Mobile Phone and Habits Modern Gadgets

Facilitating Communication †¢With devices like the cell phone, the BlackBerry and the laptop computer, people can communicate easily while on the go. Businesspeople can stay in touch with clients or the office while waiting for a plane or when in transit, which can increase their productivity. Parents can supply their children with cell phones so they can keep in touch with them when they're away from home. Texting allows individuals to exchange brief messages quickly without the need for face-to-face or telephone conversations. Shopping Habits Modern gadgets also influence how people conduct routine daily activities such as shopping. With the use of a computer with an Internet connection, consumers can easily compare products, gain a wide range of product information and conduct the entire shopping transaction without having to leave their homes or offices. According a 2009 Pew Research Center study, 80 percent of Americans age 33 to 44 indicated they purchased products online and 67 percent did their banking via the Internet. †¢Sponsored Lin †¢Health and Safety Issues oOn the downside, overuse of electronic gadgets can have an adverse effect on health and safety.According to the Med India website, a Carnegie Mellon University study indicated, extensive use of the Internet or playing video games can lead to social isolation and even depression. Stress levels can also increase, as mobile communication devices can make it more difficult for users to disconnect from work and find time to relax. According to the Washington Post, a 2010 National Safety Council Study indicated that 28 percent of traffic accidents in the United States occur due to people talking on cell phones or texting while behind the wheel. Inappropriate Behavior In some cases, modern gadgets and their associated technologies can facilitate inappropriate behavior. Online predators can use the relative anonymity provided by an Internet chat room to pose as a teenager and lure a teen into a potentially dangerous situation. Social media websites such as Facebook and Twitter can provide convenient avenues for â€Å"cyber bullying,† such as when teens use these vehicles to intimidate or humiliate other teens. Individuals may also use their cell phones to engage in threatening or harassing behavior via text messaging. Sponsored Links

