The Holocaust :: essays research papers

"If we were not an immortal wad before, we are an eternal people after the Holocaust, in both its very(prenominal) positive and very negative sense. We have not only survived, we have revived ourselves. In a very real way, we have won. We were victorious. But in a very real way, we have lost. Well never recover what was lost. We cant assess what was lost. Who knows what sweetie and grandeur six million could have contributed to the world? Who can ginmill it up? What standard do you use? How do you count it? How do you estimate it...? We lost. The world lost, whether they know it or admit it. It doesnt make all difference. And yet we won, were going on." This quote is from the testimony of Fania Fenelon. The signs and symptoms that are among the Jews because of the Holocaust by all odds characterize abnormality. These abnormalities include the physical effect, the spiritual effects, and the second generation.          The physi cal effects were enormous among the Jews. The conditions of the camps defy description. The nutrition was worse than inadequate and the results being the long-familiar "musselmen" skeletons covered by skin. After the Jews in prison camps were freed, their diseases were treated as well as could be treated. Premature aging was one of the close prominent disabling effects of survivors. Digestive tract diseases were also very common because of the emotional disturbances and inadequate diet during their incarceration. The experience also set them at risk of coronary diseases, cerebrovascular diseases, and arteriosclerosis. All of this was consistent with the wrong aging and the atrophy of the heart muscle due to the extreme undernourishment during captivity.     Spiritual concerns also followed the survivors of the Holocaust. The Jews had to face up to one of the most galled realities of all...What it means to be a Jew. They had to decide whether or not to lie a Jew. The Holocaust had threatened the Jewish people near extinction. A anger directed towards the Non-Jewish world was intense because they had been persecuted by Gentiles. The Holocaust had caused an simply irreversible rupture in the Jewish-Christian relations. Jews tangle and still feel fierce because their expectations of a decent world were shattered into pieces by the most, supposedly, civilized people in the world. "Where was God?" wrote Elie Wiesel, a question asked many times among the Jews. They felt

Media Profiting from the Seduction and Rape of Women Essay -- Feminism

Rape is the current advertising metaphor (Wolf, 79) When did intimate assault become a legitimate advertising tool or form of entertainment? At some point in time, it did because its predominate in society today through films, television, and magazines. One of every cardinal Hollywood movies depicts a rape. Magazines are full of ads that depict either translucent or implied sexual assault of women by men. I was more than a little surprised by magazine ads that depict rape. One for Chaleur danimale meat showed a sore women chained to a naked man. Why? What on earth does this have to do with perfume? How is rape supposed to shell out any product? Why are advertisers using such images? Images of women and ravisher become more extreme. As advertising executives told The Boston Globe, You have to repulse a little harder...to jolt, shock, break through. Now that the competition is fiercer, a livelong lot rougher trade takes place Rough trade is gay male overhear for a sadisiti c heterosexual partner. Today, business wants even more desperately to seduce...It wants to cashier resistance.(Wolf, 79) There are also some images which arent overtly rape, but pay heed to degrade women sexually and objectify them, which tends to have horrifying consequences. ...In a stool of Rock and Hip Hop videos, women get turned into pieces of booty served up for the pleasure of pwerful men... (Mtv) A recent cover of Esquire magazine showed a naked woman covered in caviar. Pictures in the feature article showed the womans boldness covered in honey, her eyes closed, her mouth opened with her tongue provocatively exposed. Turning a human being into a thing, an object, is almost always the first step toward justifying violence against that person.... ...lifetimetv.com/shows/specials/changingface/illusions2.html Life Time Entertainment Services. 2000 ever-changing hardiness of Beauty Models http//www.lifetimetv.com/shows/specials/changingface/models.html Life Time Ente rtainment Services. 2000 Changing hardiness of Beauty Views. Sela Ward http//www.lifetimetv.com/shows/specials/changingface/views5b.html Life Time Entertainment Services. 2000 Changing Face of Beauty Views. Maricia Gillespie http//www.lifetimetv.com/shows/specials/changingface/views.html Life Time Entertainment Services. 2000 Douglas, Susan J. Where the Girls Are Growing Up Female with the Mass Media. New York Random House Publishing, 1994, 278. Starr, Bernard. IT AINT JUST samaraAGING AND THE MEDIA http//www.longevityworld.com/justpaint.html. 1997 Wolff, Naomi. The Beauty Myth. New York Doubleday Publishing, 1991

Principal Agent Theory Essay

There atomic number 18 many settings in which unrivalled economic make upor (the principal) delegates authority and/or responsibilities to an means to act on his behalf. The primary reason for doing so is that the component has an advantage in terms of expertness or selective learning. This informational advantage, or information asymmetry, poses a job for the principalhow crapper the principal be sure that the element has in fact acted in her best interests? Can a contract be written dening incentives in such a way that the principal poop be assured that the agent is taking just the arrange that she would transfer, had she the information available to the agent?Solving this problem is a matter of many concern for patients visioning with their doctors, clients dealing with their lawyers, etc. It is likewise a essential concern for business rms dealing with their employees. Especi ally in the twenty-rst century, employees are a close deal hired precisely beca enfo rce they bear information available that is unavailable to the managers of a rm, who changes or implements new ways of operate on (Innovation), making sure that employee expertise is put to attain in the interest of the rm fuel make the contrast between success and bankruptcyas illustrated by the performance of Google hatful and their success. promontory- operator TheoryThe key common aspect of all those contracting settings is that the information gap between the principal and the agent has whatsoever fundamental implications for the construct of the bilateral contract they sign.In order to reach an efficient use of economic resources, this contract must elicit the agents hidden information. This ass yet be done by giving up few information rent to the privately informed agent. Generally, this rent is pricy to the principal. This cost or payment is what is realisen as observe Cost, on which the heading can limit divergences from his interest by establishing appropri ate incentives for the agent and by incurring observe cost intented to limit the deviant activities of the agent (Jensen, 1976, pg. 5).And just like in any opposite trade, the primary(prenominal) is giving something in exchange of the actions and decisions of the instrument we can say that the Monitoring Cost is an action with its own reaction adhere Cost. This is the Welfare the Agent is willing to take, on behalf of the Principal, to limit or restrict his own actions, wherefore reducing the deviation from the Principals interests. These costs guarantee that the Agent will non take certain actions which would harm the principal or to ensure that the principal will be compensated if he does take such actions (Jensen, 1976, pg. 5).Nevertheless in that location will always be some divergence between the agents decisions and those decisions which would maximize the welfare of the principal. The equivalent of the reduction in welfare experienced by the principal as a result of this divergence is what we refer as the Residual deprivation (Jensen, 1976, pg. 5).But as said on the bafflening, this deal is because of a escape of information or expertise of the Principal in comparison with the Agent. This hightail it us to the Asymmetrical alliance. Asymmetrical relationship refers to the fact that the Agent whitethorn mystify more information than the Principal, leading to the fact that the Principal whitethorn not know to what academic degree are the actions of the Agent in the Principals own interests. Given the self-interest of the Agent, he may or may pass on not be assimilated as agreed (Eisenhardt, 1989, 61). Information is noninterchangeable because the agent, of course, knows which decision he is passing game to make (Spremann, 1987, pg. 4).This Asymmetrical relationship leads into a field of risk and uncertainty represented by the dilemma of honorable Hazard and Adverse Selection. chaste contingency is a situation where the doings of one party may change to the detriment of an some other afterward the transaction has interpreted place. A party makes a decision ab off(predicate) how much risk to take (Agent), while another party bears the costs if things go badly (Principal), and the party insulated from risk behaves differently than how it would if it were fully uncoered to the risk. According to contract theory, moralistic probability results from a situation in which a hidden action occurs. Bengt Holmstrm (1979) said this It has long been recognise that a problem of moral hazard may arise when psyches use up in risk sharing chthonian sources such that their privately taken actions affect the probability distri exception of the outcome.The non-observability of the agents action may then pr regular(a)t an efficient resolution of this conflict of interest since a contract can never stipulate which action should be taken by the agent. In a moral hazard context, the ergodic payoff aggregates the agents ef fort and the realization of pure luck. However, the principal can that design a contract based on the agents observable performance. Through this contract, the principal wants to induce, at a fair cost, a good action of the agent despite the impossibility to condition directly the agents reward on his action. In general, the non-observability of the agents effort affects the cost of implementing a given action. incorrupt hazard can be divided into two types when it involves asymmetric information (or want of verifiability) of the outcome of a random event Ex-Ante Moral and Ex-Post Moral. An ex-ante moral hazard is a change in behavior introductory to the outcome of the random event, whereas ex-post involves behavior after the outcome. For example, in the deterrent example of a health insurance policy company insuring an individual during a specific magazine-period, the final health of the individual can be thought of as the outcome. The individual taking greater risks during the period would be ex-ante moral hazard whereas lying about a fictitious health problem to defraud the insurance company would be ex-post moral hazard.However, there is a second type of informational asymmetry which can also characterize principal-agent relationships. Adverse selection, anti-selection, or negative selection is a term used in economics, insurance, risk care, and statistics. It refers to a marketplace wait on in which undesired results occur when buyers and sellers have. This is where the agent possesses some information prior to choosing an action which, if known by the principal, would influence the choice of action he would like the agent to make. The agent is then required to pass some message to the principal which depends on the private information he has. Since the elect effort, outcome and payoff to the agent may all depend on the message he transmits, the agent may have an incentive to rig his information. The design of the contract will then have to take throwaway of this problem of contrary selection.It is important to stress that, as adverse selection, moral hazard would not be an issue if the principal and the agent had the same objective function. Crucial to the agency cost arising under moral hazard is the conflict between the principal and the agent over which action should be carried out.Managing Innovation.First of all we have to define what is mental home. An Innovation is a new idea, which may be a recombination of old ideas, a intrigue that challenges the present order, a formula, or a unique approach which is grokd as new by the individuals involved (Zaltman, Duncan, and Holbek 1973 Rogers 1982). As long as the idea is perceived as new to the mint involved, it is an mental hospital, even though it may appear to others to be an imitation of something that exists elsewhere. Included in this explanation are both technical innovations (new technologies, products, and services) and administrative innovations (new proce dures, policies, and organizational forms).Even though innovation is always progress, it does not mean that can fit on everyone or that everyone will be happy applying it, and more because it involves changes.When we are public lecture about innovation in an enterprise, managers have to deal with 4 problems. This problems are reflected in a variety of questions the CEOs often raised (Van de Ven 1982). 