Economics Essays

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The strengths and weaknesses of the traditional budgeting

As Gowthorpe (2003: P457) argued, that “A budget is a plan, expressed in financial and/or more general quantitative terms, which extends forward for a period into the future.” Budgeting actually refers to the process that, after the strategic plan of the business has been made, companies made a short term …

Strategic Directions-formal and informal

Discuss the ways in which managers arrive at new strategic directions-formal and informal. Which is the best? The first phase of a strategic formulation process is the planning phase. A statement of missions and objectives is developed which charts the direction of the company and provides the groundwork for subsequent …

The rise of Indian software industry

David Ricardo has developed theory of Comparative Advantage. Which was later developed by Heckscher-Olin. They all argued that all countries have different factor endowments of labour, land and capital inputs. Therefore, Countries should be able to specialise in and export products that they can efficiently produce. Comparative advantage says that …

Qantas Dispute

On October 22nd, 2001, the Industrial dispute between QANTAS and its employees was initiated with the offering of a new Enterprise Bargaining Agreement. This proposed an 18-month wage freeze for employees plus a sliding scale profit share scheme. Ten out of twelve unions under QANTAS accepted the terms of the …

Privacy in the Employee Handbook

The Employee handbook plays an important role in communicating the organization’s policies as well as rules and regulations. It gives the employee a source to understand some of the responsibilities, benefits, wages, appraisals and restrictions of both the employee and the employer. One of the main areas of the handbook …

Where Nineteenth-Century Entrepreneurs Robber Barons?

Were Nineteenth-Century Entrepreneurs Robber Barons? John Tipple “Big Business and a New Economy” vs. Alfred D. Chandler “The Beginnings of Big Business in American Industry” Many people wonder if the big businessmen of the late nineteenth century, also known as the “Gilded Age,” were “Robber Barons.” John Tipple, a professor …

What was life like in Australia at the beginning of the 20th century?

As the establishments of our fledgling federation initiated at the launch of the 20th century, the inhabitants in Australia lived and worked in a society that the government interfered little in, known as the “laissez-faire” policy. This also meant that individuals were left to look after themselves, as they had …

Internal Rate of Return (IRR) and Net Present Value (NPV)

Internal Rate of Return (IRR) and Net Present Value (NPV) are both powerful tools used in business to determine whether or not to invest in a particular project; both methods have its pros and cons. If given a choice I would choose NPV, because of the potential to anticipate profitability. …

Individual Perception

Attitudes can have a significant effect on the behavior of a person at work. In the world of work we are concerned with attitudes toward supervision, pay, benefits, promotion or anything that might trigger positive or negative reactions. Employee satisfaction and attitudes represent one of the key areas of measuring …

The Impact of Globalisation on Singapore

Over the past half-century, Globalisation has been imminent throughout the world. Globalisation can be defined as the movement of mainly economic activity around the world, within a borderless marketplace. In other words, the economies of countries are becoming increasingly integrated with one-another, and influences on one country will cause dramatic …