ETHICS SELF-ASSESSMENT PAPER AND EVALUATION Essay - 1

ETHICS SELF-ASSESSMENT PAPER AND EVALUATION - Essay Example Q4. Making ethical decision is tricky because knowing the rights step to follow to handle the matter is a challenge. I had a problem because I did not know the best way and process to follow in order to deal with the problem. Q.23. answering this question for me is tricky because, the sexual relationship is between former client and the counselor knows some private things about the client. On the same note, it is now a former client so difficult to know how to handle. The first issue is dealing with client who has different belief system as me. For example if I have a client who is atheist and does not belief in any religion that can be problem to me. But, in order to be professional, I will stick to the ethics and responsibility of the work and that will help me to remove any emotions and beliefs that I have when dealing with the client. Another issue is that I am emotional and can feel sorry for client and share in their emotions. For example, I may be overwhelmed and feel like crying with the client. I will try to avoid this by observing the codes. On the same note, I will look for help from other colleagues to help me in tough times and tough decisions. The third issue is when dealing with clients who do not have money to pay for the services. I know professional have to be paid to survive but sometimes the client does not have enough money so it is difficult to deal with such problem. However, I will try to loom for advice form supervisor and other colleagues so that I can deal with the problem in the best

To identify these chemicals Essay Example for Free

To identify these chemicals Essay Problem: you are provided with 3 unknown chemicals which are labelled A, B, C, D and E. Carry out appropriate test to identify the chemicals. Method: to identify these chemicals I will carry out two types of test: Flame test and chemical test. Flame test:   To carry out the flame test I will dip the metal wire in the roaring Bunsen flame.   Then I dipped the wire in hydrochloric acid   Next I placed it into the sample and then I placed it into the roaring Bunsen Flame. After I recorded the colour of the flame Safety:   I wore goggles to protect my eyes from acid (hydrochloric acid is corrosive)   When I was not using the Bunsen burner, I put it on safety flame   I also used small amounts of acid and have a safety mat Test for cat ion: Chemical Flame colour Cat ion A Yellow Na+ B Lilac K+ C Green Cu2+ Test for an ion: Substance Test observation Sodium chloride Add Dilute hydrochloric acid It fizzes and carbon dioxide gas is produced. Copper carbonate Add Acidified silver nitrate White precipitate Potassium sulphate I added Acidified barium chloride solution White precipitate Evaluation: Flame test and chemical test tell us which chemicals are present. This is called a qualitative analysis. In industry, it is also very important to know how much of the chemical is present. The difference between my tests and the tests carried out in the industry is that they find the amount as well as the type of chemical.

Mercantilism Essay -- essays research papers

Mercantilism is an economic theory where a nation's strength comes from building up gold supplies and expanding its trade. Britain formed the American colonies so that they could increase their gold stores. They wanted raw supplies to make into products to sell and make money. They wanted America to pay taxes so that Britain could make money. America used the theory in that they thought they ought to, in order to be strong expand their trade beyond Britain. Countries like Belgium, and France wanted to also increase their trade, and expand it to trading with America. They also wanted to increase their gold stores by trading with America. Britain however did not want America to trade with France and Belgium and the Netherlands because they wanted to increase their gold stores, so they needed a monopoly over American trade. So there was tension between Britain and its American colonies. One of the first efforts made by Britain to control the American colonies was the Acts of Trade and N avigation. What these acts did was limited American trade to basically just Britain. These Acts were in place between 1650-1660 and they were there to ensure that the mercantile system that existed stayed. It was mainly to prevent the Frenchmen and Dutch from receiving American goods. The acts limited American shipping to be via Britain. The British had to receive all American goods and them their merchants would sell the goods to other countries, but America could not. Any goods that were to be imported to the colonies had to be passed through British middlemen, where a tax was added so that Britain would profit. America was also forbidden to produce goods or grow crops for profit. If they were to do that then they would be competing with British industries. The colonies were supposed to also buy more than they sold, so that their currency was drained, but all to Britain. Before 1663, when the Acts of Trade and Navigation were not enforced the colonists benefited from Britain. The colonists of the north smuggled goods and manufactured items for profit. They avoided the British laws. The southern colonists had a guaranteed market from the British because they had a monopoly. The colonies also benefited because they had the British army troops to guard them, and they have low taxes, and the British navy shielded them. The colonists were generally more prosperous than the English... ...000 troops. The colonists by this time were no the happiest of campers and when the Quebec Act was passed the colonists had had almost enough. What this act did was to close off the Western lands, the British gave religious freedom to the Catholics, and the Massachusetts Protestants were anti-Catholic. The act also allowed the French to retain systems where there were no representative assemblies, and where there were no jury trials, as a result of this fear was installed into the colonists. Through all of this we knew that in mercantilism our strength was being depleted by Britain, so there was an action, leading to a reaction, later leading to synthesis, or another action. This continued on and on, getting more and more violent until the American Revolution broke out. America was becoming increasingly patriotic, a nationalist "country". This American Revolution that was to result was one of "national self-determination" being that we can. We think we can, an d in ourselves as a nation we can stand alone, free of Britain. We determined this by a series of occurrences that all resulted, through our mercantilist ideas and thoughts, eventually in us being America.

