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I will pay for the following article Traditional and Modern Theories of Decision Making. The work is to be 9 pages with three to five sources, with in-text citations and a reference page. The original objective of profit maximization is achieved and growth, as well as sustainability, assured when firms adapt to these theories.

Firms make business decisions based on strategies. Strategy begins with planning, with objectives at the other end of the spectrum. It is the function of management to make strategies therefore Strategic Management is the process of the management that gives direction to the company about its objectives and the details of how these are intended to be achieved. There are four characteristics of Strategic Management.

However traditionally, from Adam Smith onwards the strategy has revolved around production or input cost and profits. All decisions are therefore aimed at the twin objective of cost reduction and profit maximization.

Traditional or neoclassical theories believe that business firms try to reduce the cost of production. Costs are determined by the quantities of inputs multiplied by their price. As production increases, the costs reduce and profit margins increase. But this is demand-based. As demand decreases so does output and costs increase resulting in lower profits or even losses. This then is the most simplistic formula that was the driver of a business strategy that accounts for a pure demand and supply situation.

However, there are many shortcomings to this approach. This does not take into account the behavioral factors that affect decisions. This also ignores that there are hierarchies in business. that there are superiors and subordinates. Management is scarce and not easily obtained and that it is often more economical and fruitful to hire managers rather than manage by oneself.

This brought about the Agency theory that considered stakeholders (Jensen and Mechling, 1976). This showed that aside from owners, there are other groups that are interested in the performance of the firm or company and due to their interest the company requires a strategy.

 

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AP Economics Essay

Research Question:

How do the laws of supply and demand affect the price of oil in the United States?

Questions that should be also answered in your essay:

Analysis 1. Where does the oil that Americans and Europeans consume come from?

            Determine which nations have a surplus of oil and identify which nations have a

            shortage or a demand for oil.

Synthesis 2. How does OPEC use oil as a political and economic weapon?

            Track the supply and demand for oil since 1945, what changes have you

            observed?

Prediction/Evaluation 3. Are there any viable options for alternative sources of energy? Are European nations or the United States trying to create demand for alternative sources of energy? Cite with specific evidence.

Format:

2-3 pages

12 Font

Double space

5 in – text citations

Chicago style

DUE DATE: October 26th 11:59 PM

Benchmarks:

Each night you are required to conduct research in order to complete a graphic organizer. The graphic organizer serves of data collection and pre-writing. On Wednesday and Friday, you will learn about the supply and demand for oil, global consumption, producers, and how supply and demand shifters may raise or lower the price of oil.

Cognitive Levels:

Analysis, Synthesis, and Evaluation

 

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Assignment Content

  1. Complete the following Case Problems from Fundamentals of Investing:
    • Case Problem 10.1: Max and Veronica Develop a Bond Investment Program, Questions A-E (page 422)
    • Case Problem 10.2: The Case of the Missing Bond Ratings, Questions A-C (page 423)
    • Case Problem 11.1: The Bond Investment Decisions of Dave and Marlene Carter, Questions A-B (page 463)
    • Case Problem 11.2: Grace Decides to Immunize Her Portfolio, Questions A-F (page 464). 
    • Format your submission consistent with APA guidelines.Submit your assignment.

 

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Business Ethics: Final ExamRead the case below and write about ONE of the topics below making sure to IDENTIFY THE MAIN ETHICAL DILEMMA:1. Discuss the differences between what a Kantian and what a Utilitarian would decide to do2. Argue one side or the other as a Kantian or a Utilitarian3. Discuss what is “just” from a Rawlsian perspective vs. a Nozickian perspective4. Argue for justice from either Rawls’ perspective or Nozick’s perspective5. Argue for/against Milton Friedman’s point of viewThe essays will be graded based on completeness of the answers, understanding of the ethical issue, sound philosophical reasoning, and clarity of writing. The answer must be at least 2 pages long, but more importantly it must completely answer the question.Case Study: Plasma InternationalThe Sunday headline in the Tampa, Florida, newspaper read:Blood Sales Result in Exorbitant Profits for Local FirmThe story went on to relate how the Plasma International Company, headquartered in Tampa, Florida, purchased blood in underdeveloped countries for as little a 90 cents a pinti and resold the blood to hospitals in the United States and South America. A recent disaster in Nicaragua produced scores of injured persons and the need for fresh blood. Plasma International had 10,000 pints of blood flown to Nicaragua from West Africa and charged hospitals $150 per pint, netting the firm nearly 1.5 million dollars. As a result of the newspaper story, a group of irate citizens, led by prominent civic leaders, demanded that the City of Tampa, and the State of Florida, revoke Plasma International’s licenses to practice business. Others protested to their congressmen to seek enactment of legislation designed to halt the sale of blood for profit. The spokesperson was reported as saying, “What kind of people are these-selling life and death? These men prey on the needs of dying people, buying blood from poor, ignorant Africans for 90 cents worth of beads and junk, and selling it to injured people for $150 a pint. Well, this company will soon find out that the people of our community won’t stand for their kind around here.””I just don’t understand it. We run a business just like any other business; we pay taxes and we try to make an honest profit,” said Jack Smith as he responded to reporters at the Tampa International Airport. He had just returned home from testifying before the House Subcommittee on Medical Standards. The recent publicity surrounding his firm’s activities during the recent earthquakes had once again fanned the flames of public opinion.Smith was a successful stockbroker when he founded Plasma International. Recognizing the world’s need for safe, uncontaminated, and reasonably priced whole blood and blood plasma, Smith and several of his colleagues pooled their resources and went into this business. Initially most of the blood and plasma they sold was purchased through store-front operations in the United States. Most of the donors were, unfortunately, men and women who used the money obtained from the sale of their blood for wine and drugs. “While sales of the blood and plasma grew dramatically several cases of hepatitis were reported in recipients. So the company began a search for new sources.The company recruited a highly qualified team of medical consultants. This team, after extensive testing and a worldwide search, recommended that the blood profiles and donor characteristics of several rural West African tribes made them ideal prospective donors. After negotiating with the State Department and the government of Burami, the company was able to sign an agreement with several of the Burami tribal chieftains.As Smith reviewed these facts, and the many costs involved in the sale of a commodity as fragile as blood, he concluded that the publicity was grossly unfair. His thoughts were interrupted by the reporter’s question: “Mr. Smith, is it necessary to sell a vitally needed medical supply, like blood, at such high prices especially to poor people in such a critical situation?” “Our prices are determined on the basis of a lot of costs that we incur that the public isn’t even aware of,” Smith responded. However, when reporters pressed him for details of these “relevant” costs, Smith refused any further comment. He noted that such information was proprietary in nature and not for public consumption

 

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