Construction project

Grant the Great Construction is a small construction company formed from the merger of Grant Thomas Construction &Right Build International. The company has successfully operated in the Durham North Carolina area for the past ten years working on both small and large scale construction, repair, and alteration projects. With the business boom that is occurring in Greensboro and the desire to improve overall profit margins, the company is planning to shift its target market from residential clients to the larger commercial customers. This business plan will lay out our goals and tasks to make this transition successful.Grant the Great Construction strives to offer the finest quality design, site preparation, cost estimates, construction, repair, and alteration to clients needing large scale construction services. History & Purpose working on both small and large scale construction, repair, and alteration projects.. Grant the Great Construction strives to offer the finest quality design , site preparation, cost estimates, construction, repair, and alteration to clients needing large scale construction services. Strengths Grant the Great Construction is a Design Build Firm. By being both owners to both esign the project and to construct the project.In some cases, the design is done in- house, but most often the Design-Builder engages the services of an outside architect as well as all of the subcontractors. As stated above, the intended result is that the project can be done more quickly because the construction can begin earlier in the process, even before the details are finalized. Weaknesses Being that Grant the Great Construction was built by merging two existing companies , there are different practices that each company has grown accustom to. Many of these differences can be overcome with proper advance planning and team eetings.We plan on building our company off the most successful practices of each company. Mission: Grant the Great Construction is dedicated to raising the levels of professionalism, integrity, ethical practice, and performance within the construction industry. Goal: 1. Establishing a strong and sustainable internal structure. 2. Developing a body of work and establishing a positive reputation. Strategy: As a new construction company we will invest in a model home and extensive packages of plans and images that clients can use to better understand what they're aying for when they contract with Grant the Great Construction.Marketing Internet promotion method is the key to our success: We plan to market ourselves by emphasizing our name and unique solutions through internet promotion. An amount of $10,000 for the style of the web page has been included in the Start-up expenses with ongoing maintenance expenses approximated monthly. Our Focus is commercial building and renovation tasks as our initial and primary focus on marketplaces. We will use our completed tasks to display our personalized venture management software t o potential clients. Organizational Plan

A Midsummer Night’s Dream

Reason, also known as logic and sensibility, is one's ability to think something through, keeping in mind the consequences of one's actions, while paying attention to all aspects of the problem. In ‘A Midsummer Night's Dream' Reason is explored against various types of Romantic love, including- Lust, committed love, young love and one sided love. Using examples in the play, it can be both proven and contradicted, that ‘Reason and Love keep little company together'. Hermia and Lysander, the play's young and lustful lovers prove that in ‘A Midsummer Night's Dream' while love is concerned, reason isn't. At the beginning of the play, the audiences are introduced to â€Å"fair Hermia† and her lover Lysander. Hermia wishes to marry Lysander, while her Father Eugeus, wants her â€Å"to marry with Dimitrius†, another Athenian men. Eugeus' force and commitment to the task of getting Hermia to marry Dimitrius, drives Hermia to desperation † Belike for want of rain, which I could well beteem them from the tempest of my eyes. † Lysander, wanting to marry Hermia, came up with a plan. He plans to go to his â€Å"widow aunt† who lives outside of Athens, where â€Å"There gentle Hermia, May I [Lysander] marry thee†. Hermia agrees to the plan. This shows that neither Lysander nor Hermia fully comprehend the possible outcomes of their intentions, since running away and getting married without permission can bring to them losing everything- Family, connections, respect and reputation. In their time, these were few of the most important things that a man or a woman can own. Thus Both Lysander and Hermia are willing, without listening to the voice of reason, to give it all up for Love. Moreover, Reason does not keep company in Helena's lust and love full head. Helena, Hermia's best friend, is in love with Dimitrius; however, it is a one-sided love, since Dimitrius is in love with Hermia. Thus Helena is jealous of Hermia, since â€Å"Dimitrius loves your [Hermia's] fair†. In aim to gain Dimitrius' thanks Helena â€Å"will go tell him of fair Hermia's flight†, then â€Å"to the woods will he [Dimitrius]†¦ pursue her [Hermia]†. By doing so, Helena clearly ignores her reason, since she thinks only of the attention she will be given by Dimitrius. Otherwise, Helena would have saw that she was, in fact, sacrificing her friendship with Hermia and endangering Hermia's happiness, just for another chance in romance. Yet again Helena looks through her reason, by following Dimitrius into the woods. In the woods, following Lysander and Hermia, Helena is all alone with Dimitrius â€Å"who loves [Helena] not†. Dimitrius is â€Å"wood within this wood† since he cannot â€Å"meet†¦ Hermia†. His frustration is increased by Helena who follows him. Dimitrius then threatens Helena to take â€Å"the rich worth of [Helena's] virginity† something which was most valuable to a woman at the time. In addition he threatens to â€Å"do [Helena] mischief in the woods†. Helen in replay says â€Å"Ay, in the temple, in the town, the field, you do me mischief†. Thus Helena is abandoning reason, in the name of lust, and love. Additionally, the play reveals the option that even old loving couple can lose their reason. Such is the case of Titania and Oberon- King and queen of the fairies. Titania is married to Oberon, and they both share long committed love. Firstly, the audiences witness a bitter fight between them, where Oberon is â€Å"passing fell and wrath†, since Titania will not give him † a little changeling boy†. In revenge, Oberon plots to put Titania under the spell of Love in Idleness. This flower † will make or men or women madly dote upon the next live creature that it sees†. Oberon, after years of loving Titania, lets his reason drop, and with no sympathy or regards for his â€Å"Queen† and â€Å"lady†, puts her under the spell. Titania, on her part wakes up to fall in lust (under the spell of Love in idleness) with Bottom, who wears a head of an ass. Not only that Titania lost her reason by falling in love with an ass, but also, since she does not question this sudden occurrence. Later on, after the lusty spell have been reversed by Oberon, It is revealed that , while in lust and out of reason Titania â€Å"gave† Oberon the changeling child- thus turning her back on her principles to take care of the boy. This shows, that even while in a committed-love relationship, lust can make one abandon his/hers reasoning. On the other hand, it is also showed that even while in love, Theseus uses his reason. Theseus' â€Å"nuptial hour draws on peace†, He is to marry Hippolyta, queen of the amazons. It is evident that love exists between the two:† Hippolyta, I woo'd thee with my sword and won thy love doing thee injury†¦ â€Å". As the ruler of Athens, one of Theseus' roles is to judge cases that are brought in front of him. As was discussed before, Eugeus brought in front of Theseus the case of Hermia and Lysander. According to the Athenian law, Hermia belongs to Eugeus and he â€Å"may dispose of her, which shall be either to [Dimitrius] or to her death† Instead of being over sympatric to Hermia and overruling Eugeus, or in other words, making and irrational decision, Theseus used his reason and introduced a third option for Hermia:† to abjure for ever the society of men†. It is important to remember that overruling Eugeus is irrational because it would discredit Theseus' leadership since he ignores his own law. Hence, Theseus proves that even while in love, reason can be involved. A Midsummer Night's Dream' explores many types of romantic love. Lust, committed, young and tempered, these are just a few examples. Furthermore, Shakespeare demonstrates how any of these can interfere with one's reasoning, leading them to do mischief, irrational and hasty decisions and actions. In contrast, it is also evident that there are examples where Love and reason can exist in harmony together. Many would agree with Bottom that â€Å"Reason and Love keep little company together nowadays†, and many would also agree that â€Å"Love has reasons which reason cannot understand. † [1] A Midsummer Night’s Dream Reason, also known as logic and sensibility, is one's ability to think something through, keeping in mind the consequences of one's actions, while paying attention to all aspects of the problem. In ‘A Midsummer Night's Dream' Reason is explored against various types of Romantic love, including- Lust, committed love, young love and one sided love. Using examples in the play, it can be both proven and contradicted, that ‘Reason and Love keep little company together'. Hermia and Lysander, the play's young and lustful lovers prove that in ‘A Midsummer Night's Dream' while love is concerned, reason isn't. At the beginning of the play, the audiences are introduced to â€Å"fair Hermia† and her lover Lysander. Hermia wishes to marry Lysander, while her Father Eugeus, wants her â€Å"to marry with Dimitrius†, another Athenian men. Eugeus' force and commitment to the task of getting Hermia to marry Dimitrius, drives Hermia to desperation † Belike for want of rain, which I could well beteem them from the tempest of my eyes. † Lysander, wanting to marry Hermia, came up with a plan. He plans to go to his â€Å"widow aunt† who lives outside of Athens, where â€Å"There gentle Hermia, May I [Lysander] marry thee†. Hermia agrees to the plan. This shows that neither Lysander nor Hermia fully comprehend the possible outcomes of their intentions, since running away and getting married without permission can bring to them losing everything- Family, connections, respect and reputation. In their time, these were few of the most important things that a man or a woman can own. Thus Both Lysander and Hermia are willing, without listening to the voice of reason, to give it all up for Love. Moreover, Reason does not keep company in Helena's lust and love full head. Helena, Hermia's best friend, is in love with Dimitrius; however, it is a one-sided love, since Dimitrius is in love with Hermia. Thus Helena is jealous of Hermia, since â€Å"Dimitrius loves your [Hermia's] fair†. In aim to gain Dimitrius' thanks Helena â€Å"will go tell him of fair Hermia's flight†, then â€Å"to the woods will he [Dimitrius]†¦ pursue her [Hermia]†. By doing so, Helena clearly ignores her reason, since she thinks only of the attention she will be given by Dimitrius. Otherwise, Helena would have saw that she was, in fact, sacrificing her friendship with Hermia and endangering Hermia's happiness, just for another chance in romance. Yet again Helena looks through her reason, by following Dimitrius into the woods. In the woods, following Lysander and Hermia, Helena is all alone with Dimitrius â€Å"who loves [Helena] not†. Dimitrius is â€Å"wood within this wood† since he cannot â€Å"meet†¦ Hermia†. His frustration is increased by Helena who follows him. Dimitrius then threatens Helena to take â€Å"the rich worth of [Helena's] virginity† something which was most valuable to a woman at the time. In addition he threatens to â€Å"do [Helena] mischief in the woods†. Helen in replay says â€Å"Ay, in the temple, in the town, the field, you do me mischief†. Thus Helena is abandoning reason, in the name of lust, and love. Additionally, the play reveals the option that even old loving couple can lose their reason. Such is the case of Titania and Oberon- King and queen of the fairies. Titania is married to Oberon, and they both share long committed love. Firstly, the audiences witness a bitter fight between them, where Oberon is â€Å"passing fell and wrath†, since Titania will not give him † a little changeling boy†. In revenge, Oberon plots to put Titania under the spell of Love in Idleness. This flower † will make or men or women madly dote upon the next live creature that it sees†. Oberon, after years of loving Titania, lets his reason drop, and with no sympathy or regards for his â€Å"Queen† and â€Å"lady†, puts her under the spell. Titania, on her part wakes up to fall in lust (under the spell of Love in idleness) with Bottom, who wears a head of an ass. Not only that Titania lost her reason by falling in love with an ass, but also, since she does not question this sudden occurrence. Later on, after the lusty spell have been reversed by Oberon, It is revealed that , while in lust and out of reason Titania â€Å"gave† Oberon the changeling child- thus turning her back on her principles to take care of the boy. This shows, that even while in a committed-love relationship, lust can make one abandon his/hers reasoning. On the other hand, it is also showed that even while in love, Theseus uses his reason. Theseus' â€Å"nuptial hour draws on peace†, He is to marry Hippolyta, queen of the amazons. It is evident that love exists between the two:† Hippolyta, I woo'd thee with my sword and won thy love doing thee injury†¦ â€Å". As the ruler of Athens, one of Theseus' roles is to judge cases that are brought in front of him. As was discussed before, Eugeus brought in front of Theseus the case of Hermia and Lysander. According to the Athenian law, Hermia belongs to Eugeus and he â€Å"may dispose of her, which shall be either to [Dimitrius] or to her death† Instead of being over sympatric to Hermia and overruling Eugeus, or in other words, making and irrational decision, Theseus used his reason and introduced a third option for Hermia:† to abjure for ever the society of men†. It is important to remember that overruling Eugeus is irrational because it would discredit Theseus' leadership since he ignores his own law. Hence, Theseus proves that even while in love, reason can be involved. A Midsummer Night's Dream' explores many types of romantic love. Lust, committed, young and tempered, these are just a few examples. Furthermore, Shakespeare demonstrates how any of these can interfere with one's reasoning, leading them to do mischief, irrational and hasty decisions and actions. In contrast, it is also evident that there are examples where Love and reason can exist in harmony together. Many would agree with Bottom that â€Å"Reason and Love keep little company together nowadays†, and many would also agree that â€Å"Love has reasons which reason cannot understand. † [1]

