...Week One Student Guide One purpose of this course is to integrate economic concepts and business decision making. Managers must make decisions based on available information, theoretical knowledge, and experience. This week’s information may help you understand that decisions must often be made based on limited information regarding the direction of the company, which affects revenue, pricing, and market stability. A manager must understand many factors to help a business increase revenue. One factor is that price times quantity yields total revenue for a product. Another relevant concept is that there are opportunity costs associated with any decision. Elasticity also affects revenues as managers change prices and quantities. Increasing Revenue OBJECTIVE: Choose methods to increase revenue in an organization. Resource: Ch. 1, 2, & 6 of Economics Content • Ch. 1: Limits, Alternatives, and Choices o The Economic Perspective o Theories, Principles, and Models o Microeconomics and Macroeconomics o Individuals’ Economizing Problem o Society’s Economizing Problem o Production Possibilities Model o Unemployment, Growth, and the Future • Ch. 2: The Market System and the Circular Flow o Economic Systems o Characteristics of the Market System o Five Fundamental Questions o The “Invisible Hand” o The Demise of the Command System o The Circular Flow Model • Ch. 6: Elasticity, Consumer Surplus, and Producer Surplus ...
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...1 Week 4 Learning Team Exercises Rashonna Web and Crystal McQueen ACC/543 Sandria Stephenson December 7, 2014 2 26.1)Mechanic's Lien. Ironwood Exploration, Inc. (Ironwood) owned a lease on oil and gas property located in Duchesne County, Utah. Ironwood contracted to have Lantz Drilling and Exploration Company, Inc. (Lantz), drill an oil well on the property. Therafter, Lantz rented equipment from Graco Fishing and Rental Tools, Inc. (Graco), for use in drilling the well. Graco billed Lantz for these rentals, but Lantz did not pay. Graco filed a notice of mechanic's lien on the well in the amount of $19,766. Ironwood, which had paid Lantz, refused to pay Graco. Graco sued to forclose on its mechanic's lien. Who wins? Graco Fising and Rental Tools, Inc. v. Ironwood Exploration, Inc., P.2d 1074, 98 Utah Adv. Rep. 28. Web 1998 Utal Lexis 125 (Supreme Court of Utah) 26.2)Foreclosure Atlantic Ocean Kampgrounds, Inc. (Atlantic) borrowed $60,000 from Camden National Bank (Camden National) and executed a note and mortgage on property located in Camden, Maine, securing that amount. Maine permits strict foreclosure. Atlantic defaulted on the loan, and Camden commenced strict foreclosure proceedings pursuant to state law. After the one-year period of redemption, Camden National sold the property to a third party in an amount in excess of the mortgage and costs of the foreclosure proceeding. Atlantic sued to recover the surplus from Camden National. Who wins...
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...Voice Traffic Joseph Stozek DeVry University When thinking about WLAN technology there are many benefits that seem to make it a great and upcoming aspect in the networking world. Providing support for voice communications, telephone traffic is a big benefit of that. The WLAN is also a great benefit because it supports both data and voice traffic, making it less money because the two are combined. They offer all types of new applications and different types as well. Wireless PDA’s are a type of advantage to the WLAN as well. They make accessing voice and data much easier to access and more viable to use (Geier, 2003). When looking into disadvantages there are a few of those as well. They were not designed for streaming media, and will cause congestion in the network. Another big problem would be voice mobility. Since most phone users are much better at being more mobile than data users, it causes a problem as well. Most people have an easier chance when they are moving around talking, then they are at texting. It is so much easier sometimes to talk, than it is to type. A person can easily tell each other what is on there mind in a few minutes, when it might take a few more minutes to try and type it out. Time can easily be saved in just talking on the phone. Security over the WLAN would be a big disadvantage as well. So many people try and hack people over their wireless networks all the time. If you do nothing about making...
