Wednesday, July 31, 2019
Multinational Perspective Essay
Multinational corporations originated from the need for substantial capital and limited risks for large industrial or commercial consortiums for overseas trade. The modern concept of multinational corporations came into being during the 17th and 18th centuries and a good example of such a venture is the British East India Company in South Asia and the Dutch East India Company in South East Asia’s Indo-Chinese Peninsula. With the current communications and management technologies available, more companies are able to make the most out of international trade liberalization.  Today, multinational corporations are expanding themselves to increase their markets, increase brand presence and image and benefit from inexpensive raw materials and labor (Chang, 2003). Scenario for Multinational Corporations Currently, there is an estimated 40,000 multinational corporation’s world wide in and approximately 250,000 overseas collaborations running cross-continental operations. Most multinational corporations are from the United States, Western Europe, and Japan. By 1995, the top 200 multinational corporations alone had collective revenues reaching of $7.1 Trillion which is equivalent to 28.3 percent of the gross domestic product globally (Bernal, Kaukab, and Yu, 2005). The operations of multinational corporations are governed by the policies of The World Trade Organization (WTO), the International Monetary Fund (IMF), and the World Bank. Though the traditional view of multinational corporations is that of big manufacturers, current trends and developments in technology have also given rise to â€Å"micro-multinationals†[1] as well business process outsourcing (BPO) ventures (Ewing, 2005). Among the countries being targeted for multination expansion, China and India are the current top favorites of multinational companies (McKinsey Global Institute [MGI], 2004). Globalization has allowed access to markets via technology and has reduced distribution, lower internal coordination costs. It has also allowed for networking of specialized services and products in support of corporate functions through BPO’s whether within the companies internal operations or its external activities (Ewing, 2005). Entry to Developing Markets            Though the scenario of multinational expansion has changed, the methods of entry remain traditional in most developing countries (Hoos, 2000; Tubbs and Schulz, 2006). Strategies to enter new markets for multinational corporations are by mergers or direct acquisition, sequential market entry and through joint ventures Mergers            Merger or direct acquisition of existing companies is the forthright entry to a market. This is the strategy usually employed by large multinational corporations. It maximizes the economies of scale advantage to overcome barriers to entry (Ewing, 2005; Multinational Corporations, 2006). Considered as foreign direct investments (FDI), they are subject to not only commercial regulation but are also direct affected by fiscal and investment policies by the host country, and related international trade policies (United Nations Conference on Trade and Development [UNCTAD], 2005). Beginning in 2004, it has been identified as a critical in developing countries and studies have been commissioned to quantify their impact of the economies of developing countries (UNCTAD, 2004). The first ranked for FDI is India and was followed closely by China (Kearney, 2004). Though India has been able to outrank China and Mexico, China actually acquires more FDI significantly either country since 2002 (Department of Industrial Policy and Promotion, 2005; MGI, 2004). Sequential Market Entry Sequential market entry involves foreign direct investment and getting hold of a sector if the market related to the parent’s companies core line of business, usually its key product or competency. It is different from a merger that it that the parent company does not bring in all of products, services or operations into a host country (Multinational Corporations, 2006). This method is the preferred by smaller companies and conservative business to begin their multinational operations (Kearney, 2004). Sony, in its initial expansion to the United States first limited its operations to manufacturing televisions but eventually expanded its operations to the production of magnetic tape and eventually to the production of audio in the 1970’s. Today, Sony’s operations in the United States include semiconductors and personal communications. Sony’s United States operation used its expertise and leadership in manufacturing television to establish itself in the industry and its local competition and then used this it as leverage to expand its products in the United States (Multinational Corporations, 2006). Another development in multinational operations is that outsourcing of operations or services to other countries. According to both UNCTAD 2004 and 2005 reports, BPO is one of fastest growing industries globally. Joint Ventures            Joint ventures are operational or service partnerships with companies already existing or operating in the host country. This method of entry is limits is not as liberal as mergers or sequential market entry but is effective when entering heavily regulated markets. The method has been in particular use in entering the markets of China, the Soviet Union and that of Eastern Europe (Multinational Corporations, 2006). The issue of limited control for parent companies is the usually critique of this method and has raised issues regarding liberalization issues (Bernal, Kaukab, and Yu, 2005). Host countries and venture partners significantly benefit from the transfer of technology and management while parent companies are able to enter otherwise restrictive market. The concern for multinational companies however is the development of conflicts with joint venture partners who can become competitors (Multinational Corporations, 2006). Another concern for most multinational corporations regarding entering into joint ventures is that local policies, which their joint venture partners are subject to, are easily changeable. The creation of stable industry policies that may affect joint ventures and similar partnerships is one of the major focuses of developing countries trying to attract more investments (Department of Industrial Policy and Promotion, 2005). This move has been supported by the current agenda of the World Trade Organization (WTO), the International Monetary Fund (IMF), the World Bank and the United Nations (UNCTAD, 2004). Multinational Corporations in Developing Countries            Entering into s developing market requires the recognition and creation of strategies to deal with poor economic conditions, low educational levels, technological barriers or lack of existing channels and infrastructures for the distribution of the product and service (UNCTAD, 2005). Globalization and Trade Liberalization            A major reason for multinational expansion is accessing a wider market. This coincides with the international agenda of globalization and trade liberalization. The Asian Financial Crisis may still be a haunting scenario for many investors (Bernal, Kaukab, and Yu, 2005), but the current trends in Asia, particularly China and India, is creating renewed interest in expanding to developing countries (MGI, 2004).            The efforts of developing countries to liberalize trade and industries have also been encouraging. Recent trends have allowed the return of Coca-Cola to India (Nayak, 2006), the ranking of Asia as the most attractive FDI region (Kearney, 2006) and the growing success on BPO’s in India and the Philippines (UNCTAD, 2005).            The operations of multinational corporations have been constructive in the development of markets, the introduction of new products and the development of industries as a whole. Investments of these companies have helped stressed local economies space and opportunity to expand. The technology and management knowledge that multinational companies bring in has helped local research and development to improve standard practices and policies.            Multinational companies have been able to benefit from reduced labor, materials or overall operation costs. A significant benefit of going global is establishing brand and product presence. Many companies have also benefited from the variated market that globalization has provided them increasing product efficiency and marketability. Global Trend and Scenario            Though multinational corporations significantly contribute to international trade and development have not enjoyed acclaim. Their presence and nature if operations is said to be more detrimental to local economies than beneficial (Baitu, 2006; Tubbs and Schulz, 2006, Chang, 2003). Studies have also shown the negative effects of the operation of multinational corporations prompted some governments to take a protectionist approach which ahs deterred not only these corporations but trade liberalization in general (Wysocki, 2006).            According to the UNCTAD report regarding multinational corporations in least developed countries (UNCTAD, 2002), the â€Å"highly centralized nature of these corporations†is the main apprehension against them. Though multinational corporations contribute significantly to local economies in the form of investment, technology and commerce, there is very little barrier to exit from the local industry in case of a national economic downturn (Hoos, 2000). They have been said to have contributed to the aggravation of labor conditions, environmental degradation, and degeneration of social conditions, declined local industries and livelihood, and raised inflation levels (Tubbs and Schulz, 2006).            Furthermore, the mobility of multinational corporations leaves host countries with less bargaining power and allows them significant leverage over countries that are highly disadvantaged and needy of the jobs and investment they provide (UNCTAD, 2002). Current Issues and Concerns for Multinational Operations            In an international environment, a company’s concerns will have to consider more external factors. International trade laws, liberalization and globalization are the obvious concerns that emerging multinational have to face. More importantly, companies have to orient themselves to local markets, governments and policies that may they may not be familiar with (Wysocki, 2006). Exploring international markets also increases competition not just with traditional competitors but also for new business developments such as micro-multinationals (Ewing, 2005). The risks and challenges of becoming a multinational company need strategies that consider the company’s goals, international market scenarios and effective local marketing approaches. Recommendations In general, there should be further quantitative and qualitative studies on multinational corporations’ actual impact to host countries from individual to industry levels especially for the least developed countries that host them (UNCTAD, 2002). Multinational companies nowadays are not just commercial ventures; they also serve as highways of liberalization. Some multinational companies have greater assets than the poorest of developing countries leaving these nations with limited bargaining power. The need to attract investments by multinational companies must not undermine the focus on welfare, health and social life (Baitu, 2006). The following considerations are framed UNDTAD’s World Investment Report for 2004 and 2005, the 2002 Report Multinational Corporations in Least Developed Countries; and Bernal, Kaukab and Yu’s The World Development Report 2005 for the WTO:            Host countries must focus on creating industry competencies that do not just cater to the current needs of multinational companies operating in the country. Developing countries must not become dependent on multinational companies and focus on boosting domestic growth.            Developing countries should be liberally cautious in accepting FDI to the country so as to ensure the survival of its local industries. It should not take a protectionist approach creating false security in its local industries but only to alleviate the pressures of advantage that multinationals have by reasons of economies of scale.            Closer coordination with trade associations and international liberalization agencies will allows for developing countries support and knowledge in dealing with multinational corporations. At the same time, multinational corporations can benefit form the standardization of commerce and industry, decreasing speculation and uncertainty for their ventures.            