In the buying center, Ryan does all the work from answering, forwarding, sales solicitations. The role that he is playing here in the decision-making unit is that of a gatekeeper.
A gatekeeper is a person who filters information before it is distributed to various employees of an organization's decision-making. They gather and process all the data that is sent to them before deciding where and to whom to send it. A coordinated effort like this aids in greater comprehension and makes every employee's tasks much simpler.
A group of people who participate in the decision-making process for obtaining goods and services is known as an organization's decision-making unit (DMU). It may also be known as a company's "buying center." The decision-making unit is essential in B2B because it helps businesses focus on the needs of their target market, learn more about their clients, make better decisions, and save time and money. A gatekeeper is exactly what it sounds like—someone who is posted at a gate to keep off unauthorized guests. It is the duty of the person in charge of deciding who may contact the decision-maker to keep the area free of obtrusive visitors and phone calls.
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Global sociocultural environments (Connect, Perform)
Complete the following sentences about sociocultural differences with the correct term.
The historical tendency in Canada for English speakers to be impatient with French speakers and vice versa is an example of , or people’s natural (but avoidable) tendency to feel their culture is superior to others.
When a company does business in a country like China with a , managers should expect people there to prioritize the future over the present and value thriftiness and persistence. However, when doing business in a country with a , such as Russia, managers need to recognize that people there will value tradition and prioritize social obligations.
Which of the following companies has high power distance?
a) At Sabine Industries, the CEO is seen as the undisputed leader of the office. People are afraid to correct him when he is wrong, and he is always addressed as Mr. CEO, while the people who report to him are addressed by their first names.
b) At Jupiter Jumpers, teams make decisions together, and everyone in the company is called an associate. The employees and managers often get together to socialize outside of work, and they can be heard laughing and talking over each other while they have drinks together.
c) At Sollient, managers listen carefully to employees when they raise concerns or questions, and employees are not afraid to speak up. Employees expect to be treated equally and fairly.
Which of the following companies has high femininity?
a) Quality of life is important at Social Science Systems. All employees are eligible for child care, elder care, or pet care services, and employees can take as many vacation days as they need, as long as they get their work done. Employees regularly cooperate with each other to cover difficult or undesirable work shifts.
b) Pomdel Media is the place to go if you want professional film editing, fast and error-free. Everyone at Pomdel has heard about Hal, an almost mythical figure, who once stayed up for 3 days straight to get a job finished before the deadline. At Pomdel, you had better know how to do your job and do it well. There’s a lot of autonomy but a lot of responsibility, too.
c) At Acme Accounting, performance comes first. Don’t bother showing up for work if you are in the bottom 10% of the sales force at the end of the year. Frank Fitzgerald, the CEO of Acme, makes sure that only the best salespeople stay with the company from one year to the next.
Which of the following companies has long-term orientation?
a) Riesa Corporation is focused on making a profit quickly. Sales results are reviewed weekly, and if a new product doesn’t turn a profit in 6 months, production is stopped and resources are moved to a different product.
b) Petrov is a farmer in Russia. He often thinks of the good old days when his neighbors gathered together to help each other, and the old traditions were upheld. Today, it seems like everything is changing, but as long as this year’s wheat crop is good, things will be okay.
c) Hikooki Flight is a Japanese plane manufacturing company. Mr. Hikooki is a planner, and he knows what the company will be doing 25 years from now. He is constantly reminding his employees about the importance of creating efficient and reliable products so that the company does not need to do rework.
The company which has high power distance is:
At Sabine Industries, the CEO is seen as the undisputed leader of the office. People are afraid to correct him when he is wrong, and he is always addressed as Mr. CEO, while the people who report to him are addressed by their first names.
The company which has high femininity is:
a) Quality of life is important at Social Science Systems. All employees are eligible for child care, elder care, or pet care services, and employees can take as many vacation days as they need, as long as they get their work done. Employees regularly cooperate with each other to cover difficult or undesirable work shifts.
What is High Power Distance?This refers to the increase in variance in power in a particular culture.
Some examples of countries with high power distance includes:
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John d. rockefeller stands out among nineteenth-century business leaders because of his?
John d. Rockefeller stands out among nineteenth-century business leaders because of his innovative organization called vertical integration.
