Econ Essay Example | Topics and Well Written Essays - 750 words

Econ - Essay Example This paper will look at the law of supply and demand and how it is applied in real life. The law of supply and demand is perhaps the most basic concepts taught in economics class. The law of supply and demand enables us to understand the setting of quantity demanded and price set in the market. It also stresses that the price level and quantity demanded varies according to changes in the markets through which there are movements within or shifts in demand and supply curves. First, the law of supply stresses that: (1) "at higher prices, producers are willing to offer more products for sale than at lower prices;" (2) "the supply increases as prices increases and decreases as prices decreases;" and (3) "those already in business will try to increase production as a way of increasing profits" (qtd from Reviews of Laws of Supply and Demand 1). This law creates a supply curve which is upward sloping. Logically speaking, manufacturers will tend to decide to supply more in the market if the price for their product is high. With lower prices, they have less motivation to increase production as profits are squeezed out. On the other hand, the law of demand states that: (1) "people will buy more of a product at a lower price than at a higher price;" (2) "at a lower price, more people can afford to buy more goods and more of an item more frequently, than they can at a higher price;" and (3) "at lower prices, people tend to buy some goods as a substitute for other more expensive"(qtd from Reviews of Laws of Supply and Demand 2). These reasons are consistent with the fact that people want to maximize utility through the consumption of more goods and services. Since they only have limited income, their overall aim is to find lower prices or lower priced goods in order to allocate this budget most efficiently. The law of demand and supply determines the price charged and the quantity demanded in the market. Through market forces, the prices tend to be at equilibrium where suppliers are willing to sell goods and buyers would be willing to pay at that level. With this intersection also is the quantity demanded which determines the amount that buyers are willing to buy and suppliers are willing to provide the market with. The operation of the law of supply and demand becomes more apparent in the present economic situation in the US. As customers struggle with lower income levels, they tend to buy lower priced goods than higher priced ones. This is true in my case; price becomes one of the primary considerations in my purchases because I would want to maximize the utility that I derive from my money. Also, I would demand more of a product if the price is lower. For instance, since burgers cost $4, I would only have to consume 1 in order to have money for drinks. However, if the price goes down to $2 each, then I will be willing to purchase two burgers. For a supplier, prices now also become more constraining. They wouldn't want to sell products which will not be profitable for them. Using the burger example and assumption of $4 as the equilibrium price, suppliers would be willing to supply 20 burgers at that level. Raise the price to $5 and they would say that they would even want to supply 30 or more because of the profit prospect. If prices decline to $2, then they might

Motivating the Employees Case Study Example | Topics and Well Written Essays - 750 words

Motivating the Employees - Case Study Example If Maryann is solely responsible for such behavior, then Burt can set Harriet Simon, who had always maintained the reports properly, as an example. However, Maryann failed to properly record the data, and this created grievances among the employees. Such irresponsible behavior by Maryann can considerably reduce the productivity of the employees. Burt needs to communicate to Maryann that such incident occurring due to her actions might lower the morale of the staff. In order to correct the irresponsible behavior of Maryann, it is quite imperative for Burt to act immediately – to identify the reasons for her actions and take corresponding measures to improve the behavior of Maryann and thus stimulate responsible work. Maryann must be reminded of the policies and the procedures of the company that she is supposed to abide by. The meeting can be conducted with Maryann and other employees to discuss the incidents of irresponsibility. During this meeting, the impacts of such unfavor able scenario on the organizational productivity should be addressed and certain corrective strategies developed. Burt could have prevented the dilemma by making his viewpoints apparent to Maryann at the time when he realized that the attitude of Maryann was quite unfavorable and she was incapable of accomplishing the delegated task. If Burt had corrected Maryann at the time she committed a mistake, he would have conveniently prevented the dilemma from occurring. If the evidence of poor performance had been produced before Maryann, the matter would have been resolved. When the evidence reveals the fact that there is an issue with an individual’s performance in terms of conduct, then it is necessary to refer to an organization’s disciplinary procedure. Training and coaching could have been offered to Maryann in order to improve her skills. Through adequate mentoring, Burt could have developed the knowledge  and the skills of Maryann. It is apparent from the case that Maryann was not serious enough and also did not properly focus on her job responsibilities.  

