Sunday, January 19, 2020

Business Plan †Book cafe Essay

1.0 Summary Profile Business Name: GRYFFINDOR BOOK CAFÉ Type of Business: A Book Cafà © Legal Structure: Partnership Address: No. 17, Ground Floor, Parramatta Road, Broadway Gryffindor Book Cafà © operated under a partnership between 3 people. It is classified to be within the hospitality industry, with its main focus is in serving people. The partners view the Cafà © industry Australia to be lucrative due to the growing demands of coffee. Gryffindor Book Cafà © will be operated within the University zone amongst the University of Sydney and University of Technology Sydney, in Broadway. Hence, the cafà © will be in close proximity to its target market. To differentiate our cafà ©, we will embark upon a unique physical appearance, which sets it apart from local cafà ©s, provide free reading materials, such as local and foreign newspapers, different types of magazines, books and novels. We will be providing a cafà © for customers in which, they can relax and escape from the daily pressures of work and offers a place to converse with mates over a cup of coffee. Furthermore, aside from the cold and hot drinks available, the business will also provide complementary side dishes, such as cakes. Hence, Gryffindor Book Cafà © will offer a variety of choices to our customers. Gryffindor Book Cafà © will gain its competitive advantage in the market by the quality of its products, warm customer service provided by our staff and the uniqueness of our facilities, which offers an escape from the everyday rustics. Furthermore, the main promotional strategy employed by the business is the word of its satisfied customers and the various discounts the business will offer. 2.0 Critical Success Factors for the Survival of the Business  · Efficient and concise management – Good management allows operations of the business to be well coordinated.  · Detailed planning – A well-planned business would clearly lists its goals and objectives and clearly identify the methods to be implemented.  · To constantly monitor and evaluate the business’s performance to ensure efficiency and hence maximise profits.  · Quality financial management – to ensure a healthy cash flow within the business.  · Well-planned marketing strategy – to be able to provide the goods and services demanded by consumers and to be able to reach potential customers.  · Sufficient capital – in order to pay its debts and continue operations and increase sales.  · A strong competitive advantage to distinguish the business within the market.  · Entrepreneurship spirit – continuous dedication from the owners/management is needed to operate the business effectively and profitably.  · Entrepreneur’s background knowledge and experience greatly contribute to the success of the business as it aids its operations.  · Location is a vital element to a small business, which must be of easy access to its customers. 3.0 Executive Summary Gryffindor Book Cafà © recognises the importance of prompt and amiable customer service in the hospitality industry. It is a small business that provides high quality coffee and hot and cold beverages with cakes, muffins and  cookies. It differentiates itself from other cafà ©s by its unique services of providing reading materials, i.e. newspapers and magazines from different countries, which the business incorporates as their prime function. Operating as a partnership between Angelene Alburquerque, Nicole Tsui and Jeff Chan, Gryffindor Book Cafà © belongs in the private sector and in the tertiary industry. It is located in Broadway, along George St. where it is easily accessible for its target market. The following business plan will analyse in details the situational analysis of the business in its establishment, and the operational, marketing and financial plans that it will implements in its start up. 4.0 Situational Analysis 4.1 Business Name: Gryffindor Book Cafà © 4.2 Prime Function: Gryffindor Book Cafà © provides:  · Hot drinks – coffee, cappuccino, lattes, etc.  · Cold beverages  · Milkshakes  · Cakes  · Pastries  · Cookies  · Reading materials – i.e. newspapers, magazines and books 4.3 Vision Statement To be the best cafà © with a difference with a reputable image supported by:  · High quality products  · Impeccable customer service 4.4 Mission Statement Gryffindor Book Cafà © is dedicated to:  · Providing customers impeccable service within a warm, friendly environment and comfortable facilities supported by promptness, quality and style  · Serve customers with the best cafà © products in the market at a value price  · Continually find improvement in our are of operations and service  · Be socially responsible by complying to a code of conduct, which would ensure fairness to its stakeholders  · Be environmentally conscious by using earth-friendly materials 4.5 Goals Ø Financial Goals · Maximising sales and profit · Business stability · Progressive growth Ø Personal Goals · Job security · Increase self-confidence · Improving managerial skills · Professional recognition · Increase power and Influence Ø Social Goals · Comply with ethical conducts · Provision of local employment · Sponsoring local events 4.6 Business Objectives Time Period: 12 months  · To break even with revenue and total costs in the duration of 10 months  · Reduce cost