate is now lower than it was before the shift. This change could be attributed to various factors such as increased productivity, technological advancements, or structural changes in the labor market. Consequently, this rightward shift can lead to a situation where both low unemployment and low inflation can be achieved simultaneously, which is generally considered favorable for economic growth and stability. In summary, a rightward shift of the traditional Phillips curve indicates an improved trade-off between inflation and unemployment, allowing for better overall economic conditions.
To know more about traditional Phillips curve visit:
https://brainly.com/question/29220442
#SPJ11
Cain Company reports net cash provided by operating activities of $35,000. It also reports the following information under “Adjustments to reconcile net income to net cash provided by operating activities” on its statement of cash flows (using the indirect method).
Answers
It can be seen from the solutions given that Cain's net income is $24,000.
Here is the solution:Net income = Net cash provided by operating activities - Adjustments
= $35,000 - $6,000 - $10,000 + $4,000 + $7,000 + $4,000
= $24,000
Therefore, Cain's net income is $24,000.
Here is a breakdown of the adjustments:
To determine cash flow from operations, it is necessary to include the gain on equipment sales in the net income as it is a non-cash entry.
A rise in accounts receivable implies that customers are prolonging payment of their invoices, resulting in decreased cash flow from the company's activities.
The depreciation expense is classified as a non-cash expense, hence it must be included in the calculation of cash from operations by adding it back to the net income.
A decrease in inventory indicates that the company is experiencing faster turnover of its inventory, leading to increased cash flow generated by its operations.
A rise in prepaid expenses denotes that the company is channeling more funds towards prepaid expenditures like insurance and rent, implying a reduced cash inflow from its operational activities.
A decline in the amount of wages that the company owes indicates that it is not promptly compensating its workforce. Consequently, this implies that the company's operational cash flow is reduced.
Read more about net income here:
https://brainly.com/question/28390284
#SPJ1
ROI stands for return on investment. It is the ratio of incremental profit from an activity over the cost of the activity times 100. If the incremental profit from your ad campaign is $5,000 and the cost of the campaign is $7,500, what is the ROI?
Answers
Answer:
66.7%
Explanation:
ROI stands for return on investment. It is the ratio of incremental profit from an activity over the cost of the activity times 100. If the incremental profit from your ad campaign is $5,000 and the cost of the campaign is $7,500, the ROI is 66%.
What is return on investment?The return on investment estimates the loss and gain generated on the amount of money that is invested. The return on investment) is the percentage to analyze an organization’s profit or the earnings of different investment.
The return on investments estimates what we will receive back as compared to what we have invested. It can be used by a company to estimate inventory investments, pricing policy, capital equipment investments, etc.
If the incremental profit from your ad campaign is $5,000 and the cost of the campaign is $7,500, the ROI is 66%.
Learn more about return on investments here:
https://brainly.com/question/13166641
#SPJ6
MC Qu. 20-98 (Algo) Assume the demand for automobile... Assume the demand for automobile tires is unitary elastic and that the supply is unitary elastic. The burden of a $2 excise tax on each tire will be Multiple Choice borne by resource suppliers that provide the inputs for manufacturing tires bome primarily by sellers of tires a shared about equally by buyers and sellers of tires. bome primarily by buyers of tires
Answers
If the demand for automobile tires is highly inelastic and that the supply is highly elastic, then the burden of a $2 excise tax on each tire will be :c) borne primarily by buyers of tires.
What is the reason?The demand for automobile tires is unitary elastic and so is the supply. An excise tax of $2 on each tire will increase the price of each tire by $2 (assume all other factors to be constant).Since the demand is unitary elastic, the percentage change in the quantity demanded is equal to the percentage change in the price. So, the amount of the increase in price will be shared equally between the buyers and sellers. Now, since the supply is unitary elastic, the percentage change in the quantity supplied is equal to the percentage change in the price. This means that the sellers will be able to pass on the entire tax amount of $2 to the buyers as an increase in the price of the tires.Thus, it can be concluded that the burden of a $2 excise tax on each tire will be borne primarily by buyers of tires.Hence, option c. is correct.
