Objectives of the Firm Essay

The standard economic assumption underlying the analysis of firms is profit maximization. Real world firms, however, might not, and many times do not, make decisions based on the profit-maximization objective, or at least exclusively on the profit-maximization objective. Other objectives include: (1) sales maximization, (2) pursuit of personal welfare, and (3) pursuit of social welfare. Although firms are assumed to make decisions that increase profit in standard economic analysis, real world firms often pursue other objectives on a day-to-day basis. Some firms set their sights on maximizing sales. For other firms the owners or employees are inclined to enhance personal living standards. And more than a few firms take steps that promote the overall welfare of society. In some cases, these other objectives help a firm pursue profit maximization. In other cases, they prevent a firm from maximizing profit. Profit Maximization Profit maximization is the process of obtaining the highest possible level of profit through the production and sale of goods and services. This is the guiding principle underlying the analysis of short-run production by a firm. In particular, economic analysis is assumed that firms undertake actions and make the decisions that increase profit. Profit is the difference between the total revenue a firm receives from selling output and the total cost of producing that output. Profit-maximization means that a firm seeks the production level that generates the greatest difference between total revenue and total cost. Consider how profit maximization might work for The Wacky Willy Company. Suppose that The Wacky Willy Company generates $100,000 of profit by producing 100,000 Stuffed Amigos, the difference between $1,000,000 of revenue and $900,000 of cost. * If profit falls from this $100,000 level when The Wacky Willy Company produces more (100,001) or fewer (99,999) Stuffed Amigos, then it is maximizing profit at 100,000. Alternatively, if profit can be increased by producing more or less, then The Wacky Willy Company is NOT maximizing profit at the current level of production. Suppose, for example, that producing 100,001 Stuffed Amigos adds an extra $11 to revenue but only $9 to cost. In this case, profit can be increased by $2, reaching $100,002, by producing one more Stuffed Amigo. As such 100,000 is NOT the profit maximizing level of production. * In contrast, suppose that producing 99,999 Stuffed Amigos reduces cost by $11 but only reduces revenue by only $9. In this case, profit can also be increased by $2, reaching $100,002, by producing one fewer Stuffed Amigo. As such 100,000 is NOT the profit maximizing level of production. Sales Maximization A reasonable, and often pursued objective of firms is to maximize sales, that is, to sell as much output as possible. Clearly sales lead to revenue, meaning that maximizing sales is also bound to maximize revenue. But as the analysis of short-run production indicates, maximizing sales does NOT necessarily maximize profit. So why do firms do it? Are firms unreasonable? Are they irrational? Do they NOT understand the basic economic principles of short-run production? For some firms, the answers to these questions could be yes. But for other firms, sales maximization is actually a reasonable, even better, alternative to profit maximization. Consider, the day-to-day production of Wacky Willy Stuffed Amigos. Suppose the President of The Wacky Willy Company, William J. Wackowski, issues a corporate directive to sell as many Stuffed Amigos as possible, to maximize sales. Is Willy Wackowski wacky? It might be that Mr. Wackowski has no knowledge of basic economic principles. Alternatively Wacky William might have more business sense than it appears. In particular, if the price received from selling Stuffed Amigos is greater than the cost of producing each one, and looks to remain that way regardless of the quantity produced, then a reasonable goal is to maximize sales. If sales are greater, then so too is profit. Wacky Willy does NOT maximize profit under these circumstances. That is, it does not produce the quantity that achieves the highest possible profit. However, with each Stuffed Amigo produced, profit increases. In fact, Wacky Willy might not KNOW the profit-maximizing production level. All it knows is that selling more Stuffed Amigos, increases profit. While sales maximization can serve as a means of pursing profit maximization, it can also prevent a firm from maximizing profit. The reason, of course, is that if sales become so large that the cost of production increases such that marginal cost exceeds marginal revenue, the maximizing sales does not maximize profit. Pursuit of Personal Welfare The people who make decisions for a business are, in fact, people. They have likes and dislikes. They have personal goals and aspirations just like people who do not make decisions for firms. On occasion these people use the firm to pursue their own personal welfare. When they do, their actions could enhance the firm’s profit maximization or, in many cases, prevent profit maximization. How about a few examples? Once again, consider William J. Wackowski, the president of The Wacky Willy Company. Perhaps Willy enjoys the finer things in life–a large house, fancy cars, and expensive vacations–which require a hefty income. As the primary stockholder of The Wacky Willy Company, when the business maximizes profit, then William J. Wackowski benefits with more income. In this case, the pursuit of personal welfare coincides with profit maximization. Alternatively, suppose that the Mr. Wackowski hates the color purple. He simply refuse to produce ANY purple Stuffed Amigos. However, market studies clearly indicate that buyers want purple Stuffed Amigos. Moreover, the purple fabric that would be used to produce purple Stuffed Amigos is significantly less expensive than other colors. Mr. Willy clearly is wacky in this case. His purple-phobia prevents profit maximization. William the Wackster might also decide to enhance his corporate lifestyle at the expense of corporate profit. He could, for example, give himself a bigger, more luxurious (but unneeded) office, a higher (but unneeded) salary, a company jet (also unneeded), season tickets to Shady Valley Primadonnas baseball team (clearly unneeded) and other (unneeded) amenities that are NOT needed to profitably produce Stuffed Amigos. These improve William’s personal welfare, but at the expense of corporate profit. Pursuit of Social Welfare The people who make decisions for firms also have social consciences. Part of their likes and dislikes might be related to the overall state of society. As such, they might use the firm to pursue social welfare, which could enhance or prevent the firm’s profit maximization. How might William J. Wackowski’s pursuit of social welfare enhance or prevent profit maximization of The Wacky Willy Company? Suppose that William wants a cleaner environment. As such, he might implement more costly environmentally â€Å"friendly† production techniques and materials. He does his part to â€Å"clean the environment,† but at the expense of company profit. Then again, Mr. Wackowski might feel that government environmental quality regulations restrict capital investment and economic growth. As such, William might have The Wacky Willy Company use part of its advertising budget to promote this view point. He might even use company revenue to set up the Wackowski Foundation for Policy Studies that is both a scientific think tank and a special interest lobbying organization with the goal of reducing environmental quality regulations. While the pursuit of social welfare is likely to reduce company profit, it could have the opposite effect as well. Such activities could give The Wacky Willy Company a likeable public image that motivates people to buy more Stuffed Amigos than they would otherwise. In fact, some firms use the pursuit of social welfare as one aspect of their overall advertising efforts. They enhance their public image at the same time they do something â€Å"good† for society. Natural Selection Whichever objective a firm pursues on a day-to-day basis, the notion of natural selection suggests that successful firms intentionally or unintentionally maximize profit. That is, the firms best suited to the economic environment, and thus generate the most profit, are the ones that tend to survive. The natural selection of business firms is an adaptation of the biological process of natural selection, in which biological entities best suited to the natural environment are the ones that survive. The concept of economic natural selection means that those firms that generate the greatest profit are the ones that avoid bankruptcy and survive to produce another day. While firms might pursue sales maximization, personal welfare, or social welfare, only those firms that also maximize profit remain in business. 2) The following   is from chapter one in the text   Financial Management and Policy, by James C. Van Horne, Copyright 1974 by Prentice-Hall. It is classic finance. THE OBJECTIVE OF THE FIRM In this [course], we assume that the objective of the firm is to maximize its value to its shareholders. Value is represented by the market price of the company’s common stock, which, in turn, is a reflection of the firm’s investment, financing, and dividend decisions. Profit Maximization vs. Wealth Maximization Frequently, maximization of profits is regarded as the proper objective of the firm, but it is not as inclusive a goal as that of maximizing shareholder wealth. For one thing, total profits are not as important as earnings per share. A firm could always raise total profits by issuing stock and using the proceeds to invest in Treasury bills. Even maximization of earnings per share, however, is not a fully appropriate objective, partly because it does not specify the timing or duration of expected returns. Is the investment project that will produce $100,000 return 5 years from now more valuable than the project that will produce annual returns of $15,000 in each of the next 5 years? An answer to this question depends upon the time value of money to the firm and to investors at the margin. Few existing stockholders would think favorably of a project that promised its first return in 100 years. We must take into account the time pattern of returns in our analysis. Another shortcoming of the objective of maximizing earnings per share is that it does not consider the risk or uncertainty of the prospective earnings stream. Some investment projects are far more risky than others. As a result, the prospective stream of earnings per share would be more uncertain if these projects were undertaken. In addition, a company will be more or less risky depending upon the amount of debt in relation to equity in its capital structure. This risk is known as financial risk; and it, too, contributes to the uncertainty of the prospective stream of earnings per share. Two companies may have the same expected future earnings per share, but if the earnings stream of one is subject to considerably more uncertainty than the earnings stream of the other, the market price per share of its stock may be less. For the reasons above, an objective of maximizing earnings per share may not be the same as maximizing market price per share. The market price of a firm’s stock represents the focal judgment of all market participants as to what the value is of the particular firm. It takes into account present and prospective future earnings per share, the timing, duration, and risk of these earnings, and any other factors that bear upon the market price of stock. The market price serves as a performance index or report card of the firm’s progress; it indicates how well management is doing in behalf of its stockholders. Management vs. Stockholders In certain situations the objectives of management may differ from those of the firms stockholders. In a large corporation whose stock is widely held, stockholders exert very little control or influence over the operations of the company. When the control of a company is separate from its ownership, management may not always act in the best interests of the stockholders [Agency Theory]. [Managers] sometimes are said to be â€Å"satisficers† rather than â€Å"maximizers†; they may be content to â€Å"play it safe† and seek an acceptable level of growth, being more concerned with perpetuating their own existence than with maximizing the value of the firm to its shareholders. The most important goal to a management [team]of this sort may be its own survival. As a result, it may be unwilling to take reasonable risks for fear of making a mistake, thereby becoming conspicuous to the outside suppliers of capital. In turn, these suppliers may pose a threat to management’s survival. It is true that in order to survive over the long run, management may have to behave in a manner that is reasonably consistent with maximizing shareholder wealth. Nevertheless, the goals of the two parties do not necessarily have to be the same. Maximization of shareholder wealth, then, is an appropriate guide for how a firm should act. When management does not act in a manner consistent with this objective, we must recognize this as a constraint and determine the opportunity cost. This cost is measurable only if we determine what the outcome would have been had the firm attempted to maximize shareholder wealth. A Normative Goal Because the principal of maximization of shareholder wealth provides a rational guide for running a business and for the efficient allocation of resources in society, we use it as our assumed objective in considering how financial decisions should be made. The purpose of capital markets is to efficiently allocate savings in an economy from ultimate savers to ultimate users of funds who invest in real assets. If savings are to be channeled to the most promising investment opportunities, a rational economic criteria must exist that governs their flow. By and large, the allocation of savings in an economy occurs on the basis of expected return and risk. The market value of a firm’s stock embodies both of these factors. It therefore reflects the market’s tradeoff between risk and return. If decisions are made in keeping with the likely effect upon the market value of its stock, a firm will attract capital only when its investment opportunities justify the use of that capital in the overall economy. Put another way, the equilibration process by which savings are allocated in an economy occurs on the basis of expected return and risk. Holding risk constant, those economic units (business firms, households, financial institutions, or governments) willing to pay the highest yield are the ones entitled to the use of funds. If rationality prevails, the economic units bidding the highest yields will be the ones with the most promising investment opportunities. As a result, savings will tend to be allocated to the most efficient users. Maximization of shareholder wealth then embodies the risk-return tradeoff of the market and is the focal point by which funds should be allocated within and among business firms. Any other objective is likely to result in the suboptimal allocation of funds and therefore lead to less than optimal level of economic want satisfaction. This is not to say that management should ignore the question of social responsibility. As related to business firms, social responsibility concerns such things as protecting the consumer, paying fair wages to employees, maintaining fair hiring practices, supporting education, and becoming actively involved in environmental issues like clean air and water. Many people feel that a firm has no choice but to act in socially responsible ways; they argue that shareholder wealth and, perhaps, the corporations vary existence depends upon its being socially responsible. However, the criteria for social responsibility are not clearly defined, making formulation of a consistent objective function difficult. Moreover, social responsibility creates certain problems for the firm. One is that it falls unevenly on different corporations. Another is that it sometimes conflicts with the objective of wealth maximization. Certain social actions, from a long-range point of view, unmistakably are in the best interests of stockholders, and there is little question that they should be undertaken. Other actions are less clear, and to engage in them may result in a decline of profits and in shareholder wealth in the long run. From the standpoint of society, this decline may produce a conflict. What is gained in having a socially desirable goal achieved may be offset in whole or part by an accompanying less efficient allocation of resources in society. The latter will result in a less than optimal growth of the economy and a lower total level of economic want satisfaction. In an era of unfilled wants and scarcity, the allocation process is extremely important. Many people feel that management should not be called upon to resolve the conflict posed above. Rather, society, with its broad general perspective, should make the decisions necessary in this area. Only society, acting through Congress and other representative governmental bodies, can judge the relative tradeoff between the achievement of a social goal and the sacrifice in the efficiency of apportioning resources that may accompany realization of the goal. With these decisions made, corporations can engage in wealth maximization and thereby efficiently allocate resources, subject, of course, to certain governmental constraints. Under such a system, corporations can be viewed as producing both private and social goods, and the maximization of shareholder wealth remains a viable corporate objective.

