Term Paper; Case Study Leadership Theory & Practice 5th Edition, Peter Paper

; Case Study Leadership Theory & Practice 5th Edition, Peter G. Northhouse - Term Paper Example Skills have been stated to be a quite different aspect compared to characteristics or features of leaders. Skills have been defined to be the comprehension or the competencies which could be attained by the leaders (Nothhouse, 2009). Three fundamental skills have been stated to be possessed by an individual to become an effective and successful proprietor. The three set of fundamental administrative skills entail human, technical and conceptual aspects. The development of the mentioned skills would aid an individual to become a successful leader along with achieving success in the works carried out (Nothhouse, 2009). For instance, with regard to the considered case, it could be stated that operating a restaurant business would require knowledge regarding the kind of foods that is offered in the particular restaurant and the way those foods or dishes are prepared for satisfying the taste buds of the customers. From this instance, it could be understood that technical skills entail a practical and concrete activity with regard to the core or fundamental products offered along with the organizational processes. Technical skills are considered to be quite vital as it aids in delivering the exact products that is intended to be produced by an organization (Nothhouse, 2009). The notion of human skill is believed to be quite vital for an individual to become a successful leader or administrator. Human skill refers to the know-how and capability of working along with numerous other individuals. Human skills have been defined as the aptitudes that aid a leader to carry out the tasks effectually in harmony with the peers, subordinates and superiors. This is required to be done for the reason of attaining the organizational aims (Nothhouse, 2009). Leaders with this particular skill help to generate an environment of trust which creates a comfort level for the employees and make them feel

Identifying and Meeting the Needs of an Individual Client

Identifying and Meeting the Needs of an Individual Client Olufunmilayo Adegbore Am study this course healthcare support to help me gain a better and clear understanding of the best provision require to meet the needs of my clients and to become a healthcare assistant. In this assignment I will be discussing about three clients and will change their names for security purpose. I will be identifying and meeting the needs of my individual clients. Firstly I will discuss about my first client who is suffering from memory loss due to dementia, physical disability and social isolation a little background of my client. Julia a seventy-six years old woman, a lovely wife and mother with grandchildren. Her mother is a registered supervisor that supervised the little kids. Julia has always been very family oriented because she knows her family members are the people who will always be there to support her. Julia love travels a lot she been to Rome and she have a good time when she is in Rome and she have the opportunity to meet the pope in Rome. Julia family member took her to the GP because she was suffering from cough and Julia was transferred to the hospital because Julia has developed infection through the cough and she admitted in the hospital. Memory loss which can make it difficult to carry on a long and thoughtful conversation for example Julia thinking that her mother is still alive and she very distress because of the noisy environment and become confused and upset of the disoriented ward she been put in. this can be easily distracted. By maintaining a safe environment is everyone responsibility in Julia case she needs to be supervises to prevent her wandering the corridors or she may walk out front door. Julia supposed to be in a separate room that have much space to walk around because of slips trips falls or trying a barrier like a curtain to mask the door. Julia be very able to walk, stand and strong enough to pack her things by giving Julia a job such as folding laundry might help her to make her feel needed and useful and to support her independence and ability to care for herself. Showing Julia a family picture so that she can remember things and to make time for a regular exercise and GP appointment. By maintaining a safe environment locks high or low on the door has to be installing. To give Julia ability to maintain connectedness, social relationships and networks within and outside and also Julia should be engage in meaningful activities. To enable Julia to maintain contact link to the priest and family. And a meaningful relationships with those around her. Try distracting with a snack and cup of tea Meaningful and respectful engagement with Julia has to be encouraged. Julia should be treated with kindness, respect and consideration. To communicate with Julia and to make some connection with her through touch, sound or visual stimulation that can enhance her personhood and bring out the best in her. My personal learning is to make sure I look for her responses through her facial expression, the opening of the eyes and other eye contact, body or hand movement and her strong hand-grasp to observe a smile or giggle, to see her head turn in the direction of my sound to know that Julia is listening to the story or looking through the picture album showing to her then I know I make a difference and contributed to Julia quality of life. Mr jones is a 67 years old India man, who had lived long in Ireland with his family members, his family members was the one taking care of him, until they decide to take him to care home. Mr Jones was suffering from stroke, and he was stroke on the right side of his body. I will be using (Gibbs reflective cycle Gibbs, 1998.) to explain my points. Stroke is a disease that mostly affects people in the later part of their lives. Stroke attacks peoples brain either because of their life style or what they eat or as a result of some dysfunctional aspect of the body. In this regard American Heart association (2015) Said that A stroke occurs when a blood vessel that carriers oxygen and nutrients to the brain is either blocked by clot or burst (raptures). When that happens, part of the brain cannot get the blood (and oxygen) it needs, so it and brain cells die. Mr Jones like i said, has stroke on one side of his body, he cannot bath himself and feed himself because he is on a wheel chair and a little difficulty in his speech. Mr jones has difficulty in swallowing and this can cause fits of choking and coughing when he try to drink liquids and his loss of intellectual and thinking ability has a difficulty with his attention, concentration, and working out problem and his emotional distress. Mr Jones can still make use of his other hands, by holding the shower hand to run the water to his body, use the hand to brush his teeth, to comb his hair. By doing this I have to give Mr Jones independence by asking him if he can do any aspect of the bathing by using the other hands. By providing Mr jones wheel chair and took him for a walk to a nearby shopping mall for fresh air and to have a good communication and interaction with Mr jones and to arrange a GP visit for therapy for a day care basis and occupational therapist (OT) to assess Mr jones activities of daily living (washing, dressing etc.) physical abilities and to get Mr jones practising the techniques and to carry out daily living activities at weekends and in evenings. Maintaining safe environment special equipment such as hoist to make sure Mr Jones is moved safety. A special mattress designed to prevent pressure sores and by getting Mr Jones position is important in lying and sitting to support the weak side and to reduce muscle caused by inactivity and altered muscle tone. By adjusting the height of the armchairs and providing a handrail beside the toilet or bath and shower. Being easily distracted by noise, and other peoples conversation and showing responses and taking time to process what is be heard. My personal learning outcomes is to reduce as far as possible, background noise such as TV or radio and by keeping my sentences short and uncomplicated. By allowing Mr Jones to do things for himself it may take longer but I have to require a lot of patience. However it is well spent as it will help Mr Jones to rebuild his self-confidence. Currently m randy is 81 years old, and he reaching the end of his life, and his self-imposed isolation is being encroached upon by the forces of government. Mr Andy has lived all alone after his wife passing away 25 years ago, he lived on the shores Lake OHiggins in a house built from the remains of a shipwrecked fishing vessels. Mr Andy is a pastoralist in a small community of several hundred people, 25 miles away horseback ride through rugged mountain. One day Mr Andy makes this ride to sell his cattle in town when he had a fall and he was rush to the hospital, m randy doesnt like going to the hospital or a nursing home because he taught going to a nursing home makes someone useless. While Mr Andy he still in the hospital the social worker get involve in his case and he was being transfer to a nursing home for proper care. Mr Andy having problem with his health problem and disability to walk and to stand for a long period because Mr Andy is very old and his sensory impairment such as hearing loss. Based on Mr Andy lack of social relationships his strong risk factor for his mortality as physical activity makes him depress. Mr Andy can still maintain a balanced healthy and notorious diet because m randy is very fit and can walk and still able to do thing on his own. Social isolation has shown in Mr Andy and it has effect his health and well-being, by helping Mr Andy is by offering a counselling and support bereavement, local groups, offer a drop in centre and telephone advisory line for Mr Andy. To improve Mr Andy situation because he is very old man and not that strong anymore is to gather a smaller group of people who can share an interest for example bible study, gardening or sport and local activities that for an elderly people like Mr Andy and a daily activities like exercise and reading newspaper. Lonely people like Mr Andy need encouragement and guidance on how to be creative and to make a positive approach in meeting others, they should be allow to reaches others so that m randy retain active involve in his pattern of his own lives, rather than sitting and waiting for a doorbell to ring. My personal learning is to being nice to Mr Andy and taking trouble to find out his hopes and fears. Because m randy doesnt have anybody around him to visit him or call him on phone, I have to organise a visitors like priest, counselling or going on outings. Finally alternative therapies (e.g. massage and aromatherapy) can relieve Mr Andy. Looking at the challenges, the measures and the competences of my three clients makes me have a lot of knowledge to encourage them in their effort as to maintain independence that can provide them with sense of accomplishment in what they do and the ability to maintain independence always.

