Industry Analysis Report on Kmart Essay -- Business and Management Stu

Industry Analysis Report on Kmart INTRODUCTION Kmart is a huge vintage company that had peeked at one time and now is struggling to survive due to competition and other legal battles. This analysis report will describe and analyze the major forces that shape the structure and competitive intensity of Kmart. This report will look at Kmart’s history, competitors, marketing strategies, and some legal battles that have affected the company. The shaping and structuring of Kmart started more than one hundred years ago. HISTORY Over a century ago, Sebastian Spering Kresge opened a small store in Detroit, Michigan and tainted the entire setting of retailing. He built this store not intending that his store would develop into an empire of more than twenty one hundred stores and an Internet presence that reaches millions of customers everyday. The S.S. Kresge Company founded in 1899, opened its first Kmart discount store in 1962. By the next year, Kmart had opened 53 stores, on the verge of being the number one retailer. In the 1970s, Kresge began opening smaller 40,000 square foot stores in smaller towns and switched from brand name to private label goods manufactured internationally at low cost. Over the years, Kmart hurt its own development efforts by diversification into specialty retailing, which brought it close to bankruptcy. In the 1990’s, the company had to sell off its Sports Authority, Borders, Office Max and Builders Square chains. A decade later in the twentieth century Charles Conaway replaces Floyd Hall as chairman and CEO. About a year after the new chairman and CEO joins Kmart, the corporation bought BlueLight.com Internet service and soon there after Kmart Corporation files for Chapter 11 bankruptcy protection due to stiff competition, corrupt leadership, and bad financial planning. COMPETITORS Kmart filed for bankruptcy protection, once the largest retailer ever to do so in U.S. history. Most industry analysts believe the cause of the company's bankruptcy filing was due to stiff competition from WalMart, Target, and lack of marketing strategies. Besides, when WalMart and Target predictably entered into Kmart's territory, Kmart had given its customers every reason to go somewhere else. With more than 4,000 stores and insistent expansion plans, WalMart is a one of the strongest retail forces. Thei... ...les is still functioning. This analysis report described and analyzed the major forces that shape the structure and competitive intensity of Kmart. This report reviewed Kmart’s history, competitors, marketing strategies, and a few legal battles that have affected the company. Kmart needs to realize the need to developing a strong marketing strategy before they are forced to go out of business. REFRENCES Accela Communications Inc (2003). â€Å"BlueLight folding into Kmart, lays off staff.† http://www.itworld.com American City Business Journals, Inc. (2003) â€Å"Kmart reports $862M first quarter net loss.† http://www.albuquerque.bizjournals.com Fox News Network (2003). â€Å"Kmart Web Site Answers Angry Shareholder Questions.† http://www.foxnews.com InfoWorld Media Group (2001). †Benefits of a slowdown.† http://www.archive.inforworld.com Kmart Corporation (2000). â€Å"More Information about K-Mart.† http://www.kmartcorp.com Microsoft Corporation (2003) â€Å"Kmart’s 5 big blunders.† http://www.bcentral.com The Detroit News (2002) â€Å"A look at Kmart’s History.† http://www.detnews.com Where It’s @ (2002). â€Å"Kmart-Running Out of Time.† http://www.retailindustry.about.com Industry Analysis Report on Kmart Essay -- Business and Management Stu Industry Analysis Report on Kmart INTRODUCTION Kmart is a huge vintage company that had peeked at one time and now is struggling to survive due to competition and other legal battles. This analysis report will describe and analyze the major forces that shape the structure and competitive intensity of Kmart. This report will look at Kmart’s history, competitors, marketing strategies, and some legal battles that have affected the company. The shaping and structuring of Kmart started more than one hundred years ago. HISTORY Over a century ago, Sebastian Spering Kresge opened a small store in Detroit, Michigan and tainted the entire setting of retailing. He built this store not intending that his store would develop into an empire of more than twenty one hundred stores and an Internet presence that reaches millions of customers everyday. The S.S. Kresge Company founded in 1899, opened its first Kmart discount store in 1962. By the next year, Kmart had opened 53 stores, on the verge of being the number one retailer. In the 1970s, Kresge began opening smaller 40,000 square foot stores in smaller towns and switched from brand name to private label goods manufactured internationally at low cost. Over the years, Kmart hurt its own development efforts by diversification into specialty retailing, which brought it close to bankruptcy. In the 1990’s, the company had to sell off its Sports Authority, Borders, Office Max and Builders Square chains. A decade later in the twentieth century Charles Conaway replaces Floyd Hall as chairman and CEO. About a year after the new chairman and CEO joins Kmart, the corporation bought BlueLight.com Internet service and soon there after Kmart Corporation files for Chapter 11 bankruptcy protection due to stiff competition, corrupt leadership, and bad financial planning. COMPETITORS Kmart filed for bankruptcy protection, once the largest retailer ever to do so in U.S. history. Most industry analysts believe the cause of the company's bankruptcy filing was due to stiff competition from WalMart, Target, and lack of marketing strategies. Besides, when WalMart and Target predictably entered into Kmart's territory, Kmart had given its customers every reason to go somewhere else. With more than 4,000 stores and insistent expansion plans, WalMart is a one of the strongest retail forces. Thei... ...les is still functioning. This analysis report described and analyzed the major forces that shape the structure and competitive intensity of Kmart. This report reviewed Kmart’s history, competitors, marketing strategies, and a few legal battles that have affected the company. Kmart needs to realize the need to developing a strong marketing strategy before they are forced to go out of business. REFRENCES Accela Communications Inc (2003). â€Å"BlueLight folding into Kmart, lays off staff.† http://www.itworld.com American City Business Journals, Inc. (2003) â€Å"Kmart reports $862M first quarter net loss.† http://www.albuquerque.bizjournals.com Fox News Network (2003). â€Å"Kmart Web Site Answers Angry Shareholder Questions.† http://www.foxnews.com InfoWorld Media Group (2001). †Benefits of a slowdown.† http://www.archive.inforworld.com Kmart Corporation (2000). â€Å"More Information about K-Mart.† http://www.kmartcorp.com Microsoft Corporation (2003) â€Å"Kmart’s 5 big blunders.† http://www.bcentral.com The Detroit News (2002) â€Å"A look at Kmart’s History.† http://www.detnews.com Where It’s @ (2002). â€Å"Kmart-Running Out of Time.† http://www.retailindustry.about.com

