Economics & Glob Bus Apps Essay Example | Topics and Well Written Essays - 2000 words

Economics & Glob Bus Apps - Essay Example Task 1 Relationship between Marginal Revenue and Marginal Cost Marginal revenue is defined as the revenue generated by the sale of one extra unit of a product. Whereas total revenue means the entire revenue generated by the total quantity sold. (Sloman) Marginal cost is defined as the cost of producing one extra unit of a product. Whereas total cost refers to the sum of all the expenses incurred by a company, to produce all the units of the product. (Sloman) Profit is the excess of revenue over cost. Profit is defined as the return that a person gets on investment. In economics, there are three types of profit: normal profit, abnormal profit and subnormal profit. (Sloman) However, the term profit maximizing means that a firm is operating at a point where the difference between its total revenue and total cost is highest. (Lipsey & Harbury, 1992) The profit maximizing firms produce where their marginal revenue equals their marginal cost. Now common sense will suggest producing where t he revenue brought by an additional unit is the greatest and the corresponding cost is the lowest but at this point the total production and the total profit will be very low. Thus the firm will not be maximizing profit at all. So to fulfill the definition and requirement of profit maximization, a firm has to produce where MR=MC. In addition to that, MC and MR are the gradient functions of both TC and TR curves. So when both gradients get equal, the curves get parallel and the distance between them becomes the greatest. (Lipsey & Harbury, 1992) If a profit maximizing firm is faced with a situation where its MC increases its MR, then it will have to reduce its production. This is due to the simple rule that MR reduces as the production increases and MC increases with it. So to get back to the equilibrium, the firm will have to reduce the production. (Lipsey & Harbury, 1992) On the other hand, if the firm’s MR exceeds its MC, then it will have to increase its production. This i ncrease will cause the MR to fall and the MC to increase and the equilibrium will be attained. (Lipsey & Harbury, 1992) Task 2 Supply and Demand Concepts Elasticity of demand is defined as the measure of ‘responsiveness of the demand’ of any good or service with a change in its price. It can also be defined as a ratio of the ‘percentage change in the demand and the percentage change in the price’. Elasticity of demand is of three types. Elastic demand is the demand that responds greatly to a small price change. Inelastic demand shows a smaller change in quantity following a greater change in price. Unit elastic demand shows the same change in demand and price. Price Elasticity of Demand can be calculated by the following formula: Percentage change in quantity demanded / Percentage change in the price. (Sloman) Cross price elasticity of demand gives us the effect on the demand of one good due to a change in the price of other good. Therefore, cross price ela sticity of demand is a measure of the relationship between percentage changes in the demand of one

K-Pop Essay Example | Topics and Well Written Essays - 1250 words

K-Pop - Essay Example As a result, the youth had disposable resources that they could use in consuming popular culture. K-pop emerged to meet the need for a form of entertainment that was local but also embraced the pop curiosity that was rampant at the time. An interview conducted on a friend on whatsapp revealed that K-pop music is amazing and emotional. In addition, they are fresh and illustrate change as evident in the manner in which dancers attain rhythm and unity. Many people think that PSY single-heartedly invented K-pop, the Korean music scene. However, the emergence of the music genre can be traced to idol acts who popularized it in the 90s (Oak & Woong 1). Gangnam style, Psy’s sound and comedic choreography has attracted over 1.7 billion views since its release (Oak & Woong 1). In spite of this being the first K-pop hit that has achieved international success, early idols used a combination of western and Eastern sounds that were in-sync with the fashion choices of the time. In 1992, the Seo Taiji and Boys, a trio of singers and rappers emerged with a penchant for mixing American and Korean lyrics (Oak & Woong 1). They experienced success in South Korea due to the inherent desire for a music genre that could reflect their embrace of western culture with betraying their own. Entertainment companies looked at this new trend as an opportunity for enhancing their profits (Williamson 1). As a result, copycats emerged and contributed towards the genre becoming a mainstream act in Korea.