by efficiency by 10%  · Increase market share by 15% through effective marketing strategies 4.7 Business Ownership/Legal Structure Gryffindor Book Cafà © will operate as a partnership between Miss Angelene Alburquerque, Miss Nicole Tsui and Mr. Jeff Chan. Advantages and disadvantages operating as a partnership are as follows. ADVANTAGES · Low start up cost · Workload and responsibility is shared · Business profits are not taxed, but personal income only · Funds and talents of the partners are combined · Lower cost involved compared to operating a company · If one partner dies, business operations may continue DISADVANTAGES · Unlimited Liability · Conflicts between partners may arise · Liable for all debts, including debts held by other partners · Incompatible characteristics, making it difficult to find a suitable partner continue 4.8 Industry Analysis Australian coffee consumption is running at an all-time high. In September, economic forecaster BIS Shrapnel reported that we consume about 2.4 kilograms per person per year, double that of 30 years ago. (Tea consumption, by contrast, is on the slide.) And cafes, says Sean Edwards, managing director of cafe-industry organization CafeBiz, are â€Å"a $7.5 billion industry in Australia†. 4.9 Competition There are two general competitors in our cafà © market. They are the multinational specialty beverage chains, such as Starbucks and Gloria Jeans, and the local coffee houses or cafes, both with an established clientele and a quality product. There is a dramatic distinction among the customers of each of these outlets. Ø Michelle’s Patisserie Michael Patisserie is a pure Australian company, which mainly sells bakery products in the Australian community. Michael Patisserie is now a national system with around 270 outlets throughout Australia and is averaging new store openings of approximately 1 per week. Company Strengths  · Well-known products in Australia  · Recognized franchise  · Offering bakery bakes  · Specialty coffee roasting, coffee retailing and coffee training  · Easy accessible location Ø Starbucks Starbucks is an international corporation, which is the leading premium coffee cafà © in the world, with more than 23 branches locates in Sydney. Due to its distinguishable reputation of Starbucks will be a threat to Gryffindor Book Cafà ©. Company strengths  · Experienced in premium coffee  · High quality of services  · Famous establishment  · Lower production cost  · Recognizable franchise Ø Gloria Jean’s Coffee Gloria Jean Coffee is another large cafà © franchise in Australia, with stores in most major shopping centers and has almost 70 branches located in the Sydney region. With the renowned celebrity compared to our brand new cafà ©, it becomes a great challenge for the business to establish a certain market position. Company Strengths  · Standardized quality products  · Well-located place  · Eminent celebrity  · Employee-trained Local Cafà ©s Although small, a very tough competitor for our cafà © is the established local cafà ©s. Their previous experience in the industry would certainly be beneficial in further developing their cafes, which will greatly disadvantage Gryffindor Book Cafà ©. The quality of beverages served at an established cafe will surpass any of the regional or national chains. Company Strengths  · Plenty of product choices  · Easy access  · Consistent menus  · Quality product  · Well-serviced The competitive edge of Gryffindor Book Cafà © over the local cafes is based on the attributes of:  · Foreign newspapers and magazine service  · Consistent menu  · Quality product  · Discount purchases 4.10 Competitive Advantage Statement â€Å"Aside from our deliciously baked cakes and tantalising freshly brewed coffees, which is of the highest quality around, Gryffindor Book Cafà © guarantees the best customer service in the business.† SWOT Analysis Strengths · Business & management master’s degree held by each partner – intensive knowledge · Strong motivation and commitment held by each partner as personal success is dependent on the business’s performance · Focus on excellent service in satisfying customer’s needs · Well defined goals and objectives · Employs a variety of marketing strategies to reach customers · Unique facilities, which sets it apart from its competitors · Ability to provide personalized service Weaknesses · Undercapitalisation · Minimal experience in the hospitality industry · Minimal experience in making and preparing foods and drinks Opportunities · Increase market share · Take over dissatisfied customers from  their businesses · Increase variety of products · Positive forecasting Threats · Competitors – i.e. Transnational corporation (E.g. Starbucks & Gloria Jeans) · Unpredictable downturn in economy · Changes in government policies/laws · External government department controls – i.e. showing up unexpected 4.11 Economic Conditions Economic conditions will greatly affect the business. For example, changes in interest rates will affect the business’s bank loan. A change in unemployment may see a reduction of sales from the business, as customers are not willing to spend. Furthermore, economic conditions determine price levels. For instance, prices must be set lower during a recession. 