- QUESTION
Assessment Details 3.1 Requirements for completion of subject In order to pass this subject (1) you must attempt all assessment items, (2) obtain a final mark of at least 50%, and (3) obtain at least an average of 50% over all supervised individual assessment components within the subject. Any student who does not achieve a pass in the invigilated components may, in exceptional circumstances, be reviewed by the College Assessment Committee. Students who have completed less than 100% of the assessment will be subject to review by the College Assessment Committee which could result in an overall fail. It is important to be aware that assessment “is always subject to final ratification following the examination period and that no single result represents a final grade in a subject” (Learning, Teaching and Assessment Policy 5.22.). 3.2 Feedback on student learning Feedback on student learning will be provided through class discussions, comments on students’ performance in quizzes and research projects. 3.3 Assessment Tasks ASSESSMENT TASK 1: Session Online Quizzes Aligned course & subject learning outcomes SLO 1, 2 and 3; CLO K2, K3, S2 and A2. Aligned professional standards/ competencies For Master of Professional Accounting (MPA) studies, the successful completion of LB5229, Economics for a Sustainable World, is essential to fulfil the academic entry requirements for the professional accounting bodies Certified Practising Accountants (CPA) Australia and the Institute of Chartered Accountants Australia (ICAA). Group or individual Individual Weighting / Length 20% Due dates 27 October and 10 November 2015 8 ASSESSMENT TASK 1: DESCRIPTION There are two sets of online quizzes through Aplia; one related to microeconomics and one to macroeconomics. They are either marked immediately upon your attempts or will be marked at the weekly deadline (depending on the type of questions). Almost every quiz question is offered in three different versions so if students do poorly in one version they are given second and third chance to try to achieve higher mark. If all three versions of individual quiz are attempted Aplia allocate an average of the three attempts (and NOT the highest) as the final mark for that individual quiz. This does not apply to certain questions which are marked at the weekly deadline and for which there is no second or third chance. Students can save (providing they have not attempted all 3 versions of questions and providing the question is NOT “graded at deadline” type) and come back to it later by clicking the Save & Continue button. When students are ready to submit an answer for grading, they click the Grade It Now button. Otherwise, the saved answers that have been left ungraded before the deadline will be graded at the due date. After clicking the Grade It Now button and reading the explanations, students have two new options: They can continue on to the next problem, or they can click the Try Another Version button. The new version will have the same basic structure as the question they just answered but with a different setup (i.e. names, numbers, and scenarios will change). This new version also counts as a new attempt and will be graded. Some multiple choice questions are marked as “Graded at deadline”. These questions have only one version (so no second and third attempt), and feedback to these questions are provided at the deadline. So there will be NO “Try another version” option available for these questions. ASSESSMENT TASK 1: ASSESSMENT CRITERIA Online quizzes are automatically marked in Aplia (either immediately or at the deadline). Different marks may be assigned to different questions according to their specific difficulty level. ASSESSMENT TASK 2: Business Study Report Aligned course & subject learning outcomes SLO 1, 2 and 3; CLO K2, K3, S2 and A2. Aligned professional standards/ competencies For Master of Professional Accounting (MPA) studies, the successful completion of LB5229, Economics for a Sustainable World, is essential to fulfil the academic entry requirements for the professional accounting bodies Certified Practising Accountants (CPA) Australia and the Institute of Chartered Accountants Australia (ICAA). Group or individual Individual Weighting / Length 30%, less than 3000 words Due date 12 November 2015 ASSESSMENT TASK 2: DESCRIPTION Produce a business study report. The report needs to contain the following four parts plus a formal introduction to your report and a conclusion. 