Answer:
By conducting primary research using unbiased panellists, entrepreneurs can gain the latest information about the consumer's wants and needs, allowing them to adapt their product or service accordingly and gain a competitive advantage.
Explanation:
Answer:
Option (b) is correct.
Explanation:
The law of demand states that there is a negative relationship between the price of the product and the quantity demanded for the product. This means that as the price of ski lift tickets increases then as a result the quantity demanded for ski tickets decreases. Alternatively, if there is a fall in the price of ski tickets then as a result the quantity demanded for sky tickets increases.
As an offer, this is effective.
Ogden obviously wants to know something about Shakespearean comedy, because he may need it for an exam, or his job, or maybe he is just interested in the subject. Thus, he wishes to learn this from someone, which makes Naomi's offer an effective one.
Answer:
$14,500 unfavorable variance
Explanation:
the direct labor cost variance is calculated with the following formula:
direct labor variance = total actual labor hours x (actual labor cost per hour - standard cost per hour)
direct labor variance = 1,000 hours x ($48.15 - $34) = $14,500 unfavorable variance
The variance is unfavorable because the actual labor cost is much higher than the estimated labor cost.
In their chief role of decision maker or planner, operations managers exert considerable influence over the degree to which the goals and objectives of the organization are realized.
<u>Explanation:</u>
Planned decision making is one of the most vital managerial process. The steps involved in framing preparation of decision establishing are as follows,
- Exploring the decision situation
- Determining the value of the decision
- Identifying and confirming stakeholders
- Considering connected decisions
The steps included in defining success of the decision making are,
- Identifying guiding requirements
- Considering criteria categories
- Prioritizing the criteria
The following are the final steps of decision making process,
- Mapping the issues or concerns that are to relevant decisions
Planned decision making is the crucial process in every business entity. This helps in the forward movement of the business.