Naked Lunch :: Naked lunch Essays

Naked Lunch Naked Lunch has been described by the author as "brutal, obscene, and disgusting." It was declared "obscene, indecent, and impure... and taken as a whole... predominantly prurient, hardcore pornography and utterly without redeeming social importance," when brought to trial in Boston in 1965. However, declaring William Burroughs' novel to be completely without redeeming social importance seems inaccurate. Naked Lunch paints a vivid portrait of addiction in all its horror, and of the steady degradation of the addicts around whom the novel centers. Burroughs titles his introduction "Deposition: Testimony Concerning a Sickness." He believes that addiction is a sickness, and feels that addiction should be treated as a physical disorder, not a psychological one. The body of the novel is not pornography; it is not pointlessly graphic and obscene. Rather, it uses its brutality and obscenity to portray the destructiveness of addiction. Though it contains detailed descriptions of drug use and even outlines how to use many drugs, it is not a manual for drug use. Rather could be taken as a warning against the usage of such drugs. The novel gives a detailed description of the horrific consequences of addiction, as well as a warning: "Look down LOOK DOWN along that junk road before you travel there and get in with the Wrong Mob... A word to the wise guy" (xlv). The novel warns against addiction, against using the drugs described within. As a warning against drug use and a study of addiction, Naked Lunch has both social and scientific value. During the Boston trial, writers Norman Mailer, Allen Ginsberg, and John Ciardi all testified on behalf of the novel, asserting its literary importance. When the book was declared not to be obscene by the Massachusetts Supreme Judicial Court, the decision was based on the fact that a "substantial and intelligent group" within the literary community believed that the novel had literary significance (394). In light of its being considered to have not only redeeming social value, but redeeming scientific and literary value as well, Naked Lunch cannot be declared obscene in the legal sense.

Comparison Between ‘Christabel’ from S.T.Coleridge’s Christabel and Madeline in John Keats ‘the Eve of St. Agnes’

Hameed Khan Topic: Comparison between ‘Christabel’ from S. T. Coleridge’s Christabel and Madeline in John Keats ‘The eve of St. Agnes’ Christabel from Samuel Taylor Coleridge’s ‘Christabel’ and Madeline from John Keats ‘The Eve of St. Agnes’ have many striking similarities. Throughout both poems, the two women are constantly referred to as pure, innocent, generally good girls. They are praised by the other characters and by the narrators. However, both women engage in behaviour that defies their descriptions.Occasionally, this behaviour even disrupts gender roles, and the position of the girls in their respective texts in question. The topic of concern is with a particular text in question so there is a limit to what extent this topic expands. The comparison is between the two leading females of their respective texts. The similarities that I want to point out to are limited to the leading female characters only and no t to the entire Poems in concern. On the basis of the review of both the poems and a complete study of individual characters, this paper is an attempt to point to the fact that Madeline in The Eve of St.Agnes shows character similarities in nature and behaviour to that of Christabel in Christabel by S. T. Coleridge. When we start analyzing the text of ‘Christabel’ the first thing that we come to know about her character is that there are many instances when Christabel is described as good. First of all, she is constantly called lovely, or referred to as the lovely lady Christabel â€Å"whom her father loves so well† (Coleridge 3). Christabel is adored by her father. The narrator calls Christabel her father’s joy, his pride, â€Å"So fair, so innocent, so mild† (Coleridge 16).Another aspect of Christabel’s goodness is that she is a devout Christian. The girl is described as a â€Å"youthful hermitess†¦ Who, praying always, prays in sleep † (Coleridge 10). There is one instance where â€Å"Christabel devoutly cried/To the Lady by her side,/Praise we the Virgin all divine/Who hath rescued thee from thy distress! † (Coleridge 6). By giving us details that Christabel is a good Christian, the reader can assume that she is a good person in general. Later, after Christabel takes Geraldine back into her room and Geraldine undresses, the narrator yells â€Å"O shield her! shield sweet Christabel! (Coleridge 8). Christabel is apparently not allowed to look at Geraldine’s body, perhaps in fear of corrupting her innocence. Yet the reader sees that Christabel is not as innocent as she is portrayed. Christabel’s behaviour throughout the poem is far from innocent, and at times could be called inappropriate. The reader is first introduced to Christabel as she is sneaking out of the castle. It is said that â€Å"she in the midnight wood will pray† (Coleridge 3). Automatically, there is something st range about her behaviour. Why would a young woman who presumably has a church in her home go outside to pray?Yet the narrator says that she goes â€Å"To make her gentle vows† (Coleridge 9), so she can’t be doing anything too bad. As Christabel is leaving, the narrator mentions that â€Å"She had dreams all yesternight/Of her own betrothed knight† (Coleridge 3). Not much is said about these dreams, but they can be perceived as either innocent or suspicious. As Christabel meets Geraldine, she is afraid but welcoming to the stranger. When Geraldine seems scared, â€Å"Then Christabel stretched forth her hand /And comforted fair Geraldine† (Coleridge 5). Christabel comforts Geraldine and offers to take her to her house and have her father take her home.Yet Christabel stretching out her hand can also be referring to Eve stretching out her hand and taking the apple from the snake. By stretching out her hand, Christabel is perhaps accepting evil and sin. Later , when Christabel is taking Geraldine home, Geraldine seems to faint. Christabel therefore â€Å"with might and main/Lifted her up, a weary weight,/Over the threshold of the gate† (Coleridge 5). This image of one person carrying another over a threshold and into a home is suspiciously reminiscent of a husband carrying a wife into their new life together.As Christabel is the carrier, she takes on the role of the man. Although she does not do it intentionally, Christabel is already crossing some gender boundaries. Once she finally gets Geraldine inside of her room, one of the first things that Christabel does is offer her some wine: â€Å"O weary lady, Geraldine,/I pray you, drink this cordial wine! /It is a wine of virtuous powers† (Coleridge 7). What are Christabel’s intentions here? Is she simply being friendly, or is she perhaps hoping that she can use the alcohol to manipulate her guest? Then, Christabel undresses, sits own, â€Å"And on her elbow did reclin e/To look at the lady Geraldine† (Coleridge 8) as she undresses. This interest in watching Geraldine undress seems quite uncharacteristic of Christabel, and in fact, that is when the narrator promptly jumps in to shield Christabel’s innocent eyes. After a rather questionable evening, where it can be assumed that the two women did more than just sleep, Christabel awakens and â€Å"Grows sad and soft; the smooth thin lids/Close o’er her eyes; and tears she sheds† (Coleridge 9-10). There are many different explanations for why she is crying.Perhaps it is because she knows that she has sinned, which she admits â€Å"’Sure I have sinn’d! ’† (Coleridge 11). These sins can include bringing Geraldine back into the castle, trying to manipulate her, sleeping with her, etc. So she did perform an uncharacteristic deed, but she feels bad about it so she is crying. But at the same time that she is crying, â€Å"she seems to smile/As infants at a sudden light! † (Coleridge 10). The most likely explanation for this unusual conduct is that Christabel is still under Geraldine’s spell.As she begins to cry, the spell kicks in forcing her to smile dumbly. On the next page, Christabel hopes that her sin will stay hidden: â€Å"and having prayed/That He, who on the cross did groan,/Might wash away her sins unknown† (Coleridge 11). Yes she is praying for forgiveness, but she is also praying that no one finds out about what she did. Would this be considered taking responsibility for her actions? Christabel also ponders the idea that her deceased mother is watching over her in Heaven. She asks â€Å"What if she knew her mother near? But this she knows, in joys and woes,/For the blue sky bends over all! † (Coleridge 10). She is both happy and upset that her mother is watching her. She is probably worried that her mother would not approve of her actions and be ashamed by them. Christabel’s mother wa nted her daughter to marry and have children. That was her duty as a woman of that time. Yet Christabel has just had this potentially lesbian encounter. Later, the girls go to see Sir Leoline and Bard Bracy. Bracy says that he dreamt of a dove who he called Christabel with a snake coiled around its neck.This piece of imagery has both the positive aspect of the girl as the dove, and the negative aspect of the dove being possessed by evil. It further adds to the confusion of the conflicting occurrences and mentions of Christabel’s character. This confusion center’s on the juxtaposition of the positive way the narrator describes the girl and her seemingly bad behaviour. The reader receives mixed messages, which are unfortunately not cleared up by the end of the poem. These mixed messages also occur in the poem â€Å"The Eve of St.Agnes. † The main female character, Madeline, is depicted as a good, innocent girl. The first detail that Keats gives the reader is that Madeline is still a virgin. The ceremony that Madeline is performing that night only applies to virgins, so the reader knows that Madeline is not experienced in matters of love making. Next, Madeline is caring and gentle towards her maid, Angela. When Madeline sees that Angela is on the stairs, â€Å"With†¦ pious care,/She turn’ed, and down the aged gossip led/To a safe level matting† (Keats 23).Yet although the girl is performing an action here, and elsewhere in the poem, she does not really speak except for about two stanzas when she is talking to Porphyro. This silence makes her seem quiet and passive. The reader is also allowed access into Madeline’s room, which is described in great detail: â€Å"A casement high and triple-arch’d there was, All garlanded with carven imag’ries Of fruits, and flowers, and bunches of knot-grass, And diamonded with panes of quaint device, Innumerable of stains and splendid dyes, As are the tiger-moth’ s deep-damask’d wings; And in the midst, ‘mong thousand heraldries,And twilight saints, and dim emblazonings, A shielded scutcheon blush’d with blood of queens and kings. † (Keats 23) A person’s room should somehow reflect that person’s personality, and according to Madeline’s room, she is religious, wealthy, feminine, and loyal to her family. She basically sounds like she is everything that a girl in that time period is supposed to be. Later, as Madeline is shown praying, she is described as â€Å"a saint†¦ a splendid angel†¦ so pure a thing, so free from mortal taint† (Keats 24). So Madeline, like Christabel, seems to be a rule-abiding, loyal girl.However, there are things that Madeline thinks and does that makes the reader rethink the praises sung of the girl. On one hand, Madeline is just a curious, naive girl who wishes to dream of her future husband, to have â€Å"visions of delight,/And soft adorings from their loves†¦ Hoodwink’d with faery fancy† (Keats 19). On the other hand, she hopes to dream of more than that: â€Å"Full of this whim†¦ her heart was otherwhere:/She sigh’d for Agnes’s dreams†¦ Anxious her lips, her breathing quick and short†¦ And all the bliss to be† (Keats 19). What kind of dreams is Madeline hoping to have?In the cancelled stanza that Keats was forced to take out, he describes these dreams as consisting of â€Å"More pleasures follow’d in a dizzy stream† (Keats). That is in fact how Madeline’s night ends up turning out, as it is implied that her and Porphyro have sex. But the reader cannot be sure exactly what happens and how it happens. The details are so vague, that it is confusing as to who initiated it, if there was consent, and if the act even did happen. The reader does know, nevertheless, that Madeline thinks Porphyro will leave her: â€Å"Porphyro will leave me here to fade and pine. –/’Cruel!What traitor could thee hither bring? † (Keats 27). By saying this, Madeline entraps Porphyro in a situation where he really has no choice but to stay with her. She even calls herself â€Å"A dove forlorn and lost with sick unpruned wing† (Keats 27), making herself seem helpless. She clearly is able to manipulate the situation so that Porphyro, if leaving was his intention, feels too guilty to go. She then says that she would curse him, but â€Å"my heart is lost in thine† (Keats 27), which suggests that if it were not, Madeline would have cursed him. What kind of a good Christian girl would curse someone?After their interaction, the two lovers flee the castle. Although Madeline is â€Å"beset with fears† (Keats 27) as she is running away with Porphyro, she still consents to go with him. This does show that she is passive and non-confrontational, but if she fully was a pure, innocent character, she would have refused to go with Porph yro and stayed with her family like she was supposed to. However, it can also be interpreted that since she lost her virginity to Porphyro, she must now marry him. Porphyro is therefore like a husband to her, and she must obey her husband. The messages that the author sends in this poem are mixed as well.It is constantly unclear who is controlling the situation in any given moment. In both of these poems, the two leading characters are described by the narrator as being stereotypically female. They obey the rules, they are quiet and passive, and they are lovely and gentle. It is quite a shock, to see how these girls behave; often, their behaviour could even be called stereotypically male. They manipulate and control others, they have thoughts that young girls should not be having, and they are quite independent. But how is the reader supposed to interpret these complicated details?Perhaps the authors are trying to say that women can still be good women even if they do male things, o r have male thoughts. Or maybe they are trying to say that even the most feminine girls have some male aspects, and that is completely natural. Either way, it is clear that both of these authors were progressive men who understood that gender boundaries could be quite flexible. Bibliography: Coleridge, Samuel T. Christabel. 1907. Keats, John. The Eve of St. Agnes. 1885. Rosemarie Maier, The Journal of English and Germanic Philology Vol. 70, No. 1 (Jan. , 1971)