1) Introduction to the business and general business environment Select a business from anywhere in the world. Provide an overall description of the business and the competitive environment in which it operates. You may provide information about the business as suggested below plus any other information peculiar to the business you choose. a) Name and location of the business, the type of business (e.g. retail, manufacturing); b) What the business produces or sells; c) Who the main customers are (e.g. other businesses, government departments, young girls, older men); d) Where most of the customers are located (e.g. in Townsville, Jakarta, or on the net); e) Who the main competitors are (i.e. those producing similar products, and selling to similar customer base); f) Where the competitors are located; and g) The (approximate) market share of key competitors including your business (e.g. ’your’ businesses has approximately 10% of the market, your main competitor has approximately 50% of the market, and many other small businesses share the remaining 40% of the market). 9 Given the above information, comment on whether or not you think the competitive environment in which the firm operates is likely to be closer to (a) perfect competition; or (b) monopoly. Comment also on the number of ‘close substitutes’ for your business’ products, and the cost of your product relative to ‘average’ income of your customers. Does this mean that the demand curve facing the firm is likely to be relatively elastic or relatively inelastic? What does this imply about the ability of the firm to ‘mark up’ its price above marginal cost? 2) Production costs and scale Provide a description of the required factors of production, grouping them according to whether the factors of production are: a) Fixed and hence unlikely to vary much according to the quantity of goods produced or sold; or b) Variable and hence likely to increase with increased production or sales. Use the above information to comment on the likely overall cost structure of your business. For example: Are fixed costs large or small relative to variable costs? Does this mean that the firm’s ‘optimal’ size is likely to be small, medium or large? 3) Macro business environment Provide a description of the macroeconomic environment in which the business operates noting: a) The overall ‘stability’ of the political system/government of the country in which the business operates. b) The general level of inflation, unemployment and ‘average’ interest rate of the country in which the business is physically located (and also the countries in which most customers live if different from the location of the firm). Discuss any recent changes in those variables. Does the economy seem to be in a recession, boom or otherwise? c) If ‘your’ business exports its products to other countries, provide some information about the (currency) exchange rate, discussing its current level, and recent changes in it. Use the above information to comment on whether or not the overall macroeconomic conditions faced by the firm are likely to become more or less favourable over the coming years. In this part you should consider such things as: • Whether your main products are likely to be ‘normal’ or ‘inferior’ and hence whether demand is likely to rise or fall during recessions and thus whether the economic climate of the countries in which most of your customers live is likely to reflect well or poorly on your sales. • Whether you are likely to face problems getting access to key factors of production (e.g. are there skills shortages?), and whether this is likely to affect the business’ future operating costs. • If your business exports its products or imports factors of production…whether recent trends in exchange rates are likely to be good or bad for costs and/or revenues. 4) Sustainability practice of the business a) Does the production process of the business generate any positive or negative externalities? If negative, has the government (or anyone else) put in place any measures to mitigate? What is done to mitigate by the business? If positive, what is done to take advantage of it? b) Does the consumption of the good produced by the business generate any positive or negative externalities? If negative, has the government (or anyone else) put in place any measures to mitigate? What is done to mitigate by the business? If positive, what is done to take advantage of it? c) Use the information from above to comment on how the sustainability practice by this business and other businesses in the same industry would affect their long-term business viability. ASSESSMENT TASK 2: ASSESSMENT CRITERIA In this assessment, students are required to demonstrate their ability to apply economic principles learnt in this subject to analysing real-world business operations and evaluate how their long-run business viability may be affected by the sustainability practice they adopt in their business operations. 