MICROECONOMICS presentation Essay Example | Topics and Well Written Essays - 750 words

MICROECONOMICS presentation - Essay Example Barriers to Entry. The airline industry operates in a highly dynamic environment and is affected not only by the legal, technological and economic environment but also by the global environment. Government restrictions and high degree of competition act as entry barriers in the airline industry. However the biggest entry barrier is the gargantuan cost involved in setting up and running the business. The acquisition of aircrafts, implementation of adequate security measures, deployment of skilled manpower and rendering the desired level of customer service entail huge financial resources. The high cost of entry however does not deter organizations with sound business models and adequate financial resources to enter the business. The Australian domestic airline industry, after its deregulation in 1990, has seen the entry of many players each catering to different customer segments. There have been firms that have flourished (Virgin Australian Airlines) and there have been firms that ha ve perished (Ansett Australia). Competitive strategies. In addition to the general business environment, companies are also affected by the competitive strategies adopted by rival firms. ... An example of the differentiation could be an airline (Qantas) which provides ‘bells and whistles’ in its service and charges a high price. Likewise, there could be another airline (Tiger Airways) with a ‘no frills’ service. It is important to note here that these two airlines are targeting distinct customer segments. As such, the high price charged by the airline offering value added services (e.g. in-flight entertainment, free wine) in addition to the core service of transportation does not induce the other airline, which offers ‘trimmed down’ services, to increase the price. Game Theory. There may be instances where more than one firm is competing for the same target market; for e.g. two airlines (Jetstar and Tiger Airways) trying to capture the price-sensitive customer. The competitive strategies employed by one firm and reactions thereof by the other firm are best understood with the help of the game theory. In the world of business game th eory finds applications in research and development expenditure, pricing, new product introduction, strikes, negotiations etc. A manager’s decision in each of these settings depends on the decisions that other players in the industry will take. As such, the payoffs in these setting can said to be interdependent. In the discussion about the airline industry, one may fathom three different outcomes; co-operative game, non co-operative game and a situation of no interdependence. The airline may get together and form a cartel (cooperative game) and operate as if they were a monopoly. In such a case the dominant strategy of each firm would be high price and neither would be compelled to reduce the price because of the implicit co-operation. This is the most logical game when the industry

Opposition Against Macbeth Essay Example for Free

Opposition Against Macbeth Essay Finally the three witches who built up Macbeth is also opposing him with a new prediction which would lead to his downfall. (3. 5 29-31) In Act three we are introduced to Macbeths deception and paranoia as he begins to suffer horrifying images of his murdered victims appear amongst him. Macbeths greatest opposition as he quickly destroys his status among others is Banqou his closest friend . Banqous suspicion towards Macbeth grows deeper ,yet it’s his persistence towards his prophesies that forces him into silencing the topic of his beliefs and knowledge for his own ambitions. Banqou awaited for his prophesies to suffice his wants yet as the time grew Macbeth grew in power with dark intentions. AS time quickly slipped through Banqous hand Macbeth noticed the threat the Banqou held against him. (Act3-2)(40-61)Macbeth began to experience paranoia and Banqous suspicion fueled that paranoia. With the witches misleading statements towards Banqous life and rise to glory, Macbeth was convinced there was a defective statement that may lead to his death through Banqous request. With fear and hatred circling his mind, Macbeth convinced two attendants to murder Banqou. (Act3-3)(12-33)As the two murders go off and commit their crime, Macbeth hints to his wife of great plans and that’s a sign of glory and confidence filling his soul. Macbeth had experienced a lack of sleep and a lack of apatite as he sat at his thrown while Banqou and others revolved around him with great suspicion leaving an emotional and mental scar. Act3-4)(49-101)After Banqous death, Macbeth grew great confidence yet it was the idea of murdering his friend haunted him daily and knowing Fleance escaped grew more fear within his soul. (Act3-5) The second opposition which played a large role from the beginning was the witches and Hecate. Macbeth finally reached his goal and accomplished his prophesy yet it was his greed that made him want more power and knowledge of future occurrences ,Knowing this Hecate Decided to convince Macbeth of more glory awaits him and raise his confidence to a higher level which will finally destroy him and lead him to his great down fall. Hecate knew Macbeth’s rain among Scotland and those close to him had to reach its limit and allowing him to continue would lead them to their death. In order to avoid the conflict and remove Macbeth from his power swiftly, Hecate and the other witches decided to allow Macbeth collapse on himself through gentle statements they created. Macbeth’s insecurity and fear leads him to gain enemies and demons which over take his mind. Act3-6)The final great opposition that slowly forms against Macbeth was Lennox and the other lords. Lennox and the other lords begin to discuss Macbeth’s actions among his territorial rule. The lords begin to discuss all the crimes they are sure Macbeth had committed. Macbeth begins to create a defence for himself as he find out his enemies alliance grows rapidly. Macbeth leads himself into the lowes t of situations as he slowly begins to murder others . His suspicion and terror haunts his every move and his enemies grow with his every day at his position.

