Holden Caulfenstein And Absurdity - 772 Words

In The Catcher and the Rye, by J. D. Salinger, Holden Caulfield confronts the absurdities of life, identical to those of Albert Camus in The Myth of Sisyphus. In The Myth of Sisyphus, Camus tells â€Å"of an apartment-manager who had killed himself I was told that he had lost his daughter 5 years before, that he had changed greatly since, and that that experience had ‘undermined’ him.† Just as the absurdity of the apartment-building manager’s daughter had undermined him, so has the absurd death of Allie undermined Holden. Holden loses sight of the meaning of absurd objects such as money, jobs, and school and the meaninglessness of the world begins to overtake him. In the end, Holden finds meaning in life through Phoebe and his love for her.†¦show more content†¦Just as the boulder returned to the bottom for Sisyphus again, so did each day for Holden Caulfield. In The Catcher and the Rye, the endless patterns of human interactions are the absurdities that are used to beg the question: what is the purpose of life? Holden has his faith rooted in the goodness of life before Allie dies. The absurdity of Allie’s death was to call to Holden’s attention the multiple absurdities of living in the earth. Holden has tried to escape the meaninglessness of life through living in the woods, running away with Sally Hayes, prostitutes, drinking, smoking, and even suicide. Yet each was a temporary solution that left him for worse, ruining his relationship with Phoebe and Sally, getting himself beat up, and leaving himself for worse. With no meaning in life, Holden contemplates suicide. â€Å"What I really felt like, though, was committing suicide. I felt like jumping out the window. I probably wouldve done it, too, if Id been sure somebodyd cover me up as soon as I landed,† Holden says when he is reflecting on his life in the hotel (116). Holden is completely willing to commit suicide if it was not for all the phony people that would gather just to look at him when he â€Å"was all gory† (117). Holden was completely undermined, and like the apartment-manager almost throws the last thing he owns away. In spite of losing practically everything he owned and every friend he had, Holden finds meaning

Essay on The Terrorists Attack on the World Trade Centre...

The terrorists attack on the World Trade Centre in New York on September 9, 2001 which changes the western concept about Islam and Muslims. Moreover, Islamic concept â€Å"Jihad† is criticized and it is questioned among Non-Muslims. 9/11 attack not only effects non-Muslims but also the Muslims who have no connections with the terrorist groups. As well as they do not support these terrorism. These Muslims face the hatred of the non-western people. They feel guilty about the Sin, they neither commit nor support. After 9/11, The Muslims all over the world called as terrorist and Islam is considered as religion which provokes terror. Although, the Muslim terrorists attempted these attacks on the name of Jihad, Islam does not encourage†¦show more content†¦According to the article, â€Å"The concept of Jihad†, Now-a-days, Many Muslims are engaged in the movements on the basis of â€Å"Islamic Jihad†. Thought calling themselves as Jihadi. Actions are needed a s Jihad to meet all circumstances. However, these battles on the behalf of Jihad does not meet the criteria. As they are promoting Fasad (opposite of Jihad) in the world and will not be rewarded by the Lord. Instead they will be punished for their evil deed. (Khan 81) An important question rises about the Islam which is â€Å"Does Islam promote violence?† The criticizers said that Islam advocates peace and it does not maintain peace. According to the Islamic history, The Prophet Muhammad (P.B.U.H) never preached violence nor did he urge the Muslims to do brutal killing of people on the name of Islam. He always preferred the choice which did not raise fierceness. His enemies always abused him, their kids threw stones on him. They also plotted the murder against him. Instead of fighting back, he migrated to Medina. He gave several chances to his enemies. He also signed the treaties with Non-Muslims. The most of treaties points are in favor of Non-Muslims. If Islam and the Prophet Muhammad (P.B.U.H) anticipated to provoke violence, he would start brutal killing and did not sign any of these treaties. Why would he spent thirteen years in Mecca to preach the Islamic teachings? Because, he wanted to set an example for people that Islam is the nameShow MoreRelatedThe September 11th Attack on the World Trade Center1743 Words   |  7 PagesIn the early 1960’s, executive director of the Port Authority of New York and New Jersey, Austin J Tobin, brought forward the proposal for a giant skyscraper complex in order to accommodate for much needed office space in Lower Manhattan. The plan was met with considerable opposition at first, but Tobin’s proposal eventually succeeded, and Japanese-American Minoru Yamasaki was commissioned to design the building. Yamasaki projected a novel design for a development that included two 110 storey ‘twinRead MoreTerrorist Attacks And Its Impact On The United States Of America Essay1295 Wor ds   |  6 PagesOn September the 11th 2001, a series of ‘terrorist attacks’ struck the main cities of the United States of America. This is more commonly known as 9/11, hence the 11th of September. The story of this incident is that these deadly attacks were performed by Al Qaeda extremists. This event has been recorded in the pages of history as a clear act of terrorism war and has impacted many people’s daily lives, even here in New Zealand. But was it really these extremists who attacked the United States ofRead MoreThe Merits And Merits Of Media Coverage Of Terrorism Essay1607 Words   |  7 PagesIn 1983 the world woke up to the breaking news that terrorists bombed the United States Embassy in Beirut and killed 63 people. 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An early example of homegrown terrorism would be the Haymarket Affair which occurredRead MoreThe Political, Social, and Economic Changes Following 9/11 Essay examples1553 Words   |  7 PagesOn September 11 2001, an attack was made on United States. Four systematic terrorist attacks were pulled off by the group al-Qaeda sim ultaneously bringing down the World Trade Centre in New York and damaging the Pentagon in Washington D.C. As extensive and in depth as the cause for the attack may have been, September 11 is an event that has undoubtedly left its mark in American history. A turning point, as some would call it, of the political, social, and economic systems of the United States. QuicklyRead MoreAl Qaed Terrorist Groups Essay1690 Words   |  7 PagesFounded by Osama bin Laden around the late 1980’s, one of the largest, most terrifying, terrorist groups known worldwide is the Islamist organization, Al Qaeda. According to the Council on Foreign Relations, Jayshree Bajoria and Greg Bruno examine Al Qaeda as an international terrorist network that seeks to free Muslim countries of profane influence, and replace governments with fundamentalist Islamic regimes. Originating back to around 1988, Al Qaeda grew out of a Service Office, run by Osama binRead MoreInternational Terrorism - the Worlds Greatest Challenge Today?680 Words   |  3 PagesToday Today the threat of terrorism is becoming more and more serious. Terrorism is considered the greatest threat against the safety of the world, and especially the USA, today. The extent of the terrorism has increased significantly over the last couple of years, since the terrorist attacks against the US on the 11th of September 2001. After these attacks former president of the US, George Bush declared a war against terrorism. There are various opinions about what can be defined as terrorismRead MoreImpact Of The On American Society Essay1120 Words   |  5 PagesAccording to The New York Post, the number of cancer cases of 9/11 first respondents had hugely increased from 1,140 to over 2,500 within a year. However, the epidemiologists from Mount Sinai hospital do not agree with the double of this case as it is crucial to ‘be careful and try to understand what you are comparing.’ The hospital also conducts research and finds out that, comparing to the general population in America, there is an approximately 20% increase in cancer incidence in 9/11 rescue andRead MoreDid 9 / 11 Change The Way We Travel?1024 Words   |  5 Pages1.How did 9/11 change the way we travel? Before the 9/11 attacks, which changed how we travel, airport security was minimal, with just X-rays and metal detectors. No one got a body search, and almost no one’s carry on bag got checked. No aircraft was required to shut the cockpit door, and air marshals weren t everywhere, only 33 Federal Air Marshals were active on 9/11. Friends and Family were authorized to go all the way to the gate, and people were allowed Swiss Army Knifes on flights. EveryoneRead MoreThe Disaster Of The 9 / 11 Disaster3545 Words   |  15 Pagesinterchangeably because they are similar but not the same. ‘Though both emergencies and disasters present situations that demand quick action, one can prepare for emergencies but not disasters.’ (Online, 2010) Due to the scale of the disaster, New York would not have had the resources to deal with the situation themselves, this is where the Federal Emergency Management Agency (FEMA) comes in. The main purpose of the agency is to coordinate the response to a disaster in America that overwhelms

