Altran Techno Company - Free Essay Example

Sample details Pages: 6 Words: 1940 Downloads: 9 Date added: 2017/06/26 Category Business Essay Type Narrative essay Did you like this example? Altran Techno is an engineering company (other than construction and information technology), an European leader in innovation consultancy. The group was formed in 1982 and building on its rapid growth in Europe, Altran has now extended its services in countries like (USA, South America, and Asia) and gambles on the ever increasing complexity of todays technologies. /p This has actually proved worthwhile. Don’t waste time! Our writers will create an original "Altran Techno Company" essay for you Create order The gamble of introducing a multi-technological and multi-sector approach has enabled Altran to bring technological solutions to its clients and thereby made them genuinely competitive in business world. The group is involved, at multiple skill levels, in areas such as the science of physical phenomena, model building, chemistry, automation, electronics and computing systems and multimedia. /p Altran has widened its horizons as it has grown and now over 50% of its turnover comes from abroad. Every year the Altran foundation awards a prize for some technological innovation that benefits the general public./p KEY FIGURES/p Year /p 2006 /p 2005 /p 2004 /p 2001 /p 2000 /p Figures are millions of Euro /p 1,591.4/p 1,495.6/p 1,434.5/p 1,418.68/p 1,337.7/p Net Profit/p 21.6/p 3.8/p 0.2/p -2.1/p -92/p Auditor:/p Deloitte Touche/p Number of employees:/p 17,057 ( 31/12/2006 ) 16,152 ( 31/12/2005/p Altran Technos board comprise of:/p Chairman of Supervisory Board:/p Dominique de Calan/p Chairman of the Executive Board:/p Yves de Chaisemartin/p Chief Financial Officer:/p Eric Albrand/p Communications:/p Pascal Brier/p https://uk.finance.yahoo.com/q/pr?s=ALT.PA Discussion of Beta/p By the term Beta we mean a measure of the volatility, or systematic risk,of a security or a portfolio in comparison to the market as a whole./p Beta is calculated using regression analysis, and you can think of beta as the tendency of a securitys returns to respond to swings in the market.A beta of 1 indicates that the securitys price will move with the market. A beta of less than 1 means that the security will be less volatile than the market.A beta of greater than 1 indicates that the securitys price will be more volatile than the market. For example, if a stocks beta is 1.2, its theoretically 20% more volatile than the market. https://www.investopedia.com/terms/b/beta.asp To calculate Beta of a companys equity (using the market model), the process of regression needs to be performed for the monthly returns of the share against the monthly returns of the French market index (CAC40). /p The monthly retu rns of Altran, Techno shares against the monthly returns of the CAC40 index have been presented in as an appendix to this analysis. The period taken into consideration for this analysis covers the period 1supst January 2003 to 1supst January 2008./p However, the calculated value of Beta at 0.804956 (0.805) was arrived at after regressing the data for the period under review. The p-value is 0.176345. This simply shows that the beta of 0.805 is not significant at the 5% level because the p-value is above 0.05. On the basis of this scenario, I am rejecting my beta, but however, have chosen to use the surrogate beta of 1.35 since Altran Techno falls within this category./p I have chosen a surrogate beta of 1.35 of General Industrial since Altran Techno involves in all kinds of engineering other than constructions and information technology./p No of observation in my data are 59. One important issue to observe in this study is that the calculated beta is even lower than the indu stry average./p https://geocities.com/vshenai2000/abacus.rtf R squared/p Astatistical measure that represents the percentage of a fund or securitysmovements that can be explained by movements in a benchmark index. For fixed-incomesecurities,the benchmark is the T-bill. For equities, the benchmark is the SP 500./p R-squared values range from 0 to 100. An R-squared of 100 means that all movements of asecurity are completely explained by movements in the index. A high R-squared (between 85 and 100) indicates the funds performance patterns have been in line with the index. A fund with a low R-squared (70 or less) however does not act much like the index. In the case of Altran Techno, the company has an R squared of 0.031837, going by the above scenario, its funds performance patterns have not been in line with the index. This 0.031837 provides an estimate of the proportion of the risk of Altran Techno that can be attributed to market risk while the balance 1-0.031837 can be attributed to firm specific risk./p The standard error is the standard deviation of the sampling distribution of that statistic. These are important because they reflect how much sampling fluctuation statistic will show. In this case Altran Technos standard error is 0.150538 which is the specific risk that cannot be diversified/p Multiple r Multiple r tells how efficient a system is. In the case of Altran Techno, its multiple r is 0.178429/p French Yield curve and Equity Market Risk Premium/p The French Yield curve/em According to Bodie et al, (2005:496) yield curve is a graph of the yield to maturity on bonds as a function of time to maturity The yield curve reflects expectations of future interest rates; it also reflects other factors such as liquidity premiums. The yield curve is one of the main concerns of fixed-inflow for investors./p From the explanation we can easily say that the slope, shape, and level of yield curves may vary over time with fluctuation in interest rates. /p The shape of the French yield curve for the first 4-5 years is falling due to the market reaction to news relating to the effect of the credit crunch balloon, the whole effect of the situation is not known and the situation is driving investors to expect the central bank to cut interest rate and tighten monetary policy in order to deal or prevent the inflation and recession that are spreading around the world./p However from the 6 to 15supth years the shape of the yield curve is upward showing sign of investors expectations that the policies and actions implemented by the federal banks and governments will lead the economy to a slow but steady growth, furthermore the rise in the shape of the curve can be seen at the beginning of an economic expansion, or after the end of a recession. Here, economic stagnation will have depressed short-term interest rates; however, rates begin to rise once the demand for capital is re-established by growing economic activi ty. The shape of the curve is then flat from the 16th years onward because the maturities have a similar incomes or returns; however we can notice that between the 30th years and the 50th the curve fall a bit maybe due to investors uncertainty towards the future. Equity market Risk Premium/p The excess return that an individualstock or the overall stockmarket providesovera risk-free rate. This excess return compensates investorsfor takingonthe relativelyhigher riskof the equity market. The size of the premium will vary as the risk inaparticular stock, or inthestock market as a whole,changes; high-risk investments compensated with a higher premium./p Simply put, risk premium is the premium that investors demand for investing in an average risk investment, relative to risk free rate with following pre-requisite including greater than zero, increase with the risk aversion of the investors in that market, increase with the riskiness of the average risk investment./p Estim ation of the Cost of Equity capital of the company from the CAPM According to Ross et al, 2005 the Cost of Equity Capital is the required return on the companys common stock in capital markets Looking at it from the other way, it is what equity holders can expect as a return when they invest in the stock market. With the use of CAPM the cost of equity capital of Altran Techno can be computed as:/p Ke = Rsubf + ß(E(Rsubm Rsubf)/p Where:/p Ke = Cost of Capital; Rsubfsub = Risk free rate; E(Rsubm)sub = Expected Return on the Market Index/p ß = Beta; Rm-Rf = risk premium; /p I am using a risk free rate of 3.957% for Altran Techno in calculating the cost of equity. This is derived from the three month government Treasury bill with a maturity in December 2008. (see appendix) This value (3.957%) indicates the return an investor is likely to receive if invested./p The choice of this rate is prompted by the fact that investors will prefer to invest over a short pe riod of time in order to have a follow up of their investment on monthly basis./p Rsubm return on market/p The market comprise of stocks on CAC40. The market rate (Rsubm) is calculated using the average of the market returns on CAC40 over the five year period (1/01/2003 to 1/01/2008). Base on the fact that my beta is not acceptable, I have chosen not to perform this operation./p Estimating Expected Returns: 1 Jan 2003 to 1 Jan 2008/p I am using the risk premium of 7.08% to calculate my cost of equity (ke) (See appendix)/p Ke = Rfsub + ß (Risk Premium)/p Ke = 3.957 + 1.35 (7.08%)/p Ke = 13.515% Review/Discussion of Cost of Equity Capital/p The study showed us that the Cost of equity capital of the company (Ke) is 13.515 %, which is less than the total risk at 27% and 17% of specific risk, however the use of this to investors point of view include but not limited to:/p a. As a potential investor in Altran Techno this expected return of 13.515% is what can be expected to make in the long term, only if the stock is correctly priced and the CAPM is the right model for risk,/p b) This is the return that the investor needs to make on Altran Techno in the long term to breakeven on investing in stock./p From the perspective of Managers at Altran Techno,/p a. They need to make at least 13.515% as a return for their equity investors to breakeven./p b. this is the hurdle rate for projects, when the investment is analyzed from an equity standpoint./p References:/p https://uk.finance.yahoo.com/q/pr?s=ALT.PA https://www.investopedia.com/terms/b/beta.asp https://geocities.com/vshenai2000/abacus.rtf Bodie /Kane/Marcus; Investments (2008) 7supth edition; McGraw-Hill/p Ross / Westerfield /Jaffe; Corporate Finance (2005) 7supth edition; McGraw-Hill/p https://www.bloomberg.com https://www.aft.gouv.fr/aft_en_21/debt_management_51/main_figures_235/french_government_yield_curve_236/french_government_yield_curve_469.html /p https://www.banque-france.fr/gb/poli_mone/taux/html/page4.htm /p https://finance.aol.com/quotes/autonation-inc/an/nys/fundamentals Bibliography:/p BODIE /KANE/MARCUS; Investments (2002); McGraw-Hill/p ROSS / WESTERFIELD /JAFFE; Corporate Finance (2005) 7supth edition; McGrawHill/p https://geocities.com/vshenai2000/abacus.rtf https://www.bloomberg.com https://finance.aol.com/quotes/autonation-inc/an/nys/fundamentals https://www.aft.gouv.fr/aft_en_21/debt_management_51/main_figures_235/french_government_yield_curve_236/french_government_yield_curve_469.html https://www.banque-france.fr/gb/poli_mone/taux/html/page4.htm /p https://www.investmentweek.co.uk/public/showPage.html?page=344846 /p https://www.banque-france.fr/

