What short-term action can be taken to improve HR value, alignment, communication, control, and coordination within the division?
1 point
A. Hire a full staff
B. Establish regular communication
C. Install the HRIS system
D. Fully adopt corporate HR policy
2. What HR service is NOT currently integrated within the division?
1 point
A. Management training
B. HR investigations
C. Profit sharing/bonus (global)
D. Benefits system (US only)
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Question 1
What short-term action can be taken to improve HR value, alignment, communication, control, and coordination within the division?
1 point
Hire a full staff
Establish regular communication
Install the HRIS system
Fully adopt corporate HR policy
Question 2
What HR service is NOT currently integrated within the division?
1 point
Management training
HR investigations
Profit sharing/bonus (global)
Benefits system (US only)
Question 3
What actions would increase the likelihood of success in changes to the current HR approach? 1 point
Sponsorship from Keith
Increased communication
Clear expectations
All of the above
Question 4
What would be an effective transitional structure while a longer-term solution is developed?
1 point
Have all HR report directly to corporate
Report all division HR to Mund Tools HR
Matrix all division HR persons to Brad Jones
Report all division HR to regional HR heads
Question 5
Why isn't even simple HR integration free?
1 point
Many services actually are free.
Requires dedicated time and multiple individuals' effort
It is not tax deductible in all countries.
Corporate HR is a cost center and must charge-back effort.
Question 6
How would the integration of HR services impact the problem with "corporate overhead charges"?
1 point
Increase the allocation cost to the division
There would be no impact.
Create demonstrated value for the cost
Reduce the allocation cost to the division
Question 7
What is a symptom of ineffective design in the HR team in the division?
1 point
The division is not profitable.
HR reports to line and staff managers.
HR organization decision making is slow in recruiting.
Some of the HR staff are part-time.
Question 8
Why should Sorriso to be careful about wholesale integration of HR practices?
1 point
The business lifecycle stages are different in the division from the two established corporate business units.
It would make it more difficult to spin the units off or restructure.
To avoid creating conflict with the unit leaders and possibly the board
Because of the ongoing litigation in the division, it would be better to wait.
Question 9
What is the primary method for HR collaboration currently?
1 point
Reporting relationships with Brad Jones
Regional HR support
Division HR steering committee
Informal networks
Question 10
Which corporate strategic goal would be supported by greater integration of HR support?
1 point
Operational excellence
Financial performance
Engaged people
All of the above
Question 11
What is NOT an area where integration can support stronger corporate governance?
1 point
HR Policy implementation
Succession planning
Replacing legacy HR staff
Recruiting practices
Question 12
What are potential sources of resistance to the changes in HR support?
1 point
Anger
Both fear and anger
Neither fear or anger
Fear
Question 13
What is NOT a recommended method to support the implementation of the HR changes?
1 point
Inclusiveness
Coercion
Collaboration
Dialog
Question 14
What type of team would be created to engage interested HR team members in mutual support and ongoing sharing of best practices?
1 point
Project task force
Skunk works
Self-directed team
Community of practice
Question 15
What option would represent a radical change in HR service provision for the Digital Division?
1 point
Outsourcing recruiting to a third party
Realigning current groups to a new structure
Hiring experts for new roles
Training HR staff on state-of-the-art approaches
Answers
1. A short-term action that can be taken to improve HR value, alignment, communication, control, and coordination within the division is option B: Establish regular communication.
2. The HR service that is NOT currently integrated within the division is option C: Profit sharing/bonus (global).
3. The actions that would increase the likelihood of success in changes to the current HR approach include all of the above options: Sponsorship from Keith, Increased communication, and Clear expectations.
4. An effective transitional structure while a longer-term solution is developed would be to Matrix all division HR persons to Brad Jones.
5. The reason why even simple HR integration isn't free is that it requires dedicated time and multiple individuals' effort.
6. The integration of HR services would impact the problem with "corporate overhead charges" by creating demonstrated value for the cost.
7. A symptom of ineffective design in the HR team in the division is that HR reports to line and staff managers.
8. Sorriso should be careful about wholesale integration of HR practices because the business lifecycle stages in the division may differ from the two established corporate business units.
