Pollution and Save Earth Essay Example

Contamination and Save Earth Essay Our planet is in incredible peril. The individuals of earth have squandered and abused the characteristic recourses of earth. A few plans have been created to stop the maltreatment of earth. Natural issues have become so mind boggling that numerous people feel they can have no impact on them. Issues like oil slicks, perilous waste, loss of downpour woodlands, imperiled species, corrosive downpour, the ozone layer, the civil waste emergency can feel out of our control. In any event, these issues require gathering and corporate activity or government intercession. Notwithstanding, there are a few things the individual can control. Our waste decrease and reusing exercises can have any kind of effect. Pollutionâ is the presentation of substances or vitality into the earth, bringing about injurious impacts of such a nature as to imperil human wellbeing, hurt living assets and biological systems, and debilitate or meddle with civilities and other real employments of the earth. [1] The significant types of contamination include: If only 25% of U. S. families utilized 10 fewerâ plastic bagsâ a month, we would spare more than 2. 5 BILLION sacks every year. By and large, the 140 million vehicles in America are evaluated to travel right around 4 billion miles in a day, and as indicated by the Department of Transportation, they use more than 200 million gallons of gas doing it. Consistently we discard 24 million tons of leaves and grass. Takes off alone record for 75% of our strong waste in the fall. Americans utilize 50 million tons ofâ paperâ annually expending in excess of 850 million trees  A late investigation from Toronto Public Health assesses more than 440 passings every year in the Canadian city can be legitimately credited to traffic discharges. As per the US-EPA, discharges from power plants add to more than 2,800 lung disease passings and 38,200 respiratory failures every year in the US. As per the World Health Organization (WHO), around 2 million unexpected losses are caused every year because of air contamination in urban communities over the world Car contamination influences nature from numerous points of view. From clamor contamination to air contamination to water contamination, vehicle contamination impacts the earth on an enormous level. We will compose a custom article test on Pollution and Save Earth explicitly for you for just $16.38 $13.9/page Request now We will compose a custom exposition test on Pollution and Save Earth explicitly for you FOR ONLY $16.38 $13.9/page Recruit Writer We will compose a custom exposition test on Pollution and Save Earth explicitly for you FOR ONLY $16.38 $13.9/page Recruit Writer

Network Security setup Research Paper Example | Topics and Well Written Essays - 2000 words

System Security arrangement - Research Paper Example WAN area is an important space particularly while associating with remote clients. In Richman ventures, it implies interfacing with a few branches in spots, for example, Atlanta, Georgia, Cincinnati, Ohio, and even Los Angeles, California from the home office in Phoenix, Arizona. So as to guarantee security at this area, it is prescribed to guarantee appropriate tending to plans, legitimate convention choice and improved encryption of correspondence types of gear. In Richman ventures, the database programming, working framework, customer server applications, and information put away in the associations community and their equipment is all things considered under this area. Safety efforts vital at this stage is legitimate validation, quality system structure, approval, hub security, and bookkeeping are a basic security contemplations at this space. Other safety efforts that can be executed inside the company’s IT framework incorporates taking out single purpose of disappointment, improving security access to delicate information and guaranteeing that there is information reinforcement in servers outside the fundamental server farm.

Economics Basics Production Possibility Frontier, Growth, Opportunity Cost and Trade

Economics Basics Production Possibility Frontier, Growth, Opportunity Cost and Trade Sometimes w? ??k ?u??ti?n? like who inv?nt?d th? ???n?m?? I know Ive ??k?d that ?u??ti?n a couple of tim??. H?w did we g?t there? How did w? g?t t? this ??int in tim? where v?r? thing i? ??l?ul?t?d with ???n?mi? g?in? in mind?Actually, the real ?u??ti?n i? was th?r? ?v?r a time wh?r? economics didnt m?tt?r? Wh?n tr?d? didnt m?tt?r or when a ??r??n didnt w?nt to gr?w hi? bu?in????I gu??? not.Wh?n man started b???ming wise, h? ?t?rt?d inv?nting economic th??ri??, ?v?n th?ugh ?t the tim?, they weren’t thought as theories.Man b?g?n t? ?t?r? f??d.Eventually, h? ?t?rt?d tr?ding hi? own food f?r ??m?thing else h? didnt h?v?. It wasnt l?ng before th? b?rt?r system was ?ffi?i?ll? inv?nt?d.In the end, th?t t?? ?v?lv?d into th? money system (g?ld ?t th? tim?) ?nd n?w, P???r m?n??. E??n?mi?? principles h?v? ?lw??? been with m?n.Aft?r all, man th?? say is a social ?nim?l.In thi? ?rti?l?, w? w?uld be discussing b??i? ???n?mi?? concepts. Because economics inv?lv?? a l?t of diff?r?nt sub di??i?lin ??, w? w?uld focus onProduction P???ibilit? frontierGr?wthO???rtunit? costTr?d?BUT FIRST OFF, WHAT IS ECONOMICS? Th? discipline w?? r?n?m?d in the l?t? 19th century primarily du? to Alfred M?r?h?ll from political ???n?m? t? ???n?mi?? ?? a shorter t?rm f?r ???n?mi? ??i?n??.At th?t tim?, it b???m? more open t? rig?r?u? thinking and made in?r????d u?? ?f m?th?m?ti??, whi?h helped ?u???rt ?ff?rt? to have it ?????t?d ?? a ??i?n?? and ?? a separate di??i?lin? ?ut?id? ?f political science and ?th?r social ??i?n???.The ultimate g??l ?f ???n?mi?? i? to improve the living ??nditi?n? of ????l? in th?ir everyday life.E??n?mi?? is a complex subject filled with a m?z? ?f ??nfu?ing terms and d?t?il? which can b? diffi?ult to ?x?l?in.Ev?n ???n?mi?t? h?v? trouble d?fining ?x??tl? what ???n?mi?? m??n?. Y?t, there i? n? d?ubt th?t th? economy and the things we l??rn thr?ugh economics affect ?ur ?v?r?d?? liv??.In short, economics i? th? ?tud? ?f how ????l? and gr?u?? ?f ????l? use th?ir r???ur???. M?n? ? ??rt?inl? i? ?n? ?f those resources, but other thing? ??n play a role in economics ?? w?ll.Economics i? divid?d int? tw? g?n?r?l ??t?g?ri??: mi?r????n?mi?? and m??r????n?mi??. On? l??k? ?t the individual m?rk?t? while th? other l??k? at ?n entire economy.Fr?m there, we can n?rr?w ???n?mi?? int? a numb?r ?f ?ubfi?ld? ?f ?tud?.Th??? include ???n?m?tri??, ???n?mi? development, agricultural ???n?mi??, urb?n ???n?mi??, Pr?du?ti?n P???ibilit? Frontier, Gr?wth, O???rtunit? Cost, Trade ?nd mu?h m?r?.If you have ?n int?r??t in h?w th? world works ?nd how fin?n?i?l markets ?r indu?tr? outlooks affect the economy, ??u might ??n?id?r studying ???n?mi??.Its a f???in?ting fi?ld and has career potential in a number ?f disciplines, fr?m fin?n?? t? sales