Profit Maximization and Baumol Model

Managerial Economics August 15, 2007 The key points underpinning the economics of a profit maximizing firm Neoclassical model of the firm states that organization will have the main objective of maximizing its profit within a given period of time. Maximum profit was achieved at the output at which marginal cost is equal marginal revenue. There are several factors which need to be considered when talking about the profit maximizing firm: 1. The assumption of the profit maximizing firm is that there is no segregation between managers and owners of the firm. Owners economically depended on their firms and therefore tried to make the biggest profit from their businesses. The effectiveness of their firm was measured by the profit declared. In the real world the ownership of the firm (especially for the larger firms) is different from the management. Managers become responsible for all day-to-day operations as well as finance objectives. Those can be different for management and for the owners. Managers tend to satisfy their own well being rather then acting on the best interests of the owners. Shareholders would like to see the increasing value of the stock from year to year. The separation of ownership from control lead to less power of shareholders over the manager’s behavior as well as less awareness of how efficient the decisions are made. 2. Profit maximizing firm assumes the horizontal marginal revenue curve and U shape marginal cost curve. This means that the market conditions are always ideal, not very competitive and the revenue cost declines as a result of discounts made to encourage the customers to purchase the products. In reality it is difficult to accurately measure the cost and revenue within organization and therefore difficult to determine the optimal, profit maximizing level. There are a lot of constraints and conditions which need to be evaluated at any given period of time to determine the cost and revenue curves. Rapidly changing conditions will make it difficult and sometimes impossible to make the accurate measurements. 3. Another assumption is that the organization short-term objectives are the same as its long term objectives leading to profit maximization. In reality, as in long term objective may be to maximize the firm stock value and increase the shareholders profit, the short term objective may be to keep investing in a firm to establish a better position for the future. Other constraints like social responsibility of the firm, imperfect or changing market conditions, demand versus supply curves etc. will affect the objectives of the firm. 4. One of the assumptions of the neoclassical model is that the organizations have a perfect knowledge of the operating conditions. It is recognized in the modern firm that they operate under the uncertainty level, which, however can be reduced by increasing the knowledge for market, competition and environment. With these factors the conclusion is that the profit maximization cannot be the sole objective of a firm. The factors need to be taken into consideration to determine the optimum firm strategy and firm objectives. Critical evaluation of Baumol management model. Baumol model is a sales revenue maximization model. Baumol model is the alternative to the profit maximization model. The main idea of Baumol model is that the objective of a firm is the sales revenue-maximization rather then profit maximization. The most important points supporting Baumol model are: – The is recognition of separation between firm ownership and management. Managers have discretion to pursue personal goals to maximize their own utility. Therefore a minimum profit constraint on management is set up by shareholders to address shareholders concerns and interests. – Manager’s more focuses on their own tangible benefits rather then on profit maximization for the company. Salary increases are likely related to the level of sales rather then organization level of profit. – Investors interest in the level of sales and trend of sales rather then level of profit. Growing sales tend to give better picture of company potential and therefore attract refinancing. – Rising level of sales recognizes organization’s success and therefore leads to good human relations within the organization. – Direct relation between market share and the level of sales means that the organization is raising its position on the market if its sales level increases. In other words the market share of the firm goes up. In Baumol model there is an assumption is that the organization using the Baumol model is operating in an oligopolistic market with no true competition. Baumol thinks that it will take longer for the large organizations, which most likely to be competitors, to arrive to the decision making and decision implementation point due to the competition within the oligopolistic market. However it is also said that within the market there is collision between organizations just to maintain an agreed position where everyone can have their share of the market. This is certainly an assumption which cannot be applied to every kind of markets. There are two models of sales revenue-maximization which both work under above assumption: the static model and the dynamic model. Static model is a single period model for organization assuming that no competition with other companies exist. In static model a minimum profit constraint is imposed by shareholders regardless of the sales and other conditions of the organization to protect their interests. The excess of maximum profit level over the minimum profit