Descriptive Essay on a Scene Essay

As a child there was only one place I could describe as my home away from home. That place was my grandmothers. My Mimi’s has always been the true meaning of safe haven to me. Even today, as an adult, I find myself frequenting my Mimi’s house to visit my grandparents and bask in that peaceful feeling that, as far as I am concerned, can only be found there. Specifically, when I am in my Mimi’s kitchen I am engulfed with that welcomed comfort and serenity I can find nowhere else. The kitchen’s bar holds memories of a child sitting on it and being told all about life and the ways of the world, while the cabinets hold all kinds of cooking utensils that have been used to make food for family and fellowship, and then there is the fridge that, with all its photographs and family recipes magnetized on it, show a sense of family and tradition. Ann Jones’, or Mimi as most call her, kitchen is not a place known by many. It is a well-kept secret among family and is a sight to behold. This space has a wooden bar that surrounds the entire room. When you look at this bar it is plain to see that it is not unique in any way, but if you look deeper than its exterior view the cuts from a knife a woman used for chopping vegetables, while she educated her granddaughter on the ways of the world, can be seen clear as day. There are deep indentions from when she would lose her concentration in her chopping by becoming so enticed with talking to her only granddaughter. To some this bar is much more than ordinary. Read Also:  Topic for a Descriptive Essay In this spacious kitchen, cooking utensils can also be found all through the many different cabinets. When looking at these tools, it is plain to see that they have all been used numerous times for cooking many different meals. Sometimes used for numerous different cuisines to host large family and friendly gatherings between loves ones. Other times used to make small scratch made meals for the close family that visits as much as possible. Though all meals are made with love and secret recipes, it is those two kinds of cooking that leaves a mark that all of these pots, pans, and other kitchen tools show. Covering all sides of the fridge, many different pictures and recipes can be seen. It is this that gives the kitchen its sense of tradition and the warm feeling of family. The photos vary between all the people who pass by and stop for a visit. It is these people who are called family, whether they have the same blood or not. The recipes are where the tradition can be found. Some passed down for years and some newly acquired, but all have a purpose in the growing background and tradition that is being built in that very kitchen. My Mimi’s kitchen is old-timey and is has had no new or modern updates done to it. It certainly will not be winning any awards for best dà ©cor any time soon. Though it can be seen as ordinary in some ways, my Mimi’s kitchen has a very unique atmosphere and background. It is this extraordinary background that has shaped the look and feel of this place into something that cannot be imitated or duplicated. It is truly one of a kind.

Comparative Management Analysis of Two Firms. (Biogenta and Outback Assignment

Comparative Management Analysis of Two Firms. (Biogenta and Outback INC) - Assignment Example Comparative Analysis of Both Firms Organizational design and structure Organizational design and structure is main standing base of any corporation operating on a global and local level. If we look at the two scenarios both the companies are completely different in their perspective and focus of production but the nature of work demands innovation nonetheless (Mcfowler 2001). Organizational design and structure mainly consists of six major elements. These six elements consist of work specialization, departmentalization, chain of command, span of control, centralization or decentralization, formalization and traditional designs (Mcfowler 2001). Work specialization In terms of work specialization in organizations the term refers to how much pressure is put on to individuals within the organizations how through different processes each task is carried out. In both the organizations assigned to analyze each had an effective system of recruiting the most talented and skilled staff for the job but the problem for Outback lies in the external environmental forces too (Carroll 1985). The tourism industry is facing a shortfall because of which Australia requires a good number of 42,000 people by 2015. In such a scenario the staff hired should be valued and considered as an asset to the organization whereas the company is applying paternalism to the structure which is de motivating the staff to come up their ideas for revolution and change (Carroll 1985). On the other hand Biogenta is promoting its staff and making efficient use of its human capital by employing them in cross functional teams and making the best use of them (Carroll 1985). Departmental ization Both the organizations Biogenta and Outback have similar division of departments such as finance, marketing, human resource and support (Gitman and Mc Daniel 2009). Among the many types of departmentalization Biogenta chooses to go about product departmentalization and goes for cross functional teams and virtual teams from various departments to cater to different tasks. The good part about it is that it initiates a good flow of information within departments and the negative aspect is that it can only be applied to a limited category of products (Gitman and Mc Daniel 2009). As far as the case of Outback product departmentalization is applied to increase the levels of the system to satisfy family issues because of this there are limited follow up of organizational goals but yet efficient managerial distribution is carried out (Gitman and Mc Daniel 2009). Chain of command There is strict chain of command extending in Outback INC where authority is of supreme

Reading Response of FanShen Essay Example | Topics and Well Written Essays - 500 words

Reading Response of FanShen - Essay Example It appears off as somehow a culture shock being that he is Chinese - Chinese culture way of writing is more focused on a descriptive style, while often including words like ‘we’ as opposed to ‘I’. When examining Shen’s past experience in writing Chinese, he outlines, the expression ‘I’ to always be associated with another â€Å"unfortunate expression†, â€Å"individualism†, which is regarded as a synonym to the word selfishness in Chinese. China categorically emphasizes on their culture collectively as a whole, and the individualism concept is considered ethically immoral. It is considered immodest and disrespectful to use the expression ‘I’ since that is a labeled word for one person. The culture believes that using ‘we’ means including everyone, while the American culture context emphases intensely and enthusiastically on ‘I’, promote individualism. A claim of solitary expression as o pposed to Chinese collectivity expression. Because of Chinese emphasis on collective expression and modesty in linguistics, can they be branded as a more unified culture than the American society? The concept prompts the question of whether if America upheld her values and cultural morals more, the result would be an awarer and more tolerant nation1. The American culture privileges acknowledgment of â€Å"I† at the level of expression and ideology. The culture views the use of â€Å"I† as a norm. It is used as a way of expressing selfness a view that purposefully promotes individualism. Contrarily, the Chinese culture does not conform to the use of â€Å"I† as a means of self-expression rather views it as individualistic and self-centered. To some extent, it is agreeable that the Chinese perception promotes cohesiveness among cultural members as they tend to identify with each other as a â€Å"We†2. As a younger student, my writing sequence was more based on the fast delivery of critical issues when writing. There was no sequential buildup of ideas rather

Chapter 2 Assignment Example | Topics and Well Written Essays - 250 words

Chapter 2 - Assignment Example vantages of operating necessity model are that the main project is put on the course by preventing threats though it may reduce the money spend on funding the main project (Page47) Some of the desired result of applying project portfolio process is among other factors; to ensure fewer projects are selected thus easier to manage them, to help reduce competition among the projects and ensuring that the projects selected contribute to the organization’s strategy. To ensure projects benefits are more than the cost and that the projects selected have few risks and to ensure the project is monitored closely. Most firms tend to use SWOT analysis i.e. they can manage their projects basing on their strength, weaknesses, opportunities and threats. The Project portfolio process tends to bring together the goals and strategy of the organization with the project in the context (Page 65). The steps in project portfolio entail; establishing a project council, which should be made up of managers who will spearhead the project and help to plan on how the objectives of the projects will be achieved. The council will be responsible for the funding of the project and allocation of the resources to the various projects in the context. Identifying project categories and criteria comprises subdividing the project i.e. those that are very good and those that are less important. Different criteria’s are used to help evaluate their relative importance. Goals of the projects purpose and missions are listed and discussed to help determine how the goals will be achieved. Assessing resource availability entail; looking into both external and internal resources. Labor resources should also be evaluated and the human resource manager should be able to consider other human needs, In other words, human beings should not be allowed to work continuously over a long time. They should be accorded time to relax. Step 5 entails reducing the project and the criteria set i.e. the number of

Strategic Planning (Longitudinal Strategic Development Study) Coursework

Strategic Planning (Longitudinal Strategic Development Study) - Coursework Example . . . . . . . . 4 3.1 Development History . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .5 3.2 Prior Investments and Disinvestments. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5 3.3 Markets Served and Products Offered . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6-7 3.4 Resources Gained and Capabilities Developed . . . . . . . . . . . . . . . . . . . . . . . . . 7 3.5 Culture, Leadership and Management Style . . . . . . . . . . . . . . . . . . . . . . . . . .7-8 3.6 Strategies Pursued and Outcomes Achieved . . . . . . . . . . . . . . . . . . . . . . . . . . 8-9 4. Current Strategic Situation. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9 4.1 Trends in the Macro Environment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10-11 4.2 Changes in Industries and Markets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11 4.3 Strateg ic Resources, Assets and Capabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . 12 4.4 Financial Performance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12 4.5 Industry Position . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13 4.6 SWOT Analysis . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13 5. ... . . . . . . . . . . . . . . . . . . . 14-15 5.3 Choices for Future Strategies . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15-16 5.4 Evaluation of Available Options . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16 5.5 Justifications . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17 5.6 Getting to the Future First . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17 6. Conclusion . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17 7. Recommendation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17 ABSTRACT This paper covers the furniture industry with regards to the retailing industry. The industry is closely related to the home industry in the sense that people buy new furniture once they moved to a rental home or into a house they had recently bought. On this note, the furniture industry relies on new sales (when people buy entirely new furniture) to furnish a home or on replacement sales (when a furniture is worn due to use or is out of style). The paper discusses in broad terms the significant changes in the business environment such as new lifestyle patterns, threats such as the environmental movement and depletion of forests and the opportunities presented to pro-active industry players who can seize the opportunities to expand market shares and further revenue growth. The paper then focuses on the furniture group of IKEA which is from Sweden but is now present in some 40 countries and territories with about 316 stores (as of 2010, combined for franchised and company-owned

Alternative Dispute Resolution Essay Example | Topics and Well Written Essays - 3750 words

Alternative Dispute Resolution - Essay Example Anyway, there is no harm in so doing. Mediation is actually a class or a form of an alternative dispute resolution process.2 ADR therefore is the generic term. Arbitration, however, has a different meaning. We have to take notice of the variance because the case to be analyzed is also criticized for not distinguishing arbitration from mediation, although that aspect will not be included in this paper. Stated in another way, ADR is a collective description of methods of resolving disputes otherwise than through the normal trial process. It is one of several ways to resolve disputes outside the ambit of the courts or to make an attempt to settle the case if possible. It is a procedure where the parties are therefore given a chance to amicably patch up their differences over a certain dispute. This has to be done in view of the prospect that those involved in a controversy may be able to mend things without going to the court for a full-blown trial. That is why it is considered an alternative solution, meaning that it will take the place of court proceedings if the parties agree. The most logical reason for ADR is to stop the further clogging of cases in tribunals or judicial bodies and agencies. Courts all over the world are confronted by the humongous predicament of so many pending matters for the action or resolution of the judge or panel of judges.3 Why must the courts be unclogged of cases The simple answer to this is to give more quality time to the judges in deciding or resolving suits and other incidents brought before them for judicial determination. If judges have limited time to so decide or resolve, they cannot prepare good and well-studied rulings compared to when they have ample opportunity. From a macro viewpoint, decisions which are crafted under deadline pressures will not serve the ends of justice. It will become a matter of what is haste is waste. If courts are to make good decisions in a loaded environment, what will happen is that the more recent filings will have to wait. Resultant of that will be the slow disposal or resolution of cases. Of course, public opinion frowns upon tardy decisions under the caveat that justice that is delayed is like justice that is denied. A grievance that is addressed but not expeditiously as normally expected is the same as if there was no redress at all.4 How can ADR help the unclogging of cases in the courts The more cases that are resolved in the ADR or mediation level, the lesser the cases that will be forwarded to the courts for hearing or trial. Such a situation will give more elbow room and latitude for the judges in dispensing their functions more efficiently, effectively and speedily. What are the advantages of ADR Firstly, in resorting to the mediation process, the parties save on time, money and efforts if they finally come to an amicable settlement. And secondly, the hostilities among the enemies are reduced if not totally removed and amity, if there was any, is restored once the compromise agreement shall have been concluded. Halsey, in its paragraph 15, citing the distinguished Lord Justice Brooke in the case of Dunnett v Railtrack, credited skilled mediators for having achieved satisfactory results in many cases than could have been achieved in court proceedings.5 Taken altogether, the attendant features surrounding the use of the ADR process indicate that it is for the public

Doing business with integrity Essay Example | Topics and Well Written Essays - 250 words

Doing business with integrity - Essay Example Ultimately, he let his children work and manage the business which destroyed the relationships of the siblings because of the pride they have to maintain and because of greed. In the aforementioned movie, one can see the opportunity in the drug and gun business. However, since it is illegal, there are so many dangers involved in it. There are the risks of imprisonment, rivalry which could lead to fights or worse, deaths. Although there is indeed much money in the business, the risks are so high that it could be considered a lose-lose proposition. From the example seen through the godfather’s family, it is true that they became rich and powerful however, the children lived miserable lives. There have been fights in the family and because of fear of betrayal the dominant brother killed his other brothers and brother-in-law. What could be interesting in the real world though is that even in legal businesses, there will always be greed and betrayal. Perhaps the most important thin g that could be learned in the movie is doing business which he established and prospered. Ultimately, he let his children work and manage the business which destroyed the relationships of the siblings because of the pride they have to maintain and because of greed. In the aforementioned movie, one can see the opportunity in the drug and gun business. However, since it is illegal, there are so many dangers involved in it. There are the risks of imprisonment, rivalry which could lead to fights or worse, deaths. Although there is indeed much money in the business, the risks are so high that it could be considered a lose-lose proposition.

