All categories

3 years ago

Summarize three reasons why it is important to use critical thinking.

Business

1 answer:

shtirl [24]3 years ago

3 0

Answer:

Improve communication strategies

Support smooth operations

Streamline product development

Explanation:

Improve communication strategies. Communicating with different types of people requires defining the needs of the target audience, which demands critical thinking. For example, if a company is being bought out by a competitor, the CEO must consider how this will impact everyone, from low-level employees to investors, and determine what messages to convey to each party. Acting quickly is essential, as he or she should be the first to give the employees the news to maintain their trust.

Support smooth operations. Maintaining daily operations in an ever-changing environment requires constant critical thinking. For example, if the power goes out at a restaurant and there is no emergency generator, the manager must decide not only what to do with the customers and staff but also whether and how to salvage refrigerated food. The quicker the manager acts, the more likely he or she is to make the best of an unfortunate situation.

Streamline product development. A product development role requires multiple decisions to ensure efficacy, marketability and safety. For instance, if a company is marketing a new kitchen gadget, designing it a certain way would make it look more appealing, but that design could also make it more difficult to use. Should the company prioritize function or fashion? The sooner it reaches a decision, the sooner production can begin.

You might be interested in

Tim Company had sales of $30,000, increase in accounts payable of $5,000, decrease in accounts receivable of $1,000, increase in

ipn [44]

Answer:

$31,000

Explanation:

decrease in accounts receivable = $1,000

Sales = $30,000

Cash collected from customers = Sales plus decrease in accounts receivables

= $30,000 + $1000

= $31,000

The decrease in account receivables represents the collection of cash from a customer. If sales amount to $30,000, all must have been collected in cash hence no amount was outstanding to increase receivables. Hence the addition of the two items gives the cash collected from customers.

5 0

3 years ago

President bill clinton attempted to protect american firms from foreign competition by placing a government tax on japanese auto

lukranit [14]

C. A tariff

Tariffs are taxes imposed on imported foreign goods and are designed to encourage people to buy domestic products

6 0

3 years ago

Read 2 more answers

A producer of fixed proportion goods X and Y (Q = Qx = Qy) has marginal costs and revenues of MC = 10 Q, MRX = 150 - 6 QX, MRy =

sammy [17]

Answer:

a. Qx =9, Qy=9

Explanation:

As per the given data

Q = QX = QY

MRX = 150 - 6QX = 150 - 6Q

MRY = 30 - 4QY = 30 - 4Q

MC = 10Q

Now calculate the Marginal revenue as follow

MR = MRX + MRY

MR = 150 - 6Q + 30 - 4Q

MR = 150 + 30 - 6Q - 4Q

MR = 180 - 10Q

The Equilibrium of the producer will be

MR = MC

180 - 10Q = 10Q

180 = 10Q + 10Q

180 = 20Q

Q = 180 / 20

Q = 9

As we know

Q = Qx = QY

Hence, the value of Qx and QY is 9

7 0

2 years ago

The production possibilities curve illustrates the basic principle that

krok68 [10]

Answer:

If all the resources of an economy are fully used, more of one item could be produced only if less of another item is produced

Explanation:

The concept of production possibility curve shows the different commodities that can be produced in a given economy, given the prevailing level of technology, if all available resources are efficiently utilized. The idea behind production possibility curve is that in other for in order to produce a particular commodity, the production of another commodity has to be scarified provided that i.e if all the resources of an economy are fully used, more of one item could be produced only if less of another item is produced

6 0

3 years ago

Coursehero Describe how FMEA can be implemented in a bioproduction facility. What steps did Lonza take to prevent problems at it

lisabon 2012 [21]

FMEA can be implemented at a bioproduction facility following the list of 7 steps which includes different parameters to look for.

Lonza harnessed FMEA priciples earnestly to shift cell therapy works to its centre of excellence and thus utilise New Hampshire unit for clinical and manufacturing purpose.

Explanation:

FMEA or Failure Mode or Effects Analysis is a certified way to analyse and address any sort of problem or changes before the occurrence of the event itself. FMEA can be implemented very easily in the bioproduction facility using the following mentioned steps-

Need to select a process which is to be analysed.
Group the team facilitator and its members.
Provide a complete description of the process.
Identify all the potential zones of failures.
Sort the problem which is to be worked on.
Design and later implement appropriate changes to reduce the problems.
Quantify your changes and the success of the process.

Lonza’s facility at New Hampshire is one of the largest employment providers of the city. Recently the group was involved in specific problems such as sterility with cell therapy. Previously it had an FDA encounter too due to its biologic’s operation. Hence through FMEA, the group decided to allot its gene therapy work to its excellence centres elsewhere and New Hampshire would be involved in doing the works of clinical and manufacturing sites.

6 0

3 years ago