t? th? government.Macroeconomics ?nd Mi?r????n?mi??Th? m??t common divi?i?n ?f ???n?mi?? i? th?t which separates m??r????n?mi?? fr?m mi?r????n?mi??. Th? diff?r?n?? b?tw??n macro and micro w?? introduced in 1933 b? th? Norwegian, Ragnar Fri??h.The ?rigin of the words says a lot about th?ir m??ning: in Gr??k, m??r? m??n? big ?nd mi?r? m??n? ?m?ll.Mi?r????n?mi??Microeconomics i? th? ?tud? of d??i?i?n? th?t people and bu?in????? make r?g?rding th? ?ll???ti?n of resources ?nd ?ri??? of g??d? and ??rvi???. Thi? means ?l?? t?king into ????unt t?x?? and r?gul?ti?n? ?r??t?d b? g?v?rnm?nt?.Microeconomics f??u??? on supply ?nd demand and ?th?r forces th?t determine th? ?ri?? l?v?l? ???n in th? ???n?m?.F?r ?x?m?l?, mi?r????n?mi?? would l??k at how a specific ??m??n? could maximize it? ?r?du?ti?n and ?????it?, ?? th?t it could lower ?ri??? ?nd b?tt?r ??m??t? in it? indu?tr?.M??r????n?mi??John M??n?rd Keynes is ?ft?n ?r?dit?d with f?unding m??r????n?mi??, wh?n he initi?t?d the use of monetary ?ggr?g?t?? t? ?tud? br??d ?h?n?m?n?.Macroeconomics, i? th? field of ???n?mi?? that ?tudi?? th? b?h?vi?r of th? ???n?m? as a wh?l?, n?t ju?t of specific companies, but ?ntir? indu?tri?? and ???n?mi??.It looks ?t economy-wide ?h?n?m?n?, ?u?h ?? Gr??? D ?m??ti? Pr?du?t (GDP) and h?w it i? ?ff??t?d by changes in unemployment, n?ti?n?l income, r?t? of gr?wth, and ?ri?? levels.F?r ?x?m?l?, macroeconomics would l??k at h?w ?n in?r????/d??r???? in net exports w?uld ?ff??t a n?ti?n? capital ????unt ?r h?w GDP w?uld be ?ff??t?d b? th? unemployment rate.TR?D? Th? t?rm “trading” ?im?l? m??n? “exchanging one it?m f?r another”. W? usually understand thi? t? be th? exchanging ?f g??d? f?r m?n?? ?r in other words, ?im?l? buying ??m?thing.Tr?d? i? a b??i? ???n?mi? ??n???t inv?lving th? buying and selling ?f g??d? ?nd ??rvi???, with ??m??n??ti?n paid by a bu??r to a seller, or the exchange ?f g??d? ?r ??rvi??? between ??rti??.Th? m??t ??mm?n m?dium ?f exchange f?r th??? tr?n???ti?n? is m?n??, but tr?d? m?? ?l?? b? ?x??ut?d with the exchange of g??d? or ??rvi??? between b?th ??rti??, r?f?rr?d t? as a barter, or payment with virtual ?urr?n??, th? m??t ???ul?r of whi?h is bitcoin.In fin?n?i?l m?rk?t?, trading r?f?r? t? th? bu?ing ?nd selling ?f securities, ?u?h ?? th? purchase ?f stock on th? floor of th? N?w York St??k Exchange (NYSE).Tr?d? refers to tr?n???ti?n? ranging in ??m?l?xit? fr?m th? ?x?h?ng? ?f baseball ??rd? between collectors to multin?ti?n?l policies setting protocols for im??rt? ?nd exports between ??untri??.Regardless ?f th? ??m?l?xit? ?f th? tr?n???ti?n, trading i? facilitated thr?ugh three primary t???? ?f exchanges. Tr?d?? are ?x??ut?d with th? ???m?nt ?f ??v?r?ign ?urr?n??, the ?x?h?ng? ?f g??d? ?nd services, ?r payment with a virtual ?urr?n??.Mediums ?f ?x?h?ng?M?n??, whi?h also fun?ti?n? as a unit ?f account ?nd a ?t?r? ?f v?lu?, is th? m??t common medium of ?x?h?ng?, providing a v?ri?t? ?f m?th?d? for fund transfers b?tw??n bu??r? ?nd ??ll?r?, in?luding cash, ACH tr?n?f?r?, credit ??rd? ?nd wir?d fund?.Money’s attribute as a ?t?r? ?f v?lu? also provides ???ur?n?? that fund? r???iv?d by ??ll?r? as ???m?nt for g??d? ?r services ??n be u??d t? m?k? ?ur?h???? of ??uiv?l?nt value in th? futur?.Cash less trades inv?lving th? exchange ?f goods ?r ??rvi??? between ??rti?? ?r? r?f?rr?d to ?? b?rt?r tr?n???ti?n?. Whil? barter is ?ft?n ?????i?t?d with ?rimitiv? or und?v?l???d ???i?ti??, th??? tr?n???ti?n? are also u??d b? l?rg? ??r??r?ti?n? ?nd individu?l? as a m??n? ?f g?ining g??d? in exchange for excess, und?rutiliz?d ?r unwanted ????t?.For ?x?m?l?, in th? 1970?, P???iC? In?. set u? a barter ?gr??m?nt with the Ru??i?n g?v?rnm?nt to tr?d? ??l? syrup f?r St?li?hn??? v?dk?. In 1990, th? d??l w?? expanded to $3 billi?n dollars ?nd in?lud?d 10 Russian-built ?hi??, whi?h PepsiCo leased ?r sold in the years f?ll?wing th? ?gr??m?nt.A? th? n?w??t m?dium ?f ?x?h?ng?, virtual ?urr?n?i?? do not ?x???? h?ld?r? t? f?r?ign ?x?h?ng? ri?k?, provide ?n?n?mit? between tr?ding ??rtn?r? if desired ?nd avoid th? often-significant ?r?????ing f?? f?r credit cards.Th? most ???ul?r virtu?l ?urr?n?? i? bitcoin, which w?? intr?du??d in 2009. Bitcoins are h?ld in virtu?l wallets and can b? u??d with a gr?win g number of m?r?h?nt?, in?luding W?rdPr???.??m ?nd Ov?r?t??k.??m.The virtual currency i? ?l?? ???ul?r with small bu?in?????, du? in ??rt t? th? l??k ?f ?r?????ing f???.Supply ?nd d?m?nd in tr?dingIncrease in demand m??n? an increase in ?ri??W? ??n ?x?l?in this using a ?im?l? everyday ?x?m?l? of bu?ing f??d. L?t’? ??? ??u ?r? in a m?rk?t and there are ?nl? ten ???l?? l?ft on a stall. Thi? is th? only place where ??u can bu? ???l??.If you are th? ?nl? ??r??n ?nd you ?nl? w?nt a couple of apples, then th? m?rk?t ?t?ll ?wn?r will m??t likely sell them t? you ?t a r????n?bl? ?ri??.Now lets say th?t fift??n ????l? ?nt?r the m?rk?t and th?? all w?nt apples. To m?k? sure th?t th?? will ??tu?ll? g?t th?m b?f?r? the ?th?r? d?, th?? are willing to ??? m?r? f?r th?m. H?n??, the m?rk?t ?t?ll owner ??n put th? price up, b???u?? h? kn?w? th?t th?r? i? m?r? d?m?nd for th? ???l?? than ?u??l? ?f th?m.Once th? apples r???h a ?ri?? ?t whi?h th? customers think th?? ?r? too ?x??n?iv?, th?? will th?n ? t?? bu?ing th?m.Wh?n the m?rk?t ?t?ll owner r??li??? th?t h? i? n?t ??lling hi? ???l?? anymore because they ?r? t?? ?x??n?iv?, h? will ?t?? r?i?ing th? price ?nd it m?? come b??k d?wn t? a level, ?t whi?h ?u?t?m?r? will start t? buy the ???l?? ?g?in.In?r???? in supply m??n? a d??r???? in priceLet’s ??? th?t suddenly ?n?th?r m?rk?t ?t?ll ?wn?r ??m?? int? th? market ?nd h?? ?v?n more ???l?? t? ??ll.Th? ?u??l? ?f ???l?? h?? n?w in?r????d dramatically.It ?t?nd? to r????n that the ????nd m?rk?t ?t?ll ?wn?r may w?nt to ??ll ???l?? at a cheaper price th?n the fir?t stall ?wn?r to entice ?u?t?m?r?. It ?l?? stands t? r????n th?t the customers w?uld probably w?nt t? buy at th? lower ?ri??.S??ing thi?, th? fir?t ?t?ll ?wn?r will m??t lik?l? bring hi? ?ri??? down. Th? sudden in?r???? in ?u??l? has th?r?f?r? br?ught the ?ri?? of the apples down.Th? price at whi?h d?m?nd matches ?u??l? i? called th? “market ?ri??”, i.e. the ?ri?? l?v?l at which b?th th? market ?t?ll owner and th? customers ?gr?? on both a ?ri?? ?nd numb?r of ???l?? sold.WH?T I? OPPORTUNITY C??T The fundamental ?r?bl?m ?f economics is th? issue ?f scarcity. Th?r?f?r? we are ??n??rn?d with the optimal u?? ?nd distribution of these ???r?? r???ur???.Wherever there is ???r?it? we ?r? f?r??d to m?k? ?h?i???. If w? have $20, w? ??n ???nd it ?n ?n economic t?xtb??k, ?r w? can ?nj?? a meal in a r??t?ur?nt.If w? ???nd th?t $20 ?n a t?xtb??k, th? ????rtunit? ???t i? th? restaurant meal w? cannot ?ff?rd t? pay.O???rtunit? cost thus r?f?r? to a b?n?fit that a person could have r???iv?d, but g?v? u?, t? t?k? ?n?th?r ??ur?? of ??ti?n. St?t?d differently, ?n ????rtunit? cost r??r???nt? ?n ?lt?rn?tiv? giv?n up wh?n a d??i?i?n is made.Thi? ???t i?, th?r?f?r?, most r?l?v?nt for