Leading and Managing Change Lecture case scenario Two The owner of an established long-term care pharmacy just signed a new hospice contract that will add an estimated 200 new patients to the pharmacy's customer base within 60 days. This will be the pharmacy's first large hospice contract. The pharmacy is located in a suburb of a metropolitan city, and some of the facilities and patient homes are a 40-minute drive from the pharmacy. The existing staff members are concerned about the sudden increase in workload and the need to deal with after-hours prescription orders. How can the owner gain buy-in from the staff regarding this new opportunity? Which resources are needed to implement the new contract successfully? How can management strategize to implement the new contract within a limited amount of time?
Answers
To gain buy-in from the staff regarding the new hospice contract and successfully implement it within a limited amount of time, the pharmacy owner can take the following steps:
1. Communicate the benefits: Clearly explain the positive aspects of the new contract, such as increased business and potential for growth, to the staff. Emphasize how this can lead to long-term job stability and potential career advancement opportunities.
2. Address concerns: Listen to the staff's concerns about the increased workload and after-hours prescription orders. Show empathy and understanding while providing reassurances that their concerns will be addressed in the implementation plan.
3. Provide training: Offer necessary training and resources to help the staff handle the additional responsibilities that come with the new hospice contract. This will equip them with the skills needed to manage the increased workload efficiently.
4. Hire additional staff: If needed, consider hiring additional employees to handle the increased workload and after-hours prescription orders, so that the current staff does not feel overwhelmed.
5. Develop a clear implementation plan: Create a step-by-step plan outlining how the pharmacy will successfully integrate the new contract within the 60-day timeframe. This should include the allocation of resources, hiring and training of new staff, and any operational changes required.
6. Monitor progress and adjust: Regularly assess the progress of the implementation plan and make necessary adjustments based on feedback from the staff and actual performance.
By addressing staff concerns, providing training and resources, and developing a clear implementation plan, the pharmacy owner can gain staff buy-in for the new hospice contract and successfully add 200 new patients to the pharmacy's customer base within 60 days.
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Related Questions
A few year ago, in order to gain market hare, DelRay™, a well-known learning management ytem oftware company ued by many college and univeritie, joined force with WEB Cat™, another learning management ytem oftware company. Both companie were in the ame indutry and originally competed againt one another. In buine, we would call the joining of thee two firm a(n
Answers
In business, the joining of thee two firms is called a merger.
A merger is the joining of two separate companies into a single entity. In this scenario, DelRay™ and WEB Cat™ joined forces to gain market share in the learning management system software industry. Mergers can happen for various reasons, such as to increase market share, expand product offerings, reduce competition, or achieve economies of scale. The end result is a single company that combines the resources, expertise, and market presence of both original companies.
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What is the difference between monetary
and fiscal policy?
A Monetary policy is controlled by the
federal government while fiscal policy
is controlled by the Federal Reserve.
B Monetary policy is controlled by the
Federal Reserve while fiscal policy is
controlled by Congress and the
President.
C They are effectively the same thing.
D Fiscal policy was invented to combat
inflation. Monetary policy was
invented to improve GDP.
Answers
Answer:
B.
Explanation:
Monetary policy is an action taken by the central bank to bring the money supply under control. Under this policy, the central bank also oversees the macroeconomic goals of the nation. The organization that controls the monetary policy is the Federal Reserve of the United States.
Fiscal policy, on the other hand, is a term used to refer to spendings and taxation. Fiscal policy is undertaken by the executive and legislative branches of the government. The executive and legislative branch of the government includes both the President and the Congress.
Therefore, option B is correct.
If the firm’s marginal cost per customer is $30, and the firm wants to follow the profit-maximizing rule, what would be the firm’s quantity of customers and price charged per customer?.
Answers
With the marginal cost per customer, the quantity of customers is 4000 and the price is $60.
What is marginal cost?It should be noted that marginal cost simply means the extra cost that's incurred as a result of the additional output produced.
In this case, from the complete question, with the marginal cost per customer, the quantity of customers is 4000 and the price is $60.
