In order for the economy to be strong, individuals must option D. Provide Labor And Buy Good.
What is an economy that is strong?This is known to be a robust economy and a healthy economy. A strong economy first and foremost tells about or show a rapid economic expansion.
This denotes an increase in economic output, which will result in greater average incomes, increased output, and increased spending as well as minimal and steady inflation.
Therefore, based on the above, In order for the economy to be strong, individuals must option D. Provide Labor And Buy Good.
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In order for the economy to be strong, individuals must a. produce goods and pay workers b. provide labor and pay workers c. produce goods and buy goods d. provide labor and buy goods.
what is the author's main purpose in this article
The main purpose of the article is to talk about the fact that the companies were pushing to have better ways of having to deal with the people that work in their companies.
What is the main purpose of an article?This is the term that is used to refer to the central message that a given article is trying to pass. It is what the article is making a statement about. This particular article can be said to be more concerned with the ways that businesses have tpo treat the people that work in their organizations.
It talks about the concept of ethical dealings and fairness and all of the ways that they can focus on carrying out other responsibilities that are just beyond making profits in the businesses that they do.'
Hence we can say that The main purpose of the article is to talk about the fact that the companies were pushing to have better ways of having to deal with the people that work in their companies.
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COMPLETE ANSWER
THE ANSWER TO THE QUESTION IS I'M GOING TO VOTE BRAINLIEST.
GIVE A PROVE YOUR ANSWER
Direction: Read the statements and choose the correct answer from the given choices and prove it.
A. Micro environment
B. Internal environment
C. Economic Aspects
D. Financial Resource
E. Human resources.
F. Macro environment
G. External environment
H. Politico-legal
I. Corporate image
J. Demographic
1. It directly affects the firm's activities.
2. It is all forces and events outside organization effect on its activities.
3. It refers to the size and geographic distribution of the population.
4. It does not immediately affect activities of the firm.
5. It affects the firm in both the revenue side and cost side.
6. A firm should develop, maintain and enhance a good business image.
7. This includes laws, ordinances, and regulations.
8. The social behavior of the employees greatly affects the working of the business.
9. It is a term covering all financial funds of the organization.
10. It is where all functions within a firm.
The statements presented here represent the nuances of business and management as a whole.
What is a business environment?The business environment is the sum of all external and internal factors that influence a company. Keep in mind that external and internal factors can both influence and affect a business. A health and safety regulation, for example, is an external factor that influences the internal environment of business operations. Furthermore, some external factors are beyond your control. These elements are commonly referred to as external constraints.
1. It has a direct impact on the firm's operations. - The Microenvironment
2. All external forces and events have an impact on the organization's activities. - Outside Environment
3. It refers to the population's size and geographic distribution. - Demographic information
4. It has no immediate impact on the firm's operations. - The macroenvironment
5. It has an impact on the firm's revenue and cost sides. - Economic Considerations
6. A company's business image should be developed, maintained, and improved. - Company Image
7. Laws, ordinances, and regulations are all examples of this. - Political and Legal
8. Employee social behavior has a significant impact on the operation of the business. - Human capital.
9. It is a term that refers to all of the organization's financial resources. - Financial Assets
10. It is the location of all functions within a company. - The Internal Environment
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the difference between the 5 types of communication
Answer : Verbal Communication. Verbal communication occurs when we engage in speaking with others.
Non-Verbal Communication. What we do while we speak often says more than the actual words.
Written Communication. what your doing to get answers
Listening
Visual Communication seeing
Explanation:
Which degree/major are you pursuing and why Associates degree accounting?
Answer:
Explanation:
m
1. Do you think that emotions are important in
today's workplace - why or why not
Answer:
for better or worse, emotions influence employees' commitment, creativity, decision making, work quality, and likelihood of sticking around—and you can see the effects on the bottom line. So it's important to monitor and manage people's feelings as deliberately as you do their mindset.
