Porter’s Five Forces The Threat of New Entrants (Low) Essay

There is a great amount of economies of learning and scale in the oil industry for Example BP has been searching for oil since 1901. They invest a huge amount in up-to-date technologies making it difficult for new entrants to compete. His obviously requires huge capital investments in R&D as well as start-up cost, for example a truck just to carry the oil costs over $1,000,000. There is a lot of regulation in the industry especially with regards to inter-continental politics which further reduces new entrants although in the USA there is less which allows for small firms (under 10 staff) to enter in areas such as Alaska and Texas. There is also a history of incumbent response; BP were fined jointly with TNK $35,200,000 for price fixing. Overall these factors lead to a very low risk of threat of new entrants. Supplier’s Power (High) A lot of oil in the world which is held in countries which are politically unstable and there is a risk that they may seize oil like Iran did to BP in 1951 or more recently Venezulea seized one of Exxon’s major projects. OPEC is a cartel which controls the amount of oil sold and produced. It controls 40% of the world’s supply of oil and holds a lot of power especially as BP also purchases oil from OPEC countries. Buyer Power (Low) As the good is not perishable oil companies do not need to sell it immediately and can therefore influence the flow of oil and also its price. Customers also have few substitutes so there is always a strong demand for the product. Furthermore individual buyer power is low as there are large amounts of customers who purchase low volumes. Demand is set to rise despite a weakening economy, which is shown by rising energy prices. The saving grace for customers is the low switching costs as products are undifferentiated and customers don’t have to sign a contract when they fill up there tank. Overall the buyer power is low because even though there are low switching costs OPEC affectively controls the price of oil so will increase this for the oil suppliers.

The Sony Playstation 2

Game is one of the biggest markets in the world; most of people like to play game for relaxing, or at the spare time with friends. People of all ages are players. Report has pointed out the global spending on video games-games console hardware and associated games-exceeds that spent at cinema box offices and is double the video rental market. Many firm such like Microsoft, Nintendo and Sony seize this opportunity and plan to enter this biggest market. The competition has been intensified among the game market, who will be the winner? The market leader for hand-held, portable consoles is Nintendo-its Game Boy, launched in 1990, has sold well and consistently. Games console which are coupled up to a domestic television screen comprise a larger section of the market , and this is where Sony has become dominate. In 1994, Sony was a ‘non-entity' in the video games market, however by 1996, it was the world leader of its fast growth market. At the end of 2003 Sony's accumulated sales of 12 million games consoles was well in excess of rivals Sega and Nintendo. The stronger financial support is definitely the reason of successful for Sony. However, those just one small part of reason for the success of the Playstation, the mainly reasons for the success of the Playstation are below: * Adequate knowledge form technology, which had been developed over many years. It was able to derive synergy from its competencies in both hardware and software. * Suitable timing to entered the market, to avoid some unnecessary competition with rivals. Sony timed the launch carefully and entered the market just one month after Sega launched its new Saturn console, the first 32-bit machine. This suggested that the real competition in this sector of the industry lay between Sony and Sega, rather than with Nintendo as well, although in 1997 Nintendo launched its 64-bit N64. * Its pricing strategy for consoles. Sony knew the real profits came from subsequent software sales and happy to cross-subsidize a relatively low-priced console. They also enjoying cost saving through the experience curve effect and happy to pass these on to consumers. * A number of attractive licensing deals, which helped it, build up a strong portfolio of games from the outset. A number of key games software companies were persuaded to switch their allegiance to Sony.†1 * Sony's advertising campaign was very specifically planned. Sony worked out exactly what they wanted the adverts to achieve. They also aimed to make people think of the Playstation as powerful and destructive, using the line, â€Å"Do not under-estimate the power of Playstation† in many of its adverts. Those intelligence ideas help Sony become a winner through this competition. So they are the strengths of Sony Playstation, which made Sony's market share grows in creditable rate. And helped Sony corporation build up a good reputation among the consumers that will become advantage for Sony's further competition. Late in 2000 Sony was unable to satisfy the early demand in both the US and Europe for its new Playstation 2. The problem has come. It was experiencing internal supply problems of critical components. This is a real fault for Sony in Christmas – the peak sales period. This could affect the profits of Sony Corporation. When Sony was struggling with the launch of Playstation 2, Microsoft and Nintendo realized this is a good opportunity to launch their new game console into the video games market. They believe there was a real chance that some customers would switch to the game console of Microsoft and Nintendo, if their intended first choice Playstation were no available. This is a real threat for Playstation's position in the video game market. As Nintendo and Microsoft launch their new game console into the video game market, something has been changed. Reports said that sales of Sony's PlayStation 2 console are down but sales of Nintendo's GameCube console seem to be on the rise. The holiday sales of Nintendo's GameCube rose over 70% from a year ago, while Sony's PlayStation 2 sales did not fall as sharply as expected. Nintendo also said that it would easily achieve a global sales target of six million GameCubes for the full business year. Its sales are directly being attributed to GameCube price cuts in Japan, Europe and North America in September and October of 20032. However, Sony Corporation is keeping finding many opportunities for them to keep their opposition in the video game market. They noticed that entered an established market have to offer some value, something clearly different. So they tried to add the new function, new technology into PlayStation 2. For example: the graphics on Playstation 2 are of ‘cinematic quality' and the console has a DVD reader, which can run movies. PlayStation's hard drive would later be able to accommodate and Internet connection and allow users to buy games over the Internet and download them directly on to their machine, they also could play game online. In addition, PlayStation 2 is a 128-bit machine now, but it was not the first 128-bit machine on the market. Another mainly opportunity for Playstation 2 is their software (games). They categorized their games into 5 main types: adventure/strategy games, driving/motoring games and simulations, sports, fighting game and platform games. By Sony's good reputation there are more and more software companies available for the Sony Playstation than are available for any of its rivals. In 1999 Sony had 90 companies developing games for Playstation 2 and was determined that 50 news games would be available for the launch. Playstation 2 also creating a unique opportunity for content providers and third party publishers from their biggest online community. In 2003, the massive Playstation community proved yet again the enviable advantage of strength-in-numbers as games for the number one selling platforms flew off the shelves in record amounts. Playstation 2 software led the industry with close to 3 billion in total video game sales for the year, nearly three times as much as its closest competitor. This is first online console community is also the most popular, with the Playstation 2 online base growing nearly three times as fast as that of Microsoft's Xbox live. Sony wants to hang on its leadership in the computer games industry. That appears to be Sony's thinking as the electronics giant moves ahead with development of the next version of its PlayStation video game console, which is well known as Playstation 3. Japanese media reported on May 6th that the PS3 console is in development. The goal is to make new processor technology, called â€Å"grid† about 200x faster than current console technology. This is almost achieving their original goal of making the PS3 1000 times faster than the PS2. This goal was publicly set by Mr Okamoto, the Senior VP and Chief Technical Officer of Sony Computer Entertainment, at the 2002 Game Developers Conference in San Jose, California. Playstation 3 may become a major threat to the other company in the game industry. So when Sony look for the future, one of the rivals review recent past, Pete Isensee, lead developer for Microsoft's Xbox Advanced Technology Group, used his GDC talk to deliver a mostly positive critique of the Xbox's journey to the market, lauding a product launch that happened on time and without major bugs, a departure from Microsoft history. â€Å"Microsoft has this stigma about not getting it right until version three,† he said. â€Å"We didn't have a choice with Xbox. If we didn't get it right with version one, Sony and Nintendo would eat us alive.†3 Nowadays, Playstation 2 will be outsold by rivals, but who knows what will be happen in the next. When the new game console-Playstation 3 launch to the market in Christmas 2004, maybe everything will have a big change.