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what are two resources within you that are important when choosing a career you would like
Answers
Answer:
Your happiness
education and training
social environment
Explanation:
Following the 2007-2009 financial crisis, many people feared that Greece might leave the euro and resume using the drachma. If that happened, the drachma might be worth less than the euro. When using fiat money like the drachma, the key to acceptance is that households and firms have confidence that if they accept drachma in exchange for goods and services, the drachma will not lose much value during the time they hold them. If sellers were not willing to accept the drachma in exchange for goods and services, the drachma would not serve as
Answers
Answer:
A medium of exchange
Explanation:
A medium of exchange is a system where it is used to facilitate the sale, purchase, trading of the products & services between the parties
Since in the given situation, it is mentioned that the seller would not willing to accept the drachma in exchange of goods & services so here the drachma would not be served as a medium of exchange
hence, the same would be relevant
After income tax is paid by a
corporation, what percentage of
the remaining profit is paid as the
dividend tax?
A. 30%
C. 15%
B. 5%
D. 10%
Answers
Answer:
option C
Explanation:
the general rate of dividend is 15%
What key features should you point out when demonstrating 2022 kicks’ efficient performance?.
Answers
Xtronic CVT, D-step transmission tuning and 1.6-liter DOHC engine are the key features to point out when demonstrating the kicks’ efficient performance.
What is the Kick efficient performance?The vehicle's efficient performance is a features that aims to increase the performance of the car engine while being driven.
Hence, the key features to point out when demonstrating the kicks’ efficient performance includes:
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discuss the impact of discriminating behaviour the individual and society
Answers
Discriminating behaviour has the following impact on the individual and society:
It can lead to conflict and unrest in the society.It can lead to low self esteem and depression.What is discrimination?
Discrimination is when a person is treated unfairly and differently from other people based on age, gender, religion or race. For example, a person of colour might be denied entry into a restaurant based on her skin colour.
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Richard has recently finished college and is about to prepare for his exam to become a certified public accountant. He wants to talk to other accountants to learn how best to prepare for this exam. Which professional organization would be most helpful for him to join?
Answers
Answer:
The accountant federation
Sand Explorers issues bonds due in 14 years with a stated interest rate of 6% and a face value of $250,000. Interest payments are made semi-annually. The market rate for this type of bond is 5%. Using present value tables, calculate the issue price of the bonds. (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.)
Multiple Choice
1. $200,507.
2. $274,957.
3. $335,225.
4. $250,000.
Answers
The issue price of the bonds is $274,957 (option 2) when market rate for this type of bond is 5%.
To calculate the issue price of the bonds, we need to determine the present value of the bond's future cash flows.
The bond pays semi-annual interest payments for 14 years, and the face value is $250,000. The stated interest rate is 6% and the market rate is 5%.
Using the present value of an annuity due (PVAD) table, we can find the present value factor for a 14-year period at a 5% interest rate. The present value factor is 10.1607.
Next, we calculate the present value of the bond's interest payments. Since the interest is paid semi-annually, we divide the stated interest rate by 2 to get 3% as the semi-annual interest rate.
Using the present value of an annuity (PVA) table, we find the present value factor for a 14-year period at a 3% interest rate. The present value factor is 19.0344.
Multiplying the semi-annual interest payment ($250,000 * 6% / 2 = $7,500) by the present value factor of the annuity, we get $142,757.50.
Finally, we calculate the present value of the bond's face value. Using the present value (PV) table, we find the present value factor for a 14-year period at a 5% interest rate. The present value factor is 0.5194.
Multiplying the face value of the bond ($250,000) by the present value factor, we get $129,850.
The issue price of the bonds is the sum of the present values of the interest payments and the face value:
$142,757.50 + $129,850 = $272,607.50.
Therefore, rounding to the nearest dollar, the issue price of the bonds is $274,957 (option 2).
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organizational culture refers to ________
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Organizational culture refers to the proper way to conduct and behave within an organization.
Organizational culture refers to the way of behaving within organizations. The organizational culture involves the common beliefs, expectations, values, and practices established by the concerned authority that guide and direct the actions of employees working in the organization. A positive organizational culture is vital to establishing the characteristics necessary for the success of the organization.
Since positive organizational cultures provide a base for improved performance, there are multiple outcomes associated with them such as raising market shares, improving organizational outcomes, boosting work attitude, making customers more satisfied, and increasing the financial performance of the business.
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Jerry, the manager at Cayman's Inc., strongly believes that his subordinates prefer to be directed, avoid responsibility, and frequently need coercion to work toward company goals. Jerry is clearly a _____ manager.
