Thursday, August 27, 2020

Efficiency of Foreign Exchange Market Coursework

Proficiency of Foreign Exchange Market - Coursework Example In productive markets, there are openings neither for the hedgers nor for the examiners to make super-typical benefits (Fama, 1970). In such a circumstance, theoretical proficiency and arbitraging productivity exist. The theoretical proficiency theory is the suggestion that says if there is theoretical effectiveness in the market, the normal pace of come back to due hypothesis in the forward remote trade showcase is zero (Hansen and Hodrick, 1980). The arbitraging productivity speculation is the suggestion that the normal pace of come back to secured or revealed premium exchange in the worldwide capital market is zero. Premium exchange is a type of exchange where assets are removed from home nation to put resources into an outside country’s enthusiasm bearing protections. This procedure attempts to have benefit from the effect in loan cost of the two nations. Intrigue exchange is a focal idea to comprehend the remote trade developments. Writing Review For testing the theoretic al effectiveness of any remote trade showcase, numerous academicians consider the theory that the forward cost is the best figure accessible of future spot cost. For the trial of arbitraging effectiveness, a few creators test secured intrigue equality (CIP), for example the equality between the forward markdown from the normal spot and the intrigue differential between a couple of monetary forms. Since exchanges expenses and hazard premium are there in the value, presently it has become a broadly known certainty that, dismissing the CIP test doesn’t fundamentally infer that the market is arbitraging wasteful. With regards to a basic forward market model it tends to be demonstrated that arbitraging effectiveness can exist regardless of whether CIP doesn't hold and exchanges expenses and hazard premium are missing (Stein, 1965). In actuality, costs incorporate exchange expenses and there is a nearness of hazard premium for the hazard taken by taking situation on that specific r esource. Since exchanges expenses and hazard premium exist practically speaking (Bilson, 1981); a takeoff from CIP doesn't really infer arbitraging wastefulness. With exchanges expenses and hazard premium, it tends to be demonstrated that the invalid speculation for testing CIP varies from that for testing arbitraging productivity. Visit disappointments of the trial of market productivity as the forward markdown goes astray from either the premium differential or anticipated devaluation; have driven analysts to hypothesize the presence of a hazard premium. There have been likewise a ton of instances of enormous contrast of normal holding returns across resource classes. In addition the hazard premium has been time subordinate (Grauer et al, 1976). Scientists have frequently tried for a hazard premium as a component of the fluctuation of figure blunders or of the conversion scale developments (Domowitz and Hakkio, 1985). A standard activity for analysts while testing for theoretical effectiveness is that they underestimate that examiners are hazard nonpartisan. Exact examinations for an enormous assortment of monetary standards and timeframes and for the ongoing skimming experience will in general report results which are horrible to the productive market theory under hazard impartiality (Longworth, 1981; Fama, 1984). For the period 1973 to 1979, Hansen and Hodrick (1980), utilizing week after week information and three-month forward rates and completing tests including the monetary forms of seven nations which are Canada, France, Italy,

Saturday, August 22, 2020

Zakat Management in Nigeria the Status Quo free essay sample

Considering the situation of Nigeria as the sixth Muslim lion's share nation of the world and the occurrence of neediness in the nation, presence of a successful zakat the board is basic. The measure of open store that goes into the new zakat foundations additionally legitimizes study that gives important perceivability about their exercises. Likewise, this paper reports the discoveries from the exploratory period of a huge scope look into on zakat the executives covering the government capital domain and 15states of Nigeria. To accomplish the significant point of depicting the methods of zakat the executives in the nation, the philosophy depends on field meet, composed reports and web assets. From the examination, it is obvious that an across the country zakat foundation may not be reasonable for Nigeria, an administrative body will be essential for consistency in activity, Fatwa advisory group ought to be comprised to address specialized issues and government ought to consider allowing of assessment alleviation to zakat payers. We will compose a custom paper test on Zakat Management in Nigeria: the Status Quo or on the other hand any comparable theme explicitly for you Don't WasteYour Time Recruit WRITER Just 13.90/page Given the degree and goal of the ebb and flow study, it ought to comprise a noteworthy commitment to zakat the executives writing and furthermore fill in as manual for future specialists Keywords: Zakat the board, Fatwa Committee, Tax Relief, Exploratory Phase INTRODUCTION It has for quite some time been recognized that Zakat organizations over the globe can profit hugely if data on zakat the executives among Muslim nations can be adequately shared. There has been expanded inclusion of government and non-administrative offices in the foundation of zakat establishments across Muslim and non-Muslim nations. Nations with standardized zakat the executives organs incorporate Saudi Arabia ,Pakistan, Libya, Sudan, Bangladesh, Kuwait, Indonesia, Jordan, Bahrain, Yemen, Malaysia, Brunei, Qatar, south Africa, Canada, and Nigeria . Regardless of the expanding endeavors towards formal zakat foundations in separate nations, there is constrained investigation on the exercises of these establishments. Early investigations on zakat the executives in chose nations incorporates (al-Khui, 1986; Azharuddin, 1988; Imtiazi, 1989; Abdullah, 1991;Mustapha, 1995; Faridi, 1995; Al-Ajeed, 1995; Balogun, 1999; Kafh, 2000 ). Azharuddin, (1988) considered the job of Zakat in present day economy, utilizing Bangladesh as an instance of study while Al-Khui (1986) surveyed Libyan Act No 89 of 1971 which identified with zakat the executives in that nation. Mustapha (1987) and Ghazali (1991) talked about organization of zakat in Malaysia while al-Ajeel (1995) and Mohammed (1995) separately examined tasks of zakat in both Kuwait and Sudan. Kafh (2000) contemplated zakat the executives in Pakistan, Kuwait, Jordan and Egypt while Balogun (1999) assessed zakat assortment and dissemination in Nigeria. In contrast to different investigations, the examination by Balogun (1999) on zakat assortment and conveyance in Nigeria was led before the restoration of formal zakat establishment in 1999. Subsequently, it didn't cover the activity of the recently settled foundations. Formal zakat the board in Nigeria initiated with the presentation of Islamic legitimate framework in Zamfara State. Different states in the northern piece of Nigeria grasped this activity while various nongovernmental associations additionally set out on assortment and dissemination of zakat in the southwestern piece of the nation. Zakat the board involvement with Nigeria has gone on for longer than 10 years yet the frequency of destitution is on the expansion in spite of the generous measure of expense payers’ cash is utilized to support the activity of these establishments. Past examinations on zakat the executives are either before the re-presentation of formal zakat establishments or are constrained to a solitary foundation (Kamaluddin, 1991; Abubakar, 1997; Balogun, 1999; Yusuf, 2002; Aliyu, 2002; Maidugu,2003), in this manner, they are unequipped for giving worldwide perspective on zakat the board in Nigeria. The present examination that portrays the activity of zakat nstitutions the nation over ought not just give more extravagant understanding into zakat the executives rehearses in Nigeria yet in addition add to existing assemblage of information on zakat the board. Earlier STUDIES ON ZAKAT MANAGEMENT IN NIGERIA Since it was deliberately baffled by the white men, the re-presentation of formal zak at establishment in Nigeria initiated in 1982 after the national gathering on zakat held at Bayero University Kano yet legitimate zakat assortment didn't begin until 1987. Research enthusiasm for zakat the executives, be that as it may, started after just about 10 years following the foundation of Kano State Islamic Council for zakat. Early scientists regarding this matter were basically from Economics (Kamaluddin, 1991; Balogun,1999; Wakawa, 1999) be that as it may, lately, there is expanding enthusiasm by specialists from bookkeeping and the executives (Dogarawa, 2008; Dandago, 2010). The writing can be arranged into reasonable (Dandago, 2010; Gidado, 2003; Maidugu, 2002; Dogarawa, 2008; Gusau, 2003) and observational (Abubakar, 1997; Kamaluddin, 1991; Yusuf, 2002; Aliyu, 2002; Maidugu, 2003). Maidugu (2002) recognizes different reasons for destitution in Nigeria and talks about the capability of zakat as a successful system to mitigate it. He proposes a plan adjusted from Anwar (1995) which he called zakat speculation subsidize (ZIF). Further, he noticed that, in spite of the fact that ZIF is equipped for lifting poor Muslims to higher monetary levels, its adequacy might be influenced by certain difficulties. Among applied investigations, Gusau (2003) talks about zakat as one of the Islamic answers for destitution destruction in Nigeria. In a similar gathering, Gidado (2003) broadly clarifies the noteworthiness of zakat and waqf as Islamic establishments. He further explains on the two foundations under Islamic monetary framework. In his investigation on plausibility of accomplishing evenhanded riches dispersion through the organization of zakat, Dogarawa (2008), stresses the extraordinary right which Islam gives on poor people. As per him, it is the privilege on the abundance of the rich that recognizes zakat from some other types of help given to poor people. He nonetheless, alerts that zakat alone will most likely be unable to take care of all the financial issues inside Islamic social framework. He is hopeful that ,if Muslims can oversee zakat foundations appropriately, the job of zakat will be progressively obvious and its impact sick be better felt. Dandago (2010) fixates his work on how expresses that recently received Islamic arrangement of government can exploit different financial strategy quantifies that may help the states in income age just as controlling expense of administration and guaranteeing judicious consumption the executives. While underlining the requirement for equity to guarantee the a chievement of any zakat the executives, Dandago (2010) cautions against any untoward go about as the zakat payers have the privilege not to pay their because of an unfair government. He, be that as it may, raises scarcely any questionable issues with respect to the utilization of zakat support. As he would like to think, the legislature may utilize the assignment to classification â€Å"in the reason for Allah† to back open merchandise like training, legal executive, resistance, lodging, and so forth ). Dandago’s position on utilization of zakat subsidize isn't viewed as all around settled upon (de Zayas, 2008) and may make doubt among payers who are against this view and living inside the equivalent land limit. In his commitment to the theoretical examinations, Dabo (2004) centers around the structure for lawful support of zakat installment under the show legitimate framework in a multi-strict nation while Dabo (2006) gives an inside and out investigation of the distributive Justice in Islamic Law as an instrument for destitution lightening being a piece of utilization of the system. Then again, inside restricted experimental examinations, Kamaluddin (1991), takes a gander at the adjustments in resources whereupon zakat is payable. As indicated by him, various new resources have risen and those that were accessible at the beginning period of Islam have experienced genuine change. He takes note of that the progressions have made requirement for new techniques for evaluation of these benefits. His examination is coordinated towards this hole practically speaking and information. He proposes new bookkeeping estimates that will encourage consistence with the Shariah arrangements on zakat. A significant finding in the investigation of Kamaluddin (1991) is the ID of the nonattendance of methodical way to deal with zakat tax assessment among Nigerian organizations. The significant restriction of this examination is the attention on just Limited Liability Companies consequently making cross correlation of discoveries troublesome if certainly feasible. Thinking about the examination constraint and the extent of the discoveries, Kamaluddin (1991), suggests that future research should address zakat bookkeeping hypothesis and practice for different types of business substances, explicit bookkeeping and evaluating duties of zakat organizations in their administrative job over corporate elements, extension of zakatable advantages for incorporate expenses and compensations, lastly the current legitimate condition of corporate endeavors so as to recognize territories of corrections to take into consideration compelling execution of zakat bookkeeping. Abubakar (1997), gives subtleties of the structure of association of Kano Islamic Council. As indicated by him, the gathering was overseen by boards of trustees, open edification and managerial. He watches the deficiency of fit hands for treatment of issues of the gathering consistently. Among others, he distinguishes a wide hole between the interest for zakat help and accessible reserve to meet them. Aliyu (2002), additionally study Kano state Islamic chamber for zakat. Not at all like Abubakar (1997), he examines the exhibition of the gathering. On the activity of the board, he finds that the chamber sticks to Shariah in its conveyance. He , notwithstanding, finds that, zakat assortment by the chamber isn't just low yet it design is additionally precarious.