Monopoly, Perfect Competition, Imperfect Competition

NATIONAL QUALIFICATIONS CURRICULUM SUPPORT Economics Microeconomics The Theories of the Firm [ADVANCED HIGHER] Acknowledgements This document is produced by Learning and Teaching Scotland as part of the National Qualifications support programme for Economics. First published 2002 Electronic version 2002  © Learning and Teaching Scotland 2002 This publication may be reproduced in whole or in part for educational purposes by educational establishments in Scotland provided that no profit accrues at any stage. ISBN 1 85955 929 8 contents Introduction1Section 1:The theory of perfect competition3 Section 2:The theory of monopoly9 Section 3:The theory of monopolistic competition and oligopoly13 Section 4:Resource allocation/externalities19 Section 5:Suggested solutions23 INTRODUCTION There are basically two types of market situation: (a)Perfect competition – in this market, firms have no influence; they are price takers. (b)Imperfect competition – this market includes monop oly, oligopoly and monopolistic competition; firms are price makers and can influence the market place. Every firm must obey three rules in order to survive: To maximise profits, firms will produce at that output where MC=MR and at the same time MC must be rising. †¢A firm will continue to produce in the short run as long as it can cover its variable costs. †¢In the long run a firm must cover its total costs. SECTION 1 In order to build a model against which we can compare other market situations, certain characteristics have to be assumed: †¢There are a large number of buyers and sellers in the market. †¢Buyers and sellers have perfect knowledge of goods and prices in the market. †¢All firms produce a homogeneous product. Products are identical. †¢There is freedom of exit and entry to the industry. There is perfect mobility of the factors of production. In the real world it is almost impossible for all of these conditions to exist at the same time. For eign exchange and agriculture are markets that have some of the above characteristics: currency is a homogeneous product and in agriculture there are a large number of farmers supplying the market without influencing the price. Can you identify other types of markets that are almost perfectly competitive? The demand curve No one firm can alter output enough to influence price. Therefore each firm faces a perfectly elastic demand curve.Each firm sells at a given market price and this price coincides with the firm’s AR and MR. The firm can sell as much as it wants at this price, however if it charged above this price, demand would fall to zero. [pic] The supply curve The short run supply curve of the firm in perfect competition will be that part of its marginal cost curve that lies above its average variable cost curve. MC is the lowest price at which a firm would sell an extra unit, and when we remember the second rule above that the firm must obey to maximise profit, we have correctly identified the firm’s short run supply curve. pic] The equilibrium of the firm The firm is in equilibrium when MR=MC. This is where profits are maximised or losses minimised. For the perfectly competitive firm the only decision to be made is how much to produce to maximise profits. Firms cannot influence price because their output is a very small part of market output. Equilibrium of the Firm – Perfect Competition [pic] Short run In the short run, firms earning supernormal profits will attract other firms into the market looking for higher than normal rewards. Remember that normal profit is just enough to keep the entrepreneur in business.Perfect Competition – Short Run [pic] Long run In the long run, as new firms enter the industry, established firms will expand their output to get more of the supernormal profits. Eventually, all firms earn normal profits as the supernormal profits are competed away. Long run equilibrium of the firm We saw how superno rmal profits attracted new firms into the industry. After a time, the existence of subnormal profits would cause firms to leave the industry. Supply would fall and prices rise. Hence long run equilibrium is one of normal profits only. Perfect Competition – Long Run pic] Advantages of perfect competition †¢Because firms produce where MC=MR=Price, allocative efficiency is achieved. †¢Productive efficiency is also achieved because the firm produces at the lowest point of the AC curve. †¢Prices are lower because of increased competition. †¢Because of perfect knowledge firms must keep up to date and innovate or they will be forced to leave the industry. †¢In the long run all firms will earn normal profits. †¢Cartels and other restrictive agreements cannot emerge to exploit consumers. †¢Perfect competition can be used as a model in economic analysis.Disadvantages of perfect competition †¢Firms have little time to benefit from inventions becau se they quickly enter the public domain. †¢Since firms make only normal profits they might not have the funds to undertake expensive research that often yields the most outstanding discoveries. †¢Firms might not benefit from economies of large-scale production. †¢In order to prevent abuse of the consumer, some industries are best run by the state as natural monopolies and so perfect competition would be inappropriate. †¢Perfect competition is a goal that cannot be reached in the real world.Student exercises/activities 1. To what extent does agriculture approximate to being a perfect market? (10 marks) 2. Study the diagram below and answer the following questions: [pic] (a)Why does the short run supply curve of the firm begin at S1? (2 marks) (b)At S2 the firm breaks even. Explain what this means. (2 marks) (c)At S2 the firm also earns normal profits. Explain why they are sometimes called the entrepreneur’s transfer earnings or the opportunity cost of capit al. (2 marks) (d)Is normal profit the same for each entrepreneur?Justify your answer. (2 marks) (e)Economic profits and losses are signals to owners of factors of production. Explain why this statement holds true only in the short run in a perfectly competitive market. (4 marks) (f)If the long run supply curve of a perfectly competitive firm is a horizontal line, what assumption can we make about the firm’s costs? 3. Read through the notes on perfect competition and write down each new economic term you have encountered (perhaps terms such as normal profits, economic profits, transfer earnings).Then make precise definitions of these terms from an economics dictionary or textbook. Section 2 A monopoly market structure is assumed to have the following characteristics: †¢In theory the monopolist is the only firm in the industry. However, under UK law any firm controlling more than a 25% share of the market is liable for investigation as a monopoly. †¢The monopolist is a price maker. †¢The monopolist is shielded from competition because barriers to entry prevent new firms from entering the market. Barriers to entry To exist, monopolies must have high barriers to entry. The main barriers are: government restrictions like a licence, permit or certificate to enter an industry †¢patents that make it illegal for others to use an inventor’s ideas for a number of years †¢ownership of factors of production that do not have close substitutes †¢difficulty in raising the necessary capital †¢economies of scale particularly in the case of a natural monopoly. Monopoly equilibrium The monopolist can stop new firms entering the industry through technical or statutory barriers. If the monopolist is making supernormal profits in the short run, they are likely to continue into the long run.Note that the monopolist will not always make supernormal profits, as they will depend on the relationship between consumer demand and production c osts. Monopolistic Competition – Short Run [pic] Pay particular attention to the following points illustrated above: †¢There is no supply curve in monopoly. Supply and demand are dependent on one another. †¢There is no distinction between short run and long run because of the barriers to entry. †¢Profit maximising output is OQ where MC=MR. †¢The price charged in the market is OP and is determined by the demand curve. †¢Supernormal profits are shown by the rectangle PXYZ enclosed by AR and AC.Price is OP and cost is OZ. †¢MR falls at twice the rate of AR and becomes zero when total revenue is maximised. Advantages †¢An industry with a flat-bottomed average cost curve benefits from economies of scale. This type of industry requires a large amount of capital equipment. Examples include the car and chemical industries. Hence the public benefits if the LRAC remains constant as output expands because more cars or chemicals are produced at cheap pr ices. †¢If a monopolist invests in research and development the public can benefit from product development. Disadvantages Monopoly can lead to greater inequality in the distribution of income because the monopolist charges a price higher than MC. †¢Again because the monopolist charges above MC it is allocatively inefficient. Underproduction of the product occurs and not enough of the nation’s resources are allocated to its production. Price discrimination The monopolist can discriminate in two different ways: †¢It can discriminate between units sold to the same buyer as in the case of gas or electricity. †¢It can discriminate between different buyers, for example when it charges children and OAPs rates different to that for adults.The monopolist charges consumers different prices in separate markets and, because the costs of production are the same in each market, it is able to increase its profits. [pic] Profit is maximised where MR=MC. In Market A, the demand is less elastic compared to Market B that has a more elastic demand. When the monopolist splits the market and charges a different price in each, it will earn more profits than if it charged one uniform price to all. The monopolist can discriminate in a number of ways: †¢It can charge a different price at different times of the day (like a gas company) or at different times of the week (like a rail company). It can charge different rates to different income groups. Students, the unemployed and OAPs can often get into a football match or a race meeting at a reduced rate. †¢It can charge different prices in different parts of the country. The same house built by a national builder will cost more in the south-east of England than it will in the north-east of England. What enables a monopolist to discriminate effectively? †¢Different buyers in the market must have different elasticities of demand. †¢The market must be able to be sub-divided into separate divis ions according to time, place or income. The monopolist must be able to keep markets separate without great difficulty. Points to note about monopoly: †¢A monopolist will only produce where the demand curve is elastic. MR has to be positive for MC and MR to be equal. †¢The only distinction between short run and long run is in the changes in cost structure of the industry. Barriers to entry prevent us from making the kind of distinctions we can make between short and long run equilibrium in perfect competition. †¢There is no supply curve in monopoly because there is no linear relationship between demand and supply.Student exercises/activities 1. Explain why, for the monopolist, price is always greater than MR. (2 marks) 2. What does the price elasticity of demand facing the monopolist depend upon? (3 marks) 3. Are monopolies always profitable? Justify your answer. (3 marks) 4. State the three conditions that must exist for a monopolist to be able to price discriminate. (3 marks) 5. Draw two diagrams, side by side, to show long run equilibrium under perfect competition and under monopoly equilibrium. Study the diagrams and answer the questions that follow: (a)Prove that the monopolist wastes resources. 2 marks) (b)State why the perfectly competitive firm is allocatively efficient. (2 marks) (c)Explain why the perfectly competitive firm is productively efficient. (d)Describe how profit is shown in the monopolist’s diagram and explain what kind of profit it is. (4 marks) (e)The perfectly competitive firm appears to be making no profit. Is this true? Explain your answer. (3 marks) (f)At what output do both maximise their profits? (1 mark) (g)Identify the supply curve for the perfectly competitive firm and explain why there is no supply curve for the monopolist. 4 marks) (h)Explain how government decides whether or not a monopoly should be allowed to continue. (2 marks) (i)Suggest an action government can take to regulate a monopoly and explain how it might be expected to work. (3 marks) 6. Make definitions of the new terms you have encountered. SECTION 3 Perfect competition and monopoly are two extreme theories of the firm. Remember that earlier we classified all theories other than perfect competition as imperfect. Hence monopoly, oligopoly and monopolistic competition can be described as imperfect competition.Some textbooks describe all theories that exist between the two extremes as imperfect. This classification is also accepted by examiners. What distinguishes oligopoly from monopolistic competition is the number of firms in the industry. An oligopoly has few sellers, whereas in monopolistic competition there are a large number of sellers. Monopolistic competition The theory of monopolistic competition assumes the following characteristics: †¢There is free entry and exit in the industry. †¢The industry is made up of a large number of buyers and sellers. †¢Firms produce differentiated goods. Each firm faces a downward-sloping demand curve because products are not homogeneous. †¢Firms maximise profits in the short run. †¢There is perfect knowledge in the market. Because firms produce slightly different products under different brand names, each firm has a certain amount of market power. Hence a price rise will not result in it losing all its customers. However, because there are a large number of firms producing acceptable substitutes, market power is weak. The more differentiated the product, the greater the market power and so the less elastic the demand curve will be.Equilibrium for a monopolistically competitive firm Short RunLong Run Monopolistic Competition – Short RunMonopolistic Competition – Long Run [pic] In the short run monopolistic competitors earn supernormal profits and will attract new firms into the industry. As in perfect competition these profits will be competed away until in the long run all firms are earning normal profits. The rectang le PXYZ will gradually disappear as each firm’s share of demand falls and its demand curve moves to the left. In the long run the demand curve is a tangent to AC but, unlike perfect competition, it is at a point where AC is falling.How much supernormal profit a firm earns in the short run will depend on its ability to differentiate products by using brand names and advertising. Look how important to consumers designer labels and certain brand names are today! Note that in both diagrams price is greater than MC and so the firm is allocatively inefficient. Again the firm in each diagram does not produce at the lowest point on the AC curve making it productively inefficient. The firm has excess capacity. In the long run two rules hold: †¢AC=AR because freedom of entry ensures that a firm cannot earn supernormal profit; †¢MC=MR because the firm wants to maximise profit.Oligopoly Oligopoly is often described as competition among the few. A few interdependent suppliers co ntrol most industries in our country and so these industries are imperfectly competitive and oligopolistic. What causes an industry that started as competitive to develop in this way? The main reason is to take advantage of economies of scale and in industries like the car industry this has been made possible through technical progress. Barriers to entry and mergers have also played their part in the formation of oligopolies. Oligopoly is difficult to analyse because one firm’s behaviour can cause retaliation from another.Firms continually have to devise strategies to keep them ahead of their competitors. Oligopoly has the following assumed characteristics: †¢A small number of suppliers control most of the market. †¢Barriers to entry are likely to exist, although in some industries they can be low. †¢Firms are interdependent, unlike in perfect competition where firms ignore changes in the behaviour of their competitors. †¢Prices are controlled by the suppl ier not the consumer. †¢A kinked demand curve for the firm is likely to exist, although the demand curve for the industry is normal. The majority of oligopolistic markets tend to have: collusion in some form, although restrictive trade practices have been illegal since 1956; †¢non-price competition in the form of branding, advertising, free offers and after sales services; †¢price rigidity – prices often remain fairly constant despite changes in costs of production, unlike in perfect