Psittacosaurus - Facts and Figures

Psittacosaurus - Facts and Figures Name: Psittacosaurus (Greek for parrot lizard); pronounced sih-TACK-oh-SORE-us Habitat: Scrublands and deserts of Asia Historical Period: Early to middle Cretaceous (120 to 100 million years ago) Size and Weight: About 3 to 6 feet long and 50 to 175 pounds, depending on species Diet: Plants Distinguishing Characteristics: Short, blunt head with curved beak; small horns on cheeks About Psittacosaurus As you may have guessed from its name, Greek for parrot lizard, what set Psittacosaurus apart from other dinosaurs of the Cretaceous period was its distinctly un-dinosaur-like head. This plant-eaters curved beak made it somewhat reminiscent of a parrot, but otherwise, its squat noggin was distinctly tortoise-like. (One shouldnt draw too much from this analogy; Psittacosaurus, and other ornithischian dinosaurs like it, werent directly ancestral to modern birds, an honor that belongs to saurischian dinosaurs.) Although its often depicted in a four-legged posture, paleontologists believe some species of Psittacosaurus (there are at least 10 currently named) walked or ran on two legs. (A new study concludes that this dinosaur scuttled around on four legs as a juvenile, then assumed a bipedal posture thanks to a growth spurt in its hind legs.) Psittacosaurus seems to have led a relatively quiet life, although the horns on its faceprobably a sexually selected characteristicindicate that the males may have engaged in combat with each other for the right to mate with females. Theres also solid evidence that Psittacosaurus cared for its young after they hatched, like the distantly related duck-billed dinosaurs Maiasaura and Hypacrosaurus. By the way, you wouldnt know it from its small, unprepossessing appearance (six feet from head to tail and 200 pounds, max, for the largest species), but Psittacosaurus is classified as a ceratopsianthe family of horned, frilled dinosaurs the most famous members of which were the much later Triceratops, Protoceratops, and Styracosaurus. In fact, Psittacosaurus was one of the most basal ceratopsians, predated only by the late Jurassic Chaoyangsaurus and itself a close cousin to a bewildering array of proto-ceratopsian genera, including Yinlong and Leptoceratops.

