If Pacific Airlines can guarantee that their employees are following the established procedures and not straying from them, together with the appropriate staffing of personnel according to skills, they may be successful in their organisational restructuring.
If Pacific Airlines makes sure that employees follow established protocols and do not deviate from them, including proper staffing of personnel according to talents, they may be successful in their organisational restructuring.
They must also maintain the ability to adapt to environmental changes that might necessitate changing the focus of their efforts. Finally, they must make sure that broad intentions are translated into actionable programmes.
Every time a topic of policy or procedure is evaluated, Pacific Airlines must also implement new processes and procedures as needed in the organisational tactics, including thinking and acting strategically. Similar to how organisational policy must be tightly matched with operational requirements.
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The famous observation that households and firms interacting in markets act as if they are guided by an “invisible hand” that leads them to desirable market outcomes comes from whose 1776 book?
The famous observation that households and firms interacting in markets act as if they are guided by an “invisible hand” that leads them to desirable market outcomes comes from Adam Smith's 1776 book.
Who was Adam Smith?This man is the person that is regarded as the father of economics. He was the one that described the invisible hands. That is all of the factors that are known as the drivers of the demand and the supply in the nation.
The invisible hands according to him are the drivers that would enable the demand and the supply of goods in an economy to get to the stage of equilibrium.
Hence the solution is Adam Smith.
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A Hidden Champion Hidden champions is a term that was coined by a German business consultant, Hermann Simon. A hidden champion is a small to medium-sized company that is narrowly focused on a small, highly specialized market. Such companies are usually not well known, yet are very profitable. One example of a hidden champion is the French company Essilor. Staying the Course Essilor manufactures ophthalmic lenses, which is the formal name for contact lenses and lenses for eyeglasses. Over the years, Essilor has reinforced its single focus and avoided branching out into eyeglass retailing. Instead, the company concentrated its effort on going global. Today, Essilor is the industry's leader. Besides staying specialized and having a clear strategy, Essilor kept innovations coming. For example, Essilor invented progressive lenses. These alternatives to bifocal lenses have a gradual change in correction power from top to bottom. Like most other hidden champions, Essilor invests a notable four to five percent of its annual sales on research and development. Other characteristics of hidden champions include tight financial management, superior customer service, and foresight. How would you evaluate this hidden champion based on the 4 functions of business we learned in this lesson? Submit your complete evaluation to the dropbox titled: Business Opportunities
Nearly 30 years ago, Professor Hermann Simon first used the term "hidden champions."
What are the hidden champions of Germany?
A phenomenon in Germany. "Hidden champions" are privately held, extremely successful businesses with a minimal public profile, not even in Germany.
Many exceptionally successful businesses escape the attention of people whose business it is to know everything (media), understand everything (science), or improve everything, according to Professor Hermann Simon, who first used the term "hidden champions" about thirty years ago (consultants).
How many "hidden champions" exist?the psychology of money, success, and capitalism's influence. The term "hidden champions" refers to approximately 2,700 incredibly successful businesses, roughly half of which are German. Unlike large, publicly traded corporations, the majority of people have never even heard of them.
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additional memory for your computer sells for $109.99 with a $10.00 mail-in rebate. what is the final price after the rebate if an envelope costs $0.35 and a 'forever' postage stamp costs $0.41? group of answer choices
The price of an envelope is $0.35, a "forever" postal stamp is $0.41, and if additional computer memory costs $109.99 and is eligible for a $10.00 mail-in rebate, the final price is $100.75.
What do you mean by rebates?In general, a rebate is a quantity of money that is credited or given back to a customer after a transaction is complete. In exchange for the purchase of a consumer good or service, a rebate may pay cashback.
A rebate is a special kind of purchasing discount that refers to a sum that is retroactively reduced, returned, or refunded. This form of sales promotion is frequently used by marketers as bonuses or incentives for product sales.
A "forever" postal stamp costs $0.41, an envelope costs $0.35, and additional computer RAM costs $109.99 after a $10.00 mail-in rebate.
After taking into account any discounts and rebates, we must compute the price.