4.12 Socio-Cultural Conditions Australia is multicultural and is therefore important for the business to treat everyone fairly without any bias. The business can use this factor as an advantage by offering foreign reading materials to cater for the majority of our customers. For example, English, Chinese, Japanese and Korean. Additionally the business must continue to monitor the changing trends in society in order to provide the goods and services that customers want and be able to change. 4.13 Legal-Political Conditions In order to legally establish a cafà ©, the business must be registered and it is important to apply a food licence from the council. Moreover, the quality of food and drink is extremely important to qualify and be permitted to open. Furthermore, laws such as the Fair Trading Act and Occupational Health and Safety regulations greatly effects the conducts of business and influences its operations. 4.14 Technological Conditions Gryffindor Book Cafà © must maintain its technological edge amongst its competitors. Therefore, we can introduce some high-technology machine (coffee maker) to improve the quality of our products and efficiency of the operations in long run. In short run, we may provide on-line order service for take-away service, such as order-on-net service, and improve our record keepings by the latest softwares, which would simplify managerial tasks. 4.15 Natural Environment Conditions Through the use of recyclable products, the business would project an environmentally-friendly image and avoid wastage. Furthermore, the business can utilise methods of saving water and the use less electricity. Consequently, this may not only protect the environment, but also reduce operating expenses. 5.0 Operations Plan 5.1 Location Gryffindor Book Cafe will be located in Broadway, along Parramatta Road, which is in close proximity with out target market. The physical size of the cafà © approximately measures to be 1600 square feet and is opposite Victoria Park, which encompasses a peaceful, scenic view of the area. The reason for this location is essentially due to the two universities in the area. 5.2 Furnishings Our cafà © will mainly use wood to be our main ornamentation and use French windows to emphasise Victoria Park’s green landscape to our customers as they read. Being a cafà © which provides reading resources, the lighting must be sufficient in order to protect our customer’s health, upholding our social responsibility. Moreover, we will furnish the cafà © with snug sofas to provide contented seats for reading convenience and just relaxing. A local professional will be contracted out of the business to handle the furnishing of the place. 5.3 Operating Hours Monday – Wednesday 7:00am – 6:30pm Thursday – Friday 7:30am – 8:00pm Saturday 7:30pm – 4:00pm Sunday Closed 5.4 Cafà © Floor Layout 5.5 Details of Production and Service Ø Food Preparation  · Beverages and hot drinks are to be prepared as it is ordered  · Muffins and cakes are baked freshly on a daily basis  · Some products will be ordered from local producers i.e. cakes Ø Service  · Customers approach the counter to make their order, which they have the choice to eat in or to take away.  · Reading materials are available to the customers, such as books that are old and new and magazines, which are distributed throughout the cafà © in shelves lining the wall.  · Current local and international newspapers, particularly from Asia are available to customers to read, which are positioned at the counter as they order, for easier and more convenient access.  · Staff would walk around to customers offering reading materials and ensuring that they are satisfied with the food and service.  · Smoking is prohibited in our cafà © to facilitate fresh air supply. 5.6 Stakeholders Ø Internal Stakeholders – The partners are the internal stakeholders of the business and has a responsibility for towards one another to perform their part in the business to the best of their ability. They are also the internal customers of the business, as each of their workload is vital for all partners to be able to perform their job efficiently. – Employees – the business must provide a safe working environment, to comply with Occupational Health and Safety regulations and provide training. Ø External Stakeholders – Customers – the business is responsible in providing high quality products, a safe environment and fair service. – Community – the business must be environmentally friendly, and will provide recyclable takeaway containers. – Government – the business will pay its due taxes, and will behave ethically in recording profits and expenses. – Suppliers – the business must pay its debts.  § John Fairfax Holding Limited – supplies newspapers and magazines  § Maxims – supplies food and drinks products 5.7 Proposed Organisational Chart 5.8 Method of Employee Participation in Decision Making  · The flatter structure encourages direct communication between employees and employers, which allows more input from staff and ideas to reach management at a more efficient manner.  · A suggestion box positioned behind the counter would be available for all staff to insert ideas as they work, which will be discussed in meetings.  · Include staff in meetings and allow for contribution  · Employ participatory planning, to include the staff, which will be affected by the plans made and/or will be asked to implement them.

