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Analysis Of Stephen Crane s A Mystery Of Heroism Essay

Thuan Le Mrs. Jaspard English 3P 28 April 2016 Realism in Stephen Crane. When a conflict between two powers reaches its peak, the war becomes inevitable. This usually leads to the change in roles among men and women. Men turn into soldiers and women turn into field nurses. . Living under critical conditions, one could die easily just by walking out the street or starving to death due to uncontrollable hysteria. In such situations, one could truly reveal his personality by either saving themselves or other individuals. .For that reason, Stephen Crane’s short story â€Å"A Mystery of Heroism† portrays the hidden heroism act that revolves around the main character, Collins. Through the challenges and problems that Collins encounters , Crane exemplifies the belief that war is cruel and meaningless. From the beginning , Crane shows us war is all about destruction, demolition and nothing more but blood. He does this by introducing a character named Fred Collins, who is described as an ordinary soldier who knows nothing about the purpose of the war. In the story, the character is going through a mysterious battle where shells and bullets fire endlessly. In this battle, the bodies of many young soldiers appear to be dead. In addition, the field is endlessly being filled up with the flowing blood. The author characterizes the scene by saying, â€Å" A lieutenant of the battery rode down and passed them, holding his right arm carefully in his left hand.† This quote expresses an irony whichShow MoreRelatedANALIZ TEXT INTERPRETATION AND ANALYSIS28843 Words   |  116 Pagesï » ¿TEXT INTERPRETATION AND ANALYSIS The purpose of Text Interpretation and Analysis is a literary and linguistic commentary in which the reader explains what the text reveals under close examination. Any literary work is unique. It is created by the author in accordance with his vision and is permeated with his idea of the world. The reader’s interpretation is also highly individual and depends to a great extent on his knowledge and personal experience. That’s why one cannot lay down a fixed â€Å"model†Read MoreMetz Film Language a Semiotics of the Cinema PDF100902 Words   |  316 PagesOxford University Press, 1974. Includes bibliographical references. ISBN 0-226-52130-3 (pbk.) 1. Motion pictures—Semiotics. 2. Motion pictures— Philosophy. I. Title. PN1995.M4513 1991 791.43 014—dc20 90-46965 C1P The French edition of Christian Metz s Essais sur la signification au cinema, volume 1, was published by Editions Klincksieck in 1971,  © Editions Klincksieck, 1968. ÃŽËœThe paper used in this publication meets the minimum requirements of the American National Standard for Information Sciences-PermanenceRead 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 PagesE SSAYS ON TWENTIETH-C ENTURY H ISTORY In the series Critical Perspectives on the Past, edited by Susan Porter Benson, Stephen Brier, and Roy Rosenzweig Also in this series: Paula Hamilton and Linda Shopes, eds., Oral History and Public Memories Tiffany Ruby Patterson, Zora Neale Hurston and a History of Southern Life Lisa M. Fine, The Story of Reo Joe: Work, Kin, and Community in Autotown, U.S.A. Van Gosse and Richard Moser, eds., The World the Sixties Made: Politics and Culture

Outsourcing Buisness Function In Buisness †Myassignmenthelp.Com

Question: Discuss About The Outsourcing Buisness Function In Small Buisness? Answer: Introducation The common trend utilised in todays small business is outsourcing which is used for improving one or several areas in the business for smooth functioning. The term outsourcing can be defined as a practice or task provided for a company by another company which can be in form of manufacturing any product or service. It can also be termed as a process of delegating business processes to a firm which performs the given work outside the business area and manages the same according to the agreed criterion. It involves in getting service from outside business or organisation and requires sharing internal information with others. The main reason behind outsourcing is to reduce costs and provide flexibility in service or offered product along with enhanced quality(Anon., 2017). Few examples of small business firms who mostly outsource its business are management consultants, lawyers, small manufacturers, restaurants and universities. The outsourcing process can sometimes prove to be complex and consumes lot of time which delay in providing potential benefits to the owners. Although the rate of outsourcing had been increasing in the last decade, still there are few business owners who does not consider in having involved with others into their business. (Smith, 2012)This research will analyse and review the advantages and disadvantages of outsourcing business function in small business and will provide necessary arguments along with conclusions made. Literature Review In any business strategy outsourcing has become a common practice whether business is small or big. Many companies have started to outsource some of its works to others which was earlier performed by them(Iqbal, 2013). With its demand and increase it has been a common topic in the literature and reasons behind it have been identified by researchers. Although outsourcing is been successfully achieved by many companies, still there are significant risks that can be recognised if not outsourced properly. In any business, decisions regarding outsourcing are made after getting motivated due to several factors and reasons behind it.