...Behaviour of a Retail Company/Business and their Economic Efficiency for Society Poppy Stevens Stream 1B Student ID: 187645 Introductory Business Studies Companies and Businesses worldwide all have one goal, and that is to make a profit, and to do that they need to have a good hold in the world’s economy, to have a good reputation and have consumers eating out of their hands. A good example of this would be Apple Inc. Apple is one of the worlds most well known companies, and has a market value of more than half a trillion dollars (Krosinsky, 2012). Apple is known for it’s Computer hardware, Computer software, but mainly Apple is known for their production of iPods, iPads, iPhones, MacBook’s, and of course iTunes. This essay will cover the following: The kind of market structure Apple has, how much consumers demand their products and the economic efficiency of the company. When it comes to building a market you need to know your consumers wants, needs, fears and concerns so you can build up and around it to provide them with exactly what they want. Apple has their consumers wrapped around their finger, due to the fact that they use the strategy of market segmentation. Market segmentation is when the market has been cut up into groups/segments where consumers have similar wants and needs for a certain product. This would be a better definition, “Market segmentation is the technique used to enable a business to better target it products at the right...
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...Ninety percent of all postpartum hemorrhages are caused by uterine atony-that is, failure of the uterine muscles to contract normally after the baby and placenta are delivered. The blood vessels supplying the placenta during pregnancy are severed when the placenta separates from the wall of the uterus. The bleeding that results from these severed vessels normally stops when the uterus contracts, compressing the vessels. However, if the uterus doesn't contract enough, the bleeding can continue. Significant blood loss can result from a floppy, uncontracted uterus. Factors that may prevent the muscles of the uterus from contracting include the following: * prolonged labor; * the use of oxytocin (Pitocin) during labor; * general anesthesia; * twin or multiple births; * increased amounts of amniotic fluid (polyhydramnios); * delivery of a large baby; * history of more than five pregnancies; * abnormal labor (dystocia); and * infection (chorioamnionitis). In addition, fragments of placenta remaining in the uterus after delivery or benign growths within the walls of the uterus (known as fibroids) can also prevent the uterus from contracting normally. Active Management Many practitioners actively manage the third stage of labor, gently pulling the umbilical cord and administering oxytocin to help the uterus contract and promote delivery of the placenta. The uterus can also be massaged to help it contract firmly. Many studies show this technique...
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...Firm and Household Decisions CHAPTER 11 General Equilibrium and the Efficiency of Perfect Competition Prepared by: Fernando Quijano and Yvonn Quijano General Equilibrium and the Efficiency © 2004 Prentice Hall Business Publishing Principles of Economics, 7/e Karl Case, Ray Fair © 2004 Prentice Hall Business Publishing C H A P T E R 11: Perfect Competition • Input and output markets cannot be considered separately or as if they operated independently. Principles of Economics, 7/e Karl Case, Ray Fair 2 of 33 General Equilibrium and the Efficiency • Partial equilibrium analysisis the process of examining the equilibrium conditions in individual markets and for households and firms separately. • General equilibrium is the condition that exists when all markets in an economy are in simultaneous equilibrium. General Equilibrium and the Efficiency General Equilibrium and the Efficiency of Perfect Competition General Equilibrium and the Efficiency of Perfect Competition • In judging the performance of an economic system, two criteria used are efficiency and equity (fairness). • Efficiency is the condition in which the economy is producing what people want at the least possible cost. of C H A P T E R 11: Perfect Competition © 2004 Prentice Hall Business Publishing Principles of Economics, 7/e Karl Case, Ray Fair 3 of 33 © 2004 Prentice Hall Business Publishing C H A P T E R 11: Perfect Competition of Principles...
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...Business Ethics and Efficiency RWT1 Table of Contents Executive Summary 3 Subject and Purpose 3 Introduction 5 Discussion 5 Ethics and Economic Efficiency 6 Organization Goodwill and Competitive Advantage 7 Risk Management and Credit Facility 9 Recommendation 9 Conclusion 10 References 12 Executive Summary Due to increased globalization and competition in industry, organizations are facing tough challenges in the keeping their business operations sustainable and ethical so that they continue to grow and develop in a successful manner. When we talk about driving the organization towards success it is not any different from steering a car or vehicle in the right direction towards the required destination. That is why roadmaps and directions are developed and changed constantly so that the organizations and management are able to keep their business current and follow the latest trends and requirements as demanded by the external environmental factors that are constantly changing. It is extremely important that on its way to growth and improvement, the organizational management must look out for any new developments like technological advancement, globalization, new regulations, and laws or policies with regards to their business industry in order to maintain the performance and reputation of the business. On their way towards growth many leaders and management often ignore and forget the importance of business ethics and corporate...
