Microeconomic Principles Essay Example | Topics and Well Written Essays - 1000 words

Microeconomic Principles - Essay Example Private property exists in the free market economy, while there is no existence of private property in the command economy. Free markets promote important virtues and they, however are treated with less attention. Free markets promote integrity and cooperative values. A free market system has its reliance on property rights and provides the best possible opportunities for repeat exchange. The social market economy is a type of free market based economy, which is based on a free price system and private property. This also includes government regulation, which promotes competitive markets. But social inequalities or inequalities with respect to income are results of free market economies or free market price systems. Private property is completely different from personal property, because private property is considered as a means of production unlike personal property. â€Å"In addition, the free market performs a constant process of selection with respect to the ownership of capital † (Reisman 8). Another virtue of the free market price system is that this type of price system penalizes people for making irrational choices, especially with respect to financial loss. 2) President Barrack Obama has provided a number of speeches with respect to international trade.... Obama in his various speeches on international trade also said about various policies relating to various countries like, US should tighten its trade sanctions with Zimbabwe and how it should develop measures to increase trade with India. To shorten, Obama has released a number of speeches with respect to international trade. 3) Economists are critical of price floors and price ceilings. A price ceiling is the upper limit of the price of a commodity above which no seller can raise a price. Price ceilings are usually set below the market price of a product. Price floors are completely opposite to price ceiling. Price floor is the minimum price for a product and this is done to benefit the sellers. Both these measures are done in order to have a control over the price of products. Economist are critical of both price floors and price ceilings because somehow they viewpoint that these prices should be established through market equilibrium only. 4) A wage is compensation, typically fina ncial, received by employees in exchange for their work. Compensation in conditions of wages is specified to workers and compensation in terms of salary is given to employees. Compensation is an economic benefit given to workers in return for the services given by them. The labor supply largely resolved by population development and migration; i.e. as labor supply increases, population development increases. Labor demand mostly determined by the growth and size of the financial system, in terms of more economic development, more business actions, more jobs formed. The wages are mainly of two types, they are Market-determined or equilibrium wage and Government-mandated minimum wage. Market-determined wage means the level of

Identify essential qualities the Personal security Detail Essay

Identify essential qualities the Personal security Detail professional, past and present, must possess to better achieve his mi - Essay Example In the past, the training took longer periods and more strategies were used to instill the best qualities in aspirant security personnel. The individuals are trained to be obedient, uphold dignity and have the beauty of gentleness. They are trained in knightly exercise, at that age women were weak and submissive and their men were supposed to protect and fight for them. After 5 years of faithfulness in duties and faced anger, they received knighthood sonority and a solemn ceremony conducted. The knight aspirant received a formal that was of baptism sort to symbolized washing away of sins. Clad in white and a red robe that symbolized the blood that he would shed to protect his community or his master. The mailed fist of the emperor is the military’s force threat. The emperor’s mailed fist and shining armor were built in the spirit of self defense and precaution security personnel in the past did not have a vast of activities they would engage in as compared to the presen t personnel. Theirs was mainly protection of their family, community and country. In the present time, there is a diversity of security needs. The security personnel of the present age go through training for a shorter period compared to the past. The training is rigorous just like the past but technological advances have helped in the training process. The best of the security personnel must be in excellent health as this ensures their efficiency. Good health allows them execute their duties with no hitches at all. Good interpersonal skills are relevant to ensure ease of communication between them and any other party. They must have personal integrity with the highest ethical standards as required in the military force. They must have personal ability based on developed self skills and high intellectual capacity. Personal structure is also important as it enables them portray positive self image and self worth. Honesty, sincerity, industrious and cooperation are also very important . They must have a strong will and abiding self confidence because it is essential for them to create and maintain desire and motivation to be security personnel. They should have sound general knowledge or specialized education which gives them an edge in the security field. Imaginatively, creativity and a high foresight in order to develop new angles of approach to security problems are one of the best qualities that they should possess. Good manners reveal a sense of refinement and impulsive mannerisms must be avoided. In recent times security personnel have been known to be rather aggressive, harsh and cruel to members of the public. Even though aggressiveness is partly necessary, being cruel only worsens matters and an innocent public member may fear to mention their security issues for fear of being misunderstood or reprimanded by the security people. They must be loyal, risk takers, well rounded in knowledge, open minded, confident and have eloquence in the language they use depending on the region they are serving as security personnel. They must have tact, i.e. know the right thing to do, at the right time and in the right way. Broad knowledge of the military force is also of essence because without understanding the field one is, it would be difficult to serve as required. They must be aware of the security needs where they are, any risks or uncertainties in providing their services and measures they can take to handle

