Managing Revenue and Working Capital to Avoid Factoring in Health Orga Essay - 1

Managing Revenue and Working Capital to Avoid Factoring in Health Organization - Essay Example Another risk is that when debtors default in paying their invoices on the stipulated date the hospital risks paying more interest to the factoring company which was not budgeted for. Lack of proper management of working capital and revenue inflow might lead to the business getting to a situation of insolvency. Creditors to the health organization might be claiming from the organization more than the assets of the organization which might lead to bankruptcy. This might tatter the image of the organization and lead to poor performance of the credit rating of the hospital. Banks and other financial organization will refuse to extend any loan to the hospital in future date which might cripple the organization when a need for capital arises in future dates. When the health organization gets into this situation it will lack the liquid capital to grow, pay suppliers or meet unexpected costs within the health unit. Some of the measures that the finance officer has to take into consideration to avoid such situations are: The health organization will need to balance between acquisition of assets and payment of its recurrent expenditure like salaries and wages. The moderate form of working capital policy would suit the health center to avoid situations of the need of having to look for short-term debts to pay for its current and long-term assets. This policy will do away with risks that come with the aggressive policy of working capital where short-term debts will be needed to finance fixed or permanent working capital. The fluctuating working capital will be financed through short-term borrowing. This situation will eliminate a situation of financing all the working capital needs from short-term loans which may lead to factoring within the health unit (Nowicki, 2011). The health organization might be expanding or buying long-term assets like medical equipment.  Buying of these assets will lead to huge cash outflows which will affect the availability of cash to meet other expenditures.

Secretary of State for Defence Essay Example | Topics and Well Written Essays - 1000 words

Secretary of State for Defence - Essay Example But the following are particularly his responsibilities: operations; personnel; policy (together with nuclear questions and European defence, oversight of main acquisition questions as well as defence industrial problems; media and communications; finance and effectiveness)1 (Lachman, Camm, & Resetar, 2001, p.27). Thus, the responsibility for soldier's deaths lies not only on Ms Molly Malone, in any case she shares it with the subordinate ministers (despite even the secretary's advice). Then if resigning, Ms Molly Malone should remind Opposition that she's not the only one responsible for the situation and, by the way, it is Opposition who has to control ministers' actions and to underline any kind of disadvantages before the action takes place and not after it. But it's necessary to understand that this report is not going to defend indefensible behaviour. In our country, we have standards to keep up, and they will be kept up for sure. I'd like to speak about balance and fairness towards our soldiers. Our purpose is, of course, to explain. ... The soldiering has met some important and unparalleled changes recently. I know for sure that the changes have made soldiers' life more difficult. Moreover, I'm sure we all need to understand it urgently. I'd like to show what these changes are. First, our context is understanding about what our armed forces do. You remember I think that the last conscript appeared the British armed forces forty-five years ago. But even since then our public have an instantly looser grasp of what it is to be a soldier in the new security environment we have today (Marcum, Weinstein, Hosek, & Thie, 2001, p. 89). Just 45 years ago people had a personal experience in the armed forces (almost all men had at least a direct experience of soldier life through national service). Today our Armed Forces possess the power and respect to assist in overcoming this lack of first hand experience. You know they are held in high regard and they have the chance to show to civilians the differences and advances to people's lives that the soldiers has performed. And this is the situation in which we all have a part, in assisting to overcome the gap which divides military and civilian people. It would be enough to say here that it creates the context which makes it more complex to realize the changes which are taking place in the military struggles and how they impacts our soldiers (Asch, 2001, p. 17). One of these changes is in the enemy we have. Our enemies in the 1st and 2nd World Wars wore the other uniform, but we were able usually to understand their aims and conduct. Our enemy then fought and had structure the way we did. But today's most dangerous, global enemy, (the enemy we face in our situation with soldier's deaths) the terrorist, does not. Thus, UK soldiers have risked

A company operating

A company operating A multinational sometimes known as transnational, is a company operating out of its origin country which involves one or more countries. Multinational corporations growth in alliances, joint ventures and mergers and acquisitions, but this will cause consumers to recognize the brand, rather the parent company. Shell, Caltex, ExxonMobil, Nokia, McDonalds, Toyota, Nestle, Sony, Microsoft corporations are a few example of multinational corporations. It is important as many large corporations tend to increase sales and gain brand recognition at the same time providing jobs opportunities as in the case study of James Dyson and Waterford Wedgwood. International marketing is the multinational process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, and services to create exchanges that satisfy individual and organizational objectives[1]. Today, many multinational corporations are surviving and competing against their competitors brand to achieve higher market profits. The companies apply strategic measures to expand their business as well as improving management in order to increase profit income. The basis of a company running its business is to have a good human resource management, quality control on product or services, maintaining loyal customers and at the same time boosting sales and implementing marketing strategy in their founding region country. For examples the most popular product in the United States are Microsoft Corporation, Apple, and McDonald, where they gain most of their profits from its own founding country. However, if the same company runs the same system they use in their founding country, it might not be successful if they were to expand their business market onto the international market. This is because different countries have different culture, religion, tradition, mind set, environment and lifestyle and it plays a vital factor that caused the marketing plans to fail if international marketing mix concepts are not brought into consideration. CEO of Coca-Cola, Mr Daft mentioned, it was that the next big evolutionary step of going global now has to be going local. Most worrying for the global brand-owners, consumers in the newly opened markets started expressing a desire for local products, protection for its local sovereignty and cultural identities[2]. In order for an organization or business to achieve a successful rate in widening their product services internationally, the management team needs to apply the international marketing mix in planning and strategies marketing