Since the entrepreneur creates economic value by changing their personal tacit knowledge, this is an example of Changing (converting) of tacit knowledge into that of explicit knowledge.
How can tacit knowledge be transferred?Because it is internal and ingrained in people, tacit knowledge must be transferred through human interactions. Thus, individuals might share tacit information in the form of experience or skills during the socialization process.
On the other side, externalization is the process of making implicit knowledge explicit. Externalization, or turning internal and implicit knowledge external and explicit, is the process through which tacit knowledge is transformed into explicit knowledge.
Only when it is able to officially codify and communicate such knowledge, in forms associated with Explicit Knowledge, can tacit knowledge be made explicit. They put their knowledge into an encoded form.
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a european works council is a transnational, company-level committee of employees that gives workers the opportunity to learn about their company's financial health and future plans and to have a voice in providing feedback and ideas about these plans.
It is true that a European Works Council is a transnational, company-level committee of employees that gives workers the opportunity to learn about their company to have a voice in providing feedback.
European Works Councils are organizations that represent a company's European employees. Workers are informed and consulted by management about the progress of the business as well as any significant decisions made at the European level that may affect their employment or working conditions. European Works Councils (EWC) are information and consultation bodies that represent employees in multinational corporations in Europe.
Here is the complete question-
State if this statement is true or false.
A European Works Council is a transnational, company-level committee of employees that gives workers the opportunity to learn about their company's financial health and future plans and to have a voice in providing feedback and ideas about these plans.
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obtaining cash in a hurry sam is parked outside his bank and needs cash today. his standard checking account balance is sufficient to provide the cash, and he plans to deposit the paycheck he’ll receive in a few days to his checking account. sam also has a credit card whose terms allow him to obtain a cash advance. what would be the wisest way for sam to get the cash he needs today? withdraw the cash from his checking account take a cash advance on his credit card whichever way is quicker
The wisest way for Sam to get the cash he needs today is to withdraw the cash from his checking account.
What is checking account?In a financial institution, a checking account is a deposit account that permits both deposits and withdrawals. Checking accounts, also known as demand accounts or transactional accounts, are relatively liquid and can be accessed via cheques, automated teller machines (ATMs), and electronic debits, among other methods. A checking account varies from other bank accounts in that it frequently permits unlimited deposits and a restricted number of withdrawals, in contrast to savings accounts that occasionally restrict both.
Anyone who frequently wants to make withdrawals or other bank account operations should have a checking account. Generally speaking, opening a checking account is very simple. You can apply online or in person at a bank branch and receive a checking account within an hour.
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the following information is available for two different types of businesses for the 2020 accounting period. keith h cpas is a service business that provides accounting services to small businesses.
Annual accounting reports are important marketing tools for investors because they include illustrations, a letter from the chair or CEO, and a financial overview.
What exactly is a small business?Corporations, partnerships, or sole proprietorships with fewer employees and/or lower annual revenue than larger businesses or corporations are considered small businesses.
Grocery stores, medical stores, tradespeople, bakeries, and small manufacturing units are examples of small businesses. Small businesses are sole proprietorships that require less capital, fewer employees, and little or no machinery.
Small businesses are significant because they provide opportunities for entrepreneurs as well as meaningful jobs with higher job satisfaction than positions in larger, more traditional corporations. They help local economies by keeping money in the community and assisting neighborhoods and communities.
Hence, companies issue annual accounting reports to investors as key marketing tools, which include illustrations, a letter from the chair or CEO, and a financial overview.
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Corrie bought a new flat screen 70 inch television and a speaker system from a local electronics store on credit. The store will charge 12% per year compounded monthly. Their monthly payments are $174. 80 for 3 years. What is the cash price of her purchase?.
generic strategies group of answer choices are all based on finding ways to provide superior value to the customer. none of the above occur when a company can outmatch its rivals in attracting and maintaining its customers. represent basic ways that domestic and multinational companies keep and achieve competitive advantage.
Represent the fundamental methods by which domestic and international businesses maintain and develop competitive advantage.
Which five general competing strategies are there?
Here are five different sorts of competitive strategies, each with an illustration:
cost management.
differentiating a product.
Management of customer relationships (CRM)
concentrate on costs
dedication to the customer strategy.
