Business and Management
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Elasticity of demand for products within the selected industry relevant to Katrina’s Candies
$7.50ECO550 Week 2 Discussion 2
“Estimating Elasticity of Demand” Please respond to the following:
From the e-Activity, analyze the elasticity of demand for products within the selected industry relevant to Katrina’s Candies. Determine the factors involved in making decisions about pricing these products that you believe to be the most influential. Provide a rationale for your response.
2 Pages
Problem of employees stealing products at Wal-Mart
$20.00PART I HW Questions
- You are trying to solve the problem of employees stealing products at Wal-Mart. Classify this as an Operational, Managerial or Strategic problem and support your claim. What decision making process would you use to solve the problem?
- Define critical success factors (CSFs) and key performance indicators (KPIs), for an online business like Amazom.com. About 150 words 2-3 references
- What-if-analysis You’ll need to download the excel spreadsheet. Get familiar with the columns and rows of the spreadsheet. Note that the cell in yellow highlight is the ONLY cell that you need to change to recalculate all the information in the table. Note that all the formulas have a reference to cell $B$3; the “$” in front of the “B” and “3” mean it’s an absolute reference. Absolute references don’t change if they are copied.
- How many products are needed to sell to make a $40.00 profit if the markup is 1.1 (ie 10% markup)
- How many products are needed to sell to make a $100.00 profit if the markup is 1.5 (ie 50% markup)?
- If I know only 100 Coffee Mugs will sell, what markup should I use to make 200 dollars?
- The technique of using one (or a few) cells variable values is called “What if” analysis. How has this technique supported the decision making process
- 4) Artificial intelligence (AI). How are Artificial Intelligence Techniques used to enhance business?5) Managers often use business process Work Flow Tools – software applications that allow them to model the work flow in their business. An example is Microsoft’s Project Manager. Select a workflow tool from http://en.wikipedia.org/wiki/List_of_collaborative_software and provide an overview of the product. (I tried one and had to register to see the demo)
PART I Discussion Questions
There are several discussion questions chose from (See WebTycho classroom for the questions). After selecting the question and providing your response, copy and paste both the question and response here (and in the Discussion Area in the WEEKLY conference)
Q1. Go to Actionly.com and review what their business does. You can even try it for 14 days free if you’d like. Explain four of the main tools and why they would be important for a business
Big Time Toymaker Case Study
$5.00Big Time Toymaker Case Study
- At what point, if ever, did the parties have a contract?
- What facts may weigh in favor of or against Chou in terms of the parties’ objective intent to contract?
- Does the fact that the parties were communicating by e-mail have any impact on your analysis in Questions 1 and 2 (above)?
- What role does the statute of frauds play in this contract?
- Could BTT avoid this contract under the doctrine of mistake? Explain. Would either party have any other defenses that would allow the contract to be avoided?
- Assuming, arguendo, that this e-mail does constitute an agreement, what consideration supports this agreement?
Comparison and Contrast of six sigma, lean, and kaizen
$17.50Comparison and Contrast of six sigma, lean, and kaizen
Abstract
This paper will work to compare and contrast six sigma, lean process improvement, and Kaizen. In so doing, it will serve to elaborate on the different similarities in each of these process improvement methods and the ways in which they differ, detailing a clear understanding of each of the three different approaches.
Keywords: process improvement methods, business tools, compare, contrast, lean, six sigma, Kaizen
4 Pages
Why has Wal-Mart been so much more successful than its competitors
$32.50Why has Wal-Mart been so much more successful than its competitors? What is Wal-Marts Competitive advantage?
8 pagesEcon 101 practice question for Exam 1
$5.00- Each month Jacquelyn spends exactly $50 on ice cream regardless of the price. Jacquelyn’s price elasticity of demand for ice cream is:
- A) B) one.
- C) greater than
- D) less than one, but greater than zero.
- Egg producers know that the elasticity of demand for eggs is 0.1. The hens went crazy and laid 5%
more eggs than usual. To sell all those additional eggs, they will have to lower price by:
A) 0.1% B) 1% C) 5% D) 50% - Nations can gain from trade with other nations even if they are less productive in all industries than the nations they trade with.
- A) True
- B) False
- If demand is perfectly inelastic, the deadweight loss caused by a tax will be zero.
- A) True
- B) False
- Suppose apartments rent for $1,600 in Boston. If the City of Boston forces each landlord to charge $1,200, there will be:
- A) a decrease in producer surplus for each landlord. B) a shortage of new apartments in Boston.
- C) an increase in consumer surplus for Bostonians who can find apartments for $1,200. D) all of the above.
- The demand for textbooks is price inelastic. Which of the following would explain this?
- A) Many alternative textbooks can be used as substitutes. B) Students have a lot of time to adjust to price changes.
- C) Textbook purchases consume a large portion of most students’ incom D) The good is a necessity.