Family Issues

International Research Journal of Finance and Economics ISSN 1450-2887 Issue 52 (2010)  © EuroJournals Publishing, Inc. 2010 http://www. eurojournals. com/finance. htm Does Education Alleviate Poverty? Empirical Evidence from Pakistan Imran Sharif Chaudhry Associate Professor of Economics. Bahauddin Zakariya University Multan, Pakistan E-mail: [email  protected] edu. pk Shahnawaz Malik Professor of Economics, Bahauddin Zakariya University Multan, Pakistan E-mail: [email  protected] edu. pk Abo ul Hassan Ph.D Research Fellow, Department of Economics, Bahauddin Zakariya University Multan, Pakistan E-mail: [email  protected] com Muhammad Zahir Faridi Lecturer, Department of Economics, Bahauddin Zakariya University Multan, Pakistan E-mail: [email  protected] com Abstract Poverty has become a sensitive and ever remained issue almost in all developing countries of the world. Education plays a vital role in poverty alleviation. Therefore, it is important to investigate that whethe r different levels of education or literacy cause to alleviate poverty.The major objective of this study is to evaluate the effects of different levels of education and literacy on the incidence of poverty in Pakistan. Our results suggest that poverty alleviation process would be accelerated if resources are targeted at education sector especially in higher education. Pakistan presents a paradoxical situation. Until the late 1980s Pakistan had achieved a spectacular record of economic growth and reduced incidence of poverty remarkably, but the country had horrible social indicators.However when social indicators began to improve in the 1990s for a variety of reasons, both internally and externally driven, the average rate of economic growth declined. Contrary to the said situation, the general perception about Education is that the role of education in poverty alleviation, in close co-operation with other social sectors, is crucial. This paper is mainly intended to explore the reali ty that to what extent education is affective in poverty alleviation in Pakistan. In addition, some important macroeconomic variables have also been taken understudy to find out the reality of the problem.Keywords: Education; Poverty; Inflation; Economic Growth; Openness; Pakistan International Research Journal of Finance and Economics – Issue 52 (2010) 135 I. Introduction Poverty is a multidimensional phenomenon, encompassing inability to satisfy basic needs, lack of control over resources, lack of education and skills, poor health, malnutrition, lack of shelter, poor access to clean water and sanitation, vulnerability to shocks, violence and crime, lack of political freedom and voices. The poor are the true poverty experts.They assert on material well being, physical well being, social well being, security of food, security of law and order, public safety, safety from violence and civil conflicts, freedom of choice and action, being a part of the decision making body rather to be a victim of decision making body and the security of jobs. Poverty can be looked at from different angles and depending upon the perspective one adopts definitions of poverty may vary. It differs from country to country and from context to context. Poverty may be absolute or relative.Absolute poverty can be eradicated but relative poverty cannot. Relative poverty is a dynamic concept because it involves comparison between groups. It exists in all parts of the world, either in packets or on a much larger scale. In Pakistan both absolute and relative poverty exists normally, poverty is measured in monetary terms. The causes of poverty are also multidimensional. 1 There is no single cause that can explain it fully. Poverty is often related to a number of factors: physical, psychological, economic and sociocultural.Among the physical factors accounting for poverty are an unfavorable natural environment and lack of basic physical and economic infrastructure. These may also relate to poor health and malnutrition. Psychological factors refer to feel of hopelessness, helplessness, lack of confidence in one’s self and poor self-image resulting from inappropriate value system, cultural deprivation and undeveloped potential. These factors may also be related to an inability to participate in democratic processes and behavioral inadequacies aggravated by low levels of literacy and education.Education is the most important factor that distinguishes the poor from the non-poor; according to Pakistan’s Interim Poverty Reduction Strategy Paper 2001, the percentage of literate of households heads is 27 in poor households while for non-poor households it is 52. Though the origins of human capital theory can be traced to the earlier economists – from Adam Smith (1776) to Alfred Marshall (1920) – it is Theodore Schultz (1961) who created a ‘human investment revolution in economic thought’ by emphasizing the role of human capital in e conomic growth.Schultz (1961), Gary Becker (1964), Jacob Mincer (1972) and many others with their voluminous pioneering contributions placed education at a high pedestal in the theories of economic growth. Amartya Sen (1999) rightly argues that education constitutes a part of human freedom and human capability. . Over the period under study many important factors like unemployment, current account deficit and services growth rate have been contributed to why poverty is increasing even though education has increased consistently.We have tried to give a brief description of the debate of researchers that if increased education has significant impact on income and thus poverty or not or whether there are other factors mitigating or attenuating the impact of education on poverty. However in our analysis, the central focus has been on the role of education in poverty alleviation. Education has important implications for the analysis of changes in a poverty profile in a country. Keeping i n view the issues high lighted above, this paper tries to answer following related questions.Does education play its role to alleviate poverty? What is the role of other key macroeconomic variables in poverty alleviation? What can be generalized about the impact of education on poverty? What are the important policy implications? These questions keep their extreme importance as answering the said questions will bring a solution to the hitherto puzzle that’s why Pakistan is lagging behind on the development path as compared to some developed countries who got independence later than us. 1 Technical consultation on literacy as a tool for the empowerment of the poor, Lampang, Thailand, 1997. 36 International Research Journal of Finance and Economics – Issue 52 (2010) To pursue the problem understudy, this paper is technically divided into several parts. Firstly we have attempted to explain the conceptual and theoretical framework of education and poverty alleviation. So f ar as the empirical analysis is concerned, we have divided it into two portions. The first portion presents the descriptive analyses and the second portion presents the econometric analysis which has been undertaken by considering autoregressive regression equations. II.Education and Poverty: A Theoretical Framework The economists often define education as having ‘direct effects’ and ‘indirect effects’. The direct effects of education are the imparting of knowledge and skills that are associated with higher wages. The indirect effects, also often referred to as external benefits, include fulfillment of basic needs, higher levels of democratic participation, better utilization of health facilities, shelter, water and sanitation and the additional effects which occur in woman’s behavior in decisions relating to fertility, family welfare and health.The relationship between education and poverty can also be examined by rate of return analysis, and produc tion function analysis – at individual as well as social/national levels. Rates of return are estimated using either Mincerian earnings function (Mincer, 1972), or using the concept of marginal efficiency of capital that relates costs of education to the lifetime benefits, essentially earnings associated with education. III. Data and Methodological Issues In order to study the impact of education on poverty, the study chooses time series data, for thirty five years (1972-2007) for Pakistan.The poverty data sets are collected mainly from Malik (1988), Amjad and Kemal (1997), Jamal (2003) and various issues of Pakistan Economic Survey since 2005, while the data on other variables is collected from World Bank, World Development Indicators (WDI), April 2008, ESDS International, (Mimas), University of Manchester. To make time series data on poverty incidence, a linear interpolation technique is employed. The selected time period presents the paradoxical situation of Pakistan as bo th growth and social indicators move in opposite directions.That is why it is selected to understand this paradoxical situation. Thirty five years time period is long enough to capture long run effect of most of the variable constructed in this study. We have tried to keep in view the problem of endogeniety while selecting the explanatory variables for our analysis. The study chooses the absolute poverty (poverty headcount index), education literacy rate, primary school level enrollment rate, middle school level and the university level enrollment widely used proxies for education) as the key variables.In addition, some useful variables (Growth rate, inflation rate, and Trade openness) have also been included in our model. In this study, autoregressive models are employed for econometric empirical investigation. In our first poverty autoregressive regression model, growth, literacy rate, CPI, and hcr(-1) are used to analyze while in the second model, some enrollment rates at various levels are considered. In order to achieve the objectives of the study, trade openness is also considered to check the robustness of globalization. Log values of the variables are used in the analysis.We postulate that the incidence of poverty prevailing in the economy is significantly dependent on higher education level. International Research Journal of Finance and Economics – Issue 52 (2010) 137 IV. Results and Discussions a) Descriptive Analysis Our complete data set consist of 35 years of annual observations from 1973-2007 on the selected variables. The descriptive statistic is reported in table 1 which states that the average of head count ratio (HCR) for our study period is 27. 