Answers
Answer:
If top management submitted a budget for a project without consulting the business unit or department to be involved in the project, there could be several negative consequences:
1. Lack of buy-in: If the business unit or department is not consulted and involved in the budgeting process, they may feel less invested in the project and less committed to its success. This lack of buy-in could lead to resistance or reluctance to execute the project plan.
2. Inaccurate budget: Without input from the business unit or department, the budget may not accurately reflect the resources needed to complete the project. This could lead to underestimation of costs, delays, and potential failure of the project.
3. Misaligned priorities: The business unit or department may have different priorities and goals than top management. Without consulting them, the budget may not align with their priorities and may not be seen as a priority by the business unit or department.
4. Communication breakdown: If top management does not involve the business unit or department in the budgeting process, it could lead to a breakdown in communication and a lack of trust between the two groups. This could hinder collaboration and cooperation on future projects.
Overall, it is important for top management to involve the relevant business unit or department in the budgeting process to ensure accurate budgeting, alignment of priorities, and buy-in from all stakeholders.
Answer:
If top management submitted a budget for a project without consulting the business unit or department to be involved in the project, there could be several negative consequences, including:
Lack of buy-in and support from the business unit or department: If the budget is submitted without involving the business unit or department, they may feel left out and not fully bought into the project. This lack of support could lead to the project being delayed or even cancelled.Poor project design and implementation: Without input from the business unit or department, the project may not be designed or implemented in the most effective way. This could lead to inefficiencies, increased costs, and delays.Inaccurate budget estimates: Top management may not have a complete understanding of the resource requirements for the project, resulting in budget estimates that are inaccurate or unrealistic. This can lead to underfunding of the project, which may cause delays or even failure.Resistance and pushback from employees: Employees in the business unit or department may feel that their views and opinions were ignored, leading to resistance and pushback against the project. This could create a negative work environment and even impact employee morale and productivity.In summary, it is important for top management to involve the business unit or department in the budgeting process for a project to ensure that there is buy-in and support, accurate budget estimates, and effective project design and implementation.
Related Questions
Companies use lots of different strategies to market their products. Many companies have found that supporting relevant charities is one way to do this. Some companies, for example, pledge to donate proceeds to cancer research. But what if the companies in question only donate 1% of their proceeds? Is it still ethical for them to take credit for supporting a charity if they are donating just pennies of each purchase? Consumer dollars may be better spent donating directly to the charity in question, instead of buying the product. What do you think? Are these companies exploiting a disease for profit, or simply using a smart marketing strategy?
please help!
Answers
Supporting relevant charities is a strategic way for companies to market their products.
If the companies in question donate only 1% of their profits, this is not an unethical attitude, as companies are profitable entities, and charity is a way of:
Demonstrate social responsibility to your stakeholders.Another issue is that regardless of whether the company donates part of its profits to a charity, people will continue to consume its products and services.
Through the marketing behind organizational charity, the consumer's perception of the company will increase and generate more sales, and consequently more help to an institution.
Social responsibility in a company generates:
ValueLoyaltyPositioningprofitabilityTherefore it is considered a smart marketing strategy.
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A popular application of the__________, which is a major business-to-business (B2B) e-commerce model, is e-procurement.
Answers
Answer:
seller-side marketplace model
Explanation:
B2B (business-to-business) is a marketing strategy that deals with meeting the needs of other businesses, by selling products or services to the organizations for resale to other consumers, used in production of goods or for the operation of an organisation.
B2B (business-to-business) model focuses on facilitating sales transactions between businesses.
Under the B2B, the producer sells its products directly to other businesses such as wholesalers or retailers and not the end consumers.
A seller-side marketplace model is a type of business transaction that involves selling goods to the customers of an organization.
One of popular application of the seller-side marketplace model, which is a major business-to-business (B2B) e-commerce model, is e-procurement of goods through the use of internet which eliminates the option of physical buying or procurement.