What is vertical integration?
Vertical integration is a procedure that entails acquiring corporate operations in order to produce the same thing.
When a business chooses vertical integration, they typically have control over some phases of product production and delivery.Vertical integration can also be defined as the union of businesses engaged in the same line of work but at various stages of production or distribution.For instance, because it involves many phases in its business, Amazon might be classified as one of the organizations with vertical integration.In addition to acting as a platform for buyers and sellers, Amazon also has its own distribution network and sells some of its own goods and services.To learn more about vertical integration, visit:
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Define the term lifestyle and explain the kind of lifestyle you would like in your future. Then, discuss how work affects
lifestyle.
Answer:
the way in which a person or group lives.
Explanation:
ME working out alot and bieng very fit and It wouldnt effect my lifestyle it would actually help me cause i would live longer and be healthy
The term lifestyle refers to the habits and practices that define the life of a person, which also involves his/her work.
What is lifestyle?Lifestyle can be defined as the set of attitudes and patterns used in a routine and define the life of an individual.
Lifestyle can affect work because it is directly associated with the health and well-being of an individual.In conclusion, the term lifestyle refers to the habits and practices that define the life of a person, which also involves his/her work.
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Answer:
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What cost term best fits the following descriptions? Choose from the following list of terms: direct cost, indirect cost, cost object, trace, allocate, and assign. Terms may be used more than once.
o anything for which a manager would like to know the cost
o A cost that can be traced to a cost object.
o A general term for attaching any type of cost to a cost object o A cost that is related to a cost object, but can't be traced to it o The method of assigning costs that results in a los precise cost figure o A cost that is readily associated with a cost object o The specific term for attaching a direct cost with a cost object o The specific term for attaching an Indirect cost with a cost object o A cost that is only used or shared by several cost objects o The method of assigning costs that results in a very precise cost figure o Whether a cost is direct or indirect depends on this
Anything for which a manager would like to know the cost best fits the following descriptions. In this case, Option A is correct
A manager is a person who oversees a specific area of a business, or they "manage" the business. Managers may be in charge of a department and the personnel within it. In some situations, the manager is in charge of the entire company. For instance, a "restaurant manager" is in charge of the entire establishment.
A manager is someone who primarily performs managerial duties. They ought to have the authority to hire, fire, discipline, conduct performance reviews, and keep track of attendance. Additionally, they ought to be able to approve overtime and vacation time. The person in charge is he or she.
Managing personnel or a particular division of the business on a daily basis is another responsibility of the manager.
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Analyst why the mobility of labour may increase over time.
The mobility of labor may increase over time due to the following:
Increase in tradeIncrease in resourcesGrowth of industries.What is meant by mobility of labor?This is the term that is used to refer to the way that workers that are within a nation are able to move in their country or in nations that are outside their own.
There are several reasons for this. When industries are growing, there would be the need for ,ore people to be hired to make up the work force in the economy. Another reason is when there are increased resources such as capital in the nation.
The mobility tells us the ease with which these workers are able to move around in the economy. This is one of the core principles of economics as it tells us the way that Labor is able to affect growth in the economy as well as the production of goods and services.
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Which of the following is a risk banks should prepare for?
A.
Falling interest rates
B.
Borrowers who don't pay back loans
C.
Too many people requesting loans
D.
People switching to online transactions
Borrowers who don't pay back loans.
CAN YALL PROMISE ME U WILL BE NICE TO EVERYONE please and thx
Answer: yes
Explanation: because yes
Instructions a. Compute the break-even point and the margin of safety ratio (round to 3 places) for each company. b. Compute the degree of operating leverage for each company and interpret your results. c. Assuming that sales revenue increases by 20%, prepare a CVP income statement for each company. d. Assuming that sales revenue decreases by 20%, prepare a CVP income statement for each company. e. Discuss how the cost structure of these two companies affects their operating leverage and profitability.
a. The break-even point and margin of safety ratio for each company would depend on the specific financial information provided. Without that information, it is not possible to compute these values.
b. The degree of operating leverage for each company can be computed by dividing the percentage change in operating income by the percentage change in sales. Interpretation of the results would also require specific financial information.
