According to research conducted by Collins and Porras, which of the following is a common practice that explains the success of visionary companies?
A. An attitude that justifies adopting any means as long as ends are met
B. Aggressive marketing techniques that ensure profitability
C. A great emphasis on essential and enduring tenets
D. A commitment to following bureaucratic norms
Answer: C
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What are primary and probing questions? How are they used in interviewing? Provide one example of each to support your answer.
What will be an ideal response?
_________________________ concerns a firm's ability to make interest and principal payments on borrowings as they become due
Fill in the blank(s) with correct word
Phann Corporation manufactures one product. It does not maintain any beginning or ending Work in Process inventories. The company uses a standard cost system in which inventories are recorded at their standard costs and any variances are closed directly to Cost of Goods Sold. There is no variable manufacturing overhead. The standard cost card for the company's only product is as follows:InputsStandard Quantityor HoursStandard Priceor RateStandard CostDirect materials2.8kilos$8.50per kilo$23.80Direct labor0.50hours$22.00per hour 11.00Fixed manufacturing overhead0.50hours$12.00per hour 6.00Total standard cost per unit $40.80?The standard fixed manufacturing overhead rate was based on budgeted fixed manufacturing overhead of $90,000 and budgeted activity of 7,500 hours.During
the year, the company completed the following transactions:a. Purchased 59,000 kilos of raw material at a price of $9.20 per kilo.b. Used 51,340 kilos of the raw material to produce 18,300 units of work in process.c. Assigned direct labor costs to work in process. The direct labor workers (who were paid in cash) worked 8,850 hours at an average cost of $23.70 per hour.d. Applied fixed overhead to the 18,300 units in work in process inventory using the predetermined overhead rate multiplied by the number of direct labor-hours allowed. Actual fixed overhead costs for the year were $79,400. Of this total, $22,400 related to items such as insurance, utilities, and indirect labor salaries that were all paid in cash and $57,000 related to depreciation of manufacturing equipment.e. Completed and transferred 18,300 units from work in process to finished goods.Assume that all transactions are recorded on the below worksheet, which is similar to the worksheet shown in your text except that it has been divided into two parts so that it fits on one page. The beginning balances in each of the accounts have been given. PP&E (net) stands for Property, Plant, and Equipment net of depreciation.?CashRaw MaterialsWork in ProcessFinished GoodsPP&E (net)?1/1$1,070,000$28,560$0$61,200$523,500=a.?????=b.?????=c.?????=d.?????=e.?????=?Materials Price VarianceMaterials Quantity VarianceLabor Rate VarianceLabor Efficiency VarianceFOH Budget VarianceFOH Volume VarianceRetained Earnings1/1$0$0$0$0$0$0$1,683,260a.???????b.???????c.???????d.???????e.???????When the work in process is completed and transferred to finished goods in transaction (e) above, the Finished Goods inventory account will increase (decrease) by: A. ($771,325) B. $746,640 C. ($746,640) D. $771,325
Explain the use of Letters of Credit (LC).
What will be an ideal response?