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University Degree: Management Studies
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Some leagues and players have not agreed upon how much the cap should be and certain restrictions. This has led to some lockouts or strikes and cancellations of games and seasons. The NHL had a lockout back in 2004-2005 because the Players Association and team owners could not agree on a salary cap. The MLB had a strike during the 1994-1995 seasons and had some problems with a few things that dealt with free agency and trading in the 1970?s. Lockouts and strikes are also more commonly found early or before a season even begins (Staudohar 6).
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Oddly enough, this matches up quite well with the two schools of thought regarding the decision-making process. The classical theories of decision-making are focused on rationality; the selection of the optimal solution is ?guaranteed? through the analysis of information (data) and objective evaluation of all alternatives in comparison with the objectives of the organization. This theory seems more suited to OLTP, to make structured decisions; what is meant by ?structured? is the processing of information in a certain way to always get the right answer. The ?old-school? theories work on a basis where there is some sort of agreement on the objectives between all of the stakeholders.
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$ 4,500 Average Selling Price (per ton) $ 6,200 Production (ton) to reach breakeven point 122 Total Production Cost $ 768,000 Total Revenue $ 768,000 Profit (per ton) after breakeven point $ 1,700 The above information depicts that if the plant sells 122 mega tonnes of dates to the domestic market at an average selling price of $6,200/MT, it will breakeven, that is, its revenues will surpass the initial investment cost. At this point, MorDates could make an estimated profit of $ 1,700 for each MT of dates sold. According to the World Bank, ?Morocco has one of the ?worst? indices for rigidity of labour, including minimum wages and firing costs.? High labour cost weakens competitiveness and encourage informality.
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Discuss the relationship between entrepreneurship, innovation and economic development. What role do creativity and problem solving play in this relationship? Refer to both theory and examples from the business world to support your discussion.
A highly favourable method of achieving this and addressing problem solving is the Ingenuity Approach to Clear Thinking whereby it breaks down the issue into separate areas for more in depth analysis. You have three key principles of ?definition?, meaning you know the problem and recognise where you want to be, ?discover? the possibilities and then finally ?determine? the future by applying idea evaluation and choosing and if applied successfully should leave you with a creative solution. Innovation is of close relation to problem solving, as in accordance with the Austrian School of Economics, they talk of a need to ?observe the changes in conditions and be alert to the opportunities...
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Therefore, we can distinguish the system into two concepts, which are based on either economic and technological rationalities or history. The first concept implies the theory of a continuous flow line production on moving tracks to pass on a division of labour to produce massive sales of goods. Meanwhile, the second concept, which is historical concept, refers to the social context of each country and differ the stage of sophistication and development of mass production. Moreover, the main purpose is to decrease production costs, as the prevalent mode in competitive market was price.
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And its vision is to be an innovator of new technologies that the people daily would be affected. Therefore Porter five forces analysis and Differentiation of products market are regard as a tool to critical analyse Apple Inc, which is the aim of strategy for achieving successful. 1. Porter five forces analysis Porter`s five force is a framework for corporations analysis and business strategy development formed by Michael E. Porter in 1979 (Qickmba, 2010). Porter's five forces include three forces from 'horizontal' competition like threat of substitute products, the threat of established rivals and the threat of new entrants.
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Using appropriate theory, critically analyse the macro environmental factors that have influenced the development of the global pharmaceutical industry
Patents are essential for large scale firms such as the pharmaceutical industry as they rely on them to not only secure income from inventions but to also block new entrants creating generic medicines at a lower cost with the same ingredients. Companies are becoming increasing aware of the competitive advantage a well developed and strong portfolio of patents can offer However, when legislation was introduced that put a time limit on the patent of 20 years, it placed pressure on the industry to speed up the development process which led them to narrow their areas of focus and move towards a network-based approach.
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This study can lead to the organisation gaining knowledge on how a difference in strategy can change the performance of the individuals within the work place. This can make an organisation highly productive and ultimately lead to the gain in profits. The characteristics that organisational behaviour holds that it used to strive for a development within organisations. Looking at the different ways in which a company can research the organisational behaviour within the work place, one of the most common research methods used is observation.
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Invest heavily in its marketing campaigns Cheap advertisement expenditure 1. Put messages on bulletin board services (BBS) (Luo & Feng, 2010) Customer Service 1. At the beginning, eBay forbade the connection among buyers and sellers 2. In order to keep customer preference, eBay has to provide chatting service (e.g. Skype, chatting room, discussion board etc.) 1. Taobao encourages the direct connection among buyers and sellers to acquire more real information about products, so Taobao ?AliWangWang? is offered Payment Service 1. PayPal is not suit used in China due to Chinese government?s tight control of financial service providers (Lu, 2007)
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Before explaining how Apples philosophy & corporate culture have affected its handling of ethical issues, we should take a glance at the uniqueness of Apples philosophy and culture.
