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.
Answer:
C) supplier selection
Explanation:
The five stages of the business buying decision process are:
- Awareness and recognition: someone at the company identifies the need for a purchase.
- Specification and research: a detailed specification about what product is needed, quantity and technical requirements is elaborated. Using this information you start to search for potential vendors or suppliers that can offer the product.
- Request for proposals: vendors are contacted and you request them to send you their proposals regarding the products that you are looking for.
- Evaluation of proposals: the buying team must evaluate the proposals received form the potential vendors and select the most appropriate one.
- Order and review process: Price ans selling terms are negotiated, he order is placed and finally the products received are controlled to check that they meet the specifications.
1) Road
accident officials may visit the claimant in person, to confirm the
authenticity of the claim.
<span>2) The
RAF should reinstate their existing system (the fault-based compensation
system) with a new system proposed in the high court, called the Road Accident
Fund Benefit Scheme (RABS) – a no fault benefit system – that will pardon the
affected driver from civil liability.</span>
<span>3) Certify
that there is slight intermediary intervention as possible. For instance, lessen
the amount that lawyers take as a cut from pay-out.</span>
<span>4) Utilize more efficient employees, who can make
certain that the administrative side of the RAF runs as reasonably and smoothly
as possible, with as little deceitful behavior and corruption as possible. </span>
<span> </span>
Answer:
By the midpoint formula, his income elasticity of demand for pro football game tickets is equal to <u>+3</u>, and football game tickets are <u>normal</u> goods.
Explanation:
The formula for calculating income elasticity of demand using the midpoint method is:
income elasticity of demand = {change in quantity demanded / [(old quantity + new quantity) / 2]} / {change in income / [(old income + new income) / 2]}
= {2 / [(2 + 4) / 2]} / {10,000 / [(40,000 + 50,000) / 2]} = (2 / 3) / (10,000 / 45,000) = 0.67 / 0.222 = 3
when the income elasticity of demand is higher than 1, the goods are normal goods.
