PHASE 1: Accumulation
This period begins when you enter the workforce and begin setting aside funds for later in your life, and ends when you actually retire. If your employer offers 401(k), 403(b), or 457(b) plans, have you signed up and are you contributing the maximum allowed? Did you know that the "new normal" requires retirement savings rates for most Americans to exceed 10 percent? If self-employed, are you shortchanging yourself on Social Security in order to reap tax deductions?
PHASE 2: Pre-Retirement
This phase occurs during the final years of the accumulation phase and should begin when you reach 50 years old or are 15 years away from retiring, whichever happens first. Now is the time to get your plan in place, making sure your finances are lined up correctly for retirement day so nothing will be left to chance. If you work for a company with a benefits specialist, arrange an appointment to become informed about the various ways you can convert your employer retirement savings into a stream of income or an IRA. Consider using a tool known as "scenario planning." Start learning about Social Security and your options for beginning to receive retirement benefits. Familiarize yourself with the basics of Medicare.
PHASE 3: Early-Retirement
This phase lasts from the day you retire until you are 70 years old. (For those who do not plan to retire until well into their 70s, some tasks in this phase may occur later.) A key purpose of this phase is to create a clear communication channel with your family so information can be shared, questions asked and answered, and decisions made in a calm, supportive way. It's also the time to assess how well your finances are working now that you are using your retirement savings. Fine-tune your income and expense projections, taking into consideration how you will meet minimum distribution requirements from your tax-deferred accounts.
PHASE 4: Mid-Retirement
This phase begins at age 70 and lasts as long as you are able-bodied and high-functioning. Despite your good health, begin looking at what steps you would like your family to take should your condition decline significantly. In most cases your ability to make all your own decisions, care for yourself, engage with the world on your terms, and manage your affairs does not vanish in a split second. It takes courage to dive into a conversation about giving up and transferring control.
PHASE 5: Late-Retirement
This phase begins when your health has taken a turn for the worse and there is little likelihood of it being fully restored. You require significant help to function day to day. The hope is that by this point all the planning done in prior years makes this transition as manageable and life-affirming as possible.
Answer:
E. separation, self-service, automation, and scheduling.
Explanation:
Increase in productivity in a business aims to increase the efficiency of an individual or process involved in production of useful output.
Strategies for improving productivity includes separation, self-service, automation, and scheduling.
When there is seperation in services available to a customer, they easily identify the most relevant one to them.
Self service gives control of the process to the customer, resulting in greater satisfaction.
Automation reduces the turnaround time of processes and refocuses labour to more complex activities. So production efficiency increases.
Scheduling reduces time wastage by assigning time to complete activities.
<span>The term supply chain refers to the somewhat extensive process and means needed in transferring or transporting a product from the supplier to the customer. Supply chain uses both physical and information flows to achieve this end result. The three components of a physical flow of a supply chain are the transformation, movement, and storage of materials.</span>
There are four types of market structures namely; perfect competition, monopoly, monopolistic competition and oligopoly. Perfect competition is where large number of small firms compete with each other with a homogeneous product. In a monopoly market there is only one producer of a given product who determines the price of the product. In monopolistic competition the market combines the aspect of monopoly and perfect competition. In this case, In Oligopoly there are a few suppliers or sellers of a particular product.