Saturday, January 11, 2020

Textiles Del Hogar

DEFINICION DEL PROBLEMA: Resolver si es mas conveniente continuar con el negocio o liquidar. Si mi decision es liquidar la empresa debo definir cuando y como hacerlo. CARACTERISTICAS PRINCIPALES DE TEXTILES DEL HOGAR S. L. : Antecedentes A mediados del 2002 tras el gerente Oriol Ventura presentar los demas accionistas llamaron a RamonQuesada para que les asesorara. La entrada de los Quesada en Textiles del Hogar se dio el 6 de Febrero del 2003 tras 24 horas de reuniones con los accionistas por un contrato de gestion, una opcion de compra por parte o el total a ejecutar en 6 meses segun resultado de una due diligences y refinanciacion de la empresa. La sociedad Altafix. SL (creada por los Quesada) adquirio en acciones y refinancio el prestamo o aval lo preciso para que textiles del Hogar mantuviera en operaciones. _Objetivos _Estrategicos Los objetivos de los Quesada en Textiles del Hogar era aumentar la facturacion, generar fondos para poner la empresa al dia y generar dividendos para los accionistas. Producto Buena imagen en las tiendas de barrio y un producto con buena calidad/precio en comparacion con la competencia nacional y extranjera. Ventas Estacionales y con tendencia a la baja. El mercado acusa las importaciones asiaticas y se reduce el mercado para los fabricantes nacionales. Proceso de fabricacion e instalaciones Muy poca productividad debido a maquinaria muy obsoleta. La produccion se fabricaba en forma continua. Se fabricaba para stock en tejidos crudos para cumplir plazo de entrega mas cortos. Los pedidos de clientes de pocas unidades se producian sobre pedido Personal Ambiente laboral inicial muy deteriorado con 24 perronas (11 h + 13 m) con una edad media de 48 anos y una antiguedad de 20. 6 Cosedoras que no constaban en nomina y no habian sido dado de alta en la Seguridad Social. Entre el 2003 y 2005 la situacion se habia mejorado notablemente con el ingreso de los Quesada. Canales: Cartera de pedidos: Los pedidos oscilaban entre 1 y 4 semanas. Con mucha Incertidumbre. A pesar de apretados plazos, solo entre 5 y 10% se retrasaban en la entrega y casi unca mas alla de 5 a 10 dias. Proveedores: Principalmente fabricantes de hilo o de tejidos no fabricados por Textiles del Hogar. Subcontratistas solian ser acabadores. CRITERIOS PARA LA TOMA DE DECISION _Matriz de _decision _ _ Dividendos a Accionista Los socios llevan mucho tiempo sin cobrar ni un solo Euro y con las ventas cayendo a un 4 % constante en los siguientes anos siendo optimista el resultado del ejercicio es pos itivo sin embargo se va disminuyendo con el paso del tiempo lo que refleja poca viabilidad a largo plazo bajo las condiciones actuales. El ingreso para los accionistas en caso de liquidar seria solo por la venta de las existencias, las cuales son no perecibles y se pueden vender rapidamente aplicando un descuento, y las cuentas por cobrar (cartera 100% recuperable) ya que por las maquinas no obtuvieran ningun valor representativo. *Caida de facturacion del 4 % constante Gastos fijos aumentan a 180 para cubrir los 9 mil de los Quesada *(GESL tiene pendiente de recibir 5. 000â‚ ¬ durante 30 meses (150. 000â‚ ¬). Inversion en Tecnologia. Debido a que en Textiles la maquinaria era de cuarenta anos de antiguedad y los rendimientos muy bajos invertir en maquinaria permitiria mejorar los costos de fabricacion que permitan seguir los niveles de ventas. A esto lo debemos agregar la compra de un ERP (para mejor control administrativo) mas una normativa municipal esta inversion no seria menos 200. 000 euros. Entorno Economico* (Mercado y Ventas)*. Los mercados emergentes (especialmente China) son una amenaza constante para la sostenibilidad. Las ventas se vienen reduciendo en promedio 4 % anual peros esto puede aumentar por el factor mencionado haciendose mas dificil cada ano cumplir el presupuesto. Otro factor del mercado es que se compite via precio y no por disenos u otro factor diferenciador. La salida del mercado textil puede representar el ingreso al sector inmobiliario que segun uno de los accionistas , Adria Guasch, quien es propietario de las naves tiene un gran potencial. Indemnizaciones a Empleados Los costes de jubilacion se ven reducidos por la nueva legislacion en el sector textil lo ue facilita la liquidacion de esta. Este factor debe ser tomado en cuenta en para el â€Å"cuando† cerrar ya que el importe de 300000 euros es bastante significativo para la compania Responsabilidad social De acuerdo con el analisis de los criterios realizado en el punto anterior y ya que los dividendos y responsabilidad social son los criterios con mas peso se llega a la conclusion que los Hermanos Quesada deberian de c ontinuar con el negocio de Textiles del Hogar pero definiendo un plazo de espera para que repunte el negocio segun el plan de accion. Segun proyecciones de ventas y estado de resultado este punto debe ser el ano 2007 ya que la utilidad del negocio disminuye despues de este ano. PLAN DE ACCION Al tomar la decision de continuar con el negocio se debe de hacer cambios en los criterios expuestos para tener estabilidad y sostenibilidad a corto y largo plazo. Se debe empezar por potenciar el mercado que permita disminuir las comisiones de 5 al 8 % y asi aumentar el margen. Una alternativa puede ser consolidar una fuerza de venta propia. De manera paralela debemos buscar la manera de salir del mercado de commodity (via precio) a un mercado donde la calidad sea el diferenciador. Tambien se debe buscar capital para inversion en maquina ya que estas estan muy obsoletas y asi ser mas competitivos en tiempos y reducir costos de produccion. La otra inversion que se necesita es la de la normativa municipal y el ERP que conjuntamente ascienden a 200000 Euros. Reducir la estacionalidad en ventas es un punto igualmente importante. Una solucion seria buscar productos alternativos para los periodos en que las ventas caen. Si bien es cierto que la jubilacion sin costo por la nueva ley jubilacion del personal puedes ayudar ya que se puede contratar mano de obra mas joven y barata, considero que debe ser una ultima medida ya que la responsabilidad social para los Quesada es un criterio muy importante como se habia mencionado anteriormente.

