...The Business Environment BUS 100 – Introduction to Business Professor Denel Pierre In order to understand business and the economy one need to know the meaning of business and its purpose within society. Business can be viewed as a legal entity to sell goods, make goods or provide a service to individuals. It’s an economic system where a for-profit and a non-profit company can exist in providing goods and services. Businesses operate within a network of distributors and producers of goods, consumers’ who purchase goods, within a demographic area based on their needs and wants. Within this network how a business is structured and form can affect the profitability of that business; also, how businesses perform can affect the overall performance of a country’s economy. Describe the role of business in the economy Being part of a capitalistic economy businesses are the main and most important component of it. Businesses play a role in every section of an economy, such as; manufacturing, healthcare, retail and service are examples of what involves businesses. Without a network of producers and distributors there will be no economy, if businesses do not exist then consumers will have to produce, create, store, and sell items themselves, basically everyone would be fending for themselves for every need and want. (Kelly, M., & McGowen, J. (2012) In today’s global businesses environment the economic impact can be felt internationally. As businesses go through cycles of...
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...Zoom In Zoom Out Page 1 of 2 Business Management Essay COMPANY: Starbucks Subject; “Discuss the impact macro factors may place upon your chosen organisation in the future (1-5 years) and how the organisation may positively manage this”. When speak from macro and micro perspective we must bear in mind that these are two different phenomenon’s. Micro factors can be described as factors that people and businesses keep in mind when making decisions concerning the allocation of resources, whereas macro factors can be described as the factors that are kept in mind when making decisions regarding not only specific companies but industries as a whole and economies, more over micro environmental factors are the one’s over which the business has control for example price, product and promotion whereas macro environmental factors are the one’s over which the business has no control as such as social, cultural, technological and political factors. Businesses operate in markets keeping in mind changing situations not only of their market conditions but also the trends of the economies that they operate in, so that they can adjust and survive in accordance with new situations because adaptation is a must for a business to survive and prosper otherwise a business might be forced to cease operations and shut down. Starbucks is one of top five(Caribou coffee, Tully’s ,Coffee bean and tea leaf, Peet’s Coffee) businesses in a $11 billion industry. The coffee house industry grew from merely...
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...Lena Cavusoglu J. Mack Robinson College of Business, Georgia State University Master in International Business IB 8090 - International Business Environment Essay Exam # 1 Email: lcavusoglu1@student.gsu.edu 1. GDP per capita as an indicator: What are the limitations of this statistic in the context of emerging markets? GDP per capita is often used as an approximation of a country's prosperity. However, this approximation excludes significant factors such as the distribution of income, home production, underground economy, and social cost of production, in making a decision on the well-being of a country's inhabitants. First, emerging markets generally have an unbalanced distribution of income. There may be significant gaps in income between various groups of the society. In such markets, GDP per capita is a misleading indicator of the economic situation because a wealthy minority may hold a large share of GDP. GDP per capita might underestimate the fraction of society who has an income below the poverty threshold. Furthermore, the inequality in income distribution gives rise to a higher rate of increase in underground economy, which may make up a large fraction of GDP generated in a country. Consequently, many places have a higher GDP than what is reported. Second, there is a large domestic production in developing countries such as Turkey, which is not calculated in GDP since these products are not sold on the market. Homegrown vegetables and knit clothing are examples...
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...Academic assistance is the defined as an activity for teaching available for students in all subjects including science, mathematics, management, business studies, business and law and information technology. In the academic assistance, all subject related helps is being provided to the students to meet specific subject related queries. It is defined as a tutoring practice, which provides support to the students in solving particular subject related queries. Apart from this, this makes the learning process easy for the students through providing ready to learn or tailor made notes and helps in solving specific subject problems. Basically, academic assistance is the new method of tutoring by a large number of institutions to facilitate the students in their studies. Academic assistance encompasses all types of subjects from English to Management. In the academic content development, a number of subjects such as business studies, marketing, accounting and financial management, operations management, qualitative techniques, history, science, statistics, dissertation and its proposal development, human resources and organizational behaviour are covered. In pertinent to the given subjects, academic assistance is a kind of help provided to the students in developing particular topic related subjects content. Academic assistance is not only limited to provide a notes specific to subjects, but also it covers a full helps in completing the project steps such as authentic data collection...
