The relative merits of different methods of corporate growth depend on the specific goals and circumstances of a company. Internal development allows for control and gradual expansion, while M&A offers rapid growth and access to new markets. Strategic alliances provide opportunities for leveraging strengths and sharing resources.
Different methods of corporate growth, including internal development, mergers and acquisitions (M&A), and strategic alliances, each have their own merits depending on the specific goals and circumstances of a company. Internal development allows for organic growth and maintaining control over the company's operations, while M&A can provide rapid expansion and access to new markets or technologies. Strategic alliances enable companies to leverage the strengths of multiple entities while sharing risks and resources. Examples from various industries highlight the effectiveness of these methods in achieving growth and success. When considering methods of corporate growth, internal development offers several advantages. By focusing on organic growth, companies have the ability to maintain control over their operations and culture. This method allows for gradual expansion, giving organizations the opportunity to build capabilities and expertise over time. A well-known example of successful internal development is Apple Inc., which has consistently introduced innovative products and technologies through its in-house research and development efforts. This approach has allowed Apple to maintain its brand identity and control over its ecosystem. On the other hand, mergers and acquisitions (M&A) provide a faster route to growth and expansion. Companies can acquire other firms to gain access to new markets, customers, technologies, or intellectual property. M&A can also lead to economies of scale, synergies, and increased market power. However, it is important to note that M&A transactions can be complex and carry integration risks, requiring careful due diligence and post-merger integration efforts. Strategic alliances are another viable method of corporate growth. By forming partnerships or collaborations, companies can leverage each other's strengths and resources while sharing risks. This approach is particularly useful when entering new markets or pursuing technological advancements. An industry example is the partnership between Nike and Apple, resulting in the creation of the Nike+ platform. This collaboration integrated Nike's athletic footwear and apparel with Apple's technology, offering enhanced fitness tracking and training capabilities. Strategic alliances enable companies to access new customer segments, combine complementary expertise, and reduce costs through shared research and development efforts. In conclusion, the relative merits of different methods of corporate growth depend on the specific goals and circumstances of a company. Internal development allows for control and gradual expansion, while M&A offers rapid growth and access to new markets. Strategic alliances provide opportunities for leveraging strengths and sharing resources. Successful examples from various industries demonstrate the effectiveness of these methods in achieving corporate growth and success.
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ESTIMATING COSTS
ACTIVITY 1- Scenario: Margaret has recently opened up her own
Beauty Salon in Abu Dhabi. She has been operating for the last 6
months as a sole trader.
List Margaret's costs for her business below:
Fast plz
Answer:
Opening your own hair salon is a milestone for any hairdresser. You may be wanting to open a salon so that you are self-employed. You may also be wanting to provide your own clients with services that align with your vision of what a hairdressing experience should be. However, opening a hairdressing salon is a big responsibility, even if you have previous experience in the hairdressing industry.
One of the most important things you will need to consider when planning to open a hairdressing salon is how to structure your business. Your business structure is the legal framework of your business. It has the potential to reduce your exposure to financial risk and enable flexibility for growth. The wrong business structure for a new business may be costly and may not be suited to your business goals. This article considers four popular business structures and their suitability for hairdressing businesses.
1. Sole Trader
If you are starting a hairdressing salon on your own or are wanting to freelance, you may choose to operate as a sole trader. As a sole trader, you will have full control and autonomy of the running your business. This structure is usually relatively easy and cheap to set up. It also has minimal legal formalities.
To set up as a sole trader, you will need an Australian Business Number (ABN). If you intend to trade under your own name, then you don’t need to register a business name. However, if you plan to operate under a different name, you simply need to register a business name with the Australian Securities and Investments Commission (ASIC).
Although it has an easy setup, this structure does come with risk. If any of your clients sue you or you incur any debts, you will be personally responsible. This means that if you can not repay these debts from the funds of the business, you will have the repay the debt from your own personal finances.
Also, as a sole trader, you have limited resources available to fund the growth of your business. You will need to rely on:
personal savings;
loans; and
business profits.
