PMCN Case Study Essay -- PMCN Analysis

The theory of economics does not furnish a body of settled conclusions immediately applicable to policy. It is a method rather than a doctrine, an apparatus of the mind, a technique for thinking, which helps the possessor to draw correct conclusions. The ideas of economists and politicians, both when they are right and when they are wrong, are more powerful than is commonly understood. Indeed the world is ruled by little else. Practical men, who believe themselves to be quite exempt from any intellectual influences, are usually the slaves of some defunct economist." (John Maynard Keynes, the General Theory of Employment, Interest and Money p 383) Critically assess the extent to which â€Å"the ideas of economists† might improve the performance of an organisation of your choice. Table of Contents Introduction 3 Context 4 Literature Review 5 1. Microeconomic Concepts and the PMCN 5 1.1 Transactions Cost Theory 5 1.2 Profit Maximization 7 2. Macroeconomic Concepts and the PMCN 9 2.1 Fiscal Policy and the Budget. 9 2.2 Monetary Policy – Rules Based Framework/Taylor Rule. 11 3.Synthesis and Conclusion 13 References 14 Bibliography 18 Introduction This paper provides a critical assessment of the performance of organizations which could be linked to economic theories and concepts. Through a review of various literature, research and conclusions of economists such as Friedman (1970), Coase (1937), Williamson (1981, 1998, 1975), Sloman et al. (2013), Powell (1990), Taylor (2011, 2012) and so on, the researcher presents a critical assessment of the microeconomic and macroeconomic concepts which were found to affect performance of a typical organizations. The concepts were also linked to other aspects of economics ... ...ft/wp/2013/wp1365.pdf. [Accessed on 21st of April 2014]. Grossman, S.J and Hart, O.D (1983). An Analysis of the Principal-Agent Problem. Econometrica Vol. 51, No. 1 January 1983. Available on: http://classes.maxwell.syr.edu/ecn611/GrossmanHart83.pdf. [Accessed on 20th of April 2014]. Jensen, M.C and Meckling, W.H (1976). Theory of the Firm: Managerial Behavior, Agency Costs and Ownership Structure. Journal of Financial Economics, October, 1976, V. 3, No. 4, pp. 305-360. Available on: http://www.sfu.ca/~wainwrig/Econ400/jensen-meckling.pdf. [Accessed on 20th April 2014]. Tadelis, S and Williamson, O (2010). Transactions Cost Economics. University of California Bekerley The IMF (2014). Fiscal Policy and Income Inequality. International Monetary Fund Policy Paper. Available on: http://www.imf.org/external/np/pp/eng/2014/012314.pdf. [Accessed on 21st of April 2014].

We Must Build a Culture of Peace Essay -- Graduate College Admissions

We Must Build a Culture of Peace      Ã‚   " Think global, act local" is an appealing slogan, but the advice falls short. We live in a world where our best friends live on different continents and we converse more with our neighbor in Nigeria than our neighbor next door. No longer is it logical to say, "Charity begins at home." Instead, our work for human dignity and human rights must be carried on everywhere at once. To create a global culture of peace, youth of the new millennium must think and act both "global" and "local" contemporaneously.    Youth with a burning inner desire to see a global culture of peace must seek opportunities and relationships in which to demonstrate peace. Over 50 years ago, a child fugitive knew this and proclaimed, "How wonderful it is that nobody need wait a single moment before starting to improve the world" (Frank). As a young teen, Anne Frank innately knew that the premise for building a global culture of peace is for each of us to reach out and touch the lives of as many people as possible in an attitude of love and tolerance. To accomplish this goal, young people must work concurrently in 3 spheres: local, national, and global.       Locally, we can create our own community-based peace clubs and/or we can join established clubs within schools which promote peace, peer mediation, and conflict resolution. In these clubs youth can learn about peace and then go a step further to educate others by organizing peace walks, writing letters, distributing petitions, planting peace gardens, writing poetry and essays about peace to present in coffee houses, sponsoring peace essay and art contests, writing peace plays to present to the public, and/or publishing our own newspapers.   ... ...me sow love" (Halamandaris). We must let our peace flow outward to influence other youth and adults to join us in our cause. For it is only when we agree to settle our disputes and attain "liberty and justice for all" with words and not wars, gentleness and not genocide, harmony and not hatred will we achieve the ultimate goal - a global culture of peace.    Bibliography Dumas, Alexandre. The Three Musketeers. Bergenfield, New Jersey: Penguin USA, 1982. Frank, Anne. The Diary of a Young Girl: The Definitive Edition. Otto H. Frank, Editor. New York: Doubleday, 1995. Halamandaris, The Brothers, editors. Caring Quotes: A Compendium of Caring Thought. Washington, DC: Caring Publishing, 1994. "World Population Trends." United Nations Population Division, Department of Economic and Social Affairs (DESA). May 28, 2000. Available http://www.un.org

