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saw5 [17]
4 years ago
14

Describe the sustainability management practices of a business firm with which you are familiar. Which stage of the corporate en

vironmental responsibility model best fits this firm, and why? Looking again at this same firm, what steps might its managers take to improve its environmental performance? In answering this question, consider the various elements of effective environmental management.
Business
1 answer:
fomenos4 years ago
6 0

Answer:

Sustainability management practices : More conservation, Less pollution etc

Three stages of corporate economic responsibility : Pollution Prevention, Pollution Stewardship, Clean Technology

Effective Environment Management : Environment policy , personnel , organisation , responsibility & accountability, pollution control, evaluation , awareness etc

Explanation:

Effective Sustainable environment management is an important part of Corporate Social Responsibility. Corporate social responsibility is the responsibility of firms towards societies, as they get all resources & business from them.

There are three stages of corporate environmental responsibility

  • Pollution Prevention : Focuses just on pollutants emissions during production
  • Pollution Stewardship : Focuses on environment impacts of full life cycle of product - production, use, disposal
  • Clean Technology : Focus on inventing new technology, reducing environment ill effects in long run

Key Elements of Effective environmental management [as per US EPA model] are :

Environmental policy organisation & personnel, oversight of EMS; Accountability & responsibility; Environmental requirements; Assessment, prevention & control; Environmental incident & noncompliance investigations; Environmental training, awareness & competence ; Environmental planning & organisational decision-making; Maintenance of records & documentation; Pollution prevention; program evaluation & improvement; Public involvement and community outreach.

Some sustainability management practices of a business firm : Water & Electricity conservation , Harmful chemicals management, less pollutant emissions, better waste management , 3R's - Reduce, Reuse , Recycle

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Warner Corporation purchased a machine 7 years ago for $405,000 when it launched product P50. Unfortunately, this machine has br
maxonik [38]

Answer:

1. $46,550

2. $405,000

3. $450,600

Explanation:

1. Computation of differential cost regarding the decision to buy the model 200

Differential cost = Cost of a new model 300 - Cost of a new model 200

Differential cost = $396,350 - $349,800

Differential cost = $46,550

So, the differential cost regarding decision to buy model 200 is $46,550.

2. Sunk costs are the costs which are already incurred by the entity in the past and which are not relevant to decision made today. In this case, sunk cost is the cost of the machine purchased seven years ago for $405,000.

3. Opportunity cost is the profit forgone by chosen alternative course of action. In this case, the Opportunity cost regarding the decision to invest in the model 200 machine is $450,600.

6 0
4 years ago
Chavez Corporation reported the following data for the month of July: Inventories: Beginning Ending Raw materials $46,000 $39,50
Archy [21]

Answer:

Cost of goods manufactured= $228,700

Explanation:

<u>To calculate the cost of goods manufactured, we need to use the following formula:</u>

cost of goods manufactured= beginning WIP + direct materials + direct labor + allocated manufacturing overhead - Ending WIP

cost of goods manufactured= 25,500 + (46,000 + 75,500 - 39,500) + 100,500 + (68,500 - 11,800) - 36,000

cost of goods manufactured= $228,700

We deduct the indirect material from overhead because it is already incorporated into direct materials.

6 0
3 years ago
Suppose that the United States fixes the dollar-pound exchange rate. In the process of maintaining the fixed exchange rate, if t
maks197457 [2]

Answer:

the fixed dollar-pound exchange rate is consistently below the equilibrium exchange rate that would be produced by a private foreign exchange market.

Explanation:

Fixing an exchange rate means that the government is trying to intervene in valuation of its currency. It is fixing it's currencie's rate to another and using reserves to handle fluctuations in market price.

When the fixed rate is below equillibrum there is surplus of the countrie's currency at the fixed rate. The government will buy this surplus (if not the value will fall) by selling their foreign currency reserves. This is done to maintain the fixed exchange rate.

Reduced reserves of pounds noticed by the Central bank is as a result of fixed price below equilibrium.

5 0
3 years ago
After setting the pricing objective, the next step in Amy's price-setting process is to:_______. a) monitor the effectiveness of
lakkis [162]

Answer:   Evaluate demand

After setting the pricing objective, the next step in Amy's price-setting process is to evaluate demand

Explanation:

4 0
3 years ago
When managers make the most appropriate decision in light of what they believe to be the most desirable consequences for the com
ikadub [295]

Answer:

optimum

Explanation:

An optimum decision as defined in the question can be defined as the most appropriate decision taken by a manager in the light of what they to be the most desirable consequences for the company.

This simply means that when an event or occurrence takes place in a company, the managers have the responsibility to take the best decisions for the company. The best decision is therefore called the optimum decision; that is the highest level of  decision that solves the problem with the smallest of consequences.

Cheers.

4 0
3 years ago
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