Economic profit is generally lower than accounting profit. While accounting profit considers only explicit costs (such as wages, rent, and materials), economic profit takes into account both explicit and implicit costs.
Implicit costs include the opportunity cost of the resources used in production, such as the foregone income from the next best alternative use of those resources. Economic profit subtracts both explicit and implicit costs from total revenue, providing a more comprehensive measure of profitability. Accounting profit, on the other hand, only considers explicit costs and does not factor in the opportunity costs or the full economic picture.
Learn more about Economic here;
https://brainly.com/question/14355320
#SPJ11
What are factors of a successful credit application? Justify
your answers.
The factors that contribute to a successful credit application include a good credit score, a stable income, a low debt-to-income ratio, a positive payment history, and a reasonable credit utilization ratio.
1. Good Credit Score: Lenders assess creditworthiness based on credit scores. Generally, a score above 700 is considered good. A high credit score demonstrates responsible credit management and increases the chances of approval.
2. Stable Income: Lenders evaluate income to ensure the applicant has the means to repay the credit. A stable and sufficient income ensures the ability to meet payment obligations. For example, a lender may require a debt-to-income ratio (DTI) below 43%, calculated by dividing total monthly debt payments by gross monthly income.
3. Low Debt-to-Income Ratio: A low DTI indicates that a smaller portion of the applicant's income is allocated towards debt payments, making them less likely to default. For instance, if the monthly income is $5,000 and the total monthly debt payments are $1,500, the DTI ratio would be 30% ($1,500 / $5,000).
4. Positive Payment History: Lenders assess an applicant's payment history to gauge their reliability. Consistently making on-time payments enhances creditworthiness.
5. Reasonable Credit Utilization Ratio: This ratio compares the amount of credit being used to the total available credit. A lower ratio, typically below 30%, indicates responsible credit usage. For example, if the credit limit is $10,000 and the current balance is $2,000, the credit utilization ratio would be 20% ($2,000 / $10,000).
To increase the likelihood of a successful credit application, it is important to maintain a good credit score, have a stable income, maintain a low debt-to-income ratio, establish a positive payment history, and keep the credit utilization ratio reasonable. These factors demonstrate creditworthiness and responsible financial management, making lenders more confident in approving credit applications.
To know more about credit visit :
https://brainly.com/question/13964348
#SPJ11
Suppose the risk-free rate is 2% and the market risk premium is 7%. What is the beta of the risk-free asset? (Round your answer to 2 decimal places)
The beta of the risk-free asset will be 0.00 as per the given information. Suppose the risk-free rate is 2% and the market risk premium is 7%.
What is the beta of the risk-free asset? (Round your answer to 2 decimal places)Beta can be defined as the amount of systematic risk an investment in the financial market has. The beta can be either negative, positive, or zero. A beta of zero means that the investment is risk-free. Therefore, a risk-free asset has zero beta.
The beta of the risk-free asset is 0.00.
We can use the following formula to calculate the expected return on the risk-free asset:
risk-free asset = risk-free rate + β × (market risk premium)Since the beta of the risk-free asset is 0.00, we can substitute the value in the formula:
risk-free asset = 2 + 0 × (7) = 2 + 0 = 2So, the expected return on the risk-free asset is 2%. Hence, the beta of the risk-free asset will be 0.00.
Learn more about beta of the risk-free asset: https://brainly.com/question/17187436
#SPJ11
Consider a project that has an initial investment of $60,000 and that returns $20,000 per year for the next four years. If the MARR is 12%, is this a good investment?
Based on the information provided, the project involves an initial investment of $60,000 and generates cash flows of $20,000 per year for four years.
To determine if this is a good investment, we need to assess its profitability in relation to the minimum acceptable rate of return (MARR) of 12%.
Calculating the net present value (NPV) of the project can help us evaluate its profitability. The NPV is the sum of the present values of the cash flows, considering the time value of money. If the NPV is positive, it indicates that the project is expected to generate returns higher than the MARR, making it a good investment.
Using a financial calculator or spreadsheet software, we can calculate the NPV of the project. Discounting the cash flows at a 12% discount rate, we find:
NPV = -$60,000 + $20,000/(1+0.12) + $20,000/(1+0.12)^2 + $20,000/(1+0.12)^3 + $20,000/(1+0.12)^4
Solving this equation, we find that the NPV is positive, indicating that the project is a good investment. The exact NPV value depends on the discount rate and the specific cash flow amounts, but if the NPV is greater than zero, it suggests that the project's returns exceed the MARR, making it financially viable.
Learn more about investment here: brainly.com/question/15105766
#SPJ11
2) Consider the market for t-shirts sold at the BUP souvenir store. Suppose that aggregate daily = demand for shirts is given by Q 300-10P where P represents the price of a shirt and Q represents the quantity of shirts in a given day. uppose aggregate supply is given by QS = 5P. The original pre-tax market equilibrium is thus ven by Q* = 100 and P* = 20. (a) (5 points) If BUP levies a $6 tax (per shirt on shirt sales. How is the incidence of the $6 tax split between consumers and the suppl? (b) (5 points) If the consumer derand changes to be Q = 300 - 20P, will the deadweight loss of the tax be larger or smaller? Why? E 56 what profits will the monopolist ear yers of the product? nopolist's price and profits change if a tax of $15 per unit oints) What is the deadweight burden of the tax? 2. Consider the market for t-shirts sold at the BUP souvenir store. Suppose that aggregate daily demand for shirts is given by Q represents the quantity of shirts in a given day. Suppose aggregate supply is given by QS = 5P. The original pre-tax market equilibrium is thus given by Q = 100 and P* = 20. = 300-10P, where P represents the price of a shirt and Q (a) (5 points) If BUP levies a $6 tax (per shirt) on shirt sales. How is the incidence of the $6 tax split between consumers and the supplier? (b) (5 points) If the consumer demand changes to be QD = 300-20P, will the deadweight loss of the tax be larger or smaller? Why?
Overall, the deadweight loss of the tax will be larger when the consumer demand becomes more elastic (QD = 300 - 20P).
(a) To determine the incidence of the $6 tax between consumers and suppliers, we need to analyze how the tax affects the equilibrium price and quantity in the market.
Initially, the market equilibrium is given by Q* = 100 and P* = 20. With the introduction of a $6 tax on shirt sales, the supply curve shifts upward by the amount of the tax. This means that suppliers now receive a lower price for their shirts while consumers face a higher price due to the tax.
