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3 years ago

A good group decision-making approach when the objective is to make sure that every person’s idea is heard is:

Business

1 answer:

Dimas [21]3 years ago

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Answer:

Nominal group technique which is sometimes denoted as NGT is type of decision making approach that first step include identification of problems and then resolve them.

Explanation:

Nominal group technique which is sometimes denoted as NGT is type of decision making approach that first step include identification of problems and then resolve them.

This type of approach want every single member involvement and their ideas to be share among the present group. The main advantage of this approach is that it include every individual participation, chaos or noise between the discussion is less.

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What is the term for the price a dealer pays when purchasing a car from a manufacturer?

devlian [24]

Invoice vs. Retail. ... The invoice price is what the dealer pays for the car from themanufacturer, the price you pay is called the retail price. Meanwhile, the price on the window sticker is the manufacturer's suggested retail price (MSRP), or what themanufacturer hopes the car will sell for.

6 0

3 years ago

Read 2 more answers

Identify one environmental factor or risk that affects the decision-making opportunities within your organization. Provide a bri

Aneli [31]

Answer:

Explanation:

Businesses can be affected by various environmental facors as political, economic, social and technological facors (PEST). All of these factors influence the decision making within the organization.

Let's briefly describe each of the factors:

1. Political factors: In some countries there are subsidiaries and tax exemptions for running a particular businesses. For example, tax exemptions for those doing green business or producing electric cars. In order to adress such risks, business people should investigate about legislation and political environment of countries.

2. Economic factors: Businesses are affected by economic well being of the market where it is based. For example, market largely differs in European ccountries and Central Asian countries. Most of the countries in Central Asia are developing countries, whereas European countries are developed and have economic stability. To handle such risks, businessman should research the potential markets on the issues of inflation rate, average income of people and etc.

3. Social factors: How society views the markets and what it demands. Some support green initiatives and want zero waist products and etc.

4. Technological environment: In case of electro cars, if there are no energy for charging them that could be the potential issue. Or if market is not really technologically advanced, business will need to educate the market about their innovational products and etc.

In order to manage such concerns there should be particular research and investigations held and of course financial requirements are important and should be met for budgeting purposes.

8 0

3 years ago

As the benefit of consuming more of a good falls with each additional unit, the price consumers are willing and able to pay also

eduard

As the benefit of consuming more of a good falls with each additional unit, the price consumers are willing and able to pay also falls with increased consumption. this scenario describes a downward-sloping demand curve

<h3>What is a Demand Curve?</h3>

This refers to the graph or pictorial representation that shows how the demand for a commodity or service varies with changes in its price.

Hence, we can see that As the benefit of consuming more of a good falls with each additional unit, the price consumers are willing and able to pay also falls with increased consumption. this scenario describes a downward-sloping demand curve

Read more about demand curve here:

brainly.com/question/9387886

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7 0

1 year ago

DiskSan has to order flash transistors ($5 each) to create USB flash memory drives. Their monthly demand is 10,000 units, their

Bingel [31]

Answer

Economic order quantity will be 447.21

Explanation:

We have given monthly demand = 10000 units

We know that 1 year = 12 month

So Annual demand (D) = monthly demand × 12 months = 10000 × 12 = 120000 units

Cost of transistor = $5 per unit

Monthly Holding cost = 10% of cost = 10% of $5 = $0.50

So annual holding cost (H) = monthly holding cost × 12 = $0.50 × 12 = $6

Setup cost(S) = $5

We know that economic order quantity is given by

Economic order quantity = $\sqrt{\frac{2DS}{H}}=\sqrt{\frac{2\times 12000\times 5}{6}}=447.21$

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3 years ago

McMurphy Corporation produces a part that is used in the manufacture of one of its products. The costs associated with the produ

larisa [96]

Answer:

Opportunity cost ($481,000) is greater than the total production cost ($356,000). McMurphy corporation should produce the products by itself instead of buying from Conners Company since the production costs are lower than purchase cost

Explanation:

Determine the total cost associated with the production of the units as follows;

T=M+L+V+F

where;

T=total costs

M=direct materials cost

L=direct labor costs

V=variable factory overhead costs

F=fixed factory overhead costs

In our case;

M=$88,000

L=$127,000

V=$59,000

F=$137,000

replacing;

T=(88,000+127,000+59,000+137,000)=$411,000

Total costs=$411,000

Assuming the McMurphy avoids 55,000 fixed factory overhead cost;

Total costs=411,000-55,000=$356,000

The opportunity cost if McMurphy Corporation decides to purchase the units from Conners Company instead of producing them will be;

Opportunity cost=cost per unit×number of units

cost per unit=$37

number of units=13,000 units

Opportunity cost=37×13,000=$481,000

5 0

3 years ago