...Hausman, the president of the Disposable Devices Sector of the Medical Products Company (MPC), welcomed the group assembled around the conference table. This promises to be a very productive meeting. A window of opportunity has opened up for us, and it appears that we finally have a chance to resolve, once and for all, some of the issues our European organization has been struggling with over at least the last six years. The recent acceleration in the projected growth rate for our hypodermic and diabetic products makes it possible to discuss possible changes without having to worry about consolidating plants or making substantial reductions in personnel at any plant. We now operate within an organizational structure that allows us to deal with the problem as a whole, and all the key people who will be involved in implementing the changes that may be required are in this room, participating in the design of those changes. You collectively control all the resources necessary to make it happen. Now I charge you with that responsibility. The task force assembled to plan the reorganization of European manufacturing for hypodermic products included the president for Disposable Devices in Europe, the managers of all the European factories producing hypodermic products, and several senior managers (including those responsible for strategic planning) that coordinated European activities with those in other parts of the world. It had been preceded by a three-day meeting in...
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...under the guidance of the Monetary Policy Committee in response to suggestions by the Treasury Committee of the House of Commons and the House of Lords Select Committee on the Monetary Policy Committee of the Bank of England. The Monetary Policy Committee: Eddie George, Governor Mervyn King, Deputy Governor responsible for monetary stability David Clementi, Deputy Governor responsible for financial stability Alan Budd Willem Buiter Charles Goodhart DeAnne Julius Ian Plenderleith John Vickers This report is also available on the Bank’s web site: www.bankofengland.co.uk The transmission mechanism of monetary policy Introduction and summary The Monetary Policy Committee (MPC) sets the short-term interest rate at which the Bank of England deals with the money markets. Decisions about that official interest rate affect economic activity and inflation through several channels, which are known collectively as the ‘transmission mechanism’ of monetary policy. The purpose of this paper is to describe the MPC’s view of the transmission mechanism. The key links in that mechanism are illustrated in the figure below. First, official interest rate decisions affect market interest rates (such as mortgage rates and bank deposit rates), to varying degrees. At the same time, policy actions and announcements affect expectations about the future course of the economy and the confidence with which these expectations are held, as well as affecting asset prices and the exchange rate. Second...
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...executing its programme. The ODA is publishing these as part of its Learning Legacy in the anticipation that they may be of use to future projects seeking best practice examples of tools and templates that have been used successfully on a large, complex programme. Purpose of the document, description and how it was used The purpose of the Programme Baseline Report was to provide a comprehensive summary of the ODA’s Olympic Programme, detailing scope, programme, budget and risk against which performance could be measured both internally and externally. The scope defined in the report includes all works required regarding site platform and infrastructure, venues, transport, and legacy transformation. This document was used to present a comprehensive statement of the scope of works required and the necessary budget for delivery. Once the document was agreed at the commencement of the programme, delivery of the works was monitored against the baseline and change could be managed robustly. Olympic Delivery Authority Programme Baseline Report Summary November 2007 report The report was updated in 2009 reflecting the status of the programme two years after the original report and after substantial completion of the ODA’s Games-time scope. Benefit to future projects This Champion Product is presented as an example for other projects to use in clearly defining and baselining scope at the initiation stage, thereby enabling a clear change...
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...Environmental Market Failure Negative Externalities Costs imposed on a 3rd party not involved with the consumption or production of the good (the external cost) Divergence between private and social cost MSC=MPC+MEC The MEC = the negative externality The free market price is less than the optimum price leading to over consumption Welfare loss Q: The market generated quantity (where privates crosses private) Q1: The optimum quantity (where social crosses social) Over consumption of Q-Q1 Unequal Distribution Effects Citizens in poor countries are more likely to be affected by the consequences of global warming that those in rich countries E.g. drought/flooding They are also a lot less likely to have consumed the goods and services which caused the global warming And a loss less able to protect them selves e.g. through insurance policies There are inequities between those who contribute to global warming and those who suffer from it Citizens of developed (polluting) countries pay less for their goods and services than the social costs of their production MSC=MPC+MEC Government Intervention to correct Environmental Market Failure 2 main types: Market based measures Designed to modify the price mechanism using strategies such as taxes and subsidies Government regulation Sometimes referred to as “Command and Control”, designed to create incentives for firms to reduce harmful...