10 ASSESSMENT TASK 3: Examination Aligned course & subject learning outcomes SLO 1, 2 and 3; CLO K2, K3, S2 and A2. Aligned professional standards/ competencies For Master of Professional Accounting (MPA) studies, the successful completion of LB5229, Economics for a Sustainable World, is essential to fulfil the academic entry requirements for the professional accounting bodies Certified Practising Accountants (CPA) Australia and the Institute of Chartered Accountants Australia (ICAA). Weighting / Length 50% Date 13 November 2015 Duration 3 hours see Special Consideration, Supplementary, Deferred and Special Examinations Requirements ASSESSMENT TASK 3: EXAMINATION DESCRIPTION This examination will be made up of ten (10) questions or problems that cover all of the material discussed in the subject. The best way to prepare for the exam is to review all of the work from relevant chapters. ASSESSMENT TASK 3: EXAMINATION CRITERIA Students must obtain at least 50% for this examination which is the only invigilated component (supervised individual assessment) in the subject. In order to pass this subject overall, you must obtain a final mark of at least 50% to pass the subject. Section 4. Other Information about Assessment and Student Support 4.1 Submission and return of assessment The ability to adhere to deadlines is a highly desirable attribute that employers seek in our graduates. Right from the beginning, new students should acquire the habit of meeting deadlines for their work, by organising their study time appropriately. The following points apply to the submission of assessment 1. Extensions will be granted in cases of illness or personal issues (medical certificate/counsellor’s statement required). It is at the discretion of the subject co-ordinator/lecturer that extensions will be granted for inescapable, unexpected, documented work commitments (provide documentation). You should contact your lecturer before the due date if you are likely to require an extension. 2. Where no prior extension has been approved, late submissions will incur a penalty of 5% per day or part thereof. Weekends are treated as a single full day because university buildings are not usually accessible of over the weekend to allow for submission. Assessment tasks will generally not be graded after 14 days past the due date. 3. Assignments must be submitted to a Safe Assignment drop box on the subject site, LearnJCU. Students may not email or fax an assignment without prior approval from the Subject Coordinator/Lecturer. 4. The assessment will be returned with feedback within two weeks. 4.2 Plagiarism and referencing Plagiarism occurs when writers claim ownership of written words or ideas that are not their own. Plagiarism is a form of cheating and any instances of plagiarism will be dealt with promptly according to University procedures. Please see the JCU Student Academic Misconduct Requirements Policy Referencing is a systematic way of acknowledging the sources that you have used. Students should check out the very helpful online resources relating to academic writing, referencing and avoiding plagiarism at: · Writing and Maths Skills Online http://www-public.jcu.edu.au/learningskills/resources/wsonline/index.htm (In particular, the booklet Summarising, Paraphrasing & Avoiding Plagiarism is a very useful guide). · The Referencing Libguide · What is Plagiarism? 4.3 Important advice relating to examinations If you experience difficulties or serious circumstances before or up to the day of your exam, which you believe may affect your ability to sit the exam successfully or perform at your best, you can apply for special 11 consideration in the marking of your exam. Please see the JCU Special Consideration, Supplementary, Deferred and Special Examinations Requirements If you are unable to attend an exam at the scheduled time due to extenuating circumstances/circumstances beyond your control, you may apply for a deferred exam. Deferred exams are granted in exceptional circumstances such as severe medical conditions or family or personal trauma. For further information, visit http://www.jcu.edu.au/student/assessmentexams/ 4.4 Student support James Cook University is committed to ensuring people with disabilities, injuries, illnesses or health conditions are able to participate to the fullest possible extent in the educational programs offered by the University and all other aspects of University life. Students with disabilities, injuries, illnesses or health conditions, who require special arrangements or consideration, should contact AccessAbility Services (see table below). If you want further information regarding: Visit the URL AccessAbility Services http://www.jcu.edu.au/disability/index.htm Accommodation www.jcu.edu.au/accommodation/ Careers and employment www.jcu.edu.au/careers/ Childcare http://www.jcu.edu.au/student/support/JCUPRD_017384.html Counselling www.jcu.edu.au/student/counselling/ Enrolment http://www.jcu.edu.au/student/enrolment/index.htm Feedback and complaints http://www.jcu.edu.au/student/complaints/index.htm Fees and financial support www.jcu.edu.au/student/Loans/studentloans/ Inclusion and engagement http://www.jcu.edu.au/studentequity/ Indigenous student support http://www.jcu.edu.au/getready4uni/life/JCU_117712.html Information for current students www.jcu.edu.au/student/ International student support http://www.jcu.edu.au/international/ Learning skills/ Language support http://www-public.jcu.edu.au/learningskills/ Library and computing services http://www-public.jcu.edu.au/libcomp/index.htm Librarians – Faculty http://www-public.jcu.edu.au/libcomp/library/contacts/liaison/index.htm Responsibilities and rights http://www.jcu.edu.au/student/responsibilities/index.htm Review of Assessment and Student Access to Scripts and Materials Policy http://www.jcu.edu.au/student/assessmentexams/ Special Consideration, Supplementary, Deferred and Special Examinations Requirements http://www.jcu.edu.au/student/assessmentexams/ Student Academic Misconduct Requirements http://www.jcu.edu.au/student/assessmentexams/ Student Policies http://www.jcu.edu.au/policy/student/ Student Association http://www.jcu.edu.au/studentassoc/ Students enrolled at JCUS, JCUB or BJUT should access support services provided on their campus
[/et_pb_text][et_pb_text _builder_version="4.9.3" _module_preset="default" width_tablet="" width_phone="100%" width_last_edited="on|phone" max_width="100%"]
| Subject | Business | Pages | 16 | Style | APA |
|---|
Answer
-
Introduction
An adage goes, “Success is sweet, but never comes easily.” I am compelled to relate this statement to most businesspersons because of their success. Study shows that the most successful individuals in the world are business owners and not employed. The secret lies in knowing the channel and strategies to use because they are what determine the milestone the business surpasses. A list of successful people includes Mark Zuckerberg – owner of Facebook, Bill Gates – owner of Microsoft, Richard Branson – owner of Virgin Group, Steve Jobs – owner of Apple brand, Aliko Dangote – the richest person in Africa, not forgetting the many successful business people in the world.
One key feature about these successful people is that they are self-propelled and self-driven (Frederick, 1988). They develop ideas and ensure that they materialize. In addition, they are highly risk takers; and, of course, they do not take blind risks but they do that after thorough research on the market gap in terms of demand and supply balance of products and services. Such people are quick to grab an opportunity and maximize on it to ensure that they achieve the full benefit from it. These people have made a huge impact on the world such that it is like they are the ones who run it. The respect that they are given is unbelievable, even the state or government sometimes loosens grip when dealing with them (Welford & Gouldson, 1993).
An ideal business is entitled to survive in the environment that it is in. The forces of demand and supply are uniquely balanced such that, despite the competition, a business never lacks its share of the market, which are the customers. Successful businesses organizations have found a way to impact their customers such that they always come back for more of what is offered, and this greatly contributes to the success of such organizations. The trick that successful business organizations use is to ‘play with the mind of the consumer’ and convince them that their products or services are the best. In a nutshell, they do ordinary things in an extraordinary way (Chaudhuri, 2002).
Case study
An example of a successful business is the Emirates Airline, world’s leading airline company managed by the United Arabs Emirates (UAE) country. This airline company is highly appreciated by most travelers who use it. To start, the airline has the same types of aircrafts that most airline companies have; but what makes it stand out among other airline companies is the excellent service that they offer its passengers, making them always to want to travel with them. No wonder, in Dubai alone, after every minute an Emirates Airline plane either takes off or lands – perfection has made them gain the highest customer numbers in the world.
Frederick (1988) states that the success of a business is contributed by identification of the right gap in the market, and to find strategic ways to fill it. Market research together with an understanding the business environment – nature of products or services to be given, nature of the customers and their needs, the competitors, government and legal process operations, production cost and price of products, and future prospects of the business regarding growth and survival. All the above are important considerations that a business person ought to consider before venturing into a business (Welford & Gouldson, 1993). This report aims to look into the above factors and the survivability chances of a business basing on the same factors.
