Citation and Plagiarism - 1836 Words

Plagiarism in an academic field is very unethical. There is no difference between stealing academic work that is not one’s own and going into a store to steal merchandise. The consequences for both offences are often harsh and life altering. One can lose credibility, lose a hard-earned reputation, be charged criminally, kicked out of school or be financially ruined by any judicial proceedings against them. The cost of saving a few hours of academic study is not worth it in the big picture of life of any student. Plagiarism is also a major problem for academic facilities as well. The schools could lose there accreditation if it was discovered the work of their students was not original but merely recycled work of other students or†¦show more content†¦Otherwise, you will be hiding someone’s ideas and suggesting it were yours (Fastfacts: Plagiarism and Academic Integrity, 2005, p.4). It is important to identify the difference between the information and idea from the source and your own. According to the â€Å"When to Document† paragraph 2, Avoiding Plagiarism (2006), common knowledge information does not require documentation. It defines common knowledge as â€Å"widely known information about current events, famous people, geographical facts, or familiar history† (When to Document, paragraph 2, Avoiding Plagiarism, 2006). Common knowledge may vary from person to person. It is a common knowledge to you but may not be for me. Generally, knowledge that could be found in a general reference book is common knowledge. With a lot of information in mind, some students start writing the paper with their own words and may not be aware that they have already implied someone’s information or ideas in their writing. As per Fastfacts: Plagiarism and Academic Integrity, 2005, p.10, golden rules of avoiding plagiarism, re-phrasing the information or ideas into your own words does not eliminate the need of citation. You must give credit in a citation reference page to the source of information even though you phrased them in your words. According to the articles â€Å"Seven Rules†, paragraph 2, Avoiding PlagiarismShow MoreRelatedPlagiarism and Citation Essay949 Words   |  4 PagesPlagiarism: Writing can be a difficult task for some people. For those people, before they start writing, the first thing they do is probably idea gathering, maybe looking for relate article on newspaper or magazine, look up some definition in the dictionary, check the World Wide Web, or even take a trip to the library. Often, they found what they are looking for, and before they know it, they start copying it, maybe a couple of word, few sentence, other people ¡Ã‚ ¦s idea, or they even copy theRead MoreEssay On Plagiarism1381 Words   |  6 Pagesyour eighth grade lesson on plagiarism and now you have no idea what it is or anything about it. On top of everything else, you now need to create a bibliography for a paper that if plagiarized, could cost you your entire grade for the class. Luckily for you, this paper will provide you with the definition of plagiarism, why you should document your sources, and information and differences between two citation formats, MLA and APA. What is plagiarism?, you ask. Plagiarism is an act of fraud. It involvesRead MorePlagiarism in College Work Essay example656 Words   |  3 Pages Plagiarism takes various forms. A student may cheat doing something as extreme as purchasing a paper, hiring someone to write a paper or turning in a paper freely provided by a friend. Many students unknowingly commit Plagiarism by failing to properly cite their sources crediting the authors. Still others cite, but plagiarize by coping much too much and writing far, far too little of their own synthesized thoughts and ideas. Students must be careful about copying too much. If a paper is mostlyRead MorePlagiarism: These Words Are Not Yours. Eddie N Hudson,1341 Words   |  6 Pages Plagiarism: These Words Are Not Yours Eddie N Hudson, Jr. Augusta University Abstract Plagiarism is a word that is introduced as early as elementary school. Students are encouraged when writing research papers to use their own words. The rough draft is marked with the stains of red ink and a comment saying â€Å"these words are not yours.† This paper will give you a definition and different types of plagiarism. You will also be provided with steps to prevent plagiarism. Citations areRead MorePlagiarism in Research Writing Essay1052 Words   |  5 PagesPlagiarism comes about when a person uses words or ideas from another person’s work but fails to credit the source of the ideas or words. Scholarly work of any nature mainly requires the writing of dissertations, treatises or term papers in the world of academia. Students in institutions of higher learning, as part of the course work, carry out research and present their results in the form of dissertations or term papers. The assignments’ formatting usually follows standards namely the Americ anRead MorePlagiarism in College Writing1077 Words   |  5 PagesPlagiarism in College Writing Introduction Plagiarism occurs in many forms. Self-plagiarism and inadvertent plagiarism are two forms of plagiarism. Students plagiarize for many reasons. Self-plagiarism is a form of plagiarism that is difficult to detect and often over looked. Inadvertent plagiarism is often caused by sloppy work and poor citation preparation skills. Proper education and practicing citations along with the use of online tools will assist the student inRead MoreEssay On Plagiarism1306 Words   |  6 PagesBenjmain Bell Professor Malena Prinzing CIS 50 21 September 2017 Plagiarism in College Work Plagiarism takes various forms. A student may plagiarize doing something as extreme as purchasing a paper, hiring someone to write a paper or turning in a paper freely provided by a friend. Many students unknowingly commit Plagiarism by failing to properly cite their sources crediting the authors. Still others cite, but plagiarize by copying much too much and writing far, far too little of their own synthesizedRead MoreCOLL100 QUIZ 21491 Words   |  6 Pagesin either the reference or citation.   B.omit the date in the citation but use the acronym n.d. (no date) in the reference page.   C.use the acronym n.d. (no date) in both the citation and reference.   D.bold the source. Question 3 of 20 0.5/ 0.5 Points Read this section of text from the APUS   Plagiarism Policy (2014,  http://www.apus.edu/student-handbook/academic-dishonesty/index.htm) :    The most frequently observed form of academic dishonesty is plagiarism. 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On the sources that you used to gather information, if you can not locate the author, make sure to scroll down and look everywhere for an author. If you cannot locate an author, make sure that you appropriately cite the website in your bibliography. Although it may seem obvious, while you use the Internet to gather

Journal Sustainable Development Of Energy -Myassignmenthelp.Com

