Saturday, August 31, 2019

A Christmas Carol as an Allegory

A Christmas Carol as an allegory is a simple concept to grasp knowing the definition of allegory. An allegory is a story, poem, or picture that can be interpreted to reveal a hidden meaning, typically a moral or political one. The way Dickens was able to slip subtle messages into various character's persona is amazing. Using the mankinds children Ignorance and Want, the cheerful Fred, the infamous Scrooge, and many other characters, Dickens is able to create an allegorical masterpiece that delivers his message in a holiday-based setting— the perfect time to influence the masses.Ignorance and Want are, as referenced above, the metaphorical children of mankind. Dickens brings two traits that man will inherit to life; the affluent's incognizance and the poor's want. They are what has filtered down through generations, unchanged due to the negligence of the wealthy. The children's condition shocks Scrooge, he actually asks the Ghost of Christmas Present if the children happen to b e his to which the spirit replies, â€Å"‘They are Man's,' †¦ ‘And they cling to me, appealing from their fathers. This boy is Ignorance. This girl is Want.Beware them both, and all of their degree, but most of all beware this boy, for on his brow I see that written which is Doom, unless the writing be erased. Deny it!' †¦ ‘Slander those who tell it ye! Admit it for your factious purposes, and make it worse! And bide the end!'† This quote is an obvious depiction of a simplistic yet meanful message, the wealthy must change their ways for societies betterment.Not an upperclassmen, Fred is a representation of the middle class man who is not ignorant to the troubles of the poor and embraces the Christmas spirit. He is very similar to another – barely mentioned – character, Scrooge's old boss Fezziwig. The bring joy to their employees with a simple gesture, an invitation to a Christmas party. This shows that despite Fred is not a rich man he is still able to bring joy to his workers, dashing the concept that money brings happiness.Dickens uses Fred as a foil to Scrooge to display differences through both attitude and action. Fred's presence lightens the atmospere during the arguement between them and the fact that the ‘Man of Christmas Cheer' tops Scrooge in the squabble furthers his point. Through a well written novella Dickens delivers his message, that the wealthy must change, time and time again.Moving on to Mr. Ba-humbug himself, Scrooge is pictured as a parsimonious man even after he's changed. Scrooge symbolizes the wealthy, aristocratic society members who are ignorant to the poors suffering. Dickens goes far as humanly possibly to show how unforgiving Scrooge is towards the lower class, one quote says that Scrooge is so cold that, â€Å"No warmth could warm his soul.†Through a wordy tongue-lashing he gave to the men who asked for a donation for the poor Scrooge further shows his uncaring attitud e. Through his tirade he shows how truly ignorant and neglectful he, and the class he represents, is towards the poverty-stricken. Using such a detestable character gives Dickens the ability to call for a change of moral in the wealthy, thus putting a cherry on top of the allegorical sundae.Allegories have been written, read, forgotten, and remembered throughout the course of history but none such like A Christmas Carol. A strong moral message, simplistic with a deep impact, this novella embodies the meaning of allegory. By using well constructed characters and inlaid messages Dickens has thoroughly, and effectively, delivered a message to the masses.

Friday, August 30, 2019

Indian Dairy Industry- Swot

Indian Dairy Sector- Overview & SWOT Posted by  admin  on Tuesday, July 31, 2012  ·Ã‚  Leave a Comment   inShare | Import of key items on the increase to meet shortage| Import of dairy items during April 2009-February 2010 surged by a massive 275. 5 per cent to Rs 284. 88 crore. | | In April 2008-February 2009, import of milk and other dairy products was only Rs 75. 86 crore. | The dairy products imports mainly comprise skimmed milk powder and butter oil brought in by the National Dairy Development Board (NDDB)  to meet shortfall  in milk procurement of its subsidiary, Mother Dairy, and other co-operatives.With their procurement lagging behind, liquid milk supplies have been affected in many States. B L 180510| SWOT ANALYSIS OF INDIAN DAIRY INDUSTRY| Strengths:| * Demand profile: Absolutely optimistic. | * Margins: Quite reasonable, even on packed liquid milk. | * Flexibility of product mix: Tremendous. With balancing equipment, you can keep on adding to your product line . | * Availability of raw material: Abundant. Presently, more than 80 per cent of milk produced is flowing into the unorganized sector, which requires proper channelization. * Technical manpower: Professionally-trained, technical human resource pool, built over last 30 years. | Weaknesses:| * Perishability: Pasteurization has overcome this weakness partially. UHT gives milk long life. Surely, many new processes will follow to improve milk quality and extend its shelf life. | Lack of control over yield: Theoretically, there is little control over milk yield. However, increased awareness of developments like embryo transplant, artificial insemination and properly managed animal husbandry practices, coupled with higher income to rural milk producers should automatically lead to improvement in milk yields. Logistics of procurement: Woes of bad roads and inadequate transportation facility make milk procurement problematic. But with the overall economic improvement in India, these problem s would also get solved. | Problematic distribution: Yes, all is not well with distribution. But then if ice creams can be sold virtually at every nook and corner, why can’t we sell other dairy products too? Moreover, it is only a matter of time before we see the emergence of a cold chain linking the producer to the refrigerator at the consumer’s home! Competition: With so many newcomers entering this industry, competition is becoming tougher day by day. But then competition has to be faced as a ground reality. The market is large enough for many to carve out their niche. | Opportunities:| â€Å"Failure is never final, and success never ending†. Dr Kurien bears out this statement perfectly. He entered the industry when there were only threats. He met failure head-on, and now he clearly is an example of ‘never ending success’!If dairy  entrepreneurs  are looking for opportunities in India, the following areas must be tapped:| * Value addition: Th ere is a phenomenal scope for innovations in product development, packaging and presentation. Given below are potential areas of value addition:| * Steps should be taken to introduce value-added products like shrikhand, ice creams, paneer, khoa, flavored milk, dairy sweets, etc. This will lead to a greater presence and flexibility in the market place along with opportunities in the field of brand building. * Addition of cultured products like yoghurt and cheese lend further strength – both in terms of utilization of resources and presence in the market place. | A lateral view opens up opportunities in milk proteins through casein, caseinates and other dietary proteins, further opening up export opportunities. | Yet another aspect can be the addition of infant foods, geriatric foods and nutritionals. | Export potential: Efforts to exploit export potential are already on. Amul is exporting to Bangladesh, Sri Lanka, Nigeria, and the Middle East.Following the new GATT treaty, opp ortunities will increase tremendously for the export of agri-products in general and dairy products in particular. | Threats:| Milk vendors, the un-organized sector: Today milk vendors are occupying the pride of place in the industry. Organized dissemination of information about the harm that they are doing to producers and consumers should see a steady decline in their importance. | The study of this SWOT analysis shows that the ‘strengths’ and ‘opportunities’ far outweigh ‘weaknesses’ and ‘threats’.Strengths and opportunities are fundamental and weaknesses and threats are transitory. Any investment idea can do well only when you have three essential ingredients: entrepreneurship (the ability to take risks), innovative approach (in product lines and marketing) and values (of quality/ethics). | The Indian dairy industry, following its delicensing, has been attracting a large number of entrepreneurs. Their success in dairying depend s on factors such as an efficient yet economical procurement network, hygienic and cost-effective processing facilities and innovativeness in the market place. |

Thursday, August 29, 2019

Market Structure Essay Example | Topics and Well Written Essays - 2500 words

Market Structure - Essay Example Simultaneously, economics can be defined as a way of thinking. In the present day context, business units get largely impacted by the market structure of the place or a particular nation as business performance is directly dependent on how the economy behaves in the long run. Notably, on the basis of economic situations and other features, market structure of a place is divided into several forms including perfect competition, monopolistic competition and oligopoly and each one of them has their own characteristics or features. Business units have the need to analyze these particular features to ensure the accomplishment of their business targets (Baumol & Blinder, 2011; Hubbard, 2007). In this proposed discussion, the main aim will be to describe various market structures including perfect competition, monopolistic competition, oligopoly, and monopoly along with identifying a few of the characteristics of each of the market structures. Additionally, the paper will discuss the way in which high entry barriers into the market can influence long-run profitability of a firm. The paper will also discuss price elasticity of demand of each of the market structures and its impact on pricing of products to get a more comprehensive understanding about the same. Perfect competition describes such market conditions, where a large number of sellers are involved in business activities and also the sellers are dealing with homogeneous products. Notably, in this sort of market structure, none of the players are big or large enough to capture the entire market by their operations. In such market scenarios, each of the players in the market is competent enough to ensure perfect competition for others in the same market which further augments the level of competition in the market. This sort of market structure provides utmost opportunities for business units to perform in an effective manner; otherwise they might perish while attaining long-term sustainability (Baumol

Wednesday, August 28, 2019

Porters Force for Competitive Advantage Essay Example | Topics and Well Written Essays - 3250 words - 7

Porters Force for Competitive Advantage - Essay Example A comparative analysis of the systems followed by businesses of various economies to gain edge is evaluated from Porter’s competitive advantage view. Â  The model’s approach to identify the cluster of small industries where their competence has a direct correlation with the performance of other businesses in the same economy, along with other factors, adds value chain to the process. The advantages can be from consumer-business relationship or local market context, giving it an edge over similar businesses in offshore markets. The various elements of the model is as in the figure below, that shows the business elements and suggests the underlying factors boosting the affectivity of the competence. Further, Rugman and Verbeke (1993) suggested that the factors affecting the competence are related with each other and existing market environment. The four distinct determinants of the model have great influence on the strengths of the business located therein. The vertical relationships of buyers’ intelligence and suppliers are correlated horizontally with technology, skills, distribution challenge etc. The use of the model in the process gives the overview of the industry in terms of competition in the industry. Pressman (1991) observed that the respective Government identifies these clusters to support and promote them as a source of economic growth. Factor Conditions: The position of a business as production capacity, skill manpower availability, infrastructure, legal frameworks etc aided by the government agencies determines the factor conditions. The conditions would determine the performance and ease of doing business in a particular economy.