A Bridge to Wiseman’s cove Essay

The novel A Bridge to Wisemans Cove is about a teenage boy named Carl who is mum left him and his brother to go live with their aunt, who is cruel, selfish and gambles. This book describes how Carl and his younger brother find happiness in the most odd places. In this novel, the author raised some issues like underage drinking, body image, child abuse, gambling, young school leavers and dysfunctional families. Carls family was tearing apart from the start, from his mum occasionally leaving them to defend for themselves as beryl explains later on that mother of yours is always taking off. to finding out that all the three children have different fathers. And Sarah their sister also leaves realizing that they could only make her life worse. The effects of Carls dysfunctional family are vast leaving kids feeling left out and alone, trapped in something that they dont like. Child abuse was a relatively big thing in this book centring the affects that aunt Beryl has on both Harley and Carl, but mostly Harley. She did not want Harley to leave the house. At one end it was looped in the window frame. At the other, met a pair of handcuffs. This is how she kept Harley at home by chaining him up. To where their mum abandons them because she cannot handle looking after them. Child abuse in this book is quite relevant for the teenage audience of this book. Gambling is a significant issue in this book, showing from how it can be addictive to how it almost possesses a person. Aunt Beryl had a gambling problem she had a win at the poker machines. and played almost everyday, and how beryl steels from Carl to get the money to gamble with, leaving Carl with no money for himself or Harley. Gambling is an awful habit that in many cases is hard to escape from and has a big impact on not just one person but friends and family. Body image was also brought up throughout the book. Describing how someone who is unhappy with themselves like Carl and Justine, Carls friend, can still have a good self image and feel good about themselves instead of hiding it. It also reflects on how Carl and Justine have something close,  something to relate to with each other. stomach bulging through the lines of his buttons describes how Carl sees himself in the mirror. Body image is a major topic in any teenagers life and it is great to see that James moloney has relised that and brought it out as a message in his book. Underage drinking is another topic in this novel describing how teenagers are not responsible with alcohol, but try to imagine that they are. Like Maddie (Justines friend) who became drunk on New Years by sculling a mix of rum and coke. It was Just rum and coke, like everyone else, but it didnt have the same effect to everyone else. Underage drinking is a problem that occurs in many teenagers lives and in some cases ruins their lives. Leaving school early is what Carl had to do when he moved to Wisemans Cove after aunt beryls greedy mind took possession of Carls life and made him go get a job instead on going to school, because aunt beryl wanted the money to go gamble with. Harley on the other hand was able to go to school only so he was out of aunt beryls face for the day. Carl was forced to get a job on the barge with aunt beryl squeezing every dollar out of him. With Carl being fifteen years old it was hard for him to get a job but after helping joy (Maddies mum) he was able to help on the barge. I didnt want to take you on.. Skip Duncan complained to Carl about not wanting to work with him. School is one of the essentials for a teenager and you cant just force one to loose the lack of education so easy. A Bridge to Wisemans Cove certainly raises the awareness of alcohol, child abuse, body image and how you feel about yourself, gambling, how families sometimes break up and how leaving school early can ruin some peoples life. I think that this book is great, making people relies that there are problems occurring out there that are usually hidden and un heard or until it is to late. Bibliography – www.bookrags.com/ A Bridge to Wiseman’s Cove Essay ‘With it’s sight restored at last, the bird jerked it’s head sideways to look at Carl and then Joy, as though it was asking, is it true? Am I free?’ James Moloney uses the image of the osprey in several ways throughout the novel. The main technique in which it is represented, is the emotion of the characters finally feeling free in there own way. The first use of the image of the osprey is shown when Carl’s mother Kerry would always leave to go on one of her ‘holiday’s’. I believe that she went on these holidays to make herself feel free. To go away for a few days and leave her real life. But in fact she was never really free. Even on her holidays she always knew that she would eventually have to come back to reality, to her children. It’s not that she didn’t love her kids, she did. Perhaps she just couldn’t handle the stress of having to raise three children as a single parent or maybe just having them around was holding her back. During the prelude of the novel an unknown women gets on board a bus. She waits out of sight and sneaks on the bus when the driver is pre-occupied. She does not have a ticket and no one knows who she is. ‘The driver gunned the engine, commanding its throaty roar and the bus pulled away from the roadhouse into the sea of darkness. Only then did the women sit up and permit herself a smile’ At the end of the novel we find out that this women was Kerry. She was on her way back to her children when the bus she was on drowned into the ocean. In the moment that Kerry died, came the realization that she knew she was finally free. Sarah, Carl’s sister also finds the courage to leave and set herself free. Free from living her own life. Since Sarah was old enough to remember she would always have to depend on herself not her mother. When her mother would leave she would have to look after Carl and Harley as though they were her own. She states in the book ‘I’m only nineteen years old. I’ve got my own life. By the time Harley’s old enough to take care of himself, I’ll be thirty.’ Although I don’t agree with the way Sarah went about just dropping Harley and Carl off at their Aunt Beryl’s, I agree that she has her own life to live and she needed to escape. Consequently, setting herself free. The image of the osprey is shown in a major way within Carl. In many ways the osprey is a mirror image of Carl, in its appearance, pain, suffering, recovery and how it is set free. The image of the osprey is remarkably similar to that of Carl’s. It was a, ‘large bird, brown and grey, its head covered by a canvas hood.’ The description of the osprey matches some aspects of Carl’s body and personality. Carl was a large boy, miserable like the colour grey and he was shy like a hood covering his head. This was because he did not want to see what people responded to his body. He was ashamed of himself and the name his family had. Although by the end of the book Carl realizes that he finally has new friends and a new family. He finds that people like him and that they ignore that he is a Matt. ‘My name is Carl Matt. M-A-T-T.’ Carl screams his name out to the world, he doesn’t care anymore. Carl was free. Free of his worries, free of his fears. He is free from the curse that everyone says he and his family has. He could let go of his sorrowful past and be alive just like how the osprey let go of its painful past and began to fly once again. The way the osprey spread it’s wings and took its first beat against the wind symbolizes the emotions rushing through Carl when he finds out his mum truly did love him and Harley. The journey of the osprey mirrored Carl’s personal life. The osprey was set free in a way that makes Carl feel alive. The image of the osprey is used to represent the characters feeling free. It mainly symbolizes as a metaphor for Carl’s life. The osprey is free from being injured by people by being nurtured from Justine and Joy. Carl was also getting injured by people. Throughout his whole life people were hurting him. Kerry, his mother, Beryl, his aunt, his older sister Sarah and kids calling him names about him weight. When he met Justine and Joy, they saved him. They made him feel alive. They set him free. A Bridge to Wiseman’s Cove Essay A bridge to wiseman’s cove, by James Moloney is a novel about a young man named Carl Matt; it goes through all the difficulties he faces during his life on wattle beach. At the beginning of this novel, the importance of family seems to be the main theme, however, as the story continues, other themes are introduced such as knowing the difference between wrong and right, how one views himself, in other words body image, abandonment, the need for love, neglect, loneliness and many more. Right from the beginning of the story the reader is introduced to some of the fundamental characters of the novel such as Kerry, the mother of Carl, his younger brother Harley and his older sister Sarah. From as early as the first few chapters the theme of abandonment is introduced when Kerry decides to abandon Carl and his two other siblings. But this isn’t the last time you read about abandonment it seems to be a reoccurring event. It is soon discovered that Kerry was also abandoned by her three previous boyfriends that she had a child each with! Sarah then tells Carl and Harley that they will be spending their holidays with their Aunt Beryl in Wattle beach while she goes on a holiday of her own. Its not long till they realise that Sarah won’t be coming back from her holiday any time soon, meaning Carl has been abandoned once again. Once you think no one else could leave Carl, Harley leaves him too live with the Duncan’s family, while living with beryl for him becomes unbearable. Being abandoned so many times, Carl is left feeling hurt, confused and neglected! This is where the themes loneliness and the need for love come in. When Carl first arrives, he is miserable and lonely: â€Å"alone in the park, Carl wishes he was a concrete statute, set there for the birds to sit on. No thoughts, no cares, no pain, just years of weathering in the sun and rain until there was nothing more† (pg. 29) He is later told by Justine that he has been â€Å"playing dead† (p. 184). Carl finally admits that he is hurt inside by what he is mother has done, and he doesn’t even know if he is loved or not. He explains to Justine that â€Å"there’s something broken inside of me. Every time I try open up it hurts and I have to stop† (p. 278). â€Å"I’m angry.  All the time it was that one fear. That she didn’t love me.† (p. 232) Carl is big, awkward, and well aware of his body. The Oxford dictionary defines â€Å"body image† as the subjective picture or mental image of one’s own body. For Carl body image is important, other then being low is self esteem, he is so self-conscience of what other people might say or think about him he wore a t-shirt when he went swimming to protect himself from public humiliation, â€Å"he was ashamed of his fleshly bulges in front of the war-painted life savers† (p. 44). As a defence mechanism Carl would often draw his arms to his stomach in order to hide it when he felt uncomfortable (p. 45) and this shows that his body image is always in his thoughts.

Obama Healthcare plan vs. Clinton Healthcare plan Essay

Obama Healthcare plan vs. Clinton Healthcare plan - Essay Example Since Hillary has no mechanism for enforcing the individual mandate she proposes, Obama regards the mandate as a bluff. John Edwards, whose plan includes mechanism for enforcing the individual mandate that he has proposed, supported Obama’s criticism of Hillary and Hillary’s criticism of Obama. In the Edward’s proposal, proof of insurance will be required when income taxes are paid and when health care is provided. Thus, Americans will be compelled to buy health insurance. The Edward’s plans make provision for families without insurance and those that lose coverage. The former will be enrolled in plans such as Medicare and Medicaid while the later will be enrolled in other plans. The issue is not enrolling people in private health care plan but getting people to participate in the plan. Thus, the Obama plan makes perfect sense given that it resist individual mandate, which may be unattractive to a large number of people and may not easily be enforced. The President’s Medicare Plan: A Trojan Horse to Ration Health Care? Medicare, with $30.8 trillion in long term unfunded obligations, could cease to exist if the runaway cost is not reined in. The problem is how Medicare cost should be controlled. Two options are available: changing the structure and culture of Medicare through empowering patients to make health care decisions that lead to best results, in addition to forcing plans and providers to compete for the money; and top-down bureaucratic control of the cost of health care services. Of course, these options will reduce the cost but will simultaneously reduce the quality of health care. The first option, which was taken by Budget Committee Chairman Paul Ryan, has been described to give Medicare patients control over cost of services and freedom to choose how they access these services. The result according to Heritage’s Robert Moffit and James Capretta is value in return for the dollars. President Obama opted for th e second option: tightening the top-down bureaucracy and reducing Medicare payment to doctors and hospitals, in addition to reducing providers’ reimbursement rates. This option leads to reduced senior access to doctors. Under the second option, the Independent Payment Advisory Board (IPAB) will be strengthened to rein in cost of Medicare while improving the quality of care. The White House planned to equip IPAB to promote prevention without shifting cost to seniors. Though reducing doctors’ salaries will reduce Medicare cost as envisioned by the second option, according to British Physician Anthony Daniels strengthening IPAB to focus on prevention will be unsuccessful at addressing the fiscal problem The fact that Congress continues to delay in reducing doctors salaries suggests that the second option is not politically attractive. Pursuing health care reforms that put bureaucrats in charges will reduce patient access to care. The second option should be repealed to av oid such outcome. Will Obama’s health care plan mirror the 1994 Clinton failure? Former President Bill Clinton key policy plan in 1994 was a

Health&Fitness Essay Example | Topics and Well Written Essays - 500 words

Health&Fitness - Essay Example The author is of the opinion that regular moderate exercises can achieve the desired benefits. To support his views, he lists down several benefits that accrue like dramatically lower rates of heart disease, strokes and many others. Simple activities like light walking, mowing the lawn, even if done in bits and pieces, by taking time off in between, go a long way in improving health. Climbing the stairs to one's office rather than taking an elevator or doing a brisk walk from the parking lot are ways that can be done easily, with minimal efforts required. One important thing to note from the article is that simple exercises like mentioned above can be made part and parcel of one's life and hence will reap benefits in the long term. As to how I stand on the article, I would say that I agree with the author's views that regular exercise is important, even if it is not intensive. What usually happens is that one is not able to sustain one's fitness regimes due to commitment that is required. Intensive or rigorous exercises take a lot out of the person and demands considerable effort. So people usually are unable to make daily visits to the gym from a tiring day at the work. Even if they do so they do not have enough time to spare.

