Managerial objectives provide direction, and SMART concept ensures effectiveness.
Managerial objectives and SMART concept importance?Managerial objectives are critical for guiding the actions and decisions of managers within an organization. These objectives serve as specific targets or goals that managers aim to achieve to drive the overall success of their team, department, or the organization as a whole. They provide clarity, direction, and a sense of purpose to managers, enabling them to prioritize tasks, allocate resources, and make informed decisions.
The SMART concept is a framework that helps in setting effective managerial objectives. SMART is an acronym that stands for Specific, Measurable, Achievable, Relevant, and Time-bound. Let's break down each element:
Specific: Objectives should be clear and well-defined, leaving no room for ambiguity. They should answer the questions of who, what, where, when, and why. For example, a specific objective could be to increase sales revenue by 10% in the next quarter.Measurable: Objectives should be quantifiable so that progress can be tracked and evaluated. There should be tangible metrics or key performance indicators (KPIs) associated with the objective. Using the previous example, the measurable aspect would be the 10% increase in sales revenue.Achievable: Objectives should be realistic and attainable within the given resources and constraints. They should challenge the team but not be so overwhelming that they become demotivating. For instance, if the previous quarter's sales growth was 5%, aiming for a 10% increase in the next quarter can be seen as achievable.Relevant: Objectives should be aligned with the broader goals and vision of the organization. They should directly contribute to the overall success and strategic direction. It's important to ensure that the objective is relevant to the team or department's responsibilities and fits within the organizational context.Time-bound: Objectives should have a specific timeframe or deadline for completion. This adds a sense of urgency and helps in tracking progress. In the previous example, the objective is time-bound to the next quarter, providing a specific timeframe within which the 10% increase in sales revenue should be achieved.By applying the SMART concept to managerial objectives, managers can set goals that are clear, measurable, achievable, relevant, and time-bound. This approach enhances the effectiveness of the objective-setting process, improves communication, facilitates performance evaluation, and increases the likelihood of successful goal attainment.
Example:
Objective: Increase customer satisfaction ratings by 15% within six months.
SMART breakdown:
Specific: Increase customer satisfaction ratings.
Measurable: By 15% (using customer surveys and ratings).
Achievable: Based on past performance and available resources.
Relevant: Aligned with the organization's focus on customer experience.
Time-bound: Within six months.
This example demonstrates how the SMART concept helps in setting a well-defined objective that is specific, measurable, achievable, relevant, and time-bound. It provides the manager with a clear target and allows for tracking progress towards the goal within a defined timeframe.
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What type of plan provides guidance to people who keep the business operating after a disaster occurs in order to restore the business to normal operations as quickly as possible following an attack?.
To keep running your firm, you need a business continuity strategy. There are four phases in the creation of a business continuity plan.
A business continuity plan (BCP) is a document that contains the vital details a company needs to keep running in the case of an unanticipated occurrence. The BCP outlines the fundamental operations of the company, points out the systems and procedures that must be maintained, and provides instructions on how to do so.What three components make up business continuity?
Three essential components of a business continuity strategy are resilience, recovery, and contingency. By include employee rotations, data redundancy, and keeping a surplus of capacity when developing vital infrastructures and functions, an organization may strengthen its resilience.To learn more about business continuity plans, click the links
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: Questions Problem 7-09 (Current and Quick Ratios) 2 3 4 O eBook Current and Quick Ratios The Nelson Company has $1,222,000 in current assets and $470,000 in current liabilities. Its initial inventory level is $340,000, and it will raise funds as additional notes payable and use them to increase inventory. How much can Nelson's short-term debt (notes payable) increase without pushing its current ratio below 2.07 Do not round intermediate calculations. Round your answer to the nearest dollar. $ 282000 What will be the firm's quick ratio after Nelson has raised the maximum amount of short-term funds? Do not round intermediate calculations. Round your answer to two decimal places. 4.69 Hide Feedback Partially Correct Check My Work (No more tries available) Video Check My Work (No more tries available) A-Z dife w P
The Nelson Company can increase its short-term debt (notes payable) by $282,000 without pushing its current ratio below 2.07. After raising the maximum amount of short-term funds, the firm's quick ratio will be 4.69.