9. The primary method for HR collaboration currently is likely option C: Division HR steering committee.
10. Greater integration of HR support would support all of the corporate strategic goals mentioned: Operational excellence, Financial performance, and Engaged people. Integration helps streamline HR processes, improve efficiency, and enhance overall operational excellence within the organization.
11. The area where integration may NOT support stronger corporate governance is option C: Replacing legacy HR staff.
12. Potential sources of resistance to the changes in HR support include both fear and anger.
13. Coercion is NOT a recommended method to support the implementation of HR changes.
14. A community of practice would be created to engage interested HR team members in mutual support and ongoing sharing of best practices.
15. Realigning current groups to a new structure would represent a radical change in HR service provision for the Digital Division.
1. Regular communication is essential for fostering collaboration and alignment within the HR division. It allows HR staff to stay informed about ongoing initiatives, share information, exchange feedback, and coordinate their efforts effectively.
2. This indicates that the division does not have a unified approach to profit sharing or bonuses across its global operations. It implies that each region or country within the division might have its own distinct policies or practices regarding profit sharing and bonuses.
3. Sponsorship from Keith, a key stakeholder, can provide support, resources, and influence to drive the HR changes forward.
4. Matrixing the division HR personnel to Brad Jones means that they would have dual reporting lines.
5. Integrating HR services involves various activities such as aligning policies and procedures, harmonizing compensation and benefits, implementing technology solutions, training employees on new practices, and ensuring compliance with regulations.
6. Corporate overhead charges are costs incurred by the corporate HR function for providing services to divisions or business units.
7. In an effective HR team design, HR should have a direct reporting line to higher-level HR positions or executives. Reporting to line and staff managers indicates a lack of HR autonomy and influence within the organization.
8. Each business unit or division may have its own unique needs, goals, and challenges based on its specific industry, market, and growth stage.
9. A division HR steering committee typically consists of HR representatives from different departments or units within the division.
10. It enables effective talent management, aligns HR practices with business objectives, and contributes to improved financial performance.
11. Legacy HR staff refers to employees who have been with the organization for a long time and possess institutional knowledge and experience.
12. Change can evoke fear and resistance among employees, especially when it affects their roles, responsibilities, or job security.
13. Coercion involves using force, pressure, or intimidation to make employees comply with the changes.
14. A community of practice is a group of individuals who share a common profession or interest and come together to exchange knowledge, experiences, and insights.
15. Realigning current groups to a new structure involves restructuring the existing HR teams, roles, and responsibilities to better align with the specific needs and goals of the Digital Division.
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Related Questions
What resources do consumers typically have in limited supply that forces them to make trade-off decisions in consumption
Answers
The resources are time, money and attention.
An individual who purchases goods and services from a vendor is referred to as a consumer. Although human desires are limitless, the resources required to fulfil them are scarce. As a result, consumers are forced to choose a trade-off.
The opportunity cost of a decision is a trade-off. When a consumer decides to consume one good over others, they are giving up an option. Consumers who are rational would pick the good that provides the most utility.
Consider a consumer who has $100, for instance. The buyer can choose between buying pants or an economics book with the money. The option with the higher utility would be picked by the customer. This is a case of a trade-off.
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In real estate describe how you would rectify this complaint with the potential buyer. Refer to at least two communication strategies in your answer
Answers
To rectify a complaint with a potential buyer in real estate, it is important to use effective communication strategies. Two such strategies are active listening and empathy.
Firstly, it is important to actively listen to the potential buyer’s complaint. This involves giving them your full attention, avoiding interruptions, and asking clarifying questions to ensure that you fully understand their concerns. By actively listening, you demonstrate that you value their feedback and are committed to addressing their concerns.
Secondly, it is important to show empathy towards the potential buyer. This involves acknowledging their feelings and expressing an understanding of their perspective. By showing empathy, you can build rapport with potential buyers and help them feel heard and understood.