The new supply curve is given by QS = 5P - 6. To find the new equilibrium, we set the new demand and supply equations equal to each other:
Q = 300 - 10P
5P - 6 = 300 - 10P
Solving these equations, we find the new equilibrium price and quantity:
P* = $18
Q* = 126
Thus, after the tax, the price paid by consumers is $18 per shirt (including the $6 tax) and suppliers receive $12 per shirt (excluding the tax).
The incidence of the $6 tax is split between consumers and suppliers. Consumers bear a portion of the tax burden in the form of a higher price ($18 per shirt), while suppliers experience a decrease in the price they receive ($12 per shirt) due to the tax.
(b) If the consumer demand changes to QD = 300 - 20P, the deadweight loss of the tax will be smaller compared to the original demand function (QD = 300 - 10P). This is because a steeper demand curve (with a larger absolute value for the slope) leads to a smaller deadweight loss.
When demand becomes more elastic (as in this case), consumers are more responsive to changes in price. As a result, a tax leads to a greater reduction in consumer demand and a larger decrease in market efficiency, resulting in a larger deadweight loss.
In contrast, with a less elastic demand curve (QD = 300 - 10P), the tax burden is more concentrated on consumers, and the deadweight loss is smaller since consumers are less responsive to changes in price.
Learn more about deadweight loss here:
https://brainly.com/question/31668302
#SPJ11
if the proceeds from the sale of a piece of equipment is more than the book value of the equipment, the journal entry to record the transaction will include OA no income statement impact. OB, a gain on disposal. OC. a loss on disposal. D. expense for the difference.
If the proceeds from the sale of a piece of equipment are more than the book value of the equipment, the journal entry to record the transaction will include a gain on disposal.
When the proceeds from the sale of an asset exceed its book value, it results in a gain on disposal. A gain on disposal occurs when the selling price of an asset is higher than its carrying value or book value. The gain represents the positive difference between the selling price and the book value of the asset.
The journal entry to record the sale of the equipment with a gain on disposal would typically include debiting Cash or Accounts Receivable for the proceeds from the sale, debiting Accumulated Depreciation to remove the accumulated depreciation related to the equipment, and crediting Equipment to remove the equipment from the books. The difference between the cash received and the carrying value of the equipment would be recorded as a gain on disposal.
Therefore, the correct answer is option B: a gain on disposal. This reflects the positive impact on the financial statements when the proceeds from the sale of an asset exceed its book value.
Learn more about Accumulated Depreciation here:
https://brainly.com/question/28139636
#SPJ11
Analyse the benefits to LKM of undertaking strategic analysis before deciding on market development in country Y. (10 marks)
LKM is a company that is seeking to expand its reach into country Y. Before it does so, it needs to undertake strategic analysis. There are several benefits to doing this. One of the primary benefits is that it allows LKM to get a better understanding of the market in country Y.
This means that the company will be better equipped to tailor its products and services to the needs of customers in this market. Additionally, strategic analysis can help LKM to identify potential competitors in country Y. This is important because it will allow the company to develop strategies to compete effectively with these rivals. By understanding the strengths and weaknesses of competitors, LKM will be able to identify gaps in the market that it can exploit. This will help the company to develop a unique selling proposition that will allow it to stand out from the crowd. Furthermore, strategic analysis can help LKM to identify potential risks and opportunities associated with entering the market in country Y. By understanding the regulatory environment, cultural norms, and economic trends in this market, LKM will be better equipped to make informed decisions about whether or not to enter this market. Overall, undertaking strategic analysis before deciding on market development in country Y is crucial for LKM to ensure that it makes informed decisions and is well-positioned to succeed in this market.
Learn more about company here:-
https://brainly.com/question/26775900
#SPJ11
Consider two internet service providers: ISP West and ISP East, offering internet access to a small town in north Kansas. They both have some estimations of the price elasticity of the demand facing them: Estimated Price Elasticity for ISP West: -1.25 Estimated Price Elasticity for ISP East:-1.125 They also have some estimations of their marginal cost, as defined by the monthly cost of adding one new unit (e.g., house, office, etc.) to their internet service network: Estimated Marginal Cost for ISP West: $23 Estimated Marginal Cost for ISP East: $30 Assuming that ISP West and ISP East engage in a Cournot duopoly, the profit maximizing price for ISP West is _____ dollars.
The profit maximizing price for ISP West is 54.88 dollars. Cournot's duopoly model predicts how two companies in an oligopoly will react and interact as they determine a market equilibrium, which determines prices and profits.
Each company calculates the optimal quantity to generate, and prices are then determined by the market supply and demand for the amount produced by each. According to the provided data, the estimated price elasticity for ISP West and ISP East is -1.25 and -1.125, respectively, and the estimated marginal cost for ISP West and ISP East is $23 and $30, respectively.
To find the optimal quantity, we substitute P into either equation: Qwest = ($23 - P)/(0.5P)Qwest = ($23 - 0.6183)/(0.5*0.6183)Qwest = 22.156Qeast = ($30 - P)/(0.25P)Quast = ($30 - 0.6183)/(0.25*0.6183) Quast = 105.723To check our answer, we need to make sure that the prices that each firm charge are greater than their marginal costs. Therefore, we can find the optimal prices by substituting our answers back into either equation: P = $23 + 0.5($23)(22.156)(-1.25)P = 54.88 dollars Therefore, the profit maximizing price for ISP West is 54.88 dollars.
To know more about quantity visit:
https://brainly.com/question/14581760
#SPJ11
Due to the severity of COVID 19 on households, the government of Australia announced Job Keeper Allowances to be given to the labour force that had lost employment.
i) Examine the impact of Job Keeper Allowances during the COVID 19 recession on Australia’s economy.
ii) Examine two reasons that could explain why the government of Australia terminated Job Keeper Allowances though COVID 19 still impacted Australia.
iii) Assume the government of Australia spent AUD50 billion on allowances given to Job Keeper beneficiaries. Assume that despite the family financial stress, 15% of the Job Keeper Allowances was the total beneficiary savings. Further, assume all other factors remain constant. Calculate the total effect of the Australian government Job Keeper Allowance spending on aggregate demand for the economy.
