Globalization Is The Increasing Inter Connectedness Of...

1. Globalization is defined in the book as the increasing inter-connectedness of people and places through converging economic, political, and cultural activities. Cultures and countries are now linked much more than they used to be in the past as technology continues to grow. It s becoming cheaper and easier to set up technology in lesser developed countries as well as that it continues to grow in more developed countries. Fast food restaurants are now changing and transferring to other countries and changing the menu to the culture of that country in an attempt to make more money. These restaurants from America transferring to other countries are causing diets to become unhealthy much as they have in America. Most American s don t go a week without eating at some fast food restaurant. Western consumerist culture has also transferred. America is absolutely infatuated with spending to get what they think they need when in actuality they don t. Most scholars believe that economic orga nization is a large part of globalization. It includes global communications that link all people. It also includes better transportation systems, transnational business strategies, and promotion of free trade. There are many positives to globalization. One of which is more money being put into lesser developed countries. This is a plus because this causes people in those countries to be able to succeed and support themselves. Also governments of different countries can better work togetherShow MoreRelatedOne Significant Change That Has Occurred in the World Between 1900 and 2005. Explain the Impact This Change Has Made on Our Lives and Why It Is an Important Change.163893 Words   |  656 PagesDavid M. Scobey, Empire City: The Making and Meaning of the New York City Landscape Gerda Lerner, Fireweed: A Political Autobiography Allida M. Black, ed., Modern American Queer History Eric Sandweiss, St. Louis: The Evolution of an American Urban Landscape Sam Wineburg, Historical Thinking and Other Unnatural Acts: Charting the Future of Teaching the Past Sharon Hartman Strom, Political Woman: Florence Luscomb and the Legacy of Radical Reform Michael Adas, ed., Agricultural and Pastoral SocietiesRead MoreStephen P. Robbins Timothy A. Judge (2011) Organizational Behaviour 15th Edition New Jersey: Prentice Hall393164 Words   |  1573 PagesSuccessful Managerial Activities 8 †¢ A Review of the Manager’s Job 9 Enter Organizational Behavior 10 Complementing Intuition with Systematic Study 11 Disciplines That Contribute to the OB Field 13 Psychology 14 †¢ Social Psychology 14 †¢ Sociology 14 †¢ Anthropology 14 There Are Few Absolutes in OB 14 Challenges and Opportunities for OB 15 Responding to Economic Pressures 15 †¢ Responding to Globalization 16 †¢ Managing Workforce Diversity 18 †¢ Improving Customer Service 18 †¢ Improving People Skills 19 †¢ StimulatingRead MoreContemporary Issues in Management Accounting211377 Words   |  846 Pagesilluminate practice and to provide ways of improving it. Although always appealing to his economic understandings, he has been open to a wide variety of other ideas, recognizing their intellectual strengths and capabilities rather than making artificial distinctions between what is acceptable and what is not. He also has contributed widely to the accounting literature, taking forward the British tradition of economic theorizing in financial accounting as well as being a constant source of creative thinking

Police Body Camera Decline Police Brutality - 956 Words

Technological Era in Policing The dispute of police body cameras truly hit the media hard this week. Blasting from the headlines all citizens were aware that Michael Brown was lethally shot in Ferguson, Missouri. This prompted officers to become fortified with body cameras. This technologically progressive world that we live in today has shaped a world of tweeting, posting and uploading. It’s about time that police departments take advantage of the tools accessible to them, especially with the advancement of equipment. The move forward in technology will help to alleviate speculation on any misconduct perpetrated. There now will be hard honest evidence of any crime committed against a police officer. Does the body camera decline police brutality? Are body cameras more effective in urban or rural areas? Could these cameras decline corruption in policing? These are a few of countless questions that might be brought up about this newly relevant issue. Without even undertaking exploration on this subject you could question a sample of individuals these burning questions. I think that they would agree that it is a necessary evil when dealing with criminals. It’s logical to assume that your every move is being documented and you are theoretically always being â€Å"watched†, in saying that one will in turn do their career to the best of their capabilities. Its elementary science that the independent variable being the camera. The dependent variable is the logged evidence which isShow MoreRelatedPolice Body Cameras On The World870 Words   |  4 Pagesafter the camera s introduction, the use of force by officers’ decline 60%, and citizens’ complaints against police fell 88%†. (Christopher Mims) The introduction of police body cameras impacted the world in many better ways than bad. 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I wanted to do more investigating on this topic, since more cases of police brutality which have been recorded have be en surfacing on new outlets, to enlightenRead MorePolice Officers Under Surveillance By Michael Brown1730 Words   |  7 PagesPolice Officers Under Surveillance On a Saturday night in Ferguson, Missouri a 18-year-old named Michael Brown was walking home from stealing from the store and police officer named darren wilson was sent the description of michael brown and Dorian Johnson. Wilson backed up his police car in front of them to block them off their path then a confrontation happened between Brown and Wilson struggling through the window of the police vehicle. Then, Brown walked away from the car but turned around to