Once you have actively listened to the potential buyer’s complaint and shown empathy towards their concerns, you can work towards finding a solution that addresses their needs. This may involve offering a compromise or taking steps to rectify the issue that led to the complaint. By using effective communication strategies such as active listening and empathy, you can help resolve the complaint and maintain a positive relationship with the potential buyer.
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my new oc -w-.......................................................
Answers
Answer:
nice...
Explanation:
I NEED THIS RIGHT NOW
Which of the following is NOT true about message sensitivity options?
Recipients of messages do not have to respect your requests for privacy.
Messages can be marked private.
Not all email services provide options for email sensitivity.
Messages marked as private or confidential cannot be shared with others.
(It's not c)
Answers
Answer:
a.recipients of messages do not have to respect your requests for privacy
Complete the following sentence with the options listed below.
A _________ is a person who _______ a public good that others _________.
O free rider; pays for; use
O payer; enjoys; pay for
O nonexcludable payer; purchases; determine to be nonrivairous
O free rider; enjoys; pay for
O Ione rider; enjoys; pay for
Answers
A free rider is a person who enjoys a public good that others pay for.
What is a free rider?Anyone who enjoys something without putting up any effort or paying for it is considered a free rider. Free riders, then, are people who make use of things without paying for them.
What does a free rider look like?requesting contributions Consumer donations made voluntarily may compensate again for free riders. For instance, soliciting donations in a museum or garden. The donation sums would assist in paying for the garden/museum even if there were still free riders.
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For each scenario, calculate the cross-price elasticity between the two goods and identify how the goods are related. Please use the midpoint method when applicable, and specify answers to one decimal place. A 20% price increase for Product A causes a 10% decrease in its quantity demanded, but no change in the quantity demanded for Product B.
Answers
Answer:
No relation
Explanation:
The computation of the cross elasticity of demand is shown below:
= Percentage change in quantity demanded ÷ Percentage change in price
here the price is increased by 20% for product A
But there is no change in the quantity demanded for product B
So, the cross elasticity of demand is
= 0 ÷ 20%
= 0
Therefore there is no relation between two products or goods
Which scenario describes a student citing an online source in his or her work?
Answers
Answer:
a
Explanation:
Which scenario describes a student evaluating an online source?
What is a way to manage dialectical tensions?
Answers
One way to manage dialectical tensions is through the use of the dialectical theory. This theory posits that relationships are constantly changing and involve both connection and autonomy. By understanding and accepting this reality, individuals can work to balance these tensions in their relationships.
Another way to manage dialectical tensions is through communication. By openly discussing the tensions and finding ways to compromise, individuals can work towards a more harmonious relationship. This may involve finding a balance between spending time together and apart, or finding ways to maintain individual identities while still being connected as a couple.
Overall, managing dialectical tensions requires an understanding of the complexities of relationships and a willingness to communicate and compromise. By doing so, individuals can work towards healthier and more fulfilling relationships.
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1) Your client wants to primarily protect the family’s wealth.
1) Recommend the specific investments/products and 2) clearly
explain to your client why you recommend those
investments/products. Note
Answers
1. Diversified Portfolio: Recommend building a diversified investment portfolio that includes a mix of asset classes such as stocks, bond , real estate, and alternative investments.
Diversification helps spread risk and reduce the impact of any single investment's performance on overall wealth. It provides a balance between growth potential and stability.
The rationale behind these recommendations lies in the principle of diversification, which helps manage risk and stabilize investment returns. By diversifying across different asset classes and investment types, the client can benefit from a balanced portfolio that offers growth potential while mitigating downside risks. Additionally, the inclusion of retirement accounts and risk management products ensures long-term financial security and safeguards against unexpected events.
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Ford Company reports depreciation expense of $55,000 for Year 2. Also, equipment costing $186,000 was sold for its book value in Year 2. There were no other equipment purchases or sales during the year. The following selected information is available for Ford Company from its comparative balance sheet. Compute the cash received from the sale of the equipment. At December 31 Year 2 Year 1 Equipment $ 685,000 $ 871,000 575,000 Accumulated Depreciation-Equipment 489,000 Multiple Choice ο ο ο ο ο $100,000 $45,000 $86.000 $43,000. $55,000.
