Be open minded to other people's ideas and hear everyone's opinion. If you want a successful group everyone needs to feel that they are able to share their opinions and ideas without being harshly criticized
Answer:
Firms differ in fundamental ways because each firm possesses a unique bundle of resources
Explanation:
The resource-based view can be regarded as managerial framework utilized in finding strategic resources that can be exploited by a firm so that sustainable competitive advantage can be achieved. It should be noted that the underlying premise of the resource-based view is that Firms differ in fundamental ways because each firm possesses a unique bundle of resources
Question Completion:
The following information is available for a company's utility cost for operating its machines over the last four months.
Month Machine hours Utility cost
January 900 $5,450
February 1,800 $6,900
March 2,400 $8,100
April 600 $3,600
Answer:
Using the high-low method, the estimated variable cost per machine hour for utilities is:__________.
a) $2.50.
Explanation:
a) Data and Calculations:
Month Machine hours Utility cost
January 900 $5,450
February 1,800 $6,900
March 2,400 $8,100
April 600 $3,600
b) Highest and Lowest:
Month Machine hours Utility cost
March 2,400 $8,100
April 600 $3,600
Differences 1,800 $4,500
Estimated variable cost = $4,500/1,800 = $2.50
Answer:
FIXED PRICE CONTRACT
Explanation:
The type of contract that is most suitable if the type of work is predictable and the requirements are well-defined and not likely to change is FIXED PRICE CONTRACT because it looks as if the vendor is asking for a cost-plus-fixed-fee contract. However, by asking for a fixed $12,500, the vendor is actually asking for a FIXED PRICE CONTRACT. The cost and fee are just the components the vendor has estimated to come up with a final price.