Summary Industrial Organization Essay Example for Free

Summary Industrial Organization Essay A perfectly competitive industry has 6 main characteristics: 1) large number of buyers and sellers 2) producers and consumers have perfect knowledge 3) the products sold by firms are identical 4) firms act independently and aim at maximizing profits 5) no entry or exit barriers 6) firms can sell as much output as they want at the current market price NEOCALSSICAL THEORY: Static conception, focus on long-run According to Schumpeter and the Austrian School, the fact that a firm earns an abnormal profit (monopoly) profit does not constitute evidence that the firm is guilty of abusing its market(monopoly) power at the expense of consumer: entrepreneur, creative destruction monopoly status is only a temporary phenomenon competition is a dynamic process Disequilibrium reflects imperfect information or ignorance on the part of buyers and sellers!! Structure-Conduct-Performance (SCP) Paradigm Structure is the central element. It influences conduct which in turn has an effect on the performance STRUCTURE Number and size of firms, entry conditions, product differentiation, vertical integration, diversification; fixed int he short-run CONDUCT Business objectives, pricing, design and branding, advertising and marketing, RD, collusion, merger; refers to the behaviour of a firm PERFORMANCE Profitability, growth, quality of products and services, technological service, productive and allocative efficiency; Chicago School about abnormal profit: causes may be cost advantage and superior efficiency STUDY CASE: EUROPEAN BANKING To prevent from damaging implications for consumer welfare, there can be interventions of the government. The government policy is regulatory intervention to promote competition and prevent abuses of market power preventing a horizontal merger, break up of a large incumbent producer price controls, punishment of unlawful collusions The Chicago School is a group of prominent academic lawyers and economists, whose promarket, pro-competition and anti-government views were perhaps of their most influencial during the 1970’s and 80’s Critics of the SCP Paradigm the theory does not always specify precise relationships between S, C, P variables it is often difficult to decide which variables belong to which category performance is only some measure of the degree of success in achieving desired goals the definition of market or industry structure has a number of dimensions danger of overemphasizing the role of concentration little comprehensive information is available on more subtle aspects of market structure and essentially no systematic data aside from accounting profit rates is available on conduct and performance relationships are oftein quite weak in terms of statistical significance no explanation is offered as to the evolution of the market structure variables, and the influence of the current co nduct and performance on future structure according to the collusion hypothesis, a positive association between concentration and profitability was interpreted as evidence of collusion or other abuses of market power designed to enhance profit according to the efficiency hypothesis (Chicago), a positive relationship between concentration and profitability reflects a natural tendency for efficient firms to be successful and to become dominant in their industries Strategic management: 5 forces model 1) Extent and intensity of competition 2) Threat of entrants 3) Threat of substitute products and services 4) Power of buyers 5) Power of suppliers Porter’s approach: static, underemphasises the problem of uncertainty caused by change in the competitive environment, competitive advantage is measured by the value the firm is able to create in excess of its costs, Porter introduces the concept of the value chain, which disaggregates the firm into its strategically relevant activities: Primary activities (physical creation of produt/service), Support activities (support primary activities and each other) each activity is linked to another, this approach examines how these links can be improved in order to increase margins on each of the firm’s products Kay argues that each individual firm is inherently different, and therefore dismisses the notion of generic strategies. Instead, firms develop distinctive capabilities in an ettempt to achieve competitive advantage. This shift away from analyzing the characteristics of the environment, and towards examining each firm’s unique attributes strategies mirrors the shift of emphasis away from structure and towards conduct that is imlicit in much of the NIO literature. Sources of distinctive capabilities: Innovation, architecture, reputation determinants of performance Firms can only maintain a competitive advantage if they can protect their strategies from imitation The strategic management approach has been criticized for placing insufficient emphasis on the interaction between firms at the level of the market or industry. Instead, the focus is mainly on strategic options available to the firm. †¢ Chapter 2: Microeconomic foundations: The short-run relationships between inputs, outputs and production cost is governed by the law of diminishing returns, and the long-run relation is governed by economies or diseconomies of scale!! The Production Function: q=f(L,K) inthe short run labor is variable but capital is fixed!!! Law of Diminishing Returns: As increasing quantities of labor are used in conjunction with a fixed quantity of capital, eventually the additional contribution that each successive unit of labor makes to total output starts to decline Marginal Product of Labor (MPL): It is the qunatity of additional output the firm obtains by employing an additional worker. Average Product of Labor (APL): It is the ratio of total output to quantity of labor employed. It is important to notice that APL is increasing whenever MPLAPL and APL is decreasing when MPL2f(L,K) f(2L,2K)=2f(L,K) f(2L,2K)1 price elastic sensitive quantity PED =1 unit price elasticity PED 0 for substitutes, 2: more weight to larger firms if for above average performers. †¢ Business unit effects form low performers o The new empirical industrial organization. The new empirical industrial organization shifts the focus from structures analysis to conduct analysis. It is grounded firmly in microeconomic (oligopoly) theory. NeIO makes direct observations of conduct in specific industries, and draws inferences about what these observed patters of conduct might mean for structure. The Rosse-Panzar revenue test is based on empirical observation of the impact on firm-level revenues of variations in the prices of the factors of production that are used as inputs in the production processes of a group of competing firms. The H-statistic is defined as sum of elastic ties if a firm’s total revenue w.r.t. each of its factor input prices. It differs under perfectly competitive, imperfectly competitive and monopolistic market conditions. See page 336 for graphs. If H = 1 conduct perfect competition If H O conduct monopoly If 0 H 1 conduct imperfect competition Empirical evidence: †¢ Commonly, price-setting behaviour in accordance with intermediate competition models is detected. Limits: †¢ Offers a determination of only what the market structure of degree of monopoly is not, and does not suggest what it is. o The persistence of profit Persistence of profit approach examines the time-series behaviour of firm-level profit dates. It suggest: profitability in more profitable industries tends to fall and profitability in less profitable industries tends to rise. tendency for profit rates to converge. supports the disequilibrium