Answer:
Partnership by estoppel means that a person who is not technically a partner can be held liable as a general partner would be for any debts and damages owed to a third party.
Answer:
21 security workers
Explanation:
Calculation for how many security workers that was hire
First step is to calculate the amount earned by each employee
Amount earned=80 hours x $14
Amount earned=$1,120
Last step is to calculate how many security workers that was hire
Using this formula
Numbers of Security hired=Security workers labor cost /Amount earned
Let plug in the formula
Numbers of Security hired=$23,520/$1,120
Numbers of Security hired=21 security workers
Therefore the numbers of Security workers that was hired will be 21
Answer:
Yes they are sustainable
Explanation:
The strategies mentioned in the question were laid out my Michael Porter and therefore, we can look analyse his model to understand whether these strategies are sustainable or not.
Porter has categorized strategies into 3 broad categories: Cost Leadership, Differentiation, and Focus strategies (all three are known as "Generic Strategies). Focus strategy is branched out into two sub-segments known as Cost Focus and Differentiation Focus.
Now, the question has already clarified that the strategies in question are both focus strategies. So lets understand what each entails.
Differentiation Focus: A strategy in which the company aims to gain market leadership in a focused market (a specific market) through strategic differentiaion. This strategic differentiaion involves offering a specialized service or a unique product in a niche market. Cost focus strategy is similar in the sense is that that the aim is to offer highly low cost products/services to a niche market. Because of the focus on these niche markets, company's develop a strong understansing of the consumer thereby developing strong brand loyalty with that particular customer base. The key ingredient, again, is that the competitive advantage is being harnessed by focusing just on a particular niche market. Another key component is that the companies using this strategy rely on the consumers in the target market having different needs, tastes, and requirements than consumers in other segments in the industry.
Now, these strategies by desig were put forth my Porter has being sustainable. Hence the term "generic strategies" in that they can be broadly used to create and sustain performance. The focus strategies as defined above are sustainable since they harness the power of having priority knowledge of their target market to provide appropriate services and products. The high brand loyalty and knowledge of consumers give them an edge over competitors (competitive rivalry). Supplier power depends on the nature of products being offered therefore it cant be taken into consideration. Buyer power can be managed since you are prodiving unique service offerings to unique customers. Threat of substitution depends on the product and service offering. Threat of new entry by larger player exists, but due to the focus that the company had in the target market, barriers to entry (long strong brand loyalty) can be developed.
The factors that impede business ability of African can be liken to trade barriers experienced in African region.
Many potential entrepreneur have been discouraged from starting their enterprises because of various business impediment.
The factors that impede the business ability includes:
- Lack of good road route to deliver goods.
- High tax rate for local produced goods.
- Very high rate of import duties.
- Corruptions among officers with key position
- Lack of support for Small & medium enterprises (SME)
- Inaccessibility to finance for the business such as loan.
- Unfavorable government policy or regulation on business corporation
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Answer:
D.
Explanation:
Firms will hire more labor when the marginal revenue product of labor is greater than the wage rate, and stop hiring as soon as the two values are equal.
