“Diversify the economy”‚ Many Nigerian presidents and executive figures have used this phrase time immemorial as a talking point when asked about economic solutions. Just a few months ago‚ during a BBC HardTalk interview‚ former President Olusegun Obasanjo also stressed the need to diversify the economy away from oil dependency and it looks like some states are finally listening. Last year‚ Lagos and Kebbi partnered for rice farming and processing‚ developing a division of labour whose synergy culminated
Premium United States President of the United States Agriculture
ECONOMIES OF SCALE AND ECONOMIES OF SCOPE Economies of scale are reductions in average costs attributable to production volume increases. They typically are defined in relation to firms‚ which may seek to achieve economies of scale by becoming large or even dominant producers of a particular type of product or service. A distinction can be made between internal and external economies of scales. Internal economies of scale occur when a firm reduces costs by increasing production. External economies
Premium Costs Economics of production Marginal cost
r r r r r r r r r r r r rr ECONOMIES AND SCOPE OF SCALE 2 r r r r r r r r r r r r r r r r r r r r r r r r r rr ew concepts in microeconomics‚ if any‚ are more fundamental to business strategy than economies of scale and the closely related economies of scope. Economies of scale allow some firms to achieve a cost advantage over their rivals. Economies of scale are a key determinant of market structure and entry. Even the internal organization of a firm can be affected by the importance
Premium Costs Economics of production Variable cost
according to “The Functions of the HQ Unit in the Multi-Business Firm‚” do economies of scale and economies of scope provide cost advantage opportunities to firms? · What considerations would be relevant to a firm’s deciding which strategy (scale or scope) to adopt? · How does the choice of executive focus – strategic planning‚ strategic control‚ financial control – influence HQ functions and approaches in a multi-business firm? In economies of scale lower cost of goods sold by leveraging increased production
Premium Costs Economics of production Cost
The objectives of the firm can be viewed as the motives of the entrepreneur/s who own and run the firm. There a number of goals that firm can pursue in its day to day operations - it may try to maximise profits‚ sales or growth‚ meeting shareholder expectations‚ or increasing market share. Maximising profits - making the biggest possible profit‚ or the smallest possible loss - is recognised as the main objective of most firms. Profit is the difference between the firm’s total revenue (output sold
Premium Economics
SULTAN QABOOS UNIVERSITY Language Center Independent Study Report THE MAIN REASON FOR THE SUCCESS OF CARREFOUR English for Business 1 Section: 30 Teacher’s Name: Dr. Shaukat Ali DATE: 16 December 2012 Acknowledgments We thank all the people who helped us finish this project‚ starting with Dr. Shaukat Ali and Ms. Annette Herzog for their co-operation. Also‚ we would like to thank the students who helped us by filling out the questionnaire. 1 TABLE OF CONTENTS SUBJECT | PAGE | Acknowledgements
Premium Carrefour Retailing Wal-Mart
People come to America for many reasons‚ most wanting to achieve their American dream. The American dream is “something people wish to achieve in life‚ in which freedom lets people have the opportunity for success and equality.” Everyone has their definition of the American dream and what they want to achieve in life. An athlete perceives their American dream as playing professionally in a sport that they enjoy while making a significant amount of money. The payment gap between men and women athletes
Premium James Truslow Adams United States Immigration to the United States
CORPORATE ENVIROMENT PROJECT REPORT ON WHICH FIRMS ARE IMPORTANT TO A SOCIETY AND ITS ECONOMY? LARGE FIRMS OR SMALL FIRMS. WORD COUNT: 2602. BY STUDENT ID: 094005 STUDENT ID: 094011 STUDENT ID: 094057 STUDENT ID: 094031 INDEX 1. INTRODUCTION (3) 1.1. COMPARISON BETWEEN THE SMALL FIRMS AND THE LARGE FIRMS (3). 2. SMALL FIRMS OVER THE LARGE FIRMS (4). 2.1 ADVANTAGE OF THE SMALL FIRMS (5). 2.2 SMALL FIRMS ACT AS A BACKBONE EXAMPLE (6). 3. CONCLUSION (7)
Premium Small business Business
Diversify Corporate America I wouldn’t have thought my gender affected the decisions I made on Wall Street—until I got fired Capitalism is the most successful economic system in history. But sometimes it breaks. So too do the big banks‚ the most highly distilled form and symbol of capitalism. And never more so than in the crash of 2008. The culprit in that crash has broadly been identified as greed‚ and the solutions have focused on additional regulation of Wall Street. But there have been
Free Economics Economy Economic system
Q4. What criteria must be met if firms are to achieve a competitive advantage through their employees? Organizations which have happy employees have the upper hand on their competitors. An organization’s success depends on KSA (knowledge‚ skills‚ and abilities) of employees‚ as they help to establish a set of capabilities that distinguishes a firm from its rivals‚ which is to gain a competitive advantage. A firm can achieve a stable competitive advantage through talented employee in case if they
Premium Management Employment Strategic management