You cannot raise funds from the general public. Being a sole trader may also not be the most tax-effective decision. This is because a sole trader is liable to the same tax rate applicable to individual taxpayers on income earned. You should check this with an accountant or tax lawyer.
2. Partnership
If you plan to open your hairdressing salon with one or more business partners, you may choose to enter into a partnership. Similar to a sole trader, the setup is simple and has minimal upfront costs. You will require an ABN for the partnership and most partnerships also register a business name.
It is also important for the partners to enter into a partnership agreement. This agreement governs the relationship between partners and sets out key terms, which may describe:
how the business will be managed;
how the profits will be shared;
who will fund the partnership;
how you or your partners can sell your share in the business; and
the process for managing disputes.
However, setting up a partnership also comes with risks. Like a sole trader, if someone sues you or you go into debt, your personal assets and finances will be at risk.
Additionally, partnerships involve joint liability. Therefore, you may be personally liable for business debts owed by any of the other partners. The amount owed is not divided proportionally according to your percentage of ownership in the business, so you could be responsible for paying the entire amount.
Like a sole trader, you cannot raise funds from the general public to fund the growth of your business. You will need to rely on:
the savings of each partner;
loans; or
business profits.
However, unlike a sole trader, you can look to bring on more partners to increase the pool of funds available for the business.
3. Company
Whether you are operating your hairdressing salon on your own or with other business partners, you may decide to operate as a company. A company is a separate legal entity. This means it is capable of suing and being sued. It also holds assets in its own name and can enter into contracts in its own name.
There are two key players involved in the management of a company. These are shareholders and directors. As the founder of your business, you will usually be both a shareholder and a director of the company that you establish. Any other business partners may also take on these roles.
hope it helps
a small, privately-owned airline, sandpiper air, shares a small airport with its competitor, aeromass, as well as a café. the customers, taxi drivers, and other townspeople frequently interact with aeromass and the café in addition to sandpiper air. sandpiper air is an example of
Based on the scenario, Sandpiper Air is a good example of Administrative Management.
Administrative Management:
Involves the creation of a formal structure to facilitate an organization's successTries to promote the concept of teamwork and team leadershipSubordinates individual interest to the interest of the group or team.This subordination of interest helps Sandpiper Air and Aeromass to share a small airport, a cafe, the customers, and taxi services.
Administrative Management uses hierarchy to achieve its goals. An Administrative Management system is not a closed system because it receives input and produces output.
Thus, the focus of administrative management is not for the sole ownership of big infrastructure, but it attempts to elicit the cooperation of a wider network to achieve success.
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Assume that 10 years ago you purchased a $1,000 bond for $865. The bond pays 10.70 percent interest and will mature this year. (a) Calculate the current yield on your bond investment at the time of the purchase. (Enter your answer as a percent rounded to 2 decimal places.) Current yield (b) Determine the yield to maturity on your bond investment at the time of purchase. (Enter your answer as a percent rounded to 2 decimal places.) Yield to maturity %
12.36% is the yield to maturity on your bond investment at the time of purchase.
To calculate the current yield, divide the annual interest payment by the bond's purchase price and multiply by 100 to express it as a percentage:
(a) Current yield = (Annual interest payment / Purchase price) * 100
The annual interest payment is 10.70% of the bond's face value, which is $1,000. So, the annual interest payment is $1,000 * 10.70% = $107.
Current yield = ($107 / $865) * 100 = 12.36%
To determine the yield to maturity, we need to consider the bond's purchase price, face value, annual interest payment, and the number of years remaining until maturity.
(b) Since the bond is maturing this year, the number of years remaining until maturity is 0. Therefore, the yield to maturity is equal to the current yield:
Yield to maturity = Current yield = 12.36%
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HELP PLEASE!!!
what is the outcome when a person defaults on a home loan?
A. the person goes to jail.
B. the bank will make the person work a second job.
C.the bank will take the person's car.
D.the bank will foreclose on the home.
Answer:
D.the bank will foreclose on the home.
Explanation:
The bank may even sue and garnish wages and financial accounts. The bank may even serve a conversion of accetts.
Corrie bought a new flat screen 70 inch television and a speaker system from a local electronics store on credit. The store will charge 12% per year compounded monthly. Their monthly payments are $174. 80 for 3 years. What is the cash price of her purchase?.