Econ 100a Midterm Free Essays

Econ 100A–Midterm 2 solutions. Thursday, March 22, 2012. True/False (2 questions, 10 points total) Answer true or false and explain your answer. We will write a custom essay sample on Econ 100a Midterm or any similar topic only for you Order Now Your answer must ? t in the space provided. T/F 1. (5 points) Suppose the government wants to place a tax on one of two goods, and suppose that supply is perfectly elastic for both goods. If the government wants to minimize the deadweight loss from a tax of a given size, it should put the tax on whichever good has worse substitutes. False: If the supply curves are identical, the only factor that determines the amount of deadweight loss is the elasticity of demand. Placing the tax on the good that has the lower elasticity of demand will minimize the deadweight loss of the tax. It is true that, holding all else equal, a good without good substitutes will have more inelastic demand than a good with good substitutes. However, this is not the only factor that determines the elasticity of demand. The goods could also di? er in terms of the income e? ect. If the good with worse substitutes happened to be strongly normal while the good with better substitutes was strongly inferior, then the income e? ects might overwhelm the substitution e? cts, causing the good with better substitutes to be more inelastic. T/F 2. (5 points) In a perfectly competitive market with no taxes, if the price consumers are willing to pay for the marginal unit is the same as the price at which producers are willing to produce the marginal unit, then there will be no way to make anyone in the market better o? without making someone else worse o?. True. The price consumers are willing to pay for the marginal unit is the height of the inverse demand curve, and the price at which producers are willing to produce the marginal unit is the height of the inverse supply curve. Thus, when these prices are equal, it must be the case that supply is equal to demand, which is to say, the market is in equilibrium. If the quantity ? rms produce, and consumers consume, is more than the equilibrium quantity, then the ? rms’ cost of production will be greater than the consumers’ willingness to pay, and either consumers will have to pay more than the units are worth to them, making them worse o? , or ? rms will have to receive less than the units cost them, making them worse o? , or both. If the quantity is less than equilibrium, then there will be units not produced or consumed for which the cost of production would have been less than consumers’ willingness to pay, meaning that either ? rms have given up pro? table units, or consumers have given up units that generated consumer surplus, or both. In any case, at least one side of the market will have been made worse o?. Thus, from equilibrium there is no way that either ? rms or consumers can be made better o? without someone being made worse o?. 1 Short Answer (2 questions, 20 points total) Your answer must ? t in the space provided. SA 2. 10 points) Explain what we mean when we say that ? rms in long-run equilibrium are earning zero pro? t even though their owners and investors are making an adequate return on their labor and investments. The statement refers to â€Å"economic pro? t†, which is the di? erence between revenue and opportunity cost. The opportunity cost of the labor of the owner of a ? r m is the wage the owner could have earned if he or she chose not to run the ? rm, but to get a job instead. The opportunity cost of the capital investors invest in a ? rm is the rate of return they could have earned by investing their capital in some other ? m in some other industry. Thus, if the owner of the ? rm receives an amount just equal to the opportunity cost of their labor, and the investors receive an amount just equal to the opportunity cost of their capital, we do not include those amounts in economic pro? t, and the ? rm will be said to be earning zero economic pro? t, even though an accountant would say that both the owner and the investors are making an â€Å"accounting pro? t†. The accounting pro? t earned by the owner and the investors is the amount of money that is just adequate to make them choose to put their labor and capital into the ? m. 2 Problem Solving (2 problems, 50 points total) Problem 1. (26 points total) Consider a perfectly competitive ? rm wi th a production technology 1 1 represented by the production function, y = 10 K 2 + L 2 . Let p, r, and w be the price of the ? rm’s output, the rental rate of capital, and the wage, respectively. (a) (8 points) First let’s consider long-run pro? t maximization. (i) Set