Group Exercise

The first one - In order to prevent an epidemic ,a drugs company releases a new drug before it has been thoroughly tested.

Is that a ethical behaviour?Well I think this is a real problem may happened around us .So it is necessary to discuss about it . And Ethical behaviour is characterized by honesty, fairness and equity in interpersonal,professional and academic relationships and in research and scholarly activities. So to consider is that a ethical behaviour we should look at if that Honesty ? Fairness?or Equity ?

As we know the aim of the drugs company is to prevent an epidemic which is good for the society but the problem is the drug is new and it has not been thoroughly tested .That may led to some terrible results.Such as the drug may create more epidemic or after people eat this drug may have some bad effects.Therefore the company should not do that ,it is really not a expression of taking the responsibility of there customers and for the society as well.

So my conclusion is although they have a good purpose for doing that (to sell drugs before a thoroughly test) still it is not the ethical behaviour .Because they would not know what is going to happen after people eat the drug which means that they can not make sure the drug can prevent the epidemic.And they not even know is there any bad effects for people ... But just for their to make a profit they are going to sell the drug to people who believe them.So it is not honesty not fairness at all!

Therefore I say this case is not a ethical behaviour~

Dilemma 6 : The toaster

The case is : Sam 's live-partner has a taste in expensive nik-naks-things like toasters which burn an icon of the day's weather on the toast ,or solar-powered fountains for the garden pond.The toaster is in the cupboard as it always burnt the middle of the toast and under-did the rest,whilst the garden fountain clogged up after a day and sank to the bottom of the pond.

unsolicited ,a catalogue drops through the letterbox from a very fancy -and expensive -postal store ,computer-addressed to the partner.

And the question is SHOULD Sam quietly rid of it before they can be misled -or give it to them when they get home and wait for the next disastrous mistake?

If I was Sam I would rid it quietly because nobody wants their lives are be affected by others people.And to do this is good for his partner as well.It can make him do not waste his money to buy those rubbish stuff.Well I don't know if Sam like those things as well ,maybe he wouldn't!But just one thing I want to say nearly everyone is selfish... So...

But at the last I really do not know why is this relevant with business studies?... Well maybe I didn't understand enough .But that is my own view of this story. = =

The law of diminshing return

law of diminishing returns in economics, law stating that if one factor of production is increased while the others remain constant, the overall returns will relatively decrease after a certain point.

Thus, for example, if more and more laborers are added to harvest a wheat field, at some point each additional laborer will add relatively less output than his predecessor did, simply because he has less and less of the fixed amount of land to work with. The principle, first thought to apply only to agriculture, was later accepted as an economic law underlying all productive enterprise. The point at which the law begins to operate is difficult to ascertain, as it varies with improved production technique and other factors. Anticipated by Anne Robert Jacques Turgot and implied by Thomas Malthus in his Essay on the Principle of Population (1798), the law first came under examination during the discussions in England on free trade and the corn laws. It is also called the law of decreasing returns and the law of variable proportions.

About the price of oil

Oil prices slide on demand fears

Check the oil price Oil prices have fallen by almost $3 on fears that energy demand may not have recovered as much as thought. US crude was down $2.78 at $69.26 a barrel before recovering slightly while in London Brent crude went as low as $2.96 to $68.36 a barrel. A report by the Centre for Global Energy Studies said there was unlikely to be a sustained rise in prices until a global recovery was well established. Market participants were also nervous before this week's G20 meeting. The summit in Pittsburgh is likely to address whether further measures are needed to support the world economy, or whether stimulus plans can be withdrawn. "There will be little or no sustained upward pressure on oil prices until global economic recovery is firmly established and reviving oil demand begins to draw down bulging oil inventories," analysts at the Centre for Global Energy Studies said. "Even next year prices are unlikely to rise much unless clear signals emerge that the world is pulling out of recession in a sustainable fashion." Another report from energy information firm Platts also suggested that energy demand in China, the world's second largest consumer of oil, slowed in August.

The costs and benefits of High Speed Rail

A High speed rail is fit our modern lives .

So the benefits of having a high speed rail are obvious:

1. At the least it can helps to reduce the congestion .So for this reason here more benefits will include :

• less pollution -the number of cars emitting pollutants into the atmosphere will be less
• less waste -the petrol being used when cars are at a standstill and engines are being used inefficiently will be reduced
• And it can save time
• reduce the cost to the NHS of having to treat people with respiratory diseases
• Reduce The wear and tear on the road of the number of vehicles using them

2.More convenient for people who doesn't have a car.And it is much faster for a long distance travel then a bus or tube,etc.

3. Increase the productivity

The costs of having a high speed rail are obvious too:

1. A rail way cost huge land and plenty of time and a big amount workers to build and of course lots of money.

2.And it is produce another pollution called noisy pollution.