Friday, August 21, 2020

Service Academy Essay Samples - The Benefits of Using Them

Service Academy Essay Samples - The Benefits of Using ThemService Academy Essay samples are designed to help you write a professional essay. These are actually written essays that have been chosen by some students as their example of the best ways to write essays. They do a great job at explaining how students can improve their essay writing skills and give you sample essay topics to use throughout your college writing classes.There are many aspects of essay writing that many new college students do not fully understand. When it comes to the service academy essay examples, this is clearly the case. However, they provide some very helpful tips for writing essay examples, including what the purpose of the essay is, how to structure the essay, and what to avoid. These samples will make your writing life much easier!If you are one of the many new college students who find it difficult to express yourself and write concisely, these samples are a great resource. What makes them different f rom other writing assignments is that they are specifically designed to help students develop their writing skills. This means that you can write essays that are both entertaining and informative. Students can write about themselves, their schools, or other topics as well. This makes it possible for them to really get into the main subject matter of the essay and make sure that all the necessary information is included.A good way to write a decent essay is to use examples that will easily show what your essay is all about. These examples are not just ideas and thoughts; they are actual examples that can be used in your own work. The service academy essay samples gives students the ability to use actual examples, which can be used to establish their credibility as writers.The service academy essay examples are based on both academic and business concepts, so you are able to use them in various situations. For example, if you are writing a business plan for your own business, then the service academy essay examples would be a great way to show your expertise in this field. Students will also be able to better describe their knowledge of a certain topic or industry, and this can greatly benefit them when they are submitting their proposals.When using the service academy essay examples as examples in your own writing, keep in mind that you should never copy someone else's idea word for word. In fact, this is an extremely bad idea. By plagiarizing, you could ruin your chances of getting accepted into a college, as well as your grades and future career opportunities. If you choose to use an example from this program, make sure that you are careful not to blatantly steal its name.The specific examples are not only examples, but also teaching tools. You should be prepared to make connections between your personal experiences and the topic you are writing about. The service academy essay samples give students a great way to think about their writing without having to b e bogged down with writing tips. For this reason, students enjoy being able to do this type of homework on their own time.The service academy essay samples will make your writing life much easier. This is because it teaches you how to make a great first impression on a college admissions committee by allowing you to use examples from real world situations that people are currently facing. This is a great tool that can help you get through college easily and on time, without having to worry about any unnecessary problems or going over your head.

Tuesday, May 26, 2020

The Flea, By Andrew Marvell - 996 Words

John Donne s, The Flea, and Andrew Marvell’s To His Coy Mistress are persuasive poem in which the speaker is attempting to establish a sexual union with his significant other. These poems is spoken by a male lover to his female beloved as an attempt to convince her to sleep with him. John Donne and Marvell brings out and shapes this meaning through his collective use of conceit, rhythm, and rhyme scheme. The basic theme of the poems is the speaker’s need to turn his â€Å"coy mistress† into a â€Å"willing mistress†. Donne uses the flea as a conceit, to represent a sexual union with his significant other. Marvell using his way with words to convince his lover to a sexual union. In the first stanza in The Flea, a flea bites the speaker and woman. He responds to this incident by saying, And in this flea our bloods mingled be. (line 4). He is suggesting that they are united in this flea and would equally be united in intimacy. In the first stanza of â€Å"To His Coy Mistress†, the speaker tells his woman that if they had more time and space that her coyness wouldn’t be a crime. He says this, â€Å"Had we but World enough, and Time, This coyness lady were no crime†. (line 1,2) Marvell also would compliment her and admire her. In the â€Å"Flea†, the speaker tries to marry the man and woman while in â€Å"To His Coy Mistress† the man is not trying to marry the Duncan 2 two but trying to get the lady to sleep with him by using time. Donne states, This flea is you and I, and this our marriage bed, andShow MoreRelatedThe s Coy Mistress By Andrew Marvell And The Flea1919 Words   |  8 PagesThe representation of sexual pleasure and intercourse throughout â€Å"To His Coy Mistress† by Andrew Marvell and â€Å"The Flea† by John Donne functions as a way to present, confirm and refute the traditional stereotypical view of carpe diem love poetry. The speakers within both poems aim to â€Å"seize the day† by wooing and taking advantage of women and their virginity and sexuality. They not only want to take advantage of the time they have but also make sure they do not regret not doing anything in the futureRead MoreThe Flea By John Donne And His Coy Mistress By Andrew Marvell1059 Words   |  5 Pageswere poets like John Donne and Andrew Marvell who participated in a type of poetry referred to as metaphysical. Metaphysical poe try essentially is poetry that deals with things that are more philosophical than anything else. This type of poetry also is very emotion based but also has logically aspects. These poets have written several bodies of work that can fall under the metaphysical umbrella. Two examples of metaphysical poems written by these two poets are The Flea and To His Coy Mistress. BeingRead More To his Coy Mistress by Andrew Marvell and The Flea by John Donne1987 Words   |  8 PagesTo his Coy Mistress by Andrew Marvell and The Flea by John Donne Two of the poems in Best Words are seduction poems, rather than love poems. These are To his coy mistress by Andrew Marvell and The Flea by John Donne. Compare these two poems by analysing: -  · Each poets intention  · Form of the poem  · Language used in the poem  · Your reaction to the unromantic poems. ‘Let me not to the marriage of true minders/Admit impediments, love is not love’, is one of many famous love sonnetsRead More The Flea by John Donne and To His Coy Mistress by Andrew Marvell6621 Words   |  27 PagesThe Flea by John Donne and To His Coy Mistress by Andrew Marvell The Flea by John Donne is written in the 17th century as is To his coy mistress by Andrew Marvell. This we can see by the language used which was typical of that period in time apt to kill me and yea which are taken from the flea. Both poems also speak of virginity being very important, especially before marriage because if a woman had lost her maidenhead before, the husband would have the right to leave her withoutRead MoreComparing The Flea By John Donne And To His Coy Mistress955 Words   |  4 PagesLove Me, Love Me Not The two poetics from whom have created pieces of literature in the past such as â€Å"The Flea† by John Donne and â€Å"To His Coy Mistress† by Andrew Marvell, whom were highly educated poets in the 17th century, in which their writing styles were pieces of unique abstract, theoretical forms, and one particular famous style called metaphysical conceit to which â€Å"John is known as the founder of the   HYPERLINK https://www.poets.org/poetsorg/text/brief-guide-metaphysical-poets MetaphysicalRead MoreMetaphysical Poems792 Words   |  4 PagesMetaphysical Poets John Donne and Andrew Marvell were considered metaphysical poets based on their use of conceit and wit in depicting similar situations through different metaphors. They would use original analogies to create fitting and insightful comparisons, usually to persuade. John Donne and Andrew Marvell have been called metaphysical poets. This is a,† name given to a group of English lyric poets of the 17th century† (Metaphysical poets)† The term metaphysical poets came to be used almostRead More The Poetry of Andrew Marvell and John Donne Essay951 Words   |  4 PagesThe Poetry of Andrew Marvell and John Donne The seventeenth century was an era of beautiful poetry. Two poets in particular, Andrew Marvell and John Donne, wrote carpe diem poetry full of vivid imagery and metaphysical conceits. Each conveyed the message of living for the now. This message can be clearly seen in the poems To his Coy Mistress by Marvell and Donne’s Flea. By using clever metaphors and meter, the poems not only are symbolic, but have almost a physical aspect to them. ThoughRead More Comparing Andrew Marvells To His Coy Mistress and John Donnes Flea765 Words   |  4 PagesAndrew Marvell’s To His Coy Mistress and John Donne’s Flea Andrew Marvell and John Donne both wrote â€Å"carpe diem† poetry full of vivid imagery and metaphysical conceits. This message can be clearly seen in the poems To His Coy Mistress by Marvell and Donne’s Flea. Though both poems take a similar approach to the topic addressed, it is Marvell that writes more thoughtfully and carefully, coercing instead of Donne’s seemed demanding\begging. The speaker in â€Å"Coy Mistress† is trying to convinceRead MoreCritical Commentary on to His Coy Mistress1563 Words   |  7 PagesCritical Commentary Andrew Marvell’s ‘To His Coy Mistress’ embodies the male craving for intercourse, as in the poem the narrator tries to convince a woman to have sex with him. The poem is abounded with metaphysical conceits and really depicts the theme of carpe diem. With the exploitation of numerous motifs, compelling imagery and its rhythm, Marvell is able to construct a very influential argument. Initially, Marvell uses the metaphysical conceit to compliment the woman as a means of persuasionRead MoreJohn Donnes quot;the Fleaquot;, a Critical Analysis Essay901 Words   |  4 Pagesinclinations in poetry. The clich#233; love at first sight, is too often idealized to be the epitome of true love; most poets will uphold to the prior statement such as John Donne and Andrew Marvell. In John Donnes The Flea Donne expresses his love for a woman without having touched her. On the other hand, Andrew Marvell in To My Coy Mistress, glorifies and adores the womans beauty; however there is a sense of urgency in his words and an underlying sexual current as well. Nonetheless, both poets

