Supply and Demand Simulation - 983 Words

ECO365 Supply and Demand Simulation Student Name ECO/365 – Principles of Microeconomics Instructor Name Date Introduction Supply and Demand is a phrase that every one hears in one way or another, Supply and demand phrase according to Colander, (2010) is the most used phrase by economist and the reason is because the phrase provides a good â€Å"off-the-cuff† answer for many question that have to do with economy. Example why are interest rates to Low? Because supply and demand. Why is Gasoline so high? supply and demand. This paper will speak about a simulation found on University of Phoenix student website, simulation named â€Å"Applying Supply and Demand Concepts† This paper will speak about macroeconomics and microeconomics†¦show more content†¦Understanding the concepts of macroeconomics and microeconomics help understand factor that affects shifts in supply and demand because now one can see with clarity what are the categories and what those categories are, the ones influence supply and demand and how this same factor may bring equilibrium. Price Elasticity of Demand According to Colander (2010), the price elasticity of demand is the percentage change in quantity demanded divided by the percentage change in price. As for this simulation, if the demand experiences a negative percentage change (if it decreases) the price of renting an apartment will also decrease. So, rental rate will decreases as the demand decreases. On the other hand, when the supply decreases or increases, the rental rate will remain constant. If the demand increases, the rental rate will be increased, since more people will want apartments (the company is able to increase the prices – the law of demand). According to Colander (2010) Price Elasticity of Demand can be defined as â€Å"the percentage change in quantity demanded divided by the percentage change in price: Conclusion This paper has referred to various terms from the macroeconomic and microeconomic environment. It has analyzed trends and also shifts of the supply and demand curve for a company that rents two-bedroom apartments in Atlantis. The paper has also referred to situation from the real world where microeconomic concepts can be applied. Last, it hasShow MoreRelatedSupply and Demand Simulation1030 Words   |  5 PagesSupply and Demand Simulation ECO/365 Supply and Demand Simulation In the supply and demand simulation a neighborhood called Atlantis is given for the setting. Atlantis is a small city with open spaces, low population, and a low crime rate. There are plenty of sidewalks and street systems for easy access to the highway. The housing in Atlantis is detached homes and apartments. The supply and demand simulation consists of microeconomics and macroeconomics. The simulation presents shifts in theRead MoreSupply and Demand Simulation1203 Words   |  5 PagesSupply and Demand Simulation Summary University of Phoenix ECO360, Economics for Business I The Supply/Demand simulation involves acting as property manager for GoodLife Management in the fictional town of Atlantis. GoodLife Management manages seven apartment complexes in Atlantis. The property manager is expected to adjust the monthly rental rate of two-bed rental apartments and the quantity of apartments supplied based on the market trends. Factors that influence the supply and demandRead MoreSupply and Demand Simulation1060 Words   |  5 PagesSupply and Demand Simulation ï ¿ ½ PAGE * MERGEFORMAT ï ¿ ½1ï ¿ ½ Supply and Demand Simulation University of Phoenix ECO/365: Principles of Microeconomics October 26, 2009 ï ¿ ½ Supply and Demand Simulation IN THE UNIVERSITY OF PHOENIX SIMULATION (2003), APPLYING SUPPLY AND DEMAND CONCEPTS, A SITUATION IS PRESENTED CONCERNING THE SUPPLY AND DEMAND OF TWO-BEDROOM RENTAL APARTMENTS IN ATLANTIS. THROUGHOUT THE SIMULATION SCENARIOS ARE PRESENTED AND CHOICES MUST BE MADE REGARDING FACTORS THAT AFFECT DEMANDRead MoreSupply and Demand Simulation939 Words   |  4 Pages1. The simulation illustrates a number of different economic concepts. The relationship between supply, demand and price is highlighted. The simulation shows what happens under normal conditions when the price of a good changes. For example, when the price increased the supply of the good increased but the demand fell. As a result, the market was no longer in a state of equilibrium (Riley, 2012). Thus, the concept of supply-demand equilibrium was identified. This is a microeconomic concept, followingRead MoreSupply and Demand Simulation819 Words   |  4 PagesSupply and Demand Simulation A simulation was conducted to understand supply and demand when renting out apartment homes. This paper will briefly explain two microeconomics and two macroeconomics principles, it will include one shift of the supply curve and demand curve in the simulation. For each of the shifts the affect of the equilibrium price, quantity, and decision making will be analyzed. A description of supply and demand from the simulation and how to apply