The first American railroad - Narrative Essay Example | Topics and Well Written Essays - 500 words

The first American railroad - Narrative - Essay Example For instance, through narratives it is possible to explain and understand how people and cultures of the past related with each other leading to the process of development and how this development came to spread in various regions. All this, being in the foretelling of the first American rail road line. The first American rail road was approximately three thousand and sixty nine kilometers or one thousand nine hundred and seven miles long. Also dubbed as the first transcontinental rail road and the pacific rail road, it caught a lot of peoples eyes in amazement. It was constructed through a total tie period of six years form 1863 to 1869. The totality of the rail road line ran form the pacific coast of San Francisco bay to council bluffs, Lowa across the western united states (Hofsommer 12). This rail road was at the time the major development project and people used it as the major form of transport. This made sure that the government was keen in every aspects of its development. For instance it involved the consultancy of various private companies in its development such as the western pacific rail road company, the central pacific railroad company of California, and the union pacific rail road company. Each of these companies was involved in the planning and implementation stages with each partaking a share of building the rail way line (Hofsommer 4). As was in many of the other regions at the time, the paddle steamers were the first locomotives to move across this rail road. On the day of the launching of the rail way the first paddle steamer on the road was launched and many of the high and mighty citizens in the country partook tickets to ride and go down in history as the first passengers on the first American rail road. Thousand more lined along the rail road through out the whole journey to witness this remarkable invention that promised to come with better developmental opportunities for their nation. The civil war provided America with trained

Food and Culture Essay Example for Free

Food and Culture Essay That is, both mother and child are being watched, judged, and constructed by society since making a good obento may please her child and also affirm that she is a good mother, and child consuming their entire meal in a appropriate manner is considered well-taught. This social phenomenon represents that culture is constructed with power which exerts a force which operates in ways that are subtle, disguised, and accepted as everyday social practice. Another essay Carole Counihan’s â€Å"Mexicanas’ Food Voice and Differential Consciousness in the San Luis Valley of Colorado† uses the case of Ryubal to suggest how women can display differential consciousness through their practices and beliefs surrounding food. In society where traditional division of labor in cooking is still prevalent, a Mexican women Helen Ryubal challenged the traditional views of women and cooking by rejecting cooking, making husbands respect women who cooked, and involving husband in cooking. Her strategy not only minimized the subordinating dimensions of reproductive labor but also valued and benefited from the help of her mother, sister, and husband. Her attempt has been based on her ideologies which was developed from differential consciousness which is â€Å"a key strategy used by dominated peoples to survive demeaning and disempowering structures and ideologies† (175). Both essays are focusing on the relationship between food and gender through each case. Allison considered obentos as a container of cultural meanings, and social expectations from women and their performance and effort in obentos. Counihan’s ethnographic research of Ryubal also provided evolved relationship between women and food which could be possible due to her differential consciousness. Two authors both used a certain level of methodology to associate with their claim such as Ideological State Apparatus and differential consciousness. This utilization strongly supports their claim and strengthens the relationship between gender and food in culture. Moreover, both authors imply the relationship food is not a mere subject but rather deeply involved with society and its ideology. As the readings focus on the relationship between gender and food, it is evident that this relationship is deeply rooted in cultural representation. To be more specific, culture constructs what is considered as normal, custom, reasonable, acceptable under ideology. The hegemonic view from this culture forms women’s custodial relationship with food. As an asian woman, I also have countless experience relating to food. Similar to most of asian culture, the society’s expectation from woman is still traditional- cooking is women’s role and they are suppose to serve their men and rest of the family. Like Ryubal’s challenge, the counter-hegemonic view toward woman’s relationship to food and reasonable, modern alternatives are necessary.

A Growing Anger :: essays research papers

A Growing Anger   Ã‚  Ã‚  Ã‚  Ã‚  Ã¢â‚¬Å"A Poison Tree† by William Blake describes the growing anger in a man because of his hatred for an adversary. Blake compares the growing of anger to the growth and the budding of a tree. Blake also makes allusions to the story of betrayal by Adam & Eve in the Garden of Eden when they eat from the sacred tree.   Ã‚  Ã‚  Ã‚  Ã‚  In the poem, the narrator is describing his constantly growing anger towards his adversary, which Blake compares to the growth of a tree. Just as a tree needs sunlight to grow his anger needed a source of energy which happened to be his foe who he hates with a passion. The anger grows uncontrollably, although he tries to trick his feelings and pretend to be happy but still his anger grows. It grows until it reaches the point where an apple sprouts up from the tree, which his adversary will eat and ultimately die from, thus giving the tree its â€Å"poison† in the dangerous fruit. Blake’s poem also follows the same story line as the story of Adam & Eve eating the fruit and getting kicked out of the Garden of Eden. In the poem the adversary sneaks into the garden and steals an apple, which he does not know has been spawned by the hatred of the narrator. The foe proceeds to eating the fruit, which causes him to die under the tree he stole the fruit from. Just as in the story, Satan in the form of a serpent sneaks into Eden and tempts Eve into eating the sacred fruit which she knows not to eat. She does eat from it and takes it to Adam for him to eat from and consequently God throws them out of Eden for disobeying his commands.