1. How can a large organization fuck off and maintain a culture of innovation and entrepreneurship? 2. What are the critical factors in successfully launching new organizations, voice ventures with other firms, or innovative projects within large organizations over time? 3. How can a manager achieve balance between morose wardrobes for specialization and proliferation of tasks, and escalating costs of achieving coordination, cooperation, and resolving conflicts?From these questions we can go through three of quartet different factors that related to the Principal-Agent Theory, a s Google did and we will explain it, to succeed in the implementation of innovation.First, there is the human problem of managing attention, second, the process problem is managing ideas into good currency so that innovative ideas are implemented and institutionalized, and finally there is the structural problem of managing part-whole relationships, which emerges from the proliferation of ideas, people and transactions as an innovation develops over time.It is often said that an innovative idea without a champion gets nowhere. quite a little develop, carry, react to, and modify ideas. People apply different skills, energy levels and frames of address (interpretive schemas) to ideas as a result of their backgrounds, experiences, and activities that occupy their attention. People become given to ideas over time through a social-political process of pushing and sit their ideas into good currency, much like Donald Schon (1971) describes.Schon also states that what characteristically precipitates change in public policy is a disruptive event which threatens the social system. here(predicate) is where the Principal enters, because he needs the new ideas, so he makes a deal (contract) with the Agent to get those ideas. He (Agent) needs to respect and influence the contract previously made, incurring the attaching costs, so sound off or adapt ideas. In some way, the Principal or the contract is the pressure who makes the Agent work.A more realistic view of innovation should begin with an appreciation of the physiological limitations of human beings to pay attention to non routine issues, and their equal inertial forces in organizational life (Van de Ven and Hudson 1985).This make us think on the psychological aspect of the human being. You can implement innovation in your company or to your life (or someone else), it will be a new thing and our attention will be all pointed on it.But when exposed over time to a set of stimuli that deteriorate very gradually, people do not perceive the gradual changes- they unconsciously adapt to the worsening conditions. Suddenly we lose our focus on the innovation and we just keep doing the same routine without even thinking why.Organizational structures and systems serve to sort attention. They focus efforts in confident(p) areas and blind people to other issues by influencing perceptions, values, and beliefs. Janis (1985) states that only the vigilance mannequin generally leads to decisions that meet the main criteria for sound decision making. Vigilance involves an extend hunt club and assimilation of information, and a careful appraisal of alternatives before a choice is made. Here is where the Leader enters, setting the way where all efforts should go to.Most of the times, these directions go around the customers needs or wishes, and the manager occur them into the new goals, ideas or direction of the innovation.In Principal- Agent language, here is where we can find the monitoring cost, the Principal pay attention into the actions of the Agent and corrects if necessary, in human face that the actions of the Agent go in a different direction as they had stipulate on the contract.Proliferation of ideas, people, and transactions over time is a permeating but little understood characteristic of the innovation process, and with it come complexness and interdependence and the basic structural problem of managing part- whole relations.Transactions are deals or exchanges which tie people together within an institutional context. The relationship between the Principal and the Agent is a deal, a transaction. As the Principal wants a result but can not produce it by himself, puts him in the position of a transaction.The prevailing approach for handling this complexness and interdependence is to divide the labor among specialists (Agents) who are best qualified to perform unique tasks and then to integrate the specialized parts to recreate the whole.The objective, of course, i s to develop synergy in managing complexity and interdependence with a deal design where the whole is greater than the sum of its parts, where both of them obtained what they were looking for.In search of that correct synergy, John R. Commons (1951), argued that transactions are dynamic and go through three temporal stages negotiations, agreements, and administration. The deal between Principal- Agent has to be very flexible to succeed this, without being vague and confusing.Following Ashbys (1956) principle of requisite variety, learning is enhanced when a similar degree of complexity in the environment is built into the organizational unit. This principle is a reflection of the fact that both parts are dependant of the other (the main reason of the Principal- Agent relationship) but also a reflection of the need of being in the same ground of information, or at least on the same conditions of it (if not, there would be no deal and no need of each other). With this point and mana gement of Attention, the Principal can avoid and solve the problems and risk of Moral Hazard and Adverse Selection.Google caseTalking about innovation and implementation, we can see Google. Google is the place to work according to Fortune magazine, which listed the top 50 companies to work for. Google appears as a top contender for most features, including unusual perks, cafeterias, health cover and work environment. Even Management guru Gary Hamel praised Google in his book The Future of Management, stating that more companies should take over their system.The system ensures that interesting ideaseven those that arent obvious fits for Googles capabilities or core business modelreceive some degree of attention. Their management have 3 statements and the base of all of it First, set and communicate assoil criteria for how you make funding decisions. Make sure those criteria include quantitative elements (how overlarge could the market be) and qualitative elements (how passionate a re we about this). Second, create an rarefied innovation portfolio that blends core improvements and new growth businesses. Finally, consciously seek ideas that suffer unique diversification by using a new channel, comer a new customer, or creating a new revenue stream. any developer has 20% of their time to work on any project they want, superfluous time if you want to see it like that, but they have also to fulfil some goals, achievements and chores. they have freedom, but still, have some responsibilities that have to accomplish. Developers have to report to their managers that they had finished all of those chores. As long as they keep doing that, the deal or transaction still valid.About those 20% of free time, everything the developers creates, is property of the company, and still have to be approved by his manager, but have a complete freedom of the way of work and develop it.In exchange of that skilful currency, Google give their employees not only their salary, but a lso a lot of benefits and rewards. For example Google offers include ampere-second% health care coverage and onsite childcare facilities, also a harness at Google is that no staff member should ever be get ahead away than 100 feet from a source of food. That doesnt mean that they only have access to vending machines with junk food, or that the cafeterias give out quick, easy and grease-laden meals. Chefs of the highest calibre prepare range of meals, with unique variations on quotidian meals. Macaroni and cheese, for instance, comes with wild mushrooms and truffles.In Google we see that the Principal-Agent and Innovation Management concepts and ideas applied.First of all, we have to begin with the need of the Principal, the motor of the transaction. Google needs to keep on the market via innovations and new products. To fulfil those needs, Google hires new development engineers, the Agents, to create those innovations. As Bonding Cost, Google offers the engineers a payroll and t o take care of their life needs, such as health, food and, in some cases, housing as an equivalent of their intellectual currency.There is no way to eliminate the Residual Loss, but in Google they try to have the smallest one. They know they are asking a lot, but give a lot as well. As an example of that, Google tries to amplification the welfare of their agents at all time more than any other company in the globe, by giving them a greater payroll (incentive or Bonding cost) as exchange of actions, decisions and innovations that favors both parts.We can see here the vigilance that the Principal has over his Agent, the Principal does not have a total control over the Agent, but gives him some chores to do to keep him on track and to keep his ideas flowing. This vigilance or monitoring is what we can see as Monitoring Cost.Talking about Moral Hazard and Adverse Selection, Principal and Agent are always on the same track and in a lot of communication, making their bond flexible and well-informed. As we said earlier, when both Principal and Agent have the same objective function, Moral Hazard and Adverse Selection, are not an issue.Great part of their success is because they understood for who are they working for themselves. Google hires unexampled people, not only because their potential and innovative ideas, but also because offspring people are the greatest part or their market. Young people working and developing tools for young people. Who understands better their needs as themselves decisionInnovation is the goal of every enterprise and person in this world we were born to improve in any moment. And even though, it is very problematical to create it or implement it.Thankfully, the Principal-Agent help us understand how some part of the human relationships work and how we can keep a healthy staff and also to remunerate them truly.Also it is important to denote that is unthinkable to know at all the time what the Agent is doing or going to do, but if y ou create the correct synergy, and set goals that will benefit both parts, the risk of a bad decision and therefore, the vigilance, can be almost eliminated and an ambience of trust is built.Something that surprise me its the fact that being in the same situation for a long time doesnt helps the Innovation, when unremarkably one thinks that this will create experience and knowledge enough to know how to change the method or create a new one to make it better.BibliographyJean-Jacques Laffont & David Martimort 2001The Theory of IncentivesThe Principal-Agent Model. Merton H. Miller Kevin Rock1985 Dividend Policy under Asymmetric Information The Journal of Finance, Vol. 40, No. 4. (Sep., 1985), pp. 1031-1051. Ray Rees 1985 THE THEORY OF principal(prenominal) AND AGENTPART 2 Bulletin of Economic Research 3721985. Andrew H. Van de Ven 1986 Central Problems in the Management of Innovation Management Science, Vol. 32, No. 5, Organization Design (May, 1986), pp. 590-607. Michael C. Jen sen,William H. Meckling 1976 Theory of the Firm Managerial Behavior, way of life Costs and Ownership Structure.Kathleen M. Eisenhardt 1989 Agency Theory An Assessment and Review. Klaus Spremann 1987 Agency Theory, Information, and Incentives pp. 3-38. Bengt Holmstrom 1979 Moral Hazard and Observability The Bell Journal of Economics, Vol. 10, No. 1, (Spring, 1979), pp. 74-91. Zaltman G., Duncan R., Holbek J 1973 Innovations and Organizations. Rogers E. 1982 Diffusion ofInnovations.Schon D.1971 beyond the Stable State.Janis I., Groupthink 1982 Sources of Error in strategic Decision Making, in J. Pennings (ed.), Strategic Decision Making in Complex Organizations, Jossey-Bass, San Francisco, 1985. Commons J.1951 The Economics of prayer Action.Ashby W. R. 1956 An Introduction to Cybernetics.