Symbols and Symbolism in The Great Gatsby :: Great Gatsby Essays

Symbolism in The Great Gatsby  Ã‚   In The Great Gatsby F. Scott Fitzgerald presents a novel with intricate symbolism. Fitzgerald integrates symbolism into the heart of the novel so strongly that it is necessary to read the book several times to gain any level of understanding. The overtones and connotations that Fitzgerald gives to the dialogues, settings, and actions is a major reason why The Great Gatsby is one of the classics of the 20th century. Three themes dominate the text of The Great Gatsby. They are time / loss, appearance / mutability, and perspective. Most of the novel's thematic structure falls neatly into one of these categories. In order to satisfactorily understand the novel, we must examine the roles of these three themes. The word time appears 450 times in the novel either by itself or in a compound word. Fitzgerald obviously wanted to emphasize the importance of time to the overall design of the book. Time is most important to Gatsby's character. Gatsby's relationship with time is a major aspect to the plot. He wants to erase five years from not only his own life but also Daisy's. Gatsby's response to Nick, telling him that he can repeat the past, is symbolic of the tragic irony that is behind Gatsby's fate. Gatsby exclaims on page 116, "Can't repeat the past? Why of course you can!" Gatsby cannot accept Daisy until she erases the last three years of her life by telling Tom that she never loved him to his face. Gatsby fully believes what he says and thinks (or desperately hopes) that that is true about Daisy. At one part of the story he actually tells Nick how, as soon as Tom is out of the picture, he and Daisy were going to go to Memphis so they could get married at her white house just like it were five years before hand. In another scene, when Gatsby and Nick go to the Buchanans' for lunch towards the end of the book, Gatsby sees Daisy's and Tom's child for the first time. Nick describes Gatsby's expression as one of genuine surprise and suggests that Gatsby probably never before believed in the girl's existence. Gatsby is so caught up in his dream that he becomes vulnerable to the world's brutal reality. Fitzgerald masterfully creates a time symbolism in the scene when Daisy and Gatsby meet for the first time in five years.