(Yeboah, 2013) The three major types of motivation for outsourcing is cost saving, strategic planning and politics of the country. The first two reasons are commonly faced by small business. Outsourcing for cost curtail takes place when suppliers costs after delivering services are still lower than the present cost even after adding profit, overhead and transact ion costs. (Kremic, 2006) The owners of small business require strategic management which enables them to expand their business and for that reason requires a team for management. By outsourcing some of its managerial part, it can get proper assistance without hiring full time management staff. Although there are many examples of possible savings that small businesses expects to recognize with outsourcing, but there is no assurance of getting expected savings(Kahrovi?, 2015). There are evidences which shows cost cutting sometimes have been overestimated and costs gone even higher. Therefore, to review the topic precisely, academic theory and research literature had been utilised which can provide assistance to small business owners and their advisors. Project Objective The main objective for outsourcing is that it reduces overall costs and saves the money in small business firms. There are many other benefits also like providing labour, information technology consultant, digital communication, financial consultants, change in product instantly, etc. Though there are many ways of resourcing, the reasons behind it may also be various. In any company constant improvement is very essential or else it may become outdated. Thus by involving outer source, which is also latest, will help in focussing overall improvement. The capability of small entrepreneurs can become inadequate if not accessed properly and according to world class capabilities. (Syluancia, 2009)The releasing of internal resources for other major purposes may provide business a scope for improvement and increase in time efficiency function which can be easily done by outsourcing some of its work to other companies. With maximising the use of outside resources, the company also shares risk s with the associated company and thus reduces risk concentration. Although there are many reasons for outsourcing, before implementing it, companies must make sure of all the workings and find out if they are able to fulfil the desired goals as it may result in companys failure since outsourcing involves few drawbacks also.(Riley, 2010) Project Scope Scope of utilizing outsourcing in small business is increasing day by day as people are getting more attracted on value added services in house and are more focussed to strategic management to maximise the use of its internal capability. It can be utilized in all kinds of businesses, for example in IT enabled service, outsourcing can provide services like financial consultants, advertising, courier service, customer support service, etc. (Pine, 2017)Another fine example of outsourcing in small business which is utilised nowadays commonly is outsourcing in restaurants since they are highly depended on collaborative effort for performing high quality customer service and successful outcome. Training of employees, kitchen etiquettes, introducing new and innovative recipes, appointing high quality staff, efficient customer service, interior designing of sitting area, market strategy, etc. are few areas which are outsourced in a restaurant business(Zeif, 2007). For any businessman it is v ery difficult to be good at everything. A confident business person may lack knowledge of cooking or a highly skilled chef may not be aware of marketing policies. Also services like door delivery and menu making requires a team who specializes in that category. Thus after recognising problems in a restaurant it can be said that outsourcing is the only way in which it can enrich its overall business. Advantages Of Outsourcing In small business by outsourcing particular work to other companies or agencies by using Agency Theory can help in engaging more experts to the firm and increase in efficiency by improving performance.