Profit Maximisation Model Essay Example

Profit Maximisation Model Essay Profit Maximization model helps to predict the price-output behavior of a firm under changing market conditions like tax rates, wages and salaries, bonus, the degree of availability of resources, technology, fashions, tastes and preferences of consumers etc. It is a very simple and unambiguous model. It is the single most ideal model that can explain the normal behavior of a firm. It is often argued that no other alternative hypothesis can explain and predict the behavior of business firms better than profit-maximization hypothesis.This model gives a proper insight in to the working behavior of a firm. There are well developed mathematical models to explain this hypothesis in a systematic and scientific manner. Profit-maximization implies earning highest possible amount of profits during a given period of time. A firm has to generate largest amount of profits by building optimum productive capacity both in the short run and long run depending upon various internal and external factor s and forces.There should be proper balance between short run and long run objectives. In the short run a firm is able to make only slight or minor adjustments in the production process as well as in business conditions. The plant capacity in the short run is fixed and as such, it can increase its production and sales by intensive utilization of existing plants and machineries, having over time work for the existing staff etc. Thus, in the short run, a firm has its own technical and managerial constraints.But in the long run, as there is plenty of time at the disposal of a firm, it can expand and add to the existing capacities, build up new plants, employ additional workers etc to meet the rising demand in the market. Thus, in the long run, a firm will have adequate time and ample opportunity to make all kinds of adjustments and readjustments in production process and in its marketing strategies. It is to be noted with great care that a firm has to maximize its profits after taking in to consideration of various factors in to account.They are as follows: 1. Pricing and business strategies of rival firms and its impact on the working of the given firm. 2. Aggressive sales promotion policies adopted by rival firms in the market. 3. Without inducing the workers to demand higher wages and salaries leading to rise in operation costs. 4. Without inducing the workers to demand higher wages and salaries government controls and takeovers. 5. Maintaining the quality of the product and services to the customers. 6.Taking various kings of risks and uncertainties in the changing business environment. 7. Adopting a stable business policy. 8. Avoiding any sort of clash between short run and long run profits in the business policy and maintaining proper balance between them. 9. Maintaining its reputation, name, fame and image in the market. 10. Profit maximization is necessary in both perfect and imperfect markets. In a perfect market, a firm is a price-taker and under imperf ect market it becomes a price-searcher.