Adrenaline rush Essay Example for Free

Adrenaline rush Essay This week was so stressful. For the entire whole week, I was assigned to track the advertising history of the company’s sports drink client. I ran through hundreds of video tapes of the sport drink’s advertisement in the span of 5 years, noting each and every aspect in the ideals in their communication style. I was assessing the visual, the content and the semiotics of the whole thing. What’s worse about it is that I have to review the entire set of tapes in the office. I would have liked it watching at home but I have to be confined in the workplace. But knowing it was a job; I accepted the challenge and readied myself for hours and hours of video tapes. But I learned another valuable idea in the media industry concerning contents of the advertising. In a way, it does imply that advertisements do manipulate the consumer behavior. Watching the advertisements of the sport drink, I observed how it evolved into describing the product itself into touching the health issues of the health-conscious and athletes. Like what the sport drink company wants to advertise their latest sports drink product that addresses the more health-conscious consumer, I realized that they now are conscious of the fact that people today likes to know more of the content of their product, and that is their aim in their new advertising venture. Other things I was exposed this week: learning semiotics of the print ads of the sports drink company details on how STG Media Corp. analyzes these given semiotics establishing more communication with the sports drink company developing more personal and professional relationship with the Creative Team (they invited me to one of their deliberations and I get to witness how they brain-storm ideas for the project) Week 4 (provide date) It was a week of adrenaline rush. The Creative Team finalized their output and was presented to the sport drink company. They liked it! With this the whole team was pressed for time. Everybody seemed to be really anticipating the results. I was assigned to track the statistics of how the product is doing in the market after the release of the advertisement. The company has a great way to promote the product and was successfully able to deliver the results for the company. Other thing I learned is that the media industry has many issues to deal with. Like for example, the Creative Team was perfectionists in the sense that after releasing the output in form of the print ad, they wanted to be sure that the effects of the print ad will be evident and reflected through sales. They were still anxious and worried of the end result when in fact; they already did their job by producing a print ad. I realized that many of them really are dedicated in providing the client with their money’s worth. Another thing I realized is that companies take advertisements seriously. I thought that business management theories and ideals only entails that they give importance to advertisements, but through this experience I learned that they are really committed in selling the idea to the consumer. And this generates the influence of media to the consumers. Week 5 (provide date) This week was a mix of tasks. One of the most interesting things exposed to me was the process of reviewing the Creative Team and the advertising project in general. I thought that the evaluation of the employees was done by the executives of the company alone, but at STG Media Corp. , they provide real life processes in dealing with performance issues. The company has an interesting way to evaluate its employees. There is the concept of a performance improvement plan that is drawn between the Human Resource department of the company and from the employee’s manager, in this case the Creative Team head. These reports are then presented to the employees. This draw my attention as I realize that the method of evaluating employees in this company is a non-punitive method that demonstrates how the company recognizes the issues in the Team but are willing to work with the employee and give them opportunity to improve. It was interesting to me because of notice that one particular person was not able to contribute that much in the Creative Team and was not able to contribute much ideas in the process (I was present in almost all their meetings so this is an observation that is true). The evaluation was not very good to him and as a result, the whole Creative Team talked it through the management. The executives of the company then addressed a letter to the employee and showed his performance evaluation. After which, the whole Creative Team approached and talked to him and encouraged him to be open and present his ideas. Turns out, the team member was intimidated with the other professionals he is working with and needs to feel he is welcomed in the team along with his ideas.