Tuesday, August 27, 2019

Analize the Dynacorp case throught political lenses Essay

Analize the Dynacorp case throught political lenses - Essay Example Conclusion/Tying It All Together 12 References 14 I. Overview- Analysis of the Dynacorp Case Using the Political Lens The end result in terms of organizational design in the case of Dynacorp, as reflected in the case details, is one where the organization has agreed to transition from a functional organization to a front/back design, with the greatest impact being seen in the marketing organization, which has transitioned into three customer operations arenas or groups, representing the US, Latin America/Europe, and the United States. The case, moreover, focuses on the reorganization at the US Customer Operations Group, and the massive sets of issues and challenges that have come with such a reorganization. The focus of this paper is on this transition to the front/back organizational design and on the changes in the US Customer Operations group, where Carl Greystone is the External Vice President and head of the group. The essence of the changes in the US Customer Operations group i s the transition into customer teams that act as consultant teams to companies, in place of old sales teams that focused on getting the sale rather than giving the customers exactly what they want and offering the requisite support to get the job done, including consulting support on systems integration and a focus on finding solutions to problems. As Mr. Greystone notes, the essence of this transition is finding and addressing customer needs: â€Å"Customer teams now function as consultants by helping the customers identify their needs and providing high-quality products, integrated solutions, and customized services to fit those needs† (Ancona et al., 2009, pp. M2-85- M2-88). As discussed in the book, the political lens sees the organization in terms of conflicts of interests, power, and goals among individuals and groups within the organization, and the way to understand the dynamics of political conflict is to understand who has power, where that power comes from, the bas is of the power and how much power the different parties in the organization have. As the discussion notes: â€Å"In the political perspective, the roots of conflict lie in different and competing interests, and disagreements require political action, including negotiation, coalition building, and the exercise of power and influence.† The key concerns of players in the political perspective of the organization revolve around who defines the problems and the agenda, and where they get the power to do so; who the parties advocating solutions are, and why they are advocating such solutions; how a particular group is to procure an outcome or outcomes that are favorable to its own interests (Ancona et al., 2009, p. M2-33). The paper follows the different prescribed analytical steps for the political lens, from mapping and understanding the interests and power of stakeholders through mapping, to procuring buy-in, to coalition-building and the search for allies. The paper also defin es key terms related to the political lens as it goes through the prescribed analytical steps (Ancona et al., 2009. pp. M2-28- M2-58; M2-85 - M2-90). II. Stakeholder Power, Interests Mapping A. Identification, Mapping of Stakeholders, Most Important Stakeholder Interests. Identification of Underlying Interests Driving Interests That Are Stated Explicitly Interests and power are the two defining considerations in the political lens of the organization. Interests refer to the interests of stakeholders in an organization and what those

Monday, August 26, 2019

Analyzing the key elements of the nature-nurture controversy Essay

Analyzing the key elements of the nature-nurture controversy - Essay Example These factors involve various dimensions including physical environments such as prenatal nutrition, social environments such as the media among others. The nature versus nurture debate is an argument concerned with the innate qualities of an individual versus the personal experiences used to determine or create differences in individuals, in their behavioral and physical traits. Psychologically, nativism has the implication that some skills or abilities are usually hard wired in a person’s brain at the time of birth. On the other hand, Empiricism or behaviorism implies that theoretical knowledge that state categorically that an individual’s knowledge can only come through sensory experience. In this regard, certain scientific researchers have indicated that children become the product of the environments that they live in, or they acquire knowledge to do the things they do by nurturing. Others argue that, people behave in certain ways through hereditary and this consti tute to nature. Most theorists are also in an agreement that, nature and nurture are both intertwined, and they have an influence in most human aspects such as emotion, cognition among others. The questions behind the human development as well as the factors that influence it have taken central importance in psychology ever since the beginning of the discipline. The argument that human development comprises of these two factors has been argued for a long time by both philosophers and psychologists. Revolutionary ideas that came in the nineteenth century and their upheavals such as industrialization, Darwinism, and the abolition of slavery created an incitement to the conflicting interpretations that existed about the world and human life. In straightening out the effects of environment and genes to individual, behavioral geneticists usually perform the twin and adoption studies. Such studies aim at decomposing the variance that exists in a population into environmental and genetic c omponents. By the use of the comparison of the correlation in an exceptional dimension like the intelligence test (IQ) scores in identical twins and the fraternal twins, it possible for researchers to theoretically work out the comparative influences of both nature and nurture on this particular dimension. Sandra Scarr, for example, reported a correlation for the IQ test scores for identical twins of 0.86 and for the fraternal twins of 0.55 she indicated that, identical twins had scores that are close to one another as compared to those of the fraternal twins. This is an indication of hereditary. Contrary, where the IQ scores are 100 percent determined genetically, the identical twins’ correlation would be 1.00 according to this example, heredity seems to have a significant role. This does not mean that it is certainly the determinants in IQ tests. Researchers also do monitor concordance rates, in addition to the heritability estimates. Concordance rates are the ones at which the development of a characteristic occurs in both twins (Novel guide, 2011). In this study, the lack or availability of a specific mental condition is usually considered being an excellent example. Under situations that both twins showed some clinical depression in all pairs that were examined in the study, this would give a concordance rate of 100 percent in such a case. Contrary, if, in every pair, there was one individual who had the clinical depress

Sunday, August 25, 2019

Marketing Research Paper Example | Topics and Well Written Essays - 250 words - 3

Marketing - Research Paper Example But notably high withholding tax rate barriers imposed on distributions in excess of previously tax profit, that is $28 million in Uruguay (Gilson, p. 66-72). Interest ranging at $8.3 million in Brazil, at $15.3 million in Uruguay, $12 million in Chile and $11.6 in Peru; with specially reduced withholding tax rates on interest paid to financial institutions ranging at $4.4 million in Chile, $15.05 million in Uruguay, $5.9 million in Peru and at $19.7 million in Brazil The total gas sales in 2013 ranged at $ 263 million in Chile which accounts for 37% of the total sales in that year. Sales for lubricant oil was at $162 million, accounting for 16% of the sales. (Eicke, p. 16-25). In Peru, the company made gas sales worth $106 million, which accounts for 51% the sales it made in the three countries. The sales for lubricant oil were at $102 million, accounting for 24% of the sales (Jurich, p.

Saturday, August 24, 2019

Analysis Of The Play Streetcar Named Desire Essay

Analysis Of The Play Streetcar Named Desire - Essay Example The play discusses how Blanche’s life was full of menaces. She had just been sacked from work and realized that her husband was a homosexual. Later on, in the play, Stanley raped Blanche, and this resulted in a nervous breakdown. The character of Blanche is based on Williams’ sister, Rose Williams, who had mental health issues (Williams 9). The main characters of the play are Blanche DuBois, Stella Kowalski, Stanley Kowalski, Harold â€Å"Mitch† Mitchell, and Eunice. Blanche DuBois is Stella’s older sister (Williams 3). DuBois was a high school English teacher. She is a fragile and loquacious woman around the age of 30. After the death of Reve and Belle, the DuBois family, Blanche goes to New Orleans to the Kowalski apartment and reveals that she is totally destitute. Stella Kowalski, on the other hand, is Blanche’s younger sister around the age of 25 (Williams 4). Stella has the same timeworn titled heritage as her sister DuBois. Stella is more poised with self-beauty and considers aging a curse (Williams 15). Stanley Kowalski is Stella’s husband. He is the epitome of a significant force. Stanley is loyal to his friends, adores his wife, and is cruel to Blanche. Harold Mitchell is Stanley’s army friend and poker buddy. Mitchell courted Blanche until he discovered she had lied about he r past, which made him leave. Finally, Eunice is Stella’s friend and also landlady. Eunice represents the lower class. A key theme that is dominant in the play is the relationship between sex and death. Blanche’s fear of death portrays itself in her fears of lost beauty and aging skin (Williams 12). Blanche refuses to appear in the harsh light, which reveals her real looks, and to tell anybody her true age. She appears to believe that through asserting her sexuality, particularly to men, she might be able to overcome death and revisit the  teenage life which she experienced before her husband’s suicide. According to Blanche, sex is the cause of death. Throughout the play, Blanche has memories of her ancestors who passed away due to the act (Williams 12).

Disintermediation in Tourism Essay Example | Topics and Well Written Essays - 1000 words - 1

Disintermediation in Tourism - Essay Example The impacts of disintermediation are various. It has impacted the travel and tourism industry significantly. The supply chain of travel and tourism industry involves tour operators, travel agencies, travel agents and others. Traditionally prospects and people have been depended on these mediators largely for their information and booking needs. Development of web technologies helped the service providers in travel and tourism industry such as airlines, car rentals, hotels and others to offer their services and information through their website. In the image below (Image 1) of WTO 2001 report on E-Business for Tourism, it clearly presents the number of intermediaries which are replaced by the Internet. However, it is evident that these intermediaries co-exist with the internet even in the countries where the internet users are high in number. The use and growth of website services depend on the number of factors like number of internet users, technological platforms available and many others. There are various reasons of disintermediation in the tourism industry. The primary reason is the development of technological platforms offering alternates to the traditional intermediates. The other reason is the cost reductions due to the removal of intermediates. The Internet offers a platform where tickets can not only be booked online but various tourism packages can be customized more effectively than the traditional methods. It makes the marketplace highly competitive as information available to the consumers as well as the options available to them is numerous. More destination choices, there detailed information including videos and availability of an interactive platform such as internet benefits the customer groups. The service providers are able to offer services at the lower cost as the commissions and charges involved for the intermediates are reduced.

