Describe how marketing, sales, financial services and customer service departments can use e- business to increase revenues or reduce costs.
What will be an ideal response?
Marketing and sales departments can use Internet marketing strategies such as online ads, associate
programs, viral marketing, mass customization, personalization, blogs and podcasting to increase the
company's visibility. These types of marketing techniques provide an easy way to penetrate a new
geographic territory and extend global reach. Large, small or specialized businesses can use their online
sales sites to sell on a worldwide basis with little extra cost. Accounting departments can use e-business to
help distribute information with greater convenience and richness than is currently available. They can
also offer a variety of online payment methods such as financial cybermediaries, electronic checks,
electronic bill presentment and payment, electronic data interchange, financial EDI and digital wallets.
Customer service departments can use e-business to enable customers to help themselves with the
communications capability of a traditional customer response system available 24x7 over the Internet.
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Contingency theory does not subscribe to the theory of perfection in leaders, but instead seeks a consciousness of the leader and followers and an analysis of the situation.
a. True b. False
A firm is trying to determine if it should launch a product. The product has an expected life of three years. It will bring in cash flows of $10,000 in each of the three years. The company estimates that it will invest $20,000 in product research and development costs. What is the estimated IRR for this product? Choose the IRR value that is closest to the amount invested.
a. 20% b. 21% c. 22% d. 23%
Ego Manufacturing produces a pesticide chemical and uses process costing There are three processing departments-Mixing, Refining, and Packaging. On January 1, the Refining Department had 2,000 gallons of partially processed product in production. During January, 33,000 gallons were transferred in from the Mixing Department, and 29,000 gallons were completed and transferred out. At the end of the month, there were 6,000 gallons of partially processed product remaining in the Refining Department. See additional details below.
Refining Department, beginning balance at January 1 Quantity: 2,000 units (partially processed) Cost: $15,600 of costs transferred in $4,500 of materials cost $1,000 of conversion cost 21,100 total account balance Costs added during January Cost of units transferred in $222,400 Direct materials cost $93,750 Conversion cost $48,000 Refining Department, ending balance at January 31 Quantity: 6,000 units (partially processed) Percent complete for materials cost: 90% Percent complete for conversion cost: 75% What was the cost per equivalent unit with respect to conversion costs for the Refining Department in the month of January? (Use the weighted-average method, and round your calculations to the nearest cent.) A) $1.42 B) $1.46 C) $1.40 D) $8.17
Many consumers now ask other consumers for advice on products rather than consulting manufacturers or retailers. What makes it easier for them to do this?
a. modern mobile phones have internet connections and more sophisticated cameras b. new European regulations mean that manufacturers no longer have exclusive rights to give advice and guidance about their products c. the Consumers’ Association has run a number of conferences and set up an advice share network d. government has encouraged manufacturers to delegate this responsibility to other consumers in order to save costs e. social networking sites, blogs and online reviews have made it easier and cheaper for consumers to self-publish and communicate