Sales returns and allowances increasing by a greater amount than sales revenues can cause confusion when calculating an increase in sales revenue and retained earnings.
Describe sales.An exchange of goods or services for a fixed sum of money is referred to as a sale. To put it another way, a sale is any action that involves giving the buyer possession of a good or service in return for money.
Why is it important to have sales?Sales have a significant influence on a customer's level of brand loyalty and faith. The two key variables influencing a customer's decision to refer your business to a friend or family member or to write a positive online review of your goods or services are trust and loyalty.
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informational sites like wikipedia.org, crunchbase, and publicrecords are held responsible for libelous or inaccurate comments on their sites posted by others will often create profiles about a business are likely the first places negative content is posted online all of the above
Informational sites like Wikipedia create profiles about a business and are likely the first locations poor content is posted online all of the above are every now and then called banner advertisements.
A banner, or advert, is a form of online advertising delivered by means of an advert server, like commercials or Microsoft advertisements.
Banners are innovative rectangular ads that are shown alongside the top, aspect, or bottom of a website in hopes that it's going to drive visitors to the advertiser's proprietary online.
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Different points along the budget constraint line represent different combinations of the goods that
The consumer is spending all of their income at the spots represented by the budget constraint.
Quizlet: What does a budgetary limitation show?Budget restraint: Illustrates the maximum amount of consumption "bundles" a consumer is able to purchase. the budgetary restriction indicate the different product pairings that a buyer can afford based on his or her income and the cost of the two products.
What are the uses of a budget constraint line?Economists examine customers can afford to buy in order to comprehend households make decisions. To achieve this, we must map out the consumer's financial restrictions. The quantity of one good is measured on the horizontal axis while the quantity of the other good is measured on the vertical axis when there is a budgetary restriction.
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A company's history indicates that 20% of its sales are for cash and the rest are on credit. Collections on credit sales are 20% in the month of the sale, 50% in the next month, 25% the following month, and 5% is uncollectible. Projected sales for December, January, and February are $60,000, $85,000 and $95,000, respectively. The February expected cash receipts from all current and prior credit sales is:
The February expected cash receipts from all current and prior credit sales is: 61200.
Cash receipts from December sales 12000 =60000*80%*25%
Cash receipts from January sales 34000 =85000*80%*50%
Cash receipts from February sales 15200 =95000*80%*20%
February expected cash receipts from all
current and prior credit sales 61200
credit sales are purchases made by means of customers for which payment is behind schedule. delayed payments allow clients to generate cash with the bought items, that is then used to pay back the vendor. hence, an affordable payment delay permits clients to make additional purchases.
A credit score income magazine entry is a sort of accounting access that is used to record the sale of merchandise on credit score. The access is made by means of debiting the accounts Receivable and crediting the income account. the amount of the sale is usually recorded within the magazine as nicely. despite the fact that the client will pay in coins at a later date, it is nonetheless not a coins sale.
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Peer review examples
Peer review is the practice of assessing contributions to a journal for academic purposes. A group of reviewers in the same field determines whether to approve each manuscript for publication using specific criteria.
Example of peer review.Peer review on influence of phone use on sleep :
According to studies, kids in the US sleep less now than they did ten years ago (Johnson, 2019). In 2021, youths slept for an average of 6 hours per night, down from 8 hours in 2011. Increased worry, altered diets, and increased phone use are just a few of the possible factors mentioned by Johnson. The new study focuses on the impact that using a phone before bed has on how many hours of sleep teens obtain.
Using social media sites, a sample of 300 teenagers was gathered for this study. Each kid was given permission to use their phone normally for the first week in order to establish a baseline.
Dividing the samples into 3 groups :
1. Group 1 of which was prohibited from using their phones before night.
2. Before going to bed, Group 2 spent an hour on their phones.
3. Before going to bed, Group 3 utilized their phones for three hours.
To account for differences in participants' bedtimes, we encouraged everyone to retire at 10 p.m. Their Fitbit indicated how many hours of sleep they had gotten in the morning. For a week, they independently tracked these data.
Both Group 1 and Group 2 and Group 1 and Group 3 were compared using two separate T tests. The results of the first t test indicated that there was no difference between Groups 1 and 2 in terms of the number of hours worked (M = 7.8, SD = 0.6, and p >.05). The average difference between Group 1 (M = 7.8, SD = 0.6) and Group 3 (M = 6.1, SD = 1.5) was significantly different (p .01) according to the results of the second t test.