Review#6 Assignment Example | Topics and Well Written Essays - 250 words

Review#6 - Assignment Example According to this article, in 2050, there will be a point where we have to look at other areas that have thus far remained untouched and determining whether or not that portion of the natural environment that animals and birds live in will be destroyed simply so we have somewhere to grow consumable goods (Cassman). When looking at the article in â€Å"Time Magazine,† the author suggests that this topic of food versus biofuels is hot among environmentalists. Some know that we need the food to survive but using these consumable goods as a source of energy is also environmentally efficient to store up fossil fuels that are non-renewable resources. This article surprisingly suggested that corn as a biofuel is not really as efficient as people believe and that the corn could feed more people than it helps out as a source of energy. An interesting perspective in this article suggests that there could be a plant that is grown that is non-consumable by humans but could be used in place as a biofuel instead. There would then be a balance as suggested by the research that found that switchgrass was a better source of fuel than corn ethanol (Walsh). Looking at both perspectives and understanding what is already known, this is a problem that was addressed in both of these articles, five years ago. The problem has continued and there is still no answer. But who will fund the research to find an alternative? I think that the growing population will continue to the point where we are without enough resources but I do not believe it will occur in my lifetime. However, it is an issue that will be faced in the future and should be thought about

MANAGING PROFESSIONAL DEVELOPMENT Essay Example | Topics and Well Written Essays - 2500 words

MANAGING PROFESSIONAL DEVELOPMENT - Essay Example ersonal styles. My own results from taking the inventory report that my strengths lie mostly in musical, existential and intrapersonal intelligences, as I got a perfect score on these sections. Next to these, I scored 90 in Kinesthetic and Verbal intelligences, followed by a score of 70 in naturalist, interpersonal and visual intelligences. I scored lowest in logical intelligence, garnering a score of 60. VARK Test VARK stands for Visual, Aural, Read/Write and Kinesthetic learning styles. It is an online questionnaire that asks 16 questions to measure which reflects the learning style of the test-taker. VISUAL- learners who would like to  see it on the whiteboard, flip charts, walls, graphics, pictures, colour. AUDITORY-learners who would like to sit back and listen. ... Team roles improve self-knowledge and understanding among individuals and teams. They also depict a current behavioral pattern at a certain point in a person’s life. Preferences are not fixed, since many factors can influence behavior, whether a new job, promotion or circumstances outside work. My Belbin Test Results Preferred Roles: Teamworker Manageable Roles: Resource Investigator/ Plant Least Preferred Roles: Shaper MBTI (Myers-Briggs test) This theory measures psychological preferences in how people perceive the world and make decisions. The preferences indicate the differences in people based on the following: How they focus their attention or get their energy (Extraversion or Introversion) How they perceive or take in information (Sensing or Intuition) How they prefer to make decisions (Thinking or Feeling) How they orient themselves to the external world (Judgment or Perception) Myer-Briggs Test Result: ESFJ & ENFJ Self-Assessments Self-assessments are effective ways f or individuals to evaluate themselves to see how far they have come in terms of progress in one area or another and to know their strengths and weaknesses. Self-assessments can come in various forms. Some are simple reflective practices while others entail taking some tests. Self-assessments, including those done by practitioners in clinical environments are truly helpful in one’s learning and professional development as individuals who assess themselves either through reflective practice or test-taking, find ways to be better learners. This begins with the realization that they need to improve on the weaknesses reflected in the assessment as well as honing the

Critically evaluate John Lewis Partniership as an example of conscious Essay - 1

Critically evaluate John Lewis Partniership as an example of conscious capitalism - Essay Example The company has a great distinction of being the high-street website in United Kingdom. The image of the company is upmarket, and it helps in appealing to both the middle and upper class shoppers. Recently, the company has broadened its marketing strategy towards all types of buyers in the market. This has been done through the introduction of the value range to the John Lewis stores and essential to Waitrose supermarkets, and ultimately the expansion of the whole business. The model upon which John Lewis Partnership has been able to develop success, provides the most valuable array of information, where people may draw as they seek to develop alternative businesses anchored to the principles of social economy. John Lewis’ legal form has been used to distinguish it from other businesses. Firstly, John Lewis partnership has a constitution guiding the operational processes. The shareholders profits do not dictate, but it based on a series of its principles. On this case, the members’ happiness is considered the supreme purposes of the partnership. Such happiness relies on the workers having a satisfying job in a successful business (Gomm 2004, p.6). John Lewis partnership employs the principles of conscious capitalism to run the organization. The employees and not an individual own the company. The paper will expound briefly on the background of John Lewis partnership and conscious capitalism. It will also evaluate both John Lewis and Conscious capitalism principles and their applicability. Finally, it will also look into how the partnership uses the principles of capitalism to run. John Lewis became a first legal entity in the year 1929 after the creation of the initial trust settlement. All of the company’s profits were available for distribution among the partners of the company, which are the employees. The founder of the John Lewis partnership, Spedan Lewis, had to sacrifice his personal ownership in order to fulfill his underlying dream

