Business and Marketing Questions #3

Business and Marketing
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Question 1
While absolute advantage refers to the capability of a country to produce a larger quality of particular goods when supplied with the same resources of goods as other companies, comparative advantage refers to the production of higher quality goods at a lower particular cost as compared to other companies. One advantage that comparative systems have over absolute systems is that there is the establishment of mutual trade among the countries.
Question 2
One of the characteristics is the substitution of an actual with the expected cost, for example, the substituting the current operational cost with $3,000. Another characteristic is that one can measure the variance. If actual costs exceed $3,000, then the variance is unfavorable. When the actual cost is lower, then the variance is favorable. Standard costing is a measure of performance, for instance, increased performance be 22,000-15,000-3,000=4,000.
Question 3
One of the strategies for overcoming communication barriers and biases is choosing written forms over the verbal forms of communication. Thus, there would be a limited possibility of misinterpreting the message. Establishment of a common communication method, such as use of a noticeboard and embracing the same language in the workplace, would increase the effectiveness of the system
Question 4
The development plan should take into consideration the needs of the employees and t...