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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...
Stephan Davis was an ex-BRL executive who was appointed by Steve Millar as the newly merged company’s group marketing and export manager. Davies had been a successful executive at BRL having successfully expanded the company’s business abroad. Christopher Carson was the managing director of Hardy’s UK company and had over...
Sometimes, economies enter crises as a result of the combination of various circumstances. Governments may try to address these situations by implementing laws, which become known as stabilization policies. The advantages of such an approach are apparent when the efforts to rescue the nation from its issues come to fruition....
From the undertaken picture on the shelf, it is possible to identify the points of difference (PODs) and points of parity (POPs) for each brand. The buyer will take the shortest time to pinpoint the PODs associated with these brands. The table below gives a detailed summary of such differential...
When a firm wants to attract, retain and motivate workers, employee benefits are one of the major factors that can achieve such because it is but a nature of any person to work harder if they know they can get something good out of their venture. Fact remains that benefits...
The field of business ethics involves several issues, situations and opportunities. These are instances where a business organization finds itself in a position where they have to make a decision by considering their own benefits or consider the ethical issues within this situation. In most cases, considering ethical issues would...
Telecommunication companies are being faced by a challenge of continuous developments in information technology. The organizational culture is created automatically when people come together because they combine energies, attitudes and thoughts. Culture is powerful and is woven by those in the group through their thinking. The company’s culture determines the...
According to Hammond, there is a recent trend when it comes to the obsession with operational effectiveness over strategy. The difficulty in analyzing this problem stems from the fact that there can be different interpretations when it comes to operational effectiveness and strategy. Thus, the best way to start is...
Nowadays, in the business world, companies are expanding their activities on a global basis. Mergers and acquisitions are turning small to medium companies into real market giants. To think that only a few years back, one or two decades ago, companies conducted business in certain local markets. These factors made...
The cost of capital is a dynamic concept affected by different economic and firm-specific conditions. That is why the company accepting any project has a risk even if the WMCC schedule demonstrates the benefits of this project. There are business and financial risks for the firm. As for the business...
The currency is one of the most fundamentals of human invention. The currency is the basic quality of general acceptability, it acts as the medium of exchange, a measure of value. Standard of deferred payments and the store of value. The most vital characteristic feature distinguishing the currency from the...
JetBlue’s business-level strategy can be summarized in the words of its founder: To bring humanity back to air travel. In simple words, it means to increase the number of people that choose air flight as a mode of transportation. JetBlue had a clear vision since its formation that the increase...
Marketing research is a process that brings the researcher to a closer understanding of the desires and needs of chosen customers or clients to know how to attend to them better. The basic steps applied in marketing research include the following. Identification of what is to be studied and defining...
Any organization should have a mission that will guide towards the future highlighting the major priorities of the organization. It provides direction and purpose which are vital in motivating and encouraging the employees creating an atmosphere of responsibility. The vision of a company sets the pace and points to the...
Pricing can be defined as the method of determining what a company achieves after supplying its products. Methods of pricing a product The following methods are used when pricing commodities. Premium pricing is a process whereby the price of a commodity is priced consistently at or near the possible price...
An organization may require cash for various motives. It might require working cash flow to pay providers, wages, or bill reserves for a specific venture or exchange or an emergency. Most organizations raise funds through a mix of value and debt financing. Debt funding comprises raising cash by acquiring from...
The electric car industry is likely to evolve and gain a considerable share of the entire car market. At present, the electric vehicle market comprises only 0.5% of the overall car market. It might take over up to 20% of the market within a decade. The external environment is quite...
Firstly, what organizations must do is completely comprehend protection as an intense approach to moderate political hazards. While at a full-scale level, political hazards and fiascoes are exceptionally hard to oversee, at the organization level, the political hazard can be guarded against for a premium. This comes at a significant...
One of the ways to guarantee the increased effectiveness of employees is to motivate them to achieve new goals. For this reason, it is critical to find practical tools that will help to work with minimum wage earners in an order-fulfillment center. First, a Chief Operation Officer should introduce a...
Global interest rates will remain low in developed countries this year. There is a high chance that the global interest rates will remain low due to a savings superfluity. The logic behind this supposition is that developing nations such as China are saving more money than they require. Consequently, the...
Observation of the code of ethics is a critical aspect of an organization’s functioning as it helps to remain popular among its clients. For this reason, the involvement of consumers in controlling ethical behaviors can be an advantageous strategy to increase the popularity of a brand. The plan to attain...
The central aspect affecting Sears is the extreme rivalry peculiar to the sphere. For this reason, the brand has to acquire a strong competitive advantage to attract clients. One of the possible ways to achieve it is to change the corporate culture towards higher levels of excellence among its workers....