Analysis Report on the Airline Industry The Strategic Management Essay

Analysis Report on the Airline Industry The Strategic Management process - Essay Example Strategic options would be used to evaluate the growth and expansion of the industry to establish if the industry has a competitive edge or not and if it measures up with its competitions. . This report employs a methodological approach with huge implications for the reliability of findings while a whole lot of secondary data provides for all the analytical views and conclusions of this paper. The prime reason behind preparing the report is to gain insights into the development of airline industry internationally amidst economic and political turbulences. Airline industry is a growth factor for tourism industry and accounts for the lion’s share of the GDP of many nations (Page 2009:218). Delving deep into the airline sector could throw much light on how economies are developing and what solutions and means are available to them to handle increased competition, globalization and financial downturn. The findings of the report have presented us with favourable results that could motivate the airline carriers and could pave the way for future practices to be developed in airline industry. This paper seeks to present a very clear view in enabling the reader to have a better understanding of the global airline industry’s environmental business climate. In doing this various firms and regional markets that make up the industry are looked into, by examining the competition between the airline operators (service providers), consumers, regulatory implications, weakness of different sectors and regions involved, homogenous threats, the negative and positive trends coming up in the industry and a forecast for the future, if there would be growth or reduction. Importantly, it views the challenges a new provider (entrant) could face within the present industry condition. The industry at the moment is passing through a period of change caused by revolutionary restructuring in the industry, this occurs

Law of Electronic Commerce and the Internet Essay - 1

Law of Electronic Commerce and the Internet - Essay Example The taxation, customs, trade practices, industrial law, bankruptcy, immigration, administration law, patents, copyright, environment law, sexual and racial discrimination, access to information will be dealt by Federal court of Australia. Federal court will hear the class actions that involve seven or more people who have claims against the one defendant. The family court will deal with family laws. It deals with divorce, division of property and maintenance, child related matters, determining parenting orders and plans. The court to appeal on the decision of family court is high court. The magistrates court of the federal legal system deals with providing the action for litigants and eases the work load of the federal and family court. Thus it works as a complex lessening part in the federal judicial system as the jurisdiction is concurrent with family and federal court. 1 The state legal system's first stage is the magistrate court. The state coroner's office, victims of crimes assistance tribunal, work related injuries and perin courts are part of this system. The majority of the criminal and civil matters that proceed to court will be dealt by magistrate court. The offences of less serious in nature will be dealt by this court system. It is having civil jurisdiction and is the immediate court that can be approached in any case. The next stage in the state legal system is the county court of Victoria. It has both criminal and civil jurisdiction in concurrent with Supreme Court. The person who is not in agreement with the magistrate's court can appeal to county court and the appeal court for this is supreme court of the state. The supreme court of any state will have trial and appeals division that deals with the differentiation of the disputes and appeals. The appeal court for this part of the court system in the state legal system is high court of the country. The high court is the top of the legal hierarchy in Australia. As a result it has both criminal and civil jurisdiction and is the ultimate court to appeal. It can resolve the interstate disputes and thus the federal system prevails over the state legal system. References 1. law institute Victoria, 2007, Australia legal system, Law Institute Victoria, ,electronic, 3-9-07, http://www.liv.asn.au/public/legalinfo/court/ 2. Law institute Victoria, 2007, Australia legal system, law institute Victoria, ,electronic, 3-9-07, http://www.liv.asn.au/public/legalinfo/court/court-The-2.html Question 2 Jurisdiction is the power of the court or the right of the administration that can apply their laws on a particular context or issue. In the absence of internet and e commerce, the Jurisdiction used to depend on the geographical context of the occurrence of the incident. The advent of internet is making the concept of jurisdiction more complex and the administrations are compelled to make new laws regarding jurisdiction in the issues involving internet. In relation to internet there are contexts that raised the question of the authority of the courts in various places. As the electronic communication involves the border crossing the internet is borderless. This needs a definition of jurisdiction of its own without relating to the previous understanding of jurisdiction. The law used to deal with the physical movement or presence that