Advertising in Monopolistic Competition and Oligopoly

Advertising in Monopolistic Competition and Oligopoly Monopolistic Competition Advertising is a technique used by firms in monopolistic competition to create product differentiation and gain some control of the market, and as a result, charge a higher price. Excessive advertising will serve to inform consumers about the physical difference in the product and the perceived difference will lead to increased product differentiation.Advertising We will write a custom essay sample on Advertising in Monopolistic Competition and Oligopoly specifically for you for only $16.05 $11/page Learn More If advertising convinces customers that the product is superior to the competitor’s then the firm would charge a higher price (Arnold 241). Advertising will increase demand and reduce demand elasticity. The current profit maximizing output is given by Q at a price P; therefore, advertising will increase the quantities of the product the consumers are willing to purchase leading to a shift or a move in the demand curve t o a higher level. The new demand curve will correspond to higher levels of quantity demanded and the prices given by Q1 and P1 (Arnold 245). In a monopolistic competition the firm faces a comparatively elastic demand, and this limits the prices that can be charged on the product. In order to reduce demand elasticity, the demand curve will be relatively steeper implying that consumers are likely to change their quantity demanded as a result of a change in price. As illustrated in the diagram the firm can now charge a slightly higher price P1 for the same quantity, this means the firm can collect more revenues for the same quantity Q sold at a profit maximizing level of output (McConnell and Brue 494). However, a firm cannot maximize profit when faced with inelastic demand because the marginal revenue (MR) is negative, implying that the marginal cost (MC) would be negative. Such a situation is not possible, where marginal revenue (MR) and marginal cost (MC) are both negative (Arnold 2 46). Excessive advertising could lead to inelastic demand and the firm will have to increase the price in order to make demand elastic because profit is not maximized when demand is inelastic. (McConnell and Brue 489). Advertising is expensive, and the firm will keep on advertising as long as the revenues generated from advertising are more than the cost of advertising. As a result of advertising, demand may increase and become inelastic, and, on the other hand, the marginal cost (MC) and average cost (AC) are likely to rise at the same time. Advertising in a monopolistic competition is excessive and as long as revenues per product are more in comparison to increase in average cost per product it may not result in loses. Firms in a monopolistic competition market will use advertising to maintain its profits because advertising affect the products of the firm by increasing its demand.Advertising Looking for essay on advertising? Let's see if we can help you! Get your first pa per with 15% OFF Learn More Oligopoly The Oligopolist can increase its market share through advertising, and they compete on the basis of advertising rather than on pricing (McConnell and Brue 492). Excessive advertising by the Oligopolist is used as a barrier against entry of other firms. It is also used to inform consumers of new products in the market. Advertising also leads to increased output pushing down the average total cost (ATC) curve towards the productive efficiency point, where average total cost (ATC) is minimum. Advertising may also lead to manipulation as opposed to informing consumers. In order to understand the interdependence behavior of oligopolistic firms the technique of game theory is used as illustrated in the diagram, it shows that the two firms are better off colluding than competing. At the top left shows that both firm A and B could earn 200 dollars profit each if they choose to advertise. At the right lower quadrant, the two firms can re ceive 250 dollars each if they both choose not to advertise, because there are no costs for advertising (McConnell and Brue 496). At the lower left quadrant firm B decides to advertise while firm A does not advertise and, therefore, firm B will earn 350 dollars profits and firm A earns 100 dollars profits. This is because advertisement attracts customers from firm A to firm B. At the top right quadrant firm B does not advertise while firm A decides to advertise, therefore; firm A receives 350 dollars profits while firm B receives 100 dollars in profits because customers are attracted away from firm B. On the other hand, if the two firms chose to collude to advertise they would each receive 250 dollars profits. In oligopoly, there are few dominant players in the market and each cannot fully influence the market independently unless they collude to influence and affect the price and demand. Advertising in an oligopolistic firm is used to increase both market share and total demand.Adv ertising We will write a custom essay sample on Advertising in Monopolistic Competition and Oligopoly specifically for you for only $16.05 $11/page Learn More In an attempt, to gain bigger market share Oligopolist will engage in fierce advertising competition trying to outdo each other. (McConnell and Brue 494). This scenario makes advertising in the oligopolistic markets to be extremely high. It is difficult to tell if advertising leads to in improved consumer benefits and efficiency. However, if advertising results to more sales and increased output, this could lead to efficiency of the firm. It is costly to advertise and may lead to improved efficiency if costs are less than the benefits from sales. Advertising may have no direct relation with the benefits to the consumer, however, if increased sales arising from advertisement leads to reduced prices, then customers will enjoy some benefits (McConnell and Brue 487). Arnold, Roger A. Micro Economics. 10t h ed. Washington, DC: Cengage Learning, 2010. Print. McConnell, Campbell R. and Stanley L. Brue. Economics: Principles, Problems, and Policies. New York, NY: McGraw-Hill/Irwin, 2005. Print.

Good Ethics in Good Business Assignment Example | Topics and Well Written Essays - 3000 words