Engaging Parents in Their Children's Early Learning Essay

Engaging Parents in Their Children's Early Learning - Essay Example clude parents’ socioeconomic status, education level and living conditions, which have direct bearing on a child’s early learning activities and outcomes. Nonetheless, more important than the above factors is the quality of a child’s home learning environment. Although parents may not have achieved a lot educationally and might be living in disadvantaged environment and circumstance, their regular engagement in their children’s early learning activities has rather tremendous effect in stretching children’s mind and attitudes. Consequent to the positive attitudes, children’s learning progress and development would be enhanced (Desforges, 2003). In fact, children growing up under the care of parents that ensure strong home-learning environments have been shown to be ahead in social and intellectual development by the age of three compared to those in weak home-learning environment. Research reports further show that this trend continues through to age ten. The latest research findings show that the positive impacts of parental involvement in children’s early learning cut across all socioeconomic and ethnic groups and levels of parental involvement. However, the impact of parental involvement has been found to be more profound on the learning achievements of children of the primary age range. In fact, to this age range, the variation in school quality has less impact on early learning compared to parental involvement (Whalley, 2001). Among the aspects of children’s early learning that parental involvement positively impacts on are skills, knowledge, and intellectual simulation at home and at school. With the right parental involvement and contribution, children would be able to learn and copy constructive attitudes towards learning and develop strong... From this paper it is clear that  parents may not have achieved a lot educationally and might be living in disadvantaged environment and circumstance, their regular engagement in their children’s early learning activities has rather tremendous effect in stretching children’s mind and attitudes. Consequent to the positive attitudes, children’s learning progress and development would be enhanced.This essay discusses that  the latest research findings show that the positive impacts of parental involvement in children’s early learning cut across all socioeconomic and ethnic groups and levels of parental involvement. However, the impact of parental involvement has been found to be more profound on the learning achievements of children of the primary age range. In fact, to this age range, the variation in school quality has less impact on early learning compared to parental involvement. Among the aspects of children’s early learning that parental invo lvement positively impacts on are skills, knowledge, and intellectual simulation at home and at school. With the right parental involvement and contribution, children would be able to learn and copy constructive attitudes towards learning and develop strong self-images as good and fast learners. Parental involvement in children’s early learning may also encompass guardians and older siblings providing children with one-to-one attention by keenly listening to their words and questions and giving replies that focus on extending children’s thoughts.

Leisure Operational Management Budgeting Assignment Essay

Leisure Operational Management Budgeting Assignment - Essay Example Today’s active lifestyle, stress which is as a result of work and family duties affect the lifestyle we live. Sleeping hours are usually reduced due to the several commitments in which people engage in. Lack of adequate sleep leads to restlessness, decreased reaction time, as well as lowering levels of energy. The effects of inadequate sleep as so dangerous to the body, they lead to low immunity system leaving the body vulnerable to diseases and illnesses. Work out gym is a potential business market; it will enable people to work on their cardio (Meddis, 1977). Canterbury Christ Church University is a university on the move. There is a steady increase in population growth every year. The current population ant the university is high. The growth in population has been necessitated by the number of students being admitted as well as the population neighboring the university. This has attracted the need to set up a workout gym that will target the customers around as well as within the university. The work out gym will target the students, and the population around the university. Entrepreneurs willing to venture into the leisure market especially work out gyms have got the opportunity to invest in this very appealing business. The leisure industry especially investing in gym services to the customers is in good condition and there are several customers wiling to pay for the services offered. Consumers who are employed have got money to spend in the work out gyms due to the nature and hours they take at work, leisure is crucial to any human being. Health concerns remain the main concern why people will have to seek the services of a work out gym. Further, flexible working hours as well as long weekends will enable consumers to exercise effectively in this facility. Success in the leisure industry especially in the work out gym

Investment and Portfolio Managment Essay Example | Topics and Well Written Essays - 5250 words

Investment and Portfolio Managment - Essay Example Investors must take account of the interplay between asset returns when evaluating the risk of portfolio at a most basic level; for example, an insurance contract serves to reduce risk by providing a large payoff when another part of the portfolio is faring poorly. A fire insurance policy pays off when another asset in the portfolio-a house or factory, for example-suffers a big loss in value. The offsetting pattern of returns on these two assets (the house and the insurance policy) stabilizes the risk of the overall portfolio. Investing in an asset with a payoff pattern that offsets exposure to a particular source of risk is called hedging. Anther means to control portfolio risk is diversification, whereby investments are made in a wide variety of assets so that exposure to the risk of any particular security is limited. By placing one's eggs in many baskets, overall portfolio risk actually may be less than the risk of any component security considered in isolation. So, using portfolio is very much important in investment decision-making Prof Stein should protect the value of his shares before the company issues an IPO by using derivative products such as options, forwards and futures. Derivative products help to avoid risk of price fluctuations and others. In hedging, Derivatives are tools for changing the firm's risk exposure. A derivative is a financial instrument whose payoffs and values is derived from, or depends on, something else. For example, an option is a derivative. The value of a call option depends on the value of the underlying stock on which it is written. Actually; call options are quite complicated examples of derivatives. The vast majority of derivatives are simpler than call options. Most derivatives are forward or futures agreements or what are called swaps. An unlimited variety of payoff patterns can be achieved by combining puts and calls with various exercise prices. Some strategies are discussed below: Protective Put: Under this one would like to invest in a stick, but one is willing to bear potential losses beyond some given level of investing in the stock alone seems risky to one because in principle one could lose all the money one invest. One might

Read Alouds Essay Example | Topics and Well Written Essays - 750 words

Read Alouds - Essay Example Reading aloud is so effective due to a number of factors, including: pleasure, emotional bonds among the participants of the process, opportunities to experience unusual situation and listen to the books that are above children’s own reading level. Meanwhile, read-alouds develop children, motivate them to read independently and serve as a trigger for creativity and discussion. Reading to the class, the teacher demonstrates her appreciation of literature and serves as a role model (Kieff 2003, p.28). Read-alouds serve as â€Å"a catalyst† for the discussion and social interchange. As Lawrence Sipe (1999) puts it â€Å"literature can help us perceive reality in new and fresh ways, â€Å"defamiliarizing life† and making us alive to new possibilities, new ways of perceiving the social order, so that we can imagine what a more just society would look like† (p.125). At the end of his article Lawrence Sipe concludes that â€Å"as children embrace or resist texts through language and a variety of artistic modes, they are forging links between literature and their own lives. Such links have the potential to be both informative and transformative for their developing sense of themselves as individuals and members of society† (p.129). However, children’s’ response to literature can be different. Success of read alouds may depend on various factors. Sipe’s article (1999) highlights some factors influencing children’s response to a book. As research show it is the literary experience of the reader and the context, which really matters. Individual experience and cultural background always contribute to the literary response. To my mind, this fact is of special interest for teachers working in multi-cultural classes, which are not rare in the United States. Multicultural literature available today represents cultures, which used to be invisible or treated negatively earlier. Such books can serve as mirrors or windows for children of

Critical Response Paper Assignment Example | Topics and Well Written Essays - 250 words

Critical Response Paper - Assignment Example It is imperative for the country to balance the opinions of the different religions and integrate them in the formation of the government. This is because the relationship between the government and the religion is very fluid; the religion and/or the politics change in response to history and its interpretation. According to Brown-Foster and Goldstein (2010), circumstance and history determines the evolvement of the relationship between the state and the religion. The institutions should be set up in a way that they do not have certain privileges within the constitution but the freedom of worship privately should be given. According to Costopoulous, Diamond and Plattner (2005), religious institutions should not be provided with constitutional privileged prerogatives that permit them to consent public policy within the democratic governments. It is important to note that the political parties will perform the role of mandating the public policy because the religious institutions are not supposed to mandate any public policy. Voting is the only way to offer transparency within the government and the political parties have the mandate of voting in their favorite

