tag:blogger.com,1999:blog-83700451133546420552024-03-05T14:20:55.096-08:00Scootland Economicsunderstanding economics..Scootland Economicshttp://www.blogger.com/profile/15761305973067659959noreply@blogger.comBlogger29125tag:blogger.com,1999:blog-8370045113354642055.post-85917695664597910492015-10-30T07:22:00.001-07:002015-10-30T07:22:31.631-07:00A Brief Look Into No Man's Sky<iframe allowfullscreen="" frameborder="0" height="270" src="https://www.youtube.com/embed/gCUOvQgeYBM" width="480"></iframe>Anonymoushttp://www.blogger.com/profile/11427354001272238488noreply@blogger.com0tag:blogger.com,1999:blog-8370045113354642055.post-4877476083703798782015-10-29T10:05:00.001-07:002015-10-29T10:05:48.343-07:00Fallout Classic Edition Part 1: The Basics<iframe allowfullscreen="" frameborder="0" height="344" src="https://www.youtube.com/embed/1EOBOGBsFd0" width="459"></iframe>Anonymoushttp://www.blogger.com/profile/11427354001272238488noreply@blogger.com0tag:blogger.com,1999:blog-8370045113354642055.post-55517834480520967492015-10-28T20:26:00.001-07:002015-10-28T20:26:03.538-07:00Magic: The Gathering - The Markets<iframe allowfullscreen="" frameborder="0" height="344" src="https://www.youtube.com/embed/X855TGkB-RU" width="459"></iframe>Anonymoushttp://www.blogger.com/profile/11427354001272238488noreply@blogger.com0tag:blogger.com,1999:blog-8370045113354642055.post-75776360681942751812015-10-28T06:10:00.001-07:002015-10-28T06:10:03.382-07:00Fallout: New Vegas Old World Blues LP Part 13: The "Good" Ending<iframe allowfullscreen="" frameborder="0" height="270" src="https://www.youtube.com/embed/7lhKBybymXA" width="480"></iframe>Anonymoushttp://www.blogger.com/profile/11427354001272238488noreply@blogger.com0tag:blogger.com,1999:blog-8370045113354642055.post-48888147711260501332015-10-27T09:26:00.001-07:002015-10-27T09:26:34.168-07:00Fallout: New Vegas Old World Blues LP Part 12: Giant Robot Scorpion Battle<iframe allowfullscreen="" frameborder="0" height="270" src="https://www.youtube.com/embed/pLfrTtdNHb8" width="480"></iframe>Anonymoushttp://www.blogger.com/profile/11427354001272238488noreply@blogger.com0tag:blogger.com,1999:blog-8370045113354642055.post-6111129278653718862015-10-25T15:52:00.001-07:002015-10-25T15:52:39.784-07:00Fallout: New Vegas Old World Blues LP Part 11: Collecting The Satellite ...<iframe allowfullscreen="" frameborder="0" height="270" src="https://www.youtube.com/embed/WXnUPtiQyFA" width="480"></iframe>Anonymoushttp://www.blogger.com/profile/11427354001272238488noreply@blogger.com0tag:blogger.com,1999:blog-8370045113354642055.post-60381138657189453092015-10-25T15:24:00.001-07:002015-10-25T15:24:49.793-07:00Fallout: New Vegas Old World Blues LP Part 9: The Kennels<iframe allowfullscreen="" frameborder="0" height="270" src="https://www.youtube.com/embed/aIJRcDRCgGw" width="480"></iframe>Anonymoushttp://www.blogger.com/profile/11427354001272238488noreply@blogger.com0tag:blogger.com,1999:blog-8370045113354642055.post-39896757678923211232013-02-14T07:39:00.003-08:002013-02-14T07:40:36.416-08:00Introduction to Supply Chain Management<br />
<div align="center" class="MsoNormal" style="margin: 0in 0in 0.0001pt; text-align: center; text-indent: 0in;">
<span style="font-family: "Times New Roman","serif"; font-size: 12.0pt;">Abstract<o:p></o:p></span></div>
<div align="center" class="MsoNormal" style="margin: 0in 0in 0.0001pt; text-align: center; text-indent: 0in;">
<br /></div>
<div align="left" class="MsoNormal" style="line-height: 200%; margin: 0in 0in 0.0001pt; text-indent: 0in;">
<span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; line-height: 200%;">Supply chain management
is a vital course to every company, in which it keeps many major departments
operating through careful planning and action.
With that being said, this does not make up for one individual
department, rather several departments working together. While researching supply chain management, it
was discovered that there are several essential components which strategize and
analyze several factors that apply to a company. It was also discovered that supply chain
management can also be customized as it operates on different systems. In a given scenario, a hospital is seeking to
improve its supply chain management.
After analyzing a push, pull, and hybrid system, it was determined that
a hybrid system would best suite the organization due to its complexity in both
products and services being offered. <o:p></o:p></span></div>
<div align="left" class="MsoNormal" style="margin: 0in 0in 0.0001pt; text-indent: 0in;">
<br /></div>
<div align="left" class="MsoNormal" style="margin: 0in 0in 0.0001pt; text-indent: 0in;">
<br /></div>
<div align="left" class="MsoNormal" style="margin: 0in 0in 0.0001pt; text-indent: 0in;">
<br /></div>
<div align="left" class="MsoNormal" style="margin: 0in 0in 0.0001pt; text-indent: 0in;">
<br /></div>
<div align="center" class="MsoNormal" style="margin: 0in 0in 0.0001pt; text-align: center; text-indent: 0in;">
<span style="font-family: 'Times New Roman', serif; font-size: 12pt;">Introduction to Supply Chain Management<o:p></o:p></span></div>
<div align="center" class="MsoNormal" style="margin: 0in 0in 0.0001pt; text-align: center; text-indent: 0in;">
<br /></div>
<div align="center" class="MsoNormal" style="margin: 0in 0in 0.0001pt; text-align: center; text-indent: 0in;">
<br /></div>
<div align="left" class="MsoNormal" style="line-height: 200%; margin: 0in 0in 0.0001pt; text-indent: 0in;">
<span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; line-height: 200%;"> Supply chain management (SCM) can be applied to nearly
every industry. Particularly for the
healthcare industry, </span><span style="font-family: 'Times New Roman', serif; font-size: 12pt; line-height: 200%;">a local hospital is inquiring about the company’s ability to
improve its logistics and supply chain while maintaining its customer
value. It currently has a rudimentary,
localized operation in place without an overall governance or strategy process
in place. The company has requested an
initial briefing on modern supply chain management techniques. For this scenario, understanding several
method of SCM is presented as a basic understanding through essential
components. Also, how SCM can be used
through a push, pull, or hybrid system.
Once the basics are understood, managers can determine the best method
and how to implement it into the company's business practices. <o:p></o:p></span></div>
<div align="left" class="MsoNormal" style="line-height: 200%; margin: 0in 0in 0.0001pt; text-indent: 0in;">
<span style="font-family: 'Times New Roman', serif; font-size: 12pt; line-height: 200%;"> To
begin with, the company should understand SCM and what it does. SCM</span><span style="font-family: 'Times New Roman', serif; font-size: 12pt; line-height: 200%;"> is the
study, analysis, planning, and control of all the component processes
associated with creating a product or service and distributing it to customers,
(AIU Online, 2012). There have been
several considerations that SCM is the same as logistics management, however
this is only a part to a whole. Logistics
management is responsible for activities related with the transportation of
goods and/or service. On the other hand,
SCM is much more broad as it is responsible for many duties such as: planning,
vendors, supplies, customers, and strategies. Some also confuse operations management with
SCM, but that form of management is more focused towards manufacturing and the
company as a whole. Since SCM is so
complex, that there are many tools and methods used. The essential components are planning,
sourcing, manufacturing, delivering, and network return management.<o:p></o:p></span></div>
<div align="left" class="MsoNormal" style="line-height: 200%; margin: 0in 0in 0.0001pt; text-indent: 0in;">
<span style="font-family: 'Times New Roman', serif; font-size: 12pt; line-height: 200%;"> The planning component develops a
strategy to help manage sourcing, production, and logistics affiliated with
products or services. During the
planning phase, the plan should analysis the best opportunity for resources,
necessary requirements, and how it will be implemented without interfering with
current operations. Using the Theory of
Constraints (TOC) can be an effective approach during this phase. A basic example for the planning phase is a manufacturing
facility that has recently acquired a new production contract- new customer and
new product type. Here the SCM will need to strategize a plan for
the sourcing, manufacturing, and the delivery components.<o:p></o:p></span></div>
<div align="left" class="MsoNormal" style="line-height: 200%; margin: 0in 0in 0.0001pt; text-indent: 0in;">
<span style="font-family: 'Times New Roman', serif; font-size: 12pt; line-height: 200%;"> The sourcing component is this
process that requires the planning phase to be well established. This will determine supply sources for the
company's products and/or services, as well as the associated schedule and
payment plan, (AIU Online, 2012). In
addition, the sourcing phase also manages an evaluation on supplier metrics and
the company's current inventory. For an
example situation, SCM may determine which supplier to use for a new acquired
production contract on a new type of product.<o:p></o:p></span></div>
<div align="left" class="MsoNormal" style="line-height: 200%; margin: 0in 0in 0.0001pt; text-indent: 0in;">
<span style="font-family: 'Times New Roman', serif; font-size: 12pt; line-height: 200%;"> Next is the manufacturing component. This component is based on scheduling actual
production activities- production, staging, and testing of products and/or
services. Production will also require managing
the inventory and logistics necessary to complete and transport products and/or
services to customers. Since testing is present,
quality management such as ISO 9000 or Total Quality Management (TQM) could be
included</span><span style="font-family: 'Times New Roman', serif; font-size: 12pt; line-height: 200%;">. An example for this component could be how SCM
will schedule the prototype product into the current manufacturing processes
(staging and testing) without conflicting the regular production goals.<o:p></o:p></span></div>
<div align="left" class="MsoNormal" style="line-height: 200%; margin: 0in 0in 0.0001pt; text-indent: 0in;">
<span style="font-family: 'Times New Roman', serif; font-size: 12pt; line-height: 200%;"> The
final components are the delivery and network return. For the delivery components, it works to
deliver the order fulfillment to the customer by selecting the right
transportation method and determine the best route.<strong> </strong>An example would be, if the new customer is
located abroad and the manufacturing company needs to use international
transportation methods to deliver the product (air or boat freight delivery). In addition, manage an electronic system that
receives customers orders. During the
network return component, this process manages a way of return for defective products. Typical methods used for this process include</span><span style="font-family: 'Times New Roman', serif; font-size: 12pt; line-height: 200%;"> transportation, restocking, customer credit, and disposition of
defective items, (AIU Online, 2012).
Although this can become a very complex component, an example would be
how a cellular company operates a customer service line for customers with
defective products or errors in the cellular plan. If a product is defective and covered under warranty,
SCM would be responsible on how to retrieve the product from the customer and how
to send the customer a new product. In
regards to errors in the cellular plan, SCM would manage how to implement
credit into the customer account.<o:p></o:p></span></div>
<div align="left" class="MsoNormal" style="line-height: 200%; margin: 0in 0in 0.0001pt; text-indent: 0in;">
<span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; line-height: 200%;"> After understanding the basics and essential components
to SCM, consider what systems to use, either being a pull, P\push, or hybrid
system. To begin with, the push system,
also known as Make-to-stock (MTS), places product upstream in the supply chain
where it is required, ("Explaining Push and Pull Models", 2007). This most commonly occurs to ensure consumer demand
is fulfilled prior to their order requests.
This type of forecasting predicts the anticipated demand in efforts
customers orders or to increase current inventory. Below is an example diagram for the
operational flow to a push system:<o:p></o:p></span></div>
<div align="left" class="MsoNormal" style="margin: 0in 0in 0.0001pt; text-indent: 0in;">
<br /></div>
<div align="center" class="MsoNormal" style="margin: 0in 0in 0.0001pt; text-align: center; text-indent: 0in;">
<span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; mso-bidi-language: HI; mso-no-proof: yes;"><!--[if gte vml 1]><v:shapetype id="_x0000_t75" coordsize="21600,21600"
o:spt="75" o:preferrelative="t" path="m@4@5l@4@11@9@11@9@5xe" filled="f"
stroked="f">
<v:stroke joinstyle="miter"/>
<v:formulas>
<v:f eqn="if lineDrawn pixelLineWidth 0"/>
<v:f eqn="sum @0 1 0"/>
<v:f eqn="sum 0 0 @1"/>
<v:f eqn="prod @2 1 2"/>
<v:f eqn="prod @3 21600 pixelWidth"/>
<v:f eqn="prod @3 21600 pixelHeight"/>
<v:f eqn="sum @0 0 1"/>
<v:f eqn="prod @6 1 2"/>
<v:f eqn="prod @7 21600 pixelWidth"/>
<v:f eqn="sum @8 21600 0"/>
<v:f eqn="prod @7 21600 pixelHeight"/>
<v:f eqn="sum @10 21600 0"/>
</v:formulas>
<v:path o:extrusionok="f" gradientshapeok="t" o:connecttype="rect"/>
<o:lock v:ext="edit" aspectratio="t"/>
</v:shapetype><v:shape id="Picture_x0020_0" o:spid="_x0000_i1026" type="#_x0000_t75"
alt="push model.jpg" style='width:443.25pt;height:118.5pt;visibility:visible;
mso-wrap-style:square'>
<v:imagedata src="file:///C:\Users\scottii\AppData\Local\Temp\msohtmlclip1\01\clip_image001.jpg"
o:title="push model"/>
</v:shape><![endif]--><!--[if !vml]--><!--[endif]--></span><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt;"><o:p></o:p></span></div>
<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiG9efRsdPMX6UlHaUd0TXQmgI6PjL-dkKQ07j7Lax7BzmLijku_oyUXIYTfPA00FN0K3-7xX-V9r3LeLqn8fqCAxD0PjkwWOFGEoKofj9lIhyphenhyphenaL6AfWPg4VBwQI0ZYdA1zzocVGb8yI-c/s1600/Untitled1.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="174" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiG9efRsdPMX6UlHaUd0TXQmgI6PjL-dkKQ07j7Lax7BzmLijku_oyUXIYTfPA00FN0K3-7xX-V9r3LeLqn8fqCAxD0PjkwWOFGEoKofj9lIhyphenhyphenaL6AfWPg4VBwQI0ZYdA1zzocVGb8yI-c/s640/Untitled1.png" width="640" /></a></div>
<div align="left" class="MsoNormal" style="line-height: 200%; margin: 0in 0in 0.0001pt; text-indent: 0in;">
<span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; line-height: 200%;"> <o:p></o:p></span></div>
<div align="left" class="MsoNormal" style="line-height: 200%; margin: 0in 0in 0.0001pt; text-indent: 0in;">
<span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; line-height: 200%;"> Next is the pull system, which is also known as
Make-to-order (MTO). The pull system is
the exact opposite to a push system. As
a push system builds up inventory before actual demand occurs, the pull system
regulates production to occur only during which a customer order has been processed. This type of system can also be viewed as a
Just In Time (JIT) manufacturing process, ("Push-pull manufacturing",
2008). Below is a example to a basic
pull system:<o:p></o:p></span></div>
<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhe7cQVqJvX5Xofw7PEfD2db6AwpUrAGenjdFFKniLSpXU7i9quvoW6WC3Imm1vtUMLXY-0r5_OGoYLviEqgZa8E56Q7RrkPpNjSYlC_YnGQ8xQVcVzLd0fwwCqaDBvQvJdjx1YKvqmDK8/s1600/Untitled.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="203" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhe7cQVqJvX5Xofw7PEfD2db6AwpUrAGenjdFFKniLSpXU7i9quvoW6WC3Imm1vtUMLXY-0r5_OGoYLviEqgZa8E56Q7RrkPpNjSYlC_YnGQ8xQVcVzLd0fwwCqaDBvQvJdjx1YKvqmDK8/s640/Untitled.png" width="640" /></a></div>
<div align="center" class="MsoNormal" style="margin: 0in 0in 0.0001pt; text-align: center; text-indent: 0in;">
<br /></div>
<div align="center" class="MsoNormal" style="margin: 0in 0in 0.0001pt; text-align: center; text-indent: 0in;">
<br /></div>
<div align="left" class="MsoNormal" style="line-height: 200%; margin: 0in 0in 0.0001pt; text-indent: 0in;">
<span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; line-height: 200%;"> Finally there is the hybrid system, that combines the use
of both a push and a pull system. SCM
managers may use the forecasting of a push system to determine what would be
necessary to stock up on. On the
contrary, products and/or services with an average or low demand may be utilized
through a the pull system. Specifically
for a hospital seeking to improve its <span style="background-color: white; background-position: initial initial; background-repeat: initial initial;">logistics
and supply chain, this would be the best system to implement into the
organization. By analyzing the common
relationships of patients aid, overall, this can help determine what is to be
utilized as a push or pull system. For
example, consider the most common problem a patient has are reparatory illnesses;
by using a push system, the hospital can stock up on inventory and staff in
order to aid each patient as often as possible.
For potential patients with a rare cases of illnesses, such as a
venomous snake bite, the hospital can maintain a limited supply of inventory
and rush patients to other facilities if necessary. Also, in regards to the logistics, the
hospital may want to analyze how often ambulances rush patients into the
facility. Consider days may be more
demanding than nights, then a push system could be applied during the day and a
pull system at night.</span><o:p></o:p></span></div>
<div align="left" class="MsoNormal" style="line-height: 200%; margin: 0in 0in 0.0001pt; text-indent: 0in;">
<span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; line-height: 200%;"> In conclusion, SCM has many components and shouldn't be
confused for one single department. The
basic components to SCM, in order, are planning,
sourcing, manufacturing, delivering, and network return management. Planning determines how SCM will be
developed. Sourcing specializes in the
supplies that will be used.
Manufacturing prepares the production activities. Delivering is developed to transport products
and/or services to customers. Finally
network return management determines what to do in case the customer sends back
defective products. Specially how SCM is
operated, there can be a pull system where the company begins production once
an order has been processed; or a push system, which increase inventory before
an order has been processed; or a hybrid system combining both a push and a
pull. <o:p></o:p></span></div>
<div align="left" class="MsoNormal">
<br /></div>
<div align="left" class="MsoNormal" style="margin-left: 0in; text-indent: 0in;">
<br /></div>
<div align="center" class="MsoNormal" style="margin-left: 0in; text-align: center; text-indent: 0in;">
<span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; line-height: 115%;">References<o:p></o:p></span></div>
<div align="left" class="MsoNormal" style="margin-bottom: 0.0001pt;">
<span style="font-family: "Times New Roman","serif"; font-size: 12.0pt;">AIU Online. (2012). MGMT450: Unit 1: Supply
Chain Management and Purchasing. [Course Materials]. Retrieved from AIU
Online Virtual Campus. Production Planning and Quality Management: <span style="background-color: white; background-position: initial initial; background-repeat: initial initial;">MGMT450-1204B-01</span> website.<o:p></o:p></span></div>
<div align="left" class="MsoNormal" style="margin-bottom: 0.0001pt;">
<br /></div>
<div align="left" class="MsoNormal" style="margin-bottom: 0.0001pt;">
<span style="font-family: "Times New Roman","serif"; font-size: 12.0pt;">Explaining push and pull models. (2007). Retrieved
from, http://kongandallan.com/en/us_pdf/EPPS0711U.pdf<o:p></o:p></span></div>
<div align="left" class="MsoNormal" style="margin-bottom: 0.0001pt;">
<br /></div>
<span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; line-height: 115%; mso-ansi-language: EN-US; mso-bidi-language: AR-SA; mso-fareast-font-family: Calibri; mso-fareast-language: EN-US; mso-fareast-theme-font: minor-latin;">Push-pull
manufacturing. (2008). Retrieved from, http://www.lean-manufacturing-japan.com/scm-terminology/push-pull-manufacturing.html</span>Anonymoushttp://www.blogger.com/profile/11427354001272238488noreply@blogger.com0tag:blogger.com,1999:blog-8370045113354642055.post-7167872854666288232012-08-21T11:24:00.000-07:002012-08-21T11:24:07.253-07:00Statiswha? The basics of statistics<br />
<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEj0681X3nDcKmaFtTJXT5347AAzAktcD3mVKO2YXj71v5VMMjmgznkMiMGyVyJX4Jka-Blgx-yzU5xeXeyXO0sNvOxMXLVlIq-4H7xa_NvZOkUGNd5MPfB70FKqnl5LjnRPQIauCnfzt2o/s1600/internet-statistics_1.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><span style="font-family: Times, Times New Roman, serif; font-size: large;"><img border="0" height="225" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEj0681X3nDcKmaFtTJXT5347AAzAktcD3mVKO2YXj71v5VMMjmgznkMiMGyVyJX4Jka-Blgx-yzU5xeXeyXO0sNvOxMXLVlIq-4H7xa_NvZOkUGNd5MPfB70FKqnl5LjnRPQIauCnfzt2o/s320/internet-statistics_1.jpg" width="320" /></span></a></div>
<div class="MsoNormal" style="margin: 0in 0in 0.0001pt; text-align: center; text-indent: 0in;">
<span style="background-color: white;"><span style="font-family: Times, Times New Roman, serif; font-size: large;"><br /></span></span></div>
<div align="left" class="MsoNormal" style="margin: 0in 0in 0.0001pt; text-indent: 0in;">
<span style="background-color: white;"><span style="font-family: Times, Times New Roman, serif; font-size: large;"><br /></span></span></div>
<div align="left" class="MsoNormal" style="margin: 0in 0in 0.0001pt; text-indent: 0in;">
<span style="background-color: white;"><span style="font-family: Times, Times New Roman, serif; font-size: large;">Statistical
analysis is often used to investigate theories by different forms of data
collection in which management can determine a solution. By collecting data, researchers can use
methods of quantitative, qualitative, mixed, or action research. These methods are each different from one
another and each provide a specific purpose in the role of the
investigation. This also opens new
discoveries based on certain areas that can be improved in which researchers
are unaware of.<o:p></o:p></span></span></div>
<div align="left" class="MsoNormal" style="margin: 0in 0in 0.0001pt; text-indent: 0in;">
<span style="background-color: white;"><span style="font-family: Times, Times New Roman, serif; font-size: large;"> One example of <strong><span style="font-weight: normal; mso-bidi-font-weight: bold;">qualitative research, is a
survey. The Institute of Medicine’s
Committee on the Future of Nursing provided data through surveying nurses in
order to support <i>The Future of Nursing:
Leading Change, Advancing Health </i>(2011)<i>. </i>A<i> </i>part
of this study was used to determine healthcare requirements in the
workforce. In the study, 3,360
individual RN's were surveyed and this did not necessarily mean there were
3,360 jobs, rather there was 3,000 individual RN's who had one single job and
the other 360 had more than one job.<o:p></o:p></span></strong></span></span></div>
<div align="left" class="MsoNormal" style="margin: 0in 0in 0.0001pt; text-indent: 0in;">
<span style="font-family: Times, Times New Roman, serif; font-size: large;"><strong><span style="background-color: white; font-weight: normal;"> The
pro's to using a survey offers a variety of ways to conduct the study. Researchers often conduct surveys through mail,
telephone, or by interviewing, </span></strong><span style="background-color: white;">(Bluman,
2010). A con to surveying is that some volunteers
may not be completely honest, which can affect how the data is determined. To prevent this, researchers may provide
incentives to volunteers, such as cash, gift cards, or other creative means to
encourage honesty. Another con is that
mailed surveys can become a lengthy process due to the slow response time.<o:p></o:p></span></span></div>
<div align="left" class="MsoNormal" style="margin: 0in 0in 0.0001pt; text-indent: 0in;">
<span style="font-family: Times, Times New Roman, serif; font-size: large;"><span style="background-color: white;"> Observational data collection is a
form of <strong><span style="font-weight: normal; mso-bidi-font-weight: bold;">quantitative
research in which researchers merely observe subjects in a controlled
environment and record the natural existence of each variable. One example 8,176 patients were categorized
according to the estimated giomeruiar filtration rate of 4 groups, (</span></strong></span>El-Menyar, Zubaid,
Sulaiman, Singh, Al Thani, Akbar, & Al Suwaidi<strong><span style="background-color: white; background-position: initial initial; background-repeat: initial initial; font-weight: normal;">). The purpose of the study was to
observe and determine the affects of Chronic Renal Insufficiency (CRI) on In-hospital
major adverse cardiac events across the Acute Coronary Syndrome (ACS) spectrum.<o:p></o:p></span></strong></span></div>
<div align="left" class="MsoNormal" style="margin: 0in 0in 0.0001pt; text-indent: 0in;">
<span style="font-family: Times, Times New Roman, serif; font-size: large;"><strong><span style="background-color: white; font-weight: normal;"> The
pro's to an observational data collection is due to how the data is naturally
collected by researchers either personally observing the data, video or audio recording,
or both, </span></strong><span style="background-color: white;">(Editorial Board, 2011)<strong><span style="font-weight: normal; mso-bidi-font-weight: bold;">. The con's to </span></strong>observational
research is can sometimes rely on live subjects who may act accordingly to how
their being watched or recorded. To
achieve the best research data, researchers may create an environment where
subjects do not know they are being studied.<strong><span style="font-weight: normal; mso-bidi-font-weight: bold;"><o:p></o:p></span></strong></span></span></div>
<div align="left" class="MsoNormal" style="margin: 0in 0in 0.0001pt; text-indent: 0in;">
<br /></div>
<div align="left" class="MsoNormal" style="margin: 0in 0in 0.0001pt; text-indent: 0in;">
<strong><span style="background-color: white; font-weight: normal;"><span style="font-family: Times, Times New Roman, serif; font-size: large;">References:<o:p></o:p></span></span></strong></div>
<div align="left" class="MsoNormal" style="margin: 0in 0in 0.0001pt; text-indent: 0in;">
<strong><span style="background-color: white; font-weight: normal;"><span style="font-family: Times, Times New Roman, serif; font-size: large;"><br /></span></span></strong></div>
<div align="left" class="MsoNormal" style="margin-bottom: 0.0001pt;">
<span style="font-family: Times, Times New Roman, serif; font-size: large;">El-Menyar, A., Zubaid, M., Sulaiman, K., Singh, R.,
Al Thani, H., Akbar, M., and Al Suwaidi, J. (2010)</span></div>
<div align="left" class="MsoNormal" style="margin-bottom: 0.0001pt;">
<span style="font-family: Times, Times New Roman, serif; font-size: large;">. </span></div>
<div align="left" class="MsoNormal" style="margin-bottom: 0.0001pt;">
<span style="font-family: Times, Times New Roman, serif; font-size: large;">In-hospital Major Clinical
Outcomes in Patients With Chronic Renal Insufficiency Presenting With Acute </span></div>
<div align="left" class="MsoNormal" style="margin-bottom: 0.0001pt;">
<span style="font-family: Times, Times New Roman, serif; font-size: large;">Coronary Syndrome: Data From a Registry of 8176 Patients.Mayo Clinic
Proceedings, 85(4), 332-340. doi:10.4065/mcp.2009.0513. From AIU Virtual
Library.<o:p></o:p></span></div>
<div align="left" class="MsoNormal" style="margin-bottom: 0.0001pt;">
<span style="font-family: Times, Times New Roman, serif; font-size: large;"><br /></span></div>
<div align="left" class="MsoNormal" style="margin-bottom: 0.0001pt;">
<span style="font-family: Times, Times New Roman, serif; font-size: large;"><span lang="IT">Spetz, J., &
Kovner, C. T. (2011). </span>How
Should We Collect Data on the Nursing Workforce?. Nursing
Economic$, 29(2), 97-100. From AIU Virtual Library.<o:p></o:p></span></div>
<div align="left" class="MsoNormal" style="margin-bottom: 0.0001pt;">
<span style="font-family: Times, Times New Roman, serif; font-size: large;"><br /></span></div>
<div align="left" class="MsoNormal" style="margin-bottom: 0.0001pt;">
<span style="font-family: Times, Times New Roman, serif; font-size: large;"><span style="background-color: white;">Bluman, A. (2010).<span class="apple-converted-space"> </span><em>Elementary Statistics: A Step by
Step Approach.</em><span class="apple-converted-space"> </span>(5<sup>th</sup><span class="apple-converted-space"> </span>ed.). Upper Saddle River, NJ: Prentice
Hall</span><o:p></o:p></span></div>
<div align="left" class="MsoNormal" style="margin-bottom: 0.0001pt;">
<span style="background-color: white;"><span style="font-family: Times, Times New Roman, serif; font-size: large;"><br /></span></span></div>
<div align="left" class="MsoNormal" style="margin-bottom: 0.0001pt;">
<span style="background-color: white;"><span style="font-family: Times, Times New Roman, serif; font-size: large;">Editorial Board.