level constraint is the measure of managerial discretion. There is also an assumption of the U-shaped cost and ? -shape for revenue curves. By looking at the Baumol’s static sales revenue-maximization model chart we can see that the quantity produced by the sales revenue maximizer will be the quantity which satisfies the minimum profit constraint and yet allows the greatest level of sales (quantity) to be achieved. The sales revenue maximizer will earn a lower profit, but produce a greater quantity then the profit maximizer. Therefore the sales revenue maximizer will better capture the market share then the profit maimiser. However in the static model Baumol does not analyze the relationship between price, advertising, total cost and quantity of the produced output. When talking about advertising cost Baumol suggests that the advertising expenditures are constantly grow as a straight line and that the sales revenue increases as increases the advertisement cost. In the real world advertisements are made from time to time depending on the organization’s marketing studies. Sales revenue also depends on many factors like market conditions, managerial talent and knowledge, firm pricing strategy, quantity produced, total operating cost etc. In Baumol model we see no attempts to take these factors into consideration. In its dynamic model where the idea is that over the lifetime organization will continue to gain the sales revenue and reinvest the profit into the future organization growth. At a certain point of growth, however, the growth potential will decrease and the level of sales will go down. Even though Baumol raised a point of uncertainty, he failed to place the time within his model and therefore limited the options of explaining the firm behavior. Baumol model shows that the sales revenue maximizer will produce more output then the profit maximizer. The profit level is also more stable in the Baumol model then in traditional profit-maximizing model. The sales maximizing firm will also have a lower price then the profit maximizing firm. Low cost airline example. Let’s take an example of the low-cost airline to outline the points of Baumol model. At a glance it may seem that a logical step to maximize the airline profit in order to reinvest more money into the new flights and expand the company. But it may not be profitable for an airline in a long run as the customers may loose the loyalty to an â€Å"always low price† airline because of their quality of service or inconveniencies caused during travel. Actions like flying from the lower cost airports away from the major hubs; reducing the number of flight attendants per flight; introducing a cheaper meals or no meals at all, offering meals at a separate price; cut on entertainments on board; overbooking of the flights to make sure the flight is always full; buy cheaper older aircrafts, improve maintenance procedures to reduce the cost would lead to short term profit maximization. On a long run the airline may start loosing customers due to the poor services and inconvenience caused. For example, flying from a low cost airport may result in additional cost for the passengers trying to reach that airport or having a connecting flights from other airports. Significant number of luggage lost would also lead to loosing the customers. Overbooking the flights may cause many passengers not being able to fly at the desired time and therefore loose the loyalty for the airline. Cutting cost on airline maintenance may jeopardize safety procedures and result in catastrophe. American Airlines Flight 191, a McDonnell-Douglas DC-10 aircraft crashed on May 25,1979 after taking off from Chicago airport. Investigation showed that it was a result of an improved maintenance procedure imposed by American Airline and saving then over $200 000 a year. For a low cost airline it is vital to fulfill the flight capacity and sell as much tickets as possible because the flights the cost of flying would remain the same whether the plain is flying full or not. This means that the main objective of the low-cost airline is to maximize their level of tickets sold. The actions like: – reducing inefficiency across the board of the airline, putting innovative and creative business concepts, promoting the teamwork, empowering the employees to encourage their personal involvement in day-to-day customer service improvement – monitoring the airline market, dynamically determined ticket price per seat, studying customers needs – introducing new routs to popular destinations, organizing convenient connecting flights – have faster connectivity time, faster turnarounds point-to-point flights rather then flying through major hubs, using less congested airports – internet booking, e-tickets – no pre-assigned seat numbers etc. maybe more appropriate for helping to have a low cost operation yet with the high quality standards. The price of the ticket should be determined dynamically (hopefully by specialized software) based on customers demand and supply on a particular route at a particular time. Ideally the ticket price should be the highest with maximum filling of flight capacity. For example, early booking price may be lower and raised towards filling the flight capacity. Therefore sales maximizing model fits better for the low cost airlines and gives them more chances to succeed in the market. References: Mark Cook, Corri Farguharson (1998) â€Å"Business Economics†, Pearson Education Limited Patrick McNutt (2007) â€Å"Study Guide Unit 1. Management Objectives and Stakeholder Value†, Business & Management Education Limited, UK

Czech Literature Essay

