THE PROCESSES OF BUSINESS MANAGEMENT

Sample details Pages: 5 Words: 1641 Downloads: 1 Date added: 2017/06/26 Category Business Essay Type Research paper Did you like this example? Introduction Here we understand what research is?; it is another word for gathering information or facts or data. The more information, facts, or data we have is helpful to solve the problem and make our own good decisions. Business Research subject end result is action and implement the advance knowledge we gained by contributing to our own challenging life or future business aspects. Don’t waste time! Our writers will create an original "THE PROCESSES OF BUSINESS MANAGEMENT | Reflection" essay for you Create order We interact with everyday people of ordinary people and extra ordinary people such as teachers, students, scientists, professors, scholars, business owners, librarians, book keepers, politicians and many more which was the result of advance knowledge created in the past to gather information. Accordance, to the three year degree program and final year first semester one subject; business research helpful students to be aware of their surroundings and accommodating to answers to the business related questions. Subsequently, we have learnt about how research contributes to management, identification of the research process such as; discovering the management questions and research questions, research proposal, research design, data collection and preparation, data analysis and interpretation, report writing and etc. Also, how to use the secondary data to answer management questions, identify and apply appropriate designs for conducting specific business research, how sampling is acc omplished in survey research and the difference between probability and non-probability sampling and formulate testable research hypothesis based on management questions. Learning Experiences 2.1 Learning Experiences of Business Research Learning is all about gaining knowledge of or skill in by study, experience or being taught. Learning experience is observing and reflecting on the consequences of an action in a situation. Concrete experience Testing implications of Observations and reflections concepts in new situations Formation of abstract concepts and generations Figure 1. The experimental Learning Model Learning has considered as a four-stage cycle. Gradual experience is the basis for observation and reflection. Today, successful manager or administrator is differentiating from each other by not having the knowledge or skills by their capability if adopt and familiarizing the changing demands of their job and career by using the learning skills. There is a mortal about learning such as one learns or he/ she does not. More explains mortal about learning is deficient of accepting the learning process. 2.2 Learning processes of Business Research Coventry University in United Kingdom provides with vast opportunities and links for the career path of a business student. Academic career gives the opportunity to select the career path in chosen and pretend field. Combination of academic and business link provides the authority for both educational and the corporate sector experiences. Most of the research standards in the reality of business as most of the theories are ratify in real world of business. Research simply means a search of facts solutions to problems and it is systematic and methodical investigation. In addition, it is an organized inquiry and increases knowledge. In the environment, there are different issues such as socio-economic, health problems, human relations, marketing, production, finance etc and research provides answers to those problems taking place in the society, industry and trade. A research project allows students to apply theory to, and or analyze more issues that are general. It offers student s an opportunity to identify and select a research problem and investigate it independently. In Business research we learn about research concepts which explains definition and application of research and formulating and clarifying the research topic, literature review which conduct how to do a literature search and critically review and analyze the literature, the research proposal, research design, data gathering sampling and questionnaires such as identifying the population sampling procedure, advantages; data gathering questionnaires as different source of data collection, data gathering interviews and alternatives, reflective journal writing and reporting results by written format and by presentations. Accordance to the Business Research all ten topics are interesting and effective. But the most interesting topic was data gathering, sampling and questionnaires; which is a vast area of business research subject. Business Research methods or techniques vary from size of the compa ny and information required. For an example, customer research might engage with customer feelings or experiences about utilizing a product or service by using customer satisfaction methods such as questionnaires, seminars or interviews. When researching public information, business statistics on financial and educational information in relates to product usage, customer demographics and hours of television viewed by customers in a one geographic area will be available as a end result of the research. Sampling help us to overcome constrains and to carryout, our work effectively and make our judgment accurately. Besides, it helps limit the item selection in a suitable manner without making unnecessary expenses with budgetary requirements. Sampling procedure, which contains with nine topics, was new to learn in business research subject. It helps in decision making. Learning reasons of Business Research Business Research is important within the organization or outside the environment issues to be solve and find the solutions. Research helps to solve existing decision-making problems, which makes the organization more profitable and solve problems of immediate concern. Most organizations put much effort to gather information before they make decisions. Research has need of effort, time, and money to have data collection to make good decisions. Business Research consists of a program which tells and show how appropriate the collected and scrutinized information that always supportive for good decision making. When the research and analysis are completed, the result is communed to management. This is why business research is important as it provides information; concerning critical issues that have an influence on the target market