Of the following, which one is not a general strategy?A dominator strategy for market share. Market share dominance is not one of Porter's general competition strategies. The best-cost provider, low-cost provider, differentiation, and concentrated low-cost are the four main general categories of competitive strategy.
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Why does the United States have an advantage over other countries in producing many different products for export?
Consumption greater than production
O Abundance of natural resources
O Lowest unemployment rate
O Mandatory education
Due to its wealth in natural resources, the United States has an advantage over other nations in creating a wide range of items for export.
Natural resources include any biological, mineral, or aesthetic asset provided by nature unaided and capable of being used for some sort of advantage, whether tangible (economic) or intangible. It has changed over time and from one community to another what is seen as a export "resource" (or, for that matter, "natural"). In addition to energy resources (like petroleum, natural gas, and heated water [that is, geothermal energy] contained within layers of rock), forests, surface water, groundwater, fertile lands, or the soil and minerals within them (rather than the crops that grow on them), are natural resources examples of assets that can be considered natural resources.
Natural resource management is a practice that takes into account how civilizations control the availability of or access to the natural resources that are essential to their existence and economic growth. According to natural resources certain definitions, management is only necessary for natural resources that can regenerate on their own and whose use export depends on this ability. For instance, oil is not typically seen as a topic of natural resource management.
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If a company’s inventory was destroyed by fire, but the accounting records were saved, the method that would probably be used to estimate the amount of inventory lost would be ________.
The method that would probably be used to estimate the amount of inventory lost if a company’s inventory was destroyed by fire but the accounting records were saved is gross profit method.
The gross profit method can be described as the estimate value of inventory by applying the company's historical gross profit percentage to current‐period information about the cost of goods available for sale and net sales. Gross profit equals net sales minus the cost of goods sold., so the formula of gross profit method is:
Gross Profit = Revenue – Cost of Goods Sold
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in a recent year a baseball team paid times as much to their ace pitcher as they paid to their shortstop. if they paid $ million for the two salaries, what did they pay each player?
Using an assumed value, the baseball team in a recent year paid their shorstop $30 million and paid their ace pitcher $60 million, making a total of $90 million for the two salaries.
From our assumed data,
Let a + b = 90 million which is the total paid for the two salaries
Where:
a represent the shortstop
b represent the pitcher
so pitcher (b) gets paid 2 times of what the the shortstop (a) gets paid that means, b = 2a
So a + 2a= 90 million
3a = 90
a = 30
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car insurance shelters drivers from the possibility of losing all their wealth in the event that they cause an accident in which someone is seriously injured. this best illustrates which core principle?
car insurance shelters drivers from the possibility of losing all their wealth in the event that they cause an accident in which someone is seriously injured this best illustrates the core principle Risk requires compensation.
Typically, compensation refers to the economic price given to a person in trade for their offerings. In the place of the job, reimbursement is what's earned through employees. It consists of profits or wages similarly to fees and any incentives or perks that include the given worker's role. Repayment Definition. Compensation is the overall coins and non-coins bills which you give to a worker in alternative to the work they do for your business. It's commonly considered one of the largest expenses for organizations with employees. Compensation is greater than an employee's normal paid wages.
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ceo erva and her leadership team have started to see some positive changes in the organizational culture. erva realizes that it’s time to enact a lever that is particularly strong and has great potential to embed the cultural changes made so far. which mechanism would you recommend to erva?
A mechanism which I would recommend to Erva in order to see some positive changes in the organizational culture is: C) reward and incentivize employees.
What is a business strategy?A business strategy can be defined as a set of guiding principles, actions, policies, and decisions that a business organization strategically combines, so as to successfully achieve its goals, objectives, attract potential customers, improve organizational culture, and possess a competitive advantage over its rivals in the industry.
The types of business strategy.Generally, there are four (4) main types of business strategy and these include the following:
Operating strategy.Organizational (Corporate) strategy.Functional strategy.Business (Competitive) strategy.In Business management, it is very important for excellent business thinkers to identify and articulate key business strategies and ideas that have the potential of positively affecting a business such as positive changes in the organizational culture.
