Production possibility frontiers and economic efficiency.
production possibility frontiers and economic efficiency Introduction The Production Possibilities Frontier (PPF) shows the maximal combinations of two goods that can be produced during a specific time period given fixed resources and technology and making full and efficiency use of available factor resources. A PPF is normally drawn as concave to the origin because the extra output resulting from allocating more resources to one particular good may fall. This is known as the law of diminishing returns and can occur because factor resources are not perfectly mobile between different uses, for example, re-allocating capital and labour resources from one industry to another may require re-training, added to a cost in terms of time and also the financial cost of moving resources to their new use. An example of a conventional PPF is shown in the diagram above which shows potential output of DVD players and MP3 players from a given stock of labour and capital. Combinations of the two goods that lie within the PPF are feasible but show an output that under-utilises existing resources or where resources are being used inefficiently. Combinations of the two goods that lie on the PPF are feasible and can be produced using all available factor inputs efficiently. In the PPF diagram above, the combination of output shown by point E is unattainable given current resources and the
Mangaing information
Managing Information Systems The aim of this assignment is to see the requirements for developing and managing a comprehensive Management Information system for an organization. In today's business environment it is getting harder and harder for organization's to not only survive but to compete against other organizations. Information technology plays a big part in helping companies compete and survive. Companies that have branches or franchises need to make sure that they can communicate with the head office so that orders can be passed down. Most of a mangers time is spent Passing information and ideas upwards to senior management to aid their decision making 2 Providing other department managers with information which will help them do their jobs more effectively 3 Passing information down wards to subordinates 4 Conveying attitudes or creating them 5 Receiving and interpreting facts and data 6 Communicating with people out sides the company e.g. suppliers. The manager needs resources to aid him with the task mentioned above. Management information systems and decision support systems are two such resources. Computers and information systems play critical roles in the operation of most organizations. All organizations, from factories to banks, are highly dependent on information for their day-to-day operations. The vast quantity of information that large
Unit2 Business and Management
Introductions (Task1) In this task I will talk about the interpersonal and communicational skills, in the task I will demonstrate a role play to identify my interpersonal and communicational skills. After I demonstrate the role play my colleagues will give feedback where I need to improved it, than i will mention how can i improve my interpersonal and communicational skills. Lastly i will mention how key management functions may be met more effectively through the use of key interpersonal and communicational skills. Findings P4) What interpersonal and communication skills can you bring and why? Interpersonal skills are the skills connected with dealing with the people and working with other efficiency to make the business success. Interpersonal skills are used often into business contexts to refer to the measure of a person's ability to operate within business organisation. Interpersonal skills including: * Working with other harmoniously * Evaluating and excepting responsibilities * Understanding measured to respond conflicts * Working in team effectively Working with other harmoniously means we need to make sure the teams are get on with there responsibly and to check them whether if they are working together with out no arguing, it is better individuals to work together to achieve the success of the business. Evaluating and excepting responsibilities means
enterprise unit
Jimmy Wing Wang Pizza Enterprise Unit Applied Business Studies Mr. A Miseroy Introduction For the enterprise unit, we have to organise and run a business for 5 days in order to run the business we first had to come up with an idea of what we were going to do. After coming up with a few initial ideas like pizza and shwarma we decided that to make the business more successful and popular we would be better of selling soft drinks with the food. After finding out more information and all the details, we found out that shwarma's won't be a good idea as we will either need to rent a portable machine one of the places and also we will need to hire some one to run it, this means that it will be expensive and we might not cover the costs. There was a problem with the pizza's as well, due to the times of the breaks most of the popular pizza places that we were thinking of did not open up till later so we had to find a pizza place that opened at 10:00-10:30am, so the pizza's will be cooked and deliverd to the school for between 11 and 11.10am. this was important because the pizzas needed to be delivered before second break had started because the pizzas needed to be sorted out and ready to be sold to the students and staff of Doha college. After we had looked around at the different pizza businesses in Doha we found the ideal pizza place to buy our pizzas from, which was
Business organisation
Workshop #2 Today's trend towards greater project-based complexity makes organizational culture and designs the central theme behind the ultimate success and failure of any given project. With the emergence of global markets, projects now take on a wide distribution of project teams scattered across multiple organizations in a particular supply chain. If a particular organization is not trained to take on these new complexities, the selection of a project is thus limited towards smaller and menial tasks. Most organizations fall under two specific forms- organic and mechanistic (Olson & Branch, 2002). Organic companies have a culture in place that deals more with rapidly changing markets and technologies. Mechanistic companies are more effective in stable markets that usually do not require a quick turnover of new projects (Olson & Branch, 2002). Depending on how the organizational design and the employees who drive these decisions are defined, the culture is often times the overlooked intangible that will determine success. Technology enables employees to better manage complex projects, but without the right people and the right organizational culture in place, the propensity for delays, increased costs, and poor quality will ensue. Effective project management is a function of teamwork, leadership, communication and cultural ambience. Marvin Weisbord author of Organizing
Principles of customer service and methods used to monitor them in two organisations. P2 benefits of good customer service and what happens when theres bad customer service in the two organisations.