conce pt that cater for international market consumers. In this assignment the multinational company that Ill examine its international marketing mix operation will be Kentucky Fried Chicken as Ill investigate and study the strategies of its international marketing mix of the companys success. Kentucky Fried Chicken, or famously known as KFC is a very well known fast-food chain restaurant having thousands of franchises throughout the world, serving its famous Colonel Harland Sanders trademark chicken, in both Original Recipe and Extra Tasty Crispy varieties, along with chicken sandwiches, chicken pot pies, crispy chicken strips, mashed potatoes and gravy, and potato wedges. KFC Corp. is wholly owned by Yum! Brands, Inc., which also operates the Pizza Hut, Taco Bell, Long John Silvers, and AW restaurant chains. The headquarters is located in Kentucky, where the brand originated and half of the profits made by this company is through international marketing and sales or via franchising. The two marketing approach which adapted by KFC in their marketing campaign which I will elaborate more, are standardized, and adaptation marketing approach. In standardized method, it described as a common market program, where a company uses a standard, fixed marketing plan to run its business in their founding country. One can notice that all the outlets are very identical and the management is really concern on the standard operating procedure (SOP), to ensure highest standard quality of food and services being offered to the customer. Take Shiseido, a beauty brand as example, where there are employing standardized method, where all their products marketing are the same all over the international market in terms of the product, price, promotion and placement of the product. Same goes to Coca-cola, Pepsi, and Marlboro where standardization strategies are used. Consumer can purchase the same Vanilla Coke, Coke Light and the red tab Coke is sold all around the globe. However, adaptation strategies is total opposite of standardized where it recommends for product and marketing modification for a certain international market in order to suit the needs of the foreign market in terms of cultural, environment, product knowledge et cetera in order bring success to its marketing plan and to help boost its sales. Therefore by analyzing Kentucky Fried Chicken international adaptation marketing strategies with Malaysia, which are managed by QSR Brands Berhad[3], there are significant differences of marketing strategies used compare to common standardization marketing uses in their founding country. We can notice the difference by comparing the both countries 4Ps of marketing mix. I shall start with the first marketing mix, which is product. Product Product marketing is the first element that deals with the specifications of the goods or services and how it is related to satisfaction of the customers. Products are usually developed to meet up the wishes of the customers. It is sorted according to the five characteristics, quality, features, styling, brand name, and packaging. [4] Based on the KFC product marketing plans in the US markets, their products are packed using their brand symbolic color of red and white together with the image of Colonel Sanders which is the core of the companys advertising and branding strategies. It uses standardized approach method to market their product, and also to neighboring countries of Canada, New Zealand and some part of Europe. Other than fried chicken, many KFC restaurants serve side dishes like coleslaw, potato wedges, french fries and mashed potatoes. But for their international product to Malaysia, it used the same brand name, image, packaging, and preserving its quality of the fried chicken as it is the companys Unit Selling Proposition. Also, its finger lickin good famous catchy slogan are maintained too. However, there are adaptations done to its products feature and styling of products such as Extra Tasty Crispy in the US, are being replaced by naming it Hot Spicy in Malaysia, but both products are similar just the features name is different. The culture of Malaysia and the US are different that is why certain products of name are different in one and other. The title Hot and spicy is more suitable in Malaysia rather than Extra Tasty Crispy because of the word spicy as it brings the meaning of hot,. KFC Malaysias new product, the X meal Hotrods with smoking hot sauce is somehow similar to Malaysian favorite traditional food Satay. Same goes to local product of Nasi Lemak Enak where Malaysians can find it in one of the KFC a.m meal, not to mention as well the Colonel Chicken Rice Combo, which are Malaysian local food it is because Malaysian more like to eat rice than American who like to eat mashed potatoes. As majority of Malaysia consume rice as their main carbohydrate source in their daily diet. KFC seems to acknowledge the important of rice in their serving, and therefore offering rice and chicken porridge as an alternate adds-on in their menu. KFC also provide Milo as a drink of breakfast due to Malaysian use to drink Milo as their hot chocolate drink. KFC in Malaysia also provide Thirst Quenchers with a fun float of scoops of ice-cream with any carbonated drink in these hot seasons in Malaysia. Desserts are ice-cream because of the hot weather of Asia, Malaysian prefer ice-cream rather than parfait in the US to feel cool. Another distinctive product differences are KFC in the US sells pork ribs in their market but its different in Malaysia whereby this is a Muslim country and the restaurant need to follow regulations for Halal food certification in order to attract Muslim customer. Pork and beef are not permitted and other products are needed to be replaced with alternatives favorites. Apart from the certificate for operational premises, internal controls over raw materials procurement, manufacturing, packaging, storage, transportation and utensils need to be controlled as well. KFC need to understand the cultures and religions of Malaysia where Halal food is food that complies with Islamic Law stipulates that food consumed to be hygienic, not harmful to health, free from any forbidden parts of animal origin, free from anything regarded as filth under Islamic law. In addition, meat products must be derived from animals that are permissible and slaughtered according to Islamic Law for example pork which are forbidden for Muslims. This is because they need to fulfill the requirement of international marketing mix of Malaysias custom, tradition, religion and other factors that need to be concern and also the consumer demographics and psychographics of Malaysians. Despite Malaysians customs and culture traditions, KFCs marketing in Malaysia is gaining its ground with unequivocal success by implementing the international marketing mix. Price For Price marketing, it refers to the process of setting a price to the product. Price is the only element in the marketing mix that brings revenue to the firm. Pricing strategies are linked with factors of standard of living, population size, age profile, and purchasing pattern of its consumer market. It also deals with ones country economy status. The prices of all of the items offered by KFC Malaysia are reasonable and suitable with the target market segments. Pricing of KFC chicken is Strength for KFC in the SWOT analysis as the meals are comparably cheaper than its competitor of Popeyes and AW. Figure below tells that KFC snack plate are more value for money comparing with AW set. KFC also introduce JomJimat, which attracts consumers to save more for individual set. Not to forget the affordable yet convenient way of having breakfast, this