Premium Essay

Managerial App

In:

Submitted By silverdragon
Words 516
Pages 3
Comparative advantage is something that many companies, countries, and people must think about for many different reasons. The idea of comparative advantage is to produce a product or set of products at the cheapest price/time. For example in the book "The Choice" Dave says that by trading drugs for televisions is a "round-about way to wealth" or in other words Japan has a comparative advantage in making televisions, where the United States has a comparative advantage in making drugs compared to Japan. It is more to a country, company, or person to make one product as quickly and efficiently as possible and trade for the other products needed then trying to make everything that the company, country, or person needs. This idea of comparative advantage is used by many different companies, even companies that I have worked for. For example, McNaughton & Gunn, Inc. is a printing company based out of Saline, Michigan. M & G print many different kinds of books from spiral wire, plastic coil books, hard and soft cover books, ect. Anyways M & G can't do all of the bindings for all of these different kinds of books to be cheap and efficient so they outsource some of these processes to other binderies to do for them. M & G is in other words using the other binderies comparative advantage in a specific binding. Another example of M & G's practices is that when they have books that require them to have holes punched along the edge and plastic coil be put in them. If M & G were to do this themselves it may take them twice as long and may cost even more than that compared to their vendor Color Express Printing, Inc., however many of these jobs also are required to be individually wrapped in plastic. Even though M & G and Color Express Printing can both do this M & G completes this task. This is because even though both companies can do the required process M & G

Similar Documents

Free Essay

Paper

...Research or Interview Paper Instructions You can choose 1 of the following two options for your Research or Interview Paper. Your paper will be 7 double-spaced pages for the main content (not including the cover page and reference page). Your choices include: 1. A research paper Steps for writing the research paper: a) Choose a topic in Managerial Economics. b) Submit the topic and the outline of the paper to the instructor anytime for approval. c) A minimum of 3 references besides the textbook are required. Liberty University library has excellent resources for your search for journals. http://www.liberty.edu/index.cfm?PID=178 OR 2. An interview paper Steps for writing the interview paper: a) Choose a topic in Managerial Economics. b) Design at least 5 questions according to the topic. c) Submit your questions to the instructor for approval. d) Contact a local or non-local company for an interview. e) Conduct the interview for answers to your questions. f) The paper must have 3 parts: • The description of the company; • Interview questions and answers; and • Your comments. *The research paper is to be done individually, not as a group. **Do not wait until the last module/week to work on the paper. Do it as early as possible. ***A paper that was written for other classes would not be accepted for...

Words: 265 - Pages: 2

Premium Essay

Economics

...Case Study: Chapter 8 Aaron Lambert Saint Leo MBA 540 Managerial Economics Analyzing Managerial Decisions: Leaving New York for the Farmlands of Illinois While the co-workers may be rightly supportive of the individual’s aspirations, they are likely not qualified to advise him on this matter. The individual claims to have $800,000.00 saved from bonuses at his current place of employment. Based on that information alone, it appears that he is considering walking away from what seems like a fairly secure and profitable situation at his current job and committing to a new and less certain endeavor. With reports implying that demand for corn will soar the farming proposition may seem like a good idea; however, our potential farmer needs to consider other factors. The costs associated with acquiring the land are known and estimated to be $800,000.00, but there are other costs involved that are considerable and quite fixed. He will need to purchase farming equipment and machinery, which will require much more cash upfront in addition to the land. These fixed costs definitely need to be factored into the decision but are omitted in the text. If he has a lot more of that bonus money remaining, he could purchase the machinery outright. If paying cash is not possible he will need to take up a loan, lease, or rent; either option resulting in additional expenses incurred each period. Based on an article published by the University of Illinois in 2014, corn farmers in Illinois...

