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The Solow Growth Model is a prominent example of the exogenous model of economic growth. Obviously quite different from endogenous growth models; still, the Solow Growth Model is not inherently opposed to them. The main difference between the exogenous model and endogenous model lies in different approaches to the achievement...
A national economy is an extremely important factor shaping the country’s profile, its power, the level of the population’s welfare, and the state’s role in the international arena: “A national economy is the organized process of developing markets for natural resources, industrial production, agricultural output, and technological innovations. All nation-states...
For large companies, regardless of their size, trade turnover, and financial benchmarks, it is fair to note that there is a need to choose the best organizational solutions that promote economic and political development. The effectiveness of the policy analysis used in management practices directly depends on the enterprise’s productivity...
The global quality standards are an unambiguous concept as the quality is always of much priority to define various expressions. The quality considerations relating to the economic concept are much more significant. It is only the quality that makes the product durable and reputed; when the quality of the product...
The commonly occurring economic changes determine the changes in the interest rates. In the current scenario, lenders are more interested in risk-based pricing in the process of consumer lending. It is “ranging from credit cards to car loans to even your home mortgage.” The core concept in risk-based pricing is...
Business ethics is one field of study that has been questioned by many. Several practitioners do not find any importance of including this study within business realms. However, studies have pointed out that ethics is a very essential part of the business world. The Game Theory gives an appropriate vantage...
The fact is that financial risk is any risk that is closely associated with the matters of profitability and financial well-being of any company. The companies, which were involved in the risky financial operations may either succeed or experience total failure, as everything depends on the financial circumstances and actions...
The case of Merck shows that a successful company should introduce innovative approaches and methods in planning and strategic thinking in order to compete on the market. The process of the strategy itself is instructional, exemplary for decision-making throughout the company. While the fullest involvement possible is the preferred course...
EMS, or Environmental Management System, refers to an organization’s business’s surrounding programs in a complete, methodical, intended, and documented method. It consists of the organizational structure, scheduling, and finding resources for expanding, executing, and preserving a plan for environmental safety, etc. It provides a framework for the development of both...
The Internet changed the way things are for businesses and organizations. It is seen as a significant contributor to the globalization of culture and the economy. The Internet, the World Wide Web, and globalization are almost synonymous because their functions point to the interconnectedness of computers, and communications have become...
Company leaders must take the initiative in setting out how the company should function and operate, but they must also be dynamic in responding to needs and requirements as they arise. Effective strategic management must enable companies to move quickly in response to new challenges and replace outmoded ideas and...
The modern business environment is characterized by fierce rivalry. It means that companies have to generate a competitive advantage to be able to compete and attract clients. The diversification of product lines is one of the possible ways to achieve the given goal. It means that a company might have...
Every organization is supposed to act as a system that contains many sub-systems. Examples of these subsystems are humans, technology, information, management, etc. The larger the size of the enterprise, the more will be the complexities surrounding the interactions between these subsystems. “Such systems, because of their size and complexity...
The percentage of information system (IS) failure is very high. Almost 25 percent of the projects undertaken fails. A project is said to have failed when the project budget overruns by 30 percent or more, the project schedule is overrun by 30 percent or more, and/or the project was canceled...
In 2008–2009 most of the industries in the world have entered into a deep recession as a result of the financial crisis that had its origins in impulsive lending practices and distribution of mortgage debt in the United States. Sub-prime loans losses in 2007 exposed other risky loans and over-inflated...
Market strategy is defined as an action plan for influencing customer choices and obtaining a market share. Marketing strategy focuses explicitly on the quest for long-run competitive and consumer advantage and is based on analysis of consumers, competitors, and other environmental forces. It is actually a statement of how a...
Five Forces Analysis The Five Forces Analysis facilitate the vendors to difference a ready for action environment. This analysis has correspondence with further apparatus for environmental audit as well as PEST analysis. But it tends to centre of attention on the sole, situate alone, business or Strategic Business Unit to...
