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Mademuasel [1]
2 years ago
7

All of these are pitfalls an organization should avoid in strategic planning except:_____________.1. using plans as a standard f

or measuring performance.
2. using strategic planning to gain control over decisions and resources.
3. failing to involve key employees in all phases of planning.
4. too hastily moving from mission development to strategy formulation.5. being so formal in planning that flexibility and creativity are stifled.
Business
1 answer:
Tamiku [17]2 years ago
3 0

Answer:

1. using plans as a standard for measuring performance.

Explanation:

Strategic planning is an important process that enables a business or an organization to have a sense of direction, goal orientation, and also enables them to evaluate and measure progress.

It is important when carrying out the strategic planning process to first focus on clarifying and developing the vision, mission and objectives of the business before moving on to strategy formulation, this helps to give a sense of direction.

In the process of strategic planning, involving key employees cannot be overemphasized. Giving key employees the chance to be involved in the planning process will enable them to connect to the business and set them up for success.

Apart from the fact that strategic planning provides a sense of direction, it also enables a business to outline goals that can be measured, hence providing a standard for measuring performance.

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ASSETS Cash $ 20,000 Accounts receivable 80,000 Inventory 50,000 Net plant and equipment 250,000 Total assets $ 400,000 LIABILIT
Dahasolnce [82]

Answer:

The firm's receivable turnover is 20 times

Explanation:

The computation is shown below:

Accounts receivable turnover ratio  = (Credit sales ÷ average accounts) receivable

where,  

Average accounts receivable = (Opening balance of Accounts receivable + ending balance of Accounts receivable) ÷ 2

= ($0 + $50,000) ÷ 2

= $25,000

And, the net credit sale is $500,000

Now put these values to the above formula  

So, the answer would be equal to  

= ($500,000 ÷ $25,000)

= 20 times

And, the average collection period in days = Total number of days in a year ÷ accounts receivable turnover ratio

= 360 days ÷ 20

= 18 days

7 0
2 years ago
Swanson Company has identified the following activities related to indirect production costs: Activity Activity Costs Cost Drive
julia-pushkina [17]

Answer:

Unitary cost= $11.75

Explanation:

<u>First, we need to calculate the predetermined overhead rate for each activity:</u>

Predetermined manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base

Machine Setup= 180,000/1,500= $120 per set up hour

Materials Handling= 50,000/12,500= $4 per pound

Electric Power= 20,000/20,000= $1 per kilowatt hour

Product 1:

Number of units produced 4,000

Direct Material Cost $20,000

Direct Labor Cost $12,000

Number of setup hours 100

Pounds of materials used 500

Kilowatt-hours 1,000

<u>Now, we can determine the total cost for Product 1:</u>

Total cost= 20,000 + 12,000 + (120*100 + 4*500 + 1*1,000)

Total cost= $47,000

<u>Finally, the unitary cost:</u>

Unitary cost= 47,000/4,000

Unitary cost= $11.75

4 0
2 years ago
The company had a net income of $248,462, and depreciation expenses were equal to $72,487. What is the firm's cash flow from fin
Mademuasel [1]

Complete Question:

The complete question can be seen the in the attachment at the end of the solution of the question.

Answer:

Option B. -$182,057

Explanation:

The Cash flow from financing activities can be calculated by using the following formula:

Cash flow from financing activities = Changes in the equity finance

+ Changes in long term borrowings + Changes in short term borrowings

- Interest paid - Dividends paid

Here

Changes in the equity = $175,000 common stock in year 2008

- $125,000 common stock in year 2008 = $50,000

Changes in long term Borrowings = $61,290 - $78,445 = - $17,155

Changes in short term Borrowings = $16,753 - $12,004 = $4749

Interest paid is $0 because interest rate is not given hence we can't calculate it.

Dividends paid = $190,568 Opening Retained Earnings + $248,462 Net Profit for the year - $219,379 Closing Retained Earnings  = $219,651

Now, by putting values in the above equations, we have:

Cash flow from financing activities = $50,000 - $17,155 + $4749 - 0 - $219,651 = -$182,057

4 0
2 years ago
Daryl would like to open new checking and savings accounts. One of his primary concerns is avoiding bank fees. Which type of ban
nikdorinn [45]
I found the same question but it had choices. The choices were:
a) retail bank
b) commercial bank
c) savings and loans
d) credit union

The type of banking institution that is most suitable for Daryl is CREDIT UNION.

Credit Union is defined as a member-owned financial cooperative. They offer banking services but these are offered to their members. They grant loans and interest paid on those loans are also given to member-owners as dividends. 

Daryl will not only earn interest from his checking and savings accounts, he will also earn dividends. Any bank fees issued by the cooperative will be returned to them in the form of dividends.
5 0
2 years ago
Read 2 more answers
The productivity gains achieved by specialization are due to A. comparative advantage. B. lower opportunity costs from switching
Ronch [10]

Answer:

Comparative advantage.

Explanation:

Comparative advantage is the ability to produce good and services at a lower opportunity cost compared to others , leading to lower selling price and competitive advantage over others .

Specialization is about concentrating on producing a few products in order to

build brands , expertise and gain maximum productivity leading to a reduction in selling price and  a comparative advantage.

4 0
2 years ago
Read 2 more answers
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