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Managers need certain skills to be effective. As you have read, these skills fall into three main categories: technical skills, interpersonal skills, and conceptual skills. For this DB, tell which one of the three categories you think is the most important and why? Give detailed examples to support your response.
Answer:
Conceptual Skills
Explanation:
Conceptual skills are skills that enable individuals to identify, conceptualize, and solve intricate problems. These skills are important in the workplace because they allow professionals to think and work through abstract ideas and come up with multiple solutions to complex issues. Conceptual skills also allow people to understand how various parts of a company work together to reach common goals. They are especially useful in leadership positions but can be beneficial in nearly any job.
The ability to conceptualize complicated ideas and problems is highly valuable from a managerial perspective. Many professionals who work in managerial positions regularly have to deal with a myriad of perplexing scenarios, and having conceptual skills ensures these individuals can successfully handle these problems in a creative and effective way.
Land and mineral resources, transportation and communication facilities, factories and farm buildings, equipment, and tools and machinery are all examples of: Multiple choice question. unlimited economic resources. economic growth. scarce economic resources. insatiable wants.
Resources such as land and mineral resources, as well as factories and equipment, are all considered scarce economic resources.
What are scarce economic resources?
These refer to most resources that are available to us for producing goods and services.
They are referred to as scarce because there aren't enough of them to engage in all the production needed. Examples range from land to equipment and tools.
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Perry, Inc. desires to maintain the ending inventory of raw materials at 40 percent of the next quarter's raw material needs. What is the cost of raw materials to be purchased in the first quarter
The cost of raw materials in the first quarter is expected to be $320,000.
How do you figure out how much inventory you have?According to the report, Perry, Inc. wants to keep its raw material ending inventory at 40% of the next quarter's raw material requirements.
The following calculation will be used to calculate the cost of raw materials to be acquired in the first quarter:
= 64000 × 5
= $320000
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A dollar today is worth ______ a dollar in the future because it can be reinvested. Multiple choice question. the same as more than less than
Answer:
A dollar tomorrow is worth less than a dollar today, because if you invest the dollar you have today, you'll have more than a dollar tomorrow.
A dollar in the present day is worth less than that of the dollar in the future, because of returns generated over reinvestment.
What is reinvestment?A process of investing something, which is invested more than once after generating returns over it, is known as a reinvestment. A currency is the most widely reinvested class of asset, and generally its value appreciates.
Hence, the significance of reinvestment is given above.
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Demand per hour for gasoline at a local station is normally distributed with a mean of 875 gallons and std deviation of 55 gallons. What is the probability that demand is greater than 1800 gallons over a 2-hour period
The probability that demand is greater than 1800 gallons over a 2 hour period is : 0.5
Given data :
Mean value of gasoline per hour = 875 gallons
Standard deviation = 55 gallons
Determine the probability of demand being greater than 1800 gallons over 2 hoursDemand for gas in 1 hour = X₁
Demand for gas in 2 hours = X₁ + X₂
Therefore ; ( X₁ + X₂) ~ N ( u₁+u₂, sd₁² + sd₂² )
In order to calculate probabilities for normals apply the equation below
Z = ( X- u ) / sd
where : u = 1800, sd = √ ( 55² + 55² ) = 77.78
using the z-table
P( Y > 1800) = P( Z > ( 1800 - 1800 ) / 77.78)
= P( Z>0 ) = 0.5
Hence we can conclude that The probability that demand is greater than 1800 gallons over a 2 hour period is : 0.5.
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If an increase in the price of good e leads to a large decrease in the demand for good f, what is the relationship between the two goods?.
The relationship between the two goods is: The goods are complementary.
What are complementary goods?Complementary goods can be defined as those goods which consumer buy together and as well use together.
The goods are tend to be complementary based on the fact that the cross-price elasticity of demand of those goods are tend to be negative and large.
Therefore the relationship between the two goods is: The goods are complementary.
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Scenario 10-1 The demand curve for gasoline slopes downward and the supply curve for gasoline slopes upward. The production of the 1,000th gallon of gasoline entails the following: a private cost of $3.10 a social cost of $3.55 a value to consumers of $3.70 Refer to Scenario 10-1. From the given information, it is apparent that
It is apparent that the production of gasoline involves a negative externality which means that the market will produce a larger quantity of gasoline than is socially desirable.
What is a negative externality?In economics, this refers to a condition that exists when the production or consumption of a product results in a cost to a third party.
Hence, based on the information given on the gasoline price and values, it is deduced that the production of gasoline involves a negative externality which means that the market will produce a larger quantity of gasoline than is socially desirable.