Explanation:
Possible Answer:
Yes; If we didn't have emotions in the modern workplace we wouldn't be able to socialize with partners and customers. For example, if you work as a waiter you wouldn't be able to show how you feel about certain food choices. Waiters rely on their social skills and without emotions, they will have trouble getting good tips. Another reason you need emotions is for low pay or situation you might get fired. Here, you can use your emotions to persuade your boss to help your situation. Lastly, you need emotions today in the work field for creativity. Creativity is used in many jobs such as choreography, photography, songwriter, artist, etc. Without emotion, you can't express what you are feeling in these careers.
Which situation is the best example of regulation in an economic system?
The situation that is the best example of regulation in an economic system is known to be called option "A state agency has been created to monitor the production and distribution of sports drinks."
What does regulation mean in an economy?In its broadest sense, regulation is seen as a kind of an imposition of rules by the government, supported by the use of sanctions, with the goal of specifically altering the economic behavior of people and businesses in the private sector.
There are a lot of various regulatory tools or objectives tools and as such, The situation that is the best example of regulation in an economic system is known to be called option "A state agency has been created to monitor the production and distribution of sports drinks."
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Which situation is the best example of regulation in an economic system? A retail business just opened a new store in a community close to its original location. A small clothing shop slashed it prices to attract customers from a larger department store nearby. A farmers’ market has offered a special deal to customers from a nearby yoga school. A state agency has been created to monitor the production and distribution of sports drinks.
Given the fragmented nature of the U.S. economy and the freedom given to private interests, which sector can be trusted more fully to advance policies that create economic growth
Capitalism has traditionally dominated society in the United States. It is described as an economic system in which private individuals or companies, as opposed to the government, own and manage the four main production factors: labor, capital commodities, and natural resources.
Personal choice, voluntary exchange, the ability to participate in markets, and the protection of people and their property are essential components of economic freedom. The protection of people and their property while allowing for voluntary exchange are characteristics of institutions and policies that are consistent with economic freedom. Capitalism is frequently viewed as an economic system in which private actors own.
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A decrease in building is shown in the cash flow statement as:
A decrease in the cash provided by financing activities section
An increase in the cash provided by investing activities section
An increase in the cash provided by financing activities section
A decrease in the cash provided by investing activities section
A decrease in building is shown in the cash flow statement as: A decrease in the cash provided by financing activities section.
What is the cash flow statement?This is the term that is used to refer to the statement that is given in financial management given that it would create the aggregate data that has to do with all of the cash inflows as well as the outflows that a particular company would have to receive.
The cash inflow statement is one that has to do with the payments that are made for the investments that a business would have to carry on over a given period pf time.
It is the money that the business would use in the financing of the investment activities. Hence we would say that it is the A decrease in the cash provided by financing activities section
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Consider the following two mutually exclusive projects:
Year Cash Flow (X) Cash Flow (Y)
0 –$ 23,000 –$ 23,000
1 10,490 12,000
2 10,900 9,360
3 10,500 10,400
What is the crossover rate for these two projects? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.)
The crossover rate for these two projects is 8.11% rounded to 2 decimal places.
What is the crossover rate?
The crossover rate is the discount rate at which the investor is indifferent between the two mutually exclusive projects, in other words, any of both would be appealing to the investor at the crossover which is determined by first of all computing the differential cash flows
What are the differential cash flows between the two projects?
The differential cash flows are the differences between the cash flows of the two projects, in other words, we can determine differential cash flow by deducting cash flows of the second project from that of the first project
Year 0=-$23,000--$23,000=$0
Year 1=$10,490-$12,000=-$1,510
Year 2=$10,900-$9,360=$1540
Year 3=$10,500-$10,400=$100
The discount rate that makes the company indifferent between the two projects is the internal rate of return of the differential cash flows using a financial calculator:
CF0=0
CF1=1510
CF2=1540
CF3=100
CPT(press compute)
IRR=8.11%
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How can you reduce your total loan cost?
Make interest payments while in school
Make interest and principal payments while in school
Make interest and principal payments during the grace period
Any of the above
The ways that you can reduce your total loan costs include paying interest while in school and during your grace period so the answer is Any of the above.
How can you reduce your total student loan cost?You can start off by making interest payments while you are still in school even though this isn't required. Also pay off principal payments if you can.
