ASSIGNMENT QUESTION 1a) Give 5 definition of business finance and there authors?​

Answer:

Business owners share many of the same entrepreneur characteristics: leadership, vision, discipline, curiosity, creativity, adaptability, and the ability to take measured risks. Developing these traits can help you become successful when launching your business.

The standard fixed overhead rate is given as $1.18

A business's overhead cost pertains to its secondary expenses that are not specifically related to any one provided product or service. While an essential component for smooth day-to-day operation, such expenditures do not have a direct influence on the manufacturing or provision of said product or service.

Rent, utilities, insurance, personnel payments (non-production-based), materials such as stationary and supplies, and maintenance upkeep of industry tools all fall into this category. To distribute these various indirect financial requirements proportionally amongst departments or products, businesses often rely upon specific predetermined calculation methods or pre-set charges.

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The relative frequency is 0.1

An ogive is a graphical representation of a cumulative frequency distribution.

It is a curve that shows the cumulative frequency of observations or data points on the vertical axis and the corresponding class intervals on the horizontal axis. The ogive can be constructed by plotting the cumulative frequencies at the upper or lower class limits of each class interval and then connecting the plotted points with a smooth curve.

The ogive is useful for visualizing the distribution of data and identifying patterns and trends. It can also be used to determine the median or quartiles of a dataset. Additionally, ogives can be used to compare different datasets or distributions by plotting them on the same graph.

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The average pantry space occupied by cat food is 1794 cubic inches.

To calculate the average pantry space occupied by cat food, we need to first determine the EOQ (Economic Order Quantity) for managing the cat food purchase process. EOQ is the optimal order quantity that minimizes the total cost of ordering and holding inventory

Using the given information, we can calculate the EOQ as follows:

Annual demand for cat food = 7 cats x 365 days x 1 can per day = 2,555 cans

Ordering cost per order = cost of one-way trip to the store = $3.50

Holding cost per unit = 10% of the unit price = 0.10 x $0.89 = $0.089

EOQ = √(2 x 2,555 x $3.50 / $0.089) ≈ 138 cans

This means that Geoff should order 138 cans of cat food at a time to minimize the total cost of ordering and holding inventory.

Now, to calculate the average pantry space occupied by cat food, we can use the formula:

Average pantry space = EOQ x space per unit

Space per unit = 13 cubic inches

Average pantry space = 138 cans x 13 cubic inches per can = 1794 cubic inches

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"Gollee those cats sure go through a lot of food," Geoff exclaimed as he saw the shopping list pad that had been pre-printed with the words "cat food" a the top. He pondered a different approach to shopping for the furry little darlings, reviewed his shopping records, and discovered the following. The price of cat food has held steady at 89 cents per can. Despite feigning indifference, each of the seven cats nibbles their

way through an average of one can per day, three hundred sixty-five days a year. The price of gasoline has held constant at $3.50 per gallon and his pickup uses a gallon each way to the cat food store. The cost to hold a can of cat food is 10% of the unit price.

What will be the average pantry occupied by the cat food?

A low-cost strategy gives options in minimum costs and a differentiation strategy means presenting differentiated or unique products.

While a low cost organization should place more emphasis on effectiveness and cost cutting a differentiated organization should prioritize innovation and creativity.

Offering goods or services at a lower cost than rivals is a low cost strategy. A differentiation strategy entails providing goods or services that are distinctive and different from those of rivals in order to draw in price sensitive customers who are searching for the best deals. The objective is to draw clients who are prepared to pay more for the special qualities or advantages of the good or service.

The structure and culture should support innovation, research and development and creativity in a differentiated biotechnology organization. Teams should be cross functional, multicultural, and encouraged to take chances and try out novel concepts. The organizational structure and culture of a low cost fast-food chain should encourage effectiveness, cost reduction and process improvement.

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Answer:

Details about who the policy affects is the correct answer.

Explanation:

The applicability section of a policy document ought to incorporate subtle elements almost who the policy affects, or in other words, who is subject to the policy. This area ought to depict the scope and reach of the arrangement, and distinguish any people, bunches, or substances that are influenced by the approach. It ought to to show any exemptions or uncommon cases where the arrangement may not apply.

              Whereas points of interest about how to execute the policy, when the policy is implemented, and why the approach is required are all critical to incorporate in a policy report, they are ordinarily secured in other segments of the report such as the execution, authorization, and method of reasoning areas, separately. The applicability section ought to center particularly on distinguishing the groups or people to whom the policy applies.

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