Given
Principal = $11,500,
Interest Rate = 10%
Time = 240 days (use ordinary interest)
Partial payments:
On 100th day, $6,000
On 180th day, $3,500
a. Use the U.S. Rule to solve for total interest cost. (Use 360 days a year. Do not round intermediate calculations. Round your answer to the nearest cent.)
b. Use the U.S. Rule to solve for balances. (Use 360 days a year. Do not round intermediate calculations. Round your answers to the nearest cent.)
c. Use the U.S. Rule to solve for final payment. (Use 360 days a year. Do not round intermediate calculations. Round your answer to the nearest cent.)
Answers
Total interest=$489.58
Balance after 100th day=$5,819.44
Balance after 180th day=$2,448.77
Final payment=$2,489.58
Compute the total interest, the balances on the 100th and 180th days as well as the final payment of the loan?
In the first place, ordinary interest means simple interest, in other words, the simple interest approach would be used in computing the interest due at every point in time.
Interest=loan balance*interest rate*number of days that interest is due/360 days
Interest on 100th day=$11,500*10%*100/360
Interest on 100th day=$319.444444
balance after 100th day=initial principal+ interest-partial payment
balance after 100th day=$11,500+$319.444444 -$6,000
balance after 100th day=$5,819.444444
Note it has been 80 days since the payment of the last interest on 100th
interest on 180th day=$5819.444444 *10%*80/360
interest on 180th day=$129.320988
balance of the loan on the 180th day=$5,819.444444+$129.320988-$3,500
balance of the loan on the 180th day=$2,448.765432
The final payment would be the balance as of the 180th day plus the interest for the last 60 days(180th-240th)
final interest=$2,448.765432*10%*60/360
final interest =$40.812757
Final payment=$2,448.765432+$40.812757
Final payment=$2,489.58
Total interest=$319.444444+$129.320988+$40.812757
Total interest=$489.58
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Choose the preferred sentence from each pair and justify your choice.
a. (1) Lindsay’s request to telecommute was denied, but she will begin a flextime schedule in two weeks.
(2) Although her request to telecommute was denied, Lindsay will begin a flextime schedule in two weeks.
Answers
Answer:
(2)
Explanation:
"Although" Implies that even though her request was denied, she will begin something else in two weeks. "But" makes it sound like a negative thing, even though it isn't
Natalie had a very busy December. At the end of the month, after journalizing and posting the December transactions and adjusting entries, Natalie prepared the following adjusted trial balance.
COOKIE CREATIONS
Adjusted Trial Balance
December 31, 2021
Debit
Credit
Cash
$1,230
Accounts Receivable
910
Supplies
360
Prepaid Insurance
1,260
Equipment
1,200
Accumulated Depreciation—Equipment
$40
Accounts Payable
80
Salaries and Wages Payable
58
Interest Payable
15
Unearned Service Revenue
310
Notes Payable
2,100
Owner’s Capital
830
Owner’s Drawings
520
Service Revenue
4,623
Salaries and Wages Expense
1,046
Utilities Expense
130
Advertising Expense
170
Supplies Expense
1,065
Depreciation Expense
40
Insurance Expense
110
Interest Expense
15
$8,056
$8,056
Using the information in the adjusted trial balance, do the following.
(a1)
Prepare an income statement for the 2 months ended December 31, 2021. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).)
COOKIE CREATIONS
Income Statement
choose the accounting period
select an opening name for section one
enter an income statement item
$enter a dollar amount
select an opening name for section two
enter an income statement item
$enter a dollar amount
enter an income statement item
enter a dollar amount
enter an income statement item
enter a dollar amount
enter an income statement item
enter a dollar amount
enter an income statement item
enter a dollar amount
enter an income statement item
enter a dollar amount
enter an income statement item
enter a dollar amount
select a closing name for section two
enter a total amount for section two
select a closing name for this statement
$enter a total net income or loss amount
eTextbook and MediaAssistance Used
eTextbook 1
eTextbook 2
List of Accounts
Attempts: 0 of 3 used
(a2)
(a3)
(b)
(c)
Answers
The income statement for the 2 months ended December 31, 2021 is $2,047.