Friday, January 3, 2020

Is It Really Just College - 1033 Words

Carlos Schemmel 2nd Rough Draft Inquiry 3 October 20, 2015 Is It Really Just College? A growing problem in today’s college culture is binge drinking and sexual assault. More and more teenagers in college are becoming sucked into this idea of drinking to get drunk. While the legal age is 21, it is not realistic to attempt to eradicate underage drinking from college campuses. However, the dangers of binge drinking can be catastrophic. And for parents, especially female parents, their greatest fear is someone abusing their child as the send them away to college. In general, most underage kids will have a beer sometime in their college experience. About 25 percent of college students report academic consequences of their drinking including missing class, falling behind, doing poorly on exams or papers, and receiving lower grades overall. Ultimately, receiving treatment can improve an individual’s chances of success in overcoming an AUD and asking for help is the first step. The stigma for asking for help as a weakness must be s hattered, because in reality asking for help is a sign of strength. By asking for help and receiving treatment and awareness from the beginning, college campuses can take great strides to protecting its students across campus. Imagine walking uptown on a Friday, and you see a stumbling freshman girl, distraught, makeup everywhere, eyes bloodshot, crying, and she is muttering over and over, â€Å"He used me, I said no. He used me I said no.† How do youShow MoreRelatedStudent Expectations Of The Early College811 Words   |  4 PagesWhile student expectations of the Early College may deter attendance the actual experience is positive due to the environment, students, and the five year plan. These three points are the points that most students have misconceptions about and causes them to not want to go. Really the college is a great experience that students don’t know about at first glance. 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Wednesday, December 25, 2019