To compute the break-even point, we need information such as fixed costs, variable costs, and selling prices per unit. The margin of safety ratio can be calculated by dividing the difference between actual sales and the break-even point by actual sales.
The degree of operating leverage is a measure of how sensitive a company's operating income is to changes in sales. It is calculated by dividing the percentage change in operating income by the percentage change in sales.
Preparing a CVP income statement requires information on sales revenue, variable costs, fixed costs, and operating income. Without this information, it is not possible to prepare the statements.
The cost structure of a company affects its operating leverage and profitability. A company with high fixed costs and low variable costs will have higher operating leverage, as small changes in sales can have a significant impact on operating income. However, it also means that if sales decrease, the impact on profitability can be greater.
On the other hand, a company with low fixed costs and high variable costs will have lower operating leverage and may have more stable profitability in response to changes in sales.
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If a new shirt costs $34.99 and the sales tax is $2.10, the sales tax rate is?
Answer:
6%
Explanation:
sales tax 2.10 divided by shirt cost will give you the sales tax rate
2.10/34.99 = .0600 or 6%
Answer:
The answer is C) 6 percent
Explanation:
how does illiteracy help to increase population growth rate? give reasons
Perfect answer will be marked as brainlist
Please I need answer quickly
______ Is a market in which a large number of suppliers compete with each other to satisfy the needs and wants of a large numbers of consumers at a competitive price.???
Answer : Monopolistic competition
Answer:
Monopolistic Competition
Explanation:
In a monopolistic competitive market, there are large numbers of sellers who do not sell identical products instead they sell differential products. They compete with each other at a competitive price. The products could be differentiated in many ways including quality, style, location and even brand name. Since they compete at a competitive price, if there is a substantial rise in the price of any of the products, the buyers could quickly shift from one product to another. The most crucial factor behind product differentiation is because of geographical factors. Under a monopolistic competitive market, the sellers do not have any influence over customer loyalty and limited control over the price.
What is one way people can reduce the amount of taxes they owe in a year?
A. Give money to charity
B. Earn a higher income
C. Purchase luxury goods
D. Work longer hours
Answer:
A
Explanation:
Donating money to charity is one method people might lower their annual tax burden. Therefore, (A) is the correct option.
What is Tax?Taxes are required payments made to individuals or enterprises by a government agency, whether local, regional, or federal. Income, capital gains, or the estate are all subject to taxes.
One of the ways to reduce the amount of tax payable is to donate money to a charity.
Therefore, (A) is the correct option.
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A monopolistically competitive firm that earns an accounting profit in the short run:_____.
A monopolistically competitive firm that earns an accounting profit in the short run could earn an economic profit, break even or suffer an economic loss in the short run
The break-even point (BEP) or break-even level denotes the volume of sales necessary to cover all costs, which include both fixed and variable costs to the business, in either unit (quantity) or revenue (sales) terms. At the break-even threshold, there is no overall profit. A company can only surpass the break-even point if revenues are more expensive than variable costs per unit. This indicates that in order for the corporation to recoup the initial cost of the good or its components, the selling price of the good must be greater (variable and fixed costs). The business can start turning a profit after they surpass the break-even price.
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You are late paying your internet provider and your internet services are suspended. what consequence is being used to change your behavior so that you make your payment?
You are late paying your internet provider and your internet services are suspended. The consequence that is being used to change your behavior so that you make your payment is negative punishment.
Negative punishment is a concept that is part of the theory of operant conditioning developed by BF Skinner. Usually, punishment is understood in terms of bringing about pain or unpleasant consequences on a person in order to decrease unwanted behavior.
But in negative punishment, something that is good or desirable is removed as punishment, in order to discourage undesirable behavior. An example is when our internet service is suspended due to non payment of fees.