Monetary globalization is comprehended as the mix of a nation’s fiscal framework with worldwide money-related markets and organizations. This combination regularly requires that legislatures change the local budgetary segment and the capitalist record. Multinational mergers happen when changed economies encounter an expansion in cross-country capital development, including a dynamic investment...
The main reason why subsidiaries translate their financial statements is to enable the parent company to prepare consolidated financial statements. Accounting standards stipulate that all listed companies must prepare their consolidated financial statements, including those of their subsidiaries. The method used to translate financial statements ought to reflect the relationship...
The continuous improvement of services provided to clients is one of the major aspects of modern organizations’ functioning. Under these conditions, total quality management (TQM) becomes a potent tool that helps managers in different industries satisfy customers by creating a customer-centered value and culture and monitoring the quality of provided...
The implementation of TQM is one of the central factors needed to enhance the performance of a particular unit and ensure that it provides high-quality services to its clients. Unfortunately, the process might presuppose some barriers and resistance to change from the personnel deteriorating the outcomes and preconditioning the incentive’s...
The travel expenses of the director from Sydney to Armidale meet the criteria set by AASB for an expense to be capitalized. Moreover, according to International Accounting Standards, research and development costs can be capitalized if they add direct benefits to the value of the asset. The director’s trip to...
American military personnel already have significant privileges over other citizens of the country. However, the Department of Veterans Affairs highlights that the Pentagon is increasing the benefits package. All military personnel and veterans remain eligible for lifetime medical insurance paid in full from the federal budget. Moreover, this includes complex...
With regard to the elements and implications of workplace safety and health, the main issue in the U.S. Navy is COVID-19 spread. The coronavirus epidemic threatens the personnel losses of the U.S. Navy. According to Payne et al., recruits being infected by SARS-CoV-2, even in a mild form, cannot be...
The ethical aspect appears to be a vital link in forming a particular organization’s HRM system. Winston claims that HRM’s ethics is essential from the point of view of Christian doctrine. The first principle is the equality system; modern command often treats its subordinates as human resources. In this state...
For military missions in the Navy, soldiers are trained in physical fitness basics and prepared to withstand stress throughout their service as officers, especially when in a difficult situation. One of the basic requirements for physical fitness is the development of the need for daily exercise. For instance, one of...
Stock refers to the equity share of an organization owned by shareholders. Organizations offer these equities to shareholders through the issue of shares in order to raise capital. Stock owners are entitled to an ownership interest or equity. They are normally offered by legal corporations. Moreover, they are entitled to...
Management accounting refers to the process of identifying costs within an organization with regard to processes that influence inventions, operations, savings, and decision-making. Management accounting plays a pivotal role in influencing the ability of an organization to develop effective budgets, identify sources of its various costs, and facilitate the effective...
Monitoring and controlling marketing strategy depend on factors that include: Promotion, Bookkeeping, Order Handling, and Return on Investment. The four measures are detailed below in detail. Promotion This refers to the strategies that companies use to ensure that potential consumers receive information regarding new products in the market. Promotion is...
According to BBC news, the IMF required the Irish government to come up with “austerity measures” aiming at reducing the Ireland output by 11%, in which the country’s budget would be 3% down. The international monetary fund (IMF) also required that Ireland should reduce the benefits of the unemployed and...
Financing the deficit doesn’t have offsetting effects. Some economists believe that government financing of deficit spending offsets the deficit’s expansionary effect. They believe that government borrowing increases interest rates and crowds out private investment. Crowding out is the offsetting of a change in government expenditures by a change in private...
The pecking order theory is a capital structure theory that states that the choice of equity or debt by companies depends upon the existence of asymmetric information. The theory was first introduced by Donaldson in 1961, which was later amended in 1984 by Myers and Majluf. There are three sources...
The ability of the company to continue with operations despite the losses can be looked at from two perspectives. The first viewpoint is the performance. A review of the income statement shows that sales are growing at a tremendous rate, especially the sale of zero-emissions vehicle tax credits. The gross...
A convertible bond, which is also referred to as convertible securities, issued by a company permits holders of a debt instrument to receive its common shares upon conversion at a later date. A callable bond is a debt instrument that permits the issuing company to redeem it before the maturity...
Investors venture into any business with the objective of making optimum returns from their equities and other portfolios. In school, especially in the field of finance, I have learned the application of finance theories in the business world. The acquired knowledge has helped to shape my ideas today in terms...
Consistent with Kedharnath’s observations, my understanding of leadership is that it is important in every aspect of life, including politics, business, religion, and social networks. I understand a leader as a person who arranges and guides other people towards the attainment of common mutual objectives and goals. Leadership occurs through...