Descent from the Cross

In Rubens’ Descent from the Cross the element that makes the oil on canvas baroque in nature is that of the attention to detail. Rubens’ was contrary in his painting, which was a personal part of his artistry and not defined by the Baroque art period. His bodies in his paintings, though in action or even in repose were depicted although with muscles tone, the muscles seemed flaccid, as is the case in the above mentioned painting. The wounds of Christ are Baroque in their depiction because it is the opposite of what previous artistic movements has focused upon.There is the revelation of power in the gathering disciples and in the color palate being manipulated in the painting the subtle tones and the attention to chiaroscuro is what gives the painting a very Rubenesque feel. The viewer’s attention again is draw towards the bodies; albeit muscular, they are not showing signs of body fat, they are perfected in their grief, and in the area of opposites, this is what Rubens wanted to capture; the perfect body juxtaposed with very human emotions; the god body paired with humanity.In exact contrast to Rubens depiction of Christ’s flaccid yet toned body, Velazquez gives the viewer a Christ who hangs somber on the cross. His body is in classic Greek contrapposto; his body is aligned in an S-curve. The starkness of the painting; the black background, and the striking whiteness of Christ’s body adds to the power of the moment; the messiah on the cross. Rubens’ painting was chaotic with colors, but Velazquez shows restraint in this painting by allowing the moment, and the feeling transcend the painting, by toning down the colors. As opposed to Rubens’ Christ, Velazquez introduces the viewer to the bodies position on canvas.Rubens engaged other participants with Christs’ movement off the cross. Rubens has a similar piece which is depicting Christ being hoisted upon the cross. Velazquez on the other hand shows Christ so litary in the painting; he endures by himself, which is in itself a great contrast to the jumble of bodies prevalent in Rubens piece. Rubens also denoted a lot of muscle mass to Christ while Velazquez depicts his Christ more like a younger, realistic man; Velazquez makes his Christ human with human qualities and while Rubens portrays Christ bleeding the same human sentiment is not shown.Velazquez shows Christ himself grieving on the cross instead of Rubens’ painting where everyone but Christ is grieving and this is what makes Velazquez’s Christ human. Titian portrays Magdalene in somber tones, that are prevalent throughout the High Renaissance. The tones and colors used create a mood of reserved trepidation and the facial expression used is that of inquiry. This inquisitiveness is subtle in Titian’s art, but in certain facial expressions and through the use of color, the look of the characters becomes sometimes inquisitive, royal, or even pensive. The dark yet v ibrant colors employed by Titian exhibit a dreamlike state.The bodies contrapositions to one another serve to pair them, or in other Titian art, the sole character has body movements that puzzle together. What is typical in a Titian painting and Christ Appearing to the Magdalene is not exception, is the muted colors. The Rubens’ painting The Raising of the Cross is similar in fashion to Titian’s portrayal. Both use excellent color combinations to enhance the shadows in the paintings. The highlights on Christ’s body in Rubens’ painting is simply astonishing. The rest of the figures are clad in shadow, especially their faces.The curious counterpoint to this technique is that Titian uses shadow just as eloquently but with different results. Rubens’ shadows implore the viewer to judge the paintings, the scan the highlighted figure and question why the other figures are caste in shadow. Titian’s painting also begs the question of the shadows but his point is more clearly made; shadow is consistent with grief. If the viewer takes another glance of Rubens’ painting they will see that the shadowy figures’ faces are looking away from Christ in shame while one stares straight at him with wide-struck eyes as if not only in disbelief but in fear.Rubens was unique in incorporating foreground activity in his paintings. In The Raising of the Cross, there a dog in the foreground interested in the human activity (also, dogs are synonymous with loyalty; albeit, Rubens wanted to incorporate that idea with Christ). Rubens liked to have the human body in action in a specific setting, as has been the case for the previously analyzed Rubens painting. Rubens’ painting had an Italian influence with the male body. Just as Michelangelo depicted the male body in supreme example of humanity based after the Greek forms, so did Rubens want Christ to resemble those same perfected bodies.Titian’s painting does not do this, but instead, like Velazquez focuses on Christ’s humanity. Rubens had elements of other artists involved with his paintings such as the Caravaggio technique with light, making Christ the holder and light attraction in the paintings, highlighting his person and shadowing the rest. Also, the painting is a hubbub of activity which is reminiscent of Tintoretto’s busy canvases. The body’s of Rubens’ artwork seem to be bursting from the canvas, not only because of their muscle mass but the activity they are accomplishing and the fact that Rubens did not allow the edge of the canvas to dictate the end of action.One man’s body is cut off, lost to the edge of the canvas just as on the other side another man is constructed in similar fashion. This is not seen with Titian, even though he takes the body in asymmetric alignment with other points on the canvas. Rubens focuses his bodies in a diagonal axis in order to distribute action throughout the canvas. This is another point where Titian is different; his action does not give way for diagonals. Works Cited Sporre, Dennis. (2008). The Creative Impulse: An Introduction to the Arts. 8th edition. Prentice Hall.

