The alternative combinations of goods and services that could be produced with all available resources and technology is the production possibilities.
Answer:
they set up a committee to establish a procedure for making decisions that are in the best interests of the corporation.
Explanation:
The business judgment rule provides corporate officers and directors protection when they set up a committee to establish a procedure for making decisions that are in the best interests of the corporation.
Generally, the business judgment rule is a legal principle that primarily protect the board of directors from breach of fiduciary duty liability, in as much as the directors acted in good faith of the shareholders and ensuring a logical and well informed decision-making process.
The fiduciary duty liability of the corporate officers and directors of an organization to its shareholders are duty of loyalty, care, prudence, which implies, they'll always make the interest of the corporation and its shareholders a high level priority.
Hence, the business judgment rule is aimed at protecting and mitigating the risks faced by corporate officers and directors in the event of litigations because it is assumed that they're acting in the interest or favor of the corporation and its shareholders.
Answer:
The definition becomes defined in the clarification section below, as per the particular circumstance.
Explanation:
<u>Meeting customer expectation</u>:
- This metric of success would reflect just how much the clients are represented. It will represent the quality of the service of the business and will provide them with crucial input. This metric would help the organization address the trouble areas. If the degree of customer loyalty rises, sales will also rise because more and more clients enjoy the company’s products or services.
- This would also show the pattern of clients as well during the company's measures to handle the issue.
<u>Productivity</u>:
- This is a significant parameter that indicates how much is expended on activities and whether the business gets in exchange. It extends from financial return with the introduction of new goods from marketing and distribution activities to return on invested capital. Productivity is closely linked to organizational financial efficiency.
- When productivity rises, profits rise as well. In terms of their historical and present performance, data analytics can help to decide how and why the multiple fields work.
<u>Cash flow</u>:
- It explains how well the cash flows within and without the organization. If the business later collects reimbursement from consumers but earlier pays its vendors, then it suggests significant operating inefficiency.
- These efficiencies should be worked out by the organization to minimize operational expenses and preserve favorable cash flow to boost the company's financial well-being.
The set of processes used to get members of an organization to work together to further the interest of the organization is called organizational goals.
The company typically starts out by doing a SWOT (strengths, weakness, opportunities, threats) analysis to determine what is most important for the company to proceed with and prioritize. They then determine what is expected of members of the organization to accurately complete their goals.
Answer: The answer is provided below
Explanation:
1. The following are the business activities that takes place from the moment a customer arrives to the moment the customer leaves my favorite fast-food restaurant.
The first thing is welcoming the customer to the restaurant, after the customer sits down, a waiter for to the customer and gives the menu to the customer for him or her to choose the kind of meal he or she wants. After the customer has chosen the meal, the order is received and then filled. The food is then brought to the customer with an accompanying bill for the customer to make payment. Lastly, when the customer has finished eating, the waiter and security at the gate thanks him or her on their way out.
2. The costs are:
i. The salary of the staffs at the restaurant. This include the waiter, cook, security, manager, cleaners etc.
ii. Utility bills such as electricity and water.
iii. Rent of the building.
iv. Cost of the ingredients for the meals.
3. Fixed cost is a cost which doesn't vary with the production output while variable costs are the costs that varies with output. For the (ii) above, the fixed costs are: salary of staffs, rent, utility bills because these costs doesn't usually change while the variable cost is the cost of the ingredients for the meals.
