Price Control Free Essays

Price Controls Econ 360-002 Sonia Parsa Sparsa1@gmu. edu G00509808 Word Count: 1540 Abstract This paper examines how, in the United States, the government imposes several forms of taxes and price controls and how all individuals are required to pay direct and indirect taxes. It looks at how the approach of taxation and how the constraints of taxation on goods and price controls affect the U. We will write a custom essay sample on Price Control or any similar topic only for you Order Now S. economy. Introduction Regulations have played a huge role in the political and economic world for centuries. There are various different types of regulation. One regulation that the government imposes under its tax policy is price control, which is not considered to be voluntary. Price control can play two different roles, a price ceiling or a price floor. A price ceiling is the maximum price that can be charged in the market for a certain good, causing shortages, and a price floor is the minimum price that can be charged in the market, which then causes surpluses. Measures are usually taken by a government under its regulatory policy to control wages and prices in an attempt to check cost-push inflation and wage-push inflation[1]. However, these policies never help the economy. Instead, it worsens the situation. Governments also impose price controls as an indirect mechanism for taxation. The most well-known price controls enforced by the United States government today are: the policy of minimum wage, rent control, and oil price control. Having enforced price controls generate opportunities for economy failure, i. e. shortages and surpluses, as well as opportunities within the black market, and international arbitrage. The Economic Philosophy When a price control is forced by the government, it’s usually imposed to help or protect particular parts of the population which would be treated inequitably by the unfettered price system. But one must wonder which part of the population, the consumers or the producers? Is it not true that the consumers always feel as if the prices of a good are much higher than their actual value, while producers always feel as if the prices are too low? Price controls are usually justified as a way to help consumers, but whether they actually do is open to debate. Imposed price controls by the government are not only an absolute disaster, but have resulted in dislocating many economies in the past. The key is to recognize that when governments impose price controls; it does not only affect their nation, but also affects parallel imports with their trade partners because of a price â€Å"discrimination,† in regards to tariffs. The Economic Logic The effect of taxation and price controls on the economy vary from the decrease of the supply of goods to an increase in costs and can be demonstrated by a supply-demand analysis (Figure 1). In a free market, the equilibrium selling prices are shown by an upward sloping supply curve (S) with respect to price. The maximum buying prices on the part of the consumer is then shown by a downward sloping demand curve (D) with respect to price. After a quantity of a good is acquired by a consumer, the less important the desire is than before. Therefore, the supplier has to lower the price for each unit as it is sold. Where the supply and demand curve intersects at the margin is called the equilibrium price. In a maximum price control, a deadweight loss occurs in the triangle of a, b, c. pic] For example, when there is a tax imposed on a good like tobacco, there is an increase in the price of the product. This is called minimum price control and the price is not legally allowed to fall below the minimum. This shifts the supply curve of the product to the left. In other words, there are fewer goods available at the same prices than there were before. There is then a decline in the quantity demanded and a new equilibrium between demand and supply is reached. On the other hand when price controls are imposed there is an artificial decline in the prices. At the lower prices, a higher quantity is demanded but the production is insufficient to fulfill that demand and causes a shortage. We can also use the supply-demand analysis to dissect the labor market when a wage-control is placed by the government (shown in Figure 2). By establishing a minimum-wage law, it mandates a price floor above the equilibrium wage; therefore, the rate of unemployment among unskilled workers increases. When wages increase, a greater number of workers are willing to work while only a small number of jobs will be available at the higher wage. Companies can be more selective in whom they choose to employ causing the least skilled and inexperience to be excluded. [pic] Figure 2 assumes that workers are willing to work for more hours if paid a higher wage. We graph this relationship with the wage on the vertical axis and the quantity of workers on the horizontal axis. Combining the demand and supply curves for labor allows us to examine the effect of the minimum wage. We will start by assuming that the supply and demand curves for labor will not change as a result of raising the minimum wage. This