Explain how CAD can contribute to a firm's move toward world-class status
Engineers use computer-aided design (CAD) to design better products faster. CAD systems increase productivity, improve accuracy and allow firms to be more responsive to market demands. Product design has been revolutionized through CAD technology. Advanced CAD systems can design both product and process simultaneously.
Thus, aided by CAD, management can evaluate the technical feasibility of the product and determine its "manufacturability.". CAD technology greatly shortens the time frame between initial and final design. This allows firms to adjust their production quickly to changes in market demand. It also allows them to respond to customer requests for unique products. The CAD system's external communication link permits the world-class manufacturer to share its product design specifications with its vendors and customers. This communications link also allows the world-class manufacturer to receive product design specifications electronically from its customers and suppliers for its review.
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Describe what the six distinct traits of professionalism are
What will be an ideal response?
If TRX Inc's sales total $150 million, and the cost of goods sold is $50 million, calculate the percent gross profit for TRX
A) 33.3% B) 25% C) 66.6% D) 15% E) 75%
A simple calculation based on GDP, total population, and income distribution may indicate that a country is not an adequate market.
Answer the following statement true (T) or false (F)
The intensity of rivalry among competing sellers does not depend on whether
A. industry conditions attract industry members to use price cuts or other competitive weapons to boost total sales volume and market share. B. strong companies outside the industry have acquired weak firms in the industry and are launching aggressive moves to transform the acquired companies into strong market contenders. C. one or two rivals have particularly powerful and successful strategies to grow the business, attract and retain buyers, and develop a sustained competitive advantage. D. the industry has more than two strong driving forces and whether the industry has more than two diverse and capable strategic groups. E. competitors are diverse in terms of long-term directions, objectives, strategies, and countries of origin.