Answers
Answer:
Theory X
Explanation:
Theory X is one of the types of management. In this type of management, the managers presume that the employees are not motivated towards their work. They step out with methods like remuneration and increments to motivate the employees. These additional benefits are provided to them when the employees show great responses in tangible forms. The managers hold the thought that the employees need to be controlled and threatened to bring the maximum output of them. They also assume that the employees need constant supervision at every stage of their work.
In the given excerpt, it is evident from the steps taken by Jerry that he is a Theory X manager.
Question Four i. A royalty contract typically includes an agreement on minimum rent. Explain the purpose and implication of the minimum rent in the agreement? \{5 marks\} ii. Discuss the implications of "substance over form" concept in Hire purchase accounting \{5 marks\}
P
Answers
The purpose of the minimum rent in a royalty contract is to ensure a baseline payment to the licensor, regardless of the actual sales or revenue generated.
The minimum rent provision in a royalty contract serves as a safeguard for the licensor by guaranteeing a minimum payment regardless of the licensee's sales performance. It establishes a baseline income for the licensor, providing stability and predictable cash flows. If the actual royalty payments based on sales fall below the minimum rent amount, the licensee is still obligated to pay the minimum rent. The implication is that the licensor can rely on a minimum level of income, which helps in financial planning and mitigates the risk of fluctuating sales. The minimum rent provides a level of security for the licensor's intellectual property rights and helps ensure a consistent revenue stream.
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What is down payment with regarding to buying a house?
Answers
Banks do not hold a lot of their assets in the form of cash mainly because of:
a. regulation.
b. the fear of being robbed.
c. the opportunity cost of holding cash, cash does not earn interest.
d. it can encourage employee theft.
Answers
Banks do not hold a lot of their assets in the form of cash mainly because of the opportunity cost of holding cash, cash does not earn interest. The correct option is C.
Opportunity costs are the possible advantages that a person, investor, or company forgoes while deciding between two options. It is necessary to weigh the advantages and disadvantages of each choice offered in order to correctly assess opportunity costs.
The interest that could have been made if the cash had been used to buy bonds instead is the opportunity cost of keeping any money balance.
Therefore, due to the opportunity cost of holding cash and cash does not earn interest banks does nor prefer to hold a lot of their assets in the form of cash .
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Suppose that when the price of laundry detergent decreases from $4. 10 to $3. 50, quantity supplied decreases from 260 to 180.
Using the mid-point elasticity approach, calculate price elasticity of supply
Answers
The price elasticity of supply, calculated using the mid-point elasticity approach, for the given change in price from $4.10 to $3.50, resulting in a decrease in quantity supplied from 260 to 180, is approximately 0.81.
The mid-point elasticity formula is given by:
Elasticity = ((Q2 - Q1) / ((Q1 + Q2) / 2)) / ((P2 - P1) / ((P1 + P2) / 2))
Substituting the given values into the formula, we get:
Elasticity = ((180 - 260) / ((260 + 180) / 2)) / (($3.50 - $4.10) / (($4.10 + $3.50) / 2))
= (-80 / (440 / 2)) / (-0.60 / (7.60 / 2))
= (-80 / 220) / (-0.60 / 3.80)
≈ 0.81
Therefore, the price elasticity of supply is approximately 0.81. This value indicates that the supply of laundry detergent is relatively inelastic, meaning that a change in price does not have a proportionately large effect on the quantity supplied.
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Analysts expect placer corp. to pay shareholders $3.25 per share annually for the next five years. after that, the dividend will be $4.50 annually forever. given a discount rate of 11.2%, what is the value of the stock today? group of answer choices $30.03 $40.18 $35.58 $14.33
Answers
The answer is $35.58. To determine the value of the stock today, we can use the Gordon Growth Model, which values a stock based on its dividends and the discount rate.
The formula for this model is:
V0 = D1 / (r - g)
where:
D1 is the expected dividend in the first year ($3.25 in this case)
r is the discount rate (11.2% in this case)
g is the expected growth rate of the dividends beyond the next five years ($4.50 - $3.25) / $3.25 = 38.46%
Plugging in the numbers, we get:
V0 = $3.25 / (0.112 - 0.3846) = $35.58
So, the value of the stock today is $35.58, which is the answer choice closest to the calculated value. The Gordon Growth Model, also known as the Gordon Dividend Discount Model, is a financial model used to estimate the intrinsic value of a stock. The model assumes that the dividends of a stock will grow at a constant rate in perpetuity and that the discount rate remains constant. The Gordon Growth Model is a simple and widely used method for valuing stocks, but it has some limitations. It assumes constant growth, which may not be realistic in practice, and it does not take into account changes in the dividend rate or the discount rate. Therefore, it is important to use other methods and consider other factors when valuing a stock.
