Answer:
B. Overall objectives of the firm
Explanation:
Strategic planning can be defined as the process of creating a strategy, vision and direction for organisation, followed by allocating the resources needed to attain those set direction and vision. The main idea and logic behind strategic planning is to set a clear direction for the business that where it should move. Putting it simply, strategic planning address the questions like where your business is and where it should go, what business you are in and what business you could be in or you should be in. For this particular purpose, first step is to set overall objectives of the firm.
Answer:
The purchase of paper is not included in GDP as it is an intermediate good. The value of paper will be included as a part of value of book.
Explanation:
The GDP is the value of final goods and services produce in a nation in a year. The paper used here is an intermediate good as it is further used to make textbooks. So it will not be included in the GDP.
An intermediate good is the type of good which is not directly consumed but is used in further production of goods and services.
The value of the textbook as a whole will be included as it is a final good. The value of paper will be included as a part of the value of textbooks.
Answer: Technological environment.
Explanation:
Technological advancements such as the use of computer based applications to balance accounts, the need for website creation for business transaction over the internet, as well as the use of point of sale system are parts of the technological environment very essential for successful business operation.
The EOQ is 980 units and should reduce the fixed ordering cost to an amount of $62.50.
<u>Explanation:</u>
a)
Annual demand=Qty per mth multiply with 12 = 1000 multiply with 12 =12000
Annual demand in USD, A= 12000 multiply with USD 100 (cost of each part) = USD 1200000
Preparation cost, P= 4 hrs changeover time multiply with USD 250 per hr = USD 1000
Annual holding cost, I = 25% = 0.25
EOQ in USD= Root over (2 multiply with A multiply with P divide by I ) = USD 9.79 multiply with 10000 = USD 98000
EOQ in nos. = USD 98000 divide by USD 100 (cos of each part) = 980 units
b) Q = 980 divide by 4 = 245
In this case, annual carryring cost, C = EOQ 980 by 4 multiply with 0.5 multiply with Unit cost USD 100 multiply with 0.25 = USD 3062.50
Annual demand, D = 1000 per month multiply with 12 = 12000
Ordering cost = C multiply with 245 / D = USD 62.50