Student s Perceptions Of Homeless Persons Essay - 886 Words

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Role of Human Capital in Economic Development Free Essays

Introduction Our research topic is to analyze the relationship between human capital and economic growth. Economic growths important determinant are physical capital, labor and human capital. But from the recent trend of world economic growth, we found that human capital is playing a key role by taking the place of material capital and labor. We will write a custom essay sample on Role of Human Capital in Economic Development or any similar topic only for you Order Now Human capital is intimately related to growth as it increases the nation’s capacity to produce goods and services. It also creates more Job opportunities and lifts the living standards of a country through increase in income levels. Human apital deals with individuals who learn special skills and knowledge trough education at school, training and experience in the labor market (Barro et al, 2000). However, Economic growth refers to the increase in the amount of the goods and services produced by an economy over time Cones, 1996). As a result of their skills and education, productivity level would increase because educated workers would work at a faster pace than less educated workers Human capital refers to the knowledge and skills embodied in people. It is widely recognized that some types of human capital are obtained through experience or nteractions with others and with formal education. Human capital is intimately related to the economic growth. Masses believe that capital means a bank account, stock or factory plants in the industrial area. These are also a type of capital that they are assets that increase income and other useful outputs over long periods of time. But such tangible forms of capital are not the only type of capital. There is another very important type of capital known as human capital. It implies to Schooling, a computer training course, expenditures on medical care, and lectures on the virtues f punctuality, expertise and honesty. It is because these factors are also contributing to raise earnings, improve health, or over all increasing the economic growth rate. Therefore, economists regard spending on training, medical care, education and so on as investments in human capital. They are called human capital because people cannot be separated from their knowledge, skills, health, or values in the way they can be separated from their financial and physical assets. The notion of human capital arose out of the awareness that physical capital alone was not enough to explain long term growth. Many social indicators such as educational enrolments and life expectancy became combined in a common term: human capital. Often, human capital is implicitly referred to as formal and informal education. Yet, it can also contain factors such as the costs of raising children, health costs, and ability. Significance Economic gr n depends on many tactors such as the quantity and quality ot education, how education can impact on fertility rate, government policies to sustain incentives for human capital, a reduction in the cost of technology adoption and increase expenditure on education. Education and other aspects of human capital is important to economic growth because more educated individuals tend to have higher employment rate and earnings and produce more output relative to those who are less educated. Education is considered as a positive investment that allows individuals to be equipped with knowledge and skills that can improve their employability and productive capacities that would lead to higher earnings in the future and hence, economic growth. Moreover, it has shown that it is not only the amount of formal education that matters, but also that the type of knowledge ossessed by labor in a region also plays a key role in determining the level of economic activity. There are various type of education having there own effect on the economic growth such as skilled based education primary education specialized education higher education and education to develop entrepreneur skills, the more the entrepreneurs are in a country, more the business will flourish in that country. As a result, the countrys economy will rapidly grow. The continuing growth in per capita incomes of many countries during the nineteenth and twentieth centuries is partly due to the expansion of scientific and echnical knowledge that raises the productivity of labor and other inputs in production. And the increasing reliance of industry on sophisticated knowledge greatly enhances the value of education, technical schooling, on-the-Job training, and other human capital. New technological advances clearly are of little value to countries that have very few skilled workers who know how to use them. Investment in human capital is long term as compare to the investment on physical capital. It is also a continuous process unlike investment on physical capital. But the outcome of human capital is much greater than other investment. In past decades the healthy human capital countries grew faster than the one where these factors were missing. Economic growth closely depends on the synergies between new knowledge and human capital, which is why large increases in education and training have accompanied major advances in technological knowledge in all countries that have achieved significant economic growth. The outstanding economic records of Japan, Taiwan, and other Asian economies in recent decades dramatically illustrate the importance of human capital to growth. We are going to support the positive orrelation of human capital and economic development by reference on some previous conducted researches. Maudos, Pastor and Serrano aimed to find the role of human capital in the productivity gains of OECD countries form 1965-1990. There research supports the correlation of human capital and economic growth. Their findings suggest a positive the link between human capital and economic development. They concluded that human capital not only is an additional input in the production formula but also is a catalyst for technical change. Thus, the estimation of a stochastic translog production unction shows a statistically significant product elasticity of human capital, and non- parametric techniques confirm its significance as input. Xu, Qi came to conclusion in the research conducted in 2008 that human capital is contributing towards Total factor production (TFP), which is contributes directly to economic development. They concluded that human capital had lower impact in technologically strong provinces compared technologically backward provinces. We have seen that human capital have an impact on the growth rate. But there is various composition of human capital. Various composition of human capital has different impact on the economic growth. How to cite Role of Human Capital in Economic Development, Papers Role of Human Capital in Economic Development Free Essays string(84) " to improve on its social amenities and allocate more of its resources to the same\." CHAPTER ONE INTRODUCTION a)  Ã‚  Ã‚  Ã‚  Ã‚   BACKGROUND Kenya is one of the less Developed countries that are endowed with relatively good levels of resources and labor. However, there are still a lot to be done to tap those resources into viable productivity and industrialization levels. One way of achieving this is by maximizing the use of both physical and human capital. We will write a custom essay sample on Role of Human Capital in Economic Development or any similar topic only for you Order Now In or case we shall consider human capital. Human capital, according to Adam Smith refers to the acquired and useful abilities of all the inhabitants or members of the society. The acquisition of such talents by the maintenance of the acquirer, during his education, study or apprenticeship, always costs a real expense, which is a capital fixed and realized, as it were in his person. Those talents, as it makes a part of his fortune, so do they likewise to that of the society to which he belongs. The improved dexterity of a workman may be considered in the same light as the machine or instrument of trade which facilitates and bridges labor and which, though it costs a certain expense, repays that expense with a profit. Therefore, the greatest improvement in the productive power of labor and the greater part of the skill, dexterity and judgment with which it is anywhere directed or applied, seem to have been the effects of division of labor. Other types of capital being equally important, they can be provided with ease if the private sector and the government, through public expenditure can use the existing human capital to develop and widen the capital stock base, both in domestic production and production of industrial goods. Human capital is therefore a vital factor of production, seemingly the most prominent of all the other types of Capital. Owing to increasing population growth in Kenya, labor is not a hindrance to development. In fact, people export their workforce to the United States of America through the famous Green card lottery. There is more than this in economic development process. Explaining why less developed countries are poor, Robert L. Heil Broner, the author of the book, ‘The Economic Problem, 1970’, said that these are poor countries because they are traditional societies, that is, societies that have developed neither the mechanisms of command nor of the market by which they might launch into sustained process f economic growth. He stressed that as he examines the less Developed Countries he gets a feeling that he is encountering in the present the anachronistic counterparts of the static societies of antiquity. He considered agricultural and industrial capital not to be the only reason for low productivity and economic development. To him, an endemic cause of low par capita output and inc ome lies in the prevailing social attitudes that are vital determinant of human capital development. Typically, people of underdeveloped economy have not learned the economic attitudes that foster rapid industrialization. Instead of disciplined workers they are reluctant and untrained workers. Instead of product-minded businessmen, they are trading-oriented merchants. It’s therefore very necessary to inculcate human capital into the economy of less developed countries. b)  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   STATEMENT OF THE PROBLEM What exactly is the role of human capital and other social variables in economic growth and development of an economy? In the traditional neoclassical growth models developed by Robert Solow and Trevor Swan in the 1950s, the output of an economy grows in response to larger inputs of capital and labor (all physical inputs). Non economic inputs such as human capital or human health variables have no function in these models. However, the endogenous growth models developed by Paul Romer (1980) broadened the concept of capital to include the human capital. The advent of endogenous growth models with human capital (providing externalities) is argued to have enhanced the understanding of the mysteries of rapid and long sustainable high growth performance of some developing countries. However, to establish the point whether healthy human capital was one of the important factors in explaining the economic development for east African countries including Kenya, it will be useful to analyze the actual data on these variables across the countries. This paper therefore seeks to determine if, indeed, human capital has been the factor that has caused a rise in economic growth and development in east Africa. c)  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   RESEARCH QUESTIONS ?   What is the role of human capital in economic development in east African countries?    Is healthy human capital and other non economic inputs are part of the determinants of economic growth in east African countries? d)  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   OBJECTIVES OF THE STUDY ?  To find out the role of human capital in economic development in east African countries. ?  