...has shown that price stabilization and opening up may not be enough to achieve a rise in the trend rates of investment and growth. Recognizing this evidence, policy emphasis has shifted to pinpointing complementary policies that will lead an economy from stabilization to growth. The policy debate today focuses on reforms. Ghana immediately after independence made tremendous effort towards achieving full employment and socio economic development through public investment in medium and large scale enterprises. Notwithstanding the direct involvement and the effort of the government, the sector is saddled with a lot of constraints, including scarce capital, intensive technology, foreign exchange constraints, poor management, corruption and inadequate attention to economic viability and market prospects which has resulted in poor performance of the industries in terms of output and employment (Steel & Webster, 1992). Following an economic recession in the 1980’s which resulted in the retrenchment of workers from the civil service, the rationalization of production in the private sector under the Economic Recovery Programme (ERP) was launched in 1983, and the high population growth rate of 2.6% per annum, coupled with the inability of the medium and large scale enterprises to grow and expand over time to absorb the idle labour, the SMEs has become an important option and alternative source of employment. SMEs have been...
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...a downstream industry where firms compete to buy capacity in an upstream market which allocates capacity efficiently. Although downstream firms have symmetric production technologies, we show that industry structure is symmetric only if capacity is sufficiently scarce. Otherwise it is asymmetric, with one large, “fat,” capacity-hoarding firm and a fringe of smaller, “lean,” capacity-constrained firms. As demand varies, the industry switches between symmetric and asymmetric phases, generating predictions for firm size and costs across the business cycle. Surprisingly, increasing available capacity can cause a reduction in output and consumer surplus by resulting in such a switch. 1. Introduction Standard models of industrial organization treat inputs as being in perfectly elastic supply and their trade disconnected from the downstream market. However, in many real-world industries, the firms that compete downstream also face each other in the input market where supply is inelastic. For example, jewelry makers that vie for the same customers also compete for precious stones whose supply is limited; competing airlines divide a fixed number of landing slots at a given airport; software companies that produce rival operating systems draw from the same pool of skilled programmers; retailers of gas (petrol) use a common input that is in scarce supply; and so on. In this article, we investigate the interaction between efficient input markets and competitive downstream industries and find some...
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...M E M O R A N D U M TO | Mr Luke Tong | FROM: | Kylie Vanuti | DATE: | 1 March 2010 | RE | Proposal to Write a Feasibility Report for an Employee Work/Life Balance Program | Overview The following is a proposal to conduct a feasibility study into the need for, and the benefits of, instituting an employee work/life balance program for Brahm Industries. This proposal contains background on the importance of employee work/life balance on productivity, my qualifications, costs associated with the study, and a schedule for completion of the feasibility study. Attracting and retaining talent is crucial to an organisation's success and with the current trends in the labour market, retaining talent and ensuring business continuity is an ongoing challenge that requires careful human resource management. Need for a Work/Life Balance Program Research shows that to maintain a healthy lifestyle balance, a 24 hour day should be divided into thirds: one third for sleep, one third for work and one third for play. The trend in today’s workplace is for employees to work longer hours and as a result, when they arrive home they do not feel like exercising or cooking quality meals. As well, many employees are not taking their holidays. These two issues result in lethargy and absenteeism due to health issues and impact on employee productivity. A healthy staff will reduce costs to the organisation and assist in meeting budget requirements. Research also shows that work-life balance...
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...Theoretical Review In ages prior to now the formulation of an agriculture industry was conceptualized, arguably agriculture can be deemed as the first wide scale economic activity. It serves as the sustenance of mankind, the oldest most reliable energy source for human beings; food production. Throughout the ages agriculture as we know it has changed. As economies developed from subsistence to trade and developed trading economies so has agriculture. Currently, in today’s world, we see agriculture as an important industry to any nation. It serves as one of, if not the most, powerful poverty reduction sectors in any nation. This is so because agriculture dominates the rural areas; which are notorious for being resource immobile, isolated and poverty stricken. Henceforth, implications for agriculture and its development becomes an important concern for every nation. Labour being an important factor of production, and one which is most variable in the short run, an analysis on its influence in agricultural production seems almost mandatory. In this sector of interest, the labour available tends to diverge from those of other sectors, in terms of characteristics. Labour in agricultural production is characterized by “a high age of agricultural workers & low levels of educational attainment”(A.Bailey, 2012). This signifies relatively low levels of human capital in the industry and hence restricts the sector from utilizing skilled labour. What is human...
