Using game theory to identify and assess the risks of General Motors The game theory could be an effective strategy in dealing with a risk. A renowned organization like General Motors will convert its traditional fuel-based vehicle line into an electric-based vehicle line. It is a significant transformation and requires the right approach. Game theory mainly involves identifying the effect of a decision on two important parties connected with the business. They are customers and employees. Customers will influence the decision-making process of the management. The company will consider the probable impact on customers after they have transformed their business from traditional line to modern electric business line. In this game, the customers are a major player as their preferences and needs would determine the ultimate sales and performance of electric vehicles (Wilks & Zimbelman, 2004). The second players are the employees. Hence, the response of the employees or second player to the choices of the first player or customers will determine the success rate of EVs. In this competitive market, without the effort and collaboration of employees, General…
Rhetoric Analysis Essay of the Four Freedoms Speech An action of convincing 133.4 million audiences is considered as a daunting task. This is especially when the audience must be convinced of joining a war less than thirty years after World War 1. President Franklin D. Roosevelt addressed the state of the Union On January 6, 1941, which began his third term as the President of the United States. The speech was broadcasted on radio across the United States and was further aimed at sparking the idea of Joining World War II, before the attack on Pearl Harbor. Franklin D. Roosevelt’s speech on the state of the Union Address is often recognized as the “Four Freedoms” speech. Franklin further uses nationalism themes, diction, repetition, metaphors, and illocutionary phrases to convey and impact the audience. Throughout his speech, Franklin articulated a predominant vision for the world, in which, every individual would have the freedom of worshipping God in their specific ways, freedom of speech and expression, and freedom from fear and want (Top 100 Speeches of the 20th Century – American Rhetoric,…
What Causes Energy Prices Fluctuations in the Market. Fluctuation in energy prices has a significant impact on the economy. It is, therefore, vital to understand the possible causes of the changes in rates so that proper measures can be put in place to manage these conditions. Energy is a necessity as a component of development in the economy. Governments invest a lot in power since it promotes investment and production, which creates employment leading to growth in the economy. Forces of demand and supply can explain the rise in oil prices in the market. The rise in demand for energy products can be explained by an increase in industrialization, especially in developing nations such as China and India. In the past, the demand has been successfully met by oil-producing countries such as Nigeria and Middle Eastern nations, but this has not been possible in recent years. Production requires energy, which is either non-renewable or expensive to produce. For instance, oil is one source of energy that is readily available, but it is non-renewable, electricity, on the other hand, is expensive…
EMPLOYMENT RELATIONSHIPS Introduction A slow economic growth rate postulates that the workforce size must be decreased. As such, concerns have increased due to massive competition experienced in the manufacturing industry. Thus, organizations have been forced to close down while others have engaged in the massive cutbacks. Plant closing entails the impermanent shutdown of a working unit, which results in the laying off of more than 50 workers but excludes individuals who work for less than 20 hours per week. The global economic crisis resulted in firms laying off some of their taskforce members in Singapore due to unfavorable working conditions. For instance, in Singapore, the economic crisis led to the laying off of 11,010 employees, mostly in the manufacturing sector. Therefore, an analysis of the existing gaps has been provided while offering directions needed to be adopted by the government, labor, and business. Issues governing layoffs in Singapore The economic crisis reduced industrial production; thus nations withdrew their funding from Singapore’s key industry sectors. The Asian pioneers resulted in increasing the cost of major gadgets to the western countries. Despite…
Closing the Water Demand-Supply Gap in Arizona The supply of water is dependent on the available water resources provided by nature, the conditions and locations the natural sources are found, and the amount of water available in reservoir storage. Demand, on the other hand, is driven by population and increase of uses. And their efficiency and also the location of these uses. The Arizona population has steadily experienced growth from 2.7 million to 6.6 million in 1980-2009, with even an increase of economic resulting from increases in the use of water (Eden et al.). The population is expected to grow with water demand expected to increase through at varying degrees in a different location. Some places in Arizona currently experience water shortage while efforts to improve water storage are undergoing in other areas. However, the economic, legal, and political factors influence these efforts, some encouraging and others contributing to widening the gap. The water demand and supply Gap has seen various efforts being put in place to address the situation. Causes The increase in population has caused stress on the…
