Joeseph Mccarthy Essay -- essays research papers

Who was Joseph McCarthy? Joseph R. McCarthy was born in 1908 on a family farm in Wisconsin. He went to a country school and decided he was done with his education at the young age of 14. After that, he explained to his family that he was finished with his studies and wanted to become a farmer like his father. Joe began a profitable business of raising chickens after borrowing a plot of land from his father. Unfortunately, Joe became very ill and his business perished. Joe decided that he would go to work. At age 19 he became the manager of a grocery store in Manawa, a town thirty miles away. Some friends of his convinced him to go back to high school. He was a very smart man and, at the age of 20, managed to finish four years of high school in just one year. In 1930 he enrolled in Marquette University in Milwaukee where he soon succeeded in getting his law degree in 1935. He ended up moving north to Waupaca. There he ran and won the judgeship for the Tenth District of the Wisconsin Curcuit Court. In 1942, Joe enlisted in the Marine Corps even though he was exempt for the draft due to his public position. In his first two years as a lieutenant, he went on many flying missions, broke his leg on a ship during a party and gained a lot of attention from the press along the way. Although later he claimed that his injured leg was caused by ten pounds of sharpnel that he was carrying at the time. There is also a dispute about exactly how many flying mis...

Easyjet: the Future of the Company Under Government Intervention

easyJet: The future of the company under government intervention. Introduction Since the inception of the aviation industry, it has had an amazing expansion with passenger growth still at 14% as recent as 2010 [The Economist, 2011]. For the years the aviation industry has been running, each flight causes a negative externality – a root cause of market failure. To solve this problem of market failure, governments have intervened by introducing a number of regulations over the year, to protect the welfare of society. However, the externality the aviation industry causes cannot be solved so simply. Pollution of CO2 and NOx gasses are the negative externalities caused by each flight, and with daily flights the damage is forever raising. To overcome this market failure in the aviation industry, the European Union Trading Scheme will be introduced from 2012. The government will intervene by placing a cap on the amount of gasses firms are allowed to release through their flights. The theory of the plan suggests that emissions will reduce over time and will push airlines to find alternative resources. What’s The Problem? Market failure is the term that economists use to describe situations where one person incurs costs or enjoys the benefits of another's action [Shiell, A, 2010]. There are four main reasons as to why market failure occurs: Monopoly power, Public goods (see Appendix A), Asymmetric information (see Appendix B) and Externalities. Within the airline industry, the latter comes into play. Market failure caused by externalities occurs when a party that is not involved in the decision making (third party) is affected as a result of that decision. There is a negative spill over effect and this causes markets to become inefficient and therefore fail. Externalities are effects of production or consumption on third parties where the price does not cover the full social cost. They are classed as positive (see Appendix C) or negative (see Appendix D) [Helbling, T, 2010]. It is deemed that the externalities of the airline industry have more adverse effects in the form of pollution, which may lead to a decreased quality of life. This problem has been further emphasized in the wake of the constant concerns of global warming in the media. There is also the issue of other externalities such as noise pollution (see Appendix E), congestion (see Appendix E), and the forgone production in terms of a polluted area (where an airport is located) is likely to affect activities such as tourism. Negative externality caused by market failure occurs due to the market not taking into consideration the complete social cost of an action. As firms are profit maximising entities as described by neo classical economics, they will produce a greater quantity of products compared to what is socially desirable. Taking an example of the aviation industry, the social costs of the airliner carrying out more flights is an increase in pollution and the release of other toxic gasses. Equilibrium Quantity 0 Price QMARKET Demand (private value) Supply (private cost) Social cost QOPTIMUM Optimum Cost of pollution As seen by the diagram, the social optimal output level is where the demand curve intersects with the social cost curve. But this is not the case as the current equilibrium is below the optimum one, as private firms only take into account private costs, creating inefficiency and hence market failure. Graph Adopted from: Harcourt Brace ; Company. 2011). Externalities, Chapter 10. p16. There are a number of policies that can be put into the place in order to combat market failure. They may be private such as negation and compensation, or they may be implemented by government. Through direct or indirect measures such as command and control policies or market based policies such as Pigouvian ta xes. (Appendix F). The government had meticulously assessed the aviation market and concluded that there was a noteworthy negative externality in the industry. This externality caused by air travel became the government’s main concern of the industry. They discussed this at the Kyoto Protocol (see Appendix G) and decided to use command and control policies to regulate the industry in order to tackle the problem. There were three mechanisms that came about from the protocol and the third mechanism was deemed most important to the aviation industry; the European Union Trading Scheme (EU ETS). This scheme aimed to be the primary method to reduce emissions. The idea of the EU ETS revolves around the introduction of the carbon market and the cap-and-trade system. This system was introduced in 2005 and commenced an initial trial period to create the markets infrastructure. During the trial period 12,000 facilities within the EU had been placed with an emissions cap, they were not allowed to pollute more than the cap stated but they were allowed to trade these permits if in surplus. The tradable characteristic of these caps gave firms the opportunity to create abnormal profit by selling them onto other firms that need the extra