Moses, Jesus and Muhammad Essays

Moses, Jesus and Muhammad Essays Moses, Jesus and Muhammad Essay Moses, Jesus and Muhammad Essay Moses, Jesus, and Muhammad are today considered as three of the greatest prophets in the world. They portrayed themselves as religious figures as well as the messengers of god. There teachings are believed by many people and they have many followers. While Moses and Muhammad are projected as the prophets, Jesus is considered to be the son of god. They established a monotheistic belief and believed that they were the only god and there is only one god to follow. It was thought that both Jesus and Muhammad were the messengers from god carrying the same message. However, people believed in the experience and the influence of each, which led to the formation of two different religions. While Moses was called the founder of the religion of Israel. Moses became the leader of the Israelites after leading them out of slavery from Egypt. He was believed as the â€Å"servant of god† by his followers. While leading them out of Egypt on the way to Mount Sinai, Moses was given a set of rules by god, called The Ten Commandments to give to his people. The Ten Commandments stated the 10 rules that would guide people to be good. The rules included something like one most not steal, lie, commit adultery or do anything that would harm others. The meaning of the Ten Commandments was to spread love among people and lead them to live their life in a correct way. Moses was appointed as a prophet by god. There were three incidents that are mentioned in Torah that led god appoint Moses as a prophet. As a young kid, Moses sees an Egyptian man beating up a Jewish slave, who led him to kill the Egyptian and the next day he is trying to make peace between the two Hebrews. These were the three qualifications in god’s eye which made him appoint him as a prophet. Jesus was believed as a son of the god by many people. His teachings showed people how to be a good person in their life; he showed people how they should love each other and should have no hatred among them; how they should respect and treat others. He showed people the meaning of love and thought them how to love and care. He started to have many followers and his followers became to be known as Christians and they believed that this Jesus was the son of God. They believed he was the son of the god because of his three basic miracles and they were: healing the sick; multiplies the food and raises the dead. His disciples were told to go and preach in different towns and cure the people by miracles to prove them that there is a god and they are their disciples. Jesus too believed in The Ten Commandments and these Ten Commandments have shaped up as laws of today’s society because they are very precisely defined by Jesus. People visit to churches where his teachings are preached which lets people believe that the god existed. The Ten Commandments has helped people realize how good of a person they are and have made them realize their crimes. The followers of these commandments will get salvation. The idea that Jesus serves today is that he wants all his followers to love him more than he does his parents or daughter and son. He wants people to praise him and spend time for him. Another thing Jesus wants people to believe is the life after death. Jesus describes that when a spirit of a man who is unclean will wander around looking for a place to live which he never finds it and ends up in a place with several other spirits which are worse than him. Muhammad was the founder of the Islamic religion and was believed as the last prophet of god. The word Islam comes from an Arabic word meaning peace, giving in, and respect. Mohammed’s teachings and his experiences influenced people to follow him, and his followers became known as Muslims. Mohammed was not a creator of the Islam religion; he was just a restorer of the monotheistic faith. He is believed as the last and the greatest prophets. Today Muslims in the world follow his ways, traditions, and custom. He started to preach at the age or 40 in the month of Ramadan when he first received a message from god. He then revealed the messaged and stared preaching it publicly. His preaching’s are still playing a major role today where people have surrendered their lives to god and are following the five Pillars. Just like there are Ten Commandments in the Christianity there are Five Pillars in Islam. The Five pillars are the five basic rules in Islam that everyone must follow. His followers are to follow the 5 pillars all the time in their life. They have pray 5 times a day, they all have faith, give alms, fast during the month of Ramadan and have to visit Hadj once in their life. The women in Islamic religion have to follow and obey more rules than men. Islamic women should not show their face in public, they are only allowed to show their face to their husband only. They cover their face also for a religious purpose. Even in Hinduism when a woman visits to temple their head must be covered in order to give respect to their God. In Muslim countries there are specific times that are set for people to leave their work and pray five times in a day. In my opinion I think it is a great rule that is set because it than ecomes mandatory for everyone to pray and increases faith in people. A Muslim is the one who believes in god and does his best to live a life like Muhammad and lives according to the principles of Muhammad. To live a life of Muhammad is like living a perfect life. These were the three great prophets in the world and their teachings are being thought in many different places. Their teachings and their experiences are being thought throughout the world which is influencing more and more people. Each religion has different way of teaching but they all serve the same meaning of living a perfect life.

Value based purchasing Essay Example | Topics and Well Written Essays - 500 words

Value based purchasing - Essay Example This situation where we need to provoke health care employees to serve clients should change and they should voluntarily provide best care to their clients. Here, we intend to prove that, value added purchasing need to be eliminated as this destroys the commitment and voluntary assisting nature of health care employees. Logically, it is arguable that, the idea of permitting bonus to the health care employees to provide quality health care is non beneficial for the employers of health care industry. As pr (Porter)â€Å"Value based purchasing is, however, a critical external motivator in establishing a business case for why providers of care should embrace, leads, and implements the reengineering of healthcare delivery†. From a logos concept, health care professionals need to be concentrating solely on the idea of providing the best health care treatment to their clients as it is the ethical law of their duty When it comes to ethos, the focus is on the policies and statutory laws of the health care professional and industry. A health care provider, especially the nurses, by the nature of their professional law is liable to perform quality service as they work on ethics and moral standards. As per (Butt) â€Å"Historically, a primary value consideration in nursing ethics has been the determination of the focus of the nurses’ work†. On the other hand, the pathos concentrates on the emotional background, where the health care professional needs to understand the pain and suffering undergone by their clients and serve them with utmost care. The allotment of bonus to the health care professional is in real sense, blocking the development of their commitment to the job. Ultimately there is no need of a plan for quality service by health care professional as the job by its nature itself demands high quality. Today health care industry is a wide spread business, where the employers attempt to earn profit in a short cut manner. According to (Mathews)â€Å"Hospitals are

