Answer:
I think Sears need to stop diversifying its product too much and focus on improving internal human resources.
Explanation:
The largest expense that Sears made occurred during their effort to add more female customers to shop at their place.
Sears was known for its DieHard, Craftsman and Kenmore brands that attract mostly male customers to their stores. They started “The Softer Side of Sears” which focused on adding more products for female customers.
But, in the process of doing so, Sears neglected their already successful male products department with a lot of employees who sacrifice a lot of their time and effort into making Sears as big as it is.
In order to restore to its former glory, Sears need to stop focusing on new market with a lot of strong competitors and focused on improving skill set of employees in their successful department. They can do this by investing in their education, increasing the budget for their research and development, etc.
Answer: Evaluation and Control.
Explanation:
If the company is to measure it's performance based on their goal and objectives, this implies that the goal and objective of that company has become a tool with which the company can appraise their performance which is a form of evaluation.
Answer:
the answer is 6
Explanation:
In this case we would need to have a combination of each plant with each customer. So the variable would be in this way (3C X 2P)
Customer1 Customer2 Customer3
Plant1 P1C1 P1C2 P1C3
Plant2 P2C1 P2C2 P2C3
Once you have this you can calculate the best combination to minimize the cost of shipping
Answer:
910 days
Explanation:
Calculation to determine the Minimum Restocking Level needed to cover expected demand over time without stocking out
Using this formula
Minimum Restocking Level= (Average daily demand × Reorder period)+ (Average daily demand × Lead time)
Let plug in the formula
Minimum Restocking Level= (70 days × 10 days) + (70 days × 3 days)
Minimum Restocking Level=700 days + 210 days
Minimum Restocking Level= 910 days
Therefore the Minimum Restocking Level needed to cover expected demand over time without stocking out is 910 days
Answer:
Demand is Inelastic
Jack : Substitution Effect dominates
Becky : Buy fewer hiking boots
Explanation:
Elasticity of Demand is responsive change in demand due to change in price. Demand is : Elastic - When proportionate change (% change) in demand > proportionate (% change) in price and Inelastic - When proportionate change (% change) in demand < proportionate change (% change) in price .
So, If price rise by 12% & demand decreases by 10% , Demand is Inelastic.
a. Substitution Effect is consumer's shift from dearer to cheaper goods & so, rise in demand of falling prices good , fall in demand of rising prices good . Jake buying lesser T shirts (relatively expensive) when price of Donuts fall (relatively cheaper) means Substitution Effect dominates for him.
b. Income Effect is price - demand inverse relationship, by change in real purchasing power due to price change. Price rise reduces real purchasing power, decreases demand & price fall increases real purchasing power, increases demand. Becky's paint brush price rise reduces her real purchasing power & she consumes less of both paintbrushes & hiking boots.
