Question 1 A patent entitles the inventor of a new product to prevent others from selling‚ manufacturing‚ making‚ marketing or importing the patented product for a limited period of time. This can provide the patent holder with a monopoly position in the market for that product‚ which allows them to charge a higher price and achieve their expected returns (both tangible and intangible). Pharmaceutical companies used this strategy to maintain their market competitiveness and guarantee the returns
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Budgets serve five main purposes; planning‚ facilitating communication and coordination‚ allocating resources‚ controlling profits and operations and evaluating performance and providing incentives. The budgeting process requires both technical and interpersonal leadership skills to achieve each of these purposes effectively. The director’s memo demonstrates several short comings in the budgeting process. The director instituted the “responsibility accounting system” as a means of evaluating performance
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Case Study Lincoln Electric Company Case Study January 17th‚ 2008 EXECUTIVE SUMMARY Lincol Electric Company is a very successful company on the market. It has a good market share due to its productivity. Productivity is the key element of a firm to be successful. Lincoln Electric created a system to pressure employees for a higher productivity. The pressure that this company uses is not psychological‚ it is the motivational one. The management motivates its workers with several bonus
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com/science/zoology/agriculture-sector-of-bangladesh.html http://www.discoverybangladesh.com/meetbangladesh/agriculture.html http://archive.thedailystar.net/newDesign/news-details.php?nid=233020 http://www.agencyft.org/20132014-budget-bigger-pie-of-agriculture-sector-budget-should-focus-on-dsip-and-local-governments/ https://www.google.com.bd/search?q=budget+2013&espv=2&source=lnms&tbm=isch&sa=X&ei=W7XCU_7AAs6gugTBh4LIBw&ved=0CAYQ_AUoAQ&biw=1024&bih=499#facrc=_&imgdii=6hSBzFORINsZkM%3A%3B7wIx0PYan5-2VM%3B6hSBzFORINsZkM%3A&imgrc=6hSBzFORIN
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Management and Budget and Congressional Budget Office The Office of Management and Budget and the Congressional Budget Office play a huge role in the U.S Government. The Office of Management and Budget is a part of the Executive branch whereas the Congressional Budget Office falls into the legislative branch. These two agencies have different responsibilities and powers‚ which are used to help our country run smoothly in the financial aspect. The OMB was created in 1921 through the Budget and Accounting
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The electron is a fundamental subatomic particle that carries a negative electric charge. It is a spin-½ lepton that participates in electromagnetic interactions‚ and its mass is less than one thousandth of that of the smallest atom. Its electric charge is defined by convention to be negative‚ with a value of −1 in atomic units. Together with atomic nuclei‚ electrons make up atoms; their interaction with adjacent nuclei is the main cause of chemical bonding. The name "electron" comes from
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How to Make a Simple Electric Motor Energy comes in many forms. Electric energy can be converted into useful work‚ or mechanical energy‚ by machines called electric motors. Electric motors work due to electromagnetic interactions: the interaction ofcurrent (the flow of electrons) and a magnetic field. Problem Find out how to make a simple electric motor. Materials Needed D battery Insulated 22G wire 2 large-eyed‚ long‚ metal sewing needles (the eyes must be large enough to fit the wire through)
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employees. Lincoln Electric had a extensive precut lime that tapped the needs of the industry but although this was a strong differentiation in their business its not what made them successful. The R&D was successful because people in the company were stimulated to invest their time and effort into it because they would reap monetary benefits from it. For example the annual bonus was based on four factors; output‚ ideas‚ cooperation‚ dependability and quality. During the expansion process‚ most attention
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Budgets provide a means for planning the financial future and play a vital role for planning. Budgets simultaneously make managers construct and implement plans‚ contribute useful information for improved decision making‚ provide a standard to administer performance evaluation‚ and enhance organization and communication. An essential component of the budgeting system is control. Control periodically takes actual results and budgeted results and compares the two. It also allows for managers to
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Bronco Sales Company Master Budget Analysis By: Chief Budget Officer Joshua Fryhover 100 University Drive Edmond‚ OK 73034 Analysis: The Chief Budget Officer of Bronco Sales Company has created the following Master Budget for B.S.C’s upper management. This following presentation provides all of the necessary individual budgets along with an analysis‚ recommendations‚ and conclusion section‚ for the operating period beginning July 1 and ending September 30. All of
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