To determine whether healthy human capital and other non economic inputs are part of the determinants of economic growth in east African countries. e)  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   SIGNIFICANCE OF THE STUDY This study is seeking to establish the relationship between human capital and economic growth and development in east Africa. By so doing, we will be able to know with certainty whether human capital is actually one of the reasons for economic growth in east Africa, in which case the findings will be used to establish the right proportion of human capital needed to mix with other economic inputs so as to facilitate sustainable economic development in the region. It also gives an indication of the possible way to rate human capital against other inputs to the economic development of east African community. The findings of this study will help the implementation process of the east African development goals and objectives. This will be possible given the evidence of the role of human capital in economic development, as established in this study. Furthermore, this study will also shed light to east African states on whether to put much reliability on social amenities such as hospitals, schools and churches. If the study finds a positive relationship between human capital and economic development, then it is left with no much option but to improve on its social amenities and allocate more of its resources to the same. You read "Role of Human Capital in Economic Development" in category "Papers" CHAPTER TWO LITERATURE REVIEW In this chapter, we will first consider past theories regarding the field of the study. This is to appreciate the various aspects that are of significance in our study as has been developed in theories. In the traditional neoclassical models developed by Robert Solow and Trevor Swan in the 1950s, the output of an economy grows in response to larger inputs of capital and labor (all physical inputs). Non economic variables such as human capital or human health variables have o function in these models. Furthermore, the economy under such a model conforms to the law of diminishing returns to scale. With these assumptions, the neoclassical growth models afford some implications to the economy; particularly that as capital stock increases, growth of economy slows down, and in order to keep the economy growing it must capitalize from the infusions of technological progress. It is well known that this type of mechanism is the neoclassical model is neither inherent nor does it strive to explain much. In economic lexicon, this simply means that the technological progress is exogenous to the system. Yet the reality is quite contrary to that, especially in East African countries which kept over the years. This implies that it is not only technology which is the main driving force accountable for maintaining such high growth performance in the economies but there are other factors which are outside the realm of neoclassical growth model. Addressing the above issues, in the mid 1980’s, a new paradigm was developed in literature, mostly due to the Paul Romer (1986), which is now commonly known as Endogenous growth models. By broadening the concept of capital to include human capital, the new endogenous growth model argues that the law of diminishing returns to scale phenomenon may not be true as is the case for developing countries. In simple terms, what this means is that if the firm which invests in capital also employs educated and skilled workers who are also healthy , then not only will the labor be productive but it will also be able to use capital and technology more efficiently. This will lead to the so-called ‘hicks neutral’ shift in the production function and thus there can be an increasing rather than decreasing returns to investment. In other words, technology and human capital are both endogenous to the system. Indeed, the advent of endogenous growth models with human capital (improving externalities) have certainly enhanced the understanding of the mysteries of rapid and long sustainable high growth performance of east African economies. Julie Turcotte Lori Whelwel Reninson also studied on technology and human capital. They examined the effects of education, training and technology use on productivity and wages at firm level. They made innovative use of statistics in Canada’s orkplace and employee survey, which allows the linking of characteristics of workers in a firm to firm performance measures. They found that productivity is higher; the intensively the technology is used in the firm, the greater the proportion of university educated workers, the greater the participation of workers in training programs the greater the proportion of workers who get computer training the greater the firm’s exp ort orientation. A key finding with important policy implications is that computer skills training can augment the qualifications of low skilled workers and consequently boost firm productivity. From the theories, therefore, we can correctly postulate that human capital has a role to play in economic development of any nation, especially the developing ones like the east African countries; Kenya Uganda and Tanzania. CHAPTER THREE METHODOLOGY OF THE RESEARCH CONCEPTUAL FRAMEWORK The methodology of carrying out this research is ideally dependent on the various aspects of human aspects such as human health, education and training. In regard to health, we shall consider the mortality rates of the three countries under study. This study will then seek to show the relationship between mortality rates and the level of economic development in the three countries. In respect to education and training, this study will use the level of education and other skills acquired through training. It will then determine the relationship between education and training and economic development for each of the three countries under study. Finally, this study will establish the overall impact of the different trends in education, training and health on economic development of each of the three countries. If we find that there is a positive relationship, then we shall be able to conclude that human capital has a role to play in economic growth and development. On the other hand, if there is a negative relationship, then we dismiss the possibility of human capital playing a role in economic development. RESEARCH MODEL The research model to be developed in this study is that which considers economic growth given by output (y) as a function of both labor and capital, but puts much emphasis on human rather than physical capital. We shall first consider the cob Douglass function given by; Q=Af (L, K): where Q is the level of output, K is the level of capital, L is labor and A is technology. Now, if we assume that the amount of labor is sufficiently provided and that technology is constant, then capital will be the determinant factor in production. If we break down capital into fixed Physical capital and human capital we get; Q=Af (L,Kp,Kh): where Kp refers to physical capital and Kh refers to human capital. Therefore, output is directly related to human capital, and we have to prove this in our study by using relevant variables. DESCRIPTION AND MEASUREMENTS OF VARIABLES The variables to be used in this model will be the two major determinants of human capital. In order t explain the point whether healthy human capital is one of the important factors in explaining the economic development for east African countries, it will be useful to analyze the actual data on these variables across the countries. Although there are many variables that can represent human capital and healthy conditions of the people of a nation, to keep the analysis simple while, at the same time, capturing the basic broad thrust of these two variables, this paper will focus on total literacy rate and life expectancy at birth. Total literacy rate will give us an overview of what we expect as the overall level of education and skill development, while life expectancy at birth will determine the level of health among the citizens of a nation. This gives the overall level of human capital which we shall relate to the level of output, growth and economic development. Life expectancy at birth refers to a measure of overall quality of life in a country and summarizes the mortality at all ages. It can also be thought of as indicating the potential return on investment in human capital and is necessary for the calculation of various actuarial measures. This entry contains the average number of years to be lived by a group of people born in the same year, if mortality at each age remains constant in the future. Literacy rate on the other hand includes a definition of literacy and census bureau percentages for the total populations; males and females. There are no universal definitions and standards of literacy. Unless otherwise stated, all rates are based on the most common definition – the ability to read and write at a specified age. Information on literacy, while not a perfect measure of educational results, is probably the most easily available and valid for international comparisons. Low levels of literacy and education in general can impede the economic development of a country in the current rapidly changing, technology-driven world. SOURCES AND TYPES OF DATA The sources of data in our study are basically the internet, lecture notes, library books and journals and magazines. We shall use available data relating to the life expectancy rates and literacy rates from the internet, government documentaries and articles. We shall also use lecture notes and library books to get the theories of scholars and adopt them in our study. The types of data will be of secondary nature. It will involve data of theories, findings by other individuals or groups, established models and empirical studies. It will also include government documentaries and public opinions as established in secondary data. DATA ANALYSIS In analyzing the data, we shall first quantify the value of each variable using the appropriate society preference schedule. We then tabulate the results, establish the graphs, evaluate the results, interpret and draw conclusions. In summary, the data analysis will involve a systematic process of putting the variables into quantifiable statistics, evaluating them, interpreting and making conclusions. This will include the use of both geometric and mathematical analysis. SCOPE AND LIMITATIONS OF THE STUDY This study will be carried out within Kenyatta university premises in a period not less than three months and not more than four. It will include visits to the library, use of Kenyatta university computers, discussions with Kenyatta university students especially from the school of economics and also consulting lecture notes, perhaps in the study room or in the hostels. There are some limitations to this study just like any other kind of study. First is the intermittent network failure in the school computers. There is also the problem of inadequate books in the library and the school policy not to allow undergraduate students to access research materials from the Africana section of the library. Worse still, is the problem of shallow coverage of the syllabus content by lecturers and the students’ tendency not to cooperate in discussions. CHAPTER FOUR INTRODUCTION The world today is very different from the one which experienced the two world wars. During the second half of the Twentieth century, considerable advancements in science and Technology, along with the establishment of broadly-based Governments and strengthening of institutions, have led to significant Socio-economic progress and improvement in the lives of a large number of people in many countries. However, there are still many others among us who are lagging behind. The current reality in the East African region is the existence of significant differences in the state of economic development among countries. For instance, when GNP per capita income is taken as an indicator of economic development (see figure 1. 1), the figures for Kenya, Uganda and Tanzania. Fig 1. 1 1999 | KENYA 1600 | UGANDA 1060 | TANZANIA 550 | 2000 | 1500 | 1100 | 710 | 2001 | 1000 | 1200 | 610 | 2002 | 1020 | 1260 | 630 | 003 | 1000 | 1400 | 600 | 2004 | 1100 | 1500 | 700 | 2005 | 1100 | 1800 | 700 | 2006 | 1200 | 1900 | 800 | 2007 | 1700 | 1000 | 1300 | 2008 | 1600 | 1300 | 1300 | 2009 | 1600 | 1200 | 1400 | 2010 | 1600 | 1300 | 1400 | Given the vastly divergent economic development among the three countries, it would be a common myth to presume that the discrepancy in development is somehow inherited by the respective groups of countries. Contrary to this general perception, it is quite an enigma to note that, this had not been the case in the past. In fact, figure 1. 1 distinctly shows that economic development measured in terms of GNP per capita in the early 2000 for these countries except Kenya was quite similar and comparable to the extent that they were below 1200 USD mark. In light of the above, the pertinent question is: what factors led to this exceptional economic development for some countries (i. e. , East African developing countries) in the last three decades? Obviously, the factors could be numerous, ranging from social to cultural, from economic policies to institution development, geographic location to opportune time. In this paper, however, rather than focusing on all these factors together, which of course is beyond the scope of this study, only the socio-economic factors, particularly the human capital dimensions, are briefly investigated across the group of countries to establish the possible role and linkage of human capital with economic development. HUMAN CAPITAL AND ECONOMIC DEVELOPMENT In inspecting the total literacy rate data for various East African countries in figure 1. 2, it is intriguing to note that even in the 1990s when most of these countries were at similar stages of economic development, Kenya was far ahead of both Uganda and Tanzania. In fact, the total literacy rates for Kenya in 1995 was as high as 78. 1 per cent, 67. 8 per cent for Tanzania and even Uganda had a rate of over 61. 8 per cent. After three decades, while Kenya and Tanzania have somewhat ameliorated their human capital, the total literacy rates are still far below 70 per cent in the case of Uganda as shown in figure 1. . During the same period, however, Kenya and Tanzania have more or less achieved the formidable task of educating most of their people. As a result, in the late 2003, the total literacy rate of the Republic of Kenya has reached 85. 1 per cent and Tanzania managed to achieve a rate of about 78. 2 per cent. Fig 1. 2 | KENYA | UGANDA | TANZANIA | 1995 | 78. 