Answers
The cash received from the sale of the equipment is $45,000.
Here is the calculation:
Equipment is a tangible asset that a company uses in its operations. It can include buildings, machinery, vehicles, furniture, and other physical assets. Equipment is depreciated over its useful life, which is the period of time that it is expected to be used by the company.
Equipment is an important asset for many businesses. It helps them to produce goods or services, to transport goods, and to provide a place for employees to work. Equipment can also be used to generate income, such as in the case of rental property.
Book value of equipment sold = $186,000
Depreciation expense for Year 2 = $55,000
Therefore, the carrying amount of equipment sold = $186,000 - $55,000 = $131,000
Cash received from the sale of equipment = $131,000
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Why is it called Chick-Fil-A when a Fil-A (filet) is normally cooked with beef???
Answers
A cover letter accompanies_____?
A. a college application
B. the FAFSA
C. a letter of recommendation
D. a résumé
Answers
Answer:
B brainliest?
Explanation:
S&p enterprises has scheduled direct material purchases of $100,000 in january, $130,000 in february and $150,000 in march. The company pays for 75% of its purchases in the month of purchase and 25% the month after the purchase. Calculate the expected cash disbursements for the month of february.
Answers
Calculate the expected cash disbursements for the month of February.
$122,500
February purchases
$130,000 x 75% = $97,500
January purchases
$100,000 x 25% =
$25,000
A disbursement is a shape of price from a public or committed fund. Alternatively, it approach a charge made on behalf of a client to a third birthday celebration for which compensation is ultimately sought from the consumer. It is a time period most generally utilized by solicitors inside the united kingdom to refer to bills that they have got made or will make to 0.33 parties in connection with the matter they're handling on behalf of the purchaser.[1] section 67 of the Solicitors Act 1974 refers to disbursements as "costs payable in the discharge of a liability properly incurred through [the solicitor] on behalf of the birthday celebration to be charged with the invoice".[2] those can also include courtroom prices, suggest's costs, expenses for scientific or different expert reviews or search expenses in a belongings transaction. Disbursements paid by means of an undertaker on behalf of a bereaved circle of relatives generally include cemetery or crematorium charges, charges for non secular worship and any newspaper bulletins.
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under the modified accrual basis of accounting for a governmental unit, revenues should be recognized in the accounting period in which they are
Answers
Under the modified accrual basis of accounting for a governmental unit, revenues should be recognized in the accounting period in which they: become available and measurable. The correct option is B.
What is the Modified Accrual Basis of Accounting?Modified Accrual Accounting is a bookkeeping method that combines accrual accounting with cash accounting. The Modified Accrual Basis of Accounting for governments is a slightly adjusted version of the accrual basis of accounting. It is mainly used by government entities and municipalities to manage their financial affairs.
The modified accrual basis of accounting for a governmental unit recognizes revenues when they become available and measurable, and expenditures when the liability is incurred.
Under the modified accrual basis of accounting, revenues should be recognized in the accounting period in which they become available and measurable.
The following items represent available and measurable revenues under the modified accrual basis of accounting for a governmental unit:Charges for services that have been rendered, taxes that have been levied and are collectible in the current period, and special assessments that have been levied and are collected in the current period.
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Complete question:
Under the modified accrual basis of accounting for a governmental unit, revenues should be recognized in the accounting period in which they:____.
A. Are earned and become measurable.
B. Are collected Become available and measurable.
C. Become available and earned.
D. Are earned and collected.
Which problems does Jason seem to face as an entrepreneur? Jason currently runs a small manufacturing business. Jason’s parents, who ran the business for years, handed over the business to their only son two years ago. However, Jason is not interested in his family business, and his performance as an entrepreneur has been very poor. The main problem is that Jason is not 1. competitive 2. driven 3. energetic enough to succeed in the manufacturing business because he lacks the 1. passion 2. creativity 3. determination for it.