(2011).<span class="apple-converted-space"> </span><em>Elementary
Statistics.</em><span class="apple-converted-space"><i> </i></span>(1<sup>st</sup><span class="apple-converted-space"> </span>ed.). Words of Wisdom, LLC</span></span><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt;"><o:p></o:p></span></div>
Anonymoushttp://www.blogger.com/profile/11427354001272238488noreply@blogger.com0tag:blogger.com,1999:blog-8370045113354642055.post-52970669573416407272012-08-08T13:46:00.000-07:002012-08-08T13:46:15.228-07:00TechnoBeer<br />
<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhqJQad0d_jg3aXDnDhqshL5Wa0O7E1luALnBWcBs2KZ2AhezjhJ76CrotC3QDZ87UeWT8IMU8Q4wqQ0iT2VagOjiHt388PF1xkU5RGtbuCQe4tICJjD1K2yavHaFbYyFDqa2EXiT3PDCk/s1600/beer-collection.jpeg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhqJQad0d_jg3aXDnDhqshL5Wa0O7E1luALnBWcBs2KZ2AhezjhJ76CrotC3QDZ87UeWT8IMU8Q4wqQ0iT2VagOjiHt388PF1xkU5RGtbuCQe4tICJjD1K2yavHaFbYyFDqa2EXiT3PDCk/s1600/beer-collection.jpeg" /></a></div>
<div class="MsoNormal" style="margin-left: 0in; text-align: left; text-indent: 0in;">
<span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; line-height: 115%;"><br /></span></div>
<div align="left" class="MsoNormal" style="margin-left: 0in; text-align: left; text-indent: 0in;">
<span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; line-height: 115%;">The food and drug industry is one of the most widely
known industries to utilize a inventory management system, specifically a fix
quantity system. A fixed quantity system
is where is where inventory is ordered on the same amount, for whenever
needed. These type os systems need
advanced amounts of technology to update and receive data on how much is need
and when it is needed. Computers and
wireless technology are usually necessary to create the basic system.<o:p></o:p></span></div>
<div align="left" class="MsoNormal" style="margin-left: 0in; text-align: left; text-indent: 0in;">
<span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; line-height: 115%;"> An
example company would be Anheuser-Busch. Anheuser-Busch's BudNet, is a nationwide
network that provides sales representatives and delivery drivers a detailed
report on sales, shelf space, inventory and the displays in each store, (2012). These system allows store managers to simply
input their current inventory throughout the store on a handheld device, and is
then plugged into a wireless device that uploads the data to Anheuser-Busch'
BudNet. From there, sales reports can
begin the purchasing orders, and then given the report on what needs to be
delivered to the drivers. Once the
drivers deliver the product, managers sign off on the report and are billed for
it.<o:p></o:p></span></div>
<div align="left" class="MsoNormal" style="margin-left: 0in; text-align: left; text-indent: 0in;">
<span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; line-height: 115%;"> As
far as other inventories, this does not affiliate with Anheuser-Busch. Store managers may carry their own safety
stock if needed. However, due to
Anheuser-Busch complex system, this can break down sales of each individual
store based on age, education, ethnicity, politics, and sexual orientation. Moreover, this is the main reason why
Anheuser-Busch hold a share of $75 billion in the US market. This system alone have doubled profits for
over 20 consecutive quarters.<o:p></o:p></span></div>
<div align="left" class="MsoNormal" style="margin-left: 0in; text-align: left; text-indent: 0in;">
<span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; line-height: 115%;"> In
my own opinion, I strongly believe this system is the most vital part of the
businesses operations management.
Without it, this could drive up transportation costs, since delivery
drivers would constantly deliver products, and provide inaccurate sales to
customers since they would not know when they need their product and how much
they would need. This statistical
analysis, based on customer orders, has driven the company in profit margins
not solely being known for the product, but how consumer receive the product.<o:p></o:p></span></div>
<div align="left" class="MsoNormal" style="margin-left: 0in; text-align: left; text-indent: 0in;">
<br /></div>
<div align="left" class="MsoNormal" style="margin-left: 0in; text-align: left; text-indent: 0in;">
<span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; line-height: 115%;">References:<o:p></o:p></span></div>
<div align="left" class="MsoNormal" style="text-align: left;">
<span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; line-height: 115%;">Heizer, J.,
Render, B. (2012). Operations Management (10th ed.). New Jersey: Prentice Hall.<o:p></o:p></span></div>Anonymoushttp://www.blogger.com/profile/11427354001272238488noreply@blogger.com0tag:blogger.com,1999:blog-8370045113354642055.post-52189343097611589252012-07-30T11:29:00.000-07:002012-07-30T11:29:04.384-07:00The life of an asset management contractor<br />
<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEheRZlXZJX4gBp_V1VArEno6r7DopojPeGxZODDjsJu2jNU24QBJOyYbqoA87bIiFDu3KMhAEKNLm035Pwatedg6Tck_GalWlmaaEcWjySfRRXpy4AbF410Aoa_8e_1AEgUBRr1GsHns0U/s1600/contractor.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="298" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEheRZlXZJX4gBp_V1VArEno6r7DopojPeGxZODDjsJu2jNU24QBJOyYbqoA87bIiFDu3KMhAEKNLm035Pwatedg6Tck_GalWlmaaEcWjySfRRXpy4AbF410Aoa_8e_1AEgUBRr1GsHns0U/s320/contractor.jpg" width="320" /></a></div>
<div align="left" class="MsoNormal" style="margin: 0in 0in 0.0001pt; text-align: left; text-indent: 0in;">
<span style="font-family: "Times New Roman","serif"; font-size: 12.0pt;"><br /></span></div>
<div align="left" class="MsoNormal" style="margin: 0in 0in 0.0001pt; text-align: left; text-indent: 0in;">
<span style="font-family: "Times New Roman","serif"; font-size: 12.0pt;"><br /></span></div>
<div align="left" class="MsoNormal" style="margin: 0in 0in 0.0001pt; text-align: left; text-indent: 0in;">
<span style="font-family: "Times New Roman","serif"; font-size: 12.0pt;">As an asset management
contractor, fulfilling clients demands are very specific and technical due to
the expectation. When clients seek to
reduce cost, increase revenue, or develop processes to improve performance,
there are no simple agreements to any given projects. For a typical project, the client request a
total quote . This includes all
materials, labor, and/or special cost.
All quotes are to include future costs, depending on how complex the
project is. Once the quote has been
submitted, it is review by the department manager then approved by that
managers, the plant manager, and the plant controller. Once a purchase order has been submitted to
the contracting company, the project begins on a specific date. From here on, the client expects the project
to be carried out with extreme professionalism, top quality, and daily updates
to the progression for the project.
Unfortunately, there are no universal procedures due to each project
being unique, however this is a general idea to what the client expects.<o:p></o:p></span></div>
<div align="left" class="MsoNormal" style="margin: 0in 0in 0.0001pt; text-align: left; text-indent: 0in;">
<span style="font-family: "Times New Roman","serif"; font-size: 12.0pt;"> As
example project would be the most recent project I've had to develop. The issue is that the plant is unable to
focus on its quality reject and scrap reduction program since the facility is
still in a launch phase. Due to this, it
is costing the facility over $1.6 million every six months. There is a process developed (not named), the
main issue is that i isn't being enforced or maintained throughout the facility. In my own development for this project, I
simply created everything from scratch beginning on where to collect the
rejected materials, how to identify each defects, dissembling each defected
product, documenting each part (salvaged or scrapped), and finally gaining
approval for salvaged materials. This
step by step process would be similar to an Operation Description Sheet (ODS
document), (2012). This document creates
a standard process for an operation in which team members would need to follow. Applying a Six Sigma and Kaizen philosophy
develops and evolves this project and any other.<o:p></o:p></span></div>
<div align="left" class="MsoNormal" style="margin: 0in 0in 0.0001pt; text-align: left; text-indent: 0in;">
<span style="font-family: "Times New Roman","serif"; font-size: 12.0pt;"> To
maintain a good business relationship between contractor and client, a Total
Quality Management System (TQM) is commonly used every day. The basic model for a TQM is customer focus,
planning process, process management, process improvement, total participation,
(2010). This model is enforced every
day. Without it, or anything similar,
could lack the professionalism for the contractor to deliver what the client needs.<o:p></o:p></span></div>
<div align="left" class="MsoNormal" style="margin: 0in 0in 0.0001pt; text-align: left; text-indent: 0in;">
<span style="font-family: "Times New Roman","serif"; font-size: 12.0pt;"> Personally,
I've witnessed many other contractors in the facility that have not lasted very
long. Whether it was project management,
enforcing quality standards for any project, or simply not improving project
development. To put things into perspective,
consider the client is offering to pay a contractor to manage and maintain a
project. If a contractor fails to do
this, then the client is not receiving the results of what they are paying for. The same would apply to anyone who buy a
project and the product breaks when used for its designed purpose. Since I've used this type of system, my
company has been the longest contractor there for over two year, beginning with
2 employees to now at 22.<o:p></o:p></span></div>
<div align="left" class="MsoNormal" style="margin: 0in 0in 0.0001pt; text-align: left; text-indent: 0in;">
<br /></div>
<div align="left" class="MsoNormal" style="margin: 0in 0in 0.0001pt; text-align: left; text-indent: 0in;">
<span style="font-family: "Times New Roman","serif"; font-size: 12.0pt;">References:<o:p></o:p></span></div>
<h2 align="left" style="background: white; text-align: left;">
<span style="color: windowtext; font-family: "Times New Roman","serif"; font-size: 12.0pt; font-weight: normal; line-height: 115%; mso-bidi-font-weight: bold;">TQE.com. (2010). Total Quality Management. Retrieved from, http://www.tqe.com/TQM.html</span></h2>
<h2 align="left" style="background: white; text-align: left;">
<span style="font-size: 12pt; font-weight: normal; text-indent: -0.5in;">Acronymfinder.com.
(2012). What does ODS stand for? Retrieved from, </span><span style="font-size: 12pt; font-weight: normal; text-indent: -0.5in;">http://www.acronymfinder.com/Operation-Description-Sheet-(ODS).html</span></h2>Anonymoushttp://www.blogger.com/profile/11427354001272238488noreply@blogger.com2tag:blogger.com,1999:blog-8370045113354642055.post-25697624119469011502012-07-25T19:03:00.001-07:002012-07-25T19:03:39.275-07:00"Ladies and gentlemen, we are going global" (as the company gasps with disappointment)<br />
<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEi0PLZAfd2zEVJsmmgAcPAhvuqpciRQ_HlxPVq0e4KXMdImwXZlV-eT11jAoOFIya4pKh2qm1431_lZ7vUPktwiZNq7lVk093aC3eWe7CKarBkO-h7JTUiPYuqRl5dkhzv-SZvnBZa3FWk/s1600/features_global.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="280" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEi0PLZAfd2zEVJsmmgAcPAhvuqpciRQ_HlxPVq0e4KXMdImwXZlV-eT11jAoOFIya4pKh2qm1431_lZ7vUPktwiZNq7lVk093aC3eWe7CKarBkO-h7JTUiPYuqRl5dkhzv-SZvnBZa3FWk/s640/features_global.jpg" width="640" /></a></div>
<div class="MsoNormal" style="margin: 0in 0in 0.0001pt; text-align: center; text-indent: 0in;">
<br /></div>
<div align="left" class="MsoNormal" style="margin: 0in 0in 0.0001pt; text-align: left; text-indent: 0in;">
<span style="font-family: "Times New Roman","serif"; font-size: 12.0pt;"><br /></span></div>
<div align="left" class="MsoNormal" style="margin: 0in 0in 0.0001pt; text-align: left; text-indent: 0in;">
<span style="font-family: "Times New Roman","serif"; font-size: 12.0pt;"><br /></span></div>
<div align="left" class="MsoNormal" style="margin: 0in 0in 0.0001pt; text-align: left; text-indent: 0in;">
<span style="font-family: "Times New Roman","serif"; font-size: 12.0pt;"> Since globalization has spread
throughout the world, businesses of all types, including both large and small,
have increased their interest to incorporate operations to outside
nations. Such reasons may include saving
on material costs, enter a Free-Trade Zone, or simply reduce the cost of
labor. For whichever reason, these
global businesses help provide jobs to nations where employment is low and also
help reduce the prices in the given markets.
The most important reason why companies go global, is to develop a
business system that can better sustain the livelihood while competing with
other businesses in a similar industry.<o:p></o:p></span></div>
<div align="left" class="MsoNormal" style="margin: 0in 0in 0.0001pt; text-align: left; text-indent: 0in;">
<span style="font-family: "Times New Roman","serif"; font-size: 12.0pt;"> To
better understand why businesses go global, let's consider cost to produce an
item. Before producing a final item,
certain supplies must be purchased. In
addition, there labor to produce is also a necessary cost. Whether nationally purchased, or
international purchased, there are business strategies that can lots of
money. For example, there is an American
company that manufactures and sells airplanes, (2012). If produced nationally, national wages must
be considered which can be quite expensive compared to wages in an undeveloped
country such as Columbia. However, the cost
for materials are much higher in the same country. Therefore the company can save lots of money by
purchasing materials nationally then shipping these materials internationally, and
finally, manufacturing the product in Columbia at a cheaper wage.<o:p></o:p></span></div>
<div align="left" class="MsoNormal" style="margin: 0in 0in 0.0001pt; text-align: left; text-indent: 0in;">
<span style="font-family: "Times New Roman","serif"; font-size: 12.0pt;"> If
globalization is a common place between two countries within relevant
industries, or countries that seek to trade with each other based on what is
produced, the governments may establish a Free Trade agreement where importing
and exporting will have little or no taxes, (2012). Just like on the example above where an
American company works closely with Columbia, this could be considered a Free
Trade zone, depending on the trade agreement.
Logically, it would seem accurate being the American company's interest
to work with Columbia. Again, if the
global business wasn't saving or reducing costs, or to simply find means to
increase profits, then there would be no reason to globalize if taxes on
importing and exporting where a common factor.<o:p></o:p></span></div>
<div align="left" class="MsoNormal" style="margin: 0in 0in 0.0001pt; text-align: left; text-indent: 0in;">
<span style="font-family: "Times New Roman","serif"; font-size: 12.0pt;"> On
the contrary to how globalization can reduce prices on products and the costs
to make them, it can affect a nation's micro economy. Particularly to domestic jobs, some jobs can
be outsourced to underdeveloped countries, much like the example described
above. Consider, prior to moving to
Columbia, the manufacturing operations where based in America. After going global, these jobs will no longer
become available in America. The results
are an increase in unemployment- this reduces consumer spending. Overall, consumer spending can greatly impact
a micro economy and disrupt markets for airplanes. Some critics even argue that Free Trade
doesn't work because there are more
failing economies now than before Free Trade, (2010). However, most companies see an opportunity
for foreign investment, and can profit in their short-term and mid-term goals.<o:p></o:p></span></div>
<div align="left" class="MsoNormal" style="margin: 0in 0in 0.0001pt; text-align: left; text-indent: 0in;">
<span style="font-family: "Times New Roman","serif"; font-size: 12.0pt;"> In
conclusion, some companies go global because they seek an opportunity to reduce
production cost and product prices, and an area of Free Trade. Depending on the industry, competition can
push companies into globalization, such as the aviation industry, or
electronics as another example. Although
going global may seem great a company, this can potentially have negative effects
on an economy where jobs are outsourced for cheaper labor. This disrupts consumer spending, affecting
nearly all industries<o:p></o:p></span></div>
<div align="left" class="MsoNormal" style="margin-left: 0in; text-align: left; text-indent: 0in;">
<br /></div>
<div align="left" class="MsoNormal" style="margin-left: 0in; text-align: left; text-indent: 0in;">
<b><u><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; line-height: 115%;">References:<o:p></o:p></span></u></b></div>
<div align="left" class="MsoNormal" style="text-align: left;">
<span class="apple-style-span"><span style="background-color: white; background-position: initial initial; background-repeat: initial initial; font-family: 'Times New Roman', serif; font-size: 12pt; line-height: 115%;">Cobb Jr.,
J. (2010). Free Trade does not work. Retrieved from, </span></span><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; line-height: 115%;">http://www.globalresearch.ca/index.php?context=va&aid=20379<span class="apple-style-span"><span style="background-color: white; background-position: initial initial; background-repeat: initial initial;"><o:p></o:p></span></span></span></div>
<div align="left" class="MsoNormal" style="text-align: left;">
<br /></div>
<div align="left" class="MsoNormal" style="text-align: left;">
<span class="apple-style-span"><span style="background-color: white; background-position: initial initial; background-repeat: initial initial; font-family: 'Times New Roman', serif; font-size: 12pt; line-height: 115%;">AIU Online.
(2012). MGMT410: Unit 1:</span></span><span class="apple-converted-space"><span style="background-color: white; background-position: initial initial; background-repeat: initial initial; font-family: 'Times New Roman', serif; font-size: 12pt; line-height: 115%;"> </span></span><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; line-height: 115%;">Global Operations
Management<span class="apple-converted-space"><span style="background-color: white; background-position: initial initial; background-repeat: initial initial;"> </span></span><span class="apple-style-span"><span style="background-color: white; background-position: initial initial; background-repeat: initial initial;">[Power Point Presentation]. Retrieved from
AIU Online Virtual Campus.</span></span><span class="apple-converted-space"><span style="background-color: white; background-position: initial initial; background-repeat: initial initial;"> </span></span>Global Operations Management<span class="apple-style-span"><span style="background-color: white; background-position: initial initial; background-repeat: initial initial;">:</span></span><span class="apple-converted-space"><span style="background-color: white; background-position: initial initial; background-repeat: initial initial;"> </span></span>MGMT415-1202A-06
<span class="apple-style-span"><span style="background-color: white; background-position: initial initial; background-repeat: initial initial;">Instructor
Files</span></span><o:p></o:p></span></div>
<div align="left" class="MsoNormal" style="text-align: left;">
<span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; line-height: 115%;"><br /></span></div>
<div align="left" class="MsoNormal" style="text-align: left;">
<span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; line-height: 115%;">Investopedia.com.
