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3 years ago

Describe the basic control process and various methods that managers can use to maintain control in the organization

1 answer:

6 0

Answer: Manager is a lead member in the organization who looks into matters of production of goods and services and working of superior members of the organization.

Explanation:

Various methods of control process in the organization are:

1. Output control: Measurable results of the output generated by the superior members of the organization assign to a particular work. Encouraging employees to give maximum output in short time.

2. Behavioral control: Controlling the action and activities of the superior members of the organization by encouraging them, promoting, supporting them, and organizing fun activities for them.

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Assume lawyer services are priced by the hour and elasticity of demand for a particular lawyer is 0.6. If she were to increase h

Dmitry [639]

Answer:

C. Fall, 30%, Rise

Explanation:

Price Elasticity of Demand is responsive change in demand, due to change in price.

P.Ed = % change in demand / % change in price.

Given : Price rise by 50% , P.Ed = 0.6

So, % change in demand = P.ed x % change in price

% change in demand = 0.6 (50)

% change in demand = 30%

Law of demand states negative relationship between price & demand, so P.ed is negative. Price rise 50% reduces demand by 30%.

P.Ed can be : Elastic ( > 1 ), or Inelastic ( < 1 ). If P.Ed is Elastic, price & total revenue are inversely related. If P.Ed is Inelastic, price & total revenue are directly related.

So, Given PEd = 0.6 (i.e < 1 ) : Inelastic Demand implies price & total revenue are directly related related to each other. So, price fall lead to TR fall & price rise lead to TR rise.

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3 years ago

Philip Morris expects the sales for his clothing company to be $670,000 next year. Philip notes that net assets (Assets − Liabil

shutvik [7]

Answer:

the ending cash balance is $330,300

Explanation:

The computation of the ending cash balance is shown below:

Ending cash balance = Opening cash balance + Profit

= $270,000 + (9% × $670,000)

= $270,000 + $60,300

= $330,300

We simply added the opening cash balance and the profit so that the ending cash balance could come

Hence, the ending cash balance is $330,300

7 0

2 years ago

An economics professor is discussing a measure of inflation over time based on a basket of goods comprised of all the components

Jlenok [28]

Answer:

GDP Price Deflator

Explanation:

GDP price deflator is a measure of the general changes in the price level of all the finished goods and services in a country in a period. While GDP is a measure of the total output in an economy, the GDP price deflator shows the extent to which prices changed in a period. In proving the effects of price changes, the GDP deflator identifies a base year then compares the current prices to base year prices.

The GDP price deflator allows economists to compare the GDP of different periods while considering the inflation between those periods. It does this by comparing the nominal GDP with the real GDP.

3 0

3 years ago

Kuzio Corporation produces and sells a single product. Data concerning that product appear below: Per Unit Percent of Sales Sell

steposvetlana [31]

Answer:

Overall effect of the change is an increase in net operating income of $1800

Explanation:

The net operating income with additional advertising spend is shown below:

Sales (6620*$150) $993,000

Variable expenses(60%*993000) ($595,800)

contribution margin $397,200.

Fixed expenses($193000+$5400) ($198,400)

Net operating income $198,800

The net operating income without additional advertising spend is shown below:

Sales (6500*$150) $975,000

Variable expenses(60%*975,000) ($585,000)

contribution margin $390,000

Fixed expenses ($193,000)

Net operating income $197,000

The overall effect of the change is an increase in net operating income of $1800($198800-$197000)

4 0

3 years ago

A development process __________. ANSWER Unselected addresses the main value-added activities of an organization Unselected is a

cluponka [151]

Answer:

process that seeks to improve the performance of primary and support processes.

Explanation:

Development process is defined as a seeks improvement of primary and support activities by using strategy, organisation, marketing, conceptualisation, plan creation, evaluation, and commercialisation of a product or process.

Development process is used by firma to convert viable ideas to profitable products.

Innovative ideas are generated by the companie's team, and through critical evaluation the best and most commercially viable option is chosen for further product development.

This is a cycle that is continous and gives the innovative company a competitive edge.

5 0

3 years ago

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