Postgrad education allows nurses to be more effective clinical Essay

Postgrad education allows nurses to be more effective clinical decision makers - Essay Example Nursing practice has expanded and extended in both horizontal and vertical directions. This expansion has been too great and that professional growth comes by limiting functions rather than by extending them; they believe that the focus of concentration should be on the functions that are of a professional nature and integral to nursing. Nursing has gone too far and that it has begun to encroach on the medical domain. On the other hand the expanded roles in nursing fulfill a vital need and provide health care services where either none exist or services are limited. In addition, the assumption of additional functions by nurses is viewed as necessary so that the best possible care is rendered. Whatever the case, the changing environment has called for an education to keep pace with the modern world. Yet the struggle for the inclusion of educational programs for nursing in institutions of higher learning still continues at a time when education is needed more than ever to develop indiv iduals who can deal with the problems of adjustment in modern life. Postgrad nurses are well geared up to convene the demands placed on today's nurse. These nurses are valued for their skills in critical thinking, management, case management, and for their capability to practice across a range of inpatient and outpatient settings. Moreover, Critical care nursing cannot be understood in iso... e valued for their skills in critical thinking, management, case management, and for their capability to practice across a range of inpatient and outpatient settings. Moreover, Critical care nursing cannot be understood in isolation from nursing as a professional discipline. While geographical and specialization designations such as the emergency room, the coronary care unit, the Mobile Army Surgical Hospital ( MASH) unit, or the intensive care unit may imply critical care, the distinctiveness of critical care nursing awaits description. In fact, critical care nursing represents a concentration of nursing practice as a whole or reflects something innovative and different. Further, the impact of specialization and the rapid influx of technological change on nursing practice have gained the attention of few researchers. Advanced patient assessment skills held by post grad RN's particularly those who hold a grad dip in critical care, allow the nurse to improve patient outcomes because the grad dip gives nurses the ability to interpret and act on physiological abnormalities which is a fundamental factor in adverse event prediction and prevention (Julie Considine, 2004). Postgrad education not only provides nurses with the skill of using latest technology but also educate them to make efficient decision at right time. In the intensive care unit the nurse collects and monitors vast amounts of detailed data. This monitoring is continuous and occurs in rapidly changing situations. These judgments require anticipation of subtle changes and decision making, interpretations, intervention, and evaluation in complex situations. The outcomes of these decisions may have life and death potential for patients. The decision making may occur in units that are inadequately staffed,

The Leisure Products (LP) Company manufactures lawn and patio furniture Essay Example for Free

The Leisure Products (LP) Company manufactures lawn and patio furniture Essay These costs are allocated to each unit of output based on the projected annual production of 500,000 chairs. A 10 percent markup ($ 0. 65) was added to the cost per unit in arriving at the firms selling price of $ 7. 15 (plus shipping). In May, LP received an inquiry from Southeast Department Stores concerning the possible purchase of folding chairs for delivery in August. Southeast indicated that they would place an order for 30,000 chairs if the price did not exceed $ 5. 50 each (plus shipping). The chairs could be produced during the slow period using the firms existing equipment and workforce. No overtime wages would have to be paid to the workforce in fulfilling the order. Adequate materials were on hand (or could be purchased at prevailing market prices) to complete the order. LP management was considering whether to accept the order. The firm’s chief accountant felt that the firm should not accept the order because the price per chair was less than the total cost and contributed nothing to the firm’s profits. The firm’s chief economist argued that the firm should accept the order if the incremental revenue would exceed the incremental cost. The following cost accounting definitions may be helpful in making this decision Direct labor: Labor costs incurred in converting the raw material into the finished product. Material: Raw materials that enter into and become part of the final product. Plant overhead: All costs other than direct labor and materials that are associated with the product, including wages and salaries paid to employees who do not work directly on the product but whose services are related to the production process (line managers, maintenance, and janitorial personnel); heat; light; power; supplies; depreciation; taxes; and insurance on the assets employed in the production process. Selling and distribution costs: Costs incurred in making sales (e. g. , billing and salespeople’s compensation), storing the product, and shipping the product to the customer. (In this case the customer pays all shipping costs. ) Administrative costs: Items not listed in the preceding categories, including general and executive office costs, research, development, engineering costs, and miscellaneous items. Answer the following questions: 1. Calculate the incremental, or marginal, cost per chair to Leisure Products of accepting the order from Southeast? 2. What assumptions did you make in calculating the incremental cost in Question 1? What additional information would be helpful in making these calculations? 3. Based on your answers to Questions 1 and 2, should Leisure Products accept the Southeast order? 4. What additional considerations might lead Leisure Products to reject the order? Solution 1. Marginal cost per chair to Leisure Products = $4. 55 (Direct labor + Direct Materials) 2. While calculating incremental cost in Q1, I made following assumptions: a. The cost of labor would remain same i. e. there will no overtime wages. b. LP will be able to produce 30,000 chairs to fulfill the order from Southeast with its existing capacity. c. The cost of materials will remain same. There is additional information given in the case to support my calculation in Q1. Since the customer is bearing the shipping cost, the selling and distribution costs is ignored for decision making. Administrative cost and plant overhead are indirect costs and are allocated to estimate size of production. Since these costs do not change irrespective of production, such cost is not considered for calculation of marginal cost per chair. 3. Since selling price per chair exceeds the marginal cost per chair, LP should accept the order. This order will have positive impact on the profitability of LP. 4. Following considerations may lead Leisure Products to reject the order: a. The existing capacity is not adequate and new capacity would be required to complete the order. b. Overtime and more labor resources affecting the labor cost would be required to complete the order. c. LP will have to bear the selling and distribution costs. d. Changes in market affecting material or labor cost can affect the decision.

