Answer:
Glocalisation
Explanation:
Thirst, a beverage manufacturer is involved in glocalisation by marketing its products using the same strategy globally. However, the ethnicity contained in their ads and the music used in jingles change according to the place. This is to say that they make use of ads which is particular to a specific location taking their culture and language into consideration.
The term "glocalization" was coined by sociologist Roland Robertson in the Harvard Business Review, in 1980.
Glocalization is a combination of the words "globalization" and "localization".
Glocalization is used to describe the ability of a product or service that is developed and distributed worldwide to adjust and accommodate the consumer in a local market.
Consumers in the local market have different taste and preference. Glocalisation is the ability of a product sold globally to fit into the local market at different places. It is an expensive process but firms usually make more benefits from practicing glocalisation.
Answer:
Annual economic profit = $113,000
Explanation:
Given:
Expenses on Real Estate = $150,000
Building rent = $17,000
Average spending on Ingredients = $20,000
Total anticipated revenue = $300,000
Computation of annual economic profit:
Annual economic profit = Total anticipated revenue - Expenses on Real Estate - Building rent - Average spending on Ingredients
Annual economic profit = $300,000 - $150,000 - $17,000 - $20,000
Annual economic profit = $113,000
Answer:
Cost tracing is important because it helps a firm to make wise decisions.
Explanation:
Cost tracing can be defined as the process of matching a cost directly with a product being produced.
Variable cost that are accompanied with inventory are direct materials, direct labour and variable manufacturing overheard. the variable manufacturing overheard flunctuates based on amount of production. example is cost of electricity and gas.
Variable costing can also be used in determining cost-volume-profit relationships. This cost-volume-profit analysis aids managers in comprehending the minimum amount of inventory they need to produce to break even on their cost.
Variable costing can also be used in valuing inventory which makes it easier to compare the profitability of a product.
Absorption costing on the other hand, is advantageous for a small business because it complies with GAAP ( Generally Accepted Accounting Principle).
Absorption costing systems are easy to setup and less complicated than other costing systems. but the drawback of absorption costing is the way they handle fixed overheard cost.
Answer:
The main difference is that quotas restrict quantity while tariff works through prices. Thus, quota is a quantitative limit through imports. ... 5.3) amount is imposed then price would rise to Pt because the total supply (domestic output plus imports) equals total demand at that price.
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