Managing Products and Services Assignment Example | Topics and Well Written Essays - 2250 words

Managing Products and Services - Assignment Examplebanking, insurance, communications, transportation, travel and entertainment. Today, much than 60% of economy in genuine countries depends upon supporter industry and more than 74% in United States alvirtuoso. Therefore, today the experts seem to be more interested in focusing how to manage and market their services instead of products. This essay will inspection and repair to understand the main features of this rapidly growing industry of present era. 1Before the advent of service industry, the description of product used to encompass the functionality of service as well because that service was particularly related to those products. This compositors case of service is known as after-sales service. But now due to increased interest in arrant(a) service industry, the scholars and professionals have begun to point out the differences between the two.Both product and service are offered to the customers with the station of fu lfilling their needs and demands and earning profits in return. But the literature tells us that it is the characteristics of service which make it different and configurable in comparison to product. Those characteristics are explained as follows 1Intangibility A service is intangible because it cannot be touched, seen, possessed, owned and so forth Before using the service, a customer is unknown about its quality. And the service provider cannot assess and swan the quality of service until and unless it receives the feedback of customers. It totally depends upon guest expectations. So the customer is always uncertain about the take account and quality of a service that he/she can experience after its use. Inseparability A service is ingrained from its provider. Thats if the provider is not present the customer cannot use the service e.g. A patient cannot be toughened until and unless a physician is present to examine him/her. It also poses that often a customer wants the servi ce to be provided in a specific way or by some specific individual __ it enhances the closet of perfection in that particular individual that directly provides the service. Perishability The service cannot be stored for future use or to present to someone as the specimen of quality. If the customer does not avail it, he cannot expect it to be there in the same condition, value etc in future as well e.g. if a client misses the appointment with lawyer that time can never be captured again. At one time the suite in the most renowned hotel of the city are available but after a some days you might not get a single room vacant there. It means service greatly depends upon supply and demand. Variability The quality and consistency of service is subject to greater change because it is delivered by people and the behavior of human beings cannot be controlled. They can be in good temperament at one time and in a depressed mood the other. Thus, the quality of service greatly depends upon exp erience, knowledge, attitude, style, personality etc of the provider e.g. in a restaurant one waiter provides excellent service but another hardly knows how to please a customer. These characteristics show that provision of service or service production is totally based upon personnel contact, also called people contact part a product manufacturing does not need people (customers) for its completion. Both product and service are of two types in nature. 2

The Effectiveness of The Bank of England Policies in Overcoming the Essay

The Effectiveness of The Bank of England Policies in Overcoming the Crisis - Essay ExampleThis essay offers a large analysis of activities, that the Bank of England realizes to manage the lump, with a focus on effectiveness of the Quantitative Easing Programme, which is among the mechanisms utilise by the bank to stabilize the economy. It is argued in the paper, that the use of the Quantitative Easing of may cause high inflation in future. The BOE applies both monetary policy and Quantitative Easing mechanism as the inflation management tools, to ensure that the inflation level does not surpass the lower or the higher limits as predetermined.The concept of inflation refers to a situation where there is a frequent rise in the prices of goods and work in an economy, within a specified period of time. Monetary policy refers to a mechanism utilize to turn off the inflation rate, through the BoE introducing a period of higher interest rates, which targets to reduce both the consum er and the enthronisation spending, and consequently lower the quantity of money that is circulating in the economy.The Quantitative Easing mechanism is an go-as-you-please method of managing inflation, which is applied under circumstances where the monetary policy does not generate the desired effect, in enhancing the stability of the economyThe risks associated with the Quantitative Easing mechanism is its potential to cause future inflation, through corking flights and the stagnancy of production of goods and services, since the mechanism does not affect the interest rates, which in turn determines the production in the economy. ... In doing this, the Bank of England applies various mechanisms, which let in Monetary policy This refers to a mechanism applied to reduce the inflation rate, through the Bank of England introducing a period of higher interest rates, which targets to reduce both the consumer and the coronation spending in the economy, and thus lower the quantity of money that is circulating in the economy (Griffiths & Wall, 2007 p22). This way, the general prices of goods and services in the economy will be lowered, considering that there would be less money in the economy, which cannot support the higher prices. The change of the official interest rate by the Bank of England is applied in the situation where the amount of money that is being spent in the economy has grown at a higher rate, compared to the volume of the output produced, in terms of the goods and services (Qfinance, 2009 p249). Thus, the Bank of England sets an interest rate, at which it lends to the different financial institutions within the UK, which in turn affects the interest rates at which such financial institutions, which include the commercial banks, the building societies or the insurance companies, will attach to their loans and mortgages, which they advance to their customers. In addition, the change in the interest rates also affects the prices of other financia l assets such as the shares and the bonds, while also influencing the flip of the countrys currency against those of other countries (Mishkin, 2010, p77). All these changes serve to influence the demand by consumers and businesses, thus affecting the spending that such consumers and businesses make in

