The answer is C) 5 years
Most companies start as small start-ups with little in funding. In the early years of a business, the founders would be most involved in only 2 things, either selling or manufacturing/development.
The early years of a business is linked to survival and growth. It is natural for the founders to not be able to focus on operational excellence.
However, as the company starts to make a profit, the founders are able to work on developing new processes to streamline everything and make it more manageable.
It can take up to 5 years before a company can reach organizational excellence.
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Answer:
False
Explanation:
Ordering costs are the costs incurred when materials are requested for. These components of this cost are:- 1)Clerical and administrative costs involved in purchasing and accounting for the goods ordered.
2)Cost of transportation
3)Retooling cost: This happens when the product is manufactured internally. Retooling means change of working tools.
4)Insurance while in transit.
5)Drivers' salaries and allowances
6)Loss of materials while in transit.
7)Taxes, custom duties and import duties.
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Answer:
Businesses in free enterprise systems compete with each other to produce better products at better prices. Competition leads to innovation, new ideas and a more competitive market. Competiting allows businesses to control themselves and their ideas in an <em>efficent manner. </em>
<em>However, competition in the free enterprise systmem leads to lower wages and income.</em> It leads to the best product at the lowest price. It leads to a variety of products available to the consumer.
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It all depends on the degree of consumer risk aversion. Some consumers are more likely to be at risk than others. If my propensity for risk in the face of the possibility of a premium is greater, I will prefer the adjustable hypotheca, which gives me the chance to pay less in the end. If I am a risk averse consumer, I will prefer a fixed hypotheque that will give predictability to my budget.