Strategic Marketing Research Paper Example | Topics and Well Written Essays - 2000 words

Strategic Marketing - Research Paper Example The analysis of the competitive environment of Skoda shows that, there is a very high threat of new entrants. The major competitors in the Super mini segment in the UK car industry in recent times are Corsa, Fiesta, Clio, 206 and Punto. Among the main competitors the inter-firm rivalry is very high. High competition gives rise to stiff rivalry. In this situation if we analyze the strengths of Skoda cars, we can know that the company has a very strong brand image. The brand image is created through its strong reliability and quality and good performance statistics. The strong brand image has resulted in increasing market share and profits. The following graph shows the growth in the market share of Skoda cars: The strong market position has resulted in a very low threat of substitutes. The image of Skoda cars has taken a drastic change, from a very dull model to a sexy car. Hence, this has made the bargaining power of the consumers very low. The strong product features combined with the effective advertising strategy has made the consumers turn their focus away from the price tag. The distribution network of the company is very strong because of strategic alliances and partnerships with dealers and suppliers. The strong market position has brought down the bargaining power of the suppliers and the company has benefitted by consolidating its supply chain which is very essential in maintaining the quality of the product. It is obvious that in any ... If the customer likes a product/ service, then the company starts to grow and its relative strengths also tend to increase and the company strives to serve the customer better and this becomes a cycle. In case of Skoda cars, the same argument holds good. The quality of the car speaks high about the company which is obvious in its financial results and this has increased its bargaining power of the company with its suppliers. Also the preference of the consumers towards the car has increased which has further increased its bargaining power with the consumers. But the point that has to be taken into consideration is that, there is a very high level of rivalry among the existing firms and also there is a high threat of new competition. The five forces suggested by Porter has to be combined with SWOT analysis, to adopt differentiation as its main strategy to stay ahead of competitors. The differentiation now planned by the company is regarding the research and development. Skoda has abou t 1300 engineers dedicated to develop new trendy designs taking into consideration the nature of Asian and Eastern Europe. In future the company has to focus on its strength of design and performance to have competitive advantage. Also it has to analyze the strengths and weaknesses of its competitors and has to combine with its own strengths to develop a differentiation strategy. COMPANY'S RESOURCES The analysis of the current resources of the company to develop a sustainable competitive strategy is very essential. The following are some of the resources that the company has which can be used to develop a strategy to maintain a sustainable competitive advantage: The company has a very long history of developing fine designs. Its

Summary of recent PCAOB actions that impact an audit, its auditors and Research Paper

Summary of recent PCAOB actions that impact an audit, its auditors and its audit committee - Research Paper Example Moreover, the PCAOB oversees the registration of public accounting bodies responsible for auditing publicly traded companies, conducts disciplinary proceedings and investigations of registered firms, inspects the registered firms’ practices, and approves registered firms (Carmichael 6). Recently, The Public Company Accounting Oversight Board (PCAOB) has suggested new guidelines aimed at investors’ protection via strengthening prerequisites for audit substantiation. One of these guidelines includes inspections, which is an effort by PCAOB to promote high quality audit. Annual inspection oversees the improvement of quality audit. PCAOB requires any audit firm auditing a public company to be registered with PCAOB. Such a firm is inspected annually by the PCAOB if it audits 100 or more publicly traded companies or after every three years if it audits less than 100 public companies (Knapp 62). Results obtained after inspection help point out areas which require further practice, audit guidance, reminders training, or enhanced skills leading to better performance by audit professionals. A report is prepared after every inspection by the PCAOB and made available to public. Recently, the PCAOB added more responsibilities to the audit committee which include responsibility of overseeing the work of external auditors, compensation, and appointment (Carmichael 25). The committee is obliged by SOX to comprise of at least one person with financial expertise in order to facilitate its duties. With some expertise, the audit committee is in a better position to challenge financial statements, ascertain the appropriateness and sufficiency of internal controls, and, if need be, perform certain accounting procedures to safeguard interests of Shareholders. Companies that lack a financial expert as a member of the audit committee are required to disclose and give an explanation for this in the yearly proxy