Dell Hbr Case Study Free Essays

string(90) " start working with prepayment for its orders which will help to collect the cash faster\." INTRODUCTION Dell Computers was started by Michael Dell in 1984. Dell’s primary differentiator was its business model. It sold primarily on the B2C market and custom built personal computers on demand. We will write a custom essay sample on Dell Hbr Case Study or any similar topic only for you Order Now Therefore, it had very low inventory by comparison to its competitors. As a result of this, Dell was able to operate quite efficiently and profitably in its niche market. By the late 1980’s – early 1990’s, Dell noticed that its market share was only 1% of total and that industry amalgamations could potentially force Dell out of the market. It was time to make a decision; it could remain status quo or pursue an aggressive growth strategy. The latter option proved to be favourable and Dell expanded into the B2B marketplace through a growth plan that focused on selling to retailers to improve its market share. The plan worked and Dell saw subsequent revenue increases of 268% within two years, compared to industry growth of 5%. 1 The good times came to an end in 1993 when Dell posted its first loss after eleven subsequent quarters of profit. Dell decided to more efficiently manage its liquidity, profitability and growth and was exited the indirect retail channel where margins were exceptionally low . The retail channel had served its purpose, however, in assisting Dell as a brand to become well known throughout the market place. Following these measures, and the fact that Dell had exceptionally low relative inventory, they were able to become the first company to launch the new Pentium chip computers and maintain first mov er status with subsequent upgrades. Michael Dell was now in a position to forecast future growth for his company. STATEMENT OF PROBLEM Michael Dell predicted that the company’s growth rate for the next year would again outpace the industry. Dell needed to focus on how its working capital policy could assist in financing future growth. Further, what other internal and external financing options might assist Dell in reaching their goals? RECOMMENDATION Assuming Dell’s sales will grow at 50% in 1997, h ow would you recommend that the company fund this growth? How much capital would need to be reduced and/or profit margin increased if the company were to fund its growth by relying only on internal sources of capital? What steps would you recommend the company take? Dells attempt to increase its sales by 50% in 1997 will require 2 major types of investments: Investment in working capital We estimate this figure to be $345M (please refer to Exhibit 1 for the detailed calculation). Investment in fixed assets Expansion of production will most likely require the purchase of the additional equipment. There is no data available in the case on depreciation expenses or capital expenditures made by Dell in 1996 to support the 52% growth of sales. However, if we refer to Dell’s full financial statements for 1996, we see that Dell spent $100M on capital expenditures and we assume it will spend approximately the same amount in 1997. 1 2 Richard Ruback, â€Å"Dell’s Working Capital,† Harvard Business Review 9-201-029 (2003): 3. Ibid 1|P a ge EDHEC MBA – Dell Business Case From the projected figures in the Exhibit 1 we conclude that Dell will be able to finance the above investments using the following funding sources: Profit margins and management of the working capital cycle Assuming that there is a certain percentage of fixed costs in Dell’s cost structure, the company will be able to increase its net profit margin from 5. 1% in 1996 to 5. 6% in 1997, generating a net profit of $448M. Net margin should be sufficient to cover additional working capital of $345 M if Dell is able to maintain its Cash Conversion Cycle (CCC) at 1996 levels of 47 days. Maintaining the CCC at the same level is crucial for this type of financing to be sufficient. An increase in DSO by 5 days will increase working capital delta up to $453M (refer to Exhibit 2) and will force Dell to increase margins, which may reduce revenues, or look for other sources of funding. Debt or use of the short term investment funds The use of these resources might be necessary for the financing the purchase of the equipment to expand the production capacity. Two scenarios could take place: 1. A one-off investment is required to be made in the beginning of the year. Since the company will have no possibility to generate profits or free up its working capital, it could either liquidate some of its short term investments of $591M or get a loan. The decision will depend on whether the rate of return on investment is higher or lower than the interest rate on the loan, taking after tax effects into consideration. If the rate of return is higher, Dell should finance the purchase of fixed assets through the loan, if it is lower , it should use its investment account to finance the capital expenditure. 2. Gradual investment in capital expenditure is possible. This could be done only by using margins generated within the year and decrease in CCC by managing receivables-days cycle. If the company can manage to decrease its DSO days from 50 to 40 days, it can reduce its working capital delta to $126M (Exhibit 2), thus making the remaining net profit available for capital expenditures. How, if at all, would your answers to Question 3 chang e if Dell also repurchased $500 million of common stock in 1997 and repaid its long-term debt? If Dell decides to repay its debt of $113M and repurchase stock of $500M, the following steps could be undertaken. Stock repurchase A decrease in DSO by 10 days and increase in DPO by 10 days will release working capital of $44M in addition to cash profit based on $448M in accounting profit (most likely it is higher by the amount of depreciation). These cash amounts will then allow Dell to repurchase its stock. As Dell expands its customer base and brand penetration in the market it can start working with prepayment for its orders which will help to collect the cash faster. You read "Dell Hbr Case Study" in category "Essay examples" Further, as the size of its orders to suppliers grows, it will be able to exercise its buyer power and negotiate more favourable payment terms. However the following action should be taken only if Dell shareholders could earn better return at a similar level of risk in the market. In the current situation it seems that Dell performs better than its competitors thus it would be more appropriate to invest the $500Mof free cash in further expansion. Debt repayment If Dell increases its margin up to 6. 8% it will be able to make an additional $110M in net profit to repay the debt. Another option is to free up some funds from short term investments. The decision will depend 2|P a ge EDHEC MBA – Dell Business Case on whether increase in price will lead to a significant loss of customers. If this is the case, the company should use its current cash reserves to perform the repayment. We also note, that 0% debt in the capital structure is most likely to be not optimal for the company and by using leverage Dell will be able generate better returns for its investors. DISCUSSION Explain how Dell’s working capital policy is a competitive advantage for the company? Strategy Built-to-Order Just-In-Time Delivery Distribution Channels (Retail Stores) Early Adoption of New Technology DELL ? ? X ? Apple X X ? X Compaq X X ? X IBM X X ? X Built to Order: Unit production only begins after receiving customer orders over phone or via email. This significantly reduced the outstanding inventory and hence reduced working capital requirements for funding inventory warehousing and inventory financing. Just-in-time Delivery: Dell’s factory had close physical proximity to its suppliers. Suppliers would ship parts only after customers placed orders, for just-in-time delivery. This helped to maintain accounts payable to a minimum. No Retail Distribution Channels: Since orders were only taken via email or phone, Dell was able to cut down on the costs of maintaining distribution channels and reduce accounts receivable from distributors and retailers. This reduced working capital requirements. Early Adoption of New Technology: Low inventory levels helped Dell to quickly switch to newer product upgrades and reduce the cost of existing inventory turnovers compared to competitors. This further reduced working capital requirements. DSI Advantage: As a result of above strategies, Dell achieved an average DSI of 40 between 1993 and 1995, compared to Apple’s 64, Compaq’s 68 IBM’s 56. How did Dell fund its 52% growth in 1996? Please be sure to distinguish between internal and external sources of funding, and to discuss the trade -off between the use of external funds in order to maintain high growth rates. The 52% growth was a result of the new Pentium chip introduction (Exhibit 3 from the case). Regarding working capital management, we noticed from Exhibit 2 from the case, excellent performance in maintaining CCC at 40 days; while product switches required double stock management. As the Pentium introduction was already launched in 1995, we assume that growth was constant and continuous during 1996 period. Compared to 1995, the 1996 financial performance for gross margin is lower by 1%, but net profit has increased by 1%. 3|P a ge EDHEC MBA – Dell Business Case To improve the availability of cash, Dell can implement factoring on receivables (internal) or negotiate with banks for short term credit lines and overdraft accounts (external). Even if CCC remains constant during this period of growth, balance sheets analysis shows that CCC changed from $428M in 1995 to $689M in 1996. As the debt level remained constant during these two periods, this extra $261M was financed with internal funds. The two main sources of internal funds used to finance working capital and CAPEX (not detailed in case information) were: The $272M 1996 net profit and the capital increase at $74M (total stock value difference between 1995 and 1996). Even if Dell decided to not reduce its amount of debt, this process will allow the company to reduce the Debt/Equity ratio keeping constant level of debt while significantly increasing equity. This strategy will bring Dell more flexibility for the future. The firm will be able to consider different options for future growth; either the same strategy the issuance of more debt due to their low leverage being relatively unleveraged. 4|P a ge EDHEC MBA – Dell Business Case APPENDIX Exhibit 1 Projected Income statement and balance sheet items for the year 1997 Item Sales Cost of sales Gross Margin Operating expenses Operating income Financing and other income Income taxes 30% Net profit 1996 (actual) 5 296 4 229 1 067 690 377 6 111 272 Growth Coefficient 1,5 1,5 1,4 1997 (projected) 7 944 6 344 1 601 966 635 6 192 448 Ratios : 37 1 37 DSI 50 1 50 DSO 40 1 40 DPO 47 1 47 CCC Balance sheet items : 429 644 Inventory 726 1 089 Accounts receivable 466 699 Accounts payable 689 1 034 Working Capital 345 Additional working capital required Projections for the year 1997 were built based on the following assumptions: 1. Growth coefficient of 1,5 was applied to income sales and cost of sales to reflec t the projected 50% growth in operations 2. Growth coefficient of 1,4 was applied to operating expenses. The assumption was made that part of operating expenses are presented by fixed costs thus they don’t grow at the operations growth ration. 0% rate was taken based on the year 1996 increase. 3. Income taxes were calculated using 30% rate being the rate on income tax in 1996 (calculated as Income taxes/(Operating income + Financing income)) 4. Ratios for the year 199 were calculated using the following formulas: DSI=Inventory*365/COS DSO=Accounts Receivable*365/Sales DPO=Accounts Payable*365/COS 5. We assumed that company will main tain the average ratios for the year 1997 6. Using the reverse formula for ratios calculations we derived accounts receivable, accounts payable and inventory for 1999 from the projected sales and COS figures. . We calculated Working Capital for both years using the formula: Inventory + Accounts receivable – Accounts payable 8. Additional working capital required: Working capital 1997 – Working Capital 1996 5|P a ge EDHEC MBA – Dell Business Case Exhibit 2 Variations in working capital requirements 37 50 40 47 37 55 40 52 37 40 40 37 -10 days on DSO; + 10 days in DPO 37 40 50 27 Inventory, $mln Accounts receivable, $mln Accounts payable, $mln 644 1 088 699 643 1 197 695 643 871 695 643 871 869 Working Capital 1997, $mln Working Capital 1996, $mln 1 033 689 1 145 689 818 689 645 689 344 456 129 -44 Item DSI, days DSO, days DPO, days CCC, days Additional working capital required, $mln Ratios at 1996 level +5 days in DSO -10 days in DSO Exhibit 3: Detailed calculations relative to question N °2 6|P a ge EDHEC MBA – Dell Business Case 1 – CCC worth calculation: (see figures in red rectangle) CCC = DSI + DSO – DPO From above table, CCC = inventories + Accounts receivables – Accounts payable CCC1995 = 293 + 538 – 403 = 428 M$ CCC1996 = 429 + 726 – 466 = 689 M$ 2 – Total stocks value: (see figures in blue rectangle) Total value = Preferred stocks + Common stocks 1995 = 362 M$ 1996 = 436 M$ 7|P a ge How to cite Dell Hbr Case Study, Free Case study samples