When you get out, try to pay interest and principal payments in your grace period. The reason for this is that you will reduce the interest that you have to pay per period which would be capitalized if not paid.
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The following are some changes that may take place in the market for textbooks. For each of the following, indicate what will happen to either the demand for or the supply of textbooks by listing which curve is affected and then the terms: "shift right or "shift left".
Explanation:
shift right - the demand will shift right due to everyone needed to replace textbooks because of change. textbooks will be in higher demand
shift left- the supply of textbooks will shift left due to everyone needing new books be ause of the changes. textbooks supply will decrease
What is ROL in the hotel industry and how is ROL calculated?
The ROI in the hotel industry help to calculate the economic value of the activities, and can be calculated by finding the return through hotel establishment.
What is ROl in the hotel industry?Return of interest can be described as the one that help with the economic value as a result of the various activities.
It should be noted that it help to give the measurement of the yield that is been gotten from an investment as well as ion making calculation about the return.
In conclusion , the Return of interest can be gotten by making the division of the profit that is been generated by the cost of that investment.
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NOTE; This is a complete question , no given option , even on the internet.
What does changing the reserve requirement do? Question 7 options: Allow banks to borrow money to increase their reserve Change the minimum amount you can deposit into your bank account Change the percentage of deposits a bank must keep in reserve Allow banks to change their interest rates
What changing the reserve requirement do is: Allow banks to borrow money to increase their reserve.
What is reserve requirement?Reserve requirement can be defined as the money that a financial institution or banks has as reserve so as to meet any unforeseen financial obligation.
Changing the reserve requirement can tend to enables banks to borrow or loan more money which inturn can help to increases the supply of money in the economy.
Therefore What changing the reserve requirement do is: Allow banks to borrow money to increase their reserve.
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Cori's Corporation, has a book value of equity of $13,080. Long-term debt is $7,400. Net working capital, other than cash, is $1,890. Fixed assets are $17,770 and current liabilities are $1,610.
How much cash does the company have?
Note: Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.
What is the value of the current assets?
If Cori's Corporation, has a book value of equity of $13,080. Long-term debt is $7,400. Fixed assets are $17,770 and current liabilities are $1,610. The cash that the company have is $820 and value of the current assets is $4,320.
Current assetsa. Cash
Cash = Net worth - Fixed assets - Net working capital + Long term debt
Cash = $13,080 - $17,770 - $1,890 + $7,400
Cash = $820
b. Current assets
Current assets = Cash + Current liabilities + Net working capital
Current assets = $820+ $1,610+ $1,890
Current assets = $4,320
Therefore If Cori's Corporation, has a book value of equity of $13,080. Long-term debt is $7,400. Fixed assets are $17,770 and current liabilities are $1,610. The cash that the company have is $820 and value of the current assets is $4,320.
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Thomas is taking an introduction level agriculture class, has been volunteering with the local vet for 3 summers, and takes care of his family's horses. Which CTSO should Thomas join this school year?
Group of answer choices
FBLA
FFA
FCCLA
HOSA
Based on the fact that Thomas is involved with a local vet and takes care of the family horses means that the CTSO he should join is FFA.
What is FFA?Future Farmers of America (FFA) is a Career and Technical Student Organization (CTSO) that specializes in helping its members become successful in agriculture, science and business.
Thomas takes care of the family's horses, volunteers with local vets, and takes and introduction level agriculture class which shows he is interested in farming. He should therefore go into the FFA.
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Which of the following is not a defensive behavior response
Spontaneity is not a defensive behavior response. The correct option is C.
What causes defensive behavior?According to studies, making the wrongdoer feel like an outcast makes defensiveness in response to wrongdoing worse. Defensive behaviors are frequent reactions when someone feels personally attacked, yet they can impair our capacity to see issues and develop solutions.
When we communicate in an open, truthful manner without attempting to influence how others will react, we are utilizing non-defensive communication when we ask questions, make assertions, and forecast outcomes.
We may be more thorough in our research, speak clearly, take better care of ourselves, and hold people more responsible.
Thus, the ideal selection is option C.
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Your Question seems incomplete most probably your full question was:
) Which one of the following choices is not defensive behavior?