it in the workplace is includedRead MoreAnalyzing Supply of Demand Simulation1042 Words   |  5 PagesAnalyzing Supply of Demand Simulation ECO/365 January 31, 2010 Analyzing Supply of Demand Simulation Supply and demand is a significant element of business procedures thus this paper will evaluate how supply and demand affects a business via a simulation provided by the University of Phoenix. In this paper, I will talk about the reasons for changes that occur in supply and demand. I will talk about how shifts in supply and demand influence the organization’s decision making processRead MoreEssay Supply And Demand Simulation1318 Words   |  6 PagesIntroduction The Supply and Demand simulation involves acting as Property Manager for GoodLife Management, a property management firm that manages apartment complexes in Atlantis. This simulation was an exercise in applying the supply and demand concepts based on current market trends. The property manager is required to adjust the monthly rental rate of two-bedroom rental apartments and number of apartments available. Supply and demand within the simulation were manipulated by the rates chargedRead MoreSupply And Demand Simulation Analysis1189 Words   |  5 PagesSupply and Demand Simulation The economy is a practice that relies on principles and concepts. The different focuses are based on a Macro and Micro perspective that creates the commercial and consumer environment. It is important to understand how these principles and concepts relate to the environment to create strategies that will, in return create profit and confident investments. The supply and demand simulation highlighted the important of just that from a commercial setting. Today’s housingRead MoreSupply and Demand Simulation Paper886 Words   |  4 PagesSupply and Demand Simulation Paper ECO/365 Week 2 Individual Assignment February 25, 2013 Supply and Demand The analysis will identify two microeconomics and two macroeconomics principles or concepts from the simulation, and explain why each principle or concept is in the category of macroeconomics or microeconomics. The analysis will identify at least one shift of the supply curve, and one shift of the demand curve from the simulation and what causes the shifts. The analysis will showRead MoreSupply and Demand Simulation Essay1024 Words   |  5 PagesSupply and Demand Simulation Supply and demand plays an intricate role in the amount, price, and availability of products and services. The applying supply and demand concepts simulation guides users through making decisions for Goodlife, a management company for 2 bedroom apartments in Atlantis. The simulation names the user the property manager; responsible for vacation residents, new pricing for units, and advertising. The property manager makes decisions in circumstances including the changing

Business Analysis Verizon Wireless - 1152 Words

Business Analysis Lakecia Brown Strayer University Dr. Brian Collins BUS508: Contemporary Business October 25, 2015 Verizon Wireless Prior to the 21st century, most of the world’s communication was done via telephone or through face-to-face interaction. The advancement of the cell phone, the ease of emailing replaced the standard letter writing or silent immediate communication with texting. The instant access of a camera could capture moments never caught before. No longer did individuals in society have to wait until they arrived home to play video games, they could access their favorites through their phones or tablets. With the beginnings of such companies as US Cellular and Sprint, Verizon Wireless researched the models to analyze successes and failures to devise a business concept that would transcend location and time. Verizon Wireless is one company that is dedicated to â€Å"empowering people with revolutionary technology†. Verizon is considered one of the world’s largest cellular phone providers with the highest customer satisfaction rating. The headquarters i s located in Basking Ridge, NJ and Verizon employs over 85,000 individuals around the world. The employees are considered one of the company’s greatest assets where each individual’s talent is valued. Employees hold positions in the fields of sales, customer service, management, technology and network positions. Verizon makes its company very enticing for employees by providing anShow MoreRelatedVerizon: Analysis of the Wireless Business2408 Words   |  10 PagesVerizon is a major telecommunication provider in the United States. The company is the market leader, with $110 billion revenue and $2.4 billion in profit (MSN Moneycentral, 2012). Verizon has steady revenue streams that are largely based on a subscription model. It has several business segments, including wireless (63.3% of revenues) and wireline (36.7%) (2011 Verizon Annual Report). 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Change Management Portfolio

