Title: Explain why companies use competitive bidding and explain the advantage of using it. Introduction In the modern businesses‚ selecting the qualified suppliers becomes more and more important activities for the companies. Lots of companies use the method of competitive bidding‚ which is commonly used for selecting suppliers. Transparent procurement method in which bids from competing contractors‚ suppliers‚ or vendors are invited by openly advertising the scope‚ specifications‚ and terms
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Explain why market prices are useful to a financial manager. A market price is the current price at which an asset or service can be bought or sold. (investopedia.com). Market prices are very useful to a financial manager. It helps with financial planning and it reflects the value of the assets based on GAAP (which refers to the Generally Accepted Accounting Principles). GAAP is just a set of guidelines that must be followed when it comes to any type of financial practice. Market price is also
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terms as well as ethics. referring to page 400 of textbook. -Is it in best interest of self/city -Framework for ethical decision making – textbook -who will be affected. Do good/harm to different group of people -in difficult situation - why does am have to overbudget. Suggestion to improve‚ by city governer. real life examples. Allowed if under supporting evidence. Covering topic : Introduction to managerial accounting Budgetary Planning and Control. Ann Paxton is the manager of the
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4. Explain why economists usually oppose controls on prices. The reason most economists are usually oppose about price controls is that they distort the allocation of resources. Price ceilings‚ which prevent prices from exceeding a certain maximum‚ cause shortages. Price floors‚ which prohibit prices below a certain minimum‚ cause surpluses‚ at least for a time. For example‚ let’s say that the supply and demand for milk and eggs are balanced at the current price‚ and that the government then fixes
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Who does not want to have a superpower? Having a superpower is everyone’s desire. There are many different opinions of what superpower does one want to have. Flying‚ inhuman strength‚ invisibility‚ and many more are just a small example of superpower that humans want. However‚ Bill Gates and Melinda Gates are different‚ because they said that they want more time and more energy as their superpower. More time and energy are the only superpower that could bring all humans in this world to live a better
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Explain the strategies for competitive advantage. The challenge for a marketing strategy is to find a way of achieving a sustainable competitive advantage over the other competing products and firms in a market. A competitive advantage is an advantage over competitors gained by offering consumers greater value‚ either by means of lower prices or by providing greater benefits and service that justifies higher prices. Porter suggested four "generic" business strategies that could be adopted in order
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Why do companies need a strategy? Strategy is very important for a business. Without a strategy an existing business can drift away from its customers and become uncompetitive with its environment and eventually the business will stop making profit. This is known as strategic drift. In other words‚ having a strategy is a way to remain competitive or it is a way of forcing a strategic change when an organisation has drifted away from its environment and is staring to fail. Lately‚ these strategic
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Explain why the Decree for the Protection of people and state was issued in February 1933 (12 marks) The Decree for the Protection of People and State‚ also known as the Reichstag Fire decree‚ was issued by the Hitler in February 1933 and was essentially a means for the Nazis to consolidate their power. The decree suspended many of the civil and political rights that had been brought about under the Weimer constitution. It restricted various liberties such as private telephone calls and allowed the
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follow evil. Do you believe the illuminati is real or fake and why? The illuminati are used in music to influence new worshippers or to give out a message that the devil is powerful. There are many conspiracy theories that people believe that some musicians are influencing or brainwashing many other people.
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increasingly important. That question is: do animals have rights? Here we examine what gives humans their rights and see why animals are entitled to the same rights based on the same claims for human rights. There is no evidence that supports human’s rights and also clearly excluded animals. In order to answer this question which comes up so frequently‚ the question its self must be clarified. What do we mean by animals? And what to mean by rights? Humans have been given a set of rights at birth‚ so we are
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