Walmart and Target a Closer Look at Strategic Interaction

Main Paper Walmart and Target: A closer look at strategic interaction Maastricht University School of Business and Economics Maastricht, 4th December 2011 Bastian Hauk, BH ID number: i6034999 Study: International Business Course Code: EBC1009 Economics & Business Group Number: 31 Economics Tutor: Khan Writing Tutor: Hetty Bennink Writing Assignment: Main Paper Table of Contents Page 1. Introduction 2. Economic Principle: Game Theory 3. Applied Economic Principles 3. 1. Theory of Game for simultaneously Decision Making 3. 2. The extended Version for consecutive Decision Making 4. Conclusion References 4 6 7 8 2 2 1 Introduction In the United States of America there are only two very well-known discount retailers: Target and Walmart. Both are currently operating all over the country which places each of them among the biggest corporations in the United States. Nearly every American has been to at least one of them because they sell almost everything and E. Basker described this service â€Å"one-stop shopping† (2007). In 2007, Walmart operated more than 3,400 stores across the USA and a survey showed that by the end of 2005 46 percent of Americans lived within 5 miles of the nearest store; within 15 miles even 88 percent (Basker, 2007).Target operated 1,750 stores in January 2011 (Target Corp. , 2011). Since their wide range of products is quite similar they are large competitors. Thus, they are constantly waging price war against each other. In addition, they make use of strategic interaction and especially of game theory which is a mathematical model describing a decisionmaking process and showing how the players make different decisions that potentially affect each other’s interests (von Stenge, & Turocy, 2001). This paper analyses strategic interaction between Walmart and Target with respect to the game theory and the extended version.In order to do so it introduces first the theoretic background of strategic interaction. Afterwards it applies g ame theory and the extended version to this case in order to show the impact of strategic interaction on both discount retailers. It concludes by stating the importance of strategic interaction to optimal decision making and its relevance for Walmart and Target. 2 Economic principles: game theory and extended version The theory of games describes certain concepts in which several players influence each other’s decisions in situations of conflict and competition (Moffatt, 2011).In order to apply game theory there must be at least two players. The three basic elements of a game are the player, the strategies he can choose from and the payoffs the players receive from each combination of strategy. The payoff matrix describes the outcomes in a certain game for each possible combination of strategies as shown in Figure 2. 1. 2 Player One Strategy 1 Strategy 1 Outcome Player 1 Strategy 2 Outcome Player 1 Outcome Player Two Strategy 2 Player 2 Outcome Player 1 Outcome Player 2 Outco me Player 1 Outcome Player 2 Figure 2. 1: Payoff matrix for a two player game Outcome Player 2If one player used a dominant strategy, his choice yields a higher payoff, regardless what the other player does and as a result he has no incentive to change his strategy. For this example, player one’s dominant strategy would be strategy one if he received a higher outcome no matter which strategy player two chooses, but only if he then receives the highest payout. There are also some particular outcomes; for example the Nash equilibrium which occurs when any combination of strategies is the best strategy with the best possible outcome for all players (McDowell, Thom, Frank, & Bernanke, 009). An outcome created by two dominant strategies which is worse than the outcome created by two dominated strategies is called prisoner’s dilemma. The prisoner’s dilemma only occurs when each player’s dominant strategy results in a smaller payoff than it would have if they ha d chosen the dominated strategy. Game theory also assumes that the decisions are made simultaneously. To illustrate a game in which the players decide interdependent, the economist uses the extended version of game theory which is displayed with a game tree (McDowell, Thom, Frank, & Bernanke, 2009). Company 1 Decision: Action A or Action B Action A Company 2 Decision: Action C or Action D Action C Outcome 1 Outcome 2 Action D Action B Company 2 Decision: Action C or Action D Action C Outcome 3 Outcome 4 Action D Figure 2. 2: Decision tree Figure 2. 2 is an example of a game tree. Company 1 first decides which action they will take, which can be either A or B. Company 2 then has the choice how they want to react and whether they take action C or D. The best outcome can only be achieved with a backward nduction as a result of evaluating the results first and afterwards predicting the other player’s strategy. For example, outcome 3 would be the best outcome for company 2 if comp any 1 chose action B and therefore company 2 chooses action C. Outcome 2 would gain the highest profit for company 2 if company 1 took action A. 3 Applied Economic Principles 3. 1 Theory of game for simultaneously decision making As stated in the introduction this two very large American retailers are competitors and have a very similar customer base.The income of Targets customer base is slightly higher but it is not relevant for strategic interaction (Neuman, 2011). Theory of game helps to understand the different prices and how the different price strategies affect consumer behavior. This example is not based on any specific data. However, it is logic for somebody willing to buy a certain good to substitute the same good with an identical one if the price is lower and there are not any additional efforts to make. By applying game theory, the three basic elements have to be clear. 