Answers
Answer:
driven,passion
Explanation:
Which of the following are reasons you can claim additional allowances CHOOSE ALL THAT APPLY
A. You file as head of household if you are eligible
B. You are a single filer and plan to make a large purchase next year such as a house or car
C. You're eligible to claim the Child Tax Credit
D. You had at least the minimum amount required of child or dependent care expenses that you plan on claiming credit
Answers
Answer:
no por que. no se inglés ponlo en español
Open-ended credit is credit for which debtors are given a specified amount of credit to purchase specific consumer goods and intangible goods.
Answers
Answer: False
Explanation:
Open-ended credit does not work by specified borrowing amounts given to a debtor to purchase specific goods.
Rather it works by giving the debtor a limit on the amount they can borrow and they are allowed to borrow whatever amount they want within that limit.
The credit described in the question is a close-ended credit.
(?) is a bond where the principal and interest payments are
adjusted for changes in the price level over time
Answers
An inflation-indexed bond is a bond where the principal and interest payments are adjusted for changes in the price level over time.
The coupon rate on an inflation-indexed bond, which is the interest rate that determines the periodic interest payments to the bondholder, is linked to a price index such as the Consumer Price Index (CPI). Inflation-indexed bonds provide protection to investors against inflation because the interest payments and principal value of the bond increase in response to inflation.
In summary, an inflation-indexed bond is a bond where the principal and interest payments are adjusted for changes in the price level over time.
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what is the process of taking decision in the office?
Answers
Answer:
dress code, smile, thinking cap, and due process
Explanation:
u must have all of them to complete your job. if u not fit for work you not going to have a nice day. you must think the due process through and follow guidelines
What is one effective strategy for managing credit card debt?
O A. Spending your full credit limit before making a payment
OB. Ensuring that all of your credit card bills are paid on time
Oc. Replacing low-interest credit cards with high-interest options
OD. Paying only the minimum monthly payment on all credit cards
Answers
Answer:
D. Paying only the minimum monthly payment on all credit cardsExplanation:
I Hope That's correct :) ✓
Answer:
B. Ensuring that all of your credit card bills are paid on time
Explanation:
A credit card charge interests on outstanding balances and late payments, among other items. Interests in outstanding balances form a big proportion of credit card charges. Therefore, if one can avoid interest on these balances, their credit card charges will reduce greatly.
Paying the entire balance on the credit card statement ensures one does not incur any interest. Ensuring that all of your credit card bills are paid on time is the most appropriate way of managing credit card debts.
Care should be taken with running engine in the automotive workplace. Why?
Answers
Health and safety are crucial in the automotive industry. Every business must adhere to health and safety regulations, but the automotive sector is particularly important because employees are frequently in danger.
Thus, The Health and Safety Executive may take legal action and impose severe fines if the regulatory standards for health and safety are not met. Additionally, if one of your staff members was hurt, they might sue you in court.
Even while safety is essential to every aspect of the automotive industry's operations, some businesses see it as a costly expense.
When doing manual handling tasks, which demand employees to bend, reach, stretch, lift, and pull large objects while being in confined spaces, some of the most frequent risks in the automobile sector occur.
Thus, Health and safety are crucial in the automotive industry. Every business must adhere to health and safety regulations, but the automotive sector is particularly important because employees are frequently in danger.
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Which of the following would affect demand for a consumer magazine: O The cost of advertising in the magazine O The usefulness of the magazine The number of inserts in the magazine The magazine's delivered circulation
Answers
Answer:
The usefulness of the magazine
Explanation:
A primary factor that determines or affect the demand of a particular finished product or service is the amount of satisfaction that the customer (consumer) will derive from the use of such products or services.
This ultimately implies that, the utility or usefulness of a product or service determines whether or not it will be demanded by the consumers.
Hence, the demand for a consumer magazine is affected by the usefulness of the magazine. A consumer is most likely to buy a magazine only if it has informations that interest him or her i.e usefulness.
Which is most likely to happen to consumers with good credit? Check all that apply
Answers
Answer:
They can be approved for loans.
They are denied a mortgage.
They can receive lower interest rates.
