Ecomomic Regulation or competition policy Research Paper

Ecomomic Regulation or competition policy - Research Paper Example The relationship between Competition policy and Economic regulation will also be discussed. Comparison of the two approaches and the synergies that it will bring if both are used by the same agency. We also discuss some other concepts which include AJ effect and rate of return regulation. Literature Review In this literature review we will discuss in detail various concepts related to the topic. Economic Regulations George Stigler was the pioneer of the theory of economic regulation. He suggested that as rule regulations are designed in such a way that they benefit the industry who acquire them rather than protecting or benefitting the public. (Vane) He integrated the economics of regulation and economics of politics. According to him same analysis tools should be applied to both because both of them display self interested rational behavior. Economic regulation is a form of antitrust law in traditional economics through which concentration of wealth is controlled. The major objectiv e was that private motives of accumulation of wealth do not hurt the public interest. It was introduced to safeguard public interest. The intension was to protect public from economic abuses such as unreasonable prices, anticompetitive activities, to protect from sale of unethical products which are hazardous for health and safety of the public. The basic role of regulators was of the watchman of the public interest. In addition to that the role of regulators is of preventing monopoly and preserving competition. (Cochran) Background The regulatory scene which we witness today is significantly different from what it was in 1980’s. This phenomenon is due to massive privatization which gave birth to new regulatory apparatus. This process of privatization is now an international affair. Hence many countries and regions are now following this deregulation by trying to implement the best practices in other systems and avoiding the worst mistakes. A major problem with the deregulati on is that it is based on very weak logical foundation of improving efficiency. In the absence of competition this may not be the case. (Michael A Crew) Economic Regulation Theories It is important to note that study of regulation cannot be done in isolation. It has to be studied in the social, political and economic context in which it exists. The relative powers of different interest groups play their part in formulating and shaping the regulations. Different regulatory mechanisms interact with each other and once implemented they play an important role as the motives of decision makers. A thorough understanding of regulatory process is thus not possible without considering specific institutions, political structures and actors. Two major theories of government behavior about economic regulations are public interest approach and self interest theory or public choice theory. (Jan) Public Interest Approach According to this theory government intervention or regulation is required on ly to in case of market failure, when market is unable to achieve a particular social objective such as equality. Government intervention is needed to correct this failure. This approach is

Biography Assignment Essay Example | Topics and Well Written Essays - 1750 words

Biography Assignment - Essay Example d as a Prime Minister for two different periods including the 11 year period starting from 1966 and ending in 1977 and then she held the office of Prime Minister for a 4 year period ranging from 1980 to 1984. She was still holding the office when she was removed from the face of the earth through murder and she successfully became the only female Prime Minister in the history of India. This writing will focus on the leadership autobiography of Indira Gandhi and will reflect upon why she is one of the major examples of a successful leader. The way a leader leads is referred to his/her personal philosophy of leadership. Different leaders follow a different philosophy of leadership. Leaders follow the dictatorial, participative, delegative philosophies of leadership. Indira Gandhi and her actions reveal that she followed an autocratic form of leadership philosophy. A leader who follows this philosophy tends to communicate clear expectations that he/she may have from her followers. They do not only inform the followers about what needs to be done, they even tell them how operations are to be carried out. These leaders try to alienate themselves from the followers and create clear distinction between the two in the eyes of others. They themselves make the decisions and do not allow the followers to participate and expect the followers to follow those decisions obediently. One of the reasons due to which it is believed that Indira Gandhi was an autocratic leader is that she was held responsible for conducting acts of corru ption and even after she was found to be guilty, she did not give up her position and instead instated emergency after 19752. This shows that Indira Gandhi thought of herself as someone who is above all and has a higher status as compared to others. She did not only declare emergency. She even disallowed the press to report freely and she even went a step further by detaining members of opposition’s political parties. This shows that Indira Gandhi