The cost may be calculated as follows:
Cost = extra memory - mall rebate + envelope expenses + postage stamp costs
Cost=109.99-10.00+0.35+0.41
=$100.75
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Research suggests that the nominal group technique typically produces better decisions than the devil's advocacy and dialectical inquiry approaches.
a. True
b. False
Research suggests that the nominal group technique typically produces better decisions than the devil's advocacy and dialectical inquiry approaches: False
It is the responsibility of that person or group to scrutinize the arguments put out in order to identify underlying premises, to press speakers to elaborate, and to make explicit any obscure issues.
The devil's advocacy decision-making strategy allows a group member to take the position of the decision's critic. This strategy for making decisions lowers the likelihood of groupthink and raises the likelihood of a wise choice. Additionally, it assists businesses in avoiding costly, dangerous choices.
The dialectical inquiry approach employs creative conflict to aid in identifying and challenging presumptions in order to change decision-makers' perceptions. Typically, the dialectical process concentrates on differences that are resolved by agreement, or the debate really changes in that direction.
The devil's advocacy decision-making strategy allows a group member to take the position of the decision's critic. This strategy for making decisions lowers the likelihood of groupthink and raises the likelihood of a wise choice. Additionally, it assists businesses in avoiding costly, dangerous choices.
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Given: C = 200 + .75(Yd), initial equilibrium = $6000, the target full-employment equilibrium = $9000.
e. Starting from the initial equilibrium of $6000, by how much would G have to be
increased to reach the target Y?
f. Starting from the initial equilibrium of $6000, by how much would T have to be
decreased to reach the target Y?
The increase to get tp target Y would be $750
The decrease of T to get to target Y would be $1000
How to solve for the multipliersa. The question has the MPC as 0.75 which is the disposable income. we can see this from the cost equation that we have in the question
Then we have to solve for the gap that is in the GDP
The real GDP gap is given as 9000 - 6000 = 3000
Next we would have to solve for the spending multiplier of the government
This is given as
1 / 1 - 0.75
= 1 / 0.25
= 4
Then the increase that the government would need to have would be seen as
3000 / 4
= $750
Hence we would say that the increase that has to to be made by the government to get to the target y would be $750
G needs to increase by 3000/4= $750
f. we have to solve for the tax multiplier here
= 0.75 / 1 - 0.75
= 0.75 / 0.25
= 3
The decrease that the Taxes would need to have would be 3000 / 3
= $1000
Hence we would say that the tax would need to be cut for about $1000 so that it would be able to get to the target.
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The national identities of products are blurring due to the effect of furloughing,nearshoring, or downsizing
Due to globalization's effects on downsizing, nearshoring, and furloughing, the national identities of products are becoming less distinct.
What makes globalization so crucial?The movement of goods, technologies, information, and jobs between countries is referred to as globalization. Globalization gives businesses in industrialized countries a competitive advantage. Globalization also benefits developing nations since they often have a lower cost of living, which attracts employment.
What three forms of globalization are there?globalization of the economy. The coordination of financial trade and the integration of global financial markets are the main topics here.
globalization of politics.
a globalization of culture.
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What is the generally accepted practice on how a notary signing agent describes key documents according to the notary signing agent code of conduct?
The Notary Signing Agent may reply to a signer's specific question with the aid of directing the person to examine the provisions within the vital or different ultimate documents diagnosed by using the NSA that can answer the question or by using referring the individual to the lender's consultant.
A representative is a professional who presents advice and other useful activities in an area of specialization. Consulting services normally fall below the area of expert offerings, as contingent paintings. In a nutshell, experts offer professional evaluations, analysis, and guidelines to businesses or individuals, based totally on their own expertise. They are essentially fixers, serving as goal troubleshooters, and presenting strategies to save you troubles and improve performance. A consultant (from Latin: consultare "to planned") is a professional (additionally known as expert, expert, see versions of that means beneath) who gives advice and other practical activities in an area of specialization. Consulting services normally fall under the area of expert offerings, as contingent work.