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...SUBJECT- MANAGERIAL ECONOMICS TOPIC- IMPACT OF WTO ON INDIAN ECONOMY FOR THE PAST 10 YEARS. NAME - NITESH SHUKLA DIV - C ROLL.NO -324332 INTRODUCTION WTO is basically an internationally recognized global organization which clearly defines the role of trade between the nations and to avoid conflict over it. The primary goal of WTO is to help various intermediaries conduct their business. It also aims to improve the welfare of the people of the member countries. CONCEPTS: * WTO is basically a place where trade problems are sorted out with each other which the countries face as a whole and also with each other. * The rules or better say agreements which are made in WTO are scrutinized and negotiated by the bulk of the world’s trading nations before being passed. * WTO not just supports carrying out trade in a peaceful way but also supports maintaining of trade barriers. Ex: protecting consumers and nation as a whole. * WTO works upon the rules framed with the participation of all the member countries with the prime focus on settlement of disputes. * WTO has a characteristic feature of ‘member-driven’ wherein...
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...Journal of Accounting and Economics 7 (1985) 85-107. North-Holland THE EFFECT OF BONUS SCHEMES ON ACCOUNTING DECISIONS* Paul M. HEALY Massachusetts Institute of Technology, Cambridge, MA .02139, USA Received October 1983, final version received September 1984 Studies examining managerial accounting decisions postulate that executives rewarded by earnings-based bonuses select accounting procedures that increase their compensation. The empirical results of these studies are conflicting. This paper analyzes the format of typical bonus contracts, providing a more complete characterization of their accounting incentive effects than earlier studies. The test results suggest that (1) accrual policies of managers are related to income-reporting incentives of their bonus contracts, and (2) changes in accounting procedures by managers are associated with adoption or modification of their bonus plan. 1. Introduction Earnings-based bonus schemes are a popular means of rewarding corporate executives. Fox (1980) reports that in 1980 ninety percent of the one thousand largest U.S. manufacturing corporations used a bonus plan based on accounting earnings to remunerate managers. This paper tests the association between managers' accrual and accounting procedure decisions and their incomereporting incentives under these plans. Earlier studies testing this relation postulate that executives rewarded by bonus schemes select income-increasing accounting procedures to maximize their bonus compensation...
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...Size Six: The Western Women's Harem Fatema Mernissi Ode Magazine August 2003 issue http://www.odemagazine.com/doc/6/size_six_the_western_women_s_harem/ Fatema Mernissi was born in a harem, but her female counterparts in the West suffer an even harsher fate. An eye-opening new perspective on gender roles and the male-domination of the multi-billion dollar fashion industry. Fatema Mernissi | August 2003 issue ‘I was born in a harem.’ That sentence marked the beginning of Fatema Mernissi’s first book. In the West, it provokes a smile, but Mernissi herself finds it hard to appreciate this reaction. The Western image of a harem differs from the Eastern reality. A harem is not a magical place with beautiful women, but a prison in which women are repressed, and men confronted with rebellious lovers aiming to spoil their sexual romps. In real harems fear reigns among the women while doubts plague the men. It is anything but paradise. In her fourth book, ‘Le Harem et l’Occident’, Mernissi, a Moroccan sociologist, examines the Western smile at the word ‘harem’. She writes about the suppression of women, sex objects, shame, sexual desires and cultural and religious concepts. Mernissi concludes that Western women are not much better off than their veiled sisters in the East. It was during my unsuccessful attempt to buy a cotton skirt in an American department store that I was told my hips were too large to fit into a size six. That day I stumbled onto one of the keys to the...
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...Balance sheet optimisation under Basel III ING Investor Day Koos Timmermans Vice Chairman ING Bank Amsterdam – 13 January 2012 Priorities 1 2 3 Transition to Basel III Balance sheet optimisation Return on Equity ING Investor Day - 13 January 2012 2 Strategy for the coming years is based on two phases 2012 End 2013 2015 Bank: Transition to Basel III • Manage through the crisis • Limit B/S and RWA growth • Execute B/S optimisation • Invest where needed to achieve operational excellence • Further simplify the business portfolio and the organisation • Prudent approach to capital and funding given unstable market conditions Bank Standalone • Grow deposits across the bank Basel III requirements met EC restructuring and Repayment of Dutch State complete • Evolve ING Direct units towards mature business model using loans from Commercial Banking • Grow the franchise without growing the balance sheet • Resume dividend after restructuring and State repayment ING Investor Day - 13 January 2012 3 ING has a good starting position to reach Basel III capital targets by 2013 Targets Core Tier 1 6.5% 3Q08 9.6% 3Q11 Actions • To be reached in 2013 ≥10% • Strong continued capital generation and RWA containment • To be reached in 2013 • Further reduction via balance sheet optimisation • To be reached in 2015 Leverage ratio 57 3Q08 29 3Q11 ~90% 3Q11 < 25 LCR1 > 100% • Further optimising the investment portfolio • Implementation...