Minimalism From Shaker Furniture to Oki Sato Research Paper

Minimalism From Shaker Furniture to Oki Sato - Research Paper Example Minimalism, today, has inspired millions of architects and designers around the world. While many have been exposed to minimalism in one form or another, very few understand and appreciate the underlying thought behind minimalism. Minimalism began as a very disjointed movement. It can be traced back to the time of the Shakers. The Shakers were basically a strong religious communal group of people who believed in simple living. Their belief of simple living extended to their architecture and furniture design which carried traced of minimalistic design. However, Minimalist design did not begin as a proper movement until the twentieth century. Minimalism in design gained momentum as a reaction towards Abstract Expressionism. It follows the principles of achieving more in less. Negative spaces in minimalist design are not feared; rather they appreciated by exposing them to bright white light. Oki Sato is one designer who appreciates the beauty of minimalism. For him, minimalism is beauti ful with its simple design. This paper will discuss the simplicity inherent in minimalistic design by exploring the characteristics of both ancient and modern minimalistic design. The Shakers represent the old minimalistic style while Oki Sato through his design studio, Nendo represent the modern take on minimalism. Because simplicity in design is straightforward, this paper displays the progression of minimalism from Shaker furniture to the more modern Oki Sato designs. The paper will first focus on defining the scope.

Memo- Gazprom and Itera Essay Example for Free

Memo- Gazprom and Itera Essay In the case study of Gazprom and Itera, we see how different companies and governmental organizations can potentially be able to exploit a large company such as Gazprom for a large profit. Gazprom is a large gas and oil company that is valued very cheaply compared to other large oil and gas companies (such as Exxon Mobil). Browder is a shareholder of Gazprom that identifies several questionable transactions that were done by Gazprom and other organizations that have relationships with Gazprom. He is questioning why the undervaluation could have occurred based on the business being conducted by the oil giant. The problem that exists for Gazprom is that the market perceives the company to have lost 99 percent of its assets, completely devaluing the price of its goods. In reality, only 10 percent of its assets were stolen, and the market is slowly trying to catch up to that truth. Browder is attempting to identify the transactions in order to solve the large problem at hand. These transactions include organizations that work with Gazprom such as Itera (a gas trading company) and PricewaterhouseCoopers (their internal auditor) devaluing the gas and oil Gazprom held in certain situations and reselling it for a profit. In one example, Itera bought gas valued at $35 a barrel from Turkmen gas and resold it to Gazprom for $45 a barrel. PwC thought this difference was acceptable due to transportation costs, even though those were already taken care of separately. In general, the lack of transparency and accountability being administered by management in Gazprom and its partner companies was a fail ure to its stockholders. Browder’s recommendations to the Russian government are vital, mainly due to the fact that it has a 38% controlling stake in Gazprom. Because the vast majority of the operations conducted by Gazprom occur within Russia’s boundaries, it is up to the government to set the correct standards and close loopholes so that organizations and individuals will not exploit such situations. Browder’s recommendations to the U.S. and to the Board of Directors of Gazprom could be essential for enacting change within the  corporate environment to prevent such scrupulous transactions. Though these changes could prove helpful in the reorganization of the company in the long run, the international political environment does not provide Gazprom with the best situation. The fact that Russia’s governmental body has so much stake in the company can greatly complicate things due to the personal influence of those running the government. Several members of the Russian government could fulfill a personal agenda using the government’s stake in the company as leverage (this could have been the case potentially with these transactions). This is also the case with PwC and Itera, both with a lot of power to take advantage of loopholes and other lucrative situations when it comes to Gazprom. There are several things Browder can do to combat this situation, but I think his strategy will be a difficult one to execute alone. He would need to collect more shareholder power before he steps forward with the resolutions. Involving the U.S. and Russian government will be difficult due to the lethargic manner in which these situations can be resolved. Taking care of the company from within should be he first move, but only with the appropriate number of people backing his plan.