Friday, May 15, 2020

The Decline of the Holy Roman Empire Essay - 3137 Words

The Holy Roman Empire was an empire in central Europe consisting of many territories and ethnicities. Once very powerful, the empire’s authority slowly decreased over centuries and by the Middle Ages the emperor was little more than a figurehead, allowing princes to govern smaller sections of the empire. Though the various ruling princes owed loyalty to the emperor, they were also granted a degree of independence and privileges. The emperor, an elected monarch, needed the allegiance of the princes and other aristocracy to support him, in turn giving them power or money. This tenuous allegiance between powers was greatly strained in the sixteenth and seventeenth centuries as religious reform dominated Europe and religious tensions†¦show more content†¦On October 31, 1517, when monk Martin Luther nailed The 95 Theses to the door of a cathedral in Wittenberg, Germany, he had no idea that he was sparking the Protestant Reformation (Greengrass 44-45). These 95 theses consi sted of Luther’s complaints and disagreements with and regarding the Catholic Church, particularly on the use of indulgences – a â€Å"remission of temporal penalties for sin† sold to individuals seeking salvation (Greengrass 6, 44). The indulgences were claimed to lessen the time an individual’s soul spent in purgatory, commissioned by the Pope of the time, Leo X, and in collaboration with various bishops and archbishops (Linder 22). When Luther nailed his theses to the door, they quickly spread, spurning uproar. First, the theses were sent to Archbishop Albrecht, the superior of an indulgence-selling monk that parishioners of Luther had come into contact with. Then, the document (originally published in Latin) was translated to German and spread throughout the Holy Roman Empire. Luther verbalized many common complaints in his theses and became a sort of hero. The ability of the printing press enabled Luther’s theses to widely circulate as he was thrust into public eye and began the path of Reformation (Linder 23-24). A large part of Luther’s success came from the Reformation propaganda that spread through the printing press. Mostly woodcuts,Show MoreRelatedThe Fall Of The Roman Empire1495 Words   |  6 PagesThe mighty Roman Empire thought by many to be the ultimate stronghold had its days numbered. Many factors led to the fall of the Roman Empire, from inflation to its poor leaders and generals, but it wasn’t just one thing that caused the entire empire to fall it was a series of events that caused this juggernaut of an empire to meet its sad demise. The fall all began in 235 when the Roman throne was able to be taken by any general who had the military power to seize it. This caused many militaryRead MoreSummary of People and Empires844 Words   |  3 PagesSummary of People and Empires. This book is a Short History, of western empires which explain how European civilization and includes chronology of key events are influenced by the empires that was formed in it, like the Roman empire. It starts with Alexander and his Greek army and ends with the EU. Major events between these two events are empires like the Roman Empire, Byzantine Empire, the Catholic Church as an Empire, the Spanish Empire, British Empire, and the European Colonial influenceRead MoreNo Title Now1233 Words   |  5 Pages2.3   Study   Questions    Early   (Dark)   Middle   Ages          Chapter   Fifteen,   Ã¢â‚¬Å"Europe   to   the   Early   1500s:   Revival,   Decline,   and   Renaissance†          The   High   and   Late   Middle   Ages—Chapter   Fifteen    As compared to its experience in the early Middle Ages, Europe in the High Middle Ages was a. more decentralized. c. less militaristic. b. less isolated. d. more religiously diverse. Which is the best summaryRead MoreEssay about The Historical Impacts of the Protestant Reformation946 Words   |  4 Pagesand European expansion have both left political, social and economic impacts throughout history. The Protestant Reformation which was started in the 1500’s, by a Catholic man named Martin Luther caused political instability and fragmented the Holy Roman Empire. It economically caused the church to go bankrupt and socially allowed for the rise of individualism among the people; Luther gave the people of Europe the long needed reason to break free of the church. The Protestant Reformation and the needRead MoreHistory And Advances Of The Christian Church Essay1003 Words   |  5 Pagesto â€Å"who,† â€Å"what,† and â€Å"why† there is a transcendent God. T his composition will focus the historical-social context, ecclesial context, and modifications to the Church that occurred from three critical events; Fall of the Roman Empire, World War II, and the Celebration of the Holy Year by Pope John Paul II. The selected episodes are key in the history of the development of the church and provide insights of the church- politically, socially, and more importantly, religiously. The founding of RomeRead MoreEssay on The Crusades908 Words   |  4 PagesCrusades A major turning point in Medieval history were the Crusades. The Crusades were a series of wars fought between the Christian Europeans and the Muslim Turks, which occurred between the years of 1096 to 1272. In this Holy War the Christians goal was to obtain the Holy Land from the Turks, in which they did not succeed. Although the Christians did not meet their goal, many positives did come out of their attempt. Due to the reason that they did not meet their goal, yet numerous positives cameRead MoreRoman Empire1559 Words   |  7 PagesGreek and Roman financiers: from the 4th century BC Banking activities in Greece are more varied and sophisticated than in any previous society. Private entrepreneurs, as well as temples and public bodies, now undertake financial transactions. They take deposits, make loans, change money from one currency to another and test coins for weight and purity. They even engage in book transactions. Moneylenders can be found who will accept payment in one Greek city and arrange for credit in anotherRead MoreThe Importance of the Renaissance to the Reformation in Germany1263 Words   |  6 PagesThe Importance of the Renaissance to the Reformation in Germany The reformation was a movement that fundamentally challenged the authority of the Roman Catholic Church. The role of the clergy was undermined and the relationships between national countries and the Roman Catholic Church were threatened. The renaissance began in Italy during the fifteenth and sixteenth centuries through patronage and the flourishing society, and Rome achieved cultural prominence. It laterRead MoreThe Balkan Of World History1518 Words   |  7 Pagesinfrastructure, language roots, and religion of the Balkan area. The Roman, Byzantine, and Ottoman empires were the ones that for diverse reasons left a more lasting impression in this area. To be more specific, by means of architecture, the province of Plovdiv, Bulgaria is the perfect example on how these three empires left their cultural mark. Considering this, the cultural layering observed in East Central Europe is the result of these three empires’ religious architectural and language legacy left due toRead MoreEurope During The Medieval Period986 Words   |  4 Pagesrepresent the medieval demography show a population decline during the Late Antiquity, slow population growth during the Early Middle Ages, large population expansion during the High Middle Ages, and a variation of population decline and growth during the Late Middle Ages. The Late Antiquity reflects the decline of the Roman Empire. From 150 AD to 400 AD the population of the Roman Empire went from 70 million people to 50 million people. The empire’s decline began with the Antonine Plague, lasting from

Wednesday, May 6, 2020

The Theory, Differential Association Theory And...

