International Trade Management Lecture Notes Essay

International Trade Management Lecture 1 Juney Notes Globalisation Debate Lecture Objectives: 1. Globalisation Trends (Have choices, Cheaper) 1.1 Globalisation 1.2 Trends 1.3 To operate abroad, consider†¦ 2. Anti-globalisation (When you are anti-smth, there would be forms of barriers) 3. Trade barriers – government intervention in international trade 3.1 Free trade 3.2 Trade Barriers 3.3 Why Government Intervene in International Trade 3.3.1 Political Arguments 3.3.2 Economic Arguments 3.4 Instruments of Trade Policy 3.4.1 Tariffs 3.4.2 Subsidies 3.4.3 Import quotas 3.4.4 Voluntary export restraints 3.4.5 Local content requirements 3.4.6 Antidumping policies 3.4.7 Administrative policies 3.5 Government intervention impact business strategy by†¦ 4. Free Trade Agreement 5. Trade blocs 1. Globalisation Trends (Have choices, Cheaper) 1.1 Globalisation 1.1.1 Globalisation of Markets 1.1.2 Globalisation of Production 1.2 Trends 1.2.1 Outsourcing 1.2.2 Offshoring 1.3 To operate abroad, consider†¦ 1. Globalisation Trends 1.1 Globalisation 1. Definition: The shift towards a more integrated and interdependent world economy. 1.1.1 Globalisation of Markets 1. The merging of historically distinct and separate national markets into one hugeShow MoreRelatedBUSN115 Final Exam Study Guide1656 Words   |  7 Pages37-38; week 1 lecture pg 5 Be able to define, differentiate and provide examples of a free market, command and mixed economy. pg 42-44 2-6 thru 2-9 Define and discuss the fiscal and monetary policy role of the federal government and its respective agencies. pg. 49, 51; week 1 lecture pg 5 List and define the foundations of capitalism. pg. 35 2-5 Apply the â€Å"Invisible Hand† to a market economy. pg 33-34 Explain productivity and its relationship to international trade. Week 1 lecture pg 4; pg seeRead More Human Resource Management Essay example1709 Words   |  7 PagesThe Employment relationship is the only reason public and private limited organisations work effectively. The Employment relationship is a fragile tie between an employer â€Å"management† and employee â€Å"worker†. This relationship can be affected by 3 factors which are interests, control and motivation. Employers have to balance these factors in order to maintain a productive working relationship. Employment relationship works like any other relationship, commitment is required from both sides. InRead MoreIntb 3355 Final Review893 Words   |  4 Pagesreligious nonbelievers. Situations – Kidnapping for ransom, Paying ransom becomes counterproductive, Countermeasures by industry, Chemical and biological terrorism, Kidnapping as a means of funding terrorist groups, Business executives (local and international) as targets, Insurance, Prevention c) Property seizure - Confiscation - Expropriation - Nationalization – Reasons- To extract money if government suspects hidden profits, Profitability- the government believes it can run the firms more efficientlyRead MoreInternational Business Environment6667 Words   |  27 PagesModule specification INTERNATIONAL BUSINESS ENVIRONMENT Code: PGBM04 Credits: 15 Level: Masters FBL, Business School Board: Postgraduate Business Studies Learning Hours: 150 of which 30 CONTACT hours Rationale 1. The international business environment is multi-dimensional, including economic, political, socio-cultural and technological influences. While each can be viewed in specific national settings, increasingly they have become interrelated through processes of globalisation. In particularRead MoreFaculty of Law and Management: International Marketing10010 Words   |  41 PagesFaculty of Law and Management School of Business Faculty of Law and Management School of Management International Marketing MKT3IMK Subject Learning Guide 2011 Andrew Gilmore Contents 1.0 Subject information at a glance 3 2.0 Subject description 4 3.0 Learning and assessment 4 3.1 Learning objectives 4 3.2 Assessing the learning objectives 4 3.3 Assessment tasks 5 3.3.1 Overview 5 3.3.2 Case Study 6 3.3.3 Final eamination 6 3.3.4 Group assignment 6 3.4 AssessmentRead MoreDetermining The Efficient Tool For Business Process Management1536 Words   |  7 PagesDeciding the Efficient Tool for Business Process Management in Organizations Using Analytical Hierarchical Process Sravani Vadali Engineering Management University of Houston – Clear Lakeâ€Æ' Introduction to Business Process Management Business process management (BPM) is a management approach to make an enterprise’s activities and tasks to be more accurate, more competent and more efficient in adapting to the ever-changing needs of business. BPM is a far-reaching merging of Business Process ReengineeringRead MoreInternational Finance Lecture Notes 1-145897 Words   |  24 PagesLecture 1 – Multinational Financial Management: An Overview Review goals of multinational corporations (MNCs) and conflicts with those goals. Describe the key theories that justify international business. To explain the common methods used to conduct international business. Multinational Corporations Goal of the MNC – maximize shareholder wealth Conflicts against this goal Agency problems – managers act in their own interestRead MoreUk From Mercantilism Free Market Ideas1561 Words   |  7 Pagesnavigation acts where he outlined cases where government intervention in trade was useful (Phillipson, 2010). Adam Smith was not opposed to regulation in all, but the instances where individuals and governments were able to abuse their position of personal for the means of personal gain. Now, the measures in order to boost the economic activity and reduce unemployment were not successful as concerns extra imports, thus worsening the trade balancing and seemed to lead to big rises in inflation (Downs, 1957)Read MoreThe Supply Chain’s Significance in Developing an Operations Strategy:1222 Words   |  5 Pagesaddress the needs of critical customers. (Operations and Supply Chain Strategy, 2009). A supply chain consists of multiple organizations linked together in a partnership and their overall goal is to satisfy the needs of the end customer. As the lecture notes (n.d.) points out, operations manage the activities of the entire supply chain from start to end. Because of the operations managements nature of spanning across the functional level and being integrative, it is involved in many other strategicRead MoreIso 9000 Standard2266 Words   |  10 PagesFIT 5157 Services Science - Lecture Notes - ISO 9000 Standards ISO 9000 Standards Browse the web sites: http://www.iso.org/iso/home.htm http://www.ansi.org/ http://www.bsi-global.com/ There are three types of quality standards: 1 Product standards. These set safety and functionality requirements for products. 2 Quality Control standards. These lay out the statistical techniques which can be used to make inferences about the proportion of defective products and so on. 3 Quality Assurance standards

