...Sulphuric and carbonated. Answer: D 5) The "vertical zone" of influence could be described like what of following? A) The damage caused mainly by ground level concentration or an air pollutant or by concentrations in the upper atmosphere. B) The damage caused mainly by ground level concentration. C) The damage caused mainly by air pollutant in the lower atmosphere. D) The damage caused mainly by water. Answer: A 6) What would be the correct definition of "global pollutant" from below? Pollutant B) Pollutant C) Pollutant D) Pollutant Answer: A A) concentrated concentrated concentrated concentrated mainly mainly mainly mainly in upper atmosphere. in lower atmosphere. in the ground. in the water. 7) Which of the costs from below should be marginal...
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...iosrjournals.org Contribution of Insurance Sector to Growth and Development of the Indian Economy 1 1 2 Dr. M.Subba Rao, 2R. Srinivasulu M.Com, M.Phil, Ph.D Principal Sri Balaji P.G College (MBA) Anantapur – 515002 Andhra Pradesh - India M.Com, M.B.A Research Scholar Department of Commerce S.K University – Anantapur Andhra Pradesh India Abstract: For economic development, investment are necessary, investments are made out of savings. Insurance Company is a major instrument for the mobilization of savings of people particularly from the middle and lower income groups. These savings are channelized into investment for economic growth. Insurance serves a number of valuable economic functions that are largely distinct from other types of financial intermediaries. According to the official estimates, Indian economy is expected to grow at 7.6% (+/- 0.25%) in the fiscal year 2012–2013. However, leading financial organizations and economic think-tanks expect Indian economy to grow slower than official projections. The economy of India is the tenth-largest in the world by nominal GDP and the third largest by purchasing power parity (PPP). The country is one of the G-20 major economies and a member of BRICS. On a per capita income basis, India ranked 140th by nominal GDP and 129th by GDP (PPP) in 2011, according to the IMF. Fortunately, in the past few years, several interesting lines of research have begun to map the specific contributions of insurance to the economic growth process...
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...Environmental Science 5. Tropical forests represent a large reservoir of underutilized timber. Why is it ecologically unsound to harvest most tropical forests? What are the potential long-term effects of deforestation in the tropics? Harvesting our Earth’s tropical forests is very ecologically unsound in many ways. These forests are being harvested and clear-cut in staggering rates and even if we begin taking necessary actions as a whole, worldwide, immediately we still may never get these forests back to where they should be in order to become sustainable once again. The most commonly known effect that harvesting the rainforests has had is the extinction of the majority of the world’s species. The tropical forests contain about half to two-thirds of the world’s species. (Chiras, P. 230) An average of 137 species of life forms are driven into extinction every day in the world's tropical rainforests. Destruction such as harvesting in rainforests have contributed to the loss of millions of acres of tropical rainforest. Animals and people alike lose their homes when trees are cut down therefore, most animals and other species die when trees are cut down. Larger mammals need several acres to be able to roam free and are trapped into smaller living conditions and several other species are only known to be living in one region and will not survive once their habitat has been harvested. Other animals that may not be native to these tropical areas also suffer when forests...
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...Developing Pricing Strategies and Programs Price is the one element of the marketing mix that produces revenue; the other elements produce costs. Prices are perhaps the easiest element of the marketing program to adjust; product features, channels, and even communications take more time. Price also communicates to the market the company’s intended value positioning of its product or brand. A well-designed and marketed product can command a price premium and reap big profits. But new economic realities have caused many consumers to pinch pennies, and many companies have had to carefully review their pricing strategies as a result. For its entire century-and-a-half history, Tiffany’s name has connoted diamonds and luxury. Tiffany designed a pitcher for Abraham Lincoln’s inaugural, made swords for the Civil War, introduced sterling silver to the United States, and designed the “E Pluribus Unum” insignia that adorns $1 bills as well as the Super Bowl and NASCAR trophies. A cultural icon—its Tiffany Blue color is even trademarked—Tiffany has survived the economy’s numerous ups and downs through the years. With the emergence in the late 1990s of the notion of “affordable luxuries,” Tiffany seized the moment by creating a line of cheaper silver jewelry. Its “Return to Tiffany” silver bracelet became a must-have item for teens of a certain set. Earnings skyrocketed for the next five years, but the affordable jewelry brought both an image and a pricing crisis for the company: What...