two mutually ?x?lu?iv? events.In investing, it i? th? diff?r?n?? in return b?tw??n a ?h???n investment ?nd ?n? th?t i? n??????ril? passed up.Sim?l? stated, ?n ????rtunit? ???t i? th? cost ?f a mi???d ????rtunit?. It i? th? opposite ?f the b?n?fit that w?uld have b??n gained h?d ?n action, n?t taken, been t?k?n the mi???d opportunity. Thi? i? a ??n???t u??d in ???n?mi??.A??li?d t? a bu?in??? decision, th? opportunity cost might r?f?r t? th? profit a ??m??n? ??uld have earned fr?m its ???it?l, equipment, ?nd real ??t?t? if th??? ????t? h?d b??n u??d in a different way. Th? concept of ????rtunit? cost may b? applied t? m?n? diff?r?nt situations. It should b? considered whenever ?ir?um?t?n??? ?r? such that ???r?it? n?????it?t?? th? ?l??ti?n ?f one ??ti?n over ?n?th?r.O???rtunit? ???t i? u?u?ll? defined in t?rm? of m?n??, but it m?? also b? ??n?id?r?d in terms of tim?, ??r??n-h?ur?, mechanical output, or ?n? ?th?r finite r???ur??.Examples of Opportunity CostsOn? w?? t? d?m?n?tr?t? th? concept of ????rtunit? ???t? i? through an ?x?m?l? of inv??tm?nt capital. A ?riv?t? inv??t?r ?ur?h???? $10,000 in a ??rt?in ???urit?, such ?? shares in a ??r??r?ti?n, and after ?n? ???r th? investment has appreciated in value t? $10,500. The inv?? t?r? return i? 5 ??r??nt.Th? investor considers other ways th? $10,000 ??uld have b??n invested, ?nd di???v?r? a b?nk certificate with ?n annual ?i?ld ?f 6 percent ?nd a government bond that ??rri?? an ?nnu?l yield of 7.5 ??r??nt. After a ???r, the bank ??rtifi??t? w?uld h?v? appreciated in v?lu? t? $10,600, ?nd th? g?v?rnm?nt b?nd would have appreciated to $10,750.Th? opportunity ???t ?f purchasing ?h?r?? is $100 r?l?tiv? t? the b?nk ??rtifi??t?, ?nd $250 relative t? the g?v?rnm?nt b?nd. Th? investors d??i?i?n to ?ur?h??? shares with a 5 ??r??nt r?turn ??m?? ?t th? cost ?f a l??t ????rtunit? to ??rn 6 ?r 7.5 ??r??nt.Expressed in t?rm? ?f tim?, ??n?id?r a ??mmut?r wh? chooses t? driv? to w?rk, r?th?r than using public tr?n???rt?ti?n.B???u?? of h??v? tr?ffi? and a l??k ?f ??rking, it t?k?? th? ??mmut?r 90 minut?? to g?t to w?rk. If th? ??m? commute ?n public transportation w?uld h?v? taken only 40 minutes, the ????rtunit? cost ?f driving w?uld b? 50 minut??. Th? ??mmut?r might n?tur? ll? h?v? chosen driving ?v?r public transportation b???u?? she had a u?? for th? ??r after w?rk ?r because ?h? could n?t h?v? anticipated tr?ffi? d?l??? in driving.Experience ??n ?r??t? a b??i? for futur? decisions, ?nd th? ??mmut?r m?? be l??? in?lin?d t? driv? n?xt tim?, kn?wing th? ??n???u?n??? ?f tr?ffi? ??ng??ti?n.In another ?x?m?l?, a ?m?ll bu?in??? ?wn? th? building in whi?h it ???r?t??, ?nd thus ???? no r?nt f?r office ?????.But thi? d??? n?t m??n th?t th? ??m??n?? cost f?r ?ffi?? ????? is z?r?, ?v?n th?ugh an ????unt?nt might treat it that w??. In?t??d, th? ?m?ll bu?in??? ?wn?r mu?t ??n?id?r the ????rtunit? ???t ?????i?t?d with r???rving th? building f?r it? ?urr?nt u??.P?rh??? the building ??uld h?v? b??n r?nt?d out t? ?n?th?r company, with th? bu?in??? it??lf r?l???t?d t? a l???ti?n with a high?r l?v?l of ?u?t?m?r traffic.The f?r?g?n? money fr?m these ?lt?rn?tiv? uses of th? ?r???rt? i? ?n ????rtunit? ???t ?f u?ing the ?ffi?? ?????, ?nd thu? ?h?uld be ??n?id?r?d in calcul ations ?f th? small businesss ?x??n???.Application ?f ????rtunit? ???tWhen making big decisions like bu?ing a home or starting a bu?in???, you will lik?l? ??ru?ul?u?l? r????r?h th? ?r?? ?nd ??n? ?f your financial d??i?i?n, but m??t of ?ur day-to-day ?h?i??? ?r?nt made with a full understanding of th? potential opportunity ???t?.If th??r? ??uti?u? ?b?ut a purchase, m??t people just l??k ?t th?ir savings ????unt ?nd check th?ir b?l?n?? before ???nding m?n??.F?r the m??t ??rt, w? d?nt think ?b?ut th? things that we mu?t giv? up wh?n w? make th??? d??i?i?n?.However, th?t kind of thinking could b? dangerous. The ?r?bl?m lies wh?n ??u never look ?t wh?t ?l?? ??u ??uld d? with ??ur m?n?? or buy things blindl? without considering th? l??t opportunities.Bu?ing t?k??ut for lun?h ?????i?n?ll? can b? a wise d??i?i?n, especially if it g?t? you ?ut ?f th? ?ffi?? when ??ur b??? i? thr?wing a fit.H?w?v?r, bu?ing one ?h????burg?r ?v?r? d?? for the n?xt 25 ???r? could l??d to ??v?r?l missed ????rtuni ti??.Aside fr?m the potentially harmful h??lth ?ff??t? ?f high ?h?l??t?r?l, investing th?t $4.50 ?n a burg?r ??uld add u? t? ju?t ?v?r $52,000 in th?t tim? fr?m?, ???uming a v?r? d??bl? rate of r?turn ?f 5%.Thi? is just ?n? ?im?l? ?x?m?l?, but th? core message h?ld? tru? f?r a v?ri?t? ?f situations. From choosing whether t? inv??t in ??f? tr???ur? b?nd? or deciding t? ?tt?nd a ?ubli? ??ll?g? over a ?riv?t? one in order t? g?t a d?gr??, th?r? ?r? ?l?nt? ?f thing? t? ??n?id?r wh?n m?king a d??i?i?n in ??ur personal fin?n?? lif?.While it m?? ??und like overkill to have t? think ?b?ut ????rtunit? ???t? every tim? ??u w?nt t? bu? a ??nd? b?r ?r g? ?n vacation, it? ?n im??rt?nt tool t? u?? to m?k? the b??t u?? of your money.An?th?r w?? t? d?m?n?tr?t? the concept of opportunity costs i? through ?n example of inv??tm?nt ???it?l. A private inv??t?r purchases $10,000 in a certain security, such ?? shares in a ??r??r?ti?n, and ?ft?r ?n? ???r th? inv??tm?nt h?? ???r??i?t?d in v?lu? to $10,500. Th? inv??t?r? return i? 5 ??r??nt.The investor ??n?id?r? other w??? th? $10,000 ??uld h?v? b??n inv??t?d, ?nd di???v?r? a b?nk certificate with an annual ?i?ld ?f 6 ??r??nt and a government b?nd that carries an annual yield of 7.5 ??r??nt. Aft?r a ???r, th? bank ??rtifi??t? w?uld h?v? ???r??i?t?d in value t? $10,600, ?nd th? g?v?rnm?nt bond would have ???r??i?t?d to $10,750.The ????rtunit? ???t of purchasing shares i? $100 relative t? th? bank certificate, and $250 relative to th? g?v?rnm?nt bond. The investors decision t? ?ur?h??? ?h?r?? with a 5 percent return ??m?? ?t th? ???t ?f a l??t ????rtunit? to ??rn 6 ?r 7.5 percent.Alth?ugh ????rtunit? ???t? are not g?n?r?ll? considered by ????unt?nt?â€"fin?n?i?l ?t?t?m?nt? ?nl? in?lud? ?x?li?it costs, or actual ?utl???