MGT 8803

responsive supply chains correct answer: Speed Focused. Innovative Products Efficient Supply Chain correct answer: Cost Focused Good for Functional Products Functional Products correct answer: Predictable demand Low inventory cost long product life low inventory cost low product variety low stockout and obsolescence cost Stockout correct answer: an event that occurs when no inventory is available Innovative Products correct answer: High demand uncertainty short produ...

Shareholders only receive money after what is done? correct answer: suppliers have been paid wages to workers have been paid. interest to bondholders have been paid. taxes have been paid. Capital Budgeting correct answer: The process of determining exactly which assets to invest in and how much to invest; also called capital expenditure decision or capital investment decision. Future Value (FV) correct answer: the amount to which a cash flow or series of cash flows will grow ov...

The management process correct answer: planning, organizing, leading, controlling planning correct answer: setting performance objectives and deciding how to achieve them organizing correct answer: arranging tasks, people, and other resources to accomplish the work leading correct answer: inspiring and motivating workers to work hard to achieve organizational goals controlling correct answer: measuring performance and taking action to ensure desired results strategy steps cor...

A business owned by a single owner correct answer: proprietorship A business owned by more than one owner correct answer: partnership In ___ & ___, the business and the owner(s) are legally one entity - there is unlimited liability and no taxation. correct answer: proprietorship and partnership What does unlimited liability mean? correct answer: The obligations of the business are the same as the obligations of the owners; i.e., a bank can go after the owners if the business default...