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Brut [27]
3 years ago
11

Chris wants to open a family-oriented restaurant in a thriving suburban area. Chris thinks a sports-based theme and broad menu w

ill be attractive to the large number of families in the area. However, national chain restaurants, such as Chili's, TGI Friday's, and Applebee's already draw large followings in the area. The existence of these chain restaurants is a significant:
A. competitive rival.B. monopoly.C. competitive barrier.D. opportunity.E. competitive environment.
Business
1 answer:
ella [17]3 years ago
6 0

Answer:

The correct answer is letter "C": competitive barrier.

Explanation:

Competitive barriers represent obstacles for a business to start operations based on what other companies are already providing to the market. The settled companies -competitors- tend to have a preference and market share obtained through years of operations which is a threat for a new company that is looking for attracting consumers.

You might be interested in
Why is there a need to assess one's PECs in terms of characteristics,attributes,lifestyle,skills traits before starting a partic
Vladimir79 [104]

Answer:

Explanation:

PECs stands for <em>Personal Entreprenurial Competencies.</em>

It is important to evaluate them because they have a way of predicting how successful one would be in a particular business.

Some of these attributes include but are not limited to the following:

  • Ability to Influence other People: People here refer to customers, public and even staff.

  • Self-Confidence: Confidence in one's abilities is key for survival in any business or endeavour.

  • Persuasion: Persuasion goes hand in hand with influence and Self-Confidence. It's almost impossible to influence other people if ones does not have self-confidence or lacks the strategy to do so.

  • Efficiency Orientation: The best entrepreneurs known how to create value from little or nothing.

  • Problem Solving: This is one of the greatest skills of an Entrepreneur. The higher they go on this trait, the more their chances of success.

  • Information Seeking: This is not just about reading. It refers to ones ability to seek related intelligence within and outside of one's environment. Good intelligence contributes to great decision making.

  • Ability to spot and utilize Opportunities: This is two traits combined in one. Spotting opportunities is overrated. Ability to organise internal and external resources in order to translate such opportunities into value is priceless.

  • Grit: Also known as persistence. This is key and is required for any idea which is receiving efforts to come to fruition.

Cheers!

8 0
3 years ago
Assume that Horicon Corp acquired 25% of the common stock of Sheboygan Corp. on January 1 for $300,000. During the year Sheboyga
sergejj [24]

Answer:

Cash $60,000 (debit)

Investment Income $60,000 (credit)

Explanation:

It is Important to note that the Acquirer (Horicon Corp) is a Corporate.

The Acquisition of 25% of the common stock of Sheboygan Corp constitute an Asset for Horicon Corp since Economic Benefits are expected to be received from the Investment.

The Receipt of Dividends from these shares will constitute Investment Income and the entry is as follows :

Cash $60,000 (debit)

Investment Income $60,000 (credit)

6 0
3 years ago
Read 2 more answers
Nordstrom, an upscale department store, has a well-known reputation for going the extra mile to serve its customers. This reputa
11Alexandr11 [23.1K]

Nordstrom, an upscale department store, has a well-known reputation for going the extra mile to serve its customers. This reputation for excellent customer service will most likely result in a sustainable competitive advantage.

<h3><u>Explanation:</u></h3>

When a firm offers its customers with any products that has higher quality and benefits or lower price that its competitors then it refer to the competitive advantage. It is the advantage that the firm attains when compared with their competitors.

There are many different kinds of competitive advantage that can be used by a firm such as cost, product differentiation, niche strategies, etc. It is the thing that is absent in the competitors. In the given example, Nordstrom has well known reputation for the service that it gives for its customers and hence it is the likely result of sustainable competitive advantage.

7 0
3 years ago
Three groups that participate in the process of establishing gaap are users, preparers, and auditors. these groups are represent
Rom4ik [11]

1.) Securities and Exchange Commission-----------USERS


The U.S. Securities and Exchange Commission (SEC) is a independent federal government office in charge of ensuring financial specialists, keeping up reasonable and efficient working of securities showcases and encouraging capital development. It was made by Congress in 1934 as the primary government controller of securities markets. The SEC advances full open revelation, ensures financial specialists against false and manipulative practices in the market, and screens corporate takeover activities in the United States.  

2.) Financial Executives International ------------PREPARERS


Financial Executives International (FEI) is a part service– arranged association situated in Morristown, New Jersey, for senior-level budgetary administrators in organizations in fluctuating sizes, both open and private, and in all ventures. FEI works a different not-for-profit establishment: Financial Executive Research Foundation (FERF), which goes about as a fair-minded budgetary asset for individuals and Foundation supporters.  

FEI was established as the Controllers Institute of America in 1931. The association renamed itself in 1962 to Financial Executives Institute to mirror the development of obligations among budgetary administrators into arrangement making zones. As the worldwide economy kept on developing in the 1960s, the gathering helped shape the International Association of Financial Executives Institutes (IAFEI).  

3.) American Institute of Certified Public Accountants ---------AUDITORS


The American Institute Of Certified Public Accountants (AICPA) is the non-benefit proficient association of ensured open bookkeepers in the United States. The American Institute of Certified Public Accountants was established in 1887, under the name American Association of Public Accountants, keeping in mind the end goal to guarantee that bookkeeping picked up regard as a calling and that it was honed by moral, able experts. The AICPA exists to furnish in excess of 370,000 individuals with the assets, data, and authority to give CPA benefits in the most noteworthy expert way.  

4.) Institute of Management Accountants ----------PREPARERS


Institute of Management Accountants is the overall relationship of bookkeepers and budgetary experts in business. Administration bookkeepers are crucial to the money related strength of associations. They settle on basic choices, protect an organization's trustworthiness, and plan for business sustainability.The advancing part of administration bookkeepers in an evolving world. This exploration region centers around the part of bookkeepers as business accomplices and the transformational part of innovation inside bookkeeping.  

5.) Association of Investment Management and Research ----------USERS


The Association for Investment Management and Research (AIMR) is a global, philanthropic association of in excess of 68,000 speculation professionals and instructors in more than 117 nations. AIMR's main goal is to serve its individuals and financial specialists as a worldwide pioneer in teaching and looking at speculation administrators and examiners and supporting exclusive requirements of expert direct. AIMR's participation is worldwide in degree, and its exercises are around the world. AIMR offers benefits in three general classes: Education through courses and distributions; Professional Conduct and Ethics; and Standards of Practice and Advocacy. Its intentional expert improvement program gives individual tests in light of procedures of the affiliation's numerous meetings and on AIMR's Investment Performance Standards and Ethical Standards of Practice.

5 0
3 years ago
Around the world oil is priced consistently in United States dollars. In economic terms this is an example of:
Zina [86]

Answer: unit of account

Explanation:

The unit of account is function of money which refers to the standard monetary unit of measurement of a good or service.

Since oil is priced consistently in United States dollars around the world, this means that dollars is the standard monetary unit of measurement and is therefore, the unit of account.

8 0
2 years ago
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