63% with a standard deviation (SD) of 6. 74. The average of primary school enrollment rate is 11316. 8 with 6204. 18, the value of its standard deviation (SD). Middle school enrollment is 2667. 611 on an average and with standard deviation (SD) 1326. 06. The average values for university enroll ment rate, real gross domestic product (RGDP) and openness are 83045. 19, 22879. 24, 33. 81 with the value of standard deviations 65444. 71, 5756. 76, 3. 18 are given accordingly. As far as skewness of variables is concerned head count ratio (HCR), primary school enrollment rate, middle school enrollment rate and university enrollment rate are skewed on the rightward whereas openness is skewed leftward.All the variables are skewed a little. Table 1: Descriptive Statistics HCR 27. 63 25. 20 45. 75 20. 71 6. 74 1. 04 3. 26 6. 64 0. 04 LITR 36. 93 34. 35 55. 00 22. 10 10. 92 0. 24 1. 56 3. 47 0. 18 MIDDLE 2667. 61 2350. 00 5368. 00 963. 00 1326. 06 0. 36 1. 83 2. 84 0. 24 PRIMARY 11316. 78 9827. 00 24465. 00 4210. 00 6204. 18 0. 57 2. 02 3. 36 0. 19 UNIV 83045. 19 65642. 00 296812. 00 17507. 00 65444. 71 1. 76 5. 59 28. 74 0. 00 OPEN 33. 81 34. 35 38. 91 27. 72 3. 18 -0. 30 2. 19 1. 53 0. 47 RGDP 22879. 24 23859. 71 33820. 04 14033. 11 5756. 76 -0. 06 1. 86 1. 97 0. 37 CPI 56. 51 39. 7 3 149. 0 7. 40 41. 73 0. 67 2. 16 3. 77 0. 15 Mean Median Maximum Minimum Std. Dev. Skewness Kurtosis Jarque-Bera Probability Kurtosis is a measure whether the data set is peaked or flat relative to a normal distribution. Kurtosis statistic of the variables shows that only HCR and university enrollment is Leptokurtic (long tailed or high peakedness) and all other variables are Platykurtic (relatively narrower tailed then the normal curve. However the value of HCR is though high compared to the value of Meso-kurtic curve but it is not too high from the value desired for a normal distribution.The Jerque-Bera (JB) test of normality gives joint hypothesis of skewness and kurtosis. Jerque-Bera test of normality suggest that if the computed P-value of JB-statistic of university enrollment rate is sufficiently low as the value of the statistic is very different from zero, we state that the residuals for university enrollment rate is not normally distributed. For all other variables include d in the present study, it is concluded that residuals for these variables are normally distributed. Table 2: Correlation Matrix HCR 1. 00 -0. 35 -0. 37 -0. 28 -0. 30 -0. 9 -0. 53 -0. 27 LITR 1. 00 0. 99 0. 98 0. 84 0. 25 0. 97 0. 98 MIDDLE 1. 00 0. 99 0. 86 0. 28 0. 97 0. 98 PRIMARY UNIV OPEN RGDP CPI HCR LITR MIDDLE PRIMARY UNIV OPEN RGDP CPI 1. 00 0. 89 0. 20 0. 95 0. 99 1. 00 0. 18 0. 84 0. 91 1. 00 0. 39 0. 17 1. 00 0. 94 1. 00 The degree of the relationship of the variables is also estimated and reported in table 2. All the variables are negatively correlated with each other. The results state that openness is highly correlated and primary, middle, university enrollment rates and RGDP are moderately correlated with HCR. 138International Research Journal of Finance and Economics – Issue 52 (2010) b) Autoregressive Regression Analysis In our analysis, we have used a data set using time series ranging from 1973-2007. To investigate the significance of education (literacy) on the incidence of absolute Poverty, we have following autoregressive regression models. The robustness of the models is examined by including and excluding some important macroeconomic variables in our analysis. The model is given as below: The Poverty Autoregressive Regression Model- 1 LHCR = ? 0 + ? 1 LRGDP + ? LLITR + ? 3 LCPI + ? 4 LOPEN + ? 5 LHCR (? 1) + ? i Table 3 presents the estimation results in which head count index (HCI) is the dependent variable and the variables such as growth rate, literacy rate, consumer price index (CPI) and head count index (HCI) for the previous year are all explanatory variables in the present analysis. The value of adjusted Rsquared is 94. 5%, implying that 94. 6% of the variation in the dependent variable is explained by the independent variable. The value of R-squared clearly shows robustness of our results. The value of hstatistic is 1. 8, the results indicates that there is no significant autocorrelation problem in the error. The coeffic ient for growth verifies our theoretical expectations, implying an inverse relationship between poverty and growth. The coefficient for growth is highly significant putting an immense effect on poverty. The results verify the findings of Sarris who could find that overall economic growth reduces overall poverty. The coefficient for literacy is significant in the poverty regression analysis. However the variable is inversely related with the dependent variable which verifies the theoretical relationship of the two variables.The above results follow the findings of Dollar and Kraay (2002) who have concluded that growth is a prominent factor in eliminating poverty and that the impact of low level of educational attainment is not so much important. The coefficient of the consumer price index (CPI) having an expected theoretical sign, implies a positive relationship with poverty. However coefficient is not statistically highly significant. Our results also second the findings of Romer an d Romer who believed that an increase in inflation will be associated with a decline in the unemployment in the short run that may well relatively benefit the poor.The findings of Agenor (1998) also strengthen our faith on the outcome of our analysis implying the fact about the poverty rates to be positively related with inflation. The previous year’s poverty is highly significant with the incidence of poverty. The coefficient of the variable is keeping a postulated positive sign. The best justification of the result is given by the Ragner Nurkse who could observe that a â€Å"country is poor because it’s poor. † Although the theoretical expectations of our present study are fulfilled yet we have included some more important variables pertaining to the human capital.We have included primary, middle and university enrollment rates instead of the literacy rate in our model. In order to check the impact of globalization on the incidence of poverty, we have included the trade openness in our analysis. The coefficient of openness is negative and insignificant. Table 3: Estimates of the Model-I Coefficient 5. 77051 -0. 62553 0. 512801 0. 004567 -0. 123046 0. 713883 0. 94 0. 93 1. 58 Std. Error 2. 62493 0. 300753 0. 263391 0. 085448 0. 137595 0. 094954 t-Statistic 2. 198348 -2. 079882 1. 946923 0. 053446 -0. 89426 7. 518185 F-Stat Prob Prob. 0. 0361 0. 0465 0. 0613 0. 9577 0. 3785 0. 0 99. 93 0. 00 Variable C LLGDP LLITR LCPI LOPEN LHCR(-1) R Squared Adj R Squared h-Statistic International Research Journal of Finance and Economics – Issue 52 (2010) 139 The Poverty Autoregressive Regression Model-2 It is a vivid fact that a problem like poverty cannot be eradicated at all. Owing to the said fact study is intended to explore the answer of the question â€Å"Does education alleviate poverty? † To investigate the query, we have followed the regression model. We have developed the poverty regression model. Primary, middle and university enrollment rates as a proxy for education are used in our model.The model is given below: ? ? 0 + ? 1 LRGDP + ? 2 LPRIMARY + ? 3 LMIDDLE + ? 4 LUNIV + ? Poverty = ? ? ? ? 5 LCPI + ? 6 LOPEN + ? 7 LHCR(? 1) +  µ i ? Table 4 presents the estimation results for the poverty regression analysis where the dependent variable is the poverty had count index (HCI) and remaining seven variables namely log of real gross domestic product, log of primary school enrollment, log of middle school enrollment, log of university enrollment, log of consumer price index, log of openness and the log of head count ratio of the previous year are all independent variables.Note that the adjusted R-squared is 95. 9% implying that the approximately 95. 9% variation in the dependent variable is explained by the independent variables. The coefficient for LRGDP is keeping a negative sign implying the inverse relationship of LRGDP with the incidence of poverty. The theoretical relationship of LRGDP and LHCR also supports the negative relationship of these two variables. But the coefficient for LRGDP is statistically insignificant pervading a little effect on the incidence of poverty.The coefficient for log of primary enrollment rate and log of middle enrollment rate both keep a positive relationship with the incidence of poverty implying that both the standards minutely aggravate the incidence of poverty. The coefficients for both the levels are statistically insignificant which shows lesser nuisance value of primary and middle standards of education. The results also match with the findings of Rodriguez K Smith (1994) and Coulombe and Mckay (1996) who believe that the likelihood of being poor is higher for the lower levels of education.The coefficient for the log of university enrollment rate is statistically highly significant in the poverty regression analysis as shown in the table 3. The variable is inversely related with the dependent variable which verifies the theoretical relationshi p of the two variables. The estimation results verify the findings of all those who believe in an effective role of human development of poverty alleviation. The estimation results stay in line with the findings of Tilak (1994) which emphasize on the role of education.The results also explain that higher education is one of the most powerful means to reduce poverty. Our results also match with the findings of King (2005) who has argued that the agenda of the millennium development goals for education cannot be achieved without giving right consideration to higher education. All the prominent approaches of development like the human capital approach, the basic need approach, the human development approach and the capability approach which recognize the inverse relation of education and human poverty stay in line with our results.The coefficient for inflation rate in the poverty regression analysis for log values has become significant statistically and it is positively related with t he poverty head count index. The postulated positive sign of inflation portrays the fact that inflation is regarded as more of a problem by the poor. The fact was also found by William Easterly and Stanlay Fischer (2001). According to them the rich are better able to protect themselves against, or benefit from; the effects of inflation then are the poor.The coefficient of openness is keeping a postulated negative sign, implying an inverse relationship between the incidence of poverty and openness. The estimation result shows that openness is powerfully influencing the poverty head count index as the coefficient of openness is found highly statistically significant. The results match with the findings of Derek H. C. Chen, Thilak Ranawera and Andriy Storozhuk who argue that high level of globalization, globalization would tend to increase poverty. The coefficient for the poverty of previous year is statistically highly significant, keeping a positive relationship with poverty. 