1 | 61. 8 | 67. 8 | 2000 | | 62. 7 | | 2002 | | 66. 8 | 69. 4 | 2003 | 85. 1 | 69. 9 | 78. 2 | Analyzing the health variable measured in terms of life expectancy at birth across the three groups of countries in the East African region, like the literacy rate, again a similar sort of pattern is evident among these countries. For instance, in 2000, all East African countries had a Life expectancy at birth below 50 years except Tanzania with Uganda having a figure of even much less than 45 years as shown in figure I. 3. On the other hand, during the same period, Tanzania had a life expectancy at birth well over 50 per cent with the Republic of Kenya having a figure almost 50 years (47. 98 years). In 2011, although East African countries enhanced their life expectancy to a level of over 50 years, Tanzania and Uganda, in this context, is far more stagnant, as shown in figure 1. 3. In the case of Kenya, the life expectancy rate is now in the order of over 55 years. Fig 1. 3 | KENYA | UGANDA | TANZANIA | 2000 | 47. 98 | 42. 93 | 52. 26 | 2001 | 47. 49 | 43. 37 | 51. 98 | 2002 | 47. 02 | 43. 81 | 51. 7 | 2003 | 45. 22 | 44. 88 | 44. 56 | 2004 | 44. 94 | 45. 28 | 44. 39 | 2005 | 47. 99 | 51. 59 | 45. 24 | 2006 | 48. 3 | 52. 67 | 45. 64 | 2007 | 55. 31 | 51. 75 | 50. 71 | 2008 | 56. 64 | 52. 34 | 51. 45 | 2009 | 57. 86 | 52. 72 | 52. 01 | 2010 | 58. 82 | 52. 98 | 52. 49 | 2011 | 59. 48 | 53. 24 | 52. 85 | What can one infer from the discussions so far? First of all, the empirical data overwhelmingly incarnate that, in the past decade, the three East African countries considered in this paper started with a similar state of economic development but now, in 2011, there is a marked dif ference among them on account of their per capita incomes. Kenya is now well beyond the reach of Uganda and Tanzania in 2011 in terms of economic development. Tanzania, on the other hand, is overtaking Uganda as depicted by the economic growth in terms of GDP per capita in 2011 in fig. 1. 2. Secondly, although in terms of per capita income all these countries were quite comparable in the early 2000, nevertheless, in the context of human capital and health sector development, there were huge differences among them; Kenya and Tanzania were, by far, ahead of Uganda. In the 1990s, most Kenya’s population were literate while Uganda and Tanzania still had a long way to go. Thirdly, based on the facts presented earlier, it is evident that the onslaught of East Africa developing countries’ rapid economic progress in the 1990s occurred along with their reasonably well developed and healthy human capital endowment which started to take momentum in the 1960s or even earlier. It is the view of the author that, for human capital to spawn a perceptible impact on economic development, a nation needs to have a minimum captious mass of at least 70 per cent or more literate population. What this means is that if an overwhelmingly large number of people in a country are literate, even with simple basic education as being able to read newspapers, this may open up the minds of the masses, possibly make them more enlightened workers and perhaps institute some element of discipline in them. These are, of course, some of the essential prerequisites for a large organized production to run efficiently and for leading to rapid growth. Through mass literacy, better prepared healthy workers and conducive investment friendly government policies, Kenya and Tanzania seem to have been able to furnish those essential elements of rapid growth at the very early stages of their development. And, therefore, at the dawn of globalization in the early 1980s, Kenya and Tanzania were befittingly prepared to attract large sums of foreign investments thus accomplishing rapid economic progress. On the other hand, during the same period, unfortunately Uganda was neither primed in terms of human capital endowments t large nor were its government investment policies responsive enough to allure foreign investors in sizeable quantities to trigger rapid economic growth. Thus, in a mere two decades, Uganda lagged far behind Tanzania and Kenya to the extent that any catching up in the near future by the former country to the level of the latter countries would be a very challenging onus. As shown by the GDPs per capita, Kenya still maintain s its High level of 1600 USD as it was in 1999 and Tanzania has rose fast to 1400 USD from 550 USD of 1999. On the other hand, Uganda seems to stagnate around 1300 USD. These results are due to the well developed human capital base depicted by literacy rates and life expectancies of Kenya and Tanzania in figures 1. 3 and 1. 4 respectively. What led to the divergence in human capital among nations? As demonstrated above, a well developed human capital base of a nation played an important role in economic development and, on this count, Kenya and Tanzania were far ahead of Uganda even at the early stages of economic development. A germane public policy question, in this context, is how Kenya and Tanzania managed to delude such a well developed human capital base as compared to Uganda even when the per capita incomes for all these countries were rather similar as shown earlier. In other words, for all practical purposes, in the 1990s, all these groups of nations could be contemplated as equally rich or equally poor, yet in terms of human capital development they were distant apart from each other. What led to this significant divergence in the human capital development among these groups of countries? This study argues that it is the direction of a nation’s priorities and commitments measured in terms of actual resources devoted towards the education sector that led to such differences in human capital among the groups of countries. Since independence and now in the new millennium, however, the disparities in per capita expenditure on both education and health between the three countries are staggering. For instance, data from CIA world fact book shows that the Kenya’s government spending on education as a percentage of GDP in 2006 was 7%. Uganda’s spending on education as a percentage of GDP was 3. 2% in 2009 while that of Tanzania in 2008 was 6. 8%. The world fact book’s data government’s spending on health in the last decade also shows that Kenya spends more as a percentage of GDP as compared to Tanzania and Uganda. Kenya’s spending was 12. 2%, Uganda’s spending was 8. % while that of Tanzania was 5. 1%. These data show that Kenya spends more of its GDP on health and education than any other east African country. Therefore, it is correct to say that a country which is committed to providing education and good health to its citizens is able to make use of its human development in an economically productive manner, hence raising its GDP per capita and its economic growth and development. CHAPTER FIVE GESTATION PERIOD FOR HUMAN CAPITAL INVES TMENT Given the acceptation of human capital investments towards Economic development, a pertinent question is whether the time taken or the gestation period of such investments to proliferate intended Impact in terms of literate skilled workers is comparable to that of physical infrastructure investments such as roads, highways and hydroelectric dams. It needs to be underscored that, while the physical infrastructure investments may ordinarily take a long time to be completed, however, the impact period for human capital investments could be even longer if it is to forge results. Not only that, while it may even be possible to abbreviate the gestation period of physical infrastructure investment by apportioning more resources through borrowing or foreign aid, the same cannot be said for human capital. Notwithstanding of the size and pace of human capital investments, it will necessitate a fixed number of years (say five years for a primary high school or eight years for secondary education) to shape a generation of educated and skilled labor force. Another important distinction between physical infrastructure and human capital investments is that the former type of investment customarily requires one-time capital expenditures while the latter category enjoins investments on an interminable basis. For instance, once a hydroelectric dam project is completed, it is expected to generate electricity for a long time without entailing future heavy capital expenses. On the other hand, to mould a generation of educated workers will entail investments in human capital on an incessant basis. Thus, the return of the social sector investment is a long term continuous proposition and, therefore, its affiliation with economic growth and development should be delved and analyzed within a framework which has a longer perspective. This proposition is also empirically substantiated by the author for Pakistan in two other earlier studies (Pasha, Hassan et al, 1996a, and 1996b). Based on a large, over 200 equations dynamic econometric model of Pakistan, the findings of these studies insinuated that a shift in the investment priority to social development (i. . , education sector) would entail enduring positive impact on economic growth but with long lags of about eight years. The results of the studies further suggested that, in the short to medium term, the impact of human capital investment on economic growth for the country may not be noticeable; however, after the critical time period of eight years the economic growth for the country will be substantial and long-lasting. CONC LUSION How relevant is this study to public policy? First of all, the study empirically found out that in the past decade, among other things, the east African nations broad based healthy human capital (such Kenya and Tanzania) grew faster than the ones with less human capital investment (such as Uganda), where the elements of human health were missing. Thus, the empirical results in this study corroborated the premise that there is an important link between healthy human capital and rapid economic development of any country. This link can be illustrated mathematically by deriving the cob Douglas function and modifying it to include the aspect of human capital. In this sense, we take a country’s GDP represented by its output Q as a function of labor, human capital and physical capital. The function is represented by the linear equation; Q=Af (L,Kp,Kh): where Kp refers to physical capital and Kh refers to human capital. Therefore, output is directly related to human capital, just as the results of our study have shown. Secondly, the study also found that, under similar economic Predicaments with comparable per capita, Kenya and Tanzania were investing far more in human capital and health sectors on a per capita basis than Uganda. This result substantiated the point that it is the commitment and priority of a nation rather than other economic factors alone that led to more economic growth and development in Kenya and Tanzania as compared to Uganda. Even when they were all equally endowed with resources, and in fact Uganda was doing better in earlier years than Tanzania in terms of GDP per capita, but is now lagging behind. Thirdly, it is important to acknowledge the fact that there is a distinction between investments in human capital versus physical capital. The finding of the study, in this context, upholds the view that, while it is possible to cut down the gestation period of physical infrastructure the same outcome, however, may not be possible for human capital investment. Unlike physical infrastructure investment, human capital development investment is a long term as well as continuous proposition. Commitment and public policy are very simple and unpretentious. In the 1990s, most countries in the east Africa were remarkably analogous in terms of their economic development. However, at the dawn of the new millennium, although Kenya and Tanzania have made some economic progress, these countries are still attributed to their earlier copious investments made in human capital. What policy options and choices are available to the Uganda under the prevailing circumstances to improve economic development and to catch up with the other east African countries? It is the view of the author that it will have to adopt similar policy options that Kenya and Tanzania did in the 1960s – that is, to deeply commit and heavily invest in human capital development. This study has shown that there is no shortcut procurable in terms of educating the masses of a nation and in the event these countries demonstrate any laxity in building up a broad human capital base sooner than later. This is likely to be a recipe of postponing the impending quagmire to a future date. REFERENCES Hafiz Pasha, M. Aynul Hasan, Aisha Ghaus and M. Ajaz Rasheed, Pakistan†, Pakistan Development Review – 579. , 1996b. â€Å"An integrated planning model and expenditure on social development: the case of Pakistan,† 2) Romer, Paul, 1986. Increasing returns and long-term capital†, Journal of Political Economy, Vol. 94, pp. 1002-1020. Wishart, M. D. , Principles of Microeconomics, 4e, 2005. Stamford, Thomson publishing. Robert, L. H. , The Economic Problem, 2e, 1970. New Jersey, Englewood. http//:www. ciafactbook. com http//:www. gisdevelopment. net Republic of Kenya (1965). African Socialism and its Application to Planning in Kenya, Nairobi. Governmen t press. Todaro, M. P. , Latest edition, Introduction to Economics for a Developing World. Oxford. Chapter 24. How to cite Role of Human Capital in Economic Development, Papers