Consideration of social issues can help multinational companies have a better local feel for the host country’s markets. Pubic relations in smaller countries become crucial in building brand and product awareness, purchase and loyalty. It also allows for the feasibility of introducing product extensions and even non-related ventures.            Involving multinational corporations in the host country’s environment, community, research and development can establish a more meaningful relationship. Multinational corporations can benefit form having greater involvement in factors that affect its operations. Fears of multinational corporations being insensitive to local concerns can also be alleviated. Conclusion            Multinational expansion is but one of the key indications of globalization. Liberalization signifies a country’s acceptance of globalization. Together, multinational corporations and liberalization act as vehicles for development and cooperation.            As in all relationships, work must be put in to make it work. Multinationals grow when local economies grow through the development of labor, resources and market expansion. Host countries benefit from the investment, technology transfer and the development of its emerging industries. New multinational companies in particular could prosper and establish themselves well in developing economies where competition may not as stiff and industries not as crowded as they would be in developed countries.            The key is in finding a balance between multinational investment and local industry growth and in creating  a relationship between multinational corporations and host countries that are based on mutual development.    References Baitu, J. (2006) Globalisation for the Common Good and Social Justice in Sub-Saharan Africa [Online]. Available from [Accessed 12 September 2006]. Bergsten, C. F. (2000) The Global Trading System and the Developing Countries in 2000 [Online]. Working Paper 99-6 Institute for International Economics. Available from [Accessed 12 September 2006]. Bernal, L. E., Kaukab, R. S., and Yu, V. P. B. III (2005).The World Development Report 2005: An Unbalanced Message on Investment Liberalization. WTO Institutional Governance and Dispute Settlement, of the Trade and Development Programme: Geneva, Switzerland. Brown, A. G. and Stern, R. M. (2005) Concepts of Fairness in the Global Trading System. Gerald R. Ford School of Public Policy, The University of Michigan: Michigan, USA. Chang, H. (2003) Foreign Investment Regulation in Historical Perspective: Lessons for the Proposed WTO Investment Agreement [Online]. Available from: [Accessed 12 September 2006]. Department of Industrial Policy and Promotion (2005) Foreign Direct Investment-Policy & Procedures. New Delhi: Government of India. Available from: [Accessed 12 September 2006]. Ewing, R. (2005) The New Multinational: Lilliputian, Not Leviathan [Online]. Speaking Freely – Asia Times Online. Available from: [Accessed 12 September 2006]. Hoos, J. (2000) Globalization, Multinational Corporations and Economics. Kiado: Budapest. Kearney, A.T. (2004) China and India Jockey for the Top Most Attractive Foreign Direct Investment Destination Globally While the U.S. Is Challenged by These Rapidly Evolving Economies: Global executives see the best business environment since 2000, yet a return to positive global FDI flows could be complicated by a new mix of operational risksâ€Å". A.T. Kearney: London, United Kingdom. Nayak , A. K. J. R. (2006) Globalization of Foreign Direct Investment in India: 1900s–2000 [online]. Available from [Accessed 12 September 2006]. McKinsey Global Institute (2004). China and India: The Race to Growth [Online]. McKinsey Quarterly . Available from [Accessed 12 September 2006]. Multinational Corporations (2006) Encyclopedia of Management, Volume Mar-No. Available from [Accessed 12 September 2006]. Tubbs, S. L. and Schulz, E. (2006) Exploring a Taxonomy of Global Leadership Competencies and Meta-competencies. The Journal of American Academy of Business, Volume 8, Number 2, March 2006, Dissertation Paper presented at the Eastern Michigan University. Eastern Michigan University: Michigan. United Nations Conference on Trade and Development (2002) Multinational Corporations (MNCs) in Least Developed Countries (LDC’s). United Nations Conference on Trade and Development (2004) World Investment Report 2004. United Nations Conference on Trade and Development (2005) World Investment Report 2005. Wysocki, B. Jr.(2006) Symbol Over Substance [Online]. Original Article printed in The Wall Street Journal, September 25, 2000. Available from [Accessed 12 September 2006]. [1] Micro-multinational are companies who have small manpower and overall scale unlike the traditional multinational corporations. An example is Navin Communications who have engineering operations in Mumbai, India and headquarters in Mountain View, California (Multinational Corporations, 2006).
Tuesday, July 30, 2019
Political Risks in International Marketing
Assessing the political environment is an important part in any business decision. Laws and regulations passed by either local, regional and central government bodies can affect foreign firms' operations. Also, firms are comfortable assessing the political climates in their home countries. However, assessing the political climates in other countries is still problematic. Classification and description of political risks When doing international business, the manager may face several types of financial risks.The major types of financial risks are commercial risks, political risks, exchange rate risks, and other such as inflation-related risks. Thus, political risks are non commercial risks. Political risks are any changes in the political environment that may adversely affect the value of a firm's business activities. Political risks may occur in any nation, but the risks vary considerably between countries. We may distinguish two types of classification of political risks. A classifi cation based on the characteristic of political risks and a classification or categorization based on the local government actions or control.Classification based on the characteristics of political risks Characteristics refer to as the facts that are inherent to each political risk. In other terms, their uniqueness or what make them different from one another. There are three types of such characteristics: ownership risks, operating risks, and transfer risks. Ownership risk In which the property of the firm is threatened through expropriation, confiscation or domestication. Ownership risk exposes property and life. The triad will be explained in the second classification. Operating risk In which there is interference with the firm operations.The ongoing operations of the and/or the safety of its employees are threatened through changes in laws, environmental standards, tax codes, terrorism, armed insurrection or wars, and so forth. Transfer risk In which the government interf eres with a firm's ability to shift funds into and out of the country. Classification based host country actions We can distinguish two types: political risks out of the government control and political risk induced by the government. Political risks out of government control. There are risks or events arise from nongovernmental actions, factors that are outside the government responsibility.There are wars, revolution, coup d'etat, terrorism, strikes, extortion, and kidnappings. They all derived from some unstable social situation, with population frustration and intolerance. All these risks can generate violence, directed towards firms' property and employees. We may also have the case of externally induced financial constraints and externally imposed limits on imports or exports, especially in case of embargoes or any economic sanctions against the host country. Political risks induced by the government These risks constitute some laws directed against foreign firms. Some go vernment-induced risks are very drastic.There are expropriation, confiscation and domestication. Expropriation is the seizure of foreign assets by a government with payment of compensation to the owners. In other terms, it is involuntary transfer of property, with compensation, from a privately owned firm to a host country government. Expropriation may generate some funds for the owners. However, procedures to get paid from the government are sometimes protracted and the final amount remains low. Furthermore, if no compensation is paid, conflicts may erupt between the host country and the country of the expropriated firm.For instance, the relations between U. S. and Cuba acknowledge such situation, since Cuba does not offer compensation to U. S. firms that have their assets sized. 3(*) Also, expropriation can refrain other companies from investing in the concerned country. Confiscation is another type of ownership risk similar to expropriation, except compensation. It is in voluntary transfer of property, no compensation, from a privately owned firm to a host country government. In confiscation, firms do not receive any funds from government. Thereby, it represents a more risky situation for foreign firms.Some industries are more vulnerable to confiscation than others because of their importance to the host countries and their lack of ability to shift operations. Sectors such as mining, energy, public utilities, and banking have been targets of such government actions. Domestication offers to governments a subtle control over the foreign investments. There is a partial ownership transfer and companies are urged to prioritize local production and to retain a large share of the profit within the country. Domestication can negatively impact the international marketer activities, as well as that of the entire firm.For example, if foreign companies are forced to hire nationals as managers, poor cooperation and communication can result. If domestication w as imposed within a short time span, poorly trained and inexperienced local managers would head the firm operations with possible lost of profits. Other government actions-related risks are less dangerous but more common such as boycott, sabotage. When facing shortage of foreign currency, government, sometimes, attempts to control the movement of capital in and out of the country. Often, exchange controls are levied selectively against certain products or companies.Exchange controls limit importation of goods so that firms might be confronted with difficulties in their regular transactions. Severe restrictions on import can be a motive for foreign corporate to shut down. Governments may also raise the tax rate applied to foreign investors in order to control them and their capital. Government may implement a price control system. Such control uses to derive from a sensitive political situation. For example, social pressure may result in a kind of price standa rdization for particular sectors like food, transportation, fuel, and healthcare.Political risks like arms conflicts, insurrection may affect all firms in the country equally. For that reason they are called macro political risks. Unlike, nationalization, strikes, expropriation may affect only a handful and specific firm, they are named micro political risks. Impact of some political risks Some negative effects of political risks on firm are summarized in the following table. Table 1. Holistic table summarizing the major political risks and their effects on firms TYPES| IMPACT ON FIRMS| Expropriation| Loss of future profits| | | Confiscation| Loss of assets| Loss of future profits| | | Campaigns against foreign goods| Loss of sales| | Increased costs of public relations efforts to improve public image| | | Mandatory labor benefits legislation| Increased operating costs| | | Kidnappings, terrorists threats, and other forms of violence| Disrupted production| | Increased security costs| | Increased managerial costs| | Lower productivity| | | Civil wars| Destruction of property| | Lost sales| | Disruption of production| | Increased security costs| | Lower productivity| | | Inflation| Higher operating costs| | Repatriation| Inability to transfer funds freely| | | Currency devaluations| Reduced value of repatriated earnings| | | Increased taxation| Lower after-tax profits| | | Source, Ricky W. Griffin, International business, 2005, page 73 In long run, and depending on the severity of the risks, action taken by government may decrease income and be detrimental to the host country economy. Strong political risks that are deeply rooted in the country governance habit might be barriers to foreign investment and country prosperity. What is going on in West Africa?