Question: Discuss About The Journal Sustainable Development Of Energy? Answer: Introducation The aim of the current assignment is to evaluate the nature of the property investment made by the client. This investment is about the ownership of offices located in the business district of the large provincial city in the United Kingdom. Current property is fully under the control of an insurance company in the form of corporate offices. The total area of the property comprises of 4500M2. Property is on lease basis for a total period of 10 years along with some conditions such as full repairing and insuring terms as any damage to the property will bear by the lessee who taken the property on lease. Rent of the property is exclusively1125000 without the inclusion of business rates. Current business rates payable amounts to700,000 per annum. Market rent of this property is higher than the actual rate payable by a lessee is1485000 per annum which is360000 higher than the actual rent payable by a lessee to the owner. accounting to the commercial property survey, it has observed that yield generated from this property would get an increase to 5.1 in the future will increase the quality and demand of this property. The minimum target rate of return for the whole region in which the property is located will achieve 6% that grabs the attention of all the investment bankers who intends to invest in a successful project. In the past two years, the rate of market rental growth was 1% which remains the same in the future. Market Valuation Every investment seekers pay more attention to the valuation of the market before entering in the segment to invest their precious stuff at risk. Knowledge about various approaches for valuing commercial property available on rent is called as an investment property (Limaei, Safari and Merceh, 2017). The aim of every investment is to earn money in return as every individual wants to double their investment by trusting right people. Generating information regarding the nature of all the investments is essential to get the desired return over the property in a given span of time (Agnihotri and Bhattacharya, 2017). The property market is a fully uncertain area where the price of the property is changing in few seconds due to the increase in the market competition. The aim of a person in valuing the investment property is to know about all the risks incurred in the future investment along with additional or uncertain costs to be borne by the investor. Financial advisors or investment bankers provide legal, financial and economic suggestion to an investor to invest their money in right products (Mervelskemper and Streit, 2017). Return on every property depends on the growth of the product with the passage of time. Time value of money concept is used to know about the future by applying present resources available to an individual. According to this concept, the initial investment is multiplied by the discounting rate to know about the present value of the investments in the future. Term and reversion Rent passing- 1125000 YP 7years@3%- 33.95 Term value= Rent passing*Years purchase =1125000*33.95 =38193750 Reversion Market Rent-1485000 YP Perpetuity@3%- 33.33 PV 7 years @3%- 0.81 Reversion value= Market Rent*YP Perp*PV = 38193750 Valuation- 38193750+ 40090990.5 = 78284740.5 Market Value = 78284740.5/6.0 = 13047456 It is one of the methods of valuing the investment property by knowing about the risks and returns associated with the same. The focus of the investors is more on knowing all the risks related with the property in the form of additional costs, uncertain loss, changes in the tax system, property taxes, increasing the cost of living (Jefferies, 2017). All these factors will affect the return generated on the investment. This method considers various capitalization rates to the cash flow incomes of both the current as well as future income. The term refers to the present income and reversion denotes the future income arises from the proceeds of the current investment after a specific period of time (Term and reversion and hardcore method, 2018). An investor is more curious in knowing about the reversion rather than paying attention to their current income. Every individual is worried about their future as they want to secure their future by restoring more wealth to live a good life with their loved ones. Income arises from the rent of the property counts in the periodic steps by using term rate (Henneberry ed., 2017). Term income is at par or lower risk income as current income can increase or decrease according to the will of an individual but at the same time, reversion income is not- controllable. To control that income, an individual tries to minimise all the risks in the form of obstacles comes in the path of an individual. Reversion income is prone to severe risks which may increase or decrease the returns on the investment over a certain time period as it is fluctuating in nature. Layer/hardcore Value of core Rent passing-1125000 YP in perpetuity @3%-33.33 Value of core= Rent Passing* YP = 1125000*33.33 = 37496250 Value of top slice Market Rent- 1485000 YP in Perpetuity @3%- 33.33 PV 7@ 3%- 0.81 Value of top slice- 1485000*33.33*0.81 = 40090990.5 = 77587240.5 =77587240.5*5.1%= 3956949.26 = 77587240.5-3956949.26 = 73630291.24 Another method valuing the investment in property is a hardcore method which is also known as layering method which segregates rental income of the property in different layers (Baum, Mackmin and Nunnington, 2017). This method helps in prioritizing the income according to the risks incurred in the property in various categories (Li and Trutnevyte, 2017). The lowest risk in the rental income is categorized as core income which boosts the investment portfolio of an investor with a stable return over all the years. Returns related to the future uplifts will value at the same rate for all the years an investment held with the owner. Investment Appraisal Investment appraisal, as well as economic appraisal techniques, plays an integral role in grabbing the attention of the majority of investors towards various investment products. Investment Company uses investment appraisal techniques such as net present value method, payback period, the average rate of return and internal rate of return to determine the future value of the investments of all the investors (Dragan, Rosi and AvÃ… ¾ner, 2017). NPV determines the profitability generated from all the investments invested over a certain period of time using the time value of money. In this approach, cash flow arises from the investment in different years of the project will multiply with the discounting rate to ascertain the present value of the investments (Gajek and Kuci?ski, 2017). This present value is comparing with the initial investments to know thefavourableor negative results. The generated results will help an individual in advance before taking investment. Payback period is that technique in which greater emphasizes lies on the time duration of the project as this shows the effectiveness of the project by generating returns in the lesser period. An individual can select the best suitable project that generates higher return lesser time period to save their time to invest in more suitable tasks (Novak Pintari? and Kravanja, 2017). An internal rate of return concept is similar to the break-even concept in which an individual will earn higher at a specific rate of return to equalize the initial investment with the generated returns from the projects. Estimate the investment value of the property using discounted cash flow method Rent Passing- 1125000 YP 7 years @3%- 33.95 Market rent- 1485000 YP Perpetuity@3%- 33.33 PV 5 years @3%- 0.9151 = 1125000*33.95 = 37496250 = 1485000*33.33*0.9151 = 45292920.25 = 40090990.5 Market Value= 82789170.25 Investment value is determined by the above task using explicit growth discounting cash flow approach. Rent passing that is the current payable by a lessee to the owner of the property is used as an input along with the market rent. These two elements are multiplied two years purchase of 5 years of the total lease of the property at 3% yielding rate (Barton, 2017). Years to purchase in perpetuity are also used to determine the market value of the freehold investment property. Advantage f the freehold property is that the owner of the property has the advantage to get back its property which is given on a lease to the third party on a given rent for a specific period of time. In this approach, cash flow is multiplied by the discounting rate to ascertain the future returns generated on the total investment applied by an investor for a specific period of time (Herrendorf, Rogerson and Valentinyi, 2017). Net present value method is one of the techniques of discounted cash flow method which utilizes the time value of money concept. It is the proactive approach in which future actions can control by an individual by observing all the actions in advance in the present. Decision-making power and psychology ability of a person gets increases by using this particular approach in choosing highly earning project in the future which helps in compensating all kinds of costs incurred in the particular project. A motive of