Functional Areas and Communication Essay

Manchester airport must be able to recruit the best employees and make sure they work effectively and safely. The responsibility for these tasks lies with the human resources department. HRD is involved with staff development. The department is divided into five different areas; recruitment retention and dismissal, working conditions, training development and promotion, employee organisations and unions and health and safety. Recruitment is getting the right people for the jobs, retention is keeping them and dismissal is where the employee is required to leave their job. The staff in the ‘working conditions’ department assesses everyone’s working environment within Manchester airport and decides if it needs improvement and how to do it. The ‘training, development and promotion’ department deal with the quality of the employees work; if they need to go on a training course to refresh their skills or find out how the job and company works or to get promoted because their standard of work is excellent. The ’employee organisations and unions’ department deals with care groups within the work life. The ‘health and safety’ department deal with the health and safety of everyone’s working environment and make sure that all the regulations are complied with. All businesses such as Manchester airport need to manage all the incoming and outgoing money. They also need to understand this information in order to plan what to do next. The finance department deals with these three areas; preparing accounts, paying wages and salaries and obtaining capital and resources. There are three types of account, financial accounts, cost accounts and management accounts. Financial accounts are usually found in large organisations such as Manchester airport, it deals with how much has been spent and how it has effected the profits. Cost accounts calculate the cost of the businesses services and products. The management accountant deals with the actual income and expenditure of each of Manchester airports activities. The work of the finance department affects other areas within Manchester airport because it funds them for improvement expansion and development. The administration and IT support function helps Manchester airport run smoothly from day to day. This could cover a number of different tasks such as clerical work, cleaning and maintainance, health and safety, security and support for software applications, electronic communications and electronic transactions. IT might be used to cut costs and improve Manchester airports services. This might be achieved by use of electronic communication between departments such as e-mail and the Internet or different facilities to share common data like employee records and financial data. Security systems, external communications, online support for customers and electronic transactions might also help to achieve this. Clerical work deals with administrative tasks such as mail, keeping records, logbooks, references and organising meetings. Mail can be delivered two ways, by direct delivery or private box. Direct delivery means the post is sent directly to the firms business address. In large firms such as Manchester Airport the delivery will be to the reception desk. The disadvantage of this is that work cannot begin on the mail until a delivery has been made. Alternately firms can rent a box at the local post office each box has a number that is part of the firms address. Mail addressed to the firms Post Office box (PO box) number is stored until a representative of the firm arranges to collect it. The collection time can be arranged for before most of the employees start work so as soon as they arrive they can start work on it. The procedures of opening mail vary according to the size of the firm. In small organisations the people to whom the letters are addressed will open them and deal with them directly. This system will be used for the individual branches of McDonald’s. in larger firms the unopened mail will be sorted into piles for each department or to people to whom they are addressed. Then the letters will be opened. In all but the smallest of organisations a secretary or manager will open the letters and in the larger firms there will be a mail room to deal with incoming and outgoing mail. Manchester Airport will have a mail room. Businesses store their records in a variety of ways, for example as photocopies or on computer disc. IT makes this process easior and faster. Filing is very important especially in large business such as Manchester Airport where the amount of information increases at a more rapid rate than in smaller businesses for instance the individual branches or McDonald’s. documents can be filed in a variety of ways, alphabetically, chronologically (on order of date) or geographically (according to county, town or country they were sent). Logbooks is used to record chosen activities. The most common use of logbooks in businesses is probably the post book. They can also be used to record who has taken which document to which department and visitors are often asked to sign in and out of a log book. Logbooks are a useful way of recording actions so that information can be tracked down easily. They will be used more in larger organisations which have a lot of valuable information rather than a small business which receives and creates only a small amount of documents.

Kiowa song Essay Example | Topics and Well Written Essays - 500 words

Kiowa song - Essay Example According the legends, Kiowa belonged to the Yellowstone River territories in Western Montana from where they migrated to the Black Hills. Their culture primarily centered on their associations with the Buffalo. Nearly all aspects of Kiowa life had internalized buffalo. For instance, their tepees, clothes, and moccasins were all prepared with buffalo skin. They used the whole buffalo for several daily life functions. In addition, buffalo had been central to Kiowa religion which is expressed in many rituals. For instance, Sun Dance, healing prayers, and ritualistic songs are strongly associated with Kiowa quest and honor for great buffalo herds (Hager). During nineteenth century, Kiowa culture was devastated by buffalo herd obliteration on Great Plains. With exceeding buffalo hunt by professional hunters, Kiowa culture and religion were also crushed. Buffalo hide served as a precursor of modern art tradition as Kiowa’s used it as their canvases for recording the intricate detai ls, story, and drawings of the fall of nomadic culture. In their encounter with white culture, imprisoned Kiowa warriors expressed their nostalgia and sorrow to ledger-book drawings. These drawings were acknowledged by white culture as elaborate roots of Indian art (Hager). Kiowa songs and dances originated from the tribal tradition and experiences of death and life.

The Historical Extension of the Federal Government's Power Over the Research Paper

The Historical Extension of the Federal Government's Power Over the States - Research Paper Example It attained this by prohibiting the states from infringing upon the rights and protection of the American populace. It also prevents the state from arbitral denial of the right to life and property without the due course of the decrees, and affords every individual within the jurisdiction of the state equal protection of the law. Over the years, the Supreme Court and the federal courts have adopted different interpretations of the fourteenth amendment. It is this reinterpretation, of the amendment, that has gradually changed the law of on the fourteenth amendment. This reinterpretation was reflected in various case laws that have been decided over the years. Barron v. Baltimore, 32 U.S. 243 (1833) This was the first judicial interpretation on whether the Bill of rights could limit sate powers. In this case, Baron had argued that the Constitution limited powers of both the state and federal governments, and proceeded to give the limitations on state power specified under Article 1 Sec tion 5 (Phelan, 2008). Marshal J, in a dissenting opinion, held that the Bill of Rights in any way did not limit state power, and if it was intended to limit sate power, it could have expressly stated so (Phelan, 2008). In his judgment, Marshal J applied the law as it was as opposed to what it ought to have been. He directly and strictly interpreted the fourteenth amendment to hold that it did not apply in limiting state power, but rather acted only to limit the power of the federal government. In informing his decision, Marshal J noted that the provisions that were sought to be relied upon were in the passive voice, as opposed to direct language, and the provisions under Article 1 could not be applied to limit state power. The use of passive voice, could not answer the question ‘by whom’ and it was thus incapable of determining whether the provisions of Article 1 were binding upon the states as well (Rosenkranz, 2011, 1010). Article 1, on which Barrron sought to rely o n, was framed in general terms, read passive voice, and could thus not be directly linked to limiting the state power because it could not answer the question; limited by whom? Had such provision been intended to limit state power, it could have taken a more direct tone. This, for example, could have been evidenced by the use of direct terminology such as ‘the state shall....’ or ‘No state shall....’ Although convectional wisdom may have dictated the fact that the use of the passive voice is ambiguous, Marshal J was undeterred in his stance as he applied the constitutional interpretation rule that the constitution ought to be read as a whole (Rosenkranz, 2011, 1012). In light of this therefore, if Article 1 section 9 were meant to limit state powers, then it would not have been framed in general terms. It should thus have been framed in a manner that answered the ‘by whom’ question. The logic applied in Barron is that when the Constitution seek s to limit power in passive voice, it is then limiting the authority of the government that it established. This logic is not necessarily correct because there is the horizontal dimension to separation of state power (Rosenkranz, 2011, 1015). If an interpretation were sought using this concept, then the court would have found that the Bill of rights could also limit state power horizontally. In other words, the strict application of the canon of grammatical consistency need not be construed so rigidly as to rule out flexibility in interpretation (Rosenkranz, 2011, 1016). Weeks v. U.S., 232 U.S. 383 (1914) This case sought to give an interpretation

History Essay Example | Topics and Well Written Essays - 500 words - 95

History - Essay Example These campaigns have however occurred in different periods of time, with each exacting its own influence on the feminist movement. This paper focusses on the evolution of the feminist movement in the 1960s and 1970s. Often referred to as the â€Å"second wave feminism† the 1960s and 1970s feminist movement arose out of the turbulent social turmoil experienced during this period of American history. In these years, the feminist movement became more radicalized, under the directorship of various outspoken American women. The 1960s and 1970s were characterized by a mass entry of women into the workforce as a result of shifting workplace stereotypes against women in the previous decades. Accordingly, the Second wave feminist movement was primarily focused on disassembling workplace inequality, including salary inequity and increasing women’s access to better jobs. Feminists proposed to achieve this by seeking the abolishment of discriminatory laws and unfair labor practices. To this end, feminist activists distributed education materials to women across the country, regarding reproductive health and sex and pursued the legalization of all types of birth control. Feminists created polit ical organizations and published articles, books, as well as essays critiquing sexism and patriarchy in society. However, to achieve equality, feminists realized that women were required to transform the manner in which the society spoke about, thought of, and treated women. This required more than merely changing laws — this demanded a radical shift in every aspect of the American society to ensure that men and women would be regarded as equals. The main objective of feminists in this period was to reverse the ubiquitous belief that since women differed from men biologically, they were inherently more emotional, intellectually inferior, and were better off executing to domestic chores as compared to professional tasks and politics. Additionally, the feminist movement of the

An Introduction to Entrepreneurship Coursework Example | Topics and Well Written Essays - 1500 words

