Business Finance Homework Help

MGT 441 Temple University Week 4 Management Training Case Study

 

Review the Week 2 Lecture, “How do you D1?”  For the purpose of this midterm assessment, assume that your trainers, Sarah and Caroline, are new to their jobs.  Assume further that you are their direct supervisor.  Describe how you would prepare Sarah and Caroline for their first assignment before they meet with the department manager, Lori Williams.

Be certain to include in your paper a value chain, a logic map, and a process map for their first assignment.  Provide detailed explanations of each component of the maps and the inventory as they apply to the situation in the Week 2 Lecture.

Week 2 Lecture

As Steven Covey suggests, “Begin with the end in mind.”  That’s the long and short of D1. The define discipline is the first and probably the most important as without direction we have nothing to train nor develop. Defining business outcomes asks the question “What is the direction of the performance?” If we look back in our book, we see several figures but the idea is how to get the ROI from the training? Performance!

Many years ago I was a Corporate Trainer in a large organization and defining the business needs was the toughest part of the training process. Many times this required a meeting with the trainer and the business department leadership to complete a needs analysis. One of my favorite projects was the Document Manager Project.

Here is a quick real life example:

The Application Analyst (AA) department manager, Lori Williams, called the training department and asked to sit down and discuss the new product they were rolling out to all the company’s AAs, worldwide, and what training could be offered starting on August 11 and ongoing as they were looking to roll out Document Manager on October 2. This product would affect 2500 people.

Lori Williams met with two trainers, Sarah Ward and Caroline Smith. Lori explained that all of the AAs were creating the same documentation over and over again, but had to save it to their own desktops and were unable to share the information because they didn’t have a document repository. Document Manager was going to fix this problem. All of the AAs could then share documentation. Document Manager too would have a template in it for the AAs to use. Document Manager would make the AA’s work much easier and quicker. The AAs were asked by upper management to be more effective with their documentation. Lori wanted to train all 2500 employees worldwide before Document Manger went out to the company on October 2.

Sarah and Caroline asked Lori what the AAs were using now to type up their documentation and what would be different with Document Manager. Lori explained that now AAs used Word Perfect, however Document Manager would use Microsoft Word. Due to this huge change Lori believes every employee effected needs to come to a training class that should last at least two hours, if not longer. Since the training would have to be on a computer, the training departments computer classroom’s only hold 15 people per class. Lori also said that she would like to see each employee pass a test using Word and Document Manager before attaining access to the new programs. She went on to explain that she would also like to have online training for Document Manager and Word available for all employees via their intranet site. Lori also told Sarah and Caroline that upper management had not yet decided how to reach the global employees for this training. Times were tight and they didn’t want to pay for the employees to travel or for Sarah and Caroline to travel. Lori said that she trusted Sarah and Caroline would have the right answer for upper management.

Lori also gave Sarah and Caroline some background on the AAs. She told them that for the most part the AA department’s abilities and familiarity with computers and software was exceptional. Lori had taken over that department only two years ago, but she explained how she weeded out the non-performing employees and replaced them with hard working, smart, efficient ones. Sarah and Caroline were excited about working with this audience.

From this quick example ask yourself the following questions: 

What organizational goal is driving this training?

What will the benefit be?

What is the skill gap?

What competencies (knowledge, skills, or attitudes) will this program need?

What evaluation will be used to measure the level of goal achievement?

Who will be trained?

What is the estimated class size?

How many classes will there be and how long will this training last?

What are the knowledge and skill prerequisites?

What type of program is being proposed?

What media, if any will be used in the training?

What will happen if we do not deliver the training?

What are the restrictions or limitations for delivering a program?

What other methods may be used to reach the goal (include limitations and advantages)?

Understanding the solution to the issue at hand is the goal. Gathering information from the senior management and non-supervisory employees will provide the information needed.

Supplemental Material

Economics Homework Help

UCLA Economics Are Houses Price Inelastic Discussion

 

Write a one page research proposal with a hypothesis based on an economic model. Identify and discuss your data and data sources.