Select one:
a. control
b. neutrality
c. spontaneity
d. superiority
Which option describes a bank savings account?
A. An account giving 0.05% interest with no other limitations
B. A deposit that has to be maintained in the bank for 1 year in exchange of a 2% interest.
C. A "basket" of money pooled in by many investors to acquire securities based on the value of cash.
D. An investment in stocks.
The option that best describes about the bank savings account is "A deposit that must be kept in the bank for one year in exchange for 2% interest." Thus, option (B) is correct.
What is the saving account?Saving account refers to the account of the person in the bank in which the individual deposits his money and in return earns the certain percentage of the interest.
Bank is the entity that accepts the deposits and lends the loan to the people. At the time of the deposit bank lends the interest and in the case of the loan bank charges the interest.
Therefore, it can be concluded that option (B) is correct.
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The person above me is actually correct!
The Lindex General Hospital has determined the activities of a nurse, including the following:
Required:
Classify each item as a high-value-added or a low-value-added activity.
Activities
a. Report for duty and review patient charts
b. Visit each patient and take her/his temperature
c. Update patients’ records
d. Coordinate lab and radiology works
e. Wait for the attending physician to arrive
f. Accompany attending physician
g. Explain treatments to patients
h. Call kitchen to have the wrong meal tray replaced
i. Perform CPR
References
Answer:
a. Report for duty and review patient charts - Low-value added
b. Visit each patient and take her/his temperature - High-value-added
c. Update patients’ records - High-value-added
d. Coordinate lab and radiology works - Low-value-added
e. Wait for the attending physician to arrive - Low-value-added
f. Accompany attending physician - High-value-added
g. Explain treatments to patients - High-value-added
h. Call kitchen to have the wrong meal tray replaced - Low-value-added
i. Perform CPR - High-value-added
Explanation:
True or false a common interpretation for a non-visit in person or entity quarry can have a fully meets rating
False, The statement, a common interpretation for a non-visit in person or entity quarry can have a fully meets rating is false.
The premise of common interpretation would entail (and possibly be limited to) that when courts of one contracting state are faced with interpretational issues, common interpretation should review decisions made by courts of the other contracting state and determine whether their interpretations can be transferred. The 2nd Amendment is a common interpretation to safeguard an individual's right to own a firearm without having to serve in a militia and to use that weapon for historically legal uses, such as home defence. The four types of common interpretation are textual, systematic, purposive, and historical. common interpretation is consistent with the four strategies for interpreting statutes that Friedrich Karl von Savigny listed.
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as a marketing assistant under marketing division,, draw a roadmap covering action plan, key performance areas and targets
Marketers shouldn't find the concept of a roadmap strange. They make use of product roadmaps to comprehend product strategy and the timing of significant releases.
Your high-level marketing strategy is communicated to key company stakeholders by way of a marketing strategy roadmap. It serves as a general roadmap for all of the many campaigns, events, and product launches. They place greater emphasis on the initiatives themselves than the same degree of detail as those more detailed plans.
The marketing team will find this roadmap to be helpful as a resource. The way it can inform the rest of the organization and foster support and alignment, however, is where its true worth lies. It demonstrates that you're not being careless with your marketing and that you've given it some thought.
The executive team is setting the goals and guiding principles for the marketing team. When thinking about any of the specific methods, those aren't always evident.
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4. List and explain the sources of monopoly market
Question: Hello: ) ✨List and explain the sources of monopoly market ?
Answer: here are three basic sources of monopoly: one created by government, like patents; a large economy of scale or a network externality; and control of an essential, or a sufficiently valuable, input to the production process. There are three major sources of monopoly power: (1) the price elasticity of demand (Ed), (2) the number of firms in a market, and (3) interaction among firms.
Have an amazing day/night<3
Please help me with these questions below
Practice write appropriate assertive responses for these situations:
1. Your boss begs you to work Friday night to complete a job. You are not scheduled to work and have already made plans. You say?
2. An employee at your work placement wants you to cover for her/him and tell the boss that she/he worked an afternoon shift if she didn’t work. You say?
