The Correct Option is : The manager and employee jointly set objectives for the employee is the second step in management by objective.
What Is Management by Objectives (MBO)?Management by objectives (MBO) is a strategic management model that aims to improve the performance of an organization by clearly defining objectives that are agreed to by both management and employees.
According to the theory, having a say in goal setting and action plans encourages participation and commitment among employees, as well as aligning objectives across the organization.
Management by objectives outlines five steps that organizations should use to put the management technique into practice.
The first step is to either determine or revise organizational objectives for the entire company. This broad overview should be derived from the firm's mission and vision.The second step is to translate the organizational objectives to employees. In 1981, George T. Doran used the acronym SMART (specific, measurable, acceptable, realistic, time-bound) to express the concept.Step three is stimulating the participation of employees in setting individual objectives. After the organization's objectives are shared with employees, from the top to the bottom, employees should be encouraged to help set their own objectives to achieve these larger organizational objectives. This gives employees greater motivation since they have greater empowerment.Step four involves monitoring the progress of employees. In step two, a key component of the objectives was that they are measurable for employees and managers to determine how well they are met.The fifth step is to evaluate and reward employee progress. This step includes honest feedback on what was achieved and not achieved for each employee.Therefore, we can conclude that the correct option is A.
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The inventory is added to the inventory records after three documents are reconciled. One of those documents is the?
The inventory is added to the inventory records after three documents are reconciled. One of those documents is the receiving report.
To record the contents of a delivery to a firm, a receiving report is employed. The employees of the company accepting the delivered items fill out the form. On a receiving report, the following details are often present: the moment the delivery was received, in both time and date.
Receiving reports typically have a heading with the name of the business, its address, the date, and a receiving report number. The date received, FOB terms, shipping company, and a list of the received goods are all included in a receiving report.
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In conducting business, a firm and its owners have the right not to be subjected to?
In conducting business, a firm and its owners have the right not to be subjected to politically correct statements.
Businesses should be run ethically for many reasons. To maintain a good reputation. Retain existing customers and attract new ones. to avoid litigation. Reduce employee turnover. To avoid government interference. To please customers, employees, and society.
Business ethics is nothing but the application of ethics in business. Business ethics is the application of general ethics to business conduct. Ethical business conduct promotes and promotes the well-being of society, improves profitability, and enhances business relationships and employee productivity.
Social responsibility programs increase employee morale, lead to increased productivity, and impact company profitability. Companies that implement social responsibility initiatives can increase customer retention and loyalty.
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The risk for firms that follow the unrelated diversification strategy in developed economies is that:_____.
The risk for firms that follow the unrelated diversification strategy in developed economies is that During recessions, external investors frequently sell their conglomerate stock. Business risk is the potential for a firm or organization to have lower earnings or failure. A business risk is anything that compromises a company's capacity to meet its financial objectives.
Numerous variables may combine to produce firms risk. Damage from fire, flood, or other natural disasters are a few examples of hazards with uncertainty as their basis. sudden financial loss brought on by a recession or the failure of another company that owes you money.
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What are some of the key competencies needed by hr managers to become full business partners?
In order to fulfill this role, HR managers must have four primary competencies: communication, analysis capabilities, relationship-building skills and leadership qualities to become a full business partner.
A mid- to senior-level role based on the size of the organization and the number of employees. In smaller businesses, the entire HR function may fall under the purview of an HR manager, who may also be in charge of HR within a department, organizational unit, or HR itself.
Although certain UK workers might be referred to as generalists, the HR generalist in America would be the equivalent. They'll likely report to numerous junior HR employees. Depending on the organization, HR managers may be in charge of determining the direction of policy.
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In a radio station contest, the first prize is $2,000 and the second prize is $500. the probability of winning the first prize is 0.005 and the probability of winning the second prize is 0.008. the station runs this contest many, many times to increase its listening audience. what is the expected payout for each time the station offers the opportunity to win the prizes?
The expected payout for each time the station offers the opportunity to win the prizes is $14.
What is the probability?
Probability is defined as the sum of all data and the number of all the data.
Probability can be defined as the ratio of the number of favorable outcomes to the total number of outcomes of an event. For an experiment having 'n' number of outcomes, the number of favorable outcomes can be denoted by x. The formula to calculate the probability of an event is as follows.
Probability(Event) = Favorable Outcomes/Total Outcomes = x/n
In a radio station contest, the first prize is $2,000 and the second prize is $500.
The probability of winning the first prize is 0.005 and the probability of winning the second prize is 0.008.
The station runs this contest many, many times to increase its listening audience.