This paper examines the concepts of criminological theory, the history of criminological theory, differential association theory, and the effectiveness of Boys Girls Club of America. The basis of criminological theory is to provide an explanation for what causes crime and criminal behavior. The differential association theory was a leading sociological crime theory that was created by Edwin H. Sutherland. This theory argues that delinquent behavior is learned through interactions and communication with other peers. The purpose of this theory was to develop a theory that could be applied universally among all crimes and criminal behaviors, including white collar crime. Differential association argues that delinquent behavior is learned from an excess of definitions favorable to law violation, and vice versa for nondelinquent behaviors. This theory has its fair share of criticisms; the testability has been scrutinized for the inability to operationalize the concepts of differen tial association. Specific mentoring programs, such as the Boys Girls Club of America, were created to establish a positive environment for youth for development. The Boys Girls Club’s mission is to provide developmental guidance to youth to reach their full potential as responsible citizens. Members have expressed that these clubs provide a caring, nurturing environment, an atmosphere to learn positive behaviors, and assistance in developing diverse skills and abilities. ThisShow MoreRelatedEssay on Criminological Theories13456 Words   |  54 PagesStudent Study Guide for Ronald L. Akers and Christine S. Sellers’ Criminological Theories: Introduction, Evaluation, and Applications Fourth Edition Prepared by Eric See Youngstown State University Roxbury Publishing Company Los Angeles, California 1 Student Study Guide by Eric See for Criminological Theories: Introduction, Evaluation, and Application , 4th Edition by Ronald L. Akers and Christine S. Sellers Copyright  © 2004 Roxbury Publishing Company, Los Angeles, CaliforniaRead MoreThe Effects of Socio-Economic Status on Students Achievements in Biology13494 Words   |  54 Pageswitnessed series of political instability with obvious effect on educational policies at federal, state and local government level. This gradually laid the foundation of fallen standard in education at the primary and secondary level which caused differential academic performance of students. In the quest of finding survival feet, the nation has evolved series of socio-economic and educational measures but these have not improved the socio-economic status of families in the country. It’s within thisRead MoreEvaluation Plan for Arkansas School of the 21st Century Program6447 Words   |  26 Pagesbuilding housing 5 additional classrooms. S21C is an integral part of the Paragould School District. By August, 2013, seven preschool classrooms will join kinderg arten and first grade students at the new Paragould Primary building located on Country Club Road. The Paragould School District was successful in passing a millage to build this site and a middle school (Gilliam, amp; Marchesseault, 2005). The funding has been successfully braided together since 1996 using funds from the Parents as TeachersRead MoreInflence of Parental Monitoring on Adolescent Decision Making9466 Words   |  38 Pagesinvolvement in their children’s education at home and at school in order to establish effective policies for family-school programs and practices. The findings challenged commonly held assumptions about the effects of social background on the levels and effectiveness of family-school partnerships. A number of research studies show that parental involvement in children’s learning activities positively influences their levels of achievement and motivation to learn (Epstein, 1992). Other studies confirm that familiesRead MoreLibrary Manage ment204752 Words   |  820 PagesCard Number: 2007007922 ISBN: 978–1–59158–408–7 978–1–59158–406–3 (pbk.) First published in 2007 Libraries Unlimited, 88 Post Road West, Westport, CT 06881 A Member of the Greenwood Publishing Group, Inc. www.lu.com Printed in the United States of America The paper used in this book complies with the Permanent Paper Standard issued by the National Information Standards Organization (Z39.48-1984). 10 9 8 7 6 5 4 3 2 1 To our grandchildren Annika, Jacob, Katherine, Madison, Magnus, and Molly Read MoreStephen P. Robbins Timothy A. Judge (2011) Organizational Behaviour 15th Edition New Jersey: Prentice Hall393164 Words   |  1573 Pagesreproduced, with permission, in this textbook appear on the appropriate page within text. Copyright  © 2013, 2011, 2009, 2007, 2005 by Pearson Education, Inc., publishing as Prentice Hall. All rights reserved. Manufactured in the United States of America. This publication is protected by Copyright, and permission should be obtained from the publisher prior to any prohibited reproduction, storage in a retrieval system, or transmission in any form or by any means, electronic, mechanical, photocopyingRead MoreOrganisational Theory230255 Words   |  922 Pages. Organization Theory Challenges and Perspectives John McAuley, Joanne Duberley and Phil Johnson . This book is, to my knowledge, the most comprehensive and reliable guide to organisational theory currently available. What is needed is a text that will give a good idea of the breadth and complexity of this important subject, and this is precisely what McAuley, Duberley and Johnson have provided. They have done some sterling service in bringing together the very diverse strands of workRead MoreBrand Building Blocks96400 Words   |  386 Pagesthan products because organizational associations such as innovation, leadership and trust are particularly relevant in endorsement context for ex. 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TranslationRead MoreReed Supermarket Case32354 Words   |  130 PagesAcknowledgements Publisher’s acknowledgements Abbreviations About the author xvi xxx xxxiv xxxvi xli xliv PART I THE DECISION WHETHER TO INTERNATIONALIZE 1 2 3 4 Global marketing in the ï ¬ rm Initiation of internationalization Internationalization theories Development of the ï ¬ rm’s international competitiveness Part I Case studies 3 5 49 71 103 146 PART II DECIDING WHICH MARKETS TO ENTER 5 6 7 8 Global marketing research The political and economic environment The sociocultural environment

