steel, automobiles, household appliances Harder for a firm to enter or exit. · Imperfect competition Pure Monopoly · Only one firm is involved. · Products are unique with no substitutes. · Nonprice competition: mostly public relations · Entry of additional firms is not possible--one firm constitutes the entire industry. · Entry to the industry is often blocked by government. It requires patent or licenses. There is total control over price "Price Makers" · ex. local electric utility · Oil, · diamonds Since the monopolist produces a unique product, it makes no effort to differentiate its product. · Imperfect Competition Characteristics and Occurrence · Very large numbers of firms · There is a large number of of independently acting sellers, each offering their products in large national or international markets ex
- in the short, run the firm can alter the price and output; the firm is a "price maker" (or "price setter") Barriers to Entry (BTE) Social or political institutions or economic conditions that prevent firms from entry into a market. There are three major types of barriers to entry: economic, legal and deliberate. laws, regulations, patents, copyrights, trademarks, . . . location, natural ability, information, economics of scale (natural monopolies) Economic Barriers:Economic barriers include economies of scale, capital requirements, cost advantages and technological superiority Economic Barriers Economies of scale: Monopolies are characterized by declining costs over a relatively large range of production. Declining costs coupled with large start up costs give monopolies an advantage over would be competitors.
Cost Accounting. Chapter 1 Management accounting measures, analyzes, and reports financial and no financial information that helps managers make decisions to fulfill the goals of an organization. Financial accounting focuses on reporting to external parties such as investors, government agencies, banks and suppliers. It measures and records business transactions and provides financial statements that are based on GAAP. Cost accounting measures, analyzes, and reports financial and no financial information relating to cost of acquiring or using resources in an organization. Value-chain analysis: sequence of business functions in which customer usefulness is added to products and services. 1. Research and development 2. Design of products, services, or processes 3. Production 4. Marketing 5. Distribution 6. Customer service.
kompositsiooniviga Fallacy of composition Композиционные ошибки Positiivne tõus Positive slope Положительный наклон Verikaalne ja horisontaalne Infinite and zero slopes Вертикально и горизонтально Vertikaalne kõver Vertical intercept вертикально Sõltuv muutuja Dependent variable Зависимая переменная Otsene seos Direct relationship Прямая связь abtsisstelg Horizontal axis Ось – горизонтальная, абцисса Sõltumatu muutuja Independent variable Независимая переменная Pöördvõrdeline sõltuvus Inverse relationship Обратная зависимость
result than in pure competition The conditions of entry and exit to and from a monopolistically competitive market are similar to the purely competitive market; there are no major BTE. · Entry and exit are relatively easy. The relative ease of entry/exit makes the long run results of an imperfectly competitive market different from a monopoly. Price Discrimination - Question Does price discrimination raise or lower profit? Price discrimination selling the same good or service at a number of different prices. - Answer Price discrimination is a marketing means to increase economic profit Methods of price discrimination · Discriminate among groups of buyers - works when different buying groups are willing - to pay different prices (on the average) for the same good or service Example: Airline travel prices target business travelers vs
industry and firm to firm. Unlike commercial manufacturing supplies, services such as clinical supplies planning are very dynamic and can often have last minute changes. Availability of patient kit when patient arrives at investigator site is very important for clinical trial success. This results in overproduction of drug products to take care of last minute change in demand. R&D manufacturing is very expensive and overproduction of patient kits adds significant cost to the total cost of clinical trials. An integrated supply chain can reduce the overproduction of drug products by efficient demand management, planning, and inventory management. Traditionally, marketing, distribution, planning, manufacturing, and the purchasing organizations along the supply chain operated independently. These organizations have their own objectives and these are often conflicting. Marketing's objective of high customer service and maximum sales dollars
.......................... 2 1.2. Potential future utilization..............................................................................4 1.3. Why Don't We Use More Renewable Energy? ...........................................5 2. Energy Types 2.1. Wind Energy.......................................................................................................6 2.1.1. Annual Generation........................................................................................7 2.1.2. Growth and cost trends................................................................................8 2.1.3. Theoretical potential.....................................................................................9 2.1.4. Benefits of wind energy................................................................................10 2.2. Solar Energy........................................................................................................11 2.2.1 Development, deployment and economics.................
