Explain how a cost leadership strategy permits a firm to address the five forces in their competitive environment so it can enjoy higher-than-normal profits.
What will be an ideal response?
An overall low-cost position enables a firm to achieve above-average returns despite strong competition. It protects a firm against rivalry from competitors because lower costs allow a firm to earn returns even if its competitors are eroding profits through intense rivalry. A low-cost position also protects firms against powerful buyers. Buyers can exert power to drive down prices only to the level of the next most efficient producer. Also, a low-cost position provides more flexibility to cope with demands from powerful suppliers for input cost increases. The factors that lead to a low-cost position also provide substantial entry barriers from economies of scale and cost advantages. Finally, a low-cost position puts the firm in a favourable position with respect to substitute products introduced by new and existing competitors.
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Which one of the following statements is true?
A) Income manipulation is difficult under LIFO. B) Accounting principles do not require that the inventory cost flow approximate the physical flow of goods. C) Companies may use LIFO for tax purposes and FIFO in the financial statements. D) In periods of declining prices, LIFO will result in the payment of lower income taxes.
________ consists of short messages exchanged on social media networks such as Twitter, Facebook, and Tumblr
Fill in the blank(s) with correct word
Mark gives a bearer note for $50 to Joe in exchange for an excellent dinner at Joe's restaurant. Joe delivers the note to Sue for $50 and Sue takes it to Mark to be paid. If Mark says the note was originally written for only $5, what can Sue do?
a. Hold Joe liable for breach of warranty. b. Get $50 from Mark. c. Hold Joe liable for breach of contract. d. Any of these.
Makespan is the time of completion of a group of jobs, plus the starting time of the first job
Indicate whether the statement is true or false