Cost-of-production theory of value

that can cut lead times to market the product right from design to production to delivery. In other words, we can say that customers want quick response to their demands and the one which satisfies them in minimum possible time is the winner. Another major demand from customers is high/good quality products/services…

theme regarding eco-resource and products developed by different actors Ziziphus mauritiana. The wild offers habitat to a sizable wildlife population and is vital in prevention of soil erosion and the community is livelihood. The Muzarabani community value the Ziziphus mauritiana for income fruits, beer brewing, medical properties etc. effort in sustainably manage the Ziziphus mauritiana have been complex involving various actors. Ziziphus mauritiana being an open access resource especially…

transportation and distribution then coordinate between them in a seamless process. The introduction of supply chain management helps organizations to reduce their operational cost by many times. Management of supply chain not only helps to reduce the cost of operation it also saves time which indirectly helps to save cost again. Supply chain management helps to introduce a harmony within the organization and its operation. Since there are many advantages of supply chain management in today’s…

One in three children aged 2 to 15 years old are classed as overweight or obese (The Lancet, 2016). These shocking levels led the UK government to introduce a soft drink levy, with supporters including Jamie Oliver. Being a demerit good, the harm sugar does tends to be ignored (Schroyen, 2005), which has led to over indulgence, particularly in the form of sugary drinks as they are not thought of as on par with chocolate or cake. The problem is that sugar is a good which maximizes utility in the…

Michael Porter also formulated a theory of how company can select a business level strategy. The organization must choose between two basic ways of increasing the value of an organization’s product which is differentiating the product to add value or lowering the costs of value creation. Based on Zara’s company the business level strategy is based on focusing both and differentiation cost leadership. Most important point of this strategy is to maintain balance between low cost and differentiated…

In the heterotrophic production, microalgae are grown in the dark and energized by organic carbon substrates in mixing fermenters or bioreactors. With no necessity for light energy, the system can have smaller surface-to-volume ratio of the reactor. The design can be minimal and easier to control its physical conditions due to no exposure to the outside light source. However, this system requires more total operational energy than the photoautotrophic mechanisms, since this process requires the…

When explaining why people choose to smuggle, I will draw from the work of Gary Becker and his model of rational choice theory for crime. When trying to understand the effects of smuggling in Mercantilism, I will build of the work of Peter Andreas(2013) who asserts that smuggling was necessary for America to prosper, Senior (1828) who thinks smuggling rectifies bad laws,…

named the Ford Pinto to answer gaining back market share against the foreign automakers. In order to roll it out on time, Ford Motor Company would need to cut the design and production period nearly in half of a normal schedule. Due to the fast-tracked timeline, the Pinto went through the testing phase after the production of the car. Unfortunately, Ford discovered, during the testing, there was an issue with the placement of the gas tank if the Pinto endured a hit on the rear bumper at speeds…

Utilitarianism is an ethical theory that determines right from wrong by focusing on the end outcomes (O’Brien). Greek philosophers defined what is ethical as that which creates the greatest balance of pleasure over pain, in other words the greatest good for the greatest number. In business, utilitarianism is usually the most frequent approach to moral reasoning because of the way it considers for cost. Utilitarianism only considers the consequences of an action and in this case utilitarianism…

instrumental rational action, which is “strategic, cost-benefit action” (Dillon 2010, p.130), links with Marx’s ideas about surplus value. These theories highlight the process of accumulation of wealth/capital, which they then reinvest. Thus, Weber agrees with Marx’s analysis of the basic reproductive features of the capitalist system, and the economic determinism in modern capitalism. Moreover, Marx believed that similarly to other modes of production, capitalism was the result of material and…