The Future Of Disease And The Human Genome Essay - 1125 Words

Recently there has been much uncertainty regarding the future of disease and the human genome. Amongst the multitude of uncertainties and advancements Clustered Regularly Interspaced Short Palindromic Repeats, henceforth known as CRISPR, has been at the forefront. Though discovered in â€Å"in the 1980s in E. coli† confirmation purpose of this shining new advancement has caught the eye of scholars and laymen alike (Reis, Hornblower, Robb, Tzertzinis 2014). As, since its discovery, it has shown the promise of completely changing the way that we think about DNA. This is because CRISPR can be an easy and relatively inexpensive way to edit parts of living cells. More specifically, it has the potential to be a way of editing away undesirable part of the human genome with then end goal of one leading scientist in the field being â€Å"to treat diseases in humans† (Park 2016). The original intent of the developers many have been benevolent targeted editing of genomic anomali es, the implications and possibilities of future use has made both those within the science community and laymen very concerned. The molecule which we know as CRISPR was discovered in initially found in a species of E. coli. But since it’s identification scientists have found the molecule in some 90% of archaea and most bacteria (Horvath and Barrangou 2010). In the microbes that it is found, CRISPR has a more specific purpose than gene modification. CRISPR, and the associated genes are part essential of protection andShow MoreRelatedNews And Bioethics: The Ethics Of Human Genome Editing.989 Words   |  4 PagesNews and Bioethics: The Ethics of Human Genome Editing Technology and science have changed the way society views the future. Reproductive technology, bio-medical technology, and even simple household appliances have changed how people live, think, and interact. According to Science Daily, scientists are researching another technological advancement to look forward to in the future, human genome editing. Human genome editing is a form of genome therapy. Genome Therapy refers to the removal of faultyRead MoreTechnology And Science Have Changed The Way Society Views981 Words   |  4 Pageschanged the way society views the future. Reproductive technology, bio-medical technology, and even simple household appliances have changed how people live, think, and interact. According to Science Daily, scientists are researching another technological advancement to look forward to in the future, human genome editing. Human genome editing is a form of genome therapy. Genome Therapy refers to the removal of faulty genes or adding new genes to cure or prevent disease (Placeholder1). This news articleRead MoreAn Explanation Of The Scientific Importance Of Human Genome Project1239 Words   |  5 PagesScientific Importance of the Human Genome Project The human genome project is an international effort that serves as a possible solution to the many diseases that affect billions of people worldwide. This project is a great milestone in the field of genetics as it allows scientists to determine the sequence of genes in chromosomes which will show where disease causing mutations are occurring and what can be done to reverse it. Looking back in time, many of the diseases which could be cured were doneRead MoreThe Human Genome Project?1023 Words   |  5 Pages The Human Genome Project Today we are learning the language in which God created life . . . humankind is on the verge of gaining immense new power to heal. Genome science will have a real impact on all our lives, and even more on the lives of our children. It will revolutionise the diagnosis, prevention, and treatment of most, if not all, human diseases. - Bill Clinton, June 2002. The Human Genome Project came into existence in the late 1980 sRead MoreQuestions On Human Genome Project1470 Words   |  6 Pages Layan Kojan BIOL 1010 Assignment #3 - Option 2 The Human Genome Project Tuesday November 17, 2015 What makes one person differ from the other? Is it physical appearance, personality or mentality? These three factors separate each individual from one another and it is what makes them different. Physical appearance, personality and mentality are made up from the same building blocks which are known as DNA sequences. DNA (deoxyribonucleic acid), is a self replicatingRead More##ome-Wide Association Studies : The Human Genome Model For Disease786 Words   |  4 PagesGenome-Wide Association Studies Genome-wide association studies (GWAS) are often correlated with personalized medicine. GWAS studies often involve sequencing the entire genome of patients suffering from a specific disease, to look for shared mutations within their genomes (Bush et al., 2012, p.1). These shared mutations are then investigated to assure their direct correlation with the disease, in which this mutation can be used to diagnose future patients by identifying the same mutation in theirRead MoreWhat Is The Human Genome Project?1619 Words   |  6 PagesThe Human Genome Project? Imagine a world where most diseases and cancers have either been cured or have treatments to help people with them. Where there is no longer a regular doctors check up and now they would now take a look at what’s inside you. Where doctors will now look at the genes in your genome and find the problem in there. After they find the spot where there is something wrong, they would easily know what it is and give you a diagnosis and a treatment. Due to the Human Genome ProjectRead MoreThe Human Genome Is Not Just A Black And White Decision Essay1598 Words   |  7 Pagesthe human genome is a topic that has been discussed for several decades, but just recently it is becoming a reality. Through many advancements of technology, the CRISPR method has emerged, and it is providing the opportunity for genetically modifying the human genome to take off. However, allowing the use of the CRISPR method is not just a black and white decision. Modifying the human genome is a hot debate in the science and medical fields todays. Arguments in support of modifying the human genomeRead MoreThe Human Genome Project Is An Incredible Feat871 Words   |  4 PagesThe human genome project is an incredible feat. The significance and contributions of the project to the science world has and will have a significant impact of the way we treat, diagnosis, and prepare for diseases if an individual knows they have a predisposition to it. There are two significant contributions that I believe has been very beneficial to the health field. The first is recording and storing all the new found information on genomics into one database. More importantly though is havingRead MoreThe Human Genome Project Essay1006 Words   |  5 PagesThe Human Genome Project â€Å"The Human Genome Project (HGP) was the largest biological investigation ever undertaken†[1] which began in 1990 and spanned 13 years. It achieved its goal in 2003 by identifying the sequence of over 3 billion base pairs which constitute the human genome (the complete genetic material of an organism). The project was heralded by the research conducted in 1953 by the scientists Watson and Crick who discovered that DNA existed as a double helical

