Monopolistic Competition versus Monopoly Essay Example | Topics and Well Written Essays - 1500 words

Monopolistic Competition versus Monopoly - Essay Example Monopolistic competition is comprised of a group of producers with identical products. The competition between the producers is not determined by the prices of the goods they supply but rather by how differentiated their products are (Salvatore, 2006, p.238). In this kind of competition the producers that are involved take the price that the rival producer is charging and use it on his own product not considering the consequences of the price. The scenario is different in a monopoly. Here, a single firm is the sole supplier of a given product as is the case when Wonks bought up the individual competitors and joined them to make up a single firm. The main characteristic of a monopoly is that the producer has a higher market share than that which is expected within a perfect competition. Another characteristic of the monopoly set up is the lack of substitute products in the market denying the consumers a choice. In this paper, we are going to analyze the consequences of a monopolistic competition being transformed into a monopoly. The hypothesis developed is; analyzing the effect that transforming a group of companies in a monopolistic competition into a monopoly will have on consumers, government and the company. Discussion In order to better understand the transformation, a closer look at the characteristics of both a monopolistic competition and a monopoly is required. In so doing, one can then draw parallels and differences that arise. In a monopolistically competitive market, a firm acts as a monopoly does in the short run, however in the long run, the market resembles a perfect competition since there is entry by more competitors and the gains accrued by having highly differentiated products diminish as does the possibility of the producers gaining economic profits. Consumers are very aware about the qualities of the products that the rivals offer since the differences are not evidenced by price. This model therefore is characterized by well informed custom ers and the producers rely on brand uniqueness to trigger a brand loyalty in consumers. In this model, there is no barrier to entry or exit. The model can thus be attractive to a large number of producers with identical products as there are no rules against entry. Likewise, there are no rules that may hinder a producer exiting the market when it is no longer attractive. Lastly, producers exercise a certain degree of control over the prices they charge. Although the control they have is limited, a producer can decide to price his products differently from the market price. The government can usually intervene in a monopoly in order to accomplish a determined goal or simply to cushion the consumers against extortion. Otherwise, when a monopoly is not coerced to perform in a certain way, the most typical goal is to maximize profits. The producer accomplishes this by producing few goods and charging them at a high price. The producer is thus a price maker in contrast to one in a monopo listic competition Monopolies often have barriers to entry where other sellers find it extremely hard to enter the market (Burkett, 2006, p. 155). This may be due to the structure adopted by the monopoly that discourages competition or may be sanctioned by the government. The major characteristic of a monopoly, however, is the fact that only a single producer is present in the given market. Here, it is assumed that

The benefits and negatives of hiring temporary workers Essay

The benefits and negatives of hiring temporary workers - Essay Example In this study, several items will be considered while analyzing the cost effectiveness of temporary workers. First, an overall analysis of the benefits as well as the drawbacks of temporary workers will be presented in comparison to the hiring of full-time employees. The presentation of this analysis will demonstrate that hiring temporary workers is, in fact, more beneficial for companies when trying to cut costs. Temporary workers allow for companies to adapt to fluctuating markets, and give them some control in an economy that has not provided much earning incentive. In order to resolve this and to adapt to changing times, temporary workers can be hired and maintained by companies for as long as needed. Skilled contingent workers are included in this study. While skilled contingent workers are often paid more than other temporary workers, and often more than full time workers as well, their use still allows the company to save money. This is because they are usually brought on for short term projects, and then released when the projects are completed. The large salaries or hourly wages earned by skilled contingent workers thus will end, and the company can return to normal expenditure. There would therefore be no need to bring on another full-time employee to handle certain skilled situations that are needed for specific periods of time only, and this has helped to keep costs down for many companies. This study examined three companies throughout a one year, four quarter period. Costs were analyzed and determined as the companies transitioned into using more and more contingent workers. The results of this study demonstrate that companies achieved cost-cutting results that increased every quarter for each company that participated in the study. Therefore, this study helps to prove that temporary workers, whether skilled or not, can be used to help cut the costs of company finances. Results Who are the Temporary Workers Just as employer demand for temporary workers increases during times of uncertainty, many workers seek temporary employment due to transitory or uncertain circumstances. Such workers might include teachers and students out of school for the summer or other vacation periods, or persons entering or leaving the labor force gradually. Women and young persons are more likely than others to experience these transitory conditions. Therefore, it should not be surprising that there was a disproportionately high concentration of both groups employed by temporary help supply agencies in May 1985. Almost two-thirds of the industry's work force were women, in contrast to their 2 of 5 proportion of all wage and salary jobs. This difference clearly reflects the benefits offered to many women by the temporary help supply service industry, particularly the combination of flexible work schedules and the opportunity to acquire needed experience and job market exposure. In addition, the industry has a large number of administrative support jobs, and a disproportionate number of women are traditionally employed in such clerical positions.Women with family responsibilities are particularly attracted to temporary employment because it provides the flexible work schedules that allow them to reconcile work outside the home with family commitments. Women who reenter the labor force after a long absence may prefer temporary jobs until they are able to find suitable permanent employment. Employment through a temporary help supply agency enables them to test the market by sampling a range of work environments until they find the right employment situation. At the same time, temporary employment allows these workers to acquire needed skills and experience while building confidence and increasing their

