This builds the way future generations come and can be the stepping stone for new markets. Bringing the poverty struck people up the economic ladder is done by imparting education and training them for industry requirements. The structure of training can be very old school for developing or under developed countries. To bring better experience in these places Hyundai has new frameworks for training the people out there. Hyundai can also bring these into its advantage with much appreciated corporate image which in the long run can lead to increase in sales for the company.
In order to maintain their net earnings, the business look for a number of alternatives, that includes cutting employment and making other similar decisions. Thus the results that policy makers expect form the fixation of minimum wages doesn’t turns out to be the same due to the behavioural responses of the employers. The supporters of minimum wage imposition believes that minimum wage imposition is the technique to boost the incomes of full time adults who belong to low income families in order to better off their situation. But in contrast to the assumptions, in reality the data indicates that mostly the part time workers are young workers and are generally not from the low income background. Hence the policy ends up resulting in creating
If labor market has no restrictions, the wage would adjust so that anyone willing to work could find a job. Small businesses would not be the ones that are most hurt and would not be forced to close down. Companies would not have to lay off employees and decrease hiring levels. Higher wage floor also disrupts economic system and causes a lot more of side effects that are very damaging to the market. I think every country should try balance the minimum wage levels to help to stimulate economic growth and keep all the citizens happy, including the poorest and most unskilled and create many job opportunities for them.
The research and development part is very important in every firm’s activities or businesses. It is because, from that it will helps them to improve their businesses and gained many profits from that. In a firm or company, research and development is something that is a must as they can create new thing like products, services and so on. Those thing need to be research well before it can be developed. It is because error might occurred if the firms or companies directly build the new develop products before making the research first.
• The supplier’s bargaining power is the existence of powerful suppliers that will minimize the profit potential in the industry. • The lecturer is one of the suppliers in UNIMAS. They provide the information to student (customer). • By increasing the number of students in UNIMAS and with limited trained members in faculty such lecturers will increase the supplier bargaining power. V. How can IS/IT substitute products or services?
Introduction 1.1 Local procurement is when a company or government gets people, goods/products, equipment, services and suppliers from a local source. Its main objective is to create business opportunities so that local companies especially SMEs can benefit. This also helps local companies to be competitive and profitable. The Local procurement accord was signed in 2011 by various stakeholders .In June 2014 the deputy president Cyril Ramaphosa reiterated the local procurement accord. The accord states that the government is setting itself a target of procuring 75% of goods and services from South African producers with the main aim of boosting the local economy and create job opportunities.
In particular, high population growth has resulted in higher levels of unemployment. The education system produces skills that are not valued by employers, while raising the expectations of those who acquire them. Consequently, the unemployed do not take up existing job vacancies, and employers are unwilling to hire available candidates (Njonjo, 2010). The mismatch is more marked for school leavers and graduates who have just finished school, partly providing an explanation for the high unemployment rate among youth and new entrants into the job market. The suggested remedy is to reform the education system and increase focus on technical education and vocational training, matching them to the needs of the job market (Coenjaerts et al.
Market research is actually an expensive process but is the most important process in starting a business because if an entrepreneur fails to identify opportunities, it is his whole career that is going to be affected. MIDA here provides information in selected markets depending on which sector the entrepreneur is, about the demand and needs of customers. MIDA also test the products of entrepreneurs in selected markets to see whether it is going to be marketable or not, this actually helps the entrepreneurs from investing in products or services that is going to
As the result, the rate of employment rise and more people have the chance to make a living. In addition, they also promote people’s ability of consuming. Thirdly, they pay the taxes for country every day in order that the economic can be improved. The most important thing is that their sprit can inspire more people to create their business in the country. Therefore, no matter the entrepreneurships use the direct ways or indirect ways, they make great contribution to the development of nation’s economic that we cannot
In my opinion, the government should always review the academic curriculum in polytechnic school and Universities to ensure that the students are able to cope with what they will be applying in their job in future. Government should give provide more chances to the industrial attachment students for them to gain some practical experiences before they start to work in society. . In conclusion, this report has analysis the development of economy in Malaysia. From the analysis shown, I believe that the economy of Malaysia will be enhanced and moves into next economy stage very soon in coming