GDP or gross domestic product can be regarded as one of the most common indicators for tracking the current condition of the economy’s health. GDP’s calculation usually takes into consideration a wide variety of factors along with the economy of the nation including variables such as investment and consumption. It is also the most important and closely observed economic indicator for investors and economists since it represents the total value of the services and goods produced by an economy over a specific period. According to online tutors for BCom, GDP is also regarded as one of the key factors while using the Taylor rule, which can be regarded as one of the primary methods implemented by the central bankers to evaluate the health of the economy. It can also be regarded as one of the most popular methods for measuring the output of an economy.
The GDP figures are usually a great indicator of the economy and the size of the economy is usually determined from data of the GDP. It is also defined as the total consumption made by households, all purchases made by the government of a nation, purchases by foreigners, all the investments made by organizations minus imports.
GDP can be broadly divided into two different types by online tutors for BCom
Online tutors for BCom describe it as Real and Nominal GDP. Real GDP factors inflation which means that it accounts for the overall increase in the level of prices. On the other hand, Nominal GDP doesn’t take into consideration deflation or inflation while considering the current prices of the market. Because the following information has been provided regarding the economy of New Zealand, the GDP of the nation can be assessed in the following way:
Data have been given in billion by online tutors for BCom
In the context of the study in order to assess the economy of New Zealand the following formula can be used to calculate the GDP of the nation:
GDP = C + I + G + NX – D
C = consumption
I = investment
G = government spending
NX = net exports
D = imports
Putting the values,
C = 680
I = 370
G = 430
NX = 710
D = 295
GDP of New Zealand = 680 + 370 + 430 + 710 – 295
= 2190 – 295
Therefore, the GDP of New Zealand is $1895 billion.
c) GDP is usually considered to be one of the leading indicators of assessing the economic performance of a country along with the size and stature of the economy. However, no metric is perfect and hence GDP cannot be considered to be error-free. GDP doesn’t consider a lot of transactions that place in an economy as the cost imposed on human health can be considered as one. In addition, the treatment of depreciated capital is being considered as the new capital. Intermediate goods and illegal goods are usually not considered to be a transaction in the process of calculating a GDP.
The objective of GDP and contracts by tuition teachers for BCom
1; to identify the different risks associated with the supply chain management of KFC
2.2 Influence of consumer changing demands placing pressure on supply chain process, 2.3 Impact of fierce competition on supply cost, 2.4 Risks of raw materials’ quality through brokers and agent, 2.6 Contractual issues with suppliers, 2.7 Inadequate resources for mitigating risks, etc. are the points from Literature review which can be identified as risk factors affecting the supply chain management of the company. These five points by tuition teachers for BCom directly deal with the risk factors which work as an obstacle to the smooth processing of the supply chain management. And in order to solve the problems it is essential to link these questions from the Results are taken into consideration, hence the questions are Q9 being an employee what kind of issues are you facing that are associated with supply chain management of KFC, Q5 how far do you agree KFC is successful in identifying the risks in supply chain management. Both of the questions focus on the risks that are bothering the supply chain.
Objective 2; to recognize the different processes of identification of those risks in the context of KFC
Considering the objective the 2.2 Focusing on the reasons influencing to implement supply chain in an organization; is the only point that helps in identifying the risk factors involved in the case of the organization. And the Q5 how far do you agree KFC is successful in identifying the risks in the supply chain process; deals with the objective as both focus on identifying the risk factors.
Objective 3; to assess the different ways through which the risks can be mitigated for the betterment of the organization by B.com tuition teacher provider
Point 2.8 Types of Supply chain management methods and theories; is the point from Literature Review that recommends the ways which are essential to mitigate the risks for the betterment of the company. On the other hand, considering the results section, Q11, how far do you agree that the acceptance of six stigmas would be helpful for the company to overcome the risks of the supply chain; focus on mitigating the risks.
Objective 4; to determine the different ways through which the KFC supply chain can be developed
Here again the 2.8 Types of supply chain management methods and theories; are the most relevant point from the literature review which helps in determining the different ways to develop the supply chain of KFC. Q15 Will alternative strategies play a crucial role in reducing the number of risks in Supply Chain Management; from the results, the section is helpful in determining the different ways through which supply chains can be developed.
Points to be noted by best online tuition for BCom
After examining all the limitations of the research it is evident that there is a scope that if the research is done with more confidential and more productive information there will be a chance for a more relevant and applicable conclusion to the problem. Adequate funding, timing, and information can also bring out a whole different solution to the problem faced by KFC. On the other hand, the best online tuition for BCom with the supply chain management of a different brand from a different field is considered the research may progress in a different way and there will be a chance of conclusion which will be a lot different from the present one. Thus it can be extracted from the present research that there are scopes in the future to analyze the same research problem in a different way and also in a different context.
Based on the overall research and its key relation with the objectives, it has been recognized that most of the respondents have confusion in accepting the lean method of supply chain and some others prefer to depend on TQM aspects of managing retail supply chain risks. This can be recommended with some suitable areas of improvement. Focusing on the cost of total ownership would be a valuable one, as it would let its assets be secured with minimum consumption of production cost and enhance its profitability in the service quality to the customers. However, tuition teacher for BCOM has helped a lot through this blog.