...Supply and Demand Simulation Paper Roberta Barker ECO/365 August 25, 2014 Dennis Mc Guckian Supply and Demand Simulation Paper The simulation presents real-world scenario of how shifts of the supply and demand curve affect the equilibrium price and how understanding these concepts aids in the decision-making process. At each stage, new variables are introduced causing the shifts of the supply and demand curves the challenge is to determine the new equilibrium price correctly. This paper will explain what parts of the simulation are categorized as microeconomics and which are macroeconomics and why. In addition, identify a shift of the supply curve, a shift of the demand curve, and what caused the shift. I will also discuss what I have learned about supply, demand, and equilibrium price, and how microeconomics and macroeconomics principles or concepts affect it all. Microeconomic Principles or Concepts The first scenario I categorized as a microeconomic concept is the first challenge to reduce the number of vacancies in GoodLife’s two bedroom, temporary month-to-month lease apartments from 40 percent to less than 15 percent, finding a rental rate that will net maximum revenue. The second scenario I also put in this category involves an increase in in the number of rental units the company handles (from 2,000 to 2,500 units) and the rent increase to cover the additional maintenance required to rent all 2,500 units. My reasoning is microeconomics is the study of individuals’...
Words: 1106 - Pages: 5
...Marketing 1120 2014 Marketing Simulation Report LuxPak: Team 6 Michaela Sumpter & Harry Singh Table of Contents Introduction: Summary 3 Overall Result 3 Research and Applied Marketing Knowledge 4 Competition 4 Play by Play 5 Original Strategy 6 Target Market 7 Marketing Mix 7 Overall Performance Evaluation / Changes Made 8 Lessons Learned 9 Conclusion: Summary 9 Introduction: Summary During the Marketing Simulation Game, our team experienced many obstacles and had to work through them from beginning to end. Our turns appeared to be very scattered due to an communication obstacle, but we agreed we had to make a change in our entire strategy when we hit $3,970 in debt. Cohesively, we decided to change our target market, which led to promotional, pricing, product and placement changes as well. These alterations benefitted our team, since we began to bring in profit. Throughout this entire process, we learned many lessons and if we were to do this simulation over, both of us would approach our strategy differently. In this report, our overall result will be evaluated, the lessons we learnt along the way and how we applied marketing knowledge to our turns will be discussed, along with other factors that influenced our team along the way. Overall Result According to the leader board metric, we sold 310 units throughout the game, and earned a total of $15,220.06. Our changes benefitted our overall result, because in the end we ended...
Words: 2754 - Pages: 12
...NORTHWESTERN UNIVERSITY J.L. KELLOGG GRADUATE SCHOOL OF MANAGEMENT Marketing 430-62 Alice M. Tybout Winter Quarter 2000 Phone: 847.491.2723 Office: Leverone 468 e-mail: amtybout@nwu.edu COURSE OVERVIEW Course Objectives This is a survey course and, as such, is designed to provide students with an overview of marketing concepts and tools. While effort has been devoted to finding teaching materials that represent a variety of industries and employ a variety of media, the primary goal is to help provide you with concepts and tools that will be broadly applicable. More specifically, the course has two primary objectives: To develop your marketing decision-making skills. You should leave the course with a well-developed ability to: - analyze the marketing and business environment in which an organization is operating and identify the primary marketing problems facing the firm, - prioritize these problems and select the key issue to be addressed, - develop compelling and creative strategies for solving these problems, and - make tactical decisions that will achieve the strategy that you have selected and, thereby, solve the problems you have identified. To provide you with a set of concepts and tools that can support your decision-making. Fundamental concepts of marketing (such as marketing disciplines, segmentation, targeting, and positioning, customer satisfaction, perceived...
Words: 6149 - Pages: 25
...Implementation Layer Useful, reliable, and relevant data is used to deliver meaningful, actionable information BI Framework Business Requirements Data Sources Data Sources Data Acquisition, Cleansing,& Integration Data Acquisition, Cleansing, & Integration Data Stores Data Stores Information Services Information Delivery Information Delivery Business Analytics Business Analytics Business Applications Business Applications Business Value Business Value Development Data Resource Administration Data Resource Administration Data Warehousing BI & DW Operations Program Management BI Architecture ERP/BI Evolution Data Warehouse Standard Reports ROI Custom Reports Effort ERP Rollout Data Marts Views Excel Key Sites BI Focus Smaller Sites Time Customer Satisfaction BI Foundation Key Concepts: • Single source of the...
Words: 3637 - Pages: 15
...Harmon Portland State University I. II. III. INTRODUCTION MARKETING DECISION SUPPORT SYSTEMS CUSTOMER MANAGEMENT SYSTEMS IV. V. PRIVACY AND THE MARKETING INFORMATION SYSTEM CONCLUSION GLOSSARY customer relationship management (CRM) Software applications manage the interaction of customers with an organization. They are used to increase the return on marketing efforts by enabling the understanding of the complete history of a firm’s interactions with its customers. CRM systems are able to target promotions to likely buyers, facilitate sales efforts, and deliver customer service. cybermarketing The convergence of the Internet, computers, information systems, telecommunications and the customer with the marketing process. data mart A scaled down version of a data warehouse that usually holds a subset of the entire data set in order to provide more focused and faster access to specialized data. data mining Computer-based exploration and analysis of large quantities of data in order to discover meaningful patterns and rules for the purpose of improving marketing, sales and customer service operations. data warehouse Electronic storage that is a repository where data from internal and external sources are collected, organized and stored for future analysis. enterprise resource planning (ERP): Software applications that integrate back-office systems for order processing, manufacturing, finance, accounting, and human resources. ERP functions, in turn, integrate with marketing...
Words: 9350 - Pages: 38
...Database and database components Database management system Database models Database languages Database warehouse Database dictionary and indexing Databases A database is a collection of information that is organized so that it can easily be accessed, managed, and updated. In one view, databases can be classified according to types of content: bibliographic قائمة مراجع, full-text, numeric, and images. Database components Tables, Columns and Rows These three items form the building blocks of a database. They store the data that we want to save in our database. * Character or information about the attributes of an entity is stored in fields that is, individual items of data that we wish to store (like customer’s name). and it is represented in a cell. Columns * All fields containing data about one entity form a record (like one customer). And it is represented by columns. Rows * All related records form a file (like the customer file). And it is represented by rows. In databases, a row can be made up of as many or as few columns as you want. This makes reading data much more efficient - you fetch what you want. Tables * A set of interrelated, centrally coordinated Files forms a database (like a customer database). And it is represented by tables that make up the entire database and it is important that we do not duplicate data at all, including both rows and columns. Keys * Keys are used to relate one table for another. For example, A customer...
Words: 3581 - Pages: 15
...Computer crime involves: Theft by computer (including identity theft and phis hing) Software piracy and intellectual property misuse Software sabotage (malw are- including worms, viruses, Trojan horses, e tc.) Hacking and electronic trespassing. The computer crime dossier Computer crime: any crime accomplished through knowledge or use of computer technology Businesses and government institutions lose billions of dollars every year to computer criminals The majority of crimes is committed by company insiders Typically covered up or not reported to authorities to avoid embarrassment According to a 2001 survey of over 500 companies and government agencies: 85% detected computer security breaches in the preceding 12 months Financial losses due to security breaches topped $377 million 70% reported that Internet connections were frequent points of attack Only 31% said that internal systems were frequent points of attack. Theft by computer Theft is the most common form of computer crime. Computers are used to steal Money Goods Information Computer resources One common type of computer theft today is the actual theft of computers, such as notebook and PDAs Notebook and PDAs are expensive Data stored on a computer can be more valuable Denial o f Service ( DOS) Attacks bombard servers and Web sites with so much bogus traffic that they are effectively shut down networks, denying service to legitimate customers and clients. Computer security Protecting computer systems...
Words: 7438 - Pages: 30
...drive decision making. It is therefore closely related to management science. Analytics may be used as input for human decisions or may drive fully automated decisions. Data-driven companies treat their data as a corporate asset and leverage it for competitive advantage. Successful business analytics depends on data quality, skilled analysts who understand the technologies and the business and an organizational commitment to data-driven decision making. Once the business goal of the analysis is determined, an analysis methodology is selected and data is acquired to support the analysis. Data acquisition often involves extraction from one or more business systems, cleansing, and integration into a single repository such as a data warehouse or data mart. The analysis is typically performed against a smaller sample set of data. Analytic tools range from spreadsheets with statistical functions to complex data mining and predictive modeling applications. As patterns and relationships in the data are uncovered, new questions are asked and the analytic process iterates until the...
Words: 4604 - Pages: 19
...l550 best snacks Problem Solution: Best Snacks Inc. Chris Bross MMPBL/550 11-29-10 Alan Swank Problem Solution: Best Snacks Inc. BestSnacks has been an industry leader for years and recently for the last couple years their sales have started to decline, they have lost market share to competitors and the stock price has dropped getting shareholders antsy and management thinking. They have been forced to think about making some changes to the organization and its culture in order to jump start sales and become profitable again. The following paper will take a look at issues that BestSnacks is facing, the parties involved, what the goals of the organization are and the risks associated with the goals, and they will look at all ideas and decide which to develop and implement. Describe the Situation Issue and Opportunity Identification The snack food industry has grown over the years tremendously. There have been the traditional type snack foods as well as newer more health conscious snack foods. In all, it has grown in demand. Through this, BestSnacks has recently over the past few years seen a decline in sales, the stock price declining and have lost market share to their competitors. Because of all these recent declines they are now in jeopardy of losing a major relationship with a popular vendor. BestSnacks needs to change the culture of their company and create programs that will promote creativity and innovation from their employees. “The leaders of innovation...
Words: 6275 - Pages: 26
...CERTIFIED HR PRACTITIONER Module 1 – Day 1 © KPL/2012 LEARNING OUTCOMES 1. Explain what human resource management is and how it relates to the management process. 2. Show with examples why human resource management is important to all managers. 3. Illustrate the human resources responsibilities of line and staff (HR) managers. 4. Briefly discuss and illustrate each of the important trends influencing human resource management. © KPL/2012 LEARNING OUTCOMES 5. List and briefly describe important trends in human resource management. 6. Define and give an example of evidencebased human resource management. © KPL/2012 HRM - Definition Human Resource Management (HRM) is the process of acquiring, training, appraising, and compensating employees and attending to their labor relations, health and safety, and fairness concerns. © KPL/2012 THE MANAGEMENT PROCESS Planning Controlling Leading Organizing Staffing © KPL/2012 HRM PROCESS Acquisition Training Fairness Health and Safety Labor Relations Human Resource Management (HRM) Appraisal Compensation © KPL/2012 PERSONNEL ASPECTS OF A MANAGER’S JOB • Conducting job analyses • Planning labor needs and recruiting job candidates • Selecting job candidates • Orienting and training new employees • Managing wages and salaries • Providing incentives and benefits • Appraising performance • Communicating • Training and developing managers • Building employee commitment © KPL/2012 PERSONNEL MISTAKES • • • • • Hire...
Words: 3120 - Pages: 13
...NATIONAL INSTITUTE OF TECHNOLOGY SILCHAR Bachelor of Technology Programmes amï´>r¶ JH$s g§ñWmZ, m¡Úmo{ à VO o pñ Vw dZ m dY r V ‘ ñ Syllabi and Regulations for Undergraduate PROGRAMME OF STUDY (wef 2012 entry batch) Ma {gb Course Structure for B.Tech (4years, 8 Semester Course) Civil Engineering ( to be applicable from 2012 entry batch onwards) Course No CH-1101 /PH-1101 EE-1101 MA-1101 CE-1101 HS-1101 CH-1111 /PH-1111 ME-1111 Course Name Semester-1 Chemistry/Physics Basic Electrical Engineering Mathematics-I Engineering Graphics Communication Skills Chemistry/Physics Laboratory Workshop Physical Training-I NCC/NSO/NSS L 3 3 3 1 3 0 0 0 0 13 T 1 0 1 0 0 0 0 0 0 2 1 1 1 1 0 0 0 0 4 1 1 0 0 0 0 0 0 2 0 0 0 0 P 0 0 0 3 0 2 3 2 2 8 0 0 0 0 0 2 2 2 2 0 0 0 0 0 2 2 2 6 0 0 8 2 C 8 6 8 5 6 2 3 0 0 38 8 8 8 8 6 2 0 0 40 8 8 6 6 6 2 2 2 40 6 6 8 2 Course No EC-1101 CS-1101 MA-1102 ME-1101 PH-1101/ CH-1101 CS-1111 EE-1111 PH-1111/ CH-1111 Course Name Semester-2 Basic Electronics Introduction to Computing Mathematics-II Engineering Mechanics Physics/Chemistry Computing Laboratory Electrical Science Laboratory Physics/Chemistry Laboratory Physical Training –II NCC/NSO/NSS Semester-4 Structural Analysis-I Hydraulics Environmental Engg-I Structural Design-I Managerial Economics Engg. Geology Laboratory Hydraulics Laboratory Physical Training-IV NCC/NSO/NSS Semester-6 Structural Design-II Structural Analysis-III Foundation Engineering Transportation Engineering-II Hydrology &Flood...
Words: 126345 - Pages: 506
...P A R T I Discovering Momentum 1 1 The Power of Momentum Where’s the Impetus? Momentum. Most businesses get it at some point: the impression that everything they undertake succeeds effortlessly, as if they’re being carried along by a tailwind that increases their efficiency and propels them on to exceptional growth.1 Some hold on to it. Most don’t. Slowly, imperceptibly, the tailwind turns around and the momentum disappears, without anyone quite realizing what has happened. The company is still growing, but not as strongly as before, not as efficiently. Everyone’s maxing out, but it seems like there’s molasses in the works. Sound familiar? Sooner or later, it hits you in the face. Imagine you are meeting up with a senior analyst whose opinion counts with some of your company’s biggest investors. You think you’re on safe ground—after all, your company is doing better than the competition. But the analyst is in full gimlet-eyed, illusion-killing mode. “That’s nothing to crow about,” she says. “Yeah, you’ve got reasonable growth, but it’s nothing exceptional. You’re a safe bet, nothing more. Okay, I might tell my mom to buy, but 3 The Momentum Effect then she’s happy with inflation plus one. The way we see it, you’re really grinding it out. We reckon the strain’s getting harder, too. There’s no impetus—no momentum.” Words like that can really take the gloss off a day. The next time you gather your team, you don’t congratulate them on beating their targets—you...
Words: 104474 - Pages: 418
...Product Lifecycle: Business analysis that attempts to identify a set of common stages in the life of commercial products Portfolio Analysis: Process of comparing the contents of the portfolio to see which products or services are the most promising and deserve further investment, and which should be discontinued BCG: * Model for managing product lines. * It displays the various products on a graph based on market growth rate vs. market share relative to its main competitor. * Resources are then allocated according to where they are situated in the grid. * Cash cow: A product that has a large market share in a mature, slow growing industry. Cash cows require little investment and generate cash that can be used to invest in other business units * Star: A product that has a large market share in a fast growing industry. Stars might generate cash, but because the market is growing rapidly they require investment to maintain their lead. If successful, a star will become a cash cow when its industry matures * Question mark: A product that has a small market share in a high growth market. These business units require resources to grow market share, but they will succeed and become stars is unknown * Dog: A product that has a small market share in a mature industry. A dog might not require substantial cash, but it ties up capital that could be better used elsewhere. Unless a dog has a strategic purpose, it should be liquidated if there...
Words: 4230 - Pages: 17
...Running Head: BUSINESS INTELLIGENCE A REVIEW OF LITERATURE Business Intelligence: A Review of Literature Richard Clark Liberty University Abstract An explorative and descriptive review of literature on Business Intelligence (BI). It presents various definitions of the term “Business Intelligence” and determines that regardless the definition is a “means” to “end”, which sound business or organizational decision making, specifically in strategic planning and management. It also presents several important differentiation of Business Intelligence from data-centric technologies, and enterprise applications. It describes business intelligence architecture and its components. It identifies capabilities and benefits to be derive from it, barriers to its successful implementation, and critical success factors. It identifies BI software vendors, trends and forecast, and ethical considerations. It concludes with a conceptual framework that shows business intelligence as a process that produces intelligence necessary for strategic planning and management, that in turn results to a strategy that creates competitive advantages. This paper is an explorative and descriptive review of literature on Business Intelligence (BI). An exploratory research as the name suggests explores a problem or a situation with the purpose of defining an ambiguous problem. It is undertaken from the perspective of a student in management and of an IT “dummy”. Consequently, the review strategy is...
Words: 7412 - Pages: 30
...Executive Summary The Sneaker Seeker is a new company that sole purpose is to create a shoe that will track the where-a-bouts of not just children, but for people with mental conditions such as, Dementia or Alzheimer's. The goal is to build a shoe that is comfortable and stylish, but can track a person without any boundaries. The research showed that out of 100 people between the ages of 12 to 50 that had done a survey on would they where a sneaker that had a tracking device inside the results was mixed. Surprisingly 40% said that it would be invasion of privacy and wouldn’t wear the shoe, but a whopping 60% said that they would. Throughout this paper you will see the need for a shoe of this caliber. It is better to have safety, then to have a loved one missing for years. The shoes will go through a shoe press, this process takes the materials, such as leather or clothes shape the shoe into various parts, but in this process the GPS tracking device will be securely implanted in the tongue of the shoe. The GPS device will have a special plastic coating on it to prevent electrical shock or water damage to the device itself. The materials used will be made based on the style and type of shoe that is being manufactured. Leather would be used to make the running style, dress, and casual shoes. A cloth material will be used for tennis style shoes and causal walking shoes. Using a...
Words: 6365 - Pages: 26