Working With Different Service User Groups

Working With Different Service User Groups Explore the challenges faced by the differences in working with three Service User Groups adults, older people and children. Discuss how, by drawing on relevant life course theories, your communication skills would need to be modified in order to meet these challenges and remain effective, anti-discriminatory and anti-oppressive. Interacting via communication with Service users is of one of the highest important aims for social / care workers providing care. Each individual case is unique and I will be explaining how communication skills differ from each person to the next. There are many different life course theories that can be used to explain how a person develops through the stages of life. In this assignment I will be looking at Eric Bernes Transactional analysis for the adult group and showing how adults have to change their tone and manner as they are seen as the teachers for the next generation. I will be explaining Cunning and Henrys Disengagement theory as this is a very important phase for older people and communication can be limited because of the perils of old age. Also I will be looking at Piagets cognitive development theory and Bolwbys attachment theory in relation to children and how these theories affect communication. Eriksons eight stages of psychosocial development contains elements for all three age groups so I will be looking briefly at the different stages involved, and I will also be looking at any challenges that occur within the groups and what skills are needed to overcome this via social work / care workers. Interacting via communication with Service users is of one of the highest important aims for social / care workers providing care. Each individual case is unique and I will be explaining how communication skills differ from each one person to the next. There are many different life course theories that can be used to explain how a person goes through the stages of life. For adults I will be taking you through Eric Bernes Transactional analysis and for the elderly group I will look at Cunning and Henry Disengagement Theory and how this affects communication for the older generation and then I will be looking at Piagets cognitive development theory and Bowlbys attachment theory and how these theories affect communication within the childrens group. Then I will be showing how Eriksons eight stages of psychosocial development are involved in all three service user groups and I will also be looking at any challenges that occur within the groups and what skills are needed to overcome this via social work / care workers. A life course is the advancement a person takes from birth to cessation (Crawford and Walker, 2003 p. 3) Also (Newman and Newman, 2007 p. 185) shows the life course as a perspective which helps to explain how altering societal predicaments affect development and combination of the phases of family and work life over a number of years. (Fiske, 1982 p. 2) explains communication as being an action that every person can identify with, by talking, listening to the television or distributing knowledge these are all forms of communication. He describes two main studies of communication as being either an expression of words or a creation and replacement of meanings. If we take a look at the Transactional analysis theory (Woods, 2010) shows that Eric Bernes theory was about ego states which are parent, adult and child. It covers a wide range of exclusive advancement including communication, behaviour and personality. Looking at adult communication he saw this as being the main voice used to influence the whole learning process. He believes that if someone is talking in a childish manner automatically the adult will respond with a voice of authority, either in a sarcastic tone or a caring parenting manner. (Chapman, 1995) also shows that transactional analysis is used for therapeutic, personal development and communication; it helps a person understand ones self. To communicate we use our own feelings which can shift at any one given time, and to reply we will use the exact way of thinking. So to have stable conversations an adult needs to act interested to what is being said and show the person speaking that they have their full attention and thi s will make for a stronger relationship between them both. Favourable communication according to (Weger and Polcar, 2002) is the basic domain of an interpersonal friendship. If you offer support and are willing to provide comfort through good and bad times then this will in turn be a healthy natural relationship. (Wolvin, 2010 p.144) believes the art of communication is to listen, with doing this you are better able to understand the concept of communicating, and then you can identify and evaluate the question helping you to make sense of it. Behavioural issues can be defined by a persons determined state, they show up as objectives and by using these objectives a person will come up with a way of achieving their potential via talking. So by communicating it is up to the individual to put as much information into the conversation so the recipient can define their answer to make it a purposeful state (Ackoff, 1958) (Nussbaum, 2000) states that elderly people have to regularly change their lifestyle to adapt to adjustments associated with getting older. Age can cause many challenges for communication, examples are: memory loss or loss of hearing. Because of these it could take considerable time for any acknowledgement whilst trying to communicate, they may tend to make inaccurate sentences and be less sensitive about issues that may otherwise hurt someone elses feelings. There are many theories linked to prosperous aging examples of these are: continuity theory, activity theory, socioemotional selectivity theory and disengagement theory. Looking at the disengagement theory (Maddox, 1964) states that the disengagement is the final stage of the life course process. Life goals are a very important phrase in everybodys life and this seems to extend through to the older generation also. The belief is that psychological departure leads to total exclusion from the older persons social life, and without this communication will be very limited as they may not have any family of friends visiting on a daily basis. Communication with older people can be a complicated process. At the time when it is needed the most communication seems to be a burden because of the life processes which come with the old age. To overcome some of the frustrations of speaking to an older person if you allow extra time for them to speak and sit face to face with them, then if there is any hearing loss at least the person can watch your lips to understand what you are saying to them. If you speak slowly and clearly or even write down some of the conversation to explain in a bit more detail this then will