and marketing mix. In addition, business research is corporate to modify the market and solve the organization uncorrected or wrong data to remote regi ons at affordable cost and business to earn more profits. Business fail to continue in resourceful way without business research and it is vital for every field of business. Therefore, we cannot run our businesses without business research. When learning about the business research, it helps us to conduct our own research to benefit our business and future. From time to time, good blueprint of instructions helps with the research process. Learning Experience in relation to academic development I have been involved in Business Research by identifying and classifying dissimilar diversity learning methods and the end result of it. The intension of this research of this business research is to recognize unusual methods have been taught and implement to solve organizations problems and to identify the learning styles and suitable learning modes which is available and to improve with the design of learning experiences. There are two goals of academic development; such as particular detailed subject matter and learning about strengths and weaknesses as a learner. Understanding on the subject matter and strengths and weaknesses helps and support a framework for continuing learning on the job. Learning experience is not restricted to the classroom but also turn out to be an essential and unambiguous work. On the job experience; becomes a focus for testing and exploring new ideas. Learning Experience in relation to Professional Development In Business Research studies practical professional development of statistical power is important as; planning of sample sizes prior to gathering data used to evaluate statistical hypotheses. This helps to conclude apposite sample size; has important limitations in actual business research studies. More important relative to research proposal and main report in sample size approach is available with statistical testing of multiple hypotheses using different testing methodologies. Therefore, dissimilar hypotheses need to be involve with; correlation or regression analysis, the use of structural equation modeling, analysis of variance. As a result, the employ of the sample size strength of mind in decision making and in the main report most such studies and at work. In addition, this subjects directions for future business too. It helps for my research goals such as; product or service I want to sell or to determine potential market, size of the competition or to test the effectivene ss and the market position of the product and service of my future intend business. Learning Experience in relation to personal development Own personal development plan is a key fundamental part of our career journey. During the three year degree program thorough knowledge about the subject, diversity of skills that we develop is essential to become an independent researcher in everyday life. We need to understand and identify the starting point and where you want to be to sequence to plan well-organized, resourceful and competent direction to obtain where we want to be in future or in a business position. Therefore, business research program has been helpful to indentify my current skills and in order to proceed with all the design took to track the career journey. In addition, I have learnt; a range of social research methods techniques and skills and how they has been used to address particular research questions in management and business settings, survey design and analysis, a range of qualitative research methods, a range of quantitative methods of analysis, project planning and development, ethical problems and issues related to social research and management research in particular and how research in various management specialism have developed. Conclusion In business, environment research is a essential key our everyday decision making. It helps to find out the wrong information and save money and time. Research is significant success as acquiring day to day life challenges and decision making. Research plus action will assume a successful researcher. Research aim is to resolve the business or everyday life issues or problems, which occurred before or present with profitable or immediate concern. This helps to understand how research impact on our everyday and business decision making. Most people do not put much effort to collect or back up information or data. Only few do back them up. There is a risk or cost of making important decisions without gathering information for evidence for future reference.

The Amazon Rainforest Of South America - 1503 Words

The Amazon Rainforest of South America spans over nine countries with the greatest portion nestled in Brazil. It is considered the largest rainforest in the nation. Most notably, it consists of approximately one-fifth of the total tree vegetation currently growing around the world. Furthermore, the Amazon Rainforest is home to a commodity of natural resources, from tropical hardwoods to oil to minerals to plant, fungi and bacteria used in medicines. Similarly, over five hundred species of mammals inhabit the area, along with numerous birds, fish, reptiles and insects distinct to the environment. Unfortunately, several of the animals have become noted on the endangered species list. (Amazon Aid Foundation) Above all, the Amazon Rainforest is a key element in the survival of mankind, not only for local villagers, but around the world. According to World Wild Life’s website: â€Å"There is a clear link between the health of the Amazon and the health of the planet. The rainfor ests, which contain 90-140 billion metric tons of carbon, help stabilize local and global climate. Deforestation may release significant amounts of this carbon, which could have catastrophic consequences around the world.† (WWL) In addition, the rainforest is imperative to our ecosystem of water (i.e. the circulation, filtration and evaporation). Ultimately, plants within the rainforest not only affect CO2 levels, but also affect global weather conditions in terms of transpiration, or the cycling ofShow MoreRelatedImpact Of Deforestation On The Amazon Rainforest Of Brazil, South America, Impact The Environment?1493 Words   |  6 PagesEvaluation Research Summary The question researched was â€Å"How does deforestation in the Amazon Rainforest in Brazil, South America, impact the environment?