Friday, August 23, 2019

Show how issues of social class are important in at least two of the Essay

Show how issues of social class are important in at least two of the works studied - Essay Example In all work, low social position of the main characters prevents them to achieve appreciation and recognition they deserve. The novel Heart of Darkness (1900) is one of the most unique and outstanding works based on philosophical and psychological interpretations, historical and sociological issues. Until the actual military conquest of most of Africa by Europeans, the continents populations, except in regions significantly influenced by intruders from Asia, were largely left free to shape their own individual paths of development. This novel describes the controls the means of production and hence the sale and distribution of products, the capitalist returns less to the workers than what the worker actually produces. This is called exploitation, and the rate at which the capitalists extract surplus from the labor of their workers is called the rate of exploitation. Marx expressed this as the rate of exploitation: surplus/variable capital. This means getting more out of the productive process for the same or lower costs. It means workers will have to produce more without receiving a commensurate increase in wages, that is, an increase in the rate of exploitation. â€Å"The vision seemed to enter the house with me - the stretcher, the phantom-bearers, the wild crowd of obedient worshippers, the gloom of the forests,†¦ the beat of the drum, regular and muffled like the beating of a heart - the heart of a conquering darkness† (Conrad). In the play, Amadeus P. Shaffer describes the impact of social class on a genuine and inability to resists social principles and values. The play concentrates on personal relations between Wolfgang Amadeus Mozart and Antonio Salieri and their rivalry. This play portrays that a unique talent of a person and his genius means nothing fo society which values high social position and wealth. First, this play helps legitimate prevailing class and status

Thursday, August 22, 2019

Compare how death is presented in three poems in the Anthology Essay Example for Free

Compare how death is presented in three poems in the Anthology Essay The three poems Remember by Christina Rossetti, Plena Timoris by Thomas Hardy and Refugee Mother and Child by Chinua Achebe all portray death in different ways. Rossetti explores the acceptance of death, whereas, in Refugee Mother and Child we see the unwavering love the mother has for the child. In the poem Plena Timoris the persona recalls how love can be so extreme that could lead to despair and death. What I found intriguing about these poems was how love could be both a dangerous and positive force towards the subject of death. Love could drive a person to their grave but also love could be the will for a person to stay strong and never giving up. Christina Rossetti a devote Anglican to whom church and family were paramount. It is known that two marriage proposals which did not live up to her religious fervour therefore she turned them down. Because of her religion Rossetti appears to have been obsessed with her own pending death in this poem. Her belief was that death was the ultimate goal for everyone, and because of such she very much planned her own pending death. The structure of this poem was in a Pertrachan Italian sonnet form. In this form poems are meant to be very structured and are need of following a strict rhyme scheme. However there was a change in rhyme scheme between the octet and sestet. In the octet the phrase â€Å"Remember me† was mentioned three times, but a sudden change was then noticed, as in the sestet â€Å"Forget me† was repeated twice. This change is used to suggest the possibility of forgetting and being happy rather having instructions to remember. This could show even before her death she was still doubtful between secular love and materialistic love. Chinua Achebe is a proud Nigerian who observed the civil war in his country and horrific suffering of the innocent refugees. In Refugee Mother and Child he relates the sadness of death between a child and a mother by writing in free verse. The line length of the whole entire poem was three lines. In the first stanza there is only one sentence, and in the last stanza two sentences were present. These long sentence increases the intensity on the images and also the enjambment suggests the suffering of these innocent refugees. Plena Timoris is set within the conservative morality of Victorian England where women had a subordinate and dependent position in a male patriarchal world. Hardy uses different tones throughout the poem to evoke how he thinks about love. He sees love in a very cynical view and is making an effort in portraying love is not everlasting but tragic and indecisive. In the first stanza the use of alliteration in â€Å"the lovers looked over† emphasizes love was lyrical and a harmony of life by the â€Å"l† sound produced. But in the second stanza onwards there was a sudden transition and the change of tone was turned emotionless and insensitive. From the phrase, â€Å"There’s a woman in the canal below† there is a sense of bluntness and matter of fact to it. This sudden contrast of tones between the stanzas just enforces how Hardy thinks about love. The rhyme scheme of this poem does not change, the structure is: â€Å"abbab, cddcd†. It is in a strict and orderly fashioned. This rhyme scheme reflects how Hardy feels abut love and death. That love would have happy times but at the end it will just lead to despair. Also by having such a strict rhyme scheme it also suggest how Hardy views women opinion in love. As this structure is so old fashioned it provides a kind of security and how the future is being set. This may be very well how women in the male patriarchal world viewed love therefore he viewed love in such a cynical way. In the poem Remember, Rossetti portrays death as an eternal and a beautiful thing, instead of fearing death like the other two poems. The persona appears to have been planning and waiting for her own pending death. Rossetti uses strong imagery to reveal about how she feels about death. The opening two lines of this sonnet â€Å"Remember me when I am gone away, Gone far away into the silent land† gives an idea of how she hints that she is dying. The phrase â€Å"silent land† could be translated as a cemetery or individual grave. It can also be seen as a metaphor as the phrase also suggests calm after life. All these techniques used by Rossetti could be seen that she is using euphemism to make death sound less harsh, and instead it is a goal that should be achieved by everyone. Whereas in the poem Refugee Mother and Child, Achebe reflects the sadness of death by creating a tragic atmosphere. This poem does so by introducing shocking images and strong words. In this poem it is full of pathos; it is a very emotional poem. The alliteration used in: â€Å"struggling in labored steps behind blown empty bellies† evokes a sense of harshness, as the â€Å"b† sound which is constantly repeated makes a very plosive sound. The juxtaposition used in â€Å"the rust – colored hair left on his skull† emphasizes how horrific death is towards the child. Not only is this phrase very descriptive but it also seems to describe the layers of death. It is very photo journalistic which makes the atmosphere very tragic and grave. In Plena Timoris death is conveyed in the strong imagery created by Hardy. The negative imagery in â€Å"And her arm dropt† symbolizes how because the woman in the poem sees love could lead to death it is in fear of it, therefore there is a loss of affection towards the man. The alliteration in â€Å"dim dreads† and â€Å"slowly sees† portrays a sense of insecurity coming from the woman. As she slowly sees how extreme love could lead the despair and death. Lastly, the phrase â€Å"till an arm upbore† in stanza two is a horrifying image. The word upbore gives a sense of death and the whole phrase conveys a sense of fear towards the subject death as it is being described as horror and terror. In Remember the poem creates a huge impact on readers. It is a poem which is very memorable. This is because Rossetti describes death in a very different way than most poets therefore standing out from the other poems. The repetition in this poem emphasizes the point of her point of view and the confusion between her religion and materialistic love. The phrases â€Å"Remember me† and â€Å"Forget me† was repeated a number of times and because of such it plays a great role in the poem. As it gives an impression on how Rossetti is judging between her church and her religious fervor. The strong descriptive imagery in the poem Refugee Mother and Child and the choices of word Achebe chooses makes this poem have a very strong impact on the reader. The beginning of the poem where allusion is used in: â€Å"No Madonna and Child could touch† by referring to a famous painting of Jesus and Mother Mary, emphasizes the point of love between the bonds of the mother and child very strongly. Also the strong imagery in â€Å"her eyes the ghost of a mother’s pride† gives an impression of how the mother is hanging onto the child’s life and as the child dies something inside the mother is dying too. These strong images are used often in Achebe’s poem, and because of such his poem have a strong impact on readers and this poem is very memorable. In Hardy’s poem it was very effective as the negative poetic techniques he uses describes about love in a very vivid and strong, also Plena Timoris gives an impact to readers because it shows very clearly the differences between love and death. The juxtaposition in† till hopeless despair began† gives a contrast between hope. By this phrase love is being described very negatively, and because of this the poem is very vivid in the readers mind. Also in the phrase â€Å"the girl’s heart shuddered; it seemed as to free her†. The semi colon used in this phrase is an intended pause to emphasize the sense of the women’s heart actually shuddering. Plena Timoris creates a strong impact on readers as the descriptive words he chooses allows the reader to imagine clearly what is happening. Personally I liked Refugee Mother and Child the most because Achebe boldly states that the human spirit and dignity of the Nigerian mother and the love she has for the child is greater than anything comparable in the Christian world. Though Hardy’s and Rossetti’s poem was not unforgettable pieces of work, I think Achebe’s is the better one because his comparisons stood out more than the ones Hardy had. Also the imagery he had and alliteration was stronger than Rossetti’s. By reading Achebe’s poem I felt and sympathized for the mother and child, and I thought the poets point was put forward very clearly on love and how strong it can be.

