Business economics

The following example should explain this more clearly: Here is an extract of writing which uses ‘l’, ‘We’ and ‘You’: I think that this report has major flaws as it only looked at hospitals in one area of the country. You can see that his is a problem as the report was supposed to consider the cleanliness of hospitals Here is an extract that implies the same opinions but does not use ‘We’ or ‘You’: The report by smith et al cannot be used to draw conclusions about the cleanliness of hospitals throughout the country as it only focuses on investigating hospitals in one region. Content – NOTE these headings are for guidance only, students can change the headings to suit their own style and content. 1.

Introduction Write a brief paragraph explaining the purpose of the report. 2. Company Overview Briefly outline the profile of your chosen company and industry overview/features. 3. Analysis Tools Select appropriate tools of analysis to effectively analyses the business environment of your firm. This may include LAPPETS, SOOT and/or Porters Five Forces. Ensure you include examples and supporting data from your firm throughout and consider the relevance/importance of any points you make. Make sure you reference any sources fully and use the Harvard Referencing system. 4. Statistical Analysis Using relevant statistical techniques perform an analysis of your firms’ business environment.

Represent the data in an appropriate and clear style e. G. Ii charts, bar charts etc. 5. Recommendations Based on your analysis of the business environment, how can the firm capitalist on future opportunities to enhance their success? What are the key areas for focus over the next six to twelve months? It may be appropriate to highlight a maximum of three recommendations. 6. Conclusion Write a final paragraph summarizing the key points of the report, limitations of the analysis and possible future extensions to the report focus for continued development of the business. Referencing Source: Pears, R and Shields, G (2010). Palaver Study Skills. Cite them Right. The Essential Referencing Guide. The deed. Hampshire: Palaver Macmillan. P. 1-3 Harvard Reference Generator. Http://www. Millstone. Com/bibliography-creator/reference- email. HTML. Harvard Reference Generator. 14th August 2012. Why reference and include a Bibliography? A Bibliography is a list of the books (or other sources of information) that you consulted when writing an essay, report, thesis or dissertation. When doing research, we very rarely come up with our own theories. These take time to develop, and involve putting them out for debate. By researching the theories of others, we include o have to be aware that you are using someone else’s work for your own benefit.

You will get the marks, but the author of the ideas may have put in decades of research to come up with the concepts. Therefore, you need to ensure that you reference your sources – essentially giving credit to the person whom you are citing. Books have a standard layout (front cover, copyright material, list of chapters, the chapters, index, back cover). This is so that you can walk into any library in the World, and very quickly be able to access what you were looking for. You could open a book, urn to the index (arranged alphabetically) and then find the page where the information is included. When academics are citing sources, it is important that the same principle applies.

Someone should very quickly be able to relocate the work you are referring to, either to check it’s authority or legitimacy, or for more information. Harvard University developed their own formula for how these should be arranged. This usually involves the year of publication, the surname and initials of the author, the title of the book (and chapter, if needed), and the page’s. Some of this text appears in brackets, some in italics. The result is, someone can quickly locate exactly what they are looking for with Just a glance. What is plagiarism? Plagiarism is a specific form of cheating and is generally defined as presenting someone else’s work or ideas as your own.

These may be in printed or electronic format and, in all cases, giving credit to the original author by citing and referencing your sources is the only way to use other people’s work without plagiarism. All the following are considered forms of plagiarism: Using another person’s work or ideas (for example, copying and pasting text or images from the internet) without crediting citing) the original source. Passing off someone else’s work as your own. Failing to put a quotation in quotation marks; quoting, summarizing or paraphrasing material in your work without citing the original source. Changing words or phrases but copying the sentence structure of a source and not crediting the original author. Citing sources you did not use.

Business economics

Large supermarkets such as Tests and Sad have realizes the market for cheap zinc batteries and have so introduced their own range of these. Both supermarkets offer two brands at two different prices. You can buy the standard Adds and Tests brand which have a longer life and are a little cheaper than brands such as Durable and Phillips. They also have Sad smart price and Tests everyday brand which are heaper than the pound shop batteries but have a smaller battery life. These alternatives that are available means that the zinc batteries are much more cost effective and have a bigger market share than rechargeable and alkaline batteries.

The final factor is the fact that the population in the UK has increased this has meant that the need for necessities such as batteries has increased. The increase in the sales can be a result that people aren’t buying more batteries but the fact that there are more people buying the same number of batteries. If the sales of a product increase it is not necessary that the existing customers are buying more but instead that there are more customers buying the same amount. These factors have all contributed slightly towards the increase in sales of zinc batteries.

Individually each factor may not make a big difference to the volume of sales but as the factors increase you then get an increase that is larger and more measurable. D) The market structure that has been used in this market for Minute batteries is structure in which a small number of companies compete. Few large producers of either differentiated products or homogeneous dominate in the market. It determines by whether the firm produce differentiated or standardized products. The differentiated products are often connected to significant non price competition and strong promotion.

The quantity sold depends on the other firm’s price and quantity sold, and the decisions are influenced of the decisions of other firms. The industry is dominated by few sellers and each one is aware of the other’s actions. The responses, taken into account should be consistent with the other market partners. There are only few firms, so the actions of one firm can affect the others. Oligopolies re price makers rather than price takers. It should take into consideration the potential reaction of competitors to its own output, product characteristic, pricing and advertising decision.

The output level is set in order to maximize firm’s profit, but for example, deciding to make lower prices, the firm must make an admission of possible response of the other firms. Oligopolies competition is divided by perfect and imperfect. Perfect oligopoly appears when the firm produces homogeneous or identical products. Imperfect oligopoly occurs when the products that oligopolies produce are differentiated. Collusive and competitive oligopoly In the competitive oligopoly the degree of imperfect competition is influenced by the firm’s behavior.

When forming a market strategy, the firms must to take account of the reactions of one another (cooperative behavior), when they decide the market strategy without co-operation or collusion (uncooperative). By co-operation and collusion, the uncertainty can be reduced. By acting collectively, the firms can achieve a better outcome for all of them (maximize their profits). Barriers of entry There are very high barriers of entry. The most important ones are access to expensive and complex technology, economies of scale, actions taken from other firms in order to destroy or discourage incipient firms, and patent.

Other barrier for new firms to enter the market can be the preference of the government to other, already existing firms. New firms may have small market share and they would not be able to achieve economies of sales. They would be high-cost producers and they would not survive. References: Powell. R, (1993), Economics for professional and business studies, second edition McConnell. C. (1999), Economics principles, problems, and policies, fourteenth edition, McGraw-Hill