...The Total Environment of the Firm Educational factors • Literacy level – the percentage of the total population and those presently employed in the industry who can read, write and do simple calculations. • Specialized vocational and technical training and general secondary education – the type, quantity, and quality of persons obtaining such education or training and the proportion of those employed in industry with such education and training. • Higher education – the percentage of the total population and those employed in industry with post- high school education, plus the types and quality of such education. • Special management programs – the extent and quality of management development programs which are not run internally by productive enterprises, and which are aimed at improving the skills and abilities of managers and potential managers • Attitude toward education – attitude toward education and the acquisition of knowledge in terms of its presumed desirability • Education match with requirements – the extent and degree to which the types of formal education and training available in a given country fits the needs of productive enterprises on all levels of skill and achievement. Socio-cultural factors • View toward industrial managers and management – attitude toward industrial and business managers of all sorts, and the way that such managers tend to view their managerial...
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...The textbook definition of equality is “the quality or state of being equal: as a : sameness or equivalence in number, quantity, or measure b : likeness or sameness in quality, power, status, or degree.” Subsequent to reading “Harrison Bergeron”, “when every child is good enough”, and watching a major motion picture “The incredibles”, I ruminated the ideas presented in both the articles and the movies. After much deliberation, I have come to the conclusion that we should not be equal. In the passage “Harrison Bergeron”, it is a warning against equality because it will destroy individualism in order to create a world of total equality. In this world of total equality, special attributes aren't celebrated in fact it is quite the opposite. The government forces its citizens to hide their special attributes because of the insistence on total equality. Citizens in this story abide by their governments rules because either they agree with the government's goals and/or because they don't want to be punished. In the passage, the character, “Harrison Bergeron” seems to be a prominent symbol of freedom and self acceptance. When Harrison rips off his restraints it is a sign of defiance, but he is still killed by Diana Moon Glampers the Handicap General. Throughout this whole passage, the author Vonnegut, indicates we should...
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...Apparel: Unwrapping Ethics Whether American Apparel should change their advertising or stay with the highly sexualized nature they have been using for advertising Situation Analysis How American Apparel is going to take the brand from where they are at and move forward with it, either by changing their ways or staying the same. Internal Environment The resources American Apparel has available to them internally come from hiring young people for design and advertising to help them better reach their targeted market, and come up with the advertisements and style of clothing. The overall organizational goals are to offer a sustainable, high quality clothing product that appeals to young urbanite individuals who are likely to be loyal to their brand, and advertise it just by wearing it and making it popular. External environment Five Forces Influence the industry as a whole and determine the conduct of the firms within the industry and also determines profitability Competitive intensity-High Part of the reason American Apparel wants to change in order to build a lasting brand and to make a turnaround is due to the competitive intensity within the clothing industry. Competitive intensity reduces profitability because the more strongly firms are competing, the more likely they are to cut their prices. This intensity increases when there are numerous balanced competitors, slow growth, high fixed costs, lack of perceived difference between products offered by competitors, lack...
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...!! ! ! ! !! ! ! ! !! ! ! !! !! !! !! !! !! ! ! ! !! ! ! !! !! ! ! ! !! ! ! ! ! !! ! !! ! ! ! ! ! !! ! ! ! ! ! ! ! ! !! ! ! ! ! ! ! ! ! Introduction to OM Diff between products and services: • Tangibility, measurement of productivity, quality evaluation, level of customer involvement, definition consistency, ability to inventory, patentability Competition in OM • Product and service design, process and capability, quality, inventory and materials, quick response and flexibility, supply chain management, sustainability Productivity: Performance measurement of the effective use of resources ∝ 1/cost Goods/Services produced Inputs used to produce them Flow Time (FT): Time taken for unit to flow through entire process = 1/Inventory Turns Flow Rate (FR): Throughput/output rate • Constrained by demand rate, process capacity and supply rate Inventory: Average no of flow units in the process Little’s Law • Condition: The system is in steady state Process Design/Selection • Decision on the way production of goods and services will be organised and transformed ! Trade-off: An exchange where you give up one thing in order to get something else that you also desire. Operations function: Part of an organisation that is responsible for its processes that design, manage, improve and deliver its products/services to its customers Role of OM • Improve productivity, matching supply with demand, improving efficiency, manage trade-offs Product Design, Process Design, Capacity Planning ...
