Pareto efficiency

Decision making theory PREVIEW Decision making is the core of the planning phase. Decision making is an essential process of identifying the problems and resolving them. This report will presents information on decision making and how it relates to the first management function of planning. Also, there are two types of decision; programmed and non-programmed. A programmed decision is structured decision made in response to a situation that has occurred often enough or repetitive, non-programmed…

Well being was evaluated through consequences and for this the consequentialist approach was utilised. The utilitarian approach used the consequentialist view as its basis while trying to comprehend what is well-being. Consequentialist approach only takes into account the end result and not how it was achieved, the way it was achieved or what kind of means were chosen in order to reach the end.This is where deontological theory comes in . For them, the way in which the end result is achieved…

W. Edwards Deming Dr. W. Edwards Deming was a world-renowned expert on teaching that higher quality leads to higher productivity and lower costs. Dr. Deming was a trained statistician and an expert on improving the quality of war materials during WWII. He continued this expertise in quality and resource management after war ended, and was invited by the Japanese industrial leaders and engineers to Japan (Institute, 2005). The goal of the Japanese business leaders was to change the perception the…

The leadership style The leadership style that Mr. X should follow is transformational leadership style. Transformational leadership is an approach where the leader causes change in individuals and social system. It create positive changes in subordinates by developing them into leaders. This leadership style enhances the motivation, morale and performance of subordinates. It inspires subordinates to achieve remarkable results. It gives subordinates autonomy over specific tasks and jobs while…

Financial planning is the process of implementing financial strategies and concepts in a coordinated and integrated manner, in order to uniquely address an individual’s financial needs, goals and concerns. Financial planning, in broad terms, encompasses cash flow and budgeting needs, protection planning concerns relating to life insurance, disability coverage and health care, investment planning and asset management, tax planning, retirement planning and estate planning. The process of financial…

entirely at their discretion. Therefore, theoretically, two sets of DM's could produce two completely different strategies for the same company. It must be pointed out however that this is more likely the case for the BSC as MCDM attempts to measure efficiency using the actual inputs and outputs of the relevant DMU’s. In neither case is there a formal selection process for DM's, for example what level within the company should they be? What about the suitability of external DM's? How many DM's…

2) F. A. Hayek, in his seminal work titled The Constitution of Liberty, argues, “General altruism, however, is a meaningless conception. Nobody can effectively care for other people as such; the responsibilities we can assume must always be particular, can concern only those about whom we know concrete facts and to whom either choice or special conditions have attached us. It is one of the fundamental rights and duties of a freeman to decide what and whose needs appear to him most important.”…

 Not fit for rural India  Market share reduces from last few years  Products are costly Opportunities  If they able to improve efficiency, it will be a golden opportunity to take over the market  Can install new branches and ATMs across the country Threats  Main threat to J&K Bank ltd is their competitors like State Bank of India, Punjab National Bank, ICICI Bank, IDBI Bank and…

Introduction Controlling and improving quality has become an important business strategy for many organizations, manufacturers, distributors, transportation companies, financial services organizations, health care providers, and government agencies. Quality is a competitive advantage. A business that can delight customers by improving and controlling quality can dominate its competitors. 1.1 Definition of Quality Control Quality control (QC) is a procedure or set of procedures intended to…

sustainable economic growth. Deterioration in regional differences also contributes to political stability and public welfare. It is known that money flows from lower to higher in a market economy. In public economy income is reallocated to achieve Pareto efficiency. If there is no program such as LATP there is no way to flow income of high earners to low earning people. Because of income reallocation citizens can enjoy public common assets with low…