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Hiring and developing employees can be challenging for owners and managers of a small business venture, especially when these employees may be working in two or more operational areas. For example, one employee may be responsible for both marketing and sales, while another employee may be responsible for information technology management and office administration. Imagine you are the owner of a small business venture, and are ready to hire your employees. Initially, the employees you hire will have to assume more than one role.
Address the following in detail: What roles would need to be filled for the business? Which roles might best be combined? What skills/attributes would you look for when recruiting employees? How would you assess the strengths and skills of each employee in order to assign the specific roles and responsibilities? Should you set up specific time allocations/expectations for each employee (e.g. an employee is responsible for marketing 60% of the time, and sales the remaining 40%)? If so, how would you monitor the percentages? What do you think are the advantages of using this approach in this setting? Disadvantages?
All incomes received in producing the value of the nation's output are equivalent to the total spending made on the final goods and services.
If inflation expectations rise, how do the short-run Phillips curve and unemployment change?
In 2013 the south Korea GDP was about 1620 billion. Since we are working in 2013 dollars, this number is both the real and the nominal GDP for 2013. From 2013 to 2014 the real gdp grew 2.9%. The money supply in Korea in 2014 was about 390 billon. The..
His uncertainty about total sales of the book can be represented by a random variable with a mean of 30,000 and a standard deviation of 8,000. Find out the mean and standard deviation of the total payments he will receive.
Write down the profit maximization problem for the rm.
If the marginal product of capital is twice the marginal product of labor and the price of a unit of labor is $4, illustrate what must be the price of a unit of capital.
Two hospitals want to merge. The price elasticity of demand is -0.20, and each clinic has fixed costs of $100,000. One clinic has a volume of 9,200, marginal costs of $70, and a market share of 3 percent. What are the total costs, revenues, and profi..
Explain how externalities, public goods, and asymmetric information are all problems with private property rights.
There are only 2 firms in a market facing same demand curve as follows: Q = 120 – 10P The marginal cost of each firm are, respectively, MC1 = 4 + 0.2 Q1 and MC2 = 4 + 0.2 Q2 a). Find the profit maximization level of output for both firms. b). which f..
What are the equilibrium price and quality? What is the market outcome if the price is $2.75? What do expect to happen? Why? What is the market outcome if the price is $4.25? What do expect to happen? Why? What are the equilibrium price and quality i..
What are the characteristics of a pure monopoly market structure? How does a monopoly acheive and maintain its monopoly from other firms? Why is marginal revenue less than the selling price for a monopoly? Why is monopoly considered to be the most in..
A monopolist faces the following demand curve and cost function: Find the equations for: Marginal Cost, Marginal Revenue, Average Total Cost. Calculate the elasticity of demand at the profit maximizing price
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