3.And have to build a station for it as well therefor need more labour so cost will be increase (but the benefit from this is the unemployment will be less which is good for our Economy especially when we have a situation during recession)

How can EF increase profit

When we consider about profit that really make me have to think about the formula : profit = total revenue - total cost .So to help EF to increase their profit we should consider as these two sides either increase total revenue or reduce the total cost .

Firstly let's say how to help EF increase their revenue, well there really are plenty of methods for increasing revenue.But in EF's case to expend the size of the business and the schools is quite important. Because EF is known as an international language school ,But actually it is a business on Education .And it is really a successful business cause it already become the No.1 language school all over the world .So which means the brand is famous enough to attract high quantity of demand .And why I said to expand the size of the schools is very important? Cause according my own experience to study in EF(when am in language cause I think the school is overcrowded especially in the summer time and I do not know others but in Oxford it is really too many people ~ )So I suppose that is really reduce our quality of life here therefore if EF wants a good reputation of this point they have to expand the size of school and it is better for get more students as well .So more space more services .
And the other importance is cause EF is dealing with international students so what they hope is the exchange rate can be cheaper ,therefore more students will come to study~ so their revenue will boom! Also the advertisements are quite significant for EF but I think EF's AD are perfect very attractive ~so which is good .And also I believe that is EF could offer more promotion the situation will be better .For example just say 1 more month course get 10% discounts.That is quite encouraging :P or to say if you study a 3 months course then the school will take you to travel to somewhere ,such as France...etc.. While anyway to increase the total revenue they have to attract more students more demand . And also they should try to find more investment as well.
And one thing I have to say it is now there are many competitors exist.EF should has some USP such as some special services or offer more language courses and more choice of languages Chinese, Japanese Spanish etc.But they already have their chain in nearly every countries which is very advance benifit~

OKAY then let us think about how to reduce the cost as well.First they could to reduce the labour cost I mean the better way to employ people for EF is to employ the students who wants to find a part-time job casue the wages will be much cheaper than the full time workers.And secondly redcue waste and they could buy the mass- products by much cheaper price but for a big amount.That is can help to reduce the cost as well.And dont rent the land in a central area otherwise it will be too expensive!

Over all there is just my personal views :P hopes it can help~

NEWS -Growth in UK retail sales stalls

Analysts had been expecting sales to rise
UK retail sales were unchanged in August compared with the previous month, casting doubt on the strength of the recovery in consumer spending.

Sales growth in July was also revised down, from 0.4% to 0.2%, the Office for National Statistics (ONS) said.

Food sales growth was more than offset by falls in clothing and footwear.

To add to the retail gloom, department store John Lewis announced a fall in profits and predicted tough trading conditions in the coming months.

Big falls

Retail sales rose by 1.3% in June, and analysts had been expecting a third straight month of growth to reinforce hopes that the UK was emerging from recession - as hinted by other data.


ANALYSIS

Hugh Pym, BBC chief economics correspondent
The latest news from the High Street suggests that shoppers are not rushing out to celebrate any recovery which may be in the offing.

There has been much talk about the recession ending and growth resuming. If it does, manufacturing will be the engine as exporters benefit from the weaker pound.

The retail sales figures showed no increase in August. The underlying trend - covering the latest three months compared with the previous period - showed only a marginal increase in the growth rate.

Many consumers are using extra cashflow from lower mortage rates to pay off debt.

Yes, the economic recovery may be underway. But you wouldn't necessarily know it from retailers. Growth in the third quarter of this year, if it materialises, may be marginal.

B&Q profits from increase in DIY
French Connection losses double

There were signs of growth in some sectors. August food sales rose by 0.7%, while non-store retailing - which includes internet, telephone and mail order shopping - and repair shops saw sales grow by 1.1%.

But this was not enough to offset bigger falls in other areas.

All non-food sectors, apart from household goods, suffered declines in sales. The worst hit were textile, clothing and footwear shops, where sales dipped 1.3%.

Department store John Lewis added to the downbeat retail outlook when it announced a 20% fall in profits for the first half of the year, and said it expected the coming months to be tough.

"We expect trading conditions for the remainder of 2009 , and into 2010, to continue to be difficult," said chairman Charlie Mayfield.

He forecast a "slow, drawn-out economic recovery."

Reflecting the growth the overall growth in food sales, however, the group did see stronger performance in its supermarket chain Waitrose.

'Cautious spending'

Earlier this month, figures from the British Retail Consortium (BRC) suggested that like-for-like retail sales - which do not include new stores - fell in August, by 0.1%.

"The official data confirms our own findings that the strong retail sales in June and July were not sustained," said BRC director general Stephen Robertson.

"With unemployment rates at 14-year highs and predicted to increase into next year, most people are still very cautious about spending on expensive items - unless there are sufficient discounts."