Behavior Description Interview Essay

You have invested the time of several experienced employees and a good deal of expense to interview a number of promising entry-level accountants. However, you wonder if your interviewing techniques are really helping you hire the job candidates that will be superior performers and help your organization remain profitable. Your concerns may be justified if you are using a typical interviewing strategy in which there is no standard set of questions or a strategy in which interview questions do not explicitly focus on the past behavior of the applicant. Yet, there is an alternative. Studies in human-resource management suggest that behavior description interviewing may help you identify better performers from the rest of the applicants PRINCIPLES OF THE BEHAVIOR DESCRIPTION INTERVIEW The first principle of the Behavior Description (BD) interview is interviewers standardize or structure the interview. The most important aspect of standardization is asking applicants the same or highly Similar questions. This allows all applicants to have a chance to provide information about certain job-related concerns and allows interviewers to compare similar types of information. The alternative of each interviewer asking their own questions will have your organization comparing apples and oranges when trying to make hiring decisions. Often this leads to lower quality hiring decisions. An organization may also seek to standardize the location of the interview, the individual who conducts the interview, etc. Any efforts to ensure similar treatment of applicants should be encouraged. An additional benefit of standardizing interview questions is that the interview is more defensible in court. In the past, organizations that had standardized questions won employment discrimination lawsuits more often than those without standardized questions. The second principle of BD interviewing is to explicitly focus on past behavior. BD enthusiasts believe that past behavior is the best predictor of future behavior. They also believe more recent behavior is a better predictor of future behavior than older behavior and that longstanding trends are better predictors of behavior than isolated incidents. The belief in the effectiveness of using past behavior to predict future behavior leads BD interviewers to ask certain questions. These questions use a superlative adjective (e.g. most, least, toughest, etc.) to focus the applicant on one particular incident of behavior. For example, accounting firms need staff members who are willing to address both internal and client problems. To gather relevant information about an applicant, a BD interviewer might ask the applicant to â€Å"tell me about the last time a new idea of yours helped an organization or group work better.† The interviewer might also be ready with follow-up questions such as â€Å"how did you develop this idea,† â€Å"how did you convince your supervisor or client to adopt it,† and â€Å"how did it help the organi zation?† The follow-up questions may be answered as the applicant discusses a particular situation, but their presence alerts the interviewer that this information is important. In another instance, accounting professionals are often called upon to make presentations to groups such as audit committees or boards of directors. Accordingly, an interviewer might ask a job candidate to â€Å"tell me about the most difficult presentation you have ever had to make to a group of five or more people.† Probes might include â€Å"what was the presentation about,† â€Å"how did you prepare for it,† and â€Å"was the presentation evaluated or graded?† In each case, the BD approach to interviewing should yield a large amount of high quality information to the interviewer and can help the somewhat anxious applicant have a particular incident to discuss. The BD approach to interviewing can be strongly contrasted with more typical interviewing strategies. First, typical strategies suggest interviewers â€Å"let candidates take the interview where they want to,† â€Å"go with the flow,† or let the interviewee talk about any subject they desire so that you can best assess their personality. While this advice is encountered frequently, it is highly inaccurate. Studies contrasting BD interviewing to this approach show that the BD interview does a much better job of predicting job performance. In addition, studies that statistically combine the results of 10,000+ interviews from many smaller studies strongly suggest that various styles of interviews that standardize questions or other aspects of the interview work much better than the nonstandardized interview styles. Second, BD interviewing seeks to avoid making judgments of applicants’ personalities. Assessing personality characteristics in a 345 minute interview would be highly difficult for a psychologist. As a result, many professionals rely on well established tests to measure personality–they are cheaper to use and much more accurate. Additionally, many personality characteristics do not have a history of predicting job success. Currently, many human resource management professionals believe intelligence and dependability do differentiate higher performers from lower performers. Extroversion, considered by many to be a positive trait for auditing personnel, also differentiates higher versus lower performers in some situations. Other traits should be viewed with caution until they clearly are shown to relate to job performance. Care should also be taken in trying to match the personality type of an applicant to the personality