The cash price of her purchase is $5262.79
Present value=C*[1 - (1+i)^(-n)]/i
C=amount of payment per period
i=interest rate
n=number of payments
In this problem,
C=$174.80
i = 12% per year compounded monthly
= 12/(12*100)
= 0.01
n = 3*12 = 36 months
= Present Value = 174.80*[1 - (1+0.01)^(-36)]/0.01
Cash price = $5262.79
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Risk acceptance is a natural part of driving. Risks are always present, and the compensation involves: Recognizing _____________________ errors. Making appropriate adjustments A driver often makes ________________ decisions in city traffic driving Studies indicate that drivers who do not wear safety belts tend to make more risks while driving than drivers wearing seat belts. Driving behavior is based on risk ___________________ rather than _________________ risk. Factors that drivers cannot control in risk management are: _____________________________________ _____________________________________
Answer:
Balls
Explanation:
Balls
The correct answers for the blanks are as follows:
Recognizing and correcting errors.Split-second decisions.Risk perception rather than actual risk.External conditions such as weather, road conditions, and other drivers' actions.Correcting errors refers to the process of identifying and rectifying mistakes or faults in one's actions or behaviors. In the context of driving, it involves recognizing and addressing any errors or incorrect maneuvers made while operating a vehicle.
This can include correcting improper lane changes, adjusting speed to match road conditions, maintaining proper following distance, signaling turns accurately, and adhering to traffic rules and regulations.
Correcting errors requires attentiveness, self-awareness, and the ability to promptly take corrective actions to ensure safe and responsible driving. It plays a crucial role in mitigating risks and preventing potential accidents or hazards on the road.
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for each definition (or portion of a definition) in the first column, select the term that most closely applies. each term may be used only once or not at all.
Definition (or Portion)
a. Representations by management that are communicated, explicitly or implicitly, i n the financial statements.
b. A description of the nature, timing, and extent of the audit procedures to be performed.
c. An estimate of the time required to perform each step in the audit.
d. The purpose of this document is to avoid misunderstandings between the auditors and the client.
e. The risk of material misstatement of an assertion about an account without considering internal control.
f . At the overall engagement level, this is the risk that the auditors may unknowingly fail to appropriately modify their opinion on financial statements that are materially misstated.
g. An identified risk that requires special audit consideration.
h. A risk that threatens management's ability to achieve the organization 's objectives.
Term
Audit plan
Assertions
Audit risk
Representation letter
Business risk
Control risk
Engagement letter
Inherent risk
Significant risk
Survival risk
Time budget
Representations by management that are communicated, explicitly or implicitly, in the financial statements is Assertions. A description of the nature, timing, and extent of the audit procedures to be performed is Audit plan.
An estimate of the time required to perform each step in the audit is Time budget.
The purpose of this document is to avoid misunderstandings between the auditors and the client is Engagement letter.
The risk of material misstatement of an assertion about an account without considering internal control is Inherent risk.
At the overall engagement level, this is the risk that the auditors may unknowingly fail to appropriately modify their opinion on financial statements that are materially misstated is Audit risk.
An identified risk that requires special audit consideration is Significant risk.
A risk that threatens management's ability to achieve the organization's objectives is Business risk.
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franchises will generally have higher ____, but they offer ongoing support and training.
Franchises will generally have higher direct financing but they offer ongoing support and training.
What is the meaning of financing?Finance is the study and practice of money, money-related instruments, and capital assets. It is associated with economics, which refers to the study of the creation, transfer, and consumption that money, assets, goods, and services, but it is not the same as economics.
The process of raising capital or finances for any type of spending is known as financing. It is the act of directing various financial resources—such as credit, loans, and invested capital—to those parts of the economy that need them most or can use them most effectively.
