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2 years ago

In the new highly competitive business environment, the planning function is described as ______.

1 answer:

4 0

In the new highly competitive business environment, the planning function is described as delivering strategic value.

Business is the activity of creating one's living or earning money by way of generating or buying and selling products. it is also "any activity or company entered into for income."

A enterprise is defined as an enterprise or enterprising entity engaged in industrial, industrial, or professional activities. organizations can be for-profit entities or non-earnings organizations. business types range from constrained liability corporations to sole proprietorships, companies, and partnerships.

The definition of business is an career or change and the purchase and sale of products or services to make a profit. An example of business is farming. An example of business is a house sale.

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How can supply and demand for different careers affect job stability and income? Should you think about supply and demand when c

baherus [9]

Answer:

As the demand for a certain type of jobs increase, the amount of people who are willing to supply their labor also increased. Job that are the most stable and has high payment are the types of jobs that high in demand but low in supply.

Personally, I think you should think about supply and demand when determining your career. But, you shouldn't make it your sole criteria.

Salary is important. It's provide safety for you and loved ones to fulfill your basic needs. It also allow you to follow a certain type of lifestyle. But, passion and happiness also extremely important. You need to make sure that the job that you do is not taxing your general well being. You need to find balance between the two.

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3 years ago

True or false: When a capital investment decision is being made between two or more alternatives, the project with the shortest

Flura [38]

Answer:

False

Explanation:

The payback period refers to the specific period of time that it is required to recover the amount invested and it is an important factor to take into account but the project with the shortest payback period is not necessarily the most desirable investment because other factors are also considered, for example, the expected profit and the conditions in the environment that may affect the assumptions made. Because of that, the answer is that the statement is false.

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3 years ago

Fill in each blank with the correct number from the table.

klasskru [66]

Opportunity costs are the measures of things you must give up when you make a certain decision.

In this case, if country A decides to produce all petroleum, they are choosing not to produce 8 units of seafood. This is their opportunity costs because they are giving up the 8 units of seafood to make petroleum.

The same is true for country B. If they choose petroleum, they are giving up the ability to make 8 units of seafood.

3 0

3 years ago

Read 2 more answers

Is it necessary that the five steps in the strategic management process be performed sequentially? Why or why not?

Artemon [7]

Answer:

Explanation:

Strategic management process may be defined as the process which appraises the industries and business where the organization is involved. It is the culture of appraisal that any business adopts in order to outdo their competitor.

There are mainly 5 steps for the strategic management process in any business. They are :

-- in goal setting

-- to analyze

-- in strategy formulation

-- in strategy implementation

-- to control and evaluate

These are main 5 steps which follows a logic and is easily understandable as it is simple process. But it is not compulsory for the business or organization to take these steps in a sequential manner. It depends upon the company's need. Many company analyses the internal as well as the external factors that affects their strategy which is important to their business process. So they may start with any step for the appraisal process. They can start with any step and see the impact of it and then change or move to any other step depending upon their necessity. It is according to the company's need and situation that these steps are taken in any sequence by the company.

4 0

4 years ago

What is LVN Corporation's direct labor efficiency variance? (Round any intermediary calculations to the nearest cent and your

Leokris [45]

<u>Complete Question:</u>

LVN Corporation's direct labor costs and related information for the month of June were as follows:

500 Actual total direct labor-hours

1000 Standard total direct labor-hours

Total direct labor cost $16,500

Unfavorable direct labor rate (rate) variance $600

What is LVN Corporation's direct labor efficiency variance?

A. $16,500 unfavorable

B. $7950 unfavorable

C. $7950 favorable

D. $16,500 favorable

Answer:

$7,950 Unfavorable

Explanation:

As we know that:

"Labor Efficiency Variance = (Actual Labor Hours Worked for Actual Production − Standard Hours for Actual Production) * Standard Rate"

If we consider the parenthesis elements in the formula, we can decide whether the variance is favorable or adverse. If the actual labor hours worked are more than the budget (standard hours for actual production) then the variance (difference) is adverse because greater the hours worked for same level of activity (Production Units) the greater is the labor cost. Hence the variance would be adverse and vice versa.

Here

Actual Hours Worked for actual production are 1,000 Hours

Actual total labor cost is $16,500

Standard Hours Worked for actual production are 500 Hours

Standard rate per hour is $15.9 per Hour <u>(Step 1)</u>

By putting values, we have:

Direct Labor Efficiency Variance = (1000 Hrs - 500 Hrs) * $15.9 per hour

= (1000 - 500) * $15.9 per share

= $7,950 Unfavorable

<h2><u>Step1: Find Standard Labor Rate</u></h2>

We can find the standard labor rate using the following labor rate variance formula:

Labor Rate Variance = (Standard Rate per Hour * Actual Hours Worked) − (Actual Rate per Hour * Actual Hours Worked)

Here

(Actual Rate per Hour * Actual Hours Worked) is total labor cost which is $16,500

Actual Hours Worked is 1000 Hours

Labor Rate Variance is ($600)

By putting values, we have:

($600) = (1000 Hours * Standard Labor Rate) - $16,500

($600) + $16,500 = 1000 Hours * Standard Labor Rate

$15,900 = 1000 Hours * Standard Labor Rate

Standard Labor Rate = $15,900 / 1000 Hours = $15.9 per hour

7 0

3 years ago