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...Learning Team Reflection Week 4 How does the development of a contract administration plan affect a company’s business? A contract administration plan is critical to the success of a company that relies on complex contracts to conduct operations. A contract by definition is a binding agreement between two or more parties. The parties may be individuals, business entities, or a governmental entity. Before a contract is drawn up negotiations occur where one party offers a product or service under precise terms for a set fee. Most contracts cover a specific time frame. The bigger and more complex the product or service, the more a contract administration plan is necessary. The plan keeps detailed notes on milestones, deadlines, and the submission of any deliverables. The ultimate goal of a contract administration plan is to provide company’s involved in the contact agreements with maximum profit with minimal risk. The development of a contract administration plan affects a company’s business because it helps companies manage projects, original documents, costs, deadlines, and spending. Proper contract management “saves time and money when change orders are requested or claims or prepared.” (Cross,2012). The information found regarding preparing a contract administration plan, states that the company has the ability to focus on the major contract outputs and best practices. It is the road map to ensure that the company receives all that is stated in the contract from the outside...
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...A Week Four Paper PHL/443 December, 16th, 2013 A Week Four Paper The questions posed this week were very interesting, assigning rights to machines and determining criteria’s if machines are conscious or thinking. Assigning rights to humans is one thing and even that has been debatable for hundreds of years, but now the conversation has transitions if we could how would we give machines rights. I think that anything that has rights needs to be able to think for themselves, to form opinions, and be active contributors in their rights. Machines are not thinking or capable of having or experiencing conscious experiences, which I feel, would allow them to have rights. Rights are a form of freedom and how do we give freedom to an object that we program, we give information to, and we can turn on and off at will. If and when the reality of The Jetson’s comes to life and I have a robotic maid that actively interacts dependently with my family and I throughout the day then I would have to consider transferring rights to him or her. As every other week in this course, week four has been very informative and mind bending for me specially the discussion questions with regards to the rights of intelligent machines, I believe for one to have rights one must be conscious and poses free will, and if in future intelligent machines become conscious then they do not need rights but regulating. The other topic which I found interesting was “what type of criteria may be established for...
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...financing. This proved very lucrative for the company. With the end of World War II, society experienced increased demand for construction and forestry equipment. In 1951, the equipment financing subsidiary, Future Growth Inc. (FGI) purchased an equipment manufacturing company, which vertically integrated the subsidiaries operations. Over the next 67 years the company increased revenues and profits. Unfortunately, with the recent downturn in the American economy coupled with several natural disasters, FGI has for the first time experienced a decline in profits and was forced to lay off one-third of its workforce. Although residential home sales have dropped the health care industry is still experiencing healthy demand. The purpose of this paper is to provide recommendations to TMS for increasing revenue, achieving ideal production levels, determining how fixed and variable costs should be adjusted to maximize products and finally to identify methods to reduce costs. Since the economic decline FGI has repossessed more than 500 pieces of equipment. FGI has bundled the pieces together and has determined an average price for each piece. The present selling price is $1,732. At that price FGI could sell 182 units for an aggregate purchase price of $315,224. If FGI lowers the price to $1,634.3 they could sell 350 units for an aggregate purchase price of $572,005. Based on the data provided by...
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...According to ASC605-25-25-5 “In an arrangement with multiple deliverables, the delivered item or items shall be considered a separate unit of accounting if both all of the following criteria are met: a. The delivered item or items have value to the customer on a standalone basis. b. If the arrangement includes a general right of return relative to the delivered item, delivery or performance of the undelivered item or items is considered probable and substantially in the control of the vendor.” Therefore, Hemo should identified 5 units of the equipment,50 boxes of the equipment supply, the three- years screen and the report services, and one year monitor and test services However, there are other potential deliverables in the agreement such as, warranty, technology improvement, discounted optional purchase, and safety representation, might be identified. To determine whether is deliverable or not: Equipment and supplies according to ASC 605-25 they are considered to be deliverable because they have standalone value. Installation is not considered as a deliverable item because it has not standalone value. One year monitor and test service and three year screen and report are considered to be deliverable because each of them have a standalone value, specified time and in the control of the vendor. Part II Answer: Equipment Due to the fact that Hemo dose not sell the equipment separately and there is no competitor in the same region for the BIO-07, The best way for Hemo...