† The topic of deforestation in the Amazon was chosen as there is much concern about the problem and for the future of the Earth. There were different research processes used to discover new information about the problems in the Amazon rainforest such as, an interview with a person who currently lives in Brazil, annotating books, journals, internetRead MoreAmazon Rainforest Ecosystem Of The Rainforest820 Words   |  4 PagesThe Amazon Rainforest The Interdependence of plants, animals, and humans is integral in the Amazon Rainforest ecosystem of the tropical rainforest biome. The key features of the Amazon Rainforest is the Amazon River. The Amazon Rainforest goes through Brazil, Peru, Colombia, and many other countries. Colombia has 10%, Brazil has 60%, and Peru has 13%. 80-90 degrees during the day and 50 degrees at night is the temperature of the Amazon Rainforest. There are dry and wet seasons. it gets 9 to 10 feetRead More Brazil Facts Essay659 Words   |  3 PagesBrazil Introduction You probably heard of Brazil but, do you know much about it? Brazil is a beautiful place or country, in South America. It’s great for tourists’ sites; it has amazing land features, and especially cool culture and history. Brazil has a tremendous amount of nature and folktale. Brazil was found actually, over 8,000 years ago. The Portuguese were the first European settlers to arrive there. The journey was led by Pedro Cabral who began in the 1500s. When they finally got thereRead MoreBrazil : The Red Wood Of South America1624 Words   |  7 PagesBrazil; the Red Wood of South America Envisage a country named after a wood product. Such a country exists in Eastern South America. Brazil has been tremendously influenced by European life and evidence of that can be perceived through their culture. Made up of various types of resources, Brazil has continued to flourish. However, problems have arose along with the growth of the population. Deforestation, an outcome of human action has affected the millions of exotic species that live in one ofRead MoreAmazon Forests : The Amazon Rainforest1577 Words   |  7 Pagesacres, the Amazon rainforest stands as an amazing wonder in the world. The majority of the Amazon rainforest lies in Brazil, but also is found in Bolivia, Ecuador, Peru, Colombia, Venezuela, Suriname, French Guiana, and Guiana. Covering such a vast amount of land makes this region one of the most diverse ecological habitats in the word, but, while recognized as a priceless jewel of nature and a key factor in the global climate control, greed and selfishness are quickly destroying the Amazon RainforestRead MoreDeforestation Is A Global Issue1630 Words   |  7 PagesIntroduction Deforestation in the Amazon rainforest is the cutting or burning down trees. Two main reasons the Amazon rainforest is being cleared is for raising cattle and growing crops (Figure 1). This is because the production of beef and soy has increased.1 The Amazon rainforest is located in countries throughout South America. The area this report will look at is Brazil, which is the largest country in the region. The majority of deforestation in the Amazon takes place in Brazil.2 There areRead MoreThe Amazon Rainforest : The World s Air Conditioning System Essay1413 Words   |  6 Pages The amazon rainforest is in south America between brazil 60% and Peru 30% in the amazon forest. However, it is located near the equator that is 2.1 billion square miles. The amazon rainforest is important because we rely on the ecosystem culturally, some things that we can do to save the rainforest is to get more involved with the community, multiculturalism, the producers, secondary producers and consumers. how to fight back to save the amazon rainforest. Multiculturalism of the amazon is theRead MoreEssay on The Effects of Deforestation of the Amazon Rainforest1093 Words   |  5 Pageslargest rainforest is the Amazon River Basin, located in South America. The Amazon is home to many species of animals, insects, plants and trees. Many of the trees and plants in the Amazon produce about twenty percent of the oxygen on earth, and absorb carbon. However, the Amazon is decreasing in size every day due to the ongoing deforestation of the land. Deforestation is when the forest of the land are cleared or destroyed, in order to be used for other actions (â€Å"Deforestation†). The Amazon is twentyRead MoreTypes Of Climate Essay738 Words   |  3 Pagesthe most harsh climates in Peru in the Amazon Rainforest. It runs through 8 countries, making it the largest tropical rainforest in the world. The area is 2.124 million mi ² and is located in South America. Even during low water season, there is still rain in the Amazon Rainforest. The average temperature is 88 degrees Fahrenheit, while the maximum temperature is 70 degrees Fahrenheit (â€Å"Rainforest Maker†). Heat, humidity, and rain is what the rainforest is made up of and is perfect for wildlifeRead MoreThe Issues Surrounding The Amazon Rainforest1206 Words   |  5 Pages The Denver Academy has recently researched and defined some of the important facts surrounding the Amazon rainforest. In 2017, the Amazon rainforest covers 2.1 million square miles of South America. It is a vast ecosystem home to 10% of the world’s known species (The Denver Academy). They go on to say that the trees are so dense, when it rains, it takes 10 minutes for the water to break through the forest roof. The destruction of this habitat could lead to extinction of these species, and have devastating

The Holocaust and Nazi Germany Essay - 1100 Words

The Holocaust is most well-known for the organized and inhumane extermination of more than six million Jews. The death total of the Jews is this most staggering; however, other groups such as Gypsies, Poles, Russians, political groups, Jehovah’s witnesses, and homosexuals were targeted as well (Holocaust Encyclopedia: Introduction to the Holocaust). The initial idea of persecuting select groups of people began with Adolf Hitler’s rise to power in Germany. In January 1930, Hitler became the Chancellor of Germany after winning over its people with powerful and moving speeches. From this point forward, it was a goal for both Hitler and his Nazi Party to rid the world of deemed â€Å"inferior† groups of people (Holocaust Encyclopedia: Timeline†¦show more content†¦The Nazis and Hitler used extreme propaganda in attempt for people to accept their actions. Hitler made the Jews out to be a problem and a threat to the purity and perfection of German society (Holocaust Encyclopdia: Nazi Propaganda ). In Hitler’s speech to the Reichstag in September, 1942, he states, â€Å"In my speech before the Reichstag on the first of September 1939, I spoke of two matters: first, since we are forced into war, neither the threat of weapons nor a period of transition shall conquer us; second, if world Jewry launches another war in order to destroy the Aryan nations of Europe, it will not be the Aryan nations that will be destroyed, but the Jews...Once the Germans Jews laughed at my prophecy. I do not know whether they are still laughing, or whether they are laughing on the other side of their faces. I can simply repeat — they will stop laughing altogether, and I will fulfill my prophecy in this field too.