Good Ethics in Good Business - Assignment Example There are conflicting studies regarding the link between good ethics and profitability in the short term, however, it does appear that good ethics can help a company achieve a strong long-term business model. Conversely, in the cases of Enron, Parmalat, and Merrill Lynch for example, a business ethics-related scandal can cost billions of dollars and even the destroy a company. Empirically, ethics or the lack thereof, can be a wild-card factor that can either improve or cost a business. More or less, good ethics serve as an insurance policy against corporate implosion and can help establish long-term customer and employee loyalty. In today's business culture, however, profitability is still the trump card, even amongst a trend toward greater corporate social responsibility. To understand what good ethics are, a clear definition of ethics must be made. The reality is that among others, there are two major separate and at times, conflicting paradigms regarding a preferred business model. The prevailing model in modern business, an open-market model, relies philosophically on Adam Smith's lassiez faire approach, that unadulterated market competition will always yield the most effective results. In theory, a pure open market system abhors any form of market interference, as it will only work counter to the maximization of an economic system. On a practical level, this type of competition finds its way into the investment markets. Large corporations are constantly under pressure to showcase their value in the form of stock prices, earnings reports, and prognoses for increased profitability in the near future. It would be considered unethical in this model to interfere with the natural conduct of business. Advocates of this model are by nature, against regul ation. The other model, which focuses on corporate social responsibility, is a more holistic approach that includes the social consequence of a company beyond its shareholder obligations. Therefore, good ethics are measured by the benefit to all entities that come in contact with a company directly or indirectly, from shareholders, to customers, to employees, to subcontractors, and to the environment. This type of model, which has been recently adopted by the United Nations, is challenging the traditional bottom-line approach and redefining the meaning of good ethics in business. The open market model has been the prevailing model of big business since roughly 1980, following international economic turmoil, believed to have been caused by an over-regulating economic philosophy from both sides of the Atlantic Ocean. Deregulation, desperation, and temptation have invited many ethics scandals in recent memory, from European scandals in the 1980' and 1990's to the U.S. based global corporate scandals in the early 21st Century. Lloyds of London for example, one of the largest insurances providers in the world, narrowly avoided bankruptcy as a result of allegedly misrepresenting its profitability and the amount of liabilities in the early 1980's to its Names, or wealthy individuals who underwrite their policies. The scandal led to over $8 billion in losses as it rocked London's financial markets, and as Tony Blair claimed, "Lloyd's has committed the largest, most extensive and pervasive fraud in history (McClilntick, 2000)." Another large European company, Parmalat , has been accused

Strategic management Essay Example | Topics and Well Written Essays - 3000 words - 2

Strategic management - Essay Example It is currently the largest coffee house globally with its current size satisfying a customer base of more than 40 million weekly. It operates 16,635 stores in 50 countries whereby 11,068 are located in the United States. The company operated 9,031 stores and 4,776 licensed stores as of 2011 fiscal year. The company has three operational segments namely the Global Consumer Products Group (CPG), United States (US) and International (Quelch, 2006). Its product lines include beverages such as coffee, soda, juices and Tazo tea, pastries, whole coffee beans and merchandise such as CDs and mugs. Its three largest overseas markets are Japan (more than 180 stores), England (more than 370 stores) and 120 stores in both China and Taiwan. Starbucks is currently the fastest growing food chain. It is planning to boost earnings by 20% to 25% in the preceding five years and increase its global storefronts to 40,000. The company attained a 14% increase in revenue to $13.3 billion in the fiscal year 2012. The company is optimistic that the revenues will further grow in the fiscal year 2013 at a range of 10% to 13% following the growth in store sales, new store openings and advancement in channel development business. The US segment includes both company-oriented and licensed stores. The US segment sells coffee and other beverages, whole bean coffee, complementary food and other selected merchandise through stores. Its financial management goals are conservative in that the existing stores pay for the new store installations. To ensure customer satisfaction, Starbucks focuses on value chain development, market development and penetration, horizontal integration and concentric and conglomerate diversification. This paper is a strategic analysis of Starbucks Coffee Company with focus on its United States business segment. Market Environment Analysis for Starbucks Coffee Company PESTEL Analysis The PESTEL analysis contains five factors (political, Economic, Social, Technological, E nvironmental and Legal) that affect the external business environment of the company (Appendix 2). The three most crucial factors affecting the US business segment of the company are political, economic and technological. Political/legal The political/legal environment of Starbucks is of high significance because the company imports all their coffee beans; international laws must apply. The high taxation rates in coffee producing countries makes the company hike the prices of their commodities. This implies that any fluctuations in the taxation rules will be passed to the consumer. Increased prices affect the consumption rates of customers. Trade issues will predominantly affect Starbucks when importing or exporting goods. According to Dlabay, Burrow and Kleindl, (2011), imposition of tariffs leads to losses as well as large income transfers that can become inconsistent with equity. The local elections may also have negative effects on the business due to the change in administratio n that may alter the business laws. Economic Increase in the international or local interest rates tampers