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...Why a School Week Should Only Be Four Days Have you ever wondered if a school week will be changed from a five day week to a four day week? Do you ever not want to go to school on monday because you haven’t had a enough time to get your homework over the weekend and you are worried you're going to get in trouble? A four day week is necessary for our children because the statistics show if we have a four day week they will achieve better results academically, better attendance, kids need more family time and students will have more time to complete their homework they didn’t get done. A four day week is needed in our country because the other countries have the statistics that supports them changing it. One reason people think Australia should change school to a four day week is in America about 100 schools use the four day system and 67% of 2,700 students prefer this system. People did research on this topic and they found that on average math scores increased by...
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...Dalton EAL CERT 4 VU21482 Name :Wong Jet Yee. ID:GEC 0000097 DATE: 26.06.2017 Task 1 Extracting the key points and the vocabulary of informational issue texts. (1.3) For this task you will show how much you have learnt about current issues by answering questions and giving examples of the types of language and vocabulary we use when we write or talk about issues. You will answer the questions 1-8 that ask about the different topics we have looked at during the unit. This is a short answer test, so make your answers only one or two sentences long. (You will have 2 hours to complete this task) 1. We have talked about a lot of different issues in this unit. List 5 issues that you can remember we have talked about. This will depend on what issues...
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...Reporting Practices and Ethics Paper My strategy will consist of three phases. These phases include: capital shortage, funding for equipment acquisition and funding options for capital expansion. While during these three phases I will also observe the necessary financial statements and documents that need to be review so that I can make better decisions on all three phases. From this information that I have I will then analyze and review the information and make a sound decide that will they best strategy for improvements? I will not only focus on the goals for the clinic, but long term budget goals as well some short term goals if needed. Phase I: Capital Shortage There were two options that I chose to make cut costs to. The two options that I chose were to reduce the agency staff and changing the skill mix. I chose to reduce agency staff because “Reducing proportion of contract labor used to fill vacancies would save use money and among patient care workers would reduce costs, staffing nursing units and other patient care areas where take cuts as well. To me the salaries of agency contracted that are brought on are people that are getting paid twice as much as the other hospital staff. Also by reducing these personnel issues will then tremendously cut down the costs made toward the hospital. Bridging a working capital shortage is one of the strategies that can help increase the hospital’s revenue in many ways if there is a true concrete...
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...Oceans, Hurricanes, and the Climate SCI 209 Your Name March 01, 2010 Introduction Natural disasters occurring from the climate change could be on the rise. Global warming has been rumored to be causing more hurricanes, typhoons, cyclones, heavier monsoonal rains that cause major flooding, mud slides, and other disasters worldwide. A tropical cyclone, also referred to as hurricanes, typhoons, or cyclones, depending on where in the world the cyclone is occurring, are one of the world’s grandest shows of energy provided by nature. Hurricanes are large, swirling, low pressure storms that have sustained winds of over 74 miles an hour and are formed over warm ocean waters (NASA, n.d.). The purpose of this paper is to discuss hurricanes and the effect that the ocean has on them. What Causes Cyclones? Tropical cyclones formed over the Atlantic or eastern Pacific Ocean are called hurricanes and only form in warm waters near the equator (NASA, n.d.). The warm, moisture rich air of these waters is the fuel that hurricanes need to get started and grow. The warm air rises up from near the ocean surface causing a low pressure area to form and air from surrounding high pressure areas rush in to fill the low. The new air that replaced the other begins to heat up and pick up moisture as it rises too. This process is repeated until the clouds build and begin to spin, eventually becoming a gigantic engine, forming lower pressures in its core and sucking up more and more warm, moist, air...