Business Strategy of Barnes and Noble-Free-Samples for Students

Question: Analyze the sector in which the Company Operates.What are its competitive advantages? We have to use Micheal Porter Model. Answer: Introduction International business contains all the commercial transactions which take plays between two or more cultures, ethics, and countries beyond their political boundaries. In terms of definition, it is all those business activities that contain the cross-border trades of goods, services, and the possessions among two or more nations. As international business is about transporting the goods and services to another country, it helps in earning foreign exchange. It helps in the optimum utilisation of resources as it creates goods on a large scale of the international market. This study will outline the international business strategy of Barnes and Noble, which is the worlds largest bookseller and chief retailer of content, digital media and educational products. The stated establishment functions more than 630 stores and 50 states and offers premier e-commerce websites and also offers a line-up of popular NOOK tablets and eReaders. This study will analyse the sector in which company operates and will use the Porters Model for its competitive advantage. The strategies of the company will also be outlined by using PESTEL analysis. Furthermore, the study will highlight the companys international strategy by using transformative business models. At last, the study will portray the six features of transformative business model. Company Overview Barnes and Noble Inc., is the worlds largest bookseller and leading retailer of content, digital media and educational products (Barnes Noble, Inc, 2003). The stated company operates more than 630 stores and 50 states and offers premier e-commerce websites and also offers a line-up of popular NOOK tablets and eReaders. Barnes Noble is a fortune 500 listed companies and has the largest number of retail outlets in United States. The organisation mainly operates through its Barnes Noble Booksellers chain of bookstores. The businesss stores are open seven days a week and with an average of 26,000 square feet, it features the best service, depth of selection and confortable locations ("Barnes Noble, Inc.", 2014). It also offers its customers with delicious food and beverages so that customers can enjoy their time. Mission Statement Barnes Noble mission statement is to drive the best Omni-channel speciality trade in America in order to benefit both its consumers and booksellers to reach their ambitions while being a credit to the societies or societies they serve. As the booksellers, the company is ascertained to be the very best in the trade, irrespective of the size or business of its participants ("Barnes Noble, Inc.", 2014). The company expect to be a credit to the society it serves, to be a valuable resource towards the customers it serves and to be a place where its devoted booksellers could grow and flourish. Porters five forces New entrants- The discovery of digitalization and the devices that everyone can get in their phone like reading material rather than having a physical copy of it, has appeared to be an occurrence of new entries in the market. New entrants like, the kindle and ipad are the two devices that conducts vast population of buyers (Mick, 2012). And the device like the Android tablet is also entered as a new entrant in the market and gives high competitive challenges to Barnes and Noble. Bargaining strength of customers- Barnes and Noble is considered as the specialty markets thats gives vast ranges of products in bricks and mortar segment. The market is basically relies on how much money customers have left after purchasing requirements and demands (Mick, 2012). The company is now facing recession so the customer contribution has now become scarce when it comes to purchase the products as they are continuously shifting towards eBooks which are cheaper in costs. Bargaining strength of suppliers- Barnes and Noble basically does not have strict safety and safeguard when it comes to good on which the company rely on suppliers like the services, contents, product availability, certain payment and the credit limit extensions. There is even no guarantee of the long term relationship developed among Barnes and Noble and the suppliers. Because of this company can be at a huge risk (Modi, Durkin, Kass Ulin, 2017). If many of these suppliers have to stop selling the products to the company when they required for carry on sales then constant services can be maintained. Almost 50% of their purchased products value comes from Barnes and Nobles five main suppliers. Substitute threats- rather than visit to book stores or shops, consumers can even visit to the other firm which provides their preferred books at a rate of 50% off price cut. This involves firms like Amazon and Walmart. The company is even threatened by these two companies which is another way of getting books because of them they have quite less pricing strength for controlling it (Modi, Durkin, Kass Ulin, 2017). The company also experiencing a same kind of substitute threats when it comes to its Kindle electronic reader and also the digital devices. Competitors- Barnes and Noble and its rivalries are combating to be in the top in terms of source of getting reading materials. There are mainly two competitors groups which pretense a threat against Barnes and Noble. These two groups are specialty shops and bookshops. Bookshops which compete with Barnes and Noble are mainly Books-A-Million Borders. The company has even exceeds these bookshops and congealed themselves as the top book store in the country. Specialty shops which are competing with Barnes and Noble are mainly Walmart, Costco and Amazon (Phillips, Henry Der Wal, 2007). The company is even not congealed as large of a market position when it comes to this retailers group. This is because of conducting less pricing strength unlike the specialty shops that are popular for giving discount price which many firms would struggle to compete. Pestel Analysis Political- E-commerce, Internet taxation, government reserves in ICT. Economic- Adverse economic downturn, Economic growth in China and India, money fluctuations (Svensson Wagner, 2011) Social- online and social networking, ethical and religious issues, exaggeration and centralization Technological- Three dimensional books tech, virtual libraries boom, e-book wars Environmental- People are now more concern about ecological friendly issue and thus shifting towards eBook, more and more campaigns for green printing or eco printing for utilisation of recycle paper printing. Legal- Law for protection of copyright of books are in favour of booksellers, product labelling and consumer rights and laws International strategy of Barnes Noble The strategy of Barnes and Noble is getting better. But there are still many issues to handle for the largest bricks-and-mortar book retailer as it battles with its largest rival Amazon for the minds, hearts and wallet of the readers (Best, Zeigler, Smith, Whitley Cornwell, 2010). Barnes Noble wants to become more than just books. It is evident that people always have a soft spot for the physical books. With rise in the Amazon and losses from the companys Nook e-reader division and closing of many stores, Barnes Noble has surely something to worry about. According to Mr Boire, CEO of Barnes Noble, there is lot of opportunity for the brand as everything that company does fits the brand. For its expansion, the stated company is probing for the ways to enhance the foot traffic and to initiate the sales (Best, Zeigler, Smith, Whitley Cornwell, 2010). For Barnes Noble, the main problems in its international strategy are the pressures on the bricks and mortar retail business, fierce competition from Amazon and others and lack of international foothold. With rivals like Amazon, Apple, Google, the completion for the companys device Nook is not getting easier. But the stated company could increase its international business. The management of Barnes and Noble have to make a difference abroad. The company have to be a content company and it would have to scale up across nations as it cannot rely on the physical locations. Barnes and Noble have to sell tons of Nooks in other countries and it has to be done quickly. Barnes Noble should also aggressively look for partners across the international markets. Another benefit for the company is its deal with Microsoft for its international expansion ("Barnes Noble, Inc.", 2014). The company also have opportunity from the falling of e-book sales and stability of print could reverse and help the customers to get back towards the brick and mortar bookstores. Business model Business model can be defined as the theoretical tool that contains set of substances, concepts and their dealings with the purpose to portray the commercial idea of a precise establishment. A business model can be referred as an effort by a firms organization to define the value that commerce could offer to one or more consumers or one or more marketplaces (Fehrman, 2015). It is also the explanation of a way in which a firm need to be considered to configure its resources to deliver its value. There are four main elements of a business model. These elements are described below: Figure 1: Elements of Business model Source: (Gorissen, Vrancken Manshoven, 2016) Customer Value Proposition This element is the means by which a business enterprise has achieved to arrange its capitals in order to offer values to its customers in a methodical and maintainable manner. This element usually includes the capability offer products and services which are either dissimilar due to innovation and vale addition and delivering it in a much lower costs than the rivals (Bilton Cummings, 2010). Barnes Noble could start the customer value preposition by dividing its customers into some logical elements which are based on the things such as level of expenditure per purchase, buying behaviour, and industry sector. Once Barnes Noble identifies its customers, the company would manage to learn on how to satisfy its all segments. Profit Formula Profit model is the second element of the business model. This element describes to the procedure utilised by a business firm that recognises how it will create or produce revenues for its shareholders while offering value to the customers at the same time. One of the important characteristics of profit formula is the revenue model (Fehrman, 2015). The revenue model defines what price an organisation should charge to a given quantity of sales for covering the overhead and fixed costs and to achieve the profit margins. Barnes Noble while considering its profit formula must recognise the revenue that could be produced for each of its product or market area and must also identify what fixed and variables cost it will incur while producing the sales. Resources The third division of a business model is related to the key possessions which are acquired by a business firm to deliver the customer value preposition. The resources mainly include the equipments, funding, people, services and amenities required to manufacture the products and to deliver the services. While recognising the resources, Barnes Noble must consider its core competencies and what alliances and partnership they should form. The stated firm must list all the services, aptitudes and resources that it needs to deliver its customer value preposition to the customers and the market sectors. Procedures The fourth element of a business model is related to the key procedures that a industry firm must follow to transport its customer value preposition. Such procedures need to be embedded in the firms administrative and operational systems. Barnes Noble in order to address the procedures in its operations must draw a list of the types of customer relationship it needs to develop with each target market segment. As for illustration, some customers of Barnes Noble may want to take a specific book on rent or some want an online version of a book. A survey of the key customers and their feedback will surely help the Barnes and Noble business strategy and will also help the company in finding the gaps and the steps to improve it. For Barnes Noble, the overall aim of the company will be to identify the target customers needs and then configuring the companys resources and procedures to offer its customer value preposition in a consistent and sustainable manner. Transformative business model In the success of a business, the core element in it is the effective matching of the novel technologies towards the need of the customers by a compelling commercial offering. People subordinate a business alteration through the acceptance of the new knowledge, but it surely doesnt transform an industry of its own. Transformative business model is about linking the new technology with the emerging needs of the market (Gorissen, Vrancken Manshoven, 2016). Just implementing the technology surely doesnt create success in Barnes Noble but depends on how the company executed it and linked it with the market trends. It is important to have to be meeting as these are non-static over time. Figure 2 Link between Technology and Market Source: (Kavadias Ladas, 2015) From the above diagram, it can clearly identify that the dynamics of biological fitness recognises the dynamics of business innovation. It happen when the unpredictable experiments around new technologies match the changing demands or requirements of the customers markets (Svensson Wagner, 2011). Thus the important features of transformational innovations happen over the industries as a result of broad technological trends. Here are the features that create a business model transformative: The Six keys to success: Personalised products or service There are many new models that propose products and services which are developed healthier than the customers individual needs and requirements. For gaining the competitive prices, organisations often influence technology (Gorissen, Vrancken Manshoven, 2016). Personalised products or service develops successful matching due to enhancement in the variations in the customers preferences. The amount of data collected through the emerging technological trends permits to customize the solutions to the need of a particular individual. As for illustration, the advertising made by Barnes Noble tries to grab the customers for their needs. Organisations could practise cost-effective one to one customers for the concept of personalisation as it quickly assimilating the online marketing mix. A closed loop process This feature is about the products that are made, used and then disposed of. This model replaces a linear consumption process which is used when the merchandises are recycled. This shift decreases the general resource costs (Gupta, 2004). The emerging prices of many commodity materials and its consequences effectuate an indirect constraint for the design and development of any new offering. The concept of a closed loop process is challenging the traditional model where the products were produced, consumed and then discarded. In the current business context, the procedure of recycling is something that benefits both organisation and customers. Asset Sharing Asset sharing is another feature in transformative business model which is driven by the rising costs of commodities and also of the transportation and labour costs with the effective utilisation of the assets (Gupta, 2004). These kind of innovations success as it enables companies like Barnes Noble to share the cost of costly assets. Barnes Noble could also divides the shares of costly assets with booksellers in the same way in which Uber shares assets with the car owners. With shared assets, there will be decrease in the total cost of ownership which is very significant during the rising cost of commodities. Usage based pricing There are many industries in which there are shared ownership and are accompanied by time or volume driven pricing agreements. Shared utilisation enhanced for such revenue generating mechanisms. This feature charge customers when they use the product or service rather than purchasing them (Kavadias Ladas, 2015). It is certain that there are books which are very costly; in that case, Barnes Noble could implement the strategy of charging customers according to the usage of books. Customers benefit from this approach as they incur costs which are only for generating value and company benefits as the customers number will surely grow. More collaborative ecosystem In the current business context, the importance of collaboration has enhanced. The emerging constraining landscape in respect to costs but also increase in the demand volume on global basis develops a complicated and uncertain value chains. When e-commerce re-shaped the industry, the barriers in entering in to a new market were very high (Kavadias Ladas, 2015). Barnes Noble was able to keep the new entrants out of competition with the help of aggressive price tactics and unbeatable inventory. The stated firm enhances its collaboration with its supply chain partners and helps to allocate the business risks. An agile and adaptive organisation New technologies permit access to a gathering of statistics that incline to be discrete among dissimilar stakeholders of an establishment. It is evident that innovators sometimes develop and use technology that move away from the traditional hierarchical models of decision making to make better conclusions which reflects the marketplace trends (Kavadias Ladas, 2015). Barnes Noble can reduce the product cycle by considering the purchasers feedback and that could be a successful innovation for the company. All these features stated above are knotted to long-term trends in both technology and request. Many companies are recognising the new decentralised forms of innovation in order to become more flexible and also to investigate the market potentials in the new product and services. The six keys of innovation advocate the six matching patterns between the trends in technology and market needs that occur with transformative business model. Conclusion It has been found in the study that business model can be labelled as the theoretical tool that contains set of substances, concepts and their relations with the objective to portray the commerce idea of a specific establishment. A business model can be referred as an attempt by a firms management to label the value that a trade could offer to one or more consumers or one or more marketplaces. The study identified that for Barnes Noble, the overall aim of the company will be to identify the target customers needs and then configuring the companys resources and procedures to offer its customer value preposition in a consistent and sustainable manner. References Barnes Noble, Inc. (2003). [London]. Barnes Noble, Inc. (2014). Retrieved from https://files.shareholder.com/downloads/BKS/0x0xS1193125-14-253539/890491/filing.pdf Best, S., Zeigler, J., Smith, C., Whitley, J., Cornwell, J. (2010). A Case Analysis of Barnes Noble. Retrieved from https://robertdaigle.com/wp-content/uploads/2011/08/BarnesAndNoble.pdf Bilton, C., Cummings, S. (2010). Creative strategy. Chichester: Wiley. Fehrman, N. (2015). Situational Analysis and Strategic Recommendation for Barnes and Noble. Retrieved from https://seelio.com/w/1e1d/situational-analysis-and-strategic-recommendation-for-barnes-and-noble Gorissen, L., Vrancken, K., Manshoven, S. (2016). Transition Thinking and Business Model Innovation Towards a Transformative Business Model and New Role for the Reuse Centers of Limburg, Belgium.Sustainability,8(2), 112. https://dx.doi.org/10.3390/su8020112 Gupta, V. (2004).Transformative organizations. New Delhi: Response Books. Kavadias, S., Ladas, K. (2015). Six degrees of innovation Predicting transformative businessmodels.How Innovation Transforms Business Models. Retrieved from https://www.business.att.com/content/article/cambridge-six-degrees-of-innovation.pdf Lindgren, P. (2012). Business Model Innovation Leadership: How Do SMEs Strategically Lead Business Model Innovation?.International Journal Of Business And Management,7(14). https://dx.doi.org/10.5539/ijbm.v7n14p53 Mick, D. (2012).Transformative consumer research for personal and collective well-being. New York: Routledge. Modi, T., Durkin, M., Kass, C., Ulin, M. (2017). Strategic Audit: Barnes Noble.Strategic And International Management. Retrieved from https://teknirvana.com/documents/BarnesAndNoble.pdf Phillips, H., Henry, A., Der Wal, C. (2007). STRATEGIC REPORT FOR Barnes Noble, Inc. Retrieved from https://economics-files.pomona.edu/jlikens/seniorseminars/gotham2007/reports/bn.pdf Svensson, G., Wagner, B. (2011).Sustainable Business Models. Bradford: Emerald Group Pub.