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...Brooklyn College Bus 7240X- Fall, 2011 Prof. Charles H Columbus Midterm Exam- November, 7, 2011 1. What are the key considerations an MNE must address when entering a new geography and what are the new concerns for its Financial Management? Why go Global? The keys considerations are: first, an open marketplace which is the fundamental condition for value creation. Second, a strategic management which is the ability to see business opportunities and to design, develop, and execute a long term plan with the goal to create value. The last thing is the access to capital which is the capability of the MNE to access to affordable capital in order to finance the investments. The international financial management requires an understanding of cultural, historical, the institutional differences such as those affecting corporate governance, the FX risk, the political risk, and the financial instruments. It is good to go global because it generates significant benefits for all shareholders. The theory of comparative advantage provides a basis for explaining and justifying why it is good to go global. Going global can make everybody better off. 2. A corporation has many masters to serve. Who owns the Business? Contrast the two wealth maximization models and how it played into the Porsche/VW saga? Companies are created by individuals or small set of partners. The ownership of a company can go from a 100 percent privately own to 100 percent publicly traded and in between a mixer...
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...The Effect of Employees on Organizational Goals The Effect of Employees on Organizational Goals No organization can function without a work force. While the size of the work force can vary, all organizations can either prosper or fail due to the employees that make up that work force. The police department is no different than any other organization when it comes to the necessity of its work force to work together in order to produce results. The police department I work for has five different divisions that field most of the work force. These divisions are as follows: Field Operations Division, Administrative Division, Detective Division, Special Operations Division, and the Internal Affairs Division. Each of these divisions has a specific responsibility. The responsibilities set before them organize what each division is responsible for so that they do not overlap and do each other’s work. The mission statement for the Raleigh Police Department is “In the spirit of service, the Raleigh Police Department exists to preserve and improve the quality of life, instill peace, and protect property through unwavering attention to our duties in partnership with the community.” Field Operations has the largest number of employees and the greatest effect on organizational goals. The Field Operations Division within the Raleigh police Department is broken into six districts covering different parts of the city; Northwest, North, Northeast...
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...foods, servicing industry and so on. • Firm’s objective – maximize profit – attain production efficiency whereby cost is minimized TOTAL PROFIT = TR – TC if TR >TC → Profit (+ve) if TR
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...Strategic alliance * High cost importance * Limited substitutability Explosion of product strategy * Domestic and global markets overflowing * >30,000 consumer products produced each year * good news: buyer have a choice * bad news: more complicated Product configuration * product selection process * often referred to as “product configuration” * product configuration software * develops customized product solutions quickly and accurately * incorporates customer selection criteria * identifies options, pricing, delivery schedules * can integrate with customer relationship management CMR apps Parts to becoming a product expert * Product development and quality improvement processes * Development * Be familiar with product history * Know stages of product testing * Link key features and...
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...the final users of products or services. The consumer's use is final in the sense that the product is usually not improved by the use. DUTIES OF CONSUMERS 1. Buying quality products at reasonable price. 2. To check the weights and measures before making purchases 3. Reading the label carefully. 4. To procure the bill, cash received warranty, etc. 5. Shopping carefully and wisely 6. Understanding the terms of the sale 7. Reading and following instructions HOW CONSUMERS ARE EXPLOITED 1. Underweight and Under-measurements : The goods being sold in the market are sometimes not measured or weighed correctly 2. Sub-standard Quality : The goods sold are sometimes of sub-standard quality. Selling of medicine beyond their expiry dates is generally the grievances of consumers. 3. High Prices : Very often the traders charge a higher price than the prescribed retail price 4. Duplicate Articles : In the name of genuine parts or goods, fake or duplicate items are being sold to the consumers. 5. Artificial Scarcity : In order to amass illegitimate profit, businessman create artificial scarcity by hoarding. They sell it later at a higher price. 6. False or Incomplete Information : Sellers easily mislead consumers by giving wrong information about the product, its price, quality, reliability, life cycle, CONSUMER MOVEMENT Consumer movements arose out of the following: 1. Dissatisfaction of the consumers as many unfair practices were being...
