Samenvatting Managerial Economics

chapter 1. introduction to managerial economics 1. what is managerial economics? Managerial economics = the science of directing scarce resources to manage effectively > each needs to understand how they can influence the demand through price and advertising, what is the best organizational architecture and how to compete Differences between ‘new’ and ‘old’ economy * Network effects in demand = the benefit provided to any user depends on the total number of other users * Scalability = the degree to which the scale and scope of business can be increased without a corresponding increase in costs Public good = one person’s consumption does not reduce the quantity available to others Branches Managerial economics: * Competitive markets * Market power * Imperfect markets 2. preliminaries scope (omvang) Microeconomics = the study of individual economic behavior where resources are costly > how consumers respond to changes in prices and income, †¦ Manag erial economics more limited scope = it is the application of microeconomics to managerial issues Macroeconomics = focuses on aggregate economic variables considers economic aggregates directly rather than as the aggregation of individual consumers and businesses methodology Fundamental premise = individuals share common motivations that lead them to behave systematically in making economic choices > a person who faces the same choices at two different times will behave in the same way at both times > it is systematic so it can be studied Economic model = a concise description of behavior and outcomes = abstraction Models are constructed by inductive reasoning > afterwards, the model should be tested arginal vis-a-vis average Marginal value = the change in the variable associated with a unit increase in a driver Average value = total value of the variable divided by the total quantity of a driver > relation between the marginal and average values depends on whether the average value is decreasing, constant or increasing with respect to the driver Stocks and flows Stock = quantity at a specific point in time Flow = the change in a stock over some period of time > measured in units per time period other things equal = an approach to simplify the problem by analyzing each change separately, holding other things equal . timing Two types of models * Static models = describe behavior at a single point of time, disregard differences in the sequences of actions and payments > model of competitive markets, analysis of organizational architecture * Dynamic models = focus on the timing and sequence of actions and payments = receipts and expenditures often occur at different times discounting Investments = using resources at some times in order to receive benefits at other times > discount future values to that they can be compared with the present Net present value the sum of the discounted values of a series of inflows and outflows over time = represents the current val uation of a flow of dollars time Internal rate of return = alternative for the net present value without using the discount rate 4. organization organizational boundaries Vertical boundaries = delineates activities closer to or further from the end user Horizontal boundaries = defined by its scale and scope of operations * Scale = rate of production or delivery of a good or service * Scope = refers to the range of different items produced or delivered individual behavior businesses are managed by individuals and their interests may diverge from those of the organization > managers are subject to bounded rationality Standard assumption = people make decisions rationally = individuals choose the alternative that gives them the greatest difference between value and cost > their behavior will follow some predictable patterns based on what they judge to be in their best interest People do not always behave rationally > reason: bounded rationality = people have limited cognitive bilities and cannot fully exercise self-control = people adopt simplified rules for decision-making * Separate accounting for different categories of benefits and cost * Lack self-control = addictive behavior and difficulty postponing immediate gratification for longer-term benefits. * More sensitive to loss than to gain = risk averse * Decisions may depend on how choices are framed Two implications: * Individuals will be relatively sluggish in responding to changes in business and economic conditions * Role for managerial economics is larger . markets Market = consists of the buyers and sellers that communicate with one another for voluntary exchange > not limited to any physical structure of particular location * Markets for consumer products = buyers are households and sellers are businesses * Markets for industrial products = buyers and sellers are businesses * Markets for human resources = buyers are businesses and sellers are households Industry = businesses engaged in the production o f delivery of the same or similar items competitive markets = markets with many buyers and many sellers Buyers provide the demand and sellers provide the supply demand-supply model = describes the systematic effect of changes in prices and other economic variables on buyers and sellers >describes the interaction of these choices market power Key variables: * Prices * Scale of operations * Input mix = determined by market forces Market power = ability of a buyer or seller to influence market conditions A business with market power must determine its horizontal boundaries = depends on how its costs vary with the scale and scope of operations Four key tools in managing demand: 1. Price 2. Advertising 3.Policy toward competitors 4. R&D expenditure Imperfect markets Imperfect Market = when one party directly conveys a benefit or cost to others and where one party has better information than others > managers need to resolve the imperfection 6. global integration Price in one local market will be independent of prices in other local markets > some markets are global because the costs of communication and trade are relatively low = the prince in one place will move together with the prices elsewhere > whether a market is local or global, same managerial economics principles ommunications costs and trade = with developments in technology and deregulation Transport: * air transport liberalization * containerization of surface transport. Telecommunications: * de-regulation. * scale economies in bandwidth. Growth of cross-border trade and investment: * falling trade barriers. * falling financial barriers. * falling communications cost managers have to pay increasing attention to markets in other places outsoarcing = the purchase of services or supplies from external sources > external sources could be within the same country or foreign E-commerce Limitations: * Payments system Trade barriers * Shipment costs part 1: competitive markets chapter 2. demand 2. individual dem and Individual demand curve = a graph that shows the quantity that the buyer will purchase at every possible price construction = other things equal, how many would you buy at a price of – – ? > important to keep other things equal there the decision may depend on other factors * Vertical axis is the price * Horizontal axis is the quantity Two views: * For every possible price, demand curve shows the quantity demanded * For each unit of item, demand curve shows the maximum price that the buyer is willing to pay slope at a lower price, buyers are willing to buy a larger quantity Marginal benefit = the benefit provided by an additional unit of the item Diminishing marginal benefit = each additional unit of consumption or usage provides less benefit than the preceding unit > the price that an individual is willing to pay will decrease with the quantity purchased preferences Two implications: * The demand curve will change with changes in the consumer’s preferences * Different consumers may have different preferences and hence different demand curves 3. emand and income Demand curve does not explicitly display the effect of changes in income and other factors that affect demand income changes = effect of a change in income on the demand curve is very different from that of a change in price > if income drops = demand curve shifts to the left * Change in price = movement along the demand curve * Change in income or any factor other than the price = shift in the entire demand curve normal vis-a-vis inferior products Normal product = positively related to changes in the buyer’s income Inferior product negatively related to changes in the buyer’s income >demand falls as the buyer’s income increases Broad categories of products = tend to be normal Particular products within the categories = may be inferior 4. other factors in demand = prices of related products, advertising, durability, season, weather and location complements and substitutes Complements = if an increase in the price of one causes the demand for the other to fall Substitutes = if an increase in the price of one causes the demand for the other to increaseShift to the left: * Increase in the price of a complement * Fall in the price of a substitute Shift to the right * Increase in the price of a substitute * Fall in the price of a complement advertising Informative advertising = communicates information to potential buyers and sellers Persuasive advertising = aims to influence consumer choice An increase in advertising expenditure will increase demand > each additional dollar spent on advertising has a relatively smaller effect on demand = diminishing marginal productEffect of advertising on demand depends on the medium durable goods = provide a stream of services over an extended period of time > buyers have discretion over the timing of purchase Three significant factors for demand: 1. Expectations about future prices and incomes 2. Inter est rates = many buyers need to finance their purchase of durable goods > if interest rates are low the demand for durables will be higher 3. Price of used models = substitutes of a new model 5. market demand Market demand curve graph that shows the quantity that all buyers will purchase at every possible price = analysis is essentially similar to that for an individual demand curve construction = interview all the potential consumers and ask each person the quantity that he er she would buy at every possible price = horizontal summation of the individual demand curves = slopes downwards since the individual demand curves slope downwards other factors = buyers’ income, price of related products, advertising > changes in these factors will shift the entire market demand curveTwo ways of measuring income of country: * The gross national product (GNP) = GDP + net income from foreign sources * The gross domestic product (GDP) = measure the total amount produced in a country for a given year Macro factors: * Income = average, distribution * Demographic = population, age structure, urban-rural * Cultural-social income distribution = the more uneven the distribution of income, the more important it is to consider the actual distribution of in income and not merely the average income when estimating the market demand 6. buyer surplus benefit Marginal benefit maximum amount of money that the buyer is willing to pay for the unit Total benefit = benefit yielded by all the units that the buyer purchases benefit vias-a-vis price Buyer surplus = difference between a buyer’s total benefit from some quantity of purchase and the actual expenditure > a buyer must get some surplus, otherwise he or she will not buy = maximum that a seller can charge is the buyer’s total benefit price changes Gains from a pricecut: * Lower price on the quantity that she would have purchased at the original price = infra marginal units She can buy more = marginal units > extent depends on the buyer’s response to the price reduction = the greater the increase in purchase, the larger the buyer’s gain from the price reduction = when you have to calculate how much you gain from a price cut, always look at the demand curve and see how much you buy at the old price and how much at the new price and calculate the buyers surplus package deals and two-part pricing Package deals = charge buyer just a little less than her/his total benefit = leave buyer with almost zero surplusTwo-art pricing = pricing scheme comprising a fixed payment and a charge based on usage = enables to soak up most of the consumer’s buyer surplus Market buyer surplus = sum of individual buyer surpluses 7. business demand inputs Businesses do not purchase goods and services for their own sake > use them as inputs in the production of other goods and services = use inputs to produce outputs for sale to consumers or other businesses * finished/semi-finished components â€⠀œ. * raw materials and energy. * labor and other services. capital. Demand Demand for inputs depend on: * quantity of final output = shift of the entire demand curve * prices of complements or substitutes in production Marginal benefit = the increase in revenue arising from an additional unit of the input > diminishing marginal benefit = downward sloping demand curve for inputs chapter 3. elasticity 1. introduction Elesticity of demand = measures the responsiveness of demand to changes in an underlying factor (price, income, advertising) Own-price elasticity of demand measures the responsiveness of the quantity demanded to changes in the price of the item 2. own-price elasticity = percentage by which the quantity demanded will change if the price of the item rises by 1% Percentage change in quantity demanded Percentage change in price construction Two ways of deriving: * arc approach = we collect records of a price change and the corresponding change in quantity demanded > own-pric e elasticity as the ratio of the proportionate change in quantity demanded to the proportionate change in price can also be calculated by changing p0 by the average price ((old price + new price)/2) and by changing q0 by the average quantity ((old quantity + new quantity)/2) * point approach = can be derived from the coefficient of price in the equation = calculates the elasticity at a specific point on the demand curve – arc approach: elasticity between two points properties Characteristics: * It’s a negative number * A pure number, independent of units of measure * Ranges from 0 to negative infinity Price elastic if a 1% increase in price leads to more than a 1% drop in quantity demand = if a price increase causes a proportionately larger drop in quantity demanded Price inelastic = if a 1% price increase causes less than 1% drop in quantity demand intuitive factors Availability of direct or indirect substitutes = the fewer substitutes that are available, the less ela stic will be the demand > Demand for a product category will be relatively less elastic than demand for specific products within the category = there are fewer substitutes for the category than for specific products Buyer’s prior commitments Learning * Complementary purchases (spare parts, upgrades, †¦) * Taste = demand less elastic Benefits/costs of economizing = buyers have limited time to spend on searching for better prices > they focus attention on items