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...achieving goals effectively and efficiently. Efficiency and effectiveness were originally industrial engineering concepts that came of age in the early twentieth century. Efficiency refers to doing things in a right manner. Effectiveness, on the other hand, refers to doing the right things. Management has been defined as a process of getting things done with the aim of achieving goals effectively and efficiently. Literature Review “Efficiency is doing things right; effectiveness is doing the right things.” (Peter F. Drucker, 2006) “It is knowing exactly what you want to men to do and seeing that they do it in the best and cheapest way.” (F.W.Taylor) “A principle of work allocation and specialization in order to concentrate activities to enable specialization of skills and understandings, more work focus and efficiency to do the right job.” (Henri Fayol) The terms effectiveness and efficiency have a lot to do with a business entity. Every business stands to attain its goals and objectives while particularly stressing on its ability of maintaining its survival and profitability throughout. In doing so, the effectiveness and efficiency counts immensely. On the one hand, on the basis of these two terms a business goes to heighten its level immensely, on the other hand it bears losses in the absence of the results being associated with effectiveness and efficiency. It is, thus, essential for a business to maintain effectiveness and efficiency continuously. Effectiveness means producing...
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...Mission: As a business manager for GE Canada, Raj Bhatt needs to figure out how to maximize the potential from the Canadian energy-efficiency opportunities. Energy-Efficiency, attractive industry and business opportunity? Yes, the energy-efficiency is a very attractive industry and business opportunity. As the growing interests from Canadian public and government, the size of the potential market has increased substantially to billions of dollars. Further, the technology and industry expertise have developed to more sophisticate stage as the market has grown to maturity with fewer competitors left. Therefore, the risk and prediction of overall business have decreased significantly. In addition, GE has the advantages of being an all-inclusive powerhouse for this project, since GE does not only have technical advantages in lighting and motors but also has its own financing department which could support the project’s financial needs. More importantly, GE is a well-known global brand with respected reputation in the industry. Lastly, GE does not face the similar level of competition in the energy-efficiency industry, as there are only 7 full-services ESCos that can cover all three businesses needs. Even those ESCos are often facing problems like accessing the capital, or creditability issues etc. GE management system, GE Canada, implications for the energy management business? The organizational structure of GE is a “direct connect” structure, which consists 6 core businesses...
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...This draft, February 2008 Abstract The aim of this study is to analyze the sustainability of Islamic micro-financing for developing micro-enterprises (ME). We use the sample of Baitul Mal Wat Tamwil (BMT), as Islamic microfinance institution in Indonesia. Two approaches will be used to explore the sustainability, i.e., technical efficiency (using data envelopment analysis (DEA) and level of outreach. The results indicate that: first, generally the efficiency of BMTs is relatively low. Scale efficiency also indicates that BMTs are operated still far from optimal scale. The results suggest that there is gap in efficiency scores obtained from CCR and BCC models. This indicates that BMTs still face the managerial problems. Second, Islamic micro-financing is useful for developing micro-enterprises and contribute a great social benefits to the society in several ways. Although the profitability efficiency of BMTs is relatively low, since generally BMTs have made a profit and social benefit, Islamic financing can be predicted to be sustainable – able to provide viable Islamic financing. Keywords: Sustainability, technical efficiency of profitability efficiency, level of outreach. 1 Lecturer of Islamic economics, Sultan Agung Islamic University, Semarang and Ph.D student Univeriti Putra Malaysia 2 Professor of banking and financial economics, Islamic economics and finance research group, Universiti Kebangsaan Malaysia. The first version of this paper was presented at the International...
