OWhat is the definition of price elasticity of demand Essay

OWhat is the definition of price elasticity of demand - Essay Example The formula for the co-efficient of price elasticity of demand for a good is Factors that determine the PED are the ability of a consumer after a price change to postpone consumption decisions that concern the good and to search for substitutes. Among others include the availability of substitute’s goods in the market structure, where the more the close the substitutes are then, the higher and the elasticity. People can simply switch from one good to the other due to a minor change in price therefore availability of close substitutes have a great effect on demand inelastic (Cohen, 2001). Others include the consumer percentage of income that the product’s price represents as people will tend to pay more interest when purchasing the good because of its cost. Others include the necessity of a good, brand loyalty and the duration that the price change holds in the market (Jehle,

Performance Review Takes a Page from Facebook Research Paper - 1

Performance Review Takes a Page from Facebook - Research Paper Example It is true that social media has found massive inroads in the lives of many but delegating such an important task to informal social media conversation is not only time consuming but might also be ineffective. Formal performance evaluation not only tells people where they stand but also provides guidance as to how to increase performance in future. There are other important elements of performance feedback and evaluation as well like anonymity which might not be fulfilled through regular conversation. It is therefore safe to disagree with the statement that regular conversation eliminates the need for formal performance evaluations. Regular conversation is important in today’s society and people should have a forum where they can voice their concerns and can get help. There is no doubt in the efficacy of making regular conversations with employees but the purpose of formalized performance evaluation is to informs employees about their performance for a time period. Regular conversations might not fulfill this purpose because performance evaluation should be spaced accurately so that employees have a chance to show improvements. Performance evaluations cannot be taken every month and week, and this is why formal performance evaluation and feedback is important. In different age groups performance feedback effectiveness through social networks will be very different from each other. For example for veterans such a method might not work at all because they are not very technology friendly (Jeffries, 2007). They might be more comfortable with face to face performance evaluation or paper based evaluations. Baby boomers might also not as comfortable with technology as other younger age groups (Perez, 2009), and therefore they might also not prefer such system of performance evaluations. Other age groups like Generation X and generation Y might be more comfortable with performance evaluations done through social media. This is because of their

The Strategic Verticals of Davivienda Assignment

The Strategic Verticals of Davivienda - Assignment Example The assignment "The Strategic Verticals of Davivienda" analyzes the existing issues regarding internal communication inefficiencies, lagging project duration for O&M department of Davivienda Bank by measuring each of mentioned problems and their impact on the operational efficiency of O&M department. External and internal environment scan in context to O&M department has been done by the researcher in order elaborate scope of the paper. The recommends strategies like implementation of virtual communication portal, enhancement in e-mail communication efficiency, establishment of department consisting of process specialist that would work with O&M department in integrated manner, providing communication training to O&M personnel, implementing ERP system within O&M department, conducting monthly cross-departmental meeting to top level management and CEO of Davivienda to improve overall competitiveness of O&M department. The recommendations should not only improve internal communication between O&M department but also work as strategic initiatives for Davivienda. Financial organizations like banks start their strategic planning from understanding the scope of the service offerings. Davivienda is a bank and it also focuses heavily on the service and product offerings. There is very little scopes exist for banks to standardize its product portfolio and service offerings rather banks need to adapt to changes in customer requirements and design product portfolio that can be relevant in changing business environment.... As the report is addressing to key people of the organization hence there is no point in putting company information in the report because it is expected that the key members of the organization such as CEO is completely aware of these information. In short, O&M department of the organization handles issues like coordinating with marketing department to perform operational initiatives, updating administrative reports regarding organizational hierarchy, preparing system manuals, preparing process reports for the entire administrative blocks in the bank. The O&M department works in close loop manner with operational verticals like Human Resources division, Audit section, Information Technology division and General Administration. Now, what is the objective of this paper? Well, to be precise, the report will suggest a strategic plan for O&M department and study will also review the strategic plans that have been discussed in the previous works and suggestion regarding implementation of contingency plans to mitigate the identified risks will also be important part of this paper. Backgrounds and Accomplishments Bouquet, Hebert & Delios (2004) pointed out that financial organization like banks start their strategic planning from understanding the scope of the service offerings. In similar context, Davivienda is a bank and it also focuses heavily on the service and product offerings while making strategic choices. According to Bouquet, Hebert & Delios (2004), there is very little scopes exist for banks to standardize its product portfolio and service offerings rather banks need to adapt to changes in customer requirements and design product portfolio that can be relevant in changing business environment. Roth and Menor