Essay On The American Dream - 1328 Words

Growing up in a Latino family introduced me to the past of my parents and grandparents. It wasn t easy. Education was important, but living under a roof, having clothing to put upon them, and having a meal to eat every day was too. Unfortunately, my grandparents nor my parents could obtain a diploma or degree. They were obligated to work hard every day to be able to help support the family in order to meet their personal needs. But of course, as many other families in America did and still do, they had a dream. The American Dream. Which was to come to America for a better life and provide a better future for their family and the future generations of the family. And I am proud to say that they accomplished that American dream.†¦show more content†¦That there would be difficult moments where I would have to work my way up and work hard for the things that I wanted to accomplish. They always encouraged me to keep moving forward with new dreams to accomplish one after another. My parents did all this because they wanted a better future for me than the future that they had for themselves at first. I say at first because today my parents have proved to me that anything is possible. My father might not have completed school but he is exceptionally intelligent as a business agent, including being the best of the best in his own job. And my mother, what can I not say about her. She proved to me that it is never too late to accomplish your dreams by going to college and obtaining her G. E. D., and knowing her she will most likely continue to a degree. Seeing all the things that they can accomplish makes me proud to be their daughter because they bring me hope. Them having lofty standards for me, allowed me to keep working harder for my dreams and even setting high standards for myself. A 70% on my report cards or even progress reports were not permitted by my parents at all. And if they did appear, I had better be prepared for the big trouble that I was going to be in. As a child, I didn t really understand what all the fuss was about. But then I realized, the reason why my parents insisted on me having such high grades as I do now was that they were lookingShow MoreRelatedEssay On The American Dream1004 Words   |  5 PagesThe American Dream: Is it Only a Dream? From the moment colonists stepped foot on American soil, freedom flowed through their skin. The new country would bring endless opprotunities to anyone who wished to pursue their dreams. Through years of effort, the United States was born and along with it a sense of equality and meaning. Today, America has much to stand for. Although times were rough along the way, the American dream is one of being free and having a voice. America has proven itself to beRead MoreAmerican Dream Essay3358 Words   |  14 PagesTHE AMERICAN DREAM THE AMERICAN DREAM Section #1 a. The impact cultures in North America have on the United States is that each region adapted the traditions and/or beliefs of those who settled in that area by maintaining dance, music, and crafts. Many English settlers did not respect the Native American cultures, and were seen as uncivilized and/or savages. Basically there was a clash of cultures, with new ideas pushing away old ways and mayor cultures oppressing others. b. ImmigrationRead MoreThe American Dream Essay755 Words   |  4 PagesA great dream, The American Dream. Or is it? Is my American Dream the same as your American Dream? Does it help? Or is it harmful? Do you know? â€Å"To achieve wealth, status, business, family, house, and (a) car(s).† That is the modern american dream. That’s is quite different compared to the original American Dream, â€Å"Every person has the opportunity to achieve their own idea of happiness.† Which version is your version? Or maybe your version is different. Have you thought about what different versionsRead MoreEssay on The American Dream1459 Words   |  6 PagesThe American Dream in Death of a Salesman, The Great Gatsby, and Maggie: A Girl of the Streets Millions of immigrants come to America each year to seek their American Dream. Many people believe that rising social mobility and success is possibleRead MoreEssay On The American Dream1456 Words   |  6 Pagesorder for them to come to the United States and pursue the American Dream. The American Dream has a different meaning for everyone. Many people might think of the American Dream as being able to get a job in order for them to be able to help their family members who they left back in their native country, while for others t he American Dream will be to be able to purchase their first home in the United States, while for others the American Dream might be to have a good job in order for them to pay forRead MoreAmerican Dream Essay992 Words   |  4 Pagesdifferent issues as they settle in the United States. Although these problems may vary, the message is the same; the American dream is a lot more difficult to achieve than previously thought. Although every immigrant is different in the problems they face while in the country, one problem seems to stand out from the rest. The biggest obstacle for immigrants to overcome to achieve the American dream is in the field of jobs. The biggest problem immigrants face is finding work in which they can support themselvesRead MoreThe American Dream Essay1480 Words   |  6 PagesThe American Dream is a concept that has circulated around the world and has caused people from other countries, and those who live in America, to come to our nation and take advantage of the opportunities in place to better their lives. The definition of the American Dream, provided by James Truslow Adams in his book The Epic of America (1931), is â€Å"a land in which life should be better and richer and fuller for everyone, with opportunity for each according to ability or achievement†¦It is not a dreamRead MoreThe American Dream Essay819 Words   |  4 PagesGrowing up, I always thought the â€Å"American Dream† was having a nice suburban house with a husband, a few kids, and a golden retriever. I think of people within the Middle Class had it pretty good because of the nice house and adorable, tightknit family. The drea m has never really changed, and I don’t think what my imagination of it ever will. Something else I think of when thinking about the â€Å"American Dream,† I immediately think about is all the people that come to the United States from all overRead MoreThe American Dream Essay799 Words   |  4 PagesWhat is the American Dream? In America, numerous cultures and ethnic backgrounds are present. The American Dream is a subjective phrase, with different meanings for different people. The novels Into the Wild by Jon Krakauer, The Bean Trees by Barbara Kingsolver, and I Know Why the Caged Bird Sings by Maya Angelou, portray different definitions of the American Dream. In theory, the American Dream is the thought that through hard work, anyone can achieve their goals in this country. In Into the WildRead MoreEssay On The American Dream936 Words   |  4 Pagespersecution. Starting with the European settlements in the 1600s and many waves of diverse groups of people migrated after thus creating this ideology known as the America Dream which encompasses the opportunity at a better life and growth in all aspects political, economic religious etc. But at what cost what is often forgot is the American nightmare which is included the perverse and horrifying accounts of colonialism, diaspora and slavery. Slaves were not migrants they did not come here on their own