hypothesis. Firm level studies suggest there are significant differences between firms in long run equilibrium profit rates, and differences in the speed of convergence. Industry level studies: †¢ If current profitability is higher than expected, entry should take place causing profitability to fall and v. v. the empirical results suggest the process of adjustment towards l.r. equilibrium takes about four years. Industry level variables such as entry barriers, concentration and growth in demand determine the speed of adjustment. There is evidence of a tendency for profitability to persist, especially in highly concentrated industries. †¢ Firm level studies: o If competition is anything less then perfect, and there are barriers to entry, it may take some time for any abnormal profit to be eroded. s.r. profit persistence. o L.r. profit persistence: where there are barriers to entry, there no convergence of firm level rates towards a common l.r. average value. If some firms posses and are able to retain specialized knowledge or other advantage, theses firms may be able to earn profits that remain above the norm persistently, in the long run. o L.r. persistence refers to the degree of variation between firms in the l.r. average profit rates no convergence (empirical result) Part 3: analysis of firm strategy: †¢ Chapter 10: Pricing: o Critic of neoclassical theory: do firms have enough information to apply the profit maximization rule MR = MC? o Cost plus pricing Under cost plus pricing, the firm calculates or simply estimates its AVC and then sets it price by adding on a percentage mark-up that includes a contribution towards the firm’s fixed costs and a profit margin. P = (1+m)AVC This is simple to understand and can be implemented using less information. AVC is relatively flat over a relevant range of output levels; minor variations in the level of demand need not lead to changes in price. So it reduces consumer’s search costs and also reduces destructive price competition. The mark up determination appeals to a sense of fairness. Otherwise it is not simply implemented for a multiproduct firm. The wide-spread use of cost plus pricing might suggest it as a convenient rule of thumb form firms that are really profit maximizers- cost plus pricing is equivalent to profit maximization pricing if AVC is approximately constant, and the mark up is set to a value of 1/(PED/1). Research showed that firms where more profit oriented where competition was more intense and also large firms turned out to be more likely profit maximizing. o Price discrimination A firm that enjoys some degree of market power might consider adopting a more complex pricing policy, for example to sell at different prices to different consumers. First degree price discrimination: †¢ Perfect price discrimination involves making the price per unit of output depend on the identity of the purchaser and on the number of unit purchased. Second degree price discrimination: †¢ Involves making the price per unit of output depend on the number of units purchased. Third degree price discrimination: †¢ Involves making the price per unit depend on the identity of the purchase. The term dumping describes the practice of charging a lower price to consumers in poorer countries than to charge in richer countries. Two conditions: †¢ Some degree of market power and the market has to be divisible into sub-markets different demand conditions, no trade or resale, significant transport costs can also help to achieve an effective physical separation of sub-markets. First degree: †¢ Each consumer’s reservation price is the max. price the consumer is willing to pay. The monopolist can exploit the differences in willingness to pay by charging each consumer high or her own reservation price. It is worthwhile for the monopolist to supply all consumers whose reservation price exceeds the monopolists marginal costs. It is also possible that if reductions in the prices of further units are offered, that the consumer is induced to buy three, four †¦ units. Another way to abtain surplus is to charge a two-part tariff: uniform additional price + fixed fee. In this form of pr. Discr. Producers earn an abnormal profit, there is no CS and there is no DWL. It is known as perfect price discrimination because all the available surplus is extracted by monopolists. †¢ Page 360 Second degree: †¢ In the case where the monopolist cannot distinguish between consumer, the best policy is to offer the same menu of prices and quantities to all and allow the consumers to self select. †¢ Page 362 †¢ If the monopolist sets a fixed fee slightly lower than PCAF, and charging a uniform price per unit slightly higher than PC, he can gain additional PS †¢ With Pc + P the fixed fee is reduced from WXY to W. †¢ Here the producer cannot extract all of the surplus. So first degree price discrimination (perfect information about consumer preferences) is more profitable than second degree (imperfect information) Third degree: †¢ Here the price per unit that each consumer pays is constant, but the monopolist can segment the market by offering different prices to different consumers. Partial market segmentation is achieved through age, membership, gender, profession etc. †¢ The monopolist should select the price quantity combination for each sub-market at monopolistic output. †¢ One price will always be higher and the other price lower than the uniform monopoly price in the non discriminating case. Consumers in the sub market with the lower price have more CS and are always better off than in the non-discriminating case. †¢ Examples: o With intertemporal price discrimination, the supplier segments the market by the point in time at which the product is purchased by different groups of consumers. Each consumer is willing to make his purchase in one of the two periods. (page 369). But: Coase: consumers may learn that prices will be cut and wait with purchasing. o Brand labels: do not really represent pr. Discr. More products are different because of genuine product characteristics. o Loyalty discount: 2nd degree pr. Disc. o Coupons: some from but connected with effort o Stock clearance: some form o Free on board pricing same prices neglecting different costs in different areas. o Peak-load pricing Much of the theoretical literature on peak load pricing is based on an assumption of social welfare maximization. When a peak-load pricing problem exists, often capacity cannot be adjusted. Page 372 The optimal price for each period is the total marginal cost incurred through the installation of additional capacity and the additional production in both periods minus the price charged in the other period. The peak-period consumers, whose demand or willingness to pay is stronger are charged a higher price than the off-peak consumers. MC of installing additional capacity is lowered to B’. Chapter 11: Auctions: o Auction formats, and models of bidder valuation An auction is a market mechanism for converting bids from market participants into decisions concerning the allocation of resources and prices, though a specific set of rules. price formation under conditions of uncertainty, asymmetric information and interdependence. There are four basic auction formats providing the cornerstone for the economic theory of auctions. The English auction (ascending bid auction) involves the price being set initially low and then raised successively until a level is reached which only one bidder is willing to pay. The Dutch auction (descending bid auction) works in the opposite way. In the first price sealed bid auction, each bidder independently submits a single bid, without seeing the bids submitted by other bidders. The highest