Donna independently owns and operates Punkin's Pies, a small business with about 30 employees. She is happy with the size of her business and the average profits it generates. From this scenario, Donna's business can be considered an entrepreneurial venture - False.
<u>Explanation:</u>
A person starting a new business with limited amount of resources and plans is called an Entrepreneur. He is the person who takes responsibilities for the risk and rewards that are associated with that business. The idea of the business must be unique and it should focus only on newer products.
A small business and an entrepreneurial ventures differs from each other although they have similar roles. A small business generally deals with a familiar and an product and services that are already established. The persons of small business usually have risks that are already known. In an entrepreneurial venture, only new products and unknown risks are present.
Answer: D. Discouraged Worker
Explanation:
a discouraged worker is a person of legal employment age who is not actively seeking employment or who has not found employment after long-term unemployment
Answer:
When companies hire celebrities to advertise their products, they are attempting to make the demand for their product higher / more profitable. If this strategy is successful, the firm can raise both awareness and reputation / sales.
Explanation:
"Celebrity endorsement is a promotional tool that boosts brand awareness. It is a way of enhancing credibility and gaining visibility for brands. Celebrities are well-known people and a celebrity endorsement can make a brand stand out"
Reference: Elkins, Hashaw. “The Effect of Celebrities in Advertisements.” Small Business - Chron.com, 29 Mar. 2019
The buyer value is a concept that is more important to the customers. This refers to the amount that the buyers are expecting out of the purchase of some goods. If I bought a book at a price of $40 then, I loss $10 in the process because as a buyer I expect to pay only $30.
Answer:
Answer:
1. MCE = 21.42%
2. Delivery Cycle Time 22 days
Explanation:
The Manufacturing Cycle Time is given by the formula:
Manufacturing cycle time = Inspection Time + Process Time + Move Time + Queue time
Here we have
Inspection time =1.5 days
Processing time =3.0 days
Move time =2.5 days
Queue time= 7.0 days
Wait time= 8.0 days
Manufacturing Cycle Time = 1.5+3.0+2.5+ 7.0= 14.0 days
MCE= Manufacturing Cycle Efficiency Time= Process Time/ Processing Time + Inspection Time + Move Time + Queue time
MCE = 3/ 14=0.2142= 21.42%
It means that MCE consists of 21.42 %actual processing and 79 % consists of non value added activities.
2. Delivery Cycle Time= Manufacturing Cycle Time + Wait time
Delivery Cycle Time= 14.0 days + 8.0 days= 22.0 days
The difference between wait time and queue time is that wait time is the time when the customer places an order until it is delivered.And queue time from the start of the production of the order.