Monday, July 29, 2019
One Way ANOVA Involves Comparison of Two or More Populetion Means Research Paper
One Way ANOVA Involves Comparison of Two or More Populetion Means - Research Paper Example This sample will be a good one since it will be easier to administer the survey to the 50 employees as compared to the whole population. In addition, by using simple random sampling we will reduce the degree of biasness in the data that we will collect. In our survey, we will use an anonymous questionnaire in which the employees will not be required to provide their personal details like names or employees numbers. Moreover, the questionnaires will be distributed to the respondent by a group of interviewers who will collect them later in the evening. This will not only help in promoting the truthfulness of our data but also the confidentiality and privacy of the respondents.Since the survey will be anonymous there will be no need for individual’s consent. The data we will be aiming to obtain using the questionnaire will not include any form of personal sensitive data. The benefits that respondents will gain from the survey is that the information obtained will be handed over t o the business management team that can use it in determining which kind of incentive to use to motivate them. To protect the interests of my respondents, I decided to use a self-administered questionnaire thus the information obtained by the questionnaire would not be traced to a specific employee. Moreover, I will use people who are not affiliated in any form with the management of the business to distribute and collect the questionnaires. A day or two before the actual date of the survey, I will write an email to all the employees in that business requesting them to participate in the survey if selected for our sample. These pre-message will be dear sir/ madam, two days from now I will distribute some questionnaires to some of you who will be randomly selected for the survey that I have created. The survey relates to a research that I am conducting to determine what motivates employees to work harder. I realize that you might be selected for our sample since the selection will be fully random. Please take a few minutes of your time to complete the questionnaire that will be distributed to you. The questionnaire will be anonymous and less than for pages and thus it will not take much of your time, thank you. I will also send them a post email a day or two after the actual survey date. This message will be a thank you note for helping me in my research by participating in the survey I undertook in your place of work. Any kind of information you volunteered to give will be held with the highest degree of confidentiality and will only be used for this research only, Regards. Our first hypothesis is that motivational program or incentive schemes are effective in improving employees’ performance. In this case, we will have one variable, which will be the number of employees. This variable will be measured in two categories; one category will be those employees who think they are motivated by motivational programs and incentive schemes while the other categ ory will be those who think otherwise. This variable is measuredon an interval basis and it is a numerical variable. This variable will be analyzed using one way ANOVA which can be done using SPSS do determine the categories which carry more weight. â€Å"One way ANOVA involves comparison of two or more population
Sunday, July 28, 2019
Project Modelling and Decision Methods Essay Example | Topics and Well Written Essays - 1500 words
Project Modelling and Decision Methods - Essay Example The approach is primarily to evaluate property realistically of a specific location. In this exercise, we capture the trends in the past, make relevant assumptions of the future, address some challenges that can be foreseen and arrive at a conclusion. The simulation and the spread sheet model rationalize the decision and support the analysis to strengthen the reasoning behind potential investments and an assessment of the associated risks, if any. This paper applies structural methodology to estimating and forecasting the Central London office market. We assemble a time series covering for over a decade and estimate equations for net space absorption, movements in rents, and new building orders and other facilities along with new flourishing businesses. We also estimate a typical supply and demand relationship that yields a dynamically stable system. A spreadsheet model is an effective instrument for quantitative estimates based on a specific framework. The excel sheet embedded in this article is an illustrative version for capturing similar data for any property identified with required criteria in the prime location of Central London. While it a conscious decision not to engage in advanced computerization as it is not a pre-requisite, but ideally one of the outcomes of good asset management. The spreadsheet model suggested here is a methodological tool for understanding and improving the assessor's ability to consider all factors in Real Estate Project Modeling and deriving decisions accordingly which will also facilitate the process of financial planning and expectations. The logic of the framework and the attached spreadsheet model is fairly simple and follows the approach tested and used by Project owners. At the very outset, we should make quantified entry assumptions about parameters that define the total cost of office p roperty in Central Location. The model calculates the estimated cost and the anticipated returns. The key assumptions cover the following: Various costs per unit (such as land acquisition price per square feet, construction cost per square feet, costs of various furniture pieces, etc.) Space needed for Office Equipment and furniture required Costs of each component (Furniture, Total capital cost (land, building, equipment/furniture) For all the apparent simplicity of this framework, it still establishes a clear hierarchy of parameters: thus, the area of the location (i) Prevailing rate per square feet area and (ii) space utilization 3. Assess Investment The whole exercise is primarily to assess investment and every smart investment provides long-term capital appreciation and immediate, consistent rental yields however while modeling the project we need to have all the facts at our disposal. The prevailing rates of property based on the location chosen Establishment costs will always be significant, with stamp duty, legal and surveying fees and related costs
Saturday, July 27, 2019
Interoperability Assignment Example | Topics and Well Written Essays - 500 words
Interoperability - Assignment Example Probably several nurses would lose their jobs because since one machine can do work for ten individuals. Therefore, it undervalues a national and international problem of unemployment by making nursing a course for machines. In addition, extra training of EMR technology would be necessary for this event. Provision of legal record for care is one of the matters that the scenario fails to elaborate clearly, since the scenario has proven to focus more on a nurse having a programmed device. However, it is reasonable to mention some shreds of legal record for care when certain mistakes such as losing or misplacing a patient’s file and failing to assure the safety and welfare of patients in a health center. Decision-making that is quick and accurate is one of the most important things in heath care in order to save a life during an emergency. The scenario presents a health environment with efficient and reliable information system. It also discusses a device that ensures receiving of calls from the nurse and allowing communication between internal and external parties – doctors, nurses, patients, and family members is complete. It is evident that the type of information is priceless and cases of neglect and death have been reported because doctors fail to make prompt decision-making. However, with interoperability in place, these statistics are bound to drop. It feels good to find out that the scenario achieves to please and get the support of many people. However, it has intentionally focused on the positive side of interoperability and automated health care record and done away with its shortcomings. The most noticeable one is that this scenario has failed to discuss financial obligations required in a health center. A correct speculation is that the procedure would cost a lot. The scenario highlights about activities in a hospital of discharging a patient and a well-structured transport team, which ensures that a patient is handed to their family. One
Accounting Information Systems and Control Issues Essay
Accounting Information Systems and Control Issues - Essay Example A Control Manager warrants efficient and effective exploitation of resources in an organisation so that the planned goals are achieved. It seeks to measure the divergence of actual productivity from the benchmark performance and analyses the causes of the divergence if any and renders measures to take corrective actions. Controlling has several features: As dynamic in nature, it enhances the coordination of activities taking place in an organisation and helps in the process of planning. Internal control In the context of accounting and finance, internal control relates to a process by which the structure, the flow of task and authority, the people and the management information systems are designed in a manner so as to help an organization achieve definite goals and objectives. By this operation an organization directs monitors and measures its resources. Control plays a significant part in checking and identifying fraud and defending both physical resources like land and machinery a nd intangible resources like goodwill or intellectual property (Trenerry, p.126). The objectives of internal control in an organisation would mean delivery of reliable financial reporting, opportune feedback when operational goals are achieved and conformity with rules and regulations. At the level of a specific functional department, internal control, also referred to as operational control, refers to the means by which definite objectives are achieved. For example, all the transactions that are taking place between the company and the suppliers are should be accounted for. Internal Control system is implemented over Financial Reporting to ensure accounting statements are accurate so that the financial statements are reliable (Harrer, p.2). Revenue Control Issues in FoodRUs FoodRUs, a countrywide chain of wholesale depot, supplies to the small to medium scale shops and catering businesses. The credit terms with its customers is that if a customer has good credit records then they c an buy on account. Else they are to pay 100 % cash before taking delivery of their merchandise. The company also has an online portal through which they sell their products. The main control problem that
Friday, July 26, 2019
Answer 9 questions Essay Example | Topics and Well Written Essays - 1500 words
Answer 9 questions - Essay Example different language because in most cases, word pronunciation makes a great deal in bringing our messages across no matter how wide one’s vocabulary is in a certain language. Sound production is a widely recognized problem and considered to be the most challenging part in learning a second language. Intonation and accentuation are equally challenging but do not give much problems in contrast to sound production because it is the pronunciation of the word correctly that makes one coherent. Older learners have difficulty in achieving a native-like pronunciation because they have already been used to the accent and intonation of their own tongue. This may be compared to training a plant to follow a bend that the florist desires for it to have a unique design wherein, if it is still young, the plant is easily bent while when it is already of age with its trunk hardened, there would be difficulty in bending it. Thus, if one wants to learn another language, it is best to start while he is still young and is able to develop the communication skills more effectively. Pronunciation should be taught not only in a certain period of time where the lesson is concentrated in sound formation but should be taught in all levels of the teaching process. Correction is more effective when the mistake is brought to light right then and there because the student is most aware of the mistake when he just made it. Whereas, when you let a mistake pass and try to correct it later during a spe cific pronunciation class, the student tends to forget and deny the mistake he committed. Thus, pronunciation should not be treated separately but should be taught all throughout. For beginners, I teach pronunciation separately during the first lessons. Of course it would be irrational to be teaching beginners many words that would just confuse them and worst, might scare them. Thus, I introduce my lessons systematically starting with the basic and common sounds and even giving examples to magnify