MBA - Economics - MicroEconomics Essay Example | Topics and Well Written Essays - 750 words

MBA - economics - MicroEconomics - Essay ExampleThey are characterized by a lack of economic competition for the good or service that they provide and lack of viable substitutes.Results would show that under the Perfect Competition scenario, attaining profit maximisation equilibrium at the given equations for embody and pricing would result to a loss for the company. The output may be high and the price low as compared to the Monopoly scenario but the overall effect is that the company does not gain from the venture. It is not surprising that it turned out that the crocked will profit more from the monopoly emplacement because consumers do not have any alternative. Monopolies are expected to produce less and set it a higher price because there is no substitute available on the trade. Consumers need the product and so they will buy in at whatever price is set thereby resulting to a moderate in social welfare.The lack of competition results to less concern for efficiency and inn ovation. Products would experience little or no improvement. Since there are no available substitutes the consumer is forced to use the product which further leads to light in consumer welfare. Nonetheless, there is a concept which states that the loss of efficiency of firms screwing raise a probable competitors value enough to overcome market entry barriers or provide incentive for research and raw alternatives. The government may redden step in and break the monopoly. According to the theory of contestable markets, monopolies can be forced to behave as if there were competition because of the risk of losing their monopoly to new entrants especially when barriers to market entry are low. It might also be because of the availability in the long-life term of substitutes in other markets. This is seldom the case however.Under the perfect competition, we were able to determine that the firm would be making a loss. Does it follow then we should stop fruit The answer lies on consi derations of contrasting total costs take aims and whether the firm is operating in the short run or in the long run. Why do even question whether it should continue or not Common sense would tell us that if we are not gaining anything from a venture then we should withdraw from it. However, production entails frozen costs which the firm should account for whether they make up or not. It may turn out that continuing production would be enough to cover the fixed costs. When the firm is geared for short run perspectives but is registering losses, it is advisable that it should still continue production provided that the congeries costs (TC) is greater than total revenue (TR) and that total revenue is equal to total variable cost (TVC). If it fails to achieve one of these conditions, then it would be advisable to shut down so that they will unaccompanied pay for the fixed costs. Even if the firm stops producing, it will have to continue to meet the level of fixed costs. Since whe ther the firm produces or not, it will have to pay fixed costs, it is better for it to continue production in an attempt to decrease total costs and increase total revenue, thus making profits. In the long run scenario, the condition to continue producing requires the price P to be higher than the Average gibe Cost. If P is equal to ATC, the firm is indifferent between shutting down and continuing to produce. This case is different from the short run shut down case because in long run theres no longer a fixed cost because everything

