Microeconomics Term Paper Example | Topics and Well Written Essays - 2000 words

Microeconomics - Term Paper Example The various market structures that are discussed within microeconomics are perfect competition, monopoly, monopolistic competition, and oligopoly. One of the objectives of microeconomics is to analyze the mechanisms of market. Microeconomics sets up the relative prices amongst the services and the goods and allocates the available amount of limited resources among the alternative uses. Some of the significant fields of study under this branch of economics include asymmetric information, general equilibrium, game theory and choices under uncertainty. All wealth that fulfills the wants of consumers constitutes the wealth of a nation. Therefore, the aim behind expanding wealth is broadening the choices of the consumers in terms of quality, quantity and variety. Economists are involved in researches on the idea of free market with socially optimal allocation. The notion of competition constitutes the central part of economic theory. The objects of the choices available to the consumer are called the consumption bundle. The consumer has the objective of maximizing the well being. They are well informed about the availability of the goods in the market and desires variety in their consumption bundle. There are two sets of consumption bundles (x1, x2) and (y1, y2). The consumer ranks the availabilities according to their affordability. When the consumer is just satiated consuming the bundle of x goods as compared to the satisfaction he would have earned consuming the other bundle of y goods, according to his own preferences, then it is said that the consumer is indifferent. The axioms of consumer theory are complete, reflexive and transitive (Samuelson, 1956. p.3). The two axes represent a typical consumption pattern of goods 1 and 2. A consumption bundle (x1, x2) is offered along with the other bundles of consumption that are weakly preferred to the selected bundle. The other consumption bundles are called the weakly preferred sets. The indifference

Analyse the human resource issue relevant to an organization intending Essay

Analyse the human resource issue relevant to an organization intending to expand into the global market - Essay Example The intention of this study is analysis of human resource management (HRM) processes in Australia and the United Kingdom that has been carried out in the point of view of political, economic, legal, and socio-cultural systems and the evolving business situations. The organization of the sections has assisted in emphasizing the impact of fundamental aspects on HRM practices and policies in each nation, and the context-focused character of HRM. For instance, the economy considerably affects HRM in both nations, but its effect differs. For example, in Australia the recessionary situations of the earlier years are weakening employment traditions and encouraging reforms in the system. The United Kingdom has seen an explosion in foreign direct investment. By using UK’s Organon Laboratories Ltd. as a multinational company planning to expand to Australia, each section reveals several HRM challenges in Australia, as well as in the parent country, the United Kingdom. Taking into account the infancy phase of human resource management in several Asia-Pacific nations, such as Australia, and the assumption that HRM in a cross-cultural and cross-national perspective could be best examined by exploring the effect of dimensions of natural culture this paper tries to analyze the effect of the major national aspects on international HRM by using the planned expansion of UK’s Organon Laboraties Ltd. to Australia. ... The main offices of Organon are located in Oss, southern Netherlands, and it has 55 subordinate units across the globe, with two in the United Kingdom: (1) management, marketing, etc. in Cambridge, England, and (2) processing, research and development in Motherwell, Scotland (Tayeb 2005, 210). Organon hires 10,000 people all over the world. It was founded in 1948 and its primary goods are human prescription medication and its market is prescription pharmacies. It is one of the major providers of oral contraceptives and infertility drugs (Tayeb 2005, 210). Astra Zeneca and GlaxoSmithKline are its main competitors. Organon’s mission statement is provided by Akzo Nobel. Nevertheless, being the main actor in the pharmaceutical unit, the company aspires to sustain its independence. Hence mention of Akzo Nobel are silenced, for instance the manner personnel answer callers is ‘Organon Laboratories’ (Tayeb 2005, 211). In other branches their image is more strongly identif ied with Akzo. Each of the two sub-divisions in the UK has a human resource (HR) manager. However, there is only one Managing Director in the UK. The employee guidelines of Scotland are slightly controlled by the main office. The HR manager has acquired the practices and guidelines which have progressed since 1948 (BioPortfolio 2011). Employees have been permitted to develop work hours, payment rules and employment agreements that would meet the needs of the firm in the UK. There has been a productive relationship with the directors who have been major guardians of company guidelines in the UK, such as Cambridge’s Managing Director and Motherwell’s Process Director and Research Director (Tayeb 2005). They were somewhat like-minded with regard to employment issues, the parent

Is the banking industry about to explode Coursework - 1

Is the banking industry about to explode - Coursework Example This research will begin with the statement that the international financial crisis initiated in the United States’ mortgage market and causes a liquidity deficit within the United States’ banking system, the full blow of which began to be felt during the mid of 2007. It resulted in the collapse of various financial institutions and in huge government involvement to stay away from a contagion effect within their economies. The United States credit market default that started the global recession all over the world has changed the financial setting significantly. Since that time, concerned officials have been attempting to come up with solutions to the difficulties that the banking industry, as well as the global financial system, is facing. The banking industry has also been going through a process of reformation lasting over two decades. Market liberalization, as well as the induction of latest information technologies, led to a strong trade growth resulting in several mergers and acquisitions in addition to off shoring potential. The recession started several mutual projects of social associates. During the year 2009, 93 percent of the companies within the banking industry initiated joint bargaining against an average of 84 percent within other industries. Another consideration within the banking industry is that a works council covers 97 percent of companies that have more than 50 workers.