Design, Business And Law - 1771 Words

Design, Business and Law Assessment 1 Febrina Halim 141FHM4540 T3/14 Introduction Australian Consumer Law (ACL) The Australian Consumer Law commenced on 1 January 2011. It is a national, generic law, which applies in the same way to all sectors in all Australian jurisdictions (Australian Consumer Law 2010). This means that all consumers in Australia enjoy the same rights and all businesses have the same obligations. The ACL covers general standard of business conduct, prohibits unfair trading practices, regulates specific types of business to consumer transaction, provides basic consumer guarantees for good and services and regulates the safety of consumer products and product related services (Australian Consumer Law 2010). ACCC†¦show more content†¦It provides a diverse range of communication service through two segments: Consumer and Corporate. The consumer segment provides services to residential and small business customers. The corporate segment provides services to corporate, government and wholesale customers. TPG offers nationwide ADSL2+, NBN, Fibre Optic and Ethernet broadband access, telephone services, Internet Protocol Television, SIM Only Mobile Plans and various business networking solutions. Background of the Case On 25 September 2010, TPG Telecom ran an advertising campaign about its TPG’s Unlimited ADSL2+ broadband plan for $29.99. TPG commenced a printed advertisement, radio, television and online campaign advertising until 7 October 2010. However, it failed to mention that it was only available with the purchase of a $30 home phone plan per month. Also, the consumers have to pay upfront set up fee of $129.95 and a $20 home phone deposit. Regarding that, ACCC found that TPG’s advertisements were false and misleading the consumers. However, after receiving a letter from the ACCC, TPG revised the advertisements and run the campaign for 13 months from 7 October onwards. The ACCC still brought the case in the Federal Court of Australia to against TPG. The ACCC’s concern is because the requirement bundling on the advertisements was in small and difficult to read print, which was insufficient to qualify the dominant

Tuesday, December 17, 2019

The Bystander Effect In Night By Elie Wiesel - 775 Words

38 people witnessed Catherine Genovese get stabbed, in three separate attacks, over a period of 35 minutes in Queens. Even as the assailant returned twice to finish off the job people still did nothing to intervene. This is called the bystander effect. This is a psychological phenomenon that describes the decrease in a persons likliness to help someone in need when there are other witnesses around. As found in most everyday crimes, the bystander effect was also found during the Holocaust. In Night, by Elie Wiesel, the bystander effect is revealed due to ones inability to help others in need because of fear they will be persecuted as well. The Jews of Sighet did nothing to help the foreigners being expelled from the area, Elie could not†¦show more content†¦I kept silent. In fact, I thought of stealing away in order not to suffer the blows† (Wiesel 54). This is a prime example of the bystander effect because it shows a witness that is frozen and unable to act for a cert ain reason. In this situation Elie can not help his father because he knows that if he does, then he will suffer a beating as well. He would rather slip away then help his father in order to escape a beating. Fear locks Elie as a bystander unable to act but only watch. Prisoners during the holocaust normally could do nothing to help family, friends, and stranger who were falling victim to the Nazi regime. Many times they had to watch as their fellow prisoners were beaten and killed but could do nothing about it due to their fear. Elie describe what happened at the gallows when the young boy was hung, â€Å"Then came the march past the victims. The two men were no longer alive. Their tongues were hanging out, swollen and bluish. But the third rope was still moving the child, too light, was still breathing†¦Ã¢â‚¬  (Weisel 65). After the execution each prisoner had to walk past the boy, but yet again could do nothing but watch him die. 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Monday, December 9, 2019

