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Diseconomies Of Scale
In microeconomics, diseconomies of scale are the cost disadvantages that economic actors accrue due to an increase in organizational size or in output, resulting in production of Product (business), goods and Service (economics), services at increased average cost, per-unit costs. The concept of diseconomies of scale is the opposite of economies of scale. It occurs when economies of scale become dysfunctional for a firm. In business, diseconomies of scale are the features that lead to an increase in average costs as a business grows beyond a certain size. Causes Communication costs Ideally, all employees of a firm would have one-on-one communication with each other so they know exactly what the other workers are doing. A firm with a single worker does not require any communication between employees. A firm with two workers requires one communication channel, directly between those two workers. A firm with three workers requires three communication channels between employees (betwee ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Buick
Buick () is a division (business), division of the Automotive industry in the United States, American automobile manufacturer General Motors (GM). Started by automotive pioneer David Dunbar Buick in 1899, it was among the first American automobile brands and was the company that established General Motors in 1908. Before the establishment of General Motors, GM founder William C. Durant had served as Buick's general manager and major investor. With the demise of Oldsmobile in 2004, Buick became the oldest surviving American carmaker. Buick is positioned as a premium automobile brand, selling vehicles positioned below the flagship luxury Cadillac division. History Early years Buick is one of the oldest automobile brands in the world and is currently the oldest in the United States still active today. Autocar Company, Autocar, founded in 1897, is the oldest motor vehicle manufacturer in the western hemisphere; while originally an automobile maker, Autocar now builds heavy trucks. ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Minimum Efficient Scale
In industrial organization, the minimum efficient scale (MES) or efficient scale of production is the lowest point where the plant (or firm) can produce such that its long run average costs are minimized with production remaining effective. It is also the point at which the firm can achieve necessary economies of scale for it to Perfect competition, compete effectively within the market. Measurement of the MES Economies of scale refers to the cost advantage arise from increasing amount of production. Mathematically, it is a situation in which the firm can double its output for less than doubling the cost, which brings cost advantages. Usually, economies of scale can be represented in connection with a cost-production elasticity, ''Ec''. :Ec = \frac. The cost-production elasticity equation can be rewritten to express the relationship between marginal cost and average cost. : Ec = \frac = \frac = Marginal Cost(MC)/Average Cost(AC) The minimum efficient scale can be computed by equa ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Ringelmann Effect
The Ringelmann effect is the tendency for individual members of a group to become increasingly less productive as the size of their group increases.Forsyth, D. R. (2009). ''Group dynamics'' (5th ed.). Pacific Grove, CA: Brooks/Cole. This effect, discovered by French agricultural engineer Maximilien Ringelmann (1861–1931), illustrates the inverse relationship that exists between the size of a group and the magnitude of group members’ individual contribution to the completion of a task. While studying the relationship between process loss (i.e., reductions in performance effectiveness or efficiency) and group productivity, Ringelmann (1913) found that having group members work together on a task (e.g., pulling a rope) actually results in significantly less effort than when individual members are acting alone. Ringelmann discovered that as more and more people are added to a group, the group often becomes increasingly inefficient, ultimately violating the notion that group effor ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Brooks's Law
Brooks's law is an observation about software project management that "Adding manpower to a late software project makes it later."Frederick P. Brooks, Jr. ''The Mythical Man-Month''. 1995 975 Addison-Wesley. It was coined by Fred Brooks in his 1975 book ''The Mythical Man-Month''. According to Brooks, under certain conditions, an incremental person when added to a project makes it take more, not less time. Explanations According to Brooks himself, the law is an "outrageous oversimplification", but it captures the general rule. Brooks points to the main factors that explain why it works this way: # It takes some time for the people added to a project to become productive. Brooks calls this the " ramp up" time. Software projects are complex engineering endeavors, and new workers on the project must first become educated about the work that has preceded them; this education requires diverting resources already working on the project, temporarily diminishing their productivity while ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Business Processes
A business process, business method, or business function is a collection of related, structured activities or tasks performed by people or equipment in which a specific sequence produces a service or product (that serves a particular business goal) for a particular customer or customers. Business processes occur at all organizational levels and may or may not be visible to the customers. A business process may often be visualized (modeled) as a flowchart of a sequence of activities with interleaving decision points or as a process matrix of a sequence of activities with relevance rules based on data in the process. The benefits of using business processes include improved customer satisfaction and improved agility for reacting to rapid market change. Process-oriented organizations break down the barriers of structural departments and try to avoid functional silos. Overview A business process begins with a mission objective (an external event) and ends with achievement of the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Unionized
