Punishing a firm for being efficient may harm in the end the consumers. Nevertheless, the difference between economic profit and accounting profit is important to explain when determining if market power exists. While economic profit can be a warning of dominance, it is less probable for accounting profit to lead to market power. Besides profit,
In conclusion, hedging risk with financial derivatives can give firm range of benefits such as lower probability of having financial distress, lower value of debt ratio, and earn tax benefit. It can be concluded that firm should hedge risk using financial derivatives because lot evidence shows that firm using this strategy is more successful than those who are not. However, since different type of companies facing different risks, they should not necessarily use the same hedging strategy.
The innovation management efforts adopted by organizations and businesses are through new techniques and paradigms that serve existing and new markets efficiently including those with new and modified products and/or services. As part of radical innovation, the innovation management methods should consider global trends in planning for future contexts as well as products and services. The classification of drivers for innovation involves ... ... middle of paper ... ...ss is differentiating through balancing the ideas with certainty. It involves consideration of what makes the new product and/or service competitively unique and what it seeks to achieve in the lives of customers. The final process is using the innovation to enhance every aspect of the organization or business and not solely improving the product or service through taping brand equities and reinterpreting.
An information system collects, processes, stores, analyzes, and disseminates information for a special purpose. It’ll create the changes in the way business operate and survive. Information system brings to them more profitability; serve their customer better, get market share, control the daily operations with the most effective. The clearest help of information system in different industry which are financial services, healthcare, retail and telecommunication to help them grow and what their future information system plans are. On information system, RFID (or Radio Frequency Identification) is the most important.
Leaders in an organization should not ignore the substantial benefits of cultural diversity in the workplace, but maintained and value it to increase the organization’s reputation and productivity. The Advantages of Managing Cultural Diversity Cultural diversity can bring tangible benefits to an organization who is ready to foster, maintained, and value the difference in cultures. The marketplace is becoming more competitive, many business executives are expanding and developing new ideas, products and services beyond their usual culture or environment. A diverse workforce will help to understand the need and interest of another culture within and outside of the region. Thereby helping the company to expand globally, acquire more business opportunities, provide opportunities to create an excellent, diverse customer base and remain compe... ... middle of paper ... ...mployees how to work better with diverse boss or teammate, create cultural awareness and teaches cultural sensitivity.
All of these services and function allow employees to share information and knowledge with other employees and management. In addition, other incorporate also can use of topic tags or title to make previous shared knowledge information more searchable. Besides that, this allows employees to share and seek information about common problems related with the job scope and minimize the need for supervisors to step in. Thus, it is a good idea to give employees the skill to communicate on a company-wide level. Knowledge sharing tends to occur more among employees who have similar positions.
It is important for today's business to attain and maintain talented human work forces; therefore, many companies strive to seek methods to reinforce human work forces. I think that diverse recruitment and career development actives are good ways to reinforce human work forces because these are motivate employees to increase organization's productivity as well as employees' loyalty to their companies. As diversity flourishing, the most successful companies have tried to deal with diversity toward inside customers, employees and outside customers, real customers. It is not only bringing advantages to them but also practicing affirmative action. It is not easy for a company to maintain their human work forces and find their employees' potential which can be used to increase productivity.
However, you will gain a negative image if you are providing poor customer service. Revenue also has a similar impact as it is maintained and can increase with good customer service. This is because customers will pay more for your brand. However, if poor customer service is given, the revenue will
It is not about grades” (Pediatric Chiefs-UCCH Website, .n.d.). How can Feedback Sills be useful in the Business Environment? Feedback skills are important to the business environment because it enables persons to learn, provides an insight on how the organization functions, creates opportunity for professional and self-development and also boosts the morale and loyalty of individuals. Website on how to develop Feedback Skills: www.skillsyouneed.com/ips/feedback.html 5.) Persuasion- “Being able to influence or change one’s attitudes, beliefs or values towards a particular subject/object, so that these will merge and finally equal the persuaders thoughts and feelings” (Persuasionskills,
The effective the team is the successful it can be. The following factors have many benefits that a business must be aware of before the team can be effective: Interaction of the team- the advantages of good interaction is that members will work together as a team. This means that members will know what to do in the business and run it efficiently. · Communication within the team- once the group knows what they are doing; communication between them will be frequent. The advantages of communication are members will know what they are doing.