The Fifth Child Essay -- literary Analysis, Doris Lessing

The intricate complexity and astonishingly realistic descriptions of space in Doris Lessing’s The Fifth Child masterfully illuminates society’s dire inability to cope with it’s imperfection. Society demands immaculate perfection, a world free of defect, and the lust to live in a flawless utopia drives the identification and elimination of crude invalids. These desolate individuals are feared and deemed to be barbarous degenerates who must be placed beyond the boarders of functioning society to assure an uncorrupted world. Less desirable beings are cast into heterotopias or â€Å"counter-sites† while society denies their existence and feigns perfection. Lessing’s novel tears this image down and hastily exposes society’s despicable attempts to marginalize, blame, and exile those regarded as abnormal and dysfunctional in the supposedly immaculate world. In The Fifth Child the precisely executed heterotopia of the institution draws on this theor y of a parallel space as a capsule for undesired bodies and Harriet, the mother of a repugnant beast, is victim to society’s brutality. Harriet is an outcast and her remarkably horrific interaction with the cruel institution further alienates her from her family and miserably casts her into her own tumultuous heterotopia. Throughout the novel Harriet’s striking differences are juxtaposed against the societal trends of the time and she is commonly viewed as a misplaced oddity. Early descriptions in The Fifth Child define Harriet as abnormal and her image places her outside of the robust and transitional society in which she lives. Harriet is a curious misfit and she â€Å"sometimes felt herself unfortunate and deficient in some way† (10). This recognition of inexplicable peculiarities soon establishe... ...ly illuminates and exploits the despicable views and problems in society. The novel exemplifies society’s elitist attitude and unjust marginalization of individuals who are regarded as degenerate, invalid and grotesque through Harriet. Her harrowing interactions with the magnificently developed and horrific institution highlights the pathetic attempts of society to displace individuals and dispose of them beyond their functioning boarders. In addition, Harriet’s parallels with the institution lead to her alienation from the world. She is regarded as grossly unnatural, criminalized, and left alone to raise her difficult son Ben. It is clear that Harriet’s unfortunate interaction and connection to the ghastly institution uncovers society’s unforgiving demeanor and demonstrates the terrible and irreparable rift between misunderstood, peculiar individuals and the world.

