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Thursday, 1 October 2009
Wednesday, 30 September 2009
Business Homework
What extent is profit a good indicator of the success of a business such as BP?
what is profit?
The positive gain from an investment or business operation after subtracting for all expenses. opposite of loss.
profit is a good indicator of the success of a business such as BP, because, If a company get high profit, which means they have large potential of market share, and customer's loyalty. So it will be attract some investors. Therefore they have high market share and financial guarantee, people will think this business may is good. However,if people just concentrate on how is the profit going on, I do not think it is a good way to measure a business is success or not, I know get high profit is the most important aim of every business. But there are other way to measure a business. For example the communication between employer and employees, the manage skills and the cash flow, all of them are good indicator of the success of a business, because if there are bad relationship between employees and employers how a company can operate normally, it will be demotivate their labour, as well as productivity. So if labour has low confidence and a industry has low productivity how a business can achieve successful? Also get high profit not only in long term , but also in short term, for example in summer the demand of ice cream is very high, so people will spend a lot of money on it, thus the ice cream company will get high profit. Whereas in winter, just a few people will purchase on ice cream, so the company will loss a lot, Therefore we can not measure this business is successful or not.
However profit is a good indicator of the success of a business, but it need related other aspect as well, because profit is not a full picture to a business.
what is profit?
The positive gain from an investment or business operation after subtracting for all expenses. opposite of loss.
profit is a good indicator of the success of a business such as BP, because, If a company get high profit, which means they have large potential of market share, and customer's loyalty. So it will be attract some investors. Therefore they have high market share and financial guarantee, people will think this business may is good. However,if people just concentrate on how is the profit going on, I do not think it is a good way to measure a business is success or not, I know get high profit is the most important aim of every business. But there are other way to measure a business. For example the communication between employer and employees, the manage skills and the cash flow, all of them are good indicator of the success of a business, because if there are bad relationship between employees and employers how a company can operate normally, it will be demotivate their labour, as well as productivity. So if labour has low confidence and a industry has low productivity how a business can achieve successful? Also get high profit not only in long term , but also in short term, for example in summer the demand of ice cream is very high, so people will spend a lot of money on it, thus the ice cream company will get high profit. Whereas in winter, just a few people will purchase on ice cream, so the company will loss a lot, Therefore we can not measure this business is successful or not.
However profit is a good indicator of the success of a business, but it need related other aspect as well, because profit is not a full picture to a business.
Tuesday, 29 September 2009
Group Exercise 9
In fact, a company employing child labour is illegal, and we always say that is against business ethic in general, Because the child labour is under 16 years old which means they did not achieve the minimum standard education, and because of they spend a lot of time to work instead of to go to school, it bad for their future,which bring the negative externality to the society as well. Whereas,what is business ethic stand for? Business ethic means a form of applied ethics that examines ethical principles and moral or ethical problems that arise in a business environment. In my opinion it is difficult to measure if the business is ethics or not.
For example,Nowadays more and more child would like to take a job rather than to be educated , especially the children's family who living in poverty,in terms of this situation, if the child who can find a job it could helps them in the future development of life standard. So some company, like sportswear business, they want to cut the cost so they recruit and use child labour, even though it is illegal, however, if children want and willing to do it may help them to get money, and for those business use child labour can reduce their cost which is achieve their corporate objective. therefore in this situation it good for both of them. But in another hand, Child do not have enough experience or power to be responsible a job which is suitable to a adult, in constract an adult had completed his education and maybe richness knowledge. Also the child labour in some countries is really poor, they work very hard, but their boss still give them low wages, or some managers in a company do not care if they are child or not and give them some massive missions, and because of that some children get ill or keep bad health. So this behavior is absolutely against the business ethics.
I would like set the sport wear business moves production of its trainers to a country that employs child labour in order to cut the production cost at first of the rank. Because to my way of thinking they may employ the child labour to the first floor to produce the materials,and because they want to reduce the cost they would like to pay low wages to those children, and the mission of children there will not be relax. For example some of those child labour in order to earn more money, they may over working, then they eat a little, go back home very late and so on. those elements above will leading the child labour keep a bad healthy and some safety problems also if they make some mistakes they boss can easy to cut their wages , meanwhile they will be easy to fire by their boss. So i think it is not fair for these child labour. In another hand because of child labour is illegally, they may get a bad work condition from this company because this company need hire them and the child labour do not really care about the work condition, but there are some potential problem. For example if they work there for a long term it will be demotivating, also there will be some accident happened cause of the bad work condition.
In summarise , I think the 9th action is first if the rank, the reason of this is which I mentioned above. How do you think of it?