The proposal needs to be related with house pricing (factors such as house price, sales, interest rate). However, since the supply of housing is inelastic, the normal analysis based on supply demand curve could be hard. Therefore, please be careful when describing the economic model. The screenshot is an example given by the professor.

Business Finance Homework Help

UOTSH Deepfake Presentación Individual en Criminalistica Discussion

 

TEMA ES Deepfake

Instruccciones:

En clases anteriores se te repartió un tema para la presentación individual. Prepara una presentación electrónica original sobre este tema. (Contenido: 10 ptos). Debes usar la herramienta Google Slides. Tu presentación debe incluir la parte ética del tema (10 ptos), que permita la discusión entre los compañeros de clase. (Delivery: 10 ptos).

Para la parte ética debes considerar una de estas dos preguntas: 

  1. Cómo se      puede cometer un crimen con mi tema o cómo mi tema ayuda a esclarecer un      crimen
  2. Cómo mi      tema afecta a la privacidad de las personas

Writing Homework Help

Walden University Approaches for Prosperous Completion of a Doctoral Program Paper

 

Prompt: By starting your doctoral program at Walden, you are joining a group of career professionals in pursuit of the Walden University mission to “transform themselves as scholar-practitioners so that they can effect positive social change.” This is a pursuit that comes with joys, challenges, and rewards. While many begin a doctoral program, not all successfully complete their program. One way to increase your chance of success is by understanding and reflecting on the challenges many doctoral students face and identifying and employing the strategies that will work best for you.

The excerpted reading provided below is from the article “Dissertation completion: No longer higher education’s invisible problem,” published in the Journal of Educational Research and Practice by Marshall et al. (2017). In this article, the authors conduct a literature review and qualitative interview study in order to better understand the challenges and supports that impact doctoral student success. The reading below includes the literature review portion of the article which focuses on “Challenges to Completion” and “Supports to Completion” as well as the “Implications” section which offers reflections on the findings of the authors’ qualitative study.

As you read and engage with this excerpt from Marshall et al. (2017), determine what content from the reading is relevant to your doctoral journey; then, compose an essay in response to the questions listed below:

  • What challenges to completion do you anticipate you will encounter in your doctoral program?
  • What strategies for successful completion do you anticipate will be the most useful for you, and how will you work toward implementing these strategies to meet your goals?

In your essay, include relevant paraphrased and cited information from this Marshall et al. (2017) reading excerpt, using your preferred citation style:

Challenges to Completion

Cassuto (2013) identified three different types of doctoral completers: (a) those who cannot complete because of time commitment, lack of research skills, personal challenges, and other outside factors; (b) those who can complete but choose not to, leaving the program for personal or professional reasons; and (c) those who successfully reach dissertation completion. How the personal and professional challenges impact those who do complete the dissertation became the focus of this study.

Personal or Environmental Factors

To successfully reach dissertation completion, the impact of outside factors such as managing work and family (Flynn, Chasek, Harper, Murphy, & Jorgensen, 2012) must be mitigated to ensure student progress. This is particularly true for practitioner scholars who negotiate both the professional and academic spheres. A frequent challenge to completion is the needs of families (Cassuto, 2013; Dominguez, 2006). Another relevant barrier to doctoral degree completion is lack of funding. Dissertating doctoral students may be conflicted with work concerns and money during this final stage in the doctoral process. Financial aid and fellowships for doctoral students are critical resources to ensure completion (Ehrenberg et al., 2009). Flynn et al. (2012) further explained that professional factors such as unemployment were barriers to dissertation completion.

According to Smallwood (2006), many of the issues related to non-completion may be attributed to admission selections. “Academic and affective factors that enter into the admissions process of doctoral students must be focused upon the student’s ability to complete program requirements and ultimately be awarded the doctoral degree” (McCalley, 2015, p. 4). The immutability of these issues spans 3 decades, with doctoral degree candidates reporting similar barriers impacting completion (Bair & Haworth, 2004).