Words: 598 - Pages: 3

Premium Essay

Ecomics

...MID-TERM EXAM - 1st Semester, 2012 |Date |Time |Course Title & Code |Room No. | |29 June, 2012 |11.00 am ~ 12.30 pm |501: Accounting System & Auditing |502 | |(Friday) | | | | |30 June, 2012 |7.00 pm ~ 8.30 pm |502: Managerial Economics |402 | |(Saturday) | | | | |06 July, 2012 |3.00 pm ~ 4.30 pm |503: Business Communication |502 | |(Friday) | | | | |07 July, 2012 |7.00 pm ~ 8.30 pm |504: Advanced Management |502 | |(Saturday) | | | | |13 July, 2012 |3.00 pm ~ 4.30 pm |503: Business Communication...

Words: 266 - Pages: 2

Free Essay

Case Analysis2

...Coach Mike Krzyzewski (Coach K.) and Coach Robert Knight (Coach Knight) were two of the most winning and successful coaches to ever coach basketball. These men are not just known for their record wins, but for their unique leadership. They each had a unique way of leading their teams. Coach Knight was Indiana University’s head basketball coach and became a legend there. Coach K. was the head coach at Duke University since 1980. A fact of interest, both of these two men knew each other in an earlier time. Coach Knight had been Mike Krzyzewski’s basketball coach when he played for the United States Military Academy at West Point. It was there they began to build a relationship of trust and respect that would follow and remain with them throughout both of their careers and beyond, as they were also friends. Each of these men have differing ways in which they lead their teams, but there are leadership styles which they shared when it came to coaching. When taking the model which Robert Katz developed we can see there are skills that did account for their success. Coach Knight held two of the leadership traits that were professed by Katz. Those were technical skills and conceptual skills. He had the ability to know exactly was needed and how to make changes based on each individual situation. According to Katz’s model, Coach Knight did not have human skills. He was known for his roughness (e.g; using high levels of profanity and throwing objects onto the court). He did not have human...

Words: 666 - Pages: 3

Premium Essay

Conflict Management

...tEXECUTIVE SUMMARY The paper identifies different source and causes of different types of conflict in the work place. Analysis of the conflict was done with the aid of Blake and Mouton’s model of conflict management. The paper reflects on a real life observation using brightlands care home. Conflicts observed in the home were analysed and discussed. Manager positions in handling the conflict were also analysed using Blake and Mouton’s conflict management style model. Five conflict management style (competitor, collaborator, compromiser, accommodator and avoider) were used to analysed the conflict were based on the research of Blake and Mouton (1964). Using the conflict scenario, the paper critically discussed various approach towards conflict resolution within and between groups. 1.0 INTRODUCTION Conflict is a normal and natural aspect of life and the working environment hardly do without one form of conflict or the other. Conflict in the workplace is a well known daily phenomenon and it is on the increase. It is worth saying that a conflict free company never existed and will never exist. Tension, cultural differences, aggressions, antagonisms, negative attitude and frustration will usually exists especially wherever men are forced to live and work together. . Burton (1972) said in his book that Conflict, like sex is an essential creative element in human relationships. It is the means to change, the means by which our social values of welfare, security, justice and...

Words: 3575 - Pages: 15

Premium Essay

Leadership Styles

...Running head: Leadership Styles Leadership Styles Kellie Napper Grand Canyon University LDR 600 Leadership Styles and Development September 18, 2012 Leadership Styles Leaders have many different styles and approaches they take when evolving to becoming a great leader. It takes many years of practice to perfect a craft within certain individuals. Some crafts are more defined than others; never the less these skills are done to win over individuals in work environments and major league football teams. According to Katz (1955) there are three basic administrative needs that should be present for managers to be effective which are conceptual, human, and technical. Coach K’s approach contained both conceptual and human skills. Coach K was able to come up with an approach that was comfortable for both him and the team. He did not want to come with a lot of rules that no one would follow. Growing up Coach K spent a lot of time with his family. As he became an adult his wife and children were very important to him. This is the typed of approach he took with his team. Coach K lacked in my opinion in the technical area. He was not all about a lot of drills and long practices. Coach Knight’s approach contained conceptual and technical skills. Coach Knight had very little room for error. He drilled step by step plays into his players. He believed in practicing long hours and if you could not follow the rules you would be kicked out of practice. Coach Knight taught...