Question: Discuss about theChange Management Portfolio. Answer: Compare and Contrast Different Types of Interventions. When it comes to change management, all types of interventions are related in one way or the other(Adrian, 2009). For example, the effect of affecting change about technology, this will not only be limited to the working environment of a group or to the hardware and the physical environment. It will also look at the way that employees are going to improve their interpersonal skills; this is concerning where people sit and the kind of disruption that will be in the new regime(Armstrong, 2012). The other areas of intervention will also look at other interrelated issues in the organization. This is because, no matter the organisations. There will always be different levels of functionalism to look at. One is the individual group function and the other is the organizational function. When it comes to the organizational functions, one usually looks at the targets of change about the level of organisations that is mainly affected(Blake, et al., 2012). Another example related to the one is on conducting some techno structural interventions which will affect grounds and individual. For example when discussing the return to work formula, the others may only affect primarily on the total organisations which the other will one look at the structural design of the change. According to Blake, et al. (2012), several interventions will focus on people in the organisations and the ways in which they can accomplish goals in those organisations. The change processes will look at areas such as problem solving, communication, leadership and group decision making in the organisations. These types of interventions are usually incorporated when looking at programs that incorporate people within the organisations and procedures that they need to follows to accomplish goals in the or ganization. In addition, the intervention chosen should be deeply related to the history of the organization. It needs to represent the earliest change programs that characterize organisations direction. This can include areas such as meetings and the T-group. The Human process interventions usually come from social psychology and psychological disciplines, it will also look at applied fields of human relations and group dynamics. Human resource management that apply these types of interventions will usually look at the values that these interventions hold to human fulfilment and the expectations that organizational growth will be improved. This will also be realized when there is evidence of functioning human resource processes. In Adrian (2009), the writer also discusses human process interventions which is closely related to group dynamics and interpersonal relation. They will incorporate the following areas: Process consultation: this type of intervention will usually look at the social dynamics and interpersonal relations that will happen within a group. T-group: this is one of the oldest intervention processes. The process is designed in a manner that it can provide members with an opportunity to learn from experience about leadership, group dynamics and other forms of interpersonal relations. Team Building: This is another type of intervention that concentrates on helping organization working groups to be able to accomplish their tasks in a much more effective manner. The team building type of interventions is almost like process consultations, this is because It assists members to identify issues in their group and find ways if solving them. Third Party intervention: This type of intervention will look at dormant interpersonal relations in the organization, at this, an expert will be called to take the group through the intervention process. Define and Discuss Learning Organisations. According to Akpoyomare, et al. (2012), learning organization is a term that is given to an organization which facilitated the learning of is employees from time to time in an effort to transform the whole organization. The term was discovered by the research of Peter Senge and his colleagues due to the pressure that was facing modern organisations, to assist them remain competitive in the business environment. During learning organisations, the following areas are usually of paramount importance. Systems Thinking: This is where the idea of learning organisations was derived. According to Baker Anderson (2010), this involves a conceptual framework which allows groups of people in the organization to study areas that are business bound. In learning organisations, individuals will use this type of thinking during the time they are assessing their company to have information systems which measure performance in the organization as part of its various components. According to Harzing Pinnington (2011), system thinking will look at all organizational characteristics as being apparent at once in the organization so that it can qualify as a learning organization. There also need to be commitment by individuals in the organization during the learning processes. This is known as personal mastery. In any industry, there