Distinguish Essay Example | Topics and Well Written Essays - 500 words

Distinguish - Essay Example There are various other ways in which performance appraisals and performance management is differentiated from each other. Performance appraisals are conducted once, every particular year and these are conducted on the request of HR department (Koontz 243). On the contrary, performance management is conducted on very frequent basis and is conducted on the request of supervisors and subordinates. Performance appraisal process for an organization is created by the HR department and then it is forwarded to the managers so managers can utilize them while evaluating performance. In case of creating performance management process, both the employees and their managers are involved. Feedback derived through performance appraisals take place only once a year when performance is appraised, while feedback from performance management takes places each time the managers and the supervisors conduct performance management and they hold discussions about performance targets and achievement of those targets. When performance appraisal is conducted for an employee, the appraiser has a duty to reach an agreement with the appraised employee about how well he has performed and in what areas he needs training and development. In case of performance management, the appraiser has to understand the criteria of performance and has to explain employees about how their behaviors are matched to the criteria. In performance management the supervisors and subordinates identify expectations and how these expectations will help achieve organizational goals and objectives. In performance appraisal, the appraisee has to either accept or reject the performance appraisal conducted by managers and have to accept the sectors where improvement is required. In performance management, the appraisee has to understand the fit between expectations and organizations goals and objectives. A comparison of performance

Climate Change Essay Example | Topics and Well Written Essays - 2000 words

Climate Change - Essay Example Earlier it has been pointed that ecological destruction is one of the many leading causes that contributed to climatic changes. Jha and Whalley (1999) pointed that in developing countries, these environmental destruction is caused by massive soil erosion, open and illegal logging, dumping of solid and chemical wastes to the seas and ocean floors, incessant and unregulated pollution’s emission from companies, households, vehicles and industries. This is exacerbated by untreated human and nonhuman waste and other non-compliance of environmental control and laws in resource extraction, land use, and maximization of chemical-based fertilizers (Jha et al., 1999). The heterogeneity of environmental issues is also affected by the lack, if not absence, of enabling policies that can regulate and address ecological problems around the globe. As advanced nations engaged in an extractive industries in open states or countries, project developments in sites where there are mineral production sharing agreement proved destructive to mountains due to open pit nature of operations with consequential negative impact to rivers, water basins, siltation in the shorelines, displacement of native people, polarization of community (e.g. pro-mining and against), militarization of mine sites, and aggravation of community-based human rights violations (World Bank, 2004). The human beings, an integrated part of ecosystem, are also alienated by these developments as original residents in mine sites are removed from their natural livelihood (World Bank, 2004).... The influence and confluence of sun’s phenomenal flares that emit heat waves, atmospheric natural relations within earth’s axis and the environmental destruction made by human beings, intentional and non-intentional, have contributed or caused climatic changes (Intergovernmental Panel on Climate Change, 2008). Figure 1. A comprehensive graphics of climate change effects to the world. (OpenGreenSpace, 2012). Causes of environmental problems Earlier it has been pointed that ecological destruction is one of the many leading causes that contributed to climatic changes. Jha and Whalley (1999) pointed that in developing countries, these environmental destruction is caused by massive soil erosion, open and illegal logging, dumping of solid and chemical wastes to the seas and ocean floors, incessant and unregulated pollution’s emission from companies, households, vehicles and industries. This is exacerbated by untreated human and nonhuman waste and other non-compliance o f environmental control and laws in resource extraction, land use, and maximization of chemical-based fertilizers (Jha et al., 1999). The heterogeneity of environmental issues is also affected by the lack, if not absence, of enabling policies that can regulate and address ecological problems around the globe. As advanced nations engaged in an extractive industries in open states or countries, project developments in sites where there are mineral production sharing agreement proved destructive to mountains due to open pit nature of operations with consequential negative impact to rivers, water basins, siltation in the shorelines, displacement of native people, polarization of community (e.g. pro-mining and against), militarization of mine sites, and