To know more on elasticity visit:
https://brainly.com/question/30999432
#SPJ11
A rising GDP and a falling unemployment rate are most likely indicators that an economy is in which phase of the business cycle?
answer: expansion
Answers
A rising GDP and a falling unemployment rate are most likely indicators that an economy is in the expansion phase of the business cycle.
During the expansion phase, the economy experiences an increase in economic activity and employment opportunities, resulting in a rise in GDP and a decline in unemployment rate. This phase is typically characterized by increased consumer and business spending, rising stock prices, and increasing confidence in the economy. The expansion phase is usually followed by the peak, recession, and trough phases in the business cycle.
The business cycle refers to the fluctuation of economic activity in an economy over time. It is typically characterized by alternating periods of expansion and contraction, with the peak, recession, and trough phases in between. Various factors contribute to the business cycle, including consumer spending, business investment, and government policies.
learn more about GDP here
https://brainly.com/question/30504843
#SPJ1
Education is the basic requirement for profession.Explain this statement
Answers
Answer:
The answer is below
Explanation:
Education is considered the basic requirement for the profession because, through education, people get to learn the basic knowledge required to perform a profession.
For example, a medical doctor or physician profession requires education in core biological science subjects such as microbiology, human anatomy, medical rehabilitation, dentistry, etc.
Education gives the professional the knowledge to anticipate, predict, and carry out the right solution to any problem that needs to be solved under his or her profession.
For example, a civil engineer needs education in architectural and engineering drawing to translates the drawing into reality or an actual project.
Education can be regarded as the basic requirement for profession because is gives a room to facilitate learning, or the acquisition of knowledge, skills that is required for that profession.
This is because every profession requires thorough training and basic knowledge which is required to build on for further training.
Therefore, Education can be regarded as the basic requirement for profession.
learn more about education at:
https://brainly.com/question/25950911
The largest component of planned aggregate expenditure is:
A. consumption
B. investment
C. government purchases
D. exports
Answers
Answer:
B. Investment
Explanation:
The word, "Expenditure" means to spend funds, so this act is done for investment
fob new york. macy agreed to prepay the $100 freight. leeco. pays the invoice within the discount period. what does leeco. pay macy?
Answers
Leeco would pay Macy the cost of the invoice minus the $100 prepaid freight and any applicable discount within the discount period.
When Macy agreed to prepay the $100 freight, this means that Macy is responsible for the shipping cost of the goods. The total amount owed by Leeco to Macy would include the cost of the goods plus any other applicable charges, such as taxes, handling fees, or other expenses.
If Macy offers Leeco a discount for paying the invoice within a certain period of time, then Leeco could potentially reduce the amount owed. The discount rate and the discount period would determine how much Leeco could save on the invoice. For example, if the discount rate is 2% and the discount period is 10 days, and the invoice amount is $1,000, then Leeco could receive a discount of $20 if they pay within the 10-day period.
Once the discount period has passed, Leeco would owe the full amount of the invoice minus any applicable discounts. So, if the invoice amount is $1,000, the freight charge is $100, and the discount is $20, then the amount Leeco would pay Macy is $1,080.
Learn more about discount: https://brainly.com/question/1548141
#SPJ11
____________ and _____________ are both data reporting outputs that contain data visualization.
Answers
Dashboards and reports are both data reporting outputs that contain data visualization.
What are these types of reporting outputs?A dashboard is a graphical user interface that displays data in a visual format, often using charts, graphs, and other data visualization tools. It allows users to quickly and easily monitor key performance indicators (KPIs) and metrics in real-time.
A report, on the other hand, is a document that presents information in an organized and structured manner, often including tables, charts, and other visual aids to help readers understand the data. Reports are typically more static and provide a more detailed analysis of data over a specific period of time.
learn more about reports: https://brainly.com/question/26177190
#SPJ1
C. George Delivery Co.'s adjusted trial balance shows two expense accounts: Wages Expense with a debit balance of $12,000 and Advertising Expense with a debit balance of $3,000. The journal entry to close these accounts will include a debit to which account(s):____________
Answers
Answer: income summary
Explanation:
the entire endowment of land and resources available to us that makes economic activity possible is called
Answers
The endowment of land and resources that enable economic activity is known as natural resources or natural capital, which encompasses various elements necessary for production and sustaining human life and economic development.
