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Delicious77 [7]
3 years ago
14

Qualitative factors are non-financial in nature but are important for management to consider when making decisions. Reflecting o

n a company for which you have worked (or are otherwise familiar), describe three qualitative factors that would be important for management decision-making. Then, assess each of them in order of importance. Given your assessment, justify a situation where the qualitative factors would outweigh the quantitative results. Be specific.
Business
1 answer:
rosijanka [135]3 years ago
4 0

<u>Explanation:</u>

<u>Three qualitative factors important for management decision-making include:</u>

  • customer satisfaction
  • new technology
  • current legal issues

Assuming these qualitative factors are faced by a soft drink manufacturing company, in terms of their order of importance,

Current legal issues need to be addressed first by management when making decisions in other to avoid having a bad reputation among potential investors.

Next, their customer satisfaction for their product; the soft drink, if left unchecked can result in reduced demand in the future; which management needs to consider when making decisions.

And finally, if there's any introduction of new technology into the industry then management would need to determine its effect on company profit.

For example, In a situation where this company is experiencing an increase in assets which is a quantitative factor while having a decline in customer satisfaction for their products. In the long term, the benefits of having increased customer satisfaction would become evident when demand and profit declines.

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A number of activities that are a part of a company's quality control system are listed below:
KonstantinChe [14]

Answer:

Explanation:

A. Product testing - Appraisal cost

B. Product recalls - External Failure cost

C. Rework labor and overhead - Internal Failure cost

D. Quality circles - Prevention cost

E. Downtime caused by defects - Internal Failure cost

F. Cost of field servicing - External Failure cost

G. Inspection of goods - Appraisal cost

H. Quality engineering -  Prevention cost

I. Warranty repairs - External Failure cost

J. Statistical process control -Prevention cost  

K. Net cost of scrap - Internal Failure cost

L. Depreciation of test equipment - Appraisal cost

M. Returns and allowances arising from poor quality - External Failure cost

N. Disposal of defective products - Internal Failure cost

O. Technical support to suppliers - Prevention cost

P. Systems development - Prevention cost

Q. Warranty replacements -   Internal Failure cost

R. Field testing at customer site - Appraisal cost

S. Product design -  Prevention cost

2. Which of the four types of costs in (1) above are incurred in an effort to keep poor quality of conformance from occurring? Prevention costs and appraisal costs.

Which of the four types or costs in (1) above are incurred because poor quality of conformance has occurred?   Internal failure costs and external failure costs

4 0
3 years ago
Many of the first responders at the chernobyl accident died within hours or days of working at the explosion site. what were the
Ratling [72]

The Chernobyl accident is a disaster involving nuclear explosion. They most likely die from the radiation illness as the radiation was intense that it causes poisoning and even complications such as thyroid cancers. They likely die within an instant because of the radiation illness that they have acquired.

4 0
3 years ago
Suppose that France and Denmark both produce fish and stained glass. France's opportunity cost of producing a pane of stained gl
andriy [413]

Answer:

France has a comparative advantage in the production of stained glass.

Denmark has a comparative advantage in production of fish.

France will gain from trade as long as it gets more than 3 pounds of fish for each pane of stained glass.

Denmark can gain from trade if it gets more than 0.09 pane of stained glass for each pound of fish it exports.

4 pounds of fish per pane of stained glass.

7 pounds of fish per pane of stained glass.

Explanation:

France and Denmark both produce fish and stained glass.

France's opportunity cost of producing a pane of stained glass

= 3 pounds of fish

Denmark's opportunity cost of producing a pane of stained glass

= 11 pounds of fish

France's opportunity cost of producing a pound of fish

= \frac{1}{3}

= 0.33 pane of stained glass

Denmark's opportunity cost of producing a pound of fish

= \frac{1}{11}

= 0.09 pane of stained glass

France has a lower opportunity cost of producing stained glass so we can say it has a comparative advantage in the production of stained glass. While Denmark has a comparative advantage in the production of fish.

If both countries start to trade with each other, France will gain from trade as long as it gets more than 3 pounds of fish for each pane of stained glass.

While Denmark can gain from trade if it gets more than 0.09 pane of stained glass for each pound of fish it exports.

Both the countries will gain from trade if the trade price lies between their opportunity cost. both countries will gain from trade if the price is 4 pounds of fish per pane of stained glass or 7 pounds of fish per pane of stained glass.

8 0
3 years ago
Alex has saved $30 per week to buy a new Blu-Ray player. He compares two different models: a Panaview that is priced at $130 and
podryga [215]

Answer and Explanation:

The classification is as follows:

Alex could easily measured that Panaview have the less price - Unit of account as the money represent the measurement of unit of price  

Alex saved $30 per week - Store of value as Alex is saving for use the money in near future  

Alex pays $140 - Medium of exchange. In this alex would pay the money to purchase the Blu-ray

7 0
2 years ago
Which of the following integrates the functions of operations management, logistics management, procurement, and marketing chann
IRINA_888 [86]

Answer:

Supply Chain Management

7 0
3 years ago
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