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Managerial Economics
What does your company produce? What utility or benefits does it provide to the consumer? How do consumers use it?
The company is one of the top luxury carpet manufacturers in the world. The benefits provided by the luxury carpets include; elegance, class, status, comfort and durability. The primary use of luxury carpets by the consumer is for decoration of home or office interior spaces.
What is your company's history with this product or service?
Deluxe Carpets has been in the market for more than 250 years. This company is based in rural England, collects plants from all over the world and then exports a major portion of their turnover. It is the biggest market including United States.
What does the competition in the market look like for this product or service?
There is good competition in the market because some other companies offer low cost alternative products.
What actions has your company taken to remain competitive?
A company-wide change program was started. Through this program, changes were made in the organizational structure, including layoffs of managers and 15% of workforce. Fresh talented people of the industry were hired on the managerial posts in the company. To make the organization more productive, changing the attitudes and skills of the workforce...
Through this mechanism, either you bargain with customers or set prices by profiling your customers and set personalized prices for them based on previous trend (Glass, 2016). We are in luxury carpet business, and our customers are usually well-off. Due to this reason, they don't hesitate to pay for their desired item.
In order for your proposal to generate more profits, will you recommend markup or margin pricing? Why?
In markup-pricing, the firm calculates the cost of the product before adding a proportion of it as markup, therefore it will be recommended. The company decides what amount is to be marked up. Actually, prices that are set through this method cover the production-cost and maintain sufficient profit margin to enable the company achieve its target rate of return, (Boundless, 2015) that is, the percentage of profit is decided by the company.
What is the current…
Economic Events and Economic Models A Micro-Economic Event An Analysis of the Motivations behind Kroes' Proposals Price Controls: Dissenting Views A Macro Economic Event Probable Causes of Inflation Probable Effects of the Increasing Inflation Proposed Remedies Economic events take place around us on a daily basis. An economic event could be a move by the government to stem inflation by regulating interest rates or even the imposition of price controls by relevant agencies in regard to certain products
Managerial accounting intended provide managers information make decisions run company successfully. The information reliable, timely complete. Its provision,, dictated accounting management information system place. Managerial accounting The fastest growing and developing field in today's society is indubitable the IT sector, which has transformed from a closely regulated and controlled experiment into a force impacting every aspect of the daily life, from the preparation of breakfast to the completion of complex professional chores.
Managerial benefits of CSR CSR improves brand image CSR increases sales CSR increases Effects of CSR on customer satisfaction CSR increases the demand of goods and services CSR improves corporate performance CSR affects employees, investors, and customers positively CRS boosts recruitment and worker relations This paper examines the concept of business ethics and corporate responsibility through the lens of the social contract theory as well as the agency theory. Much of it however is on the social contract theory
This is because this thesis has some limitations that should be observed when taking into consideration the importance of the thesis and its assistance. This thesis has concentrated on a subject that has been an extremely large and leading one, that is, the managerial impact on small businesses and the underlying reasons being reluctance shown by small business managers to make use of information technology and Internet. Undoubtedly, this
Such processes are expensive and time consuming. In the case of the temporary staffs, the processes of selection and recruitment are less complex as they would revolve around referrals from current employees, who would recommend a teenage child, a friend or another acquaintance looking for a temporary job. Still, in the case of the third alternative, such problems and complexities would not be raised at all. d) Employee skills The general
Leaders Richard H. Anderson, CEO of Delta Airlines Richard H. Anderson graduated from Houston University with a Bachelor's degree in Science, and holds a Juris Doctoral Degree, earned from South Texas's Law College. Anderson was Northwest Airlines' Chief Executive between 2001 and 2004 (his overall service for Northwest Airlines stretched between 1990 and 2004), and held the same position at Ingenix (or OptumInsight, Inc.) between 2005 and 2007, before taking the Executive