assumption has been questioned. If no minimum wage is in place, workers and employers will continue to adjust the quantity of labor supplied according to price until the quantity of labor demanded is equal to the quantity of labor supplied, reaching equilibrium price, where the supply and demand curves intersect. Evidence- Minimum Wage Basic theory says that raising the minimum wage, which is a type of price-control, helps workers whose wages are raised, and hurts people who are not hired because companies cut back on employment. The very first federal minimum wage laws were imposed under the National Recovery Administration. The National Industrial Recovery Act, which became law on June 16, 1933, established industrial minimum wages for 515 classes of labor. Over 90 percent of the minimum wages were set at between 30 and 40 cents per hour. [2] C. F. Roos, who was the director of research at the NRA at that time, estimated that â€Å"by reason of the minimum wage provisions of the codes, about 500,000 Negro workers were on relief in 1934. † Roos added that â€Å"a minimum wage definitely causes the displacement of the young, inexperienced worker and the old worker. [3] By imposing minimum wage rate, free contract in the labor market is shattered. A firm is no longer allowed to pay below the minimum and the laborer cannot accept anything below the minimum that has been set as well. The free-market allows inexperienced workers to obtain entry-level positions, which gives them on the job training, by working for less. With the imposed wage-control, if the monetary compensation falls below minimum, th e trade-off becomes illegal which is a direct violation of a workers liberty to free contract. Thomas Rustici, in his book about minimum wage, makes an excellent point when he states: â€Å"In virtually every case it was found that the net employment effects and labor-force participation rates were negatively related to changes in the minimum wage. In the face of 50 years of evidence, the question is no longer if the minimum wage law creates unemployment, but how much current or future increases in the minimum wage will adversely affect the labor market? †[4] For years we have witnessed the effects of what minimum wages execute, yet we continue to conduct the same mistakes. Conclusion Obligatory price controls by the government are not only an absolute disaster, but have resulted in dislocating many economies all over the world for thousands of years[5]. As economic history has shown us, price controls being effective in a free competitive market are very rare. We either experience shortages or surpluses as a result. Who wins and who loses with an imposed price control? Setting a price control in one country affects other countries around it as well due to parallel imports and personal trafficking. Prices are not just numbers to a free competitive market; they are the expression of the value the supplier sets, no matter how subjective it may be. To regulate or to impose a price control, like any form of regulation, is unconstitutional. In some cases, it either violates the 5th amendment and/or 14th amendment. Price controls, wage controls, and money controls are really people controls. Regimentation at its worst- that is what a socialist dictatorship is all about. I believe that the free market has its own way of equalizing the economy and when the government interferes and sets price ceiling or price floor, it causes a chaos within our economy. Regardless if it results in a dead weight loss or a shortage, the consequences can sometimes be more destructive in the long run. Even if a government believes that price controls are set and affect only their country, it does not; it affects every nation that does any trade with them, exports or imports. The appeal of price controls is understandable. Even though they fail to protect many consumers and hurt others, controls hold out the promise of protecting groups that are particularly hard-pressed to meet price increases. However, when the government has proposed a control, there is a lag in time, causing an economy to become more impaired. References Barfield, C. E. and Groombridge, M. A. â€Å"The Economic Case for Copyright and Owner Control over Parallel Imports. † Journal of World Intellectual Property, Vol. 1 (1998), pp. 903-939 Benjamin M. Anderson, Economics and the Public Welfare: A Financial and Economic History of the United States, 1914-1946 (Indianapolis: Liberty Press, 1979), p. 36. Cambridge Pharma Consultancy. Pricing and Reimbursement Review 2003. Cambridge, UK: IMS Health-Management Consulting, 2004. â€Å"Gas Fever: Happiness Is a Full Tank. † Times Magazine 18 Feb. 1974. 19 June 2009 . Grossman, Gene M. , and Edwin L-C Lai. â€Å"Parallel imports and price controls. † RAND Journal of Econ omics 2nd ser. 39 (2008): 378-402. Princeton. Web. 8 Dec. 2009. . Richard M. Alson, J. R. Kearl, and Michael B. Vaughan, â€Å"Is There a Consensus Among Economists in the 1990’s? † American Economic Review 82, no. 2 (1992): 203–209. Rustici, Thomas. â€Å"Public Choice View of Minimum Wage†. Cato Journal, 5. 