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-Dominant- [34]
3 years ago
13

Evaluate when a laissez-faire style of management might provide an opportunity to provide customers with better customer service

?
Business
1 answer:
hram777 [196]3 years ago
6 0
<span>A laissez-faire style of management can provide better customer service especially in decentralized, highly variable, and personalized markets. A laissez-faire style of management imposes minimal restrictions of formalized guidance for the customer services representatives to adhere to and thus allows for more freedom to allow for a personalized approach to the customers problems. This could be demonstrated in a simple example where a customer service representative responds to a customer's issue with product satisfaction. In a laissez-faire style of management the representative could employ more time costly but empathetic approaches to the customer and perhaps have a greater chance at uncovering, mitigating, and solving the customer's issue. This personalized and empathetic approach would have a higher chance of conveying to customer that they are not "just another number" and could potentially result in positive word of mouth advertising as well. Lastly, not all problems or issues are simple straightforward affairs. A laissez-faire style of management allows for increased flexibility and a greater overall chance of achieving customer satisfaction.</span>
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If the contribution margin is not sufficient to cover fixed expenses:.
Elan Coil [88]

If there is an insufficient contribution margin to cover fixed expenses, there will always be an occurrence of a net loss.

<h3>What is a Contribution Margin?</h3>

The contribution margin can be expressed in gross income terms.  After subtracting the variable element of the firm's expenditures, it indicates the extra money gained for each product sold.

The contribution margin is calculated by subtracting the selling price/unit from the variable cost/unit.

This metric displays how much a certain product adds to the company's total earnings. It displays the share of revenue that helps to pay the firm's fixed costs and gives one approach to illustrate the profit potential of a certain product supplied by a company.

Therefore, If there is an insufficient contribution margin to cover fixed expenses, there will always be an occurrence of a net loss.

Learn more about contribution margin here:

brainly.com/question/24881206

7 0
2 years ago
At December 31, Amy Jo's Appliances had account balances in Accounts Receivable of $311,000 and in Allowance for Uncollectible A
Ierofanga [76]

Answer:

$5,230

Explanation:

Data given in the question

Account receivable balance = $310,000

Credit balance in allowance for uncollectible accounts = $970

Given percentage = 2%

So by considering the above information, the bad debt expense is

= Account receivable balance × given percentage - credit balance in allowance for uncollectible accounts

= $310,000 × 2% - $970

= $6,200 - $970

= $5,230

6 0
4 years ago
Which is most true of an annual rate of 4% compounded quarterly? A) It is equivalent to 4.4% paid annually. B) It is equivalent
Artemon [7]

Answer:

D) It is equivalent to 4.06% paid annually

Explanation:

Since it is not talking about annuity and simple compound interest, therefore assuming investment value = $100 then interest will be as follows:

Interest for each quarter = \frac{4}{100} \times \frac{3}{12} = 1%

But this 1% will be paid on the compounded value

Interest at end of Quarter 1 = $100 X 1% = $1

Compounded value at end of Quarter 1 = $100 + $1 = $101

Interest at end of Quarter 2 = $101 X 1% = $1.01

Compounded value at end of Quarter 2 = $101 + $1.01 = $102.01

Interest at end of Quarter 3 = $102.01 X 1% = $1.0201

Compounded value at end of Quarter 3 = $102.01 + $1.0201 = $103.0301

Interest at end of Quarter 4 = $103.0301 X 1% = $1.030301

Compounded value at end of Quarter 4 = $103.0301 + $1.030301 = $104.060401

Now net return annually = $4.060401/$100 = 4.06%

Final Answer

D) It is equivalent to 4.06% paid annually

6 0
3 years ago
the relationship between the factors of production used by a firm and the maximum output possible is called the
elena-14-01-66 [18.8K]

In economics, a factor of production, resource, or input is what is used in a production process to produce products, i.e. goods or services.

The amounts of various inputs used determine the amount of output according to a relationship known as the production function. The relationship between the inputs a firm uses and the maximum output it can produce with those inputs is called the firm's production function. Factors of production are outputs or inputs used to produce goods and services. They are the resources a business needs to make a profit by producing goods and services. Factors of production fall into four categories: Land, Labor, Capital, Entrepreneurship.

Learn more about production here-

brainly.com/question/27028012

#SPJ4

3 0
1 year ago
Suppose the price of movie tickets changes. The price change leads to a 10 percent decrease in the quantity demanded of movie ti
Alinara [238K]

Answer:

inelastic

Explanation:

Price elasticity of demand measures the responsiveness of quantity demanded to changes in price of the good.

Price elasticity of demand = percentage change in quantity demanded / percentage change in price

If the absolute value of price elasticity is greater than one, it means demand is elastic. Elastic demand means that quantity demanded is sensitive to price changes.  

Demand is inelastic if a small change in price has little or no effect on quantity demanded. The absolute value of elasticity would be less than one

Demand is unit elastic if a small change in price has an equal and proportionate effect on quantity demanded.  

Demand is inelastic because the change in total revenue is less than the change in price.

elasticity of demand = 5/10 = 0.5

Elasticity of demand is less than 1

8 0
3 years ago
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