of the office. While it is extremely difficult to measure either of the above, it is also potentially hazardous. The solution to this problem is to avoid using most personality traits and ask applicants about past behavior that may be similar to behavior required on the job. Finally, the BD interviewer tries to avoid hypothetical and self evaluative questions. In most cases, there is little evidence to suggest that most hypothetical questions actually distinguish between better and poorer performing individuals. This may be due to the difficulty of injecting enough â€Å"reality† in the situation to make it a good predictor of job success. Self-evaluative questions such as â€Å"describe yourself† or â€Å"are you computer literate† also have no history of predicting job performance. In addition, they ask the applicant to do your job for you. You should decide how competent applicants are in a particular area since you are worried about their contribution to your organization. Applicants’ answers are influenced to a large degree by their desire to land a job. BD interviews differ from situational interviews. Recent literature has confused the two approaches. While the BD interview focuses on past applicant behavior, the situational interview asks applicants how they would behave in future situations (extensive research is used to create real situations). The situational interview can also require different types of rating scales to be used at the end of the interview. While there are several differences between BD interviewing, situational interviewing, and typical interviews, there are also similarities. BD interviewers also believe it is important to break the ice with applicants, that they should ask for an applicant’s preferred name, that they should take notes, and they should close the interview in a professional manner. These guidelines are important in any style of interview. STEPS TO CONSTRUCTING A BD INTERVIEW Three steps should be used to develop a BD interview. They are illustrated in the following hypothetical example involving the hiring of entry-level accountants in a CPA . Interviewers need to analyze the job and determine the key results areas. Key results areas are the major tasks or behaviors that an entry-level accountant must be able to accomplish. Key results areas may be defined by many different strategies including a discussion among recruiters, managers, and partners. Key results areas might include: 1. Communicate with other individuals-a. In verbal and written forms with other accountants including supervisors and peers; b. In verbal and written forms with clients; 2. Diagnoses organizational problems; 3. Recommend solutions to organizational problems; and 4. Use common computer software (e.g., spreadsheet programs, data retrieval software, on-line services, or tax-preparation packages). The above behaviors or tasks should be examined to determine the knowledge, skills, and abilities (KSAs) that will enable them to be accomplished. Thus, an entry-level accountant should have: 1. Written communication skills to interact through letters and reports to clients and other accountants; 2. Verbal communication skills to communicate with clients and other accountants (not necessarily including making presentations to large groups); 3. Ability to diagnose problems in complex situations; 4. Ability to solve problems individually and in groups; 5. Ability to attend to large amounts of detail; 6. Ability to manage multiple tasks; 7. Knowledge of common software programs; The KSAs required lead to a selection plan that involves a series of BD questions. In this example it is assumed that there will be two interviews: a recruiting interview at the school and an invitation to the firm’s office. To evaluate the candidate’s KSAs the following questions and probes might be used. 1 Written communication skills a. Ask for a sample of writing from a professional or educational setting before the second interview. 2. Verbal communication skills: a. Watch for verbal communication skills throughout each interview and rate them at the end of the first and second interviews. 3. Ability to diagnose problems in complex situations: a. Tell me about the last time you recognized a problem in an organization in which you were involved. * How did you recognize the problem? * How did you study the problem? * How did you determine a solution to the problem? b. Tell me about a time in the last year in which you were gathering information from a person who was being uncoopeative. * What was the situation? * Why were they being uncooperative? * How did you feel? * How did you get the information you needed? * What was the result in this situation? 4. Ability to solve problems individually and in groups/teams: a. What was the most successful solution that you and a group of other individuals developed to a particular problem? * What was the problem? * What was your role? * What was the result of your solution? b. What is the toughest problem that you as an individual have solved in an educational or work setting? * What was the problem? * What was the result of your solution? 5. Ability to attend to large amounts of detail: a. Tell me about the last time when you had to gather large amounts of information to complete a project. *What was the project? *How did you organize the details? * What was the end result? * Did anyone assign you a grade for the project? b. Which class of yours required the most attention to detail. Please tell me how you dealt with the demands of the class. * How did it require attention to detail? * What was your strategy to deal with the detail? *What was the result? 6. Ability to manager multiple tasks: a. Tell me about how you managed your school work and extracircular activities during your busiest semester. * What made the semester so busy? * Did you have any priorities? * Where there any strategies that helped you cope? * How did the semester turn out (in terms of grades, activities, etc.)? b. Tell me about the last time you had to â€Å"juggle† several different responsibililties when you held a job. * What were the responsibilities? * Did you have any priorities? * Where there any strategies that helped you cope? 7. Knowledge of computer software programs: a. Please tell us about the most involved computer project that you have been involved with in school or in an organization. * What software was involved? * What was your role? * What was the result or grade? 