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Introduction The paper aims at discussing the potential ethical dilemma between corporate profitability and social responsibility during managerial duty. The fundamental question is what behavior is more crucial to a company’s success and image: being socially responsible or gaining more profit despite the ethics code and corporate principles. Therefore, I...
In the modern world, the importance of security management grows together with the amount of information that businesses, institutions, and others operate. To protect it successfully, maximal integration of the components a security system comprises is necessary, which, in turn, calls for studying its structure to understand it better. The...
Absolute advantage is manifested in a country’s ability to produce goods using fewer resources than other countries. Сomparative advantage refers to a country’s ability to manufacture some products at a lower cost than others. Explanation: Absolute advantage and comparative advantage are elements of trade theory, which explains the mechanisms of...
The percent sales method of forecasting is approach of forecasting used by financial institutions and companies to predict their growth in sales. This method based of percentage of sales is primarily used to estimate and allocate the amount of resources needed in case the company grows in the coming year....
Resources are essential since they dictate the success of any project and the delivery of the targeted results in a timely manner. Stakeholders and managers will need to list and analyze such requirements. The first one is that of labor, and it will summarize “the roles, responsibilities, and skill-sets required...
Crowd control is a security measure that focuses on preventing mass disorders and allowing for a better organization of large groups of people. It is also designed to prevent chaotic and hazardous events such as riots, insurrections, and massive outbreaks of law violations. There is a significant number of crowd...
When a company decides to follow a social business approach, it should understand how to measure success. It is necessary to know this information to see whether the results are worth the effort. Now, there are a few measures that can be used for this purpose. However, it is reasonable...
Strict conditions that are provided by modern competition in almost every market indicate that a company is to develop and apply an efficient management orientation. It seems essential to define an appropriate business philosophy founding it on a reasonable marketing strategy. Nowadays, many firms have recognized the fact that pursuing...
All the three-taxation system recognize the need to have an effective taxation system, but their point of contention is on how to achieve this goal. The current system of taxation taxes individuals according to their level of income. It has a graduated taxation system that ensures that those earning higher...
Merchandise inventory is the total cost of goods on hand available for sale at any specific point in time. Keeping close track of merchandise inventory is essential for running an effective business operation since it allows the management to calculate the costs of goods sold in a given period for...
Generally, the credit card issuer indicates the monthly payment due date on which the cardholder is supposed to make the payment. The payment should include both the principal and interest on the debt, and the payment should be made in full. In the event of non-payment or late payment, the...
Risk management is a significant part of the functioning of any organization. This process focuses on identifying, assessing, and controlling threats that may arise both for the institution itself and its staff and clients. The sources of threats can be external and internal, for example, concerning insurance, crisis situations, applied...
Introduction The main advantages of the Internet are its accessibility and, unbounded opportunities, development with technology. On this basis, the fact is that e-commerce will develop permanently. The important question is how the future of e-commerce will develop in the next five years. It is necessary to identify three major...
Strategic management involves the choices a firm makes in terms of what the organization will do and will not do to achieve specific objectives in realizing its mission and vision. The strategic management process is a continuous, systematic process that contains several steps: developing a strategic vision and mission, analysis...
From an ethical point of view, accounting is a common area of improper business conduct. When business people have some financial issues, they can turn to an accountant who can help forge some documents. For accountants, this is a problem since they were hired and received money for their work,...
Global changes and developments have increased the focus on entrepreneurship. This is due to its significance in the creation of jobs, strategic realignments, privatization of public enterprises, economic development, and solving problems at the national and global levels, all of which require creativity. There is much research that suggests that...
New communications such as video conferencing, audio conferencing, phones and Skype have the potential to increase flexibility in virtual teams. This is because employees can easily give their employers feedback on certain tasks at any time- day or night through phones or Skype. They may also choose to work either...