4 Walmart and Target are the players.Different pricing of a certain product -a television- are the st rategies while the different profits are the results of each combination of the strategies. Both companies have two pricing strategies: either to charge a low price of â‚ ¬300 or a high price of â‚ ¬500. They have to make the decision simultaneously, for instance before they release the television to the market. It is important to know that the customers are also willing to purchase the television for the high price. Target High Price (â‚ ¬500) High Price (â‚ ¬500) Walmart Walmart earns â‚ ¬10,000 profit Low Price (â‚ ¬300) Walmart earns â‚ ¬15,000 profit Figure 3. : Payoff matrix for Walmart and Target Figure 3. 1 shows a potential payoff matrix for this strategic interaction. It shows all possible outcomes for the two pricing strategies. Walmart and Target would both make â‚ ¬10,000 profit if they charged the high price and â‚ ¬7,500 profit if they charged the low price. If Walmart chose the low pricing strategy and Target used the high pricing strategy Walmart would gain â‚ ¬15,000 compared to the â‚ ¬5,000 profit Target would make. Target also makes â‚ ¬15,000 profit using the low price if Walmart decides to charge the high price.What does that mean for both companies? Since both of them would earn a higher profit by setting the price low in this scenario, both companies would choose â€Å"Low Price† as a dominant strategy. On the contrary, â€Å"High Price† would be the dominated strategy. Nash equilibrium can be found when both companies pick the â€Å"low price† strategy because they don’t have an incentive to change their strategy. This payoff 5 Low (â‚ ¬300) Target earns â‚ ¬15,000 profit Walmart earns â‚ ¬5,000 profit Target earns â‚ ¬7,500 profit Walmart earns â‚ ¬7,500 profitTarget earns â‚ ¬10,000 profit Target earns â‚ ¬5,000 profit matrix also shows that the strategy combination of â€Å"high price† and â€Å"high price† would be the best possible outcome for both firms. But rather than applying the dominated strategy Walmart and Target use the dominant strategy. This dilemma is called prisoner’s dilemma. Those dilemmas exist quite often and there are many reasons why they exist, for instance, both companies do not want the other one to make a higher profit or even to have the chance to receive a higher profit. 3. 2.The extended version for consecutive decision making Therefore Target and Walmart react and might change the strategy they had choosen. Both competitors often change their strategies. Although Singh (2006) stated that prices at Walmart are about 15 percent lower than in traditional supermarkets, Neuman (2011) proved by comparing almost 60 items that Target’s prices were a bit lower than Walmart’s. It is hard to rely on data which are released with a 5 year time difference but it shows that both firms constantly adjust the prices to be competitive.High Price Target High Price Walmart Low Price â‚ ¬10,000 for Target â‚ ¬10,000 for Walmart â‚ ¬15,000 for Target â‚ ¬5,000 for Walmart â‚ ¬5,000 for Target â‚ ¬15,000 for Walmart â‚ ¬7,500 for Target â‚ ¬7,500 for Walmart High Price Low Price Target Low Price Figure 3. 2: Decision Tree for Walmart and Target 6 Since the decisions of both companies are not made simultaneously the reacting firm -in this case Target- has to find out what action to take in order to receive the highest profit for either move Walmart makes. Walmart moves first and selects either strategy.Target is in the position to decide and how it wants to react. Thus, Target uses backward induction. First it evaluates the best results for each action Walmart uses; â‚ ¬15,000 profit if Walmart sets a high price and â‚ ¬7,500 profit if Walmart sets a low price. Afterwards it chooses the strategy how to get to that profit. Finally Walmart moves and selects the low or the high price strategy and Target is able to react sufficiently. Assu me that Walmart chooses the high price strategy then Target sets low prices and due to that Target earns the highest possible profit. Conclusion Walmart and Target are large competitors on the American retailer market and therefore strategic interaction is very important for them. Both companies know the ways to decide how to act concerning different strategies. Both companies know that it is necessary for them to react and choose the best strategy. In the first example both companies simultaneously introduce a television to the market. Their dominant strategy is to set a low price because both of them hope that the other company chooses the high price strategy.This is one example of a free market wherein the customers always choose the low price if available. Walmart and Target would earn a larger profit if both set the high price. In the other case Walmart moves first and afterwards Target chooses the strategy which leads to the highest outcome. The reacting company’s best strategy in the extended version of game theory is always the low price strategy. On the contrary, when two companies have to decide simultaneously it is not always the best choice to choose the low price strategy although it is their dominant strategy. References Basker, E. (2007). The Causes and Consequences of Wal-Mart’s Growth. The Journal of Economic Perspectives, 21 (3), 177-198. McDowell, M. , Thom, R. , Frank, R. , & Bernanke, B. (2009). Principles of Economics, 2nd European Edition. Maidenhead, UK: McGraw-Hill Education. Moffatt, M. (2008). What are Game Theory and Bargaining Theory? Retrieved December 4, 2011, from http://economics. about. com/cs/studentresources/f/game_theory. htm Neuman, S. (2011). Target Takes Aim At Walmart, With Some Success, NPR. Retrieved December 4, 2011, from http://www. pr. org/2011/08/19/139793948/target-takes-aim-at-walmartwith-some-success Singh, V. , Hansen, K. , & Blattberg, R. (2006). A Market Entry and Consumer Behavior: An investig ation of a Wal-Mart Supercenter. Marketing Science, 25 (5), 457-476 Target Corp. (2011). Target Annual Report 2010. Minnesota, US: Target. Retrieved December 7, 2011 from http://www. sec. gov/Archives/edgar/data/27419/000104746911002032/a2201861z10k. htm#bg11101a_main_toc Turocy, T. L, von Stenge, B (2001). Game Theory. Academic Press Limited, 2 (2), 69-73. 10. 1080/07430170152379371 doi: 8