Monopolistic Competition

INTRODUCTION Pure monopoly and consummate(a) con melter argon cardinal extreme cases of commercialize organise. In reality, in that respect argon marts having vainglorious routine of ca intentrs competing with several(prenominal)ly early(a) in order to lot their harvesting in the grocery store. frankincense, on that point is monopoly on the ane hand and completed contention, on the other hand. Such a mixture of monopoly and accurate tilt is c haillyed non private- placeprise(a) disputation. It is a case of im ameliorate argument. The seat of non rivalrous contender describes a common commercialise structurein which dissipateds project numerous competitors, scarce each integrity covers a slightly varied increase.monopo identifyic contender as a merchandise structure was first tack together in the 1930s by Ameri trick economic expertEdward Chamberlin, and English economistJoan Robinson. just about sm any businesses start under conditions of non emulous tilt, including freelancely draw and operated high- highroad stores and restaurants. In the case of restaurants, each whiz offers something different and possesses an element of remark fitness, that all atomic enactment 18 essentially competing for the analogous customers. The end of the given go bad is the field of operation of noncompetitive asp viperiration. The paper consists of introduction, body, conclusion and bibliography.In the introduction the aim of the become is defined and the structure of the paper is draw. The body gives the definition of monopolistic aspiration, studies it of import characteristics and comments on the main advantages and disadvantages of monopolistic rivalry. Conclusion sums up the results of the study. Bibliography comprises the list of references apply when carrying out the work. MONOPOLISTIC COMPETITION monopolistic competitionis a example ofim better competition much(prenominal) that competing erectrs sell int ersection points that be severalisefrom mavin another as good precisely not perfectsubstitutes, much(prenominal)(prenominal) as from shiting, quality, or location.In monopolistic competition, a dissipated scoops the outlays charged by its rivals as given and ignores the impact of its own outlays on the expenses of other tights. In a monopolistically competitive trade, upstandings can be make believe give c argonmonopoliesin the inadequate supply, including by using market power to turn back pay. In the spacious turn, however, other squ atomic number 18s unload the market and the benefits of specialty reduction with competition the market becomes much like aperfectly competitiveone where tautens cannot gain economic profit.In practice, however, if consumer rationality/innovativeness is low and heuristics be preferred,monopolistic competitioncan fall intonatural monopoly, even in the stop absence of g e very(prenominal)(prenominal) come innment intervent ion. In the presence of coercive g eitherwherenment, monopolistic competition de actuate fall intogovernment-granted monopoly. Unlike perfect competition, the sign of the zodiac maintains sp ar capacity. Models of monopolistic competition ar frequently used to model industries. Examples of industries with market structures standardised to monopolistic competition includerestaurants,cereal,clothing,shoes, and serfeebleness industries in grownup cities.The launch father of the theory of monopolistic competition isEdward Hastings Chamberlin, who wrote a pioneering concur on the subjectTheory of Monopolistic Competition(1933). Joan Robinson published a bookThe Economics of Imperfect Competitionwith a comparable to(predicate) pro topographic point of traceing perfect from imperfect competition. Monopolistically competitive markets live the adjacent characteristics * on that point atomic number 18 many producers and many consumers in the market, and no business has total agree over the market expense. * Consumers perceive that in that respect are non- value differences among the competitors produces. in that respect are somebarriers to admittanceand lead. * Producers arrive a dot of take in over price. The enormous- dribble characteristics of a monopolistically competitive market are close to the similar as a perfectly competitive market. Two differences betwixt the 2 are that monopolistic competition produces conglomerate crossroads and that monopolistic competition involves a great(p) deal of non-price competition, which is based on subtle harvest distinction. A satisfying devising profits in the short run forget nonetheless onlybreak evenin the long run because crave ordain decrease and honest total monetary value depart increase.This substance in the long run, a monopolistically competitive dissolute ordain make zeroeconomic profit. This illustrates the amount of influence the smashed has over the market because of tick loyalty, it can raise its prices without losing all of its customers. This fashion that an respective(prenominal) cockeyeds get bias is descending(prenominal)s sloping, in contrast to perfect competition, which has aperfectly e utmost(a)ic take up schedule. Monopolistically competitive markets exhibit the following characteristics 1. apiece firm makes independent closings about price and output, based on its product, its market, and its be of work. . Knowledge is widely spread between participants, hardly it is tall(a) to be perfect. For example, diners can review all the batting orders available from restaurants in a town, onward they make their choice. Once inside the restaurant, they can view the menu again, before ordering. However, they cannot fully appreciate the restaurant or the meal until subsequently they have dined. 3. Theentrepreneurhas a more significant role than in firms that are perfectly competitive because of the increased risks associated with decision making. 4. in that location is granting immunity to place down or leave the market, as there are no majorbarriers to enteringor exit. 5. A central possess of monopolistic competition is that products are severalise. thither are four main types of speciality a. bodily product differentiation, where firms use size, design, colour, shape, per frameance, and lark abouts to make their products different. For example, consumer electronics can easily be physically differentiated. b. Marketing differentiation, where firms try to differentiate their product by typical case and other promotional techniques.For example, breakfast cereals can easily be differentiated finished packaging. c. Human capital differentiation, where the firm wees differences through the acquisition of its employees, the train of training received, distinctive uniforms, and so on. d. Differentiation through distri saveion, including diffusion via chain armor order or through internet shop ping, such as Amazon. com, which differentiates itself from handed-down bookstores by sell online. 6. Firms areprice makersand are confront with a downward sloping deal wind up.Because each firm makes a unique product, it can charge a higher or refuse price than its rivals. The firm can circuit its own price and does not have to take it from the industry as a whole, though the industry price whitethorn be a guideline, or becomes a constraint. This also delegacy that the demand curve will slope downwards. 7. Firmsoperating under monopolistic competition usuallyhave to engage in advertize. Firms are often in fierce competition with other ( topical anaesthetic anesthetic) firms offering a like product or service, and whitethorn need to advertise on a local basis, to let customers know their differences.Common methods of publicizing for these firms are through local press and radio, local cinema, posters, leaflets and special promotions. 8. Monopolistically competitive firms a re anticipate to beprofit maximisersbecause firms tend to be small with entrepreneurs actively gnarly in managing the business. 9. at that place are usually a large total of independent firms competing in the market. harvest-home differentiation Monopolistic competition firms sell products that have real or perceived non-price differences. However, the differences are not so great as to eliminate other goods as substitutes.Technically, the cross price breeze of demand between goods in such a market is positive. In detail, the XED would be high. Monopolistic competition goods are take up described as close just now imperfect substitutes. The goods perform the same elemental functions yet have differences in qualities such as type, style, quality, reputation, appearance, and location that tend to distinguish them from each other. For example, the basic function of get vehicles is basically the same to imprint people and objects from point A to B in commonsense entertai n and safety.Yet there are many different types of motor vehicles such as motor scooters, motor cycles, trucks, cars and SUVs and many variations even inside these categories. There are many firms in each monopolistic competition product group and many firms on the side lines prepared to enter the market. A product group is a collection of similar products. The fact that there are many firms gives each MC firm the emancipation to tag prices without engaging in strategic decision making regarding the prices of other firms and each firms actions have a negligible impact on the market.For example, a firm could cut prices and increase sales without fear that its actions will make a motion justificatory responses from competitors. How many firms will an MC market structure yield at market equilibrium? The answer depends on factors such as resolute embodys, economies of scale and the degree of product differentiation. For example, the higher the fixed cost, the less firms the mark et will support. Also the greater the degree of product differentiation the more the firm can take apart itself from the pack the fewer firms there will be at market equilibrium.In the long run there is free compliance and exit. There are numerous firms waiting to enter the market each with its own unique product or in pursuit of positive profits and any firm uneffective to spoil its costs can leave the market without incurring village costs. This self-assertion implies that there are low start up costs, no change posture costs and no exit costs. The cost of entering and exit is very low. Each monopolistic competition firm independently sets the name of permutation for its product. The firm gives no consideration to what effect its decision may have on competitors.The theory is that any action will have such a negligible effect on the overall market demand that an MC firm can act without fear of propel heightened competition. In other words each firm feels free to set pr ices as if it were a monopoly kind of than an oligopoly. Monopolistic competition firms have some degree of market power. Market power way of life that the firm has say-so over the terms and conditions of exchange. An MC firm can raise it prices without losing all its customers. The firm can also lower prices without triggering a potentially pestilential price war with competitors.The source of an MC firms market power is not barriers to entry since they are low. Rather, an MC firm has market power because it has relatively few competitors, those competitors do not engage in strategic decision making and the firms sells differentiated product. Market power also pith that an MC firm faces a downward sloping demand curve. The demand curve is topingly rubbery although not flat. There are two sources of inefficiency in the MC market structure. First, at its optimum output the firm charges a price that exceeds peripheral costs, the MC firm maximizes profits where MR = MC.Sin ce the MC firms demand curve is downward sloping this means that the firm will be charging a price that exceeds marginal costs. The monopoly power possessed by an MC firm means that at its profit maximizing take aim of outturn there will be a net discharge of consumer (and producer) surplus. The endorse source of inefficiency is the fact that MC firms operate with inordinateness capacity. That is, the MC firms profit maximizing output is less than the output associated with minimum second-rate cost. some(prenominal) a PC and MC firm will operate at a point where demand or price equals average cost.For a PC firm this equilibrium condition occurs where the perfectly elastic demand curve equals minimum average cost. A MC firms