Sir Alexander Tilloch Galt Biography Essay Example for Free

Sir Alexander Tilloch Galt Biography Essay D. O. B-D. O. B: September 6, 1817 September 19, 1893, in London, England and came to Canada in 1835 to work for the British American Land Company. Family Information: On February 9, 1848, Galt married Elliott Torrance, the daughter of John Torrance, of Saint-Antoine Hall, Montreal. She died on May 25, 1850, shortly after giving birth to their only son, Elliott. Later he married her younger sister, Amy Gordon Torrance. Amy gave birth to 7 daughters and 2 more sons. They lived in Montreal at their house within the Golden Square Mile, which Galt built in about 1860. Galt appears to have had a very non-sectarian approach to religious faith and although the grandson of a Calvinist theologian, Alexander Galt supported both the Methodist and Anglican churches while his wife, Amy, was a lifelong Presbyterian. Occupation: He was a politician, member of the Canadian parliament. Is the Father of Confederation. Personality: Alexander Tilloch Galt, who was of Scottish descent, spent his early years with his brothers John and Thomas partly in the London area, partly in Scotland. Addiction: Sir Alexander Tilloch Galt had no addictions to anything. Political Party: Sir Alexander Tilloch Galt is from a Liberal-Conservative party. Political Beliefs: He was a member of the Great Coalition government in the Province of Canada that secured Confederation between 1864 and 1867. He became a leading figure in the creation of the Coalition when he was asked to become premier of the Province of Canada by then Governor General Sir Edmund Walker Head. Doubting his own ability to demand the loyalty of the majority of members of the Legislative Assembly, he turned down the position, but recommended that George-Etienne Cartier and John A. Macdonald be asked to become co-leaders of the new government. Political Career: The remainder of Galts political career was spent as the Canadian governments representative abroad until 1883, when he returned to the business world. Chronic health problems late in life forced him to limit his activities after 1890. He died at home in Montreal on September 19, 1893 Contribution to Confederation: He was one of the pioneers of the philosophy of Confederation. As early as 1858, he proposed a federation of the colonies of British North and planned the financial arrangements for the new nation. After Confederation, he served briefly as the Minister of Finance, but drifted into the position of Independent Conservative and in 1880 he was appointed as the first high commissioner to Great Britain which he kept until 1883. Additional Information: Alexander Tilloch Galt was one of the most influential politicians of his time. His role was most prominent during the constitutional conferences; he was involved in the issue of economic development and was committed to defending the rights of religious minorities. These things together made him truly one of the Fathers of Confederation. In 1824, Alexanders father John Galt founded the Canada Company a settlement company active in the area of Lake Huron and laid the groundwork for the city of Guelph, Ontario. It was during this time that the young Alexander first came to Canada, in 1828. He remained for two years. Despite the failure of the Canada Company, John Galt helped found the British American Land Company in 1834 and arranged for his son to be taken on as a clerk in the Sherbrook office. Thus, in 1835, Alexander Tilloch Galt returned to Canada for the second time. In 1840, he drafted a report on the companys successes and failures, and the document made its way to London. Galt had made an impression: in October 1843, the London office made him secretary of the British American Land Company and, in 1844, he was named commissioner.