Epistemology: Scientific Method and Knowledge Essay

Epistemology can be difficult to understand and maybe even harder to say. The short answer is that epistemology is the theory of knowledge. Perhaps that is too short of an answer, allow me expand. Epistemology is the branch of philosophy that deals with questions concerning the nature, scope, and sources of knowledge. Even these concepts can be foreign to the common public. The nature of knowledge is basically the qualities that constitute knowledge. One would find this answer by asking â€Å"What is knowledge? † The scope of knowledge sets the limits on what is knowledge and is a belief, hypothesis, or guess. A person must prove knowledge. Suppose I generated a completely random number and I asked you what number I was thinking of. If you stated the correct number, does that mean you knew what I was thinking? The source of knowledge covers how we attain our knowledge. Now that we have established a basic understanding of epistemology, we can cover a few of the major schools of thought. When you think about a persons reasoning process, some people divide a persons thoughts into rational and irrational. If you are one of these people, you would use a deductive method of reasoning. You would also be considered a rationalist. As a rationalist, you believe that you can know things for certain even if you have never experienced it yourself. If you wanted to know which object would hit the ground first, when given two objects with different masses, you could take what you know about physics and figure it out without ever having to actually perform the experiment. There is another group that uses deductive reasoning but argue â€Å"all ideas trace ultimately back to experiences, such as perceptions and emotions. â€Å"(IEP, par. 2) These are the empiricists. These individuals claimed that if we didn’t have any experiences, we would have nothing to base our ideas off of. Taking a look back at the example above, you can see that we must know something about gravity. Our ideas on gravity stemmed from the observations of people like Newton. You can now see, through a little bit of deductive reasoning, how they believe everything is inductive. Immanuel Kant was a German philosopher who attempted to combine rationalism and empiricism. It is called the â€Å"form and matter† epistemology. (Quine par 5) The idea is that you need to take into account your experiences and use deductive reasoning. Quine uses a metaphor involving the statue of Abraham Lincoln. Quine says â€Å"A statue can have a form such as Abraham Lincoln and a matter such as marble; you need both a form and a matter to have a statue. So in knowledge you need a form, which are categories of the mind, and matter which are the data of sensations. † What I understand of this is that you cannot experience everything in life so you must use deductive reasoning, but you must experience some things to have a basis for your knowledge. Skepticism is just as it sounds, to doubt. You may be familiar with the statement â€Å"I think, therefore I am† but may not know what it means, who stated it, and why it was ever said, and how it relates to skepticism. Descartes was looking for a way to prove truths by disproving everything else. He used two conjectures, the dream conjecture and the evil demon conjecture. The dream conjecture utilized the fact that the truth could be a figment of the imagination. The evil demon conjecture posed the idea that a malevolent force was distorting reality. Descartes used these two as tools. If a truth could pass these two filters, then indeed it was the truth. What he discovered was that a person could doubt everything except one truth: â€Å"I think, therefore I am† Here’s how it passed the test. A person must exist to be able to think. To doubt something requires thought. So the act of doubting your own existence proves that you exist. This was a great discovery but Descartes was troubled with other questions. Descartes found it difficult to make the mind-body connection. That is, the mind is immaterial and the body is physical, how can something immaterial move something that is material. Parallelism was proposed as a solution. Simply put, the mind does not move the arm, the act of willing the arm to move only appears to make the arm move. Two events happen in parallel, the act of willing the arm to move and the arm actually moving. How does it just so happen that these to events happen at precisely the same time? Occasionalism, a variant of parallelism, was offered. A person wills their arm to move and on that occasion a divine power causes the arm to move. Many theories have been set forth, some a little harder to grasp or understand than the others. From the examples above you may begin to understand what epistemology is. You can grasp parts from the short stories above that help explain the nature, scope, and sources of knowledge. Depending on your  position, all of this information presented could not even be true. You may not really be reading this. You may not even exist, do you doubt it? Works Cited http://pantheon. yale. edu http://www. london-oratory. org/philosophy W. V. O. Quine. Epistemology. 23 Mar 2004 The Internet Encyclopedia of Philosophy. Continental Rationalism. 23 Mar 2004 Chapter 6-Philosophy-The Rise of Modern Metaphysics and Epistemology Chapter 7-Philosophy-The Eighteenth and Nineteenth Centuries Epistemology-University of Phoenix Faculty Material.

Forrest Gump Review Essay

The third movie we watched was, â€Å"Forrest Gump†. Tom Hanks plays the main character, a simple man called Forrest Gump. The story is told through his innocent eyes, and we see just how crazy the world really is. His best friend, Jenny, is played by Robin Wright and Forrest’s mother is played by Sally Field. There are a few themes to be found in this movie, the main ones being, love, death and war. You can find love in the movie between Forrest and Jenny being best friends, and how Forrest took care and looked after Jenny in her time of need. Also there is a strong love between Forrest and his mother, and how she took care of him when he was younger and how later he took care of her when she was sick. Finally you can find love between Forrest and his new friend, Bubba that he meets along his journey, and how close they are and the plans they make. Death can be found in a few places in the movie, being it his mother, his wife, or his best friend; we see how Forrest overcomes these deaths and how innocent he is when it comes to death itself. The third theme, war, is found when Forrest finds himself working for the army in Vietnam. We see here that he sees the world as a crazy place and even though he is seen as simple, he sees that fighting isn’t the only way to solve things. This movie shows that no matter how simple people see you to be, you still know the difference between right and wrong. Forrest sees the world in a more innocent and sweet way, and as the movie goes on people start to see the world the way he does and start to understand him a little bit more.

Emerson Documented Paper essays

Emerson Documented Paper essays EMERSONS PHILOSOPHY OF ROMANTIC IDEALISM A psychological writer such as Ralph Waldo Emerson can be analyzed and interpreted in several different ways. A few things that may affect the way that people interpret Emerson are past experiences, time period, and social climate. Emerson has proven to be one of the most influential writers of the Romantic time period and his ideas and writings still have an active role in social views today. Emerson has published works such as Compensation, Self-Reliance, and his first published essay Nature, published in 1836. These essays serve as a gathering of Emersons ideas and morals about man and how man reacts to the world that he lives in. Emerson says, "Good and bad are but names very readily transferable to that or this; the only right is what is after my constitution, the only wrong is against it" (Manley 1). Emerson explains his cocky point of view in this quotation about good and bad. Romanticism for Emerson was a period of time that broke down old social barriers and set new standards for society. The general attitude toward man was drastically changed; the individual became the center of life and experience. Everything that happened revolved around the individual and directly affected the individual. Also, the belief that mans experiences shape his personality and overall life was formed during Romanticism. The core of man was viewed as strictly emotion and inner perception of truth. Mans inner world was a heavily studied topic from which creativity and imagination emerged. Nature and the past were two other heavily studied parts of human life. Emerson stated that nature is a machine that can develop and change, it is beautiful yet mysterious, and most importantly many spiritual and moral lessons can be learned through experiences with nature. In other words, nature shows a parallel to man and therefore man can dir...

Free Essays on Paradigms In Sociology IIIII

The Sociological Paradigms The three sociological paradigms are all part of the sociological theory. More specifically, they are all â€Å"basic images of society that guides thinking and research† (Macionis 14). The three sociological paradigms are the structural-functional paradigm, the social-conflict paradigm, and the symbolic-interaction paradigm. Both the structural-functional paradigm and the social-conflict paradigm are both on the macro-levels, meaning that they focus on broader ideas. All three paradigms are frameworks for building theory (17). These paradigms have distinct differences in what makes each significant. The structural-functional paradigm looks at society as a complex system with all its parts working together. To break it down, structural looks at social behavior and whether there are any stable patterns to it. The functional half looks at how society functions and the consequences of actions taken. Auguste Comte, Emile Durkheim, Herbert Spencer, Talcott Parsons and Robert Merton were all key contributors to the structural-functional paradigm. Auguste Comte associated this paradigm to whether there was integration taking place during social changes. Emile Durkheim used this approach to pioneer a study a study on suicide and found that white, single, rich protestant males were most likely to commit suicide. Another important sociologist was Herbert Spencer. Spencer looked at society as a human body with all the parts of the body work together to keep us alive, just like society. It organizes and identifies all the parts and looks at how they all work alone and then together. Talcott Parsons took and carried the ideas Comte, Durkheim, and Spencer and looked at society as a system. He looked at what it took for society to survive and also how this was accomplished. Robert Merton took a more contemporary approach and expanded this paradigm. He broke down structural-functional and created more t... Free Essays on Paradigms In Sociology IIIII Free Essays on Paradigms In Sociology IIIII The Sociological Paradigms The three sociological paradigms are all part of the sociological theory. More specifically, they are all â€Å"basic images of society that guides thinking and research† (Macionis 14). The three sociological paradigms are the structural-functional paradigm, the social-conflict paradigm, and the symbolic-interaction paradigm. Both the structural-functional paradigm and the social-conflict paradigm are both on the macro-levels, meaning that they focus on broader ideas. All three paradigms are frameworks for building theory (17). These paradigms have distinct differences in what makes each significant. The structural-functional paradigm looks at society as a complex system with all its parts working together. To break it down, structural looks at social behavior and whether there are any stable patterns to it. The functional half looks at how society functions and the consequences of actions taken. Auguste Comte, Emile Durkheim, Herbert Spencer, Talcott Parsons and Robert Merton were all key contributors to the structural-functional paradigm. Auguste Comte associated this paradigm to whether there was integration taking place during social changes. Emile Durkheim used this approach to pioneer a study a study on suicide and found that white, single, rich protestant males were most likely to commit suicide. Another important sociologist was Herbert Spencer. Spencer looked at society as a human body with all the parts of the body work together to keep us alive, just like society. It organizes and identifies all the parts and looks at how they all work alone and then together. Talcott Parsons took and carried the ideas Comte, Durkheim, and Spencer and looked at society as a system. He looked at what it took for society to survive and also how this was accomplished. Robert Merton took a more contemporary approach and expanded this paradigm. He broke down structural-functional and created more t...

