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

Simple Random Sample

A sample designed in such a way as to ensure that (1) every member of a population has an equal chance of being included in the sample, and (2) every sample of size n has the same chance of occurring.

Selecting Elements

Subjects are selected at fixed sampling intervals by selecting every kth element thereafter. The interval between selections is determined by the ratio of the population size to the sample size (N/n). For example, if the population size is N=1,000 and a sample size of n=100 is desired, then the sampling interval is 1,000/100 = 10, so every 10th person is selected into the sample.

Macroindicators

Goods and services – GDP, Labor – Unemployment, Capital – Inflation.

Mercantilism

Based on the principle that the world's wealth was static, nations attempted to accumulate the largest possible share of that wealth by maximizing their exports and by limiting their imports via tariffs.

WTO

International institution that oversees global trade rules among nations.

HeckscherOhlin Model

Evaluates the equilibrium of trade between two countries with varying specialties and natural resources.

Leontief Paradox

Capital-abundant countries export labor-intensive goods and labor-abundant countries export capital-intensive goods.

GDP

Monetary value of all finished goods and services made within a country during a specific period.

Inflation

Rate... Continue reading "Understanding Global Economics: Trade, Currency, and Development" »

Travel Agencies

Definition and Functions

A travel agency is a business that sells travel services like tours, cruises, transportation, accommodation, meals, and sightseeing to the public. It utilizes management practices such as division of labor and hierarchical authority to achieve its objectives, including customer satisfaction and profit generation. Acting as a representative of airlines, hotels, tour companies, and cruise lines, travel agencies cater to both leisure and business travelers.

Expert Advice and Packages

Travel agents provide valuable advice to tourists regarding climate, local culture, customs, and other essential information. They also play a key role in selling package holidays, drawing inspiration from pioneers like Thomas... Continue reading "The Role of Travel Agencies and Tour Operators in the Tourism Industry" »

Elastic Fibers

Elastic fibers maintain the position of alveoli and bronchioles. When fibers recoil during exhalation, they reduce the size of alveoli and push air out.

Pneumocyte Type I

Pneumocyte type I cells are squamous epithelial cells that are unusually thin, providing an ideal site for gas diffusion.

Pneumocyte Type II

Pneumocyte type II cells are scattered among the squamous cells and produce surfactant.

Breathing

Deep breathing, also known as diaphragmatic breathing, involves the contraction of the diaphragm to change the volume of the lungs, allowing air to be exhaled passively. Shallow breathing, or costal breathing, occurs when the rib cage alters its shape, changing the thoracic volume.

Dalton's Law

Dalton's Law states that the partial pressure... Continue reading "Elastic Fibers and Gas Exchange in the Respiratory System" »

Marinera Festival vs. Carnaval do Brasil: A Comparison

Introduction

Good afternoon, teacher and classmates. Today, I'm going to highlight the differences and similarities between the Marinera Festival and Carnaval do Brasil.

Marinera Festival

Overview

The Marinera Festival takes place annually in Trujillo, Peru, during the summer. The main venue is Club Libertad, and the festival runs for ten days, from January 20th to January 30th. This event is affordable for attendees.

Highlights

• People wear traditional Marinera costumes for the dance competitions, which are a popular highlight of the festival.
• Parades featuring the contestants are a major attraction.
• Over 36,000 people attend the festival, celebrating the competitors' achievements.
• The Marinera Festival

Evaluate and Select Suppliers

The most important duty of purchasing is the right to evaluate and select suppliers. This is what purchasing personnel are trained to do.

The selection decision in sourcing teams requires that members reach a consensus in selecting suppliers.

Review Specifications

The authority to review material specifications is also within purchasing’s span of control.

Purchasing should also lead or coordinate negotiations with suppliers. This means that purchasing retains the right to control the overall process, act as an agent to commit an organization to a legal agreement, and negotiate a purchase price.

E-Procurement and the Procure-to-Pay Process

We examine in detail the purchasing process, which includes all the steps that... Continue reading "Procurement: Supplier Selection and Purchasing Process" »

Realistic Job Preview A realistic job preview (RJP) conveys both positive and negative job information to the applicant in an unbiased manner.

Interviewer Bias Often, a problem arising in interviews is interviewer bias, where interviewers make incorrect assumptions about interviewees, influencing selection decisions.

Reference checks validate information from applicant contacts, providing additional insight and verifying accuracy.

Negligent hiring is an employer's liability for failing to reasonably investigate an applicant's background, assigning a potentially dangerous person to a harmful position.

Selection Decision

Medical Examination: Typically, a job offer is contingent on the applicant passing this examination, determining their physical... Continue reading "Effective Recruitment and Selection Practices" »

Job Analysis

Job analysis is the systematic process of determining the skills, duties, and knowledge required for performing jobs in an organization.

A job consists of a group of tasks that must be performed for an organization to achieve its goals. A position is the collection of tasks and responsibilities performed by one person;

Job analysis is performed on three occasions: (1) when the organization is founded and a job analysis program is initiated for the first time; (2) when new jobs are created; and (3) when jobs are changed significantly as a result of new technologies, methods, procedures, or systems.

The Job Description

The job description is a document that provides information regarding the essential tasks, duties, and responsibilities... Continue reading "Understanding Job Analysis and Job Descriptions" »

Human Resource Management in Small Businesses

The Small Business Administration (SBA) defines a small business as one that is independently owned and operated.

Country Culture in Global Business

A country's culture is the set of values, symbols, beliefs, languages, and norms that guide human behavior within that country.

The Strategic Planning Process

Corporate Mission

A company's mission is its continuing purpose or reason for being. The corporate mission is the sum total of the organization’s ongoing purpose.

Objective Setting

Objectives are the desired end results of any activity. Objectives should have four basic characteristics:

1. They should be expressed in writing.
2. They should be measurable.
3. They should be specific as to time.
4. They should be challenging

Human Resource Management (HRM)

Core Functions of HRM

Staffing

The staffing process ensures an organization has the right number of employees with the appropriate skills in the right jobs at the right time. It involves:

• Job analysis: Determining the skills, duties, and knowledge required for jobs.
• Human resource planning
• Recruitment: Attracting qualified candidates.
• Selection: Choosing the best candidate for the position.

Performance Management

Performance management is a goal-oriented process that maximizes employee, team, and organizational productivity.

Human Resource Development

This function encompasses:

• Training and development
• Career planning and development
• Organization development
• Performance management and appraisal

Compensation

Compensation provides... Continue reading "Human Resource Management: Essential Functions and Practices" »