Separately, a survey from business group, the CBI, found that orders for UK manufactured goods remained weak.

Of the 555 manufacturers surveyed, 8% said orders were above normal levels, while 56% said they were below normal.

Export orders were particularly low, despite the relative weakness of the pound, the CBI said.

Rebooting Britain - 10 solutions

The fourth one -Reduce the national debt

There is always a budget deficit in the United Kingdom's Economy.Which is because the UK usually buy imports more than the exports they sale.And also they have a lot national debts maybe .So the organisation for Economic Co-operation and Development estimates that the UK national deficit will rise to 14 per cent in 2010 and it will become the highest in the western world .

And the UK decide to reduce the national debt.Cause they notice that if the scale of the debt burden will cause interest rates on government bonds to rise and making long-term inflation likely .And that will lead to many problems for example the pensions and savings may suffer unless the government raises taxes and makes big cuts in public spending .

So this is a quite serious problem .Then how can Britain reduce the national debt and to reduce the deficit? Maybe buy less imports and sell more exports is a good way.And they should do a financial plan for the UK.And really try to borrow less debt.But which means that money are there in the economy may be less.So if the government do not have enough money to spend the situation can be worse .SO still they will charge higher taxes and reduce the government spending etc.

Therefore the government really need to consider about how to deal with the national debt.

Question 2 of the case study

The corporate objectives of Sainsbury are try to increase their profit and to have more customers.

So it is clear that great food and fair prices ,growing supermarket space,active property management and so on they all can help .Then let's set the great food at fair prices at an example .People always want to buy high quality goods especially food .So if the food that we sell is very high quality it helps us to improve our reputation .And hopefully the sales will increase as well.And the fair price which means that the price is good for every levels people no matter are they rich or poor they can all have the good quality food .that's really help to improve our living stander and the ranges of customers will be wider .Therefore the amount of customers will increase which helps the Sainsbury achieve their corporate objective to get more customers .

But is that fair price means very cheap? So will us lose our profit in order to keep the price low.And if it is too cheap people (especially rich people )may think the quality is suffer.But still it is a good way to go I suppose .

And the plan of "channel growth through online and convenience expansion" is good as well.Because the market will be expend after that .And people will become more easy to buy things from the Sainsbury.So it Will has much better reputation.So the sales revenue may increase then the profit may also increase.

Another important thing is reduce the cost of course .We can try to reduce cost by reduce the labour cost and choose the good location but cheaper.And try to divide the big supermarket in to several little convenience shops i am not mean all I mean some just divide some big supermarket.Because then we do not need to offer the space for car park.Which could reduce our cost.

The Extra work

Economics is social science ,a study of people in society and how they interact with each other .Is it possible to use a scientific approach effectively in a subject that deals with human beings?


While actually I not very sure what is that asking about.But I think the answer should be "yes it is possible."

HEHEHEHEEEEEE~ someone tell me what should I answer for this question?...

Rebooting Britain - 10 solutions

The third one -End Britain's oil addiction

As we know oil is one of the scarce resource are there in the world .So using more and more oil is already become a serious problem for the world . And there are conflicts happens very often in the Middle East it is always because the oil dependency. So don't need I to say how important oil is cause everyone knows it !

And with our increasingly technologies the amount of oil that be used is also increasing. But we know that use oil too much won't give us any good results .For example cars use the petrol and then produce pollution that's a negative effect in our society .So Some people think about to invent electric cars to save the resource and create a green job .That is the main idea of the solution .

Of course it needs a huge amount money to get this done . Its need thousands millions pounds I suppose .And this is just a part of make a country going without oil.So in my own view it is too difficult to do. And the opportunity cost can be everything for example the government will spend less money on health care . And also now the price of oil already quite high that could reduce some of the demand .And I the other option is use the big amount money to do with the result after using oil.For example try to deal with the pollution.

I am believe that stopping use oil is a good thing .But we cant live without oil .We eat oil and we use it in every where.But the electric cars is a good idea and it is a huge process as well .The government have to spend lots of money .And they may find more problems than now they have .

So I think the best way is we do not waste the scarcity resource ! But really be serious if one day we don't have enough oil to be use that's may be the only option to continue our lives.

Rebooting Britain - 10 solutions

The second one ： revive the export economy


In the economy down turn.the prospects for Britain is to have more injection for the economy~ So what including in injection ? EXPORT ,INVESTMENT and GOVERNMENT SPENDING! So if there are more injection in the economy which is also means there are more money is coming into our economy.Which is a good thing to have .Therefore the idea of Krugman is let Britain to go back to produce manufactured goods and to sale more export to other countries to boost the economy in Britain. Yes this is a good idea actually say if Britain start to do the manufactured good is snot only can help to get more income and more GDP but also will reduce the import from other countries .That's can save a lot of money~

But the problem is,Is Britain really good at producing manufactured goods? For example China must be much cheaper to produce that kind of things because the low labour cost .But not in Britain.And if they start to produce the good now a lots of new firms need to be started up.And of course the government have to give subsidies to the factories .Although it is a injection but it still need to be consider very carefully by the government.And there will be many opportunity cost of doing this .And then continuing saying of the product to be produced in Britain.The price will be expensive to export I suppose ! As I said because the labour land and resource cost is maybe much high .