is called KFC a.m meal that offers local foods. Family feast of mini bucket combo and variety bucket also comes with discounted price. By having suitable pricing and campaign will help ease the burden of consumer financially as they make KFC their choices when it comes to eating quality yet delicious fried chicken Place Place refers to where and how the product gets to the customers. Two basic issues involved in getting the products are channel management and logistics management. Most of the KFC restaurants around the world are in commercial areas. In the US, it can also be found operating as free-standing units and kiosks in high-traffic crowded areas. Such methods can capture both the consumer market of family and friends gatherings area, and also the busy working class, so that they could grab a bite of KFC anytime, anywhere. Nontraditional service, often stemming from successful innovations instituted in the companys international operations, was seen as a way for KFC to enter new markets. Delivery, drive-through, carryout, and supermarket kiosks were up and running. Other outlets in testing were mall and office-building snack shops, mobile trailer units, satellite units, and self-contained kiosks designed for universities, stadiums, airports, and amusement parks. However in Malaysia, KFC placed its restaurants in most commercial shopping malls, and also in every township. This will be easy for KFC as shoppers roaming around for the purpose of shopping can actually be expected to step in and make a purchase. KFC Malaysia builds a strong affinity with a new generation of young customers by rolling out various strategies such as collaborating with the national zoo of having the restaurant to be placed in its compound. Im sure every school children are excited to have KFC during their visit to the Zoo. Oh how it reminds me back of my childhood days eating KFC in zoo with its Chicky Mascot. Besides that, by offering 24-hour restaurant service to its consumer, it will surely satisfy the late hungers of KFC fans. Drive through are also another way of providing fast serving of food to rushing busy Malaysians who without the need of getting down from their vehicle to make orders. With over 350 KFC outlets situated in Malaysia, It is by far the most popular restaurant chain in the Malaysia Promotion Promotion refers to the various methods of promoting the product. The four promotional tools available to the marketing managers are advertising, sales promotion, publicity, and personal selling. At KFC, Promotion is the main tool to bring all chicken lovers attention towards its delicious one-of-a-kind. Advertising KFCs advertisements can be seen throughout local media in Malaysia via billboard and banners in public transportations of LRT and bus, including major highway. Leaflets and page spreads can be seen advertised in newspaper, magazine, commercials can be seen and heard in radios and television as well as the internet. KFC aired their Variety Bucket commercials during dinner time in ASTRO Wah Loi Toi, to attract its target consumer of Chinese adult family where they spend time watching Chinese drama. For its KFC Hot Rods, its commercial can mostly be seen in 8tv and ntv7 channel where its younger targeted consumer watched youth programs. And for those consumer who browse internet searching for KFC information. KFC also provide website to visit. KFC Malaysia also stimulates repeat purchases of its products Using Reminder advertisements. The company anthem finger linkin good is a wakeup call to the consumer to remind them how good they felt the last time they ate KFC chicken The website of KFC Malaysia tends to have more multimedia graphical elements comparing with the dull yet boring US website. By using video, animation, colors and images, it will draws consumers attention towards the product and stay on longer in browsing the website and this will make a good marketing approach towards Malaysians. KFC uses the theme good things come together with KFC as their promotion campaign which focus on family ties, friendships, and togetherness and at the same time, also focusing unity of 3 races of Malaysia which works well with the 1Malaysia unity concept. KFC uses family sentimental approach in targeting their target market. This is because family value comes first for most Asians. Totally different from US, where its advertisement are focusing on low fat and healthy diet campaign, 0 Gram Transfat nutrition. Another commercial for the fish burger in Malaysia TV channels, where it shows two Malay boys eating fish burger and it attracts many cats to surrounding them both. By applying and understanding Malaysian Malay culture where first, Malays are only fond to cats and not other animals especially dogs, and at the same time, showing that cats loves fish and the smell of the burger able to tempts the cats. Sales Promotion KFC Malaysia offers its customers with various forms of incentives to buy its Chicken. Using coupons that are inserted in local newspaper print ads, customers can enjoy the benefits of discounted price or free add-ons, which the customer must cut and bring along, serves as a pull factor to attract consumer to dine in its restaurant. Publicity As KFC it grew in popularity, KFC turned to the psychological appeal wherein customers also contributed to the various community services via their purchases. Widely adopted by renowned global brands, this unique marketing approach termed cause-related involves donation of a certain percentage of the purchase price to a specific charity project focusing on corporate social responsibility. This was how KFC Care Fund [5]was introduced, this being one of the most memorable corporate social responsibility projects initiated to help underprivileged children from 68 homes throughout Malaysia. PR effectively conveyed the feel good factor to customers that a certain percentage of their KFC Kids Meal purchases were being pooled for these charitable causes. All the more giving they became in helping out a good cause. As globalization has creates a unique yet sophisticated demanding consumer market, creative measures must be implemented in order to reach its target market. KFC need to foresee and follow with the pace of consumers purchasing and eating behavior in constantly changing its marketing strategies. For example setting up small stalls or express kiosk in major busy streets of Kuala Lumpur would be a good approach to meet consumers demand. Another suggestion, KFC Malaysia only provides drive thru placement in certain busy areas, but still a lot of branches in Malaysia dont have drive thru benefits to their customers. KFC must take action about this matter so that can keep more loyal customer even in their busy time they still willing to drive thru to buy KFC rather than McDonalds. Other than that, KFC Malaysia didnt provide delivery services to consumers home or office. They really need to take this as serious way to improve their sales and branding. Product wise, KFC may applies diffusion of innovations strategies and come out with special sets for vegetarian as well as introduce more chicken flavor other than Original Recipe and Hot Spicy. This can attract difference types of market segmentation consumer and with new product introductions it will keep pace with its competitors and gain market standings.KFC can also promote healthy eating campaign that targets the healthy conscious consumers to curb the perception of fast food equivalent to bad health and obesity. These would be the changes I would like to see in the future marketing mix of KFC Malaysia. In conclusion, international marketing mix strategies played an important factor in the role of multinational corporation dealings its business via the international level as local needs of a certain country needed to be accountability for in order to drive the sales and demand for its product internationally. The combinations of 4ps marketing mix are an essential tool to breakthrough the consumer market and serves their needs and at the same time, maintaining and respecting their cultural traditional heritage. KFC has certainly reached its goal in the marketing plan, by creating standardized and adapted products that suits all market segmentation in all its international franchises and become a successful brand and position KFC as a multinational fast-food company. F. Robert Dwyer and John F. Tanner, 2006 Business Marketing. 3rd ed, international, McGraw-Hill Stuart wall and Bronwen rees. 2004 International Business. 2nd ed Essex, Pearson Education limited pg.30 http://www.qsrbrands.com/English/NonFlashSite/BusinessUnits/BizU_Poultry_Integration.asp Stuart wall and Bronwen rees. 2004 International Business. 2nd ed Essex, Pearson Education limited http://www.qsrbrands.com/English/NonFlashSite/Communities/TabungPenyayang.asp

