Answer:
This is an example of quality control
Explanation:
A production process usually involves the action of a variety of things that all perform specific functions towards a common goal, usually the production of a finished good or service. This therefor means that a type of management is needed to ensure that all these aspects are handled in such away that the set organizational needs are met. This can be broadly defined as management control. Management control involves the control and operation aspects of a production process to ensure that the organizational goals are met.
One aspect of management control that is very important in the production environment is quality control. Quality control involves the inspection of the production process and the products to determine the quality. The quality of the process and the products is usually measured against set organizational and production standards. This therefor means that if the process or the production quality falls below the standard, then the quality of the product can be said to be low while if the quality meet or surpass the standards then the quality is high.
Quality control helps companies identify areas that need to be improved, thus raising overall product value.
A firm is a recognized cost leader but has a strategic goal to become a cost and service leader. "Provide special attention to your most important clients by adapting your services to their needs." is one initiative that could be planned and implemented to achieve this goal
This is further explained below.
<h3>What is one initiative that could be planned and implemented to achieve this goal?</h3>
Generally, A company's long-term objective is to dominate both its industry's price point and level of service.
Among the many strategies that may be developed and put into action to accomplish this would be to "provide your most valuable customers individualized service tailored to their specific requirements."
In conclusion, Strategic goals are the particular financial and non-financial objectives and achievements that a firm seeks to accomplish over the course of a specified period of time, often the next three to five years.
These goals may be broken down into two categories: financial and non-financial.
Read more about Strategic goals
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Answer:
cash 1,470
sales discount 30
return goods 1,100
sales revenue 2,600
to record payment received from Morton Company
Explanation:
on sale:
account receivable 2,600
sales revenue 2,600
we analize the commercial terms:
2/7 within the first 7 days, paying the invoice generates a 2% discounts
n/30 after that, until 30 days pays the nominal amount
balance at payment date:
sales for 2,600
returned goods: (1,100)
balance 1,500
discount 1,500 x 2% = 30
journal entry:
cash 1,470 (1,500 nominal - 30 discount)
sales discount 30
return goods 1,100
sales revenue 2,600
Answer:
As an entrepreneur, you have a <u>competitive advantage</u> when buyers choose your products or services over your competitors.
Explanation:
Competitive advantage can be understood as an advantage that any organization or any firm might have over its competitors due to various possible reasons. When customers prefer the product of any particular company over other companies in the same genre, then the former company is an aid to possess a competitive advantage over its competitors. The reason for this preference could below the pricing of the product, greater quality or sometimes even greater brand value of the product.