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...literature and to your experience of entrepreneurship. This essay aims to evaluate the various traits identified with entrepreneurs, and then establish whether entrepreneurs are born with these traits, or whether, they are shaped and developed through their life experiences. Put simply the purpose of this essay is to establish whether entrepreneurs are ‘born or made’. This essay focuses on two distinct schools of researchers in the field of entrepreneurship: The more traditional group of researchers has focused on the personality characteristics of the individual, the internal factors, whilst a second group of researchers have taken a social cognitive approach. They look at the relationship between an individual and his or her environment. The external factors include culture, role models, work experience, education, and environment. This essay looks at the early definitions of an entrepreneur, evaluates the literature which supports the theory that entrepreneurs are ‘born’, and also evaluates the proposal that there is a relationship between the individual entrepreneur and their social environment, that is, entrepreneurs are ‘made’. Cantillon (1756) defined the entrepreneur as engaging in business without an assurance of profits; thus the bearing of risk being the distinguishing feature of an entrepreneur. Jean Baptiste Say expanded on this by making the entrepreneur the pivot of the economy, and a catalyst for economic change and development. The entrepreneur was seen as someone...
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...part in the context of economic development since their close involvement in the processes of manufacture, trading and profit generation. However, it also appears that the term entrepreneurship is not easy to understand although this subject seems similar to the term of entrepreneur. Based on this background, this essay will first fully analyze the principal subject of entrepreneurship reflecting various economists’ perspectives, and secondly illustrate the relationship between entrepreneurship and innovation, before suggesting that in general, entrepreneurship is closely linked with innovation and they are both significant elements in the development of economy. Furthermore, this essay will also illustrate that creativity and problem solving are effective capabilities in entrepreneurial processes of business planning and decision making in the realization of innovation. To understand the relationship between entrepreneurship, innovation and economic development, it is crucial and necessary to analyze the keywords in this statement. First of all, what is entrepreneurship? In fact, despite the potential that every individual may take a mutual view directly on the term of entrepreneurship, there is no fixed definition of this term. As is noted by Baumol (1968: 64), the concept of entrepreneurship is in fact obscure and it is not often the case that, this term can be defined explicitly in the theoretical scope. Traced back to the early history in economic context, the subject of...
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...Global Peter Drucker Challenge Essay Contest Social Responsibility and Managerial Ethics A Focus on MNCs Prepared by: Kidus G.Mehalu Addis Ababa, Ethiopia August 2011 Social Responsibility and Ethics of MNCs The 2nd Peter Drucker’s Challenge Social Responsibility and Managerial Ethics -A Focus on MNCs . 1.1 Introductory Remarks Managers today are usually quite sensitive to issues of social responsibility and ethical behavior because of pressures from the public, interest groups, legal and governmental concerns, and media coverage. It is less clear where to draw the line between socially responsible behavior and the corporation’s other concerns, or between the conflicting expectations of ethical behavior among different countries. This essay on social responsibility and ethics set externally to international managers and thus in a sense outside their realm of control, is the expectation of appropriate behavior. This behavior is measured both in terms of social responsibility of the organization as such, as well as ethical behavior of individual managers. In addition to these expectations there is an onus on organizations and managers alike to manage the relationship with the host country. Having noted this, I shall now move on to the main issues this essay has set out to address in the following manner: 1.2 Global Interdependence Global interdependence is a compelling dimension of the global business environment, creating demands on international managers to take...
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...to show growth each year. Red Bull is an Austrian based business developed and founded by Dietrich Mateschitz in the mid-1980s (Ukessays.com, 2015). A major strength of the company is its international presence. With sales in 166 markets worldwide, Red Bull is dominate in the United States and North America (Ukessays.com, 2015). Within the last 5 years the company has seen major international growth. Each country that Red Bull takes on as a possible new market presents their own individual challenges with individual economies to enter into. President and Congress Stimulation and Contraction of the Economy On September 8, 2011 U.S. President Barack Obama proposed the American Jobs Act on a nationally televised address to a joint session of Congress. This act is a measured approach that will boost job creation (Boushey, 2011). Inside the act includes a number of key proposals that in 2011 had bipartisan support, including infrastructure investments, putting teachers back in school, tax cuts for small businesses, and help for the unemployed (Boushey, 2011). While this may not directly impact Red Bull as a company initially, what this will do in turn is provide jobs and thus more money into the U.S. economy. The more jobs, the more money in workers pockets, and therefore the more money to spend. It is more likely that with this growth in the economic stability in the U.S. household the more likely that the individuals are to purchase products such as Red Bull. Another way...