† This speech fully shows the hatred that Hitler and the Nazi Party had towards the Jews, and how set they were on eliminating the Jews (Jewish Virtual Library: Hitlers Threats Against the Jews). This hatred and irrational thought of the â€Å"threat† Jews posed to the German race led to Hitler’s â€Å"Final Solution†, which was ultimately to fully eliminate the Jewish race. Hitler used concentrations camps as his mode of carrying out his plan and fulfilling his prophecy. (Holocaust Encyclopedia: TheShow MoreRelatedThe Holocaust and Nazi Germany1477 Words   |  6 PagesIntroduction (150 words) As a result of the Holocaust, a clear link can be made between Nazi racial ideologies and Hitler’s foreign policy. Firstly, Nazi ideologies were a fundamental facet to the Holocaust, as it included the philosophies of who constituted as a Jew, and the consequent treatment of those diagnosed as Jews. Secondly, Hitler’s foreign policies were another significant aspect of the holocaust, as it was a fundamental part in the construction of Hitler’s ultimate goal. Thirdly, theRead MoreThe Holocausts Effect on the German Jew Essay1745 Words   |  7 Pages Adolf Hitler came to power over Germany in January of 1933. He hated Jews and blamed them for everything bad that had ever happened to Germany. Hitler’s goal in life was to eliminate the Jewish population. With his rise to power in Germany, he would put into action his plan of elimination. This is not only why German Jews were the main target of the Holocaust, but why they were a large part of the years be fore, during, and after the Holocaust. Hitler’s â€Å"final solution† almost eliminated theRead MoreSingling Out the Jewish People743 Words   |  3 PagesWorld War II the Nazi party took over in Germany. At its head was a man named Adolf Hitler. For some reason Hitler hated the Jews, we see this in World War II with the Holocaust. The Holocaust started in 1933 when Hitler rose to power; he made a plan in 1941 which was to eradicate the whole Jewish population. Hitler called this plan the â€Å"Final Solution† (An Introductory History of The Holocaust). Why did Hitler and the Nazis single out the Jews for genocide? And in what ways did the Nazis single themRead MoreDifferent Perspectives of The Jewish Holocaust 1641 Words   |  7 PagesThe Holocaust tends to be a bitter memory and an unpleasant subject to discuss. Although this event took place many years ago, repercussions are still present in the twenty first century. Especially in Germany, the Holocaust n ot only influences patriotism, but it also influences education and immigration policies. In contrast to other countries where nationalism is common, Germany has been forced to lessen the sense of nationalism in order to dispose false beliefs some individuals have of GermanRead MoreAdolf Hitler : Leading The Genocide1182 Words   |  5 PagesPer. 5 23 March 2015 Adolf Hitler: Leading the Genocide The Holocaust was the mass murder of Jews under the German Nazi regime in 1941 to 1945. There are many components of this significant event. One important component was Adolf Hitler, the leader of the Nazi Party and Chancellor of Germany from 1933 to 1945. Hitler contributed to the execution of Jews during WWII through his ideology, his dictatorship, and his leadership of the Nazi Party. To initiate, Hitler’s early life had a great impact onRead MoreUndisclosed Victims of the Holocaust 774 Words   |  3 PagesVictims of the Holocaust When Germany was defeated in World War I by Britain and France they were forced to sign the Treaty of Versailles, which proclaims Germany to be responsible for all reparations of the War. It was easy for Hitler and his Nazi party to blame the wealthy Jews for not offering enough money to the country, but his anti-Semitism was completely aimed towards the Jews. By the end of 1920, the Nazi party had about 3,000 members according to A Teacher’s Guide to the Holocaust. With an armyRead MoreThe Holocaust: The Biggest Hate Crime in the World1418 Words   |  6 PagesThe Holocaust is consider one of the biggest hate crime that the world has witness. It is a hate crime due to the fact that is directed toward a specific group of people. Individual chosen or group chosen because they represent a group believed to represent a group that the perpetrator is biased against. Everything started when Adolf Hitler became the leader of Germany, form 1934 to 1945. Adolf Hitler was born in Au stria in 1889. Hitler rose to power in German politics becoming the leader of theRead More The Origins of the Holocaust Essay1547 Words   |  7 PagesThe question of the origins of the Holocaust has been studied by scholars using several differing approaches. These interpretations are outlined by Donald Niewyk in The Holocaust as the long history of European anti-Semitism, the charismatic personality of Adolf Hitler and the influence of modern â€Å"scientific† racism or eugenics. These interpretations are illustrated in the works of John Weiss, Ian Kershaw, and Henry Friedlander. Niewyk uses Weiss to identify the interpretation of ancient anti-SemitismRead MoreThe Holocaust : The Destruction Of The Jews1717 Words   |  7 PagesThe Holocaust is by far the worst genocide ever committed, with between 5 and 6 million Jews murdered; along with countless other minorities the Germans deemed inferior (The Holocaust Chronicle Appendices). The Holocaust began with the boycott of J ewish businesses, and ended in camps such as Auschwitz. The destruction of the Jews was made possibly with the rise of Adolf Hitler to power, as he and his fellow Nazi followers attempted to exterminate the Jewish populace of Europe. In the paragraphs toRead MoreThe Holocaust : A More Perfect Union1060 Words   |  5 PagesAlthough many recognize the Holocaust as one of the most catastrophic genocides in history, few acknowledge its underlying causes. Historians often attribute the combination of German aggression and foreign appeasement with the Nazi rise to power and success in completing the Final Solution. However, the power of the totalitarian regime originated from its domestic policy, allowing one man to manipulate the thoughts and actions of an entire nation. The Nazi indoctrination of Germany with propaganda provided