An Introduction to Entrepreneurship - Coursework Example Understanding the different aspects which are a part of the entrepreneurial behaviors and expectations defines the associations and roles that pertain to business with the individual. Skills, Abilities and Behaviors The generalized concept of being an entrepreneur is based on working independently while moving into business endeavors. However, the business ventures which are created differ from other forms of business. The first difference is noted with an enterprise, which is created through a board of directors or sector of leaders with a hierarchical expectation that is established. While this particular venture may have been established by an entrepreneur, it is expected that the team collaboration and hierarchy separates the individual behaviors from the group modifications which take place. The intrapreneur is another form of leadership which many attribute to the same concept. While there are several similar skills in terms of leadership, this differs because the position is u sually based on management as opposed to starting a new venture without the use of a corporation or other entity. The entrepreneur is then defined as one which differs because of the independent nature and the characteristics of leadership used for innovation and creativity outside of other types of business ventures (Ucbasaran, Westhead, Wright, 2009: p. 99). The main difference in character with entrepreneurs is what leads to the different skills, abilities and behaviors among these business leaders. There are five known personal characteristics which create a difference between entrepreneurs and other types of leaders. This includes being open to experience, being conscious and aware of surroundings, being flexible, being agreeable and carrying a vision based on these determinants. The concept that is associated with these skills is reflective of the psychological expectations that lead to leadership skills, innovation and the ability to create and portray different ideologies in relation to the surrounding environment (Zhao, Seibert, 2006: p. 259). These psychological behaviors then lead to expectations of skills and abilities. Creativity, capability to find opportunities and performing several tasks are some of the skills expected. Entrepreneurs are known for switching skills easily while a business grows while moving in between positions and working with initiatives while creating the necessary ventures (Silva, 2007: p. 118). Creative Thinking The ability to work with leadership skills, behaviors that initiate new ventures and skills that are able to move between various positions then leads to the concepts of creative thinking which are developed by entrepreneurs. The structure that is developed with entrepreneurs is based on the intention of an individual first. This is what initiates the endeavor and allows the entrepreneur to grow, either in response to the environment or because of a vision that is related to the entrepreneur. This is combined with creative thinking to lead to the initiative of the new idea and to find ways to construct the idea into a reality. The creative thinking is furthered by evaluating the business idea to define the probability of success as well as looking into solutions that will help to launch the business into a successful endeavor. The personality of the

Change in Conceptions of Core and Periphery States Essay

Change in Conceptions of Core and Periphery States - Essay Example This paper analyzes in depth and details the effects of new emerging states, with high rates of economic growth and growing political influence, and their role in altering the conceptions of core and periphery. The growth of the world in recent years can be described to be particularly exemplary with strides being made all across the core and periphery states. For some advanced ideologies it has been presumed that the periphery is the log of the international development spectrum, with more honor and recognition being accosted to the core. Politics is a whole different ball game as compared to economics. The main distinguishing factor that primarily stands out in our determination of supremacy is the length of time enjoyed in terms of independence and self-support. With these parameters in place it becomes quite easy to single out the most supreme purely on this virtue. The tear that exists between genders, principalities and states is as the main factor of consideration. A close analysis, reveals see the essence behind the ideology since it is by this reason that some world affairs occurred. Most notably is the colonial era, the first and Second World War and the recent economic resections that cut across the world Women were at a disadvantage with a lot of factors playing against them residually to the effect of creating a block and entanglement between them and the developing world. Such factors were that; women were easily victimized, lacked the power and ability of confrontation and lacked the platform to begin from.

Modules Work Coursework Example | Topics and Well Written Essays - 1500 words

Modules Work - Coursework Example Additionally, I would try to confirm the note with the customer including the balance due, interest rate, date of the note, date due and also the collateral pledged (Kinney, 2011). Basing on aging analysis and subsequent collection (WP 3.B) and discussion with the credit manager, an allowance of $600000 is reasonable and adequate (I examined correspondence and also discussed with the credit manager; explanation of audit legend) The late recording of the vouchers and early recording of the sales seems to be intentional earning inflation devices. This include vouchers 12458 and 12459 and sales invoices 33003, 33004, 33006, 33007, and 33009. Considering Biltrite’s internal controls relating to shipping and receiving, unintentional errors of this type and magnitude are not likely to appear (Kimmel, 2011). Suppose the auditor does suspect misrepresentation, consideration should be given to possible lowering of individual item materiality threshold. More so due to 3 million dollars check ‘kiting’ and misrepresentation of the Lawton related party loan in the previous module IX. 1. Lucas has satisfied some of the objectives of searching for unrecorded liabilities but not all. She has been able to determine whether additional invoices received and not un-vouchered are for charges pertaining to the year being audited. Additionally, she has determined whether the client included these charges in liabilities. This has been done by examining 2010 un-vouchered invoices and tracing 2009 charges contained therein to the client’s 12/2/09 Adjustment for unrecorded invoices. However, Lucas did

Define consumer benefit, market segment and market size of a theatre Case Study

Define consumer benefit, market segment and market size of a theatre (for a real ) - Case Study Example Consumer Benefit Consumers of a particular product seek to identify products that would benefit them and satisfy their needs through knowledge of product attributes, which include brand image, brand perceptions, brand personalities, and brand characteristics (Whaling and Michigan State University, 2007). Consumers are constantly seeking products that would satisfy their unlimited needs with the maximum outcome benefit they can get from the product. The outcomes however vary from satisfaction of needs to getting solutions to particular problems and reduction if not elimination of frustrations. The attributes of a product are meaningless to a consumer if the outcome benefit they are seeking cannot be achieved from purchase of the product. The outcome benefit that the consumers are seeking to benefit from usually carries the rational and emotional component. The purchaser may at times not be the end user of the product but still goes ahead to seek a product that will help him or her ach ieve price and solution benefit. Hopgood have regular customers such as the local council and other companies who hire rooms for meetings and training of their staff. The company representatives responsible for hiring focus on the outcome benefit to their end users rather than just hiring a room. Market segmentation is basically based on the product benefit, and customer characteristics relation. Customers with specific needs and characteristics seek to benefit from specific products that match their situations (Evans, O'Malley, Maurice, and Patterson, 2004, pg 179). The functional benefits that consumers of Hopgood theatre achieve from their products are measured in terms of time and place with which the product is available, the duration that the services last and the prices with which the products are purchased. The shows being offered by Hopgood may be repeated in other theatres in other countries and the prices are normally the same although Hopgood may charge slightly higher i n venues located in the cities as compared to regional venues. Purchasers of goods achieve higher degree benefit with lower prices as compared to products with slightly higher prices although the venue of the shows levels up the price factor. Shows of its own kind are desired by many consumers of Hopgood considering the fact that the shows may not be repeated elsewhere. A variety of shows offered are highly appreciated by Hopgood product purchasers who have the opportunity of choosing from a list all current shows with prices charged for each show that is available on their website. Psychological benefit is also an important outcome that customers of Hopgood seek for when purchasing a product. This benefit enables the purchaser to achieve a pleasant feeling of acquired value for money and self worth. Customers seek to purchase goods that will enable them achieve the highest level of psychological satisfaction to build their own self-esteem and boost value for the products. The outco me is the benefit of the products they use and consume to satisfy their needs. Market Segment Market segment focuses on particular customer characteristics that differentiate one group of customers from another group. Customer profile is the determining factor that differentiates market segments of Hopgood theatr

Act Utilitarianism Essay Example for Free

Act Utilitarianism Essay I believe torture is morally justifiable/permissible only with situations, in which you can guarantee the best possible outcome. In this particular situation with the bomber, I believe we should take the Utilitarian-Act Consequentialism approach; and torture the bomber as an attempt to get him to reveal the location. Simply because, Act Consequentialism will focus more on the overall happiness that it will bring to all those involved. Seeing as how they have apprehended the bomber, and interrogated him to no avail. It is the police commissioners only hope to confirm the publics’ faith in the system; which should clearly be capable in making decisions that are ugly but necessary, for securing the safety of others. I believe that Act Consequentialism allows for the attempt to torture both the bomber alongside his wife, if it leads to the discovery of the bomb. An excerpt in which describes my reasoning in the belief that Act Consequentialism will allows this notion is: Act Consequentialism holds that the good determines the right the only consideration relevant to the rightness of an act is the amount of goodness it produces. 1 (McNaughton and Piers Rawlings pg32) from David McNaughton and Piers Rawlings essay on Deontology. Versus the Kantian and Rule Consequentialism of utilitarianism which would believe that this is morally wrong, despite of the lives that could be saved. Rule Consequentialism and Deontology are very similar in their beliefs. For example, this was said in regards to Rule Consequentialism: In particular, rule consequentialism is likely to include constraints, options, and special obligations. There will, for example, be a fairly simple rule against killing the innocent, since the adoption of a more complicated rule that allowed killing in pursuit of the good would be hard to follow. 2 (McNaughton and Piers Rawlings pg34) An example written in regards to Kantianism, the foundation of Deontology states the idea: We are not morally bound by any alleged requirement unless it is backed by principles that we can recognize as what we ourselves, as a rational, self-governing persons, will for ourselves and others. 3 (Kantianism pg237) Showing that the Kantian and Rule Utilitarianism, uses the same filter in most situations to determine the best action. The main idea at the core is still a form of the Golden Rule, do onto others as you want done unto you. For who would make a moral law to torture humans? Therefore it is not morally permissible from a Kantian and Rule Utilitarian approach, because it is clearly immoral to torture people for any purpose. Therefore this belief will lead to the murdering of hundreds of innocent people. Thus leading to a very catastrophic situation; not only for those involved, but as well as the world. Do we remember the effects of terrorism in a free country? Not to mention the main medium affected in making this decision will be the police commissioner. Will he live in a perpetual state of what if if he doesnt act? Seeing as how he is the person who decides to make this call. This is the reason I feel the Act Consequentialism approach is necessary in this scenario. Just the sheer fact that these people are once again, innocent and have done no crime; therefore should not have to suffer because of the bomber decisions or point he may be proving. The Act Consequentialist may take into account, the overall possibility to effect more than just the hundred people, but the effect it would have on the rest of the world (the universal outcome). Meaning we have to understand the consequences that this will have not only on the victims but also the rest of the world who witnesses these acts. This to me would morally be the right thing to do regardless of the Kantian approach. Simply because, this outcome may be more beneficial to people, thus promoting happiness and safety to more people. Although my solution will still give us fear in the name of terrorism; it will however instill the belief in the protection police provide, not to mention their ability to make great choices, thus leading to a stronger and safer country. We can see an example of this in our own society daily. For example, you have some military soldiers who have killed many people in the sake of good, yet feel no guilt. Possibly because they are reminded of the overall benefit they provided to our nation, as well as the safety that they have provided; which may not have been possible, if they enacted upon that situation differently. So this is the main reason why I believe torture would be morally justifiable in this situation to torture the bomber as well as the wife; in a desperate attempt to save innocent people. Clearly because it could lead to the safety of more people and the security of a nation, in which we are all tied in together. This still can be seen as a good outcome because of the attempts taken. Or better yet assuming that this decision will actually work in the discovery of the bombs saving the people would still be a good outcome. However I can truly understand that the unpredictability of the situations outcome, is yet another motivation that would encourage a Kantian or Rule Consequentialist to stand its moral ground; however, differing from my own ideas of this situation. Feeling, that something needs to be done, instead of watching such an injustice.

