the long run‚ perfect competitive firms only earn normal profit. This is due to the easy entry and exit of firms into the market. Easy entry is mean that a new firm can easily enter the market if it established supernormal profit in the short run‚ new firms enter the industry and this increase the supply of the product. As result‚ the price falls and reduces the profit. New firms will continue to venture into this business until the profit reach zero. Easy exit is mean that some of the existing
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safety‚ and he was shot more than once for his efforts. According to an ethical egoist‚ Sanders was morally wrong‚ because he failed to maximize is own well being. However‚ most people will agree that his sacrifice saved many and he is a hero because of it. This example is just one way to show how ethical egoism is not the best possible moral philosophy to follow. One argument against ethical egoism is that the theory does not provide a way to solve conflicts of interest. For example‚ if Harris
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1. What is the purpose of financial statement analysis? It show trends and relationships. These also help predict the future‚ show weaknesses‚ strengths. The ratios usually are compared to other companies within the industry and industry average to see where the company stands. Source: http://answers.yahoo.com/question/index?qid=20080215185426AACTP6A 2. If a company had sales of $2‚587‚643 in 1998 and sales of $3‚213‚456 in 2003‚ by what percentage did sales change during this time period
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Question 2 Cost Volume Profit Analysis 1.0 Introduction According to Jon Scheumann “a successful organizations need a culture that is attuned to cost management and pay attention to cost structure” From that statement manager must pay attention and carefully thinking when do decision making to the cost. For example when manager want to target the profit. They must take every cost that related in production such as variable cost and fix costs. Cost Volume profit analysis is used in decisions
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ETHICS IN LEADERSHIP ASHISH 3/18/2013 What is Ethical Leadership? Ethics refer to the desirable and appropriate values and morals according to an individual or the society at large. Ethics deal with the purity of individuals and their intentions. Ethics serve as guidelines for analyzing “what is good or bad” in a specific scenario. Leader is person who influences the thoughts and behaviours of others. A leader is one who establishes the direction for others to willingly follow. One person can
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Ethical Issues in OB Kris Jones Organizational Behavior Prof. Thomas Stone June‚ 11‚ 2012 Ethical issues have become a significant concern in organizations‚ especially in recent years. Ethics involves the study of moral issues and choices; concerned with what is right and wrong‚ bad and good and define what people should do (Kinicki & Kreitner‚ 2011). One of the problems regarding ethics is organizations and their people don’t always share the same idea about right and wrong and are
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Triple bottom line? - A stool is stable only if it has three legs The triple bottom line (abbreviated as "TBL" or "3BL"‚ and also known as "people‚ planet‚ profit" or "the three pillars”) captures an expanded spectrum of values and criteria for measuring organizational (and societal) success: economic‚ ecological and socia"People‚ planet and profit" succinctly describes the triple bottom lines and the goal of sustainability. "People" refer to employees‚ shareholders‚ customers‚ suppliers‚ workers‚
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The Prison System- A “Market” for Profits Joseph Hallinan’s analysis‚ “Going Up the River: Travels in a Prison Nation‚” helps to discern that the insatiable drive for profit is the prevailing reason for continued growth of the prison industry in the United States. Public values based on this drive have been supported by the avocation of a “free-market” model and capitalism in the prison system: “According to this ideology every individual pursues his or her own personal interests and the result
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Ethical Dilemmas 1 Ethical Dilemmas Larry Carter COM 425 May 31‚ 2010 Ethical Dilemmas 2 Ethical Dilemmas In today’s world employees face many different challenges in the workplace‚ challenges which not only bring on difficult choices‚ but could also bring about unwanted change. One of these challenges is Ethical Dilemmas. When an ethical dilemma arises in the workplace an employee is faced with what to do. How do they
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COST-VOLUME-PROFIT ANALYSIS(CVP) Definition of Cost Accounting A type of accounting process that aims to capture a company’s costs of production by assessing the input costs of each step of production as well as fixed costs such as depreciation of capital equipment. Definition of Cost-Volume Profit Analysis A method of cost accounting used in managerial economics. Cost-volume profit analysis is based upon determining the breakeven point of cost and volume of goods. It can be useful for
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