The Business World Is More Challenging - 1584 Words

To say the truth the business world is more challenging. To assess the purpose the business it should be noted that we can say that the profit must come in the first array and in some special cases the benefit to the society also has come as a major why the business is doing in the current world. If we wish to make analysis the environment of the business then the industry in which the business is operating must be given preference as well as the risk the business is having in the current time being. 1 Task-2 1.1 How the different economic system affects the effective allocation of the resources Command economy: At first we will discuss regarding the command economy. Actually command economy refers to any such type of economic system where the government holds the authority of the major decisions such as how much to be produced, the price quotation for the produced goods and the quality of the produced goods in some extent also. So it is necessary to discuss how it will affect the Trio and other business organization. To say we can illustrate that here the company will not have the option to produce as its best wish rather than the government has (Piveronus, 2006). On the other hand the company has not the right to fix the price quotation rather it may be lower due to the government intervention on the company. The company cannot have the optimum quality production as the price charge may not come up with the said price. Market competition may be high. There is a littleShow MoreRelatedMy Statement of Purpose: Financial Engineering677 Words   |  3 Pagescomplex business pr oblems while also creating software applications that scale to the most complex, large scale enterprises is a passion that drove me to excel in computer science. 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