Branches of Philosophy Essay Example for Free

Branches of Philosophy Essay Metaphysics is a traditional branch of philosophy concerned with explaining the fundamental nature of being and the world, although the term is not easily defined. Traditionally, metaphysics attempts to answer two basic questions in the broadest possible terms: What is there? What is it like? A person who studies metaphysics is called a metaphysicist or a metaphysician. The metaphysician attempts to clarify the fundamental notions by which people understand the world, e. g. , existence, objects and their properties, space and time, cause and effect, and possibility. A central branch of metaphysics is ontology, the investigation into the basic categories of being and how they relate to each other. Another central branch of metaphysics is cosmology, the study of the totality of all phenomena within the universe. Prior to the modern history of science, scientific questions were addressed as a part of metaphysics known as natural philosophy. Originally, the term science (Latin scientia) simply meant knowledge. The scientific method, however, transformed natural philosophy into an empirical activity deriving from experiment unlike the rest of philosophy. By the end of the 18th century, it had begun to be called science to distinguish it from philosophy. Thereafter, metaphysics denoted philosophical enquiry of a non-empirical character into the nature of existence. [6] Some philosophers of science, such as the neo-positivists, say that natural science rejects the study of metaphysics, while other philosophers of science strongly disagree. areas of philosophy, and most other philosophical schools turn back to it for basic definition. In that respect, the term metaphysics is a broad one, encompassing the philosophical ideas of cosmology and ontology. Metaphysics or First Philosophy The term â€Å"metaphysics† comes from Greek, meaning â€Å"after the Physics†. Although the term metaphysics generally makes sense in the way that it partially refers to things outisde of and beyond the natural sciences, this is not the origin of the term (as opposted to, say, meta-ethics, which refers to the nature of ethics itself). Instead, the term was used by later editors of Aristotle. Aristotle had written several books on matter and physics, and followed those volumes with work on ontology, and other broad subjects. These editors referred to them as â€Å"the books that came after the books on physics† or â€Å"metaphysics†. Aristotle himself refers to metaphysics as â€Å"first philosophy†. This term was also used by some later philosophers, such as Descartes, whose primary work on the subject of metaphysics is called Meditations on First Philosophy. * Branches of Metaphysics The main branches of metaphysics are: Ontology Cosmology Epistemology Epistemology is the area of philosophy that is concerned with knowledge. The main concerns of epistemology are the definition of knowledge, the sources of knowledge (innate ideas, experience, etc. , the process of acquiring knowledge and the limits of knowledge. Epistemology considers that knowledge can be obtained through experience and/or reason. It is the branch of philosophy concerned with the nature and scope of knowledge and is also referred to as theory of knowledge. It questions what knowledge is and how it can be acquired, and the extent to which any given subject or entity can be known. Much of the debate in this field has focused on analyzing the nature of knowledge and how it relates to connected notions such as truth, belief, and justification. * Defining Knowledge A primary concern of epistemology is the very definition of knowledge itself. The traditional definition, since Plato, is that knowledge is justified true belief, but recent evaluations of the concept have shown supposed counterexamples to this definition. In order to fully explore the nature of knowledge and how we come to know things, the various conceptions of what knowledge is must first be understood. * Sources of Knowledge The sources of knowledge must also be considered. Perception, reason, memory, testimony, introspection and innate ideas are all supposed sources of knowledge. Are they equally reliable? * Scepticism There also seems to be reason to doubt each of these sources of knowledge. Could it be that all knowledge is fallible? If that is the case, do we really know anything? This is the central question to the problem of scepticism. Logic Logic has two meanings: first, it describes the use of valid reasoning where it is used in most intellectual activities, including philosophy and science, or, second, it describes the study of modes of reasoning (those which are valid, and those which are fallacious). It is primarily studied in he disciplines of philosophy, mathematics, semantics, and computer science. It examines general forms that arguments may take. In mathematics, it is the study of valid inferences within some formal language. Logic is also studied in argumentation theory. Logic was studied in several ancient civilizations, including India, China, Persia and Greece. In the West, logic was established as a formal discipline by Aristotle, who gav e it a fundamental place in philosophy. The study of logic was part of the classical trivium, which also included grammar and rhetoric. In the East, logic was developed by Buddhists and Jainists. Logic is often divided into three parts, inductive reasoning, abductive reasoning, and deductive reasoning. Aesthetics Aesthetics (also spelled ? sthetics) is a branch of philosophy dealing with the nature of art, beauty, and taste, with the creation and appreciation of beauty. It is more scientifically defined as the study of sensory or sensori-emotional values, sometimes called judgments of sentiment and taste. More broadly, scholars in the field define aesthetics as critical reflection on art, culture and nature. More specific aesthetic theory, often with practical implications, relating to a particular branch of the arts is divided into areas of aesthetics such as art theory, literary theory, film theory and music theory. â€Å"Beauty is in the eye of the beholder† There are two basic standings on the nature of beauty: objective and subjective judgement. Subjective judgement of beauty suggests that beauty is not t he same to everyone — that which aesthetically pleases the observer is beautiful (to the observer). Alternatively, those partial to the objective description of beauty try to measaure it. They suggest that certain properties of an object create an inherent beauty — such as symmetry and balance. Both Plato and Aristotle supported the objective judgement. Some, such as Immanuel Kant, took a middle path, holding that beauty is of a subjective nature, but there are qualities of beauty which have universal validity. * Classical and Modern Aesthetics The classical concepts behind aesthetics saw beauty in nature, and that art should mimic those qualities found in nature. Aristotles Poetics describes this idea, which he develops from Platos teachings. Modern aesthetic ideas, including those of Kant, stress the creative and symbolic side of art — that nature does not always have to guide art for it to be beautiful. Ethics Ethics, also known as moral philosophy, is a branch of philosophy that involves systematizing, defending and recommending concepts of right and wrong conduct. The term comes from the Greek word ethos, which means character. Ethics is a complement to Aesthetics in the philosophy field of Axiology. In philosophy, ethics studies the moral behavior in humans and how one should act. Ethics may be divided into four major areas of study: Meta-ethics, about the theoretical meaning and reference of moral propositions and how their truth values (if any) may be determined; Normative ethics, about the practical means of determining a moral course of action; Applied ethics, about how moral outcomes can be achieved in specific situations; Descriptive ethics, also known as comparative ethics, is the study of peoples beliefs about morality; Ethics seeks to resolve questions dealing with human morality—concepts such as good and evil, right and wrong, virtue and vice, justice and crime. Political philosophy Political philosophy is the study of such topics as politics, liberty, justice, property, rights, law, and the enforcement of a legal code by authority: what they are, why (or even if) they are needed, what, if anything, makes a government legitimate, what rights and freedoms it should protect and why, what form it should take and why, what the law is, and what duties citizens owe to a legitimate government, if any, and when it may be legitimately overthrown, if ever. In a vernacular sense, the term political philosophy often refers to a general view, or specific ethic, political belief or attitude, about politics that does not necessarily belong to the technical discipline of philosophy. In short, political philosophy is the activity, as with all philosophy, whereby the conceptual apparatus behind such concepts as aforementioned are analyzed, in their history, intent, evolution and the like. Social philosophy Social philosophy is the philosophical study of questions about social behavior (typically, of humans). Social philosophy addresses a wide range of subjects, from individual meanings to legitimacy of laws, from the social contract to criteria for revolution, from the functions of everyday actions to the effects of science on culture, from changes in human demographics to the collective order of a wasps nest.