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Are interest or dividends taxable
In case your taxable hobby profits is more than $1,500 otherwise you received interest as a nominee for the real proprietor, you need to additionally consist of that earnings on agenda B (form 1040 or 1040-SR), interest and everyday Dividends and connect it on your tax go back.
Interest is charge from a borrower or deposit-taking monetary organization to a lender or depositor of an amount above reimbursement of the important sum, at a particular charge. It is distinct from a rate which the borrower may additionally pay the lender or some 1/3 party. Interest is the charge you pay to borrow cash or the cost you price to lend cash. Interest is most usually contemplated as an annual percentage of the quantity of a mortgage. This percentage is known as the hobby fee at the mortgage interest is described as the amount of cash paid for the usage of someone else's money. An example of interest is the $20 that became earned this yr for your financial savings account
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You're looking into life insurance. If you don't want to pay premiums all your life but want a policy that is in force your entire life, which policy should you buy?
A.
limited–payment life policy
B.
whole life policy
C.
universal life policy
The policy that should be bought is the Limited payment life policy
A particular kind of whole life insurance called limited pay life insurance enables payment for the whole cost of the protection up front for a predetermined period of time. If a person has a whole life insurance policy but would want to pay for the whole cost of the premiums over a certain time period rather than throughout their entire life, they can choose limited payment life insurance.
When someone chooses this course of action, it is typically because they purchased a whole life insurance policy in their latter years. Suppose, however, that a person desires to be paid a monthly dividend or cash value from their insurance during retirement. In that situation, limited payment life insurance is a wise substitute since it does away with the requirement for retirement premium payments.
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Answer: a
Explanation: i got it right on edmentum
IALCST needs to focus in their conference preparations and advertisement campaign to ensure a successful conference attendance in the United States. Based on the description above, please share three to five potential segment groups, one target market group and one product to position.
As the organization needs to focus in their conference preparations and advertisement campaign to ensure a successful conference attendance in the United States. the three potential segmented groups(market) for the campaign includes:
Medical practitionersHealth and well-being awareness speakersMedical students.What is the Segmentation, Targeting and Positioning?In marketing, the STP approach is a critical step for developing successful reaching the right buyers with the right products and ultimately, continuing to have a successful business. It helps to make the overall marketing process more manageable as its divide the large target markets into smaller segmented groups.
The segmented groups of the market allows the marketing efforts to have unique appeal when positioning specific products toward these segmented targets. The STP approach also helps an organization to identify their most suited customers for your marketing efforts and then focus on or develop products that are customized for that segment.
In conclusion, the result is that products and customers are uniquely matched and the marketing campaign is even more personalized to the customers’ wants and interests.
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The following table shows nominal GDP and an appropriate price index for a group of selected years. Compute real GDP. Indicate in
each calculation whether you are inflating or deflating the nominal GDP data.
Instructions: Enter your responses in the gray-shaded cells. Round your answers to 2 decimal places.
Year
1978
1988
1998
2008
2018
Nominal GDP,
Billions
2,293.80
5,100.40
8,793.50
14,441.40
20,501.00
Price Index
(2005 = 100)
40.40
66.98
85.51
108.48
128.59
Real GDP, Billions Effect on Nominal GDP
The calculated values for the nominal GDP are as follows:
$ 5677 . 72 it is inflating$ 7614.81 it is inflating$ 10283 . 59 it is inflating$ 13312.50 it is deflating$ 15942.92 it is deflatingHow to solve for the nominal GDPFor the year 1978
2,293.80 * 100 / 40.40
= 229,380 / 40.40
= $ 5677 . 72
The nominal GDP is inflating here
For the year 1988
we have 5,100.40 x 100 / 66.98
= 510040 / 66.98
= $ 7614.81
Nominal GDP is inflating here
For the year 1998
we have 8,793.50 * 100 / 85.51
= 879350 / 85.51
= $ 10283 . 59
The Nominal GDP is inflating here
For the year 2008
we have 14,441.40 * 100 / 108.48
= 1444140 / 108.48
= 13312.50
The nominal GDP is deflating here
For the year 2018
20,501.00 * 100 / 128.59
= 2050100 / 128.59
= $15942.92
The nominal GDP is deflating here.