Tuesday, May 5, 2020

International Marketing Marketing Mix

Question: As a marketing consultant for Nike Inc. you have been asked to recommend 2 international growth markets for it to enter in 2017/18. Growth markets should be countries or cities where there is currently no presence. Primary focus for market entry will be through physical store presence but you may recommend that online presence may be required to support this. You should prepare a report for the board of directors addressing your consultancy brief, this should include: An analysis of the macro and micro factors impacting on the sports retail market and the market recommendations An analysis of Nike Inc. internal business factors An evaluation of market potential, to include an identified shortlist of markets with potential. Then using a clear and identified screening criteria, select two recommended markets with clear justification as to why these markets have been selected. Recommended and justified market entry strategy to take Nike Inc. into each of these markets Recommended adaptations to Nikes marketing mix for the proposed markets, ensuring differences in culture and consumer behaviour are recognised in their marketing mix activity Answer: Introduction International Marketing or the international trading is a platform which provides the business with the new approaches and the perspectives. It plays a major role while contributing towards the revenue generation and improves the financial aspects too. The major contributors for the Nike are the North America, Western Europe, Central and Eastern Europe, Greater China, Japan and the other emerging markets. The report defined below is related to the discussion of international market of the Nike. It is essential to conduct the survey and analyze the actual scenario of the market, where the subsidies or the stores are about to open. In the report, two international cities or the countries are defined where Nike can implement its new venture in the year 2016-17. The report shown below covers the major sections like the research analysis and constructive analysis in which there are sub sections too (Nike Team, 2016). This report will be present in front of the CEO, so that the countries c an be finalized for setting up the retail store. To analyze the international market, the two countries which are selected are named as the UAE and the New Zealand (Soni, 2014). These are the countries which also require the retail stores, outlets and manufacturing unit at some of their locations. Research Analysis Before opening the stores or the retail outlets in the other countries, it is essential to go through the suitable studies and research related to the market. By this, the probability and the success of the product may also increase. Some of the major aspects involved in the research analysis are defined below: - Macro and Micro Economic Factors Macro and Micro factors are those which are essential to analyze before starting the business in any other country. These factors can become key to success and can also result to the cause of the problems. The Macro factors generally include the PEST analysis of the country, which is helpful in showing the suitable rules and regulations related to the country. PEST analysis for both the countries, the table is shown below: - PEST ANALYSIS UAE New Zealand Political The rules and regulations for trading are quite tough. The rules and policies are applicable. Economic The country possesses the strong economic background. So, for the sports outlet, no financial issues will happen. The economy of the country totally depends upon the agriculture. So, it is suggested that the outlet of Nike should be open after observing the demographic conditions. Social Socially, the country is very cooperative. The country involved in the CSR activities. Technology The technology is also considered as an additional factor, because to promote the retail store, technology is required. Technically, the country is sound but only in the major cities. Rural areas are still not connected. Environmental The manufacturing units have to place out of cities to prevent the environment. Due to the agriculture perspectives, the production should be secure and environment family. Legal The rules and the policies are tough. So, the legal authorization is must. The legal approval for the retail store and the manufacturing unit is mandatory. (Tick, 2013) After the Macro environmental factors, there are some micro environmental factors too which are creating the impact on the sales and the marketing of the Products. These factors are mainly controlled by the organization. The micro environmental factors affect the small sized, medium sized and the large sized companies in the different manner (Team, 2015). Some of the common Micro Environmental factors for the both the countries are shown below: - Micro environmental Factors UAE New Zealand Competitors Adidas Adidas Suppliers Due to the absence of the manufacturing unit, the shoes demanded by the customers are purchased by the vendors rather than the suppliers. The online sites and facilities are available. Some of the retail stores keep some of the pieces of shoes. But, for the authorized dealership, the Nike have to try hard. Customers Due to the strong economic background, the customers want to purchase the products. The teenagers the youngsters and the sports team of different games will definitely like the product. So, the product should be prepared according to the choice of the customers. Public The hope of the positive feedback from the customers. The hope of positive feedback from the customers. Workers Easily Available Have to search through recruitment Marketing Intermediaries Advertising, campaigning and Promotions Promotions and Advertising is the option. By assuming this analysis, it is clear that the establishment of the Nike retail store in the International market can only become easier when the store will follow all the norms and conditions related to both the countries (Elliman, 2013). Internal Business factors of Nike Due to the strong identification of the organization in the market, the internal business strategy and the internal business environment of the company is also very strong and well defined. There are various primary activities which help the organization maintain the unique identity in terms of the business. On an average, Nike possesses about 765 factories in 46 countries of the World. This shows the efficiency and the effectiveness of the inbound and outbound logistics of the company. To manage and maintain the self-identity and renowned brand name in the world, the Nike used its swoosh logo and the Just do it slogan also (Mai Nicholas Warmke, 2012). The service activities of the Nike are mainly conducted by the internal system of the organization and for the other activities, the organization may use the outsourcing. To handle such a large business, technical aspects are also taken into consideration (Lindblad, 2011). Identification of Challenges While doing the business or launching the new stores, the company (i.e. Nike) has to face the challenges which relate to the customers, the maintenance of the stores, the policies related to the campaigning advertising and many more aspects. For this, the company has to maintain the potential in the international market to perform well. To identify the potential or the market demand, it is essential to collect the data from the customers (Lazazzera, 2014). The mode of data collection may be survey, personal interviews and many other aspects. By this, the product strategy for the international market can be easily planned. For evaluating the potential, the sales analysis of the product, market analysis reports and the other essential reports can be analyzed, so that the actual potential of the market can be determined (Germano, 2013). Justification of the Market As it is clear in the paragraph above that the UAE and New Zealand are selected for introducing the products of the Nike. The reason behind selecting the market will be that there is no manufacturing unit of the company established in these countries and the demand is also rising continuously of these products. To increase the sale of the product in the market and to provide the customers with the various options, these markets are selected. New Zealand generally supports various sports and the economic level of the UAE is very well-defined, so in both the markets, the chances of growth of the product is very high and the customers can easily purchase the products too. Constructive Analysis In this phase, the market entry strategy and the marketing mix related to the company will be defined. By the help of this, the promotion of the company can become possible. Market entry strategy A market entry strategy is the process which is considered as the direct entry of the product in the market, according to the demand of the customer or the country. When any company tries to enter into the overseas market, various growth options are provided to them. Though the market strategy possesses the common methods, but these methods are modified according to the location of the country and the requirement of the customers. To identify the common type of market entry strategies follow the Appendix 1. As it deals with the sports shop and wants to establish the physical store in the UAE, so it is essential to decide the market entry strategy according to the requirement of the country. The most appropriate market entry strategy which provides the growth options in the UAE are the Licensing, Contracting, Merger and Acquisition, Fully owned manufacturing facilities and sometimes exporting also suits the country. After analyzing the key factors related to the Macro and Micro economics, it is identified that according to the investment point of view, the country can support the new venture very easily and by this, the business will get the definite promotion. For an example, in the Gulf countries, mainly in UAE, the females mainly like the high heels and the kids teenagers mainly like the sports shoes. Due to the improvement in the standards of the sports and various games, the sportsperson or the athletes also want some different types of shoes. This increases the demand of the brand ed retail shoes in the market. So, the Nike planned to open the retail store in the UAE. For licensing, the company has to deal with the government and the regulation authorities. Whereas for the manufacturing units, the company can purchase the location and manufacture the most demanded products. For Contracting the Mergers and the acquisition, the shoe company can tie up with the other branded stores or can also sign the treaty with different domain brands (For e.g. sports clothes making company, sports accessories making company). In comparison to the UAE, the New Zealand possesses the slightly different strategy. As the rural areas are mainly focused towards the agriculture, so the location of the store should be decided in such a way so that the possibilities of growth will increase. The most suitable market entry methods according to the New Zealand are the Franchising, contract manufacturing, Joint Venturing and Exporting. Exporting is successful, because it provides only those products which are in demand, but simultaneously with the increase in demands the requirement of the store is also required. Contract manufacturing and the Joint Venturing is also considered as an option in which the chances of product selling increases. The other organizations can easily invest in the contract manufacturing and by venturing, the customers can easily become profitable. Marketing Mix Marketing Mix is the process which is mainly defined for building the suitable identity of the product in the market. The concept of Marketing Mix was firstly defined by the Kotler. Marketing mix mainly consists of the 4Ps namely the promotion, price, place and product. The extended version of the 4 P is the 7 P in which the 3 more factors will be added .They are the people, processes and physical Evidence. The marketing mix plays a major role in the success of the product in the international as well as the local market. To identify the 4 PS in the diagrammatic form see Appendix 2 (Bennett, Coleman Co. Ltd, 2015). In the UAE, there are various sports clubs available which may be helpful in promoting the suitable accessories related to the sports. Some of the common names of the sport clubs are the Al Nasr, Dubai Club for special sports, Hatta club and many more. The first step of the Nike to maintain the marketing mix is the involvement of the Company in the activities related to these sports clubs (Nahyan, et al., 2012). For product, the organizations do not have to make the tough efforts, because due to the brand image all the customers want to purchase their product. For promotion and advertising, the company can support the event and provide the gift hampers. By the help of this, the customers get attracted towards the offers provided by the company. For pricing, the company has to plan the nominal prices, so that it becomes easier for the customers to purchase the products. For better result, the categorization of the size may be done so that the customers can find out their choice easily . For selecting the place to open the store, the Nike can easily get the suitable location, but it would be preferable if the store will open in the Malls or heavily crowded areas. The people also contribute in purchasing the products and due to the advance economic infrastructure, the demands are very high. The marketing strategy also follows various processes to promote the product. In the UAE also, various market processes are followed by the Nike. The brochures, price-list and the product appearance are included in the Physical Appearance. It can be distributed in the printed form to the customers, so that the customers can purchase the products easily.(Team, 2010). Though, Nike already adapts various methods to promote the products. The most common methods are the agreements of the sponsorship with the celebrities and the athletes, support through the college and school students who are interested in the athletics. But, every country possesses the different policies and rules and regulations, so it is essential to identify them (kasi, 2011). Similarly, with New Zealand to manage the marketing mix, the company has to plan various aspects. As the product has already got a strong brand image, so there is no requirement to introduce the product in any of the markets. In the market in New Zealand, the company has to introduce the nominal rate products with good feedback so that the customers can purchase it easily. Its not possible for the customers to purchase the product with high prices. If the product may be divided into category of school going kids, teenagers and college going students, working professionals and many more then the price can be defined easily and the promotion of the product can also become easier. To promote the product, various hoardings, advertisements and communication through the radio can be done. The other mode of publicity can also be used like promoting the sports events, schools and universities event, so that the kids and students get attracted toward the product and the retail stores gets the publicity. For locating the stores, it is essential to select the location according to the demographic conditions of the country (Hanssens, et al., 2005). The most prominent locations should be selected to open the retail store, so that it can become the center of attraction and various customers purchase the products from the store. The people of New Zealand are generally middle class to high class, so the product can only be launched according to the requirement of the customers. The different processes used in the form of the products services are also provided to the customers. Finally, for the physi cal evidences, the promotional coupons or the cash back coupons are provided to the customers, so that they can build the trust on the people. Role of Models in Marketing The models related to the marketing are helpful in defining the different marketing strategy and the methods by which it becomes easier for the organization to enter into the global or international market. Some of the common models are the value chain and discipline model, SKEPTIC Model, Life Cycle Model and many other models (ecdcus Team, 2015). These models directly or indirectly help in defining the suitable platform for the new business in the country or the city. The value chain and the discipline model will be helpful in defining the actual value of the product in the market. Whereas, the life cycle model will define the strategies related to the market from the very beginning till the end (Kerlinger, 1994). Conclusion The market strategy and the future perspectives related to the Nike are already provided above. It is essential to make the suitable marketing strategy to enter in the overseas or the international market. But simultaneously, it is recommended that the pre-preparation and the gathering of the information related to the international market are very essential. The surveys and the market reports also add as an additional feature for the information related to the market. This will definitely contribute in the success of the product in the international market. Bibliography Bennett, Coleman Co. Ltd, 2015. Definition of 'Marketing Mix'. Marketing Mix. ecdcus Team, 2015. Basic Overview of Various Strategic Planning Models, s.l.: ecdcus. Elliman, H., 2013. The Macro Micro elements of Nike. The Macro Micro elements, 12 October. Germano, S., 2013. Nikes Challenge: Staying Ahead of the Pack. Nikes Challenge, 20 September. Hanssens, D. M., Peter S. H. Leeflang Dick R. Wittink, 2005. Market response models and marketing practice, s.l.: John Wiley Sons, Ltd.. kasi, 2011. Marketing Plan of Nike. Marketing Plan of Nike. Kerlinger, F., 1994. The Role Of Marketing Research. s.l.:s.n. Lazazzera, R., 2014. How To Evaluate Market Demand For Your New Product Idea. Market Demand For Your New Product Idea , March. Lindblad, M., 2011. Internal External Factors That Affect an Organization. Internal External Factors. Mai, B. Nicholas Warmke, 2012. Comparing approaches to compiling macro and micro productivity measures using Statistics New Zealand data, Palmerston North, New Zealand: Crown. Nahyan, H. S. K. B. Z. A., H.H. Sheikh Mohammad Bin Rashid Al Maktoum H.H. Sheikh Hamdan Bin Mohammad, 2012. Dubai Sports Council Marketing Manual for Dubai Clubs, s.l.: dubaisportscouncil. Nike Team, 2016. Global Manufacturing. [Online] Available at: https://manufacturingmap.nikeinc.com/ Soni, P., 2014. NIKEs Global Markets: Top Revenue Earners. Revenue analysis for NIKE by geographical segment, December. Team, M., 2010. Marketing Mix of Nike. Marketing Mix, 06 December. Team, U., 2015. Effect Of Macro Environmental And Micro Environmental Marketing. Macro Environmental And Micro Environmental Marketing , 23 March. Tick, N., 2013. Macro and Micro Factors. Macro and Micro Factors , 01 March.