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...Critical Analysis: "The Social Responsibility of Busine Critical Analysis of "The Social Responsibility of Business" from Milton Friedman In this essay I evaluate Milton Friedman’s essay: “The Social Responsibility of Business Is to Increase Its Profits” in 1970, on the Social Responsibility of a business and his theory, which is called the “Efficiency Perspective”. In every article and book that I have read about social responsibility, Friedman’s “Efficiency Perspective is placed centrally. During my research I found that Friedman is often criticised for being too classical. Friedman believes that manager’s foremost objective or even moral obligation to the firm should be to maximise profits always. There is however one condition that makes his perspective more complicated, not only for me, but also for several well-known authors. According to Friedman, the managers obligations should be carried out: “…while conforming to the basic rules of the society, both those embodied in law and those embodied in ethical custom”. This leads to one of the main questions of my essay: To what extent does Friedman’s “Efficiency Perspective” give foundation for responsible and moral international management behaviour? And need we any concern if it fails to do so? To fully answer the questions, I first need to explain the two different parts of the first question: responsible international management behaviour and moral international management behaviour. In businesses nowadays they...
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...HI5003 BM Economics for Business Sydney Tri 1 2016 (JPC) Topics for Individual essay DUE Week 4 Choose any One of the topics from the following list: • Micro economics – study of individual behaviour – individual industry like education, meat industry, tourism and agriculture. Choose any ONE industry in Australia from this list and discuss the reforms been done in that industry. • Cost of production- in any industry in Australia where costs of production are an important issue and analyse what is being done in the industry. May be the industry is switching to technology or/and some substitutes have been used to overcome this problem ! • Demand and supply of certain resources in Australia and factors other than price which affect demand and supply • Market structures like Monopoly, Duopoly, Oligopoly and Monopolistic competition in any industry in Australia. Structure of the Essay • Introduction – which topic 200 words • Body- Discuss the topic in the article and with some theory -700 words • Conclusion 100 words • Reference (Harvard Reference Style) Note= - More marks for research – choosing a good article on something specific topic from the above list - There is no need to explain the theory/concepts in the essay on its own - More marks for application and your comments on the topic - You need to attach the copy of the articles...
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...employers look for is the essay going to describe secondly. Thirdly, a general comment on the intended career path and target position after graduation. In addition, the writer will through the conclusion to state briefly what skills are vital to cope with target position after graduation. (Done, J. & Mulver, R, 2011) stated the term 'labour market' is used to describe the interactions between employers who need workers and employers. labour market is both complex and dynamic, that there have two fundamental forces driving the labour market, which are demand and supply. So the relationship between supply and demand is critical. In the graduate labour market, the people who are seeking a job is the supply, and the employer offering the job is the demand. The supply have to make they known in the marketplace, and the demand have to let people know they have a job and they want to fill. Under the comprehensive influence of economy, politics and society, the employment of graduate is confronted with a fierce situation in China. In the meanwhile, it also presents both unprecedented opportunities and challenges for current graduate employment. China's human market network stated that the percentage of the bachelor of business administration employed in manufacturing sector was 58.8% in 2010. The business administration possess wide range of knowledge, including planning, organization, direction, control and organize the relevant business operations and behavioral decision...
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...with special reference to PROFESSIONAL ETHICS Code 61432100 [final version January 10, 2012] Academic year 2011-2012 Period 3: January. Faculty of Economics and Business Administration: MSc Program Business Administration. Prof. dr. Eduard Kimman course assistant: Karin Tjeerdsma (k.t.tjeerdsma@vu.nl) Background This course, in the setting of various Master Programmes at the Faculty of Economic and Business Sciences, is about the morality of professional people acting in the context of a business organization. Business organizations or organizations as such do have a formal structure in which responsibility ultimately lies with a director or the board of directors. A business organization forms a context for a great variety of decisions. In a juridical perspective the organization is the bearer of numerous transactions. Inside organizations one may find remarkable opportunities for just or unjust behaviour, for moral or immoral behaviour, for situations of equality or inequality which deserve to be evaluated ethically. As FEWEB is a school for the study of economics and business administration in an economic perspective we focus on so-called “economic decisions” which are decisions being taken with some form of economic calculus. In this course we will spend time on questioning whether the economic or financial outcomes of these decisions are morally neutral or deserve some further moral investigation. Now, this course trains its participants what moral investigation...