1. Business and General Business Environment
Description of the Business and its Competitive Environment
My company of choice is called Posh India, a leading private retail company in India. Founded about 30 years ago and now services the whole of India. The company has experienced significant growth over the thirty years, starting with only one branch and now has over 180 retail branches in India with plans for going global. The company has created employment opportunities to over 60,000 people, with a strong task force starting from the top managers that ensure that production targets, quality parameters as well as the welfare of the staff are well taken care of in order to realize maximum performance and output from them (Ward, Duray, Leong & Sum, 1995). In addition, majority of the staff come from the rural areas, and this promotes rural employment as well as contributing to the preservation of the ancient Indian handicraft culture hence promoting the national heritage.
The products of Posh India Company are made from local techniques, hand-based but with a touch of perfection from highly qualified and experienced staff. The company started as a wholesale but has managed to root itself as a major player in the retail sector. It makes immense products including garments for infants, children, women and men; home interior furnishing – curtains, bed, table, kitchen, and carpets; garment accessories; non-textile products like lamps, furniture and stationery (Kaufmann, Hellman, Jones & Schankerman, 2000). The company has plans to venture into agriculture and to deal specifically with the production of organic foods and personal care products.
The target customers are infants, children, youth, men, and women, and the customers are located all over in India. To ensure that the company achieves maximum sales, the strategy used is to target many customers by selling the products at affordable prices (lower price, more sales). The main competitors are other textile companies who offer almost similar products and are located in India although sometimes the company faces competition from other countries like China, who sell their products at a lower price than the company’s products. One shortcoming that the strategists of our company have observed is that products coming from outside countries are cheaper than but not as durable as the products made locally.
Despite the company facing stiff competition from other companies, it has been able to compete favorably and has seen constant significant growth regarding annual profits. The market share of the company lies at approximately 13% with the market leader enjoying 16% of the total market share. Other competitors have a cumulative market share of approximately 69%, and global competitors are having 2% of the share (Kaufmann, Hellman, Jones & Schankerman, 2000).
Nature of Competition
The nature of the competition is perfect competition. The cost of the company’s products is friendly and within the limit of average income earners. The demand is elastic. Therefore the company has very little control of the product prices – the prices are set by the forces of demand and supply. The company has made significant strides in terms of the market share and has been able to outpace most of its competitors using the perfection strategy – where any product or service is made with excellence, and in a way that meets and exceeds the expectations of the customers (Ward, Duray, Leong & Sum, 1995).
Posh India Company is not only among the leaders in terms of the market share but also in terms of looking after the welfare of the employees. Various systems have been put in place to ensure that employees are motivated through empowering them and motivating them. The company conducts employee development training to help its staff achieve personal growth. Last but not least the company has an outstanding and fair reward system that rewards performers and motivates underperformers to perform to realize the company’s goals.
2. Production Costs and Scales
The driving force of any business organization is the factors of production which when carefully managed contribute greatly to the success of the organization. Factors of production are the resources that serve as the building blocks of the economy; in other words, they are what people use to produce goods and services. Economists have identified four main factors of production namely: land, labor, capital, and entrepreneurship (Rasmussen, 2013); and each is significant to the business organization as seen below.
Factors of Production
First and foremost, land as a factor of production is the natural resource (the man has not contributed to its existence) used in the production of goods and services. This factor of production does not primarily categorize land only, but also includes anything that comes from it. Various resources are derived from land including forests, oil, minerals, and coal. Land and the resources therein provide the raw materials that are used to manufacture products. These raw materials can further be categorized as renewable like forests or non-renewable such as coal and oil. Landowners who lease their resource to entrepreneurs in turn earn rent (Samuelson & Nordhaus, 1985). The land is a fixed factor of production since it is less affected by the quantity of production in the short term. However, entrepreneurs may decide to expand it when the demand calls.