Words: 827 - Pages: 4

Premium Essay

Assessment 3

...1. Main roles of manager is leadership, leading your team, figurehead, people look up to you as a person of authority, liaison, you need to be able to network effectively, monitor, you must be able to monitor your team in both productivity and their wellbeing, spokesperson, you must be able to represent your company, Negotiator, negotiator within your team or department, people development, developing structure, procedures and policies. Hazif’s main role is production manager he is a great team leader and makes sure rules and regulations are met, he monitors his team well with weekly meetings to discuss problems. He has good people development skills giving monthly reviews to his employees on performance helping empower his team. He has introduced job rotation to build employees skills & knowledge. He rewards his team and creates a positive work culture. 2. Meeting Deadlines: Hazif rewards his employees to ensure all orders are completed and delivered in time and targets are met letting us know how Hazif is performing and if he is getting all deliveries out in time. Accidents at work: As part of the quality culture all staff know the importance to health and safety, all accidents should be recorded thus letting us know if Hazif is making sure all employees are sticking to the health and safety guidelines and how he is performing as a manager. 3. The functional or group approach. In 1973 john Adair theorised and developed an action-centred leadership model to...

Words: 658 - Pages: 3

Free Essay

Mba 540 Saint Leo

...ANALYZING MANAGERIAL DECISIONS: iTunes Music Pricing MBA 540 LaTroy Middlebrook May 22, 2016 Dr. M. Pate 1) Apple’s ingenious policy strategy in variable pricing permits Apple to increase iTunes sales profits by appraising highly regarded artists’ or songs at an elevated amount, than underappreciated artist or songs with fewer fans. For example, 2016 Grammy winner for Album of the Year, Taylor Swift, ‘1989’ sells for $7.99 and features 13 songs on iTunes. However, say that iTunes increases the price of the album to $8.99 and distributes sales of over 1000 copies. $7.99 x 1000 = $7,990 or $8.99 x 1000 =$8,990. iTunes can raise sales prices by $1.00 for every album sold over 1000 copies based on the admiration fans have placed on ‘1989’. Consequently, the price of the album will surge due to popularity, radio airplay, and iTunes sales profits will decrease on the most favored songs on the album. Despite the influx of popularity for the album, what variable pricing sales does is create substantiated revenue by generating copies of the less popular songs on the album by selling them as singles. Not to mention, Taylor Swift is a world renowned artist. Her music resonates with the old, young, and the middle-aged listener. The producers of the‘1989’ album took into account what was missing on her fifth album, ‘Red’. While the album did well in the market, it was overshadowed by other media outlets looking to profit from the internet’s popular downloading and iPhone’s contract with...

Words: 1506 - Pages: 7

Premium Essay

Can Apple Survive Without Steve Jobs

...Can Apple Survive without Steve Jobs Stevie Jay Ashford University AUSBUS 620 Dr. Buck May 12, 2013 Apples Brand Steve Jobs was and probably is still the greatest innovator of technology that we won’t see again anytime soon. Jobs determination and dedication to put the best product on the market was second to none. Jobs was into making his product the best, he has had his struggles along the way. His hard work and long hours resulted in not having a close relationship with his kids and his marriage. Jobs proved that if you have a vision you strive for the goal and whatever sacrifice you must make to accomplish this. With the death of Steve Jobs the question is can Apple survive without Jobs? Steve Jobs may have been known for his unethical antics by demoralizing his employees and taking credit for their work, but Jobs knew that in order for the Apple brand to be a success he had to run such a tight ship (Baggini, 2011). Jobs also criticized a number of his employees telling them that he didn’t have space for B and C workers only A+. If Phil Schiller can’t channel new products into ideas then Apple may be in trouble. Former managers are worried that Schiller won’t be able to carry the torch. They feel that he is over controlling and feels that he lacks the bold creative instincts needed to maintain Apples edge. Managers also feel that Schiller will be more of a conventional leader and may be prone to over hyping products in ways that may tarnish Apples...