emission permit. [A. Denny Ellerman and Paul L. Joskow, 2008] The topic of much debate has been as to whether governments should have intervened in the industry. It is proven that the air industry only produces 2% of the total greenhouse gasses in the E. U. Therefore, it is hard to pinpoint why governments have targeted the industry in the EU ETS. The EU have stated the main reason for this was to reduce emissions, but, there is evidence in other industries that shows an increase in taxes will not have an effect on pollution. It is important for easyJet to read Appendix H, as it will show that governments might change their approach if their current choice proves ineffective. This will help easyJet know what might be expected of the industry in the future and may also give the firm a case to argue of the current pollution cap which may be deemed unfair by private companies. The Outlook for easyJet The main carriers in the UK are easyJet, Ryan air, flybe and bmibaby. They offer lower prices due to a number of characteristics such as direct booking, high seating density, uniform aircraft types (less economies of scale on servicing and maintenance), the use of secondary or cheaper airports and no frills such as free food and air miles (see Appendix I for further information). The main selling point of easyJet is its low prices. With the new regulations being implemented by 2012 (see Appendix J), expenditure will be sure to go up but this will not only affect the individual company, but the air industry a whole. These systems set up by the Kyoto protocol will cause drastic changes to the budget airline industry. The various firms will have to rethink their cost structure and their business plans. easyJet will need to assess what changes it will have to make and how this would affect them against their competitors. In order to assess the market place, and how easyJet will be affected, Porter’s five forces model needs to be examined. It consists of substitutes available in an economy, the threat of new entrants, the power of the customer, the power of the supplier and the threat from direct competitors. Porter, 2008) The first main threat arising due to higher costs is that of substitute products. The firm will need to analyse its costs compared to alternative means of transport like trains. Currently, short haul distances are cheaper via train but for a long haul journey it is cheaper to use budget airlines, as seen by the diagram to the left. But, this is about to change with new regu lations to reduce CO2 emissions, increasing expenditure for budget airlines. Also, trains are becoming cheaper as they are electric and switching to a full online booking service. The main limitation with people switching to trains is the time constraint. Although the gap in price for long haul flights will reduce, it is hard to see customers moving to trains for these longer distances and the fact that most trains are not direct further makes it eluding for customers to keep use trains. This raises the question, if prices increase, won’t people move to more luxurious airliners such as British Airways and Virgin? This is not the case as the non budget airlines in the industry are all currently performing inefficiently when compared to the budget airlines, and it is this characteristic that will be their downfall. With costs rising due to increasing oil prices (see Appendix K) and the expenses of implementing new technology, budget airlines will still prosper. They are available to provide such a low price and their competitors like B. A will be forced to drop their price and make up the profits elsewhere, if possible. Non budget airlines are beginning to correct their inefficiency and are diversifying to stay alive in the industry but with the finite amount of oil, the budget airlines currently have an upper hand. Dr Patrick Dixon, 2008] The suppliers, in this case, the manufactures of the planes play an essential role, now more than ever, as it is up to them to figure out ways to make planes more efficient. The various firms have taken different approaches on how to deal with government intervention and environmental issues. Airbus advertised their aircraft, the A380, as being ‘more fuel efficient per passenger kilometre than a small family car’ [Emirates, 2011]. A list of furth er features of how the A380 and Emirates are driving towards fewer emissions is available in Appendix L. asyJet have also developed their technology to combat the problem by creating an unducted fan-driven aircraft that its officials believe is the next best thing in fuel efficiency [Commercial Aviation Report, 2007]. To be able to reduce CO2 emissions in the aviation industry there has to be a full focus on ways to reduce them, such as investment in new technology so planes can use alternative fuels (Appendix M) or become more efficient. This creates a trade-off where other problems caused by the aviation industry, noise pollution and the amount of NOx in the environment, will have less focus on them due to the efforts on the CO2 emissions. The suppliers of aircrafts, such as Boeing and Airbus, need to account for this. With the new regulations in place, the main threat is still easyJet’s direct competitors. The current growth in the airline industry is stagnant and will reduce in the coming years as evidenced by Appendix N and this means the firm will need to think of new, more shrewd strategies in order to survive in the market place and a list of recommendations have been listed below. The fight between competitors will now be fiercer than ever, especially between the big two of the low cost airline industry; Ryan air and easyJet. The budget airlines structure is much the same between these firms and it is important for easyJet to use a competitive strategy. Although with these new regulations, new firms will be reluctant to venture into the industry but if incumbent firms are inefficient, new airliners will come into the industry. Recommendations As the new regulations come into place, drastic changes will be made in the air industry. With pledges to reduce carbon emissions and switch to bio fuels, easyJet will have to adjust and remodel its framework. The question on how to reduce emissions is at the top of any firm’s agenda and what method it will use to tackle this problem will be crucial. The general aim is to reduce emissions via newer planes which are seen as greener and thus have a lower carbon footprint. easyJet’s biggest competitor, Ryan air, struck deals with certain airports to reduce costs for them in order for the plane carrier to bring economic benefits to the area. But