1. Characterize the main defining points of Czech pre 19th century history. Czech literature encompasses the provinces of Bohemia, Moravia, and Silesia. The Czech literature is divided into many periods, the Middle Ages, the Hussite Period, the Baroque period and the enlightenment that ushered in the 19th century Czech literature. Czech literature is unusually tri-lingual, utilizing Czech, Latin then German. Most of the writers before wrote in other languages (i. e. German) that’s why some of these writers and their works were classified as Austrian Literature. Early evidences of Czech poetic work around 12th centuries are the two songs, Hospodine, pomiluj ny (Lord Have Mercy Upon Us) and Svaty Vaclave (Saint Wenceslas). In the 13th century, various political, social and cultural changes happened. Epics such as Alexandreis, the Chronicles of Dalimil, the lyrical pieces Island Song and Cunigund’s Prayer, signaled the birth of a unique Czech literature. Enters the Hussite Era wherein the sole purpose of the literature was to expand and spread the arguments and doctrines of Jan Hus. Jan Hus was a theological writer at the beginning of the 15th century wherein he wrote mostly in Latin, and then Czech later on. Nonetheless, he published a compilation of his sermons in Czech and created rules of orthography and grammar that would later on be the foundation of modern Czech. Jan Hus’ works catered to the masses and mostly consist of social situations. This period truly developed Czech religious songs as alternates for Latin hymns and liturgy. However, Hussite Literature was oftentimes invalidated by works defending Catholicism just like Jan Rokycana’s works. Humanism, a new trend in Bohemia replaced the Hussite era. This form of literature mainly dealt about rival writings of Catholics in Latin and Protestants in Czech. However, the Catholics finally emerged victorious after the Protestants were defeated in the Battle of the White Mountain. Therefore, there was persuasive re-Catholicization that leads to confiscations and eviction of all Protestants. There was a splitting of literature, the domestic Catholic and the exiled Protestants. This was known as the Baroque period. However, the Bohemian nobility was unlike any European nobility during that time, they held special courts for the nobles separate from the public. This division resulted to the inability of the Baroque period of literature to expand and develop. The best known figure in Baroque Czech writing was John Commenius, a teacher, theologian, and philosopher. He grew up in Bohemia but was later on exiled due to Protestantism; and with his death, Protestant literature died away with him. After the demise of Protestantism and the power of Catholicism, a new development occurred with the declaration of Emperor Josef II to end feudalism and to tolerate freedom of religion and ideas. This ushered enlightened classicism, or the application of rational reasoning to all aspects of life. Having a national language and a literature in one’s own language was seen as necessary to build an identity for the nation. A renewed interest in Czech folk literature and prose novels that relates the history and evolution of the nation of Czech, and a certain Czech poetic style was developed. 2. Describe the first phase of national revival. Major Figures The national revival was a spin-off from the enlightenment of Czech literature. These ideas were all about renewal of everything Czech; from science to the arts and theater. However, there would still be a long way to go from being independent from the German style and develop a unique Czech style. This task was especially hard since German influence had span for so many years and the Czech language was already losing out. Hence, the solidarity among Czech citizens was greatly established and its connection with Russia, as well as restoration of the historicism and instilling nationalism amongst its people. Step by step, promotion of Czech’s unique culture and traditions finally escalated to the point of politics. This means that Czech’s status as a government is equal to Germany, with Czech having its own constitutions and local autonomy. However, in 1848, there was an outbreak of revolution all over Europe and Germany had demanded unification of other European countries with them. This involved the lesser Germany or a greater Germany wherein Czech would be a part of, supposedly. However, Chancellor Matternich of Austria resigned a month before the first Austrian Constitution was proclaimed. Nevertheless, uprisings were still adamant and a convention met in Vienna aiming to end the Viennese revolution and Slavic nations who resists Germany’s offer of incorporating Austria into Germany as part of its greater Germany concept. Upon so many debacles an Austro-Hungarian Settlement was reached, but this agreement totally ignored Czech’s demands, which led to an assembly of people at significant sites in Czech history. So, an agreement between Austria and Czech was develop in 1871 and it included increased authority of Czechs assemblies. However this agreement was flawed such that it increased discontent of Germans and Hungarians living in Czech and further negotiations for the treaty was stopped. The relationship among Czechs and Germans worsen eventually, that this led to the formation of Germans in Bohemia their own enclosed German territory wherein German is the official language. 