Government Regulation Of Monopolies-Free-Samples for Students

Question: Explain how and Why Governments May Want to Regulate the Price Setting Of a Natural Monopoly. Answer: Introduction A monopoly arising out of high fixed costs or start up costs is termed as a natural monopoly. An industry where natural monopoly persists requires unique raw material, specialized technology and other factors which are necessary to operate. The government run public services such as water; electricity and telecommunications are most common examples of Natural monopoly. Generally natural monopolies tend to have high infrastructure cost(Haworth). The concept of Natural monopoly was characterized by John Stuart Mill, who was of the opinion that prices would throw back the cost of production in lack of natural monopoly. In order to have good return on investment it has to acquire a large number of customers. Therefore it is stated that industries which bear high start up cost tend to have low average cost because with huge amount of customers, the output tends to increase(Crugman, Version 7). Let us explain the natural monopoly situation with the help of an example: Demand P = 120-Q Marginal Revenue MR = 120-2Q Average cost AC = 15+ (400/Q) Marginal Cost MC = 15 The average cost has a direct relationship with Marginal cost, because as the AC increases MC tends to remain below the AC. In a natural monopoly AC tends to decline with increasing quantity of output(J, 2012). In the above example if the monopolist is allowed to set its own price and output, then the condition implied would be MR=MC 120-2Q = 15 i.e. Q = 52.5 P = 120-52.5 = 67.5 With the increase in elasticity of demand the monopolistic prices can be broken down. The competitors tend to increase the demand elasticity which implies that if prices are increased part of your demand will go to other competitors in the market(Kadariya, 2014). There are various characteristics of Monopoly. Some of the characteristics includes: Unique vendor, As the market is prevailing with only a single vendor in the market he takes the opportunity to control price and supply of the goods. Due to its uniqueness there are multiple buyers in the market so he has no control over the demand for the goods. No alternate supply sources,(Kumar) The goods in the market doesnt have any alternate products available so there is monopoly of the products. This bounds the customer to go for one product only as they have no choice available to choose its products. Price: As the control lies within the hands of monopolist, he can charge any price from its customers for the same product which creates price discrimination. Restriction to entry: The new entrants cannot enter the market as the power lies in the hands of the monopolist(Patel, 2010). There are many obstacles for the new competitors to beat the already existing supplier. Firm and Industry: As there is only single firm operating in the market, there is no difference between a fir m and an industry. Reasons of the rise of the monopolies are: The essential cause of monopoly is the survival of barriers to entry. Barriers to entry have three forms of origin: Ownership, the government gives the administrative control to single organization to produce exclusive goods, efficiency of one single producer in the cost of production rather than having multiple numbers of producers. The various forms of Natural Monopoly are Regulated Natural Monopoly and Unregulated Natural monopoly. The monopolist can enhance its profits by generating the quantity of output, where MR = MC. This is known as unregulated natural monopoly. The outcomes of unregulated natural monopoly are: Taking advantage by over-charging the customers The Monopoly power lies in the hands of one seller Unethical resource distribution Operational wastefulness To bring unregulated Natural monopoly under control natural monopolies must be regulated. There are fair chances that a firm may incur economic loss, if an organization is regulated to produce optimal quantity of output(Schenk, 1997) Government should provide subsidy to the firms in-order to eradicate economic loss The subsidy provided by the government and price regulated natural monopoly has been explained with the help of a diagram The various ways to control Monopoly if subsidies are not provided by the government are mentioned below: Zero Economic Profit/Balance Output, Natural Monopolies are often standardized to earn Zero Economic Profit. In this situation a firm doesnt expect subsidy from the government. But it can lead to certain difficulties: Lack of control over cost Regulators may find it difficult to acquire accurate information Production and Pricing decision made by a Natural Monopoly, The major variance between a competitive firm and a natural monopoly is its economies of scale i.e. a monopoly firm can influence the price of its product according to its output. An industry which is more competitive has to set the prices as per the prevailing market conditions whereas a monopoly can set the price of its product as per the output availability. The demand curve of a monopoly firm is mostly downward sloping whereas competitive markets have horizontal demand curves. Analysis: Now a question here arises that is monopoly preferable over other market forms? From the point of view of the customers monopoly is not a preferred market as the customer can be overcharged due to no close substitutes available. From the point of view of the monopolist, it is desirable as the producers and suppliers earn huge profits The ways of Regulating Natural Monopolies are mentioned as under, Regulation is common amongst natural monopolies i.e. firms which supply electricity, water and provide telecommunication services. These firms are generally government owned firms. The prices charged by these firms are fixed and regulated by the government authorities. The price set by the government for the products and services of a monopoly firm cannot exceed the marginal cost. In US countries most companies are monopoly regulated. The cost structure and the demand of a natural monopoly firm is so incomparable and doesnt let the competitive firms enter the market easily. The few methods to control Monopoly are discussed below: Legislative Method, By taking legal actions against the monopolist a government can regulate the price of the products. The basic objective of having more monopolies is that the government doesnt want intervention of private firms more in the industry. Control over price and volume produced, In a natural monopoly the government plays an important role in either controlling the output produced or the price of the products. Nationalization, converting the private firms into state ownership firms is of utmost importance where inflation is on rise. Government may decide to take over all the companies who are enjoying monopoly power in the market. Consumers Association, the enlargement of monopoly power can be easily controlled by insisting the formation of consumer associations to enhance the bargaining power of the buyers. Antitrust Policies (the main advantage of anti-trust policies is to avoid business practices that either create or maintain a monopoly) may not be appropriate if monopoly is caused due to increasing economies of scale. The two major anti-trust laws are Sherman Antitrust act which came in the year 1890 and the other law is Clayton anti-trust act. With increasing returns one large firm can produce at a lower cost than several small firms. The most eminent point that emerges from economic study of regulation is that the publicly stated rationale for government action may differ from its original. The important question that arises from regulation is: Why does the government feel that government intervention is a must for running large business? By regulating the market it helps the small companies to enter the market easily and preserve competition. For example, the dominance of Microsoft in recent years has raised the question of whether its practices are monopolistic. Because the corporation controls the majority of the market in nearly all of its markets, there is an overwhelming social pressure for regulation. The earliest regulatory measures were not as focused on competition, however. The goal was to protect the consumer. For example, the Grangers (19th Century farmers) felt that they were being oppressed by unfair practices of the railroads. There was great social unrest in this population because of the practices of large corporations. To avoid revolt and turmoil, the state government passed the Granger Laws. This group of legislation was essentially an attempt to appease the troubled farmers. It was not until the end of the 19th Century and the beginning of the 20th that regulation made the turn toward preserving competition. Another trend in regulation is the unfortunate tendency of legislation to have little effect. Most of the laws created to control railroads