Fighting cocks Essay Example for Free

Fighting cocks Essay A richly textured social history of Hispaniola†¦ the cock flight is designed to pit equal combatants against each other, and among humans equality is in short supply on Hispaniola. Perhaps this explains why the victorious cock brings glory to his owner yet the victors in the human competition have hardly been inspiring. Kirkus Reviews (January, 1999) There are lots of situations in history when people of power try to use others to fight for the interests which they represent and use them as marionettes or as fighting cocks. We often become witnesses of historical events in which politicians were using ordinary people to fight for their ideals. The idea of the fighting cock is clear to everybody- in a general sense it’s a bird which fights in the arena for the amusement of its owner and as long as the cock wins, it remains alive. Whenever it loses, it gets cooked for the next dinner. Of course, the idea of the fighting cocks in the novel has an allegoric sense but it is hard to imagine any other word which would describe the events going on in the history depicted in the novel with a different term. In order to give a full review of the novel, we are going at first to focus on the main points which it covers, i. e. on the historical period which is depicted in the novel. The main goal of our research is to show how events were going in the period of history which we are analyzing, what contribution Michele Wucker has made to the analysis of the events and what made her work outstanding. We are also going to investigate who were the allegoric fighting cocks in the novel and their owners and how they were trying to achieve their goals by using the fighting cocks. In Michele Wucker’s novel Why the Cocks Fight- Dominicans, Haitians, and the struggle for Hispaniola, a complex exploration of the cultural divide between Haiti and the Dominican Republic is given and the novel focuses on the 1937 massacre which is the central movement in Hispaniola’s history. It appears impossible to understand the essence of the novel without knowing some information about the island Hispaniola which serves as the arena for the fighting cocks in the novel. Investigations show that Hispaniola rises out of the Caribbean between Cuba and Puerto Rico and nowadays still remains a mystery to most North Americans. During the conquest, France and Spain tore the island apart and thus considered themselves a general owner of the island. In a while, the conquerors found themselves no match for the Africans they brought there to work and die in the sugarcane fields. The Spanish-speaking Dominican Republic has diverged considerably from its French-speaking island neighbor but the two nations share more than a porous common border. In order to give a full idea of the differences between those nations, we can give the following information: while in the recent years the Dominican Republic has become a state which a GNP growing faster than GNP of any other Latin country, Haiti remains the poorest country in the Americas. Wucker’s novel focuses on the often tortured relationship between Haitians and Dominicans. They are the cocks which were mentioned in the title of the novel. Those cocks are fighting for territory and power in a cockpit of an island and the stakes are cultural and psychological, sometimes even matters of life and death, in a fight which has been going on for centuries and which brought lots of sorrows to the nations, like any fight. Even though the nations are sharing the same island, they have completely different cultures and thus share different ideals. One nation is French-speaking and black, another one is Spanish-speaking and mulatto. Just as the owners of the fighting cocks contrive battles between the birds, the leaders of Dominican Republic and Haiti often stir up nationalist disputes and exaggerate their cultural difference as a way of deflecting other kinds of turmoil. Even though ordinary people would probably not want to participate in the struggles from their own will and desire, the leaders do their best to force their people to realize that they need to fight for right to rule. The phenomena of Michele Wucker’s book is that the author weavers together the histories and current plights of Haiti and the Dominican Republic. It is not an easy task to depict both historical facts and also the realities of modern times but Michele Wucker has done a very successful job on that. The author unveils the seemingly chaotic yet ritualistic world of Dominicans and Haitians and in her novel moves back and forth from the time of Columbus to the 20th century and through the intervening years to emphasize recurring themes rather than a linear story.

ADHD Impact on family Essay -- essays research papers fc

The Impact on the Family After reading the articles Driven to Distraction and Lost in Translation, both from Today’s Parent magazine, I have learned many new things. I learned that it is sometimes not very easy to pick out a child with ADHD, even if it is your own child. It could take years to discover that a child has ADHD. It can be easily detected once the child has entered elementary school. One of the signs of ADHD is falling behind in school, or acting up and not being able to pay attention for long periods of time. This causes frustration for the child, the parents, teachers and the other students in the classroom. It is difficult for parents because they do not want to believe that their child has a disability. It is even harder for the child because they are the ones that have to deal with the name calling, being held back a grade or two and just knowing that they are different. The issue of being different for a child living with ADHD is very stressful and could make the child not want to le arn new things or pay attention in school. They just give up on trying to learn. From these articles I have also learned that it is easier to pick out boys with ADHD than it is with girls. This is because the boys are generally more active, restless and known for impulsiveness. Girls with ADHD are normally up and down in regards to their grades. One day she will get zeros and the next will be perfects on the same assignments. The attention level that boys show tends to be the...