Shakespearean Sonnet Explication Sonnet 146

SONNET 146 Poor soul, the center of my sinful earth, Lord of these rebel powers that thee array, Why dost thou pine within and suffer dearth, Painting thy outward walls so costly gay? Why so large cost, having so short a lease, Dost thou upon thy fading mansion spend? Shall worms, inheritors of this excess, Eat up thy charge? is this thy body’s end? Then soul, live thou upon thy servant’s loss, And let that pine to aggravate thy store; Buy terms divine in selling hours of dross;Within be fed, without be rich no more. So shalt thou feed on death, that feeds on men, And death once dead, there’s no more dying then. Sonnet 146, as in all Shakespearean sonnets, exemplifies the importance of poem structure. Following the rhyme scheme ABAB CDCD EFEF GG, this English sonnet (now called Shakespearean), distinguishes its author by the format in which it follows. Consisting of a total of fourteen lines, this body of this poem contains three quatrains and ends with a rhyming couplet.Not only does Sonnet 146 encompass all the necessities of a Shakespearean sonnet, it also displays William Shakespeare’s mastery in his use of control of language, tone, and meaning that is portrayed to the reader. In the opening of the poem, in quatrain one, we see the speaker as he wrestles with his own personal conflict between the spiritual and material state that he has found himself in. For here in this Shakespearean sonnet, the speaker addresses not a friend, lover, or mistress – only his own â€Å"poor soul† that has suddenly been placed at the center of his â€Å"sinful earth† (line 1).The speaker reprimands his soul for spending so much on its â€Å"outward walls† (line 4). In quatrain two, the poet asks the question of why so much effort is put into the investing of the things that are temporary: â€Å"Why so large cost, having so short a lease† (line 5). For at death, only worms will inherit the costly excesses. In quatr ain three, the speaker concludes his argument by warning his soul to use the body as â€Å"thy servant† (line 9).Let the outside wither -â€Å"pine†- so that the inner soul can prosper -â€Å"aggravate thy store† (line 10). In conclusion, the rhyming couplet shows us the speaker’s only solution to this inevitable fact of life – death. The soul needs to prepare itself for when the time comes and it must face death. For the soul can outlive the body, and even conquer death, as we see in line 13 and 14: â€Å"So shalt thou feed on Death, that feeds on men / And Death once dead, there's no more dying then. â€Å"This sonnet is one of few written by Shakespeare that reflects a more religious tone, as the words sinful, divine, and soul are present. What an interesting insight this provides to the reader about the writer’s own potential internal struggle with morality. For just as the speaker asserts here in this poem, so too us true for us in ou r own Christian faith – that when we focus on the body (the temporary) by allowing ourselves to worry over the adorning of it, then we do so at the expense of our soul (the eternal).