up the ? rm’s long-run pro? t maximization problem and compute the ? rm’s pro? tmaximizing demand for labor and capital, and pro? t-maximizing output, as functions of p, r, and w. ii) Is labor a gross complement or a gross substitute for capital, or neither. Prove your answer mathematically and explain what it means. The long-run pro? t maximization problem is, max p  · 10 K,L v K+ v L The ? rst-order conditions are, 5p 5p for L: vL ? w = 0 for K: vK ? r = 0 Solving these for L and K respectively we get L? (p, r, w) = (f rac5pw)2 and K ? (p, r, w) = (f rac5pr)2 . Plugging these pro? t-maximizing levels of capital and labor into the production function we get the pro? t-maximizing output of the ? rm, y ? (p, w, r) = y(K ? , L? ) = 10 5p r 2 , 5p w 2 = 50p r+w rw . To determine whether labor is a gross complement or gross substitute for capital we take the partial derivative of the labor demand function with respect to the rental ? rate of capital, ? L = 0. Since this is zero, labor is neither a gross complement ? r nor a gross substitute for capital. What this means is that when the price of capital changes, the amount of labor the ? rm uses will not change. (b) (8 points) Set up the ? rm’s cost-minimization problem and compute the ? rm’s conditional demand for labor and capital, as functions of y, r, and w. The ? rm’s cost minimization problem is, v min rK + wL K,L K+ L =y ? s. t. 10 Setting up the LaGrangian function, this minimization problem becomes, min rK + wL ? ? 10 v K+ v L ? y ? v K,L,? The ? rst-order conditions are, 5 for L: w ? ? vL = 0 for K: r ? ? v5 = 0 for ? : 10 K the production constraint. v K+ L = y , which is just ? w 2 L. r Taking the ratio of the ? rst two conditions we get this into the production co nstraint we get, 10 3 v vK = w ? r L v v w r L+ L K= Plugging = y ? L? (y; r, w) = ? y2 r 10(r+w) 2 . Plugging this back into the expression for K that we derived earlier 2 w we get, K ? (y; r, w) = y 2 10(r+w) labor and capital respectively. These are the ? rm’s conditional demand for (c) (10 points) Now let’s consider scale and substitution e? ects. Assume that initially the price of the ? rm’s output, p, the rental rate of capital, r, and the wage, w, are all equal to 10. (i) How much labor will the ? rm use at these prices, and how much output will it produce? (ii) Using only the mathematical results you got in parts (a) and (b), compute e? ect of an increase in the rental rate to r = 20. Plugging the given prices into the pro? t-maximizing labor demand and output supply 2 functions from part (a) we get, L? (p, w, r) = 5 ·10 = 25, and y ? p, w, r) = 50  · 10 10 (f rac10 + 1010  · 10) = 100. ? ? you might have plugged the new prices into the ? rmâ€℠¢s supply function to get y ? (10, 10, 20) = 50 ·10 10+20 = 75. If you then plugged this into the 10 ·20 ? rm’s conditional factor demand at the new prices you would get L? (75; 10, 20) = 75 20 10 10+20 2 = 25. 4 Problem 2. (24 points total) Consider a perfectly competitive industry with 10 identical ? rms, each of which has variable costs of 10y 2 and ? xed costs of 1000. We will de? ne the short run as the time scale in which ? rms cannot enter or exit the industry, and cannot avoid their ? xed costs. In other words, in the short run ? rms must continue to pay their ? xed costs even if they produce zero output. ) In the long run, ? rms can enter or exit the industry, and can avoid their ? xed costs by shutting down. (a) (8 points) Compute the short-run inverse supply curve of the ? rm, and the short-run inverse supply curve of the industry, and graph them on the same graph. [Hint: it matters a lot that ? rms can’t avoid their ? xed costs in the short run. ] Each ? rm’s cost function is C(y) = 10y 2 + 1000, and the marginal cost curve is M C = 20y. Normally we say that the inverse supply curve of the ? m is the upward sloping part of the marginal cost curve, above the minimum of the average cost curve, because if the price is below the minimum of the average cost curve, the ? rm will make negative pro? t and will shut down. However, in this case, in the short run, if a ? rm shuts down it will still have to pay its ? xed cost of $1000. As a result, it will continue to produce output even if it is losing money, as long as it does not lose more than $1000. So we need to ? nd the price below which the ? rm will have lose more than $1000. Pro? t is py ? 10y 2 ? 1000 and we want the price below which this is less than ? 1000. To do this we have to plug in the ? rm’s pro? t-maximizing quantity as a function of price, which we get by solving the ? rm’s marginal cost curve p p p 2 to get y ? = 20 , which gives us p 20 ? 10 20 ? 1000 = ? 1000 ? p2 19 = 0 ? p = 0. 40 The ? rm will continue to produce at any positive price rather than shut down and 5 pay its ? xed cost without any revenue. Thus, the ? rm’s inverse supply curve is simply the entire marginal cost curve, p(y) = 20y. To compute the short-run inverse supply curve of the industry we ? rst have to aggregate ? rm supply to industry supply, and to do that we have to have the direct supply curve of the ? m, which we get by solving the inverse supply curve for y to p p get y(p) = 20 . Short-run industry supply is Y (p) = N yj (p) = 10 20 = f racp2. j=1 Solving for p we get the short-run inverse supply curve of the industry, p(Y ) = 2Y . Your graph should look like this: (b) (6 points) Suppose the demand for the industry’s produ ct is de? ned by pd (Y ) = 700 ? 