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...DETERMINANTS OF AMANAH RAYA BERHAD EFFICIENCY PERFORMANCE NURFASHA AZLIN BINTI MOHAMAD 2009404328 BACHELOR OF BUSINESS ADMINISTRATION (HONS) ISLAMIC BANKING FACULTY BUSINESS MANAGEMENT UNIVERSITI TEKNOLOGI MARA SHAH ALAM SEPTEMBER 2011 LETTER OF SUBMISSION 18 JANUARY 2011 Prof. Madya Dr Ismail bin Ahmad The Programme Coordinator Bachelor of Business Administration (Hons) Islamic Banking Faculty of Business Management Universiti Teknologi MARA 40450 Shah Alam Selangor. Dear Sir, SUBMISSION OF PROJECT PAPER Attached is the project paper titled “Determinants of Amanah Raya Berhad Efficiency Performance” to fulfill the requirement as needed by the Faculty of Business Management, Universiti Teknologi MARA. Thank you. Yours sincerely, ………………….. NURFASHA AZLIN BINTI MOHAMAD 2009404328 Bachelor of Business Administration (Hons) Islamic Banking BACHELOR OF BUSINESS MANAGEMENT (HONS) ISLAMIC BANKING FACULTY BUSINESS MANAGEMENT UNIVERSITI TEKNOLOGI MARA SHAH ALAM “DECLARATION OF ORIGINAL WORK” I, Nurfasha Azlin bt Mohamad ( I/C No : 881120-56-5392) hereby declare that : * This work has not previously been accepted in substance for any degree, locally or overseas, and is not being concurrently submitted for this degree or any other degree. * This project paper is the result of my independent work and investigation, except where otherwise stated. * All verbatim extracts have been distinguished by quotation marks and sources...
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...TOPIC: THE IMPROVEMENT OF EFFICENCY AND EFFECTIVENESS AMONG UUM STAFF’S BY USING MANAGEMENT INFORMATION SYSTEM (MIS) * DV- Efficiency and effectiveness among staff of management in UUM * IV- Management Information System (MIS) Abstract An efficiency of management in university is depends on its staff who worked at different sector and different department. It is because the staff play an important role to the development of an university. The purpose by doing this research is to study the effect of management information system in efficiency and effectiveness of management among UUM staff. In this study, we focused on College of Business staff in UUM. We distributed a questionnaire to 140 sample of staff from total number of population which is 220 that inquired about their satisfaction in doing their worked by using management information system and how the system effect the quality of efficiency and effectiveness among them based on nominal, interval and ordinal scale. According to our result, the uses of management information system effect their efficiency and effectiveness as most of the work they do are based on the system. CHAPTER 1 : INTRODUCTION 1.1 INTRODUCTION OF THE STUDY The information system are consider such as arena which is concerning to provide the information for using it in the organization, and the information and its system have took today dimension well, because its became dealing with it now as a resource from the organization resources...
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...is “Ways of improving efficiency of enterprise”. It is considered to be topical nowadays because of some reasons. Firstly, today’s period of economic development is characterized by high competition in the market which makes all businesses seek foe different ways of increasing their efficiency. Enterprises are forced to look for the steps which help them work effectively without wasting time, money or energy. The pace of business activity is getting faster and faster. Employees often have to work under pressure dealing with performing lots of task at the same time and under different circumstances. It result in the fact that employers have to provide their employees with the possibility to work in the hotel rooms, airport, lounges, remote branches etc. Secondly, at the present moment mankind is facing with the problem of exhaustion of mineral and natural resources which makes numerous plants, factories and enterprises be more economical in the use of the resources. They need to organize their production in the way which lets them produce a specific outcome effectively produce a specific outcome effectively with a minimum amount of waste, expense and unnecessary effort. A lot of scientists and businessman have raised the problem of efficiency in their articles and books. In particular, outstanding Italian sociologist, economist and philosopher F. Parreto made a great contribution into the study of the problem of efficiency. According to Paretto efficiency is a state of economic...
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...The current issue and full text archive of this journal is available at www.emeraldinsight.com/1750-5933.htm An efficiency comparison of direct and indirect channels in Taiwan insurance marketing Chiang Ku Fan and Shu Wen Cheng Graduate Institute of Finance and Insurance, Shih Chien University, Taipei, Taiwan, Republic of China Abstract Purpose – The purpose of this paper is to compare the efficiency of bancassurance, an indirect marketing channel formed through the creation of subsidiaries, with an insurer’s own team, a direct marketing channel, in the Taiwan insurance sector. Design/methodology/approach – This paper uses the Charnes, Cooper, and Rhodes (CCR) model to measure the decision-making units’ (DMU) operating efficiency. Findings – The three major findings are: the efficiency score of a direct marketing channel is significantly higher than that of a comparable indirect marketing channel. The efficiency relationship between the indirect marketing channel and the direct marketing channel is independent. A marketing efficiency evaluation, when divided into different marketing channels for evaluation, provides meaningful results for marketing decision-makers. Originality/value – By comparing the efficiency between two different insurance marketing channels, managers in life insurance companies can make a more informed choice. Keywords Direct marketing, Marketing, Insurance, Taiwan Paper type Research paper Comparison of direct and indirect channels 343 Introduction Bancassurance...