Classical Music Essay Example | Topics and Well Written Essays - 1250 words - 1

Classical Music - Essay Example Classical music is deeply rooted in the western liturgical and secular music. The development of classical music can be traced back from the 11th century to the present time. The main subject matters became to be codified between 1550 and 1900; this period is referred to as the common practice period. The history of classical music has been organized into various periods of development. When we talk about the history of classical music, we basically refer to thousands of years in its development and the considerable western influence and the ancient eastern music of the Asian continent. The various periods of classical music include: medieval, renaissance, baroque, classical, romantic and the contemporary period. The period between the years 0 to 1400 AD, was described as the medieval period. It is the longest period of the classical music history. During this period, Saint Gregory is credited for organizing the larger parts of classical music that developed in first centuries of the Christian church. Saint Gregory was the pope from 490 to 604.

Corporate Taxation in Germany and England Essay

Corporate Taxation in Germany and England - Essay Example Over the years both countries have introduced new tax reforms and Acts to serve the same purpose: to be more competitive in the global market. Decreasing corporate taxations can be quite advantageous to any country. Reduced numbers can mean more foreign investment in the country and a highly competitive business sector and that is exactly what Germany and England had sought out to accomplish. The first reform of the 21st century in Germany was introduced in 2000 and the latest one is being launched this year. Over the years Germany has successfully decreased its tax rates from a high percentage to a medium low percentage and has reaped many benefits. England has also cut down on its corporate tax and has achieved many of its goals successfully. Although there are many criticisms on focusing too much on cutting down corporate taxes instead of other taxes both the countries have accomplished part of the goal they had initially sought out to achieve. Corporation taxes are sometimes misunderstood because of their complexity and continuous scrutiny under the law. European countries have been on a mission to reduce their corporate taxes in the past few years to appeal to foreign investors and to be more competitive in the global market. Germany started off being one of the highest corporate taxing countries and has been in a continuous battle with itself do decrease these numbers. ... Germany started off being one of the highest corporate taxing countries and has been in a continuous battle with itself do decrease these numbers. England is also jumping on the bandwagon and following the lead of other European countries to reduce its corporate taxes. Over the years both countries have introduced new tax reforms and Acts to serve the same purpose: to be more competitive in the global market and keeping their corporations from relocating to lower taxing countries. "Corporations are legally capable associations based on the membership of persons; they are organized on a membership basis and exist independent of the change of the individual members. The legal form corporation is a legal person, whose "body" exists of individual natural or other legal persons." (Definition of corporation and scope of tax liability, n.d.) Only companies registered as joint stock companies or having limited liability are considered corporations whereas partnerships are considered to be small businesses that do not have corporate taxes levied on them. Each individual though has to pay a specific amount of tax on his or her net income. ." (Definition of corporation and scope of tax liability, n.d.) How much a corporation gets taxed within a year depends on its entire net income in the operating cycle and the taxes are levied according to German Acts and laws. (Determination of taxable income, n.d.) "The corporation tax rate for retained and distributed profits is 15 percent (Flat Tax).On the level of the involved parties, a capital gains tax is levied on principle with a tax rate of 20 percent." (Corporation tax rate, n.d.) All the balance sheets and accounts are reviewed for profits and loss for the proper taxes to be levied on the corporations. (Assessment Procedure,

Analysis of case study Essay Example | Topics and Well Written Essays - 1000 words