â€"th?? ?h?uld b? ??n?id?r?d b? m?n?g?r?. M??t bu?in??? ?wn?r? do ??n?id?r opportunity ???t? whenever th?? m?k? a d??i?i?n about whi?h ?f tw? ????ibl? ??ti?n? t? t?k?.Sm?ll businesses f??t?r in ????rtunit? ???t? wh?n ??m?ut ing their ???r?ting expenses in order t? provide a bid ?r estimate ?n the ?ri?? ?f a job.F?r ?x?m?l?, a l?nd????ing firm m?? b? bidding on two j?b? ???h ?f whi?h will u?? half of its ??ui?m?nt during a ??rti?ul?r period ?f tim?.A? a r??ult, th?? will f?rg? ?th?r job ????rtuniti?? some ?f which m?? b? l?rg? and ??t?nti?ll? ?r?fit?bl?.O???rtunit? costs in?r???? the ???t of d?ing bu?in???, and thus ?h?uld be r???v?r?d wh?n?v?r ????ibl? ?? a portion ?f th? ?v?rh??d ?x??n?? charged t? ?v?r? j?b.PRODUCTION POSSIBILITY FRONTIER (PPF) Und?r the field ?f m??r????n?mi??, the ?r?du?ti?n ????ibilit? frontier (PPF) exists.D?finiti?n: Pr?du?ti?n ????ibiliti?? frontier (PPF), also kn?wn ?? production ????ibilit? curve ?r the tr?n?f?rm?ti?n ?urv?, indi??t?? th? m?ximum ?ut?ut ??mbin?ti?n? ?f tw? g??d? ?r ??rvi??? ?n economy ??n ??hi?v? b? fully u?ing ?ll ?v?il?bl? resources ?ffi?i?ntl?.A ?r?du?ti?n ????ibilit? frontier (PPF) ?h?w? the m?ximum ????ibl? ?ut?ut ??mbin?ti?n? of tw? g??d? ?r ??rvi??? ?n ???n?m? ??n ??hi?v? wh?n all r???ur??? ?r? full? ?nd ?ffi?i?ntl? employed. F??t?r? such ?? l?b?r, ???it?l ?nd t??hn?l?g?, ?m?ng ?th?r?, will ?ff??t th? resources ?v?il?bl?, whi?h will di?t?t? wh?r? th? ?r?du?ti?n possibility frontier li??.The PPF indi??t?? th? ?r?du?ti?n possibilities ?f tw? ??mm?diti?? when r???ur??? ?r? fix?d. Thi? m??n? that the ?r?du?ti?n of ?n? ??mm?dit? ??n ?nl? in?r???? when the production ?f th? other ??mm?dit? is r?du??d, due t? the availability ?f r???ur???.Th?r?f?r?, th? PPF m???ur?? th? ?ffi?i?n?? in whi?h tw? commodities ??n b? produced t?g?th?r, h?l?ing m?n?g?r? and l??d?r? decide wh?t mix of commodities ?r? most beneficial. Th? PPF assumes th?t technology is constant, resources are u??d ?ffi?i?ntl?, ?nd that th?r? i? n?rm?ll? ?nl? a choice between tw? ??mm?diti??.A ?r?du?ti?n ????ibilit? curve even ?h?w? th? basic ???n?mi? ?r?bl?m of a country h?ving limited r???ur???, f??ing ????rtunit? ???t? ?nd ???r?it? in the ???n?m?.Selecting ?n? ?lt?rn?tiv? ove r another ?n? i? known ?? opportunity cost. E??n?mi?t? u?? PPF to illu?tr?t? th? tr?d?-?ff? that arise from ???r?it?.Let’s l??k at examplesTypically, ????rtunit? ???t occurs wh?n a manager ?h????? b?tw??n tw? ?lt?rn?tiv? w??? ?f ?ll???ting business resources. In other words, if one ??ti?n i? ?h???n, the ?th?r ??ti?n i? f?r?g?n? or giv?n up.There i? a trade ?ff. H?n??, th? production possibility fr?nti?r ?r?vid?? an accurate tool t? illu?tr?t? the effects ?f m?king ?n economic ?h?i??.At any given ??int of a PPF, the ??m??n? ?r?du??? ?t m?ximum ?ffi?i?n?? b? fully u?ing it? resources. At ?n ???n?mi? level, thi? i? known ?? th? P?r?t? efficiency, whi?h suggests th?t, when ?ll???ting r???ur???, th? ?h?i?? of one will worse off th? ?th?r. Al??, any ??int inside th? PPF is inefficient b???u?? ?t th?t ??int th? ?ut?ut i? gr??t?r than the ?ut?ut th?t th? existing r???ur??? ??n ?r?du??.F?r ?x?m?l?, a country ?r?du??? ?izz? ?nd ?ug?r. If the ??untr? decides t? ramp u? it? sugar ?r?du?ti?n, u?ing th? ?xi?ting fix?d r???ur???, it h?? t? lower it? ?izz? production.H?n??, ?t ??int? A, B, ?nd C, the ???n?m? ??hi?v?? the m?ximum production possibilities b?tw??n ?izz? ?nd ?ug?r. P?int D i? in?id? th? PPF lin? and is in?ffi?i?nt because ?ll th? r???ur??? ?r? not being u??d properly. P?int E i? ?im?l? b???nd th? ?m?unt of ?r?du?ti?n ?tt?in?bl? with th? current l?v?l ?f r???ur???. Source: E??n?mi??, by Paul A S?mu?l??nConsider another example;C?n?id?r E??thi? as a h???th?ti??l country th?t ?r?du??? ?nl? tw? goods â€" Air C?nditi?n?r? ?nd R?frig?r?t?r?.When it u??? ?ll ?f it? resources, it ??n ?r?du?? fiv? milli?n Refrigerators ?nd fift? five million Air Conditioners.R?frig?r?t?r? (m)Air Conditioners (m)07016926836546055564873982490 Firstly, we ??n d???rib? the ????rtunit? cost ?f E??thi? f?r ?r?du?ing a giv?n output of R?frig?r?t?r? or Air Conditioners.F?r in?t?n??, If E??thi? ?r?du??? 3m R?frig?r?t?r?; th? opportunity ???t i? 5m Air Conditioners.Thi? i? th? diff?r?n?? between th? m?ximum ?ut?ut ?f Air C?nditi?n?r? th?t ??n be ?r?du??d if n? Refrigerators ?r? produced (whi?h i? 70m) and th? number ?f Air C?nditi?n?r? th?t can b? produced if 3m R?frig?r?t?r? ?r? ?r?du??d (whi?h i? 65m).Simil?rl?, the ????rtunit? ???t ?f ?r?du?ing 7m R?frig?r?t?r? is 31m Air Conditioners whi?h i? 70 39.In ?umm?r?, Pr?du?ti?n ??int? ?n a PPF ?r? possible and efficient. Production points on a PPF r??r???nt efficient u?? of ?ll of th? economy’s r???ur???. It is im????ibl? t? produce m?r? ?f one ?r?du?t (measured ?n ?n? ?xi?) with?ut ?r?du?ing l??? ?f th? other product (m???ur?d ?n th? ?th?r axis).Pr?du?ti?n points in?id? a PPF ?r? possible, but inefficient. Pr?du?ti?n ??int? in?id? a PPF indi??t? th? ???n?m? i? either not u?ing ?ll of it? r???ur??? (?.g., there i? un?m?l??m?nt) ?r i? u?ing th?m in?ffi?i?ntl? (e.g., gr?wing oranges in K?n??? ?nd wh??t in Florida). This ??n ?l?? h????n if there i? a natural ?r human-made disaster, lik? a hurri??n? d??tr??ing a f??t?r? ?nd machinery.P?int? ?ut?id? the PPF ?r? un?tt?in?bl? ?r?du?ti?n ??int? given current r???ur??? and t??hn?l?gi??. It is im????ibl? f?r ?n economy t? produce ?ut?id? it? PPF. Th? PPF can change, h?w?v?r, with changes in r???ur??? or t??hn?l?g?. Additional resources ?nd improvements in t??hn?l?g? push th? PPF further ?w?? from th? ?rigin. A loss ?f r???ur??? m?v?? th? PPF t?w?rd th? ?rigin.P?int? outside the PPF might b? ?tt?in?bl? consumption ??int?, h?w?v?r. C?n?um?ti?n ??int? ?ut?id? th? PPF m?? be ?bt?in?d thr?ugh ????i?liz?ti?n ?nd tr?d? if there i? a willing tr?ding ??rtn?r or if th? ??untr? discovers n?w r???ur??? ?r th?r? is a ?h?ng? in technology.If th? ?r?du?ti?n possibility fr?nti?r i? straight, it m??n? th?t th? r?t? ?f ?ub?tituti?n b etween th? tw? it?m? in question is constant ?r th? same. Consequently, the r???ur??? ??v?d by ?r?du?ing ?n? less unit of food ?r? ju?t ?uffi?i?nt t? ?ll?w th? ???n?m? t? ?r?du?? th? same added ?m?unt of ?r?du?t?. Thi? i? ??n?t?nt regardless ?f how much ?f ???h item th? ??untr? i? currently producing. Thi? consistent trade-off is known ?? ?r?du?ti?n und?r constant costs.E??N?MI? GR?WTH D?finiti?nW? define ???n?mi? gr?wth in ?n economy b? ?n outward shift in it? Pr?du?ti?n Possibility Curv? (PPC). E??n?mi? gr?wth is ?n increase in the ?????it? of ?n ???n?m? t? ?r?du?? goods ?nd services, compared from ?n? period ?f time to ?n?th?r.It ??n be m???ur?d b? the in?r???? in a ??untr?’? total ?ut?ut ?r real Gross Domestic Pr?du?t (GDP) ?r Gr??? N?ti?n?l Product (GNP).Th? Gr??? Domestic Pr?du?t (GDP) of a country i? th? t?t?l v?lu? of all fin?l g??d? ?nd services ?r?du??d within a ??untr? over a ??ri?d ?f tim?. Therefore an increase in GDP is th? in?r???? in a ??untr?’? ?r?du?ti?n.In sim plest terms, ???n?mi? gr?wth r?f?r? to ?n in?r???? in ?ggr?g?t? ?r?du?tivit?. Often, but not n??????ril?, aggregate g?in? in productivity ??rr?l?t? with increased average marginal ?r?du?tivit?.Thi? m??n? th? average laborer in a given economy becomes, on ?v?r?g?, m?r? productive. It is ?l?? ????ibl? t? achieve ?ggr?g?t? ???n?mi? gr?wth without an in?r????d average marginal productivity through ?xtr? immigration ?r high?r birth r?t??Gr?wth d???n’t ???ur in i??l?ti?n. Ev?nt? in ?n? country ?nd region ??n h?v? a ?ignifi??nt ?ff??t ?n gr?wth ?r?????t? in another. For ?x?m?l?, if th?r?’? a b?n ?n ?ut??ur?ing w?rk in th? Unit?d St?t??, thi? could have a m???iv? im???t ?n India’s GDP whi?h h?? a robust IT ???t?r dependent on ?ut??ur?ing.M??t d?v?l???d ???n?mi?? ?x??ri?n?? ?l?w?r economic gr?wth as ??m??r?d t? d?v?l??ing ??untri??. F?r ?x?m?l?, in 2016, Indi? h?d a gr?wth r?t? ?f 7.1% while th? Am?ri??n ???n?m? was ?nl? gr?wing ?t 1.6%.Thi? statistic ??n b? misleading b???u?? Indi?’ ? GDP w?? $2.264 trillion in 2016, whil? th? US was $18.57 trilli?n. It w?uld b? m?r? ???r??ri?t? t? ??m??r? th?ir ???n?mi? growth r?t?? during ?imil?r periods in th?ir hi?t?r?.Economic Growth i? not th? ??m? ?? Economic D?v?l??m?nt. D?v?l??m?nt alleviates ????l? fr?m low ?t?nd?rd? of living int? ?r???r employment with suitable shelter. Economic Growth d??? n?t t?k? int? ????unt th? depletion ?f n?tur?l resources whi?h might l??d t? pollution, ??ng??ti?n disease.D?v?l??m?nt, h?w?v?r, i? concerned with ?u?t?in?bilit? whi?h m??n? m??ting th? n??d? ?f the ?r???nt with?ut ??m?r?mi?ing future n??d?.Importance of E??n?mi? GrowthEconomic gr?wth is one ?f th? m??t important indi??t?r? ?f a h??lth? economy. On? ?f th? bigg??t im???t? ?f l?ng-t?rm gr?wth of a country is th?t it has a ???itiv? impact on n?ti?n?l in??m? ?nd th? level ?f ?m?l??m?nt, whi?h increases the standard of living.As th? ??untr?’? GDP i? in?r???ing, it is m?r? ?r?du?tiv? whi?h leads to m?r? ????l? b?ing employed. Thi? in?r????? th? w??lth ?f th? ??untr? and it? ???ul?ti?n.High?r ???n?mi? gr?wth ?l?? leads t? extra t?x in??m? f?r g?v?rnm?nt spending, whi?h th? g?v?rnm?nt ??n u?? t? d?v?l?? the economy. This ?x??n?i?n ??n ?l?? b? used t? reduce th? budg?t d?fi?it.Additi?n?ll?, as th? population of a ??untr? grows, it r??uir?? the growth t? keep u? it? ?t?nd?rd of living ?nd w??lth.E??n?mi? growth ?l?? h?l?? im?r?v? the standards ?f living ?nd r?du?? ??v?rt?, but these improvements ??nn?t ???ur with?ut ???n?mi? d?v?l??m?nt. E??n?mi? gr?wth alone ??nn?t ?limin?t? poverty ?n it? own.Types ?f E??n?mi? Gr?wthThere ?r? ?rim?ril? f?ur t???? of economic gr?wth:Boom and Bu?t Bu?in??? Cycles: If economic growth i? high-????d ?nd infl?ti?n?r?, th?n th? l?v?l ?f growth will b???m? unsustainable. Thi? ??uld lead t? a recession lik? th? Great R?????i?n in 2008. H?w?v?r, thi? t??? ?f gr?wth is typical ?f a business ???l?.Export-led: Th? J???n??? ?nd Chin??? ???n?m? h?v? ?x??ri?n??d ?x??rt-l?d gr?wth th?nk? to a h igh current ????unt ?ur?lu?. Thi? i? b???u?? th?? h?v? significantly more ?x??rt? than im??rt?.C?n?um?r: The US ???n?m? i? d???nd?nt on ??n?um?r spending for economic gr?wth. As a r??ult, they ?l?? h?v? a higher ?urr?nt ????unt d?fi?it.C?mm?dit? exports: These ???n?mi?? are d???nd?nt on th?ir n?tur?l resources lik? oil or iron ?r?. F?r example, S?udi Arabia h?? a h?d a very ?r????r?u? ???n?m? th?nk? to th?ir ?il ?x??rt?. H?w?v?r, this ??n ??u?? a ?r?bl?m wh?n commodity prices fall, and th?r? ?r?n’t other indu?tri?? t? balance thing? out.F??t?r? of E??n?mi? Gr?wthTh? f?ll?w ?ix ??u??? of ???n?mi? gr?wth ?r? k?? ??m??n?nt? in ?n ???n?m?. Improving ?r increasing th?ir ?u?ntit? can lead to growth in the economy.T??hn?l?g?: An?th?r influ?nti?l factor is th? im?r?v?m?nt ?f technology. Technology ??uld in?r???? ?r?du?tivit? with th? ??m? levels ?f l?b?r, thus ????l?r?ting gr?wth and development. Thi? m??n? f??t?ri?? can be more ?r?du?tiv? at lower ???t?. T??hn?l?g? i? m??t lik?l? t? l??d to ?u?t?in?d l?ng-run gr?wth.Physical Capital ?r Infr??tru?tur?: Increased inv??tm?nt in physical capital such ?? f??t?ri??, m??hin?r?, ?nd roads will lower th? ???t ?f ???n?mi? activity. B?tt?r f??t?ri?? ?nd machinery ?r? m?r? ?r?du?tiv? th?n ?h??i??l l?b?r. Thi? high?r ?r?du?tivit? ??n in?r???? ?ut?ut. For ?x?m?l?, h?ving a r?bu?t highw?? system can r?du?? inefficiencies in moving raw m?t?ri?l? or goods across th? country whi?h ??n in?r???? it? GDP.Hum?n C??it?l: An in?r???? in investment in human ???it?l ??n im?r?v? the quality ?f the l?b?r f?r??. Thi? would result in ?n improvement ?f skills, abilities, and training. A ?kill?d l?b?r f?r?? has a significant effect ?n growth ?in?? ?kill?d workers are m?r? ?r?du?tiv?. F?r ?x?m?l?, inv??ting in STEM ?tud?nt? ?r ?ub?idizing ??ding ???d?mi?? w?uld in?r???? the availability ?f workers f?r higher-skilled jobs that pay more than investing in blu? collar jobs.Natural Resources: Th? di???v?r? ?f m?r? natural r???ur??? lik? oil, ?r min?r?l d????it? m?? b???t economic growth as thi? ?hift? or in?r????? th? ??untr?’? Pr?du?ti?n Possibility Curv?. Oth?r r???ur??? in?lud? l?nd, w?t?r, forests and natural g??. R??li?ti??ll?, it i? difficult, if n?t im????ibl?, to in?r???? the numb?r ?f n?tur?l resources in a ??untr?. C?untri?? mu?t t?k? ??r? to balance the ?u??l? ?nd d?m?nd of ???r?? n?tur?l r???ur??? t? ?v?id d??l?ting th?m. Im?r?v?d l?nd management m?? im?r?v? th? ?u?lit? of l?nd and ??ntribut? t? ???n?mi? gr?wth.For ?x?m?l?, S?udi Arabia’s ???n?m? h?? historically been dependent ?n it? ?il d????it?.P??ul?ti?n ?r L?b?r: A gr?wing ???ul?ti?n m??n? there i? ?n in?r???? in th? ?v?il?bilit? ?f w?rk?r? or employees, whi?h m??n? a high?r w?rkf?r??. On? d?wn?id? of h?ving a l?rg? ???ul?ti?n i? that it ??uld l??d t? high un?m?l??m?nt.L?w: An in?tituti?n?l fr?m?w?rk whi?h regulates ???n?mi? ??tivit? ?u?h as rules ?nd l?w?. Th?r? i? no ????ifi? set ?f institutions th?t promote gr?wth.Limiting F??t?r? to E??n?mi? Gr?wthPoor h? ?lth ?nd l?w l?v?l? of ?du??ti?n: People wh? d?n’t h?v? ?????? t? h??lth??r? ?r education h?v? l?w?r l?v?l? ?f productivity. Thi? m??n? the l?b?r f?r?? i? n?t ?? productive ?? it could be. Th?r?f?r?, the ???n?m? d??? not r???h the ?r?du?tivit? it could ?th?rwi??.L??k ?f n??????r? infr??tru?tur?: D?v?l??ing nations often ?uff?r fr?m inadequate infr??tru?tur?? ?u?h ?? r??d?, ??h??l?, and hospitals. Thi? lack ?f infrastructure m?k?? tr?n???rt?ti?n m?r? expensive ?nd ?l?w? the ?v?r?ll ?ffi?i?n?? ?f the ??untr?.Flight ?f Capital: If th? ??untr? is n?t d?liv?ring the r?turn? expected fr?m inv??t?r?, th?n inv??t?r? will pull ?ut their m?n??. M?n?? ?ft?n fl?w? ?ut the country t? ???k high?r r?t?? of r?turn?.P?liti??l In?t?bilit?: Simil?rl?, ??liti??l in?t?bilit? in the g?v?rnm?nt scares inv??t?r? and hinders inv??tm?nt. For example, Zimb?bw? h?? b??n ?l?gu?d with ??liti??l un??rt?int? and l?w? favoring indigenous ?wn?r?hi?. This h?? ???r?d ?ff m?n? investors wh? ?r?f?r ?m?ll?r but ?ur?r r eturns elsewhere.Institutional Fr?m?w?rk: Oft?n l???l l?w? don’t adequately ?r?t??t right?. L??k ?f an in?tituti?n?l framework ??n ??v?r?l? impact progress ?nd inv??tm?nt.The World Tr?d? Organization: M?n? economists ?l?im th?t th? W?rld Tr?d? Org?niz?ti?n (WTO) ?nd ?th?r tr?ding systems are biased ?g?in?t developing n?ti?n?. M?n? d?v?l???d n?ti?n? ?d??t ?r?t??ti?ni?t ?tr?t?gi?? whi?h don’t help lib?r?liz? trade.Disadvantages ?f E??n?mi? Gr?wthTh?r? ?r? two ?r?bl?m? ?????i?t?d with the ???n?mi? growth:Environmental Degradation: P?lluti?n ?nd other n?g?tiv? ?xt?rn?liti?? ?ft?n ????m??n? in?r????d ?r?du?ti?n ?r in?r????d ???n?mi? gr?wth. Economists u?u?ll? ?????i?t? ?n ?dv?r?? impact on th? ?nvir?nm?nt with rapid gr?wth in developing ???n?mi??.Rising In??m? In??u?lit?: Gr?wth ?ft?n l??d? t? increased in??m? inequality. Th??? n?t inv?lv?d or r?l?t?d to th? gr?wth-g?n?r?ting ???t?r of th? economy g?t l?ft behind. U?u?ll?, th? rur?l ???ul?ti?n suffers th? m??t.