Impostor Syndrome

Clance and Imes (1978) studied high-achieving individuals and observed that high-performing professionals may often struggle with fears of being exposed as an impostor. The groups they identified included persons for whom success came quickly, first-generation professionals, people with high-achieving parents, members of minority groups, and students. Nelson (2011) described impostor syndrome as “the crippling feelings of self-doubt and anticipated failure that haunt people who attribute their success to luck or help from others rather than their own abilities” (p. 129). Sherman (2013) warned that this self-doubt could create a paralyzing fear of failure: “Impostor syndrome can create performance anxiety and lead to perfectionism, burnout, and depression” (p. 31). Hendrikson (2016) noted that impostor syndrome often appears “after an especially notable accomplishment, like admission to a prestigious university, public acclaim, winning an award, or earning a promotion” (p. 1).

Young (2011) clarified that those with impostor syndrome believe erroneously that they lack intelligence, skills, and competencies; consequently, they feel undeserving of success. Young further predicted that times of transition, new challenges, and high-stakes assignments could cause impostor feelings to surface, even in otherwise confident, high-performing adults. Cuddy (2016) opined that impostorism is nondiscriminatory and knows no limits, as she recalled a conversation she had with Pauline Clance: “One more thing, if I could do it all over again, I would call it the impostor experience, because it’s not a syndrome or a complex or a mental illness. It’s something almost everyone experiences” (p. 95). Cuddy further explained that rates of perfectionism, performance anxiety, and societal expectations may contribute to the impostor syndrome. Nonetheless, Cuddy reported that fear of failure was recognized across numerous studies in different disciplines as the root cause of performance paralysis in otherwise highly capable individuals.

Writing Anxiety

Candidates associated anxiety with producing doctoral level work, especially because “explicit instruction in areas such as ‘thesis writing’ and ‘writing for publication’ does not seem to be normal practice in higher education” (Ferguson, 2009, p. 286). Students can feel overwhelmed by feedback for revisions regardless of depth or breadth of the recommendations due to a lack of exposure to academic writing before program admission (Ondrusek, 2012; Thomas, Williams, & Case, 2014). When students can edit their work based upon the feedback of faculty or peers, students lacking research skills are likely to focus primarily on grammatical changes instead of strengthening their overall argument (Ondrusek, 2012).

Becoming a good writer requires a sense of vulnerability and discomfort inherent in the practice during multiple revisions. Additionally, O’Connor (2017) argued that when students face their intellectual inhibitions, it is not simply an issue of confidence in presenting ideas, but a compelling anxiety about the nature of formulating thoughts. Writing is a personal experience and receiving feedback requires a certain level of openness and willingness to take criticism (Ferguson, 2009; Liechty, Schull, & Liao, 2009). “We must recognize that the ability to write from a scholarly perspective is a skill that does not necessarily precede acceptance into a graduate program” (Ondrusek, 2012, p. 185). “Providing for supportive groups or peer review opportunities and providing prompt and meaningful feedback may foster writing efficacy in students” (Lavelle & Bushrow, 2007, p. 817). O’Connor (2017) discussed how writing offers both an opportunity and a threat for students: “In the negotiation with the dissertation, there is a frustration in the inability we meet in ourselves, the lack of fluidity in expression and the sometimes torturous space between what we seek to express and what we actually express” (p. 3). Scholarly writing skills required in doctoral programs emphasize critical thinking, synthesis, and clarity of expression as essential for overall doctoral performance.

Productivity

The final barrier to successful doctoral completion relates to overall productivity. Because graduate students are, on average, older, they often balance expectations of family, friends, community or civic involvement, and careers. Therefore, finding dedicated dissertation time can prove to be a barrier (Ondrusek, 2012). In a study of a predominantly Black female cohort, Holmes, Robinson, and Seay (2010) found that training in self-regulated learning in conjunction with effective mentoring can assure success for all students in the dissertation phase of doctoral study.

Ehrenberg et al. (2009) argued that graduate students who have assistantships and are provided opportunities to engage in research have increased levels of overall productivity and progress more quickly than peers with other jobs. Dominguez (2006) explicated the barriers to graduation linked to productivity as an inability to plan, procrastination, perfectionism, lack of research skills, and trouble selecting a topic.