The present work will assess the use of outsourcing for tourism and hospitality businesses and evaluate cultural challenges that may arise in relation to it. The subject is of critical importance to the sector because businesses that operate in it are in constant need of services that may be provided...
Summary In an organizational setup, leaders and employees are always faced with complex situations that require them to make a choice. During the decision-making-process, the agent is forced to pick between competing outcomes in which either of them will lead to violation of the work ethics. In such a condition,...
Negotiation Experience From my perspective, during negotiation, each team from the “selling” and “buying” sides tried to achieve its own interest by all means possible. For instance, our team represented the government side, and it was sometimes clear that we could not find any compromises with teams representing the interests...
Accepting IFRS will offer comparability, improved audit effectiveness, minimized information misconstruction, and expenditure savings as increasing financial transactions become universal. The adoption of IFRS as well provides a remarkable chance in the accounting field. Shifting to a totally new reporting framework eventually may facilitate corporations to rationalize accounting practices and...
The extent to which the state government should influence the policies of corporations has been the subject of numerous debates for quite a while. While seemingly providing a short relief to the company leaders in their efforts to guide the organization in a particular direction, state corporate governance, in fact,...
This is a risk management practice that combines various asset classes in a portfolio; a portfolio with different types of asset classes will yield higher returns and lower risk when compared to an individual asset class. In such cases, diversification eliminates unsystematic risks. The negative performance of some asset classes...
The four conflict management styles are competing, avoiding, accommodating, and problem-solving. Competing, defined by high problem-solving needs and low relationship needs (also known as “my way or the highway”) is a type of conflict management that trends towards being very ineffective, though it has its place particularly when the conflict...
According to the law of demand, consumers tend to purchase more of a particular product if its price declines and buys less if the price increases. Using price elasticity of demand, it is possible to measure the consumers’ responsiveness toward price changes. The price elasticity of demand varies depending on...
The primary goal for taxation is ensuring that there is the transfer of resources from one group to another while considering existing economic goals. In addition, taxation shifts purchase power among economic classes in a region; it may shift purchasing power from the private sector to the public sector. In...
The tax mix obtained by Abijanville city does not show any form of tax equity. As compared to Comparator, it has a high taxation rate on personal income. It imposes a very low-income rate on corporate investors. However, the movie is favorable to corporate investments as the city fails to...
Corporate governance focuses on the rules and processes that govern business operations. These rules and processes also help in the control and regulation of business operations as recommended by stakeholders and managers in an enterprise or a corporation. External forces like consumer groups and government institutions also have a role...
The concept of bringing soul to the workplace is central to holistic employee satisfaction; it entails the acknowledgment that workers are persons with such integral faculties as the body, soul, and spirit. This spells the important aspect of not only creating a conducive environment in the workplace in which a...
Demographic data consist of components that make up the demographics of a particular population. Demographics are the qualities of a sample population. When these qualities are put together for any particular purpose, it becomes demographic data. A marketer uses recent demographic data of a region to predict his target market...
Currency exposure risk is the risk or the possibility of incurring financial losses in the future payments from economic transactions, as a result of deviations of exchange rates from the expected future rates of exchange. Multinational organizations are usually prone to such risks, given the fact that they cannot operate...
For those customers who use only social media, it is important to set such pricing goals as building brand awareness and engaging customers in communication. The primary objective is dynamic raising pricing, which would allow for attracting customers and community growth. It seems to be useful to focus on the...
In terms of human resources management and employment, upward mobility means that a person can climb the career ladder. A company that chooses a targeted recruitment strategy can also promote the development of its employees, which is also useful for effective employee retention. For example, it is possible to look...
Kevin O’Leary is a Canadian businessman who is mostly known as one of the major investors on Shark Tank. Apart from that, he is an entrepreneur, mutual fund manager, venture capitalist, and media person. Kevin O’Leary is also a person who funded an investment fund company and is involved in...
Introduction The modern business world is a highly competitive environment characterized by fierce rivalry and opposition between major actors. Trying to acquire the increased number of loyal clients, companies employ strategies that can help to generate a competitive advantage and preserve the high level of audience’s interest in their activity....
My leadership style is the Democratic leadership style. Democratic leadership is a leadership style where the manager shares responsibilities with the subordinates. The leadership style is one of the most effective styles in the world, especially in the 21st century where people are quite knowledgeable. The first characteristic of democratic...
The growth of UMS Company from a small pharmacy to a large multinational company is an indicator of the many advantages that are associated with a joint-stock of operating a business as compared to a sole proprietorship. The joint-stock mode of operating a business ensures faster growth rates on both...