Spin Masters Toys Case Write-Up

MG 640 Spin Master Toys (A): Finding A Manufacturer for E-Chargers 1. ) Executive Summary: †¢ Spin Master Toys core competencies are marketing and bringing creative toys to market. †¢ Alex Perez should choose Wah Shing and utilize their core competencies of manufacturing electronic toys. †¢ Electronic components can be difficult to acquire therefore Wah Shing’s relationships with suppliers will be beneficial. Speed to market is key, therefore Wah Shing has the best capabilities to meet Spin Master delivery commits †¢ Building long-term supplier relationship with Wah Shing is imperative if Spin Masters decides to stay in the electronic toy industry. 2. ) My assessment of the process Spin Masters has used to get to this point is, they are really good at developing good relationships with retailers, investors and have in-depth knowledge of research and development of various toys. Spin Masters has expertise in developing low technology â€Å"fad† toys a nd distributing them to retailers quickly.Spin Masters lacks engineering and manufacturing capabilities and therefore it’s necessary to outsource both. The company used their own â€Å"grassroots marketing† campaigns to stimulate interest in their toys. Spin Master’s has a â€Å"botched† process when it comes to the manufacturing and delivery of their toys. This end process appears to always be a â€Å"scramble† especially as they enter the electronic toys market. Since electronic toys are new to Spin Master, they should have utilized an early supplier involvement strategy.A company like Wah Shing early on could help them with the engineering and development from an early stage and then manufacture the plane for Spin Master Toys. Spin masters is good at marketing and bringing creative toys to market, whereas a company like Wah Shing has expertise in engineering and manufacturing of electronic toys. In short, it’s best to take one company's w eaknesses and mate them up with another company’s core competencies. 3. ) As Alex Perez, of the two potential suppliers, I would choose Wah Shing. Wah Shing’s core competencies include the engineering and manufacturing of various electronic toys.Spin Masters needs to find a manufacturer who is capable of providing high quality products in a short time span. Wah Shing has a very large facility which includes 6 engineers, 3,500 total employees and is the preferred electronic toy manufacturer for some of the largest companies in the toy industry. With that said, Wah Shing has a reputation for the manufacturing of high quality electronic toys. One of the biggest obstacles I currently face is getting E-Chargers to market on time to obtain the first mover advantage. Wah Shing has only 20% of its manufacturing capacity available but that is still a lot of freed up space for E-Chargers.The company could possibly devote a total of 700 employees (20% of 3,500 employees) to focus only on the manufacturing of E-Chargers. Currently, Spin Master needs a total of 20,000 units therefore each employee would be responsible for a total of 29 E-Chargers. Since many of the smaller components are sourced from other companies, this appears to be an achievable milestone to meet for the December deadline. In considering Wah Shing as a supplier for E-Chargers, cost and financial risk needs to be taken into account. Wah Shing has annual revenues of nearly $40 million, which is over $10 million more than other Hong Kong competitors.Without knowing any further details, it is safe to assume Wah Shing is in good financial health due to their proven track record with Hasbro and Tiger. There does not appear to be any indicators that Wah Shing has or will have any financial burdens in the near future. In terms of cost, Wah Shing appears to be slightly more expensive than Wai Lung. The per unit difference is about $. 32-$. 37 (HK$2. 45-HK$2. 83) depending on the container load. Wa h Shing also includes critical components such as the motor and the capacitor in their pricing quote where Wai Lung does not.This can be due to the fact that Wai Lung does not have a reliable supply base in line for electronic components. I am faced with stringent time constraints and therefore I cannot risk any possible supply disruptions. As for Wah Shing they have developed good supplier relationships with electrical component suppliers. This is crucial as the components used in E-Chargers are not always readily available. Wah Shing has minimal financial risk, competitive pricing and more knowledge of the componentry that E-Chargers entail.Wah Shing has produced other complex electronic toys and therefore would have the processes and technological capabilities to produce an E-Charger within the stringent tolerances. It would be hard for me to change Wai Lung’s core competencies of die-casting and plastic toys. I do not think with the time I’m allotted I would be abl e to overcome the knowledge gap