Abraham and Holocaust †Theology Essay

Abraham and Holocaust – Theology Essay Free Online Research Papers Abraham and Holocaust Theology Essay The Merriam-Webster Dictionary has three definitions for the term holocaust. The following are the definitions: â€Å"1) a sacrifice consumed by fire; 2) a thorough destruction involving extensive loss of life especially through fire; 3a) the mass slaughter of European civilians and especially Jews by the Nazis during World War II – usually used with the; and 3b) a mass slaughter of people.† The Merriam-Webster Dictionary definitions (1 and 2) are clearly the ones used in Genesis 22:2-8. The Douay Genesis translation includes a reference to the holocaust when God asked Abraham to sacrifice son. Genesis 22:2-8 states, â€Å"He said to him: Take thy only begotten son Isaac, whom thou lovest, and go into the land of vision; and there thou shalt offer him for an holocaust upon one of the mountains which I will shew thee. So Abraham rising up in the night, saddled his ass, and took with him two young men, and Isaac his son: and when he had cut wood for the holocaust, he went his way to the place which God had commanded him. And on the third day, lifting up his eyes, he saw the place afar off. And he said to his young men: Stay you here with the ass; I and the boy will go with speed as far as yonder, and after we have worshipped, will return to you. And he took the wood for the holocaust, and laid it upon Isaac his son; and he himself carried in his hands fire and a sword. And as they two went on together, Isaac said to his father: My father. And he answered: What wil t thou, son? Behold, saith he, fire and wood: where is the victim for the holocaust? And Abraham said: God will provide himself a victim for an holocaust, my son. So they went on together.† The meaning of the word holocaust is clearly stated by Douay in Genesis. In Genesis 22:2-8, the word holocaust is used to describe the sacrifice that God has asked Abraham to make for him. In Genesis 22:3, it describes where Abraham begins to cut up wood to be used for fire that he will need to carry through with the holocaust/sacrifice. In 22:7, Abraham is described as carrying fire in his hands to start the fire. The story also depicts that Isaac understands that there will be a sacrifice, but he does not know that he was chose by God to be the sacrifice. As listed in The Merriam-Webster Dictionary definition 3, â€Å"the Holocaust† is used to describe the killing of millions of Jews by the Nazis during World War II. It is used to describe the killing because the Jews were placed in oven like rooms and burned to death by the Nazis. The Nazis wanted to purify their country by killing all the Jews. As with the sacrifice of Isaac, many of the Jews did not know they would be burned to death. Sources: Merriam-Webster OnLine (m-w.com/cgi-bin/dictionary) Good News Bible – Genesis 22:2-8 holocaust-history.org/dachau-gas-chambers/ Research Papers on Abraham and Holocaust - Theology EssayThe Masque of the Red Death Room meaningsMind TravelCapital PunishmentWhere Wild and West MeetThe Effects of Illegal ImmigrationCanaanite Influence on the Early Israelite ReligionHarry Potter and the Deathly Hallows EssayPersonal Experience with Teen PregnancyAppeasement Policy Towards the Outbreak of World War 2Honest Iagos Truth through Deception

Just Uses for English Speakers

Just Uses for English Speakers The word just is an important word in English used in many different ways. Just can be used as a time expression, to say that something is important, to emphasize words, as a synonym for only, and in a number of fixed expressions. Use this guide to just to help you use this keyword in English correctly. Just - As a Time Expression Just = Recently Just is most often used to express that something has recently happened. Use just with the present perfect tense to indicate that an action has recently occurred and influences the present moment of speaking. Ive just been to the bank.Toms just arrived. You can speak to him now.Marys just finished the report. Exception: American English vs. British English In everyday conversation American English uses just with the past simple, as well as the present perfect, to express that something recently happened. In British English, the present perfect is used. American English He just finished lunch.ORHes just finished lunch. British English Janes just been to the bank.NOTJane just went to the bank. Just = Immediately Just can also be used as a time expression to mean that something important will happen immediately. In this case, use the present continuous tense or going to to express that something is about to happen. Hes just getting ready to go now.Im just going to finish this and then we can go. Just = Close to the Time Just is also used to express that something happened at approximately to the time mentioned in phrases such as: just after, just before, just when, just as. I saw Tom just as he was leaving yesterday.Jennifer finished the report just as the boss asked her for it.Just when you think youve seen everything, something like this happens! Just - as an Adverb Meaning Only Just is also used as an adverb meaning only, merely, simply, and so on. Dont worry about that cup, its just an old thing.She said she just needed some vacation time to relax.Richard is just the spokesman. Just - as an Adverb Meaning Exactly Just can also be used as an adverb meaning exactly or precisely. Thats just the information I need to understand the situation.Alexander is just the person for the job. Just - as an Adjective Meaning Honest Just is also used as an adjective to mean that someone is honest, or fair in his judgement. Hes a just man so you can expect to be treated well.You need to be just with all your students, not just the ones you like. Fixed Expressions With Just Just is also used in a number of idiomatic and fixed expressions. Here are some of the most common: Just in Time = Ready at the Exact Moment Necessary In the business world many products are made just in time. In other words, they are ready when a customer needs them and not before. Our supplier uses just in time manufacturing to fill our orders.Using a just in time approach reduces our warehousing costs by 60%. Just off the Boat = Naive, Not Experienced Someone who is just off the boat is new to a situation and doesnt understand certain unwritten rules, or ways of behavior. Give him some time to adjust to the new position. Remember hes just off the boat and will need some time to get up to speed.They seemed as if they were just off the boat because they couldnt understand what was being asked of them. Just the Ticket = Exactly What Is Needed Just is used like exactly when expressing something that is precisely what is needed in a situation. The two weeks off work was just the ticket. I feel like a new man.I think your ideas are just the ticket for our marketing campaign. Just What the Doctor Ordered = Exactly What Is Needed Just what the doctor ordered is another idiomatic expression that expresses the idea that something precisely what is needed in a situation. I think his solution was just what the doctor ordered.The grammar review was just what the doctor ordered for getting students ready.

Coursework fiction Essay Example | Topics and Well Written Essays - 500 words

Coursework fiction - Essay Example but to my surprise the article stated at the end that both of his parents died since he was two years old and after which his grandparents took care of him. I was very sad and badly bothered by that fact. My own beloved father died three years ago. What if my mom will leave me too? It was a frightening moment then. It was my first day in high school. I was enrolled in a Catholic institution. My mind was just centered on the idea that I have to be the top of our class. I didn’t mind about my physical appearance for unknown reasons. Some said I look weird but I did not care. My motto was, â€Å"Do your own business and I will do mine as long as you will not step on my inherent rights.† Surprisingly, things did not happen as I planned it to be. While I was eating in the school canteen, somebody sat beside me and asked if I could move a little. I knew she was a girl by the tone of her voice. When I saw her face, I couldn’t help but stare at her. She was very cute and pretty. The girl said, â€Å"Hello? Have you seen a ghost or something? Could you move a little please?† It was love at first sight in the very first day of school. From that moment, I was already conscious on my appearance. It was the first day then that I became interested with girls and discovered the life of a normal teenager in the land of United Kingdom. During that period, I realized how hard it was for the amputated boy to go to school. When I got home, my mom was surprised when I asked her to accompany me for shopping and grooming. I think she was curious enough to know that I liked someone in school. She suddenly asked me about my first day. The usual nod was replaced with a naughty answer, â€Å"Oh! It was great! Everyone seemed nice, friendly and accommodating. In other words, I like the school and the students.† My mom responded, â€Å"That’s good! I hope you made a good impression.† Then I replied, â€Å"Of course mom.† I was enlightened by that statement from my dearest mother.