For example,Nowadays more and more child would like to take a job rather than to be educated , especially the children's family who living in poverty,in terms of this situation, if the child who can find a job it could helps them in the future development of life standard. So some company, like sportswear business, they want to cut the cost so they recruit and use child labour, even though it is illegal, however, if children want and willing to do it may help them to get money, and for those business use child labour can reduce their cost which is achieve their corporate objective. therefore in this situation it good for both of them. But in another hand, Child do not have enough experience or power to be responsible a job which is suitable to a adult, in constract an adult had completed his education and maybe richness knowledge. Also the child labour in some countries is really poor, they work very hard, but their boss still give them low wages, or some managers in a company do not care if they are child or not and give them some massive missions, and because of that some children get ill or keep bad health. So this behavior is absolutely against the business ethics.
I would like set the sport wear business moves production of its trainers to a country that employs child labour in order to cut the production cost at first of the rank. Because to my way of thinking they may employ the child labour to the first floor to produce the materials,and because they want to reduce the cost they would like to pay low wages to those children, and the mission of children there will not be relax. For example some of those child labour in order to earn more money, they may over working, then they eat a little, go back home very late and so on. those elements above will leading the child labour keep a bad healthy and some safety problems also if they make some mistakes they boss can easy to cut their wages , meanwhile they will be easy to fire by their boss. So i think it is not fair for these child labour. In another hand because of child labour is illegally, they may get a bad work condition from this company because this company need hire them and the child labour do not really care about the work condition, but there are some potential problem. For example if they work there for a long term it will be demotivating, also there will be some accident happened cause of the bad work condition.
In summarise , I think the 9th action is first if the rank, the reason of this is which I mentioned above. How do you think of it?
Monday, 28 September 2009
Dilemma 7 The liar
OK, after I read this Dilemma, I think Bernard do the right thing. Because Bernard and Zjamel have a extent love affair, and for both of them believe each other. However Zjamel doubt Bernard has an affair with Ethel, but I think even though Zjamel doubt them in fact she do not want to trust it, because girls always like this. Therefore if Zjamel ask Bernard about this thing, he will not tell her the truth. For Bernard this is like opportunity cost, because if he tell Zjamel about this truth, it will be hurt her, and then they will break up maybe, and cause of Bernard and Ethel just affair which is means they will not keep a long time, so when they stop this affair, Bernard lose Ethel as well. So the resulting for tell truth to Zjiamel is lose two of them. In contract, if Bernard lying the will change the situation. Like the article mentioned about the Nietzsche's dictum that 'lying is a necessity of life' , so if Bernard tell Zjamel he do not have an affair with Ethel, it makes Zjamel feel better, and then their heart will become more close maybe. This is like trade off, Bermard tell the lie to Zjamel but he keeps Zjamel to stay with him, but he lost Ethel, at the end of the article, they mentioned about that Bernard and Ethel have got board of affair, so it means they stop their affair. Bernard and Zjamel still together. So i think Bernard did a right thing.
Sunday, 27 September 2009
The law of diminishing return
After I read Siyi's blog, I decide that I will write about the law of diminishing return as well.
In economics, diminishing returns refers to how the marginal production of a factor of production, in contrast to the increase that would otherwise be normally expected, actually starts to progressively decrease the more of the factor are added.
For example the land, it leading to restrict the production, unless increase the land and improve the production then the performance will be getting better. How is the law of diminishing return relative marginal cost marginal cost is the change in total cost resulting by one extra output per unit.Thus once the diminishing return start, the marginal cost curve slop upwards,
because when the diminishing return achieve the obtain points it start to increase, for example, there are one people use computer to produce a product, therefore when he stop use computer, the product will be stop to produce. Then the industry will recruit one more labour, thus when the first staff go to rest, then second one will continue to produce, therefore the output will be increase. However if the industry still recruit more labour to work in this industry,For instance if there are 3 people use the computer together, it increase the output, but the marginal cost will increase as well, because the company will spend more on the labour salaries, and also the third one may get less salaries than the first and second one, so he will think it not fair and demotivating too.
In economics, diminishing returns refers to how the marginal production of a factor of production, in contrast to the increase that would otherwise be normally expected, actually starts to progressively decrease the more of the factor are added.
For example the land, it leading to restrict the production, unless increase the land and improve the production then the performance will be getting better. How is the law of diminishing return relative marginal cost marginal cost is the change in total cost resulting by one extra output per unit.Thus once the diminishing return start, the marginal cost curve slop upwards,
because when the diminishing return achieve the obtain points it start to increase, for example, there are one people use computer to produce a product, therefore when he stop use computer, the product will be stop to produce. Then the industry will recruit one more labour, thus when the first staff go to rest, then second one will continue to produce, therefore the output will be increase. However if the industry still recruit more labour to work in this industry,For instance if there are 3 people use the computer together, it increase the output, but the marginal cost will increase as well, because the company will spend more on the labour salaries, and also the third one may get less salaries than the first and second one, so he will think it not fair and demotivating too.