this plan has backfired as the various airports are finding the deal not viable and these deals are currently being looked in to by the European Commission. When easyJet looks at a way to keep costs low, they should not follow this system as it is deemed illegal and unethical by many but instead should investigate alternative methods. In order for easyJet to set its self apart, it will need to concentrate on competitive strategies such as cost focus or differentiation focus. [Porter, 1980] With cost focus, a firm aims to achieve the lowest costs in the industry. Does the firm then invest in latest technology? This action will be capital intensive in the short run but will help in the long run. Do they concentrate on the short run and keep shareholders happy by simply purchasing excess pollution permits? With budget airlines, the factor above all others is the price. Passengers are not concerned with the pollution emitted; as long as prices remain low. Consumers are happy to pay the minimal price, and if they weren’t, they would be travelling on a more luxurious plane such as BA or Emirates. easyJet’s current stance is to constantly upgrade to new technology as they believe this will increase efficiencies but it is advisable for them to just buy new permits to keep costs low, and to invest in new planes only when need arises. Advertising plays a huge role in the modern world. We see adverts everywhere and corporations pay millions to place their name and logo on various places. What if the airliner sold advertising space in the actual planes? Costs could be considerably reduced if there were advertising opportunities on the flight whether it is on the reading material or on the screens in front of the passenger. The idea of placing adverts to ease costs comes from Freeconomics developed by Chris Anderson. These savings could be passed onto the passenger through lower ticket prices, or simply kept by the company and used for purposes such as growth. Differentiation focus is where a firm sets itself apart from the competition by doing something different. There is currently a gap in the market for mid airliners, in terms of those that are between the range of the premium and budget airlines. The firm can exploit this and step up its efforts to excel in the market. With this the firm can charge a higher price which will offset the higher costs but in return give the consumers services that add value to the product such as car rentals, free food, and higher luggage weight capacity. Also increased customer service will be beneficial if they decide to bump the prices up. There is alot of talk for the use of alternative fuels such as bio fuels and hydrogen, but the advisors point out that it is still not yet a viable option for the firm. As airlines do not manufacturer their own planes, they are reliant on the manufactures like Airbus and Boeing to incorporate planes with these new technologies and at the same time making it commercially viable. These planes will then be available throughout the industry pushing the market more towards a perfect one with homogenous products. But this again ties in with the long-term short-term plan and if the firm are reluctant to invest, they will keep using existing aviation fuels. If other airliners change, then the price of aviation fuel will reduce as the demand will be lower. From the advisors point of view, it will be more profitable to stay in the current segment due to factors such as the global economy being stagnated. In order to remain competitive and increase market share, costs need to be kept to a minimum and this will be achieved by the combination of buying excess permits and advertising. These new regulations will not only be faced by the firm in question but will be faced through the industry as a whole. The way in which the individual airliners react will show whether or not it will survive in this tightening industry. Appendix Appendix A Monopolies – It is easy to see why there is market failure when there are monopolies in the industry and it is because as they have a negatively sloping demand curve, they will tend to maximise profits by ensuring outputs remain at a level where marginal costs are exceeded by price. Public Goods – With public goods, market failure arises as the firm usually has no-rivals and it is not excludable meaning any losses are reimbursed from public tax money. Appendix B Market failure due to asymmetric information occurs when one party of a transaction has more information than the other group. One market where this occurs is in the used car market where there is the lemons problem. Adverse selection happens before the transaction as only high-risk consumers will want to buy insurance. Moral hazard occurs after the transaction as once you have insurance, you are likely to act in a more risky way. An example of this is that airliners are likely to operate in risky conditions such as those of the Icelandic ash cloud as they know if the plane gets damaged, the insurance company pays. Quantity 0 Price QOPTIMUM Demand (private value) Supply (private cost) Social cost QMARKET Value of spillover Equilibrium Optimum Appendix C Positive externalities occur when those individuals who are not directly in the market for the good in question gain benefits. Positive externalities may also have an adverse affect on markets and thus could lead to market failure as a smaller quantity than that which is socially desirable is produced. As seen in the diagram, the intersection of the demand curve and the social value curve determines the optimal output level. The efficient output is below the market equilibrium quantity. The aviation industry may bring about positive externalities such as employment opportunities and R;D; this has positive effects pasts the producer as the knowledge gained in this process may lead to other discoveries and developments. Appendix D Negative externalities transpire when there is a cost to an individual who is not directly involved in the production or consumption of a particular good e. . cigarettes. Equilibrium Quantity 0 Price QMARKET Demand (private value) Supply (private cost) Social cost Cost of pollution If there are negative externalities, the cost of production to society is larger than that to the producer. The supply curve will have to be shifted upwards in order to accommodate for the full cost of production to the society. Appendix E Noise pollution has been a growing conce rn ever since the aviation industry was set to grow at an exponential rate. It is the local residents that are in the vicinity of the airport who are mainly affected