Answer:
An employee has an average wage of $60,000 and has worked for the firm for 28 years. The defined benefit pension plan pays retirees 2.3% of the average wage times the years of service. The employee can expect to receive __$1,380_____ per year upon retirement.
Explanation:
a) Data and Calculations:
Average wage = $60,000
Number of years worked in the firm = 28 years
Defined benefit pension plan rate = 2.3%
Annual defined benefit pension plan = $1,380 ($60,000 * 2.3%)
Total benefit to be received = $38,640 ($1,380*28) or ($60,000 *28 * 2.3%).
b) This employee is expected to receive the total benefit of $38,640 for serving the firm for 28 long years under the defined pension plan, given the plan rate of 2.3% of the average wage.
Answer:
1. <u>Reactive management</u> as the name implies refers to management having an approach of acting only after a problem has occurred while
<u> Proactive management</u> is preventive method of management that prevents problems from happening by acting in advance to avoid their occurrence.
Explanation:
1.
<u>Reactive management</u> as the name implies refers to management having an approach of acting only after a problem has occurred while
<u>Proactive management</u> is preventive method of management that prevents problems from happening by acting in advance to avoid their occurrence.
Applying proactive management to McDonalds, management will be open to new ideas and quickly adapt, from customer feedback and make changes to their menu but in reactive management it will refuse to do so until the customers begin to complain or disappear then it will take measures to repair the damage of lost customers. At what time, making changes to the menu may be coming too late.
2
Activity accounting does not only report financial information but other qualitative information based on the activities of people and departments which is why it is also called responsibility accounting.
Such being applied to Mcdonalds will consider number of clients served per staff or department, number of customer complaints per period etc
Reactive is not a type of creativity in the context of types of creativity.
The phenomenon when something is seemed valuable and new is formed, it is creativity. It can be either a physical object or intangible.
Creativity can be based on either cognition and emotion, and it can also be deliberate or spontaneous.