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Fill in King, Inc. financial ratios. Comment on strengths and weaknesses. Forecasted Balance Sheet as of December 31, 2020 Cash $ 72,000 Accounts receivables $ 639,000 Accounts and notes payable $ 432,000 Inventories $ 994,000 Accruals $ 170,000 Total current assets $1,705,000 Total current liabilities $ 602,000 Land and building $ 338,000 Long-term debt $ 604,290 Machinery $ 132,000 Common stock $ 775,000 Other fixed assets $ 61,000 Retained earnings $ 254,710 Total assets $2,236,000 Total liabilities and equity $2,236,000 Forecasted Income Statement for 2020 Sales $6,390,000 Cost of goods sold $5,580,000 Per-Share Data Gross operating profit $ 810,000 EPS $ General admin & selling expenses $ 236,320 DPS $ Depreciation $ 159,000 P/E Ratio Misc. Expenses $ 34,000 Market price $ 50.00 Earnings before Taxes $ 380,680 Number of shares outstanding 20,000 Taxes $ 126,306 Net Income $ 254,374
To calculate financial ratios for King, Inc., we can use the given information from the forecasted balance sheet and income statement. Here are the calculations for some key ratios and a brief comment on their strengths and weaknesses:
Current Ratio:Current Ratio = Total Current Assets / Total Current Liabilities
Current Ratio = $1,705,000 / $602,000
Current Ratio = 2.83
Strength: The current ratio indicates that King, Inc. has a strong ability to meet its short-term obligations. A ratio above 1 suggests good liquidity.
Debt-to-Equity Ratio:Debt-to-Equity Ratio = Total Debt / Total Equity
Debt-to-Equity Ratio = ($432,000 + $604,290) / ($775,000 + $254,710)
Debt-to-Equity Ratio = 1.48
Weakness: The debt-to-equity ratio shows that King, Inc. has a relatively high level of debt compared to equity. This could indicate higher financial risk.
Gross Profit Margin:Gross Profit Margin = (Gross Operating Profit / Sales) x 100
Gross Profit Margin = ($810,000 / $6,390,000) x 100
Gross Profit Margin = 12.69%
Strength: The gross profit margin indicates that King, Inc. is generating a decent profit on its sales. Higher margins are generally positive for profitability.
Return on Equity (ROE):ROE = (Net Income / Total Equity) x 100
ROE = ($254,374 / ($775,000 + $254,710)) x 100
ROE = 25.60%
Strength: The ROE suggests that King, Inc. is generating a solid return on its shareholders' equity. Higher ROE indicates effective utilization of equity investments.
Price-to-Earnings (P/E) Ratio:P/E Ratio = Market Price per Share / Earnings per Share (EPS)
P/E Ratio = $50.00 / EPS
Note: The EPS value is missing in the provided information, so the P/E ratio cannot be calculated accurately.
Overall, King, Inc. demonstrates good liquidity with a strong current ratio. However, the relatively high debt-to-equity ratio suggests higher financial risk. The company's gross profit margin and return on equity show favorable profitability and efficiency. Unfortunately, the P/E ratio cannot be evaluated without the EPS value.
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QUESTIONS. 1 POINT At 120 units of output, marginal revenue is $7, marginal cost is $7, and average cost is $6. If consumers demand 120 units of output when the price is $10, what is the expected profit? Provide your answer below: . QUESTION 12 · 1 POINT In what way(s) does advertising allow a monopolistically competitive firm to raise its profits? There may be multiple correct answers. Select all that apply: o it allows it to raise its price by increasing customer loyalty O it allows it to lower costs of production it allows it to sell more by increasing demand for its product none of the above P FEEDBACK Content attribution
1:
The expected profit at 120 units of output is $120.
To calculate the expected profit, we need to first calculate the total revenue and the total cost at 120 units of output. Since marginal revenue (MR) equals $7, we know that the total revenue (TR) at 120 units of output is:
MR = ΔTR/ΔQ
$7 = ΔTR/ΔQ
ΔTR = $7 × 120 units = $840
Next, we can calculate the total cost (TC) at 120 units of output using the average cost (AC) and the total output:
AC = TC/Q
$6 = TC/120 units
TC = $6 × 120 units = $720
Finally, we can calculate the expected profit as the difference between total revenue and total cost:
Profit = TR - TC
Profit = $840 - $720
Profit = $120
2:
Options A and C are correct: advertising allows a monopolistically competitive firm to raise its profits by increasing customer loyalty and demand for its product. Option B is not correct as advertising does not necessarily lower the cost of production.
Advertising allows a monopolistically competitive firm to raise its profits in the following ways:
It allows the firm to raise its price by increasing customer loyalty and creating a differentiated product in the minds of consumers, which can lead to a decrease in price elasticity of demand.