by this. There has been research to suggest that the noise caused by aircrafts is damaging to humans, there is a full list published by the World Health Organisation stating the effects of noise in Appendix G. As well as being a general annoyance noise damages health, it detracts significantly from the quality of life, it stops local residents enjoying their gardens or simply enjoying peace and quiet, it damages wildlife, it damages the learning ability of schoolchildren and it costs a great deal of money through the costs of noise mitigation and noise abatement. John Whitelegg, 2000]. The World Health Organisation(2010) states that noise has a number of adverse effects which include, hearing impairment, cardiovascular effects and pschedocrine effects. To add more to local resident woes, airports generate an amazing amount of congestion on the roads. It is a hotspot for taxi’s, buses and trains. All of these add to the general emissions we as a human race pollute. Appendix F To combat externalities there may be a number of private solutions available, one in particular is in the form of negotiation and compensation. This would mean the people producing the negative externality reimburse the third parties, other producing positive externalities are compensated by the third parties. Others may be social sanctions and moral codes. Private solutions do not always work and in the case of this occurrence, public solutions need to be taken into account to solve the problem in the form of direct or indirect government’s participation in markets. Figure Adopted from: Office of Fair Trading. (2009). Government In Markets: why competition matters. 14. The two main reasons as to why governments directly intervene in markets are to provide public goods and services that free markets would be unlikely to provide at an appropriate level and to benefit from the commercial value of public sector assets (Office of Fair Trading, 2009). Command and control policies are the regulations set by government and include forbidding certain behaviours like disallowing smoking on the plane, and it could also make cer tain behaviour necessary such as investing in low emission technology. This method of intervention is usually used in the aviation industry. Governments intervene indirectly where there are private markets that produce side-effects that have an impact on social welfare. They include certain acts like the use of tax or subsidies to combat market failure. Price Effects of a Tax Quantity Private cost with tax Private cost Private value Social Value P2 P3 Q2 Q1 Q3 Q1 = Market Value Q2 ; P2 = Full Social Cost In the aviation industry, certain market based policies are in the pipeline and may come to affect in the form of Pigouvian taxes such as fuel tax. As can be seen, the fuel tax could increase the price of an airline trip to P3 which might make consumers feel a lesser need to travel and demand would move to Q3. With this tax on fuel and the current increase in fuel prices due to the unrest in the Middle East, people would find it cheaper to use others means of transport such as trains and ferries and could this be the demise of budget airlines. Appendix G The Kyoto Protocol was a meeting within the United Nations Framework Convention on Climate Change in Kyoto, Japan in 1997. It was in this meeting that 37 industrialized countries agreed to band together to reduce global emissions. From this meeting three mechanisms came about on how to reduce emissions, the first being the clean development mechanism in which members of the original 37 countries to invest in developing countries, for example installing solar panels and energy efficient boilers. The second mechanism to reduce emissions is the joint implementation mechanism; this is when the original members invest in each other’s country where it is easier cut costs [UNFCCC. int, 2011]. Appendix H In regards to the environment, government intervention could have been avoided as no one owns the property right to things such as air. Public goods are free goods available to everyone and include clean air, clean water, and biodiversity; these are mainly non excludable and non rival goods. These public goods have no property rights and thus the business and household sectors do not put enough emphasis on these goods and they often face a collective action problem. So if no one owns these, why should an airliner have to pay for pollution costs as they cannot be technically accountable to anyone? As there is no single owner of the air that is being polluted airlines could argue that it is not their responsibility and so why should they be forced the pay the full social cost. The problem of corporate social responsibility then arises; this would argue the blame for the pollution lies with the airlines as they provide a chunk of air pollution. After undertaking a wide-ranging consultation of stakeholders and the public and analysing several types of market-based solutions, the Commission concluded that bringing aviation into the EU Emissions Trading System (EU ETS) would be the most cost-efficient and environmentally effective option for controlling aviation emissions. [European Commission Climate Action, 2011] Any form of taxation will not work as these measures have failed to work in the reduction of emissions. One example is the car industry where despite the heavy taxes; the number of car owners across Europe continues to increase. Taxation on air transport will not have any effect on the emitence of greenhouse effects but will instead have an adverse effect on the growth within the European area. Also governments putting emphasis on the aviation industry which produces less than 2% of EU emissions means that the main reason for intervention is not an environmental factor. It is unclear as to the reason why air transport is a priority in the ETS instead of larger green house gas producing industry. The impact is so small that if household heating had to improve by 15%, it would cancel out the effect of the aviation industry. Ethically, government intervention was the right way forward as leaving it to the private companies would not have proved effective as their aim is to keep private costs to a minimum. Market failure is bad for your health but social injustice is worse. [Oxford Journals. 