Friday, February 21, 2020

Implementation of an Improvement Strategy in an Organizational Essay

Implementation of an Improvement Strategy in an Organizational Structure of Mathews Corporation - Essay Example As the discussion stresses systems and business, basically Matthew Corporation was founded in 1923 and is a leader in high-performance labels, signs, and associated industrial safety products. It manufactures ultra-thin recognition labels for handheld electronic devices. One more labels it producer shields electronic devices by dispersing their temperature or static. A number of labels work in temperatures colder than 50 below zero, others burn or turn out sounds in the dark, cover themselves, or still stick to oily or greasy products. So this is the little introduction regarding the company business and production. This paper highlights that the key function carry out by the company is to run the 30 business units and manufacture and distributes its labels from 35 locations in 15 countries on five continents around the world. There are lots of countries where this company supplies its products. The basic task of the company is to produce the high-performance labels and related industrial safety products. If the reporter   talks about the competitive forces that are attached to the overall company system then we get that in this new age and with the availability of new digital system, customers have the facility of purchasing and ordering online for their products. In this area a lot of new companies have launched their websites to support their business in a better way through internet facility. So there is lot of computation on e-business for the company, and this challenge can only be achieved through better online order management and ecommerce standards implementation. The basis of compet ition is the availability of better online and ecommerce support to the customer. Nowadays there is need of less time consumption in order processing and better online customer support and services.

Wednesday, February 5, 2020

Assignment Example | Topics and Well Written Essays - 1500 words - 4

Assignment Example There may be two types of efficiency in the market Productive efficiency and Allocative efficiency. The perfectly competitive market ensures maximum efficiency. In perfectly competitive the maximum profit point is where the marginal cost is equal to marginal benefit and since for them MR = AR= P. thus the profit maximization point i.e. MC =MR also ensures MC = MU (price). This means that in perfectly competitive markets the marginal benefit to the society derived by customers while consuming the product is just able to cover the marginal cost incurred by the society through the producer. Thus the marginal loss to the society is equal to the marginal benefit to the society which is a condition for efficiency. Which is not case with imperfectly competitive markets whose MU may not equal to MC at the point of profit maximization i.e. MR = MC, as for imperfectly competitive markets MR may not be equal to AR and price. Thus MC and price may not be equal. An example of market very close to perfect competition is street vegetable market in developing countries. The products are almost similar and each buyer and seller is very small thus almost similar prices prevail. Thus MR = P = AR, and for profit maximization MC = MR which means MC = P (MU) which ensures utmost efficiency. Figure 1 shows the profit maximizing point for a competitive market firm. The point for profit maximization is qe, as here MR = MC and since it’s perfectly competitive, AR = P = MR, thus MC = P, which shows the efficiency in the market. b) The example of imperfect competition is tooth paste market in the US a lot of firms selling differentiated products to many buyers. In this case the firms don’t sell at similar prices and their demand curves are sloping downwards thus MR falls faster than AR and P. Thus when MC comes equal to MR MC is actually less than AR which keeps the prices