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T Accounts, Adjusting Entries, Financial Statements, and Closing Entries; optional end-of-period spreadsheet The unadjusted trial balance of La Mesa Laundry at August 31, 20Y5, the end of the fiscal year, follows: La Mesa Laundry Unadjusted Trial Balance August 31, 2015 Cash Laundry Supplies Prepaid Insurance Laundry Equipment Accumulated Depreciation Accounts Payable Bobbi Downey, Capital Bobbi Downey, Drawing Laundry Revenue Wages Expense Rent Expense Utilities Expense Miscellaneous Expense Debit Balances Credit Balances 3,800 9,000 6,000 180,800 2,400 135,800 43,200 16,000 3,000 400,000 49,200 7,800 95,000 248,000 400,000 The data needed to determine year-end adjustments are as follows: a. Wages accrued but not paid at August 31 are $2,200. b. Depreciation of equipment during the year is $8,150. c. Laundry supplies on hand at August 31 are $2,000. d. Insurance premiums expired during the year are $5,300. Required: 1. The beginning account balances from the unadjusted trial balance, as of August 31st, have been entered in the T accounts in part 3 below. The T accounts will be used in parts 3 and 6. 2. (Optional) Enter the unadjusted trial balance on an end-of-period spreadsheet and complete the spreadsheet. 3. Journalize the adjusting entries. Then, post the entries in the T accounts below. Adjustments are identified by "Adj.", the new balances as "Adj. Bal." and closing entries as "Clos." If an amount box does not require an entry, leave it blank.
To properly assist you with journalizing the adjusting entries and posting them to the T accounts, I'll provide a step-by-step explanation of each adjustment and its impact on the accounts. Here are the adjusting entries and their corresponding T accounts:
1. Wages Accrued:
Debit: Wages Expense
Credit: Wages Payable
This adjustment recognizes the wages that have been earned but not yet paid.
2. Depreciation Expense:
Debit: Depreciation Expense
Credit: Accumulated Depreciation
This adjustment records the depreciation of the laundry equipment for the year.
3. Laundry Supplies Used:
Debit: Laundry Supplies Expense
Credit: Laundry Supplies
This adjustment reflects the decrease in the amount of laundry supplies on hand.
4. Insurance Expense:
Debit: Insurance Expense
Credit: Prepaid Insurance
This adjustment recognizes the expiration of insurance premiums during the year.
Now, let's post the adjusting entries to the T accounts:
T Accounts:
.Cash:
(No adjustment required)
Laundry Supplies:
Debit: Beginning to Balance $9,000
Debit: Laundry Supplies Expense $2,000
Credit: Laundry Supplies Used (Adj. Bal.)
Prepaid Insurance:
Debit: Beginning to Balance $6,000
Debit: Insurance Expense $5,300
Credit: Insurance Expired (Adj. Bal.)
.Laundry Equipment:
Debit: Beginning Balance $180,800
Credit: Accumulated Depreciation $8,150
(No closing entry required)
.Accumulated Depreciation:
Debit: Depreciation Expense $8,150
Credit: Laundry Equipment (Adj. Bal.)
.Accounts Payable:
(No adjustment required)
.Bobbi Downey, Capital:
(No adjustment required)
Bobbi Downey, Drawing:
(No adjustment required)
.Laundry Revenue:
(No adjustment required)
Wages Expense:
Debit: Wages Payable (Adj. Bal.)
Debit: Wages Expense (Adj. Bal.)
(No closing entry required)
Rent Expense:
(No adjustment required)
.Utilities Expense:
(No adjustment required)
Miscellaneous Expense:
(No adjustment required)
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A model that shows the trade-offs and opportunity costs of producing an additional unit of a good relative to what must be given up in the production of another good.
Answer:
production possibilities curve (PPC)
Explanation:
The PPC is used to explain the tradeoffs that producers face when having to choose between 2 different alternative products or services. The more they choose of one product, the less they will be able to produce of the other product. Opportunity costs are the associated costs or benefits lost resulting from choosing one activity or investment over another alternative.
What is the definition of a team? What is teamwork? Why is learning to work well with others important in life? What is one issue that hinders you from wanting to work with other people? What is one thing you can change so you can be successful when working in teams?
Answer:
Team work is when every one comes together to do or accomplish something and the definition of team is a group of people that play for the same thing it's important in life because when you get into the real world you will have to work with other people even if you don't like them one issue that hinders you from wanting to work with other people is you don't like those other people one thing you can change so you can be successful when working in teams is try to get along with everyone else on the team.