32 (1), p12-13]. It is easyJet’s duty to abide by any government law. A number of recommendations have been put below as to how the company can best prosper with these new conventions. Appendix I Low Cost Characteristics – Low cost airliners offer a pricing strategy on a first come first serve basis and this means at the passengers who book earlier pay less. Smith, (No Date) Passenger service costs are lower because there is no free food. Sales and reservation and commission cost lower because virtually everything is done online. The number of staff on board an aircraft is reduced as they are not needed due to not serving food. Smith, (No Date) Appendix J Currently the aviation industry is not included in any of the 12,000 facilities that are included in the trading scheme. However, from the start of 2012 there will be a cap on the CO2 emissions from all international flights that arrive or depart from any EU airport. Airlines will receive the same permits and caps that the previous 12,000 facilities received. These firms will then enter the carbon market where they can buy or sell permits, whichever maybe the case. If the company finds itself with an excess amount of permits they can choose to put them into the market or to simply keep them to cover future emissions. If the airline is in need of more permits they will need to enter the market and purchase the number of permits they require. The firm should also consider investing in alternative technology that will reduce their emissions efficiently. They can also earn emission credits by taking part in the clean development mechanism. [European Commission Climate Action, 2011] The aviation industry has begun to explore new fuels e. g. Bio-fuels. It is out of necessity that new fuels are being researched as these are considers more greener compared to oil. There is currently research into using algae as a bio fuel and into other techniques to make aircrafts more environmentally friendly. Some improvements have already been made through the industry – reduced fuel consumption and passenger-friendly cabins [Commercial Aviation Report, 2007]. Appendix K Oil has always been a finite resource; it was always known it will run out at one time or another. As we approach this time the cost of oil and fuel for the aviation industry will increase as oil becomes rarer. In this time it will be budget airlines that prevail and will continue to operate irrelevant of oil prices. It is their fundamental principle that will pull them through the rising oil prices, to deliver the basic minimum a consumer needs and to charge extra for add-ons. Budget airlines have a way of finding ways to cut costs in non essential places, they will continue this practise and will eventually gain the competitive advantage over others in the industry. For those companies who exceed their permit limit will have to pay a fine, to give up or purchase extra permits to cover their emissions. [John Walker and Amrit MacIntyre, 2008] Appendix L * The Emirates A380 burns up to 20% less fuel per seat than other large aircraft * This is the most significant advancement in reducing fuel burn and emissions in four decades. Low fuel burn means lower C02 emissions. The A380 produces less than 75g of C02 per passenger kilometre, almost half of the European target for cars manufactured in 2008. * Emirates A380s will progressively feature digital inflight magazines, entertainment guides and shopping catalogues, saving 2kg per seat or almost one tonne per aircraft. * Emirates A380s, which offers more space per passenger in all classes, will also meet ICAOâ₠¬â„¢s gaseous emissions standards by a substantial margin. * We will comfortably meet current Stage Three and proposed Stage Four noise level standards. Our new Emirates A380 maintenance facilities in Dubai are state of the art, efficient buildings. * A380s feature lightweight materials that account for 25% of its structure. * Our emissions components – such as NOx – will be well under the regulated ‘cap four’ rule * Emirates is working with Airbus to further reduce weight of our future A380s. * Larger aircraft mean less take-off and landings (in passenger terms, some Emirates A380 versions would be the equivalent of flying up to seven smaller aircraft types). Emirates average fleet age is less than half that of many European airlines, meaning newer technology and efficiency breakthroughs characterise our aircraft. Appendix M The aviation industry has begun to explore new fuels e. g. Bio-fuels. It is out of necessity that new fuels are being researched as oil is a limited resource. There is currently research into using algae as a bio fuel and into other techniques to make aircrafts more environmentally friendly. Some improvements have already been made through the industry – reduced fuel consumption and passenger-friendly cabins [Commercial Aviation Report, 2007]. Appendix N Graph Adopted from: The Economist. (2011). Budget airlines: In the Cheap Seats. With traffic expected to slow, low-cost air carriers are getting fancy, p1. The graphical illustration shows the number of passengers carried by budget airlines are growing but its set to decline from 14% in 2009 – 2010 to 6% by 2013 [The Economist, 2011]. With fewer consumers entering the market, companies have to think of other ways to make money from existing customers. easyJet have approached this by increasing frequency on their routes and using more primary airports. Customer satisfaction will now become an even greater part of the aviation industry with features such as priority boarding and loyalty schemes, also the trivia of losing luggage should become a thing of past. â€Å"The low-cost carrier market used to be about fast growth and uncomplicated strategies,† says Keith McMullan, of Aviation Economics, a consultancy. â€Å"Now it is about slow growth and complicated strategies. † [The Economist, 2011] Reference List 1. [Dr Dixon, P. (2008) , Future of budget airlines, {Online Video] Available: http://www. youtube. com/watch? v=BVTxPbr_UAc. Last accesses 18/03/2011. 2. Economist. 2011). Budget airlines: In the cheap seats. Available: http://www. economist. com/node/18010533? story_id=18010533. Last accessed 03/03. 2011. 3. Elbling, T. (2010). What are Externalities?. Finance and Development. 47 (4), p2. 4. Ellerman, D and Joskow, P. (2008). The European Union’s Trading Scheme in Perspective, p1-3. 5. Emirates. (2011). Em irates greener, cleaner, quieter A380s take to the skies. Available: http://www. theemiratesgroup. com/english/our-vision-values/emirates-a380. aspx. Last accessed 10/03/2011. 6. European Commission Climate Action. (2011). Reducing emissions from the aviation sector. p1. 7. Graph Adopted from: Harcourt Brace ; Company. (2011). Externalities, Chapter 10. Available: http://www. westga. edu/~dboldt/ECON2105/CHAP10. PPT p16. 8. Hamilton, S. (2007). Airline industry grapples with increasing environmental concern. Available: http://www. leeham. net/filelib/091007CAR. pdf. Last accessed 20/03/2011. 9. Hamilton, S. (2007). Airline industry grapples with increasing environmental concern. Available: http://www. leeham. net/filelib/091007CAR. pdf. Last accessed 20/03/2011. 10. Office of Fair Trading . (2009). Government In Markets : why competition

