The Dixie Group - a case study Essay Example | Topics and Well Written Essays - 2000 words

The Dixie Group - a case study - Essay Example The Familytique, the Peppercorn Cottage and the Michaelmas house too need to integrate their sales activity as they come under the shops category. The market square which is a public place for the traders which happens every Wednesday, they book their stall in advance. The payments collected from them should be properly listed and receipts are given in return. These should be integrated using program based information system. The management information system provides information to support management decision making. Pre-specific and pre-planned reporting to managers is accomplished by information reporting systems. Support for managers is accomplished by decision support systems. Information for top management is provided by executive information system. The information system provides information on the operations of the system to management for the direction and maintenance of the system (control). It is important to understand information system in the context of their use in information processing, which is also called data processing. â€Å"an information system uses the resources of hardware (machines and media), software (programs and procedures), and people (specialities and end users) to perform input, processing, output, storage and control activities that convert data resources into information products.† (James A. O’Brien). Thus the information system performs operational, managerial, and strategic support role in the business. These need to be a good information system to integrate the business activity to achieve the goals. The operations information system uses the data generated by and used in business operations. That is, it record and process data update it and produce it into reports. Physical processes are controlled by process control system and office activities are supported by the office automation system. This would help the organisation to achieve an organised

Business Economics Essay Example | Topics and Well Written Essays - 1500 words - 2

Business Economics - Essay Example In fact the choice problem of the monopolist is to choose the per-unit price and quantity of output to maximise profits. This is achieved by producing that level of output (Qm) for which the MC = MR (with the MR being intersected by the MC from below as a second order condition). The price charged will be Pm as it can be seen from the demand curve that it is what the consumers shall be willing to pay for each unit if Qm is the available output in the market. Here the profit level shall be supernormal (represented as the shaded area in the diagram) i.e, over and above the normal profits. The absence of close substitutes allows the monopolist to charge a price high enough that ensures supernormal profits. However one should note that the monopolist can actually be bearing losses as well in the short run. This occurs simply if the AC corresponding to the profit maximising output lies above the corresponding price. In this case however the short run problem for the monopolist becomes one of minimising the loss. However, a firm will go on operating in a monopoly market through the long run if only he earns positive profits. Such profits can be sustained in the long run since in spite of the supernormal profits that may act as incentives to new firms, the barriers to entry are assumed to be strong enough to prevent new entry in a monopoly market structure. In the long run, the equilibrium condition is LMC = MR with the MR curve being intersected from below by the LMC curve. However the monopolist is limited in hiking the pricing over a certain extent as the negative income effect it generates may cause consumers to move on to substitute goods and thus causing a loss in revenue. However as long as the monopolist produces the profit maximising output and charges the corresponding optimal price, he/she shall be earning supernormal profits in the long run as well. Oligopoly is a type of