Analysis of case study - Essay Example It should also be expected that being trained professionals, crew members in these large vessels are expedient enough to do some of the quotidian tasks that they are well trained for. However, it is paradoxical to note that these professionals, expected to help in the case of a disaster, actually end up causing the disasters themselves through their negligent acts. This was certainly the case with the Soaring Albatross which shall be at the center of our study in this paper. I shall endeavor to identify the legal issues and analyze them in the context of this tragedy. The first legal issue that is presented by this tragedy has to do with gross negligence. This negligence happened on three levels in the case of the Soaring Albatross. There were negligence on the part of the crew, negligence on the part of the owners, and finally negligence on the part of the authorities i.e. the Financial Services authority. All this contributed directly to the tragedy (Anon 2000). In specific, to use the words of a judge delivering a ruling on another ferry incident, the crew seemed to suffer ‘a disease of sloppiness’. In any workplace there are respective responsibilities that are assigned to each person. This might be called specialization or even more simply the division of labor. The same case applies to a ferry. First there is a captain, there is a First Officer and crew members among several other professionals who might not be very relevant to the current paper (Anon 1987). The negligence on the part of the crew is astounding. The minimum expectance on the part of the crew is to ensure that their core and basic responsibilities are tended to. These include cleaning, but even more poignant in this case, closing the bow doors. This was the responsibility of the assistant boatswain, Michael Smith. However, he was asleep when the harbor-stations call sounded. In this case, there is what is called standing in for someone when they are not able to discharge their duties as they are expected (Mandaraka-Sheppard 2001). The person who was expected to step into these shoes was Thomas Johnson. However, he failed to do so because it was not his duty. On the face of it, this seems like a plausible excuse. However, when you begin to appreciate that his decision whether to close the doors or not had a bearing on peoples a life, including his own, the folly in his decision is clear for all to see. This is indeed is a level of negligence that borders on defiance. Being the last person on the G-deck, he should first have ensured that all was catered for since he was the boatswain. However, it does not stop there. There are several hierarchies in a ferry. Before the ferry set sail, the First officer, Jane Davis, according to the law is supposed to stay on deck until all the doors are closed. She did not do this since she assumed that Michael Smith had already done so. Finally, in as far as the negligence of the crew is concerned; there is negligence on t he part of the captain. The captain assumed that all doors were secured owing to his poor vantage point, and also to the fact that the ship’s design and absence of lights at the wheelhouse made it impossible to view them. Considering the number of tragedies that have happened owing exactly to the reasons given above, the captain should at least have done his due diligence before he set off. He should have learnt from the failure of others (Hughes 1999). Next, I shall look at negligence

Managing Organisational Change Essay Example | Topics and Well Written Essays - 3000 words

Managing Organisational Change - Essay Example So the above stated lines are indicating one more interesting technique to reach Organisational goals, that is changing the people's attitude, their way of working, and behaviour towards work so that Organisation can reach its objectives through change which is probably the only way for it to reach its goals as modernisation automatically changes the surroundings, behaviours of buyers, the variety of competition and so on. Globalisation is a recent word suggesting that there is a new cohesion in markets worldwide, which may imply that it is likely that change cannot be resisted or that the traditional local markets cannot be sheltered from the impact of such general change. Such claims might seem to have a surface validity. However, it is difficult to identify exactly how this interplay of forces is materially different from influences that have reinforced change in the past. An in-depth analysis of the change management, as in terms what is causing the change, would be conducted foc using on the Brazilian based manufacturing firm, Semco. External Change Drivers The business does not get changed itself, nor does it require it self to change without any need as the profitability (growth) or survival is the core objective of any business, but when it comes to change, only external factors make an organisation or business change primarily, afterwards the firm changes itself may be in internal manners. The External change drivers that can be seen commonly in this modern world or from the time the changes took place include Mega Environment1, it further includes Technological Element, in which the modern technology that is used outside the firm, perhaps around the world and by the competitors, tends to change the Organisation, the failure to use such technology can result in loss of values, customers, and most importantly long-term profits. Semco acquired new plants, came up with innovation in their manufacturing techniques through R&D and so it reduced the rejection rate, it further downsized the company by eliminating 23% of employees through attrition and incentive programs, the company had to do all this otherwise it would not have been able to cope with the external changes. The next external change is brought by Economic Element, of course the change in the country's wealth distribution, it's financial debt and the inflation can create unbalance in an Organisation or any busin ess, such as the decrease in the price of a certain commodity or product can have some negative impact on the firms profitability, specially if the country in which the Organisation is operated is a socialist economy in which the government owns a lot than the individuals, the importance of economic element is obvious from the fact that in1980 when Semco was seeking help from various banks and foreign companies, many of the institutions refused it because of the economic status of Brazil and further the Semco's poor