Category: Management Science

The economic prosperity of a nation is conceded with the aggregate demand. According to economists, the higher the period of aggregate demand higher the economic prosperity can be perceived in a nation. On other hand, lowering the phase of aggregate demand would lead to perceiving economic crises. Aggregate demand contributes significantly to the GDP growth of any nation around the globe. Aggregate demand is composed of four components, in a short version, these components are known as the composition of CIGX. Thus, researchers draw an equation of the aggregate demand…

The Minimum Wages (MW) were practically executed at the start of the 19th century. According to the IMF working paper, currently, 90% of all countries and their governments have legalized the laws for MW within their economies. However, the fundamentals to define their roles in all countries varies i.e. in most of the Developed Countries (DCs) the MW is set on an hourly basis and in ‘under’ or ‘Less Developed Countries (LDCs)’ it is set on a monthly basis for all workers. The minimum wage is the lowest possible wage…

Most of the French brands have faced certain challenges in order to survive in the French market. Following are the brands that adopted several different strategies which made them successful in the market. Hermes Paris is ranked the world’s most luxury brand which manufactures luxury goods. The brand has achieved iconic status in luxury goods and its product range includes leather goods, accessories, furniture, fragrances, watches, jewellery etc. However, Hermes’ brand strategy is consistent and revolves around several components. Creativity Every year the company provides a theme to their designers…

In 1911, Frederick Winslow Taylor published his now-famous book, “The Principles of Scientific Management.” The book is a detailed examination of how scientific management can be used in businesses to increase efficiency, productivity and profits. Taylor’s principles of scientific management are still relevant and applicable today. They include the concepts of division of labour, standardisation and the use of time and motion studies. By following these principles, businesses can improve their operations and become more profitable. Outline 1. Introduction 2. What is Taylor’s Principles of Scientific Management? 3. How can…

ASOS is a private limited company registered in the United Kingdom and mainly deals in fashion and designing for both males and females.  It was founded in 2000 by Icelandic entrepreneur and CEO Nick Robertson. According to the company website, ASOS Plc is headquartered in London, with stores across the United Kingdom and internationally. The company’s strategy is based on what it calls “the red ocean” (vs “the blue ocean”), which refers to the idea that there are two types of oceans: the red ocean, where companies struggle to survive…