LEGO Company Analysis

LEGO Company Analysis This assignment study aims at providing a detailed and objective evaluation of LEGO Company in toys industry that generally target at children fewer than 14 not only in the Demark but also over the world. The research examines and analysis of the business environment and internal factors in which the company operates by PESTEL, SWOT, and 5 FORCES analysis. By these tools, we identify trends and future development of this industry combines with current strategic position and tactic of the firm to link to options. Then, it defines main problem, provide a summary of the key challenges facing the business bases on our analysis, which the company is coping with. They are both external and internal issues. And after that, we will put forward a great many ideas to improve the style of work in short term as well as long term plans. These strategies of reorganization are developed and evaluated, in which bring the company to be crowned with success in the future. This report is about identifying the issues facing the LEGO Company and suggesting some realistic strategic options for dealing with them. The report will help lecture and people know how we analyzing LEGO Company step by step thought both external and internal of the firm; and the solution that we deal with options of the firm. The report is our result of reading and researching in one month. We hope it gives you clearly view about our project. Method of our report: We used many methods in this research and all of them can be taken in the university and the lecturers lesson, which were quite popular. The most important thing that we used is analysis the market. It was very important to understand about business environment of the firm. Our tools include 5 FORCES, PESTEL, and SWOT. In addition, we used many books, journal articles and material from lectures Learning Resource of Bedfordshire University to gain more knowledge and theories of strategic management. Moreover, we also used some sources on the internet to find news about LEGO and information that relevant to case study. All of them will supply in reference part in this report. LEGO company: General information about LEGO group: The company LEGO is one of the most famous corporations in the world when it engages towards childrens toys and has developed since 1932. The LEGO Group is headquartered in Billund, Denmark and it was owned by Kirk Kristiansen family. And it focuses on a key element in growth, development of childrens creativity via playing and learning by assembling LEGO brick. Nowadays, the company provides their products in more than 130 countries with approximately 10,000 employees worldwide. In 1949, their brick has taken an adventure. Over the years, the LEGO brick became more perfect and then it was adjusted a little bit in shape, design and color. Todays brick has 2,400 different types and have multitude of ways to combine them together so it is not only attractive, creative and fun for children but also becoming a challenge for adults. Current trends: Over the last 70 years, LEGO have had an evolution process, keeping step with the markets demands and the consumers desires. The traditional toys are the constructions brick, creative building by unlocking LEGO brick which were developed in 1958. In 1977, gears, gearbox and many kinds of stuffs were added for children to develop vehicles or other complex machines. After this era, LEGO had a big jump on developing their toys by combining between classic toys with robot technology, so children can able make for themselves an intelligent LEGO model. And now, The LEGO groups core activities are innovation, development, and marketing and sell play materials. According to Annual report of LEGO group (2011), the sales of traditional toys in USA have a little bit decrease. In Southern Europe, market sales decrease sharply while Asia and the rest of Europe also have higher growth rates. Generally, many people prefer modern products to traditional products. So the sales of traditional toys decreased in 2011 in total. The latest product line of LEGO group is LEGO Ninjago. It is a combination of classic toys and so-called spinners were established at the beginning of 2011, beyond expectation s and become the biggest product in company history. Besides, other LEGO toys are also on the best-selling list such as: LEGO City, LEGO Star Wars and so son. In sum, It is a highly satisfactory result reflecting a solid growth in profit. Growth in the North American market continued undiminished, and also in most European and Asian markets we were able to report double digit increases in sales, (2011) says Jorgen Vig Knudstorp, LEGO Group CEO. External analysis: PEST analysis: (P)olitical: In order to enter the market easily and without any problems, Lego has to be awarded of the political situation and other issues related to the political sector. There will be many advantages if the political environment changes the rule that relate to the Lego Companys operations. (E)conomic: The Toy educational industry is developing and can be seen to be economically stable in the past few years. The economy is improving well so the LEGO also improve their products to gain the best for their customers. The business not only improves economic of the domestic market but also the external market in all over the world. For example, the US market has big opportunities to LEGO and other toy companies. (S)ocial: LEGO Company is trying to develop and launch the products to the market and make sure that the community and public will accept their products. The company also wants their services are in good relationship with many kind of customers in some factors of the society. (T)echnological: This is one important force in the Toy industry. In order to have new innovations and good product, LEGO Company also has and improving new technologies, also this is the way to compete with many other strong competitors in the market. LEGO Company makes sure they are updated to what happening in case to adjust the changes. (L)egal: In order not to lose the customers welfare and the company name, LEGO Company doesnt want to risk by breaking the laws in local or international markets. Then, all LEGO companies are making sure that they follow all the rules and laws of the market where their transactions are operating in. (E)nvironmental: Lego company is trying to make their products that they sell are proven to cause minimal problems to the environment. The company also introduced some strategies that aim to decline pollutants and create a good environment. The company also invested a huge amount of money in waste system to protect the environment near companys factories. SWOT analysis: ( Opportunity and Threat): (O)pportunities: Many new types of materials and factors such as: movies and films play an important role to improve Lego toys. For example: Toys can base on famous movies in the world such as Star War, the Avengers, Spiderman and so on. LEGO main markets are Europe and USA, however the company has chance to open in many new market all over the world, for example Asia, South America and also some countries in Africa. (T)hreats: Nowadays, modern technologies are improving and developing very fast, some children are likely prefer watching TVs or playing computer games with colorful and imaginative scene rather than play traditional toys like LEGO bricks. The substitutes of modern technologies in toy industries are very strong and will affect the company business. Some countries are very poor, and then almost people cannot handle and will not spend too much money to buy a toy. For example: some countries in Africa 5 FORCES analysis: Threat of new entrants: + Strong and large distribution network required. If the company does not have a strong distribution networks enough, they will have to pay a lot of money to transport and move their product around, and in some cases their product will not get to the end customers or the stores. + High Capital: In order to enter the market, there are the requirements for substantial high level of investment. LEGO The Company has to spend a lot of money in order to compete when they come to the market in the first time. + The Brand name of the LEGO Company is very important, this is one way to compete when the company is entering the market, then other competitors in the market will also have to improve the brand value in order to compete effectively. + Advanced technologies: This is one of the barriers that bring many difficulties to new entrants and competitors when they come into the market. All technologies have to be developed, and then the company will have opportunities to compete with others in the market. + Geographic factor: Existing competitors already have good place and location to allocate their factory and stores within the market. This is really a challenge for new comers and entrants, they will have a competitive disadvantage and they will have to compete with each other to have a really good place to have their store, department or factory in order to run the business and compete. Threat of substitutes: + The pressures will very high, Substitutes come from the entire toy industry. Substitutes are everything, such as computer games or traditional toys, even outdoors sports. Children will get bored very fast, so they switch to substitute. + A lower quality product will be the reason why customers dont like to switch from LEGO to another product. Level of rivalry: + LEGO Company occupies a strong position in the large Toy industries with a few rivals. The company has a strong brand loyalty and brand name among customers; the company also provides high quality of product and charges it in premium price. Lego also has advantages with parents because parents will allow their children play with traditional toy instead of spend their childrens playtime with video games or watching TVs. Power of buyers: + The pressure of the customers is very high, with switching cost between alternative traditional toys and other substitutes such as computer games or TVs. + The Toy products will be very important to customers, if it is in good quality and acceptable price such as LEGO toys, the customer will be loyal to the company and willing to spend money. Power of suppliers: + Most of the LEGO products are making from plastic, then there will be a diverse distribution, the company will not have to base on one supplier. http://www.oxbridgewriters.com/essays/estate-management/lego-strategic-analysis.php Internal analysis: Lego have a quite large in toy market share in this industry. For example, in UK, it made up 6.2 per cent (2001) and making its the third largest toy organization in Britain. The company has enough strength to continue increase sale revenue in next period. Organization of LEGO has a long history and many different kinds of toy. Moreover, LEGO toys are suitable with children and bring education meaning. In addition, the business have good website which are colorful, clearly, attractive, and helpful for customers when they have arrived. LEGO products are always new and popular material offers to improve their toys. Especially, the company is often focus on famous characters or superheroes in films and comic books such as Star War, Spider man, Pirate of the Caribbean, ninja, or Sorted activity programs by ages. This strategic becoming very successful to target children, it makes their products is more attractive with their customers. However, LEGO was focus on children, but they realized adults had created their big users who spent more money on their product than children. In fact, the price of LEGO is not cheap, therefore they need the satisfied of presents who pay money for their child toys. Then, they started connecting them; improve the relative with them and becoming successful by this plan. Following Jake McKee (formally  Legos Global Community Relations Specialist) said about strong social media strategy what made the high successful of LEGO Company nowadays. He suggests three incredibly simple points in this strategy: Look beyond your target customers Support existing fans Find what works and replicate LEGOs strategic is trying to open their market in all over the work. The company wants to more increase number of sale in the United States because they realize there are potential growth opportunities in this market. In addition, Eastern Europe and Asia are also two places where the market growing very rapidly; so LEGO want to make more revenue from here. Moreover, LEGO organization is want to open and expand more activities that direct to customer kids and their presents, to help more close and understand what their litter customers want. They realize the important of understanding customers because their target customers are children with variable ages, who easy to attractive and persuade; but also easy to change their mind when they see other toys that new, beautiful or maybe colorful than their own toys. On the other hand, LEGO are improving online strategy. They built new website with attractive design, colorful for children; developing online stores, and online activities, for example children online games. Company is  facing: LEGO Faces Increasing Competition Although of the LEGO Companys successes, analysts realized that the companys environment would change, and in the past 15 years it has some challenges due to: Increasing of the Digital World: growth in electronic games, digital toys and much software make competition harder Faster Child Development: Nowadays children grow up faster, it make the global market for construction toys is restricted because of their changing play patterns. Fashion Trends in the Toy Industry: fashions of toys go out and in more rapidly and sometime a few products can make or break annual turnover of the company. Dependence on Famous Global Mega-Brands: In response to fashion trends, toy manufacturers design offerings based on a concept or story (e.g., Star Wars) and several companies offer all toys related to the similar concept (Harry Potter, Spiderman). Downturns in countrys economies can lead to a reduction in sales of LEGO products. The reaction of Lego Company to these changes is combining innovation with market adaptation. They released new digital toys (e.g., LEGO MINDSTORMSà ¢Ã¢â‚¬Å¾Ã‚ ¢, LEGO SPYBOTICSà ¢Ã¢â‚¬Å¾Ã‚ ¢). It created virtual communities to support users and cross-sell to them. They divide their business into each unit, including LEGO Interactive (computer-based play materials) and LEGO Direct (catalogue sales). They concentrated expanded into life-style products, opened new theme parks (in the U.S., UK, and Germany), and cooperated with other famous global brands such as Lucas Films, Disney, Microsoft, and Warner Brothers to develop new product concepts. Compare and contrast with main competitor : Using Porters strategies framework, we can see that Mega Bloks is a cost leader because they have increased profits through reducing cost by using different quality of materials to make their products, while Lego uses a much higher quality resources to make toys, This act is a reason why Lego cost of products much higher than Mega Bloks, It lead to Mega Bloks gains more market share and take many profits. By researching, Mega Bloks had found new segmentation, which now is number one seller in the preschool market. In the past, products of Lego are focused on narrow scope because the target customer mainly from 7 to 12 years old. By changing, now Lego more focuses on differentiation on a broad scope by targeting more than one market. Lego needs to concentrate in long term innovative products, this way still take its competitive advantage in the market as being the creator of toys that help develop new skills and learning. Like the first edition, Lego bricks make children more creative thinking and imagination. It was critical for the management team to identify where to expand Legos product channels and business operations, in order to develop a competitive strategy to continue the organizations financial success and dominance in the building toy market in the future Solutions: After face with many problems in market, we think Lego should have clear strategy: Strategy with social communication online: Having a strong community is very important for Lego company so Lego company should research more initiatives, both offline and online, to increase react with children and their parent. Children like Lego toys however their parent are person who will pay for all of this. While children can pay $70 a years for Lego, adults may spend more than $900 per years. So how to persuade and make them reliable our product also a task for Lego. Use an online database for parents where they can react with other family and its make a community of parents who appreciate the value of creative, endless ideas, or how to learning fun and effective. In there (web, forum, site) Lego can provide information, knowledge how to develop childrens creative, imagine through their game by professors and analyst. Passionate parents may be provided much useful content or lesson from this and it make Lego become regular topic in family. Strategy with investment and capital: To make different with another competitors and reliable for customer also demonstrate Legos reputation, Lego can open restaurant with the main theme is Lego world. In some countries, there are few opportunities for kids and their parent approach Lego game, so restaurant can be the way to introduce products also make more profits from other services, not only from sale toys. Restaurant provides new trend, innovation point for customers. Brands value, creative are sent to potential customer by a chain of systems connect with restaurants unique such as new concept theme, dining area, kids play area , rooms with decoration are toys style, small museum à ¢Ã¢â€š ¬Ã‚ ¦All of those are new experience for customers who are fans or not. To attractive more attention and reduce competitive, Lego can use cuckoo strategy. The strategy of the cuckoo allows developing its business by pressing it on that of an iconic leader. Many company used this strategy before. Lego should corporate with famous brands in game industry like Nintendo, EA to expand range of customer and market share and may be Lego can receive capital from this industry to also introduce their products in Legos markets. Invest more in line of products. Always change style, concept to suitable with customer in each country. Find cheaper material to produce and avoid bad effect to environment. Research how to combine new technology and toys. Conclusion: In conclusion, the purpose of this report is showing and identifying problems and issues that LEGO Company is facing and recommending some strategic options in order to solve the problems and issues. Throughout this report, lecturers will see how we analyzing LEGO company by using many methods to research both internal and external environment of the company. It is very important to understand deeply about the market and its environments that the company is operating in. Tools and methods we used to analyze are FIVE FORCES of Porter, PEST and SWOT. We also learnt more about how to research and find out problem or difficulties that company have to face. Then research more about strategic of this industry to help the solve the problems and improve the business. Besides, we also used many references from articles, journals and materials from Learning Resource of Bedfordshire University to achieve more knowledge of Strategic Management. In addition, we also took some resources and materi als on the Internet to have some more news around LEGO company and their operations all over the world, all of those information will be related and support our report. Executive Summary: Lego is one of the famous toys company with many years of history in the world. Over the last 70 years, LEGO have had an evolution process, keeping step with the markets demands and the consumers desires. The traditional toys are the constructions brick, creative building by unlocking LEGO brick which were developed in 1958. Based on research we can summary some analysis point below: Lego Company need strong and large distribution network required to reduce a lot of money need to pay, beside that high capital and brand name of Lego also important to competitive in the market, advanced technologies and geographic factor are 2 keys element to successful in global market The pressure will very high in threat of substitutes because of a lower quality product are increased very much. In addition development of many toys company, this act makes market more complex. However, Level of rivalry of Lego very high. Company occupies a strong position in the large Toy industries with strong brand loyalty and brand name among customers. Most of the LEGO products are making from plastic, then there will be a diverse distribution, the company will not have to base on one supplier. Beside that many new types of materials are produce; this make Lego has more choices to reduce cost of productivity. Nowadays, modern technologies are improving and developing very fast, some children are likely prefer watching TVs or playing computer games with colorful and imaginative scene rather than play traditional toys like LEGO bricks. Another threat is some countries are very poor, and then almost people cannot handle and will not spend too much money to buy a toy. We also have some challenges for Lego such as: Increasing of the Digital World Faster Child Development Fashion Trends in the Toy Industry Dependence on Famous Global Mega-Brands Downturns in countrys economies can lead to a reduction in sales of LEGO products. Strong competitor like Mega Bloks So how to deal with this problem, we have strategies for LEGO Company: Strategy with social communication online : Having a strong community is very important for Lego company so Lego company should research more initiatives, both offline and online, to increase react with children and their parent. Use an online database for parents where they can react with other family and its make a community of parents who appreciate the value of creative, endless ideas, or how to learning fun and effective. Strategy with investment and capital : To make different with another competitors and reliable for customer also demonstrate Legos reputation, Lego can open restaurant with the main theme is Lego world. Invest more in line of products. Always change style, concept to suitable with customer in each country. Find cheaper material to produce and avoid bad effect to environment. Research how to combine new technology and toys. To attractive more attention and reduce competitive, Lego can use cuckoo strategy. The strategy of the cuckoo allows developing its business by pressing it on that of an iconic leader