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...Date: 20th April 2015 The report discusses Critically evaluate how effectively and sustainably Mercedes-Benz has utilised the marketing mix in a country of your choice evaluating: A. How Mercedes Benz may have utilised the Marketing Mix Theories B. How in your view Mercedes Benz may have practically deployed the marketing mix in your chosen country. Use a range of practioner sources to support your points. Mercedes-Benz firmly staked out its territory at top of the premium automobile category with its new tagline, "The Best or Nothing," trying to tie its long heritage of excellence in engineering, performance, styling, and safety to its latest vehicle designs. Mercedes-Benz is a brand that is well recognized around the world and it was rated among the top ten most recognizable brands in the world by "Business Week Magazine" and was purely into domestic production and exporting out for sales until the early 1990s when it started international production and now for the last decade it has successfully established itself in other countries due to the increase in demand and in the attempt to reduce cost and that has improved the sales of Mercedes-Benz with 1,279,100 units of Mercedes-Benz passenger cars up to 9% worldwide (2013 statistics) Mercedes and their deployment of the Marketing mix in the UK For any successful marketing a company has to have a good mix of its marketing strategy known as the 4P's which includes The right Product Selling it at the...
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...ESSENTIAL ELEMENTS OF CRIME Elements: Actus Reus – physical act or unlawful omission by the D Mens rea – state of mind or intent of D at the time of act Concurrence – actus reus and mens rea exist at same time Harmful result and causation – a harmful result caused both factually and proximately by D’s act Attendant circumstances – ACTUS REUS: Definition: physical/external, or objective, part of the crime Eser = Actus Reus is the comprehensive notion of the act, harm and its connecting link, causation, w/ actus [expressing the voluntary physical movement in conduct] and reus [this conduct results in a certain proscribed harm (e.g. causes injury to the legal interest protected in that crime)] Conduct crimes: punished for illegal act [e.g. driving while intoxicated] Result crimes: punished for result [e.g. murder] VOLUNTARY ACTS: Definition: The D’s act must be voluntary in the sense that it must be a conscious exercise of the will. Rationale: An involuntary act will not be deterred by punishment. Not voluntary // not liable: Conduct that is not the product of the actor’s determination. E.g. A shoves B into C w/ result that C falls to death. Reflexive or convulsive acts Acts performed while the D was either unconscious or asleep UNLESS the D knew that he might fall asleep or become unconscious and engaged in the dangerous behavior. MARTIN V. STATE: Police arrested drunk Martin at home and brought him to highway – convicted of being drunk on highway...
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...financing activities of a company during the period. The information in a statement of cash flows should help investors, creditors, and others assess: ▪ The company’s ability to generate future cash flows. By examining relationships between items in the statement of cash flows, investors and others can better predict the amounts, timing, and uncertainty of future cash flows. ▪ The company’s ability to pay dividends and meet obligations. Employees, creditors, stockholders, and customers should be particularly interested in this statement because it alone shows the flows of cash in a business. ▪ The reasons for the difference between net income and net cash provided (used) by operating activities. Many financial statement users investigate the reasons for the difference between net income and cash provided by operating activities and then they can assess for themselves the reliability of the income numbers. ▪ The investing and financing transactions during the period. By examining a company’s investing activities and financing activities, a financial statement reader can better understand why assets and liabilities increased or decreased during the period. Study Objective 2 - Distinguish Among Operating, Investing, and Financing Activities The statement of cash flows classifies cash receipts and cash payments into operating, investing, and financing activities. Transactions within each activity are as follows: ▪ Operating activities include...
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...S APC MPC APS MPS _____________________________________________________________________________________ 0 40 - 40 -- -- -- -- _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ 100 120 - 20 1.2 .8 -0.2 .2 _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ 200 200 0 1 .8 0 .2 _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ 300. 280 20 .93 .8 .07 .2 _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ 400. 360 40 .90 .8 .10 .2 _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ 500. 440 60 .88 .8 .12 .2 _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ 600. 520 80 .87 .8 .13 .2 _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ 700. 600 100 .86 .8 .14 .2 _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ [pic] [pic] Given the graphs below, calculate the change in government spending that is needed for this economy to achieve full employment. [pic] 1. MPC = ___change...