Replicability the ability of compeditors to use duplicates resources and capabilities to imitate the other firm's success Explicit knowledge knowledge that can be easily articulated and communicated Tacit knowledge knowledge that is not easily communicated because it is deeply rooted in employee experience or in the company's culture BUSINESS MODELS EXAMPLES: Customer solutions model Profit pyramid model Multi-component system/installed model Advertising model Swichboard model Efficiency model Blockbuster model Profit multiplier model Entrepreneurial model De Facto Industry standard model Business model generation Osterwalderi ärimudel: 4 valdkonda ja 9 bulding blocki 1. How a. Capabilities, Key resources, Partner network 2. What a. offer 3. Who a
............................................................eesmärk 9. A group leader ..................................................kaadriülem 10. A liability .........................................................kohustus 11. A matter-of-fact selling relationship ................asjalik müügi suhe 12. A payment order ..............................................maksekorraldus 13. A previous office experience - ............................eelneva kontoritöö kogemus 14. A Production engineer .....................................tootmisinsener 15. A purchase .......................................................ost 16. A sales call .......................................................visiit ostja juurde 17. A sales force .....................................................müügipersonal 18. A sales-directed communication ......................suhtlemine müügi eesmärgil 19. A slot machine ................................................
Durability - kestvus 6. Serviceability – lihtne hooldada 7. Aesthetics – esteetika, kuidas product lõhnab, välja näeb jne 8. Perceived Quality – üldine maine Industry Structure and Competitive Strategy Fragmented industry- palju väikseid firmasid väiksel turul Consolidated industry – paar suuri firma dominantsus Hyper-competition and Competitive Advantage Sustainability Competitive Tactics Requerements for Generic Competitive Strategies Overall cost of leadership Differentaiton Focus Market location tactics where a company implements a strategy • Offensive tactics • Defensive tactics Cooperative Strategies * Collusion * Strategic alliances Used to: − Obtain or learn new capabilities − Obtain access to specific markets − Reduce financial risk − Reduce political risk Corporate Strategy Directional strategy KASV , STABILITY, RETRENCHMENT Portfolio analysis
Its realy easier ofcours. I wrote to the Defence Forces library and asked to send me something about economi. Well , I got „International Economics“ by Hendrik Van den Berg. We had to read 100 pages. So I did. What I remmember about from 100 pages economics? There were a lot interesting what I didnt know before. It all started about U.S Economics. U. S Economy does not appear to be „globaal“ if look at its ratio of tarded otuput to GDP (Gross Domestic product, which is the total value added of production that occurs within a country-s borders, regardless of who owns the factors of production used in the production process.)U.S exports and imports only about 10% of its national output and consumption Services are difficult to export and import; if you need haircut or you want to go out tonight , you choose from among local suppliers. Rapidly growing ratio of manufacturing exports. Fact is, that manufacturing has accounted for a decreasing proportion of total U.S output
harming the environment Jürgen Aosaar Jaak-Albert Metsoja Ahto Oja BOVA cource on biogas from biomass March 3-7 2008 Tartu Deciduous tree species on abandoned agricultural land Current situation • The long term development plan of the Estonian energy industry foresees a reduction in the use of fossil fuels and an increase in the share of biofuels: by the year 2010 renewable energy must account for 5.1% of total energy consumption Current situation (2) • In Estonia we have abandoned arable land about 400 000 ha, part of it is overgrowing naturally, and another part has been afforested • For short-rotation forestry in Estonia, ecologically and economically the most suitable tree is probably grey alder, which is a highly productive and soil improving species Grey alder • The stock of grey alder (Alnus incana) in Estonia in 2005 was 35 millions m³. A
Tallinn 2004 2 PREFACE The Board of Directors of the Global Reporting Initiative (GRI) is pleased to release the 2002 Sustainability Reporting Guidelines. From an institutional perspective, it marks the beginning of the cycle of release, testing, review, and revision under GRIs new governance structure. The GRI was launched in 1997 as a joint initiative of the U.S. non-governmental organisation Coalition for Environmentally Responsible Economies (CERES) and United Nations Environment Programme with the goal of enhancing the quality, rigor, and utility of sustainability reporting. The first set of GRI Sustainability Reporting Guidelines appeared as an Exposure Draft in 1999. Following testing and public comment, the GRI released the June 2000 Guidelines. The 2002 Guidelines represent the GRI Boards view of a consensus on a reporting framework at this point in time that is a blend of a diverse range of perspectives.