wins and pays. The second price sealed bid auction (vickrey auction) works similar as the first prices sealed bid auction, but here the highest bidder gets the item and pays a price equal to the second highest bid. Asymmetric information means that seller and buyers typically do not have perfect information concerning the distribution of bidders valuations of the item being auctioned. There are also two alternative assumptions: †¢ In the pure common value model, the item is a single, intrinsic value that is the same for all bidders, but nobody knows the true value. †¢ In the independent private values model, each bidder knows the true value of the item to himself personally. no single value †¢ The affiliated valuation model includes elements of both. o The pure common value model and the winner’s curse The winner’s curse appears to be a rather common feature of many auctions in which bidders valuations conform to the pure common value model. It is very likely that the winning bidder, with the highest private estimate has overvalued the item. The winning bidder is very likely to turn out to be a loser, in the sense of having overpaid the item. Two possible estimates of the true value: a) original private estimate unconditional. b) revised estimate (knowing other valuations) conditional. In order to avoid the winners curse, the sealed bid should be based on a revised estimate, conditional on the bidder’s original estimate being the highest estimate. In fact, in a first price sealed bid auction, it pays to submit a bid some distance below the bidders opinion as to the true value. o Optimal bidding strategies and revenue equivalence in the independent private values model. Assumptions: private values are randomly drawn from a uniform distribution. Risk neutrality of the bidders. The English auction: †¢ Withdraw as soon as the price equals or exceeds the private value. You gain a rent equal to the difference between private value and winning bid, or nothing. Second price sealed bid auction: †¢ A bidder’s optimal bidding strategy is to enter a bid equivalent to his or her own private value. By raising your bid, you can only lose, you cannot possibly gain. The rival’s bid determines the price you would have paid if you had bid your private value. Therefore by lowering your bid you have forfeited an opportunity to buy the item for less than your private value. †¢ English and second price auctions can be described as strategically equivalent when everybody behaves rationally. In the terminology of game theory it is in both cases a dominant strategy. First price sealed bid auction: †¢ It pays to submit a bid that is below your own private value. †¢ Page 396: o P(0) = 0 o P(B) is and increasing function of B. The higher the bid, the higher P(B) to win. o P(B) is a decreasing function of l. The higher the number of bidders, the lower P(B) to win. †¢ By reducing the submitted bid below BH =Vi, bidder i gains by committing to pay a lower price, but also loses by accepting a lower P(B) of winning. The position of the P(B) curve depends on the bidding strategies of the bidders. †¢ Nash equilibrium’s optimal bid: ((N-1)/N) * Vi †¢ As the number of N increases, the optimal bid approached the bidder’s private value. Dutch auction: †¢ Wait until the price has fallen a certain amount below the private value. gain a positive rent. By allowing the price to drop, you can only gain and you cannot lose. Bidder I should bid when the price reaches ((N-1)/N) * Vi. So, also the two last auctions types are strategically equivalent. The revenue equivalence theorem: †¢ All four auctions formats are expected to yield exactly the same price to seller on average. The seller is expected price is always the expected value or expectation of the second highest private value (page 399). Sellers expected proceeds: o E(V2) = (N-1)/(N+1) †¢ It is important to remember that the revenue equivalence theorem relies heavily on the independent private values assumption. Evidence is rather limited o Extensions and additional topics in auction theory. To ensure a certain price for the seller, he can introduce a rule that the item is not sold if the price payable by the winning bidder does not at least match (or exceed) a reserve price. It can be shown that it is optimal for the seller to set a reserve price that is higher than his own private value. Inefficient allocation of resources can be consistent with the maximization of the seller private proceeds. The optimal reserve price does not depend on the number of bidders. The price should not be too high, because then the item won’t be sold anymore. Risk averse bidders: †¢ In an English auction, risk aversion makes no difference to the optimal bidding strategy. In a Dutch auction, in contrast, risk aversion causes the bidder to call out earlier. Therefore the revenue equivalence theorem breaks down if bidders are risk averse (Dutch auction yields higher profit for the seller). In a second price auction, risk aversion causes nothing to change. In a first price sealed bid auction, risk averse bidders tend to bid closer to their private values than risk neutral bidders theorem brakes down again. †¢

Air Pollution in Mexico City Essay examples -- Environment Polluted Es

Air Pollution in Mexico City Mexico City adds an estimated one million new residents each year, resulting in one million new aggravates to the city’s already abominable air quality (Collins, 119). Over the span of a generation, Mexico City’s air has gone from being one of the world’s cleanest to one of the world’s most polluted, as well as the most polluted in its country. The average visibility in the city is down from almost 100 km in the 1940s to only 1.5 km today, removing the once beautiful landscape of the surrounding snow-capped volcanoes (Yip, 1). More significantly, however, Mexico City’s air problems have resulted in a notable decrease in the health of its residents, particularly its children. There are a variety of reasons for the decline in air quality, including factory emissions, suspended particles, vehicles, as well as problematic geographic hindrances. Fortunately, Mexico City is doing a lot in response to the problem, including vehicle control, mas s transit improvements, required industry emission reductions, and an investing in research and education programs. Regardless of these actions, however, Mexico City’s air is still significantly affecting the quality of life for its residents, and the city must continue to make changes in order for real progress to occur. Vehicles are responsible for up to eighty percent of air pollution in Mexico. There are close to four million automobiles, buses, and trucks in the city, the average of which is ten years old, and thus in poor repair with ineffective emission controls. Emissions are increased by the excessive traffic compressed into narrow streets with few parking spaces, requiring low-speed cruising (Collins, 125). Even new engines oft... ...ificant goals set for measured air quality improvements, so while their future is not yet clear, it is at least a little less smoggy. Works Cited Collins, Charles, and Steven Scott. "Air Pollution in the Valley of Mexico." Geographical Review 83 (1993): 119-133. Hibler, Michelle. "Taking Control of Air Pollution in Mexico City." International Development Research Center. 12 Aug. 2003. . Loomis, Dana, Margarita Castillejos, Diane Gold, William McDonnell, and Victor Borja-Aburto. "Air Pollution in the Valley of Mexico." Epidemiology 10 (1999): 118-123. "Mexico City Air Hurting Children." Health and Energy. 11 Mar. 1998. . Yip, Maricela, and Pierre Maldl. "Air Pollution in Mexico City." 14 Dec. 2002. University of Salzburg, Austria. .