Tell me why Hume believes that Thesis (2) is true Essay

Tell me why Hume believes that Thesis (2) is true - Essay Example As we grow, we gain information about the world around us through our senses. These simple impressions of the world cause corresponding simple ideas. A burning feeling in our finger leads to the simple idea of ‘don’t touch that.’ These simple ideas are gathered as we grow. We may understand not to touch that if we don’t want to feel burning in our finger. We may also understand that hot food comes from that place, that that place is called stove and that stove is only burning if the top is red. These several simple ideas combine together to form complex ideas – don’t touch the top of the stove when it’s red because that means it is hot and will burn our finger. This type of sequential connection of impressions is essentially the evidence of memory. A group of memories, each themselves a collection of impressions, can then combine to create impressions of even more complex concepts which may include ideas of family, education or religion among other things. This is possible because these impressions can also be connected in non-sequential forms that comprise imagination. For example, the earlier memory of the burning stove might be translated into a red spiral skirt placed on a dancer as she twirls about a stage in an energetic dance celebrating summer. Imagination is necessary in order to develop these complex thoughts into complete ideologies by which one might live their life. For example, Hume indicates in this argument that God himself is a complex idea formed from simple ideas caused by simple impressions. Although the idea of God was sufficient proof for Descartes, Hume suggests that this idea does not require or prove that God truly exist. Our impressions, whether they are in the form of simple ideas, memories or imagination, become attached to words that we use to help us recall these impressions. However, these thoughts are always qualified with specific

Taylorism Essay Example | Topics and Well Written Essays - 1000 words

Taylorism - Essay Example Taylorism is the name given to Taylor's Scientific Management or the Classical Perspective. In a statement, Taylor said that "The principal object of management should be to secure maximum prosperity for the employer, coupled with maximum prosperity for the employee" [6]. This means that there should be a win-win situation for all the parties involved while no body would feel at a loss. In Taylor's view, the task of factory management was to determine the best way for the worker to do the job, to provide the proper tools and training, and to provide incentives for good performance. He broke each job down into its individual motions, analyzed these to determine which were essential, and timed the workers with a stopwatch. With unnecessary motion eliminated, the worker, following a machinelike routine, became far more productive. [5] With Taylor's radical theories of employee motivation and increased productivity, the organizations started to test them and gained favorable results. His theories began to change how organizations functioned. Before this time organizations were usually setup in homes or in formal businesses where the workspaces were open. There were no barriers to communication and ideas could flow freely among employees. Taylorism abruptly changed this feature of organizations. He proposed the concept of working in enclosed spaces so that each employee could get his or her own personal space. Also this was a way to cut down on social loafing in the organization. By this theory of 'division of labor', companies now assort work to each worker according to his skills set and capability to handle the type of work. [1] [3] According to Becker and Steele, "Taylorism has been a significant part of organizations from the early part of the century and has been polished by major American corporations for the last seventy-five years." [2] Some of the changes that are visible today in modern garment manufacturing are: [1] [3] [8] Hierarchical leadership Just like in every organization, garment manufacturing organizations also involves several chains in the organizational hierarchy. These levels include the management level who own and make high end decisions about which type of cloth, which style and how much to produce and whether to sell it locally or export it. The lower level employees actually work and oversee the mechanized production of the garments. Split locations for manufacturing and office work Generally there are a few locations where actually the garments are made and where the top

The American Exceptionalism Development Essay Example for Free

The American Exceptionalism Development Essay Since the begining of the founding of the English colonies, This land we now call America has always been looked upon as the promise land and land of opportunites. having the image of exceptionalism has been a great part of U.S history. from the founding of the English Colonies, throuhgh 1877, The American Identity was the image of _______________________________________ . Although many changes in ruling, laws, and roles happened during this period, American’s were still able to reach the expectiations they had since the beginning of their time. The United states started off as colonies in the 1600’s. When John Winthrope founded the colony of Massachusetts bay, he as a leader wanted to bring together a society of moral codes in reference to the bible. He gave the NOTION that New England was looked upon as a â€Å"city upon a hill† which was to mean that more American’s began to see themseves as exemplary and a model to the rest of the world. The American ideal at this period of time was to be seen as a model based on religion. â€Å"let us choose life, that we and our seed may live by obeying His voice and cleaving to h/im, for He is out life, and our prosperity.† (Winthrope, 1630) This helps understand that American’s were living based on God and obeying â€Å"Him†. As more time passed and more settlers arrive to the new land, the first colonial constitution came to action in 1639, known as The Fundamental Orders. This constituion paved the way for self-government and democratic freedom in the North American Colonies. If the idea of self-government never came to mind, American’s wouldn’t have been able to create laws against england and create laws and government to benefit the Americans. which soon lead to the freeing of power from BRITAIN, in having said that, would expand the ideals of the American Exceptionalism. In 1677, a charter for the separation of church and state was created, guaranteeing separation of church and state in the American colonies bringing the Americans closer to freedom. Blacks, however, did not recieve these rights, they soon at this time began introducing slavery. Women also had been looked down on simply because they are weak. By the 1700’s The coloies had begun to shape. Charters, Acts and laws have been established, more rights were given, but of course, Slaves were excluded. In 1738, the Great Awakening had begun to take full swing reshaping religious policies, and by 1763, the road to independence from Britan had begun. The Boston Massacre and The Boston Tea Party were two great events that showed how Americans began to push their way through and to fight for their independence. As American’s get closer to their independence, Women begin to GROW with ENTHUSIASM and curiosity about their rights. Right before the declaration of Independence of the Thirteen Colonies, Abigail Adams had written to John Adams about the â€Å"New code of laws† and how she wished, they be more considerate to the women and their rights. Abigail also threatens that â€Å"If particular care and attention is not paid to the ladies, we are determined to foment a rebellion and willl not hold ourselves bound by any laws in which we have no voice or representation.† (Adams 1776) This is a bold statement proves of another identity that America has: Women had no voice, nor representation in anything. From the 1600’s to the late 1700’s, America still has not changed in accordance to who is included in having rights; women always had the image of staying home and caring for housework and children, and slaves never had rights. A little after the personal corres pondence between Abigail and John, the Colonies finally gained their independence from Britain. Although the Declaration of lndependence, which was established July 4, 1776, did declare independence from Britain, this declaration also states laws to prevent something like the ruling of Britain happen again. In the declaration of independence it is stated that â€Å"We hold these Truths to be self-evident, that all Men are created equal, that they are endowed by their creator with certain unalienable Rights, that among these are life, liberty, and the pursuit of happiness† (Jefferson 1776) At the time, the words â€Å"All men are created equal† was not clarified unto who was created equal, did they mean all humans, or all males? The meaning behind â€Å"men† in that time period was meant for white men, or men who would vote, and had a voice and represintation. In this new ideal of America, many groups of people were excluded, such of those would again be women, and blacks. In 1783, however, Slaves do get their freedom if they served in the continental army. In 1801, when Thomas Jefferson gives out his first inaugural address In the Inaugural Address, he points to common underlying principles and a loyalty that transcends partisanship. He praised a minimal federal government, and avowed a federalism affirming â€Å"State governments in all their rights† as a shield against â€Å"antirepublican tendencies†. (Jefferson 1801) By this time, Jefferson is attempting to better the country by speaking out about what should be done, he tries to bring back the identity of being a model to the rest of the world. Not long after, in 1839, John L. O’Sullivan also points out America and it’s destination to better deeds on Manifest Destiny. Sullivan tells about the principles as a country that we are and how we are â€Å"the nstion of progress, of individual freedom, of universal enfranchisement.† (Sullivan 1839) When Sullivan speaks of America, he does include everyone as a whole. During this time period, this was the period of renewing, and revival in the United States. Because of this Manifest Destiny, many new opportunities were open to the people and many changes were made in the government, along with slavery. During this period of â€Å"renewing and revival† Women finally make an early move in women’s rights. Elizabeth Cady Stanton paired up with Lucrettia Mott, and wrote the Declaration of Sentiments in 1848. Stanton models directly on the declaration of Independence; it identified male patriarchy as the source of women’s oppression and demanded the vote for women as a sacred and inalienable right of republican citizenship. In the Declaration of Sentiments Stanton rewrites the declaration of independence with one of the tweaks being â€Å"We hold these truths to be self-evident; that all mem and women are created equal†(Stanton 1848) This reminds us of how American’s have gotten carried away from including everyone, now to just certain groups. During the 1800’s not only do women start movements, but blacks also begin to get some freedom as soon states begin to illigalize slavery and prohibit it. During the civil war, Abraham Lincoln gives out his gettysburg speech adress in 1863 and brings to attention the strive and perserverance these men have given to the w ar. †Fourscore and seven years ago our fathers broughtt forth on this continent a new nation, conceived in liberty and dedicated to the proposition that all men are created equal.† (Lincoln 1863) He highlighted the fact that liberty and equality were the core components for the emancipation of America. Lincoln urged the common man and politician to consider the lives lost in the attempt to save the nation from colonization, and pay tribute to the unsung heroes. He emphasized on the fact that the Gettysburg Address may be forgotten in time, but not the soldiers who willingly laid down their lives. By 1877, much has changed and been accomplished. moe states abolish slavery, and blacks finally have some rights in the Constitution, and representation in congress. Women still fought to get their voice and Congress now had control of the states rather than have another country take over. looking through the history that American’s went through from founding colonies to staying united as a whole, American’s managed to live up to those standards and ideals that they set for themselves in the beginning. although there were troubles throughout the years in including and excluding certain people, American’s strived through in still becoming exceptional and trying to include everyone in the country. Bibliography Adams, Abigail and John. Personal Correspondence. March-May, 1776. Cady Stanton, Elizabeth. Declaration of Sentiments. Seneca Falls, N.Y.: July 19th and 20th, 1848. Jefferson, Thomas. The Declaration of Independence of the Thirteen Colonies. 1776. Jefferson, Thomas. First Inaugural Address. Washington, D.C., 1801. Lincoln, Abraham. The Gettysburg Address. Gettysburg, Pennsylvania, 19 November 1863. L.O’Sullivan, John. On Manifest Destiny. 1839. Winthrope,John. The Modell of a Christian Charity. 1630.