Tesco takes four different strategic decisions regarding their growth and expansion. These four strategies are: Make a substantial growth in their core area of business, that means the UK. Make the growth of the business through the international operation. Diversification through giving extensive importance to non-food items as their main...
DPWN’s sustainable competitive advantages drive it to business success. DPWN identifies 4 trends that are currently assembly a strong impact on its business to be successful, they are: GlobalisationGlobalisation has stormed the business to reshape in global prospect and to cope with the challenge of a multicultural environment. The exclusion...
The first product I choose for the high involvement purchase is an automobile, and the product I choose for the low involvement purchase is paper. High assets value good that is subsequently obtained to extensive and cautious consideration, for example, a car, automobiles, etc. In the case of High Involvement...
Any company’s annual report is a comprehensive document of its financial and operational condition. These reports are heavily regulated, and they have to strictly follow the set of rules set forward by the regulating bodies. To make sure that the companies follow these rules, they have to conduct an external...
It can be stated that labor issues contributed to the success of the company on several levels. On the one hand, the location of the plants can be seen as an important factor determining the cost of labor, which is consequently reflected on company’s profits. On the other hand, labor...
Interest rate refers to the amount which is received in relation to the amount loaned and which is expressed as ratios of dollars that is received per on-lent per hundred dollars. There are many factors that influence the interest rate in the current US economy. It is very difficult to...
The capital allocation decisions are closely related to the issues of money movement, and the general allocation of the financial reserves, aimed at overcoming the consequences of the financial crash. Thus, as it is emphasized by Birger: “Alternative assets, as well as small-cap stocks and foreign issues all, soared while...
Distribution methodologies in the sphere of the oil and gas industry are generally defined by market tendencies and processes. In spite of the fact that the actual importance of these methodologies is defined by the attitude of the managerial team towards the aspects of business performance and the business situation...
Markets division is a showcasing term alluding to the collecting of planned purchasers into gatherings, or portions, that have regular needs and react comparatively to a promoting activity. Markets division empowers organizations to target diverse classifications of shoppers who see the full estimation of specific items and administrations uniquely in...
According to Howell, the expense is considered deductible if it meets certain requirements. They include the following: Be purely for business reasons Not be a lavish but ordinary and necessary business expense Be Incurred during business activity Be sufficiently accounted for in records Expenses incurred for business purposes are deducted...
In 1980, Porter developed a structure for analyzing the nature and extent of competition within an industry. His argument was that, in every industry, there are at least five competitive forces that establish the nature of competition within that industry. These five forces are discussed below: Buyer’s Bargaining Power. Buyers...
It is normally found that investors are more concerned about their portfolio of total investments rather than the valuation of individual investments. Therefore, it is quite possible that one or two individual investments in the basket may be high risk and thus contribute to overall high risk. The Capital Asset...
A recession is defined as a slowdown in economic activity. Recessions in the economy customarily come about because of a reduction of the GDP growth rate of the same nation. They are, in most cases, characterized by a decline in business investments, a fall in sales, and a decline in...
The focus group is a group discussion that gathers together people from similar backgrounds so that they can have a discussion on a specific topic of interest. They carry out interviews on the people’s cultures and beliefs. The advantages include: the group provides a lot of information in a quicker...
Compass Group was alleged by the UN in 2005, and all investigations about its bribery case were done by the US. A company sponsored by Compass Subsidiary Eurest Support Services (ESS) was involved in supplying food items to UN peacekeepers and tried to get information about UN tenders and contracts....
Project planning, an inevitable part of project management, involves a set of schedules such as Pert charts, Gantt charts, etc. Thus it plans and thereafter reports the progress of design within the project environment. According to the objective and defined scope of the project, appropriate methods for designing the project...
The main objective of inventory management is to minimize various types of costs associated with the acquisition and storage of stocks. The importance of inventory management lies in two dimensions: The performance: to ensure the continuity of production and shipment of finished products. Efficiency: inventory management should be organized to...
