In a difficult economic climate, Renault has been able to adapt to changing consumer demands. Its ability to offer more economical product offerings to its European consumer base has helped it maintain its competitiveness while also transforming its organizations. Renault has been able to implement a low-cost strategy by instituting more simple auto designs and focusing on simplicity, ease of manufacturing, and availability. This approach has increased its profitability and market competitiveness. Read the case below and answer the questions that follow. The European economic crisis has changed how Renault, a French carmaker, designs and produces cars for European customers. Historically, European car buyers have been sophisticated, demanding well-designed, feature-laden cars from manufacturers. When the economic crisis hit Europe in 2007, automakers saw a dramatic shift in demand. Overall demand dropped, and the customers who did come in to buy became much more cost conscious. In these difficult conditions, Renault has been able to carve out a profitable market for itself, selling low-cost, no-frills cars. Renault responded to this shift by creating an entry-level car group that was charged with designing and producing cars for these more cost-conscious consumers. For example, it took an ultra-cheap car, the Logan, that was originally aimed at emerging markets, and redesigned it to meet the new needs of the European market. The boxy sedan, which sells for around $10,000, is now one of Renault's best sellers. Its entry-level cars accounted for 30 percent of the cars sold by Renault in 2011 and generated operating profit margins over twice the profit margins of the higher-priced cars Renault sold. What is the recipe for success Renault has found to generate high profits on low-price cars? It uses simple designs that incorporate components from older car designs at Renault and employs a no-discount retail policy. At the center of its design procedure is a "design-to-cost" philosophy. In this process, designers and engineers no longer strive for the cutting edge. Instead, they focus on choosing parts and materials for simplicity, ease of manufacturing, and availability. This often involves using components that were engineered for prior vehicle designs. When needing a new component, Renault begins by assessing how much customers would be willing to pay for certain features, such as air conditioning or power door locks, and then asks suppliers whether they can propose a way to offer this feature at a cost that matches what customers are willing to pay. As it faces imitation of this strategy by Volkswagen and Toyota, Renault is not sitting idle. As Carlos Ghosn, Renault's CEO, stated, "Our low-cost offering isn't low-cost enough. So we're working on a new platform that will be ultra low-cost." Sources: Pearson, D. 2012 Renault takes low-cost lead. wsj.com, April 16: np.; and Ciferri, L. 2013. How Renault's low-cost Dacia has become a "cash cow." Automotive News Europe, January 3: np. How did the economic crisis in Europe impact automakers?
Answers
Answer:
The economic crisis in Europe caused a shift in demand, with overall demand dropping and customers becoming much more cost conscious. European car buyers began demanding more low-cost, no-frills cars from manufacturers.
Related Questions
which of the following statements accurately reflect how ethical standards vary among different cultures? (choose every correct answer.) multiple select question. european managers, in contrast to chinese managers, tend to emphasize business standards that protect workers' freedom of political opinion. chinese managers, in contrast to american and european managers, are likely to establish ethical standards that protect human rights. japanese managers, in contrast to managers in other countries, are likely to highly value showing respect for the collective good of society. managers in muslim countries, in contrast to european managers, tend to derive business ethics from secular standards instead of religious values.
Answers
Ethical standards can vary significantly across different cultures, and it is important to understand these variations in order to conduct business effectively in different regions of the world. Some of the statements listed accurately reflect these differences.
European managers tend to emphasize business standards that protect workers' freedom of political opinion, which may not be a priority for Chinese managers who may prioritize other values. Chinese managers are likely to establish ethical standards that protect human rights, which may differ from the priorities of American and European managers. Japanese managers highly value showing respect for the collective good of society, which is not necessarily the case for managers in other countries. Finally, managers in Muslim countries tend to derive business ethics from secular standards rather than religious values, which may be different from the approach of European managers. It is important to be aware of these cultural differences and to respect them in order to build successful relationships and conduct ethical business practices in different parts of the world.
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write on perfect competition
Answers
How does a project manager evaluate the scope of a project?
Determine the overall work that needs to be completed to deliver the desired product, service, or end result
Estimate some of the resources that are needed to deliver the desired product, service, or end result
Evaluate the time it will take to deliver the desired product, service, or end result
Guess how much money it will cost to deliver the desired product, service, or end result
Answers
Stating in an answer for future reference, it's A, "Determine the overall work that needs to be completed to deliver the desired product, service, or end result".
No "Tutor" needed.
which of the following statements is correct regarding major influences on business buyer behavior?A.Emotion plays an important role in business buying decisions.B.Culture is more important to domestic B-to-B marketers than to global B-to-B marketers.C.Marketers in the B-to-B market are not concerned with competitive developments in their environment.D.Interpersonal factors have little influence on business buyer behavior.E.Economic factors have little influence on business buying decisions.