will be competitive advantage for the organization that has a workforce which learns a lot in a short time than that which does not. In addition, each individual learning will be acquired by conscious self-improvement, development and staff training. In addition, learning will not just be forced on an individual which is not open to learning. According to Armson Whiteley (2010), a lot of learning in the when at workplace is usually objective. It does little to do with the individuals formal training. In this regard, it becomes important for organisations to develop a culture that personal mastery is the order of the day. In addition, organisations need to have a shared vision. This is important as organisations are able to come up with a common identity which is important in creating energy and vision for learning. According to Akpoyomare, et al. (2012) the most successful organisations are built on a vision that is shared am ong individuals at all levels of the organization. In this regard, traditional structures should be done away with and introduce new decentralized structures with long term goals for the company. In addition, Akpoyomare, et al. ( 2012) adds that there must be team learning as it allows for the staff to grow and learn more quickly than individual learning. In also problem solving within the organization becomes easier in a team that when done at the individual levels. If all the above steps are observed, then organisations will benefits as it will improve the quality of outputs at all organizational levels. There will be increased levels of innovation and organisations will be able to remain competitive. Organisations will also be in a better place to respond to external pressures. The companys corporate image will also improve at different organizational levels, lastly, learning pace in the organization will be increased brining about change(Armson Whiteley, 2010). If these processes are implemented in step by step processes then organisations are bound to have competitive advantage over the rest. Describe Performance Management and Appraisal from Both Individual and Group Perspectives. According to Ibbs, et al. (2011), performance management in organization is usually goal oriented. It will be aimed at making sure the organization process is in the place to maximize employee productivity, that of the team and the organization as a whole. Performance management thus plays are major part in the creation and fulfilment of the organizational strategy as it looks at ways of measuring and improving workforce value for the individual and the organization. At the individual perspective, performance management will look at the way incentives are provided and other areas like annual leave and working hours. Bozarth Handfield (2012) adds that there is a close relationship between performance and salary scale. In this regard, performance management systems thus becomes one of the major focus for modern businesses. In addition, even though different functions of human resource will contribute to training, performance appraisal and performance management will play a major role in all the functions. In addition, when one looks at performance appraisal, it will usually occur at a specific time in the organization, performance management. On the other hand will be ongoing and dynamic all the way. As an individual, one becomes the part of performance management systems(Best, 2008). This is because areas such as appraisal, training, rewards are all integrated and linked about continuing the effectiveness of the organization. According to Ibbs, et al. (2011), performance management ensures that efforts of each worker is directed at achieving particular strategic goals. In addition, when the skills of a worker needs to be improved, performance management will recommend that the individual undergo training in the area. This is because through training, organizational goals are also achieved. On the other hand, performance appraisal is a formal system of evaluation and review of the individual and team task performance. The main areas to look at is the word formal, this is because in a normal setting, it is the manager who reviews individual performance and recommend for appraisal. At organizational level, performance appraisal will highly be responsible for the success of the organization. Even though performance appraisal is one component when looking and performance management, it is important and it will directly be controlled by the companys strategic plan. Best (2008) adds that although organizational performance evaluation is important when team exist in organisations, the focus when it comes to performance management in organisations will remain to be on this side of an individual employee. Even without the emphasis, the most effective appraisal system will usually evaluate organization performance and come up with plans to develop goals, and objectives in the organization. Hackman Katz (2010) also argues that performance appraisal is