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...SCHOOL OF ECONOMICS AND FINANCE FACULTY OF BUSINESS AND ECONOMICS THE UNIVERSITY OF HONG KONG Pokfulam Road, Hong Kong _____________________________________________________________________________________ ECON2102/2220 Intermediate Macroeconomics 2015-2016 ECON2102CD/2220CD Instructor: C. Chen Office: 901 KKL Office hours: Monday 1:40am – 3:00pm and Tuesday 4:40pm – 6:00pm E-mail: ccfour@hku.hk Semester: 2 Class meeting: ECON2102C/2220C: Monday 9:30am – 12:20pm in LE6 ECON2102D/2220D: Tuesday 1:30pm – 4:20pm in MB201 Mid-term Exams: ECON2102C/2220C: March/14th. (Mon.) 9:40am – 12:10pm in LE6 ECON2102D/2220D: March/15th. (Tue.) 1:40pm – 4:10pm in MB201 Teaching assistant: Mr. Yuk Kwan Wong. One extra class for ECON2102C: Please choose among March/7th. (Mon.) and May/3rd-6th. Q&A class for ECON2102CD: April/26th. (Tue.) Prerequisites: ECON1001/1210 introductory microeconomics and ECON1002/1220 Introductory macroeconomics according to the Regulations, Syllabus & Structure and List of Courses for the BEcon and BEcon&Fin programmes. The course is primarily for students majoring in economics and as such can be technical at times, involving the use of mathematics including elementary calculus. Slides are available at http://www.sef.hku.hk/~ccfour/#Teaching Textbook: Macroeconomics by Andrew B. Abel, Ben S. Bernanke, and Dean Croushore, 8th edition, Pearson Addison Wesley. Assessment: Homework (problem sets plus one short essay) Test (mid-term) Examination (final) 20% (10%+10%) 20% 60%...
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...Running Head: ECONOMICS ESSAY III 1 Economics Essay III Task: Write an essay that describes the relationship between regulation and market structures and how regulations affects the market. A Define Industrial Regulation Explain why industrial regulation exists, how it affects the market, provide entities affected by industrial regulation in terms of market structure, and why industrial regulation affects those entities. Economic regulation is a form of government intervention designed to influence the behavior of firms and individuals in the private sector (Econ Guru Web). Other forms include public expenditures, taxes, government ownership, loans and loan guarantees, tax expenditures, equity interests in private companies and moral suasion. It is the imposition of rules by a government, backed by the use of penalties, that are intended specifically to modify the economic behavior of individuals and firms in the private sector, regulation in general is aimed at narrowing choices in certain areas, including prices (airline fares, minimum wages, certain agricultural products, telephone rates), supply (broadcasting licenses, occupational licensing, agricultural production quotas, pipeline certificates "of public convenience and necessity"), rate of return (public utilities, pipelines), disclosure of information (securities prospectuses, content labeling), methods ECONOMICS ESSAY III 2 of production (effluent standards, worker health and...
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...concept in today’s society. The determination of a person or business with the struggling of the economic and the many challenging that the economic having to face in order to get economic back on track, enabling the economic to be able to grow with the new technologies for the 21st century. An entrepreneurial leader a person has to “innovative, creative, and will to be open for change” (O’Connor & Fiol, 2002; Stevenson & Gumpert, 1983). The word entrepreneurial leadership is a very important element for an individual to have the knowledge of the many different changes that occurs with the economic and the continuously evolved of the current changes with the growth of the new technology. The most common elements that the three authors focus on where: entrepreneurial leadership and the strategies in how they are related within today’s society. The three different authors also had some similar focus on the entrepreneurial leadership’s vision and their creative. The first important element that Steve Case’s believes is: “The Three P”. “People, Passion, and Perseverance” (Case, 2010). Case’s believes that when a person’s innovation, are risk takers have an entrepreneurship will improve our economic. He also believes that entrepreneurship is the underline of our future for the economic. Steve Case’s believes that entrepreneurship is a growth of success to businesses and the way people live their lives in the future economic (Case, 2010). Both Steve Case and James Kouzes, focus...
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