What is the difference between a product line and product mix? Why is this important?
What will be an ideal response?
A product line is a group of related products or services that are offered by an organization. The product mix is the collection of all the goods and services that are offered by an organization. The wider the product mix the more diverse the offerings of the firm. This can be beneficial in terms of minimizing the risk of a certain product line going under. On the other hand, a firm with very limited resources may be compelled to offer either a narrow product mix or a shallow product line. Risk, utilization of scarce resources, expansion goals, adapting to changes in the economy, technology, or consumer needs, are all relevant issues when determining an appropriate product line and product mix.
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________ is a class of procedures for representing perceptions and preferences of respondents spatially by means of a visual display
A) Conjoint analysis B) Regression analysis C) Hybrid conjoint analysis D) Multidimensional scaling (MDS)
Which of the following is unlikely to be classified as a fixed cost with respect to the number of units produced and sold?
A. Production supplies. B. Property taxes on a headquarters building. C. Legal department salaries. D. Cost of leasing the company's mainframe computer.
Wiswell Inc. reported the following results from last year's operations: Sales$15,200,000Variable expenses 9,270,000Contribution margin 5,930,000Fixed expenses 5,018,000Net operating income$912,000?The average operating assets were $8,000,000.?At the beginning of this year, the company has a $900,000 investment opportunity that would involve sales of $2,070,000, a contribution margin ratio of 30% of sales, and fixed expenses of $538,200. The company's minimum required rate of return is 10%. If the company pursues the investment opportunity, this year's combined residual income for the entire company will be closest to:
A. $104,800 B. ($19,800) C. $994,800 D. $925,600
Hunter & Associates started as a small three-person firm. It has evolved to a 58-person company, managing over 100 projects for multiple clients. The managing team recognizes that the company needs to develop a "sense of itself," and so focuses on defining the organizational culture.Identify and discuss the four functions of organizational culture. Use an example of a real organization to illustrate each of these functions.
What will be an ideal response?