Reflective case study in counselling

Reflective case study in counselling Part I: Case Assessment Report New Territories West Integrated Family Services Centre Case Assessment Report A. Basic Case Information Name of Client: Madam CHAN Sex/ Age of Client: F/36 Name of Worker: Dada Wong Nature of case: Counseling B. Presenting Problem Madam CHAN reported that she has been suffering from low mood, loss of appetite, headaches and insomnia for over a month. She had also lost motivation in doing household chores and would cry sometimes without reasons. C. Social History 1. Genogram 2. Family background Case client, Madam CHAN, moved from Mainland China to Hong Kong 5 years ago. She married with her husband, Mr. LEE, in Mainland China. They have one son, two daughters in total, and living together. Son is 12 years old, will become F. 1 student in secondary school, and daughters are 8 years old and 3 months respectively. Madam Chan got pregnancy last year and Mr. Lee suggested Madam Chan to have abortion but she refused. She insisted to give birth of the youngest daughter because she thinks it belongs to her. She expressed husband does not put much cares, include physical and financial, on the youngest daughter. Madam CHAN reported their marital relationship was fine when lived in Mainland China, but conflicts increase when move to Hong Kong. Client complains Mr. LEE sends most of his income for his parents in Mainland China and does not give much money for their family. They have arguments about this issue always. 3. Emotional condition Madam CHAN suffers from low mood, loss of appetite for over a month. She reported sometimes would cry without reasons and loss of motivation in doing housework at home. Emotional unstable when talking about her situation, she cried twice during the counseling process. 4. Health condition Client expresses loss of appetite, headaches and insomnia for over a month. She feels tired and lack of energy when at home, but no problem at working. 5. Financial condition Madam CHAN now works as a part-time waitress in restaurant, and responsible for taking orders and delivering dishes to customers. She earns around $5000 per month. Mr. LEE is an air-conditioner technician, earning around $12000 per month. Madam CHAN reports Mr. LEE does not contribute much income on own family, around $3000 per month, but gives most of money to his parents in Mainland China. She reported that most of the expenditures of family are supported by her own. 6. Supportive network Madam CHAN pays around $1000 each month for her younger sister to take care the baby when she goes to work. She expressed the money also viewed as a help to sister’s family. Client mentioned that her younger sister and brother have their own financial difficulties, therefore, she also needs to take the responsibility of parents’ financial supporting. Madam CHAN said she only visited for her parents two times after move to Hong Kong in five recent years. D. Case Analysis 1. Underlying problem Based on the information collected from counseling Madam CHAN, it is believed that her headaches and insomnia symptoms are closely related to the stress on family financial situation. Madam CHAN expressed worries of limited income from being part-time waitress, may not be sufficient for supporting the expenditure of whole family. She complained Mr. LEE giving most of the salaries for his parents in Mainland China but little for family expenditures and children. They argued for this issue many times after Madam CHAN moved from Mainland China to Hong Kong. She believes that family financial situation would be improved if Mr. LEE willing to share more monthly income to their family. She tried to ask for more financial supports from Mr. LEE but failed, and thought like begging from him. She feels angry about that and gives up trying anymore. For this reason, she believes she cannot reply on her husband. In addition, client complained Mr. LEE ignores the responsibilities of taking care of the children, especially the new born baby. On the other hand, based on the information got from Mr. LEE during interview, the third child is not he expected and wished. He believed the third child is a real burden on family financial aspect. He expressed the major reason of argument with Madam Chan is money distribution. 2. Assessment Counseling done. From the interviews, Madam CHAN presented the concern about the financial problem of family. She cried twice when talking about the issue of Mr. LEE sends most of the salaries to his family in Mainland China. She said, â€Å"Maybe our children are less valued than his family!†. That shows her anger about Mr. LEE behavior toward money distribution. She has expressed her worries about the maintenance of family income as one more child at home nowadays, expenses increase. She reported that feeling lack of energy when at home, suffering from low mood, headaches and insomnia for over a month, however, does not have these problems when working. It is believed that her physical discomfort symptoms like headaches and insomnia are due to the pressure and worries about family financial situation. From the interview with Mr. LEE, he expressed the new born baby is unplanned. He believes family situation in general would be better if without the third child. Mr. LEE expressed he has the money saving plan for children before, likes saving for their future study. That shows Mr. LEE willing to plan about the future of family. However, the new born makes the plan collapsed. He suggested Madam CHAN to have abortion but she insisted to preserve the baby. He was angry about that. Mr. LEE stated that Madam CHAN always ask for more money during the conversation. He has implied the new born may not belongs to him during the interview, but he did not explain further on this point. 