Kingship in Macbeth Essay

In his first appearance, King Duncan performs two of the basic duties of a king: punishing the bad and rewarding the good. Upon learning of the treachery of Cawdor and the heroism of Macbeth, he says, â€Å"No more that thane of Cawdor shall deceive / Our bosom interest: go pronounce his present [immediate] death, / And with his former title greet Macbeth† (1.2.63-65). The phrase â€Å"bosom interest† means â€Å"vital interests,† but â€Å"bosom† suggests that a relationship of love should exist between a king and his subject. Soon after the witches hail him as â€Å"Thane of Glamis,† â€Å"Thane of Cawdor,† â€Å"and king hereafter!† (1.3.50), Macbeth receives the news that he has been named Thane of Cawdor. This news throws him into a reverie, in which he says to himself, â€Å"Two truths are told, / As happy prologues to the swelling act / Of the imperial theme† (1.3.127-129). Macbeth’s metaphor is dramatic, or musical; he seems to be imagining himself as making a grand entrance as king, or maybe as an emperor, a king of kings. Just as the King is commenting on the treachery of the former Thane of Cawdor, in comes the new Thane of Cawdor, Macbeth. The King greets Macbeth as â€Å"worthiest cousin!† (1.4.14) and says in several different ways that he can’t thank him enough. Macbeth answers with heroic modesty that â€Å"The service and the loyalty I owe, / In doing it, pays itself† (1.4.22-23). That is, it’s payment enough to know that he did the right thing as a loyal servant of the King. Then Macbeth adds, Your highness’ part Is to receive our duties; and our duties Are to your throne and state [stateliness, dignity] children and servants, Which do but what they should, by doing every thing Safe toward your love and honour. (1.4.23-27) â€Å"Safe toward† means â€Å"to secure† or â€Å"to safeguard†; the idea is that it is every subject’s duty to do everything he can for the king, both to keep the king safe and to earn the king’s love and respect. Macbeth’s speech pictures King Duncan as the loving father of a happy family, but Macbeth is already thinking about killing him. When Lady Macbeth receives her husband’s letter about the witches’ prophecies, she is only worried that her husband is â€Å"too full o’ the milk of human kindness / To catch the nearest way† (1.5.17-18). But she’s sure she has no such problem, and she’s eager for the chance to make him see things her way. Holding the letter, and speaking to Macbeth (even though he hasn’t arrived yet) she says, â€Å"Hie thee hither, / That I may pour my spirits in thine ear; / And chastise with the valour of my tongue / All that impedes thee from the golden round,† (1.5.25-28). We might say that she’s going to nag him, but she believes that she is going to enable him to reach his potential. She will â€Å"chastise† (make him ashamed of) everything in him that prevents him from being evil enough to be king. Shortly, Macbeth appears and tells her that King Duncan will be staying with them that night. Lady Macbeth declares that King Duncan will never leave their castle alive and advises Macbeth to be a good hypocrite. He must give the king a warm welcome, the better to kill him that night. Apparently Macbeth shows a little reluctance, because she says, He that’s coming Must be provided for: and you shall put This night’s great business into my dispatch; Which shall to all our nights and days to come Give solely sovereign sway and masterdom (1.5.66-70) â€Å"Sovereign† means not only â€Å"kingly† but also â€Å"absolute.† Lady Macbeth is telling her husband that if he will only do as she tells him, they will be king and queen, with power over all. To her, the essence of kingship is ruthless power. When King Duncan is greeted by Lady Macbeth, he makes a little joke about the social difficulties of being king. He says to her: See, see, our honour’d hostess! The love that follows us sometime is our trouble, Which still we thank as love. Herein I teach you How you shall bid God ‘ield us for your pains, And thank us for your trouble. (1.6.10-14) Duncan’s whole speech is based on our ancient custom of a guest saying something like â€Å"I don’t want to trouble you,† and the host replying with some version of â€Å"It’s my pleasure.† By saying that his people’s love is sometimes his â€Å"trouble,† King Duncan is saying that his loving people go to a great deal of trouble for him, and he’s troubled by the fact that they take all that trouble. Nevertheless, when people take trouble for him, he knows that they do it because they love their king, and so he thanks them for their love. Next, referring to himself royally as â€Å"us,† the King jokingly tells Lady Macbeth that he’s saying all of this so that — instead of him thanking her for taking trouble — she will thank God and him for giving her trouble. While King Duncan is at dinner Macbeth almost talks himself out of the murder. He reflects that King Duncan is a good king, not arrogant or selfish. Macbeth says to himself that the king â€Å"Hath borne his faculties [royal powers] so meek, hath been / So clear [uncorrupted] in his great office, that his virtues / Will plead like angels, trumpet-tongued, against / The deep damnation of his taking-off† (1.7.17-20). The day after the murder of King Duncan, Ross speaks with an old man. The Old Man’s memories go back seventy years, but nothing he can remember compares to what has happened during this night: â€Å"I have seen / Hours dreadful and things strange; but this sore night / Hath trifled former knowings† (2.4.2-4). Ross replies â€Å"Ah, good father, / Thou seest, the heavens, as troubled with man’s act, / Threaten his bloody stage† (2.4.4-6). The â€Å"heavens† are the heavens above, where God lives, and they are also the upper regions of Shakespeare’s Globe theater. Ross is saying that the heavens frown angrily (â€Å"threaten†) as they look down upon man playing his part on the stage of life, which has been made bloody by the murder of King Duncan. King Duncan should have been honored and loved, so his murder was unnatural, and Ross and the Old Man go on to tell each other of all the unnatural things that have been happening lately. They do not know that Macbeth is the murderer, but as they speak we can see that the unnatural events reflect the contrast between King Duncan and Macbeth. The Old Man says that â€Å"On Tuesday last, / A falcon, towering in her pride of place, / Was by a mousing owl hawk’d at and kill’d† (2.4.11-13). The falcon’s â€Å"pride of place† is the highest point of its flight. And the owl, which usually catches mice on the ground, went up instead of down, and killed a falcon. Also, a falcon is a day creature, and a royal companion, while the owl is an untamable bird of night and death. If things in nature stands for things in human life, King Duncan was the falcon, and Macbeth the owl. Even worse, King Duncan’s horses, â€Å"Beauteous and swift, the minions of their race, / Turn’d wild in nature, broke their stalls, flung out, / Contending ‘gainst obedience, as they would make / War with mankind.