Answer:
d) Competition
Explanation:
According to Rajasekar, J. (2014). <em>Factors affecting effective strategy implementation in a service industry</em> Strategic management process key factors are the role of leadership, the role of culture and the role of organizational structure in strategy implimentation.
On the other hand, "the absence of real competition is either not aware of the need to formulate a strategy and implement it (clarity of strategy) or believe there is no need to do so due to the business structure" (p.177)
Reference: Rajasekar, J. (2014). Factors affecting effective strategy implementation in a service industry: A study of electricity distribution companies in the Sultanate of Oman. International Journal of Business and Social Science, 5(9).
Answer:
Annual payment= $3,250.77
Explanation:
Giving the following information:
You are thinking of purchasing a home. The house costs $300,000. You have $43,000 in cash that you can use as a down payment on the house, but you need to borrow the rest of the purchase price. The bank is offering a 30-year mortgage that requires annual payments and has an interest rate of 6% per year.
FV= 300,000 - 43,000= $257,000
i=6%
n= 30
Annual payment= ?
FV= {A*[(1+i)^n-1]}/i
A= annual deposit
Isolating A:
A= (FV*i)/{[(1+i)^n]-1}
A= (257,000*0.06)/{[1.06^30]-1}= $3,250.77
Answer: The price increses
Explanation: Goes t0 7.00 to 8.50 increses a 1.50
The demand has went up
Answer:
The answer is A
Explanation:
An increase in an effective maximum legal price will do what to prices and quantities sold in a market?
A maximum legal price is an effective tool to control prices. Usually, the price is below its equilibrium. An increase in the maximum legal price will increase prices and the quantities sold will decrease. When prices go up, companies offer more quantities of a product, but consumers demand less.
Answer:
production of individually customized products
Explanation:
Mass customization can be described as when a company produces and delivers market goods and services that are suited to meet the needs of individual customers
It combines the benefit of low cost associated with mass production with the customization of goods.
An example of a product that is mass customized is the mobile phone. A mobile phone is mass produced but due to its software, users are able to modify or customize their phone to suit their needs
Types of Mass customization
- Collaborative customization: In this type of Mass customization, customers and the company work together to create a good or service that meets the unique needs of the consumer.
- Adaptive customization: the good or service created can be further customized by the consumer to suit their needs.
- Transparent customization: unique products are made for each consumer .
- Cosmetic customization: different types of standardized products are made for various groups of customers.
Advantages of Mass customization
- Customer satisfaction increases
- Goods are produced at lower costs
Disadvantages of Mass customization
- It would be difficult for the company to build up stock ahead of time due to the unique needs of the customers
- there would be an increased wait time from the time the order is made till when it is delivered
