exceptionally good manager achieves a hard working‚ productive and effective workforce that punches above its weight in its performance. Good managers attract exceptional staff; they make the organisation a preferred employer; they help to increase market share; add to profits and surpluses‚ and reduce costs. Their staff are engaged‚ committed and ‘go the extra mile’. Managers‚ however‚ dance on a fault line - they either have the behaviours that inspire followers to do what they otherwise may not
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LONG-RUN EQUILIBRIUM OF A FIRM UNDER PERFECT COMPETITION In the long run‚ a firm in the perfectly competitive market can earn only normal profit. So‚ the profit maximization under long run is: (1)Necessary condition P=LMR=LAR=LMC=LAC (2)Sufficient condition Slope of MC > Slope of MR We can establish this condition from the following analysis. In the above diagram for any market price OP1 the existing firms can earn supernormal profit as for the equilibrium output level OQ1. The average
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Case in the news: Demand/Supply and Equilibrium This article is based on the fundamental idea of supply and demand of the iPhone 5 whose demand has outstripped its supply. Due to the fact that the demand is so high‚ even those who pre-ordered the new slim iPhone 5 had to wait until October to get this new phone. The sales have broken all previous records and stand tall at 2 million phones in the first 24 hours. According to the article people had been
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My Life Changing Experience It’s not easy facing the death of a loved one‚ and I assure you it wasn’t easy for me. Faced by the traumatic scene I constantly faced upon entering and exiting the hospital‚ I felt my heart ripping open every time. It all started back on December 20‚ 2013 my beloved father was diagnosed with stage four lung cancer. This came to my whole family as shocking disbelief. How can a person who dedicates his life towards his family have such a lethal disease? Tears poured
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TITLE Vapour Liquid Equilibrium OBJECTIVE To find the Vapour-Liquid Equilibrium (VLE) relationship for binary mixture and to plot the equilibrium curve. INTRODUCTION The term equilibrium is referred to as when a system is in a static condition and there is absolutely no changes that occur as time goes by. Vapour-liquid equilibrium is a condition where a liquid and its vapor are in equilibrium with each other‚ a condition or state where the rate of evaporation is equal to the rate of condensation
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Equilibrium Lab Report Data Collection: 1. What card did you have? K=13 What was your trading partner’s card? Q=12 2a) . At what price did you eventually trade? 12 Your surplus: -1 2b) If you didn’t trade‚ why not? Economic Relevance 3. What is the predicted equilibrium? How does the most common trading price in your lab session compare to the equilibrium price? The predicted equilibrium was (13‚ 7). 4. Who was able to stay in the market? Who was shut out? In what ways did this
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exchange relationships within the market‚ type “A” being market life‚ and type “B” being capitalism. Market life or free market‚ is more involved with smaller scale trade. Braudel talks about it being more visible‚ but it has no pure dominant force. One thing market life does have‚ is a direct link between production and consumption within a society. It is easier to regulate if there is competition but‚ no real competition is necessary but the competition that is in market life is equal and fair competition
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chemical equilibrium is already achieved. A reaction is said to be at equilibrium when the following conditions exist. 1. 2. 3. Several factors such as temperature‚ concentration and pressure affects the rate of reaction which can cause an effect in the chemical equilibrium. A general rule is used to predict the direction in which an equilibrium reaction will move which is called the Le Chatelier’s Principle. It states that if an external stress is applied to a system at equilibrium‚ the system
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The First and Second Conditions for Equilibrium The first condition for equilibrium: The second condition for equilibrium: • • ΣF = 0 ΣΓ = 0 • In when both of these conditions are satisfied in static systems all forces and torques sum to zero. In problems where the first and second conditions of equilibrium are satisfied‚ the best strategy is to create FBD’s for both the first and second conditions‚ derive equations based on these FBD’s and then see what useful information may be gleaned from
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and examinations taking over of my life‚ so the summer break after post- ten school in 2015 was unforgettable time to relax and going home to make a change of getting involved in my village as a community developer. The purpose of enjoying the summer break after post-ten school was to recoup health and vitality and to provide a chance working together with older people in my village. Therefore‚ this easy is firstly going to talk about family’s reunion of my life‚ then engaging with older people for
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