1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
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.

You might be interested in
When the price of wood (which is an input in the production of furniture) falls, the consumer surplus associated with the consum
Novosadov [1.4K]
The consumer surplus associated with the consumption of furniture increases. Wood is an input in the production of furniture therefore it constitutes the cost of production, the decrease in the price of wood would therefore mean a decrease in the production cost. A decrease in the cost of production in turn causes a decrease in the buying price of furniture and therefore, consumer surplus increases. 
8 0
3 years ago
Why did Guardbark want people to not disturb the trees?
vichka [17]

Answer:

Why did the Guardbark want people to leave trees alone? ... He wanted the trees to be left alone because they give us oxygen and are the habitats of lots of diverse species.

I found this answer on google so I hope this helps.

3 0
3 years ago
Read 2 more answers
Suppose a firm’s managers receive bonuses that increase with the size of the firm’s ROE, which was 30% last year and is forecast
kherson [118]

Answer:

.b. The new project should be rejected because, if it is accepted, the firm's ROE will decline from 30% because the new ROE will be a weighted average of the old 30% and the 20% returns on the new investment

Explanation:

ROE means return on equity

ROE = Net income / shareholders equity

A project should be undertaken if the ROE of the project is greater than the cost of equity

3 0
3 years ago
Beck Company has inventory of​ $725,000 in its stores as of December 31. It also has two shipments in transit that left the​ sup
FrozenT [24]

Answer:

Total Inventory            $899,000

Explanation:

Inventory at hand            $725,000

Inventory in transit     $102,000

Inventory in consignation   $72,000

Total Inventory            $899,000

<u>Notice:</u>

<em> The first cargo </em>is under term FOB destination, which means the goods are still property of the seller, so are not part of Beck company's yet.

<em>While the second cargo</em> is fob shipping point, Beck assume possesion of the gods as soon as they enter the dock.

3 0
3 years ago
Thomas was thinking about the car he wants to buy in a few years. He does not know what he should do now so that he
Kipish [7]
I believe that the answer is D. That he should become knowledgeable about smart ways to save and about car loans
7 0
2 years ago
Other questions:
  • A candy manufacturer that made candy at a lower cost without improving the quality of the candy could be said to ________. incre
    6·1 answer
  • Pat shopped at Target for new summer shorts. After trying on three different brands and price comparing, he decided to buy the D
    15·1 answer
  • In negotiations the ________ task involves how the benefits of the relationship will be allocated between the parties. distribut
    9·1 answer
  • Susan can bake 200 cookies in an hour or watch her favorite tv show. If she chooses to watch her show, her opportunity cost is
    12·1 answer
  • The production possibilities curves suggest that:A) West Mudville should specialize in, and export, baseball bats.B) workers wil
    6·1 answer
  • Which of these companies is taking advantage of the globalization of production?
    10·1 answer
  • Scientific managment principals are out dated today business managment. comment on​
    10·1 answer
  • Q: Research topic: CORONA-19: Asian stock markets and vaccine hopes
    6·1 answer
  • For 2020, your company planned on selling 10,000 units of its highest priced product - Fish Sticks, which is also its highest ma
    12·1 answer
  • Derek, a single taxpayer, has agi of $55,200 which includes $5,000 of qualified dividends. derek does not itemize deductions. wh
    15·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!