The right answer for the question that is being asked and shown above is that: "• set marketing objectives." The first step in the process of creating a marketing plan is to <span>set marketing objectives. The group must know the goals and objectives why they are making a business or something.</span>
The philosophy discussed above is called enabling.
Enabling is providing workers with the education and tools they need to make decisions. Companies can empower workers by enabling them with the knowledge to make decisions that will benefit the company and satisfy the customers in the long run. This will lead to increase in profitability.
Answer:
Social environment.
Explanation:
When businesses collect demographic information on where people live, what they buy, and how they spend their time, they are responding to the social environment. The social environment comprises of values, beliefs, practices, customs and behaviors of a group of people living together in a society and how their actions influence their surroundings or environment.
Demographics can be defined as the study and analysis of the characteristics of a population based on pre-defined factors such as education, race, income, sex or gender, and age.
Additionally, businesses gather, analyze and use demographic informations about people in the target market so as to have a competitive edge or advantage and to help build a strong relationship.
Answer: Options A and C are strengths while options B and D are weaknesses. See explanation below.
Explanation:
a. All employees must take at least five consecutive days off each year.
This is a strength in internal control. This would help to maintain stability in operational process and ensure leave days are effectively utilized. It also prevents staff from taking the leave days in piecemeal and sporadic manner thereby disrupting the operational process and causing team instability. It is also used to ensure leave days are promptly utilised and well accounted for.
b. The accounting department orders merchandise and approves invoices for payment.
This is a weakness in internal control. There should be a check and balance in this regard. In some organizations, proper scrutiny of the vendor and invoice is done by the Procurement Unit and the Expense Control Unit respectively. Even within the accounting department, there is approval hierarchy. Also, the unit within accounting department that is making the order should not be the one to approve the transaction.
c. Cash received over the counter is controlled by the sales clerk, who rings up the sale and places the cash in the register. The daily sales are recorded in the accounting records by the accounting department.
This is a strength in internal control as it ensures checks and balances. Fraud and error can be detected through this means. The accounting department should verify the transactions to the relevant supporting document before recording the transaction in the system.
d. The officer who signs checks need not examine the payment packet because he is confident the amounts are correct.
This is a weakness in internal control in the sense that checks signed by the officer is binding in the court of law. The officer cannot claim ignorance if anything goes wrong. There is therefore a need for proper scrutiny and relevant questions asked before checks are signed.
Answer:
The accounting cost and the economic cost associated with Joe's computer software business is $75,00 and the $165,000 respectively.
Explanation:
The computation of the accounting cost and the economic cost is shown below:
Accounting cost = Other Expenses + Salary paid to himself
= $35000 + $40,000
= $75,000
Economic cost = Accounting cost + Salary expense + Rent expenses
= $75,000 + $65,000 + $25,000
= $165,000
