Costs

ces stratégies sont néanmoins contraintes par les règles de concurrence. Plan sommaire 1. La stratégie d'investissement dans des capacités excédentaires 2. La stratégie de prédation (les prix prédateurs) 3. La stratégie des « switching costs » 4. La stratégie de F&A (de concentration) Stratégie est contrainte par le droit de la concurrence. 4 grandes stratégies : Bibliographie : « Principes économiques de stratégie » de Boeck Introduction : L’essentiel de l’enseignement

Exhibit 1. Value creation € In order to build competitive advantage, the value created must be … • positive • larger than the value created by competitors • imperfectly imitable and substitutable Perceived use value Value created Costs Exhibit 1: Value creation is a necessary condition for building competitive advantage At this point, it is important to clarify the definition of value within the context of this framework. Previous definitions of the term, even by important

required information at its disposal, shall take into account the variation, on a percentage basis, of the unit cost in the reference period and that in the preceding period; 4° the percentage applicable to maintenance costs for the reference period; 5° the percentage applicable service costs for the reference period; to 5° le pourcentage applicable pour la période de référence aux frais de services; 6° le pourcentage applicable pour la période de référence aux frais de gestion, établis à 5 % des

Occupancy rate Like-for-like RevPAB (3) EBITDAR Villages (4) (€m) 1,401 1,382 1,324 595 68.2% €85.5 210 1,484 1,477 1,361 656 70.9% €91.8 248 1,360(2) 1,344 1,228 669 69.2% €91.4 254 2008 2009 Reported (in €m) Operating income - Leisure Credit card costs Operating income - Villages 2007 2008 2009 27 (9) 18 45 (10) 35 45 (9) 36 As a % of revenue 15.0% 16.7% 18.9% Operating income - Villages * 18 35 36 (1) In accordance with IFRS 5, adjusted to exclude Club Med World (2) Including

attributes embodied in the ability to perform labor so as to produce economic value.. Human-capital theory This is a moden extension of Adam Smith's explanation of wage differentials by the so-called net (dis)advantages between different employments. The costs of learning the job are a very important component of net advantage and have led economists such as Gary S. Becker and Jacob Mincer to claim that, other things being equal, personal incomes vary according to the amount of investment in human capital;

total utilities for the 7th and 8th units of a good consumed are 55 and 67, respectively. The marginal utility (MU) for the 8th unit is a) 122 b) 67 c) 61 d) 12 9. Suppose the first four units of an output produced have total costs of 50, 150, 300, 500, respectively. The marginal cost (MC) of the SECOND unit of output is a) 200. b) 150. c) 100. d) 75. 10. In the short run, a perfectly competitive firm will produce even with an economic loss, as long as

| | | |Fixed costs: | |Variable costs per unit: | |Break-even analysis:

du 11/09 * Hausse du prix du pétrole en 2008 : 40% des coûts d’exploitation * D’une industrie de CF à une industrie de CV * Stagnation, puis baisse de la demande (affaires et tourisme) * Concurrence des compagnies low costs Le transport aérien : une industrie de réseau * Cadre théorique : l’économie des réseaux * Télécommunications, Internet, transport aérien,… * Des externalités de réseau du côté de la demande : * Utilité liée au nombre d’utilisateurs

as well as the state. SROI methodology involves the creation of an impact map in the first instance to describe how investment in a service affects key stakeholders. It then identifies appropriate outcome indicators and data sources to measure the costs and benefits of the investment. The findings from the SROI analyses are presented in Section 4. A more detailed methodology is also available in additional SROI reports for each of the three services analysed.1,2,3 P Two citizens’ jury events

challenge of the Distributor then is to help them manage the other areas of the P&L. Here are other areas where the Distributor can help… Operating Expenses Salaries & Wages Employee Benefits Occupancy Costs Depreciation Direct Operating Expenses Marketing Music & Entertainment Food & Beverage Costs/Research Utilities Administrative & General Expenses Repairs & Maintenance Here’s a look at just one of the areas where a Distributor can impact an Operator’s P&L Operating Expenses Labor