Wednesday, August 21, 2019

Marketing Issues Facing the HSBC Bank in the UK

Marketing Issues Facing the HSBC Bank in the UK Key marketing issues facing HSBC Bank in the United Kingdom and globally: How it can be improved for entering in to 2011 Abstract Todays global banking environment is highly volatile, but this does not hinder competition from being intense. Consequently, organisations such as HSBC Bank plc, the worlds local bank, need to align their marketing strategies to improve on their brand value and positioning. To enter into the year 2011, they need to address both internal and external environment(s) which inevitably affect their competitive advantage, positioning and performance. In the following, the researcher aims to explore these avenues with the view to propose an extended study on new strategies to improve upon HSBCs current standing. Table of contents Chapter 1: Introduction Chapter 2: Methodology Chapter 3: Literature Review Chapter 4: Evidence Chapter 5: Conclusion and Recommendations References Appendices Introduction In the last few years, the banking industry has undergone tremendous change in the face of global transformation. As a result, executives are finding it difficult to meet competitive challenges as the pressure to become global intensifies. HSBC Bank plc, headquartered in United Kingdom, is a global business which faces the same challenge and is being investigated in the following dissertation. The aim is to survey the key marketing issues that challenge the bank, in the UK and globally so that the researcher could further its study in developing solutions for the same. Some of the objectives that the researcher aims to achieve in this dissertation proposal are as follows: Objectives 1. To explore key external and internal environments to address major issues that plague HSBC to function successfully as a global bank. 2. To identify the marketing mix that should be adopted to be integrated in the banks marketing and competitive strategies. 3. To investigate organisational functions like MIS (Management Information System) and CRM (Customer Relationship Management) to align them with the market structure. 4. To evaluate the brand value at HSBC, and perhaps identify new strategies for improving its global positioning. Background Today, change catalysts are being integrated by major consolidated organisations to adapt and become flexible to the changing needs of consumers. The banking industry, likewise, has been following the same trend of consolidation through mergers and acquisitions (MA), despite the fact that these MAs are creating even more complex organisations. This can be gauged from HSBCs organisational spread. HSBC has over 100 million customer base, spread across the globe through its Customer and Global businesses. With 9,500 offices and 335,000 staff in 85 countries and territories, it is considered to be one of the worlds top financial brands by The Banker Magazine (HSBC Official Web site 2008). While it is regulated by the Financial Services Authority in the UK, the global nature of its operation subjects it to be regulated by 510 central banks and authorities around the world as well (HSBC Official Web site 2008). To ensure that HSBC meets global challenges, the bank has been constantly evolv ing its strategy. For the past decade, it has focussed on being the worlds local bank with a wide network spread to mostly international emerging markets to develop unique cosmopolitan customer base to strengthen its financial standing. The four key business areas private banking, commercial banking, personal financial services and global banking markets help HSBC to align its presence with global trends such as fast growing emerging markets, world trade, and longevity in business (See Appendix 1). In line with this focus, is the strategy to leverage brand and network to increase revenues and maximise efficiency (HSBC Official Web site 2008). This conservative positioning strategy had been adopted for the past decade and has paid off in terms of higher earnings, and improved performance (BBC 2001). However, recently there has been a fall in profit earning (UK Annual Report 2007)(See Appendix 2), which has been translated to low performance. Some of the factors that have afflicted the bank include inflation in developed markets; slow down in emerging economies; and the ongoing credit crunch, especially in the UK and neighbouring Europe (HSBC Annual Results 2007; Toxic Shock 2008). The growing importance of globalisation only emphasises on the need for integrating marketing strategies within competitive strategies to leverage future performance. According to a Deloitte report (2007), banks like HSBC, with a global focus, need to understand external and internal factors that affect them, in order to devise comprehensive competitive strategy. While experts (Dietz, Reibestein, and Walter 2008) predict growth in global banking revenues estimated at 7 to 8 percent from 2006 to 2016, how to harness this forecast is dependent on the individual firms strategy. For this purpose, HSBC need to revise its strategic orientation. The purpose of research is to gain new knowledge through logical and systematic methods. According to Smith (1981 qt. Gliner and Morgan 2000), research is a broad discipline which must be carefully examined before adopting methods for evaluation. Whether the researcher chooses the naturalistic, experimental, survey or historical methods, the choice should be consistent with the inquiry defined. Accordingly, research approaches in the social science discipline can be divided into the positivist or quantitative, and constructivist or qualitative approach (Mangan, Lalwani and Gardner 2004). Depending on the quantitative or qualitative paradigm, a researcher must choose the approach of research. A quantitative paradigm is associated with scientific methods in acquiring research results and identifies causal relationships (Phillips 1992; Lincoln and Guba 1985 qt. Gliner and Morgan 2000). On the other hand, the qualitative approach is a constructivist approach that studies humans and physi cal objects with the meanings inherent in their social roles and symbolism. Considering the qualitative nature of the topic, the researcher proposes to adopt a constructivist approach which would be more appropriate in exploring the issues that affect HSBC. This is a logical proposition as it would allow the researcher to predict the causes and market behaviour based on theoretical frameworks studied through comprehensive literature review, a gist of which shall be explored in the next section. Furthermore, the researcher proposes this choice of research approach based on the premise that social science researches often seek to predict and control (Bryman 1995). Research questions raised are often open-ended and encompass extensive avenues before decisions can be made. Therefore, a qualitative method shall be suitable for the study of key issues challenging HSBC in the future. To take a brief overview of banking, the researcher has carried out a brief literature review to study the issues that surround the organisation. In the following section, the researcher shall explore the current market environment, as well as attempt to understand it through theoretical frameworks. Banking Industry As the worlds banking industry globalises and consolidates, cross border investment barriers have fallen to give way to new and volatile markets. To serve evolving markets, banks have been observed to develop new competitive strategies that capitalise on operations, resources and functionality, and serve new types of customers. The challenge for banks today is the geopolitical risks and structural market challenges which they need to adapt to, for addressing international compliance of standards, demographic shifts, and developing relationships with customers. The diversified nature of the banking environment makes it difficult for global organisations, like HSBC, to focus. A global bank can be defined as having the widest reach in providing services to affiliates, while a local bank has narrower reach in provision of services to institutions in the country. Some of the challenges that affect these organizations are explored below: 1) External Environment The basic premise for gaining competitive advantage in a global environment according to experts like Porter (1990) and Weihrich (1982), is through formulation of strategies that reflect the conceptual framework of the TOWS Matrix (See Appendix 3). The TOWS (Threats, Opportunities, Weaknesses and Strengths) Matrix is a systematic analysis model which identifies factors that surround the industry, and, thereafter, help identify solutions by maximising opportunities and strengths. By identifying the competitive advantage against competitors, the industry or firm can maximise the attributes it posses at the international level. These competitive advantages can be factor conditions such as skilled labour or infrastructure; demand conditions such as demand of the product or service; related and supporting industries; and firm strategy, structure and rivalry (Porter 1990). However, critics are of the view that Porters formula does not provide the key to success (O’Shaughnessy 1996) as it does not address operational and environmental issues like culture, competitive advantage in emerging markets; political and national history; or role of government. In todays global banking environment, these issues play critical roles (Jones 2005). These are evident from the Deloitte report (2007) on key issues challenging the banking industry, which include off-shoring; local insights for global branching; cost-reduction; emergence of hedge funds; and complex anti-money laundering regulations (Deloitte 2007). Not only is the global business environment of today strived with uncertainty due to emerging markets participation (Fahy 1993; Bansal and Penza 2000), but also the technological, political and regulatory environments have heightened competition. In the past decade, HSBC has focussed its competitive strategy on Europe after the slow down in Asia-Pacific region. Europe is an ideal setting for international integration based on a single market program (Berger, Smith, and Judge 2003; HSBC 2008). There are, however, issues that hinder development and competition including loyalty to local banks, regulatory restrictions, demand for global banking services, and technological advancement of banks. As a result, HSBC needs to rethink its current strategy. 2) Internal Environment As a result of the above factors, the internal environment of global banks has to be revolutionised. At the forefront is the adage the customer is king. Global banks are changing their strategies to alter banking environment congruent to customers needs, rights and choices. Services and products are tailored to the living conditions and customer patterns of banking use. These conditions set off alternative marketing strategies that emphasise on individuality and relationship building. Investment in technology, skills and branch networks, for example, has helped traditional banks to grow and profit from new sources of income (Jayawardhena and Foley 2000). In the UK, especially, the scale of investment in knowledge management and technology has helped transform the banking industry to succinctly harness potential businesses and create advantage for organisations. Learning organisations, however, is still a relatively new concept for many to understand and appreciate its implications (H arris 2002). Besides the above, global banks are also undergoing structural changes. As more and more banks become global, the traditional role of retail banking has to be revisited. (Bansal and Penza 2000).Issues that affect HSBC like credit and market risks, competence and expertise have come to the forefront, as banks diversify their businesses. For these reasons HSBC needs to be prepared for change management in its internal environment. 