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...15/08/2015 Ambalal D. Bhatt vs The State Of Gujarat on 7 March, 1972 Main Search Advanced Search Disclaimer Mobile View Cites 8 docs [View All] the Drugs (Control) Act, 1950 Section 18 in the Drugs (Control) Act, 1950 Emperor vs Shivdas Omkar Marwadi on 15 November, 1912 Bhalchandra Alias Bapu & Anr vs State Of Maharashtra on 11 April, 1968 Suleman Rehiman Mulani & Anr vs State Of Maharashtra on 1 December, 1967 Citedby 29 docs [View All] Sushil Ansal vs State Through Cbi on 11 September, 2001 B.P. Ram And Anr. vs State Of Madhya Pradesh on 23 October, 1989 B.P. Ram And Anr. vs State Of Madhya Pradesh on 23 October, 1989 Gopal Ansal vs State (Through Central Bureau Of ... on 19 December, 2008 The vs Pitchaiah Moopanar Alias ... on 8 August, 2012 Get this document in PDF Print it on a file/printer Supreme Court of India User Queries salt Ambalal D. Bhatt vs The State Of Gujarat on 7 March, 1972 prabhakaran Equivalent citations: AIR 1972 SC 1150, 1972 CriLJ 727, (1972) 3 SCC 525 drug inspector Author: P J Reddy Bench: H K Shelat, P J Reddy 105 drug act sec 304a JUDGMENT P. Jaganmohan Reddy, J. 1. The appellant (original accused No. 2), a Chemist Incharge of the Injection Department of Sanitax Chemical Industries Ltd. Baroda (hereinafter referred to as S. C. I. Ltd., along with 5 others was charged under Section 304A, I.P.C. for rashly and negligently manufacturing a solution of glucose in normal saline Batch...
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...Spring, 2013 Unit 2 Summary 4/25 Outcomes: 1. To review air quality issues related to fossil fuel consumption and the limitations of this resource. 2. To define energy, work, heat, and temperature in scientific (thermodynamic) terms, and how the terms calorie, nutritional Calorie, joule, and kilojoule are related. 3. To describe the First Law of Thermodynamics as the conservation of energy, and the interplay of kinetic, potential, heat and work energy. To describe and apply the Second Law of Thermodynamics from several points of view: randomness, chaos, probability, distribution of matter and energy, energy efficiency. 4. To know that we measure energy only through change, such as with a calorimeter. 5. To use potential energy diagrams to represent changes that take place in reactions 6. To use the terms endothermic and exothermic to describe the entry or exit of heat from chemical systems (and that the opposite change must take place in the surroundings). 7. To know that energy changes in reactions come from changes in chemical bonds, and how they can be estimated from differences in bond energies of bonds broken vs. formed. 8. To express and interpret these changes in potential energy diagrams and apply these skills to the combustion of fuels. 9. To view and describe recent trends in energy source utilization. 10. To give specific details on the composition of coal and its impacts on environmental quality. Assignments: Read §4.1 – 4.5. Recommended exercises:...