Thursday, July 25, 2019
Mental Health iIlness (DEMENTIA) Essay Example | Topics and Well Written Essays - 3000 words
Mental Health iIlness (DEMENTIA) - Essay Example Since impaired neurons are not capable of reproducing or renewing, the changes are irreversible, and any outcomes they produce are often irreversible (p. 118). Generally, it is not possible to halt the progression of the illness, because no cure is available. Hence the condition could affect other nerve cells, slowly but unavoidably resulting in the behavioural disorders and incapacities called ‘dementia’ (Esiri & Trojanowski 2004, 1-2). The outcomes could be illustrated as an organised deterioration of the mind through which the individual becomes more and more helpless, insecure, difficult, unaware, and inadequate. With an aging population that is drastically enlarging, there is the likelihood that dementia will become massively prevalent in the 21st century. Dementia: An Overview Dementia is defined by the World Health Organisation as (Curran & Wattis 2004, 10): A syndrome due to disease of the brain, usually of a chronic or progressive nature, in which there is impai rment of multiple higher cortical functions, including memory, thinking, orientation, comprehension, calculation, learning capacity, language and judgment. Consciousness is not clouded. The cognitive impairments are commonly accompanied, and occasionally preceded, by deterioration in emotional control, social behaviour, or motivation. Hence this illness has implications for the capacity of individuals to deal with facets of their everyday lives to their prior capabilities. Commonplace tasks like taking a bath, dressing, going to work, leisure, and building and maintaining relationships become more and more taxing. If the individual endures dementia for a long time it could become painfully difficult for him/her to perform such tasks by themselves or to communicate or express needs clearly and intelligibly (Judd 2011, 89). The nature of dementia is that it is an accelerating condition; signs become more evident and impinge on the person’s life on a greater extent, sooner or la ter spreading through all parts. Signs and Symptoms Loss of memory is dementia’s most common symptom. There are those who fail to remember the names, or even faces, of people they have been acquainted to for a long time, or lose their way in long known places. There are those who have obsessed or paranoid delusions about the people around them (Esiri & Trojanowski 2004, 3). Numerous have abrupt, unhealthy loss of weight. When such diagnoses do not disable function or ability, mild cognitive impairment (MCI) is detected (Esiri & Trojanowski 2004, 3). According to Levine (2006, 29), roughly 20% of individuals with MCI progress to dementia as these cognitive disorders affect everyday activities and function. Psychiatric signs and symptoms (e.g. depression, psychosis) were identified as major features of dementia since 1907. In spite of this finding, emphasis during the earlier decades has usually focused exclusively on memory deficits and other cognitive areas that have been dra wn on to identify dementia’s clinical symptoms (Budson & Kowall 2011, 113). The scientific value and extensive prevalence of other mental disorders in dementia are currently the focus of numerous specialists and researchers. According to some findings, the pervasiveness of neuropsychiatric symptoms in dementia is
Wednesday, July 24, 2019
International Relations and Foreign Policy Essay
International Relations and Foreign Policy - Essay Example 89-91). However, it is arguable that international relations theories are not self-explanatory of the behavior of all countries and cannot be applied to all circumstances. While the theories are general in nature, they do seek to explain the behavior of nations in general during some of the most important events in history such as the World Wars and other economic treaties (Dougherty and Pfaltzgraff, 2001, pp.95-96). Foreign policy regards the policy or the set of norms that a country adopts regarding its personal behavior with other nations. These norms may govern aspects such as trade, alliances, aid, peace treaties, military support, coalitions, and other matters. Foreign policy is arguably a determinant of a country’s personal circumstances and their own relative power in the international arena. Critics (Janis, 1972, pp. 45-46) may argue that foreign policy is not set according to the activities conducted in the international arena, but is set according to the individual domestic factors of a country itself and the preferences and prejudices of its leader. Therefore, if this is the case, this suggests that international theories, which generalize the behavior of countries throughout the world, are not relevant when it comes to devising theories of foreign policy. Being a neo-realist, Kenneth Waltz claims that international theories do not consider enough variables specific to countries; hence, they cannot be used to predict foreign policy and are not applicable in this regard. However, if international relations theory cannot be applied to predict or analyze the behavior of countries and are not explanatory of their foreign policy, then what is their use? This paper aims to explore the difference between theories of international relations and theories of foreign policy, while explaining the main two international theories prevalent in the international arena. The main emphasis of this paper will be upon the neo-realist school of thought and Kenneth Waltz’ considerations of why the neo-realist theory is inadequate to predict the behavior of individual states and therefore is not applicable as a theory of foreign policy. The aim of this paper will be to refute Kenneth Waltz argument that international relations theories cannot be used as theories of foreign policy through the aid of academic articles. International Relations theories are highly popular when it comes to finding explanations regarding the behavior of countries collectively and in general terms. The theories consider the behavior of all countries to be alike while accounting for variables such as their military strength, economic prosperity, power in the international arena, and their motives (Janis, 1972, pp. 88-89). These theories are supposedly used as indicators of the behavior of countries in different circumstances and as predictive measures. The most popular theories of international relations include realism and liberalism. The two schools of though t, realism, and liberalism are quite divergent from one another and are complete opposite theories. Hence, here has been a longstanding debate between the supporters of both schools of thought. The liberalists believe that morals, international organizations, and legislation or law governs the world. For liberalists, the power
Tuesday, July 23, 2019
Writer's choice Essay Example | Topics and Well Written Essays - 750 words - 9
Writer's choice - Essay Example Additionally, sometimes acts as a little mirror. According to Land, Michael and Dan-Eric, the iris serves as a reflector for the animals because light falls on the eye and it is reflected spontaneously (45). In this regard, some animals reflect green light. The reddish appearance of the eyes among people is called red-eye effect. Such effect is associated with the capturing of light, which is reflected from retina. The problem is resolvable through various ways. Light rays usually permeate through the corns of n eye in order to focus clearly on the retina. This causes the light-detecting cells, which are at the back of the eye to responds according. Consequently, the eye retina converts the light rays into electronic pulses, which are able to align with the theoptic nerve. This enhances the creation of visuals images. According to Russell, the process of reddening of the eyes is subject to the constriction of the eyes (78). The constriction of the eyes is subject to time and the flas h of light overwhelms the retina. The speed of light reflection is high and causes the impact of the red eye-effect. Moreover, the eyes appear red after a flash of light because of the high supply of choroid in blood. Choroid is layer of connective tissues, which occur at the back of the eye (Rakoczy 65). The purpose of the layer is to nourish the retina. The other purpose of the choroid layer is to maintain the red color of the normal eye. It is possible to prevent the red-eye effect. People should not look at a camera with their naked eyes. There is needed to make the room of snapping brighter than normal. The setting of the camera must be adjusted. For instance, the anti-red eye effect function must be adjusted. Technology has played a major role in enhancing the reduction of the red-eye effect. Modern cameras are sophisticated because they have adequate customizations. For instance, the modern cameras have
Monday, July 22, 2019
Reflection on Impact of Emerging Markets Essay Example for Free
Reflection on Impact of Emerging Markets Essay The world of business has changed in recent years. Usually, the firms of developed countries dominated the globe and developed countries’ markets were the most attractive. However, new attractive markets and new players have emerged from areas outside the developed world. These new markets such as the BRICs and the MISTs have large populations, high economic growth and increasing demands for goods. Also, they are expected to surpass the developed economies by 2050 (Goldman Sachs, 2003). According to Jagdish N. Sheth, the emerging markets have impacted both the theory and the practice of marketing. The reason is very simple; marketing is a discipline that was developed in the concept of industrialized (developed) markets meaning that most of the marketing tools are designed to work specifically in industrialized markets (Sheth, 2011). Therefore, adapting most of what is known about marketing is necessary to succeed in new markets and new marketing research approaches need to be taken. The article Impact of Emerging Markets on Marketing: Rethinking Existing Perspectives and Practices covers some of the most important characteristics of these markets such as their growth, market heterogeneity, sociopolitical governance and comparative advantages. Also, the author suggests some changes that need to be made to the existing marketing theory, marketing strategy, marketing policy and marketing practice. Moreover, Sheth argues that companies (from developed countries as well as from the emerging countries) who succeed in the mentioned markets are becoming global competitors. The reason is that these firms have to innovate to overcome challenges such as shortages of resources, inadequate infrastructure and unbranded competition. As a result, innovation makes these firms more efficient as well as it creates a competitive advantage which allows them to compete globally. Having grown up in Mexico, one of the so called MISTs, I can relate many of Sheth’s marketing suggestions with some strategies used by Mexican companies. Some of these companies are already global players such as Grupo Bimbo, Cemex and America Movil (Inter-American Developing Bank, 2008). They are strong competitors in the bakery industry, building materials industry and telecom industry respectively. However, there is another rising player named Coppel S.A. de C.V. that already started to expand to other emerging markets outside Mexico, aiming to become a global competitor in the retail business. Coppel is family owned business with 1,000 stores and 80,000 employees in Mexico. Also, it has eight stores in Argentina and eight in Brazil. I will like to focus on Coppel, 2011’s biggest retailer in Mexico (El Economista, 2012), and how this company has already applied some of Sheth’s suggestions to marketing perspectives and practices. Even though the article mentioned many good points to succeed in emerging markets, the most important are purpose driven marketing, resource improvisation, and market development. Purpose driven marketing According to