5Y . (i) What will be the short-run equilibrium price and quantity for the industry? Illustrate this equilibrium on a graph. (ii) Explain why this market outcome is an equilibrium in the short run. [Be sure to make reference to the general de? ition of equilibrium in your answer. ] (iii) Is this industry in long-run equilibrium? Explain why or why not. [Again, be sure to make reference to the general de? nition of equilibrium in your answer. ] The short-run market equilibrium is where the quantity demanded at the price paid by consumers is equal to the quantity supplied at the price received by producers, and since, in the absence of a tax, the price paid by consumers is the same as the price paid by producers, we just solve for the intersection of the supply curve and the demand curve: 700 ? 5Y = 2Y ? Y ? = 100. Plugging that into either the demand or the supply curve we get p(Y ) = 200. Your graph should look like this: In general, equilibrium means that no individual agent has an incentive to do anything other than what they are currently doing, which means that the system will 6 not move from the point it is at. In the case of short-run market equilibrium this means that at the market price consumers cannot be made better o? by increasing or decreasing consumption, and ? rms cannot be made better o? by increasing or decreasing production. This is clearly the case at the market equilibrium we have solved for. If consumers increase consumption they will have to pay more for the additional units of the good than the value of those units, and if they consume less they will be giving up units that are worth more to them than they are required to pay for them. In either case, they are made worse o? , and thus have no incentive to change. For ? rms, roughly the same argument applies. If they produce more, the maximum they will be able to charge will be less than the cost of production, and if they produce less they will be giving up units that they were able to sell at a pro? t. In either case, ? ms are worse o? , so they have no incentive to change what they were doing. The industry is in long-run equilibrium. To see this we need to know whether ? rms are earning zero pro? t, and to determine that we need to know something about the ? rm’s average cost curve, which is AC = 10y + 1000 . If we minimize this we ? nd y that the ? rms’ minimum average cost is minAC = 200. And since th is is equal to the price in the current equilibrium, ? rms’ pro? t is (p ? AC)y = 0y = 0. Long-run equilibrium is de? ned as the point at which ? rms will have no incentive to enter or exit the industry. The reason ? ms enter or exit is in response to pro? ts being either positive or negative, so if pro? ts are zero in the industry there will be no incentive to enter or exit, which is to say, no ? rm will have any incentive to do anything di? erent from what they are currently doing. (c) (10 points) Suppose the government imposes a tax of $50 per unit on the ? rms in the industry. (i) Compute the short-run after-tax equlibrium quantity, price paid by consumers, and price received by ? rms, and graph them. (ii) Calculate the change in producer surplus caused by the tax in the short-run. Add it to your graph. iii) Compute the long-run after-tax equilibrium quanitity, price paid by consumers, and price received by ? rms. Add this equilibrium to your graph. How many ? rms will ex it the industry? (iv) Calculate the change in producer surplus caused by the tax in the long-run. Why is this the same or di? erent from your answer to ii above? To compute the short-run after tax equilibrium we need to ? nd the point at which the quantity demanded by consumers, at the price they pay, is equal to the quantity supplied by ? rms at the price they receive. This is the quantity that solves the equation, pd = ps + t, which is to say, 700 ? Y = 2Y + 50 ? YtSR = 92. 9. Plugging this quantity back into the inverse supply curve we get ps = 2  · YtSR = 185. 8, which means the price paid by consumers is pd = ps + t = 185. 8 + 50 = 135. 8. The change in producer surplus is the area to the left of the supply curve between the pre-tax price and the after-tax price received by ? rms. It includes the ? rms’ share of the tax revenue as well as the part of deadweight loss that comes from ? rms. In the case of linear supply it is the area of a parallelagram with height equal to the di? erence between the pre-tax price and the after-tax price received by ? rms, and bases of Y ? nd YtSR , which is ? P SS R = (200 ? 185. 7) 100? 92. 9 = 1379. 2. 2 7 By now your graph should look like this: In an industry with identical ? rms the long-run supply curve is horizontal, which is to say, in long-run equilibrium ? rms will be earning zero pro? t because entry and exit will always drive the price down (or in this case up) to the point where the price is equal to the minimum average cost. Thus, the after-tax price received by ? rms will be ps = 200. Otherwise ? rms would be losing money and would have an incentive to leave the industry, and the industry would not be in long-run equilibrium. Thus, we know that the tax will be passed on entirely to consumers, which means that the price paid by consumers will be pd = ps + t = 200 + 50 = 250. Setting the inverse demand curve equal to that price, we can compute the long-run after-tax equilibrium quantity, 250 = 700 ? 