Every T account has two sides, credit and credit side.
True
False
Answer:
False
Explanation:
The two sides are DEBIT and credit.
Which of the following is a characteristic of economic services:
A) tangible
B) freely available to everyone
C) useful
D) non-transferable
Answer:
useful
Explanation:
i got it from USA test prep
how did simon cowell get famous
Answer:
After some success in the 1980s and 1990s as a record producer, talent scout and consultant in the UK music industry, Cowell came to public prominence in 2001 as a judge on Pop Idol, a show which he and its creator Simon Fuller successfully pitched to ITV Controller of Entertainment Claudia Rosencrantz.
Explanation:
journal entry for depreciation paid
Answer:
Depreciation is a non-cash expense which means that it is not actually paid for. It is however considered an expense which reduces the value of fixed assets as the years go by.
Journal entry for depreciation is:
Date Account title Debit Credit
XX-XX-XXX Depreciation Expense XXXX
Accumulated Depreciation XXXXX
The Depreciation expense for the year is debited to the Depreciation expense account and deducted from income in the income statement.
The amount is then credited to an Accumulated depreciation account which shows total depreciation since the asset was acquired. This goes to the balance sheet and reduces the value of fixed assets.
True or false? A biweekly mortgage results in six extra payments per year.
A biweekly mortgage involves making payments every two weeks instead of once a month. This means that you end up making 26 payments per year, which is equivalent to 13 monthly payments. So the answer is true.
As a result, you end up making six extra payments per year compared to a traditional monthly mortgage payment schedule. These extra payments can help you pay off your mortgage faster and save you thousands of dollars in interest over the life of the loan.
However, it's important to note that not all lenders offer biweekly payment options, and some may charge extra fees for this service. Before choosing a biweekly mortgage, it's important to carefully consider your financial situation and discuss your options with a trusted mortgage lender or financial advisor.
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what is the law of demand and supply
Answer:The law of supply and demand is a theory that explains the interaction between the sellers of a resource and the buyers for that resource. The theory defines what effect the relationship between the availability of a particular product and the desire (or demand) for that product has on its price.
Explanation:
You open a new bank account at Eastside Savings. You see FDIC stickers around the bank, and the teller specifically mentions that Eastside
Savings is "FDIC Insured". A few months later, you hear on the radio that Eastside Savings is struggling to stay in business. Your savings balance
Is $500. What would happen to that money if Eastside Savings failed?
A.You could lose $250 since FDIC Insurance only covers 50% of the money you have deposited.
B.You would lose all of your money.
C.You would receive $250,000 since FDIC Insurance provides each account at the bank with $250,000 regardless of how much they
have deposited
D.You would receive all the money you have deposited at Eastside Savings since FDIC insurance covers accounts up to $250,000.
Answer:
The correct option is D. You would receive all the money you have deposited at Eastside Savings since FDIC insurance covers accounts up to $250,000.
Explanation:
Based on the information given what would happen to that money in a situation where Eastside Savings failed is that such individual would receive all the money he/she have deposited at Eastside Savings reason been that FDIC which is fully known as FEDERAL DEPOSIT INSURANCE CORPORATE insurance covers accounts up to the amount of $250,000 and Secondly Eastside Savings is "FDIC Insured".
when a business pays cash on accounts, and accounts payable account is:
A) Increased by a credit
B) Decreased by a debit
C) increased by a debit
D) Decreased by a credit
Answer:
I think its A
Explanation:
show the vegetable market of nepal in pyramid
Due to massive increases in agriculture and production area over the last two decades, per capita vegetable consumption has increased to 105 kg from 60 kg. Nepal has reported 3,243,521 vegetable holdings. Vegetable crops are grown on a total of 232,295 hectares of cultivable land.