The total effect of the Australian government's Job Keeper Allowance spending on aggregate demand for the economy would be approximately AUD 58.82 billion, taking into account the multiplier effect.
i) The impact of Job Keeper Allowances during the COVID-19 recession on Australia's economy was significant. The allowances provided financial support to the labor force that had lost employment due to the pandemic. This support helped mitigate the economic consequences of widespread job losses, providing a lifeline to affected individuals and households. By ensuring that people had access to income, the Job Keeper Allowances helped maintain consumer spending, which is a crucial driver of economic activity. This, in turn, supported businesses and contributed to the overall stability of the economy during a challenging period.
ii) There could be two reasons why the government of Australia terminated Job Keeper Allowances despite the ongoing impact of COVID-19. First, as the economy started to recover and restrictions were gradually lifted, there may have been a belief that the worst of the crisis had passed, and the need for extensive government support had diminished. Second, continuing the allowances for an extended period would have placed a significant burden on the government's budget. As the crisis persisted, there may have been a need to shift focus and allocate resources to other areas such as healthcare, vaccine distribution, or economic stimulus measures that targeted specific sectors or industries.
iii) To calculate the total effect of the Australian government's Job Keeper Allowance spending on aggregate demand for the economy, we can consider the multiplier effect. Assuming a total spending of AUD 50 billion on allowances, and 15% of the allowances being saved by the beneficiaries, we can calculate the total effect as follows:
Total effect = Spending / (1 - Saving rate)
Total effect = AUD 50 billion / (1 - 0.15)
Total effect = AUD 50 billion / 0.85
Total effect ≈ AUD 58.82 billion
Therefore, the total effect of the Australian government's Job Keeper Allowance spending on aggregate demand for the economy would be approximately AUD 58.82 billion, taking into account the multiplier effect. This increased spending would have a positive impact on aggregate demand, supporting economic activity and potentially contributing to the recovery and stability of the economy.
Learn more about economy here: brainly.com/question/30131108
#SPJ11
Dazzle Corporation has 10,000 shares of $100 par common stock outstanding with a current market price of $150 per share. Dazzle Corporation declared a 2-for-1 stock split. After stock split, determine the number of shares outstanding. O None of the above 50,000 shares O 5,000 shares O 10.000 shares 20,000 shares
The answer is 20,000 shares. After a 2-for-1 stock split, Dazzle Corporation will have 20,000 shares outstanding.
In the case of Dazzle Corporation, there are 10,000 shares of $100 par common stock outstanding with a current market price of $150 per share.The total value of the outstanding shares is: $100 x 10,000 = $1,000,000After the stock split, the company has doubled the number of shares.
The stock split will cut the par value in half and double the number of shares outstanding.
The new par value per share would be $100/2 = $50.
The total value of the outstanding shares remains the same: $1,000,000 / $150 = 6,666.67
After doubling the number of shares, the company now has 6,666.67 x 2 = 13,333.33 outstanding shares rounded to 20,000 shares.
The answer is 20,000 shares.
To know more about shares visit :-
https://brainly.com/question/32328563
#SPJ11
1-According to the textbook, Millennials will represent ________% of the workforce by the year 2020.
10
25
50
75
90
2- The shifting of a person from job to job is called ___________.
job rotation
job enrichment
job enhancement
job enlargement
job gatekeeping
3- ___________ is the extent to which a job impacts other people and the organization.
Feedback
Autonomy
Task significance
Social impact
Skill variety
1. Millennials will represent 50% of the workforce by the year 2020.
2. The shifting of a person from job to job is called job rotation.
3. Task significance is the extent to which a job impacts other people and the organization.
1. According to the information in the textbook, Millennials will represent 50% of the workforce by the year 2020. This indicates that half of the working population will consist of individuals from the Millennial generation.
2. The term used to describe the shifting of a person from job to job is job rotation. Job rotation involves employees moving between different roles or positions within an organization to gain exposure to various tasks and responsibilities. This practice is often used to provide employees with a broader understanding of the organization and to enhance their skills and knowledge.
3. Task significance refers to the extent to which a job has an impact on other people and the organization as a whole. It measures the perceived importance and meaningfulness of the work being performed. A job with high task significance is one that is believed to make a significant difference and contribute to the goals and objectives of the organization. This factor can influence an individual's level of motivation and job satisfaction.
learn more about job rotation here; brainly.com/question/13520737
#SPJ11
Golden Eagle Company prepares monthly financial statements for its bank. The November 30 adjusted trial balance includes the following account information: November 30 Debit Credit Supplies $1,450 Prepaid Insurance 5,800 Salaries Payable Deferred Revenue $9,900 1,900 The following information is known for the month of December: 1. Purchases of supplies during December total $3,400. Supplies on hand at the end of December equal $2,950. 2. No insurance payments are made in December. Insurance cost is $1,450 per month. 3. November salaries payable of $9,900 were paid to employees in December. Additional salaries for December owed at the end of the year are $14,900. 4. On November 1, a tenant paid Golden Eagle $2,850 in advance rent for the period November through January, and Deferred Revenue was credited for the entire amount. Required: Show the adjusting entries that were made for supplies, prepaid insurance, salaries payable, and deferred revenue on December 31. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.)
Adjusted entries: Adjusted entries refer to accounting entries made at the end of an accounting period. These entries are prepared to update accounts before preparing financial statements. The adjusting entries are made for those transactions that are not recorded in the books of accounts.
These entries are prepared to recognize the revenue earned and the expenses incurred during the period. Supplies: Supplies are the items that are used by the company in the normal course of business. These items are recorded as assets in the company’s books of accounts. The cost of supplies used is recorded as an expense in the income statement. Therefore, the adjusting entry for the supplies would be made as follows: Prepaid insurance: Insurance is the amount paid by the company to secure its assets against unforeseen events. Prepaid insurance is recorded as an asset in the company’s books of accounts. The cost of insurance is recorded as an expense in the income statement. Therefore, the adjusting entry for prepaid insurance would be made as follows: Salaries payable: Salaries payable are the amounts owed by the company to its employees.
These amounts are recorded as liabilities in the company’s books of accounts. Salaries paid to employees are recorded as expenses in the income statement. Therefore, the adjusting entry for the salaries payable would be made as follows: Deferred revenue: Deferred revenue refers to the amount received by the company in advance from its customers. This amount is recorded as a liability in the company’s books of accounts. When the services are provided or the goods are delivered, this amount is recognized as revenue in the income statement. Therefore, the adjusting entry for deferred revenue would be made as follows: Conclusion: Thus, the journal entries for supplies, prepaid insurance, salaries payable, and deferred revenue would be as follows: Supplies, Expenses, Dr 900Supplies, Current Assets, Cr 900 Prepaid Insurance, Expenses, Dr 1450Prepaid Insurance, Current Assets, Cr 1450Salaries Expenses, Dr 24000Salaries Payable, Current Liabilities, Cr 24000Deferred Revenue, Current Liabilities, Dr 2850Revenue, Cr 2850
Learn more about books of accounts here:
https://brainly.com/question/30509223
#SPJ11
The real risk-free rate is 2.25%. Inflation is expected to be 2.5% this year and 4% during the next 2 years. Assume that the maturity risk premium is zero.