1) Spring/Summer 1985: 114. ISSN: 0273-3072 Steenhuysen, Julie. â€Å"Drug price controls may shorten lives: report | Reuters. † Business Financial News, Breaking US International News | Reuters. com. 16 Dec. 2008. Web. 8 Dec. 2009. . The Power of Oil: The Arab Oil Weapon and the Netherlands, the United Kingdom, Canada, Japan, and the United States Roy Licklider International Studies Quarterly, Vol. 32, No. 2 (Jun. , 1988), pp. 214 ———————– [1] Grossman, Gene M. , and Edwin L-C Lai. â€Å"Parallel imports and price controls. † RAND Journal of Economics 2nd ser. 39 (2008): 378-402 . Princeton. Web. 8 Dec. 009. . [2] Leverett Lyon, et al. The National Recovery Administration: An Analysis and Appraisal (New York: Da Capo Press, 1972). pp. 318-19. [3] Benjamin M. Anderson, Economics and the Public Welfare: A Financial and Economic History of the United States, 1914-1946 (Indianapolis: Liberty Press, 1979), p. 336. [4] Rustici, Thomas. â€Å"Public Choice View of Minimum Wage†. Cato Journal, 5. (1) Spring/Summer 1985: 105. ISSN: 0273-3072 [5] Barfield, C. E. and Groombridge, M. A. â€Å"The Economic Case for Copyright and Owner Control over Parallel Imports. † Journal of World Intellectual Property, Vol. 1 (1998), pp. 903-939 How to cite Price Control, Papers

Clean Edge Case Analysis free essay sample

Case Analysis of Clean Edge Razor Problem Statement Paramount Health and Beauty Company developed the Clean Edge Razor, a technologically advanced non disposable razor. The company now has to study and segment the market environment and find a suitable target to successfully position and launch their product. Situational Analysis General Market Profile Products available in U. S. Razor market are non-disposable razors, refill cartridge, disposable razors, shaving cream, and depilatories. Non-disposable razors recorded average growth of about 5% in retail sales during the period 2007 to 2010 whereas refill cartridge and disposable razors recorded growth of approximately 2% and 3% respectively for the same period. Innovations and new product introductions are the prime factors for the growth. Non-disposable razors and refill cartridge market is broadly classified into three segments namely value, moderate and super premium based on price and quality. Paramount’s consumer research identified distinct segmentation in terms of product benefits and consumer behavior. 39% of non-disposable razor users are segmented as Involved Razor users, social/emotional shavers; 28% as Involved Razor users, aesthetic shavers and 33% as Uninvolved Razor users, maintenance shavers. Studies from 2009 showed that the retail sales of non-disposable razors and refill cartridge came from 25% volume of super-premium, 43% of moderate and 32% of value segments. In the last decade, the industry has experienced significant growth in the super premium segment. Product innovation and new technology is leading this sector for a number of new entrants. In 2008-09 the rate of new product innovation leads to 22 new SKUs to be introduced. SWOT Analysis Strengths Paramount Health and Beauty Company’s biggest strength is that it is a well-established brand with deep pockets and a very good association with consumers. The product- Clean Edge Razor, that they have released, is also the best technologically in the current market. Weaknesses The company does not have a slice in the 37. 2% of the pie that corresponds to the super premium segment which has immense potential. Also there is a risk of launching the product in the wrong segment or positioning it wrongly. A wrong move could result in cannibalization of Paramount Pro, another product in their portfolio. Opportunities There is very good growth in the super premium segment especially in men’s grooming. The market is also highly profitable so vendors are ready to stock the products. Also, the maintenance users are a market not ventured by any company till date. Hence the opportunities are immense. Threats A good number of competitors are trying to become the leader in this segment which is expected to grow in the future. The competitors could also catch up with the latest technology and release a technologically more advanced product. Also, a wrong execution would result in damage of the firm’s repute. The substitutes are also a major competition. PORTER’S FIVE FORCE FRAMEWORK SUPPLIERS POWER (LOW) Large number of suppliers BUYERS POWER INDUSTRY RIVALRY (HIGH) (HIGH) Differentiated products Large no. of players already present ENTRY BARRIERS (LOW) Easy to enter the market no major costs involved THREAT OF SUBSITUTES (HIGH) Availlability of alternatives like disposable and electric razors There is large number of players already present in the premium segment hence there is high level of rivalry in the industry. Availability of alternatives like disposable and electric razors make a high threat of substitutes. Because of large number of products available and constant innovation in the sector it is very easy for the consumers to switch the companies. Hence, consumers have a high bargaining power. Entry barriers are low in the industry since no major RD costs are involved and there are no major regulations. The bargaining power of the suppliers is low. Hence, overall the premium segment of nondisposable razors is an attractive