The Rise Of Technological Advancement - 853 Words

The past 20 years have undeniably been witness to continuously, and unabated change in many aspects of our individual lives. One of the major changes that I believe has encouraged our wakefulness is the rise in technological advancement. Our textbook explains how the light bulb is at fault for our decreasing sleep time, and now things such as the Internet, cable TV, and cell phones seem to be keeping us awake at night. I certainly have found myself surfing the internet, watching television, or scrolling down my apps on my cellphone â€Å"for one more minute† right before I go to sleep, far too many times to count. All of these unhealthy before bedtime rituals involve light, a deterrent of our much-needed slumber. In terms of societal changes, I always seem to relate 20 years ago to â€Å"simpler times,† maybe because I was only a child then, but comparing it to today everything seems to go at a much faster speed now, almost as if there isn’t enough hours in the day to accomplish our â€Å"to- do list† which is why we have leaned towards decreasing our sleep time in order to get more accomplished. 20 years ago we did not have all of this technology flooding our everyday lives, people did not care about posting to Facebook or catching up on a reality show you have to watch all 12 episodes in one sitting, or text messaging every waking moment of our day. 20 years ago the day consisted of going to work in order to provide for the family, getting home in time for dinner, and tucking yourselfShow MoreRelatedToday s Relationship Of Education And Economy880 Words   |  4 Pagesknowledge.† One of the most fundamental building blocks of technological advancements in today’s society is the dependence on education. Creative Destruction, in simpler terms, is the persistent renewal of technology that constantly supersedes the previous forerunner. Many universities play a major role in research and innovation of all areas of study , one notably being technology. It is evident from this that technological advancements are derived directly from educational institutions, which permeatesRead MoreMicrosoft : The Rise Of Technological Development1607 Words   |  7 PagesMicrosoft on the Rise In the technological industry, significant advances are often the results of sequential evolutionary steps. For example, in 1997, the company of Microsoft rose to power and became the world s most influential company, valued at 261 billion dollars. This happened because Microsoft offered something that society was missing: personal computing (a new approach in technological advancement). Microsoft allows the expansion of new horizons and the ability to bring about changeRead MoreImpact Of Globalization On Income Distribution1525 Words   |  7 Pages2007). With the growth of transport and communication networks possible, individuals and businesses can exchange goods, services and information at a rate which us humans would have considered impossible 50 years ago. From improvements in the economy, rise in emerging markets and dramatic growth in technology, businesses have little or no choice but to adapt to the dynamics of globalisation and design strategies that compliment the compl iance structure of current market trends and institutional conditionsRead MoreThe Medieval Machine : The Industrial Revolution Of The Middle Ages1377 Words   |  6 Pageshas a certain connotation to its meaning. People throughout time have found the era synonymous with negativity. It has often been referenced to as the middle or dark ages lending people the view of a world with little to no progress along human advancement. We often paint the picture of medieval Europe with kings, queens, lords and peasants. We also immediately thing of the bubonic plague that wiped out almost a third of the European population at the time. However, there are three sides to everyRead Moretechnology and the workforce Essay837 Words   |  4 Pagesnecessary training for potential employees to be able to embrace technological changes. Vocational training also provides potential employees with the tools needed to survive the technological changes. It is important to note that some people are not able to pursue the continued education necessary to work in an industry where technological changes are rapid. We should not hold back technology to protect the unskilled workforce. Technological advances allow for companies to do and make goods better andRead MoreChanges And Advancements Of Human Resources884 Words   |  4 PagesThere have been many changes and advancements in Human Resources (HR) since companies started implementing HR practices and procedures, officially into their business organizational structure. Some may recall a time when the Human Resource department was simply called Personnel. As with every aspect of business, technology has become an integral and ever changing part of the HR department. It now affects how companies recruit for open positions in their company and even how applicants apply forRead MoreIf There Is Technological Advance Without Social Advance, There Is, Almost Automatically, an Increase in Human Misery.874 Words   |  4 PagesOver the pa st century technology has advanced greatly without a doubt. The three main advancements in technology has improved mechanics, weapons and science in the nature of research and techniques used within the NHS today. From these given examples, the advantages are obvious. It increases the speed capacity of day to day life and it allows the human race to have the freedom of choice against nature. However, the human misery caused behind these examples include, the causation of human lazinessRead MoreGdp Essay1648 Words   |  7 Pagesconstant, and 1-ÃŽ ± and ÃŽ ± are constants between 0 and  1 that together add up to 1. This can also be seen in the Solow Model and the Romer Model, where the different variables can be changed based on changes in amount of labor, capital, and ideas (technological advancements). Donald Trump’s claim to deliver 3% annual GDP growth is not reasonable due to many of the different underlying factors that are necessary to lead to growth that are not occ urring. By studying the state of the nation under Trump and lookingRead MoreThe Impact Of Technology On The Recording Studios1235 Words   |  5 PagesThe advancements of technology have impacted the recording studios more dramatically than any other career within the music industry. Thus the necessity to adapt to these changes is vital for any individual working in this field. However, these advancements have also made the technology of professional recording studios more accessible and subsequently caused the rise of home recording studios. The advancements of technology have impacted the recording studios more dramatically than any other careerRead MoreHow Technology Is Inevitable?1141 Words   |  5 Pages The fact that new technological innovations are being created on a daily basis is not a surprising bit of information. And, for most of us, neither is the â€Å"anxiety about ubiquitous surveillance† (Hunt) that accompanies it. We have our privacy invaded nearly every single day, ranging from having our telephone conversations tapped into to being constantly watched by every surveillance camera in a major retail store. One of the newest wonders in technology is the Google Glass—an interesting pair of