Organizations have a lot to lose when communication becomes ineffective. First, members of the organization will not be aware of what is required of them or the company’s expectations. In this regard, they may not understand work policies, objectives of the company and the general working order within that organization....
Service recovery is crucial for service business excellence. In his speech on quality service, Ron Kaufman presents a prominent example of a bank making a mistake in a monthly credit card statement. The charges from the last month are copied to the next month. The customer is furious. He thinks...
This statement is partially right in its assumption that a business can satisfy society by satisfying its representatives in the form of the company’s clients. The more clients the company serves with goods of the highest quality, the more positive changes it makes to society as a whole as the...
As a member of the HR management department who designs a strategy for hiring workers, I would focus on employees who are best suited to the company’s needs. If I imagine that the hypothetical company analyzed in this essay belongs to the sphere of Internet advertising and promotion, I would...
Enterprise resource planning and lean can work together to improve operations management and enhance the competitive advantage of a firm. Lean operations emphasize the need to reeducate wastage as much as possible. One of the ways of reducing waste is to eliminate WIP. Davim explains that work in progress tends...
The chosen methodology of purchasing a courier information system directly from the vendor can have problems during the initial stages. It requires changes in infrastructure, equipment and training. All of this needs capital investment. A preliminary analysis of the requirements shows that about two computers in every office would be...
Under the current scenario in 24/7 Couriers, very little information technology is applied. In fact, Microsoft Word is the only software program used to create the lists of packages to be delivered for each of the nine depots. The best way to get an information solution in place would be...
In accounting, a statement of cash flows shows the history of the company’s ingoing and outgoing money operations during a definite time period. This statement shows how changes in accounts and a company’s balance affect cash equivalents, which is essential to determine a company’s creditability. There are two different ways...
Though knowledge management as such required both organizations to tap the knowledge and vast amount of information, the definition was quite different for both of them. For Frito Lays, the data and information was gathered mainly from the sales team and the performance indications of the company and the salespeople....
For any project to be completed successfully and with the least bottlenecks, a project manager is required. The project manager is the person given the responsibility of ensuring that the set number of activities are successfully completed to the required standards, within the projected time, and within the allocated budget....
Understanding the relationships among world currencies is very important to triumphant operations in a global economy. There is money to be made by managers who can efficiently manage currency exchange rates in the route of their business dealings. There is money to be lost by managers who fail to identify...
It is true that economic success is brought about by capitalism. Schumpeter explains that capitalism is not in motion rather it is fixed. This theory does not have the accumulation of capital rather the money is in a continuous circular flow. Capitalists have the least profit and they normally receive...
The airline industry has been facing challenges with increased competition, the need to adopt new technologies, fluctuations in oil prices, new expansion strategies and entrance to other countries. The changes have required innovation and research to take measures that help the airlines offer quality service at reasonable prices hence receiving...
The business environment today is faced with increased opportunities that have elements of potential for rewards, high levels of risk and the necessity of innovations. Corporate entrepreneurship involves encouraging entrepreneurship in the organization, especially for employees. The need to adapt to changing times though necessary is faced with multiple obstacles...
A company may acquire another company in either the same country or from another foreign country. As much as there can be a difference in ethics and culture in another country the same exists within a given country. These ethical and cultural issues if not combated, may negatively affect the...
The time value of money assumes that the value of money today is greater than the value of money tomorrow. This theory is explained by the presence of inflation rates on market. In the case of salaries, the amount of salary paid is calculated based on the change of time...
There exist a number of yield curve theories: expectation theory, horizon premium theory, inflation premium theory, and market segmentation theory. Market segmentation theory assumes that investors limit their investments to certain segments of the market or segments of the yield curve. It assumes that it is costly for the investor...
Economists disagree about how big the role of the government should be in a capitalist market economy. Some classical economists, such as Adam Smith, devised a set of concepts that remain strongly associated with capitalism. His theory of the “invisible hand” of the market, through which he states that the...