industry to enter into. Positioning Strategy: The first strategy that we suggest is Niche Positioning, targeting the premium segment: As of now, the products released by Paramount in the non-disposable razer segment, Paramount Pro and Paramount Avail are positioned in the moderate segment and as a value -offering respectively. After three years of development, Paramount Health and Beauty Company has come up with a new technologically advanced vibrating razor called Clean Edge. Keeping in mind the superior technology used and the fact that Paramount has not launched a product targeting the premium segment, Paramount could adopt Niche Positioning while launching Clean Edge. However, there are certain disadvantages and advantages: Advantages: Positioning Paramount’s Clean Edge as a niche will accentuate the company’s product portfolio significantly. From the exhibits it is visible that it will result in high and consistent profit margins for the company and the risk involved will be less. Apart from that, the financial requirement of launching the product in the premium segment is only 15 million dollars as against 42 million dollars for the mainstream targeting. Disadvantages: As the trends suggests, understanding the fact that the premium segment has not been targeted significantly, almost all of Paramount’s competitors have launched products for this segment. Also, for the past 5 years, the company’s current products Pro and Avail have not introduced any new innovations as a result of which its customers are moving on to other competitors. The product pro is in the mature face and might need phasing out eventually. The second strategy that can be followed is Mainstream Positioning. The advantages and disadvantages of the same are as follows: Advantages: Consumers are becoming more and more sophisticated day by day and expect more advanced technology. Paramount’s bread and butter product, Pro was in the mature phase of the product lifecycle so there is a possibility of decline. Positioning Clean Edge as mainstream product will help prevent loyal Paramount customers from being wooed away to more innovative brands. Main stream razor unit volumes are expected to capture over three times the volumes of the niche market in the first year. Clean Edge has the potential for true market domination and would quickly gain mass appeal. Disadvantages: Paramount already had product in mainstream positioning -Paramount Pro so launching it as mainstream positioning will dilute the brand power and will lead to cannibalization. More marketing support will be needed to reach the target masses. The company would require an extensive advertising campaign, considerable consumer promotions would be needed and thus the expenses associated with them will be huge. To reach full sales potential with this positioning, $42 million marketing budget would be needed for year one. Total sales of Paramount for Avail and Pro for first year (2009) and second year (2010) are calculated using the market size (retail sales) and corresponding market share, both real (2009)and estimated (2010), of Paramount. The cost of Cannibalization is calculated using total sales and percentage of cannibalization given. Analyzing the result, it is evident that launching the product is a profitable venture; however, the cost of cannibalization may change equations. The cost of cannibalization is lower for the niche market as compared to mainstream market. Although, cannibalization adjustments give us losses for the first year in the case of both mainstream and niche, the profit obtained in the second year for mainstream is larger than niche market. Branding Strategy The branding should be done in such a way that it emphasizes Clean Edge Razor as a unique and breakthrough product with the usage of latest technology. However, given the tight advertising budget, it should use the well-established name of Paramount rather than build a brand based on the Clean Edge. This should help potential buyers connect with the product quickly and test it. This should ensure maximum sales. Recommendations Conclusion The recommendation is to introduce the Clean Edge into the marketplace as a niche product since data shows that consumers in the premium segment are willing to switch between the companies. Using advertising and promotion of the new product we can gain market share from competitors. Exhibit 8directly supports this recommendation and shows that even though unit sales are less than main stream sales, the operating profit and the operating profits as % of sales is higher. In both year one and year two, this niche market is profitable and growing. It is here that Paramount should focus its efforts on product introduction and positioning for the Clean Edge Razor. Once it has launched itself in the niche segment, Randall should then launch it, maybe after 2 to 3 years, in the mainstream category. As the data shows, both niche and mainstream strategy will help Paramount to raise its market share in super- premium non disposable razor segment. But the niche strategy will enables Clean Edge Razor to contribute profit and at the same time, limit the effect of cannibalizing Paramount’s existing products.