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...CHAPTER 1 INTRODUCTION 1.1 PRACTICUM INTRODUCTION According to Macmillan English Dictionary for Advanced Learners Second Edition (2011), practicum or practical means involving or relating to real situations and events. In the other words, it is the activity which not only about theory but facing the real world works. Students will be trained to apply the theory during this period. In Universiti Utara Malaysia (UUM), practicum is obligated for students in some courses as a fulfillment in the course structure. Practicum program is also designed to provide and expose student to real world problem situations before the end of graduation. From this program, students are given the opportunity to practice and apply their understanding and theoretical knowledge that have been learned in classroom with the help and guidance from the university and the attached organization. It is a platform of training and preparing the student before entering the job market. Practicum program is compulsory for all students pursuing Bachelor of Business Mathematics with Honors in UUM. This program can also be seen as a method to integrate the theoretical knowledge with the hands-on training. In this way, students would have an opportunity to apply their understanding of theories into the real working environment within industries. Practicum program provides opportunities for students to improve two vital skills which are soft kills and hard skills. It aims to help student to apply these two skills...
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...Technology and Motivation: are we able to measure its interaction? Tecnología y Motivación: ¿somos capaces de medir su interacción? Vicente Antonio López Rodríguez & Antonio Hidalgo Nuchera Departamento de Ingeniería de Organización, Administración de Empresas y Estadística Escuela Técnica Superior de Ingenieros Industriales Universidad Politécnica de Madrid vlopezr@etsii.upm.es; ahidalgo@etsii.upm.es Abstract Taking into consideration that work motivation can be enhanced not only by increasing the levels of responsibility, meaningfulness and feedback that are built into job (intrinsic motivation), but also by improving the workers relationships, the working conditions, and the incentives (extrinsic motivation), four groups of concrete motivators have been introduced in our motivational model. For these groups of concrete motivators, a number of core dimensions have been derived, measured and evaluated given us the opportunity to establish the relationship, in terms of indicators, between the installed technology and the motivation it inspires. There have been carried out two applications of the proposed model: one in the conditions of a university in Cuba and the other in several Mexican institutions. The results obtained show the validity of the model for determining the motivational quality of working environments. Resumen Tomando en consideración que la motivación en el trabajo puede mejorarse no solamente por el incremento de los niveles de responsabilidad...
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...SECTION A – HOW THEY WORK 1. The Basic Economic Problem 8 2. Specialisation and the Division of Labour 10 3. Production Possibility Frontiers 12 4. Types of Economy 15 5. Positive & Normative Statements 18 6. Theory of Demand 19 7. Theory of Supply 21 8. Equilibrium/Market Clearing Price & Price Mechanism 23 9. Consumer and Producer Surplus 26 10. Price Elasticity of Demand 28 11. Price Elasticity of Demand and Revenue 30 12. Price Elasticity of Demand along Demand Curve 31 13. Cross Elasticity of Demand 32 14. Income Elasticity of Demand 33 15. Price Elasticity of Supply 34 16. Elasticity Summary 35 17. Indirect Taxes and Subsidies 38 18. Labour Markets 41 SECTION B – MARKET FAILURE 19. Market Failure 45 20. Externalities 46 21. Externalities Diagrams 47 22. Merit and Demerit Goods 49 23. Missing Market: Public Goods 51 24. Imperfect Market Information 53 25. Government Intervention to Correct Market Failure 55 26. Factor Immobility: Labour Market 60 27. Unstable Commodity Markets: Agriculture 62 28. Case Study: EU Common Agricultural Policy 66 29. Government Failure & Cost-Benefit Analysis 69 SECTION C – EXAM TECHNIQUE 30. Multiple Choice Questions 72 31. Data Response Questions:...