were simply ignored by the large corporations. Similarly, the action of the Federal Trade Commission against Microsoft is often viewed as a trifle. Judge Stanley Sporkin rejected the June 1995 decision regarding the Microsoft monopoly, saying that the ruling was a mockery and that stricter control must be taken. Most attempts at federal regulation have been mediated, modulated, or amended until they lose much of their original bite. Conclusion: To curb the growth of corporations social and government presence is a must. The dangers of allowing one company to assume supremacy over a market have frightened the government into regulation. Though, in many ways, the legislation fails to achieve its original goal, governmental regulation has become a standard in interstate and international commerce. America was founded on the principle of free trade and freedom of competition. Therefore, the government has assumed the responsibility of preventing the formation of monopolies and curbing unfair practices of large corporations. Owing a firm is one way of controlling natural monopolies. For instance, in the United States, the federal government owns the United States Postal Service, and in Europe, many governments own and operate utilities, such as water and electricity. The main difficulty with government ownership is that these monopolies are operated by bureaucrats, and more often than not, they are unionized, so they have little incentive to operate the business efficiently or to provide good service to the taxpayer. Indeed, if technology were available that increased the efficiency of the monopoly; the bureaucrats would probably reject it to protect their jobs. Furthermore, the bureaucrats act as a special interest group that actively works to enrich itself at the expense of the taxpayers, especially if they are unionized. Operating monopolies normally do not worry about the competition Bibliography Crugman, P. (Version 7). Regulation of Natural Monopoly. In Boundless Economics. Boundless. Haworth, B. (n.d.). Retrieved from natmonop. J, P. (2012). Microeconomics, Pearson education. England. Kadariya, S. (2014, May 25th). Retrieved from Natural Monopoly. Knownai. (2011, Sep 12th). Advantages-And-Disadvantages-Of-A-Monopoly-Market. Kumar, M. (n.d.). Top 3 Methods of Controlling Monopoly. Patel, N. (2010, Oct 29th). In-what-ways-are-monopolies-good-for-an-economy. Rashma. (n.d.). Understanding Monopoly : Government Measures to Control Monopoly in India. Schenk, R. (1997). Regulation. Stanford, C. (n.d.). Government regulation of monopolies. Welker, J. (2013, March o4). monopoly-prices-to-regulate-or-not-to-regulate-that-is-the-question

Blogging Tips Guru

For those who write facilely and joyfully, the appeal of earning money from doing what comes naturally is nearly irresistible. Even for those for whom writing is a chore, the lure of getting paid to share hard-won insights, innovative ideas, and whatever else populates their mind, is hard to refuse.Advertising We will write a custom article sample on Blogging Tips Guru specifically for you for only $16.05 $11/page Learn More Bloggers have a number of ways to make an income from blogging, some of them arising from displaying ads in the web page. However, this is a big step, and should be undertaken only when you are ready for it. Let’s look at some of the considerations needed in the decision process. Some blogging advisors recommend starting the effort to make a blog earn some money, even if the amount is miniscule, right from the start. Their view is that your readers need to get used to paying for your fabulous content, even if only by putting u p with ads on your blog page. This makes a good deal of sense, given the kicking and moaning that has results when bigger scale webpages have begun adding paid promotional material, or charging a fee to readers. Another intriguing advantage that could accrue from having paying ads right from the start is that the income, no matter how tiny, represents a source of inspiration and motivation to keep up the good work and stay on a tight schedule of writing output. The downside of starting out as a blog with ads is two-fold. You probably already know that an advertising network such as AdSense, from Google, will not even approve you for ads unless you are fully functioning as a website – you need to have your page fully set up. Once you are posting regularly, it is more challenging to attract ads on your page if you do not have masses of traffic yet. This obstacle cannot be overcome except by getting and keeping reader traffic. The other problem is credibility. Your freedom from sponsorship gives you an air of independence from outside pressure in expressing your untrammeled opinion. Readers like this sort of apparent freedom from external influence on the part of writers. However, if you can get ads, and want to, for example, through AdSense , or BuySellAds.com , this can be a blessing or a burden. The blessing part is easy to comprehend. Of course, we all would like to have someone paying us. However, keep in mind that advertisers want their ads seen by lots of eyes. You have to prove to them that you can assure that they will get access to those eyes.Advertising Looking for article on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Then your blog has to come through consistently with the numbers of visitors that will justify advertisers’ paying for the privilege of appearing on your page. Making this happen can be a challenge and a stress on you the blogger. You need to be prepared to p roduce – or acquire – content every day, week, or month, to keep your readers coming back. If you are not up to this task, then you are probably not ready to monetize your blog. Perhaps one compromise is to announce to your readers early on that this could be in the offing, to alert them that some sort of monetization will be part of their reading experience at some point in the future. Your readers will not feel that you have hoodwinked them if you are successful in attracting ads, obtaining a partner organization in order to publicize their product or service, or begin selling your own product or service. Some pundits in the blogosphere name the figure 300 as a target for a daily number of visitors to your blog. At three hundred unique visitors a day, your blog is reaching more than your mom, your grandparents, your kids, and your BFFs. This makes some sense. You have traction at that point. However, note the mention of unique visitors. The raw number of visitors is but one important factor. The type of visitors, and what they do, and where they come from, are also important factors. There are many ways to find out who your readers are. These include analytics, such as information on your site rankings, and information on where your readers are and what time they are accessing your webpage. but they also include the far more in-depth information that you can obtain about your readers via your interactions with them on social media. Have you not noticed how much more lively a blog page seems when there is a substantial list of comments and responses from the blogger? It creates a community for the sharing of ideas and innovation, support and encouragement, and inspiration. This sort of interaction is where a blogger finds out what sorts of content will meet the needs of the readers, however few or many. You want to know what interests them, what sites they visit regularly, and how they found out about your blog, for example.Advertising We w ill write a custom article sample on Blogging Tips Guru specifically for you for only $16.05 $11/page Learn More The needs your readers express in your communication with them via social media can inform your choice of websites on which you might consider trying to be a guest blogger. Writing guest blog posts in other people’s webpages and including links to your blog page is a rather subtle and non-intrusive way of obtaining more visitors. You can return the favor by hosting some guest blog posts on your own blog page. This is also a way of testing the waters regarding your audience’s willingness to support you even if you display ads, or promote an affiliate product or service. Thus, you can look for the following markers to signal your readiness to monetize your blog: A working blog page Good content that bring readers back for more Your own preparation to produce original content on a regular basis Absolute numbers of at least 300 unique v isitors daily An emerging pattern of readers referring other people to your blog Active engagement between you and your readers A clear sense of who your readers are and what they want to see in your blog and perhaps in products you promote Lay the groundwork early, but hold off until you can be sure of giving both your readers and your advertisers what they want. This article on Blogging Tips Guru was written and submitted by user Nathaly G. to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.

