Economic efficiency

Perfect Competition Perfect competition is the market structure in which there are many sellers and buyers, firms produce a homogeneous product, and there is free entry into and exit out of the industry (Amacher, R., & Pate, J., 2013). The model of perfect competition is defined by many buyers and sellers to the extent that the supply of one firm makes a very insignificant contribution to the total supply. Both the sellers and buyers take the price as given. This implies that a firm in a…

Contents Introduction 2 Question 1 3 Question 2 7 Question 3 8 Conclusion 9 References 10 Figure 1: Table presenting an analysis of the competitive intensity Syngenta faces 4 Figure 2: Graph presenting a Seven S model 7 Figure 3: Table presenting an internal analysis of the current state of Syngenta 7 Figure 4: Table presenting internal growth strategies to choose for Syngenta 8 Figure 5: Table presenting application of growth strategies 9 Introduction Strategic management (strategic…

These tools can be used in the measure of changes. They are Effectiveness and efficiency, Customer satisfaction, Staff satisfaction, Access / environment, Cost and benefit of the change and Waste of resources. Effectiveness and efficiency – organisational and quality assurance, staff appraisals and staff meetings to check and balance any inadequacy cy in the organisation. Customer satisfaction can be monitor…

recognition that the welfare state plays an important role in social capital creation. More precisely, it is argued that the capacity of citizens to establish social trust and their preparedness to engage in cooperative behavior is highly dependent on the efficiency and trustworthiness of bureaucratic institutions. In most countries, citizens frequently interact with welfare-state institutions and government services, whether it is for childcare, social benefits or health care. These regular…

Personalizing prices and customizing the menu offered can lead to significant profit improvements. 1. The method could not solve the case where customers are assumed to be homogeneous and fixed costs are neglected. Redesigning product lines in a period of economic crisis: a hybrid simulated annealing algorithm with crossover (Tsafarakis, S. ,…

Abstract Cosmopolitanism gives the idea of a ‘world citizenship” or citizens of the world where people are usually viewed as belonging to all parts of the world not just one country. Ribeiro (2005, 19) discusses the idea of cosmopolitanism as a western notion that showing the need social agents have to consider political and cultural entity. This entity is described as larger than their own homeland, which would comprise of every individual a global scale (Ribeiro 2005, 19). Cosmopolitanism is…

1. How well is Jones Electrical Distribution performing? What must Jones do well to succeed? Founded in 1999, Jones Electrical Distribution (J.E.D.) operates in electrical components and tools industry, manufacturing items used in the construction and repairing of commercial and residential buildings. Following the seasonality of the construction work, the sales of the company are strongly dependent from the seasons with the highest degree of the activity in spring and summer. The market where…

century, the United States has been the world’s sole economic and militaristic superpower—however, some economists recently suggests that China’s economy in the recent years might be able to rival and or surpass that of the United States. These claims of China’s rising power is exacerbated by Americans’ fear of losing our established position as the economic powerhouse. The exaggerations are far from the actual truth of the positions of China’s economic power compared to the United States.…

processual, evolutionary and systemic: Classical theory of management, it is prevalent in the first half of the 20th century tissue introduced in the 19th century, for example, specialized in solving industrial management issues, and seeking efficiency, improve quality, reduce staff and the relationship between the cost of administration. His other administrative theory a number of small and medium-sized enterprises are still building their own business, you are using in order to be…

costs somewhere in the mix (Sexton, 2012). With scarcity, we have unlimited wants, and limited resources and competition can make it difficult for allocating resources and efficiency makes the economic pie as large as possible (Sexton, 2012). For firms to compete, they have to become more efficient, and efficiency causes products to be better and cheaper, as Adam Smith said, "price is like an invisible hand to guide buyers and sellers to an outcome that is desirable" (Sexton, 2012).…