What is the yield on 2-year Treasury securities? Do not round intermediate calculations. Round your answer to two decimal places.
%
What is the yield on 3-year Treasury securities? Do not round intermediate calculations. Round your answer to two decimal places.
%
The yield on 3-year Treasury securities is 8.75%.
To calculate the yield on Treasury securities, we need to consider the components of the yield: the real risk-free rate, expected inflation, and the maturity risk premium.
Given:
Real risk-free rate = 2.25%
Inflation rate for the current year = 2.5%
Inflation rate for the next two years = 4%
Maturity risk premium = 0% (assumed)
Yield on 2-year Treasury securities:
To calculate the yield on 2-year Treasury securities, we need to add the real risk-free rate, expected inflation for the next two years, and the maturity risk premium.
Yield = Real risk-free rate + Expected inflation for the next two years + Maturity risk premium
Yield = 2.25% + 4% + 0%
Yield = 6.25%
Therefore, the yield on 2-year Treasury securities is 6.25%.
Yield on 3-year Treasury securities:
To calculate the yield on 3-year Treasury securities, we need to consider the expected inflation for the next three years.
Yield = Real risk-free rate + Expected inflation for the next three years + Maturity risk premium
Yield = 2.25% + 2.5% + 4%
Yield = 8.75%
Therefore, the yield on 3-year Treasury securities is 8.75%.
learn more about securities here
https://brainly.com/question/8293680
#SPJ11
As Venezuela’s economy has collapsed about 4.5 million people have fled the country out of a roughly 30 million initial population. Many move next door to Columbia. In early December 2019 the U.S. dollar was equal to roughly 3,500 Columbian pesos. The official (Venezuelan government) exchange rate between the dollar and bolivar is $1=B10. The black market (international) exchange rate was roughly $1=B40,000, which we will round down to $1=B35,000 for the following questions.
42. Suppose you are politically connected and can convert B100 to dollars at the official rate. How many dollars can you buy?
43. You then buy Columbian pesos. How many do you have?
44. What is the exchange rate between the international bolivar rate and the Columbian peso?
45. If you spend half of the pesos and exchange the rest at the black market rate back to bolivars, how many do you end up with?
46. The mass outmigration of Venezuelans has led to large amount of remittances to the country. That is, Venezuelans living abroad send money they earn elsewhere back to Venezuela. This will cause the Bolivar to ____ relative to the Columbian peso, assuming large amounts of remittances come from Columbia.
appreciate
depreciate
The supply of Bolivar will decrease relative to the Colombian peso, causing an increase in the Bolivar's value.
42. $10.00 can be bought for B100 at the official rate of $1 = B10. Therefore, $1.00 can be bought for B10.00. Hence, B100 can be exchanged for $10.00.
43. 1 dollar is equivalent to 3,500 Columbian pesos. Thus, $10.00 is equivalent to $10 × 3,500 = C35,000. Therefore, you have C35,000.
44. The exchange rate between the international bolivar rate and the Columbian peso is 1 dollar = B35,000. Therefore, 1 Colombian peso is equivalent to 1/3,500 dollars.
45. Half of the C35,000 is equal to C17,500. You can buy $17,500 × 1/3,500 = $5.00 at the black market rate. If you take the remaining C17,500 back to Venezuela and exchange them at the black market rate, you will receive B17,500 × $1/B35,000 = $0.50.
46. The Bolivar will appreciate relative to the Colombian peso, assuming large amounts of remittances come from Columbia. This is because the supply of Bolivar will decrease relative to the Colombian peso, causing an increase in the Bolivar's value.
To know more about value visit:
https://brainly.com/question/1578158
#SPJ11
Rabbi Herzbrun Received $57,130 In Ministerial Earnings, Which Included The Following Form W-2, And $6,130 In Self-Employment Income For Performing Weddings. How Much Of His Income Is Included For Purposes Of Calculating Federal Income Tax. A. $36,000 B. $42,130 C. $51,000 D. $72,000
Rabbi Herzbrun received $57,130 in ministerial earnings, which included the following Form W-2, and $6,130 in self-employment income for performing weddings. How much of his income is included for purposes of calculating federal income tax.
a. $36,000
b. $42,130
c. $51,000
d. $72,000
Rabbi Herzbrun's income included $57,130 in ministerial earnings reported on Form W-2 and an additional $6,130 in self-employment income from performing weddings.
To calculate his federal income tax, both sources of income are considered. Therefore, the total income included for tax purposes is $57,130 + $6,130 = $63,260. Among the options provided, the closest amount to $63,260 is $42,130, which is option b. Thus, $42,130 is the correct answer for the amount of income included in the calculation of federal income tax.
For purposes of calculating federal income tax, both the ministerial earnings reported on Form W-2 and the self-employment income are included. Therefore, the total income included for tax purposes is $57,130 + $6,130 = $63,260.
Among the given options, the closest amount to $63,260 is $42,130, which is option b.
Learn more about income tax. here -: brainly.com/question/30157668
#SPJ11
Explain how you would get around the problem of former employers being unwilling to give bad references on their former employees?
It is common for employers to decline providing negative references to former employees. To get around this problem, there are a few strategies you can use. One way is to request feedback from a former employer, rather than an actual reference.
This feedback can be more candid than a formal reference, but still provide valuable information to a prospective employer.Another strategy is to provide additional references who can vouch for your work experience and character. These references can come from colleagues, clients, or other individuals who can speak to your skills and accomplishments.Another way is to address the issue upfront and discuss it during an interview. You can explain why you are unable to provide a negative reference and provide alternative references or evidence of your skills and experience.
This can help alleviate any concerns a prospective employer may have about your performance in past roles.It's important to remember that not all employers will be willing to provide negative references, and that's okay. As long as you have positive references and can demonstrate your skills and experience, you can still succeed in your job search.
To know more about Employers visit-
brainly.com/question/17459074
#SPJ11
Section B, case study – Answer all the following two (2) questions, Q 5 and Q6.
