Which of the following statements is not true about organizational culture?
a. It represents shared values that define what is important.
b. It is much less important in small organizations.
c. It represents shared social expectations that define appropriate attitudes and behaviors for organizational member.
d. It is important to be aligned with strategy.
b. It is much less important in small organizations.
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KAB Inc., a small retail store, had the following results for May. The budgets for June and July are also given. May(actual) June(budget) July(budget)Sales$42,000 $40,000 $45,000Less cost of goods sold 21,000 20,000 22,500Gross margin 21,000 20,000 22,500Less selling and administrative expenses 20,000 20,000 20,000Net operating income$ 1,000 $ 0 $ 2,500Sales are collected 80% in the month of the sale and the balance in the month following the sale. (There are no bad debts.) The goods that are sold are purchased in the month prior to sale. Suppliers of the goods are paid in the month following the sale. The "selling and administrative expenses" are paid in the month of the sale.The amount of cash collected during June should be:
A. $40,400 B. $40,000 C. $41,000 D. $32,000
In a straight rebuy, a buyer ________
A) wants to obtain the same product from a lower-priced supplier B) reorders something without any modifications C) considers a product or service for the first time D) needs a modified product to suit new requirements E) finds new ways to add value to the same product
A high accounts receivable turnover ratio indicates
A) customers are making payments quickly. B) a large portion of the company's sales are on credit. C) many customers are not paying their receivables. D) the company's sales have increased.
What do you understand by the term ‘social construction of reality?’ Thinking of any organization that you have been a part of, how did it seek to construct your reality?
What will be an ideal response?