3. Early 19th century poets After the enlightenment period and the national revival struggle, Romanticism entered the Czech literature scene. Frantisek Palacky was the leading Slavic scholar with Vaclav Hanka (1791–1861) who produced Slavic texts that became part of Czech’s literary tradition and culture. Moreover, the entrance of three literary figures such as Svatopluk Cech, Jan Neruda, and Joseph V. Sladek introduced poetry that was leaning towards the rich and the aristocrats. Svatopluk Cech (1846-1908) was a Czech poet and novelist. He became famous for his love for freedom and democracy and his inclination to Pan-Slavism. This enthusiasm with politics was observed through out his many writings; just like The Adamites (1873), Zizka (1879), and Vaclav of Michalovice (1880). His satirical novel Excursion of Mr. Broucek to the Moon (1886) was also well-regarded as well as his idyllic prose In the Shade of the Linden Tree (1879). Jan Neruda (1834-1891) was a Czech essayist and poet. A native of Prague, his famous Stories from Mala Strana (1878) were derived from his childhood in Prague. It also showed ridiculous interpretation of the Czech middle class that illustrates Czech realism. Joseph V. Sladek (1845-1912) was a Czech poet and translator. His works were influenced by Shakespearean plays since he lived in the United States for two years and the taught English in Prague and translated much American and English writings into Czech. Sladek’s poetry were free-verses and short at some point, demonstrating his personal sorrows and nationalistic ideology. His collections were entitled Basne [poems] (1875) and Sluncem a stinem [in sun and shade] (1887). 4. Development of Czech Theater Early theater in Czech was mainly composed of secular and liturgical dramas that present religious themes. These dramas were usually performed by professional actors and magicians. The Baroque Jesuit Drama was usually school plays that were run by the Jesuit Order of Priests in the 16th and 17th century. The theme was usually about country folk as presented to the urbanized public. Professional theater was made available by foreign performers who traveled from one country to another. They are usually Germans and English, some others Italians, as well as French. Theater, did not escape the National Revival Project of the Czechs. Performances are to be executed using primarily the Czech language. Vlastenecke divadlo or the Patriotic Theater, the Bouda or the Shack, and the Nostitz Building of the National Theater, were the beginning of Czech Porfessional Theater. Czech professional theater reached the countrysides through J. A. Prokop’s company theater where they made their performances using puppets in 1849. Finally, the opening of the Prozatimni Divadlo or Provisional Theater in 1862, Czech Theater created its own identity apart from German Theater. Consequently, the first generation of Czech Porfessional actors emerged like Josef Jiri Kolar and Anna Kolarova-Manetinska. Czech Opera also grew unexpectedly with seven premieres by Bedrich Smetana and five Antonin Dvorak (Czech Republic Website). The opening of the National Theater in Prague in 1883 introduced Czech Theater to the whole of Europe. Performances in Czech language started to increase and styles such as realism and naturalism developed. Then in the beginning of the 20th century the avant-garde of Czech theater materialized and the works of Jiri Mahen, Frana Sramek and Viktor Dyk, ushered the symbolist and impressionist dramas. A new style of acting was also developing through focusing on the mind and pysche of the character, and this was presented by Hana Kvapilova and Eduard Vojan, among many others. The Municipal Theater at Kralovske Vinohradyopened in Prague in 1907, and Karel Hugo Hilar performed the art of expressionism in theater. The development of Czech Theater was accompanied by the growth of Czech Theater Critics as well as magazines such as Scena were published. In 1918, wherein the development of an Independent Czechoslovakia was starting to brew, litearary works became rampant representing nationalistic ideas and usage of Czech language. Styles such as Avant-garde in Fantasy and Comedy also emerged. However, when the Nazi Occupation reached Czechoslovakia, all theaters were closed in 1944. Then in 1948, Czech theater emerged again with a new purpose, Socialist Realism. This was mainly a propaganda of the communist regime to spread out their doctrines. But, in 1950s, small theaters took forms apart from the â€Å"official† theater, that fascinated a larger group of non-conformist audiences. This is where the famous Czech writer Milan Kundera began writing for theater. 5. Compare city and village prose Czech literature was not clearly divided accordingly as city and village prose. Through out the thorough research, no mention as to the theme about city or village was encountered, however, an inkling that the oral literature of Czech could perhaps be defined as village prose. Since Czech literature in its oral form existed before the coming of any influence, from the urban cities or from the west, folk poetry was used. Another is the emergence of Catholic themes that could probably date back as far as 863 A. D. when Moravia and Bohemia were converted into Christianity through the labors of St. Cyril and St. Methodius. All Czech literature began in this era and with the exception of Bulgarian literature, Czech literature is the oldest and the richest. Themes range from secular and religious prose and liturgies of the Catholic Church. As with the city prose, conceivably emerged through the influx of other styles as Czech literature moved on. With the addition of the romanticism that relates knight’s tales and crusaders and the feasts that were held in honor of them. Humanism that copied Roman and Greek literature, and Avant-garde styles such as impressionism and expressionism and political themes could also be referred to as city prose. 