Developing Good Business Sense Free Essays

Choose three companies and observe how employees do their tasks. These can be three different fast-food restaurants or three entirely different types of companies, such as a fast-food restaurant, a department store, or the emergency room of a hospital. In doing this research paper I was able to observe businesses in three different fields. We will write a custom essay sample on Developing Good Business Sense or any similar topic only for you Order Now I observed an Electronics Store where the employees were paid on commission, a clothing store that paid their employees an hourly salary and a shipping company that paid its employees an hourly salary. While visiting the electronics store that paid their employees a commission salary based on their sales, I noticed that the employees were extremely polite and helpful. I was greeted by a lady as soon as I walked in the building. She welcomed me by informing me that they were happy to have me in and they were readily available to assist me with any questions I had. I also noticed that the employees in this company were very knowledgeable and took pride in their appearance as well as the appearance of their store. They were also very aggressive in their efforts to convince me to buy something. The second establishment I observed was a clothing store that paid their employees an hourly salary. While in this store I noticed that the staff was not as strong with the level of their customer service. They had a greeter at the door that was responsible for greeting customers as they entered the building. The store had a more laid back atmosphere to it and the employees were more focused on folding clothes and packing the shelves instead of assisting the customers and providing customer service. The third business that I established was a shipping company that pays its employees an hourly salary. The employees in this business were focused on providing excellent customer service while processing transactions in a speedy manner. The employee that greeted me was very polite but she was also trying to service me in a speedy manner so she could move on to the customer waiting in line. I was pleased with her service because she remained polite and she was very knowledgeable which made it easy for her to answer all my questions. Think about the differences in the operations involved in the input, operations, and output stages of these companies. Try to identify the nature of their operating systems. Are employees organized in different ways? If so, why? If possible, talk to the managers and employees in these operations to further your analysis. Based on my observations of the three businesses I used for this research paper I was able to generate three different theories about their operations and how their employees are organized. The electronics store that pays their employees a commission salary has a specific culture that is determined by their pay structure. After speaking to the store manager I discovered that the company strives to create an incentive based culture where employees are rewarded based on their sales. The company uses these sales incentives to motivate their staff in every manner for example. After an employee is hired they are taught that their sales and commission are directly affected by their knowledge level, their level of customer service and the look and appearance of their store among other things. The company informs the employees that they can make more money by being knowledgeable and focusing on customer service because knowledge and customer service builds credibility and trust with customers which leads to customer loyalty and repeat business. They are also taught that the appearance of their store directly impacts the customer and their commission because if the store looks good, the customers will be comfortable and more likely to buy (Smith, 2010). After observing the employees and speaking to supervisors in the clothing store with the hourly employees I found out that the company focuses on motivating the staff through consistent recognition and high accountable. When an employee is hired, the managers discuss the company policies and standards while setting expectations with the employee. The manager then spends a majority of their time teaching the employees how to work effectively. After training the employees, the managers put themselves in positions to observe the staff members so they are able to provide feedback. They make every effort to catch the good behaviors so they can provide recognition and boost the employee’s morale but they are also willing to provide developmental feedback when necessary. The manager informed me that this approach works for their company because it creates a fun and positive environment and the employees know they will always be treated fairly (Thomas, 2010). The shipping company had a completely different manner of operation because of the business they were in. The manager informed me that their company is more focused on working fast and efficient. The company’s goal is to deliver packages before deadlines and they train their employees to execute all their operations in the same manner. The company gives the employees goals and deadlines for every aspect of their job. For example, they have a specific time that they have to report to work, stock the delivery truck, inspect the truck and deliver packages. The company makes everything time bound and the employees are expected to do as much as they can with as little as possible (Holmes, 2010). How to cite Developing Good Business Sense, Essay examples Developing Good Business Sense Free Essays Developing Good Business Sense Axia College of University of Phoenix BUS 210 Developing Good Business Sense June 29, 2008 The three companies I selected for this assignment are McDonalds, Bose Corporation and Motorola. From the reading I was able to determine the employee’s organizational structure within this company’s by which they complete their jobs. I will review and outline the main kinds of Operations and Materials Management (OMM) processes these companies use, and how it affects their operations. We will write a custom essay sample on Developing Good Business Sense or any similar topic only for you Order Now Also, I will discuss how companies design their operating systems to give them a competitive advantage. I will identify which components of operations and materials management costs and the methods companies use to reduce them. McDonald’s is a highly successful and well recognized brand leader of fast food restaurants located around the world. They sell hamburgers and french fries as their primary products, and they work with many different food suppliers such as hamburger bun manufacturers, beef producers, produce suppliers and many others, to ensure their foods are as fresh as possible. McDonald’s sells franchise rights to local owner/operators which allow them to keep costs low and avoid high capital and plant investment costs. Since a great deal of McDonald’s service is reliant on delivering customer’s food fresh, McDonald’s use the Just in Time (JIT) inventory management system. This system reviews stock inventory levels available against product usage, and arranges delivery and restocking to the restaurants just as inventory items are needed. This allows inventory to be kept to a minimum in each franchise location. Foods for the restaurants are not warehoused for days or weeks, and are efficiently managed under this system so they are used quickly and, freshness is guaranteed. Each franchise owner keeps labor costs down by managing store staff schedules against the peak customer periods when the restaurant gets busy. Another technique McDonald’s uses to keep distribution costs low, is to have soft drink company’s ship only the soda syrup mix needed for each brand, which is then mixed with carbonated water at the soda fountain in the store. McDonalds has also begun to employ the use of robotics to complete routine, repetitive tasks such as filling soda orders for the drive through window and dumping fries into the fry maker, as a means of making their food quicker and less expensively. Over time the return on investment for these developments will pay off greatly in saved labor costs. Of course, the most important element in any McDonald’s restaurants is that employees must be organized and communicate effectively. Wasted food equates to wasted money and if a special order is needed, staff must talk to each other to make sure it is done right the first time. By working together as a team the cooks, preparation staff, and cashiers help to keeps the orders organized and production is kept high. The Bose Corporation is a world renowned manufacturer of high-fidelity speakers and audio equipment. The company’s ability to meet customer demand for their products is dependant on the supply chain and availability of components needed to complete customer orders. The company uses a supply chain network that is spread across the globe, with their primary source of over 50% of purchased components coming from the Far East. Logistics managers within the company bear the responsibility of moving the vast amounts of equipment into production, based on a real-time inventory management system called â€Å"ProterLink†. This system is able to locate supplies that are needed anywhere in the shipping chain, and divert them if necessary to meet an accelerated production schedule if necessary. This operational system gives Bose the advantage of meeting large customer’s orders without missing a beat. Transportation costs associated with material movement and management from suppliers to their Bose’ production facility would be a key cost consideration for the company. If supplies needed to fill orders are transported efficiently and are timed to correspond to production schedules, costs would be lower because unnecessary components would not take valuable inventory space away from items that are in need to