Expectations :: Personal Narrative, Autobiographical Essay

Expectations People often do things they don’t necessarily mean to do. The young Langston Hughes once stood up and pretended to have seen and been touched by Jesus. He did this not because he really saw Jesus, but because others expected it of him. Although others rejoiced on his behalf, he was ashamed for having lied to them. Similarly, I myself have undergone an experience in which I acted in a way that was foreign to my nature. At the age of eight, I was living in the Philippines. In my little town of Ilocos Norte, there was a man who was mentally retarded. To me, he was this towering giant who could easily squash little kids like a bug. People mostly stayed away from him, especially children. In fact, just the sight of him struck terror in their little hearts. As for me, I mostly avoided him. However, there were some teenage kids who made it their job to make his life miserable. For instance, whenever they saw him, they laughed and pointed at him, as well as taunting and calling him names. Nevertheless, he never talked back or yelled at them. I used to wonder why he never defended himself. After all, he could easily scare them away with a growl or a mean expression. One day, I passed by him on my way to the store. He was sitting on a chair all by himself wearing the saddest expression on his face. A part of me was tempted to go over to him and cheer him up. The other part, however, was wary and cautious of a stranger. All too soon, his tormentors showed up. Two of the boys went behind him and pushed his chair. Toppling clumsily to the ground, he looked awkward and funny. The teens all started laughing hysterically even though I found nothing remotely humorous about the situation. Nevertheless, when the boys looked at me, I started to laugh as well, pretending to have enjoyed their little joke. However, my laughter died the second I looked into the man’s eyes. Seeing his eyes shining with tears and hurt, I was horrified at my behavior. I was ashamed that not only had I laughed at him, but that I had done nothing to help him while he was being taunted and tormented. This memory and its moral lesson have stayed with me ever since. My only excuse for my shameful behavior was that I was young and easily influenced by the

Freedom and Independence for Women in the 1950s Essay -- Exploratory

Freedom and Independence for Women in the 1950's Having invested 27 million dollars and eleven years of research, Du Pont de Nemours Inc. roused world-wide interest when the company displayed the first ever nylon stockings in the New York World Fair in 1938. Nylon apparel, including women's lingerie and foundation garments, soon appeared on the American market in wide varieties. Unfortunately, the quantities were limited. Women paid deathly high pre-war prices to obtain a pair of these famous nylons; they quickly became a symbol of status and wealth (Ewing, 111). Its heyday, however, was brief, for in February 1942, America's nylon literally went to war with the soldiers, and nylon stockings temporarily became extinct. Post-war attitudes toward nylons and other underwear drastically differed from those of the pre-war. This 1952 Du Pont Nylon ad coincides with this change. The advertisement indicates not only the remaining post-war patriotic sentiments, but also the progress women made since the 1930's in obtaining more freedom, ind ependence, and simplified lifestyle. The 1950's encompassed a spirit that rallied around the American cause. It was fashionable to be patriotic, and Du Pont utilized manipulation of color to suggest that wearing Du Pont nylons is indeed patriotic. No other colors exist than red, white, and blue -- from the white boat to the blue high heels, patriotism is painted all over the ad. The two characters in the ad support the American cause by supporting the nylon company. Wouldn't you? This effective advertising technique guilted many women into buying Du Pont Nylons. Before the war, women stayed home to take care of the family, but the war forced many to go to work. Women finally tasted the sweet... ...s. The introduction of nylon and of the mass-production methods that were stimulated by the rising demand for what now became a machine-made article progressively led to simpler and more functional lifestyles (Ewing 1 1 7). This fabric could be rinsed out and drip-dried in an hour or two with no need of ironing. The woman in the ad has no time for laborious tasks that come along with complicated clothing: she has people to see, things to do, and new areas to conquer. As you women put on your favorite pair of fish net nylons, consider the changes the post-war women made to allow you that freedom and independence. Though women were suppressed in many ways during the 1950's, they were able to gain many rights which progressed women along the road towards the rights we enjoy today. Works Cited Ewing, Elizabeth. Underwear, a History. Theater Art Books, 1972.