4. Please tell us about the last time you learned a new piece of software. * What did it help you accomplish? * How did you learn it? * Did you enjoy the experience? c. Please tell us about any time that you used a spreadsheet program such as Lotus 1-2-3, Quattro Pro, or Excel. * Was individually or a group? *What did you need to accomplish? * What was the result or grade? Once the questions are developed, recruiters should organize the questions and probes into some logical order on an interview form. The form may provide reminders to greet the applicant warmly and any other reminders desired by the recruiters. It should definitely leave enough room for notes about the answer to each question. These notes can be extremely helpful when recruiters are trying to remember the remarks of each person recently interviewed. We recommend that recruiters practice with the new interviewing form. Recruiters may pair off and take turns playing the interviewer and the applicant, or they may wish to enlist a student to go through an interview. The trial interviews could be recorded on a video camera. The feedback from the video playback is often a very valuable learning experience. Lastly, an interviewer evaluation report should be designed to record ratings for each candidate. The process is relatively simple once the knowledge, skills, and abilities (KSAs) required by the job have been listed. We suggest that recruiters list all the KSAs down one side of the paper as seen in Figure 1. (Figure omitted) This will allow a systematic consideration of each applicant against job requirements. Next, recruiters should choose a rating scale. We have – chosen a five-point scale anchored by â€Å"very little† of the KSA on one end of the scale and ‘a great amount† on the other end of the scale Scales should have from five to seven points and anchors meaningful to the recruiters. A place for notes or comments and a set of simple instructions is also recommended. Finally, there should be a place for an overall evaluation of the candidate. There are several different methods which can be used to generate an overall evaluation score. A recruiter can make an overall evaluation of the candidate on the same scale used for each KSA. Unfortunately, past research has suggested that this method is not very reliable. Another option is presented in the figure on page 77. In this case the recruiters add their ratings to form a final evaluation. This approach is relatively simple and often yields final recommendations quite similar to more complex methods. Furthermore, individual KSA’s can be weighted differently. In this case, each KSA evaluation score could be multiplied by its weight. All scores would be summed to obtain an overall score For example, assume that the first four KSA’s in the figure were assigned weights of .2 and the last three KSA’s weights of .1. A candidate might be given a rating of 5 on the first two KSA’s and ratings of 4 on the other KSA’s. The candidate’s overall evaluation score would equal 4.8 (5 x .2 + 5 x 2+ 4 x .2 + 4 x 2 + 4 x .1+ 4 x .1+ 4 x .1). Either of the last two approaches is recommended. The authors would like to thank Paul Osting (Vice-Chairman, Human Resources, Ernst & Young, New York, NY), J. Breck Boynton (Director of Human Resources, Elliot, Davis, & Company, Greensville, SC) and Patricia G. Roth (Clemson University) for their comments and suggestions.

Why Do You Think Chemistry Is So Hard

Chemistry has a reputation as a hard class  and difficult science to master. Heres a look at what makes chemistry so hard. Chemistry Uses Math You have to be comfortable with math up through algebra to understand and work chemistry problems. Geometry comes in handy, plus youll want calculus is you take your study of chemistry far enough. Part of the reason many people find chemistry so daunting is because they are learning (or re-learning) math at the same time they are learning chemistry concepts. If you get stuck on unit conversions, for example, its easy to get behind. Chemistry Isnt Just in the Classroom One common complaint about chemistry is that it counts for the same credit hours as any other class, but requires a lot more from you both in class and outside it. Youve got a full lecture schedule, plus a lab, problems, and a lab write-up to do outside of class, and maybe a pre-lab or study session to attend. Thats a big time commitment. While that may not make chemistry more difficult, it leads to burn-out a lot earlier than with some studies. Youve got less free time to wrap your head around the material on your own terms. Its Own Language You cant understand chemistry until you understand the vocabulary. There are 118 elements to learn, a lot of new words, and the entire system of writing chemical equations, which is its own special language. There is more to chemistry than learning the concepts. You have to learn how to interpret and communicate the way chemistry is described. Its Hard Because of the Scale Chemistry is a vast discipline. You dont just learn basics and build on them, but switch gears into new territory fairly often. Some concepts you learn and build on, but there is always something new to throw into the mix. Simply put, there is a lot to learn and only a limited time to get it into your brain. Some memorization is required, but mostly you need to think. If youre not used to working through how something works, flexing your mind can take effort. Its Hard Because You Think Its Hard Another reason chemistry is hard is that youve been told its hard. If you think something is difficult, youre setting yourself up to fulfill that expectation. The solution to this is to truly believe you can learn chemistry. Achieve this by breaking up study time into manageable sessions, dont fall behind, and take notes during lectures, lab, and during your reading. Dont psych yourself out and dont give up as soon as the going gets tough. Easy Isnt Always  Better Even though it is challenging, chemistry is worthwhile, useful, and possible to master. What other science explains so much of the everyday world around you?   You may need to learn new study skills and change the way you organize your time, but anyone with the will to learn chemistry can do so. As you succeed, youll gain a deep sense of accomplishment.