Women and War essays

Women and War essays War is a very difficult time for many people in life. Women should have an active role in the defense of this country because women enjoy the benefits of living in this fine nation, females are capable of developing the strength required through intense training, and they have excellent minds to be able to make great decisions in time of war. Women have fought for many years to have equality, and after a long struggle, they have been able to achieve many forms of equality in society. A few examples of equality are the rights to vote, equal pay for equal work, ability to own property and a variety of other benefits. We all want to be able to grow up in a society where people are allowed to say what they want and do what they want as long as it doesnt harm other people. So both men and women should be fighting to defend these rights. One place, though, where there is not equality is in the military. Women are allowed to enlist in the military, but they are not allowed to go into combat. If a woman desires to defend her country, she should be given that right. A woman, if forced to undergo vigorous training, would be capable of developing the strength required to go to war. Women also have the capability of learning how to use a gun. On average, women are better marksmen than men are. The reason for this is the fact that women have a more steady body than men. Men are more prone to have a slight shake to them. If a woman has the strength of a man, she would be able to fight adequately, and she should be given the opportunity. Women tend to be good thinkers. An example of how women are better thinkers then men is when it comes to reading directions, men usually figure who needs them I will figure it out sooner or later where a women is more prone to read them. Men are more likely to react before they think things through. A women on the other hand will think fast but think about what they are doing is going to ...

Management report about the organisation. Case of Pentangelli Essay

Management report about the organisation. Case of Pentangelli - Essay Example In this report, an analyses of the case of Pentangelli, a restaurant, has been presented. The report presents and criticise the reward strategies followed by the management of restaurant to manage the overall performance of the employees. At the same time, the reports also presents different recommendations for formulating effective and efficient reward and development strategy, which can be used by the management of Pentangelli. In this last, the report presents different challenges which have to be faced by the management of Pentangelli while formulating new reward and development strategy. TABLE OF CONTENTS EXECUTIVE SUMMARY 1 TABLE OF CONTENTS 2 INTRODUCTION 3 PRACTICES OF REWARD AND DEVELOPMENT AND ITS IMPORTANCE 3 REWARD AND DEVELOPMENT PRTACTICES FOLLOWED BY PENTANGELLI 4 APPRECIATION AND RECOGNITION 4 REPUTATION MANAGEMENT 5 PROMOTIONS 5 CHALLENGING WORK 5 OPPORTUNITIES FOR GROWTH AND DEVELOPMENT 6 PRACTICES OF REWARDS AND DEVELOPMENT WHICH CAN BE ADOPTED BY PENTANGELLI 6 SHARING OF PROFIT 6 EMPOWERING THE EMPLOYEES AND DECENTRALIZED DECISION MAKING 7 PAID LEAVES 7 MEDICAL BENEFITS AND INCENTIVES 8 CHALLENGES FACED BY THE PENTANGELLI WHILE DEVISING A STRATEY FOR REWARD AND DEVELOPMENT 8 CHALLENGES IN PROFIT SHARING 8 CHALLENGES FACED IN PROVIDING PAID LEAVES 9 CHALLENGES RELATED TO CENTRALIZED DECISOIN MAKING 9 ... This report aims to analyze the organizational structure of Pentangelli and the rewards system that can boost up the performance of its employees. Pentangelli is a chain of restaurants. The analysis of the structure will find out that how the organizational structure of this restaurant has impacted on the performance of its managers. The role of rewards and benefits is also analyzed to see their impact on the employees’ motivation and job satisfaction. The analysis of organizational structure will help to make appropriate changes in the structure to get the desirable outcomes. The reward system will be designed after analyzing that what benefits and compensations will attract the most to the employees of the restaurants. The rewards will be designed in such a way that will boost up the performance of employees in the organization. The impact of performance management techniques will also be analyzed for making the recommendations for proper performance management system in a c omplete chain. PRACTICES OF REWARD AND DEVELOPMENT AND ITS IMPORTANCE It has been identified in several researches that reward and compensation system has a highly considerable impact on the performance of employees (CIPD, n.d.). The rewarding system leads to the motivation of employees and employee motivation is the basic driver of job satisfaction (Hutchinson, July 2013). A good reward system is also used to improve the relationship of employer and employees in the organization. There are two types of reward system that are financial and non financial. It has been determined in several researches that Non financial rewards comparatively have two or three times greater impact on the employees’ motivation, Maritz (2007). REWARD AND DEVELOPMENT PRTACTICES

Critique of Association between Clinical Manifestations of Complicated Assignment

Critique of Association between Clinical Manifestations of Complicated and Uncomplicated Peptic Ulcer and Visceral Sensory Dysfunction Article - Assignment Example The article was definitely useful in furthering research on complicated peptic ulcers in terms of identifying other significant manifestations, especially in cases where visceral sensation and early symptoms are not evident. Since the age factor has been critically identified as an important contributory factor that diminished visceral sensation, medical practitioners who suspect patients suffering from BUP must be vigilant in addressing the illness through more effective medical interventions. The conclusion of the authors that â€Å"identification, elimination, and management of risk factors are essential for reducing the incidence of BPU† is appropriate and concisely accurate. Other research studies on the subject particularly the article written by Dr. Sidney Cohen indicated that â€Å"the typical ulcer tends to heal and recur. Thus, pain may occur for days or weeks and then wane or disappear. Symptoms can vary with the location of the ulcer and the person's age. For example, children and older people may not have the usual symptoms or may have no symptoms at all. In these instances, ulcers are discovered only when complications develop† (Cohen, 2006, 1). As indicated, older people have greater tendencies not to manifest any significant symptoms to immediately address the illness. However, due to the age factor per se, regular and frequent monitoring of the stomach should be part of medical check-ups even when patients do not complain of discomfort or pain.

Discuss the implication of globalization for the organized labour Essay

Discuss the implication of globalization for the organized labour movement in rich countries - Essay Example The process of globalization, with the liberal economic policies, which have been adopted by many countries, has come to weaken the strong foundation upon which many trade unions have been built. Globalization has intensified the economic competition among the various developed nations of the world and to increase this competitiveness, these countries have adopted very liberal trade policies to ensure that their products remain at the top of the global market. These new policies have had an impact on trade unions in very negative way because one of their key parts are the legal restrictions which have been placed on the rights of workers for the sake of a higher efficiency of the economy. A major consequence of these restrictions has been the fact that trade unions in these countries have come to lose those rights, which they had struggled for many years to gain, and this has ensured that the political foundations of such trade unions have been increasingly weakened1. At the same tim e, the liberal policies that have been brought about by globalization have been creates more in favor of the employers than the workers. These policies advocate for the flexibility of the labor market and this has meant that the labor market has been deregulated and that employers have been empowered in areas the hiring of workers, their firing, the choice of how much to pay them, as well as the choice of the use of labor. As a result of this, informal employment and other cheap forms of labor have become prevalent because employers prefer them not only for the cheapness of wages paid to them, but also for the fact that they do not have to cover them in such matters as insurance and safety. This has made it very difficult for trade unions to be able to organize workers into the powerful force that they previously were because many of these informally employed people are not members of unions. The swift change in the development of equipment as well as the globalization of the econom y has led to the acceleration of structural adjustment. With the division of labor on the international scene, some of the developed countries have opted to shift those enterprises that they consider labor intensive to other countries where there is cheaper labor. This has led to the trade unions in these countries to lose those industrial sectors, which had been their traditional bases of support. To add to this, the use of new technologies in such traditional industries as steel, manufacturing and construction has led to the drop in the demand for labor from these industries due to the fact that most of the labor within them has become redundant. Moreover, the traditional ways through which trade unions worked have been challenged by the development of the Information Technology and other related industries, and it is against this background that trade union activities in developed countries, are on the decline2. Globalization has enabled the speeding up of the work of trade union s at an international level. Trade unions have developed as a product of the social and economic conflicts that have been brought about by industrial disputes. They gain their legitimacy through their legalization at a national level and they function as the protectors of the rights of the workers who fall within their jurisdiction. Due to the globalization