Fully Understanding The Arian Controversy Religion Essay

Fully Understanding The Arian Controversy Religion Essay The church has battled throughout its history with various Heresies and controversies, which in essence have partly defined the path that the church has taken. A perfect example is Athanasius, bishop of Alexandria and his bold stand against Arianism. Without which todays orthodox faith may have drifted into paganism and found itself more of a philosophy than a life saving religion The message of salvation was on the line. The Arians believed that Jesus was not God, but instead a created being, where Athanasius knew that for salvation to be realised, Jesus must be both fully God and fully human, of the same substance as God, and always being, not created. The importance of this stance could not be overstated as it would affect all aspects of Christian belief and society. Athanasius stand cost him dearly spending many years in exile on 5 different occasions, but his determination to stand for what he believed was absolute truth eventually triumphed. His stand maintained the church as an instrument of salvation, separate from the control of secular power. It is through the example of Athanasius life and costly fight for truth that we learn the importance of identifying todays critical issues and standing firm in this present difficult age. Introduction To fully understand the Arian Controversy and the depth of involvement for Athanasius, the Bishop of Alexandria  [1]  , one only has to follow his life story, as the history of the Arian Controversy is entwined throughout it.  [2]  The life of Athanasius is so dominated by the combat of this heresy, that the rise and fall of the Arian Controversy was a reflection of the life and security of this theological giant. In this essay the Author shall attempt to examine the relationship between Athanasius and his passionate fight against the Arian heresy. In so doing one must firstly understand the Controversy, secondly have knowledge of the Key players, and what they so passionately believed and fought for, and finally to consider how learnings from these past battles can be applied today. Section1: The Arian Controversy The Arian Controversy was birthed through a man named Arius (250  [3]  -336AD)  [4]  born in Libya.  [5]  A very popular and prestigious presbyter of the Baucalis Church,  [6]  in the city of Alexandria.  [7]  Arius intention was to protect the status of a unique God, the only being to have always been and neither has another ever existed with the same standing nor made of the same matter.  [8]  However the controversy finds an earlier conception through Origen,  [9]  probably the greatest Christian theologian of the early church.  [10]   Origens understanding of the Trinity was three distinct beings firmly united into one, God the Creator of all, the eternal Son Christ and the Holy Spirit. However it was his comments regarding the subordination of both Christ  [11]  and the Holy Spirit to the Father, which influenced some of those who followed him to accept subordinationism  [12]  and finally Arianism. This belief along with a number of other popular heresies and schisms built a foundation and lead into to what is now known as the Arian controversy. Around the year 318AD  [13]  Arius began to spread his views on the relationship between God and Christ,  [14]  one being the uncreated Father without a beginning, who bore a Son with a beginning.  [15]  The Word (Logos) became flesh as the man Jesus Christ (John 1:14), but Arius argued, He was not made of the same nature nor substance as God the Father, neither eternal nor omnipotent, and therefore was a lesser being.  [16]  In Arius appeal to the highly influential Eusebius, the bishop at Nicomedia  [17]  he wrote The Son has a beginning, but God is without beginning.  [18]  Arius postulated that Jesus Christ was a created Being, the first and the greatest ever created,  [19]  but still only a form of creation, not the Creator.  [20]  This is further seen in a common phrase that would eventually become the Arian motto, There was, when He was not At this time (early in the fourth century) in church history, the theorys and ideas surrounding the divinity of Christ were still up in the air so to speak, and the church had no set way to officialise doctrine or determine what was an acceptable belief.  [21]  So it was, when Alexander the bishop of Alexandria clashed over several issues with Arius, the most important being whether the Word of God, was co-eternal with God.  [22]   In 320AD Alexander took decisive action, clearly declaring his belief in the Sons, being consubstantial and coeternal with the Father,  [23]  following which he brought together a council of local bishops, condemning the views of Arius  [24]  and deposing him in 321AD.  [25]  Arius, appealed both to the local populace and some prominent bishops  [26]  from the eastern side of the empire,  [27]  who in turn supported him. Arius return to Alexandria,  [28]  resulted in demonstrations and riots in the streets,  [29]  further threatening a division of the entire eastern church,  [30]  causing Constantine; the first fully attested Christian Emperor,  [31]  to intervene. In 325AD  [32]  , Constantine called the first Ecumenical (Universal or worldwide) Council in Nicea  [33]  to settle the matter of the Arian Debate.  [34]  This historic meeting not only had the Emperor Constantine present but it is also claimed in ancient chronicles that 318 bishops  [35]  were also in attendance.  [36]  The Arian party was led by Eusebius of Nicomedia  [37]  and the opposition was headed by Alexander bishop of Alexandria notably supported by a young deacon named Athanasius  [38]  his eventual successor and champion of Nicene orthodoxy.  [39]   The Arian debate was distilled to the addition or subtraction of one iota. Was Christ Homousios (i.e. of the same essence as God) or the Arian stand Homoiousios (i.e. of similar essence with God)?  [40]  In what has been described as a decision of immeasurable importance in the history of the church,  [41]  Arianism was rejected,  [42]  in the clearest way possible,  [43]  and after debate, the condemnation of Arius pronounced by the bishop Alexandria was upheld,  [44]  resulting in Arius being anathematized and banished with two companions to Illyria.  [45]  Furthermore for clarity of belief, and complete rejection of Arianism, it was decided that a common creed needed to be developed and unanimously agreed upon.  [46]  Eusebius of Caesarea presented his own creed,  [47]  which was adopted with some changes strengthening the rejection of the Arianism heresies.  [48]  This creed known as the Creed of Nicaea  [49]  became the basis of the Nicene Creed still used in todays churches.  [50]   This should have ended the Arian controversy but it soon reappeared with the emperor ordering the church to reverse Arius condemnation, and readmit him. This introduced a new church issue, the interference of the state (emperor) in church affairs. Instead of persecution, the church had to deal with instruction from a secular authority. We also start to see the true grit of Athanasius, and his willingness to stand for truth despite the negative consequences to his own life. Section 2: Athanasius, The Black Dwarf Champion of Nicene Orthodoxy. Athanasius (296 373 AD),  [51]  seemed to be a man surrounded by controversy. In his time as archbishop of Alexandria,  [52]  he was exiled no less than five times. His controversial standing centred around his use of Episcopal authority,  [53]  as well as the famous alleged assassination of a fellow bishop of a rival group  [54]  which was dramatically found to be false.  [55]  It was Athanasius lot, that his fortunes would ride the waves of rejection and popularity of the cause (The Arian controversy) he so diligently fought against throughout his life. His stance against the heresy that plagued his defence of Christianity fashioned his life. He is credited in history  [56]  as one who stood alone for the truth, against the forces of heresy,  [57]  and is to have stated his famous defiance, Athanasius Against the World.  [58]   Athanasius who was noted as being so dark and short of stature, was known to his enemies as The Black Dwarf,  [59]  the man seen above all others as being opposed to Arianism and to be feared the most.  [60]  He was also known as the champion of Nicene orthodoxy, seen as one of the great fathers of the fourth century,  [61]  and is also credited as one of the most renown theologians of the early church,  [62]  amongst other greats such as Clement and Origen.  [63]   Three key issues of concern for Athanasius were within the religious, social, and political realms. His gravest concern was the Arian core argument regarding the full deity of Jesus Christ and the theology of the Trinity. Athanasius stance on the trinity, was deeply rooted upon his beliefs on creation and salvation, effectively focusing debate on a biblical and theological basis steering it away from philosophical speculation.  [64]  In the Arian debate, Athanasius could clearly see that Christianity was at the brink of becoming a form of paganism.  [65]  If Jesus was not declared Homousios, then Christianity would have worshiped two Gods, and Jesus would not have been a worthy sacrifice for our sins.  [66]  Athanasius saw Salvation was on the line,  [67]  Jesus needed to be both fully human to atone for the sin of man, and fully divine, as none other could have the power to save humanity. This duel nature of Christ was paramount, as without it the Salvation of humani ty would be impossible.  [68]   The second major issue was in the realm of politics. At this time Christianity had just emerged from a period of major persecution by the secular powers  [69]  to a time in which it was the dominant religion. However, Christianity had in reality moved from secular persecution to secular control by the Emperor  [70]  of the day.  [71]  The Arian controversy was a great example of a shift in foci with Athanasius now finding himself opposing the Emperor over religious issues. This resulted in five periods of exile and reinstatement,  [72]  based on either a change in emperor or the clichà © closet to the emperor at the time.  [73]  Subsequently the church found its role degraded away from its real role of pointing mankind to salvation in Christ, rather becoming a tool of the emperor used to achieve his own ends. Consequently, church issues and doctrines were not being decided by the religious elite debating each issue, instead key decisions (e.g. Arian controversy) were made by secular rulers under petition.  [74]  Furthermore, church decisions were subject to being over ruled by the state to suit the whims of the emperor.  [75]  Throughout this period Athanasius established and fought for the principle of church separation from the state, retaining the churchs focus and mission on the good news of Christ. The third issue faced by Athanasius was in the social sphere This arose through the emperor Constantines legitimate concerns with the volatility of the Arian dispute, its magnitude and potential to tear apart the entire eastern church.  [76]  Constantine recognised the importance and role of a united church holding together the fabric of a decaying Roman society. This was his hope and means of ensuring Romes survival, but a divided and embittered church would seal the fate of weary empire.  [77]  So it was that Constantine called together the first worldwide assembly of Christian bishops to deal with these issues amongst other things.  [78]  His stance regarding the social impact of a divided church was clear as he addressed the bishops before the council stating Division in the church was worse than war.  [79]   Athanasius refused to condone violence to achieve his goals. This was shown during a confrontation with rival bishop Gregory which escalated into violence. Athanasius response was to remove himself from the city in order to avoid further bloodshed.  [80]  Athanasius pastoral heart recognised the danger Arianism would bring to society, and that those who opposed Arianism would once again face persecution,  [81]  (only this time it would come from within). Athanasius also realised that Christianitys endpoint under Arianism was paganism leading to the demise of both social and moral standards as the Christian faith decayed to the depth of other pagan religions.  [82]   Section 3: Applying these lessons in todays society The issues which arose in Athanasius day are seen again today, challenging Christians across all nations to varying degrees. The three main areas of conflict faced by Athanasius and Christians today, are as follows. The first issue Christians face today is that of religious heresy. The many denominations now found under the Protestant banner demonstrates the splintering of the church into multiple denominations, further giving rise to cults barely related to the original Christian message.  [83]  Even the Arian controversy itself has re-surfaced in a modified form with the emergence of the Jehovah Witnesses.  [84]  One learns from Athanasius that even with insurmountable odds, someone must stand in the gap for truth, despite the cost it may have on your very being. Athanasius showed that one must persist until the end, to not only ensure truth is victorious, but that unity of the body of Christ is achieved. Looking at Athanasius stand, it is observed that he never gave up on the church body, despite overwhelming odds opposing him. Athanasius worked within the existing church structure, resisting the temptation to start his own religious theological group. This resulted in the survival of the ancient church, giving Christians of this present day a functional theological base to build upon. Todays second issue encompasses the relationship between church and state. This battle is being played out across the world. Christians in many western countries have formed specifically Christian political parties,  [85]  based upon the Christian stance and influencing government policy where possible.  [86]  Globally we see countries like Communist China and the old Russia where the government took an active role in trying to discredit and eliminate religion  [87]  through persecution and unjust laws. Unable to defeat the church of Christ some adopted a policy of offering religious freedom with harsh restrictions under the tight control of the government.  [88]  We learn through Athanasius trials, the dangers of mixing politics and religion, with the corruption and misuse of the church which can come from such a union. Today we face the seeds of secular intervention in Christian belief and activity with Australias recent discrimination and vilification laws having t he potential to silence the church. The final lesson deals with the society or community in which Christians live. Constantine saw that the unity of the Christians could hold the fabric of the Roman Empire together, and Christians may exert a similar influence today. The gradual decay of present society towards a collapse in its social moral character is evident with the increasing occurrence of problematic behaviours (in societal terms) such as abortion, child and spousal abuse, and euthanasia (in some western countries). From a Christian stance, moral indicators such as divorce, suicide and problem pregnancies are also increasing in frequency. Some indicators show a decreasing difference between secular society and the Christian community as Christian beliefs are influenced and eroded. The past reveals that to avert social disaster, Christians need to be unified, offering stable standards and clear beliefs tempered with peace, hope and love to the communities and nations in which they live: Offering Christ as the rea l alternative to modern paganism. Athanasius demonstrates that the church must get back to its roots and be a vessel of good news, offering Salvation to mankind. Conclusion The church would do well to look back on the life of Athanasius and learn from the lessons that this great man of God teaches. Although the works of Athanasius hold an important place in the history of Christianity, it is more the Life and stance of Athanasius which speaks volumes to Christians throughout the ages. It was Athanasius tireless and fearless stand against the Arianism which earned him the title Champion of Nicene orthodoxy. Against seemingly insurmountable odds, Athanasius opposed heretical change, battling both the hierarchy of church and state. The tenacity and vision of one man, refusing to recant his theological stance on Christs deity and the role of the church, established and impacted the churchs direction to this day. In most Western countries the protestant church is independent of the states influence  [89]  with a primary focus stayed true around the message of Christ bringing salvation through his deity and subsequent efficacy of his substitutionary sacrifice.

