There are governments that totally control their economy and do not do business with other countries. There are governments that rule monetary policy and tax business, but do not become concerned in the markets otherwise. Similar to mixed economies, the positions of a government in the configuration of an economy is crucial to understand in order to understand the economics of the country. Concepts of Macroeconomics and Understanding Business or economic cycles focus on the variations, both anticipated and unexpected, within an economy. Variations in business cycles are able to be seen as short-term and long-term progression developments and they could shift.
Political changes are changes that occur outside of the business and therefore out of the businesses control, say for instance a change in the law which could affect the business and it has to change the way it runs things to fulfil the requirements of the law. Economic change may occur due to exchange rates rising or decreasing. If the business imports goods from another country there could be taxes they have to pay or the exchange rates might not be profitable for the business. The
3) What are the factors that lead to or impede successful ABC implementation (i.e., individual, organizational, technological, external) and which factors were present in the case of Universal? Do these success factors tend to be more behavioral or technical in nature? Universal Electronics’s standard costing system was basically allocating large pieces of overhead to production processes, and burying essential elements of manufacturing costs. These methods not only created incorrect costs, but also they did not provide the costing accuracy or level of detail needed in that competitive business environment. There are several factors, or lack thereof, that can have a direct impact into a successful or unsuccessful ABC implementation, and these can be categorize as follows: * Individual Factors: * There should be individual(s) with expert knowledge of ABC in order to successfully implement this system into a company.
Sultan Molla MGMT-325 Thursday, December 15, 2011 Incentives Incentives are a major factor to consider when you are responsible for a business. Incentives can greatly affect an organization in many ways, and the type of organization determines what incentives are most suitable. These incentives are not standardized; they depend greatly on the region and location. For example each region has laws and benefits for businesses, so what might work for one company might not necessarily work for the other. These organizations make decisions based on the location that offers the best incentives for the business the organization engages in.
When unethical decisions are made, everyone involved in the corporation and its well being are affected in a negative way and will jeopardize the well being of the business. “Ethical responsibilities of an organization’s management are to follow the generally held beliefs about behavior in society” (Wheelen and Hunger, pg 58). An ethical role within the corporation is not mandatory, however it is practiced in most businesses would be giving employees notices of
Capacity is a key element in a firm’s production strategy; all resources (manpower, facilities, machinery) impact strategic capacity planning. Strategic capacity planning involves many variables, which provides flexibility in targeting specific production objectives. Conversely, poor strategic capacity planning can negatively affect a company’s production process; for example, it would be detrimental to a company that produced perishable or time-sensitive products to maintain excessive warehousing space, since the product has very little shelf life. The opposite would also be true—if a company had insufficient warehousing for nonperishable or non-time sensitive goods, it would not be able to store sufficient product to meet customer demand during surge periods. In supply chain management, strategic capacity planning controls the demand of new opportunities at minimal cost (Chase, Jacobs, and Aquilano, 2006).
Because of customer demand the chain began to open stand alone restaurants in 1986, it now has 938 stand alone restaurants around the country. To be true to their mission “Be America's Best Quick-Service Restaurant” the company has drive through only restaurants for fast service and added convenience to their customer. Chick-Fil-A has also licensed, non-traditional outlets; this program allows licensees to serve delicious Chick-Fil-A food in settings such as college campuses, hospitals, airports, and business and industry locations. One creative approach that the company used was their advertising; this approach set them apart from other restaurants. The use of cows to put their restaurant out on the market was a success.
Assignment Number: TMA 01: PART 1. Module: B120: An Introduction to Business Studies. INTRODUCTON. This is a detailed assessment explaining to Mr Chris Pike (Manager of Zinn’s Burgers and Pizzas at the Ottershaw branch), about on-going codes of conducts which are having an adverse effect on the business and jeopardising their reputation as a strong presence in the fast food industry in an area which has seen. I have made propositions to improve the situation with immediate impact before it has disastrous consequences on the future of the business.
Business organizations have various factors that affect their profits. Researchers classify them into two categories, internal factors and external factors. Internal factors consist of forces which organizations can control. They include; organization
Within an organisational structure the term silo means that information is not freely or communicated within other areas of the business / work place, one department does not know what the other department does for the customers / organisation. The likely effects that this can have on the customer service provided is that there is less efficiency in the services provided and also higher possibilities of errors occurring. Question 3: Describe each of the following Market Segmentation terms and give an example of each one a) Geographic segmentation b) Demographic segmentation c) Psychographic segmentation d) Behavioural segmentation A) Geographic segmentation is the Collecting and analysing of information according to the physical