Economics for Business and Guidelines

Questions: 1. Compare the market structures of Perfect Competition, Monopoly, Monopolistic Competition and Oligopoly? 2. Explain what Non-price competition means? 3. Explain the term mutual dependence and which market structure experiences it the most? 4. Which market structure do you think each of the following businesses belong to? Explain your choice? 5. Diagrams of demand curves facing two firms? Answers: 1. Perfect Competition 1. Number of firms in the market: In such market structure, there are many firms available on the market offering products to the consumers. 2. Similarity of the products sold: The firms offer similar types of products or services to the target demographics. Precisely, there are no perfect substitute products offered to the consumers. 3. Barriers to entry: In such perfect competition market structure, barriers to entry in the market are substantially low. Meanwhile, the entry of a new competitor will not impact the competitors market share in direct order Monopoly 1. Number of firms in the market: In a monopoly market structure, the number of producer or firm is only one. 2. Similarity of the products sold: Due to lack of product substitute, the producer or seller has sold exclusive products to the target demographics. 3. Barriers to entry: As the product manufacturer in such market structure has got exclusive product rights, any other competitor cannot make an entry in the market Monopolistic Competition 1. Number of firms in the market: The number of firms in such market structure is many. 2. Similarity of the products sold: Similarity of products is less as the products are manufactured for the same purpose, but are differentiated by different factors (Feenstra, 2016). 3. Barriers to entry: Barriers to entry are relatively low in compared to oligopolistic or monopoly industry Oligopoly 1. Number of firms in the market: In such market structure only a few organisations have created an industry.2. Similarity of the products sold: In an oligopolistic market structure, the products manufactured by the firms are nearly identical. 3. Barriers to entry: Due to lack of several competitors in the industry, the barriers to entry are significantly high such as in monopoly business (Layton, Robinson, Tucker, 2012). 2. Non-price competition is a particular market situation in which the industry contestants would not reduce the product prices to get distinct sales benefits (Symeonidis, 2010). Meanwhile, to stay competitive, competitors uses extensive marketing promotions. In a non-price competition, the industry competitors often engage in other significant means instead of lowering prices. First of all, extensive advertising can be identified as one of the most common concepts to become competitive in a non-price competition. Secondly, efficient marketing strategies have been implemented to draw the attention of the target demographics (Layton, Robinson, Tucker, 2012). On another note, quality customer services will be provided by the sellers to stay ahead in a non-price competition market. In this way, sales of the products and services can be increased without reducing the price. 3. Mutual dependence is termed as the interdependence of planning the pricing and product differentiation strategy of the firms operating in the same market. By considering the fact of interdependence, it can be seen that the oligopoly market structure experiences mutual dependence the most (Layton, Robinson, Tucker, 2012). The primary reason for the extreme level of mutual dependence is the few number of sellers and differentiated products. Any change in the strategy of one organisation impacts the strategies and planning process of the other firms. 4. 1. Coles Supermarket in my city belongs to oligopoly market structure becuase of few number of sellers. It is interdependent on other firms operating in the market. 2. A hair dresser salon belongs to perfect competition market structure due to a huge number of salons operating in the market with similar products and services. 3. Metro Trains in Melbourne and Sydney Trains belongs to monopoly market structure becuase they are the utilimate seller in the market and any new entry to the market is restricted (Layton, Robinson, Tucker, 2012). 4. National Australia Bank belongs to oligopoly market structure becuase there are few number of Banks in the market that offers differentiated products and services. 5. Academies Australasia Polytechnic belongs to oligopoly market structure becuase there are few number of polytechnic institutions in the market that offers differentiated products and services (Layton, Robinson, Tucker, 2012). 6. A small store that sells souvenirs such wallets, caps, tee-shirts, key chains in your citys Sunday market that has many such stores belongs to perfect competition market becuase of large number of sellers with similar products. 7. A car workshop in your city belongs to monopolistic competition becuase of large number of sellers in the market that offers differentiated services. It is a free to enter market for new entrants. 7. Iphone and Samsung in the mobile phone industry belongs to oligopoly market structure becuase of few number of sellers and differentiated products. It is comperatively difficult for new entrants to start business in the mobile phone industry becuase of a large investment. 5. Diagram A Diagram B By considering the two diagrams given above, it can be seen that diagram A represents inelastic demand curve and diagram B represents elastic demand curve. The application of the above diagrams to two different market structures has been presented herein below: Monopolistic Competition: The diagram B is an elastic demand curve that belongs to monopolistic competition market. In a monopolistic competition, any changes made by a firm will highly impact its sales because of the high level of competition and product differentiation in the market (Yomogida, 2010). Hence, the demand curve in the monopolistic competition market is elastic but not perfectly elastic. Oligopoly: On the other hand, any changes made by the firm in an oligopoly market will make other firms to do the same kind of change in its strategy. For example, if firm A reduces the price of its products, the firm B will also do the same to compete and survive in the market (Yomogida, 2010). Hence, the changes made in the price will not impact its demand by a high range. Hence, the demand curve in an oligopoly market is inelastic in nature. References Feenstra, R. (2016). Gains from Trade Under Monopolistic Competition.Pacific Economic Review,21(1), 35-44. Layton, A., Robinson, T., Tucker, I. (2012).Economics for Today(1st ed.). South Melbourne, Vic.: Cengage Learning Australia. Symeonidis, G. (2010). Price and Nonprice Competition with Endogenous Market Structure.Journal Of Economics Management Strategy,9(1), 53-83. Yomogida, M. (2010). Fragmentation and Welfare in Monopolistic Competition.Review Of International Economics,18(3), 531-539.