Social Responsibility Essay Example for Free

Social Responsibility Essay A community consists of organizations and citizens that are all tied to one certain area. What makes a community successful and effective is when both the companies and citizens work together with the same values and interests. When both organizations within a community and its citizens work together, it is a win-win situation. It makes for a better place to run an organization and a better place for its citizens to live in. Successful companies and organizations are now focusing on things other than making a profit. These companies are looking into how to make the community they serve a better place and to build a better relationship with its community which in turn, will help them operate more effectively (Investopedia, n.d.). Company Q is having a little trouble with containing a positive social responsibility with the community it serves in. Bing in a major metropolitan area, Company Q has had to close two because they were always reporting a loss. These two stores were unfortunately, located in areas where the crime-rates were higher. Company Q does not have a positive outlook on the social responsibility to its community because of the lack of trust that the management in Company Q has with their employees. Local food banks have asked Company Q to donate day-old food but Company Q has declined thinking that the company will lose money because management thinks that its employees will steal the food claiming that they are donating. The company feels that if its employees do any of this fraud or stealing, the company will lose money. One action that Company Q can take to improve its social responsibility is to increase security levels. Company Q does not have any trust in their employees so they can start by adding video surveillance to make sure that their employees are not stealing or doing any kind of fraud with the food they could be donating to the local food bank. Another type of security  measure can be to hire some sort of security or loss prevention to the stores. This kind of measure can help with keeping any stealing from both their employees and customers. Increasing the type of security can even help with keeping those stores that they had closed down in the high crime rate areas. If criminals know that there are some sort of security measures within the stores, it decreases the chances of stealing which in turn, will hopefully keep Company Q from losing money. Another action that Company Q can do is to try and find cheaper ways of finding health-conscience and organic products. This will help with decreasing the amount of products that are left unsold. They can try and find any local producers and maybe come up with a deal to buy products in bulk for a lesser price. This will help with decreasing the sales price on the items so that hopefully more customers will want to purchase more of these items. Being in a metropolitan area, the citizens in the community are very limited to the stores they can shop at since space is very limited in downtown areas. Company Q could benefit with lowering their prices on high quality, health-conscience and organic products because it would draw more customers into their stores if they were more affordable. A final action that Company Q can do is to provide some training to their management and employees. One type of training can be about ethics and the company’s code of conduct. Ethics and the company’s code of conduct training can help the employees know from right and wrong. It will help the employees understand what is expected of them as an employee. Another type of training can be employee training and activities that will help with the morale within the company. They can do activities that will help build teamwork and happiness with working in the company. These kind of activities can help promote job satisfaction. The kind of morale that would build from these activities can make the employees enjoy where they work and who they work with. Job satisfaction will make an employee want to do the right thing because they enjoy where they work. References Social Responsibility Definition | Investopedia. Investopedia. N.p., n.d. Web. 6 Oct. 2014. .