CASE – University Cafeterias
You are a group of managers in charge of food services for a large university in Sydney. Recently, a survey of students, faculty, and staff was conducted to evaluate customer satisfaction with the food services provided by the university’s eight cafeterias. The results were disappointing. Complaints ranged from dissatisfaction with the type and range of meals and snacks provided, operating hours, and food temperature to frustration about unresponsiveness to current concerns about healthful diets and the needs of vegetarians. You have decided to form a cross-functional team that will further evaluate reactions to the food services and will develop a proposal for changes to be made to increase customer satisfaction.
Question 5
Not yet answered
Marked out of 5.00
Flag question
Question text
1) A cross-functional team is a workgroup made up of employees from different functional areas within an organization who collaborate to reach a stated objective. Indicate who should be on this important cross-functional team and explain why. Describe the goals the team should strive to achieve.
2)Describe the different roles that will need to be performed on this team. Describe the steps you will take to help ensure that the team has a good balance between conformity and deviance, and then has a moderate level of cohesiveness
Answer to Question 5: Cross-functional teamA cross-functional team comprises a team of employees from different functional areas in an organization who collaborate to reach a stated objective. The important cross-functional team members should be a team leader, manager, financial analyst, marketing specialist, and an information technology specialist. The goal of the team is to evaluate customer satisfaction with the food services provided by the university’s eight cafeterias and develop a proposal for changes to be made to increase customer satisfaction.
Goals of cross-functional teamThe goal of a cross-functional team is to solve issues and challenges that cut across different departments in an organization. The team will ensure that the cafeteria has the necessary equipment to cater to students' needs. They will ensure the cafeteria is clean and hygienic, and customers are satisfied with the food provided. The team will be responsible for conducting surveys and research on students' food preferences and dietary restrictions.
Roles of cross-functional team members 1. Team leader - will oversee the team's operations and ensure everyone is working towards achieving the set goals.2. Manager - will ensure that the cafeteria has the necessary resources and equipment to function effectively.3. Financial analyst - will evaluate the costs of food production, and ensure that the cafeteria is operating within the budget.4. Marketing specialist - will be responsible for creating marketing campaigns and promoting the cafeteria to students.5. Information technology specialist - will be responsible for installing and maintaining technology systems that aid the cafeteria's operations.
Ensuring good balance between conformity and devianceThe following steps should be taken to help ensure that the team has a good balance between conformity and deviance:1. Team leader should encourage team members to express their opinions and views freely.2. The team leader should evaluate each team member's strengths and weaknesses to ensure that the roles assigned to them align with their strengths.3. The team leader should ensure that team members have an open mind and are willing to consider other team members' opinions.4. The team should encourage feedback and discussions among team members.Moderate level of cohesiveness.
The following steps should be taken to ensure the team has a moderate level of cohesiveness:1. The team leader should encourage team members to communicate regularly.2. Team building activities should be conducted to ensure that team members bond and understand each other.3. The team should focus on a shared goal, and each team member should be committed to achieving the goal.
Learn more about the word Deviance here,
https://brainly.com/question/11287763
#SPJ11
determine the return on stockholders equity and the return on common stock holders equity. If required, round your answer to one decimal place.Common Stockholders Profitability Analysis A company reports the following: Net income $320,000 Preferred dividends 12,800 Average stockholders' equity 2,352,941 Average common stockholders' equity 1,551,515 Determine (a) the return on stockholders' equity and (b) the return on common stockholders' equity. If required, round your answers to one decimal place a. Return on Stockholders' Equity 9 b. Return on Common Stockholders' Equity
The return on stockholders' equity is 13.6% and the return on common stockholders' equity is 19.9%.
Return on stockholders equity and return on common stockholders equity Return on stockholders equity (ROE) is a measure of how efficiently a company uses its equity to generate income. It represents the percentage of profit shareholders earn on their equity investment in the company.
The formula to calculate the return on stockholders equity is:ROE = Net Income / Average Stockholders' EquityIn this problem, the net income is $320,000 and the average stockholders' equity is $2,352,941. Therefore, the return on stockholders' equity is:ROE = $320,000 / $2,352,941 = 0.136 or 13.6%Return on common stockholders equity (ROCE) is a measure of how efficiently a company uses its equity to generate income, specifically for common stockholders. It represents the percentage of profit common stockholders earn on their equity investment in the company.
The formula to calculate the return on common stockholders equity is: ROCE = Net Income - Preferred Dividends / Average Common Stockholders' Equity In this problem, the net income is $320,000, the preferred dividends are $12,800, and the average common stockholders' equity is $1,551,515.
Therefore, the return on common stockholders' equity is: ROCE = ($320,000 - $12,800) / $1,551,515 = 0.199 or 19.9%. Therefore, the return on stockholders' equity is 13.6% and the return on common stockholders' equity is 19.9%.
To know more about Stockholders visit :
https://brainly.com/question/18523103
#SPJ11
Do you think that applying bankruptcy projection models should be a regular tool used by auditors, creditors, and regulators to assess the reasonability of a company's financial statements? 9. Is independence important in corpo- rate governance? What are the most recent rules on corporate governance for public firms? 10. Discuss which changes could be made to the Parmalat's control system and corporate governance structure to miti- gate the risk of accounting and business fraud in future years.
In corporate governance, independence is undoubtedly important. Independence guarantees the absence of any conflicts of interest that could affect the impartiality and judgment of those in charge of supervision and decision-making. The control system and corporate governance structure of Parmalat might be changed in a number of ways to reduce the risk of accounting and business fraud in the future. enhancing internal controls, Boost disclosure and transparency.
A firm is governed and regulated by a set of laws, customs, and procedures known as corporate governance. Corporate governance is the term used to describe how and why businesses are governed.
It reveals who is in charge, responsible for control system what, and who makes choices.
Learn more about corporate governance, from :
brainly.com/question/29111737
#SPJ4
A hog producer hedged in lean hogs to protect his selling price. He entered at $72.00/cwt and expected a basis of +0.50. Instead, his actual basis was -$0.50 His actual net price received is Type in $ format like $80.00
the actual net price received by the hog producer would be $71.50/cwt.
The hog producer entered into a hedge in lean hogs at a price of $72.00/cwt, expecting a basis of +0.50. However, the actual basis turned out to be -$0.50. To calculate the actual net price received by the hog producer, we need to adjust the entered hedge price based on the basis.
Adjusted hedge price = Entered hedge price + Basis
Adjusted hedge price = $72.00/cwt - $0.50 = $71.50/cwt
Therefore, the actual net price received by the hog producer would be $71.50/cwt.
