The Management Of Cobb And Douglas Ltd Are Trying To Work Out If They
The management of Cobb and Douglas Ltd are trying to work out if they should expand their business. Their accountants and engineers have provided them with details of their company which they are working through to make a capital investment decision. The engineers have informed them that the overall production structure of the company can be described by y = 4K1/2L 1/2 , where y is output, K is capital, Tutorials: Week 4 1 Due: Friday, 16 August and L is labour. The engineers also report that this implies that: MPK = 2L 1/2 K1/2 . The managers have a statement from the company’s accountants reporting that the price of capital is currently $50 per unit, the price level is 8, the rate of depreciation is 20%, the current real interest rate is 3%, and the firm currently owns 64 units of capital, and employs 25 hours of labour input. [Ref: M 508-521, Notes 3-3] a) If you were one of the managers trying to maximise Cobb and Douglas Ltd’s profits would you want to alter its current capital stock, and if so, in what direction? Explain your answer. b) Say that in a subsequent meeting reviewing the original decision, that managers now know that the research and development work of the engineers of Cobb and Douglas has recently led to a technological innovation that means that the company can produce more output with the same level of resources. The engineers report that the overall production structure of the company can now be described by y = 6K1/2L 1/2 and MPK = 3L 1/2 K1/2 . Would the managers’ decision in a) change? What would the explanation would they give for changing or not changing their decision? c) Last year, the Reserve Bank repeatedly cut the Official Cash Rate in an attempt to prevent an economic recession in New Zealand. Would this make the decision reached about how much to invest or disinvest in Cobb and Douglas Ltd’s capital seem wise in retrospect?
Using Information Is A Dynamic Process With Various Actions Following In A Logical
Using information is a dynamic process with various actions following in a logical way. One of the major information literacy process models is the BIG 6 MODEL PROCESS. You are expected to follow the BIG 6 MODEL PROCESS to find, locate and apply information in one of your subject specialization. My subject specialization is Economics and Business studies 100 marks
BACKGROUND Throughout The United Arab Emirates (UAE), Du Telecom Provides Mobile And Fixed Telephony,
BACKGROUND Throughout the United Arab Emirates (UAE), Du Telecom provides mobile and fixed telephony, broadband connectivity and IPTV (Internet Protocol Television) services to people, homes, and businesses. When it opened for business in 2006, the company boldly entered what was already a saturated market with 100% penetration. Although du Telecom recognized that the telecom industry in the Arabian Gulf is fast growing and that the company would face ever increasing competition, it approached the market as an opportunity rather than an obstacle. Within four years, Du Telecom had acquired almost 40% of the region’s mobile market share and was maintaining an annual growth rate of more than 32% in a saturated market. Established in 1987, Huawei is a global leader of ICT solutions and the largest telecommunications equipment maker in the world. Their telecom network equipment, IT products and solutions, and smart devices are used in 170 countries and regions. In 2013, Du Telecom signed a Memorandum of Understanding (MOU) with Huawei Technologies Co. Ltd., a Chinese multinational networking and telecommunications equipment and services company. With this understanding, du and Huawei are working together to better define the best practices in portfolio and project management concepts, processes and techniques for their industry, including knowledge transfer and research. Du and Huawei are operating what they term a “distributed Project Management Office” in two countries. This requires that both understand how a Project Management Office (PMO) functions in that type of environment. The two companies decided to work together to exchange best practice industry methodologies, concepts, tools and techniques, while also better defining best practice portfolio management concepts, processes, and techniques. THE CHALLENGE Du Telecoms knows that every project takes place in a specific context, be it a stand-alone project or part of a greater program, or one among a portfolio of projects. A project may also involve a team whose members have never worked together before, and it may require assigning responsibilities and roles to people who are new to them. All of these factors are identified and considered as part of a project. With all of these considerations in mind, du was looking for partners who could help them overcome these challenges. This provided the trigger to initiate an engagement with Huawei. In a region marked by fierce competition, telecom operators contend with constant change and long-term uncertainty. One key shortcoming that du explored for surmounting these challenges was the role of project leadership—a capability that delegates and facilitates faster decision making and improves time to market. THE SOLUTION Project leadership is a skill that requires time to develop—in a person or an organization. Achieving success requires an analysis of setbacks and failures as a roadmap for improvement. Focusing on each project’s challenges and learning from them helps build a more successful project management capability. PMI’s in-depth report “Capturing the Value of Project Management Through Knowledge Transfer” reveals that while capturing lessons learned is critical, what an organization does with that knowledge once it is captured, is equally important. As part of the MOU, Huawei and Du Telecoms work together to improve project management practices between the two companies through knowledge sharing, exchange visits, and other forms of collaboration. Having robust project management capabilities gives decision makers real-time visibility on project health, trends on investment returns, and the appropriate control to enable decision making that reduces uncertainty and opens up opportunities. As part of the process, du and Huawei use the Organizational Project Management Maturity Model (OPM3) model to accomplish management and control. Organizations turn to OPM3 because it helps them bridge the gap between strategy and individual projects. It provides a way to advance strategic interests through the application of project management principles and practices. This generates consistently successful, high-quality projects that achieve their goals in a timely manner. KEY ACHIEVEMENTS As a result of their collaboration, both companies report a reduction in project failure, an appropriate level of quality, and results that meet requirements and customer expectations. Both were also able to free up staff for other assignments and increase efficiency both on the project and within the business, making things simpler and easier for staff. Du and Huawei instituted a single point of contact responsible for the management of an overall project. This produces consistent communications among staff and suppliers and also keeps costs, timeframes, and resources within budget. Finally, robust project management practices are all about managing customer expectations with a customer-centric vision. Within the du Telecom–Huawei collaboration, project management practices touched upon the DNA of the telecom business, which is customer experience. Project management became the enabler for that customer experience. Question With the aid of a diagram discuss the different stages project initiation stage, planning stage, execution stage and closure of the project lifecycle that Du Telecoms and Huawei would undergo to successfully deliver their projects ?
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“If You Change The Way You Look At Things, The Things You Look At
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