Ghana: The Gold Coast of Africa Essay -- Geography

Ghana: The Gold Coast of Africa The Gold Coast, now known as Ghana, is one of many civilizations of Africa. It was a British Colony until March 6, 1957, when it became independent as the State of Ghana. In 1471, the Portuguese invaded this area and became involved in gold trade, giving the region the name, The Gold Coast. They built forts to protect their monopoly of gold trade from merchants representing other nations. In 1642, the Dutch West India Company captured all Portuguese strong posts and they devoted their interests in slave trading rather than gold trading. In the Seventeenth and Eighteenth Centuries, the Gold Coast was one of the chief West African sources of slave export. At the beginning of the Nineteenth Century the countries involved in slave trading began abolishing it as illegal and immoral. The British abolished it in 1807, the Danish is 1804 and the Dutch in 1814. In 1821, British forts were transferred from private ownership to government control. The Gold Coast became a British colony and the new government was known...

‘Of Mice and Men’ is a famous novel written by John Steinbeck Essay

‘Of Mice and Men’ is a famous novel written by John Steinbeck; Steinbeck was born in 1902 in Salinas Valley, California and he set ‘Of Mice and Men’ during the Great Depression. He based the storyline on his personal experiences and ventures. The novel was later adapted into a motion picture starring John Malkovich and Gary Sinise. This essay will examine various aspects of the film; the films treatment of the story, characterisation, camera work, symbolism, special effects and the use of music. The film does not follow the book exactly as several scenes from the novel have been edited to add climax and tension. For example some important aspects of the book have been changed. The first change is George and Lennie going into the boss’ house to meet him instead of the boss meeting them in the bunkhouse; George doesn’t scold Lennie for talking in front of the boss when he strictly told not to say a word; George is introduced to Slim over dinner but in the book they first meet in the bunkhouse; George comes into Crooks’ room to get Lennie while in the book Candy joins Lennie and Crooks and they all discuss the dream, then even Crooks starts to believe in the dream and asks if he can be part of it. Some scenes from the book are not included at all, for example Curley’s wife doesn’t threaten Crooks in the film whereas in the book she threatens to frame Crooks for rape purely out of spite because the men reject her company. The hallucinations that Lennie has of Aunt Clara and the rabbit telling him how bad he has been in the last chapter of the novel are not portrayed in the film and when Slim and the other men console George after he has killed Lennie is not shown in the film either. Although some scenes have been cut from the original storyline others scenes have been added to the film. For example the opening of the film which shows the girl running in the red dress and the men chasing George and Lennie (this is only hinted at in the book); the train scene where George and Lennie jump on the train escaping to Salinas Valley and grabbing their work tickets in town; the work scenes which show the power of Lennie’s strength; Curley’s wife talking to George alone in the barn; Curley practicing his boxing skills on his punching bag and George and Lennie speaking to Curley’s wife after they have just left Crooks’ room. This treatment of the story shows us that not all scenes in a novel makes a good or interesting scene in a film so a novel can not just be filmed as it is, it often needs changing to make it a film the audience wants to watch. In film the director usually tries to bring a romantic element into the film to keep the audience guessing, will the couple get together or not? For example, there is an underlying sexual tension between George and Curley’s wife in a couple of scenes. The characterisation is fairly faithful to the way they are described in the book. The way Lennie is portrayed is as a large, tall man with the strength of a giant. He is shown to be innocent like a child but as strong as an ox. The actor playing Lennie, John Malkovich matches Lennie’s description in the book, â€Å"A huge man, shapeless of face, with large, pale eyes, with wide, sloping shoulders†. Gary Sinise also fits George’s physical description, â€Å"Small and quick, dark of face, with restless eyes and sharp, strong features†. He is shown to be the brains and Lennie the brawn. He is like the responsible father of Lennie, always taking care of him and trying to keep him out of trouble e.g. the scene where George gets Lennie out of Weed because he got into serious trouble for touching a woman’s red dress. Candy, the swamper, is faithful to his description in the book, â€Å"A tall, stoop-shouldered old man† and so is his character. Curley, the Boss’ son is described as, â€Å"A thin young man with a brown face, with brown eyes and a head of tightly curled hair† (hence the name) but the actor in the film has straight hair. However some characters differ from the way they are described in the book. In the book Slim, the jerk line skinner, is described as â€Å"Prince of the ranch†Ã¢â‚¬ ¦he moved with a majesty only achieved by royalty and master craftsmen† and he has a lot of authority and respect among all the ranch men in fact, â€Å"His authority was so great his word was taken on any subject, be it politics or love†. In the film his authority and respect doesn’t come across as much as it does in the book. The actor playing Slim didn’t look the way the reader would have imagined him, â€Å"His long, black, damp hair straight back. His hatchet face was ageless. His hands, large and lean, were as delicate in their action as those of a temple dancer†. Curley’s wife is physically the same as how she is described in the book. However, the audience has more sympathy for her in the film than in the book because she doesn’t threaten Crooks in the same vindictive, spiteful way. Her vulnerability is also highlighted when she is seen breaking down in tears after Curley has broken her records. In addition Crooks, the stable buck, (his nickname is derived from his crooked spine) is much more bent over then the audience would have expected. He is crueller than in the book e.g. he enjoys tormenting Lennie about George possibly not returning ever again therefore is seen to be quite malicious. The camera work is very cleverly done and emphasises certain aspects of