Plate tectonic press release

For many years people always called southern California Americas Promised Land because of Its beautiful weather, beaches and Its film industry. Now with 13 million habitants it's been looked at as hazard city. â€Å"Not only does the San Andrea Fault, marking the conservative margin between the Pacific and North American plates, cross Southern California, but LA was built across a myriad of transform faults† (â€Å"Case Study For Multiple Hazards; Los Angel's, California, Usa. , 1999). These Include the Santa Monica fault, the San Fernando fault, and the Northerner/Santa Barbara fault. Although the most violent earthquakes are predicted to occur along the San Andrea Fault, earth movements frequently occur along most of the lesser known faults. â€Å"The most recent of 11 earthquakes to affect LA since 1970 occurred in January 1994, focusing in the Northerner area It registered 6. On the Richter scale, lasted for 30 seconds, and was followed by aftershocks lasting several day s, The quake killed 60 people, injured several thousand, caused buildings and sections of freeway to collapse, Ignited fires following a gas leak and explosion In the Granddad Hills area, and left 500,000 homes without power and 200,000 homes thou water supplies† (â€Å"Case study For Multiple Hazards: Los Angel's, California, Usa. â€Å", 1999). There'd many reasons as too what causes the earthquakes and how they started.The earthquakes in California are caused by movements of huge blocks of the earth's crust known as the Pacific and North American plates. â€Å"The Pacific Plate is moving in the North West direction and is scraping pass North America at a rate of two Inches a year. About two-thirds of this movement occurs on the San Andrea Fault and some parallel faults- the San Action, Elisions, and Imperial faults† (â€Å"Southern California Earthquakes And Faults†, n. . ). Over time, these faults minor earthquakes.Let's talk about plate tectonics. There si x major plates and they are named after the continents that they are embedded in, such as North America, Africa, and Antarctic. The plates make out the outer shell of the earth called the lithosphere. â€Å"One way a mountain is formed is through convergent boundaries which is when plates serving land masses collide, the crust crumbles and buckles into mountain ranges† (â€Å"Plate Tectonics†, 1996-2014). Mountain ranges are also formed through divergent boundaries in the ocean. Magma from deep inside the earth's antler rises towards the surface and pushes apart two plates and mountains and volcanoes rise along the seam† (â€Å"Plate Tectonics†, 1996-2014). On January 17 1994 an earthquake rocks Los Angel's, California, ‘killing 54 people and causing billions of dollars in damages. The Northerner quake (named after the San Fernando Valley community near the epicenter) was one of the most damaging in U. S. History' (â€Å"Earthquake Rocks Los Angel's †, 2014). â€Å"According scientists using a new model to determine the probability of big quakes, California has more than a 99% chance of having a magnitude 6. r larger earthquake within the next 30 years† (â€Å"Earthquake Rocks Los Angel's†, 2014). How prepared are you for an earthquake? People with mobile homes and homes not attached to a foundation are at a much greater risk for damage. Buildings resting on unstable soil such as landfills are also at a much greater risk of damage. The Red Cross suggest that you: Become aware of fire evacuation and earthquake safety plans for all of the buildings you occupy regularly. Pick safe places in each room of your home, workplace and/or school.A safe place could be under a piece of furniture or against an interior wall way from windows, bookcases or tall furniture that could fall on you. Practice â€Å"drop, cover and hold on† in each safe place. If you do not have sturdy furniture to hold on to, sit on the fl oor next to an interior wall and cover your head and neck with your arms. Keep a flashlight and sturdy shoes by each person's bed in case the earthquake strikes in the middle of the night. Make sure your home is securely anchored to its foundation. Bolt and brace water heaters and gas appliances to wall studs. Bolt bookcases, china cabinets and other tall furniture to wall studs. Hang eave items, such as pictures and mirrors, away from beds, couches and anywhere people sleep or sit. Brace overhead light fixtures. Install strong latches or bolts on cabinets. Large or heavy items should be closest to the floor. Learn how to shut off the gas valves in your home and keep a wrench handy for that purpose. â€Å"(† Prepare For An Earthquake†, 2014) Now that you know all there is to know about earthquakes and how to protect yourself in them, you will better keep yourself protected from the dangers of them.

In A Period Of Rebirth And Restoration Of Traditional...

