Reflective Practice Essay

Reflective practice is the process of looking back on the work you have previously done in order to get better understanding of yourself, how you work, your thoughts, feelings and anything you can learn from those experiences, whether good or bad. It is a way of learning by reviewing and thinking back over a situation or an activity. As a result you can identify your strengths and weaknesses and start working on improving yourself. Most of the time you do some form of reflection without even realising it. You can use different methods for a reflective practice: keeping a diary or a journal, writing down what happened can help you get a clear picture of a situation having a debriefing, supervision, group discussion as your colleagues and manager can provide a vital support and help in reviewing your practice simply taking a break and thinking about what happened can help you put your thoughts in order. Following an example of a reflective circle, that contains six steps, can give you an idea of how to reflect. 1. Description- think about what happened? 2. Feelings- what did you think and how did you feel about it? 3. Evaluation- what were the positives and the negatives? 4. Analysis- what sense can you make of it? 5. Conclusion- what else could you have done? 6. Action plan- what will you do next time? Reflective practice is important as it helps to improve the quality of service we deliver. It can give you an awareness of your own personal thoughts and feelings, your strengths and weaknesses. It can help you identify learning needs, which areas you need to improve and work on. In effect it’s a great professional development tool. Reflective practice can help you learn what works for certain service users, as they are all individual, sometimes different approach and attitude needs to be taken. You will gain the knowledge of what could be added or taken  away in order to provide an individual care package. It will help you to think about how you work, what you’ve done well and what can you do to improve the things in the future. Care Standards are essential when it comes to a reflective practice as they help care workers provide the same quality of care across the service. You need to know the standards to understand what is expected of you as a support worker, you should than reflect on them to make sure they are met in your every day work.

Media Stereotyping

IndividualFinal Project| Write a 1,400- to 1,750-word paper that answers the following questions: * In what ways does the media perpetuate stereotyping and prejudice? Provide examples to support your assertion. * In what ways does the media help foster appreciation for diversity? Provide examples to support your assertion. * How might individuals and the United States work together to reduce prejudice and increase appreciation for diversity? * How might you change your own behaviors to be more inclusive and pluralistic? | Day 7| 10| ————————————————- *In what ways do the media perpetuate stereotyping and prejudice? Provide examples to support your assertion. America is a relatively young country born in war and to this day continues to struggle with its identity. What makes this country strong is the ideals of freedom and equality. â€Å"We hold these truths to be self-evi dent that all men are created†. This is the ideal makes America strong, that no matter where you come from rich or poor that you as an American can achieve the American dream. We have had our struggles, but that is what makes us strong. It is not been an easy journey, we have paid dearly for our freedoms and our way of life.Some people have paid more than others to struggle for the freedoms guaranteed from being an American. Diversity can be traced all the same lines as civil rights movement in America. There is been a fierce battle for independence of different peoples spread across this land. From the deep South and the marches of Martin Luther King Jr. to the Northeast and the persecution of the Puritans. The Southwest has become the new battleground for diversity with the battle against illegal immigration. Some of the information about diversity United States is on display at the Smithsonian Institute in Washington DC.To truly understand the struggles of the civil rights movement and the role of diversity in the southern states throughout the 50s and 60s, you really have to go and see the bus seat of Rosa Parks. You have to see the soda fountain counter and the fire hose used to what a young black man down the street in Birmingham Alabama. I think that the most important point about diversity and one that cannot be silenced as the voices of the people that live this struggle every day, and the forums like this class that bring people from all walks of life from around the globe together to expose the ignorance of racism and prejudice and discrimination.Have you learned something new about your own racial, ethnic, or cultural history? * My history is of Irish decent we came to America for better life. We paid that price in hard work and blood. We came here as indentured servants that we had to work our way to freedom, never once was the American dream promised to us we earned everything. I think that the struggle that we had to go through game us a s ense of pride in America. It was the Chinese and the Irish that built the railroads across this country. We dug the coal that fired the furnaces of the steel mills and we came from places like Hell's kitchen New York City.What this forum has done for me has given me a sense of pride that just not the Irish and the Chinese struggle for the freedom but it seems as if all of the in one way or another had to fight for everything that we have accomplished. Trends in immigration will continue to shape the demographics of the United States. What will the U. S. population look like in the year 2050? Why do you think so? Everybody around the world wants what America has because we have the ideals of freedoms and the dreams of success the great immigration to America will continue.At the present time America has about 20 million immigrants from Mexico and South America. As economies of Third World country continue to deteriorate more and more people will come to America. Everybody wants what America has but because of the agendas of Third World country politicians and the corruption of governments and the war over illegal criminal activities the safe haven of America will still be the priority of people around the world. The demographics of the United States we will continue to move to a change in diversity from a white majority to really know majority at all.The Hispanic population continues to grow in America while the white population continues to decline. The African-American population has already moved from the largest minority to the second largest minority be replaced by the Hispanic minority. If this trend continues by 2050 we can see the Hispanic population become the majority of the largest minority and other people who have not had to fight for civil rights may now find themselves as a beneficiary of those civil rights battles fought by other minorities. What challenges does the United States face due to the diversity of its people? The first issue that come s to mind is language.If the Hispanic population becomes a majority will we see a change in the language that is not only taught but spoken in America. Many merchants and government agencies now speak Spanish as well as English. The challenge of communication is going to be getting everyone on the same sheet of music. I recently been into a store that is predominantly Hispanic and many of the labels are printed in Spanish I have also been a store where the labels are printed in Arabic in order for America to maintain diversity without separation we will have to have a common language that is spoken and written by everyone.Any area of civil rights those court cases that were settled with the idea of a white majority and other minorities may now be referred as a white majority will find itself as a minority. So with that in mind will we see affirmative action for white people? What will be the reaction of the minorities and those court cases are turned around and used against them. Wh at are the benefits of such a diverse society? The benefits of a diverse society is one that a brings equality everyone. With a more diverse society we should not see the need for racial, sexual or disability court cases.More diverse society will be a more understanding society by that I mean that we should not have to force a building or company to put in a wheelchair ramp it will simply be understood that one is needed. The more understanding society will bring about the benefits of less crime less people in prison which will save us all tax dollars and the burdens that are put upon society by hate crimes. The benefits of this society will only continue to get better as the ignorance of discrimination is eliminated from our mindset.How can we foster a climate of acceptance and cultural pluralism in the United States? * The foster a climate of acceptance in United States we will need to revamp our education system. We need to bring more exposure of different races into the schools of our children. We will never defeat the closed minds of the ignorant until we put those prejudices to the test of a person to person encounter. To say that we hate black people when we have never met black people and we're only going on what we see on TV, we are basing our prejudices on what other people want us to believe.If we are going to defeat discrimination and bring about cultural pluralism we will need to put those thoughts in the minds of our children. Education and first-hand experience is the only way they were going to bring about pluralism in the United States. There are too many rural communities where prejudices still exist today based upon ideals from 50 years ago. In what ways do the media perpetuate stereotyping and prejudice? Provide examples to support your assertion.