Employee Motivational Theories and Concepts Essay

Numerous theories on the subject of employee motivation have been developed and published for the better part of this century. While early employers thought of their workers as just another input into the production of goods and services (Lindner, 1998), employees were becoming increasingly dissatisfied with working conditions and malevolent management. As post-war, labor tensions mounted in the 1920s, employers needed to change their approach to employee relations if they were to avoid costly, and sometimes violent, labor strikes. Early motivational theories set the foundation for the development of 20th century concepts, including the move to get â€Å"Googled† and motivational techniques based on business strengths found in the corporate toolbox. Early Motivational Theories George Elton Mayo, an Australian-born psychologist and Harvard Professor, began significant research in 1927 in an attempt to demonstrate that employees, if appropriately motivated, are more productive and can achieve greater return through appropriate human relationship management techniques (Trahair & Zaleznik, 2005). This research, referred to as the â€Å"Hawthorne Studies,† found that employees are not only motivated by financial gain, but also by the behavior and attitude of their supervisors. During these studies, the employees responded positively to the mere fact that they were receiving attention from their supervisor as a result of the experiment. In his article, Gordon Marshall (1998) noted that â€Å"the term ‘Hawthorne effect’ is now widely used to refer to the behavior-modifying effects of being the subject of social investigation, regardless of the context of the investigation. More generally, the researchers concluded that supervisory style greatly affected worker productivity† (para. 1) and that â€Å"enhanced productivity therefore depends on management sensitivity to, and manipulation of, the ‘human relations’ of production† (para. 2). This represented a dramatic paradigm shift for employers and theorists alike. Subsequent to the conclusion of the infamous Hawthorne Studies, five primary motivational theories have developed that have increased the understanding of what truly motivates employees. They are Maslow’s need-hierarchy, Hertzberg’s two-factor system, Vroom’s expectancy theory, Adam’s equity theory, and Skinner’s reinforcement theory. Maslow identified that employees, in general, have five primary levels of needs that include psychological (e.g. air, food, shelter), safety (e.g. security, order, stability), belongingness (e.g. love, family, relationships), esteem (e.g. achievement, status, responsibility), and self-actualization (McLeod, 2007). Maslow further noted that, in order to provide motivation, the lower levels would need to be satisfied before one progressed to the higher levels. Hertzberg classified motivation into two, distinct factors. He believed that intrinsic factors (or motivators) produce job satisfaction through achievement and recognition while extrinsic (or hygiene) factors produce dissatisfaction. He identified extrinsic factors to be associated with compensation and perceived job security, or lack thereof. Vroom theorized that demonstrated effort would lead to performance which, in turn, would lead to reward (either positive or negative). The more positive the reward the more highly motivated the employee would be. To the contrary, negative rewards would result in a lesser motivated employee. Adams found that employees want to ensure that there is a sense of fairness and equity between themselves and their co-workers. He believed that equity is achieved when employees are contributing, in terms of input and output, at the same rate. Skinner’s theory was likely the most simplistic, He established that employees will repeat behaviors that lead to positive outcomes and eliminate or minimize behaviors that lead to negative outcomes. He conceived that, if managers positively reinforce desired behavior, it would lead to positive outcomes and that managers should negatively reinforce employee behavior that leads to negative outcomes (Lindner, 1998). James R. Lindner, Professor of Management and Research at Ohio State University, has conducted extensive research on this topic. In his paper â€Å"Understanding Employee Motivation,† he further extrapolated on the five theories, providing a comparative analysis, and offering a summary definition that focuses on the psychological process and â€Å"inner force† associated with the accomplishment of personal and organizational goals (Lindner, 1998). 20th Century Concepts In addition to studying popular theories associated with employee motivation, Lindner (1998) includes the methodology and outcomes of an independent study, conducted at Ohio State University, that sought to rank the importance of ten motivating factors. The results of this study were compelling; with â€Å"interesting work† ranking as number one over other more commonly identified motivators, such as wages and job security. In comparing these results with Maslow’s hierarchy of needs, among others, he found that the results are mixed, with the highest ranked factor (interesting work) being one of self-actualization and contrary to Maslow’s findings (Lindner, 1998). This presents a divergent result that challenges Maslow’s assumption that the lower needs must be satisfied before a person can achieve their potential and self-actualize (McLeod, 2007, para.16). This does not negate Maslow’s work, but rather demonstrates that a natural evolution may have taken place with the modern workforce due to the progression of motivation strategies. This is a credit to the work of early theorists, and a call to arms for those that continue this research. Get Googled But history has yet to definitively answer the question, â€Å"what is the best method(s) to motivate employees?† The imprecise answer continues to be: it depends. Many successful organizations incorporate a variety of programs aimed at motivating their employees, based on their specific population. Google Inc., for example, is leading the way to restructure management so that employees can streamline creative ideas that produce blockbuster new products. They are rewarding employees with perks like onsite swimming pools, allowing employees to bring their pets to work, providing onsite child care, and all the free food employees want (â€Å"How Google Inc. Rewards Its Employees,† 2010, Thinking Leaders, para.1). While this may not be realistic for every organization, there is something to be said about the fact that Google, Inc. is consistently ranked by Fortune magazine as the best place in the U.S. to work. However there are things that a company can do to motivate their employees that are low or no cost and likely already exist in their corporate toolbox. The Corporate Toolbox Most successful organizations pride themselves on their ability to promote their product or service to achieve the desired level of profitability. They develop strategic plans, set production goals and persuade their customers that they are best of the best in their field. They are advertisers and peddlers of wares. So what does this have to do with motivation? Robert Hershey, Director of James E. Rogers College of Law at the University of Arizona and contributing author to the Journal of Managerial Psychology, contends that there is a significant correlation between an organization’s ability to successfully promote their business and thrive at motivating their employees. He notes that â€Å"we do not need one more theory of motivation; we need better insight into the psychology of advertising. We can take some tried-and-true product advertising techniques that have been found to be effective and use them in a human resources and management context. But before we do that, the point must be made that, as a practical matter, our vocabulary and attention require a shift from the motivation jargon of needs, expectancy, two-factor theories, etc., to an emphasis on communications practices, because persuasion requires the transmission of information† (Hershey, 1993). If Hershey is correct, then an emphasis on communication and inclusion would create an environment ripe for employee motivation. One could also argue that, if communication is key, allowing input and empowered decision making is the next logical step to producing a motivated employee. Carolyn Wiley, Professor of Business at Roosevelt University, concurs with this notion and provides the following supporting statements in her article â€Å"Creating an Environment for Employee Motivation†: When employees have an opportunity to provide input, this increases their survival rate and their sense of commitment. In many very small companies, a natural sense of owners hip often develops among the employees. However, as companies grow, feelings of ownership and commitment start to decline. To increase commitment as the organization grows, managers must change how they define who retains control. Shared decision making is essential both to company success and employee survival. Workers generally do not resist their own ideas and decisions. Rather, they are motivated to fulfill them. (Wiley, 1992, para.14) While this may seem threatening to traditional leaders, it should not be viewed as surrendering control. Employees that are empowered through inclusion are ambassadors for organizational success. It is only through mutual success that both the employee and company thrive. It seems so simple, but eludes even the most progressive of companies. Most organizations are more inclined to spend thousands of dollars creating recognition programs, building home office environments, developing bonus structures and hosting employee appreciation events rather than recognizing that most employees are merely looking to be valued. The same attention that motivated the Hawthorne workers applies to the modern employee who just wants to contribute and receive credit for their effort. Conclusion There is certainly compelling evidence to indicate that employee motivation comes in many forms. Whether one places their belief in the theoretical assumptions of a Maslow or Hertzberg, their financial backing in the creation of a Google-esque environment, or capitalize on their organizational strengths to communicate and persuade, there is clear agreement that the ability to successfully motivate employees is essential for corporate success and sustainability. The concept of positive human relation management has finally taken its place at the forefront of organizational strategies and, with it, the evolution of employee motivation. References Trahair, R. & Zaleznik, A. (2005). Elton Mayo: The Humanist Temper. New Brunswick, NJ: Transaction Publishers Marshall, G. (1998). A Dictionary of Sociology; Hawthorne Studies. Retrieved from Encyclopedia.com: http://www.encyclopedia.com/doc/1O88-Hawthornestudies.html Lindner, James R. (1998). Journal of Extension; Understanding Employee Motivation. Retrieved from http://www.joe.org/joe/1998june/rb3.php McLeod, S. A. (2007). Simply Psychology; Maslow Hierarchy of Needs. Retrieved from http://www.simplypsychology.org/maslow.html How Google Inc. rewards its employees. (2010). Retrieved from Thinking Leaders website: http://www.thinkingleaders.com/archives/517 Hershey, R. (1993). A practitioner’s view of motivation. Journal of Managerial Psychology, 8(3), 10-10. Retrieved from http://ezproxy.arbor.edu:80/login?url=http://search.proquest. com/docview/ 215865845?accountid=13998 Wiley, C. (1992). Create an environment for employee motivation. HR Focus, 69(6), 14-14. Retrieved from http://ezproxy.arbor.edu:80/login?url=http://search.proquest.com/ docview/206781828?ac countid=13998

