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Also called resource cost advantage. The ability of a party (whether an individual, firm, or country) to produce a greater quantity of a good, product, or service than competitors using the same amount of resources. absorption The total demand for all final marketed goods and services by all economic agents resident in an economy, regardless of the origin of the goods and services themselves ...
It can be shown that in this economy, satisficing leads to collusion amongst firms: competition between firms leads to lower profits for one or both of the firms in a duopoly. This means that competition is unstable: one or both of the firms will fail to achieve their aspirations and hence try something else.
In his 2012 book Seeing the Big Picture, Business Acumen to Build Your Credibility, Career, and Company, Kevin R. Cope states an individual who possesses business acumen views the business with an "executive mentality", with the ability to comprehend how the moving parts of a company work together to make to ensure success, and how financial metrics like profit margin, cash flow, and stock ...
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In economics, organizational effectiveness is defined in terms of profitability and the minimisation of problems related to high employee turnover and absenteeism. [4] As the market for competent employees is subject to supply and demand pressures, firms must offer incentives that are not too low to discourage applicants from applying, and not too unnecessarily high as to detract from the firm ...
High-performance teams (HPTs) is a concept within organization development referring to teams, organizations, or virtual groups that are highly focused on their goals and that achieve superior business results. High-performance teams outperform all other similar teams and they outperform expectations given their composition.
Individuals can set personal goals: a student may set a goal of a high mark in an exam; an athlete might run five miles a day; a traveler might try to reach a destination city within three hours; an individual might try to reach financial goals such as saving for retirement or saving for a purchase.
Capacity building (or capacity development, capacity strengthening) is the improvement in an individual's or organization's facility (or capability) "to produce, perform or deploy". [1] The terms capacity building and capacity development have often been used interchangeably, although a publication by OECD-DAC stated in 2006 that capacity ...