6. Compare the literary groups Ruch and Lumir In the 1840s, with the rise of Czech literature, publications and journalism were also growing on its own. These publications contributed a lot for the political liberation of Czech from Austria. Literary periodicals that are closely connected with this political theme are the Lumir and Ruch. Lumir begun c. 1875, focused on the need to develop a Czech literature that would reach the level of international standards through the writings of Jaroslav Vrchlicky and Julius Zeyer. Ruch, who started in 1868, however, focused on strengthening national traditions and themes through the writings of Josef Vaclav Sladek and Svatopluk Cech. Both periodicals were directed towards patriotism and nationalism through publishing writers that have some say about the political situation of the country. These writers, expressed their love for Czechoslovakia by creating historical novels such of Alois Jirasek or was commonly known as ‘the Czech Walter Scott’, (1851–1930). Works Cited Czech and Slovak literature. † Crystal Reference Encyclopedia. Crystal Reference Systems Limited. 06 Dec. 2007. Reference. com http://www. reference. com/browse/crystal/08865

Greek Mythology View’s of Creation Essay

The story of the creation of the universe has many different versions. In some cultures it is believed that the universe was created by the procreation of the Deathless Creatures. Other cultures believe that the creation of the universe resulted from a big bang in which all of the elements in the world gathered together to create a huge mass and then burst to create life. Lastly, and the most believed version, is that the creation of the universe came from a God who would create the world and everything in it. In the ancient cultures, the Greeks and Romans had many different versions of how the universe was created but most looked to the versions by Hesiod and Ovid. Hesiod was a famous oral poet in Ancient Greece. He is thought to have lived between 750 and 650 BC, but no one knows for sure. Along with Homer, Hesiod is believed to be the earliest of the Greek poets. But it is hard to prove which one had come first. Not only did his writings serve as entertainment, but they were also used in other aspects of Greek living. He taught them farming techniques and is believed to have been the first economist. Not only was he a businessman but he also was keen in astronomy and ancient time keeping. Hesiod is a very important man in Greek History and his early writings showcase his abilities. Theogony by Hesiod gives a Greek version of the creation of the universe. In this book, Hesiod describes how the entire universe was created from the Deathless Creature, Gaia. But he described that before Gaia came, the only thing that was in existence was Chaos. â€Å"In truth at first Chaos came to be† (Hesiod, Theogony 116). According to Theogony, Chaos suddenly rose out of nothing. Hesiod talks about how me might have been created from the area between Gaia, earth, and Tartarus, a massive pit in the earth below the underworld. After Chaos, Gaia was the next creature to be created. It was created as a place for the Gods and mortals to live in peace and harmony. With Gaia came the terrain of the world. The next Deathless Creature that came was Tartarus, a massive pit in the earth below the underworld. Ironically, Tartarus is where Zeus would banish all of the Deathless Creatures. What interested me is that the next Deathless Creature from Hesiod’s story of creation is Eros. Eros is the personification of love. I started to wonder how all of the other gods were created if there was no such thing as procreation at the time. And then I did some research and learned that before Eros the Gods were created through parthenogenesis. According to Webster’s Dictionary, Parthenogenesis is â€Å"development of an egg without fertilization†. This occurs when a male and female specimen is not needed to create an embryo. Just like the hammerhead or the blacktip shark, which can procreate without a male being. Eros changed the ways of the world with love. Chaos had many children, including Erebus and Nyx. Erebus and Nyx were born roughly around the same. Erebus was the male personification of the darkness while Nyx was the female personification of the night. Erebus and Nyx then went on to have children, Aether, the atmosphere and Hemera, the day. â€Å"From Chaos came forth Erebus and black Night Nyx; of Night were born Aether being the bright upper atmosphere and Day Hemera, whom she conceived and bore from union with Erebus her brother† (Hesiod 11. 116-138). The next lines in Theogony talk about Gaia giving birth to two children, Pontus and Uranus. All of the creatures represent something, this trend continues with Gaia’s children. Pontus represents the sea and Uranus represents the heavens. She created them so that she would be covered. Finally, after all of the deathless creatures were created, Gaia and Uranus came together to make the first real gods, which were known as the Titans. There were twelve Titans in all and are referred to as the second generation. The male Titans were: Oceanus, Hyperion, Coeus, Cronus, Crius, and Lapetus. The female Titans were: Mnemosyne, Tethys, Theia, Phoebe, Rhea, and Themis. Along with the twelve Titans, there were also three Cyclopes and three Hekatonkheires born. In Hesiod’s Theogony, Uranus was so disgusted by his children, the Hekatonkheires, that he