Biography on Andrea del Verrocchio Essay Example | Topics and Well Written Essays - 1250 words

Biography on Andrea del Verrocchio - Essay Example However he won a place among the most competent and well known and excellent artists that seemed to be accepted and known as to be masters on their fields of works. He was young when he studied science and geometry. Be a goldsmith on his early years, he mastered the field over other older goldsmiths. In San Maria del Fiore at Florence, he worked for a cup which was very well-known to all goldsmiths. The cup’s body was designed by abstract shapes, and images of leaves and animals. In 1477, Verrocchio was known to all through his merits and reputation. He was then employed to work for the altar of S. Giovanni. He was asked by the art of merchants to do silver works for the altar. Thereafter, he acquired much appreciation and reputation. Meanwhile, at Rome, the Pope’s chapel’s silverworks were destroyed and they do not have yet those large apostles on around the altar of the chapel until Verrocchio was sent for them by Pope Sixtus to work on the silverworks for the Pope’s chapel. Verrocchio was an excellent goldsmith and he has done several well-known silverworks that were used by influential people on his time. However, Verrocchio decided to leave his being a goldsmith to try sculpture when he saw ancient statues that were sculptured excellently at Rome. One of such was place by the Pope at Lateran, the famous bronze horse. Accordingly, he abandoned his being a goldsmith. He left his silverworks and then he took up sculpture and began by carving little bronze figures and began casting little bronze figures. His trial being a sculpture immerged to excellence when his bronze-works were admired by fellow sculptures and several people in Rome. Verrocchio was encouraged by this; he then decided to work figures out of marble. His very first work using marble was done for a sarcophagus of a rich man’s wife. The rich man found the tomb excellent and considerable; the rich man was then encouraged by influential people to place his wifeâ €™s tomb in the open space of Minerva. Upon his return to Florence, he brought with him his earned money, fame and honor. He was inspired by the admiration and much appreciation by the people for his works. Thereafter, he did some marble-works for Madonna in S. Croce. It was then placed above the tomb of M. Leonardo Bruni' of Arezzo. Verrocchio also did metal replicas of the heads of Alexander the Great and of King Darius. The heads were like a fancy head whose character was emphasized though crests and armor design. The metal heads, admired by Lorenzo de' Medici, was later sent to the king of Hungary, Matthias Corvinus.  Verrocchio, having earned a reputation and much admiration as an excellent master on different fields, made the tomb of Giovanni and Piero di Cosimo de' Medici in San Lorenzo. As years passed, Verrocchio realized that he could not be higher than what he has in his sculptures and his previous works; though he was admired, his thirst for much appreciation and r eputation prevails. He was thinking that he has not excelled because of some comparisons among the accepted masters and other rivalries among his fellow sculptures. By this, he turned his time and eager attention to painting. To start with his painting, Verrocchio did some sketches of a battle of nude figures which he later plans to do in a wall but with colors. He also made some cartoon characters, and made some pictures as model. At Venice, Verrocchio made

The Obstacles and Hardships while Building the Transcontinental Term Paper

The Obstacles and Hardships while Building the Transcontinental Railroad - Term Paper Example This railway line was referred to as Overland Route (Burger 126). The China immigrant, Celestials, constructed the Central Pacific line. They were perceived weak to work in this line, but they proved that they could work perfectly in the railroad construction. They were employed to work in the construction of the Central Pacific line. Most of the Chinese were miners, or worked in kitchens and did laundries in service industries; others were imported in large numbers from China. The Chinese laborers went on strike because the three dollars a day wage was too little compared to the work that was being done on the railway (Uschan 241). The Irish laborers and the veterans of the Confederate armies and Unions built the Union pacific line. Brigham Young who was the President of the Church of Jesus Christ of Saints yearned that the railway to be completed so that it could promote immigration and promote the growth of population in Salt Lake City, Utah and Ogden. Brigham and the Union Pacific made a labor contact that saw the Mormons have the sole responsibility of building the Union Pacific rail in Utah. They were also allowed to blast and tunnel across the canyon in Weber River (Cooper). The construction work of the transcontinental railway was manually done using black powder, used as explosives, horses, wheelbarrows that were used to ferry materials for construction, shovels, axes and mules. The construction work involved operations like tunneling, building bridges, engineering, masonry, surveying, blacksmithing, track laying, telegraphing and cooking. After completing the work, some Chinese went back to China; others settled in Western nations and got occupations as laundrymen, miners and restaurateurs. The Chinese that opted to settle in the States got land and settled along the Pacific Coast and San Francisco Bay (Cooper). The transcontinental railroad was completed in