Energy Crisis In Pakistan And Its Solutions Environmental Sciences Essay

Energy Crisis In Pakistan And Its Solutions Environmental Sciences Essay An energy crisis is any great shortfall in the supply of energy resources to an economy. It usually refers to the shortage of oil and additionally to electricity or other natural resources. The crisis often has effects on the rest of the economy, with many recessions being caused by an energy crisis in some form. In particular, the production costs of electricity rise, which raises manufacturing costs. For the consumer, the price of petrol and diesel for cars and other vehicles rises, leading to reduced consumer confidence and spending, higher transportation costs and general price rising. ENERGY CRISIS IN PAKISTAN Crisis  is one word which has become part of ordinary Pakistanis vocabulary like nothing else. First  we have sugar crisis, then wheat followed by electricity and to add more fuel to the fire now we are going through the worst gas shortage in our history. In Punjab this crisis has hurt the most with every person suffering its consequences. Thousands of daily waged workers have become jobless in industrial areas like Faisalabad, in homes women folk is suffering to feed their children, passengers wait for hours as the public transport has no CNG while those having personal transport wait for hours in order to obtain much required CNG refilling. Our innocent executives like their predecessor have a bucket full of excuses in order to justify this mismanagement. For price hike and declining economy they have the common tag line of market mechanism and global slowdown to justify this phenomena. In case of electricity and gas load shedding they can find no good reason but to curse increasing demand. The reality which they never accept is the fact that this shortfall is depriving our state from billions of rupees by not availing this opportunity of earning revenue, instead of wasting time on IMF imposed RGST and much more. Some conspiracy theories have floated for quite some time blaming this shortfall as a dirty mean to maximize their benefits. Like in electricity crisis they have managed to pull out the much debated Rental Power Projects while in case of gas shortage they are earning billions from taxes imposed on petroleum products and LPG. In short this recklessness can only be justified by only one reason, which is that our plans on day to day basis rather than planning in years as done in the developed countries. Energy resources have depleted! Whatever resources are available are simply too expensive to buy or already acquired by countries which had planned and acted long time ago. Delayed efforts in the exploration sector have not been able to find sufficient amounts of energy resources. Nations of the world which have their own reserves are not supplying energy resources anymore; only the old contracts made decades ago are active. Airplanes, trains, cars, motorbikes, buses and trucks, all modes of transportation are coming to a standstill. Many industries have closed due to insufficient power supply. Price of oil has gone above the ceiling. At domestic level, alternate methods like solar, biogas and other methods are being tried for mere survival.   The above is a likely scenario of Pakistan and around the globe after 25 years. A pessimistic view, but realistic enough to think about and plan for the future. But are we doing anything about it? Lets have a look at the current energy situation of Pakistan and the world.   Pakistans economy is performing at a very high note with GDP growing at an exceptional rate, touching 8.35% in 2004-05.In its history of 58 years, there has been only a few golden years where the economy grew above 7%. This year official expectations are that GDP growth rate will be around 6.5 7.0%. For the coming years, the government is targeting GDP growth rate above 6%. With economy growing at such a pace, the energy requirements are likely to increase with a similar rate. For 2004-05, Pakistans energy consumption touched 55.5 MTOE (Million Tons of Oil Equivalent).   The energy consumption is expected to grow at double digit if the overall economy sustains the targeted GDP growth rate of 6% by the government. Pakistans energy requirements are expected to double in the next few years, and our energy requirements by 2015 is likely to cross 120MTOE. By 2030, the nations requirement will be 7 times the current requirement reaching 361MTOE. Pakistans energy requirements are fulfilled with more than 80% of energy resources through imports.   On the other hand, international oil prices have not only broken all records but are touching new height every day directly or indirectly affecting the black gold industry. Moreover, speculators all around the world expect oil prices to touch $100 per barrel in medium term. With concerns over Irans nuclear program, terrorist issues in Nigeria and high economic growth in China India and their ever rising energy requirements, oil prices dont see any another way but to shoot upwards.   BACKGROUND OF CRISIS FEARED IN PAKISTAN Power crisis feared by 2007 The country may plunge into energy crisis by the year 2007 due to rising electricity demand which enters into double digit figure following increasing sale of electrical and electronic appliances on lease finance, it is reliably learnt Thursday. The country may face energy crisis by the year 2007 following healthy growth of 13 per cent in electricity demand during the last quarter, which will erode surplus production in absence of commissioning of any new power generation project during this financial year, informed sources told The Nation. As per Pakistan Economic Survey 2003-04, electricity consumption has increased by 8.6 per cent during first three-quarter of last fiscal year. However, a top level WAPDA official maintained that electricity demand surged up to 13 per cent during last quarter. The survey said household sector has been the largest consumer of electricity accounting for 44.2 per cent of total electricity consumption followed by industries 31.1 per cent, agriculture 14.3 per cent, other government sector 7.4 per cent, commercial 5.5 per cent and street light 0.7 per cent. Keeping in view the past trend and the future development, WAPDA has also revised its load forecast to eight per cent per annum as against previous estimates of five per cent on average. Even the revised load forecast has also failed all assessments due to which Authority has left no other option but to start load management this year, which may convert into scheduled load shedding over a period of two year, sources maintained. The country needs a quantum jump in electricity generation in medium-term scenario to revert the possibilities of load shedding in future due to shrinking gap between demand and supply of electricity at peak hours. According to an official report, the gap between firm supply and peak hours demand has already been shrunk to three digit (440 MW) during this fiscal and will slip into negative columns next year (-441 MW) and further intensify to (-1,457 MW) during the financial year 2006-07. The report maintained that the difference between firm supply and peak demand is estimated at 5,529 MW by the year 2009-10 when firm electricity supply will stand at 15,055 MW against peak demand of 20,584 MW. Chairman WAPDA Tariq Hamid at a Press conference Chairman WAPDA Tariq Hamid at a Press conference early this year warned about the possible energy crisis and stressed the need for quantum jump in power generation. The experts say it could only be possible through a mega project of hydropower generation; otherwise the gap between firm supply and peak demand will remain on the rise. QUEST FOR ENERGY SECURITY Energy has become an important prerequisite for the economic development of a country. On one hand it is used for the industrial and agricultural purposes and on the other hand it is required for domestic use of the citizens. Natural gas is the fastest growing primary energy source. Globally Energy Crisis in Pakistan 5 consumption of natural gas is projected to increase by nearly 70 percent between 2002 and 2025, with the most vigorous growth in demand expected among the emerging economies. Consumption of natural gas worldwide increases in the forecast by an average of 2.3 percent annually from 2002 to 2025, compared with projected annual growth rates of 1.9 percent for oil consumption and 2.0 percent for coal consumption. The electric power sector accounts for almost one-half of the total incremental growth in worldwide natural gas demand over the forecast period. SOUTH ASIA IS IMPORTANT TO WORLD ENERGY MARKETS South Asia is important to world energy markets because it contains 1.3 billion people and is experiencing rapid energy demand growth. After India, Pakistan and Bangladesh are the next largest South Asian countries in these categories. Economic and population growth in South Asia have resulted in rapid increases in energy consumption in recent years. The major energy issues facing South Asian nations today are keeping up with rapidly rising energy demand. Agency for energy consumption has projected that by the year 2010 South Asian countries shall be consuming more than double the current levels of primary commercial energy. THIRD LARGEST COUNTRY IN USE OF NATURAL GAS Pakistans largest energy source is natural gas, with demand and imports growing rapidly. Currently, natural gas supplies 49 percent of Pakistans energy needs. According to the Oil and Gas Journal (OGJ), as of January 1, 2005, Pakistan had 26.83 trillion cubic feet (Tcf) of proven natural gas reserves. Pakistan is looking to increase its gas production to support increasing consumption through Pipelines from Iran and Turkmenistan. Currently, Pakistan ranks third in the world for use of natural gas as a motor fuel, behind Brazil and Argentina. In addition, Pakistan hopes to make gas the fuel of choice for future electric power generation projects. Pakistan ambitiously seeks to increase oil production through new alliances with foreign companies. Pakistans net oil imports are projected to rise substantially in coming years as demand growth outpaces increases in production. WASTE TO ENERGY IS NEEDED IN PAKISTAN Electricity generation from Wastes Recent increase in pollution due to the human and industrial waste has forced the man to devise ways to use it as an energy source. Energy from the waste is a recycling process known as  incineration. The process of incineration is the combustion of waste material to generate electricity or heat at large. This trend of generating electricity is more popular in underdeveloped countries because they are facing the severe pollution hazards. Incineration reduces the waste and proves helpful in generating energy. Recent studies have shown that a pack of solid waste contains approximately 548 watts of energy which is equal to one barrel oil. As the world is getting polluted day by day and important energy resources are scarce waste energy can be a useful technique in many ways. First of all the solid waste from the industry and household can be controlled. Secondly it can be used to generate electricity. Waste from energy process not only helps reduce waste but also is a cheap and affordable way of generate energy. Many developed countries in the world are selling their useful solid industrial waste to the third world countries. Energy from waste is utilized to charge electric batteries as well. The heaps of garbage in the world are spreading diseases. All the populated countries in the world are thinking of transferring their garbage waste to barren lands in the world by paying a little fee. It may help those countries but can be fatal for the people living near those lands. Therefore the ultimate solution is to utilize this garbage to generate energy. Many forms of fuel can be generated through the recycle of waste material which includes biofuel, ethanol from wasted water, hydrogen from garbage and electricity. The various forms of waste can be utilized to overcome the energy crises as well. This can also prove to be a way of earning money. Waste energy power plant can provide electricity to many power projects, and one can actually sell electricity to hospitals, fountain homes and small enterprises. Energy waste power plants are also environment friendly.   The use of sanitary landfill techniques has immensely dropped form 8000 to 1,767 in United States alone in the recent years. USA also produces 2500MW energy each year with the help of waste energy only. Many other countries in the world are making use of the waste energy. Recently Sweden, Japan and India has implanted energy waste power plants at large. Underdeveloped countries like Pakistan have also started an energy waste power project with the cooperation of Apex civic authority. This power project has been started with a view to counter the severe energy crises in coming years. The increasing trend of urbanization and a change in the living style has led to the piles of waste in large cities. as mentioned earlier the waste to energy power plants can also create jobs for many. This energy can also be exported to poor countries. Waste energy can help us fight the extreme conditions of global warming due to industrial waste. Biggest benefit that this waste energy power plant gives is that we have a way to use alternative fuels to run cars and vehicles also. We can lower our dependence on basic fuel such as oil and gas. The rising prices and scarcity of oil and gas has diverted the attention of the world towards the use of waste energy projects. Rawalpindi to have solid waste converter technology RAWALPINDI, Jan 8: A private company was on Saturday given the task to generate fuel from garbage after buying it daily from the city government, with the hopes that Rawalpindi will have a cleaner look. The Waste Management of Pakistan (WMP) was declared successful bidder to install the first solid waste converter technology in Rawalpindi, generating refuse-derived fuel (RDF) from municipal waste such as plastics and biodegradable items. A high-powered committee, chaired by Commissioner Rawalpindi Division Zahid Saeed, and comprising DCO Rawalpindi Imdadullah Bosal, representatives of Planning and Development (PD), Public Health Engineering (PHE) Department, and Urban Unit, Punjab (UUP) announced the WMP as successful company for installing RDF plant. Two companies- Maple Leaf Ltd and WMP- had submitted proposals before the committee. Rawalpindis district administration will sell garbage to the company at Rs50 per ton. The total generation of waste in Rawalpindi city is around 800 tons daily, which means the district administration would earn Rs 40,000 a day once the company starts its operation. Mohammad Usman, a consultant of UUP, told Dawn that the cost of RDF plant was Rs80 million and it can separate combustible wastes from non-combustible ones. Importantly it can convert the entire garbage in the city into energy on daily basis with fertilizers as byproduct. Officials said the RDF plant would help reduce random disposal of garbage in the city besides helping the municipal authorities in timely lifting the trash from streets. It would be a major source of revenue for the local government on daily basis. The more the district government lifts garbage, the more would be its value. The company would daily pay money to the municipal agencies at transfer stations, Usman said. He said the garbage could be converted into gas, coal, fertilizer, fuel and electricity on the pattern of plants installed in Iran and other European countries. The idea to install the RDF plant in Rawalpindi came after Chief Minister Shahbaz Sharif