Business Plan for a New Firm in the Music Industry Essay

Business Plan for a New Firm in the Music Industry - Essay Example The proliferation of technological advances in the current world market had facilitated numerous changes in the way business is done. The music industry has been revolutionized by changes in technology that ushered the internet which in turn spurred the introduction of peer to peer architecture and music file sharing. The digitization of music is also apparent in the advent of CDs, VCDs, MP3s, and the most recent advancement which is called streaming technologies. It is irrefutable that a new music industry has evolved, a sector, which began to take advantage of the benefits offered by these revolutions [1]. The utilization of new business models and strategies are essential in order for a business entity to efficiently compete in the current market environment. The new trend in the music industry posted radical changes in the overall industry value chain. It has streamlined the value chain by effectively lessening or fully eradicating some of the previously important players [2]. The most significant of these is the obvious displacement of traditional marketing channels by more technologically advanced ones. Brick and mortar distribution channels are now being complemented or fully replaced by online distribution systems [3]. These new trend necessitate the conceptualization and implementation of innovative business strategies to become profitable, capture a sizeable market share, maximize shareholder value, and compete head-on with other industry leaders. This paper will serve as a platform of a business, which will take advantage the advancement of technology in order to effectively compete in the new music industry. The creation of the company will show the responsiveness of a business entity to the new trend and changes in its environment. The Company The new changes in the music industry will give rise to the conceptualization of a company which will be known as eMusic Company. Business Operation The firm will be involved in the promotion and distribution of music of various artists of music labels and independent ones. Utilizing the present technologies available, eMusic will be employing an online distribution system of music in physical and digital format by establishing and building its own website where consumers can access their products and services. The website will offer a user-friendly interface where music lovers can find the songs that they want with the most convenience and speed possible. Realizing the new trend within the music industry, specifically the streamlining of the value chain, the company will try to bring artists with music fans directly. This will be done by adding a system where artists can directly upload their tracks and albums online to be viewed and heard by anyone online. Market Scope The evolution of a global market through the rapid spread and utilization of the internet technology will allow the company to service anyone in the world. The market scope therefore is a broad and as diverse as the total number of music lovers who have access to the world wide web. This eliminates the ageing population, as they are not usually familiar with the new technology. The most particular market segment to be serviced therefore, is mostly the young and middle-aged population. I. Competitive Environment (current) Figure 1 shows the recording industry's distribution chain. Since eMusic will be involved not only in the distribution but also promotion of music by various artists, it will be competing both with music producers (labels) and distributors. Production Production of music is currently undertaken by record labels which can be neatly classified in four major categories-major labels, independent labels, microlabels, and vanity labels [4]. 1. Major Labels Major labels are comprised of recording companies with over 100 artists. The labels' large number of artists implies a broad array of musical styles. Having huge financial muscle, these usually have national or international distribution

Balanced Scorecard & Tableau de bord Essay Example | Topics and Well Written Essays - 1500 words - 1