Income statementRevenue:
Service revenue (A) 4,623
Operating expenses:
Add: Salaries and wages expense 1,046
Add: Utilities expense 130
Add: Advertising expense 170
Add: Supplies expense 1,065
Add: Depreciation expense 40
Add: Insurance expense 110
Total operating expenses (B) 2,561
Operating income (C = A - B) 2,062
(4,623-2,561)
Less: Interest expense 15
Net income $2,047
Inconclusion the income statement for the 2 months ended December 31, 2021 is $2,047.
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Let's says prices on average increase 6 percent each year. The State of Oregon allows rents to increase 7 percent each year (in nominal terms). Is the law allowing the rent to increase each year in real terms?
Question 10 options:
a)
Yes
b)
No
c)
Neither in nominal nor real terms
Answers
Answer:
a) Yes
Explanation:
An increase in real terms is when the real percentage increase in rent is a number greater than zero. The real rate is determined by subtracting the inflation rate from the nominal rate of interest.
Inflation refers to an increase in prices in the economy. If prices are increasing by 6 percent, the inflation rate is also 6 percent. The nominal rate of interest is the quoted rate. In this case, it is 7 percent.
The real rate of interest will be 7% - 6% = 1%.
Rent is increasing by a real rate of 1 percent per year.
(Figure: Payoff Matrix I for Blue Spring and Purple Rain) The figure Payoff Matrix I for Blue Spring and Purple Rain refers to two producers of bottled water. Each has two strategies available to it: a high price and a low price. The dominant strategy for Purple Rain is to:
Answers
The figure Payoff Matrix I for Blue Spring and Purple Rain refers to two producers of bottled water. Each has two strategies available to it: a high price and a low price. The dominant strategy for Purple Rain is to: always charge a low price.
What is a Payoff Matrix?Generally, In the field of game theory, a description of a game is referred to as normal form. In contrast to extended form, normal-form representations are not graphics in and of themselves; rather, they use matrices to depict the game in question.
The outcomes of the decisions made by players in a game may be represented using something called a reward matrix.
The structure of a game, such as whether players take in turns to do actions or if a player must make a decision without knowing what option the other player will make, is not conveyed by a payout matrix. Components that make into a payoff matrix.
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One disadvantage to terrorists of using radiological materials in weapons is: Select one: a. numerous difficult steps to assemble device. b. economic impact on affected areas. c. lethal effects depending on type of radiation source. d. the majority of jurisdictions within the United States are unprepared for any type of large incident involving radiological material.
Answers
Answer: a. numerous difficult steps to assemble device.
Explanation:
Radiological materials are quite cumbersome to assemble and require rare materials whose sale are intensely watched by various intelligence agencies in the world. Coupled with that is the need for very skilled scientists in order to assemble the device.
All these hurdles make it so that terrorists are not able to assemble radiological devices easily which is a good thing because if they could, it would have been used to devastating effect on many parts of the world by now.
Econo Nation started 2015 with no national budget debt or surplus. By the end of 2015, it had a budget surplus of $304 million; in 2016, it had a budget deficit of $452 million; in 2017, it had a budget surplus of $109 million; and the amount of its budget deficit or surplus in 2018 is unknown. If at the end of 2018 Econo Nation’s national debt totaled $50 million, determine the deficit or surplus in 2018.
Answers
Answer:
$11 million
Explanation:
Calculation to determine the deficit or surplus in 2018.
First step is to calculate the national budget debt using this formula
National budget debt= Budget surplus in 2008 + budget deficit in 2009 + budget surplus in 2010
Let plug in the formula
National budget debt= $304 million - $452 million + $109 million
National budget debt= - $39 million
Now let calculate the the deficit or surplus in 2018 using this formula
Deficit or surplus= National budget debt + national debt
Let plug in the formula
Deficit or surplus= -$39 million + $50 million
Deficit or surplus= $11 million
Therefore the deficit or surplus in 2018 is $11 million
Which type of business is owned by anyone who wants to buy stock?
sole proprietorship
limited partnership
public corporation
private corporation
(I think the answer is public corporation)
Answers
The type of business owned by someone who wants to buy stock is C. public corporation.
What is a public corporation ?A public corporation is a type of business organization that is owned by shareholders who can buy and sell stocks in the company. When a person buys stock in a public corporation, they become a part owner of the company and have a financial stake in its success.