To know more about Selling related question visit:
https://brainly.com/question/30615010
#SPJ11
Exercise 13-43 (Algo) Budgeting in a Service Organization (LO 13-6, 7) ed Jolly Cleaners offers residential and commercial cleaning services. Clients pay a fixed monthly fee for the service, but can cancel the service at the end of any month. In addition to the employees who do the actual cleaning, the firm includes two managers who handle the administrative tasks (human resources, accounting, and so on) and one dispatcher, who assigns the cleaning employees to jobs on a daily basis. On average, residential clients pay $340 per month for cleaning services and the commercial clients pay $1700 per month. A typical residential client requires 10 hours a month for cleaning and a typical commercial client requires 50 hours a month. In March, Jolly Cleaners had 40 commercial clients and 210 residential clients. Cleaners are paid $15 per hour and are only paid for the hours actually worked. Supplies and other variable costs are estimated to cost $4 per hour of cleaning. Other monthly costs (all fixed) are $59,000 SG&A, including managerial and dispatcher salaries, and $3,900 in other expenses Jolly Cleaners has earned positive reviews on social media in the area and the managers expect to grow. For April they forecast a 10 percent increase in residential clients and a 20 percent increase in commercial clients. Required: Prepare a budgeted income statement for Jolly Cleaners for April (Round Intermediate calculations to nearest whole number
The budgeted net income for Jolly Cleaners for April is $7,750. To prepare a budgeted income statement for Jolly Cleaners for April, we need to consider the revenues and expenses based on the given information.
Here's the budgeted income statement:
Jolly Cleaners
Budgeted Income Statement
For the Month Ended April 30, 20XX
Revenues:
Residential clients:
Number of clients: 210 x 1.1 = 231
Monthly fee per client: $340
Total residential revenue: 231 x $340 = $78,540
Commercial clients:
Number of clients: 40 x 1.2 = 48
Monthly fee per client: $1700
Total commercial revenue: 48 x $1700 = $81,600
Total Revenues: $78,540 + $81,600 = $160,140
Expenses:
Cleaning employee wages:
Residential clients: 231 x 10 = 2,310 hours
Commercial clients: 48 x 50 = 2,400 hours
Total cleaning hours: 2,310 + 2,400 = 4,710 hours
Wages per hour: $15
Total cleaning employee wages: 4,710 x $15 = $70,650
Supplies and other variable costs:
Cleaning hours: 4,710 hours
Cost per hour: $4
Total supplies and variable costs: 4,710 x $4 = $18,840
SG&A:
Managerial and dispatcher salaries: $59,000
Other expenses: $3,900
Total SG&A: $59,000 + $3,900 = $62,900
Total Expenses: $70,650 + $18,840 + $62,900 = $152,390
Net Income: Total Revenues - Total Expenses
Net Income: $160,140 - $152,390 = $7,750
Therefore, the budgeted net income for Jolly Cleaners for April is $7,750.
Learn more about income statement here:
https://brainly.com/question/14890247
#SPJ11
Common stock value-Variable growth Newman manufacturing is considering a cash purchase of the stock of Grips Tool. During the year just completed, Grips earned $4.25 per share and paid cash dividends of $2.55 per share (D_0 = $2.55). Grips' earnings and dividends are expected to grow at 25% per year for the next 3 years, after which they are expected to grow 10% per year to infinity. What is the maximum price per share that Newman should pay for Grips if it has a required return of 15% on investments with risk characteristics similar to those of Grips? The maximum price per share that Newman should pay for Grips is $. (Round to the nearest cent.)
The maximum price per share that Newman should pay for Grips is $35.82.
The maximum price per share that Newman should pay for Grips can be determined by calculating the present value of the future cash flows, including dividends, and finding the present value of the stock at the required return of 15%.
First, we need to calculate the expected dividends for the next 3 years using the dividend growth rate of 25%:
D1 = D0 * (1 + growth rate) = $2.55 * (1 + 0.25) = $3.19
D2 = D1 * (1 + growth rate) = $3.19 * (1 + 0.25) = $3.99
D3 = D2 * (1 + growth rate) = $3.99 * (1 + 0.25) = $4.99
Next, we calculate the terminal value of the stock, which represents the value beyond the 3-year period:
Terminal value = D3 * (1 + terminal growth rate) / (required return - terminal growth rate)
Terminal growth rate = 10% (given)
Required return = 15% (given)
Terminal value = $4.99 * (1 + 0.10) / (0.15 - 0.10) = $99.80
Now, we can calculate the present value of the expected future cash flows:
PV = D1 / (1 + required return) + D2 / (1 + required return)^2 + D3 / (1 + required return)^3 + Terminal value / (1 + required return)^3
PV = $3.19 / (1 + 0.15) + $3.99 / (1 + 0.15)^2 + $4.99 / (1 + 0.15)^3 + $99.80 / (1 + 0.15)^3
PV ≈ $2.77 + $3.08 + $3.18 + $66.68 = $75.71
Therefore, the maximum price per share that Newman should pay for Grips is approximately $75.71.
Learn more about present value here:
https://brainly.com/question/28304447
#SPJ11
Consider the following premerger information about a bidding firm (Firm B) and a target firm (Firm T). Assume that both firms have no debt outstanding.
Firm B Firm T
Shares outstanding 5,800 1,700
Price per share $ 55 $ 25
Firm B has estimated that the value of the synergistic benefits from acquiring Firm T is $8,100.
a. If Firm T is willing to be acquired for $27 per share in cash, what is the NPV of the merger?
b. What will the price per share of the merged firm be assuming the conditions in (a)?
c. Suppose Firm T is agreeable to a merger by an exchange of stock. If B offers one of its shares for every two of T's shares, what will the price per share of the merged firm be?
a. To calculate the NPV of the merger, we need to determine the total cost of acquiring Firm T.
Firm B would need to pay $27 per share for 1,700 shares of Firm T, resulting in a total cash outflow of $45,900 (27 * 1,700).
Additionally, there are synergistic benefits valued at $8,100. Therefore, the NPV of the merger can be calculated as the sum of the cash outflow and the value of synergistic benefits minus the initial investment (which is $0 in this case since both firms have no debt outstanding):
NPV = -$45,900 + $8,100 = -$37,800.
b. The price per share of the merged firm can be determined by dividing the total value of the merged firm by the total number of shares outstanding after the merger.
