ge is utilizing reverse innovation in order to protect itself from rivals.
<h3>What is
reverse innovation?</h3>
Reverse innovation or trickle-up innovation An innovation is one that is first noticed or used in the developing world before moving to the industrialised world. Dartmouth academicians Vijay Govindarajan and Chris Trimble, as well as General Electric's Jeffrey R. Immelt, popularised the term.
Reverse innovation is the process by which goods developed as low-cost prototypes to satisfy the needs of developing countries, such as battery-powered medical tools in countries with poor infrastructure, are repackaged as low-cost novel goods for Western purchasers.
The approach of innovating in emerging (or developing) markets and then distributing/marketing these inventions in mature ones is known as reverse innovation. Many businesses are creating items in rising markets such as China and India and then distributing them abroad.
To know more about reverse innovation follow the link:
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Answer:
diminishing marginal utility.
Explanation:
The term diminishing marginal utility is used to describe the common pattern whereby each marginal unit of a consumed good provides less of an addition to utility than the previous unit.
In Economics, The law of diminishing marginal utility states that as the unit of a good or service consumed by an individual increases, the additional satisfaction he or she derives from consuming additional units would start decreasing or diminishing as the units of good or service consumed increases.
<em>For example, buying a chocolate bar and eating it may satisfy your cravings but eating another one wouldn't give you as much satisfaction as the first due to diminishing marginal utility. </em>
GDP (gross domestic product) is one of the primary factors used to test the countries economic health. It represents the total dollar value of all goods and services produced over a specific period.
Hope this helps!
Answer:
29.71 per machine-hour
Explanation:
Buker corporation has an estimated machine hours of 74,000
The estimated variable manufacturing overhead is 7.67 per-machine hour
The estimated total fixed manufacturing overhead is $1,630,960
The first step is to calculate the estimated overhead cost
= (74,000×7.67) + $1,630,960
= 567,580 + $1,630,960
= $2,198,540
Therefore, the predetermined overhead rate can be calculated as follows
Predetermined Overhead rate= Estimated manufacturing overhead cost/Estimated machine hours allocated
= $2,198,540/74,000
= 29.71 per machine-hour
Hence predetermined overhead rate for the recently completed year was closest to 29.71 per machine-hour
Answer:
Using EMV analysis, the number of units of the new product should be purchased for resale = Purchase 7.
The maximum EMV of profit you can make is 270.
Explanation:
We can use the following method to solve the given problem
Solution:
Using EMV analysis,
EMV (Purchase 6 for resale)= 6(40)(0.1) + 6(40)(0.4) + 6(40)(0.5)=240
EMV (Purchase 7 for resale) = [6(40)-60](0.1) +7(40)(0.4) + 7 (40)(0.5) = 270
EMV (Purchase 8 for resale) = [6(40)-2(60)] (0.1) + [7 (40) - 60] (0.4) + 8(40)(0.5)= 260
Largest EMV= 270; Choose to purchase 7 units for resale.