In a period of rebirth and restoration of traditional speculation into something completely new, Filippo Brunelleschi flourished as an uplifting architect. He joined Romanesque conventions, with the advanced age Renaissance intuition to make another and characterized style of design. One of Brunelleschi s most powerful works, the Pazzi Chapel, plainly delineated Roman impact on engineering amid the Renaissance. The Pazzi Chapel general plan was impacted by Brunelleschi s investigation of building outlines in Rome, geometric designing, and elaborate components, for example, sections, the significance of light, and curves. The considerable planner of the Renaissance would live on being known as the man who restored Roman style in†¦show more content†¦ (Stokstad 606) Brunelleschi s failure at losing the baptistery commission may represent his choice to focus his gifts on design rather than model, however true fundamental life experiences is inadequate due to subtlety of his lif e. ( the extravagant artist kept on chiseling, yet design was the predominant string in his expert profession.) Considering this, it was unexplained Brunelleschi s sudden move from his preparation in the Gothic or medieval way to the new compositional style. Perhaps it was essentially motivated by his surroundings, since it was in this period (1402-1404) that Brunelleschi and his great companion and stone carver Donatello purportedly went by Rome to concentrate the old remains. Donatello, nine years Brunelleschi s lesser, had additionally prepared to be a goldsmith. After Brunelleschi’s preparation, he eventually worked in Lorenzo Ghiberti s studio. In times past, journalists and logicians had talked about the greatness and decay of old Rome, yet it appears that until Brunelleschi and Donatello made their journey, nobody had concentrated the physical nearness of Rome s remnants in detail. In spite of the fact that Donatello remained a stone worker, the outing appears to h ave profoundly affected Brunelleschi, and he turned firmly and convincingly to architecture over the next decade. Committed to Santa Maria del Fiore, â€Å"Lady of theShow MoreRelatedAnglo-Saxon Heroic Poetry5673 Words   |  23 PagesGermanic society. The traditional epics (also called primary epics or folk epics) were shaped by a literary artist from historical and legendary materials which had developed out of the oral traditions of his nation during a period of expansion and warfare. To this group are ascribed the Iliad and Odyssey of the Greek Homer, and the Anglo-Saxon epic Beowulf . The literary or secondary epics were composed by sophisticated craftsmen in deliberate imitation of the traditional form. One such exampleRead MorePestel analysis of Thailand Essay4610 Words   |  19 Pagesserve as a building pole or even the city pillar, or the main pole of a royal residence, and it is used for the top of the royal baton of the supreme commander and on the top of royally granted regimental standards. The pods are components of traditional herbal medicines from ancient times. Moreover, the yellow flowers signify Buddhism, and yellow is regarded as the royal color, as well. The national flower is featured as a thick cluster of the golden blooms, with green leaves. PESTLE ANALYSISRead MoreSociology and Other Sciences7090 Words   |  29 Pagesissues: 1. How did religion contribute to the maintenance of social order? 2. What was the relationship between religion and capitalist society? These two issues were typically combined in the argument that industrial capitalism would undermine traditional religious commitment and thereby threaten the cohesion of society. More recently the subject has been narrowly defined as the study of religious institutions. In his article, The Origin Of Beliefs Émile Durkheim placed himself in the positivistRead MoreJohn the Baptist5770 Words   |  24 PagesLevite by genealogy. Life as a Priest John the Baptist was a Levite, but he was also given the distinct responsibility of priesthood. Even though he did not fulfill all of his priestly duties, John was preordained for this occupation through traditional lineage. Priests had specific responsibilities outside of the customary requirements of the Levites; they were in charge of guarding the interior of the temple from any intruders trying to enter. All priests came from the line of Aaron; thisRead MoreModern History.Hsc.2012 Essay25799 Words   |  104 Pagesindustrailaisation...also industrailisation in the 1930s was driven by the governemnt The influence of conservatism in the 1930s – an incomplete scaffold; more detail needed; but probably enough to write a paragraph or two in an essay on conservatism in the period 1919-1941. Conservatism became much less influential in the 1930s than it had been in the 1920s. Since many of the causes of the Depression were linked to conservative policies / philosophies, many conservative points of view lost credibilityRead MoreMarketing Mistakes and Successes175322 Words   |  702 Pagesthe manuscript left for the production process. We have tried to keep all cases as current as possible by using Postscripts, Later Developments, and Updates. A number of you have asked that I identify which cases would be appropriate for the traditional coverage of topics as organized in typical marketing texts. With most cases it is not possible to truly compartmentalize the mistake or success to merely one topic. The patterns of success or failure tend to be more pervasive. Still, I thinkRead MoreOne Significant Change That Has Occurred in the World Between 1900 and 2005. Explain the Impact This Change Has Made on Our Lives and Why It Is an Important Change.163893 Words   |  656 Pagesopening decades of the twentieth century and a major break from the prevailing dynamics of the cold war. In addition to the problems posed for conceptualizing the twentieth century as a discrete era of world history due to overlap with the preceding period and disconcertingly radical shifts in the course of global development in the 1900s, contradictory forces and trends, which perhaps more than any other attribute distinguish this turbulent phase of the human experience, render it impervious to

The Effect Of Interracial Adoption On A Child s Racial...