Financial regulatory framework

Financial regulatory framework Regulatory framework for financial reporting The financial regulatory framework in the UK went through significant reforms in 1990-91 and has remained stable for ten years thereafter. Changes are being proposed to the regulatory framework arising out of three major reasons (a) the move by the European Commission towards developing a single capital market (b) the Enron scandal which has stimulated political interest in the regulation of accounting and (c) changes in UKs domestic laws and regulation (Fearnley and Hines, 2003). There have been several changes in the international arena that have also necessitated changes in the financial regulatory framework. Due to globalization, many UK companies are now acquiring subsidiary companies in other countries, which function under different financial parameters and there may be a need to modify the existing regulatory and financial frameworks (Haller and Walton, 2003). When different financial accounting standards exist in different countries, it may be necessary to harmonize them and this can only be achieved through modification of the financial regulatory networks. In this context, a report published by the Institute of chartered accountants in Scotland offers the view that the current position in the context of globalization is such that there is an â€Å"ever increasing volume of accounting rules†, which is not sustainable in the long run (ICAS, 2006:2). Its only principles based accounting is likely to be beneficial Domestic law and regulation has changed in different ways. First, the London Stock exchange was once self regulatory but it is no longer the Listing authority within the U.K. The UKLA (UK Listing Authority) which is a part of the Financial Services Authority (FSA) is now the responsible authority for this purpose. Second, professional bodies which are a part of the UK Accountancy profession, have set up their own private regulatory framework the Accountancy Foundation to provide independent oversight of their auditing standards, ethical standards and regulatory activities, including disciplinary procedures. New regulations have also been issued in respect of limiting the remuneration paid to directors and the Companies Act has also been modified (Fearnley and Hines, 2003). These changes in the domestic law mean that the framework which existed earlier and was largely self-regulatory may no longer be adequate. Bullen and Crook (2005) have explained why a conceptual framework is needed. Both the FSAB and IASB, share a common goal of ensuring that their standards are â€Å"principles based†, which requires that such standards must not be a mere collection of conventions but must be rooted in fundamental concepts. For instance, when the FASB members first attempted to set up a regulatory framework, they experienced considerable difficulty in attaining agreement on standards, which led them to work towards the development of a conceptual framework. If such standards are to produce a coherent financial reporting system, they must be compiled in such a way that they constitute a framework that is sound and consistent internally. Bullen and Crook (2005) have also pointed out differences in concepts and conventions through assets, wherein the concept of a piece of equipment as an asset is based upon viewing it as a source of economic benefits for the future, while the straight line depreci ation of that asset would be viewed as a convention. According to Bullen and Crook (2005), a consistent regulatory accounting framework is required to converge different aspects of expressing the same concepts. The development of an accurate and well developed regulatory framework is essential to prevent accounting fraud and deception such as the financial scandal that erupted at Enron. Secondly, it also provides advantages for investors, such as the ISAB framework for example, which Ball (2005:9) has spelt out as follows: (a) a more efficient valuation in equity markets (b) reduced costs to process financial information because GAAP adjustments are not required (c) reduced costs for being informed in a timely manner and (d) ability to create standardized financial databases. If these standards are implemented consistently, then it provides better comparability and therefore ensures that there is less risk for investors. Thirdly, it enables certain objectives of financial reporting to be met, such as (a) usefulness in making economic decisions (b) useful in assessing cash flow prospects and (c) providing information about enterprise resources, the claims of these resources and the changes that are required. Using ISAB Standards: The existing ISAB framework is similar to the FSAB framework in terms of its structural components, i.e., setting out the objectives, the qualitative characteristics of the information, elements of financial statements, their measurement and display in the statements as well as elements of disclosure. The qualitative characteristics listed for example, include understandability, relevance, reliability and comparability (Zeff 