According to this, teens who use their phones for more than an hour before bedtime get less sleep than those who use them for 0 to 1 hours.
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Gina Dare, who wants to be a millionaire, plans to retire at the end of 40 years. Gina's plan is to invest her money by depositing into an IRA at the end of every year. What is the amount that she needs to deposit annually in order to accumulate $1,000,000? Assume that the account will earn an annual rate of 11.5%. Round off to the nearest $1
Therefore, the amount of deposit required to be invested annually by Gina Dare is $3,289.47.
Who is a Millionaire?
A person is considered a millionaire if their wealth or net worth is at least one million dollars. Being a millionaire can have a certain level of prestige depending on the currency. In nations that employ the short scale number naming system, a person is considered to be a billionaire if they own at least 1,000 million dollars, euros, or the local currency.
Many national currencies currently have low unit values or had in the past, often as a result of previous inflation. Being a millionaire in other currencies is obviously more simpler and less significant; as a result, in Hong Kong or Taiwan, for example, a millionaire (in the native currency), may just be averagely affluent, or perhaps less wealthy than average.
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suppose an organic salad shop attempts to increase demand for its food by differentiating it as a healthy alternative to fast-food hamburgers. This is an example of _______ advertising
comparative
Health-focused (comparative)
Organic FoodFood that has been produced using organic farming practices is known as organic food. Although requirements differ from country to country, organic farming includes techniques that recycle resources, advance ecological balance, and preserve biological diversity.
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The Forest Organization successfully manages its prices by creating a pricing infrastructure within the company. Forest managers feel that creating the right pricing strategy is important. The Forest Organization does all of the following EXCEPT _______.
use traditional tools and systems to maintain current pricing decisions
The Forest Organization successfully manages its prices by creating a pricing infrastructure within the company. Forest managers feel that creating the right pricing strategy is important. The Forest Organization does all of the following EXCEPT use traditional tools and systems to maintain current pricing decisions.
What is the Forest organization?Forest Organization is the systematic classification and structuring of forest lands with a view to routine management.
Forest organization's objectives:Large tracts of forest make up the area's substantial size. The area could occasionally reach 50,000 hectares. It is necessary to divide up a space this size. This suggests that the division of the land into smaller pieces is the goal of forest organization.It is inevitable for a forest area to be divided since different places may have varying productive capacities.Forest areas need to be organized because they are spread out and subject to different social pressures.Read more on Forest organization here:https://brainly.com/question/13218439
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GDP per capita in country A is 1/10 of that in country B. Country A grows at 4.3% per year, while country B 1% per year. In 50 years, roughly
country B will still be ten times as rich as country A
country A will be as rich as country B
country A will be twice as rich as country B
country B will be only twice as rich as country A
Gross Domestic Product (GDP) per capita indicates a country's GDP divided via its complete population.
The table under lists nations in the world ranked with the aid of GDP at Purchasing Power Parity (PPP) per capita, along with the Nominal GDP per capita.
How Do You Calculate GDP Per Capita?The system to calculate GDP per capita is a country's gross domestic product divided via its population.
For instance in a country, Real GDP for the yr 2018 is $ 10 trillion, and at some point of the equal year, the country's whole population is 250 million, i.e., there are 250 million humans in the us of a for the duration of the 12 months 2018
GDP is commonly calculated through the country wide statistical employer of the u . s . a . following the international standard.
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Nigeria is an oil-exporting nation, and it has adopted the policies that are designed to encourage the development of its oil industry. However Russia, on the other hand, has adopted policies that are more focused on diversifying its economy and building up its manufacturing and services sectors.
Nigeria and Russia have adopted different policies in response to global economic forces due to their different economic structures and the different goals they have for their economies. As a result, the policies adopted by the two countries reflect their different economic priorities.
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Demand deposits are balances in bank accounts that depositors can access by writing a check or using a debit card. a. Trueb. False
A demand deposit is a bank account balance that the depositor can access by writing a check or using a debit card is true.
A demand deposit is a money that is deposited in your bank account and can be withdrawn whenever you need it. Depositors typically use demand deposits to pay their daily expenses. For account funds, banks or financial institutions may pay low or no interest on deposits.
The maximum amount an individual can withdraw is up to a certain daily limit or account balance limit. Common examples of demand deposits are amounts in checking or savings accounts. Please note that demand deposits are different from term deposits. Term deposits require the depositor to wait a certain period of time before making a withdrawal.