Words: 1001 - Pages: 5

Premium Essay

Apple Inc.: Managing a Global Supply Chain

...rP os t W14161 APPLE INC.: MANAGING A GLOBAL SUPPLY CHAIN 1 Ken Mark wrote this case under the supervision of Professor P. Fraser Johnson solely to provide material for class discussion. The authors do not intend to illustrate either effective or ineffective handling of a managerial situation. The authors may have disguised certain names and other identifying information to protect confidentiality. op yo This publication may not be transmitted, photocopied, digitized or otherwise reproduced in any form or by any means without the permission of the copyright holder. Reproduction of this material is not covered under authorization by any reproduction rights organization. To order copies or request permission to reproduce materials, contact Ivey Publishing, Ivey Business School, Western University, London, Ontario, Canada, N6G 0N1; (t) 519.661.3208; (e) cases@ivey.ca; www.iveycases.com. Copyright © 2014, Richard Ivey School of Business Foundation INTRODUCTION Version: 2014-06-12 tC Jessica Grant was an analyst with BXE Capital (BXE), a money management firm based in Toronto. 2 It was February 28, 2014, and Grant was discussing her U.S. equity mandate with BXE’s vice president, Phillip Duchene. Both Grant and Duchene were trying to identify what changes, if any, they should make to BXE’s portfolio. “Apple is investing in its next generation of products, potentially the first new major product lines since Tim Cook took over from Steve Jobs,” she...

Words: 11092 - Pages: 45

Free Essay

Twelve O'Clock High

...multiple leadership styles from the commanding officers; Colonel Davenport, Brigadier General Savage, and Major General Pritchard of Pine Tree. Through Colonel Davenport, Major General Pritchard, and Brigadier General Savage at the start of the film we can see the distinct difference between their leadership styles. General Davenport shows a high concern for his navigator trying to take blame for a navigation error that was his navigator’s fault. Davenport shows a high concern for his men and a low or medium concern for production lead me to believe middleman management style. General Savage, who seems to have the exact opposite leadership style, is highly task oriented and shows little if any concern for the men of the 918th. Savage has a managerial style mimicking authority compliance. Major General Pritchard shares the same management style as Savage. Shortly after the conversation Davenport is relieved of his duty and Savage is put in control of the 918th. Pritchard and Savage are both men who believe chain of command stemming from the fact that they are in the military. According to them you must adhere to the chain of command at all times no matter the circumstances. They believe in orders and that orders should be followed exactly. Arrival at the 918th After arriving at the 918th Bomber Group, Savage is presented with a group of poorly motivated and disciplined men. He notices the lax of security at...

Words: 1595 - Pages: 7

Premium Essay

The Emotional Intelligence of Leaders

...Goleman, D. (1998). The emotional intelligence of leaders. Leader to Leader,(10), 20-26. According to the Goleman, author of “The Emotional Intelligence of Leaders” there is a difference between rational and emotional intelligence. The article detailed that both are essential to success. Studies that were conducted in hundreds of organizations show that that about two-thirds of the abilities that set apart star performers from the rest are based on emotional intelligence, only one-third of the skills that matter relate to raw intelligence and technical expertise. (Goleman 1998) There are some skills that a leader should possess. The author discussed 5 dimensions of emotional intelligence that are a foundation for specific capabilities of leadership. There is self awareness – when we are thinking about something, this helps us in our decision making. Managing emotions- a leader should be able to control his/her emotions. There was a study done at the Stanford University; four year olds were tested using marshmallows; the ones who were able to wait instead of grabbing a marshmallow immediately show self control. It was later determined at the age of 18; the kids who waited are emotional stable versus the ones who did not wait. Another skill that a leader should possess is the ability to motivate others. In order for a leader to be able to successfully motivate others; he or she needs to be optimistic. Optimists are able to handle setbacks and try again. A leader should also...