that account for relatively larger expenditures > separation of buyer and payee elasticity and slope Own price elasticity = describes the shape of only one portion of the demand curve > a change in price, by moving from one part of a demand curve to another part, may lead to a change in own-price elasticity Straight line demand curve demand becomes more elastic at higher prices > incase of other shapes, demand may become less elastic at higher prices Steeper demand curve means demand less elastic = but elasticity is not the same as the slope > slope stays the same, the own-price elasticity varies throughout the length causes by the changes in price and quantity Own-price elasticity can also vary with changes in any of the other factors that affect demand = in that case, demand curve will shift > own-price elasticity may also change 3. forecasting quantity demanded and expenditure expenditure change in price will affect expenditure through the price itself as well as through the related effect on quantity demanded Change in quantity demanded = price elasticity x change in price If demand elastic, price increase leads to * proportionately greater reduction in purchases. * lower expenditure. If demand inelastic, price increase leads to * proportionately smaller reduction in purchases. * higher expenditure. accuracy Discrepancy = the own-price elasticity may vary along a demand curve > the forecast using the own-price elasticity will not be as precise as a forecast directly from the demand curve . other elasticities income elasticity = measures the sensitivity of demand to changes in buyers’ income = percentage by which the demand will change if the buyer’s income rises by 1 % Percentage change in demand percentage change in income = varies with changes in the price and any other factor that affects demand * Depending on whether the product is normal or inferior, income elasticity can be positive or negative * Demand for necessities tends to be relatively less income elastic than the demand for discretionary items cross-price elasticity measures the sensitivity of demand to changes in the prices of related products = percentage by which the demand will change if the price of the other item rises by 1%, other things equal Substitutes = an increase in the price of one will increase the demand for the other = cross-price elasticity positive Complements = an increase in the price of one will reduce the demand for the other = cross-price elasticity negative advertis ing elasticity measures the sensitivity of demand to changes in the sellers’ advertising expenditure = percentage by which the demand will change if the sellers’ advertising expenditure rises by 1%, other things equal > price of the item must remain unchanged > has a much stronger effect on the sales of an individual seller than on the market demand = advertising elasticity of the demand faced by an individual seller tends to be larger than the advertising elasticity of the market demand forecasting the effects of multiple factorsOnly way to discern the net effect of factors pushing in different directions = use the elasticities with respect to each of the variables Percentage change in demand due to changes in multiple factors is the sum of the percentage changes due to each separate factor 5. adjustment time The short run = a time horizon within which a buyer cannot adjust at least one item of consumption or usage The long run = a time horizon long enough for buyers to adjust all items of consumption of usage nondurables the longer the time that buyers have to adjust, the bigger will be the response to a price change > demand for such items will be more elastic in the long run than in the short run Alcohol and tabacco = demand relatively inelastic > discouraging new people from taking up smoking and drinking = demand relatively more elastic in the long run durables = a countervailing effect leads demand to be relatively more elastic in the short run > especially strong for changes in income = drop in income will cause demand to fall more sharply in the short run than in the long runDifference between short- and long-run elasticities = depends on a balance between the need for time to adjust and the replacement frequency effect 6. estimating elasticities data Two sources of data: * Records of pas experiences * Surveys and experiments specifically designed to discover buyers’ preferences > test market Collection in two ways: * Focus on a p articular group of buyers and observe how their demand changes as the factors affecting demand vary over time = time series Compare the quantities purchased in markets with different values of the factors affecting demand = cross section specification To obtain accurate estimates of elasticities = specify all the factors that have a significant effect on demand > specify the mathematical relationship between demand and the various factors Dependent variable = whose changes are to be explained Independent variable = a factor affecting the dependent variable = linear equation in which the dependent variable is equal to a constant plus the weighted sum of the independent variables ultiple regression = can estimate the separate effect of each independent variable on the dependent variable = aims to determine values for the constant and the coefficients Residual = the actual value of the dependent variable minus the predicted value Method of least squares = based on the view that positiv e residuals are as bad as negative residuals while large residuals are disproportionately bad > seeks a set of estimates for the constant and the coefficients to minimize the sum of the squares of the residuals since equally large positive and negative residuals have identical squares, the method treats them identically statistical significance F statistic = measures the overall significance of the independent variables > assumption that there are is no relationship between the dependent variable and the set of independent variables > ranges from 0 to infinity R? = uses the squared residuals to measure the extent to which the independent variables account for the variation of the dependent variable > ranges from 0 to 1 1 means that all the residuals are exactly 0 T-statistic = used to evaluate the significance of a particular independent variable = estimated value of the coefficient divided by the standard error > ranges from negative to positive infinity P value = measures the like lihood that estimated coefficient could be the result of chance under the assumption that the true coefficient is zero = gives the probability that random sampling errors could produce a coefficient as large as found by the least-squares multiple regression model chapter 4. supply . short-run costs Two key decisions: * Continue in operation * Rate at which to operate = depend on the length of the time horizon Short run = time horizon in which a seller cannot adjust at least one input > business must work within the constraints of past commitments Long run = time horizon long enough for the seller to adjust all inputs Difference between both depends on the circumstances fixed vis-a-vis variable costs Fixed cost = cost of inputs that do not change with the production rate > the height of the total cost curve at the zero production rate Variable cost cost of inputs that change with the production rate > to distinguish between fixed and variable costs, a business must analyze how each c ategory of expense varies with changes in the scale of operation Total cost = the sum of fixed cost and variable cost C = F + V Marginal cost = the change in total cost due to the production of an additional unit Average cost = total cost divided by the production rate = unit cost Cq = Fq + Vq > continues to fall with increases in the production rate until it reaches a minimum, thereafter it increases with the production rate the average cost is the average fixed cost plus the average variable cost > if the production rate is higher the fixed cost will be spread over more units Marginal product = increase in output arising from an additional unit of an input > diminishing = the average variable cost will increase with the production rate Where the average variable cost is increasing the relationship between the average cost and the production rate depends on the balance between the declining average fixed cost and the increasing average cost Diminishing marginal product causes margi nal and average cost to rise echnology Two implications: * The curves will change with adjustments in the seller’s technology * Different sellers may have different technologies and hence different cost curves 3. short-run individual supply Assumptions * profit maximization * Business is so small relative to the market that it can sell as much as it would like at the going market price production rate Total revenue = price multiplied by sales Marginal revenue = the change in total revenue arising from selling an additional unit To maximize profit, a business should produce at that rate where its marginal revenue equals its marginal costMarginal revenue is represented by the slope of the total revenue line * Wherever the marginal revenue exceeds the marginal cost, the profit can be raised by increasing production * Wherever the marginal revenue is less than the marginal cost, Luna can raise profit by reducing production break even To decide whether to continue production, the business needs to compare the profit from continuing in production with the profit of shutting down Fixed cost = sunk cost = it has been committed and cannot be avoided > even if the business shuts down, it must still pay the fixed cost F Business should continue production whenR – V – F > – F = R > V P > V/q > R = p x q = short-run break even condition > a business maximizes profit by producing at the rate where the marginal cost equals the price, provided that the price covers the average variable cost individual supply curve Individual supply curve = a graph showing the quantity that one seller will supply at every possible price > for every possible price, a business should produce at the rate that balances it marginal cost with the price Slopes upward = if the seller is to expand production, then it will incur a higher marginal cost Input demandChange in input price: * Shift in marginal cost * Change in profit-maximizing production 4. long-run individual su pply = contracts expire and investments wear out > all inputs become avoidable long-run costs = long-run average cost curve is lower and has a gentler slope > in the long run, the seller has more flexibility in adjusting inputs to changes in the production rate = it can produce at a relatively lower cost than in the short run, when one or more inputs cannot be changed production rate = a rate where its marginal cost equals the price of its output reak even = in the long run, a business should continue in production if the maximum profit from continuing in production is at least as large as the profit from shutting down All costs are avoidable = it the business shuts down, it will incur no costs and so its profit from shutting down is nothing R > C P > C/q = business should continue in production so long as total revenue covers total cost individual supply curve = that part of its long-run marginal cost curve, which lies above its long-run average cost curve Two views: * For every po ssible price, it shows the production rate For each unit of item, it shows the minimum price that the seller is willing to accept 5. market supply Market supply curve = a graph showing the quantity that the market will supply at every possible price = sum of the quantities supplied by each individual seller short run Market supply curve = begins with the seller that has the lowest average variable cost Change in an input price will affect the seller’s marginal cost at all production levels > shift the entire market supply curve * Increase in price of an input will shift the market supply up * Reduction in price of an input will shift the market supply down long run every business will have completely flexibility in deciding on inputs and production > freedom of entry and exit is the key difference between the short run and long run Sellers that cannot cover their total costs will leave the industry until all the remaining sellers break even > an industry where businesses van make profits will attract new entrants = market supply will rise and pushes down the market price hence the profit will drop Quantity supplied will adjust in two ways when there’s a change in price: * All existing sellers will adjust their quantities supplied along their individual supply curves * Some sellers may enter or leave the market Graph = slope is more gentler and may be flat 6. seller surplus price vis-a-vis marginal cost Seller surplus difference between a seller’s revenue from some quantity of production and the minimum amount necessary to induce the seller to produce that quantity > short-run seller surplus can also be defined as the difference between the seller’s revenue and the variable cost Short-run seller surplus = total revenue less variable cost Long-run seller surplus = total revenue less total cost purchasing = a buyer can apply the concept of seller surplus to reduce the cost of its purchases market seller surplus = sum of the individual seller surpluses = difference between the market revenue from some production rate and the minimum amount necessary for the market to produce that quantity 7. elasticity of supply measures the responsiveness of supply to changes in underlying factors such as the price of the item and inputs price elasticity = measures the responsiveness of the quantity supplied to changes in the price of the item = percentage by which the quantity supplied will change if the price of the item rises by 1%, other things equal Percentage change in quantity supplied Percentage change in price properties * Pure number * Positive number intuitive factors Intuitive factors: * Capacity utilization > a seller that has consiverable excess capacity will step up production in response to even a small increase in price = individual supply will be relatively elastic * Adjustment time long-run supply is relatively more elastic than the short-run supply chapter 5. competitive markets 2. perfect competition Five con ditions: 1. The product is homogeneous 2. There are many buyers, each of whom purchases a quantity that is small relative to the market 3. There many sellers, each of whom supplies a quantity that is small relative to the market 4. New buyers and sellers can enter freely, and existing buyers and sellers can exit freely 5. All buyers and sellers have symmetric information about market conditions homogeneous product = the product is always the same > competition is stronger many small buyers = no buyer can get a lower price than others > all buyers face the same price all buyers compete on the same level playing field When some buyers have market power it is not possible to construct a market demand curve many small sellers = no seller has market power > no seller can get a higher price than other free entry and exit = no technological, legal or regulatory barriers constrain entry or exit > the market price cannot