Sheth, purpose driven marketing is going beyond highlighting the benefits of a product or service, creating a lifetime value among the customers, employees and other stakeholders. Coppel wins its customers’ hearts with the slogan â€Å"Coppel Mejora tu vida†which translates to â€Å"Coppel improves your life†. Along with the slogan, Coppel offers a range of products such as clothes, furniture, electronic appliances and financial services to the 68 percent of the Mexican population whose monthly income is less than 2,743 pesos, close to 165 EUR (DigitalPersona, 2012). Most of the products sold by Coppel are products that fulfill the customers’ needs. At Coppel’s stores, it would be difficult to find expensive shoes or clothes. Also, Coppel guarantees all the furniture and any electronic product regardless of the brand sold at their stores up to 2 years; while most manufacturers only guarantee the first year. This warranty is very important to the customers since a washing machine or refrigerator can be equivalent to ten or eleven months of salary. In the financial services part, Coppel offers credit to buy goods in the store and cash loans up 1,000 EUR (loyal customers who have been Coppel’s clients for more than a year). Coppel is not as strict as many of the different financial institutions in Mexico which would never lend a single peso to any of Coppel’s customers. In other words, Coppel has a marketing policy of inclusive growth which means including in their policies those markets that marketers would have left out. In addition, Coppel extends its marketing to its stakeholders such as the community, employees, channel partners and suppliers. For the employees and their children, Coppel offers to pay half of their school tuition up to the master degree level as well as provide school supplies for them. Also, Coppel encourages its employees to get married by giving employees up to two months’ salary as a wedding present. Marriage is seen as a very important tradition in a conservative country such as Mexico. As a result, Coppel does improve the life of its customers as well as their stakeholders. It focuses on creating a lasting value to position itself as a company that offers more than just quality products and services. For this reason, Coppel has better financial performance than its competitors. Resource improvisation. â€Å"If necessity is the mother of invention, then resource shortage is the father of innovation†(Sheth 2011). For that reason, firms operating in emerging markets gain advantage by improvising with scarce resources, making them more innovative relative to their competitors. Coppel’s most innovative process is the use of a fingerprint biometrics in the point of sale (POS) and in all operating systems (DigitalPersona 2012). This system has helped to improve the verification process of purchases for 20.6 million customers since a customer can buy on credit (in the store) using just his or her fingerprint without using any type of identification. As mentioned, Coppel has close to 20 million registered customers’ fingerprints in their database. That represents almost 20 percent of the entire Mexican population, which allows Coppel to generate a reliable source of information about its customers. Reliable information about customers is not easy to have in emerging markets. For that reason, Coppel has an advantage over its competitors since it can use that information to create new marketing strategies to target a specific customer behavior. Also, the fingerprint system has reduced the possibility of fraud since every single customers information is linked to his or her fingerprint. This system has proved very useful in Argentina and Brazil where most customers (low income class) hardly carry an ID with them. Another innovating process is Coppel’s distribution system. The reason is that Coppel has 19 warehouses with 127 distribution centers to supply all its stores in 337 different cities in Mexico (DigitalPersona 2012). The distribution system is in-house designed which means that Coppel can modify it whenever is needed without having aid from an external provider. This decreases the response time when a challenge is raised. Also, Coppel’s system updates in real time. This means that the company knows exactly what products are being sold at any given time and what products are on the delivery trucks. In addition, Coppel daily supplies all the stores just with the right amount of goods that were sold the day before using small trucks with low gasoline consumption or pressured gas to keep down the cost. It also offers free delivery to its customers. This is a competitive advantage since other competitors do not offer it free of charge and almost half of the Mexican population does not have cars. Moreover, the distribution system is very efficient that some other retailers like Wal-Mart Mexico have tried to replicate it. In Mexico, Coppel is known as an innovative firm due to its distribution and fingerprint systems. Market development. While developed markets’ firms target customers’ needs using market intelligence, firms in emerging markets such as Coppel create customers’ needs by shaping customer expectations. In other words, create a â€Å"Field of Dreams†and customers will come. â€Å"Coppel mejora tu vida†is a statement that brings the customers to that â€Å"Field of Dreams†. Since customers in emerging markets are seeking to improve their life condition within their limited economic capacity, Coppel offers accessible and affordable products and services. Coppel has created and developed its own market over the last 70 years. The firm took care of the expectations of the poorest segment in Mexico and that segment has become Coppel’s most loyal customers. Therefore, developing a market brings more financial benefits than market orientation since the firm that develops a market gets the advantage and creates barriers for new entrants. Huawei in China and Avon in Brazil used marketing development to shape the customers’ expectations to positioning themselves in those markets. Nowadays, both of them are strong global competitors. Conclusion Coppel has the widest profit margin of any major Latin American retailer (Bloomberg 2012) because its strategies are based on purpose driven marketing, resource improvisation, and market development. Also, Coppel has developed a market as a result of a lifetime value that is attractive to all the stakeholders while innovating to overcome the challenges generated by the characteristics of operating in an emerging market. As mentioned by Sheth, new ideas from the emerging markets are impacting what we know about marketing. In the 1980s there was the belief that â€Å"The products and methods of the industrialized world play a single tune for all the world, and the world eagerly dances to it†which was written in the 1983’s article The Globalization of Markets by Theodore Levitt. This statement suggests that no adaptation was needed to Marketing practice and theory. On the other hand, Sheth says â€Å"the rise of emerging market is inevitable and it will have a disruptive impact on the marketing practice and theory†in 2011. Sheth’s article creates the bases of what is going to be new approaches for marketing research. The emerging markets will become the focus of the next generations of marketers and firms such as Coppel will be an example of how the emerging firms are shaped by their surroundings. References Sheth, J.N. (2011). Impact of emerging markets on marketing: Rethinking existing perspectives and practices. Journal of Marketing, 75 (July), 166-1 Levitt, T. (1983). The globalization of markets. Harvard Business Review, 61 (May/June), 92-102 Goldman Sachs (2003). Dreaming with BRICs: The Path to 2050. Goldman Sachs. N.p., n.d. Web. 11 Dec. 2012. http://www.goldmansachs.com/our-thinking/topics/brics/brics-reports-pdfs/brics-dream.pdf Inter-American Development Bank (2008). From Multilatinas to Global Latinas The New Latin American Multinationals. Http://www.iadb.org. N.p., 2008. Web. 11 Dec. 2012. http://www.iadb.org/intal/intalcdi/pe/2009/03415.pdf El Economista (2011). â€Å"En El 2011, Coppel â€Å"abaratà ³Ã¢â‚¬ a Liverpool†. En El 2011, Coppel abaratà ³ a Liverpool. N.p., 15 Mar. 2012. Web. 11 Dec. 2012. . Coppel. Coppel. N.p., n.d. Web. 11 Dec. 2012. . DigitalPersona (2012). Coppel Corporation Uses DigitalPersona Fingerprint Biometrics for Customer and Employee Security and Convenience. Coppel Corporation Uses DigitalPersona Fingerprint Biometrics for Customer and Employee Security and Convenience. N.p., 21 Sept. 2012. Web. 12 Dec. 2012. Bloomberg News (2012). â€Å"Mexico’s Coppel Brothers Emerge With $16 Billion Fortune.†BusinessWeek. N.p., 15 Nov. 2012. Web. 17 Dec. 2012.
Expansion Opportunities Abroad Essay Example for Free
Expansion Opportunities Abroad Essay With the proposed expansion of CPI in other countries like Brazil and the some European states, we need to consider three things: 1) the market share of giant corporations in the same business, 2) the company’s capital size, and 3) the price elasticity of the products to be sold (in those countries). While all these factors are of salience in the company’s operations, it is assumed that the relative complexity of the market is an avenue of uncertainty. Other factors like political stability may influence considerably the company’s operations as much as the presence of giant corporations in the business. The presence of giant corporations in the same business can be staved-off by setting commercial offices in places that are without the presence of these corporations. For example, if giant corporations are well concentrated in a particular city, the company should establish subsidiaries in semi-urban areas. This would stave off competition as well as maximizing the limited consumer base (semi-urban areas have a considerable consumer size). The company’s capital size should also be considered. Capital provides a firm the working materials to produce goods and services to the public. Capital and labor make up the so-called â€Å"inputs of production†of a firm. Therefore, if the company is going to expand overseas, it must first negotiate on the volume of capital that is needed for expansion (and of course, the associated risk). In this case, 5 to 20 % of the company’s capital will be used for expansion. This is a fair evaluation of risks involved in the venture as well as the proposed distribution of capital in â€Å"host†countries. The real problem though lies in determining the price elasticities of products to be sold in the market. Although the company fared well by concentrating its sale to regional places, this would not be the same when it goes international. Price elasticities generally become stable and somewhat inflexible once prices also become inflexible. The implication: those companies with large capital bases will tend to survive; those with small capital bases will either merge to survive or exit in the market. Even if the company set-up subsidiaries in semi-urban places to prevent competition, there is no assurance of success. Below we shall discuss nature and definition of price elasticities. There are two primary types of elasticities: price elasticity of demand and price elasticity of supply. Here we are concerned only with the former since the company’s expansion abroad depends on the sensitivity of consumer demand to price changes. Price elasticity is defined as â€Å"the measure of responsiveness of a factor or variable to another factor or variable†(Buchholz, 1996). Price elasticity of demand is defined as â€Å"the measure of responsiveness of quantity demanded to a change in price, all other things held constant (ceteris paribus)†(Price Elasticity of Demand, 2007). General relations of price elasticity of demand: †¢ If PED 1 then Demand is Price Elastic †¢ If PED = 1 then Demand is Unit Elastic (equal response) †¢ If PED 1 then Demand is Price Inelastic In the case of products manufactured by CPI, specifically Super Clean, it generally experiences the third relation. If Super Clean raises the prices of its product by 5%, percentage change in quantity demanded would be less. The implication: by setting subsidiaries in places where there is the minimal presence of giant corporations, Super Clean would be able to control minimally the prices of its product due perhaps to the relative inflexibility of consumer demand. This would maximize profit. Even if giant corporations enter, revenues would tend to be stable because consumer demand is stable. This would generally reduce the overall risk of the company.
