It includes the combination of the various institutions, agencies, entities, decision-making processes, and patterns of consumption that comprise the economic structure of a given community. As such, an economic system is a type of social system....
Answer: (B) Standardization
Explanation:
The standardization is the principle of the NIMS (National incident management system) and it specifically helps in managing or operating the communication and the information system.
It also helps in facilities the interoperability in an organization for the specific incident response and also establishing the action on the basis of proper planning.
The main objective of the national incident management system is that it helps in guiding the various types of private and the government sectors to prevent and also protect from the various types of incidents.
Therefore, Option (B) is correct answer.
Answer:
Flashfone and Pictech
The Nash equilibrium is achieved when Pictech and Flashfone price their smartphones high without the other party changing their strategy.
Explanation:
a) Data and Calculations:
Pictech
High Low
High 8 8 3 10
Flashfone
Low 10 3 5 5
b) By acting at the Nash equilibrium and pricing their smartphones high, Pictech and Flashfone achieve a payoff of $8 million respectively. This payoff level does not put any of the two firms at a disadvantage.
Answer:
(a) Strategy recommended for initial expansion
Target Markets
Market Entry
(b) Factors to consider when pursuing the expansion strategy
Brand Recognition
Cultural Understanding
Explanation:
There are two parts of this question. Therefore, they are written in details below as points (a) and (b)
<u>(a) Strategy recommended for initial expansion</u>
<u>Target Markets</u>
In order to proceed with any idea/plan at a strategic level, one must consider doing their homework. This means to understand the international customers, what do they buy, at what price is the goods preferred, which methods of shopping best suits them and so on.
<u>Market Entry</u>
Planning on how to enter the market is an important strategy in the plan for initial expansion. This could be achieved by acquiring another business and/or selling unique product/service.
(b) Factors to consider when pursuing the expansion strategy
<u>Brand Recognition</u>
One must question whether your brand is recognized in the market or not and at what level is it recognized. Awareness of brand existence have increased significantly with the help of social media. However, the same could be said about the number of brands available in the market for a single good/service. Therefore, research must be conducted before expanding into new territories.
<u>Cultural Understanding</u>
Culture is different in each country and based on which different market strategies needs to be implemented for each country. Let's say you approach a country where language of the country is not known to your existing employees. Therefore, you may need to train them first before working in the country and this could amount to a significant cost. It's best to start expansion in those countries where you have better cultural understanding.
Answer:
The company was rated 5 stars more by Men
Explanation:
Given that
General population = 67/350
Men = 40/175
In checking the percentage ratio, we have
a. General population
= (67/350) × 100
= 19.14%
b. Men population
= (40/175) × 100
= 22.85%
Thus, seeing that 22.85% > 19.14%, therefore, company was rated 5 stars more among the men population.