stay above a seller’s average cost for very long > degree of com petition also depends on barriers to exit = it must consider the exit cost when deciding whether to enter the market symmetric information = no seller can enjoy the privilege of secret information 3. market equilibrium the price at which the quantity demanded equals the quantity supplied > when market out of equilibrium, market forces pushes price towards equilibrium demand and supply At the market equilibrium, there is no tendency for price, purchases or sales to change excess supply Not in equilibrium = market price will tend to change in such a way as to restore equilibrium Excess supply = the amount by which the quantity supplied exceeds the quantity demanded > suppliers would compete to clear their extra capacity and the market price would drop back toward the equilibrium excess demand = the amount by which the quantity demanded exceeds the quantity supplied > when the price is below the equilibrium level buyers would compete for the limited capacity significance of equilibrium Two reasons: * If a market is not in equilibrium, either buyers or sellers will push the market toward equilibrium * By comparing equilibria we can address a wide range of questions > when prices are quite flexible, the market will adjust to the new equilibrium fairly quickly, so comparing equilibria is a fairly accurate method of analysis Neither buyers nor sellers may face rationing 4. supply shift equilibrium change When price of input falls >entire supply curve shifts down = at every possible sellers want to supply more price elasticitiesDownward or upward shift in the supply curve will change the equilibrium price by no more than the amount of the supply shift > change in equilibrium price depends on the price elasticities of demand and supply Inelastic demand = buyers are completely insensitive to the price > when supply curve shifts, the buyers do not change their behavior = they continue to purchase exactly the same quantity Elastic demand = buyers are extremely sensitive t o price > equilibrium price does not change at all If the demand is more elastic then the change in the equilibrium price result from a shift in supply will be smaller Inelastic supply = sellers are completely insensitive to the price > if their costs change they will not change the quantity supplied Elastic supply if the cost of an input changes, the marginal cost changes by the same amount at all production levels common misconception = if sellers’ costs fall by some amount, then the market price will fall by the same amount Overlooks the impact of: * The shift in supply on buyers = if they are very sensitive to price, the shift in supply would result in no change to the equilibrium price * The price sensitivity of sellers = if sellers are insensitive to price, then the drop in cost will not induce them to sell more Price change * Smaller if demand is more elastic than supply * Bigger if supply is more elastic than demand 5. demand shiftDemand shifts down (left) > new equil ibrium with lower price and lower quantity Demand shifts up (right) > new equilibrium with higher price and higher quantity 6. adjustment time short-run equilibrium = point where its short-run marginal cost equals the marketprice long-run equilibrium = the point where its long-run marginal cost equals the market price demand increase Short-run equilibrium = the extent to which a seller expands its operations depends on the slope of its short-run marginal cost curve > if steep then the price increase will not lead the seller to expand operations by very much Long-run equilibrium = there is enough time for all costs to become avoidable, for new sellers to enter the market and for existing sellers to leaveThe increase in demand raises the market price and hence each seller’s profit = will attract new sellers to enter the market Although the price is higher than in the original equilibrium, higher input prices result in higher marginal and average cost curves > in the new long-ru n equilibrium, each individual seller just breaks even demand reduction Extent of cutback depends on two factors: * Extent of sunk costs = in an industry involving substantial sunk costs, the reduction in demand will translate into a relatively large drop in price and a small reduction in quantity * Slope of the seller’s short-run marginal cost curve in the new long-run equilibrium there will be a smaller number of sellers and each will exactly break even with average total costs equal to the market price price and quantity over time Two general points: * In response to shifts in demand = market price will be more volatile in the short run than the long run * In response to shifts in demand = there is a greater change in the market quantity over the long run than in the hort run In industries with substantial sunk costs the adjustment of production will be concentrated in the long run In industries where costs are minor the adjustment to shifts in demand will be relatively sm oother > the market price will be relatively less volatile chapter 6. conomic efficiency 2. conditions for economic efficiency Economically efficient = if no reallocation of resources can make one person better off without making another person worse off > persons may be human beings or businesses sufficient conditions Three sufficient conditions based on users’ benefits and supplier’s costs 1. All users achieve the same marginal benefit 2. All suppliers operate at the same marginal cost 3. Every user’s marginal benefit is equal to every supplier’s marginal cost Equal marginal benefit If not equal: * Provide more to user with higher marginal benefit * Take away from user with lower marginal benefit society as a whole would be better off Equal marginal cost If not equal: * Supplier with lower marginal cost should produce more * Supplier with higher marginal cost should produce less Marginal benefit equals marginal cost If not equal: * If MO > MC , produce more of the item * If MO < MC, produce less of the item philosophical basis Technical efficiency = providing an item at the minimum possible cost > does not imply that scarce resources are being well used The concept of economic efficiency extends beyond technical efficiency Economic efficiency assesses resource allocations in terms of each individual user’s evaluation of the benefit internal organization production will be efficient if all users achieve the same marginal benefit, all suppliers operate at the same marginal cost and every user’s marginal benefit balances every supplier’s marginal cost 3. adam smith’s invisible hand Invisible hand = market price guides buyers and sellers, acting independently and selfishly to channel scarce resources into economically efficient uses competitive market = satisfies all three requirements for economic efficiency market system = an economic system in which resources are allocated through the independent decisio ns of buyers and sellers, guided by freely moving prices Price performs two roles: * It communicates all the necessary information It provides a concrete incentive for each buyer to purchase the quantity that balances marginal benefit with the market price > it provides a concrete incentive for every seller to supply the quantity that balances marginal cost with the market price 4. decentralized management internal market Transfer price = price charged for the sale of an item within an organization > should set it equal to market price = by decentralizing the management is establishing an internal market that is integrated with the external market implementation Two general rules: * If there is a competitive market for the item, the transfer price should be set equal to the market price * Producing units should be allowed to sell the product outside buyers and consuming units should be allowed to buy the product from external sources Outsoarcing = purchase of services or supplies fr om external sourcesAny organization that used resources or products for which there are competitive markets can apply decentralization to achieve internal economic efficiency 5 incidence = both pricing methods have exactly the same impact on the manufacturer and customer freight inclusive pricing Cost and freight = a price that includes freight Ex-works pricing = does not include the freight cost > entire supply supply curve will shift down = with ex-works demand, the buyers will now have to pay the freight cost > price is lower = total price is equal if you increase the price with the freight cost Price and sales are the same whether the sellers do or do not include the freight cost in their prices incidence the change in the price for a buyer or seller resulting from a shift in demand or supply > whether manufacturers set prices that do or do not include the feight cost, the incidence is the same = the incidence does not depend on which side initially pays the freight cost > depen ds only on the price elasticities of demand and supply taxes = government depend on tax revenues to support public services such as national defense, †¦ > some are levied on consumers, others on businesses buyer’s vis-a-vis seller’s price Seller’s price = buyer’s price – tax Buyer’s price = price that buyers pay Seller’s price = price that sellers receive > p156 tax incidence buyer’s price will rise by less than the amount of the tax and the seller’s price will drop by less than the amount of the tax > tax is generally shared between buyers and sellers according to their relatively price elasticities * Less sensitive = will bear the relatively larger portion of the tax part II market power chapter 7. costs 2. economies of scale = analyze how costs depend on the scale or rate of production > decision on scale also depends on market demand and competition Fixed cost = cost of inputs that do not change with the product ion rate Variable cost = cost of inputs that change with the production rate marginal and average costsMarginal cost = rate of change of the variable cost > if average variable cost remains constant, then the marginal cost will be the same Economies of scale = increasing returns to scale = a business for which the average cost decreases with the scale of production > marginal cost will be lower than the average cost = since the marginal unit of production costs less than the average, any increase in production will reduce the average intuitive factors Two possible sources: * Substantial fixed inputs = at a larger scale, the cost of the fixed inputs will be spread over more units of production business with a strong element of composition, design or invention * If the average variable cost falls with the scale of production = whether the average variable cost increases or falls depends on the particular technology of the business diseconomies of scale = a business where the average c ost increases with the scale of production If: * Fixed cost is not substantial * And variable cost rises more than proportionately with the scale of production strategic implications If economies of scope: * Large scale * Market concentrated, few suppliers * Monopoly and oligopoly If diseconomies of scope * Small scale * Market fragmented * Perfect competition 3. economies of scope if the total cost of production is lower when two products are produced together than when they are produced separately Diseconomies of scope = if the total cost of production is higher when two products are produced together joint cost = cost of inputs that do not change with the scope of production strategic implications Example: telecommunication and broadcasting Produce/deliver multiple products * Product mix * Brand extension Core competence = a generalized expertise in the design, production and marketing of products based on common or closely related technologies = joint cost diseconomies of scope = if the total cost of production is higher when the two items are produced together than when they are produced separately arise where the joint costs are not significant and making one product increases the cost of making the other in the same facility 4. experience curve Accumulated experience = matters in industries characterized by relatively short production runs and a relatively substantial input of human resources As engineers and workers gain experience in production, they become more proficient individually and as a team > they devise new ways to reduce cost, including better tools and more cost-effective procedures Experience curve = shows how the unit cost of production falls with cumulative production over time > Distinguish from economies of scope within one production period Conditions: Relatively large human resources input per unit of production * Relatively small production runs 5. opportunity cost = it is necessary to look beyond the conventional accounting statem ents Relevance = key principle = managers should consider only relevant costs and ignore others alternative courses of action = to evaluate a business > conventional income statement does not present the revenues and costs of the alternative courses of action = costs are actually higher because of the opportunity cost opportunity cost defined Opportunity cost = net revenue from the best alternative course of action uncovering relevant costs Two ways to uncover relevant costs: Consider the alternative courses of action * Use the concept of opportunity cost = both approaches lead to the same business decision Alternative courses of action and opportunity cists change with the circumstances and hence are more difficult to measure and verify opportunity cost of capital A business that is partly financed by debs will appear to be less profitable than an otherwise identical business that is completely financed by equity > equity capital is not costless! = it has an opportunity cost Econom ic value added = net operation profit after tax subject to adjustments for accounting conventions less a charge for the cost of capital they are less likely to be biased in favor of capitalintensive activities A complete measure of business e performance should take account of the opportunity cost of equity capital 6. transfer pricing Transfer price = transfer price of an internally produced input should be set equal to its marginal cost perfectly competitive market Transfer price = market price full capacity = marginal cost of the input is not well defined > transfer price should be set equal to the opportunity cost of the input which is the marginal benefit that the input provides to the current user = compare marginal benefit across internal users 7. sunk costs a cost that has been committed and so cannot be avoided > not relevant to business decisions alternative courses of action Depend on: * Prior commitments * Planning horizon Continue | Cancel | Cont. margin | $280,000 | $0 | Advert agency | $50,000 | $50,000 | Magazine | $250,000 | $50,000 | Profit | ($20,000) | ($100,000) | Continue | Cont. margin | $280,000 | Advert agency | $0 | Magazine | $200,000 | Profit | $80,000 | = only avoidable costs strategic implications = managers should ignore sunk costs and consider only avoidable costs > sunk costs are not relevant for pricing, investment, or any other business decision Two ways of dealing with sunk costs: Explicitly consider the alternative courses of action * Remove all sunk costs from the income statement = both approaches lead to the same business decision > it is easier to consider the alternative courses of action explicitly when multiple alternatives commitments and the planning horizon To identify sunk costs consider: * Past commitments * Planning horizon The longer the planning horizon, the more time there will be for past commitments to unwind and hence the greater will be management’s freedom of action Short-run planning horizon = so me sunk costs Long-run horizon = no sunk cost Sunk vis-a-vis fixed costs Fixed cost two different senses: A cost that cannot be avoided once incurred * A cost of inputs that do not change with the production rate = two types of costs have very different implications for business decisions Not all sunk costs are fixed = cost op public service employees is sunk, once they secure tenure. However, government could have hired only temporary workers (no sunk costs) 8. statistical methods multipple regression = to investigate the extent of fixed costs and economies of scale forecasting = to forecast the dependent variable when the independent variables take different values Other applications Investigate the presence of joint costs across two products hapter 8. Monopoly 1. Introduction Monopoly = if there is only one seller in a market Monopsony = if there is only one buyer in a market 2. sources of market power = the barriers that deter or prevent entry by other competing sellers/buyers m onopoly Unique resource = access to unique physical, natural or human resources Intellectual property = property over inventions or expressions Patent = gives the owner an exclusive right to the invention for a specified period of time Copyright = establishes property in published expressions, including computer software and engineering drawings Economies of scale and scope Product differentiation differentiating itself from competitors > through product design, distribution, and advertising and promotion Regulation = government may decide to award an exclusive franchise to one provider > government hopes to avoid duplication and reduce the cost of the service monopsy = same factors as a monopoly Additional reason for presence = existence of a monopoly > a seller that has a monopoly over some good or service is also likely to have market power over the inputs into that item 3. Monopoly pricing Monopoly has to consider how its sales will affect the market price Given the market deman d curve a monopoly can Set the price and let the market determine how much it will buy * Decide how much to sell and let he market determine the price at which it is willing to buy that quantity Monopoly is choosing a combination of price and sales off the demand curve > a monopoly can set either the price or sales but not both revenue Inframarginal units = those other than the marginal unit Marginal revenue from selling an additional unit will be less than the price of that unit = marginal revenue is the price of the marginal unit minus the loss of revenue on the inframarginal units > difference between the price and the marginal revenue depends on the price elasticity * Demand elastic = seller need not reduce the price very much to increase sales > marginal revenue will be close to the price * Demand inelastic seller must reduce the price substantially to increase sales > marginal revenue will be much lower than price Marginal revenue can be negative = if the loss of revenue on th e inframarginal units exceeds the fain on the marginal unit Profit maximizing price Profit maximizing scale of operation = the scale at which the marginal revenue balances the marginal cost Contribution margin = total revenue less the variable cost > a seller maximizes profit by operating at a scale where the sale of an additional unit will result in no change to the contribution margin economic inefficiency Marginal benefit exceeds the marginal cost 4. demand and cost changes Change in demand: * New marginal revenue * Original marginal cost = new profit-maximizing sales and price arginal cost change = change in price is less than change in marginal cost When there is a change in either demand or cost, the extent to which a monopoly should adjust its price depends on the shapes of both it marginal revenue and marginal cost curves > it should adjust the price until its marginal revenue equals its marginal cost fixed cost change = profit-maximizing price and scale do not depend in any way on the fixed cost > changes in the fixed cost will not affect the marginal cost curve If the fixed cost is so large that the total cost exceeds total revenue, then the monopoly will prefer to shut down 5. advertising Promotion the set of marketing activities that a business undertakes to communicate with its customers and sell its products > advertising, sales promotion and public relations benefit of advertising Advertising can cause: * Shifting out the demand curve * Demand to be less elastic Benefit of advertising = change in the contribution margin Net benefit = the change in the contribution margin less the advertising expenditure > advertise up to the point that the increase in contribution margin from an additional dollar of advertising is exactly 1 $ = more appropriate to consider the effect of advertising on the contribution margin generated by the product dvertising-sales ratio Incremental margin = price less the marginal cost = increase in the contribution margin fro m selling an additional unit, holding the price constant Incremental marginal percentage = ratio of the price less the marginal cost to the price > measures the production of benefit by each dollar of advertising Advertising-sales ratio = incremental margin multiplied by the advertising elasticity of demand = says how much of the revenue should be invested in advertising 6. research and development = principles are the same as for advertising and promotion Benefit : * Shifting out the demand curve * Causing it to be less elasticNet benefit from R&D = change in the contribution margin less the R&D expenditure R&D-sales ratio = incremental margin percentage multiplied by the R&D elasticity of demand project evaluation = decisions on individual R&D projects should account for the timing of costs and benefits > p 212 7. Market structure effects of competition General points: * A monopoly restricts production below the competitive level and it can set a relatively higher price extracting larger profit * Profit of a monopoly exceeds what would be the combined profit of all the sellers if the same market were perfectly competitive potential competition Perfectly contestable a market in which sellers can entry and exit at no cost > monopoly cannot raise price substantially above its long-run average cost > depends on the extent of barriers to entry and exit lerner index = incremental margin percentage > can be used to compare the degree of monopoly power in markets with different prices > captures the impact of potential competition (P – MC) / P Perfectly competitive market = lerner index equals 0 Monopoly = bigger than 0 Problem = it will not detect the power that a monopoly does not exercise 8. monopsy = buyer with market power restricts purchases to depress the price Trades off: * Marginal expenditure * Marginal benefit Marginal expenditure = change in expenditure resulting from an increase in purchases by one unit maximizing net benefit a monopsy will maxim ize its net benefit by purchasing the quantity at which its marginal benefit equals its marginal expenditure A monopsony restricts purchases to get a lower price and increase its net benefit above the competitive level chapter 9. Pricing 2. uniform pricing = policies where the seller charges the same price for every unit of the product price elasticity = percentage by which the quantity demanded will change if the price of the item rises by 1% Demand inelastic > sales fall less than proportionately with the increase in price = total revenue will increase profit maximizing price Incremental margin percentage = – 1/price elasticity of demand demand and cost changesPricing rule shows how a seller should adjust its price when there are changes in the price elasticity of demand or marginal cost > a seller should not necessarily adjust the price by the same amount as a change in marginal cost common misconceptions * Contribution margin percentage = revenue less variable cost divide d by revenue > accounting systems often assume that costs are proportional = marginal cost is the same as the average variable cost = contribution margin percentage equals the incremental margin percentage * the belief that the profit maximizing price depends only on the elasticity = ignores costs * set the price by marking up average cost > problems: * in economies of scale, the average cost depends on the production scale > the need of an assumption about the scale sales and production scale depend on the price * it gives no guidance as to the appropriate mark-up on average cost Shortcomings: * leaves buyers with a lot of buyer’s surplus * does not sell to every potential buyer 3. complete price discrimination price discrimination = selling down the market demand curve = pricing policy under which a seller sets prices to earn different incremental margins on various units of the same or a similar product Complete price discrimination = a pricing policy where the seller pric es each unit at the buyer’s benefit and sells a quantity such that the marginal benefit equals the marginal cost > it charges every buyer the maximum that he or she is willing to pay for each unit comparison with uniform pricing resolves the two shortcomings of uniform pricing * no buyer’s surplus * economically efficient quantity information = to implement complete price discrimination, the seller must know each potential buyer’s individual demand curve > not enough to know the market demand curve or the price elasticity of the individual demand curves 4. direct segment discrimination Segment = significant cohesive group of buyers within a large market homogenous segments Direct segment discrimination = the policy of setting different incremental margins to each identifiable segment heterogeneous segments Not enough information: * apply uniform pricing within each segment prices are such that the incremental margin percentage for each segment equals the recipro cal of the absolute value of the segment’s price elasticity of demand * apply indirect segment discrimination within each segment implementation Conditions: * To implement direct segment discrimination, the seller must identify and be able to use some identifiable and fixed buyer characteristic that segments the market > otherwise buyer might switch segments * Seller must be able to prevent buyers from reselling the product among themselves = price discrimination is relatively more widespread in services than goods and is especially common in personal services Policy of direct segment discrimination prices should be set to derive a relatively lower incremental margin percentage from the segment with the more elastic demand and a relatively higher incremental margin percentage from the segment with the less elastic demand 5. location Seller can discriminate on the basis of the buyer’s location on two ways: * Free on board (FOB) = a common price to all buyers that does n ot include delivery > the differences among the prices at various locations are exactly the differences in the costs of delivery to those locations * Ignores the differences between the price elasticities of demand in the various markets * Cost including freight = delivered pricing = set prices that include delivery the difference in the prices between the two market will simply be the result of the different incremental margin percentage and the different marginal costs of supplying the two markets A lower margin does not necessarily mean a lower price because there is a transportation cost restricitng resale = if the difference between the prices of a product between two markets exceeds the transportation cost, consumers might buy the item in one market and ship it to the other > gray market = parallel importing 6. indirect segment discrimination = when seller may know that specific segments have different demand curves but cannot find a fixed characteristic with which to discrimi nate directly Indirect Segment discrimination policy of structuring a choice for buyers so as to earn different incremental margins from each segment > voorbeeld p 244-245 implementation Two conditions: * Seller must have control over some variable to which buyers in the various segments are differentially sensitive * Buyers must not be able to circumvent the discriminating variable = seller cannot prevent buyers from reselling the product 7. bundling = combination of two or more products into one package with a single price pure bundling = a pricing policy that offers only a bundle and does not allow the alternative of buying the individual products = more profitable than uniform pricing but less than direct segment discrimination mixed bundling offers buyers a structured choice between the budle and the individual products = form of indirect segment discrimination implementation Three conditions to be effective: * Where there is substantial disparity among the segments in their be nefits from the separate products * Where the benefits of the segments are negatively correlated in the sense that a product that is more beneficial to one segment provides relatively little benefit to another * Where the marginal cost of providing the product is low = when provision of the product involves a substantial marginal cost, a seller should consider mixed bundling 8. selecting the pricing policy Direct discrimination works through buyer attributesIndirect segment discrimination works through product attributes > products under indirect discrimination may provide less benefit than those with direct segmentation > indirect discrimination may involve relatively higher costs > indirect discrimination relies on the various segments voluntarily identifying themselves through the structured choice cannibalization = when the sales of one product reduce the demand for another product with a higher incremental margin > seller cannot discriminate directly and must rely on a structur ed choice of products to discriminate indirectly but discriminating variable does not perfectly separate the buyer segmentsWays to mitigate cannibalization: * Product design * By controlling availability chapter 10. strategic thinking 1. introduction Strategy = a plan for action in a situation where the parties actively consider the interactions with one another in making decisions Game theory = a set of ideas and principles to guide strategic thinking * Simultaneous actions = strategic form * Sequential actions = extensive form 2. nash equilibrium = a framework for strategic decisions that must be taken simultaneously A strategy is dominated = if it generates worse consequences than some other strategy regardless of the other parties’ choice Game in strategic form a tabular representation of a strategic situation, showing one party’s strategies along the rows, the other party’s strategies along the