3) The Marketing Mix Given the diversified nature of the global banking industry, Jagersmas report (2006) suggests that banks need to rethink marketing strategies to meet the challenges in the future by improving customer focus, innovating products, pricing products competitively and organising product information for its strategic positioning. The challenge that awaits organisations is to rethink strategic objectives that would align with the new environment. One approach is to develop a visual identity and develop a communication network to establish relationships with customers. The communication strategy would be the life line for the organisations strategy in adapting or changing its market context or other environmental alterations, according to Melewar, Bassett, and Simoes (2006). Similarly, Gummesson (2002) is of the view that relationship marketing is the new approach to marketing that focuses on customer, suppliers and organisations in a complex network environment or society. It is only throug h these new communication frameworks that the banking sector can address the core and brand values it has to develop for successful marketing mix. (See Appendix 4) HSBC needs to re-evaluate its marketing mix in order to generate newer ones. 4) Market Segmentation and Targeting Indeed, the nature of the marketing mix is no longer simply the 4 Ps of Price, Product, Position and Promotion but involves complex analysis of the target market and its segments. In fact, Papasolomou and Vrontis (2006) are of the view that todays banking organisations have different sets of customers and expectations. Customers are no longer limited to the walk-in type, but extend to internal customers such as employees, stakeholders and shareholders; service delivery is not limited to providing service, but extends to standards and expectations; development involves training and development in motivation, and inspiration; and employee incentives. To be successful, organisations must adopt alternative strategies. Market segmentation in the banking industry has changed from niche segments to accumulated customer base of corporate, private or commercial customers, although the principles for targeting them remain the same customer relationship building; ease of access; delivery of se rvice through diverse workforce; and collaborative banking strategies. As a result, banks like HSBC would need to improve upon customer focus, introduce new ideas to customers and drive aggressive campaigns (Wells Fargo and First Direct 2007) using a strong communication network (Berner and Kiley 2005) to build brand image. 5) MIS and CRM What differentiates and establishes brands depends on the power of the brand to communicate its value to the market. According to Sinek (2008), successful communication is dependent on the banks ability to offer different products and services reflective of the customers needs. Hence, branding alone would not differentiate banks, but the humanness of the banks philosophy would. Thus, Umpqua Bank and FirstDirects popularity with customers is due to their understanding of the need for convenient banking, need for alternative products and services, and their understanding of the ever-changing world of banking. By harnessing the online banking technology, direct banking has become possible to their customers. The attractiveness of these banks to their customers is inherent in the shift away from traditional transaction-based to customer based banking (Branching out 2007). Furthermore, banks have also capitalised on technological networks to expand globally to bring customers closer to their banks by defying geographical dispersion (Lefton 1997; Branching out 2007). However, in the process, issues like outsourcing labour to foreign regions, which are alien to the customers, and low quality service delivery compromise the overall expectations. Banks, especially, rely on outsourcing companies for their customer service which constitutes a major part of their service/product delivery (Gottfredson and Phillips 2005). This reliance on external organisations for the banks success is volatile and, at times, detrimental to its relationship with customers. Whether HSBC should rely on these systems or not shall determine its performance in the future. 6) Brand Positioning The objective of competitive advantage is dependent on positioning of the product. A firms communication strategy and its effectiveness depend on the positioning strategies. In marketing strategies for service-oriented brands, positioning is even more critical as it modifies the intangible perceptions of the service in relation to the competition (Blankson and Kalafatis 2007). For these reasons, strategic implications of brand positioning are critical for the organisations competitive strategy. Service positioning differs from tangible product positioning as its characteristics are different from physical goods. Customers differentiate the service from goods through communication, standard of service delivery, and the quality of the benefits reaped. Thus, marketing communication plays a vital role in establishing the marketing positioning of brands. Consequently, Papasolomou and Vrantis (2006) emphasise on the importance of internal marketing throughout branch network to strengthen r elationship marketing and the brand. In banking, this could be achieved by launching internal marketing campaigns to sustain the brand through employees and their experiences such as brand proposition, overcoming internal barriers, continual improvement and expansion. These HSBC needs to explore in to incorporate into its future strategies. From the above brief literature review, the researcher is of the view that HSBC, as a global bank, faces tremendous challenges in the near future to improve upon its marketing strategy. The above literature also suggests that, while the current marketing strategy has been successful in launching the HSBC in the international market, the bank needs to revise and develop its marketing strategies which would sustain HSBC in global environment. Issues that plague the worlds global banking industry need to be evaluated in the future study to understand the extent and breadth to which HSBC has complied with, before competitive strategies can be evaluated. The brief literature review also indicates that todays marketing strategies are different from traditional methods adopted, especially for a service-oriented organisation. Consequently, marketing strategies for HSBC needs to be re-valuated to gauge its future performance, and perhaps devise new ones to address current and future issues. Issues like MIS, CRM, brand positioning and marketing mix shall be revisited in this extended dissertation in order to tackle the issues that plague its internal and external environment. From the above evidence, the researcher proposes an extended study in the form of a dissertation to review HSBC’s performance and how it can improve upon its current marketing strategy in order to develop an integrative competitive strategy for the future. Considering the fast-paced and highly volatile banking environment of the UK and globally, HSBC needs to improve its performance in order to sustain competition. With the extended study, the researcher hopes to achieve the following objectives: a. A detailed investigation of the external and internal environment of HSBC in order to identify its strengths, weaknesses, opportunities and threats. b. Identify the marketing mix that it should adopt and integrate within its organizational strategies to enter into 2011. c. To study the current organisational function such as MIS and CRM to the advantage of HSBC and integrate into its future marketing strategies. d. Improve on its current brand value and global positioning. Author not available (2008) Toxic shock: how the banking industry created a global crisis, Guardian [Online] Available at: http://www.guardian.co.uk/business/2008/apr/08/creditcrunch.banking Author not available, (2007) Wells Fargo and First Direct lead the way in the banking sector. Strategic Direction, Vol. 23, No. 6, pp. 29-31. Author not available, (June 2007) Branching out. Economist, Vol. 383, Issue 8533. Bansal, V. and Penza, P. (2000) Measuring Market Risk with Value at Risk, John Wiley and Sons. BBC (August 2001) HSBC confounds doomsayers, BBC [Online] Available at: http://news.bbc.co.uk/1/hi/business/1475589.stm Berger, A.N.; Smith, D. C.; and Judge, J. (November 2003) Global integration in the banking industry. Federal Reserve Bulletin. Berner, R. and Kiley, D. (August 2005) Special Report: The Best Global Brands. Business Week [Online] Available at: http://www.businessweek.com/magazine/content/05_31/b3945098.htm Blankson, C. and Kalafatis, S. P. (2007) Positioning strategies of international and multicultural-oriented service brands. Journal of Services Marketing, 21/6 pp. 435–450 Bryman, A. (1995) Research Methods and Organization Studies. Routledge: London. Deloitte Touche Tohmatsu (2006) Global Banking Industry Outlook: Growth Solutions in a Changing World 2006. Deloitte Touche Tohmatsu [Online] Available at: http://www.deloitte.com/dtt/research/0,1015,cid%3D116421,00.html Deloitte Touche Tohmatsu (2007) Global Banking Industry Outlook: Issues on the horizon 2007. Deloitte Touche Tohmatsu, [Online] Available at: http://www.deloitte.com/dtt/research/0,1015,cid%3D116421,00.htm Dietz, M., Reibestein, R. and Walter, C. (January 2008) What’s in store for global banking, The McKinsey Quarterly. Fahy, J. (1993) An Analysis of Competition in the New Europe, European Journal of Marketing, Vol. 27, No. 5, pp. 27, Gliner, J. A. and Morgan, G. A. (2000) Research Methods in Applied Settings: An Integrated Approach to Design and Analysis. Lawrence Erlbaum Associates: Mahwah, NJ. Gottfredson, M. and Phillips, S. (2005) A sourcing strategy for enhancing core capabilities. Strategy Leadership, VOL. 33 NO. 6, pp. 48-49. Gummesson, Evert. (2002) Total relationship marketing 2nd ed. Oxford: Butterworth-Heinemann. Harris, L. (2002) The learning organization myth or reality? The Learning Organization, Vol. 9, No. 2, pp. 78-88 HSBC Official Website [Online] Available at: http://www.hsbc.com/1/2/investor-relations/strategy Jagersma, P. K. (2006) Strategic marketing and the global banking industry: elements of excellence, Journal of Business Strategy. Vol. 27 Issue: 4 pp. 50 59 Jayawardhena, C. and Foley, P. (2000) Changes in the banking sector the case of Internet banking in the UK. Internet Research: Electronic Networking Applications and Policy, Volume 10 . Number 1 pp. 19Â ±30 Jones, G. (2005) Multinationals and Global Capitalism: From the Nineteenth to the Twenty-First Century. Oxford University Press: Oxford pp. 137. Lefton, T. March 1997) Spending global, acting local. Brandweek, Vol. 38, Issue 13. Lincoln Y. S., Guba E. G. (1985) Naturalistic inquiry. Newbury Park, CA: Sage. Mangan, J.; Lalwani, C. and Gardner, B. (2004) Combining quantitative and qualitative methodologies in logistics research. International Journal of Physical Distribution Logistics Management, Vol. 34 No. 7, pp. 565-578 Melewar, T.C.; Bassett, K. and Simoes, C. (2006) The role of communication and visual identity in modern organisations. Corporate Communications: An International Journal, Vol. 11 No. 2, pp. 138-147. O’Shaughnessy, N. J. (1996) Michael Porter’s Competitive Advantage revisited. Management Decision, 34/6 pp. 12–20 Papasolomou, I. and Vrontis, D. (2006) Building corporate branding through internal marketing: the case of the UK retail bank industry. Journal of Product Brand Management, 15/1 pp. 37–47 Phillips D. C. (1992) The social scientists bestiary. Oxford, UK: Pergamon Press. Sinek, S. (January 2008) Chase Campaign Good for Banks For the Brand? Not So Much. Brandweek, Vol. 49, Issue 3. Smith M. L. ( 1981) Naturalistic research. Personnel and Guidance Journal, 59, 585-589. Weihrich, H. (1999) Analyzing the competitive advantages and disadvantages of Germany with the TOWS Matrix – an alternative to Porter’s Model. European Business Review, Volume 99 Number 1 pp. 9–22 Weihrich, H. (2008) The TOWS Matrix A Tool for Situational Analysis. Long Range Planning, [Online] Available at: http://www.usfca.edu/fac_staff/weihrichh/docs/tows.pdf Appendix 1 Appendix 2 Appendix 3 Appendix 4