Thursday, 24 September 2009
Transport Economics
What is transport means? Transport is the movement of people or goods for various personal and business reasons. Transport as a derived demand, people want transport because it enable them to do something, for example, business require goods transport in order to carry out activities within their supply chain( supply chain means is a system of organizations, people, technology, activities, information and resources involved in moving a product or service from supplier to customer)
The mode of transport
1. Road-private car
2. Road-bus
3. Rail
4. Air
5. Ferries
Now let’s talk about the factors determine whether a manufacturer should use road or rail transport for distribution of its goods.
I think it depends on different manufacturer. for example for some industries, the road transport almost use van, but the capacity of those car is not enough for transport a lot of goods, so the supplier may need cost more to transport the goods again and again. Opposite, if manufacturer choose rail transport may will solve this problem, because the capacity of rail is quite big, therefore, it reduce the cost. However, sometimes, car transport can satisfy different places demand, but rail can not, because rail transport has specific destination, and road transport is more convenient, it can go to the place which rail transport can not arrive. In another hand, the risk of rail transport may worse than road, because use rail transport will meet some natural problem, like when they transport some goods very expensive and cause rail transport use the train, so the capacity of train is big, so they transport all the goods at once, but if they meet some natural problem like earthquake, they may lost all the goods, but if they use road transport, the natural problem will be better, people can avoid it. Thus I think it depends on different situation.
The mode of transport
1. Road-private car
2. Road-bus
3. Rail
4. Air
5. Ferries
Now let’s talk about the factors determine whether a manufacturer should use road or rail transport for distribution of its goods.
I think it depends on different manufacturer. for example for some industries, the road transport almost use van, but the capacity of those car is not enough for transport a lot of goods, so the supplier may need cost more to transport the goods again and again. Opposite, if manufacturer choose rail transport may will solve this problem, because the capacity of rail is quite big, therefore, it reduce the cost. However, sometimes, car transport can satisfy different places demand, but rail can not, because rail transport has specific destination, and road transport is more convenient, it can go to the place which rail transport can not arrive. In another hand, the risk of rail transport may worse than road, because use rail transport will meet some natural problem, like when they transport some goods very expensive and cause rail transport use the train, so the capacity of train is big, so they transport all the goods at once, but if they meet some natural problem like earthquake, they may lost all the goods, but if they use road transport, the natural problem will be better, people can avoid it. Thus I think it depends on different situation.
Wednesday, 23 September 2009
Explain the main factors affecting the supply of transport services for a transport mode of your choice
I would like talk about rail of transport services.
what are the factors might affect railway,let's see the characteristics of it. At passenger transport side, provide a speedy means of transport over middle to long distance, and into and out of congested cities and towns. Also it can carry large volumes of passengers in an environmentally acceptable way and is able to compete favorably with air on certain domestic routes. At the fright transport side comparative advantage over road for bulk shipments of basic products and for container traffic over longer distance. there are interchange limitations for certain types of potential traffic. Increasingly used fir intra-EU loads. After know these information above that I think infrastructure may affect it, for example if there are some damage of rail, the rail transport services can not operate, also if they meet some natural accident,like coast,Niagara and so on,those accident will stop the rail and it need a long time to fix the rail. In another hand, the factors of economic also can influence it. For example , with the income of people increasing, people may think about to use rail or not, some of them think about maybe rail will be more quickly than other transports services, because their are lower congestion and may lower price, and then they can save more money. Also they may think about, use rail transport services may waste the time, because almost use railway to transport some things need full capacity, if not the cost of railway will increase, so they need to wait, and also there will be some risks, like the natural accidents.So according to the opportunity cost, they may choose use car or another transport services. Also maintain rail, how to operate rail transport will effect it . etc.
I am not sure about my answer is right or not, I tried to understand the question and answer it,Mr Chris can you give me some suggestion.
what are the factors might affect railway,let's see the characteristics of it. At passenger transport side, provide a speedy means of transport over middle to long distance, and into and out of congested cities and towns. Also it can carry large volumes of passengers in an environmentally acceptable way and is able to compete favorably with air on certain domestic routes. At the fright transport side comparative advantage over road for bulk shipments of basic products and for container traffic over longer distance. there are interchange limitations for certain types of potential traffic. Increasingly used fir intra-EU loads. After know these information above that I think infrastructure may affect it, for example if there are some damage of rail, the rail transport services can not operate, also if they meet some natural accident,like coast,Niagara and so on,those accident will stop the rail and it need a long time to fix the rail. In another hand, the factors of economic also can influence it. For example , with the income of people increasing, people may think about to use rail or not, some of them think about maybe rail will be more quickly than other transports services, because their are lower congestion and may lower price, and then they can save more money. Also they may think about, use rail transport services may waste the time, because almost use railway to transport some things need full capacity, if not the cost of railway will increase, so they need to wait, and also there will be some risks, like the natural accidents.So according to the opportunity cost, they may choose use car or another transport services. Also maintain rail, how to operate rail transport will effect it . etc.
I am not sure about my answer is right or not, I tried to understand the question and answer it,Mr Chris can you give me some suggestion.
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