Many companies recognize that major benefits can be enjoyed when outsourcing arrangements extend across multiple projects and are long term. Identify and describe three advantages for establishing long-term partnerships.
Fill in the blank(s) with the appropriate word(s).
Answer will vary
(1) Reduced administration cost: Costs associated with bidding and selecting a contractor are eliminated. (2) More efficient utilization of resources: Owners are able to concentrate their workforce on core business. (3) Improved communication: As partners gain experience with each other, they develop a common language and perspective. (4) Improved innovation: The partners are able to discuss innovation and associated risks in a more open manner and share risks and rewards fairly. (5) Improved performance: Over time partners are able to apply lessons learned from previous projects to current projects.
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Five skid steers costing $20,000 each were purchased by the Biggs Excavating Company at the beginning of 2016. Biggs capitalized the skid steers in a single asset account and depreciates them using the group method. Each skid steer was expected to have a residual value of $6,000 in four years. At the end of 2019, Biggs sold one skid steer for $8,000. For what amount is accumulated depreciation
debited in the journal entry to record the disposal of that skid steer? A) $14,000 B) $12,000 C) $10,500 D) $20,000
The VALS system seeks to explain why and how consumers make purchase decisions. Consumers motivated by ideals are guided by knowledge and principle. Explain the difference between Thinkers and Believers.
What will be an ideal response?
You will make an initial presentation to the board of directors of an international company. All members of the board are competent speakers of English as a second language. You should
a. enunciate precisely and speak more slowly than normal. b. speak as you normally would in your own company setting. c. use humor generously to break the ice. d. eliminate body language because it may be offensive.
A business formula, information compilation, or device that provides an advantage over competitors that do not have it is known as a: A)competitive advantage
B)strategic advantage. C)trade secret. D)restraint of trade.