(2012). Free trade area. Retrieved from,
http://www.investopedia.com/terms/f/free_trade_area.asp#axzz1q5BUFqxS<o:p></o:p></span></div>
<div align="left" class="MsoNormal" style="text-align: left;">
<br /></div>Anonymoushttp://www.blogger.com/profile/11427354001272238488noreply@blogger.com2tag:blogger.com,1999:blog-8370045113354642055.post-30787645160280677282012-07-21T18:41:00.001-07:002012-07-21T18:41:16.692-07:00Samsung Galaxy S3 or iPhone 5?<br />
<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjSmX0YxqKmyf1Tx0G0KvQPeY5X7Mlbav2TRH7BXm_pTRdAmmJhlkOO8f3NwdCcgPztx9KqS4-T12hMn9e6JEBT3Cry893iiEK_kPFPX69CVeKeYtIWkMlUK-DbpPTWdiiCVexChuujQ_U/s1600/Untitled.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="187" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjSmX0YxqKmyf1Tx0G0KvQPeY5X7Mlbav2TRH7BXm_pTRdAmmJhlkOO8f3NwdCcgPztx9KqS4-T12hMn9e6JEBT3Cry893iiEK_kPFPX69CVeKeYtIWkMlUK-DbpPTWdiiCVexChuujQ_U/s320/Untitled.jpg" width="320" /></a></div>
<div class="MsoNormal" style="margin: 0in 0in 0.0001pt; text-align: left; text-indent: 0in;">
<br /></div>
<div align="left" class="MsoNormal" style="margin-left: 0in; text-align: left; text-indent: 0in;">
<span style="font-family: 'Times New Roman', serif; font-size: 12pt;"> Innovation
is define by a product of means to which it introduces a breakthrough in
performance, quality, price, and general purpose. Depending on the
industry, innovation may be common, or may be very rare to see such
products. In regards to the technology industry, with a focus on
mobile technology, the Samsung Galaxy S3 is among the most famous and the most
innovative phone for the worldwide consumer market in current
times. Before details on the S3 are provided, let us see how and why
Samsung has been able to produce such innovative technology, that can threaten
other markets in the desktop and laptop areas. </span><span style="font-family: 'Times New Roman', serif; font-size: 13.5pt;"><o:p></o:p></span></div>
<div align="left" class="MsoNormal" style="margin-left: 0in; text-align: left; text-indent: 0in;">
<span style="font-family: 'Times New Roman', serif; font-size: 12pt;"> It
began with the Samsung Galaxy S, which was a smart phone provided by most major
carriers. Although at the time, the Galaxy S performance wasn't
better than the Apple iPhone 4, yet it succeeded the iPhone 3 and
3G. The first Galaxy S performance was similar to the iPhone 4
(GSMareana.com, 2012), however with the success of the Apple iPhone
3G, many consumers stayed loyal as an Apple consumer with 75 million
units sold worldwide (Kumparak, 2010), compared to the Galaxy S at 30 million,
(Albanesius, 2011). Not to forget, Blackberries line of smartphones.
However with the lacked development to mobile apps. (applications for
short, and often a common term), Blackberry's sales have been lost to the Apple
market and Android (Google Play in current times).</span><span style="font-family: 'Times New Roman', serif; font-size: 13.5pt;"><o:p></o:p></span></div>
<div align="left" class="MsoNormal" style="margin-left: 0in; text-align: left; text-indent: 0in;">
<span style="font-family: 'Times New Roman', serif; font-size: 12pt;"> As
Samsung uped their competition to the Galaxy S2, as did Apple with the iPhone
4S, the comparisons between the two, gave the Galaxy S2 almost a 50% higher
advantage, (Compare-cellphones.org). Now with the Galaxy S3 out on
the market, this phone is tremendously outperforming the Apple iPhone 4S,
(Compare-cellphones.org, 2012). Apple is expected to release the
iPhone 5, but no set date has yet to be released. With Samsung
Galaxy series, there is little doubt that this company will abandon this
product for quite some time. Their continuing to upgrade and develop
new technology will bring in no doubt bring more innovative products to
consumers.</span><span style="font-family: 'Times New Roman', serif; font-size: 13.5pt;"><o:p></o:p></span></div>
<div align="left" class="MsoNormal" style="margin-left: 0in; text-align: left; text-indent: 0in;">
<span style="font-family: 'Times New Roman', serif; font-size: 12pt;"> The
only downfall to technology is how quickly new and more advanced technology is
updated within a year's time. If Apple decides to release the iPhone
5, this could threaten sales potentials for the Galaxy S3. Many predict
these two companies to be rivals in the mobile technology industry, as each
fluctuates in leading sales, but this is not uncommon in the technology sector. Moreover,
as the smartphone are becoming more and more powerful, with new technology
almost every year, this could also threaten the laptop and desktop industries,
since these smartphone are becoming more like mobile computers rather than a
phone.</span><span style="font-family: 'Times New Roman', serif; font-size: 13.5pt;"><o:p></o:p></span></div>
<div align="left" class="MsoNormal" style="margin-left: 0in; text-align: left; text-indent: 0in;">
<br /></div>
<div align="left" class="MsoNormal" style="margin-left: 0in; text-align: left; text-indent: 0in;">
<span style="font-family: 'Times New Roman', serif; font-size: 12pt;">References:</span><span style="font-family: 'Times New Roman', serif; font-size: 13.5pt;"><o:p></o:p></span></div>
<div align="left" class="MsoNormal" style="margin-left: 0in; text-align: left; text-indent: 0in;">
<span style="font-family: 'Times New Roman', serif; font-size: 12pt;">Albanesius, C. (2011). Samsung Galaxy S Sales
Hit 30 Million. Retrieved from,
http://www.pcmag.com/article2/0,2817,2394782,00.asp#fbid=yJL_Tc-aX7ll</span><span style="font-family: 'Times New Roman', serif; font-size: 13.5pt;"><o:p></o:p></span></div>
<div align="left" class="MsoNormal" style="margin-left: 0in; text-align: left; text-indent: 0in;">
<span style="font-family: 'Times New Roman', serif; font-size: 12pt;"><br /></span></div>
<div align="left" class="MsoNormal" style="margin-left: 0in; text-align: left; text-indent: 0in;">
<span style="font-family: 'Times New Roman', serif; font-size: 12pt;">Kumparak, G. (2010). Apple sold 14.1 million
iPhones last quarter, over 70 million since launch. http://techcrunch.com/2010/10/18/apple-sold-14-1-million-iphones-last-quarter-over-70-million-since-launch/</span><span style="font-family: 'Times New Roman', serif; font-size: 13.5pt;"><o:p></o:p></span></div>
<div align="left" class="MsoNormal" style="margin-left: 0in; text-align: left; text-indent: 0in;">
<span style="font-family: 'Times New Roman', serif; font-size: 12pt;"><br /></span></div>
<div align="left" class="MsoNormal" style="margin-left: 0in; text-align: left; text-indent: 0in;">
<span style="font-family: 'Times New Roman', serif; font-size: 12pt;">Compare-cellphones.org. (2012).
Apple iPhone 4S VS Samsung Galaxy S II. Retrieved from,
http://www.compare-cellphones.org/Apple-iPhone-4S-vs-Samsung-Galaxy-S-II</span><span style="font-family: 'Times New Roman', serif; font-size: 13.5pt;"><o:p></o:p></span></div>
<div align="left" class="MsoNormal" style="margin-left: 0in; text-align: left; text-indent: 0in;">
<span style="font-family: 'Times New Roman', serif; font-size: 12pt;"><br /></span></div>
<div align="left" class="MsoNormal" style="margin-left: 0in; text-align: left; text-indent: 0in;">
<span style="font-family: 'Times New Roman', serif; font-size: 12pt;">Compare-cellphones.org. (2012).
Apple iPhone 4S VS Samsung Galaxy S III. Retrieved from,
http://www.compare-cellphones.org/Samsung-Galaxy-S-III-Quad-Core---32-GB---International-edition-vs-Apple-iPhone-4S</span><span style="font-family: 'Times New Roman', serif; font-size: 13.5pt;"><o:p></o:p></span></div>
<div align="left" class="MsoNormal" style="margin-left: 0in; text-align: left; text-indent: 0in;">
<span style="font-family: 'Times New Roman', serif; font-size: 12pt;"><br /></span></div>
<div align="left" class="MsoNormal" style="margin-left: 0in; text-align: left; text-indent: 0in;">
<span style="font-family: 'Times New Roman', serif; font-size: 12pt;">GSMarene.com. (2012). Apple iPhone 4. Retrieved
from, http://www.gsmarena.com/apple_iphone_4-3275.php</span><span style="font-family: 'Times New Roman', serif; font-size: 13.5pt;"><o:p></o:p></span></div>
<div align="left" class="MsoNormal" style="margin-left: 0in; text-align: left; text-indent: 0in;">
<span style="font-family: 'Times New Roman', serif; font-size: 12pt;"><br /></span></div>
<div align="left" class="MsoNormal" style="margin-left: 0in; text-align: left; text-indent: 0in;">
<span style="font-family: 'Times New Roman', serif; font-size: 12pt;">GSMarena.com. (2012). Samsung I9000 Galaxy S.
Retrieved from, http://www.gsmarena.com/samsung_i9000_galaxy_s-3115.php</span><span style="font-family: 'Times New Roman', serif; font-size: 13.5pt;"><o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
Anonymoushttp://www.blogger.com/profile/11427354001272238488noreply@blogger.com5tag:blogger.com,1999:blog-8370045113354642055.post-87396349049580202982012-07-16T17:39:00.000-07:002012-07-16T17:47:18.002-07:00Tips on how to reduce your monthly living expenses.<h2>
<b style="background-color: white;"><span style="color: #111111; font-family: Georgia, serif; font-size: small;">The details below provides a guideline on how to reduce your
monthly living expenses, by making some simple sacrifices. Although some of the sacrifices may not be
suited for most, nevertheless, the intentions for the passage is to provide
readers with a perspective on where and how to save on your monthly living
expenses.</span></b></h2>
<div align="left" class="MsoNormal" style="background: white; line-height: 13.75pt; margin-bottom: .0001pt; margin: 0in; text-align: left; text-indent: 0in;">
<span style="color: #111111; font-family: Georgia, serif; font-size: 9.5pt;">
<o:p></o:p></span></div>
<div align="left" class="MsoNormal" style="background: white; margin-bottom: 6.95pt; margin-left: 0in; margin-right: 0in; margin-top: 20.85pt; mso-line-height-alt: 13.75pt; mso-outline-level: 3; text-align: left; text-indent: 0in;">
<b><span style="color: #111111; font-family: Helvetica, sans-serif; font-size: 15pt;">1. Begin with the necessities of life (food,
drink, housing)- 76% reduced.<o:p></o:p></span></b></div>
<div align="left" class="MsoNormal" style="background: white; line-height: 13.75pt; margin-bottom: 17.6pt; margin-left: 0in; margin-right: 0in; margin-top: 0in; text-align: left; text-indent: 0in;">
<span style="color: #111111; font-family: Georgia, serif; font-size: 9.5pt;">The necessary means to live is to eat and
drink, and to sleep. Most of us,
probably already have a place to call home, so this section will mostly how to
reduce the monthly expenses for food and drink.
Beginning with drink, water is the most vital source we need to survive,
moreover it is also the most abundant and easily attainable from most developed
nations. However, not all public
accessible is satisfying or safe for us.
Sanitary chemicals from water treatment plants are a normal process to
produce clean water. There, the public accessible
water, is 100% clean for a natural taste.
This is one reason why bottled water differs from treated water. For the readers who are more concerned with
healthy living, consider buying a water filtration system, such as Pur. <o:p></o:p></span></div>
<div align="left" class="MsoNormal" style="background: white; line-height: 13.75pt; margin-bottom: 17.6pt; margin-left: 0in; margin-right: 0in; margin-top: 0in; text-align: left; text-indent: 0in;">
<span style="color: #111111; font-family: Georgia, serif; font-size: 9.5pt;">With water in perspective, do we really need
any other drink? No. The purpose of this, is to eliminate the
luxuries we take for granted in life.
Colas, juices, teas, etc., are all considered luxury items unless
medically prescribed by a physician.<o:p></o:p></span></div>
<div align="left" class="MsoNormal" style="background: white; line-height: 13.75pt; margin-bottom: 17.6pt; margin-left: 0in; margin-right: 0in; margin-top: 0in; text-align: left; text-indent: 0in;">
<span style="color: #111111; font-family: Georgia, serif; font-size: 9.5pt;">Next, food is topic. Again, just as water was previously detailed,
food applies to the same when it come sto luxury items. There are only a few vitamins and minerals
the body requires in order to function properly, without getting sick. Mineral grains are among the best to help
supply sources. Rices, noodles, and
other such grains can be sufficient enough.
Moreover, if certain person need more vitamins/minerals, a multi-vitamin
can help meet the standards for the body.<o:p></o:p></span></div>
<div align="left" class="MsoNormal" style="background: white; line-height: 13.75pt; margin-bottom: 17.6pt; margin-left: 0in; margin-right: 0in; margin-top: 0in; text-align: left; text-indent: 0in;">
<span style="color: #111111; font-family: Georgia, serif; font-size: 9.5pt;">With food in perspective, do we really need
that 12 oz. rib eye? No. All other foods
can thus be defined as an luxury item, expect sources of sugar. The body also needs adequate amounts of sugar
as well as protein to maintain proper functionality. The question again is, do we need a 1 gallon
tub of ice cream? No, cheap sources of
sugar can be obtained from discount brand sugar cookies. For protein, eggs are a perfect sources.<o:p></o:p></span></div>
<div align="left" class="MsoNormal" style="background: white; line-height: 13.75pt; margin-bottom: 17.6pt; margin-left: 0in; margin-right: 0in; margin-top: 0in; text-align: left; text-indent: 0in;">
<span style="color: #111111; font-family: Georgia, serif; font-size: 9.5pt;">To put some numbers on the table, I, a single
male, was previously spending $120+ per month on food and drink. My diet consisted of sandwiches of turkey and
provolone cheese, spicy Italian
sausages, chicken wings, pasta, ice cream cakes, beer, green tea, and a few
more items. After taking into consider
the above philosophy, I was able to reduce my monthly food expenses to a mere
$28.8 per month. This does not include
the price for multi-vitamins. See figure
1 for example.<o:p></o:p></span></div>
<div align="left" class="MsoNormal" style="background: white; line-height: 13.75pt; margin-bottom: 17.6pt; margin-left: 0in; margin-right: 0in; margin-top: 0in; text-align: left; text-indent: 0in;">
<span style="color: #111111; font-family: Georgia, serif; font-size: 9.5pt;">Figure 1:<o:p></o:p></span></div>
<div align="left" class="MsoNormal" style="background: white; line-height: 13.75pt; margin-bottom: 17.6pt; margin-left: 0in; margin-right: 0in; margin-top: 0in; text-align: left; text-indent: 0in;">
<div class="separator" style="clear: both; text-align: left;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhjfLe5Fd-4HdsoH2TcmH4QO6BgMPei75d4Vs5EZSjUKalSjWfHTT1xWKaYUsrl2CQu0IC7wMG_LrLJeklYmkgsAzozY3KPm9hl2nkNkU44ZNZNWlbYQKvGTdtqjGambsvjPhK2sUnNBCQ/s1600/figure+1.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="386" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhjfLe5Fd-4HdsoH2TcmH4QO6BgMPei75d4Vs5EZSjUKalSjWfHTT1xWKaYUsrl2CQu0IC7wMG_LrLJeklYmkgsAzozY3KPm9hl2nkNkU44ZNZNWlbYQKvGTdtqjGambsvjPhK2sUnNBCQ/s640/figure+1.jpg" width="640" /></a></div>
<br /></div>
<div align="left" class="MsoNormal" style="background: white; margin-bottom: 6.95pt; margin-left: 0in; margin-right: 0in; margin-top: 20.85pt; mso-line-height-alt: 13.75pt; mso-outline-level: 3; text-align: left; text-indent: 0in;">
<b><span style="color: #111111; font-family: Helvetica, sans-serif; font-size: 15pt;">2. Carpool, walk, public transit, etc- 100%
reduced. <o:p></o:p></span></b></div>
<div align="left" class="MsoNormal" style="background: white; line-height: 13.75pt; margin-bottom: 17.6pt; margin-left: 0in; margin-right: 0in; margin-top: 0in; text-align: left; text-indent: 0in;">
<span style="color: #111111; font-family: Georgia, serif; font-size: 9.5pt;">Considering I live right beside work and most
stores that I daily shop from, I was debating on if I needed my sports car or
not (2012 370z). Since I drove the car
for pleasure, my thoughts were that this car was a necessity in my life. Therefore, I decided to eliminate this extra
cost and walk, use public transit (not necessarily needed), or carpool with
friends.<o:p></o:p></span></div>
<div align="left" class="MsoNormal" style="background: white; line-height: 13.75pt; margin-bottom: 17.6pt; margin-left: 0in; margin-right: 0in; margin-top: 0in; text-align: left; text-indent: 0in;">
<span style="color: #111111; font-family: Georgia, serif; font-size: 9.5pt;">By eliminating my cost, I was able to write of
my car note, insurance, and the unpredictable price in gas. My car note alone, was $504/month, insurance
was about $151/month - full coverage with Progressive, and gas was estimated at
around $50/month since I like to drive super fast. Therefore, my total monthly cost for having a
car, was about $705/month. By selling my
car, I was able to reduce 100% of my car, and still manage to get where I
needed. See figure 1 for a visual
example.<o:p></o:p></span></div>
<div align="left" class="MsoNormal" style="background: white; line-height: 13.75pt; margin-bottom: 17.6pt; margin-left: 0in; margin-right: 0in; margin-top: 0in; text-align: left; text-indent: 0in;">
<span style="color: #111111; font-family: Georgia, serif; font-size: 9.5pt;">Figure 2:</span><br />
<span style="color: #111111; font-family: Georgia, serif; font-size: 9.5pt;"><br /></span><br />
<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhA1Hu-v1dtkMNspg03-_dRZePhpRJC0RNeZUayMsO-eqjy-qf588Msq9cuOd3DHTGvCR6WgTSvzCyQVgK_OleIkosbYquLbgi8wGRr_cJxGvfFDtLmNbCdJmDMTvg6kDHRSBWKUnNFALg/s1600/figure+1.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="282" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhA1Hu-v1dtkMNspg03-_dRZePhpRJC0RNeZUayMsO-eqjy-qf588Msq9cuOd3DHTGvCR6WgTSvzCyQVgK_OleIkosbYquLbgi8wGRr_cJxGvfFDtLmNbCdJmDMTvg6kDHRSBWKUnNFALg/s640/figure+1.jpg" width="640" /></a></div>
<br /></div>
<div align="left" class="MsoNormal" style="background: white; margin-bottom: 6.95pt; margin-left: 0in; margin-right: 0in; margin-top: 20.85pt; mso-line-height-alt: 13.75pt; mso-outline-level: 3; text-align: left; text-indent: 0in;">
<b><span style="color: #111111; font-family: Helvetica, sans-serif; font-size: 15pt;">3. Adjust the circuit breakers in your home-
30% reduced.<span class="msoIns"><ins></ins></span></span></b><br />
<b><span style="color: #111111; font-family: Helvetica, sans-serif; font-size: 15pt;"><span class="msoIns"><o:p></o:p></span></span></b></div>
<div class="MsoNormal" style="margin-left: 0in; text-indent: 0in;">
When electricity
comes to mind, I often wonder why electric companies are continuing to charge
me electric cost, while I'm not even there, despite everything in theory is
off. However, when I considered
everything was off, I was referring to the tv, lights, and HVAC. Little did I think about the refrigerator and
hot water heater. So, again, there
question here is, do we really need this?
For most of us yes, and some no.
On the contrary, for those who do need these expenses, at what
times? <br />
<br /></div>
<div class="MsoNormal" style="margin-left: 0in; text-indent: 0in;">
Keeping the same philosophy,
I considered to turn off the power to certain areas at certain times so that
that a majority of all electricity will be eliminated through my home while I'm
not there, or not using it. While I'm
away, I turn off the complete breakers to everything except the
refrigerator. This is to insure that
food will not become spoiled. <br />
<br /></div>
<div class="MsoNormal" style="margin-left: 0in; text-indent: 0in;">
In regards to the
water heater, how often do you need hot water?
For most of us, when we shower, wash dishes, clean, etc. Not while we aren't there. So why pay for unused electricity? </div>
<div class="MsoNormal" style="margin-left: 0in; text-indent: 0in;">
On a minor note, my
apartment is very well insulated, and can maintain a constant 76 degrees
Fahrenheit, so I absolutely never use my HVAC.<br />
<br /></div>
<div class="MsoNormal" style="margin-left: 0in; text-indent: 0in;">
Also, when using an
oven/stove, consider how many more times you will use it. On my current diet, I eat boiled eggs every
morning for breakfast. If I know I am
going to eat eggs in the future, wouldn't it be logical to cook several eggs at
once, instead of cooking one or two eggs each time?<br />
<br /></div>
<div class="MsoNormal" style="margin-left: 0in; text-indent: 0in;">
After implementing
this expense reduction philosophy, my power expense went from about $50/month
to about $35/month. Although this amount
may not seem like much to many readers, however ever dollar adds up to every
final expense. See below for the chart.<br />
<br /></div>
<div class="MsoNormal" style="margin-left: 0in; text-indent: 0in;">
Figure 3.</div>
<div class="MsoNormal" style="margin-left: 0in; text-indent: 0in;">
<br />
<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhT2rEBMfa3l9r1Yu2223uax51ab_5jFMOcXmswEXRE2XhdYqa_Xgu3yPMiEw8AWzRJo-TRZMNH2ikhUqdTar0-lVzABGZ3kx_WNApbqrn3-tcvN2Xy3aSff2joaIH7SzA4Dim1ugLxQ0U/s1600/figure+1.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="252" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhT2rEBMfa3l9r1Yu2223uax51ab_5jFMOcXmswEXRE2XhdYqa_Xgu3yPMiEw8AWzRJo-TRZMNH2ikhUqdTar0-lVzABGZ3kx_WNApbqrn3-tcvN2Xy3aSff2joaIH7SzA4Dim1ugLxQ0U/s640/figure+1.jpg" width="640" /></a></div>
<br /></div>
<div align="left" class="MsoNormal" style="background: white; margin-bottom: 6.95pt; margin-left: 0in; margin-right: 0in; margin-top: 20.85pt; mso-line-height-alt: 13.75pt; mso-outline-level: 3; text-align: left; text-indent: 0in;">
<b><span style="color: #111111; font-family: Helvetica, sans-serif; font-size: 15pt;">4. Conclusion<o:p></o:p></span></b></div>
<div class="MsoNormal" style="margin-left: 0in; text-indent: 0in;">
In conclusion, the
above provides some tips on how to help reduce your monthly living expenses. Although the tips may not be suited for
everyone, but for those who choose to participate can expect some financial
gain through the results. In figure 4,
is the total to how much I was able to reduce.