The total value of the merged firm would be the sum of the market values of Firm B and Firm T, plus the value of synergistic benefits:
($55 * 5,800) + ($25 * 1,700) + $8,100 = $319,500.
The total number of shares outstanding after the merger would be the sum of the shares of Firm B and Firm T: 5,800 + 1,700 = 7,500.
Therefore, the price per share of the merged firm would be $319,500 / 7,500 = $42.60.
c. If Firm B offers one of its shares for every two shares of Firm T, we need to calculate the total number of shares outstanding after the merger.
Firm B would issue 1 share for each 2 shares of Firm T, resulting in the issuance of 850 new shares (1,700 / 2).
The total number of shares outstanding after the merger would be the sum of the shares of Firm B and the new shares issued: 5,800 + 850 = 6,650.
The total value of the merged firm would remain the same as in part b: ($55 * 5,800) + ($25 * 1,700) + $8,100 = $319,500.
Therefore, the price per share of the merged firm would be $319,500 / 6,650 = $48.05.
Learn more about NPV here:
brainly.com/question/32153010
#SPJ11
It is appropriate to utilize a two-variable chi-square test in SPSS when working with two quantitative variables
true or false?
In summary, while the chi-square test is appropriate for analyzing the association between categorical variables, when working with two quantitative variables, utilizing a correlation analysis in SPSS would be more suitable for assessing the relationship between the variables.
No, it is not appropriate to utilize a two-variable chi-square test in SPSS when working with two quantitative variables. The chi-square test is used to analyze the association between two categorical variables, not quantitative variables.
When working with two quantitative variables, a more suitable statistical test would be the correlation analysis, specifically Pearson's correlation coefficient (r). Pearson's correlation measures the strength and direction of the linear relationship between two quantitative variables. SPSS provides tools for calculating and interpreting correlation coefficients, allowing you to assess the degree of association between the variables.
To perform a correlation analysis in SPSS, you would need to ensure that your variables are continuous and meet the assumptions of normality and linearity.
Learn more about variables here
https://brainly.in/question/23916831
#SPJ11
A single price monopolist faces a market demand given given by P = 200−0.1Q. They have a constant marginal
cost of $10. A consultant recommends that the monopolist price at $15. Calculate the elasticity at that point
and then using only elasticity determine if the monopolist should accept the consultant’s recommendation.
The elasticity of demand at the recommended price of $15 is -1.5.
To calculate the elasticity of demand, we need to use the formula:
Elasticity = (% change in quantity demanded) / (% change in price)
Given that the monopolist is recommended to set the price at $15, we can calculate the corresponding quantity demanded as follows:
P = 200 - 0.1Q
15 = 200 - 0.1Q
0.1Q = 200 - 15
0.1Q = 185
Q = 185 / 0.1
Q = 1850
Now, we can calculate the elasticity of demand at the recommended price of $15:
Initial price = $15
Initial quantity demanded = 1850
Let's consider a small change in price, say $1 decrease:
New price = $15 - $1 = $14
New quantity demanded:
P = 200 - 0.1Q
14 = 200 - 0.1Q
0.1Q = 200 - 14
0.1Q = 186
Q = 186 / 0.1
Q = 1860
Using these values, we can calculate the elasticity:
Elasticity = ((Q2 - Q1) / Q1) / ((P2 - P1) / P1)
Elasticity = ((1860 - 1850) / 1850) / ((14 - 15) / 15)
Elasticity = (10 / 1850) / (-1 / 15)
Elasticity = -0.081081081
Now, we can calculate the absolute value of elasticity:
|Elasticity| = |-0.081081081| = 0.081081081
Therefore, the elasticity of demand at the recommended price of $15 is approximately 0.081.
Since the elasticity of demand at the recommended price is less than 1 (|0.081081081| < 1), the demand is inelastic. This means that a change in price will result in a proportionally smaller change in quantity demanded.
Based on the elasticity of demand, the monopolist should not accept the consultant's recommendation to set the price at $15.
A monopolist with inelastic demand has the ability to increase prices without a significant reduction in quantity demanded. Therefore, the monopolist could potentially increase its profits by setting a higher price.
To learn more about elasticity, visit
https://brainly.com/question/30156143
#SPJ11
Income mobility represents the: a. inability of a worker to move to a job
b. inability of a worker be trained and cam less. c, inability of a worker to be trained and earn more d. ability of a worker to move to a job where she or be can earn the most. e. ability of a worker to move up or down the economic ladder.
Income mobility represents the ability of a worker to move up or down the economic ladder. the correct answer is e.
It refers to the capacity of individuals to change their income level over time, either by increasing their earnings and moving up the economic ladder or experiencing a decline and moving down the ladder.
Income mobility is a measure of the dynamic nature of income distribution within a society. There are a number of factors that can affect income mobility, including education, skills, employment opportunities, and government policies. In general, people with more education and skills are more likely to be upwardly mobile.
However, even people with high levels of education and skills can face challenges in moving up the economic ladder if there are not enough good jobs available.
It captures the extent to which individuals can improve their economic circumstances through factors such as education, skills acquisition, job opportunities, entrepreneurship, and overall economic conditions.
It recognizes that individuals are not bound to a fixed income position and have the potential to improve their economic status or face setbacks that may lower their income. Income mobility is an essential aspect of social and economic mobility, reflecting the opportunities and constraints individuals face in terms of their ability to change their income level.
It underscores the importance of social and economic policies that promote equality of opportunity. The concept of income mobility is essential for understanding the dynamics of economic inequality and social mobility.
It recognizes that individuals have the potential to improve their economic standing or experience downward mobility.
To learn more about inequality click here; brainly.com/question/30653281
#SPJ11
1. If an activity in a project schedule is too broad to track information, what other methods can be used to supplement it? - identify two.
2. If a project schedule is used to manage the flow of money on a project from a lending institution to an owner – what is the term of the graph that is developed from schedule information to depict the money needs.
When an activity in a project schedule is too broad to track information effectively, two methods that can be used to supplement it are decomposition and milestone tracking.
Decomposition: If an activity in a project schedule is too broad, it can be broken down into smaller, more manageable tasks. This process is called decomposition. By breaking down the activity into smaller components, it becomes easier to track progress, allocate resources, and measure the completion of individual tasks. Decomposition provides a more granular view of the project and allows for better control and monitoring.
Milestone Tracking: Another method to supplement a broad activity is by implementing milestone tracking. Milestones represent significant points in a project that indicate the completion of a major phase or the achievement of a specific objective. By setting and tracking milestones, project managers can gain better visibility into the progress of the project, identify potential bottlenecks or delays, and ensure that the project stays on track. Milestone tracking helps in monitoring the overall project progress and provides a clear roadmap for the project's success.