The Five- Forty Eight

Peaceful Triumph in the Face of Evil Atonement can be achieved without vengeance. Revenge is so basic, so animal a reaction to evil; it takes a higher level of thinking to achieve redemption without hateful spite and revenge. Atonement is satisfying after the anguish of rancor and internal violence brought on by maltreatment. When the goal is to equalize one’s enemy rather than destroy him, the end result is fulfilling. Although one immediately wants to take down his aggressor, in the long run, he will discover that this does not bring him the peace that they seek. In the short story â€Å"The Five- Forty- Eight† by John Clever, a businessman named Blake is kidnapped at gunpoint by his former secretary, Ms. Dent. She is mentally ill and angry with him for ignoring and promptly firing her after their one night stand, bringing him to a warehouse where she contemplates shooting him in revenge, but instead simply walks away. Having confronted the man that has wronged her without taking his life, Ms. Dent eventually leaves the scene, reborn without her anger. Redemption found in the absence of revenge is far more fulfilling a solution to a problem than one found through vengeance and violence. â€Å"The Five- Forty- Eight† is a prime example of this philosophy. Ms. Dent feels that Blake’s malice is the root of her unhappiness. While her mental illness has contributed to her deep inner turmoil, a great deal of it has been stirred up by his cruelly insensitive actions towards her. He preyed on her as he had other women, revealed through the narrator’s assertion that â€Å"most of the many women he had known had been picked for their lack of self- esteem† (Cheever). This gives us a brief glimpse into Blake’s past treatment of women. It is meant to be assumed that the women that Blake has â€Å"known† in the past are others that he was intimate with in brief and loveless affairs. Having said â€Å"picked† allows the reader to recognize that these were not simply women he happened upon in passing, these were in fact women that he specifically chose amongst all others, having perceived them as the easiest targets. Most importantly, the narrator says that these women were picked for their â€Å"lack of self- esteem. This reveals Blake’s true predatory nature. He wanted a woman he perceived to be weak and easy to manipulate for his own devices. Blake used Ms. Dents â€Å"oversensitivity† (Cheever) and â€Å"lack of self- esteem† (Cheever) in order to satisfy his own desires. Blake personifies evil within this story, and his actions against his secretary are the execution of aforementioned evil. Had Ms. Dent killed Blake and therefore vanquished evil, she would not have found peace with her inner demons. Ms. Dent was quite ill to begin with, having spent eight months in a hospital prior to her work for Blake, and her handwriting giving â€Å"the feeling that she had been the victim of some inner—some emotional—conflict that had in its violence broken the continuity of the lines she was able to make on paper† (Cheever). The use of the word â€Å"victim† incites that she is suffering unduly by no fault of her own. The idea that there is â€Å"violence† in her illness lends to the reader the severity of her disease. That the disease should have â€Å"broken the continuity of the lines she was able to make on paper† shows that the troubles of her disease are now pouring outward, evident through things so ordinary as her handwriting. Ms. Dent is quite ill, the impact of this illness becoming obvious long before she kidnapped Blake. Shooting him and thereby expressing the violence and â€Å"conflict† within her would push her over the edge and completely destroy her. Had Ms. Dent destroyed Blake, the evil in her life, she could never and been vindicated of the burdening emotional pain she felt. She is quite capable of overcoming the sadness he caused without killing him. Ms. Dent successfully overcomes the reprobate, evil character in her life without killing him. After bringing him to the warehouse, Ms. Dent forces Blake to the ground, repeating several times, â€Å"Put your face in the dirt† (Cheever). He is now beneath her, having been forced to bend to her will so far as to put his face against the dirty floor of a city warehouse. She then goes on to say â€Å"I can wash my hands of this† (Cheever) several times as well. The washing of hands is an allusion to the Bible, where Pilate, the Roman general who decided to hang Christ upon the cross, also claims to wash his hands of any fault he has in persecuting Jesus. In saying this, Ms. Dent cleanses herself of the â€Å"filth† in her life that has caused her such misery. She then leaves Blake there on the ground, crossing a wooden footbridge and disappearing. This crossing of the bridge metaphorically shows that she is now beyond the obstacle that had impeded her ability to be happy, having done so without harming the obstacle itself, much like a bridge continues one’s path over a river without ever disrupting it. The narrator goes on to say that â€Å"he saw by her attitude, her looks, that she had forgotten him† (Cheever), and we finally know that she is ultimately at peace with herself, and has managed to find this peace without resorting to the ultimate violence of murder. Ms. Dent had purged herself of evil without ever having to destroy its source. The root of nearly all great pain and emotional toil is evil. However tempting it may be to destroy this evil, to vanquish it, to kill it, this will never bring he who suffers the peace he seeks. Should Ms. Dent have killed Blake, she never would have found the redemption she sought. Forcing him into the dirt, lowering him below her, and therefore allowing her to elevate herself above evil gave her the fulfillment that she desired and alleviated the pain that she felt. John Cheever’s â€Å"The Five- Forty- Eight† shows us that the destruction of evil is not necessary when overcoming it. It is in elevating oneself above evil, the realization that one is greater than that which has caused one such suffering, that peace is finally found.