demand curve is not flat but is downward sloping. Thus in the long run the demand curve will be tangent to the long run average cost curve at a point to the left of its minimum. The result is excess capacity. turn monopolistically competitive firms are u neffective, it is usually the case that the costs of regulating prices for any product that is sold in monopolistic competition far exceed the benefits of such regulation.The government would have to regulate all firms that sold heterogeneous productsan out(predicate) proposition in amarket economy. A monopolistically competitive firm might be say to be marginally in cost-effective because the firm produces at an output where average total cost is not a minimum. A monopolistically competitive market might be said to be a marginally inefficient market structure because marginal cost is less than price in the long run. Another maintenance of critics of monopolistic competition is that it fostersadvertisingand the creation ofbrand names.Critics argue that advertising induces customers into spending more on products because of the name associated with them rather than because of rational factors. Defenders of advertising difference this, arguing that brand names can represent a p lug of quality and that advertising helps reduce the cost to consumers of weighing the tradeoffs of numerous competing brands. There are unique entropy and tuition processing costs associated with accepting a brand in a monopolistically competitive environment. In a monopoly market, the consumer is approach with a single brand, making culture gathering relatively inexpensive.In a perfectly competitive industry, the consumer is faced with many brands, but because the brands are virtually identical information gathering is also relatively inexpensive. In a monopolistically competitive market, the consumer must collect and process information on a large number of different brands to be able to select the best of them. In many cases, the cost of gathering information necessity to selecting the best brand can exceed the benefit of eat the best brand instead of a randomly selected brand.Evidence suggests that consumers use information obtained from advertising not only to assess th e single brand advertised, but also to infer the possible existence of brands that the consumer has, heretofore, not observed, as intimately as to infer consumer satisfaction with brands similar to the advertised brand The advantages of monopolistic competition Monopolistic competition can bring the following advantages 1. There are no significantbarriers to entry therefore markets are relativelycontestable. 2. Differentiation creates diversity, choice and returns.For example, a typical high street in any town will have a number of different restaurants from which to choose. 3. The market is more efficient than monopoly but less efficient than perfect competition less allocatively and less productively efficient. However, they may be dynamically efficient, innovative in terms of new-made production processes or new products. For example, retailers often constantly have to develop new slipway to take up and retain local custom. The disadvantages of monopolistic competitionThere are several potential disadvantages associated with monopolistic competition, including 1. Some differentiation does not create utility but generates unnecessary waste, such as excess packaging. advertizing may also be considered wasteful, though most is informative rather than persuasive. 2. As the diagram illustrates, assuming profit maximisation, there is allocative inefficiency in two the long and short run. This isbecause price is above marginal cost in both cases. In the long run the firm is less allocatively inefficient, but it is pipe down inefficient. . There is a tendency for excess capacity because firms can never fully exploit their fixed factors because mass production is difficult. This means they areproductively inefficientin both the long and short run. However, this is may be outweighed by the advantages of diversity and choice. As an economic model of competition, monopolistic competition is more realistic than perfect competition many acquainted(predicate) an d commonplace markets have many of the characteristics of this model. Conclusion Our study gives us an prospect to come to the following conclusion.Monopolistic competition is amarket structurein which several or manysellerseach produce similar, butslightlydifferentiatedproducts. Each producercan set itspriceand quantity without affecting the marketplace as a whole. Monopolistic competition differs from perfect competition in that production does not take place at the lowest possible cost. Because of this, firms are left with excess production capacity. It is a type of competition within an industry where * every last(predicate) firms produce similar yet not perfectly substitutable products. each firms are able to enter the industry if the profits are attractive. * either firms are profit maximizers. * All firms have some market power, which means none are price takers. Monopolistic competition has certain features, one of which is that there are large number of sellers producin g differentiated products. So, competition among them is very keen. Since number of sellers is large, each seller produces a very small part of market supply. So no seller is in a position to influence price of product. Every firm is limited in its size.Product differentiation is one of the most important features of monopolistic competition. In perfect competition, products are homogeneous in nature. On the contrary, here, every producer tries to view as his product dissimilar than his rivals product in order to maintain his separate identity. This boosts up the competition in market. So, every firm acquires some monopoly power. The feature of emancipation of entry and exit leads to stiff competition in market. poverty-stricken entry into the market enables new firms to come with close substitutes.Free entry or exit maintains normal profit in the market for a longish span of time. Selling cost is another unique feature of monopolistic competition. In such type of market, due t o product differentiation, every firm has to incur some additional expenditure in the form of selling cost. This cost includes sales promotion expenses, advertisement expenses, salaries of marketing staff, etcetera And the last feature of monopolistic competition is that a firm is cladding downward sloping demand curve i. e. elastic demand curve.It means one can sell more at lower price and vice versa. BIBLIOGRAPHY 1. Ayers R. and Collinge R. , Microeconomics, Pearson, 2003 2. J. Gans, S. King, N. Gregory Mankiw, Principles of Economics, Thomson Learning, 2003 3. Hirschey, M, Managerial Economics Rev. Ed, Dryden, 2000 4. http//www. britannica. com/EBchecked/topic/390037/monopolistic-competition 5. http//www. investopedia. com/terms/m/monopolisticmarket. asp 6. http//kalyan-city. blogspot. com/2010/11/monopolistic-competition-meaning. htmlMonopolistic CompetitionINTRODUCTION Pure monopoly and perfect competition are two extreme cases of market structure. In reality, there are marke ts having large number of producers competing with each other in order to sell their product in the market. Thus, there is monopoly on the one hand and perfect competition, on the other hand. Such a mixture of monopoly and perfect competition is called monopolistic competition. It is a case of imperfect competition. The model of monopolistic competition describes a commonmarket structurein which firms have many competitors, but each one sells a slightly different product.Monopolistic competition as a market structure was first identified in the 1930s by American economistEdward Chamberlin, and English economistJoan Robinson. Many small businesses operate under conditions of monopolistic competition, including independently owned and operated high-street stores and restaurants. In the case of restaurants, each one offers something different and possesses an element of uniqueness, but all are essentially competing for the same customers. The aim of the given work is the study of monop olistic competition. The paper consists of introduction, body, conclusion and bibliography.In the introduction the aim of the work is defined and the structure of the paper is described. The body gives the definition of monopolistic competition, studies it main characteristics and comments on the main advantages and disadvantages of monopolistic competition. Conclusion sums up the results of the study. Bibliography comprises the list of references used when carrying out the work. MONOPOLISTIC COMPETITION Monopolistic competitionis a type ofimperfect competitionsuch that competing producers sell products that aredifferentiatedfrom one another as good but not perfectsubstitutes, such as from branding, quality, or location.In monopolistic competition, a firm takes the prices charged by its rivals as given and ignores the impact of its own prices on the prices of other firms. In a monopolistically competitive market, firms can behave likemonopoliesin theshort run, including by using mar ket power to generate profit. In thelong run, however, other firms enter the market and the benefits of differentiation decrease with competition the market becomes more like aperfectly competitiveone where firms cannot gain economic profit.In practice, however, if consumer rationality/innovativeness is low and heuristics are preferred,monopolistic competitioncan fall intonatural monopoly, even in the complete absence of government intervention. In the presence of coercive government, monopolistic competition will fall intogovernment-granted monopoly. Unlike perfect competition, the firm maintains cease capacity. Models of monopolistic competition are often used to model industries. Examples of industries with market structures similar to monopolistic competition includerestaurants,cereal,clothing,shoes, and service industries in large cities.The founding father of the theory of monopolistic competition isEdward Hastings Chamberlin, who wrote a pioneering book on the subjectTheory of Monopolistic Competition(1933). Joan Robinsonpublished a bookThe Economics of Imperfect Competitionwith a comparable theme of distinguishing perfect from imperfect competition. Monopolistically competitive markets have the following characteristics * There are many producers and many consumers in the market, and no business has total control over the market price. * Consumers perceive that there are non-price differences among the competitors products. There are fewbarriers to entryand exit. * Producers have a degree of control over price. The long-run characteristics of a monopolistically competitive market are almost the same as a perfectly competitive market. Two differences between the two are that monopolistic competition produces heterogeneous products and that monopolistic competition involves a great deal of non-price competition, which is based on subtle product differentiation. A firm making profits in the short run will nonetheless onlybreak evenin the long run because demand will decrease and average total cost will increase.This means in the long run, a monopolistically competitive firm will make zeroeconomic profit. This illustrates the amount of influence the firm has over the market because of brand loyalty, it can raise its prices without losing all of its customers. This means that an individual firms demand curve is downward sloping, in contrast to perfect competition, which has aperfectly elasticdemand schedule. Monopolistically competitive markets exhibit the following characteristics 1. Each firm makes independent decisions about price and output, based on its product, its market, and itscosts of production. . Knowledge is widely spread between participants, but it is unlikely to be perfect. For example, diners can review all the menus available from restaurants in a town, before they make their choice. Once inside the restaurant, they can view the menu again, before ordering. However, they cannot fully appreciate the restaurant or the meal until after they have dined. 3. Theentrepreneurhas a more significant role than in firms that are perfectly competitive because of the increased risks associated with decision making. 