The entire endowment of land and resources available to us that makes economic activity possible is called the "natural resources" or "natural capital."
Natural resources include various elements such as minerals, water, air, forests, arable land, and other physical assets that contribute to the production of goods and services in an economy.
These resources serve as inputs for economic activities and are essential for sustaining and supporting human life and economic development.
Learn more about resources
https://brainly.com/question/30418403
#SPJ4
Which of the following describes the path–goal theory? ANSWER Unselected Identifies leadership style by measuring whether a person is task oriented or relationship oriented Unselected States that successful leadership depends on selecting the right leadership style contingent on the follower’s readiness Unselected Proposes that effective group performance depends on the proper match between the leader’s style and the degree to which the situation gives the leader control Unselected Suggests that it’s the leader’s job to provide followers with information, support, or other resources necessary to achieve goals
Answers
Answer:
I. The least preferred co-worker (LPC) questionnaire.
II. The situational leadership theory (SLT).
III. Fiedler contingency model.
IV. Path-goal theory.
Explanation:
A leader can be defined as an individual who is saddled with the responsibility of controlling, managing and maintaining a group of people under him or her.
Some types of power expressed by leaders are referent power, coercive, etc.
Generally, managers are typically involved in taking up leadership roles and as such are expected to be build a strong relationship between their employees or subordinates by creating a fair ground for effective communication and sharing of resources and information.
I. The least preferred co-worker (LPC) questionnaire: identifies leadership style by measuring whether a person is task oriented or relationship oriented.
II. The situational leadership theory (SLT): states that successful leadership depends on selecting the right leadership style contingent on the follower’s readiness.
III. Fiedler contingency model: proposes that effective group performance depends on the proper match between the leader’s style and the degree to which the situation gives the leader control.
IV. Path-goal theory: suggests that it’s the leader’s job to provide followers with information, support, or other resources necessary to achieve goals
1. Give short introduction of the professions in public service sector.
Answers
10108282828282828282
when CEO robert nardell took over home depot in 2000, there was central control. store managers acted independently and costs were higher than competitors like lowes. nardell changed the culture to focus on central control and cutting costs. to control costs, store managers were not allowed to choose products for local customers. employees os their customer-focused attitudes, and customer service suffered. to repair this , the next CEO, frank blake , sought to restore the "orange apron" culture. what does this example best illustrate?
Answers
Answer:
corporate culture is chosen by senior management in middle managers and employees have little control over it
Explanation:
I believe this is the answer because based off what it said the employees and managers were not allowed to choose products
Which characteristic of cash makes it especially susceptible to theft and
fraud?
Answers
The characteristic of cash makes it especially susceptible to theft and fraud is a liquidity
What is liquidity?Liquidity makes cash susceptible this is because it can easily be used to purchase asset.
Money can be liquidated by converting it into goods or materials for human use.
Therefore, The characteristic of cash makes it especially susceptible to theft and fraud is a liquidity
Learn more on liquidity below
https://brainly.com/question/921670
#SPJ1
Answer: Its lack of a paper trail
Explanation: trust me on this i just did the test
Identify the accounting principle or assumption that best reflects each situation. Principle or Assumption Situation 1. Each business is accounted for separately from its owner or owners. 2. Revenue is recorded when products and services are delivered. 3. Information is based on actual costs incurred in transactions. 4. Financial statement details that would impact decisions are often disclosed in the footnotes. 5. A company records the expenses incurred to generate the revenues reported. 6. The life of a company can be divided into time periods, and useful reports can be prepared for those periods.
Answers
1. Separate Entity Principle
2. Revenue Recognition Principle
3. Cost Principle
4. Full Disclosure Principle
5. Matching Principle
6. Time Period Assumption
1. The situation reflects the Separate Entity Principle, which states that the business's financial transactions should be accounted for separately from the personal transactions of its owner or owners. This principle ensures that the business's financial position and performance are accurately represented.
