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Vadim26 [7]
3 years ago
5

Frederic Taylor applied the scientific method to management. In many cases, this meant measuring a process to determine its opti

mal possible output. From your own work experience, discuss a time you have seen measurements used to manage a process. Examples might include allowing a certain amount of time for a phone call or a project deadline. Do you believe the results were optimal, based on the measurement used?
Business
1 answer:
prisoha [69]3 years ago
3 0

Answer:

I have observed the training process for the job related to the marketing of cosmetics products at the point of sale. The girls were trained in a very precise manner, where the <em>key takeaways</em> were:

<u>- The sales pitch of a particular skin cream should not take more than two minutes per customer. </u>

<u>- A customer should be shown more than five products of the range.</u>

This was the measured guideline proposed by the manager, according to previous experience.

If the sales girls managed to keep each particular sales pitch shorter than two minutes, they would obviously cover more customers. Also, when presenting more than five products to a potential customers, the customer would have a bigger choice to choose from when deciding to buy.

Having in mind the <em>rewards </em>and the absence of rewards, the manager decreased the salary for each sales girl who broke the pitch duration limit, or showed less than five products for more than 7 times a day. Accordingly, the manager gave them a bonus for a day when they managed all customers in the proposed manner.

Although this kind of measurement and productivity has substantial rationale (bigger customer coverage and better product exposition), I think that the strict propositions do not result in the optimal output all of the times.

For example, some customers naturally need more time for the pitch process if they want to thoroughly educate themselves about the product benefits and usage. In that case, more time invested in the pitch isn't necessarily a loss, as those customers can still buy lots of products.

Similarly, if a customer is well prepared and knowledgeable about the skin care range's scope of products, there is no need to show them the proposed, fixed amount of products, as it is probably enough to just pinpoint the benefits of 1-2 products concerning a specific skin care problem.

To sum up, I think that this kind of strictly quantitative, scientific approach to management can be highly irrelevant in some areas of modern business. After all, this approach originated during the time of great industrialization and was mainly used directly in facilities and plants, assessing the production. Having that in mind, it probably does not reflect the productivity of other business segments, such as marketing-intensive processes.

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Stern Corporation's management wants to maintain a minimum monthly cash balance of $8,000. At the beginning of September, the ca
krek1111 [17]

Answer:

Stern must borrow 13,530dollars at least to achieve is minimum monthly cash balance.

Explanation:

beginning cash balance:             $  12, 270

cash receipts                               $  97,200

cash disbursements              <u>      $(115,000)   </u>

cash balance before financing:  $   (5,530)

minimun balance required          $    8,000

financing requirement: 8,000 - (-5,530) = 8,000 + 5,530 = 13,530

7 0
3 years ago
The May transactions of Bramble Corp. were as follows:
svlad2 [7]

Answer and Explanation:

The journal entries are given below:

On May 4

Account  payable $610

        To cash $610

(To record the cash paid)

On May 7

Account  receivable $6,840  

       To service revenue $6,840

(To record the service on account)

On May 8

Supplies $870    

      To Account payable $870  

(To record supplies purchased on account)

On May 9

Equipment $1,930  

        To cash $1,930

(To record the equipment purchase)

On May 17

Salary expense $700

         To cash $700

(To record the salaries expense)  

On May 22

Repair expense $800  

        To Account payable $800

(To record the received bill for repairing of an equipment)

On May 29

Prepaid rent $1,280

         To cash  $1,280

(To record the cash paid)

4 0
3 years ago
Copper Corporation, a C corporation, had gross receipts of $25 million in 2015, $26 million in 2016, and $23 million in 2017. Go
Aleksandr [31]

Answer:c. Both Copper Corporation and Gold Corporation.

Explanation:Cash accounting is an accounting method in which payment receipts are recorded during the period they are received, and expenses are recorded in the period in which they are actually paid. In other words, revenues and expenses are recorded when cash is received and paid, respectively.

Generally, a small business can use either the overall cash method of accounting or an overall accrual method of accounting. ... The overall cash method of accounting is available for S corporations, partnerships that do not have a C corporation as a partner, and personal service corporations (PSCs).

4 0
3 years ago
Read 2 more answers
Suppose that the term structure is currently flat so that bonds of all maturities have yields to maturity of 10%. Currently a 5-
laila [671]

Answer:

Explanation:

a) PV=$1000

As price is equal to face value then the Coupon rate will be equal to its YTM, 10%.

Annual Coupons = 10% * 1000 = $100

b.) We have purchased the bond for $1000, so our investment is $1000

At the end of the year 1, we get a coupon of $100 and the selling price.

1st CASE - When monetary policy is tight.

New YTM = 12%

Time left to maturity (n) = 4 years

Coupon payment = $100

Price = Coupon payment X PVAF(YTM, n) + Face Value X PVF(YTM, n)

[USE TABLES or Financial calculator]

Price = 100 X PVAF(12%, 4) + 1000 X PVF(12%, 4) = 100 X 3.307 + 1000 X .636 = 303.7 + 636 = $939.7

If we sell the bond, Return = (Coupon Received + Selling price - Purchase price ) \div Purchase price

= (100 + 939.7 - 1000) \div 1000 = .0397 or 3.97%

Scenario 2 - When monetory policy is loose

New YTM = 8%

Time left to maturity (n) = 4 years

Coupon payment = $100

Therefore, Price = Coupon payment X PVAF(YTM, n) + Face Value X PVF(YTM, n)

Price = 100 X PVAF(8%, 4) + 1000 X PVF(8%, 4) = 100 X 3.312 + 1000 X .735 = 331.2 + 735 = $1066.2

If we sell the bond, Return = (Coupon Received + Selling price - Purchase price ) \div Purchase price

= (100 + 1066.2 - 1000) \div 1000 = .1662 or 16.62%

4 0
3 years ago
Companies such as​ p&amp;g, walmart, and levi strauss have recognized the growing​ ________ in the u.s. population by targeting
Misha Larkins [42]
Hi, thank you for posting your question here at Brainly.

Since this pertains to ethnicities, race and lifestyles, these companies must have targeted the diversity in the U.S population. The diversity is a result of modern technology and modern views of the social norms. Because of this, lifestyles and personalities vary from one person to each other. To a businessman, he must cater to everyone's taste if he wants more profit.
6 0
3 years ago
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