Sleep Deprived Athletes The Lack Of Sleep Essay

Sleep Deprived Athletes Do you feel sluggish while playing your favorite sport? The lack of sleep can negatively impact an athlete’s performance. Athletes that are fatigued can experience negative; mental, emotional and physical conditions. These negative conditions become noticeable on the field, either during a game or throughout practice. They can impact the team in a way that wouldn’t benefit the other players. This could be a crucial way to determine if the team will win or lose that particular game. Most student-athletes do not get the proper amount of sleep at night, causing them to be sleep deprived. Student-athletes need eight or more hours of sleep to function properly in daily activities. Sleep is the most important part of a student-athlete’s life. â€Å"Getting your zzz’s may be just as important as fitting in training sessions†(â€Å"Find out Why Snoozing†). The fact that sleep is just as important as sports, or maybe even more important really tells something. In order for a person to live a healthy lifestyle, they first need to start out by getting a good night’s sleep. People that receive less than six hours of sleep are in risk of disease, as well as other medical issues. Also a lack of sleep can increase stress levels, which can drive people into depression. â€Å"Researchers have also found that newly learned information and skills are reinforced by a good night’s sleep --- meaning that children are becoming better at their soccer footwork, their piano playing, orShow MoreRelatedSleep Deprivation And Its Effects On Children Essay1511 Words   |  7 Pagesthe Sleepless in America (American Academy of Sleep Medicine, 2014), the documentary which co-produced by the National Geographic Channel, almost forty percent of Americans get less than five hours of sleep per night. Sleep deprivation often results in depression-like symptoms. Thus we heard suggestions that we should have at least eight hours of sleep a night. In fact, the duration of sleep affected by multiple factors, such as human has different sleep needs at the different age, and according toRead MoreImportance Of Healthy Diet Essay1419 Words   |  6 Pages The importance of sleep, diet, and strength and conditioning. Introduction To keep the body in good health is a duty, otherwise we shall not be able to keep our mind strong and clear.† –Buddha Being a student athlete for the majority of my life, i have learned how to balance my studies and my sport. Basketball and high school are both very demanding, but when you put them both together you make for a very difficult schedule. Though the lifestyle i live is somewhat grueling, i have adapted andRead MoreEssay on Running and Over Training1428 Words   |  6 Pages Even though some experts believe that excessive running is detrimental to the human body, and others believe any amount of running is one of the key components in most athletes, Still others believe that moderation between both extremes can benefit your sport. Running may have a heavier toll on the body than any other sport, literally. With each stride, force of two to three times the bodies weight is hammered on the joint, muscles, and tendons. How much running is â€Å"too much† running? isRead More Adolescents and Sleep-Deprivation: Should High School Classes Start Later?1223 Words   |  5 Pagesboard was considering moving the start of the school day 30 minutes earlier (Hoffman 2). Jilly became a sleep activist because she knew that, biologically, adolescents go to bed and wake up later. Mary Carskadon, considered to be an expert on sleep and circadian rhythms of adolescents, claims that adolescents should receive about 9 hours of sleep a night (Onyper). Many students suffer from sleep-deprivation due to alterations in the peak times of melatonin production, a hormone directly involvedRead MoreAn Institution For Educating Children1308 Words   |  6 Pagessociety many factors can block students from achieving this goal. The first of which is the lack of well rested and energized students with the motivation to grow. Sleep becomes harder to achieve as one ages, since school and work are the causes of sleep deprivation. Therefore, teens all over the U.S. are demanding a more appropriate start time given their developmental needs. Over 66% of teens have sleep problems mostly due to school and stress. A later start time means more time to get readyRead MoreThe Era of Sleep Is Over Essay1416 Words   |  6 PagesI have found a problem that should not be over looke d. For many years students and teachers have had precious hours of sleep seized from them by schools all across the great United States of America. I am no attorney, but I do know seizure of property without a proper warrant is against the Fourth Amendment; one of the twenty seven amendments our very nation has been built upon today. I am not proposing we go to court with our school systems, but I am suggesting we can all comprise and find a fewRead MoreSleep And Gpa Comparison At Culver Stockton College Essay1913 Words   |  8 Pages Sleep and GPA Comparison Earl W. McPike Jr. October 13, 2016 INTRODUCTION: Sleep coincides with a college student because the amount of sleep one gets should determine how one functions throughout the day and most importantly how well a person does in school. The more sleep that a person gets at night should make a person more energized causing them to perform better in sports, at work and in school. If a person is going off of only a small amount of sleep, they shouldRead MoreQuestions On Health And Wellness1389 Words   |  6 Pagespossible solutions for shrinking testes. Get more sleep Most understand the importance of a good night’s rest for overall health. But if your testicles are shrinking it could be due to a lack of sleep. A study from the University of Southern Denmark found a link between quality of sleep and testicle size. Researchers conducted a cross-sectional study that included 953 young Danish men from the general population. Sleep schedule, interruptions in sleep, and sleep habits were studied. The men s testiclesRead MoreSleep Deprivation Can Alter Mental Process Essay1969 Words   |  8 Pages Sleep Deprivation Can Alter Mental Process Jake Snitofsky Jason Piccone Nova Southeastern University Abstract Sleep is one of the main components to have a fresh start in the morning. Everyone needs their good sleep so they can stay focused, interactive, and productive while at work or school. In this study, we wanted to see if sleep patterns influence the subject’s social interactions. Many college students and adults working need to have a decent amount of sleep for the next dayRead MoreCorrelation Essay1402 Words   |  6 Pagesbetween body max index (BMI) and average hours of sleep amongst the students in the class. I was interested in the relation between these two variables because I have previously researched an article on WebMd that claimed those who are sleep deprived are more prone to live unhealthy lifestyles. As college students, we typically sleep less than the average adult would due to academic and social responsibilities that can push those to neglect a healthy sleep schedule in exchange for more time to accomplish