They are denied an unsecured loan.
They can use credit in emergencies.
They are forced into high interest rates.
Explanation:
hope this helps
Answer:They can be approved for loans.
They are denied a mortgage.
They can receive lower interest rates.
They are denied an unsecured loan.
They can use credit in emergencies.
They are forced into high interest rates.
Explanation:
edge
Protecting intellectual property rights is important to a free enterprise system because:
A. it gives the government the ability to regulate businesses.
B. it allows entrepreneurs to profit from their ideas.
C. it ensures that businesses sell products at fair prices.
D. it makes more money available for starting new companies
Answers
Answer:
B. it allows entrepreneurs to profit from their ideas.
Explanation:
Intellectual properties are valuable ideas, innovations, and creations to a business. They are intangible assets that give a business its competitive advantage. Protecting intellectual properties ensure an individual or entity reaps the full benefits of the inventions and creations.
Protecting intellectual properties safeguards a company's ideas from being exploited by its competitors for commercial gains. It gives a business the right to exclusively profits from its innovations. Protecting intellectual properties encourages research and development as entrepreneurs are guaranteed to benefit from their creations.
sells subscriptions for for months. the company collects cash in advance and then subscribers have access to unlimited movies each month. apply the revenue recognition principle to determine a. when should record revenue for this situation. b. the amount of revenue should record for months. question content area bottom part 1 a. cinema king should record revenue when the customer. part 2 b. for seven months, cinema king should record revenue of
Answers
The revenue recognition principle is an accounting standard that guides companies on when to record revenue in their financial statements. In this scenario, Cinema King sells subscriptions for four months, where customers pay in advance for access to unlimited movies each month.
Here's how the revenue recognition principle should be applied to determine when and how much revenue should be recorded:
Part 1a: Cinema King should record revenue when the customer has access to the unlimited movies. In other words, revenue should be recognized as the service is being provided to the customer. This means that Cinema King should record revenue for each month as the customer is enjoying the unlimited movies.
Part 2b: For seven months, Cinema King should record revenue of the total subscription fee collected from the customer. This means that if a customer pays $100 for a four-month subscription, Cinema King should recognize revenue of $700 for seven months, which is the total subscription fee collected from the customer over the seven months.In summary, Cinema King should apply the revenue recognition principle by recognizing revenue for each month as the customer is enjoying the unlimited movies. For the entire subscription period, Cinema King should record revenue of the total subscription fee collected from the customer.
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what are creative unique products example flying water bottle plz don’t give me actual already made products
Answers
Using the Two Years Percentage Change method, calculate Intel’s DOL results for each year from 2020 to 2022
Answers
The Degree of Operating Leverage (DOL) can be determined using a financial ratio or calculation. Net income DOL = Contribution Margin / Operating Income is a common method for calculating the DOL. Degree of Financial Leverage (DFL) for 2020 = -0.091 ,2021 = 0.244,2022 = 0.692
Every value is in million.
2020 DFL is calculated as follows: (Net income in 2020 - Net income in 2019) / (Operating income in 2020 - Operating income in 2019).
2020 DFL = (20899 – 21048)/(23678 – 22035)
2020 DFL = –0.091
2021 DFL is calculating as (Net income in 2021 minus Net income in 2020) divided by (Operating Leverage in 2021 minus Operating income in 2020).
2021 DFL = (19868 – 20899)/(19456 – 23678)
2021 DFL = 0.244
2022 DFL is calculated as (Net income in 2022 minus Net income in 2021) divided by (Operating income in 2022 minus Operating income in 2021).
2022 DFL = (8014 – 19868)/(2334 – 19456)
2022 DFL = 0.692
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Your question is incomplete, probably the complete question is
Using the Two Years Percentage Change method, calculate Intel’s DOL,
DFL and DTL results for each year from 2020 to 2022.
The following are the annual reports for Intel.
https://www.annreports.com/intel/intel-ar-2020.pdf
https://www.annreports.com/intel/intel-ar-2021.pdf
https://www.annreports.com/intel/intel-ar-2022.pdf
What are Logistics careers?