Osteopathy free essay sample

More than forty-five percent of all osteopathic physicians are general practitioners or family doctors. As with medical doctors, osteopaths have office practices and work in hospitals. About fifteen percent of all osteopathic physicians are specialists in such fields as surgery, obstetrics and gynecology, pediatrics, psychiatry, neurology, and internal medicine. A small number of osteopathic physicians have salaried positions in osteopathic hospitals and colleges, private industry, and government agencies. In order to be an osteopath you are required to go through extensive training. Osteopathic medical education requires 4 years of fulltime, comprehensive, and complete medical education. Once graduated and having attained the D. O. degree (Doctor of Osteopathy) prior to being eligible to practice, the osteopathic physician must complete a further 2 to 5 years of fulltime residency training in the specialty of their choosing such as internal medicine and subspecialties, surgery and subspecialties, orthopedics, pediatrics, obstetrics and gynecology, emergency medicine, psychiatry, dermatology, pathology, family medicine, or musculoskeletal medicine (manual therapy osteopathy). We will write a custom essay sample on Osteopathy or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page There are 18 certifying boards with 85 specialties and subspecialties. Upon completion of residency training, specialty certification examinations are required. Even after the required education and training osteopaths still attend education courses so that they can be updated on all of the current techniques that could be used for different situations. Osteopaths are required certain skills that will enable them to do their job efficiently and excellently. Osteopaths firstly need to have a great nowledge of the human anatomy, so that they know where everything should be and how one ailment could also be affecting another part of the body. Listening skills are very important when pursuing a career as osteopaths. This will be used to determine or diagnose what is causing the illness or disease and would also guide them in using the proper treatment. Effective communication skills are essential to interact properly with patients. Osteopaths need to explain things clearly to patients mo re especially the  treatment procedures that will be used. They should know how to make the patient comfortable since they would be using sense of touch to diagnose and treat health problems. This is the reason they need to also have excellent eye-hand coordination. They need to be sensitive and patient. It will be helpful if they enjoy caring for other people. They need to be keen to details especially when reviewing the patient’s medical history. An osteopath will typically practice their skills in a clinic in the beginning of their career in order hone their skills while being supervised by an experienced osteopath. This is only optional, but it is very helpful for their career. An osteopath has many duties and responsibilities that they have to do during their day. Their duties include having to organize and keep their clients personal information. You will have to be able to diagnose and treat the ailment or disease that is affecting their client by relying on medical as well as surgical modalities. Osteopaths will correct disorders and afflictions of bones, muscles, nerves, and other body systems by medicinal and surgical procedures and, when deemed beneficial, manipulative therapy. Osteopaths will employ diagnostic images, drugs, and other aids to diagnose and treat bodily impairments. Some osteopaths will practice medical or surgical specialty. Since most osteopaths work privately their weekly hours will differ from others, but typically they work 40 to 50 hours a week. An osteopath does not have a lot of stress in their work environment. This is because they are mostly their own bosses as well as in control of their work hours and do not have any deadlines. An osteopath’s salary and wages depend on their experience, skill, as well s the amount of hours they work a week. The typical osteopath makes 90-140 dollars an hour. Since osteopaths can work in different environments such as government agencies, private practices and even from home; their hours will vary differently. On average an osteopath will make $160,000 annually. Although this can range from 90-170,000 dollars. After being an osteopath for a certain amount of years you could become an osteop ath university teacher. I picked osteopathy as my profession because it is the career that my mom has chosen. I wanted to do this because I never really understood how osteopathy worked or all of the stuff that she does. After researching this profession I am very interested in it because of the flexible schedule and the good pay. I think that the type of person that would be interested in this job would be a nice person that enjoys helping people as well as to be patient in order to put up with patients that are difficult to deal with. This person would have to be body smart as well as people smart. Thanks to career studies I have learned that this kind of job is probably not the best for me. I do not have the patience to deal with this job, as I am a doer according to career studies. In my types of intelligence sheet it says that I am not body smart and knowing the body is the most important aspect of being an osteopath. Also, for my career suggestion sheet it suggests that I do jobs that are outdoors and not jobs that have me inside for the entire day. After taking career studies I have found that the jobs that were suggested for me to take were jobs that I had already that of doing, such as fire fighter, police officer and zookeeper.