complete orders, thereby maximizing production effectiveness. Motorola, a global communications leader, is using a unique forward thinking production plan to bring their services and products to market. In their self-named, â€Å"factory of the future†, custom made communication devices can be produced very quickly for customers, giving Motorola a competitive advantage. The process starts with sales person who receives the order and inputs all of the customer’s customization preferences. This information is provided as a barcode and relayed to the production facility, which uses automation technology (robots) to produce the phone in accordance with the customer’s wishes. Using robots gives Motorola a competitive advantage because they are able to mass produce large volumes of customized phones, with only a two-hour turnaround window. The universal operational strategy in any business is to meet the goal of customer satisfaction. The company’s reviewed accomplish that goal through improving quality and efficiency, and ultimately reducing costs. [pic] How to cite Developing Good Business Sense, Papers Developing Good Business Sense Free Essays Developing Good Business Sense Jennifer Lapaix BUS/210 February 28, 2010 Joanna Gierak The most over looked functions in any successful company is the Operations and Materials Management, commonly referred to as OMM activities. Operations are the functions or services that convert the input to a company into finished products and services. Materials management is the process that resources into and out of the operating system. We will write a custom essay sample on Developing Good Business Sense or any similar topic only for you Order Now To develop a good business sense you must understand how operations and materials management differ in various types of companies. The three companies I have chosen to examine are part of different industries, but Microsoft, In-N-Out Burger, and Dillard’s all share the success of a good business sense. Microsoft’s employees are selectively chosen and are programmed with prior advanced knowledge of software creation. They are expected to be pioneering and proficient with the software they create. Microsoft strives to bring user-friendly and efficient software to its customers and can only do so with employees who are team-oriented and motivated to challenge the competition (Microsoft, 2010). Microsoft’s operating system is complex but revolves around a simple idea of staying ahead of the curve in software production. The company maintains a high competitive edge over competition by supplying operating systems to almost all PC’s. The company has also branched into game console sales and will soon open individual retail locations. The downside to monopolizing the software industry and driving out competition due to incompatibility with other providers is the amount of capital spent on lawsuits and government fines. Microsoft’s reputation in the computer world may be tarnished by overly competitive operating system (Microsoft, 2010). Microsoft’s OMM costs include high salaries due to the very advanced and experienced nature of their employees. Employees are teamed and given specific goals to reach. With a challenging, but loosely controlled atmosphere, Microsoft gives its employees the room and materials to create groundbreaking software at a calm but rapid pace. Other, less expensive costs might include suppliers for equipment. Because so much of our technological items are imported, Microsoft can instead place production costs into advertising and distribution. E-commerce has further lowered the cost of distribution for Microsoft, who can now sell full operating systems and software over the Internet without the need for packaging expenses (Microsoft, 2010). In-N-Out Burger, established in 1948, is a fast-food hamburger and fries restaurant that specializes in personalized and extremely efficient service. The business philosophy is simple: â€Å"Give customers the freshest, highest quality foods you can buy and provide them with friendly service in a sparkling clean environment. † (In-N-Out History, 2010, para. 2) Employees of In-N-Out Burger can be trained from scratch, are energetic, customer service oriented, and expected to deliver high quality food. Employees are polite and friendly at all times and maintain a clean environment in the entire restaurant thus following in the founder’s business philosophy. The nature of In-N-Out Burger’s operating system is one of quality, since its inception in 1948 the menu and recipes have not changed. While other fast food restaurants use processed food or frozen food, In-N-Out Burger makes everything the old fashioned way. Also, another signature key to all In-N-Out stores is windows all around showing employees cutting vegetables for the burgers and potatoes for the fries right in front of the customers. In-N-Out’s menu only consists of burgers and fries, nothing more because the quality is so fresh and good that customers come back time and time again keeping the stores packed all day long. In-N-Out Burger’s OMM costs include mostly food and salary. Employees at In-N-Out burger, unlike other fast food chains, have a low churn rate and are paid above the industry average with full benefit packages. Employees are extremely team-oriented. As opposed to working in smaller groups, all employees on the clock are considered one team, relying on one another to eet In-N-out Burger’s reputation for rapid service and correct, quality orders. By using this type of one-mind employee organization, the restaurant runs smoothly and more efficiently from all angles even when in a small, enclosed environment. The training systems used are vigorous and motivational with a substantial amount of time and attention given to newly hired individuals. Since all branches are franchised, advertising expenses are much lower and help a franchisee to build his or her branch without becoming overwhelmed (In-N-Out Burger, 2010). Dillard’s, one of the leading high-end retail chains in the nation, specializes in exemplary customer service and brand name clothing. Dillard’s employees are extremely professional and sales-oriented. They are expected to dress cleanly and attractively to further the reputation of the company. Service at Dillard’s is top of the line and employees must be knowledgeable in their area. They must have a friendly, but not overpowering demeanor (Dillard’s, 2010). Dillard’s functions with an operating system designed for high-end customer service and fashion. Their success and reputation since 1938 has given them a competitive edge over newer high-end retail outlets. With a history of intelligently acquisitions, Dillard’s has expanded its presence across the United States rapidly. Catalogue sales and credit card options have also furthered the company’s competitive edge (Dillard’s, 2010). The OMM costs of Dillard’s are almost exclusively inventory costs and salaries. Though their clothing is marked up for consumers and can be purchased at low mass costs, such large quantities of clothing still amount for a good portion of spending. Employees at Dillard’s are given higher than average pay and extremely competitive benefits. Many of the employees are sales-driven with high commissions available to the best sales-people. The company prefers to hire individuals who have past retail or sales experience, and a flair for professional style. Similar to Microsoft, Dillard’s has also benefited in lower distribution costs due to E-commerce (Dillard’s, 2010). Employees are the backbone of these successful business and their operating systems are very dependant and focused on them. Even though they are yet again similar, these companies have very different ways of organizing their employees to improve profit and reputation. Because of the dramatic difference in industries and services offered, these companies have varying operating and materials management (OMM) costs. Costs such as those mentioned above effect a company’s overall profit. In order to deflate the OMM costs, companies like Microsoft, who are spending large percentages of capital on salary and benefits, may look to lowering production and distribution costs. Since software is easily downloaded from the Internet, Microsoft drives Internet sales to avoid packaging and delivery of their software. Other ways that Microsoft has cut down on employee expenses is outsourcing. Technical support is handled by cheap labor in other countries while software creators, who are highly paid and demanded, remain in the United States. Customer service may decline due to language barriers. The weight between savings and reputation must be carefully weighed in order to sustain a semblance of service with the customer base (Microsoft, 2010). In-N-out Burger cuts costs by using distribution centers that are nearby and even sometimes in the same city. By not purchasing foods that too far away, In-N-out Burger is able to hold a standard of quality food for customers but also can keep food fresh longer, reducing the amount of spoiled surplus and dissatisfied customers (In-N-Out burger, 2010). Dillard’s may cut OMM expenditures by under-ordering clothing. The high-end nature of the business means that sales can be slow and therefore clothing must be sold, once out of season, to other retailers at lower costs. Although selling the clothes gets back a portion of the initial costs, selling at the mark-up price is more advantageous (Dillard’s, 2010). References In-N-Out Burger. (2010). History. Retrieved March 1, 2010, from http://www. in-n-out. com/history. asp In-N-Out Burger. (2010). Employment Restaurant. Retrieved March 1, 2010, from http://www. in-n-out. com/employment_restaurant. asp Wikipedia. (2010). Microsoft Corporation. Retrieved March 1, 2010, from http://en. wikipedia. org/wiki/Microsoft Dillard’s. (2009). Career Options. Retrieved March 1, 2010, from http://www. dillards. com/sec/SecHeaderServlet? secflag=c How to cite Developing Good Business Sense, Papers

