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Alex_Xolod [135]
2 years ago
5

- Name the six business management perspectives that go beyond planning, controlling, and decision making?

Business
1 answer:
wel2 years ago
7 0

Answer 4:

Following are the six business management perspective:

  1. Ethical Stance
  2. Strategic aspects of the decision
  3. Risk Management
  4. CSR Aspect
  5. Process Management Aspects
  6. Leaders Perspective

Answer 5:

IMA stands for Institute for Management Accountants.

The IMA Statement of Ethical Professional Practice has listed following four standards for the professionals who are member of IMA to comply with:

  1. Competence: The member must be competent in his role in accordance to his experience, skills, knowledge, complying laws & regulation and always acting ethically.
  2. Confidentiality: Must not breach the confidentiality implied duty on him except in situations when disclosure of information is mandatory by law.
  3. Integrity: Must be straight forward and there must be no self interest in his dealings with the company and must considerably reduced.
  4. Credibility: Communicate the results with unbiased decision making.

Answer 6:

Because freedom does not means that our self interest is everything. We owe duty of care to people who rely on our acts. An accountant, auditor or internal auditor must act ethically or universally that benefits everyone without breaking the laws and ethical duties imposed by the professional bodies. If we go back to Enron case, we see that the External auditor was not acting in the public interest and as a result Enron which was the world's first $100 billion dollars company collapsed. The collapse of Enron bankrupt many pension companies which further affected the lives of the ordinary person in the USA. Furthermore, due to collapse of Enron, a lot of people withdraw the amount invested in Stock exchange. Dozens of companies and millions of people suffered from this unethical behaviour of professionals.

Answer 7:

Corporate Social Responsibility means that the company is just like an human being and its operations must not harm the environment, so this the least duty which the stakeholders expect from them. Being a good social beings, the companies must try to stable the environment situation in its surrounding and wherever its stakeholders live. For Example, The refinery companies have stopped poluting the oceans with their oil spills, now they have opted to newest technology that will eliminate the harmful effects of their oil spills and bring stability in the environment.

Another example includes the lower usage of natural resources. In UK it is the companies responsibility to reduce its natural resources usage which will lower the pollution. This additional care has a cost and may lead to lower competitiveness of the products so there must be a law globally that enforces to act socially responsible.

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1. The classical dichotomy and the neutrality of money The classical dichotomy is the separation of real and nominal variables.
Archy [21]

Answer:

These two options represent nominal values:

-The price of a beignet is $3.00 in 2011.

-Maria's wage is $27.00 per hour in 2011.

They are expressed in monetary value without taking into account inflation, or without being represented in terms of something else.

This option represents real value:

-The price of a beignet is 0.33 paperback novels in 2011.

The price of a beignet, nominally $3.00 is being expressed in relation to the price of something else: paperback novels, whose nominal price is $9.00.

In other words, in real terms, a beignet costs a third of what a paperback novel costs.

8 0
3 years ago
(Inspired by the events in the Montreal cement market in 1966.) You are the CEO of Independent Cement (IC), and are considering
pychu [463]

Answer:

1) C.C. is currently selling at $ 12. So, if I.C.'s price is equal to C.C.'s it can sell to all the 400 customers. Hence, IC should keep the price at $12. The CC's price after price determination by IC will be $ 11 as doing so, CC will be able to sell to all 400 customers. Expected profits of IC will be as follows:

Sales =12 *400

Less : Marginal cost = 3*400

Expected profits = $ 3600

(2) If IC builds a small plant, then it can sell upto its capacity i.e. 100 units to 100 customers, if its price is no greater than IC. So IC can keep its price at $ 12. Expected profits of IC = 100 *12 less marginal cost i.e. 3*100 = $ 900.

As a result of above, CC will keep its price either 11 or 12.

Case 1( If CC's price is 11)

Expected profits = sales- marginal cost = 400* 11 - Marginal cost i.e. 4 * 400= 2800

Case 2 ( If CC's price is 12)

Expected profits = sales- marginal cost = 300* 12- Marginal cost i.e. 4* 300 =2400

So, CC's price would be $ 11 as it leads to maximisation of his profits

(3) The choice of size of plant will be dependent upon the profits and is driven by profit maximisation factor.

Case 1 ( If small plant is chosen)

Sales = 100 * 12

Less : Marginal cost = 100 * 3

Profits = $ 900

Case 2 ( If large plant is chosen, we should keep our price at 11 as CC would always keep the price at 11 , not 12 as it maximises its profit at 11)

Sales = 400 * 11

Less marginal cost : 3 * 400

Profits = 3200

Hence, large plant should be chosen

4 0
3 years ago
Perfect​ Clean, Inc. provides housekeeping services. The following financial data have been provided. Service Revenue $ 70 comma
Dennis_Churaev [7]

Answer:

The contribution margin is $29,650

The contribution margin ratio is 42.35%

Explanation:

Contribution Margin : The contribution margin shows a difference between sales revenue and variable cost.

For computing the contribution margin, the following formula is used which is shown below:

= Service revenue - Cleaning supplies - wages expenses

= $70,000 - $22,000 - $18,350

=$29,650

Thus, the contribution margin is $29,650

Now, the contribution margin ratio is a ratio between contribution margin and sales.

In mathematically,

Contribution margin ratio = Contribution ÷ Service revenue

                                          = $29,650 ÷ $70,000

                                          = 42.35%

Hence, the contribution margin ratio is 42.35%

5 0
3 years ago
Rosario, a department manager, has been dealing with two workers in her department who do not get along. Due to family problems
Degger [83]

Answer:

The correct answer would be option C, Disturbance Handler.

Explanation:

A Disturbance Handler is usually the manager who takes charge when an unexpected dispute or roadblock arises within the team of the organization. So in the given question, when two workers in his department could not go along and had a harsh argument with each other due to some family problem between them, Rosario meets both of them to resolve the issue between them. He, being a manager, played the managerial role of Disturbance Handler to make them come to a conclusion and stop their arguments. He is basically handling the disturbance, caused by both employees on the workplace.

5 0
3 years ago
Recession, inflation, and high interest rates are economic events that are best characterized as being Group of answer choices i
katrin2010 [14]

Answer:

among the factors that are responsible for market risk.

Explanation:

Systemic risk are risk that are inherent in the economy. They cannot be diversified away. They are also known as market risk. examples of this risk include recession, inflation, and high interest rates. Investors should seek compensation for systemic risk. Systemic risk is measured by beta. The higher beta is, the higher the systemic risk and the higher the compensation demanded for by investors

Non systemic risk are risks that can be diversified away. they are also called company specific risk. Examples of this type of risk is a manager engaging in fraudulent activities.

5 0
3 years ago
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