Supports to Completion

According to the Strategic Intervention for Doctoral Completion project, there are four conditions for optimal doctoral completion (Council of Graduate Schools, 2007). Condition 1 involves recruiting the right people for doctoral study and ensuring they clearly understand the rigors of doctoral education. Condition 2 logically involves admitting only those applicants who are the right candidates for doctoral study. Admissions committees are responsible for properly screening applicants and orienting them to the rigors and expectations of the program. In Condition 3, the study recommends promoting an environment in which students support each other’s endeavors in a manner that prepares them for professional relationships that are collegial in nature. Last, Condition 4 emphasizes forming productive professional relationships between faculty and doctoral students so that doctoral students receive the support and mentorship necessary for completion.

Cohort or Peer Support

Beyond the family, cohorts or writing groups can provide support for doctoral students. External factors tied to success include “advisor motivation, family support, and supervisor/institutional considerations” (Dominguez, 2006, p. 23). According to Varney (2010), the use of the cohort model is a program design option that positively impacts completion rates. Krueger and Peek (2006) noted that interpersonal relationships during the program of study was important for developing of academic skills associated with writing, teaching, and publishing.

Mentors in the Academe

A faculty mentor can provide social and emotional guardianship in addition to the traditional academic support for the doctoral candidate during the dissertation. The dissertation chairperson has been found to be key to productivity as well as timely completion (Barnes, Williams, & Stassen, 2012; Burkard et al., 2014; Spillet & Moisiewicz, 2004). Garger (2011) identified four essential roles of dissertation chairpersons as advocate, manager, leader, and judge, claiming the savvy chairperson applies the role appropriate to the needs of the protégé in varying situations.

Bloom, Propst Cuevas, Hall, and Evans (2007) claimed that the relationship between the chairperson and the candidate is the essential component in determining degree completion and must be based upon genuine care. For this reason, an understanding of selection criteria will help to guide decision making early in the dissertation process. Neale-McFall and Ward (2015) recommended that chairperson selection not be taken lightly, as it may determine the productivity and ultimately whether the candidate completes a doctoral program. The factors identified by students in selecting a chairperson in earlier decades centered around similar research interests, a potential chairperson’s reputation for publishing, and whether the chair was knowledgeable in methodology (Lovitts, 2001; Smart & Conant, 1990). Alternately, current candidates seek a chairperson who is willing to support and nurture over one who is highly credentialed with an impressive research background or reputation (Neale-McFall & Ward, 2015). Chairperson selection based upon genuine care and accessibility will move a student toward success. Additionally, a candidate should consider whether the potential chairperson acts as a role model in professional and personal matters, provides individualized guidance, and proactively integrates students into the profession, all indicators of a successful dissertation mentor.

In a metasynthesis of 118 studies on doctoral attrition, Bair and Haworth (2004) found most frequently that degree completion was directly related to the amount and quality of contact between doctoral students and their chairperson. Collaborative relationships with committee or other faculty members have also been found to positively impact completion results (Dominguez, 2006; Neale- McFall & Ward, 2015). When doctoral candidates can connect with research and learn about publishing, they are more likely to feel connected to the community of the academy (Smallwood, 2006).

When candidates do not complete doctoral programs, along with psychological and economic losses, there are immeasurable voids in research both to the university and to the academe (Gilliam & Kritsonis, 2006; Grasso et al., 2009). After 40 years of research, and despite advancements in technology, pedagogy, and curriculum, the noncompletion rate may still be increasing (Miller, 2013). In this study, the researchers sought to understand the factors that thrust doctoral candidates to completion, whether quickly or on a delayed schedule.

[Methodology and Major Findings sections have been omitted from this excerpt.]