† (2.4.15-18) A â€Å"minion† is someone’s favorite. Macbeth and Lady Macbeth were King Duncan’s minions. The King showered them with honors and gifts, but they turned wild and made war on their master. Thus the point is made that Macbeth’s murder of his king is a crime against nature. Just before he sends the murderers to kill Banquo, Macbeth has a soliloquy in which he states his fear of Banquo. He says that Banquo has â€Å"royalty of nature† (3.1.49), and courage, and wisdom. Macbeth also says, â€Å"under him, / My Genius is rebuked† (3.1.54-55). A man’s â€Å"Genius† is his guardian spirit, but Macbeth isn’t being particularly mystic here. He feels that Banquo is naturally superior to him, and just being near Banquo makes Macbeth feel ashamed of himself. For example, he recalls, Banquo defied the witches and challenged them to speak to him. (In contrast, we should remember, the witches’ prophecy put Macbeth into a kind of trance, a reverie of ambition and murder.) In short, Macbeth feels that Banquo is more fit to be king than he is, and for that, he’s going to murder him. After he becomes king, Macbeth has a moment when he tries to be the kind of king that King Duncan was, humble and mild. At his feast Macbeth welcomes everyone, saying, â€Å"You know your own degrees; sit down. At first / And last the hearty welcome† (3.4.1-2). The â€Å"degrees† of the guests are their social ranks. Normally, each guest would receive an individual greeting and then be escorted to his seat, with the highest ranking person sitting closest to the king, and the next highest the next closest, etc. Macbeth tells them that they know where they should sit, and welcomes everyone at once. He will â€Å"play the humble host† (3.4.4), and sit among them, showing how friendly and down-to-earth he is, even though he is now the king. However, he can’t keep up his act because un uninvited guest shows up — Banquo’s bloody ghost. Lennox and another Scottish lord have a conversation in which both of them refer to Macbeth as a â€Å"tyrant.† It’s clear from their conversation that life under a tyrant is a life of fear and lies. Because Macbeth has many spies, they need to be careful what they say and to whom they say it. As the scene opens, they have just gotten to the point at which they are sure that they are on the same side and have many of the same thoughts. As Lennox says, â€Å"My former speeches have but hit your thoughts, / Which can interpret further† (3.6.1-2). Perhaps the other Lord nods agreement, because Lennox now launches on a string of sarcasms about Macbeth. Lennox says, â€Å"The gracious Duncan / Was pitied of Macbeth: marry, he was dead† (3.6.4). This bitter joke describes both Macbeth’s facade — that he was sorry for King Duncan — and the truth about Macbeth, which was that he was sorry for King Duncan only after he killed him. Then Lennox proceeds to ridicule Macbeth’s version of everything that has happened to this point. Banquo died because he took a walk after dark, and Fleance must have killed him, because Fleance ran away. And speaking of that, wasn’t it terrible for Malcolm and Donalbain to kill their father? And of course Macbeth felt terrible about Duncan’s murder, which is why he killed the only two possible witnesses, Duncan’s grooms. If Malcolm, Donalbain, and Fleance were in Macbeth’s power, he’d certainly teach them a lesson or two about killing a father! After a bit, Lennox drops the sarcasm and turns to the subject of Macduff. He has heard that Macduff has gotten on Macbeth’s bad side because Macduff used some â€Å"broad words† (3.6.21) about Macbeth, and because he failed to show up for Macbeth’s banquet. Does the other Lord know, Lennox asks, where Macduff might be? The other Lord does know. Macduff is on his way to the English court, where Malcolm has been respectfully received by King Edward the Confessor. Macduff has gone to plead with King Edward to help Malcolm by sending to Scotland the forces of Northumberland and Siward, two English nobles famous as warriors. If Macduff is successful, Scotland will be freed of Macbeth’s tyranny. Then â€Å"we may again / Give to our tables meat, sleep to our nights, / Free from our feasts and banquets bloody knives, / Do faithful homage and receive free honours† (3.6.33-36). Under Macbeth’s tyranny, fear of his bloody knife darkens every moment of a person’s life. In contrast to this reign of terror, a true king is given â€Å"faithful homage† and he awards â€Å"Free honours.† Free honours are given by a king in recognition of service; they are â€Å"free† in the sense that person honored does n’t have to be a tyrant’s yes-man in order to receive them. When Macbeth seeks out the witches, he curses them, calls them hags, and demands that they answer his questions. They give him their prophecies, the last of which is that Banquo will be the progenitor of a long line of kings, stretching to James of Scotland and England. Macbeth is stunned, and the first witch says that they will cheer him up with music and a dance, so â€Å"That this great king may kindly say, / Our duties did his welcome pay† (4.1.131-132). The witch is being sarcastic. Macbeth is a tyrant, even to witches, and gave them no welcome; they repaid his angry demand for answers with deceptive and frightening â€Å"duties† — their prophecies. As the witches are the opposite of dutiful subjects, Macbeth is the opposite of a great and kindly king In England, Macduff pleads with Malcolm to lead an army against Macbeth. Eventually, Malcolm says that he will, but first he tests Macduff’s intentions. He wants to find out if Macduff wants what is best for Scotland, or just wants to defeat Macbeth. Malcolm begins his test by saying that Scotland will suffer even more after Macbeth is crushed. The reason: Malcolm will be more evil than Macbeth. First, Malcolm says that he will be so lustful that â€Å"your wives, your daughters, / Your matrons and your