Psycosocial Assessment of the Soloist

Running Head: Strengths Based Assessment 1 Strengths Based Assessment: The Soloist By Colleen Austin SOWK 587a University of Southern California Professor Brittani Morris Strengths Based Assessment2 Character Identification Describe the character you choose as your focus. Include race, ethnicity, age, religion, sex, marital status, living situation, educational level, internal strengths (coping mechanisms, skills, experience, ability to connect to others, resilience, determination, flexibility, commitment, loyalty, etc. ). Mr. Nathanial Anthony Ayers is a middle aged, black African-American man.He is spiritual but identifies with no specific religion, he does pray in the movie, saying the Our Father. He is unmarried, and is homeless. He displays signs of mental illness, most likely schizophrenic as evidenced by his paranoia and he hears voices. He began to hear voices in adolescence. At one point he thought his sister was trying to poison him, so he forced her to eat the food she bro ught to him. He lived in the basement of the home he grew up in. It wasn’t obvious, but he must have remained living with his sister after his mother died.When he went to Juilliard, he got an apartment and the voices became more prominent. There is no evidence that he was ever diagnosed with a mental illness. He has a difficult time maintain relationships with others because he is mentally ill and continually talks to himself. Nathanial has a high school education. He was also accepted and completed some classical music training from Juilliard, according to a teacher there, he just stopped showing up. What happened in his life from that point until the present is unknown. Although he is homeless, one of his possessions is a violin, which only has two strings.In doing this, Nathanial shows determination, because even though he doesn’t have a complete instrument he stills continues to play it. Strengths Based AssessmentPage 3 Nathanial shows loyalty to his music. He is a lways playing his violin and in fact talks about his loyalty to his music when he states that â€Å"he is holding on to his faith in the power of his music. † (The Soloist, 2009) Nathanial shows a lot of inner strengths. He has determination, which is evident by the fact that he continues to play the violin, although it only has two strings.He is resilient, evidenced by the fact that he has been homeless for many years, schizophrenic and yet he is surviving on the streets of L. A. Nathanial shows no flexibility. When Lopez brings him to the apartment, he says that he will play the violin there, but he will not stay there. It was not his apartment he said. II. Significant Relationships Describe 2-3 significant relationships this character has to other characters in the film, both in terms of role and in terms of the resources and/or challenges that this character offers to your focus character.Nathanial’s most significant relationship is with Steve Lopez, a reporter for the Los Angeles Times newspaper. Lopez is fascinated by Nathanial when he discovers that he is a classically trained musician, who is homeless and writes a column with Nathanial as his subject. It isn’t clear at first what Lopez’s motives are, other than to write a column that is entertaining and widely read by Los Angeles. Initially, it is obvious Lopez is using Nathanial as his focus. Lopez is divorced although he continues to have a relationship with his ex-wife who is also Strengths Based AssessmentPage 4 is boss at the Times. In fact his ex-wife tells him that there is possibly a book that could be written about Nathanial and essentially accuses him at one point in the movie of exploiting Nathanial. This relationship shifts over time. He is single and finds himself thinking about Nathanial’s â€Å"plight. † He becomes emotionally invested in Nathanial, in that he feels that he can help this homeless, mentally ill man toward a better life. What he do esn’t understand is that Nathanial is comfortable in his life. He has become accustomed to his homeless life.Lopez, although his latent motives appear to be altruistic, actually causes Nathanial a great deal of stress. He tries to convince the manager of the Lamp Community that he should force Nathanial to see a psychiatrist and be put on medication. David, the manager of the Lamp Community could be another of Nathanial’s significant relationships. He allowed Lopez to leave the cello that was donated by a reader at the facility, because that was the only place that Lopez would allow him to play it. He didn’t want him to have it on the street.David was instrumental in helping Lopez to finally learn what the best thing was that he could do for Nathanial. Lopez needed to be his friend, David told him. That was really what Nathanial needed. Someone he could trust. David was, in this sense, an advocate for Nathanial. He made Lopez understand that Nathanial didnâ€⠄¢t want to see a psychiatrist and even if he did, there were no guarantees that he would even take his medication. It is possible that Nathanial knew that on medication he would not be the same musician. Strengths Bases AssessmentPage 5Graham Clayton, the music teacher, was another character whose relationship to Nathanial was significant. He was teaching Nathanial to play music other than Beethoven, Nathanial’s favorite. In fact, there was a statue of Beethoven in a square and that was where Steve Lopez looked to find Nathanial. Not only did Clayton offer music lessons, but he also offered him spiritual guidance. He set up a recital for Nathanial, however when Nathanial showed up to play, he began to hear voices and when Clayton put his hand on his shoulder, Nathanial reacted with such fear that he nearly assaulted Clayton.Nathanial ran, which was one of his best coping mechanisms, that and playing music III. Community Analysis Describe the two most significant groups/commu nities that your focus character belongs to and/or aspires to belong to in the film. There is one significant community to which Nathanial belongs. And one community that it appears he would like to belong. The first community is the Lamp Community, a shelter for the homeless and often these homeless people are mentally ill. The other community is the music community. Nathanial wanted to be a classic cellist when he was younger.He was excited when Lopez brought him the cello and wanted to keep it with his grocery cart full of belongings. The Lamp Community offered Nathanial food, shelter and clothing. However, he spent most of his time sleeping on the streets, going to the facility only when he needed something. They did offer group sessions for the homeless, but it wasn’t clear what the topics of the group discussions were. The music community would have offered Nathanial the opportunity to advance his career as a musician, however because of the schizophrenia; the audience was a Strengths Bases AssessmentPage 6 barrier to Nathanial’s playing his cello.Lopez found an accomplished music teacher who was willing to teach Nathanial to bring him back to the level he was at when he was at Juilliard, and even brought him new music to play. Playing music and being part of the music community was something that Nathanial desired, however, his illness prevented him from becoming fully invested in pursuing it. I think the Lamp Community was a valuable community resource for Nathanial. It was a safe place for him to go, and in fact the night after the disastrous recital, Lopez found him there having a meal and David told him that he had spent the night in his apartment.When asked why he spent the night there, Nathanial alluded to the fact that he wasn’t a young man anymore and that his body couldn’t take the streets. I think that if Nathanial wanted to see a doctor and take medication, he could have gotten those resources from the Lamp Communi ty. The music community could have provided a less intimidating arena for a recital. Although it seemed to be a very relaxed outdoor atmosphere, putting Nathanial up on stage was asking for disaster. Perhaps the music community could showcase musicians like Nathanial in a much less intrusive setting.Analysis of the Symbiotic Relationship. (This wasn’t required but I wanted to add it. ) I think the relationship between Steve Lopez and Nathanial Ayers worked both ways. The scene where Lopez falls off his bike, goes to the hospital where everything is chaotic, then goes into an MRI and is claustrophobic has so many similarities to Ayers’ life it may have been purely coincidental. I think that was an experience that Lopez had to draw upon while he was trying to â€Å"help† Nathanial. Just like Steve Didn’t want the help at the hospital, neither did Nathanial want Strengths Bases AssessmentPage 7Steve’s help. The mere act of trying to get Nathanial out of his comfort zone was enough to trigger a schizophrenic episode. At the end of the movie, Steve realized that the best thing that he could offer Nathanial was his friendship. Nathanial trusted Steve by the end of the movie. When they first met, Nathanial wouldn’t shake Steve’s hand, but at the end of the movie when Steve offered him his hand, Nathanial took it. Strengths Based AssessmentPage 8 Resources Foster. G. , and Krasnoff, R. (Producer), & Wright, J. (Director). (2009). The Soloist  [Motion picture]. United States: Dreamworks Pictures.

The Orion Shield Project Essay Example | Topics and Well Written Essays - 1250 words

The Orion Shield Project - Essay Example This also shows how getting appointed for an unsuitable position can lead to disputes and confusions both for the employee and for the organization as a whole. From the ethical point of view Gary was correct on his part but if we consider the case from the business viewpoint then it can be said that on certain aspects Gary was wrong. The case focuses on a number of aspects of an organization and exhibits the outcomes providing the reader a food for thought towards finding out paths to better results. In the following sections we will discuss about the various aspects related to the case. Technical aspect Henry Larsen, the director of engineering at SEC appointed one of his most trusted employees, Gary Allison, as the project manager for the Orion Shield project. Soon Gary realized that the design prepared by their firm was unable to meet the technical specifications. He informed Larsen that the customers are looking for a design that would operate successfully and normally within -65 degree F to 145 degree F. He tried and tested several other approaches but failed. Then he suggested that the customers should be informed about this issue. ... He thought it would be unethical to conceal the fact from the customers which can possibly give rise to mistrust and dissatisfaction among the customers later on. But he was rebuked for this ethical thought. Larsen clearly told him that if he wished to move on with this project with an ethical viewpoint then he would have easily selected some ethical manager and not Gary. Since he needed someone who can tactfully handle such situations without getting ethically influenced therefore he chose Gary for this project and he wants Gary to act as per his instructions. Also Gary stated in the financial report about the progress of the project and the cost allocated. He represented all the facts truthfully. However his endeavor was totally discouraged by Elliot Grey who informed him that his truthfulness has caused a huge loss to the company as Grey had asked for $3, 00,000 additional amounts from the headquarters by some manipulation so that Gary could get rescued from the complex situation. Now this amount would be restricted to only $ 150,000. Legal aspect Gary got informed by Larsen that a new material JXB3 has proved to be suitable for satisfying all the specifications mentioned in the contract. This material had been tested for the past two weeks by Larsen and Paula and now they have come to the conclusion that it is the perfect one. Larsen also told that all these testing had been done with the money paid for the deal and it is against the contract to use the amount for some other purpose and the revelation of this fact might lead to cancellation of the contract. Also it was illegal on SEC’s part to develop a new material and introduce it within the

Higher Health Insurance Premiums This Year Blame ObamaCare Essay - 1

Higher Health Insurance Premiums This Year Blame ObamaCare - Essay Example This year, the average premium for a family hit $15,073 — $1,303, or 9%, higher than the year before. And that’s on top of increases of 5% in 2009 and 3% in 2010. Employees are picking up a substantial portion of that tab. They paid an average of $4,129 for their family insurance premiums this year — more than double what they shelled out 10 years ago. And that figure doesn’t include out-of-pocket health expenses.( Pipes, â€Å"Higher Health Insurance Premiums This Year? Blame Obamacare†) Her facts are easy to verify. Just talk to any family that recently paid up their health insurance premiums and you will get the same answer from them. I agree with her findings as well because my family just recently paid up their share of insurance premuims, which went up because their companies told them they had to shoulder more of the cost if they wanted shared coverage, and the total cost we paid means we are facing a very bleak Christmas this year. Mostly because they had to cover me under the â€Å"slacker mandate† of the law. Because of me, and other under 26 kids out there, parents are having to shell out an extra 3% on their premiums. ( Pipes, â€Å"Higher Health Insurance Premiums This Year? Blame Obamacare†) She presents solid and valid arguments as to why Obamacare must be repealed such as the cost of family healthcare jumping 9% higher than last year and the fact that American families barely have any disposable income left. $95 left over after paying bills ( Pipes, â€Å"Higher Health Insurance Premiums This Year? Blame Obamacare†) will not even cover a full day of expenses for an average family. The bottom line is that Obamacare is a failed policy and as Pipes puts it, must be repealed before it can cause any further irreparable damage to families and their already dwindled

International Business Essay Example | Topics and Well Written Essays - 3000 words - 15

International Business - Essay Example ompanies targeting either India or China for the expansion of their businesses at present because of the immense growth potentials in these countries. India and China are two countries which escaped from the current financial crisis without much damage. It is not easy for a company to set up business in an overseas country because of the various challenges they may face in the target country. Human resource management is one of the core functional areas the offshoring organizations should consider in their business strategies. This paper assumes that Microsoft, the American operating system/ computer software manufacturer is looking to establish a subsidiary unit of Microsoft in India. The various aspects of human resource management issues Microsoft may face in India is briefly explained in this paper. Microsoft is one of the best examples of a monopolistic firm of the current century. No challenge at all for Microsoft in most of the countries in which they operate. In fact other companies like Intel forced to make microprocessor chips compatible for the smooth operation of Microsoft’s Windows based operating systems. In other worlds, Microsoft’s monopoly forces even other companies to dance with the tunes composed by Microsoft. Even though nobody has any doubt about Microsoft’s abilities in controlling the software industry all over the world, there is no guarantee that it may become successful in every country if it overlooks the customized needs of each country. For example, India and China are two different countries compared to America and business concepts, organizational culture, behavior, and environment in these countries are entirely different from that of America. Microsoft needs to formulate customized business strategies for both of these countries, if they want to excel in these countries. India is a secular democratic country and the second largest country in the world as far as population is concerned. Moreover India is recognized as one

Working in Orgnistions Essay Example | Topics and Well Written Essays - 2250 words

