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Natali5045456 [20]
3 years ago
8

If a firm’s business activities do not result in profit maximization, whilst alternatives exist, then such activities amount to

irresponsible actions. Discuss any five sets of economic responsibilities firms must embrace to ensure the protection and enhancement of the business.
Business
1 answer:
vlada-n [284]3 years ago
5 0

Answer:

The five steps of economic responsibilities firms should embrace includes the following: (1) By using resources efficiently (2) Organizational structure (3) Outsource (4) Continuous Improvement (5) Bench-Marking

Explanation:

Solution

The 5 sets of economic responsibilities firms should embrace include the following:

1)Use resources efficiently: Existing resources such as funds, infrastructure,  man power,transport must be effective by the companies. Companies must have genuine policies and companies must guarantee that people are following the laid down standards and policies in making sure that operational costs are as low as feasible.

2)Organizational structure: Must guarantee that organizational structure and payoffs are right.

Organizational structure is necessary so as the manpower is not changed and all departments have the needed manpower only. Also, the payment gaps between different must be sufficient instead of excessive. There must not exist a large gap increase rate of average salaries of top executives and average salaries of lower level employees.

3)Outsource: Companies must outsource processes if the cost of outsourcing operations is lower than the cost of internal operations. for this it save a lots of costs.

4)Continuous Improvement: The welcoming of continuous improvement projects in the organizations to minimize the costs of operations shows that costs are saved.

5)Bench marking: Benchmark all the costs against industry leaders and aspire to become the most low cost operator to earn more profits.

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18. HexaCo has various policies and procedures pertaining to the company’s operations. These policies and procedures are routine
anyanavicka [17]

Answer: Control activities

                 

Explanation: In simple words, control activities refers to the policies and procedures that help the management to reduce the risk they have identified. These activities reports as a support structure for other operating activities of the business.

In the given case, hexa company has policies and procedures that supports managements initiatives. Hence the given case depicts the control activities element.

3 0
3 years ago
Tucker's Trucking is considering a project with a discounted payback period just equal to the project's life. The projections in
Vinil7 [7]

Answer:

Break-even quantity= 9520 units

Explanation:

Giving the following information:

The projections include a sales price of $39.

Variable costs per unit of $14.

Fixed costs of $238,000.

The operating cash flow is $24,300.

Break-even quantity= Fixed costs/contribution margin

Break-even quantity= 238000/(39-14)= 9520 units

4 0
2 years ago
) Market size and growth rates in different countries can be influenced positively or negatively by A. E) the absence or presenc
tatyana61 [14]

Answer:

B. A) population sizes, income levels and cultural influences, the current state of the infrastructure, and distribution and retail networks available. 

Explanation:

In a country where population is high, the demand for goods and services would be high and this would stimulate market growth. On the other hand, in a country where population is low, demand for products would be low and this can hinder market growth.

In a country where income level is high, demand for goods and services would also be high and this would stimulate market growth. The opposite is the case when income is low.

The presence of good infrastructure in a country enhances innovation and production and this can lead to market growth.

The presence of a strong and good retail network to enhance distribution of goods and services can lead to market growth as it assures producers of efficient distribution of goods and services produced.

I hope my answer helps you

3 0
3 years ago
According to Lucas and​ Sargent, workers and firms have rational​ expectations, and therefore if the Fed pursues an expansionary
NeX [460]

Answer:

D. agents will immediately adjust their expectations of inflation up.

Explanation:

Expansionary monetary​ policies are geared towards stimulating economic growth. The Fed can impose lower interest rates or purchase bonds and securities in open market operations as expansionary tools. Lowering interest rates encourages banks and other lending institutions to lend money to firms and households.  

Purchasing bonds and securities adds money to the banking system. The increased money will be loaned out to businesses and individuals. The availability of low-cost credit motivates firms to borrow and expands their business capacities. When households borrow with ease, it leads to an increase in consumption expenditure.  These actions result in too much money in circulation, which is inflation.

4 0
3 years ago
The Wood Division of Bramble Corp. manufactures rubber moldings and sells them externally for $45. Its variable cost is $25 per
Lyrx [107]

Answer:

c. $45

Explanation:

Transfer price is the price charged for a product which is transferred to other department/ division / subsidiary of same company / group. The minimum selling price in the absence of any excess capacity is the price available in the market, because the company has demand for the product and it does not lost the sale if transfer not takes place. The product can be sold in the market. So the Transfer price should be $45.

4 0
3 years ago
Read 2 more answers
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