Abbreviations and Acronyms for English Learners

Abbreviations and Acronyms for English Learners Any shortened form of a word or phrase is an abbreviation. Acronyms are also a type of abbreviation that can be pronounced as a single word.   Abbreviations are selectively used in spoken conversation as well as written English. Generally, common abbreviations such as measurements and titles are always abbreviated in written form. Days and months are commonly written out. Online, abbreviations and acronyms are most common in texting, chat rooms and in SMS. In spoken English, we often use abbreviations in informal conversations. A good rule of thumb is to use abbreviations and acronyms that you know others are familiar with, and avoid them when they are too specific. For example, if you are having a conversation with a business colleague it may be appropriate to use abbreviations particular to your line of work. However, the use of work-related abbreviations would be out of place if speaking with friends. Here is a guide to some of the most common abbreviations. Titles One of the most common types of abbreviations is the shortened word. Either the first few letters of a word  or important letters in the word are used for this type of abbreviation. Common abbreviations include titles used in everyday conversation, as well as military ranks: Mr. - MisterMrs. - MistressMs. - MissDr. - DoctorJr. - JuniorSr. - SeniorCapt. - CaptainComdr. - CommanderCol. - ColonelGen. - GeneralHon. - the HonorableLt. - LieutenantRev. - the Reverend Other common abbreviations include: Months of the Year Jan. - JanuaryFeb. - FebruaryMar. - MarchApr. - AprilAug. - AugustSept. - SeptemberOct. - OctoberNov. - NovemberDec. - December Days of the Week Mon. - MondayTues. - TuesdayWed. - WednesdayThurs. - ThursdayFri. - FridaySat. - SaturdaySun. - Sunday Weight and Volume gal. - gallonlb - poundoz - ouncept - pintqt - quartwt. - weightvol. - volume Time hr - hourmin - minutesec - second Length - US/UK in. - inchft - footmi - mileyd - yard Measures in Metrics kg - kilogramkm - kilometerm - metermg - milligrammm - millimeter Initial Letter Abbreviations Initial letter abbreviations take  the first letter of each important word in a short phrase to make up the abbreviation. Prepositions are usually left out of initial letter abbreviations. One of the most common initial letter abbreviations is the USA - United States of America. Notice how the preposition of is left out of this abbreviation. Other common initial letter abbreviations include: Directions N - NorthS - SouthE - EastW - WestNE - NortheastNW - NorthwestSE - SoutheastSW - Southwest Important Institutions BBC - British Broadcasting CorporationEU - European UnionIRS - Internal Revenue ServiceNASA - National Aeronautics and Space AdministrationNATO - North Atlantic Treaty OrganizationUNICEF - United Nations Childrens FundWHO - World Health Organization Types of Measurement MPH - Miles per hourRPM - Revolutions per minuteBtu - British thermal unitsF - FahrenheitC - Celsius SMS, Texting, Chat Many abbreviations are used online and in our daily lives with smartphones, chat rooms, etc. Here are a few, but follow the links for a complete list in alphabetical order. B4N - Bye for nowASAP - As soon as possibleNP - No problemTIC - Tongue in cheek Acronyms Acronyms are initial letter abbreviations that are pronounced as one word. To take the examples from above, the BBC is NOT an acronym because it is pronounced as it is spelled: the B - B - C. However, NATO is an acronym because it is pronounced as one word. ASAP is another acronym, but ATM is not. Tips for Using Abbreviations and Acronyms Use abbreviations when texting by learning common texting abbreviationsUse acronyms as a mnemonic device to help you learn a wider range of vocabulary. In other words, take a list of words you want to learn and memorize the first letters of each word you want to learn. For example, primary colors: RBYred,  blue,  yellow.Use abbreviations when writing quick emails in an informal voice.Do not use abbreviations or when writing formal emails, reports or letters except for common organization namesFor more uncommon acronyms, use the entire name followed by the acronym in parentheses the first time you use the acronym in written communications. For example: The International Monetary Fund (IMF) is responsible for loaning money to nations. As the world experiences more economic difficulties, the role of the IMF is often called into question.

Budget Analysis Essay Example | Topics and Well Written Essays - 1500 words

Budget Analysis - Essay Example The budget can be used as a policy document, a financial plan, and even as a way to communicate to all departments. 2. There are many types of budget systems such as the zero-based budget, target budget, and management by objective. The zero-based budget is based on the idea that each year’s budget begins fresh. You start off each budget from scratch and work your way through it by going through each and every department. The target budget is a budget that is based on a goal. If you want to have a certain amount left in each account you basically work your way backwards. For example, if you want 200,000 in the capital budget account at the end of the year and only have 1,000,000 of revenue coming in then you would need to base all of the other expenditures on the difference or 800,000. The 800,000 would be the money left over to budget with since you want to have a certain amount left in the account at the end of the budget year. The management by objective is based on results . Management attempts to align the objectives and goals of their employees with the company’s overall goals and then measure their goals based on feasibility. Zero-based budgeting is used because it makes the most sense. Each year the city would analyze the prior year’s budget and come up with a variance report. ... The budget cycle is basically the process that each department goes through to make sure they have included everything in their budget. This may include preliminary meetings with the city manager and budget director to determine what is needed or necessary for the year. The budget cycle and calendar interact in tune with one another because the calendar basically dictates how much time each department has to go through their budget cycle. 4. The city’s budget process is greatly affected by the economic backgrounds of their citizens because the backgrounds determine what is needed within the city. If the city is primarily made up of individuals who drive all the time then it might determine how much money in street repairs are needed. If the city is constantly seeing an increase in children then it might determine that another school is needed. . 5. Revenue is any money coming into the city. The city has various revenue streams such as taxation, the sale of public services and property, transfers, borrowing, funds from other sectors such as grant giving foundations. The major source of income for most if not all cities is taxation. Taxes come in the form of sales tax and property tax. For the most part, the revenue from taxation can be predictable if there is little fluctuation in the population. If citizens are not homeowners then the property taxes would decline. 6. A fixed expense is an expense that does not change. This can be almost anything within the city’s budget such as equipment maintenance, salaries, etc. This fixed expense must be addressed before any other expenditures are added to the budget. Regardless of how much the other expenses are, the fixed