Tuesday, August 20, 2019

Emotional Intelligence and Leadership Effectiveness

Emotional Intelligence and Leadership Effectiveness Contemporary organizations are faced with demands and pressures of ever expanding magnitude that the quest for effective leadership continues to intrigue educators, researchers, and practitioners. In this context, the present paper focuses on the importance of emotional intelligence (EI) in relation to leadership effectiveness. A significant amount of research and attention has been given to identifying relationships between emotional and social intelligence regarding, life satisfaction, personality, social relationships, team performance, education and leadership. Today, in light of the increasingly complex and changing world, researchers have highlighted the need for a new leadership approach. Through research in the area of personal-best experiences, Kouzes and Posners five identified leadership practices, which were identified through studies associated with the stories of leaders who were able to get extraordinary things done in their organizations Underlying Kouzes and Posners Model is the leaders ability to generate, encourage, and promote healthy, reciprocal, and collaborative relationships. This interpersonal or relational aspect of leadership has recently been connected to the emotional intelligence constructs that have gained popularity in recent decades. Emotional intelligence skills provide developing leaders with an increased understanding of the impacts of emotions within a team or organization. Caruso and Salovey demonstrated the advantages EI has with respect to six common challenges in leadership: (a) building effective teams, (b) planning and deciding effectively, (c) motivating people, (d) communicating a vision, (e) promoting change, and (f) creating effective interpersonal relationships. This paper ends by highlighting the impact of Emotional Intelligence in the leadership style of resonant and dissonant leaders. Introduction Contemporary organizations are faced with demands and pressures of ever expanding magnitude that the quest for effective leadership continues to intrigue educators, researchers, and practitioners. Goleman, Boyatzis, and McKee (2002) explained that, leaders everywhere confront a set of irrevocable imperatives, changing realities driven by profound social, political, economic, and technological changes. During these changing times, it is most important for organizational leaders to stay attuned to their own emotional reactions to pressures, as well as how those environmental pressures affect their constituents. Hence todays organizations need a transformational change, calling for new leadership. In this context, the present paper focuses on the importance of emotional intelligence (EI) in relation to leadership effectiveness. EI Research The concept of emotional intelligence has gained popularity in recent decades; however, the characteristics and concepts associated with EI are rooted in research conducted throughout the twentieth century. Earlier works identified competencies, other than general intelligence, that contributed to life success. Thorndike (1937) reported the concept of social intelligence. Wechsler (1940) fought for the addition of non-intellective aspects as a measure of general intelligence. Likewise, Leeper (1948) purported that emotional thought should be considered when reviewing the concept of logical thought. However, it was not until the 1980s that the current concepts related to emotional intelligence started to emerge. Gardner (1983) shared a theory of multiple intelligences that encouraged researchers to step outside the notion that human beings are confined to a singular or plural view of intelligence. Gardner purported that there were five more intelligences that were equally important to collective human intelligence: musical intelligence, spatial intelligence, bodily-kinesthetic intelligence, interpersonal intelligence, and intrapersonal intelligence. Within these multiple levels of human development or intelligences, a movement evolved that expanded two particular areas of Gardners approach (i.e., interpersonal and intrapersonal intelligences). According to Bar-On (2002), several researchers expanded Gardners interpersonal and intrapersonal intelligences into six primary components of emotional intelligence: emotional self-awareness, assertiveness, empathy, interpersonal relationship, stress tolerance, and impulse control. Researchers generally agree that EI addresses ones ability to identify, interpret, and control his or her own emotions, as well as stay in tune with, understand, and relate to the emotions of groups and individuals (Goleman et al., 2002; Bar-On, 2002; Mayer Salovey, 1993). Additionally, EI stems from ones ability to utilize emotional information to appropriately solve problems and make environmentally savvy decisions. In the last two decades of the 20th century and more recently in the 21st century, a significant amount of research and attention has been given to identifying relationships between emotional and social intelligence regarding, life satisfaction (Palmer, Donaldson, Stough, 2002), personality (Higgs Rowland, 2001; Schulte, Ree, Carretta, 2004), social relationships (Lopes, Salovey, Straus, 2003; Massey, 2002), team performance (Rapisarda, 2002), education (Jaeger, 2003; Zeidner, Roberts, Matthews, 2002), outdoor leadership training (Thompson, 2004) and leadership (Goleman, 1998, 2001; Dulewicz Higgs, 2003; Cherniss Goleman, 2001). Leadership Theory Historically, social changes have been charted, coordinated, and led by a few leaders who had the ability to energize and motivate constituents or community members to stand tall, shed fears, and push forward the need for change. Today, in light of the increasingly complex and changing world, researchers have highlighted the need for a new leadership approach (Yukl Lepsinger, 2004; Kouzes Posner, 2002; Goleman, Boyatzis, McKee, 2002). Though researchers have been studying leadership and leadership development since the days of Aristotle and Plato (Leonard, 2003), the study of leadership has been plagued with an overabundance of theories with little common direction (Chemers, 1993; Northhouse, 1997; Day, 2001). Chemers (2000) conducted a historical overview and analysis of leadership theories and concluded that common findings in leadership studies have led to the following three tasks that leaders must achieve to be effective: (a) establish the legitimacy of their authority, (b) coach, guide, and support their constituents in ways that allow for both group and individual goal attainment, and (c) identify and employ the strengths and abilities found in themselves, as well as their constituents, to accomplish the organizational mission. Astin and Astin (2000) called for a leader who can be adaptive and promote creative solutions to modern societal problems. They further explained that to cope effectively and creatively with these emerging national and world trends, future leaders will not only need to possess new knowledge and skills, but will also be called upon to display a high level of emotional and spiritual wisdom and maturity. Hence, there is little doubt that our turbulent world requires a new perspective on leadership (Komives, Lucas, McMahon, 1998). Through research in the area of personal-best experiences, Kouzes and Posners five identified leadership practices, which were identified through studies associated with the stories of leaders who were able to get extraordinary things done in their organizations (Kouzes Posner, 2002). These leadership practices include Modeling the Way, Inspiring a Shared Vision, Challenging the Process, Enabling Others to Act, and Encouraging the Heart. Relational Leadership: Five Practices of Exemplary Leaders Effective leadership is about creating reciprocal relationships between the leader and followers, subordinates, or constituents that in turn creates the foundation for organizational and group success (Bass, 1985; Chemers, 1993; Komives, Lucas, McMahon, 1998; Kouzes Posner, 2003; Potter, Rosenbach Pittman, 2001). The Kouzes and Posners Five Practices of Exemplary Leadership Model has been noted for its contributions to the Relational Leadership paradigm (Komives, Lucas, McMahon, 1998; Endress, 2000; Berg, 2003). Kouzes and Posner (1987) conducted research in the area of personal best leadership experiences. They developed a Personal-Best Leadership Experience questionnaire, asked thousands of managers to complete the questionnaire, and conducted many follow-up interviews to gather additional information. The personal-best questionnaire asked managers to pick a project, program, or event that they characterized as their personal-best leadership experience. After analyzing the data collected from questionnaires and interviews, Kouzes and Posner found that despite the variety in situations and types of leadership experiences, similar patterns were identified related to actions taken by the leaders during the experience. Through the analysis process they identified Five Practices of Exemplary Le adership that contributed to getting extraordinary things done in organizations: Modeling the Way Inspiring a Shared Vision Challenging the Process Enabling Others to Act and (e) Encouraging the Heart. The first practice is Modeling the Way, in which leaders role model the behaviors they want the see in their constituents. Through action and involvement, leaders earn the right to lead and the respect of their followers. The second leadership practice is Inspiring a Shared Vision. This is when the leader imagines what the organization could be and then creates a vision that is attainable and attractive. The leader connects this new vision to the hopes and dreams of his or her constituents to generate passion and enthusiasm for realizing the vision. The third leadership practice is Challenging the Process. Exemplary leaders are pioneers who know that innovation and change involves experimentation, risk, and failure. A leader understands that change can feel uncomfortable and then builds constituent confidence by pursuing change incrementally and by accomplishing small victories. The fourth leadership practice involves Enabling Others to Act. Successful leaders understand that leadership is a team effort and are not afraid to share the leadership process. Leaders foster collaboration and build trust by supporting and encouraging their constituents to do good work. Leaders who are able to build trusting and collaborative relationships find that their constituents are higher performers and even exceed their own personal expectations. Finally, exemplary leaders Encourage the Hearts of their constituents to help them carry on in the face of challenge, frustration, and discouragement. Leaders know that celebrations and rituals, when done with authenticity and from the heart, build a strong sense of collective identity and community spirit that can carry a group through extraordinarily tough times. Relational Leadership and EI Underlying Kouzes and Posners Model of Exemplary Leadership Practices is the leaders ability to generate, encourage, and promote healthy, reciprocal, and collaborative relationships. This interpersonal or relational aspect of leadership has recently been connected to the emotional intelligence constructs that have gained popularity in recent decades (Mayer Salovey, 1997; Bar-On, 2002; Goleman, 1995). Researchers agree that there is considerable overlap between relational leadership and EI competencies in both content analysis and empirical evidence (Higgs, 2002; Dulewicz Higgs, 2003). Goleman (1998) made connections between emotional intelligence and leadership practices in which he boldly claimed that highly emotionally intelligent leaders and work teams contribute significantly to the overall success and bottom line of the organization. Goleman, et al. (2002), when talking about building a culture of change in an organization, assert the following: Emotionally intelligent leaders know how to manage their disruptive emotions so that they can keep their focus, thinking clearly under pressure. They do not wait for crisis to catalyze a need for change; they stay flexible, adapting to new realities ahead of the pack rather than just reacting to the crisis of the day. Even in the midst of vast change, they can see their way to a brighter future, communicate a vision with resonance, and lead the way. Positive emotional leadership is a necessity in times of chaos and change because constituents closely examine and then emulate or mirror their leaders behaviors and actions (Goleman, Boyatzis, McKee, 2002). In other words, constituents, either consciously or unconsciously, react to a leaders verbal and non-verbal responses to a specific crisis or challenge (Caruso Salovey, 2004). Dulewicz and Higgs (2003), identified common EI elements that have been linked to effective leadership characteristics: (a) self-awareness, (b) emotional resilience, (c) motivation, (d) interpersonal sensitivity, (e) influence, (f) intuitiveness, and (g) conscientiousness and integrity. Ultimately, leadership is a social and emotional process, and effective leaders are able to harness those social and emotional ties to successfully pilot organizations through chaos and rapid change. EI and Leadership Challenges Emotional intelligence skills provide developing leaders with an increased understanding of the impacts of emotions within a team or organization. Caruso and Salovey (2004) demonstrated the advantages EI has with respect to six common challenges in leadership: (a) building effective teams, (b) planning and deciding effectively, (c) motivating people, (d) communicating a vision, (e) promoting change, and (f) creating effective interpersonal relationships. Throughout Caruso and Saloveys descriptions of the six challenges, they cited a connection with Kouzes and Posners Effective Leadership Practices Model. 1. Building effective teams The first challenge was building an effective team. Caruso and Salovey discussed the need for clarifying personal values before attempting to formulate team values. Like Kouzes and Posners model, Caruso and Salovey explained that leaders must identify their own values before clarifying team values. A significant level of trust is important for leading teams, and a leader must generate positive opportunities for meaningful team communication and interaction. Additionally, a leader must have significant self-confidence to give team members credit for accomplishments and not blame them when shortfalls occur. 2. Planning and deciding effectively Caruso and Salovey went on to explain that even though planning and decision-making can seem cognitive and practical, emotions contribute significantly to these activities. Emotionally intelligent leaders possess the ability to remain flexible and open to other alternatives. Additionally, EI leaders take into account how their team members may react to a decision, and then attempt to make decisions that will fit in with the shared values of the team. In the end, this type of flexible decision-making will contribute to the successful implementation of the decision. 3. Motivating people Every leader at one point or another is faced with the question of how to motivate a team. Caruso and Salovey cited Kouzes and Posners (2002) encouraging the heart model as a significant contribution to motivating a team. When a leader expresses appreciation for the accomplishments of team members, they are in many ways providing that added incentive for future successes. Caruso and Salovey also explained that it is important for a leader to celebrate team member successes without promoting or encouraging envy throughout the team. 4. Communicating a vision Furthermore, communication is among the most difficult challenges to leadership. EI leaders base their communication efforts on delivering a message [they] want to deliver and delivering it in such a way that is heard and understood by others. Communication also entails a leaders vision for the future. Caruso and Salovey emphasized that because an EI leader has the ability to understand and empathize with group feelings, he or she will be successful in encouraging team members to buy into their vision of the future. 5. Promoting change In light of rapid worldly changes, a leaders ability to facilitate and encourage change has been a hot topic recently (e.g., Kotter, 1995; Higgs Rowland, 2001). Caruso and Salovey (2004) explained that EI leaders challenge the status quo through innovation, experimentation, and risk-taking. They further explained that most people are resistant to change; however, EI leaders identify, empathize with, and acknowledge resistance and then communicate the need for change and clarify a road map toward successful implementation. 6. Creating effective interpersonal relationships Building effective interpersonal relationships is the foundation of the emotionally intelligent leader. Caruso and Salovey (2004) explained that effective interpersonal relationships include both positive feedback and sincere criticism (p. 209). EI leaders are able to generate relationships that are healthy and mature enough for members to express honest and tactful reactions with other members. Caruso and Salovey explained that emotions contain data and [those] data are primarily communicating information about people and relationships. Being accurately aware of emotions and their meaning provides the emotional intelligent manager with a solid base of understanding of themselves and of others. Along with understanding and interpreting emotions, it is equally important for leaders to understand the impact of emotions on individual and organizational performance. EI and Resonant / Dissonant leaders Goleman, Boyatzis, and McKee (2002) shared two leadership styles that relate both positively and negatively to emotional intelligence and contribute significantly to productivity and work satisfaction: dissonance and resonance. Goleman, et al. explained that a dissonant leadership style demonstrated characteristics that are not emotionally effective or supportive within an organization. A dissonant leader is one who offends constituents and creates an unhealthy and unproductive emotional environment within the organization. They described dissonant leaders as leaders who are so out of touch with the feelings of their constituents that they create a negative environment, which in turn moves the organizations attitude toward that leader on a downward spiral from frustration to resentment, rancor to rage. Dissonant leaders were also described as authoritarian, untrustworthy, uncooperative with constituents, unharmonious with the group, abusive, and humiliating. Resonant leaders, on the other hand, project an emotional atmosphere that is comfortable, cooperative, supportive, and enthusiastic. They inspire shared values and rally people around a worthy goal. Goleman, et al. described four leadership styles that build resonance within the organization: (a) visionary moves people towards a shared dream, (b) coaching connects personal desires with organizational goals, (c) affiliative creates harmony by connecting people to each other, and (d) democratic values input and builds commitment through participation. As mentioned earlier within the area of modeling, the concept of mirroring in relationship to resonance and dissonance within the organization is very important when a leader reacts to both positive and negative situations. When a leader reacts to a negative situation in a concerned but positive fashion, his or her behavior becomes a model which the rest of the organization can follow. Goleman, et al. explained that leaders within organizations are observed for acceptance or rejection to thoughts, projects, or ideas. If a leader shows any nonverbal or verbal gestures, constituents quickly notice and react to those gestures. Emotionally intelligent leaders realize and understand how their emotional reaction can guide and steer the emotions of the entire organization. This concept of resonant and dissonant leadership styles is one example of the power of the emotional climate within an organization. Emotional intelligence has been linked to a number of additional factors associated wit h effective leadership (Goleman, 1998; Kouzes Posner, 2002; Dulewicz Higgs, 2003). Conclusion With the identified benefits of emotional intelligence related to creating and developing positive relationships, combined with the understanding that positive relationships are the core of effective leadership, the idea of emotional intelligence and effective leadership is one that has been well established in the literature. Researchers have started to develop and assess developmental programs for emotional intelligence that coincide with leadership development programs and initiatives. The question most pertinent to those involved research and practice in the area of leadership development is the process by which leaders learn about emotions and the power of emotion on leadership success.