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a company has preferred stock that can be sold for $21.25 per share. the preferred stock pays an annual dividend of 3.5% based on a par value of $100. flotation costs associated with the sale of preferred stock equal $1.25 per share. the company's marginal tax rate is 35%. therefore, the cost of preferred stock is
A company has preferred stock that can be sold for $21 per share. The preferred stock pays an annual dividend of 3.5% based on a par value of $100. Flotation costs associated with the sale of preferred stock equal $1.25 per share. The company's marginal tax rate is 35%. Therefore, the cost of preferred stock is 17.72%.
What is flotation cost?When a corporation issues new shares, it must pay fees known as flotation expenses. New equity is more expensive than existing equity due to flotation costs. Analysts contend that in order to avoid permanently overestimating the cost of capital, flotation costs should be subtracted from future cash flows as a one-time charge. The overall expense a firm incurs while selling its securities to the general public is known as the flotation cost. It results from costs including registration, legal, and underwriting fees. Legal fees, certificate printing fees, registration fees, stock exchange listing fees, and underwriting fees are some of the expenses related to flotation.
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TRUE/FALSE. with uncertainty surrounding the outcome of the doha round of trade negotiations, countries (large and small) are clamoring for bilateral or regional trade agreements to meet their specific agendas causing economists to be concerned about the prospects of creating a truly open global economic system that benefits all countries.
The givens statement is true because even with uncertainty surrounding the result of the Doha round of trade negotiations, economists are concerned about the prospects of making a truly open global economic system that benefits all of the countries.
The Doha Round is the most recent round of trade negotiations among the WTO member countries. Its objective is to achieve major reform of the international trading system by introducing lower trade barriers and revising trade rules. The work program covers about 20 areas of trade with the fundamental aim to improve the trading prospects of developing countries.
Even with the uncertainty surrounding the result of the Doha round of trade negotiations, countries (small and large) are clamoring for bilateral or regional trade agreements to meet their particular agendas causing economists to be concerned about the prospects of making a truly open global economic system that benefits all of the countries. so the statement given is true.
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Adidas runs a print media campaign that pledges to donate 10 percent of its profits to poor orphans in Africa in
order to enhance the firm's image. This is an example of advertising.
O a. institutional
O b. immediate-response
O c. primary-demand
O d. comparative
O e. brand
Adidas undertakes a print media campaign to improve the company's reputation, promising to contribute 10% of its profits to underprivileged orphans in Africa. This is an illustration of brand advertising. Hence, option E is correct.
What is the meaning of a print media campaign?In order to reach consumers, print media campaign makes use of hard copy printed mediums including newspapers, billboards, and magazines. The print media is one of the more traditional forms of product promotion, according to the advertising sector.
Therefore, Option E is correct.
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if the government removes a 1 tax on sellers of gasoline and imposes the same 1 tax on buyers of gasoline g
The price that consumers pay won't change if the government keeps its $1 tax on gasoline sellers while eliminating it from fuel buyers.
Who pays when a tax is levied against product sellers?The price that purchasers pay increases when a tax is imposed on the good seller, while the price that sellers are paid decreases. The market's size is diminished when a tax is imposed on a product's vendors.
What occurs when a tax is levied against vendors?The tax may be levied against either the provider or the buyer. If the customer pays a price for the good and then the tax on top of that, it is imposed upon the buyer. The price charged to the buyer includes the tax if the tax is levied against the supplier.
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early entrants to a market that are able to capture sizable revenue, awareness and generate business that ties customers into their products or services are capitalizing on .
Early entrants to a market that are able to capture sizable revenue, awareness and generate business that ties customers into their products or services are capitalizing on first-mover advantages. (Option C)
When a later entry can avoid costs that an early entry must suffer, to what do we refer?When entering a foreign market, having an advantage over other global corporations might have disadvantages. For this, the phrase "first-mover disadvantages" is frequently used. 5 Due to these drawbacks, a later arrival may be able to avoid pioneering costs, whereas an early entry may be required to make them.
What expression is used when a company enters a market ahead of its competitors?A first mover is a service or product that gains a competitive advantage or edge by being the first to market with a good or service. When a company enters a market first, it typically has the advantage of developing strong brand recognition and consumer loyalty before competitors do so.
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Even though both investors earned a 7% rate of return, they still have to pay their management fees. You can find out an investor’s effective rate of return by subtracting the fee percentage from the rate of return percentage.