mostly a negative activity that is disliked by employees since it eludes mastery. In addition, most managers refrain from giving them and employees may not like receiving them, especially when lower rated. In addition, some managers may provide appraisal of employees, which cannot be centered on the employee, but on the ways that they love the employee. Best (2008) however says that performance appraisal should be used to encourage performance and improvement. It can also be nice criteria for justifyin g terminations or improving results in the organization. Describe Both Downsizing and Re-engineering, then Compare and Contrast them. Downsizing in organization is used in the reduction of the size of employees or other aspects of the organization in an effort to improve financial performance. According to Heller Darling (2012), an organization will use different techniques during downsizing. The most common is laying off employees; in doing so, organisations will provide incentives as a ways to request them to take early retirement and transfer to other equal companies. However, the most common ways of doing this is simply terminating employment of a particular number of people, especially from a department that simply is not performing. In addition, organization downsizing will also take place as part of the companys restructuring program. Even though this is thought of as being a strategy which companies can use to become smaller, organization downsizing is can also come up during mergers, takeovers and acquisitions. According to Giannakis, et al. (2015), organization downsizing is usually common ways of laying off employees and reducing the cost of payroll for the company. This will also involve shuttering dormant operations and offering theses employees early retirement packages. Organization downsizing is also seen during downturns of economy of a country to improve organization efficiency and maintain profitability in the organization. However, in the event that several companies cut off their payrolls, then it may downturn because of higher unemployment. One example of downsizing happened with Mobil ink in 2009 where the companys employees were shocked and stunned inn a manner which they were terminated. There were total of 60 employees in the hit list that included on director, specialists and managers and associates. Also in 2014, the Pakistan international airlines laid off extra employees where the federal government in the same effect introduced a voluntary handshake plan for them(Jacobs Chase, 2014). Organization re-engineering on the other hand is the process of improving the organization. Just like organizational downsizing, re-engineering is usually focused on increasing the companys profits, reducing costs and improving the companys competitive advantage in the marketplace. As it does this, organization re-engineering will also look at ways to enhance the companys public image. Through re-engineering companies are required to look closely at the strengths and weaknesses, they need to understand the difficult questions so as to known where it may be vital for them to make changes for the betterment of the organization. There are several important elements at are looked at during organization re-engineering(Baker Anderson, 2010). For example, re-engineering does not take place when there is no full support of the upper management of the company. When there is clear approval of the management, then people responsible for re-engineering will be called upon to develop a clear plan that will review the organizations mission and vision and decide on the new strategic direction. Just like downsizing, re-engineering in organisations offers several benefits for the overall productivity of the company. First, it identifies elements of the organization that will create costs with few benefits and come up with necessary adjustments. These adjustments are at times changes in the way the department is conducting its business. What are the Advantages and Disadvantages of Alliances? Give Examples where Appropriate. According to Cameron (2004), a strategic alliance happens where there is an agreement between two or more companies in an effort to realize the set objectives which are required by the partnership while at the same time maintaining the independence of the organisations. Heneman Judge (2006) adds that a strategic alliance usually falls short of any form of legal agency, entity or corporate affiliation kind of relationship. Usually strategic alliance exists among to companies which come together to form a strategic alliance. In doing so, there must be a shared interest in what each side possesses. This can be in form of expertise, or assets that if incorporated will help the other partners grow or develop in their business. Also Dowling, et al. (2013) argues that strategic alliance are used in outsourcing the relationship in situations here the two companies a looking to have a long term growth and innovation on the basis of mutually desired