- A major state university in the South recently raised tuition by 12%. An economics professor at this university asked his students, “Due to the increase in tuition, how many of you will transfer to another university?” One student out of about 300 said that he or she would transfer. Based on this information, the price elasticity of demand for education at this university is:
- A)
- B) highly elastic. C) highly inelastic. D)
Use the following to answer questions 8-10: Figure: Market for Hamburgers
- (Figure: Market for Hamburgers) The figure shows the weekly market for hamburgers at the Tasty Burger Palace. If the price of a hamburger is $1.20 and 300 hamburgers are supplied, producer surplus will equal:
A) $60. B) $65. C) $135. D) $360. - (Figure: Market for Hamburgers) The accompanying figure shows the weekly market for hamburgers at the Tasty Burger Palace. If the Palace sells 400 hamburgers, producer surplus will equal:
A) $650. B) $400. C) $510. D) $240. - (Figure: Market for Hamburgers) The accompanying figure shows the weekly market for hamburgers at the Tasty Burger Palace. The maximum total surplus for the market for the Palace burgers is and it occurs at a price equal to .
- A) $550; $1.50
- B) $640; $1.50
- C) $1050; $2
- D) Not enough information is provided to answer this question, since the maximum total surplus could occur at a price that is not marked in the figure.
- You manage a popular nightclub and lately revenues have been disappointing. Your bouncer suggests that raising drink prices will increase revenues, but your bartender suggests that decreasing drink prices will increase revenues. You aren’t sure who is right, but you do know that:
- A) your bouncer thinks the demand for drinks is elastic, while your bartender thinks the demand for drinks is inela
- B) your bouncer thinks the demand for drinks is inelastic, while your bartender thinks the demand for drinks is elastic.
- C) both the bouncer and bartender think the demand for drinks is elastic. D) both the bouncer and bartender think the demand for drinks is inelastic.
- If they produce only hamburgers, then in a single day Sarah can produce 10 hamburgers while Abe can produce 5 hamburgers. If they only make milkshakes, then in a single day Sarah can produce 10 milkshakes while Abe can produce 4 milkshakes. We then know that:
- A) Sarah has an absolute advantage and a comparative advantage in making ham B) Sarah has an absolute advantage and a comparative advantage in making milkshakes.
- C) Abe has an absolute advantage and a comparative advantage in making hamburgers
- D) Abe has an absolute advantage and a comparative advantage in making milkshakes
- A group of dairy farmers are trying to raise milk prices by 10%. If the price elasticity of demand for is
A) 10% B) 7.5% C) 15% D) 13% 0.75, and the price elasticity of supply for milk is 0, then by how much should farmers reduce their milk production to obtain the 10% increase?
- The total surplus generated in a market is:
- A) the excess supply due to the imposition of a price floor.
- B) the surplus that exists when a good is not scarce, defined as the total amount (if any) by which quantity supplied exceeds quantity demanded at a zero price.
- C) the net benefit to consumers, defined as the excess of consumer surplus over producer surplus. D) the sum of consumer surplus and producer surplus.
- The publisher of an economics textbook finds that when the book’s price is lowered from $70 to
$60, sales rise from 10,000 to 15,000. The price elasticity of demand is:
A) 500. B) 50%. C) 3.5. D) 2.6. - Sometimes airlines raise ticket prices as the flight departure date approaches in the hope of increasing revenue. The airlines raise their prices on the assumption that:
- A) consumer demand becomes more price elastic as departure time approaches. B) consumer demand becomes less price elastic as departure time approaches. C) consumers are not aware of airline prices.
- D) consumer demand is unrelated to prices.
Compare and contrast the different methods of hedging transaction exposure
$40.00BSAD 680 Final Exam
Directions:
Answer four of the following seven essay questions. Essay answers should be in paragraph form using complete sentences. (No bullet points) Use APA style for citations as needed. Exams may be subject to student submission using Turnitin at the professor’s discretion. Your answers should be submitted as a Word file attached to an email sent to me by the start of class on March 5th. While brevity is the soul of wit, essay answers should err on the side of completeness versus brevity. That said, I don’t want to see the answer to any question go beyond two single-spaced typewritten pages using a font size of 10-12 points.
- Congratulations! You have just been elected ruler of a small LDC. What steps will you take to manage the country’s balance of trade, and its currency? Name and use an actual country – don’t make one up.
- Compare and contrast the different methods of hedging transaction exposure. Include both derivative and non-derivative solutions.
- Compare and contrast a plain vanilla currency swap with a plain vanilla interest rate swap. Describe and justify a situation where a MNC would use each type of swap.
- Discuss the issues and potential solutions for a MNC contemplating foreign direct investment in a LDC.
10 Pages
Three categories of management skills
$7.50Mgt 230 DQ
Management: Leading and Collaborating in a Competitive World, 9e ISBN: 9780078137242 Author: Thomas S. Bateman
copyright © 2011 McGraw-Hill
Week 1 DQ# 1Please post your response to the following discussion question by clicking on Reply.
Managers need a variety of skills to be successful. There are three categories of management skills listed in your text. Choose one or more of the categories of management skills in your text and describe how each skill has contributed to the success of a great manager. Use specifics from your text to support your examplesWeek 1 DQ# 2
Please post your response to the following discussion question by clicking on Reply.
The external environment creates many challenges for businesses. Describe the main difference between the macroenvironment and the competitive environment and how both environments have impacted the company in which you work or a company of your choosing.Accounts receivable days outstanding have doubled in the first 6 months
$5.00DQ 1 Week 4
You notice that your accounts receivable days outstanding have doubled in the first 6 months. Do you give someone a bonus or put him or her on probation? Why?