Discuss the barriers in communication in a company or organization. What should be done to overcome these? (500 words)
Communication barriers within a company or organization represents as one of the leading issues confronting the functionality, as well as the progress of an organization.
- Start the topic off by explaining barriers in communicating and then tell why it is vital to remove them in the company.
- Discuss some major barriers like:- Discuss some major barriers like:
- The organizational authority issues - no open communication channels, bureaucracy.
- Cultural and linguistic identity - language diversity, diversified styles of communication.
- Poor listening skills
- Information overload
- The physical barrier - the poor office layout, the distant place can all lead to the reduction of face-to-face contact.
- As a part of every difficulty, introduce 1-2 ways to get around it. Some ideas:
- Ditch old hierarchies, install direct communication.
- Contacting local cultural community centers, employing translators when needed if possible.
- The development of active listening skills for staff.
- Use the thoughtful application of communication technology to avoid the phenomenon of information overdose.
- Improve design of office, utilize video conferencing.
- You should convey that to conquer the barriers of communication, it is essential to establish communication.
Discuss intellectual property rights.
- The topic – intellectual property rights, protects intellectual creation which are inventions, creative works and images such as names, symbols or signs used in trade.
- Types:
1) Patents—these are instrumental towards protecting the new and innovative goods and technologies.
2) Trademarks - such distinctive marks as names, logos, slogans, etc., are used for identification of a business or a unique product.
3) Copyright - legal entity that protects texts, pictures, and musical works.
4) Trade secrets - confidential information safety of business should be protected.
- Ownership - Emphasize the fact that the inventor/creator usually becomes the owner of the intellectual property and its rights after the certification/registration in the office of the state register.
- Rights Granted - Observe that IPR involves right holder’s right to exclude others in making use of, selling, or making his/her creation and can authorize or in-license others to use the IPR.
- Infringement - Express what constitutes unauthorized use of intellectual property rights protected items.
- Conclusion – Enumerate the main categories of the intellectual property rights and give the core idea of the intellectual private ownership which allows the original authors to create and promote their novel goods and services by granting limited monopoly.
What are the duties and rights of a seller and a buyer according to the Sales of Goods Act? (500 words)
The Rights and Obligation of Seller and Buyer in Business Transactions of the Sales of Goods Act is set out under the Sales of Goods Act according to the provisions below.
- General knowledge - That the Sales of Goods Act sets the rules, responsibilities, and obligations for both buyers and sellers as far as selling goods is concerned.
Seller's Duties:
- A right to sell These goods
- It is now their responsibility to ensure these products reach their destination.
- Covenant of quiet possession - goods are typical to be clean of burdens.
- Breaching of warranty of free from encumbrances
- Obligation to make shipment correspond with the customs.
Seller's Rights:
- Value of salary positive right.
- On independent voters – if paid, the right to sue for price.
- A right of lien is the form of security one can avail of by keeping possession of goods until payment is received.
- The right to the temporary restrain of shipments in transit would be afforded to a buyer when they meet the fate of bankruptcy.
Buyer's Duties:
- Obligation to actually receive the delivery and exercise the ownership rights.
- The responsibility to pay what is owed is clear.
Buyer's Rights:
- The right of the individual to have quiet possession without other people entering into private property without his/her permission.
- Correspondence to the right to products that properly represent their description.
- It is the right to the goods acquired by implication.
- Supremacy to litigate for damages on contract breach is allowed.
- The conclusions - highlight that the Act specifically defines the obligations and rights of both sellers and buyers to make sure the deals are made on equitable terms.
What are the types of international businesses? Cite examples (500 words)
- Be the first to mention about international business that is business activities over the globe or beyond the nation's border.
- Describe major types: the same status holds true for such entities like exporters, importers, multinational corporations, joint ventures, and foreign subsidiaries.
- For each, enumerate the features taken the businesses to be very complex and the activities performed under them.
- Provide several real-life instances of companies who have undergone successful, as well as unsuccessful, mergers and acquisitions.
- Contemplate world-wide connections created by globalization in respect to the development of international business and partnership.
- Conclude by emphasizing varied international business models and how they might function as bridges among countries or on the other hand, answer to the global consumers' needs.
What is the role of fiscal policy in dealing with recession as well as in having economic stability at employment level? (500 words)
- The fiscal policy comes into play - this is a policy that entails government spending in a manner that it affects the overall economic conditions in the country.
- Inform about how the growth of fiscal policy can lead to the reduction of recessionary deficits - government expenditure/reduced taxes increases aggregate demand hence output and employment are boosted.
- Discuss effects: a bigger public spending makes it possible but stimulates economy through the evolving cycle of production.
- Inflation could be curbed by counter active fiscal policy; however, it can augment the scale of the recession - i.e. reduced spending/higher taxes.
- Elucidate on fiscal policy automatic stabilizers - measures to reduce incomes that hinder during down turns.
- Talk about job market role in creating full employment not causing uncontrolled rate of inflation.
- Finish by emphasizing main roles of fiscal policy in this context within the frame of monetary policy and stress the risks that may be involved in cases of excessive usage.
Discuss two functional budgets. (500 words)
In that section, outline two critical budgets (100 words)
- Sales budget: translate the volume and worth of sell-outs.
- Production budget: determines how many units of output are available and how much inpuinfluence such as the raw material, labor.
ts Address sales budget (200 words)
- According to prognoses of sales and production volume.
- Thinks for sales amounts, unit prices and the mixture of the products.
- Production budget is a critical factor that should be considered at this stage.
- Assist in calendar planning for the work of the sales team.
Consider the production budget (200 words)
- Important step is to produce quantities as well as the costs.
