Key Economic Concepts
The US Dollar
The dollar, also referred to as the U.S. dollar, is considered the world’s “king” currency for a number of reasons:
- The U.S. economy is the largest in the world, and the dollar is the currency of the world’s largest and most stable economy.
- The U.S. dollar is considered to be a safe-haven currency, meaning that investors and traders tend to flock to it during times of economic uncertainty.
- The U.S. dollar is the most widely used currency in international trade. Many countries use the dollar
Understanding Scarcity and Economic Concepts
What is the main problem addressed with scarcity?
a. Trying to satisfy the basic needs of everyone to eliminate poverty.
b. Ensuring that an adequate standard of living is achieved.
c. Making sure that critical resources such as oil and forests are not depleted.
d. Determining how to address unlimited wants with limited resources
2. You see a large group of stranded passengers standing next to a disabled bus, and you have only
three seats in your car. You have to decide which three passengers to rescue
Market Research: A Comprehensive Guide
Market Research Process
Need for Market Research
Define the problem, establish research questions, determine research design, identify information types and sources, determine the methods of accessing data, design data collection forms, determine sample plan and size, collect data, analyze data, prepare and present the final research report.
What is Market Research?
Market research, which includes:
- Social research
- Opinion research
is the systematic gathering and interpretation of information about individuals
Read MoreClosing and Servicing the Sale: Strategies for Success
Step 5 Presentation Plan: Close
Buyer’s Remorse
Buying often causes emotional stress, which is sometimes referred to as “buyer’s remorse.” Typical buying anxieties explaining why some customers are reluctant to commit to your proposal include:
- Loss of options
- Fear of making a mistake
- Social or peer pressure
Guidelines for Closing the Sale
- Focus on dominant buying motives.
- Achieve incremental commitments throughout the sales process, especially situations involving long selling cycles.
- Negotiate the
The Benefits of IT Service Management: Availability, Service Levels, and Financial Management
Question 1. – Availability Management
1A (8p)
MEMO
From: External Consultant
To: Administration Department Heads
Subject: The Case for the Introduction of G. CTI Availability
Date: 01/01/2011
Heads of Administration:
Even with the announced cuts (10% more for 10% less), the availability of systems for end users will not be affected because, when implementing the process of Availability Management properly and effectively:
- The attitude of the IT organization shifts from being focused on correcting errors
Planning and Control in Business Administration
PLANNING
Definition:
- According to Charlet: A set plan of measures taken with a view to the execution of a project.
- As Gergen: The careful selection of the nature and purpose of any appropriate means to achieve them.
- According to Castro: The administrative process of choosing and making the best methods for satisfying the specific policies and achievements of a target.
- According to Terry: Defines how to choose and relate facts to provide and formulate proposals that involve activities required to achieve