40 Tabl e 4: International Research Journal of Finance and Economics – Issue 52 (2010) Estimates of the Model-2 Coefficient 3. 707976 -0. 205005 0. 060653 0. 042189 -0. 154165 0. 127132 -0. 186327 0. 796384 0. 96 0. 95 -1. 68 Std. Error 1. 937434 0. 246698 0. 1637 0. 190211 0. 04069 0. 0777 0. 110726 0. 081578 t-Statistic 1. 913859 -0. 830995 0. 370514 0. 221801 -3. 788787 1. 63619 -1. 682781 9. 762301 F-Sat Prob Prob. 0. 0663 0. 4133 0. 7139 0. 8261 0. 0008 0. 1134 0. 1039 0. 00 114. 37 0. 00 Variable C LLGDP LPRIMAR LMIDDLE LUNI LCPI LOPEN LHCR(-1) R Squared Adj R Squared h StatisticV. Conclusion and Some Policy Recommendations In this paper, we addressed a key issue in the current debate on economic development: the role of education in poverty alleviation. We have reviewed the empirical evidence on the relationship between education and poverty. The link of education to poverty is one of the most important dimensions of policies towards poverty. Education may affect poverty in ma ny ways. It may raise the incomes of those with education. It may in addition, by promoting growth in the economy raise the incomes of those with given levels of education.To measure education we used, among others, the literacy rate, primary education level, middle education level and university education level as proxies for education. To measure poverty, we emphasized on the concept of absolute poverty, using the poverty headcount index and as a proxy for relative poverty. We have used the econometric techniques to sketch a few stylized facts in a very complex framework of relationship. The present study incorporates macroeconomic, structural and policy variables to poverty headcount index and education.More specifically, the poverty equation links the incidence of poverty to CPI, growth, literacy rate, primary school education, middle school education and university education level and openness. The said relationship thus enables the changes in poverty due to the changes in macr oeconomic or policy variables to be projected. The relationship is empirically estimated using time series regressions, based on thirty five years data of Pakistan from 1973 to 2007, which determined the magnitudes of the effects of the above mentioned macroeconomic, structural and policy variables on poverty.The results from the empirical analysis indicate that the university education significantly alleviates the incidence of absolute poverty. It is concluded that university education comes up with a powerful tool for poverty alleviation, keeping an inverse relationship with the dependent variable. As the higher education increases, the level of poverty decreases in the country. This result confirms the expectations that poverty is highly influenced by education. Local universities help developing countries in improving the skills of human capital which ultimately become helpful in poverty alleviating.University graduates have the specialized skills to earn a living and infuse the ir sector of employment- whether in the private industry, the public sector or civil society-with the enterprise that underpins success. Getting universal primary education, one of the millennium development goals, without the higher education would simply mean increasing the burden of unskilled population on the economy. Some people consider university education a luxury for developing countries. It is not a luxury, it is essential.Our estimation results confirm the best known approaches like the human capital approach, the basic needs approach, the human development approach and the Sen’s capabilities approach as all four approaches mainly emphasize on the attainment of education for economic development. Our estimation results carry an important policy implication-namely that the spread or the distribution of higher education among the population can have a powerful impact on their welfare. A household with no education among any of its members may benefit from even one me mber gaining access toInternational Research Journal of Finance and Economics – Issue 52 (2010) 141 education, beyond the immediate gains to that particular individual. And this is not only the case when an improvement in the education of the family’s children, but also it becomes the better and immediate source of earning opportunities for other members. Our empirical results confirm that education plays an effective role in poverty alleviation. Accordingly, a focus of economic policies on education in order to reduce poverty and to speed up development appears to be justified.Inflation also becomes the cause of poverty while trade openness reduces poverty significantly. Nevertheless, it is recommended that inflation controlled and trade opened policies will definitely and significantly address this issue of poverty alleviation in Pakistan. References [1] [2] [3] [4] Agenor, Pierre-Richard (1998). Stabilization policies, poverty and the Labour Market, Mimeo, IMF and W orld Bank. Amjad, Rashid, and Kemal, A. R. (1997). Macroeconomic policies and their impact on poverty alleviation in Pakistan. The Pakistan Development Review, 36(1), 39-68. Becker, Gary S. (1964).Human Capital. New York Colombia University Press for NBER Chen, Derek H. C. , Ranaweera, Thilak and Storozhuk, Andriy, (2004). The RMSM-X+P: A Minimal Poverty Module for the RMSM-X (May 11, 2004). World Bank Policy Research Working Paper No. 3304. Available at SSRN: http://ssrn. com/abstract=610349 Dollar D, Kraay A (2002). Growth is good for the poor. Journal of Economic Growth, 7,195-225. Irfan, Muhammad (2001). Global Trends on Education. The Oxfam Education Report (2001), Chapter 2. Jamal, H. (2003). Poverty and inequality during the adjustment decade: Empirical findings from household surveys.The Pakistan Development Review, 42(2), 125-136. Khan, Mosin (1990). Macroeconomic Policies and the Balance of Payments in Pakistan. 197286, IMF Working Paper /90 /78, Washington D. C. Malik, Mu hammad Hussain (1988). Some New Evidence on the Incidence of Poverty in Pakistan. The Pakistan Development Review, 27(4), 509-516. Marshall, Alfred. Principles of Economics. London: Macmillan 1890 (1st edition); (1920) (8th edition). Book VI, Ch. IV, 2, 3 and 4 (pp. 560—566); Chapter XI, 1 (pp. 660—661) and Chapter XII,  § 9 (pp. 681—684). Mincer, Jacob (1972). Schooling, Experience and Earnings.New York: NBER. Mincer, Jacob (1958). Investment in Human Capital and Personal Income Distribution. Journal of Political Economy, 66. Ministry of Finance Pakistan (2001). Combating Poverty in Pakistan, www. finance. gov. pk Pakistan Economic Survey (various Issues), Ministry of finance, Government of Pakistan, Islamabad. Romer, Christina and David Romer (1998). Monetary Policy and the Well-Being of the Poor. National Bureau of Economic Research Working Paper 6793, November Sarris, Alexender H. (2001). The Role of Economic Development and Poverty Reduction: An Empirical and Conceptual Foundation.University of Athens, Athens. Schultz, Theodore W. (1961). Education and Economic Growth. In N. B. Henry (Ed), social factor influencing education. Chicago: University of Chicago Press. Sen, Amartya (1999). Development as Freedom. New Delhi: Oxford University Press. Smith, Adam (1776). An Inquiry into the Nature and Causes of the Wealth of Nations. London. (First edition). London: George Rutledge & Sons. 1903. pp. 78-79. World Bank, World Development Indicators (WDI). (April 2008). ESDS International, (Mimas): University of Manchester. 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Mad About the Insanity Defense essays Today in our legal system, there are many questionable defense tactics. They are designed to protect the rights of the charged, and further the cause of justice. However, in many cases this betterment of justice has been taken too far, and thus pleas such as Temporary insanity are born. Indeed, as will be proven, the insanity defense in itself has been stretched nearly to its breaking point. The insanity defense will be critically examined, here, and proven in some cases necessary while others have no right using the plea. The history of the insanity defense goes back as far as government. Yet as Thomas Maeder stated in his book Crime and Madness, the Origins and Evolutions of the Insanity Defense, surprisingly enough, Throughout most of history there have been no specific criteria for exculpatory insanity(3). In ancient Hebrew times, as Maeder notes, the law simply states that idiots, lunatics, and children below a given age are not to be held criminally responsible (3). Indeed, in Ancient Greek and Roman cultures, nothing has survived to show any adaption to this exception, save a part of Platos Laws (3). Platos Laws says that if a defendant is senile, a child or proven insane he should be responsible for no more than the payment of civil damages, Except that if he has killed someone and his hands are polluted by murder he must depart to a place in another country and live there in exile for a year (Maeder 3). Furthermore, there are scarce traces of early insanity cases, thus it is difficult to make generalizations about the defense, yet there have been some noted cases where the defendant was sentenced to life in prison (Maeder 4). By the fifteenth century...If the defendant had committed the act, they had to convict; if he was insane, or a minor, or had killed in self-defense, they could recommend mercy... (Maeder 5)....