Developing Marketing Strategies and Plans Essay

Developing Marketing Strategies and Plans - Essay Example Marketers also need to be careful about their cost structures. Companies that seem to have firm control over their cost especially in relation to industry requirements are the primary competitors. Also, if a company operates in an industrial that is largely international, then chances are that the most competitive companies are the ones who have a well established global markets and they qualify as primary competitors. On the other hand, some companies may be operating in industries with high levels of vertical integration. For instance, a company liaises with its suppliers to create a larger market force. Such companies end up dominating the market and therefore qualify s primary competitors. (Hope, 1997) The automobile industry is affected by cost structure. It can be argued that they spend most of this cost on production and advertising. In the nineties, Honda managed to establish a name for itself especially in the US market because it invested in new technologies. Consequently, its products were superior to those ones offered by other competitors such as Toyota and it became a primary competitor for Toyota. The second approach that companies can use to identify their primary competitors is through marketing. In this approach, companies need to look out for those companies that satisfy the same needs that they do. The current market has changed drastically. Primary competitors are not just those companies offering the exact same things offered by the company; they are firms that can serve similar needs. This approach requires that marketers trace all the captivities involved while using their product and then examine what other firms perform the same... The researcher states that marketers, that are using the industrial outlook need to realize that all companies providing similar products or services fall in the same categories. Marketers need to ask themselves whether their companies represent the monopolistic structure, oligopolistic structure, monopolistic competition structure or pure competition structures since each of these structures will have different primary competitors. The first structure is made up of only one company providing a particular good or service. Such companies may not need marketers as they dominate the market. Oligopolistic structures may have some competitors in the market but they are fe in number. On the other hand, monopolistic competition applies to those who specialize in certain products. This category has to identify their competitors. Lastly, there is the pure competition structure where all competitors offer the same products. The automobile industry, that was discussed as an example in this essa y can be classified under the pure competition sector but there may be instances when it also falls under the monopolistic competition structure. The essay suggests that the competition became a major issue today, that is affecting marketing strategies and companies, that need to be aware of this. Market followers can adopt leaner production strategies and reduce prices of common products. Market challengers can use price, distribution, promotion and product innovation as ways of maintaining competitive advantage.

Reflective Statement on Career Choosing Essay Example | Topics and Well Written Essays - 1500 words

Reflective Statement on Career Choosing - Essay Example Body 1. Theories of career choice and the DOTS model of career decision-making Based on the DOTs model, there are four careers education tasks which have to be accomplished by the student in order to ensure the development of opportunity awareness, self awareness, decision learning, and transition learning. Opportunity awareness refers to the assistance given to students in order to enable understanding of the world they are going to enter, the various opportunities therein, the demands that this world shall make of them, and the rewards offered (Law and Watts, 2003). Self-awareness refers to the assistance given to students in order to give them a better sense of self as individuals with unique qualities. Decision learning refers to assistance offered to students to understand the various ways in which their decisions can be made. Finally, transition learning considers the assistance given to students in order to be more aware of the skills they would need to handle transitions they need to take as grownups (Law and Watts, 2003). In terms of opportunity awareness as a future early years teacher, the DOTs model prompts me to understand the work of an early years teacher and the different opportunities open to me in that field. I also need to reflect on the professional requisites this profession has in order to permit me future entry. I would also consider the different demands that teaching in the early years would bring as well as the rewards it would likely offer. It is also appropriate for me to contemplate on alternatives to teaching or social work based on my degree. In relation to self-awareness, I especially enjoy working with children and my joy in working with them also motivates me to consider this profession in the future. Experience in my current work has also given me the chance to experience teaching children and such experience has motivated me further in contemplating teaching in the early years. In terms of transition learning, I was able to l earn during the semester about writing personal statements, as well as gaining interview skills. I was able to use these skills in taking into account what happens in assessment centres and details to indicate in application letters. 2). The professional and professionalism: Professions are those which consider the kinds of occupation which are understood to mean ‘professions.’ There may be major and minor professions or primary and secondary professions and the major professions are those which include business management, with primary professions including senior military officers, police chiefs, judges, and teachers and professors (Lester, 2007). Medicine and law are usually counted as professions as well, including architects, engineers, dentists, teachers, accountants, and veterinarians. Professionals have an implied expertise and knowledge of their professions; and he is also one who commits to the principles of the profession, as well as autonomous thought and ju dgment (Lester, 2007). Professions are also usually recognized by professional bodies as experts in some field of study or skill unique and distinct to their field of practice. Some occupations may be considered professions based on the perspective taken on the subject matter. It is not necessary for a profession to have a professional body. However, such

