The law of diminishing returns only applies in the Short Run‚ when only one factor of production is variable and can be increased. The other factors of production are fixed. Thus as the variable factor of production is increased the marginal product of that factor will rise at first‚ but will at some point begin to fall. Returns to scale can only occur when no factors of production are fixed. If the quantities of all of the factors of production are increased‚ then output will also increase. However
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M1 - Explain why human resources planning is important to an organisation. Human Resource management can be defined as a management of organisation workforce. It is responsible for recruitment and selection‚ induction and training‚ promotion and transfers‚ human resources and manpower planning‚ rewards and conditions of employment and appraisals and termination of employment. HRM is also a strategic and comprehensive approach to managing people and the workplace culture and environment. Effective
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Introduction The economic globalization is a gradual active process of regulatory steps and trends towards the establishment of a unified global market‚ unbounded by tariff or non-tariff barriers and unrestricted by state borders. Multinational enterprises are the forefront vanguards of this process. Since the beginning of the Industrial Revolution in the 18th century‚ international business activities have had a paramount impact on previously exclusively state-reserved rights like fiscal policies
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Table of contents: Page no. 1. Introduction 1 2. Investment appraisal 2 3. Payback method 3 4. Present value (PV)‚ future value (FV) and net present value (NPV) 5 5. Project 1 6 6. Comparing projects 11 7. Conclusion 12 8. References 13 9. Bibliography 14 Introduction: In 21st century business is much more developed and competitive as well with the presence of so many competitors
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Planning is of paramount importance for effective school management. Sound plans are essential for effective and efficient management in any organisation‚ because they serve as guides to all management functions. The management’s plan for the school are then given to the various departments at a school and from departments members of staff take the senior management’s plan and implement it during the day to day running of the school activities. Therefore‚ this assignment is looking at the assertion
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Site Planning and building form are very important from the point of view of seismic performance of the structure. Also it is very important to have proper compatibility of elements resisting seismic forces. Site Planning and selection of building forms is the first step in designing of any structure and the decisions taken are very crucial for the behaviour of those structures during any earthquake. Based on examples taken from various past earthquakes and theories this chapter gives guidelines
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My decision to return back to school not only affects me‚ but those around me. As I type this‚ I’m laying in bed with a 1 yr old snuggled up with my arm. As a student‚ I must also balance day to day life as a mother and a full-time worker. My kids are too young right now to understand that I’m doing this for them. As a mother‚ my ultimate goal in life is to show my 3 daughters that you can do anything that you put your mind to. In order to do that‚ I must become a peak performer. I will achieve that
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Return to Paradise Return to Paradise is a film that has a lot of meanings within the story line. But also has many ethical issues among the morals that are in today’s society. Three ethical issues in the film are capital punishment‚ drug use‚ and media treatment. Capital punishment is an ethical issue because it is highly opinionated. Some people believe that people shouldn’t have to die to pay for their crime‚ while others believe that death is the best way to pay for what they’ve done as a
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Enterprise Systems Enterprise Systems Michael Peele IT 205 Axia College of University of Phoenix Enterprise Systems What are Enterprise Systems? According to Laudon and Laudon (2009)‚ an Enterprise System is the ability to know how a business is performing. An Enterprise system allows one to account for inventory and the replenishment process. AN enterprise System allows for integration of different databases. The main database is able to acquire information from different departments
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Enterprise DBMS have been around for awhile but there have been new enhancements that have been added to them such as changes in architecture‚ database applications‚ etc. I. Enterprise Architecture First of all‚ Enterprise DBMS started out using an architecture system called‚ Teleprocessing. It uses the CPU and one computer to operate in a multi-user database system. The end-user uses a dumb terminal that will transmit information to a centralized computer. The information than is transmitted
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