Explanation:
Let us understand the terms with examples:
Avoiding a risk: A risk which is pre-identified and which would create huge loss for the ongoing task can be avoided.
For example:
If there is a deadline for a project and there are only few more days to complete, then planning a training program on soft skill will be a riskier one. So training program can be planned sometimes later, thus avoiding risk.
Transferring a risk: Normally this will be mentioned in the project contract. If there is an issue and the employees of the company are already filled with work, then the issue can be outsourced so now the risk is transferred.
Retaining a risk: You can retain the risk if the impact is negligible. Absence of a software developer for 10 days. So the Project manager need not worry about finding an alternate person for that 10 days alone, which might lead to less understanding of flow and may raise more errors if multiple resource work on the content.
Mitigating a risk: The risk will be avoided by taking some preventive measures. For example, if a smart board needs to be sold, a sales team cannot give a good demo hence the sale of product percentage is less. So to avoid this, a training can be arranged to sales team so that it will boost up sales. Others who were absent on training, ll sale less but the impact is minimum.
Answer:
This is an example of quality control
Explanation:
A production process usually involves the action of a variety of things that all perform specific functions towards a common goal, usually the production of a finished good or service. This therefor means that a type of management is needed to ensure that all these aspects are handled in such away that the set organizational needs are met. This can be broadly defined as management control. Management control involves the control and operation aspects of a production process to ensure that the organizational goals are met.
One aspect of management control that is very important in the production environment is quality control. Quality control involves the inspection of the production process and the products to determine the quality. The quality of the process and the products is usually measured against set organizational and production standards. This therefor means that if the process or the production quality falls below the standard, then the quality of the product can be said to be low while if the quality meet or surpass the standards then the quality is high.
Quality control helps companies identify areas that need to be improved, thus raising overall product value.
Answer:
(a) 78.96
(b) 82.99
(c) 5.10
Explanation:
The current stock price can be calculated as follows
= 3.76 × 21
= 78.96
The target stock price in one year can be calculated as follows
= 3.76(1+5.1%)×21
= 3.76×(1+0.051)×21
= 3.76×1.051×21
= 82.99
The implied return on company's stock over one year can be calculated as follows
= 82.99-78.96/78.96
= 4.03/78.96
= 0.0510× 100
= 5.10
Craigmont company's direct materials costs are $4,900,000, its direct labor costs total $8,710,000, and its factory overhead costs total $6,710,000. its prime costs total:_Prime Cost = direct material cost + Direct Labor cost
= $ 4900000 + $ 8710000
= $ 13610000
A high price is the entire direct price of production, such as uncooked materials and exertions. indirect charges, along with utilities, supervisor salaries, and delivery costs, are not blanketed in top charges. corporations want to calculate the prime value of each product manufactured to ensure they are generating earnings.
Industry averages propose top charges need to be between fifty five% and 60%. Years in the past, that range might have been as high as sixty five%. however as the costs of a lease, coverage, and items have risen, it is grown to be extra vital to hold that percent quite tight within that variety.
Learn more about prime cost here:
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Answer: fundamental attribution error
Explanation:
Fundamental attributional errors as a result of judging someone actions based on their past behavior or the person's disposition rather than on the situation that they are in.
An example of fundamental attribution error is in marriages, where a wife assumes her husband is angry with her as he usually is, rather than considering if he had a bad day at work.
