The THREE (3) types of business formations are Sole Proprietorship, Partnership, and a Registered Company. Give him a detailed analysis of any TWO (2) types of business formations by critiquing TWO(2) main characteristics of each
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Question 3
George, a Pharmacist, has recently graduated from college where he did most of his courses
online. He has no experience in management and is interested in opening his own Pharmacy in a
rural community where he is of the belief that there is a demand.
George has approached you, a third-year student pursuing a Bachelor’s Degree in Business
Administration, to assist him to select the most appropriate business formation based on his
present situation.
A. The THREE (3) types of business formations are Sole Proprietorship,
Registered Company. Give him a detailed analysis of any TWO (2) types of business
formations by critiquing TWO(2) main characteristics of each
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- Question 2 A particular road is used by N drivers each day. Each driver obtains a benefit v from the journey and incurs a cost c(N ) that increases with the number of drivers on the road due to congestion. Suppose that the cost incurred is given by c(N) = a+bN, for some positive numbers a, b. If the agent decides not to use the road, they receive 0. You may assume throughout that the number of drivers N can be any real number (rather than an integer). Each driver uses the road at most once. the number of drivers that join the road is Ne = (v−a)/b (iv) Suppose that the government charges a toll t (a congestion charge) for each journey. Find the optimum toll. Interpret your answer in terms of the externality that each driver imposes on others.Question: The marketing system provides some useful insights regarding the sales order. Different departments use this information. For instance, the production process uses this information to forecast the expected sale for next month. The production clerk uses this to create an online production schedule. From this schedule, the system automatically prepares weekly online work orders to be used by the production department.The production supervisor assesses the work orders from his terminal and prepares the necessary paper-based move tickets and materials requisitions. Then, the move tickets and two copies of the materials requisitions are distributed to each work centre. Later, work center employees submit the two copies of the materials requisitions to the warehouse in exchange for materials and sub-assemblies. If additional new materials are needed beyond the standard quantity, the supervisor issues additional materials requisitions.Work centre employees record their work hours on…Question A firm that assembles refrigerators and stoves is about to start production of new models of each. Each model will require assembly time, inspection time, and storage space. The amounts of each of these resources that can be devoted to the production of the items is limited. The manager of the firm would like to determine the quantity of each item to produce in order to maximize the profit generated by sales. He has the following data at his disposal: Refridgerators Stoves Profit per unit $60 $50 Assembly time per unit 4 hours 10 hours Inspection time per unit 2 hours 1 hour Storage space per unit 3 cubic feet 3 cubic feet Other information Resource Amount of time available Assembly time 100 hours Inspection time 22 hours Storage space 39 cubic feet Questions - •Identify the feasible solution space. •At which point will profit be maximized?
- Question 4 CWD Business systems maintains a successful Telecom sales department for Top up call credit in which a clerk takes orders by telephone. If the clerk is occupied on one line, incoming phone calls to the department are answered automatically by an answering machine and asked to wait. As soon as the clerk is free, the party that has waited the longest is transferred and answered first. Calls come in at a rate of about 15 per hour. The clerk is capable of taking an order in an average of 3 minutes. Calls tend to follow a Poisson distribution, and service times tend to be exponential. The clerk is paid $15 per hour, but because of lost goodwill and sales, CWD loses about $30 per hour of customer time spent waiting for the clerk to take an order. Part A a. What is the probability that no customers are in the system (Po)? b. What is the average number of customers waiting for service ( Lq)? c. What is the average number of customers in the system (L)?d. What is the average time a…Which of the following is not true? Question 6 options: 1) Climate involves statistics (e.g., long-term averages) but weather considers conditions at a particular time and place (e.g., one week of this summer). 2) The current weather at a location can be characterized by a single measurement, but climate requires many years of measurements (typically around 30) to characterize. 3) Both weather and climate can vary regionally (e.g., from one side of a mountain range to another). 4) Climate only refers to temperatures, but weather also includes other factors like wind, rain, and snow.Question: The system provides some useful insights regarding the sales order. Different departments use this information. For instance, the production process uses this information to forecast the expected sale for next month. The production clerk uses this to create an online production schedule. From this schedule, the system automatically prepares weekly online work orders to be used by the production department. The production supervisor assesses the work orders from his terminal and prepares the necessary paper based move tickets and materials requisitions. Then, the move tickets and two copies of the materials requisitions are distributed to each work centre. Later, work center employees submit the two copies of the materials requisitions to the warehouse in exchange for materials and sub-assemblies. If additional new materials are needed beyond the standard quantity, the supervisor issues additional materials requisitions. Work centre employees record their work hours on…