What Is The Value Of Keeping An Accurate Inventory Free Essays

Inventory keeping plays an important role in the supply chain of many companies and organizations. Efficient inventory control and management to a large extent depends on the way and manner inventory records are kept. Good record keeping makes it easier for inventory to be kept properly, whereas bad or inaccurate record keeping unduly stalls movement of raw materials and finished goods in the supply chain. We will write a custom essay sample on What Is The Value Of Keeping An Accurate Inventory or any similar topic only for you Order Now In this paper, an attempt shall be made to highlight the value of keeping one’s inventory accurate. Helps in achieving Operational excellence The value of keeping one’s inventory records accurate has been emphasized by several research workers (Kok and Shang, 2006; Smaros, Lehtonen, Appelgyist and Holmstrom, 2003; Cachon and Fisher, 2000). Commenting on this subject, Kok and Shang (2006) for example, pointed out that inventory record inaccuracy is a major obstacle to achieving operational excellence. To these authors, for one to achieve operational excellence, every effort should be made to keep one’s inventory records consistently accurate. Helps in lowering total distribution costs According to the Chartered Institute of Marketing (CIM) (1994), total distribution cost is the summation of the costs incurred in transporting, warehousing, order processing and documentation, inventory, packaging, lost sales for failing to meet set standards of goods. The relationship between these variables and distribution can be expressed mathematically as: D= T + W + O + I + P + S where: D is total distribution cost T is transportation cost W is warehousing cost O is order processing and documentation cost I is inventory cost P is packaging cost. S is lost sales as a result of failing to meet required standards From this formula, any undertaking which lowers the cost of these variables in the supply chain would also contribute in making the total distribution cost lower and therefore more cost-effective. Keeping a company’s inventory accurate therefore helps in this direction. The reverse is what takes place when inaccurate inventory is kept. Distribution is component of the classical marketing model known as the 4Ps. Distribution can therefore be a good source of competitive advantage at the marketplace. Companies that make their distribution network more cost-effective can have a huge advantage over their competitors. Helps in building trust in the supply chain In today’s business world, it is not uncommon to find companies share their inventory records with partners, some of which could even be competitors. Some of these information exchanges take place in real time and also defies geographical boundaries. Many of these relationships and arrangements are founded on trust. As such, the value of keeping accurate record cannot be over-emphasized. This is because inaccurate presentations do not only undermine the work of the company in question but also all the significant others which used that piece of information to plan and manage their work. Helps in demand estimation For existing companies, past inventory records greatly assist in estimating future Demand for goods and services at the beginning of the financial year. From such information, the quantity of goods that should be manufactured at any given time can be estimated accurately. Helps in sourcing and procurement for cheaper raw materials. Accurate inventory records also help in sourcing for and procurement of cheaper raw materials for the company. The cost savings from such undertakings can then be passed on to the final customer in cheaper prices. On the other hand, inaccurate records hinder procurement departments in establishing present stock levels and the replenishments that must be procured. Helps in the arrangement of logistics Similarly, inventory records assist the distribution outfit of the company to arrange for transportation and other logistics to convey the manufactured goods to the final customers in the value-chain. In situations therefore, where the inventory information provided to the aforementioned departments are inaccurate, it can seriously hamper their work which can be lead to severe losses to the company. Let us consider a scenario where the company’s stocks are full at the storage depots but her significant partners are informed that stock levels are at 50 percent. A raw material supplier to this company would make arrangements for materials to be sent to this company, only to be told that the company does not need these materials until the present stocks have been cleared. Equally, the company’s outsourced logistics partner would restrict herself to transporting goods equivalent to half the capacity of the company’s warehouse to the retailing units. The transporters get to the warehouse to find that they are not adequately resourced to carry out the logistical task ahead. If they are not fortunate to find that all the available transports have been booked, clearing the warehouse of existing stocks would be a Herculean task, if not impossible to the outsourcee company. Helps in Business planning and coordination. Apart from helping to estimate demand accurately, keeping accurate inventory records also help in business planning and coordination itself. With accurate inventory records, it is easier for a company to plan its way forward. For example, if it is learnt from past inventory records that the company obtained its highest sales in the first quarter of the year and not the last quarter, it can plan to augment its sales personnel during this period. By employing several part-time and temporal