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Keynes and Friedman are a bit similar to one another owing to their interests in monetary theory, interventions, and the general way that economies operate. On top of the latter, these two economists were responsible for introducing relatively new and bold ways of looking at macroeconomics hence their recognition both...
Risk is a hazard, danger, or exposure to mischance that can bring about the loss of property or life. There is, therefore, a need to manage the various risks that individuals more often than not find themselves exposed to. There are three main phases involved in risk analysis and assessment....
According to NCB, the export sector is the main driving force of the economy as the export increased by 6.7% in 2010, in which the Irish exporters association based the growth of exports to the United States by 18%, Germany by 42% and to Canada by 27%. In addition, competitiveness...
When starting or thinking about growing a business, several important factors to consider. One key factor is marketing. Marketing involves identifying what the consumers want and how best to maximize the sale of products. It is an intricate strategizing mechanism that requires the input of experts to accomplish the tasks....
Different challenges encountered when collecting data in a work setting relate directly to the data collection method used in the context of partnership case studies involved. To begin with, a case study researcher may miss some learning especially when the case is undocumented from the start. With a lack of...
Electronic commerce is a new way of conducting business transactions over the internet. In this case, it has the ability to radically transform an economy, community involved, businesses, and culture. Economically, electronic commerce affects the market trade in which businesses are conducted. In this case, it enhances new ways of...
Interest rate is a very powerful economic variable in macroeconomic theories. According to Robert Johnson and Patricia Kuby, interest rates play very fundamental roles in determining preferences for liquidity and investment decision. There are different types of interest rates including variable rates, fixed rates, partially fixed rates, and introductory notes....
Introduction Zara brand is one of the top brands in the fashion industry. This is evident through the company’s performance over the years. It has established itself in many regions, including Europe, the United States, and Africa. During the pandemic, the brand still maintained high sales through e-commerce. Many other...
Multitasking is the ability of an employee or a manager to switch between two concurrent ongoing tasks. There is a controversy concerning multitasking and its effect on the performance of employees or the work of managers. Some researchers and business economists argue that multitasking is a skill in today’s business...
Product Strategy Product Strategy is a term that is used to refer to the process of developing a product. A product strategy can be derived from the product’s ultimate vision, which has been described above. It specifies where the product will be used after it has been manufactured. It can...
Defined as the “process of obtaining information about jobs”, job analysis is vital in the determination of the tasks which comprise the job and of the skills, knowledge, abilities, and responsibilities required of the holder for successful job performance. The end product of a job analysis is a written description...
Causes of Integration Failure Cultural Fit The occurrence of non-cultural fit is one of the major causes of failures in the merger and acquisition process. Regardless of which culture will eventually be dominant, all workgroups will be subjected to the same tests, such as cooperation with former customers or suppliers,...
Abstract This report analyzes the business plan of the Alphabet corporation, having Google as its biggest company. In the performed analysis, such methods as a case study and literature analysis involving primary and secondary sources were used. This paper focuses on vision and strategy, competitive capacity, business simulation process, performance,...
There have been various studies on the impact of ‘framing’ on negotiators. To present in a schematic manner, the “prospect theory” of Kahneman and Tversky will be discussed first, followed by an observation of Bazerman et al.’s framing study that describes the reason behind more transactions by positively framed negotiators....
Negotiation is an important aspect of the decision-making process. The term, negotiation, can be defined as a “decision-making process in which people mutually decide how to allocate scarce resources.” Negotiations are often helpful during conflicts without any remedial procedures and when people need agreements without opting for any form of...
International regulations should oblige Texaco to invest in new technologies and new cleaning facilities to support local communities and clean up the polluted regions. Some of this involvement is primarily generous, while other community affairs with which business becomes involved pays a direct return to the company. It is not...
The case of Texaco shows that many international companies violate social responsibility principles and try to achieve financial gain only. Of equal importance, though, is educating society to understand what is going on in the industry and what the industry is trying to do. Texaco has a moral obligation to...