The expected payout for each time the station offers the opportunity to win the prizes is;
First prize × Probability of winning first prize + First prize ×Probability of winning second prize
→2,000×0.005+500×0.008
→10+4
→14
Hence, The expected payout for each time the station offers the opportunity to win the prizes is $14.
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Profit-maximizing firms enter a competitive market when existing firms in that market have.
For businesses to be profitable, there are numerous avenues to take. In completely competitive markets where profit-maximizing enterprises are making a profit, new businesses will enter the market.
What is Perfectly competitive market?Perfect competition occurs when all businesses sell the same goods, market share has no bearing on prices, businesses can enter or quit without any restrictions, consumers have complete or perfect information, and businesses are unable to set prices.
Simply expressed, profit maximization is the process that businesses use to determine the prices, inputs, and output levels that typically result in the most profit. This process can be short-term or long-term.
The marginal revenue must equal the marginal cost (MR=MC) for businesses to maximize profits in a fully competitive market. The revenue curve's slope, known as MR, is typically equal to the slopes of the demand and price curves (P).
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Suppose the u.s. economy faces a $1,000 million recessionary gap and mpc is 0.8. what fiscal policy will close the recessionary gap?
Expansionary fiscal policy contains tax cuts, transfer payments and expanded government spending on projects such as infrastructure advancements.
Expansionary fiscal policyExpansionary fiscal policy is most suitable when an economy is in slump and growing below its potential GDP.However, expansionary fiscal policy can result in increasing interest rates, growing trade debts, and accelerating inflation, particularly if applied during beneficial economic developments.
These side impacts from expansionary fiscal policy tend to partly offset its stimulative effects. It seeks to spur economic activity by arranging more money into the hands of consumers and businesses. It's one of the major forms governments reply to compacting in the business cycle and prevent economic recessions.
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If a teen buys a customizable cell phone face plate to avoid being rejected by peers, this is an example of?
It is an example of utilitarian Influence. When someone conforms to perceived expectations of what peers desire in order to obtain rewards or avoid penalties, it is said that they are under the influence of utilitarianism. Purchases of goods and/or brands can be affected.
The utilitarian part of a behavior-related attitude pertains to how the peers perceives the behavior's value, utility, and wisdom. On the other side, utilitarian items are largely instrumental and are purchased for their functional qualities. Hedonic consumption, as opposed to utilitarian consumption, refers to goods that, via their use or possession, elicit positive feelings, satisfaction, and pleasure.
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If the wage rate in the agriculture sector is lower than the manufacturing sector, then labor will migrate to the manufacturing sector. this will cause:________
If the wage rate in the agriculture sector is lower than in the manufacturing sector, then labor will relocate to the manufacturing sector. this will drive both wages and the marginal product of labor in the manufacturing sector to decrease.
Why are pay low in the agricultural sector?The wages are low in the agricultural sector due to work productivity cannot rise in the agricultural sector as the marginal productivity of land goes on declining. Therefore wages stay low resulting in poverty.
Why do you think agricultural laborers are forced to take low salaries?They are pushed to labor by their landlord. They can be replaced by any other labor, ready for less pay. They don't have a stable source of earnings.
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When all or a portion of an account receivable is determined to be uncollectible, what occurs?
Account receivable is reduced
Allowance account is reduced
What are uncollectible accounts receivable?
The portion of credit sales in accounts receivable that the business does not anticipate collecting from a customer is referred to as uncollectible accounts receivable. On a company's balance sheet, accounts receivable are valued using the concept of uncollectible accounts.
How are uncollectible accounts recorded?
According to the allowance approach, a debit is made to Allowance for Uncollectible Accounts and a credit is made to both Accounts Receivable and the customer's account in the subsidiary ledger when an account proves to be uncollectible.
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A school wants 2 chaperones for every 25 students on a field trip. There are 100 students going on the field trip. How many chaperones does the school need?
Answer:
8
Explanation:
100/25=4
4x2=8
Automobile manufacturers such as ford and general motors often use ________ distribution, such that dealers act as retailers.
Automobile manufacturers such as ford and general motors often use indirect distribution, such that dealers act as retailers.
What is Indirect Distribution?Indirect Distribution is a method of distribution used by a manufacturer that involves one or more third parties (intermediaries) who assist in delivering goods to consumers. Third-party providers typically include exporters, importers, wholesalers, and retailers. Retailers obviously sell the manufacturer's products, but they may also sell the products of competitors. As a result, as a manufacturer, you have little to no control over what other products are sold in stores.