Tata Motors Capture Increase Market Share In India Marketing Essay

Tata Motors Capture Increase Market Share In India Marketing Essay The acquisition of the two global brands- Jaguar and Land Rover acts in a crucial way to increase and develop the brand reputation and the quality of products for Tata Motors. It provides plenty of opportunity to the Indian consumer and the developing Indian automobile market can also help the launch of brands in the long-term. It can reap economies of scale through component sourcing and low cost engineering. Weakness: With different product portfolios for both brands it will be a challenging task ahead to market the same in the price sensitive Indian market. But this could be overcome through proper market research. Another concern is the diminishing image due to the continued losses and a de motivated work force due to the change in management. With right training and incentives and proper marketing strategies the company can convert these negatives to strengths. Opportunities: This launch is a great opportunity for the Indian customer and target the growing Indian market. Automobile market is developing in India and placed with launch of Nano, Tata Motors will be in a good position capture a larger share of the market. Threats: Increasing fuel prices combined with global meltdown will be a challenge for the company to stay afloat and over come the losses. In addition the strong competition can threaten the expected sales of the company. However the inherent financial and managerial strength of the conglomerate should be able to let the company withstand the challenges and move ahead. A danger that remains is that with the new ownership international brand loyalties may change and customers may move towards other models in the market. Ansoff Matrix: The Ansoff Matrix is an analytical tool that helps managers to devise their product and market growth strategies. It consists of four growth strategies namely- Market penetration, Market Development under new and existing and markets AND Product development, Diversification under new and existing products.  [2]   Ansoff Matrix- Existing product New product Existing market Market penetration This strategy mainly applies for those businesses that focus on selling existing products in the existing markets. It is a low- risk strategy and helps to increase the market share of itsà ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒ ¢Ã¢â‚¬Å¾Ã‚ ¢ current products.  [3]   Product development This strategy involves businesses aiming to sell new products in existing markets. This strategy is also a reason for acquiring another company as the costs of starting another company can be saved and different types of customers can be catered. This strategy is also useful for businesses using brand expansion strategies.  [4]   New market Market Development This method serves for those businesses that apply the strategy of selling existing products into newer markets.  [5]  Such techniques are used by businesses that plan to expand their business and attain higher customer base. Diversification It refers to the high risk growth strategy that involves a business marketing new products in new markets. Parent companies can benefit from having a presence in a range of products and markets in different regions of the world.  [6]   Market Penetration- Tata could continue with the same strategy that it had adopted for the UK for the rest of world. The estate, coupe and open saloon models of Jaguar and the Freelander and Range Rover sport of Land Rover selling in the existing markets UK can help them to gain profits and increase in sales in other markets due to the reputation of the brands. For the new models that are planned to launch, promoting and advertising can be a good choice for the firms to maintain their position in the market and to attract more consumers and build customer loyalty. Tata Indica and other commercial vehicles like Tata Ace are examples of Tataà ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒ ¢Ã¢â‚¬Å¾Ã‚ ¢s market penetration strategy that exist in the existing markets and are still earning them great profits. Market Development Tata Motors have applied this strategy to this launch plan as they are already beginning to sell the most famous and highly appreciated products of both the brands such as the XF, XK and XJ models of Jaguar and Defender, Discovery, Range Rover Sport and Range Rover models of Land Rover in the Indian market that is completely new for both the firms. Also, while the other long and short-term plans are being strategized, these products can help the firm to have a great introduction to the market and the reviews can help the business in planning for their future types of products. Establishing popularity and brand loyalty with successful products can be a good option for the firm to begin with in India. Product Development- Tata Motors are launching the smallest car the famed Tata Nano in the Indian markets which is a new product by the firm and launched in existing markets of India and other countries where Tata Motors operate. This car can be useful for the firm as they can easily generate profits