marks) The law firm of Smith‚ Jones‚ and Greene provides accounting service for some of its clients. The person who handles this service and her secretary cost the law firm an average of $80‚000 per year in salary and benefits. Furthermore‚ the law firm incurs an additional charge of $50 per client for computer time‚ postage‚ and supplies. Clients are charged $300 a year for these accounting services. a) Determine the cost‚ revenue‚ and profit functions for the law firm in terms of the number
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emeraldinsight.com/0951-3574.htm Value‚ profit and risk: accounting and the resource-based view of the firm Steven Toms The York Management School‚ University of York‚ Heslington‚ UK Abstract Purpose – This paper aims to argue that the principal components of the Resource-Based View (RBV) as a theory of sustained competitive advantage are not a sufficient basis for a complete and consistent theory of firm behaviour. Two missing elements are value theory and accountability mechanisms. Design/methodology/approach
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Personal responsibility is the ability to have control over life and being able to hold yourself accountable for your actions. Responsibility ties into handling life’s challenges‚ whether work or school‚ I think setting personal goals for yourself‚ can allow you to bring up your expectations of your work output. Discipline will get you to set standards for yourself that can bring you success in areas of your life which includes school. Even though I believe things happen that you cannot control‚
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the model was that there were no economic profits in the long run. In a monopoly‚ the firm typically earns a positive economic profit. Why is there this difference? The lack of barriers to entry will allow competitors to enter the market unil economic profit is zero. These firms are price takers‚ and they cannot affect prices because their demand curve is horizontal. (4 marks) 2. Assume that a single firm in a pure competitive industry has a fixed cost of $6500 and variable costs as indicated
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might be low (Mike‚ 2013‚ 19:10). The income elasticity is very important to firms in that it helps them to determine the kind of goods to produce at a particular time following the rooming income. Consequently‚ prices of goods will too‚ be determined in proportion to demand of such goods which is equally determined by the levels of income. It also allows firms to know the kind of employees to keep in employment as some firms look at rates of income of employees‚ for instance‚ long serving employees
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SHIYANA HAYES 12-2-14 RESPONSIBILITY ESSAY Personal responsibility includes being responsible for your own actions and well-being. In relation to social roles each person has their own way of doing things while living their own life. The concept is similar for businesses and organizations that work to provide opportunities for others. They have a responsibility in providing products‚ goods‚ and services that are fair while serving a purpose. consequences are given when failing to do what is right
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Moral Responsibility America would not be where it is without the laws that have been placed and the citizens who follow the laws. In order for this to happen the knowledge and acceptance of the laws are needed to establish order. African Americans had been secluded in the past through harsh laws of segregation. Although many believe disobeying the law is morally wrong and if disobeyed a punishment should follow‚ Martin Luther King’s profound statement‚ “One has the moral responsibility to disobey
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Specification of responsibilities Groups General Group Description Interests The Executive Committee of Johnson & Johnson Principal management group responsible for the operations of Johnson & Johnson. Develop and funding the health and wellness programs Operating management Line executive that report directly to the executive committees Develop and operating the health and wellness programs‚ set up the goal and objectives. Employees Persons working for company Get involved and participate in
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point is that whether such damaging activities to the environment occur in either rich or poor nations‚ the impacts are shared across the board. Out of this‚ the main contention is responsibility. Who‚ between the rich and poor nations‚ is responsible for environmental degradation and thus who bears the greatest responsibility in addressing the damage? To start with‚ rich countries‚ despite their lower population as compared to the poor countries‚ have higher consumption rates than poor countries. They
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The Blue Sky Software Consulting Firm MNGT 6000-Integrated Studies in Management People clearly are an organization’s most critical resource. Their knowledge and skills along with their commitment‚ creativity‚ and effort are the basis for competitive advantage. It is people that have creative ideas for new products or for process improvements that devise marketing strategy or take technologies to the next level. As consultant for Blue Sky‚ it is my obligation to develop recommendations
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