What is Alizeh’s effective rate of return?
What is Christina’s effective rate of return?
The total value of Alizeh’s mutual fund is $10,570.
What mutual fund means?A mutual fund is a collection of funds that is professionally managed by a Fund Manager. It is a trust that takes money from many participants who have similar investing goals and invests it in stocks, bonds, money market instruments, and/or other securities.How is it calculated?The given data is,
Investment in mutual fund = $10,000
Annual expense ratio = 1.3%
Rate of return on investment = 7%
Annual return on investment = $700 ($10,000 × 7%)
Annual fees for her actively managed mutual fund = $130 ($10,000× 1.3%) At the end of the year, the total value (after fees) of Alizeh's mutual fund:
Investment in mutual fund = $10,000
Annual return on investment = $700
Annual fees for mutual fund = ($130)
Total value =$10,570
The total value of Alizeh’s mutual fund is $10,570.
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The correct questions is Alizeh invests $10,000 in an actively managed mutual fund that has an annual expense ratio of 1.3%. The investment earns a 7% rate of return.
The ________ concept specifically focuses on the future welfare of customers, but not on future company needs.
A) societal marketing
B) strategic planning
C) sustainable marketing
D) marketing
E) selling
A
The societal marketing concept specifically focuses on the future welfare of customers, but not on future company needs. The appropriate response is option A.
What is societal marketing ?According to the marketing principle known as "societal responsibility of marketing," a business should also take into account the long-term interests of society when making marketing decisions.
Marketing that has a social component or incorporates non-economic factors is known as "societal marketing." Societal marketing "cares for the long-term interests of society." It is about "the immediate advantages for the organization and the subsequent advantages for the community."
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Many contemporary companies are seeking connectors to assist with their public relations efforts. Connectors are people who:
A. are hired by companies to spread goodwill about their brand and their products.
B. are paid to go door-to-door to offer samples and product information.
C. like to share new information with their large social networks.
D. act as intermediaries and sell products to consumers at competitive prices.
Connectors are people who like to share new information with their large social networks.
What does "company" mean?The word "company" in English derives from the Old French phrase "compagnie," which was first used in the Salic code and meant "one who eats bread with you." It was first used in 1150 to refer to a "society, friendship, intimacy, or group of troops."
What distinguishes a firm from a business?A company is completely liable. This implies that creditors may bring personal claims against owners. A business, on the other hand, is only partially liable. Directors or shareholders are not personally liable if it is sued by creditors.
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Question
Which term is incorrectly matched with a definition?
Responses
sample size – the number of people polled
random sampling – using part of the population to measure the whole population
exit poll – a pool taken at a voting place
straw polling – using a sample that does not match the population
The one incorrectly matched is straw polling---- Use samples that are not representative of the population.
A straw vote is the process of seeking public opinion on a particular issue, but in an informal ballot. Although straw surveys are informal, the samples we use always match the official survey population.
What is straw voting?Non-scientific polls used to measure public opinion on various issues and policies. sample. A subset of the total population selected for study for the purpose of predicting or inferring opinions. A straw vote, straw ballot, or straw vote is an ad-hoc or informal vote.
Used to indicate public opinion on a particular issue, it helps politicians know the majority's opinion and decide what to say to win the vote, allows interaction between the groups.
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At the BMW plant in Spartanburg, South Carolina, rather than use a typical order-to-delivery process, it has suppliers deliver parts every four hours when the plant is in operation. BMW uses a(n) ______ inventory control system. Select one:
A. lead time
B. pick ticket
C. UPC
D. cross-docking
E. just-in-time (JIT)
BMW uses a just-in-time (JIT) inventory control system. Option E.
Cross-docking is when a seller ships pre-packaged goods in the quantity required for each transaction. Once the goods arrive at the distribution center the goods are moved to the staging area and shipped to the designated stores.
Distribution centers are designed to maximize efficiency in receiving processing storing and delivering goods. This means less wasted money on temporary storage out of stock or dealing with customers with late or incomplete orders. A full-line discount store is a retailer that offers a wide variety of goods, limited services, and low prices. A centralized distribution strategy aims to get the product to as many outlets as possible.
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Oceanic Company has 15,000 shares of cumulative preferred 2% stock, $50 par and 50,000 shares of $5 par common stock. The following amounts were distributed as dividends:
20Y1 $22,500
20Y2 7,500
20Y3 45,000
Need help understanding this problem!
