and/or costs. Usually‚ it may be possible to accelerate the process by reducing the activity durations. The activity durations can be reduced by dedicating extra resources. These resources can be human‚ tool‚ machine‚ alternative processing options‚ like the subcontracting. An increase in resource consumption naturally increases the cost and decreases the time. According to the resource consumption levels‚ the alternatives can be defined. Each alternative defines its own cost and
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Analyse the pecking order and the trade-off theories of capital structure and assess the extent to which these are supported by the empirical evidence. Pecking Order - Introduction The pecking order theory ( Donaldson 1961) of capital structure is among the most influential theories of corporate leverage. The pecking order theory is based on different of information between corporate insiders and the market. According to Myers (1984)‚ due to adverse selection‚ firm prefer internal to external
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DEFINING GLOBALIZATION Values can play a role in defining globalization. A definition of globalization as "Americanization" or‚ perhaps‚ the "McDonaldization‚" of the world presents globalization as a process driven by American consumer culture that rolls over other cultures. On the other hand‚ another definition of globalization would highlight its cross-cultural impact‚ taking into account the nature of globalization as a way cultures interact and learn from each other. Globalization101.org
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MARKETING CHANNEL Most producers do not sell their products directly to the final users; between them stands a set of intermediaries performing a variety of functions. These intermediaries constitute a marketing channel also known as Trade Channel or Distribution Channel. Marketing Channels are set of interdependent organizations involved in the process of making a product or service available for use or consumption. They are set of pathways a product or service follows after production‚ culminating
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to have. To get one thing that we like‚ we usually have to give up other things that we like. Making decisions require trading off one goal against another. This phenomenon is also called “trade-off”‚ which is the fundamental issue in economics that we always discuss. The opt-out revolution (Warner‚ 2003‚ as cited in McArdle‚ 2013) is a great example for trade-offs. Women nowadays study so hard at universities and subsequently obtain jobs that only a tiny handful of people can ever get. However
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PHYSICAL DISTRIBUTION AND LOGISTICS A company the size of McDonald’s requires the value chain to be increasingly important. Not only does McDonald’s want to add value for the customers‚ but also the firm looks for ways to improve the operations that makes McDonald’s a more efficient business .McDonald’s is constantly striving to add value to the firm for their customers‚ and in doing so‚ the firm has created efficiency in getting the products to the customers quickly and as fresh as possible
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What are the trades-offs for increased wages for unionized workers related to productivity‚ profitability‚ and ability to compete? When we hear the word union we think of trouble from within the work place. When we think of increased wages we get happy because to us that is extra money but half of the time we don’t know at what price that extra money comes at. As for productivity when it comes to union workers getting a increase in wages they have to work harder because the company has to be
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In life‚ we often live under uncertainties. There are always the next best alternatives and choices that could make us whirl in undecisive condition. Nevertheless‚ we need to deal with it by making decision. Every decision making process granted a final choice. The final decision can either be an opinion or an action. “In economics‚ it is thought that if humans are rational and free to make their own decisions‚ then they would behave according to the rational choice theory. This theory states
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Trade-Offs and the Bullwhip Effect A trade-off refers to any situation that entails losing an aspect or quality of an item in return for achieving another aspect. In the corporate context‚ the term is majorly used in cases where there is the need to get rid of some things in return for other better things (Khayum‚ 2003). There are a number of trade-offs that impact the operations of business organizations. Inventory Transportation Costs Inventory transportation costs refer to the costs of delivering
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that people face? What are trade-offs? What are some of the trade-offs that you may face? Some financial decisions that people face are whether they should go to college or buy a house‚ or whether they should buy something expensive instead of cheap. A trade-off is a balance achieved between 2 desired but incompatible features‚ or a compromise. 2. What is the cost of something? The cost of something is how much something is worth but it usually costs more than what it’s cost was to make. 3. What does
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