What is market?A market is a collection of systems, institutions, procedures, social relations, or infrastructures through which parties exchange goods and services. While parties can barter for goods and services, most markets rely on sellers offering their goods or services to buyers in exchange for money. The exchange of goods and services that occurs as a result of buyers and sellers coming into contact with one another, either directly or through mediating agents or institutions, is referred to as a market.A market is defined as the total number of buyers and sellers in the area or region under consideration. The area could be the entire planet, a country, a region, a state, or a city.To learn more about market, refer to:
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the type of ownership in which each restaurant is the same in the ownership of each restaurant is the same as known as which of the following?
A. food service cooperation
B. Food service franchise
C. Independent food service operation
D. Food service chain
Answer:
D. Food service chain
Explanation:
In business ownership, a chain of restaurants refers to several restaurants owned by one organization. In other words, in a food service chain, the owner(s) will have many branches located in different locations. Because the restaurant belongs to one entity, they are similar in appearance and operations.
A chain of business is different from a franchise business. In a franchise, the branches are identical but have different owners.
Which of the following would help a hiring manager determine whether a
recruiting resource is effective?
A. Comparing the diversity of internal versus external candidates
B. Comparing retention and turnover results from different recruiting
sources
C. Comparing salaries at multiple corporations
D. Creating job listings on multiple social media sites
9. Suppose you are given the following data on the production or supply of crude oil in the United States. Price is per barrel and quantity supplied is millions of barrels per day.
$P QS
90 12
100 14
a. Calculate the arc price elasticity of supply.
b. Calculate the point price elasticity of supply when the price of crude oil is $100.
c. Does the data likely describe a short-run or a long-run supply of crude oil in the US?
Based on the given data, it is difficult to determine whether it describes a short-run or long-run supply of crude oil in the US. To make this determination, we would need additional information about the time period over which the data was collected and the factors influencing the supply of crude oil.
The arc price elasticity of supply measures the responsiveness of quantity supplied to a change in price over a given price range. To calculate it, we use the formula:
Arc Price Elasticity of Supply = (ΔQS/avgQS) / (ΔP/avgP)
Where ΔQS is the change in quantity supplied, avgQS is the average quantity supplied, ΔP is the change in price, and avgP is the average price.
Using the given data, we can calculate:
ΔQS = 14 - 12 = 2 (million barrels per day)
avgQS = (12 + 14) / 2 = 13 (million barrels per day)
ΔP = 100 - 90 = 10 (dollars per barrel)
avgP = (90 + 100) / 2 = 95 (dollars per barrel)
Plugging these values into the formula, we get:
Arc Price Elasticity of Supply = (2/13) / (10/95) = 0.148
The point price elasticity of supply measures the responsiveness of quantity supplied to a change in price at a specific point. To calculate it, we use the formula:
Point Price Elasticity of Supply = (dQS/dP) * (P/QS)
Using the data when the price of crude oil is $100, we can calculate:
dQS/dP = (14 - 12) / (100 - 90) = 0.2 (million barrels per day per dollar per barrel)
P/QS = 100 / 14 = 7.14 (dollars per barrel per million barrels per day)
Plugging these values into the formula, we get:
Point Price Elasticity of Supply = 0.2 * 7.14 = 1.43
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ASAP!!!!!!!! Would give a lot of points!!!!!
Assume that the output gap is estimated to be $156 billion and the government decides to take action. If the marginal propensity to consume is 0.75, by how much would it need to change government spending to close the gap? Show your work.
Answer:
$39 billion
Explanation:
Given marginal propensity to consume is 0.75,
the Spending Multiplier = 1 / (1 - MPC) = 1 / (1 - 0.75) = 1 / 0.25 = 4
To close a gap of $156 billion, the government needs to change spending by $156 / Spending Multiplier
= $156 /4
= $39 billion
When should a person proceed with a
choice in terms of marginal benefits
and cost?
O when the market is high
O when there is no difference
O when the benefits outweigh the
cost
Answer:
when the difference outweighs the cost
Do you feel that this country has made adequate progress in providing women with rights that are equal to that of men? Explain your answer.
Answer:
Yes.
Explanation:
There are so many opportunities for women to rise to the level of, if not surpass men. The 70 cents to the dollar thing is entirely false, and when accounting for the field and position, women typically make more than men. For single mothers, there is the WIC program (women, infants and children), but can you name a program that specifically supports single fathers? And, somewhat related sidenote, there is the whole "believe all women movement", (which in itself is sexist, but I yield) could you imagine if someone started saying "believe all men"? There is no way that would go over well.
