Answer:
The value of a firm's final product is the selling price whereas value added refers to the addition of value to the raw material (intermediate products).
Explanation:
The term "value added" describes the enhancement a company gives to its product before offering it to the customer. It can be considered as an extra special feature added by a company to increase the value of a final product.
Answer:
True
Explanation:
Company XYZ's DMAIC (Define, Measure, Analyze, Improve, and Control) tools are the five steps or processes in Six Sigma projects. They can be used by Company XYZ to improve its existing business project. Six Sigma is a set of tools for process improvement, started at Motorola and popularized by American Engineer Bill Smith in the 1980s. It attempts to reduce defects in the production process with its disciplined and data-driven approach.
Answer: b. increases profits faster than does a low contribution-margin percentage
Explanation:
Contribution Margin refers to the amount of sales left after the Variable Costs of a good has been removed from it. That means Contribution Margin is simply Sales less Variable Costs. It helps to check how much is left to deal with Fixed Costs and how much profit remains after.
The Break-Even Point in sales refers to the point where Total Costs is equal to Total Revenue. At this point both variable costs and fixed costs have been covered by the Revenue.
If you get to this Break-Even Point then, that means you don't have to worry about Fixed Costs anymore and your only worry is the Variable Costs which are present per good. At this point therefore, a Higher Contribution Margin percentage tells that Variable Costs are quite less than sales, this would enable a company to gain profit faster because Fixed Costs are out of the way and anything made over Variable Costs now is Profit.
Answer:
This question is incomplete, the options are missing. The options are the following:
a) He should consult lawyers about the possibility of suing for copyright infringement.
b) If the industry barriers to entry are low, he doesn't need to do anything.
c) He needs to find out if his company as well as other companies can provide the complements.
d) If the industry barriers to entry are high, he doesn't need to do anything.
And the correct answer is the option C
Explanation:
To begin with, the fact that Steve is the manager in charge of the product design and development at a toy company indicates that he has to be very open minded when new complementors arrive to the market so that he and his team could use their imagination to have an storm idea and try to implement them as good as they can so a perfect new toy will be produced in his company. Therefore that at first sight he should look up the fact that if they could use and provide those complements so that a plan to do that will start taking form in the team, otherwise if they could not provide those complementors then the joy for those arrivals will be for nothing.