Communism economic type assumes strict regulation of production and consumption following the capabilities of the economy, the interests of society, and then the interests and status of individual citizens. The presence of a market for goods and services under capitalism and the absence of such a market almost or completely...
The internationalisation process of MAPFRE could be a highly striking and appealing method of growing sales and profits. It could be the remedy to slow down market growth at home and a defence mechanism for MAPFRE that was under strong competitive attack. When an attack is coming from a foreign...
Different stakeholders define the quality of care differently depending on their motives. For instance, shareholders of an organization will define quality in terms of cost minimization and profit maximization because their major interest is to get the highest returns on their investments. An organization’s management, on the other hand, will...
Organizational communication is usually structured in a way that enhances effectiveness by ensuring that the intended message reaches the right audience at the appropriate time. In the context of criminal justice organizations, this assertion calls for both formal and informal communication to be elaborate, clear, and precise to avoid miscommunication...
The structure-process-outcome is one of the tools used in quality improvement. Structure refers to the particular organization responsible for providing care. It is characterized by elements such as “staffing patterns, programs, finances, facilities, and size of the organization.” A process, on the other hand, entails “examining what must happen when,...
There are many measures of organizational performance that can be used in healthcare organizations. The first measure is leadership. Because most, if not all, healthcare organizations have adopted quality improvement initiatives, leadership is an important element that determines whether or not the organization will achieve its objectives. Leadership is indeed...
The term globalisation connotes the integration of national economies into a single worldwide economic system. Globalisation has spruced the markets, competition and the free flow of knowledge, services, goods and capital. Globalisation has bestowed quicker development, easier access to novel technical know-how, and offers cut-throat competition through cheaper imports. Globalisation...
Reinartz and Kumar presented a model where customers are segmented into four dissimilar classifications. These classifications are drawn based on the forecasted length of the relationship, and level of profitability, which are used as variables of defining the customers’ level of customer loyalty. From their argument, reference is drawn to...
The investment of choice will be in the financial market through non-equity securities, especially bonds, due to the limited capital. Under the recession, the output was reduced significantly. This resulted in business and individual preferences to save on their money, as Keynes stipulated. This implies that savings were more than...
They are very much committed in marketing and promoting their products in a very responsible manner. In 1985 the company was renamed Labatt USA. It is an associate of KPS Capital Partners, LP. The CEO of North American Breweries, Mr. Rich Lozyniak said: “Positive changes are brewing. We’re reviewing every...
To facilitate large business enterprises to function in a smooth way, an ERP system is essential. While selecting or implementing a new ERP system in a business, the vendor should be aware to provide the best and most suitable one. The development of software needs huge costs, so the vendor...
“Advertisement is any paid non-personal form of presentation about a product that is selected and delivered through a mass communication medium. Advertisement is considered as a method of mass promotion as it reaches many customers. It plays a very vital role in making known, promoting, persuading and connecting the advertiser...
The Value Chain model of Michael Porter can be used to analyse specific activities through which firms can create value and competitive advantage. 24/7 Overnight Couriers is a small national courier firm that has ten regional depots and one logistics centre across the UK. It is a profitable overnight courier...
Interest rates are the equilibrium price in a financial market through which borrowing and lending of money occur. A country’s central bank is responsible for implementing the state’s monetary policy. The monetary policy provides the central bank with the necessary tool to manipulate the interest rates. The integrity of a...
Organizational change is inevitably driven by the emergence of new products and technologies, evolving workforce environment, and new government regulations. However, all efforts at organizational change are associated with numerous problems that cost managerial time and damage morale. It is recognized that organizational changes are always met with varying levels...
There are three components within market orientation that determine how a company will implement a marketing strategy within the competitive environment that it finds itself in: These components are comprised of the following: Customer orientation Competitor orientation Inter-functional coordination. When it comes to marketing strategies involving customer orientation, a company...
The first-mover advantage could be seen in the perspective of “the advantage that a firm or country may derive from being the first to enter a market, or from being the first to use a new technology, advertising technique, etc.” In other words, first movers could be seen in terms...