Answers
A: "Emotion plays an important role in business buying decisions" is correct regarding major influences on business buyer behavior.
In business buyer behavior, it is commonly recognized that emotions do play a significant role in the decision-making process. While logic and rationality are important factors, emotions can also influence the choices made by business buyers. This is particularly true in situations where there are personal preferences, brand loyalty, or emotional attachments to certain suppliers or products.
Emotional factors can include feelings of trust, confidence, satisfaction, and even personal relationships with suppliers. These emotions can influence the perception of value, the level of commitment to a supplier, and the overall satisfaction with the buying decision.
The correct answer is option A.
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the marginal cost curve intersects the average variable cost curve at: a its maximum. b its endpoint. c all points; the curves are the same. d no point; the curves don't intersect. in its lowest point.
Answers
In economics, the marginal cost curve intersects the average variable cost curve at the minimum.
What is the relationship between both curve?In micro-economics, when marginal cost and average variable cost curves are plotted, the average variable cost appears to be U-shaped and the marginal cost intersects with the average variable cost curve at its lowest point.
This situation of the graph depicts that the marginal cost intersects the average variable cost at the minimum point. Therefore, the word "minumum" is the correct answer.
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How do you write a professional bio about yourself?
Answers
If you work in a profession where it is appropriate, you should include your name and title in your professional bio.
You must provide your name and the title of your present position in the first sentence of your brief bio. Say, "Sarah Hayes is the Senior Marketing Director for Blooming Street Creative," as the first sentence of your bio. You might put your most recent title or your college major if you are actively looking for work.
Include significant professional positions and accomplishments in your biography. Include your interests, passions, and the way you apply your values to your work. a description of your background as a worker, businessperson, or professional.
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1) Sally and James' daughter just turned 5 and they have some money that they could set aside for
their daughter. They want to make sure she will have $12,500 for her 17th birthday so she could use
that
money
to
go on an overseas trip. If they found an account that would pay 3.9% annual interest,
How much do they have to put into the account now? *
Answers
Answer:
$7,898
Explanation:
The $12,500 is equivalent to the future value of the invested amount.
using the formula
where A is future amount,
Pi= principal or invested amount,
t = time 12 years ( the difference between 17 and 5 years)
r= is interest rate of 3.9% or 0.039 %
A = P(1 +rt)^n
$12,500= P(1 +0.039)^12
$12,500 = P(1.5827)
P=$12,500/1.5827
P= $7,897. 89
P=$7,898
if over a short time there is an increase in the number of people retired and a decrease in the number of people working, then productivity
Answers
If the number of people retiring and the number of people working decreases, productivity will increase.
Productivity:
Is the amount of goods and services produced per workerGenerally increases as number of workers increasesIf the number of people retiring increases and at the same time, the number of people working decreases, a situation arises where there will be fewer workers to produce goods and services thereby leading to a rise in productivity because less people will have to do the work of more people.
In conclusion, a decrease in the number of people working including by means of retirement, would lead to productivity increasing.
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What is improved oven? in your own words.
Answers
Answer:
improved oven means improved cooking
What happens to LIFO when prices are rising?
Answers
LIFO (last-in, first-out) assumes that the latest products purchased will be the first ones to be sold. In a rising price environment, the price of the last purchased inventory item will be higher than that of the first inventory item, resulting in a higher cost of goods sold (COGS) and lower earnings.
As a result, rising prices negatively affect LIFO because LIFO is less suitable for a rising cost environment. For tax purposes, most businesses utilize LIFO accounting since it results in a lower profit and lower tax liability. It works well in a deflationary or stable pricing environment, but when prices rise, LIFO does not perform well.LIFO reserve is a measurement used by businesses that use LIFO accounting to evaluate the cost of their inventory.
Because LIFO accounting does not account for the actual cost of inventory in financial statements, the LIFO reserve is used to display the difference between the current cost and the inventory cost that would be reported if FIFO accounting were used instead. When prices rise, LIFO reserve rises as well.
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a visual representation of the many links between a lead firm and its suppliers, superimposed on a geographical map, is called a
Answers
A visual representation of the many links between a lead firm and its suppliers, superimposed on a geographical map is called a: supply chain map.
What is supply chain mapping?
Supply chain mapping means gathering information about your suppliers, your own suppliers, and the people working in your supply chain to create a global he map of your supply network. This information may be stored in a single data platform for simplicity and ease of analysis.