According to the ‘Marketing Research Association,’ market research is the ability to provide important information to companies that in turn supply products and services. Market research thus assists these associations by enabling them to recognize and fulfill customer needs and requirements consequently facilitating the associations to develop the value and...
Explaining the aforementioned, we might go to the opposite, where it can be said that the falling price of the US currency might be caused by increased spending and decreased saving. In that regard, this situation means that the government is borrowing money, and thus the supply increases while the...
A key error that statisticians and researchers make is to form causal relationships with data or attempting to form relations between data and trying to set a cause for it. Data can frequently be discreet and independent even though they are from the same sample lot. As seen in ‘Chi-Square...
Flexible work arrangements can trigger a risk of potential burnout. For instance, employees who work under this arrangement have to deal with compressed work hours, which might result in complete burnout due to long working times for successive days without rest. In reality, burnout is associated with slowed productivity since...
Cost-volume-profit analysis is the deliberate evaluation of the connection among offering costs, deals, manufacturing volume, costs, and benefits. By definition, a cost-volume-profit technique is a tool that provides managers with valuable data for leadership. Economic analysts use the analysis to make fundamental and sensible decisions regarding cost-volume and profit issues....
Businesses indeed have a role in putting a value on human life. It is from businesses that people make a living, we buy our commodities, where we exercise a trade, the economy of the country is generated, find the information we require, among others. A human being is not able...
Ethical climate characterizes the ethical and moral atmosphere that exists within the organization. There are five major types of ethical climate: caring, independent, law and order, rules, and instrumental. Massey Energy Corporation is characterized by a mixture of the last two types. Its environment cannot be called caring since the...
The competitive elements in business have indeed overtaken most business houses such that price increases of products and services may remain difficult to realize in the short term without compromising on turnover of business or retention of customers, especially when other competing firms are pro-offering better service at lower costs....
Costs are major determinants of pricing since margins need to be maintained. Suppose the firm wishes to reduce selling prices and makeup in a higher quantum, thus achieving economies of large-scale production. This is needed for cash inflow purposes and also to keep inventories moving so that there are no...
Many companies turn to international trade in order to take advantages of various benefits this trade. The companies try to increase turn over by expanding their market, take advantage availability economic conditions of certain countries and diversify their market. Despite of the various benefits trading internationally has various risks. The...
Two main approaches are used to measure country risk: qualitative and quantitative. The qualitative approach relies on the opinions of experts, namely politicians, members of unions, economists, etc., and the country’s existing data gathered by performing a variety of government researches. Financial analysts, in turn, collect data from newspapers, local...
Visa chose to participate in the 1980s Olympics because the event was a global competition that brought people together from various countries around the world. In that regard, it would offer an invaluable platform for the company to promote its brand. The Olympics brand equities aligned with Visa’s vision at...
Unemployment is a situation where persons aged 16 years and above, who are ready, willing and able to undertake jobs and are actively searching for jobs are not working at any specified time. It is inversely proportional to the economic growth. However, it is undesirable as it increases loss of...
Outsourcing- transfer of ownership of a process from a buyer to a third party/ supplier is taking the world by storm. It is believed that much of the momentum was in the mid 1990 and most companies relied on outsourcing specifically as a planning tool due to its lower cost,...
Responses to Susan’s Leadership Dilemmas Among the possible responses to Susan’s dilemma, the B option representing a coaching leadership style seems the most appropriate. This approach implies that a leader acts as a coach in sports, transforming employees’ physical and psychological resources into specific outcomes (Karlsen and Berg, 2020, p....
Overcoming emerging challenges can be a strenuous task for any organization. As a company grows and improves its outputs, it is bound to encounter numerous obstacles, ranging from leadership issues to insufficient development resources. To promote advancement and ensure that the established goals are achieved, it becomes necessary to create...
The quick economic expansion of Asia and the development of African states in recent decades is one of the most significant events in history. This expansion continues today and there is every cause to expect that it will continue ad infinitum unless disrupted by probable but unlikely global divergences. At...