Secondly, labor is another factor of production that is equally important. Labor involves the human resource that is essential in the production of goods and services. At Posh India Company, there are various labor requirements in the vast departments. The employees who take part in the different roles like raw materials sourcing and preparation, manufacturing of the products, checking for the quality parameters, packaging, storage and dispatch comprise of the labor. Even other senior personnel like those in the human resources department also form part of the labor since they indirectly contribute to production by monitoring and ensuring that employee performance is maximized. Labor is a variable factor, and the number of employees in a business organization depends on the output needed and the time to be taken in meeting targets (Samuelson & Nordhaus, 1985).
On the other hand, capital as a factor of production is the man-made items and facilities that the labor uses in the production of goods and services. Capital includes machinery, tools, and infrastructure like buildings. For example, a person whose duty is to sew the garments may need a sewing machine, cutter, and a marker to produce the desired item. In addition, a maintenance technician may need tools like spanners to repair a machine (Rasmussen, 2013). Furthermore, all the manufacturing activities of the company need to take place in a building that offers the perfect condition for the smooth running of the activities. Capital is a variable factor, just like labor because for example the number of machinery needed in production depends on the market demands.
Lastly, entrepreneurship wraps up the list of known documented factors of production. By definition, an entrepreneur is a person who combines all other factors of production to realize profit. Entrepreneurs are innovators and risk takers, and successful ones are defined by their ability to synchronize all the other factors of production in a manner that realizes maximum output from them. Entrepreneurs are the engines of the economy, talk of Steve Jobs, Richard Branson, Bill Gates, Aliko Dangote and many others; without them then we would not have seen the many innovations that we see today. Entrepreneurs through their innovations have been able to discover a myriad of opportunities that increasingly shape the world and help in growth and development of people through the creation of employment opportunities. This is a variable factor because innovation and management of other factors of production are prompted to be dynamic due to the ever-changing consumer demands and competition.
Cost Structure of the Business
On the relationship between fixed costs and variable costs, Posh India Company has higher variable costs compared to fixed costs. This shows that the cost-per-unit is steady hence denoting that the gross margin, operating margin, and profit margin is also steady (Rasmussen, 2013).
3. Macro business environment
The macro environment of a business plays a very sensitive role not only to the business organization in the subject, but the overall business organizations (Miles & Scott, 2005). The macro environment comprising of the socio-economic factors and government factors receives little influence from a single organization but has a mammoth impact on business organizations.
Political Stability of India
Over the last ten years, India has been experiencing an unstable political system that has threatened the economy of that country. Investors shunned away from putting their investments in that country, and this has drastically affected the people. But recently, the political and economic systems have been stable, and this attracted investors from other countries like Canada to invest in that country. In 2014, the total recorded investment summed to about $3 billion (World Bank, 2014), this is equivalent to 195 Indian Rupees, quite a lot of money!
Inflation, Unemployment and Interest Rates – India
The inflation rate of India averages to about 3.78% annually. The unemployment rate specifically to youth aged 18 - 25 years has been increasing every year due to insufficient opportunities for them. The trend has been 3.5%, 3.6%, 3.7% and 3.8% for the years 2011, 2012, 2013 and 2014 respectively. The interest rate has been averaged to be 10.2%, 10.6%, 10.3%, and 10.3% for the years 2011, 2012, 2013, and 2014 respectively (World Bank, 2014).
Exporting Products to other Countries
The main customer for Posh India Company is the United States, and with the fluctuating dollar strength the company’s profits have also been affected. Currently, the exchange rate stands at 65.52 rupees per dollar; over the past five years it ranged between 45 to 67 (World Bank, 2014). It is not clear whether the economy of India is booming or recessing because of the inconsistency in the figures, but maybe in the next five years some clear data will tell about the status of the economy.
Analysis of the Macro Economic Conditions
From the evaluation of the political and economic systems, it is so evident that more investors have put a lot of trust in India as seen in their willingness and contribution in terms of investments. With innovation and continuous improvement, Posh India Company has strong research, marketing, and product development team that is committed and experienced. To stay on top of the game, the company develops products and services by attachment to the ever-changing consumer requirements. Raw material acquisition will not be significantly affected incase of failures in the supply chain because the company has a strong supply chain network (Miles & Scott, 2005). In a nutshell, the business organization is purported to survive in the competitive market.