<br />
<br /></div>
<div class="MsoNormal" style="margin-left: 0in; text-indent: 0in;">
Figure 4.<br />
<div class="separator" style="clear: both; text-align: left;">
<br /></div>
<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEj8Gg-3w9XA8mAilXfys39jBa7uR7KmzBwM0JA3kiTeB1FG2pHFkeb4PqUfY8tRITBQ1tn6HtP-uGAXTpH4cwayzhQXs6SkJ3QdM8uZiab1uFFvqU3gMMoUSp2w_mvH9izG9yL4NEqSkn0/s1600/figure+1.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="308" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEj8Gg-3w9XA8mAilXfys39jBa7uR7KmzBwM0JA3kiTeB1FG2pHFkeb4PqUfY8tRITBQ1tn6HtP-uGAXTpH4cwayzhQXs6SkJ3QdM8uZiab1uFFvqU3gMMoUSp2w_mvH9izG9yL4NEqSkn0/s640/figure+1.jpg" width="640" /></a></div>
<div class="separator" style="clear: both; text-align: left;">
<br /></div>
<div class="separator" style="clear: both; text-align: center;">
<br /></div>
</div>
<div class="MsoNormal" style="margin-left: 0in; text-indent: 0in;">
If you have any
questions, concerns, or suggestions, feel free to contact me, and thank you for
taking the time to read my blog.</div>Anonymoushttp://www.blogger.com/profile/11427354001272238488noreply@blogger.com0tag:blogger.com,1999:blog-8370045113354642055.post-62979387954807319102011-12-06T04:58:00.000-08:002011-12-06T04:58:40.536-08:00Organization Impact of E-Business<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0in;"></div><div align="center" class="MsoNormal" style="text-align: center;"><span class="Apple-style-span" style="font-family: Times, 'Times New Roman', serif;"><strong><span style="line-height: 115%;">Organization Impact of E-Business</span></strong><strong><span style="font-weight: normal; line-height: 115%;"><o:p></o:p></span></strong></span></div><br />
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0in;"><u><span style="line-height: 115%;"><span class="Apple-style-span" style="font-family: Times, 'Times New Roman', serif;"><br />
</span></span></u></div><div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0in;"><u><span style="line-height: 115%;"><span class="Apple-style-span" style="font-family: Times, 'Times New Roman', serif;">Abstract:<o:p></o:p></span></span></u></div><div class="MsoNormal" style="margin-bottom: 0.0001pt;"><span class="Apple-style-span" style="font-family: Times, 'Times New Roman', serif;"><span class="Apple-style-span" style="line-height: 200%;">Online security seems to become a good industry to get involved with since there always has been a demand for online criminal </span><span class="Apple-style-span" style="line-height: 32px;">activity</span><span class="Apple-style-span" style="line-height: 200%;">. Companies are concerned with their privacy just the same as they are to protect their customers privacy. Unfortunately, hackers, crackers, and other offenders are always developing new ways to bypass security measures and do whatever their means. After reading this report, readers will understand the very importance of online security regardless how big a business is. In addition, readers will consider the basics to improve their e-business security from unwanted invaders.<o:p></o:p></span></span></div><div class="MsoNormal" style="line-height: 200%; margin-bottom: .0001pt; margin-bottom: 0in;"><br />
</div><div class="MsoNormal" style="line-height: 200%; margin-bottom: .0001pt; margin-bottom: 0in;"><span style="line-height: 200%;"><span class="Apple-style-span" style="font-family: Times, 'Times New Roman', serif;"> The purpose of enforcing security is kind of like playing to win the lottery. The more numbers you pay to chose, the more odds you have for winning. For security, the more security you enforce the less likely a problem will occur. Security should always be considered especially if it puts customers at risk. If a company is small then less security should be imposed. On the contrary, if a business is large then more security should be added. More specifically, the types of security vary from each industry. For example a bank website may have several levels of firewalls to block numerous attacks from intruders; where as a flower shop website may settle for HTTPS encryption for its customers. Nevertheless, security is an important risk assessment to take into thought due to rising identity fraud offenses and also hackers simply toying with a company’s personal property. In addition, despite how insecure internet security can be, most governments also use strict levels of internet security. This brings the topic to family’s food e-business and why security is important to think about.<o:p></o:p></span></span></div><div class="MsoNormal" style="line-height: 200%; margin-bottom: .0001pt; margin-bottom: 0in;"><span style="line-height: 200%;"><span class="Apple-style-span" style="font-family: Times, 'Times New Roman', serif;"> The family business has been running successful for many generations as far back as when the forefathers simply farming and providing to the community. The company has come a long way from a small farm, now providing to the entire North American continent with food commodities such as wheat, sugar, and corn. Currently, everything is technology and each order from a customer has to be processed online due to the company being so large. Moreover, the company must offer market prices for each commodity so these prices have to be updated on a daily basis. <o:p></o:p></span></span></div><div class="MsoNormal" style="line-height: 200%; margin-bottom: .0001pt; margin-bottom: 0in;"><span style="line-height: 200%;"><span class="Apple-style-span" style="font-family: Times, 'Times New Roman', serif;"> Lately, within the family there has been a debate on expenses for internet security which is currently being used. One brother argues that internet security is irrelevant and the company possesses no risk. Another brother favors security because it protects the company and its customer’s private information. Although the brother opposing online security feels that there is no threat, the other brother favoring online security has suggested some reasons and tools to how and why internet security should be enforced. These tools help protect from hackers, crackers, and viruses affecting the system and the customers private and/or financial information. If any data is compromised, then the company has the risks to lose many customers. Lack of security also affects the company’s servers, which many employees use to complete their work. Another problem is most of the company’s financial information is stored on the server. By not having a firewall to protect it, invaders have the ability to obtain this information at any time. More importantly, if an invader compromises the server, this opens the ability to change any of the company’s private data at will. For example, the going market price for a bundle of wheat is $100 and a highly respectable client orders 10,000 bundles of wheat. If the main server is left vulnerable due to lack of security, then invaders have the ability to change the price to $25 per bundle of wheat. Examples such as that put the company at risk from losing profits and the relationships to each customer. Even email poses a risk for internet security, which is why the company will need subscriptions to the leading anti-virus programs to prevent from malware, worms, and viruses that can harm the entire network.<o:p></o:p></span></span></div><div class="MsoNormal" style="line-height: 200%; margin-bottom: .0001pt; margin-bottom: 0in;"><br />
</div><div class="MsoNormal" style="line-height: 200%; margin-bottom: .0001pt; margin-bottom: 0in;"><span style="line-height: 200%;"><span class="Apple-style-span" style="font-family: Times, 'Times New Roman', serif;">Security Tools:<o:p></o:p></span></span></div><div class="MsoListParagraphCxSpFirst" style="line-height: 200%; margin-bottom: .0001pt; margin-bottom: 0in; mso-add-space: auto; mso-list: l0 level1 lfo1; text-indent: -.25in;"><!--[if !supportLists]--><span class="Apple-style-span" style="font-family: Times, 'Times New Roman', serif;"><span style="line-height: 200%;">·<span style="font: 7.0pt "Times New Roman";"> </span></span><!--[endif]--><span style="line-height: 200%;">HTTPS<o:p></o:p></span></span></div><div class="MsoListParagraphCxSpMiddle" style="line-height: 200%; margin-bottom: .0001pt; margin-bottom: 0in; mso-add-space: auto; mso-list: l0 level1 lfo1; text-indent: -.25in;"><!--[if !supportLists]--><span class="Apple-style-span" style="font-family: Times, 'Times New Roman', serif;"><span style="line-height: 200%;">·<span style="font: 7.0pt "Times New Roman";"> </span></span><!--[endif]--><span style="line-height: 200%;">Firewalls<o:p></o:p></span></span></div><div class="MsoListParagraphCxSpLast" style="line-height: 200%; margin-bottom: .0001pt; margin-bottom: 0in; mso-add-space: auto; mso-list: l0 level1 lfo1; text-indent: -.25in;"><!--[if !supportLists]--><span class="Apple-style-span" style="font-family: Times, 'Times New Roman', serif;"><span style="line-height: 200%;">·<span style="font: 7.0pt "Times New Roman";"> </span></span><!--[endif]--><span style="line-height: 200%;">Anti-Virus Programs<o:p></o:p></span></span></div><div class="MsoNormal" style="line-height: 200%; margin-bottom: .0001pt; margin-bottom: 0in;"><br />
</div><div class="MsoNormal" style="line-height: 200%; margin-bottom: .0001pt; margin-bottom: 0in;"><span style="line-height: 200%;"><span class="Apple-style-span" style="font-family: Times, 'Times New Roman', serif;"> Since our customers sign in on the website under a HTTPS (<span class="apple-style-span">Hypertext Transfer Protocol Secure) with SSL (Security Socket Layer) encryption, this safely keeps intruders from stealing their login information by the “server establishing a unique certificate” with the customer (</span></span></span><span class="apple-style-span"><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; line-height: 115%; mso-ansi-language: EN-US; mso-bidi-language: AR-SA; mso-fareast-font-family: Calibri; mso-fareast-language: EN-US; mso-fareast-theme-font: minor-latin;">Instantssl.com</span></span><span style="line-height: 200%;"><span class="Apple-style-span" style="font-family: Times, 'Times New Roman', serif;"><span class="apple-style-span">, 2011). HTTPS is standard when customers make online purchases.<o:p></o:p></span></span></span></div><div class="MsoNormal" style="line-height: 200%; margin-bottom: .0001pt; margin-bottom: 0in;"><span class="apple-style-span"><span style="line-height: 200%;"><span class="Apple-style-span" style="font-family: Times, 'Times New Roman', serif;"> Firewalls “deny or accept all messages and sites based on a list that is stored in the system” (Warrier, 2002). Since the network is connected to the internet, this helps prevent outside and unwanted communications from other networks. In other words, this helps our network avoid being attacked from an outside network.<o:p></o:p></span></span></span></div><div class="MsoNormal" style="line-height: 200%; margin-bottom: .0001pt; margin-bottom: 0in;"><span class="apple-style-span"><span style="line-height: 200%;"><span class="Apple-style-span" style="font-family: Times, 'Times New Roman', serif;"> Anti-Virus Programs will be needed in case an actual virus is placed in the system. It is possible that our very employees can accidently place a virus into the system simply by opening an infected document from their email and “multiple avenues of attacks can be employed through emails” (SANS, 2011). As soon as the anti-virus detects the problem, it automatically corrects it.<o:p></o:p></span></span></span></div><div class="MsoNormal" style="line-height: 200%; margin-bottom: .0001pt; margin-bottom: 0in;"><span class="apple-style-span"><span style="line-height: 200%;"><span class="Apple-style-span" style="font-family: Times, 'Times New Roman', serif;"> If the case of the tools is not being used on our current network, the company will risk major losses in customers and profits. However, if these tools are implemented and sustained, it will greatly reduce the risk of errors to security. Although the internet will never be fully secure due to offenders continuing their efforts to attack this and other networks, this shouldn’t intimidate the company. Profits are obtainable through the online business, as long as the proper security is placed. Granted, the very trade secret the company has mastered from the very first generation is sensitive to attackers. Thus, neglecting support for online security puts the entire company at risk.<o:p></o:p></span></span></span></div><div class="MsoNormal" style="line-height: 200%; margin-bottom: .0001pt; margin-bottom: 0in;"><span class="Apple-style-span" style="font-family: Times, 'Times New Roman', serif;"><span class="apple-style-span"><span style="line-height: 200%;"> In conclusion, security is now and will continue to be in the future a great importance and asset to e-businesses. As many risks there are involved, to not enforce internet security to an e-commerce business is too great to put on the company. Although online security may get expensive, the investment is worth taking. Depending on what type a business, online security should be administered thoughtfully. Internally, to prevent employee’s from accidently downloading viruses, and externally through the servers connecting to the internet to prevent unwanted intruders. </span></span><span style="line-height: 200%;"><o:p></o:p></span></span></div><div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0in;"><br />
</div><div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0in;"><span style="line-height: 115%;"><span class="Apple-style-span" style="font-family: Times, 'Times New Roman', serif;">References:</span></span></div><div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0in;"><span class="Apple-style-span" style="font-family: Times, 'Times New Roman', serif;"><br />
</span></div><div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0in;"><span class="Apple-style-span" style="font-family: Times, 'Times New Roman', serif;">Warrier, G. (2002). Security Issues on the internet<span class="apple-converted-space" style="text-indent: -48px;">. Retrieved from:</span></span></div><div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0in;"><span class="Apple-style-span" style="font-family: Times, 'Times New Roman', serif;">http://www.web-enable.com/industry/online_security.asp</span></div><div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0in;"><span class="Apple-style-span" style="font-family: Times, 'Times New Roman', serif;"><br />
</span></div><div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0in;"><span class="Apple-style-span" style="font-family: Times, 'Times New Roman', serif;">Instantssl.com. (2011). Https: What it is and how it works. Retrieved from:</span></div><div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0in;"><span class="Apple-style-span" style="line-height: 18px;"><span class="Apple-style-span" style="font-family: Times, 'Times New Roman', serif;">http://www.instantssl.com/ssl-certificate-products/https.html</span></span></div><div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0in;"><span class="Apple-style-span" style="line-height: 17px;"><span class="Apple-style-span" style="font-family: Times, 'Times New Roman', serif;"><br />
</span></span></div><div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0in;"><span class="Apple-style-span" style="line-height: 17px;"><span class="Apple-style-span" style="font-family: Times, 'Times New Roman', serif;">Top 20 internet security problems, threats and risks. (2011). Retrieved from:</span></span></div><div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0in;"><span class="Apple-style-span" style="line-height: 18px;"><span class="Apple-style-span" style="font-family: Times, 'Times New Roman', serif;">http://www.sans.org/top20/2007/#c3</span></span></div>Scootland Economicshttp://www.blogger.com/profile/15761305973067659959noreply@blogger.com2tag:blogger.com,1999:blog-8370045113354642055.post-75258346022702636022011-11-30T15:31:00.000-08:002011-11-30T15:31:39.487-08:00Electronic Marketing Resources<div align="center" class="MsoNormal" style="text-align: center;"><strong><span style="font-size: 18pt; line-height: 115%;">Electronic Marketing Resources</span></strong><strong><span style="font-size: 18pt; font-weight: normal; line-height: 115%;"><o:p></o:p></span></strong></div><div align="center" class="MsoNormal" style="text-align: center;"><strong><span style="font-size: 18pt; line-height: 115%;"><br />
</span></strong></div><div class="MsoNormal" style="text-align: center;"></div><div class="MsoNormal" style="text-align: left;"><b><u><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; line-height: 115%;">Abstract:<o:p></o:p></span></u></b></div><div class="MsoNormal" style="line-height: 200%; text-align: left;"><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; line-height: 200%;">The purpose of this report is for the reader to understand that technology is a necessity to nearly all aspects in modern day businesses to compete with others. Internally, technology is used to provide faster and cost efficient services to deliver the needs to the consumer. Externally, technology is offered for better response from the customer. Considering that technology evolves, competitors must evolve along with it to stay ahead of the competition. After reading this, readers will learn a simple process for business to business technology (B2B) and business to consumer technology (B2C) and how it’s implemented into the environment.<o:p></o:p></span></div><div class="MsoNormal" style="line-height: 200%; text-align: left;"><br />
</div><div class="MsoNormal" style="line-height: 200%; text-align: left;"><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; line-height: 200%;"> The food industry has come a long way from the traditions of placing an order and paying with cash. Now days, its common that customers have options to pay with credit/debit cards, or gift cards, to almost every restaurant they eat at. Moreover, restaurants have several technologies to better serve their customers with touch-screen LCD cash registers, wireless headsets to take orders, and for a luxury, some even offer free wireless internet. As an example, a new pastry company has been quite successful among its competitors, consider there is limited technology used within the building (phone, computer, cash register). The owners are now looking to invest towards better technology. These technologies are likely to increase profits due to offering more productive and cost-efficient strategies they now lack.<o:p></o:p></span></div><div class="MsoNormal" style="line-height: 200%; text-align: left;"><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; line-height: 200%;"> Currently, the pastry company is using a push button cash register, with external credit/debit card dial-up modem to checkout customers. The owners are looking to invest in a new technology for LCD touch-screen cash registers with internal credit/debit card cable modem. This new piece of equipment is pricy, however 100 times faster by comparison to the dial-up modem. The reason why owners are so interested is during “rush hour” service times, the dial-up modem is so slow that some customers often walkout. Another technology owners are interested in, is offering free wireless internet services because most of their competitors offer the same services. Between these B2C (Business to Consumer) technologies, they have the potential to increase customer interest for this pastry company. Although costly at first, profits are obtainable.<o:p></o:p></span></div><div class="MsoNormal" style="line-height: 200%; text-align: left;"><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; line-height: 200%;"> Aside from customers being able to pay faster or enjoying the internet while eating their pastries, owners are looking to invest in technologies that increase their productivity. One technology is an order-to-serve-timer. This timer starts as soon as an order is placed and stops once an order is delivered. An average time is tracked per day and per month. The reason why this is important is because goals and standards for order-to-serve times can be set, increasing service effort from employees. For example, as soon as an order is placed on the register, the chef can begin preparing the customer’s order and is likely to be finished before the order is paid out. For better communication between each employee, wireless headsets should be used if, for example, an order is changed. These two B2B (Business to Business) technologies can increase productivity, service, and customer satisfaction.<o:p></o:p></span></div><div class="MsoNormal" style="line-height: 200%; text-align: left;"><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; line-height: 200%;"> Outside of the pastry business, other industries implement new technologies into their environment as well. UBM Asia, a company that specializes in online trading for jewelry, rereleased their new portal in early 2011. M<span class="apple-style-span">anager of e-business,</span> Jerome Hainz said “<span class="apple-style-span">"We now offer a faster and simpler interface to find wholesale fashion, jewelry and engage with suppliers and manufacturers” (Asia Pulse, 2011). Another example, Saudi Post recently “launched the first e-shopping portal designed and developed by Link Development” (Saudi Economic Survey, 2010). Opposed to traditional walk-in shopping center, customers now have the opportunity to purchase their items online.<o:p></o:p></span></span></div><div class="MsoNormal" style="line-height: 200%; text-align: left;"><span class="apple-style-span"><span style="font-family: 'Times New Roman', serif; font-size: 12pt; line-height: 200%;"> If I had my own retail store, I would look into having an online store before a walk-in store. Marketing my products online would be much more effective than marketing to the local public. Given that I live in a small community, the target market is small, however compared to an online market, the target market is much larger. Developing online applications that scrape and place keywords throughout other webpage’s would be a great way for my products to be ranked higher in search engines. <o:p></o:p></span></span></div><div class="MsoNormal" style="line-height: 200%; text-align: left;"><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; line-height: 200%;"> In conclusion, regardless of what type of business there is, owners must always consider the use of technology to improve their business. Investing in B2B or B2C technology to improve the environment is almost a certainly to bring profits and allow opportunity to stay ahead of competition. The examples given from the pastry company scenario, is just a few of several ways how technology can improve company’s performance.<o:p></o:p></span></div><div class="MsoNormal" style="text-align: left;"><br />
</div><div class="MsoNormal" style="text-align: left;"><b><u><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; line-height: 115%;">References:<o:p></o:p></span></u></b></div><div class="MsoNormal" style="text-align: left;"><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; line-height: 115%;"> Leading jewelry, accessories B2B portal gets new look and feel. (2011, February 28). Asia Pulse. Retrieved from AIU online library, <span class="apple-style-span">ABI Inform Global<o:p></o:p></span></span></div><div class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: left;"><span style="font-family: 'Times New Roman', serif; font-size: 12pt;"> Saudi post launches first virtual mall. (2010, November 15). Saudi Economic Survey. </span><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt;">Retrieved from AIU online library, <span class="apple-style-span">ABI Inform Global</span></span><span style="font-family: 'Times New Roman', serif; font-size: 12pt;"><o:p></o:p></span></div>Scootland Economicshttp://www.blogger.com/profile/15761305973067659959noreply@blogger.com1tag:blogger.com,1999:blog-8370045113354642055.post-61474011933359107402011-11-21T10:34:00.000-08:002011-11-21T10:35:04.564-08:00Education as in e-Commerce?<div class="separator" style="clear: both; text-align: left;"></div><div class="MsoNormal" style="margin-bottom: 0.0001pt;"><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt;">Sir Shannon Scott Williams<o:p></o:p></span></div><div class="MsoNormal" style="margin-bottom: 0.0001pt;"><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt;">April 22<sup>nd</sup>, 2011<o:p></o:p></span></div><div class="MsoNormal" style="margin-bottom: 0.0001pt;"><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt;">MGMT230<o:p></o:p></span></div><div class="MsoNormal" style="margin-bottom: 0.0001pt;"><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt;">Unit 5: Discussion Board<o:p></o:p></span></div><br />
<div class="separator" style="clear: both; text-align: center;"><br />