5Y ? YtLR = 90. To determine the number of ? rms in the industry we have to know how much output each ? rm will produce when they are operating at their minimum average cost. We computed the direct supply curve of p the ? rm in part (a), y(p) = 20 , which means that at the minimum of their average cost, minAC = 200, each ? rm will produce 200 = 10 units of output. Since the 20 industry as a whole is producing 90 units, there must be 9 ? rms in the industry. One has exited the industry. Your graph should look like this: In an industry with identical ? rms, by de? nition, the long-run producer surplus is zero. There are two ways to see this. The ? rst is that the long-run supply curve is horizontal, which means that in long-run equilibrium the price is the same as the height of the supply curve, and since producer surplus is the area between the price line and the supply curve, there clearly can be no producer surplus. The other way to see it is to refer to the de? ition of long-run equilibrium in an industry with identical ? rms, which is that all ? rms are earning zero pro? t. The reason this is di? erent from the answer to ii, above, is that in the long-run ? rms can escape the burden of the tax by leaving the industry and going into some other industry that is not taxed. We know that the burden of a tax always falls most heavily on the side of the market that is less able to change it’s behavior to escape the tax, which is to say, the side of the market that is most inelastic. In the long-run, the supply side of the industry is perfectly elastic, and thus bears none of the burden of the tax. 8 How to cite Econ 100a Midterm, Essay examples

Management of T2 Analysis †Free Assignment Sample By Experts

Question: Describe about the Management Analysis of T2? Answer: 1. Background, introduction and importance of company to the Australian and internationalbusiness landscape: 1.1 Background T2 is a leading top retail company of Australia which is basically offering the maximum percentage of fragrant, premium tea and the other materials getting from tea from the maximum area of the globe. T2 is doing their business for the last 18 years, and now days it becomes a large company of tea who does their selling of enough tea in such a large amount that is equivalent to the amount 9 million cups of tea. In this assignment it discusses the full analysis of sustainability and management of the company T2. 1.2 Introduction To give an introduction of the company it tells that T2 is the one of the special tea of many of the country like Australia, America, the United Kingdom, New Zealand, and also many other country where there are many numbers of stores. It is a famous tea that many people start and end their day with this tea to get the full refreshment. T2 teas are also served among the leading restaurant of the Australia. The package of T2 is done in a beautiful way in an experience of both the unique and immersive way which is the celebration of making centuries in the art of making tea. 1.3 Importance of T2 to the Australian and International business landscape: There are many of the companies which are operating their business on the Australian and the international business landscape. In the international business landscape this company is compete ting with the other leading brands of the tea such as Tetley, Lipton, etc. From 2013, Unilever Australia ltd. one of the special tea brand of Australia called as T2 to expand their business in the premium tea market (International Small Business Journal 'Entrepreneurial Exit', 2013). To compete with the leading companies on this international business landscape it is required to develop the sustainability of the business start-up so that it increases the clients number by 20% throughout the year. Through this landscape it provides the view of the potential future of the tea industry throughout globally. In this business landscape it develops the outlook of all the business and also makes a report to analyze the particular business with respect to the whole business (Lu, 2012). On the basis of thi s landscape, the international business organization has published a report in which describes the whole report of the business and also about the strategy of all the business. On the basis of the international landscape T2 has already emerges with Lipton so that it can make its own place on this landscape (Lu, 2012). To improve the business T2 is expanding their business throughout the other countries as in Australia, New Zealand, and America and also many other companies which helps them to extend their business. To make their importance in the international business landscape they have to first understand the lack age in their products according to the other brands so that in their requirement they can bridge that gap to improve their business in the international business. 