Business Questions and Answers

Business

Proponents of the industrial organization model believe that a firm’s competitive advantage is based on external factors. According to this model, a company will get ahead by observing the actions...

Latest answer posted August 26, 2020 10:39 am UTC

3 educator answers

Business

Management is a process or function that mobilizes people and resources to accomplish outlined goals and objectives. According to Henri Fayol, there are five functions that would ensure the process...

Latest answer posted May 19, 2016 8:33 am UTC

2 educator answers

Business

A single trade discount is a one-off benefit extended to the buyer when the individual makes a purchase that meets certain conditions to qualify for the discount. The conditions may include bulk...

Latest answer posted August 2, 2017 9:00 am UTC

2 educator answers

Business

No big company can achieve success or even function without operations management. In order for profits to maximized, operations management needs to done extremely efficiently. It is the job of the...

Latest answer posted September 30, 2018 7:13 pm UTC

2 educator answers

Business

Quantitative analysis, the use of statistical modeling for the purpose of providing a predictive capability, is often used in sales forecasting for the logical reason that it exists largely for...

Latest answer posted June 29, 2017 1:20 pm UTC

2 educator answers

Business

Intrinsic rewards are always non-financial, while extrinsic rewards can be financial or non-financial. Both have their value in the workplace. And certainly, each has some advantages and...

Latest answer posted November 14, 2015 10:04 pm UTC

1 educator answer

Business

Wholesale trade refers to the step of the supply chain before retail trade. Retail trade refers to the point of consumer purchase, where goods are stored, bought, and sold at different outlets...

Latest answer posted January 16, 2019 4:29 am UTC

2 educator answers

Business

An ethical dilemma within the workplace can involve any number of possible scenarios. Let's address, for the purpose of discussion, a common problem that confronts many individuals in many...

Latest answer posted March 31, 2016 1:08 am UTC

1 educator answer

Business

The expert consensus is that the three criteria for judging organizational strengths and weaknesses are (1) past performance of the company, (2) comparison of actual performance against specific...

Latest answer posted August 15, 2016 9:11 pm UTC

1 educator answer

Business

Contingency based management essentially is in constant flux. This style of management holds that no single style is better than others but that they are all valuable in different situations....

Latest answer posted September 14, 2019 1:45 pm UTC

4 educator answers

Business

The most likely answer is no, it would not be profitable to produce more widgets at the current demand. Since it takes the sale of 500 widgets to break even and demand is only at 400 widgets for...

Latest answer posted July 21, 2018 7:37 pm UTC

2 educator answers

Business

This question has been previously answered. Please see the link below, and thank you for using eNotes.

Latest answer posted January 6, 2009 2:00 am UTC

1 educator answer

Business

To understand the importance of information systems in transport, it is necessary to first establish the importance of transport logistics itself. Transport is of fundamental importance to most...

Latest answer posted January 25, 2016 8:45 pm UTC

1 educator answer

Business

Businesses often see programs in terms of costs. A training program has many costs, including paying the trainer, the cost of materials, and time taken by the employee that could otherwise be used...

Latest answer posted July 21, 2019 12:24 am UTC

2 educator answers

Business

There are a number of ways in which the effects of tariffs differ from the effects of quotas. First, there are two important differences in their economic effects. One difference is that tariffs...

Latest answer posted November 29, 2015 5:02 am UTC

1 educator answer

Business

The first period is almost trivial: Income is guaranteed to be $40,000, desired consumption is $40,000---so take in $40,000 and spend all $40,000.It's the second and third period where it gets...

Latest answer posted April 25, 2016 7:56 pm UTC

1 educator answer

Business

Cost-push inflation is the result of the increase in the cost of raw materials, and/or and increase in wages paid. However, both of these factors, materials and wages, either singularly or in...

Latest answer posted November 27, 2008 2:16 am UTC

1 educator answer

Business

Gross Domestic Product (GDP) and Gross National Product (GNP) are both ways to measure the size and strength of an economy. They do so by measuring the market value of all goods and services that...