In conclusion, we can reasonably infer and logically deduce that rewarding and incentivizing employees would significantly (greatly) enhance positive changes in an organizational culture.
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Complete Question:
CEO Erva and her leadership team have started to see some positive changes in the organizational culture. Erva realizes that it's time to enact a lever that is particularly strong and has great potential to embed the cultural changes made so far. Which mechanism would you recommend to Erva?
A) tell the organization's story
B) provide structured training
C) reward and incentivize employees
D) change the organizational structure.
all else constant, if the interest rate decreases, what happens to the present value of some amount of money to be received in the future? for example, what will happen to the present value of $15,000 to be received n years from today (where n > 0) if the interest rate decreases from 15% to 10%?
When interest rate will fall down from 15% t0 10% the future value will get reduced.
Given information:
Let's assume no of years to be 4, n=4
Present value (PV) = $15,000
Interest rate (i) = 15% = 0.15
Future value = Present value (1+i) ^n
FV = 15,000(1+0.15) ^4
= $26,235.093
If interest rate come down to 10%, (i)= 0.10
Future value = 15,000(1+0.10) ^4
= $21,961.5
The worth of a liquid asset at a predetermined time relying on a presumed growth rate is known as future value (FV). Investment professionals and financial planners are concerned with future value since it helps them approximate how much a money invested today will be valued in the future.
Knowing in advance what an asset will provide in future date will help the investors to make a perfect investment decision.
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alex crown purchased an automobile for $20,000 on january 1. the car is estimated to have a 5 year life. the adjustment for depreciation at december 31, assuming accounts are not adjusted monthly, will be:
On December 31, the adjustment for depreciation of the automobile is ($4,000)
A depreciation adjustment entry is a journal entry made at the end of a period to reflect the decrease in the value of the fixed assets.
The annual accumulated depreciation is calculated as:
(asset value - salvage value) / useful life years
The salvage value is the expected value of an asset at the end of its useful life. Since the information of salvage value is not given, we assume it is equal to zero.
Hence,
The annual accumulated depreciation = $20,000 / 5 = $4,000
It is the 1st year, therefore, the entry for the adjustment for depreciation is ($4,000). The adjustment for depreciation has negative value since it reflects the decrease of the value of an asset.
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The idea that elected representatives vote
for laws that are acceptable to most of their
constituents
Answer:
whats the question your asking
along with being rare, durable, and not easily substituted, the resource must also be , which means the customer is willing to pay extra because of the uniqueness.
The replacement is rated according to how closely it resembles the entrepreneur's special resource and capability. The alternative serves the same fundamental demand that the original product or service satisfies.
The required details for substitute in given paragraph
A replacement is a product that consumers can quickly swap out for another. In economics, goods are frequently substituted for one another if the demand for one product rises as the price of the other does. In economics and consumer theory, a substitute, or substitutable good, is a thing or service that customers perceive as being substantially the same as or sufficiently similar to another good. A product that serves as a replacement is known as a substitute.
Alternatives are valued by customers and have a significant role in the market.
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a borrower defaulted on a mortgage loan, leaving an unpaid balance of $95,000. after receiving only $85,000 from the sale of the property, the lender filed for
a borrower defaulted on a mortgage loan, leaving an unpaid balance of $95,000. after receiving only $85,000 from the sale of the property, the lender filed for a release deed.
In commonplace law, a deed is any criminal tool in writing which passes, affirms, or confirms a hobby, right or property and that is signed, attested, added, and in some jurisdictions, sealed. It's far generally related to transferring (conveyancing) a name to the property. The deed has a more presumption of validity and is less rebuttable than a device signed by means of the birthday party to the deed. A deed may be unilateral or bilateral. Deeds include conveyances, commissions, licenses, patents, diplomas, and conditionally powers of a lawyer if achieved as deeds. The deed is the modern-day descendant of the medieval charter, and delivery is a concept to symbolically update the historic ceremony of livery of seisin.
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grover is a sales representative for avon products inc., a company that sells beauty and gift products door-to-door. ruby, grover’s manager, assigns grover a certain territory in which to work. the territory that grover is assigned has historically had one of the highest sales records in the state. ruby is concerned that grover is not adequately working the territory, so she allows regina to also sell in that same territory. does grover have any grounds on which to file a lawsuit against ruby?
