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Price elasticity of demand (PED or Ed) is a measure used in economics to show the responsiveness, or elasticity, of the quantity demanded of a good or service to a change in its price. More precisely, it gives the percentage change in quantity demanded in response to a one percent change in price (ceteris paribus, i.e. holding constant all the other determinants of demand, such as income).

Price elasticities are almost always negative, although analysts tend to ignore the sign even though this can lead to ambiguity. Only goods which do not conform to the law of demand, such as Veblen and Giffen goods, have a positive PED. In general, the demand for a good is said to be inelastic (or relatively inelastic) when the PED is less than one (in absolute value): that is, changes in price have a relatively small effect on the quantity of the good demanded. The demand for a good is said to be elastic (or relatively elastic) when its PED is greater than one (in absolute value): that is, changes…

Internal Audit Competency Framework

High Performance Culture in Organization

TOP 10+ KEY ELEMENTS IN CREATING A HIGH PERFORMANCE CULTURE
HIGH PERFORMANCE CULTURE ARE NOT DEPENDENT ON ONE SIMPLE FACTOR

High performance culture are not dependent on one simple factor or as a result of one or two things. The entire context you operate in greatly impacts your results. This context includes the culture of the company – how things get done, how decisions get made, what works and does not work as far as behaviors and what gets rewarded and how.

The key to building a high-performing culture is to make sure you consider “‘what“ and “how“ you will get to your destination points – the clear definitions of where you are going in a specific time-frame.

The specifics of a high performance culture are unique to your company because they are based on what will work best for you to get you to where you want to go within the parameters you have defined. There is no ‘one size fits all’ when it comes to culture.

CREATING A HIGH PERFORMANCE CULTURE
However, here are 10 key element…

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