the story very well e.g. the close up of Lennie crushing Curley’s hand and the close up of Lennie breaking Curley’s wife’s neck, make the scenes more dramatic. The lighting affects the mood of the story like the semi-darkness in the barn when Lennie kills the puppy and the bunkhouse when Carlson takes Candy’s old dog to be shot display a sombre mood. The golden glow of the men playing horseshoes outdoors displays a happy and optimistic mood. There are also several interesting special effects used in the film to intensify the drama. For example the fight between Curley and Lennie is exciting to watch as you see the blood dripping from Curley’s crushed hand, the killing of Curley’s wife as she panics and he breaks her neck and the shooting of Lennie when George shoots him in the back of the head. Most scenes in the film symbolise things for different characters for instance the dark side of the men’s lives when they are on the train and the light flickers symbolises an uncertain future ahead, violence could flare at any time. It could also symbolise a gloomy, depressing future. Scenes with a lot of light symbolise happier times, signs of hope or the men just enjoying life for a change. The ‘rabbits’ symbolise the dream and a symbol for Lennie of a better life. The ‘dead mouse’ symbolises death and a sense of foreboding (that something bad is about to happen). Music is a key element in any movie because it helps to build up tension e.g. the famous theme tune of ‘Jaws’ or the music used in ‘Physco’ as the person is being murdered the beat is set by every stab. Music also shows the mood and is there to accompany the action on screen e.g. when the men are chasing George and Lennie at the beginning of the film the music gets louder and louder. In contrast to this is the use of complete silence to set the mood e.g. when they are on the train and when they are hiding in the ditch. The silence can represent calm or tension. The music when they are discussing the ‘Dream’ is very relaxing and soothing, which again reflects the mood. Overall the novel is a tragedy because you feel sympathy for George because he had to kill his friend who had become like a brother to him. The film relays the novel, keeping along the lines of the story but is still a film worth watching even if the audience has not read the book. This is because the director has altered and added scenes to include tension, drama and climax. People who have read the book would be satisfied that the characters and storyline follow the book almost to every aspect.

Reasons for Free Trade Essay

Free trade can be defined as the situation whereby governments impose no artificial barriers to trade that restrict the free exchange of goods and services between countries with the aim of protecting domestic producers from foreign competitors. The argument for free trade is based on the economic concept of comparative advantage. Comparative advantage is the economic principle that nations should specialize in the areas of production in which they have the lowest opportunity cost and trade with other nations, so as to maximize both nations’ standards of living. FREE TRADE |Advantages |Disadvantages | |Free trade allows countries to obtain goods and services that the |An increase in short term unemployment may occur as some domestic | |cannot produce themselves, or in sufficient quantities to satisfy |businesses may find it hard to compete with imports. However, the short| |domestic demand. |term rise in unemployment should correct itself in the long term, as | | |the domestic economy redirects its resources to areas of production in | | |which it has a comparative advantage. | |Free trade allows countries to specialize in the production of the |Free trade can create barriers that make it more difficult for new | |goods and services in which they are most efficient. This leads to a |businesses and new industries to emerge as they are not protected from | |better allocation of resources and increased production within |larger foreign companies. | |countries, and throughout the world. | | |Free trade encourages the efficient allocation of resources. Resources |A process called ‘dumping’ may occur wherein production surpluses from | |will be used more efficiently because countries are producing the goods|some countries are sold at  unrealistically low prices on the domestic | |in which they have a comparative advantage. |market, pricing efficient domestic industries out of the market and | | |harming them. | |A greater tendency for specialization leads to economies of scale, |Free trade may produce negative externalities i.e. child labor. | |which will lower average costs of production and increase efficiency | | |and productivity even further. |Free trade may encourage environmentally irresponsible production | | |methods because some producers in some nations may produce goods at a | | |lowest cost due to weaker environmental protections and environmentally| | |damaging practices within that nation. | |International competitiveness will improve as domestic businesses face |Allocation of resources will tend to move to the more efficient and | |greater competitive pressures from foreign producers, and governments |competitive producers. | |will encourage domestic industrial efficiency. | | |Free trade encourages innovation and the spread of new technology and | | |production processes throughout the world. | | |The opening up of global markets leads to higher rates of economic | | |growth and increased real incomes. Hence, free trade leads to higher | | |living standards. This is a result of lower prices, increased | | |production of goods and services and increased consumer choice as | | |countries have access to goods that a lack of natural resources may | | |otherwise prevent. | | REASONS FOR PROTECTION Protection refers to government policies that give domestic producers an artificial advantage over foreign competitors. Infant Industries New industries generally face many difficulties and risks in their early years. They usually start out on a small scale, with costs that are proportionately and relatively higher than the more established films competing in the international arena due to economies of scale. Hence, it is argued that these ‘infant industries’ require protection in the short run to enable them to expand their scale and reduce their costs of production so that they may compete with the rest of the world. For this argument to be valid, protection should only be temporary, otherwise there would be no real incentive for industries to reach a certain level of efficiency so that they can compete viably without protection. Historically, industries that have received assistant as infant industries have continued to rely of this assistance for many years. The infant industries argument has been used as a pretext referring to industries that would never have survived otherwise, hence economists do not generally accept the infant industry argument as an argument in favor of protection. When governments provide help to new industries now, this tends to involve direct assistance and lasts for a very limited time. Prevention of Dumping The process of dumping may be used to dispose of large production surpluses or to establish a market position in another country. These low prices are usually only of a temporary nature however they can harm domestic producers as they cannot compete, forcing them out of business, hence causing a loss in a country’s productive capacity and resulting in higher unemployment. The only gain from dumping is that consumers will benefit from lower prices in the short term, but is is only temporary as producers will put up their prices