Innovation is an essential tool for business development and success. In today’s business world, most of the major market companies do have their Research & development sectors, departments, which constantly seek to find new routes, new alternatives for the company to be successful in the market. These companies rely heavily...
It is important to gather information from the customers previous to developing a successful, innovative, new product to launch into the market. But, even if you got all the information necessary about customer desires and needs, you have to come up with a brilliant idea of how to fulfil those...
In conflict management, there are two primary ways to alleviate confrontations and consequent struggles. First of all, process interventions aim to regulate a series of actions resulting in a conflict in their progress, directly interfering and interacting with them. On the contrary, structure interventions seek to examine and alter preexisting...
Table 1 shows that historical trend starting from the year 1950 to 2010. Based on the historical data, it can be concluded that a direct correlation exists between the international tourism arrivals (Y) and the international tourism receipts (X). A linear regression model can be used to forecast the trend...
The HR managers are under various pressures of management challenges. The managers from around the globe identify various pressures to be common and globally available for all HR managers. The three key global pressures named were: Deployment, Knowledge and innovation dissemination, and Identifying and developing talent on a global basis....
The digital technology economy requires the development and involvement of intermediaries, information technologies, and different market platforms. The modern digital market covers the usage of two major intermediary types such as “two-sided platform” and “merchant.” The first type means direct selling to the buyers, while “merchant” means the reselling of...
Economic recession is a serious challenges faced by all of the world economy players. The major causes that leads to recession was falling prices in the property market, rising unemployment, increasing bankruptcy situations among the individuals as well as corporate organizations, down ward trend in the stock prices and decreasing...
Businesses should be accountable for their environmental practices, whether it is a highly profitable company (e.g., a casino) or not, and print a true account of their activities. They should be regulated on a societal level and more environmentally conscious. Any entrepreneur who goes into business aims at satisfying the...
It is true people are susceptible to organizational dynamics as Messick and Bazerman suggest. The manager of an organization makes decisions every day, all the time on behalf of the organization. He/she should be careful to always make the right decision, otherwise, it affects the entire operations of the institution....
New product development is one of the most important marketing processes for many companies because it is responsible for the revenues and margins that a company can achieve and its ultimate value. Therefore, it is the identification of an opportunity in the market and ends with the successful launch of...
An internal customer in an organization is an employee who “you count on or rely upon to complete a task or a function or to provide you with information so that you can get your job done…and anyone who counts on you to complete a task or function or to...
As is evident, this assimilation would result in cost and effort savings while rendering the company more efficient and streamlined. In every organization, there are certain key functional areas like finance, personnel, production, warehousing, etc. Through ERP, it is possible to link all these separate departments into an ERP is...
The theory refers to an asset pricing model based on the idea that t is possible to project the returns of a particular asset by establishing the relationship existing between the asset and the existing risk factors. Arbitrage Pricing Theory (hereafter referred to as APT) is based on the assumption...
In a perfectly competitive market, all producers sell the same goods or services. A single seller or buyer cannot influence the price – it is established by balancing supply and demand. In a market of pure competition, there are no restrictions on entry and exit. Explanation: Perfect competition was considered...
The selection of the depreciation method is the most important decision. Like straight-line method would be used when the amount of asset’s service is used up is approximately the same every period. An accelerated method is used when an asset is more productive in the earlier years of its estimated...
The purpose of the creation of allowance for doubtful debts accounts is to keep separate some portion of the income to meet the actual bad debts occurring during the coming accounting. That shows that the creation of such an allowance actually reduces the amount of income by that amount. That...
Advertisements were mainly used for informing and educating the customers regarding the availability of certain products and services. It also obliquely intends to promote the use and sales of the products in question. While the primary aim of education is to educate and inform, it has, in effect, also tended...
Managers get things done through other people. They make decisions, allocate resources, and direct the activities of others to attain goals. Managers do their work in an organization, which is a consciously coordinated social unit, composed of two or more people that functions on a relatively continuous manufacturing and service...
