Determining the factors that influence an industry is a basic step to analyse the study which helps to develop competitive advantage in the market. Through potters generic strategies it can be analysed how British petroleum differentiate in the market as compared to its competitors which makes an appeal to their valuable customers on the basis of their quality‚ innovation and responsibilities achieved.Analysis of the Competitive Environment of British Petroleum This paper is basically about the
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The Influence of Customer Satisfaction and Switching Costs on Customer Retention: A Survey of Retail Internet Banking Users in Hong Kong WONGChjBo BSc(Hons)‚ MBA‚ MA‚ MSc Student ID No. 9911675L International Graduate School of Management Division of Business and Enterprise University of South Australia A Thesis submitted in total fulfillment of the requirements for the degree of Doctor of Philosophy in Business and Management 24 January 2005 TABLE OF CONTENTS Page No.
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Opportunity Cost Scarcity of resources is one of the more basic concepts of economics. Scarcity necessitates trade-offs‚ and trade-offs result in an opportunity cost. While the cost of a good or service often is thought of in monetary terms‚ the opportunity cost of a decision is based on what must be given up (the next best alternative) as a result of the decision. Any decision that involves a choice between two or more options has an opportunity cost. Opportunity cost contrasts to accounting cost in
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manufacturer produces 1‚000 basketballs each day‚ which it sells to customers for $30 each. All costs associated with production and sales total $10‚000; however‚ if the manufacturer were to produce one additional basketball per day‚ total costs would increase to $10‚100. From these amounts‚ we can tell that a. the firm has negative profit. b. marginal cost equals $100. c. marginal cost equals $150. d. marginal cost equals marginal revenue. 2. A retailer has to pay $9 per hour to hire 13 workers
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We already know that following are the important cost concepts related to the production process of a firm: • Fixed Cost • Varibale Cost • Average Cost • Marginal Cost please refer to following page Introduction to Cost Concepts to understand various cost concepts in detail. Here we will briefly state again the meaning of above stated cost concepts for better understanding of the module on short run cost analysis. Fixed Cost is that cost which does not change (that is either goes up or
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PHARMACEUTICAL PATENTING IN INDIA:PROBLEM OF PUBLIC ACCESS TO HEALTH TABLE OF CASES 1) Novartis AG v. Union of India‚ (2007) 4 MLJ 1153 2) Bayer Corporation & Others v. Cipla‚ UOI & others‚ 2009(41) PTC 643 (Del). INTRODUCTION A pharmaceutical drug‚ also referred to as medicine‚ is a chemical substance used in the medication or in the preparation of medication for treatment‚ cure‚ prevention or diagnosis of disease. The definition of the term drug includes articles intended for use in
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Case Study: Cost Justified Managers face many challenges in the day to Day operations of their business. Often times some of the greatest challenges come from within their own ranks‚ as superior managers use their position and influence to coerce one to make decisions or commit acts that are sometimes on the boundaries of the law and often cross the ethical line. In the case of “Cost Justified‚” we are introduced to Joe‚ the District
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Early in 1997‚ Genzyme Corporation began negotiations with Geltex Pharmaceuticals in an attempt to launch a joint venture to market Geltex’s first product‚ RenaGel. Geltex was a young biotech research company with only two products in its pipeline‚ and they didn’t have the resources necessary to launch RenaGel on their own. Genzyme‚ on the other hand‚ was a quickly growing company that experienced revenues of $518 million in 1996. They were attracted to the joint venture with Geltex because of the
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Cost of Capital Firms need to make capital investment i.e.‚ purchasing fixed assets such as factories‚ machineries‚ equipment‚ etc. After deciding what capital investments to make‚ they need to decide on the financing – sources of capital. The sources: Long-Term Debt‚ Common Stock‚ Preferred Stock and Retained Earnings. Then they need to find the cost of obtaining each source of financing today (not historical). Cost of Capital - The rate of return that a firm must earn on its investment
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Microeconomics Topic 6: “Be able to explain and calculate average and marginal cost to make production decisions.” Reference: Gregory Mankiw’s Principles of Microeconomics‚ 2nd edition‚ Chapter 13. Long-Run versus Short-Run In order to understand average cost and marginal cost‚ it is first necessary to understand the distinction between the “long run” and the “short run.” Short run: a period of time during which one or more of a firm’s inputs cannot be changed. Long run: a period of time during which
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