</div><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiajtrwfPXGnsC14Lzv44yg-sj5PgxRoR4DXhhusse555N1g5XTpGVlrdYeDTbFxCwgwH7_4Hoa920ngku9ChrL_xZzi0Er6ubZaDuAbB0zgX9Ny7SbQ6Sl38GpNoOwGUxnl03KQ4TWIDIX/s1600/270px-IUJ_Main_Facade.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiajtrwfPXGnsC14Lzv44yg-sj5PgxRoR4DXhhusse555N1g5XTpGVlrdYeDTbFxCwgwH7_4Hoa920ngku9ChrL_xZzi0Er6ubZaDuAbB0zgX9Ny7SbQ6Sl38GpNoOwGUxnl03KQ4TWIDIX/s1600/270px-IUJ_Main_Facade.jpg" /></a></div><div class="MsoNormal"><span style="font-family: 'Times New Roman', serif; font-size: 12pt; line-height: 115%;">The International University of Japan (IUJ) is an educational facility based in Japan. IUJ mission is to “<span class="apple-style-span">train candidates to contribute a practical resolution for global problems in various countries and regions of the world, as well as organizations including governments and companies” (IUJ, 2011). Students may chose from an international relations program or focus on international business management. Here students will learn the importances of international business lifestyles as well as experience different customs from other countries. Graduates are most likely to work in an industry where international business is conducted. Some graduates may work for governments facing international business issues.<o:p></o:p></span></span></div><div class="MsoNormal"><span style="font-family: 'Times New Roman', serif; font-size: 12pt; line-height: 115%;"><span class="apple-style-span"><br />
</span></span></div><div class="MsoNormal"><span class="apple-style-span"><span style="font-family: 'Times New Roman', serif; font-size: 12pt; line-height: 115%;">As this e-business was developed, it is clear that the university wanted to inform the world as effective as possible. Since the campus was founded in 1982, internet use was probably close to nonexistent. However, as the internet became more popular over the years, this becomes a great advantage for IUJ to attract more students. The website gives an ideal perspective to what an actual campus would consist of. A campus directory is provided, media relations to inform the public on current events, career support which has a feature to guide students career path. In addition, if students have unanswered questions, contact comes in a variety of options to answer questions.</span></span></div><div class="MsoNormal"><span class="apple-style-span"><span style="font-family: 'Times New Roman', serif; font-size: 12pt; line-height: 115%;"> <o:p></o:p></span></span></div><div class="MsoNormal"><span class="apple-style-span"><span style="font-family: 'Times New Roman', serif; font-size: 12pt; line-height: 115%;">When searching for international businesses in Japan, IUJ was nearly at the top of the list and their use in advertising appears to be quite efficient. The design of the website is very professional and bilateral for both English and Japanese versions. Although security is openly insecure, the setup has no need for viewers to create accounts and sign in to view content. It is very possible that IUJ has sufficient internal security to protect from unwanted intruders. IUJ has upper management, faculty, and staff to make both the e-business and actual business complete.<o:p></o:p></span></span></div><div class="MsoNormal"><span class="apple-style-span"><span style="font-family: 'Times New Roman', serif; font-size: 12pt; line-height: 115%;"><br />
</span></span></div><div class="MsoNormal"><span class="apple-style-span"><span style="font-family: 'Times New Roman', serif; font-size: 12pt; line-height: 115%;">Typical market influences are those interesting in obtaining an education abroad, primarily focused on Japan oriented companies. IUJ offers many incentives for students to become interested in the international business world. As a promotion to talented students whose grades are higher than average, IUJ offers a scholarship program to help students for their extra efforts in their education. Financial aid is also an option. For students studying from other countries, they have an option to stay in the dormitory for their room and board. Also, there is a message board provided by the students and alumni regarding their education experience and current life which IUJ provided.<o:p></o:p></span></span></div><div class="MsoNormal"><span class="apple-style-span"><span style="font-family: 'Times New Roman', serif; font-size: 12pt; line-height: 115%;"><br />
</span></span></div><div class="MsoNormal"><span style="font-family: 'Times New Roman', serif; font-size: 12pt; line-height: 115%;">In conclusion, not all e-businesses are targeted specifically for the internet, or solely for the purpose to sell products online. Some companies, just like IUJ, are located in other countries and create websites to increase their potential to attract customers. In the case for IUJ, this company is located in Japan; however its purpose is to not only attract domestic customers, but also international customers. <o:p></o:p></span></div><div class="MsoNormal"><br />
</div><div class="MsoNormal"><span style="font-family: 'Times New Roman', serif; font-size: 12pt; line-height: 115%;">References:<o:p></o:p></span></div><div class="MsoNormal" style="margin-left: 1.0in; text-indent: -.5in;"><span style="font-family: 'Times New Roman', serif; font-size: 12pt; line-height: 115%;">International University of Japan. (2011). IUJ Education. Retrieved from http://www.iuj.ac.jp/web/iuj_section.cfm?category=0104#program<o:p></o:p></span></div>Scootland Economicshttp://www.blogger.com/profile/15761305973067659959noreply@blogger.com0tag:blogger.com,1999:blog-8370045113354642055.post-31392757210394886512011-11-15T15:46:00.000-08:002011-11-15T15:46:01.634-08:00Name that company!<div class="MsoNormal" style="margin-bottom: 0.0001pt;"><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt;">Sir Shannon Scott Williams<o:p></o:p></span></div><div class="MsoNormal" style="margin-bottom: 0.0001pt;"><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt;">April 13<sup>th</sup>, 2011<o:p></o:p></span></div><div class="MsoNormal" style="margin-bottom: 0.0001pt;"><span class="Apple-style-span" style="font-family: 'Times New Roman', serif; font-size: 16px;">Unit 4: Discussion Board</span></div><div class="MsoNormal" style="margin-bottom: 0.0001pt;"><br />
</div><div class="MsoNormal" style="margin-bottom: 0.0001pt;"><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt;">The process for deciding what to name a company is very important for many reasons. Reasons that include legal matters, attracting customers, and a name that helps define a company are just a few to name. Regardless if a company is new, merging, or changing structure for example these are situations which companies must consider choosing the perfect name.<o:p></o:p></span></div><div class="MsoListParagraphCxSpFirst" style="margin-bottom: 0.0001pt;"><br />
</div><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEisL3aV_ACixbrG8Wqreue08PBQq9zTO-9_tbt7LjRge-tQ2OVIMfyzqjwyOvn8YOZVhTVgmT0iab_Ia7L-KEAaDCx19W4XfObH7yRoGA2Ltq35abz-2ey9J0oAKWTRRiLS_D9gzIAKnH3f/s1600/Trademark-symbool.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEisL3aV_ACixbrG8Wqreue08PBQq9zTO-9_tbt7LjRge-tQ2OVIMfyzqjwyOvn8YOZVhTVgmT0iab_Ia7L-KEAaDCx19W4XfObH7yRoGA2Ltq35abz-2ey9J0oAKWTRRiLS_D9gzIAKnH3f/s1600/Trademark-symbool.png" /></a></div><div class="MsoListParagraphCxSpMiddle" style="margin-bottom: 0.0001pt; margin-left: 0in; margin-right: 0in; margin-top: 0in;"><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt;">Possibly the most important reason why a company name should be chosen wisely are due to legal matters. If a company name is similar to a competitor’s name, this becomes a legal matter against trademark laws. For example, if a small business is named Coca Cola it faces legal matters against the large corporation Coca Cola.<o:p></o:p></span></div><div class="MsoListParagraphCxSpMiddle" style="margin-bottom: 0.0001pt; margin-left: 0in; margin-right: 0in; margin-top: 0in;"><br />
</div><div class="MsoListParagraphCxSpMiddle" style="margin-bottom: 0.0001pt; margin-left: 0in; margin-right: 0in; margin-top: 0in;"><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt;">Choosing a company name to attracting customers can also be important. For instance, if a company’s division is limited to the northeast area of a state, this helps customers search easier. When it comes to the industrial maintenance industry for example, their customers are usually those within a limited distance. If a customer finds a company that is across the nation, this would be more of an inconvenience compared to a company that is closer by. On the other side, some companies are very large, yet limited to the domestic country, so the term intercontinental or national is often used.<o:p></o:p></span></div><div class="MsoListParagraphCxSpMiddle" style="margin-bottom: 0.0001pt; margin-left: 0in; margin-right: 0in; margin-top: 0in;"><br />
</div><div class="MsoListParagraphCxSpMiddle" style="margin-bottom: 0.0001pt; margin-left: 0in; margin-right: 0in; margin-top: 0in;"><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt;">A company name should also define the service or product types offer. A gun store may want to have a name such as Gunners, or a cleaning service may want to have Spiffy Clean. If a poor name is chosen, if can make the company look bad to its customers. For example the healthcare company Perrigo had a recall on one of its products <span class="apple-style-span">Acetominophen, “ironically Perigo in Portuguese translation to English is danger” says Chefguy from StraightDope.com.</span><o:p></o:p></span></div><div class="MsoListParagraphCxSpMiddle" style="margin-bottom: 0.0001pt; margin-left: 0in; margin-right: 0in; margin-top: 0in;"><br />
</div><div class="MsoListParagraphCxSpMiddle" style="margin-bottom: 0.0001pt; margin-left: 0in; margin-right: 0in; margin-top: 0in;"><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt;">If a new education e-business wants a good name which specializes in tutoring for grades 9-12, I suggest the naming the company <i>Online Educatio</i>, which is built on the Latin language. The English translation for educatio means education. Latin language is not used very often in modern day times, however many new words in a variety of different languages are based on the Latin language. Combining e-Business with Latin language create a unique approach. In addition, Online Educatio is an available name online and doesn’t face legal matters.<o:p></o:p></span></div><div class="MsoListParagraphCxSpMiddle" style="margin-bottom: 0.0001pt; margin-left: 0in; margin-right: 0in; margin-top: 0in;"><br />
</div><div class="MsoListParagraphCxSpMiddle" style="margin-bottom: 0.0001pt; margin-left: 0in; margin-right: 0in; margin-top: 0in;"><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt;">In conclusion, naming a business should be taken into careful consideration. If not, the company can face legal matters. It is more effective if a company name defines its products or services. Although these are just the basics to what a company name faces, the person or persons naming a company should consider researching more in depth before making a final decision.<o:p></o:p></span></div><div class="MsoListParagraphCxSpMiddle" style="margin-bottom: 0.0001pt; margin-left: 0in; margin-right: 0in; margin-top: 0in;"><br />
</div><div class="MsoListParagraphCxSpMiddle" style="margin-bottom: 0.0001pt; margin-left: 0in; margin-right: 0in; margin-top: 0in;"><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt;">References:<o:p></o:p></span></div><div class="MsoListParagraphCxSpMiddle" style="margin-bottom: 0.0001pt; margin-left: 0in; margin-right: 0in; margin-top: 0in;"><br />
</div><div class="MsoListParagraphCxSpLast" style="margin-bottom: 0.0001pt; margin-left: 1in; margin-right: 0in; margin-top: 0in; text-indent: -0.5in;"><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt;">Chefguy. (2006, November 15). A very poor company name choice [Online forum comment]. Retrieved from </span><a href="http://boards.straightdope.com/sdmb/showthread.php?t=396368">http://boards.straightdope.com/sdmb/showthread.php?t=396368</a><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt;"><o:p></o:p></span></div>Scootland Economicshttp://www.blogger.com/profile/15761305973067659959noreply@blogger.com0tag:blogger.com,1999:blog-8370045113354642055.post-88256283611729457962011-11-09T15:15:00.000-08:002011-11-09T15:15:22.969-08:00Traditional Retail vs. e-Commerce<div class="MsoNormal" style="margin-bottom: 0.0001pt;"><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt;">Sir Shannon Scott Williams<o:p></o:p></span></div><div class="MsoNormal" style="margin-bottom: 0.0001pt;"><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt;">MGMT230<o:p></o:p></span></div><div class="MsoNormal" style="margin-bottom: 0.0001pt;"><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt;">Unit 3: Discussion Board<o:p></o:p></span></div><div class="MsoNormal"><br />
</div><div class="MsoNormal"><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; line-height: 115%;"> The idea of converting a traditional walk-in store into an e-business takes careful planning and consideration. For those who are interested, they should plan a gap analysis first. A gap analysis is a technique used to “<span class="apple-style-span"><span style="color: #231f20;">help managers decide upon marketing strategies and tactics” (Marketing Teacher 2011)</span></span>. This helps determine where the business currently is, and where management would like the company to be. In the case for a shoe store, managers are practicing gap analysis to determine if converting to an e-business would be more profitable. If decided to convert to e-business, management should arrange and execute a well planned transition or else risk failing.<o:p></o:p></span></div><div class="MsoNormal"><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; line-height: 115%;"> Using the gap analysis, managers will to need consider tactics and strategies for product development and how to penetrate a target market. They should research as much as possible to authenticate possible profit margins. For the shoe store, walk-in customers restricts only to the local community. A manager using gap analysis can consider where the company would like to be by implementing, or reformatting to e-business. This will open target markets to the entire world. A new format may result in a change in prices. Prices will be more competitive online versus a competition level for prices within a local community.<o:p></o:p></span></div><div class="MsoNormal"><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; line-height: 115%;"> To begin the transition, notify customers that the walk-in store will be changing to an e-business for customer’s easy access. Customers should be explained that they will be able to shop the all the same products online. It is highly recommended that the store implement a marketing campaign informing customers the change to e-business, this is also a gap analysis technique. Not letting customers become aware will risk losing several customers who have enjoyed the former shoe. Advertisements for mass email newsletters, SEO (Search Engine Optimization), local advertisements, and other marketing tactics will be needed for the campaign to be more successful.<o:p></o:p></span></div><div class="MsoNormal"><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; line-height: 115%;"> Other planning should be the placement of employees and their new tasks. Compared to the traditional walk-in store, cashiers, sales persons, greeters, etc. will have new responsibilities. In addition, management could consider losing some of their staff being that some positions will no longer be needed. For example, a greeter could be effective for a walk-in store, however for an e-business; a greeter could be replaced with an automated answering service. This is also useful to determine gap analysis effects for employees. <o:p></o:p></span></div><div class="MsoNormal"><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; line-height: 115%;"> The shoe store does not specialize in the internet industry, so it is recommended to consult with web-development professionals to design the online store. <span class="apple-converted-space">The “architectural </span><span class="apple-style-span">implementation is to establish a computer system consisting of the databases, applications and user-interfaces” (Metal Pass, LLC. 2002).</span> Proper internet security should be implemented to protect customer’s private data. VPS (Virtual Private Server) or standard servers should be used to store all online data. Also, user friendly graphic design should be coded throughout the website so viewers can easily navigate. Product development for target markets also affects gap analysis.<o:p></o:p></span></div><div class="MsoNormal"><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; line-height: 115%;"> The new e-business should allow customers a variety of methods for checkout, such as PayPal, credit/debit card, money orders, and checks. In addition to checkouts, a variety of methods for delivery should be offered such as standard, 2 day air, and next day delivery.<o:p></o:p></span></div><div class="MsoNormal"><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; line-height: 115%;"> In conclusion, gap analysis is a useful technique to determine where a company would like to be in the future, such as a walk-in store to an e-business. Although a company may go through many changes, if the opportunity costs can provide a return, then new change is well worth it. Gap analysis may involve labor, equipment, location, and product development. Although these are the mere basics, gap analysis can become as technical as the investigator specifies. Prices for everything between one option and another, will ultimately determine which is best for the company.<o:p></o:p></span></div><div class="MsoNormal"><b><u><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; line-height: 115%;"><br />
</span></u></b></div><div class="MsoNormal"><b><u><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; line-height: 115%;"><br />
</span></u></b></div><div class="MsoNormal"><b><u><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; line-height: 115%;">References:<o:p></o:p></span></u></b></div><div class="MsoNormal" style="margin-left: 1.0in; text-indent: -.5in;"><span style="font-family: 'Times New Roman', serif; font-size: 12pt; line-height: 115%;">Architecture for transformation into e-business. (2002). Retrieved from, </span><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; line-height: 115%;">http://metalpass.com/metaldoc/paper.aspx?docID=198<o:p></o:p></span></div><div class="MsoNormal" style="margin-bottom: 0.0001pt; margin-left: 1in; margin-right: 0in; margin-top: 0in; text-indent: -0.5in;"><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt;">Gap Analysis. (2011). Retrieved from, <o:p></o:p></span></div><div class="MsoNormal" style="margin-bottom: 0.0001pt; margin-left: 1in; margin-right: 0in; margin-top: 0in; text-indent: -0.5in;"><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt;"> http://marketingteacher.com/lesson-store/lesson-gap-analysis.html<o:p></o:p></span></div>Scootland Economicshttp://www.blogger.com/profile/15761305973067659959noreply@blogger.com0tag:blogger.com,1999:blog-8370045113354642055.post-59753799323531941472011-11-01T15:06:00.000-07:002011-11-01T15:12:39.358-07:00The ups and downs to e-commerce<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in;"><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEic1G-vQMH-4owbLKmGSx8za0ABo0oLviG1QTbTP9ypZfaXjf_53q8ocP7Mco66bMH3wZk5QRYeZtPenuCTD42e23cccr5OT0N7rHUrpCLM0dMpgq0GnTtq2l_dtsk-wL16e8dDCFYSZAzP/s1600/e-commerce1.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><span class="Apple-style-span" style="font-family: Times, 'Times New Roman', serif;"><img border="0" height="240" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEic1G-vQMH-4owbLKmGSx8za0ABo0oLviG1QTbTP9ypZfaXjf_53q8ocP7Mco66bMH3wZk5QRYeZtPenuCTD42e23cccr5OT0N7rHUrpCLM0dMpgq0GnTtq2l_dtsk-wL16e8dDCFYSZAzP/s320/e-commerce1.jpg" width="320" /></span></a></div><span style="font-family: Times, 'Times New Roman', serif; font-size: 12pt;">Shannon Scott Williams<o:p></o:p></span></div><div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in;"><span style="font-family: Times, 'Times New Roman', serif; font-size: 12pt;">March 31<sup>nd</sup>, 2011<o:p></o:p></span></div><div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in;"><span style="font-family: Times, 'Times New Roman', serif; font-size: 12pt;">MGMT230<o:p></o:p></span></div><div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in;"><span style="font-family: Times, 'Times New Roman', serif; font-size: 12pt;">Unit 2: Discussion Board<o:p></o:p></span></div><div class="MsoNormal"><span class="Apple-style-span" style="font-family: Times, 'Times New Roman', serif;"><br />
</span></div><div class="MsoNormal"><span style="font-family: Times, 'Times New Roman', serif; font-size: 12pt; line-height: 115%;"> In the market world there are two different types, we have the traditional walk-in stores and the e-commerce stores; e-commerce being an online store. Walk-in stores in the past were much smaller compared today due to the simple fact that if you buy more in bulk, your inventory will be cheaper, thus these stores today are very large in size (e.g. Wal-Mart). Being in the information age today, e-commerce stores are becoming more popular compared to traditional walk-in stores. Consumers shopping at e-commerce stores do not have to worry about the travel for walk-in stores. In fact, what they desire can be just a few clicks away. Also, in some cases e-commerce does not enforce sales taxes. Particularly for the store owners, and possibly the most important reason why e-commerce is becoming more common is because developers have access to open-source applications, in other words meaning the applications are absolutely free and are able to be customizable however the owner choices.<o:p></o:p></span></div><div class="MsoNormal"><span style="font-family: Times, 'Times New Roman', serif; font-size: 12pt; line-height: 115%;"> Open source e-commerce applications probably hurt the market world more than it helps it because of the simple fact of being free. In this case, specifically subjecting towards the current economic recession around the world is taxes. E-commerce businesses in the USA, for example, are by law, required to have a sales tax as long as the business is located somewhere within the USA and if <span class="apple-style-span">“the value of goods and services sold online” (IRS.GOV, 2009)</span>. There is a catch, due to anyone throughout the world may own their own online business, and consumers from one country purchasing a product from another country are not obliged to pay taxes limited to the location of the seller. For example, if I live in the USA, and want to buy some special socks from an online store located in Kenya, then “those transactions are left out of a VAT (Value Added Tax) bracket for both USA and Kenya” (Juma, 2010). Now for consumers, that is a great thing because of lower prices; however for governments needing to meet their budgets, that is a bad thing.<o:p></o:p></span></div><div class="MsoNormal"><span style="font-family: Times, 'Times New Roman', serif; font-size: 12pt; line-height: 115%;"> Another reason is that the competition level between each online business is way too high. For example, BestBuy.com is a major walk-in store as well as a well known e-commerce store. Being that anyone may have access to open-source e-commerce application, they may duplicate a store quite similar to BestBuy.com. Not limited to a business such as BestBuy.com, given that open-source applications are fully customizable and FREE, the keyword there is important, the possibilities for any e-commerce business are near limitless. For example, say I enjoy buying products from BestBuy.com, but one day I come across a website called GreastestBuy.com (not affiliated with the actual GreatestBuy.com) offering the same products as BestBuy.com but cheaper. Then the next day, I discover PerfectBuy.com (not affiliated with actual PerfectBuy.com) which offers an even better deal than GreatestBuy.com. Logically any consumer will favor the cheapest deal of the same product. The scenario could continue on and on, and for that matter the competition level continually increases given that anyone can start an e-commerce business using open-source application.<o:p></o:p></span></div><div class="MsoNormal"><span style="font-family: Times, 'Times New Roman', serif; font-size: 12pt; line-height: 115%;"> Ironically, I’ve come across some websites using open-source based applications, such as e107, WordPress, Blogger selling custom open-sourced e-commerce applications. Moreover, open-source e-commerce applications can be found even in mobile technology today such as the Android Market or Apple Apps Store. <o:p></o:p></span></div><div class="MsoNormal"><span style="font-family: Times, 'Times New Roman', serif; font-size: 12pt; line-height: 115%;"> To consider what may happen in the future for open-source e-commerce to be open-sourced, I do not know. But my best guess is that these applications will become the standard. Technically, it already is due to the fact of how easy they are to obtain. Unless you heavily funded and want a custom design e-commerce store, open-sourced is the way to go! Though it may not be best for e-commerce businesses in general, but you can’t force the developers to not give away their work when they choose to do so.<o:p></o:p></span></div><div class="MsoNormal"><b><u><span style="font-family: Times, 'Times New Roman', serif; font-size: 12pt; line-height: 115%;"><br />
</span></u></b><br />
<b><u><span style="font-family: Times, 'Times New Roman', serif; font-size: 12pt; line-height: 115%;">References:<o:p></o:p></span></u></b></div><div class="MsoNormal"><span class="Apple-style-span" style="font-family: Times, 'Times New Roman', serif;"><span class="Apple-style-span" style="line-height: 18px;"><br />
</span></span></div><div class="MsoNormal" style="line-height: normal; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; mso-outline-level: 2;"><span class="Apple-style-span" style="font-family: Times, 'Times New Roman', serif;"><span style="font-size: 12pt;"> Electronic Business & Electronic Commerce. (2009). Retrieved from </span><span style="font-size: 12pt;">http://www.irs.gov/businesses/small/industries/article/0,,id=209249,00.html<o:p></o:p></span></span></div><h1 style="margin-top: 0in;"><span class="Apple-style-span" style="font-family: Times, 'Times New Roman', serif;"><span style="font-size: 12pt; line-height: 115%;"> <span class="Apple-style-span" style="font-weight: normal;">Juma, V. (2010) </span></span><span class="Apple-style-span" style="font-weight: normal;"><a href="http://allafrica.com/kenya/"><span style="font-size: 12pt; line-height: 115%;">Kenya:</span></a><span class="apple-converted-space"><span style="font-size: 12pt; line-height: 115%;"> </span></span></span><span style="font-size: 12pt; line-height: 115%;"><span class="Apple-style-span" style="font-weight: normal;">Online shopping keeps consumers out of revenue authority's reach. Retrieved from http://allafrica.com/stories/201008160015.html </span><o:p></o:p></span></span></h1><div class="MsoNormal"><br />
</div>Scootland Economicshttp://www.blogger.com/profile/15761305973067659959noreply@blogger.com2tag:blogger.com,1999:blog-8370045113354642055.post-26811543599016310772011-02-19T18:01:00.000-08:002011-02-19T18:01:00.305-08:00Pure, Per Se and Natural Monopolies pt 2<div align="center" class="MsoNormal" style="text-align: center;"><span style="color: black; font-family: 'Times New Roman', serif; font-size: 18pt; line-height: 115%;">Sir Shannon Scott Williams<o:p></o:p></span></div><div align="center" class="MsoNormal" style="text-align: center;"><br />
</div><div align="center" class="MsoNormal" style="text-align: center;"><br />
</div><div align="center" class="MsoNormal" style="text-align: center;"><span class="apple-style-span"><span style="color: black; font-family: 'Times New Roman', serif; font-size: 18pt; line-height: 115%;">Microeconomics</span></span><span style="color: black; font-family: 'Times New Roman', serif; font-size: 18pt; line-height: 115%;"><o:p></o:p></span></div><div align="center" class="MsoNormal" style="text-align: center;"><br />
</div><div align="center" class="MsoNormal" style="text-align: center;"><span style="color: black; font-family: 'Times New Roman', serif; font-size: 18pt; line-height: 115%;">Unit 4: Individual Project<o:p></o:p></span></div><div align="center" class="MsoNormal" style="text-align: center;"><span style="color: black; font-family: 'Times New Roman', serif; font-size: 18pt; line-height: 115%;"><br />
</span></div><div align="center" class="MsoNormal" style="text-align: center;"><strong><u><span style="color: black; font-size: 18pt; font-weight: normal; line-height: 115%;">Pure, Per Se and Natural Monopolies<o:p></o:p></span></u></strong></div><div align="center" class="MsoNormal" style="text-align: center;"><br />
</div><div align="center" class="MsoNormal" style="text-align: center;"><br />
</div><div align="center" class="MsoNormal" style="text-align: center;"><span style="color: black; font-family: 'Times New Roman', serif; font-size: 18pt; line-height: 115%;">American InterContential University, Online<o:p></o:p></span></div><div align="center" class="MsoNormal" style="text-align: center;"><span style="color: black; font-family: 'Times New Roman', serif; font-size: 18pt; line-height: 115%;"><br />
</span></div><div align="center" class="MsoNormal" style="text-align: center;"><span style="color: black; font-family: 'Times New Roman', serif; font-size: 18pt; line-height: 115%;">Professor </span><a href="https://mycampus.aiu-online.com/classroom/Pages/course.aspx?Class=307416&tid=188"><span style="color: black; font-family: 'Times New Roman', serif; font-size: 18pt; line-height: 115%; text-decoration: none;">Ramin Maysami</span></a><span class="apple-style-span"><span style="color: black; font-family: 'Times New Roman', serif; font-size: 18pt; line-height: 115%;">, Ph.D., CFP.</span></span><span style="color: black; font-family: 'Times New Roman', serif; font-size: 18pt; line-height: 115%;"><o:p></o:p></span></div><div align="center" class="MsoNormal" style="text-align: center;"><br />
</div><div align="center" class="MsoNormal" style="text-align: center;"><span style="color: black; font-family: 'Times New Roman', serif; font-size: 18pt; line-height: 115%;">January 29<sup>th</sup>, 2011<o:p></o:p></span></div><div class="MsoNormal"><br />
</div><div class="MsoNormal"><br />
</div><div class="MsoNormal"><br />
</div><div class="MsoNormal"><br />
</div><div class="MsoNormal"><br />
</div><div class="MsoNormal"><br />
</div><div class="MsoNormal"><br />
</div><div class="MsoNormal"><br />
</div><div class="MsoNormal"><b style="mso-bidi-font-weight: normal;"><u><span style="color: black; font-family: 'Times New Roman', serif; font-size: 12pt; line-height: 115%;">Abstract<o:p></o:p></span></u></b></div><div class="MsoNormal"><div class="separator" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em; text-align: center;"><a href="http://www.flickr.com/photos/davipt/164341428/"><img border="0" height="215" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEi-O39bxmLU2aUEidv9JBJqd7fsSBcabNHkpYVePr4GQPoXBW71drJCPy2rP62xdf_hSZWXwubwF4zozpT0xn5_FBmPIjRyWEEJMpDybdByXxFLhYbjGL31PpAOoxY7XQtUgeg65ZCu2K8E/s320/164341428_3243f50012.jpg" width="320" /></a></div><span style="color: black; font-family: 'Times New Roman', serif; font-size: 12pt; line-height: 115%;">Companies that produce large amounts of goods, sometimes have controversy, mostly depending on the type of good being produced. Whether its food, material goods, or energy; the production for the good can affect the neighboring environment on several aspects. Due to this, policies are written to help protect the public, as well as the environment, from the harmful effects. In this paper, readers will come to understand the logic to why policies are written and why they help protect consumers and their neighborhoods.<o:p></o:p></span></div><div class="MsoNormal"><br />
</div><div class="MsoNormal" style="line-height: 200%;"><span style="color: black; font-family: 'Times New Roman', serif; font-size: 12pt; line-height: 200%;"> Externalities, <i style="mso-bidi-font-style: normal;">can lead to government intervention for a inefficient market economy</i>, (Krugan, Wells, 2009, p. 434). A common term to understand the basics of why policies are written to companies that are producing a good but an unintentional harm affects its consumer. The perfect example is focused towards many power plants. One certain power plant is coal, in which <i style="mso-bidi-font-style: normal;">the burning of coal emits sulfuric dioxide that accounts for most of air pollution</i>, (CoalEducation.org). As a policy maker, you are try and persuade the government to enforce polices on a local coal power plant which has been known for its harmful emissions and causing nearby residents to develop several health problems.<o:p></o:p></span><br />
<span style="color: black; font-family: 'Times New Roman', serif; font-size: 12pt; line-height: 200%;"><br />
</span></div><div class="MsoNormal" style="line-height: 200%;"><span style="color: black; font-family: 'Times New Roman', serif; font-size: 12pt; line-height: 200%;"> First policy is, thanks to <i style="mso-bidi-font-style: normal;">Pew Center (Pewclimate.org)</i>, list’s several reasons why coal burning becomes a major problem for its gas emissions. Although coal is a cheap source of energy, the ultimate downfall is that it’s responsible for nearly half of the world’s greenhouse gases. In addition, much of USA is dependent on its electricity for coal burning. This adds more greenhouse gases every day as coal is continued to be used. As the USA, and other nations, maintains its dependency on coal, this will add to the demise of our home planet. To begin with, these gases create the often called <i style="mso-bidi-font-style: normal;">“Global Warming Effect”</i>, (EDF.org). In a brief summary: since the 1700’s an increase in greenhouse gases have increased due to industrialization; an increase which the Earth cannot naturally discharge; this creates a blanket in the atmosphere that is heating the Earth’s surface more each year. Examples include: <i style="mso-bidi-font-style: normal;">extreme weather, thinning ice/icing seas, threat to human health</i>, (EDF.org). If we fail to reduce such gases from coal emissions, this “<i style="mso-bidi-font-style: normal;">Global Warming Effect</i>” will be the very destruction of our planet unless we can make a change. <o:p></o:p></span><br />
<span style="color: black; font-family: 'Times New Roman', serif; font-size: 12pt; line-height: 200%;"><br />
</span></div><div class="MsoNormal" style="line-height: 200%;"><span style="color: black; font-family: 'Times New Roman', serif; font-size: 12pt; line-height: 200%;"> Second policy is thanks to <i style="mso-bidi-font-style: normal;">Health and Environment Alliance, (E</i>nv-Health.org<i style="mso-bidi-font-style: normal;">),</i> is focused more on health, specifically in the EU, but can still apply to USA because all humans have health in common with each other. This policy points out that a reduction on emission gases could save the nation millions, if not billions of dollars on health care due to the harmful effects of gas emissions. Some problems have been known to affect <i style="mso-bidi-font-style: normal;">blood, central nervous system, and also cause cancer</i> (BBC.co.uk). There are many more health problems that begin from gas emission.<o:p></o:p></span><br />
<span style="color: black; font-family: 'Times New Roman', serif; font-size: 12pt; line-height: 200%;"><br />
</span></div><div class="MsoNormal" style="line-height: 200%;"><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEip4Iy-w5ctBF7lK-aRR4dLiZI5Job-RXjz4QrFzTa86anXEg6Y2VOoa50mpZCo7UNKYjpj8JzHNjKxoRRjehhzI2gM8Tfnx5j5izk4prZqkWfkrYB20mOC_5vogmFiqZespfecNj_kXuD7/s1600/obama.jpg" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" height="320" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEip4Iy-w5ctBF7lK-aRR4dLiZI5Job-RXjz4QrFzTa86anXEg6Y2VOoa50mpZCo7UNKYjpj8JzHNjKxoRRjehhzI2gM8Tfnx5j5izk4prZqkWfkrYB20mOC_5vogmFiqZespfecNj_kXuD7/s320/obama.jpg" width="275" /></a></div><span style="color: black; font-family: 'Times New Roman', serif; font-size: 12pt; line-height: 200%;"> The reasons why these policies should be enforced on this power plant is because public and government are growing more concerned with the safety of its people and the world as a whole. During his current presidency, President Barrack Obama has taken a significant part into supporting cleaner energy. His roles in support for <i style="mso-bidi-font-style: normal;">Recovery Act Investments for Clean Energy</i> involves <i style="mso-bidi-font-style: normal;">manufacturing cleaner energy technology, advancing in vehicle technologies, renewing and improving the electric grids throughout USA</i>, (WhiteHouse.gov). Moreover, these policies will also help the power plant understand why consumers demand the emission reduction. In recent news, locals of Bokoshie, OK were <i style="mso-bidi-font-style: normal;">fed up with getting sick due to the effects of their provided power plant</i>, (Bartlesvillelive.com). If the policies are placed, the community can look forward to a safer and cleaner environment without having to worry much about health problems. Another reason is if residents have no need to worry, new development may occur and over a period of time, that means more customers to provide for. Placing these policies can benefit both the families of the community, as well as the investors of the power plant.<o:p></o:p></span><br />
<span style="color: black; font-family: 'Times New Roman', serif; font-size: 12pt; line-height: 200%;"><br />
</span></div><div class="MsoNormal" style="line-height: 200%;"><span style="color: black; font-family: 'Times New Roman', serif; font-size: 12pt; line-height: 200%;"> An estimated cost to reducing emission in USA will be an <i style="mso-bidi-font-style: normal;">average of $50 billion annually or $1.1 trillion by 2030, </i>(EnergyandCapital.com). If the coal power plant uses a <span class="apple-style-span">“Carbon Capture and Sequestration” (CSS), <i style="mso-bidi-font-style: normal;">the cost to produce electricity can expect to increase by 15-80%</i>, (ClimateCentral.org). </span>Investors to the power plant may consider increasing rates on electricity by means of reducing emission, which will also reduce health risks. As a result, consumers will pay less on healthcare and can compensate to an increased electricity rate. <span class="apple-style-span">An option other than CCS is a nuclear power plant. B</span>y <i style="mso-bidi-font-style: normal;">converting coal power plants to nuclear power plants the cost will pay itself off in the long run</i>, (CBO.gov). Overall the cost will be expensive, but the investment well worth it. Aside from converting to nuclear, it would be best, if not cheaper if the power plant was forced to investing in CCS and get involved with the community. This is also another option for the power plant can get involved with the community and reduce the consumption of electricity. According to Nick Hodge, <i style="mso-bidi-font-style: normal;">the most economic way to reduce emissions is upgrade HVAC and insulations in buildings</i>, (EnergyandCapital.com). Inevitably, people will speak up and the power plant will have to react or face the consequences.<o:p></o:p></span><br />
<span style="color: black; font-family: 'Times New Roman', serif; font-size: 12pt; line-height: 200%;"><br />
</span></div><div class="MsoNormal" style="line-height: 200%;"><span style="color: black; font-family: 'Times New Roman', serif; font-size: 12pt; line-height: 200%;"> In conclusion, at some point or another all companies’ production creates externalities. Whether its emission gases, or some other waste, these by-products are having the public grow more concerned with the conditions of a cleaner and safer environment. The polices provided, a special thanks to all those whom helped create them, are vital to getting government and legal officials active towards reducing emissions which affects health care and also the world’s climate. To mandate these policies to the local coal power plant, it is not intended to eliminate the business, rather provide a safer and cleaner environment to preserve for our children’s children. In addition, the coal power plant should come to understand that the public cares for its safety, and is willing to cooperate. If not, the government must take control of the situation, because this is what the tax-payers demand. If policies are needed to be enforced, the costs to make these improvements will pay itself off on a long enough time scale. All is logical that providing a cleaner energy can benefit consumers, government, and investors for this emission reduction concern.<o:p></o:p></span></div><div class="MsoNormal"><br />
</div><div class="MsoNormal"><br />
</div><div class="MsoNormal"><b style="mso-bidi-font-weight: normal;"><u><span style="color: black; font-family: 'Times New Roman', serif; font-size: 12pt; line-height: 115%;">References:<o:p></o:p></span></u></b></div><div class="MsoNormal"><br />
</div><div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; margin-left: .5in; margin-right: 0in; margin-top: 0in;"><span style="color: black; font-family: 'Times New Roman', serif; font-size: 12pt;">Armstrong, Kotler. (2009). Introduction to Marketing (9<sup>th</sup> Ed.).<o:p></o:p></span></div><div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; margin-left: .5in; margin-right: 0in; margin-top: 0in; text-indent: .5in;"><span class="normal"><span style="border-bottom-color: windowtext; border-bottom-style: none; border-bottom-width: 1pt; border-left-color: windowtext; border-left-style: none; border-left-width: 1pt; border-right-color: windowtext; border-right-style: none; border-right-width: 1pt; border-top-color: windowtext; border-top-style: none; border-top-width: 1pt; color: black; font-family: 'Times New Roman', serif; font-size: 12pt; padding-bottom: 0in; padding-left: 0in; padding-right: 0in; padding-top: 0in;">Pearson Education, Inc, Upper Saddle River, New Jersey.<o:p></o:p></span></span></div><div class="MsoNormal" style="margin-left: .5in;"><br />
</div><div class="MsoNormal" style="margin-left: 1.0in; text-indent: -.5in;"><span style="color: black; font-family: 'Times New Roman', serif; font-size: 12pt; line-height: 115%;">Kentucky Foundation. (2008). <i style="mso-bidi-font-style: normal;">The burning of coal emits these gases</i>. CoalEducation.org. </span><span style="color: black; font-family: 'Times New Roman', serif;">Retrieved 1.29.2011, from, </span><span style="color: black; font-family: 'Times New Roman', serif; font-size: 12pt; line-height: 115%;"><a href="http://www.coaleducation.org/lessons/twe/envi.pdf">http://www.coaleducation.org/lessons/twe/envi.pdf</a></span><span style="color: black; font-family: 'Times New Roman', serif; font-size: 12pt; line-height: 115%;"><o:p></o:p></span></div><div class="MsoNormal" style="margin-left: 1.0in; text-indent: -.5in;"><br />
</div><div class="MsoNormal" style="margin-left: 1.0in; tab-stops: 1.0in; text-indent: -.5in;"><span class="apple-style-span"><span style="color: black; font-family: 'Times New Roman', serif; font-size: 12pt; line-height: 115%;">Pew Center on Global Climate Change. (2011). <i style="mso-bidi-font-style: normal;">Gives credit to Pew Center for its written policy briefing</i>. PewClimate.org. </span></span><span style="color: black; font-family: 'Times New Roman', serif;">Retrieved 1.29.2011, from, </span><span style="color: black; font-family: 'Times New Roman', serif; font-size: 12pt; line-height: 115%;"><a href="http://www.pewclimate.org/docUploads/Coal.pdf">http://www.pewclimate.org/docUploads/Coal.pdf</a></span><span style="color: black; font-family: 'Times New Roman', serif; font-size: 12pt; line-height: 115%;"><o:p></o:p></span></div><div class="MsoNormal" style="margin-left: 1.0in; tab-stops: 1.0in; text-indent: -.5in;"><br />
</div><div class="MsoNormal" style="margin-left: 1.0in; text-indent: -.5in;"><span class="apple-style-span"><span style="color: black; font-family: 'Times New Roman', serif; font-size: 12pt; line-height: 115%;">Environmental Defense Fund. (2010). “<i style="mso-bidi-font-style: normal;">Global Warming Effect”. </i>EDF.org. </span></span><span style="color: black; font-family: 'Times New Roman', serif;">Retrieved 1.29.2011, from, </span><span style="color: black; font-family: 'Times New Roman', serif; font-size: 12pt; line-height: 115%;"><a href="http://www.edf.org/page.cfm?tagID=35215&source=ggadgw35215&gclid=CN_96f_z4KYCFYXu7Qod4nqM1A">http://www.edf.org/page.cfm?tagID=35215&source=ggadgw35215&gclid=CN_96f_z4KYCFYXu7Qod4nqM1A</a></span><span style="color: black; font-family: 'Times New Roman', serif; font-size: 12pt; line-height: 115%;"><o:p></o:p></span></div><div class="MsoNormal" style="margin-left: 1.0in; text-indent: -.5in;"><br />
</div><div class="MsoNormal" style="margin-left: 1.0in;"><span class="apple-style-span"><i style="mso-bidi-font-style: normal;"><span style="color: black; font-family: 'Times New Roman', serif; font-size: 12pt; line-height: 115%;">Effects of global warming</span></i></span><span class="apple-style-span"><span style="color: black; font-family: 'Times New Roman', serif; font-size: 12pt; line-height: 115%;">. EDF.org. </span></span><span style="color: black; font-family: 'Times New Roman', serif; font-size: 12pt; line-height: 115%;">Retrieved 1.29.2011, from, </span><span style="color: black; font-family: 'Times New Roman', serif; font-size: 12pt; line-height: 115%;"><a href="http://www.edf.org/page.cfm?tagid=54203">http://www.edf.org/page.cfm?tagid=54203</a></span><span style="color: black; font-family: 'Times New Roman', serif; font-size: 12pt; line-height: 115%;"><o:p></o:p></span></div><div class="MsoNormal" style="margin-left: 1.0in;"><br />
</div><div class="MsoNormal" style="margin-left: 1.0in; text-indent: -.5in;"><span class="apple-style-span"><span style="color: black; font-family: 'Times New Roman', serif; font-size: 12pt; line-height: 115%;">Health and Environment Alliance (HEAL). (2011). <i style="mso-bidi-font-style: normal;">Gives credit to HEAL for its written policy. </i>Env-Health.org. </span></span><span style="color: black; font-family: 'Times New Roman', serif; font-size: 12pt; line-height: 115%;">Retrieved 1.29.2011, from,</span><span style="color: black; font-family: 'Times New Roman', serif;"> </span><span style="color: black; font-family: 'Times New Roman', serif;"><a href="http://www.env-health.org/IMG/pdf/HEAL_30_co-benefits_report_-_FULL.pdf">http://www.env-health.org/IMG/pdf/HEAL_30_co-benefits_report_-_FULL.pdf</a></span><span style="color: black; font-family: 'Times New Roman', serif;"><o:p></o:p></span></div><div class="MsoNormal" style="margin-left: 1.0in; text-indent: -.5in;"><br />
</div><div class="MsoNormal" style="margin-left: 1.0in; text-indent: -.5in;"><span class="apple-style-span"><span style="color: black; font-family: 'Times New Roman', serif; font-size: 12pt; line-height: 115%;">BBC. (2011). <i style="mso-bidi-font-style: normal;">Emissions affects </i></span></span><i style="mso-bidi-font-style: normal;"><span style="color: black; font-family: 'Times New Roman', serif; font-size: 12pt; line-height: 115%;">blood, central nervous system, and also cause cancer. </span></i><span style="color: black; font-family: 'Times New Roman', serif; font-size: 12pt; line-height: 115%;">BBC.co.uk. Retrieved 1.29.2011, from,</span><span style="color: black; font-family: 'Times New Roman', serif;"> </span><span style="color: black; font-family: 'Times New Roman', serif; font-size: 12pt; line-height: 115%;"><a href="http://www.bbc.co.uk/health/physical_health/conditions/exhaust_emissions.shtml">http://www.bbc.co.uk/health/physical_health/conditions/exhaust_emissions.shtml</a></span><span style="color: black; font-family: 'Times New Roman', serif; font-size: 12pt; line-height: 115%;"><o:p></o:p></span></div><div class="MsoNormal" style="margin-left: 1.0in; text-indent: -.5in;"><br />
</div><div class="MsoNormal" style="margin-left: 1.0in; text-indent: -.5in;"><span style="color: black; font-family: 'Times New Roman', serif; font-size: 12pt; line-height: 115%;">The White House. (2011). <i style="mso-bidi-font-style: normal;">Recovery Act Investments for Clean Energy, </i>WhiteHouse.gov. Retrieved 1.29.2011, from, </span><span style="color: black; font-family: 'Times New Roman', serif; font-size: 12pt; line-height: 115%;"><a href="http://www.whitehouse.gov/issues/energy-and-environment">http://www.whitehouse.gov/issues/energy-and-environment</a></span></div><div class="MsoNormal" style="margin-left: 1.0in; text-indent: -.5in;"><br />
</div><div class="MsoNormal" style="margin-left: 1.0in; text-indent: -.5in;"><span class="apple-style-span"><span style="color: black; font-family: 'Times New Roman', serif; font-size: 12pt; line-height: 115%;">Sara Goldenberg</span></span><span style="color: black; font-family: 'Times New Roman', serif; font-size: 12pt; line-height: 115%;"> (2010). <i style="mso-bidi-font-style: normal;">Locals getting fed up with getting sick due to the effects of their provided power plant. </i>Bartlesvillelive.com. Retrieved 1.29.2011, from, </span><span style="color: black; font-family: 'Times New Roman', serif;"><a href="http://www.bartlesvillelive.com/dpps/news/local_news/ok-town-fights-potentially-toxic-dump_5617466">http://www.bartlesvillelive.com/dpps/news/local_news/ok-town-fights-potentially-toxic-dump_5617466</a></span><span style="color: black; font-family: 'Times New Roman', serif; font-size: 12pt; line-height: 115%;"><o:p></o:p></span></div><div class="MsoNormal" style="margin-left: 1.0in; text-indent: -.5in;"><br />
</div><div class="MsoNormal" style="margin-left: 1.0in; text-indent: -.5in;"><span class="apple-style-span"><span style="color: black; font-family: 'Times New Roman', serif; font-size: 12pt; line-height: 115%;">Nick Hodge. (2007). </span></span><i style="mso-bidi-font-style: normal;"><span style="color: black; font-family: 'Times New Roman', serif; font-size: 12pt; line-height: 115%;">$50 billion annually or $1.1 trillion by 2030. <span class="apple-style-span">T</span>he most economic way to reduce emissions is upgrade HVAC and insulations in buildings. </span></i><span style="color: black; font-family: 'Times New Roman', serif; font-size: 12pt; line-height: 115%;">EnergyandCaptial.com. Retrieved 1.29.2011, from, </span><span style="color: black; font-family: 'Times New Roman', serif; font-size: 12pt; line-height: 115%;"><a href="http://www.energyandcapital.com/articles/cost-reducing-emissions/567">http://www.energyandcapital.com/articles/cost-reducing-emissions/567</a></span><span style="color: black; font-family: 'Times New Roman', serif; font-size: 12pt; line-height: 115%;"><o:p></o:p></span></div><div class="MsoNormal" style="margin-left: 1.0in; text-indent: -.5in;"><br />
</div><div class="MsoNormal" style="margin-left: 1.0in; text-indent: -.5in;"><span style="color: black; font-family: 'Times New Roman', serif; font-size: 12pt; line-height: 115%;">Mark Lasky. (2003). C<i style="mso-bidi-font-style: normal;">onverting coal power plants to nuclear power plants the cost will pay itself off in the long run. </i>CBO.gov. Retrieved 1.29.2011, from, </span><span style="color: black; font-family: 'Times New Roman', serif; font-size: 12pt; line-height: 115%;"><a href="http://www.cbo.gov/ftpdocs/41xx/doc4198/2003-3.pdf">http://www.cbo.gov/ftpdocs/41xx/doc4198/2003-3.pdf</a></span><span style="color: black; font-family: 'Times New Roman', serif; font-size: 12pt; line-height: 115%;"><o:p></o:p></span></div><div class="MsoNormal" style="margin-left: 1.0in; text-indent: -.5in;"><br />
</div><div class="MsoNormal" style="margin-left: 1.0in; text-indent: -.5in;"><span style="color: black; font-family: 'Times New Roman', serif; font-size: 12pt; line-height: 115%;">Climate Central. (2009). <i style="mso-bidi-font-style: normal;">T<span class="apple-style-span">he cost to produce electricity can expect to increase by 15-80%. </span></i><span class="apple-style-span">ClimateCentral.org. </span>Retrieved 1.29.2011, from,</span><span style="color: black; font-family: 'Times New Roman', serif; font-size: 12pt; line-height: 115%;"><a href="http://www.climatecentral.org/library/climopedia/making_low-carbon_electricity_from_coal_will_cost_more_than_the_conventional_way/">http://www.climatecentral.org/library/climopedia/making_low-carbon_electricity_from_coal_will_cost_more_than_the_conventional_way/</a></span></div>Scootland Economicshttp://www.blogger.com/profile/15761305973067659959noreply@blogger.com33tag:blogger.com,1999:blog-8370045113354642055.post-19330705625089608202011-02-15T17:56:00.000-08:002011-02-15T17:56:00.416-08:00Pure, Per Se and Natural Monopolies pt 1<div class="MsoNormal">Sir Shannon Scott Williams</div><div class="MsoNormal">January 24<sup>th</sup>, 2010</div><div class="MsoNormal">ECON220</div><div class="MsoNormal">Unit 3: Discussion Board</div><div class="MsoNormal"><br />
</div><div class="MsoNormal"><br />
</div><div align="center" class="MsoNormal" style="text-align: center;"><strong><u><span style="color: black;">Pure, Per Se and Natural Monopolies<o:p></o:p></span></u></strong></div><div align="center" class="MsoNormal" style="text-align: center;"><br />
</div><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEihpb7goeQQyMTZR2tf7Pb5u9570BnSPtSRFMJNqmTpIB5DBZdU_2BBjHS8dD_T0zHiRnKlxe9xBrTsSyrxm3DSBm09K0lsPFG6Vr6asRsJQ7gULpYUiCXSWy3egeol4UAisozaANg6UzoB/s1600/BCO2113.jpg" imageanchor="1" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img border="0" height="266" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEihpb7goeQQyMTZR2tf7Pb5u9570BnSPtSRFMJNqmTpIB5DBZdU_2BBjHS8dD_T0zHiRnKlxe9xBrTsSyrxm3DSBm09K0lsPFG6Vr6asRsJQ7gULpYUiCXSWy3egeol4UAisozaANg6UzoB/s320/BCO2113.jpg" width="320" /></a></div><div class="MsoNormal"><strong><span style="color: black; font-weight: normal;"> Importing and exporting are common in today’s world, well for the world which involves trade between two or more nations. Some agree that a nation should focus on importing where as another side supports exporting. Between the two for the fashion industry, business varies by the sole opinion of the each individual consumer.<o:p></o:p></span></strong></div><div class="MsoNormal"><strong><span style="color: black; font-weight: normal;"><br />
</span></strong></div><div class="MsoNormal"><strong><span style="color: black; font-weight: normal;"> Let us begin with importing, <i style="mso-bidi-font-style: normal;">goods and services purchased from other countries, </i></span></strong>(Krugan, Wells, 2009, p. 196). A good example of an imported clothing company is <i style="mso-bidi-font-style: normal;">Jayli Imports</i>, which is a company that specializes in <i style="mso-bidi-font-style: normal;">“B<span class="apple-style-span">ohemian style hippie wear”, </span></i><span class="apple-style-span">(Jayli.com). The current best selling product for Jayli, is the Long Halter Pumpkin Dress. </span></div><div class="MsoNormal"><span class="apple-style-span"> <o:p></o:p></span></div><div class="MsoNormal" style="text-indent: .5in;"><span class="apple-style-span">Next, exporting, <i style="mso-bidi-font-style: normal;">goods and services sold to other countries, </i></span>(Krugan, Wells, 2009, p. 196). The perfect example is <i style="mso-bidi-font-style: normal;">Carhartt “100% made in the USA since 1889”, </i>(Carhartt.com). My favorite product is the 8” Logger/Linemen Boot.</div><div class="MsoNormal" style="text-indent: .5in;"><br />
</div><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhGR0bEGSweqgNWLciv1aQpJ5E6RRarpH9NCOig6Vdq1LcPuCUo7fxgOojMs4C8ANxumMV9G0JNNRYNMsnzaVxuTdPS6IpGgjRIPWqsThfminha1fc0fhgXOKZRqblJhpEaYz9mrmiK6D2t/s1600/carhartt.jpeg" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" height="184" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhGR0bEGSweqgNWLciv1aQpJ5E6RRarpH9NCOig6Vdq1LcPuCUo7fxgOojMs4C8ANxumMV9G0JNNRYNMsnzaVxuTdPS6IpGgjRIPWqsThfminha1fc0fhgXOKZRqblJhpEaYz9mrmiK6D2t/s200/carhartt.jpeg" width="200" /></a></div><div class="MsoNormal"><i style="mso-bidi-font-style: normal;"> </i>After reviewing importing/exporting between Jayli and Carhartt, I see that most imported products from Jayli are less durable compared to Carhartt products. Jayli may be designed for fashion purposes; where as Carhartt’s products are designed for hard-working purposes. However, I know many people in Georgia that wear Carthartt clothing just for fashion reasons. Nevertheless, if one is to buy an imported durable product, it’s likely that it will be more expensive versus a durable exported product. For example, on my honeymoon vacation, my wife and I went shopping in Stockholm, Sweden. While shopping, I came across a several pairs of Chuck Taylor’s Converse Sneakers. Domestically in the USA, the average prices for these are around $40. However in Sweden, they sold for more than $120, the most expensive shoe in the store. Another situation is when I was also browsing Armani clothing. In Sweden it is fairly reasonable, however in the USA, Armani can be very expensive.</div><div class="MsoNormal"><br />
</div><div class="MsoNormal"> In my point of view, I prefer quality. If I am to purchase a product, price is next in line for my criteria. So when I look for a product, imported/exported may have the same quality but if one is more expensive just because it is imported, then I would rather purchase the domestic product because it’s cheaper. In addition, I would rather purchase a domestic product to support the national employment, than seeing many fellow Americans without jobs. Products of the fashion industry produced in the USA, help supply job for those who live there.</div><div class="MsoNormal"><br />
</div><div class="MsoNormal"><strong><u><span style="color: black;">References:<o:p></o:p></span></u></strong></div><div class="MsoNormal"><br />
</div><div class="MsoNormal" style="margin-left: .5in;">Armstrong, Kotler. (2009). Introduction to Marketing (9<sup>th</sup> Ed.).</div><div class="MsoNormal" style="margin-left: .5in;"><span class="normal"><span style="border-bottom-color: windowtext; border-bottom-style: none; border-bottom-width: 1pt; border-left-color: windowtext; border-left-style: none; border-left-width: 1pt; border-right-color: windowtext; border-right-style: none; border-right-width: 1pt; border-top-color: windowtext; border-top-style: none; border-top-width: 1pt; padding-bottom: 0in; padding-left: 0in; padding-right: 0in; padding-top: 0in;">Pearson Education, Inc, Upper Saddle River, New Jersey.</span></span></div><div class="MsoNormal"><br />
</div><div class="MsoNormal"> Jayli Imports. (2007). <i style="mso-bidi-font-style: normal;">Jayli clothing style.</i> (Jayli.com). Retrieved 1.25.2011, from,<i style="mso-bidi-font-style: normal;"><o:p></o:p></i></div><div class="MsoNormal" style="margin-left: .5in; text-indent: .5in;"><a href="http://www.jayli.com/index.html">http://www.jayli.com/index.html</a></div><div class="MsoNormal" style="margin-left: 1.0in; text-indent: -.5in;">Carhartt. (2011). <i style="mso-bidi-font-style: normal;">Carhartt motto. </i>(Carhartt.com). Retrieved 1.25.2011, from, <a href="http://www.carhartt.com/webapp/wcs/stores/servlet/HomeView?storeId=10051&catalogId=10101">http://www.carhartt.com/webapp/wcs/stores/servlet/HomeView?storeId=10051&catalogId=10101</a></div>Scootland Economicshttp://www.blogger.com/profile/15761305973067659959noreply@blogger.com15tag:blogger.com,1999:blog-8370045113354642055.post-25750082185218343222011-02-11T17:00:00.000-08:002011-02-11T17:00:03.375-08:00Production and Perfect Competition pt 2 microeconomics<div align="center" class="MsoNormal" style="text-align: center;"><span style="font-family: 'Times New Roman', serif; font-size: 18pt; line-height: 115%;">Sir Shannon Scott Williams<o:p></o:p></span></div><div align="center" class="MsoNormal" style="text-align: center;"><br />
</div><div align="center" class="MsoNormal" style="text-align: center;"><br />
</div><div align="center" class="MsoNormal" style="text-align: center;"><span class="apple-style-span"><span style="font-family: 'Times New Roman', serif; font-size: 18pt; line-height: 115%;">Microeconomics</span></span><span style="font-family: 'Times New Roman', serif; font-size: 18pt; line-height: 115%;"><o:p></o:p></span></div><div align="center" class="MsoNormal" style="text-align: center;"><br />
</div><div align="center" class="MsoNormal" style="text-align: center;"><span style="font-family: 'Times New Roman', serif; font-size: 18pt; line-height: 115%;">Unit 3: Individual Project<o:p></o:p></span></div><div align="center" class="MsoNormal" style="text-align: center;"><strong><span style="color: black; font-size: 18pt; font-weight: normal; line-height: 115%;">Production and Perfect Competition</span></strong><b style="mso-bidi-font-weight: normal;"><span style="font-family: 'Times New Roman', serif; font-size: 18pt; line-height: 115%;"><o:p></o:p></span></b></div><div align="center" class="MsoNormal" style="text-align: center;"><br />
</div><div align="center" class="MsoNormal" style="text-align: center;"><br />
</div><div align="center" class="MsoNormal" style="text-align: center;"><span style="font-family: 'Times New Roman', serif; font-size: 18pt; line-height: 115%;">American InterContential University, Online<o:p></o:p></span></div><div align="center" class="MsoNormal" style="text-align: center;"><span style="font-family: 'Times New Roman', serif; font-size: 18pt; line-height: 115%;"><br />
</span></div><div align="center" class="MsoNormal" style="text-align: center;"><span style="font-family: 'Times New Roman', serif; font-size: 18pt; line-height: 115%;">Professor </span><a href="https://mycampus.aiu-online.com/classroom/Pages/course.aspx?Class=307416&tid=188"><span style="color: windowtext; font-family: 'Times New Roman', serif; font-size: 18pt; line-height: 115%; text-decoration: none;">Ramin Maysami</span></a><span class="apple-style-span"><span style="color: black; font-family: 'Times New Roman', serif; font-size: 18pt; line-height: 115%;">, Ph.D., CFP.</span></span><span style="font-family: 'Times New Roman', serif; font-size: 18pt; line-height: 115%;"><o:p></o:p></span></div><div align="center" class="MsoNormal" style="text-align: center;"><br />
</div><div align="center" class="MsoNormal" style="text-align: center;"><span style="font-family: 'Times New Roman', serif; font-size: 18pt; line-height: 115%;">January 21<sup>th</sup>, 2011<o:p></o:p></span></div><div class="MsoNormal"><br />
</div><div class="MsoNormal"><br />
</div><div class="MsoNormal"><br />
</div><div class="MsoNormal"><br />
</div><div class="MsoNormal"><br />
</div><div class="MsoNormal"><br />
</div><div class="MsoNormal"><br />
</div><div class="MsoNormal"><br />
</div><div class="MsoNormal"><b style="mso-bidi-font-weight: normal;"><u><span style="font-family: 'Times New Roman', serif;">Abstract<o:p></o:p></span></u></b></div><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiqyv7_MRlZ4NeOysLgf4mshDni29S_zczsNhmdCy4YgR1ZLktQrxOW2xFG2JnrjIITxumFmzfX4Dg6tUjKKPw_bQqOMuNI47lEIa__MiyzgDQtexwHK3-rIlUItva-CY5ucUrgKg1LEJt_/s1600/mortgage-calculator.jpg" imageanchor="1" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img border="0" height="320" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiqyv7_MRlZ4NeOysLgf4mshDni29S_zczsNhmdCy4YgR1ZLktQrxOW2xFG2JnrjIITxumFmzfX4Dg6tUjKKPw_bQqOMuNI47lEIa__MiyzgDQtexwHK3-rIlUItva-CY5ucUrgKg1LEJt_/s320/mortgage-calculator.jpg" width="237" /></a></div><div class="MsoNormal" style="line-height: 200%;"><span style="font-family: 'Times New Roman', serif;">When it comes to production, units produced per day consist of many factors in order to create a good. Labor, electricity, training, repair, and other necessary cost are examples to these factors. In order for a facility to remain in production, revenue must be greater than the cost per day or else the business is at a loss, most likely end in shut down. In this paper, there is a given scenario where a plant is facing a loss in daily revenue due to exceeding cost. To determine whether or not the plant should shut down or continue production, readers will be able to understand the calculations to make these decisions.<o:p></o:p></span></div><div class="MsoNormal" style="line-height: 200%;"><br />
</div><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEixrfbfJjjFV2pYANLZVsUjamB9xV1DVCjsik93RoR0o0dfvG_dlpFiD56wDV45Efx0SAr5WYh-WQKM9j9abrQGqX02qRy0LDd8uab22g4frmBRtC9i48YKrGHejevZJUkeAUVAfvitQm_h/s1600/IndustrialPlant5.jpg" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" height="207" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEixrfbfJjjFV2pYANLZVsUjamB9xV1DVCjsik93RoR0o0dfvG_dlpFiD56wDV45Efx0SAr5WYh-WQKM9j9abrQGqX02qRy0LDd8uab22g4frmBRtC9i48YKrGHejevZJUkeAUVAfvitQm_h/s320/IndustrialPlant5.jpg" width="320" /></a></div><div class="MsoNormal" style="line-height: 200%;"><span style="font-family: 'Times New Roman', serif;"> In the given scenario there is a plant that employer’s 50,000 workers who produce 200,000 units per day. The cost of each daily wage per worker is $80. Units produced generates the plant $25 per unit. To operate under these conditions, there are other variable inputs totaling $400,000 per day. Another cost, fixed cost, which is unknown, it causing the plants total cost to exceed total revenue per day. To determine whether or not the plant should shut down, or continue to operate, you are to assume a fixed cost of $1 million and $3 million. The calculations provided will determine shut down or continuing production.<o:p></o:p></span></div><div class="MsoNormal"><span style="font-family: 'Times New Roman', serif;">To begin with, you need to understand that if Total Revenue (TR) is greater than Total Costs (TC) then the plant can continue production. However, if TR is less than TC, then shut down production.<o:p></o:p></span></div><div class="MsoNormal"><span style="font-family: 'Times New Roman', serif;">The first calculation is to discover the Total Revenue being generated per day. You know that the employees produce 200,000 units where each unit sells for $25. So multiply total units by sale price.<o:p></o:p></span></div><div class="MsoNormal"><span style="font-family: 'Times New Roman', serif;">Total Revenue (TR) = 200,000 x $25 = $5,000,000 per day.<o:p></o:p></span></div><div class="MsoNormal"><span style="font-family: 'Times New Roman', serif;">Next, determine the Total Cost; however you do not know what the total fixed cost, so base the determination on Total Variable Costs.<o:p></o:p></span></div><div class="MsoNormal"><span style="font-family: 'Times New Roman', serif;">Total Variable Cost (TVC) is equal to the total number of workers (50,000) multiply by the daily wage of each worker ($80) plus other variable costs ($400,000).<o:p></o:p></span></div><div class="MsoNormal"><span style="font-family: 'Times New Roman', serif;">Total Variable Cost (TVC) = (50,000 x $80) + $400,000 = $4,400,000<o:p></o:p></span></div><div class="MsoNormal"><span style="font-family: 'Times New Roman', serif;">Based on these calculations for Total Revenue and Total Variable Costs, it is clear that the plant generates enough revenue to cover the various costs. Since the plant is able to cover its cost and continue production.<o:p></o:p></span></div><div class="MsoNormal"><span style="font-family: 'Times New Roman', serif;">TR $5 million/per day > TVC $4,400,000/per day = Continue production<o:p></o:p></span></div><div class="MsoNormal"><span style="font-family: 'Times New Roman', serif;"><br />
</span></div><div class="MsoNormal" style="line-height: 200%; text-indent: .5in;"><span style="font-family: 'Times New Roman', serif;">However the Fixed Costs are not implemented into this determination, so you need to assume on two different occasions that the fixed costs are $1 million per day and $3 million per day. This input will ultimately decide whether or not to shut down or continue production.<o:p></o:p></span></div><div class="MsoNormal" style="line-height: 200%; text-indent: .5in;"><span style="font-family: 'Times New Roman', serif;"><br />
</span></div><div class="MsoNormal" style="line-height: 200%; text-indent: .5in;"><span style="font-family: 'Times New Roman', serif;">Let us assume first that the Fixed Cost is $1 million per day. The Total Variable Cost (TVC) will remain unchanged for this calculation, number of employees (50,000) multiply by daily wage ($80) then add various input costs ($400,000).<o:p></o:p></span></div><div class="MsoNormal" style="line-height: 200%; text-indent: .5in;"><span style="font-family: 'Times New Roman', serif;"><br />
</span></div><div class="MsoNormal"><span style="font-family: 'Times New Roman', serif;">Total Variable Cost (TVC) = (50,000 x $80) + $400,000 = $4,400,000<o:p></o:p></span></div><div class="MsoNormal" style="tab-stops: 57.0pt;"><span style="font-family: 'Times New Roman', serif;">Next the Average Variable Cost (AVC) which is equal to the Total Variable Cost ($4.4 million) divided by the total units of output per day (200,000).<o:p></o:p></span></div><div class="MsoNormal" style="tab-stops: 57.0pt;"><span style="font-family: 'Times New Roman', serif;">Average Variable Cost (AVC) = $4,400,000 / 200,000 = 22<o:p></o:p></span></div><div class="MsoNormal" style="tab-stops: 57.0pt;"><span style="font-family: 'Times New Roman', serif;">Next, the Average Total Cost (ATC) which are equal to the Total Variable Costs ($4.4 million) plus the Total Fixed Cost ($1 million), then divided by the units of output per day (200,000).<o:p></o:p></span></div><div class="MsoNormal" style="tab-stops: 57.0pt;"><span style="font-family: 'Times New Roman', serif;">Average Total Cost (ATC) = ($4,400,000 + $1,000,000) / 200,000 = 27<o:p></o:p></span></div><div class="MsoNormal" style="tab-stops: 57.0pt;"><span style="font-family: 'Times New Roman', serif;">Finally there is Worker Productivity (WP) which is equal to the total units of output per day (200,000) divided by the total number of employees (50,000).<o:p></o:p></span></div><div class="MsoNormal" style="tab-stops: 57.0pt;"><span style="font-family: 'Times New Roman', serif;">Worker Productivity (WP) = 200,000 / 50,000 = 4<o:p></o:p></span></div><div class="MsoNormal" style="tab-stops: 57.0pt;"><span style="font-family: 'Times New Roman', serif;"><br />
</span></div><div class="MsoNormal" style="tab-stops: 57.0pt;"><span style="font-family: 'Times New Roman', serif;"> Assuming that the Total Fixed Cost is $3 million per day, you will use the same calculations as before to determine plant shutdown or continuing production.<o:p></o:p></span></div><div class="MsoNormal"><span style="font-family: 'Times New Roman', serif;">Total Variable Cost (TVC) = (50,000 x $80) + $400,000 = $4,400,000<o:p></o:p></span></div><div class="MsoNormal" style="tab-stops: 57.0pt;"><span style="font-family: 'Times New Roman', serif;">Average Variable Cost (AVC) = $4,400,000 / 200,000 = 22<o:p></o:p></span></div><div class="MsoNormal" style="tab-stops: 57.0pt;"><span style="font-family: 'Times New Roman', serif;">Average Total Cost (ATC) = ($4,400,000 + $3,000,000) / 200,000 = 37<o:p></o:p></span></div><div class="MsoNormal" style="tab-stops: 57.0pt;"><span style="font-family: 'Times New Roman', serif;">Worker Productivity (WP) = 200,000 / 50,000 = 4<o:p></o:p></span></div><div class="MsoNormal" style="tab-stops: 57.0pt;"><span style="font-family: 'Times New Roman', serif;"><br />
</span></div><div class="MsoNormal" style="tab-stops: 57.0pt;"><span style="font-family: 'Times New Roman', serif;"> Since you have assumed the Fixed Cost, you can now calculate Total Cost in which you take the TVC and add the Fixed Cost.<o:p></o:p></span></div><div class="MsoNormal" style="tab-stops: 57.0pt;"><span style="font-family: 'Times New Roman', serif;">Assuming the Fixed Cost for $1 million:<o:p></o:p></span></div><div class="MsoNormal" style="tab-stops: 57.0pt;"><span style="font-family: 'Times New Roman', serif;">Total Cost = TVC + Fixed Cost = $4,400,000 + $1,000,000 = $5,400,000<o:p></o:p></span></div><div class="MsoNormal" style="tab-stops: 57.0pt;"><span style="font-family: 'Times New Roman', serif;">Assuming the Fixed Cost for $3 million:<o:p></o:p></span></div><div class="MsoNormal" style="tab-stops: 57.0pt;"><span style="font-family: 'Times New Roman', serif;">Total Cost = TVC + Fixed Cost = $4,400,000 + $3,000,000 = $7,400,000<o:p></o:p></span></div><div class="MsoNormal" style="tab-stops: 57.0pt;"><span style="font-family: 'Times New Roman', serif;">The result is a higher cost than revenue being generated; Profit or Loss details the result by taking the TR minus the TC.<o:p></o:p></span></div><div class="MsoNormal" style="tab-stops: 57.0pt;"><span style="font-family: 'Times New Roman', serif;">Profit or Loss ($1million) = $5,000,000 - $5,400,000 = -$400,000 loss each day.<o:p></o:p></span></div><div class="MsoNormal" style="tab-stops: 57.0pt;"><span style="font-family: 'Times New Roman', serif;">Profit or Loss ($3million) = $5,000,000 - $7,400,000 = -$2,400,000 loss each day.<o:p></o:p></span></div><div class="MsoNormal" style="line-height: 200%; tab-stops: 57.0pt;"><span style="font-family: 'Times New Roman', serif;">The loss is due to the ATC being higher than the AVC. The plants units sell for $25 each. If the plant operates on TVC, it can generate profit based on the AVC ($22/unit), a $3 gain. However, if the Fixed Cost is added, this results an ATC increasing the price cost. At $1million Fixed Cost, the ATC per unit is $27, a $2 loss. At $3 million Fixed Cost, the ATC per unit is $37, a $10 loss.<o:p></o:p></span></div><div class="MsoNormal" style="line-height: 200%; tab-stops: 57.0pt;"><span style="font-family: 'Times New Roman', serif;"><br />
</span></div><div class="MsoNormal" style="line-height: 200%; tab-stops: 57.0pt;"><span style="font-family: 'Times New Roman', serif;"> Based on the assumption for a Fixed Cost of $1 million, these costs are exceeding daily revenue. The plant could shut down temporary or lay-off some of its employees to reach a break-even-price, <i style="mso-bidi-font-style: normal;">whenever price equals minimum average,</i> (Krugan, Wells, 2009, p. 340). Issuing a lay-off, you first need to calculate Profit or Loss then divide by daily wage to determine how many employees need to be laid off.<o:p></o:p></span></div><div class="MsoNormal" style="tab-stops: 57.0pt;"><span style="font-family: 'Times New Roman', serif;">Lay-off = ($5,000,000 - $5,400,000) / $80 = -5000 employees<o:p></o:p></span></div><div class="MsoNormal" style="tab-stops: 57.0pt;"><span style="font-family: 'Times New Roman', serif;">Since 5,000 employees are to be laid-off, this will change the daily production. Going back to the Worker Productivity formula, you calculate the change.<o:p></o:p></span></div><div class="MsoNormal" style="tab-stops: 57.0pt;"><span style="font-family: 'Times New Roman', serif;">Worker Productivity = 200,000 / 45,000 = 4.44<o:p></o:p></span></div><div class="MsoNormal" style="tab-stops: 57.0pt;"><span style="font-family: 'Times New Roman', serif;"><br />
</span></div><div class="MsoNormal" style="line-height: 200%; tab-stops: 57.0pt;"><span style="font-family: 'Times New Roman', serif;"> As you can see the change in units produced is increased because the new work force has to make-up for laid-off employees. This isn’t much work to be made up, so this would be the best option for the plant under the conditions of a Fixed Cost for $1million.<o:p></o:p></span></div><div class="MsoNormal" style="tab-stops: 57.0pt;"><span style="font-family: 'Times New Roman', serif;">Assuming the Fixed Cost for $3 million:<o:p></o:p></span></div><div class="MsoNormal" style="tab-stops: 57.0pt;"><span style="font-family: 'Times New Roman', serif;">Total Cost = $4,400,000 + $3,000,000 = $7,400,000<o:p></o:p></span></div><div class="MsoNormal" style="tab-stops: 57.0pt;"><span style="font-family: 'Times New Roman', serif;">In this assumption, the Total Cost highly exceeds Total Revenue and must face an immediate shut down.<o:p></o:p></span></div><div class="MsoNormal" style="tab-stops: 57.0pt;"><span style="font-family: 'Times New Roman', serif;">TR < TC = $5,000,000 < $7,400,000 = Immediate shut down<o:p></o:p></span></div><div class="MsoNormal" style="tab-stops: 57.0pt;"><span style="font-family: 'Times New Roman', serif;">A lay-off would not be an option due to the amount make-up work needed from employees. The new productivity is more than double the amount.<o:p></o:p></span></div><div class="MsoNormal" style="tab-stops: 57.0pt;"><span style="font-family: 'Times New Roman', serif;">Lay-off = ($5,000,000 - $7,400,000) / $80 = -30,000 employees<o:p></o:p></span></div><div class="MsoNormal" style="tab-stops: 57.0pt;"><span style="font-family: 'Times New Roman', serif;">Worker Productivity = 200,000 / 20,000 = 10<o:p></o:p></span></div><div class="MsoNormal" style="tab-stops: 57.0pt;"><span style="font-family: 'Times New Roman', serif;"><br />
</span></div><div class="MsoNormal" style="line-height: 200%; tab-stops: 57.0pt;"><span style="font-family: 'Times New Roman', serif;"> In conclusion, the scenario is an example of what many plants face whenever costs exceed revenue. As for this situation, the plant can operate for a short time with minor lay-offs only with a Fixed Cost of $1 million. It is unfortunate how the fate of the plant must cease production with the Fixed Cost for $3 million. From calculation to calculation, you should now be able to determine a similar situation if ever encountered.<o:p></o:p></span></div><div class="MsoNormal" style="tab-stops: 57.0pt;"><br />
</div><div class="MsoNormal" style="tab-stops: 57.0pt;"><b style="mso-bidi-font-weight: normal;"><u><span style="font-family: 'Times New Roman', serif;">References:<o:p></o:p></span></u></b></div><div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; margin-left: .5in; margin-right: 0in; margin-top: 0in;"><span style="font-family: 'Times New Roman', serif;">Armstrong, Kotler. (2009). Introduction to Marketing (9<sup>th</sup> Ed.).<o:p></o:p></span></div><div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in; margin-left: .5in; margin-right: 0in; margin-top: 0in;"><span class="normal"><span style="border-bottom-color: windowtext; border-bottom-style: none; border-bottom-width: 1pt; border-left-color: windowtext; border-left-style: none; border-left-width: 1pt; border-right-color: windowtext; border-right-style: none; border-right-width: 1pt; border-top-color: windowtext; border-top-style: none; border-top-width: 1pt; font-family: 'Times New Roman', serif; padding-bottom: 0in; padding-left: 0in; padding-right: 0in; padding-top: 0in;">Pearson Education, Inc, Upper Saddle River, New Jersey.</span></span><span style="font-family: 'Times New Roman', serif;"><o:p></o:p></span></div><div class="MsoNormal" style="tab-stops: 57.0pt;"><br />
</div>Scootland Economicshttp://www.blogger.com/profile/15761305973067659959noreply@blogger.com35tag:blogger.com,1999:blog-8370045113354642055.post-9071453499045129312011-02-07T16:49:00.000-08:002011-02-07T16:49:00.187-08:00Production and Perfect Competition pt 1<div class="MsoNormal">Sir Shannon Scott Williams</div><div class="MsoNormal">January 17<sup>th</sup>, 2010</div><div class="MsoNormal">ECON220</div><div class="MsoNormal">Unit 3: Discussion Board</div><div class="MsoNormal"><br />
</div><div class="MsoNormal"><br />
</div><div align="center" class="MsoNormal" style="text-align: center;"><strong><u><span style="color: black;"><span class="Apple-style-span" style="font-size: x-large;">Production And Perfect Competition</span><span class="Apple-style-span" style="font-weight: normal;"><o:p></o:p></span></span></u></strong></div><div align="center" class="MsoNormal" style="text-align: center;"><br />
</div><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgl4IsU_7MJ7hH_2d7ea4p9mt0wtwzfYZBTodRpHrWw6adaYSEx4RXgbubbW5zBKqER7CarRdKrTrYLTazzfKvlkQM0Y2oAgeN9d9lkOD2pDv4SCX5WidMBPMFdHgH2E4d8uZPf5xmzQJ1Y/s1600/gold-monopoly-520x374.jpg" imageanchor="1" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img border="0" height="230" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgl4IsU_7MJ7hH_2d7ea4p9mt0wtwzfYZBTodRpHrWw6adaYSEx4RXgbubbW5zBKqER7CarRdKrTrYLTazzfKvlkQM0Y2oAgeN9d9lkOD2pDv4SCX5WidMBPMFdHgH2E4d8uZPf5xmzQJ1Y/s320/gold-monopoly-520x374.jpg" width="320" /></a></div><div class="MsoNormal"><span style="mso-tab-count: 1;"> </span>When I think of perfect competition, I think of something similar to a monopoly, however the difference is that a perfect competition is <i style="mso-bidi-font-style: normal;">a market in which all other participating markets are price-takers, </i>(Krugan, Wells, 2009, p. 330).<span style="mso-spacerun: yes;"> </span>In USA, the government tends to put limits on monopolies, but <i style="mso-bidi-font-style: normal;">most obstacles for perfect competitions are left out</i>, (Krugan, Wells, 2009, p. 331).<span style="mso-spacerun: yes;"> </span>Choosing a perfect competition should be the matter of what is the first line of a production (eg. steel used to make automobiles).</div><div class="MsoNormal"><br />
</div><div class="MsoNormal"><span style="mso-tab-count: 1;"> </span>To my knowledge for the local area, there is a chicken farm named Kagel’s Chicken Farm.<span style="mso-spacerun: yes;"> </span>Factors that help support Kagel’s are that there are several different types of buyers and sellers for whole chickens, eggs, and fertilizer.<span style="mso-spacerun: yes;"> </span>Buyers would be slaughterhouses for live chickens, food stores for eggs, and those in need of fertilizer.<span style="mso-spacerun: yes;"> </span>Sellers, like Kagel’s, would be those limited to chicken farming.</div><div class="MsoNormal"><br />
</div><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEge_lNkoYkzzN4C_daJ840dBQfUU_rEN8cTjpoplrBq8vkBIAmqVjfVbp91XkUWleoUp7HSgJ2QM8v3qqjmre3Fd_nWzw5PrRSUhLhlftdQrrCVkHHsV9z2vtR_OlAlp94va11DisBqnslC/s1600/dog-and-baby-chick.jpg" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" height="251" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEge_lNkoYkzzN4C_daJ840dBQfUU_rEN8cTjpoplrBq8vkBIAmqVjfVbp91XkUWleoUp7HSgJ2QM8v3qqjmre3Fd_nWzw5PrRSUhLhlftdQrrCVkHHsV9z2vtR_OlAlp94va11DisBqnslC/s320/dog-and-baby-chick.jpg" width="320" /></a></div><div class="MsoNormal"><span style="mso-tab-count: 1;"> </span>Being that Kagel’s is a base supplier, this makes it a price-taker giving it the advantage to alter production without heavily affecting the market price for its products, also known as a standardized product.<span style="mso-spacerun: yes;"> </span><span class="apple-style-span"><span style="color: black;">Kagel’s and other chicken farmers sell their products at market price, a base price that is offered in the marketplace.<span style="mso-spacerun: yes;"> </span>Perfect competitions, like Kagel’s, cannot change prices based on their production due to the ease of entry and exit for farming.<span style="mso-spacerun: yes;"> </span>Due to this, governments do place regulations for safety.<span style="mso-spacerun: yes;"> </span>The regulations include: </span></span><i style="mso-bidi-font-style: normal;"><span style="color: black;">all poultry establishments develop and implement a written sanitation standard operating procedures (SSOPs), requires all meat and poultry establishments to develop and implement a HACCP program</span></i><span style="color: black;">, (Economic Research Service, 2009</span>).<span style="mso-spacerun: yes;"> </span>Other regulations are more specific to slaughterhouse industries.<span style="color: black;"><o:p></o:p></span></div><div class="MsoNormal"><br />
</div><div class="MsoNormal"><span style="mso-tab-count: 1;"> </span>In conclusion, the perfect competitive market is narrowed down to the beginning of what a product could be.<span style="mso-spacerun: yes;"> </span>The competitors for perfect competition are limited to those willing to participate.<span style="mso-spacerun: yes;"> </span>In the case for Kagel’s, and others alike, their supply must weigh a certain amount before being sold.<span style="mso-spacerun: yes;"> </span>Kagel’s products are sold at market price.<span style="mso-spacerun: yes;"> </span>Consumers who wish to purchase products from Kagel’s are those of the slaughterhouse industry which supply uncooked or pre-cooked chickens to their consumers.<span style="mso-spacerun: yes;"> </span>Other consumers are food stores interested in the eggs which the chickens produce.<span style="mso-spacerun: yes;"> </span>Also, there are consumers for fertilizer which is produced from chicken manure.<span style="mso-spacerun: yes;"> </span>In order for Kagel’s to enter and remain in business, they must meet government safety standards.<span style="mso-spacerun: yes;"> </span>In the real world, Kagel’s has the advantages of their consumers due to the great demand from each industry.<span style="mso-spacerun: yes;"> </span>If one industry decrease demand for a product, Kagel’s still has the opportunity to deliver to another industry.</div><div class="MsoNormal"><br />
</div><div class="MsoNormal"><b style="mso-bidi-font-weight: normal;"><u>References:<o:p></o:p></u></b></div><div class="MsoNormal"><br />
</div><div class="MsoNormal" style="margin-left: .5in;">Armstrong, Kotler. (2009). Introduction to Marketing (9<sup>th</sup> Ed.).</div><div class="MsoNormal" style="margin-left: .5in;"><span class="normal"><span style="border: none windowtext 1.0pt; mso-border-alt: none windowtext 0in; padding: 0in;">Pearson Education, Inc, Upper Saddle River, New Jersey.</span></span></div><div class="MsoNormal" style="margin-left: .5in;"><br />
</div><div class="MsoNormal" style="margin-left: .5in;">Economic Research Services. (2009). “A<i style="mso-bidi-font-style: normal;"><span style="color: black;">ll poultry establishments develop and implement a written sanitation standard operating procedures (SSOPs), <span style="mso-spacerun: yes;"> </span>requires all meat and poultry establishments to develop and implement a HACCP program”. </span></i><span style="color: black;">Ers.Usda.Gov</span></div><div class="MsoNormal" style="margin-left: 1.0in;">Retrieved 1.18.2011, from, <a href="http://www.ers.usda.gov/briefing/foodsafety/private.htm">http://www.ers.usda.gov/briefing/foodsafety/private.htm</a></div>Scootland Economicshttp://www.blogger.com/profile/15761305973067659959noreply@blogger.com17tag:blogger.com,1999:blog-8370045113354642055.post-60329930015638226622011-02-05T16:08:00.000-08:002011-02-05T16:08:53.325-08:00Microeconomics and Market Systems pt 2<div align="center" class="MsoNormal" style="text-align: center;"><span style="font-family: 'Times New Roman', serif; font-size: 18pt; line-height: 115%;">Sir Shannon Scott Williams<o:p></o:p></span></div><div align="center" class="MsoNormal" style="text-align: center;"><br />
</div><div align="center" class="MsoNormal" style="text-align: center;"><br />
</div><div align="center" class="MsoNormal" style="text-align: center;"><br />
</div><div align="center" class="MsoNormal" style="text-align: center;"><span class="apple-style-span"><span style="font-family: 'Times New Roman', serif; font-size: 18pt; line-height: 115%;">Microeconomics</span></span><span style="font-family: 'Times New Roman', serif; font-size: 18pt; line-height: 115%;"><o:p></o:p></span></div><div align="center" class="MsoNormal" style="text-align: center;"><br />
</div><div align="center" class="MsoNormal" style="text-align: center;"><br />
</div><div align="center" class="MsoNormal" style="text-align: center;"><br />
</div><div align="center" class="MsoNormal" style="text-align: center;"><span style="font-family: 'Times New Roman', serif; font-size: 18pt; line-height: 115%;">Unit 2: Individual Project<o:p></o:p></span></div><div align="center" class="MsoNormal" style="text-align: center;"><br />
</div><div align="center" class="MsoNormal" style="text-align: center;"><strong><span style="color: black; font-size: 18pt; font-weight: normal; line-height: 115%;">Microeconomics and Market Systems</span></strong><b style="mso-bidi-font-weight: normal;"><span style="font-family: 'Times New Roman', serif; font-size: 18pt; line-height: 115%;"><o:p></o:p></span></b></div><div align="center" class="MsoNormal" style="text-align: center;"><br />
</div><div align="center" class="MsoNormal" style="text-align: center;"><br />
</div><div align="center" class="MsoNormal" style="text-align: center;"><span style="font-family: 'Times New Roman', serif; font-size: 18pt; line-height: 115%;">American InterContential University, Online<o:p></o:p></span></div><div align="center" class="MsoNormal" style="text-align: center;"><span style="font-family: 'Times New Roman', serif; font-size: 18pt; line-height: 115%;">Professor </span><a href="https://mycampus.aiu-online.com/classroom/Pages/course.aspx?Class=307416&tid=188"><span style="color: windowtext; font-family: 'Times New Roman', serif; font-size: 18pt; line-height: 115%; text-decoration: none;">Ramin Maysami</span></a><span class="apple-style-span"><span style="color: black; font-family: 'Times New Roman', serif; font-size: 18pt; line-height: 115%;">, Ph.D., CFP.</span></span><span style="font-family: 'Times New Roman', serif; font-size: 18pt; line-height: 115%;"><o:p></o:p></span></div><div align="center" class="MsoNormal" style="text-align: center;"><br />
</div><div align="center" class="MsoNormal" style="text-align: center;"><br />
</div><div align="center" class="MsoNormal" style="text-align: center;"><span style="font-family: 'Times New Roman', serif; font-size: 18pt; line-height: 115%;">January 15<sup>th</sup>, 2011<o:p></o:p></span></div><div align="center" class="MsoNormal" style="text-align: center;"><br />
</div><div class="MsoNormal"><b style="mso-bidi-font-weight: normal;"><u><span style="font-family: 'Times New Roman', serif; font-size: 12pt; line-height: 115%;">Abstract:<o:p></o:p></span></u></b></div><div class="MsoNormal"><b style="mso-bidi-font-weight: normal;"><u><span style="font-family: 'Times New Roman', serif; font-size: 12pt; line-height: 115%;"><br />
</span></u></b></div><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEir-8yBkiX5qFXYkY8su104IZx5FPe4Dts8yVaRUy4IyYTujKd7afZBSxPgxS_YcKfqzEhybgP1aa_H1Zo56KcAs4pxzLFDNdv6tdgO56ZxkYGaxDh6lVUtRdWLi9URgFCZBCjErkfa7Beo/s1600/gas_prices.jpg" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" height="320" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEir-8yBkiX5qFXYkY8su104IZx5FPe4Dts8yVaRUy4IyYTujKd7afZBSxPgxS_YcKfqzEhybgP1aa_H1Zo56KcAs4pxzLFDNdv6tdgO56ZxkYGaxDh6lVUtRdWLi9URgFCZBCjErkfa7Beo/s320/gas_prices.jpg" width="320" /></a></div><div class="MsoNormal" style="line-height: 200%;"><span style="font-family: 'Times New Roman', serif; font-size: 12pt; line-height: 200%;"> In every economy, prices tend to change due to the scarcity of resources. A season changes from autumn to winter, and consumers are likely to have less demand for autumn clothing and increased demand for winter clothing. This example is just one factor for the price elasticity of demand. To prepare for changing prices, economists use this tool to understand how it will affect gains, or losses, on revenue. For certain products, if the price increases too much, consumers may lose interest and consider another product. Other products may not have a change at all due to the great demand. This paper will give a scenario on the change in price and demand, and how to understand the calculations to what equals the price elasticity of demand. Once understood, readers will be able to determine the elasticity of the product.<o:p></o:p></span></div><div class="MsoNormal" style="line-height: 200%;"><br />
</div><div class="MsoNormal" style="line-height: 200%;"><span style="font-family: 'Times New Roman', serif; font-size: 12pt; line-height: 200%;"> In the given scenario, you own a business painting a developmental neighborhood. There are several houses to be painted and you have a high demand for paint. The current rate per gallon for paint is $3.00 a gallon in which you normally purchase 35 gallons. Over a period of time, your painting business does great, and then price increases to $3.50 per gallon. Due to that change you are now purchasing 20 gallons of paint. To understand the elasticity of this product, you will be shown how to calculate the <i style="mso-bidi-font-style: normal;">price elasticity of demand</i>, <i style="mso-bidi-font-style: normal;">change in price percentage</i>, and <i style="mso-bidi-font-style: normal;">change in quantity demanded</i>, (Krugan, Wells, 2009, p. 144-145).<o:p></o:p></span></div><div class="MsoNormal" style="line-height: 200%;"><span style="font-family: 'Times New Roman', serif; font-size: 12pt; line-height: 200%;"><br />
</span></div><div class="MsoNormal"><span style="font-family: 'Times New Roman', serif; font-size: 12pt; line-height: 115%;">Equation for price elasticity of demand equals:<o:p></o:p></span></div><div class="MsoNormal" style="text-indent: .5in;"><span style="font-family: 'Times New Roman', serif; font-size: 12pt; line-height: 115%;">(Percentage change in quantity demanded / Percentage change in price)<o:p></o:p></span></div><div class="MsoNormal"><span style="font-family: 'Times New Roman', serif; font-size: 12pt; line-height: 115%;">In order to calculate price elasticity of demand we must first determine percentage change in quantity demanded and also percentage change in price.<o:p></o:p></span></div><div class="MsoNormal"><span style="font-family: 'Times New Roman', serif; font-size: 12pt; line-height: 115%;">Percentage (%) change in quantity demanded equals:<o:p></o:p></span></div><div class="MsoNormal"><span style="font-family: 'Times New Roman', serif; font-size: 12pt; line-height: 115%;"> [(New quantity – Old quantity) / Old quantity] x 100 = % Change in quantity demanded<o:p></o:p></span></div><div class="MsoNormal"><span style="font-family: 'Times New Roman', serif; font-size: 12pt; line-height: 115%;">To calculate your percentage change in quantity demand, take the new quantity demanded, 20 gallons of paint, minus the old quantity demanded, 35 gallons of paint, and then divided that by the old quantity demanded, 35 gallons of paint, and finally multiply by 100.<o:p></o:p></span></div><div class="MsoNormal"><span style="font-family: 'Times New Roman', serif; font-size: 12pt; line-height: 115%;"> [(20 – 35) / 35] x 100 = (-3/7) x 100 = -0.42 x 100 = |-42%| = 42%<o:p></o:p></span></div><div class="MsoNormal"><span style="font-family: 'Times New Roman', serif; font-size: 12pt; line-height: 115%;">The result is a negative percentage due to the demand in paint decreased, but report the percentage as an absolute value.<o:p></o:p></span></div><div class="MsoNormal"><span style="font-family: 'Times New Roman', serif; font-size: 12pt; line-height: 115%;">Next calculate the percentage change in price.<o:p></o:p></span></div><div class="MsoNormal"><span style="font-family: 'Times New Roman', serif; font-size: 12pt; line-height: 115%;">Percentage (%) change in price equals:<o:p></o:p></span></div><div class="MsoNormal"><span style="font-family: 'Times New Roman', serif; font-size: 12pt; line-height: 115%;"> [(New price – Old price) / Old price] x 100 = % Change in price<o:p></o:p></span></div><div class="MsoNormal"><span style="font-family: 'Times New Roman', serif; font-size: 12pt; line-height: 115%;">To calculate our percentage change in price, take the new price, $3.50 per gallon of paint, minus the old price, $3 per gallon of paint, and then divided that by the old price, $3 per gallon of paint, finally multiply by 100.<o:p></o:p></span></div><div class="MsoNormal"><span style="font-family: 'Times New Roman', serif; font-size: 12pt; line-height: 115%;"> [($3.50 - $3) / $3] x 100 = (1/6) x 100 = 0.166 x 100 = 16 %<o:p></o:p></span></div><div class="MsoNormal"><span style="font-family: 'Times New Roman', serif; font-size: 12pt; line-height: 115%;">Input those percentage changes to the price elasticity of demand, (percentage change in quantity demanded / percentage change in price).<o:p></o:p></span></div><div class="MsoNormal"><span style="font-family: 'Times New Roman', serif; font-size: 12pt; line-height: 115%;">Price elasticity of demand equals:<o:p></o:p></span></div><div class="MsoNormal"><span style="font-family: 'Times New Roman', serif; font-size: 12pt; line-height: 115%;"> 42% Quantity demanded change / 16% Price change = 2.62<o:p></o:p></span></div><div class="MsoNormal"><span style="font-family: 'Times New Roman', serif; font-size: 12pt; line-height: 115%;"><br />
</span></div><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhnmNnolf3jJvC7tUoYXztISWC-sPc6FF3o9Am2nzbD89tFML6XAZUU78R15LufvokIRgnIT2nr05_LztQEq7yQSEzuGyo81GfwxhiiUbl58dkbksdH-kC0vepHACctQOxCjXFSspBDtoZM/s1600/mortgage-rate-calculator.jpg" imageanchor="1" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhnmNnolf3jJvC7tUoYXztISWC-sPc6FF3o9Am2nzbD89tFML6XAZUU78R15LufvokIRgnIT2nr05_LztQEq7yQSEzuGyo81GfwxhiiUbl58dkbksdH-kC0vepHACctQOxCjXFSspBDtoZM/s1600/mortgage-rate-calculator.jpg" /></a></div><div class="MsoNormal" style="line-height: 200%;"><span style="font-family: 'Times New Roman', serif; font-size: 12pt; line-height: 200%;"> As you can see from the calculations for price elasticity of demand, 2.62, this product would be considered elastic, <i style="mso-bidi-font-style: normal;">when the price elasticity of demand is greater than one</i>, (Krugan, Wells, 2009, p. 149). It is logical that you would buy less paint due to the price increase. This price increase affects your business expenses. Suppose you accepted the price change at $3.50, and bought 30 gallons of paint, you would almost have the same amount of paint, short 5 gallons. However if the price per gallon decreased the next month to $2.50, you could have saved money from your expenses if you instead bought 20 gallons of paint. Clearly, when prices change, consumers should be cautious because the price could change again.<o:p></o:p></span></div><div class="MsoNormal" style="line-height: 200%;"><b style="mso-bidi-font-weight: normal;"><u><span style="font-family: 'Times New Roman', serif; font-size: 12pt; line-height: 200%;">References:</span></u></b><span style="font-family: 'Times New Roman', serif; font-size: 12pt; line-height: 200%;"><o:p></o:p></span></div><div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in;"><span style="font-family: 'Times New Roman', serif; font-size: 12pt;"> Krugan, Wells. (2009). Economics (2<sup>nd</sup> Ed.).<o:p></o:p></span></div><div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0in;"><span style="font-family: 'Times New Roman', serif; font-size: 12pt;"> Worth Publishers. AIU Online Version<o:p></o:p></span></div><div class="MsoNormal"><br />
</div>Scootland Economicshttp://www.blogger.com/profile/15761305973067659959noreply@blogger.com26