through this product as well as their brand name. Also, the firm can compete with other businesses in the same market with the help of these products. Tata Starbus and Tata Xover are other new products that have been launched by Tata Motors in India and other existing markets of Tata Motors. Diversification- The new products planned by Tata Motors through the Jaguar and Land Rover brands can be categorized in diversification. The company plans of manufacturing hybrid, electric and bio-fuels based and environmental friendly cars with the help of latest technology through both of these brands which can be useful in boosting the brand image of the firm. Also, there may be an increase in the profits of the firm as the hybrid cars are said to be the future of automobiles in order to save the earth from pollution. These new products launched in the new markets of India and others can be termed as diversified strategy of the firm. Tata Nano can also be included in this strategy as it is also a new product and is planned to be launched into new markets of African and Asian countries. Asset led marketing: Asset led marketing is a strategy that is adopted by the business for the sales of their products or services. Here, the firm uses its intangible assets for introducing a new product in the market. Tata Motors is a well-established and well-known firm and a part of the parent company Tata and Sons. Thus, in order to launch its products or services in the market and start off with immediate sales and profits, Tatas can use this which may even be applicable for launching the two automobile brands. Tata Motors have been in the news for past several months due to the launch of the worldà ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒ ¢Ã¢â‚¬Å¾Ã‚ ¢s cheapest car in India- Tata Nano manufactured by their own company. Simultaneously launching two brands can help Tatas in gaining a lot of customer attention and thus a larger customer base. The well established and elegant brands with the giant prestige of Tata Motors can help the firms in garnering huge amounts of profits and gaining control over their competitors. Evaluation : The biggest advantage of this acquisition is that the firm might see an increase in sales of the cars due to both firmsà ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒ ¢Ã¢â‚¬Å¾Ã‚ ¢ worldwide luxury brand reputation and also due to the services and quality provided by the cars. But at the same time, the number of competitors in the booming automobile market of India has increased and finding their way out to satisfy the customers with different marketing strategies can be very costly for the firm. Tata Motors can implement various strategies such as advertising and also, various schemes can be used which guarantee consumer satisfaction and can also prove to be a part of customer attraction. These strategies can prove to be useful in boosting the brand image and the sales of the company as well. Short- term problems faced by the firm may be the recovering of the costs that has been put into the acquisition and the launch of Jaguar and Land Rover cars. The high manufacturing costs of Tata Motors, Jaguar and Land Rover might prove to be another reason for the losses in the accounts of the Tata Motors. The long-term problems can be an increase in competition as the Indian automobile market is developing at a rapid rate. If the company suffers losses, then there might be the need for job redundancies, thus leading to worker de-motivation. Conclusion: To conclude, the acquisition of Jaguar and Land Rover brands may be risky due to the global slowdown but Tata Motors with its brand name and established presence in India can succeed in the long run. Tata Group, a huge multinational giant worldwide can capitalize through cross-subsidization. I think that by promoting the products and launching it along with Tata Nano will be useful as each can be a backup for the other in the future. The workforce can be motivated through good learning experience as they may have access to the technology used in manufacturing these premium cars but at the same time, if the products fail to create a mark on customers, the workers may feel insecure as job redundancies may be adopted by Tata Motors to struggle with their own financial portfolio. Bibliography- http://uk.reuters.com/article/idUKTRE55R0LK20090628?pageNumber=2virtualBrandChannel=0 http://www.autoblogs.in/2009/06/tata-jaguar-land-rover-launch-india.html http://free-sms-mms.blogspot.com/2009/06/tata-jaguar-land-rover-launched-in.html http://www.zeenews.com/news542730.html http://sify.com/finance/fullstory.php?id=14790692 http://www.businessworld.in/index.php/In-The-News/Rough-Roads-Ahead.html http://business.outlookindia.com/inner.aspx?articleid=1225subcatgid=611editionid=36catgid=44 http://www.tata.in/media/reports/inside.aspx?artid=r8CuZiHSZ2o= http://money.rediff.com/companies/tata-motors-ltd/10510008/profit-and-loss http://www.moneycontrol.com/financials/tatamotors/profit-loss/TM03 http://www.moneycontrol.com/financials/tatamotors/balance-sheet/TM03 http://www.moneycontrol.com/financials/tatamotors/ratios/TM03 http://en.wikipedia.org/wiki/Tata_Motors