Note, the Nominal GDP is said to inflate if the calculated value is more that the Nominal GDP in millions. It is said to deflate if the reverse is the situation.
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A bike manufacturer sends out a poll for its customers to rank 9 bike brands. What are the chances that you guess, at random, the top 5 bike brands correctly and in the correct order?
The chances that you guess, at random, the top 5 bike brands correctly and in the correct order
1/15,120
This is further explained below.
What is Probability?Because there are five empty spaces that can be filled by nine different brands, we can fill the first item in nine different ways, the second item in eight different ways, the third item in seven different ways, the fourth item in six different ways, and the fifth item by five different ways, giving us the term for the total number of permutations. Logically speaking, the only possible valid sequence is 1.
Given the total number of bike brands, there should only be one permutation that results in the correct order.
In conclusion,
And, the total number of orders can be [tex]$=9 \times 8 \times 7 \times 6 \times 5=15,120$[/tex]
The opportunity to choose the proper sequence will be given.[tex]$=\frac{1}{15,120}$[/tex]
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Remy is applying for a job where the employer asks that a cover letter and résumé be submitted. Remy should:
a.
Attach letters of recommendation also
b.
Send the cover letter first, and the résumé later
c.
Submit only the cover letter and résumé
d.
Send the cover letter as an attachment
Remy should submit only the cover letter and resume. Thus, option C is correct.
What is a job?A person's position or the work they are doing is referred to as their job. Someone has been paid for the work those who have completed in accordance with the task that must be accomplished or the aim that must be accomplished.
Remy is submitting a CV and resume and letter in order to be considered for a job. So, that she will get the job that is required for the same. This suggests that the employer will need the data and information to employ.
Therefore, option C is the correct option.
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Jack has just purchased his first surfboard from ABC Surf Shop (ABCSS), in Waikiki. While walking down Kuhio St., on his way home with his new surfboard, Jack hears someone call out his name. Jack immediately turns around and unbeknownst to Jack, Sarah is right behind him and gets hit in the face with Jack’s new surfboard. Sarah is rushed to the hospital emergency room with a concussion and a broken tooth. The cost of the emergency room visit was $1,200 and the dental work cost $4,000.
The issue that we are presented with here is that Jack has caused Sarah to be injured mistakenly because he was called from behind by her. The rule would be for him to take her to the clinic. The conclusion is that no party is at fault.
What is the summary of the situation that we have here?The summary on this situation is that an injury has occurred and the source of the injury is Jack. But unlike other situations that he may be held liable, the situation that led to the problem tells us that it was a mistake.
The issue
The issue is that Sarah has gotten injured through Jack after she called him from the back. He may have been startled by her.
The rule 'The rule that is to be applied here would be for Jack to effectively and immediately take her to the hospital so that she would get treated.
The conclusion
The conclusion that we can get from the scenario is that we cannot hold Jack liable for the injury. This was due to the fact that he did not act with the attempt to hurt her. He also did what was expected of him after the injury occurred.
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Complete question
IRAC Scenario
Jack has just purchased his first surfboard from ABC Surf Shop (ABCSS), in Waikiki. While walking down Kuhio St., on his way home with his new surfboard, Jack hears someone call out his name. Jack immediately turns around and unbeknownst to Jack, Sarah is right behind him and gets hit in the face with Jack’s new surfboard. Sarah is rushed to the hospital emergency room with a concussion and a broken tooth. The cost of the emergency room visit was $1,200 and the dental work cost $4,000.
Issue:
Rule:
Analysis:
Conclusion:
Form ________ ? is a short tax return form designed for single and joint filers with no dependents or itemized deductions.
Answer:
IRS
Explanation:
internal revenue service
What effect could an unmotivated empleado team
Answer:
As well as the impact on an individual's productivity, a demotivated employee can also affect the overall team, creating a negative atmosphere.
Explanation:
Additionally, with increased absenteeism or lateness at work and a lack of focus on daily tasks, other employees can become stressed when trying to pick up the slack.
I hope it will be helpful for you.
Businesses use organizational design to structure their
Group of answer choices
Businesses structure their people, information, and technology using organizational design.