Life is like an ocean Free Essays

The ocean. This is the object/place that I could compare with my life. Life is unpredictable and there are also waves like the ocean. We will write a custom essay sample on Life is like an ocean or any similar topic only for you Order Now There are calm days and there are rough days. Sometimes it’s warm and inviting, but sometimes it’s cold and scary. The ocean is deep and there is much to explore. And also is life. There are so many things to explore, but we can only experience all this things if we go inside it. Every mime you go inside it, you learn new things and this things could make you grow up and can teach you some things. Some of us are afraid of what will happen because we don’t know what’s next. â€Å"What if I can’t? What if I fail? What if they laugh at me? What if I get hurt? † This questions are some of those hindrance of solving our challenges in life. We should not overreact and all we have to do is Just think about It. If we make the bad decision then we should not blame others, we must need to sail gain through the rough parts of it until we already achieve it. It can pull us under, but we can still rise if we really want that our dreams will come true. My life can be compared to ocean. It’s always moving, and having ups and downs, long, and big. We also meet different creatures while exploring that can help us. Even if it is full of problems, we should still enjoy It. Life Is an ocean of experiences. You should dive right In! How to cite Life is like an ocean, Essays

A HowTo Narrative For English Comp Essay free essay sample

A How-To Narrative For English Comp Essay, Research Paper The population of the United States made some serious forfeits during World War II. Gasoline rationing caused a major turbulence in the cab and hauling industry and production of non war related point was curtailed. Sugar was limited to minuscule sums on certain yearss of the month and people hoarded it as if it were gilded. One of the most detrimental curtailments was the production of beer due to the limitations placed on barley. All the little # 8220 ; ma and dad # 8221 ; breweries could non afford to close down for the continuance of war and went out of concern, go forthing the beer production to a limited few. This caused a alteration in the American ingestion of beer to a light laager type with really small competition. However, true beer lovers do non hold to devour the massed produced, watered down imitation of existent brew any longer. We will write a custom essay sample on A HowTo Narrative For English Comp Essay or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page A little investing in equipment, a speedy trip to your local home-brew shop, and you are on your manner to doing your really ain beer. To get down with, you must piece your brewing equipment, get downing off with a brew pot. Any pot that can keep at least three gallons of liquid will do provided it has a palpebra. You will necessitate a five gallon H2O bottle, which we will stick on with an air lock, as your fermenter. Agitation is the procedure of turning your ingredients into the finer things in life, beer, while the air lock keeps bacteriums out of the fermenter. The air lock is cheap and can be purchased at your local home-brew shop for a twosome of dollars. You now have the equipment needed to brew and ferment, all you need now are bottles and caps for hive awaying and basking your beer. Bottles are easy obtained from your local tap house for the cost of the sedimentation and caps and cresting equipment are found at the home-brew shop for less than ten dollars. Once you have assembled this equipment you # 8217 ; re ready to travel on to bring forth your first batch of existent American beer. Now that the equipment is assembled, we come to the most hard portion of brewing ; make up ones minding on a type of beer. Your local home-brew shop has 100s of kits available for doing every manner of beer known to adult male but make up ones minding which one is right for the novitiate is a tough determination. I would urge that you start with an ale type of formula, due to its robustness to defy temperature fluctuation. Get down the brewing procedure by puting three gallons of H2O in the deep-freeze. Next, topographic point two gallons of H2O in your brew pot and convey to a furuncle. After it comes to a turn overing furuncle, add the ingredients of your brew kit ( non including the barm ) . The kit is measured sum of barley infusion and hops, dehydrated and packaged for convenience. Stir the ingredients exhaustively, cut down the heat and simmer covered for an hr. Keep a close oculus on the pot because it will boil over if non carefully monitored. When you have completed the one hr furuncle clip, take the H2O from the deep-freeze and pour into your fermenter. This H2O should be about 40 grades or so, but the exact temperature is non critical. Carefully pour your hot mixture into the fermenter and let it to blend with the cold H2O. This mixture of â€Å"raw† beer is called wort ( riming with â€Å"shirt† ) and the temperature should stabilise around eighty five grades. Once we have completed the cookery or the existent brewing procedure, we now turn to the most interesting portion of the procedure. You should now hold five gallons of wort in your fermenter and a barm package. Cut unfastened the yeast battalion with a unfertile brace of scissors and add to your fermenter. This is called # 8220 ; fliping # 8221 ; the barm. You can sterilise your scissors by utilizing intoxicant or puting them briefly in a fire. Fill your air lock to the top and affix steadfastly to the top of your fermenter. Now we come to the hardest portion of brewing: waiting. Ale barm is a really rapid barm and you should see your air lock get down to bubble within two to three hours. These bubbles are C dioxide being expelled from the barm that is change overing the starches in your wort to alcohol. In two or three yearss, the bubbles should decelerate to one bubble per minute bespeaking it is ready to bottle. Siphon the wort from the fermenter into your waiting bottles, go fo rthing about one inch to the top of each. Then, utilizing your bottle capper, cap each of the bottles and topographic point in a cool topographic point for one hebdomad. That s all there is to it. You can now open your beer and bask more spirit and texture than in most beers produced in the United States. Now that you have made your first batch, you may wish to research many other brewing techniques and manners of beer. Home- brewing is quickly turning throughout the United States and there are many nines and groups that can offer support and advice. You may wish to get down brewing from natural ingredients poetries packaged formulas. This will name for some serious idea and even more serious of an investing. But in the immortal words of Charlie Pappazan, the immortal leader of the home-brew motion, # 8220 ; Relax, wear T concern and have a home-brew. # 8221 ; 34e