2. Research, analysis and discussion of sustainability related strategies and issues: 2.1 Role of organizational behavior at T2 Organizational behavior is mainly describes the group dynamics and also describes how an individual relate and participate in the group work, how they take initiative to do any work, and also the leadership nature (Zhong and House, 2012). The way in which the individual and any group interact with and towards the organization refers to the organizational behavior. In case of T2, the existing combined behavior creates a climate, which can undermine the organizations success. Within the organizational environment, employees of T2 bring out their background to their work place and also accommodate themselves according to the organizational culture (Ludwig and Frazier, 2012). So, here behavior creates an impression of good or bad on the customer which overall depicted as T2s response in terms of behavior. In this context, the research also finds out some of the aspects which cause the changes in the organizational behavior at T2 (Ludwig and Frazier, 2012). They are: Culture: At T2, while any of the new employees joins, the changes of their behavior is get influenced by the culture of the company in such a way that they starts to behave according the behavior followed at T2, which they thinks to be acceptable likely in formal ways. Motivation: At the same time, the organizational behavior at T2 also influences the many of the decision which are taken during the operation. Here, to motivate the employees, T2 introduced many of the plans such as reward program; bonus program, incentives and also salary hike so that the employees can get motivated in their work and also get more dedicated towards the company. So, from these points of view, it can be said that the organizational behavior at T2 plays the vital role towards the success of the organization. It causes the great impact on the improvement of the organization. As it is well known that discipline is the key of success, under the organizational behavior, it also includes discipline. So, to sustain the success of the company, T2 needs to follow some norms of behavior so that it can be easy to maintain the behavior of the company (Zhong and House, 2012). It is also the fact that organizational behavior mainly controls the human behavior in the organization environment. 2.2 Human resource management practices at T2 In case of human resource management practices, it is noted that at T2, there come some of the points which cannot be neglected. Any organization cannot organize any team without the proper management of the human resource, so the organization T2 (Buller and McEvoy, 2012). Research shows that at T2, the key strategies applied to manage the human resource of the organization are: recruitment of the people, training of the people, appraising the performance, motivation of the employees, work place environment and also many more things. Some of them are discussed below: Recruiting and training of the people: It is noted that in order to recruit the proper candidate and also to give the proper training of the people, T2 followed proper training schedule so that they can do their work in a proper way and also can get suited for the description of the work (Human Resource Management: Volume 52, 2013). In this context, another important thing, which T2 followed is the on the job training. They followed this specific strategy to give the proper training on the basis of the requirement so that they can get that opportunity to show and also to sharpen the skills of the employees (Si and Li, 2012). Appraisal of the performance: To upgrade the performance, T2 also encourages the people in such a way that they can get ready to give their full potentiality towards their work. To improve the performance of the employees the team leader communicates with the team member after a certain time interval so that the team member gets to know if there is any lack age in their performance and also how to improve and also what are the necessary steps according to the required improvement(Human resource management: Volume 51, 2012). 2.3 Role of international business at T2 International business mainly includes the entire business transactions as private and government, investment on the sales, numeric and logistics and also the transportation cost which occurs between the two or more countries, regions and also the nations above their political criteria. Through the international business, T2 emphasizes on certain important points which are: The international business helps T2 to acquire the more sales. International business helps T2 to get the new technologies in the business. International business also helps T2 to bring the proper utilization of the resources. Through international business, it provides the quality products. Through the international business T2 helps to earn the foreign exchange. It also helps to get the proper infrastructure for doing the investment. For now days International business acts as the essential phenomena in the business world. Through the international business any organization can get easily is access in the international market through this they also can get the recognition in the international market which also helps T2 to get foreign exchange in return of their product. Through the international business, T2 also become popular all over the world and also bring the useful resource from the foreign countries and also do the proper utilization of these foreign exchanges (International Small Business Journal 'Entrepreneurial Exit', 2013). 