Subway: The Labor Market
Demand for labor
The most obvious source of an increase of a demand for labor by an organization is an increase in the demand for the product or service provided by the firm. In the case of Subway, the organization provides both a product (food) and service (food preparation). When demand for sandwiches increases, the need for more workers to take orders, make sandwiches, clean the premises and mange the store will also increase. Another possible reason demand for labor might increase is a change in the types of goods and services offered. When Subway offered new types of sandwiches, such as hot hoagies or Panini, the more labor-intensive nature of such preparations may require an increase in workers (Carlinio n.d). Similarly, improvements in technology sometimes result in a decreased need for labor.
Is labor a fixed or variable cost in the short run? What are the fixed costs of your firm?
In the short run, labor is a variable cost at Subway. Variable costs increase in direct proportion to the amount produced of a particular unit (Martland n.d). Worker turnover in the fast food business is very high, and a firm can quickly lay off or hire more workers, based upon consumer demand (Fast food careers, 2009, Kellogg Forum). Additionally, because Subways are largely staffed by minimum-wage workers who work part-time, managers can schedule workers for fewer hours if demand for the product begins to slacken and large portions of the staff are seen standing around, doing very little in the store.
Fixed costs, in contrast, must be paid regardless...
Subway Supply and Demand at Subway Supply and demand refer to much of the product the firm produces and how much of a product the consumers want, and each of these is affected by a number of factors (Investopedia, 2011). Among the factors that affect supply are the expected demand, the expected price the firm will receive, the price of inputs and the competition in the market (EconPort, 2006). Thus, if there
Market Orientation of Medical Diagnostic Units Dissertation for Master of Health Administration i. Introduction ii. Objectives iii. Description iv Administrative Internship v. Scope and Approach vi. Growth vii. Methodology viii. Hypothesis ix. Survey Questionnaire x. Research Design xi. Observation and Data Presentation xii. Test provided xiii. Analysis of findings Marketability of Patient Satisfaction Importance of Employee Satisfaction xiv. Conclusions and Recommendations xv. Bibliography xvi. Notes xvii. Appendices Market Orientation of Medical Diagnostic Units
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