Arm Holdings Strategic Swot Analysis

This paper evaluates the strategic position and activities of the microchip producer ARM by means of a PESLE analysis and a Porter's six forces analysis to review the company's internal and external environment. Using these analytical tools, the author deems how well ARM's strategy fits within the constraints of the external environment, the distinctive elements of ARM's products and services that distinguish it from its competitors and the sustainability of this strategy in the long-term.The paper concludes that, while presently the semi-conductor industry is significantly challenging, ARM has developed a differentiated strategy, which is capable of competing with large rivals, such as Intel, and which is sustainable over the long-term sustainability. Table of Contents: Executive Summary Introduction Environmental Analysis PESTLE Analysis Competitive Stance Porter's Six Forces Analysis Scale and Scope Analysis of Strategy Evaluation of Sustainability Description From the Paper Sampl e of Sources UsedRelated Papers Cite this Analytical Essay Comment & Share From the Paper: â€Å"Overall it would appear that ARM is making use of a differentiated generic strategy. Here while in general terms the industry for microchips may be seen as one which has become increasingly commoditised in recent years with large incumbent suppliers such as Intel focusing upon producing large volumes at low costs (Roca and Sills, 2011). ARM would seem to have adopted an alternative approach in attempting to develop a niche product hich outperforms cheaper micro chip products in terms of energy efficiency and size. In other words, it may be seen as ARM has built its differentiated generic strategy based upon re-evaluating the needs of its customers and potential customers who have show a clear desire to purchase a generation of microchips which are suitable for inclusion in a range of communications products such as smart phones and tablet computers (hence need to be smaller).In addition , ARM may also be seen as attempting to tap into the growing market for energy efficient products which give numerous benefits to the consumer including cost savings, a feel good factor and in the case of industrial buyers, the ability to market their own products within increased environmental credentials†. Sample of Sources Used: BBC News. 2010. The ups and downs of social networks. Available online at: http://www. bbc. co. k/news/technology-10719042 [Accessed on 22/03/12]. Butterton, G, R. 1996. Pirates, dragons and the US. Intellectual property rights in China. Ariz legal review. 1081. Begg, D, Fischer, S, Dornbusch, R. 2008. Economics. 9th ed. London: McGraw-Hill. Economist. 2012. Space invaders. Available online at: http://www. economist. com/node/21542402 [Accessed on 22/03/12]. Grant, R, M. 2008. Contemporary strategy analysis. 6th ed. Oxford: Blackwell Publishing.