Monday, December 2, 2019

The Somber Dance Essays - Guggenheim Fellows, Poetry, Literature

The Somber Dance The Somber Dance Theodore Roethke, poet and author, has contributed many well-known pieces to American literature. Roethke wrote close to 200 notebooks worth of poems. Only three percent of the poems in his notebooks were actually published. Most pieces, well-known to the public, are collections of poems such as The Waking, which he won a Pulitzer prize for in the mid 1950's. The Lost Son and Open House are two other collections pieces of Roethke. A couple novels also helped this aspiring author and poet achieve his status among literature; Words for the Wind and The Far Field. All of the works just mentioned were not achieved by Roethke until he was well into his late 20's. As a child, he was hardly one who would have been expected to become a major American poet. Saginaw, Michigan, 1908, Otto and Helen Roethke welcomed their son Theodore into the world. Theodore's future relationship with his parents would not be a considerable special one, especially with his father. Otto, a floriculturalist and greenhouse owner would have his mood swings with his two sons. Mood swings increased as Otto's consumption of alcohol increased. On the outside it seemed Theodore could handle his father's awful drunken and abusive side. Years later, Theodore would express his true pain emotionally and physically in several of his poems. As for Charles, his brother, it was obvious he could not handle the pain. Charles committed suicide when Theodore was 14. Several months afterwards Otto passed away of cancer. These two deaths did not stop Theodore in his tracks. He graduated high school and went onto University of Michigan and later to Harvard for graduate study. Harvard is where Roethke first began to discuss and write poetry openly. Theodore's career began as an English instructor at a college in Pennsylvania. Just a few years later he became an English professor at University of Michigan. Roethke was a well-liked professor. He always wanted to be remembered as unique. In order to accomplish being unique, Theodore would occasionally extend the classroom sessions into a local bar. Some of his former students are well-known 2 poets now such as Richard Hugo and James Wright. During his employment at University of Michigan, Theodore began having nervous breakdowns and a slight problem with alcoholism. His father's problems with alcohol is reflected in Theodore's use of it. The nervous breakdowns, however, eventually led him to the hospital. He tried too hard to be such an outstanding professor by doing too much. His mind was not able to keep up with his body. Many co-workers did not understand the mental problems Roethke was having and assumed he was mentally insane and incapable to continue teaching. This began interfering with his job. Things started looking up however when he re-united with one of his former students, Beatrice O'Connell. The two fell in love after and became married when Theodore was 45. His happiness in his marriage did not keep away his mental frustrations though. It was interfering with work once again and was fired from University of Michigan the same year of his marriage. The newly married couple decided to drop everything and move to Seattle, Washington. Roethke found a job immediately at University of Washington as an English professor. Although he and his wife never had any children they lived a more peaceful life in Seattle. In 1963, just ten years after his marriage to Beatrice, Roethke passed away from a heart attack. Before leaving this world though, he left behind an extraordinary poem, ?My Papa's Waltz?. My Papa's Waltz The whiskey on your breath Could make a small boy dizzy; but I hung on like death: Such waltzing was not easy. We romped until the pans Slid from the kitchen shelf; My mother's countenance Could not unfrown itself. The hand that held my wrist Was battered on one knuckle; At every step you missed My right ear scraped a buckle. You beat time on my head With a palm caked hard by dirt, Then waltzed me off to bed Still clinging to your shirt. 2 ?My Papa's Waltz? was written in 1948. The main subject to this poem is a child's memory of his abusive, alcoholic father and their love/hate relationship. It takes place at night. This is shown through the second to last line, ?Then waltzed me off to bed?. The setting is the family's home due to the description of a kitchen and heading to bed (The glass house, p29). Due to Roethke's relationship with his own