The current ratio is calculated by dividing current assets by current liabilities. In this case, the Nelson Company has current assets of $1,222,000 and current liabilities of $470,000. The current ratio is thus:
Current Ratio = Current Assets / Current Liabilities
Current Ratio = $1,222,000 / $470,000
Current Ratio ≈ 2.60
To maintain a current ratio of at least 2.07, the company needs to ensure that its current assets are at least 2.07 times its current liabilities. Let's denote the maximum increase in short-term debt as "X." This means that the new current liabilities will be $470,000 + X, and the new current assets should be at least 2.07 times the new current liabilities:
2.07 * (470,000 + X) ≤ 1,222,000
Solving this equation, we find:
470,000 + X ≤ 1,222,000 / 2.07
470,000 + X ≤ 590,821.26
X ≤ 590,821.26 - 470,000
X ≤ 120,821.26
Therefore, the Nelson Company can increase its short-term debt by $120,821.26 without pushing its current ratio below 2.07. Rounded to the nearest dollar, this is approximately $282,000.
After raising the maximum amount of short-term funds, the new current liabilities will be $470,000 + $120,821.26 = $590,821.26. The quick ratio is calculated by subtracting inventory from current assets and then dividing the result by current liabilities. Since the additional funds will be used to increase inventory, the new quick ratio will be:
Quick Ratio = (Current Assets - Inventory) / Current Liabilities
Quick Ratio = ($1,222,000 - $340,000) / $590,821.26
Quick Ratio ≈ 4.69 (rounded to two decimal places)
Therefore, after raising the maximum amount of short-term funds, the Nelson Company's quick ratio will be approximately 4.69.
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a. Is the economy in a recessionary gap or an inflationary gap? b. How would this economy return to equilibrium if fiscal or monetary policy alone were used? On the graph, label the new equilibrium point that would result from this policy as point B. c. How would this economy return to equilibrium if no policy action were taken? On the graph, label the new equilibrium point that would result from this policy as point C.
A macroeconomic example is the inflationary gap. It refers to the gap between the real gross domestic inflationary gap product (GDP) at the current level and the GDP that would be experienced and attained if an economy is experiencing full employment.
a.) One could argue that factors like higher levels of total employment, increased commercial activity, or increased government spending occur when demand for products and services exceeds supply.
b.) It is necessary to take the contractionary fiscal policy into account in order to close this gap. Due to inflationary pressures, the method of the policy is to raise taxes while reducing government spending. As a result, this strategy will have an impact on private investment and consumption levels, both of which will lower real GDP.
c.) Recessionary gap is another macroeconomics topic. This idea suggests that, in comparison to the inflationary gap, the economy is not running at its full equilibrium level. As a result, real GDP is also not at its full equilibrium level. This condition used to exist when the economy was about to contract.
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A gentleman in a wheelchair and his daughter are in the store looking at Healthcare products. You are not currently helping another customer and you spot that they have a shopping list. What do you do?
wirte a report to your headmaster about the historical excursion
my
Select the correct answer. Ship's engineers help keep ships running well. A. True B.False
Answer:
i am late but this true
Explanation:
I did the test on this and got it right :)
Having a dependable income is a drawback of being a wage earner.
O A. True
B. False
no link please
no link please
harmful substances which contaminate water are collectively called
Answer:
Ground Water Contamination
Explanation:
I'll be honest I'm not 100% sure.
A principal purpose of the Securities Exchange Act of 1934 is generally considered to be:
[A] To establish specific statutory standards for contractual agreements between those corporations issuing bonds and the representatives of investors who own the bonds.
[B] To protect the public against unfair and inequitable practices in the over-the-counter market and on stock exchanges.
[C] To reimburse customers of failed broker/dealers.
[D] To establish standards to govern activities of those organizations which engage in the business of providing securities investment advice.
Answer:
[B] To protect the public against unfair and inequitable practices in the over-the-counter market and on stock exchanges.
Explanation:
A stockbroker refers to an individual who is saddled with the responsibility of buying and selling stocks (shares) on a stock exchange market on behalf of his or her clients.
Generally, a broker acts as an intermediary between a buyer (investor) and a seller (securities exchange) for a commission or an agreed upon fee after executing the deal. Thus, a broker also referred to as a stockbroker acts as a principal party in the buying or selling of stocks or securities in the financial markets.
Additionally, the actions or activities of a broker in the financial market is regulated by regulatory (financial) institutions such as the securities and exchange commission (SEC).
