Explain why different types of organizations will have different sets of budgets
We may think of the set of budgets as the plan for producing outputs and acquiring inputs. As different organizations have different inputs and outputs, we would naturally expect them to have different budgets. For example, a retailing firm would find no need for a production budget because it does not manufacture anything. On the other hand, the need for a production budget in a manufacturing organization is obvious. Likewise, governmental organizations will have budgets that are different than private organizations.
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Steve buys men's dress shirts for Martin's, a clothing retailer. At a recent trade show, he took the opportunity to see a few new vendors. During one meeting, a vendor proposed a ticket to a high-profile college football game. Steve graciously declined because he was concerned he would be engaging in
A. a tying contract. B. an exclusive dealing. C. free-riding. D. commercial bribery. E. greenwashing.
Shawn McGill is on the executive board for ABC pharmaceuticals. The company produces the number one selling cancer fighting drug on the market. Due to its incredible success ABC pharmaceuticals has decided to increase the cost of the drug from $8 a pill to $15 a pill. Which force is ABC pharmaceutical using to increase its drug price?
A. Business power B. Threat of false entrants C. Supplier power D. Buyer power
________ refer to two or more outlets that are commonly owned and controlled
A) Corporate chains B) Factory stores C) Specialty stores D) Designer shops E) Warehouse clubs
What must supply chain partners do to manage the inherent uncertainty in demand, technology, and supply factors?
A. They must ensure that the contract is carefully documented to account for all possibilities. B. They must partner with multiple suppliers at each point in the supply chain. C. They must strictly enforce both legal and financial penalties. D. They must forge close relationships both upstream and downstream.