September / 11 The Biggest Attack On American Soil And It

Throughout American history and still today these conspiracy theories always come up about any major tragedies. Some have been true but until someone within our own government comes out and says that these theories are true, they will continue to be all make believe. 9/11 is one of the biggest attacks on American soil and it also has a lot of conspiracies surrounding it. What really hit the towers? Where they commercial jet liners? How does a 747 leave that small of a hole in the Pentagon? These are some of the questions surrounding it. What it all comes down to though is what makes these theories so fascinating to Americans. What makes these so believable and to think that our own government would do this to us is just crazy, or is it? When looking at 9/11 we all know that the World Trade Center and the Pentagon were attacked, and the WTC twin towers both collapsed to the ground. They were said to be hit by American Airlines plane, but from some conspiracies they are said to be stru ck by an unmarked plane, and right before impact they saw a flash which is said to be a missile being shot into the tower right before the plane. Looking at this it looks like a military plane was flown into the towers. It is also said to be a controlled demolition and bombs planted in the basement of the towers, Kellen explains this from an interview from a Janitor of the tower, â€Å"I felt an upward explosion from underneath me, and then I heard the other explosion from above.† This came from theShow MoreRelatedThe Attack On The World Trade Center Bombing1092 Words   |  5 PagesAmerica has seen many terrorist attacks throughout the world and at home. Seeing them around the world may have hurt, but not as bad as seeing it in your own backyard, when you and your neighbors are being targeted. By definition Terrorism is usually a small group who kills suddenly or secretively. Many terrorist attacks are the attack on the World Trade Center and Pentagon on the attack of Septe mber 11,2001, the Oklahoma City bombing, the 1993 World Trade Center Bombing, the Wall Street bombingRead MoreThe War on Terror985 Words   |  4 PagesOn September 11, 2001, a man by the name of Osama Bin Laden changed the world using four planes. Crashing one into the pentagon, two into the World Trade Center in New York City, and the never forgotten fourth one that was brought down, by passengers, in a field in Pennsylvania. Because of these four planes people can not do many things the same, for instance people can not get on a plane without going through an hour or two of security. But Thirteen years after the biggest terrorist attack the worldRead MoreU.s History : The Worst Terror Attack On Us Soil Took Place1433 Words   |  6 PagesBarrett Coach Brodie 5/1/17 U.S History – F Period 9/11 Attacks On September 11th, 2001, the worst terror attack on US soil took place. 19 people associated with the Islamic extremist group al-Qaeda took 4 airplanes and carried out suicide to kill people in the United States. Two of the planes hit the World Trade Center, another plan hit the pentagon just outside Washington, D.C, and the fourth plane crashed in a field in Pennsylvania. These attacks caused massive destruction, forcing the U.S to combatRead MoreEssay on The Impact of September 11th on America613 Words   |  3 Pagesoccurred on September 11th changed all of that. In one morning, four airplanes changed Americas quality of life and culture. Americans belived its country was invunerable to an attack. Two Generations have passed since the last attack on American soil, and that was thousands of miles of the mainland in Hawaii. The attack on Pearl Harbor changed the face of America, just as September 11th changed the face of America today. The biggest national security problem America faced before September 11th wasRead MoreEssay about The War on Terror1239 Words   |  5 PagesThe attacks of 9/11 have reshaped and changed the way how Americans live today, forever. Never before such shock and terror has been felt by anyone on the American soil. On the morning of September 11, 2001, nineteen terrorist extremists hijacked four commercial planes, the planes deviated from their original routes. Two of the planes crashed into the Twin Towers in New York, one of the planes crashed into the Pentagon and the fourth plane crashed en route to either the White House or the CapitolRead MoreTerrorism : A Systematic Weapon Of War1320 Words   |  6 Pages â€Å"Terrorism has become a systematic weapon of a war that knows no border or seldom has a face† - Jacques Chirac, September 24th, 1986. As Mr. Chirac says Terrorism has become a systematic weapon of war. This does not just mean the US and its allies this mean on a global scale in Africa, Europe, Asia, Australia, North and South America the whole planet is affected. Even the countries that support groups like ISIS and al-Qaeda are affected by the bombing that we send. This War knows no borders whileRead MoreThe Bombing Of September 11th 2001947 Words   |  4 Pageswere you o n the morning of September 11th 2001? Most people over the age 20 can tell you exactly where they were and what they were doing when they found out about the events that occurred that historic September day. I, for example, was in the middle of the Pacific Ocean on a United States Naval Ship. The goal of the terrorist attacks may have been to break Americas resolve, however, the attacks actually united the American people. The attacks that occurred on September 11th 2001 killed 2,843 peopleRead MoreThe Flight That Fought Back907 Words   |  4 PagesThe Flight That Fought Back On September 11, 2001, America the land of the free attacked by terrorism. The results of that day led to thousands of deaths, millions of broken hearts. The criminal acts lead to the destruction of the twin towers and pentagon. Then there was the flight that fought back, Flight United 93. The courageous passengers made a plan to take over the flight. In the mix of the hijacking, the passengers called their loved ones and said their final goodbyes. There are many conspiracyRead MorePost 9/11 Counter-Terrorism in New York City Essay example1449 Words   |  6 PagesSeptember 11, 2001 was one of the scariest days for the United States of America. Many Americans felt unsafe in their own homes because this was the first ever terrorist attack on American soil. On this day many brave Americans stepped up to do their part on helping the wounded as much as they could. Many police officers and firefighters lost their lives going into the burning towers to try and save as many people as possi ble. Many nurses and doctors were also on site and working long hours in hopeRead MoreReflection Of The 9 / 11 Dispute1065 Words   |  5 PagesJose Torres Dr. Becker English 111 Final Draft Due: September 2, 2015 Reflection of the 9/11 Dispute September 11, 2001 was a date where the world would change forever. In the morning of September 11, 2001, two full sized 767 Boeing passenger airplanes were hijacked and crashed directly into the admirably tall 110 story buildings at the World Trade Center in New York. The buildings that were damaged early in the morning proceeded to collapse at free fall speed immediately after the impact of each

Reliability of the Media Essay - 947 Words

Reliability of the Media Growing up in America today means being exposed to numerous half truths. These are readily found on the television, newspapers, radio, and movies. The truth is hardly ever told in its complete form. Take for instance the local news broadcast, we watch it and take it for truth. We tend to give credibility to these newscasters based on the fact that they are representing major broadcast stations. These stations are supposed to be reliable and credible sources of information. In reality the facts are rarely ever told in complete form to the public. Bits and pieces of collected information is dressed up and edited to create a â€Å"news item†. Many times a station has to retract statements due to over-embellishment. The†¦show more content†¦In the movie â€Å"Mississippi Burning† we see a dramatized version of a non-fiction event that occurred in Mississippi in 1964. The event that occurred in June of 1964 was the slaying of three civil rights activists. During the summer of 1964, what is now known as â€Å"Mississippi Freedom Summer†, a group of volunteers went to Mississippi determined to break the back of segregation (Pitts). Three of these volunteers ended up being arrested then released later that day. They were stopped again on a deserted road by the same deputy sheriff who had arrested them earlier, this time accompanied by a party of Ku Klux Klansmen. They were murdered in cold blood, transported to an earthen dam several miles away and buried with a bulldozer (King). The FBI conducted a lengthy investigation that eventually led to the discovery of the bodies. These are the facts that the movie is based on. There is no denial that this event took place in 1964, but how it took place is not depicted accurately in the movie. The movie took place in Jessup County, which is a fictional location. The details on the investigation were greatly exaggerated. The movie director, Alan Parker, even stated in an interview, Im trying to reach an entire generation who knows nothing of that historical event, to cause them to react to it viscerally, emotionally, because of the racism thatsShow MoreRelatedReliability Is The Credibility For An Item874 Words   |  4 PagesReliability is the credibility for an item with explanation from various perspectives to convince one to believe. In the twenty first century, the society has transformed into an information age, which individuals could get access to information through various Medias like internet, magazine and newspaper. Since Medias is open to all individuals, information could be easily changed or added within these Medias, which lowers the reliabil ity of the sources. Therefore, lacking of reliability leads individualsRead MoreThe Effects Of Cognitive Ability On Social Media Use1450 Words   |  6 Pagesthrough print media, through email, and by phone, the entire process being randomized. The intent is to acquire a random sample that represents the population, both in demographic/socioeconomic terms and in terms of social media use. 2. Variables This experiment is attempting to find an effect on cognitive ability due to social media use. With this is mind, we must operationalize several distinct phenomenon including: the concentration aspect of cognitive ability, working-memory, social media, and socialRead Morecare guid Essay1590 Words   |  7 Pagesrelating to health and social care is presented can influence the attitudes, thoughts and behaviour of people 2.1 explain ways in which the media may be used to influence the attitudes and behaviour of people in relation to health and social care issues 2.2 evaluate how the public can assess the reliability and validity of media information about health and social care 3.1 carry out research into different perspectives on a specific issue relating to health and socialRead MoreThe Media s Influence On Children876 Words   |  4 Pages The media, including movies, television, video games, and more, is an extraordinarily prevalent entity in everyday life. Media displays many distorted images of real life, yet presents it as the ideal image of life. Those who watch the media are highly susceptible to forming false beliefs about what behavior trends are acceptable. Those who are most susceptible are children who are still forming schemas and experiencing schema accommodation; unfortunately, children between the ages of 2 and 11Read MoreTraditional Media is Still Relevant in Today’s Society Essay612 Words   |  3 PagesTraditional media is still relevant in today’s society and will continue to be for many years to come despite the meteoric rise of new media. This is because marketers still use traditional media to reach out to consumers simply because traditional media segments and targets different audi ences. The main bulk of revenue for traditional media comes from advertising. Although advertising revenue is dropping and the number of advertising done across new media is rising, the sales of new media still cannotRead MoreCorrelation Of Media Violence And Adhd Critique997 Words   |  4 PagesThe Correlation of Media Violence and Children’s ADHD Critique This particular study was executed to bring insight into if whether or not violent media and attention-deficit/hyperactivity disorder (ADHD)-related behaviors were related due to a specific gene in the body. The researchers took a sample from a previous study, Generation R, which examined the environmental and genetic elements resulted from the growth, health, and development of children. After meeting all the requirements, the subpopulationRead MoreExtant Textual Analysis Essay715 Words   |  3 Pagescontent and thematic analyses, all the tweets about these candidates posted from the date of the call for declaring candidacy until the day of the election were examined. Content analysis was used to describe the data numerically and to examine the reliability of the analysis; textual analysis was applied to determine the content of the data and code it without using a preexisting coding frame (Braun Clarke 2006). Extant textual analysis is an unobtrusive method that allows more obje ctivity in dataRead MoreThe Mass Media Invasion1516 Words   |  7 PagesNovember 29, 2017 The Chaotic Media Invasion Mass media means media where a large number of people can access the main media such as newspaper, tv, and the internet. The purpose of mass media is to provide information, entertainment and advertising. Mass media are classified as electronic media and print media. Electronic media include movies, the internet, radio, and television. Print media include magazines, journals and newspapers. Today, communication in the mass media plays an important role inRead MoreEffects of Media on Body Image855 Words   |  3 PagesEffects of Media on Body Image Discussion This study was conducted to analyze the impact of media, mainly fashion magazines, on how women perceived the idealized body weight and shape as well as the impact of media on the decision to diet or initiate an exercise program. Twenty working class women were given questionnaires at different times. The exposure to fashion magazines was assessed by determining whether the participant was a high level frequency viewer of fashion magazines, viewing themRead MoreResearch Design And Methodology Of The Social Sciences1249 Words   |  5 Pagesthe totality of cases that conform to certain specifications, which defines the elements that are included or excluded in the target group. The target population for this study was 50 students from Moi University main campus undertaking linguistics media and communication. A sample is a smaller number or the population that is used to make conclusions regarding the whole population. Its purpose is to estimate unknown characteristics of the population. Sampling therefore is the systematic process of

Scrooge in A Christmas Carol by Charles Dickens Essay...