Process of supply chain mapping :The process of gathering information from companies, suppliers, and people involved in the company's supply chain to create a global map of the supply network is known as supply chain mapping (SCM). For example, you can see maps of all shipments used and the exact origin of all materials. The company's supply network analyzes accurate information available at every link in the supply chain to help identify opportunities and mitigate risks.
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Select two learning styles from the following list. Describe ways in which each of the two learning styles prefer to learn. Bodily/kinesthetic, interpersonal, intrapersonal, logical/mathematical, naturalistic, rhythmic/musical, verbal/linguistic.
Answers
Answer:
interpersonal
positive behaviors used when interacting with others
intrapersonal
relationship with self
Explanation:
I really don't have an explanation sorry
A company sells equipment for $5,000. The original cost was $50,000. The
accumulated depreciation is $45,000. The sale results in
O A. a gain of $1,000
a
B. neither a gain nor a loss
O c. a loss of $1,000
D. a gain of $5,000
Answers
Assuming the company sells equipment for $5,000 and the original cost was $50,000. The sale results in: B. neither a gain nor a loss
Gain or lossFirst step is to calculate the book value using this formula
Book value=Original cost-Accumulated depreciation
Let plug in the formula
Book value=$50,000-$45,000
Book value= $5,000
Second step
Since the proceeds (equipment) is the amount of $5,000 in which the book value is as well $5,000 there is neither gain nor a loss.
Inconclusion the sale results in: B. neither a gain nor a loss.
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Choose the option that best matches the description given.
I handle the basic management of our employees and am the face you see in the media.
a)shareholder
b)officer
c)board of directors
Answers
Answer:
I think c. board of directors
OFFICERRRRRRRRRRRRRRR
Which statement about the Statute of Frauds is correct?
O A. The statute makes contracts voidable.
O B. It requires some contracts to be in writing.
C. It makes a written contract unenforceable.
D. Its origins began in Colonial America.
Answers
All written contracts must have definite and certain terms. Only certain types of contracts need to be in writing.
Answer:
B. It requieres some contracts to be in writingExplanation:
Multiple choice question 81 in moyer company, the cutting department had beginning work in process of 6,000 units, transferred out 16,000 units, and had an ending work in process of 3,000 units. How many units were started by moyer during the month? 19,000. 10,000. 13,000. 16,000
Answers
Moyer launched 13,000 units throughout the month. Hence, 13,000 is the correct answer.
What does work in the process means?Work in progress, goods in process, or in-process inventory refers to a company's partially completed products that are awaiting completion and ultimate sale, or the worth of these things. WIP is a critical input for computing inventory on a company's balance sheet, and it is utilized in supply chain management.
WIP inventory refers to things that are in production but have not yet been completed. WIP inventory is consolidated into the inventory line under current assets on the balance sheet, along with raw materials and completed items.
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marketers create value for customers when they develop products that allow consumers to satisfy their needs and wants through exchange relationships
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When marketers create products that enable consumers to meet their needs and wants through trade interactions, they add value for consumers.
A marketer is someone who is in charge of establishing a connection or we can say value between the customer and the products or service that the business is providing by exchange relationships. This engagement is attained by keeping enormous inventories of products for supply or by effectively marketing the product to encourage significant sales. However, when marketers enter the picture, a significant misunderstanding results. Despite the fact that the terms sound relatively similar, there is a significant difference on a variety of levels.
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To buy a product, customers in a market must first
Answers
To buy a product, customers must first have the need for the product.
Customers cannot just simply buy anything or everything when it comes to products. People love shopping but money is a very useful and powerful resource and customers understand it well, so they don't want to spend it on useless things.
Firstly, there should be a need or a desire to buy a particular product. After that the customer decides his or her budget or the money he would like to spend on that product. If it crosses his or her budget, then the customer may not able to buy the product.
Lastly, there should be willingness to buy the product. Nowadays, we get impressed by big brands, malls and stores giving us immense discounts for even our daily needs. That is how knowingly or unknowingly, we tend to shop more.
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Carl is an electrician. A new building is starting construction. Carl would like to win the contract for
electrical work for the building. He should
do nothing; they will contact him if they need his work
O send a resumé
O call and leave a long voicemail that gives prices and procedures
O create a type of business report called a business proposal
Answers
A enterprise idea is a formal report that's created by means of a enterprise and furnished to a prospect to invulnerable a commercial enterprise agreement. It's a frequent misconception that enterprise proposals and enterprise plans are the same.
The notion targets to promote your product or carrier alternatively than your enterprise itself.
What is called business proposal?Image end result for TO create a type of commercial enterprise document called a commercial enterprise proposal
A commercial enterprise proposal is a document that outlines a proposed enterprise plan, detailing the product or services to be provided, the fees related with the project, and the predicted outcomes.