Assessing citizens’ views on the role of their state in the world arena is a tool that allows characterizing specific beliefs from the perspective of social, economic, and other factors. Concerning American identity, one can agree that the United States is at the top of the world rankings, and various...
Stockholders’ equity is an account on a company’s balance sheet comprised of retained earnings and contributed capital. It is a number of assets that remained in the business after the settlement of all obligations. In other words, it means a net worth of a company. Explanation: The common shareholders’ equity...
It would be a blanket accusation if say that all alcohol manufacturing companies fail in their ethical duty to be informative and be faithful in advertising. However, it would be an overstatement to say that alcohol companies satisfy this requirement. Because of the price wars that are evident in the...
Jack Welch’s framework that is used for differentiating employees is also referred to as the vitality curve. Some of the other terms that are used to refer to the vitality curve include forced ranking, forced distribution, stack ranking, and rank and yank. The curve is subdivided into three separate sections....
An organization has its own core competencies that are different from another organization’s. It needs many different competencies in order to operate efficiently and effectively. Core competencies can be defined as the few competencies in an organization that ensure long-term success. They are those competencies that are rare, valuable, non-substitutable,...
Diversification is important since it helps investors to spread risks across diverse investment options. Explanation: It is easy to understand the importance of diversification by examining the basic definition of this strategy. Diversification is a strategy based on balancing between a large number of investments instead of concentrating all capital...
As the world recovers from the world crisis that hit it at the end of the year 2007, China is facing another duty of combating the corruption levels in the country. This is mostly in the public sector as well as the private sector. It is estimated that over 10%...
After establishing objectives and drawing up plans to achieve them, managers must design and develop an organization able to achieve its goals. Organizing refers to the deployment of organizational resources to achieve strategic goals. In simpler terms, it means turning plans into action with the help of leadership and motivation....
National culture can be defined as a set of shared values that distinguish individuals from a specific country from others. National culture differences between locations can have major challenges to practice transferring in operations management. Some practices are altered by culture, while others are more effective in some societies more...
One way in which perceived risk will help me decide whether I will purchase the new luxury motor vehicle is financial risk. All luxury cars are expensive, and if the price is above my limit, I will try to negotiate. If the negotiations are not successful, I will not purchase...
Absorption costing assigns a proportion of the fixed cost of production to the units produced. This share is added together with the direct cost of production for each individual product to obtain the total or the full cost of producing a unit of output. The fixed costs are assigned using...
The marketing and provision of medications and medical devices directly to consumers is a comparably new trend that is characterized by the increased number of advertisements on TV, in the press, on posters, as well as on the Internet. Potential consumers can also receive information about new drugs and devices...
In many organizations, the human resource departments are never satisfied with the information that the potential employee provides, and this forces them to go an extra mile in order to identify the real character of an individual. This implies that they might check the profile of an individual on Facebook...
The exploration of the causes of business cycles grew interested after an increase in the severity of economic depression caused concern in the late 19th and early 20th Centuries. Sunspots have been blamed to be the causes of recessions in that they affect the quantity and quality of the goods...
A market can be described as efficient when the prices of securities being traded in the market reflect all available information at a given time. The information reflected in the market must be relevant to the security in question meaning that all information that comes to the market will be...
One of the key indicators of a company’s financial health is the status of its balance sheet. This gives a summary of how cash is being utilized in the firm by illustrating how much the firm actually has, how much the company owes other parties and how much cash the...
Introduction A well-defined and cost-effective marketing strategy is most often determined by successfully connecting customer needs with the most likely feasible goals. While most companies are now engaged in extensive marketing, only a few of them have created or managed to create good conditions for customer loyalty and loyalty to...
Introduction This research paper presents a comparison and contrast of three companies’ mission, vision, and values statements, utilizing balanced scorecards as the tools of strategic planning. The select companies are Toyota Motor, Volkswagen, and General Motors. This research intends to investigate each company and establish its strategic direction based on...
Derivatives are contract agreements enforceable at a specified future date and whose value wholly depends on the value of the underlying asset. This means that a derivative cannot have an independent value from one of the underlying assets. The underlying asset may be bonds, stocks, cash, intellectual property, or receivables....
Derivative markets are believed to have been the cause of the last world financial crises. This is so because derivative markets come up with an inflated value of market capitalization which is very high compared to the same value when calculated by other means. Derivatives have also been criticized for...
Many taxpayers consider the current federal income tax system highly complicated and would hope to deal with a much simpler system to facilitate effectiveness in the administration of taxes. However, the complexity in the current system is understandable and justifiable because one of the objectives of an ideal system of...
