Introduction economics Essay Example | Topics and Well Written Essays - 1750 words

Introduction economics - Essay Example and S. Brue, 2005). That people have different mental, physical, and aesthetic talents are verifiable realities. That some have who may have inherited the exceptional mental qualities and that are essential to such high paying occupations such as corporate leadership and medicine (McConnell. and S. Brue, 2005; Frank, 1996; Jennings, B. et al, 2002). Others are also gifted or borne with the physical capacity and coordination to become highly paid professional athletes. Further, one can observe that a few have talents can aspire to actually become artists and musicians while allowing the others to have beauty to become to fashion models (McConnell. and S. Brue, 2005). Unfortunately, others have weak mental talents and may spend their lives working in low-paying occupations. In some cases, they may be unluckily incapable of earning any income at all. The rest of people may have intelligence and skills that come between two the extremes. People differ also in terms of education and training. Some people have native ability, and some people might further develop and refine their talents capabilities through education and training. With difference in education and training their capacity will also vary to cause them to have varying income. Companies employing discrimination in hiring also causes in equality in income. As in the United States, discrimination could restrict racial and ethnic minorities to low-paying occupations (McConnell. and S. Brue, 2005). The reality of preferences and risks chosen by different people (Bonvin and Farvaque, 2005; Esters and Ledoux, 2001; OHalloran and Linton, 2000) for work relative to pleasure, to work in the household and the types of market work definitely will cause differences in income as riskier jobs would normally get paid higher. Wealth produces income and the unequal distribution in the former could be factors in causing inequality as well in income distribution. A wealthy person who

Corporate Strategy Essay Example | Topics and Well Written Essays - 2500 words - 2

Corporate Strategy - Essay Example .W.O.T analysis shows the internal strengths and weaknesses of the company and the external opportunities and threats in conjunction to the environment in which the company operates (Stimpson Peter,Farquharson Alastair, 2010). Primarily, Dyson Private Ltd.’s main internal strengths of are its human resource of the company, which consists of highly professional fleet of engineers and scientists including Sir James Dyson himself. Secondly, the company has an edge as a resultant of the cost saving which was achieved when the operations such as an introduction of a manufacturing assemblies being established in Malaysia, most significant strength of the company lies with the quality of products it offers to its customers. On the contrary, the weaknesses associated with Dyson Pvt. Ltd. are the remoteness of its operation in Malaysia that is the cost of transport incurred and the communication problems in Malaysian corporate culture restricting effective communication. Moreover, the external factors resulting in future opportunities and hence success for the company is the potential of customers in the global market for its promising products, similarly the continuous research and development of new prototypes and designs. External threat for Dyson Private Limited is mainly the competition from the home country and foreign countries, the main competitors for Dyson vacuum cleaners are Kerstar (Kerstar, 2014), which also like Dyson Co provides a large range of vacuum cleaners with alternative variations, such as dry vacuum cleaners, wet and dry dwarf vacuum cleaners, industrial vacuum cleaners, carpet vacuum cleaners and others. However, Kerstar’s pricing strategy is penetration pricing strategy, as per renowned UK ranker website (Brandes, Werner, 2014), Dyson Pvt. Ltd. ranks number 1, and for this reason, Kerstar uses this pricing strategy. Another major competitor confronted by Dyson Private Limited is the Big Brute Co (Big Brute, 2004). Big Brute Co. of fers a wide