2. The situation aligns with the Revenue Recognition Principle, which states that revenue should be recorded when products or services are delivered to customers and the amount is determinable. This principle ensures that revenue is recognized in the appropriate period when it is earned.
3. The situation corresponds to the Cost Principle, which states that financial information should be based on the actual costs incurred in transactions. This principle requires assets to be recorded at their historical cost, ensuring objectivity and reliability in financial reporting.
4. The situation reflects the Full Disclosure Principle, which states that financial statements should include all necessary information and any additional details that could impact users' decisions. Such information is typically disclosed in the footnotes to the financial statements.
The situation aligns with the Matching Principle, which states that expenses should be recorded in the same period as the revenues they help generate. This principle ensures that the expenses incurred to generate revenue are properly recognized, allowing for accurate determination of net income.
The situation corresponds to the Time Period Assumption, which assumes that the life of a company can be divided into specific time periods (e.g., monthly, quarterly, or annually). This assumption allows for the preparation of useful financial reports that cover these time periods, facilitating analysis, comparison, and decision-making.
Learn more about Separate Entity Principle here: https://brainly.com/question/28437186
#SPJ11
In a synodic month, the Moon goes around the Earth, to the nearest integer, (blank), degrees, returning it to the same place relative to the
Answers
In a synodic month, the Moon goes around the Earth, to the nearest integer, 360 degrees, returning it to the same place relative to the Earth.
A synodic month is the time taken for a celestial body, such as the Moon, to return to the same phase (or synodic position) when viewed from the Earth.
A synodic month is the time taken for the Moon to return to the same place in the sky relative to the Sun as viewed from the Earth.
Learn more about synodic month on the given link:
https://brainly.in/question/14422076
#SPJ11
one of the three principles that characterize total quality management (tqm) is _____.
Answers
One of the three principles that characterize total quality management (tqm) is continuous improvement.
One of the three principles that characterize total quality management (TQM) is continuous improvement. This principle emphasizes that organizations should constantly strive to improve their processes, products, and services.
It involves a commitment to continuously evaluate and refine processes and procedures to ensure they are effective and efficient.
Continuous improvement is not a one-time activity, but rather an ongoing process that involves all employees at all levels of the organization.
It requires a culture of continuous learning, where employees are encouraged to identify areas for improvement and to propose solutions.
Continuous improvement is essential for organizations to remain competitive in today's rapidly changing business environment.
It helps organizations to increase productivity, reduce costs, improve customer satisfaction, and stay ahead of the competition.
To implement continuous improvement, organizations must establish clear goals and metrics to measure progress. They must also provide employees with the tools and resources needed to identify and implement improvements.
Additionally, organizations must foster a culture of collaboration and innovation, where employees are encouraged to share ideas and work together to drive improvement.
For more such questions on continuous improvement
https://brainly.com/question/31439119
#SPJ11
shareholders equity is split between which of the following after profit is made
A. Debt and retrained earnings
B. shareholders capital and retrained earnings
C. shareholders capital and debt
B. Accounts payable and dept
Answers
Answer:
B
Explanation:
The correct answer is B. Shareholders' equity is split between shareholders' capital and retained earnings after profit is made.
Shareholders' equity represents the residual interest in the assets of a company after deducting its liabilities. When a company earns a profit, it can distribute the earnings to shareholders in the form of dividends or retain them in the company to fund future growth.
The portion of shareholders' equity that represents the amount of money invested by shareholders in the company is called shareholders' capital. Retained earnings, on the other hand, represent the accumulated profits that the company has retained over time.
Therefore, after profit is made, shareholders' equity is split between shareholders' capital and retained earnings.
Answer:
The shareholders' equity is split between shareholders' capital and retained earnings after profit is made. Therefore, the correct option is B. shareholders' capital and retained earnings.
why creative thinking is important in strategic planning and how to encourage it.
Answers
Creative thinking is important in strategic planning because it allows for the exploration of new ideas and perspectives, leading to innovative and effective solutions. Here are some ways to encourage creative thinking in the strategic planning process:
Encourage diverse perspectives: Encourage participation from individuals with different backgrounds, experiences, and perspectives to bring in new ideas.