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...Counselor Ethics and Responsibilities Jennifer P Coetzee PCN-505 May 18, 2016 Kendra Stewart Counselor Ethics and Responsibilities Section 1: Counselor Values There are so many different views in opinions when it comes to the topic of abortion. There is the religious point that it is wrong to have an abortion because of the ten commandment that states “Thou shall not kill.” All have heard this one whether atheist or religious. People’s right to choose abortion or not has been questioned for many years, as congress officials have tried on many occasions to illegalize this right. Then there is the other side of this opinion where so many feel it is the woman’s right to choose to have an abortion. A lot of people see this as a form of birth control. It is a woman’s choice to have an abortion completed, she may have goals in her life that pregnancy would prevent her from achieving these goals. Abortion: The Choice. (2010). New York, N.Y.: Films Media Group, [2008]. In my personal opinion, I would not advise abortion because I am someone who had an abortion before. My values were so against abortion for so many years, then I was in a situation where I chose abortion so I cannot advise someone else to have an abortion. I would have wanted someone to tell me what they went through after having an abortion. For me, it was coming out of a very bad marriage and finding out I was pregnant. I already had two children to support and had high risk pregnancies both times. I was worried...
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...Cost Method Problem: ABC a Virtual Organization The Super Bakery supplies mineral, vitamin, and protein enriched baked goods to food markets like school systems. The strategic functions of the company are performed internally. The other activities including sales, warehousing, and shipping are outsourced to various external companies. The following questions explain the costing methods of the Super Bakery and what costing method system is the best process for the Super Bakery. Cost Methods Evaluated * What strategies and tactics did the management of Super Bakery, Inc. use to increase sales and growth? Management of Super Bakery Inc. increased sales by combining the external companies together with the parent company for maximized values and work flow. These values include: * Minimum investment * Staffing expenses * Fixed assets * Working capital. The growth of the company consists of controlling the quality and costs of services, which was not easy when the costs increased for orders in different parts of the country. The high profit margins were subsidizing orders with low profit margins and the Super Bakery needed a system to assign costs to each order correctly. * Why did Super Bakery’s management think it was necessary to install an ABC system? Do you agree with their reasoning? If you disagree, identify your recommended costing system, including your rationale, to management. I agree with the Super Bakery for installing the ABC system. Activity-Based...
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...E. Identify the inventory management method you recommend, and explain why this method will benefit the company. “Inventory management is a practice of tracking and controlling the inventory orders, its usage and storage along with the management of finished goods that are ready for sale” (Borad 2018). It is crucial that a company has an inventory management technique in place because the lack of an inventory management system results in increases in storage fees and idle production times, frozen working capital, and the wasting of materials and labor resources. The company also experiences a decrease in revenues and customer satisfaction. For example, Hampshire Company currently utilizes Manufacturing Resource Planning (MRP) to manage its inventory. Under the MRP inventory management method, the amount of inventory to be produced is based on the anticipated yearly sales forecast. Hampshire Company forecasted that they would sell 60,000 umbrellas at $12.50 each and make $750,000 in revenues during 2014. The manufacturing department, therefore, decided to produce 80,000 umbrellas to be prepared for cases where defects, returns, and spoilage may occur (Borad 2018) (Orlicky 2018). More than likely, Hampshire Company is going to use the last-in-first-out (LIFO) method to ensure that the 20,000 umbrellas left in inventory will be sold to consumers first. Even though the LIFO method is effective to release the ending inventory from the prior year, the storage costs and...
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...Juvenile Delinquency and Juvenile Crime Jason Bailey CJA/204 9/5/2014 Freddy Stansbury Juvenile Processing The process in which a juvenile enters the justice system is relatively simple. It starts with an arrest by a law enforcement official. Other ways it can start is by a referral from a parent of a minor. Even schools, victims of the juvenile, and probation officers can make referrals as well. There are several factors to consider when a case officer makes a decision as to whether or not to detain and charge them, release them, or in some cases place them in a youth welfare program. The officer must make a determination based upon facts of the case and also the recommendations of parents or legal guardians. About fifty percent of all juvenile cases are heard informally and usually dismissed unless the circumstances are rather extreme. When a juvenile is arrested and detained, they cannot be allowed to remain in an adult facility for longer than six hours. They must then be moved to a juvenile secure detention facility or released to their legal guardian. At this point the juvenile will be seen through an informal hearing. In which the judge can either dismiss the case or make some stipulations for the juvenile to complete before the case is dismissed. Some of those things include restitution, mandatory curfew, school attendance, and drug rehabilitation if the juvenile is caught using drugs. If the case goes beyond an informal hearing, then a formal hearing will be...
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