Working in Orgnistions - Essay Example Bsing on the interviews tht I conducted previously nd literture tht I hve reserched, I evlute orgniztion nd suggest its design. Mny retil shopping centers hve tried nd filed to perform excellently outside their home mrkets. Likewise, some retilers hve led stry trying to develop Internet shopping. s result, TESCO, the United Kingdom's biggest grocer, hs drwn significint ttention becuse of its mbitious overses strtegy nd its successful on-line home delivery service. nother successful key fctor tht inputs to TESCO sustinble development nd growth is the mrketing communiction pln tht provides the detiled overview of the Compny's fiscl policies s for meeting the clients' needs nd providing competitive prices within wisely locted grocers ll over the world. TESCO understnds tht successful mrketing strtegy should be bsed on customers' need, tht is why the Mission Sttement declred for the Compny sounds s it follows: "One of our vlues is to understnd customers better thn nyone. We go to gret lengths to sk customers wht they think, listen to their views, nd then ct on them. We look both t wht customers sy nd wht they do . This feedbck guides the decisions we tle" (www.TESCO.com) Tesco is the lrgest food retiler in UK, operting round 2,318 stores worldwide. Tesco opertes round 1,878 stores throughout the UK, nd lso opertes stores in the rest of Europe nd si. Tesco.com is wholly-owned subsidiry offering complete online service, including tescodirect.com nd tesco.net. The compny lso offers rnge of both online nd offline personl finnce services. Tesco is hedqurtered in Hertfordshire, UK. For the yer ended October 2005 Tesco PLC chieved revenues tht totlled 33,557 million, n increse of 18.7% ginst the previous yer's revenues tht were 28,280 million. s well s convenience produce, mny stores hve gs sttions. Section 2: Methodology Informtion for this explortory study ws gthered by conducting semistructured interviews with route slespersons hving knowledge of wholesle theft methodology. These individuls were selected on the bsis of their willingness to shre pertinent informtion with the uthors with whom they or their contcts hd estblished trusting, personl contcts. It is virtully impossible to get rndomly-selected strngers to discuss such sensitive informtion. fter the purpose nd scope of this study were fully explined to ll respondents, ech ws ssured of nonymity, nd no ttempt ws mde to gther informtion from the respondents other thn theft methodology. Section 3: Data Data for this study are mainly based on the face-to-face interview coducted recently with Tesco employees. The interviews were open-ended to ensure proper understnding of the often complicted theft methods. There were eight interviewees. Ech hd t lest two yers experience s route slesperson, nd ech greed to prticipte nonymously without compenstion. Each interviewees was given to complete the questionnaire (Appendix B), that covered various questions on organizational structure and design. Questions

Series of questions Assignment Example | Topics and Well Written Essays - 750 words

Series of questions - Assignment Example Mucosa layer is a mucous membrane that gets a line in the gut all the way from the mouth towards the anus and contains numerous mucosal glands. It plays a significant role of secreting substances, absorption of digestion end products when they pass through it, as well as protection of the gut wall. It gets composed of three layers; the epithelium, the lamina, and the muscular mucosae. The epithelium layer gets located within the innermost section of the mucosa and made up of stratified squamous epithelium (Petrie, 2007). It has numerous goblet cells and endocrine cells. The goblet cells play the role of secreting mucus guards the gut wall from digestion, and, on the other hand, the endocrine hormone plays the role of secreting hormones into the human blood system. The lamina layer gets located outside the epithelium layer of mucosa and made up of individual tissues known as areolar connective tissue. It has some blood vessels and lymphatic vessels supplying nutrients to this wall and undertaking the absorption of the digestive end products. The muscular mucosae are the outermost layer of the mucosa and have smooth muscles, with the major role of conducting the local movements. The smooth muscles are numerous and, therefore, increase the surface area for absorption by mucosa. Submucosa layer gets loosened connective membrane layer, composed of numerous large blood vessels. It has various lymphatic and nerves with lots of glands that secret mucous. The areolar connective tissues in the submucosa layer get composed of nerve fibers. Submucosa layer plays the major role in giving support to the mucosa, together with joining the mucosa to the bulk of the smooth muscles. Muscularis Externa, also known as muscular propria, is a smooth muscular layer composed of two layers; the inner circular layer and the outer longitudinal layer. The two layers play a role of peristalsis to aid in the movement of food

Final on Evaluation of an Short Story Essay Example | Topics and Well Written Essays - 1000 words

Final on Evaluation of an Short Story - Essay Example Unfortunately, Tim O’Brien is unable to secure himself from the works of the Living God and his country. He sets up for the war field where he finds majority of those in the battle field with mixed emotional experiences such as love, hate and guilt. At the same time, they use tough language in an effort to reduce the impact of the war to the public and the knowledge of having been alive when their buddies have died as they continuously wonder what the war is meant for (O'Brien, 2009). Basically, the book revolves around the writer who is the main character and protagonist. His main role entails the experience he has towards bringing a sense of redemption after the tussle with his conscious on what to do. Similarly, the antagonist in the book happens to be himself, Tim O'Brien, especially when he fights back with the feelings of hatred, blame, and fear emanating from within. He is portrayed as a character who inwardly blames himself for having accepted the draft notice to go to war and having lived through the war even when many of his colleagues had died in the same war (O'Brien, 2009). In a general sense, the story reaches its peak when the main character (Tim O'Brien) is said to return to the war field where he finds out that his friend Kiowa has passed on but manages to find his daughter. It is here where he is seen to figuratively take down the anguish and anger that he is said to carry for a long time. Analysis It is apparent that, the story has been written by the main character with the main aim of expressing three themes that have vividly been utilized. These primary themes incorporate memory, imagination and the chance for mental escapement. For instance, the main character is seen to dwell on another character that is portrayed as a close friend through imaginations of been close to the character (Martha). Moreover, Tim O'Brien uses pretence as a form of telling the story. This story telling form is most prevalent to Tim O’Brien as he is seen to mostly tell stories to himself (O'Brien, 2009). Similarly, the main character who happens to be the author of this book has continuously used artifacts to put more emphasis on the actions of his character and that of the other characters. For instance, Martha, a character portrayed as Tim O’Brien close friend and lover has letters and photograph which are carried around by the author as a sign of love for her. Apart from the description that is given through the use of physical artifacts, the author uses the main characters. In essence, the description given in term of what the main characters are carrying, is meant to give more details on the foreshadow necessary in understanding what the novel is all about. In fact, the technique emphases on the full composite of the story’s characters where the audience seem to view them as real people (O'Brien, 2009). Of importance to note is that the author has been able to connect with the audience in a unique way by mak ing sure that some of the physical and emotional processes in the book are easily captured by the audience. For instance, the weight of a weapon, the weight of a grenade among other descriptions. In this regard, the unfolding of this story of Vietnam war introduce the characters one by one as their roles as portrayed according to their entry. Judgement The Things That They