Words: 549 - Pages: 3

Premium Essay

The Leadership Grid

...The Leadership Grid Perhaps the best-known model of managerial behavior is the Managerial Grid®, which first appeared in the early 1960s and has been refined and revised several times (Blake & McCanse, 1985). It is a model that has been used extensively in organizational training and development. The Managerial Grid, which has been renamed the Leadership Grid®, was designed to explain how leaders help organizations to reach their purposes through two factors: concern for production and concern for people (Northouse, 2007). Concern for production refers to how a leader is concerned with achieving organizational tasks. It involves a wide range of activities, including attention to policy decisions, new product development, process issues, workload, and sales volume, to name a few. Not limited to things, concern for production can refer to whatever the organization is seeking to accomplish (Blake & Mouton, 1964) (Northouse, 2007). Concern for people refers to how a leader attends to the people in the organization who are trying to achieve its goals. This concern includes building organizational commitment and trust, promoting the personal worth of employees, providing good working conditions, maintaining a fair salary structure, and promoting good social relations (Blake & Mouton,1964) (Northouse, 2007). The grid theory breaks behavior down into seven key elements such as initiative, inquiry, advocacy, decision making, conflict resolution, resilience, and critique. Initiative...

Words: 1273 - Pages: 6

Premium Essay

Apple Communication

...Apple has been a highly successful company in the computer industry for over thirty years. It has changed the way the world communicates. With all its success, popularity, and profitability Apple is not without flaw. One of the major growing concerns for this company is that being secretive has caused a lack of communication between employees, most notably being between low- level sales people and its customers (Apple’s Communication Problem). The reason for this lack of communication is security. That’s right, they are told not to speak to each other. This may be a necessary evil in the highly competitive world of computers and electronics but it can be detrimental to the work environment. Imagine the distrust within the company when only a few employees know what it is going on. Not to mention the fact that it elevates the risk of an employee selling the secret if he is the only one knowledgeable of it. Keeping the knowledge to a minimum also reduces the creativity within the company. There are less people thinking on how to make a product better and that means less brainstorming and creative ideas. Not only is this problem found at the corporate and administration levels, but also down to the very bottom at the Apple stores. Apple is a firm believer that the less people that know about the product, the less likely it is be leaked to the public or competitors. The sales people have no idea when a product is coming out until the last minute and are ill prepared for selling the...

Words: 948 - Pages: 4

Premium Essay

How to Jailbreak an Iphone

...iDevice to eliminate Apple-imposed restrictions and gain privileged access. In other words, you get access to resources that would be otherwise unavailable on your stock Apple product. Heck, jailbreaking even allows you to completely change the way your iDevice looks and functions and make it more like—dare we say it—an Android.   Obviously, the biggest tradeoff to any jailbreak method is that it voids your warranty from Apple, which means the company—and by extension, the store you bought your iDevice from—are no longer obliged to uphold any warranty claim, much less repair your hardware if it ends up being a very expensive paperweight.   It may also lead to performance issues, but this one's more of a consequence to pulling the trigger on apps, extensions, or themes too quickly without waiting for feedback first.   >>READ ALSO: How to turn your Windows laptop into a hotspot If all of this sounds compelling and reasonable to you, then you may want to stick around as we guide you through the process of liberating your iOS device from Apple's ironhanded constraints with the help of Evasi0n, our jailbreak software of choice. The latest version of Evasi0n is compatible with iPhone, iPod, and iPad models running iOS versions 6.0 through 6.1.2.   Before going any further, we highly suggest that you do three things to make your jailbreaking experience as problem-free as possible:   1. If you're using a Windows-based machine, download and install Apple iTunes. Back up your iPhone...

Words: 535 - Pages: 3