...between habit and addiction is already settled. The new CSI model describe the different roles of Challenge, Skill and Interest in this topic. I am still trying to find a way to add a fourth property to this model which may lead to the generation of a four-dimensional model. 1. The introduction of the new CSI model The new model is based on a fundamental model covered in the material from the lectures: CS model or Flow Chart. The old CS model pointed out a clear area when Challenge and Skill reached a balance spot which is known as “flow area”. Above the “flow” section where Challenge is high and the Skill of individual is low indicates the part that individual gets anxiety and below the “flow” section where Challenge is low and the Skill of individual is high shows the part that individual gets boredom. So here is when an idea came to my mind that there should be a third variable considering this model. Otherwise there should not be anyone who is really excited about doing the work he/she is familiar to, since the Challenge is low and Skill of individual is high. In my point of view, there are a few personalities should be considered. However, what matters more among those characteristics is Personal Interest. Therefore, I am adding the third axis to the original Flow Chart: Interest, which makes the model to become a three-dimensional model. Above is an example of the CSI Model after I put some theoretical data in the chart. The data should be acquired throughout...
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...decision-making in a business environment and the strategic principles behind it. Within this course my team members Kristijan, Yaniv, George and me (Team KUGY) had the opportunity to apply our academic and theoretical understanding and knowledge in an online business simulation game, wherein we created our own car business and competed on the European car market fictionally. This paper aims to elucidate the advance of our strategic decision-making, observes the reasoning behind it and examines the following implementation of our approach. Founded on the definition of strategy being “A plan of action designed to achieve a long-term or overall aim”, we questioned ourselves in the commencement of the game what our strategy would be (Andrews, 2010). Subsequently, after considering the theories studied in class we decided that we needed to express our own and coherent strategy in less than 40 words, fitting to the restrictions objective, advantage and scope (Tregoe, Zimmerman, Schuster, 2008). “Attaining maximised profitability by carefully trying to get to know our customers’ needs, consequently adapting our products to suit their expectations to an extent where we would stop serving and start appreciating, so as to charge a premium price” (Yaniv, George, Kristijan and Ugo). The theoretical model we chose to establish our strategy was Porter’s generic strategy, that led us to a differentiation-focused strategy. Given to Porter, a competitive strategy is about differentiation (Andrews, 2010)...
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...which firms can make production-investment decisions, and investors can choose among the securities that represent ownership of firms' activities under the assumption that security prices at any time "fully reflect" all available information. A market in which prices always "fully reflect" available information is called "efficient." This paper reviews the theoretical and empirical literature on the efficient markets model. After a discussion of the theory, empirical work concerned with the adjustment of security prices to three relevant information subsets is considered. First, weak form tests, in which the information set is just historical prices, are discussed. Then semi-strong form tests, in which the concern is whether prices efficiently adjust to other information that is obviously publicly available (e.g., announcements of annual earnings, stock splits, etc.) are considered. Finally, strong form tests concerned with whether given investors or groups have monopolistic access to any information relevant for price formation are reviewed.' We shall conclude that, with but a few exceptions, the efficient markets model stands up well. Though we proceed from theory to empirical work, to keep the proper historical perspective we should note to a large extent the empirical work in this area preceded the development of the theory. The theory is presented first here in order to more easily judge which of the empirical results are most relevant from...
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...Research Notes and Comments A Bibliographical Essay on Decision Making IT has been said that administration is the critical organizational process, making possible production, procurement, and the rest; that leadership is the heart of administration; and that decision making is the key to leadership. Inherent in these statements are some remarkably accurate characterizations of current administrative theory. One thing they seem to imply is a coherence and a unity in administrative theory which do not seem to exist. When one attempts to assay the literature dealing with a concrete administrative process such as decision making, he discovers this. Divergent approaches to the study of decision making show that there are conflicting conceptions of its nature and function. And these probably are symptoms of a more fundamental conflict in contemporary administrative theory. Administration and leadership as foci for study have traditionally been the concern of historians, occasional novelists, and students of management, public and private. A generation ago these people had articulated a consistent, rather comprehensive conception of leadership, and especially administration. The Papers of Gulick and Urwick, for example, were regarded by many of us as a major conceptual achievement setting forth a twentieth-century theory of organization. Even as these ideas were gaining acceptance, however, the concepts that would replace them were emerging. After World War I, even before the ...
