The ________________ refers to the level of diversity of the markets and customers, which must be addressed by the firm.
a. Level of industry concentration
b. Environmental hostility
c. Environmental dynamism
d. Level of environmental heterogeneity
d. Level of environmental heterogeneity
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In 2016, Morton Cosold 150 hot air balloons at $4,000 each. The balloons carry a 5-year warranty for defects. Morton estimates that repair costs will average 4% of the total selling price. The estimated warranty liability at the beginning of the year was $14,000 . $20,000 in claims was actually incurred during the year to honor their warranty. What was the warranty expense for 2016?
a. $10,000 b. $18,000 c. $20,000 d. $24,000
The approach to cost reduction that studies whether components can be redesigned or standardized or made by cheaper methods of production without adversely impacting product performance is termed as ________
A) maintenance, repair, and operating (MRO) B) product value analysis (PVA) C) vendor managed inventories (VMI) D) supplier performance management (SPM) E) supplier added value effort (SAVE)
Which of the following is an approach advocated while teaching ethics?
A. Teachers should understand that their role is only to tell the right answers to their students. B. Teachers should teach ethical dogma to a passive audience. C. Teachers should consider acceptance of customary norms as an adequate ethical perspective. D. Teachers should challenge students to think for themselves.
A person who fails to meet output standards could still have an efficiency measurement of more than 100%
Indicate whether the statement is true or false.