Implications

From the findings, multiple implications inform practice for students, faculty, chairpersons, and doctoral program directors. The associated implications for dissertation completion are not intended to be considered a generic template. Moreover, the findings from this study reinforce the notion that individual students’ motivation, drive, and confidence levels determine the pace toward completion of the doctoral degree. Although common approaches to the dissertation span disciplines and institutions, doctoral students voiced the importance of their unique needs as they reflected on their dissertation completion. For students, self-awareness was essential and communicating their preferred learning style, writing preferences, and support systems were critical to their success.

For Students

Based on the findings, there are multiple implications to inform students as they approach the dissertation. First, students must understand, recognize, and address the insecurities related to impostor syndrome. Rather than allow imposter syndrome to impede their progress, students may increase productivity by creating partnerships with fellow students to serve as an accountability partner support the productivity of the writer (Ferguson, 2009). These partnerships may include setting timelines to which students are held accountable. If, for any reason, a student does not meet the deadline, reflection, discussion, and problem solving should be implemented. Ongoing communication with the chairperson is also essential. Regular, student-initiated contact with the chairperson is critical to student completion. Students must honestly communicate their challenges and insecurities with their chairperson and seek out their guidance and advice.

Next, self-awareness is critical at the dissertation phase. Students need to remain committed to the process by clearly understanding their motivations. Whether it be to make a family member proud or to move to the next professional level, their motivation to complete will keep them moving forward. Additionally, students need to know what works best for them. For example, they need to communicate what they need from their chairperson, know their productive writing times, understand the obstacles that may prevent them from making progress, and implement the rewards systems that keep them making progress.

Last, building writing and research skills throughout the coursework may improve a student’s level of confidence at the dissertation phase. By seeking out research opportunities throughout the degree program, research knowledge and practice increases. Additionally, preparing related literature reviews familiarizes the student with the synthesis process and provides opportunity for feedback on writing.

For Doctoral Program Directors, Faculty, and Chairpersons

In the dissertation completion process, the role of the doctoral program director, faculty, and chairpersons cannot be underestimated. One way to support students in reaching their graduation goal is to build in internal characteristics tied to success to include “planning, personal disposition and communication” (Dominguez, 2006, p. 22). Overcoming impostor syndrome is essential to their completion. The role of faculty is vital. Faculty can help students enhance their dissertation-related skills and confidence by providing regular encouragement, offering constructive feedback, and incorporating meaningful assignments that relate to or inform the dissertation. These assignments can take the form of pilot studies, literature reviews, article critiques, and dissertation reviews. With the early identification of a dissertation topic, students may use course-related assignments to inform their understanding of the topic.

Additionally, the role of the chairperson is critical to a student’s completion. Creating mutually agreed-upon goals and deadlines, with accountability measures are key (Ferguson, 2009). Similar to a classroom setting, by imposing deadlines with consequences, students are more likely produce. We strongly encourage regular communication between the chairperson and student. Gearity and Mertz (2012) offered guidance through an autoethnographical inquiry to inform practice on the student- chair relationship and effective mentoring in the dissertation journey. Understanding that imposter syndrome causes students to withdraw, chairpersons must regularly check in with students to offer encouragement, support, and guidance.

Departmentally, faculty and program directors cannot assume that because students completed their doctoral coursework, they are confident and prepared to write the dissertation. Departmental training in dissertation writing and research is recommended to aid students. This training can come in the form of workshops, additional coursework, or faculty consultations. We found that students often needed just-in-time dissertation information. They needed information and explanation of different components of the dissertation, when they were at that stage. We recommend using technology and the availability of virtual learning environments to provide students with dissertation-related resources including pre-recorded lectures.

The reading above is excerpted from the following article which follows the publishing guidelines of the 6th edition of the Publication Manual of the American Psychological Association:

Marshall, S. M., Klocko, B., & Davidson, J. (2017). Dissertation completion: No longer higher education’s invisible problem. Journal of Educational Research and Practice, 7(1), 74-90. https://doi.org/10.5590/JERAP.2017.07.1.06

Prompt: What challenges to completion do you anticipate you will encounter in your doctoral program? What strategies for successful completion do you anticipate will be the most useful for you, and how will you work toward implementing these strategies to meet your goals?