Sunday, July 21, 2019
Economics Questions and Answers on Resources and Profit
Economics Questions and Answers on Resources and Profit Assignment Questions: Question 1: The removal of imperfections in the market leads to an increase in efficiency in the allocation of resources. Discuss whether you agree with this view (25 marks) Question 2: Explain what is meant by normal and abnormal profit and when such profits might occur (12 marks) Discuss the three reasons as to why people demand money, according to the liquidity preference theory (13 marks) Table of Contents (Jump to) Question 1: A. Allocative Efficiency and Perfectly Competitive Market B. Allocative Efficiency and Monopoly Question 2 (a): A. Perfect Competition B. Monopoly C. Monopolistic Competition Question 2 (b) A. Transaction Motive B. Precautionary Motive C. Speculative Motive Referencing List of Figures (Jump to) Figure 1: Pure Competition MSC MSB Curves Figure 2: Consumer Surplus Producer Surplus Figure 3: The short run and long run in perfect competition Figure 4: The short run and long run monopoly market Figure 5: The short run and long run monopolistic competition Figure 6: Money Demand Curves (liquidity preference theory) Question 1: The removal of imperfections in the market leads to an increase in efficiency in the allocation of resources. Discuss whether you agree with this view (25 marks) A. Allocative Efficiency and Perfectly Competitive Market Allocative Efficiency occurs when it is not possible to reallocate resources in order to make someone better off without making at least another person worse off. It arises where: Marginal Social Cost (MSC) = Marginal Social Benefit (MSB). The MSC refers any extra cost to society of producing one more unit of output. The law of diminishing returns implies that MSC will be upward sloping. On the other hand, the MSB is any extra benefit to society of producing one more unit of output. The law of diminishing marginal utility implies that MSB will be downward sloping. For example: If the 20th unit of output is produced, then it costs the society $10, but yields a benefit of $20. Thus, the society’s welfare increases by $10 (i.e. MSB – MSC). Since MSB is greater than MSC, people is better off. On the contrary, it is not in the society’s interest to produce the 40th unit. In perfect competition, both consumer surplus and producer surplus is maximised (as illustrated by figure 1), where the price is equal to the marginal cost. The consumer surplus is the total net benefit enjoyed by all consumers buying the product. For instance, a consumer paying $20 for a product whose market price is $15; thus enjoying the benefit of $5 ($20 $15 = $5). Producer surplus is the difference between the market price the producer receives and the marginal cost of producing this unit. Demand curves measure the maximum price that consumers are willing to pay for a given quantity of a good. Hence, the demand curve is a measure of marginal benefit (or marginal utility) to the consumer. Therefore, in absence of externalities, MSB = D = P. In perfectly competitive market, the supply curve is a measure of the marginal cost in the industry. In the absence of externalities, MSC = S = MC. Therefore, an efficient allocation of resources under perfect competition happens when price equals to marginal cost, i.e. P = MC, in the short and long run. B. Allocative Efficiency and Monopoly Monopoly market structure is one of the major sources of market imperfections. A monopoly is having one firm producing and selling a product with the existence of barriers to entry. A monopolist is a price taker. The monopolist can set the price or the output, but not both. They can even earn abnormal profits at the expense of efficiency and welfare of consumer and society. Since price is higher than marginal cost, this will lead to a loss of allocative efficiency and a failure of the market. In fact, the monopolist is extracting a price from consumer that is higher than the cost of resources required. Thus, at price Pm, the monopolist is charging a higher price and restricting output to Qm, whereby capturing a portion of the consumer surplus. Under monopoly, there is a portion (triangle ABC) where both the consumer surplus and producer surplus are recovered. This is known as â€Å"deadweight loss†. Figure 2: Consumer Surplus Producer Surplus Imperfections in the market leads to misallocation and underutilisation of resources and reduction in consumer surplus since price is greater than marginal cost, i.e. P > MC. But imperfections in market do have some benefits such as: Monopolist are supplying products on a very large scale, thus they may be in a better place to exploit increasing returns to scale leading to a fall in average total costs of production. This reduction in costs will lead to an increase in monopoly profits, but some gains in productive efficiency may pass onto consumer in the form of lower prices. Earning abnormal profits in the long run may lead to faster rate of technological development thereby reducing costs and producing of better quality. Supernormal profits may be used to invest in research and development programmes that have the potential to bring dynamic efficiency gains to consumers in the markets. Question 2 (a): Explain what is meant by normal and abnormal profit and when such profits might occur? (12 marks) Normal profit is the minimum level of profit that a company needs to remain competitive in the market. If firms in an industry are making normal profit, then there is no reasons for them to leave or for other firms to join the industry. Normal profit occurs when revenue equals cost. Abnormal profit (or super normal profit) is profit in excess of normal profit. If firms in an industry are making abnormal profit, then there is a reason for other firms to join the industry if they can. Abnormal profit occurs when the revenue is greater than the costs. A. Perfect Competition In the short run, firms can make abnormal profits or losses, whereas they can only make normal profits in the long run, as illustrated below: Figure 3: The short run and long run in perfect competition B. Monopoly Monopolies can earn abnormal profits in the short run and in the long run due to the existence of strong barriers to entry. Figure 4: The short run and long run monopoly market C. Monopolistic Competition Monopolistic competition involves many sellers with differentiated products, e.g. shoe producers or restaurants. In the short run, firms can make abnormal profit whereas in the long run, other firms will be attracted by the abnormal profits causing firms’ demand to fall until only normal profits are made. Figure 5: The short run and long run monopolistic competition As a conclusion, if firms are making abnormal profits, other firms will be attracted by such profit, and will try to enter that particular market to reap some of that profits. As a result, firms in perfectly competitive market and monopolistic competitive market will enjoy normal profit with the entrance of new firms in the long run. On the other hand, firms in monopoly market will enjoy abnormal profits both in the short run and in the long run due to the existence of strong barriers to entry. Question 2 (b) Discuss the three reasons as to why people demand money, according to the liquidity preference theory (13 marks) According to Keynes’ Liquidity Preference theory, people demand moneyand hold their wealth in monetary form because of the following three main reasons: A. Transaction Motive Day-to-day transactions are performed by both individuals and firms. An individual person holds cash in order to meet his/her daily expenditures. Business holds cash to meet its current needs such as payments of raw materials, etc†¦ Therefore, we can say that money needed by consumers, businessmen and others, is known as the demand for money for transactions motive. This demand depends upon the following: Size of the income: If income is high, more will be available for daily transactions and vice versa. Time gap between receipts of income: If a person gets his pay daily, he/she will demand less cash and vice versa. Spending habit: If a person is spent a lot, he/she will do more transactions and thus will demand more money. B. Precautionary Motive Precautionary motive for holding money refers to the desire to hold cash for unforeseen contingencies such as illness, accidents, unemployment, etc Business keeps cash reserve to safeguard their future. This type of demand for liquidity is called demand for precautionary motive. This demand depends upon many factors: Size of the income: If a person earns a high income, he/she will demand more money for safeguarding his future. Nature of the person: Some persons are optimistic, i.e. they anticipate less of future risk and danger, and hence they will demand less money for precautionary motive. On the other hand, pessimistic persons foresee dangers, calamities, and emergencies in the future, and hence, they want to have more cash with them. Farsightedness: They are persons who can proper guess of the future, and thus they will keep more money (in cash) with then in case of more emergencies expectation and vice versa. C. Speculative Motive The speculative motive relates to the desire to hold cash and take advantage of future changes in the rate of interest or bond prices. For instance, if the price of bond is expected to rise, meaning the rate of interest is expected to fall, then people will buy bonds and sell later when the price rises, and vice versa. According to Keynes, â€Å"the higher the rate of interest, the lower the speculative demand for money and vice versa†. Figure 6: Money Demand Curves (liquidity preference theory) Keynes hold that the transaction and precautionary motives are completely interest inelastic, whereas the speculative demand for money is a smooth curve which slopes downward from left to right, as illustrated in above figure. References GILLESPIE, A (2001) Advanced Economics through Diagrams. [Online] 2nd Ed. UK: Oxford University Press. Available from: https://books.google.mu/books?id=vR-cjX2e-bkCpg=PA33dq=normal+and+abnormal+profithl=ensa=Xei=Wi4EVfKiCcH5UISKhLAIved=0CBMQ6AEwAA#v=onepageqf=false [Accessed: 14th March 2015] ECONOMICS ONLINE (2015) Barriers to entry [Online] Available from: http://www.economicsonline.co.uk/Business_economics/Barriers_to_entry.html [Accessed: 14th March 2015] ECONOMICS.HELP (2012) Barriers to entry [Online] Available from: http://www.economicshelp.org/microessays/markets/barriers-entry/ [Accessed: 14th March 2015] GOVT. T.ROMANA COLLEGE Keynes’ Liquidity Preference Theory of Interest [Online] Available from: http://www.trcollege.net/study-material/24-economics/40-keynes-liquidity-preference-theory-of-interest [Accessed: 17th March 2015] INVESTOPEDIA (2015) Liquidity Preference Theory [Online] Available from: http://www.investopedia.com/terms/l/liquiditypreference.asp [Accessed: 17th March 2015] ECONOMICS ONLINE (2015) Money and Monetary theory [Online] Available from: http://www.economicsonline.co.uk/Global_economics/Money_and_monetary_theory.html [Accessed: 17th March 2015] TUTORS2U.COM Liquidity Preference Theory [Online] Available from: http://www.tutors2u.com/rte/File/Economics/LIQUIDITY PREFERENCE THEORY.pdf [Accessed: 17th March 2015] MOSCHANDREAS Maria (2000), Business Economics. Cengage Learning EMEA HOAG, Arleen J. and HOAG John H. (2006) Introductory Economics [Online] World Scientific. Available from: https://books.google.mu/books?id=-2AcaoqC-28Cdq=efficient+allocation+of+resources+in+perfect+competition+market+and+monopolysource=gbs_navlinks_s [Accessed: 1st April 2015] SEXTON Robert (2015) Exploring Economics [Online] 7th Ed. Cengage Learning. Available from: https://books.google.mu/books?id=YDdBBAAAQBAJdq=efficient+allocation+of+resources+in+perfect+marketsource=gbs_navlinks_s [Accessed: 1st April 2015] MANKIW N. (2014) Principles of Economics [Online] 7th Ed. Cengage Learning. Available from: https://books.google.mu/books?id=K-jKAgAAQBAJdq=efficient+allocation+of+resources+in+perfect+marketsource=gbs_navlinks_s [Accessed: 1st April 2015] BAUMOL W. and BLINDER A. (2015) Microeconomics: Principles and Policy [Online] 13th Ed. Cengage Learning. Available from: https://books.google.mu/books?id=XwW0BAAAQBAJdq=efficient+allocation+of+resources+in+monopolysource=gbs_navlinks_s [Accessed: 1st April 2015] TUTORS ON NET (2007-2014) Resource Allocation under Monopoly [Online]. Available from: http://www.tutorsonnet.com/monopoly-resource-allocation-homework-help.php [Accessed: 1st April 2015] BYU IDAHO Economic Principles and Problems – Micro [Online] Available from: https://courses.byui.edu/econ_150/econ_150_old_site/lesson_08.htm [Accessed: 1st April 2015] KIRZNER Israel M. (2007) Market Theory and the Price System [Online] Ludwig von Mises Institute. Available from: https://books.google.mu/books?id=h68AKS010W0Cdq=efficient+allocation+of+resources+in+monopolysource=gbs_navlinks_s [Accessed: 1st April 2015] OHRI VK and JAIN TR, Principles of Microeconomics [Online] FK Publications. Available from: https://books.google.mu/books?id=geSOZshzNt0Cdq=efficient+allocation+of+resources+in+perfect+competition+market+and+monopolysource=gbs_navlinks_s [Accessed: 1st April 2015] LIPSEY Richard G. and HARBURY Colin (1992) First Principles of Economics [Online] Oxford University Press. Available from: https://books.google.mu/books?id=cV0EZuJxod8Cdq=efficient+allocation+of+resources+in+perfect+competition+market+and+monopolysource=gbs_navlinks_s [Accessed: 1st April 2015] MISSOURISTATE.EDU Monopoly and Perfect Competition Compared [Online] Available from: http://courses.missouristate.edu/ReedOlsen/courses/eco165/Notes/pc-m.htm [Accessed: 1st April 2015] ECONOMICS.HELP (2012) Diagram of Monopoly [Online] Available from: http://www.economicshelp.org/microessays/markets/monopoly-diagram/ [Accessed: 2nd April 2015] TUTOR2U Potential benefits from monopoly [Online] Available from: http://www.tutor2u.net/economics/content/topics/monopoly/benefits_of_monopoly.htm [Accessed: 2nd April 2015] ECONOMICS.HELP (2012) Advantages of Monopoly [Online] Available from: http://www.economicshelp.org/microessays/markets/advantages-monopoly/ [Accessed: 2nd April 2015] TUTOR2U (2004) Perfect Competition [Online] Available from: http://www.tutor2u.net/economics/revision_focus_2004/A2_Perfect_Competition.pdf [Accessed: 2nd April 2015] TRIPLE A LEARNING Efficient Allocation of resources [Online] Available from: http://www.sanandres.esc.edu.ar/secondary/economics packs/microeconomics/page_117.htm [Accessed: 2nd April 2015] TUTOR2U (2012) Perfect Competition – Economics of Competitive Markets [Online] Available from: http://tutor2u.net/economics/revision-notes/a2-micro-perfect-competition.html [Accessed: 2nd April 2015] TUTOR2U (2012) Monopoly Economic Efficiency [Online] Available from: http://www.tutor2u.net/economics/revision-notes/a2-micro-monopoly-economic-efficiency.html [Accessed: 2nd April 2015] YOUR ARTICLE LIBRARY.COM (2015) Resource Allocation: it’s Meaning, Monopolistic, Oligopoly Competition and Resource Allocation [Online]. Available from: http://www.yourarticlelibrary.com/economics/resource-allocation-its-meaning-monopolistic-oligopoly-competition-and-resource-allocation/28945/ [Accessed: 2nd April 2015] YOUR ARTICLE LIBRARY.COM (2015) The Demand for Money: The Classical and the Keynesian Approach Towards Money [Online]. Available from: http://www.yourarticlelibrary.com/economics/money/the-demand-for-money-the-classical-and-the-keynesian-approach-towards-money/10987/ [Accessed: 2nd April 2015] EXPERTSMIND.COM (2012) Keynes Interest Theory [Online] Available from: http://blog.expertsmind.com/2012/03/ [Accessed: 2nd April 2015]
Saturday, July 20, 2019
Powerful Emotion in Louise Glucks The School Children Essay -- School
Powerful Emotion in Louise Gluck's The School Children   In the poem The School Children, author Louise Gluck successfully creates for the reader an image of the children, their mothers and the position that they hold in their society. Her simple, yet descriptive words suggest a more in depth meaning that allows one to look past the simple story line of the poem and actually look into the entire situation the poem discusses. The story line simply tells of mothers who pick apples and send their children off to school with them, in hopes that they will receive an education in return. After completion of the poem, the reader comes to the realization that the apples are the center of the poem, around which the true meaning revolves.  Through seemingly simple words, Gluck conveys a meaning to the reader throughout the poem that is camouflaged, so to speak, within the apples, as well as within her words.. Gluck’s use of simple diction and imagery deceptively display the powerful emotion, desperate hope, and passionate meaning held within the apples.     In the first stanza, Gluck describes the apples the mothers have collected as ?words of another language?. This tells the reader that the apples have another meaning, they are used for expression, possibly an expression of the mothers? thoughts, feelings, or intentions. This line alone allows the reader to question what the apples actually represent. By describing the apples in this way, Gluck tells the reader that the apples mean more than what the surface of the poem tells us, we can then infer that the poem itself also has an alternate meaning. Therefore, with this line, Gluck is not only beginning to use descriptive diction to imply meaning, but also to excite ... ...of the poem by expressing to the reader the seriousness and significance of the situation.      It is clear that true meaning behind the poem is contained within the apples. Recalling that Gluck described the apples of ?words of another language? in the first stanza of the poem, we now understand that Gluck herself used the apples as words of another language. By using the first description of the apples to excite the reader?s curiosity, by using the apples to keep the teacher?s happy, and by creating an image of the apples as ammunition, Gluck has successfully used diction and imagery to create an underlying meaning to the poem without ever actually stating it. In conclusion, Gluck has deceptively used the apples, coupled with her excellent use of diction and imagery, to display a far more in depth meaning in a unique, yet entertaining way. Â
Friday, July 19, 2019
Essay --
ISO 9000 standards can be defined as a series of international set standards used by companies to perfect on their quality. These standards were enacted by experts derived from different parts of the world. ISO 9000 Series Standards acts as guideline how companies are mandated to ensure their suppliers have accurate and appropriate quality systems. Basically, ISO 9000 Series Standards was initially developed with support from major credible international bodies obligated to ensure standardization in both quality management and assurance in all companies. ISO 9000 standards were initiated, developed and maintained by a credible organization known as International Organization for Standardization (ISO). These standards have been adapted by many countries globally approximated to be over 90 countries. Essentially, these standards were established with purpose of promoting international trade between different counties which outlines a set of requirements which should be adhered to by all stakeholders. As a matter of fact, ISO 9000 Series Standards is one of the major products used many companies worldwide. ISO 9000 Series Standards was first enacted and published in the year 1987. The Standards was developed with help of selected technical committee focusing more on issues concerning quality. After its publication, the standards have undergone several amendments and changes as evidenced by a major revision done in 2000. Quality is essential on every products and services offered by every company. Quality production being one major area of concern cites the reason why it is vital for companies to observe and maintain ISO 9000 Series Standards. Many companies worldwide are striving hard to ensure their products meets th... ... The standards were established in 1987, by a selected technical committee from different corners of the world. These standards were initiated, developed and maintained by a credible organization known as International Organization for Standardization (ISO). Currently, many companies in over 90 countries have adopted these standards. These Standards acts as guideline how companies mandated to ensure that their suppliers have accurate and appropriate quality systems. ISO 9000 standards are vital to every company or small businesses. They play huge roles in ensuring quality of products is not at all compromised in order to guarantee customers satisfaction. As observed despite many advantages allied with ISO 9000, it has its own disadvantages. These include the involved cost, consumers a lot of time, drawbacks for the employees and emphasizes on heavy documentation.
Imagery in Ragged Dick Essay -- essays papers
Imagery in Ragged Dick Imagery plays a big part in the success of a novel. Different writers have different styles. The good thing about imagery is it makes room for the reader to put things together. The reader is allowed to interpret the story the way that they like. "Ragged Dick", Horatio Alger, Jr. did a great thing with imagery. While reading the novel readers had a change to envision many things that were mentioned in each chapter. Algar interconnected the appearances of the main character to his living arrangement. He also connected these things with the character's attitude. "Ragged Dick" is about a young boy, name Dick Hunter, who earns his living by shining shoes in New York. He is a very street-smart young boy. All thought the story *censored* was treated according to his appearance. In the beginning of the novel Dick was working on someone shoes when he overheard a conversation between a young boy name Frank and his uncle. Frank wanted to take a tour around the city but his uncle was to busy. Dick interrupted the conversation and said he will give Frank a tour. Before they left for the tour Frank thought Dick need a new suit. While Dick gave Frank a tour, Frank gave Dick something's to think about. He talked to Dick about everything from shining shoes to where Dick was going to live. Dick did not have a home. "His bedchamber had been a wooden box half full of straw . . ."(pg4). He ate whatever he could afford. Looking at his clothes one would assume he was poor. " His pants were torn in several places, and had apparently belonged in the first instance to a boy two sizes larger than himself. He wore a vest, all the buttons of which peeped a shirt which looked as if it had been worn a month. ... ... little better. " I think we can afford to leave Moot Street now," he continued. " This house isn't as neat as it might be, and I should like to live in a nicer quarter of the city."(P184) Dick agreed and decided the sooner the better. He wanted to start the very next day, since he retired from boot blacking. In society today appearances are very important. People associate nice clothes with money. You can see in Ragged Dick that is not always the case. In the beginning of the story Dick did not really care where he lived but after he got new clothes he started thinking differently. He wanted to live in a better place. The connect Algar make was good. It makes people aware of the things we do. People concentrate to much on appearances and not personality. I do believe nice clothes may make a person feel better about them, partly because people treat them better.