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...382 PART 5 SHAPING THE MARKET OFFERINGS ter p ha C 14 In This Chapter, We Will Address the Following Questions 1. How do consumers process and evaluate prices? 2. How should a company set prices initially for products or services? 3. How should a company adapt prices to meet varying circumstances and opportunities? 4. When should a company initiate a price change? 5. How should a company respond to a competitor’s price change? As a high-end luxury goods provider, Tiffany & Co. knows the importance of preserving the integrity of its prices. Developing Pricing Strategies and Programs Price is the one element of the marketing mix that produces revenue; the other elements produce costs. Prices are perhaps the easiest element of the marketing program to adjust; product features, channels, and even communications take more time. Price also communicates to the market the company’s intended value positioning of its product or brand. A well-designed and marketed product can command a price premium and reap big profits. But new economic realities have caused many consumers to pinch pennies, and many companies have had to carefully review their pricing strategies as a result. For its entire century-and-a-half history, Tiffany’s name has connoted diamonds and luxury. Tiffany designed a pitcher for Abraham Lincoln’s inaugural, made swords for the Civil War, introduced sterling silver to the United States, and designed the “E Pluribus Unum” insignia that adorns $1 bills...
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... To order more copies go to www.hbr.org. The Four Things a Service Business Must Get Right The Idea in Brief The Idea in Practice All successful firms must design a compelling offering and manage the workforce to deliver it at an attractive price. But service firms must do even more: deal with the frustrating fact that their customers can wreak havoc on service quality and costs. To consistently deliver service excellence, ensure that each of these four elements reinforces the others: For example, a customer dithering at a fastfood counter slows things down for everyone else waiting in line. An architect’s client struggling to clarify how a new facility will be used drags out the design process. To tackle this challenge, Frei advises aligning four key elements of your business: • What your service offering consists of • How you fund the excellence you want to provide • How you manage employees to deliver quality service COPYRIGHT © 2008 HARVARD BUSINESS SCHOOL PUBLISHING CORPORATION. ALL RIGHTS RESERVED. • What you do to help customers enhance— not erode—service Get these elements pulling together, and none of them can pull your...
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...The Impact of Fast Food on Local Community Christian Values and the Global Community Spring 2006 Pete Suter Table of Contents Forward …………………………………………………………. 3 1. Fast Food and Obesity ………………....…..……………….… 4 2. Fast Food in America: Low Wages ……………………….… 11 3. From Waist to Waste …………………….…………………. 20 4. The Benefits of the Fast Food Industry on the Individual ….. 28 5. Building the Relationship Between Fast Food and Community ........... 37 Works Cited ……………………………………………………. 40 Forward We -as Pete Suter’s Spring 2006 Christian Values in the Global Community class- worked on a community task force project to bring awareness of the implications of having fast food restaurants in a community. Different groups of people worked on researching different aspects of fast food in the community. Information was collected about fast food restaurants’ contribution to communities through the lenses of obesity, wages, waste, benefits, and community relations. While there may be negatives surrounding the fast food industry, fast food restaurants/chains do benefit the community in some ways. 1. Fast Food and Obesity America is the fattest country in the entire world and is getting fatter. Obesity is the second biggest killer next to deaths caused by smoking. In 1991, 1 in every 8 adults was obese; in 1999, 1 in every 5 adults was obese, which shows how America is becoming more obese all of the time...
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...CR TOPIC-WISE EXERCISES (700-800 LEVEL) 1 The 700-800 Club Critical Reasoning Critical Reasoning Topic 1: CONCLUSION 1. • • • • • 2. In the United States, about $5,200 per person per year is spent on health care, while in Britain the amount is about half that. A recent study indicated that middle-aged white Americans have a significantly higher rate of diabetes and heart disease than do middle-aged white Britons. Even after eliminating from the study the lifestyle differences of diet, exercise, smoking, and drinking, the data showed that the Americans have poorer health than their British counterparts. The statements above, if true, best support which of the following assertions? Health care spending in the United States should be reduced by 50%. More expensive health care causes a higher incidence of certain diseases. The money spent on health care in the United States is not being used effectively. The average health care spending for middle-aged white Americans is probably less than the average health care spending for Americans in general. Something other than diet, exercise, smoking, and drinking must account for the difference in health for the two groups in the study. Spokesperson: In the 2006 election of the city mayor, 55% of the voters were female. All the voters were between ages 18 and 70 and 2/3 of them supported the incumbent mayor. The incumbent mayor won the election with a substantially greater number of votes than any other...