One of the four principles contributing to their ?integrity? is confidentiality. In the case, the problem was stated that the iPhones could collect data on phone?s location. Icials claimed that this was breach of privacy. Apple has responded to this issue by correcting the problem with new software. However, it remains a controversial issue. As mentioned above Apple is responsible towards reducing environment pollution. For this they provided transportation service to its employees, which were run by bio-diesel to lower emission as well reduce fuel costs.
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Besides, it is also vital for entrepreneurs learn how to face with the problems arising in the more and more complicated world, in particular, the political issues and how to make good decisions and set up plans before entering such troubles. Main Content Definition of Political Risk: There are numerous ways to approach the description of Political Risk, Truitt suggested that ?political risks are all ?non-business? risks such as creeping expropriation?. The Commission on Foreign Investments defined political risk in terms of loss over ownership or loss of benefits of enterprise by government action.
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Lowe et al. (1996) conducted a meta-analysis of various studies where the MLQ was used which showed that transformational leadership behaviours correlated strongly with leadership effectiveness. Among them charisma (comprises inspirational motivation and idealized influence) was found to be the one most strongly associated with leadership effectiveness. Perhaps because of the way it is perceived and the traits that come to mind when one tries to relate it to transformational leadership. In addition, it highlighted the importance of transformational leadership not only for top level leaders but also those at lower levels of organizations.
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The CEO has set a long-term goal to double sales over the decade, a plan called Vision 2020. It is important to know what initiatives are being taken to complete Coca-Cola?s future prospects and what present situation it has confronted. One way to deliberate is through SWOT analysis. This project will first address definition and rationale for using SWOT. Second, it will discuss the advantages and disadvantages of Coca-Cola Company, then focus on the opportunities and threats, and finally evaluate the impact and future development. Definition and rationale for using SWOT SWOT stands for strengths, weaknesses, opportunities and threats. Strength and weakness are internal to the organization while opportunities and threats are the external aspects of the marketplace.
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Data extracted from monthly financial reports showed that low performance is constantly reducing gross margin from 55% in June 2012 to 34% in October 2012 (over 4% per month). Moreover number of rejects and customer returns are emphatically increased what caused low delivery at the time performance and appreciable increase number of areas. The customer is affected by expanded lead time which even more reduces customer satisfaction. The situation is affecting BLC business reputation and creates the risk of losing existing and potential customers.
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(Daft & Lane. 2010, p.6) Planning falls into 4 categories, namely Strategic, Contingency, Tactical and Operational. In order to plan effectively, management have to be aware of the ever-changing business environment in areas that would affect them and also be able to forecast future conditions. For IKEA, this function can be utilised in managing the production of its goods from the raw materials stage until the end finished product. Coordination is extremely crucial as it has over 1,600 suppliers across 55 countries.
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This report aims to describe and explain the terms; enterprise, entrepreneurship and intrepreneurship.
The difference between the two is that public businesses can have their shares sold to the public. Cooperative is a type of limited company which has members instead of shareholders, and they all share the power to make decisions. Entrepreneurship is described in the book ?Entrepreneurship: Creating a Venture?, written by Lily Kretchman, as ?an act of bringing about change to achieve some benefit. This benefit may be financial but it also involves the satisfaction of knowing you have changed something for the better?. (Kretchman. Lily) Entrepreneurship can also be defined as what entrepreneurs do, which involves using their personal attributes and skills such as personal initiative, creativity, risk-taking, determination and self-reliance to generate a business idea and create a new company, service or product that may solve a problem or satisfy customer needs.
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Both empirical and theoretical evidence will be given in order to demonstrate the discrepancy between the rational investors assumption and real financial markets. Second, this essay will further explain how noise traders can survive in the long run, even sometimes earn higher expected returns than rational investors. Finally, it should be noted that noise trading is essential to financial market as its impact on asset pricing and benefits for market liquidity. 2. Illogicality of efficient-market hypothesis Efficient-market hypothesis (EMH) assumes that financial markets are "informationally efficient" (Fama, 1965).
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Most of us contact different media, such as newspaper, television, radio or Internet, everyday at any time. Due to the advanced technology (i.e. Smart phone or Tablet), we can face to media easily. As a result, advertising can be distributed to us very simple. Advertising is an effective tool to attract me since it can raise awareness which is necessary for me to notice the products or companies; develop understanding and create knowledge which make me clear what is the benefit and image. To achieve customer retention and growth, there are positive and negative strategies, reward for staying and penalize for exiting respectively.