competition where prices continually fluctuate to monitor such changes; †¢average cost curves tend to be flat-bottomed allowing the firm to take advantage of economies of scale. Oligopoly: the kinked demand curve [pic] The kinked demand curve helps to explain price rigidity that tends to occur under oligopoly.The rival firms tend to agree a market price at X. Demand is elastic above this point and so any rise in price will cause a fall in revenue as consumers buy rival product s. Below X demand is inelastic and a fall in price will cause a fall in revenue and a price war would break out. Hence firms will use non-price competition to maintain or increase their market share. Examples of this include free gifts or coupons when petrol is purchased. This model of oligopoly has its critics. It implies knowledge of MC and MR that firms just do not have. The model does not explain how price was determined or what happens when price is eventually changed.Other firms could react in a number of ways to a change in the price of a competitor’s product not just in the one way that this model assumes. However, it does help to explain why price rigidity occurs and why firms use non-price strategies to maintain market share. Collusion The kinked demand curve model assumes that competitors would react in a particular way. But they could, of course, react in other ways. This uncertainty is a characteristic of oligopoly and it arises because firms in the industry are interdependent. Interdependence means that the oligopolists are always unsure how competitors will react to any action they take.One firm’s actions have consequences for all. Consequently entrepreneurs try to reduce risks by colluding. Collusion takes place in a cartel – for example, OPEC can fix the price or quantity of oil to be offered for sale. Remember such actions are illegal in the UK. The purpose of the cartel is to earn supernormal profits. Price leadership Often in an oligopolistic market one firm will make the first move to change price, usually because costs have risen and profits are falling. Competitors may be in the same position and so are willing to accept the change.This price leader is often the largest firm in the industry and so smaller firms do not challenge its actions. This almost simultaneous change in price is called parallel pricing and of course it makes the kinked demand curve irrelevant. Student exercises/activities 1. Construct a table to compare the four market structures we have studied using the following headings: Market structure, Number of sellers, Restricted entry and exit, Long run supernormal profits and product differentiation. Place these headings horizontally and the four market structures vertically. 2.Suggest reasons why some firms tend towards oligopoly while others tend towards monopolistic competition. (4 marks) 3. Explain why some firms use different methods of non-price competition to increase their market share. (3 marks) 4. Profit maximisation always occurs where marginal revenue is equal to marginal cost. Why is this so? (2 marks) 5. Behaviour in three of the markets we have studied is predictable. Explain why this is so. (4 marks) 6. Using diagrams contrast price and output determination in perfect competition and monopolistic competition in both the short run and the long run. 7.Is price leadership a form of collusion? Discuss. (4 marks) 8. Make definitions of new economic terms. SECTION 4 We have seen how resources are allocated by prices determined by the forces of demand and supply in the market place. We have also seen that some market structures are more efficient than others when it comes to resource allocation. Allocative efficiency is present if the marginal cost of production equals price in all industries. If Price=MC in all industries in an economy, it would be impossible to make any one better off without making another worse off. This allocation of resources is said to be Pareto efficient.Again allocative efficiency exists when an economy uses its resources to produce the goods and services consumers want. Hence one of the main macroeconomic aims of government is to achieve the optimal allocation of resources and that is when resources are efficiently used in such a way as to maximise the welfare of consumers. We saw earlier that only the perfectly competitive market is both productively and allocatively efficient. No real economy is like this. Imperfection s exist in all real economies and they prevent the efficient allocation of resources through the market mechanism.Instead an under-or over-allocation of resources to a certain economic activity takes place. Market failure results. There are four main types of market failure: 1. Externalities. They exist when the action of producers and consumers, other than through the normal workings of the price mechanism, affect not only themselves but also third parties. They can be negative like pollution and congestion. Each is a cost to society. Externalities can be positive, like the benefits society gains from better education and improved medical practice.Negative externalities result in over-production; positive externalities result in under-production. Sometimes prices and profits are not good indicators of the real cost to society of an economic activity and so externalities emerge. Hence alternative systems of allocation need to be considered to obtain a more desired allocation of reso urces. 2. Imperfect competition. In imperfect markets consumers are often at the mercy of oligopolies and monopolies. Governments and trade unions can also influence demand and supply in a market and this leads to inefficiency.It also leads to an unequal distribution of income and wealth. Imperfect markets fail to be efficient and equitable. 3. Market forces cannot provide public goods and often do not do a good job of providing certain merit goods. Again the market has failed to produce what every society needs. 4. Market economies tend to experience sudden business fluctuations. The UK went into recession in 1990–2. Japan has still not recovered from a current recession. Governments are trying to devise tighter monetary policies to avoid the worst extremes of trade cycles.Whenever market failure occurs there has been a re-allocation of resources to some less desired point on the Production Possibility Curve. Consequently government steps in to try to redress the balance. Mo nopoly and government intervention A government can control a monopoly by using price controls. Look at Figure 1. A price control lowers the price to the consumer from P1 to P2 and at the same time increases output from OQ1 to OQ2. Society now benefits from an improvement in allocative efficiency. Figure 1 [pic] A government can impose fines or regulations to correct externality situations.However, a major difficulty that immediately arises before this can be done is to calculate or estimate the value of externalities such as pollution and congestion. Look at Figure 2. If the polluter ignores the pollution then he will produce at Q2 where demand equals supply. However, if the government insists that certain regulations must be complied with, such as installing filters, the supply curve will move to the left because costs have risen. The quantity being produced will now contract to Q1. Consumers are now paying a price that reflects the spill-over cost and over-production has been cor rected.There has been an improvement in resource allocation because the government has taken action against market failure. Figure 2 [pic] Markets can sometimes under-produce as in the case of medical or educational provision. Look at Figure 3. Without grants and subsidies Q1 places would be provided. With grants to students and subsidies to universities and colleges more places can be offered, and many students who have the necessary qualifications can now afford to take up a place. Q2 places are now available and society will eventually benefit from the increased number of educated people.Again government has taken action to correct market failure. Thus we have seen that externalities can be positive or negative and they accrue to a third party. We saw in the case of the chemical firm that negative externalities arose because the firm was concerned only with marginal private costs and ignored marginal social costs. Hence they could produce at a higher output and so create more pol lution and possibly congestion. Market failure occurred and the government intervened to force the firm to address the social cost it caused. In our example the government legally restricted the activity.It could have forced the firm to internalise the spillover or it could have taken over the firm. Again firms consider only marginal private benefit, the benefit that the firm receives. They ignore the spillover benefit that society gains from consuming this good or service, the marginal social benefit. It gave grants and subsidies. It could have given tax incentives or even taken over the service and provided it free. Consequently government steps in to increase this under-production and remove the welfare loss that results from free market equilibrium. See Figure 3. Figure 3 [pic]Student exercises/activities 1. Explain how the actions of large corporations and trade unions can influence demand and lead to non-optimal allocation of resources. (3 marks) 2. Examine the case for provid ing a) public goods, and b) merit goods free to the consumer. (6 marks) 3. Why might some economists argue against providing products free to the consumer? (3 marks) 4. Why does free market equilibrium not always represent the true cost of production? (3  marks) 5. At what point is the optimum level of production of a public good reached? (2 marks) 6. Make definitions of new economic terms.SECTION 5 Guideline answers (Perfect competition) 1. There are four basic assumptions underpinning the theory of perfect competition. Do they hold for the agriculture industry? In the UK there are a large number of farmers supplying the market. No farm is large enough to influence price, so this characteristic holds. Farms are relatively easy to buy, especially today because of falling profit margins. Hence exit and entry in the industry are unrestricted. Knowledge of prices and market conditions are good because of constant updating by the farming press using modern technology.Hence knowledge i s as perfect as it can be. Products are fairly homogeneous. Bramley apples from one orchard are almost identical to Bramley apples from another, although you could argue that quality/grade of products does vary. Hence there is a fairly strong case to support the statement. 2. (a)Because only above S1 is revenue greater than AVC and only then will the firm be able to make some contribution to fixed costs. (b)At this price the firm makes zero short run economic profit. At this point MR=MC=ATC. The break-even price is the one that yields zero short run profit or loss. c)The opportunity cost of keeping capital in the firm is moving it to the next best earning alternative. Normal profits are just enough to make it worthwhile to keep the capital in the firm. Consequently it is the amount an entrepreneur would earn in an alternative occupation and so is transfer earnings. (d)No. The amount necessary to keep capital in a firm in one area is not the amount necessary to keep capital in a simi lar industry in another area. Costs could be different. (e)Economic profits or losses are signals to owners of capital elsewhere in the economy that they too should enter the industry.If some firms are making losses, this is a signal to entrepreneurs to stay out of the industry. It also signals to existing firms to be cautious about re-investing. However, in the long run in a perfectly competitive market only normal profits can be earned and so no such signals are given. (f)They must be constant. Guideline answers (Monopoly) 1. Profit maximisation takes place where MC=MR but not where they intersect. The price is fixed on the demand curve and so price must be greater than MR. 2. It depends on the number and closeness of the substitutes.The more numerous and closer the substitutes, the greater the price elasticity of demand and vice versa. 3. No. In the UK, the former British Rail turned in poor figures for many years. If the ATC curve is everywhere above the demand curve, losses wil l result and so it will not be profitable to produce. 4. Firms must have some market power – it is a price maker. Firms must keep markets separate. The buyers in each market must have different elasticities of demand. 5. (a)The monopolist does not need to minimise costs to stay in business. Consequently it is productively inefficient and so wastes resources. b)It produces at a point where Price=MC. (c)A perfectly competitive firm produces at the lowest point of the AC curve and so is efficient. (d)Profit is shown by the rectangle sitting above the AC curve bounded by price and output. It is supernormal or economic profit. (e)No. It makes normal profit that is included in ATC. (f)Where MC=MR. (g)In the short run the supply curve of the firm is the MC curve above the point where Price=AVC. In monopoly there is no supply curve that is independent of demand. (h)The Monopolies and Mergers Commission investigates potential monopoly situations.It could force a monopoly to disband if they considered it to be against the public interest. The criterion is rather vague. (i)It could control prices or force it to work under a licence. Controlled prices would curb monopoly power of fixing too high a price and a limited quantity of production that would both exploit consumers. Again the government would not renew the licence unless the monopoly had performed within the given controls. Guideline answers (Imperfect competition) 1. Construct table from textbook. 2. It depends on the number of firms in the industry and on the strength of market power. 3.A price war can be very damaging for firms in an oligopolistic market. Instead they tend to restrict competition rather than attempt to drive main competitors out of the industry by reducing price. Advertising and branding is used to restrict competition. 4. At that output there is the greatest difference between total revenue and total cost and so profit is maximised. 5. Markets of perfect competition, monopoly and monopo listic competition are predictable because in them firms act independently. However, this is not so in an oligopolistic market. Firms are independent – one firm’s actions affect competitors.This leads to uncertainty. 6. Draw diagram, then list main differences: Perfect competitionMonopolistic competition Short runShort run Supernormal profits and lossesSupernormal profits and losses Demand curve slopingDemand curve horizontal Long runLong run Normal profitsNormal profits Produces at the lowest point Does not produce at the lowest of the AC curvepoint of the AC curve Price=MCPrice does not equal MC 7. Price leadership occurs often in an oligopolistic market. It could appear to be collusive because, after a dominant firm raises price, others soon follow. However it is not planned.The dominant firm is acting as a barometer for the rest of the industry that is experiencing the same pressures that caused the leader to alter price in the first place. The firms have not collu ded. Guideline answers (Resource allocation) 1. Large corporations can manipulate by spending large sums on advertising and that allows them to sell what they produce rather than what consumers want to buy. Strong trade unions, through industrial action and lobbying, can often get restrictions on imports and subsidies for industries such as coal mining and agriculture. Demand is influenced and so resources are not allocated in the best way. 2.Public goods like defence and law and order are demanded collectively and not individually because they are non-excludable. Hence most people think that they should be paid for out of public taxation and be free to the consumer. However, merit goods like health and education are private goods that can be bought and sold in the market place. They are usually under-consumed when externalities are taken into account and so the argument is that the government should intervene because of the external benefits more consumption would bring to society. Hence the case for providing merit goods is not as strong as the case for providing public goods. . They would argue that it would lead to the misallocation of resources. If the good were free to consumers, they would consume up to the point where marginal utility is zero. Here the marginal cost of producing the last unit will be high and inefficiency will result. Consequently goods should not be provided free at the point of consumption. 4. Because social costs and social benefits must be added to private costs to represent true cost. 5. It occurs at the point where there is the greatest excess of total social benefit over total social cost, or where marginal social benefit is equal to marginal social cost.

