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Naily [24]
2 years ago
11

Define and discuss the four common denominators of all organizations, and provide an example for each component. What is the dif

ference between an open and closed system? Provide an example for each system.
Business
1 answer:
-BARSIC- [3]2 years ago
4 0

Answer: The four common denominator of every organisation is a)common purpose, b) coordinated effort, c)division of labor, d) hierarchy of authority.

Explanation: Every organisation lembodied with these four common denominators:

1) coordination of effort - This is the formulation and enforcement of policies, rules, and regulations achieved through working together in a way that will maximize resources. individuals and groups contribute their effort through diverse skill sets to create value. For example every company consists of different diverse skill set- accountant, manager, clerk, security guard, etc all these people come together to fuse Thier skills in an effective running of any organization.

2)a common goal: This is achieved when every member of an organisation understands it's company's mission, strategy, and values, it tends to bring unity in the organisation and achieve success. For example When a new employee joins a business, he /she would try to fit into the existing culture which is due to a sense of belonging they feel that they will succeed by taking up the behaviors of people whom have had long membership in the culture and worthy of emulation.

3.) division of labor - This occurs when the common goal is pursued by individuals performing discrete parts of a task for greater efficiency for example in a production company Each worker performs a specific task . boosting productivity and efficiency.

4)hierarchy of authority- Also called the chain of command, is a control mechanism which aims to making people do the right things at the all times by enabling them make decisions quickly when necessary. Here order flows from the topmost pyramid of hierarchy to the lowest pyramid m for example

Nicholas receives a report from his Quality control team that a new drug has successfully passed all regulatory tests and is ready for production and sales to the public. Nicholas then sends directions to his head of finance to prepare a budget for financing the manufacturing and marketingof the new drug. He directs his marketing president to develop a marketing plan production manager to develop a production schedule based on the projected budget received from the finance manager.

Each managers will delegate part of their task to their respective department heads who will in turn, delegate some tasks to the members of respective team. Once the task has been completed, the information will flow back up through the hierarchy to Nicholas where it will be assessed and further decisions and directives will be made.

B)

---Open system: An Open system is an adaptive system with porous boundaries which allows exchange of ideas and information whether random or defined with useful feedback . It interacts with its outside environment and thus exchanges information to change thier system with changing conditions in terms of improvement and development. Examples include Hospitals, educational Sectors, Buisness organisation s etc.

--Closed systems, unlike open systems, are not adaptive, or porous. Only very thorough little information is exchanged.

A closed system does not need interactions with its environment and most times isolates from the environment to function effectively. Such systems are very a rare. Examples include the Millitary- army, Monasteries.

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Codes of conduct (ethics) are formalized rules and standards that describe what the company expects of its employees in terms of
Ludmilka [50]

Answer:

True

Explanation:

The codes of conduct are the set or collection of conduct in an organisation that are specified for the particular organisation. These conducts may be following:

  • Rules
  • Principles
  • Values
  • Employee expectations, behavior, and relationships

These codes of conducts are to be followed by the individuals associated with organisation.

4 0
2 years ago
The expected return on Natter Corporation's stock is 14%. The stock's dividend is expected to grow at a constant rate of 8%, and
AlladinOne [14]

Answer: The stock price is expected to be $57 a share one year from now.

Explanation:

The stock price is expected to be $57 a share one year from now.

Expected return = 14%

current share price= $50

expected share price in a year from now = $50 x (1 + 0.14)

expected share price in a year from now = 57

5 0
2 years ago
At Bargain Electronics, it costs $30 per unit ($20 variable and $10 fixed) to make an MP3 player at full capacity that normally
butalik [34]

Answer:

Net Income  Bargain Electronics would realize by accepting the special order is  - $ 24,000

Explanation:

Bargain Electronics is operating at full capacity, therefore the fixed costs are relevant at this decision.

<u>Incremental Costs and Revenues - Special Order 3000 units</u>

Sales ( 3000 × $25)                                     75,000

Variable Cost (3000× $20)                         (60,000)

Fixed Costs (3000× $10)                             (30,000)

Shipping Costs ( 3000×$3)                          (9,000)

Net Income                                                   -24,000

3 0
2 years ago
Dobry Die &amp; Mold, Inc., enters into a contract with Chet's Refitting Service to fix Dobry's precisely engineered molding equ
wlad13 [49]

Answer:

I suppose that when Dobry and Chet's entered a contract there was a time set for the reparations to begin, maybe not to end the repairs since that may vary, but at least to start working on them and try to do it fast.

If Chet's delayed their work and did not start repairing Dobry's equipment on time (5 days), then Dobry should be able to sue for consequential damages in order to recover money due to a foreseeable loss beyond the contract. If Dobry cannot operate its equipment then it cannot produce, so it is Chet's fault that their production is halted.

7 0
2 years ago
Match each definition with its related term by selecting the appropriate term in the dropdown provided. There should be only one
stepladder [879]

The terms and the definitions are matched appropriately

Explanation:

1. Operating cycle - C. The time it takes to purchase goods or services from suppliers, sell goods or services to customers, and collect cash from customers.

2. Accrual basis accounting- B. Record expenses when incurred in earning revenue.

3.  Retained Earnings = Beginning Retained Earnings + Net Income - Dividends Declared -  J. The income statement equation.

4. Unearned revenue - F. An asset account used to record cash paid before expenses have been incurred.

5. Revenues - Expenses = Net Income - L. The retained earnings equation.

6. Expenses  - I. Record revenues when received and expenses when paid.

7. Prepaid Expenses  -  A. Report the long life of a company in shorter periods.

8. Gains  - E. Increases in assets or decreases in liabilities from peripheral transactions.

9. None of these are correct

4 0
2 years ago
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