again once the local competition is eliminated. Under such circumstances, it is generally into economy’s best interest to impose restrictions on such imports. Using protectionist methods to prevent dumping is considered to be the only reason for protection that is widely accepted by economists. Despite this, in recent years the WTO has questioned whether countries might be abusing their entitlement to prevent dumping and falsely accusing efficient low-cost foreign producers of dumping as an excuse to give domestic producers an artificial advantage. Protection of Domestic Employment One of the most popular arguments in favor of protection is that it saves local jobs. If local producers are protected from competition with cheaper foreign imports, the demand for local goods will be greater – labour as a derived demand of the demand for goods and services, will be in higher demand, hence creating more domestic employment. Despite this, there is little support amongst economists for this argument. Protection tends to distort the allocation of resources in an economy away from more efficient production towards areas of less efficient production. In the long run, this is likely to lead to higher levels of unemployment and lower growth rates. On the other hand, by phasing out protection it is is hoped that better and more lasting jobs will be created in sectors that are more internationally competitive. Furthermore, if a country protects its industries, it is possible that other countries could retaliate and adopt similar protectionist policies. The net result could be that the economy would maintain employment in less efficient protected industries but lose employment in more efficient export industries. Defense and Self-Sufficiency Non-economic reasons Defense: so that they can be confident that in a time of war that they would still be able to produce defense equipment. Self-sufficiency of food supplies. Historical reasons†¦ When a country adopts this approach it must accept that it may gain self sufficiency at the expense of higher living standards that would be achieved from specialization and free trade. Other Trade unions often argue that producers should be protected from competition with countries that produce using low-cost labour. This is seen as a means to protect the better living standards of workers in high income economies. It is related to another argument that it is unethical to buy products from countries that may use unethical practices I.e. child slavery, because it would further encourage the exploitation of these people. Countries may sometimes block trade in goods because of environmental factors, such as the environmental harm involved in the production of certain goods. Overseas producers may be able to produce some items cheaply because the producers are environmentally irresponsible and do not have to comply with the tougher environmental standards that apply in advanced economies. Eg: 2011 Live Cattle Export Crisis Australian export restrictions of live cattle were imposed in 2011 because of the deemed unethical treatment that Indonesia treated the live cattle with. Offended by Australian criticisms of its animal welfare standards, Indonesia announced that it would reduce the number of import permits issued for Australian cattle by around 2/3rds, and buy more live cattle from other countries instead. METHODS OF PROTECTION A tariff is a government imposed tax on imports. It has the effect of raising the price of the imported goods, making the domestic producer more competitive domestically. Figure 2.2 reveals the following: The curves SS and DD represent domestic supply and demand. P is the price of imported goods if there was no tariff applied. At this price consumers demand Q1 domestic producers supply Q1 and the quantity imported would be QQ1 If a tariff of PP1 is imposed, all of which is passed to the consumer, demand will contract to Q3, domestic supply will expand to Q2, and imports will fall to Q2Q3 Following the imposition of the tariff the government will raise revenue of ABCD |Economic Effects of a Tariff | |Domestic producers supply a greater quantity of the good. Tree fore the tariff stimulates domestic production and employment | |More domestic resources are attracted to the protected industry. This leads to a reallocation of resources towards less efficient producers | |Consumers pay a higher price and receive fewer goods. This redistributes income away from consumers to domestic producers. | |Tariff raises government revenue | |Retaliation effect can be experienced. In that case any increased production and employment gains for the import-competing industries would be | |offset by losses in the nation’s export industries. | An import quota controls the volume of a good that is allowed to be imported over a given period of time. The quota guarantees domestic producers a share of the market. Figure 2.3 reveals the effect of an import quota: The curves SS and DD represent domestic supply and domestic demand P is the price at which the imported goods would sell if there was no quota imposed. At this price consumers demand Q1, domestic producers would supply Q, and the quantity imported would be QQ1 If the government imposed a quota restricting the imports to Q2Q3, this would have the effect of raising the price of imported goods to P1. This price would allow domestic supply to expand to Q2 |Economic Effects of a Quota | |Domestic producers supply a greater quota of the good. Therefore the quota stimulates domestic production and employment | |More resources in the economy are attracted to the protected industry. Therefore there will be a reallocation of resources from other sectors | |of the economy | |Consumers pay a higher price and receive fewer goods. This redistributes income away from consumers to domestic producers in the protected | |industry, and results in lower overall levels of economic growth. | |Quotas do not generate revenue, however govt can raise a small amount of revenue by administering the quota through selling import licenses | |allowing firms to import a limited number of goods | |As with tariffs, the imposition of a quota on imports can invite retaliation from the country whose exports may be reduced because of the | |quota. This can result in lower exports for the country that initiated the import quota. | Countries may also use tariff quotas. Goods imported up to the quota pay the standard tariff rate, whereas goods imported above the quota pay a higher rate. Subsidies involve financial assistance to domestic producers, which enables them to reduce their selling price and compete more easily with imported goods. In Figure 2.4 this is shown by a rightward shift of the domestic industry’s supply curve from SS to S1S1, which results in a lower market price P1. Businesses will be able to sell a higher quantity of their product on both domestic and global markets. The quantity produced increases from Q –> Q1 The size of the subsidy in per unit terms is the vertical distance between the S and the S1 curves |Economic Effects of a Subsidy | |Domestic producers supply a greater quantity of the good. Therefore, the subsidy stimulates domestic production and employment in the protected| |industry. | |More resources in that economy are attracted to the protected industry, leading to a reallocation of resources from other sectors of the | |economy where production and employment will fall. | |Consumers pay a lower price and receive more goods, however they pay indirectly whether they buy it or not through higher taxes. | |Subsidies impose direct costs on government budgets. This means that governments have fewer resources to allocate to other priorities | |i.e.education and health care | |While economists are generally opposed to protectionist policies, they often prefer a subsidy over a tariff because subsidies tend to be | |abolished more quickly since they impose costs on the budget, rather than generating revenue. | Local Content Rules specify that goods must contain a minimum percentage of locally made parts. The return is that the imported component does not attract a tariff. AUS used this to protect its motor vehicle industry in the past. Export Incentive Programs give domestic producers assistance such as: Grants Loans Technical advice (marketing, legal info) Encourage businesses to penetrate global markets or expand their market share The popularity of such programs has grown considerably in recent years as nations have moved to a greater focus on capturing foreign markets, rather  than protecting import-competing businesses, as a strategy to achieve higher rates of economic growth and employment. Technically, export incentives do not protect businesses from foreign competition in the domestic market, but they are nevertheless artificial barrier to free trade. |Overall Economic Effects of Protectionism ($$) | |In addition to the effects that protectionist policies have on domestic economies, they can also have overall impacts on the global economy. | |Global protectionist policies have the overall effect of reducing trade between nations. The WTO has cited research estimating that a | |far-reaching Doha agreement would remove protectionist policies that are currently costing the global economy between $US 180billion to $US | |520billion in exports every year. | |Overall, protectionist policies reduce living standards and reduce global economic growth by shielding inefficient producers. The Institute for| |International Economics in Washington DC has estimated that protectionism is reducing gross world product by between $US 300billion and $US | |700billion each year. | |Protectionist policies make it more difficult for individual economies to specialize in production in which they are most efficient. Businesses| |are less able to achieve economies of scale and therefore have lower profits and lower dividends. With less competitive pressures, prices for | |goods and services in individual economies are higher. | |The negative economic impact of the protectionist policies of trading blocs tends to be greatest for developing economies, which are excluded | |from access to the markets of advanced economies. | Doha agreement: an agreement that is aimed at achieving major reform of the  international trading system through the introduction of lower trade barriers and revised trade rules. A trading bloc occurs when a number of countries join together in a formal preferential trading arrangement to the exclusion of other countries. THE ESSAY Different countries have different factor endowments and intensities. Nations engage in international trade as a means of specializing in production, increasing the productivity of their resources and realizing a larger output and economies of scale than by pursuing self sufficiency or autarky. Free trade occurs when there is an absence of protective barriers such as tariffs, quotas, subsidies and voluntary export restraints, which tend to divert trade, rather than create trade or new trade flows. [economic independence or self sufficiency]. A reason for a country specializing in the production of goods in which it has a comparative advantage–the economic principle that states that even if one country can produce all goods more efficiently than another, trade will benefit both countries if each specializes in areas of production that have the lowest opportunity cost and trade with other nations–is that overall standards of living will be maximized for the nations in which trade is occurring between. Figure 1 shows this. Country X has an absolute advantage in the production of both computers and wheat. According to the principle of comparative advantage, Country X is more efficient in producing computers than Country Y since the opportunity cost of wheat production is 1 unit of wheat in Country X, compared to 2 units of wheat in Country Y. Hence Country X has a comparative advantage in computers. However, Country Y has the comparative advantage in wheat, with an opportunity cost of 0.5 computers per unit of wheat, while Country X has an opportunity cost of 1 computer. Through specialization, Country X can produce 100 computers and Country Y 80 units of wheat, or 90 computers and 10 units of wheat for an overall 90  computers and 90 units of wheat within the hypothetical economy, 20 more than the aggregated 70 computers and 90 units of wheat if each country was to produce with half their resources for one good and half on the other. Free trade has several other advantages: Free trade allows countries to obtain goods and services that they cannot produce themselves, or in sufficient quantities to meet domestic demand due to a lack of adequate resources. Free trade allows countries to specialize in the production of goods and services in which they have a comparative advantage. This leads to a better allocation of resources and increased production within countries, and throughout the world. Free trade encourages the efficient allocation of resources. Resources will be used more efficiently because they are being used in the production of goods in which they have a comparative advantage. Free trade leads to a greater tendency for specialization, which should result in economies of scale as seen in Figure 2 wherein average costs decrease with an increase in output. International competitiveness will generally improve due to free trade as domestic businesses face greater competitive pressures from foreign producers, and because of governments encouraging domestic industrial efficiency. Free trade encourages innovation and the spread of new technology and production processes throughout the world because of increased competition. Free trade typically leads to higher rates of economic growth and increased real incomes, leading to higher living standards; this is a result of low prices, increased production of goods and services and increased consumer choice. Although free trade has clear benefits in theoretical terms, it can lead to a number of disadvantages. The imposition of free trade tends to result in a short term increase in unemployment as some domestic producers may find it hard to compete with imports. However, this generally corrects itself in the long term as the domestic economy redirects its resources to areas of production in which it has a comparative advantage. Free trade may make it more difficult to establish new businesses and new industries if they are not protected from larger foreign competitors as new businesses and industries generally have higher costs in the starting phases because of a lack of scale, hence they would find it harder to compete. Free trade may result in ‘dumping’ wherein foreign countries may sell goods in the domestic market for unrealistically low prices to sell off their production surpluses or to establish a market position, hurting efficient domestic industries. Free trade may encourage environmentally or ethically irresponsible production processes because producers in some nations are able to produce goods at a lower cost due to weaker regulations or enforceability of these deemed irresponsible production practices. Alternatively to free trade is protection. Protection refers to any artificial advantage given by governments to domestic industries to protect them from international competition. Free trade relies upon the interplay of market forces to secure the benefits that