Latest answer posted September 23, 2016 2:52 pm UTC

1 educator answer

Business

Whether privately-owned or public storage spaces are used to store inventories of ice cream is a matter of economics, and, to some extent, security. Business decisions like this are predicated upon...

Latest answer posted February 29, 2016 3:15 am UTC

1 educator answer

Business

It is a little bit odd to speak of a conflict of interest between labor and management because that is not how we usually use the term “conflict of interest.” A conflict of interest usually occurs...

Latest answer posted November 21, 2015 11:47 pm UTC

1 educator answer

Business

Shlumberger is a company that presently works in more than 85 countries around the world, providing technological solutions for the oil and gas industry, a far-flung empire. This means it needs to...

Latest answer posted December 26, 2015 3:17 pm UTC

1 educator answer

Business

There are many strategies a company can use to improve its customer service. Here are a few. Inc. says that customer service begins with hiring quality employees--particularly managers--who are...

Latest answer posted April 26, 2016 9:01 pm UTC

1 educator answer

Business

When businesses lay employees off, they are trying to improve their profitability (or reduce their losses, which is essentially the same thing). Sometimes, businesses are forced to lay people off...

Latest answer posted April 11, 2016 2:22 pm UTC

1 educator answer

Business

There are a couple ways to approach this question. Here's one way to think about it. GDP can be calculated with this formula: Y = C + I + G + (X-IM), where Y = GDP, C = consumption (goods...

Latest answer posted April 17, 2016 7:51 pm UTC

1 educator answer

Business

There is almost always resistance to change in most organizations, regardless of each organization's mission or function. Change is discomfiting to many people, and mandating or encouraging a...

Latest answer posted June 2, 2017 2:57 am UTC

1 educator answer

Business

The answer to this question is a matter of personal opinion. Different people could legitimately have different views. I will provide an argument on each side of the issue. On the one hand, we...

Latest answer posted August 2, 2016 7:29 pm UTC

1 educator answer

Business

Management can be considered a science because it is a body of knowledge developed systematically utilizing aspects of the scientific method, such as data collection, systematic observation, and...

Latest answer posted July 10, 2016 11:16 pm UTC

1 educator answer

Business

A market in perfect competition describes a situation where individual firms are “price takers” – meaning the price is determined entirely by the intersection of supply and demand and the firm...

Latest answer posted April 18, 2016 1:43 pm UTC

1 educator answer

Business

Managers need to understand the people in their organizations because they have to be able to understand what their superiors want and get their subordinates to fulfill those desires. Neither is...

Latest answer posted July 19, 2016 2:40 pm UTC

1 educator answer

Business

The political aspect of the business environment is usually discussed in conjunction with the legal environment, since it is the political environment that affects legislation of businesses. An...

Latest answer posted August 14, 2016 5:08 pm UTC

1 educator answer

Business

One way to think about the role of finance in the forestry sector is through the program REDD+. This program, initiated by the United Nations, stands for Reducing Emissions from Deforestation and...

Latest answer posted February 2, 2016 7:22 pm UTC

1 educator answer

Business

The question -- what sources would be used in recruiting skills workers -- is very vague, as "skilled workers" could refer to any category of prospective employee, from construction to accounting...

Latest answer posted December 6, 2015 11:02 pm UTC

1 educator answer

Business

The control limits are set at +- 3 standard errors. For this sort of yes/no process the standard errors are given by sqrt(p(1-p)/n) where p is the probability of nonconforming and n is the sample...

Latest answer posted April 22, 2016 8:27 pm UTC

1 educator answer

Business

A summary on improving a business's customer service would logically begin with a brief description of that company's perceived weaknesses or shortcomings that could be responsible for impeding...

Latest answer posted April 26, 2016 1:36 am UTC

1 educator answer

Business

E-commerce can be tracked via numerous software packages that allow users to capture data during page visits and product purchases. The software can capture a variety of information that ranges...

Latest answer posted July 12, 2016 7:38 pm UTC

1 educator answer