financing criteria and priorities. The current reading material summarises the main aspects covered by lectures and structurises the information channels for the future. The course supports the other Traderun courses, especially the course related to EU cooperation with Russia and Eastern Partnership Countries. 4 1. UKRAINE 1.1. General information 1.1.1. Country Profile Capital: Kyiv. Total area: 603,550 sq. km (the largest country in Europe by area that is physically within Europe entirely). Population: ~ 45 million (declining). Major cities and estimated population (Good news! Not all the business and capital concentrated in the capital): Kyiv (Kiev) 2.8 million, Kharkiv (Kharkov) 1.5 million, Lviv (Lvov) - 1.5 million, Donetsk 1 million, Dnipropetrovsk (Dnepropetrovsk) - 1 million, Odesa (Odessa) 1 million.
· be that a national, regional, or the global economy The Economist's Dictionary of Economics defines Macroeconomics as - "The study of whole economic systems aggregating over the functioning of individual economic units. It is primarily concerned with variables which follow systematic and predictable paths of behaviour and can be analysed independently of the decisions of the many agents who determine their level. It is a study of national economies and the determination of national income." Macroeconomics examines the economy as a whole and answers questions · 'What causes the economy to grow over time?', · 'What causes short-run fluctuations in the economy?` · 'What influences the values various economic indicators and how do those indicators affect economic performance? Macroeconomics can be best understood in contrast to microeconomics.
overall economic output. It is the market value of all final goods and services made within the borders of a country in a year. It is often positively correlated with the standard of living, alternative measures to GDP for that purpose. · Gross domestic product comes under the heading of national accounts, which is a subject in macroeconomics. Gross National Product Gross national product (GNP), in economics, a quantitative measure of a nation's total economic activity, generally assessed yearly or quarterly. The GNP equals the gross domestic product plus income earned by domestic residents through foreign investments minus the income earned by foreign investors in the domestic market. Gross Domestic Product GDP can be determined in three ways, all of which should in principle give the same result. · They are the product (or output) approach, the income approach, and the expenditure approach.
and the Fund of obligatory medical insurance. 8. The representative of the founders of the company receives the documents after registration. 9. The head of the company (CEO) or a representative of the proxy opens a bank account. After committing all of these activities, the company is a registered business entity, and may work legally. Some of the timelines: Registration with the Tax Authorities 5-7 working days Company Seal production 2 working days Registration with the State Statistics Committee, with the non-budgetary funds (Pension Fund, Social Insurance Fund, Obligatory Medical Insurance Fund) is done by the tax authorities Opening of bank accounts depends on the bank Registration with the Federal Service for Financial Markets of shares emission 30 working days Limitations of foreign participation
How do we want to achieve our vision, given our current mission`? Steps: 1. Situation appraisal 2. Choice of the best strategy 3. Operationalisation 4. Organisation, budgets and control Internal analysis: strengths and weaknesses External analysis: opportunities and threats, the environment (CCC analysis: consumer, channel, competition). Lecture 3: Finance and accounting Turnover (sales) in numbers = total number of units sold Turnover in money = sales level, average sales price per unit x total number of units sold. VAT (Value Added Tax) 9%. Landed cost: a special case The total of: purchase price, shipment costs, insurance, customs clearance costs. Break even point gives the relationship between costs, turnover and profit/margin. Costs: - fixed costs: these are costs that do not vary with the change in sales. - variable costs
emissions. Barriers to DH in the UK, Ireland, France, Romania and the Czech Republic have been compiled through publications and interviews. DH systems require large investments, have negative initial cash flow and long payback time, which obstructs financing. One actor should control DH from source to consumption. If the value chain is fragmented, contracts are required between the links. It increases risks and financing costs, like in the UK and Ireland, where DH is not established. There are few multi- family houses with central heating and it is expensive to build DH networks in built areas. Most French DH systems are operated according to long-term concessions by companies that sell electricity and gas. No strong actor provides unbiased DH support. In the Czech Republic, gas offers DH severe competition. Much DH is produced at the expense of electricity that is