Honeywell International Success Essay Example for Free

Honeywell International Success Essay This paper introduces the reader to Honeywell International Inc. Honeywell is a world leader in the application of lean manufacturing and its Six Sigma Plus processes. With the use of carefully monitored cost standards, net present value in investment decisions, and the transparency of the company’s financial statements are all methods that Honeywell has successfully implemented and utilized to reach and maintain their status as a world-wide competitor. The company has continued its growth, despite the market downturn that began in 2007, and continues to prove its resilience and pioneering spirit by continually improving their product lines, globally expanding their market, and, monitoring and maintaining financial stability. Its forward thinking and willingness to take risk will provide Honeywell the capacity to maintain its role as a major competitor and contributor to the growth and recovery of our economy. Table of Contents Page Abstract2 Company Overview4 Six Sigma and Lean Manufacturing8 The Use of Standard Costs11 The Use of Net Present Value14 Summary15 References18 Honeywell International Inc. is an American based advanced-technology company that manufactures aerospace and automotive products; residential, commercial, and industrial control systems; specialty chemicals and plastics; and engineered materials. Its assent into history can be traced back to 1885, spanning 125 years of history. Honeywell International is a $38 billion diversified technology and manufacturing leader, with 132,000 employees in over 100 countries and it a Fortune 75 Company. It is a diverse and global-wide organization and is a leading supplier of avionics and electronics, consumable hardware, engine controls, environmental controls, landing systems, power systems, propulsion engines, aerospace services and space products, and systems for the aerospace industry, as well as Original Equipment Manufacturers (OEMs) of commercial, regional, business and military aircraft and spacecraft. Today, its main competitors in the aerospace defense product and service industry are BorgWarner Inc. , Johnson Controls Inc. and United Technologies Corp. State-of-the-art technology, world known brands and global solutions have placed Honeywell in the unique position as one of the premier worldwide suppliers in the aerospace industry, offering solutions of systems, products and services to the largest aerospace and airline companies in the industry. Throughout their 125 years in business, Honeywell has helped revolutionize the aerospace industry with its dedication to research and development and its enthusiasm to advance technology in their various markets. Honeywells reliable and efficient aerospace services and support programs deliver the right level of engineering expertise, maintenance services and asset availability solutions to simplify operations while keeping systems and equipment at peak operational performance. It has proven to be successful in its quest for growth and global expansion from the time of inception. Their quest to acquire and expand began in 1927; the original company, Minneapolis Heat Regulator Company, and Honeywell Heating Specialty Co. merged to form the Minneapolis-Honeywell Regulator Co. From the merger, the name Honeywell was adopted and has remained the same since. In the course of its acquisitions, Honeywell purchased other businesses whose focus was in the controls area; among those acquisitions, was Brown Instrument Co. who was a wide-reaching leader in the field of industrial controls and indicators. This acquisition further increased their already successful market to a wider range of customers, as Minneapolis-Honeywell Regulator Co. had already established an overseas trading agreement with Japanese distributors such as Yamatake Trading Company. It was no surprise that, in 1934, Honeywell pursued and eventually acquired Time-O-Stat Controls Corporation. With the acquisition of Time-O-Stat, Honeywell further expanded its global presence, establishing offices in Toronto, Canada and The Netherlands; a few years later, they had offices in London and Stockholm. By 1941, Honeywell had expanded into markets in Chile, Panama, Trinidad, New Zealand, Argentina, and South Africa. By 1972, it operated 25 wholly-owned subsidiaries, 142 branch offices, and joint ventures in five countries outside the U. S. True to its reputation as a risk taker, Honeywell ventured into the computer industry. This venture was brief and by 1991 Honeywell was on longer in the computer business. Even though the venture was short lived, it proved to be of great value; Honeywell used the knowledge gained from their digital computer experience and applied it to the traditional field of automation control, integrating sensors, and activators. In 1986, Honeywell purchased Sperry Aerospace, and markedly enhanced its position in the aerospace industry. Edson Spencer, Honeywell chairman and chief executive officer, said the purchase was among the most important his company had made, It is an outstanding opportunity for Honeywell that positions us for the long term in a market that is expected to have significant growth for the next 10 years commercial and military aviation (Arnold, 2012). This purchase made Honeywell the worlds leading integrator of avionics systems, incorporation flight controls, space vehicles, and the first FAA-certified wind shear warning system. It continued to expand, and by 1993, the company continued its world-wide expansion by opening affiliates in Abu Dhabi, China, Oman, Romania, and the Ukraine. In a span of 26 years, Honeywell had operations in 95 countries through 83 wholly-owned subsidiaries and 13 joint ventures. One of the most noted and discussed mergers occurred in 1999 when AlliedSignal, a diverse manufacturer, bought Honeywell for $13. 8 billion in stock. AlliedSignal kept the Honeywell name, merging offices, and closed its Morristown, New Jersey headquarters. The merger resulted in a major restructuring for Honeywell which added to its product line and services. The deal created a company with $25 billion in annual sales and a market capitalization in excess of $45 billion. The merger gave the combined company the marketing edge, providing their airline customers to take advantage of new technology that would boost cost savings for both parties. In an unexpected turn, the early part of 2001 brought difficulties for Honeywell when the European Commission rejected the purchase of Honeywell by General Electric (GE). In October 2001, Honeywell and GE, the largest corporation in the world and the number one producer of jet engines, announced the intent to embark on one of the largest industrial mergers in history. The plan was for GE to acquire Honeywell, the largest worldwide supplier of non-engine aerospace equipment. During negotiations it was anticipated that there would be no antitrust problem; as GE and Honeywell were not competitors and not part of the same supply chain. The merger was intended to bring together complementary products that were component parts of large jet aircraft. The deal would have been the largest industrial merger in history. Instead, it became recognized as the first, and so far only, merger between US companies to be derailed solely by the European anti-trust authorities, while being cleared by the US Department of Justice (DoJ). On July 3, 2001, in an unprecedented act, the EU officially rejected the planned $42 billion acquisition of Honeywell International Inc. , by GE. The merger was denied by the EU after concluding that the merger would create or strengthen dominant positions on several markets and that the remedies proposed by G.E. were insufficient to resolve the competition concerns resulting from the proposed acquisition of Honeywell. The merger between G. E. and Honeywell, as it was notified, would have severely reduced competition in the aerospace industry and resulted ultimately in higher prices for customers, particularly airlines† (Pellegrini, 2001). Despite the fact that the GE buyout failure was a stumbling block, Honeywell used the experience to strengthen its core businesses by continuing to develop and introduce new products. The company started an aggressive acquisition strategy with the goal to increase revenues and decrease cost in a strategy that, â€Å"†¦divested small, underperforming operations, reduced the number of suppliers, and streamlined operations in small ways elsewhere† Honeywell History, n. a. ) The results paid off for Honeywell, as they continued to win a large percentage of their contract bids, sales were ahead of budget, and the rate of turnover in managers did not significantly increase from the same period in the prior year, and customer satisfaction was up. Honeywell faced some challenges after the GE debacle, however, by making changes it displayed that tenacity, hard work and a willingness to take risk, can result in huge payoffs. Honeywell continued to streamline and improve their lean manufacturing processes, i. e. Six Sigma Plus, implement and ensure compliance of the company code of conduct and maintain its dominance as a government contractor. Honeywell began its Six Sigma process and concept of self-managed teams in 1995 to â€Å"drive data-based decision making, ensure quality levels, and improve customer satisfaction† (Crager, 2007). Through training, leadership, and senior management support, Honeywell successfully developed their Six Sigma program. In late 2001 Honeywell combined the concepts of lean manufacturing and Six Sigma in a program called Six Sigma Plus to create a more robust program. The program was designed to align improvement objectives directly with business needs by integrating top talent and generating bottom-line results. Six Sigma Plus is an overall strategy to accelerate improvements in all processes, products and services, and reduce the punitive cost of poor quality through elimination of waste and reduction of defects and variations. One of the ultimate aims documented in the Six Sigma Plus strategy is providing maximum value to customers by applying a logical and structured approach to all business processes. One of the pluses of Six Sigma is that it empowered employees, allowing them to make decisions that impacted how their unit or line was performing. This provided Honeywell an excellent tool that is a highly respected measure of excellence. (M. Calderon, personal communication, May 1, 2012) Honeywell took the basic concept of Six Sigma and created its own version which is known as Six Sigma Plus. It is currently used across all businesses and brands to drive growth and productivity. â€Å"The standard operates by providing a measurement of how effective the organization is in eliminating defects and variations from processes. To meet its requirements, a process must operate at 3. 4 defects or less per million opportunities. This equates to 99. 9997% error free† (Six Sigma Plus, n. d. ). Conscious application of the Six Sigma methodology to all business processes delivers greater value to its customers and makes Honeywell a more desirable business partner. The implementation of lean manufacturing processes has enabled Honeywell to maintain tight controls in all aspects of the managerial accounting processes. With the use of managerial accounting, Honeywell has ensured that their productions and service is well planned and controlled. With the budget cuts facing government, private sector job loss, and tightened markets, it is impressive that Honeywell has continued to maintain its sales growth in the United States. The diversity of Honeywell’s world-wide enterprise, exemplifies the importance of a creative corporate marketing approach. Honeywell consists of unique business units, with each, offering a variety of products and services. Strategies and implementation of those strategies must be developed and executed at the corporate, business unit, and product levels. Overall, strategy and long-term planning are guided by the company’s vision and stated mission. At the business level, planning begins with an examination of the current situation, including technological changes and competitive effects. By using this type of analysis, Honeywell is better equipped to address and identify threats and new business opportunities. Decisions to pursue new opportunities are followed by establishing a set of objectives, often stated in terms of market share, sales volume, or profitability. Subsequently, business and marketing strategies are developed to achieve those objectives. Effective execution of strategy in implementation must then occur for objectives to be realized. Effective financial statement analysis will be a primary indicator that indicates the progress and demonstrates whether company goals are being met. Honeywell has been a leader in their industry in planning and control and have used financial analysis in depth to evaluate and control their growth and profitability. It continues to be effective in identifying opportunities to improve the organization’s efficiency and in developing strategic plans to realize those opportunities. By using a diversity of analytical tools Honeywell is better prepared in making operating decisions, such as how and where products are to be manufactured and serviced, whether insourcing or outsourcing is more equitable, and whether to expand and the area to expand to. Timely and accurate financial statement preparation is critical to the success or failure of a business. The financial officer, owner, partner or members management team of a business must review the business financial statements and have a good understanding of them. Financial statements are critical to Honeywell’s ability to make solid, informed decisions. Such decisions are needed in order for Honeywell to meet one of its primary goals, which is to realize a high rate of return on their investments. The measurement and success of this initiative is arrived at by measuring it against other industry averages. This information helps Honeywell understand that current initiatives do show a market response. In view of the fact that the industry average can be general in nature the industry average should be used as a guide. A failure to use the data appropriately can mislead investors and have a disastrous affect on Honeywell’s reputation and marketability. Achieving their strategic plan will not only involve Honeywell’s internal planning and controlling, but it will also involve the support of creditors and investors. Both are key players in providing capital needs to support new initiatives and milestones; the use of financial statements in this process will no doubt be the backbone of the decision making process. It is difficult to know the health and direction of a company if financial statements are not reviewed in a timely manner. In its pursuit of investors, or the success in the results of an external audit, the financial statements are the ultimate representation of company’s financial position. In general accounting practices, Honeywell uses process costing for its furnace thermostats (home products division) and job costing for customized aerospace contracting products. When thinking in terms of standard costs and whether they would be beneficial, one factor to consider is the fact that Honeywell is a world-wide producer with operations in many countries outside of the United States (US). There are ramifications when doing business overseas as well as doing business in the US and each scenario has its own benefits and consequences that are unique to specified circumstances. Honeywell, like their competitors has migrated to low cost countries because of the labor rate differential. The move to overseas production creates additional concerns and dynamics. World-class manufacturing in today’s competitive environment demands more than a single-minded focus on eliminating defects. Since the introduction of Six Sigma and Lean tools to their operations over a decade ago, Honeywell has delivered significant results for customers in terms of the quality, delivery and value of our products and services. To achieve competitive advantage in today’s environment, Honeywell has continued to build on its Six Sigma and Lean foundation, and identify new ways to differentiate themselves. Benchmark companies such as Toyota and Nissan use Six Sigma and Lean tools. Like Honeywell, they also have a disciplined management system that standardizes work and engage employees in improving work processes. In doing this, organizations have achieved tremendous performance improvements. The Honeywell Operating System is a comprehensive, integrated approach to managing their organization. It is characterized by a consistent focus on results for the benefit of our customers, not on the use of specific tools. The objective is to simplify and standardize processes everywhere, to remove variation across operations, and to drive significant and sustainable improvements in safety, quality, delivery and cost. Employees are encouraged use tools such as Six Sigma, in achieving a common purpose: global wide use of an operating system that consistently yields excellent results for the customers and the company. Implementing standardized cost standards is not an easy task and it will take time. Honeywell maintains that standardization will evolve to fit different business environments and changing customer needs and will become an essential part of the process that will bind their company across business and geographic boundaries. Honeywell’s workforce consists of residents of the country they are in to satisfy requirements imposed by foreign nations. It is almost mandatory to have overseas operations to reduce labor and material costs; however, these operations come with high risk. Foreign workers are not always equipped with the necessary skills to perform the manufacturing duties required by a highly technical company. The expense of employing and developing such a workforce can create additional costs. In determining what the additional costs, standard costs prove beneficial because they would provide Honeywell the ability to budget costs with a great understanding and degree of confidence. A standard cost system allows a company to factor in methods that would absorb the periods in which higher costs are identified due to foreign employment development and when costs are low or minimal due to workforce stabilization. In its foreign production, Honeywell will have to set attainable standards in order maintain its performing baseline. Another factor in foreign operations is the volatile condition of the world. The United States is not always welcomed in other countries. It is not uncommon for a common protest to turn into a major world crisis. Such examples are those of the uprisings in Israel and Libya. Honeywell hosts operations in Israel, where relations between the government and the general population are volatile and unpredictable. In addition, we have seen several instances where regimes have changed power and attitudes toward the US in a matter of days. Standard costing is paramount as an aide for monitoring and managing the risk of unpredictability. It is a healthy practice that can protect Honeywell from severe monetary damage if a foreign tragedy should affect the business. The information obtained from standard costing aides Honeywell against the volatility of today’s markets and the strategy of its competitors. Honeywell is continuously improving its processes, products and management style to maintain their competitive edge. To be competitive, Honeywell will continue to use their standard cost system to help them execute planning and control of their strategic priorities. Tracking costs will also help Honeywell identify weakness and variances in their production system. Undetected problems in the areas of materials and labor can eventually raise variance to a point of hindering Honeywell from maintaining their core competencies. Consequently, today’s market provides no room for error, but every opportunity for a competitor to gain the lead. In many respects, some of the rationale that goes into using standard costs also applies to formulating the right strategy to gain a positive Net Present Value. Honeywell’s reach is global and therefore its investment opportunities are also global. Due to the unique factors involved with global markets, it is necessary for Honeywell to perform critical planning for investment decisions. Honeywell has a reputation as an organization that is willing to take risks to make money. It has done that by acquiring other business or expanding its existing facilities for future business. Such expansions are expensive and these expansions require additional staff which adds to the cost of investment. Large expenditures are a challenge to control the net present value (NPV) and require clear identification of cost and risks in order to be a success. Strategic moves, such as partnering with the national government, can leverage the way to a positive NPV. In this approach, there are tradeoff between the corporation and the government in which both interests can be mutually met. Corporation’s like Honeywell utilize these paths in order to reduce investment costs and have accurate projections for calculating and incorporating NPV baselines. Because of the ongoing activity of many investments occurring at one time, it is critical that Honeywell has complete knowledge of their NPV and ensure profitable investments are achieved. Failing to do this can result in major losses, especially when an unplanned shortfall occurs. Although the investment sounds promising, it is critical that NPV is properly measured. It is also advisable from an NPV and program management position that Honeywell phase its investment into NPV milestones which help determine if they should move forward to the next phase of the investment. This process would provide a safeguard while allowing the innovation to prove itself. While the actual rate of return (IRR) that  a given project ends up generating will often differ from its estimated IRR rate, a project with a substantially higher IRR value than other available options would still provide a much better chance of strong growth. IRRs can also be compared against prevailing rates of return in the securities market. If a firm cant find any projects with IRRs greater than the returns that can be generated in the financial markets, it may simply choose to invest its retained earnings into the market. The need for Honeywell to practice continuous NPV drills in a market with circumstances such as those faced in China by US companies, is critical. While both countries maintain a civil business partnership, there is an unspoken adversarial relationship which creates instability. China is strategically positioning itself as a global power therefore, the relationship between both countries is precarious and any misstep by Honeywell could severely damage the existing business relationship. Another potential concern for Honeywell is that China is currently the largest lender to the US. At the point that China reaches the economic capacity to sustain its prosperity internally, we have to ask ourselves if they will request repayment by the US prior to maturity dates. As we have seen in several European countries, a request of that magnitude could destabilize an already fragile US economy. In consideration of this scenario, and other contributing factors, Honeywell should be careful in investment planning, and phase its activities so that the NPV is not contingent upon results that will take a long period to realize a return. In summary, Honeywell has proven itself as a world leader of technology. This corporation is known world-wide and is a household name. Honeywell leads the way in advanced switching and sensing technology in their home division, and its aerospace division. In spite of the GE failure, it has kept its mark on the global economy through market highs and lows and has maintained its dominant position in an extremely competitive industry. As a long-time survivor and global competitor on the world stage, Honeywell continues to make its mark in history by developing innovative safety products, driving the modernization of global air traffic management, revolutionizing combat technology and their commitment to improving operational efficiencies. Honeywell continues to display their dominance with its diversity and profitable risk taking ventures. Perhaps Honeywell’s greatest strength has been the fact that it has adapted to a world that is ever changing and has embraced the challenge that other companies find daunting. With the continued vision to improve processes for safety, quality and cost, reducing waste, and using integrated strategies Honeywell continues to be a standard for their industry. They continue to be innovative and competitive and have a strong commitment to bringing profitable products that their customers need and want. Due to the diversity and competitive market that Honeywell has chosen to operate in, it is of extreme importance that the company maintains sound financial practices that will support the moral fiber and marketability of the company. As Honeywell moves into the future I believe they will continue to perfect their processes to produce the right financial statements, useful in calculating their position in the market, and providing the best advice for investment decisions. The proper use of standard costs and net present value are an example of the critical tools that ensure Honeywell continues to thrive in today’s unknown global conditions. Also critical to the success of Honeywell is the continued utilization of strong and proper ethical practices as the company is well known, world-wide competitor and a representative of the American business ethics and values. Whether it is in the Middle Eastern or the Far East, Honeywell is known and recognized; such a position makes it important for Honeywell to be transparent in its fiscal disclosures. Sound financial practices are essential to Honeywell in order for the company to continue its success and market dominance. Primary emphasis on these practices will serve to maintain Honeywells status and help them make the most profitable investment decisions for their investors and the company. As recent as April 23, 2012, Honeywell declared a â€Å"regular quarterly dividend of $0. 3725 per share on the companys outstanding common stock. The dividend is payable on June 8, 2012 to shareowners of record at the close of business on May 18, 2012† (Honeywell Declares Quarterly Dividend, 2012). If this is any indication, Honeywell will continue to be a viable global competitor and financial contributor to our financial and job market. Honeywell is an excellent example of an organization that is forward thinking and proactive. It has operated with a strong ethical code of conduct, strong financial discipline and an ever present focus on the future. This methodology and ideology will ensure their continued financial growth and market expansion. It is apparent that their cost standards, lean processes, and disciplined managerial financial management has enabled them to overcome obstacles, secure their position as a global competitor and a viable contender in today’s competitive, technology-oriented world.