The dividends per share for the cumulative preferred stock and the common stock is :
20Y1 20Y2 20Y3
Dividend per share:
Preferred Stock $1 $0.50 $1.50
Common Stock $0.15 $0 $0.45
What is dividend per share ?Dividend per share is the sum of declared dividends issued by a company for every ordinary share outstanding . It is calculated by dividing the total dividend by the number of shares in the issue for each class of stock.
However, the dividend is distributed to preferred stockholders first, followed by common stockholders.
In any year where the dividend is insufficient to cover the cumulative preferred stockholders, whatever is left over is distributed to the preferred stockholders, leaving common stockholders with nothing.
If there are sufficient dividends, the cumulative preferred dividend arrears must be settled in addition to the fixed dividend for the year
The dividend per share is calculated as:-
Cumulative Preferred 2% Stock = 15,000 shares
Par value = $50
Value of Cumulative preferred stock, 2% stock = $750,000 (15,000 x $50)
Fixed preferred dividend each year = $15,000
Common Stock = 50,000 shares
Dividend Distribution Preferred Common Stock
20Y1 $22,500 $15,000 $7,500 ($22,500-$15,000)
Dividend per share $1 $0.15 ($7,500/50,000)
20Y2 7,500 $7,500 $0
Dividend per share $0.50 $0
20Y3 45,000 $22,500 $22,500 ($45,000 - $22,500)
Dividend per share $1.50 $0.45
Preferred stock dividend for 20Y3 = $22,500 ($7,500 + $15,000)
Therefore, the dividend per share for Oceanic Company is calculated.
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labor historians generally consider the knights of labor (k of l), established in 1869, as the first truly national trade union. True or False ?
True. Labor historians generally consider the Knights of Labor (K of L), established in 1869, as the first truly national trade union.
What is the Knights of Labor?
In Philadelphia in 1869, a group of tailors formed the Knights of Labor. From the mid- to late-1800s, it expanded in size and significance during the early stages of the American labor movement, and it was crucial to the success of the Great Railroad Strike of 1877.
On Thanksgiving Day 1869 in Philadelphia, Uriah S. Stephens, a progenitor of early Quaker settlers in New Jersey, established the Knights of Labor. Stephens was forced to serve as an indentured servant in order to receive free training as an apprentice mechanic after his family lost everything in the late 1830s financial panic and depression.
But during the next ten years, the Knights grew throughout the country, drawing people from many industries.
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Dividends received are classified as operating activities cash flows, while dividends paid are classified as financing activities cash flows because dividends received increase _____, and dividends paid decrease ____.
net income; retained earnings
Given that dividend payments reduce retained earnings and dividend payments boost net income, dividends received are categorized as operating activities cash flows.
What do dividends actually mean?A dividend is a gift that a business gives to its shareholders, whether it be in the form of money or something else. Dividends can be paid out in a variety of forms, including stock dividends, cash payments, and other formats. A corporation's board of directors determines its dividend, which requires shareholder approval.
Is it a good idea to pay dividends?Many investors like the consistent income provided by dividends, so they are more likely to purchase the business's stock. A dividend payment is also seen by investors as an indication of a company's success and that management has high expectations for future profits, which
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you decide to take $800 out of your piggy bank at home and place it in the bank. if the reserve requirement is 5 percent, how much can your $800 increase the amount of money in the economy? instructions: enter your answer as a whole number. $ 760
If you decide to take $800 out of your piggy bank at home and place it in the bank. if the reserve requirement is 5 percent, The amount your $800 can the amount of money in the economy is $15,200.
How to find the amount of money?Firs step is to find the reserve requirement
Reserve requirement = (800×0.05)
Reserve requirement = 40
Second step is to find the amount of money
Amount of money = (800-40) × 800/40
Amount of money =760 ×20
Amount of money = $15,200
Therefore the amount of money is $15,200.
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suppose a perfectly competitive firm's marginal revenue is $10 and its marginal cost is $11. under these circumstances the firm:
Suppose that JB Cos. has a capital structure of 78 percent equity, 22 percent debt, and that its before-tax cost of debt is 12 percent while its cost of equity is 16 percent. Assume the appropriate weighted-average tax rate is 21 percent and JB estimates that they can make full use of the interest tax shield.
What will be JB’s WACC?