The Turning Point in John Updikes A & P Essay -- A&P Essays

The Turning Point in John Updike's A & P John Updike's short story "A & P" reveals nineteen-year old Sammy, the central character, as a complex person. Although Sammy appears, on the surface, as carefree and driven by male hormones, he has a lengthy agenda to settle. Through depersonalization, Sammy reveals his ideas about sexuality, social class, stereotypes, responsibility, and authority. Updike's technique, his motif, is repeated again and again through the active teenage mind of the narrator Sammy. Sammy is, like most young men, object-minded. The object of his mind is the female body. Although his upbringing and the fact that he is at work do not allow him to voice his admiration for the girls in bikinis at the A & P, he lets the reader know, in no uncertain terms, what he is thinking. He gives each girl a name--Plaid, Big Tall Goony Goony, and Queenie--based on his evaluation of their physical body parts. The game is one that teenagers play the world over, with countless hours spent seeing and being seen. The primary object to view, in Sammy's eyes, is the queen. He describes how "she must have felt in the corner of her eye me and over my shoulder Stokesie in the second slot watching, but she didn't tip. Not this queen" (28). Sammy goes on to tell how "she [...] turned so slow it made [his] stomach rub the inside of [his] apron" (28). The irony of the setting is that the girls, dressed in nothing but swimsuits, have turned the neighborhood grocery store into a human meat mark et, with themselves as the commodity of choice for the male consumer. In Sammy's mind's eye, the queen was of such regal bearing that she commanded his worship. He envisioned his well-bred idol as being of a higher social class than his own. ... ...iphany that afternoon in the A & P. Sammy's immaturity and lack of experience were largely to blame for his wrestling with conflicting roles in his transition from child to adult. Updike's protagonist was at the same time an imaginative, observant young man who stood by his convictions, defending the girls to the end. Sammy was perhaps more intelligent and more gutsy than one would like to give him credit for, however. He knew what he did not want out of life. On that Thursday afternoon in the A & P, his name game caught up with him. Quitting his job was to be a turning point for him, a time for him to confront his own issues of sexuality, social class, stereotyping, responsibility, and, on a deeper leve, authority. Work Cited Updike, John. "A & P." Literature: Fiction, Poetry, Drama, and the Essay. Ed. Robert DiYanni. 5th ed. New York: McGraw, 1998. 27-31.

Essay --

In Aristotle’s definition of a tragic hero, a tragic hero must be superior to the average person in some way. They must evoke pity, and do so by being imperfect, and having a tragic flaw. In The Crucible, by Arthur Miller, John Proctor is portrayed as the tragic hero. It may appear that Proctor’s tragic flaw is lust, due to his affair with Abigail. But lust does not explain John’s refusal to become involved in the trials before his wife was accused when he knew that Abigail was lying. It makes more sense that his flaw would be selfishness. It gives a better explanation for his demise and his lechery. It was not the act of adultery, but his reluctance to admit to it and accuse Abigail of being a fraud that lead to him hanging from the gallows. Proctor knows that the only reason Abigail accuses his wife of witchcraft is because she wants her out of the picture. And even when Elizabeth pleads with John to go and tell the court he refuses because there is â€Å"no proof†. From the start of the play John places a great importance on his reputation and the fact that he cannot live without his name. It is clear that John does not want to accuse Abigail of witchcraft. If he does so he runs some risks; she is considered â€Å"a saint † and accusing her could make him look bad and soil his name, and accusing her could also lead to his lechery being made public, again soiling his name. But his silence means that innocent men and women will hang. This quiet act of supreme selfishness is where the outcome of the play is really decided; John’s fate sealed. While Proctor certainly was a flawed man, the events in The Crucible eventually lead to him recognizing and overcoming his selfishness. The first key example of Proctor acting in a selfless manor is ... ...ide as well. Proctor is the â€Å"good guy†, and is sentenced to death, hung for his crime of defending his wife. In addition to this, Proctor is sent to his death willingly after choosing to die rather than ruin the names of the others that were accused. But the real crime that he is being punished for is giving into his lust and having an affair with Abigail. Everybody makes mistakes and has a moment of weakness now and again. It’s hard to not feel at least a small amount of pity for him even if you dislike him. While Proctor is not always the most likable, he has all the characteristics of a tragic hero. While selfish and undoubtedly not perfect, he is a respected man. His selfishness is his tragic flaw, which leads to his eventual death, but on the way down he realizes his own flaws. In an act of courage, John Proctor goes to the gallows with his good name and honor.