workers, it can comfortably fulfill customer demands at such peak periods. Similarly, it can use the low- through periods to train its staff or allow them to take their vacations. Wilson (1995) has pointed out that susceptibility of materials planning systems to record errors reduce their effectiveness. Thus, in situations where remedial steps such as cycle counting programmes are not implemented to correct deficiencies, the performance of the company can seriously deteriorate. Helps in production scheduling The importance of keeping accurate inventory records to the producer in sourcing for raw materials has already been stressed. Another value such an undertaking brings to the producer or manufacturer is in the area of scheduling the production itself. Mass customization of goods has become the order of day in many market sectors and industries. Whereas this system de-emphasizes storage of goods, in some instances it depends on inventory records to determine whether a specific request should be manufactured or one is ready available to be sent to the customer. In that respect, accurate inventory records contribute greatly in scheduling production of goods cost-effectively. Helps in Inventory control. Accurate records help in controlling inventory itself. According to Lamb, Hair and McDaniel (2000) an inventory control system develops and maintains an adequate assortment of materials and products to meet the demands of manufacturers and the final consumer. If the input furnished the inventory is inaccurate, that deficiency can seriously affect the manufacturer and the customer alike. A typical example of this distortion is when too many goods are kept in the inventory. This development leads to increases in storage cost and in some cases losses attributable to theft and spoilage. In the same vein, when goods are under stocked, it can lead to severe shortages and also angry and unfulfilled customers. A reflection of Managerial capabilities The way and manner inventory records are kept in a company is also a reflection on inventory managerial capabilities of the management team of the company or the logistics and distribution department. If available records are full of errors and inconsistencies, it simply tells any cursory reviewer that sufficient supervisory oversight is not being administered. On the other hand, an accurately kept inventory records is indicative that the managerial staff are up to the task. Helps in warehouse management Warehouse management plays a vital role in the supply chain of some companies. They serve as an effective link between manufacturers and market intermediaries such as wholesales, middlemen, retailers, etc. Accurate keeping of inventory records constitutes an integral part of warehouse management. It is difficult to manage warehouses properly if records of inventory are not properly kept. If that occurs the warehouses could be receiving newer stock when in fact they should be rejecting on the basis of present stock levels. In like manner they could be rejecting stocks when they should be accepting them. Any of these scenarios place additional costs to the warehouse manager. In the same vein, it also makes the handling of materials difficult. Helps in the identification, sorting and labeling of goods Accurate inventory records helps in identifying, sorting and labeling goods (Lamb, Hair and McDaniel, 2000) either for storage or to the distribution and manufacturing centers. Goods that are properly identified sorted out and labeled are easier to handle than those which are not. They also save material handlers or workers valuable time and thereby increase their productivity. Helps in securing financial assistance As with every segment of a business entity, good record keeping, including that of inventory, helps greatly in securing financial assistance. For existing companies, the financing institution may review existing records to gain insight into how the company has been managed. If inventory records have been badly kept, it indirectly tells how the company has been managed. Furthermore, if management of inventory were one the criteria being used to decide whether financial assistance should be extended to the company or not, it is obvious that the company with an accurately kept inventory shall receive the assistance whereas those with improperly kept data refused the needed financial help. Inventory records themselves are also useful in the preparation of business proposals and plans for financial assistance. Helps in order processing Keeping accurate inventory records also helps in processing received orders correctly. If an order is received and the information is relayed to the manufacturing centre, whether that order gets fulfilled immediately depends on whether accurate inventory records have been kept. If the inventory records are inaccurate, the customer may be sold a good that does not match his requirements or the fulfillment of that order may be unduly delayed. Helps in Replenishment of stocks Accurate inventory makes replenishment of goods either at the warehouse or in store shelves easier to suppliers, be they manufacturers, wholesalers or retailers. Whereas, if doubts are expressed about inventory records, they make replenishment extremely difficult. The difficulty stems from the fact one is not entirely sure about the quantity of goods that should be supplied at any given period. Consequently, over- and under-replenishment becomes common. This development has cost implication to the supplier. For example, if goods are sent to their desired destination and it is found that there is no space to accommodate them because stock levels were understated, those goods would have to be transported back to the supplier. On the other hand, if inventory records were accurate, the goods supplied would be delivered with no extra cost to the supplier. Helps in lowering supply chain costs Generally, it has been established that accurate inventory records reduces order processing and supply chain costs (Cachon and Fisher, 2000). For example, if the time taken to identify inaccurate inventory records and have them rectified is 20 percent of the total time spent at customer-seller interface by the customer, that figure represents the extent of convenience and also loss of man-hours experienced by the customer and sales personnel, respectively. Helps in providing excellent customer service Accurate inventory records also help in providing excellent services to customers. It makes it easier for goods actually needed by customers to be known and supplied with. Furthermore, it enables the needs of customers to be identified and promptly catered for. It also prevents wastage of store shelves by filling them up with goods that are in great demand by customers. Conclusion From the foregoing account, it has been clearly shown that keeping a company’s inventory accurate is a valuable undertaking. Companies with inventory that adhere to set inventory practices reap several benefits, whereas those which do not incur losses. In an era where inventory building is being de-emphasized, the need for companies to keep their inventory records accurate has become even more paramount. How to cite What Is The Value Of Keeping An Accurate Inventory, Papers