Did the benefits of Stalin’s economic policies justify their implementation?

In 1928, Russia was poor and her industry was smaller than many countries. Stalin aimed to transform this and turn Russia into a powerful and strong nation. He wanted to create a modern industry so Russia was less dependent on the western world and could catch up with America. He also wanted to protect Russia so the were military strong in case of war and they had a strong industry capable of producing good armaments so they had defence in case of attack. Stalin aimed to re-organise agriculture to produce food so Russia could trade with Europe and America so they could get money to buy raw materials and machinery. He wanted to feed Russia's population. Stalin also aimed for Russia to become self-sufficient. In order to develop Russia's industry rapidly, Stalin organised this planning with the ‘Five-Year Plans'. There were three plans which determined how and when things were produced and how prices and wages were determined. The benefits of these plans were that the production of coal and iron increased quickly. Huge new industrial complexes were built like the Magnitogorsk, the Belomor Canal, railways and motorways. These all were showpieces of Soviet achievement. They had great facilities and steel and iron production was increasing. Defence and armaments grew rapidly also. Transport and communications grew and electricity production expanded. Overall industrial output went up by over 50% and Russia became the second in gross industrial output worldwide. By 1937, Russia was virtually self-sufficient. However, there were economic disadvantages as a result of the ‘Five-Year Plans'. Targets were too high so factories lied about their production levels. Products were bad quality because there was a lack of skilled workers and they didn't have good equipment. Some industries were over-producing and others under-producing so many factories ran short of materials. Un-skilled workers and ex-peasants made mistakes, but these mistakes weren't admitted but blamed on ‘wreckers' and ‘saboteurs'. Oil production failed to meet targets and led to fuel crisis. The lack of skilled workers created instability because they were constantly changing jobs. The effects on the people as a result of the ‘Five-Year Plans' were very bad. In the building of the Magnitogorsk, working conditions was dangerous. The workers got little food, and the bubonic plague was common. Vermin and bed bugs were at risk also. Sanitary conditions and heat was intolerable. It was a bad organisation of labour. Workers were paid minimum wages and food was rationed but it improved by the mid-1930s. There were millions of peasants so housing became impossible. Most families had to live in overcrowded shabby buildings. There was also a shortage of clothing and consumer goods. Many peasants were sent to Gulag (a force labour camp) if they did not fulfil Stalin's wishes. Collectivisation was a method of farming to make it more efficient in which people can use more machinery. It was the Socialist way to farm the land. The idea was that the peasants' would share their land and work together to form a collective farm. All the grain produced was shared also. This was an easy method for the state to get grain. The grain needed for industrialisation was obtained because a lot was produced rapidly. Wheat, cotton and vineyards were increasing by more than 600 hectares also. Overall more food was produced and it was easier to introduce modern machinery. Tractors began to be produced in quantities and the ‘economies of scale' method started. Generally, agricultural production rose. However, collectivisation had its disadvantages. If peasants refused to join the collective, they were shot by activists or sent to Gulag. This caused violence to erupt and riots occurred. There were severe food shortages although food was being exported from Russia to other countries. A lot of disruption was caused to agriculture and there was disastrous harvest. The result of this was famine, which the state never admitted existed. Stalin began to demand gangs to take the small amount of grain, which was kept in stores or left to rot whilst people starved to death. Russia eventually did become an industrially modernised nation. Although there was terrible famine and kulaks (rich peasants) suffered, most people benefited. Large complexes were made, there were good facilities and agriculture had improved. Russia became self-sufficient and independent. Te human costs were high as many people died because of the famine and living conditions. But Hitler became a threat and Russia didn't have enough protection in case of war.

A Biography of Geographer Ellen Churchill Semple

A Biography of Geographer Ellen Churchill Semple Ellen Churchill Semple will long be remembered for her contributions to American geography despite her association with the long-disregarded topic of environmental determinism. Ellen Semple was born in the midst of the Civil War in Louisville, Kentucky on January 8, 1863. Her father was a fairly affluent owner of a hardware store and her mother took care of Ellen and her six (or possibly four) siblings. Ellens mother encouraged the children to read and Ellen was especially enamored with books about history and travel. As a young person, she enjoyed horseback riding and tennis. Semple attended public and private schools in Louisville until she was sixteen when she headed off to college in Poughkeepsie, New York. Semple attended Vassar College where she earned her bachelors degree in history at the age of nineteen. She was the class valedictorian, gave the commencement address, was one of thirty-nine female graduates, and was the youngest graduate in 1882. Following Vassar, Semple returned to Louisville where she taught at the private school operated by her older sister; she also became active in local Louisville society. Neither teaching nor social engagements interested her enough, she desired much more intellectual stimulation. Fortunately, she had a chance to escape her boredom. To Europe In an 1887 trip to London with her mother, Semple met an American man who had just completed a Ph.D. at the University of Leipzig (Germany). The man, Duren Ward, told Semple about a dynamic professor of geography at Leipzig named Friedrich Ratzel. Ward loaned Semple a copy of Ratzels book, Anthropogeographie, which she immersed herself in for months and subsequently decided to study under Ratzel at Leipzig. She returned home to finish work on a masters degree by writing a thesis titled Slavery: A Study in Sociology and by studying sociology, economics, and history. She earned her masters degree in 1891 and rushed to Leipzig to study under Ratzel. She obtained accommodations with a local German family in order to improve her abilities in the German language. In 1891, women were not allowed to be enrolled in German universities although by special permission they could be allowed to attend lectures and seminars. Semple met Ratzel and obtained permission to attend his courses. She had to sit apart from the men in the classroom so in her first class, she sat in the front row alone among 500 men. She remained at the University of Leipzeg through 1892 and then returned again in 1895 for additional study under Ratzel. Since she could not enroll at the university, she never earned a degree from her studies under Ratzel and therefore, never actually obtained an advanced degree in geography. Although she Semple was well-known in the geography circles of Germany, she was relatively unknown in American geography. Upon returning to the United States, she began to research, write, and publish articles and began to gain a name for herself in American geography. Her 1897 article in the Journal of School Geography, The Influence of the Appalachian Barrier upon Colonial History was her first academic publication. In this article, she showed that anthropological research could indeed be studied in the field. Becoming an American Geographer What established Semple as a true geographer was her outstanding field work and research into the people of the Kentucky highlands. For over a year, Semple explored the mountains of her home state and discovered niche communities that had not changed much since they were first settled. The English spoken in some of these communities still carried a British accent. This work was published in 1901 in the article The Anglo-Saxons of the Kentucky Mountains, a Study in Antropogeography in the Geographical Journal. Semples writing style was a literary one and she was a fascinating lecturer, which encouraged interest in her work. In 1933, Semple disciple Charles C. Colby wrote about the impact of Semples Kentucky article, Probably this brief article has fired more American students to interest in geography than any other article ever written. There was a strong interest in Ratzels ideas in America so Ratzel encouraged Semple to make his ideas known to the English-speaking world. He asked that she translate his publications but Semple did not agree with Ratzels idea of the organic state so she decided to publish her own book based on his ideas. American History and Its Geographic Conditions was published in 1903. It gained wide acclaim and was still required reading in many geography departments across the United States in the 1930s. Continue to Page Two Her Career Takes Off The publication of her first book launched Semples career. In 1904, she became one of the forty-eight charter members of the Association of American Geographers, under the presidency of William Morris Davis. That same year she was appointed Associate Editor of the Journal of Geography, a position she retained until 1910. In 1906, she was recruited by the countrys first Department of Geography, at the University of Chicago. (The Department of Geography at the University of Chicago was established in 1903.) She remained affiliated with the University of Chicago until 1924 and taught there in alternating years. Semples second major book was published in 1911. Influences of Geographic Environment further expounded on Semples environmental deterministic viewpoint. She felt that climate and geographic location was the major cause of a persons actions. In the book, she cataloged countless examples to prove her point. For example, she reported that those who live in mountain passes are usually robbers. She provided case studies to prove her point but she didnt include or discuss counter examples that could prove her theory wrong. Semple was an academic of her era and while her ideas can be considered racist or exceedingly simple today, she opened up new arenas of thought within the discipline of geography. Later geographic thought rejected the simple cause and effect of Semples day. That same year, Semple and a few friends took a trip to Asia and visited Japan (for three months), China, the Philippines, Indonesia, and India. The trip provided a tremendous amount of fodder for additional articles and presentations over the next few years. In 1915, Semple developed her passion for the geography of the Mediterranean region and spent much of her time researching and writing about this portion of the world for the remainder of her life. In 1912, she taught geography at Oxford University and was a lecturer at Wellesley College, the University of Colorado, Western Kentucky University, and UCLA over the course of the next two decades. During World War I, Semple responded to the war effort as did most geographers by giving lectures to officers about the geography of the Italian front. After the war, she continued her teaching. In 1921, Semple was elected President of the Association of American Geographers and accepted a position as a Professor of Anthropogeography at Clark University, a position she held until her death. At Clark, she taught seminars to graduate students in the fall semester and spent the spring semester researching and writing. Throughout her academic career, she averaged one important paper or book each year. Later in Life The University of Kentucky honored Semple in 1923 with an honorary doctorate degree in law and established the Ellen Churchill Semple Room to house her private library. Stricken with a heart attack in 1929, Semple began to succumb to ill health. During this time she was working on her third important book - about the geography of the Mediterranean. Following a lengthy hospital stay, she was able to move to a home adjacent to Clark University and with the help of a student, she published Geography of the Mediterranean Region in 1931. She moved from Worcester, Massachusetts (the location of Clark University) to the warmer climate of Ashevlle, North Carolina in late 1931 in an attempt to restore her health. Doctors there recommend an even milder climate and lower elevation so a month later she moved to West Palm Beach, Florida. She died in West Palm Beach on May 8, 1932 and was buried at the Cave Hill Cemetery in her hometown of Louisville, Kentucky. A few months after her death, the Ellen C. Semple School was dedicated in Louisville, Kentucky. Semple School is still in existence today. The University of Kentucky Geography Department hosts an Ellen Churchill Semple Day every spring to honor the discipline of geography and its accomplishments. Despite Carl Sauers assertion that Semple was a mere American mouthpiece for her German master, Ellen Semple was a prolific geographer who served the discipline well and succeeded despite tremendous obstacles for her gender in the halls of academia. She definitely deserves to be recognized for her contribution to the advancement of geography.