derive from it[efficient resource allocation, higher living standards and greater competition from international specialization and exchange]. However, in reality, historically most countries have tended to impose at least some forms of protection to assist local producers in the face of foreign competition. This is primarily for these reasons: ‘Infant Industries’ arguably need temporary protection to expand their scale and reduce their costs of production so that they can compete viably in the global market as they usually start on a small scale with higher costs (see Figure 2). In theory this argument is plausible, however in practice, industries have tended to rely on this assistance for many years without a real incentive to reach a level of efficiency so that they are able to compete without protection. For this reason, governments tend to involve direct assistance when helping infant industries that lasts for a very limited time. Protection is used to prevent dumping that may harm domestic producers, potentially forcing them out of business and causing a loss in a country’s productive capacity and higher unemployment. Using protectionist methods to prevent dumping is considered to be the only reason for protection that is widely accepted by economists. Despite this, in recent years the WTO has questioned whether countries might be abusing their entitlement to prevent dumping as an excuse to give domestic producers an artificial advantage. One of the most popular arguments for protection is that it saves local jobs. This is on the premise that if domestic producers are protected from foreign competition, the demand for local goods will be greater and hence, labour as a derived demand of the demand for goods and services, will be demanded at a higher level. Despite this, protection tends to distort the allocation of resources in an economy away from efficient production towards area of less efficient production and in the long run, this is likely to lead to higher levels of unemployment and lower growth rates. Furthermore, other countries may retaliate with similar protectionist methods. Some arguments used to justify protection may not be solely based on economic grounds. For example, major powers generally want to retain their own defense industries so that they can be confident during times of war that they would still be able to produce defense equipment. Similarly, protection  may be used for self-sufficiency of food supplies – for example, Japan experienced famine twice in the 20th Century due to wartime blockades that prevented imports of food supplies. Trade unions in advanced economies often argue that producers should be protected from competition with countries that produce using low-cost labour. This is to protect the better living standards of workers in high income economies and to not endorse unethical practices that exploit people in less developed nations. Countries sometimes block trade of goods because of environmental factors, such as the environmental harm involved in the production of certain goods in some foreign nations. Environmental regulations across countries are not universal, hence protection is arguably better for the global environment overall. Main protectionist policies include: tariffs, quotas, subsidies, local content rules and export incentives. A tariff is a government-imposed tax on imports, making domestic producers relatively more competitive. [pic]

Should Frank Lloyd Wright Essays - Frank Lloyd Wright, Free Essays

Should Frank Lloyd Wright Essays - Frank Lloyd Wright, Free Essays Should Frank Lloyd Wright Natalie DeFrancesco Class 02 Frank Lloyd Wright 12/4/1999 Bibliography Frank Lloyd Wright was born on June 8th, 1867 in Wisconsin. His heritage was Welsh. His fathers name was William Carey Wright; his occupation was a musician and a preacher of his faith, Unitarian. His mothers name was Anna Lloyd Jones; her occupation was a schoolteacher. It was said that his mother placed pictures of great buildings on the walls of his nursery in order to train him to become an architect. He spent most of is life on his Uncles farm near Spring Green, Wisconsin. Frank briefly studied civil engineering at the University of Wisconsin in Madison. When Frank was twenty years old, he moved to Chicago. After he moved there, he got his first job in an Architectural Firm of J. Lyman Silsbee, he worked there for about a year. In 1887, he got a job as a draftsman for Adler and Sullivan; here he eventually became chief draftsman and residential design. Under Sullivan he began to develop his architectural ideas. In 1889 he married his first wife Catherine Tobin. After awhile of developing his own ideas he started to design bootlegged homes which meant that he was going against the firms policy of moonlighting. When the firm found out what Frank was doing, he was fired. These were the start of Wrights low, sheltering rooflines, the prominence of the central fireplace and destruction of the box open floor plans. In 1893, Wright started his own firm; he first worked out of the Schiller Building (designed by Adler and Sullivan). Then he moved into a studio which was built onto his home in Oak Park. Oak Park was an affluent suburb of Chicago, which was located to the west of centercity. From 1893 to 1901, about 49 building designed by Wright were built. This period was brought together by concepts of prairie house ideas. In 1909 he developed and refined his prairie style. He founded the Prairie School of architecture. His art of this early productive period in his life is also considered as part of the Arts and Crafts movement. The productive first phase ended in 1909. He left his wife and his five children to go to Germany. There, Mamah Borthwick Cheney, wife of a former client and his new lover, joined him. For two years, Wright and Cheney lived together at Taliesin, a home that Frank built at the site of his uncles farm near Spring Green, Wisconsin. This ended when a crazed servant murdered Cheney and six others and set fire to Taliesin, which most was destroyed. From 1914 to 1937 was a time of personal turmoil and change for Wright. During this time he rebuilt Taliesin (but it was almost lost due to a bank foreclosure), he divorced Catherine Tobin, married and separated from Miriam Noel (which spent in jail because of this), and met his 3rd wife, Olgivanna Milanoff (a Bosnian Serb who was a student of GI Gurdjieff). Designs of this period included the Imperial Hotel in Tokyo (a large complex that required much time in Japan to oversee it), and concrete California residences. Few commissions were completed toward the end of this period, but he did lecture and publish frequently, with books including An Autobiography in 1932. In 1932, the Taliesin fellowship was founded. Thirty apprentices who came to live and learn under Wright. His books served as an advertisement. It inspired many whom read it to seek him out. His out put became more organized and prolific with the help of the numerous apprentices who assisted in design detail and the site supervision. His most famous work Fallingwater was designed in 1863. Fellowship was expanded as Taliesin west was built in Arizona as a winter location for the school. Taliesin Association Architects, the Frank Lloyd Wright School of Architecture and the Frank Lloyd Wright Foundation are living legacies of what Wright founded in 1932. Few building were built during the war years. The GI Bill brought many new apprentices when the war ended. The post war period. To the end of Franks life was the most productive. He received two hundred and seventy house commissions. He designed and built the Price Tower skyscraper, the Guggenheim Museum in New