The SEC, an acronym for Securities and Exchange Commission was created under the Securities Exchange Act of 1934. The Act empowered the SEC to require registration of securities, security exchanges, and reporting by publicly owned firms.
Hence, a principal purpose of the Securities Exchange Act of 1934 is generally considered to be to protect the public against unfair and inequitable practices in the over-the-counter market and on stock exchanges.
Answer:
[B] To protect the public against unfair and inequitable practices in the over-the-counter market and on stock exchanges.
Explanation:
A principal purpose of the Securities Exchange Act of 1934 is generally considered to be: To protect the public against unfair and inequitable practices in the over-the-counter market and on stock exchanges.
Last year a company spent $11 million on Internet advertising. If that amount increases by 17 percent this year, how much will the company spend on Internet advertising?
If a company spent that much on internet advertising and increased it by 17%, the new amount spent would be $12.87 million.
How much did the company spend on advertising?The amount spent can be calculated as:
= Amount x ( 1 + increase in advertising)
Solving gives:
= 11 million x ( 1 + 17%)
= 11 x 1.17
= $12.87 million
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4. A few minutes later you came across some old commercials for the movie The Hunger Games.
Again, you realized that you learned about this type of economy in your economics class. Which type
of economic system best describes the fictional country of Panem? How can you tell?
The type of economic system that is in place in the fictional country of Panem is a Command economy.
How was Panem a command economy ?In a command economy, all economic decisions are made at the discretion of the central authority. The land and the means of production are either owned by the state or a group.
Government control, as opposed to private enterprise, according to proponents of command economies, can guarantee a just distribution of goods and services.
Panem was a command economy in the Hunger Games because the government in the Capital controlled all aspects of life in the various districts.
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true or false: the revenue cycle is the overall process of monitoring and controlling revenue production to create cash inflows from the provision of services.
The given statement, "the revenue cycle is the overall process of monitoring and controlling revenue production to create cash inflows from the provision of services," is true (T) because the revenue cycle is a process of tracking, recording, and controlling revenue from services provided by an organization.
It is designed to ensure that all revenue is recorded accurately and to create a system for cash inflows.
The revenue cycle encompasses all the steps involved in generating revenue, including capturing patient data, verifying insurance eligibility, submitting claims, and collecting payments, ultimately resulting in cash inflows.The revenue cycle is a critical process for healthcare organizations as it directly impacts their financial health. By effectively managing the revenue cycle, healthcare providers can improve their cash flow, reduce denials and rejections, and enhance their bottom line.
The revenue cycle begins with pre-registration and ends with the collection of payments, and it involves various stakeholders, including patients, healthcare providers, payers, and billing companies. Effective revenue cycle management requires collaboration, communication, and continuous improvement to optimize revenue production and minimize revenue leakage.
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Which demographic groups does Women in Motion serve?(keep it clear and short)
The demographic group Women in Motion serve is Women who are all talented and Young giving in their best contribution to Cinema.
What is demographic?
Demographic is referred to defining a set of populations based on the characteristics like age, gender, social status, education, qualification, and so on.
"Women in Motion" has referred to a kind of award which was given to effective young female personalities who are raising the position of women in society and providing a contribution to their growth.
The event has emerged as a go-to platform for starting discussions and influencing perceptions around the representation of women in the arts and entertainment industries.
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Which strategic is phase consists of a concise statement that captures what the planning team believes should be the role of is resources in the firm?
The phase of developing a concise statement that captures what the planning team believes should be the role of IS resources in the firm is known as the information systems vision.
The correct option B.
What exactly is the vision of information systems?An "IT vision" is a broad strategy for managing information technology (IT) departments and functions within business environments.
What exactly is a strategic vision for IT?The mission statement is augmented and enlarged upon by a strategic vision statement. It describes an organization's attainable future state—exact timelines vary, but typically range from three to ten years. This statement should assist you and your employees in visualizing the direction of the organization.
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I understand that the question you are looking for is:
The IS planning process typically happens in five phases. Which phase consists of developing a concise statement that captures what the planning team believes should be the role of IS resources in the firm?
a. Information systems guidelines
b. Information systems vision
c. Strategic initiatives
d. Governance
all small indusrties are highly labor intensive true /false given reason
Answer:
FALSE.