2007:291). There are two specific challenges arising where worldwide financial reporting is concerned: comparability and convergence. Most companies are using the International Financial reporting Standards in order to prepare their financial statements (Zeff, 2007). The differences in business customs and corporate structures, such as the kieretsu in Japan and chaebol in Korea which are actually networks of holding companies with interlocking relationships, raises the question of whether a standard on consolidated financial statements would ensure comparability. It must be noted that there are some factors interfering with worldwide comparability, such as the business and financial culture, the accounting culture, the auditing culture and the regulatory culture (Zeff, 2007). Different countries have different legal frameworks in place to tackle issues of financial regulation and the functioning of companies. For example, in the United States, the Sarbanes Oxley Act tries to regulate the funct ioning of companies, while in the UK, it is the Turnbull report which has guided corporate governance. Achieving similarity between the different legal national systems and their effective implementation across geographical boundaries is also difficult. While there are similar provisions among the laws of different countries, it must be noted that statutory provisions tend to set out legal parameters which may be adequate to express what financial actions would be considered illegal. The Companies Act of 2006, for example, has recently been amended to allow companies greater latitude and flexibility in their operations, such as decision making, company formation, director duties, etc, as well as spelling out limits on remuneration allowable to them. The components of the legal provisions thereby set out detailed parameters about how the company functions and how it is to carry out its business operations. The Companies Act of 2006 also requires that companies establish risk assessment and accountability measures, such as setting up independent auditor function to monitor and check accounting procedures within the Company. But all these aspects are dealt with in generalities rather than specifics in so far as statutory provisions are concerned. But the ISAB framework is much more comprehensive from the perspective of establishing and defining financial parameters. For instance, the ISAB framework defines assets, liabilities and equity clearly. Other information contained in the frameworks includes the characteristics of financial information, such as the elements of financial statements and their recognition, as well as measurement of assets and liabilities. As Ball (2005) points out, investors require high quality financial statements, which would necessitate (a) an accurate depiction of economic outcomes (b) timeliness and (c) a low capacity for manipulation by managers. None of these elements are likely to be components of the law (Ball, 2005:5). The ISAB framework on the other hand, does place an emphasis on reliability and relevance. The objectives spelt out under ISAB include the development of high quality, understandable and enforceable global accounting standards, promoting the rigorous application of those standards and bringing about a convergence in these standards.(Ball, 2005:6). Moreover, the regulatory frameworks place emphasis on reliability and consistency of accounting frameworks which helps to ensure that there is comparability and relevance across geographical boundaries. In conclusion therefore, a regulatory framework for financial reporting is necessary to ensure that there is consistency across financial standards in various countries. Regulatory frameworks also help to define financial parameters more clearly as compared to statutory provisions, which provide a more generalized set of rules and laws that companies are expected to adhere to. It is only when there is a violation in financial conduct that a legal provision can be applied and contested, in order to establish how it applies in the context of the specific incident or allegation that has been brought before the Courts. A financial regulatory framework such as the ISAB framework however, clearly defines financial parameters and allows for the preparation of accurate financial statements which are likely to be more informative for investors, based upon an accurate depiction of economic outcomes. References: * Bullen, Halsey G and Crook, Kimberley, 2005. â€Å"A new conceptual framework project†, Financial Accounting Standards Board. * Fearnley, Stella and Hines, Tony, 2003. â€Å"The regulatory framework for financial reporting and auditing in the United Kingdom: the present position and impending changes†, The international Journal of Accounting, 38: 215-233 * Haller, Axel and Walton, Peter, 2003. â€Å"Country differences and harmonization†, IN Walton, P, â€Å"International Accounting†, London: Thomson:1-34. * Zeff, Stephen A, 2007. â€Å"Some obstacles to global financial reporting comparability and convergence at a high level of quality†, The British Accounting Review, 39:290-302