Voting Behavior essays

Voting Behavior essays In the 2000 presidential election the public looked at each of the candidates personal traits and their issues in order for them to decide, who they thought would be the best person to be the President of the United States of America. Most voters said that they were most concerned with the candidates issues, however when it came right down to it the voters were most concerned with the candidates personal traits. Thus they based their votes on which candidate they liked better based on their personal traits. One personal trait that they based their vote on was the candidate's competence. For most people, they stuck with the candidate that was representing the party that they belonged to. However, the Independent party voted for George W. Bush believing that he was the candidate that had the most competence. Thus, the overall public believed that Bush had the competence than Gore. The media played an important role in the way that the public saw the candidates. The media in the 2000 presidential election campaign had a big influence on the way in which the candidates were portrayed, especially when it came to their issues and personal traits. One particular trait that the public focused on was that of the candidate's competence. A reason that the public paid more attention to what was being said about each candidate was that there was more televised coverage than there has been before. The public believed that a certain candidate was receiving the most biased coverage against him, and that candidate happened to be Bush, with Gore in second place, Nader in third, and Buchanan in fourth. During a survey done before the election there was a question, which asked the public which of these candidates do you think would have the best chance of winning the election in November? The candidate that had the most votes was in fact Bush. Another reason for the media having had such a big influence on the election was that the press...

November Writing Prompts for Journaling

November Writing Prompts for Journaling November is a great month to step back and count our blessings. The month offers a range of activities, many associated with football and meals and family. Here are writing prompts, one for each day of the month of November. These prompts been chosen to highlight special days throughout the month. These can be used as daily warm-ups, journal entries, or opportunities for speaking and listening.  Thanksgiving  does not have a date, as it is always the fourth Thursday in November. For this holiday, a great prompt would be: What are five things that you have to be thankful for? November Holidays Aviation MonthChild Safety and Protection MonthLatin American MonthNational Model Railway MonthNational Novel Writing Month   Speaking and Listening Opportunity Participate in  Storycorps  The Great Thanksgiving Listen.​The Great Thanksgiving Listen is a national movement that empowers young people- and people of all ages- to create an oral history of the contemporary United States by recording an interview with an elder. To date, thousands of high schools from all 50 states have participated and preserved more than  75,000 interviews, providing families with a priceless piece of personal history. Writing Prompt Ideas November 1 - Theme: National Authors Day. Who is your favorite author? Why do you like his or her writing?November 2 - Theme: Cookie Monsters birthday. Which of the Sesame Street characters was your favorite as a child? Why?November 3 - Theme: Sandwich Day. Whats your idea of a perfect sandwich? Whats on it? What type of bread would it have? Describe it in detail.November 4 - Theme: End of daylight savings time. Do you think that America should continue to observe daylight savings time? Why or why not?November 5 - Theme: National Donut Day. Use your five senses to describe your favorite type of donut.November 6 - Theme: Voting. What are your feelings about voting? Is it something you look forward to doing or do you not really care? Explain your answer.November 7 - Theme: Magazine Day. Pretend you are creating a new magazine. What would it be about? What type of features would it include? Make sure to give your magazine a name. If you were going to create a magazine, what would it be called, and November 8 - Theme: X-Ray Day. Have you ever had to have an x-ray? If so, what was it for? Describe what happened to cause your injury. If you never had an x-ray, write about your worst injury.November 9 - Theme: Parade Day. Write a poem or a short piece of prose about a parade. It can be serious or humorous, your choice.November 10 - Theme: National Novel Writing Month. If you were going to write a novel, what would it be about? What would its title be?November 11 - Theme: Veterans Day. Describe at least three ways that you can honor veterans who have served in Americas armed forces.November 12 - Theme: Nuclear energy. Which type of energy do you think America should focus on for the future: solar, wind, fossil fuel, or nuclear? Explain your answer.November 13 - Theme: World Kindness Day. Describe an instance where someone was really kind to you. How did it make you feel?November 14 - Theme: Childrens Day (India). In India, November 14th is Childrens Day. Do you think that America s hould institute a special day set aside as childrens day? Explain your answer. November 15 - Theme: National Recycling Day. Do you believe that people should be penalized if they dont recycle? Explain your answer.November 16 - Theme: Scorpios. According to the Astrological calendar, people born on November 16th are Scorpios.  Do you believe in astrology and sun signs? Why or why not?November 17 - Theme: International Students Day. Would you ever consider studying in another country? Why or why not?November 20 - Theme:  National Peanut Butter Fudge Day. What food combinations do you think are delicious such as the combination of chocolate and peanut butter?November 21 - Theme:  National Stuffing Day. Stuffing is one of the most traditional foods for a holiday. What are some of the foods you associate with the holidays?November 22 - Theme: National Start Your Own Country Day. Pretend you have decided to start your own country. Give your country a name. Describe what symbols and colors would be on its flag. Finally, write about at least three protections gua ranteed to all citizens. November 23 - Theme: National Espresso Day. What kind(s) of food gives you a boost of energy?November 24 -Theme:  National Native American Heritage Day. What do you know about the Native American tribes who lived in your area? OR Read a Native American myth or folktale. How is this story like or unlike other cultural myths or folktales?November 25 - Theme:  National Parfait Day. Parfaits are desserts created with layers of sweets, but they can serve as a metaphor for someone who has different talents or layers of ability.  What kinds of layers do you have?November 25 - Theme: National Cookie Day. If you are not tired of all the holiday food options in November, then write about your favorite kinds of cookies.November 27 - Theme: Celebrities. If you had the ability to meet one celebrity, who would it be? Why?November 28 - Theme: Red Planet Day. If it was announced that a new colony was being planned on Mars, would you want to join it? Why or why not?November 29 - Theme: King Tut s Tomb Opened. Do you believe that something like the curse of the mummy against those who opened old Egyptian tombs really exists? Why or why not? November 30 - Theme: Dinner Party. If you were going to have a dinner party and could invite five historical figures, who would you choose? Explain why you would invite each one.