Public corporations are usually large, well-established companies that have gone through the process of an initial public offering (IPO) to raise funds by selling shares of ownership to the public.
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Answer: public corporation
Explanation:
The following materials standards have been established for a particular product: Standard labor- hour per unit of output 3.3 hours Standard labor rate $16.15 per hour The following data pertain to operations concerning the product for the last month: Actual hours worked 6,300 hours Actual total labor cost $103,635 Actual output 2,000 units What is the labor rate variance for the month
Answers
Answer:
The labor rate variance for the month = $1890
Explanation:
Given values:
Standard labor hour per unit = 3.3 hours
Standard labor rate = $16.15 per hour
Actual hours worked = 6,300
Actual total labor cost = $103,635
Actual output = 2,000 units
Now, we calculate the labor rate variance with the help of given information. Below is the calculation of Labor rate variance.
Labor rate variance = ( Actual labor cost) – (Standard rate × Actual hours)
= 103635 – (16.15 × 6,300)
= $1890
ACTIVITY 2 Consider the department that you work in. Write down the learning materials that you use regularly (for instance, this could include policy documents and guidelines and instruction manuals). Discuss how these materials are managed and who is responsible for this management?
Answers
My go-to reference books for learning include management of Manuals, syllabi; slides from classes, internet videos, resources, and tutorials online
The lecturer and/or a school manager are normally in charge of managing these resources by management. They may occasionally be run by a divisional or school librarian. It is an obligation of every professor to update and care for the learning resources in accordance with their own standards and instructions, which are normally provided for students to access and use. This will have various documents to take in with the purpose of management.
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Which belief best reflects the economic theories of Karl Marx?
A. Government intervention only weakens economies.
B. Class tensions will lead to the end of market economies.
C. The greatest problem facing the world is overpopulation.
D. Countries require precious metals like gold to be truly wealthy.
Answers
Answer:
B. Class tensions will lead to the end of market economies.
Explanation:
According to the Marxists theory, the tension between the capitalist and the working class gives birth to the class conflict in the society. It is tension that is created as the result of the exploitation and conflict between the two. This conflict further would initiate a revolution among the working class that would turn the capitalist class upside down. The exploitation faced by the working class by the capitalists is the major force that would turn them to be rebellious.
Bob Burgers allocates manufacturing overhead to jobs based on direct labor hours. The company has the following estimated costs for the upcoming year:
Direct materials used 50,000
Direct Labor costs 70,400
Wages of factory janitors 39,500
Sales supervisor salary 51,500
Utilities for factory 16,100
Rent on factory building 13,800
Advertising expense 5,830
The company estimates that direct labor hours will be worked in the upcoming year, while machine hours will be used during the year. The predetermined manufacturing overhead rate per direct labor hour will be:________
a. $154 46
b. $1869
c. $7921
d. $43.38
Answers
The company has the following estimated costs for the upcoming year: Direct materials used $50,800 Direct labor costs $70,000 Wages of factory janitors $39,500 Sales supervisor salary $51,600 Utilities for factory $16,100 Rent on factory building $13,200 Advertising expense $5130 The company estimates that 1420 direct ...Bob Burgers allocates manufacturing overhead to jobs based on direct labor hours. The company has the following estimated costs for the upcoming year: Direct materials used $50,800 Direct labor costs $70,000 Wages of factory janitors $39,500 Sales supervisor salary $51,600 Utilities for factory $16,100 Rent on factory building $13,200 Advertising expense $5130 The company estimates that 1420 direct labor hours will be worked in the upcoming year, while 1400 machine hours will be used during the year. The predetermined manufacturing overhead rate per direct labor hour will be (Round your answer to the nearest cent.)