banished them somewhere in Gaia. Gaia was so upset that she told her Titans to punish their father. The only one that was willing to do so was the youngest, Cronus. He castrated his father as revenge. From the castration many more creatures were born. For example, the furies were born from the blood that was spread all throughout the Earth and Aphrodite was born when Cronus threw the severed private parts into the Sea. The third and final Generation to be born from the deathless creatures was the children of Cronus and Rhea. It was prophesized to him that one of his children would over throw him. Cronus took preemptive measures and thought out an ingenious plan of swallowing his children after they were born. He had six children and one-by-one he would swallow them. His first-born child was named Hestia who was subsequently eaten. Soon to follow in her path were Demeter, Hera, Hades and Poseidon. Zeus was the last child to be born, but Rhea could not stand to see another one of her children eaten so she replaced him with a stone. The poem does not state how, but Cronus puked up the remaining five children and they all waged war on their father. Zeus would eventually win and become king. He would then do what many of the other gods had done and banish his father. He sent them all to the bottom of Tartarus where they would never be able to escape. Hesiod’s Theogony first starts off the creation process by bringing darkness, Chaos, and creating things from that. Then it gets into the procreation of the brothers and sisters, and mothers and sons. From that point, the Olympic gods mate with each other and mortal humans as well. This is one version of the Greek story of the Creation of the Universe. Ovid is a Roman poet and in his poem, Metamorphoses, it also speaks of the creation of the universe. In his poem, he splits up the human race into Four Ages: Gold, Silver, Bronze, and Iron Ages. They tell of different times in the universe’s history. At first, there is nothing. Then a god comes and organizes everything and puts it where it’s supposed to be. For example, he puts fire in the farthest part of the universe and so forth. Ovid then gives 3 stories of how mankind was created recreated. First, It then talks about how the god, Prometheus, created the human race as a replica of the God. Then Ovid talks about a war that goes on between the gods and the Giants. During that war the giants stack mountains on top of each other to reach Mount Olympus. But Zeus then knocks over the pile of mountains and all of the Giants are crushed under the rubble. Meanwhile, their blood seeps through the earth. From the blood, humans arose. The final form of creation that Ovid speaks of occurs after the flood. Zeus is upset with the Humans and wants to kill all of them. He sends a massive flood to the earth to wipe them all out. When he comes to a hill he sees two pious people and decided to let them live. The two survivors, Deucalion and Pyrrha, are the ones with recreate the human race. They take the mother bones and throw them over their shoulders. From each bone, a human would sprout up. In the Bible, the story of Genesis talks about the creation of the universe. It states the God created the universe in sex days and rested on the seventh. On each day God creates a different thing. The last thing he creates was the human race. He created them last and they were created as an image of God. According to the two poems and the chapter in the Bible, the story of the creation of the universe happened it three very different ways. In Hesiod’s version, the world and nature around it all came from Mother Earth, Gaia. And the human race came from the love that was spread by Aphrodite and Eros. In Ovid’s version, the world was a chaotic mess and it was an unknown god that restored order into the world. The bible is the only version to give a time of how long it took to create the world and everything in it. Even though there are many differences in the stories, there are also a lot of similarities as well One similarity that all of the accounts of creation hold are the human race was last to be created in all versions. Mankind came after everything in the world was created for them. Another similarity is that the humans were created as an image of God. Lastly, the final similarity that comes from all the versions is; the universe started off as nothing (pure darkness) and then a god came and began the process of creation. In conclusion, Hesiod’s version of creation takes about the promiscuous ways of the gods and titans. Their promiscuity is what created the world and everything in it. According to Ovid’s version, an unknown god created the world and everything in it and gives stories of how the humans were created and recreated. In the Book of Genesis, God created the world in seven days; as well as everything in it. All three versions of creation did have some differences in their stories, but in they all ended with the creation of mankind. Works Cited Hesiod, and Norman Oliver Brown. Theogony;. New York: Liberal Arts, 1953. Print. â€Å"Hesiod’s Creation Myth. † Women in Greek Myths. Web. 06 Dec. 2010. . Ovidius, and Mary M. Innes. The Metamorphoses of Ovid. Harmondsworth, Middlesex: Penguin, 1985. Print. Separating, By. â€Å"Xeno. ovid2. † Larryavisbrown. Web. 06 Dec. 2010. . â€Å"SparkNotes: Metamorphoses: Plot Overview. † SparkNotes: Today’s Most Popular Study Guides. Web. 06 Dec. 2010. . â€Å"Theogony. † Free Book Reviews | Book Summaries | Shvoong – Summaries & Reviews. Web. 06 Dec. 2010. . â€Å"The Theogony of Hesiod. † Internet Sacred Text Archive Home. Web. 06 Dec. 2010. .

