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Pie
3 years ago
5

Integrating management theories (Lead)

Business
1 answer:
pantera1 [17]3 years ago
8 0

Answer:

Identifying each Management Strategy with a Management Theory:

Management Strategies:                               Management Strategy

1. You measure sales over time and          4. Contingency Theory

realize that the months of July, August,

and September are particularly slow.

As a result, you ask two of your sales

clerks if they would be willing to work

part-time during those months.                    

2. You make sure that when you hire new  3. Management Science

people, you get input from each of the

existing team members. If they are happy

with the new hire, they are more likely to

make that person part of the team, and

the team will sell more.                                  

3. You notice that when customers have too    2. Humanistic

many choices, they are less likely to make            Management Theory

a decision about what to buy, so you tell all

of your employees to bring out only three

things at one time. In addition, you start to

pay your employees a commission for

every item that they sell.            

4. A customer survey shows that the men who    1. Classical Management

come into the store would prefer to be left alone    Theory

while they shop, but the women who come into

the store want to be asked if they need assistance.

You tell your employees to leave men alone  

and ask women if they want help.

Explanation:

Management Theories:

1. Classical Management Theory concentrates on specialization of labor, centralized leadership and decision-making, and profit maximization.

2. Humanistic Management Theory is a people-based management that seeks profits for human ends and not for the sake of profit as an end in itself.

3. Management Science concentrates on  problem solving and decision making in human organizations.

4. Contingency Theory is a situational management practice without set rules, but depends on the prevailing moment.

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Tasya [4]
The answer is B- prices
6 0
3 years ago
Exercise 11-6 Net present value LO P3 A new operating system for an existing machine is expected to cost $520,000 and have a use
Citrus2011 [14]

Answer:

NPV of investment 1: $509,131

NPV of investment 2: $269,513

Explanation:

initial investment -$520,000

6 year useful life, depreciation per year = ($520,000 - $10,000) / 6 = $85,000

free cash flow per year = $150,000 + $85,000 = $235,000

free cash flow last year = $235,00 + $10,000 = $245,000

NPV = -$520,000 + $235,000/1.1 + $235,000/1.1² + $235,000/1.1³ + $235,000/1.1⁴ + $235,000/1.1⁵ + $245,000/1.1⁶ = -$520,000 + $213,636 + $194,215 + $176,559 + $160,508 + $145,917 + $138,296 = $509,131

initial investment -$380,000

8 year useful life, depreciation per year = ($380,000 - $20,000) / 6 = $60,000

free cash flow per year = $60,000 + $60,000 = $120,000

free cash flow last year = $120,00 + $20,000 = $140,000

NPV = -$380,000 + $120,000/1.1 + $120,000/1.1² + $120,000/1.1³ + $120,000/1.1⁴ + $120,000/1.1⁵ + $120,000/1.1⁶ + $120,000/1.1⁷ + $140,000/1.1⁸= -$380,000 + $109,091 + $99,174 + $90,158 + $81,962 + $74,501 + $67,737 + $61,579 + $65,311 = $269,513

5 0
3 years ago
May 1, 2021, Bibby Company had beginning inventory consisting of 200 units with a unit cost of $7. During May, the company purch
Umnica [9.8K]

Answer:

$7.38

Explanation:

The average cost method recalculates a new cost per unit with each and every purchase made. This new costs would then be used to calculate the costs of goods sold and inventory value.

Average cost per unit = Total Costs ÷ Units available for sale

                                    = (200 x  $7 + 800 x $7 + 600  x $8) ÷ 1,600

                                    = $7.375 or $7.38

The average cost per unit for May is $7.38

4 0
3 years ago
Roanoke Company produces chocolate bars. The primary materials used in producing chocolate bars are cocoa, sugar, and milk. The
Dafna1 [17]

Answer:

Roanoke Company

The standard direct materials cost per bar of chocolate is:

= $0.33.

Explanation:

a) Data and Calculations:

A batch of chocolate = 1,827 bars

Standard Costs for a batch:

Ingredient   Quantity      Price

Cocoa          600 lbs.    $0.40 per lb.

Sugar            180 lbs.    $0.60 per lb.

Milk              150 gal.      $1.70 per gal.

Ingredient   Quantity      Price                 Total Cost

Cocoa          600 lbs.    $0.40 per lb.      $240.00 (600 * $0.40)

Sugar            180 lbs.    $0.60 per lb.         108.00 (180 * $0.60)

Milk              150 gal.      $1.70 per gal.     255.00 (150 * $1.70)

Total cost of batch of chocolate =         $603.00

Cost per bar = $0.33 ($603.00/1,827)

5 0
3 years ago
Fern motors is offering a rebate on cars purchased this month. this activity involves the ____ ingredient of the marketing mix.
saveliy_v [14]

Answer:

Pricing

Explanation:

4 ingredients of marketing mix are Pricing, Product, Place and Promotion(the 4Ps).

Pricing-  is for determining the value that is put on a product including rebates. Deciding the correct intrinsic value of a product puts a lot of factors into consideration like the target market, the consumer willingness to pay, whether it is sufficient enough for the company to make a profit out of it.

Product - answers the <em>what</em>; the actually good or service being offered for sale.

Place- answers the <em>where; </em>the location of product so customers can buy it.

Promotion- any activities to inform the target market that the product exist, how to use it etc. this includes advertisement, word of mouth among others.

6 0
4 years ago
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