Volunteer Corporation reported taxable income of $490,000 from operations this year. The company paid federal income taxes of $102,900 on this taxable income. During the year, the company made a distribution of land to its sole shareholder, Rocky Topp. The land’s fair market value was $120,500 and its tax and E&P basis to Volunteer was $55,500. Rocky assumed a mortgage attached to the land of $24,100. The company had accumulated E&P of $934,000 at the beginning of the year.
a. Compute Volunteer’s taxable income and federal income tax.
b. Compute Volunteer's current E&P before the distribution.
c. Compute Volunteer’s accumulated E&P at the beginning of next year.
d. What amount of dividend income does Rocky report as a result of the distribution?
e. What is Rocky’s income tax basis in the land received from Volunteer?
Answers
From the information given,
Federal Income Tax = $138,750 Current E& P for the year = $ 416,250Accumulated E&P at the beginning of the next year = $ 1,253,850Rocky’s Dividend Income Reported = $ 96,400Rocky’s Income Tax basis = $ 120,500The calculations are given as followsFederal Income Tax:
Taxable income from operations $490,000
Add: Gain on the distribution of land
($120,500 - 55,500) = 65,000
Total taxable income $555,000
Federal Income Tax ($555,000 * 25%) = $138,750
Volunteers current E&P
Taxable income $555,000
Subtract: Federal Income Tax $138,750
Adjustment for gain on distribution Of land $ 0
Current E&P before distribution $416,250
Volunteers E&P at the beginning of Next Year
Current E&P $ 416,250
Subtract: Fair market value of land distributed
in the previous year $120,500
Add: Mortgage assumed by rocky $24,100
CE &P after distribution $319,850
Accumulated E&P, beginning of current Year $934,000
Accumulated E&P, beginning of Nex Year $1,253,850
Rocky reports a dividend income given as:
Fair Market Value of Land (-) Liability
That is: 120,500 - $24,100
Dividend income = $ 96,400
($124,500) income tax basis in the land equals its fair market value
Income Tax basis = Fair Market Value of Land = $ 120,500
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________ look at each budget as if it were brand new and require managers to justify each of the budgeted items. This process ensures that budgets are closely tied to the latest organizational goals.
Answers
How teachers apply stenhouse theory
Answers
Answer:
In curriculum, a vision of knowledge, the role of the educator and a concept of the process of education are all present. In this sense, Stenhouse suggests that the role of teachers and professors is fundamental in the elaboration and implementation of curriculum.
Briana Foods Inc., a manufacturer and distributor of grocery products, uses online recruiting for sales personnel.On its Website, Briana says, "A sales representative is required to distribute, sell, and promote Briana products.He or she should be the primary link with retail customers and consumers, execute company promotions, meet inventory needs, and monitor the competition within their region.A representativespends most of the worktime communicating with the customer to create a win-win solution." Which of the following goals of recruiting is Briana trying to meet in the given scenario?
A) Ensuring that applicants are qualified
B) Exaggerating the job description to attract the best talent
C) Providing an honest assessment of the job
D) Generating fine distinctions between applicants
E) Keeping the applicant pool at a reasonable size
Answers
Answer:
C) Providing an honest assessment of the job
Explanation:
In the given scenario the online recruitment process begins with a detailed job description of the sales representative position.
A job description is a statement of the requirements of a job role and also indicates key success steps on the job
Briana states that - A sales representative is required to distribute, sell, and promote Briana products.He or she should be the primary link with retail customers and consumers, execute company promotions, meet inventory needs, and monitor the competition within their region.A representativespends most of the worktime communicating with the customer to create a win-win solution.
This provides the applicants with a honest assessment of the job so they will know what to expect should they be successful
Lilly would like to start investing. What tools and services can she benefit from?
Answers
Answer:
stocks, mutual funds, retirement investments
Explanation:
Substitute, compliments, or unrelated?
Answers
Substitute Goods refers to the goods which can be used in place of one every other to fulfill a precise want. Complementary Goods refers to those goods which are consumed together to fulfill a specific want.
How do you recognize if its complement or substitute?We determine whether items are complements or substitutes based on pass price elasticity - if the go price elasticity is superb the items are substitutes, and if the pass rate elasticity are negative the items are complements.
What are examples of enhances and substitutes?age of extra of good A requires the use of more correct B. For example, ink jet printer and ink cartridge are complements. Two goods (C and D) are substitutes if the use of extra of properly C replaces the use of proper D. For example, Pepsi Cola and Coca Cola are substitutes.
