Answer:
Strategic level
Explanation:
Bill is at the strategic level of the organisational pyramid. He is responsible for allocating the resource of the organisation and taking decisions on behalf of the owners. Bill is at the strategic level because he is also required to make a strategic decision and goals for the company. The strategic level of management is one of the important parts of any organisation, as the strategic performance of the company relies heavily on strategic management.
Answer:
It is vital that every fun related environment like the one discussed in the text have an emergency team that handles such cases.
Below are a few steps that I would take to ensure the safety of my guests:
- <em>Diligently Mark out Restricted Areas:</em><em> This is the first step towards establishing a safe environment for guests.</em>
- <em>Ensure the availability of enough Key Staff Members.</em>
- Designate a staff to properly manage ticketing so as to curtail financial losses
- <em>A Lightning Alert System must be installed in the case of emergencies.
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- <em>There must be a standby emergency medical unit just in case of sudden injuries, mechanical/technical error, and other health emergencies that may be life threatening.
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- <em>There has to be a team carefully looking out for the guests.</em>
- <em>Ensure that restricted areas. signs are clearly shown and also put a staff in those sections to curtail any truant behavior by guests.</em>
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<em>No additional costs should be added. The cost of a ticket should cover for all fun and health privileges. Additional costs may lead to a drastic reduction in customer base. The ticket cost should cover for everything.</em>
Answer: because it forces firms to achieve maximum efficiency (productive and allocative efficiency). Requires that goods be produced in the least costly way. Firms are forced to produce at the minimum average total cost in the long run.
Explanation:
Answer:
e. Buyers
Explanation:
As per Michael Porter's 5 forces to assess industry attractiveness, following are the five forces:
1. Buyer power
2. Supplier power
3. Threat of substitutes
4. Threat of new entrants
5. Competitive Rivalry
As per the given information, the students represent the buyer power with respect to their negotiation or bargaining power. This means the influence and control buyers exercise over price of products (textbooks) here.
In the given case, the supplier power appears more domineering since buyers, the students have no other option but to buy the updated textbooks beyond a period of time as those books have been suggested by the professor.