Lord of the Flies Summary by William Golding

Lord of the Flies Summary by William Golding Free Online Research Papers 1.)General Information about the work: a. Author : William Golding b. Title : Lord of the flies c. Year of publication : 1969 d.Genre : Lord of the Flies is a futuristic fiction novel, it takes place in an imaginary future. 2.)Specifics of the story a.Where and when is the story set? The story takes place in an imaginary future on a uninhabited tropical island somewhere in the ocean. b. Briefly describe the main characters. Ralph -> A good-looking boy with fair hair. He is in charge of all the boys on the island. Ralph is self-confident and sort of the hero of this book. He wants to be rescued as soon as possible and therefore sees no need in hunting and feasting. Piggy -> Piggy is an outcast in the group because he wears glasses, is fat and intelligent. He helps Ralph with his task of being in charge. Jack -> Jack is an aggressive type. He enjoys hunting very much; he gets caught up with it and becomes a savage. He wants himself to be the leader of the group instead of Ralph. Along the book Jack’s going slightly mad. c. Who is the speaker? The story is told by an omniscient author, who can enter the minds of his characters but who also remains at a distance. d. What do you know about the author? William Golding was born in St. Columb Minor, Cornwall in 1911. In the year 1939 he got married. He got two children. In 1940 he served in the navy. After that he became a schoolmaster on Bischop Wordsworths’ School in Salisb. He enjoys sailing and the classical Greek language, which he taught himself. He writes books and he also writes poetry. e. Does the story fit in the time period in which it was written? Yes, this century was a time of war. Golding even took part of the 2nd World War. It is no wonder that Golding started questioning humanity. 4.) Thematical a. What is the theme? It is a theme novel, the central theme is Evil. When the boys are on the island, their civilised behaviour starts to fade away and some of them become evil. b. What is the main problem in the story? Jack is the main problem. Ralph wants to keep the fire burning so they can be rescued and Jack only wants to hunt. Eventually Jack becomes a savage and becomes the leader of his own tribe. They even kill two boys of the group and are trying to kill Ralph. c. Is this problem solved? Yes, at the end of the book the boys are saved by a navy cruiser. So they are all saved from Jack. d. How would you deal with it? It’s a really difficult situation because Jack would be willing to kill you. But I guess I would flee to another part of the island and start to live there. Eventually other children would come too because of Jack’s dictatorship. e. What is the link between the title and the theme? I don’t see a link between the both of them. The title is revering to the pig’s head, which is poked on a spear to attract the beast. Because the head is covered with flies the boys call it The Lord of the Flies. 5.) Select a passage from the text which appeals to you. Copy it and elaborate on your choice. â€Å"I’m scared of him,† said Piggy, â€Å"and that’s why I know him. If you’re scared of someone you hate him but you can’t stop thinking about him. You kid yourself he’s all right really, an’ then when you see him again; it’s like asthma an’ you can’t breathe.† I think the Piggy’s fear of Jack is expressed very well here. When I read it I feel sorry for him because Jack bullies him all the time. Especially the part where he mentions his asthma, I believe for Piggy being near Jack is like having an asthma attack but not having your medicine. 6.) Opinion a. What is your opinion of the book? Golding has really made a marvellous book. The behaviour and habits of the children in the book is so well written. I wasn’t surprised when I heard that Golding examined the habits of children. He really gave an adult view of what might happen in real life if children were left alone on a tropical island. The tension in the book is built up well, the author really keeps you reading. b. Would you recommend it to others? Why (not)? I would recommend it to others because this book is not only about a group of boys left on an uninhabited island. It has a deeper meaning to it that’s really worth it. 7.) Write your own summary A group of boys are on a stuck on an uninhabited island when their plane crashes. On the beach Ralph found Piggy, one of the boys, who has found a conch shell. With this conch Ralph calls the other boys. The group voted for Ralph to be their leader. Ralph decides that Jack and his choir are the ones who hunt for food and keep the fire going so that they can be rescued. Ralph also makes a rule about the conch; the boy who has the conch may speak. When Jack and his little group weren’t keeping the fire going a ship appeared on the horizon. They could have been saved if jack didn’t let the fire go out. Ralph is very angry with Jack. Jack breaks Piggy’s glasses in his madness. From this point Jack and his little group are starting to separate themselves from the rest. The rumour about a beast was believed to be true when Eric and Sam saw something at the top of the mountain. Ralph and Jack go up the mountain to kill the beast, which was actually a dead airman who is shot down, but fled because they were scared. Many of the boys are still frightened. Jack starts his own tribe because he couldn’t live with Ralph’s rules. Jack’s tribe hunt a pig. They put the head of the pig on a stick to please the beast. Simon, who doesn’t feel at home with other people around often sneaks out into the forest so he can be alone. He pretends the pig’s head, the lord of the flies, can speak. The lord of the flies tells him that nobody can escape from the beast because the beast lives inside everyone. Simon climbs up the mountain and finds out that the beast is just a dead airman. When he goes back to the tribe to tell them the news he’s killed because the tribe thinks he’s the beast. Jack and his tribe steal Piggy’s glasses that night so they can make fire. The next day Piggy, Ralph, Sam and Eric go to Jack’s tribe to reclaim Piggy’s glasses. Suddenly they are having a big fight and piggy is killed by rock. Ralph has to run for his life, and after a long pursuit on which almost the whole island catches fire, he finds a naval man and knows he‘s saved. He can finally be himself and cries all the experiences away and so does the rest. Research Papers on Lord of the Flies Summary by William GoldingHarry Potter and the Deathly Hallows EssayMind TravelTrailblazing by Eric AndersonThe Masque of the Red Death Room meaningsEffects of Television Violence on ChildrenWhere Wild and West MeetBook Review on The Autobiography of Malcolm XHonest Iagos Truth through Deception19 Century Society: A Deeply Divided EraHip-Hop is Art