Implementation of the IOM Future of Nursing Essay

Implementation of the IOM Future of Nursing - Essay Example As a consequence, it led to the establishment of the Committee on The Robert Wood Johnson (RWJF) initiative on the Future of Nursing. This committee established a vision for the transformation of the health care system to deal with these issues (American Nurses Association, 2011). This initiative was dabbed Campaign for Action, released in October 2010. The objective of this article is to explore the work of the RWJF at the Institute of Medicine that resulted in the Institute of Medicine report, â€Å"Future of Nursing: Leading Change, Advancing Health.† Background Robert Wood Johnson Foundation (RWJF) approached IOM in 2008 to create a two-year initiative regarding the prospects of nursing, with the main objective of recommending an action-oriented blue-print for nursing future. The recommendations included the necessary changes in public and institutional policies at the local, national, and state levels (American Nurses Association, 2011). During deliberation, The IOM committee established four key messages which dominated the recommendations and discussion represented in the report (Institute of Medicine, 2010): a) Nurses should practice fully in line with their training and learning b) Nurses ought to undergo higher training with the help of improved system of education that encourages academic development c) Nurses ought to partner fully with doctors and health professionals in redesigning the United State’s health care d) Effective workforce policy making and planning need an improved information infrastructure and better data collection. Importance of the IOM "Future Of Nursing" Report Related To The Nursing Workforce The recommendations of IOM report are of immense importance to patients, nurses and the profession at large. For instance, the recommendation that the role of nurses be expanded recognizes the need to give nurses the opportunity to practice in line with their professional learning and training (O'Neil & Coffman, 2008). This gives nurses the opportunity to transform the complex health care system in order to meet the future needs, with highly educated nurses who are at liberty to practice in accordance with their academic qualifications. This is instrumental in development and implementation of policies that focuses on closing the gaps of health care delivery system to patients (Committee on the Robert Wood Johnson Foundation Initiative on the Future of Nursing, 2011). The freedom to practice enables nursing profession to move into the intermediary opportunities established by health care reform which have impacted on everyone in their family for generations (American Nurses Association, 2011). The IOM report is also beneficial as it would help in expansion of nursing faculty, increasing the nursing school’s capacity and ensuring that nursing education is redesigned so as to be able to produce adequate competent nurses to cope with the current and prospective health needs. This would help in reducing the number of the nursing shortage within United States, thus improving the quality of health care standards (American Nurses Association, 2011). Future of Nursing Intention The reason behind the Campaign for Action initiative is to work towards addressing the rising need for care by the application of the nurses’ experiences, talents, skills, and knowledge. The campaign was also initiated to provide guidance toward the execution of the suggestions of IOM’

The contribution of the construction industry to economic development Dissertation

The contribution of the construction industry to economic development in Libya - Dissertation Example Over the next ten years i.e. 1991-2001 both GDP of construction industry and national GDP were increased significantly and the contribution of construction industry to Libya’s GDP was also increased significantly. In 2001 this contribution reached at 7.03%. However, since 2001 it again started to lower and quite surprisingly it came to almost 3.95% in the year 2006. In the next three years construction industry has contributed 4.52%, 5.13% and 8.78% respectively. Question 2 These percentage contributions of construction industry to the national GDP tells the way Libya’s construction industry has grown with the growth of the country’s economy. During the period of 1986-1991 construction industry’s growth was quite volatile whereas the national economy has grown consistently. In other words construction industry failed to perform in a constant way with respect to Libya’s economy. Similar trend is also observed over the next ten years i.e. 1991-2001 an d main reason behind such findings is the fact that there is lack of consistency in the growth of construction industry although the national economy has grown on a regular basis. However, data shows that during 2004-2009 this industry has grown constantly (from 2159.2 Million Libyan Dollar to 7577.5 Million Libyan Dollar).

Six Principles by Morgenthau Essay Example | Topics and Well Written Essays - 1500 words

Six Principles by Morgenthau - Essay Example Morgenthau’s work â€Å"Principles of Political Realism: A Masculine Perspective?† gives six philosophic concepts of modern realism in the world, which include the importance of objectivity or rationality of decisions and interest defined in terms of power that brings rational order into politics, which is void of any emotions. The principles also describe power as an objective category that is universally legitimate, not without a fixed meaning assigned to it, and recognizes the tension that can be felt between the moral command and what may be required for a viable and triumphant political action. Morgenthau argues there are moral laws that preside over the world but being self-centred saves human beings from the excesses of morals and political idiocy. According to Tickner, the argument by Morgenthau is just a small argument of the description of international politics as it is based on assumption of the nature of human beings that are skewed towards a male point of view. Therefore as a feminist, Tickner argues that it is difficult to find a common and objective foundation for knowledge and that knowledge is only constructed socially. Consequently, the author castoffs the disagreement that supports self-sufficiency of the social sphere, arguing that personal is political. As a feminist reformulation of Morgenthau’s work, Tickner argues that there should be a dynamic objectivity that offers a more connected view of objectivity with less chance for domination and national interest is defined contextually and multi-dimensionally (Art and Jervis 22-34). Power that is in the world should not be fused with a meaning that is universally accepted and all political actions must bear moral significances. Tickner proposes that common moral elements inherent in the aspirations of human beings should be put into place in solving international conflicts and build an international community. Question Two Globalization has come with different impacts on developing nations due to the increased reliance on market driven economy currently present in the world coupled with renewed growth of private capital and other resources. The World Bank through its structural adjustment programs and other international organizations has also played role spreading globalization in developing countries. Globalization has come with it several opportunities to the developing countries as they are now able to access the markets in the developed nations plus the advantage of transfers in technology that is translated into improved productivity and living standards. However, globalization has also brought with it challenges like the increase in inequality amongst citizens in a nation, volatility in the financial markets and environmental concerns such as degradation and deterioration of the environment. Globalization may also not benefit developing countries as most of them are always removed from the process of globalizing their markets either through barriers such as trade barriers. In India, globalization has had the effect of intensifying interdependence and competition between it and other markets within the world. The increased trade in goods and services as well as services and the movement of capital can show the interdependence from one market to the other. The result of this is that domestic economic developments in the economy are not only determined by domestic policies and market conditions but also international policies. The effect of this is that most developing nations including India lose their domestic policy-making autonomy, as the policies they make must be in consonance with

Globally Optimized Operations Research Paper Example | Topics and Well Written Essays - 1250 words

