consumer obtains one more unit of Y‚ how many units of X must be given up in order to keep utility constant? ∆Y∆X= 4-22-8= 26= -13 ~ Utility unchanged‚ if consumer exchanges 1/3 units of X for 1 unit of Y. c. What is the marginal rate of substitution? X = 2‚ Y = 8 X = 4‚ Y = 2 ∆Y∆X=MRS -( 8-2 )( 2-4 )= - 62=3 8 6 4 2 1 2 3 4 5 Question 7: Suppose a customer has indifference map shown below. The relevant budget line is LZ. The price
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model 2-Non- financila model FINANCIAL METHODS: In financial maethod we determine the capital budget of the project. In capital budgeting following techniques are used‚ 1-Pay back period 2-Net present value 3-Internal rate of return 4-Profitability index These method are explained below‚ 1-PAY BACK PERIOD: Payback period is the exect length of time needed to recover the intial investment of the firm as calculated from the cash inflows. Payback period
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Strategies for Effective Managerial Communication and Listening Han-Cheng Wang Hawaii Pacific University Dr. Carol Parker MGMT 6910 March 23‚ 2011 Strategies for effective managerial communication and listening Interpersonal communication plays an important role not only in our personal life but also in business field since interpersonal communication is the procedure that we can receive information and feeling from someone immediately and then to lead us to express
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Is there any link between Corporate Social Responsibility‚ Blue Ocean Strategy & Competing for the Future? Discuss. Corporate Social Responsibility Corporate initiative to assess and take responsibility for the company’s effects on the environment and impact on social welfare. The term generally applies to company efforts that go beyond what may be required by regulators or environmental protection groups. Companies have a lot of power in the community and in the national economy. They control
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Environment PESTEL The PESTEL framework categories environmental influences into six main types: * Political (Taxation changes‚ foreign trade‚ political risk in foreign markets‚ government policies) * Economic (Interest rates‚ GDP trends‚ unemployment rates‚ exchange rates) * Social (Population changes‚ income distribution‚ consumerism‚ changes in culture and fashion) * Technological (new discoveries and technologies‚ ICT innovations‚ increased spending on R&D) * Environmental
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Biovail Business Memo In 2003 Biovail Corporation announced that it will miss its 3rd quarter earnings target by $25-$45 million‚ attributing $10-$15 million to a recent shipment loss. Being one of Canada’s largest publicly traded pharmaceutical companies with stock listed on both the Toronto and New York stock exchanges‚ the news raised concerns in the financial circles over the company’s accounting practices. Even Biovail’s claim that the shipment loss presented a revenue value of over $10 million
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Making Decisions Based on Demand and Forecasting Week 3 Assignment Managerial Economics and Globalization ECO 550 May 9‚ 2013 Making Decisions Based on Demand and Forecasting Report the demographic and independent variables that are relevant to complete a demand analysis providing a rationale for the selection of the variables. As the Marketing and Public Relations Manager for my community‚ I am conducting research about the demographics of our community. My research will be based
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Managerial Function in International Business Importance of managerial function in international business When it comes to international expansion of a business‚ there are many things that the organization must keep in mind. An international business may function similar to a domestic business‚ however‚ the procedures and technicalities differ. Due to level of increasing competition between the global companies‚ it is of utmost importance that the employees are trained to be flexible enough to
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Business Strategy Notes VRIO Framework1 The VRIO Framework and the Resource-Based View2 In the last three weeks we have looked at how firms can get a competitive advantage. Today we focus primarily on the sustainability of a firm’s competitive advantage. That is‚ what determines whether a firm’s competitive advantage will be short-lived or whether it will endure a long time? We will consider this question within Barney’s VRIO framework (outlined below) within the resource-based view. Under the resourced-based
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Will the strategy fit between business and HRM strategy influence HRM effectiveness and organisation performance? It is known that a company’s strategy is very important to their future success however we must evaluate wither there is a correlation between the alignment of the business and HRM strategy and the successful performance of the firm. The alignment of the two strategies was first theorized to have effect by Skinner 1969. Since then it has become the major subject of research pieces
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