The Effect of Interracial Adoption On A Child’s Racial Identity In 1972 the National Association of Black Social Workers (NABSW) passed a resolution, which said, â€Å"Black children should be placed only with black families whether in foster care or adoption. Black children belong physically, psychologically and culturally in black families in order that they receive the total sense of themselves and develop a sound projection of their future.... Black children in white homes are cut off from the healthy development of themselves as black people.... We have committed ourselves to go back to our communities and work to end this particular form of genocide†(Silverman). Since then, family scientists have conducted extensive research on whether the negative affects of transracial adoption is as detrimental to the development of racial identify in children as the NABSW claims. Ultimately, many have come to the conclusion that it is better for a child to be in a loving family, regardless of race than to be orphaned. In this paper, I will outlin e arguments both for and against transracial adoption as well as offer suggestions on how parents can foster the development of a racial identity in their adopted child. Immediately after the NABSW report, numerous additional studies emerged, backing their claim. The Child Welfare League of America (CWLA) stated, in Standards for Adoption Service-1973, â€Å"In today’s climate, children placed in adoptive families with similar racial characteristicsShow MoreRelatedThe Challenges of Transracial Adoption Essay2059 Words   |  9 Pagesthousands of children in foster care, adoption means being part of a family. Adoption signifies a chance to be loved, wanted, and cared for properly. Every year thousands of children enter the foster care system. In the year 2010 alone, 245,375 children entered foster care, of that number over 61,000 were black. An astounding 30,812 black children were waiting for adoption in 2010 (AFCARS). With so many children needing homes, it would seem th eir adoption would be open to any and all loving familiesRead More Colorblind Love Essay2639 Words   |  11 Pageswitnessed the civil rights movement of the 1960’s. So why do interracial marriages still only account for 2.9 percent of all American marriages according to the latest U.S. Census data? Or more specifically, why do Black/White couples like Aretha and me account for only 0.7 percent? Of course there is no simple answer to this question; researchers and writers have been studying this phenomenon for decades. Understanding some history of interracial marriage helps begin to put things into perspectiveRead MoreRacine V. Woods1804 Words   |  8 Pagesthe apprehension of a six week old infant named Leticia Grace Woods, on October 20th, 1976, by C.A.S. of central Manitoba. Upon removing her from her mother’s custody, in an effort to protect her, she was placed in a foster home as stipulated in the Child Welfare Act, C.C.S.M., c. C80. After several months in foster care, Mrs. Woods’, Leticia’s mother consented to a year extension on her daughter’s stay in Society care, followed by an additional six month period. At which time Leticia was situated inRead MoreOne Significant Change That Has Occurred in the World Between 1900 and 2005. Explain the Impact This Change Has Made on Our Lives and Why It Is an Important Change.163893 Words   |  656 Pagesparadoxical shift. Its constitution of 1791 guaranteed the â€Å"natural and civic right† of freedom â€Å"to move about, remain and depart.† At the same time, it is credited with the â€Å"invention of the passport,† inasmuch as this new passport was a standardized identity document issued by a central government and required of all people moving within the nation.18 Trends toward liberal migration started to reverse with the exclusion of Asians from many white settler nations after the 1880s, the rise of medical Read MoreStephen P. Robbins Timothy A. Judge (2011) Organizational Behaviour 15th Edition New Jersey: Prentice Hall393164 Words   |  1573 Pagesand permission should be obtained from the publisher prior to any prohibited reproduction, storage in a retrieval system, or transmission in any form or by any means, electronic, mechanical, photocopying, recording, or likewise. To obtain permission(s) to use material from this work, please submit a written request to Pearson Education, Inc., Permissions Department, One Lake Street, Upper Saddle River, New Jersey 07458, or you may fax your request to 201-236-3290. Many of the designations by manufacturers

Bill Gates and Nolan Bushnell - Pioneers Of Computer...

Pioneers of Computer Programming When you think of 21st century computing, two things come to mind: Windows and video games. Learning Team A introduces you to the two men responsible for these phenomena Ââ€" Bill Gates and Nolan Bushnell. William Henry Gates III During that late 1960s and early 1970s, BASIC was one of the premier programming languages. At that time, Bill Gates and his friend Paul Allen made the commitment to learn BASIC by reading the user manuals. In exchange for computer time, they made an agreement with a local company called the Computer Center Corporation to provide de-bugging services for software on the companys DEC machine. This time was used not only to search for errors, but also to study the operating†¦show more content†¦After seeing the magazine article, Gates contacted Ed Roberts of the MITS Company and proposed to that he write some BASIC software for the Altair. The MITS personnel were impressed with the initial work that Gates and his friends had completed and decided to meet with them to test the teams code. After a successful demonstration of the code, Gates made the decision to leave school and move to Albuquerque and work with MITS on the Altair. After the move Gates would devote his energies to Microsoft, a company that he would establish in 1975 with Allen. Guided by a belief that the computer would be a valuable tool on every office desktop and in every home, they began developing software for personal computers. Microsoft would sell its BASIC system to MITS, NCR and Intel. It proved to be more cost effective for companies to buy Microsoft software rather than spend the time and money to develop their own. In January of 1979, Gates made the decision to move Microsoft to Seattle, Washington. Gates believed that part of the country was better suited for recruiting programmers. Microsoft adopted a new standard for hiring employees; the company decided to hire only the most gifted and intelligent new college graduates rather than experienced programmers. The company was looking for talent that came with no previous programming biases. The expansions of personnel would lead to the development of a

Policy for the Melting Pot Restaurant

Question: Explore policy for The Melting Pot Restaurant. Answer: Introduction: The current paper is deeply focused on developing Equitable Reward Structure as well as Base Pay Structures for The Melting Pot Restaurant. In order to address the developing equitable reward structure and base pay structure, the paper outlines the basic principles for evaluating the job. In addition, comparing and contrasting the job ranking method and point method for evaluating the job. The paper will determine equitable remuneration policy with the help of collected data from the market. The paper also presented relationship between market rates and mid-points. This paper discusses the process of translating the policy for base pay positioning. It also focuses on the market allowance working. Moreover, the pay grades and pay bands are effectively compared and contrasted. Progression policy is also discussed in this paper. The preference between team based incentives and individual incentives is explained through the paper. Team based incentives as well as individual incentives ar e also illustrated here. The paper has been able to address three cost effective employee benefits. 