Is a business concept a report?Some human beings tend to use them interchangeably, though they refer to two kinds of professional documents. A formal research record is carried out to see if a workable assignment will succeed, while a business notion is written with the intention of beginning a new product.
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Blue Spruce Corp. issued $7,200,000 of 8% bonds on October 1, 2020, due on October 1, 2025. The interest is to be paid twice a year on April 1 and October 1. The bonds were sold to yield 10% effective annual interest. Blue Spruce Corp. closes its books annually on December 31. Complete the following amortization schedule for the dates indicated. Use the effective-interest method.
Answers
Blue Spruce Corp. issued $7,200,000 of 8% bonds on October 1, 2020, with a maturity date of October 1, 2025.
The interest on these bonds is paid twice a year, on April 1 and October 1. The bonds were sold to yield an effective annual interest rate of 10%. Blue Spruce Corp. follows the effective-interest method and closes its books annually on December 31. An amortization schedule needs to be completed for the specified dates.
In the amortization schedule, the effective-interest method is used to allocate interest expense over the life of the bonds. This method takes into account the carrying value of the bonds and the effective interest rate to calculate interest expense. The interest payment on April 1 and October 1 is based on the bond's face value, while the interest expense recognized on December 31 is based on the carrying value of the bonds. The schedule will show the interest expense, interest payment, and the changes in the carrying value of the bonds for each period until maturity.
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the owner of consigned goods is called the and the one who sells goods for the owner is called the :
Answers
Answer:
consignor, consignee
Explanation:
Answer:consignor, consignee
Explanation:
The table shows the terms of a fixed-rate mortgage.
Which accurately describes the terms of this mortgage? Check all that apply.
The homeowner is borrowing $360,000.
The monthly interest rate is 4 percent.
Monthly payments must be made for 30 years.
The annual interest rate is 4.8 percent.
The homeowner is borrowing $200,000.
Monthly payments must be made for 360 years.
Answers
The fixed-rate mortgage concept is used in home loans. Monthly payments for 30 years, the interest rate is 4.8%, and borrowing $200,000.
What is a fixed-rate mortgage?It is usually used in home loans with a fixed interest rate during the term of the loan. It is beneficial because once the rate of interest is fixed it is not influenced by the increase in the rate in the future.
C - Monthly payments for 30 years.
D - The interest rate is 4.8 % annually
E - borrowing $200,000.
Therefore, options C, D, and E explain the fixed-rate mortgage.
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BUSINESS FLOOR STAFF
15. Executive floors sometimes have a stocked
Answers
Hotels frequently refer to their executive floors as a "hotel within a hotel." You get special treatment from the employees on these levels, a dedicated desk for checking in and out, and solitude from the throng of guests on the hotel's standard floors.
What causes my flooring to sag?These are the most frequent causes: Being a natural product, solid wood is highly sensitive to moisture in the air and on the walls. The wooden floor can absorb moisture if your home has a wet issue or if there is excessive moisture in the space, which will eventually cause the boards to wobble.
What is the hotel executive lounge?It's a lounge inside the hotel reserved for top-tier members or guests staying in Executive or better rooms. Free snacks and beverages are offered in the lounge, and alcohol is occasionally made available (normally for a few hours in the evening).
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Explain the differences between qualitative and quantitative forecasting techniques and when each one is appropriate to use in forecasting.
Answers
Qualitative forecasting is based on the information that cannot be measured while quantitative forecasting relies on historical data.
What is forecasting?It should be noted that forecasting uses historical data to predict future trends.
In this case, qualitative forecasting is based on the information that cannot be measured while quantitative forecasting relies on historical data.
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How often should supervisors, in all departments, conduct a safety inspection? A. Weekly B. Hourly C. Daily D. Monthly E. Twice each day
Answers
The frequency of safety inspections by supervisors in all departments would depend on various factors, such as the nature of the work being carried out, the equipment involved, and the potential risks and hazards in the workplace. However, in general, safety inspections should be conducted at least once a month.
Monthly safety inspections will allow supervisors to identify and address potential safety hazards before they become major problems. This will help prevent accidents and injuries and ensure that employees can work in a safe and healthy environment. However, in certain industries or workplaces where the risk of accidents or injuries is higher, more frequent safety inspections may be necessary.
Regardless of the frequency, safety inspections should always be conducted by trained and qualified personnel who can identify hazards and recommend appropriate corrective actions. Furthermore, any hazards identified during inspections should be addressed promptly to prevent accidents and ensure workplace safety.