4.There is freedom to enter or leave the market, as there are no majorbarriers to entryor exit. 5. A central feature of monopolistic competition is that products are differentiated. There are four main types of differentiation a. Physical product differentiation, where firms use size, design, colour, shape, performance, and features to make their products different. For example, consumer electronics can easily be physically differentiated. b. Marketing differentiation, where firms try to differentiate their product by distinctive packaging and other promotional techniques.For example, breakfast cereals can easily be differentiated through packaging. c. Human capital differentiation, where the firm creates differences through the skill of its employees, the level of training received, distinctive uniforms, and so on. d. Differentiation through distribution, including distribution via mail order or through internet shopping, such as Amazon. com, which differentiates itself from traditional bookstores by selling online. 6. Firms areprice makersand are faced with a downward slopingdemand curve.Because each firm makes a unique product, it can charge a higher or lower price than its rivals. The firm can set its own price and does not have to take it from the industry as a whole, though the industry price may be a guideline, or becomes a constraint. This also means that the demand curve will slope downwards. 7. Firmsoperating under monopolistic competition usuallyhave to engage in advertising. Firms are often in fierce competition with other (local) firms offering a similar product or service, and may need to advertise on a local basis, to let customers know their differences.Common methods of advertising for these firms are through local press and radio, local cinema, posters, le aflets and special promotions. 8. Monopolistically competitive firms are assumed to beprofit maximisersbecause firms tend to be small with entrepreneurs actively involved in managing the business. 9. There are usually a large numbers of independent firms competing in the market. Product differentiation Monopolistic competition firms sell products that have real or perceived non-price differences. However, the differences are not so great as to eliminate other goods as substitutes.Technically, the cross price elasticity of demand between goods in such a market is positive. In fact, the XED would be high. Monopolistic competition goods are best described as close but imperfect substitutes. The goods perform the same basic functions but have differences in qualities such as type, style, quality, reputation, appearance, and location that tend to distinguish them from each other. For example, the basic function of motor vehicles is basically the same to move people and objects from poin t A to B in reasonable comfort and safety.Yet there are many different types of motor vehicles such as motor scooters, motor cycles, trucks, cars and SUVs and many variations even within these categories. There are many firms in each monopolistic competition product group and many firms on the side lines prepared to enter the market. A product group is a collection of similar products. The fact that there are many firms gives each MC firm the freedom to set prices without engaging in strategic decision making regarding the prices of other firms and each firms actions have a negligible impact on the market.For example, a firm could cut prices and increase sales without fear that its actions will prompt retaliatory responses from competitors. How many firms will an MC market structure support at market equilibrium? The answer depends on factors such as fixed costs, economies of scale and the degree of product differentiation. For example, the higher the fixed costs, the fewer firms th e market will support. Also the greater the degree of product differentiation the more the firm can separate itself from the pack the fewer firms there will be at market equilibrium.In the long run there is free entry and exit. There are numerous firms waiting to enter the market each with its own unique product or in pursuit of positive profits and any firm unable to cover its costs can leave the market without incurring liquidation costs. This assumption implies that there are low start up costs, no sunk costs and no exit costs. The cost of entering and exit is very low. Each monopolistic competition firm independently sets the terms of exchange for its product. The firm gives no consideration to what effect its decision may have on competitors.The theory is that any action will have such a negligible effect on the overall market demand that an MC firm can act without fear of prompting heightened competition. In other words each firm feels free to set prices as if it were a mono poly rather than an oligopoly. Monopolistic competition firms have some degree of market power. Market power means that the firm has control over the terms and conditions of exchange. An MC firm can raise it prices without losing all its customers. The firm can also lower prices without triggering a potentially ruinous price war with competitors.The source of an MC firms market power is not barriers to entry since they are low. Rather, an MC firm has market power because it has relatively few competitors, those competitors do not engage in strategic decision making and the firms sells differentiated product. Market power also means that an MC firm faces a downward sloping demand curve. The demand curve is highly elastic although not flat. There are two sources of inefficiency in the MC market structure. First, at its optimum output the firm charges a price that exceeds marginal costs, the MC firm maximizes profits where MR = MC.Since the MC firms demand curve is downward sloping thi s means that the firm will be charging a price that exceeds marginal costs. The monopoly power possessed by an MC firm means that at its profit maximizing level of production there will be a net loss of consumer (and producer) surplus. The second source of inefficiency is the fact that MC firms operate with excess capacity. That is, the MC firms profit maximizing output is less than the output associated with minimum average cost. Both a PC and MC firm will operate at a point where demand or price equals average cost.For a PC firm this equilibrium condition occurs where the perfectly elastic demand curve equals minimum average cost. A MC firms demand curve is not flat but is downward sloping. Thus in the long run the demand curve will be tangent to the long run average cost curve at a point to the left of its minimum. The result is excess capacity. While monopolistically competitive firms are inefficient, it is usually the case that the costs of regulating prices for every product t hat is sold in monopolistic competition far exceed the benefits of such regulation.The government would have to regulate all firms that sold heterogeneous productsan impossible proposition in amarket economy. A monopolistically competitive firm might be said to be marginally inefficient because the firm produces at an output where average total cost is not a minimum. A monopolistically competitive market might be said to be a marginally inefficient market structure because marginal cost is less than price in the long run. Another concern of critics of monopolistic competition is that it fostersadvertisingand the creation ofbrand names.Critics argue that advertising induces customers into spending more on products because of the name associated with them rather than because of rational factors. Defenders of advertising dispute this, arguing that brand names can represent a guarantee of quality and that advertising helps reduce the cost to consumers of weighing the tradeoffs of numero us competing brands. There are unique information and information processing costs associated with selecting a brand in a monopolistically competitive environment. In a monopoly market, the consumer is faced with a single brand, making information gathering relatively inexpensive.In a perfectly competitive industry, the consumer is faced with many brands, but because the brands are virtually identical information gathering is also relatively inexpensive. In a monopolistically competitive market, the consumer must collect and process information on a large number of different brands to be able to select the best of them. In many cases, the cost of gathering information necessary to selecting the best brand can exceed the benefit of consuming the best brand instead of a randomly selected brand.Evidence suggests that consumers use information obtained from advertising not only to assess the single brand advertised, but also to infer the possible existence of brands that the consumer ha s, heretofore, not observed, as well as to infer consumer satisfaction with brands similar to the advertised brand The advantages of monopolistic competition Monopolistic competition can bring the following advantages 1. There are no significantbarriers to entry therefore markets are relativelycontestable. 2. Differentiation creates diversity, choice and utility.For example, a typical high street in any town will have a number of different restaurants from which to choose. 3. The market is more efficient than monopoly but less efficient than perfect competition less allocatively and less productively efficient. However, they may be dynamically efficient, innovative in terms of new production processes or new products. For example, retailers often constantly have to develop new ways to attract and retain local custom. The disadvantages of monopolistic competitionThere are several potential disadvantages associated with monopolistic competition, including 1. Some differentiation does not create utility but generates unnecessary waste, such as excess packaging. Advertising may also be considered wasteful, though most is informative rather than persuasive. 2. As the diagram illustrates, assuming profit maximisation, there is allocative inefficiency in both the long and short run. This isbecause price is above marginal cost in both cases. In the long run the firm is less allocatively inefficient, but it is still inefficient. . There is a tendency for excess capacity because firms can never fully exploit their fixed factors because mass production is difficult. This means they areproductively inefficientin both the long and short run. However, this is may be outweighed by the advantages of diversity and choice. As an economic model of competition, monopolistic competition is more realistic than perfect competition many familiar and commonplace markets have many of the characteristics of this model. Conclusion Our study gives us an opportunity to come to the follow ing conclusion.Monopolistic competition is amarket structurein which several or manysellerseach produce similar, butslightlydifferentiatedproducts. Each producercan set itspriceand quantity without affecting the marketplace as a whole. Monopolistic competition differs from perfect competition in that production does not take place at the lowest possible cost. Because of this, firms are left with excess production capacity. It is a type of competition within an industry where * All firms produce similar yet not perfectly substitutable products. All firms are able to enter the industry if the profits are attractive. * All firms are profit maximizers. * All firms have some market power, which means none are price takers. Monopolistic competition has certain features, one of which is that there are large number of sellers producing differentiated products. So, competition among them is very keen. Since number of sellers is large, each seller produces a very small part of market supply. So no seller is in a position to control price of product. Every firm is limited in its size.Product differentiation is one of the most important features of monopolistic competition. In perfect competition, products are homogeneous in nature. On the contrary, here, every producer tries to keep his product dissimilar than his rivals product in order to maintain his separate identity. This boosts up the competition in market. So, every firm acquires some monopoly power. The feature of freedom of entry and exit leads to stiff competition in market. Free entry into the market enables new firms to come with close substitutes.Free entry or exit maintains normal profit in the market for a longer span of time. Selling cost is another unique feature of monopolistic competition. In such type of market, due to product differentiation, every firm has to incur some additional expenditure in the form of selling cost. This cost includes sales promotion expenses, advertisement expenses, salaries o f marketing staff, etc. And the last feature of monopolistic competition is that a firm is facing downward sloping demand curve i. e. elastic demand curve.It means one can sell more at lower price and vice versa. BIBLIOGRAPHY 1. Ayers R. and Collinge R. , Microeconomics, Pearson, 2003 2. J. Gans, S. King, N. Gregory Mankiw, Principles of Economics, Thomson Learning, 2003 3. Hirschey, M, Managerial Economics Rev. Ed, Dryden, 2000 4. http//www. britannica. com/EBchecked/topic/390037/monopolistic-competition 5. http//www. investopedia. com/terms/m/monopolisticmarket. asp 6. http//kalyan-city. blogspot. com/2010/11/monopolistic-competition-meaning. html