Public School And Home School Education System: Malaysia

Public School And Home School Education System: Malaysia Education is important without any doubt. Education system in Malaysia can be separate into normal public school and home school system. In 1957, the Razak Report indicated that Malay language is the main medium of instruction . (Kusuma et al. 2001, pg 6) The English and Chinese school which accepted the government offer will become normal public school. (Kusuma et al. 2001, pg 5)In nineteenth century, there were only average families have the chance to home school. (A short history of home education ,2005)The term of public school is they do not need to pay for the tuition fee. (Definition of a school-content, 2010) Educate children instead of school is the definition of home school.(Ross, M 2008)The syllabus used in normal public school is KBRSM ,while the syllabus used in home school is IGSE O-level and A-level.(Kusuma et al. 2001,pg 17; Tan,BC 2011)Nowadays, home schooling become more well known ,the debate about home school better or normal school better is being discussed vigor ously .Different education system may produced different characteristic of students. Therefore, the aim of this investigation is to evaluate the normal public school system and home school system. Normal public school is producing better students than home school The advantages of normal public school One of the main advantages of normal public is the student is able to live in community. Public school provide large amount of opportunity to students, from a great deal of group project to team sports. (Advantages of Public schools, n.d.) According to the majority of survey respondents, public school students are typically capable to live in community. There are ninety two percent of respondent indicated that students in normal public school are able to live in community, as shown in figure 1. (Personal survey 2011) Figure 1 Other advantages are normal public school students gain a diverse social education. (Kusuma et al. 2001,pg 38) Normal public school provide variety of students that comes from different socioeconomic classes and background. Normal public school students has the chances to meet it and solving different point of view and understand people with various backgrounds and values. (Education Bug n.d.) In addition, there are wider extracurricular provided by the normal public school. Normal public school frequently offer a series of sports to a range of clubs and other opportunity. Normal public school mostly have the facilities such as swimming pool or purchase equipment ,such as laboratory equipment. Therefore, more curriculum are available in normal public school. (Education Bug n.d.) Moreover, student in normal public school is guarantee to have a teacher with teaching certificate. Public schoolà ¢Ã¢â€š ¬Ã¢â€ž ¢s teacher is required to have a bachelorà ¢Ã¢â€š ¬Ã¢â€ž ¢s degree and must pass in the Malaysian qualifications agencyà ¢Ã¢â€š ¬Ã¢â€ž ¢s exam (MQA). (Kusuma et al. 2001,pg 67) The disadvantages of home school The drawback of home school is the additional financial burden. The textbooks are usually expensive, the parents need to pay a premium price for it.(Pros and Cons of Homeschooling, 2008) Besides that, the curriculum needed is costly .The parents are require to spent on field trips, computer software, and materials for project. (Disadvantages of Home Schooling, 2002) Another disadvantage of home school is the teachers or parents are not qualified to teach all the subject. The teachers or parents may not have a degree in education. Moreover, parents are oblige to dedicate and tolerant to their child. (Negative effects of homeschooling, 2008) Furthermore, home school students will have the problem in social interaction. Home school students are less chances to interact and socialize. (Pros and Cons of Homeschooling, 2008)Home school students are at a disadvantage, because they do not have the opportunities to have relationship with their peers. (Disadvantages of Home Schooling, 2002) Responses from the survey indicate that sixty four percent of respondent are agree that home school will produced the student which is poor in social development,as shown in figure 2. (Personal survey 2011) Figure 2 Home school students 4.0 Conclusion Based on this data, one could say that the normal public school system is producing better students compared to home school system. Students in normal public school is learning within a group setting, it give a stage to the students to have the diverse social interaction. Moreover, normal public school is provided varies of curricular activities for the student. However, normal public school could not provide one to one attention to all the students. They could not learn within their own level. Nevertheless, this is provided by home school system. Home school students is lack of social interaction and some parents may not qualified to teach the subject. This is the drawback of home school system. Therefore, normal public school system is still a better education system for producing a better students if the government could reduce the number of student in a class. Abstract This investigation is discussed whether normal public school system or home school system is producing a better students. A variety of primary and secondary research were used including a survey, an internet source, book source to provide the evidence to support the conclusions. The major of findings indicate that the public school system is producing a better student. The public school students are able to learn within a group setting, and has diverse social interaction with peers. Moreover, there are varies of curricular activities provided in public school. The disadvantages of home school are usually more expensive and the parents may not qualified to teach the subject. It is also harder to provide social interaction. The benefit of home school is small to teacher ratio and the students able to learn within their level. While the drawback of public school is high student to teacher ratio and scheduled learning. Quality of a student will be affected by the education system. A good education system will produce a better student. The report concludes that it is important for everyone to know the definition of home school and public school, the pros and cons of public school and home school.