Pragmatic Accounting Essay

There is no generally accepted theory of accounting. There are a number of accounting theories (though a systematic attempt has been made by Financial Accounting Board (FASB) of USA and IASC and other to formulate a comprehensive theory of accounting). The definition of Accounting Theory given by Hendriksen as â€Å"a set of broad principles that (i) provide a general frame of reference by which accounting practice can be evaluated, and (ii) guide the development of new practices and procedures† lead us to perceive accounting theory as a basis of explanation and prediction. The primary objective of accounting theory, as it follows from this definition, is to provide a coherent set of logically derived principles that serve as a frame of reference for explanation/prediction of accounting events and behavior. Classification of Accounting Theories There are several ways of classifying accounting theories. They may be classified, for example, according to time e. g. steward accounting, decision usefulness accounting, and accountability or societal responsibility accounting. Other ways of classifying theories can be (i) Inductive versus deductive, and (ii) normative versus positive. Glautier and Underdown are of the view that the roots of accounting theory are decision theory, measurement theory, and informational theory. Hendirksen says that â€Å"a useful frame of reference is to classify theories according to prediction levels† there are, according to him, three main levels of theory. The levels are as follows: 1) Structural or syntactical theories. 2) Interpretational or semantical theories. 3) Behavioural or pragmatic theories. Behavioral or pragmatic theories: These theories emphasize the behavioural or decision-oriented effects of accounting reports and statements. It has been noted that accounting is now regarded as a process of measurement and reporting information to the users- internal and external. Since 1945 onwards it is being realized that accounting is useful not merely to assess the result of past performance but also that it can be more useful in decision making by the management , shareholder, creditor, present and potential investors, government and others. The objective of accounting now is not only to provide information to management for decision making. Outsider interested individual and groups of individuals are also supplied necessary and timely information for making rational decisions. The focus is on relevance of information being communicated to decision makers and the behavior of different users as a result of presenting of accounting information, e. g. an effort to and be made to find out the extent to which security prices reflect fully and promptly all available information or what is the impact of providing price-adjusted accounting information during inflation on decision makers. It can thus, be seen that in recent times communication-decision orientation has been emphasized in the development of accounting theories. Behavioural theories attempt to measure and evaluate the economic, psychological and sociological effect of alternative accounting procedures and reporting media. ACCOUNTING is utilitarian. It represents a response to needs. The measure of its achievements at any point in time and in any particular context is the extent of this response to the needs of that particular time in that particular context. Underlying accounting standards represent the concept of usefulness. The truth of this is evident in the decision-oriented accounting which forms such a large part of the accounting task. The accounting required to satisfy the demands of stewardship, law and regulation, and reporting minima, forms only a minor part of modern data processing and information systems. The detailed classifications and task-oriented analyses which are a feature of the modern system are justified only by their capacity to provide at the margin a value in excess of the incremental cost. Management needs information to use as a basis for decision-making. The value we are concerned with is value to management  An accounting system accumulating, classifying, analyzing and relating both financial and statistical data is the major source of managerial information. In the first place there is the value of the record itself. It is necessary to have ready access to facts, and reliable evidence of facts. For example, detailed and verifiable records of debtors’ current accounts are essential. In the second place, there is value in the analysis of the results of past activity and past decisions, particularly if this can be related to standards and to individual responsibilities. Finally, there is value in data classified and accumulated for the purposes of projection. There is truth in the criticism that we are a long way from using the economic potential of electronic computers in the business sphere, and that the future will see an increasing use of computers in the scientific projection of past data to provide a constantly updated guide for managerial planning. Administrative accounting is a response to managerial needs. It is economic only insofar as it provides, at the margin, value at least equal to cost. It follows that, in the rapidly changing scene which is typical of today, there is a need for a continual reassessment of needs, of responses, and of economics. It follows too that the administrative accountant is concerned not just with meeting general needs typical of the particular type of enterprise, but also the particular needs of those responsible for administering the particular enterprise. Finally, the administrative accounting that is done in a specific enterprise is the concern of the management of that enterprise rather than of the accountancy profession. Accounting is a system-centered activity carried out to meet particular needs. But a study through time, and a study of systems in widely varying enterprises, reveal the existence of some broad needs and the development of some common methods and generally accepted standards in the meeting of those needs. In their valuable study of accounting continuity,’ Littleton and Zimmerman have traced three general and continuing needs which have been and continue to be the concern of accounting: 1. The need to record in order to report. This is the concept of stewardship; but is concerned too with the need for dependable facts. . The need to audit in order to trust. This is the concept of verification, ex-pressed in the modern context in the auditing function. 3. The need to analyze in order to understand. The need to interpret, they suggest, is the greatest of these needs, and by corollary the most important of the accounting tasks. Its systematic implementation is through classification, analysis, and comparison. Common needs might well be expected to stimulate common responses, though environmental factors will lead to differences in these responses. Double entry accounting has been one such response, and its value is evidenced by its continuity after some six hundred years of experience. The social need for reliability and comparability of accounting reports has led to the concepts of â€Å"general acceptance† and â€Å"the true and fair view. † But both methods and concepts require continuing’ review to determine, in a changing world, the extent to which they are meeting both broad needs and particular needs. Many accountants would maintain that the time honored double entry system, fundamentally based on flows of historic costs, is in-adequate to meet the needs of the modern era. The Accounting: The Survival of Satisfactory The accounting bequeathed to us today as a gift from yesterday exemplified a response to past needs; but not necessarily of the â€Å"a survival satisfactory. One must ask the questions â€Å"Satisfactory to whom? † and â€Å"Satisfactory for what purpose? If standards are to have a sharp cutting edge, then they need to be concerned with the particular needs of particular individuals or groups. The broader the group, and the more diverse the needs, the less incisive and useful are the standards. â€Å"Fairness to all† and â€Å"general acceptance† tend to reflect custom and com-promise. Such concepts are not without value-the same value as Common Law has in our legal system. But where there is a potential towards bias, where there are vested interests, social interests, and interests requiring the protection of society the law tends to be more specific. And this is the situation in the external reporting field which is the particular concern of the accountancy profession. One result is that professional pronouncements on controversial matters have tended to lack clear definition and to give tacit acceptance to what Leonard Spacek has called â€Å"double standards. Another result is that the reaction of accounting practice in re-porting to changing needs has tended to be very slow, and to receive its main stimulation from disaster rather than from the evolutionary process envisaged by Little-ton and Zimmerman. Let us assume that we have overcome the problem of definition of â€Å"the satisfactory. † What conditions are necessary for the timely emergence of the satisfactory? I suggest that it requires a regular critical examination of current needs, objectives, standards, compromises, methods and rules, with an adequate testing of new concepts and methods. The basis for testing should be the closeness of approach to the revised objectives, and the practicality and economics of the change (considered in the very broad sense). In fact our re-examination have tented to be spasmodic and uncritical. That testing is inadequate is clearly by the evidence negative reaction to the suggestion that supplementary statements be published, incorporating price level changes. Firm objectives to use as a basis for judgment are at least not clearly expressed-if they are expressed at all.