The Cold War and Reagan Essays -- Essays Papers

The Cold War and Reagan Topics What was the cold war? What were the causes? The Cold War at Home. -The U.S. involvement. What major roles did President Reagan serve in the cold war? A cold war is defined as "a conflict between nations for national advantage conducted by political, economic, and psychological means instead of direct military action." The Cold War defined by the same source was determined to be "the contest for power between the communist nations headed by the Soviet Union and the nations of the West headed by the United States that began after World War II"(Barnhart & Thorndike, 198). Causes of the Cold War included the struggle between conflicting values, those of Democracy in the West and statism in the East. After WWII the re-establishment of Eastern European countries destroyed in the war led to much disagreement about governmental structures, the West wanted Democracies with capitalist systems while the East (USSR) wanted a communist regime. The USSR would then be able to use the countries as buffer states against any further attack. This attack on the Soviets that might come would not take long to go through the buffer states protecting them against the new mechanism of war. World War II had created fear in the Soviets, mainly because of the use of the Atomic Bomb, and therefore they pushed towards nuclear technology. The label "iron curtain" was placed on the barrier existing between the Soviet bloc and the rest of the world, this idea was pushed by Winston Churchill to further British power in Western Europe. Forty-six years of a blind war followed and the West and the East fought "a war of nerves." As soon as World War II had ended threats of war with the Soviet Union beg... ...The Cold War was fought through the build up of arms, technology, and psychologically on the home front with a battle of nerves. Works Cited Internet Sources - http://ac.acusd.edu/History/20th/coldwar8.html - http://ac.acusd.edu/History/20th/reagan.html - http://icdweb.cc.purdue.edu/~phealy/foreign.html - http://icdweb.cc.purdue.edu/~phealy/mccarthy.html - http://icdweb.cc.purdue.edu/~phealy/yalta.html - http://www.tntech.edu/~mww/www/reagan.html - http://www.whitehouse.gov/WH/glimpse/presidents/html/rr40.html - Barnhart, Clarence L., Thorndike E.L., Thorndike Barnhart Advanced Dictionary, Glenview, Illinois: Scott, Foresman and Company, 1974. - Cannon, Lou. President Reagan: the Role of a Lifetime. New York: Simon and Schuster, 1991. - Wills, Gary. Reagan’s America. New York, Viking Penguin, 1988.

Stigma Within the Fast Food Industry Essay -- Restaurants Employment Es

When working at a fast food restaurant, more often than not it is accompanied with a stigma. People tend to believe that those who work in fast food restaurants are not capable of anything better. They assume people working at fast food restaurants are slow and uneducated, or they simply look down upon them because these jobs have become known as "dead-end jobs." This so-called "dead-end job" is what people might describe as low-wage labor that employees have a susceptibility to become trapped in. Fast food employee’s face many challenges, morally and socially. High school students take jobs at fast-food restaurants because they are convenient and can work around their schedules. High school students who work in fast food use the money they make toward an education, and most have goals that do not at all include the fast-food world. Why then, does the stigma remain? Perhaps it is because it has been coined as a social prejudice, and people are afraid to disagree. Parents tend to dissuade their working age children from working at fast-food restaurants as the stigma of these jobs creates conflict in their social lives. My background in the fast food industry starts with my first real job. I began working at Wendy’s when I was sixteen years old. I kept to myself for nearly a year. I was working for one thing, and that was to satisfy the customers. After exactly three years, the choice to move on and change was a hard decision to make, my hours were steady, and the managers were pushing me to move up in the chain of power and become a shift manager. I had accumulated three employee of the month awards (employees were only allowed to get it once a year), the title of ACE employee (knowledge of all positions and the skil... ...erve while working in the fast food industry that people not in the industry would not know or understand? 7. Has your perspective been provoked by the stigma related with fast food workers, if so, how? [ii] Questions for non fast food workers. 1. When did you first begin working and where? 2. Have you ever been to a fast food restaurant? 3. How do you feel this job might differ from that of one in a fast food restaurant? 4. Do you feel that fast food restaurants carry a stigma among employees? 5. Have you ever heard or been witness to a situation regarding the moral corruption of fast workers? Works Cited Bennet, Jay. Personal interview. 30 Oct. 2004. Koenecke, Wade. Personal interview. 25 Oct. 2004 Long, Whitney. Personal interview. 25 Oct. 2004 Wright, Sean. Personal interview. 28 Oct. 2004 Stigma Within the Fast Food Industry Essay -- Restaurants Employment Es When working at a fast food restaurant, more often than not it is accompanied with a stigma. People tend to believe that those who work in fast food restaurants are not capable of anything better. They assume people working at fast food restaurants are slow and uneducated, or they simply look down upon them because these jobs have become known as "dead-end jobs." This so-called "dead-end job" is what people might describe as low-wage labor that employees have a susceptibility to become trapped in. Fast food employee’s face many challenges, morally and socially. High school students take jobs at fast-food restaurants because they are convenient and can work around their schedules. High school students who work in fast food use the money they make toward an education, and most have goals that do not at all include the fast-food world. Why then, does the stigma remain? Perhaps it is because it has been coined as a social prejudice, and people are afraid to disagree. Parents tend to dissuade their working age children from working at fast-food restaurants as the stigma of these jobs creates conflict in their social lives. My background in the fast food industry starts with my first real job. I began working at Wendy’s when I was sixteen years old. I kept to myself for nearly a year. I was working for one thing, and that was to satisfy the customers. After exactly three years, the choice to move on and change was a hard decision to make, my hours were steady, and the managers were pushing me to move up in the chain of power and become a shift manager. I had accumulated three employee of the month awards (employees were only allowed to get it once a year), the title of ACE employee (knowledge of all positions and the skil... ...erve while working in the fast food industry that people not in the industry would not know or understand? 7. Has your perspective been provoked by the stigma related with fast food workers, if so, how? [ii] Questions for non fast food workers. 1. When did you first begin working and where? 2. Have you ever been to a fast food restaurant? 3. How do you feel this job might differ from that of one in a fast food restaurant? 4. Do you feel that fast food restaurants carry a stigma among employees? 5. Have you ever heard or been witness to a situation regarding the moral corruption of fast workers? Works Cited Bennet, Jay. Personal interview. 30 Oct. 2004. Koenecke, Wade. Personal interview. 25 Oct. 2004 Long, Whitney. Personal interview. 25 Oct. 2004 Wright, Sean. Personal interview. 28 Oct. 2004

