...factors can impact the ability of a business or investment to achieve its strategic goals and objectives. These external factors might include supply and demand,labor market, political social and unemployment rate. Example of external factors are: 2.1.1 Supply And Demand The availability of manpower both within and outside the company is an important determinant in the recruitment process. If the company has a demand for more professionals and there is limited supply in the market for the professionals demanded by the company, then the company will have to depend upon internal sources by providing them special training and development programs. Supply and demand is perhaps one of the most fundamental concepts of economics and it is the backbone of a market economy. Demand refers to how much quantity of a product or service is desired by buyers. Supply represents how much the market can offer. The quantity supplied refers to the amount of a certain good producers are willing to supply when receiving a certain price. 2.1.2 Labor Market A labor market is the place where workers and employees interact with each other. A labor market is the place where workers and employees interact with each other. In the labor market, employers compete to hire the best, and the workers compete for the best satisfying job. A labor market in an economy functions with demand and supply of labor. In this market, labor demand is the firm's demand for labor and supply is the worker's...
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...THE AUTO INDUSTRY The automobile industry played a critical role in the current USA recession. In recent years, the auto industry has made a rapid growth, propelled by the governmental bailout and technological innovation stemming from international competition. Businesses The acquisitions in the auto production were part of a series of consolidation in the global automobile industry (BEA). The American car industry introduced many new vehicles that have attracted consumers as they pay attention to fuel efficiencies, and environmental soundness. There is a stronger than ever need for cars in the automobile industry as new and efficient models are being manufactured. This has driven a fierce competition between auto-makers with price a major factor. The industry sold over 15 million in 2013 which was 1 million higher than that of 2012. The forecast for 2014 is even higher as a result of many factors, one of them a renewed economy as well a constant high demand. The average age of vehicles on the road is 11 years and consumers want and need to upgrade to higher mileage, safer, higher-tech vehicles with the latest electronic gadgets and personal comforts. An example is General Motors who is abreast of the competition with many redesigned vehicles expected for 2014. Small cars, as well, will stay competitive as it serves as a point of entry into this business by younger people purchasing their first vehicle with maybe student loans and concerns about the cost of gasoline...
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...=========================================================== CONTENT 70% Address the following topics: (1) New companies entering the market, mergers, and globalization, on pricing and the sustainability of profits: Identify the type of merger activity in your industry or one with which you are familiarhorizontal, vertical, or conglomerateand explain why you made that choice.: Content Grade / Comments: Good, meets expectations. Good amount of detail about auto industry globalization and competition. (2) Current and expected government policies and regulations, including taxes and regulations in place to address issues related to externalities Content Grade / Comments: Mostly good. You could have gone into more detail about the incentives created and the (unintended) consequences of regulations and how this impacts decisions made by the firm. (3) Global competition on the decisions made by management with regards to change in labor demand, supply, relations, unions, and rules and regulations in your chosen industry Content Grade / Comments: Good, but this section seems more hypothetical and less applied. You should have given more details related to banking, but overall good points. (4) Recommend how the industry you chose may respond to each of the previous points. Content Grade / Comments: Meets expectations. (5) Paper is 1400-1750 words. Content Grade / Comments: Meets expectations. CONTENT POINTS: 66/70 =========================================================== READABILITY AND STYLE 15% REQUIRED: --Paragraph...
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...December 2007 to June 2009 has many factors of which the main root problem is the bursting of a huge trillion dollars housing bubbles and loss of confidence by investors and the public in the strength of key financial institutions and markets. One example of this is the housing crisis morphed into a financial crisis since banks held mortgage backed securities and other assets. Irrespective of such seasonal situations, the market should be free for competition and regulate itself only based on the fair and free competition, which sets the best price for the goods and services a buyer pays for depending only on the market supply and demand. Free market system is the best and realistic, which can give the efficient and optimal resource allocation and utilization for both buyers and sellers. The main outcomes of such free market system are: 1. Allocate the supply of goods to the buyers who value them most highly, as measured by their willingness to pay; 2. Allocate the demand for goods and services the sellers who can produce them at least cost; 3. Produce the quantity of goods that maximizes the sum of consumers...
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...and tracking, benefits administration and compliance with associated government regulation. What is Human Resource Planning? According to Brighthub.com, “Human Resource Planning” is a systematic analysis of HR needs to ensure the availability of the correct number of employees with the necessary skills at the right time. The increased competitive nature of business that makes workforce flexibility an imperative need has raised the importance of human resource planning. Effective Human Resource planning entitles five main steps. These steps include: 1. Demand Forecasting 2. Supply Forecasting 3. Audit 4. Reconciliation Or Affecting A Demand-Supply Fit 5. Control. Demand Forecasting This is a process of determining future needs for Human Resource in terms of quantity and quality. It is done to meet the future personnel requirements of the organization to achieve the desired level of output. Demand Forecasting requires a good understanding of the internal and external environment of the enterprise. Short-term and long-term organizational plans and strategies are the major aspects of the internal environment that affect HR Planning, while on the other hand, the general status of the economy, developments in technology, level of competition, labor market trends and regulations, demographic trends are the major aspects of an enterprise’s external environment that impacts HR planning. There are two main methods of forecasting. These include: Delphi...