Falsifying Economic Models

Questions: 1.Economic models are false and so government should ignore their predictions.Explain, discuss and evaluate the accuracy of this statement? 2.Provide full citations for the employed literature. Comment on the magnitudes of these estimates in relation to the standard economic determinants of the price elasticity of demand? Answers: 1. Economic models are mainly constructed on the basis of historical data, information, and statistics. Therefore, 100 percent accuracy is impossible if the outcomes of a model define randomness. Apparently, if a model has possessed cent percent accuracy as well as zero error, it will be described as a fact (Buck Lady, 2005). However, economic models have been created by the economists considering the real-world historical data that represents uncertainties, randomness, and errors. As a result of the scenario, simpler models can be misleading and false to identify the actual economic parameters. In order to create statistical modelling on economics, both reality and approximation have been considered. Depending on the leading purpose of economic models, factors and variables must be assumed to complete the model (Siliverstovs, 2017). Clearly, the hypothetical models can be perfect as far as theoretical field. Based on economic parameters and historical data, a flawless economic model cannot be formed. Understandably, each of the economic models has been constructed based on approximation. Therefore, changes in variables at a certain level can result in misleading predictions. For instance, financial risk-models can be one of the devastating models to be considered leading to the economic crisis (Freedman, 2011). During 2008 global crisis situation, misleading financial risk models had created massive economic uncertainties, to say the least. Hence, economic models are moreover false in most of the cases. Meanwhile, considering the two types of economic models such as theoretical and empirical models, the accuracy of the models can be questioned on a serious note. Each of the models has certain limitations and variables (Fingleton, 2008). Some of the models have started without explanations to be precise. Notably, most the models are created on economists experience and knowledge resources. As a result of the same, different models can deliver different types of outcome even if the set of data is constant (Buck Lady, 2005). During economic trend setting, most of the models are found as unreliable. For instance, demand-supply model of labour industry can be depended on so many variables and factors. Hence, predictions cannot be prcised by merely following the economic models based on theoretical concepts and historical data. In the current scenario, governments must change their perspective on economic models as the models can be full of flaws. Meanwhile, the governments cannot ignore all the models at once. The calibrated models should be updated according to time making sure that tiny flaws should be readjusted. Precisely, recalibrated models should be utilised in financial risks to avoid wrong predictions. Moreover, apart from logical economic models, rest of the models should be ignored by the governments to avoid unwanted financial crisis issues. Decisively, if economic models have to be utilised by the government, accurate data resources should be mandatory replacing approximation system. 2. The price elasticity of demand presents the relationship between the quantity demand and the price of the product helping in estimating the effect of change in the price on the quantity demanded of the commodity. The equation used to calculate the price elasticity of demand of a product is as follows: Percentage change in the Quantity Demanded Percentage change in the price The above equation is used to estimate the effect of change in the price on the quantity. It is also used to estimate the change in the revenue earned by the firms after and before the price change (Karlan Zinman, 2013). It is important to note that the price elasticity of demand of a product depends upon the utility derived by it. Hence, the price elasticity of demand of a product is different than any other product. The estimations of the price elasticity of three different products are presented herein below: Gold: Gold is a luxury product as well as a price sensitive product. A small change in the price of gold leads to a high change in the quantity demanded (Miller Alberini, 2016). For example, when the price of gold decreases from $45 to $40, the quantity demanded increases from 1000 units to 1250 units. Hence, the change in percentage of price is 12.5 percent, whereas the change in the percentage of quantity demanded is 25 percent. Therefore, the price elasticity of gold is 2 that make it have a highly elastic demand. A diagram has been presented for better understanding: Figure: Highly Elastic Demand Source: (Salvatore, 2011) It can be seen from the above figure that the change in the quantity demanded is more than the change in the price. Hence, gold being a luxury product has a highly elastic demand. Salt: In the case of essential goods such as salt that are used on a regular basis in daily life, the demand of the product does not change with the change in price (Rassenfosse Potterie, 2011). For example, if the price of salt increase from $1 per kg to $2 per kg, the demand will remain same. On the other hand, if the price falls, the demand for salt will remain unchanged. Therefore, the demand for necessary products is perfectly inelastic in nature. A diagram has been presented herein below for better understanding: Figure: Perfectly Inelastic Demand Source: (Salvatore, 2011) It can be seen from the above figure that the quantity demanded remains constant at Q for all level of prices at point P, P1 and P2. Though the price changes, the change in quantity demanded is zero. Hence, salt or any other necessary goods have a perfectly inelastic demand. Cigarette: In the case of cigarette, it is a product that causes addiction. Hence, a change in the price of cigarette will have a little impact on the quantity demanded of the product (Rassenfosse Potterie, 2011). For example, a rise in the price of cigarette from $4 to $5 will have a decrease in the quantity from 10 units to 9 units. Therefore, the change in the price is 25 percent, whereas the change in the quantity is 10 percent. Hence, the price elasticity of cigarette is 0.4, which makes it inelastic in nature. Figure: Highly Elastic Demand Source: (Salvatore, 2011) It can be seen from the above figure that the change in the quantity demanded is less than the change in the price of the product. Hence, cigarette is estimated to have inelastic demand because it is a product of addiction. References Buck, A. Lady, G. (2005). Falsifying economic models.Economic Modelling,22(5), 777-810. Fingleton, B. (2008). Competing models of global dynamics: Evidence from panel models with spatially correlated error components.Economic Modelling,25(3), 542-558. Freedman, D. (2011).Why Economic Models Are Always Wrong.www.scientificamerican.com. Retrieved March 2017, from https://www.scientificamerican.com/article/finance-why-economic-models-are-always-wrong/ Karlan, D. Zinman, J. (2013).Long-run price elasticities of demand for credit(1st ed.). London: Centre for Economic Policy Research. Miller, M. Alberini, A. (2016). Sensitivity of price elasticity of demand to aggregation, unobserved heterogeneity, price trends, and price endogeneity: Evidence from U.S. Data.Energy Policy,97, 235-249. Rassenfosse, G. Potterie, B. (2011). On the Price Elasticity of Demand for Patents.Oxford Bulletin Of Economics And Statistics,74(1), 58-77. Salvatore, D. (2011). Microeconomics (1st ed.). New York: McGraw Hill. Siliverstovs, B. (2017). Dissecting models' forecasting performance.Economic Modelling.