Scrooge in A Christmas Carol by Charles Dickens The novel, ‘A Christmas Carol’, is more than just a mere story instead it tries to expose the negative side of Victorian society and the reason behind this horror, the greed of the wealthy, through the development of the character Scrooge. All this while attempting to prompt readers with Scrooge’s similar wealth to make a change. As mentioned earlier, the development of Scrooge’s character is vital to this and I will explain how his character develops as the story proceeds and how it is used to accomplish the aim as mentioned above. In the first stave, Dickens tries to point out that Scrooge is a character that society considers negative. In the introduction, Dickens points†¦show more content†¦This haste to put down Scrooge’s character was carried out by Dickens to set an impression of Scrooge as an overall negative character which is supposed to reflect, in exaggeration, the negative characteristics of the wealthy businessmen in Victorian society. The first stave also tries to pass Scrooge off as an isolated character, it does this through the use of repetition as the emphasis of Marley’s death is repeated several times in the first stave that even dickens admits this with the quote ‘permit me to repeat, emphatically, that Marley was as dead as a doornail’ which basically means that Dickens is admitting that he has repeated that Marley is dead, this proves that repletion is used to allow the reader to gain the impression that Scrooge is an isolated character which. This isolation is further emphasized when Scrooge described love and Christmas, both very social occasions, in one statement as ‘the only thing in the world more ridiculous than a merry Christmas’, this proves Scrooge’s isolation and his anti-social characteristic. Scrooge is also comes off the first stave as an anti-social and cold character, this is proven because Scrooge repeatly dismisses his nephew who is trying to make friends with him with the quote ‘Good afternoon’ which proves Scrooge’s anti-social and cold character. Not only is Scrooge’sShow MoreRelated Scrooge in A Christmas Carol By Charles Dickens Essay1089 Words   |  5 PagesA Christmas Carol By Charles Dickens Scrooge is represented from the beginning as a miserable old man being described as a squeezing, wrenching, grasping, scraping, clutching, covetous, old sinner! I think this a perfect description of him in one sentence. People know Scrooge well and avoid him, this suites Scrooge because he does not like other people and not a big fan of being sociable. The name Scrooge was created by Dickens and is now well known in the dictionaryRead MoreThe Comprehensibility of Scrooge in Charles Dickens A Christmas Carol1184 Words   |  5 PagesA Christmas Carol: The Comprehensibility of Scrooge A Christmas Carol by Charles Dickens is one of the most classic stories that has been embraced by Western culture. There is a certain timelessness to the entire story, in that it demonstrates the powerful transformation of an incredibly stilted and unlikeable character to that of someone who is giving, kind and generous. The popularity and timelessness of this play is representative of how deeply human being want to believe in the possibilityRead MoreCharles Dickens and A Christmas Carol1613 Words   |  7 PagesCharles Dickens and A Christmas Carol: Famed British author, Charles Dickens was born on February 7, 1812, in Portsmouth, England. He was the second of eight children, living in a poor neighborhood in London. His parents were John Dickens, a naval clerk, who always lived beyond his means. Married to his mother Elizabeth Dickens, who aspired to be a teacher and a school director. Dickens went to William Giles’ school in Chatham, Kent, for approximately one year before his father’s money habitsRead MoreCharles Dickens A Great Writer1105 Words   |  5 PagesOctober 2015 Remembering Charles Dickens Charles Dickens is a famous author who wrote numerous books which were enjoyed by many throughout the years. His books are known xquisite characters and real-life settings. Charles experienced difficult times as a young boy (â€Å"Charles Dickens† par. 7). These difficult times followed him throughout his life. He uses ideas from these struggles to express his feelings through the books he writes. The many struggles of Charles Dickens’ early childhood greatlyRead MoreSocial Criticism In A Christmas Carol By Charles Dickens765 Words   |  4 Pagesbehind the world renowned classic, A Christmas Carol. Charles Dickens, born on February 7, 1812, spent the first nine years of his life living in southeast England with his father John, who was kind and likable man, although financially irresponsible. After moving to London, the twelve-year-old Dickens had his father arrested and set to debtors’ prison where his mother moved seven of their children, but arranged for Charles to live alone outside the prison. Charles spent three traumatic years away fromRead MoreCharles Dickens: Carrying a Burden of Social Responsibility705 Words   |  3 PagesCharles Dickens: Carrying a Burden of Social Responsibility Charles Dickens’ classic novella A Christmas Carol, focuses on the social responsibility of the wealthy to help the poor and less fortunate. Dickens, having lived in poverty as a child, knew of the many struggles of the lower class of London. As an author, he made it his goal to reform England as best he could. Many of his works ran in his weekly journal, Household Words, including Christmas Stories and Great Expectations. In a ChristmasRead MoreA Lack of Charity Essay example1718 Words   |  7 PagesIn Charles Dickens’s books, Oliver Twist and A Christmas Carol, the theme of lack of charity is pronounced. Throughout Oliver Twist, society turns a â€Å"cold shoulder† to those in need of help (Miller 30). The Victorian England society prohibits inhabitants of the lower social realms from moving up in society. Rarely do lower class members receive attention, and the attention they do receive is far from par (Reeves). Ebenezer Scrooge, the main character of A Chr istmas Carol, learns to be charitableRead MoreEssay on The Personality of Scrooge1338 Words   |  6 PagesEbenezer Scrooge is the major character in the story, A Christmas Carol written by Charles Dickens. A Christmas Carol is about how a â€Å"cold-hearted, tight fisted, selfish† money grabbing man is offered an opportunity of a life time, to change his behaviour, attitude... to have a second chance in life. The theme of this novella is to look at the good you do in life and how it carries over after your death. The moral of the book is; People can make changes in their lives whenever they really wantRead MoreThe Personality of Scrooge Essay example1341 Words   |  6 PagesEbenezer Scrooge is the major character in the story, A Christmas Carol written by Charles Dickens. A Christmas Carol is about how a â€Å"cold-hearted, tight fisted, selfish† money grabbing man is offered an opportunity of a life time, to change his behaviour, attitude... to have a second chance in life. The theme of this novella is to look at the good you do in life and how it carries over after your death. The moral of the book is; People can make changes in their lives whenever they really wantRead MoreScrooges Transformation in Dickens A Christmas Carol Essay1319 Words   |  6 PagesEbenezer Scrooge is the major character in the story, A Christmas Carol written by Charles Dickens. A Christmas Carol is about how a â€Å"cold-hearted, tight fisted, selfish† money grabbing man is offered an opportunity of a life time, to change his behaviour, attitude... to have a second chance in life. The theme of this novel is to look at the good you do in life and how it carries over after your death. The moral of the book is; People can make changes in their lives whenever they really want to

What Is Bibliotheraphy Free Essays

What is Bibliotherapy? * Bibliotherapy – the use of literature to help people cope with emotional problems, mental illness, or changes in their lives or to produce affective change and promote personality growth and development. * The underlying premise of bibliotherapy is that clients identify with literary characters similar to themselves, an association that helps the clients release emotions, gain new directions in life, and explore new ways of interacting * E. g. We will write a custom essay sample on What Is Bibliotheraphy or any similar topic only for you Order Now Teenage readers may feel relief that they are not the only ones facing a specific problem. They learn vicariously how to solve their problems by reflecting on how the characters in the book solve theirs Some approaches in Bibliotherapy * Traditional bibliotherapy * Tended to be more ‘reactive’ * Focused on getting individuals to react positively or negatively to the reading material. * Therapeutic process * More interactive one: the reader becomes part of the unfolding intellectual and emotional process of the story, and in struggling to understand what is being communicated at the deepest levels, the reader responds by making a positive alternation or modification in behavior or attitude. Interactive bibliotherapy * Help them reflect on what they read, such as group discussion and dialogue journal writing. * In clinical bibliotherapy and bibliocounseling * Skilled practitioners use therapeutic methods to help individuals experiencing serious emotional problems. * Devel opmental bibliotherapy * Classroom teachers are more likely to use this method * Involves helping students in their normal health and development * Advantage – teachers can identify the concerns of their students and address the issues before problems arise. Students can also be guided through predictable stages of adolescence Basic stages in Bibliotherapy Generally, activities in bibliotherapy are designed to: * provide information * provide insight * stimulate discussion about problems * communicate new values and attitudes * create awareness that other people have similar problems * provide realistic solutions to problems Four basic stages: identification, selection, presentation, and follow-up. * First two stages – the clients’ needs must be identified, and appropriate books selected to match their particular problems. The books must then be presented carefully and strategically so that the clients are able to see similarities between themselves and the book characters. * Once the clients can identify with the main character, they enter the follow-up stage during which they share what they have gained. * They express catharsis verbally in discussion or writing, or nonverbal means such as art, role-playing, creative problem solving, or self-selected options for students to pursue individually * Once catharsis has occurred, the clients can be guided to gain insight into the problem. Catharsis – the process releasing strong emotions through particular activities or experience) Benefits and limitations of Bibliotherapy * BENEFITS * Provides the opportunity for the participants to recognize and understand themselves, their characteristics, and the complexity of human thought and behavior. * Promote social development as well as the love of literature in general, and reading in particular. * Reduces feelings of isolation that may be felt by people with problems. * LIMITATIONS * Availability of materials on certain topics Lack of clien t readiness and willingness to read. * Clients may also project their own motives onto characters and thus reinforce their own perceptions and solutions – participants may be defensive * Facilitators may have limited knowledge of human development and developmental problems, and inadequate knowledge about appropriate literature. * Clients may be unwilling to discuss areas that are uncomfortable * Facilitators may insist on making a point at the client’s expense. http://www. cyc-net. org/cyc-online/cycol-0105-biblio. html Selection of books When choosing stories for bibliotherapy there are specific criteria : * The child’s emotional and chronological age should be taken into account * The librarian should know the material * It should be related to the child’s circumstances and feelings * Illustrations should be clear and colourful. * Characters should model healthy adaptation patterns * There should be a character suitable for identification. * The hero in the story should also be portrayed realistically, for instance s/he must have feelings such as uncertainty, fear and anger. S/he must portray unacceptable behaviour such as being naughty, while people still accept him/her. * There should be other characters in the story that are more or less the same as those in the client’s situation * The librarian should know the client’s reading ability * In using bibliotherapy with small groups of children, the same principles of book selection * Any books selected will be suited for all group members. BIBLIOTHERAPY!! THREE STAGES of BIBLIOTHERAPY 1. IDENTIFICATION. The child identifies with a character, a story line, SOMETHING in the book that   catches their attention. This identification (discovery) can be by the child, or staged by the therapist or   teacher. 