Globally Optimized Operations - Research Paper Example Nonetheless, all parties logistically involved in optimized operations must ensure they work together for the success of the supply chain. Secondly, a wise investment in IT also spearheads a successful achievement of chain supply logistics. Variety of quantity chain supply practices are available, though lack informational values. Supply chain to some extent can be ineffective if companies do not embark on a selective mode of IT solution that best suits their specified supply chain requirements. It is preferably important to ensure that all budget considerations, logistical operational goals and other relevant optimal operations factors are put in place. These factors are predominantly the most effective tools for regaining control over operation procedures and proving supply chain customers with visibility and service. This research paper explains the globally optimized operations. Globally optimized operations analytically must provide clear and conscious information. Logistically, using a single automated database ensures that trading partners can fasten their communication variables in a language compatible with other companies. The communication aspect of globally optimized operations ensures that the logistical companies easily identifies themselves with common and key performance indicators that provide superimposed levels of integration for the shared processes and systems in the global corporation system. Ideally, keeping the staff’s skills up to date may also act as a rationally globally operationalized operations element. The IT department of the optimized operation or the technology resource should have an overwhelmingly quality-assured process (Bomze, 2007). Quality assurance in the globally optimized operations ensures all the skills are current and moves in a forward direction, which is in line with all the logistical operations. The docum entation of the optimized operations and learning resources must be put in

There are questions I need to answer to them I will write it in Assignment

There are questions I need to answer to them I will write it in assigment criteria - Assignment Example Alternatively, the market structure can be defined as oligopoly in view of the fact that that there are other key players within the market who are â€Å"peer competitors† (James, 2010, p. 211). The key aspects of existing corporate objectives of Toyota Motors, with respect to its marketing plan are (1) Mission Statement, (2) Targets of the Business, and (3) Sustainable Competitive Advantage. The Toyota Motor’s mission statement is termed as a â€Å"Global Vision† (Liker & Meier, 2011, p. 111) on the company’s website. The company aims to lead the way to the potential of mobility, inspiring lives all over the world with the most secure as well as most responsible ways commuting. Through its dedication towards excellence, continuous improvement and admiration for the planet, the company plans to go beyond expectations and â€Å"be rewarded with a smile† (Liker & Meier, 2011, p. 123). ... 51) approach turned out to be immensely popular as consumers no longer considered a locally made Toyota as substandard. Customer confidence can only be gained by a reliable, elegant product, and Toyota recognizes that promoting better-quality human resources is crucial to ascertain consistent quality. Toyota’s mission statement shows that company’s objectives incorporate acquiring clients through provisions of high-valued products as well as services, and the most rewarding experience of ownership. â€Å"This mission is topped only by the company’s vision of being the most successful and respected car company in around the globe† (Lusch et al, 2006, p. 267). With these principles in mind, the marketing plan of the Toyota reveals an evaluated approach of company’s quantitative as well as qualitative objectives, to guarantee alliance with the existing mission and success in accomplishing. As an international business, Toyota sets its objectives based on international sales. The existing corporate objective involves international sales of the Toyota to reach 25 billion. For an automobile manufacturer that previously sells just over 750,000 units in United States, the corporate objectives also includes reinventing the image of Toyota and target a redefined market segment with the intention of creating the additional sales required, by demonstrating the value of Toyota Motors and enhancing the link of consumers with the Toyota family. Marketing Audit Marketing Mix Marketing mix is a vital part of the marketing policies of the Toyota Motors. With the execution of the varied components of the marketing mix, the business has made very successful marketing strategies as well as methods. With the marketing approach, planned on the

Globally Optimized Operations Research Paper Example | Topics and Well Written Essays - 1250 words

Globally Optimized Operations - Research Paper Example Nonetheless, all parties logistically involved in optimized operations must ensure they work together for the success of the supply chain. Secondly, a wise investment in IT also spearheads a successful achievement of chain supply logistics. Variety of quantity chain supply practices are available, though lack informational values. Supply chain to some extent can be ineffective if companies do not embark on a selective mode of IT solution that best suits their specified supply chain requirements. It is preferably important to ensure that all budget considerations, logistical operational goals and other relevant optimal operations factors are put in place. These factors are predominantly the most effective tools for regaining control over operation procedures and proving supply chain customers with visibility and service. This research paper explains the globally optimized operations. Globally optimized operations analytically must provide clear and conscious information. Logistically, using a single automated database ensures that trading partners can fasten their communication variables in a language compatible with other companies. The communication aspect of globally optimized operations ensures that the logistical companies easily identifies themselves with common and key performance indicators that provide superimposed levels of integration for the shared processes and systems in the global corporation system. Ideally, keeping the staff’s skills up to date may also act as a rationally globally operationalized operations element. The IT department of the optimized operation or the technology resource should have an overwhelmingly quality-assured process (Bomze, 2007). Quality assurance in the globally optimized operations ensures all the skills are current and moves in a forward direction, which is in line with all the logistical operations. The docum entation of the optimized operations and learning resources must be put in

Regional Studies Essay Example | Topics and Well Written Essays - 2250 words

Regional Studies - Essay Example In 1946, Sony has taken location and Akio Morita and Masaru Ibuka founded. There is no question that the founders of sophisticated electronics rather quickly (Wataru Fogel 2010). This is because the two were the founders of abilities and capabilities to the Japanese electronics commerce of lightweight at the top. On an edge note, we should notify you that China is in electrical devices goods are evolving better and more high-tech, are far along with enterprise buying into in some other nations, encompassing Japan. We have to notify you much achievement in the buyer electronics commerce in Japan because of persons who easily could not turn off their electrical devices. The reality is that the buyer electronics commerce in the United States, mostly dry due to the achievement of Japan's buyer electronics in Japan. In the late 1880s was one TV output, which stayed in the U.S. because Japanese businesses have bought into in others. Did you understand that Japan, which first hue TV? In 198 0, Japan has evolved the electronics for example camcorders, VCRs, CD. Today, we all understand how well liked the compact computer disc contestant in the world. If you stroll in public locations, then you can anticipate glimpsing numerous distinct kinds of electrical devices gear used. ... Most Japanese electronics manufacturers took benefit of the trade items enterprise because the market is saturated with competition (Anderson 2002). Over the last 20 years, electronics manufacturers Korean and Taiwanese gnawed its way into buyer electronics market worldwide and Chinese manufacturers have obtained substantial support throughout the last decade. Today, the pie of the Japanese electronics constructing market is not large-scale sufficient to share with all the Japanese manufacturers, if each of them desire to stay in the market for buyer items cheap. There are easily too numerous Japanese electronics manufacturers, and they should change the main heading of the business to endure the increasing affray on the market. Unfortunately, numerous Japanese electrical devices businesses are too large-scale to change main heading rapidly, and latest alterations broadcast, numerous of these businesses manage not appear very smart. Several business broadcasts and alterations in the schemes of foremost Japanese manufacturers have occurred in latest months. Matsushita Electric Industry has traded its stake in JVC set (one of the manufacturers of buyer electronics contestant in the world of audio-visual equipment) because of reduced productivity. JVC will now work with the Kenwood (another premier Japanese constructor of audio equipment) to endure in this industry. In supplement, Sanyo endured important deficiency in latest years, most business bosses lately resigned. Sony's long-run international buyer electronics monster, determined to close its constructing of semiconductors and sales procedures of Toshiba. Meanwhile, latest, released last week engaged Sharp, the premier constructor of LCD