Syrian revolution Research Paper Example | Topics and Well Written Essays - 1000 words

Syrian revolution - Research Paper Example It also has a complex terrain with a desert, mountains and plain land that caused fragmentation in the socio-cultural diversity. Syria is unique in the history of the world especially due to the inclusion of Lebanon and Palestine in its boundaries. Even though Syria is small in size, it has an immense influence (Hitti 3). In the 1800s, the Ottoman Empire was composed of Syria, Israel, Lebanon, Jordan and Palestine. Historically, Syria was initially made up of two separate divisions that are the city and the desert. The city represented a place of wealth and power since it became the route of trading between the East and the West. Syria became a bridge of spreading culture from its neighbors thus becoming loci of civilization and commercial wares (Hitti 4). Civilization in Syria has been continuous and has been largely influenced by the Western culture. In the pre-history Syria, there was wheat plantation, copper was discovered and there was the emergence of pottery. These development s brought about changes in the pattern of life. The Agrarian Revolution started and people began to live a more settled life in small villages and towns (Hitti 6). The surface occupied by the desert is 10% but it became an agrarian society. Agriculture flourished when the state provided security and irrigation. Syria was succeeded by military empires with no sovereign ruling class. One of the greatest empires was the Ottoman (1516-1918) which was headed by a religious sultan. Land was owned by the state and the people were seen as flocks that were to be protected and swindled to sustain the ruling class. Islam was the key unifying creed of the state which ensured that there was allegiance to the state, 90% of the people in Syria were Muslims. Ottoman Empire enhanced bigger markets, improved security and the protection of the peasants against prospective landlords’ thus stimulating trade and industry growth. With the fall of the Ottoman empire after the World War 1, Arabic pro vided an element of an alternative identity (Seale 4-7). Until 19th century the state owned most of the land hence there was no emergence of estate class, resulting to agricultural decline. Due to the decline in the Syrian economy in the 18th century the state became vulnerable to the Western power (Seale 7-10). The European commercial treaties did not protect the Syrian textile industries. The Europeans who had interest in Syria encouraged the intensification of cash crops production. This created a class of middlemen and money lenders mostly dominated by the minority group- the Christians. Commercial agriculture and private ownership did not stimulated agriculture revolution. The French rule, did not go beyond trade and infrastructure. In 1921-1946, Syrian people revolted against their colonizers until they got their independence in 1946. Thus, the early capitalist penetration stimulated a reliant, lopsided and partial development in Syria. It resulted to a modern state with a pat rimonial culture and a dependent economy. Agrarian emergency, class conflict and the drastic change in the army further weakened the frail Syria. The country has emerged through the patriotism which made the country become the heartbeat of the Arabian nationalism. Arab unity and Anticolonialism came about due to the Ba’th party which brought a corrupt political order that resulted to backwardness in political, economical and social structures (Seale 39).The party experienced many weaknesses resulting to the radical change in the country’

Faulty forensic science Essay Example | Topics and Well Written Essays - 1250 words

Faulty forensic science - Essay Example ts as to why there is a need for a centralized governing forensic science body to oversee the crime labs, and also look into the possibility that maybe, just maybe, forensic science is not always at fault when it comes to the acquittal or conviction of a criminal. Acknowledging the fact that the forensic field of criminal investigation is not fool-proof, the United States Department of Justice has decided that the time has come to establish a forensic commission that will set the standards and oversee the functions of crime labs nationwide. This commission is expected to set the standards that will be used to determine the forensic guilt of a criminally charged person. through the creation of a â€Å"a professional code for forensic scientists, set certification requirements and advise the Attorney General... In addition, the National Institute of Standards and Technology will double-check existing forensic science standards and develop new ways of making forensic measurements.† (Diep, â€Å"New Commission to Set Standards for Troubled Forensic Sciences†). Currently, there are no uniform rules existing to guide the forensic labs in the discharge of their jobs. The commission is expected to standardize their function and offer a sense of uniformity in their investigation and experimentation procedures. In 2009, the National Academy of Sciences reported that â€Å"much of the â€Å"science† used in crime labs lacks any form of peer review or validation – fundamental requirements for sound science. Such questionable forensic methods include long-established and accepted techniques such as fingerprint comparison, hair and fiber analysis, and bullet matching† (Clarke, â€Å"Crime Labs in Crisis: Shoddy Forensics Used to Secure Convictions†). The creation of this commission will then make the forensic labs answerable to the commission and prevent the failure of the justice system by sending an innocent person to prison or releasing a guilty person back into the general