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...Economics Basics: Introduction Economics may appear to be the study of complicated tables and charts, statistics and numbers, but, more specifically, it is the study of what constitutes rational human behavior in the endeavor to fulfill needs and wants. As an individual, for example, you face the problem of having only limited resources with which to fulfill your wants and needs, so, with your money, you must make certain choices. You'll probably spend part of your money on rent, electricity, and food. Then you might use the rest to go to the movies and/or buy a new pair of jeans. Economists, interested in the choices you make, inquire into why, for instance, you might chose to spend your money on a new DVD player instead of a replacing your old TV. They would want to know whether you would still buy a carton of cigarettes if prices increased by $2 per pack. The underlying essence of economics is trying to understand how both individuals and nations behave in response to certain material constraints. We can say then that economics, often referred to as the “dismal science,” is a study of certain aspects of society. Adam Smith (1723 - 1790), the “father of modern economics” and author of the famous book An Inquiry into the Nature and Causes of the Wealth of Nations, spawned the discipline of economics by trying to understand why some nations prospered while others lagged behind in poverty. Others after him also explored how a nation's allocation of resources affects its wealth...
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...Approaches to manage risk: 1. Build redundancy 2. Use info to better sense and respond to disruptions 3. Incorporate flexibility 4. Improve supply chain processes to including risk assessment measures Building blocks in effective supply chain: strategic partnerships, info sharing, outsourcing, e-business. Strategic issues – deal with long term goals (number, location, capacity of facilities) Tactical issues – quarterly/yearly basis (transportation, purchasing, inventory policies) Operational – day-to-day (truck-loading, scheduling, lead-time quotations) Supply chain disruptions: * Part shortages * Roll-out problems * Order change by customers * Production problems * Development problems * Quality problems Dealing with excess inventory: * Write-offs * Customers taking actions * Production curtailment * Markdowns and promotions Chapter 2 Types of inventory: raw materials, WIP, finished goods. We need inventory due to unexpected demand, uncertainty of supply, supplier costs, lead times, and...
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...activities, benefits or satisfaction that is essentially intangible and does not result in the ownership of anything. Experiences represent what buying the product or service will do for the customer 3 levels of Product 1. Core customer value - What is the customer buying? 2. Actual product – What is the core benefit of the product? (Brand name, features, design, packaging, quality level) 3. Augmented value – what are the additional customer services and benefits? (Warranty, product support, deliveryand credit, after sales service) Product Classification 1. Consumer products a. Products and services for personal consumptions b. CONSUMER PRODUCT CLASSIFICATION: i. Convenience Products – consumer products and services that the customer buys frequently, immediately and with a minimum comparison and buying effort ii. Shopping products – consumer products and services that the customer compares carefully on suitability, quality, price and style iii. Specialty products – products with unique characteristics or brand identification for which a significant group of buyers is willing to make a special purchase effort iv. Unsought Products – Consumer products that the consumer does not know about but does not normally think of buying 2. Industrial Products a. products purchased for further processing or for use in conducting a business b. INDUSTRIAL PRODUCT CLASSIFICATION: i. Materials and Parts – include raw materials and manufactured materials and parts usually sold...
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...Table of Contents Managerial Economics: Bridging the gap between economic theory and business practice Introduction 3 Definition 3 Economic Theory Vs. Managerial Theory 4 Decision-making 6 Scope of Managerial Economics 6 Positive versus Normative Economics 7 Positive Economics 7 Normative Economics 7 Examples Demonstrating How Managerial Economics Translates Economic Theory into Business Practice 9 Demand Analysis and Forecasting 9 Cost and Production Analysis 10 Inventory Management 10 Advertising 11 Pricing Decision, Policies and Practices 11 Profit Management 11 Capital Management 12 Responsibilities of a Managerial Economist 13 Conclusion 15 Gadgets International: A Case Study Nature of the Case Study 16 About Gadgets International (GI) 16 Market/Industry Structure 17 Firm’s Objectives 19 Using Economic Theory to Attain Gadgets International’s Organizational Goals & Objectives 19 Optimal Output Level & Pricing Strategy 19 Inputs and Costs 22 Accommodating Change 24 Promoting Growth 25 Conclusion 26 Managerial Economics Bridging the gap between economic theory and business practice Introduction The science of Managerial Economics has emerged only recently. With the growing variability and unpredictability of the business environment, business managers have become increasingly concerned with finding rational and ways of adjusting to an exploiting environmental change. Managerial economics generally refers to the integration...
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