2. CATHARSIS. The child is able to release emotions when he/she becomes emotionally involved in   the story. The classroom or office provides a safe place for the child to release (in a classroom, make   sure to guard the child’s privacy and confidentiality). The child can release any of several ways, such   as discussion, art work, music . . 3. INSIGHT. With the therapist’s help, the child can come to possible solutions to their problem. Or   sometimes, there is no solution, but coping strategies can be suggested and goals made. The   book’s suggested solution or coping strategies can be used, if appropriate. | BIBLIOTHERAPY  can be done in group settings or with individuals alone. Books that address problems common to childhood can be read   to g roups, even when there aren’t any apparent problems. Sometimes a group reading can open discussion and reveal issues. While  BIBLIOTHERAPY  is a good way for children to release pent-up emotions, it should not be considered a cure. Deep psychological   problems can’t be resolved or even handled in a classroom setting — these need to be addressed in more intense therapy. | HOW TO USE BIBLIOTHERAPY!!!! (yahoo) 1. Identify your children’s needs through observation, parent conferences, classwork, official records, etc. 2. Match the problems with the appropriate books. Make sure that the book is appropriate for the child’s reading   level and maturity. 3. Decide on the settings and time for the therapy, and how you will introduce it to the student. 4. Design follow-up activities after the reading. 5. Motivate the child with introductory activities. 6. Engage in the reading, viewing, or listening phase. Ask leading questions. 7. Take a break for reflection. 8. Introduce follow-up activities: ~retelling of the story ~in-depth discussion of the book ~art activities ~creative writing ~dramatic activities 9. Discussion and possible solution finding. | http://www. catherineshafer. com/biblio. html Developmental Interactive Bibliotherapy Bibliotherapy is generally defined as the use of literature to promote mental health * Bibliotherapy has been found effective for a number of domains, such as attitude change, self-concept development, fear reduction, problem-solving ability, prosocial behavior, values development, and interpersonal relationship. * Bibliotherapy can offer a wealth of resources not only for problem-centered interventions but also for classroom guidance. Children’s Social-Emotional Development * The concept of emotional intelligence has been widespread in recent educational literature. Emotional intelligence involves the ability to perceive accurately, appraise, and express emotion; the ability to access and/or generate feelings when they facilitate thought; the ability to understand emotion and emotional knowledge; and the ability to regulate emotions to promote emotional and intellectual growth. †(p. 10) * Even in the reading lessons that involve only engaging stories, children can learn about how the characters feel and how the characters perform in response to such feelings. * Children learn these social-emotional skills through various medium, such as, literature, art programs, music, and so on. Lang (1998) suggested that a curriculum of social-emotional development should generally cover a wide range of issues. It should involve a concern for the personal and social development. The Tr ansactional Model of Stress * People also differ in their coping patterns. * Emotion-focused coping – avoidance, minimization, distancing, selective attention, and positive comparisons, are likely to occur when there is nothing that can be done to modify harmful, or threatening conditions. * Problem-focused coping – amenable to change. * No single strategy that is considered inherently better than any other. Transactional model suggests that to result in emotions and to cope appropriately with the realities of the situation we are facing, we need to appraise correctly. * the concepts of â€Å"appraisal† and â€Å"coping† to the elementary school students is through children’s literature – pertaining to stressful plots and various forms of coping processes and strategies were selected and analyzed Educational Importance of this Study * School counselors to use literature as a method for nurturing children’s social and emotional develop ment. Facilitate discussions with good quality in interactive bibliotherapy, professional skills including active listening, clarification of content, and reflection of feeling are crucial. * Select quality literature-counselors need to expand their collections in various stories pertaining critical issues to children’s social-emotional development at each stage. * Useful to collaborate with other practitioners, such as media specialists, classroom teachers, librarians, and parents. In addition, further knowledge for selecting children’s literature is especially needed. How to cite What Is Bibliotheraphy, Essay examples What Is Bibliotheraphy Free Essays What is Bibliotherapy? * Bibliotherapy – the use of literature to help people cope with emotional problems, mental illness, or changes in their lives or to produce affective change and promote personality growth and development. * The underlying premise of bibliotherapy is that clients identify with literary characters similar to themselves, an association that helps the clients release emotions, gain new directions in life, and explore new ways of interacting * E. g. We will write a custom essay sample on What Is Bibliotheraphy or any similar topic only for you Order Now Teenage readers may feel relief that they are not the only ones facing a specific problem. They learn vicariously how to solve their problems by reflecting on how the characters in the book solve theirs Some approaches in Bibliotherapy * Traditional bibliotherapy * Tended to be more ‘reactive’ * Focused on getting individuals to react positively or negatively to the reading material. * Therapeutic process * More interactive one: the reader becomes part of the unfolding intellectual and emotional process of the story, and in struggling to understand what is being communicated at the deepest levels, the reader responds by making a positive alternation or modification in behavior or attitude. Interactive bibliotherapy * Help them reflect on what they read, such as group discussion and dialogue journal writing. * In clinical bibliotherapy and bibliocounseling * Skilled practitioners use therapeutic methods to help individuals experiencing serious emotional problems. * Devel opmental bibliotherapy * Classroom teachers are more likely to use this method * Involves helping students in their normal health and development * Advantage – teachers can identify the concerns of their students and address the issues before problems arise. Students can also be guided through predictable stages of adolescence Basic stages in Bibliotherapy Generally, activities in bibliotherapy are designed to: * provide information * provide insight * stimulate discussion about problems * communicate new values and attitudes * create awareness that other people have similar problems * provide realistic solutions to problems Four basic stages: identification, selection, presentation, and follow-up. * First two stages – the clients’ needs must be identified, and appropriate books selected to match their particular problems. The books must then be presented carefully and strategically so that the clients are able to see similarities between themselves and the book characters. * Once the clients can identify with the main character, they enter the follow-up stage during which they share what they have gained. * They express catharsis verbally in discussion or writing, or nonverbal means such as art, role-playing, creative problem solving, or self-selected options for students to pursue individually * Once catharsis has occurred, the clients can be guided to gain insight into the problem. Catharsis – the process releasing strong emotions through particular activities or experience) Benefits and limitations of Bibliotherapy * BENEFITS * Provides the opportunity for the participants to recognize and understand themselves, their characteristics, and the complexity of human thought and behavior. * Promote social development as well as the love of literature in general, and reading in particular. * Reduces feelings of isolation that may be felt by people with problems. * LIMITATIONS * Availability of materials on certain topics Lack of clien t readiness and willingness to read. * Clients may also project their own motives onto characters and thus reinforce their own perceptions and solutions – participants may be defensive * Facilitators may have limited knowledge of human development and developmental problems, and inadequate knowledge about appropriate literature. * Clients may be unwilling to discuss areas that are uncomfortable * Facilitators may insist on making a point at the client’s expense. http://www. cyc-net. org/cyc-online/cycol-0105-biblio. html Selection of books When choosing stories for bibliotherapy there are specific criteria : * The child’s emotional and chronological age should be taken into account * The librarian should know the material * It should be related to the child’s circumstances and feelings * Illustrations should be clear and colourful. * Characters should model healthy adaptation patterns * There should be a character suitable for identification. * The hero in the story should also be portrayed realistically, for instance s/he must have feelings such as uncertainty, fear and anger. S/he must portray unacceptable behaviour such as being naughty, while people still accept him/her. * There should be other characters in the story that are more or less the same as those in the client’s situation * The librarian should know the client’s reading ability * In using bibliotherapy with small groups of children, the same principles of book selection * Any books selected will be suited for all group members. BIBLIOTHERAPY!! THREE STAGES of BIBLIOTHERAPY 1. IDENTIFICATION. The child identifies with a character, a story line, SOMETHING in the book that   catches their attention. This identification (discovery) can be by the child, or staged by the therapist or   teacher. 2. CATHARSIS. The child is able to release emotions when he/she becomes emotionally involved in   the story. The classroom or office provides a safe place for the child to release (in a classroom, make   sure to guard the child’s privacy and confidentiality). The child can release any of several ways, such   as discussion, art work, music . . 3. INSIGHT. With the therapist’s help, the child can come to possible solutions to their problem. Or   sometimes, there is no solution, but coping strategies can be suggested and goals made. The   book’s suggested solution or coping strategies can be used, if appropriate. | BIBLIOTHERAPY  can be done in group settings or with individuals alone. Books that address problems common to childhood can be read   to g roups, even when there aren’t any apparent problems. Sometimes a group reading can open discussion and reveal issues. While  BIBLIOTHERAPY  is a good way for children to release pent-up emotions, it should not be considered a cure. Deep psychological   problems can’t be resolved or even handled in a classroom setting — these need to be addressed in more intense therapy. | HOW TO USE BIBLIOTHERAPY!!!! (yahoo) 1. Identify your children’s needs through observation, parent conferences, classwork, official records, etc. 2. Match the problems with the appropriate books. Make sure that the book is appropriate for the child’s reading   level and maturity. 3. Decide on the settings and time for the therapy, and how you will introduce it to the student. 4. Design follow-up activities after the reading. 5. Motivate the child with introductory activities. 6. Engage in the reading, viewing, or listening phase. Ask leading questions. 7. Take a break for reflection. 