There have been cases where the people who support the marketing and selling of natural fur products have come under criticism and treatment from the anti-fur environmentalist groups. In France, for instance, it has been reported that the members of the People for Ethical Treatment of Animals (PETA) are hitting...
Corporate social responsibility and sustainable business practices are the core of any modern business. Companies can use corporate social responsibility as a core of their business but paying attention to different stakeholders and their needs. Social corporate responsibility will give management guidelines on how to compete with key competitors in...
Entrepreneurship should be considered as an art and a science. Entrepreneurship cannot exist without scientific explanations and economic theories (related to price, market structure and wages, etc.). Thus, it requires the unique and innovative application of traditional concepts and theories. As the markets change or the venture matures, the role...
Low-cost airlines such as Southwest Airlines in the US, Easyjet and Ryanair in the UK and Air Asia in the East face numerous challenges caused by a market structure and increased competition. The main challenges are increased (and unstable) fuel prices which lead to changing pricing strategies, terrorist attacks and...
Entrepreneurship is based on innovative ideas and strategies which help organizations to create new products and services. The exact nature of the entrepreneurial process may vary in these different settings, as will the problems faced and the solutions required, but economically innovative acts that create value for individuals and society...
Labor unions, which once constituted the most active force both in the Public as well as in Private Sector Enterprise, are on the decline for the last 25 years. Membership of unions in America has reduced from 21.4 percent in 1981 to only 12.5 percent, and in the private sector,...
A few days back, students from various colleges and universities celebrated diversity and tolerance in a way they never did before. They ate lunch at a table with the only purpose of meeting a different group of students. Unity in diversity is a spirit of America maintained by the American...
Business expansion involves extending the operations of the business to other regions to exploit the existing market opportunities. I believe that it is necessary to consider the amount of cash available to the business to undertake the expansion costs as they are many. However, it is illogical and uneconomical to...
As evident from the graph, the growth of the tourism industry was very rapid in the 1950s-1980s but slowed down towards the end of the 20th century. This can be explained by three factors. First, the rapid growth of demand was highly influenced by the fact that after the Second...
“Survey on HR” The media survey experience was very enlightening. I was able to confirm some of the things I learnt in class. The questions asked tried to identify the different roles of nurse managers and human resource specialists. Admittedly, many people confuse the role of the two in a...
Nowadays, there are a large number of tools that can be used to analyze and present information in business and economics. When speaking about such tools, it is necessary to discuss a Pareto chart, a tool that depicts the information on the frequency of events and, therefore, can be used...
Organizational culture signifies the system used to guide operations in an organization and is usually depicted as its personality. It often encompasses different practices such as ethical behavior, organizational core values, and the recommended dress code. Every organization has a distinct culture that many find appealing or detestable. Nevertheless, there...
Strictly speaking, no company should engage in unethical strategic behavior, if it values its reputation. However, notions of business ethics differ from one country to another. What is considered wrong in the West may be considered common practice in countries such as Russia and China. In most cases, it is...
Global standardization is a strategy that entails uniformity of production standards, processes, quality, materials, documentation, and other variables in order to deliver a standardized product. This strategy helps simplify and standardize not only the production, but also the logistical and supply chains in order to save costs, streamline and speed...
The proposed Wayside Prestige Car Wash is a new business concept created to provide customized and affordable car wash service to customers. The business will offer minor service, free waxing, and tire pressure check as part of the after-sales charter. The vision of the Wayside Prestige Car Wash is to...
Conflicts and ethical dilemmas are an integral part of any group of people because of the peculiarities of interaction between them. As for me, I was also involved in several ethical dilemmas at work. The central cause of their appearance was the lack of understanding and inability to consider the...
When it comes to adding other elements to a business plan to encourage potential investors, it is recommended to provide a description of a management team and include their previous experiences and accomplishments. This component may spark the interest of investors and lenders because they “feel the quality and experience...