visited Iranian city Mashad previous year where waste was converted into energy. The RDF is not only a source of energy and revenue but also helps maintain cleanliness in the city. The municipal authorities would now try to lift maximum quantity of garbage and the streets will remain clean round the clock, an official said. WIND ENERGY PROJECT A Project funded by Ministry of Science Technology Wind Energy is clean renewable source of energy and is also the worlds fastest growing energy resource. Pakistan Meteorological Department (PMD) with the financial collaboration of Ministry of Science Technology (MoST), has completed its project entitled Wind Power Potential Survey of Coastal Areas of Pakistan (Phase-I) in June 2005. Phase-II consisting of Wind Mapping of Northern Areas of Pakistan is own going since July 2005.The demand for energy has increased in tremendous proportions in the last few decades in Pakistan; the same is expected to increase further in the coming years. The primary sources of energy available in Pakistan are oil, natural gas, hydro and nuclear Power. At present oil accounts for approximately 45% of total commercial energy supply. The share of natural gas is 34% while that of hydel power remains roughly at 15%. The increase in cost of fossil fuel and the various environmental problems of large scale power generation have lead to increased appreciation of the potential of electricity generation from non-conventional sources. This has provided the planners and economists to find out other low cost energy resources. Wind and Solar energies are the possible clean and low cost renewable resources available in the country. The potential, for the use of alternative technologies, has never been fully explored in Pakistan. Wind power provides opportunity to reduce dependence on imported fossil fuel and at the same time expands the power supply capacity to remote locations where grid expansion is not practical. Recently conducted survey of Wind Power Potential along coastal areas of the country by Pakistan Meteorological Department (PMD), indicates that a potential exists for harvesting wind energy using currently available technologies, especially along Sindh coast. Gharo, one of the sites in Sindh where the wind data have been recorded and studied by PMD, has been selected for using the measured wind data the annual gross energy production by an 18 MW wind farm consisting of thirty 600 kW turbines will be 45 million kWh. Taking into account the wind turbine availability, net losses and wake effects in the wind farm the net annual energy production is estimated to 31 million kWh per year corresponding to a capacity factor of 28%. The total investment will be Rs: 850 million and pay back period will be 7-8 years. The capital cost of wind power projects ranges Rs 4 to 5 crore per MW. This gives a levelised cost of wind energy generation in the range of Rs: 2.50 to 3.00 per kWh, taking into consideration the fiscal benefits extended by the government. Wind Power Production There are two terms to describe basic electricity production. 1.  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Efficiency, 2.  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Capacity factor. Efficiency  refers to how much useful energy (electricity, in this case) we can get from an energy source. A 100 percent energy efficient machine would change all the energy put into it into useful energy. It would not waste any energy. There is no such thing as a 100 percent energy efficient machine. Some energy is always lost or wasted when one form of energy is converted to another. The lost energy is usually in the form of heat, which dissipates into the air and cannot be used again economically. How efficient are wind machines? Wind machines are just as efficient as most other plants, such as coal plants. Wind machines convert 30-40 percent of the winds kinetic energy into electricity. A coal-fired power plant converts about 30-35 percent of the chemical energy in coal into usable electricity. Capacity  refers to the capability of a power plant to produce electricity. A power plant with a 100 percent capacity rating would run all day, every day at full power. There would be no down time for repairs or refueling, an impossible goal for any plant. Coal plants typically have a 75 percent capacity rating since they can run day or night, during any season of the year. Wind power plants are different from power plants that burn fuel. Wind plants depend on the availability of wind, as well as the speed of the wind. Therefore, wind machines cannot operate 24 hours a day, 365 days a year. A wind turbine at a typical wind farm operates 65-80 percent of the time, but usually at less than full capacity, because the wind speed is not at optimum levels. Therefore, its capacity factor is 30-35 percent. Economics also plays a large part in the capacity of wind machines. Winds machines can be built that have much higher capacity factors, but it is not economical to do so. The decision is based on electricity output per dollar of investment. Capacity Factor, The annual energy output from a wind turbine is to look at the capacity factor for the turbine in its particular location. By capacity factor we mean its actual annual energy output divided by the theoretical maximum output, if the machine were running at its rated (maximum) power during all of the 8766 hours of the year. Example: If a 600 kW turbine produces 1.5 million kWh in a year its capacity factor is = 1500000: (365.25 * 24 * 600) = 1500000: 5259600 = 0.285 = 28.5 per cent. Capacity factors may theoretically vary from 0 to 100 per cent, but in practice they will usually range from 20 to 70 per cent, and mostly be around 25-30 percent. Pakistans first Wind Power Plant Pakistan has a considerable potential of wind energy in the coastal belt of Sindh, Balochistan and as well as in the desert areas of Punjab and Sindh. This renewable source of energy has however, not so far been utilized significantly. So far, large wind turbines for power generation have not been installed in Pakistan. However, about 30 wind mills for pumping water have been installed for experimental purposes in different parts of Sindh and Balochistan. In addition to the development activities in wind energy field for on grid electricity production, the wind energy is also being used for the electrification of remote off grid villages in the southern coastal areas of Pakistan. So far more than 18 villages have been electrified using micro wind turbines. Indigenous development of micro wind turbines has also commenced in Pakistan. Pakistans first ever Wind Power Plant of commercial scale was inaugurated by Prime Minister Syed Yousuf Raza Gilani on 19th April 2009 at Jhimpir, District Thatta, Sindh. PEACEFUL USES OF NUCLEAR ENERGY Nuclear technology for peaceful purpose is traditionally divided into five parts: Mining and processing of nuclear raw materials Mining and processing of nuclear raw materials, the production of enriched uranium, the fabrication of nuclear fuel elements, the design construction and operation of nuclear reactors and fuel reprocessing. Use in agriculture, medicine, industry, biology and hydrology Apart from the use of nuclear energy to produce electricity from power reactors, it has also been used extensively in agriculture, medicine, industry, biology and hydrology. Radiation is finding widespread use, like to improve the present varieties of fruit, vegetables and crops. The radiations given out by atomic reactors are sometimes used for the treatment of diseases like cancer. These radiations are also used to kill dangerous germs and insects in foods and cultivated fields. For the good of society The peaceful application of nuclear energy is one of several factors contributing to the process usually described as automation, more precisely perhaps: the process of rationalization, or the fusion of science and production in industry. Scientists have started using it for the good of society. Nuclear energy can be used for destruction as well as for construction Nuclear energy can be used for destruction as well as for construction. The world needs nuclear power and will need it more in the years to come. We can see the nuclear applications in industry, nuclear radiations and radioactive materials are providing more accurate control in the production of better and cheaper things. Produce electricity on a very large scale Another thing where Pakistan is lacking behind is the electricity. Nuclear energy can help is the supply of cheap electricity. Small amounts of radioactive materials are used in these plants to produce electricity on a very large scale. It can help in easy generation and regeneration of water to produce electricity. The best use of the nuclear energy is in the field of medical sciences, the diseases of the thyroid have been classified with the use of radio iodine which the gland absorbs far more easily. Other countries are also making efforts to produce electricity at cheap rates from atomic power plants. COAL TO GET ENERGY Coal is the cheapest and the most common fuel used directly or indirectly to produce electricity and heat in the world today. Global coal consumption was about 6.7 billion tons in 2006 and is expected to increase 48% to 9.98 billion tons by 2030, according to the US Energy Information Administration (EIA). China produced 2.38 billion tons in 2006. India produced about 447.3 million tons and Pakistan mined only about 8 million tons in 2006. 68.7% of Chinas electricity comes from coal. The United States consumes about 14% of the world total, using 90% of it for generation of electricity. The U.S. coal-fired plants have over 300 GW of capacity. Thar desert region in Pakistan is endowed with one of the largest coal reserves in the world. Discovered in early 1990s, the Thar coal has not yet been developed to produce usable energy. With the devastating increases in imported oil bill and the growing shortages of gas and electricity  in the country, the coal development is finally beginning to get the attention it deserves. Coal contributes about 20% of the worldwide greenhouse gas emissions but it is the cheapest fuel available, according to  Pew Center  on Global Climate Change. It can provide usable energy at a cost of between $1 and $2 per MMBtu compared to $6 to $12 per MMBtu for oil and natural gas, and coal prices are relatively stable. Coal is inherently higher-polluting and more carbon-intensive than other energy alternatives. However, coal is so inexpensive that one can spend quite a bit on pollution control and still maintain coals competitive position. It does seem that Pakistan is finally getting serious about utilizing its vast coal resources to produce electricity and gas. Talking recently with GeoTVs Hamid Mir, Pepco Managing Director Tahir Basharat Cheema shared the following list of coal projects being launched: 1. The Sind Government has awarded a 1200 MW project to extract Thar coal and produce electricity to Engro Power. 2. A similar 1200 MW project is being undertaken by Pepco in Thar. The Pepco project also includes a 700 Km transmission line to connect Thar plants with the national grid. 3. An experimental project for underground coal gasification is being built by Pakistani nuclear scientist Dr. Mubarakmand to tap underground coal to produce 50 MW. 4. Another experimental 50 MW project using pressure coal gasification is planned by Pepco. Thar Coal Power Project Pakistan, Gasifications and Deposits Today Pakistan is facing severe shortage of energy and electricity.  Pakistan energy crisis and its solution  is much debated issue in Pakistan and coal is important part of that debate. Pakistan is not using coal for the energy production and only 1% of energy is obtained from coal. Overall theglobal share of coal in power generation is 38%, the share of coal in energy production of China is 72% while 56% for India and more than 59% for US. Coal is found in all four provinces of Pakistan and especially Sindh has huge reserves of coal located in Lakhra, Sondra, Thar and Badin. The Thar coal deposits alone estimated at 185 billion tones.  Thar coal deposits were discovered in 1992 and it is irony that even after 18 years Pakistan fails to use this great source of energy production. Bureaucratic red tapism and centre-province tussles are main  reasons of failure of Thar coal   Pakistan project. The only viable project so far remains the coal-based 450 MW power plant in Lakhra. Lakhra coal Development Company has 44 mines fully developed. Recently  Dr. Mubarakmand who is appointed the member of Planning Commission of Pakistan  launched the Underground  Coal Gasification  UCG project for the conversion of underground coal into gas without bringing it above ground. Coal gas will be used to generate electricity which is badly needed in country. But  Thar coal deposits  will take another three to four years before they start generating electricity. With initial projects Pakistan can produce over 10,000 MW of electricity for 30 years and this capacity can be enhanced up to the 50,000 MW in future. Critics of  Thar coal project  says that the quality of coal is not good and due to this inferior quality of Thar coal it is not possible to generate electricity. Their other objection is that soil of those areas is also not suitable and can cause many technical problems. Thar coal project is of great importance for Pakistan. The electricity produced from the Thar coal project will cause only rupees 4 per unit and it will drastically improve the situation of electricity in country. Although due to climate change now world is against the coal-based power generation but major world powers are using coal as major source of energy generation. Pakistan can still opt for coal-fired power plants because it is not a big polluter and its contributions to gas emissions are hardly one per cent.  Coal reserves in Pakistan  are huge and  coal gasification in Pakistan  in new phenomenon which can help Pakistan to come out of this energy crisis. HYDRO POWER The most frequent way using in Pakistan is the hydro power, as electricity is one of the major problem now a day for Pakistan, because most of the business and other factory work or local work is done with the help of electricity. So its a major source of energy for the Pakistan and hydro power is one of the important and frequently used method used by Pakistan for the production of the electricity. Hydro power is generated by using electricity generators to extract energy from moving water. Historically people used the power of rivers for agriculture and wheat grinding. Today, rivers and streams are re-directed through hydro generators to produce energy, although there arepros and cons  as far as local ecosystems are concerned. The articles on this page explore the use of water to generate electricity. Solutions Short term solution Solution of current losses in the system is 24% The methodology that will provide immediate relief is the conservation and judicious use of whatever little energy is being produced in the country. The current losses in the system are 24% of the total power generated. These include losses incurred during transmission and distribution as well as due to theft. Wasteful consumption such as businesses remaining open till late at night and unnecessarily brightly lit also contribute to losses. By reducing these to 10 % we can save up to 300 MW of energy. The government should enforce shutting down businesses and forbidding excessive and unnecessary lighting during late hours. Zoning should be enforced in cities. Power switched off at scheduled hours in market zone Market zones can have their power switched off (load sh