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...Five Star Value Carrier: Business Transformation Plan (BTP 2) Disclaimer This Business Transformation Plan (BTP 2) document is issued to staff and external stakeholders with the following disclaimer in line with Bursa Malaysia guidelines: 1. These headline Key Performance Indicators (KPIs) in the BTP 2 are targets/aspirations set by Malaysia Airlines to reflect transparent performance management practices. To all intents and purposes, financial figures referred to as ‘forecasts’ and ‘estimates’ in the BTP 2 are KPIs. 2. These KPIs should not be construed as forecasts, projections, estimates or representations of the company’s future performance, occurrence or matter as the KPls are merely a set of targets/aspirations of future performance and aligned to the company’s strategy. It is our view that because the airline industry faces a tough business environment which MAS is not spared from, it is only appropriate that we disclose information to the public, in a manner that is as balanced and objective as possible. It should be pointed out that in this BTP 2 document, while MAS is announcing its 5-year (2008 - 2012) P&L aspirations, this does not necessarily mean that MAS will make the said profits during the period. The BTP 2 and its targets have been approved by the MAS Board of Directors, but are not to be considered as forecasts reviewed by external auditors. CONTENTS A Joint Message from the Chairman, CEO and CFO 1-2 Executive Summary 3-4 A: Achievements...
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...which sell the products to consumers. An average price for that month is worked out and then converted. The month’s statistics can then be compared to last month’s average price to calculate the percentage rise in prices over the period. Inflation can impact on businesses in the UK, because if inflation is high, businesses won’t be aware of what the prices will be in a couple of months’ time, let alone a couple of years. However, decisions have to be made which will affect the business in the long-term as it is creating uncertainty. Also if prices rise, consumers will be less willing to borrow money because of not knowing what will happen in the future. Value of savings will fall as inflation erodes consumer’s real value so they will have to save more to make up savings for their previous real value. Increased savings means less spending, so businesses will save less. Suppliers will also rise in their prices of goods/services so this would mean that the businesses will be charged more. If...
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...Transactions and Strategies Economics for Management This page intentionally left blank Transactions and Strategies Economics for Management ROBERT J. MICHAELS Mihaylo College of Business and Economics California State University, Fullerton Australia • Brazil • Japan • Korea • Mexico • Singapore • Spain • United Kingdom • United States Transactions and Strategies: Economics for Management Robert J. Michaels Vice President of Editorial, Business: Jack W. Calhoun Publisher: Joe Sabatino Sr. Acquisitions Editor: Steve Scoble Supervising Developmental Editor: Jennifer Thomas Editorial Assistant: Lena Mortis Sr. Marketing Manager: John Carey Marketing Coordinator: Suellen Ruttkay Marketing Specialist: Betty Jung Content Project Manager: Cliff Kallemeyn Media Editor: Deepak Kumar Sr. Art Director: Michelle Kunkler Frontlist Buyer, Manufacturing: Sandee Milewski Internal Designer: Juli Cook/ Plan-It-Publishing, Inc. Cover Designer: Rose Alcorn Cover Image: © Justin Guariglia/Corbis © 2011 South-Western, Cengage Learning ALL RIGHTS RESERVED. No part of this work covered by the copyright hereon may be reproduced or used in any form or by any means— graphic, electronic, or mechanical, including photocopying, recording, taping, Web distribution, information storage and retrieval systems, or in any other manner—except as may be permitted by the license terms herein. For product information and technology assistance, contact us at Cengage Learning Customer & Sales Support...
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...license. Printed in the United States of America 1 2 3 4 5 09 08 07 06 ISBN-13: 978-0-324-35981-7 ISBN-10: 0-324-35981-0 ALL RIGHTS RESERVED. No part of this work covered by the copyright hereon may be reproduced or used in any form or by any means—graphic, electronic, or mechanical, including photocopying, recording, taping, Web distribution or information storage and retrieval systems, or in any other manner—without the written permission of the publisher. For permission to use material from this text or product, submit a request online at http://www.thomsonrights.com. Library of Congress Control Number: 2007921344 For more information about our products, contact us at: Thomson Learning Academic Resource Center 1-800-423-0563 Thomson Higher Education 5191 Natorp Boulevard Mason, OH 45040 USA For Lisa, Halley, Jake, and Chris BRIEF CONTENTS PREFACE: TEACHING STUDENTS TO SOLVE PROBLEMS SECTION I ix PROBLEM SOLVING AND DECISION...