Thursday, July 18, 2019
Literature Review and Empirical Essay
From the early eighties to the nineties, the Standard Rate increased modestly, but is still below its mid-seventies level. While researchers have identified many reasons for the low UI recipiency rates over the past twenty years, many questions remain as to the causes behind the low rate and steps that policy and program officials might take to increase it. While the Standard Rate is the most commonly used measure to evaluate the effectiveness of the UI program, researchers have developed alternative UI recipiency rates to address some of the limitations of the standard measure. The standard measure is expressed as the ratio of the insured unemployed (i. e. , the number of regular UI claimants) to the total number unemployed. Alternative measures have been designed to better capture the effectiveness of the UI program by including the full range of UI programs available to the unemployed (beyond the regular program) and by more accurately defining the UI target population (a subset of unemployed workers). Purpose and Methodology The purpose of this report is to examine why the Standard Rate, as well as alternative recipiency rates, declined sharply in the early eighties and continued to remain well below their midseventies level in the early nineties. We critically reviewed the findings from the research literature to explore the factors others have identified to explain the drop in the UI recipiency rate. The literature review enabled us to identify factors for inclusion in our empirical analysis and to assess the effects of factors that could not be included in our own analysis. Our empirical analysis is based primarily on the methodology used by Burtless and Saks (1984) and focuses only on changes in the UI recipiency rate over recessionary periods. It is important to compare similar economic periods because the UI recipiency rate is higher during recessionary periods and lower during periods of economic expansion. We first replicated the analysis from Burtless and Saks, estimating the effects of various factors that influenced the rate used in their original analysis from the seventies recession (1975-76) to the eighties recession (1981-83). We then extended their earlier analysis by testing the effects of additional factors during that period. Next, we updated the analysis to include data from the most recent recessionary period in the nineties (1991-92). We chose the period in the nineties to be consistent with the periods of rising unemployment rates selected by Burtless and Saks. Finally, we extended their analysis by using the Standard Rate and two additional measures of UI recipiency selected to measure the performance of the UI programs during recessionary periods. Our conclusions about the effects of various factors on the UI recipiency rate are based on the findings from both the critical review of the literature and our empirical analysis. We also present evaluation design options to address some of the limitations of current knowledge. The Lewin Group, Inc. E-1 156059 Executive Summary C. UI Recipiency Rate Measures Four UI recipiency rate measures were selected for the empirical analysis. Standard Rate: number of weekly claims for regular program unemployment insurance benefits, as a proportion of all unemployed workers;1 All Programs Rate: number of weekly claims for all program (regular, extended and federal) unemployment insurance benefits, as a proportion of all unemployed workers; Standard Short-term Rate: number of weekly claims for regular program unemployment insurance benefits, as a proportion of job losers unemployed less than 27 weeks; and All Programs Job Loser Rate: number of weekly claims for all program (regular, extended and federal) unemployment insurance benefits, as a proportion of all job losers. The final three UI recipiency rates deviate from the Standard Rate by changing the definition of UI claimants, unemployed workers, or both. Because the All Programs Rate and the All Programs Job Loser Rate include all UI program claimants, Wandner and Stengle (1996) argue that they are generally better measures of UI coverage during recessionary periods when extended benefit programs are provided. The All Programs Job Loser Rate differs from the All Programs Rate because it targets a subset of unemployed workers (i. e. , job losers) who would be most likely to qualify for UI benefits. The Standard Short-term Rate only includes regular program claimants and the general â€Å"target population†for the regular state program, job losers unemployed less than 27 weeks. This final measure was used in the original Burtless and Saks analysis. All three alternative rates are larger than the Standard Rate because they use either a more expansive definition of UI claimants and/or a more restrictive definition of unemployed workers. From the seventies to the eighties, all four recipiency rates declined sharply (Exhibit 1). The largest reductions are for the All Programs Rate and the All Programs Job Loser Rate. These rates declined by more than the Standard Rate because of the large cutbacks in the extended benefit programs that were implemented in the early eighties. From the eighties to the nineties, the Standard Rate increased slightly. There is not, however, a large change in either the All Programs or All Programs Job Loser rates over this period, due to the small number of extended claimants. If, however, the analysis were extended to periods following March 1992, there would be an increase in both of these rates because of the extension of benefits through the Emergency Unemployment Compensation (EU3) program. 2 The Standard Short-term Rate follows the same general pattern as the Standard Rate, though there is a much sharper drop-off in the Standard Short-term rate in the early eighties that corresponds with fewer short term job losers receiving regular program benefits.
Wednesday, July 17, 2019
Telstra Segmentation
The broadcasted advertisement launched by Tellers a some months ago highlighting the statement we ar Australian. D) Electronic Interactive merchandising (internet) When you type in Tellers on Google, a sponsored link gets dis adjoined on the right look of your web page which display the divergent sales promotion undertaken by Tellers. 2. The saunter target market for every(prenominal) which all these different marketing talk tools be employ is the market consisting of Australian people, principally those wanting to secure a telecommunication providers advantage.All these communication tools aim at attracting the customers from this market and making them purchase Telltales arrives. Although, the actual market targeted might vary for one communication tool to another, however the company uses these deferential marketing tools to target the entire consumer market right from young to old, students to retirees, etc. As a result it substructure be stated that one of the se gmentation variables on the basis of which Tellers targets consumers is the demographic variable of age. 3.Communication prey advertisement (Outdoor Media/ Billboard) This advertisement aims at attracting the consumers to purchase the latest busy phone (Motorola IV) with a Tellers run. The mall feature aimed at attracting the consumers Is the metropolis search application where people can search for restaurants on the their mobile for turn and decide on which lay out to take hold a meal. Advertising (Print Media) This advertisement aims at attracting consumers using the servicings of other telecommunication providers and makes them subscribe up with Tellers.Also another accusive of the advertisement Is that for encouraging people to sign up with Big Pond which Is the wideband service offered by Tellers. This can be effective because the benefits offered by Tellers can lead the consumers to choose Tellers ever other service providers. Broadcast Advertising The aim of the telecasting commercial is to promote among the consumers of Australia that Tellers is indeed an Australian company and to promote such an theatrical role that the customers choose the domestic brand (Tellers) everywhere other International telecommunication service providers (Boatmen). Gun an advertisement can give great goodwill for the company and play a major role on improving the public transaction. Interactive Advertising Such a sponsored link aims at diverting the attention of the Internet user and attracts him/her towards different sales promotion and offers reanimated by Tellers. Such interactive advertizing can at times be non-productive due to factors such as not appealing to consumers, consumers least interested in it, not seen by the users, etc. 4.A in the altogether marketing communications approach used by Tellers could be handing out mobile connections with minimum credit to the arriving passengers at airports for them to use. In this approach, Tellers sets up c ounters at the airport stretch lounges and hands out the mobile connections to the arriving passengers. At times, when people come to Australia from foreign countries, they do not have a shit mobile injection, which they can use to allude their friends or relatives in Australia.They have to go in search of the retail outlets of these service providers and compare the available alternative. This can be a very lengthy and time-consuming process at times. In place of this, if Tellers provides free telephone connections to arriving people at the airport with minimum credit, it will be able to meliorate its public relations to a great extent and the word-painting of the company can also improve drastically. However, such a marketing communications approach can be dear(predicate) and at times not be very effective.
Tuesday, July 16, 2019
Charles Dickens
Charles Dickens
You may choose to sustain a biographical dictionary handy! Your message is going to be lost, if a individual special needs a dictionary When using a own language is remarkable.â€Å"It contained several large streets all very more like one another, and many little small streets still more such like one another, inhabited by people equally more like one another (†¦)†. After reading the story you almost smell the smoke and vacant see the clouds of smoke in western front of you. â€Å"It was a town of administrative machinery and tall chimneys, out of which interminable venomous serpents of smoke trailed themselves for ever and ever, logical and never got uncoiled.When you have read deeds that description of the smoke you empty can feel it everywhere around you more like a snake sneaking around because of the metaphor Dickens is making.Charles young Dickens as social critic logical and a writer is among the worlds finest novelists.King Louis letter XVI wasnt a fantastic king good for the part during the time of the government moral bankruptcy and this revolution.
At times the story appears to be aimless.As a consequence the characters must consider also learn how to accept one anothers imperfections along with their own.Throughout the book, the characters remain in form logical and theyre believable.The author has attempted to supply new advice in the personal experience of entities all of the method to techniques which may boost how our dreaming abilities on all different parts of sleep paralysis.
It is a little book about reading.Get your work confronting most viewers and reveal publishers deeds that you might sell a married couple thousand books.You have to little read the book.Write the book which you would love to read.
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