3. One of your fellow employees at the placement is speaking to you and accusing another employee of lying. You do not agree. If you say nothing, you will feel that you are agreeing with the accuser and not being loyal to the victim. You say?
The correct responses for the given question statement are mentioned bellow the statement.
What is called a Job?A paid position of regular employment in the working field.
1. Your boss of the company begs you to work Friday night to complete a job. You are not scheduled to work and have already made your plans. I will say to my boss that I will complete the work after Friday, on the next working day, if I am not able to complete it I will complete it in extra time shift.
2. An employee at your work placement/company wants you to cover for her/him and tell the boss that she/he worked an afternoon shift, if she did not work. I will tell the employee that I will not cover for him/her but I will allow him/her extra time to complete the task.
3. One of your fellow employees at the placement/company is speaking to you and accusing another employee of the same company of lying. You do not agree. If you say nothing, you will feel that you are agreeing with the accuser and not being loyal to the victim. I will listen both the employees and than procced with my judgement.
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Suppose we are interested in bidding on a piece of land and we know one other bidder is interested. The seller announced that the highest bid in excess of will be accepted. Assume that the competitor's bid is a random variable that is uniformly distributed between and .
0.38 is the probability that your bid will be accepted.
What is probability?Probability can be defined as the chances that the outcome can occur in a particular event. It also tells the likelihood of the event that is happening or is going to happen.
From the given information in the question, let X be the bid accepted. Here, X Uniform (10200,15000).
The probability density function of X is,
f(x)=: 1/(15000-10200)
=4800
F(X = x) = P(X ≤ x )-a;
10200 < x <15000
Given the condition where the bid is $12,000
The probability that the bid will be accepted:
P(X ≤12000)
[tex]\dfrac{ 12000-10200 }{15000-10200}[/tex]
=1800/4800
= 0.38 (Rounded to two decimal places)
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The question is incomplete, the complete question will be:
Suppose we are interested in bidding on a piece of land and we know one other bidder is interested. The seller announced that the highest bid in excess of $10,200 will be accepted. Assume that the competitor's bid x is a random variable that is uniformly distributed between $10,200 and $15,000 .
Suppose you bid $12,000. What is the probability that your bid will be accepted (to 2 decimals)?
Give an example of a company that would add to the GNP of the United States.
A. Workers from Thailand provide tech support from a Thai company's office in Chicago.
B. An American company manufactures furniture in North Carolina that is sold in the united States and other countries.
C. A factory in Mexico manufactures televisions sold in the united States.
An American company manufactures furniture in North Carolina that is sold in the United States and other countries can be considered as an example of a company that would add to the GNP of the United States.
What is the significance of GNP?GNP, or simply Gross National Product, can be referred to or considered as the total value of the finished goods produced in a country or an economy during the given financial period. The contribution to the GNP happens irrespective of the location of the citizen who contributes.
Therefore, the significance regarding GNP has been aforementioned.
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What situational elements most directly impact Alshaya’s organization design?
How have both corporate- and business-level strategies influenced Alshaya’s organization design?
What specific advantages and disadvantages does the matrix structure pose for Alshaya? Do the advantages more than offset the disadvantages? In what ways?
As Alshaya continues to grow, how might its organization design need to be changed? Will the matrix design continue to be appropriate or will it need to be changed to something else altogether?
1) One of the company's well-known brands, or one of the Alshaya brands, is H&M. The corporation operates under a franchising system and owns numerous brands. The core benefits of the brand are those that are associated with the company's core, actual, and augmented products. Since the core benefits (which have to do with finding or creating the best product) are regarded as the brand's primary goal or benefit, H&M receives high fashion at the most affordable price.
2) Convenience items, speciality items, shopping items, and unsought items make up Alshaya's four product classifications. H&M, which is categorized under shopping products, is one of the most popular brands in Alshaya brands. Because of its high unit value, high quality, and high degree of durability, products tend to be purchased less frequently.