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what is the main advantage of being a productive worker
Answers
Main advantage of being a productive worker
High levels of productivity often translate into better customer service through public-facing communication and interactions. This is because, when employees are working well, they are undertaking the right activities to provide a holistic and fulfilling experience for each customer.
Processes go more easily and there is a lot less danger that your clients will be forgotten or overlooked when team members are coordinated.
These clients will therefore be happier and more devoted to your business. Additionally, they are typically more prone to inform others. The information for this was obtained in a recent Forbes article titled How Happy Employees Make Happy Customers. If you take care of your staff, they will take care of your clients, even the inspiring entrepreneur Richard Branson asserts.
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This activity is focused on understanding what international business is, why and how it differs from domestic business, why it is important, and its historical development. International business is a broad and potentially complex field of study and practice. There are many different definitions and concepts that are critical to this field, and this activity will emphasize several of the most critical ones that are used throughout the text. Understanding these terms and concepts will help students, managers and policy makers to better understand what international business is, how it differs from domestic business, why it is becoming increasingly important, and how international business has evolved throughout history.
Answers
Answer:
ang haba naman po
Explanation:
kaya niyo na iyan hehe
This activity is focused on understanding what international business is international business refers to the commercial activities that involve transactions across borders including the exchange of goods, services, capital and knowledge between countries.
It differs from domestic business due to factors like currency fluctuations, legal systems, cultural variations and geopolitical risks. Its importance has grown as globalization fosters interconnected economies and expanded markets.
The critical concepts include foreign direct investment, multinational corporations, global supply chains, international trade agreements and cultural sensitivity.
For understanding these terms allows students, managers and policy makers for the complexities of operating in a globalized world, navigate international markets and make informed decisions.
The historical development of international business reflects the evolution of trade, technology and geopolitical relations shaping today's interconnected global economy.
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Critical Thinking
7. Classify Identify the factor of pro-
duction represented by each of the
following: (a) fishing waters, (b) an
office building, (c) clerks in a store,
(d) a tractor, (e) a student in a cook-
ing school. Explain.
Quic
10. Loo
Wo
list
ar
n
8. Infer If companies can become
more productive by increasing their
physical capital, why would a com-
pany not buy up-to-date computers
for all employees each year?
9. Apply Think of a good or service
that you consumed today. List at
least five factors of production used
to produce that good or service.
Include at least one example each of
land, labor, and capital.
Answers
7. The production factor are, (a) fishing waters Land, (b) an office building Capital, (c) clerks in a store Labor, (d) a tractor Capital, (e) a student in a cooking school Entrepreneurship.
What is factor of production?There are four factors of production namely, land, labor, capital and entrepreneurship.
8. Infer If companies can become more productive by increasing their
physical capital, why would a company not buy up-to-date computers
for all employees each year?
Companies can become more productive if they keep their assets up to date, but the assets have a specific life and can be used up to it. The assets must be utilized for its specific life to minimize the expenses and maximize the profit.
9. Apply Think of a good or service that you consumed today. List at
least five factors of production used to produce that good or service.
Include at least one example each of land, labor, and capital.
I consumed food today this included more than five factors of production, the food was cooked by a chef this is labor, the food was cooked in a kitchen that was the land, the food was served in a restaurant that is the entrepreneurship and the food was prepared by mixing many ingredients for example, rice, meat and spices this make the capital.
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On average, our representatives enroll one customer every 3 hours, while top performers make one sale per hour. How would you plan your workweek to maximize your earnings?*
Answers
Plan your workweek to maximize your earnings Identify peak sales hours, Set ambitious goals, Allocate more time during high-performance hours, Continuous improvement, Efficient time management, Develop strong customer relationships, and Continuous learning.
To maximize earnings in this scenario, it is important to strategically plan the workweek and focus on increasing the number of customer enrollments. Here is a potential plan to maximize earnings:
1. Identify peak sales hours: Analyze the data and determine the hours or time slots when sales are most likely to occur. This could be based on historical data or observations of customer behavior. Allocate more time during these peak hours to capitalize on potential sales opportunities.