Tennessee Williams Essay Example for Free

Tennessee Williams Essay Elia Kazan once said of Tennessee Williams that Everything in his life is in his plays, and everything in his plays is in his life. This statement could not possibly be more correct as every main character in A Street Car Named Desire whether it is their situation, physical description or personality traits can be linked to somebody who had played a role in Williams life. Firstly, the relationship between Stella and Stanley reflects that of Williams own parents. His family life was wracked with violent arguments and a tense atmosphere, which is clearly displayed in the play by Mr and Mrs Kowalski. Stellas attitude towards her marriage can be compared to that of Williams own mother Edwina. Stella says of Stanleys violent behaviour that people have got to tolerate each others habits, I feel that Williams depicted his own mother when creating Stella as he and his sister Rose often encouraged his mother to leave their abusive father but she was adamant to stay. It could be also said that the relationship between Stella and her sister Blanche is like the one Williams had with his sister Rose. Blanche is obviously mentally unbalanced and requires constant care and attention from Stella, however she is mortified when Blanche is committed to the asylum asking Eunice, What have I done to my sister? This is an event in the play that would certainly perturb Stella physiologically for the rest of her life. This echoes Williamss life because his sister had a full frontal lobotomy performed on her with the consent of her mother, this deeply disturbed Williams and I think there is a hint of this displayed in Blanches mentality and Stellas attitudes towards it. He also took care of his sister for the majority of her life as Stella did for Blanche before she left Belle Reve and also in the painful months before she was committed. Stella dotes on her sister and I think Williams felt the same way for his sister Rose. Blanche is the main character in the play but it can be difficult to define how Williams would feel close to her. I think however the issue of sexuality is what his empathy with Blanche is constructed of. Blanche is promiscuous and gives away her love freely but all of this is because of past rejection and heartache. Blanche was married when she was very young but she caught her husband in bed with another man and at the time when this was written, homosexuality was looked upon as disgusting, abnormal and considered a sin. Williams was a homosexual and perhaps this situation was his way of adding his personal feelings and issues that had affected him into Blanches persona. After consideration however, I actually feel that Williams feels closest to Stanley. Williams actually had a close friend named Stanley Kowalski when he was forced to work at the International Shoe Company for his father. Even though he is considered the villain of the play, I think Williams saw his father in Stanley. The violence he witnessed in his early years obviously affected him deeply and perhaps he felt that all marriages were in fact based on desire and sex as opposed to love. Perhaps this is why he was homosexual. Also, I think Stanley has some of the same traits as his creator, Stanley is a heavy drinker and gambler and these are problems that ailed Williams during the course of his life. It would appear that Williams never had the luxury of the truth about his familys issues being concealed from him I think this is why he made Stanley such a realist and allowed him to expose Blanche. It is clear that Williams was never expecting a happy ending both in the play and his life. My personal feelings are actually very different. Although I can understand why Williams would feel close to Stanley I have no empathy for the character myself. The person I feel closest to in the play is actually Mitch. I would like to think Mitch could be defined as the hero of the play; one of Blanches first observations of Mitch is that he seems different from the others. Mitch was Blanches ticket to happiness and if it werent for Stanley all of this could have been possible. I think the reason why I feel so close to Mitch is because of his touching behaviour in Scene eleven. When he realises what is happening to Blanche he threatens to kill Stanley for what he has done but his emotions and love for Blanche overcome him and he collapses at the table sobbing. Stanley may be the king but Mitch is a human being at least.

Great Expectations Book Review

Great Expectations Book Review Great Expectations by Charles Dickens, first published in 1860, is a classic fictional novel. The novel doesnt really have a genre, possibly a drama or adventure, but its more like just his story so Id say just a normal fictional novel. The story is set in 1812 to 1840 in an English town surrounded by marshes, Pip lived outside the town, once receiving his fortune he moved to London though. The novel tells of Pip, a young orphan, and his story, his life. Pip was raised by his sister, only known as Mrs. Joe, and her husband Joe. In the beginning of the novel Pip is in a graveyard, where his parents are buried, and he is approached by a shady looking man, who is in fact an escaped convict, the convict asks Pip to bring him some tools so he can escape and Pip does this. This becomes very important in the novel. One day Pips uncle takes him to play at a rich, weird old ladys house, Miss Havisham, here Pip meets Estella, who he falls in love with, though Estella only toys with Pips feelings and doesnt like him at all. Pip then becomes Joes apprentice blacksmith, but Pip struggles as a blacksmith and isnt very happy. Then one day a lawyer called Jaggers appears and announces to Pip that he has been left a large fortune and needs to move to London immediately. Pip moves to London, meets many new people and has some fun. Then one night a convict breaks into Pips room, the same convict that Pip helped when he was just a little boy, and the convict, Magwitch reveals that he made a fortune in Australia and he gave Pip his mysterious fortune. Pip is shocked but decides that he will help Magwitch escape from London, and so they escape. Pip begins to like Magwitch as they get to know each other and Pip discovers many things about his past. As Pip is about to help Magwitch escape London Pip is nearly killed, Magwitch eventually does escape and kills somebody, he is sentenced to death and hence Pip loses his fortune. Pip then goes and works abroad as a merchant, many years later he returns home and meets his childhood love, Estella, they get together, with Pip believing they will be together forever. Two main characters of Great Expectations are Pip and Estella. Pip is the main character is the novel, he is also the narrator. In the beginning of the novel Pip is a young child but as the book goes on he ages and is an adult by the end. Pip is a good boy, he always tries to do what is right, and is quite sympathetic, e.g. helping Magwitch, always caring for Mr. Mrs. Joe. Pip is always looking to improve himself, whether it is learning to read and write as a boy, or learning to become a gentleman. He is of the lower classes, until he receives his fortune, and he desires to become an upper class, largely so he can impress the girl he admires, Estella. Estella is an important character in the novel. As a girl she had been raised by Miss Havisham to be cruel and heartless towards men. When she meets Pip she acts cruel and heartlessly, toying with his emotions. Though Pip still loves her, maybe he saw something inside her, or he just longed to be in the upper class. She then married an upper class man, who treated her badly, this would have changed her, gotten rid of her coldness and cruelty. So when Pip returns she is kind, and they get together. The themes in this novel include social class, aspiration, wealth and crime. I think that Charles Dickens in this novel was trying to say that social class doesnt matter, and that desire to become better and change should be congratulated. The novel is set in first person, with the narrator, Pip, also being the main character. The language used is pretty weird, with some old English sort of stuff in there. Once you get used to the language its pretty good and not that hard to follow. Overall, I thought this novel was pretty good, for an old book. The language used was a bit hard to get at times, and sometimes the story was a bit slow, but overall I thought it had a good story and I liked it. Estella was an interesting character I thought, normally the girls are loving and the guy isnt really interested or too busy doing other stuff, but this time Pip loved her and she was totally uninterested and cold. And the twist with Magwitch having supplied Pips fortune I thought was good as well. 7/10 on the scale of goodness.

