system is a system used to allocate resources because resources are limited. An economic system can be defined as a basic means of achieving economic goals which is inherent in the economic structure of a society (B.B.G Dictionary of Business Terms‚ 1987). The major function of an economic system is to work out the basic economic problems which are; *What is to be produced‚ *How is it to be produced‚ *For whom to produce and *How efficient is the use of resources. These economic problems are caused
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what are Galanz competitive and operation strategy and how does the operation strategy support its competitive strategy Galanz has built highly its industrial "Threshold" based on its cost advantage. In China‚ there is not any field other than the field of microwave-ovens that is featured by a "Highly Concentrated Brand" which even can be deemed as having entered the "Oligopoly" of the industry: The first corp of Galanz itself holds the market share of about 60%‚ the second corp of LG accounts
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Pulls people‚ who hold it‚ towards it. Mission Statement of business. States the business reason for the organization’s existence. Does not state an outcome. Contains no time limit or measurement. Provides basis for decisions on resource allocation and appropriate objectives. Defines current and future business in terms of product‚ score‚ customer‚ reason‚ and market price. Goals Results to be achieved. Describes ideal states to be achieved at some unidentified future time
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out. • Enable the actual financial operation of the business to be measured against the forecast. • Establish the cost constraint for a project program‚ or operation. The government budget is a set of procedures by which the government rations resources among claimants and control the amount each claimant spends. This is through accounting of the payments received by government (taxes and other fees) and the payments made by government (purchases and transfer payments). The annual budget is the
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points Many not-for-profit organisations (NFPs) feel they are poorly understood by government and the general public. Pressures to be more efficient have seen overhead spending reduced at considerable detriment to effectiveness and improved resource allocation over time (allocative efficiency). The sector is diverse‚ but NFPs display some common behavioural patterns: – Whereas the behaviour of for-profit business is driven mostly by their desire for profits‚ the behaviour of NFPs is driven mostly
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different paradigm of what is right or wrong and what is more important than another. Culture can evolve inadvertently‚ so‚ it should be planned ahead in time since before a person become a teenager. Culture would highly influence the decisions on resource allocation. This is because people tend to do things that they value the most in prior over other things. For example‚ if your family’s’ culture value more about maintaining relationships among the family member‚ you would likely to spend more time‚ more
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Water resources should be nationalised If the rivers are Nationalized we can get a massive improvements of Agriculture over complete India and there will be more productivity and consumer will get all goods at very cheaper price and can export too. According to me nationalization of water resources has its own pros and cons. The brighter side promises reduced inter -state conflicts‚ lower exploitation by individual states‚ higher portion of water available to farmers and greater monetary
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utilized as a “bottom-up” strategy to achieve development outcomes. "The most critical issue with international development is getting the right resources to where they are needed most and ensuring those resources are being integrated in a sustainable manner. The greatest failure of international development to this day is the wasting of resources due to a lack of comprehensive knowledge of the realities on the ground.” It is this lack of accountability and meaningful investment—“the tragedy of
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monitor‚ spokesman and a disseminator as he maintains personal contacts with others and by sharing stuff with them. (b) Vincent has approached towards Decisional role as he worked as a disturbance handler while gathering solutions for the problem and resource allocator while dividing the work in specialized groups and giving them tasks according to their nature of job. (c) Vincent played interpersonal role here as he worked as a figurehead while gathering everyone on same platform and then as a leader
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What the CEO wants you to know. Chapter 7: Making Groups Decisive 1. Synchronized organization- expands the capacity of the whole group 2. Lack of keeps businesses small and non potential 3. Join together to create mechanism that brings together Social Operating Mechanisms. (critical to an edge in execution) a. Creating a strategy to have lower prices Wal Mart’s Regional Managers observed prices‚ merchandise‚ and the over all ambiance of the stores. b. Fundamentals- Remember consumer
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