Business studies Essay Example | Topics and Well Written Essays - 1250 words

Business studies - Essay Example Diversity was not encouraged neither welcome. However, organizations view diversity at workplace as a positive sign and they even try to position themselves as the champions of diversity. Minority groups are no longer forced to fit-in, in fact, organizations make an effort to understand their culture and background to deal with them in harmony (Ham, Shams & Madden, pp. 60-64, 2004). This paper is an attempt to look at how an American businessperson can reach the same wavelength as his Saudi Arabian counterpart while dealing with him regarding business issues. This paper will take use of the classic research of Hofstede and Trompenaars in order to explore lesson for the American businessperson as in to understand the Saudi Arabian culture. Discussion Despite the fact that the entire world is quickly moving away from traditional concepts in all occupations, Saudi Arabia is still one of those countries, which have remained as theoretic Islamic monarchy. This means that the concept of re ligious freedom does not exist even in its theoretical form. The constitution of Saudi Arabia assumes that all the citizens are Muslims, however, it does not prohibit from being a non-Muslim. However, important here to note is that any expression of any religion, other than Islam, in public is taken as misappropriate behavior in public (Shoult, pp. 89-96, 2006). Furthermore, even if someone is found to be following any other religion even in their private lives inside their homes, police has all the right to break in, arrest, and punish those individuals. In fact, there is an entire committee of officers with the name of Committee for the Promotion of Virtue and the Prevention of Vice, which takes the responsibility of application of Shariah Laws on every individual (Morrison & Conaway, pp. 69-74, 2006). Therefore, this means many different things. Nothing can take place, which is not in line with Islam. There are many examples. For example, no liquor would be tolerated even for cel ebration of a business deal or successful completion of a project. Women cannot wear revealing or tight dresses, in fact, it necessary for women to cover their bodies. Furthermore, a considerable distance is important to keep between men and women during their work and conservations. While meetings, it is advisable not to make any comment on the women, which are more than 12 years of age, of the family of the Saudi counterpart. Conversations should start with Islamic greeting line, which is â€Å"As-salam alaikum†, and the reply shall be â€Å"Waf alaikum as-salam† (Ham, Shams & Madden, pp. 60-64, 2004). One of the biggest problems that western businesspersons face while dealing with Saudi people is regarding the conception of time. There is a huge difference between the value, perception, importance, and concept of time in both of these cultures. In western cultures, time is equivalent to money, a very crucial resource, important to use it fully and do not waste any o f it. Business meetings have fixed timings and participants try their level best to ensure that meetings must start at the specific time. Anyone who is late is considered as lazy, lethargic, rude, arrogant, careless, irresponsible and offensive (Shoult, pp. 89-96, 2006). People do not prefer to wait for each since waiting for someone has the meaning, which any

Search and seizures Essay Example | Topics and Well Written Essays - 1250 words

Search and seizures - Essay Example Constitution are meant to protect the citizens from any act that may infringe on their privacy and therefore every person is protected from any form of unreasonable search or seizure by the state or its federal agencies at the time of enforcement of the law. However, the Fourth amendment also allows searches and seizures in some instances especially when it is considered reasonable and for the interest of the public. This means that law enforcement agencies may at times put aside a person’s concern about his privacy or that of his property and conduct a search or a seizure without a warrant. For this to be qualified, it must be proven that the agency has a probable cause to have a strong conviction that they may find from you may point to the commission of a crime or that certain circumstances have justified that a search or a seizure should be conducted without a warrant. Mapp vs Ohio (1961) The facts of this case are that the police stormed into Ms Mapp’s house believ ing that a bombing suspect was hiding in there despite her protests. The police carried a piece of paper to her that they claimed to have been a warrant of search when she demanded that a search warrant be presented to her before the search is carried out. It later turned out that the paper the police waved to her was not a search warrant neither was the bombing suspect hiding in the house. However, the police found sexually explicit books and photographs in her home and she was later convicted for possession of obscene items under the Ohio state law. She appealed her conviction on the basis of the First Amendment but the court quashed the conviction on the basis that she could not be convicted on the basis of items obtained without a search warrant as it violated her right as enshrined in the Fourth amendment of the United States constitution. The court based its ruling on the exclusionary rule that forms an important part of the Fourth Amendment that prohibits any state from depri ving any person the right to life, liberty or property without following the due process of the law (Stocks, 73). Katz vs United States, 389 U.S.347 (1967) This case affirmed that wiretapping of conversations in public payphones without a warrant grossly violated the protections against unreasonable search and seizure as enshrined in the Fourth Amendment. The petitioner Katz was charged in a court of law for being engaged in gambling through state telephone lines that was deemed to be illegal by the authorities. State enforcement agencies used warrantless wiretaps to listen and track his conversations on matters that touched on the illegal gambling transactions. Through an almost unanimous vote of 7-1, the U.S Supreme Court held that the placing of a warrantless wiretap on public payphones is a violation of the rights that citizens enjoy under the Fourth Amendment (Stephens and Richard, 335). There was a test on the constitutionality of private conversations done in public places th at has been applied by numerous courts thereafter. These include whether the person under charge has exhibited an expectation of want of privacy and that the larger public as that which is reasonable can recognize the expectation. Chimel vs California (1969) The question that the court was faced with in this case is what constitutes an unreasonable search as compared with the rights enshrined in the Fourth Amendment of the United States. This was an evaluation of those instances that a police officer may conduct what can be