help the person immensely and by doing this you are showing respect and helpfulness towards to person you are talking to (Robinson et al. 2006) There are many challenges involved with working with older people, (Hepple, 2004) shows there are many approaches that can be used to try and boost communication issues. Group and behavioural approach or reality familiarisation is widely used to try and amend the forgotten memories. Whichever approach is used will depend mainly on the resources of the institution that is providing the care plan for the service users involved. Looking at Piagets cognitive development (Feldman, 2004) believes that his work was not the dominant competitor for a while but now it has accomplished extensive significance to researchers again. Some critics thought his work was to complex and to widespread but his stages still form the basis of the developing mind. (Boeree, 1999) shows the stages of development for a child as being the Sensorimotor, preoperational, concrete operations and the formal operations stage. According to (Koprowska, 2005 p. 97) a baby within the first couple of months will try and make blubbering noises in response to you talking to them and will only start trying to develop simple words by the age of one. So the best means of communication with young children would be via play and interaction. Children do not enjoy sitting for long periods of time so by drawing or innovative games could be the easiest way for communication to take place for the younger age groups in Piagets stages. (Geddes, 2007) believes that using Bowlbys attachment theory will help in the understanding of sensitive experiences which in turn helps you to communicate with young children. The basis of communication is to show your inner self via your feelings, thoughts and creativity. So by looking at Bowlby, the attachment for a child will help with their future experiences if the start of their life is one of security within a family unit. The child then will be able to examine the world and if there are any pressures they can always return to their safe haven for security. With a negative attachment a child will struggle with communication and relationships. They tend to be insecure and prefer to keep themselves to themselves as they dont respond well to any attention and can start to be disruptive and aggressive because they feel vulnerable and out of their depth. The Children Act 1989 sets out the rights of the child, so the child needs to engage in any outcomes that will modify their lives and future. Social workers need impressive skills in communication as there are many barriers that can stop any interaction with the child so they need the ability to be able to cope under any form of pressure or obstacle placed before them. Social workers deal with many families and young children all with very different backgrounds examples of these are: children who are leaving care, children who have behavioural problems and children who may have health problems or disabilities, each case is different so the social worker needs to be able to produce a care plan and have the skills in place to communicate on every different level to provide the best possible care for the service users involved. (Koprowska, 2005 p. 94) Eriksons eight stages of psychosocial development involve all three age groups, when looking at children Eriksons stages progress through at least four of them. (Adoption media, 1995) states that if a child wants to proceed onto the next stage they need to complete the one before. A child will develop trust if well cared for and be insecure if not; this will show up in all the stages there is a negative to every positive. So a child will only learn from what they are taught and if they are shown the right way to develop through the various stages then as they become parents they will be secure and happy to show their children the right upbringing to carry on the process to the next generation. (Zastrow and Ashman, 2007 p. 444) states that the seventh stage of Eriksons life development is Generativity versus stagnation. Generativity is instructing family and friends to make improvements in their lives to make the future better for their offspring. This will involve safeguarding and improving the lives of future generations for a better quality of life. Stagnation on the other hand is the selfish side of the stage, adults who only think about their own needs and are not willing to take anyone elses feelings into consideration. (Greene and Kropf, 2009 p. 90) shows Eriksons final stage as being Integrity versus Despair. Absoluteness is achieved if the person involved has leaded a full and complete life, dealing with everyday disappointments as well as accomplishments successfully. Despair on the other hand is for the people who fear death and the ones who have not accomplished everything they wanted to do in their lives and wish for another chance to achieve this. If communication is not sort in the identity stage (Sanchez, 2002) states that this could affect self confidence in later life. New ideas start from communication, a person needs to be able to express their thoughts and feelings. Interpersonal communication through all of Eriksons stages will help an individual have a healthy developed identity. (SCIE 2010) shows how social workers have to work by their codes of ethics and values showing respect, empathy and a genuine helpfulness towards the service user they are working with. They will always provide a complete care package to help empower the individual to deliver the best possible outcome. If the social care worker uses an interpersonal approach this in turn will guide the service user to help them decide how their care is achieved and help make the decision process a group decision, so communication is a key element to this approach which will then help with the relationship between the user and the social care worker. To summarise there are many different ways to communicate with the three service user groups. People who work in the social work/care sector are trained to be able to customise their expertise to care and communicate at all levels. If the care worker shows empathy and helpfulness they will get more back from the service user then they would if you started the conversation with an aggressive attitude. Service users what to be listened to, they want you to understand what care they expect. You will have to change the way you speak in all different circumstances, speaking to children will be completely different to speaking to an adult or an elderly person. Body language and facial gestures also show as an important part of communicating with someone, even repeating what the other has said will show that you are taking them seriously. You need to be able to change your approach for all different situations and use different interventions to cater for each individual seeking care. Word count 2055