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Labor law - Essay Example In return, employers gained a loyal â€Å"internal labor market† of semi-trained workers that would save employers money required to recruit, and train. Beyond the implicit contract, unions were also successful in protecting against termination, requiring â€Å"just cause† instead of the more current employer flexibility of â€Å"at will† employment1. The ushering in of the boundaryless workplace has dismantled much of the New Deal labor structure, and has put a premium on individual skills and knowledge. Employees have become free agents in the workforce, needing such skills to compete for prevailing wages with no implicit or explicit guarantee of job security. The strongest protection workers now have is education and training. Stone also notes that those hurt the most by this instability are blue collar and untrained workers2. While the lack of security is tumultuous in itself, Stone argues that the current labor structure does not have answers for many of issues that the changing economy present. Using Stone’s method of chronicling historical changes in the employer-labor relationship, the trend towards a more flexible and boundaryless workforces has worked to improve opportunities for women and minorities. At the same time, however, she believes that, †the new employment relationship makes discrimination hard to identify and difficult to challenge3.† Successful attempts have been made to prevent overt discrimination such as Title VII, of the landmark 1964 Civil Rights law, the Age Discrimination Act of 1967, the Equal Pay Act of 1962, and the 1990 Americans with Disabilities Act4. This legislation is effective in allowing women and minorities to gain access to the points of entry into an internal labor market, however, due to the breakup of internal labor markets, these acts do not address more modern forms of discrimination. Modern forms of discrimination have become

Pricing and Distribution in Marketing Decisions Research Paper

Pricing and Distribution in Marketing Decisions - Research Paper Example In reference to Blue Mountain Coffee Company and Starbucks Coffee, pricing and distribution strategies will help them acquire these useful utilities for their efficient functioning. This paper aims at contrasting the pricing and distribution strategies of these two products. Though the two companies produce the same products, they are not competitors because they serve different markets. Pricing Strategies The worst mistake that can easily collapse a company lies in decision making that concerns pricing strategies. Wrong pricing decisions are almost a guarantee on damaging the company as well as eroding services tot the community and customers (Florissen, et. al, 2001). In many cases, manager’s cut-off prices so as to fend off new market rivals and then, they launch price wars that are full fledged hoping to compete attackers and hence emerging victorious. At any rate, this is just hope because reality is normally very different. For example, Blue Mountain Coffee Company that mainly specializes in exporting its products bases its decisions on pricing in reference to international market prices. In pricing, companies should take into account the competitor’s prices, cost to serve, switching rates, and customer value in order to ensure profitability. By evaluating these four factors, the two companies can make more reasonable decisions on their pricing decisions in increased competition faces. Instead of blindly undercutting attackers, the companies can safely charge commercial accounts and private customers a premium that will secure their business, do away with costly price wars, as well as preserve the market. To compete against its rivals, the company has established higher prices for its products because they are high in quality and hence, they have won consumer loyalty and captured a wide market in Japan. On the other hand, Starbucks Coffee, that mainly targets the local market, sets prices that will help it acquire a larger market share in th e local market than its competitors. Price reduction for its products is however profitable only in the short run but in the long run, they lead to heavy losses. Good pricing strategy should ensure that the company gets enough profits and is also able to meet its costs. Therefore, though price reduction is important in trying to capture the market or compete out rivals, such decisions should be carefully sought. As Bertini & Luc explains, reducing prices below the cost of production is very risky to the company as it can easily collapse the entire business. Cutting prices means that a company will have to work harder for less because you have to sell more units of the product for the same revenue. However, cutting prices only increases profits when you produce more units and increase sales (Bertini & Luc). Product Distribution Starbucks distributes its products to local consumers while Blue Mountain Coffee Company distributes its products to an international market in Japan. Anonymo us explains different modes of product distribution. For Starbucks Coffee, which distributes its products locally, the coffee can be sold to large scale wholesalers, who then sell it to Retailers. The retailers sell it directly to consumers or to small scale retailers who then sell it to consumers (Anonymous). However, the distribution mode for Blue Mountain Cof