Adolf Hitler and Joseph Stalin

Adolf Hitler, Joseph Stalin was one of the most ruthless and diabolical people in the history of the world. Hitler once said of Stalin, † He is a beast, but he’s a beast on a grand scale who must command our unconditional respect. In his own way, he is a hell of a fellow! † (Stalin Breaker of Nations, p. xvi) What Hitler said of Stalin is only his opinion, and it is not a valid one at that. For you must consider the source, it takes a beast like Adolf Hitler to know a beast and Stalin was a horrible beast. He was also a murderer. Stalin abused his people when he starved them to death, and systematically murdered them. Stalin also abused his country by halting Russia’s progress and economic growth. Stalin was a breaker of nations. Stalin first enter the Russian political system in the early nineteen teens. With the help form Lenin, Stalin proposed an answer to the National Question, which was self determination. Stalin’s ruthlessness is first discovered by Lenin, when Stalin is sent to Georgia to convince the Georgia leader not to practice self determination. When the leader does not agree with what Stalin has to say, Stalin punches the man out and threaten to kill them all. Years after that incident Lenin end up dying and Stalin takes over as the leader of Russia. Because Trotsky was hated by many of the influential political figures in Russia, Stalin becomes the leader of Russia even after Lenin’s dying last wishes. 1929 was the first of many years in which Stalin stunted Russia’s growth. In that year the â€Å"Engineer Trials† were held. During these trials the Russian elite was brought forth by Stalin on the account of treason. Confessions by the elite which consisted of engineers, doctors, lawyers, teachers and clergy were extracted by many means including torture. After these trials were through thousands of the Russian elite were murdered, with their blood on Stalin’s hands. These trails had a horrific effect on the progress of Russia, there was now nobody left to lead Russian into the future, and the few elite’s that still remained in Russia lived in constant fear of their lives. Around 1932, Stalin had put his plan into action that was later called the Terror Famine. In the Terror Famine, Stalin started to order grain requisitions from the lower class in the Ukraine. Stalin used his army to retrieve the grain from the people, following the orders by Stalin, the army takes too much grain and causes a famine among the lower class. Stalin justified the taking of the grain by saying that it was just a way for the state to regulate the price of grain. By doing this Stalin ended up breaking the back of the Georgians and the Ukrainians. Knowingly, Stalin eliminated millions upon millions of Russian, between 30 and 50 million, in his attempt at an absolute totalitarian rule in Russia. By killing so many of the Russian’s who were the ones which the economy was supported on, Stalin has broken the nation of the Ukraine. From around 1936 through 1938 Stalin extracted his Great Terror. The Great Terror consisted of many events including the Purge Trials and the Katyn Massacre. During the purge trials, Stalin once again haltered Russian progress. The Purge Trials eliminated many military officers and engineers. The numbers are not exact, but between 250,000 to 500,000 Russians died because of Stalin’s orders. These trials caused mass paranoia of the elite’s, afraid to make a difference, for if they did then they would ultimately end up dead. Stalin not only haltered the growth of his own country, but he haltered the growth of neighboring counties, on being Poland. In Poland during the Great Terror, Stalin ordered the Katyn Massacre to occur. The top 15,000 officers in the Polish army were rounded up and killed in the forests of Belarus. This was a deep wound, the stunted the Polish progress, since now there were would be no more experienced leaders in Poland’s future, since Stalin killed most of their military elite. Once again Stalin had broken another nation. During all this time, Stalin was also methodically killing off all of his political opponents, or anyone who posed as to be the most remote of a threat to him. Unlike what Hitler thought of Stalin, the opposite is true. Stalin showed mercy to no one, he evil incarnate, killing innocent Russians and severely damaging any possible of future progress for Russia. Stalin had broken the Russian nation.