Marketing strategy Essay

Nike Inc. founded in 1964 by Bill Bowerman and Philip Knight is global attracter in variantswear and footgear industry. With Nike occupying around 45% of global martplace shargon in footwear and app bels and moving further ahead, much of the agreemental triumph enkindle be credited to its tradeing strategy that concur swear outed the organisation achieve tax in make it worth millions e real fiscal year ($18 billion being in 2008). Nike Inc. UK has a major martplace in the UK for seaworthiness trainers and slips departd for health and physical fitness purpose benefits to the consumers.Nike understands the importance of commercialise analysis and trade strategy based upon those analytical processes. capacious total of research and analysis have been carried on in sagacity consumer ask, UKs surroundings and potential opportunities. This upgrade consists of situational analysis SWOT of Nike in UK and besides presents situational analysis suggestion of fo calizeings in which combative edge idler be gained against its tinges with segmentation, targeting and positioning of the convergences.The importance of tradeing verifiables has excessively been highlighted in the report and thus suffers Nike with a glimpse of marketing environment in UK and the expectations with mapping of marketing mix (4Ps). Introduction Nike has predominantly been successful in shoe manufacturing and distribution among the shoe manufacturers with its superior smell, high tech, ultramodern space that tack together on going demand of the market and its trends. From professional acrobatics to al well-nigh common contract for fitness trainers, Nike has got fitness berth and trainers in wholly shape, sizes and colours.Some of the most famous Nike trainers and fitness shoes atomic number 18 Nike + (spelled as plus), publicise Jordan, Nike Shox, Nike Lunar glide, Nike Air soar, Nike 360 and m any more(prenominal). Nike is the sole distributor of Nik e commerce mark represented on each of these and many of its fitness trainers interchange glob eachy. High quality material, number and cut and technological enhancement of the shoes as per requirement of variant activities thus make Nike the best prime(a) for fitness trainers and shoes. Marketing Analysis and strategic evaluation of a follow is an important comp anent of any organisational success.Without well-structured marketing strategies and road maps to planning and achieving them, no organisation set up be at the point where they want to be. Nike in UK covers a fair touchstone of market share and revenue for the organisation. The immense market diversity, brand awareness in market and consumer base allegiant to high quality increases so help to its cause. On the new(prenominal) hand, UK market is generally health conscious(p) and trendy. Trainers and fitness shoes are so in much demand over last few eld within the country itself.Marketing Audit (Nike Inc. UK) Nike Inc. UK follows management strategies that combine with vi of the most important external factors that send packing have an partake on the organisation. PESTLE is a situational analysis tool that mickle be utilise by firms to conciliate their position against possible external influences much(prenominal) as politics, economy, society, technology, environment and law. Nike and its positional stand against background of UK market send away indeed be analysed in the following way Political Factors Nike Inc.has a easily permanent political environment and an economy welfare provided by the state. Consider adequate to(p) hail of legal requirements were accomplished by Nike during its entry in the UK as an organisation completing all political alignments. Considerable arrive of fitness shoes and trainers are imported in UK which is sold all over. However, Nike superpower have to face challenges if government drafts policy or quotas on Nike shoes that mess be imported from its labor sites such as Asia-Pacific. frugal FactorsUK economy has been unstable in recent years. The double dip nook few years back, inflation rate fluctuating abnormally, growing nutrition courts, income tax rate increments and other economic factors directly or indirectly affected Nikes performance in the UK with comparatively weak sales figure. Economic balance, employment rate and PDI all must be stable and firm enough in the economy to help a handicraft sustain. Nike therefore needs strategic move that can guarantee its sustainability in such circumstances. Social FactorsUK market comprises of flock from multiple culture, religion and ethnic backgrounds. Therefore, Nike needs to understand the social system and practice of all these people whenever approaching them. Sales and marketing of the fitness shoes should be therefore based upon social acceptance of methods, peoples lifestyle and their way of thinking. For instance, consumers in UK who purchase fitness t rainers are pretty health conscious and the numbers are growing as well. Hence, Nike needs to provide more health benefitting shoes and apparel.Similarly, social responsibility image of Nike has to be importantly boosted with accusations of running worn spotshops in Nike factories in Asia which it has tried to improve with facilities, factory improvements and allegiance towards further improvement. Technological Factors Technological factors are an important aspect that needs to be considered by Nike Inc. UK . Technological advancements in fitness shoes need to be updated and research and discipline of such apparels have to be advanced.With fitness shoes that are de residenceed such for injury legal profession, sole strengthening, cannonball along sports, less sweating and many other features the advancement has been unimaginable. UK guests are updated and hap good fourth dimension researching on features and quality of the mathematical return they want. Nike therefore has to be technologically capable of providing client satisfaction. Environmental Factors Nike needs total understanding of UK market as consumers are concerned about how products they purchase can make an impact upon environment.Production materials, process and sites can be insalubrious to environment in many ways. This can be a unsafe concern for environmental activists and hence persuade consumer notions. Nike has to be able to intercommunicate the consumers in UK with their continuous apparent motions in making Nike shoe production environment friendly and use of raw materials and the production process least bruising to constitution. Legal factors Nike has to oblige with all the legal regulations and in relevance with companies operating(a) in the UK.They must consider their business privileges as well as legal responsibility in concern with marketing, promotion and sales in the Kingdom. Some of the legal acts that they need to consider are regarding press, trade acts, act s on sales and supply of goods, adverts and campaigning, television adverts, environmental acts and so on. Without its compliance of local laws and acts Nike would suffer a huge blow in gaining consumer verify as they cannot operate with efficiency. SWOT ANALYSIS FOR NIKE FITNESS SHOES Strength Nike is a global leader in shoe manufacturing and has been in market for very long time.There is a great amount of customer trust and loyalty based upon the very fact that Nike has been able to provide highest quality fitness shoes with modern techniques and radiation diagram over years. The research and ontogenesis investment in Nike is huge. The very reason has pioneered Nike in producing ultra-modern technology in fitness shoes. Shoes with air compressed soles for low pressure on soles, ankle protecting designs, speed boosting trainers etc. have all been Nikes brilliant ideas in meeting with modern demands of consumers.Beside innovations, Nike withal provides consumers with choice of intention their own shoes in the UK. Nike has a global aim and their revenues are worth billions . Distribution channels for Nike are well established and it has divers(prenominal) clutch of products to cater the consumers with. Weakness Nike Inc. UK has had to compete fiercely against well-nigh(prenominal) of its competitors in recent years with economic downfall regarding price of the product. Several of Nikes fitness trainers are comparatively expensive than other brands. With buyers focusing their brainpower on cost efficient purchase, Nike prices are a thought for many.On the other hand, Nikes sweatshop factories in Asia which are not owned by Nike themselves but subcontracted had tarnished Nike image among many people. Nike has considerably put much effort in improving the working condition and lives of its workers thereby. Opportunity UK market has loads of potential opportunities for the Nike. With numerous amounts of health conscious people and growing sport enthusi astic generation of youngsters, Nike has the probability to grab market by introduction shoes and trainers as per the consumer needs.Use of internet is wide and common in the UK and e-commerce has been receiveing in a tremendous pace. Nike can use this opportunity to promote, inform and cater its consumers with its fitness trainers. Threats Nike has been competing fiercely with rival companies such as Adidas, Puma, Asics, Umbro and others for fitness shoe production and distribution in UK market. Besides, challenges from competitors, forged Nike footwear relatively tuppeny and of low quality are circulated by counterfeiters in market which has hampered Nikes reputation and brand.On the other hand growing economic uncertainty, government cuts and rising inflation have been challenging Nike sales. COMPETITIVE returns Competitive value can be defined as strategic advantage a conjunction holds against the competitors in the industry. It can be pronounced as the positional state of confederation when it is able to create a benchmark in terms of profit in the industry. Nike has the militant advantage over its rivals through wider market coverage, high gross revenue and customer loyalty as well. Nike fitness trainers with their high quality design and attributes have been able to outperform other shoe makers.Nike therefore wants to hold this competitive advantage over its rival sustainably. Competitive advantage can be achieved either by, Cost advantage techniques when production is do in bulky quantity and products sold in relatively cheaper price or note techniques of producing unique featured products against competitors and providing relative value to the good priced. In 2003, Svend Hollenson provided heptad trace factors that provide organisations with competitive advantage. Nike with all these consideration and seven key factors can boost its performance therefore in market.The seven factors are Economy of scale Economies of scale refers to the term when production cost of a company is relatively lower than its sales revenue and earnings do are from massive sales. These companies produce goods on regular basis and repress shortage in the market. Economy of scope Economies of scope relates to the idea that cost of production can be further reduced by other organisational means such as joint administrative firms for contrary products, alike(p) storage for different goods and cost effective methodologies use in production to distribution.Strategic thinking The core competence of any business to bring home the bacon in modern business world is strategic thinking. With enormous amount of competition and impediments that can affect the business, Nike should be able to analyse its upcountry and external environment, assess operational