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...TALENT MANAGEMENT AT GOVERNMENT -LINKED COMPANIES (GLCs) Transformation • Innovation • Partnership © August 2009 Malaysia Productivity Corporation Talent Management at Government Linked Companies (GLCs) Page 2 Table of Content Preface Introduction 3 4 Talent Management at Government-linked Companies (GLC) Transformation • Innovation • Partnership Talent Management and GLC defined 5 Insights on TNB (Tenaga Nasional Berhad) 8 Insights on MAS (Malaysia Airlines) Summary 11 15 Talent Management at Government Linked Companies (GLCs) Page 3 Preface In today’s global business environment, talent becomes the potentially powerful source of competitive advantage. Talent management is the fundamental building block to creating an organisation that is capable of learning, innovating and changing, as well as executing new processes. Finding, acquiring and retaining the right talent complemented by correct management and support are necessary for sustainable competitiveness. This research explores the aspects of talent management among Government-linked companies (GLC) in Malaysia. The Government’s Orange Book on Strengthening Leadership Development of December 2006 provides insights into the transformation processes of GLC in talent management. The Orange book sets out a framework to assess and strengthen company-wide leadership development through talent management. With these in mind, initiatives were taken to research talent management initiatives...
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...CHAPTER ONE 1.0 INTRODUCTION 1.1 BACKGROUND OF STUDY Breaking away from the shackles of ‘colonialism’ (British control) the oil rich Nigeria got her independence in 1960. Having being plagued by political instability, the negative impact of a prolonged military rule, corruption, unemployment, inadequate infrastructure and poor macroeconomic management for a long period of time, the nation currently undertakes certain reforms under a new reform minded administration. Prior to the present democratic rule, Nigeria's former military rulers failed to diversify the economy away from its overdependence on the capital-intensive oil sector, which provides 20% of GDP, 95% of foreign exchange earnings, and about 80% of budgetary revenues. The largely subsistence agricultural sector has failed to keep up with rapid population growth - Nigeria is Africa's most populous country - and the country, once a large net exporter of food, now must import food. Following the signing of an IMF stand-by agreement in August 2000, Nigeria received a debt-restructuring deal from the Paris Club and a $1 billion credit from the IMF, both contingent on economic reforms. Nigeria pulled out of its IMF program in April 2002, after failing to meet spending and exchange rate targets, making it ineligible for additional debt forgiveness from the Paris Club. In 2003, the government began deregulating fuel prices, announced the privatization of the country's four oil refineries, and instituted the National Economic...
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...Executive Summary Overnight rate is the target rate for the daily liquidity operations of the central banks and a signaling device to point out monetary policy position. The main purpose of this report is to discussion the history overnight rate in Malaysia and predicts the coming overnight rate this year. From 2004 until 2010, Malaysia’ overnight rate reaching an historical high of 3.50 percent in April of 2006 because the Bank Negara Malaysia need to stem the outflow of money and cool inflation pressures to ensure that Malaysia continues to have sustainable economic growth in an environment of price stability. Moreover, a record low of 2.00 percent in February of 2009 because a worldwide economic meltdown due the European sovereign debt crisis. Besides, the coming overnight rates that we predict will remain at 3.0 percent this year because the inflation had continued to increase mainly due to higher food and fuel prices 1.0 Introduction Overnight rate is the target rate for the daily liquidity operations of the central banks and a signaling device to point out monetary policy position. It is also the main tool for evaluating and examining liquidity conditions since it is very sensitive to illiquid conditions. And overnight rate is the interest rate that banks charge to another bank for lending immediately available funds overnight. At the end of a business day, banks usually end up with a deficit or surplus funds and based on the funds on hand, banks will determine...
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...Answers to Textbook Questions and Problems CHAPTER 1 The Science of Macroeconomics Questions for Review 1. Microeconomics is the study of how individual firms and households make decisions, and how they interact with one another. Microeconomic models of firms and households are based on principles of optimization—firms and households do the best they can given the constraints they face. For example, households choose which goods to purchase in order to maximize their utility, whereas firms decide how much to produce in order to maximize profits. In contrast, macroeconomics is the study of the economy as a whole; it focuses on issues such as how total output, total employment, and the overall price level are determined. These economy-wide variables are based on the interaction of many households and many firms; therefore, microeconomics forms the basis for macroeconomics. 2. Economists build models as a means of summarizing the relationships among economic variables. Models are useful because they abstract from the many details in the economy and allow one to focus on the most important economic connections. 3. A market-clearing model is one in which prices adjust to equilibrate supply and demand. Market-clearing models are useful in situations where prices are flexible. Yet in many situations, flexible prices may not be a realistic assumption. For example, labor contracts often set wages for up to three years. Or, firms such as magazine publishers change their prices...
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