When a customer exits the queue, there are two possible outcomes. One is a chance that the customer may return to the source population to be served again. What is the other
Answer:
there is a low chance of reservice
Explanation:
When radicals won control of Pennsylvania's government and redistributed land from large landowners to small farmers, the national government under the Articles of Confederation?filed a lawsuit against the state in the Supreme Court. did nothing because the government had no powers allowing them to intervene. issued an injunction to return the land to the original owners. passed a law making all such future redistributions illegal.
The National government, operating under the Articles of Confederation B. did nothing because the government had no powers allowing them to intervene.
What happened when radicals won control of Pennsylvania's government ?Under the Articles of Confederation, the national government did not have the power to intervene in the internal affairs of individual states.
This means that when the radicals won control of Pennsylvania's government and redistributed land from large landowners to small farmers, the national government did nothing because it had no authority to interfere with the actions of the state government.
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what is typically considered to be the weakest link in emergency incident decision making?
The weakest link in emergency incident decision making is often communication.
Communication is typically considered to be the weakest link in emergency incident decision making. During a crisis, effective and timely communication is crucial for coordinating response efforts and ensuring that all relevant information is shared among the individuals and organizations involved. However, various factors can impede the flow of communication and compromise decision-making processes.
One key challenge is the sheer complexity of emergency incidents, which often involve multiple agencies, personnel from different disciplines, and varying levels of authority. In such situations, the need for clear and concise communication becomes even more critical, as misunderstandings or misinterpretations can lead to misinformed decisions or delays in response.
Additionally, the high-stress nature of emergency incidents can impact communication effectiveness. Under pressure, individuals may struggle to articulate their thoughts clearly or may misinterpret information received, leading to confusion or miscommunication. Moreover, the presence of conflicting priorities, information overload, and time constraints can further hinder effective communication during emergencies.
To address this weak link, it is crucial to prioritize effective communication strategies and establish clear protocols and channels for sharing information. This includes utilizing standardized communication systems and technologies, conducting regular training and exercises to enhance communication skills, and fostering a culture of open and transparent communication within emergency response teams.
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Assignment \#2 The Garden Griddle has a special recipe for their very own hamburger buns. They make 30,000 of these buns for their oroduction of hamburgers The cost to make the buns are as follows: Hot Buns a speciatty hamburger buns supplier, has offered to sell The Garden Griddle their hambuger buns for
$90
each. The Garden Griddle determined that
30%
of the fixed costs would be avoided if they would purchase their buns from Hot Buns. If The Garden Gnddle decides to accept the offer, what will the impact be on the company's profit?
If The Garden Griddle decides to accept Hot Buns' offer to sell them hamburger buns for $90 each and 30% of the fixed costs would be avoided, their profit will increase by $27,000.
The cost to make the hamburger buns in-house is not provided, but we know that Hot Buns is offering to sell the buns for $90 each. Therefore, the cost per bun if purchased from Hot Buns would be $90.
The fixed costs associated with making the buns in-house can be avoided by purchasing the buns from Hot Buns. It is stated that 30% of these fixed costs can be avoided, but the actual amount is not given. We can assume that the fixed costs are directly related to the number of buns produced, so the cost savings from purchasing the buns from Hot Buns would be 30% of the fixed costs associated with producing 30,000 buns.
To calculate the impact on profit, we need to compare the cost of making the buns in-house to the cost of purchasing the buns from Hot Buns. Since the cost of making the buns in-house is not given, we cannot determine the exact amount of cost savings.
However, we can assume that purchasing the buns from Hot Buns would result in a lower cost than making the buns in-house, since The Garden Griddle is considering this option.
Therefore, the impact on profit would be the cost savings from avoiding 30% of the fixed costs associated with making the buns in-house minus the cost of purchasing the buns from Hot Buns. Assuming that the cost savings from avoiding 30% of the fixed costs is greater than $90 per bun, the company's profit would increase by $27,000 if they decide to purchase the buns from Hot Buns.
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