Running head: Case Study on Operations Case Study on Operations Insert Name Insert Insert 15 December 2011 Case Study on Operations Part I: Insurance and Economic Development Q1. Insurance companies influence entrepreneurial attitude, innovation, and investment in the economy through instilling confidence towards taking investment risks to produce, improve, and increase wealth…
Entrepreneurship generally entails the process where individuals with high aptitude undertake to pioneer change thus producing, improving, and increasing wealth. Such individuals are usually discouraged and held back by the uncertainties and risks that are involved with pioneering change. In this case, insurance companies come in handy to bear the risks involved with pioneering change at a reasonable premium and thus influencing entrepreneurial attitude, innovation, and investment. Establishment of businesses with new ideas is risky to businesses, since it involves pioneering investments into unknown ventures that may turn out to be either a gain or loss. Although there are outstanding entrepreneurs in the society that can bring about huge economic advancements, entrepreneurial capability exists among all human beings and it would therefore collectively build the economy, provided insurance services are availed for the unlimited risks that exist in the business world (Tiwari, 2007, p.171). Entrepreneurs undertake to insure themselves against risks involved with their ventures through entering into insurance contracts where they service the insurance with periodic premiums. Through insurance, entrepreneurs can venture into investment with a positive attitude and pioneer innovations irrespective of the risks involved. Innovation is the process of creating products, services, and technology in new and creative ways, which contributes towards solving business problems (Jolly, 2003, p.6; Bessant and Tidd, 2007, p.19). Although all human beings have entrepreneurial skills depending on the society and the environment in which they are brought up, very few individuals get to venture into entrepreneurships due to the fear of risks involved. Risk avoidance largely contributes to economic underdevelopment and thus insurance companies play a key role in fostering economic development through insuring entrepreneurs against business risks. Through insurance companies, entrepreneurs have the opportunity of transferring the risks the face through insurance policies that cover losses incurs by entrepreneurs incase of risk occurrence. However, more to insurance policies businesses have opportunities of transferring risks to other business participants such as the suppliers, customers, and even landlords. Businesses often face the risk of customers returning goods previously sold, to transfer this risk, the business may restrict return of goods thus avoiding costs of returned merchandise (Ramsey and Windhaus, 2009, p.134). Insurance companies generally influence investment and economic development, considering that good ideas for new companies can come from anyone who seeks solutions to existing problems faced and does not have to bear business risks involved (Read et al. 2011. p.12) Q2. Casualty and property insurance and life insurance largely contribute to the stability of consumption among citizens since they have confidence in future consumption risks. Consumers who fully insure themselves against unforeseen future financial challenges that may arise have the tendency to consume more in the present and thus, the economy of the country as a whole is stabilized. This is in consideration of the ...
Cite this document
(“Case Study on Operations Research Paper Example | Topics and Well Written Essays - 1250 words”, n.d.)
Retrieved from https://studentshare.net/finance-accounting/54604-case-study-on-oprations
(Case Study on Operations Research Paper Example | Topics and Well Written Essays - 1250 Words)
“Case Study on Operations Research Paper Example | Topics and Well Written Essays - 1250 Words”, n.d. https://studentshare.net/finance-accounting/54604-case-study-on-oprations.
Lastly, the paper provides recommendations for Nike as how they should move forward by implementing operations management tools. Jeff Ballinger’s Argument against Nike Jeff Ballinger, Director of the American Free Labor Association (AFLA), raised an argument against Nike that it pays low wages to its labor and provides poor working conditions which have negative influence on their health.
This means that any business enterprise seeks to draw as many customers as possible towards its business activities and operations. In this line, companies establish customer services to ensure that the concerns of customers are addressed from time to time in order to establish a substantial customer base.
While analyzing the current global market economy, it is clear that government intervention is necessary to ensure a sustainable market place. Government regulations on mergers are essential to maintain the balance of market environment since mergers between corporate giants often raise potential challenges to small-scale players and, thereby, they are eventually thrown out of the market.
It would, however, be noted that in a typical society (and a competitive one for that matter) like the United States, the work and regulations of financial organizations are mostly focused on the creation of commercial value. For this reason, Timberland is faced with the task and challenge of fusing commercial wealth and creation of social justice together.
After a number of acquisitions, Albemarle Corporation became an independent, publicly traded company in 1994. The company abandoned its paper manufacturing operations completely by 1976 and focused more on chemical products. Currently, the company has presence in over 100 countries and it has nearly 4000 employees as of 2010 data.
On the other hand, inter-enterprise processes refer to related and structured tasks or activities distributed over two independent organizations/departments. For this reason, the control of inter-enterprise process is non-centralized. In addition, inter-enterprise processes have a heterogeneous organization environment across the various organizations departments in a single entity.
How can hospitals overcome challenges in supply chain management? What are the alternative solutions to this question? Health care institutions have great volumes of procurement procedures. Medical institutions survive by the supply of medical supplies in the organizations.
ative that all parties are involved in the making of the rules in order to avoid legal battles that may challenge the new rules even if they are meant to be for the good of the organization. The legal battles that the Federal Aviation Administration is embroiled with in this
s and sales and being replaced by a three-tied pricing mechanism, creation of new logo, redesigning stores aimed at a year attainment of 100 mini-stores at each J.C Penney (Gilbertson, Mark & Daniel 127). This never yielded any benefits but followed by immediate loss of 25%
The company values its employees and has undertaken several measures for the welfare of employees as well as organizational development. The bank has a well-structured development program where employees are guided through learning road maps for initial
3 Pages(750 words)Research Paper
GOT A TRICKY QUESTION? RECEIVE AN ANSWER FROM STUDENTS LIKE YOU!
Let us find you another Research Paper on topic Case Study on Operations for FREE!