Sunday, April 12, 2020

Temple University Business Plan Essay Example

Temple University Business Plan Essay The Temple Consultants designed the Virtual Insurance Procurement Portal (IPP or PIP Portal) to align the brokerage model with evolving technology to address these pressing issues. The PIP Portal is an online resource planning tool that automates the overage procurement process, facilitates communications, increases transparency, and serves as a consolidated information source. The IPP will feature two separate, customizable interfaces for the broker and the client to suit each users needs. Figure 1: PEST Stable Social North American Insurance Industry 2012-present Political Demand increased transparency Non face-to-face communications Economic Industry consolidation Disintermediation through technology Technological Technological ubiquity and mobility Market Analysis In order to adapt to the political, economic, sociological, and technological rends affecting the insurance brokerage industry, brokers must redefine their current business model. The future brokerage model allows brokers to fully demonstrate the true value of their supplier, problem solver, innovator, and partner functions to clients. If clients only recognize the value of the brokers supplier function, industry competition will increasingly be based on price. Strategic changes must correspond to current insurance brokerage industry trends, which can be identified with a PEST framework (Figure 1). Political There are no new political trends affecting the insurance brokerage industry today. Despite the stable political environment, brokers must vigilantly ensure that all business practices uphold all federal and statutory regulations. The PIP Portal code will incorporate safety nets to ensure users do not violate any regulatory requirements. Industry consolidation and disintermediation through technology are the main economic trends affecting the insurance brokerage field today. Large brokerages expand and secure market share primarily by merging and acquiring smaller competitors. Increased consolidation is concentrating and intensifying industry rivalry. Disintermediation through technology is encouraging clients with simpler risk management needs to seek inferior broker substitutes. Most clients with simple risk management needs already find it hard justifying investments towards broker services and building relationships with brokers. We will write a custom essay sample on Temple University Business Plan specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Temple University Business Plan specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Temple University Business Plan specifically for you FOR ONLY $16.38 $13.9/page Hire Writer These economic trends are challenging the brokers role in the insurance procurement transaction. Social Entities spend less time socializing face-to-face and prefer to socialize through technology-enabled media. Customers and employees are becoming more accustomed to communicating through technology than through face-to-face tenting or over the phone. Brokers that do not embrace technology to facilitate the broker-client relationship risk being pushed out. Technology is continually affecting the way com pansies conduct operations. Businesses have already adapted significantly to align strategy with new technologies. As technology continues to evolve, companies need to further align strategy with the evolution of technology in order to remain competitive. 3 Our proposed brokerage model was developed to help brokers overcome the various competitive forces affecting the industry and challenging the brokers role as risk advisor. These forces are driven by the trends identified in the PEST evaluation and analyzed under a Porters Five Forces framework (Figure 2). Figure 2: Porters Five Forces Insurance Brokerage Industry Force industry Rivalry Intensity Very Strong Threat of Weak New Entrants Buyer Power Moderate to Strong Supplier Power Us busiest Explanation C] Leading industry competitors (201 3): Marsh, Non, Willis, and Arthur J. Gallagher C] Disintermediation through technology CLC Clients cannot perceive true value C] Threat of strong price competition 0 Low to moderate buyer switching costs CLC Response from powerful incumbents L] Relationship-driven industry C] Access to suppliers I. E. Arises C] Buyers need insurance and risk management solutions C] Small clients have simpler needs, but are price sensitive D Large clients need individualized solutions, and have high bargaining power C] Relationship-driven customer switching costs C] Difficulty realizing true value CLC Control policy form design C] Control premiums 0 Intense competition among carriers C] Direct marketing 0 Alternative Risk Solutions Industry Rivalry The United States insurance brokerage industry is highly competitive. Marsh, Non, Willis, and Arthur J. Gallagher are the strongest commercial brokerage competitors. The industry has undergone a long-standing trend of consolidation as larger brokerages acquire smaller competitors. Disintermediation is becoming increasingly apparent as more clients, 4 particularly those with simpler needs, are severing broker relationships and relying on technology to develop their own, cost-effective risk management programs. Though, clients recognize the value of the brokers supplier function, many clients fail to realize the true value of the brokers problem solver function. Because switching costs are relatively low, clients can easily rancher to another brokerage that clients believe is capable of providing them the best coverage at the best price. Brokers who fail to address the consolidation, disintermediation, and value non-recognition trends threatening the industry will succumb to pressures stemming from increased rivalry. New entrants pose little threat to the US brokerage industry. Though, it is relatively easy to start an insurance brokerage firm, new entrants face hostile responses from industry incumbents. To build a book of business, new entrants must convince potential clients to dissolve pre-existing broker-client relationships. To provide clients the right products at the right price, new entrants must also establish strong broker-carrier relationships. The chosen brokers relationship with carriers, will largely influence the clients risk management program. Built on trust, this relationship-driven industry has high entry barriers lessening the threat new entrants pose to established brokers. Buyers Commercial insurance brokers face moderate forces from large clients and strong forces from small clients. Small clients are those with simpler risk management needs and large clients generally have more complex portfolios. Large clients exert moderate buyer power on brokers because large clients cannot easily find substitutes to their brokers problem solver and partner functions. However, large clients have a higher switching costs compared to small clients 5 because it takes time to rebuild relationships, trust, and understanding with a new broker. Small clients exert strong buyer power on brokers because traditionally, small clients do not avail broker services and have a harder time realizing the true value brokers provide. Small clients can easily access inferior broker alternatives and are more price sensitive. However, buyers relinquish some power since all clients need a means of risk transfer. Buyer power is weakened when considering brokers can leverage relationships with carriers to provide clients with better coverage. The commercial brokerage industry is heavily relationship-driven, wherein most clients tend to remain loyal to their broker. The primary factor disrupting existing broker-client relationships is severe pressure for cost reduction. Overall, buyer power is increasing more clients fail to recognize the true value brokers provide and consider alternative solutions to manage risk. Suppliers Suppliers have considerable strength in the LOS brokerage industry. Insurance carriers largely derive power from control over capacity, policy design, and ability to accept or decline a risk. Without broker-carrier understanding brokers are incapable of adequately serving clients. Strong supplier power is also driven by intense competition among the carriers themselves. However, since carriers compete to ensure that their products are brokers first choice recommendation, supplier power slightly diminishes. Overall, suppliers exert great strength over the commercial brokerage industry. Insurance brokers face a weak to moderate level of threat from substitutes because generally clients are most comfortable entrusting experts with their risk management, consulting, and procurement needs. However, disintermediation through technology and increased 6 availability of alternative risk solutions are jeopardizing the brokers role. Currently, substitutes still pose little threat to the industry. If clients continue underestimate the true value brokers provide, the threat of substitutes will strengthen and exert increased competitive pressure on the commercial brokerage industry. The Virtual Insurance Procurement Portal Technology Integration The Virtual Insurance Procurement Portal (PIP Portal or IPP) is a resource planning system that automates the coverage procurement process, facilitates communication, and provides a cohesive, organized, center of information for enhanced client management. The portal will integrate seamlessly with Windows and MAC operating systems and will be available in standard, touch, and mobile options. Because the IPP tool is designed to enrich the borderline relationship, it must be portable and provide constant access to client-related material. Due to the highly sensitive nature of client information, the IPP will employ state-of-the-art security encryption to ensure account integrity is always protected. Interface The interface will have an intuitive, visually appealing, tiled interface. Each of the tiles is customize able and will provide quicklime to selected information such as policies, interaction logs, chat, conferencing, client preferences, loss history, and industry benchmarking data. The platform will leverage a licensing agreement with Google data analytics to provide superior search capability within client accounts. As an example, the broker will be able to err policy limits, and the portal will return, the per-occurrence and aggregate limits of each policy as well 7 as any deductibles and exclusions. In the event of a loss, the broker will be able to best assist the client regardless of either users location or time. Users can set preferences within each client profile, so they will receive industry- specific news from insurance publications such as Advised and Business Insurance. This will ensure clients are consistently up-to-date on the broad issues affecting clients. Brokers will be able to directly interface with the carriers through the portal or Reps, and carriers will be able to directly upload policy deliverables into the portal. The portal will be able to Scan and quickly return key information, such as rates and exclusions, to the brokers. From the clients perspective, the portal will also have an intuitive, tiled approach, and work similarly to the brokers version. However, certain information, such as internal procedures will be excluded from the clients view. With all marketing and Reps results stored in the application, this will eliminate the administrative burden of preparing transparencies, as made requisite by the 2004 Spirits investigate. Storage and Maintenance The PIP Portal will include 24/7 customer service to detect and repair bug issues, and will make use of site management to ensure that all applications are consistently fully operational. Data storage will be securely encrypted and will be outsourced by a cud storage firm. This platform will be downloaded online, and will not require any hardware or packaged software. The platform will integrate with legacy information and underwriting systems as well the Microsoft suite. This will allow for steady assimilation to the product and will enable brokers to employ the most optimal mix of resources. Financial Market Entry We propose that the IPP be developed in-house, by a large brokerage firm. Due to lack of proof of concept at this stage, it may be difficult to find venture capital. Evidence supporting proof of concept will come from beta testing. Following development, the brokerage firm will have ownership of the PIP Portal. Business Model Our estimates indicate that about $1 will be required to develop a functioning prototype. During beta testing, the brokerage will partner in capital formation, which will enable developers to bring the software to optimal functionality and ensure that the software is capable of large-scale use. The portal is designed to syntactically align with the broker process and become inextricable from placement and client-servicing processes. During the three year battening phase, market share will be low at approximately half a percent. This period will allow brokers, partner carriers, and clients to collaborate and ensure that the tool provides maximum utility and enhances the brokers value-proposition. Upon completion of the beta phase, the brokerage firm will garner significant competitive advantage through full integration of legacy systems in place. Benefits and Cost Savings From a cost and benefit perspective, PIP Portal will increase process efficiencies in placement and servicing drastically reduce transaction costs, add value, and increase clients willingness to pay. We believe that IPP will provide savings for the broker by reducing the 9 number of staff needed to properly service an account and providing tools to assist the client as effectively as possible. The IPP solution will reduce administrative costs, increase efficiency, and provide savings on transaction costs. This does not necessitate a direct monetary discount for clients, but it ill provide greater utility and competitive advantage by increasing value relative to premium paid. Further proof of concept will provide greater clarity on the amount Of savings and the increase in productivity that will result from implementation of the PIP Portal. Financial Analysis By interviewing Bill Mortar, an adjunct professor at Temple University and an IT professional with knowledge in software development, our team estimated development costs for the IPP. The portal will need to be developed in phases. We designed a four-phase implementation process with varying development time and costs. Phase is currently underway and primarily involves researching design functionality and capability. Phases II through IV will build proof of concept that the PIP Portal must establish prior to implementation. The table below shows a breakdown of the four phases and major tasks that must be achieved in each phase. Phase I (6 months) Setting the business requirements Functionality and navigation considerations Screen mock-ups Total Cost Phase I Cost $50,000 Phase II (6 months) Translating business requirements Database structure Detailed software design and documentation Total cost of Phase II 150,000 10 Phase Ill (12 months) Coding Portal testing Bug tracking Total Cost of Phase Ill $700,000 Phase IV (12 months) Beta version testing Further development Maintenance Considerations Total Cost of Phase IV $1 75,000 Estimated Total Time Estimated Total Cost 36 months The team estimated the total time for development and testing to be 36 months at a cost Of $1 We have estimated the amount of value the PIP Portal could provide to a brokerage firm by conducting a net present value (NIP) analysis. According to Hoovers, the insurance agency and brokerage industry in the United States cords approximately 100 billion in revenue annually, and is expected to experience medium growth over the next 1 2 to 24 months. We decided a 5% growth rate is a reasonable assumption based on Hoovers data. We used very conservative numbers to estimate the extent of additional market share a brokerage firm could capture after implementation. Our assumptions is that a firm could capture an extra . 5% of industry revenue in the first year after the three year beta phase and is adjusted up to 3% at year five.

