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3 years ago

Use your understanding of the strategic management process to complete the sentences below.

1 answer:

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A firm’s Strategy is the plan of action that describes resource allocation and activities for dealing with the environment, achieving a competitive advantage, and attaining the organization’s goals.

Explanation:

By acquiring a technology company that develops smartphone apps, a video-streaming business hopes to achieve Synergy , combining its video rights with mobile technology to increase profits.

Element of Competitive Advantage

Drybar, which started in Brentwood, California, in 2010, is a hair salon catering entirely to people with curly or frizzy hair who want their hair straightened. No cuts, perms, or coloring happen here. The store now has over 40 locations-Target Customers

Applewood Seed Co. of Colorado has fifty years of experience growing and supplying native wildflowers, grasses, and herbs to seed distributors, landscapers, golf courses, state highway departments, parks departments, government agencies, garden centers, mining companies, hydroseeders, and reclamation companies. Applewood has both an in-depth horticultural knowledge of native plants and the ability to supply in bulk-Exploit core competencies

A meditation instructor partners with a technology developer to market relaxation apps featuring soothing natural sounds and guided meditation exercises. The tech expert writes the code, and the meditation instructor develops the apps’ content.-Build Synergy

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4) Suppose that when the price of hamburgers increases, the Ruiz family increases their purchases of hot dogs. To the Ruiz famil

BigorU [14]

Answer:

D) hamburgers and hot dogs are substitutes.

Explanation:

Option A is incorrect. When the price of one good increases, the demand for other good decreases. It is called complementary goods. In this question, due to the increase in the price of hamburgers, the Ruiz family started taking hot dogs. Therefore, hot dogs price is not increasing. Therefore, it is a substitute good. Substitute goods state that the increase in the price of one good leads to the increase in demand for another good. Therefore, option D is correct.

Normal goods and inferior goods are related to income, so those are not answers.

3 0

3 years ago

Part A Smith Company experienced the following accounting events during 2018:

ValentinkaMS [17]

Answer:

1. Cash (Dr.) $2,000

Common Stock (Cr.) $2,000

2. Accounts Receivable (Dr.) $1,500

Revenue (Cr.) $1,500

3. Cash (Dr.) $1,200

Accounts Receivable (Cr.) $1,200

4. Salaries expense accrued (Dr.) $900

Salaries payable (Cr.) $900

5. Salary Payable (Dr.) $700

Cash (Cr.) $700

6. Dividends paid (Dr.) $100

Cash (Cr.) $100

7.Prepaid Insurance (Dr.) $360

Cash (Cr.) $360

8. Cash (Dr.) $2,880

Unearned revenue (Cr.) $2,880

9. Insurance Expense (Dr.) $290

Prepaid Insurance (Cr.) $290

10. Unearned revenue (Dr.) $2,880

Revenue (Cr.) $2,880.

Explanation:

Smith company has started its business and incurred the transactions. These transactions need to be recorded to charge each and every expense in their respective accounts. The expenses are recorded in the journal entries and then ledger accounts will be formed to summaries all the expenses in their respective account heads.

6 0

3 years ago

cost variance Tercer reports the following for one of its products. Direct materials standard (4 lbs. @ $2 per lb.) $ 8 per fini

maksim [4K]

Answer:

Total direct materials cost variance is $66,000 and it is favorable.

Explanation:

Actual cost = Actual Quantity × Actual Price

= 300,000 × $1.78

= $534,000

Actual cost with selling price = Actual Quantity × Selling Price

= 300,000 × $2.00

= $600,000

The total direct materials cost variance is computed as:

Total direct materials cost variance = Actual cost with selling price - Actual Cost

= $600,000 - $534,000

= $66,000

It is favorable.

Working Note:

Actual Price per lbs = $534,000 / 300,000

= $1.78

8 0

3 years ago

John's friend just gave him a pair of concert tickets to see his favorite rock group perform this weekend. Each ticket sells for

Len [333]

Answer:

$80 lost for not working

Explanation:

Opportunity cost refers to the sacrificed benefits as a result of preferring on a particular option over another. As people make choices, the forfeit one option in favor of another. Opportunity cost is the missed value of the next best alternative.

For John, he has a choice between working or going to the concert. He has two tickets worth $50. Working would mean her twice her regular income, which is $20 per hour. If he works for four hours, his total earning will be $80. If John chooses to go to the concert, he will miss the opportunity to earn $80. The opportunity cost will be the missed $80 that he would have received from working.

6 0

3 years ago

Company A has a shorter Average Collection Period than Company B using the formula 365 / (Credit Sales / Average AR Balance). Wh

Irina-Kira [14]

Answer:

Statement B is correct

Explanation:

Provided Information that,

Company A has shorter Average Collection Period than Company B,

Average Collection Period refers to the period in which the cash is collected from debtors.

Thus in the given statements only statement B states that Company A is more efficient in collecting receivables from debtors, thus it is the correct statement.

Statement A is wrong as Company A has less Average Collection Period, thus it's credit sales percentage would be higher than Company B.

Statement C which states about generating revenue is not correct as the company might have cash sales.

Statement B is correct

3 0

3 years ago