It allows the firm to sell more by increasing demand for its product, which can lead to an increase in revenue.
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Think about a Toyota vehicle manufacturing facility that builds Camry cars from start to finish. How might the
manufacturing facility manager and employees attempt to solve problems:
. Before cars start being built down the manufacturing line?
. During the process of cars being built and moving down the manufacturing line?
. After all vehicles have been built for the day and the manufacturing line is idle?
Whoever is good with business and math can you please help me answer this im so stuck
The technique of solving problems which should be employed by the manufacturing facility manager and employees is; Before cars start being built down the manufacturing line.
Discussion:
In most manufacturing facilities like that which is described in this case;
Conceptual design is very much important prior to actual manufacture of the product. In essence, when solving problems, the manufacturing facility manager and the employees need to do so before cars start being built down the manufacturing line. Ultimately, this is to avoid design error which may render all of the products unfit for use.
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During 2017, some Fed officials were concerned about potential increases to expected inflation. They wanted to find a way to fight it. Raising interest rates was a policy under consideration. if the public revised their expectations about future inflation upwards, would that affect the short run aggregate supply curve? How and why? 10pts. i) Use the aggregate demand and supply diagram to illustrate your answer.10pts.
Yes, if the public revised their expectations about future inflation upwards, it would affect the short run aggregate supply curve. This is because an increase in expected inflation would lead to an increase in input costs, such as wages and raw materials, for firms.
As a result, firms would have to increase their prices to maintain their profit margins, leading to a leftward shift of the short run aggregate supply curve.
In the aggregate demand and supply diagram, this would be illustrated as a leftward shift of the short run aggregate supply curve. This would result in a higher equilibrium price level and a lower equilibrium level of output.
The increase in expected inflation would also lead to a decrease in real wages, which would reduce consumer spending and decrease aggregate demand. This would lead to a further decrease in output and an increase in the price level.
Therefore, the Fed's policy of raising interest rates would be an attempt to curb inflation by reducing aggregate demand and slowing down economic growth. However, this policy could also lead to a decrease in investment and consumption, which could further decrease output in the short run.
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What three factors play a large role in determining your monthly payment?
It's critical to understand your existing credit situation and take any required actions to improve it in order to reduce your overall loan costs, which may be significantly influenced by your credit, debt, and income.
What is credit?Credit is the belief that allows one party to lend money or resources to another party, with the understanding that the second party will not immediately pay the first party back (forming a debt), but will instead promise to pay back or return the resources at a later time. Credit includes all forms of deferred payments. Credit is given to a debtor, also known as a borrower, by a creditor, also known as a lender. Credit cards were more popular in the 1900s. Chains of larger companies formed, and they all started accepting credit cards as payment. Companies paid cardholders an annual fee that was predetermined and allowed them to select their preferred billing methods while each participating company received a share of the total billings.
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HELP ASAP PLEASE
The CPI is calculated by comparing
the spending levels at the beginning of
each year to the end of each year. In
this way, the calculation is similar to
what?
A. Unemployment
B. Inflation
C. Circular Flow Model
Answer:inflation
Explanation:
3. Explain how productivity affects economic growth.
Answer:
Productivity increases have enabled the U.S. business sector to produce nine times more goods and services since 1947 with a relatively small increase in hours worked. With growth in productivity, an economy is able to produce—and consume—increasingly more goods and services for the same amount of work.
Explanation:
Discuss the legal and the ethical issues in workplace, and the
best way to resolve it.
Legal and ethical issues in the workplace can arise in various forms, and addressing them appropriately is crucial for maintaining a healthy and productive work environment.
The environment refers to the sum total of all the physical, biological, and social factors that surround and influence an organism or a community of organisms. It encompasses both the living (biotic) and non-living (abiotic) components of the Earth's systems, including the atmosphere, hydrosphere, lithosphere, and biosphere. The environment plays a crucial role in sustaining life and supporting ecological interactions.
It provides essential resources such as air, water, food, and shelter, which are necessary for the survival and well-being of all organisms. Additionally, the environment is a complex web of interconnected systems, where changes in one component can have cascading effects throughout the entire ecosystem.
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First cost of equipment = $150,000
Market value at the end of year 6 = $30,000
MACRS depreciation is used. The equipment is a 5-year property.