3) The product segmentation is essential and significant to the brand and to Alshaya brands business. These segments are (a) demographic and (b) behavioral. Due to the nature of comprehending categories like business-to-business and business-to-consumer connections, using segments like age, gender, income level, geography, education, ethnicity, purchasing habits, user status, spending habits, and brand interactions in the market
The unmatched proficiency in regional operations and superior market knowledge are the sources of equity for each specific Alshaya brand. Alshaya's constant goal is to put the needs of its clients first and keep them at the heart of everything it does. The company makes investments in its operational intelligence, talent, talent development, and collaborations.
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Briefly discuss Sherif’s (1966) classic study of boys at summer camp in terms of findings and implications for understanding competition.
Sherif’s (1966) classic Robbers Cave study of boys at summer camp finds the relationship between the two groups of boys immediately deteriorated when the event began.
In the 1940s and 1950s, social psychologist Muzafer Sherif and his associates conducted a number of investigations, including the Robbers Cave experiment. Sherif investigated the interactions between male groups at summer camps and a competitor group with the hypothesis that "when two groups have competing purposes... their members would become antagonistic to one other even when the groups are constituted of normal well-adjusted individuals at a summer camp " The Robbers Cave study found the incident swiftly escalated once the parties started throwing jabs. The Sherif discovered that the summer camps' surveys, in which they were asked to score their own team and the opposing team on good and bad attributes, contained questions about group animosity.
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What's the answer for that one.
1) Net income = Sales - cost of goods sold = [tex]600[/tex] - [tex]480[/tex] = [tex]120[/tex]
2) Return on assets = Net income /Total assets = [tex]120[/tex]/[tex]532[/tex] = [tex]0.2255[/tex]
3) A corporation has made poor investments and is spending more money if the return on assets is decreasing 10%. However, 10% is acceptable, but if it rises then there will be problems.
4) Any business's foundation is its logistics management.
ways to make logistic management better
I Invest in modern technology;
ii) Thoroughly train your personnel;
iii) Encourage interdependent communication; and
iv) Outsource to 3PL
V) Select and Track KPIs
Planning, managing, and implementing processes to move and store items are all parts of logistics management, which is the governance of supply chain management functions. Transportation management, fleet management, warehousing, material handling, order fulfillment, logistics network design, inventory control, supply/demand planning, and administration of third-party logistics service providers are a few examples of logistics management tasks. Planning, managing, and implementing processes to move and store items are all parts of logistics management, which is the governance of supply chain management functions. Transportation management, fleet management, warehousing, material handling, order fulfillment, logistics network design, inventory control, supply/demand planning, and administration of third-party logistics service providers are a few examples of logistics management tasks.
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COMPLETE ANSWER
THE ANSWER TO THE QUESTION IS I'M GOING TO VOTE BRAINLIEST.
GIVE A PROVE YOUR ANSWER
Direction: Read the statements and choose the correct answer from the given choices and prove it.
A. Micro environment
B. Internal environment
C. Economic Aspects
D. Financial Resource
E. Human resources.
F. Macro environment
G. External environment
H. Politico-legal
I. Corporate image
J. Demographic
1. It directly affects the firm's activities.
2. It is all forces and events outside organization effect on its activities.
3. It refers to the size and geographic distribution of the population.
4. It does not immediately affect activities of the firm.
5. It affects the firm in both the revenue side and cost side.
6. A firm should develop, maintain and enhance a good business image.
7. This includes laws, ordinances, and regulations.
8. The social behavior of the employees greatly affects the working of the business.
9. It is a term covering all financial funds of the organization.
10. It is where all functions within a firm.
The correct options to each other are mentioned below with their explanation.
What is called a Firm?A Firm is consists group of people who work together, like an association, a charity, a union, or a corporation.
A. Micro environment - 4. It does not immediately affect activities of the firm.
B. Internal environment- 1. It directly affects the firm's activities. Because internal Forces refers to set of elements which affects organization's or firm's behavior. Today's organizational behavior is influenced by a complicated mix of major influences. People, Structure, Technology, and Environment are the four categories of important factors. People, structure, and technology interact, and these factors are impacted by the environment.
C. Economic Aspects- 6. A firm should develop, maintain and enhance a good business image. If not than it will affect the economy of the firm.