Causes and Effects of Child Poverty in Britain

Causes and Effects of Child Poverty in Britain TAQ 1: TOPIC: CHILD POVERTY IN BRITAIN: THE CAUSES AND THE EFFECTS. TAQ 2: TOPIC: CHILD POVERTY IN BRITAIN: AN ANALYSIS OF THE CAUSES AND THE EFFECTS. The aim of this essay is to discuss and analyse the causes and effects of child poverty in Britain. It will start by giving a definition of child poverty, explaining and analysing the causes and effects of child poverty distinguishing between fact and opinion, looking into the severity of the effects of child poverty and lastly, suggesting ways with which this menace can be dealt with. According to According to the United Nations Childrens Fund (UNICEF 2006) children living in poverty are those who experience deprivation of the material, spiritual and emotional resources needed to survive, develop and thrive, leaving them unable to enjoy their rights, achieve their full potential or participate as full and equal members of society. The Christian Children Fund (CCF) definition is based on Deprivation (lack of essential conditions and services needed for the development of a child’s full potential), exclusion (denial of rights, dignity and voice as a result of prejudiced processes) and vulnerability (incapability of society to handle deal with threats to children in their environment). Children living in poverty are as a result of being born to poor parent(s) who are poor as a result of various reasons such as unemployment or low paid jobs, lack of education, government policies, disabilities and discrimination. When a parent lacks the required resources such as a regular disposable income to bring up a child, that child’s well-being is restricted. Other causes of child poverty includes teen pregnancy, unplanned pregnancy, increase in number of single parents (a child raised by a single parent is more likely to live in poverty than that raised by a couple) and insufficient benefits (CPAG 2015). In United Kingdom, the benefits system is in place to act as a safety barrier for people who are out of work or earn insufficient amount of money. The reality is that these benefits are hardly ever enough to cater for the needs of these people thereby affecting their families, leaving them to live below the poverty line (CPAG 2015). The effects of child poverty are not far fetching. This menace damages a child in all aspects- physically, socially, emotionally. A child living in poverty is prone to ill-health, low attainment in life, low morale and a feeling of rejection. These can give rise to anti-social behaviours which will in turn affect the society. According to Child Poverty Action Group (CPAG 2015), it was reported that child poverty costs the United Kingdom at least  £29 billion pounds each year,  £20. 5 billion of which is a direct cost to the government due to the additional demands for services and benefits. To effectively curb this issue, there has to be a collective effort from both the government and her people. The government has to provide profitable jobs with excellent incentives to motivate people to work; better benefits structure, where benefits received is not too much to discourage work and at the same time not too low in which case they are found living below the poverty line. REFERENCES AND BIBLOGRAPHY Child Poverty Action Group. 2015. Child poverty facts and figures. [Online] Child Poverty Action Group. Available at: < http://www.cpag.org.uk/child-poverty-facts-and-figures> [Assessed 16 February 2015]. Enrique, et al. 2006. Children living in poverty: Overview of definitions, measurements and policy. [Pdf] New York: United Nations Children’s Fund. Available at: < http://www.unicef.org/Children_Living_In_Poverty.pdf> [Assessed 16 February 2015]. TAQ 3: CHILD POVERTY IN BRITAIN: WHY YOU SHOULD ACT. Child poverty in Britain is a phenomenon that should be addressed by everyone whether an individual is being classed as middle class citizen or not as it affects the whole society in the long run. Having read through a few articles on child poverty, interesting facts and figures has made me both curious and emotional. According to the Child Poverty Action Group’s write up (CPAG 2015) which I read online, there are currently 3.5 million children living in poverty in the United Kingdom, that’s a ratio of more than one in four. These kids live in deplorable conditions, often left cold and hungry, unable to play and have fun with friends or even go on school trips. All these situations affect them in the long term. The CPAG blog also reported that by the age of sixteen, children receiving free meals at school achieve 1.7 grades lower at GCSE than their wealthier peers; they leave school with lower qualifications which in turn lead to lower earnings over the course of a work ing life time and it has also been projected that 4.7 million children will be living in poverty by 2020. I personally find these figures appalling and saddening and I believe that while the government has a responsibility to her people, companies and individual members of the society all have a role to play if we are to tackle this issue effectively. Increases in the number of single mothers or parent, unplanned pregnancies, teenage pregnancies are some of the underlying causes of child poverty. Teenagers (kids who think they are adults and matured enough to make major decisions, feel it is their God- given right to be rebellious and can hardly take care of themselves) should not be having children. These teenagers need to be sexually educated, encouraged to get involved in profitable activities that will open their minds and expand their horizons so they can tap into their full potential. This is not to say that sometimes these kids would not derail from the right path. This is where having a strong family unit comes into play. If and when they do, they need to be supported emotionally, physically, financially especially by family. Companies (minor, major, multi- national) should also be involved. These companies should have a social responsibility to the community in which they are operating. Having support groups, organising campaigns, making regular donations in cash and in kind and creating awareness will suffice. The government should not be less concerned. She has a duty to provide basic amenities, profitable jobs and benefits structure that will motivate and inspire her people. Children are gifts that should be cherished. They should not be born to suffer and live in poverty. They need to be nurtured in love because they are after all- OUR future.

W.B. Yeats and History Essay -- Poetry Poet Yeats

Yeats in Time: The Poet's Place in History All things can tempt me from this craft of verse: One time it was a woman's face, or worse-- The seeming needs of my fool-driven land; Now nothing but comes readier to the hand Than this accustomed toil. In these lines from "All Things can Tempt Me" (40, 1-5), Yeats defines the limitations of the poet concerning his role in present time. These "temptations" (his love for the woman, Maude Gonne, and his desire to advance the Irish Cultural Nationalist movement) provide Yeats with the foundation upon which he identifies his own limitations. In his love poetry, he not only expresses his love for Gonne, he uses his verse to influence her feelings, attempting to gain her love and understanding. In regard to the Nationalists, he incorporates traditional Irish characters, such as Fergus and the Druids, to create an Irish mythology and thereby foster a national Irish identity. After the division of the Cultural Nationalists, Yeats feels left behind by the movement and disillusioned with their violent, "foolish" methods. He is also repeatedly rejected by Gonne. These efforts to instigate change through poetry both fail, bringing the function of the poet and his poetry into question. If these unfruitful poems tempt him from his ?craft of verse,? then what is the true nature verse and why is it a ?toil? for the poet? Also, if Yeats cannot use poetry to influence the world around him, then what is his role as a poet? As ?All Things can Tempt Me? continues, Yeats addresses this question of role by describing the way he perceived bards in his youth. He speaks of the poet?s song, saying, "Did not the poet sing it with such airs/ That one believed he had a sword upstairs;" (7-8). Thi... ...ory is not a nightmare from which Yeats is trying to awake; it is the very world in which he lives. When he says that if Gonne had understood him he would have ?been content to live,? it is another way of saying that (since she can never understand him) he is not content to live. As a poet, he has undergone a kind of death, rendering him a lifeless observer of the present while becoming an active participant in the past which his poetry explores. Whether he sees this role as a dream or a nightmare, if Yeats ever awoke from history, he would cease to be a true poet and his verse would lose its true meaning. Works Cited Yeats, W.B.. Yeats's Poetry, Drama, and Prose. Ed. James Pethica. New York: Norton, 2000. Ramazani, Jahan. "The Elegiac Love Poems: A Woman Dead and Gon(n)e. " In Yeats's Poetry, Drama, and Prose. Ed. James Pethica. New York: Norton, 2002.

Light Observations :: essays research papers

Light Observations Made on 2-17-05 From the hours of 1800 to 2200 on Thursday 2-17-05, an inspection of the lights found on the exterior of the warehouses, container lots, pipe yard, and dock took place. After searching all the light fixtures on the outside of the warehouses there were only two found that possibly could cause a hazard to someone. The first one found was at bay door 1A-1, the fixture was hanging loose off the wall with wires exposed. 2B-2 was the other site with a possible hazard. The light fixture was missing it’s covering exposing it to the elements as well as anyone who goes to use it. There were also some lights found that were inoperable upon completion of the inspection. All lights found on the front side of warehouse 1 were in working condition, except for one of the sidelights found on the left of door 1B-3. The same can be said about the backside of the warehouse, the only one that was not working was the one found at 1A-2. Lights 2C-3, 2D-1, 2D-2, and 2D-3 on the front side of warehouse 2 worked, but all others were found to be inoperable. Only one of the sidelights found at 2D-3 on the backside of the warehouse works, but all others were in sufficient working condition. The light post, closest to 95 found behind warehouse 3, had one bulb that was not working. The second light post found at the back of the pipe yard, right next to 95, also looked like it was also about ready to go out. Light coming from that pole was very dim and in my observation not adequate. In J-Lot down by the gate, the first light that runs along the 95 side turns off and on randomly. This could cause a major hazard concern because the line of sight for individuals is greatly depleted. When entering A-Lot the light to the right is out. One of the quad lights found at the back of the lot is also out, along with one of the quads found at the front of the lot, facing the water. The whole container area located in Lot-A closest to the water needs to have more light because there is no light coming from the water side, making it very hard to see. After completing a survey of the dock it was noted that lighting is barely adequate for operation. Light Observations :: essays research papers Light Observations Made on 2-17-05 From the hours of 1800 to 2200 on Thursday 2-17-05, an inspection of the lights found on the exterior of the warehouses, container lots, pipe yard, and dock took place. After searching all the light fixtures on the outside of the warehouses there were only two found that possibly could cause a hazard to someone. The first one found was at bay door 1A-1, the fixture was hanging loose off the wall with wires exposed. 2B-2 was the other site with a possible hazard. The light fixture was missing it’s covering exposing it to the elements as well as anyone who goes to use it. There were also some lights found that were inoperable upon completion of the inspection. All lights found on the front side of warehouse 1 were in working condition, except for one of the sidelights found on the left of door 1B-3. The same can be said about the backside of the warehouse, the only one that was not working was the one found at 1A-2. Lights 2C-3, 2D-1, 2D-2, and 2D-3 on the front side of warehouse 2 worked, but all others were found to be inoperable. Only one of the sidelights found at 2D-3 on the backside of the warehouse works, but all others were in sufficient working condition. The light post, closest to 95 found behind warehouse 3, had one bulb that was not working. The second light post found at the back of the pipe yard, right next to 95, also looked like it was also about ready to go out. Light coming from that pole was very dim and in my observation not adequate. In J-Lot down by the gate, the first light that runs along the 95 side turns off and on randomly. This could cause a major hazard concern because the line of sight for individuals is greatly depleted. When entering A-Lot the light to the right is out. One of the quad lights found at the back of the lot is also out, along with one of the quads found at the front of the lot, facing the water. The whole container area located in Lot-A closest to the water needs to have more light because there is no light coming from the water side, making it very hard to see. After completing a survey of the dock it was noted that lighting is barely adequate for operation.