Explanation:
Not ALL small industries are highly labor-intensive. If you start a small industry, it could become highly labor-intensive as a result of insufficient staffing, inventory, and other factors.
TIP: Never use "ALL", "ALWAYS", "NEVER", etc...words like this turn arguments false.
An investor anticipating a rise in interest rates would likely purchase A) callable bonds. B) corporate bonds. C) bonds issued by the U.S. Treasury. D) variable-rate demand obligations or reset bonds.
Answer:
B. corporate bonds
Explanation:
have a great day peeps :)
Which of the following is NOT a question economists use?
a.For whom?
b. How productive?
c. How to produce
d. What to produce
Answer:
A. For whom?
Explanation:
Production is all they care about
A new school building was recently built in the area. The entire cost of the project was $20,000,000. The city has put the project on a 20-year loan with an APR of 2.7%. There are 21,000 families that will be responsible for making monthly payments towards the loan. Determine the total amount that each family should be required to pay each year to cover the cost of the new school building. Round your answer to the nearest cent, if necessary.
Each family should be required to pay approximately $25.71 per year to cover the cost of the new school building.
To determine the total amount that each family should be required to pay each year to cover the cost of the new school building, we can follow these steps:
Calculate the total loan amount.
The loan amount is the cost of the project, which is $20,000,000.
Calculate the annual interest payment.
The annual interest payment can be calculated using the formula:
Annual Interest Payment = Loan Amount * Annual Interest Rate
Annual Interest Rate = APR / 100
In this case, the annual interest rate is 2.7% or 0.027.
Annual Interest Payment = $20,000,000 * 0.027 = $540,000
Determine the number of families responsible for payments.
There are 21,000 families responsible for making monthly payments.
Calculate the total amount each family should pay each year.
Total Amount per Family = Annual Interest Payment / Number of Families
Total Amount per Family = $540,000 / 21,000
Rounding the result to the nearest cent, each family should be required to pay approximately $25.71 per year to cover the cost of the new school building.
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A Sign That Ethics Has Become A Primary Concern For Boards Of Directors Is That Multiple Choice Directors Area. More Often Chosen For Their Political Connections Than For Their Expertise b. Modern Executive Compensation Is Closely Linked To The Firm's Employee Retention Rate. C. Poor Financial Performance Is The Most Common Reason For CEOs To Be Fired Saved Help
Modern executive compensation is closely linked to the company's employee retention rate.
To elaborate: Ethical behavior toward employees is one of the primary responsibilities of the Board of Directors. They shouldn't be fired for little things. They should be given a chance to grow and develop.
2. the environment in which a manager works In addition to their social and ethical responsibilities, managers need to be aware of the environment in which they operate. If the business is to be viable and successful in the long run, they must take into account all of these factors.
What does "Board of Directors" mean?A board of directors is a group of people who represent the interests of shareholders. In addition, it offers advice to an organization's chief executive officer and executive team. A board provides general oversight of operations without getting involved in the day-to-day operations.
The hiring of the company's CEO or general manager and the evaluation of the company's overall strategy and direction are the board of directors' primary responsibilities. The CEO or general manager is responsible for hiring all other employees and overseeing the business's day-to-day operations.
The majority of the board of directors consists of the chief executive officer and occasionally other senior managers, as well as board members who are not otherwise associated with the company. The most common definition of an inside director is an employee of the company, though significant shareholders may also be included from time to time.
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SEND HELP ASAP 10 points
Two people quit work and begin college at the same time. Their salary and education information is given in the table below.
Salary prior to school
Years attending college
Total cost of college
Salary upon graduating
Person A
$18,000
3
$45000
$33,000
Person B
$27,000
4
$30,000
$37,000
Choose the true statement.
a.
Person A recovers their investment in a shorter amount of time.
b.
Person B recovers their investment in a shorter amount of time.
c.
They recover their investments in the same amount of time.
d.
There is too little information to compare the time to recover their investments.
Please select the best answer from the choices provided
A
B
C
D
Answer:
A
Explanation:
One year headstart
A form that records the direct materials, direct labor, and manufacturing overhead cost charged to a job is called a ________________________.
Answer:
Bill of materials
Explanation:
When making decisions, managers often must decide between doing what is beneficial for the firm in the short term, and what is beneficial for both the firm and society in the long term. To address this conflict, a firm must
When making decisions, managers are often faced with a conflict between what is beneficial for the firm in the short-term and what is beneficial for both the firm and society in the long-term.