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...material sources, supply chains, and production facilities are increasingly being built and moved overseas, businesses are beginning to uncover new issues which complicate their processes and operations. Gray areas are developing relating to humanitarian and labor issues, environmental concerns, and governmental regulations that challenge even the most socially responsible and forward thinking companies. At the same time, citizens and shareholders alike are challenging global firms to address the Triple Bottom Line approach, an approach that equally emphasizes the importance of people, the planet, and profits in measuring the success of any given firm. Companies are still expected to succeed financially, while simultaneously taking care of the environment, their employees, and the communities in which they operate. In order to gain insight into this situation, one may consider The Travels Of A T-Shirt In The Global Economy by Pietra Rivoli. In this case study of a truly global product, Rivoli explores the path that a simple cotton t-shirt follows from raw material, to finished product, and finally on to its own secondary market. She explores the people behind each step in the process, the environmental concerns, the governmental aids, and the restrictions present in the global marketplace. Through all of this, questions related to ethical decisions are raised at every stop along the way. How are the laborers treated and compensated? What is the environmental impact of the manufacturing...
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...I will take the later that my industry or field does experience turnover but it consist of employees that are committed to the company and looking for long term employment. The first things I would have to consider are my direct (cash) and indirect (benefits) compensation package. My direct compensation package would consist of salary, hourly wages and bonus. Factors that would affect my direct compensation package are supply and demand, labor unions and the company’s ability to pay and its productivity and government regulations according to (Montana & Charnov, 2000, p 222). Supply and Demand dictates the availability of qualified people within the area to do the job. If the economy is doing well then their will be great competition in attracting qualified candidates to do the job, this means management would have to pay a higher dollar amount to qualified candidates. If the market is slow then there will be a surplus of qualified and candidates and the pay will fall off. Management will have to pay attention to supply and demands factors in the labor arena before determining wages or salaries (Montana & Charnov, 2000, p 222). Management should also be prepared to establish pay levels within positions; this will give employees an opportunity for advancement within the company and help with retention. Managers should also ensure...
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...Started over one hundred years ago in Germany and France the automotive industry has become a major source of industrial and economic stability worldwide. In this report we will describe how the auto industry is affected by new companies entering the market, mergers, and globalization, on pricing and the sustainability of profits. We will explore mergers and merger activity within the industry as well as current and expected government policies and regulations in place to address issues related to externalities. We will also take a look at the effects of global competition on the decisions made by management with regards to change in labor demand, supply, relations, unions, and rules and regulations in the auto industry. Considering the aforementioned topic on the auto industry’s competitive strategies and Government policies you will say that this report aims to explain how these two areas have impacted the auto industry and will affect it going forward. Globalization Increasing globalization in the automotive industry is changing the way of traditional partnerships. Ten years ago, it was questionable to pursue business in markets such as India and China because political and business conditions were not conducive to direct foreign investment (Emerging Markets, Emerging Opportunities , 2012).As a result, many automotive companies such as General Motors, Toyota, Honda and Ford viewed strategic partnerships as a way to dip their toes into the water and expand into different...
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...its employees or labors or people working for their cause are not provided with the welfare and health benefits. The facilities of sufficient supply of wholesome drinking water, a sufficient number of latrines and urinals, washing facilities and first-aid facilities shall be provided by the contractor. If any of the above facilities is not provided by the contractor within the period prescribed the same shall be provided by the principal employer. Legislations involved in the legal issue Contract Labor (Regulation and Abolition) Act includes the details of various welfare and health facilities that should be provided to the labor in the chapter V. In the various sections and subsections, it is clearly defined the facilities like canteen, restroom that should be provided to the labor and also its quality is defined. It says that the facilities should be provided by the contractor and in case the contractor is not able to provide the same due to any reason it should be the duty of principal to provide the same. All expenses incurred by the principal employer in providing the amenity may be recovered by the principal employer from the contractor either by deduction from any amount payable to the contractor under any contract or as a debt payable by the contractor. The parties involved in the legal issue The details of the various parties involved in the legal issue are as follows: * Contract Labor: a workman shall be deemed to be employed as "contract labor" in or in connection...
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...economists are: • Coase theorem. Negotiating for compensation with no any government intervention on condition that the cost of negotiation is not high and the property rights are secured. • Pigouvian regulations or taxes: Drunk driving is incorporated. An economist would raise cost through reduced availability and added taxes Analyze how prescription drugs affect the demand and supply of other products and services in this country. According to Garrod and Willis (2007), in economics, the law of supply and demand is regard as one of the fundamental principles running an economy. It is illustrated as the situation where as supply raises the price will likely drop or vice versa. As demand raises the price will likely increase or vice versa. Essentially this is a standard that nearly all people intuitively understand concerning the relationship of services and goods against the demand for those services and goods. According to Lipsey and Courant (2011), when demand and supply are balanced, the economy is considered be in equilibrium between quantity and price. Formulate a reason why the elasticity of demand is an important consideration when analyzing the impact of a shift in supply and why the elasticity of supply is an important consideration when analyzing the impact of a...
