Discuss a business’ ability to integrate new technology into its processes and procedures. a) Discuss the impact on: (30) • Innovation • Systems • People. 50 b) Explain how this new technology will improve efficiency and effectiveness in running a successful business.
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- 38) Find out the microeconomic factor that affects the specific business organization. a. Demand b. All c. Market size d. SupplyDefine ‘business ethics. (B) Explain how the focus on ethical and social responsibilities can be advantageous to a business. Provide ONE example to illustrate your answer.1- The world’s most innovative companies have largely created structures that remove structural barriers. They have established an innovation culture and improved their innovation capability. This refer to a) Process innovation b) Management innovation c) Organizational innovation d) Services innovation 2- If a company has a large variety of processes in the manufacturing and a low volume of jobs then the right type of “Product Process Type” would be…..… a) Project b) Jobbing c) Batch d) Mass 3- The various systems needed to ensure industrial plants operate smoothly to produce goods and services. Within such a system, operators monitor, control, and fix the components that help run everything from power plants to water refineries to manufacturing facilities. a) Process innovation b) New product lines c) Process technology d) Sequential model
- 1.3 Differentiate amongst total product, average product and marginal product. Motivate your answer with the aid of examples.27. Which of the four characteristics of general purpose technologies have the least impact on productivity.A. It must have a WIDE SCOPE for improvement and elaborationB. It must be APPLICABLE across a broad range of usesC. It must have a POTENTIAL USE in a wide variety of products and processesD. It must have strong COMPLEMENTARITIES with existing or potential new technologiesQuestion (2): Solve the following problem: Hussein Plastics produces plastic containers for use in the food packaging industry. Last year its average monthly production included 20 000 containers produced using one shift five days a week with an eight -hour -a -day operation. Of the items produced 15% were deemed defective. Recently, Hussein plastics has implemented new production methods and a new quality improvement program. Its monthly production has increased to 25000 containers with 9 percent defective. (a) Compute productivity for the old and new production system per month. (b) Compare the changes in productivity between the two production systems.
- 2. The company that you manage has already spent $5 million on developing a new product – a website that combines You Tube, Twitter, and Facebook – called You Twit Face. The development is not quite finished. It will cost an extra $3 million to finish development and complete the product. At a recent meeting, your salespeople report that the expected sales of your new product (if you finish) are $7 million total. If you do not finish developing the product you can sell the incomplete product to another company for $2 million. What is the MC of finishing the development? __________________ What is the MB of finishing the development? __________________ Should you finish the product? Why or why not? Use the idea of “thinking at the margin” to explain your answer.Question-2) What is the name of the ideas that can be transformed into products and services that will provide value to the customer, profit to the entrepreneur, benefit to the society. a) Creativity b) Business idea c) Innovation d) Innovation e) Entrepreneurship2. Part a, b, c
- 1. It is said that Medieval Europe was a filthy place, while Medieval Japan was much cleaner. This would result in a much higher death rate in Europe. (b) Assume that the soap was introduced in "Malthusian" Europe so that the death rate decreases permanently. What happens to European income per capita in the short-run and the long-run? What happens to population? Describe the evolution on the graphs. (c) Suppose now that when the soap is introduced in "Malthusian" Eu- rope, people start using it for a few years because it's in fashion, but stop after a while. How would income per capita and population evolve?6. Part a and Part BWhat's true about Business planning? [Select all that apply] O Business planning is an ongoing process of decision making. D It guides the firm in both the short term and the long term. O Planning identifies and builds on a firm's strengths. O It helps managers at all levels make informed decisions in a changing business environment. O Planning means thal an organization develops objectives before it takes action.