market for a quiet a larger period. The can go for aggressive pricing strategy. Threats: Consumer were deviating to other products As it was considered products for all uses it was very difficult for them for specialisation and other brands were coming into the market with specialisation like l’oreal for exclusive hair care products. DECISION TREE If VPJ serves the need and availability is there with the expected price and size required then consumers will go for VPJ. If it does not serve
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of the production of goods‚ there are obvious gains from specialisation and trade‚ if Zambia produces copper and exports it to those countries that specialise in the production of other goods or services. It is easy to see that if countries have an absolute advantage there are advantages to trade. However‚ what happens if one country has an absolute advantage over its trading partners in the production of a number of goods. Specialisation and trade can still result in there being welfare gains
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inequality. They argue that class divisions are no longer important and that society is now much more diverse an fragment. Postmodernists also argue that the economy has shifted away from assembly-line mass production and is now based on ‘flexible specialisation’ where production is customised for small specialist markets. The Post-Fordism system requires a skilled‚ adaptable workforce able to use advanced technology and transfer their skills rapidly from one specialised task to another. Post-Fordism
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of organisation like Specialisation (different departments‚ sections‚ tasks within organisation)‚ Structure of Authority (differential of management)‚ and Span of Control (number of employees each manger to charge of clear about his role in organisation). Current Structure The physical resource of company is labour is most important and it is connected with resource that the term Organisation is mainly used like specialization in (Functional Organisation). SPECIALISATION IN (FUNCTIONAL ORGANISATION):
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Learning experience Frito Lay’s is a worldwide leading manufacturer of snack chips and has 8 to 10 top ten famous brand with brand loyalty customers. They have skills and thereby increase the productivity of the labour. Specialisation and division labour Standardization of work may increase productivity by labour. Efficency is the key factor with less training. - Economies of scale Mass production will reduce the cost. As per test market‚ Frito
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would have to close the shop and consequently could lose income and profits Long Hours Sole traders work really long hours to keep their business afloat Limited Specialisation Sole traders carry out jobs in the business themselves Larger firms can afford to buy in specialist workers‚ sole traders may not gain advantages related top specialisation Limited economies of scale Higher average costs than larger businesses. Unable to gain economies of scale – don’t get the same discounts Difficulty of raising
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Cardiff Business School MBA Programme www.cardiff.ac.uk/carbs 01 01 Cardiff Business School: Ranked amongst the Best Business Schools in the UK Cardiff Business School has an international reputation for its research excellence. The latest UK Government Research Assessment Exercise has ranked the School fourth in the UK in terms of its research quality. 70% of the School’s research is ranked either ‘world-leading’ or ‘internationally excellent’. The School is ranked 2nd in the UK in
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are a many different types of protection‚ including embargoes‚ subsidies or financial backing‚ quotas; export incentive‚ voluntary export restraints; although the most important form of protection is the tariff. International specialisation is a type of specialisation refers to the more efficient allocation of the world’s resources in relation to the law of comparative advantage. Different countries have resources that vary in both quantity and quality they may also vary the suitable factor endowments
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Revision questions 1. Define the term “consumer rationality” and outline the conditions that must be fulfilled for consumer rationality 2. Using indifference curves derive the demand curve for a normal good. 3. With the help of a diagram distinguish between the income effect and substitution effect of change in the price of a normal good. 4. Using an illustration‚ explain the concept of market equilibrium
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! ! ASSIGNMENT: BUREAUCRACY IN NIGERIA AND USA GOVERNMENT SYSTEM. HOW DOES THIS AFFECT PUBLIC ADMINISTRATION IN NIGERIA AND USA SYSTEM.! !! ! What is bureaucracy? Bureaucracy as conceptually used in Public Administration is often associated with conduct of public affairs and the activities of public officials. The term bureaucracy literally means “rule by desks or offices‚” a definition that highlights the often impersonal character of bureaucracies. Therefore‚ bureaucracies are found in political
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