Here is the synopsis of our sample research paper on Managerial Economics. Have the paper e-mailed to you 24/7/365.
Essay / Research Paper Abstract
This 5 page paper answers a set of questions about managerial economic. Then first looks at why it may be motivating to pay staff with reference to their productivity. Economic Darwinism is summarized. The reasons behind the failure of Barings Bank is discussed as well as why customers in restaurant tip if they are only acting in self interest, the returns that may be gained on an investment and finally, how staff may be persuaded to give more administrative data to help with costing when they do not feel it is in their interests.
Page Count:
5 pages (~225 words per page)
File: TS14_TEmanecqu1.rtf
Buy This Term Paper »
Unformatted sample text from the term paper:
It has been noted by many theorists that people will work in the own best interests, By creating a system where the employees are paid more the greater the number
of calls they answer there is a motivations to take more calls. To take more calls the employees will have to become more efficient, which may help the customers, but
more importantly, by becoming more efficient they see a personal benefit, the employees will undertake an internal cont benefit analysis for the cost of their time and realise that they
can maximise their gains. There are also incentives for the company, the marginal cost of paying employees more for answering more calls is less than the cost of paying more
employees less to answer the same number of calls due to the higher fixed costs that are incurred with the employment of a new member of staff. There is
also a danger that this may motivate poor work practices to get through the calls more quickly, however, this where this occurs the employee is unlikely to remain n their
job without any reprimand, as such the risk of this is minimal as long as there is some level of quality control in place. Question 1.3; Economic Darwinism
When Darwin developed his theory of evolution he described it as the survival of the fittest. Economic Darwinism may be seen as the equivalent in the commercial world, where to
survive a company has to make a profit. However just as organisms and creature in nature may be competed for limited resources, the businesses are competed for limited custom. those
that are most efficient will gain the custom and create a profit within the competitive forces, those that are the weakest will not create a profit. The result is that
...