Answer:
The correct answer is b.setting equipment utilization goals below industry average.
Explanation:
A firm cannot achieve competitive advantage by setting its equipment utilization goals as this will not retain its customers.
If a firm wants to achieve competitive advantage it can achieve it by;
Addressing its customers concerns and customizes the products according to their needs.
Providing customers their ordered products earlier than other companies lead time, which means increase in speed of delivery and shortens the delivery time.
Bring improvement and advancements in its products by using new technology.
Maintain a variety of different product options to cater the needs of its various customers. Offering them a wide range of products will probably reduce chances of customer switch.
Answer:
The correct answer is option B.
Explanation:
Real GDP is the inflation-adjusted measure of economic growth. It measures the change in output level at a constant price. It measures changes in economic output.
Nominal GDP measures change in output level based on current prices. It is not an inflation-adjusted measure of economic growth.
Real GDP changes with a change in output level. While nominal GDP can change with change in either output level or price. So it is not necessary that a decline in real GDP is accompanied by a decline in nominal GDP.
Answer:
<u>A vision states what a firm wants to accomplish; a mission states how a firm plans to accomplish this vision.</u>
Explanation:
Defining a company's vision and mission is extremely important for its strategic planning, as its premises will serve as a guide to assist managers in the decision-making process.
The mission corresponds to the company's raison d'être, the reason for its existence and what its purpose is. The vision corresponds to the aspirations, objectives and goals that the company intends to achieve in the future. So it is correct to say that A vision affirms what a company wants to accomplish; a mission states how a company plans to realize that vision.
You Have To Be 14 To Get Your Working Paper To LEGALLY Get A Job
Hope This Helps
Answer: elastic
Explanation:
The price elasticity of supply will be:
The percentage change in price will be:
= (1.50 - 0.50)/0.50 x 100
= 1.00/0.50 × 100
= 200
The percentage change in quantity will be:
= (4 -2)/2 x 100
= 2/2 × 100
= 100
Elasticity = % change in quantity/% Change in Price = 200/100 = 2
Since elasticity = 2, this indicates supply is elastic as it's greater than 1.