Wednesday, March 11, 2020

Carteret County the Original Crystal Coast

Carteret County the Original Crystal Coast Carteret County is a coastal county that lies at the southeast point of North Carolina. The county is known for its historic sites and its local tourism and fishing industries. While many people visit this county each year few have fully explored its vast resources or any thing this county has to offer. Because of the amount of public accessible beaches few tourist venture inland to further gain insight about the historical values of this rich county. Waterways run through the county which historically provided transportation of goods and services inland. Now bridges and roads take role as the main transportation lines. Because this county is among the oldest in the state, county history dates back to 1722, when the currency was pounds and shillings. To further investigate the history of this county and understand the counties relevance several aspects will be discussed: geographic location, forest resources, major industries, historically important or interesting people, and the ori gin of the cultural make-up of this county.Locator Map of Carteret County, North Carolina, Un...Geographic LocationCarteret County is located directly on the east coast of N.C. and is surrounded mostly by water on the east and southern coast. The county is connected to Craven County to the North and Jones and Onslow to the West. The county is roughly 520 square miles of land and 820 square miles of water. Most of the soil on this land is split between several different types of sands and loams; this is so because much of the land is considered swampland or marshland. The general landscape is flat giving rise to the name “the coastal plain”. Many rivers flow up from the sounds and bays that surround half of this county, these played an important part in the development of this county which will be discussed in depth later. The main rivers are...

Sunday, February 23, 2020

Capital One Essay Example | Topics and Well Written Essays - 1000 words

Capital One - Essay Example The external environment can be analyzed by using various tools like that of PEST analysis. The PEST analysis stands for Political factors, Economical factors, Social factors and Technological factors. The analysis of Capital One can be undermined as below: Political factors – The markets in which the company was operational did not have much political disturbances and therefore it could be said that the company experienced conducive political factors for its new strategy on acquisition. Economic factors – This was undoubtedly the most vital aspect for a company operating in the domain of financial services and products. The economic slowdown and the global meltdown really hampered the growth of the company. The financial performance of the company worsened on year – to – year basis even after following the strategy at an aggressive way. The faith of the general public upon the financial system was disturbed as one after the other too – big – to – fail companies became bankrupt. Social – Capital One had considerable social acceptance and that proved beneficial for the company to continue the business even in the trying times of financial slowdown. The company had taken number of efforts and initiatives that contributed towards the community development and corporate social responsibility and those have paved ways for the sustainable growth of the company. Technological factors – The company has been observed to be technologically sound and it was found that that Capital One offered best of the attributes based on the technological developments. It could be said that the research and development in the technological segment paid well as the environment is continuously changing. In spite of having an aggressive policy based upon acquisition, it could be said that Capital One Financial Corporation did not had a great year. Though the reasons were primarily external, like that of the global meltdown and economic slowdown, yet

Friday, February 7, 2020

The helpful of technology Essay Example | Topics and Well Written Essays - 1000 words

The helpful of technology - Essay Example It is apparent that  whatever we do in our daily lives we interact with technology. Our interactions with technology may be direct or indirect, but the fact of the matter remains that we are benefiting a lot from technology (Oak Web). Have you ever wondered what the world would be like without technology? Talk about the communication sector, transport sector - air transport or road transport or water transport, and the financial sector. We need technology to make all these sectors afloat. Our lives depend solely on these sectors, and without technology, we are not able to have a smooth life. Technology therefore, makes it easy for use to live. The transport sector has undergone a lot of technological advancements throughout the world. Since the invention of the wheel, the transport sector has made incredible transformations. Modernization of the rail transport, road transport and the transport has made it easy for people to transport all sorts of things across the planet. Travelling has been made fast and people take the shortest time possible to get to their destinations. Goods on the other hand, take the least time possible to reach their intended recipients across the continents. This means that people make huge economic gains. Entrepreneurs are able to make maximum profits from their daily business transactions that involve moving their goods from one place to the other (Oak Web). Africa for instance, is the biggest beneficiaries of technological advancements in the transport sector. Close to all African countries are developing economies and therefore, each of them is making large gains out of trading with the rest of the world. The presence of very reliable means of transport to these destinations is of greatest essence to them. Large scale farmers in Africa, especially the ones who are in the flower industry are able to make deliveries to

Wednesday, January 29, 2020

Spreadsheet project Essay Example for Free

Spreadsheet project Essay The user of my spreadsheet is a games company owner who needs to collect and distribute data to predict capital expense of wages for the future. They need to be able to see the expenses of their company and how, if the input into the spreadsheet is altered, the output is changed also. My spreadsheet is a model that simulates the real thing. As a company owner, the user should be able to record the various categories of income and expense and decide their course of action depending on how the store is doing on the spreadsheet. It should allow the user to make comparisons of profit/loss for that particular week, month or year. However, I will be going through this product as though I were the user and make references to the actual user of real life at appropriate times. I will be presenting the worksheets over a time span of a month so as not to make it too complex to understand. The product is aimed at the soul user of the system, which will be the storeowner. The name of my company is called Nintendo Universe. My company designs computer games for a number of consoles that we build. We sell accessories along with toys and magazines. We are basically a wholesaler selling our components to other big businesses. Our main headquarters is in California, America. We have a second headquarter in Tokyo, Japan. We have various factories and warehouses that produce and store these products and export them to big businesses on request. I have a total of 480 employees, out of which 100 are employed for the headquarters. Two hundred staff members are in the two production factories. The rest of my staff works in the various warehouses. I am the sole owner of the company. As this is a large trading enterprise, I have chosen to have a board of directors who are assigned various shared responsibilities and they own percentages of share in the company. As the executive director I overlook at all aspects of the business and with the help of my associate directors we try to promote sale, reduce loss, supervise the role of our employees and ensure that the company is run smoothly. Therefore they have a rotating system that will benefit and make our employees job easier. They are currently doing very well financially and may soon have to expand my business. This will in effect mean more vacancies and hopefully in the long run more profit. The problem is that Nintendo have been using manual methods such as using pen and paper and storing staffs information in cabinets. Therefore I will be creating a new and improved method of storing information better than their previous manual methods. With the current system the company is unable to do this because it is impractical and will take a lot of time just to find out the results for one small criteria but with the new system answers to many criteria changes can be found instantly. The companys current situation will have to be taken into account, this will be achieved through an interview with the people concerned after which the advantages and disadvantages must be studied. Each cell in a spreadsheet has its own address. For instance the intersection with column D with row 4 will give a cell with the address D4. (As shown above) Spreadsheet grids are frequently very large and only a small section of the sheet can be viewed on the screen at any one time. One sheet can be linked to another, so that as data is changed in one sheet, the other sheet is automatically brought up to date. The Formulas entered in a spreadsheet can refer to absolute data (fixed data) e. g. the price of a can drink is fixed at any time or relative data e. g. the time taken to drink 1 can will vary from time to time. Spreadsheets also have Macros, which are a set of commands recorded by the computer, which then can be replayed whenever the user wishes. These are particularly useful for tasks that will over and over again. Excel (Spreadsheet program) is able to use database features such as querying this is called filtering. This is something, which only sophisticated spreadsheets have. Why you need to use a spreadsheet: A spreadsheet is a powerful tool for experimenting with different mathematical models and asking What if! It can calculate totals and averages in a matter of few seconds whereas a manual system will take longer and is more likely to carry a higher percentage of human error. A spreadsheet also has the ability of formatting and displaying the results in different ways. It also comes with a library of formulae and functions as part of the program. The formulaes assist us in financial calculations, handling dates and times, for mathematical and statistical work and for logical expressions (e.  g. the SUM function and IF statement). Recalculation in a spreadsheet can be set manually or automatically which is not possibly if we were to do this by a manual system. What spreadsheet offers the business? : Spreadsheets will offer the business a lot because it will be much easier and reliable than manual methods. Features such as being able to copy formulas, change data without redoing formulas or losing original figures, produce graphs and copy into other packages are just some reasons as to why my business will benefit from the use of spreadsheet programs. These programs will also be a great benefit to me personally seeing as I deal with the finances I will be able to do calculations much quicker than using manual methods i. e. calculators. I could also receive and give stock orders between the branches more easily by linking with the other branches via Internet or another networking system. Finally spreadsheets are a more accurate representation of real life unlike manual methods. This in affect means being able to view the data in forms of currency, weight, distance etc and also being able t print out this information for reference. Access: If you are going to run an organization like the one in hand then a database program will not be very help towards your purposes because it does not have the ability/function to work out in depth, sophisticated, long calculations which you the user will need to work out calculations e. g. wages, overtime, working hours, profits/losses. It is also hard to access and very complicated to use. However it does provide an easy access to every particular thing under any field. The table is accurate and neat and already created for you to use. It also prevents from time consuming in every area. Access is used for storing, sorting and being able to easily retrieve certain types of data, this type of software is used for compiling information on customers, items etc. and being able to track, change and even rearrange the data. Why not to use a Database: A database is a collection of related data items, which are linked and structured so that the data can be accessed. It is designed to hold information and extract the relevant information very quickly. This program is not fully designed to carry out calculations, which a spreadsheet can perform. Therefore both programs are highly specific in the type of jobs they are designed to do. Desktop publishing: This is used for designing templates and presentations, using colour, clipart, and photographs. In this application a mixture of word/writing and pictures or designs are used. This type of software is used mainly to layout newspapers or magazines and other presentations, it is also in use to design web pages.