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...McKinsey Global Institute May 2013 Disruptive technologies: Advances that will transform life, business, and the global economy The McKinsey Global Institute The McKinsey Global Institute (MGI), the business and economics research arm of McKinsey & Company, was established in 1990 to develop a deeper understanding of the evolving global economy. Our goal is to provide leaders in the commercial, public, and social sectors with the facts and insights on which to base management and policy decisions. MGI research combines the disciplines of economics and management, employing the analytical tools of economics with the insights of business leaders. Our “micro-to-macro” methodology examines microeconomic industry trends to better understand the broad macroeconomic forces affecting business strategy and public policy. MGI’s in-depth reports have covered more than 20 countries and 30 industries. Current research focuses on four themes: productivity and growth, the evolution of global financial markets, the economic impact of technology and innovation, and urbanization. Recent reports have assessed job creation, resource productivity, cities of the future, and the impact of the Internet. MGI is led by McKinsey & Company directors Richard Dobbs and James Manyika. Yougang Chen, Michael Chui, Susan Lund, and Jaana Remes serve as MGI principals. Project teams are led by a group of senior fellows and include consultants from McKinsey’s offices around the world. These teams draw...
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...3 Industry Analysis: The Fundamentals When a management with a reputation for brilliance tackles a business with a reputation for poor fundamental economics, it is the reputation of the business that remains intact. —Warren Buffett, Chairman, Berkshire Hathaway The reinsurance business has the defect of being too attractive-looking to new entrants for its own good and will therefore always tend to be the opposite of, say, the old business of gathering and rendering dead horses that always tended to contain few and prosperous participants. —Charles T. Munger, Chairman, Wesco Financial Corp. OUTLINE n n n n n INTRODUCTION AND OBJECTIVES FROM ENVIRONMENTAL ANALYSIS TO INDUSTRY ANALYSIS THE DETERMINANTS OF INDUSTRY PROFIT: DEMAND AND COMPETITION ANALYZING INDUSTRY ATTRACTIVENESS Porter’s Five Forces of Competition Framework Competition from Substitutes Threat of Entry Rivalry Between Established Competitors Bargaining Power of Buyers Bargaining Power of Suppliers APPLYING INDUSTRY ANALYSIS Describing Industry Structure Forecasting Industry Profitability Strategies to Alter Industry Structure 66 INTRODUCTION AND OBJECTIVES 67 n n n n DEFINING INDUSTRIES: WHERE TO DRAW THE BOUNDARIES Industries and Markets Defining Markets: Substitution in Demand and Supply FROM INDUSTRY ATTRACTIVENESS TO COMPETITIVE ADVANTAGE: IDENTIFYING KEY SUCCESS FACTORS SUMMARY NOTES INTRODUCTION AND OBJECTIVES In this chapter and the next we explore the external environment of...
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...3 Industry Analysis: The Fundamentals When a management with a reputation for brilliance tackles a business with a reputation for poor fundamental economics, it is the reputation of the business that remains intact. —Warren Buffett, Chairman, Berkshire Hathaway The reinsurance business has the defect of being too attractive-looking to new entrants for its own good and will therefore always tend to be the opposite of, say, the old business of gathering and rendering dead horses that always tended to contain few and prosperous participants. —Charles T. Munger, Chairman, Wesco Financial Corp. OUTLINE n n n n n INTRODUCTION AND OBJECTIVES FROM ENVIRONMENTAL ANALYSIS TO INDUSTRY ANALYSIS THE DETERMINANTS OF INDUSTRY PROFIT: DEMAND AND COMPETITION ANALYZING INDUSTRY ATTRACTIVENESS Porter’s Five Forces of Competition Framework Competition from Substitutes Threat of Entry Rivalry Between Established Competitors Bargaining Power of Buyers Bargaining Power of Suppliers APPLYING INDUSTRY ANALYSIS Describing Industry Structure Forecasting Industry Profitability Strategies to Alter Industry Structure 66 INTRODUCTION AND OBJECTIVES 67 n n n n DEFINING INDUSTRIES: WHERE TO DRAW THE BOUNDARIES Industries and Markets Defining Markets: Substitution in Demand and Supply FROM INDUSTRY ATTRACTIVENESS TO COMPETITIVE ADVANTAGE: IDENTIFYING KEY SUCCESS FACTORS SUMMARY NOTES INTRODUCTION AND OBJECTIVES In this chapter and the next we explore the external environment of...
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