Answers
ESTIMATING COSTS
ACTIVITY 1- Scenario: Margaret has recently opened up her own
Beauty Salon in Abu Dhabi. She has been operating for the last 6
months as a sole trader.
List Margaret's costs for her business below:
Fast plz
Answers
Answer:
Opening your own hair salon is a milestone for any hairdresser. You may be wanting to open a salon so that you are self-employed. You may also be wanting to provide your own clients with services that align with your vision of what a hairdressing experience should be. However, opening a hairdressing salon is a big responsibility, even if you have previous experience in the hairdressing industry.
One of the most important things you will need to consider when planning to open a hairdressing salon is how to structure your business. Your business structure is the legal framework of your business. It has the potential to reduce your exposure to financial risk and enable flexibility for growth. The wrong business structure for a new business may be costly and may not be suited to your business goals. This article considers four popular business structures and their suitability for hairdressing businesses.
1. Sole Trader
If you are starting a hairdressing salon on your own or are wanting to freelance, you may choose to operate as a sole trader. As a sole trader, you will have full control and autonomy of the running your business. This structure is usually relatively easy and cheap to set up. It also has minimal legal formalities.
To set up as a sole trader, you will need an Australian Business Number (ABN). If you intend to trade under your own name, then you don’t need to register a business name. However, if you plan to operate under a different name, you simply need to register a business name with the Australian Securities and Investments Commission (ASIC).
Although it has an easy setup, this structure does come with risk. If any of your clients sue you or you incur any debts, you will be personally responsible. This means that if you can not repay these debts from the funds of the business, you will have the repay the debt from your own personal finances.
Also, as a sole trader, you have limited resources available to fund the growth of your business. You will need to rely on:
personal savings;
loans; and
business profits.
You cannot raise funds from the general public. Being a sole trader may also not be the most tax-effective decision. This is because a sole trader is liable to the same tax rate applicable to individual taxpayers on income earned. You should check this with an accountant or tax lawyer.
2. Partnership
If you plan to open your hairdressing salon with one or more business partners, you may choose to enter into a partnership. Similar to a sole trader, the setup is simple and has minimal upfront costs. You will require an ABN for the partnership and most partnerships also register a business name.
It is also important for the partners to enter into a partnership agreement. This agreement governs the relationship between partners and sets out key terms, which may describe:
how the business will be managed;
how the profits will be shared;
who will fund the partnership;
how you or your partners can sell your share in the business; and
the process for managing disputes.
However, setting up a partnership also comes with risks. Like a sole trader, if someone sues you or you go into debt, your personal assets and finances will be at risk.
Additionally, partnerships involve joint liability. Therefore, you may be personally liable for business debts owed by any of the other partners. The amount owed is not divided proportionally according to your percentage of ownership in the business, so you could be responsible for paying the entire amount.
Like a sole trader, you cannot raise funds from the general public to fund the growth of your business. You will need to rely on:
the savings of each partner;
loans; or
business profits.
However, unlike a sole trader, you can look to bring on more partners to increase the pool of funds available for the business.
3. Company
Whether you are operating your hairdressing salon on your own or with other business partners, you may decide to operate as a company. A company is a separate legal entity. This means it is capable of suing and being sued. It also holds assets in its own name and can enter into contracts in its own name.
There are two key players involved in the management of a company. These are shareholders and directors. As the founder of your business, you will usually be both a shareholder and a director of the company that you establish. Any other business partners may also take on these roles.
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List at least 5 (five) data points that are required for the analysis and detection of a credit card fraud. (3 marks)
Answers
Data points that are required for the analysis and detection of credit card fraud.
1. Card holder / Customer Id
2. Transaction value
3. IP address
4. Device model
5. Location
Identity theft done through the unlawful use of another person's credit card information to make purchases or withdraw money from an account is known as credit card fraud.
Contact the major credit bureaus to inform them of any unauthorized use of numerous credit cards or financial accounts, and ask them to place a credit freeze. This may deter thieves from causing more harm, for as by getting a new credit card.
Learn more about credit cards here:
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