Tuesday, January 21, 2020

Effects of Civil War Essay -- essays research papers

When a war occurs, it takes years for the society or societies involved to return to a more normal, calm state. In the case of the American Civil War, many aspects of the country were disrupted after the war ended in 1865. Relations were strained, land had been destroyed, families torn apart, and much more. The economy struggled, and many Southerners did not want to accept a loss. The death count for the American Civil War was also an amazing number, and made a large dent into families, businesses, and towns across the nation.   Ã‚  Ã‚  Ã‚  Ã‚  When examining the physical damage to the land after the end of the war, it was obvious that much of the country had been brutally trampled and scarred by the battles and rampages of the war. As troops had moved across areas, they had burnt many fields and homes in proof of their defiance against their enemies. Also, many cities, towns, and businesses had been set fire as the troops had captured and traveled through them. Many of these fires took lives, and often made making a fresh start and rebuilding seem like an impossible venture. The land that had been destroyed by these fires also was very tattered and would take many years to rehabilitate.   Ã‚  Ã‚  Ã‚  Ã‚  The countless buildings, homes, businesses and structures that had been torn down and broken apart, were definitely very discouraging matters for the citizens after the war ended. Many families had lost their homes to traveling troops during battles...

Sunday, January 12, 2020

Both Charlotte Perkins Gilman and Kate Chopin

Both Charlotte Perkins Gilman and Kate Chopin give the reader a taste of what marriage must have been like and is still like for some. Both the narrator in Gilman’s â€Å"The Yellow Wallpaper† and Mrs. Mallard in â€Å"Story of an Hour† are repressed wives. The society they live in and gender roles contribute to their repressed states. Both Chopin and Gilman write of women’s’ issues in many of their works and explore the roles and lives of women but in very different ways. Both authors show us women who feel very trapped and do not have control of even the most obvious aspects of their lives.Freedom is achieved in very unconventional ways in both these stories, but the kind of freedom these narrators achieve is not available to most women of the time. In Charlotte Perkins Gilman’s â€Å"The Yellow Wallpaper,† the narrator, who significantly is never named, is significantly repressed by her husband. Her husband is a doctor who is at bes t patronizing and at worst demeaning to her For example, â€Å"John laughs at me, of course, but one expects that in marriage† (Gilman). This quote is included to make the reader question this relationship.Were women supposed to be laughed at in marriage? Another example of this would be â€Å"Then he took me in his arms and called me a blessed little goose† (Gilman). Again, her husband is patronizing her. It is not that she doesn’t love her husband or even that he doesn’t love her. It is simply that this is the way marriage is expected to be. She must bend to his every whim and do exactly what he tells her. She doesn’t even have control of her own body or her own medical treatment in this story. Her husband is a man and a doctor, both of which make him â€Å"right.† The reader infers that the narrator has recently had a baby and is suffering from post-partum depression, which is undiagnosed at the time Gilman writes. Her husband John has ta ken her to a vacation home/mental health facility for the summer. She has no say in this decision but is only told to rest and recover. When she wants to go visit her cousins Henry and Julia, she is again turned down. Her husband really plays more of a parental role with her. Eventually she begins to peel the wallpaper to give her something to do, and she sees a woman trapped behind the wallpaper. This woman represents her.She is trapped in this house, in this life—only she has no one to help her escape. She sets about freeing this woman; only when she does, she suddenly becomes the woman. The narrator says, â€Å"I've got out at last,† said I, â€Å"in spite of you and Jane! And I've pulled off most of the paper, so you can't put me back! † (Gilman) Significantly, she has escaped although she has lost her sanity as well. Charlotte Perkins-Gilman herself tells us why she wrote this story, and that is to stop women from going crazy. Women need to free themselves from the bonds of men. In â€Å"Story of an Hour,† Kate Chopin’s narrator seems like a typical wife.Her husband has gone on a hunting trip, and when she gets news of his death, she is at first very sad. Then she begins to understand the ramifications of him being gone, the idea that she can now live for herself, and she celebrates. â€Å"She said it over and over under her breath: â€Å"free, free, free! † (Chopin) The narrator realizes exactly what her husband’s death means. â€Å"There would be no one to live for during those coming years; she would live for herself. There would be no powerful will bending hers in that blind persistence with which men and women believe they have a right to impose a private will upon a fellow-creature.† (Chopin) However, this celebration is brief because she then gets news that in fact, her husband is still alive. She dies of heart failure. Everyone believes that she has died from â€Å"the joy that kills,† (Chopin), but the reader knows that she has died over the unpleasant shock that her husband is still alive. Kate Chopin, of course, is implying for us that â€Å"real happiness cannot exist without the necessary conditions of freedom and equality. † While Mrs. Mallard has not been miserable in her marriage, nor did she spend her time thinking about whether her marriage was happy, she has now had a glimpse of what her life would be like alone.She loved the thought and was excited about facing life alone. The reader understands that while the narrator did not necessarily know it at the time, she was still repressed by her marriage and that constant bending of her will to another human being. Both of these authors provide us with a realistic picture of what marriage could and can be like. They are repressed and trapped in their relationships, but each author shows us a different way out. In Charlotte Perkins Gilman’s â€Å"The Yellow Wallpaper,† ironically the na rrator escapes through insanity.She frees the woman in the wallpaper, thereby freeing herself of societal expectations. In Kate Chopin’s â€Å"Story of an Hour,† the narrator first escapes through the death of her husband and then through her own death. It isn’t that she doesn’t love her husband. She does experience momentary grief, but through her grief and fear, she gets a glimpse of what her future could look like. She understands that she will finally be able to live for herself. So, when she finds out her husband is alive, she dies of a heart attack. How sad it is that these women can escape in no other ways.Both Gilman and Chopin were masters at allowing the reader to see the way that women were repressed in their society. We don’t hate the men; we just wish women did not have to be so subservient. Works Cited Chopin, Kate. â€Å"The Story of an Hour,† http://classiclit. about. com/library/bl- etexts/kchopin/bl-kchop-story. htm Esch, S tacy Tartar. http://brainstorm-services. com/wcu-2005/poe-story-hour. html 2001-2005. Accessed March 18, 2007. Gilman, Charlotte Perkins. â€Å"The Yellow Wallpaper,† http://classiclit. about. com/library/bl-etexts/cpgilman/bl-cpgilman-yellowwall. htm

Saturday, January 4, 2020

Oligopoly Market Structure - 2237 Words

Oligopoly Oligopoly is a market structure in which the number of sellers is small. Oligopoly requires strategic thinking, unlike perfect competition, monopoly, and monopolistic competition. †¢ Under perfect competition, monopoly, and monopolistic competition, a seller faces a well defined demand curve for its output, and should choose the quantity where MR=MC. The seller does not worry about how other sellers will react, because either the seller is negligibly small, or already a monopoly. Under oligopoly, a seller is big enough to affect the market. You must respond to your rivals’ choices, but your rivals are responding to your choices. †¢ In oligopoly markets, there is a tension between cooperation and self-interest. If all the†¦show more content†¦Jack does not care that Jill’s output is sold at a lower price. The price effect is smaller for duopoly than monopoly, and the quantity effect favors more output whenever price is above marginal cost. Therefore, the Nash equilibrium price will be closer to marginal cost than the monopoly price. The more firms in the oligopoly, the smaller the price effect will be, and the lower the Nash equilibrium price. When the number of firms approaches infinity, the price effect approaches zero. Therefore, each seller will increase output whenever the price is above marginal cost. In the limit, we have the perfectly competitive price, and the socially efficient quantity. A Brief Introduction to Game Theory Game Theory can be used to study oligopoly games other than the â€Å"quantity competition† game played by Jack and Jill, as well as arms races, voting games, bargaining games, and so on. A Game is defined to be: †¢ A set of players †¢ A set of possible strategies for each player, †¢ A payoff or outcome function that assigns payoffs to each player for each combination of strategies (one strategy for each player). The Prisoners’ Dilemma Bonnie and Clyde are caught with illegal weapons (1 year sentence), but are suspected of bank robbery. Interrogated in separate rooms. If both remain silent, one year each. If one confesses, and testifies against the other, he or she will get immunity and the other gets 20 years. 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It offers exceptionally high quality products and services. In addition to its services, it is committed in its work, enabling it to acquire world-class attention and everybody interested to know more about it and also experience