How children become gendered adults

How children become gendered adults At birth we are identified as male /female through biological factors, whereas our gendered identity is produced through how female /male we feel, and our gendered role is nurtured through our cultural environment and social beliefs. The nature side of the debate suggests that our gender is decided at the same time as our sex, and our behaviour differences are instinctive and have helped us survive. The differences are mostly put down to the way our bodies and brains differ. Our chromosomes, hormones, and reproductive organs put us in one gender category. However it does not explain how there is different gender roles across different cultures hence ignores how gender roles could be learnt. Nurture helps explain our development within our cultured environment, and life experiences prepare us for our gendered adulthood. Environmental theories highlight how culture affects the individual, social learning theorists suggest that our gender is learnt, and challenges the nature point of view that it is innate. When we are born our sexual organs decide what gender we are, and our parents and culture influence our gender identity through learnt behaviours. Males and females are treated differently from birth; parents are powerful role models in the early years and expectations of appropriate behaviour for the childs gender can be rewarded or punished, thus a child will be more likely to repeat the rewarded behaviour which helps reinforce what is considered acceptable behaviour for the childs gender. As a child develops and grows they gain an understanding of gendered behaviours through their social environment, developing an understanding of gender identity. They learn to identify particular behaviours appropriate to their gender and will model and imitate through reinforcement, association with same sex p arent, and same sex models, and it is ongoing throughout their childhood and on into adolescence. (Smith 2002) Criticisms to this are that when a baby is born the way it is treated by adults is influenced by its sex. A study done by Will, Self and Datan in 1976 shows that when the same baby is dressed in blue/ pink adults behave differently to it. Children tend to model their behaviour on the same sex parent and learn what is most appropriate for their gender, leading to praise which reinforces their identity, they can also imitate their same sex models behaviour through play and toys. In todays society children are often raised by one-parent families and this theory does not allow for the fact that these children may be being brought up by a different sex model yet still continue to behave in their gendered role through dress and encouragement of appropriate/ behaviour regardless of having anyone to model it on. It can be criticised for placing too much importance on particular models behavioural influences and losing site of the childs individual personality by portraying children as a pass ive part of the process and ignores individual motivation and self-regulation Cognitive development was developed by Piaget believing that our gender identity develops first and then children pay attention to same sex role models. Kohlberg went on to suggest there are three main stages to gender identity that children go through; gender identity (up to three years) where the child can identify their sex but are not aware that it is fixed and cannot change. Gender stability, (three five years) where the child is aware that their gender is fixed but still make assumptions of peoples gender by clothes and hairstyles. Gender constancy (six years onwards) where the child is aware of their gender regardless of peoples appearance. (Stainton Rogers, 2001). When gender constancy is reached Kohlberg believes that children pass through cognitive development stages and acquire gender related behaviours by developing gender identity. Although cross cultural studies support the Kohlbergs stages through this theory children can describe themselves as boys or girls and know how to choose gender associated toys and activities before they can relate to gender sexual differences. It supports that gender recognition happens before gender identity becomes fixed. Weakness of this theory suggests that it solely takes stages of development into account, placing little importance on the role of biology, emotion, social environment or culture. It also does not account as to why masculinity and femininity are valued by society differently. (Haralambos.M, 2002) Sandra Benn says that it fails to explain why sex has dominance other potential categories such as race, religion and eye colour. (Stainton Rogers, 2001) In conclusion one thing both theories have in common is that they rely on observation and identification children have with members of the same sex. The differences Kohlberg believed that as a result of three stages of gender identity a child goes through, the child develops a gender recognition through cognitive understanding to his/her gender and gender roles. Bandura social learning theory suggested that childrens gender identity was done through socialization rather than biology and that childrens behaviour is seen to be learned from their society through process of reinforcement and modelling. Gendered behaviours can be learned through reinforcement and we are more likely to copy behaviour if we have seen others rewarded for that same behaviour. . I believe that both social learning theorist and cognitive development theorists oversimplify gender identity, although both agree that society and culture have some influence over gender identity, it is difficult to accurately assume that the role of socialisation alone produces gender identity as they do not take in to consideration the biological factors of chromosomes, hormones and sexual organs in the development of gender identity or roles. Both biology and socialization play a part in our understanding of our gendered identities and roles in our cultures. (973 words) Works Cited Haralambos.M, R. F. 2002. Psychology in Focus for A Level . Lancashire: Causeway Press. Maccoby. E.E, J. C. 1974. The Psychology of Sex Differences, (as reported in various commentaries). Stanford: Stanford University Press. Stainton Rogers, R. R. 2001. the Psychology of Gender and Sexuality. Berkshire: Open University Press. Unkown. 2007. About Gender. Retrieved January 3, 2010, from www.gender.org.uk: http://www.gender.org.uk/about/index.htm#psycho

The Importance of Being Earnest by Oscar Wilde :: essays research papers

Oscar Wilde, the author of The Importance of Being Earnest, was most definitely a peculiar character. This is present in his writings, particularly in the aforementioned work. The Importance of Being Earnest uses unusual situations and striking puns to produce a humor that would be enjoyed by nearly all peoples.   Ã‚  Ã‚  Ã‚  Ã‚  The Importance of Being Earnest was nearly a Victorian example of an episode of 'Seinfeld.'; The characters contained within often find themselves in the most peculiar of situations, so strange that we can find them humorous. They even, at times, seem to represent situations in which we may find ourselves involved. One such example is in Act One, where Jack realizes that Gwendolyn loves the name Ernest. He tries through several ways to talk to her and find out if she could love him if his name was Jack. She considers the entire question to be hypothetical and unimportant, since she's always known him to be Ernest. The entire dialogue that occurs during the discussion has humorous pieces that add to the colorful nature of the play. One piece of the dialogue is spoken by Jack, where he says, 'Gwendolyn, I must get christened at once—I mean, we must get married at once.'; Wilde shows how society would tend to care about what was on the outside of a person, such as their name or wealth, rather than their character.   Ã‚  Ã‚  Ã‚  Ã‚  Another such example of this situation is when Algernon is speaking to Cecily in regards to their engagement. Cecily knows Algernon to be Jack's brother, Ernest, and is in love with the name the same as Gwendolyn. Algernon tries to inquire, in a similar manner whether Cecily could love him if he bore another name, such as Algernon. Cecily responds in a similar manner. Wilde found one piece to be humorous, and as a result included it into the first Act. He then decided to repeat a similar situation in the second Act of the play.   Ã‚  Ã‚  Ã‚  Ã‚  Another example of Wilde's use of humor is in his witty remarks and epigrams. By using these devices, it adds color to a character, and helps to balance them well against others instead of creating a 'flat'; appearance. The most prominent character that demonstrates these attributes is Algernon, whose timing throughout the story is impeccable. In Act One, after Jack has finished speaking to Lady Bracknell about marrying Gwendolyn, Lady Bracknell exits the room.

Wireless Protocols :: essays research papers fc

Wireless Protocols As with all data transmission technologies, protocols govern the manner in which information is transferred between stations. A protocol is simply an agreed upon standard that all parties use to ensure that different devices can communicate with each other. Wireless protocols can be discussed on their own, and where they fit in the OSI protocol suite. For the sake of clarity, we will limit our discussion to wireless network implementations. Wireless protocols typically reside in layers 1 and 2, the application and presentation layers, respectively, of the OSI model. These two layers help direct how the data is gathered from the end station and prepared for transmission. The main wireless protocol are: IEEE 802.11 covering wireless Ethernet; 802.15 dealing with wireless personal area networks (WPAN), including Bluetooth technology; and 802.16 for broadband wireless access. 802.11 The IEEE 802.11 specification family consists of four different, primary specifications: †¢Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  802.11 – applies to wireless LANs and provides 1 or 2 Mbps transmission in the 2.4 GHz band using either frequency hopping spread spectrum (FHSS) or direct sequence spread spectrum (DSSS). †¢Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  802.11a – an extension to 802.11 that applies to wireless LANs and provides up to 54 Mbps in the 5GHz band. 802.11a uses an orthogonal frequency division multiplexing encoding scheme rather than FHSS or DSSS. †¢Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  802.11b (also referred to as 802.11 High Rate or Wi-Fi) – an extension to 802.11 that applies to wireless LANS and provides 11 Mbps transmission (with a fallback to 5.5, 2 and 1 Mbps) in the 2.4 GHz band. 802.11b uses only DSSS. 802.11b was a 1999 ratification to the original 802.11 standard, allowing wireless functionality comparable to Ethernet. †¢Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  802.11g – applies to wireless LANs and provides 20+ Mbps in the 2.4 GHz band. †¢Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  802.11n – applies to future standards for wireless data transmission that promises a maximum bandwidth of 108 Mbps through the use of multiple antennas (MIMO). Strangely, the order of inception is not alphabetical. Rather, the specifications developed as follows: 802.11; 802.11b; 802.11a; 802,11g; and the projected 802.11n. The 802.11 family specifies the way in which wireless devices communicated with wired LAN base stations, or access points. Wireless-to-wired communication is known as infrastructure mode. A second mode, known as ad hoc mode, specifies the manner in which direct communication between wireless devices occurs. Three of the four current specifications use the 2.4 GHz band. This is an unlicensed bandwidth, which means it is available free of charge to anyone with the technical to use it. Wireless Protocols :: essays research papers fc Wireless Protocols As with all data transmission technologies, protocols govern the manner in which information is transferred between stations. A protocol is simply an agreed upon standard that all parties use to ensure that different devices can communicate with each other. Wireless protocols can be discussed on their own, and where they fit in the OSI protocol suite. For the sake of clarity, we will limit our discussion to wireless network implementations. Wireless protocols typically reside in layers 1 and 2, the application and presentation layers, respectively, of the OSI model. These two layers help direct how the data is gathered from the end station and prepared for transmission. The main wireless protocol are: IEEE 802.11 covering wireless Ethernet; 802.15 dealing with wireless personal area networks (WPAN), including Bluetooth technology; and 802.16 for broadband wireless access. 802.11 The IEEE 802.11 specification family consists of four different, primary specifications: †¢Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  802.11 – applies to wireless LANs and provides 1 or 2 Mbps transmission in the 2.4 GHz band using either frequency hopping spread spectrum (FHSS) or direct sequence spread spectrum (DSSS). †¢Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  802.11a – an extension to 802.11 that applies to wireless LANs and provides up to 54 Mbps in the 5GHz band. 802.11a uses an orthogonal frequency division multiplexing encoding scheme rather than FHSS or DSSS. †¢Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  802.11b (also referred to as 802.11 High Rate or Wi-Fi) – an extension to 802.11 that applies to wireless LANS and provides 11 Mbps transmission (with a fallback to 5.5, 2 and 1 Mbps) in the 2.4 GHz band. 802.11b uses only DSSS. 802.11b was a 1999 ratification to the original 802.11 standard, allowing wireless functionality comparable to Ethernet. †¢Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  802.11g – applies to wireless LANs and provides 20+ Mbps in the 2.4 GHz band. †¢Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  802.11n – applies to future standards for wireless data transmission that promises a maximum bandwidth of 108 Mbps through the use of multiple antennas (MIMO). Strangely, the order of inception is not alphabetical. Rather, the specifications developed as follows: 802.11; 802.11b; 802.11a; 802,11g; and the projected 802.11n. The 802.11 family specifies the way in which wireless devices communicated with wired LAN base stations, or access points. Wireless-to-wired communication is known as infrastructure mode. A second mode, known as ad hoc mode, specifies the manner in which direct communication between wireless devices occurs. Three of the four current specifications use the 2.4 GHz band. This is an unlicensed bandwidth, which means it is available free of charge to anyone with the technical to use it.

