Learning Team Deb discussed the training objectives provided for Week 3. Each Part of the team posted a response to three educational questions posted by the Crew Leader.
During week 3 The Team Users felt confident with different topics. Sherly, Donna and Katrina all sensed the most comfortable with the matters dealing with Technology, R & D, and Efficiency that were covered in chapter 11W. Sherly identified the topic of technology the most interesting because it enables people to imagine up of a thought, experiment with that and develop it before finally producing it together with the intent of putting it on the market and earning a lot of profits. A good example of invention at work is a Tv program on DASAR called Shark Tank wherever inventors present their technology to associates of the -panel who will be entrepreneurs/potential shareholders with the purpose of providing a percentage with their business or product.
Donna felt that the chapter was an easy read and was more of a assessment on how businesses stay rewarding and feasible. From this phase Andrea could learn that creating a fresh product with the optimal cost is the key to success. Katrina was many interested in Technological Advance and Efficiency section covered inside the chapter.
The very fact that enhancing ones technology can also play a role in economic effectiveness was something that Katrina located interesting. Tag was at ease with all the topics covered in week 3 and especially appreciated learning even more about right after in operating in a monopoly, monopolistic competition, and a great oligopoly. Danielle felt beloved with the means of supply and demand and just how it performs an important part in the economy. Danielle feels that understanding how the supply and require process performs is beneficial and can be used to assess decisions regarding prices and quantity. Pertaining to Danielle having Learning Staff D struggled with different issues that were protected during week three.
Sherly struggled with Exploiting University and Federal government Scientific Analysis. Sherly thought that all any product or potential product created by someone or users of an firm could be branded. Andrea found it hard to understand visual presentations of the info by the model graphs. Andrea considered very little to be a visual learner but cannot manage to understand the graphs given. Katrina, like Andrea, found it tough to follow the examples provided within every chapter but the reason behind her confusion handled actually having the ability to match the example towards the reading.
Katina felt that having to change back and forth when reading to suit the case that was given within the browsing caused her to not fully understand what the case in point was looking to get across. Nonprice barriers to entry was your topic that Mark believed the most uncertain about this week. Mark discovered it tough to seem beyond the numbers when ever analyzing a thing.
Danielle had trouble with charges decisions, price elasticity, inelasticity, and suppleness of require. The differences in monopolies and oligopolies was obviously a bit of a struggle for Danielle but the examples that were provided within the reading helped her to grasp the knowledge better. Every Team Member managed relate issues of the week to their organization’s field of business. Sherly works as an underwriter intended for an insurance carrier which provides wellness, life and disability insurance products and services. Reduced cost via procedure innovation was the topic that Sherly believed related to Underwriting.
Sherly and her staff are always looking for ways to change/update techniques, reduce transformation times between receipt of the application pertaining to life/disability insurance coverage request to making the final determination whether to approve, delay or decline a file. For example, the introduction of a new system exactly where applicants can go online to make use of and with regards to the information moved into and the volume being requested, a dedication can be done immediately. This new system saved the company both money and time.
We do not have to go through the omission process with this system seeing that every problem must be clarified for the web application being processed. When ever, we have to give applicants omission letters, the complete process usually takes longer seeing that we have to wait to receive the missing data back from your applicant prior to the application can be processed. Hazel works in the finance sector for a great airport. Donna was able to apply the topic of mergers the most to my daily business discipline.
At the international airport, the air carriers and car rental agencies put together resources frequently. Department of Justice generally gets included in these types of mergers to prevent monopoly behavior. For example , American and US Breathing passages are currently under review and comment period for their merger. In addition to combining ticketed counter space, it is anticipated that entrance will be mixed as well. The airport will lose money for the merger nevertheless customers is going to benefit from reduce fares.
The greater customers that fly is likely to make up for the shortfall in revenue for space hire lost by the airport. Katrina works in the field of Worker’s Payment as a Statements Assistant. The topic of invention related the most to the type of work Katrina truly does at her job.
Everyday new claims are called in to her office on a daily bases and the way in which these calls will be entered into the machine must be useful. Katrina and her group at her office developed new system for going into a new declare that is called into the workplace. Mark corelates the topic of the majority of cost control and applying developing technologies to lower expense to his field. That may be an area were constantly aiming to improve upon perhaps the ideas are derived from our personnel or coming from outside we and we exercise a plan to implement these to help each of our business.
Each of our franchise site does not develop technology nevertheless we have the opportunity to seek technology to increase the efficiency of your workers and also help save costs. Danielle works as a project administrator for a power efficiency asking agency. Being a project administrator Danielle’s part is very significant in cash strategy for a job for they is the person who determines the project costs and job budgets consistent with the stakeholder’s specifications and resources.
Spending budget allocation, works with the project stakeholders and project economical coordinators to generate a sensible price range plan which will sustain the complete project in most of their phases. Using cost control measures to insure they can be staying inside budget, as we understand the importance of increasing earnings and staying inside budget. Income management is definitely integral into a company’s long lasting strategy; without adequate profits administration, the organization may not be about long enough to implement it is operating strategies. Each member of the Learning Team experienced a learning curve for Week Three.
Sherly learning contour increased a bit during this week. The additional information on monopoly provided Sherly with additional information that helped her better understand what was taught in week two. The very fact that certain opics such as monopoly, oligopoly, growing process and long term, are becoming covered more in depth has additionally helped to improve her learning curve. Andrea’s still struggles with the charts presented which represents the demand curves.
The economy of scale section has also been a struggle for her this week but Hazel has gone over the text during these sections too many times for a better understanding. To increase her learning curve she finds that the lectures given by our trainer breakdowns the topics towards a more day to day structure for easier comprehension. This week Katrina’s learning curve increased because she started to experience more comfortable while using terms and having a section that was easy to read through and understand produced her truly feel more relaxed with learning new Monetary information.
Mark’s learning curve for this week was changing his emphasis to look at real picture items applying more theoretical concepts rather than concrete figures. Mark loves the challenge that may be presented by utilizing a different way of analyzing what will impact a business from a market structure perspective which will still increase his learning contour. Danielle seems that she’s beginning to understand the importance of Economics and how that relates to more than just money. Danielle hopes to still improve her understanding of the mathematical equations and graphs representing require curves as the week’s progress.
Since the weeks go by the team still struggles with a few concepts but as they moves forwards they are growing and getting an improved hold on the topics which can be covered on a week to week angles.
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