All the performance management systems employed in the organizations measure both the achievement of long-term as well as short-term goals of an employee. Strategy is more concerned with the long term, and the emphasis on short-term orientation affects the strategy implementation within every organization. Also, goal displacement is another factor...
Nordea is a bank emerged by the merging of some Scandinavian bank. Its competitive environment can be best understood by the use of models developed by Porter. Threats of substitute products or services: Positive: Nordea use the internet that increases the efficiency of their operations, and by this, they are...
The fundamental planning process consists of the following steps: team building, modeling, and consensus; evaluating the achievements of an organization and available resources; analyzing business, economic, political, and societal environments; anticipating and evaluating the impact of future developments; building a shared vision and deciding on what goals they want to...
It is very difficult to give an appropriate definition of licensing arrangement. To understand the licensing arrangement, first, it is the sine qua non to comprehend what is licensing. The Encyclopedia of Small Business states that “According to Pat Upton, author of Make Millions in the Licensing Business, licensing is...
The critical chain method is an advancement over the theory of constraints used for managing projects. The critical chin method basically involves taking care of the bottlenecks, i.e. the critical steps involved in the project completion. Once the critical chain of events is identified by the project management team, requisite...
Companies are generally liable to pay corporation tax on their profits after certain adjustments, and more taxable profits mean more corporation tax. This impacts the cash flows of the company—an increase in the tax payments increases the cash flows out of the company. A company usually has up to nine...
The inventory system adopted by American Red Cross (ARC) has to be modified by the application of scientific methods from the stage of collection to its distribution. The collection of blood can be easily maintained by the adoption of elaborate propaganda activities for informing the people about the need for...
Companies run on the effective business which brings beneficial revenue to its entrepreneurs and stakeholders. Due to globalization, companies are trying their best to improve their operations and teams according to the modern techniques and competition, and so is the company we are dealing who wants to introduce its team...
Cash equivalents include short-term (no more than 90 days) engagements “with temporarily idle cash and easily convertible into a known cash amount”. For example, there are such items as money market funds, commercial paper, treasury bills, marketable securities, and short-term government bonds. Explanation: Cash and cash equivalents (CCE) is an...
The customer buying decision process is gone through various stages. So, each of the customers went through all these stages to make the buying decisions. Various theories explain the buying behavior of high and low involvement products. In the case of high involvement, it takes more time to complete the...
Benjamin F. Fairless once said, “What is the recipe for successful achievement? To my mind, there are just four essential ingredients: choose a career you love, give it the best there is in you, seize your opportunities, and be a member of the team”. The Best Way to Achieve the...
Three factors affect the length of a resume: the variety of applicant’s experience (the number of jobs replaced); applicant’s uniqueness as a specialist (distinctive features related to skills, competencies, and knowledge); features of the position for which the applicant is applying. Explanation: A resume is the first thing you need...
Cultural artefact means somewhat created by man through which he wishes to represent a culture. Organisational culture means system shared beliefs and values that develops within an organisation and guide behaviour. “A child’s culture may be the mainstream or dominant culture, or it may be one of many subcultures that...
As countries mature economically, the channel structure seems to approximate that of China. Retailers become larger and more efficient and introduce self-service. But these channels must be altered to suit the environment. A supermarket in Japan or Italy is not the equivalent of one in China. Wholesalers often serve as...
It is seen that the most important asset of any business is its reputation and its ability to attract and retain customers, vendors, employees, stakeholders, etc. A company’s reputation is the most crucial factor that builds trust between people and helps each other in time of need. Building of reputation...
Jones Corporation has emulated the phenomenon of converting its business portfolio from a local perspective view to an international status. Through implementation of the extensive marketing strategies, and expansive geographical market segmentation in Europe, Middle East and Africa; North America; and Asia-Pacific, Jones Corporation company has been able to improve...