A trade union (British English) or labor union (American English), often simply referred to as a union, is an organization of workers whose purpose is to maintain or improve the conditions of their employment, such as attaining better wages and Employee benefits, benefits, improving Work (human activity), working conditions, improving safety standards, establishing complaint procedures, developing rules governing status of employees (rules governing promotions, just-cause conditions for termination) and protecting and increasing the bargaining power of workers. Trade unions typically fund their head office and legal team functions through regularly imposed fees called ''union dues''. The union representatives in the workforce are usually made up of workplace volunteers who are often appointed by members through internal democratic elections. The trade union, through an elected leadership and bargaining committee, bargains with the employer on behalf of its members, known as t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
STEM Fields
Science, technology, engineering, and mathematics (STEM) is an umbrella term used to group together the distinct but related technical disciplines of science, technology, engineering, and mathematics. The term is typically used in the context of education policy or curriculum choices in schools. It has implications for workforce development, national security concerns (as a shortage of STEM-educated citizens can reduce effectiveness in this area), and immigration policy, with regard to admitting foreign students and tech workers. There is no universal agreement on which disciplines are included in STEM; in particular, whether or not the ''science'' in STEM includes social sciences, such as psychology, sociology, economics, and political science. In the United States, these are typically included by the National Science Foundation (NSF), the Department of Labor's O*Net online database for job seekers, and the Department of Homeland Security. In the United Kingdom, the socia ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Anti-competitive Practices
Anti-competitive practices are business or government practices that prevent or reduce Competition (economics), competition in a market. Competition law, Antitrust laws ensure businesses do not engage in competitive practices that harm other, usually smaller, businesses or consumers. These laws are formed to promote healthy competition within a free market by limiting the abuse of monopoly power. Competition allows companies to compete in order for products and services to improve; promote innovation; and provide more choices for consumers. In order to obtain greater profits, some large enterprises take advantage of market power to hinder survival of new entrants. Anti-competitive behavior can undermine the efficiency and fairness of the market, leaving consumers with little choice to obtain a reasonable quality of service. Anti-competitive behavior refers to actions taken by a business or organization to limit, restrict or eliminate competition in a market, usually in order to ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Microsoft
Microsoft Corporation is an American multinational corporation and technology company, technology conglomerate headquartered in Redmond, Washington. Founded in 1975, the company became influential in the History of personal computers#The early 1980s and home computers, rise of personal computers through software like Windows, and the company has since expanded to Internet services, cloud computing, video gaming and other fields. Microsoft is the List of the largest software companies, largest software maker, one of the Trillion-dollar company, most valuable public U.S. companies, and one of the List of most valuable brands, most valuable brands globally. Microsoft was founded by Bill Gates and Paul Allen to develop and sell BASIC interpreters for the Altair 8800. It rose to dominate the personal computer operating system market with MS-DOS in the mid-1980s, followed by Windows. During the 41 years from 1980 to 2021 Microsoft released 9 versions of MS-DOS with a median frequen ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Polaroid Corporation
Polaroid Corporation was an American company that made instant film and cameras, which survives as a brand for consumer electronics. The company was founded in 1937 by Edwin H. Land, to exploit his Polaroid (polarizer), Polaroid polarizing polymer. Land and Polaroid created the first instant camera, the Land Camera, in 1948. Land ran the company until 1981. Its peak employment was 21,000 in 1978, and its peak revenue was $3 billion in 1991. Polaroid Corporation declared bankruptcy in 2001; its brand and assets were sold off. A successor Polaroid company formed, and the branded assets changed hands multiple times before being sold to Polish billionaire in 2017. This acquisition allowed Polaroid B.V., Impossible Project, which had started producing instant films for older Polaroid cameras in 2008, to rebrand as Polaroid Originals in 2017, and eventually as Polaroid in 2020. Since the original company's downfall, Polaroid-branded products in other fields, such as LCD televisions a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Appeal To Tradition
Appeal to tradition (also known as ''argumentum ad antiquitatem'' or ''argumentum ad antiquitam'', appeal to antiquity, or appeal to common practice) is a claim in which a thesis is deemed correct on the basis of correlation with past or present tradition. The appeal takes the form of "this is right because we've always done it this way", and is a logical fallacy. The opposite of an appeal to tradition is an appeal to novelty, in which one claims that an idea is superior just because it is new. An appeal to tradition essentially makes two assumptions that may not be ''necessarily'' true: * The old way of thinking was proven correct when introduced, i.e. since the old way of thinking was prevalent, it was necessarily correct. :In reality, this may be false—the tradition might be entirely based on incorrect grounds. * The past justifications for the tradition are still valid. :In reality, the circumstances may have changed; this assumption may also therefore have become u ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