North Street Primary School Upgrade Proposal Essay

North Street Primary School Upgrade Proposal - Essay Example The utilization of artificial lights in the presence of natural light makes the structure to be less friendly to the environment and thus contribute in emitting greenhouse emissions and harm the structure economically by increasing the energy bill for the structure. North Street Junior School is facing the similar problem thus it needs few amendments to cure the problems related to the greenhouse emission and the energy consumption. The school utilizes the artificial lights to enlighten the inner building and utilize maintain the temperature by utilizing the electricity. All the classrooms have radiators that help maintain the temperature during all seasons. In general, the building of the school is an old patterned building that utilizes an immense amount of energy for all the systems. In my view, the building was such made to restrict the outer air from being penetrated into the building but due to the lack of technology, it also restricted the natural lights from penetrating into the building that is the major reason for its higher energy consumption. On the other hand, the utilization of the fossil fuel and electricity based temperature controlled system also consumes a major portion of the electrical energy increasing the number of carbon footprints. At some place lack of insulation permits the inner atmosphere to diffuse into the outer environment making the temperature control unit to work more than required. The School is surrounded by smaller building, thus allowing a lot of light to be faced by the building (Cayless, & Marsden, 1997, p45-122). The immense amount of light may serve as to enlighten the building and to provide warm water and air to be circulated to the school. However, the dominant feature of the building is that the building is a symbol of cultural heritage and it should be touched little but implementing effective alteration in the building to consume lower energy units and reduce the greenhouse gas emissions. Thus, the solar water hea ters should be placed over the roofs of the building to capture the solar energy and heat the water and then circulate the heated water into the building. The structure is an attraction for its architecture and limits the renovation and thus it can be considered the biggest disadvantage of the building to make it green. The site of the school can be utilized to implement the energy-saving tactics. The ground can also help in maintaining the temperature inside the building through the process of geothermal heating (Level, n.d). In the geothermal process, water circulating pipes are buried into the ground about 4 to 10 feet under the surface. As the temperature inside the surface remains constant to 18-25 degrees on the Celsius scale, the circulated water through the ground attains the similar temperature and thus can be utilized to maintain the temperature inside the building by circulating the water. In general conditions, the thermal energy is provided by electrical energy or burni ng natural gas or oil, which is responsible for the increase in the carbon footprints(Burberry, 1997, p17-73). The better way is to utilize the alternate sources instead of conventional resources of energy. However solar heating is considered to give better results, more warn and less humid air. On the other hand, electric or gas heaters consume a huge amount of resource and emit a large proportion carbon dioxide.

