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jekas [21]
3 years ago
9

Akwamba made this statement ‘organisations cannot be successful if managers fail to pay attention to the forces in the external

environment'. Do you agree or not? Justify using practical examples (9 marks)
Business
1 answer:
PIT_PIT [208]3 years ago
5 0

Answer:

Yes, I agree

Explanation:

As managers in an organization, proper attention must be paid to the forces in the external environment because these forces are dynamic and business cannot exist without them hence must align with these changes inorder to be successful.

Some of theses forces have direct impact with an organization such as customer's reaction to a company's product, how well the company stays ahead of it's competitors , suppliers and creditors. External forces in the environment that have indirect impact to a company are compliance with local laws, socio cultural forces, religion etc.

Practical examples

• Customer's reaction to a product speaks to what measures are taken by a company to improving the quality of products produced and sold. Favourable reaction would make the company succeed while unfavourable reaction could mar the company's performance.

• Level of compliance with local laws is also an important force in the external environment that must be adhered to. If a company must succeed, it must comply with local laws and order, failure to do so could result to fine or expulsion from the community.

You might be interested in
7. Identifying costs of inflation Bob manages a grocery store in a country experiencing a high rate of inflation. He is paid in
stiks02 [169]

Answer:

Shoe-leather Costs.

Explanation:

In this scenario, Bob manages a grocery store in a country experiencing a high rate of inflation. He is paid in cash twice per month. On payday, he immediately goes out and buys all the goods he will need over the next two weeks in order to prevent the money in his wallet from losing value.

What he can't spend, he converts into a more stable foreign currency for a steep fee. This is an example of the Shoes-leather costs of inflation.

A Shoe-leather costs refers to the costs of time, energy and effort people expend to mitigate the effect of high inflation on the depreciative purchasing power of money by frequently visiting depository financial institutions in order to minimize inflation tax they pay on holding cash.

Metaphorically, it ultimately implies that in order to protect the value of money or assets, some people wear out the sole of their shoes by going to financial institutions more frequently to make deposits.

Hence, Bob is practicing a shoe-leather cost of inflation so as to reduce the nominal interest rates.

5 0
3 years ago
Mike has a car accident and Maria saves his life. To show his appreciation, Mike gives Maria a life estate in one of the homes h
jok3333 [9.3K]

Answer:

Jackie owns the property until Maria dies

Explanation:

In this specific scenario, Jackie owns the property until Maria dies. That is because, in common law and statutory law, a life estate also known as life tenancy is defined as the ownership of land for the duration of a person's life. Therefore since Mike granted life estate to Maria and not Jackie, the land is legally Maria's to do as she wishes up until the moment of her death. Once this comes to pass the land ownership is returned to Mike.

8 0
3 years ago
A building acquired at the beginning of the year at a cost of $123,800 has an estimated residual value of $4,800 and an estimate
grigory [225]

Answer:

A. $119,000

B. 10%

C.$11,900

Explanation:

Deprecation is a method used in expensing the cost of an asset.

The depreciable cost = Cost of asset - Salvage value = $123,800 - $4,800 = $119,000

The straight line rate = 1/10= 0.1 = 10%

annual straight-line depreciation = depreciable cost × straight line rate = $119,000 × 0.1 = $11,900

I hope my answer helps you

6 0
3 years ago
An increase in the price of one good will have what effect on its complement?a. no effectb. increase in demandc. decrease in dem
Juliette [100K]

Answer: The correct answer is <u>"c. decrease in demand".</u>

Explanation: Complementary goods are all those products that depend on each other. That is, they are so closely linked that the behavior of one inevitably affects the behavior of the other.

The classic example of complementary goods is that of cars and gasoline. The sale of the former may be affected by an increase in the price of the latter; and, at the same time, the consumption of the second depends on the sale of the first.

7 0
3 years ago
Read 2 more answers
A certain bookstore chain has two stores, one in San Francisco and one in Los Angeles. It stocks three kinds of books: hardcover
Hoochie [10]

Answer:

                           Hard       Soft        Plastic

San Francisco 3,600           7,800       12,000  

Los Angeles  2,400            1,800        3,000

Explanation:

The sales during January were as follows:

                          Hard      Soft          Plastic

San Francisco 600              1,300           2,000  

Los Angeles  400                300              500

If the sales during the next five months were actually the same, then to determine total sales all we have to do is multiply January's sales by 6.

600 x 6 = 3,600         1,300 x 6 = 7,800         2,000 x 6 = 12,000

400 x 6 = 2,400           300 x 6 = 1,800            500 x 6 = 3,000

7 0
3 years ago
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