Mcdonalds rewards

Mcdonalds rewards The Reward System I have read the reward system of McDonald and personally we are very impressed and committed with this so that’s why we are gating that idea from McDonald reward system. A Global food services retailer knows as McDonalds is the leading global foodservice retailer. Details about its operations: Founder : Ray Kroc Number of Restaurants : 31,000 Approx Number of People Serve : 58 Million Approx (118 countries) 75% of McDonalds restaurants worldwide are owned and operated by independent local men and women. Some famous dishes of McDonalds World Famous Fries, Big Mac, Quarter Pounder, Chicken McNuggets and Egg McDuffie. The well-built foundation that he built continues today with McDonalds idea and the commitment of our talented managers to keep the shine on McDonalds Arches for years to come. http://www.aboutmcdonalds.com/mcd/our_company.html Reward system of McDonald For McDonalds Corporation U.S. employees at corporate, division and region offices, our many benefits are organized into four categories: Security and Health Security, health and insurance remuneration Medical Vision supplement plan Dental stretchy spending accounts Short and long term disability Employee and dependent life insurance Accidental death dismemberment (ADD) Travel and business travel accident insurance Salaries and Rewards Remuneration, compensation, reward and recognition programs Basic pay motivation pay Company car program Recognition programs Future incentives Reserves, investment and financial management programs Profit Sharing and Savings Plan MCDirect Shares Mc$ave Credit union Financial planning services Others benefits Job/life remuneration leave Holidays Anniversary splatter Sabbatical program Summer Hours Leave of absence substitute Work Approach taking up assistance Kids concession Educational support identical gifts program worker Resource relationship Auto and home insurance group concession program International Fitness Club Network afar Work Internet discount program http://www.aboutmcdonalds.com/mcd/careers/employee_benefits.html Now we can discuse in detail the reward system The Reward System Statement and knowledge are significant components of the change procedure. However even if the change message is well communicated and well conservative, and people are given the chance to study so they can act if you see in the quite new atmospheric no one can go to alter their performance. If they see theyre not leaving to revolutionize. What do you thing the reward system is important? If the company fail to give the reward to employees you can see that effect will go to company profit because of this company will go downward. So the reward system will be play main role in it. If you give the benefits to your employee you see every employ will try to improve work for the organization. People only work for the rewards. Reward system is very attractive thing for employees of the organization, reward system increase and enhance their working capacity and commitment. For some people the reward may be mostly monetary. Similar like this any company or any Originations rewarding system always brought positive crash. Rewards Rewards are grand arent they? But keep in mind, so when the reward goes to employ the employ will use that benefits of the organization and with the help of this they also maintain the life and enjoy every moment of life. Now you want them to work in a different way. and to behave differently And dont remember, they are thoughts if Ive got to labor to get unique skills, whats in it for me? Hows it going away to work if Im doing an enormous job, but the other team members arent why should I lose out because the others arent performing? And how am I going to move ahead if there are smaller number levels in the association? What sort of prize determination I get? Is it worth the attempt to change? So previous to plummeting ahead with a alter project, you need to reply a few question concerning the current and prospect reward system. Primary, regarding What are the current rewards? What is at present rewarded? How do you provide the reward? And then about the future organization What do you want satisfied? What are the rewards leaving to be? Whats the score system going to be? Whos going to be doing the scoring? How will rewards be given? Who is leaving to be satisfied? Who will do the rewarding? CEOs, heads, directors, managers, supervisors, and simultaneous Engineering team members all need to be informed of the answer to his question upfront. And make it unadorned frank to the people who do the rewarding that if they dont give a reward that is due, they will be in deep problem because it will give the feeling that youre not grave about change. And once people start thinking that youre not serious concerning change, and start to hesitation your honesty, and then no one is leaving to alter their activities. The not on time moderator Tuttle said, the expert mans only asset is himself. If he does not contain the quality of honesty he is valueless. If he does he is invaluable. Good alter managers must have the excellence of integrity, and are invaluable. http://www.aboutmcdonalds.com/mcd/careers/employee_benefits.html Do YOU AGREE WITH PROFERMCE LINKED AWARD SYSTEM? I would like to share copied the meaning of Reward system along with that what is reward? Why we should be decided with satisfying scheme within our association. Plunder are great arent they? But keep in mind, after the hard work when the company give the attractive pay and other things for this hard work with the help of this the company goes up for these benefit in the shape of reward employee enjoy the life and that enjoyment makes his mind to more hard work for the company and for more to get the reward and make the life good and the employee desire them to work in a different way and good treat. Then you want prize them in a different way. Primary,ok and that benefit into the shape of reward change the employee’ you can get the prospect. Youll want to reward them for changing getting the right skill and behave the right way. Youll want to prize them for going a bit additional than average and doing things really right. Performance management includes processes that effectively communicate company aligned goals, evaluate employee performance and reward them fairly. Your Pay and Rewards (ref from McDonald’s reward system) Attractive program follows a pay for appearance beliefs: The better your results, the greater your pay opportunities. Base Pay Since employees bottom pay is the most important portion of their recompense, McDonalds maintain the competitiveness of our base pay through an annual review of both external market data and interior peer data. In our business, division and region offices, McDonalds has a broad banding compensation system. Broad banding allows for suppleness in terms of pay, movement and growth. Incentive Pay Inducement pay gives our workers with the possibility to earn spirited total compensation when performance meets and exceed goals. For our corporate, parting and region office, the Target Incentive Plan (TIP) links employee presentation with the presentation of the business they hold up. TIP pays a gratuity on top of employees base salaries base on business presentation and their person appearance. Long Term Incentives Long term incentives are granted to entitled workers to both prize and retain key employees who have shown continued presentation and can crash long-term value creation at McDonalds. for the befits of employees the long term incentives are very helpful because when the organization has a policies of incentives or long term incentives then the employees of the organization feel secured and work hardly for the organization. Similar like this any company or any Originations rewarding system always brought positive crash. Recognition Programs Our recognition programs are intended to reward and recognize physically powerful performers. For our corporate, separation and region offices, these take in the president Award (given to the top 1% of individual performers worldwide) and the Circle of fineness Award (given to top teams worldwide to be familiar with their aid for advancing our vision). Once start to hesitation your honesty, and then no one is leaving to alter their activities Appraisal system is also very helpful and makes a positive competition and encouragement in between the employees of the organization. Promotions will be appraisal based which encourage employees for hard work. Company Car Program Our company car program provides entitled employees with a company car for both business and individual / personal use. If entitled, employees can decide from. This is also very encouraging and motivating incentive for employees. It creates competition between employees and they work hard to get this incentive. I had explained earlier above in easy words which are also explaining the definition of rewarding system within Organization. I am really agreed by satisfying system in any system which is very much helpful for the worker of company or Organization’s person who is been rewired in past work more harder for future to get better achievement in his life’s would like add one simple example of satisfying system why we should be agreed because if we deliberate hard then institution of higher education Reward us with Degree which greet the internal feelings of any person. Similar like this any company or any Originations rewarding system always brought positive crash. Rewarding system is basically encouragement for employees and appreciation for their hard work. Rewarding system is very beneficial for the organization too. Rewarding system always longed-for either it is for client reward to make them content for keep coming back to you or reward for urn worker for the best services. Rewards for clients or employees is very attractive and worth full. Organization will get many benefits from awarding system. The primary emphasis: In the approach discussed above is on as long as monetary plunder to be familiar with teams and cooperation. A recent study shows the feasibility of using non-financial rewards for this purpose. The study (Shaw Schneider, 1995) focussed on recital and reward management practices in large organizations using full-time teams of excused employees. Its results point to that only one-fourth of the organization surveyed used financial rewards to be familiar with teams; the rest used a wide variety of non-financial rewards including public recognition of high performing teams. Many organizations reward employees who are effectual team contributor through highly valued job and team assignments. Teamwork itself can provide intrinsic rewards through swelling and enrichment of work. Being a member of a well-known, highly prestigious team may be perceived as an even more intrinsically pleasing reward. Much organization gives targets to their employees. When they achieve their target, organizati ons reward them. Devising reward systems: A figure of design issue should be kept in mind while devise prize systems to be familiar with team success and human being team members aid to this achievement. To begin with, it is very important to set team objectives which spell out evidently what is usual from the team. These objectives can then be used to decide team level prize. Sometimes, teams are encouraged to compete against each other for a team level prize. This practice can hamper cooperation, information-sharing, and coordination across teams. Inter-dependencies among teams should be considered before implementing such competitive rewards. The next main issue relates to the distribution of team level reward among individual team members. Reward could be dispersed equally or differentially. Equal distribution can endorse cooperation among team members. But, it can also. DESIGNING A REWARD PROGRAM The keys to just beginning a reward show is as follows: Credit of corporation or group goal that the reward program will support Identification of the desired employee performance or behaviours that will strengthen the companys goals strength of mind of key measurements of the performance or behaviour, base on the person or groups preceding achievement Determination of suitable rewards Communication of program to employees. This system is depends on Employees performance and behaviour, if there performance and behaviour is positive then they will get more benefits from the organization. On the other hand, if they their performance and behaviour is not good then there is not reward for them, this will be encourage them for hard work and positive and good behaviour. DIFFERENTIATING REWARDS FROM MERIT PAY AND THE PERFORMANCE APPRAISAL In scheming a reward program, a little business landlord needs to divide the salary or value pay system from the reward system. monetary rewards, especially those given on a regular basis such as bonuses, gain sharing, etc., should be tied to an employees or a groups activities and should be careful pay at risk in order to coldness them from salary. By doing consequently, a manager can avoid a sense of entitlement on the part of the employee and ensure that the reward] highlight fineness or achievement rather than basic competency. Performance appraisal is based on the performance and behaviour of the employees, this is very beneficial for the company to make a good competition between the employees, if company give those benefits on the basis of their performance and behaviour / attitude and hard work, and this will encourage and attract the other one who is not performing well. Conclusions It is very much clear that current prize systems require changes to fit with the rising organizational realities. Skill-based pay, broadband pay structures, variable pay, and team rewards are among the new approaches that have been suggested in the creative writing. When we will give those Prizes, rewards, pays according to their skills and behaviour and performance then they will feel secured and this will increase their working skill. The discussion in this paper indicates that logic underlying this approach appears to be sound, but many key design issues confront them. I-O psychologists and other behavioural scientists can play a significant role in addressing this issue. Question: How will you define a Career? Describe the Strategies adopted for career development in Organization. Definition: The initiative for your future has long been searched in the social sciences. It has been described as being in connection with individuality and as long as a residual trace of the individual’s relationship with work. A constructionist approach to research enables a focus on the language of career-talk as an opaque incidence. The analysis of 54 interviews with university alumnae working by one large, UK based, high street seller provides an illustration of how common sense understandings nearby career work as a backdrop to individual financial records. Career as a strategic plan is denied, yet negotiate as a legitimate, even attractive, behavior of the employing association. Although the focal point of analysis is on the tools and does of communication, situated at a micro level, this analysis illustrates how specific constructive practices make worldwide notions of career relevant and up for re-negotiation in interaction Palming for making the good future: How are major UK utilizing institutions commerce with career growth in situation which we are told threaten the very idea of a future career? Carer building is one the important aspect of human resource management and it plays an important role in motivation of employees. Pressures building change in the concept of good career as imbursement together safety and series have come from hard works shortage and continually changes in company. They have brought attractive and beautiful successful ways leave the work protection, very less job atmosphere, no one can made the career. These things which are different on the earth one more thing raises for the success of these jobs. Growth we mean all those performance increasing the human mind and then he use the batter in the work as well as teaching and guidance. Changing tasks The case study organisations plays their role in this in this investigates have surely been under strong stress to review their facts about career growth. Most of them have abridged the promise of the organisation to managing the career progress of the labour force from director of manager. It was explained that in job shift batter meant of future (career) employer managed it. (Board of director who had the power and daily basis employer for the well result specially arranging the employee (by the employee)( personal development plans). Modified to over come organisational and individual need. Segmented strategies What is visibly incidence is that beneath the universal rhetoric of career growth (most often about helped self-development), real strategic place differ from each other Workforce to another: Older managers and experienced workers are receipt rehabilitated attention and are still usual for career with the farm either if it is not career of life. Successful plan work stay for long-time, and the build-up the group is also planned. For the career improvement: The maximum hard workers here the original company problem. if the every one try to encourage and push up the others so the that thing will be improve the level of activity in the organization and for this everyone will be honest with the job and the organization will be improve day by day Knowledge of the organisations in this investigate research plan based on gap point of three Keyes .each of which needs to be stopped up before oratory and realism align. A complete honest message The primary hole is flanked by the wants of the business and the fixed message from the top concerning careers and advance. This gap occurs either because the career expansion point is no good, it is badly and not fair linked or because it is poorly or dishonestly communicated. Specific the original career development place may be segmented, belied by a worldwide message. Workable career development processes. The moment hole is involving the career improvement clue accepted and the processes or interventions which HR people put in place. At in attendance these processes do not seem to bring into line with the message, they do not fit jointly, and they are not well unspoken. Real intention to deliver The third break is stuck between the official messages — of rule and/or processes — and the realism of employment and development practices. This hole clearly occurs if the message is lying. It also occurs if workers see that systems are not important for used, actually that previous plan are not suitable for promise and causes. It is just because of this gap that recourses for labour force to observe career growth scheme as mere rhetoric. What workers and their managers need at current is a much clearer sight of: The assumptions the company is creation about their prospect service and its intention to support their progress Practical processes for deploy people and delivering enlargement which are consistent with these intention The reserve and promise for taking these types of program used If we see in past we can get that simple ways in which the company could use the out test for the planed strategies and special and important clues for the good results. Ref: www.aboutmcdonalds.com.

