Before Preparing a Bid for Any Potential Contract, the Industrial

question 56

Multiple Choice

Before preparing a bid for any potential contract, the industrial firm should first:

• A)estimate the profitability of the potential contract.
• B)assess the probability of winning the contract.
• C)carefully define their objectives.
• D)conduct a preliminary analysis of their expected costs in performing the potential contract.
• E)evaluate the strength of potential competing bidders.

Comprehend the objectives and components of human resources planning.

Understand the impact of employing part-time workers on labor costs.

Learn about replacement charts and their usage in succession planning.

Differentiate between Markov analysis and other business tools.

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Definitions:

Sales

The revenues earned from selling goods or services over a period of time.

Preferred Stock Dividends

Dividends paid on preferred shares of a company which typically have a fixed dividend rate and priority over common stock in dividend payments.

Net Income

The total profit of a company after all expenses, including taxes and operating costs, have been subtracted from total revenue.

Operating Profits

Earnings before interest and tax (EBIT), which is the profit from a business's core operations excluding financing costs and taxes.