FMC Corporation Essay Example | Topics and Well Written Essays - 1000 words

FMC Corporation - Essay Example In any situation where one unit handsomely starts scoring over another, a desire does emerge to replicate its success. Faced with an uphill task ahead, Kenneth Dailey has to negotiate a "change management" consensus with a disinterested, and possibly hostile Green River senior management. After all, it strikes them at their core; it's not easy to convince experience-laden people used to an authoritative style of functioning, to give up on their way of thinking and make a radical departure to an organic system where experience and position count less than skills and performance. nity to exercise his managerial acumen and insight, and see if he can inject the same degree of motivation and passion in the management and in the employees, that Jack Welch was able to when he took over the helm of General Electric in 1981, and brilliantly transformed it from a manufacturing company to the world's biggest service giant. ving change, possible sources of disagreement, and possible range of expectations employees may have in view of a change. No organization must be a one-man show; it is incumbent upon Dailey to brainstorm for the above pointers with everyone concerned, especially the influential senior management lobby without whose support it's difficult to undertake this ambitious makeover. Communications is the key to understanding what exactly ails the organization; all problems and detrimental factors must come to the fore before any tangible decisions are taken. It could be that finance and R&D department heads do not see eye-to-eye due to ideological misgivings, it could be that the purchase division has a tiff with suppliers hampering consistent growth, it could be that low wages has led to a low employee morale and hence, declined productivity. Whatever be the state-of-affairs, Dailey must seek everyone's involvement in seeking answers to tough questions. Like an able surgeon, he must be abl e to diagnose all areas where the company has failed its people, and vice versa. Only then can a remedial plan-of-action follow suit. The next step would be to integrate all the forward and backward functions of Green River in evolving a broad Aberdeen-like framework for corporate excellence. Und- erstandably, Aberdeen's open framework was not built in a day. In order to start from scratch, Dailey may

Pricing and Distribution in Marketing Decisions Research Paper

Pricing and Distribution in Marketing Decisions - Research Paper Example In reference to Blue Mountain Coffee Company and Starbucks Coffee, pricing and distribution strategies will help them acquire these useful utilities for their efficient functioning. This paper aims at contrasting the pricing and distribution strategies of these two products. Though the two companies produce the same products, they are not competitors because they serve different markets. Pricing Strategies The worst mistake that can easily collapse a company lies in decision making that concerns pricing strategies. Wrong pricing decisions are almost a guarantee on damaging the company as well as eroding services tot the community and customers (Florissen, et. al, 2001). In many cases, manager’s cut-off prices so as to fend off new market rivals and then, they launch price wars that are full fledged hoping to compete attackers and hence emerging victorious. At any rate, this is just hope because reality is normally very different. For example, Blue Mountain Coffee Company that mainly specializes in exporting its products bases its decisions on pricing in reference to international market prices. In pricing, companies should take into account the competitor’s prices, cost to serve, switching rates, and customer value in order to ensure profitability. By evaluating these four factors, the two companies can make more reasonable decisions on their pricing decisions in increased competition faces. Instead of blindly undercutting attackers, the companies can safely charge commercial accounts and private customers a premium that will secure their business, do away with costly price wars, as well as preserve the market. To compete against its rivals, the company has established higher prices for its products because they are high in quality and hence, they have won consumer loyalty and captured a wide market in Japan. On the other hand, Starbucks Coffee, that mainly targets the local market, sets prices that will help it acquire a larger market share in th e local market than its competitors. Price reduction for its products is however profitable only in the short run but in the long run, they lead to heavy losses. Good pricing strategy should ensure that the company gets enough profits and is also able to meet its costs. Therefore, though price reduction is important in trying to capture the market or compete out rivals, such decisions should be carefully sought. As Bertini & Luc explains, reducing prices below the cost of production is very risky to the company as it can easily collapse the entire business. Cutting prices means that a company will have to work harder for less because you have to sell more units of the product for the same revenue. However, cutting prices only increases profits when you produce more units and increase sales (Bertini & Luc). Product Distribution Starbucks distributes its products to local consumers while Blue Mountain Coffee Company distributes its products to an international market in Japan. Anonymo us explains different modes of product distribution. For Starbucks Coffee, which distributes its products locally, the coffee can be sold to large scale wholesalers, who then sell it to Retailers. The retailers sell it directly to consumers or to small scale retailers who then sell it to consumers (Anonymous). However, the distribution mode for Blue Mountain Cof

Quantitative Easing Essay Example | Topics and Well Written Essays - 1250 words

Quantitative Easing - Essay Example This act expands the excess reserves of banks and lowers the yield since the prices of the financial assets rise (Wieland & Research., 2009). Since this is a type of a monetary policy, it also includes expansionary and contractionary monetary policies. Expansionary policies include those in which the central bank purchases government bonds (short-term) in order to bring down the market interest rate. When interest rates are at zero and traditional monetary policy cannot be brought into play, quantitative easing is used to further boost the economy, and not only are short-term bonds purchased, but long-term bonds are purchased as well, and the yield would be most likely to increase. (Economist, 2005) This policy helps to keep inflation at the right percentage, neither too low nor too high. However, easing can become over-effective and result in deflation or be ineffective and lead to banks not lending out additional reserves (Economist, 2005). As aforementioned, the central bank imposes a monetary policy by a rise or fall in the interest rate. Then the interest rate target is also achieved by open market operations, which essentially involves the buying or selling of short-term government bonds from financial institutions including banks. The process involves the central bank lending out bonds, collecting the money from these bonds purchased, and this in turn changes the money supply in the economy and at the same time affects the price of government bonds, even though just the short-term ones. This entire process changes the interbank rates of interest (Fukasawa & Corporation, 2000). A liquidity trap occurs when the central bank cannot change the interest rate. Quantitative easing is then used to boost the economy without referring to the interest rate. The aim of quantitative easing is to affect the money supply and not the interest rate, which is impossible to reduce in any case. And this is referred to as a â€Å"last resort policy† in