Yes, Ruby has disregarded a principal's obligation to cooperate and may be held accountable for Grover's lost profits.
A profit is an income that is given to the owner in an efficient market manufacturing process in accounting. The owner's primary interest in the income-formation process of market production is profit, which is a measure of profitability. Different profit metrics are frequently employed. Profit is a word that's frequently used to refer to the monetary benefit that a company has when its income exceeds its costs and expenses. According to Webster's Dictionary, accountability is "the duty or willingness to accept responsibility for one's conduct." At work, that may manifest as taking responsibility for a mistake and sharing it as a lesson learned or giving a presentation on your individual contributions and their significance.
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Suppose that u. S. Mining companies purchase german-made ore trucks at a reduced price. By itself, what effect will this purchase have on the gdp deflator and on the consumer price index?.
There won't be any changes to the GDP deflator or the consumer price index.
The average price variations of the products and services that households purchase are measured by the Consumer price index (CPI) all households, which is computed by Statistics Netherlands. Employers' organizations, trade unions, and the government regularly utilize the index as a key indicator of inflation. The cost of living index (CPI) is calculated by the Bureau of Labor Statistics (BLS) as a weighted average of prices for a sample of goods and services that is representative of overall consumer spending in the United States.
Every month in the US, the Consumer Price Index (CPI) tracks changes in consumer prices.
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What is the amount of the self-employment tax (SECA) and how does it compare to FICA taxes?
Answer:
The self-employment tax rate is 15.3%. The rate consists of two parts: 12.4% for social security (old-age, survivors, and disability insurance) and 2.9% for Medicare (hospital insurance).
ogletree enterprises purchased an 18-month insurance policy on may 31 for $3,600. the december 31 balance sheet after adjustments are prepared would report prepaid insurance of
On December 31, the entry for the prepaid insurance in the balance sheet should be adjusted to $2,200
The fee connected with an insurance contract that has been paid in advance of the coverage period is known as prepaid insurance. Thus, prepaid insurance is the money paid for an insurance contract that has not yet been used after the time period specified in the contract has passed.
From the data, the insurance payment should be fully accounted within 18 months.
Monthly premium cost = $3,600 / 18 = $200
The remaining months on December 31 (from May 31) = 18 months - 7 months = 11 months
Hence, the adjustment for the prepaid insurance is: 11 x $200 = $2,200
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if a factory has 100,000 units of materials in the system and if the average flow rate of the system is 5,000 units per day, then according to little's law, the average throughput time is
Little's law states that the average throughput time is 20 days if a factory has 100,000 units of materials in the system and the system's average flow rate is 5,000 units per day.
What is the flow's typical rate?Average flow, which is typically represented in cubic feet per second, refers to the stream's average discharge at a specific location.
What, using an example, is throughput time?The rate at which a product moves from the receipt of a manufacturing order to the end of production is referred to as throughput. If we were a candle manufacturer, for instance, we could examine one of our product manufacturing processes and determine that we produce 3 candles each hour.
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on december 1, jasmin ernst organized ernst consulting; on december 3, the owner contributed $84,000 in assets in exchange for its common stock to launch the business. on december 31, the company’s records show the following items and amounts.
On December 31, the company’s records show the following items and amounts in terms of Cash flow statement (CFS).
During the time period covered by the income statement, a business's cash collections and cash payments are the primary subject of a cash flow statement (CFS), a type of financial statement. A firm must continuously monitor its cash flows in order to remain healthy.Cashflows operating activities
Cash received from customer 0
Cash paid to employees -1750
Cash paid for rent -3350
Cash paid for telephone expense -760
Cash paid for misc. expense -580
Net cash used in Operating activities -6640
Net cash provided from Operating activities
Cashflows from Investing activitiesCash paid for equipment -18000
Net used in investing activities -18000
Cashflows from Financing activitiesCash paid for dividend -2000
Issuance of stock 38000
Net cash provided from financing activities 36000
Net increase in cash 11360
Beginning balance of cash 0
Ending balance of cash 11360
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for a monopoly to successfully price discriminate, its customers must: group of answer choices feel that the product is a necessity. have identical demands. be unable to resell the product. actively engage in arbitrage.