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...Difference Between Efficiency and Effectiveness Efficiency refers to doing things in a right manner. Scientifically, it is defined as the output to input ratio and focuses on getting the maximum output with minimum resources. Effectiveness, on the other hand, refers to doing the right things. It constantly measures if the actual output meets the desired output. “Effectiveness” is also getting the right things done. This is where the efficiency is different than effectiveness. With efficiency, is to get the task done faster, easier, or better way. But with effectiveness, there always an initial question as to “what to do”? We need this measure for marketing activities and business processes since it helps us see when we are minimising resources or time needed to complete a process, i.e. we are keeping our costs low. In digital marketing, for example, efficiency involves increasing conversion rates and reducing costs of acquisition. It is still used in many large organisations and can still be used to today to help translate vision and strategy into objectives and then, through measurement, assessing whether the strategy and its implementation are successful. I’m a firm believer in shopping around for the best deal and I commend organizations that do so. My goal is to bust this myth open and expose the fact that focusing solely on efficiency is no longer sufficient to remain competitive in today’s business world. Corporate executives need to ask if their event portfolio has...
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...Business Research Report Ethics and Business Operations Table of Contents Executive Summary 3 Introduction 4 Research Findings 4 Business Ethics Increase Efficiency 5 Ethics boost the company Reputation 7 Effects of Ethics on inner company relationships 7 Recommendations 8 Conclusion 10 References 12 Executive Summary The primary goal of this paper is to provide a comprehensive review on the effects of business ethics and efficiency in the workplace. It will also draw parallels between ethics, efficiency and reputation of the company, as well as ethics, efficiency and the relationships of the business between the company executives and lower level employees. In such a competitive business market, companies place a large amount of pressure to employees to produce. Even as business students, we are wired to succeed, pass, win. We develop the mind frame of “by any means necessary” and that’s where the trouble begins. Once in that mind frame employees, management and even executives are tempted to break the rules, play dirty etc, all in order to not only reach the goals, but the fastest or the best. Companies have focused so much on the result, that the path there has been over looked. We called this “efficiency” if it was done fastest or cheapest. Meeting goals, and being profitable is a clear goal for mostly all businesses, but the question is how we go about doing this. We have all heard the saying “ time is money” and in trying to beat the clock, beat...
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...Ethical Standards Increase Efficiency Presented to: The CEO of Company X Student Name: Student ID: Date: December 27, 2011 Table of Contents Executive Summary 3 Introduction 4 Research Findings 5 Finding Number 1 5 Finding Number 2 6 Finding Number 3 7 Recommendations 8 Conclusion 9 References 10 Executive Summary Strong business ethics and social responsibility go a long way for businesses. My CEO had tasked me with researching how ethics and social responsibility affect our employees, reputation, and relationships. Promoting good ethical standards at first glance seems like the right thing to do, however through studying the research provided; they are also the smart thing to do. The information gathered for this report gives clear and definitive answers to the three main questions posed by the CEO of our company. The addition to business ethics can increase efficiency in our company’s employees. This would require the incorporation of a code of ethics in the company’s mission statement as well as having the human resources department designing and training employees on ethics. Having strong ethics within a company promotes trust from within, and a happy employee is a more productive employee. It is by no accident that almost 80% of corporations in the United States today have incorporated some sort of ethics program into their company. Generally, the reputation of a company with good social responsibility is higher than the opposite...
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...Specifying Information Systems for Business Process Integration – A Management Perspective1 Joerg Becker, Alexander Dreiling, Roland Holten, Michael Ribbert University of Muenster Dept. of Information Systems Leonardo-Campus 3 48149 Muenster, Germany {isjobe|isaldr|isroho|ismiri}@wi.uni-muenster.de Abstract Supply chain management and customer relationship management are concepts for optimizing the provision of goods to customers. Information sharing and information estimation are key tools used to implement these two concepts. The reduction of delivery times and stock levels can be seen as the main managerial objectives of an integrative supply chain and customer relationship management. To achieve this objective, business processes need to be integrated along the entire supply chain including the end consumer. Information systems form the backbone of any business process integration. The relevant information system architectures are generally well-understood, but the conceptual specification of information systems for business process integration from a management perspective, remains an open methodological problem. To address this problem, we will show how customer relationship management and supply chain management information can be integrated at the conceptual level in order to provide supply chain managers with relevant information. We will further outline how the conceptual management perspective of business process integration can be supported by...
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