The statement above about gap analysis is: True.
<h3>What is Gap Analysis?</h3>
Gap Analysis is a measurement that an entrepreneur makes when he compares his present performance with that which he desires to achieve.
He evaluates the time money and resources spent on projects to know if they are fully optimized.
So, the statement above is right.
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Answer:
A.Total cost 41 93 (52)
B. It would be much better to manufacture the carrying cases .
While Fixed factory overhead is less important to this decision.
Explanation:
Fremont Computer Company Differential Analysis
Make Alternative 1: Buy Alternative 2:
Differential effect on net income
Alternative 1 : Alternative 2: Differential effect
Purchase Price - 89 (89)
Direct material 16 - 16
Direct labor 20 - 20
Variable 1 - 1
manufacture overhead (20×5%)
Fixed (5-1) 4 4 -
manufacture overhead
Total cost 41 93 (52)
The Company should choose Alternative 1
which is Make carrying case
B. It would be much better to manufacture the carrying cases.
While Fixed factory overhead is less important to this decision.
Therefore in make or buy decision the selling price of the product will be less important because the selling price was not provided which means it does not have effect on the decision of buy or make.
I guess the correct answer is Product development
3M involves its customers in the process of developing new products. In this way, it can benefit from current customers' insights and develop new products that will meet these customers' needs. 3M is pursuing a Product development growth strategy.
Answer:
The sales budget
Jefferson Sports Medicine, Inc budgets sales budget (Amounts in $)
Months
Physical examination July August September Total
Basic physical 13,200 14,100 6,300 33,600
Extended physical 25,650 27,000 14,850 <u>67,500</u>
<u> 101,100 </u>
Explanation:
The sales expense shows the forecasted of sales from the various types of physical examination for a given period. These include the sales expected from Physical examination. The sales are the products of the charge per examination and the number of examinations conducted. It may be computed as follows;
July;
Physical examination
= $60 * 220
= $13,200
Extended physical
= $135 * 190
= $25,650
August
= $60 * 235
= $14,100
Extended physical
= $135 * 200
= $27,000
September
= $60 * 105
= $6,300
Extended physical
= $135 * 110
= $14,850
Paul Rodriguez who is the President of WV Railroad will need to rely primarily on his <u>Conceptual skills </u>to combat the challenges faced by his organization.
<h3>What are Conceptual Skills?</h3>
Conceptual skills refer to the competence and ability to see the overall organization, grasp how the various elements are interrelated, and analyze how the organization interacts with its external environment.
Conceptual skills also include the capacity to recognize and solve challenges. These abilities enable Presidents or managers of an organization to assess events and devise alternate strategies.
For Paul Rodriguez to combat the challenges faced by his organization, He needs to focus primarily on his conceptual skill as it gives him the ability to:
- Make swift judgments.
- Think critically and
- Come with a logical solution to those problems,
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