<u>Explanation:</u>
Business environment refers to the factors pertaining to internal or external to the organisation that affects the working of the organisation. The environment provides threats and challenges for the business organisations. So the business organisations should know about their environment to smoothly function the business activities.
Economic environment means the economic situation in a country that affects the business and consumer behavior in a country. The performance of the organisation can be affected by the buying pattern of the consumers. Economic environment is an external and macro environment factor which affects the business.
Answer:
change management is the most important skill that human resource personnel contribute.
Explanation:
Elaboration stage of an organisation is also called the maturity stage. It is characterised by different units being involved in making decisions.
This slows down speed of decision making.
At this stage there is a need for revitalisation and change in order to make the organisation more efficient.
Change management is the process by which employees in an organisation are prepared and supported when there are far reaching improvements to organisation structure.
It ensures a smooth transition by providing needed information and reducing the stress associated with organisational change.
This is a key skill needed by human resource personnel fusing the elaboration stage
Answer:
$127,400
Explanation:
Gross profit ratio = [(sale - cost) ÷ sale price] × 100
= [($5,000,000 - $3,700,000) ÷ $5,000,000] × 100
= 0.26 × 100
= 26%.
Gross profit on down payment is recognized in 2019:
= Down payment × Gross profit ratio
= $490,000 × 26%
= $127,400
Answer:
A) Design competition
Explanation:
Digital watch manufacturers and manufacturers of analog watches compete against each other because their products basically satisfy the same needs. Each one offers a very different product with its pros and cons, but even though their products are so different, they can be considered substitutes.
In the concept of innovation streams, Curtab is the innovator that is trying to create a sustainable competitive advantage because it works by designing an innovative product while its competitors rely on updating old designs.
Answer:
c. 2.71, and supply is elastic.
Explanation:
The formula to compute the price elasticity of supply is shown below:
Price elasticity of supply = (Percentage change in quantity supplied ÷ percentage change in price)
where,
Change in quantity supplied is
= Q2 - Q1
= 100 t-shirts - 75 t-shirts
= 25 t-shirts
And, an average of quantity supplied is
= (100 + 75) ÷ 2
= 87.5
Change in price is
= P2 - P1
= $20 - $18
= $2
And, the average of price is
= ($20 + $18) ÷ 2
= 19
So, after solving this, the price elasticity of supply is 2.71