Incremental income-tax rate for the company = 35%
Year
0
1
2
3
4
5
6
BT-CF in $
-150K
60K
63K
66K
69K
72K
75K
O&M Expenses
10K
13K
16K
19K
22K
25K
1. The first-year after tax-cash flow is _____________.
2. The fourth-year taxable income is equal to ___________.
3. The tax on depreciation recapture in year 6 is equal to ________.
In the first year, the after-tax cash flow is determined by subtracting taxes from the cash flow generated by the equipment.
To calculate the first-year after-tax cash flow, we need to determine the taxable income and apply the incremental income-tax rate. The taxable income is calculated by subtracting the operating and maintenance (O&M) expenses from the cash flow generated by the equipment. In this case, the cash flow in the first year is $60,000, and the O&M expenses are $10,000. Therefore, the taxable income is $60,000 - $10,000 = $50,000. Applying the incremental income-tax rate of 35%, the tax liability is $50,000 * 0.35 = $17,500. The after-tax cash flow is obtained by subtracting the tax liability from the cash flow, resulting in $60,000 - $17,500 = $42,500.
Regarding the fourth-year taxable income, we can follow a similar approach. The cash flow in the fourth year is $69,000, and the O&M expenses are $19,000. Thus, the taxable income is $69,000 - $19,000 = $50,000. Since the equipment is a 5-year property using MACRS depreciation, the accumulated depreciation by year 4 will be $150,000 * 0.32 = $48,000. However, the accumulated depreciation cannot exceed the equipment's adjusted basis, which is $150,000. Therefore, the taxable income is reduced by the accumulated depreciation, resulting in a taxable income of $50,000 - $48,000 = $2,000.
Regarding the tax on depreciation recapture in year 6, MACRS depreciation is used, which means the equipment is fully depreciated by the end of year 5. In year 6, the market value of the equipment is $30,000. Depreciation recapture is the difference between the market value and the adjusted basis. Since the adjusted basis is $150,000, the depreciation recapture is $30,000 - $150,000 = -$120,000. As depreciation recapture is a negative amount, there is no tax liability associated with it.
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What are the job roles on offer in the picture?
Will be grateful for any replies, thanks!
Answer:developer and a program assistant
Explanation:
Marked out of It has been estimated that safe aircraft carrier landings operate at about the 4.90 level, assume the 1.50 shift in the mean customary for Six Sigma applications. What DPMO does this imply?
The level of safe aircraft carrier landings is 4.9, and 1.50 is the standard deviation shift customary for Six Sigma applications.The DPMO of the safe aircraft carrier landings is approximately 999,316.
Aircraft carrier landings operate at about 4.9, which implies that approximately 99.99366 percent of the landings are free of defects. We must now apply the 1.50 shift in the mean customary for Six Sigma applications.
DPMO or Defects per Million Opportunities is a Six Sigma term used to calculate quality performance.
It determines the number of errors that occur per million opportunities. We must first calculate the Z-score to determine the DPMO.
The formula for calculating the Z-score is:
Z=(X-μ)/σ.
Here, X=4.9 and σ=1.50.
Assume a normal distribution, therefore, μ=0.
The Z-score is,
Z=(4.9-0)/1.50 = 3.2667.
We can utilize a standard normal distribution table to identify the area under the curve from the mean to the Z-score.
The DPMO can be calculated by multiplying this area by one million.
In this case, the area under the curve from the mean to the Z-score is 0.999316. Therefore,
DPMO = 0.999316*1000000 ≈ 999,316.
So, the DPMO of the safe aircraft carrier landings is approximately 999,316.
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eBay is an example of which type of e-commerce transaction?
A) A2Z
B) B24
C) C2C
D) C2B
E) 2C2
eBay is an example of a C2C (Consumer-to-Consumer) e-commerce transaction. eBay operates as an online marketplace that facilitates transactions between individual consumers. Hence the correct answer is option C).
Individual customers conduct direct business with one another in a C2C e-commerce model. By offering a platform where sellers can list their goods, establish pricing, and provide descriptions and photographs, eBay helps to make these transactions possible. Following that, buyers can peruse the available listings, submit bids or make immediate purchases while corresponding with sellers.
