Answer:
a. Quality Software - Prescriptive Analytics
b. ABC Supermarket - Descriptive Analytics
c. Global Hospitality - Diagnostic Analytics
d. XYZ - Predictive Analytics
e. Manufacturing - Descriptive Analytics
Explanation:
Descriptive analytics is the strategy which uses the past data and creates a summary for historical data to create future analysis.
Predictive Analytics is the strategy which uses statistical calculations and models to predict the future.
Diagnostic Analytics is the strategy which the analyst observes the past event and then examines why certain situation happened. This is used by analysts to make sure that historic mistakes are not repeated.
Prescriptive Analytics is the strategy in which strategic planning is made after the operational activities are analyzed and then strategies are formed in order to plan future performance.
Answer: Ford manufactures a car in Michigan, but uses parts sourced from 27 countries
Explanation:
Globalization is the process by which businesses or organizations develop international influence or a situation whereby they start operating on international scale.
Globalization of production has to do with the producers of final finished goods relocating and moving to other parts of the world in order to source for the necessary raw materials or equipments needed to complete a product and assemble all of them at their facility.
Based on this definition, Ford manufactures a car in Michigan, but uses parts sourced from 27 countries is the right answer.
Answer:
$116.28
Explanation:
This can be calculated as follows:
Mark up = [1 ÷ (1 - Lerner index)]
Price = Mark-up × Marginal cost
= [1 ÷ (1 - 0.57)] × $50
Price = [1 ÷ 0.43] × $50 = $116.28
Therefore, the price this firm will charge its customers is $116.28.
Answer:
Structural frame
Explanation:
Structural frame of an organisation is how the systems are structured including goals, technology, roles of different staff, and relationships. All other frames are dependent on the structural frame, the manager should make sure it achieves the business goals efficiency.
The four frame business model is made up of: structural frame, human resource frame, political frame, and symbolic frame.
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