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Supervisors in all departments should conduct safety inspections on a regular basis. The frequency of these inspections should be tailored to the specific needs of each department and the potential risks associated with the work being done.
Generally, safety inspections should be conducted at least monthly or weekly, depending on the type of work and the potential risks. For example, a department that handles hazardous materials may require more frequent safety inspections than a department that does not.
Additionally, more frequent inspections may be necessary if there have been any recent changes in the workplace, such as new equipment or procedures.
In order to ensure the safety and well-being of employees, supervisors should take the time to conduct safety inspections regularly.
These inspections should be conducted in an organized and thorough manner, taking into account all aspects of safety in the workplace. Supervisors should also ensure that all safety protocols are being followed and that any hazards are identified and addressed promptly. Regular safety inspections are an important part of keeping employees safe and healthy and should not be neglected.
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The General Fund of the City of Bangor purchased water from its Water Utility Fund in the amount of $20,000. The General Fund would debit: A) Water Expense. B) Other Financing Uses-Transfers Out. C) Expenditures Control. D) None of the above; no entries would be made.
Answers
The General Fund of the City of Bangor would debit: B) Other Financing Uses-Transfers Out. This entry reflects the transfer of funds from the General Fund to the Water Utility Fund for the purchase of water.
When the General Fund purchases water from its Water Utility Fund, it is essentially transferring funds from one fund to another within the city government. The General Fund is responsible for various expenses and obligations of the city, while the Water Utility Fund specifically deals with water-related operations and services.
By debiting "Other Financing Uses-Transfers Out," the General Fund acknowledges that it is using funds for a transfer to another fund. This entry helps maintain accurate accounting records and ensures transparency in the financial transactions of the city government.
The other options, A) Water Expense and C) Expenditures Control, are not appropriate in this scenario. "Water Expense" would be used if the General Fund incurred expenses related to water usage, which is not the case here. "Expenditures Control" is a general account used to monitor and control expenditures but does not capture the specific nature of this transaction.
Therefore, the correct entry would be B) Other Financing Uses-Transfers Out.
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Which of the following is a protected class?
A. Educational status
B. Marketers
C. Benefits
D. Age
Answers
Answer:
D. Age
Explanation:
Protected class refers to the class in which the employees protected from discrimination by law. It can be in terms of age, religion, race, color etc. The persons who have age of 40 years or above is covered under the Age Discrimination in Employment Act (ADEA).
Therefore according to the given situation the correct answer is D.
Which person's unemployment is an example of frictional unemployment?
А
a rocont collogo graduato who is sooking to enter the workforce for the first timo
B
a factory worker who was laid off during a recession in order to cut operating costs
a retail salesperson who is looking for work after a period of seasonal employment at a departmen
D
an inexperienced computer programmer who lacks the human capital sought after by employers in
Answers
if a firm uses the same company cost of capital for evaluating all projects, which situation(s) will likely occur?
Answers
The company will dismiss worthwhile, low-risk projects. The company will take on risky, subpar initiatives
The required return on the current firm assets is known as the cost of capital. It is founded on asset risk.
The weighted average risk of the firm's debt, preferred stock, and common equity is equal to the risk of the total assets of the company.
A company's cost of capital is equal to the weighted average of its costs for debt, preferred stock, and common equity.
Since every project has a unique risk profile, employing a single cost of capital to evaluate all projects could produce false findings, causing an investor or business to approve high-risk initiatives or reject low-risk ones.
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When making decisions, managers often must decide between doing what is beneficial for the firm in the short term, and what is beneficial for both the firm and society in the long term. To address this conflict, a firm must
Answers
When making decisions, managers are often faced with a conflict between what is beneficial for the firm in the short-term and what is beneficial for both the firm and society in the long-term.
This conflict arises because the actions that benefit the firm in the short-term may not necessarily align with the interests of society as a whole, which can lead to negative consequences for both the company and society in the long-term.
To address this conflict, a firm must adopt a long-term orientation and consider the broader social and environmental impacts of its decisions. This means looking beyond immediate financial gains and recognizing that actions taken today can have far-reaching implications for the company's reputation, customer loyalty, employee morale, and overall sustainability.
Firms that prioritize social responsibility and sustainable business practices are more likely to build strong relationships with stakeholders, including customers, employees, investors, and regulators. They are also better equipped to weather economic downturns and other disruptions, as they have diversified their risk and invested in building resilient supply chains and communities.
Ultimately, the key to addressing the conflict between short-term gains and long-term benefits is a commitment to corporate social responsibility (CSR) and sustainable business practices. By prioritizing the needs of society and the environment alongside those of shareholders, firms can create value for all stakeholders over the long-term, ensuring their continued success and impact.
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