Monopoly Market Structures

Question: Discuss about the Monopoly for Market Structures. Answer: Introduction: There are various types of market structures that exist in an economy. Some market structures consist of many buyers and many producers like that of perfect competition ensuring that no single buyer or seller affects prices whereas there are markets where exist only one seller and many buyers such that the seller can affect the price fixed. A market consisting of only one seller and many buyers is known as a monopoly market (Pindyck et al, 2009). A monopolist is the only producer of a product and the demand curve that the producer faces is the market demand curve which relates the price that the monopolist receives with the quantity that it offers in the market, thereby having sufficient power in changing the price or the quantity of the product. If the monopolist charges a higher price it may not worry about other competitors who might charge a lower price and can capture a large share of the market. But it must charge a specific price if it is with the objective of maximizing profits (Varian, 2010). The monopolist takes into consideration the many factors that come into the picture to maximize profits. It must determine the costs and the features of the market demand to decide how much it should produce and sell. The price that the monopolist receives per unit of the output sold is its average revenue whereas the change in revenue that occurs due to one unit change in output is the marginal revenue. The solution to the mono polists maximizing problem is the intersection point of the marginal revenue and the marginal cost, the point where it maximizes profit (Mankiw, 2007). In the figure below we see the demand curve denoted as D which is also the monopolists average revenue curve. We also have the marginal revenue curve MR and the marginal and average cost curves denoted as MC and AC respectively. At the output level of Q* the MC intersects the MR curve, i.e., here MC=MR giving the profit maximizing output of the monopolist Q* at price P*. To assure that Q* is the profit maximizing output, we shall take a point Q which is less than Q*, and set at a higher price P. As we see in the figure, in such a case the MR exceeds the MC, hence indicating that if the monopolist produces any quantity a bit greater than Q it would be able to get extra profits thereby increasing its total profit. Thus, it can keep on adding to its output increasing profits until it reaches Q* where the MC is exactly equal to the MR an d hence incremental profit by adding one more unit to the output is zero. This shows that Q is not the profit maximizing output for the monopolist and if it produces Q then it loses the part of profit shown in the red shaded area from its total profit if it would have produced Q*. similarly if we take a point Q which is greater than Q*, we see here the MC is greater than the MR indicating that if it produces a bit less than Q then it would increase its profit by the amount MC-MR, thereby it can go on decreasing output and increasing profit till it reaches Q*. The greater profit earned by producing at Q* instead of Q is shown by the shaded region in blue. Mathematically we have: There are certain advantages and disadvantages of a monopolistic market structure. Firstly the advantages of such a market structure are as follows: Monopolists can gain from economies of scale and can be natural monopolies. Domestic monopolies can earn high amounts of export revenues for the country by being foremost in their region and then penetrating into international markets. An example of this is the Microsoft. Some economists argue that monopoly power is required to create dynamic efficiencies and technological progressiveness because the generation of high profits via monopoly would boost research and development investments (Samuelson et al, 2010). Also large monopolies are more expected to bring forward innovations which results in low costs than competitive markets and monopolists being in dominant strong positions are capable to bear high risks that are associated with innovation. Monopolies also protect intellectual property through the barriers to entry preventing the free riders problem (Lipsey et al, 2011) and also enabling them to generate super-normal profits which when invested in research and development reduces costs through innovations and increases efficiencies. The disadvantages of a monopolistic market structure are as follows: Output is restricted onto the market Higher prices are charged by monopolists than that would be charged in competitive markets Economic welfare and consumer surplus is reduced Choices and preference of consumers are restricted Consumer sovereignty gets reduced (Economics Online). Hence, if we sum up the advantages and disadvantages we see that monopolistic market structures do boost research and development with high profits being reinvested to uncover ways to innovation thereby increasing efficiencies but we also see that presence of such market structures also bring forward a high deal of social costs as these entities charge much higher prices compared to the perfectly competitive markets. Monopolistic market structures hamper economic welfare by reducing consumer surpluses, restricting the choices of consumers to earn supernormal profits. References: Pindyck, R, Rubinfeld, D Mehta, P 2009, Microeconomics, Pearson, South Asia Varian, H 2010, Intermediate microeconomics, Affiliated East-West Press, New Delhi Samuelson, P Nordhaus, W 2010, Economics, Tata McGraw Hill, New Delhi Mankiw, G 2007, Economics: principles and applications, Cengage learning, New Delhi Lipsey, R Chrystal, A 2011, Economics, Oxford, New Delhi Sowell, T 2010, Basic economics, Basic books, USA Economics Online, Monopolies, viewed 18 August 2016, https://www.economicsonline.co.uk/Business_economics/Monopoly.html