Financial Management Essay Example | Topics and Well Written Essays - 1250 words

Financial focussing - Essay ExampleThe caller-out is deemed to be the third largest retailer with respect to the amount of revenue that it produces (Potter, 2011 Deloitte, 2010). To influence and analyze the financial performance of the company, the ratio analysis technique needs to be used. Ratio analysis is a technique which uses a set of different financial appreciates known as financial ratios, in order to analyze the financial performance of a company. These financial ratios of the company would be compared with its prior socio-economic class ratios to understand whether there is any improvement in the performance of the company (Shim et al, 2000). The financial ratios for Tesco plc are as follows Ratios 2010 2009 Liquidity Ratios Current ratio 0.73 1 0.75 1 Quick ratio 0.44 1 0.61 1 geared wheel Ratios swinish debt-equity ratio 74.9% 109.6% simoleons interest cover 3.1 times 7 times usefulnessability Ratios Gross Profit Margin 8.22% 7.76% Net Profit Margin 4.1% 3. 99% Investment ratios Earnings per share 29.33 cents 27.50 cents (Annual Report, Tesco plc, 2011) . Liquidity Ratios assess a companys ability to pay mutilate their debts when they fall due. Basically it gives a staple fiber picture of a running position of a company. Current ratio illustrates a companys ability to pay off its short term obligation/ current liabilities (amount due within 12 months time) with the current assets that it holds whilst the quick and the cash ratio illustrates a companys ability to pay off their debts with the most liquid assets and cash respectively. Current ratios on the other hand analyze a companys ability to pay off their respective debts/liabilities through their most liquid (easily converted to cash) assets. The ratios in the above table indicate that the liquidity position of the company has worsened in 2010 as compared to 2009 two the current and the quick ratios have deteriorated over the year. The current ratio has fallen from universe 0.7 51 in 2010 to 0.731 in 2009. The quick ratio has also fallen from being 0.611 in 2010 to 0.441 in 2009. This should be a concern for the company as the liquidity ratios are a measure of companys subtleness and long term sustainability. With the assistant of the profitability ratio, a company can ascertain the increase/decrease in the level of costs, revenues and profits over any given period of time. These ratios help in ascertaining the companys performance with respect to the profits that the company/organization has generated. Gross Profit Margin/Net Profit Margin ratios help in ascertaining a companys staring(a) profit/net profit with respect to the revenue that the company has generated this ratio helps in understanding the ever-changing trends of the operational costs within any particular period of time. Both the Gross Profit and the Net Profit margin ratios have improved for the company over the one year concerned. This is a nifty sign for the company with respect to its growth, the companys gross profit margin has improved from being 7.76% in 2009 to 8.22% in 2010, this is both because of the fact the company has increased its sales revenue and it has controlled its cost as well. The net profit margin has also increased from being 3.99% in 2009 to 4.1% in 2010, although the throw is non a huge one but still for a large company like Tesco plc, this change is worth noting as it has increased the company

Classics Essay Example | Topics and Well Written Essays - 750 words

Classics - Essay ExampleWhen the Athenians reached Melos they sent envoys to offer a proposal of marriage to the Melians. During the dialogue this proposition fits clear.The Melians, instead of allowing the Athenian envoys to make their proposition in front of all the peck of Melos, brought them before the Magistrate and the Few, giving the reason that if the Athenians come as judges in their own right, then they should be brought before those who themselves hold a judging position of what is right. However, the Athenians state that they believe the Melians to have requested a quiet audience so that they may not influence the inhabitants of Melos, this they do not mind and go about setting out their proposition. Here, we see the subtleties of politics during this era and how important the masses were in determine what happens during the war. The Melians afraid that their throng would choose submission has employed a more covertness means of debate thus, denying the people of Melo s to choose their fate.The Melians see only two ways either they submit to Athenian rule and become slaves or they go to war and hope to win. However, the Athenians declare that the Melians are not completely right in their assumptions for, the most important thing is to preserve the island of Melos. The only way to do this is to submit to Athenian rule, proper a tributary of the Athenian empire but being left alone to carry on as before, preserving their culture and ways of living. They indicate that this would be an advantage to both parties for, the Melians retain the safety and deliverance of their country and the Athenians need not make war against them.The Melians state that they do not comprehend why they cannot remain immaterial, taking neither side but being friends to Athens. The Athenians explain that if they leave Melos to remain neutral the people of the Athenian empire will either believe Melos to be very powerful or the Athenians

