The competitive environment concerns factors stemming from outside a business that affect a business’s ability to gain or win customers The greater the number of businesses selling a particular type of product or service the more competitive is the environment. The work of Porter can be used to analyze the competitive environment. -how the state of competition in an industry is governed by five factors called forces, and how the combined strength of these forces determines an industry’s profit
Words: 2532 - Pages: 11
Abstract Despite discussion in the literature of “new governance,” the self-standing government agency continues to constitute the institutional center of American public administration. Drawing on his volume Mission Mystique, the author proposes that the book’s concept of mystique and its template of institution-strengthening characteristics be used to reaffirm this point, buttress agencies against defunding, and
Words: 12813 - Pages: 52
WITH SHAREHOLDER-MANAGER CONFLICTS * * AGENCY VERSUS CONTRACT * * FURTHER READING: Agency theory suggests that the firm can be viewed as a nexus of contracts (loosely defined) between resource holders. An agency relationship arises whenever one or more individuals, called principals, hire one or more other individuals, called agents, to perform some service and then delegate decision-making authority to the agents. The primary agency relationships in business are those (1) between
Words: 17274 - Pages: 70
Managerial Behavior, Agency Costs and Ownership Structure Michael C. Jensen Harvard Business School MJensen@hbs.edu And William H. Meckling University of Rochester Abstract This paper integrates elements from the theory of agency, the theory of property rights and the theory of finance to develop a theory of the ownership structure of the firm. We define the concept of agency costs, show its relationship to the ‘separation and control’ issue, investigate the nature of the agency costs generated by
Words: 28569 - Pages: 115
R.S. Beavis) Paying Guests Profile of the Hotel and Catering Industry (with D.W. Airey) Tourism and Hospitality in the 21st Century (with A. Lockwood eds) Tourism and Productivity Tourism Council of the South Pacific Corporate Plan Tourism Employment in Wales Tourism: Past, Present and Future (with A.J. Burkart) Trends in Tourism: World Experience and England’s Prospects Trends in World Tourism Understanding Tourism Your Manpower (with J. Denton) Dictionary of Travel, Tourism and Hospitality
Words: 133754 - Pages: 536
THE TRAVEL AGENCY SERVICE INDUSTRY: INDUSTRY TRENDS AND PRACTICES Sue Bergin-Seers1 , Barry O’Mahony2 and Regina Quiazon3 Introduction The need for this scoping study was identified by the Australian Federation of Travel Agents (AFTA). A current overview of the industry, including the changing trends of travellers, was required by the organisation, with a specific request to source existing available data with regard to industry trends for travellers in seeking, booking and purchasing travel
Words: 7483 - Pages: 30
Company THEORY OF THE FIRM: MANAGERIAL BEHAVIOR, AGENCY COSTS AND OWNERSHIP STRUCTURE Michael C. JENSEN and William H. MECKLING* University of Rochester, Rochester, NY 14627, U.S.A. Received January 1976, revised version received July 1976 This paper integrates elements from the theory of agency. the theory of property rights and the theory of finance to develop a theory of the ownership structure of the firm. We define the concept of agency costs, show its relationship to the ‘separation
Words: 27266 - Pages: 110
Constitutionalist Platform The following principles should be considered planks in the platform of any candidate who calls himself or herself a "constitutionalist": 1. The rights recognized in the Bill of Rights are rights that precede the Constitution, apply to all persons everywhere and all times, and considered as restrictions on the actions of government officials or agents, apply to all officials or agents at all levels of government, federal, state, and local, and even to the treatment
Words: 3169 - Pages: 13
REPUBLIC OF THE PHILIPPINES DEP ARTMENT OF BUDGET AND MANAGEMENT MALACANANG, MANILA I BUDGET CIRCULAR TO ~ No. 2014 - 3 December 2,2014 Heads of Departments, Bureaus, Offices, and Agencies of the National Government, Including State Universities and (SUCs), Government-Owned or -Controlled Colleges Corporations (GOCCS)i Heads of Local Government Units (LGUS)i and All Others Concerned Guidelines on the Grant of the Productivity Enhancement Incentive (PEl) to Government Employees
Words: 1690 - Pages: 7
Journal of Macromarketing http://jmk.sagepub.com/ Market Responsiveness to Societal Interests Tracy L. Gonzalez-Padron and Robert W. Nason Journal of Macromarketing 2009 29: 392 DOI: 10.1177/0276146709344954 The online version of this article can be found at: http://jmk.sagepub.com/content/29/4/392 Published by: http://www.sagepublications.com On behalf of: Macromarketing Society Additional services and information for Journal of Macromarketing can be found at: Email Alerts: http://jmk
Words: 11381 - Pages: 46
