Examples of learning curve in the following topics:
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- Operating costs that account for possible economies of scale and learning curves.
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- One strategy does not fit all, so adopting a pricing strategy is a learning curve—studying the needs and behaviors of customers and clients is essential.
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- The supply curve goes in the opposite direction from the demand curve: As prices rise, the quantity of apples that farmers are willing to sell also goes up.
- We do this by plotting both the supply curve and the demand curve on one graph.
- The point at which the two curves intersect is the equilibrium price.
- We've learned that without outside influences, markets in an environment of perfect competition will arrive at an equilibrium point at which both buyers and sellers are satisfied.
- The demand curve would change, resulting in an increase in equilibrium price.
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- As such, the manager must find new products to replace those that are in the declining stage of the product lifecycle and learn how to manage products optimally as they move from one stage to the next.
- Some argue that the competitive situation is the single most important factor influencing the duration of height of a product lifecycle curve.
- Whether one accepts the S-shaped curve as a valid product-sales pattern or as a pattern that holds only for some products (but not for others), the product lifecycle concept can still be very useful.
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- Industries have specific structures and the entrepreneur needs to learn and understand the significance of the structure for his/her industry.
- Rate of growth and the industry growth curve are an important element of industry structure as is the extent to which an industry is unionized.
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- There are two main ways to learn business topics: problem-based and team-based learning.
- Problem-based learning (PBL) is a student-centered pedagogy in which students learn about a subject in the context of complex, multifaceted, and realistic problems.
- Problem-based learning: Use problems encountered in the course of work as the context for learning.
- Lessons Learned Forum: A thorough review and discussion using mistakes and successes as a situation to learn from.
- Discover how problem-based learning leads to a more effective and fulfilling experience for students learning business topics
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- This process has been proposed that the life cycle of innovations can be described using the "S-curve' or diffusion curve.
- The S-curve maps growth of revenue or productivity against time.
- Successive S-curves will come along to replace older ones and continue to drive growth upwards .
- In fact the great majority of innovations never get off the bottom of the curve, and never produce normal returns.
- In the figure above the first curve shows a current technology.
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- Equilibrium is defined as the price-quantity pair where the quantity demanded is equal to the quantity supplied, represented by the intersection of the demand and supply curves.
- That is, the quantity demanded typically rises causing a downward sloping demand curve.
- A demand curve shows the quantity demanded at various price levels.
- Demand-oriented pricing focuses on the nature of the demand curve for the product or service being priced.
- The nature of the demand curve is influenced largely by the structure of the industry in which a firm competes.
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- Shown graphically, it is seen at the point where the total revenue and total cost curves meet.
- To do this, draw the total cost curve (TC in the diagram), showing total cost associated with each possible level of output; the fixed cost curve (FC), showing costs that do not vary with output level; and finally, the various total revenue lines (R1, R2, and R3), showing the total amount of revenue received at each output level given the chosen price point.
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