Regina Carter Assignment Example | Topics and Well Written Essays - 500 words

Regina Carter - Assignment Example With her album, Regina Carter pays tribute to her grandfather who worked as a coalminer in Alabama and whom he never saw (â€Å"Violin Virtuoso Regina Carter†). The entire album is the mix of folk jazz, contemporary jazz, gospel, country music, spirituals, blues and R&B. Personally for me, the most striking and interesting pieces appeared to be I’m Goin’ Home, See See Rider, and Trampin’; they impressed me greatly. The melody of I’m Goin’ Home reminded of a traditional spiritual. The piece started with the guitar party which was then picked up by accordion. The piece reminded of a spiritual because of its emotional coloring and the way the instruments, guitar, accordion, and violin, reflected longing and even homage. The piece was performed moderato, and such a choice of tempo created the feeling of spaciousness. In the piece titled See See Rider Regina Carter used elements of country music. In fact, it was the melody that reminded of some rural song. The main thing that defined the piece as jazz was the rhythm. More specifically, the piece was characterized by syncopation and swung notes. However, the most notable was the second part of See See Rider because of the soloist’s masterful improvisation. Trampin’ was the piece that impressed me most of all. It was so because of its funky and greasy character. It is possible to say that there were two lines in the piece. The first line was comprised of the parties of drums, guitar and recorded vocal party, and the second was the actual party of the soloist. The piece was also energetic because of the great number of syncopations and swung notes characteristic of blues. Overall, the jazz concert was the best I had ever attended. First of all, music itself was so sophisticated and full of emotional honesty. Secondly, performance was amazing as well. Not only the soloist, Regina Carter

Zara's Supply Chain Methods Case Study Example | Topics and Well Written Essays - 1750 words

Zara's Supply Chain Methods - Case Study Example The USP can be identified using the business model of Zara and by understanding its competitive edge over other players in the market. The case also aims at developing a strategic analysis of the market conditions, communication, branding and the competition faced by Zara. Zara does not advertise as much as its competitors. Its average advertising spend is 0.3% while 3-4% is the standard industry spend. This gives them a strategic cost advantage against their competitors. This also makes their expansion strategies more economical. The main alternative to advertising used by Zara is its store layouts and displays. Zara has a team of around 200 people exclusively working on acquiring global prime real-estate locations. They are also responsible for frequent refurbishing of the stores and creative window displaying. There is a testing facility in their headquarters where different layouts are tested and the best is selected for various stores at different locations. The peculiar business model of Zara helps them in reducing their advertising store by giving them alternative options to attract customers. This is by influencing the buying behaviors of customers. Zara updates its collection twice every week. So a usual customer of Zara knows that new styles will be awaiting them every week, making them want to pay another visit very soon. Also, if a customer does not find anything interesting to buy, he knows that he will get more choices in the coming week. New styles in Zara are added very frequently, but are not replenished. This creates a scarcity and the customers of Zara pay frequent visits to the stores so that they don't miss out on certain styles. Zara, because of its unique branding has got itself a cult image through the years. Each Zara store is redesigned every 5 years to keep up with the current fashion. Zara targets a broad range of customers and do not define their target market by age and lifestyle like traditional retailers. They target people of all age group who are educated and are sensitive to fashion and react to changes in fashion. As fashion is more globalized in recent times, Zara offers standardized fashion wear. Also, their pricing strategy is different. Outside of Spain, and particularly in the UK, it is based on more premium prices. Partly to compensate for higher distribution and rental costs, prices can be up to 40 per cent higher. Zara's positioning as an aspiration brand in the UK has the added benefit of giving the perception of clear water between itself and mass-market fast-fashion rivals such as New Look or H&M. STRATEGIC ANALYSIS USING ANSOFF'S MATRIX Market Penetration Strategy Through its unique business model, Zara encourages its existing customers to buy more. Every new style reaches the store shelves from design table in about two weeks. This fast-fashion methodology helps in remaining updated to the latest trends and makes the customers visit the stores more often. This quick inventory turnover is due to its vertically integrated supply chain and its total control over its system. Market Development Strategy Zara identifies potential segments in the market as a first step in their market development. By giving equal importance to all such segments, Zara

Seoul City Essay Example | Topics and Well Written Essays - 500 words

Seoul City - Essay Example Ostensibly, the Korean people learned how a conflict can paralyze the economy of a country. The term is a representation of rapid industrialization, urbanization, economic boom, education boom, technological advancement, skyscraper boom, a rise in living standards and modernization. This culminated in the successful hosting of the 1988 Summer Olympics Championship. Additionally, Seoul City co-hosted the 2002- FIFA World Cup. Consequently, the country transformed from the near destruction of the Korea War into globalization and democratization. The city is celebrated as wealthy, developed with sound economic viability and exerting a global economic influence (The Korean Economy - the Miracle on the Hangang River). Currently, it boasts of prominent multinational companies such as Samsung, Hyundai-Kia, and LG. More specifically, the term refers to the economic growth of Seoul city through which River Han flows. It is fascinating to note that it is termed a ‘miracle’ as it r epresents the economic rebirth of the country between the periods 1961 to 1996. Initially, the country was crippled by the Korean War that saw an escalation of poverty levels and unemployment rates. Interestingly, in less than four years, Seoul became a global city, a highly developed economic hub, center of business and commerce. It opened grounds for technological advancement and the development of communication infrastructure. Currently, the inhabitants consider the opulence as national pride as well as a symbol of self-sufficiency.