Alcohol: A Growing Problem In The World? Essay examples -- essays rese

Alcoholism, as defined by the Random House Dictionary of the English Language, is â€Å"a chronic disorder characterized by dependence on alcohol, repeated excessive use of alcoholic beverages. The development of withdrawal symptoms on reducing or ceasing intake, morbidity that may include cirrhosis of the liver, and decreased ability to function socially and vocationally.† As you can see my report is on alcohol and alcoholism. The report will show statistics, the different types of alcohol and alcoholics, both the positive and negative health consequences and effects of alcohol, and other interesting facts and details. Here are some questions to ask yourself before you begin to read the rest of my term paper; â€Å" Am I an alcoholic?† â€Å"Do I know an alcoholic?† â€Å"Does my family of a history of alcohol problems?† If you answered yes to any of these you definitely may want to read this research paper. Alcohol dates as far back as the early Stone Age. Alcoholic beverages were first fermented in the year 4200 BC. In 1640 the first distillery in the United States was established in what is now known as New York City. In 1769 the first Canadian distillery was established for the production of rum. In the early 1800’s Rum became the most popular alcoholic beverage. In 1789 the first bourbon was produced in Georgetown, Kentucky. During the mid 1800’s a movement of prohibition began. The prohibition went into a Constitutional Amendment in 1920, but by 1933 repealed it. Today the most popular spirit is whiskey. It has accounted for 38 percent of all spirits consumed. Even so, the sales of beer and wine have greatly increased since the late 1940’s.   Ã‚  Ã‚  Ã‚  Ã‚     Ã‚  Ã‚  Ã‚  Ã‚   The drinking habits of the European differ from the drinking habits of Americans. Since Europe has many different climates and geographical features it is ideally suited for the wide variety in the production and drinking of alcohol. In Southern Europe the people mainly drink wine. Such countries are Spain, France, Italy, Switzerland, and Greece. The people of Ireland, England, Denmark, Germany, Belgium, Austria, and Czechoslovakia are known as beer drinkers. The Northern countries, Norway, Sweden, Finland, Russia, and Poland are basically spirit drinkers.   Ã‚  Ã‚  Ã‚  Ã‚     Ã‚  Ã‚  Ã‚  Ã‚   There are many different types of alcoholic bevera... ...th among teens is car crashes; drunk drivers cause more than half of these accidents. There are many groups who help people overcome their alcoholism. I will talk about one of the most famous, Alcoholics Anonymous. AA has organizations through out the world consisting of men and women who want to help each other overcome their problem. Some of these people share their success stories with those who need incentive to become sober. Alcoholics Anonymous was founded in 1935. It has 63,000 groups in the Unites States, Canada, and over 110 other countries. Anyone who joins must realize that it isn’t a medical or religious organization. The mailing address is P.O. box 459 Grandcentral Station, New York, New York 10017. To terminate my term paper, I feel alcohol has its ups and downs. While it has certain positives, it also has many negatives. I’d also like to say I enjoyed doing my research paper because I learned many things about alcohol and alcoholism that I didn’t know before I did my research. In the next couple of pages I have a table showing the alcohol involvement for drivers in fatal crashes and a chart of different drugs and the interactions they have when taken with alcohol.

Charles Dickens Hard Times Essay -- Charles Dickens Hard Times Essays

Charles Dickens' Hard Times Many characters in the novel are victims of hard times as a result of many factors. These include the lack of money, the education system, the industrialisation in the area and the social injustices of the Victorian era. The novel is divided into three books: sowing, reaping and garnering. The names of these books have biblical references. ‘Ae ye sow, so shall ye reap’ New Testament This means that there are consequences to all your actions, this idea features strongly in the novel. In the first book ‘sowing’, the actions of the characters were described for example the pragmatic education system. In the second book ‘reaping’, the consequences of these actions are described, and in the third book ‘garnering’, the consequences are explored more, along with the final outcome of these events. In the novel, Mr Gradgrind causes and suffers from hard times. He is a very rigid character in addition to being ‘a man of fact and calculations’. He causes hard times for others, including his family, with his pragmatic education system. We discover his attitudes to schooling from the very first chapter when he says: ‘In this life, we want nothing but facts, sir; nothing but Facts’ This concept is based upon utilitarianism. This is the idea that nothing except useful and practical things are wanted in life, and this causes many of Dickens’ characters hard times. They thought these concepts would provide the greatest good for the greatest number of people but it only benefited the rich, the poor sill suffered. He tries to inflict this system onto Sissy but he ends up learning a lesson from her. Towards the end of the novel he realises that he has not given his children what the... ...e goes on to become a very famous author who was very critical of lives, industrialisation and money; all of these are explored in hard times. Finally, Dickens’ experiences as a child came out in a convincing portrayal of what was wrong with the Victorian society. He was a critic to his time and from his novels we can learn a great deal about the Victorian era. Many of the characters in the novel experience hard times as a result of many factors. Stephen Blackpool is the innocent victim in the novel; he suffers greatly through no fault of his own. He is kind and trustworthy yet he is abused. Other characters such as Mrs Sparsit and Bitzer enjoy causing hard times for others. Some suffer more than others; but Dickens uses his characters to explore the hard times of the era. In conclusion, many of Dickens’ characters suffer as a result of numerous causes.