Federalists :: American History, Madison, Factions

James Madison was a very intelligent man and was one of the forefathers for our country. In Madison’s Federalist Paper Number 10 he describes the need to control factions in the United States and how the government is to do so. The Federalist papers are a key point in describing how to control â€Å"factions† that are so dangerous to the young government, or so Madison feels. In Madison’s paper he clearly lays out his idea on the sources of factions, his feelings on democracy versus a republic, and how to control factions. To Madison factions, or groups of citizens with mal-intent for the new government, are a threat to the new government and it is impossible to find an acceptable remedy. Madison considers both liberty and the idea of having opposing opinions to be the key sources to factions. This also proves to be the reason why factions can never be eradicated completely. To Madison there are â€Å"two methods of removing the causes of faction: the on, by destroying the liberty which is essential to its existence; the other, by giving to every citizen the same opinions, the same passions, and the same interests.†(pg. A21) Of course both of these ideas are completely preposterous because they are impossible to be had. Removing liberty in the words of James Madison would be â€Å"worse than the disease† (pg. A21) because of the pure fact that to abolish liberty would be to abolish everything fought for in the American Revolution. Madison compares liberty to air in that removing it would rid of the fire, factions, but also kill every life, so basically it is a lose-lose situation. The latter idea of Madison is to basically have everyone think in a homogenous manner, which of course is impracticable. As Madison puts it â€Å"As long as the reason of man continues fallible, and he is at liberty to exercise it, different opinions will be formed† (pg. A22) Men will always have a difference of opinion because we are always influenced by reason and self-love. Madison continues saying that the causes of factions are â€Å"thus sown in the nature of man† (pg. A22) and all we can do is try to control factions but it is impossible to rid of them completely. The federalist paper continues on to Madison’s feelings about having a democracy versus a republic and which he feels is a better decision. Federalists :: American History, Madison, Factions James Madison was a very intelligent man and was one of the forefathers for our country. In Madison’s Federalist Paper Number 10 he describes the need to control factions in the United States and how the government is to do so. The Federalist papers are a key point in describing how to control â€Å"factions† that are so dangerous to the young government, or so Madison feels. In Madison’s paper he clearly lays out his idea on the sources of factions, his feelings on democracy versus a republic, and how to control factions. To Madison factions, or groups of citizens with mal-intent for the new government, are a threat to the new government and it is impossible to find an acceptable remedy. Madison considers both liberty and the idea of having opposing opinions to be the key sources to factions. This also proves to be the reason why factions can never be eradicated completely. To Madison there are â€Å"two methods of removing the causes of faction: the on, by destroying the liberty which is essential to its existence; the other, by giving to every citizen the same opinions, the same passions, and the same interests.†(pg. A21) Of course both of these ideas are completely preposterous because they are impossible to be had. Removing liberty in the words of James Madison would be â€Å"worse than the disease† (pg. A21) because of the pure fact that to abolish liberty would be to abolish everything fought for in the American Revolution. Madison compares liberty to air in that removing it would rid of the fire, factions, but also kill every life, so basically it is a lose-lose situation. The latter idea of Madison is to basically have everyone think in a homogenous manner, which of course is impracticable. As Madison puts it â€Å"As long as the reason of man continues fallible, and he is at liberty to exercise it, different opinions will be formed† (pg. A22) Men will always have a difference of opinion because we are always influenced by reason and self-love. Madison continues saying that the causes of factions are â€Å"thus sown in the nature of man† (pg. A22) and all we can do is try to control factions but it is impossible to rid of them completely. The federalist paper continues on to Madison’s feelings about having a democracy versus a republic and which he feels is a better decision.

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.

Baby Dumping Among the Teenagers

The pie chart shows what could immediate reason for the teenagers to dump babies. There are several reasons for them to dump babies.Based on figure 6, 71% shows the reason for the teenagers to dump babies is feeling ashamed, followed by afraid of parent approval which is contributed 29%.As a conclusion, most of respondents choose afraid of parent approval as an immediate reason for the teenagers to dump babies.Figure 2 The chart above shows respond from respondents about is it fair to dump a baby if the mother is forced to. Based on the figure above, 17.6% of the respondents say yes about this question. Beside that 82.4% of respondent say no.As a conclusion, majority of respondent say no. In fact, child is a priceless gift from Allah SWT. So that is very unfair to punish them because of our sin. It is narrated in holy Al-Quran 81: 8-9 :â€Å"When the girl-child that was buried alive, Is asked for what crime she was slain?'.Therefore, dump a baby not a solution to address this issue. Factors influence of baby dumpingFigure 3From the figures the three highest factors influence of baby dumping are lack of religious upbringing, poor application of religious knowledge and lack of parented care supervision.Figure 1 above showed 20 respondents choosing the lack of religious upbringing is the highest factors responsible for the problem of baby dumping among teenagers in Kuala Lumpur. Meanwhile, 17 respondents choosing the poor application of religious knowledge as a factor number 2 and 11 respondents choosing the lack of parented care supervision as a factor number 3 as a causes for the problem of baby dumping among teenagers in Kuala Lumpur.As a conclusion, there are seven causes of baby dumping. Out of the seven causes of baby dumping from our survey, respondents have choosing the 3 main causes namely, lack of religious upbringing, poor application of religious knowledge and lack of parented care supervision and the two lowest factors of baby dumping are media influe nce and economic problem (poverty).Seven main causes of baby dumping among teenagers in Kuala Lumpur1. Lack of religious upbringing In this case, we don’t deny that the lack of religious upbringing is the main reason for baby dumping cases to occur. Usually, groups of adolescents are involved in the case of abandoned babies. Lack of religious teachings and guidance to life cause them to lose direction in life and engage in negative symptoms, such as free association. Adolescents who are engaged in free sex tend to result in unwanted pregnancy before marriage. In this situation, teens who lose their faith measure inhumane and would leave their newborns  in places like public toilets, litter bins, side drains and so on2. Poor application of religious knowledge â€Å"Religious prayer pole† said our Prophet Muhammad S.A.W. When someone lacks of their religious prayers, their whole life is damaged. Without religious, humans are blind as they cannot have proper guidance to life.3. Lack of parental care supervision Sometimes, parents are always busy with their work. Teenagers must pay attention to them a lot. They need love and they need friends to talk about their problems. Some teenagers like to take opinions from their friends of different gender. When that happen, some of their boyfriends take advantage to do free promiscuity. When unwanted babies are born they are dumped because of absence of adult adence.4. Family break-up Family break-ups happen after a long period of misunderstandings, fighting and unhappiness. Sometimes they happen suddenly and it is hard for children to understand the situation. Children are mostly affected by this kind of situation. If both their mother and father decide to a divorce and cannot raise their children alone, the tendency is that they will dump their child. This child will become homeless and find himself alone.5. Peer Influence In addition, peer influence also leads to cases of baby dumping occurred. This is b ecause at a young age, teens are very easily influenced by their peers. This problem becomes worse when they associate with negative peers. Negative friends will invite young people to do things outside the boundaries of religion and norms of society, such as going to places of entertainment such as disco, taking drugs and doing free association. Many teens who fall into promiscuity, and eventually reach a dead end to find her self with unwanted pregnancy. In desperation, they have to discard their babies.6. Media influence As we know, media such as Majalah Mangga, URTV always publishes many articles and news about social life. Sometimes television also highlights social life. Such matters encourage teenagers to follow the example expose.7. Economic problem (poverty) If the teenagers come from poor family, they always have economic problem. Sometimes they see economic problem as a one way to go far away from the family. Sometimes they become prostitude to make some easy money. So fr om promiscuous activity. When unwanted babies are borned, without think, they dump the babies anywhere without mercy.