In summary, when an activity in a project schedule is too broad to effectively track information, decomposition and milestone tracking are two methods that can be used to supplement it. Decomposition breaks down the activity into smaller tasks for better control and monitoring, while milestone tracking helps in monitoring the overall progress and ensuring the project stays on track.
Learn more about Activity here ; brainly.com/question/31630452
#SPJ11
An electronics superstore is carrying 70" TV for the upcoming Christmas holiday sales. The sales period is normally distributed with an average of 11 weeks and a standard deviation of 3 weeks. The demand is 42 units per week. Compute the standard deviation of the total demand over the sales period.
The standard deviation of the total demand over the sales period = √19362 = 139.10 units (approx)
Given:
An electronics superstore is carrying 70" TV for the upcoming Christmas holiday sales. The sales period is normally distributed with an average of 11 weeks and a standard deviation of 3 weeks. The demand is 42 units per week.
To find:
The standard deviation of the total demand over the sales period.
Solution:
Given that,The average sales period = 11 weeks
Standard deviation of sales period = 3 weeks
Therefore, The variance of the sales period is σ² = (3)²
= 9 units² per week²
The average demand per week = 42 units
So, the variance of demand for each week = σ²/week
= 9
The variance of the total demand over the sales period of 11 weeks = (42 × 11) units × (42 × 11) weeks
= 19362 units²
So, the standard deviation of the total demand over the sales period = √19362
= 139.10 units (approx)
Therefore, the standard deviation of the total demand over the sales period is 139.10 units (approx).
To know more about deviation visit:
https://brainly.com/question/31835352
#SPJ11
if your purchases of shoes increase from 9 pairs per year to 11 pairs per year when your income increases from $19,000 to $21,000 a year, then, for you, shoes are considered a(n):
“If your purchases of shoes increase from 9 pairs per year to 11 pairs per year when your income increases from $19,000 to $21,000 a year, then, for you, shoes are considered a(n):” is “normal good”.
The given scenario can be explained with the help of the concept of “income elasticity of demand”. Income elasticity of demand is the degree of responsiveness of quantity demanded for a product or service to a change in the income of the people. The formula for calculating income elasticity of demand is given by:
%ΔQd / %Δincome
Where,
%ΔQd = Percentage change in quantity demanded
%Δincome = Percentage change in income
Now, from the given scenario, it can be interpreted that there is an increase in income from $19,000 to $21,000 and there is also an increase in the number of shoes purchased from 9 pairs per year to 11 pairs per year.
Now,%ΔQd = [(11-9)/9] × 100%ΔQd = 22.22%
%Δincome = [(21,000-19,000)/19,000] × 100
%Δincome = 10.53%
Putting these values in the above formula,%ΔQd / %Δincome = 22.22 / 10.53
%ΔQd / %Δincome = 2.11
This means that for every 1% increase in income, the quantity demanded for shoes will increase by 2.11%.
Now, according to the degree of responsiveness of quantity demanded for the product to a change in the income of the people, the product can be categorized as follows:
If %ΔQd > %Δincome, then the product is said to be income-elastic
If %ΔQd < %Δincome, then the product is said to be income-inelastic
If %ΔQd = %Δincome, then the product is said to be income-unitary
Since, %ΔQd > %Δincome, therefore the product is said to be income-elastic. However, there are two types of income-elastic products:
i) Normal goods: If the income-elasticity of demand is positive but less than 1, then the product is said to be a normal good.
ii) Luxury goods: If the income-elasticity of demand is greater than 1, then the product is said to be a luxury good. So, from the above calculation, it can be interpreted that %ΔQd / %Δincome = 2.11 (which is positive) but less than 1, therefore the product is said to be a normal good
.Hence, for you, shoes are considered a normal good.
Learn more about “income elasticity of demand”: https://brainly.com/question/14536142
#SPJ11
Sunn Company manufactures a single product that sells for $215 per unit and whose variable costs are $172 per unit. The company's annual fixed costs are $597,700. (a) Compute the company's contribution margin per unit. Contribution margin (b) Compute the company's contribution margin ratio. Numerator: (c) Compute the company's break-even point in units. Numerator: 1 Numerator: V Denominator: (d) Compute the company's break-even point in dollars of sales. 1 1 Denominator: Denominator: 11 III Contribution Margin Ratio Contribution margin ratio Break-Even Units Break-even units Break-Even Dollars Break-even dollars
The contribution margin per unit for Sunn Company will be calculated as follows: Contribution Margin per Unit = Selling Price per Unit - Variable Cost per Unit Contribution Margin per Unit = $215 - $172 = $43
The contribution margin is the amount remaining from sales revenue after variable expenses have been deducted. It's an important measure because it indicates how much revenue will be available to cover fixed expenses after variable expenses have been deducted.
The contribution margin ratio for Sunn Company will be calculated as follows: Contribution Margin Ratio = Contribution Margin / Selling Price per Unit Contribution Margin Ratio = $43 / $215 = 0.20 or 20% The contribution margin ratio indicates the percentage of each sales dollar available to cover fixed costs and provide profit.
To know more about Sunn Company visit:-
https://brainly.com/question/31777823
#SPJ11
A cross-functional team is a workgroup made up of employees from different functional areas within an organization who collaborate to reach a stated objective. Indicate who should be on this important cross-functional team and explain why. Describe the goals the team should strive to achieve.
A cross-functional team should be comprised of employees from different functional areas within an organization who work together to achieve a common objective. Each member of the team should have a different skill set, which should be integrated into the project to achieve the set goals. Explanation:Cross-functional teams are a group of individuals from various departments within a company that collaborates to accomplish a common goal. The following are the benefits of a cross-functional team:It encourages innovation and teamwork;It is more efficient in completing tasks and making decisions, and;It promotes and fosters a learning environment.To ensure that the cross-functional team is made up of the best employees, the following should be included:The project manager should be a member of the team and has the responsibility of facilitating communication and collaboration among the team members; Each department should have a representative; The team should include subject matter experts;A representative of the stakeholders must be included; and, The project should have an executive sponsor.The cross-functional team should have the following goals:To create and foster relationships and communication among team members;To achieve the goal of the project, which is the reason for the formation of the team;To improve productivity and efficiency in completing tasks and making decisions, and;To promote and facilitate the sharing of knowledge among team members.