The Giver by Lois Lowry Essay Example | Topics and Well Written Essays - 500 words

The Giver by Lois Lowry - Essay Example Theirs is a rigidly controlled society where there is no suffering, hunger, war and also no color, sex, music or love. The â€Å"Elders† controls everything like who will become husband and wife, the son and daughter they will receive to take care of and the job to be assigned at the proper time which is at twelve years of age. A person can be released from the community if he is really old, a sick infant or those persons who break the rules. Jonas discovers after a year of training that people being released were actually being given lethal injection. Jonas was angered by such discovery so he, together with the Giver, devised a plan of escape for Jonas together with Gabriel, the sick baby who is to be released through lethal injection the next day. But then, their plan did not work out. In trying to escape, Jonas experience so much hardships and starvation. The reader is left to interpret it the way he looks at how the story ended. Being a book critic, he said that he likes the book because it could entertain the reader. He gave as example the way Jonas first experience happiness, pain and sadness. According to him it’s funny at how Jonas felt simple things like seeing and feeling snow and feeling the warmth of the sun turn incredible for him. He also wanders what love is when given the memory of love by the Giver who told him that it’s his favorite emotion. Another instance is when Jonas wonders hoe life in his world will be if it is filled with colors and memories and emotion. This critic also said that to show true emotion, the author showed a tearful Jonas when he found out that his father, a doctor, administers lethal injection to infants who are released from the community for being sick and weak. Because of this, he does not want to live with his father who is a killer. Another example is when Jonas begins to fall in love with Fiona, his friend whom he saw naked in his dream. The book also relays a good message saying that war is bad

Intercultural Communication in the Workplace Essay - 1

Intercultural Communication in the Workplace - Essay Example These standards included graduation from an accredited university within certain specified fields of study. There were minimum grade point averages established as well as minimum levels of English-language proficiency. In addition, all hires were expected to have at least five years of relevant sales and marketing experience. In all, there were to be eighteen local hires in Thailand. These staffing standards were established at a meeting six months previously at the corporation’s Los Angeles headquarters. Present at that meeting were the Vice President for Human Resources, his assistant, and a Thai national hired to run the regional headquarters in Bangkok. The staffing standards were communicated orally and in a formal written set of job descriptions. The Thai national had graduated from a reputable American university, had worked for the corporation in Los Angeles for six years, and spoke English fluently. There appeared to be no problems until profiles of the proposed new h ires in Thailand were sent to Los Angeles for confirmation. In short, the American Vice President was not happy. He was not happy because the minimum standards for screening and hiring new employees in Thailand were ignored. The proposed hires did not graduate from reputable universities; indeed, three were graduates of a police college. More, academic transcripts showed that many of the proposed hires were, at best, mediocre students. There was no evidence of English-language proficiency and the minimum sales experience requirements had similarly been ignored. There were also a surprising number of the same surnames; as it turned out, a number of people from the same families had been proposed as local hires. The Vice President was furious because the Thai employee seemed to have thrown his instructions out the window. How did this problem arise? To be sure, there were explicit oral

Training Plan Assignment Example | Topics and Well Written Essays - 1500 words - 1

Training Plan - Assignment Example We will be using online skill tests, shadowing/role play, and individual learning to properly train a new hire for this position. The full extent, including on-going training can take up to 6 months. The role of customer service at Sport Chek is responsible for acting as a link between customers and the company. The main roles include assisting with orders, complaints, errors, billing, account questions, and cancelations. There are a variety of resources needed to properly train new employees including space, computers, printer/paper, online training modules and of course, time. All in all, the new hire will cost approximately $1000, which shows how important employee retention is. The training objectives are used to equip the newly acquired personnel with the knowledge, skills, and abilities that ensure they will be a productive part of the customer service force at Sport Chek. The new trainee should have the ability to communicate effectively with coworkers and customers, to start conversations with customers, to analyze and solve problems, and have the basic computer skills to work a register (POS system). The knowledge of general sports, sports fashion/ attire, and outdoor activities are essential. The trainee must also have the ability to learn through observations and hands on experience. In order for sports industry to meet the changing needs of demographic, it is essential that new trainees become more dynamic, flexible and innovative with knowledge of general sports, sports fashion/ attire, and outdoor activities. New employees of Sport Check must understand that the firm is the leading retailer of sporting goods in Canada. Therefore, having the privilege to work in the merchandise store exposes the employee to the greatest product brands that exist across the globe. All new employees of Sport Check merchandise store should have a

Understanding Journal Content and Style Essay Example | Topics and Well Written Essays - 1500 words

Understanding Journal Content and Style - Essay Example Understanding Journal Content and Style Our daily activities and exposure to different tasks affect our tolerances to human fatigue and performance. Given this condition, the word subjective throughout the paper suggests the individual capabilities of people (who are the subjects of the study) to be exposed to the different reading media used. Each individual within the study were recognized to have their own representation and interpretation of human fatigue and performance. This aspect is basically affected by one's ability to put up with the factors being studied in the paper. This also means that the results gathered from participants of the study are directly affected by human fatigue and performance, which are the significant elements in the study. The use of subjective measures in a project may encourage criticisms such that the results obtained from these kinds of measure may depend on several factors directly affecting the variables in the study - in this study's case the individuals who have their differences in interpreting the subject being studied. In effect, the results of the study may vary and the possibility of obtaining inaccurate measurement or results is higher. Moreover, subjective measures are to obtain non-precise quantity that would apply to the issue being studied. In contrast to an objective means of getting the desired result, there is an exact measurement, thus the outcomes are accurate. The varied reading duration that was allowed for the participants in the study may as well be subjected to criticisms since their reading capabilities were not measured first. As simple as this issue may seem for the study as a whole, however, it could still create a relatively huge margin of error for the research result. In addition, even as the reading materials were of general interest, the subjects (participants) may have varying opinions as to what the term 'general' means to them. As a result, they may have different reactions and attitudes as well towards the articles provided for them. (3) On the first page (INTRODUCTION, column 2, line 14) the author writes: "Others have allowed critical variables to become confounded so that their results are difficult to interpret". What do you understand by the term confounded in this context Based from the statement that precedes this sentence, it could be inferred that the term confounded could mean complex. As the preceding sentence state that "Some investigators have not described their displays, stimulus materials, workplace, environment, and procedure in enough detail to permit meaningful comparisons with other research," it suggest that in order to vagueness and ambiguity prevent the readers from asking more questions as well as comparisons with other researches with the same perspective. Moreover, the next sentence also suggest that while ideas in a research becomes complex and composite to even comprehend, the more that its readers become more likely not to ask further questions regarding the process of obtaining the results of the study. The term confounded in this study also implies that the more complicated the variables in a research become, the more that the results become too difficult to be interpreted

SEMCO Company Strategy Essay Example | Topics and Well Written Essays - 1750 words

SEMCO Company Strategy - Essay Example Therefore, this paper will bank on a critical explanation of the applications of schools of strategy that are exploited in SEMCO. Different companies use different strategies to record their preferred results. In many instances, companies have to advocate for development and deploy skills that will be used in recording positive growth. This is done by ensuring the people that are employed are competent in their work and use their skills accordingly.. This is due to the ever evolving market. As such, the market needs to be encountered with different strategies. This is also heightened by developing and deploying strategic flexibility, which is directly reflected towards technological advancement. For instance, with the improvement in technology, many companies have to improve. This is by using technological advancement in their service provision. In recent times, many companies have been noted to invest heavily in acquisition of new machinery and equipment (Furrer, 2010:34). This is n ot a point to brag, but it is an advancement to make service provision even better. Purchase of new technology ensures a company’s production is improved in quality and quantity. Similarly, the goods that are produced will be of increased value (Semler, 2000:54). This will prompt customers and clients to use more of the goods. With such a drill, a company is most likely to record positive results, which increases its financial muscle. As a matter of fact, SEMCO decided that its environment was a core factor that could lead to its grater performance. As such, changing the environment would be a prudent idea in increasing its performance. This is garnered from the learning school of view, which banks on making a positive environment in business (Kazmi, 2008:56). In making this a reality, the firm encouraged the staff and management to exchange idea oh=n how the firm could make an improvement. This is an opportunity where all the staff members are given an opportunity to express their views on how performance of the organisation could improve. As such, the organisation has a pool of ideas to choose from. With such a large pool of ideas, the organisation has a better position of implementing the best. This is a position that many organisations do not have but they will never try such a manoeuvre, minding the risks that are involved (Jansson, 2008:23). This was followed by the practical part of experimenting ideas that cropped up in the organisation. Since organisations do not engage in risky activities, they have to study and evaluate the viability of the activities. This was heightened by research and exchange of ideas to ensure the best routine was designed (D'Angelo, 2009:52). With time, SEMCO had obtained competent skills and had competent personnel that could direct the investments. As such, they were prepared to exploit all the available loopholes in businesses. As such, the business was growing at a steady rate. SEMCO Company has been recording succe ssful results in the market, yet it does not have a written strategy or plan. However, it has deployed the prescriptive school strategy, which is about planning, designing and positioning. It is in the market and making a positive accrual due to its activities that are concentrated on the customer market. With such a drill, the company is on the verge of making lucrative profits that are not linked to any strategy that is in writing or planned (Suneja, 2002:13). SEMCO Company planned that its businesses should be increasing in each financial year. However, it did not strategise on its expansion rate to a particular point. In such a drill, it ensured that transformation would continue in every year (Semler, 2000:55). For

The Relationship of Human Animals versus Other Animals Article

The Relationship of Human Animals versus Other Animals - Article Example The book explains that there are many cases of chimps being raised up in a similar manner to the human children. The entire novel is thus based on these issues. Several novels explain the aspects of the cross fostered chimps. For example, The Ape and the Child describe the Kelloggs, Next of Kin discusses the Washoe, and also the Ape in Our House illustrates Viki Hayes. Nim Chimpsky is illustrated in the novel, The Chimp Who Would Be Human. Maurice Termerlin authored a book referred to as the Lucy, Growing Up Human. The author, Karen Fowler, illustrated adequate knowledge on the chimps. One analyzed area involved the environments that the chimps reside in. These environments are diverse and they include the laboratory environment, the preserve environment, and the natural o wild environment. The knowledge acquired by the author on the chimps aimed at understanding the behavior of Fern, through the nonfiction accounts. The author also participated in the chimposeum, which took place in Chimpanzee and Human Communication Institute that is based in Washington, so as to study the chimps that reside there (World Fantansy Convention 207). The literary work applies the technique of developing stories from the middle. Lowell explains to her sister Rosemary the issues surrounding the scientific works of her father. Lowell illustrates that their father assumed the uniqueness of Fern from the human, through a careful and scientific approach. Thus, Fern had the chance of proving herself in all stages. Lowell explains that it would also be scientifically acceptable to begin from the other end; assume the similarities between Fern and the human children, and then show the difference evidence. This would have been relatively Darwinian, according to the kinship assumption. The reader is expected to view the kinship assumption in a similar manner.