4. Sustainability Practice of the Business
a) Production vs. Externalities
As seen above, Posh India Company uses traditional and locally available raw materials to make its products, except for some unique fabric raw materials that the company occasionally outsources from other countries depending on the order from customers. A beneficial feature of the nature of the company is that the raw materials and products are safe and non-pollutant to the environment; even the machinery used are driven by electric power hence they are safe to the environment (Russel, KPMG & Confederation of Business Industry, 2002). Also, the company has a subsidiary branch that makes use of waste derived from fabric to make other products that are also safe to the external environment. The company makes use of this advantage to educate and create awareness to the public on the importance of sustainable production of goods and services. This has made the company scoop numerous awards and recognition from global leaders and the government for this noble duty.
b) Consumption vs. Externalities
The use of Posh India Company products by consumers has received positive feedback from clients because of their simplicity, safety, and quality. The products are easy to reuse or recycle hence minimizing chances of wastes. With the future prospects of the company to go organic by producing organic agricultural products, then the beneficial score of the company to the external environment will be high. The company is aiming at using this advantage to create more employment opportunities and to contribute to the food sector by providing product substitutes to the market (Great Britain, 2010).
c) Business Sustainability and Long-term Business Viability
Successful businesses plan for their sustainability and survival in the long run. With the above strategic plans demonstrated by Posh India Company that are directed for the future, it is important to note that the business life cycle will experience infinite growth. This is attributed to the increasing demand for food and the paradigm shift of the world towards the acceptance of organic products (Russel, KPMG & Confederation of Business Industry, 2002).
Conclusion
In conclusion, the economy of scales and the forces of demand and supply play a paramount role in determining the survivability of a business organization. Understanding and properly managing the factors of production guarantees the success of a business venture. Maintaining a balance between the variable and fixed factors help an organization to maximize output and profit while minimizing the cost.
Furthermore, the macro environment of the business needs to be carefully analyzed so as to tap full benefit from it. Entrepreneurs need to know the legal requirements including the dos and don’ts and the legal implications when breaching a law. Last but not least, to ensure that the business survives in future entrepreneurs need to actively innovate new products and services that compete favorably in the market. Last but not least, a famous quote by Foster goes, “Quality is never an accident. It is the result of a high intention, sincere efforts, intelligent direction, and skillful execution.”
References
|
Bottom of FormBhandari, A. K., & Maiti, P. (2007). Efficiency of Indian manufacturing firms: textile industry as a case study. International Journal of Business and Economics, 6(1), 71-88. Chaudhuri, S. (2002). Economic reforms and industrial structure in India.Economic and Political Weekly, 155-162. Frederick, W. C. (1988). Business and society: Corporate strategy, public policy, ethics. McGraw-Hill Companies. Great Britain. (2010). Business sustainability. Edinburgh: Forestry Commission. Kaufmann, D., Hellman, J. S., Jones, G., & Schankerman, M. A. (2000). Measuring governance, corruption, and state capture: How firms and bureaucrats shape the business environment in transition economies. World Bank Policy Research Working Paper, (2312). Miles, D., & Scott, A. (2005). Macroeconomics and the global business environment. Hoboken, NJ: Wiley. Rasmussen, S. (2013). Production economics: The basic theory of production optimisation. Berlin: Springer. Russell, J., KPMG., & Confederation of British Industry. (2002). Business sustainability. London: Caspian. Samuelson, P. A., & Nordhaus, W. D. (1985). Economics. New York: McGraw-Hill. Ward, P. T., Duray, R., Leong, G. K., & Sum, C. C. (1995). Business environment, operations strategy, and performance: an empirical study of Singapore manufacturers. Journal of operations management, 13(2), 99-115. Welford, R., & Gouldson, A. (1993). Environmental management & business strategy. Pitman Publishing Limited.
|