The Deception of Visual Memory :: Photography Essays

The Deception of Visual Memory What is visual memory? And what does it mean to remember through images? Unlike verbal memory, visual memory functions primarily through a dependence on its materiality, on the texture and availability of the paintings, icons, photographs, films, and video clips that give it shape. We remember whole events through condensed images that reduce complex and multidimensional phenomena into memorable scenes. The meanings of wars, political conflicts, tragic romances, and cataclysmic disasters can all be found within a painter's brush or a camera's lens, as in Emanuel Leutze's 1851 rendition of George Washington crossing the Delaware River or Joe Rosenthal's photographic capture of the flag-raising atop Iwo Jima during World War II. The materiality of visual memory is deceptive, in that it overstates elements of the visual that cater particularly well to memory work. Visual memory depends on images that are simplified, conventional, schematic, and often composite. These images tend to arbitrarily connect with the event or object being remembered, rarely making explicit how they construct what we see and remember. Collectively held images thus act as signposts, directing people who remember to preferred meaning by the fastest route. These signposts are deceptive, favoring certain strategies for making, collecting, retaining, storing, recycling, and forgetting images that privilege certain ways of remembering over others. With photographs, visual memory's deception is particularly acute.We need only think of the photo of a dazed Jackie Kennedy gazing upon the swearing-in of Lyndon Baines Johnson as the next U.S. President or of the image of a small boy, his hands stretched above his head, being herded out of the Warsaw Ghetto by German soldiers, to recognize how well photographs work as vehicles of memory. But their strength is offset by the fact that in memory, one function of photography - its ability to "tell it like it is," commonly called its verisimilitude - is understated in order to privilege a second function - the ability of the photo to act as a symbol. In memory, then, contingent details matter less than the way in which contingent details are made part of a larger interpretive scheme. Holocaust photography bears this out with troubling implications for our understanding of contemporary atrocity. Photos of the liberation of the Nazi concentration camps in 1945 were recorded with inaccurate or incomplete captions, with few credits, and with an uneven relationship to the words at their side.