George Orwell and Langston Hughes

George Orwell and Langston Hughes George Orwell and Langston Hughes Both George Orwell and Langston Hughes had external and internal pressure in their stories. With their stories â€Å"Shooting an elephant† and â€Å"Salvation† this paper will compare and contrast the two authors. This will be done by relating the authors stories to Milgrams Experiment, which was a series of social psychology experiments conducted by Yale University psychologist Stanley Milgram, which measured the willingness of study participants to obey an authority figure who instructed them to perform acts that conflicted with their personal conscience. â€Å"Perils of Obedience,† written by Stanley Milgram shows that a majority of society supports authority figure regardless of their own personal ideals. Milgram says to the reader, â€Å"For many people, obedience is a deeply ingrained behavioral tendency, indeed a potent impulse overriding training in ethics, sympathy, and moral conduct† (Milgram). Both Orwell and Hughes provide incidents that support Milgrams findings. Orwells story â€Å"Shooting an Elephant† can be used as an example for Milgrams because Orwell knows he does not have to shoot the elephant, yet he does it anyway. Throughout the story Orwell is increasingly pressured to kill the elephant by the Burmans because the elephant had killed a person. As the story is read one can start to see the connection of Milgrams experiment to Orwell shooting the elephant to save his own life. Orwell can see the rage the Burmans have toward the elephant because it killed a person, and knows he must kill the ele phant to please the Burmans. In this quote, The people expected it of me and I had got to do it: I could feel their two thousand wills pressing me forward, irresistibly† (LMR 143), One can see to force which is pressed upon him. Hughes shows himself as a little boy at a church revival where he show are own behavioral tendencies toward obedience. When Hughes is at this revival his has pressure not only to make everyone in church happy but to also please his aunt by being saved by Jesus. During this time all the adults are going around the church sing different song about being saved so that the children will be saved and as children start to get up he is felling more and more pressure until there is only him Westley. Westley decides to get up and lie just so he could go home. This act gave Hughes a way to be obedient to the church and his aunt. Hughes got up and said he had been saved to so everyone would like him. This story is the perfect example of how a person can have so much pressure that he must be obedient and lie to save himself. Both stories can be said to connect to Milgrams experiment, but only one of the characters could have chosen another way of doing things. While Hughes would no matter what had to have sat up eventually, Orwell did not have to shoot the elephant at all he could have walked away from the whole thing and been fine. Hughes knew that if he did not get up that the church and his aunt would be disappointed. The type of pressure should never be put on a child because they think if they do not do it the way adults want it they will not be loved. Orwell could have been attacked by the burmans but only by shooting his rife in the air would probably get the crowd to disburse. â€Å"The dilemma inherent in submission to authority is ancient, as old as the story of Abraham, and the question of whether one should obey when commands conflict with conscience has been argued by Plato, dramatized in Antigone, and treated to philosophic analysis in almost every historical epoch†(Milgram). With the conflict of obedience so old there is no question as to why George Orwell and Langston Hughes went against their own thoughts and just did what everyone else wanted them to do. Work Cited Milgram, Stanley. The Perils of Obedience. (1974): n. pag. Web. 26 Nov 2009. .

The Use of Suspense in Julius Caesar :: Julius Caesar Essays

The Use of Suspense in Julius Caesar Suspense can be defined as the uncertainties the reader feels about what will happen next in a story, or in this case, a play. William Shakespeare incorporated in Julius Caesar three very suspenseful events on which the whole play depends. The first suspenseful event of this play occurs when the conspirators join and discuss their reasons for assassination. Cassius feels that he is equal to Caesar, if not even better that him. Shakespeare builds suspense by using this statement made by Cassius: "I was born free as Caesar.../we both have fed as well, and we can both / endure the winter's cold as well as he." Then cassius tries to persuade Brutes to join in on the conspiracy by telling him that it would be honorable to assassinate Caesar. Cassius tells Brutes that the fate of Rome is in trouble with Caesar in power, which helps build suspense early in the play. To convince Brutes conclusively, cassius forged letters and threw them into Brutus's window where he was sure to find them. Shakespeare wrote this statement: "we will awake him and be sure of him. This is a very powerful statement that builds suspense because the reader most likely feels that Brutes will join in and want to assassinate Caesar, yet the reader is uncertain as to whether or not the plan will work. These events are very suspenseful as they lead up to the assassination of Caesar. The next series of suspenseful events that foreshadow Caesar's assassination happen on a very unusual night. One night before Caesar's death there were many strange occurrences the foreshadows darkness in the future. A lioness gave birth in the streets, the dead rose from their graves, fiery worriers fought in the clouds so fiercely that blood drizzled upon the capitol, horses neighed, dying men groaned, and ghosts shrieked and squealed along the streets; all events of this strange night that Shakespeare makes so suspenseful. Also on this unusual nigh, Calpurnia had a very frightening dream that was very suspenseful. The dream was of Caesar's statue emitting blood and many Romans were bathing in it. When the reader reads this he is "on the edge of his seat"

Questionnaire for Mcd

We are currently conducting a research on ethics of McDonald’s advertisement. We are surveying on the opinions of college students towards the ethics of McDonald’s advertisement. Are they really advertising their fast food ethically? Your response and feedback will be much appreciated. It will take 5 minutes to complete this questionnaire. Gender: Age: _20_ {draw:rect} {draw:rect} Male Female Which faculty do you study in? {draw:rect} {draw:rect} {draw:rect} {draw:rect} Business Engineering Biomedical Law How often do you eat McDonald’s fast food every month? draw:rect} {draw:rect} {draw:rect} Seldom 1-3 times > 3 times What do you think about the taste of McDonald’s food? {draw:rect} {draw:rect} {draw:rect} Not tasty Tasty Very tasty Do you think that McDonald’s food is as tasty and attractive looking as shown in their advertisements? {draw:rect} {draw:rect} Yes No Do you think that McDonald’s advertisements are affecting kids to eat more fa st food? {draw:rect} {draw:rect} Yes No Do you think that McDonald’s food is as healthy as advertised? draw:rect} {draw:rect} Yes No Do you think that the information provided about the food by McDonald’s is complete and true? {draw:rect} {draw:rect} Yes No What factor makes you eat McDonald’s food? {draw:rect} {draw:rect} {draw:rect} {draw:rect} Taste Advertisement/ Promotion Price Time saving Do you agree that McDonald’s advertisement has caused people to eat more and become more obese? {draw:rect} {draw:rect} Yes No Does the advertisement or promotion made by McDonald’s make you consume more McDonald’s fast food? draw:rect} {draw:rect} Yes No Do you think that McDonalds should put complete information about the nutrition in the food prepared in the advertisement? {draw:rect} {draw:rect} Yes No Consider this scenario: You are the sales manager of McDonald’s and you have to make a decision in a meeting with colleagues to decide on th e advertising plans for McDonald’s. Your colleagues suggested that you should advertise McDonald’s food as healthy as the society now is getting more conscious of health issues. However, you know that McDonald’s food is not the ideal healthy food. What would you do? {draw:rect} Advertise McDonald’s food as healthy and earn more profits in order to get a higher commission. {draw:rect} Gives full information about McDonald’s food and risk your job as a sales manager because it may affect the sales. When you buy burger from McDonald’s, does it exactly look like how it is advertised? {draw:rect} {draw:rect} Yes No If no, do you feel that you are misled by the advertisement? {draw:rect} {draw:rect} Yes No

Build And Position Your Brand With John Hall [Podcast]

Build And Position Your Brand With John Hall [Podcast] Thought leadership: You’ve no doubt heard the buzzword, but do you know what it means? More importantly, do you know why it matters when it comes to building and growing your business? Today we are going to talk to John Hall, the co-founder and CEO of Influence Co., is going to chat with us today about how thought leadership can help you scale your business and take it to the next level. How John got started with Influence Co., how the company helps other businesses, and why they developed the technology needed for content creation and distribution. What inspired John to write his book, Top of Mind: Use Content to Unleash Your Influence and Engage Those Who Matter to You. Tips on building influence for those who want to use their influence to write and publish a book, as well as the first steps to take when writing a book. How a marketer can find a great idea to pitch to an influential publication. Some tactics John has used to build influence and position himself as an authority. Ideas on measuring intangibles like brand awareness, thought leadership, and influence with both qualitative and quantitative measurements. John’s best advice for someone looking to position themselves as an authority or an influencer. Links: John Hall on LinkedIn Influence Co. Top of Mind: Use Content to Unleash Your Influence and Engage Those Who Matter to You Likeonomics Non-Obvious If you liked today’s show, please subscribe on iTunes to The Actionable Content Marketing Podcast! The podcast is also available on SoundCloud, Stitcher, and Google Play. Quotes by John: â€Å"It’s more important to build trust with specific audiences than just selling to them all the time.† â€Å"So many people get published somewhere and they’re like, â€Å"Great, I got published,† [but] if you don’t do things to leverage a content, the chances are less that you’re going to perform.† â€Å"You got to just start writing, getting content out there and being thoughtful about it.†