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...[pic] NORTHCENTRAL UNIVERSITY ASSIGNMENT COVER SHEET Student: John M.Kaykay THIS FORM MUST BE COMPLETELY FILLED IN Follow these procedures: If requested by your instructor, please include an assignment cover sheet. This will become the first page of your assignment. In addition, your assignment header should include your last name, first initial, course code, dash, and assignment number. This should be left justified, with the page number right justified. For example: | KaykayJSKS7000-8-5 | Save a copy of your assignments: You may need to re-submit an assignment at your instructor’s request. Make sure you save your files in accessible location. Academic integrity: All work submitted in each course must be your own original work. This includes all assignments, exams, term papers, and other projects required by your instructor. Knowingly submitting another person’s work as your own, without properly citing the source of the work, is considered plagiarism. This will result in an unsatisfactory grade for the work submitted or for the entire course. It may also result in academic dismissal from the University. | | | |SKS7000-8 |Dr. Milton Kabia ...
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...Mcdonald's PESTLE Analysis POLITICAL The operations of McDonalds are affected by the government policies on the regulations of fast food operation. Currently government are controlling the marketing of fast food restaurant because of health concern such as cardiovascular and cholesterol issue and obesity among the young and children in the country. Governments also control the license given for open the fast food restaurant and other business regulation need to follow such as for a franchise business. Good relationship with government in giving mutual benefits such as employment and tax is a must for the company to succeed in any foreign market. McDonalds should also protect its workers by ensuring all the hiring, compensation, training or repatriation is according to Malaysian Labor Law as stipulated. ECONOMICS As a business entity, McDonalds need to face a lot of economic variables outside its company or its macro environment. Dealing with international sourcing for its material McDonalds should be aware on the global supply and currencies exchange. Remember, McDonalds import most of its raw material such as beef and potatoes due to local market cannot supply in abundant to meet the demand of its product. Any upside of currencies especially dollar will be impacting its cost of purchase. Working on the local country, McDonalds must face government regulations on tax of profit where it gains from the operation and other tax such as entertainment and restaurant service...
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...Supply Chain Management: made up of the interrelated organizations, resources, and processes that create and deliver products and services to end customers Supply Chain Includes… facilities functions activities involved in the process of delivering a product or service from suppliers to their customers Supply Chain Functions and activities… planning and managing supply & demand acquiring materials producing & scheduling the product/service warehousing inventory control distribution customer service Supply chain management Coordinates all these activities so that customers can be provided with prompt and reliable service Successful supply chain management in turn can provide the company with a competitive advantage Facilities along the supply chain plants warehouses distribution centers service centers retail operations Distribution methods Rail truck water air pipeline computer mail Uncertainty in the chain wrong forecasts late deliveries poor-quality materials or parts machine breakdowns canceled orders slow information transportation breakdowns Coping with uncertainty Insurance inventory companies carry inventory to minimize the negative effects of uncertainty and to keep the productive process flowing smoothly from suppliers to the customer Controlling uncertainty... identifying and understanding the causes of the uncertainty determining how it affects other activities up and down the supply chain formulating ways to...
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...(MSB) curve. It reflects the number of dollars’ worth of other goods and services willingly given up to obtain one more unit of a good. • The figure shows that the maximum price a consumer is willing and able to pay for the 6 millionth gallon of milk is $3, so the marginal social benefit of the 6 millionth gallon of milk is $3. • Consumer surplus is the value (or marginal benefit) of the good minus the price paid for it, summed over the quantity bought. The figure illustrates the consumer surplus as the shaded triangle when the price is $3 per gallon. Supply and Marginal Cost Supply, Cost, and Minimum Supply-Price • The cost of producing one more unit of a good or service is its marginal cost. Marginal cost is the minimum price that producers must receive to induce them to produce another unit of the good or service. And the minimum acceptable price determines the quantity supplied. So the supply curve for a good or service is also its marginal cost curve. • The market...
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...2.1: Country/Economy Profiles Mexico Key indicators, 2010 Population (millions)...............................................110.6 GDP (US$ billions)................................................1,039.1 GDP per capita (US$) .............................................9,566 GDP (PPP) as share (%) of world total..................2.09 GDP (PPP) per capita (int’l $), 1985–2010 15,000 12,000 9,000 6,000 3,000 Mexico Latin America and the Caribbean 1986 1988 1990 1992 1994 1996 1998 2000 2002 2004 2006 2008 2010 Global Competitiveness Index Rank (out of 142) Score (1–7) Stage of development 1 Factor driven Transition 1–2 GCI 2011–2012 ........................................................ 58......4.3 GCI 2010–2011 (out of 139)..................................................66........ 4.2 GCI 2009–2010 (out of 133)..................................................60........ 4.2 Basic requirements (38.6%)...............................................67........ 4.6 Institutions...........................................................................103........ 3.4 Infrastructure........................................................................66........ 4.0 Macroeconomic environment ...........................................39........ 5.2 Health and primary education...........................................69........ 5.7 2 Efficiency driven Transition 2–3 3 Innovation driven Institutions...
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