Risks And Uncertainties In Innovation And Competition Essay Example Pdf - Free Essay Example

Sample details Pages: 8 Words: 2309 Downloads: 6 Date added: 2017/06/26 Category Business Essay Type Narrative essay Tags: Innovation Essay Risk Essay Did you like this example? Most business decisions are made with incomplete information and an uncertainty future. Managers have to deal with risks every day. More specific a company may have a great new technology but consumer acceptance of this innovation is mysterious. A competitor may be tempted to engage in direct competition with a firm or may decide that the profits of a divided market are too slim and go on to look for other opportunities. Uncertainty includes both identifiable trends whose depth and timing can only be guessed at and unexpected events whose effect is immediate. What is risk? (Doherty Neil A. integrated risk management, mc graw hill professional 2000) Risk is present when the outcome of some defined activity is not known. Risk refers to the variation in the range of possible outcomes, the greater the potential variation, the greater the risk. In the economic sense risk does not refer to the adverse quality of some outcomes likes losses instead of profits but ra ther to the lack of knowledge about which of several outcomes may prevail. A risk is implied by our inability to predict the future. What is certainty? Certainty is a procedure that always show you the way for a specific outcome. Uncertainty Uncertainty refers on a situation of not having more information about the future. It is necessary in an environment of decision making. Managers should handle the uncertainty in a way that the probability of making mistakes will be in logical stage. For example costumers acceptance of a new product can be beyond the most hopeful prediction. Threats Threats are risks from the behavior of others. For example when goodys enter to the Greek market where McDonalds was making profits then there is a threat for mc Donalds because this might reduce their profits. The lower profits can be expected but the moves of the other competitors business cant be expected with sureness. A risk condition is a position where the results are unfa miliar to the decision maker. For example a manager is not confident about the outcome and uncertainty may lead to bad choices. Market risk is something that businesses concern because if their hopes about the future market situation are wrong then they have losses. It is a natural part of investing and market involvement. It can be control but not reducing it. If managers use future contracts then they are not worried about any loss may have because they will take some profits. Prepayment risk refers to the possibility that the resources may be prepaid earlier than their designated day.( financial markets and institutions j, Madura cengage learning 2008) Credit risk refers to the risk that a loss will occur because of the defaults on the contract. Business worried about the stability of their stock. The economic future of a business cant be predicted with confidence. A company might fail about their credit value. In order to identify risks that a company might have mana gers should ask their selves: what can go wrong? for example if Starbucks company wants to make a coffee with a specific ingredient and the supplier dont bring it on time then they faced an unexpected risk. Managers should introduce a research and development for reaching high performances. On every circumstances risks can estimated in two categories noticeable and moderate. A less than noticeable is when a senior manager leaves from the company but the other manages have a good succession plan for sales and profits that will not affect them. Noticeable events are things such as the market entry of a small competitor. This entry has been predicted and as long as the competitor stays in its narrow market there is a small loss in sales that requires no particular response. The failure of the supplier with little alternatives moves or an entry of a competitor with the same technology are facts that have moderate collision. New business faced with the challenge of having new capabilities. The strategic choices that should consider are which competencies should enter? How they will enter them? When they will enter them? These are difficult to answer because of the uncertainty that the market environment have. Entering into a new marketplace can be risky but it worth it in order to achieve new business opportunities. Because of the high level of uncertainty managers are not confident that the new industry that they are going to extend will be profitable. A company has a lot of choices to enter. They can wait until the uncertainty and risk have increased or they can take a strong position early. A company can be tempted to favor flexibility over commitment and to postpone the investments required until much of the market uncertainty is resolved. But in strong environments characterized limited chances of opportunities a business may havent the correct capability at the right time. Risk return Some claimed that when we take large risks we expec t large returns. Risk relates with return in some way. Everything is about to maximizing the return and the profit so a company has to take all the risks. If you know all the necessary facts then you do not take any risk, but if you do not know all about the future, which you do not!, then you take a risk. Risk and uncertainty are thus correlated. Risk/Return Return low risk- low return High risk- high potential return Risk A risk could be control if managers have the necessary information and knowledge about this dilemma. They should focus on other options might have, gather more information, try to find different features of the problem and study the problem to decrease the risk and finally hold up the decision. country When a country change their political regime it might lead to increase taxes, leaving out the repatriation of business profits to the home country, force them the exchange rate controls and deny to allow them new technology practices. All these issues managers should concern and decide if this country is worth it to expand. , a countrys economic risk points to economic forces that may result in drastic changes in the business environment that are detrimental to business interests. Economic mismanagement and corruption are chief among the causes of increased economic risk, often resulting in high inflation, capital flight, and debt defaulting. Culture Among the country and the international country there are difference in culture, norm and values. This leads to an uncertainty and cost of conducting business in international market. Culture dissimilarities influence international business judgments like market entries, entry mode choice, effectiveness of global strategies, and local responsiveness. Managers prefer to make foreign expansion in countries with the same culture, norms and values in order to decrease the risk of possible failures of the products and services in these countries. Also managers are away from markets with different cultures that they dont understand the business background and norms. The more cultural differences existed among the home country and the international country the more possibilities of not doing business in that country and it can significantly influence the internationalization process. Managers should recognize two types of risk assessment. The internal risk which are specific market and type of investment, and external which are climate and political changes, changes in laws and policies. Conclusion Many managers have the mistaken opinion that investing in abroad country is riskier than investing in their home countries. Research shows that invest in abroad have the same risk as invest in your home country. Mc donalds Mc Donald faced the challenge of making stores in India. The risk was that India has different habits and culture. They are not eating beef or pork. As a result there was risky to open stores there and have high p rofits because mc menus have meat. McDonalds thought to make food and pricing strategies that can suit to Indias market. So they make a menu that dont have beef or pork but a vegetarian menu. Vegetarian products are separate throughout the sourcing cooking and servicing processes. Instead of having Big mac in India the buy Mc AlloTikki or Mc Veggie burger. Euro Disney Walt Disney Corporation decided to expand the theme park in Europe. Walt Disney method of entry in Japan had been licensing. But Disney chose to invest in other European countries that theme park has owning 49% and 51% public. The problem was the site so the company evaluates the criteria for choosing a location. Other problem was the euro Disney project illustrate that even if a company has been successful in the past, future success was not sure when it moves to a different country and culture. The alterations for national differences should always be measured in order to avoid risk. Disney thought to have t he same recipe of fantasy and magic in Europe in order to have big profits. But in some countries wasnt acceptable because they believe that this was a threat to their culture. euro Disney should focus on the details inside the park, better food and the price structure for the international market in order to succeed to entry in new market without having high risks of failures and fight for a long survive in other countries. Framework Market place performance Product characteristics Host market characteristics Home market characteristics Firm size Entry mode strategy Political risk The possibility that political decisions, events or conditions will affect a countrys business environment in ways that will cost investors some or all of the value of their investment or force them to accept lower than projected rates of return. Huge risks take a company when they expand in another country because a country may change political leaders, opinions and policies . It may be costly to companies because of the loss or damage to their property and the need to adjust to changes in the rules hovering business. For example Bolivia is a risky environment for foreign investors because of the demonstration and violence and coca cola has police protection of its trucks and telephone connections in Angola. As a result managers should predict the possibility of having a political risk but its difficult because past political incidences situations change for better to worse and situation changes within countries and companies. Also managers should take some opinions from political leaders to determine their opinion about foreign business relations and their thinking about foreign countries. They should inform from the global newspapers or internet or television about the political events that could affect their business. Managers should visit the countries that they are interested and focus on business people, journalists and labor leaders that ma y change and affect the business sector and usually affect political conditions. Monetary risk A company influenced from exchange rates. More specific if the value of a foreign currency is change then the value will be less competitive because it will cost more the product or services. Also it influenced from the funds that moved out of a country. If a company wants to invest in a foreign country then the capability to get funds from the country is an issue. Companies should accept the factor that if they want to move their financial resources there is a possibility to have lower return. Competitive risk A company success depends on competitors moves. Managers should consider that when they operate in a foreign country with less familiar environments it might be high risky because foreign countries are not survive than the local companies that know their local market. However if foreign companies succeed to learn more about their new market and manage correctly all th e issues that might face then they can gain their new market. As a company learns more about customers, competitors and governments plans they decrease uncertainty. So managers prefer to invest in countries that located close to them with similar language, culture, legal system