Different stakeholders utilize government financial reports, and the three main categories of users include investors and creditors, oversight and legislative officials, and the citizenry. Moreover, government financial reports are used for various reasons, such as in the process of making social, political, and economic decisions. Considering the variations with regard...
Firms that engage in international business through exportation or importation are faced with the risk of exchange rate fluctuation. Therefore, the financial performance of such firms may be adversely affected if effective financial management mechanisms are not adopted. Hedging is one of the strategies that such firms can adopt. Hedging...
Corporations and partnerships are bodies formed with the purpose of performing certain businesses. However, they both have diverse structures that differentiate them. A partnership comes into existence when two or more individuals join in doing business with the aim of making profits. On the other hand, a corporation is a...
Absorption costing This costing system is also known as full costing, and it refers to a costing methodology whereby all the costs that are incurred in the production process are incorporated into the respective product costs. Therefore, “the direct labor cost, direct material costs, fixed and variable overhead costs incurred...
Inherent risk refers to the propensity of asserting a material misstatement. The misstatement can occur either individually or as an aggregate. Inherent risk varies depending on the classes of transactions, account balances, and disclosure. Therefore, the risk can be greater in some assertions compared to others. For example, “the degree...
The rapid increase in U.S. imports in 2010 was too high to compare with the macroeconomic indicators. In fact, the surge in imports came in handy to help the world overcome the 2010 recession. This is because recession would cause people to spend more due to the high inflation rates,...
Accounting methods refer to rules and principles that are adopted during the preparation of income reports, evaluation of expenses in books, and treatment of income tax returns. The accounting method adopted by a business has a great influence on the taxes payable as well as the ability of a firm...
Materiality is important to auditors when preparing financial statements. It is a vital consideration when persecuting professional misconduct. Materiality entails both specialized and official definitions to increase financial consideration by auditors. This can be grouped in three proportions. These proportions include principal markets collision, the level of ambiguity implicated, and...
The concept of arm’s length transaction states that the people who are involved in the transaction should bargain in order to benefit themselves as individuals but not members of the group. In addition, transactions not made at arm’s length involve an element of related party provisions or relationships such as...
The following are Specific rules when determining the deductibility of the business expenses and their necessities. A taxpayer should know the fundamental principles of tax deductions. Among the basic principles is that no one is allowed to deduct all the expenses one incurs from the income he or she earns...
The theories developed at different times. This means that they base on continued study of macroeconomics over time. Although none explains all the macroeconomics complications comprehensively, each of the theories addresses a portion of the delicate and complicated field. As an economist, the view of the macroeconomic environment is well...
The government-wide financial statements are the statements that focus on the whole government. In the preparation of these statements, there is no consolidation since there is always a need for intra- entity transactions that should be eliminated. In the preparation of the government-wide statements, the most commonly used basis is...
Accounting methods used by an entity determine how the transactions are recorded in the books of accounts of that company. Jan says the most common methods of accounting are the cash and accrual basis of accounting. One basis of the difference is the recording of cash in and out in...
Governmental fund financial statements demand the accrual basis of accounting as well as the focus on financial resources at the time. In addition, governmental funds such as general funds and special revenue funds are financed with aids, taxes, and other sources. In this case, there is no possibility of matching...
Succession planning helps a business grow positively, and it must be done at all companies, depending on the size of the company. Managers must be able to point out and develop the possible leaders in the group. These employees can be eventually promoted and given proper training. The company has...
In the face of extreme calamities witnessed in the recent past, risk managers are increasingly concerned with the stability of existing measurement instruments in the evaluation of extreme risk events. Many risk decision analysts no longer consider them as expected risks but as expected catastrophes/unacceptable risks. These commonly used methods...
Risk management within the mining industry calls for the participation of all stakeholders. Stakeholders, in this case, include employers, employees, government, and policymakers. While some measures require the collective engagement of the stakeholders, some are specific to individual stakeholders. First and most, there is a need for all stakeholders to...
Background checks must be done to avoid negligent hiring. It is the candidates’ right to know that every candidate receives background checks. This procedure is important to ensure that what the applicant promised in his/her resume is what the company should expect. If a company fails to do a proper...
Training can benefit the company if done correctly. Training enables employees to gain experience in their areas of duty. This procedure requires qualified HR personnel with proper budgeting knowledge. In most cases, the HR department finds itself short of money in conducting this important management function. The company can perform...
The capital asset pricing model has different messages to different people. To investors, the message is simply to invest in a large amount of stock to reduce the risk of losing your investment. An investor should invest in a well-diversified portfolio that is in some securities to make sure that...