SEMCO Company Strategy Essay Example | Topics and Well Written Essays - 1750 words

SEMCO Company Strategy - Essay Example Therefore, this paper will bank on a critical explanation of the applications of schools of strategy that are exploited in SEMCO. Different companies use different strategies to record their preferred results. In many instances, companies have to advocate for development and deploy skills that will be used in recording positive growth. This is done by ensuring the people that are employed are competent in their work and use their skills accordingly.. This is due to the ever evolving market. As such, the market needs to be encountered with different strategies. This is also heightened by developing and deploying strategic flexibility, which is directly reflected towards technological advancement. For instance, with the improvement in technology, many companies have to improve. This is by using technological advancement in their service provision. In recent times, many companies have been noted to invest heavily in acquisition of new machinery and equipment (Furrer, 2010:34). This is n ot a point to brag, but it is an advancement to make service provision even better. Purchase of new technology ensures a company’s production is improved in quality and quantity. Similarly, the goods that are produced will be of increased value (Semler, 2000:54). This will prompt customers and clients to use more of the goods. With such a drill, a company is most likely to record positive results, which increases its financial muscle. As a matter of fact, SEMCO decided that its environment was a core factor that could lead to its grater performance. As such, changing the environment would be a prudent idea in increasing its performance. This is garnered from the learning school of view, which banks on making a positive environment in business (Kazmi, 2008:56). In making this a reality, the firm encouraged the staff and management to exchange idea oh=n how the firm could make an improvement. This is an opportunity where all the staff members are given an opportunity to express their views on how performance of the organisation could improve. As such, the organisation has a pool of ideas to choose from. With such a large pool of ideas, the organisation has a better position of implementing the best. This is a position that many organisations do not have but they will never try such a manoeuvre, minding the risks that are involved (Jansson, 2008:23). This was followed by the practical part of experimenting ideas that cropped up in the organisation. Since organisations do not engage in risky activities, they have to study and evaluate the viability of the activities. This was heightened by research and exchange of ideas to ensure the best routine was designed (D'Angelo, 2009:52). With time, SEMCO had obtained competent skills and had competent personnel that could direct the investments. As such, they were prepared to exploit all the available loopholes in businesses. As such, the business was growing at a steady rate. SEMCO Company has been recording succe ssful results in the market, yet it does not have a written strategy or plan. However, it has deployed the prescriptive school strategy, which is about planning, designing and positioning. It is in the market and making a positive accrual due to its activities that are concentrated on the customer market. With such a drill, the company is on the verge of making lucrative profits that are not linked to any strategy that is in writing or planned (Suneja, 2002:13). SEMCO Company planned that its businesses should be increasing in each financial year. However, it did not strategise on its expansion rate to a particular point. In such a drill, it ensured that transformation would continue in every year (Semler, 2000:55). For

Critical review and comparison of 2 refereed and related journal Literature

Critical and comparison of 2 refereed and related journal articles in the field of business information management - Literature review Example 1st journal -strengths The paper ‘Customer Perspectives on E-business Value: Case Study on Internet Banking’ written by Rahmath Safeena from its title reflects an important issue in the modern banking sector exhibited by the author. Along with that the author have also used keywords like internet banking, information and communication technology (ICT); perceived usefulness, ease of use, risk, awareness which are appropriate in examining the customer’s perspective (Safeena, 2010, p.5).Before moving into the discussion of the subject matter with in depth analysis, a brief literature review has been provided by the author reflecting various aspects of internet banking (Safeena, 2010, p.6). Identification of the research methodology is a crucial factor in executing research in a rigorous manner on a particular topic and also helps to deliver robust inferences. In this paper the process of the Technology Acceptance Model (TAM) is being used for analyzing the extent of the acceptance of the internet banking system by the customers. The incorporation of the TAM model is a judicious application for reflecting the perspective of the customers related to the internet banking system (Safeena, 2010, pp. 6-7). ... Empirics also reveal that there has been a positive correlation between the above two variables in the study of internet banking (Safeena, 2010, p.7). Applying proper statistical techniques it has been also found that when the online banking is perceived as useful then the customers are prone towards using internet banking. The findings state that usefulness, ease of use and risks are the prime parameters which affect positively the acceptability of the internet banking procedures (Safeena, 2010, pp.8-11). 1st journal -Weaknesses The author have mentioned description of different types of internet banking as well as different security issues in the literature review part but have included all the references which are old in their year of publication which are majorly around the year 1999-2000 and one or two references in the recent years like 2006 (Safeena, 2010, p.7). Again, in the strength section the process of TAM is mentioned which is indeed a good method of executing the resear ch. But still this process suffers from some limitations. The first limitation is attached with the explanatory power of the model. Empirical results also found that the existing studies account for less than 60% of the variance explained especially those used by the professional users (Sun & Zhang, 2006, p.53). The sample used in for the purpose of research is students of business and economics students of an educational campus. But studying only the perspectives of the students will not provide any general conclusions about the overall public perspectives on the internet banking. (Khan & Mahapatra, 2009, p.35). The method of questionnaire has been used in carrying on the research and in the paper it is stated that relevant questions have been

Baseball and the Changes made in 1968 Essay Example for Free

Baseball and the Changes made in 1968 Essay Baseball is America’s most favorite past time. It is America’s national sports. Among the non-contact sports being played today, it is the most popular and widely played around the globe. Since contacts are less baseball players get to play more games and eventually seasons compare to their baseball and basketball counterparts. Baseball owns style and uniqueness is what makes the game more special and closer to the heart of the people of America. It is the only sport with exception to softball, which traces its origin and roots to baseball – in which the defense starts play by putting the ball in play. The success being enjoyed by baseball as America’s most favourite past time can be attributed to the excitement and fun the way games are played through the years, from minor to major leagues. The techniques and strategies employed by coaches, team owner, players and sport’s organizer to uplift quality of games, all add color and spice to an already colorful sporting event. The sight and sound inside the ballpark are things to behold as players continue to provide entertainment to every spectator. From the first time baseball was invented and developed, the game had undergone and seen several and important changes and facelift all for the improvement of the game’s quality and for the purpose of bringing the game closer to the public. It is no secret that several changes that are made in baseball’s rule and guidelines are results of the growing clamour made by casual and serious â€Å"faniacs† (fans and maniacs alike). By adapting these changes games are played more interestingly and competition became tougher as games are now dictated and rely heavily on the shoulders of every batter (Newell). The game has now evolved to a batter’s dominated game. With the changes in the existing rule efficiency of pitchers was limited. By limiting effectiveness of pitchers more hits are made, eventually yielding to more runs scored and homeruns being made. The committee’s action emphasis the growing important they put on hits, run, homeruns and offense as they try to bring attendance back in on ball parks. Thus, a new phase in baseball history opens up as fans and spectators go frenzy with every swing of the bat. With the major transformation of the game from a pitcher’s dominance to a batter controlled and dictated tempo, it is fitting and necessary to understand the changes that are made that swing the tide to the offensive teams’ favour. It was in 1968 when major league officials, organizers and experts started re-evaluation of existing baseball rules that govern the sports. One of the rules the committee focus and re-evaluated was the scoring of homeruns in the ninth inning or bottom of extra inning. Prior to the 1920 season, homeruns that propel winning run of runners ahead of them were not considered homeruns and will only be scored as a singles, doubles or a triples depending on the base occupied by the runner ahead of the player who made the homerun (Titlebaum). For example, if a runner is positioned on the second base, bottom of the ninth inning, and his teammate hit a home run the batter would only be credited with a double. His score would depend on the number of bases needed by the runner to advance in order to complete the winning run. In 1968 the special committee restore the homeruns that were lost due to the above mentioned law (Titlebaum). This was the first step made by the committee that slowly shifted the dominance from the pitchers to the batters. The year 1968 was also known to baseball fans as the â€Å"Year of the Pitcher†. It was in this year Robert â€Å"Bob† Gibson dished out the lowest ERA ever made in the 20th century. Gibson who played for the ST. Louis Cardinals was widely known as one of the most dominant and prominent figure of a pitcher in his era. It was during that year the he compiled an amazing 1. 12 ERA, whish was the most dominant performance of a pitcher in a season (Schell). He also completed 28 games out of his 34 as the starting pitcher in which 13 of them were shutouts (Schell). In 28 starts he never allowed a single run. Tim McCarver, Gibsons long-time catcher in St. Louis once quoted I never went to the mound when he was pitching. What is a catcher going to tell someone like him how to throw a pitch? † (Schell). The dominating performance of pitchers in this year led by Gibson, prompted league officials and organizers to make changes in able to help hitters and thus creating an era of an offense minded games. The influx of pitching talents during the 1968 was one of the reasons why pitchers dominated the game. Gibson wasn’t alone in dominating the ’68 season. There was Danny Mclain which was Gibson’s opponent in the World Series, which poser a pretty impressive number with his 1. 96 ERA (Schell). Apparently the figure was only good for fourth ranked in the American League behind Dave McNally with 1. 95, Sudden Sam McDowell’s 1. 81, and Luis Tiant’s 1. 60 (Schell). With the abundance of talent coupled with scarcity in hitting talent the Year of the Pitcher was born. Due to this abundance of pitching talent, organizer provides batters the leverage they needed to slug it put with the highly touted and remarkable pitchers. Thus, in order to resolve this problem officials change the height of the mound. From 15 inches in 1968, the mound was lowered to 10 (Newell). For this reason the environment has become friendly to hitters as strike zone has become smaller. Pitchers then have to be more perfect with their throws and batters can wait more patiently, unlike before when strike zones was enforced from the height of the batter’s armpit to the level of the knees. With this strike zone, pitcher like Gibson giving big, riding fastballs can easily eat the offense alive. As a result of this change the occurrence of players being out because of â€Å"easy outs† has declined. Furthermore, higher pitching mounds favour pitchers as it means more leverage for them. With the advantage in altitude, pitchers can put more downward velocity and spin to the ball making it more difficult for the opposing team to hit the ball. For the next few years attendance in ball parks increases as offense dominated baseball. Today, offense has dictated the flow of the games. Fans love watching games loaded with offensive actions. Pitchers too found it hard to dominate games, unlike before because of the fatigue and beating they obtained throughout the year. They play more games today. The inclusion of aluminum bats also increased the capacity of hitters to make homeruns. The changing of laws in 1968 has great impact on the field of baseball. The changes made define modern baseball. Work’s Cited Page Newell, Kevin. Five Game-Changing Moments in Baseball. Scholastic administrators (2005). Schell, Michael J. Baseballs All-Time Best Hitters, How Statistics Can Level the Playing Field. Princeton, New Jersey Princeton University Press, 1999. Titlebaum, Dr. Peter. Rule Changes in Baseball: Spring Training Never Ends sports media (2006).

