When the price of coffee is Ksh 100, the demand for tea is 120 units. When the price of coffee increases to sh. 140, the demand of tea increases to 160 units. Calculate the cross elasticity of demand

Explore the potential of other rural tourism events at the Kielder Water and Forest Park can organise to reduce the impacts of seasonality and improve the business sustainability
September 7, 2018
Discussion 300-500 words due today in a few hours
September 8, 2018
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When the price of coffee is Ksh 100, the demand for tea is 120 units. When the price of coffee increases to sh. 140, the demand of tea increases to 160 units. Calculate the cross elasticity of demand

1. a) Highlight FOUR planning skills required by effective managers. (4 marks)

b) Explain four considerations taken into account by top managers when formulating policies. (6 marks)

c) i) Differentiate between decision making under risk and decision making under certainity. (6 marks)

ii) State two rules that govern brainstorming as a decision making technique.(6 marks)

d) There has been cases where management by objectives (MBO) has totally failed in organizations. Outline FOUR reasons for such failure. (4 marks)

2. a) Explain the meaning of the following terms as used in organizing:
i. centralization;
ii. accountability;
iii. coordinating. (6 marks)

b) State FOUR functions of the directors of a company. (4 marks)

c) One of the recent approaches to management of industrial organisations is the application of ‘operations research (OR)’ techniques in resolving managerial challenges. (i) Outline the steps followed in this approach. (ii)Highlight FOUR managerial challenges which can be addressed using OR techniques in an industrial organization. (10marks)

3. a) (i) Distinguish between a market economy and state-controlled economy. (ii) State TWO limitation of a market economy. (6marks)

 

 

 

 

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