Demand For Electricity

Demand For Electricity INTRODUCTION If future demand for electricity is to be matched by adequate supply, then it is essential that models are built for estimating accurately, what the future demand for electricity is likely to be. In order to accomplish this, it is necessary that the factors affecting electricity demand are clearly indentified and quantified. It is even more crucial in the case of energy industries because, future energy demand requires investment spending today (due to their huge capital investment requirement and long lead time).[1] In other words, if a country should underestimate its future electricity demand, then it would most likely not make adequate capital investment in the present time which would then result in a shortage of electricity supply (when compared to demand) in the future. One of the most influential factors affecting the demand for electricity is the price of electricity.[2] The price of electricity has since been incorporated into the majority of electricity demand models.[3] This paper tries to examine the effects of the price of electricity in the UK on its own electricity demand. The focus here is to determine the price elasticity of demand for the period 1980-2008 (annual time series data) by the use of a loglinear regression model. The research paper will take the following format. Chapter one is the introduction, chapter two will be the literature review, chapter three will focus on the modelling approach and data analysis and chapter four will be the conclusion and findings. LITERATURE REVIEW Price Elasticity According to economic theory there is an inverse relationship between the price of energy and the quantity of energy demanded. As energy prices rise the quantity of energy demanded falls and vice versa. Given that all other factors are held constant[4]. Economic theory further postulates that the demand for energy is not as responsive to the changes in energy prices as compared to other commodities that are more responsive to their individual prices[5]. Economists define price elasticity as consumers sensitivity to price changes or the degree of responsiveness of changes in quantity demanded to changes in prices and is given by the formula below as: Since price elasticity is the ratio of two percentages, we therefore do not express it in any unit. Price elasticities are usually negative this is due to the inverse relationship between demand and price. Demand elasticities are mainly of two types which are; elastic and inelastic. If the values of elasticity of demand fall within the absolute values of 0 to 1 then demand is said to be inelastic and this can be interpreted thus as a change in price results in a less than proportionate change in quantity demanded. On the other hand if the values of elasticity of demand equals to the absolute value of one or above one, then demand is said to be elastic. In the case where elasticity of demand is equal to the absolute value of 1, it is interpreted as; a change in price leads to a proportionate change in quantity demanded. If the elasticity of demand is greater than the absolute value of 1 then it is interpreted thus as: a change in price results in a more than a proportionate change in quantity demanded. For example in the inelastic range, if price increases by 10 percent on a commodity with a price elasticity of -0.3 then the demand for the good falls by only 3 percent. However, in the case of the elastic range, a commodity with an elasticity of -2.0 would face a fall in demand of 20 percent, if price was to increase by 10 percent. This relationship can be further illustrated in the figure below. Figure 1: Relationship of supply and demand with two demand curves Figure 1 shows a supply curve (S1) and two demand curves which have different elasticities of demand (D1 and D1). D1 is more elastic than D1 (i.e. less steeper). At equilibrium, the supply curve S1, with both demand curves D1 and D1, have a common equilibrium price and quantity at P1 and Q1.Now, let us now assume that the supply curve shifts to the left due to say an increase in the cost of production (i.e. the price of coal used to generate electricity). Then, the new equilibrium point will depend on the nature of the demand curve that is used as shown in figure 2. If the demand curve is relatively elastic at (D1), then prices will rise and demand will fall by a much larger amount when compared to the more inelastic demand curve (D1). Note here that with the inelastic demand curve, the price and quantity demanded (P2 and Q2) are much larger than in the case of a more elastic demand curve at (P2 and Q2). In reality this can be explained by the fact that, if the demand for a commodity is inelastic then, any increase in costs (for example generation costs as mentioned above) can easily be passed on to the consumers without much reduction in supply, hence the larger price. On the other hand if the demand for the commodity were to be elastic then only a much smaller portion of the cost increase would be passed on to the consumer. Figure 2: Shows the effects of a shift in the Supply Curve We can also see the effects of a shift in the demand curve on price and quantity. If we assume that demand curves were to shift outward to the right (i.e. increases) from (D1 to D2) and (D1 to D2) while supply is held constant then with a more elastic demand curve the equilibrium price and quantity (P2 and Q2) would be much lower than if demand were to be inelastic (i.e. P2 and Q2). Figure 3: Effects of a shift in the Demand Curve From the three above illustrations it is quite clear that the resulting impact of changes in supply or demand on equilibrium price and quantity will vary in accordance to the nature of product elasticity. Price elasticities can be used to show how consumer demand responds to changes in price as well as the ease at which individuals can switch over to a substitute, when commodity prices go up. A consumer who has a fixed income has three options of responding to price changes in the short term; (a the consumer can switch over to a substitute; b) they can purchase less of the commodity without any additional purchase of a substitute; or (c he or she can still buy the same quantity of good while reducing his or her consumption of other commodities that make up their total expenditure. In the case of electricity the degree at which it can be substituted is very limited. Electricity can be used mainly for heating, lightening or a wide range of electric appliances such as (computers, television sets, printers, irons etc.). In the case of heating, a consumer may substitute the use of electricity for natural gas (and in the case of less developed countries may even substitute it for it for kerosene or firewood). However, the consumer also has the option of switching over to an appliance that uses a more energy conserving source. For end uses such as power supply for television sets, electricity has no substitutes. The consumer also has the option of purchasing a more efficient television set and maintaining the same level of service while using less electricity. Replacing appliances such as television sets may involve the change of a relatively expensive appliance and as such would take some time to do so. Since, this will involve a first initial capital outlay which i n turn depends on the income of the consumer, frequency of wage payment and payment of bills schedules etc. The time period required by consumers to substitute a relatively expensive appliance in response to higher energy prices is usually referred to as the long-run adjustment time period. On this the basis of this analysis, it is expected that the price elasticity of demand is usually inelastic in the short run and more elastic in the long run. This is because in the short run the consumers options of responding to higher electricity prices are limited i.e. he is restricted to reactions such as, reducing his or her level of appliance utilisation (for example running the heater for lesser hours of the day) or reducing his expenditure on other commodities to maintain the same level of electricity consumption. In the long run however, his options of responding to high energy prices are increased compared to the options he had in the short run. In the long run the consumer can fully respond to price changes by the purchase of appliances that are more efficient and/or the purchase of appliances that use a cheaper energy source. That is why in the long run elasticities tend toward a more elastic range than in the short run. Earlier Literature on Price Elasticity of Electricity Demand Earlier literature on electricity demand has revealed that the price elasticity of demand for electricity is relatively inelastic in the short run and tend to be relatively more elastic in the long run. The previous works written on price elasticity of demand are far too much to be fully discussed in this research. Therefore we shall focus on only the summary of a few. Taylor (1975) wrote one of the first literatures on electricity demand surveys. After carrying out reviews on various existing studies of commercial, industrial and residential electricity demand, he reported the following: (a in the case of residential demand for electricity, short term price elasticity ranged from -0.13 to -0.90 while long run price elasticities ranged from near 0 to -2.0. In the case of commercial demand, price elasticities were valued at -0.17 for the short run and -1.36 for the long run[7]. Boone kamp (2007) using the bottom up model on an annual data series for the period 1990-2000 reported that the household long term price elasticity ranged from -0.09 to 0.13[8]. Pouris (1987) conducted an analysis for the elasticity of demand for electricity for South Africa using data for the period (1950-1983) and determined that the long term price elasticity of electricity demand for the period was -0.90.[9] Bjoner and Jensen (2002) using a loglinear fixed effects model on panel data for the period of (1983-1996) discovered that short term price elasticity to be -0.479.[10] Filippini and Pachuari (2002) using a loglinear model on a monthly household panel data series discovered that the household short term price elasticity for electricity ranged from -0.16 to 0.39.