Effects Of The Atomic Bomb On Hiroshima Japan - 1038 Words

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But is he worthy of this hatred, with his contributions to desegregation of the military and the strengthening of the economy(Hamby)? I t seems as if even though what he did was necessary for the situation that was at hand, he still is seen as an evil man by some who dislike the dropping of the bomb. Comparatively to other wartime presidents, Truman took the path of what needed to be done, and is seen worse than others, such as George W Bush who went to war under the guise of W.M.Ds which were never found, or Wilson who sent the U.S into the great war, afterShow MoreRelatedA Closer Look at the Bombings in Hiroshima and Nagasaki1485 Words   |  6 Pageshistory was changed. Two atomic bombs were dropped on the Japanese cities of Hiroshima, and three days later, August 9, 1945, on Nagasaki that ended World War II. Japan had already been a defeated nation from conventional bombs and World War II. 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This bomb was given the nickname â€Å"Little Boy.† Three days after the first atomic bomb was dropped, on August 9th, 1945 at around 11:02 a.m., the United States dropped a second atomic bomb on Nagasaki. This bomb was given the nickname â€Å"Fat Man.† These two bombs immensely destroyed these cities and took the lives of many peopleRead MoreThe Bombing Of Hiroshima1096 Words   |  5 Pages1945 in Hiroshima, Japan did not begin in any exceptional way; in fact the people had no idea that they were about to be part of one of the most significant mornings in all of history. At 8:15 am, the United States Army Air Forces dropped the first atomic bomb, ironically called, when one considers the enormity of the bombs significance, the Little Boy Three days later the U.S. dropped a second bomb nicknamed the Fat Man on the town of Nagasaki, Japan. Historically, the use of the atomic bombsRead MoreHiroshima And Nagasaki Bombing Of Hiroshima1206 Words   |  5 PagesWorld War Two Hiroshima and Nagasaki Bombing The Bombing In 1945, the US dropped 2 atomic bombs on the cities Hiroshima and Nagasaki in Japan, causing hundreds of thousands civilian deaths. Some people say that this act helped to end the world war and save more lives, but others think that it was not needed and wasn t the cause of the Japanese surrender. Sequence of Events 5th August 1945 President gives approval to use bombs 6th August 1945 Bombing of Hiroshima 9th August 1945 Bombing of NagasakiRead MoreThe Atomic Bombs in Japan1373 Words   |  6 PagesOn August 6th, 1945, the United States dropped an atomic bomb on the Japanese city of Hiroshima without any precedent. The explosion viciously destroyed four square miles of the city and killed 90,000 and injured 40,000. 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Breast Cancer The Most Common Form Of Cancer - 937 Words

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Views of Enineering Students Towards Te 2013 Election Free Essays

Chapter 1 Introduction This chapter deals with the background of the study, statement of the problem, hypothesis of the study, significance of the study, scope and limitation of the study and definition of terms. Background of the Study The 2013 election to the Senate of the Philippine, where we will elect on the 12 of the 24 seats in the senate, will be held on May 13, 2013. Senators elected in this election will serve up to 2019, a total of 6 years in service to the nation. We will write a custom essay sample on Views of Enineering Students Towards Te 2013 Election or any similar topic only for you Order Now Of all the Filipino voters, the youth constitutes 60 percent, of which legal voters of the first year students of USeP will take part. Most voters of the freshmen of the University of Southeastern Philippines are first time voters and of no experience to a national election. And to vote, we do it wisely by taking necessary measures into knowing the righteous candidate through learning what she has done and will be able to do for the nation. We must know, understand and analyze the steps the first time voters do to be able to choose the right candidates for the 12 seats in the congress. Deciphering how the first time voters view the 2013 senatorial elections is critical to understanding how they would vote and nevertheless who they would probably vote. Statement of the Problem How do registered voters of freshmen of the engineering department of the University of Southeastern Philippines take the 2013 senatorial elections? What steps are taken by the registered voters of the first year engineering students of the University of Southeastern Philippines towards the choosing the best candidate for the 2013 senatorial election. Significance of the Study Most voters of the freshmen of the University of Southeastern Philippines are first time voters and of no experience to a national election. And to vote, we must do it wisely and with the right knowledge of what a senator could do to serve our country. We must know, understand and analyze the steps the first time voters do to be able to choose the right candidates for the 12 seats in the senate. Scope and Limitations This study covers how first year engineering students of the University of Southeastern Philippines view the 2013 senatorial elections. Also, this study covers the preparations and the readiness the freshmen of the college of engineering of the University of Southeastern Philippines had done towards choosing the deserving candidate for senator for the 2013 senatorial elections. This study also analyzes the results of the survey in order to understand the statistics of the actions done by the sampled voters of the freshmen of the college of engineering of the University of Southeastern Philippines. This study is limited to knowing and understanding and opinions of the freshmen of the college of engineering of the University of Southeastern Philippines towards the 2013 senatorial elections. This study will not cover the likely senators that the first time voters would vote for. Conceptual Framework This figure presented below shows the frameworks of the study. Review of Related Literature 2013 Election The 2013 Philippine general election on 13 May 2013 will be a midterm