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CRITICAL REVIEW ASSIGNMENT - Transformational and Transactional Leadership impact on Management Innovation with regards to Organisational Size
this article explores the notion of innovation and how it is implemented at a managerial level and the concept of how innovation can mean being ?new? to an organisation. However, without the use of relevant examples of management innovation, I believe there certainly are some limitations to my chosen article (outlined in valuation of the paper). Key Arguments Vaccaro et al. (2012) cite through Egra & Herman (2000) and Yang et al. (2010) that previous studies have indicated transformational leadership is more receptive towards management innovation simply amongst smaller organisations.
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We will perform a SWOT Analysis to determine Ben & Jerrys strengths, weaknesses, opportunities, and threats, followed by Options for Entering the Japanese Market and Recommendations.
In order to maintain their competitive advantage and social responsibility standards, it is critical that the company expands into international markets, but now without developing a management team first. It is necessary to perform an analysis of the internal and external factors that shape the ice cream industry in order to further understand Ben & Jerry?s current (and prospective) corporate and environmental strategies. First, we will perform a SWOT Analysis to determine Ben & Jerry?s strengths, weaknesses, opportunities, and threats, followed by Options for Entering the Japanese Market and Recommendation.
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What recommendations would you make to Gary Kelly and Southwest executives as the company heads into 2011?
This may affect Southwest?s long history of no lay-off policy. However, it is impossible to keep all these unsuitable employees and risk having bad outcomes in the future because of the inconsistency in their behavior with the airline?s core values. Secondly, AirTran?s facilities such as aircrafts, warehouses, offices, etc. may not meet Southwest standards which were implemented to become more cost-efficient. In order to sync up, it is essential to have some modification in the operations of AirTran?s facilities. For example, there will be less front-line receptionists needed to proceed with the purchase of printed tickets in AirTran because of Southwest?s ticketless traveling.
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Why is the fast food industry so profitable? Discuss the question and relate it with sales growth. You are also required to highlight the advantages and disadvantages of fast food.
My deepest thanks go to my fellow classmates for their understanding and support. Summary This study was to find the reason why fast food industry is so profitable It was requested by School of Business & Management Linton College It was requested on (August/2/2010). The investigation was done by : Student 1: UBS4-04/09-00096 (matrix card number)/R486374 (passport number) Student 2: UBS401/09-00261 (matrix card number)/A01140422 (passport number) Student 3: UBS4-05/09-00084 (matrix card number)/A0020833 (passport number) The main findings were that the reason why is the fast food industry so profitable It was concluded that fast food industry is so profitable, however have so many disadvantages in heath sector The recommendations are that consider with their own health should be reducing their habits when it comes to eat fast food.
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IKEA - paper to how IKEA responded to external changes by introducing its newest innovation, flat-pack TV and will then conclude by reviewing IKEAs culture of innovation.
Through this vision, comes an innovation that truly reflects the values that IKEA stands for, a flat-pack packaging. Not only does flat-pack saves transportation costs, it also reduces IKEA?s carbon footprints (ref:4). As years goes by, IKEA now expanded into the electronic industry by offering flat-pack TV for consumers. This TV (i.e. Uppleva) offering will ultimately eliminate all the clutter of cables and remotes around your TV and it also comes with a media player and features SMART TV (ref: article). So basically it is an all-in-one TV that IKEA ?invented?. The rationale behind the launch of this product is due to the change in external environment.
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A brief discussion of Kudler Fines opportunities through change in technology, strategic plan the organization is pursing, tactics used to implement the strategy, and obtaining recommendations on how to update the strategy will be laid out in this paper.
Organizations that utilize information technology have the ability to increase operations and enhance the organizations customer service. ?Information technology creates applications that provide direct strategic advantage to organizations? (Turban, Rainer & Potter, 2003). Kathy Kudler has an idea that will add to the organizations inventory and ordering automation system. The idea would be to add new internet options and a link for online catering (Kudler Fine Foods Portal, Strategic Plan). Through strategic information systems, an organization has the capability of increasing the organizations strengths and use the strengths towards competitive advantage.
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Management assignment. Fayols five processes of management functions are essential for studying constituent elements of management, while Mintzbergs model further details the complex, multidimensional nature of management.
Fayol pioneered the functional approach to management, emphasising that management is centred around: planning, organising, commanding, coordinating and controlling. Successful management can only arise from the effective implementation of such ?processes?. However, Fayol?s classical administrative theory was subject to challenge in 1973. Henry Mintzberg criticized the model?s inability to specify managerial roles. From his empirical observations of five senior management executives, Mintzberg concluded that Fayol?s traditional functional approach was oversimplified and therefore unrealistic. He notes that managers are confronted daily by different people and situations, each requiring a different role and combination of management skills (Gentry, Harris, Baker & Leslie, 2008).
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