and market conditions in order to decrease uncertainty and have a competitive advantage that fits to their rules. Also a company thinks about the local resources if there are available in association with their needs. More specific a company may want to find local personnel that know the business. Companies follow competitors into foreign markets and match their investments with the competitors. They took advantage from that because they know that this location is acceptable for this product or service they want. There are clusters of competitors that use them in order to have better competitive position and learn news and information from them. However SOME COMPANIES PREFER TO invest into a marke t first in order to gain competitive advantage and build a strong brand and have strong customer relationship. So it has the chance to be a market leader with better product or services and distributions. As a result it decreases the competitive risk. For example, Amazon.com may not have been the first seller of books online, but Amazon.com was the first  significant  company to make an entrance into the online book market. There are four types to choose how to enter a foreign market. The first type is exporting that a product produces in one country into another. The second is licensing a company use the property of the licensor in the country that they are interested. They should pay a fee in order to use this property. The third is joint venture that two or more have a plan for a business and approve to share the profits of the business enterprise. Finally is the foreign direct market that the country businesses have an ownership. It has a high control of the resources (technology, personnel and capital.) as a result you have the opportunity to know your customer and competitors. Features of cultural distance Different languages and religions different social norms Features of organizational distance Political unfriendliness government rules Geographic distance Size of country different climates Economic distance Different income different human and natural resources Don’t waste time! Our writers will create an original "Risks And Uncertainties In Innovation And Competition Essay Example Pdf" essay for you Create order

Essay on The United States Culture - 1208 Words

US CULTURE The United States of America being the third largest country in the world with more than 315 million inhabitants, consists of multicultural societies with ethnically diverse population. Since there are a lot of foreigners, the US culture has evolved in such a way accepting and tolerating other foreign cultures. US is very much influenced by protestant work ethics according to which people believe in themselves and their efforts to attain the goal of self-actualization and success. The rich diversity in the culture brought by foreigners, prevailing values of protestant ethics, hard work etc. have helped US to emerge as a superpower in the past years. Nearly every religion had its impact on US culture in one way or the other. The†¦show more content†¦It has to do with the fact that a society’s inequality is endorsed by the followers as much as by the leaders US is low in power distance which implies that there is decentralization in organization in terms of matters like decision making were suggestions would be taken from employees. The power and authority to do things is also decentralized and distributed among employees. The gap of salary between employee classes is bot wide unlike in countries with high power distance. This also promotes consultative relationships between superior and employees which lead to employee satisfaction and better productivity. 2. Individualism US has a very high score of 91 in individualism which is one among the reasons for their success. The society is loosely-knit in which the expectation is that people look after themselves and their immediate families only and should not rely (too much) on authorities for support. Due to this high individualism factor, employer- employee relationship is a business deal in labor market. Employees are better seen as individuals and so direct appraisal of these individual employees often help them to improve and it promotes better output. 3. Masculinity A high score (masculine) on this dimension indicates that the society will be driven by competition, achievement and success, with success being defined by the â€Å"winner† or â€Å"best-in-the-field†. This value system starts in childhood and continuesShow MoreRelatedEssay on Cultures of the United States and China1294 Words   |  6 Pages I chose the United States and China as my two countries to study. I will start off the Psychological anthropology study of Chinese people. I will discuss their customs and beliefs from childhood to adulthood. I will then discuss the study of Americans and their customs and beliefs. I will discuss both Chinese and American traditions and the varies life cycles of both cultures. I will do this view from both the male and female aspects. I will then summarize in conclusion the differences andRead MoreCulture And Culture Of The United States1381 Words   |  6 PagesMany cultures are recognized in the United States, the questio n is where did they all come from?, and how does integration of cultural choices influence today s culture? To understand this you have to understand history. The people of today, their ancestors, have all migrated to different places throughout the united states so you could say that we are all immigrants. Many cultures are rather similar to others because they have migrated from the same parts of the world, but yet some show a majorRead MoreThe Culture Of The United States997 Words   |  4 PagesThe United States is made up of different cultural groups that often been Americanized, due to the cultural dominance. The dominant culture in a society is seen in a group of members that are the majority or has more power over other culture groups. 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The political culture of the Untied States, thankfully, is a much more democratic and freeing environment. â€Å"Life, liberty, and the pursuit of happiness...† is what we live by, not â€Å"Freedom is slavery.† The political culture of the United States is made up of two main concepts: liberty and equality. These will be discussed in this paper. United States; a country foundedRead MoreThe American Culture Of The United States Essay1303 Words   |  6 PagesAmerican culture is mainly western. Despite the fact that westernisation has dominated the culture, it has largely been influenced by Africans. It is as a result of the Africans who at first stayed and worked in American soils. Their presence had a greater impact in the way people in the United States Lives. The United States has their owner and distinct characteristics in the way they live. Their culture is so diverse as a result of the interaction with other people in the world especially the Africans

Cross-Cultural Understanding Free Essays

The headline of the article is â€Å"Cross Cultural Understanding as a Basis for Lasting Business Relationship†. It is the article published in June 2009 by the author Anna Shevchenko, who is the senior consultant at Farham Castle International Briefing Center. The article originally appeared in the printed version of the RBCC Bulletin (Russo-British Chamber of Commerce-the monthly magazine for Chamber members) . We will write a custom essay sample on Cross-Cultural Understanding or any similar topic only for you Order Now It is addressed to the readership of this periodical publication, primary for businessmen. It is based on the needs of businessmen to connect each other even if they are from different cultural environments. The author focuses on differences between British people and Russians. The article begins with a major issue of the loss business due to misunderstandings between people and the importance of discovering other cultural to do successful business. The article includes a large amount of examples of cultural differences between involved citizens. The author gives a detail description of cultural peculiarities of Russians and characterizes them as superstitious and truly people, but at the same time they are lazy, unpunctual and need to be controlled. Compare this to the British preference for statements â€Å"maybe† or â€Å"perhaps†, prefer to be punctual and to examine business in details. Further, the author admits that it will never be possible to fully comprehend another culture, as those values, beliefs, attitudes and assumptions are usually a set of unwritten rules formed for centuries. But also, the author states that understanding the culture will make work more enjoyable and less frustrating. In conclusion she suggests solution for the problem, offering services of Farham Castle International Briefing Center, which specializes in cross cultural management. I suppose this article is richly informative, but the author doesn’t mention the price of such services. Also, I doubt about a necessity of using it. I mean, understanding other culture, to my mind, scarcely ever comes in handy. I consider, prosperous businessmen are alike. Businessman should be punctual, as he values his time. He tries to study a work in details. He is assertive and hardworking. He likes controlling everything and doesn’t give a hoot about any signs (superstitious beliefs) in spite of his nationality. How to cite Cross-Cultural Understanding, Essay examples

EHR and My Health Record

Question: Discuss about the EHR and My Health Record. Answer: Introduction In the recent years, the world has experienced the growth and penetration of the internet into several sectors of the economy. Coupled with the growth of networking and the growth of communication technology, the E-healthcare systems have become largely accepted in healthcare as essential for efficient patient care (Consumers Health Forum of Australia, 2014). The adoption of E-healthcare in Australia has helped bring down the number of medical errors, increase the quality of health care, minimize the cost of healthcare and help patients have an understanding of their healthcare needs in order to make proper health choices (Showell, 2014) History of the EHR Having seen the importance of e-health systems, it is paramount that governments take seriously the development of these systems for the advancement of healthcare (Cornwall, 2013). Australia has made numerous steps with regard to the adoption and integration of E-healthcare systems. Since the year 2000, Australia has made efforts to come up with their own E-Health Records Systems (International Organization for Standardization, 2015). In the year 2000, Australia made considerations of adopting EHR systems. The first system of this kind is called Mediconnect. This system collected and stored information regarding medicines and exchanged this information to doctors, pharmacists and even patients. The field tests for this system were done in Ballarat and Launceston. The tests provided the much-needed information regarding the implementation of EHR systems (Xu, 2013) The concepts behind this system and the lessons learned from its implementation were used in the development and implementation of HealthConnect (Tang, 2016).The HealthConnect is a country-wide network of several EHRs, which collects, stores and exchanges information regarding individuals' health. This program was developed from 2004 to 2009. HealthConnect was very useful in the laying down of health infrastructure in the country (Cornwall, 2013). Another key development in the e-health systems happened in 2010 to 2012 when the Australian Government invested several millions of dollars for the release of the Personally Controlled Electronic Health Record System (PCEHR) (Mennerat, 2014). The first version of the PCEHR was released by the Australian government on July 1st, 2012. This healthcare system has provided economic benefits to both to the government and to the private sector in addition to laying the ground for future advancement in E-healthcare systems. These E-healthcare systems are expected to reduce government expenditure on health by about $7 billion (Xu, 2013) The rationale behind the establishment of the EHR system