Industrial regulation Essay Example for Free

Industrial regulation Essay Industrial regulation is government imposed regulation of an entire industry in order to monitor prices and products provided to the public. Industrial regulation exists to avoid overpricing, lack of competition and the overall taking advantage of consumers. The intended impact on the markets is to promote competition and economic efficiency. Industrial regulation also intends that monopolies and oligopolies do not control the entire market, charging high prices and providing fewer and inferior products, which in turn â€Å"harms consumers and society† (McConnell, Brue, Flynn et al, 2011, pg. 382). These regulations reduce the market power of monopolies, therefore allowing entry into the market by the competition which then allows for substitute products and price competition. It also reduces the power of oligopolies and increases market competition and prevents collusion. The antitrust laws also help anti competition and price fixing by not allowing monopolies to develop. Social Regulation is government imposed restrictions on corporate behavior to avoid unwanted behavior such as pollution or dangerous work situations. Social regulation exists to protect society by maintaining safer products, lessening pollution, improving work conditions and creating greater equality of economic opportunity, otherwise considered to improve our way of life. A vast majority of employers and also employees are affected by social regulation. Employers are required not to discriminate in hiring practices, allowing more opportunities to various groups of people including people with disabilities. Also, employers must provide safe working conditions as stating in OSHA (The Occupational Regulation 3 Safety and Health Administration). This is maintained by requiring employees to watch safety videos and practice safety procedures. To be compliant, employers are required to spend money on training materials, time and manpower enforcing anti-discrimination and safety protocols. Natural monopolies are entities that exist due to being more cost efficient and providing lower cost services or goods to consumers because of economies of scale. Due to the size of the entity, fixed costs spread over more units of output, leading to lower variable costs. One example would be our local utilities, where the single firm can provide the entire market supply of electricity therefore â€Å"competition is uneconomical† (McConnell, Brue, Flynn et al, 201, pg. 382.) Natural monopolies are formed by the government, naturally or by acquisitions. Natural monopolies should exist in some locales and industries because it would be cost efficient for the consumer. It was would not be efficient for a new electric company to come and spend a lot of capitol, creating new power lines, buildings, etc. and then charge higher costs to consumers to cover the initial cost. According to economic theory natural monopoly is optimal regulation, that is, how a firm regulates to produce and price optimally for consumers. D. Four major pieces of Antitrust Laws are: 1. The Sherman Act of 1890 which lays out two ideas. First, any trust, conspiracy, or restraint in trade or commerce is declared illegal. Second, anyone found guilty of monopolizing shall be found guilty of a felony. This act is designed to curb monopolization and anti-competition. Regulation 4 2. The Clayton Act of 1914: Price discrimination is deemed illegal when it reduces competition and is based on costs differences. It also prohibits tying contracts, acquisition of stocks from competing corporations and directors of one corporation cannot be board member of a competing firm. 3. The Federal Trade Commission (FTC) Act of 1914: Has responsibility to enforce antitrust laws by investigating unfair competitive practices. The FTC can issue cease-and-desist orders when unfair methods of competition are found. 4. The Wheeler-Lea Act of 1938: Gives the FTC additional reasonability’s to protect the public from false advertising, established the FTC as an independent agency and made unfair and deceptive sales practices illegal. 5. Celler-Kefauver Act: Amended the Clayton Act by prohibiting anti-competitive mergers by acquiring the competitions stock. Previously purchasing a firm’s physical assets was a way to acquire a competitive firm. E. Three Industr ial Regulatory Commissions are: 1. The Federal Energy Regulatory Commission which regulates the transmission of natural gas, oil and electricity, including the wholesale sale of electricity and gas. The FERC reviews mergers and acquisitions by electric companies, regulates the sale of wholesale electricity and gas, regulates the transportation of oil by pipeline, approves applications for interstate natural gas pipeline and storage facilities. The FERC also licenses and inspects hydroelectric projects. 2. The Federal Communications Commission regulates interstates and international communications by radio, television, wire, satellite and cable. The FCC processes Regulation 5 applications for licensing and filings, analyzes complaints and conducts investigations against the Communications Act of 1934. It also develops and implements regulatory programs and educates and informs consumers about telecommunication goods and services. 3. State Public Utility Commission which regulates the public utilities by state ensures fair, just and reasonable rates. The CPUC develops and implements policies to promote competition in communications division, represents the commission before the United State Congress and federal agencies. It also provides information and assistance to the general public. One division oversees the safety of electric and communication facilities. F. Five main federal regulatory commissions are: 1. The Food and Drug Administration which protects public health by assuring safety of drugs, vaccines, medical devices, cosmetics and food. They intend to lessen the risk of unsafe products for everyone. 2. The Equal Opportunity Commission enforces laws making it illegal to discriminate and applies to all hiring, firing, promotions, harassment, training, wages and benefits. This allows everyone a fair chance at employment. 3. The Occupational Safety and Health Administration assure safe and healthy working conditions for all men and women and were created to improve working conditions. 4. The Environmental Protection Agency protects the air, water and noise pollution and was created to protect the environment and therefore human health. 5. The Consumer Products Safety Commission ensures the safety of consumer products by helping protect consumers from the risks of product incidents. Regulation 6 REFERENCES McConnell, C., Brue, S., Flynn, S., et al, S. (2011).Economics. (19e ed.). New York: McGraw-Hill%2FIrwin.

Dickens Criticism of the 1834 Poor Law in Oliver Twist Essay -- Charl

Dickens' Criticism of the 1834 Poor Law in Oliver Twist Dickens criticised the 1834 poor law in many different ways within the first five chapters. He does this firstly by cleverly portraying the Victorians attitudes towards the poor. He does this in chapter 1 by referring to Oliver as 'the item of mortality' suggesting how lowly his position in society is. Also the difficulty of Oliver's birth and the fact his mother dies, gives us some idea of the dangers of child birth in Victorian society and the amount of negligence his mother receives from the surgeon. Another way he shows the attitudes towards the poor is by describing the unfeeling and clearly drunk nurse who was 'tasting in the corner' instead of taking care of Oliver and his dying mother. Dickens characterisation is another form of criticism he gives the poor law. He gives the characters names which reflect the type of person they are and the lives they lead. He does this very well in chapters two and three where he describes Mrs Mann. He describes her as nothing but a common thief that steels money from...

Nathaniel Hawthornes My Kinsman, Major Molineux as an Allegory Essay

Nathaniel Hawthorne's My Kinsman, Major Molineux as an Allegory â€Å"May not one man have several voices, Robin, as well as two complexions?† (1261), asks the friendly gentleman in Nathaniel Hawthorne’s short story â€Å"My Kinsman, Major Molineux.† Just as one man may have multiple facets, so too may a story, if we correctly interpret samples of Hawthorne’s work. It seems as though modern readers practically assume that his work ought to be read allegorically, and indeed, The Scarlet Letter, and many other famous works of Hawthorne, are brilliant allegories if they are interpreted as such. And yet, Nathaniel Hawthorne, more than a religious zealot or political advocate, was an avid student of colonial history. We read in the Norton Anthology’s brief biography of Hawthorne that, â€Å"[Hawthorne] was steeping himself in colonial history more than the political issues of his time† (1248). Becoming more familiar with the history of his young nation, he even published â€Å"a child’s history of colo nial and revolutionary New England† (1249). This being as it is, it would do Hawthorne’s short stories a great injustice to dismiss their merit as historical commentaries. Obviously, Hawthorne’s works are multifaceted, and one must determine how to best read and interpret them. Can the reader of Hawthorne’s short story â€Å"My Kinsman, Major Molineux† interpret this work as an allegory, and if he does, what does the story lose in terms of its historical merit? In many ways, â€Å"My Kinsman, Major Molineux† lends itself to an allegorical reading. One interpretation may be that the work is more of a bildungsroman than a true allegory. Understanding â€Å"My Kinsman, Major Molineux† as such, the reader sees Robin as a simple country youth, endeavoring first to throw... ...eristics of an allegory, it is now apparent that the work contains more dimensions. The reader need not categorize this story, either as an allegory or as an historical commentary. Indeed, there being evidence to support both interpretations, to do so would be a mistake. Allegorically, the story warns the reader that once one enters Hell, he is destined to participate in it forever. Historically, it paints an uniquely sympathetic portrait of British loyalists and their persecution at the hands of colonial patriots. In both respects, Hawthorne’s work has merit. Thus, in answer to the question previously posed, the reader is justified in interpreting â€Å"My Kinsman, Major Molineux† as an allegorical work. However, he is not justified in dismissing its historical virtues. Hawthorne’s story can and should be read carefully, with the reader appreciating its many dimensions.

Prison Term Policy Recommendation Essay

Abstract The purpose of this paper is to advise members of the state legislature with recommendations for new prison term policies to double the maximum prison term for any individual convicted of armed robbery. Although the state legislature concedes the bill is popular the concern is whether the bill will deter arm robberies. Prison Term Policy Recommendation In a few days the state legislature will be voting on a new bill to determine if the maximum prison term for anyone convicted of armed robbery should affect anyone convicted of armed robbery be given a double maximum sentence. However, the effectiveness of double prison sentences as deterrence to first time and re-offenders is quite difficult to estimate. Many states define robbery as larceny or theft of money or property through the use of intimidation, physical force, or violence against a victim by the offender(s). When a weapon is used or the victim suffers injury, whereby the offender may be charged as aggravated or armed robbery. Robbery is differentiated between armed robbery that involves the use of some type of weapon, and aggravated robbery that involves the use of a deadly weapon. Armed robbery is one of the most committed crimes in the United States that concerns legislatures, the entire criminal justice system, and society. All states punish armed robbery as a major or capital offense, whereas sentencing depending on many factors such as state laws and procedures, prior criminal history, whether there are any sentencing improvements, or whether the state has a diversion program. For example a person (victim) is walking down the street a man (the robber) approaches and ask for the time when the victim looks at his watch and looks back up the robber has a gun in the victims face demanding money if the victim fails to give the robber his or her money the robber may shoot or hit the victim with the gun to obtain the money. In the early 1990s, legislation of many states (with the exception of Michigan) enacted mandatory sentencing for repeat offenders. These laws became known as the three strikes laws, were invoked when an offender committed his or her third offense. The three strike law requires the courts to hand down an extended mandatory sentence of confinement. The belief behind the three strikes law was to target repeat or career offenders who repeatedly commit felonies posing a serious threat to society. Under the new law by 2001 California had more than 50,000 offenders sentenced than any other state with one fourth facing a minimum of 25 years in prison. Although critics, maintained that these sentences are disproportionate to the crime perpetrated and would increase correctional costs, in March 2003 the United States Supreme Court rejected the argument of cruel and unusual punishment and upheld the three strikes laws. Michigan’s prisons population since 1973 has grown 474% faster than other states. In 1998 the Michigan legislatures enacted the Truth-in-Sentencing law, to be tougher on crime. During this time the violent crime rate in Michigan did not decrease and has continued to grow, and has spent more on correctional facilities than any of its surrounding states.