Monday, August 19, 2019

Exploring Morality in Measure for Measure Essay -- Measure for Measure

Exploring Morality in Measure for Measure   Ã‚   In Measure for Measure, Shakespeare is able to examine the concept of right and wrong through the characters of Mistress Overdone and Mariana. Throughout the play, by using characters that most people would find morally reprehensible, Shakespeare is able to give the audience a different view of these people and, hopefully, show his audience that people aren't always what they appear to be. Through the character of Mistress Overdone, Shakespeare is able to bring a jovial side to the oldest job known to man -- prostitution. Through the character of Mariana, Shakespeare allows the audience to decide if two wrongs do, in fact, make a right. While the concepts of right and wrong are given a twist in this play, Shakespeare, in the end, allows his audience to decide for themselves what is right and what is wrong. At the beginning of act one, scene two, Shakespeare uses the bawd, Mistress Overdone, to convey to the audience that Angelo is enforcing the fornication laws of Vienna. While this seems like the more moral, and more right, action to take, Shakespeare puts a twist on what the audience would normally view as a clear cut case. In lines 79 - 81, Mistress Overdone explains to the audience the effects of these new policies. So, while it seems right to shut these businesses down, the audience now is shown that prostitution is this lady's livelihood and her way for making money. However, who is to decide if the "moral benefits" of eliminating the public display of prostitution is in the best interest of the city? By posing this question, Shakespeare forces the audience to consider both sides of the issue to, in the end, make some decision.    In England, during that time... ... While, of course, this play does not say that Shakespeare was in favor of prostitution, it does force his audience to see these people as individuals and not objects. Likewise, by introducing the description of Mariana, Shakespeare challenges the idea of something always being right or wrong. Through the two characters, Shakespeare is able to have his audience challenge their ideas of right and wrong and force them into justifying these decisions. Sources Cited and Consulted Knight, G. Wilson. Shakespeare and Morality. London: Routledge & Kegan Paul, 1967. Leech, Clifford. "The 'Meaning' of Measure for Measure." Shakespeare Survey 3 (1950): 69-71. Shakespeare, William. Measure for Measure. The Arden Shakespeare. Ed. J.W. Lever. London: Routledge, 1995. Thomas, Vivian.   The Moral Universe of Shakespeare's Problem Plays.   London: Croom Helm, 1987.

Sunday, August 18, 2019

Grammar and Writing in the Classroom Essay -- Education, Teaching, Eng

In the article entitled â€Å"How to Teach Grammar, Analytical Thinking, and Writing†, Lynn Sams (2003) voiced and suggested methods on how grammar and writing should be taught in the classroom. This article was published in the English Journal by the National Council of Teachers of English. Sams based her research on her 16 years of experience as a high school teacher and the instructional approaches she used with her sixth, seventh, eighth and ninth grade classes. Sams refers to grammar as â€Å"the relationship between structure and meaning† (57). The information in this article demonstrates processes of analyzing the structure of sentences and suggests students cannot completely understand writing without first understanding the basic concepts of grammar. Sams explained that both traditional and in-context approaches to teach grammar are unsuccessful because â€Å"they treat grammar as something that exists apart from and outside of the writing process itself† (57). When referring to grammar and writing, Sams suggests â€Å"to study one is to study the other† (57). Sams explained that she first emphasized the process of drafting and revising. Sams’s instruction included the students working together and sharing their ideas and feedback during the drafting process. However, Sams realized that this process would not be successful without first teaching the students how to revise. Sams then based the instruction on the concept that the students needed to organize their work in a reasonable order that can be understood by others. Sams explained that to organize ideas, the students needed to be able to understand â€Å"how their ideas relate to one another† and how to separate â€Å"main ideas and supporting de tails† (58). However, to separate main ideas from... ...Grammar Alive (2003) discuss the use of sentence diagrams to provide students with visual displays of the material. According to the authors of Grammar Alive, â€Å"many students do indeed find the diagrams helpful in seeing the relationships among sentence elements† (75). The use of questioning strategies in this process can ensure that students learn the content and can encourage critical thinking. Teachers should provide interesting and challenging questions designed to engage students thinking. Creating a classroom environment in which thinking and analyzing are valued is important to the success of all students. This process is definitely a process I would use in my classroom to improve the students’ understanding of grammar and writing. With improvement of grammar and writing, the students’ written work will improve and evolve to a more professional level.

Newspapers -- essays research papers

The front page of a newspaper provides a great deal of information on various subjects. Most newspapers include a weather forecast, an index or brief description of articles inside the paper, and a small sports scorecard to accompany the local and national news. Newspapers also concentrate on how to grab the attention of readers. They most commonly use a larger, darker type of print, mixture of color, and/or pictures on the front page of the paper. A newspaper’s job is to update people on the happenings around the world as well as in their own community. Community size often may influence or even dictate the findings on the front page of a newspaper. Normally the front page of a newspaper lets a person in on the findings throughout the remaining sections of the paper. A small index, or article description containing page numbers, usually shows a reader what the rest of paper contains. Accompanying this index, usually a forecast of the weather to come in the next few days manages to make it on the front page also. Some papers actually save the die-hard sports fans some time by having a miniature scoreboard recapping the scores of the day before. Remember that this doesn’t apply to all papers only to some. Newspapers constantly look for more readers and to help attract these readers many attempt to dress up their paper. While some papers remain basic and plain, others add color and size to font in a try to appeal to readers. Background color adds a little life to an otherwis...

Saturday, August 17, 2019

College Essay Essay

The last two years I have been on the high school gymnastics team. Before that I was in club gymnastics, yet somehow both are very different from each other. When I started high school gymnastics I didn’t know what to expect. Everyone was very friendly and excited to start the season, just like I was. In club gymnastics, it seemed more like an individual sport. High school gymnastics has been such a good and different experience. It may seem like gymnastics would be the same no matter where you went, with routines and working out the same. But in high school, you see your friends in the gym and during school too. I have made so many friends and new relationships with people with different interests and personalities, that I didn’t think I would ever get to know. I have learned from these relationships how to respect people more and treat people how you would want to be treated. It has helped me to understand people better and how to respond to people in different situations. Now it may seem like I only did gymnastics for friends, but that’s not true. I have been in gymnastics since I was 3 years old. It has taught me so much more than just friendship. It has taught me self- discipline, courage, strength (physically, and mentally), and now that I’m older, leadership. In life I consider those very important traits to have. I can take what I’ve learned in gymnastics and apply it to everyday life. We would have to set goals for gymnastics on certain skills we wanted to get by a certain time. I have used that to set goals for the future and where I want to be in 5 – 10 years. Not only did I set those goals, but I know what I have to do to achieve those goals. And having self –discipline helps me keep myself on track to make sure I get things done, not just with goals in life, but also with everyday things. For example, juggling school work and gymnastics. I have to keep myself on track to make sure I understand the material to keep my grades up. So gymnastics has really taught me a lot, not only throughout my life, but these last two years especially. It has helped me over come things I didn’t think I could handle by myself. I can honestly say gymnastics has made me the person I am today, and can’t wait to see the things colleges brings my way in the future.

Friday, August 16, 2019

Perfect Competition Essay

For a market to be perfectly competitive, one of the main criteria is that all firms (and consumers) are price takers. The following conditions are also necessary: 1. There must be many buyers and sellers in the market for an identical product. 2. Firms’ products are identical. 3. Buyers and sellers must be fully informed about prices, products, and technology. 4. There are no barriers to entry (or exit). 5. Selling firms are profit-maximizing entrepreneurial firms. The scenario about the ice cream industry depicts a perfectly competitive market. Buyers view vanilla ice cream from different stores as identical products, new stores can enter the industry, and each store has no influence on the going market price. In perfect competition, many firms sell identical products to many buyers. Therefore, if Falero charges even slightly more for a box than other firms charge, it will lose all its customers because every other firm in the industry is offering a lower price. In other words, one of Falero’s boxes is a perfect substitute for boxes from the factory next door or from any other factory. So, a perfectly competitive firm faces a perfectly elastic demand for its output at the current market price. In this case, the equilibrium market price is $5 per box, so Falero faces a perfectly elastic demand curve for its boxes at $5. Since a perfectly competitive firm faces a perfectly elastic demand curve at the market price, it can sell any quantity it chooses at this price. Therefore, the change in total revenue that results from a one-unit increase in the quantity sold is equal to the market price, so the marginal revenue curve is a horizontal line at the market price of $5 per box. Since the demand curve is also a horizontal line at the market price, the demand curve and the marginal revenue curve are the same. Economic profit equals total revenue minus total cost, so profit is at its maximum when the difference between total revenue and total cost is at its greatest Economic profit is defined as the difference between total cost and total revenue. At a price of $12,000, a profit-maximizing firm in a perfectly competitive market will produce 4,000 hybrid vehicles per year, since this is the quantity where marginal cost equals the market price (which equals a competitive firm’s marginal revenue). Since profit is the difference between total revenue (TR) and total cost (TC), we can rewrite this expression as: Profit = TR – TC Profit = (P x Q) – (ATC x Q) Profit = (P – ATC) x Q In this case, profit = ($12,000 per vehicle – $16,000 per vehicle) x 4,000 per vehicle= -$4,000 x 4,000 = -$16,000,000, which is an economic loss. This is the blue shaded area (labeled A) in the graph above. The firm will produce as long as the market price is above the shutdown price of 10 cents, so the firm’s supply curve corresponds to the portion of the marginal cost curve for prices above 10 cents. For example, at 10 cents, the firm will produce 150,000 pairs of socks, so (150, 10) is a point on the firm’s supply curve; at 15 cents, the firm will produce 200,000 pairs of socks, so (200, 15) is another point. For prices below 10 cents, the firm will not produce at all. The shutdown price of $2 marks the point at which average variable cost is at its minimum. In the short run, when price is below $2, a firm’s variable costs exceed its total revenue, so the firm would maximize profits (minimize losses) by shutting down. The break-even price of $4 marks the point at which average total cost is at its minimum. In the long run, when price is below $4, a firm’s total costs exceed its total revenue, so the firm would maximize profits (minimize losses) by exiting the market. In the short run, the individual supply curve for a firm is the portion of the marginal cost curve that corresponds to prices greater than and equal to the shutdown price of $2. In perfect competition, the market supply curve is just the horizontal sum of all the firms’ marginal cost curves. At prices below $2, firms will not produce in the short run. At $2, firms will produce a total of 3 yo-yos per firm x 100 firms = 300 yo-yos. Therefore, (300, 2) is a point on the short-run industry supply curve. Similarly, at $3, firms will produce a total of 4 yo-yos per firm x 100 firms = 400 yo-yos. Therefore, (400, 3) is another point on the short-run industry supply curve. Use similar calculations to plot the rest of the market supply curve. The market price of $3 corresponds to a point on the MC curve that is between the firm’s ATC and AVC. Therefore, in the short run, although the firm cannot cover all its fixed costs, it will generate enough revenue to cover all its variable costs. The firm will ignore the fixed costs and produce in the short run. In the long run, the firm will shut down and exit the industry, since $3 is below the break-even (long-run exit) price. Because the firm can never cover its fixed costs, and the business runs at a loss, it is profit maximizing to exit the market.| | A firm’s short-run decision is not solely based on whether or not it incurs profits or losses. It depends on whether the market price is below or above its shutdown price, or minimum average variable cost. As long as the market price is above average variable cost, a firm will produce in the short run since it is covering its variable cost. In cases where there are fixed costs and price is equal to or just above the shutdown price, this will mean that the average total cost is higher than the market price, which leads to losses. However, in the short run, a firm’s decision to produce is independent of any fixed costs, so even if it cannot cover fixed costs and earn profits, it will produce nonetheless. If the price exceeds the marginal cost of increasing output by one unit, the firm will produce another unit. It keeps increasing its output until it reaches a point where increasing output by one more unit has a marginal cost that is greater than marginal revenue (in this case, the going market price). In this example, the marginal cost of increasing output from five to six units is less than the market price. The marginal cost of increasing output from six to seven units is greater than the market price. So, the firm stops at six units. This is its profit-maximizing quantity. The table below summarizes the firm’s marginal cost. The firm considers its minimum variable cost in its short-run production decisions. It will produce in the short run if the market price is equal to or greater than its minimum average variable cost. That is, as long as it can cover its variable costs, it will produce in the short run. The firm considers its minimum average total cost in its long-run production decisions. It will produce in the long run if the market price is equal to or greater than its minimum average total cost; that is, as long as the firm at least breaks even in its economic profits. The table below summarizes the firm’s average variable cost, which equals average total cost since there is no fixed cost The initial long-run equilibrium was at the intersection of the initial industry short-run supply and demand curves (S100 and D1) at coordinates (4,000, 65). After the change in consumer preferences, the long-run equilibrium is at the intersection of the new industry short-run supply and demand curves (S70 and D2) at coordinates (2,000, 60). The long-run industry supply curve will pass through these long-run equilibrium points, so you should have placed each of the black points (X symbols) at these coordinates. Notice that this industry is an increasing-cost industry. That is, an increase in demand increases factor prices. Firms stop entering the market and expanding production at a higher equilibrium market price because the price at which zero profit is made has risen. Therefore, the long-run supply curve is upward sloping. In the long run, firms in a perfectly competitive market enter and exit the market without barriers, and they make zero economic profit. The reasoning goes as follows: if firms make economic profits, new firms will enter the market, shifting the market supply curve to the right until the market price has fallen enough such that no firm is earning economic profit and there is no longer incentive to enter. If firms are incurring economic losses, firms will exit the market, the market supply curve will shift to the left, and the market price will rise until firms make zero economic profit. So, in the long run, firms are operating at the â€Å"break-even† point, or the minimum of the short-run average total cost curve AND the long-run average total cost curve.