Monopoly versus perfect markets Essay

This paper investigates the two extremes of market structures. A monopoly firm, and a firm which operates in a perfectly competitive market. We will compare features, similarities, differences, advantages and disadvantages. The monopoly firm I have chosen is Thames Water. This company is an accurate example, as it’s the sole supplier of the industry. The firm, is the industry. Thames Water supply water through peoples taps in and around London. Fyffe is my chosen firm in a perfectly competitive market. I think this is a good example. It sells bananas to supermarkets and food suppliers, who resell on to customers. The next two paragraphs explain the features of perfect competition, then a monopoly. â€Å"The theory of perfect competition illustrates an extreme form of capitalism. † (Sloman, 2007:113) There are many suppliers, who all only supply and produce a small fraction of the total output, of the whole industry. None of the firms have any power over the market. (Mankiw, 2001) Barriers to entry do not exist. Therefore firms can enter and leave the market freely. Apart from the money and time it takes to set up the business, there are no other obstacles. Both producers and consumers have perfect knowledge of the market. Therefore they both know prices which should be paid, quality which should be met, availability of the product. Market opportunities for expansion, and entry opportunities in the industry as a whole. The price Fyffe must charge for their bananas will depend upon the demand and supply of the whole market, not just Fyffe personal demand. Hence they have no power over prices. They must follow the market forces. (Sloman, 2007)Established firms in the banana industry have no advantage over firms who have newly entered the market. (Parkin, Powell, Matthews)â€Å"This means they can sell all the products they can produce at the market price, but none at a price which is higher. † (Sloman, 2007:114) If Fyffe raise their selling price above p1, their demand will drop to 0, because if Fyffe raise the price of their bananas, consumers will just buy from another firm selling at the current market price. Illustrated in diagram 2. (Beardshaw, 2001) All firms operating in the banana industry sell a homogenous product, all the firms in the industry sell an identical banana. The theory states there is not a great need for advertising or branding. (McConnell, 2008) I would agree with this statement in the context of bananas. Advertising is not needed as people will not look for a specific brand of banana. They all taste the same. However I think a firm in a market selling shampoos and conditioners would need a certain amount of branding and advertising so people choose their product and gain customer loyalty. In the shampoo industry products are not as homogenous. A pure monopoly owns 100% of the industry. Thames water have a great deal of power, and are price makers, thus they set the price to how much they want to charge. If the consumer cannot, or doesn’t want to pay the price, they have to go without the tap water. In the short run both perfect competition and monopolies can make economic profits, losses and supernormal profits. Only monopolies can manage to sustain super normal profits in the long run. â€Å"Persistant economic profits are called monopoly profits. † (Dobson, 2005:99) Monopolies can sustain supernormal profits and remain safe and unaffected by competition due to barriers to entry. Supply to the industry does not increase with new entrants. (Hunt, 1990). There are many types of barriers to entry. Thames water is known as a natural monopoly, meaning there are barriers to entry due to large economies of scale. (Sloman, 2007) Capital equipment is so expensive and large scale that only one sole supplier could manage to make a profit in the water industry. However Thames Water incurred low marginal costs once they are set up. â€Å"If average cost falls as output increases over the entire range of market demand its a natural monopoly. † (Dobson, 2006:100) â€Å"Each would have a very high average cost at a low output. † (Begg, 2005:134) Correspondingly Thames Water gain barriers to entry through lower costs. This is an artificial barrier. The firm is experienced in their field. Has good knowledge of their market, and will be able to gain the best rates of interest on finance, the best suppliers at the lowest costs, and lean methods of production. Other firms would struggle to compete. If a firm decided to set up and compete with Thames Water, and failed by going out of business there would be huge sunk costs. This occurs when high amounts are spent on capital expenditure, which cannot be used on another business venture. (Sloman, 2007) This is an example of exit costs. It would be a huge loss to the firm, and would discourage firms from entering the market. Thames water also have patents copywrite and licensing. The next two paragraphs explain the effect on demand for perfect competition, then a monopoly. For Fyffe the price charged for the bananas is equal to marginal revenue. Average revenue and demand are also equal to price. If average cost dips below average revenue the firm will earn supernormal profits. If demand is above where marginal costs and marginal revenue meet the firms will be making normal profit. See diagram 2. Normal profits cover opportunity costs of the owners money and time. If Fyffe set output below equilibrium marginal cost would exceed marginal revenue and profit would be lowered. If Fyffe raised output above equilibrium marginal costs would exceed marginal revenue and profits would also be lowered. See graph 1. (Dobson, 2005:99) The demand curve is elastic for the banana industry, but not perfectly elastic. Hence why it slopes downwards in diagram 1. If there is a rise in price for bananas, consumers will spend less on the product, and Fyffe will entail a fall in revenue. In contrast if the price of bananas drop, consumers will buy more of the product, and providing the firm is covering their costs they will receive an increase in revenue, because bananas can be relatively easily substituted by another cheaper fruit. Furthermore bananas will sell for a cheaper price when they are in season, due to a larger supply to the market in this period. Fyffe is perfectly elastic which is why their demand curve is horizontal. See graph 2. The firms prices are not affected by their output and their decisions do not affect the industry. (Ison, 2007) Firms must produce at equilibrium to maximise profits, which is where the market supply, meets the market demand, as illustrated in diagram 1. Short run â€Å"assumes the number of firms in the industry does not increase, as there is not enough time. † (Sloman 2007:114) When a firm produces quantity and price, where marginal costs, and average costs meet they are breaking even. See diagram 2. (Begg, 2005) Consumers are charged a price which is equal to what it costs the firm to produce the extra unit. See diagram 2. If the demand curve for bananas increases short term, the demand curve will shift to the right. See diagram 3. This results in a higher equilibrium and a higher selling price. As selling price has increased farmers will raise their output by increasing their variable costs such as labour and materials. This will result in a larger profit and profits are maximised. As illustrated in diagram 4. In contrast if the demand for bananas was to decrease, this would cause a shift to the left in the demand curve. See diagram 5. This results in a lower equilibrium for the industry, and a fall in the selling price. Consequently all firms in the industry including Fyffe would reduce output, by decreasing variable factors and the firm would suffer economic losses. As illustrated in diagram 6. (Dobson, 2005) If Fyffe or Thames Water are not covering their average total costs in the short run, they should carry on trading, but if they are not covering their short run average variable costs, it would be cheaper to temporarily close down. The theory is known as the short run supply decision. (Ison, 2007) In the long run any firm should close down if it is not covering its total average costs as it is loss making. Called the long run supply decision. (Begg, 2003) When demand increases and selling prices rise in the long term, existing firms are making supernormal profits. Several new firms will enter the market. The supply curve will shift to the right, and supply will increase, which will lower market price. As more new industries join firms reduce their output until they are making a normal profit again. Output of the whole industry will be larger now that more firms are in the market, and there is no incentive for firms to enter, or leave the market as breakeven profits are being made. Referred to as the entry or exit price. When there is a decrease in demand, prices will fall, and firms will reduce output to minimise losses. Eventually due to losses some firms will leave the market which lessens supply and the supply curve will shift to the left. This raises prices due to restricted output, and farmers will start to make normal profits again. So there are less firms and less output in the industry. (Dobson, 2005) In the long run there are no fixed costs in any industry, as firms can change their plant size or machinery. Resulting in a long run supply curve which is flatter than the short run. (Begg, 2003) If all firms operating in the industry restricted supply together increasing demand and prices, new firms would enter the market which would increase supply and lower prices. (Begg, 2005) Thames water are price inelastic, and have a low income elasticity of demand, because there are no close substitutes for their product, and water is a essential item. However they are not perfectly inelastic, as a rise in price will still amount to a small drop in quantity demanded. This means Thames water’s revenue will increase with a rise in price, and decrease with a fall in price. A profit maximising level of output is where marginal revenue is equal to marginal cost but rising up to the demand curve to obtain price. See diagram 9 (Sloman, 2007) The demand curve in diagram 9 represents the value of Thames water to customers, and the marginal curve shows the costs Thames water must pay. The marginal revenue curve must lie below the downward sloping demand curve as marginal revenue is less than price. The further the distance between the demand curve on the right hand side and the marginal revenue on the left the more inelastic the demand, see diagram 9. (Dobson, 2005) ) A firm cannot produce to the right of marginal revenue as this part of the diagram is inelastic. In order for the monopolist to sell a larger amount, the price must be lowered on all previous units, so to prevent this the monopolist may restrict output to keep a larger revenue. Creating scarcity and raising the equilibrium price. (Begg, 2005) â€Å"The excess of price over marginal costs shows the monopolies power† (Dobson, 2005:102) The power to raise prices by selling a smaller amount of output. Diagrams 8, 9, and 10 show long run economic profits, normal profits and losses. Thames water will then check weather the profit maximising level of output covers their total costs in the long run and variable costs in the short run. (Begg, 2003) Thames water is not a contestable market due to the fact it’s a natural monopoly, and has very high barriers to entry. This means they can charge high prices and make supernormal profits, without the threat of competition and new entrants. (Sloman, 2007) Thames water may want to behave ethically when setting prices. If they choose too high a price which people cannot afford this could lead to poverty, but if they charge too low a price this could lead to a wastage of water. Monopolies often use price discrimination when setting prices. Although Thames water do not. Perfect competition cannot use this method. Particular consumers are charged a higher price for an identical service so the monopoly can earn higher profits. (Ison, 2007) Revenue is not lost from previously sold units when price is reduced. More output can be sold ands firms can catch some of their consumer surpluses. See diagram 12. â€Å"Surpluses are the difference between actual price paid and what consumers will have been willing to pay. † â€Å"So the business is treating the demand curve as the marginal revenue curve† (Ison, 2007:138) Only works when consumers cannot buy the product for a cheaper price and sell on to others. (Begg, 2005) A firm operating in perfect competition will achieve allocative efficiency. This exists when price is equal to marginal costs. â€Å" Society is better off when resources are allocated to maximise the total surplus in the market. † (Dobson, 2005:91) Productive efficiency will also be achieved, meaning Fyffe will produce and sell their output for the lowest price they can in the long run giving consumers the best possible value for money. â€Å"Price equals minimum average total cost. † (Dobson, 2005:92) This is good for consumers and society as consumers get the best possible value for money. (Sloman, 2007) Perfectly competitive markets are critised for having a lack of variety, unable to fully satisfy consumers wants and needs. Furthermore the long term entry and exit of firms can be a waste of certain resources such as empty buildings. This is called competitive forces in action. (Dobson, 2005) Monopoly’s are in a position to give us a lower price if they decide to, due to economies of scale. The marginal cost curve is lower than the supply curve in their graph which means the firm can supply more output at a lower production cost. Supernormal profits can fund research and development which will improve the quality of the product. Therefore the monopoly can innovate and introduce new products. (Ison, 2007) However some firms may not do this as they do not need to fight to stay in the industry, with no competition around. (Mankiw, 2001) Joseph Schumpeter said in theory monopolies have more ability and incentive to innovate which can make them better for society. If you imagine a whole industry was taken over by a monopolist, they could eliminate competition and charge very high prices, by reducing output level to which raises price. Supernormal profits represent a redistribution of income from consumer to producer which can be critised on equity grounds† (Ison, 2007:137) Monopoly firms have been known to â€Å"engage in dirty tricks to protect themselves from competition. † They do not produce an output which minimises average costs. Making them productively efficient. â€Å"Perfect competition is rare due to larger companies expanding, gaining economies of scale and market power. Resulting in other firms being forced of the business. So if economies of scale did not exist any industry could have perfect competition. † (Dobson, 2006:94) Monopolies are also rare, and both are extremes of market structures. Most firms lie somewhere between the two. I think the two firms I picked are a fair comparism. They are both from a mixed economy. Thames water will have regulating agencies monitoring them. There are only 3 legal monopolies in Britain Thames Water included. In the past there was a significant amount of monopolies which were government owned. When Margaret Thatcher came into power she privitised these firms as she believed competition would lead to greater efficiency and lower prices which would benefit society as a whole. I agree with her decision and I think after researching, perfect competition appears to be the better option for consumers. Monopolys benefit society in certain situations such as retained profits ploughed back into research and development for medical reasons, and natural monopolies who could not survive in a perfectly competitive industry. Monoplies and perfect competition are becoming more rare as time goes on and who knows what will happen in the future.