Curriculum questions Coursework Example | Topics and Well Written Essays - 750 words

Curriculum questions - Coursework Example According to the chosen standards documents, the analysis process is highly focused on few major aspects including curriculum documentation process, situation resulted in the development phase primary purposes and organizing process of the contents, implementation process of the curriculum and evaluation of the learning outcomes, and identifying strengths and limitations of the curriculum (Parkway Central Middle School, 2013). The limitations that have been recognized in the curriculum documentation process are the inability to define the key roles and significance of the curriculum critically along with its transaction. Moreover, problems associated with exploring syllabuses and their association with the ESOL standards is observed as a major limitation of the curriculum analysis (Posner, 1995). During the development phase of the curriculum, the project team is involved in various situations. In this regard, the superintendent makes the curriculum development project. The superintendent is accountable for generating effective set of cast characters associated with the curriculum standards and accordingly, supervise their roles. Few of the major cast characters associated with the development phase of the curriculum include Assistant Superintendent of Teaching and Learning; Assistant Superintendent of Student Services; Human Resources Consultant; Chief, Communication, Information and Financial Officers. The key cast characters in the curriculum development project are affiliated with the curriculum standards in English for Speakers of Other Languages (ESOL). According to the curriculum development project for 6-8 grade, the Assistant Superintendents of both teaching and student services are responsible to identify the required set of curriculum activities that can address t he needs of the first grade learners. Moreover, they are also accountable to

Hispanic Diversity Essay Example | Topics and Well Written Essays - 750 words

Hispanic Diversity - Essay Example Diverse workforce acts as a competitive advantage to the companies. To a large extent organizational performance depends on handling its diversity issues. For selling products and services companies needs to handle many diversity issues because of their wide range of diverse customers. Organizations need to know diverse language, cultures, customers etc for fulfilling the needs and requirements of their customers and employees. This facilitates the company in achieving their goals and objectives (Jose 141). When a company understands the diverse needs, expectations and requirements of its organizational members and customer then it can enhance its business process and services which facilitates the firm in improving its performance and holding its place in the competitive global market. People of different cultures and countries are presently residing in U.S. Spanish people are presently dominating the U.S market. Business people, students, serviceman etc reside in U.S. Other than Spanish, people from another country like China, Latin America etc reside in the U.S. the basic differences among these people are in their culture, customs, habits etc. Hispanic people have covered the maximum part of U.S market. Hispanic people are very much associated with their family, unlike the present American people. The Spanish and Latinos people take care of their parents when they grow old. But the people of other cultures residing in America are very much concerned about themselves. American society believes in individualism but Hispanic people believe in collectivism. People of different income level stay in the U.S which enhances the socioeconomic differences in this state (Maffi 140). The market and workplaces of U.S are characterized with all of these differences for which companies operating in U.S market are trying to manage diversity issues.