Frederick II (Frederick the Great) Research Paper

Frederick II (Frederick the Great) - Research Paper ExampleMajority of armed services strategists perceive him as a brilliant military thinker while critics accuse him of being a power-hungry tyrant willing to go to any continuance to calm his ego and enhance his reputation.1 This paper asserts that Frederick II epitomized what a military leader should be, especially establish on his profound and enduring influence on other military strategists, leaders, generals, and statesmen who came after him.2Frederick II noted, A country should be ready for war, offensive or defensive and preparedness for war hinges on the arrest of the army and the finances. Frederick II of Prussia was one of the enlightened monarchs (enlightened despots) based on the reforms that he was able to bring to Prussia. During his reign, he was able to expand the territories of Prussia to become a power house in Europe. Frederick modernized Prussian bureaucracy and civil service, besides promoting religious tolera nce. Frederick managed to modify Prussia from European back water to an economically powerful and semipolitically reformed state. One of the strengths of Frederick II lies in the fact that he was an enlightened absolutist and thus, could run the political side while simultaneously directing the army to achieve the objectives of the state. One of Fredericks most expectant quote details a nation lacking an army is like an orchestra without instruments.3As a military leader, Frederick II focused on drill and discipline, besides stimulating initiative and inspiration in his military leadership. Frederick II maintained that common soldiers should fear their own officers more compared to the enemy, and he closely monitored his generals to suss out that none could be trusted to perform independently. As crown prince, Frederick II maintained that Prussia could not turn off being drawn into conflict practically anywhere in Europe. However, his country was short of the

Disscussion on any Economic Resource Which is Scarce in UAE or a Well Assignment

Disscussion on any Economic Resource Which is Scarce in UAE or a Well Known state of matter - Assignment ExampleApart from that the wet consumption in the emirates is massive and it is almost four time as that of Europe and desalinization plants will not be able to protect the fresh body of water resources for long time (Oil Rich But Water Scarce UAE in Grave Danger of Losing Its Water Resources in Just 50 Years,2010). Thus identifying the problem, the paper cerebratees on the governmental touchstones to tackle this problem, cost structure and mechanism of the emirates on fresh and its bell catch of hold. Finally it points out in suggesting best strategies to tackle this problem. Governmental measures to tackle the problem of water scarcity The government had been intimately aw are of the water scarcity problem and devised many policies to overcome this problem (Massad & Kannan, n.d., p.100). However the scope of discussing all is limited and the focus is some particular strategies. The oil wealth of the UAE has attracted myriad of commonwealth into this arid empire with high guide of water which made the government to face severe challenges to tackle the problem. The scarcity of water and high demand for water can be explained in a demand supply equilibrium framework. Fig.1 In the to a higher place diagram the initial equilibrium is attained at the point E, where the demand crease (DD) and supply curve SS intersects each other and the equilibrium price is P0 and the equilibrium quantity is Q0. Now as we have discussed that the population pressure has increased the demand of water to a great extent. So at the same price P0 it is found that the new demand curve (DD1) has shifted rightwards and an excess demand of occurs at that price. The supply being improvident there is problem in adjusting and attainment of equilibrium is a problem. Government has implemented strategies to lower the in-migration rate. As for example in Dubai, the employers ar e subject to a new work permit quota body and are required to obtain pre-approval in order to sponsor individuals for work permits. Again in Abu Dhabi, the foreigners are required to have medical insurance or health card in order in order to obtain work permits and growing charges for attestations confirming foreign degrees .As direct consequences of the population boom level-headed pressures fell on the agricultural sector of the Arab emirates. Enhanced technology research, support to local farmers, use of surplus water and innovative solutions are adapted and implemented by the government to solve the water crisis problem. early(a) policies include large scale water production through eco-friendly techniques applied in desalinization plants, arch controls are kept on the quality of the imported produce as well as the hold of the key crops (Szabo, 2011, p.6). Stress have been also given on non water policies because they are critically interchange to water policy reforms as the tasks becomes easier and productive when people outside the water sector show their preparedness to engage in complementary actions (Jagannathan et al, 2009, p.28). Awareness programs are also initiated by the government as well in solving the problem. Price elasticity of demand and water scarcity in UAE The price elasticity of demand measures the sensitivity of the quantity demanded to changes in the price (Elasticity n.d.). In other words it is a measure of how much a quantity demanded of a commodity changes when its price changes. Mathematically the price elasticit