The sole proprietorship, partnership, corporation, and S corporation are the four most popular business structures. State law permits the use of the Limited Liability Company (LLC) as a corporate form. The choice of a firm structure takes into account legal and tax factors.
What is Businesses structure?
The different divisions that make up a typical corporate structure contribute to the overall mission and aims of the organization. Marketing, finance, operations management, human resources, and information technology are typical departments.Although there are many fewer departments inside independent enterprises, these five divisions reflect the key departments within a publicly traded company. Many companies include a CEO as well as a board of directors, which is typically made up of the directors of each department and may also include one or more non-executive directors.Additionally, there are CFOs, vice presidents, and company presidents. However, there is a wide variety of corporate structures, with businesses ranging from a single company to a conglomerate of multiple corporations. Functional, divisional, geographic, and matrix structures are the four primary types of corporate structures.To learn more about Businesses structure visit:https://brainly.com/question/10730450
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Review the data and calculate the probability that someone with a credit score of 650 or below defaulted the loan
Your credit score of 650 is extremely near to the range for good credit, which is 670 to 739. With little effort, you could be able to improve your score to that level or even higher, giving you access to a wider selection of credit and loans with lower interest rates.
Checking your FICO® Score is the first step in the best strategy for raising your credit score. The report that is sent along with the score will include recommendations for methods to raise your score based on information from your particular credit report. You may notice consistent score increases and the increased access to credit that frequently goes along with them if you pay attention to the concerns indicated in the report and develop positive credit-scoring behaviors.
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1. Mel Merchant has a neighborhood grocery store that he would like to sell Bill buyer is interested in purchasing the store, but he is concerned because he knows that Mel has built up a lot of good will over the years, and he wonders whether Mel might just open up a new store down the block and take all the business from the old store with him. At the time of the sale Bill asks for and receives from Mel a clause in the agreement that Mel will not open another grocery store within a 150 mile radius of the old store for a period of ten years.
(a) What is this agreement called?
(b) Is the negotiated agreement a valid one?
(c) What guidelines would a court follow in assessing its enforceability?
a.) The name that the agreement/covenant that was made here is called is the non compete agreement.
b.) The clause that was negotiated is not a valid one.
c.) To enforce it, the court would have to check the period as well as the geographical area.
What business agreement do we have here?This is the agreement that was made that has the restraint of trade. That is there is a restraint that had the covenant not to compete. This is what is called the non compete agreement.
The non compete or the restrictive clause is one where a person would agree no to go into a business that would act as a competition to another party.
b. The negotiated clause that has been made here can not be said to be valid, To be enforceable it has to be within a geographical area within a reasonable period of time. The store is just a neighbor hood store that is a small scale store. Mel is not to carry out her operations within 150 miles.
This is unreasonable because it can cause her to either relocate or have to move away to a different business.
c. The period of time that is within the compass and the area would have to be checked by the court. This is what would be helpful to check the interest of the promisee .
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As shown in Exhibit 5-4, using the income approach, gross domestic product (GDP) is:
By using the income approach, a gross domestic product is calculated by summing the compensation of employees, taxes on production and imports (less subsidies on production), gross operating surplus and mixed income.
How to calculate GDP with the Income Approach?In economics, the income approach of measuring the gross domestic product is mainly based on the accounting reality that all expenditures in an economy should equal the total income generated by the production of all economic goods and services. The approach also assumes that there are 4 major factors of production in an economy and that all revenues must go to one of these sources.
In conclusion, when we add together all of the sources of income, then, a quick estimate can be made of the total production value of economic activity over a period and an adjustments will be made for taxes, depreciation, and foreign-factor payments.
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a. Describe the processes for developing and monitoring a business plan for a small business. b. Describe how you might establish systems to ensure the legal rights and responsibilities of the business are identified and the business is adequately protected, specifically in relation to work health and safety (WHS), business registration and environmental requirements. c. Explain how to communicate a business plan for a small business that clearly addresses priorities, responsibilities, timelines and budgets. d. Describe how you might evaluate the customer base and target market for a small business as a basis for the marketing objectives and strategies
Analyzing a business plan's strengths and flaws and tracking its long-term success are key components of establishing and monitoring a business plan for a small business.