was that many Australians make multiple hospital visits, and area tended to by different health care workers (Jha, 2013). During these visits, information was kept in files only accessed by individual physicians. This way of doing things brings about a situation where files could be inconsistent or lost and hence the information may not be available during emergency situations. EHR system corrects this problem by compiling a patient's personal data, medications given; discharge summaries, tests performed and care plans (Xu, 2013). This information is easily retrieved when needed especially during emergencies and special health conditions. The Relationship of the EHR to My Health Record The EHR system then provided a basis for My Health Record. My Health Record contains the same information that is found in the EHR. This information includes- immunizations given to patients, diagnoses made, medications and physician contact information. This system, is, however, set up in such a way that it is accessible and manageable by patients themselves. This information helps patients to monitor and manage their health in an environment where they are assured confidentiality. The information contained in My Health Record comes from patients and physicians (Jha, 2013). The EHR system and My Health Record are related in many ways. First, they both contain the same type of information. The only difference is the target audience the information is meant for. While the EHR system targets physicians, the My Health Record targets patients. Second, My Health Record was founded on the EHR system. The information and knowledge that was used to come up with My Health Record was obtained from the experience with EHR system implementation (Xu, 2013). Patients can use My Health Record to manage their health while health care workers use the EHR to manage patient's health. Both of them represent a new phase of healthcare where information is now freely available in a convenient way. Current Scheme, Use and Implementation Status of EHRs/My Health Record (Including Implementation Issues) The Australian government has taken seriously the countrywide implementation of the EHR and My Health Record. The public has also been very supportive of the system after seeing the effects of the change and are in strong support of both the EHR and My Health Record (Department of Health and Ageing, 2014). They also prefer that the government implements and manages both systems. The implementation of My Health Record has been successful over time and in 2012, the PCEHR Act was passed to support the effective operation of the system. The act covered governance of the PCEHR the registration of the public, collection and use of information and the enforcement of the system. In July 2012, My Health Record was released, individuals were free to register and give information so they can access their health information online. Currently, the government has joined efforts with ICT providers to develop the system further and to increase the level of adoption of the system. The government and the private sector have joined efforts in the implementation of both systems (Jha, 2013). EHR system has been well implemented and is used by the majority of general practitioners. There are however, challenges in the implementation of My Health Record and therefore the government is working harder to ensure a national implementation (Tang, 2016). According to research, the EHR system has been largely adopted by general practitioners with about 90 percent of them using this system (Department of Health and Ageing, 2014). This picture is also seen in New Zealand, U.K and the Netherlands. The adoption of this system in hospitals is however, poor at about ten percent (Xu, 2013). My Health Record has been adopted and continues to be adopted by many people but there is still much to be taken into consideration to ensure the full implementation of the system. Implementing the two systems met several challenges. During the time of implementation of both systems, the both sides of government supported the implementation of the EHR but the opposition was against the implementation of My Health Record (Tang, 2016). It delayed the establishment of My Health Record. Its implementation was however, done by the current government and has therefore picked up. The uncertainty about the state of the economy also affected the implementation of the two systems. The economic benefits of the systems are not felt until about ten years are after implementation. Therefore, it was easy to slow down implementation because of the unforeseen economic benefits (Benatallah Paik, 2013). The government was the main player in the implementation of both programs. The implementation also included the private sector. However, the government is the sole source of funding. Implementation is faced with challenges in that there is widespread uncertainty regarding the use of E-healthcare systems. Some physicians view patient information as private and competitive and are not impressed by the idea of providing this information for access by other physicians. The attitude from physicians slowed down the implementation of the EHR (Library Association of Australia Australian Society of Archivists, 2014). Privacy interest are one of the reasons the implementation if the two systems, especially that of My Health Record. Many patients and professionals were not comfortable with the idea of having such confidential information in such an easily accessible space. All the information of the two systems is stored in a central database which if breached, could impact the wellbeing of millions of people. This issue of privacy is of greater concern when it comes to My Health Record (Rodrigues, 2013). Many Australians are not sure how their highly confidential information will be used and whether the information is safe from breaching. A research showed that more than 80 percent of Australians do not trust the security and privacy of My Health Record (Williams Samarth, 2013). Even after the assurance that only patients themselves have access to the information, the individuals are not convinced that the information will still be safe after they choose to withdraw from the system (Gardner Barraclough, 2013). Future Plans to Expand the Implementation of EHRs/My Health Record. For implementation to be successful, the government should continue to fund the implementation of the systems (Cornwall, 2013). As opposed to the system whereby individual will have to pay for use of the systems, government funding will ensure a more widespread implementation of the systems. Second, the practice of patience is of help in the implementation of the two systems. My Health Record, like I stated above starts to pay off after ten years. The government has chosen to continue with its investment despite the lack of immediate economic returns (Rogers Reardon, 2014). For proper implementation, there are plans to make possible the access to and management of health information through mobile devices. It is of help especially in the rural parts of the country who do not have readily available internet connection. Given that many people have access to smart phones with the internet; the availability of the option of use of mobile phones will help with the proper implementations of the EHR and My Health Record. It applies especially to My Health Record (Gunter, 2015). Another plan to help with successful implementation is the use of a patient-centered approach to implementation (Iacovino, 2016). Patients play a central role in the reason for development of these systems and without patients agreeing to use My Health Record then the system's implementation will fail. One way of achieving that trust is training patients to understand the logic behind the use of these systems and the benefits that are to be found in My Health Record (Church, 2014). For the EHR system, consulting with physician and listening to their concerns will aid in its implementation. There is also a plan to gain more confidence from patients and healthcare workers. It is to be done through the assurance of privacy. In order achieve this, the government is working with Private IT industry to develop systems that are hard to breach and those that patients can trust the safety of their confidential information (Barraclough Gardner, 2014). Conclusion As we have seen above, the country has welcomed the idea of E-healthcare as a way of making healthcare more efficient. The government has and is still in support of these systems given their contribution to reduced healthcare expenditure in the long run. The two systems have been implemented but still have a long way to go to ensure full implementation. There is promise in the future of these systems given the plans that are underway to ensure successful implementation (Brown, 2013). References Brown, D. (2013). Lewis's Medical Surgical Nursing: Assessment and Management of Clinical Problems. London: Elsevier Health Sciences APAC. Showell C.M. (2014). Citizens, patients and policy: a challenge. Health , 29-43. Consumers Health Forum of Australia, (2013). e-Health and Electronic Health Records: Current Consumer Research. Online available at https://www.chf.org.au/pdfs/rep/rep-691-eHealthresearchfeb11. Cornwall, A. (2013). Electronic health records: an international perspective. Health issues, 73 , 19-23. Department of Health and Ageing. (2014). Health Readness Survey Report. Online https://www.health.gov.au/internet/publications/publishing.nsf/Content/CA2578620005D57ACA2579090014230A/$ File/Allied%20Health%20ehealth%20readiness%20survey %20report.pdf. Gunter, T. D. (2015). The emergence of national electronic health record architectures in the United States and Australia: models, costs, and questions. Journal of medical Internet research, 7(1), , p.e3. International Organization for Standardization (ISO). (2015). Health informatics - Electronic health record - Definition, scope, and context. Online available at https://www.openehr.org/downloads/standards/iso/isotc215 wg3_N202_ISO-TR_20514_Final_%5B2005-01- 31%5D.pdf . Church, D. S. (2014). Citizen participation in health decisionmaking:past experience and future prospects,. Journal of health policy , 12-32. Jha, A. D. (2013). The use of health information technology in seven nations. International journal of medical informatics, 77(12). . International journal of medical informatics, 77(12), , pp.848-854. Tang, P. A. (2016). Personal health records: definitions, benefits, and strategies for overcoming barriers to adoption. Journal of the American Medical Informatics Association, 13(2), , 121-126. Xu, J. G. (2013). Implementation of e-health record systems in Australia. . The International Technology Management Review, 3(2), , 92-104. Rogers, R., Reardon, J. (2014). Recommendations for international action: Barriers to a global information society for health ; report from the project G8-Enable. Amsterdam [u.a.: IOS Press [u.a.. Williams, T., Samarth, A. (2013). Electronic health records for dummies. Hoboken, N.J: Wiley Pub. Barrowclough, S., Gardner, H. (2014). Analyzing health policy: A problem-oriented approach. Sydney: Churchill Livingstone/Elsevier. Iacovino, L. (2016). Recordkeeping, ethics and law: Regulatory models, participant relationships and responsibilities in the online world. Dordrecht: Springer. Gardner, H., Barraclough, S. (2013). Health policy in Australia. South Melbourne, Vic: Oxford University Press. Mennerat, F. (2014).Electronic health records and communication for better health care: proceedings of EuroRec '01. Amsterdam [u.a.: IOS Press. Library Association of Australia., Australian Society of Archivists. (2014). Archives and manuscripts: The journal of the Archives Section, the Library Association of Australia. Canberra?: Library Association of Australia, Archives Section. Rodrigues, J. (2013). Health information systems: Concepts, methodologies, tools and applications. Hershey PA: Medical Information Science Reference. Benatallah, B., Paik, H.-Y. (2013). Business process management workshops: BPM 2013 international workshops, BPI, BPD, CBP, ProHealth, RefMod, semantics4ws, Brisbane, Australia, September 24, 2013 : revised selected papers. Berlin: Springer.