Extended Marketing Mix

The extended marketing mix (7Ps) The marketing mix is the combination of marketing activities that an organisation engages in so as to best meet the needs of its targeted market. Traditionally the marketing mix consisted of just 4 Ps. For example, a motor vehicle manufacturer like Audi: * Produces products that are of the highest quality and fit for the needs of different groups of consumers, * Offers a range of cars at value for money prices, depending on the market segmented they are targeted at, Sells the cars through appropriate outlets such as dealerships and showrooms in prime locations, i. e. in the right places, and * Supports the marketing of the products through appropriate promotional and advertising activity. The marketing mix thus consists of four main elements: 1. Product 2. Price 3. Place 4. Promotion. Getting the mix of these elements right enables the organisation to meet its marketing objectives and to satisfy the requirements of customers. In addition to the tradit ional four Ps it is now customary to add some more Ps to the mix to give us Seven Ps. The additional Ps have been added because today marketing is far more customer oriented than ever before, and because the service sector of the economy has come to dominate economic activity in this country. These 3 extra Ps are particularly relevant to this new extended service mix. The three extra Ps are: 1. Physical layout – in the days when manufacturing dominated the UK economy the physical layout of production units such as factories was not very important to the end consumer because they never went inside the factory. However, today consumers typically come into contact with products in retail units – and they expect a high level of presentation in modern shops – e. g. record stores, clothes shops etc. Not only do they need to easily find their way around the store, but they also often expect a good standard or presentation. The importance of quality physical layout is important in a range of service providers, including: * Students going to college or university have far higher expectations about the quality of their accommodation and learning environment than in the past. As a result colleges and universities pay far more attention to creating attractive learning environments, student accommodation, shops, bars and other facilities. * Air passengers expect attractive and stimulating environments, such as interesting departure lounges, with activities for young children etc. * Hair dressing salons are expected to provide pleasant waiting areas, with attractive reading materials, access to coffee for customers, etc. * Physical layout is not only relevant to stores, which we visit, but also to the layout and structure of virtual stores, and websites. . Provision of customer service – customer service lies at the heart of modern service industries. Customers are likely to be loyal to organisations that serve them well – from the way in which a telephone query is handled, to direct face-to-face interactions. Although the ‘have a nice day' approach is a bit corny, it is certainly better than a couldn't care less approach to customer rela tions. Call centre staff and customer interfacing personnel are the front line troops of any organisation and therefore need to be thoroughly familiar with good customer relation's practice. . Processes – associated with customer service are a number of processes involved in making marketing effective in an organisation e. g. processes for handling customer complaints, processes for identifying customer needs and requirements, processes for handling order etc The 7 Ps – price, product, place, promotion, physical presence, provision of service, and processes comprise the modern marketing mix that is particularly relevant in service industry, but is also relevant to any form of business where meeting the needs of customers is given priority.

Nicole Sarah Calgary Wedding Photography

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