Monopolistic Competition

INTRODUCTION Pure monopoly and perfect competition are two extreme cases of market structure. In reality, there are markets having large number of producers competing with each other in order to sell their product in the market. Thus, there is monopoly on the one hand and perfect competition, on the other hand. Such a mixture of monopoly and perfect competition is called monopolistic competition. It is a case of imperfect competition. The model of monopolistic competition describes a common  market structure  in which firms have many competitors, but each one sells a slightly different product. Monopolistic competition as a market structure was first identified in the 1930s by American economist  Edward Chamberlin, and English economist  Joan Robinson. Many small businesses operate under conditions of monopolistic competition, including independently owned and operated high-street stores and restaurants. In the case of restaurants, each one offers something different and possesses an element of uniqueness, but all are essentially competing for the same customers. The aim of the given work is the study of monopolistic competition. The paper consists of introduction, body, conclusion and bibliography. In the introduction the aim of the work is defined and the structure of the paper is described. The body gives the definition of monopolistic competition, studies it main characteristics and comments on the main advantages and disadvantages of monopolistic competition. Conclusion sums up the results of the study. Bibliography comprises the list of references used when carrying out the work. MONOPOLISTIC COMPETITION Monopolistic competition  is a type of  imperfect competition  such that competing producers sell products that are  differentiated  from one another as good but not perfect  substitutes, such as from branding, quality, or location. In monopolistic competition, a firm takes the prices charged by its rivals as given and ignores the impact of its own prices on the prices of other firms. In a monopolistically competitive market, firms can behave like  monopolies  in the  short run, including by using market power to generate profit. In the  long run, however, other firms enter the market and the benefits of differentiation decrease with competition; the market becomes more like a  perfectly competitive  one where firms cannot gain economic profit. In practice, however, if consumer rationality/innovativeness is low and heuristics are preferred,  monopolistic competition  can fall into  natural monopoly, even in the complete absence of government intervention. In the presence of coercive government, monopolistic competition will fall into  government-granted monopoly. Unlike perfect competition, the firm maintains spare capacity. Models of monopolistic competition are often used to model industries. Examples of industries with market structures similar to monopolistic competition include  restaurants,  cereal,  clothing,  shoes, and service industries in large cities. The â€Å"founding father† of the theory of monopolistic competition is  Edward Hastings Chamberlin, who wrote a pioneering book on the subject  Ã¢â‚¬Å"Theory of Monopolistic Competition†Ã‚  (1933). Joan Robinson  published a book  Ã¢â‚¬Å"The Economics of Imperfect Competition†Ã‚  with a comparable theme of distinguishing perfect from imperfect competition. Monopolistically competitive markets have the following characteristics: * There are many producers and many consumers in the market, and no business has total control over the market price. * Consumers perceive that there are non-price differences among the competitors' products. There are few  barriers to entry  and exit. * Producers have a degree of control over price. The long-run characteristics of a monopolistically competitive market are almost the same as a perfectly competitive market. Two differences between the two are that monopolistic competition produces heterogeneous products and that monopolistic competition involves a great deal of non-price competition, which is based on subtle product differentiation. A firm making profits in the short run will nonetheless only  break even  in the long run because demand will decrease and average total cost will increase. This means in the long run, a monopolistically competitive firm will make zero  economic profit. This illustrates the amount of influence the firm has over the market; because of brand loyalty, it can raise its prices without losing all of its customers. This means that an individual firm's demand curve is downward sloping, in contrast to perfect competition, which has a  perfectly elastic  demand schedule. Monopolistically competitive markets exhibit the following characteristics: 1. Each firm makes independent decisions about price and output, based on its product, its market, and its  costs of production. . Knowledge is widely spread between participants, but it is unlikely to be perfect. For example, diners can review all the menus available from restaurants in a town, before they make their choice. Once inside the restaurant, they can view the menu again, before ordering. However, they cannot fully appreciate the restaurant or the meal until after they have dined. 3. The   entrepreneur  has a more significant role than in firms that are perfectly competitive because of the increased risks associated with decision making. 4. There is freedom to enter or leave the market, as there are no major  barriers to entry  or exit. 5. A central feature of monopolistic competition is that products are differentiated. There are four main types of differentiation: a. Physical product differentiation, where firms use size, design, colour, shape, performance, and features to make their products different. For example, consumer electronics can easily be physically differentiated. b. Marketing differentiation, where firms try to differentiate their product by distinctive packaging and other promotional techniques. For example, breakfast cereals can easily be differentiated through packaging. c. Human capital differentiation, where the firm creates differences through the skill of its employees, the level of training received, distinctive uniforms, and so on. d. Differentiation through distribution, including distribution via mail order or through internet shopping, such as Amazon. com, which differentiates itself from traditional bookstores by selling online. 6. Firms are  price makers  and are faced with a downward sloping  demand curve. Because each firm makes a unique product, it can charge a higher or lower price than its rivals. The firm can set its own price and does not have to ‘take' it from the industry as a whole, though the industry price may be a guideline, or becomes a constraint. This also means that the demand curve will slope downwards. 7. Firms  operating under monopolistic competition usually  have to engage in advertising. Firms are often in fierce competition with other (local) firms offering a similar product or service, and may need to advertise on a local basis, to let customers know their differences. Common methods of advertising for these firms are through local press and radio, local cinema, posters, leaflets and special promotions. 8. Monopolistically competitive firms are assumed to be  profit maximisers  because firms tend to be small with entrepreneurs actively involved in managing the business. 9. There are usually a large numbers of independent firms competing in the market. Product differentiation Monopolistic competition firms sell products that have real or perceived non-price differences. However, the differences are not so great as to eliminate other goods as substitutes. Technically, the cross price elasticity of demand between goods in such a market is positive. In fact, the XED would be high. Monopolistic competition goods are best described as close but imperfect substitutes. The goods perform the same basic functions but have differences in qualities such as type, style, quality, reputation, appearance, and location that tend to distinguish them from each other. For example, the basic function of motor vehicles is basically the same – to move people and objects from point A to B in reasonable comfort and safety. Yet there are many different types of motor vehicles such as motor scooters, motor cycles, trucks, cars and SUVs and many variations even within these categories. There are many firms in each monopolistic competition product group and many firms on the side lines prepared to enter the market. A product group is a â€Å"collection of similar products†. The fact that there are â€Å"many firms† gives each MC firm the freedom to set prices without engaging in strategic decision making regarding the prices of other firms and each firm's actions have a negligible impact on the market. For example, a firm could cut prices and increase sales without fear that its actions will prompt retaliatory responses from competitors. How many firms will an MC market structure support at market equilibrium? The answer depends on factors such as fixed costs, economies of scale and the degree of product differentiation. For example, the higher the fixed costs, the fewer firms the market will support. Also the greater the degree of product differentiation – the more the firm can separate itself from the pack – the fewer firms there will be at market equilibrium. In the long run there is free entry and exit. There are numerous firms waiting to enter the market each with its own â€Å"unique† product or in pursuit of positive profits and any firm unable to cover its costs can leave the market without incurring liquidation costs. This assumption implies that there are low start up costs, no sunk costs and no exit costs. The cost of entering and exit is very low. Each monopolistic competition firm independently sets the terms of exchange for its product. The firm gives no consideration to what effect its decision may have on competitors. The theory is that any action will have such a negligible effect on the overall market demand that an MC firm can act without fear of prompting heightened competition. In other words each firm feels free to set prices as if it were a monopoly rather than an oligopoly. Monopolistic competition firms have some degree of market power. Market power means that the firm has control over the terms and conditions of exchange. An MC firm can raise it prices without losing all its customers. The firm can also lower prices without triggering a potentially ruinous price war with competitors. The source of an MC firm's market power is not barriers to entry since they are low. Rather, an MC firm has market power because it has relatively few competitors, those competitors do not engage in strategic decision making and the firms sells differentiated product. Market power also means that an MC firm faces a downward sloping demand curve. The demand curve is highly elastic although not â€Å"flat†. There are two sources of inefficiency in the MC market structure. First, at its optimum output the firm charges a price that exceeds marginal costs, the MC firm maximizes profits where MR = MC. Since the MC firm's demand curve is downward sloping this means that the firm will be charging a price that exceeds marginal costs. The monopoly power possessed by an MC firm means that at its profit maximizing level of production there will be a net loss of consumer (and producer) surplus. The second source of inefficiency is the fact that MC firms operate with excess capacity. That is, the MC firm's profit maximizing output is less than the output associated with minimum average cost. Both a PC and MC firm will operate at a point where demand or price equals average cost. For a PC firm this equilibrium condition occurs where the perfectly elastic demand curve equals minimum average cost. A MC firm’s demand curve is not flat but is downward sloping. Thus in the long run the demand curve will be tangent to the long run average cost curve at a point to the left of its minimum. The result is excess capacity. While monopolistically competitive firms are inefficient, it is usually the case that the costs of regulating prices for every product that is sold in monopolistic competition far exceed the benefits of such regulation. The government would have to regulate all firms that sold heterogeneous products—an impossible proposition in a  market economy. A monopolistically competitive firm might be said to be marginally inefficient because the firm produces at an output where average total cost is not a minimum. A monopolistically competitive market might be said to be a marginally inefficient market structure because marginal cost is less than price in the long run. Another concern of critics of monopolistic competition is that it fosters  advertising  and the creation of  brand names. Critics argue that advertising induces customers into spending more on products because of the name associated with them rather than because of rational factors. Defenders of advertising dispute this, arguing that brand names can represent a guarantee of quality and that advertising helps reduce the cost to consumers of weighing the tradeoffs of numerous competing brands. There are unique information and information processing costs associated with selecting a brand in a monopolistically competitive environment. In a monopoly market, the consumer is faced with a single brand, making information gathering relatively inexpensive. In a perfectly competitive industry, the consumer is faced with many brands, but because the brands are virtually identical information gathering is also relatively inexpensive. In a monopolistically competitive market, the consumer must collect and process information on a large number of different brands to be able to select the best of them. In many cases, the cost of gathering information necessary to selecting the best brand can exceed the benefit of consuming the best brand instead of a randomly selected brand. Evidence suggests that consumers use information obtained from advertising not only to assess the single brand advertised, but also to infer the possible existence of brands that the consumer has, heretofore, not observed, as well as to infer consumer satisfaction with brands similar to the advertised brand The advantages of monopolistic competition Monopolistic competition can bring the following advantages: 1. There are no significant  barriers to entry; therefore markets are relatively  contestable. 2. Differentiation creates diversity, choice and utility. For example, a typical high street in any town will have a number of different restaurants from which to choose. 3. The market is more efficient than monopoly but less efficient than perfect competition – less allocatively and less productively efficient. However, they may be dynamically efficient, innovative in terms of new production processes or new products. For example, retailers often constantly have to develop new ways to attract and retain local custom. The disadvantages of monopolistic competition There are several potential disadvantages associated with monopolistic competition, including: 1. Some differentiation does not create utility but generates unnecessary waste, such as excess packaging. Advertising may also be considered wasteful, though most is informative rather than persuasive. 2. As the diagram illustrates, assuming profit maximisation, there is allocative inefficiency in both the long and short run. This is  because price is above marginal cost in both cases. In the long run the firm is less allocatively inefficient, but it is still inefficient. . There is a tendency for excess capacity because firms can never fully exploit their fixed factors because mass production is difficult. This means they are  productively inefficient  in both the long and short run. However, this is may be outweighed by the advantages of diversity and choice. As an economic model of competition, monopolistic competition is more realistic than perfect competition – many famil iar and commonplace markets have many of the characteristics of this model. Conclusion Our study gives us an opportunity to come to the following conclusion. Monopolistic competition is a  market structure  in which several or many  sellers  each produce similar, but  slightly  differentiated  products. Each producer  can set its  price  and quantity without affecting the marketplace as a whole. Monopolistic competition differs from perfect competition in that production does not take place at the lowest possible cost. Because of this, firms are left with excess production capacity. It is a type of competition within an industry where: * All firms produce similar yet not perfectly substitutable products. All firms are able to enter the industry if the profits are attractive. * All firms are profit maximizers. * All firms have some market power, which means none are price takers. Monopolistic competition has certain features, one of which is that there are large number of sellers producing differentiated products. So, competition among them is very keen. Since number of sellers is large, each seller produces a very smal l part of market supply. So no seller is in a position to control price of product. Every firm is limited in its size. Product differentiation is one of the most important features of monopolistic competition. In perfect competition, products are homogeneous in nature. On the contrary, here, every producer tries to keep his product dissimilar than his rival's product in order to maintain his separate identity. This boosts up the competition in market. So, every firm acquires some monopoly power. The feature of freedom of entry and exit leads to stiff competition in market. Free entry into the market enables new firms to come with close substitutes. Free entry or exit maintains normal profit in the market for a longer span of time. Selling cost is another unique feature of monopolistic competition. In such type of market, due to product differentiation, every firm has to incur some additional expenditure in the form of selling cost. This cost includes sales promotion expenses, advertisement expenses, salaries of marketing staff, etc. And the last feature of monopolistic competition is that a firm is facing downward sloping demand curve i. e. elastic demand curve. It means one can sell more at lower price and vice versa. BIBLIOGRAPHY 1. Ayers R. and Collinge R. , Microeconomics, Pearson, 2003 2. J. Gans, S. King, N. Gregory Mankiw, Principles of Economics, Thomson Learning, 2003 3. Hirschey, M, Managerial Economics Rev. Ed, Dryden, 2000 4. http://www. britannica. com/EBchecked/topic/390037/monopolistic-competition 5. http://www. investopedia. com/terms/m/monopolisticmarket. asp 6. http://kalyan-city. blogspot. com/2010/11/monopolistic-competition-meaning. html