College Athletes Should Not Be Paid Essay -- It’s Not Time to Pay Stud

Waking up before the sunrise is a daily routine. Early morning film sessions, class, then practice, which dominates the day. There are few moments in between for food and socializing, but the life of a student athlete is anything but ordinary. Sleep, eat, practice and school are all an athlete knows, and with the pressures of campus life it becomes even more difficult. No time for much of anything, let alone getting a job. Like most students, these athletes need money, but do not have a spare moment to work. Without any source of income, athletes are put at a major disadvantage. Their full-time job is athletics, in addition to rigorous college-level courses. The possibility of becoming a professional athlete and making millions becomes very appealing. This course of action leads to student athletes making money illegally, dropping out of school, or leaving school early without a degree in an often futile attempt to play at the professional level. Waking up before the sun is a daily routine. Early morning film sessions, class then practice, which dominates the day. There are a few moments in between for food and socializing, but the life of an athlete is anything but ordinary. Sleep, eat, practice and school are all an athlete knows, and with the pressures of campus life it becomes even more difficult. No time for much of anything, let alone getting a job. However, now that student athletes are compensated, they no longer need to worry about money. They can fully focus on school and sport. They can achieve success in both areas without worrying about money. Graduation rates are higher, academic grades are higher. Later in life, players more successful in their respective professional fields because of the ma... ...ommentary: Should NCAA should get rid of Amateurism for its Athletics.† Morning Edition (NPR). 07 May 2013. Points of View. Ebscohost. 05 Jan. 2015. Greenlee, Craig T. â€Å"College Athletes deserve some equity.† Black Issues in Higher Education. 27 Apr 2014. 62 (1). Elibrary. 05 Jan. 2015. Jackson, Derrick. â€Å"Op-ed: It’s Time to Pay Student Athlete.† Interview with Lynn Nery. NPR Talk ok the Nation. 06 June 2013. Elibrary. 05 Jan. 2015. King, Bill. â€Å"The Junkyard Blawg: Play for Pay?† The Atlanta Journal and Constitution. 03 May 2012. Elibrary. 05 Jan. 2015. Maisel, Ivan. â€Å"Don’t expect athletes to be paid anytime soon.† Sporting News 10 Oct. 2014. 52 (1). Elibrary. 05 Jan. 2015.