3. Intervention It is believed that the emotional problem of Madam CHAN may due to the stresses on worrying about not able to take care of the children and maintain the family income at the same time. According to the information got from interview, Cognitive Behavior Therapy (CBT) Approach would be appropriate to adopt in the intervention. CBT addresses the interactions between how we think, feel and behave (Somers, 2007). It believes that the peoples’ feelings, emotions, thoughts are the responses to the outside world. Therefore, one’s behaviors could be changed from changing their perception and cognition of the situation from the process of therapy (Somers, 2007). According to Hall Iqbal (2010), CBT could reduce the stress and anxiety level, and the related symptoms would be relieved when go through the therapy or treatment. CBT states that behaviours could be changed by changing perception. Therefore, the stress related symptoms of Madam CHAN, such as headaches and feeling lack o f energy, are expected be addressed if using CBT approach. E. Recommendation for Follow-up I would like to refer Madam CHAN for psychiatric consultation, to have medication treatments. It is necessary to relieve the physical discomfort of client immediately. Referral for psychiatric consultation was sent out. After addressing the problem of physical discomfort syndromes, it is recommend Madam CHAN to join education group about stress management in centre after having individual counseling, in order to learn the skill of handle stress in life. Counseling services in centre for Madam Chan keeps on for monitoring. CBT approach would be used on changing her perception about worrying the financial difficulties. For long term goal, joint interview and counseling of Madam CHAN and Mr. LEE is suggested for them. As both of Madam CHAN and Mr. LEE have plans on family future, thus, the joint interview would focus on encourage effective communication between each other, to discuss how to do the better distribution of family income. Signed by Intake Worker: _________Signed by Supervisor: _________ Date: _________ Date: _________ Reference Hall, K. Iqbal, F. (2010). The Problem with Cognitive Behavior Therapy. London: Karnac Book Company. Somers, J. (2007). Cognitive Behavioural Therapy: Core information document. Vancouver: Centre for Applied Research in Mental Health and Addiction, Simon Fraser University. . Part II: Self-evaluation From the role-play practice, it was a good experience for me to feel the dynamic between worker and client. Within the practice, several communication and counseling skills have been used. Several basic communication skills have been used in the counseling practice, such as Questioning, Reflection of feeling, and Paraphrasing and Clarifying. During the counseling process, open and closed also have been used. For the closed question, such as â€Å"Have you discussed with your wife about the income distribution of family?†, in order to know whether Mr. LEE and Madam Chan ever talked about the core problem. As Mr. LEE answer â€Å"No†, and following an open question of â€Å"Why?† to Mr. LEE, in order to know the reason and the dynamic between them. In addition, Reflection of feeling can let me to know the exact feelings of clients, to distinguish the feeling of disappointment or angry with Mr. LEE. The skill of Paraphrasing and Clarifying also help me to clarifying the meaning of Mr. LEE as he implied some wordings like he doubted about the baby is not belongs to him. I think it is important to clarify from him as it might be another core family issu e in this case. Empathy is also one of the important elements has been used during the counseling process because it can let me to engage with Madam CHAN. Once she feels I am a person who could understand her feelings, she becomes more willing to talk and share with me about real difficulties she is facing. Therefore, empathy is one of the core elements within the intervention process. On the other hand, I had made a mistake in the intervention. I presumed the client emotion and attitude would be gradually better after each session. I anticipate Madam CHAN would turn to understand and appreciate Mr. LEE who has planned about their family future in last session. Therefore, I prepared a lot of suggestions based on Madam CHAN who is ready for consensus with Mr. LEE. However, my expectation failed. Madam CHAN does not want to agree with Mr. LEE, my suggestions were not suitable for client and seems I was not able to engage with her. It may due to I ignored the factors that they may have dynamic interaction during the week between sessions. From this mistake, I have learned that, as a worker, we should not presume the behavior and attitude of client. We could not include all the factors outside the intervention session. Also, behaviors are changeable. It was a good opportunity for me to learn, worker should prepare for changes every moment Generally, I have urged client to change her mind and perception and ignore the emotional needs of client. As I would like to use CBT to be my intervention approach, to make client believes that the situation is not really bad and would like her to understand that Mr. LEE also planned for family future, I hope to change her mind as soon as possible. Thus, I may ignore the emotion needs of client, such as addressing her anger about feeling unresponsive of Mr. LEE. From this role-play, I have learned that, do not only focus on the intervention process but also need to cater and care about the feelings and emotions of client. It was a good experience for me to prepare the case work in the coming future. 1