When developing a business plan that captures the attention of the target audience, it is imperative to pay attention to several essential components of the plan. The executive summary is a vital component that everyone reads first when receiving a business plan because it includes an overall purpose of a...
There are three principal types of elasticity of demand. Firstly, it is the price elasticity of demand. Secondly, it is the income elasticity of demand. Thirdly, it is the cross elasticity of demand. It is essential to overview each of these three aspects to acquire a profound understanding of their...
At first, eBay’s global activities was a small company and restricted its business operations only in US, the advancement of information technology worldwide enabled eBay to open new branches in other countries. This move to join commerce assisted the company to increase its global activities adversely. This is because its...
Corporate culture implies the belief, the values, ethics, procedure and atmosphere that is inherent in an organization, and in general is the way an organization does its thing. The cooperate culture, therefore, determines the standards of efficiency in an organization. Co-operate culture has a great role to play in an...
Globalization Globalization involves the opening up of new opportunities and in this case, it is likely to cause new inequalities across the world economies. The economies that have been lagging behind will not have an opportunity to establish themselves because the developed economies are certain to dominate the world market,...
If a company is the source of the business it owns, then the managers and supervisors are the backbones who work with their full potentials to carry out the maximum output from the employees to achieve the set targeted goals of the business owned by the organization. According to my...
Marketing stuff is essential for data forecasting for financial managers due to research which marketing staff conducts to estimate market behavior and future of company’s sales. Financial managers work with historical data which is used for future sales predictions and sales strategies, yet the relevance of this data is not...
Market penetration whereby a company is willing to enter the market to sell its products, and this can be achieved through ensuring that the company has a stronghold in the market and has the goals of raising its sales that is in making its product known to the consumers. A...
A marketing strategy refers to a process in which an organization concentrates on the limited resources and ends up increasing sales and therefore achieves a sustainable competitive advantage. A consumer requires a target-market selection so that they can be able to top know how to protect themselves from the prices...
Cultural assumptions have a great and profound impact on organizational structure, leadership, and decision-making determining the main methods and tools used to achieve long-term growth and profitability. Different cultures have different perceptions of time, space, and human relations. As a decision-maker, the leader’s role is to create relevant order, coherence,...
This issue was raised from the opinion of the Japan Airlines President. He said that US airlines are providing services below their cost on the routes between the US and Europe. As a result of this, they reap profits since the customers choose low-cost airlines. The other airlines are not...
The world’s twenty airlines belong to the United States, Singapore, France, Italy, Germany, Netherlands, Canada, Spain, Britain, Scandinavia, South Korea, Japan and Australia. The biggest airline network also belongs to the airlines of these nations. Analysis of the case shows the heavy traffic in the air routes of these areas....
The valuing of a company is a difficult task. In order to value there is a number of ways are used. They are discussed below: Discounted cash flow The discounted cash flow approach describes valuing a company on the basis of the time value of money. In this, all cash...
Morrison was founded by William Morrison in 1899; initially, their business was egg and butter, based in Rawson Market, Bradford, England. In 1952, Sir Ken Morrison took over as chairman of the company. From a stall there came the inspiration to innovate the way in supermarket retailing. In 1900 the...
There are several lessons that the NHS rowing team and management can learn from the winning Japanese team. First, the Japanese kept their winning strategy very simple: have one person steering and eight paddlings. The rest was left to the team. This resulted in specialization within the team, which resulted...
A home furniture retailer can benefit from a global information system because such technology will help enhance the operations and align the information sharing processes with the strategy of the firm. The general benefits include improved management and coordination. In essence, the Internet use allows global branches of the retailer...
Geographic information system (GIS) is a system developed to store and manage geographic data. The architecture of GIS allows companies to collect, store and manipulate this information. The are many applications of GIS, more specifically in the domain of logistics, it can also be used by different organisations in planning...