behavior of buyers is represented by "demand" (benefits side of model) behavior of sellers is represented by "supply" (cost side of model) Definition: "A schedule of the quantities of a good that buyers are willing and able to purchase at each possible price during a period of time, other things held constant" · Demand can also be perceived as a schedule of the maximum prices buyers are willing and able to pay for each unit of a good. Market demand The market demand function is the horizontal summation of the individuals' demand functions. In models of firm behavior, the demand for a firm's product can be constructed DEMAND DETERMINANTS · Price is the major determinant of the quantity demanded. · The nonprice determinants of demand are: - number of buyers, - tastes, - income, - price of other goods (either complementary or substitute),and
500.000 ships ensure that cargo is shipped around the world. Import duties have dropped to less than 5%. 4)Which industry is still heavily subsidized and needs further liberalization? Agriculture Since 1950 World Trade has grown 20 fold. The North American Free Trade agreement (NAFTA) belongs to Canada, Mexico and the Unites States. Liner trade means liner shipping is the service of transporting goods by means of high-capacity, ocean-going ships that transit regular routes on fixed schedules. A boat or ship engaged in the tramp trade is one which does not have a fixed schedule or published ports of call. Ship agent’s responsibilities: Representing the shipowner; Act as mandatory of the shipper. engage pilots, tugs and boatmen for his pricipal; arrange for ship’s store and supplies and bunkers to be delivered; handle inward and outward clearance; arrange moorings(sildamine); pay harbour dues and other fees;
bigger with a lot of energy inside them. Physics of wave energy To have a better understanding of the technical possibilities to harvest the energy out of waves to convert it into electric energy it may be helpful to have a look onto the physics of wave formation, the forces which attack and the characteristics of water waves. Wave formation There are three different momentum responsible for the formation of waves. The moon, earthquakes and wind in variable intensities. Energy of waves vs. period and responsible momentum 2 Three forces to attack the waves There are three forces that are responsible for wave formation. Two of them (gravitational force and Coriolis force) are supporting the formation, one of them (surface tension) reduces the high of waves. At first the gravitational force: This one out of four forces in physics is dominant for wave generation
5. Financial Institutions and Services Objectives and Outcomes To give overview of main players. 5.1. Introduction It is common to distinguish between monetary financial institutions (MFIs) and other financial intermediaries. The distinction is based on the functions of institutions institutions in the first group (MFIs) play important role in the process of money creation in modern economies. European Central Bank (ECB) describes Monetary financial institutions as including national central banks (and also ECB in the euro area), credit institutions and non-credit institutions which receive deposits from general public (individuals and non-MFI firms) and grant credit and/or invest in securities. Major non-credit MFIs in Europe are money market funds. Credit institutions are defined in the directive 1 relating to the taking up and
Objectives Marketing: 1. Maintain positive, steady, growth each month. 2. Generate at least 40,000 in sales per month. 3. Experience an increase in new customers who are turned into long-term customers. 3 Financial: 1. Double the growth for next year (at least 80, 000 per month next year). 2. Continue to decrease the variable costs associated with food production. Our objectives are rather specific, achievable, realistic and timed. We should work towards making our objectives more measurable (complete the SMART). Break-even Analysis Calculating all our cost, sales and marketing expenses, our costs will not trump our sales. We have a strong financial plan, which has been put together by many advisors and it considers all threats and possible set-backs. We have planned the first two months to be used to get the
Margit Tepner k0848752 Sustainability aspects of biofuels 1. Introduction The literature review will discuss the sustainability aspects of biofuels. Food production will be the main concern as it is the most debated issue, but other aspects, such as land use change and water consumption will be also considered as they are essential aspects in the biofuels sustainability criteria. The review will discuss the viability of biofuels based on the current technologies. Second-generation biofuels are not yet commercially viable and therefore will not be discussed; although they could significantly improve the sustainability of biofuels
...........................................10 2.2 CAUSES OF THE PROBLEMS .............................................................................................................12 2.2.1 Structural: contractual systems ...............................................................................................12 2.2.2 Management in construction ...................................................................................................15 2.2.21 Conventional production management theory in construction..........................................16 2.2.22 Conventional project management theory in construction ................................................17 2.2.23 Learning and improvement ...............................................................................................19 2.2.3 Lack of technological exploitation ..........................................................................................19 2