Chadwick: A Balanced Scorecard

Needs to focus Its business strategy by first addressing the following questions: How do customers see us? What must we excel at? Can we continue to improve and create value? How do we look to shareholders? The Balanced Scorecard is a set of measures that gives top management a fast but comprehensive view of the business. It details both financial and operational measures by focusing on four parameters: Innovation and Learning Perspective, Internal Business Perspective, Customer Perspective, and Financial Perspective.By adopting the Balanced Scorecard, Chadwick, Inc. Will create a report that Includes financial measures of results already taken together with operational measures that are the drivers of future financial performance. Innovation and Learning Perspective Chadwick will fulfill its company value through its ability to introduce its new products, improve operating efficiencies to generate its revenue. Well-trained employees bring value to a company, and a good training prog ram can improve the employees' performance.The best measurement of training is return on investment (ROI). Chadwick, Inc. ‘s goal Is to create an Increase of new drug Innovation; measured y comparing after-training results to previous pre-training results, setting a benchmark at 5%. The Research and Development department (R&D) plays an important role by getting feedback from the market, customers, and specialists. It will use the feedback to create future products to meet their customer's needs and create profits. The company should set up both short-term and long-term goal for the R;D department.The short-term goal will be measured by two deferent ways: the amount of new product's weight on total sales and time a product takes to be Introduced to the market. New products must occupy 60% of the sales. To measure product introduction, Chadwick, Inc. Can compare the time spends on the new product development and compare it to its competitors. The long-term goal is to maintain t echnology leadership in the industry, measured by Chadwick ability to develop next generation of drug innovation. To motivate the employees, the company should set up a reward system or work environment to stimulate the creativity of Its workers.Chadwick should Incorporate both monetary and non monetary methods to reward its employees. The non monetary awards include: public recognition such as reduce development team award dinners and ceremonies, recognition through video spots or the company newsletter; or, time off like time allocated to work on â€Å"pet† projects, extra vacation for overtime worked, etc. (Sunken, 30). Above all, to build an engaged workforce, enable a rewarding work environment, and leverage technology are essential elements the company must Include when setting measures under Its Innovation and learning perspective.Internal Business Perspective Chadwick Inc. Needs to implement internal business measures to meet its customers expectations. By identifying and measuring specific goals such as new compound velveteen, excellence in manufacturing and new product introduction, Chadwick will ensure its continued market leadership. New compound development will be measured by the number of products in development and focusing on three factors: will make it through, attrition can determine the number of compounds needed in each stage to ensure registration.Cycle time will measure the amount of time it takes for a compound to go through the entire process from development to market introduction. Funding will determine how many projects the company can financially support throughout the year. Based on the three factors, management will be able to calculate how many compounds are needed in each development stage and identify any gaps in its strategy. Chadwick needs to continue its excellence in manufacturing. Creating a quality product at a reasonable cost will ensure customer loyalty and drive profits.The manufacturing development will measur e the unit cost of each drug. Also it will measure the cycle time of each drug focusing on quickness and efficiency. Management will be able to calculate if a certain drug takes longer, or is more expensive to manufacture, and make changes accordingly to minimize cost and improve lead time. Product introduction will be measured by the time it takes to market the newly approved drug. It will also measure the costs associated with introducing the new drug, such as advertisement and incentives to distributors.Management will be able to track each drug and determine if there are any delays in the distributing and marketing process Customer Perspective Customer retention is one of the most important parts in keeping a company going strong. Chadwick must realize that the customer's opinions, finances, and willingness to buy their products are significant in moving forward. One way that Chadwick can see what customers are thinking is to have a section on their website that allows them to a sk questions about the products and to express their concerns about the products that might not be working.If the company provides this option on their website, the innovation and learning perspective can focus on ways to improve the products and keep the customers coming back for more. Another way to see what customers think of the company and its products is to ask them directly, whether it's sending them a survey in the mail or asking them at the doctor's office. These surveys can include questions that refer to which products are effective and not effective, which products consumers tend to purchase, which products people can afford, ask if the products are delivered promptly, and ask whether or not they are satisfied with the service.Since Chadwick is always looking to grow in quarterly sales and increase market share, it is important to see what customers are willing to pay for and which products they are purchasing. It is important to find out which products are not being sol d so Chadwick can take those items off the shelves and save money. Chadwick must see who its target consumers are; they have to find out which age range, gender, and race purchase the products. In order to keep Chadwick customers coming back, Chadwick must provide them with the best products and services.Another great way to stay in touch with customers is a loyalty program. It's a great way to use the email marketing tool and Chadwick can send its loyal customers special offers and let them know about upcoming events and new products. To make the customers feel appreciated, Chadwick can send out birthday greetings with gifts or special offers. This personal touch helps customers understand that Chadwick alee them as individuals and invites more loyalty and trust. Lastly, Chadwick needs to keep its loyal customers involved so Chadwick must ask for their opinions on the that would alienate its loyal customers.From a consumer perspective, a loyal customer would love to have a say in t hings and provide an invaluable incite on the upcoming business plan. After the decision is reached, their word of mouth marketing will achieve more success than almost any type of advertising or marketing efforts Chadwick employ. Financial Perspective Financial performance and measurements continue to be the crucial measurements or both the company and the company's shareholders. Financial goals have been set to determine profitability, growth, and shareholder value. Chadwick, Inc. Seed Return on Capital Employed (ROCK) to control the returns from the most profitable divisions and transfer the excess to those divisions that held out the highest promise for profitable growth. Chadwick implemented the reporting of financial summaries by each division to corporate headquarters. The Chadwick executive committee consisted of the Chief Executive Officer, the Chief Operating Officer, two Executive Vice Presidents, and the Chief Financial Officer. The executive committee met on a monthly b asis with each division manager to review ROCK performance.In order to improve production within the Norwalk Division, we recommend that Chadwick implement to a total quality management program. This program will measure extensively the factors in employee participation, statistical process control, and key quality indicators. Chadwick can use computerized control and remote data entry systems which can produce daily income statements. This information can be available to the department managers and operating personnel. With this information, the value of output from production process can be estimated.This can be accomplished by using market prices and subtracting the expense of raw materials, energy, and capital consumption in the production process. In conclusion, Chadwick, Inc. Needs to create a clearly defined business vision and strategy to properly apply the Balanced Scorecard Theory. The vision and strategy needs to be implemented from top management. Chadwick measurement sy stem will strongly affect the behavior of management and employees. Monetary incentives can be added to the implementation of this program to make it successful.