A business plan is what?A business plan is defined as a document that outlines a company's goals and objectives as well as the methods through which they can be achieved.
Researching the business's objectives and goals, market trends, and rivals' performance are all part of creating and maintaining a business plan for a small company. On the other side, a business strategy can be followed up on by creating tracking systems that will show how well the objectives have been met. This means that setting quantifiable targets is crucial for evaluating the success of a business plan.
It may be inferred that the procedure for creating and monitoring a business plan for a small business is to assess a plan's advantages and disadvantages and keep track of how it performs over time.
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a. Describe the processes for developing and monitoring a business plan for a small business.
Which of the following statements is correct? (Pick One)
The correct statement is if supply decreases and demand decreases, there would be an indeterminate change in equilibrium price.
What is the correct statement?The supply curve is a positively sloped curve that shows the relationship between price and the quantity supplied. The demand curve is a negatively sloped curve that shows the relationship between price and the quantity demanded.
If supply decreases, the supply curve would shift to the left. Price would increase and supply would decrease. If demand decreases, the demand curve would shift to the left. Price and quantity would decrease. Taking both the decrease in supply and demand together, there would be an indeterminate change in price and and a decrease in equilibrium quantity.
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I’m not sure what I’m doing wrong with this please need help
when the amount of revenue
received exceeds the amount of
governmental expenses
when the amount of revenue
received is less than the amount
of government expenses
s the sum of all government
deficits minus the sum of all
government surpluses
the spending and revenues of the
US government
Based on the definitions of budget deficits, surpluses and debts, the following matches and key terms are correct:
Budget deficit - when the amount of revenue received is less than the amount of government expensesBudget surplus - when the amount of revenue received exceeds the amount of governmental expensesNational debt - the sum of all government deficits minus the sum of all government surplusesFederal budget - the spending and revenues of the US governmentHow does national debt form?A national debt forms when there is a budget deficit which means that the sources of revenue to the government were less than the expenses. Budget surplus is often sought after which is when revenue exceeds expenses.
The national debt would then be the sum of these surpluses less the sum of the deficits. This federal budget therefore tries to use as little debt as possible.
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hester (age 17) is claimed as a dependent by his parents, charlton and abigail. in 2022, hester received $10,120 of qualified dividends, and he received $13,120 from a part-time job. what is his taxable income for 2022?
The taxable income for 2022, given the amount that Hester received from his part time job, and qualified dividends, would be $10, 290
How to find the taxable income?To find the taxable income for Hester, you need to add up his income for the period and then deduct his deductions. If he claims no itemized deductions, then the standard deduction will apply.
Based on the fact that Hester is dependent on his parents, he should receive a different type of deduction but based on his income, he will receive the standard deduction for single filers in 2022.
The standard deduction that single filers get in 2022 is $12,950 which means that the taxable income to Hester for 2022 is:
= Qualified dividends + Income from part time job - Standard deduction
= 10, 120 + 13, 120 - 12, 950
= $10, 290
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What are some of the legal restrictions on how organizations can recruit employees?
The legal restrictions on how organizations can recruit employees are no illegal to discriminate against a job candidate , there should be not favoritism when collection applicants.
What are the legal restrictions on recruitment of employees?The legal restrictions on recruitment of employees are those restriction that is been set up so that the employers can not be able to do as they like when recruiting the new employees.
One of this restriction is that there should not be any kind of discriminate against a job candidate which could base on the color as well as gender differences when making the recruit.
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Which component of ethical decision making do you believe best explains student cheating: moral awareness, moral judgment, or moral intent? Why do you feel that way
The component of ethical decision making that best explains student cheating is moral conscience because it regulates student behavior.
What is moral conscience?Consciousness is a term that refers to the knowledge that an individual has of himself and his environment. Additionally, this term can refer to morality or the normal reception of internal and external stimuli by an organism.