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...Topics in Economic Analysis & Policy Volume 5, Issue 1 2005 Article 16 Price Discrimination and Smuggling of AIDS Drugs Richard A. Hornbeck∗ ∗ MIT, hornbeck@mit.edu Copyright c 2005 by the authors. All rights reserved. No part of this publication may be reproduced, stored in a retrieval system, or transmitted, in any form or by any means, electronic, mechanical, photocopying, recording, or otherwise, without the prior written permission of the publisher, bepress, which has been given certain exclusive rights by the author. Topics in Economic Analysis & Policy is one of The B.E. Journals in Economic Analysis & Policy, produced by The Berkeley Electronic Press (bepress). http://www.bepress.com/bejeap. Price Discrimination and Smuggling of AIDS Drugs∗ Richard A. Hornbeck Abstract Patent-holding pharmaceutical companies are shown to be imperfectly able to charge differential prices for AIDS drugs due to the potential for black market exchange. Thus, greater segmentation in the international market through additional barriers to smuggling would induce firms to charge lower prices for AIDS drugs in poorer countries. Without these additional barriers, widespread drug distribution through mandated lower prices or weakened patent protection in the developing world would result in smuggling, undercutting demand in developed markets and reducing firms’ research incentives. By contrast, further market segmentation would allow policy makers to go beyond the induced price cuts and remove...
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...Article Link: http://sloanreview.mit.edu/executive-adviser/2010-3/5231/the-case-against-corporate-social-responsibility/ The Case Against Corporate Social Responsibility By Aneel Karnani August 22, 2010 The idea that companies have a duty to address social ills is not just flawed, argues Aneel Karnani. It also makes it more likely that we’ll ignore the real solutions to these problems. Can companies do well by doing good? Yes—sometimes. But the idea that companies have a responsibility to act in the public interest and will profit from doing so is fundamentally flawed. Large companies now routinely claim that they aren’t in business just for the profits, that they’re also intent on serving some larger social purpose. They trumpet their efforts to produce healthier foods or more fuel-efficient vehicles, conserve energy and other resources in their operations, or otherwise make the world a better place. Influential institutions like the Academy of Management and the United Nations, among many others, encourage companies to pursue such strategies. It’s not surprising that this idea has won over so many people—it’s a very appealing proposition. You can have your cake and eat it too! But it’s an illusion, and a potentially dangerous one. Very simply, in cases where private profits and public interests are aligned, the idea of corporate social responsibility is irrelevant: Companies that simply do everything they can to boost profits will end up increasing social welfare. In...
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...A PROJECT REPORT ON A CASE STUDY OF CUSTOMER RELATIONSHIP MANAGEMENT IN RETAIL BOOK STORE CROSSWORD BOOKSTORE LTD. Submitted in partial Fulfillment of the requirement for the Award of Degree Bachelor of Business Administration Under of Tilak Maharashtra University, Pune -: Submitted By:- RAUSHAN KUMAR MISHRA P.R.N: 07110502048 BATCH: 2012-2013 Under the guidance of IRFAN AJMERI Vikas college of Arts, Science, & Commerce VIKHROLI, MUMBA TILAK MAHARASHTRA UNIVERSITY, PUNE-411037 (Declared as ‘Deemed to be University’ Under Section 3 of UGC Act, 1956 vide Notification No. F.9-19/85-U-3 dated 24th April 1987 by the Govt. of India) (Faculty of Distance Education) CERTIFICATE This is to certify that the project titled “A case study of customer relationship management in retail bookstore with reference to CROSSWORD BOOKSTORE LTD” is a bona-fide work carried out by Mr. RAUSHAN KUMAR MISHRA, A student of BACHELOR OF BUSINESS ADMINISTRATION semester 6th specialization in MARKETING MANAGEMENT PRN Number: 07110502048 Under Tilak Maharashtra Vidyapeeth, in the Year 2013. Head of the department Examiner Examiner Internal External Date: Place: University Seal COMPANY CERTIFICATE CERTIFICATE This is to certify that Mr. Raushan Kumar Mishra, PRN Number: 07110502048...