Answer:
GIVEN:
We (weight of equity) = 0.78
ke (cost of equity) = 16% or 0.16
Wd (weight of debt) = .0.22
kd (cost of debt) = 0.12
t (tax rate) = 0.21
WACC = [(We x ke) + (Wd x kd) (1-t)]
WACC = [(0.78)(0.16) + (0.22)(0.12) (1-0.21)
]
= [0.1248 + (0.22 * 0.12 * 0.79)]
= 0.1248 + 0.0208= 0.1456
= 14.56%
Explanation: Referred to the solution above.
groups representing consumer, environmental, or other interests can be identified as project stakeholders.
Answer:
True, groups representing consumer, environmental, or other interests can be identified as project stakeholders.
Explanation:
Project stakeholdersAnyone actively involved in the project, or whose fortunes may be affected favorably or unfavorably as a result of project operation or project completion, is considered a project stockholder.
The work of each interest group was therefore decided by the project stakeholder.
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in the united states, food insecurity is caused by the lack of enough food produced to feed all the people who live in poverty. T/F
In the U.S., food insecurity is caused by the lack of enough food produced to feed all the individuals who live in poverty. This statement is false.
The USDA describes food insecurity as a lack of consistent access to enough food for every individual in a household to live an active, healthy life. This can be a temporary circumstance for a family or can last a long time. Food insecurity is one way to measure how many people cannot afford food.
In the U.S. more than 34 million people experience food insecurity. The reason for this is not that there exists a lack of enough food production rather in the U.S food security is a result of people do not have adequate access to food resources.
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if a person cannot provide bail on his or her own or cannot pay a bondsman, the accused can possibly be released
The Californian Supreme Court determined that defendants who are unable to post bail must be freed unless there is strong proof that keeping them behind bars is required for victim or public safety.
Victim safety: what is it?A person is prohibited from bothering, torturing, scaring, retaliating against, or interfering with any eyewitness or victims of a crime by this necessary protection order. The order is in effect up until the case's conclusion, the end of the sentence, or the recipient's acquittal.
What are the fundamental tenets of victim care?The treatment of victims should be kind and honoring of their human dignity. They have the right to swift reparation for the injury they have experienced, as stipulated by national law, and access to the legal systems.
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Companies must continue to grow and seek out opportunities in order to sustain business. Total organizational change affects the thinking and behavior of everyone in the organization. It can enhance the organization's culture and success, and can be sustained over time.
Change is unpredictable and constant. Managing change is a fluid process with many variables impacting change; a shift in the economy, competitors entering or leaving the industry or the community, and emerging markets all require a company to change. Because companies introduce new changes constantly, getting employees to commit to changes can be challenging but is necessary for successful change. Management must question and carefully select those changes worth undertaking. Additionally, in order to minimize employees' resistance to change, management must outline how the change will benefit the company and its employees and then clearly communicate the benefits thoroughly, honestly, and frequently.
The option of orders to sustain business are, Anchoring new approaches in culture; Generating short-term wins; Creating the guiding coalition; Establishing a sense of urgency; Consolidating gains and producing more change; broad-based action; Communicating the change vision; Developing a vision and strategy.
What is a business?
The activity of running a business involves creating, purchasing, and reselling commodities in order to support one's lifestyle (such as goods and services). Furthermore, it refers to "any activity or enterprise undertaken for profit." The owner of the business is responsible and liable for any obligations made by the business since despite having a business name, they are one and the same. If the company accrues debts, the creditors may seize the owner's personal property. Corporate tax rates cannot be applied to a firm structure. All profits earned by the business are subject to personal taxation by the owner. The phrase is frequently used informally to refer to a business, such as a corporation or cooperative. However, attorneys and public officials do not use it in this way. Unlike sole proprietorships and partnerships, corporations are a distinct legal organisation that offers limited responsibility to its owners/members and is subject to corporate tax rates. Although establishing a company is more difficult and expensive, the owners/members are better protected and receive more benefits.
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Companies must continue to grow and seek out opportunities in order to sustain business. Total organizational change affects the thinking and behavior of everyone in the organization. It can enhance the organization's culture and success, and can be sustained over time.
Change is unpredictable and constant. Managing change is a fluid process with many variables impacting change; a shift in the economy, competitors entering or leaving the industry or the community, and emerging markets all require a company to change. Because companies introduce new changes constantly, getting employees to commit to changes can be challenging but is necessary for successful change. Management must question and carefully select those changes worth undertaking. Additionally, in order to minimize employees' resistance to change, management must outline how the change will benefit the company and its employees and then clearly communicate the benefits thoroughly, honestly, and frequently.