Answer: about two out of three small firms close within five years of their founding
Explanation:
According to a research that was done, it was found that out of three small firms, two close within the first five years they were established.
The reasons that were said to have caused this failure were funding challenges, faulty business model, inadequate management team and marketing initiatives that were unsuccessful.
Therefore, small business owners sgoutd try as much as possible to curtail risks that could possibly lead to the downfall of the business and also make sure the consumers are willing to purchase the product at the price given and that the product satisfies their needs.
I think the answer is C. :)
Answer:
$30,586
Explanation:
Using an annuity formula, we will compound at 2.9% for 9 years and the money at the end of year 9 will be used to compound at 2.3% for 12 years.
So compounding formula is:
Future Value = Present Value * (1+r)^n
For compounding at 2.9% for 9 years,
Future Value = $18,000 * (1+2.9%)^9 = $23,281
And now using the money at the end of year 9 to compound at 2.3% for 12 years:
Future Value = $23,281 * (1+2.3%)^9 = $30,586
Answer:
C. They know whether a system meets their needs and requirements.
Explanation:
An information system can be defined as a set of components or computer systems, which is used to collect, store, and process data, as well as dissemination of information, knowledge, and distribution of digital products.
Generally, it is an integral part of human life because individuals, organizations, and institutions rely on information systems in order to perform their duties, functions or tasks and to manage their operations effectively. For example, all organizations make use of information systems for supply chain management, process financial accounts, manage their workforce, and as a marketing channels to reach their customers or potential customers.
Additionally, an information system comprises of five (5) main components;
1. Hardware.
2. Software.
3. Database.
4. Human resources.
5. Telecommunications.
Hence, it is important for business professionals to take an active role in developing and managing information systems because it helps them to know whether a system meets their needs and requirements.