Question no: 01:- Accounting profit and Economic profit. Economic Profit Implicit cost Accounting profit Explicit cost Total opportunity cost Revenue Revenue How an economist views a firm How an accountant views a firm Accounting profit equals sales revenue minus ( - ) all costs except the cost of equity capital‚ while Economic profit is sales revenue minus ( - ) all costs including the opportunity cost of equity capital. Thus economic profit may be lower than the accounting profit
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Master of Business Administration Managing Change in Organisations Assignment Paper 1 Contents Task 1 ...................................................................................................................................................... 3 Overview of the change ...................................................................................................................... 3 Nature of change ....................................................................
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government who exercise power and maintain the economic stability. (Anderton‚ 2000: 273) There are three types of economic systems‚ first is the market economy that works according to the price mechanism‚ next is the planned economy where centralisation is being applied. Of course‚ both of the mentioned economic systems do not exist in pure form but in a fusion form. "That is the mixed economy‚ where both private sectors and governments are involved in process of resource allocation." (Bamford
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Meaning After having discussed organisation‚ its importance and principles in the previousunit‚ now we shall explain the meaning and importance of the term “Departmentation” which forms the very basis of the organisation structure of any enterprise. You have already noticed that organisation involves the dividing and grouping of the works to be performed in the enterprise on some logical basis so that team spirit can be developed. This grouping of activities and employees into various units for
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Word or phrase What does it mean? Chain of command The way in which a business is structured for it to achieve its objectives Line manager A diagram which shows the internal structure of an organisation Authority Structure of different levels of authority in a business organisation‚ one on top of the other Function Employee who is responsible for overseeing the work of others further down the hierarchy of the organisation Organisation Task or jobs. Organisation by function means that
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encourages to increase the exchange and export value‚ and to expand the market for the trade and commerce. There is a relationship between globalisation and the decentralisation of facilities and firm and the centralisation of central business district in the metropolitan area. Decentralisation
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Administration; The role of Public Administration in the Modern State; Responsive Administration. Unit II Bases of Organization – Primacy of the Functional base; Principles of Organization; Hierarchy; Span of Control; Delegation of Authority; Centralisation and Decentralisation; Control over Administration: Legislative‚ Executive and Judicial‚. Unit III The Chief Executive; Line‚ Staff and Auxiliary Agencies ; The Department; Public Corporations; Independent Regulatory Commissions; Field services
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This drives people for quick results SLIDE 3 Power distance * A much higher score than that of Australia with 70 vs 36 * In Vietnam there is a much stricter hierachial system in place * This is to reflect inherent inequalities‚ centralisation of power‚ where subordinates do as they are told Individualism * Vietnam is highly colelctive * Close
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Europe before the Renaissance had been a fragmented feudal society with an agriculturally based economy‚ and its culture and dominated by the Church. After the fourteenth century was characterised by the growing national consciousness and political centralisation based on organised commerce and capitalism‚ along with the secular control of thought and culture.It was in Italy from around the time 1375 to the sack of Rome (1527) that the distinctive features and impacts of the renaissance era are revealed
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DISCUSS THE NATURE OF THE INDIAN STATE ACCORDING TO LIBERAL PERSPECTIVE. The state is being perceived as an "organised structural and institutional whole" epitomizing the power relations of society. The state in a developing society arise from historical factors and interacts with society through its decisive role in the economic process of the nation. To study the nature of any particular state‚ it is necessary to analyse to relation between state‚ power‚ and social classes and the purpose of
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