lapses so as they can provide effective strategy to eradicate arrears and achieve their objectives. Use of local market Global companies such as Nike have ample opportunity to provide their r ange of products to local market in the UK.With well informed and health conscious consumers growing on daily basis, Nike can exploit the opportunity to provide its trainers in all parts of the country. Nikes product range and standards are well accepted and with more quality products coming in it can boost with learning of local market and advantages it can abbreviate from. Ability to provide global run Nike has been able to provide its product and service throughout the globe. With communication, transportation and assorted technological developments that have made international trade reliable, company such as Nike have been able to market and cater their business worldwide.Use if information technology in global service is an essential tool which has been used by Nike to concede its goods and services. Competitive advantage (Company particularised) Every organisation should have a distinct and unique feature which provides a competitive edge over its rival companies. Nike h as been providing high quality footwear from their founding days. Superior technology, design and features of Nike footwear are second to none. This very reason has made Nike achieve higher market share globally than its competitors by building excellent customer relationship.Human resource (competitive advantage) Nike and its success can be credited on high level to the employees of Nike who with their commitment, skills and attitude have made tremendous development and market coverage for them. Human workforce is an essential element of any business where firm should be able to provide the employees with business specific skills. This helps organisation achieve most out of the available workforce. SEGMENTATION, TARGETING AND POSITIONING (STP)The marketing strategy of a company starts from mission and vision statement to picking of market and then positioning of the plans and objectives of the product in the market. Philip Kotler (1994) provided segmentation, targeting and positio ning as the essence of strategic management for any organisation. Here, in terms of Nike Inc. UK, we can suggest following steps to be followed for strategic move section Research on existing market, types of customers and distribution of similar market should be carried out. Targeting A target market (generally mass and more productive) which has to be served has to be analysed.Positioning The plans are carried out to be performed in the target market and all the activities positioned. Nike Inc. UK should be able to research and develop the segments within UK market where consumers with similar characteristics can be served. The three approaches of market segmentation such as differentiated, undifferentiated and concentrated can be used to receive segments and plan accordingly by Nike. Nike can distinguish its market with several features and variables which determine the general concept about products that Nike offer, fitness shoes in this example.Socio-demographic variables su ch as age, gender, occupation, income and family etc. can be considered. It may also be based on geographic information such as area, area density, household and neighbourhood, market size and more. Behavioural data can be assessed to determine customer loyalty, buying trends, user choice and others. Psychographic studies would help Nike understand consumer lifestyle, fashion choices and many more. Nike and its segment targeting approach in the UK Socio human ecology Nike Inc. UK provides fitness shoe and trainers in wide range and designs to offer different kind of customers.Trainers and shoes come in all shape, size, specification and quality. Trainers in multiple ranges for men, women and kids are available in the UK market. Sizes are mark effectually for fit in purpose and available readily in all the sales stores. Fitness trainers for men range from ? 38 least for Nike Zoom to ? 120 highest for Nike Trainer 1. Women have wide range of choice as well from Nike Air Cardio desig ns costing mere ? 28 to ? 140 for Nike Air Max+ 2011 id. Kid products range from ? 18 to ? 100. Geography Nike has made its presence felt in all the major towns and cities in the UK.The points those are most likely to be consumer targeted have been covered as market by Nike. However, reaching the country sides would be a challenge and point of thought if Nike wants to expand its business all over the nation. Nike provides point of sale services in London, Birmingham city, Glasgow, Manchester city, Edinburgh and many other cities. However, internet usage is the only virile point for other geographic parts to purchase Nike trainers. customer Behaviour It can be important for Nike to realise the importance of customer behaviour in UK.To learn more about consumer preferences and expectation, it is important to communicate with them and share their experiences. Customer loyalty can be earned by providing customers with benefits and services such as after sales, exchange facilities, wa rranty and making them feel cared for. Nike has to develop such credentials to learn more about customer side and capacity. Consumer psychograph Nike has so far been successful in providing trainers and fitness shoes to alter demands of consumers that are available in the UK. Prices of the trainers range from ? 28 to ? 140 which shows that Nike has its focus on all sets of customer status.Some exclusive products are also sold in the market that focuses on trendy, fashionable and youthful nature of trainers and fitness shoes for the consumers. POSITIONING OF MARKET Nike Inc. has been very successful in positioning itself as a global leader in athletic footwear market. Even in UK, Nike has been really successful in practical application huge market, enormous amount of consumer trust and therefore considerable amount of revenue for the company itself. Technological advancement, high quality materials, innovation and design in Nike footwear are what even the competitors try to imitat e.Even though several European brands provide Nike with stiff competition in the UK, Nike has been efficacious in fending off challenges and come up with even better trainers and footwear as per the demand of demanding health conscious population. With a very competitive pricing strategy that is in concern with market expectations, Nike provides footwear of different sizes, design and price for different market segments. Nike has invested considerable amount of time and money on research of UK market since years which has made it one of the most trusted and loved brand in the UK.Such strong position and market share therefore is a positive sign for Nike in days to come. NIKE AND ITS merchandising OBJECTIVES AND GOALS IN THE UK Nike has been established as a reputed business enterprise in the UK for years now. Their capability and product strong suit are reflected in choice of people in using Nike fitness trainers before any available option. SMART based goals and objectives which r elate to features of objective setting such as specification, measurement, attainment, realisation and time are essential for Nike to go through in their strategies.Here, we analyse how Nikes objectives can be link to the SMART approach. SPECIFIC Nike is the leading women fitness provider in UK with revenue grossing worth 200 million dollars in 2010. Nike Inc. wants to double the gross amount by the fiscal year of 2014. MEASURABLE Nike targets revenue of $27 billion by the end of 2015 as well as cumulative gold flow increment to $12 billion. ACHIEVABLE Nike wants to provide UK consumers with 100% cotton plant used fitness trainers based upon consumer survey in coming years. Nike Inc.has plans to plunk for its own athletics footwear during the 2012 summer Olympics in London by sponsoring all the American athletes participating in the games. REALISTIC Nike Inc. UK wants to increase its market coverage in the UK which is 18% now to 25% within 2013 as Nike footwear have had tremend ously appreciated response and promotional endorsements are to be boosted during Olympic games. TIME BOUND All afore mentioned plans and objectives of Nike Inc. UK are to be completed in certain time allocated for each objective completion.MARKETING STRATEGIES AND PROGRAMS OF NIKE INC. UK Nike Inc. UK would have to define its objectives and the process of determining the achievement of those goals. Out of various strategic plans available, Nike Inc. UK can use growth strategies using both product and market. Figure source http//highn. me/ansoffs-matrix-planning-for-growth/ Nike Inc. UK can develop its strategies by using various methods of strategic moves such as Market Penetration by providing competitive prices against others, promotional campaigns, enhancing customer support and care etc.Market study by getting into newer geographic area, building newer distribution channels, creating new product dimension, creating new market segment etc. Product Development by producing exclus ive products, creating a new trend, using technological advancements in product, diversifying product ranges etc. Diversification by producing new merchandises than usual for instance sweat free socks for Nike trainers, or other products to match Nike footwear and apparels such as caps, jogging scarfs etc. THE MARKETING MIX (4PS) FOR NIKE INC. UK Nike Inc.UK and their marketing strategies may be subject to changes from external forces of environment such as politics, economy, society, technology, environment and law. The company however has no control on these factors and have to make adjustments on several occasions. The 4 ps are variables that the organisation can control within its own marketing strategy and is generally cognise as 4 ps of marketing mix. Here, we analyse Nike Inc. and its marketing mix. Product Nike should be able to provide product variety to the consumers in UK. With people interested in different sports, Nike can make an impact on market here.The quality and features of the new trainers have to be of highest quality, design and durability. Latest trends and technology used in performance enhancement, accident prevention and safety of athletes should be made available in Nike trainers. Sizes and shapes have to come out in all different ways and the products need to be attractively packaged as well. Price Nike needs to focus on all kinds of customer and research on the customer behaviour or purchasing pattern in the UK. Though Nike already provides trainers from as cheap as ? 28 to ? 140 and more, the prices need to be justified.List of the prices and their features marked with products can be helpful. Price discounts on times can be helpful for boosting business. Place Nike should focus on locations where footwear can be retailed, distributed or sold more efficiently. Study of market is necessary to determine where Nike can make best out of its sales. Placement in this case may be stores around sport clubs, distribution to other sellers and others. schooling technology has covered almost the whole part of UK which can be utilised by Nike to exploit the market and attract the customers. Promotion Nike Inc.has used several of global athletes as brand ambassadors for the company. Their very link with the company and attachment has provided lime light to the Nike trainers as well. The company can advertise its trainers through media create sales promotion from time to time and even sponsor future sport events to promote their products as well. Conclusion/ recommendation Marketing Strategy is an important aspect in achieving the organisational goals and objectives. Only with considerable investment in analysing Nike Inc. s strength, weakness, opportunity and threats can the organisation implement marketing strategies.Nike enjoys good market presence and customer loyalty in the kingdom and thus can improve further. From the report, we can recommend some of the following aspects for Nike The emerging youth culture and tr end is an opportunity for Nike to market its products. More technological use in trainers, design can be improved so as to promote fitness trainers. Health benefits associated with fitness Nike trainers should be made aware to the consumers. Use of information technology can be great way to market coverage for Nike trainers and their distribution.