investors is to apply for their precious money in the valid and reliable project which has the higher return on investment percentage as compared to their competitors (Return on equity, 2018). Calculate NPV and IRR for the investment and also calculate Expected net of tax and gross of tax returns on equity Calculation of Initial Investment Particulars Term and reversion method Layer/hardcore method Market Value 13,047,456.00 73,630,291.24 Increase @10% 1,304,745.60 7,363,029.12 Initial Investment 14,352,201.60 80,993,320.36 Year Cash flow PV@3% Present value 0 14,352,201.60 1 14,352,201.60 1 1125000 0.970873786 1092233.01 2 1125000 0.942595909 1060420.398 3 1125000 0.915141659 1029534.367 4 1125000 0.888487048 999547.9289 5 1125000 0.862608784 970434.8824 Total Present Value 5152170.586 NPV - 9,200,031.01 Year Cash flow PV@3% Present value 0 80,993,320.36 1 80,993,320.36 1 1125000 0.970873786 1092233.01 2 1125000 0.942595909 1060420.398 3 1125000 0.915141659 1029534.367 4 1125000 0.888487048 999547.9289 5 1125000 0.862608784 970434.8824 Total Present Value 5152170.586 NPV - 75,841,149.78 Year Cash flow 0 - 1,435,201.60 1 1125000 2 1125000 3 1125000 4 1125000 5 1125000 IRR 73% Year Cash flow 0 - 80,993,320.36 1 1125000 2 1125000 3 1125000 4 1125000 5 1125000 IRR #NUM! Expected net of tax and gross of tax return on equity Net of tax ROE Debt 0.028 0.65 0.0182 Equity 0.35 0.049 0.01715 Shareholder's equity 0.03535 Gross tax ROE Debt 0.04 0.65 0.026 Equity 0.35 0.07 0.0245 Shareholder's equity 0.0505 Risk analysis Risk plays an important in every business and especially in estimating the market value of all the investment properties held by an individual for a certain period of time (Brindley, ed., 2017). The aim of an investor is to identify all the risks incurred in a project by using appropriate risks analysis structure. Monte Carlo simulation technique helps in keeping track on the increase or decrease in the market return over a short span of time (Owen, Morrison, Hoffman, Yoder and DeAngelis, 2017). This approach helps in resolving the qualitative issues faced by an individual in boosting the market returns of all the investments by making significant changes in the investment portfolio (Chowdhury, Nandy and Tameru, 2017). It is a mathematical technique that targets all the weaker sections of the investment portfolio to consider all the positive or negative changes made in the investments made by an investor. In this technique, various alternatives generated for a single problem which allow a user to consider the alternatives according to their choice. Every choice generated through this technique is customized by identifying the requirements of an individual (Milton, Farrell, Birkett and Krewski, 2017). An expert will analyze the investment profile of a user in keeping track on all the favourable and non-favourable aspects related to the clients investment. The current problem faced by an individual is of negative net present value due to lower returns as compared to the total initial investment applied by the firm. This is one of the macroeconomic tools helps an individual in making their choice to select the suitable option. Reliability of the two investments is judged by an entity before investing a single penny in two of the investments. Monte Carlo simulation is one of the risk analysis tools which come in the form of probability distribution platform which shows the probability of both success and failure (Monte Carlo Simulation, 2017). An individual can get the idea of positive or negative aspects of a single element to take the best suitable decisions which differ from one situation to another. Recommendations It is recommended to the owner of the freehold office premise property to value their property using hardcore or layer method as the market value of the property is higher in this approach as compared to the term and reversion method. Market value in this approach is73630291.24 as under this method year to purchase is valued in perpetuity instead of using the same rate. This method determines the total market return by summing up the returns of the two layers such as core and top slice. Market value in term and reversion is lesser in relation to layer method as in the first method total return is divided by minimum target return in ascertaining the total market return. Three techniques of the investments such as NPV, IRR, and return on equity highlight the major issue in the selection of the investment projects. Net present value method shows the negative amount in both the projects which cant select by the investor as this will increase the burden of costs. IRR shows the positive inclination towards the first project as they generate 73% return as against the other project which is not defined. Net tax and gross tax return on equity are higher in gross tax with 5% and 4% in net tax show the burden of the tax imposed on an individual in reducing their investment return. References Agnihotri, A. and Bhattacharya, S., 2017. Corporate Name Change and the Marketing Valuation of Firms: Evidence from an Emerging Market.International Journal of the Economics of Business. 24(1). pp.73-90. Barton, D., 2017. Refocusing capitalism on the long term: ownership and trust across the investment value chain.Oxford Review of Economic Policy. 33(2). pp.188-200. Baum, A., Mackmin, D. and Nunnington, N., 2017.The income approach to property valuation. Routledge. Brindley, C. ed., 2017.Supply chain risk. Taylor Francis. Chowdhury, R., Nandy, S. and Tameru, B., 2017. Abstract A41: Development of a risk analysis model for triple-negative breast cancer stages and treatment of African American women. Dragan, D., Rosi, B. and AvÃ… ¾ner, T., 2017. Synergies between an Observed Port and a Logistic Company: Application of the Discounted CashFlow Model and the Monte Carlo Simulation.Logistics Sustainable Transport. 8(1). pp.1-18. Gajek, L. and Kuci?ski, ?., 2017. Complete discounted cash flow valuation.Insurance: Mathematics and Economics. 73. pp.1-19. Henneberry, J. ed., 2017.Transience and Permanence in Urban Development. John Wiley Sons. Herrendorf, B., Rogerson, R. and Valentinyi, A., 2017. Structural Change in Investment and Consumption: A Unified Approach. Jefferies, R. L., 2017. History and development of real estate investment (income) valuation models. Li, F. G. and Trutnevyte, E., 2017. Investment appraisal of cost-optimal and near-optimal pathways for the UK electricity sector transition to 2050.Applied Energy. 189. pp.89-109. Limaei, S. M., Safari, G. and Merceh, G. M., 2017. Non-market valuation of forest park using travel cost method (case study: Saravan forest park, north of Iran).AUSTRIAN JOURNAL OF FOREST SCIENCE. 134(1). pp.53-74. Mervelskemper, L. and Streit, D., 2017. Enhancing Market Valuation of ESG Performance: Is Integrated Reporting Keeping its Promise?.Business Strategy and the Environment. 26(4). pp.536-549. Milton, B., Farrell, P.J., Birkett, N. and Krewski, D., 2017. Modeling U?Shaped Exposure?Response Relationships for Agents that Demonstrate Toxicity Due to Both Excess and Deficiency.Risk Analysis. 37(2). pp.265-279. Novak Pintari?, Z. and Kravanja, Z., 2017. The Importance of using Discounted Cash Flow Methodology in Techno-economic Analyses of Energy and Chemical Production Plants.Journal of Sustainable Development of Energy, Water and Environment Systems. 5(2). pp.163-176. Owen, L. A., Morrison, M. A., Hoffman, R. O., Yoder, B. A. and DeAngelis, M. M., 2017. Retinopathy of prematurity: A comprehensive risk analysis for prevention and prediction of disease.PloS one.12(2). p.e0171467. Term and reversion and healthcare method, 2018. Available through: https://www.proz.com/kudoz/english_to_arabic/finance_general/5916722-term_and_reversion_method_hardcore_method.html [Accessed on 16th January 2018]. Monte Carlo Simulation, 2017. Available through: https://www.palisade.com/risk/monte_carlo_simulation.asp [Accessed on 16th January 2018]. Return on equity, 2018. Available through: https://www.investinganswers.com/financial-dictionary/financial-statement-analysis/return-equity-roe-916 [Accessed on 16th January 2018].

Society And Schooling Essays - Abuse, Anti-social Behaviour

Society And Schooling Discrimination has many different meanings, but the most specific meaning is the exclusion from membership in any group. This results in unfair treatment or judgements. Any type of person can be discriminated against from women to minorities. Also, there are many different areas where one can run into discrimination such as public facilities or even just trying to get onto the bus. One of the first places that one learns about discrimination is in the school systems. Children do not usually know what discrimination is, and a lot of adults do not even realize that they are discriminating against others. I believe that discrimination is one of the major problems in the schools today, because no one realizes that it is a problem. Children in schools have their own clicks or groups that they like to be around. When a student is not involved with this group a lot of times they will be made fun of. Kids can be really harsh with one another, and they just continue to be rude and mean. A lot of kids get made fun of if they are not considered as "cool" as the other kids. There are so many different kinds of groups from the "preps", and "nerds", to the "jocks". Also, children can be made fun of for being overweight or just not pretty enough. Most of the time, students discriminate against other races or origins. They do this because the outside looks different, and most of the times they do not get to know the real person. Discrimination against different races has been a problem for a very long time. I think that since it has been a problem for such a long period of time that a lot of kids just learn to act that way. Handicapped are also discriminated a lot because they are different. These students can be physically, mentally, or just emotionally handicapped, but still students will not give them the time of day. The teachers themselves can also discriminate against their students with out even knowing it. Students are discriminated against for their gender or their grades. Teachers will put students in groups with the same types of people, so that the children who have difficulty learning do not have the opportunity. When I get my own classroom, I will try my hardest to not have discrimination in it. When I assign them group projects, I will pick their groups to give them the opportunity to get to know their fellow classmates. Also, I will make sure that there are no friends in the same group. The groups will remain the same for a couple of weeks, and then they will get new groups. Another option I would try is teaching them about the other nationalities, races, and religions. I would do this by devoting one day a week to the students to tell something about their origins, race, religion, etc.. Discrimination is a major problem in today's society, but we can do something about it by beginning in the schools. We need to educate these children about the different cultures in society so they will give people a chance.

John F Kennedy essays

John F Kennedy essays a) John F. Kennedy: raised in a wealthy and political family, whose mother was the daughter of the congressman and mayor, John F. Fitzgerald and gather was an ambassador to Great Britain from 1937-1940. Kennedy enrolled into the navy during WW2, won a seat in congress and won a Pulitzer Prize for Profiles in Courage. He suffered from back pain and Addisons disease, which had to be treated with cortisone everyday. He promises many citizens of the United States a leadership to get America moving again b) Flexible response: President Kennedy really wanted to set his mind and plans on changing the nations nuclear strategy. So. Kennedy didnt want to use the nuclear weapons for a minor problem between the Soviets, Kennedys consultants developed a policy called the flexible response. In the nations view this meant that the nations conventional forces had been mistreated during the building of the nuclear arms. This policy increased the defense spending and produced a branch called the Special Forces. Kennedy hoped to liver the risk of any nuclear war, which almost came close over the island of Cuba. c) Fidel Castro: a revolutionary leader in Cuba, which declares himself as a communist who greeted the Soviet Union with open arms. Castro wanted more power, which in 1956-1959, led to a guerrilla movement to trample down the dictator, Bastista. Many Americans portrayed Castro as a freedom fighter, but as the US and Cubas relationship became troubled. Castro took action by uprooting trade barriers against Cuban sugars. In which instantly, Castro relied on Soviets help for aid and political tyranny. d) Berlin Wall: Kennedys willpower and Americans advantage for nuclear striking power wanted to stop Khrushchev from closing down from the air and land between West Berlin and East Germany, On August 13, 1961, East Germans decided to build a concrete ...

Review McDonald's Organizational Chart Assignment

Review McDonald's Organizational Chart - Assignment Example In the case of McDonald’s organizational chart, the top management is headed by the chief executive officer called James A Skinner (Narapareddy, 2009). Just below the Chief executive there are vice presidents who are also the heads of the company’s different functional units. These functional units are managed from the head office and divided into smaller group managers in different markets where the company operates. These include group president – McDonalds Canada, president – MacDonald’s Asia/pacific, Middle East and Canada; Chief Operating officer – McDonald’s USA and the president of McDonald’s USA (Narapareddy, 2009). The group leaders in different markets are then divided into different divisions e.g. President – central division for McDonald’s USA, East Division for McDonald’s USA, West Division for McDonald’s USA etc. The company’s multidivisional structure therefore represents a geogr aphical structure with four important segments: McDonald’s – USA, McDonald’s – Europe, McDonald’s – Asia/pacific, Middle East and Africa; and McDonald’s – other countries and corporate (Narapareddy, 2009). This structure is a typical example of a multidivisional structure where divisions are managed geographically; each divisional manager managing a given geographical region. This is because theory suggests that multidivisional or divisional organizational chart marks off an organizational structure according to the demands of different markets, customers and products in their given business environment. In the case of McDonald’s organizational chart, the different divisions represent the demands of different geographical markets as illustrated in the organizational chart. McDonald’s organizational chart is a good chart representing a successful structure of the company. However, there are various improvements whi ch I could recommend for the organizational structure. First, I recommend that the divisions of the company should be based not only on the geographical markets but also the products of the company. For instance, the company may have food division, grocery division and beverages division. Another recommendation which I think can be more beneficial for the company is to increase the geographical divisions so as to reduce the burden of the divisional managers. For instance, McDonald’s Asia/Pacific, Middle East and Africa division may be divided into three divisions: McDonald’s Asia/Pacific, Middle East and Africa as different divisions not as a single division. The company should also divide McDonald’s Canada and Latin America division into three divisions namely Latin America Division, Canada Division and Mexico division. Europe’s division may also be divided into Eastern Europe and Western Europe divisions. Finally, a good recommendation for the companyâ €™s organizational structure is for the company to establish a central division which offers central services such as finance, CSR and other centrally managed services of the company. These central services are conducted with a direct link to the various divisions through an integrative, participative and proactive system which ensures that there is an effective information flow from the top management through different management levels to the various divisions of the company (Rollinson 2008). Despite the various aspects which require improvements, McDonald’

Environmental issues and management processes introduced to deal with Essay

Environmental issues and management processes introduced to deal with such issues - Essay Example One of the most recognised environmental effects brought about by the automotive industry is pollution. Basically, pollution can be said to occur when the introduction of chemicals, gases, fumes or even odor is released to the atmosphere (Tyler and Scott 2009). These causes harm and discomfort to both humans and other living things. It also causes damage to both natural and man-made environments. It is through activities brought about by an automotive industry that the issue of global warming comes in. Therefore, this paper is going to assess some of these issues. 1.2 Background of the Study The automotive industry has seen an outstanding change on its structure and management in the late 1990s. Lately, the new approaches have continued to weaken the customary structure of the industry (Law 1991). This includes ways in which the industry can be structured in order to be environmental friendly. Production process has been witnessed which encourages invention of electric vehicles which are friendlier to the environment (Law 1991). Globally, the automotive industry has witnessed a tremendous growth particularly in China (Law 1991). Nevertheless, the industry is faced by much challenges ranging from organization matter to its effects on the environment. In order to have a clear attention to detail of such issues, the present paper carried out investigate on currently literatures on automotive industry and its effects on the environment as discussed in chapter two. 1.3 Statement of the Problem In the last two decades, the automotive industry has been linked to unfavorable environmental harms. One of the key concerns involves globalization. Globalisation is referred as â€Å"the process through which regional economies and societies became integrated... From this research it is clear that the automotive industry has seen an outstanding change on its structure and management in the late 1990s. Lately, the new approaches have continued to weaken the customary structure of the industry. This includes ways in which the industry can be structured in order to be environmental friendly. Production process has been witnessed which encourages invention of electric vehicles which are friendlier to the environment. Globally, the automotive industry has witnessed a tremendous growth particularly in China. Nevertheless, the industry is faced by much challenges ranging from organization matter to its effects on the environment. In order to have a clear attention to detail of such issues, the present paper carried out investigate on currently literatures on automotive industry and its effects on the environment as discussed in chapter two. In the last two decades, the automotive industry has been linked to unfavorable environmental harms. One of t he key concerns involves globalization. Globalisation is referred as â€Å"the process through which regional economies and societies became integrated into a common network that has universal coverage†. Contemporary globalisation comprises incorporation of political thoughts through communication, transportation and trade. Thus the automotive industry plays a crucial role in this situation. In China, similar to other leading players in the automotive industries, globalisation has seen economic growth while the adverse environmental effects increase day by day.

A Look At Three Types Of Price Searchers Economics Essay

A Look At Three Types Of Price Searchers Economics Essay A monopoly is a firm producing a commodity for which there is no close substitute. There are usually some forms of barriers of entry. It is difficult to define a pure monopoly as close substitutes are difficult to define. For example, there are no close substitutes for cigarettes, but there are many substitutes for Marlboro. 1.1 Characteristics à ¢Ã¢â€š ¬Ã‚ ¢ Features (a) Only one seller. (b) Restricted entry by barriers. (c) Market information is not free and perfect. à ¢Ã¢â€š ¬Ã‚ ¢ Barriers to entry (a) Legal barriers create legal monopolies. (i) Public franchise: exclusive right to run a business, e.g. TVB. (ii) Government licence: exclusive right to entry into a business, e.g. taxi licence. (iii) Patent: exclusive right to use an invention, e.g. right to produce a drug. (b) Natural barriers create natural monopolies. (i) The average cost falls over a large volume of output before it rises. LRAC would be lower if an industry were under monopoly than if it was shared between two or more competitors. (ii) Control the supply of an essential raw material, e.g. most diamond mines in the world are controlled by De Beers Ltd. (iii) Economies of scale: The large fixed cost of production requires a large output to pull down the average cost, e.g. electricity generated by China Light Power Ltd. 1.2 Output And Price Decisions Definition A single-price monopoly is one that charges the same price for every unit of output it sells. The monopoly must decide how much to produce and what price to charge. It is a price-searcher. Definition A price searcher is a seller with sufficient market power to set its price by adjusting supply. Since there is only one firm in the industry, the demand curve of the firm is also the demand curve of the industry, and the seller faces a downward sloping demand curve. Table 1 illustrates the demand function of a petrol station. The marginal revenue is less than and falls faster than the price charged. The price is also equal to average revenue (AR). Table 1: Demand and marginal revenue Price (P, $/Litre) Quantity Demanded (Q) Total Revenue (TR = P x Q, $) Marginal Revenue (MR = ΆTR = ΆQ) ($/Extra Litre) 18 0 0 16 1 16 16 14 2 28 12 12 3 36 8 10 4 40 4 The monopoly maximises its profit by producing the level of output to MR = MC. Given the total cost as in Table 2, we can find that the best output level to maximise profit is at three litres, where both MC and MR are equal. The price charged is $12. Table 2: Demand and marginal cost Price (P, $/Litre) Quantity Demanded (Q) Total Revenue (TR=P x Q, $) Marginal revenue (MR = ΆTR / ΆQ, $/Extra Litre) Total Cost (TC, $) Marginal Cost ($/Extra Liter) 18 0 0 15 16 1 16 16 18 3 14 2 28 12 22 4 12 3 36 8 30 8 10 4 40 4 41 11 Graphically, the same conclusion can be derived in Figure 1. Figure 1 A monopolys output and price The price is determined by demand curve corresponding to the equilibrium quantity at which the MR equals to MC. The profit or loss is again determined by the ATC with reference to the quantity sold and the price charged. Owing to barriers to entry, economic profits will not be eliminated away in the long run. The only difference between short-run and long-run equilibrium is that in the long run, the firm will produce where MR = LRMC. 1.3 Single-price Monopoly Versus Perfect Competition A monopoly and perfect competition are two completely different market structures leading to different price and output decisions. We can summarise their differences as follows: Perfect Competition Monopoly à ¢Ã¢â€š ¬Ã‚ ¢ Price-taker à ¢Ã¢â€š ¬Ã‚ ¢ Monopoly influences its price à ¢Ã¢â€š ¬Ã‚ ¢ Produce where MR = MC à ¢Ã¢â€š ¬Ã‚ ¢ Produce where MR = MC à ¢Ã¢â€š ¬Ã‚ ¢ P = MR = MC à ¢Ã¢â€š ¬Ã‚ ¢ P > MC; P > MR à ¢Ã¢â€š ¬Ã‚ ¢ No barriers to entry à ¢Ã¢â€š ¬Ã‚ ¢ Restricts output, charges a higher price In terms of output, a monopoly is always accused of restricting output in order to push the price above the marginal cost. This is known as allocative inefficiency, leading to loss in social welfare. In Figure 2, PM and QM are the price and output decisions of a monopoly, which are less than the corresponding output and price decisions in perfect competition. We can see that the PC and PM for perfect competition are set at P = AR = MR = MC. Figure 2 Price and output decisions in a monopoly and in perfect competition Similarly, the output level is reduced from QC to QM, which will hurt both consumers and producers in terms of loss in consumer surplus and producer surplus. The sum of such loss is known as deadweight loss. Definition A deadweight loss is a loss to society that cannot be recovered. Figure 3 Inefficiency of a monopoly In Figure 3, some of the losses of consumers have been captured by the producer as monopoly gain. However, there is still deadweight loss as illustrated by the area of the triangle. In this respect, a monopoly reduces the potential gain to society in term of social welfare. 1.4 Shortcomings Of A Monopoly A monopoly has the following shortcomings: à ¢Ã¢â€š ¬Ã‚ ¢ Higher price and lower output than under perfect competition in both short run and long run. à ¢Ã¢â€š ¬Ã‚ ¢ Possibility of higher cost due to lack of competition. à ¢Ã¢â€š ¬Ã‚ ¢ Unequal distribution of income as income concentrates on monopolies. à ¢Ã¢â€š ¬Ã‚ ¢ Lack of incentive in invention and innovation. 1.5 Advantages Of A Monopoly A monopoly has the following advantages: à ¢Ã¢â€š ¬Ã‚ ¢ Economies of scale. à ¢Ã¢â€š ¬Ã‚ ¢ Possibility of lower cost curve due to more research and development and more incentives. à ¢Ã¢â€š ¬Ã‚ ¢ I nnovation and new products. 2. Monopolistic Competition The second type of price-searcher is monopolistic competition. Definition Monopolistic competition consists of features of perfect competition and monopoly. A firm in such a market structure is also referred to as open market price-searcher as it is not protected by barriers. 2.1 Characteristics à ¢Ã¢â€š ¬Ã‚ ¢ Large number of sellers (a) Each firm has a small market share. (b) This implies independence of firms. à ¢Ã¢â€š ¬Ã‚ ¢ Freedom of entry à ¢Ã¢â€š ¬Ã‚ ¢ Product differentiation Each firm has some market power over its loyal customer. à ¢Ã¢â€š ¬Ã‚ ¢ Each sellers product is a close substitute for many other sellers products (a) Products are made slightly different from others, i.e. differentiation. Definition In differentiation, products are made slightly different from others by brand, packaging, sales location and services. (b) Non-price competition is common. 2.2 Demand Curve Because of product differentiation, a firm can raise its price without losing all its customers. Therefore, the demand curve is downward sloping because a price rise results in the loss of some, but not all customers. The demand curve is relatively elastic because of substitutes from other firms. However, the actual elasticity depends on the degree of product differentiation. Generally, the less differentiated the product is, the more elastic the demand will be, and vice versa. 2.3 Price And Output Determination 2.3.1 Short run A firm in monopolistic competition faces a downward sloping demand curve. The marginal revenue (MR) curve of the firm in monopolistic competition is downward sloping. The profit is maximised where marginal revenue equals marginal cost. The profit-maximising output level is determined by the intersection of MR and MC curves. The profit-maximising price is determined by the demand curve. The firm can make a normal profit, an economic profit or a loss, depending on the difference between the price and the average total cost. Since each firm is small and has market power, no single firm can effectively influence what other firms do. If one firm changes its price, this action has no effect on the actions of the other firms. Figure 4 Monopolistic competition in the short run 2.3.2 Long run Economic profits in the short run will attract new entrants. When new firms enter, they share the market demand. The existing firms demand curve shifts inwards, representing less demand. This process continues until all economic profits are exhausted. When only normal profits remain, there is no incentive for new entrants. In Figure 5, the price and quantity are $140 and 60 units respectively. As the price is just equal to ATC, there is no economic profit. Figure 5 Monopolistic competition in the long run The long-run equilibrium will be a position where the downward sloping demand curve is tangent to the LRAC curve. However, the demand curve will never be tangent to the bottom of LRAC because it is downward sloping. The profit-maximising output is 60 units and price is $140. The firm in monopolistic competition has excess capacity as it does not produce at the optimum level of output where the LRAC is the lowest. Figure 6 Excess capacity in monopolistic competition 2.4 Shortcomings Monopolistic competition has the following disadvantages: à ¢Ã¢â€š ¬Ã‚ ¢ Owing to monopoly power, long-run equilibrium brings a higher price and lower output than perfect competition. à ¢Ã¢â€š ¬Ã‚ ¢ Owing to downward sloping demand curve, the firms demand curve will never be tangent to the bottom of the LRAC curve, implying that it will not produce at the least-cost point. Therefore, product differentiation in monopolistic competition creates excess capacity (i.e. creates inefficiency). à ¢Ã¢â€š ¬Ã‚ ¢ Less scope for economies of scale as share among many sellers. à ¢Ã¢â€š ¬Ã‚ ¢ Lack of economic profits in the long run for research and development. 2.5 Advantages Monopolistic competition has the following advantages: à ¢Ã¢â€š ¬Ã‚ ¢ Demand curve is highly elastic due to the large number of substitutes. à ¢Ã¢â€š ¬Ã‚ ¢ Diversity of products is available. (However, it has been argued that the cost of diversity is excess capacity which is a type of inefficiency.) à ¢Ã¢â€š ¬Ã‚ ¢ Greater freedom of entry when compared with monopoly. à ¢Ã¢â€š ¬Ã‚ ¢ Absence of economic profits in the long run helps to keep prices down for consumers. 3. Oligopoly Definition An oligopoly occurs when only a few firms share a large proportion of the industry. 3.1 Characteristics à ¢Ã¢â€š ¬Ã‚ ¢ Few number of sellers Competition among a few, e.g. two to 20. à ¢Ã¢â€š ¬Ã‚ ¢ Products may be identical or differentiated à ¢Ã¢â€š ¬Ã‚ ¢ Barriers to entry Entry may be relatively difficult or impossible (e.g. petroleum). à ¢Ã¢â€š ¬Ã‚ ¢ Interdependence of firms Oligopolists react to the pricing policy of rivals. The outcome is that there is no single generally accepted theory of oligopoly. Firms may react differently and unpredictably. A firms policy will depend on how it thinks its competitors will react to its move and the consequence depends on how its competitors really react. 3.2 Collusion And Competition The interdependence of firms in an oligopoly drives firms into one of the following two incompatible policies: à ¢Ã¢â€š ¬Ã‚ ¢ Collusive oligopoly: Oligopolists have formal or tacit agreement to limit competition among themselves to reduce uncertainty. For example, they may set output quotas, fix prices and limit product promotion. The typical collusive oligopoly is a cartel price leadership. à ¢Ã¢â€š ¬Ã‚ ¢ Non-collusive oligopoly: There is no formal agreement among oligopolists. Firms compete for bigger shares of industry profits. 3.3 Collusive Oligopoly A typical collusive oligopoly has these features: à ¢Ã¢â€š ¬Ã‚ ¢ Cartel Firms acts like a monopoly to maximise industry profits. (a) Cartel by non-price competition: Market price is set by joint profit maximisation and each firm observes that price. However, they compete for customers in the form of non-price competition. (b) Cartel by quotas: Another way is to set the price by joint profit maximisation. Each firm observes that price, but each firm will take its share or quota of the total quantity demanded at the controlled price. Thus, both cases require adherence to the price-setting by joint profit-maximisation among oligopolists. The only difference is whether the quantity demanded at the controlled price is competed among the firms in the form of non-price competition or is divided among themselves in the form of quotas. à ¢Ã¢â€š ¬Ã‚ ¢ Price leadership The demand curve of price leader represents the market share of the leader. The leader first maximises its profits at the point where leaders MC = MR. The corresponding price of leaders demand curve becomes the market price which every other firm has to follow. The leader supplies at its equilibrium quantity and the followers supply the rest representing the difference between market demand and leaders supply. 3.4 Kinked Demand Curve Model There are many theories to explain different kinds of phenomena in oligopoly. One such theory, the kinked demand curve, is put forward by Paul M. Sweezy to explain the price rigidity or sticky price in an oligopoly industry. Assumptions: à ¢Ã¢â€š ¬Ã‚ ¢ If a firm raises its price, others will not follow. Thus, the demand curve will be more elastic in this range. à ¢Ã¢â€š ¬Ã‚ ¢ If a firm cuts its price, so will the other firms. The demand curve in this range will be less elastic. These assumptions result in the kinked demand curve. In Figure 7, because the demand curve has kinked, the MR has broken as is illustrated by the gap between a and b on the graph. And the output and price would be the same even though the MC rises due to the same level by the equality of MR and MC. Thus, the price will be sticky when the cost increases within a certain range. Figure 7 The kinked demand curve 3.5 Shortcomings An oligopoly has the following disadvantages: à ¢Ã¢â€š ¬Ã‚ ¢ Shares all the same disadvantages of monopoly, as discussed earlier in this chapter. à ¢Ã¢â€š ¬Ã‚ ¢ Less scope for economies of scale than monopoly. à ¢Ã¢â€š ¬Ã‚ ¢ More extensive advertising than monopoly, e.g. non-price competition. 3.6 Advantages An oligopoly has the following advantages: à ¢Ã¢â€š ¬Ã‚ ¢ Economic profits: returns for research and development. à ¢Ã¢â€š ¬Ã‚ ¢ Incentive for innovation: for capturing larger market share. à ¢Ã¢â€š ¬Ã‚ ¢ Greater choice: non-price competition through product differentiation. 4. FACTOR MARKET For the production of goods and services, a firm has to acquire factors of production. The markets for factors of production are similar to those of the product market, as they can be categorised into perfect or imperfect markets. The demand for a factor of production is dependent upon the demand of goods that use the factor. Hence, the demand for factors of production is a derived demand. Definition Derived demand is demand for a productive resource that results from the demand for the goods and services produced by the resource. Figure 8 Illustration of the factor and product markets Factor payment is the income for the owner of the factor of production for use of the factor over a period of time. The factor income for labour, land, capital and entrepreneurship are wages, rent, interest and normal profit respectively. In a perfectly competitive factor market, the factor payment is determined by the forces of demand and supply. Figure 9 Demand and supply in the factor market 5. MARGINAL PRODUCTIVITY THEORY This theory explains that the demand for a factor depends on the marginal revenue product (MRP) of the factor. Definition Marginal revenue product (MRP) is the additional sales revenue resulting from employing an additional worker. Marginal product (MP) is the extra output produced by the additional worker. The MP curve is downward sloping because of the law of diminishing returns. MRP = MP (factor) x MR (goods) The MRP curve is downward sloping from left to right. It is identical in shape to the MP curve because MR (i.e. price of a good) is constant under perfect competition in the product market. Figure 10 Marginal product for labour and marginal revenue product 6. DEMAND FOR A FACTOR Marginal cost (MC) is the extra cost of employing an additional unit of factor of production. In a perfectly competitive factor market, a firms MC graph for a factor is horizontal because the firm is facing a perfectly elastic supply of the factor. Therefore, MC = Price of the factor (i.e. MC of labour = Wages) 6.1 Profit Maximisation The firm maximises profits when: Marginal cost of hiring an extra unit of labour = Marginal revenue from the labours output to the firm In equilibrium, MC (labour) / Wages (factor price) = MRP Hence, the firms demand curve for labour is identical to its MRP curve. Figure 11 Demand for labour The market demand curve for labour is the sum of quantities of labour demanded by all firms at each wage rate. Chapter Review à ¢Ã¢â€š ¬Ã‚ ¢ A monopoly is a price-searcher who is a seller with sufficient market power to set his price by adjusting supply. à ¢Ã¢â€š ¬Ã‚ ¢ The monopoly maximises its profit by producing the level of output to MR = MC. à ¢Ã¢â€š ¬Ã‚ ¢ A monopoly restricts output in order to push price above the marginal cost. Such allocative inefficiency leads to a loss in social welfare. à ¢Ã¢â€š ¬Ã‚ ¢ Because of product differentiation, a firm in monopolistic competition can raise its price without losing all its customers. à ¢Ã¢â€š ¬Ã‚ ¢ The firm in monopolistic competition has excess capacity as it does not produce at the optimum level of output where the LRAC is the lowest. à ¢Ã¢â€š ¬Ã‚ ¢ Due to the interdependence of firms, oligopolists react to the pricing policy of their rivals. à ¢Ã¢â€š ¬Ã‚ ¢ The kinked demand curve explains that the price will be sticky when the cost increases within a certain range. à ¢Ã¢â€š ¬Ã‚ ¢ A firm will maximise profits when the marginal cost of hiring an extra unit of labour = the marginal revenue from the labours output to the firm What You Need To Know à ¢Ã¢â€š ¬Ã‚ ¢ Monopoly: A firm producing a commodity for which there is no close substitute. à ¢Ã¢â€š ¬Ã‚ ¢ Deadweight loss: Loss to society that cannot be recovered. à ¢Ã¢â€š ¬Ã‚ ¢ Single-price monopoly: Monopoly that charges the same price for every unit of output it sells. à ¢Ã¢â€š ¬Ã‚ ¢ Monopolistic competition: This market structure consists of features of perfect competition and monopoly. à ¢Ã¢â€š ¬Ã‚ ¢ Differentiation: Products are made slightly different from others by brand, packaging, sales location and services. à ¢Ã¢â€š ¬Ã‚ ¢ Oligopoly: Only a few firms share a large proportion of the industry. à ¢Ã¢â€š ¬Ã‚ ¢ Derived demand: Demand for a productive resource that results from the demand for the goods and services produced by the resource. Work Them Out 1. Which of the following is NOT a characteristic of a monopoly? A The monopolist faces an inelastic demand for its product B There is only one seller in the market C Barriers of entry exist D The monopolist can influence the price 2. Which of the following statements is NOT true? A As an oligopolist responds to competitors actions, it can be considered a perfectly competitive firm. B Products in an oligopoly may be differentiated. C A cartel is like a monopolist with power to maximise industry profit. D Oligopoly is a market structure favourable to collusion. 3. The characteristic of a monopoly is A its large scale of production B the existence of barriers to entry C the huge initial investment D the necessity for a large market 4. A natural monopoly exists when A a franchise is granted to a firm B economies of scale are necessary C a firm can prevent the entry of competitors D a firm specialises in natural resources extraction 5. The monopolist can make economic profits because A entry is prevented B it charges a high product price C it has low promotion costs D it has a large market share 6. Economic profits earned by a monopolist are most likely due to A barriers of entry B an unexpected rise in the price of its product C good luck D the rate of return allowed by the government 7. Which of the following is NOT a feature of oligopoly? A Only a few firms dominate the industry. B There are no barriers to entry into the industry. C The product may be either homogeneous or differentiated. D Firms in an oligopoly face downward-sloping demand curves. 8. Which of the following is NOT a characteristic of monopolistic competition? A A single price exists for similar goods. B Only normal profit exists in the long run. C Products are differentiated. D Excess capacity exists in the long run. 9. Which of the following statements is NOT true? A There are numerous sellers in perfect competition. B Products are differentiated in monopolistic competition. C Firms in perfect competition maximise profits. D Information is perfect in monopolistic competition. 10. What is the likely market structure of coffee shops in Hong Kong? A Monopoly B Oligopoly C Monopolistic competition D Perfect competition SHORT QUESTIONS What factor(s) enable(s) a monopoly to earn economic profits in the long run? Why do perfectly competitive firms maximise their profits by producing so that their marginal cost equals the price, but monopolists maximise their profits by setting a price that is greater than marginal costs? What are the characteristics of a market that allows a monopolist to successfully price discriminate between groups? Explain how a firm in an oligopoly can differentiate its product. ESSAY QUESTIONS 1. Peters Toy Factory, a single-price monopoly, has the following demand schedule and total cost for luxury toys: Quantity (Toys) Price ($/Toy) Total Cost ($) 0 10 1 1 8 3 2 6 7 3 4 13 4 2 21 5 0 31 Calculate Peters total revenue schedule. Calculate Peters marginal revenue schedule. Calculate Peters profit-maximising levels of : (i) output (ii) price (iii) marginal cost (iv) marginal revenue (v) profit 2. Mr Ma started a recycling business in Hong Kong this month. He employs students to sort and collect bottles, paying 10 cents for each bottle collected. The students can sort the following number of bottles in an hour. Number Of Students Number Of Bottles 1 200 2 450 3 750 4 1,150 5 1,450 6 1,700 7 1,900 8 2,050 9 2,150 (a) Why does the students marginal product decline? (b) If all other firms pay the students $25 an hour to collect bottles, how many students will Mr Ma hire? If the fee for each collected bottle rises to 12.5 cents and the students wages increases to $37.50 an hour, (c) Calculate and show the changes to the students marginal revenue product in a table. (d) How many students will Mr Ma hire?