Answer:
a. work in process inventory
Explanation:
In Business, an inventory is a term used to describe a list of finished goods, goods still in the production line and raw materials that would be used for the manufacturing of more goods in a bid to meet the unending consumer demands.
Simply stated, an inventory can be classified into three (3) main categories; finished goods, work in progress, and raw materials.
An inventory is recorded as a current asset on the balance sheet because it's primarily the most important source of revenue for a business entity.
Also, the three (3) main cost concept associated with an inventory are;
1. First In First Out (FIFO).
2. Last In First Out (LIFO).
3. Weighted average cost.
Goods that are partially completed by a manufacturer are work in process (WIP) inventory.
Why is strategy implementation referred to as the "graveyard of strategy"? Ma<span>nagers often fail to implement a chosen strategy successfully despite extensive analysis of business environments.
Although tons of planning, time, and research is put into developing a plan ultimately it is up to a manager and management team to put the strategy in play and implement it. If the plan does not get implemented or implemented correctly, this can fall back on being poorly executed by management.
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Answer:
High availability.of cheaper labour
Explanation:
An emerging market is defined as one that does not meet the standards of a fully developed market. For example in the area.of labour cost there is no standard set for it.
So companies can get cheap labour from these economies.
Companies like Apple and Nike have used cheap labour from emerging countries to reduce their cost of production.
Manufacturing bases are established in relatively poorer economies where the workers are willing to work for cheap wage
Answer:
Cost of ownership
Explanation:
The cost ownership includes other elements of cost associated with owning a product eg operating cost.
A common example that comes to mind is the ownership of a car, analysing the total cost of ownership would include cost of fueling and maintaining the car as compared to buying a new brand of car.
It takes someone with foresight to see the bigger picture and look at what the product's real value and cost is over time.
Answer:
c. Universities offer fewer online classes when they generate more revenue than traditional classes.
Explanation:
In this case, the fact that online classes generate more revenue than traditional classes should be an incentive for Universities to offer more online classes instead of fewer online classes. This example clearly does not represent a group responding to an incentive. All of the other examples have a clear cause and consequence relationship and therefore represent groups responding to an incentive.