2. Set ambitious goals: Aim to achieve or exceed the performance of top performers by setting ambitious sales goals. This mindset will drive motivation and focus throughout the workweek.
3. Allocate more time during high-performance hours: Dedicate a larger portion of the workweek to the hours when top performers make one sale per hour. By increasing the number of hours during these periods, there is a higher likelihood of securing more customer enrollments.
4. Continuous improvement: Regularly analyze and reflect on sales techniques and strategies. Identify areas for improvement and seek ways to refine your approach. This could involve studying successful sales tactics, attending sales training sessions, or seeking feedback from experienced colleagues or mentors.
5. Efficient time management: Optimize time management skills to ensure productivity during working hours. Eliminate distractions, prioritize tasks, and maintain a focused and organized work environment. This will help maximize the number of customer interactions and increase the chances of securing enrollments.
6. Develop strong customer relationships: Emphasize building rapport and establishing strong connections with potential customers. Focus on active listening, understanding their needs, and providing personalized solutions. By developing trust and fostering positive relationships, the likelihood of successful enrollments can increase.
7. Continuous learning: Stay updated on industry trends, product knowledge, and competitor offerings. This will enable you to effectively address customer inquiries, overcome objections, and provide value-added insights during sales interactions.
By implementing these strategies, planning the workweek to prioritize peak sales hours, setting ambitious goals, improving sales techniques, and managing time efficiently, you can increase the likelihood of maximizing earnings by securing a higher number of customer enrollments.
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(5 points)
Willie's Hot Dogs had sales last year of $250,300 and a guest count of 76,079.
Sales this year were $280,750 with a guest count of 83,556.
What was Willie's guest count percentage variance?
Answers
Willie's guest count percentage variance is 9.82%.
How to calculate guest count percentageTo calculate the guest count percentage variance
Use the following formula:
Guest count percentage variance = [(current year guest count - prior year guest count) / prior year guest count] x 100%
Guest count percentage variance = [(83,556 - 76,079) / 76,079] x 100%
Guest count percentage variance = (7,477 / 76,079) x 100%
Guest count percentage variance = 0.0982 x 100%
Guest count percentage variance = 9.82%
Therefore, Willie's guest count percentage variance is 9.82%.
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You are the manager of a firm that charges customers $16 per unit for the first unit purchased, and $12 per unit for each additional unit purchased in excess of one unit. The accompanying graph summarizes your relevant demand and costs.
" A graph summarizes the relevant demand and costs of a firm.""The horizontal axis labeled quantity ranges from 0 to 7 in increments of 1. The vertical axis labeled price ranges from 0 to 20 in increments of 2. A line labeled D begins at the point (0, 18) goes down to the right and ends at the point (6, 6). A horizontal line labeled M C = A C passes through the point (0, 8) and intersects the line D at (5, 8)."
a. What is the economic term for your firm’s pricing strategy?
Second degree price discrimination
Fourth degree price discrimination
First degree price discrimination
Third degree price discrimination
b. Determine the profits you earn from this strategy.
$
c. How much additional profit would you earn if you were able to perfectly price discriminate?
Answers
According to the information, the additional profit earned by perfectly price discriminating would be $14.
What is the economic term for your firm’s pricing strategy?The economic term for the firm's pricing strategy is third degree price discrimination. This is because the firm charges different prices for different customer segments, based on their willingness to pay.
How to determine the profits you earn from this strategy?To determine the profits earned from this strategy, we need to find the quantity at which marginal cost equals marginal revenue. From the graph, we can see that the marginal cost (MC) is constant and equal to $8. The marginal revenue (MR) is given by the demand curve. At a quantity of 1, the MR is $16, and for each additional unit, the MR is $12. So, we can set MC = MR to find the profit-maximizing quantity:
$8 = $16 for the first unit
$8 = $12 for the additional units
Solving these equations, we get the profit-maximizing quantity to be 5 units.