What is a Distribution Strategy?A distribution strategy is a method of getting products or services to customers. Choosing the most efficient distribution method for your company is critical to increasing revenue and retaining customer loyalty. To cater to different consumer bases, some businesses choose to use multiple distribution methods. For example, if you're selling a leather futon and want to target people aged 60 and up, you might choose to sell products directly through a catalog. You may decide to sell products indirectly to a younger customer base by partnering with a retailer such as Walmart.
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Contribution margin ______.
i. equals sales
ii. minus fixed expenses
iii. covers fixed cost and profit is first used to cover variable expenses
Contribution margin covers fixed cost and profit is first used to cover variable expenses.
The contribution margin refers to sales revenue minus variable expenses. So if the sales revenue doubles, it will lead to the increase in variable costs. Contribution margin shows the aggregate amount of revenue which is available after variable costs, to cover fixed expenses and provide profit to a business.
The amount of money a business has to cover its fixed costs and contribute to net profit or loss after paying variable costs is known as contribution margin. Thus, it also measures whether a product is generating enough revenue to pay for fixed costs and determines the profit generated by it.
Hence, option C is correct.
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name an internal data source that can be used for planning
Answer:
Sales. Internal data in the sales department include revenue, profits, and bottom line. ...
Finance. ...
Marketing. ...
Human Resource.
Why are foreign mnes like ups seeking to invest in india?
The foreign MNC's like UPS seeking to invest in India because of the country's market potential, skilled workforce and political stability.
The foreign MNCs are investing in India because of cheaper production costs. India is a critical growth market for logistics giant United Parcels Service (UPS) as it aims to provide the predictable and reliable service to B2B domestic market through its new venture called MOVIN.
India's market potential, skilled workforce and political stability are the three key reasons that make India the favored destination for foreign investment. When compared to other countries India is a relatively cheaper place to conduct business.
Hence, these reasons attracts foreign investors towards India.
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When people are asked to say how many windows they have in their dwelling, the amount of time people take to come up with the answer __________.
When people are asked to say how many windows they have in their dwelling, the amount of time people take to come up with the answer depends on the number of windows.
What percentage of the population is described as gifted according to IQ standards?
No universally accepted definition of giftedness exists for either children or adults, but the majority of school placement decisions and the majority of longitudinal studies over the course of a person's life have focused on people with IQs in the top 2.5 percent of the population, or IQs above 130.
What are the 4 types of thinking?
Convergent or analytical thinking, divergent thinking, critical thinking, and creative thinking are the four different categories of "thinking talents." In order to comprehend the world around us, think critically, solve issues, make logical decisions, and form our own values and views, we employ these skills.
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If a firm has 50 employees at the point it applies for health coverage, what is its classification?
If a firm has 50 employees at the point it applies for health coverage, it classifies as a small employer.
To be eligible for small business medical health insurance, an agency has to have between one and 50 employees. This is taken into consideration as a small commercial enterprise for purposes of purchasing organization medical health insurance. When you have extra than 50 employees, you will need to: observe for huge group insurance
Under the ACA, employers with 50 or greater full-time employees (or the equal in element-time personnel) ought to offer health insurance to 95% of their complete-time personnel or pay a penalty to the IRS. This penalty is pretty hefty—$3,860 in step with the worker in line with the year (in 2020).
The Affordable Care Act (ACA) is a comprehensive reform law, enacted in 2010, that will increase medical health insurance coverage for the uninsured and implements reforms to the medical health insurance market. This consists of many provisions which are constant with AMA coverage and holds the capacity for a higher health care system.
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Align Technology uses a ________ approach to produce clear plastic removable aligners. repetitive focus process focus product focus mass customization crossover
Align Technology uses a mass customization approach to produce clear plastic removable aligners. repetitive focus process focus product focus mass customization crossover.
A company's process strategy is an approach to transforming resources into goods and services. Intermittent processes are organized around processes. Device utilization is lower in process-oriented facilities. A typical full-service restaurant uses a product-centric process.
Process Design and plastic removable Analysis is a module that examines networks of unit operations and unit processes and attempts to fully understand them in terms of material and energy flows. That is, it should be possible to calculate the total amount of all chemicals present in each part of the chemical process.
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What strategies did the lifeguard use to try to get the patron to understand the importance of clearing the pool?
Most important strategies of lifeguard is tracking activities in and near the water through customer surveillance.
Stopping injuries by way of minimizing or doing away with risky conditions or behaviors. imposing facility policies and policies and educating buyers about them. Purchasers need to know about the risks that could purpose harm. behaviors that lead to damage. shoppers can be surprising with facility capabilities, or be so excited that they do no longer study symptoms or take note of guidelines.