(Sonfield, 2014) As more people get engaged, things work faster. This is also an important reason for small business to outsource as it tends them to grow up into big entity in shorter time. If a company is working with limited number of employees, the work becomes time consuming. If it is outsourced with external agencies or freelancers the time taken will be reduced. Self liberty is enhanced by passing on opinionated tasks which enables the owner to concentrate in reinforcement of the core development of the business. Thus enables owner to focus on other important matters. In small business, the capability to realise risks is not much and sometimes can result in its shutting down. With the help of Economy of Information Theory, the owner can assign certain practice or function to expe rts of respective fields(Sonfield, 2014). Business might get benefitted from their expertise and reduce probable risks and can also get helped in sharing risks in related areas. In businesses like logistics and fast food restaurants in busy cities, it demands night services; outsourcing can prove very efficient as the business is carried on even when the owner is not present on the spot all the time. It might facade initial problems, but with the flow can bring extensive difference to the business. Utilising Core Competencies Theory is another effective way to enhance small business as outsourcing work to online websites, specialist freelancers and advisors provides lot of assistance in making plans for management and is mostly used for getting business managed strategically. It also saves lot of time and reduces cost of hiring special person for it and hence simplifies the work management. The Social Exchange Theory is another important theory which can be applied into small busine ss. It brings in sharing of resources which can be tangible or material, and involves human interaction. With its help association is made and interconnectivity among similar business is increased thereby helping each other at the time of needs. The use of Evolutionary Economics Theory is another outsourcing advantage which company can take use of in which reduction of labour costs, taxes and the overall cost of production is enabled and applied. (Konstantopoulos, 2014) Disadvantages Of Outsourcing Along with several advantages of outsourcing, there are few disadvantages also which should be considered while taking decision about implementing it. The most significant is that it results in loosing few areas of control. By delegating works to external agencies, the owner loses control on the performance of work. There is a great chance of fall back if the hired agency is suspicious. Thus becomes very crucial on the management part to tread cautiously. Big outsourcing agencies can sometimes asks small business owners to make contracts and sign lengthy agreements with fine print. If not read properly before signing, it may result in getting ripped off and end at getting adverse effects(Riggins, 2017). Normally lots of hidden costs are included in outsourcing business which is needed to be recognised carefully by small business owners. While outsourcing areas in internal management, personal data is required to be shared with outsiders that can lead to risk of safekeeping of data an d increases security risks. Also the result product or service can sometimes lack quality as freelancers or external agencies may get motivated for profit making rather than high-quality job which results in reduced quality control. There are chances of delay in work also with increase in difficulties to synchronize time schedules with external sources which results in not attaining the product in desired timeline(Mol, 2009). Another disadvantage which a business may face from outsourcing is losing public morale. Although it is not common with all countries or in all sectors, still there are chances that outsourcing from foreign countries may not be taken positively and result in backlash.(Bucki, 2017) Example Of Outsourcing In Small Buisness In relation to the small business outsourcing, restaurants are good examples which can be taken for further understanding of the research. In restaurants, owners cannot do everything like cooking, cleaning, laundry, accounts maintenance, delivery, etc. Thus outsourcing becomes essential for hiring outside party to do the job rather than hiring full time staff for it. There are few areas which are normally outsourced in restaurants. In restaurants, dish rags, waiters coat, chefs apron, table cloth etc. are few types of laundry which requires industrial strength cleaning. In order to ensure clean uniform service, it hires laundry service rather than putting entire effort on it. Kitchen maintenance is another important area of outsourcing in which cleanliness of the kitchen is ensured. While getting food out of it, the kitchen area needs to be clean and remain tidy along with detailed cleaning done three or four times a year in few areas like chimney, kitchen hood and behind the stoves. By hiring a professional maintenance company, the requirement of hiring extra staff for cleaning purpose is saved along with getting professional aid.(Mealey, 2016) Advertising about restaurant is very necessary to attract customers which can be done by hiring professional advertisers who can create exclusive hoardings and banners for restaurants in innovative ways. In todays business, before selecting a company, customers do a detailed study of the company with the help of online websites. Similarly in restaurants, customers prefer looking at the menu or type of food offered before visiting it. For this, owners can outsource its web service to the professional website agencies and online available sites to make information reach to its customers. Although there are many restaurants that specializes in online services like MC Donalds, KFC, Subway and Dominos, still it would always be better to outsource advertising part to other websites also. To hire Professional accountant is ano ther advantage of outsourcing business as it helps in saving business money from taxes and other hidden costs. Since professionals gain more knowledge about country laws and regulations, they may get ways and methods to save money from tax exemptions without hampering business ethics.