Economics for Hospitality, Tourism and Leisure Essay

Economics for Hospitality, Tourism and Leisure - Essay Example The popularity of Guam as a tourist spot among Japanese could be attributed to the former’s location as well as alignment to East Asian culture. However, recently the set of Japanese tourists has been changed from the traditional set of middle-aged tourists; Guam is recently being viewed as a favorite weekend spot by the Japanese youth (Dougan, 2007). Given the tourism revenues which come from Japan, Guam thus needs to devise new strategies of attracting and retaining the new set of tourists. Marketing decisions are important in the tourism sector which is featured by a high degree of competition (Dasgupta, 2011). In the present case, marketing decisions are necessary to adopt by the Guamanian government to ensure that the Japanese prefer no other destination as a vacation spot. One important strategy they might adopt is to frame new tourism packages for the new set of tourists. In the era of globalization, youth generally are fonder of a culture inclined more towards the West, unlike the middle-aged population. Hence, Guam could pay greater attention to features which are more Western than Asian in order to retain their new set of visitors. It can easily gain the assistance of USA – of which Guam is a territory, in this regard. Simultaneously, they may not neglect their older features as well since such a step might bar the middle-aged population. Guam is more popular as a weekend spot which is why they might not need to hold back upon their traditional culture, as a method to attract the historical tourist. In addition to marketing decisions, the national administration needs to stay alert about the supply side factors as well in order to attract tourists. Supply decisions primarily include the method in which tour operators cater to the needs of visitors to the nation (Shaw & Williams, 2004). In this regard, the national administration could induce tour operators to enter into pacts with hotels so as to make the rates more

Finance Project Essay Example | Topics and Well Written Essays - 250 words

Finance Project - Essay Example AMN’s Total margin is negative for both years, but better comparatively in 2011 which is because the expenses incurred are greater than Revenue generated. AMN’s Days Cash on hand is 0, which is because AMN has very less hand and so has no number of days for existing cash to be paid to creditors. AMS’s Days A/R has increased in 2011 and is far more than in 2009. It is mainly due to the fact that A/R has increased, significantly. AMN’s Long term to equity has increased from 0.59 to 1.28, which is because AMN has employed more debt in its capital structure, not only to meet its current but also log-term obligations. AMN’s Sales per FTE has increased a bit in 2011, due to Revenue increasing the same year. Lastly, AMN’s EBITDA has increased to positive figure in 2011 from 2009, which is a significant improvement as AMN has been able to bring its operating income to positive figures. Now it will have to cut on its operating expenses to generate a positive net

The Indian Construction Industry Construction Essay

The Indian Construction Industry Construction Essay Abstract The project mainly depends on the health and safety issues in India and UK construction industry. The Construction industry contributes most of the countrys economy for both UK and India. At the same time the issues related to health and safety is increasing in both the countries. The measures taken on workers safety are insufficient even though workers play a major role in all construction projects. This dissertation mainly focuses on the health and safety of the workers involved in construction projects. During this process the researcher has well understood about the construction industry and has collected background information about the UK construction and Indian construction industry in order to make a sufficient development in the construction industry. In this process the researcher has compared the health and safety issues of the UK and Indian construction industry. For this research, the researcher has used the secondary data research, since the methodology is genuine and it was arduous task to gather materials through books, journals and articles. Chapter I INTRODUCTION 1.1 Introduction Construction industry provides employment for around 180 million people and contributes 7% of global employment. The industry is tarnished for its reputation as Dirty, Difficulty and Dangerous the three Ds (Murie, 2007, pp. 5 7). According to International labour organization, the industry which accounts 7% of the global employment is responsible for 30 to 40 percent of worlds fatal injuries. The Construction industry is not a homogeneous sector due to its nature of work involved. It is composed of various competitive firms; the majority is who brought together for one, bespoke project before transferring to other projects. Construction industrys characteristics are in controversial behaviour, lack of co-ordination, lack of customer focus, deprived co-ordination and lack of investment in research and development. In most