So what am I trying to say is if Britain start to produce the manufacture things it certainly could reduce the amount of the import but is not means that the export will increase as well.

marketing plan about the lapdesk

Because of Wendy drop business studies . So I have to do her job now !! Thanks Wendy~!!! Okay anyway~

The marketing plan :

If we have 25ooo pounds ,Firstly we should spend a lot about marketing for advertise our proudcts such as TV advertisement or....Though by segmenting the market in lifestyle ,it is believed that the students would be our main group of consumer since there are always not really enough writing space in the lecture and they are only ones who need to take notes everyday .However I don't really think most of them are willing to purchase the lapdesk according to their income but it will be totally different if we sell to their schools it will become an USP.so this is a good way make our price cheaper and sale more products.And in addition we could try to re-design our product maybe to combine the product to one for laptop .That may be a good idea and it will expand our market.So obviously that need some cost.

To sum up a big proportion of the 25000pounds will be used to identify anticipate and satisfy our targeted customers .

uhhhhhhhhhh... that is enough I think .

The works about lapdesk

My part of work was to analyse the competitors of this product.

So as I researched there are plenty of products named "lapdesk" exist in the market.Therefore if we consider the development of this product we have to think about the competitors are there in the market .To see if our product is unique or not .So let me just give an example of a product to compare with this "unique lapdesk business & leisure folder".

First i will tell the advantages of this lapdesk ,it is easy to use and can easy to provide a right angle to write that is really a good idea and also as folder some paper and pens can be put in of course .And I don't think it is heavy. That's the function of this product it is simple but quite useful for a lot situations .Then I want to talk about the design of this product, as we see the picture we could know it is all blank ,I mean if a group of people use it and give some label on it(for example EF School)is also a good way to advertise.And about the pricing of it ,if you buy more the price will be cheaper.
And some disadvantages here as well. I think the price for it is really high and it may update by high technology soon I mean people will use laptop maybe instead of handwriting.

So let's see another product which called lapdesk but it is do with the laptop .may be more people will think it is more useful for us .Anyway there are the advantages of them. Laptop is very widely used in our lives.So the product about laptop may have more market.This product I'm going to introduce is made by plastic so it is very light to carry and it is not big .As we know the laptop always provide heat so this product it is to help about reduce the heat. That is a quite useful function.And it has many angles as well which means can make people comfortable as well .And the price is much cheaper than that one .
But the disadvantages are it is just can be used for laptop .we can not use it to write .And the design of it is not as nice as the last one .

While ~ actualy I think they all have the same idea but may be different purpose.So which product is better that is really depends on who will use it! But if ask me to choose one I will think about the one for laptop using~

Announcement ! ~

Hey~ I am coming back to do this D-A-I-L-Y blog right now .I decide To do this not only for helping me to improve my poor English but also for my poor business studies .

I know I didn't get a good result for last exam but I believe that I will get a good result for the next exam . Which means of course I have to work harder on business studies and do a daily blog ~ hahaha~

okay~ then I will start my work today ! :)

Rebooting Britain - Analyse 10 solutions

The first one -Break up the banking system

The debate is about how long some of the banks such as RBS and Lloyds should remain nationalised? The idea for some people is,they want to sell off those national banks They look at the experience of other countries such as Japan ,Sweden...they think they will sell it eventually after a long time .
But others think that if the bank are controlled by the government the government will distribute the money,so the bank won't become too big to fail .

There are the ideas over all. But I suppose that may links to the credit crunch because some of the banks were use too much money that makes people lose their confidence then everyone starts to think to take their money out of the bank but what if the bank haven't got enough money the reason is they spent a big part of the money on somewhere ~ and many banks in different countries are also have no matter loans or debt so that makes credit crunch happens in ever where .

So that really is a bad example . So my view is to remain the national banks for keeping the stable of economic in own country.Especially after the credit crunch.And also controlling by the government is a good way to try to try to make the right decisions.But it also make our economic or business becomes narrowly. much money that makes people lose their confidence then everyone starts to think to take their money out of the bank but what if the bank haven't got enough money ~ and many banks in different countries are also have no matter loans or debt so that makes credit crunch happens in ever where .

So that really is a bad example . So my view is to remain the national banks for keeping the stable of economic in own country.Especially after the credit crunch.And also controlling by the government is a good way to try to try to make the right decisions.But it also make our economic or business becomes narrowly.