Online retailing requires good strategies to ensure that the enterprise can compete effectively in the global arena. Depending on the analysis of diverse factors, specific strategies that are applied to a business may boost or reduce its growth. The vital stimulants of judicious progression in the trade may emerge from...
The depreciation charge is calculated on the estimated useful economic life of the assets at the time of acquisition. If there is a change in the estimated economic life during a period when the asset is under use by the businesses, then there is a need to amend the depreciation...
There are two categories of methods of calculating the depreciation of assets. These groups are referred to as time factor methods of depreciation and use factor methods of depreciation. Both groups of methods differ from each other in many ways. These differences are discussed in the following. Time factor methods...
As a consultant, one can gather the required information from several sources, which include records, memories, and also events and conditions. Any of these sources may vary either by being internal or external to the organization. Records are usually facts stored in forms that are readable or can be transcribed....
The labor market has seen numerous changes in most countries recently, including the UK and the US. The changes in employment rates are among the most prominent trends in the UK labor market currently. According to the UK Office for National Statistics, the levels of employment reached 76.0% in the...
Demand is defined as the entire demand for a product or a service. A demand curve is a graphical diagram that illustrates the relationship between the price of different commodities or services and the amount that will be purchased. Ordinarily the demand curve slopes downwards, that is from left to...
Modern communication technologies offer multiple opportunities for improved management and attainment of better outcomes. One of the possible improvements is related to the sphere of working with subordinates. Several useful options can be used regarding the task. First, some video conferencing software can be used to organize meetings and share...
There are numerous issues that an organization can experience with regard to the cost of various products. First, organizations find it hard to determine the level of credit attributable to a product because of the compensation given to employees involved in the production process. This challenge involves the need to...
A number of factors contribute to the difficulties experienced by airline companies with regard to their ability to attain a level that has neither gain nor loss. The first factor is the high cost of fuel. This is a cost in the airline industry that is liable to change. According...
Long-term investments are very important in securing the future of a business in various markets. The process of deciding the areas in which a business can invest is very complex and requires careful consideration because of the interplay of factors that influence organizational goals. Some of the considerations that a...
Management accountants play a pivotal role within an organization in terms of influencing prolonged success. They have numerous ethical responsibilities with regard to helping their organizations achieve various objectives. First, management accountants have the ethical responsibility of ensuring the confidentiality of financial information within a business. For example, they should...
Business firms use the concept of strategy to achieve one or all of the outlined long-term or overall goals when they face any form of uncertainty. Strategy is an important plan when the available resources needed to deliver goals are limited in nature. This approach entails outlining priorities and goals,...
Many businesses embrace two forms of leadership. These include transformational and transactional leadership styles. Every transactional leader will influence the targeted followers by appealing to their personal interests using valued rewards for services. Such individuals will also be guided to exhibit desired traits and behaviors. The emerging relationship between the...
A business manager can think about business performance in various ways. The first one entails the use of the four Es approach. Such an approach is essential since it helps in pursuing business performance evaluation. This model has four elements that consider all critical business factors. Ford, a leading company...
Human resource (HR) is defined as the assignment of the most trained military personnel to the right place at the proper time, based on their experience, skills, knowledge, and qualities. Human resource management (HRM) is provided through the personnel management system in the U.S. Navy. Such an approach is essential...
A feature of the American social security mechanism for service members is its implementation through specially designed programs. Many members of the U.S. Navy believe that the system of their social and legal protection is imperfect. Dexter argues that after conducting a survey, several issues were revealed. For instance, these...
Introduction The socio-economic context within which business mergers take place has changed dramatically over the past half-century. The main change was institutional in nature and was caused by the transformation of the management system during the transition to market relations (Bansal, 2020). Organizations began to be perceived and then act...
Today, IKEA is considered one of the most famous international trade companies with a turnover of 35.1 billion euros, 325 stores in 41 countries, and 155 thousand of employees (“Ikea in figures”, 2020). One of the reasons for the company’s success, incorporated in Sweden in 1943, is its commitment to...