The lifeguard has a whistle to alert the ones concerned. In worst instances, lifeguards alert co-workers and emergency rescue when a person is severe injured or is going below water.
The number one obligation as a lifeguard is to save you drowning and other accidents from occurring. candidates need to be able to make sure the protection of consumers by minimizing or getting rid of unsafe conditions or behaviors.
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What is the name of the promotional strategy that involves coordinating the various promotional?
"Integrated marketing communications" is the promotional strategy that involves coordinating the various promotional.
What is Integrated marketing communications?The practise of combining company's marketing elements, including such public relations, social networks, audience analytics, business growth concepts, and advertising, into a brand image that is constant across various media channels is known as integrated marketing communication (IMC).
Some key features of integrated marketing communication are-
It enables both public and private organisations and corporations to provide an enjoyable and smooth customer experience for a good or service, as well as to enhance an organization's reputation and connections with stakeholders. People with experience in marketing communications may look for work throughout the marketing communications sectors, in professions including journalism, market consulting and research public relations, non-profit & government, entertainment, and radio, and other related businesses.A multidisciplinary subject called integrated marketing communication includes the use of both traditional and new media. Integrated marketing communications, as its name implies, is a holistic marketing strategy that takes into account marketing strategy within the broader framework of an organization's goals and demands for company development and upkeep.To know more about Integrated marketing communication, here
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Increasing the batch size on a resource with setups always increases the capacity of the resource. True or false?.
False, the capacity of the resource with the setup time increases, but the bottleneck may be another process. So increasing the batch size does not necessarily increase the capacity of the process .
Batch size :
The batch size is a number of samples processed before the model is updated. The number of epochs is the number of complete passes through the training dataset. The size of a batch must be more than or equal to one and less than or equal to the number of samples in the training dataset.
Batch size on capacity of resources :
By definition, no setup time is required between operation batches. In this analysis, assume that the operation batch size is the same as the transfer batch size, meaning that the units processed in any one cycle of an operation move on to the next operation as a batch at the same time.
Here are the general steps for determining optimal batch size to maximize process capacity:
Determine the capacity of each resource for different batch sizes.Calculate the capacity for several batch sizes, including the minimum and maximum allowable size.Determine whether the bottleneck changes from one resource to another.The bottleneck may shift if some resources have the same cycle time regardless of batch size and others have changing cycle times based on batch size.The operation’s cycle time is for a batch of parts, not just a single unit.
Determine the batch size that causes the bottleneck to change.In general, this occurs when the capacity of the original bottleneck equals that of the new bottleneck.Learn more about capacity of resources :
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The document that shows the levels of management and formal lines of authority is a(n) _____.
The tiers of control and formal traces of authority are a(n) organizational chart.
“Control” is the method of working with and thru others to successfully acquire the goals of the organization, through correctly the usage of restricted resources in the changing international. It allows for reaching organizational goals - It arranges the elements of manufacturing, assembles and organizes the assets, and integrates the assets in an effective way to achieve goals. It directs group efforts towards the fulfillment of pre-determined dreams.
Management Is a wonderful process which includes making plans, organizing, actuating and controlling; utilizing each science and art, and followed so as to accomplish pre-decided targets."
An organizational chart shows the internal shape of an organization or organization. The personnel and positions are represented by packing containers or other shapes, every so often along with photos, contact statistics, e-mail and page hyperlinks, icons, and illustrations. instantly or elbowed lines link the levels collectively.
An organizational chart ought to visually show the hierarchical repute of a selected worker relative to different people inside the enterprise. as an example, an assistant director will continuously fall without delay underneath a director on the chart, indicating that the former reviews the latter.
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Lucas wants to buy a used car that will cost $. how much will his monthly payment be if he puts $ down and finances the remainder at or two years? his monthly payment will be $ nothing
The monthly payment of loan is $134.26.
What is loan?A loan is the lending of money by one or more persons, organizations, or other entities to other individuals, organizations, or other entities in finance. The recipient incurs a debt and is typically required to pay interest on that loan until it is repaid, in addition to repaying the primary amount borrowed.
A loan is a sum of money borrowed from a lender by an individual or company. It is divided into three categories: unsecured and secured loans, conventional loans, and open-end and closed-end loans.
A loan is defined as an agreement to lend money with interest and a repayment plan. A loan is an agreement to lend you money to help you buy a house.
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A(n) _____ is a service offered by mutual funds that enables an investor to earn a fully compounded rate of return on their investments.
One service that is offered by mutual funds to enable their investors to earn a fully compounded rate of return on investments is Automatic reinvestment plan.