The smartest guys in the room(movie&book) essay

The smartest guys in the room(movie&book) - Essay Example Another form of malpractice that the company participated in is loaning money to itself in order to conceal debts. They also manipulated California’s’ energy supply using its electricity market. The movie elaborates how thousands of Enron employees lost their job in the scandal albeit their loyalty, while their bosses maintained their wealth. In reality, this movie is a criminal documentary that reveals how the executives of Enron, which was America’s seventh largest company, participated in a pansy scheme and got away. Their investors and employees succumbed to great losses while they walked away with billions of dollars (Sterling 22). An ethical consideration is the rights and duties of an entity to its employees, customers and their fiduciary responsibility towards their investors. These considerations assist in maintaining the integrity of a profession by setting out standards. Professionals found in violation of ethical responsibility are subject to sanctions, withdrawal of licenses and charges by law. It is unfortunate that the pioneers of the pansy scheme involving Enron walked away scot free with billions of dollars while their employees and investors made huge losses. The underlying principle in ethics is choosing the right irrespective of the foreseen or unforeseen consequence. Ultimately, unconditional responsibility that surpasses belief and interest is essential for harmony in human interactions. After watching this film, it important to recognize that community support does not determine ethical standing. A company may donate or fund other projects generously but the behaviors that take place behind t he scenes are the most crucial. Enron was the leading financier of George W. Bush 2000 election campaign but they had many hidden issues (Sterling 63). I believe that justice was served in the Enron scandal. The executives associated with the issue faced

Apache Metals, Inc. Case Study Essay Example | Topics and Well Written Essays - 1500 words

Apache Metals, Inc. Case Study - Essay Example The fact that project managers can come from anywhere within the company is causing the problems experience in the company. Not everyone can act as a project manager because the work is technical and it requires special skills for a company to achieve excellence (Heerkens, 2007). The assigned project leaders in this company take care of too many projects at the same time, which causes inconveniences for the firm. It is not possible for a project leader to deal with as many as ten orders because each order requires considerable amount of time to be accomplished effectively. The company at one time appointed trainees to oversee the running of the operations leading to poor results. Financiers analyze projects and their management to determine the need to offer funding for the company. Therefore, it is important that directors of Apache Metals concentrate on project management to receive the funding. Literature and research review Apache Metals seems has been failing on its project mana gement and it is only after failing miserably that the company began to take keen interest on project management. Project management involves planning, organizing, and managing resources in the most effective and efficient manner to achieve stated goals for the company (Lock, 2007). A company’s board of directors is involved in determining the best people that can execute the project and appointing the project managers. Successful project managers should ensure that they manage resources, time, scope, and the finance of the project efficiently (Lock, 2007). These elements are essential in ensuring the company gets funds other projects and renewed contracts because of good management of the above elements. The scope of the project involves the objectives of the project and the budget in terms of money and time for achieving the stated objectives (Rosen, 2004). Not every person in the company can be a project leader because of the skills required in the job. A project manager s hould have the right people and communication skills in order to achieve the stated goals effectively. The board of directors should scrutinize the existing personnel thoroughly in order to recruit the required people in the project management team (Rosen, 2004). A project is often a short endeavor and thus mistakes are unacceptable because they can ruin the image of the rest of the company. Project managers have a vision and their aim is to share the vision with other members executing the project. The company can improve the effectiveness of these project leaders through providing formal training for them and their members. In addition to training project managers, they also need to be at the center of the organization’s concern. Project managers have a greater task of defining the project and executing it and hence they require support from the entire organization to accomplish their goals (Rosen, 2004). Project managers need to have expertise and experience in the field a nd thus, junior trainees cannot work effectively as project leaders. Project managers need team building and problem solving skills in order to execute the project effectively. Thus, to achieve funding for other projects, directors should ensure they have a working project team in place. Analysis The board of directors of the company is responsible for electing the senior

Incident Essay Example | Topics and Well Written Essays - 250 words

Incident - Essay Example In this experience the poet smiles at another boy when their eyes meet. In response the boy insults the poet and regards him as nigger. The author states that out of all his memories of Baltimore, this incident always remained in his memory. The poem is one of the best poems that I have come across regarding the issue of racism in United States. This poem reinstates the idea that racism is deeply embedded amongst every individual. This is because all individuals are brought up to be racist. This poem helps in identifying the main cause of racism which is the values that a child receives from his/her parents. The poem titled as Incident has been authored by Countee Cullen and in this poem the poet focuses on an event of racism that he experienced in the region of Baltimore. The poet states that one of the main causes of racism in America is the values that are transferred by parents to their children and children become racist at a very tender