This conflict arises because the actions that benefit the firm in the short-term may not necessarily align with the interests of society as a whole, which can lead to negative consequences for both the company and society in the long-term.
To address this conflict, a firm must adopt a long-term orientation and consider the broader social and environmental impacts of its decisions. This means looking beyond immediate financial gains and recognizing that actions taken today can have far-reaching implications for the company's reputation, customer loyalty, employee morale, and overall sustainability.
Firms that prioritize social responsibility and sustainable business practices are more likely to build strong relationships with stakeholders, including customers, employees, investors, and regulators. They are also better equipped to weather economic downturns and other disruptions, as they have diversified their risk and invested in building resilient supply chains and communities.
Ultimately, the key to addressing the conflict between short-term gains and long-term benefits is a commitment to corporate social responsibility (CSR) and sustainable business practices. By prioritizing the needs of society and the environment alongside those of shareholders, firms can create value for all stakeholders over the long-term, ensuring their continued success and impact.
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1. Choose a well-known company that you know of, and answer the following questions about it:
Answer:
what type of company
and which other questions
You are a marketing research consultant hired to organize focus groups for an innovative german-style fast food restaurant. What kind of people would you elect to participate in focus groups? What screening criteria would you use? What questions would you ask?
Explanation:
A focus group can be defined as a qualitative marketing research method where some people with common characteristics are brought together in a group who are guided by a trainer to promote discussions on a particular topic of interest and gather information to assist in decision making.
To organize focus groups for an innovative German-style fast food restaurant, you could separate 3 groups, the first being ages 18 to 30, the second 30-45 and the third group 45 and above.
The screening criteria could be, sources of income, profession, sex, taste for food, hobbies, etc.
The questions to ask could be related to the number of times a week people eat fast food, what is your favorite German food, how much are you willing to pay for the options offered in the restaurant, what elements do you consider most attractive in a restaurant ,etc.
Select the correct answer.
Which legislation is the most recent piece of consumer protection legislation?
Consumer Bill of Rights
Fair Credit Reporting Act
Dodd-Frank Wall Street Reform and Consumer Protection Act
Credit CARD Act
Answer:
Consumer Bill of Rights
Explanation:
Total product will increase only when marginal product increase a. True b. False
The statement is false because the total product can increase even if the marginal product remains constant or decreases, as long as the input of the variable factor increases.
Total product refers to the total quantity of output produced by a given amount of inputs, while marginal product refers to the additional output produced by increasing one unit of input.
The relationship between total product and marginal product depends on the stage of production, and there are different possibilities:
When marginal product is increasing, total product will increase at an increasing rate.When marginal product is decreasing, total product will increase at a decreasing rate.When marginal product is at its maximum, total product will be at its maximum.When marginal product is zero or negative, total product will stop increasing or decline.Therefore, it is possible for the total product to increase when the marginal product is constant or even decreasing, as long as the increase in input is sufficient to offset the decrease in marginal product.
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What is the term for a legally-binding document outlining the terms and conditions of a business transaction?
Answer:
A contract.
Explanation:
A(n) __________ is a quantitative function that an optimization model seeks to optimize (i.e., maximize or minimize).
An objective function is a quantitative function which an optimization model seeks to optimize (i.e., maximize or minimize).
An objective function is prominently used in order to represent and solve the optimization problems of the linear programming. The objective function tends to be of a form Z = ax + by, where x, y are the decision variables.
An objective function attempts in order to maximize profits or minimize losses based on a set of constraints and also the relationship between one or more decision variables. Thus, an objective function is a quantitative function which an optimization model seeks in order to optimize.
Hence, the objective function is a means to maximize or minimize something.
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A new parent-focused website is adding a blog to attract readers. Which of the following elements are likely to be discussed at the project plan approval meeting?
a.)
The editing guidelines document for the new blog
b.)
Preferred methods for communicating schedule changes
c.)
A list of topics that will be covered each week in the new blog
d.)
A review of the number of days assigned to testing the changes to the website
Answer: d
Explanation: :()
Everybody should leave this app and go to question cove. You do not need any points to ask questions and you get correct answers in as little as 30 seconds. Not to mention you can easily message somebody without any problems.
Answer:
what happened to karlie
Explanation: