...Economics, and hence the determinants of supply, demand and wages for labour. In this essay, I will be looking at the unique example of the Sports Labour Market with specific focus on the European Football Market, and use various economic models to justify the huge salaries currently offered to top athletes within this field. The wages of professional footballers have risen dramatically since the Bosman ruling in December 1995, in which EU football players were given the right to a free transfer at the end of their contracts, with the provision that they were transferring from a club within one EU Association to a club within another EU Association (European Commission, 2012).This has been supported by various studies, including (Simmons, 1997), who argued that the move towards a free agency had the consequent impact of increasing players’ salaries, as the forgone transfer fees translate into increased salaries, since the bargaining power is transferred to the player. This was reinforced by (Downward, 2000) who found that post-Bosman, the wages within the United Kingdom’s Premier League rose considerably. However, these findings conflict with other studies conducted, including (Szymanski, 1999), who argued that the new ruling only lead to increased wages for superstar players who have the greatest bargaining power, and that it did not affect the wages for the average player. During this essay I will first discuss the basic economic principles relating to the labour market, and...
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...CHAPTER 15 Capital Structure: Basic Concepts Multiple Choice Questions: I. DEFINITIONS HOMEMADE LEVERAGE a 1. The use of personal borrowing to change the overall amount of financial leverage to which an individual is exposed is called: a. homemade leverage. b. dividend recapture. c. the weighted average cost of capital. d. private debt placement. e. personal offset. Difficulty level: Easy MM PROPOSITION I b 2. The proposition that the value of the firm is independent of its capital structure is called: a. the capital asset pricing model. b. MM Proposition I. c. MM Proposition II. d. the law of one price. e. the efficient markets hypothesis. Difficulty level: Easy MM PROPOSITION II c 3. The proposition that the cost of equity is a positive linear function of capital structure is called: a. the capital asset pricing model. b. MM Proposition I. c. MM Proposition II. d. the law of one price. e. the efficient markets hypothesis. Difficulty level: Medium INTEREST TAX SHIELD a 4. The tax savings of the firm derived from the deductibility of interest expense is called the: a. interest tax shield. b. depreciable basis. c. financing umbrella. d. current yield. e. tax-loss carryforward savings. Difficulty level: Easy 15-1 UNLEVERED COST OF CAPITAL b 5. The unlevered cost of capital is: a. the cost of capital for a firm with no equity in its capital structure. b. the cost of capital for a firm with no debt in its capital structure. ...
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...Relationship between Marginal Cost and Marginal Revenue Elisa Montoya Economics and Global Business Applications EGT1 October 23, 2013 Relationship between Marginal Cost and Marginal Revenue This essay will explain the relationship between “Marginal Cost” and “Marginal Revenue”, as well as the importance that these concepts for the maximization of profits. Profit Maximization Explanation For Profit Maximization there are financial estimations that are utilized to figure out the impacts of generating one or more units in a preparation framework. Profits are maximized when marginal cost and marginal revenue are equal, something that all business’ should strive for. This method gives the company the most out of their costs of production and sales generation. Total Revenue to Total Cost According to a particular sequence for maximizing total profit, you need to augment the variance between total revenue and total cost. Total revenue comes from the sale of the firm’s output (widgets in this case); this is the amount that will come from the selling of widgets multiplied by the quantity of widgets sold at that same price. A firm needs two parts when calculating economic profit; total revenue and total cost. Total costs are the sum of implicit and explicit costs. Implicit costs are those costs that are derived from what economists describe as opportunity costs. For example something that is tangible is given...
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...Project Report TOPIC: “REMOTE IT Infrastructure Management ” 1. Abstract The recently launched NASSCOM-McKinsey Report 2006 yet again reaffirmed views of the global gurus that Remote Infrastructure Management (RIM) Services are all set to become the next star of the Indian IT Industry. It clearly states that “going forward, the more traditional IT outsourcing service lines such as hardware and software maintenance, network administration and help desk services will account for 45 per cent of the total addressable market for offshoring and are likely to drive the next wave of growth. . Service lines that have driven recent growth, i.e., application development and maintenance (ADM) and R&D services are already 30-35 % penetrated and are not as likely to grow dramatically”. The Remote/offshore part was easy with BPO having already paved the way for proving service delivery effectiveness from an offshore location and with the advent of sophisticated tools and technologies that enabled remote IT management the proposition was further solidified. International research firm IDC also declared that “more than 85% of infrastructure components can be managed from a central remote location. These components encompass servers/systems, databases, networks, storage, security, applications and e-business infrastructure. Through managing these components from a remote location, companies can cut down their cost of infrastructure operations and management by 40-60 %, also gaining access...
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...by the mid-1980s, the nation's pet population, consisting of about 50 million dogs and 50 million cats in half of the U.S. households, had entered a period of slow growth. As pet food consumption stabilized at around 10 billion pounds per year, the industry's major players realized that sales increases would most likely follow only from larger “share of stomach.” The vast majority of pet food sales were for cats and dogs. In 1986, dog food sales exceeded $3.2 billion, while cat food sales were about $2.1 billion. Within each of these two broad categories, however, there were different types and several flavors of pet food made from many different ingredients including grains, poultry, fish, meat, and animal by-products. No tC The principal types of pet food were (in order of sales) dry, canned, and moist. Dry pet food, the largest dog and second largest cat segment in 1986, had a cereal base that was augmented with animal- or plant-based protein, fats, vitamins, and minerals. Dry foods had a low moisture content (5% to 15%), and therefore did not contain preservatives. Canned food for dogs consisted of meat and meat offal (inedible animal by-products), and for cats it was usually made from fish and fish offal. Canned products typically had a moisture content of 70% to 80%. Moist pet food was made from animal by-products, dairy products, fats, oils, soybean products, vitamins, and minerals. These products, with a moisture content of 20% to 30%, were usually ...
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...1.1 Introduction One of the leading IT services companies, L&T Infotech., is a well established company. It is an Indian company which always maintained the highest international standards of excellence through quality, technology and innovation. The company has an ISO 9001-2001 certification and has high profile clients such as like Chevron, Free scale, Hitachi, Sanyo and Lafarge, among others. L&T Infotech is a global IT services and solutions provider. It provides the winning edge to the clients by leveraging Business-to-IT Connect and deeply committed people. The clients have found in L&T Infotech a right-size partner who combines scale, stability and customer-centricity The parent company is Larsen & Toubro Ltd. (L&T), a technology, engineering, manufacturing and construction conglomerate, with global operations. This rich corporate heritage has given many inherent advantages that translate into tangible benefits for the clients. Founded in 1938, Larsen & Toubro Limited (L&T) is a technology, engineering, construction and manufacturing company. It is one of the largest and most respected companies in India's private sector. Seven decades of a strong, customer-focused approach and the continuous quest for world-class quality have enabled it to attain and sustain leadership in all its major lines of business. L&T has an international presence, with a global spread of offices. A thrust on international business has seen overseas earnings...
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...Wharton MBA • Class of 2015 Waiver Exam Guide Table of Contents Introduction .................................................................................................................................................3 Accounting (ACCT611) Sample Placement Exam..................................................................................................................5 Sample Waiver Exam–Part 1 .........................................................................................................18 Sample Waiver Exam–Part 2 .........................................................................................................31 Sample Placement Exam Answers .................................................................................................49 Sample Waiver Exam–Part 1 Answers ..........................................................................................56 Sample Waiver Exam–Part 2 Answers ..........................................................................................60 Corporate Finance (FNCE611/612) Placement/Waiver Exam–Part 1....................................................................................................65 Placement/Waiver Exam–Part 2....................................................................................................70 Placement/Waiver Exam–Part 1 Answers.....................................................................................76 Placement/Waiver Exam–Part 2...
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...LALA LAJPATRAI COLLEGE OF COMMERCE AND ECONOMICS Mahalaxmi, Mumbai - 400 034 Masters Of Commerce (Part I) PERFORMANCE APPRAISAL Name of the Student:__________________________ Seat No.: _______________ Name of the Guide: ___________________________ Date: ___________________ DECLARATION I, Yusuf Kunda of LalaLajpatrai Collegeof Commerce & Economics, of M.Com (Part I) hereby declare that I have completed this project on Performance Appraisal in the academic year 2012-2013. The information submitted is true and original to the best of my knowledge. Signature of the Student CERTIFICATE This is to certify that student, YUSUF KUNDA of M.Com (Part I) has successfully completed the project on PERFORMANCE APPRAISAL under our supervision and this is the result of his earnest work. The information given by him in this project is original and true to the best of our knowledge. Date: Signature of the Signature of the Principal Project Co-ordinator of the College Signature of the Signature of the External Course Coordinator Examiner ACKNOWLEDGEMENT It has always been my sincere desire as a management student to get an opportunity to express my views, skills, attitude and talent in which I am proficient. A project is one such avenue through which a student does...
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...This essay makes an attempt to address Orthopedic and Musculoskeletal Disorders. Also attempted, is a developmental design and evaluation of an appropriate individualized education goals and the issues surrounding the disorder of the above mentioned disease. Within the design, several directives will be accomplished: two (2), appropriate individualized education goals to meet the needs of the student. An analytical view, of the disorder, and what the specifics are associated with these type(s) of disorders. What the salient complications are as a result of the disorder, the particulars of finances and assistance as they affect the educational system. What treatment options are available, rehabilitation, and are there any appropriate educational interventions to address the situation. Lastly, what are the teacher's responsibilities, in terms of meeting the needs of students with curvature of the spine, hip conditions, limb deficiency, juvenile rheumatoid arthritis, and musculoskeletal disorders? (2) Appropriate Individualized Educational Goal: Two appropriate individualized education goals; Annual Goals: Jessica is a 14 year girl who is also a sophomore, with an orthopedic and musculoskeletal disorder, she will have the ability to join in with her classmates in activities that; will allow her the use of her hands, shoulders and much more, far more than she was previously able to do. These activities include; the ability to produce her own written assignments and use...
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...HRM ESSAY HOW IS HRM INFLUENCING IN A COMPETITIVE WORLD BY MARIA MEMON BBA 5C SUBMITTED TO:MS SALEHA HAROON "In a global competitive world, you gotta win. When you win, you give back." ~ Jack Welch~ Human Resource management or the personnel management, in a sense means getting things done by its people. It is an essential role that is eventually played by every manager. HRM is basically about how one manage its people in a effective way in order to gain more productivity and HR means ‘human resource’ that show the people viewed as a resource in an organization, if effectively managed can bring productivity and can be a competitive advantage for an organization. Before putting an argument on how HRM is influencing in a competitive world we need to realize that HR is more than maintaining personnel functions. Corporate and economic development dictated that businesses to remain competitive, needs to view HRM as an evolutionary function. In this essay certain issues and challenges have been discussed that influence HR to remain competitive in this modern world. Firstly it is told about employees are the competitive advantage of a company and to manage it effectively is the primary goal of an organization. This essay is also about how workforce diversity can bring positive and negative impact on organization it is also about how rapid technological changes and globalization had bring challenge for HR professional. The basic point on which this essay focus is about...
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...Preparing ... Sales Staff to Promote Repackages Lines of Coppertone Introduction This essay will outline how ... (...) can successfully prepare its sales staff to promote repackaged lines of its Coppertone products. The identification of ...’s business strategy and the general training implications that result, has provided a general framework for the discussion of designing, developing and evaluating of an effective training session for the staff. 1.1 Business Strategy and Training Implications ... has decided to increase its product line by developing pocket-sized sticks and sprays of sunblock after conducting market research indicated that consumers were looking for a daily sunblock product. Managers have reasoned that ...’s that this move will result in a significant market expansion. ... is currently adopting an internal growth strategic direction. Organisational objectives outlined above, point toward an internal growth strategic direction. Firstly as ... wishes to increase product lines and expand its market, this points to a focus on product and market development as well as the marketing of an existing product. Innovation is achieved through the modifying the size of its existing sunblock for the convenience of consumers. In order for the sales force to be prepared to promote the new lines, this strategy has several training implications (Noe 2010). Market research has revealed an increased awareness of the dangers of sunburn. A fundamental element of this strategy...
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...PART I - INTRODUCTION Chapter 1 Introduction and Goals of the Firm Managerial economics is that part of economics applied to the decisions that managers must make. When managers make decisions that maximize firm profits, they simultaneously maximize shareholder wealth and promote efficient allocation of resources. Managers drift away from this objective when they concentrate on their own security. To avoid non-profit maximizing behavior, a growing number of firms are structuring compensation plans for managers that promote long-term profitability. Shareholder Wealth Maximization 1. To align the interests of the shareholders of Salomon Smith Barney with the interests of its chairman, most of the chairman's compensation is based on the performance of the company relative to its five major competitors. 2. Executive compensation is based on Salomon' return on equity and return on equity of their competitors. The bonus can be as large as $24 million. Managerial Economics and Economic Theory 1. Managerial Economics deals with applications of microeconomics. It is useful for making business decisions concerning pricing, production, cost analysis, market structure, and strategy. 2. Honda and Toyota both expanded capacity to produce cars in the US. The decision is either to expand (S1) or not expand (S2). Both firms believe that the capacity expansion was profitable. 3. Steps in decision making include: Establish and identify...
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...1. INTRODUCTION 2. ROLE OF CSOS IN BUSINESS GOVERNMENT INTERFACE 3. LOBBYING - INTRODUCTION 4. ETHICAL IMPLICATIONS OF LOBBYING 5. EXAMPLES OF LOBBYING 6. ACTIONS BEING TAKEN TO CURB THE UNETHICAL ASPECT OF LOBBYING 7. CONCLUSION & RECOMMENDATIONS 1. INTRODUCTION The growth and function of every business is highly dependent on the government. A large number of government actions in addition to laws and regulations affect companies’ finances. There are several reasons behind regulation of business by the government. 1. Public safety and welfare: Many industries are regularly reviewed and overseen because their activities, if they go skewed, can have detrimental effects to human health, financial well-being, or community structure. [21] 2. Protecting industry: Many regulations are in place to protect those who have developed their business correctly; licensing, permits, and inspections by the government clear out criminal activities that challenge truthful industries. [21] 3. Revenue generation: Many programs require certification or licensing that businesses must pay for in order to operate. The funds collected go to pay for the government programs that perform the oversight of the particular industry. However, in many cases, some portion of revenue is also deflected to general government purposes and is, effectively, a tax. Businesses, on the other hand, may consult...
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...been coming to the realization that there is a need to protect that data somehow. These companies seek out IT professionals who help them create Business Continuity Plans. These Business Continuity Plans help companies better safeguard and effectively retain their essential data in the case of a catastrophic failure of their network infrastructure. In this essay, I will be discussing the different intricacies of a Business Continuity Plan and how to effectively build one to suit the needs of the individual company. The Effects of a Business Continuity Plan on Information System A frog if put in cold water will not bestir itself if that water is heated up slowly and gradually and will in the end let itself be boiled alive, too comfortable with continuity to realize that continuous change at some point may become intolerable and demand a change in behavior. (Handy, 1990) There have been so many companies over the years that have failed due to lack of a proper Business Continuity Plan. Taking the time and utilizing the correct resources to create a Business Continuity Plan can easily counteract this. In this essay, I will provide an example of a few companies who did not have proper Business Continuity Plans and how that can affect a company, which you may work for in the future. I will then go into what a proper data backup consists of and the different mediums that should be utilized. Once the data backup is explained I will then delve into what a proper Business...
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...Marks and Spencer IB209 Marketing Analysis Anshul Maini 1036526 Marks and spencer also called as M&S and Marks and Sparks was found in the year 1884 by two people Michael Marks and Tom spencer (Bevan, 2007). Ever since then marks and spencer has delivered goods of the best quality and now to day it stands as one of the best retail chains in the UK. They primarily deal in Clothing and food. The company is headquartered in London, UK and is the one of the biggest companies in the world. It’s ranked #725 in the Forbes 2000 list (Marks and Spencer on Forbes 2000 list, 2011) and is amongst the top 5 retail firms in the country. Currently the chairman of the company is Robert Swanell and the Chief Executive is Marc Bolland. (Annual Report, 2011). Over the years Marks and Spencer has gone through ups and downs. It is the first British Retail firm to make a Profit before tax of over £1 Billion which was in the year 1998.After that the company had hit rock-bottom which was due to heavy competition and the company’s inability to satisfy its customers, it went into heavy losses in its turnover. After amending a few policies and the change of the Chief executive, the company looked more closely at the customer’s needs, wants and demands and modelled their strategies around it, thus rising it from the ashes. However again in 2008, the company went into a credit crunch which was mainly because of the recession. (M&S shares dive on gloomy outlook, 2008) (Bevan, 2007).Although M&S has...
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