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Essay / Research Paper Abstract
This 5 page paper considers how different business concepts can help with the planning of a business. The paper uses the analogy of a business for a student planning their future career and examines the way the concepts of supply and demand, abnormal returns, cost benefit analysis and the development of competitive advantages will help with planning for the future. The bibliography cites 6 sources.
Page Count:
5 pages (~225 words per page)
File: TS14_TEappconc.rtf
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Unformatted sample text from the term paper:
that have been faced in the past and in the future. Looking at a career as a business the student is competing with a large number of other business, all
seeking to gain the best contracts, to create the biggest demand for their services and create a profit. There can be the use of a number of concepts that
can aid with the understanding of the past and the way practices may be altered in the future to maximize their potential. These include the concepts of supply and demand
as well as abnormal returns, the use of a cost benefit analysis and the development of competitive advantages with planning and differentiation. In any area of business there will always
be the pressures of supply and demand, in order to enhance the profitability the business will want to seek out areas where the demand exceeds the supply increasing the price
that is associated with the customers obtaining the goods or services. Where there is a shortage of supply then there will be an abnormally high price associated with the shortage
of supply. This itself will attract more suppliers to a sector or area of business, which increases the supply and drives the price down again. The key for a business
is to benefit from a time where there is the access of demand over supply is to be one of the suppliers that is able to benefit at the time
when there are abnormal profits (Nellis and Parker, 2000) Looking to the past of the student as a business, there has always been advice to develop essential skills that are
in demand, but there has been little attention paid to the skills and services that the student as a business will need to provide in the future. Planning ahead means
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