Q. Explain why MC cuts AC and AVC at their minimum values? Ans: Marginal cost (MC) is the extra total cost resulting from 1 extra unit of output. Average total cost resultiong is the sum of ever decling average fixed cost (AFC) and average variable cost (AVC). Average total cost stands for (AC). In the short run the costs are generally represented by a U- shaped curve that is always intersected at its minimum point by the rising MC curve. Average variable cost (AVC) equals variable cost divided
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processes. Yet tacit knowledge also underlies many competitive capabilities—a fact driven home to some companies in the wake of aggressive downsizing‚ when undervalued knowledge walked out the door. The marvelous capacity of the human mind to make sense of a lifetime’s collection of experience and to connect patterns from the past to the present and future is‚ by its very nature‚ hard to capture. However‚ it is essential to the innovation process. The management of tacit knowledge is relatively unexplored—
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watching Hallmark network films‚ it is quite common to see certain actors featured regularly‚ and sometimes we don’t even think about learning their names or looking up their other works‚ especially if they are in supporting roles. However‚ I have discovered that if I delve a little bit deeper‚ I often find that I come across incredible talent‚ and I understand why Hallmark chooses to highlight these gifted actors again and again. Matt Hamilton is one such actor. No matter what role he tackles‚ his
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Learning Organizations in any Industry Jennifer Bunt MGT/426 October 22‚ 2012 Jascia Redwine Learning Organizations in any Industry As clearly stated in the article Managing Change Successfully by Eileen Brownell (Sep/Oct‚ 2000)‚ “Change is inevitable.” Within every company in every industry‚ change exhibits growth. Without change‚ companies will become obsolete. With technology continually changing‚ organizations
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Knowledge Management Practices in Ayurvedic Industry. Introduction Knowledge management (KM) is based on the idea that an organisation’s most valuable resource is the knowledge of its people. This is not a new idea – organisations have been managing “human resources” for years. What is new is the focus on knowledge. This focus is being driven by the accelerated rate of change in today’s organisations and in society as a whole. Knowledge management recognises that today nearly all jobs involve
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Introduction Research is committed to creating knowledge that is relevant to policy issues‚ and engaging stakeholders in the translation of research for effective and innovative changes in policies. By critically assessing and synthesizing research findings‚ hence provide authoritative and relevant perspective for decision makers. Several classifications of research will be examined in oder to exhaust their role in knowledge generation. Fundamental Research The main purpose of these types of
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American law enforcement organizations is hierarchal and it is a bureaucratic structure adopting ways of the military. The quasi-military structure found in police departments will emphasize the importance of specializations in task‚ duties‚ objectives‚ and responsibilities. Each level in the chain of command has specific authority and tasks to carry out. Historically speaking‚ Peel’s principles of a professional police organization can be seen in today’s philosophy of community-oriented policing
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Stanya Palmaro ITM 350 Dr. Knapp October 28‚ 2014 Risk Assessment: BYOD in Healthcare Organization Introduction: For the past couple of years‚ a policy that allows employees to bring their own personal devices to work has become progressively popular. This policy is known as BYOD‚ an acronym that stands for “bring your own device”. One of the main reasons for the growing usage of the policy is the increase in employee productivity as they are already familiar with the equipment they are using at
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Nonprofit Organization Revenue Tammy L. Blackmon BSHS/373 March 17‚ 2014 Rinku Bhattacharya Nonprofit Organization Revenue American SID’S Institute is a nonprofit organization that helps keep the fight to end what was once known as crib death. The meaning of crib death was and still is when a baby falls asleep and slips away during the night/morning/afternoon‚ today we call crib death Sid’s. Sudden Infant Death Syndrome is a much broader term to use when relating it to children
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understand issues relating to strategic change in an organization AC: 2.1 Examine the need for strategic change in an organization: Change is seen as an opportunity‚ not a threat. This sometimes implies an entrepreneurial strategic leader. It invariably requires flexibility and innovation‚ which implies entrepreneurial managers who accept responsibility for driving the change initiative. The reason for this failure is the inability of the organization to deal with change. A change in behavior cannot
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