Profit Maximization model helps to predict the price-output behavior of a firm under changing market conditions like tax rates‚ wages and salaries‚ bonus‚ the degree of availability of resources‚ technology‚ fashions‚ tastes and preferences of consumers etc. It is a very simple and unambiguous model. It is the single most ideal model that can explain the normal behavior of a firm. It is often argued that no other alternative hypothesis can explain and predict the behavior of business firms better
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Job enrichment and job enlargement Job Enrichment should be distinguished from enlargement job enlargement attempts to make a job more varied by removing the dullness associated with performing repetitive operations. In job enrichment‚ the attempt is to build in to jobs a higher sense of challenge and achievement. The accumulation of achievement must lead to a felling of personal growth accompanied by a sense of responsibility. The goal of job enrichment is not merely to make the more varied
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Your position for a Street Supervisor caught my attention‚ and after having read the job description it became apparent to me that I was a perfect match for your vacancy. A review of my attached resume will confirm to you that I have the required drive‚ energy and experience to be able to make a real and positive difference to your operations. Without a doubt‚ your department would benefit from my proven ability to plan‚ manage‚ and prioritize to meet all your operational requirements. For the past
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Freezing out profits Synopsis Freezing out profits is an article that discussing on one company which is Cold Cuts Ltd (CC). The managing director for this company is Mr. Dali. It produces Singapore’s only refrigeration parts and specializing in it. He is the one that is responsible for all the decision making that need to be done in the company. CC was essentially a subcontractor of components for customers who were original equipment manufacturers (OEMs). This company not only faced competition
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A01 Profit and loss account: A profit and loss account calculates the amount of gross and net profit that a business takes on an annual basis; it also outlines the loss which has occurred through the business‚ through necessary overheads. There are many aspects included within a profit and loss account‚ all of which I am going to briefly explain. It is important to have a profit and loss account within a business to enforce correct usage of the money. The company will be able to see where the business
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obvious to many that the goal of a company is to make a profit. According to Milton Friedman‚ what many businesses do not say is that this is their only responsibility and that it is to make the highest profit possible. As members of society‚ we should be concerned that these decisions will have affect us. I believe that a business has the responsibility to make a profit‚ but it has many others as well. A business not only has to make a profit but think about the long term affects such as their employees
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In order for a company to be able to reach its full potential financial management must be in place. This management needs to be aware of at least the basics of financial plans which are revenue‚ cost and profit. These three things can make or break a company. Each of these things must be understood and considered before plans can be laid to create or better a company. Revenue is the amount a company receives (Marginal Revenue‚ 2009). If a company is in the business of sales‚ revenue is the
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Non-profit organization is not organized for the purpose of generating profits but to fulfil a charitable mission. Among the many non-profit organizations in Colorado‚ Liver Health Connection (Previously Hepatitis C Connection) is the only non-profit organization in the state that provides coordinated and in-depth Hepatitis C education and prevention services. Liver Health Connection (LHC) was founded in 1995 by Ann Jesse and a small group of enthusiastic individuals. At a time‚ it was founded under
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and that is job enlargement‚ job rotation‚ and job enrichment. They are different in some ways but alike in many. The first way is job enlargement. This way is to expand in several tasks than just to do one single task. It is also the horizontal expansion of a job. It involves the addition of tasks at the same level of skill and responsibility. It is done to keep workers from getting bored. This would also be considered multi tasking by which one person would do several persons jobs‚ saving the
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media portray accounting numbers‚ such as profits‚ as some sort of ‘hard’ and objective performance indicator? Why do you think they might do this‚ and‚ if they do‚ what are some of the implications that might arise as a result of this approach? In making this judgement‚ students should consider the various articles that frequently appear in newspapers and various discussions that occur on television and radio in relation to an organisation’s profits.
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