[11] Zimmerman and Bohi (1984) carried out a detailed review of existing studies of energy demand. They reported that general consensus figures for residential price elasticity of electricity were -0.2 in the short run and -0.7 in the long run. The range of estimates in commercial electricity was too volatile to provide any consensus on values.[12] Al Faris (2002) used an error correction model to estimate short term price elasticity for UAE, Kuwait, Oman, Qatar and Bahrain to range from-0.04 to- 0.18.[13] The analysis carried out was based on an annual time series data for the period 1970-1997. Garcia Cerruti (2000) calculated the price elasticity for residential demand for electricity in California to have an estimated mean value of -0.17.[14] In summary, earlier literature show that price elasticity of electricity demand are normally inelastic in the short run and tends to be more elastic in the long run. However, on the whole price elasticity of electricity demand are usually inelastic (i.e. the absolute value of the co-efficient of price elasticity is usually below 1). MODELLING APPROACH AND DATA ANALYSIS According to Lin (2003)[15] he identified that there were three major factors affecting the demand for electricity in any country which were, electricity prices (tariff), GDP (Gross Domestic Product) and population. He went further to say that there were other factors as well contributing to the price of electricity which varied with different countries. Such factors includes nature of weather (i.e. people tend to use more electricity for heating purposes during cold seasons than in hot seasons) and changes in the structure of the economy. Pouris (1987)[16] identified the two major factors affecting the demand for electricity as price and GDP. Using the common independent variables identified by both Lin and Pouris, we have the following model; Log EDt = a + b1LogPEt + b2 LogYt + µEquation Where: EDt = Total electricity demand in period in a given year (Gwh) PEt = Average price of electricity in constant terms for a given year ( £/Kwh) Yt = GDP of country for period t in constant Billion Pounds a = Constant b1 =Price elasticity of electricity demand b2 =Income elasticity of electricity demand  µ= Disturbance term (represents all other factors affecting the demand for electricity) We use the log functional form because it enables us easily determine the price elasticity for electricity demand which is the regression coefficient of price. The price elasticity of demand for electricity is also assumed to be constant.[17] The data used for the period is in constant terms and aggregated at the national level. We express our data in constant terms because we would like to take out the effects of inflation. The data used is aggregated at a national level because it tends to provide a more stable relationship between independent and dependent variables. Pouris (1987)[18] cited Ehrenbergs (1975)[19] work in which he (Ehrenberg) argued that the advances in physical sciences are to a great extent due to the fact that simple relationships (laws) are achievable because they usually account for the collective behaviour of million entities. Pouris (1987) then argued further that, the success of finding laws in social sciences would be in likely areas where behaviour of large individuals or objects can be aggregated. From the above table we can see that the price elasticity of demand for electricity (for the UK) is approximately -0.15 which agrees with economic theory that; (a elasticities of demand are inversely related to price as shown by the negative coefficient of price elasticity and (b price elasticity of demand for electricity tends to be inelastic i.e. having an absolute value below one. Also we do not reject the result due to the high R2 = 0.9688 (co-efficient of determination) and the fact that the result is statistically significant i.e. the absolute t values for real GDP and real electricity prices are above 2. While their (real GDP and real electricity prices) P values are below 5%. The table below shows the data (for U.K.) used in carrying out the regression analysis. The demand for electricity data and average electricity prices were sourced from the Economic and Social Data Services (ESDS) website. While the Real GDP and Consumer prices were obtained from the International Monetary Fund (IMF) website CONCLUSION/FINDINGS The price elasticity of electricity demand for the period (2008-2020) is about -0.15, which is consistent with economic theory that the co-efficient of price elasticities tend to have negative values and that the price elasticities for electricity tend to be inelastic. If we assume that the price elasticity for all organization and individuals in the U.K. lies close to this value (-0.15) and is constant through out time, then such information could have various implications for the economy. Firstly, an inelastic demand for electricity, would mean that there would be little or no government intervention required on the supply side (existing producers and suppliers) to ensure that producers and suppliers of electricity are able to breakeven (recover costs from generated revenue). This is because an inelastic demand for electricity (with respect to price) would mean that whenever there is an increase in demand and producers have to increase their supply in order to match the rising demand, the costs associated with increasing supply can easily be passed on to the consumer. As such, the government could be able to focus on other activities such as the provision and maintenance of public roads, hospital, and schools. Secondly, it would enable the government easily achieve renewable energy targets set in the power generating sector, due to the fact that the potential increases in costs arising from setting renewable energy targets can easily be transferred to the consumer (due to inelastic nature of electricity demand). The government should however ensure that the targets are set in a fair main manner such that the impact of the targets are felt by all power generators in a similar way and that no undue advantage is given to any one single producer due to the implementation of such targets. Furthermore the government should ensure that the targets are set in such a way that it does not increase tariffs too much so that consumers cannot easily afford their bills. Which in turn would then reduce demand drastically (since the consumers in the short run have the option of turning of their appliances) and hence, adversely affect supply as producers may not be able to recover all their fixed cost. If t his effect (rising prices drastically affecting demand) is unavoidable then the government should adopt policies that could assist in improving the disposable income of its citizens. BIBLIOGRAPHY PRIMARY SOURCES SECONDARY SOURCES Books Articles Bin Lin Q. (2003) Electricity Demand in the Peoples Republic of China: Investment Requirement and Environmental Impact at, www.adb.org/Documents/ERD/Working_Papers/wp037.pdf (Last Visited on 26th of April 2010) Mark A. Bernstein and James Griffin (2005) page 2: Regional Differences in the Price-Elasticity of Demand for Energy Pittsburgh U.S.A.: Rand Corporation Mark Lijesen G. The Real-Time Price Elasticity of Electricity in Science Direct Energy Economics 29 (2007) 251 Elsevier at, www.wlsevier.com/locate/eneco (Last Visited on 26th of April 2010) Pindyck 1979, The Characteristics of Energy Demand, in Energy Conservation and Public Policy , (Ed.)J. Sawhill Prentice Hall, Englewood Cliffs, NJ. Pouris A. (1987) The Price Elasticity of Electricity Demand in South Africa at, http://www.informaworld.com/smpp/content~db=all~content=a739318120 (Last Visited April 2010) Others Bohi, D. (1981) Analysing Demand Behavior A Study of Energy Elasticities, John Hopkins University Press for the Future Inc., Baltimore Ehrenberg A. (1975) Data Reduction: Analysing and Interpreting Statistical Data, Wiley-Interscience, London. Kotze, D. and Cooper, C. (1985) Energy Projections for South Africa, Institute of Energy Studies, Rand Afrikaans University, RSA. Venter, G and Basson, J. (1986) Quo-Vadis, National Non-Nuclear Energy Research in South Africa, Paper Presented in the South African National Committee of World Energy Conference, CSIR Pretoria 9-10, June. Lead Time and Costs EIA/DOE Electricity Market Model (2010) at, www.eia.doe.gov/oiaf/aeo/assumption/pdf/electricity.pdf (Last Visited April 2010) Subhes B. and Andon B. (unpublished): Domestic Demand for Petroleum Products in MENA countries at, http://www.dundee.ac.uk/cepmlp/gateway/index.php?category=13 (Last Visited on 26th April 2010) Website Economics and Social Data Services website at, http://www.esds.ac.uk/ (Last Visited on 26th April 2010) International Monetary Fund Website at, http://www.imf.org/external/index.htm (Last Visited on 26th April 2010) For Details of Lead Time and Costs see EIA/DOE Electricity Market Model (2010) at, www.eia.doe.gov/oiaf/aeo/assumption/pdf/electricity.pdf (Last Visited April 2010) Pindyck 1979, The Characteristics of Energy Demand, in Energy Conservation and Public Policy , (Ed.)J. Sawhill Prentice Hall, Englewood Cliffs, NJ. Pouris A. (1987) The Price Elasticity of Electricity Demand in South Africa at, http://www.informaworld.com/smpp/content~db=all~content=a739318120 (Last Visited April 2010) Mark A. Bernstein and James Griffin (2005) page 2: Regional Differences in the Price-Elasticity of Demand for Energy Pittsburgh U.S.A.: Rand Corporation ID Note 4 Supra Note 4 Supra Note 4 Mark Lijesen G. The Real-Time Price Elasticity of Electricity in Science Direct Energy Economics 29 (2007) 251 Elsevier at, www.wlsevier.com/locate/eneco (Last Visited on 26th of April 2010) Supra Note 3 page 1 Supra Note 8 page 251 Supra Note 8 page 251 Supra Note 4 page 13 Supra Note 8 page 251 Supra Note Bin Lin Q. (2003) Electricity Demand in the Peoples Republic of China: Investment Requirement and Environmental Impact page 5-6 at www.adb.org/Documents/ERD/Working_Papers/wp037.pdf (Last Visited on 26th of April 2010) Supra Note 3 Subhes B. and Andon B. (unpublished): Domestic Demand for Petroleum Products in MENA countries page 10-11,at, http://www.dundee.ac.uk/cepmlp/gateway/index.php?category=13 (Last Visited on 26th April 2010) Supra Note 3 page 1271 ID note 18

