Answer:
1. The question that you should ask during the development of strategic goals for the organization is:
a. Should our company focus more on giving things away, or on selling things for a reduced price to those in need?
2. The time-frame that the group should consider for this plan is:
b. Long-term (Five years or more)
Explanation:
A strategic plan is made up of the organization's mission, vision, and values, as well as its long-term goals. These are backed up with the action plans for attaining the long-term goals. A strategic plan should involve the whole of the organization and remain futuristic. It does not concentrate on short-term objectives. Instead, a strategic plan concentrates on long-term goals with its duration period lasting five years or more.
Answer:
customer group
Explanation:
Customer departmentalization is where the organization’s activities are ready to respond to and interact with specific customers or customer groups.
This organizational form is used when great emphasis is placed on effectively serving different customer types.
If Southeastern Bank organizes its loan operation based on customers group, this will allow Southeastern Bank to better serve borrowers with different needs by offering customized loan arrangements according to the customers preferences.
<u>Advantages of customer departmentalization
</u>
- Encourages concentration on customer needs.
- Gives customers feeling that they have an understanding supplier (banker).
- Develops expertness in the customer area.
Answer:
The annual payment at the end of each year: $4,572.23
Explanation:
The formular for calculating Present value of Annuity is applied in this case to help us find the equal annual payment.
Applying information in the question, we have the annuity that have:
n= 10 as there are 10 equal annual payments paid at the end of each year during 10 years;
i = 8.5% per annum compounded annually, as stated in the question;
PV = Borrowed amount = $30,000;
C = the equal annual payment.
The formular for PV of Annuity: PV = (C/i) x [ 1- (1+i)^(-n)] <=> C = (PV x i) / [ 1- (1+i)^(-n)]
Thus, C = (30,000 x 8.5%) / [ 1- 1.085^(-10) ] = $4,572.23
Answer:
Joan will pay income tax on the $10,000 she withdrew in 2018.
Explanation:
When withdrawing from traditional retirement account, the following rules apply:
1. Withdrawals before attaining the age of 59.5 years attract a penalty of 10%, along with income tax on the amount withdrawn.
2. Withdrawals after the age of 59.5 years are treated as income, so income tax is paid on it. In this case tax on the $10,000 withdrawn.
3. At age 70.5 and above you must take the Required Minimum Distribution (RMD) from the pension account.
Note: Roth IRA does not attract tax payments for ages 59.5 years and above, unlike traditional IRA that attracts income tax.
RMD payments does not apply for Roth IRA.