Launch of Realme 5s – Price and Specifications In this world of the mobile revolution, the competition became fierce between the brands showing who is ‘The best’ in the market by satisfying all the customer requirements. When mobile model is released, the foremost thing that a mobile company will do is to take a review from its customer. In case if there is any drawback in the model, immediately the disadvantages will be rectified in its successive model. This is how mobile companies race in the competition. The price factor will be comparatively high than its predecessor model, but it will be worth the features. Few customers will wait for the release of a mobile’s successive model in the market. In this series, ‘Realme 5‘ has introduced its successive model ‘Realme 5s‘ in the market recently. Urge among its customers to buy the phone has been increased due to its high specifications for the money. Below are the details about the price and specifications of the phone Realme 5s. Upgraded Specifications What are the upgraded specifications that the mobile company…
What was the economy like in Charleston, South Carolina, in the 1960s? In the early 20th century, agriculture was the key to the economy of Charleston’s estate; however, in the 1960s, the value of manufactured goods exceeded the number of agricultural products. Despite that agriculture has continued to play an essential role in the economy, it was then playing a diminishing role since employment in the service and manufacturing industry was increasing. The manufacturing industry was now involved in the production of non-durable products and fabric production. However, the trend changed in the late 1960s, and early 1970s were transportation equipment, and other durable goods were now playing a pivotal role (John & Donald 2019). Also, the service sector was propelling the economy, with tourism playing the most significant part. Since the 1960s, South Carolina farms have declined in number. However, cotton and cottonseed have remained a top crop. It was once in every estate, but now it’s limited to a few farms. Tobacco farms for many years it was a leading crop in the estate, and it remained central in…
direct and indirect price discrimination The competition is ever-growing due to the increased number of business organizations being established today (Rowe, 2019). This trend has pushed organizations to become more innovative so that they can deal with the competition and remain successful in the long run. Additionally, some organizations have been using different pricing strategies and methods so that they can attract as many customers as possible. This week I gained very relevant and helpful knowledge and insights concerning issues involving direct and indirect price discrimination and lastly about strategic games. Direct Price Discrimination-In this, there are several essential things that I learned and can be applied to solve real organizational problems (Froeb, McCann, Shor & Ward, 2017). First is that direct price discrimination refers to a process where an organization tries to set different prices on their goods/services for two groups. An organization usually does this practice to increase its profits since when different prices are charged on the same goods, then the organization maximizes its sales and margin. To do this effectively, the organization needs to identify the…
Corporate Finance: United Automobiles Company My firm, United Automobiles, is based in the United States. It will be exporting automobiles, especially passenger cars, to different countries across the globe. Its primary target market is Canada due to its high population that relies on the private transport system. For the interest of the business, it is essential to analyze various factors that can influence the balance of trade between the United States and Canada. Besides, the same factors may influence the demand for automobiles in Canada and consequently dictating the company’s success. Factors that affect the balance of trade between the United States and Canada Trade policies/ Regulations The success of UA Company will significantly be influenced by trade policies between Canada and the United States. Trade barriers limit the number of passenger cars exported to Canada. Policies that limit imports from the United States to Canada reduces the total amount of passenger cars exported. Further, subsidies on exports reduce the relative price of cars, therefore, making imported cars in Canada less attractive. Besides, in case Canada applies import quotas…
Being a Price-setter or a Price-taker The power of providers to set prices depends on the benefits derived from the provider. A provider can either decide to be a price-taker or a price-setter. For price takers, providers are regarded as powerless because they do not have a say on the prices. It, therefore, means that the providers cannot control the cost. The advantage is that the price set may be higher than what the provider could have charged, thus benefiting the provider (Barber, Lorenzoni & Ong, 2019). On the other hand, the price setter benefits from the prices they have set. The third-party payers are always expected to adhere to the price set by the providers “Letters: Who should set prices for healthcare services?” 2019). In this regard, the providers usually enjoy the benefits that are linked with the prices they set. While setting the costs, the providers consider all the expenses they incur and ensure that they breakeven. Having a third party-payer accepting the prices set by the providers can be advantageous to the price setters. Taking third party…