Article review focus microeconomics Essay Example | Topics and Well Written Essays - 500 words

Article review focus microeconomics - sample Exampleged because rock oil fields in North Dakota and West Texas have been not only producing free oil but its transportation has been easy through a new pipeline to the coastal neighbourhood of Louisiana and Texas.Following the law of demand and supply in economics, oil englut leads to lower prices for oil producers. A representative from the Organization of the Petroleum Exporting Countries (OPEC) says that Saudi Arabia is supplying oil at less(prenominal)er price to their own refineries in coastal region than what it fetches in Asia. Surprisingly, Louisiana rough-cut fetches $9.46 per barrel less than the price in England for the comparable quality of crude. With this shift in demand-supply equilibrium, the prices of crude in Texas, North Dakota are heading southwards. Sellers commercialize has suddenly turned into a buyers market. However, experts do not envisage a glut that could result into a profoundly lower price as happe ned in case of increased pictorial gas production in the US pushing the price of gas at its lowest in last couple of years. The reason is that many Gulf Coast refineries cannot switch over to Light reinvigorated crude oil from more viscous crude currently being used without making significant changes in their refinery equipments and processes.In this article, the author is mainly trying to emphasize that now cheap US crude is available to refiners increasing price competitiveness of the US refiners over their global counterparts. It is pertinent to note that between June and October, the US refiners have increased their exports by 22% controlling over 20% international market of jet fuel, diesel and similar products. It is significant to note that the largest oil refiner of the US namely Valero has stopped merchandise due to availability of Light Sweet crude oil. The reason is that North Dakota has been producing one million position per day from Bakken Shale formation. This is over and above the production of almost 1.3 million barrels in South Texas at the Eagle Ford Shale

Immigration Issue of the United States Essay Example | Topics and Well Written Essays - 500 words - 14

Immigration Issue of the united States - Essay ExamplePopulation growth is an inseparable role in a healthy economy. Statistically, immigrants and their families forget account for sixty percent of the United States commonwealth after forty years (Pawlick and Finley 2). With this huge number, the US could take advantage of them by providing them and their children the amenities they assume to live their social life normally. Giving proper and quality education to the migrant children will fall positively in the future of the country. The educated migrant generation can create a versatile human resource environment locally, which will eventually address and eliminate cultural issues like racism very effectively. Similarly, they will follow the social norms and traditional values of the US better than the Native Americans for loss of proving that they deserve to live with dignity in the country by ensuring their civil and political rights as citizens of the US. These points v isualise that the increasing number of immigrants is going to affect many aspects in a positive way for the United States. One of the biggest legal issues about migration is the absence of necessary documents held by the migrants in order to become an American citizen. These people use others documents and Social Security numbers to avoid troubles or deporting (Pawlick and Finley 3). The legal complications related to defence or forging of documents will lead to the arrest of the migrant, and in case of couples or individuals with children, this situation will grow riskier impacts. From my perspective, the government should make it easier for immigrants to attain official documents in order to address this issue appropriately.