2.4 Role of technology management at T2 Information Technology (IT) plays the vital and the integral part of the business plan. The role of technology management at T2 helps to understand the value of the certain technology of the organization. The technology management plays some of the important part at T2. Technology management helps T2 to communicate easily with others through emails, online meetings, voice messages, video conferencing and etc. Through the information technology T2 can also manage the inventory in an effective way so that they can easily access the stock of the company and also give the information of the stock available in the company. It also gets alert if the stocks are decreasing so that they can get the time to refill the stock. Through this inventory management it creates a loop between all the departments of the company so that everybody can get easily access all the departments of the company easily. It also helps to manage the information systems of T2 in such a way that it can easily track t he profitability of the company, maximization of the return of the investment and also the areas which are needs to improve. Through the information technology it becomes very easy to manage the data in the best possible ways which can create a database where all the data becomes available and any time it becomes easy to access all the data easily. So that if any time it requires to draw the conclusion it becomes easy to do it. Information technology also helps to do one of the important things which are called Customer Relationship Management (CRM). CRM helps the way they design and also the way they maintain the relationships of the customer. With the help of CRM the customer of T2 gets the better and the more focused experience and the company also get benefitted from this improved productivity (Cole-Hawthorne, 2013). 3. Analysis of entrepreneurship and innovation at T2 The process through which any of the business and the organization becomes started it becomes the entrepreneurship. In innovation management it describes the set of tools which allows the mangers and the engineers to cooperate with the processes and the goals (Wright and Stigliani, 2012). At T2, creativity of the new ideas and process are welcomed so that it helps to get the improvement in the business. Entrepreneurship and the innovation management focus on the 4 parts which includes: Entrepreneurship introduction Management of the small business Management of the creativity and the Innovation Strategic and the corporate types of the Entrepreneurship (Dhliwayo, 2014). In the introduction of the entrepreneurship, T2 describes to identify the opportunities and also do the proper analysis of these opportunities, does the feasibility study of the opportunities, to build a proper team and also to give notice in the growth strategies. In the small business management it is important to understand the scope and the nature of the business and also look after the opportunities of the business environment and to manage the growth of the business in a proper way (Ott, 2013). To manage the creativity and the Innovation of the technology it requires maintaining the creativity of the business and also the source of the innovation of the new technologies to find the strategy of the innovation, proper choosing of the innovation project and also the introduction of the new product in the development process (International Small Business Journal 'Entrepreneurial Exit', 2013). To analyze the necessity of the corporate entrepreneurship the link between the strategic management and the strategic management it discusses the whole strategy and the role of the entrepreneurship and also the development of the implementation framework of the corporate entrepreneurship (Dhliwayo, 2014). 4. Future strategies of the management To improve the future strategies of the company there are some of the three major points of the strategies which needs the company needs to improve. Those three major strategies are discussed below: First of all, they need to bring the varieties or the diversification among their product so that they can get the better improvement of their business. They are already doing the business of the tea if they bring the varieties in the tea and also starts the business of the coffee they can improve their business and also can expand so that it helps to earn the more profit because now days the people get more health conscious. Secondly, to provide the teas they can use the eco-friendly product so that they can easily decompose and also cannot get effect to the environment. Thirdly, it can do the improvement in the quality of the tea which helps to earn the more profit and also to expand the business. 5. Conclusion To concluding this assignment, it gets to know that the company T2 needs to follow and implement the future strategies of the company which are mentioned above. So that it get the better profit and also expand their business through worldwide. It also states how they can bring the variety in their business so that more numbers of customers can get engaged with this type of brand. References Buller, P. and McEvoy, G. (2012). Strategy, human resource management and performance: Sharpening line of sight. Human Resource Management Review, 22(1), pp.43-56. Chiavetta, D. and Porter, A. (2013). Tech mining for innovation management. Technology Analysis Strategic Management, 25(6), pp.617-618. Cole-Hawthorne, R. (2013). Sustainable landscape planning the reconnection agenda. Australian Planner, 51(1), pp.91-92. Dhliwayo, S. (2014). Entrepreneurship and Competitive Strategy: An Integrative Approach. Journal of Entrepreneurship, 23(1), pp.115-135. 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