Respecting Teachers Essay

Gender differences are beginning to appear in the content men and women are downloading to their mobile phones. Games are mainly downloaded by men, while women are leading the current craze for ringtones. The findings form part of a quarterly survey of mobile usage commissioned by mobile marketing firm Enpocket. The research also found that 3G video is slowly growing, though services are only being used by a small proportion of UK mobile phone owners. Less than 3% use 3G, up from just 1% a year ago. The research also found that 3G video is slowly growing, though services are only being used by a small proportion of UK mobile phone owners. Less than 3% use 3G, up from just 1% a year ago. Young audience Mobile gaming is proving more popular, with 1.9 million people (5.8%) downloading a game to their phone in the last three months. It is predominantly men – 58% – that are keen to play games on their phones, with the majority being under 34. Young women on the other hand are getting into ringtones. They make just more than half of the 5.9 million people who downloaded a ringtone to their phone in the previous three months. Most pop hits are available as ringtones, costing between  £1.50 and  £3.50 per download. It is estimated that  £70 million worth of ringtones were sold in 2003. They are becoming so popular that accountancy firm KPMG is to release a fortnightly chart on the 20 most popular ringtones. The fact that people are prepared to spend money and time downloading content to their mobiles is great news for mobile firms. â€Å"Mobile owners are getting to grips with the more advanced features on handsets, beyond SMS,† said the chief executive of Enpocket Jonathon Linner. There are some things for companies offering 3G services to ponder though. As well as the low number of people using existing services, the survey found that less than 40% of those that own a 3G handset were actually using 3G services.

Ancient Greeks and Romans.

Running head ANCIENT GREEKS AND ROMANS par and Contrast of Grecians and romishs World Civilization 1 HIS 103 There were umpteen an early(a)(prenominal) different gardenings and nicetys in the ancient origination. Each of the cultures had their own usance and ethnology that either set them apart from the equipoise of the earth or rendered them sympathetic. Two civilizations that stand a multitude of similarities as sound(p) as differences ar the classics and the roman prints. In the eyeb each(prenominal) of whatsoever, the Greeks and Romans are synonymous. While they do go through their share of similarities, they in like manner countenance delimit characteristics that make them extraordinarily different.The Greeks and the Romans are similar and different in some(prenominal) aspects including religious belief, neighborly/political aspects, influence of geographic factors and the long-lasting effect they set out had on later civilizations. Abraham Linco ln once said, When I do good, I feel good when I do mediocre, I feel bad. Thats my righteousness. If only the Greeks and Romans thought of Religion with more than(prenominal) simplicity. twain ancient Roman and Greek civilizations took their religion very seriously and strengthened temples and shrines showing their appreciation to the gods. Religion was a very important aspect of Greek society and culture.They participated in sacrifices and regular worships of gods for the conclusion of unifying the people in a common goal to please the Gods. The Greeks were a polytheistic civilization and believed that their gods would protect their city-states if they were kept appeased. The Greeks pleased their gods by frequently perform rituals, sacrifices and ceremonies. Greek religion was more(prenominal) than legendary tales and fictitious myths it was a complex nerve with for all(prenominal) unitary city-state containing its own divinities, which acted to cement the dust of citizens into a true community (OConnell, 1999) .In this concept, the Romans were similar. They alike were polytheistic and very concerned well-nigh appeasing their gods. The Romans were great copiers. They borrowed umpteen of their gods from the Greeks, that unlike Greek gods, they were more frigidity and formal and did non have as much of a personality. The Romans lived under the gods and always tried to please them with rituals and sacred rites. The Romans also performed humans and animal sacrifices in summing up to the ceremonies. Over the years, these rituals became very complex and mandatory special people to perform them.Unlike the Greeks, the Romans had priests who were normally distinguished statesmen or generals. Roman religion and politics were intermeshed, and it was not uncommon for the emperor (during the empire stop consonant) to be worshipped as a god himself (OConnell, 1999) . Because the Greeks were separate into many different city-states, they had m any different forms of disposal. Aristotle divided the Greek governments into monarchies, oligarchies, tyrannies and democracies. In 510 B. C. he city-state of capital of Greece created the first democratic government and shortly thitherafter, the rest of the city-states followed suit (Carr, Ancient Greek Government, 2009) . They no womb-to-tomb had virtuoso bingle leader as the Romans did. capital of Italy was to begin with ruled by kings, in a monarchal system. After this time period known as the Ancient Roman period, the Roman nation was formed in 509 BC. The Roman Republic provided for a more representative government. Roman imperialism created a muscular gap in wealth and loving classes within capital of Italy.With such power and wealth, there was great economic as well as social conflict. The noblemen of Rome were forever fighting for more wealth as small farm owners suffered when large plantations were macrocosm formed with slaves. The Roman nobles were fighting for avariciousness and personal wealth creating extensive conflicts in Rome. Despite the conflict, the development of political institutions was one of Romes great accomplishments (Carr, 2009) . As the documentary source Histories The Roman paper clear exemplifies, the Romans had a very utile political system.As Polybius states in this excerpt, For the people is the sole fountain of honor and of punishment and it is by these two things and these alone that dynasties and constitutions and in a word, human society are held unitedly for where the distinction between them is not sapiently drawn both in speculation and practice, there no undertaking butt joint be properly administered as indeed we might expect when good and bad are held in exactly the corresponding honor. It is clear that the Roman constitution is equally balanced in power, and has contributed to the strength of the Roman ivilization (Sherman, Grunfeld, Markowitz, Rosner, & Heywood, 2006) . Dr. Martin Luthe r King Jr. once said, ladder force hate each other because they panic each other, and they fear each other because they dont know each other, and they dont know each other because they are often disjunct from each other. The many ancient Greek city states were isolated from one other by the mountainous terrain of the Greek peninsula. a good deal of their land was barren so almost Greek city-states arose along the coastline. Map 4-2 clearly shows the extent of Greek settlements somewhat the Mediterranean and Black Seas between 750 and 550 B.C. E. It exemplifies the Greek civilization by illustrating the location of the Greek colonies in comparison to the competing Phoenician colonies that the Greeks often came into turn over with. It also shows the importance of colonies for diffusing culture through knocked out(p) the Mediterranean and explains how Greek and Graeco-Roman civilization came to dominate most of the Mediterranean basin even when the Greeks were no longer a gr eat military-political force and their colonies ceased to be independent. Because the Greeks were surrounded by mountains, they were not as open to attack as the Romans were.Map 5-1 clearly shows some of the civilizations that occupied Italy and its immediately meet territory during the fifth hundred B. C. E. It and exemplifies the Roman civilization by illustrating the many influences other civilizations had upon the Roman Republic. Before Rome became a dominant power, the Etruscans, Carthaginians and Greeks all ready had strong literate sophisticated civilizations. As Rome expanded, many of the institutions and practices of these civilizations were incorporated into their civilization.Therefore, Romes geographic and cultural environs played an important role in the development of the Roman Republic (Sherman, Grunfeld, Markowitz, Rosner, & Heywood, 2006) . The Roman and Greek cultures have long been esteem for their literature, government and scientific accomplishments. They have not only left their foot prints on later civilizations, but they expect to be studied and admired all around the world today. Greece was home to Herodotus (the first historian) who is regarded as the father of history. Greece is also ecognized for accomplishments such as the initial development of dramatic and comedic plays, and for being the home of the first mathematicians. In addition, Greece contributed many developments in political science including the worldly concern of state and republics and the fundamentals of classical occidental philosophy, as found in the whole kit and caboodle of Plato and Aristotle (Conservapedia, 2008) . In The Republic as compose by Plato, land is scrutinized. This literary work exemplifies the Greek civilization by illustrating how nation was implemented, yet also met with resistance and criticism.Plato says Because of the independence which reigns there they have a off assortment of constitutions and he who has a sagacity to est ablish a State, as we have been doing, must go to a democracy as he would to a funfair at which they sell them, and pick out the one that suits him then, when he has made his choice, he may found his State. It is clear that Plato did not hold the Athenian form of democracy in highest regards (Sherman, Grunfeld, Markowitz, Rosner, & Heywood, 2006) . The Romans contributed just as much as the Greeks did.Their styles of architecture are yet employ around the world today. approximately importantly, Christianity arose and was adopted as the official faith of the Roman Empire. Although it contradicted Roman civilization by insisting that there is only one God, it withal pertaind to spread throughout Rome and much of atomic number 63. The Roman Republic conquered Greece in 146 BC. They took much of the Greek religion and incorporated it into their own until the 4th century CE when Christianity prevailed. The Greco-Roman population in the seventeenth century did much to define the modern western world.The philosophy focused strictly on the role of sympathy and inquiry. Many philosophers today concede that GrecoRoman philosophy has shaped the entire western sandwich thought since its foundation. Their architecture styles are even-tempered used as well as the democratic form of government which is used not only in Europe but all around the world. 17th century Greco-Roman literature is still renowned, studied by historians and taught in schools all over the world. Greek and Roman contributions to the contemporary world are great in both number and significance.Their advancements in mathematics, architecture, science, philosophy, government and literature not only mod their own civilizations but the world as a whole. Humanity has benefited greatly from the contributions of the Greeks and Romans. The world would be an entirely different taper if the Romans and Greeks had not existed. The Greeks and Romans have existed in the world as separate entities and also as one community. Because they have been so intermingled, in some ways they are parallel.The Greeks and the Romans are similar and different in many aspects including religion, social/political aspects, influence of geographical factors and the lasting effect they have had on later civilizations. The Greek and Roman civilizations were some of the greatest civilizations to evolve. They mutually succeeded in showing other civilizations both how to succeed and how to bomb at the things which men might try. Both civilizations had their peaks and their declines. While these two great civilizations prolong to present their similarities, they also are extensively different.Just like many countries today have their similarities and also their differences. Despite the many proficient and societal advances achieved by societies today, wars still continue to ravage the world. That fact has not changed. Differences continue to divide the globe and until we can insure them, will always do so. Our greatest strength as a human race is our ability to acknowledge our differences our greatest weakness is our failure to embrace them (Henderson, 2009). References (2008, family 7). Retrieved March 11, 2009, from Conservapedia http//www. conservapedia. com/Greek_influence_on_Western_CultureCarr, K. (2009, January 15). Ancient Greek Government. Retrieved April 11, 2009, from Kidepede http//www. historyforkids. org/ chequer/greeks/government/ Carr, K. (2009, January 15). Kidepede. Retrieved April 11, 2009, from Roman Government http//www. historyforkids. org/ condition/romans/government/ Grunfeld, A. T. , Heywood, L. , Markowitz, G. , Rosner, D. , & Sherman, D. (2006). World Civilizations Sources, Images, and Interpretations (4th Edition ed. , Vol. I). in the altogether York McGraw Hill. OConnell, L. (1999). Paganism Past Present. Retrieved March 10, 2009, from ThinkQuestdepository library

