You have been asked to compile a summary of your company's current competitive position for a specific product line. The report will be used as a key input to business and product goal setting for the coming year. Define the four factors you will need to consider to ensure the usefulness of the report and provide an example of how you could incorporate each factor.
What will be an ideal response?
Four factors determine the usefulness of information to a manager: quality, timeliness, completeness, and relevance. Student examples will vary, but, for example, timeliness would be satisfied by producing the report prior to a scheduled planning kick-off meeting. Further, relevance could be satisfied but focusing the data only on the product in question rather than branching into other product lines. Quality needs to be satisfied by ensure the information is both accurate and reliable. It also needs to be complete and give as much information as possible, despite the unknowns.
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Indicate whether the statement is true or false
A corporation declared and issued a 20% stock dividend on October 1. The following information was available immediately prior to the dividend: Retained earnings$810,000?Shares issued and outstanding 66,000?Market value per share$21?Par value per share$5?The amount that contributed capital will increase (decrease) as a result of recording this stock dividend is:
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Indicate whether the statement is true or false