Relate business with economics

How you can relate business with economics?

Economics is how people choose resources to satisfy their unlimited wants and
Business is legal activity, done to earn profit. we can say economic is not same
as business however it relates with business in many ways, e.g.

Price elasticity of demand use to set price items.
Factors that change demand like customers taste
Fixed cost and variable cost use for decision making considering the affect of
product to customers.

Comments

Difference between Downsizing and Reengineering with real life example

Explain difference between Downsizing and Re-engineering with real life example? Downsizing = Downsizing is used to reduce the size in order to improve its financial performance, usually by laying off employees.Businesses use several techniques in downsizing, including providing incentives to take early retirement and transfer to subsidiary companies, but the most common technique is to simply terminate the employment of a certain number of people. Downsizing often takes place as part of a larger restructuring program at a company. Although it's usually thought of as a strategy companies use to become smaller, downsizing can also be the result of company mergers, acquisitions, and takeovers.Its most common form comes in employee layoffs, which reduce payroll costs for the company. Downsizing may also involve shuttering some operations or offering certain employees early retirement. Downsizing is typically seen during economic downturns in order to improve efficiency and

Difference between strong and week culture

Difference between strong and week culture? Culture it is the knowledge of a particular group of people, defined by everything from language, religion etc Cultural strength may be measured across a sub-culture or across the country. Strong culture In strong culture, employees and management understand what is required of them and they will try to act in accordance with the core values. Weak culture In weak culture there is greater need for procedures, policies and bureaucracy in order to get things done in the desired way Difference: Strong culture Week Culture 1-Individual behaviors consistently reflect group values 1-provides poor services which needs to be improved through policies 2-it Produces clarity. 2-Individual behaviors reflect a diversity of beliefs and values 3-less need for detailed policies and procedures. 3-Produce inconsistency in practice. s

How to Manage time to increase your focus.

The Most Successful person in the world is the one who value every second of their life That is why it is called Time is money. If you study history of the successful and rich people they all have one common and important habit which is time management. In time management you have to save time and utilize it in the right way in order to achieve your goals and this is the only thing which satisfy you and gives you the best return in the future. The Following tips will help you save and manage your time in order to increase your focus for achieving your most desired goals. Create a to do List. List all those tasks which you have to do and do it accordingly. Use Sticky Notes. Use sticky notes for important tasks which are urgent. Prioritize your tasks. Choose the most important tasks and set the priority tasks on the top of your list. Wake up Early in the morning. Waking up early have a big advantage as you can work in full peaceful environment with fresh mind.

ilmipedia

Search This Blog