Engineering Homework Help

University of Central Missouri Assembly Line and Process Improvement Questions

 

Part 1: Assembly line and Lean Manufacturing

Review these 3 video clips, and write a brief summary of assembly line and Lean manufacturing in 1-2 pages (300-500 words). Your writing should present the major points you learned from the clips and Lean tools and techniques used in their implementation.

1.  Toyota Production Documentary – Toyota Manufacturing Production and Assembly at Toyota Factory

https://www.youtube.com/watch?v=k4-eJsFdxaU (length: 28:59 minutes)

2. Boeing lean manufacturing

https://www.youtube.com/watch?v=9dwqu7pRqGg (Length: 7:52 minutes)

3. Lean Manufacturing – Lean Factory Tour – FastCap

https://www.youtube.com/watch?v=jYby_HczyDA  (length: 13:40 minutes)

Part 2: Process Improvement

You will review the knowledge on Lean Six Sigma and process improvement (Chapters, 1-5) from your textbooks and chat discussion, then answer the following questions:

1.Describe the goals of the lean methodology and benefits of implementing Lean.

2.Explain the seven sources of waste provide in Chapter One. Provide examples of each of these types of wastes in your workplace or school.

3.What do Six Sigma projects focus on? Why?

4.What is an organizational culture? What cultural aspects would you expect to see in Lean Six Sigma organization?

5.Why does an effective organization need a strategic plan?

6.Using an example from personal experience, describe the difference between satisfaction and perceived value.

7.How is each of the principal parts of a quality function deployment (QFD) matrix created? What does each part hope to provide to the users?

8.Describe the phases of team development.

9.How will you guide people who work for you or with you through a change process?

10. What are the major characteristics of these organizations/industry? Explain (select only 2 items to answer from this list: manufacturing, healthcare, construction, services, government, or education)

Business Finance Homework Help

CUNYBC Influence of Power and The Recruitment Cycle Essay

 

2. Part two on a separate word document PART 1: Think about how human resources are handled at the company you work for, or one you have worked for in the past. In the discussion thread, comment on the following questions:

  1. What steps of the human resources cycle does the company handle well? Why?
  2. What steps of the human resources cycle are handled poorly? Why?
  3. How is culture impacted by the Human Resources department?

3. On a separate word document

STEP 1 – READ THE INFORMATION BELOW

Managers spend one third of their time communicating up and down the organizational hierarchy. Communication is the transfer and understanding of information from one person to another. The communication model comprises of several parts.

We want to examine the communication pathway or medium in which communication is delivered. The communication pathway is the way messages are sent, including:

  • Face-to-face meetings.
  • Electronic mail and online discussions.
  • Written letters or memorandums.
  • Telephone or voice-mail, among others.

While some people may be better at using certain mediums over others, some mediums can be better suited for the specific message being conveyed. For this week’s discussion, suppose you are a manager who needs to communicate several messages to employees of the company.

Messages
  1. The CEO abruptly resigns after the news media reports that the CEO embezzled millions of dollars.
  2. A plan to relocate the company.
  3. The death of an employee.
  4. The reassignment of one division to a new location.

Step 2 – Post a Response

Respond to the following for each of the messages above:

  • List the medium (telephone, email, text, face-to-face meeting, etc.) you would use to communicate the message.
  • Explain why you chose that medium over the other possible mediums.
  • Then, consider the importance of the information conveyed in these messages. How might the choice of medium for communication impact trust and credibility among the employees?

4. On a separate word document

POWER, POLITICS, AND CULTURE

OVERVIEW

In your second assignment, you created a professional development plan using EI building blocks and motivation. In this last assignment, you will examine how politics and power influence an organization and its culture.

In business, power and politics greatly influence an organizational culture and may hinder organizational productivity. In your role as consultant, you observed power and politics influence on the corporate culture.