Costs of Childhood Cancer Treatment and Research Essay example -- Heal

Cancer, one of the most feared words in our vocabulary of this time, especially in childhood (Druker 1). Most people when thinking of â€Å"childhood cancer† envision very young children, although a â€Å"Nation Institute of Health Policy concerning inclusion of children in clinical research defines children as being younger than twenty-one years of age while the Food and Drug Administration considers children to be fifteen years and younger† (Ries 158). That being said, most cancers incidence peak among children occurs during the first year of life (Gurney 149). Some of the most well-known nationwide childhood cancers are leukemia, brain cancer, and other central nervous system cancers (oeconline 1). In conjunction, â€Å"the side effects of treatment, which range from heart disease to brain damage, can linger for decades and cost nearly as much as therapy for the original cancer† (USATODAY 1). With the total cost of childhood cancer exceeding many peopleâ€℠¢s yearly salary, help and support are the main focus for many childhood cancer advocacies (disease.com 1). Therefore, increasing awareness is the first step to raising more advocacy and support for childhood cancer programs and research (StJude.org 2). Childhood cancer treatment is an excessively pricey dilemma. It ranges from the cost per child to the overall cost. For example, â€Å"a new leukemia medication for children who no longer benefit from chemotherapy, costs $45,000 for a three week treatment cycle† (USATODAY 1). With the average time span of cancer treatment ranging from three months to roughly three years the price can climb to multiple figures (compasscare 1). The median cost per day for one child in a pediatric hospital for cancer treatment is nearly $1,000 more than the average... ...ng diagnosed with cancer as a whole. As a refuge for many families, St. Jude’s Children’s Research Hospital takes responsibility for all expenses dealing with immediate medical care that insurance does not cover. As well as immediate medical care coverage, St. Jude’s also distributes other attributes to the family in need, such as housing and payment for outpatient expenses. Since St. Jude’s is run by the donations of donors from around the world, although mostly from around the country, it is vital for the survival and future cure for childhood cancers that we as a nation continue to fuel St. Jude’s Children’s Research Hospital to prosper and thrive. In conclusion, childhood cancer treatment and research is extremely important for the future survival of thousands of childhood lives. Every cent matters when it comes to saving the lives of our future generations. Costs of Childhood Cancer Treatment and Research Essay example -- Heal Cancer, one of the most feared words in our vocabulary of this time, especially in childhood (Druker 1). Most people when thinking of â€Å"childhood cancer† envision very young children, although a â€Å"Nation Institute of Health Policy concerning inclusion of children in clinical research defines children as being younger than twenty-one years of age while the Food and Drug Administration considers children to be fifteen years and younger† (Ries 158). That being said, most cancers incidence peak among children occurs during the first year of life (Gurney 149). Some of the most well-known nationwide childhood cancers are leukemia, brain cancer, and other central nervous system cancers (oeconline 1). In conjunction, â€Å"the side effects of treatment, which range from heart disease to brain damage, can linger for decades and cost nearly as much as therapy for the original cancer† (USATODAY 1). With the total cost of childhood cancer exceeding many peopleâ€℠¢s yearly salary, help and support are the main focus for many childhood cancer advocacies (disease.com 1). Therefore, increasing awareness is the first step to raising more advocacy and support for childhood cancer programs and research (StJude.org 2). Childhood cancer treatment is an excessively pricey dilemma. It ranges from the cost per child to the overall cost. For example, â€Å"a new leukemia medication for children who no longer benefit from chemotherapy, costs $45,000 for a three week treatment cycle† (USATODAY 1). With the average time span of cancer treatment ranging from three months to roughly three years the price can climb to multiple figures (compasscare 1). The median cost per day for one child in a pediatric hospital for cancer treatment is nearly $1,000 more than the average... ...ng diagnosed with cancer as a whole. As a refuge for many families, St. Jude’s Children’s Research Hospital takes responsibility for all expenses dealing with immediate medical care that insurance does not cover. As well as immediate medical care coverage, St. Jude’s also distributes other attributes to the family in need, such as housing and payment for outpatient expenses. Since St. Jude’s is run by the donations of donors from around the world, although mostly from around the country, it is vital for the survival and future cure for childhood cancers that we as a nation continue to fuel St. Jude’s Children’s Research Hospital to prosper and thrive. In conclusion, childhood cancer treatment and research is extremely important for the future survival of thousands of childhood lives. Every cent matters when it comes to saving the lives of our future generations.