Factors Influencing Demand

A Demand and Supply Graph Factors Influencing Demand This article serves to supplement the article Influences for Supply and Demand, that I wrote a while ago. For a more general overview of supply and demand, I suggest visiting there first. Demand has many factors that influence a market, such as;- Changes to the prices to substitute products, such as cheaper products available online or at discount stores could reduce the sales of a premium product or product range. Changes to the availability of complementary goods or changes in the price of complementary goods, such as two large luxury opposing ice cream… Continue reading Factors Influencing Demand

Factors Influencing Supply

A Demand and Supply Graph Factors Influencing Supply This article serves to supplement the article Influences for Supply and Demand, that I wrote a while ago. For a more general overview of supply and demand, I suggest visiting there first. Supply has many factors that influence a market, such as;- The availability of raw materials. The time it takes to process a set, batch or quantity of stock, like aged wine or hard sweets. Disruptions to the distribution chain of competitors, such that their prices or other aspects change. Natural Disasters utility supply issues or storage issues. Advertising could increase consumer… Continue reading Factors Influencing Supply

Critical Path Analysis

Critical Path Analysis has ties with corporate strategy and human resources. It enables a business to gain a competitive advantage by effectively planning their time to pursue a goal. This can be especially important when they are trying to be first to market or when the process requires a lot of routine steps. It is also relevant in the computing sector and neural networks. Detailing the steps involved can help to create a better picture of the complexity of a project. To do this, Critical Path Analysis Diagrams are used to break down the project into stages. Each stage is… Continue reading Critical Path Analysis

Advantages and Disadvantages of Capital and Labour Intensive Production

In Business, production generally has two techniques; Labour Intensive Production aims to use a large workforce to complete work by hand, this usually employs a lot of people to create a product. Some products may be seen to have more value if they were manufactured by hand. Capital Intensive Production aims to create a product using as little people as possible, the process could be entirely or partially automated and can sometimes be used to assist individuals in manufacture, such as a custom robotic factory worker that moves parts of a product to assembly, or a robot that screws in… Continue reading Advantages and Disadvantages of Capital and Labour Intensive Production

Trade-offs and Opportunity Cost

What is Trade-offs and Opportunity Cost? Trade-offs are choosing one thing over another, if you choose to invest in paint over pencils, your opportunity cost, is that you can no longer colour with pencils. This is a poor example, so lets look at some real data so we can get a good understanding of what opportunity cost is really about, and for that we need an example. Nails and Hammers LTD. A company, called Nails and Hammers LTD, produces hammers and nails, they have a good reputation, but are not really known, they also manufacture their hammers cheaply and therefore some… Continue reading Trade-offs and Opportunity Cost

Advantages and Disadvantages of a Public Limited Company

What is a Public Limited Company? A Public Limited Company is a business that has decided to offer it’s shares on the public stock market. The Stock Market is where anyone can invest in a Public Limited Company. These are usually high value, large businesses that can have massive profits, and offer dividends to those who invest. In order to become a Public Limited Company, PLC, you need; At least two directors. A Secretary And you must float at least $50,000 shares on the stock exchange, to become a PLC. Unlike other businesses, a PLC is often owned by a… Continue reading Advantages and Disadvantages of a Public Limited Company

Advantages and Disadvantages of Types of Processing data

When data is processed there are multiple methods of processing data, there are several types that all have individual Advantages and Disadvantages. Batch, Interactive and Transaction Processing Batch Processing Batch Processing is when data is processed in ‘batches’ (groups)   Advantages Batches mean that the process does not require human interaction, this allows the system to be automated and means that it can be left running for multiple sessions at a time, that could potentially last a long time, This type of process can also allow for custom processing ‘jobs’. Which means that the data can be suited to fit the needs of… Continue reading Advantages and Disadvantages of Types of Processing data