What relationship does moral conscience have with student cheating?As previously explained, moral conscience refers to the individual's conception of his environment. Therefore, if a student perceives that cheating is okay because his classmates endorse him or because he himself considers that he has a logical explanation for cheating, he will surely believe that it is an action that is within social morality. However, to the general vision it is an unethical fact.
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Create a Slideshow Presentation Use presentation software to create a slideshow presentation about the career. Your presentation should include the following:: The name of the career Some information you learned from the video Some information you learned from your own research Education a person needs to get this type of job Skills a person needs to get this type of job How people in this job use technology
i just need the info i don't need the slides i just need the format
The format to make the slideshow presentation about the career is that:
1st slide: An introduction of what career is, and talk about the career of your choosing.
2nd slide: the reasons why that career is important, short note on what you know about that career.
3rd slide: Who can do that job and what they need such as skills, degree, etc.
4th slide: Summary of the career presentation.
What is a slideshow presentation called?A PowerPoint presentation is another name for a PowerPoint slideshow.
Due to the fact that lectures and lesson plans typically start with slides, slide presentations are important.
Therefore, Considering the layout and design of your slide presentations can truly pay off because they can either clarify or bring low an instructor's vocal content.
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James Sebenius identifies mistakes that negotiators make that keep
them from solving the right problem. Identify which mistake is being described.
Relationships, process, and interests are neglected - the primary negotiation factor is economic.
Group of answer choices
Failing to Correct for Skewed Vision.
Searching Too Hard for Common Ground.
Neglecting BATNAs.
Letting Price Bulldoze Other Interests.
Common ground in talks, which helps with the main negotiation component of economics, enables parties with disparate interests to give each other what they value most at the lowest possible cost.
what are the Six Habits of Merely Effective Negotiators?Neglecting the other side's problem:You can't address either of your problems or the problem of the other party if you don't comprehend the agreement from their point of view.
Letting price bulldoze other interests:Most business transactions have interests than money.
Letting positions drive out interests:Incompatible stances can conceal similar interests. Your "opponent's" loss need not necessarily be their benefit.
Searching too hard for common ground:While common ground is helpful in negotiations, divergent interests can provide each party what they value most while causing the least amount of harm to the other.
Neglecting BATNAs:BATNAs, or "best alternative to a negotiated agreement," describe your course of action in the event that the intended agreement cannot be reached.
Failing to correct for skewed vision:Summary: Role bias and partisan views are two types of bias that can cause mistakes.
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During a national debate on changes to health care, a cable news service performs an opinion poll of 480 small-business owners. It shows that 43% of small-business owners do not approve of the changes.
a. Compute the 99% confidence interval for the population proportion of small-business owners who do not approve of the changes (Round your answers to 3 decimal places.)
The Computation of the 99% confidence interval for the population proportion is
CI=(0.3718, 0.4882)
This is further explained below.
What is a confidence interval?Generally, In this section, we will construct the confidence interval for a percentage based on:
[tex]\hat{p} = 0.43 \ and \ 1 - \hat{p}[/tex]
[tex]\hat{p} = 0.57[/tex]
Where p is sample proportion
The Z-score, which has two tails, is at
[tex]\alpha = 1-0.99 \\\\ \alpha= 0.01[/tex]
z= 2.576
n = 480
Alpha is the significance level
z =z-score
n =sample size
The CI is given by the equation:
[tex]\hat{p} \pm ME, where ME = Zcritical * \sqrt{\frac{\hat{p}{(1 - \hat{p})}}{n}} \\\\= 2.576 * \sqrt{\frac{0.43*0.57}{480}}[/tex]
= 0.0582
Where
ME is the margin of error
The Lower Limit = 0.43 - 0.0582 = 0.3718
The Upper Limit = 0.43 + 0.0582 = 0.4882
CI=(0.3718, 0.4882)
The confidence interval for the percentage of people who are opposed to health care reform is 0.3718 and 0.4882
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Define what is meant by the term elasticity of demand
Answer:
The elasticity of demand refers to the degree to which demand responds to a change in an economic factor. Price is the most common economic factor used when determining elasticity. Other factors include income level and substitute availability. Elasticity measures how demand shifts when economic factors change.
Explanation: