Price Makers and Price Takers - 952 Words

Market Structure o Perfect (pure) competition Price–taking firms each with no influence over the ruling market price (see diagram below) Free entry and exist of businesses in the long run – drives down profits towards a normal profit equilibrium level Each supplier produces homogeneous products – each a perfect substitute – hence the perfectly elastic demand curve for the individual supplier Key factor - interdependent nature of pricing decisions between rival firms Each firm must consider strategic behaviour of other â€Å"players† in the market Objective might be protecting market share or increasing market share Game theory can help to model different types of behaviour (both price and non- price competition) Kinked demand curve†¦show more content†¦When demand is strong and rising (e.g. during the upturn phase of the economic cycle), a business will have more â€Å"pricing power† than when demand is much weaker and falling (e.g. during a recession). Often a market may be affected by a demand-side â€Å"shock† which takes away the pricing power of suppliers. The airline industry in the wake of the terrorist attacks in 2001 could be considered as an example of this. Summary of the main factors affecting a firm’s pricing power Category Costs Competitors Influence on Pricing Policy In order to make a profit, a business should ensure that its products are priced above their average cost. In the short-term, it may be acceptable to price below AC if this price exceeds marginal cost – so that the sale still produces a positive contribution to fixed costs. If the business is a monopolist, then it has price-setting power. At the other extreme, if a firm operates under conditions of perfect competition, it has no choice and must accept the market price. The reality is usually somewhere in between. In such cases the chosen price needs to be considered relative to those of close competitors and with one eye to the likely reaction of rival firms when a business changes its pricing strategy.Show MoreRelatedWalmart, The Giant Utopia, By Sam Walton Essay981 Words   |  4 Pages Walmart, the giant utopia, the place where a lot of people usually do their shopping for the low prices and the variety of products was founded by Sam Walton. Walton was an entrepreneur a very different and innovative vision than with what was the norm at the time. He started his own company and made it into the leader in discount retailing that it is today. In fact, Walmart is considered to be the biggest company in the U.S. and it has stores worldwide. A lot of controversy orbits this huge companyRead MoreManagerial Economics Chapter 9 Essay1641 Words   |  7 Pagesmarkets, prices are determined by The interaction of market demand and supply because firms and consumers are price takers. Price taker Buyer or seller that is unable to affect the market price. A buyer or seller that takes the market price as given When are firms likely to be price takers? A firm is likely to be a price taker when†¦.. it sells a product that is exactly the same as every other firm. It represents a small fraction of the total market. Consumers are usually price takers when theyRead MoreThe Various Shades Of Monopolies And Perfect Competition1003 Words   |  5 Pagescontrol the prices for its goods or services, or in other words, they represent the market. They indeed have detrimental effects on consumer and social welfare, which is why most do not agree with them. This paper is an attempt to address the various points of monopolies in a society of competition. Keywords: Monopoly, Perfect Competition, Price maker, Barriers â€Æ' The Various Shades of Monopolies and Perfect Competition The perfectly competitive firm is considered the price taker, whereas theRead MorePerfect Competition1463 Words   |  6 Pagespower  to set the price of a homogeneous product. Because the conditions for perfect competition are strict, there are few if any perfectly competitive markets. Still, buyers and sellers in some  auction-type markets, say for  commodities  or some financial assets, may approximate the concept. Perfect competition serves as a benchmark against which to measure real-life and  imperfectly competitive  markets. Generally, a perfectly competitive market exists when every participant is a price taker, and no participantRead MorePure Monopoly in a Competitive World Essay996 Words   |  4 PagesIn the business world, the perfectly competitive firm is considered the price taker, whereas the monopolistic firm is the price maker, meaning they have control over the price. Pure monopoly does exist in today’s business world; we all have had the opportunity to have personal dealings with such companies. This assignment will discuss the various degrees of â€Å"monopolies† and attempt to provide accurate examples, allowing me to share my understanding of the competitive business market. In a competitiveRead MoreMarket Structures and Competitive Strategies1193 Words   |  5 PagesMarket Structures and Competitive Strategies ECO/365 Market Structures and Competitive Strategies Introduction There are many other soft drink makers but Coca Cola has been renowned to be one of the world’s top best soft drink makers and is among the best brands ever for a lot of years. It has the gain of a marketplace leader spot in drinks dealing with Pepsi in the subsequent spot. Coca cola functions in an oligopoly marketplace foundation where there are just scarcely any market playersRead More1.0 INTRODUCTION 1.1 COMPANY BACKGROUND The 1.2 INTRODUCTION TO ASSIGNMENT The 1.3 COMPANY600 Words   |  3 Pagescontrol of the price that it sets out in the market which makes the company the price maker. As a monopoly, it charges its customers based on what the company thinks are a reasonable price. Even though the government tends to ensure that prices are at a reasonable price, the company still makes the final decision as to how much to charge for the services it provide. This explains the reason why TM is said to be in control of the pricing system as competitors do not affect its decision on price. 3.3 COMPETITIONRead MoreLegal Laws Of The U. S. Drug Patent Laws864 Words   |  4 Pagestotally different types of competition. A flawlessly competitive market has several different representatives selling the exact same products. These representatives are considered to be price takers in reference to the competition. Price takers are firms that have no market power. They simply have to take the market price as given (Lumen, 2017). A monopoly starts when a single company sells a product that cannot be reproduced. Microsoft is a perfect example of a company that is seen as a monopoly dueRead MoreExplicit Costs and Implicit Costs Concepts1545 Words   |  7 Pagesequilibrium price of the market or the total quantity supplied in the market. Thus, a firm operating in a competitive market has no incentive to supply at a price lower than market equilibrium price, as it can sell all it wants to supply at equilibrium. At the same time, the firm cannot sell at price higher than the mar ket price, because it will not be able to find buyers at that price. Because of the limited scope of economies of scale available to the firm, it is called a price taker. If a firmRead MoreExplicit Costs And Implicit Costs Concepts1564 Words   |  7 Pagesequilibrium price of the market or the total quantity supplied in the market. Thus, a firm operating in a competitive market has no incentive to supply at a price lower than market equilibrium price, as it can sell all it wants to supply at equilibrium. At the same time, the firm cannot sell at price higher than the market price, because it will not be able to find buyers at that price. Because of the limited scope of economies of scale available to the firm, it is called a price taker. If a firm

Analysis Of The Hay Wain By John Constable - 751 Words

The piece by John Constable, caught my attention with its complexity and darkness. The artwork appears to have been painted with oil due to the ability to capture the colors, although they are not rich. When painting with oil, the artist can show off interesting brush strokes and create beautiful softness. The horse carriage in the river brought a sense of wonder upon viewing the piece. What happened, why are they in the river? The home alongside of the water, and the dog along the shore made me curious as well. There is evidently history in this piece and a story to tell. A2. Aspect of Interest The aspect that grabbed my interest the most is the horse and carriage in the water. The title of the piece, â€Å"The Hay Wain†, is obviously†¦show more content†¦Prior to the 19th century, most of the world’s economies had been largely based on agriculture. Farming was a laborious enterprise, and resulted in the vast majority of people to reside in the rural communities. The economy shifted, and industrialization basically remade every aspect of society. During the industrial revolution, new efficiencies caused people to migrate to the cities, otherwise they were faced with unemployment. Those that relocated, experienced urban culture, leisure and middle-class status. The transition was horrific for the poor - miserable housing, unclean water, and minimal heal care. According to some art historians, Constable was responding to shifts. As the cities grew, those who had become rich from the industrial boom, began to look to the countryside as a dream, a plac e where the water and air was pure, a place of one’s childhood. Constable’s art was intended for the wealthy urban elite, permitting them to escape the evils of modern urban life through his landscapes. B4. Relevance of the Work Constable’s â€Å"The Hay Wain† provides the modern world with the same escape though art as it did during its originality. He paints an image of fresh air, billowy clouds, shapely trees and humble times. In the current period, we are so drawn to the screen, failing in finding the beauty of nature. It isn’t necessarily true that artwork has lost its place, it is that the

Unequal Charges for International Students - MyAssignmenthelp.com

Question: Discuss about theUnequal Charges for International Students. Answer: Critique of the Global Issue One of the Global issues where shared responsibility for common good is not being realized is Unequal Charges for international students in Australia, undoubtedly is an serious issue, Australia is very expensive for the International students for education purposes, because the international students are paying are higher amount as compared to the national students. This is not fair, students in the same universities should be charged the same amount of tuition fees (Jiang 2014). For international students it becomes a burden to manage the high fees, they have a high person maintenance as well because they are staying away from their home. The annual fees for International students for bachelors degree is AU$ 15,000, US$ 11,750 to AU$ 33,000, US $ 25,800. For masters degree AU$ 20,000 to $37,000 for doctoral degree it costs from AU$ 14,000 to AU $37,000, the students visas in Australia costs up to AU $535 (Day Nakata and Martin 2015). It has been observed that the International students studying in Australia pay upto 400 percent more than the Australian students, that is a huge gap in the fee structure of Australian students and International students. The reason according to Peter Osburne has nothing to do with the taxes rather it is an issue of national privilege, which is very biased decision and very unfair for the international students, the students from all around the globe pursue their education in Australia because Australia is ranked fifth in the world when it comes to global education. (Chapman and Ryan 2005). It is the responsibility of the authorities of the Institutions to make sure that those international who seek to pursue studies in Australia, should be treated equally, they should be not made to feel that they are outsiders. This can create differences among the students which will not good for the institutions to maintain harmony in the institutions. Ways to Address the Challenge Students from all around the world want to pursue higher education from Australia, students from some of the developing countries like Asia and students ftrom African countries might find the expenses and the fee structure too high to be maintained if they choose to study in the Australian Universities. Education strives to give equal opportunities to all the students, fee structure should be a hindrance to the students education, two students pursuing the same course should not be made to pay different charges. It stops some of brilliant and talented students from pursuing education in Australia. Whereas, those already studying find it difficult to manage their their expenses and hence forced to opt for employment while studying. It does not allow the students to concentrate properly on their studies, which could affect their results. What needs to be done here is that the government should intervene in the unfair treatment of International students, they should pass a law that clearly instructs the institutions to regulate a fair fee structure that does not differentiate between the Australian students and International students, since it is not legally wrong, but ethically it is very wrong. Government Intervention might help resolve the grievances of the International students who are paying a higher tuition fees. The Institutions should also consider that the international students already have their personal expenses, on summing up their all expenses that is a huge liability on the students. It is the duty of the institutions to lighten up their burden. Another thing that the Institutions can do is provide some concessions for the students so that they it can lighten up the financial burden on students (Kaiser et al. 2014). The authorities should also offer more scholarships to the international students who a re exceptionally good in the studies (Gale and Parker 2013). Government should make policies that would help the students who are not able to pay such high tuition fees. The countries from where the students belong, their home countries should help the students by offering student loans to those who are planning to study abroad. Financial barrier should not hinder the students education, they have equal rights to pursue education wherever they want to, without being discriminated (Marklein 2015). The most important thing that should be done is a strict order should be passed on the Institutions which make the education system a business, changes needs to be made for the in the laws that would restrict the Institutions from implementing two different types of fee structure in the same university (Meuleman et al 2014). The Colleges should provide accommodation facilities for the international students, this could help the students by reducing the expenses on accommodation. Cheap Hostel facilities for the International students within the college premises could help to a great extent in reducing their food and accommodation costs (Marginson 2015). Those students who desire to work while pursuing should also be given an opportunity to get an employment in the institutions, provided their studies should not be hampered. The government should also revise the student visa charges, so that it is not too much for the students to pay. It is the shared responsibility of the Government of the Australia and the authorities of the Universities, to think for the common good of all the students, irrespective of their nationality that aspire to study in Australian universities. If they open doors for international students, they should avoid discriminating the students based on their nationality. They should consider that once the students take admission in their institutions they become the part of the institution so they should not be treated differently. All institutions have the rule of treating the students equally, maintaining two types of fee structure is nothing but discrimination. Moreover Educational Institutions should not be treated as business, if it is has objective of providing education to students irrespective of the nationality. They should make sure that international students get equal opportunities for studies and education, just like the Australian students. A uniform fee structure should be formulated and implemented by the authorities of the Universities, the gap in the fee structure creates a huge gap among the national students and international students. For every institution maintaining a cultural diversity is very important, that can only be done if the fee structure is not biased and beneficial for Australian students where as a burden to the International students (Harmon 2015). But none of it can be done without the Government implementing effective regulations in this regard, the Australian students should also realize that this discriminating fee structure is very unfair for International students, they have other expenses as well as they are staying away from their country and they stay on student visa. They should come forward and stand for the international students so that the authorities take this matter very seriously. Raising voice against this serious issue, in a very peaceful manner perhaps will draw the attention of the authorities and the Government bodies. The different NGOs working for the cause of education should also come and stand for the international students, so that they can create pressure on the management of various Institutions to stop this practice. Which very discouraging for the International Students, moreover it would one day make Australia less preferred as the destination for pursuing education if the students choose to study in Universities of other countries and not Australia (Gale and Parker 2013). References Chapman, B. and Ryan, C., 2005. The access implications of income-contingent charges for higher education: lessons from Australia.Economics of Education Review,24(5), pp.491-512. Day, A., Nakata, V., Nakata, M. and Martin, G., 2015. Indigenous students' persistence in higher education in Australia: contextualising models of change from psychology to understand and aid students' practices at a cultural interface.Higher Education Research Development,34(3), pp.501-512. Gale, T. and Parker, S., 2013. Widening participation in Australia in higher education. Harmon, G., 2015. Australia as an higher education exporter.International Higher Education, (42). Hazelkorn, E., 2015.Rankings and the reshaping of higher education: The battle for world-class excellence. Springer. Jiang, K., 2014. International student flows between Asia, Australia, and Russia: a network analysis.Journal of Contemporary Eastern Asia,13(1), pp.83-98. Kaiser, F., Maassen, P., Meek, L., van Vught, F., de Weert, E. and Goedegebuure, L. eds., 2014.Higher education policy: An international comparative perspective. Elsevier. Marginson, S., 2015. International education in Australia: The roller coaster.International Higher Education, (68), pp.11-13. Marklein, M.B., 2015. Legal Implications of International Students.Journal of Mason Graduate Research,2(1), pp.13-29. Meuleman, A.M., Garrett, R., Wrench, A. and King, S., 2015. Some people might say I'm thriving but: non-traditional students' experiences of university.International Journal of Inclusive Education,19(5), pp.503-517.

Soldiers Letter free essay sample

Dear Maggie, Its inevitable that this must be hard on you, considering you dont support my decision to Join the war, but Ill have you know that this dreadful place has me missing you all that much more. The fact that you are trying to understand, while being a French Canadian, really shows what an Inspirational women you truly are. My passionate tie to Brutal persuaded me to Join the war, and there was no way I could pass up the opportunity to show my appreciation for our mother country.Training camp in Vale Carrier was nothing I was prepared for. The British had high expectations or us Canadian Soldiers, expectations that we werent able to live up to while entering the training camp. None of us had much training or experience, this forced Britain to crack the whip and become very strict. Our training was very unusual and unexpected; we seemed to do a lot of aerobic-like exercises that took all of us by surprise. We will write a custom essay sample on Soldiers Letter or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page We have Just conquered Vim Ridge. This is the first battle that we have been able to act together.It Is truly a defining moment for our country, we are finally able to rise from the shadows of Britain and realize the greatness we are capable of achieving. We were given a new Canadian Corps meander named Sir William Bang; he has done a miraculous Job helping us capture this difficult position by carefully planning and rehearsing the attack. Although there was nearly ten thousand men killed and wounded, it was worth is to capture the land where there is no such thing as a surprise attack. There is no way to describe to you what its like here.I wake up from nightmares relieved that its over, until I finally realize that reality is much worse. There is no feeling insurmountable to those Vive faced. The only thing keeping me going is the thought of home. Youd expect the battle field to be where the real horror is, UT there is nothing comparable to the conditions in the trenches. The ground and walls are filled with mud which makes maneuvering a very difficult task. Whenever the trenches begin to collapse, they are filled with the bodies of fallen soldiers to help stable the walls. Can you imagine that, using the dead bodies of your fellow soldiers as support to climb up trench walls? That Is Just the beginning, not only Is there dead bodies, and the smell of blood constant in the trenches, but the walls also carry various diseases and are clustered with rats. Sleep is almost non-existent, the hooting of machine guns never stops and the war continues day in and day out. Good food is rare, we are often fed canned beef, and hard biscuits that you had to let soak in water. I miss the warmth of our home, and the taste of your home cooked meals.I miss sleeping in my own bed, and my safe and stable job, but most of all, I miss you. This war is nothing like the government perceived it to be. I expected appreciation from the British, and especially from the government back home, but thats the last thing we were treated with. These unselfish, brave men are facing death, and a proper burial Isnt even available to them. The memories from this war will never leave me, and the nightmares will be forever unavoidable. This war will have an everlasting negative effect on my life, and it is nowhere near the end.When Im not in battle, I cant isnt a second that goes by, that I dont regret Joining this war. I always consider the idea that I might benefit from speaking to one of the other soldiers, but then I remember that each man faces a balance of disappoint of their own. I will forever regret my decision of leaving the both of you to spend my time here, but as long as I know I have you to come home to, I will never give quitting a thought. The new technology introduced into the war has made victories much more difficult. The Germans introduced this new invention called Chlorine Gas during the Second Battle of Hypes either suffocating, choking, blinding, burning, or killing their enemies. The only way to avoid these gas attacks are to hold a towel covered in urine over your face. Large automobile type machines called tanks were also invented by the British during the Battle of Some. Also airplanes were introduced, first used only for scouting and targeting enemies, but later on used to drop bombs. Technological advances have increased the death and injury rates by thousands.I cant imagine what it must be like for everyone back home, there isnt one person who hasnt made a sacrifice, or devoted countless amounts of time and money to provide for us fighting overseas. I cant even begin to express my appreciation for everyones hard work taking over our Jobs in the factories, while managing to maintain everything at home. Bring up our daughter to be Just like you, that way we are assured a successful child. Let her know Im one of many who were prepared to do their duty at all costs, and having to pay the great sacrifice while my heart aches or the both of you, Just makes this Journey so much more difficult.I love you, Forever and Always, -or Lilly: So live your life that the fear of death can never enter your heart. Trouble no one about their religion; respect others in their view, and Demand that they respect yours. Love your life, perfect your life, Beautify all things in your life. Seek to make your life long and Its purpose in the service of your people. Prepare a noble death song for the day when you go over the great divide. Always give a word or a sign of salute when meeting or passing a friend, Even a stranger, when in a lonely place. Show respect to all people and Bow to none.

Winning vs. Fair Play Are they incompatible Essay Example Essay Example

Winning vs. Fair Play: Are they incompatible? Essay Example Paper Winning vs. Fair Play: Are they incompatible Essay Introduction The personality traits of the â€Å"winner† are embedded within each and every American. It is a nation that survived and thrived against heavy odds. That legacy shapes many of the attitudes we have today about winning and losing. The importance of winning has permeated our culture from the business world to professional sports to local youth soccer leagues. The drive to win is necessary both for our survival and for our continued pursuit of excellence. Excellence, in turn, benefits society as a whole. This is why the drive to win has an important role in our society. A worthy goal for society is to create an atmosphere where the drive to win not only co-exists with fair play and sportsmanship but also works in tandem with them. The reality is that one does not negate the other. Winning and fair play/sportsmanship can actually enhance each other. In that sort of environment we all win. Winning Winning vs. Fair Play: Are they incompatible? Essay Body Paragraphs According to Peck â€Å"It is wrong to regard any other human being as, a priori, as an object or an it† (1993). The early European colonists who came to America recognized this. Eventually, the concept of individual rights was codified into the Constitution. Even though each individual settler was driven to get their â€Å"piece of the pie†, they understood that cooperation would also always be necessary. At the same time there is a reality that each individual must face. Engh writes that â€Å"Winning is what we all must do throughout life to succeed.† (2002). Fair play and consideration for others can’t always be accommodated in the reality of everyday life. Sports are a metaphor for life. The importance placed on winning is just a reflection of society as a whole. Those who win consistently in sports, career and life reap the lion’s share of society’s rewards. Since these rewards are not infinite in supply; there will always be stiff comp etition over them. That is the way society is designed. As a nation that design has served us well. Even though most people, if asked, would see sportsmanship, fair play and ethics as good qualities; our society sends mixed messages. Individualistic, selfish behavior is often rewarded. Athletes and businessmen who cut corners to make it to the top are often portrayed as heroes. Sometimes sportsmanship can actually endanger all those involved. If an athlete in the heat of competition is distracted by thoughts of sportsmanship, injuries can result. As one young athlete put it â€Å"The football field is no place to think about ethics† (Canadian Centres Teaching Peace, 2008). Ethics come in the rule making process for the game. The game is meant to be won or lost. Vince Lombardi, the successful Green Bay Packers coach of the 1960s once said that â€Å"Winning isn’t every thing. It’s the only thing†. His phrase not only motivated the Packers to excellence; it also inspired the American culture. The statement tapped into a feeling that lay deep in the American psyche. Fair Play and Sportsmanship Winning is not a bad thing. Too often, it has been portrayed this way. It does not have to be synonymous with greed or the wiliness to indulge in unethical behavior to win. Winning has an important role in continuing a societal pursuit of excellence. Without this pursuit the culture would become stagnant and ultimately die. It is true that that the preset rules of the game, whatever it may be, do much to govern the activity and encourage fair play. There is a higher value to winning than just the superficial, though. Engh writes that â€Å"The very values we can learn through organized sports – things such as ethics, fair play and sportsmanship – are the lessons that will guide us to be the best we can in life† (2002). Winning unethically or without respect for the opponent in sports can lead to a downward process for the win ner. The harm to the â€Å"losers† in this scenario is obvious. The harm to the â€Å"winner† may be just as great in the long run. Delany states that: When someone decides to justify certain behavior in an attempt to gain an edge over an opponent, they are likely to engage in other deviant action. (2003) Fair play and sportsmanship have important societal roles to play. These traits are just as ingrained in human beings as the drive to win. An example of this can be seen in a recent well-publicized incident at a women’s college softball game. Having hit what appeared to be a game-winning home run; a player was injured and unable to make her way around the bases. If her teammates helped her in any way the run would be disallowed. Instead two players from the opposing team carried her around the bases, allowing her to touch each as they went by. The public reaction to this incident of pure sportsmanship is telling. The young women were honored repeatedly and appe ared on national talk shows. Could it be that sportsmanship and fair play are themselves forms of winning? A Meeting of the Minds Winning without honor can only bring a shallow happiness. It also invites others to treat the â€Å"winner† in the same way. Many of the human rewards that come along with winning are lost when the winning is done by cheating. The winner may obtain the rewards of winning but without the true fulfillment winning a fair and sportsmanlike competition brings. Sports can be a good arena for nurturing qualities of future success in children. At the same time, it can be taken too far. Winning is important because it is both a process of self motivation and of cooperation. Sports teach a structure that we all need to know in order to succeed in later life. Learning how to win is a process, as is learning how to lose and how to be sportsmanlike. For kids, the pressure of a win-at-all-costs mentality often does not create the desired result. Focused, success ful individuals are the exception to the rule. Often this pressure is a distraction rather than an encouragement to focus. Parents who see other parents encouraging a â€Å"win at all costs attitude† often feel pressured to do the same with their kids. The result is often not what they had hoped for. In fact, â€Å"The likelihood is that the experience will turn a lot of these kids off to organized sports participation† (Engh, 2002). In sports and in life there is teamwork all along the way. Individual winning never comes without the support and assistance of a host of others including parents, friends, co-workers, teammates and even opponents. All of these individuals learn from each other in some way. When the competition in question is fair and characterized by sportsmanship, the winner actually enhances his chances of winning again. Winning unethically short-cuts the learning process. In that sense the non-sportsmanlike or unethical winner is only hurting himself. These behaviors also expose the winner to similar behavior directed his way. The only difference is that this time society will fully legitimize the behavior because the winner brought it upon himself. The Packers of Vince Lombardi were universally respected winners. They were a team of individuals, each striving to perform his task to the best of his ability. As a team they played fairly and with good sportsmanship – and each man reaped the rewards. Finding a balance between â€Å"winning is the only thing† and fair play and sportsmanship is a worthy goal for society. All of the skills involved in finding this balance are necessary for ultimate success in life. Conclusion In many ways sport is â€Å"a microcosm of society† (Delaney, 2003). As such it reveals the problems as well as the promise of society. It reflects the ideals we find important as a culture. Winning is good. There is more than one way to win. Winning is also a continual process, not just any o ne game or event. Yes, our society rewards and glorifies individual achievement, even when the achievement was gained by ethically questionable means. The picture is more complicated. People who win at all costs often pay a heavy price. Most of us will never be in the position of those we see portrayed as winners on television and in the media. Therefore it is easy to ignore the consequences these people face for unethical behavior. They range from criminal involvement to depression to the lack of trusted friends and family. For some, this will be a fair tradeoff for winning in the superficial sense. Most of us need a wider definition of winning. Competition of any kind will never be fully ethical and completely sportsmanlike. It is the effort to be this way that counts. This distinguishes the true winner from the superficial one. Ultimately our society is a large team of many individuals. It is dependent both on the individual pursuit of success and a certain level of teamwork. The practice of sportsmanship does not harm the pursuit of either element. Instead, it enhances both. Shortly before his death the legendary coach Lombardi said â€Å"I wish I had never said damned [winning is the only thing] thing. I meant the effort.having a goal. [not] for people to crush human values and morality (Reinharz Anderson, 2000). Sources Business Week. (2006). â€Å"Yes, Winning is Still the Only Thing†. Retrieved 5/14/2008 from:http://www.businessweek.com/magazine/content/06_34/b3998403.htm?chan=top+news_top+news . nbsp; Canadian Centres Teaching Peace. (2008). â€Å"Sports: When Winning is the Only Thing can Violence be Far Away?† Retrieved 5/14/2008 from: =http://www.peace.ca/sports.htm data-wpel-link=external rel=nofollow>http://www.peace.ca/sports.htm . nbsp; Delany, Tim. (2003). â€Å"Sports and Deviant Behavior†. Philosophy Now. Retrieved 5/14/2008 from: http://www.philosophynow.org/issue41/41delany.htm . nbsp; Engh, Fred. (2002). Why Johnny Hates Sports. Garden City Park, N.Y.: Square One Publishing. nbsp; Peck, M. Scott. (1993). A World Waiting to be Born: Rediscovering Civility. New York: Bantam Books. nbsp; Reinharz, Peter; Anderson, Brian. (2000). â€Å"Bring Back Sportsmanship†. City Journal (NY). Spr, pp. 1-6. We will write a custom essay sample on Winning vs. Fair Play: Are they incompatible? Essay Example specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Winning vs. Fair Play: Are they incompatible? Essay Example specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Winning vs. Fair Play: Are they incompatible? Essay Example specifically for you FOR ONLY $16.38 $13.9/page Hire Writer

Use of Performance Appraisals as a Reward System

Use of Performance Appraisals as a Reward System Performance appraisal has been described as the process whereby the relative worth of an employee in a particular company is evaluated. It involves measurement of an employee’s work behaviors, comparing them to already established standards and communicating the results back to the employee. Performance appraisals were instituted as a means of income justification i.e. they were used to decide if an employee deserved to be paid a given wage amount (Lawrie, 1990).Advertising We will write a custom essay sample on Use of Performance Appraisals as a Reward System specifically for you for only $16.05 $11/page Learn More This application of performance appraisals has continued until now but many arguments have been raised on its usage particularly as a means to justify pay increases or cuts. Personally, I believe performance appraisals to be an integral part of an organization operation and that its advantages outweigh any disadvantages perceived. In the p ast, performance appraisals were only used as a remuneration tool whereby it was assumed that a rise or a cut in pay was the only motivation employees needed to improve their work. This view however changed after numerous researches proved that the traditional system often failed since salary levels was not the only element that determined employee performance (Locher Teel, 1977). The modern performance appraisal system is aimed at identifying an employee’s strengths and weaknesses as well as determining ways of improvement and subsequent skills development. The performance appraisals are also used to determine reward outcomes whereby bonuses, promotions and pay increases are allocated to employees who are judged to have performed above a given level. The main purpose of a given company is to generate profits and thus employee management is a very important aspect. One of the most important features involved in employee management is the performance appraisal system. When co rrectly used, it serves as a tool for identifying and fixing problems facing the employees. Non-productive members in the organization can also be identified and appropriate measures taken either through training or dismissal. Performance appraisals should inherently be associated with reward outcomes. It is essential for organizations to distribute rewards in an open and fair manner whereby those most deserving in regards to merit and results are identified and justly rewarded. The performance appraisal system is the only process available that can be applied to achieve a rewarding system that is fair and consistent. Apart from this performance appraisal also offer other advantages when used as a pay-increase system. Employees generally expect to be rewarded when they perform better and tend to distrust the management if they feel someone who is less deserving has received a reward (Lawrie, 1990). This can be easily solved using a performance-based pay increase system. Secondly, th is system allows for financial planning.Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Time and time again, companies face financial difficulties and thus it is very hard to distribute what little is available among the workers. With a performance appraisal system geared on pay increase, the company can isolate those individuals who really deserve an increase from the rest. However, many critics have pointed out that this system is flawed without any way to perfect it (Derven, 1990). Many have pointed out that this system damages trust between managers and employees in the workplace thus undermining harmony in the workplace. The performance appraisal system is usually done by the managers who are given the task of being the judge and the jury. The employee in this case becomes the defendant trying to defend their performance levels to a work mate. If negative feedback is provide d an employee becomes disgruntled and the communication system between the employees and the management team begins to suffer (Heathfield, 2009). Another argument against the use of the system for pay increases or cuts is that it limits an employee from performing at his/her personal best. Once an employee receives a feedback that he does not believe to be fair, he becomes defensive and his work begins to suffer as he believes the manager is against him and that there is no need for him to apply himself (Derven, 1990). In conclusion, a performance appraisal system that is used to determine pay increase has its flaws but is indispensable to any particular organization. Since no alternative way to fairly judge who merits a pay increase and who does not, this system cannot be neglected. If a well structured appraisal system does not exist in a company, people will informally and arbitrary judge each other’s work performance creating more problems in the organization. Reference L ist Derven, M.G. (1990). The paradox of performance appraisals Personnel Journal, 69(4), 107-111. Heathfield, S.M. (2009). Performance Appraisals Don`t Work. Retrieved from https://www.thebalancecareers.com/performance-appraisals-dont-work-1918846 Lawrie, J. (1990). Prepare for a performance appraisal. Personnel Journal, 69(2), 132-136.Advertising We will write a custom essay sample on Use of Performance Appraisals as a Reward System specifically for you for only $16.05 $11/page Learn More Locher, A.H., Teel, K.S. (1977). Performance appraisal a survey of current practices, Personnel Journal, 56(5), 245-257

Informative Speech-Marriage customs Essay Example | Topics and Well Written Essays - 500 words

Informative Speech-Marriage customs - Essay Example Each of the culture has unique dress code, cuisine line, ceremonies in their respective weddings all poles apart from each other. For example: Asian brides usually wear red on their wedding day while, European wear long white gowns (Gokulsing and Dissanayake, 2009). Though there are many traditions in many cultures but by performing this ritual there’s only one goal and one intention which is to unite two souls, two hearts and two individuals into one (Smith, 2003). The topic of my speech is arrange marriage customs in India and the steps needed for it. India is rich and vast when it comes about their culture and their weddings are considered as the most colorful weddings of Asia (Smith, 2003). Arranged marriages are those marriages in which both the family of about to be bride and groom sit together and plan the wedding. Usually the partner of either the girl or the boy is chosen by the parents, communal elders or by matchmakers. In arrange marriages a lot of things are considered like religion, ethical values, class, education, background and a lot more things which at least should be of exact match or should be equal (Srinivasan, 1997). In India it is supported that a parent will never consider something bad for the child. Parents are one of those people who are present at every stage of your life as a guide. As marriage is an important decision of one’s life so how parents at such stage can make wrong decision or suggestion (Visweswaran, 2011). Arrange marriages also involve choices, it’s wrongly said that it does not. Usually nothing happens with the affirmative signal of the bride and the groom (Viharini, 2010). The first step thus is to select a life partner, which is usually done by the parents or elders (Stephen, 2010). Although not everyone demands dowry, still usually it’s quite difficult for the family of the bride to search an adequate life partner for her and to send her off with enough