(Sherman, 2015) Conclusion After making a brief study about outsourcing, it is clear that without outsourcing, small business cannot gain consideration and development. It has become core in small business which has to be accepted by entrepreneurs. But due to some consequences, it requires deep concentration before selecting the right service provider and according to business needs. Each advantage mentioned in the review can help in the growth of the business. The proprietors are freed for reinvesting their time and force into their concern instead of getting upset about the services that have been outsourced. Even there are few risks involved; outsourcing eventually offers the owners many advantages. It helps in building of a team of skilled professionals and advisors without adding any expense of full time staff along with quick work completion.(Pellicelli, 2012) Thus by analysing probable risks and success realisation from outsourcing, it can be said that it is an inevitable method which can prove to be fl ourishing only if carried with great concern. Advantage which outsourcing carries are higher than its disadvantage which makes it more successful process in small business and is increasing day by day. References: Anon., 2017. Company Outsourcing Literature Review. [Online] Available at: https://www.ukessays.com/dissertation/examples/business/company-outsourcing.php [Accessed 13 August 2017]. Bucki, J., 2017. The Advantages and Disadvantages of Outsourcing in Business. [Online] Available at: https://www.thebalance.com/what-is-outsourcing-2533662 [Accessed 13 August 2017]. Iqbal, Z., 2013. Outsourcing: A Review of Trends, Winners Losers and Future Directions. [Online] Available at: https://ijbssnet.com/journals/Vol_4_No_8_Special_Issue_July_2013/9.pdf [Accessed 13 August 2017]. Kahrovi?, B.K.a.E., 2015. BUSINESS PROCESS OUTSOURCING As a tool for Improving enterprise efficiency. [Online] Available at: https://ageconsearch.umn.edu/bitstream/212935/2/3.pdf [Accessed 13 August 2017]. Konstantopoulos, A.V.a.N., 2014. Models referring to outsourcing theory. [Online] Available at: https://ac.els-cdn.com/S1877042815012999/1-s2.0-S1877042815012999-main.pdf?_tid=16522228-7ff3-11e7-8a03-00000aab0f01acdnat=1502606948_ca78cda2378159cd6ac5472934b4be0e [Accessed 13 August 2017]. Kremic, T., 2006. Outsourcing decision support: a survey of benefits, risks, and decision factors. [Online] Available at: https://ankara.lti.cs.cmu.edu/11780/sites/default/files/Outsourcing-Survey.pdf [Accessed 13 August 2017]. Mealey, L., 2016. Five Things to Outsource in Your Restaurant. [Online] Available at: https://www.thebalance.com/five-things-to-outsource-in-your-restaurant-2888626 [Accessed 13 August 2017]. Mol, M.K.a.M.J., 2009. OUTSOURCING AND FINANCIAL PERFORMANCE: A NEGATIVE CURVILINEAR EFFECT. [Online] Available at: https://wrap.warwick.ac.uk/3254/1/WRAP_mol_110610-outsourcing_and_financial_performance_v_jpsm_final.pdf [Accessed 13 August 2017]. Pellicelli, P.M.a.M., 2012. The Strategies of Outsourcing and Offshoring. [Online] Available at: https://www.aijcrnet.com/journals/Vol_2_No_9_September_2012/15.pdf [Accessed 13 August 2017]. Pine, M., 2017. Why Do Companies Outsource? [Online] Available at: https://www.thebalance.com/why-do-companies-outsource-2553035 [Accessed 13 August 2017]. Riggins, N., 2017. 20 Advantages and Disadvantages of Outsourcing from Your Small Business. [Online] Available at: https://smallbiztrends.com/2017/02/advantages-and-disadvantages-of-outsourcing.html [Accessed 13 August 2017]. Riley, J., 2010. QA - Explain what is meant by outsourcing. [Online] Available at: https://www.tutor2u.net/business/blog/qa-explain-what-is-meant-by-outsourcing [Accessed 13 August 2017]. Sherman, R., 2015. Why Business Process Outsourcing is on the Menu for Restaurant Chains. [Online] Available at: https://www.capgemini.com/blog/bpo-thought-process/2015/02/why-business-process-outsourcing-is-on-the-menu-for-restaurant [Accessed 13 August 2017]. Smith, A., 2012. The Pros and Cons of Outsourcing. [Online] Available at: https://digitalscholarship.unlv.edu/cgi/viewcontent.cgi?article=2479context=thesesdissertations [Accessed 13 August 2017]. Sonfield, M.C., 2014. Outsourcing Strategies for Small Businesses. [Online] Available at: https://www.sbij.org/index.php/SBIJ/article/viewFile/206/160 [Accessed 13 August 2017]. Syluancia, L., 2009. The Objectives of Outsourcing. [Online] Available at: https://ezinearticles.com/?The-Objectives-of-Outsourcingid=3188795 [Accessed 13 August 2017]. Yeboah, A., 2013. The Relationship Between Outsourcing And Organizational Performance. [Online] Available at: https://citeseerx.ist.psu.edu/viewdoc/download?doi=10.1.1.735.2183rep=rep1type=pdf [Accessed August13 2017]. Zeif, D., 2007. Restaurant Outsourcing vs. In-House Operated. [Online] Available at: https://www.hotelfandb.com/articles/38-restaurant-outsourcing-vs-in-house-operated [Accessed 13 August 2017].