The charismatic leader rules by imparting energy and excitement to their team members. This form of leader has to be entrusted to the arrangement for the long run. If the achievement of the separation or project is featured to the leader and not the group, charismatic leaders may turn out...
The financial statement of the company can be considered an important document that can be used to demonstrate the current state of the company, its results, and the effectiveness of the strategy that is employed at the moment. For this reason, its analysis can help to acquire an improved understanding...
Perceived risk, media influence, social characteristics, and demographic characteristics will affect the choice of a brand-new luxury motor vehicle in numerous ways. First, perceived risk will help determine how much money can be used for the purchase. Cars, unlike real estate, lose value as they age. Therefore, a critical look...
Personal factors that could influence the buying behavior of a consumer include his or her age, profession, income, lifestyle, and individuality. It could be noticed on a daily basis that in the supermarkets, the package of snacks and food for children is brighter and more colorful than the wrappings of...
China and the U.S. are each other’s chief trade partners, so it is not surprising that the trade war between them has been very damaging to both. In prosecuting this war, the Trump administration hoped to address concerns about job loss, unfair and illegal practices such as intellectual property theft,...
The coronavirus pandemic is going to have a lasting negative effect on the U.S. economy. As the article “Economic Effects of Coronavirus Outbreak (COVID-19) on the World Economy” by Nuno Fernandes shows, the economists of leading American banks agree that Q2 2020 will see a sharp contraction in the economy....
In his works, Mintzberg indicates that “strategies grow initially like weeds in a garden, they are not cultivated like tomatoes in a house.” From this quote, the reader realises that the process of identifying or formulating new action plans might overwhelm managers or become complicated. The knowledge here is that...
To sustain within the diverse challenge of both external and internal environment organisations are required to make a significant change. Strategic Change in spite of substantial resources dedicated to carrying on the change effort backed by top management. Talented and committed professionals and leaders drive strategic change. Managerial feelings are...
The information presented will discuss some form of strategic planning models available in organizations today. To set off the discussion, it is relevant to understand what strategic planning is and its importance within an organization. To begin with, an illustration of a scene may help clarify the process; consider a...
The promotional campaigns of different products also presuppose the use of various materials to create ads, promotional materials, and other elements needed to attract customers’ attention to specific products. Thus, the combination of some benefits associated with the use of a particular good and eco-friendly incentives might be especially important...
First of all, the risks of owning a new luxury motor vehicle can be considered. It means the existence of such concerns as reliability, cost, and benefits associated with its owning. For instance, an expensive car might demand significant spending on its maintenance, and this factor should be considered when...
I could think of Amazon.com as a successfully run e-commerce business with the traditional brick-and-mortar store in place. Amazon.com has become one of the most successful internet-enabled book stores due to its innovative marketing and excellent customer servicing. Established just in the year 1995, today it could boast of nearly...
During the past, in the U.K, the revenues from slavery and the slave trade filtered back into the Great Britain economy in indirect ways, the insurance companies, bankers, and financial institutions all participating as active traders for investment. The British manufacturing industry, according to historians, received the extra spur of...
In the 21st century, there is no doubt that the world is interconnected thanks to the new era of globalization. Many countries trade goods and services for their own benefit. Vast capital flows can transfer anywhere around the world. A connection exists between globalization, free trade, and trade liberalization. Global...
The incentives for future oil exploration As prices go up, life becomes very expensive, thus slowing down development. Being a natural resource, many countries will tend to explore this resource in their country. The development of alternative energy sources The rising oil price prompts governments across the world, from EU...
Effect of oil prices on demand for kilometers traveled The rising of oil prices prompts governments across the world, from EU countries to the United States, to increase or decrease interest rates so as to control their economies. Because of a continuous rise in the prices of petroleum products, the...
