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daser333 [38]
4 years ago
7

Ortein, a shoe manufacturing company, wanted to cut costs and hence laid off half its employees from two of its departments. It

then made the departments share free resources with each other. This sharing of resources led to the company improving the overall productivity of the two departments, and it also helped in reducing costs. This approach is an example of _________.
a) dominance
b) synergy
c) anarchy
d) compromise
Business
1 answer:
jonny [76]4 years ago
4 0

Answer:

b) synergy

Explanation:

Synergy -

It describes the benefit gain by strategically organizing itself to maximize  innovation and cooperation .

These organization with synergic approach achieves more as a group than with individual .

hence , in the question , the approach shown by the Ortein company is an example of b) synergy .

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What are the advantages and disadvantages of a stakeholder
astra-53 [7]
The key benefits of having stakeholders include:

• Valuable opinions, views and suggestions of the powerful stakeholders can help you shape your project while it is still in its nascent stage.

This can significantly improve the quality of your project.

• When you have powerful stakeholders supporting you, you have access to useful resources as well.

This way, the likelihood of your project hitting higher success levels is higher.

• The active participation of your stakeholders in your project will make them understand the nature of your project and they can then contribute by actively supporting your project.

• By envisaging in advance the reaction of people to your project, you can build into your plan the actions that will win you people's support.
4 0
4 years ago
A. Describe circumstances where price ceilings and price floors might be appropriate.
Finger [1]

Answer:

A. Price Ceiling: Staple Food (e.g. bread)

Price Floor: Minimum Wage

B. Protected civilians from high prices BUT shortage led to a rationing system

C. War industries were already using too many goods and civilians’ standard of living had to be prevented from falling too low.

Explanation:

A. A price ceiling is the maximum amount that can be charged for a particular good or service. In order for a price ceiling to be effective, it should be below the market equilibrium point where supply meets demand. Price ceilings are commonly set for staple foods and essential items such as bread or energy in order to prevent them from rising too high and being unaffordable by consumers.

A price floor is the minimum price that can be charged for a particular good or service. In order for a price floor to be effective, it should be above the market equilibrium point where demand meets supply. A common example is minimum wage. This is imposed in order to protect employers from exploiting laborers and paying them low wages for their service. With a price floor, paying below the minimum wage is an offense. This also helps to reduce unemployment since people now have an incentive to work due to higher pay.

B. During World War II, consumer demand for goods and services were very high. In order to protect consumers from prices rising too high, price ceilings were set.

However, government intervention in the form of price controls meant that the price was not at the market equilibrium where quantity demanded met quantity supplied. This lower price led to a higher demand than supply, creating a shortage in the market. Consequently, goods had to be provided through a rationing system.

C. The reason for setting a price ceiling on agricultural products during the war is that the government was already using a lot of resources for war industries, which created a shortage of goods. Agricultural foods contain essential goods such as rice, wheat, fruits and vegetables. If prices of these rise too high due to high demand, civilians will not be able to afford them. Without consumption of these, civilian standard of living would drop dramatically.

3 0
4 years ago
How much potential money could be created from a new deposit of $2,000 and with a reserve ratio of 10%? How would it affect the
Ghella [55]

Answer:

To calculate the effect of the bank's ability to create money with a decrease in reserve ratio.

Given:

New deposits= $2000, Reserve ratio= 10 percent

To calculate the money multiplier= 1/10%= 1/0.1= 10

To calculate the money that was created we multiply the multiplier by the new deposits.

Therefore: 10*2000= $20,000

To calculate the amount created when the reserve ratio is 5%

To calculate the money multiplier= 1/5%= 1/0.05= 20

Therefore the money created will be 20*2000= $40,000

Based on $20000 extra gained, a decrease in the reserve ratio to 5% will lead to an increase in the capacity f the bank to make more money.

Explanation:

To calculate the effect of the bank's ability to create money with a decrease in reserve ratio.

Given:

New deposits= $2000, Reserve ratio= 10 percent

To calculate the money multiplier= 1/10%= 1/0.1= 10

To calculate the money that was created we multiply the multiplier by the new deposits.

Therefore: 10*2000= $20,000

To calculate the amount created when the reserve ratio is 5%

To calculate the money multiplier= 1/5%= 1/0.05= 20

Therefore the money created will be 20*2000= $40,000

Based on $20000 extra gained, a decrease in the reserve ratio to 5% will lead to an increase in the capacity f the bank to make more money.

7 0
3 years ago
4. What is Relationship Analysis? 5. How does the Analogy technique work to create new concepts?
attashe74 [19]

Answer:

4. Relationship analysis, often referred to as customer relationship analytics, is known as the processing of information and data about their customers and the relationship that is established with the organization or enterprise , this is done in order to generate more sales and service also to lower the cost.

5. The principle or base of the Analogy technique is mostly grounded on identifying the typical factors and features of concerning problem, and thus finding situations, objects, or the places that also tends to have these same features; and therefore using them as the mental stimuli in order to solve the concerning problem.

7 0
3 years ago
A business that is owned and operated by a single individual is know as what kind of proprietorship?
tatuchka [14]

Answer: Sole Proprietorship

Explanation:

7 0
4 years ago
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