Managing finances is an important concept that each individual needs to take seriously to avoid unnecessary debt and make future financial plans and investments. If one is not cautious, he or she may focus on the management of their cash flows and financial needs but end up accomplishing little. Simply...
Devaluation takes place when a state lowers the value of its currency compared to other currencies. A country’s currency can be devalued due to the prevailing rate of inflation. When maintaining the fixed exchange rate of a state becomes difficult, the country has to buy its home currency back using...
Households are homeowners who borrow house loans in the form of mortgages. They pay a given percentage of the total cost as a down payment and later make monthly contributions from their incomes. Mortgage brokers are intermediaries that are contracted by financial institutions. They convince households to borrow house loans...
A stock exchange plays various crucial roles and functions that influence the economy in a significant manner. First, it facilitates the regulation of the buying and selling of shares, bonds and securities. A stock exchange defines policies that facilitate fair trading practices and ensures that the activities of its various...
Tax issues that concern both ordinary citizens and the richest people in the country have always been a controversial topic. However, the belief of many that reducing payments to the state can improve the standard of living is wrong. Leopold argues that today, the American tax system is characterized by...
Insurance is the most worrying issue concerning insurance due to the significant number of uninsured or underinsured Americans. Without comprehensive insurance, individuals face major financial risks if they should become seriously ill or injured. Some services cannot be provided by hospitals unless someone has a comprehensive insurance cover. This has...
Several reasons can explain the strategies of IRD. First of all, medium-sized restaurants often resort to such practices as paying wages and salaries to the registered personnel part-time workers because the profitability of these enterprises is lower, especially in comparison with larger eateries. If they force employees to pay PAYE,...
The use of Radio Frequency Identification Technology (RFID) in the supply chain might seem long overdue to some people, yet to others, it is a brand-new idea that could work. To others, this is a working system in their businesses. RFID is a system that typically has a tag/label bearing...
Fostering change in an organization is crucial for the success of the proposed change. It enables the organization’s staff and stakeholders to embrace rather than despise the change. As a leader, I would take several steps to ensure that I foster rather than impose change. The first step would be...
The number of routine activities increases with introduction of a new warehouse, inventory tasks and volume directly increase within the logistics system. When the customer demand remains constant, and the number of the warehouse are varied upwards within the logistics network then the cumulative effect on inventory will be an...
An execution-only transaction is a transaction carried out by a financial advisor or broker according to the will of the client. Under this arrangement, the client already understands what they want and requires no advice from the financial advisor concerning the transaction is required. The only task for the financial...
Tax exemption is the exemption from all or some of the taxes as stipulated in the laws of that country or state. The exemption reduces the tax obligation due from an individual or organization and the tax is foregone. The exemption process will vary in each particular country or state....
Introduction There is an extended list of measures that companies need to take in order to make sure that their employees are comfortable, incomes increase, and customers and clients get satisfied. One such measure is personnel security – an essential step that is typically overlooked by most organizations. There are...
The future is quoted to be the era of technology. Therefore, there are multiple opportunities in the IT field. More & more vacancies & employments are coming up due to the increasing control of computers in our daily life. Accordingly, computer and IT technicians are needed to fulfill the growing...
The innovators in the sphere of retail have the potential to increase their sales by taking the customer experience to a new level. For instance, AT&T in Chicago was one of the first to showcase different user-adaptive interactive mobile technologies such as an Internet-enabled car or preference-adjustable product shelves (Greenwald)....
The switch from time rate to piece-rate affects recruitment. The transition of increasing the workers’ wages to increase their productivity and efficiency is a possible cause for unemployment. The enhanced workforce productivity rules out the need for more workers, and the workers’ wages are higher than the equilibrium wage as...
A shift from compensation based on the time put into work to compensation based on the pieces produced (quantity) has significant overall output changes. The theory behind this is the wages that each type of compensation yields and the worker effort that each mode of compensation triggers. Recent research shows...