If a monopoly is to be able to engage in price discrimination successfully, then its customers must be unable to resell the product.
What is price discrimination?Price discrimination refers to a practice where a company charges different price for the same products to different sets of people. These people are often differentiated based on their demographic characteristics.
If a monopoly must be able to successfully engage in price discrimination, then the customers of the monopoly must be unable to resell the product. If they were able to resell, they would simply buy the goods for a lower price from those who are sold at a lower price, and then sell it at a higher price to those the monopoly charges higher.
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What are queries usually used for?
I did some research for you and this is what I got.
"A query can give you an answer to a simple question, perform calculations, combine data from different tables, add, change, or delete data from a database. Since queries are so versatile, there are many types of queries and you would create a type of query based on the task."
"Primarily, queries are used to find specific data by filtering explicit criteria. Queries also help automate data management tasks, summarize data and engage in calculations. Other examples of queries include append, crosstab, delete, make a table, parameter, totals and updates."
A query can give you an answer to a simple question, perform calculations, combine data from different tables, and add, change, or delete data from a database.
Data is a collection of separate or ongoing values that communicate information, describing the amount, quality, fact, statistics, various fundamental units of meaning, or just sequences of symbols that may be further formally understood.
Data is information that has been altered into a form that can be sent or processed on a computer. Information that has been converted into digital binary form for usage with contemporary computers and communication channels is referred to as data. The singular or plural form of the topic providing data is acceptable.
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many organizations replace an information system by slowly phasing in components of the new system while slowly phasing out components of the old one. what is this cutover strategy called?
The cutover strategy in which many organizations replace an information system by slowly phasing in components of the new system while slowly phasing out components of the old one is called the d) phase-in approach.
In the phase-in approach, a project is broken down into pieces to complete it as it is a large project to complete on the whole.
The information systems of an organization are large data collections and cannot be replaced in one go for an organization.
In order for replacing the information system of an organization, the phase-in approach is used. In this approach, the new components of the information system are introduced slowly and the older once are removed slowly. There is a slow phase-in and a slow phase-out so that it is easier to replace a system.
Although a part of your question is missing, you might be referring to this question:
Many organizations replace an information system by slowly phasing in components of the new system while slowly phasing out components of the old one. what is this cutover strategy called?
a. direct conversion
b. parallel start-up
c. pilot start-up
d. phase-in approach
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chavez corporation reported the following data for the month of july: inventories: beginningending raw materials$45,000$39,000 work in process$25,000$35,000 finished goods$41,000$56,000 additional information: raw materials purchases$75,000 direct labor cost$100,000 manufacturing overhead cost incurred$68,000 indirect materials included in manufacturing overhead cost incurred$11,600 manufacturing overhead cost applied to work in process$67,000 any underapplied or overapplied manufacturing overhead is closed out to cost of goods sold. the direct materials cost for july is:
If manufacturing overhead cost of goods sold (COGS) are applied to work in process, they result in a cost of goods manufactured for July of $ 232,000 ($67,000).
The direct expenses incurred in creating the products a business sells are referred to as cost of goods sold (COGS). The cost of the materials and labor used directly to make the good are included in this sum. Indirect costs like those manufactured associated with the sales force and distribution are not included.
The cost of goods sold (COGS) is the price of purchasing or producing the things that a business sells over a given period. As a result, only manufactured expenditures that are directly related to the production of the goods, such as labor and material costs, are included in the measure.
Raw Materials Inventories Utilized In Production
Beginning Raw materials $ 41,000
Add Purchases $ 73,000
Less Ending Raw materials ($ 37,000)
Used in Production $ 77,000
Cost of goods manufactured
Raw Materials $ 77,000
Direct labor cost $ 98,000
Manufacturing overhead $ 65,000
Total Cost of Manufacturing $ 240,000
Add Opening Work in process $ 23,000
Less Ending Work in process ($ 31,000)
Cost of goods manufactured $ 232,000
Not that Manufacturing overhead are included to the amount Applied in the Manufacturing Cost
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All purchase/sale transactions are made on credit. The company uses the fifo method and perpetual inventory system to report transactions. What is the ending balance of inventory under the fifo method?.