The use of the FIFO method for inventory valuation improves the net profit margin and current ratio because of the following features of the FIFO method: Under the FIFO method, the prices at which units were most recently purchased are assigned to ending inventory. As a result, ending inventory valued...
There have been several aspects that needed to be evaluated and corrected by the Government with regard to the relentless losses that were being incurred by British Airways over some time, and they were mainly in the areas of: Steep hike in fuel prices. Airlines operating in a highly controlled...
In answering this question, many of the company’s aspects as regards its success and failure need to be thoroughly scrutinized. The strategies that were made have been discussed above. They are also the same reasons behind its failure. This, therefore, serves in shedding some light on why the company lost...
The Common Stock of a company has the capacity for providing unexpected future cash flow inflows. Therefore, the stock’s valuation consists of two elements: The dividends that need to be paid each year. The prices investors expect to receive when the stock is sold off at a subsequent date. Hence...
JetBlue Airways’ strategy can be explained as a customer-oriented approach based on unique perceptions of the needs and expectations of people. The regional airline business succeeds because of unique strategies and the market niche occupied by airline carriers. The regional airline industry consists of independent carriers specialized in short-haul flights....
Care Tech is operating in a very sensitive industry, and its success is based on the management’s ability to plan for its resources appropriately. The financial resource management system offers the management unit of this organisation a rare opportunity to understand various forces that may require urgent addressing and those...
In the course of giving leadership, leaders are faced with different situations, which require specific techniques and distinct decision-making approaches. It is prudent for leaders to acclimate leadership styles to specific situations and use leadership styles flexibly to allow effective goal achievement and development. Adaptation during crisis. Occasionally, crises arise...
The attempts to attain the higher levels of quality of goods and services can be viewed as a method to generate a beneficial advantage and struggle with rivals. For this reason, the companies try to create their own unique quality management framework and increase clients’ satisfaction levels. Toyota, as one...
Porter argues competitive advantages as the way by which a company competes in the market. It is a set of tools or advantages that able a company to get an extra benefit over the competitors. To sustain itself in the market, every organization requires unique sets of advantages, which its...
As business becomes more complex, many companies may face a large number of potential & operational corporate risks. Thus, Dell is not exceptional in this case. Several problematic issues for the company are: By engaging in a hedging strategy for foreign currency that was much risky, Dell faced difficulties in...
Harley Davidson is one of the leading brands in the world. The company has its origin in the year 1901; the founders of this company were Mr. William S Harley and Mr. Arthur Davidson. They started with designing and developing the engine that could suit the motorbike. In 1903, they...
In order to understand the relationship and difference between management and leadership, it is important to understand their meaning. In simple words, management refers to managers. The manager’s primary obligation is to the organization he/she works in. His primary task is to manage his subordinates in achieving the organizational goals...
Generally, a skilled leader is expected to perform the following functions: Understand and interpret the circumstances in which the organization or team wants to operate. Clearly set the objective and prepare a plan to achieve the objectives. Execute the prepared plan in a brilliant manner. Determine the impact of the...
An authentic leader is one who modifies their behavior in accordance with the situation such that they can effectively respond to the need of their followers. Authentic leaders demonstrate four main characters: Understand and respond to the core of the organization; Must know who he/she is and how this self-knowledge...
Tesco Plc is the largest grocery and general retail chain merchandising business in the United Kingdom with International priorities, which has more than 2,318 stores all over the world. Every year its profits rise about £2 billion, it employs more than 450,000 people worldwide across all of its business and...
The investment policy of Urban Outfitters Inc. is extensive enough, and in order to update the data of the case, it should be stated that the investment rate has only increased. Thus, in accordance with Wiki Analysis: “Urban Outfitters, Anthropologie, Free People, and Terrain (launched in 2009). 78.9% of its...
The micro level examination is generally made in various enterprises by implementing Porter’s five forces. “Porter’s five forces are the: Bargaining power of suppliers; Bargaining power of buyers; Threat of new entrants; Threat of substitutes; Rivalry among competitors. The bargaining from the suppliers comes into picture when Kellogg opts for...