Monopolistic Competition INTRODUCTION Pure monopoly and perfect competition are two extreme cases of market structure. In reality, there are markets having large number of producers competing with each other in order to sell their product in the market. Thus, there is monopoly on the one hand and perfect competition, on the other hand. Such a mixture of monopoly and perfect competition is called monopolistic competition. It is a case of imperfect competition. The model of monopolistic competition describes a common  market structure  in which firms have many competitors, but each one sells a slightly different product. Monopolistic competition as a market structure was first identified in the 1930s by American economist  Edward Chamberlin, and English economist  Joan Robinson. Many small businesses operate under conditions of monopolistic competition, including independently owned and operated high-street stores and restaurants. In the case of restaurants, each one offers something different and possesses an element of uniqueness, but all are essentially competing for the same customers. The aim of the given work is the study of monopolistic competition. The paper consists of introduction, body, conclusion and bibliography. In the introduction the aim of the work is defined and the structure of the paper is described. The body gives the definition of monopolistic competition, studies it main characteristics and comments on the main advantages and disadvantages of monopolistic competition. Conclusion sums up the results of the study. Bibliography comprises the list of references used when carrying out the work. MONOPOLISTIC COMPETITION Monopolistic competition  is a type of  imperfect competition  such that competing producers sell products that are  differentiated  from one another as good but not perfect  substitutes, such as from branding, quality, or location. In monopolistic competition, a firm takes the prices charged by its rivals as given and ignores the impact of its own prices on the prices of other firms. In a monopolistically competitive market, firms can behave like  monopolies  in the  short run, including by using market power to generate profit. In the  long run, however, other firms enter the market and the benefits of differentiation decrease with competition; the market becomes more like a  perfectly competitive  one where firms cannot gain economic profit. In practice, however, if consumer rationality/innovativeness is low and heuristics are preferred,  monopolistic competition  can fall into  natural monopoly, even in the complete absence of government intervention. In the presence of coercive government, monopolistic competition will fall into  government-granted monopoly. Unlike perfect competition, the firm maintains spare capacity. Models of monopolistic competition are often used to model industries. Examples of industries with market structures similar to monopolistic competition include  restaurants,  cereal,  clothing,  shoes, and service industries in large cities. The â€Å"founding father† of the theory of monopolistic competition is  Edward Hastings Chamberlin, who wrote a pioneering book on the subject  Ã¢â‚¬Å"Theory of Monopolistic Competition†Ã‚  (1933). Joan Robinson  published a book  Ã¢â‚¬Å"The Economics of Imperfect Competition†Ã‚  with a comparable theme of distinguishing perfect from imperfect competition. Monopolistically competitive markets have the following characteristics: * There are many producers and many consumers in the market, and no business has total control over the market price. * Consumers perceive that there are non-price differences among the competitors' products. There are few  barriers to entry  and exit. * Producers have a degree of control over price. The long-run characteristics of a monopolistically competitive market are almost the same as a perfectly competitive market. Two differences between the two are that monopolistic competition produces heterogeneous products and that monopolistic competition involves a great deal of non-price competition, which is based on subtle product differentiation. A firm making profits in the short run will nonetheless only  break even  in the long run because demand will decrease and average total cost will increase. This means in the long run, a monopolistically competitive firm will make zero  economic profit. This illustrates the amount of influence the firm has over the market; because of brand loyalty, it can raise its prices without losing all of its customers. This means that an individual firm's demand curve is downward sloping, in contrast to perfect competition, which has a  perfectly elastic  demand schedule. Monopolistically competitive markets exhibit the following characteristics: 1. Each firm makes independent decisions about price and output, based on its product, its market, and its  costs of production. . Knowledge is widely spread between participants, but it is unlikely to be perfect. For example, diners can review all the menus available from restaurants in a town, before they make their choice. Once inside the restaurant, they can view the menu again, before ordering. However, they cannot fully appreciate the restaurant or the meal until after they have dined. 3. The   entrepreneur  has a more significant role than in firms that are perfectly competitive because of the increased risks associated with decision making. 4. There is freedom to enter or leave the market, as there are no major  barriers to entry  or exit. 5. A central feature of monopolistic competition is that products are differentiated. There are four main types of differentiation: a. Physical product differentiation, where firms use size, design, colour, shape, performance, and features to make their products different. For example, consumer electronics can easily be physically differentiated. b. Marketing differentiation, where firms try to differentiate their product by distinctive packaging and other promotional techniques. For example, breakfast cereals can easily be differentiated through packaging. c. Human capital differentiation, where the firm creates differences through the skill of its employees, the level of training received, distinctive uniforms, and so on. d. Differentiation through distribution, including distribution via mail order or through internet shopping, such as Amazon. com, which differentiates itself from traditional bookstores by selling online. 6. Firms are  price makers  and are faced with a downward sloping  demand curve. Because each firm makes a unique product, it can charge a higher or lower price than its rivals. The firm can set its own price and does not have to ‘take' it from the industry as a whole, though the industry price may be a guideline, or becomes a constraint. This also means that the demand curve will slope downwards. 7. Firms  operating under monopolistic competition usually  have to engage in advertising. Firms are often in fierce competition with other (local) firms offering a similar product or service, and may need to advertise on a local basis, to let customers know their differences. Common methods of advertising for these firms are through local press and radio, local cinema, posters, leaflets and special promotions. 8. Monopolistically competitive firms are assumed to be  profit maximisers  because firms tend to be small with entrepreneurs actively involved in managing the business. 9. There are usually a large numbers of independent firms competing in the market. Product differentiation Monopolistic competition firms sell products that have real or perceived non-price differences. However, the differences are not so great as to eliminate other goods as substitutes. Technically, the cross price elasticity of demand between goods in such a market is positive. In fact, the XED would be high. Monopolistic competition goods are best described as close but imperfect substitutes. The goods perform the same basic functions but have differences in qualities such as type, style, quality, reputation, appearance, and location that tend to distinguish them from each other. For example, the basic function of motor vehicles is basically the same – to move people and objects from point A to B in reasonable comfort and safety. Yet there are many different types of motor vehicles such as motor scooters, motor cycles, trucks, cars and SUVs and many variations even within these categories. There are many firms in each monopolistic competition product group and many firms on the side lines prepared to enter the market. A product group is a â€Å"collection of similar products†. The fact that there are â€Å"many firms† gives each MC firm the freedom to set prices without engaging in strategic decision making regarding the prices of other firms and each firm's actions have a negligible impact on the market. For example, a firm could cut prices and increase sales without fear that its actions will prompt retaliatory responses from competitors. How many firms will an MC market structure support at market equilibrium? The answer depends on factors such as fixed costs, economies of scale and the degree of product differentiation. For example, the higher the fixed costs, the fewer firms the market will support. Also the greater the degree of product differentiation – the more the firm can separate itself from the pack – the fewer firms there will be at market equilibrium. In the long run there is free entry and exit. There are numerous firms waiting to enter the market each with its own â€Å"unique† product or in pursuit of positive profits and any firm unable to cover its costs can leave the market without incurring liquidation costs. This assumption implies that there are low start up costs, no sunk costs and no exit costs. The cost of entering and exit is very low. Each monopolistic competition firm independently sets the terms of exchange for its product. The firm gives no consideration to what effect its decision may have on competitors. The theory is that any action will have such a negligible effect on the overall market demand that an MC firm can act without fear of prompting heightened competition. In other words each firm feels free to set prices as if it were a monopoly rather than an oligopoly. Monopolistic competition firms have some degree of market power. Market power means that the firm has control over the terms and conditions of exchange. An MC firm can raise it prices without losing all its customers. The firm can also lower prices without triggering a potentially ruinous price war with competitors. The source of an MC firm's market power is not barriers to entry since they are low. Rather, an MC firm has market power because it has relatively few competitors, those competitors do not engage in strategic decision making and the firms sells differentiated product. Market power also means that an MC firm faces a downward sloping demand curve. The demand curve is highly elastic although not â€Å"flat†. There are two sources of inefficiency in the MC market structure. First, at its optimum output the firm charges a price that exceeds marginal costs, the MC firm maximizes profits where MR = MC. Since the MC firm's demand curve is downward sloping this means that the firm will be charging a price that exceeds marginal costs. The monopoly power possessed by an MC firm means that at its profit maximizing level of production there will be a net loss of consumer (and producer) surplus. The second source of inefficiency is the fact that MC firms operate with excess capacity. That is, the MC firm's profit maximizing output is less than the output associated with minimum average cost. Both a PC and MC firm will operate at a point where demand or price equals average cost. For a PC firm this equilibrium condition occurs where the perfectly elastic demand curve equals minimum average cost. A MC firm’s demand curve is not flat but is downward sloping. Thus in the long run the demand curve will be tangent to the long run average cost curve at a point to the left of its minimum. The result is excess capacity. While monopolistically competitive firms are inefficient, it is usually the case that the costs of regulating prices for every product that is sold in monopolistic competition far exceed the benefits of such regulation. The government would have to regulate all firms that sold heterogeneous products—an impossible proposition in a  market economy. A monopolistically competitive firm might be said to be marginally inefficient because the firm produces at an output where average total cost is not a minimum. A monopolistically competitive market might be said to be a marginally inefficient market structure because marginal cost is less than price in the long run. Another concern of critics of monopolistic competition is that it fosters  advertising  and the creation of  brand names. Critics argue that advertising induces customers into spending more on products because of the name associated with them rather than because of rational factors. Defenders of advertising dispute this, arguing that brand names can represent a guarantee of quality and that advertising helps reduce the cost to consumers of weighing the tradeoffs of numerous competing brands. There are unique information and information processing costs associated with selecting a brand in a monopolistically competitive environment. In a monopoly market, the consumer is faced with a single brand, making information gathering relatively inexpensive. In a perfectly competitive industry, the consumer is faced with many brands, but because the brands are virtually identical information gathering is also relatively inexpensive. In a monopolistically competitive market, the consumer must collect and process information on a large number of different brands to be able to select the best of them. In many cases, the cost of gathering information necessary to selecting the best brand can exceed the benefit of consuming the best brand instead of a randomly selected brand. Evidence suggests that consumers use information obtained from advertising not only to assess the single brand advertised, but also to infer the possible existence of brands that the consumer has, heretofore, not observed, as well as to infer consumer satisfaction with brands similar to the advertised brand The advantages of monopolistic competition Monopolistic competition can bring the following advantages: 1. There are no significant  barriers to entry; therefore markets are relatively  contestable. 2. Differentiation creates diversity, choice and utility. For example, a typical high street in any town will have a number of different restaurants from which to choose. 3. The market is more efficient than monopoly but less efficient than perfect competition – less allocatively and less productively efficient. However, they may be dynamically efficient, innovative in terms of new production processes or new products. For example, retailers often constantly have to develop new ways to attract and retain local custom. The disadvantages of monopolistic competition There are several potential disadvantages associated with monopolistic competition, including: 1. Some differentiation does not create utility but generates unnecessary waste, such as excess packaging. Advertising may also be considered wasteful, though most is informative rather than persuasive. 2. As the diagram illustrates, assuming profit maximisation, there is allocative inefficiency in both the long and short run. This is  because price is above marginal cost in both cases. In the long run the firm is less allocatively inefficient, but it is still inefficient. . There is a tendency for excess capacity because firms can never fully exploit their fixed factors because mass production is difficult. This means they are  productively inefficient  in both the long and short run. However, this is may be outweighed by the advantages of diversity and choice. As an economic model of competition, monopolistic competition is more realistic than perfect competition – many famil iar and commonplace markets have many of the characteristics of this model. Conclusion Our study gives us an opportunity to come to the following conclusion. Monopolistic competition is a  market structure  in which several or many  sellers  each produce similar, but  slightly  differentiated  products. Each producer  can set its  price  and quantity without affecting the marketplace as a whole. Monopolistic competition differs from perfect competition in that production does not take place at the lowest possible cost. Because of this, firms are left with excess production capacity. It is a type of competition within an industry where: * All firms produce similar yet not perfectly substitutable products. All firms are able to enter the industry if the profits are attractive. * All firms are profit maximizers. * All firms have some market power, which means none are price takers. Monopolistic competition has certain features, one of which is that there are large number of sellers producing differentiated products. So, competition among them is very keen. Since number of sellers is large, each seller produces a very smal l part of market supply. So no seller is in a position to control price of product. Every firm is limited in its size. Product differentiation is one of the most important features of monopolistic competition. In perfect competition, products are homogeneous in nature. On the contrary, here, every producer tries to keep his product dissimilar than his rival's product in order to maintain his separate identity. This boosts up the competition in market. So, every firm acquires some monopoly power. The feature of freedom of entry and exit leads to stiff competition in market. Free entry into the market enables new firms to come with close substitutes. Free entry or exit maintains normal profit in the market for a longer span of time. Selling cost is another unique feature of monopolistic competition. In such type of market, due to product differentiation, every firm has to incur some additional expenditure in the form of selling cost. This cost includes sales promotion expenses, advertisement expenses, salaries of marketing staff, etc. And the last feature of monopolistic competition is that a firm is facing downward sloping demand curve i. e. elastic demand curve. It means one can sell more at lower price and vice versa. BIBLIOGRAPHY 1. Ayers R. and Collinge R. , Microeconomics, Pearson, 2003 2. J. Gans, S. King, N. Gregory Mankiw, Principles of Economics, Thomson Learning, 2003 3. Hirschey, M, Managerial Economics Rev. Ed, Dryden, 2000 4. http://www. britannica. com/EBchecked/topic/390037/monopolistic-competition 5. http://www. investopedia. com/terms/m/monopolisticmarket. asp 6. http://kalyan-city. blogspot. com/2010/11/monopolistic-competition-meaning. html