King Lear A Transformation of Self Essay Example

King Lear: A Transformation of Self Paper In King Lear, William Shakespeare traces one mans discovery of his individual sinfulness and ignorance, and his eventual appreciation of his mortal flaws and their consequences. Through the imagery of sight and eyes, Shakespeare details King Lears passage from initial blindness to the virtue, honesty, and love of Cordelia to the ultimate restoration of his vision through suffering and selfless love. By illustrating the loss and gain of internal sight, as well as, detailing Lears transformation from egotistic pride to self-abandoning love, the reader is taught to assess reality in terms of truth within ourselves, rather than, mere appearance or monetary value. Lears tragic flaw is his excessive desire for approval and exaltation, which he looks to obtain by asking his three daughters to profess their love for him. The two eldest daughters, Regan and Goneril, speaking with self-serving exaggeration, give Lear exactly what he desires, reverence and adoration. However, Cordelia, his most beloved daughter, refuses to comply with Lears superficial desires. Aware that love extends deeper than artificial compliments, Cordelia confesses her plain love, characterized by modesty and honesty. Then poor Cordelia! / And not so, since I am sure my loves/ More ponderous than my tongue Unhappy that I am, I cannot heave/ My heart into my mouth. I love your Majesty/ According to my bond, no more nor less (I. i. 79-81, 93-95). We will write a custom essay sample on King Lear: A Transformation of Self specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on King Lear: A Transformation of Self specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on King Lear: A Transformation of Self specifically for you FOR ONLY $16.38 $13.9/page Hire Writer The king, enraged by her modest words, disowns her as a barbarous/ Scythian (I. . 117-118). Blinded by pride and conceit, Lear refuses to acknowledge the painful truth about himself-the truth conveyed by Cordelia. In reality, obviously, Cordelia is the only daughter who truly loves Lear with complete goodness. In banishing Cordelia, the anger Lear displays, as well as, the punishment he inflicts are consequences of his blindness caused by pride and conceit. Because of his pride, Lear sees vice within Cordelia and virtue within Regan and Goneril, where none exists. Because Lear empties his entire kingdom, as well as, himself to the deceptive daughters that flatter him, rather than Cordelia, the honorable daughter, chaos descends on his kingdom. The chaos in his kingdom and his internal turmoil are mirrored through the storm. The storm, not only, echoes Lears inner turmoil but, also, forces him to recognize his own mortality and vulnerability. Throughout the storm, the reader becomes increasingly aware of Lears transformation. In the storm, Lear begins to abandon his arrogant persona and, finally, begins to cultivate a sense of humanity. Rarely acknowledging the Fool, Lear begins to feel sympathy for him. Come on, my boy. How dost, my boy? Art cold? Poor Fool and knave, I have one part in my heart/ Thats sorry yet for thee (III. ii. 69, 73-74). In developing a deepening sensitivity to other people, Lear dethrones himself and, for the first time, sees that, he too, is only human. Because he has experienced the suffering caused by his two oldest daughters, as well as, the physical pain attributable to the storm, Lear is able to ally himself with the poor naked wretches That bide the pelting of this pitiless storm (III. iv. 28-29). With this newfound compassion and sympathy for the suffering of others, Lear begins to reveal humane attributes. In becoming human and emptying himself, Lear begins to see truth within himself, rather than, in power or financial value. However, it is only through Cordelias death that Lear can see his flaws clearly. Holding Cordelia, his beloved daughter, as she is dying, Lear has the power to see himself and to know his own soul. Lear, in the final moments of his life, finds himself by professing his anguish and love for the daughter that he has mistreated. Her voice was ever soft,/ Gentle and low, an excellent thing in woman. I killed the slave that was a-hanging thee I am old now,/ And these same crosses spoil me (V. iii. 274-276, 279-280). By emptying himself to his daughter, through selfless love, Lear reaches liberation from his tragic flaw, his excessive desire for approval and exaltation. On the verge of death, Lear redeems his soul by completely giving himself in love and in body to his daughter. Releasing his soul from the constraints of pride and conceit, Lear is, finally, able to find truth within himself. With Cordelias death, Lear is able to grasp reality in terms of truth rather than superficial value. Shakespeare depicts a society blinded by illusion and false reality. Lear is unable to overcome his superficial attributes until he, both, literally and figuratively, empties himself. This play is not about Lears punishment for abandoning Cordelia, but about a kings struggle to rid himself of disillusion and cleanse himself of superficial characteristics. King Lear is a depiction of sin redeemed through love and flaw cleansed through suffering. Through King Lears struggle, the reader is taught to assess reality in terms of truth within ourselves, rather than, in social stature or financial value.

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