To find the profit earned, we need to calculate the total revenue and total cost at this quantity. The total revenue is the sum of the price charged for each unit sold, which is $16 for the first unit and $12 for each additional unit:
Total revenue = (1 x $16) + (4 x $12) = $64
The total cost is the sum of the fixed cost and variable cost, which is given by the area under the MC curve up to the profit-maximizing quantity:
Total cost = $8 x 5 = $40
Therefore, the profit earned from this pricing strategy is:
Profit = Total revenue - Total cost = $64 - $40 = $24
How much additional profit would you earn if you were able to perfectly price discriminate?If the firm were able to perfectly price discriminate, it would charge each customer the maximum price they are willing to pay for each unit, resulting in higher profits. In this case, the firm's demand curve would be the same as the marginal revenue curve, and the profit-maximizing quantity would be where marginal cost equals the maximum price the customer is willing to pay for that unit.
From the graph, we can see that the maximum price a customer is willing to pay for the first unit is $18, and for each additional unit, it decreases by $2. So, the profit-maximizing quantity for each customer segment would be:
For customers willing to pay $18 per unit: MC = $8 = $18, so 1 unit is sold
For customers willing to pay $16 per unit: MC = $8 = $16, so 2 units are sold
For customers willing to pay $14 per unit: MC = $8 = $14, so 3 units are sold
For customers willing to pay $12 per unit: MC = $8 = $12, so 4 units are sold
For customers willing to pay $10 per unit: MC = $8, so 5 units are sold
For customers willing to pay $8 per unit: MC = $8, so 6 units are sold
For customers willing to pay less than $8 per unit: no units are sold
The total revenue earned would be:
Total revenue = (1 x $18) + (1 x $16) + (1 x $14) + (1 x $12) + (1 x $10) + (1 x $8) = $78
The total cost would still be the same as before, $40. Therefore, the additional profit earned by perfectly price discriminating would be:
Additional profit = Total revenue - Total cost - Profit from original pricing strategy
= $78 - $40 - $24
= $14
So, the additional profit earned by perfectly price discriminating would be $14.
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Who is sign a contract for the sale of real estate means to what?
Answers
Trait-based evaluations are useful for understanding employees, but they do not
allow organizations to predict or review an employee's
Answers
Trait-primarily evaluations critiques are useful for understanding employees, but they do now not allow agencies to predict or assess a worker's: Seniority.
Evaluation is a scientific determination and evaluation of a subject's benefit, worth and significance, the use of criteria ruled by means of hard and fast standards. evaluation offers a scientific method to observe an application, practice, intervention, or initiative to understand how nicely it achieves its desires. critiques assist determine what works well and what could be advanced in software or initiative.
To evaluate is described as deciding the cost or really worth of someone or something. An example of assessment is whilst a teacher reviews a paper with the purpose to supply it with a grade. (math.)it's far had to make certain whether or not goals and dreams being hooked up are carried out or no longer. it's far needed to ensure that company is adapting to new environments, converting generation, and even adjustments in other outside variables which will correctly utilize are had sources.
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A city block has several different clothing stores that offer a variety of options
to shoppers. What kind of market structure most closely describes this
situation?
A. Monopoly
B. Oligopoly
C. Monopolistic competition
D. Pure competition
Answers
Answer:
C. Monopolistic competition
Explanation:
Monopolistic competition describes a type of market structure with many firms competing, but each sells a slightly different product. In this case, there are several stores offering a variety of products to customers. This implies competition among sellers and differentiated products. Other features that identify a monopolistic competition include
A large number of buyers and sellers:There are no restrictions to entry and exit of Firms:sellers have differentiated Products Each firm can set its price.Answer:
Monopolistic competition
Explanation:
ape.x
Which one of these is the best way to prevent foreclosure?
1. Save at least 1% of your home's purchase price annually.
2. Refinance as soon as possible
3. Use a budget to live within your means and build savings
4. Never accept an adjustable-rate mortgage
Answers
Answer:
3. Use a budget to live within your means and build savings
This is always the best option to prevent financial problems like a foreclosure. Budgeting your expenses according to your income, and building savings should prevent any person from defaulting on his or her mortgage payments.
However, in less ideal situations, if a foreclosure can be reasonably projected in the future, the best option to prevent it is to 2. Refinance as soon as possible