8. Introduce follow-up activities: ~retelling of the story ~in-depth discussion of the book ~art activities ~creative writing ~dramatic activities 9. Discussion and possible solution finding. | http://www. catherineshafer. com/biblio. html Developmental Interactive Bibliotherapy Bibliotherapy is generally defined as the use of literature to promote mental health * Bibliotherapy has been found effective for a number of domains, such as attitude change, self-concept development, fear reduction, problem-solving ability, prosocial behavior, values development, and interpersonal relationship. * Bibliotherapy can offer a wealth of resources not only for problem-centered interventions but also for classroom guidance. Children’s Social-Emotional Development * The concept of emotional intelligence has been widespread in recent educational literature. Emotional intelligence involves the ability to perceive accurately, appraise, and express emotion; the ability to access and/or generate feelings when they facilitate thought; the ability to understand emotion and emotional knowledge; and the ability to regulate emotions to promote emotional and intellectual growth. †(p. 10) * Even in the reading lessons that involve only engaging stories, children can learn about how the characters feel and how the characters perform in response to such feelings. * Children learn these social-emotional skills through various medium, such as, literature, art programs, music, and so on. Lang (1998) suggested that a curriculum of social-emotional development should generally cover a wide range of issues. It should involve a concern for the personal and social development. The Tr ansactional Model of Stress * People also differ in their coping patterns. * Emotion-focused coping – avoidance, minimization, distancing, selective attention, and positive comparisons, are likely to occur when there is nothing that can be done to modify harmful, or threatening conditions. * Problem-focused coping – amenable to change. * No single strategy that is considered inherently better than any other. Transactional model suggests that to result in emotions and to cope appropriately with the realities of the situation we are facing, we need to appraise correctly. * the concepts of â€Å"appraisal† and â€Å"coping† to the elementary school students is through children’s literature – pertaining to stressful plots and various forms of coping processes and strategies were selected and analyzed Educational Importance of this Study * School counselors to use literature as a method for nurturing children’s social and emotional develop ment. Facilitate discussions with good quality in interactive bibliotherapy, professional skills including active listening, clarification of content, and reflection of feeling are crucial. * Select quality literature-counselors need to expand their collections in various stories pertaining critical issues to children’s social-emotional development at each stage. * Useful to collaborate with other practitioners, such as media specialists, classroom teachers, librarians, and parents. In addition, further knowledge for selecting children’s literature is especially needed. How to cite What Is Bibliotheraphy, Papers

Social Enterprise and Key Features Free Samples for Students

Question: 1.Describe the social enterprise and key features.2.Identify and Analysis the Market for the Social Enterprises. Answer: Introduction The paper describes Who gives a Crap which is a social enterprise based in Australia. It also provides the history and key features of the enterprise. In addition, the paper identifies and analyses the market in which the social enterprise operates. 7P marketing mix and SWOT analysis are some of the market analyzing strategies that have been used in the paper. Social enterprises are business initiatives which are meant to raise revenue and then use a fraction of the raised revenue in addressing economic, social or economic problems. The enterprise must therefore do everything possible to ensure that they remain competitive in the business market. There is no country where social enterprises are accorded preferential treatment in the business market. Social enterprises must therefore consider the marketing mix. In addition they must carefully analyze the market in which they operate. Since social enterprises uses a portion of their proceeds to improve the lives of people in the societ y, they must be able to carry out business and meet their targets. 1.Description of the Social enterprise and key features Who gives a crap is a social enterprise that was started way back in 2012 by Danny Alexander, Griffiths and Jehan Ratnatunga. The three people came up with the idea when they learned that there are close to 2.3 billion people worldwide who are in dire need of toilets. That was a huge fraction of the worlds total population (Anderson, 2015). The lack of toilets meant that about 40 % of the world population, more so those who live in Sub-Saharan Africa were prone to infections from diarrhea-related diseases. By good luck, it has been proved beyond doubt that accessibility to toilets is the only solution to diarrhea-related diseases. Toilets improve health, quality of life and also provide dignity at the same time (Cunningham, 2016). Research has also shown that investing in a single dollar in sanitation is likely to yield $5.50 regarding economic prosperity. According to the Griffith and his colleagues, that was indeed crap. They therefore, decided to come up with an initiative that would transform the lives of people across the world. Griffith and his friends started Who gives a crap (Marketing Minds, 2012). Who gives crap makes toilet paper, tissues, and paper towel from recycled materials and then sells them to customers. They then dedicate half of the proceeds obtained from the sales towards the building of toilets for people in developing countries. They also provide clean water access and hygiene education. As at now, 120,000 now have access to toilets courtesy of Who Gives A Crap.22, 758 trees have also been saved given that Who Gives A Crap uses recycled materials (Anderson, 2015). The use of eco-friendly materials have in turn led to the preservation of millions of litres of water and reduction of close to 4,000 tons of greenhouse gasses. Griffiths is the current Chief Executive Officer of the social initiative. He is famously known to have sat on a toilet for 50 hours until $ 50,000 was raised by their crowdfunding campaign to start the initiative. Griffith has teamed up with Craig $ Karl in creating some smaller sized toilet roll wrappers. He has taken the move to ensure that they can sell as many toilet papers as possible (Cunningham, 2016). Another reason why they decided to team up with Craig and Karl was to enable them to reach out to new customers. The collaboration with Craig and Karl puts the organization in a good position to market Who Gives A Crap to their fans and also share their story (Cunningham, 2016). 2.Identification and analysis of the market 7Ps Marketing Mix Product /Service Who Gives A Crap deals in generally basic products. Everyone needs toilet papers. Who gives crap makes toilet paper and paper towel from recycled materials. The products are of high quality, useful and convenient for use by the consumers (Anderson, 2015). They are made and packed such that all the customers would have value for their money. In addition; they are donating 50% of their profits. The 50% of profits is channeled towards the building of toilets for people, mostly in developing countries (Desmond Stone, 2007). Price and terms Who Gives A Crap sells their commodities at competitive prices. The prices are very affordable. The fact that they are making their products from recycled materials has enabled them to sell the products at fairly reduced prices and still makes profits. The products are sold to high income earners as well as low income earners, meaning that they must be sold at affordable prices (Lehmann Winer, 2007). Place/Access and availability Toilet papers and paper towels made by the social enterprise is sold in almost all parts of the nation (Cunningham, 2016). The products are easily available in retail shops, wholesale stores, and supermarkets. They can also be purchased from the social enterprises offices and depots. Those who have access to the internet can also access the organizations products online on their website (Ferrell Hartline , 2010). The enterprise has a website whereby customers can access view and compare the prices of various products. Promotion and selling Who Gives A Crap has branding marks on all its products. The branding marks enable customers to distinguish its products from those of its competitors. The fact that it donates 50% of all its profits towards the building of toilets in developing countries is in itself a very serious promotion activity (Marketing Minds, 2012). The idea of constructing toilets has made the organization and its products to become very famous in the countries. The organization has also been able to understand their customers product preferences and taste. They have therefore ensured that the customers are satisfied by the products offered to them (Ferrell Hartline , 2010). People Who Gives A Crap has employed people who make, supply and sell their products to customers. They have people in management, employees and those who provide customer services. The employees who provide customer services are tasked with the responsibility of ensuring that customers are satisfied by the products and services offered by the social enterprise (Anderson, 2015). Process Who Gives A Crap recycles materials and uses them to make tissues and toilet papers. The products are then transported to the marketplaces where they are sold. Proceeds from the selling of the products are then divided into two. 50% of the proceeds are used to construct toilets in developing countries while the other 50% is used in the expansion and day to day running of the organizations activities (Anderson, 2015). Physical environment The physical environment of the organization is clean, presentable, smart and modern. The management of the social enterprise has ensured that all their physical environments across the world are appealing to their customers. Accessibility has also been greatly improved such that all their customers can visit any the premises of the social enterprise without any obstruction (princesstachana, 2016). SWOT Analysis Strength The social enterprise has made for itself a brand name through the building of toilets for people in developing countries. The customers, therefore, have a feeling of ownership in the enterprise. As a result, they promote the sale of their products. Also, the enterprise makes their products from recycled materials which greatly reduce their production cost. Weakness The only weakness of the social enterprise is the inability to monopolize the market completely. Opportunities There are several business organizations such as Craig and Karl that have partnered with the Social Enterprise. Such collaboration markets the products and services offered by the social enterprise. They are therefore able to reach out to more customers (Cunningham, 2016). Threats The social enterprise is only investing 50% of their profits while their competitors are investing all their profits. As a result, their competitors have the edge over them when it comes to the rate of expansion and development (Anderson, 2015). Conclusion Social enterprises work extremely hard in order to raise revenue to sustain their operations. However, they must be aware of the competitors in the market. They must therefore effectively adopt the correct market strategies that would enable them to win as many customers as possible. Social enterprises have had a tremendous impact in communities across the world. Government spending in social projects has declined in the recent past. The organizations have done very well by filling in the gap. References Marnie Cunningham. (2016). Who Gives a Crap: Toilet Paper That's Making a Difference. Global Citizen, 13-15. Anderson, C. (2015). Social Startup 'Who Gives A Crap' Is Making Toilet Paper Cool To Help Those In Need. The Huffington Post, 5-6. Desmond, J., Stone, M. A. (2007). Fundamentals of marketing. London, UK: Routledge. Ferrell, O. C., Hartline , M. D. (2010). Marketing Strategy (5th edition ed.). Chicago: South-Western. Lehmann, D., Winer, R. (2007). Analysis for Marketing Planning (7 ed.). Syndey: McGraw-Hill Education. Marketing Minds. (2012, March 13). Retrieved April 27, 2016, from https://www.marketingminds.com.au/branding/apple_branding_strategy.html. princesstachana. (2016). Who Gives A Crap Tissues and Toilet Paper. Wordpress, 9.