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...GAME THEORY Game theory has found its applications in numerous fields such as Economics, Social Science, Political Science, and Evolutionary Biology. Game theory is now finding its applications in computer science. The nature of computing is changing because of success of Internet and the revolution in Information technology. The advancement in technologies have made it possible to commoditize the components such as network, computing, storage and software. In the new paradigm, there are multiple entities (hardware, software agents, protocols etc.) that work on behalf of different autonomous bodies (such as a user, a business etc.) and provide services to other similar entities. Internet has made is possible for many such geographically distributed antonymous entities to interact with each other and provide various services. These entities will work for their respective owners to achieve their individual goals (maximize their individual payoffs), as opposed to obtaining a system optima (that is socially desirable). This results in an entirely different paradigm of computing where the "work" is performed in a completely distributed/decentralized fashion by different entities where the primary objective of each entity is to maximize the objective of its owner. Therefore, it is important to study traditional computer science concepts such as algorithm design, protocols, and performance optimization under a game-theoretic model. This course aims to provide a basic understanding...
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...A Comparison of Inter-Organizational Business Models of Mobile App Stores: There is more than Open vs. Closed Roland M. Müller1, Bjorn Kijl2 and Josef K. J. Martens3 1 Berlin School of Economics and Law, Department of Information Systems, roland.mueller@hwr-berlin.deUniversity of Twente, School of Management and Governance, 2 b.kijl@utwente.nl, 3j.k.j.martens@alumnus.utwente.nl Abstract The purpose of this paper is to analyze the competition among mobile app stores for smart mobile media devices. Therefore, the business models of seven mobile app stores are analyzed with a special focus on Apple and Google. We use e3-value modelling - a formal business modelling technique - for analyzing the critical elements of these mobile ecosystems. The analysis of the app store ecosystems allows a differentiated view on the different strategies of the app store owners. Additionally, we look at the impact of network effects, economies of scale, platform differentiation, quality assurance, and transaction costs on the design of mobile application markets. This theoretical model allows a deeper discussion about the design choices and success factors in the different app store cases. Based on our analysis, we expect that the open versus closed models discussion becomes less relevant - so-called open platforms have closed aspects as well as the other way around - and that competitive differentiation and segmentation strategies will become increasingly critical in order to strengthen the...
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...hockey pools, American football . . . . . . . . . . . . . . . . . . . . . 1.2 Website . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1.3 Acknowledgements . . . . . . . . . . . . . . . . . . . . . . . . . Reference . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Modelling the development of world records in running Gerard H. Kuper and Elmer Sterken 2.1 Introduction . . . . . . . . . . . . . . . . . . . . . 2.2 Modelling world records . . . . . . . . . . . . . . 2.2.1 Cross-sectional approach . . . . . . . . . . 2.2.2 Fitting the individual curves . . . . . . . . 2.3 Selection of the functional form . . . . . . . . . . 2.3.1 Candidate functions . . . . . . . . . . . . . 2.3.2 Theoretical selection of curves . . . . . . . 2.3.3 Fitting the models . . . . . . . . . . . . . . 2.3.4 The Gompertz curve in more detail . . . . 2.4 Running data . . . . . . . . . . . . . . . . . . . . 2.5 Results of fitting the Gompertz curves . . . . . . . 2.6 Limit values of time and distance . . . . . . . . . 2.7 Summary and conclusions . . . . . . . . . . . . . References . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 1 2 2 3 4 4 5 5 5 7 2 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ....