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In the basic eoq model, if the cost of placing an order doubles, and all other values remain constant, the eoq will
If the cost of placing an order is double and other values remain constant, then EOQ will increase by 41%.
What do you understand by EOQ?The optimum order quantity for a business to purchase to reduce inventory costs such as storage charges, shortage costs, and order fees is the economic order quantity (EOQ).
The basic EOQ model takes into account carrying and ordering costs. The EOQ model implies constant demand and inventory depreciation at a constant rate exceeding zero.
Therefore, EOQ will increase by 41% when placing cost of order will be doubled and other values remain constant.
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Is a stackelberg solution a Nash (stable) equilibrium? Explain. 2. Does the solution change if stackelberg game is considered in the long run? Explain. 3. Would a stackelberg leader collude with the stackelberg follower? Explain. 4. Would a Stackelberg leader be more likely or less likely to merge with the follower firm. Explain.
The Stackelberg solution can be used to find the perfect or stable Nash equilibrium or equilibria.
What is this equilibrium about?Other answers:
Based on the above, Note that the strategy profile is one where one serves best each player, and based on the strategies of the other player and it covers the fact that all player playing in a Nash equilibrium must be in every subgame.
Note also that The Stackelberg leadership model is said to be a kind off strategic game that is played in economics where the leader firm is known to moves first and then the follower firms is said to then move in a sequential manner and I think, the solution do not change if stackelberg game is considered in the long run.
I believe that the stackelberg leader will not collude with the stackelberg follower but in a lot of cases, there may be a collusion.
Yes, a Stackelberg leader can be more likely or less likely to merge with the follower firm as a merger can be profitable to them.
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When Keira bought a Super Suds car wash franchise, she became a Multiple Choice franchisor. franchisee. limited stockholder. venture capitalist.
When Keira bought a Super Suds car wash franchise, she became a. Franchisee.
Who is a Franchisee?Franchisee can be regarded as an individual or company that is responsible for having a
a franchise during the process of selling.
Therefore, since,Keira bought a Super Suds car wash franchise, she automatically became a Franchisee for the the sale of goods
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Which is an easy-to-read, monthly statement that clearly lists medicare claims information?.
An easy-to-read, monthly statement, that clearly lists medicare claims information is a Medicare summary notice.
What is a Medicare summary notice?
MSN is a statement received by the people with Original Medicare recipients every three months in the mail for services covered by Medicare Part A and Part B.
It is a system that notifies consumers about Medicare benefit decisions. You will not receive an MSN for that 3-month period if you do not receive any services or emergency aid during that time.
This notification might assist you in keeping track of your and in expenses and ensuring that you were correctly invoiced for the treatments you experienced.
It also helps to compare the information on your notification with the healthcare providers', statements, and receipts.
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_____ is the supply chain function responsible for acquiring raw materials, component parts, tools, services, and other items required from external suppliers.
Procurement is the supply chain function responsible for acquiring raw materials, component parts, tools, services, and other items required from external suppliers.
What is procurement?Procurement is a branch of supply chain that deals with buying of materials or goods for production purposes.
Procurement give account of all the logistics involved and the materials bought.
Therefore, Procurement is the supply chain function responsible for acquiring raw materials, component parts, tools, services, and other items required from external suppliers.
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For entrepreneurs, the closer the solution relates to the actual problem the customer is experiencing, the more likely that there will be immediate _____ upon completion of product development.
For entrepreneurs, the closer the solution relates to the actual problem the customer is experiencing, the more likely that there will be immediate sales upon completion of product development.
Reason for early salesWhen a particular products meet the demand of people, there is possiblity of sales immediately after the product is release.
Hence, product should be targeted towards demand.
Therefore, For entrepreneurs, the closer the solution relates to the actual problem the customer is experiencing, the more likely that there will be immediate sales upon completion of product development.
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In the top-down strategic planning approach, all strategic intelligence and decision-making responsibilities rest primarily on the
Answer:
Chief Executive Officer (CEO)
Explanation:
As an agent, you owe fiduciary duties to your client. among these are loyalty, reasonable skill and care, confidentiality, accounting, and disclosure. what fiduciary duty is missing from this list
The fiduciary duty Obedience is missing from the list.
What are the fiduciary duties?Fiduciary duties are those duties, which work in the interest of another party or an entity.
The main duties included in the fiduciary list are Accounting, Care, Confidentially, Disclosure, Loyalty and Obedience.
Fiduciary duties ensures the benefit of another party.