Using the first-in, first-out (FIFO) method, the ending balance of inventory is the most recent costs incurred to purchase merchandise or materials.
The first-in, first-out (FIFO) method is a widely used inventory valuation method that assumes that the goods are sold (by merchandising companies) or materials are issued to production department (by manufacturing companies) in the same order in which they are purchased. In other words, the costs to acquire merchandise or materials are charged against revenues in the order in which they are incurred. Usage of FIFO method is very common to compute cost of goods sold and the ending balance of inventory under both perpetual and periodic inventory systems.
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anna’s antiques expects to get two bidders for the unique china teacup it sells. each of the bidders can either have a high-value of $100 or a low-value of $70 with equal probability. what is the expected revenue from setting the price at $70? a. $60 b. $70 c. $80 d. $100
Based on the probability of the high value bidders and the low-value bidders for the unique china teacup sold by Anna's Antiques, the expected revenue from setting the price is B. $70
How to find the expected revenue?The expected revenue that a person makes depends on the prices that are being offered for the product to be sold. When there is a high bid and a low bid, the expected revenue is found as:
= (Probability of high bid x High bid price) + (Probability of low bid x Low bid price)
This would only work if the price of something was not already set.
if the price is already set as was the case here, then the expected revenue would be the price that the product was set at, if this price was lower than the high-value bid but the same as the low-value bid As the $70 is lower than the $100 high value bid, the expected revenue from setting the price at $170 is $70.
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Business-level strategies detail commitments and actions taken to provide value to customers and gain competitive advantage by exploiting core competencies in?.
Business-level strategies detail commitments and actions taken to provide value to customers and gain competitive advantage by exploiting core competencies in specific product market.
Define Business-level strategies.Business level strategies are the coordinated set of moves and activities made with the goals of providing consumers with value and creating a competitive edge for the company in the specific product or service market by utilizing its core capabilities. It establishes the company's position in the market in comparison to its competitors. Businesses with several businesses, each of which is regarded as a Strategic Business Unit, are the primary focus of business-level strategies (SBU).
It establishes how each Line of Business, or SBU, inside the company will compete in the market. It also focuses on how the company will effectively manage the interests and operations of a particular unit while competing successfully in each of its lines of business.
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you are considering two independent projects with the following cash flows. the required return for both projects is 16 percent. given this information, which one of the following statements is correct?
According to the statement about two independent project with cash flow is You should accept both projects based on both the NPV and IRR decision rules.
Option E is correct.
What do you mean by cash flow?Cash flow is defined as the movement of money in and out of a organisation . Cash received identifies inflows, and cash spent identifies outflows. The cash flow statement is a financial statement that reports on a company's sources and usage of cash flow over definite time.
What Are NPV and IRR?Net present value (NPV) is defined as the difference between the present value of cash inflows and the present value of cash outflows over a definite period of time. On contrary , the internal rate of return (IRR) is a calculation used to predict the profitability of potential investments.
The question is incomplete the missing part is given below:
You are considering two independent projects with the following cash flows. The required return for both projects is 16 percent. Given this information, which one of the following statements is correct?
You should accept Project A and reject Project B based on their respective NPVs.You should accept Project B and reject Project A based on their respective NPVs.You should accept Project A and reject Project B based on their respective IRRs.You should accept Project B and reject Project A based on their respective IRRs.You should accept both projects based on both the NPV and IRR decision rules.Learn more about cash flow:
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microshine is a brand of toothpaste. in its earlier campaign, microshine was advertised as an effective whitening toothpaste. however, due to declining sales, its parent company has decided to rethink its marketing strategy. in its new campaign, microshine is still portrayed as whitening toothpaste, but it also features a research study where other familiar brands in the market fail to make the grade. in this campaign, microshine has tried to reposition
In this campaign, Microshine has tried to reposition the competition.
In the field of business, we can define the repositioning of competition as an effective strategy in which a business tries to make a positive impact about itself by highlighting the negative points about the competitor's business.
The repositioning competition strategy works on the phenomenon that the customers are made to believe that the product of a particular business is better than the other by highlighting the negativities of the other one.
The company Microshine has also tried repositioning the competition by featuring a research study where other familiar brands in the market fail to make the grade.
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