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...Assessment task 2 Outcome covered 2 Assessment task instructions This assessment covers Outcome 2 of Business Culture and Strategy. It is based on the case study of Alphabet Games. Each of the following questions must be correctly answered. In some cases it is possible, to make use of diagrams or tables in your answer. You do not need to do this if you do not feel it is required. However, a diagram or table on its own is not likely to be enough to provide a full answer. If you do use a diagram or table, you will probably need to provide some accompanying explanation or discussion. a Explain the importance of organisational culture to Alphabet Games and suggest an example of where both shared values and taken for granted assumptions contribute to the continued success of Alphabet Games. Using a recognised theoretical model, identify and justify the organisational culture of Alphabet games and assess how this shapes current management approaches. To reflect the changing environments within which Alphabet games operates, suggest a possible alternative organisational culture for the company Games and assess the impact this change in culture would have upon managerial approaches. Using a recognised framework, assess the importance of the relationship of the relationship between organisational culture and organisational behaviour. b c d Scottish Qualifications Authority HN Assessment Exemplar/F7J7 35/AEX001 V1.0 Business Culture and Strategy 11 May 2011 Assessment...
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...MARKETS / MODELS / CRISIS … WHO IS THE WINNER? Walid BEHAR Founder of TBS Finance Entrepreneur, Investment Analyst, Accelero Capital a.walidbehar@gmail.com Since the Great Depression*, History has shown us how important it is to understand the rationale behind those 3 key elements that will rule the future of Financial markets. Understanding the synergy and link between them is like trying to know who has been engendered first, the egg or the chicken. Every story has its beginning, let us begin by the foundation. It seems to be that markets are driven by a simple rule « the rule of bid and ask ». After a bloody battle between classics and Keynesians, the little child has grown up to become what economists call «The Efficient Market». But as me you are wondering: is it so efficient? Not so much! A market is efficient if every relevant information is perfectly and at a time reflected on coted assets prices In fact, there are three versions of the efficient market hypothesis. In weak-form hypothesis futures prices cannot be forecasted by analyzing past trends from historical data. In other words, technical analysis will not be consistent and will not produce excess return. In semi-strong efficiency, share prices should adjust to the available new information very rapidly. Thus, it implies that neither fundamental nor technical analysis methods will be able to reliably produce interesting returns. Finally, the strong form of efficient market stipulates that...
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...to be part of the field of applied mathematics per se. Sometimes, the term "applicable mathematics" is used to distinguish between the traditional applied mathematics that developed alongside physics and the many areas of mathematics that are applicable to real-world problems today. There is no consensus as to what the various branches of applied mathematics are. Such categorizations are made difficult by the way mathematics and science change over time, and also by the way universities organize departments, courses, and degrees. Many mathematicians distinguish between "applied mathematics," which is concerned with mathematical methods, and the "applications of mathematics" within science and engineering. A biologist using a population model and applying known mathematics would not be doingapplied mathematics, but rather using it; however, mathematical biologists have posed problems that have stimulated the growth of pure mathematics. Mathematicians such as Poincaré and Arnold deny the existence of "applied mathematics" and claim that there are only "applications of mathematics." Similarly, non-mathematicians blend applied mathematics and applications of mathematics. The use and development of mathematics to solve industrial problems is also called "industrial mathematics".[2] The success of modern numerical mathematical methods and software has led to the emergence of computational mathematics, computational science, and computational engineering, which use high-performance...
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...toward new pradigim Towards A New Paradigm for Economics Asad Zaman Director General International Institute of Islamic Economics International Islamic University Islamabad, Pakistan Abstract. Current economic theory is mainly concerned with the factors which affect the wealth of nations. Issues of income distribution and elimination of poverty and deprivation is secondary. The present paper invites discussion on a new paradigm: hunger and homelessness to make the subject of economics really serve the humankind. 1. Focus of Conventional Economics is Wealth and not Poverty Current Economic theory is firmly set in the mold structured by Adam Smith 1904). His concern was to look into factors which affect the wealth (and hence power, prosperity) of nations considered as a whole. Issues of income distribution are secondary, since wealth belongs to the nation regardless of how it is distributed among individuals. Since then, economists have been primarily interested in wealth and power, and not so much in removing poverty, hunger and economic misery. Malthus (1798) provided a convenient sop for consciences, showing that poverty arose as a consequence of natural laws (all proven wrong empirically later) and the only cure was to reduce the birth rate of the poor. Tawney (1926) has looked at the process by which morality got divorced from economics in much greater detail; because of this, questions of fairness, equity, justice no longer form part of current economic discourse...