Balanced Scorecard & Tableau de bord - Essay Example rspective regarding performance measurement systems, which are usually implemented with respect to their strategic and organizational relevance - their cultural and ideological backgrounds being generally disregarded. In addition, this analysis provides some insight into the more general question of the transferability of management methods. Over 20 years ago Steven Kerr wrote an article entitled “On the Folly of Hoping for A and Rewarding B”. The paper, now considered a “classic”, described how many companies performance measurement systems were rewarding different behaviors than the ones they hoped to obtain from their employees. This issue has received much attention over the last few years. In particular, Robert Kaplan and David Norton have published a series of three Harvard Business Review articles proposing a specific framework, called Balanced Scorecard, to facilitate the translation of strategy into action. The idea of having some form of balanced picture of company performance is not new in itself. Many companies have for years tracked and reported multiple indicators. Further, many countries have also had particular traditions. In France, for example, companies have been using a related tool called “Tableau de Bord” for over 50 years. The paper reviews and compares Tableau de Bord and Balanced Scorecard. The authors conclude that Kaplan and Nortons Balanced Scorecard represents a welcome addition and goes further than what most companies and countries were doing. The Balanced Scorecard approach to management control, as developed by [The Balanced Scorecard: measures that drive performance. Harvard Bus. Rev. 1992 (January–February) 71], has generated a great deal of interest, at least in academic circles and in consulting firms, and it has been promoted by its authors as a novelty. This is surprising for French accounting scholars and practitioners who developed a similar technique in the 1930s called the Tableau de bord. This paper critically

Art is life Essay Example for Free

Art is life Essay Art is life, it is beauty, it is emotion, it is you, it is me, it is everything. Art defines all that we are, and all that we could become. Art is of the past and of the future, of the influences of our daily lives, of our pasts combined with who we are today. Art is an indescribable joy, an expansion of the mind, body and soul. We are art, every last individual of the human race. Art comes in the form of music, dance, theater, painting, drawing, blowing, throwing, and even in the math equations or scientific experiments of the right brained population. Art is feeling, seeing, smelling, tasting and hearing. Art is here to titillate our senses, to create emotional and physical reactions to the viewer. Art is healing. Art is loving. Art is†¦ everything. The Value of Art After a distinctly self-contemplative night, I began to wonder what it is that attracts people to art. Certainly I consider myself an artist of sorts†¦ but what is it that makes me an artist? Why do I practice art? Why does anyone immerse themselves in abstract activities that, for the most part, do not add to financial security or other measurable values? We know that art has been around before written language. Ancient carvings and cave-wall paintings attest to an early drive to participate in artistic endeavors. I would say that our skills as artists have improved since the first cave paintings†¦ but I think there must be the same seed of creativity that connects long forgotten ancestors and modern artists. I think that the most obvious similarity is that dedicated artists tend to create art that reflects important aspects of their lives. When it comes to ancient man, what could have been more important than food and reproduction? Ancient art is ripe with images of hunting and pregnant women. As human society evolved into more stable communities, the art changed. Over time the focus on survival was supplanted with self-emulation. In ancient Egypt, for example, the art turned to worshipping the value of great kings and all-powerful gods. The same happened in most cultures. I doubt that common slaves of Egypt felt that preserving kingly honor for eternity was a motivating factor; slaves probably would have produced an entirely different art than what we  find in tombs had they the resources to create art. What is telling is that the art that survived from ancient times reflects directly the values of the people producing and preserving it: in terms of Egypt†¦ it was of the Pharaohs. European Medieval art reflects a mixture of pagan and Christian ideals. We can deduce that local kings whose roots were largely pagan mixed with the influence of Rome. The artistic work commissioned throughout this time is a constant reminder of those influences. Take this on up to our own time. An important note to take is that as the traditional religious values of historic importance in the west have been challenged in intellectual circles, the focus of art has strayed. Prehistoric art was focused on life and death†¦ ancient art turned to the afterlife and mysticism; modern art has no focus. I am confident that mass media and the internet have a large role in the change†¦ perhaps we are still too early in the new era to be able to define the motivating factor behind the art that will last; but I feel that the reality is that art has no focus in our age because it is not the secluded craft of the gifted and appointed.