Create a relaxed environment: Encourage a relaxed and non-judgmental environment where everyone feels comfortable sharing their thoughts and ideas.
Use visual aids: Use visual aids like mind maps, whiteboards, and sticky notes to help generate and organize new ideas.
Set aside dedicated time: Set aside dedicated time for creative thinking during the planning process to allow participants to fully focus on generating new ideas.
Challenge assumptions: Encourage participants to question existing assumptions and think outside of the box to identify new and innovative solutions.
Encourage brainstorming: Encourage group brainstorming sessions to generate a large number of ideas and build on each other's thoughts.
Foster a growth mindset: Encourage a growth mindset where failures are seen as opportunities to learn and improve, rather than setbacks.
By creating a supportive environment that fosters diversity of thought, open communication, experimentation, and collaboration, individuals and organizations can encourage creative thinking and drive success through the strategic planning process.
Creative thinking is a crucial aspect of strategic planning, as it allows individuals and organizations to generate new ideas, consider different perspectives, and find innovative solutions to problems.
In order to be effective, strategic planning requires individuals to think outside the box, challenge assumptions, and embrace ambiguity.
Encouraging creative thinking during the strategic planning process is essential to ensure that the plans developed are fresh, impactful, and adaptable to a rapidly changing environment.
To encourage creative thinking during strategic planning, it is important to create a supportive environment that fosters open communication, experimentation, and collaboration. This can be achieved through the following steps:
Encourage diversity of thought: A diverse group of individuals with different backgrounds, experiences, and perspectives can bring new ideas and approaches to the strategic planning process. Encouraging different perspectives can lead to more creative solutions.
Promote an open and non-judgmental atmosphere: Encourage team members to express their thoughts freely, and foster an environment where new and unconventional ideas are valued.
Provide time and resources: Strategic planning may include dedicated time for brainstorming and idea generation, access to relevant data and information, and the tools and technology needed to bring ideas to life.
Encourage experimentation and risk-taking: Creative thinking often involves taking risks and trying new things. Encourage team members to experiment with new approaches and embrace failure as a learning opportunity.
For more about strategic planning:
https://brainly.com/question/28332092
#SPJ11
purchasing and engineering personnel visit suppliers to assess their facilities, capacity, and quality control during which stage in the organizational buying process?
Answers
At the alternative evaluation stage of the organizational buying process, purchasing and engineering staff would visit potential suppliers to evaluate their quality control.
What is the organizational purchase process?The method by which industrial purchasers choose their purchases is referred to as the organizational buying process. Every corporation must buy products and services to maintain its operations, which necessitates a difficult problem-solving and decision-making process. These inputs and outputs within organizations can be as diverse as the resources, information, and personnel.
Processes like new product creation, order fulfillment, and customer support are typical examples. There are two distinct groups of organizational purchasers. These are government, industrial, and reseller. Straight repurchase, modified repurchase, and new tasks are examples of common purchasing scenarios. The simplest scenario is a "straight rebuy," in which an organization just orders the same product or service.
To learn more about organizational buying process, visit:
https://brainly.com/question/30430318
#SPJ1
What is an example of a general safety hazard?
poorly maintained equipment
contaminated water
blizzard
employee retaliation
Answers
Answer:
poorly maintained equipment
Answer:
contaminated water
Explanation:
if the water doesnt get boiled it will make you sick, contaminated water can make you sick easily so its a safety hazard
Which is an example of a small business showing social responsibility to individuals within the company?
A. starting an office recycling program
B. developing sustainable business practice
C. donating money to local organizations
D. allowing employees to work from home
Answers
Starting an office recycling program, developing sustainable business practice and donating money to local organizations are examples of a small business showing social responsibility to individuals within the company.
Company have a social responsibility to the communities in which they operate. This includes ensuring that they are good corporate citizens, providing support for local causes and charities, and protecting the environment.
Sustainable business is a term that is often used to describe businesses that are environmentally friendly or that have a positive social impact.
Hence, the correct options are "A, B & C".
To know more about social responsibility, click here.
https://brainly.com/question/24176816
#SPJ1