Looking Below the Surface of Hamlet Essay -- GCSE Coursework Shakespea

     Ã‚   The mystery of Shakespeare’s Hamlet is a phantom that has haunted students throughout the centuries. Hamlet is a complete enigma; a puzzle students have tried to piece together since his introduction into the school curriculum. Throughout the course of Hamlet, the student is constantly striving to rationalize Hamlet’s odd behavior, through the play’s written text. In doing so, many students mistakenly draw their conclusions based on the surface content of Hamlet’s statements and actions. When drawing into question Hamlet’s actions as well as his reasons for acting, many assume that Hamlet himself is fully aware of his own motives. This assumption in itself produces the very matter in question. Take for example Hamlet’s hesitation to kill the king. Hamlet believes that his desire to kill King Claudius is driven by his fathers’ demand for revenge. If this were true, Hamlet would kill Claudius the moment he has the chance, if not the moment he knows for sure that Claudius is guilty of murdering his father. Why does Hamlet hesitate? One must call into question what Hamlet holds to be true. If Hamlet’s given motivation for killing the king is legitimate, then Claudius should die at about Act 3. Because Hamlet’s actions do not correspond with his given reasoning, one is forced to look for an alternate explanation for Hamlet’s behavior. In doing so, one will come to the conclusion that Hamlet is driven by forces other than what is o bvious to the reader, as well as Hamlet himself. Given this example, one must denounce the assumption that Hamlet is aware of the forces that motivate him, and understand that Hamlet’s true motivation is unconscious This unconscious force is the true reason behind Hamlet’s mysterious behavior. In n... ...hree characters, his step-father being one. Thus, by digging into Hamlet’s unconscious, his true unconscious motives have been unveiled. In overlooking the obvious, the true force behind Hamlet’s actions and inaction has been revealed, resulting in a final product that is an extensive comprehension of Hamlet’s character, and is, as Gertrude would say "more matter than art".      Works cited:   Shakespeare, William. The Tradegy of Hamlet Prince of Denmark.   New York: Washington Square Press, 1992   Hall, Calvin s. A Primer of Freudian Psychology   New York: Harper and Row, 1954   Jones, Ernest. Hamlet and Oedipus. Newyork: W W Norton and company, 1976   Platania, John. Jung for Beginners. New York: Writers and Readers Publishing inc., 1997   Weiten, Wayne. Psychology: Themes and Variations, Fourth Editon. Boston: Brooks/Cole Publishing Co., 1998

Celies Struggle for Freedom in The Color Purple Essay -- The Color Pu

Celie's Struggle for Freedom in The Color Purple Events in history have influenced writers’ style, genre, and emphasis in their stories. 1 Alice Walker was greatly influenced by the time period of the 1940’s. There was much racism and oppression during that time, especially for black women. Women were beaten and abused simply because of their color and gender. Celie, a young black woman, endured many hardships reflective of the time period including racism, oppression, and sexism but remained strong in her faith in God and overcame these obstacles to show the quiet strength of a woman. The oppression of black women is very evident in The Color Purple (Ryan 3062). It is especially shown in the relationship between father and daughter, Alphonso and Celie(Fulmer 1). From the time Celie is very young she is subject to oppression. She is raped repeatedly by her stepfather and is told to keep quiet about it (Walker 1). This is very demeaning to Celie and it causes her to fear men for a good portion of her life (Walk er 6). Celie gets pregnant twice with her stepfather. He takes the first baby and â€Å" kilt it out there in the woods.† The other he sells to a family in a nearby town (Walker 3-4). Celie is oppressed all throughout her life, but she learns to overcome it and support herself (Ryan 3062). Celie also endures other forms of both physical and mental abuse. â€Å"He beat me for dressing trampy but he do it to me anyway† (Walker 8). Abuse was very common in those times. It was used for control and ultimately complete domination. Celie could not run from her stepfather because she had nowhere else to go. Alphonso later forces Celie to marry the Reverend Mr.______. This is not that bad for Celie because she no longer... ... body of the black family and of most black mothers† (Ryan 3062). The same oppression is still seen today and black women across the globe are still fighting for freedom. The Black Feminist Caucus (BFC) is fighting to ensure equality between women and men. They are also battling with the different forms of violence that black women deal with because of black males (BFC 1). Oppression is a battle that must be fought and won to ensure that America is the land where all men (and women) are created equal. Works Cited Black Feminist Caucus. Fumler, Constance M. â€Å"The Color Purple.† Masterplots Complete. CD-ROM. 1999 Paul. The Holy Bible. 1 Corinthians 6:10 and Romans 1:26. Ryan, Bryan, ed. â€Å"Alice Walker.† Major 20th Century Writers. Vol. 4. R-Z. Detroit: Gale Research, Inc., 1991. Walker, Alice. The Color Purple. New York: Pocket Books, 1982.

Changing Strategy of General Motors Essay

General Motors Company, commonly known as GM (listed General Motors Corporation before 2009), is an American multinational automotive corporation headquartered in Detroit, Michigan, and the world’s largest automaker, by vehicle unit sales, in 2011.Earlier GM used to dump their old and unsold models into developing countries and they used to neglect markets in developing nations thinking that they are not profitable, and also they don’t have any R&D centres outside Detroit, US. So there is no way of new innovative models entering into developing markets. But now they slowly started penetrating developing nation markets by introducing their new models in those markets as there are huge untapped potential customers. Automotive Industry Analysis using porter’s five forces model: 1) Threat of New Entrants: The threat of new entrants is very low in the automobile industry. The industry is very mature and it has successfully reached economies of scale. In order to compete in this industry a manufacturer must be able to achieve economies of scale. 2) Threat of Substitute Products: There are no direct substitutes for automobiles. 3) Bargaining Power of Suppliers: The bargaining power of suppliers is very low in the automobile industry. There are so many parts that are used to produce an automobile, that it takes many suppliers to accomplish this. When there are many suppliers in an industry, they do not have much power. 4) Bargaining Power of Buyers: The bargaining power of the buyers is moderately high. The buyers being consumers purchase almost all of the industries output. The manufacturers depend on them to stay in business. The buyers also are a significant portion of the industries revenue. If they cannot keep their buyers happy then they risk losing them to their competitors . 5) Competition among rivalries: Rivalry among the competitors is very strong in this industry. The major competitors are so closely balanced that it increases the rivalry. In order to gain market share in the automobile must gain market share by taking it from their competitors. One of the other reasons there is such high rivalry is that there is a lack of differentiation opportunities. Strengths of GM: They include the high brand image and its worldwide presence of being one of the biggest automotive industries. Weakness of GM: * Diminishing Dealer Network. * Working capital is going down because of low sales volume and it led to negative effect on R&D. And also suppliers are losing their trust. * Inadequate performance among some business segments and low debt ratings are other weaknesses. Strategies of GM in Future: 1) As I mentioned above they will be concentrating on developing nations where there is huge untapped potential customers, which will help their situation which includes them in further growth and improved financial situation. 2) They will leave behind their Detroit centric view and try to change according to the changes in the Automobile Industry. 3) Try more to invest in R&D so that they will have a competitive advantage in future. References: www.gm.com/ www.wikipedia.com/ International Business Competing in the Global Marketplace Charles WL Hill Arun K Jain