1. Four Basic Principles of Job Evaluation: There are four basic principles which are highly influential for providing a clear understanding of the respective task (EL-Hajji, 2015). These principles are Definition and Evaluation: The definition of the job must be clear to the employees so that they can effectively perceive the job description. In addition the definition must be properly identifiable and can be distinguished properly so that the employees dont get confused. Job understanding: It is the basic responsibilities of job evaluators which is deeply concerned with achieving the most crucial understanding in relation with the job. The job evaluators must have the methodological perception regarding every kind of task (Kutlu, Ekmekiolu Kahraman, 2013). Concern: It is evident that the evaluation of the job must be concerned with the job itself rather than focusing on the person. The most principle of the job evaluation is focusing on the associated person. Assessment: The evaluation of the job is properly assessed in such a manner that can be highly accepted with the competent people. Moreover, the job evaluation is generally assessed by proper judgment as well as scientific aspects. 2. Comparison and Contrast between job ranking method and point method: The simplest form for evaluating the job is the ranking method. The major function of the job is comparing between various jobs till every job has been properly ranked and evaluated. The ranking process is operated according to the order of ease that is highest to lowest or simplest to hardest. The major factors which are most influential in respect to judging the jobs are responsibilities, demands and duties. The ranking process is operated through a whole job rather than focusing on different factors which are compensable (Hendry, 2012). On the other hand, point method is the most used process of evaluating the job. The major factors which are crucial for breaking down the jobs are effort, skill, knowledge, training, responsibility as well as hazards. This particular points rating method allocate the points on the basis of these factors. The major concern regarding the point allocation is importance in respect to job performance. The jobs which acquire similar pay grades are categorized into same place. In the context of categorization, the points are summed which is considered as index of relative significance (Foster, 2014). The point method is therefore evidently most profitable for the organizational success. The employees are focused on improving their skills and job performance which in turn enhances overall organizational performance. 3. Determining an equitable remuneration policy: The collected market data regarding the salary of the similar restaurants has been used for developing the scatter-gram. The scatter gram will represent the salary range of the various employees in the contemporary restaurants. The scatter-gram will contain a line of best fit which is also referred as central tendency of the salary scale. Chart 1: Scatter-gram of the market data of salary (Source: Created by the Author) The line of best fit depicted in the scatter-gram shows the most centrally aligned salary amount via the chart. This way the scatter gram can depict that the major salary structure which is practiced in the market. The line of best fit indicates the most agreeable salary structure for The Melting Pot Restaurant (Purce, 2014). In this context the equitable remuneration policy is deeply impacted by the scatter gram as well as line of best fit. The company will be able to construct their most attainable structure of the salary. In other word it can be stated that the line if best fit reveals the salary trend of the markets which is most influential in respect to developing the reward structure as well as base pay structure of The Melting Pot Restaurant (Bennett Ho, 2014). Grade Median 1 33750 2 37750 3 47025 4 80000 Table 1: Median ranges for market data (Source: Created by the Author) 0-25 25-50 50-75 75-100 23500 35000 46500 70000 30000 39520 50000 80000 32000 40000 60000 90000 Table 2: Quartiles ranges for market data (Source: Created by the Author) Chart 1: Upper quartile, median and lower quartile range for market data (Source: Created by the Author) According to the developed scatter-gram it can be observed that the grade 1 employees of Pippa restaurant are remunerated within the range from $23500 to $32000. However, it is also displayed in the scatter-gram that the restaurant is mostly focused with concentrating the salary scale near $30000. At the same time, the grade 2 employees are remunerated with the salary range from $32000 to $39520. In addition, the salary structure of grade 2 employees are concentrated around 35000. Moreover, the grade 3 employees are paid within the range of $35000 to $50000. The scatter-gram also represents that maximum employees are remunerated below $40000. Furthermore, the salary structures of grade 4 employees are remunerated either below $50000 or below $60000. In addition to that, Pippa restaurant mainly hires the grade 5 employees with a single remuneration amount i.e. $80000. 4. Relationship between mid-points and market rates: The mid points of the salary range are referred to the average point of the salary scale which represents the equality of the salary structure at the time of construction of the salary. The mid points also represent the central tendency of the entire salary structure at Pippa restaurant. This midpoint of the salary structure is considered as the average pay of the Pippa restaurant. At the same time the market rate entails the standard rates which are normally practiced in the restaurant market (Storey, 2014). The market rate is mainly tended to be concentrated towards the central point of the range. At the time of recruitment attracting the talents along with saving the employee cost mostly drives the salary structure towards the middle of the salary range. In this context, it is also noted that the market competition forces the companies to offer similar range of salaries to the employees. Therefore, it is evident that the market rate as well as mid point is deeply related. The midp oint can effectively indicate the market rate as well (Jiang et al., 2012). 5. Relationship between well payment and base pay positioning: The base pay positioning refers to a certain amount of fixed money which is paid to the employees in order to ensure that they carry out their responsibility with an effective sincerity. Now, the decision of paying the experienced and efficient employees with a grater base salary structure will certainly uplift the motivation level of the employees (DeCenzo, Robbins Verhulst, 2015). This scenario will eventually increase their inclination towards completing the task with an enhanced sincerity. The Melting Pot Restaurant will position the pay ranges near around the market rate so that the employees will be attracted towards the restaurant and the organization will not be affected economically (Renwick, Redman Maguire, 2013). 6. Concept of market allowance: The market allowance refers to the process by which the organization can remunerate the employees higher in comparison with the prescribed level. The market allowance is also quite effective for enabling The Melting Pot Restaurant to compete in this contemporary market. In this particular competitive market The Melting Pot Restaurants has perceived the importance of the marketing allowance as effective basis of attracting as well as retaining the talented employees. There are two different kinds of allowance which are most commonly practiced in this world (Alfes et al., 2013). These allowances are attraction allowances as well as retention allowances. Attraction Allowance: The attraction allowance is known by the additional payment which is used for attracting the key talent for the organization. The attraction allowance is highly effective for emphasizing on the uncompetitive remuneration in order to influencing the talented employees to join the organization. Retention Allowance: The retention allowance is referred to the additional payment which is used for retaining the employees. The employee turnover is greatly critical for the business achievement as well as aims and objectives of the organization. The retention allowance is considered as the most important factor in the case of emphasized uncompetitive remuneration for influencing the talented employees not to leave the organization (Mello, 2014). 