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Hunter-Best [27]
2 years ago
5

A not-for-profit firm uses a small convenience sample to gather data on customer reactions. It invites a small group of customer

s for lunch and asks them to share what they think about the products they have purchased from the firm. This is an example of ___
Business
1 answer:
Alinara [238K]2 years ago
7 0

Answer:

informal surveys

Explanation:

From the question we are informed about A not-for-profit firm which uses a small convenience sample to gather data on customer reactions. It invites a small group of customers for lunch and asks them to share what they think about the products they have purchased from the firm. In this case, this is an example of informal surveys.

Informal surveys can be regarded as type of survey whereby there is conduction of interviews as well as making of field observations by researchers themselves, instead of

enumerators as regards formal survey.

distinguishing characteristics of formal survey is that direct nteraction will exist in between the farmer as well as the

interdisciplinary team of researchers.

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"Profit-sharing plans provide a more direct incentive in small firms than in large firms. are practically impossible to use succ
dusya [7]

Answer:

Provides a more direct incentive in small firms than in large firms.

Explanation:

Profit sharing plan can be defined as a contribution plan in which the management of a company shares part of its profit with the employees. This could motivate and inspire the employees to work efficiently towards the growth of the organisation.

Profit sharing plan gives the employees a sense of ownership, this would inspire them to work harder to ensure the success of the organisation.

7 0
3 years ago
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after you analyzed demand, you took steps to make sure your business made sense financially. How will thinking on the margin hel
svetlana [45]

Answer:

Thinking on the margin will ensure that each pair of inserts produced is turning a profit. Once a profit is no longer being made on a pair of inserts, production must be cut back. Understanding these margins will also help me stay competitive in a market that is open to other producers. If additional producers enter the market, I know that I have the ability to lower prices or offer discounts while still maximizing profits.

Explanation:

4 0
2 years ago
What is the expected value when a $1 lottery ticket is bought in which the purchaser wins exactly $10 million if the ticket cont
Nadusha1986 [10]

We expect to lose $0.37 per lottery ticket

<u>Explanation:</u>

six winning numbers from = { 1, 2, 3, ....., 50}

So, the probability of winning:

P(win) = \frac{ no of favorable outcomes}{no of possible outcomes}

P(win) = \frac{1}{^5^0C_6} \\\\P (win) = \frac{6! X (50 - 6)!}{50!} \\\\P(win) = \frac{6! X 44!}{50!} \\\\P(win) = \frac{1}{15,890,700}

The probability of losing would be:

P(loss) = 1 - P(win)

P(loss) = 1 - \frac{1}{15,890,700} \\\\P(loss) = \frac{15,890,699}{15,890,700}

According to the question,

When we win, then we gain $10 million and lose the cost of the lottery ticket.

So,

$10,000,000 - 1 = $9,999,999

When we lose, then we lose the cost of the lottery ticket = $1

The expected value is the sum of the product of each possibility x with its probability P(x):

E(x) = ∑ xP(x)

= 9,999,999 X \frac{1}{15,890,700}  + ( -1 ) X \frac{15,890,699}{15,890,700} \\\\=- \frac{5,890,700}{15,890,700} \\\\= - \frac{58,907}{158,907} \\\\= - 0.37

Thus, we expect to lose $0.37 per lottery ticket

7 0
3 years ago
The two biggest drawbacks or disadvantages of unrelated diversification are:___________.
lapo4ka [179]

Answer:

c. demanding managerial requirements and limited competitive advantage potential that cross-business strategic fit provides.

Explanation:

An unrelated diversification can be defined as a situation in which an existing business or company enters or invest in an entirely new business or industry that do not have any similarity whatsoever with its original business or product line. For example, an automobile manufacturing company that decides to acquire or invest in a clothing or shoe business.

Hence, the two biggest drawbacks or disadvantages of unrelated diversification are demanding managerial requirements and limited competitive advantage potential that cross-business strategic fit provides.

Also, the difficulties in successfully managing a collection of unrelated different business and having minimal competitive advantage potential over its rivals in the industry that cross-business strategic fit provides is another disadvantage of unrelated diversification

3 0
2 years ago
Assess how Wal-Mart is managing ethics and social responsability as one of thé largest corporations in the world
timofeeve [1]

Answer:

Wal-Mart has taken revolutionary steps over the years to start econ friendly activities to promote ethics and social responsibility.

Explanation:

Wal-Mart began to take initiatives to address global impacts and embraced a sustainability program. It concentrated on redoing everything, and the main centre was to be Eco-friendly. There were original and inventive techniques received by the organisation, including building a solar panel to the stores. There was likewise establishment of innovations to use less fuel and electricity.

6 0
3 years ago
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