election, as the officials elected will assume office on 30 June 2013, or midway into President Benigno Aquino III’s term of office. There will be elected twelve senators, 229 district members of the House of Representatives, 80 provincial governors, 80 provincial vice governors, 766 members of the Sangguniang Panlalawigan (provincial legislature), 138 city mayors, 138 city vice mayors, 1,532 members of the Sangguniang Panlungsod (city council), 1,496 municipal mayors, 1,496 municipal vice mayors, and 11,972 members of the Sangguniang Bayan (municipal council). In the Autonomous Region in Muslim Mindanao (ARMM), there will be elected one regional governor, one regional vice governor, and 24 regional assemblymen. Party-list representatives will also be elected. In total, there will be 18,022 national and local positions decided. Barangay officials, including barangay captains, will not be elected in May. The 2013 Philippine barangay and Sangguniang Kabataan elections are scheduled to be held in October 2013. Preparation to the 2013 Senatorial Election Major preparations made by the Comelec included â€Å"exercising the option to purchase the Precinct Count Optical Scan (PCOS) machines, cleansing the party-list system of representation, annulling the book of voters as well as the subsequent holding of a general registration of voters in the Autonomous Region in Muslim Mindanao (ARMM),† Brillantes said. The Comelec also conducted registration of voters, mock elections, configuration and printing of ballots. Comelec is all set to get the job done armed with competency, transparency and unsullied integrity, Brillantes said. He also cited the start of the Comelec gun ban that coincided with the opening of the election period last January 13. â€Å"I am confident that the Comelec, with the usual support and trust coming from various sectors of the society especially from the general public, will bring about another historic and successful elections,† Chapter 2 Methodology This chapter deals with research design, the respondents, research corpora and research data gathering procedure. Research Design We have used Qualitative design for this research for our goals is to gain insight, explore the depth and gather specific date thought a systematic subjective approach to the views of the freshmen engineering student of the University of Southeastern Philippines to senatorial election this May 13, 2013. Respondents We were able to survey 30 students in College of Engineering, USeP, Davao City. We asked them what are their opinions and what kind of candidate would they vote for. Some of our Respondents opinions Margarito Benavente – Electrical Engineering student at the University of Southeastern Philippines I will vote for the candidate who cares for the country and not who cares for their pockets. For the government to change you need a new set of leaders with integrity and honest. James Vincent de Cadiz †¢ Mechanical Engineering student at the University of Southeastern Philippines Well for me, i’ll vote someone who is true in what she does. I’ll vote for Loren Legarda Research Corpora To gather information, the researchers asked Freshmen students in College of Engineering of University of Southeastern Philippines. Research Data Gathering Procedure These are the procedures in gathering data made by researchers: procedures in gathering data made by researchers: Finding the possible Respondents The Researchers first surveyed to find out who will b e the first time voters among the first year engineering students. Asking the Respondents The researchers asked the respondents to conduct a survey . Collecting the Data from the Respondents The researchers asked a set of questions to the respondents. Analyzing the Data Gathered The researchers analyzed the data gathered. Chapter 4 Presentation, Analysis and Interpretation of Data Results MaleFemale Eligible to Vote1119 Registered Voter918 Prepared to Vote917 Total number Surveyed1119 Interpretation of Data In this study, we have surveyed 30 students in the first year college of engineering of the University of Southeaster Philippines. From the 94 students a total of 36 students were eligible to vote, 28 students were registered to vote for the 2013 Senatorial Election, 22 were prepared and knowledgeable of whom they would vote. Among the areas surveyed the female contributed to a larger percentage. Chapter 5 Summary, Conclusions and Recommendations Summary of Findings From the randomly surveyed population of the first year college of engineering of the University of Southeastern Philippines, 96% of the total registered voters have been taking the necessary preparations towards identifying deserving candidates to be voted during the 2013 election. Methods of their preparation included watching regular news about congress and seeking additional information of the candidates by using the internet. Conclusion The study concludes that the registered voters of the first year college of engineering of the University of Southeastern Philippines are ready to vote in the 2013 Senatorial Elections. Recommendations We recommend the significant number of students in the first year college of the University of Southeastern Philippines to register for 2013 Senatorial Elections to express every right of the Filipino. How to cite Views of Enineering Students Towards Te 2013 Election, Essay examples

Policy Implementation and Market Structures