The need for a calibration step implies other things. Will the part of the system with the temperature sensor be part of the board that contains the compensation? If not, how do you keep the two parts together once calibra- tion is performed? And what if the field engineer has to change the sensor 2 Analog Interfacing to Embedded Microprocessors in the field? Will he be able to do the calibration? Will it really be cheaper, in production, to add a calibration step to the assembly procedure than to purchase a more accurate sensor? In many cases where an adjustment is needed, the resulting calibration parameters can be calculated in software and stored. For example, you might bring the system (or just the sensor) to a known temperature and measure the output. You know that an ideal sensor should produce an output voltage X for temperature T, but the real sensor produces an output voltage Y for temperature T
.................................................................................................31 9.2 How wind machines work..........................................................................................32 9.3 Types of wind machines............................................................................................. 32 9.4 Wind power plants......................................................................................................33 9.5 Wind production......................................................................................................... 34 9.6 Wind and the environment..........................................................................................34 TIDAL ENERGY............................................................................................................... 35 10.1 Wave Energy............................................................................................................ 36 10
molecules, and using fluid catalytic cracking to convert the longer, more complex molecules in the oil to the shorter, simpler ones in the fuels. Due to its high energy density, easy transportability and relative abundance, oil has become the world's most important source of energy since the mid-1950s. Petroleum is also the raw material for many chemical products, including pharmaceuticals, solvents, fertilizers, pesticides, and plastics; the 16 per cent not used for energy production is converted into these other materials. Petroleum is found in porous rock formations in the upper strata of some areas of the Earth's crust. There is also petroleum in oil sands (tar sands). Known oil reserves are typically estimated at around 190 km3 (1.2 trillion (short scale) barrels) without oil sands, or 595 km3 (3.74 trillion barrels) with oil sands. Consumption is currently around 84 million barrels (13.4×106 m3) per day, or 4.9 km3 per year
INVESTBULGARIA AGENCY WHO ARE WE InvestBulgaria Agency (IBA) is a Government institution providing information, contacts and project management support to potential investors. IBA services: Macroeconomic data on Bulgaria Data on operational costs Regional information Personalized administrative servicing Legal advice Liaison with central and local governments Liaison with branch chambers and NGOs www.investbg.government.bg GENERAL INFORMATION Official name: Republic of Bulgaria Area: 110 994 sq.m. Population: 7.4 million Capital: Sofia Time zone: EET (UTC+2)
As expected, 29 the optimal revenue is lower than before. 30 Objective to maximize 31 Revenue $319 618 A B C D E F G H I J K L M N O P 1 Repco production process model 2 We claimed in the drug production model, that we could either 3 Inputs used (along side) to make one unit of product (along top) constrain the units produced to be greater than or equal to 4 Drug A Drug B Drug C
8. Nappus, scarsity (Põhiprobleem) = vajadused saadavad 9. ( )- ressursid , 1 Majandusõpetus Mõistete seletus. , I osa 9.Alternatiiv- e.loobumiskulud, opportunity cost s -parima () alternatiivse võimaluse maksumus, millest loobutakse valiku tegemisel 10. 10.Majanduslik mõtlemine, thinking like economist 11. 11. Nappus sunnib inimesi valima. Scarsity
business to meet these needs. And now about importance of marketing to the society. In today’s society marketing plays a major role. For the next examples: It is connecting link between the consumer and the producer. Marketing process brings new items to retail shops, from where the consumers can buy them. It helps in increasing the living standard of people. Because of large scale production, prices of good come down. Thus, reduction on price will result in a higher standard of living. It helps to increase the nations income. Efficient system of marketing reduces the cost to the minimum, this in turn lowers the prices and the costumer’s purchasing power increases. This will increase the national income. In increase employment opportunities. For continuous production, continuous marketing is needed
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