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Those who work domestically may not have the foresight or skill as do those who work within the target country. This can be particularly profitable if the product developed is one that has not be thought of before. By being the first mover, Kmart can capture market share unabated by competition that will undoubtedly ravage margins and potential profit. This flexibility is also helpful as a feedback mechanism in regards to product offerings within a particular country. For reasons of religion, customs, or societal pressures, many products offered in America may not be desirable in foreign countries. From Kmart's perspective this can have an adverse effect on earnings and customer satisfaction. As a result, it will be important for Kmart to outsource this service to become better informed about the merits of a particular country. By using foreign know how, and product specifications, Kmart can be a better position to provide products and services in high demand. We see this with countless examples of business altering product offerings in order to more effectively cater to a particular market. Examples include McDonald's serving veggie and tofu burgers in India due to religious concerns while Ford and General Motors created very small, cost efficient cars for China's rising middle class. As can be seen from these two examples, no specific country is exactly like another. In regards to business, outsourcing provides a means...
I believe if far outweighs the negative aspect of jobs being lost in America. This is because for one, with the emergence of one industry, another industry is subsequently diminished. We need only to look at American history to gain an accurate depiction of this. America began as an agricultural nation where farming was the primary industry. Through innovation, America began to enter in the industrial age. With the industry emerging, farmers and other agricultural business was diminished. This was primarily due to the new efficiencies incurred by the new industrial age. As a result, many individuals lost jobs in the same manner happening now. Why didn't the economy falter once this occurred? Did the economy turn to shambles with this shift, as many goods and services couldn't be purchased due to lost wages? With the benefit of hindsight, the answer is obviously no. The answer is no because those who lost jobs in agriculture learned new skills in the industrial age! As is the case now, those jobs displaced by outsourcing will surely be recovered by another emerging industry, mainly that of service and internet. As a result, I believe the benefits heavily outnumber the costs associated with outsourcing.
We don't look at their psychological well-being. it's almost as though, psychologically, they're a blank. And we know very little about the differences among black women. Some cope better than others. We don't know who they are, why they cope better, what resources they have access to. If we can understand that, then we can understand the needs of those who cope less well. What I am finding so
Economic Economists prefer to advance many reasons for the push from centralized planning to market mechanisms. First, centralized planning often worked well in the early stages of developing industry, but with the enormous growth and complexity of economies and technologies, centralized planning falls short in taking into considerations all of the variables that may affect the economic system (Alchian and Demsetz, 776). In such a complex economic system, therefore, centralized planning
While a cut down in budgets is inevitable, however, libraries should also try to increase their revenues. This can be achieved by promoting more subscriptions and grants through increasing dependency on technology (Budd 2005). A library might be able to attract grants if it goes digital. The director or management can make a presentation to convince the relevant authorities about how their grant will increase the library's productivity. This will
4) Consider a firm that has just built a plant, which cost $20,000. Each worker earns $5.00 per hour. a) Based on this information, fill in the table below. Number of Worker Hours Output Marginal Product Fixed Cost Variable Cost Total Cost Marginal Cost Average Variable Cost Average Total Cost 0 0 20,000 50 8 20000 20,250 5 5 10 20000 20,500 5 5 8 20000 20,750 5 5 6 20000 21,000 5 5 4 20000 21,250 5 5 85 1900 2 20000 21,500 5 5 71.67 1950 1 20000 21,750 5 5 62.14 b) In the example above, what price must the firm receive in order to keep producing in the short run? The price the firm must receive in the short run is the price that covers the variable cost, so the firm
The process would take centuries, but by Elizabethan times it had surely begun. Serfdom had all but disappeared from England, and money rents and wages had largely replaced other forms of compensation and exchange. The new importance of trade contributed to a profound change in attitudes, one that was beginning to re-shape society itself. In 1579, Thomas Churchyard defined as nobles, "Merchauntes that sail forrain countreys," a statement that
Economic development of Eastern and Western Europe over the course of the nineteenth and twentieth centuries obviously differed, but not to the extent that historians or economists have frequently imagined. Put simply, the economic histories of Eastern and Western Europe are frequently viewed according to either region's differing political organizations, with the capitalist West opposed to the Communist East, but in reality, the period of time defined by the rise