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...This page intentionally left blank R E V I S E D T H I R T E E N T H E D I T I O N AN INTRODUCTION TO MANAGEMENT SCIENCE QUANTITATIVE APPROACHES TO DECISION MAKING David R. Anderson University of Cincinnati Dennis J. Sweeney University of Cincinnati Thomas A. Williams Rochester Institute of Technology Jeffrey D. Camm University of Cincinnati Kipp Martin University of Chicago Australia • Brazil • Japan • Korea • Mexico • Singapore • Spain • United Kingdom • United States This is an electronic version of the print textbook. Due to electronic rights restrictions, some third party content may be suppressed. Editorial review has deemed that any suppressed content does not materially affect the overall learning experience. The publisher reserves the right to remove content from this title at any time if subsequent rights restrictions require it. For valuable information on pricing, previous editions, changes to current editions, and alternate formats, please visit www.cengage.com/highered to search by ISBN#, author, title, or keyword for materials in your areas of interest. An Introduction to Management Science: Quantitative Approaches to Decision Making, Revised Thirteenth Edition David R. Anderson, Dennis J. Sweeney, Thomas A. Williams, Jeffrey D. Camm, & Kipp Martin VP/Editorial Director: Jack W. Calhoun Publisher: Joe Sabatino Senior Acquisitions Editor: Charles McCormick, Jr. Developmental Editor: Maggie Kubale Editorial Assistant:...
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... Price spurred the merger of Chase Manhattan Corp. and Chemical Banking Corp., creating what was then the biggest U.S. bank and laying the foundation for JPMorgan (JPM) Chase & Co. Now he has a new message: It’s time to break up. Enlarge image Breaking Up Bank Conglomerates Hard to Do as Market Forces Fail Andrew Harrer/Bloomberg News Customers use ATMs at the Citigroup Inc. headquarters in New York. Customers use ATMs at the Citigroup Inc. headquarters in New York. Photographer: Andrew Harrer/Bloomberg News The stocks of five of the six biggest U.S. banks -- JPMorgan, Bank of America Corp. (BAC), Citigroup Inc. (C), Goldman Sachs Group Inc. (GS) and Morgan Stanley (MS) -- are languishing at or below tangible book value. That means the pieces are worth more than the whole, Price said. “Within the banks are wonderful assets,” said Price, who sold his fund-management company for $610 million in 1996 and now runs MFP Investors LLC in New York. “How long are the boards of directors going to stand by and take no action and let them be pounded? So far there’s no indication that any of these banks or boards of banks is willing to do anything about it.” Politicians and regulators have resisted calls from some investors to split up conglomerates that were assembled over two decades by executives such as former Citigroup Chief Executive Officer Sanford “Sandy” Weill and former Bank of America CEO Ken Lewis. These universal banks offered customers everything...
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...UNIVERSITI TUNKU ABDUL RAHMAN (UTAR) Faculty of Business and Finance Unit Plan 1 2 Unit Code & Unit Title: Course of Study: UBTI2013 GLOBAL MARKETING Bachelor of Marketing (Hons) Bachelor of Business Administration (Hons) Bachelor of International Business (Hons) Bachelor of Business Administration (Hons) Entrepreneurship Year One Year Two 201401 3 credit hours 2 hours lecture per week for the duration of 14 weeks. 1.5 hours tutorial per week for the duration of 14 weeks 7 Lecturer and Tutor: Lecturer / Tutor Mr. Neerjang Lama (Faculty of Business & Finance) neerjang@utar.edu.my Dr Falahat Nejadmahani Mohammad (Faculty of Accountancy & Management) falahat@utar.edu.my 3 Year of Study: 4 5 6 Year and Trimester: Credit Hour Lecture hours & tutorial hours 8 9 Mode of Delivery: Moderator Lecture & Tutorial Dr Gengeswari a/p Krishnapillai - Assistant Professor gengeswarik@utar.edu.my 10 Objective: The objectives of this unit are: To provide a theoretical framework for analyzing global marketing strategies and orientations. To examine the relationship between global marketing environments and global marketing strategies. To examine the concept of global marketing research and its impact to the global marketing. To import the knowledge of various entry modes into a foreign market place. To highlight various marketing mix strategies applicable to global marketing. 11 Learning Outcome: On completion of this unit, a student shall...
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...reform and open-door policy in 1978. Construction industry is playing a leading role in the rapid Chinese economic development. At the same time, China has also worked hard to encourage overseas investors to expand their investment in the construction industry. With its development over the years, China has established a legal system for governing construction activities. To participate in such a major market in the world, it is important to understand the legal system governing it and the impact of China’s joining the World Trade Organization. The Chinese construction laws and practice are still very different from the international norm. If foreign participants are to make a success out of doing business in China, they must understand the Chinese way of life. Particularly, they must prepare to adapt to an environment where new rules are created as circumstances and situations change. Keywords: Construction laws, legal system, construction industry, China, foreign investment, foreign designers and contractors, World Trade Organization (WTO) Introduction China has been developing at an amazing speed since it carried out reform and open-door policy in 1978. The rapid economic development in China has resulted in many construction activities and has nourished one of the largest construction markets in the world (Sjoholt, 1997). During the “Eight Five-Year Plan” period (1991–1995), the total production of the construction industry was valued US$210.6 billion (at rate of US$1 equivalent...
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