outcomes. Usually this kind of corporation is acquired when companies merge or corporate among each other. In this regard, strategic alliance are important to maintaining mutual benefits among organisations. During such alliances partners will provide different types of strategic alliance resources. This main include distribution channels, products, project funding, manufacturing workforce, capital equipment, expertise, knowledge and intellectual property. Dowling, et al. (2013) adds that a strategic alliance should also be looked at in terms of a collaboration or cooperation that is geared towards some form of a synergy where each of these partners hopes that they are going to benefit from the alliance. Each of then hopes to find something greater than individual efforts in the alliance. In most cases, strategic alliances involve the transfer of technology including access to expertise and knowledge, shared expenses, economic specialization and sharing of risks involved. This shows that strategic alliance have a lot of advantages to individual companies. Armstrong (2012) affirms that strategic alliances have often been used to solve emerging problems in organisation and increase collaboration and innovation among them. There are however some advantages in strategic alliances, one of them is lack of control for the company. When a company aligns with another, they tend to lose some degree of control in the way they run the business or how it is perceived by the public. For example, if one is running a hotel business and forms an alliance with the meat processing company a few blocks away, one may not be responsible for hiring and training meat producers meaning they may not be responsible on how they do their jobs(Blake, et al., 2012). This means that if the meant producer delivers stale meat and is processed in to a hamburger by your company, you may not control this. The other disadvantage is that it provides unequal benefits for the company. This calls for a lot of care when vetting the contractual agreement. In most cases, businesses are not assured that the alliance will be beneficial to both of the companies. For example if one agrees to refer customers to the meat production company, the fact that people may begin buying meat and making home hamburgers is not the partners fault. References Adrian, H., 2009. Corporate truth: the limits to transparency. Sterling: VA: Earthscan.. Akpoyomare, O., Adeosun, L. Ganiyu, R., 2012. Differentiation and Positioning Strategy: A Toss of the Same Coin.. International Journal of Management and Sustainability, 1(2), pp. 53--65. Armson, G. Whiteley, A., 2010. Employees' and managers' accounts of interactive workplace learning: A grounded theory of complex integrative learning. Journal of Workplace Learning, 22(7), pp. 409-427. Armstrong, M., 2012. Armstrong's handbook of management and leadership: developing effective people skills for better leadership and management. s.l.:Kogan Page. Baker, H. K. Anderson, R., 2010. Corporate Governance: A Synthesis of Theory, Research, and Practice (Robert W. Kolb Series). s.l.:Wiley; 1 edition. Best, R., 2008. Market-Based Management (5th Edition). s.l.:Prentice Hall; 5 edition. Blake, S., Browne, J. S.Sime, 2012. A practical approach to alternative dispute resolution. 2 ed. Oxford, United Kingdom.: Oxford University Press. Bozarth, C. Handfield, R., 2012. Introduction to operations and supply chain management. 3rd ed. Upper Saddle River, New Jersey: Pearson Prentice Hall.. Cameron, K., 2004. Strategies for successful organisational downsizing. Human Resource Management, 33(2), pp. 189-211. Cascio, W. Wynn, P., 2004. Managing a downsizing process. Human Resource Management, 43(4), pp. 425-436. Chernev, A. Kotler, P., 2012. Strategic Marketing Management, 7th Edition. s.l.:Cerebellum Press; 7th edition. Crane, A. Matten, D., 2014. Business ethics : a European perspective : managing corporate citizenship. 2 ed. Oxford: Oxford University Press. Dowling, P., Festing, M. Engle, A., 2013. International Human Resources Management. 6 ed. s.l.:Cengage Learning EMEA. Giannakis, D., Harker, M. T.Baum, 2015. Human resource management, services and relationship marketing: the potential for cross-fertilisation. Journal of Strategic Marketing, 23(6), pp. 526-17. Hackman, J. Katz, N., 2010. Group behavior and performance. In S. T. Fiske, D.T. Gilbert, G. Lindzey (Eds.). Handbook of social psychology (5th ed.), Volume 2, pp. 1208-1251. Harzing, A. Pinnington, A., 2011. International Human Resource Management. London: Sage Pub. Heller, V. Darling, J., 2012. "Anatomy of crisis management: lessons from the infamous Toyota Case",. European Business Review, , 24(2), pp. 151-168. Heneman, H. Judge, T., 2006. Staffing organizations. 5th ed. Middleton, WI.: Mendota House. Ibbs, C., Kwak, Y. Wong, C., 2011. Project Change Management System. Journal of Management, 17(3), pp. 159-165. Jacobs, R. F. Chase, R. B., 2014. Operations and supply chain management. 14th ed. New York: McGraw-Hill/Irwin.