The relation between sports and business is growing year by year. So also are the number of companies that provide market information and research about sports and business. Three such companies are discussed here. They are the American Sports Data Incorporated, Performance Research, and Sportbusiness.com. American Sports Data Incorporated: Their...
The process of urbanization has been expanding over the past decades, capturing increasingly large areas and affecting the population of the U.S. significantly. There are several stances on the nature and effects of urban growth, each representing a unique stance on how the process starts and by what it is...
The pace of life has significantly increased with the introduction of modern technologies. The functionality of smartphones grew immensely, which influenced almost every sphere of trade, including traditional brick-and-mortar retail. Since the majority of customers use their mobile phones frequently, many shops try to suit their needs in the format...
The main reason for booming inflation in Russia in early 90s as the case-study suggests was the transition to market economy which required deregulation of economy and transformation of planning economy into viable and effective economic governance. As abovementioned case-study further suggests ‘the central element of this plan was an...
As the case-study of Russian Rubble Crisis suggests ‘with inflation rising, the ruble tumbled in the value against the dollar and other major currencies’. In January 1992 the exchange rate rest at $1+R125 and in the following years it had being declining until default in 1998. In 1996 Russian government...
It is clear that the introduction of this tax will cause an increase in prices on the corresponding products, which, in its turn, will have an impact on supply and demand. Companies selling these items will try to minimize the increase at the expense of some other costs (for instance,...
One of the examples is a continuous transformational change in BBVA, a famous American bank holding company. The essence of this change was to incorporate agile methodology techniques and improve their daily business activities. Sector-specific drivers (a financial sector) led to the necessity to consider change as an option for...
Nowadays, people want to achieve the best results in all their activities, starting from education when first responsibilities occur, continuing with developing their business and ending with retirement details. Despite the belief that people are free to control their actions and decisions, it is sometimes impossible to understand that all...
Inflation is the continued growth of prices in an economy over an extended period. It can be seen as a sign of economic growth, as with increases in purchasing power and demand, the inadequacies in supply can lead to increased costs. Burton, Deciba, and Brown also note that the alternative...
Michael Sandel makes the argument that line scalping for underpriced, publicly available goods is inherently corrupting in most instances. The cause is not entirely that the addition of a price to events that are not intended to have one excludes some people unfairly. Setting a money barrier for attendance will...
Linguistically, a trademark genericization can diminish a company’s performance and its brand. Therefore, it is critical to note that branding strategy includes the fact that a trademark must possess a certain amount of aspiration and benchmark identity. The advertising character of a trademark is formed as a result of the...
The topic of the bullwhip effect can be applied in the UAE context, especially in the Tissues Manufacturing Company. The organization may use the data presented in the study to analyze how it can increase demand variability in all parts of the supply chain. For instance, the company may use...
Introduction Modern companies face numerous challenges because of the growing diversity of clients’ demands and the fierce rivalry peculiar to different spheres. Under these conditions, the improvement of various aspects of firms’ work is viewed as the key to generating a competitive advantage and creating the basis for future rise....
The paper “How Do CFOs Make Capital Budgeting and Capital Structure Decisions?” by Graham and Harvey 2002 explored the current activities of corporate finances with specific emphasis on capital budgeting and capital structure areas. The investigators used surveys to conduct their study to recognize corporate finance aspects consistent with the...
In case Steinway Piano is not implementing the activity-based costing in their organization, it will result in persisting with the value-less activities in their production process. The actual cost of each of the processes cannot be identified and assessed separately, and thus total cost control cannot be implemented in the...
I think that Steinway Piano is a good candidate for Activity Based Costing. The unique manufacturing process adopted by Steinway involves complex and diversified processes for ensuring maximum standardization for the finished products. As it involves varied steps for processing, the actual cost incurred for each step of the process...
The buyer behaviour topic which can be used to communicate the benefits to a potential end-use of the product would be with the help of reference groups. As we know, a reference group is based on groups that have an effect on an individual’s attitude or behaviour directly or indirectly....