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What does it mean to investors when a bond reaches full maturity?
a) the investor has waited for the 50 year mandatory holding period.
b) the investor owes the payment in full to the financial institution.
c) the investor can sell it on the open market and earn the value on that day.
d) the investor is owed the principle and the interest earned on the
investment.
which statement best describes how the Fed responds to recessions?
It sells more securities.
It charges banks more interest.
It increases reserve requirements.
It increases the money supply.
The federal government responds to recession by increasing the money supply in a country.
What is Recession?Recession is term used to describe a general economic contraction which is identified by a fall in the gross domestic product of a country.
Before a country is said to be in recession, the GDP of that country must have fallen in two successive quarters.
The feds respond to recession by increasing the money supply in order to stimulate the local economy.
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Answer: D - It increases the money supply.
Explanation: Edge 2022
6. The effects of inflation Suppose Friendly Airlines is considering signing a long-term contract with the union representing its pilots. Friendly Airlines and the union both agree that real wages should increase by 3%. Inflation is expected to be 6%, so they agree on a 9% nominal wage increase. Now, suppose inflation turns out to be lower than expected, coming in at 5%. This would the union and Friendly Airlines because the real wage increase would now be .
If inflation is lower than expected, it would benefit the union and it would be a disadvantage to Friendly Airlines because the real wage increase would now be 4%.
What is inflation?Inflation is when there is a general increase in the general price level of an economy. If inflation turns out to be lower than expected, the employers would be at a disadvantage while the employees would be at advantage because there would be an increase in their real wages.
Increase in real wage = real increase in wage + (expected inflation + actual inflation)
3% + (6% - 5%) = 4%
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Given: Cost of goods manufactured of $410,000; beginning finished goods inventory of $110,000 and ending finished goods inventory of $125,000, calculate unadjusted cost of goods sold. Multiple choice question. $395,000 $535,000 $520,000 $425,000
The unadjusted cost of goods sold is $395,000
What is cost of goods sold?Cost of Goods Sold (COGS) is what measure the direct cost incurred in the production of any goods or services.
The unadjusted cost of goods is computed as:
= Cost of goods manufactured - ( Ending finished goods -Beginning finished goods inventory )
= $410,000 - ( $125,000 - $110,000)
= $410,000 - $15,000
= $395,000
Hence, the unadjusted cost of goods sold is $395,000
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The top five cities where venture capitalists are investing their money represent 10% of the global total.
True
False
it is false statement that the top five cities where venture capitalists are investing their money represent 10% of the global total.
What is a Venture capital?
This refers to the managerial expertise provided by investors to startup firms with long-term growth potential.
However, it is false that the top five cities where venture capitalists are investing their money represent 10% of the global total.
Therefore, the statement is a false statement.
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Which distribution channel for consumer goods is most likely to limit a producers growth
The distribution channel that will likely limit a producer's growth is producer directly to consumers.
Why would distributing directly to consumers limit growth?There is a saying in distribution that the more hands touch a product, the higher the potential for the growth of the supplier.
This is because there is a chance of distributing to more entities. If a supplier supplies directly to consumers therefore, their chances of growth are less because they won't supply to other retailers and middlemen.
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Answer:
1. Wholesaler to business buyers
2. The people providing services
3. Operating 50 or more warehouses will be expensive
4. Unsure
5. Superior
6. Retailer
7. Bar codes
8. Wholesaler
9. Place
10. Directly to consumer
In the fourth stage of the B2B buying process, Blank______ , vendor negotiation, and selection all occur.
In the fourth stage of the B2B buying process, proposal analysis, vendor negotiation, and selection all occur.
What is B2B?It should be noted that B2B simply means the process that is used to recognize a particular need and but such product.
Here, in the fourth stage of the B2B buying process, proposal analysis, vendor negotiation, and selection all occur.
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Internal rate of return (IRR) must be compared to the Blank______ rate in order to determine the acceptability of a project.
The internal rate of return (IRR) must be compared to the required return rate in order to determine the acceptability of a project.
What is the meaning of the Internal Rate of return?The internal rate of return (IRR) is a metric utilized in economic evaluation to estimate the profitability of ability investments.
IRR is a reduction price that makes the net present value (NPV) of all cash flows identical to 0 in a reduced cash flow evaluation. IRR calculations depend on the equal components as NPV does.
Thus, The internal rate of return (IRR) must be compared to the required return rate in order to determine the acceptability of a project.
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The process of assigning a good, a service, or a resource to one use instead of another describes:.