of the building projects clients raise their demands and cut down the initial capital and ongoing operational and maintenance costs set against an already competitive industry. Construction organisations are under pressure to develop or implement innovative technologies and practices in order to satisfy their demands (sexton et al, 2005). Construction industry has a poor reputation for lack of innovation, and for being slow to adopt new technologies. Occurrence of large number of fatal accidents and poor health and safety concern of the labourers is the main drawback of construction industry. As per International Labour Organization (ILO), in construction industry the rate of fatal accidents is 60,000 per year. Also about 30% of labourers are affected by health problems such as musculoskeletal disorders, back pains and other bone related health issues. All the construction industries are temporary in nature. In most of the projects the progress is delayed mainly due to human errors, which results in contract penalties. The employees of construction industry have a great value at all levels, in particular the construction site managers and the foremen as they have the main responsibility to maintain health and safety in the construction sites. It is very important to be updated with regards to the new legislations and recent developments (Hughes and Ferret, 2008). The main concern over number of years of health and safety issues in construction industry particularly in 2006/2007 when there was a rapid increase of 28% in construction fatalities. The legal health and safety requirements for all places are of numerous and complex. (Hughes and Ferret, 2008). 1.2 Background of the study India is the second fastest growing economy of the world at present. India has recorded one of the highest growth rates in the 1990s (P.R. Swarup. 2006-07).Construction industry in India is the second largest industry. The construction industry employs around 17.62 million worker shall comprise 55% of the unskilled, 27% skilled labour and rest consists of support and technical staff (Kulkarni, 2007). Even though there is a great increase work force, the industry remained labour intensive due to financial constraints often employs hazardous technology and relatively inexpensive this is particularly true for unorganized small scale sectors (Brindha, 2005) The construction projects often face complex situations due to bad weather conditions. Most of the workers in this industry are drawn from low income groups who face predictable occupational injuries and illness. The construction workers die from work related trauma at a rate three times higher and suffer from dermatologic conditions, hearing loss, musculoskeletal, and lung diseases when compare to workers from other industries. In particular, the national cost from lost production, worker compensation and medical care and other related claims remains very high, which contributed cost $7billion annually (NIH, 1993). In India, there are no authentic data in respect of the accident rates, and the prevention and causes taken by the industry. However, one study reported 165 per 1000 workers get injured during construction activities. This is very high compared to the rates in the developed countries and even certain developing countries (Damodaran, 2006). In India, the construction industry is regulated by the following acts. The Building and Other Construction Workers (Regulations of Employment and Conduct of Service) Act, 1996. The Building and Other Construction Workers Cess Act, 1996, The Contract Labour Act, 1970. The Inter-State Migrant Labourers of Employment Conditions of Service Act, 1979. Construction workers do not get benefit under the Employees State Insurance Act 1948, but are covered by the Workman Compensation Act, 1923 (Parveen Patil, 2009). The Britains Construction Industry is said to be one of the safest in Europe, and industry is in a period of strong growth with the infrastructure and constructive sectors. The UK construction sector output is the second largest in Europe and contributes about 8.2% of the nations Gross Value Added and 8% of Gross Domestic Product and construction outputs of  £102.4 billion at current percent. The UK construction industry employs more than 2 million people, this is because the mature of work they do have a high incidence of occupational health (Health and Safety, 2011). The Construction industry provides an essential material for homes, schools, hospitals, industries, roads and railways etc. In UK, the laws are strict which encourages the workers to eliminate the accidents. In addition, the preference for health and safety is much higher in UK, than the many other countries and also provide regular Health and Safety training for site supervisors and project engineers. 1.3 Statement of the problem Most of the construction projects are often results in cost delay in completion, due to the fatalities involved in the construction site. The construction workers The construction workers are more prone to accidents, thus the industry is considered as one of the most hazardous industrial sectors. In India, the report from International Labour Organization (ILO, 2009) revealed that every year nearly 50,000 Indian die from illness or work related accidents and in particular construction activities, on an average, 165 workers are injured. However, these figures are higher than UK (Tony Baxendale et al, 2000). In developed countries like United Kingdom, there is strict legal enforcement of safety in the construction industry and also in the implementation of safety management systems which are designed to minimize or eliminate accidents at work place. Safety and health in the Indian construction industry has lagged behind most other industries as evidenced by its disproportional high rate of accidents. There are annual at least 60,000 fatal accidents on construction sites around the world, according to an ILO report published for World Day for saf ety and Health at Work, 2005