7. Comparing and contrasting the pay grades and pay bands: The pay grade is referred to the amount of remuneration which is paid to the employees in order to compensate the employees (Buller McEvoy, 2012). The major factors in the context of defining the pay grade are performed responsibilities of the job, exercised authority of the job along with total time taken for performing the job. On the other hand, pay band refers to the range of the compensated amount to the employees. Whilst the pay band is defined by the range of job category the pay grade is considered as the basic pay for individual employees (Hoque, 2013). 8. Explanation of progression policy: The progression policy of The Melting Pot Restaurant is aimed to construct the process of payment as well as reviewing the salaries of staff (Nickson, 2013). There are several different routes which is able to outline the progression of the salary. In addition, it also formulates employees responsibilities in order to achieve the forecasted success of restaurant. The progression rules are also responsible for guiding the duties of the employees under the rules of rewarding system. 9a. Characteristics of team based incentives and individual incentives: The team based incentives refer to the reward remuneration payment system based on the performance of the entire team (Riley, 2014). The major characteristics of team based incentives are Team based incentives are applied at team level on the basis of team size. The team based incentives is highly useful for recognizing the contribution of employees within the team The team based incentives is considered as the means extrinsic motivation. The individual incentives refer to the reward remuneration payment system based on the performance of individual. The major characteristics of the individual incentives system are Individual incentives are applied in the case of individual employees. Individual incentives can be used for recognizing the efforts of individual employees The individual incentives are considered as the basis of intrinsic motivation. 9b. Justification of team based incentives: The team based incentives is highly beneficial for several crucial activities in the context of achieving the success for the organization. It is observed that the team based incentives are highly effective for encouraging the team members so that the employees can work together in an effective fashion (Jiang et al., 2012). In addition to that, the team based incentives can be proved to be most crucial for the cooperation as well as collaboration between the team members. The teams which are highly collaborated can be most effective for using the skills as well as abilities in an effective fashion. Team based incentives is also quite popular for enhancing the efforts of the team members aiming not to hinder the performance of the team members so that the overall team can gain the incentives. The motivation is also quite impacts the workplace environment of the entire organization. The organization is also benefitted by the reduced employee turnover rate due to the attractive total team based incentives scale (Ulrich, 2013). Considering these most crucial advantages The Melting Pot Restaurant has selected the team based incentives as their primary incentives method. The team based incentives will be quite helpful for The Melting Pot Restaurant in the context of achieving their goals with a increased team performance as well as reduced employee turnover rate. 10. Three cost effective benefit for the employees: The total remuneration policy for The Melting Pot Restaurant has considered three major benefits for the employees which will not be directly paid by the employees. In addition it will be cost effective for the employers. These cost effective benefits for the employees are Health Maintenance Program: The employers will be able to generate the wellness program for maintaining the health condition of the employees. The employees will be deeply satisfied with the organizational support in the context of their health maintenance. Work/Life Balance Program: The organization can help the employees with a support to maintain their work/life balance program in a significant way. There are lots of cost effective processes which are crucial for programming the work/life balance. These processes are paid time off program, telecommunication arrangements as well as flexible schedule (Kehoe Wright, 2013). Short Vacation Tour: The restaurant can also offer a short vacation tour to the employees every year. This way the employees will be motivated as well as encouraged to contribute to the success of the companies. This process is highly cost effective as the restaurant will provide a part of payment of the tour program (Mondy Martocchio, 2016). Conclusion: The above described paper has been highly focused to construct the total remuneration policy for The Melting Pot Restaurant. It has mainly focused on various aspects of the Equitable Reward Structure as well as Base Pay Structure. There are various crucial activities which are influential for the development of the entire total remuneration policy. The paper has addressed market allowances, pay grades, incentives selection as well as cost effective benefits for the restaurant. Reference List: Alfes, K., Shantz, A. D., Truss, C., Soane, E. C. (2013). The link between perceived human resource management practices, engagement and employee behaviour: a moderated mediation model.The international journal of human resource management,24(2), 330-351. Bennett, J. M., Ho, D. S. (2014). Human resource management. InPROJECT MANAGEMENT FOR ENGINEERS(pp. 231-249). Buller, P. F., McEvoy, G. M. (2012). Strategy, human resource management and performance: Sharpening line of sight.Human resource management review,22(1), 43-56. DeCenzo, D. A., Robbins, S. P., Verhulst, S. L. (2015).Fundamentals of human resource management. Wiley Global Education. EL-Hajji, M. A. (2015). The Hay System of Job Evaluation: A Critical Analysis.Journal of Human Resources,3(1), 1-22. Foster, E. C. (2014). Human resource management. InSoftware Engineering(pp. 253-269). Apress. Hendry, C. (2012).Human resource management. Routledge. Hoque, K. (2013).Human resource management in the hotel industry: Strategy, innovation and performance. Routledge. Jiang, K., Lepak, D. P., Han, K., Hong, Y., Kim, A., Winkler, A. L. (2012). Clarifying the construct of human resource systems: Relating human resource management to employee performance.Human Resource Management Review,22(2), 73-85. Jiang, K., Lepak, D. P., Hu, J., Baer, J. C. (2012). How does human resource management influence organizational outcomes? A meta-analytic investigation of mediating mechanisms.Academy of management Journal,55(6), 1264-1294. Kehoe, R. R., Wright, P. M. (2013). The impact of high-performance human resource practices on employees attitudes and behaviors.Journal of Management,39(2), 366-391. Kutlu, A. C., Ekmekiolu, M., Kahraman, C. (2013). A fuzzy multi-criteria approach to point-factor method for job evaluation.Journal of Intelligent Fuzzy Systems,25(3), 659-671. Mello, J. (2014).Strategic human resource management. Nelson Education. Mondy, R. W., Martocchio, J. J. (2016).Human Resource Management Fourteenth Edition. Pearson Education Limited. Nickson, D. (2013).Human resource management for hospitality, tourism and events. Routledge. Purce, J. (2014). The impact of corporate strategy on human resource management.New Perspectives on Human Resource Management (Routledge Revivals),67. Renwick, D. W., Redman, T., Maguire, S. (2013). Green human resource management: a review and research agenda*.International Journal of Management Reviews,15(1), 1-14. Riley, M. (2014).Human resource management in the hospitality and tourism industry. Routledge. Storey, J. (2014).New Perspectives on Human Resource Management (Routledge Revivals). Routledge. Ulrich, D. (2013).Human resource champions: The next agenda for adding value and delivering results. Harvard Business Press.