- Considerations are made of sales budgeted as well as goods and services inventory levels.
- Figures out the labor input, cost variables, and estimate overhead.
- Purchases budget and cost budget input for the material.
- Saves time and advances production capacity of the process.
Conclusion (50 words)
- Conclude as to how the two budgets contribute to one another and how they ultimately lead to the planning of these utilities as well as costs.
Marginal costing: “Explain, “Marginal costing is a cost presentation and cost analysis technique.” What are the limitations and merits of marginal costing?(500 words)
Introduction (100 words)
- Marginal costing means the method to detect the level of profit changes due to various factors, including the volume, cost and selling price. Thus marginal costing helps in determining the business decisions.
- Indicate that marginal costing presents the variable and fixed costs on separate sides and multilevel absorption costing doesn’t require complexity.
Expound on the idea (150 words).
- As for marginal costing, fixed costs would be an overhead for the period, while variable costs are the only ones used in inventory valuation and the calculation of the cost of goods sold.
- It is a tool for a decision maker while he may decide to add a new product, make a thing by himself, or what is most common – define super profit on a new market.
Merits (100 words)
- Under absorption costing, there is a relatively easy way to account.
- Useful as they make decisions to achieve maximum profits.
- Do not get jumbles up with valuation of inventory and its effect on profits.
Limitations (100 words)
- Since these costs are allocated to items, rather than being associated to particular products, unit costs are understated.
- Inventory valuation is not according to accounting standards for the inventory is not in as it appears in the books of accounts.
- The earnings figures which are distorted, as compared to the absorption costing, are not considered valid for appropriate external reporting.
Conclusion (50 words)
- Inventory valuation and external reporting are some areas in which marginal costing cannot be used because of its weak spot. Apart from that, marginal costing is helpful in making decisions.
What is the concept of national income?(500 words)
The term national income refers to the measure of economic activity in a country and considers economic activities to include production, expenditure, income, and investment.
- Define national income: Gross national income encompasses the total monetary worth of all final goods and services produced in a country within a specified period of time, commonly one year. It is a yardstick for the measure of a country's economic output and productive ability.
- Explain measures like GDP, GNP, NI, and PI: On the part of the national income and economic production measures, there are a few indicators. The same as measuring the wealth of the economy, GDP (Gross Domestic Product) presents the value of economic production within a country's borders. GNP represents all production within a country, regardless of whether or not the company is based in that country or the place of residence of the person whom is doing the production is in that country. NI (National Income) closely estimates how much a country makes, less depreciation. PI (Personal Income) is the income which are received by the same households.
- Discuss components of national income: National income is part of the employee's wages, profits, rents, corporate taxes, and owner incomes, which all play a part in the production of output.
- Explain uses and limitations: The Keynes philosophy is thus widely used for the following purposes - measuring the economic growth, comparing living standards across countries and over time, as well as by government policymakers for the macroeconomic policies. Constraints are the fact that it is hard to assess the economy that goes on underground, the quality of the produced goods, the effects on the environment, changes in the income distribution, and so on.
- Discuss importance for business managers: Emphasized on the country-wide growth of the output, national income trends prove very important for business managers because they show economic growth, development cycles, level of customer purchasing power, and other factors that business managers must take into consideration when making planning and financial decisions.
Define demand elasticity and then explain cross, price and demand elasticity in decisions in management. (500 words)
Define demand elasticity: Demand elasticity refers to the dynamic measurements of the relative degree of change in the quantity demanded of the commodity for positive or negative price change. Presentation of the ratio of relative changes that occur to quantity demanded after the price went through a shift.
- Explain cross elasticity: Instruction that indicates cross elasticity of demand is the extent of which the demand for one product responds to the price change of the considerably related product. A positive cross elasticity between the two products means that the latter pair of products are substitutes to each other. Cross elasticity is negative in this case, which means they are compatible items. Mangers can use cross elasticity to forecast the reaction of the demand for their own products at the chance of price changing for related ones.
- Explain price elasticity: Price elasticity of demand represents the personified fraction of the total amount demanded in relation to a given price. Inelastic demand does not react the price changes very much, while elastic does because it is very sensitive to price changes. Managers can use price elasticity to evaluate whether changes of prices will affect the revenues.
- Explain income elasticity: Income elasticity of demand is a parameter which evaluates how demand varies for different change levels in consumers' income. Non-inferior goods display positive income elasticity, but inferior goods do the oppositional. Demand growth forecasts are based on expected consumer income changes. Managers are able to forecast these.
- Discuss importance for managerial decisions: The comprehension of these elasticity is an essential factor in manager's choice of the optimal pricing strategies, forecasts as well as the total revenue and profits. Managers need to not only to consider substitutes, but also, consumer incomes, market saturation, and other things depending on the elasticity.
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What is the concept of corporate social responsibility given today's example? (500 words)
CSR means that a company has to take care of all its stakeholders as well as its environment.
- Highlight the significance of CSR in the current environment - changing social norms and regards to social responsibility, controlling the company reputation/brand, attracting and retaining staff and risk mitigation.
- Give examples of CSR in practice today: Environmental actions (green measures, low carbon impact); ethical business chains (no child labor, staff decent treatment); corporate charity (donations, volunteer jobs, NGO partners); diversity, equity and inclusion programs; responsible marketing/advertising.
For example: Companies that emulate Patagonia's values, like Patagonia, heavily invest in that they employ ecological CSR practices such as environmentally responsible manufacturing that ensured the products at any stage of their production were ethically made. This ensures that the risks of negative publicity are controlled and they also have a potential for attracting customers and talent who are fully aligned with the core values of Patagonia.