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In the short run, if a firm produces the level of output at which marginal revenue is equal to marginal cost but price is less than average total cost, the firm will.
Answers
When the firm produces at level of output where marginal revenue equal marginal cost but the price is less than average total cost, then, the firm will continue to operate if price is greater than its average variable cost,
In practice, a perfectly competitive firms will continue to produce output until the marginal revenue equals marginal cost (MR=MC)
When the firm produces at level of output where marginal revenue equal marginal cost but the price is less than average total cost, then, the firm will continue to operate if price is greater than its average variable cost,
Therefore, the Option C is correct.
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the sales department at a local company determines that product a will moderately boost sales and have a shorter production schedule, so it is decided that this product will be manufactured and sold without considering other options. in choosing this product, the sales department is
Answers
The action that is been taking by the sales department when they are determining the kind of product that will bring about sales boost with their shorter production schedule and manufacturing of product is Satisficing.
Satisficing can be regarded as a decision-making strategy that is carried out for satisfactory or adequate result.This done as opposed to the optimal solution, satisficing involves taking pragmatic effort to face a task.Therefore, satisficing is correct answer.
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Does Walmart's business practices help or exploit its physical
environment? What steps would you recommend to improve Walmart's
environmental and sustainability record?
Answers
Use is the sole democratic aspect of the business sector; small stores fail because Americans prefer Walmart. Compared to its rivals, Walmart offers better, more transparent, and less priced administrations. The transition to Walmart is good for society since Walmart is far more skilled at every aspect of its operation, whereas competing shops closings result in harrowing hard-karma tales.
By October 31, 2022, Walmart will work 10,586 shops and clubs all through 24 countries under 46 different names.
In the US, Canada, Mexico, and Focal America, the business is known as Walmart, though in India administrations, it is known as Flipkart Discount. It works altogether on its own in Chile, Canada, and South Africa.
Since August 2018, Walmart has just possessed a little piece of Walmart Brasil, which changed its name to Grupo Huge in August 2019. Walmart possessed 20% of the organization's portions at that point.
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What is the difference between a “Named Insured” and a “Driver”?
Answers
Named insured(s) can drive a car, or anyone else's (including rental car) and get into an accident. An additional driver is a person who resides with the named insured and/or regularly uses a shared vehicle. His or her record is used in underwriting the policy to determine rates, but the person has no policy rights.
20. Analyzing market research is usually done by identifying________ making comparisons and developing________
Answers
Answer:
Define your research objective. The first step in the market research process
Explanation:
is to define your research objectives. ...
Develop your research questions. ...
Gather your research. ...
Interpret your findings. ...
Draw conclusions and make decisions.
The Cambro Foundation, a nonprofit organization, is planning to invest $104,950 in a project that will last for three years. The project will produce net cash inflows as follows: Year 1 ....................$30,000 Year 2....................$40,000 Year 3....................? Required: Assuming that the project will yield exactly a 12% rate of return, what is the expected net cash inflow for Year 3?
Answers
To calculate the net cash inflow for year 3, we first need to find the total net cash inflows of all three years as it is given below.Year 1 = $30,000Year 2 = $40,000Year 3 = ?
Now, we will calculate the total net cash inflow for all three years. Thus,$\text{Total net cash inflow} = \text{Cash inflow of Year 1} + \text{Cash inflow of Year 2} + \text{Cash inflow of Year 3}$Now, we know that the total investment of the Cambro Foundation in this project is $104,950. And we also know that the project will last for three years.So, to calculate the expected net cash inflow for year 3, we will use the following formula:
Total investment = Total net cash inflow/Discount factor$104,950 = ($30,000/1.12) + ($40,000/1.12^2) + (x/1.12^3)Now, we will solve for x in the above equation. Thus,x/1.12^3 = $25,876.42x = $25,876.42 x 1.12^3= $32,205.10Therefore, the expected net cash inflow for Year 3 is $32,205.10.