Queston: Discuss about the Policy Implementation and Market Structures. Answer: Introduction The government has a primary role of ensuring that the economy is operating well and that it is free from externalities. Externalities (especially the negative ones) are actions that are done by a party but ends up impacting another party whether knowingly or unknowingly. Consumption of alcohol always gets out of control particularly when the prices for alcohol are too low. The consumption for alcoholic products obeys the law of demand since its level changes with price variations. When prices are low, consumers buy more but buy less when prices are high. The price elasticity of demand (PED) helps in showing the expected changes in demand when price is varied by a unit (Sivagnanam Srinivasan, 2010). Many economists have argued that the demand for alcoholic products falls under an inelastic demand such that a unit price change may have less influence on the quantity demanded. This paper will try to prove whether this assertion is true. If it will be confirmed to be true, the paper wi ll guide the government policy makers in determining the appropriate action to take so as to lower the consumption of alcohol. Alcohol is both harmful to oneself and to the whole community. Some people are so addicted in its consumption such that they cant go a day without it. This people end up neglecting their primary responsibilities such as caring for the family and their productivity at their job places goes down. This is detrimental to the economic growth and thus the rationale for its price control by the government. The paper will also help in understanding the market structures. It will provide the characteristics of different market structure that mainly affect the markets operations. It will also explain why it is difficult for a company to survive in such a market whereas another company may not be able to compete in a similar market. Investors will therefore be able to determine the most profitable market structures to venture into. The figure on demand model for Euromonitor Internationals Industry shows the various elasticities of demand for alcohol products. The model is specifically one sided model (negative side) meaning that alcoholic goods are normal goods and their demand are inversely related to the selling price such that a price rise results in a demand decline and a price fall results in a demand rise. In the model, it can be observed that different alcoholic products differ in their elasticity of demand. I.e. whereas its too high for high strength premixes, it is too low for the blended scotch whiskey. Suppliers of alcoholic products are mostly interested in such products such as the blended scotch whiskey with a low PED. This is because it enables them to influence the price without much influence on the quantity demanded. This paper will not consider the individual PED since there is an assumption that consumers would shift from one product to another when the price for one increases and the other remain unchanged. We shall therefore use the overall PED for alcoholic product determined in the model to be 0.45 (inelastic demand). When the government employs the policy of tax raise on alcoholic products, it creates an additional burden to the tax payers. However, since this tax is an indirect tax, its the consumers of alcoholic products alone who feels the squeeze (Sadowsky, 2010). The squeeze could be felt by the suppliers if they are unable to raise the consumer prices. PED is used in defining the party that suffers the extra tax burden. The equilibrium point before the tax increment is at point c (Po, Qo). The slope of the demand curve is steeply inclined as a sign that it is inelastic. The tax causes the prices to be raised from Po to P1 and consequently the quantity demanded declines from Qo to Q1. Before tax, the consumer surplus was area fcx and the producer surplus was area fcy. The change in demand is too small compared to the price increment. Therefore consumers suffer a greater tax burden. The tax burden is area abde where abgf is the burden on consumers and fgde is the burden on producers. Due to this tax imposition, the new producers surplus is edy which is lower than the initial fcy, and the new consumers surplus is abx which is lower than the initial fcx. A deadweight loss results and is equivalent to area bcd. The greatest tax burden is therefore concluded to be carried by the consumers when the demand is inelastic. The equilibrium point before the tax increment is at point c (Po, Qo). The slope of the demand curve is not steeply inclined as a sign that it is elastic. The tax causes the prices to be raised from Po to P1 and consequently the quantity demanded declines from Qo to Q1. Before tax, the consumer surplus was area fcx and the producer surplus was area fcy. The change in demand is too big compared to the small price increment. Therefore producers suffer a greater tax burden. The tax burden is area abde where abgf is the burden on consumers and fgde is the burden on producers. Due to this tax imposition, the new producers surplus is edy which is lower than the initial fcy, and the new consumers surplus is abx which is lower than the initial fcx. A deadweight loss results and is equivalent to area bcd. The greatest tax burden is therefore concluded to be carried by the producers when the demand is elastic. The equilibrium point initially is at point e (PoQo). The main goal of a minimum pricing strategy is to discourage demand, thus, this price P1 is set above the normal selling price. According to Woodhouse (2017) no seller is allowed to sell below the fixed price. At price P1 above the normal selling price, demand is discourage and falls to Q1. Consumers willingness to pay is minimized by the high price. However, the willingness of suppliers to supply more increases at the high price; their new supply level is Q2. Therefore an excess supply creates an oversupply in the market. Minimum price on alcohol therefore prevents the market from clearing. Both are mean to influence the consumption level so as to achieve health improvements and reduction of negative externalities. From the analysis on part (i) and part (ii) above, it can be concluded that imposing an exercise tax is more beneficial and effective than fixing a minimum price on alcoholic products. This is because, with an excise tax, the government not only discourages consumption of alcohol, it also raise its revenues. In the case for minimum price, the government only influences the consumption level but no revenues is raised. An excise tax could be beneficial to either the supplier or the consumers depending on their elasticity to demand. In case for the minimum pricing, there is only one party that benefits (the suppliers). There is no way through which a consumer can benefit from minimum price set on alcohol. Comparing the effectiveness of the two policy strategies, an excise tax is more effective as its a must it be adhered to, but for a minimum price the supplier may practice illegal selling practices. The government should therefore at all times consider imposing an excise tax and completely