For the Love of Art Essay -- Artist Paintings Essays

For the Love of Art What is art? Would music, paintings, movies, dance, and speech all be considered art? What type, style or quality is required for these to be deemed art? These are wonderful questions. Many have tried to define for themselves and others what the correct answers are. The questions are wonderful, because, I believe they have no correct answers. I find the questions enlightening because there is no right or wrong. This is freeing. If one can’t be proven right, then how can one be proven wrong? The picture of the Virgin Mary on a ham sandwich that sold on Ebay, it that art? I don’t think the price or medium should be a factor. Van Gogh sold not one painting in his life time, yet only the wealthiest people in the world today could afford his work that has sold for millions at auction. I believe Van Gogh to be a great artist, not Hormel. Could we say art is in the eye of the beholder? A four year old that â€Å"paints† abstracts has taken the art world by storm, an elephant that paints with his trunk, a computer generated interactive music machine, ok. The eye of the beholder. The prerequisite for art to be considered art is on the receiving side. I think it a human quality to admire or be affected by art. Like the tree that falls in the forest, is a painting art if nobody sees it? In an article written by Elaine Thornburgh and Jack Logan, they discuss the quality that all great art has, the ability to transcend time and place. I have my own feelings about what should be considered art, and it is just that, my feeling. Art moves, inspires, disgusts, disturbs or touches us in some way. It may change us, it may not. There is one thing that would discount what I consider art. If I am indi... ...nstruments, they all have an affect. Music has the ability to strike chords inside our soul. I hear Chopin I am physically altered. How does that happen? How can an organization of notes affect a human being in such a way? I am waiting for the study to come out. The one that explains exactly why these emotions are driven up from classical music and other artistic forms. The one that reduces my experience to synapses. The one that explains the tone quality and particular note arrangement in relation to brain waves and reaction times. The combination of strings and horns or color and line that trigger a specific reaction. I am waiting for the scientific study so I can seek it out and make sure that I don’t read any part of it. I like being moved, inspired, disgusted, disturbed and touched by art. I love the mystery of it all.. It makes me feel alive.

Criminal homicide Essay

Criminal homicide is the most severe form of homicide and is considered one of the most serious crimes in society. This kind of homicide consists of unlawful conduct and malicious intent on the part of the killer. Murder is one form of homicide and is the most serious type. The crime of murder itself may seem straight forward but the laws surrounding the crime are intricate and entail a precise set of circumstances to institute the components of the murder. Murder is defined as â€Å"the purposeful, knowing, or reckless unlawful killing of another human being.† It has two separate components: The suspect must have acted with the required specific intent to kill and the suspect’s behavior must have caused the death of another human being. Many states use different terms to define intent or mens rea. Pennsylvania uses the terms lying in wait, willful, deliberate or premeditated to institute the required specific intent (Wallace & Roberson, 2012). The second component entails a death as an outcome of the suspect’s acts or failure to act and any conduct will meet the requirements. There are also different degrees of murder including first-degree, second-degree and manslaughter. These different degrees of murder depend on the purpose behind the killing and the way the killing is committed. The specific definition of each degree depends on the state or country that the crime is committed in. First-degree murder is different from the other two types of murder because it is planned. Normally, first-degree murder is a criminal offense involving intent, homicides that are planned, or homicides that occur during the commission of another felony. The crime of first-degree murder needs the intent to kill, premeditation of that killing and deliberation of that killing. Some examples of first-degree murder are poisoning, bombing and assault with a deadly weapon. The penalty for committing first-degree murder is different depending on which state the crime is committed in but is most likely life imprisonment or even the death penalty. Defenses against first-degree murder include actual innocence, mistaken identity, justified homicide, self-defense, defense of others and insanity. Second-degree murder is a crime of passion or an unlawful killing where the intent to kill and the act of killing itself happen almost simultaneously (Schmalleger, 2012). For example, a person who commits a killing in a fit of rage or a person who is motivated to kill by receiving insults or physical abuse, are likely to be charged with second-degree  murder. But the act of killing must happen instantly after the fit of rage or insults because if time lapses between the two than it permits the chance for thought to occur which would turn into premeditation and therefore become first-degree murder. Defenses against second-degree murder include actual innocence, insanity, and self-defense. Third-degree murder or manslaughter is different from the other degrees because it refers to homicides that result from someone’s action that is unlawful or negligent. Other names for third-degree murder include negligent homicide, negligent manslaughter, or involuntary manslaughter. Manslaughter is a less serious crime than first or second degree murder because it involves carelessness and not purposeful killing. An example of manslaughter is a drunk driver who causes a fatal accident can be charged with vehicular manslaughter. Defenses against manslaughter include actual innocence, accidental killing and intoxication.

Health care Lecture Essay

Summary Dr. Curtis’ lecture was one of healthcare and how it relates to his profession, chiropractic medicine. He also hit on health in general and medications. Dr. Curtis started rather quite abruptly with his self helping theories as to what he does as a profession and also what other medical fields are doing to help him become rich, yet keep the healthcare level of the United States down to the lower levels it has been hovering at for years. This may be in direct contradiction to the fact that even though the United States only has three percent of the world’s population, it still consumes more than half of the drugs produced in the world. What does this tell the reader? Dr. Curtis explained that a lot of these drugs are not needed, and in fact have actually hurt the patients. As proof, he stated some startling facts from the American Journal of Medicine and the New England Journal of Medicine, perhaps the two top most medical specific journals in the world. Some of these facts included that one hundred and sox thousand people die every year from properly proscribed drugs. Per year, there are seven thousand medical errors resulting in someone dying. One point five million people have Introgenic diseases, or physician caused diseases. It is estimated that the United States as a whole is spending seventy seven billion dollars a year fixing these problems. These indeed are very troublesome statistics. Dr. Curtis also goes on to explain that the reason why the United States continues to spend excess amounts of money for drugs and procedures they do not need is because of mainly one thing, advertising. Billions of dollars are spent on advertising for drugs every year. Over one hundred and thirty  two dollars were spent last years on advertising alone. Often companies give kickbacks like trips or bonuses to doctors that proscribe a certain number prescriptions of a specific drug. This practice, which should be illegal, is what is known as Off Label Promoting. The United States populace continues to believe advertising of drugs. The advertisements don’t tell the truth most of the time. For example, twenty percent of antibiotic prescriptions are useless. What is bad is that when people take unneeded antibiotics, they raise their immunity to them, and they will not work next time, or people will have to up the dosage to get it to work. This is extremely bad for health reasons, considering that if patients were to mix two or more drugs, there is an eighty eight percent change of adverse side effects, even more illness and injury. The Food and Drug Administration Agency is not helping matters either. The practice of rushing promising drugs like Fen-Fen to the market without proper timed tests has added to the health problems of the United States. Dr. Curtis is not saying do not go to the doctor, he is just saying to make sure you are doing the correct thing, which included getting second opinions, and doing your own research on drugs and what they can and cannot really do. Sometimes Doctors can not be trusted because of the one hundred and sixty drugs labeled by the FDA as ‘do not use’, people still proscribe them. With only a selection of twenty three out of those one hundred and sixty drugs, there are still one hundred million prescriptions being filled. These are drugs known to do harm, and they are still being prescribed. One must be vigilant in his own healthcare is the message of the day. Reflections At first I didn’t even know what Dr. Curtis was a doctor in, however due to time constraints I understand that the normal introduction and background speech has to be cut. I have listened to many doctors speak and lecture, not nearly enough as professors and other professionals of course, but enough to know that normally there is at least five minutes of talking about oneself before the actual lecture begins. Also, he being young did not add to me actually listening to his opinions that well. However, Dr. Curtis did not  give many opinions and his statements were backed up quite well and documented quite nicely as well. He obviously put in the needed time to prepare the lecture. Time constraints not only cut up his lecture, but also his speech pattern as well. Normally lectures should be flowing, his statements were extremely choppy. He states many things that were actually surprising to me. Not the fact of advertising, I already knew that, but I didn’t realize the actual statistics of these healthcare problems, and that a lot were caused by those in the healthcare field. His explanations as to how his field fitted into his lecture were actually quite easy to understand. The fact that stress messes up your nervous system, which in turns messes up the rest of you, is basically what he was saying without stating his words verbatim. He explains that even though the United States is third best in the world in what we eat, we still have one of the lowest life expectancies. I enjoyed his explanation as to how posture really controls a lot of health problems. He explains that proper diet, mental attitude, exercise, a non-stressed nervous system, and plenty of rest and relaxation are the keys to keeping the body as self healing as it is designed to do. Overall I enjoyed the lecture and learned quite a lot out of it.