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In the context of the strategies that organizations adopt for competing in the international environment, the process of producing products in the domestic marketplace and then selling them in other countries is called importing.
Answers
The given statement, the strategies that organizations adopt for competing in the international environment, the process of producing products in the domestic marketplace and then selling them in other countries is called importing, is false.
What is an import?A product or service that was created in another nation but was purchased in one is an import. The two pillars of international trade are imports and exports. A nation's trade balance, commonly referred to as its trade deficit, is negative if the value of its imports exceeds the value of its exports.
The majority of the time, nations will import items or services that the exporting nation's own industry cannot provide as effectively or inexpensively. Additionally, nations may import goods or raw materials that are unavailable within their boundaries. For instance, many nations import oil because they are unable to do so domestically or because there is not a sufficient supply to meet demand.
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Which of the followingultimately determines thesufficiency andappropriateness of auditevidence to support theauditor's conclusions?
A. Professional judgment.
B. Professional experience.
C. Professional standards.
D. Professional requirements.
Answers
The correct answer is C. Professional standards.
Professional standards are the guidelines and requirements set by the auditing profession that auditors must adhere to when conducting an audit. These standards outline the procedures, methods, and expectations for obtaining and evaluating audit evidence. They provide a framework for auditors to ensure that their work is conducted with sufficient and appropriate evidence.
Professional judgment (option A) and professional experience (option B) are important factors that auditors utilize in the application of professional standards. However, they do not solely determine the sufficiency and appropriateness of audit evidence. Professional judgment and experience are used to interpret and apply the standards to the specific circumstances of the audit engagement.
Professional requirements (option D) can be considered a subset of professional standards. These requirements may include specific qualifications, certifications, or regulatory obligations that auditors must meet. While professional requirements are important for auditors, they do not exclusively determine the sufficiency and appropriateness of audit evidence.
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Explain the project planning steps
Answers
Set goals
Prioritize tasks
Create a schedule
Communicate.
gabe’s home has an assessed value of $172,000, and his tax rate is .55%. what are the annual taxes?
Answers
The annual taxes on Gabe's home are $946.
To calculate Gabe's annual taxes, we need to multiply the assessed value of his home by his tax rate, which is .55%. First, we convert the tax rate to a decimal by dividing it by 100: 0.55/100 = 0.0055. Then, we multiply the assessed value by the decimal tax rate: $172,000 x 0.0055 = $946. This means that Gabe will pay $946 in taxes on his home each year.
A tax placed on people or organizations in relation to their income or profits is known as an income tax. Tax rates multiplied by taxable income are typically used to calculate income taxes. Tax rates might change depending on the taxpayer's attributes and source of income.
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4. What does IMC stand for and name all the different component of the
IMC.
Answers
The process of combining marketing communication elements, such as public relations, social media, audience analytics, business development principles, and advertising, into a brand identity that is constant across various media channels is known as integrated marketing communication (IMC).
Advertising, personal selling, sales promotions, direct marketing, and public relations (PR) are the IMC's five key pillars. A crucial component of every marketing plan is communication. Customers must comprehend the value that the product provides them in order for them to accept a company's fantastic goods and an incredible cost.
Businesses must successfully communicate with their consumers to engage them. The marketing mix must thus include an integrated marketing communications plan.
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short notes on audit and auditor
Answers
Answer:
Audit
Audit is the examination or inspection of various books of accounts by an auditor followed by physical checking of inventory to make sure that all departments are following documented system of recording transactions.
Auditor
An auditor is a person authorized to review and verify the accuracy of financial records and ensure that companies comply with tax laws.
2. Answer the following questions about the letter:
a. Who is the sender of this letter? (1 point)
b. Who is the recipient of this letter? (1 point)
c. What is the purpose of this letter? (2 points)
Answers
Note that the letter referenced in this question is unavailable so we can look at an alternative. (See the attached.)
In this case:
The Sender is: James JohnThe recipient is the Manager at Sun Bank; andThe purpose of the letter is to apply for a job.What is a letter important?
A letter is important as it serves as a means of communication and helps convey thoughts, ideas, and information from one person to another.
A letter can be used for personal or official purposes and can play a significant role in establishing relationships, resolving conflicts, or making important decisions.
A well-written letter is an effective tool for conveying messages, as it allows for clear and concise communication, and provides a record of the message for future reference.
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