Task 1 Customer service P1 principles of customer service and methods used to monitor them in two organisations. P2 benefits of good customer service and what happens when there's bad customer service in the two organisations. P3 how different customers' needs influence the service provided by the two organisations Part One the Principles of Customer Service Introduction A customer is an individual with specific needs when buying products and services and expects a very high level of service in meeting those needs. Customer service involves providing Products and services that meet the needs of the customer and satisfy their demands. This is particularly applies to travel and tourism (a people industry) where the success of any business depends and providing customers with a high level of customer service. Customer service is all about finding out what the customer wants and making sure it is delivered; making sure there is every chance the customer will recommend the organisation; getting the details right every time; exceeding customer expectations; putting the customer first and at the centre of everything. In recent years customers have come to expect more from the products and services they are buying. What once may have been an added extra is now often a necessity. This is especially so when the travel and tourism industry. For example en suite facilities
What factors contribute to make a successful leader, how might your style of leadership vary to be successful when involved in individual, racket and team activities
What factors contribute to make a successful leader, how might you style of leadership vary to be successful when involved in individual, racket and team activities The three basic leadership styles are: -Autocratic -Bureaucratic -Laissez-faire Autocratic Leadership Style This is often considered the classical approach. It is one in which the coach retains as much power and decision-making authority as possible. The coach does not consult performers, nor are they allowed to give any input. Performers are expected to obey orders without receiving any explanations. Creating a structured set of rewards and punishments produces the motivation environment. This leadership style has been greatly criticized during the past 30 years. Some studies say that organizations with many autocratic leaders have higher turnover and absenteeism than other organizations. These studies say that autocratic leaders: -Rely on threats and punishment to influence performers -Do not trust performers -Do not allow for performers input Yet, autocratic leadership is not all bad. Sometimes it is the most effective style to use. These situations can include: -New, untrained performers who do not know which tasks to perform or which procedures to follow -Effective supervision can be provided only through detailed orders and instructions -Performers do not respond to any other
Business of management
Introduction Opportunities for leadership occur everyday, so that even the most reluctant individuals occasionally find themselves in charge. The better prepared they are to meet these leadership challenges, the more readily they develop new skill and increase their confidence and personal insight. Leadership skill can be acquired through training and effort even if background, modesty, lack of confidence or inexperience create self-doubt. This process often begins when individual discover that they have qualitries and strengths usually associated with leadership. They then surprise themselves with their own inner resources. When this kind of inner strength is revealed, its existence is not easily forgotten. Regular exercise of new-found strength produces further achievement and a sense of self-fulfilment so that growth leads to growth. The key factor of leadership is divided into smaller approaches. Leadership and management are two distinctive and complementary systems of action. Each has its own function and characteristic activities. One reason leadership takes precedence is that leaders are the people who decide what needs to be done and the ones who make things happen. Employees believe that organisational successes and failures are linked to leadership. Effective leaders are flexible when deciding which leadership style is the best one for their group at any given
What factors contribute to make a good leader and how might your style of leadership vary to be successful when involved in individual, team and racket sports?
James Powell Coursework 2005 What factors contribute to make a good leader and how might your style of leadership vary to be successful when involved in individual, team and racket sports? Leadership plays a very big role in all sports, particularly in team sports as within the group there are many relationships. A leader will have to maintain the cohesion between individuals. In addition he will influence an individual's performance and affect a team's unity. Players look to leaders to provide them with motivation, support and organisation. Some commonly identified traits of a good leader are self-confidence, creativity, good communication skills, the ability to inspire and motivate, the ability to make decisions, a desire to lead, and a desire to influence others. 'Leadership is basically the behaviour of an individual when he or she is controlling and directing the activities of a group towards a shared goal' (Hemphill and Coons, 1957). Effective leadership can make players confident and perform to their best. If the leadership is poor the players in, for example, team sports will not have the same common goals. This will lead to division and rivalry which will adversely affect the team's performance. Researchers have explored leadership and it's affects on behaviour within sport.
Recruitment. Evaluate the usefulness of the documentation in the interview pack used to facilitate the interview process. In what ways did the documentation contribute to the organisation, management and conduct of the interview and the process of making
D1: Evaluate the usefulness of the documentation in the interview pack used to facilitate the interview process. In what ways did the documentation contribute to the organisation, management and conduct of the interview and the process of making a selection decision? Before our interviews we had to create an interview pack that consisted of: * Invite to interview letter * CV * Interview questions * Map * Job description * Personal specification * Interview assessment * Interview checklist The documentation contributes to the organisation of the interview by clearly organising the interviewee's information and the interviewer's assessment of the candidate. The key documents here are the job description and the person specification. The purpose of the job description is to give information to prospective employees about what the job involves. It explains the purpose of the job and the type of responsibilities and duties that will be expected as part of that job. The job description essentially concentrates on providing information about the job. The person specification is a direct contrast; it provides information about the type of person that the organisation is looking for to do the job. The person specification gives a list of requirements, but these relate to the person doing the job. It will have detail attributes that the organisation wants that person to