Management Accounting – Setting Prices

cco Management Accounting tutorial 5 15-3. List and before ample describe 4 major gos on chink decisions Customer fill the demands of nodes argon of paramount importance in all(a) phases of business operations, from the project of a crossroad to the scope of its value. Product-design issues and set considerations are interrelated, so they essential be examined simultaneously. For example, for a mellower quality harvesting you pack higher quality materials which give affect a higher monetary value and needs more fourth dimension and this will lead to a higher set on a carrefour.Also, a manager moldiness non step uplay its result out of the food commercialize worth range. Actions of Competitors companies essential keep an eye on its competitors. If its competitor reduces its set on a product, they capability have to follow suit to avoid losing its commercialize place share. However, one must non follow the actions of its competitors blindly as a f amiliarity has to predict militant reactions to its product-design and set strategy. The company must withal be careful to properly define its product, much(prenominal) that if they amplification the price of the product will the consumers continue acquire the product?Costs some prices are decided almost entirely by market forces. Industries such as agriculture where most products are market-driven. To enhance a pay, farmers must produce at a live below the market price. This is very unsteady as it is not always possible to produce at a price lower than the market price and this will inevitably lead to losses for the farmers. In other industries, prices are set by adding a markup to production cost so managers do have some latitude in find the markup. Therefore, both market forces and cost considerations heavily influence prices.No organization or industry s excessivelyge price its products below their production be indefinitely. And no companys management rear set prices blindly at a cost plus a markup without keeping an eye on the market. Political, Legal and image-related issues managers must adhere to certain laws. The law generally prohibits companies from discriminating among their customers in range prices. It is also forbidden in collusion in price setting surrounded by major unbendables. Political considerations also can be relevant.For example, if the fast(a)s in an industry are perceived by the public as reaping unfairly large breads, in that location may be political pressure on legislators to tax those profits differentially or to deputize in some way to regulate prices Companies also consider their public image in the price-setting process. A fast with a reputation for very high quality products may set the price of a untested product high to be reproducible with its image. 15-11. Write the general recipe for indeterminate pricing, and briefly beg off its uptake. Price = Cost + (Markup % * Cost) 15-12. List the 4 common cost footings apply in undetermined pricing.How can they all result in the uniform price? Variable manu positionuring cost + (Markup % * Variable manufacturing cost) tightness manufacturing cost + (Markup % * Absorption manufacturing cost) jibe cost + (Markup % * Total cost) Total covariant cost + (Markup % * Total varying cost) Several different definitions of cost, each combined with a different markup percentage can result in the same price for a product or service. 15-13. List 4 reasons a lot cited for the widespread use of absorption cost as the cost origin in indeterminate pricing formulas. In the long run, the price must over all be and a normal profit margin.Basing the undetermined formula on only inconsistent costs could abet managers to set in like manner low a price in order to boost sales. This will not happen if managers understand that a variable cost-plus pricing formula requires a higher markup to counterbalance fixed costs and profit. N everthe little, many managers argue that tribe tend to view the costs base in a cost-plus pricing formula as the news report for setting prices. If prices are set too close to variable manufacturing cost, the firm will erupt to cover its fixed costs. Ultimately, such a exercise could result in the failure of the business. Absorption-cost or derive-cost pricing formulas provide a justifiable price that tends to be perceived as equitable by all parties. Consumers generally understand that a company must make a profit on its product or service in order to extend in business. Justifying a price as the total cost of production, sales, and administrative activities, plus a just profit margin, seems reasonable to buyers. When a companys competitors have similar operations and cost structure, cost-plus pricing establish on full costs gives management an idea of how competitors may set prices Absorption-cost teaching is provided by a firms cost accounting system of rules, because i t is required for external financial report under generally accepted accounting principles. Since absorption-cost learning already exists, it is cost-effective to use it for pricing. The alternative would contain preparing specific product-cost entropy specifically for the pricing decision. In a firm with hundreds of products, such data could be expensive to product. 15-14. What is the immemorial disadvantage of basing the cost-plus pricing formula on absorption cost? The primary disadvantage of absorption-cost or total-cost pricing formulas is hat they unvalued the cost behavior pattern of the firm. Since absorption-cost and total-cost data imply allocated fixed costs, it is not clear from these data how the firms total costs will replace as intensity level changes. Another way of stating this reproof is that absorption-cost data are not consistent with cost-volume-profit abstract. CVP analysis emphasizes the distinction between fixed and variable costs. This get along enables managers to predict the effects of changes in prices and sales volume on profit. Absorption-cost and total-cost selective information obscures the distinction between variable and fixed costs. 5-15. List 3 advantages of pricing based on variable cost Variable-cost data do obscure the cost behavior pattern by unitizing fixed costs and making them appear variable. Thus, variable-cost information is more consistent with cost-volume profit analysis often used by managers to see the profit implications of changes in price and volume Variable-cost data do not require allocation of common fixed costs to individual product lines. Variable-cost data are just now the type of information managers need when facing certain decisions, such as whether to accept a special order.This decision often requires an analysis that separates fixed and variable costs 15-16. Explain the behavioral problem that can result when cost-plus prices are based on variable cost. If the managers perceive the variable cost of a product or service as the floor for the price, they may tend to set the price too low for the firm to cover its fixed costs. Therefore, if variable-cost data are used as the prat for cost-plus pricing, managers must understand the need for higher markups to look that all costs are covered. 15-17. presently explain the concept of return-on-investment pricingA common approach to determine the profit margin in cost-plus pricing is to base profit on the firms pose return on investment 15-18. Explain the articulate price-led costing. can costing sets the pose cost by first determining the price at which a product can be sold in the marketplace. Subtracting the target profit margin from this target price yields the target cost, that is, the cost at which the product must be make. This straightforward, but strategically important, relationship can expressed in the following equationTarget cost = Target price Target profit 15-19. Why is a focus on the custom er such a key principle of target costing? To be successful at target costing, management must listen to the companys customers. Management needs to aggressively seek customer feedback and then the products must be designed to requite customer demand and be sold at a price they are willing to pay. In short, the target costing approach is market driven. 15-25. list the following approaches to pricing new products skimming pricing, acuteness pricing and target costing.Skimming pricing which the sign product price is set high, and short-term profits are reaped on the new product. The initial market will be small, due in part to the high initial price. This pricing approach often is used for unique products, where there are people who must have it whatever the price. As the product gains acceptation and its appeal broadens, the price is lowered gradually. Eventually, the product is priced in range that appeals to several kinds of buyers. Penetration pricing which the initial price is set relatively low. By setting a low price for a new product, the management hopes to penetrate a ew market deeply, quickly gaining a large market share. This pricing approach often is used for products that are of groovy quality, but do not stand out as vastly better than competing products. Target cost where the company first uses market research to determine the price at which a new product can be sold. Given the likely sales price, management computes the cost for which the product must be fabricate in order to provide the firm with the cost for which the product must be manufactured in order to provide the firm with an gratifying profit margin.Finally, the engineers and cost analysts work together to design a product that can be manufactured for the allowable costs. This method is used widely by companies in the development stages of new products. It is projected semipermanent cost that will enable a firm to enter and remain in the market for the product and compete succ essfully with the firms competitors. 15-27. Briefly explain the potential negative consequences in pricing decisions from using a traditional, volume-based product-costing system. Use of a traditional, volume-based product-costing system may result in significant cost distortion among product lines.In many cases, high-volume and relatively simple products are overcosted while low-volume and complex products are undercosted. This results from the fact that high0volume and relatively simple products require proportionately less activity per unit for various manufacturing support activities than do low-volume and complex products, yet a traditional product-costing system, in which all overhead is assigned on the basis of a single unit-level activity like DL hours, it fails to capture the cost implications of product diversity.