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...Theoretical Cultural model: There are many different models and theories of change as change defies simple attempts to categories and organize. The last few decades have seen a number of popular theories. It is helpful to have a model or a framework within which to operate, as this can help ensure that most aspects of the proposed change are considered. Which model best suit circumstances depend in part on institutional culture and personal preferences and will find that any of the models contain similar elements presented in slightly different ways. Alphabet Games follow power culture from Charles Handy model.The effect of power on leadership and culture is real and this effect can be long lasting. The term power conjures up images of...
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...supermarket firms choose to position themselves by offering either everyday low prices (EDLP) across several items or offering temporary price reductions (promotions) on a limited range of items. While this choice has been addressed from a theoretical perspective in both the marketing and economic literature, relatively little is known about how these decisions are made in practice, especially within a competitive environment. This paper exploits a unique store level data set consisting of every supermarket operating in the United States in 1998. For each of these stores, we observe the pricing strategy the firm has chosen to follow, as reported by the firm itself. Using a system of simultaneous discrete choice models, we estimate each store’s choice of pricing strategy as a static discrete game of incomplete information. In contrast to the predictions of the theoretical literature, we find strong evidence that firms cluster by strategy by choosing actions that agree with those of its rivals. We also find a significant impact of various demographic and store/chain characteristics, providing some qualified support for several specific predictions from marketing theory. Key words: EDLP; promotional pricing; positioning strategies; supermarkets; discrete games History: Received: March 22, 2006; accepted: February 27, 2008; processed by David Bell. 1. While firms compete along many dimensions, pricing strategy is...
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...Contents No. | Title | Page | 1 | Introduction | 2 | 2 | Part 1 | 6 | 3 | Part 2 | 8 | 4 | Part 3 | 10 | 5 | Part 4 | 13 | 6 | Part 5 | 17 | 7 | Further Exploration | 21 | 8 | Reflection | 22 | Introduction Moral Values: I have learned many moral values while completing this assignment. Better still, I got to know about the importance of applying these moral values into our daily lives. The first moral value is to cooperate with other people. The strategies and solutions of the questions in this project work were discussed among me and a group of friends. This makes things easier and saved a lot of time. The management of time is also important to complete this project work. Other than this assignment, I have homework, extra co curricular activities and tuition classes to attend. Thus a good management of time is essential for me to complete this given task and not to disrupt my daily activities. Perseverance has taught me to be steady and persistent in doing something. In spite of many difficulties I faced throughout the whole procedure I learned that giving up is just not right solution. Obstacles and discouragement should be endured the course of action should be held on with unyielding determination to see obtain sweet fruit of success. I had also learned to appreciate the beauty of mathematics. Waxing eloquently on the basic importance of Mathematics in human life, Roger Bacon (1214-1294), an English Franciscan friar, philosopher, scientist...
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... 1 Course Description The fundamental objective of this course is to introduce to managers the important economic concepts and tools to improve their decision-making and to achieve managerial goals. The course will emphasize the economic way of thinking, and will enable managers to better understand the economic environment in which business decisions are made. Developing innovative solutions to business problems will be encouraged throughout the course. Learning Objectives Ø Apply the tools and theories from microeconomics to perform demand and supply analyses. Ø Identify different market structures. Formulate different pricing strategies under different market structures or consumer characteristics. Ø Apply basic game theoretic models to formulate business strategies such as pricing. Ø Understand the main issues faced by companies and what are the possible solutions suggested by economic theory. For example, the principal-agent problem and how incentive contracts can be used to address the issue. Ø Understand the key behavioral biases that can affect decision-making in business setting. Brief Course Outline The following table lists the approximate schedule and topics of the classes....
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