Notes, summaries, assignments, exams, and problems for Economy

UNIT 4: Employee Relations

1. The Role of Employee Relations

A strong communication policy in employee relations helps to:

• Improve organizational culture and understanding of the organization's goals.
• Keep employees informed about goals, activities, and challenges.
• Encourage employee input, information sharing, and feedback.
• Communicate important events and decisions quickly.
• Establish a positive and productive work culture.

2. Organizational Change

Effective employee communication is crucial during organizational change. PR professionals can:

• Lead employees through dialogue and address concerns.
• Help management simplify complex initiatives for better employee understanding and support.

3. Employee Relations Tools

• House Magazines: Periodicals fostering

Company Dimension and Financing

This analysis examines the economic and financial structure of Tangoe, a company that has experienced continuous growth over the past decade, despite a decrease in non-current assets in 2014. The increase in total assets has been primarily financed by current liabilities.

Current Assets

Current assets have increased by almost 20%, mainly driven by growth in both Cash and Accounts/Trade Receivables.

• Cash: Increased by 8,000 thousand dollars, representing 43% of total current assets and 23% of total assets in 2014.
• Accounts Receivable: Experienced significant growth/decrease (receivables).

Capital and Revenue

The company's capital has fluctuated in recent years. In terms of sales and revenues, Tangoe has seen a clear... Continue reading "Financial Analysis of Tangoe" »

Mastering Professional Business Enquiries

Crafting Effective Business Enquiries: Part 2

This section provides various ways to phrase common elements in a business enquiry, focusing on clarity and professionalism.

1. Requesting Information on Touring Bikes

• Enquiry about touring bikes
• Touring bikes information request

2. Referencing Your Advertisement

• We read your advertisement about racing bicycles in the December issue of Cyclist.
• We saw your ad about racing bicycles in the latest issue of Cyclist, and we have a great interest.

3. Introducing Your Company

• We are a large retail company.
• We are a large retailer.

4. Requesting Documents

• We would like to receive...
• We kindly request you to send us...

5. Specific Document Requests

• Your updated catalogue and a list

Product Fundamentals in Marketing

Defining a Product

A product is a combination of both tangible and intangible components. As products become more commoditized, companies increasingly deliver value through customer experiences.

• Core Customer Value: The main need fulfilled by the product.
• Actual Product: Includes elements like brand name, quality level, and packaging.
• Augmented Product: Encompasses additional services and benefits offered.

Product Classifications

Products can be categorized in various ways, including physical goods, services, events, and places. They are also broadly classified as consumer products or industrial products.

Consumer Products

These are products bought by final consumers for personal consumption. They are typically categorized... Continue reading "Product, Service, and Branding Essentials for Marketing Success" »

What is the definition of Marketing?

The management process of getting the right product to the right customer at the right price to the right place and time. It’s also essential to the success of any business. It's not only about selling or advertising, but a business philosophy about satisfying consumer needs or demands.

(Identifying Anticipating and Satisfying consumer needs profitably)!!!!!!!

Describe the relationship between marketing and: Finance

Marketing costs money, so the marketing and finance department have to work together in setting appropriate budgets.

Describe the relationship between marketing and: Human Resource Management

Marketing information can enable more effective workforce planning in the HRM department. This can influence... Continue reading "Understanding the Relationship Between Marketing and Business Functions" »

Efficiency Ratios

Inventory Turnover

Determines if sales are sufficient to turn over or utilize inventory effectively. It indicates whether too much or insufficient inventory is being purchased.

Assets Turnover

A higher Assets Turnover Ratio (ATR) suggests that the company's management is utilizing its assets efficiently to generate sales.

Receivables Turnover

A higher receivables turnover indicates that a company is more efficient than its competitors in collecting its accounts receivables.

Profitability Ratios

Return on Sales (RoS)

"For every dollar sold, the company earns x profit." Measures operational efficiency.

Return on Equity (RoE)

"For every dollar invested by shareholders, the company earns x profit." Measures profitability relative to shareholders'... Continue reading "Key Financial Ratios for Business Performance Analysis" »

Essential Concepts in Banking and Monetary Economics

Understanding Bank Reserves and Requirements

Bank reserves are fundamental to the fractional reserve banking system. They serve multiple definitions and functions:

• Reserves Definition 1: Reserves are equal to vault cash plus bank deposits at the Federal Reserve.
• Reserves Definition 2: Reserves are equal to required reserves plus excess reserves.
• Classification: Reserves are classified as an asset to banks.

Required Reserves and Calculations

Required reserves are the amount of reserves a bank must hold against its deposits as mandated by the Federal Reserve.

Example 1: Calculating Excess Reserves

A bank has $10 million in checkable deposits and $2.5 million in reserves. If the required-reserve ratio

Service Pricing: Strategies and Value

Pricing Strategies: How Service Pricing Differs from Product Pricing

Service pricing presents unique challenges due to the variability of prices, the intangibility of services, and the difficulty in recognizing backstage costs. Unlike products, services often have a wide range of prices and quality within the same class. Service organizations use different terms to describe prices (e.g., offers, charges), which can confuse customers. Price can also be an indicator of quality, with higher prices sometimes evoking a perception of higher quality. However, pricing too low may raise questions about quality. Many services, such as restaurants, have higher total costs, including costs beyond paying suppliers.

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