Answer and Explanation:
The identification of each transaction as an explicit cost or implicit cost is as follows
a. It is an explicit cost as the cost would be paid to the factors of production
b. It is also an explicit cost as the cost would be paid to the factors of production
c. It is an implicit cost as it is considered to be the hidden cost
d. It is also an implicit cost as it is considered to be the hidden cost
Answer:
Profit
Explanation:
Profit goals is very essential in business in order to meet the set target. It is important to set a profit goals under to have a good returns for the business as well as the investors involved, it gives an insight to device the best strategy for great returns financially. theoretically, profit goals= summation of all sales / Units of sales
It should be noted that Seeking to obtain as high a financial return on their investments (ROI) as possible, firms will often set profit goals.
Answer:
Empathy
Explanation:
Empathy is the ability of a person of business entity to understand the thoughts, feelings, and emotions of their customers. It is the ability to personalise the customer's situation.
This makes the business go the extra mile in solving the customer's problem.
In this scenario Northwestern mutual felt the pain and understood the financial needs of the families of first responders during the 9-11 attack.
So without official death certificates they paid death benefits only 3 days after the attacks.
Other insurance companies however did not empathise with their customers and only paid death benefits some months to a year.
Answer:
Selecting
Explanation:
The answer has been added into the question in this paragraph. It is in bold letters. Opportunity recognition is the process of identifying, <u>selecting</u>, and developing new venture opportunities.
when we talk about opportunity recognition we are talking about the ability to perceive new ideas, opportunities for a business or venture. as well as also being on the lookout for ways to improve. a person could just come up with new money making venture, or he could come up with ways to improve an existing venture.