avoid minimum pricing. Table price in the long run will be above $ 200 because in the long run, the AC curve does not intersect with the AR (demand curve). They only meet at a tangency point. In the long run, only normal profits are made in a monopolistic competition. The AC curve generally is U-shaped and the demand curve is sloping negatively. Therefore, unless the demand curve was horizontal, it can never be tangent with the minimum point of the LRAC curve. Since demand curve will never be horizontal, the tangent point for the demand curve and the LRAC will never be at the minimum point. The diagram above shows the tangency point price and the minimum LRAC (where LRMC and LRAC intersect). There are many players in the market, but only a few large players dominating the market. In Australia, four firms from most industries control over 60 % of the market share (Kollmorgen, 2016). There are cost and competition barriers to entry. I.e. startup costs, and competition since the large players may fix their prices too lower to force the non-well established firms to exit the market. Price makers The large players may collude to form cartels to gain market power The products are either identical or differentiated. The decision of one player affect that of others. The industries in Australia that fall under oligopoly include; According to Andrew (2014), the supermarket industry is an oligopoly since there are few major players dominating the market (Coles and Woolworths). According to Adiktd (2014), the banking industry in Australia is an oligopoly since it is dominated by 4 big banks (National Australia Bank (NAB), Westpac (WBC), Australia and New Zealand Banking Group (ANZ) and Commonwealth Bank (CBA). He also quoted that of all the other markets, this industry has the highest entry barriers. According to Smith (2015), the telecommunication industry in Australia is an oligopoly since Telstra, Vodafone Australia and Telecommunications-owned Optus dominate the market. Characteristic of monopolistic competition Numerous participants. Dwivedi (2006) noted that estimating the number of these sellers is difficult, but depending on the size of the market they may be 10 20. Perfect information Heterogeneous products. According to Baumol Blinder (2009), the products are similar but slightly differentiated. Freedom of entry and exit Examples of monopolistic completion industries in Australia The hairdressing industry according to Anders (2011) is a monopolistic competition industry since the sellers products and skills are slightly differentiated. The smartphone industry according to Joshi (2016) is a monopolistic competition industry since they offer a wide range of smartphones that are differentiated. The bakery industry according to Narula (2017) is a monopolistic competition industry since the bakers are many and different prices can be charged depending on competition in a given area. Duopoly competition occurs when there are only two firms dominating the market and are able to satisfy demand. The two firms must be able to produce at the lowest cost. There must be huge economies of scale so that other firms are unable to join the market. The price charged is equal to the minimum point of ATC and thus greater economies of scale. Other markets cannot survive in this market. So entrance is hindered by the economies of scale. References Adiktd. (2014). Oligopoly in the Australian Banking Sector. The-efficient-frontier.blogspot.co.ke. Retrieved 14 April 2017, from https:.//the-efficient-frontier.blogspot.co.ke/2014/01/oligopoly-in-australian-banking-sector.html. Anders, J. (2011). What are the best examples of monopolistic competition in the real world? Quora.com. Retrieved 14 April 2017, from https://www.quora.com/What-are-the-best-examples-of-monopolistic-competition-in-the-real-world. Andrew. (2014). Australian Oligopolies. Blog.adonline.id.au. Retrieved 14 April 2017, from https://blog.adonline.id.au/oligopolies/. Asveshion.com. (2012). Soal dan Jawaban Asistensi PE1 Price discrimination, monopolistik, oligopoli. Ventyventy.blogspot.co.ke. Retrieved 15 April 2017, from https://ventyventy.blogspot.co.ke/2012/12/soal-dan-jawaban-asistensi-pe1-price.html. Baumol, W., Blinder, A. (2009). Economics (11th Ed.). Mason, OH: South-Western/Cengage Learning. Dwivedi, D. (2006). Microeconomics. New Delhi: Pearson Education. Joshi, M. (2016). What are the best examples of monopolistic competition in the real world? Quora.com. Retrieved 15 April 2017, from https://www.quora.com/What-are-the-best-examples-of-monopolistic-competition-in-the-real-world. Kollmorgen, A. (2016). Market monopolies in Australia. Choice.com.au. Retrieved 15 April 2017, from https://www.choice.com.au/shopping/everyday-shopping/supermarkets/articles/market-concentration. Narula, L. (2017). What are the best examples of monopolistic competition in the real world? Quora.com. Retrieved 15 April 2017, from https://www.quora.com/What-are-the-best-examples-of-monopolistic-competition-in-the-real-world. Purpura, K. (2011). Monopolistic Competition: How to Graph it. YouTube. Retrieved 14 April 2017, from https://www.youtube.com/watch?v=jwXdH-Vc2HM. Sadowsky, J. (2010). The Economics of Sin Taxes. Acton.org. Retrieved 14 April 2017, from https://acton.org/pub/religion-liberty/volume-4-number-2/economics-sin-taxes. Sivagnanam, J. Srinivasan, R. (2010). Business economics. New Delhi: Tata McGraw Hill. Smith, M. (2015). The death of the oligopoly: Australia's incumbents face new rivals. Financial Review. Retrieved 13 April 2017, from https://www.afr.com/brand/chanticleer/the-death-of-the-oligopoly-australias-incumbents-face-new-rivals-20150421-1mq11b. Surbhi, S. (2016). Difference between Monopoly and Monopolistic Competition. https://keydifferences.com. Retrieved 14 April 2017, from https://keydifferences.com/difference-between-monopoly-and-monopolistic-competition.html. Thapa, R., Solomon, D. Boumphrey, S. (2014). Price Elasticities in Alcoholic Drinks. Euromonitor International Blog. Retrieved 13 April 2017, from https://blog.euromonitor.com/2014/08/price-elasticities-in-alcoholic-drinks.html. Woodhouse, J. (2017). Alcohol: minimum pricing. Researchbriefings.parliament.uk. Retrieved 14 April 2017, from https://researchbriefings.parliament.uk/ResearchBriefing/Summary/SN05021