D. Financial Resource- 5. It affects the firm in both the revenue side and cost side. Because financial resources are the backbone of an organization.
E. Human resources- 9. It is a term covering all financial funds of the organization. Because Human resource manages all the firm's activity.
F. Macro environment- 8. The social behavior of the employees greatly affects the working of the business.
G. External environment - 2. It is all forces and events outside organization effect on its activities. Because external Forces is unpredictable and uncontrollable. It is possible to predict economic trends using forecasted data.
H. Politico-legal - 7. This includes laws, ordinances, and regulations. As it is related to law.
I. Corporate image- 9. It is a term covering all financial funds of the organization. It is related to market.
J. Demographic - 3. It refers to the size and geographic distribution of the population. Because demography is an important tool know about the population.
Hence, above mentioned are the correct options of each other.
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What are the advantages and disadvantages of a career in the hospitality and tourism industry? Compare and contrast what you believe to be the most prominent advantages and disadvantages and evaluate whether the advantages outweigh the disadvantages or vice versa.
Answer: Working in the hospitality sector can be a personally rewarding career. When deciding whether to start a career in hospitality, knowing the main advantages and drawbacks can help you make an informed decision. Being familiar with the pros and cons of working in hospitality is therefore essential for maximizing your chances of making a good choice.
Explanation:
Answer: Pros and cons of working in hospitality
Some of the main advantages of working in the hospitality sector are:
It can help you improve your communication skills. Most hospitality roles, including those that don't require constant interaction with guests, require extensive communication with various parties. This can help you communicate better, which is a soft skill that 's useful in most roles and your personal life.
It can make traveling easier and more affordable. Some hospitality roles require extensive traveling, which can be a major advantage for someone who's passionate about seeing other places. Also, working for a hospitality venue can help you get preferential prices for accommodation.
It can enable you to advance quicker in your career. The hospitality industry grows and changes faster than other industries, meaning that jobs are constantly available. If you can relocate to an area where a new hospitality facility opened, you may get the chance to interview for a higher position than your current one, including managerial roles.
It can open up many networking opportunities. Networking is one of the most effective ways of generating new career opportunities. By working in hospitality, you usually interact directly with many fellow employees, and some hospitality roles also require attending industry-specific conferences.
It can help you become more proactive. When your main job requirement is to make sure that your guests are satisfied and comfortable, you often have to anticipate some of your guests' needs and desires. Learning to anticipate and take action can help you develop a proactive way of dealing with issues, instead of mitigating them once they occur.
It can provide a very diverse experience. Most hospitality roles involve dealing with different issues every day. This can be a major advantage if you don't enjoy performing repetitive tasks.
It can give you the opportunity to earn tips and bonuses. Working in a customer-facing role in the hospitality industry can lead to additional income from tips and other bonuses. Taking care of your customers' needs can persuade them to offer you tips, while working within the facility's customer service standards may entitle you to bonuses.
Some of the main drawbacks of working in the hospitality industry are:
It can involve long working hours. Although many hospitality roles are flexible, the fact that most facilities need to be available for their guests on a permanent basis means that you may be working longer hours than in other industries. Although you may be working longer hours, you're also likely to have more time off after finishing your shift, so it can also be an advantage.
It usually comprises a high-pressure environment. Constantly making sure that every guest is receiving the best possible care and swiftly resolving any issue can lead to high amounts of stress, especially if you work in a highly rated hospitality venue. It can be useful for your career, though, as the ability to perform under pressure is a common desirable trait for most professions.
It may involve extensive physical work. Most entry-level hospitality roles tend to require constant physical activity, like climbing stairs, carrying luggage, walking for long distances and other related activities. Although this can make the job more challenging, it can also enhance your physical condition. Have a great day :)
Identify successful business and struggling businesses in the community. Compare and
contrast.
Successful business and Struggling business are present in the types of market.
Successful business refers to the one which have already overcome the consequences of the development phase. They implement policies and procedures according to the market community.
But on the other hand the struggling business are still in their development phase that are still looking to analyse the market conditions.
Struggling business are defined as the one who are still on the development phase and they keep implementing their policies undertaking the consideration of market but does not take risks.
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