they have for electronic toys. Wah Shing’s engineers have the ability to closely monitor the production of E-Chargers and correct any problems that may arise in the manufacturing process.It is imperative to have engineers readily available who can help prevent any potential work stoppages as Spin Masters does not have a lot of time to get E-Charges to market. Lastly, after careful consideration I noticed Hasbro does have relationships with both Wai Lung and Wah Shing. Hasbro has contracted less complex toys to Wai Lung as that’s their core business and more complex electronic toys to Wah Shing. This has further imbedded that knowledge is power especially when it comes to more complex toys.Lastly, after careful consideration Spin Master Toys has invested heavily in E-Chargers and it’s my responsibility to ensure the correct supplier is chosen. Another determining factor that I had noticed is Wai Lung is only at 40% capacity whereas Wah Shing is at 80% capacity. If E-Chargers really take off as planned, I need to engage in a longer-term supplier relationship. This is especially true since Spin Master is aligned with introducing a full line of E-Chargers. While Harary was visiting Wai Lung, he mentioned that they had â€Å"lost a significant portion† of their business due to a â€Å"disagreement with a large toy company†.I realized that Wai Lung may not be our best option as they don’t have a proven track record especially with a large toy company. This could possibly be the result of so much capacity becoming available. Harary also advised that Wai Lung may not be in a position to take on new projects in the short term. Spin Master’s E-Charger does not appear to be a good fit for Wai Lung as they need as much attention as possible to expedite their products through the manufacturing process. 4. ) In implementing my decision to have Wah Shing be the supplier of choice for E-Chargers, I would first have to close the loop of management communication.My main focus is to be the first to market with E-Chargers and in doing so I need to communicate with senior leadership at Wah Shing. I believe messages and priorities are best delivered from the top down, so I need to get my message to the top. Wah Shing currently has a lot of work in house, so even if Spin Masters has to pay expedite charges it will be well worth it if we get to market first. Also, not only would I like to meet senior leadership personally I would like to have our two project managers based in Hong Kong meet them as well. This is a starting point in creating a personal relationship with key contacts of Wah Shing.The ideal relationship I would like to see develop would be to have these two managers visit Wah Shing on a regular basis as it’s only 5 hours away. The next step in implementing my decision would be to understand how Wah Shing communicates with their customers. I would like to know i f they have any electronic data interchange (EDI) capabilities so Spin Master can have daily updates in real-time as to the status of their products. Wah Shing delivers quality products, but anything can happen with a newly developed product in the manufacturing process, for example a batch of E-Chargers could possibly weight too much and not fly.Real-time production updates can better align myself and Spin Master Toys to help Wah Shing overcome such issues. Also with the use of such real-time information we can update our customers and provide current status on their orders. Over the next six months I have to ensure many tasks are carried out in a timely manner. These tasks include, making sure the quote package is completed by July 1st, vendor quotes are expedited to meet our July 10th date, and the final design release is on schedule as well. I will be a busy guy and will have to utilize my project management skills.Once all of my preliminary tasks are complete, I will be traveli ng to Wah Shing frequently to ensure our E-Chargers are on track for our shipment deadline to retailers. I will have to monitor and address the 35-day lead-time for tooling, as this could be an opportunity for us to take some time out of the process. While visiting Wah Shing I will also be addressing key issues such as capacity. I want to ensure that Wah Shing is utilizing the right people to our products as we cannot afford to lose any more time.Capacity is very important at this time as we’re only forecasting 20,000 units right now but we need room to increase our capacity as we ramp up. In the month of November I will be closely monitoring our ramp-up schedule as I do not want any E-charger stock-outs. E-Chargers will be on an end-cap; therefore our product will have a lot of visibility to customers. As I said before as Spin Masters and I develop a good working relationship with Wah Shing a lot of the bottlenecks we face with E-Chargers may not occur in the future if we st ay in the electronic toys market. Word count: 1,647