The buyer behaviour topic that can be used to achieve consumer awareness of the impending changeover to digital TV can be done with the help of learning theory. Learning basically means when an individual’s behaviour changes when they learn from their past experience. It is a known fact that human...
Due to the complex operating environment of International Human Resources Management (IHRM) in transnational companies like Jones Corporation, HRM strategies will vary from company to company. Further, the triumph of global business relies on the quality of management in MNC. Further, the success of any transnational strategy has less impact...
WTO differs from GATT as it is based on different principles and policies of trade relations. GATT is just a set of rules while WTO is an international institution with governing bodies. In contrast to GATT, WTO commitments are full. GATT rules and principles of trade cover only retail trade...
The personality of a typical 40-50-year-old Canadian advisor is of a person brimming with confidence and self-esteem, who has no difficulty in adapting himself to a new and strange environment away from his native country. He possesses tremendous self-confidence that he would do well in his overseas assignment since he...
The marketing manager of mobile tech (a mobile phone “add-ons” company) needs to know that the people of generation ‘Z’ are not very good listeners and they lack the very essence of interpersonal skills. But all forms of technology, whether it is the internet or mobile technology, are like second...
A person has needs at any given time. These needs can be biological (thirst or hunger) and psychological (recognition, esteem or belonging). As we know, a need becomes a motive when it is aroused at a level of intensity, and the drive is a need, which is very important in...
The buyer behaviour topic which is relevant to helping marketing managers to encourage demand for the product is the learning theory. And as we know that all complex behaviour is learned. Learning occurs all the time, and it occurs due to an individual’s past experiences. We can see the changes...
The PC industry was born in the mid-1970s and since then has expanded rapidly. Since its beginnings, the PC market has witnessed several booms. An essential feature of this industry was innovation and new product development. Hardware components were changing fast, and technology was improving rapidly. One company had no...
An important area of globalization is economic globalization. This includes the integration of country economies in the world. The globalists see this to be the perfect way of reducing poverty. They argue that developing countries need to open up to the world and attract investments for their economies to grow...
PESTLE analysis has been used by DPWN to analyze its external business environment. It involves the considering of political, economic, social, technological and legal factors before investing in the target market. Political Factors These are factors that relate to the political system and political instability of countries where DPWN markets...
Laudon argues e-business is the use of the internet and digital technology to execute all the business processes in the enterprise includes e-commerce, as well as processes for the internal management of the firm and for coordination with suppliers and other business partners. On the other hand, e-commerce refers to...
A business start-up is usually faced with a host of teething problems. These challenges vary depending on the type of business one intends to open. Some of these challenges include: Start-up Capital Any business will require capital for it to start operations. New businesses are faced with the problem of...
Total quality management and Six Sigma are aimed to introduce improvements and changes in production and service processes. In both cases, quality processes seek a compensation system that promotes flexibility in task assignment; concerns for quality, delivery reliability, cost control, and general customer satisfaction; acceptance of new technology; acceptance of...
Lean production is defined as: “a Japanese approach to management that focuses on cutting out waste, whilst ensuring quality. This approach can be applied to all aspects of a business – from design, through production to distribution” (Lean production n.d.). It is hard to imagine Lean production without the comprehensive...
There are two kinds of employees in an organization: executive and non-executive. Executive members are those members who occupy top level positions in an organization and are involved in major decision-making procedures, planning, strategy, policy making and other managerial processes. A non-executive employee does not hold any managerial position and...
With the current proliferation of business entities in the world, competition in the market has become very stiff. Companies are looking for every possible way to win a bigger market share in order to increase revenue or improve their financial performance. They have chosen new technology as the way out....
An increase in prices means that the quantity demanded is higher at every price, whereas a decrease in prices is tantamount to the fact that the quantity demanded is lower at every price. Such are the relations between price and demand. From the chart below it, the demand and supply...