The platform offered by eBay acts as a middleman, easing the payment procedure and giving buyers and sellers facilities for contact, dispute resolution, and feedback. eBay normally charges sellers a fee based on the final sale price when a transaction is completed.
Although businesses can sell goods on eBay, the company's main goal is to make it possible for customers to conduct online transactions. It serves as a prime illustration of the C2C e-commerce model, in which customers and sellers are the same person.
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what is 2divided by 100
Answer:
0.02
Explanation:
Answer:
0.02 ... hope this helps :)
What country have a sand
Is there an ethical issue in this situation? Discuss. (after posting your answer, respond to one other post meaningfully).(Hint: see Exhibit 1-7, AMA Ethical values on page 26 of the Textbook to answer the above. Can you point out 2 relevant AMA value(s) that might have been violated in the above situation?)
Answer:
Explanation:
The American Marketing Association commits itself to promoting the highest standard of professional ethical norms and values for its members (practitioners, academics and students). Norms are established standards of conduct that are expected and maintained by society and/or professional organizations. Values represent the collective conception of what communities find desirable, important and morally proper. Values also serve as the criteria for evaluating our own personal actions and the actions of others. As marketers, we recognize that we not only serve our organizations but also act as stewards of society in creating, facilitating and executing the transactions that are part of the greater economy. In this role, marketers are expected to embrace the highest professional ethical norms and the ethical values implied by our responsibility toward multiple stakeholders (e.g., customers, employees, investors, peers, channel members, regulators and the host community).
Ethical Norms
As Marketers, we must:
Do no harm. This means consciously avoiding harmful actions or omissions by embodying high ethical standards and adhering to all applicable laws and regulations in the choices we make.
Foster trust in the marketing system. This means striving for good faith and fair dealing so as to contribute toward the efficacy of the exchange process as well as avoiding deception in product design, pricing, communication, and delivery of distribution.
Embrace ethical values. This means building relationships and enhancing consumer confidence in the integrity of marketing by affirming these core values: honesty, responsibility, fairness, respect, transparency and citizenship.
Ethical Values
Honesty – to be forthright in dealings with customers and stakeholders. To this end, we will:
Strive to be truthful in all situations and at all times.
Offer products of value that do what we claim in our communications.
Stand behind our products if they fail to deliver their claimed benefits.
Honor our explicit and implicit commitments and promises.
Responsibility – to accept the consequences of our marketing decisions and strategies. To this end, we will:
Strive to serve the needs of customers.
Avoid using coercion with all stakeholders.
Acknowledge the social obligations to stakeholders that come with increased marketing and economic power.
Recognize our special commitments to vulnerable market segments such as children, seniors, the economically impoverished, market illiterates and others who may be substantially disadvantaged.
Consider environmental stewardship in our decision-making.
Fairness – to balance justly the needs of the buyer with the interests of the seller. To this end, we will:
Represent products in a clear way in selling, advertising and other forms of communication; this includes the avoidance of false, misleading and deceptive promotion.
Reject manipulations and sales tactics that harm customer trust.
Refuse to engage in price fixing, predatory pricing, price gouging or “bait-and-switch” tactics.
Avoid knowing participation in conflicts of interest.
Seek to protect the private information of customers, employees and partners.
Respect – to acknowledge the basic human dignity of all stakeholders. To this end, we will:
Value individual differences and avoid stereotyping customers or depicting demographic groups (e.g., gender, race, sexual orientation) in a negative or dehumanizing way.
Listen to the needs of customers and make all reasonable efforts to monitor and improve their satisfaction on an ongoing basis.
Make every effort to understand and respectfully treat buyers, suppliers, intermediaries and distributors from all cultures.
Acknowledge the contributions of others, such as consultants, employees and coworkers, to marketing endeavors.
Treat everyone, including our competitors, as we would wish to be treated.
Transparency – to create a spirit of openness in marketing operations. To this end, we will:
Strive to communicate clearly with all constituencies.
Accept constructive criticism from customers and other stakeholders.
Explain and take appropriate action regarding significant product or service risks, component substitutions or other foreseeable eventualities that could affect customers or their perception of the purchase decision.
Disclose list prices and terms of financing as well as available price deals and adjustments.