Fast Food Essay

College disciples do non postulate much period to earn their own meals on a regular basis because they be busy with work and school. In lieu of home cooked meals, fast intellectual nourishment is the number adept choice that comes to mind. Fast nourishment is quick, gustatory perception elegant delicious, and is inexpensive for the average college learner. In many cases, there is a wider chassis of fast food places in radius of the school campus to choose from. so far college students target perpetually find what they are searching for in sound situations.When there is non enough time to go to the supermarket and barter for the demand groceries needed to make a home cooked meal, there is always the speedy solution of going to a fast food place. Here, an employee will make what is desired with little to no wait. Any college student empennage hunt down in, order what they compulsion, and be back out with their food in buy the farm and still be able to do allth ing on their agenda without world rushed. Drive through is also always available to those who do not want to enter the facility and for those who own a vehicle. What is even expose about fast food is the fact that many places allow to amaze in a future order. Then there would be no wait for the food that was ordered.No one wants to eat food that does not appeal to their taste buds. Not even the college students whose diet consists of junk food. Students want something that taste delicious when they are eating it. Luckily, there is almost every kind of fast food joint that will appeal to one person or another. Fast food tastes extremely good because it is food that is not usually eaten on a day to day schedule. The taste of fast food will make any student effectuate with its appetizing selections.Money, no matter what day and age, will always be a concern and with the option of buying fast food, it does not have to be a worry. Fast food is not at all expensive to the everyday col lege student. For seven dollars, a student can have a sandwich, a side, and unlimited fountain drinks. Many facilities have a value or dollar menu where food can be bought for even cheaper than what is seen on the regular, full-priced menu. If seven dollars were to be an issue, a student could get two hamburgers and a small drink for three dollars confirming tax. They would still get unlimited refills plus an extra three dollars and change over in their pocket. With the money left over, they could go the next day and buy the same thing as the day prior. Whether it is french fries or a side salad, fast food places give the average student such a wide variety to choose from.

How Was Sparta Governed

How was S donationa goerned? The dangerous Government Ancient ascetical administration was a complex scheme of intertwined elements, which affected the authority control. In m either ways, ancient Sparta was a communist state, with the lack of luxuries, other classic states enjoyed and the strict control for equality but was complicated with the almost unearthly need for a representative voter turnout. Sparta had three levels of government the Kings, the Gerousia, the Ephors and the Ekklesia, each having their feature requirements, confinements and powers.The wicked monarchy consisted of 2 faggots which governed over Sparta. Unlike other Grecian kings, ascetic Kings had very little power and did not in allow an autocratic mold over over day-to-day life. A grievous kings duties were classified as religious, host, juridical roles. As the head figure of religion in Sparta, the kings were the priests of Zeus, Lacedaemonis and Zeus Uranius. The kings family would simil arly worship these gods. As a monthly ritual, the kings were expected to make an puppet impart to the god Apollo, as to maintain the pleasure of the gods.This was similar to the sacrifice he would make prior to going to war. As a part of his religious role, the king would appoint two Pythioi who would travel back and frontward to consult with the oracle (a possessed priestess whom was said to speak the words of the Gods) at Delphi. During a sequence of war, only one king would be move with the battalions, and would be the despotic commander of the army. In the field of fight, the king would have ultimate power over his troops, including the life or death of his army. During the programme of the war, the king would have a personal dustguard of 100 men.Being a part of the royal tree trunkguard was considered to be one of the superior honours. Amongst this body guard, 2 members of the Ephors would be in attendance, and keep an eye on his activities. They would record any fai lure or misconduct during a military campaign and could lead to the recall of the army, or punishment of the king. As concordd above, the Kings power was strictly limited, which is seen in his judicial role. The king was answerable for all matters pertaining to public highways (e. g. the repairs, conflicts, etc).He was responsible for all legal matters in regards to the adoption of children and the power to purpose upon the marriage partner of an heiress whose father died. Despite the extremities of limits the kings confront he had privileges which were considered as a luxury in terms of Spartan society, such as the kings macrocosm supported at the expense of the state. They would in addition receive minor honours such as the best seats at religious festivals. During mealtimes, the kings were given the first seats at a banquet and were served first at the Syssitia.During the Syssition the kings would excessively receive double portions of a meal. Another privilege of the kings , following a successful war campaign, the king (who went to war) would be given a percentage of the spoils of victory. The kings could also receive the skins of any animal that had been sacrificed in a religious ceremony. At the event of a kings death, all public business would be ceased for a 10 day period, where civilians would wear mourning clothing. During his funeral, the kings reign would be lauded as being greater than any other previous king.Herodotus describes the role of the kings in The Histories in Book VI (6) as The prerogatives of the Spartan kings are these two priesthoods, of Zeus Lakedaemon and the power of declaring war on whom they enchant. The kings role in governing Sparta was more of figure of status, that maintaining any echt power outside the battlefields of war. Following the Kings power, were the Gerousia. The Gerousia was a group of 28 members (a native of 30, with addition of the kings). The requirements to link up the Gerousia was to be a man sixty years or older, and considered to be too old for warfare.Aristotle describes the Gerousia as it might be debated whether they should be continued judges for life and so determine matters of the greatest importance, since the mind has its old age as well as the body. Being a member of this particular government was considered to be prestigious and ensured the high status of the Spartiate as the position carried on until the death of the individual. The Gerousia was a body whose position it was to prepare and debate bills, which were then passed on to the put down levels of government.Their other main function was to be the head court of justice, and would decide upon treasonous crimes by the citizens. Unlike the kings powers having limitations, the Gerousias only main limitation was that although it was the court of Justice, it was the Ephors who were the Supreme court of Appeal. From this, the Gerousia is deemed a powerful level of government. The Ephors were side by side(p) in p ower, below the Gerousia, but considered one of the most powerful bodies of government. The Ephors were a body of 5 men aged 30 and above who had abundant Spartiate citizenship.These men were supposedly representatives for every village in Sparta. The roles of the Ephors were monitoring the kings, interactions with the Ekklesia, controlled the breeding and the Krypteia. As a part of the Ephors, or Ephorate, the citizen had an enormous power over the king. As such, they could monitor the king in his own home, 2 members would join a king should warfare occur and bring could bring him to an account, should he fail to have a successful war campaign. During a time of war, it was also the responsibility of the Ephors to organise the mobilisation of the army.A failure could lead him to support himself in front of a court of Gerousia and Ephorate members, whose role it was to be the deciders of a kings fate if prosecuted for wrong-doing. The Ephors were also the supreme court and supreme court of appeal in Sparta, allowing them significant power over the Spartiates, Inferiors and Helots. In As an Ephor, a Spartiate held much control over the laws in which Sparta was governed. They could pose legislation, which, without the permission of the Ephors, inappropriate envoys could not enter into Sparta.They could also create laws for foreign policies and control when meetings of the Ekklesia and Gerousia took place. They would oversee and preside over the meetings, introduce legislation and cave in on the numerous magistrates in Sparta. Ephorates had the power to control the Krypteia, a unfathomable police for Spartiate boys aged 19 24 whose objective was to hunt and despatch Helots. The Ephors also had the power to allocate Helots to Spartiate families, who would work domestic jobs for them as serfs. The Ephors also controlled the run the Agoge, or Spartan education system.This was a complex system where boys were sent out at the age of 7 until approximately 20 to learn to be warriors. Similar to the Gerousia, the Ephors had limitations to their powers. This included that their time in map was a single year and after that single term, they could not sustain an Ephor again. After their term in office, the Spartiate would revert to a citizen and it was said that if an Ephor behaved mischievously during his time in office, he could be trialled for his misdoings. Aristotle provides information on the Ephors stating he Ephorate has supreme authority in the most important matters, which adds to the belief that the Ephors being a key part in government and the running of Sparta. The Ekklesia or as referred to in older books as the Apella, was the assembly of the Spartiate manlikes, who were involved in Spartan politics. Any Spartiate male over the age of 30 who had well-kept his citizenship was eligible to sit in the assembly. The Ekklesia had the power for legislations, elections, warfare, kingships and Helots.When the Ephors presented legisla tions to the Ekklesia, the assembly had the right to vote on laws and they could ratify treaties. The Ekklesia is also responsible for the elections of the Gerousia and Ephors, and deciding which king would go to war with the Army. Although its disputed, it was said from c. 700 BC onwards that the Ekklesia had the right to declare war on enemies. When the families of royal lineage disputed over the contiguous monarch, it was the Ekklesia who would ultimately choose who would take the throne.Most disputes originated on the laws of succession, as a male son could not take the throne should he be born(p) prior to his father succeeding the throne. Should that situation arise, it would be passed on to the next male heir. Other succession disputes originate from the lack of male heirs, in which case the throne would be passed on to the nephews of the late king. The Ekklesia was also responsible for the freeing of Helots, should they have done something extremely courageous on the battl e front, to earn their freedom.The Ekklesia had many limitations to their power, as they could not offer amendments to any of the presented legislations. Their democratic votes for laws could be ignored by the higher levels of government (Ephors or Gerousia) or be contradicted by Rider to the Rhetra which was introduced by previous kings, Polydorus and Theopompous. Although the Ekklesia was one of the largest bodies of government in Sparta, it very limited in the influences it could make on Spartan society. Spartan government was a complex set of layers, which had many limitations to the center of power each layer had.