Abstract Mart is an application that allows artists to showcase their work and leverage the platform for a sales boost. The outcome for the seller's end is not significant and hence causing the artists a backlash. The company is on the verge of bankruptcy. Which approach should Abstract Mart have taken on? Six Sigma Bench Marking None of the above TQM
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MGT - 314 (Operations Management)
MCQ:
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- A. Sellers grant credit to customers: a. During periods of high interest rates to reduce the overall cost of capital (WACC) and to increase return on assets b. When granting credit is a low-cost addition to the value proposition relative to other alternatives c. When the seller does not want new customers d. When the seller wants to increase its marketing costs B. Which from the following list is NOT a primary cost of granting credit to customers: a. The cost of managing credit and credit collections b. Some customers will not pay c. The cost of carrying the receivables d. Advertising costs C. Matching the credit period to the buyer’s cash cycle time makes purchasing from the seller: a. Less attractive for the buyer b. Increases the elasticity of buyer demand c. Does not impact attractiveness for the buyer d. More attractive for the buyerInstructions: please put the data in excel , or at least try to do so. --------- Company Z has the following historical sales information for one of its hydraulic pump models for the last 4 years: (the only image attached (period, years)) ---------------------------------------On the other hand, the manufacturing process used by Company Z is sequential* and has the following characteristics: Machines that can be used in any order** M1 M2 M3 M4Production rate per machine per hour 7 4.75 4.25 6.50Machine efficiency % 0.9 0.95 1 0.85Machine reliability % 0.70 0.95 1 0.80 Sequential; in the sense that the output of Mi is…Explain all options. 21. Price, quality, timing, need, and source represent sources of ____________________. prospecting qualifying objection closing 27. Which one of the following is recommended as the best practically and known as “zero-based” budgeting? competitive parity percentage of sales objective and task incremental
- Cost-Volume-Profit Analysis (CVP analysis), also commonly referred to as Break-Even Analysis, is a way for companies to determine how changes in costs (both variable and fixed) and sales volume affect a company’s profit.1. Discuss the main components of CVP analysis by providing your own numerical example and constructing a Break-Even Chart.provide the meaning of cost volume profit analysis. Provide numerical data and calculate contribution margin ratio and variable expense ratio, break even in units and in sales, changes in net income, margin of safety and degree of operating leverage. Also, state the assumptions of cost volume profit CVP analysis??SLO 10.2. Invoice clearance and payment procedures: Are best performed by the user or specifierAre the same for goods and servicesAre most effective when performed by a person in accounts payableMay be streamlined with an invoice-less system within an e-procurement systemMay stipulate dropping a supplier if a variance exceeds a set amount NEWSLO 10.3. Information systems technology can: Increase data accessibility and transmission speed, but increases costsEnable system integration across functions, but not data accuracyIncrease data accuracy and accessibility at lower costEnable speedier communication internally, but not externally with suppliersEnable system integration, but increases time spent on tactical issuesWrite a business letter based on the context below: To attract customers, your company advertised a 10 percent discount of first-time orders from November 2-8. Although the advertisement clearly stated that this special offer applies only to orders from Nov 2-8, an order arrives today (Nov 9) from a client, Mr. Kenneth B. Abellera, purchasing agent of ABC Enterprises, requesting for the 10- percent discount. As sales representative for your company, write to Mr. Abellera. Explain that you can fill the order promptly but that the 10 percent discount is no longer available. The address of ABC Enterprises is 10 Paris Road, California.
- 1. How do companies primarily fund themselves, through issuing debt or equity? Select one: a. Debt. b. Equity c. Neither 2. What is a shelf registration? a. A shelf registration means that an offering of securities is delayed. b. A shelf registration means that the issuer will receive extra scrutiny by the SEC. c. A shelf registration means that companies are allowed to skip a lot of filing requirements when issuing a security.4. Thainess Co., a mid-size firm, has set up its ERM framework and wants to assess whether its ERM components are working properly. To do this, what are some of the ways to judge "effective" ERM? a. Use the corporate scorecard results as an indicator of the effectiveness of ERM b. Assess whether risks have been controlled across COSO ERM Framework components with reasonable assurance that risk management will allow the firm's objectives to be achieved c. Assess ERM effectiveness by using the results of the financial auditor's report d. Review the firm's operational objectives and determine if each of them has been met 6. What would be the appropriate consolidation of reports by CAE? a. Significant events should be reported immediately, periodic written reports should cover key risk indicators on a scheduled basis, and the ERM plan should be reported during periodic presentations b. Risk owners should report every risk event timely, and the CAE is responsible for ensuring…MODIFIED TRUE or FALSE. Write "T" if the given statement is TRUE, correct and valid. Write "F", if otherwise. If your answer is either "T" or "F" explain, why is it true or false. Cite a theory, use a formula or graph to support your answers. 17. Other factors/determinants such as pests and diseases can affect largely the demand of the people for a specific good or service. 18. Price elasticity of either demand or supply measures the responsiveness of the quantity demanded or quantity supplied by buyers or sellers to changes in its own income 19. A perfectly inelastic demand exhibits a horizontal demand curve and n=∞. 20. A perfectly elastic supply exhibits a vertical supply curve and n=0. 21. In a monopolistic market, there are several suppliers in the market. 22. The given equation Q = 13 -0.25P is an example of a supply equation. 23. The formula to derive the elasticity of either for demand or supply is: O= _ x _ 24. Luxurious goods are considered inferior goods for minimum…
- “Did the Austin wedding contract you were working on go out yet?” asked Tonya Roberts, the executive director of the downtown convention center operated by the city of Springdale. “Yes, I mailed it to them yesterday after we talked about it,” replied Lara, the Center’s DOSM and revenue manager for space rental. “Why do you ask?” “I just got off the phone with the mayor’s office. They want to hold a big fundraiser for his reelection campaign in the ballroom the same night the Austin wedding wanted to reserve it. The wedding was for 200 people right?” continued Tonya. “That’s right. 200 people at about $150 a head; it’s a nice piece of business. About $30,000,” said Lara. “Well the mayor expects 1,000 people, at $100 per person. And don’t forget, he’s the boss. We can’t hold both events. I need you to call the Austins and tell them you made a mistake. Tell them the room is already booked that night. They’ll need to find another space.” What would you advise Lara to do if she asked you…Draw the IPO model and explain its purpose. How does S change the model? What is complexity and how can we reduce it?Chapman Inc. sells a single product, Zud, which has a budgeted selling price of $24 per unit and abudgeted variable cost of $12 per unit. Budgeted fixed costs for the year amount to $45,000. Actualsales volume for the year (47,000 units) fell 3,000 units short of budgeted sales volume. Actualfixed costs were $46,000. With everything else held constant, what impact did the shortfall in volume have on profitability for the year? (Round your answer to the nearest whole number; indicatewhether the effect was favorable or unfavorable in terms of its effect on operating income.)