Managers are handling complexity when they are adaptable, imaginative, and prepared to learn from mistakes.
Describe complexity.
According to the scientific theory of complexity, certain systems exhibit behavioral traits that are utterly outside the scope of any traditional examination of the system's component pieces. These phenomena, also known as emergent behavior, appear to be present in a variety of complex living organism-based systems, such as the stock market and the human brain. For instance, according to complexity theorists, a stock market crash is an emergent result of the activities of several individual investors on a complex financial system, just as human awareness is an emergent characteristic of a complex network of neurons in the brain.
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Answer:
Accepting the special order will reduce Toms operating income by $50,000
Explanation:
See attached file
Answer:
- <u><em>1. CPI in the subsequent year: 1,135</em></u>
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- <u><em>2. Rate of inflation: 13.5%</em></u>
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Explanation:
<u>1. Calculate the CPI</u>
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<em>CPI </em>is the consumer price index.
CPI is created using a basket of goods and services that are typically consumed.
In the given case the typical basket is:
- Gasoline and car maintenance
- Phone service (basic service plus 10 long-distance calls).
Then to find the CPI for a determined year you multiply each item by its price and then add up all the results.
For the base year, the expenditures per month were:
- 25 pizzas at $ 10: $10 × 25 = $250
- Gasoline and car maintenance: $100
- Phone service (basic service plus 10 long-distance calls): $50
Then, the CPI for the base year is:
- CPI = $250 + $600 + $100 + $50 = $1,000
The year following the base year, the expenditures per month are:
- 25 pizzas at $ 11 : $11 × 25 = $275
- Gasoline and car maintenance: $120
- Phone service (basic service plus 10 long-distance calls): $40
Then the CPI for the followng year is:
- CPI = $275 + $700 + $120 + $40 = $1,135
<u>2. Calculate the rate of inflation</u>
The rate of<em> inflation</em> is defined as the increase of the CPI of the given year with respect ot the base year:
The formula to calculate the rate of inflation is:
- Inflation = (CPI of the year - CPI of the base year) / (CPF of the base year) × 100
- Inflation = [ (1,135 - 1,000) / (1,000)] × 100 = 13.5%
Hence, <em>the rate of inflation for the subsequent year is 13.5%</em>