- Question 1. (Word Limit 250 – 350 words for each question) a) The logistics function can add value to an organization in a number of ways. Identify and explain the time-based opportunities for adding value.QUESTION ONE Leeds Institute of Management Studies is a private business college that has been in existence for over ten (10) years. The institute has gained a good position in society through its provision of the training service. Upon conducting an analysis of the business environment, Leeds Management obtained information on the high demand for engineering programs. Based on this information, Leeds Management decided to expand its service delivery to offer Engineering courses. Considering a number of issues that have to be put in place, Leeds Management projected that they would be able to offer the Engineering courses in five years beginning January 2025. As Head HR, you have been mandated to match the human resource supply and demand, making it compatible with the achievement of the organisation’s future objectives. REQUIRED: Based on the above situation, conduct an HR plan for Leeds Institute of Management Studies which will ensure the success and achievement of its objectives.Question Primer Inc. offers plumbing and air conditioning services to customers in Kumasi, Ghana. The company’s product strategy is to solve the customer’s problem irrespective of what it takes, at the time the customer needs it solved. The company provides same day service for customers, and theaim is to make the customer happy before leaving.The services of the company are available 24 hours a day, 7 days a week for customers. There is no extra charge for requests made on holidays, odd hours of the day, or in festive seasons. The company aims to be available at the call of customers without charging a pesewa extra, even at times when rival firms won’t get out of bed. The company fixes the price of the service before it begins, and customers can be assured of no extra charges. Irrespective of the customer’s location in the city, Primer Inc. does not charge additional fees for transportation. For all services, the company provides a one year guarantee on all parts and labour used,…
- Scenario for question Thabo Auto Parts is a very small scrapyard in Bloemfontein that started operating in February 2021 and they sell parts for BMW cars. Currently, they serve the customers in Bloemfontein. Even though Thabo Auto Parts has a limited marketing budget and few resources (e.g., employees), they are considering engaging in digital marketing. They already have a Facebook account that is used once a week to only post items on promotion to their 50 followers. Thabo Auto Parts manager states that they have seen too little benefits from marketing on Facebook, and they are, therefore, reluctant to invest further into digital marketing. The manager of Thabo Auto Parts has approached you for advice Identify the mistakes, if any, that Thabo Auto Parts did when using Facebook for marketing, discuss what they should consider for optimal benefits of Facebook marketingScenario for question Thabo Auto Parts is a very small scrapyard in Bloemfontein that started operating in February 2021 and they sell parts for BMW cars. Currently, they serve the customers in Bloemfontein. Even though Thabo Auto Parts has a limited marketing budget and few resources (e.g., employees), they are considering engaging in digital marketing. They already have a Facebook account that is used once a week to only post items on promotion to their 50 followers. Thabo Auto Parts manager states that they have seen too little benefits from marketing on Facebook, and they are, therefore, reluctant to invest further into digital marketing. The manager of Thabo Auto Parts has approached you for advice Explain to the Thabo Auto Parts manager what impact will digital marketing have on their business and suggest the three most appropriate digital marketing strategies (other than Facebook) for Thabo Auto Parts? You also need to explain why the three digital marketing strategies you…Scenario for question Thabo Auto Parts is a very small scrapyard in Bloemfontein that started operating in February 2021 and they sell parts for BMW cars. Currently, they serve the customers in Bloemfontein. Even though Thabo Auto Parts has a limited marketing budget and few resources (e.g., employees), they are considering engaging in digital marketing. They already have a Facebook account that is used once a week to only post items on promotion to their 50 followers. Thabo Auto Parts manager states that they have seen too little benefits from marketing on Facebook, and they are, therefore, reluctant to invest further into digital marketing. The manager of Thabo Auto Parts has approached you for advice Discuss which copyrights, patent or trade secret, if any, will result from this work.