Allocation is the process which involves the assigning of goods, services or any such resources for one use, instead of deploying them at other alternatives available.
What is allocation?The way in which the available resources in the hands of a business organization are deployed for particular uses is known as allocation of such resources by a firm.
Hence, the significance of allocation is given above.
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Drag each tile to the correct location on the table.
Classify the sentences based on whether they describe an investing mistake or a good investment decision.
1) Sanjay invests in companies in
a variety of industries.
2) Ryan invests only in the stock of
companies he has complete faith in.
3) Silvia successfully avoids investing
in unfamiliar foreign companies.
4) Sabina invests small amounts in
stocks, bonds, and real estate.
5) Ricardo starts investing in index
funds with the aim of building
his wealth steadily over time.
6) Martha decides to hold her
investments despite their poor
market performance over
three years.
-investing mistakes
- Good investment decision
The correct options for the matchup are:
For Investing mistake :
Silvia Ryan MarthaFor Good investment decision:
Sanjay Ricardo Sabina What is known as an investment?An investment is known to be a kind of an asset or item that is gotten by a person with the aim of getting income or appreciation.
Note that Appreciation is said to be an increase in the value of an asset in course of time and from the above, you can see those who made good decision and those who made bad decision.
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Answer:
Investing mistake :
Silvia
Ryan
Martha
investment decision:
Sanjay
Ricardo
Sabina
Explanation:
What is one thing shared lane markings are not used for?.
The one thing that the shared lane markings are not used for is Decreasing the possibility of Highway Hypnosis.
What are the shared lane markings?Shared lane markings are the road markings that indicate a shared lane environment.
The shared lanes may be for bicycles and automobiles.
The shared lane markings, also known as Sharrows, can also:
Guide bicyclists away from the hazardous "door zone" beside parked cars.Function as positioning cues.Thus, the one thing that the shared lane markings are not used for is Decreasing the possibility of Highway Hypnosis.
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If the price of natural gas rises, when is the price elasticity of demand likely to be the highest?.
If the price of natural gas rises, the price elasticity of demand is likely to be the highest d. one year after the price increase.
What is the price elasticity of demand?The price elasticity of demand refers to the percentage change in the quantity demanded of a good or service divided by the percentage change in the price.
The factors that determine the price elasticity of demand include:
Availability of substitutesWhether good is a luxury or a necessityThe proportion of income spent on the goodsTime elapsed since the price increase.Answer Options:a. one month after the price increase
b. immediately after the price increase
c. three months after the price increase
d. one year after the price increase.
Thus, if the price of natural gas rises, the price elasticity of demand is likely to be the highest d. one year after the price increase.
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Financial accountants:_________
a) provide information to external entities that allows them to evaluate business performance.
b) summarize the company's production activities in a way that allows managers to make decisions.
c) have a primary focus on providing managers within the organization with reports to make good business decisions.
d) work with government lobbyists to push for more favorable accounting regulations.
Financial accountants—summarize the company's production activities in a way that allows managers to make decisions.
What are financial accounts?Financial accounts are the accounts that show the profit and loss, expenses and savings, assets and liability, debts and outstanding amount.
Financial accounts help the company to take the future decision that is based on the previous occurrence in the organization. Some of the financial accounts are cash flow statement profit and loss, balance sheet and others.
Thus, option B is correct.
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What do hr teams today increasingly see themselves as?
In today's competitive and globalized business environment, HR teams are responsible for developing human capital in organizations.
What is the role of the Human Resources department?It is a team responsible for managing the employees in an organization, such as recruiting, selecting and aligning potential candidates to positively contribute to the organization's goals.
Therefore, currently, human capital is the differential for the company to be well positioned in the market, and HR is responsible for managing the talents that will generate the necessary innovation for the business.
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Two years ago, rhonda received a gift of 100 shares of common stock from her parents. the fair market value of the stock on the date of the gift was $80 per share. her parents had purchased the stock four years earlier at $60 per share. rhonda sold this stock for $102 per share last week. what was rhonda's per-share basis in the stock when it was sold
Rhonda's per-share basis in the stock when it was sold was $80 per share.
What is the tax basis of an asset?Rhonda's per-share basis in the stock sold refers to her cost tax basis. The tax basis of an asset is the amount of capital investment when computing for tax purposes.
The purchase or cost tax basis may be higher or less than the sale tax basis.
When the purchase tax basis is higher than the sale tax basis, it gives rise to a capital loss and vice versa.
Thus, Rhonda's per-share basis in the stock when it was sold was not $60 or $102 but $80 per share.
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