What is an automatic reinvestment plan?This is a plan that certain investment services offer which allows an investor to earn such a return on their investment that it is similar to a fully compounded rate of return.
It works by taking the entire investment that someone has made, adding the returns that they have earned on that investment so far, and then reinvesting all of it.
Doing this ensures that returns are earned on both the investment, and the returns that it has already made. Mutual funds do this to help their clients make more money.
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The __________________ is the relationship between the number of inputs (such as units of labor) that a firm uses and the resulting units of output (such as quantity of widgets produced).
The Production function is the relationship between the number of inputs that a firm uses and the resulting units of output .
Production function --
A production function shows the output or total product as more of the variable input in our case labor is added. the function shows the regions of increasingly marginal product, decreasing marginal product and negative marginal product.
In economies , equation that expresses the relationship between the quantities of productive factors used and the amount of product obtained.Production function helps in making short term decisions, such as optimum level of output. Helps in making long term decisions, such as deciding the productive level. Helps in calculating the least cost combination of various factors inputs at a given level of output.
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A buyer has the right to buy a property at an agreed price within the next six months. This is a(n)?
An option contract is when a buyer has the right to buy a property at an agreed price within the next six months or within the stated time period.
A real estate option contract is, in its most basic sense, a specially created contract that only exists between the seller and the buyer. In this contract, the seller grants the buyer the option to acquire the property at a set price and within a specified time frame.
To put it another way, an option contract is a specific contract that grants a buyer the sole right to buy a certain piece of real estate. What about this arrangement most interests you? Once this option is active, the seller of the property is prohibited from making any other offers on it until the predetermined time period has passed.
Under an option contract, the buyer has the choice to buy the property, but they are in no way required to do so.
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The _____________ objection occurs most often when the buyer doesn't understand how the features of the product or service might be applied to benefit the buyer.
The Product/Service Objection objection occur most often when the buyer doesn't understand how the features of the product or service might be applied to benefit the buyer.
What is a common objection?
Price-based common sales objections. The most frequent kind of opposition to a sale is price. "How much will this thing set me back?" – Every possible prospect. Prospects that are genuinely interested in purchasing will nevertheless protest the price and complain that it is too high or make hints that they would like it for a lower price.
What is product or service objection?
When a prospect expresses concern about the good or service a salesperson is offering, objection management occurs when the salesperson reacts in a way that allies the concern and permits the deal to proceed. Price, product fit, or rivals are the most frequent points of contention.
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The inspection clause for ____contracts allows for the contracting officer to charge not only the cost of rework to the contractor but also any additional costs associated with re-inspection.
The inspection clause for fixed price contracts allows for the contracting officer to charge not only the cost of rework to the contractor but also any additional costs associated with re-inspection.
A cost reimbursement agreement requires the contracting officer to negotiate an "estimated total cost" and a flat rate payment to the contractor.
A key reason for the CoR to understand contracts and their organization is to know all contract requirements and deliverables. This knowledge helps CORs track contractor performance and ensure contractors comply with written contracts.
It is government policy to use design-based acquisition methods and personalized services (rather than non-personalized services) when procuring services. Interested parties can appeal to the government if they believe the contract was erroneously given to another company.
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Your textbook notes a new form of policy experiment that would provide everyone with a guaranteed income called.
Your textbook notes a new form of policy experiment that would provide everyone with a guaranteed income called Universal Basic Income.
What is a Universal Basic Income (UBI)?UBI is a government scheme in which every adult citizen receives a set amount of money on a regular basis. A basic income system's aims are to reduce poverty and to replace existing need-based social programs that may require more bureaucratic engagement. The concept of universal basic income has gained traction in the United States as automation replaces labor in manufacturing and other sectors of the economy. A recent two-year experiment in Finland in which universal basic income essentially replaced unemployment benefits found that UBI users were no more likely than the control group to obtain new work.To learn more about Universal Basic Income from the given link
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What is a specific set of organizational practices, policies, and programs, plus a philosophy that actively supports efforts to help employees achieve success at both work and home considered?
The specific set of organizational practices, policies, and programs, plus a philosophy that actively supports efforts to help employees achieve success at both work and home considered is -work-life effectiveness. This is further explained below.
What is organizational practices?Generally, An organizational practice is the habitual application of knowledge inside an organization for the purpose of carrying out a certain function. This application of knowledge has developed over the course of time as a result of the history, people, interests, and activities of the organization.
In conclusion, The precise combination of corporate practices, policies, and programs, plus a mindset that actively supports efforts to assist individuals to achieve success at both work and home regarded called -work-life effectiveness.
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