Answer:
Almost every other business in this universe now relies upon group thinking rather than individual approach to anything.
It has several advantages, some of them are pointed out below:
o) Equality bias, when there are group discussion, this means that everyone has a part of say in the final decision and that leads to equality bias, which is beneficial.
o) More alternatives are generated, it is a fact that when an individual takes a decision, he/she is neglecting a lot of other options to explore which could be a lot beneficial for the business.
o) More acceptance of the final decision, Since the final decision taken is with the approval and consent of everyone, there is a possibility that the final decision will be more acceptable.
o) Lastly, It creates Synergy, synergy is the idea that a decision as a whole is better than in parts.
Hope this helps you. Good Luck.
Answer:
Two activities scheduled to be carried out in parallel and using the same scarce resource are independent.
Explanation:
An Israeli physicist named, Eliyahu M. Goldratt developed the Critical Chain Project Management (CCPM) and introduced it in his book "Critical Chain" in 1997.
The CCPM is a project management methodology used by managers to better manage a project. The CCPM ensures that the project plan is feasible and immune from any uncertainty or statistical fluctuations.
In the CCPM activity network, there are no milestones and all non-critical activities are performed as late as possible.
CCPM adopts the use of drum buffers, so as to ensure extra safety is applied to a project immediately before using constrained resource.
According to Goldratt, two activities scheduled to be carried out in parallel and using the same scarce resource are independent.
Answer:
A retroactive date endorsement
Explanation:
In Insurance, a retroactive date endorsement is used for most claims-made policy forms.
For a claims-made policies, the date which a professional liability coverage begins, covering for any incident that causes damage or harm to a third party on or after the date it occurred, provided the claims relating to it were filed with an active liability insurance coverage, is known as the retroactive date endorsement.
Hence, Bernice should add a retroactive date endorsement to the policy to protect the insurer against liability for such previous losses.
Financial reporting objectives for companies, according to the conceptual framework, are based on user needs, to be used as a periodic assessment of organizational performance.
<h3 /><h3>Financial reports</h3>
Responsible for supporting organizational decision-making, their objective is to analyze, monitor and report the performance of an organization, to determine the financial health of the business, demonstrate transparency and assist in the decision-making process.
Therefore, financial reporting objectives are based on user needs, ie a company uses such reports to measure performance, determine projections, analyze resource utilization and make more effective decisions.
Find out more information about financial reports here:
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