INSTRUCTIONS

Write a 5–7 page report that addresses the following:

  1. Influence of Politics and Power:
    • Explain how politics and power-play may have influenced the organization’s culture.
  2. Sources of Power:
    • Explore at least one source of power and describe how management could use this influence to benefit the department and improve organizational performance.
  3. Leadership Behavior and Culture:
    • Make recommendations that support how the study of power and politics could influence leadership behavior and improve the organization’s culture.
  4. Leadership Influence:
    • Discuss the importance and complexity of leadership behavior in solving the issue you identified. How does it influence organizational structure and performance?
  5. Confidentiality: Since you will be addressing real issues in real organizations in your assignments, it is important to respect confidentiality. Feel free to use an alias for any company or individuals you might mention in your assignments. Remember that all discussions about these organization should only occur within this course and not be shared with people outside the course.

The specific course learning outcome associated with this assignment is:

  • Analyze the influence of politics, power, and leadership behavior on organizational culture

Grades on

Explain how politics and power-play may have influenced the organization’s culture.

Identify at least one source of power or describe how management could use this influence to enhance organizational performance.

Recommend how the study of power and politics could influence leadership behavior and impact the organization’s culture.

Discuss how the importance and complexity of leadership behavior influences organizational structure and performance.

Computer Science Homework Help

CAD Growth Rate in The Next Ten Years Worksheet

 

I’m working on a computer science question and need an explanation to help me learn.

Please see data on attached excel. Can you please do any data tables, pie charts, etc to showcase the information provided on the excel. 2-3 charts/tables will be sufficient. 

The data on the excel document portrays the fastest growing jobs in the next ten years.

Business Finance Homework Help

Cumberland University Price Determination in Companies Response

 

This week’s reading included chapters five, six, and seven. Chapter five is all about Investment Decisions, and what factors businesses and individuals take into consideration when investing their money. It describes investing as being willing to trade money today, for money in the future, and if done correctly, it will more than likely be more money than what you put in. People are hesitant to invest for multiple reasons including the risk factors, and the initial payment. Not everyone has enough for an initial investment, which is very important in the process. The chapter continues by talking about the break-even point. You find this point from dividing fixed costs by the contribution point (Hilton, 2019). Companies use this formula to decide if what they’re doing or plan to do is profitable. If they are expecting to make more than the break even point, than what they are doing is profitable, and they should continue to do it.

Chapter six explains pricing, and how businesses decide what to charge the consumer for their products. Business is all about supply and demand, and the relationship between the producer and the consumer. Two factors they use is Marginal Revenue (MR) and Marginal Cost (MC). If MR is more than MC than they should reduce the price and increase quantity. This is because consumers will buy more and demand more as the price is reduced. If it is the other way around than they should increase price and reduce quantity (Helton, 2019).

The final chapter of this week’s reading was chapter seven, which explained economies of scope and scale. Economies of scale are all about a company and how they vary from the short run to the long run. Factors that are fixed in the short run, but turn to variable in the long run are an example of this. There are constant returns to scale, decreasing returns of scale (diseconomies of scale, and increasing returns to scale (economies of scale). A business aims for economies of scale, where their average cost decreases with the output.

  1. I am still very new in the department that I work in at University of the Cumberlands. This past week we purchased a brand-new camera for our photographers to take pictures during sporting events. With every investment and purchase, there is an opportunity cost. This camera cost around $1,500 with all the lenses and other accessories that came with it. In this scenario, the opportunity cost would be what we could’ve spent that $1,500 if we did not buy the camera. We could’ve invested this money in something else, however, we decided to spend it on the camera to increase the quality of pictures taken. This quality increase also betters our website and social media pages where we put the photos, we take on display. The better our content is as a department; the more people will like and talk about it. This will make the college look good, and then we might get more money for the department. This is how this purchase is an investment to make money in the future.

Resources

Hilton, Ronald W. (2019). Managerial accounting + connect access card: Creating value in a dynamic business environment. MCGRAW-HILL EDUCATION.

Business Finance Homework Help

University of Memphis Fishbone Diagram and Research Questions

 

Hello, I need you to go through the slides and complete the fishbone diagram and the five research questions. (The slides are the 1st document, everything else are resources that may be useful.