Key Success Factor: To meet the demand of delivering ever-improving levels of performance, the companies are required to use the value chain and supply chain in most effective ways. The important key success factors are as follows: Cost and efficiency: There is tremendous pressure on managers to reduce the cost of the products or services. In order to calculate and reduce the cost, the managers must understand all the costs that incurred from setting up machines to finally delivery to its customers. Apart this, the managers need to closely watch the marketplace to determine the amounts that a customer is willing to pay. They need to eliminate certain cost in order to reach target price. Quality: Customer demands ever-improving quality of products and services. This is also an integral philosophy of total quality management (TQM). Using TQM, companies can produce products or services with zero defects and waste, and minimizes the inventory levels. Time: It has two dimensions, new-product development time and customer-response time. The increasing pace of technological innovation has led to shorter product life cycles and more rapid introduction of new products. Customer-response time is the speed at which an organization responds to customer request. The organizations are required to meet their promised dates as well as reduce their delivery times. Innovation: The organizations are innovating products, services, strategies, business models, promotion, and distribution efforts in order to beat the ongoing competition. Managers have to depend upon their R&D department for evaluating alternatives and providing innovating business models, services, and marketing plans. Sustainability: The organizations are implementing the above four key success factors to promote sustainability in the development and implementation of strategies, which eventually promotes long-term financial, social, and environmental goals. To ascertain: The linkage of given changes to the key success factors.

Question

Want to see the full answer?

Answer 1

Question

Chapter 1, Problem 1.20E

To determine

Key Success Factor:

To meet the demand of delivering ever-improving levels of performance, the companies are required to use the value chain and supply chain in most effective ways. The important key success factors are as follows:

Cost and efficiency: There is tremendous pressure on managers to reduce the cost of the products or services. In order to calculate and reduce the cost, the managers must understand all the costs that incurred from setting up machines to finally delivery to its customers. Apart this, the managers need to closely watch the marketplace to determine the amounts that a customer is willing to pay. They need to eliminate certain cost in order to reach target price.

Quality: Customer demands ever-improving quality of products and services. This is also an integral philosophy of total quality management (TQM). Using TQM, companies can produce products or services with zero defects and waste, and minimizes the inventory levels.

Time: It has two dimensions, new-product development time and customer-response time. The increasing pace of technological innovation has led to shorter product life cycles and more rapid introduction of new products. Customer-response time is the speed at which an organization responds to customer request. The organizations are required to meet their promised dates as well as reduce their delivery times.

Innovation: The organizations are innovating products, services, strategies, business models, promotion, and distribution efforts in order to beat the ongoing competition. Managers have to depend upon their R&D department for evaluating alternatives and providing innovating business models, services, and marketing plans.

Sustainability: The organizations are implementing the above four key success factors to promote sustainability in the development and implementation of strategies, which eventually promotes long-term financial, social, and environmental goals.

To ascertain: The linkage of given changes to the key success factors.

Expert Solution & Answer

Want to see the full answer?

Check out a sample textbook solution

See solution

Students have asked these similar questions

ayco Inc. started its operations in 2022. Its sales during 2022, all on account, totalled $700,000. The company collected $500,000 in cash from customers during the year and wrote off $8,000 in uncollectible accounts. The company set up an allowance for doubtful accounts at December 31, 2022, its fiscal year-end, and determined the account balance to be $14,000. The unadjusted balances of selected accounts at December 31, 2023 are as follows: Accounts receivable $ 300,000 Allowance for doubtful accounts (debit) 10,000 Sales revenue (including 80 percent in sales on account) 800,000 Aging of the accounts receivable on December 31, 2023, resulted in an estimate of $11,000 in potentially uncollectible accounts. Required: 1. Prepare the journal entries to record all the transactions during 2022 and post them to appropriate T-accounts. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)…

Calculate the sample size based on the specifications in Buhi's contract. Make sure it is within budget, reasonable to obtain, and that you use appropriate inputs relative to market research best practices. Use the calculator to adjust the sample size statement. Use the agreed-upon sample size in Buhi's contract: 996. In your secondary research, find the target population size (an estimate of those in the United States looking to purchase luggage in the category in the next two years). You will use this target population size for each sample size estimate. Adjust the provided sample size calculator inputs to find the rest of the figures that get you to the agreed-upon sample size. The caveats from Buhi are that you must: Use the market research standard for your confidence level. Use a confidence interval that is better than the market research standard for your confidence interval.

The partnership of Keenan and Kludlow paid the following wages during this year: Line Item Description Amount M. Keenan (partner) $108,000 S. Kludlow (partner) 96,000 N. Perry (supervisor) 54,700 T. Lee (factory worker) 35,100 R. Rolf (factory worker) 27,200 D. Broch (factory worker) 6,300 S. Ruiz (bookkeeper) 26,000 C. Rudolph (maintenance) 5,200 In addition, the partnership owed $250 to Rudolph for work he performed during December. However, payment for this work will not be made until January of the following year. The state unemployment tax rate for the company is 2.95% on the first $9,000 of each employee's earnings. Compute the following: ound your answers to the nearest cent. a. Net FUTA tax for the partnership for this year b. SUTA tax for this year