“Global city is a relatively new phenomenon that has been generated in the present period by the development of an all-encompassing world system that is termed as late capitalism, post-industrialism, or the informational age.” The characteristics of global cities include expansion of marketing system through internalization of commerce and technological...
Marshall had the fear that mathematical concepts were more likely to become the Ricardian vice. He warned that while mathematics is good, mathematical economics and mathematical theory were not likely to yield good economics. He argued that mathematical methods were only a good tool if it was to be used...
The mission of ARC is “will provide relief to victims of disasters and help people prevent, prepare for and respond to emergencies.” The National Inventory Management System (NIMS) gives the Red Cross the ability to share vast quantities of precious blood resources during shortages or in times of natural disaster....
There is no denying the importance of the fact that Australia’s merchandise trade is differentiated by regional parameters. It should be noted that among the leading trade partners are the majority of developed and developing countries of East Asia and the Asia Pacific, such as China, Japan, Korea and New...
Table 1 analyses the changes in the world tourism trade from 1986 till 2006 in the number of exports. To begin with, the most evident conclusion from this table is that developed countries of the West such as Germany and the United States were dominant tourist countries during the last...
The core of Porter’s international strategy is the value chain. Following M. Porter, the value chain is the sequence of activities, from start to finish, by which the product or service is transformed from an idea to a consumable form. For instance, if the product is multimedia equipment, the chain...
Victoria’s Secret is one of the companies which relies on Internet data collection and market analysis. The company uses survey results obtained from online questionnaires and users’ profiles. The uniqueness is that Victoria’s Secret creates its assortment and product lines in accordance with expected and anticipated market demands and needs....
Initially, the client is asked what changes he or she would like to make in their dream. Since it is the client who created the dream, it would be possible for them to change it too. This is a creative way to get the client to start thinking about making...
The discounted cash flow method overcomes the central weakness of the payback and ARR methods by focusing on cash flows and adjusting them to reflect the time value of money. To evaluate investment alternatives effectively, the cash outflows and inflows relevant to each proposal must be determined. As cash is...
Generally speaking, risk can be defined as the chance that the actual outcome will differ from the expected outcome. In investment appraisal, we are concerned with evaluating the riskiness of a project’s future cash flows. In other words, we wish to evaluate the chance that actual cash flows will differ...
The Road and Traffic Authority (RTA) is providing more public utility services and the stated objective of knowledge management initiatives in RTA is to make the organizations’ functioning more effective so that it becomes better and error-free ‘record keeping’ for the public at large. But on the other hand, the...
The case depicts a scenario in which Rick Fire an enthusiastic national sales manager for a consumer goods company comes up with a new idea to sell a new product in the market. The company manufactures and sells consumer goods with department and superstores the likes of CostCo, Wal-Mart, and...
Americans are obviously not happy about the ever-increasing price they have to pay for gasoline. Therefore, many are advocating that the solution lays in the government enforcing price controls for the price increase is due to the company’s greed. There are disadvantages and advantages of price control on gasoline. To...
The fact-finding stage in the Systems Development Life Cycle plays an extremely crucial role in the success of the overall proposed system. There are several fact-finding methodologies that can be employed. Usually, covering the current and historical requirements, interviews, questionnaires, prototyping observation, and Joint requirements planning (JRP). Incomplete requirements definition...
Currently, Rashid Enterprise is willing to receive payment in British pounds for the monthly exports it sends to the UK. While all of its receivables are denominated in pounds, it has no payables in pounds or in any other foreign currency. Yasmeen, the owner of the firm, wants to assess...
The demand and supply in the tourism industry are affected by a wide variety of factors, including political, economic, social, technological, legal, and environmental. For instance, the post-9/11 legislation influenced the immigration policies in many countries, making it harder for the tourists to enter, whereas the development of aircraft technologies...
