Understanding Business
11th Edition
ISBN: 9780078023163
Author: William G Nickels, James McHugh, Susan McHugh
Publisher: McGraw-Hill Education
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Chapter B.3, Problem 6TP
Summary Introduction
To discuss: The ways in which computer network changes the way of gathering information by employees.
Introduction: Information refers to the details, data, and statistics about a thing or person. Information refers to raw data when compiled, organized, and arranged in a manner that it gives a useful form to the data.
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Background information: Innovation can be simply defined as the introduction of something new or different in the workplace. Creativity on the other hand could be described as the use of the imagination for original ideas.
Talk about the difference between innovation and creativity in the workplace and the role that technology plays in fostering both innovation and creativity
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In procurement evolution, which statement below should i choose to be themost relevant to ‘limited integration phaseSupply management is often viewed as a lower-level support function.It is the final and most advanced phase of procurement evolution.Supply managers' primary role is to ensure enough supply capacity exists.Supply management is a key part of the organisational structure with a strongexternal customer focus.
Which of the following stages of P2P process is believed most critical for the spendperformance of procurement?Supplier evaluation and selection stagePayment and settlement stageRecognition of needs stageClarification of needs stage
Chapter B Solutions
Understanding Business
Ch. B.1 - Prob. B.1AQCh. B.1 - Prob. 1TPCh. B.1 - Prob. 2TPCh. B.2 - Prob. B.2AQCh. B.2 - Prob. 3TPCh. B.2 - Prob. 4TPCh. B.2 - Prob. 5TPCh. B.3 - Prob. B.3AQCh. B.3 - Prob. B.3BQCh. B.3 - Prob. 6TP
Ch. B.3 - Prob. 7TPCh. B.4 - Prob. B.4AQCh. B.4 - Prob. 8TPCh. B.4 - Prob. 9TPCh. B.5 - Prob. B.5AQCh. B.5 - Prob. B.5BQCh. B.5 - Prob. B.5CQCh. B.5 - Prob. 10TPCh. B.5 - Prob. 11TPCh. B - Prob. 1CTCh. B - Prob. 2CTCh. B - Prob. 3CTCh. B - Prob. 1DWSCh. B - Prob. 2DWSCh. B - Prob. 3DWSCh. B - Prob. 4DWSCh. B - Prob. 5DWSCh. B - Prob. 1TITCh. B - Prob. 2TITCh. B - Prob. 3TIT
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- Which of the following statements is most accurate in describing ‘preferredsuppliers’?A preferred supplier involves a lower-level risk but still has a significant spend with thebuyer.They will be asked to compete with other suppliers for better price and conditions.They refer the strategic partners of the company.They are the core suppliersarrow_forwardThe primary purpose of this coordination is to establish company-wide agreementsto leverage volumes to obtain lower costs from volume discounts.” Which phase ofprocurement evolution is more relevant to the statement?Phase 1 Basic beginningPhase 2 Moderate developmentPhase 4 Fully integrated supply chainPhase 3 Limited integrationarrow_forwardAmong the phases of procurement evolution, the phase that ‘focuses on supplybaseoptimisation, and more attention is paid to total quality management (TQM) than toother progressive supply management strategies’ is more relevant to ___________.Phase 1 Basic beginningPhase 3 Limited integrationPhase 4 Fully integrated supply chainPhase 2 Moderate developmentarrow_forward
- Which of the following description methods is most suitable if the requirements arewell understood and there is common agreement between supply chain partners aboutwhat certain terms mean?Description by specificationDescription by brandDescription by industry standardDescription by performance characteristicsarrow_forwardWhich of the following activities is not a part of P2P cycle?Receipt of materialsForecast and plan requirementContract management to ensure suppliers fulfil their contractual obligationsNeed clarificationarrow_forward“The steps that must be completed when someone within the organisation requires aproduct, material, or service” is typically presented as _______________.Ordering processSupplier evaluation and selection processPurchasing and supply chain managementProcure-to-pay cyclearrow_forward
- Which of the following statements is most suitable to describe the concept of ‘extended value chain? 1) It is a higher-level recognition of the strategic value of managing operational activities and flows within and across a supply chain. 2)It involves multiple organizations as we move toward the raw material suppliers or downstream toward the ultimate customer. 3) It recognizes explicitly that competition is no longer between firms but rather between coordinated supply chains or networks of firms. 4) It is a supply chain to brings back defective products for repair and quickly returns them to customers.arrow_forwardThe equity method of accounting is suitable for investments representing what? A) Less than 20% ownership B) Only for foreign investments C) More than 50% ownership D) Between 20% and 50% ownershiparrow_forwardPlease original work Using the resource barrier as one of the four main barriers to strategy execution (The resource barrier) talk about how the balanced scorecard serves to overcome this barrier. What is a real-life example of a company that used a balanced scorcard to address this barrier. Please cite in text references and add weblinksarrow_forward
- What is the cycle time , flow time ,inventory encounter, and amount of vehicles being produced in a Tesla car plant assuming two shifts of 8 hours each at 5 days a week?arrow_forwardWhy would it be easier to sell or solicit information about solar panels to younger generations versus older in caliarrow_forwardWhy is it important as an employee physical therapy company, should consider language as a sociocultural factor? What other factors would you implement?arrow_forward
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