maids, could not fill up / The cistern of my lust† (4.3.61-63). Macduff’s response is more than a little wimpy. He says that uncontrolled lust is bad, but he’s sure that Scotland can provide Malcolm with enough willing women to satisfy him. But Malcolm goes on to declare that he’s also so avaricious that â€Å"were I king, / I should cut off the nobles for their lands, / Desire his jewels and this other’s house: / And my more-having would be as a sauce / To make me hunger more† (4.3.78-82). Macduff admits that avarice in a king is even worse than lust, but he’s sure that Scotland has abundance enough to satisfy Malcolm. Such lust and avarice would be bearable, balanced against good qualities. â€Å"But I have none† (4.3.91), Malcolm answers. He goes on to assert that he has not a single virtue that a king needs. Not only that, but he is positively evil, so evil that â€Å"had I power, I should / Pour the sweet milk of concord into hell, / Uproar the universal peace, confound / All unity on earth† (4.3.97-100). After describing himself as the worst possible person on the face of the earth, Malcolm then asks Macduff if someone like him is fit to govern. â€Å"Fit to govern! / No, not to live† (4.3.102-103), Macduff bursts out. Then he laments the fate of Scotland and is about to storm off, but Malcolm calls him back and unsays everything he’s just said about himself. He is, he now says, chaste, generous, and trustworthy. In short, he wil l be a true king, not the tyrant that Macbeth is. After the tyranny of Macbeth is contrasted with the goodness of Macduff and Malcolm, we are again reminded of what a good king should be. A doctor enters and tells Macduff and Malcolm that a crowd of sick people are waiting to be cured by the English king. Their sickness can’t be cured by doctors, but only by the king: â€Å"at his touch– / Such sanctity hath heaven given his hand– / They presently amend† (4.3.143-145). The doctor leaves, and Macduff asks what disease he was talking about. Malcolm explains, â€Å"‘Tis call’d the evil† (4.3.146). (The disease is scrofula, which causes ugly swellings of glands in the neck. It was called â€Å"the king’s evil† because of the popular idea that a holy king could cure it by touching the diseased person.) Malcolm goes on to speak of what a miracle-worker the English king is. He brings God’s healing power to his people, and it’s a wonder, because â€Å"How he solicits heaven, / Himself best knows† (4.3.150). In addition to being able to heal the sick, the English king â€Å"hath a heavenly gift of prophecy, / And sundry blessings hang about his throne† (4.3.157-158). Malcolm doesn’t mention Macbeth, but the only apparent reason for this description of the English king is to provide a picture of heavenly good to contrast with Macbeth’s hellish evil. Shortly after, news comes of Macbeth’s most recent act of tyranny — the slaughter of Macduff’s innocent wife and children. When she walks in her sleep, Lady Macbeth relives the moment just after the murder of King Duncan, when her husband could do nothing except stare at his bloody hands holding the bloody daggers. In her sleep she says to him, â€Å"What need we fear who knows it, when none can call our power to account?†(5.1.37-39). Her point is that Macbeth is king (or about to be) and therefore it doesn’t matter who knows that he murdered King Duncan. She thinks (or thought) that kingly power would solve all problems, but it doesn’t save her from madness. When he is brought news of the approach of the English army, Macbeth knows that he could lose the battle, and he tries to find a way to accept defeat. In a famous passage, he tells himself that his life is not worth living: I have lived long enough: my way of life Is fall’n into the sear, the yellow leaf; And that which should accompany old age, As honour, love, obedience, troops of friends, I must not look to have; but, in their stead, Curses, not loud but deep, mouth-honour, breath, Which the poor heart would fain deny, and dare not. (5.3.22-28) We can see that Macbeth now understands the consequences of being a tyrant. He rules only by fear, which means that all those he rules hate him. Standing before Dunsinane, Siward, the leader of the English troops, comments to Malcolm: â€Å"We learn no other but the confident tyrant / Keeps still in Dunsinane, and will endure / Our setting down before ‘t†. ) He means that Macbeth seems to be so confident of the strength of his castle that he’s willing to let his enemies lay siege to it, rather than going on the attack. Malcolm replies that Macbeth really doesn’t have a choice: â€Å"Both more and less have given him the revolt, / And none serve with him but constrained things / Whose hearts are absent too† . By â€Å"more and less† Malcolm means both the nobles and the common soldiers; Macbeth the tyrant controls only those who are within reach of his sword. In the final scene, Macduff, carrying Macbeth’s head on a pole, hails Malcolm as king of Scotland and says, â€Å"Behold, where stands / The usurper’s cursed head: the time is free† . The â€Å"time is free† because they are all now free of Macbeth’s reign of terror over Scotland. Macduff then leads the men in a shout of victory and loyalty. He says, â€Å"I see thee compass’d with thy kingdom’s pearl, / That speak my salutation in their minds; / Whose voices I desire aloud with mine: / Hail, King of Scotland!† . Macduff knows that these thanes already think of Malcolm as their king, and now he asks them to join him in shouting out loud, â€Å"Hail, King of Scotland!† And so they do, honoring Malcolm, above whose head looms the severed head of Macbeth.

Michael Porter’s Five Forces for Target Essay Example

Michael Porter’s Five Forces for Target Essay Example Michael Porter’s Five Forces for Target Paper Michael Porter’s Five Forces for Target Paper According to the North American Industrial Code System (NAICS), Target Stores is under the classification of Discount Department Stores (NAICS Code: 452112). I am going to analyze the company by applying Michael Porter’s Five Forces Model. Internal rivalry (competitors) The competitive rivalry is very high and intense. In United States, there are several discount department stores which sell the same or very similar products. Target competes directly against them. Because Target and these companies have similar portions of market share, each company wants to become the market leader, and as a result, rivalry intensifies. The major competitors are Wal-Mart, Costco and Kmart. Supplier power The bargaining power of suppliers is quite strong. Although Target captures a certain percentage of suppliers’ business, the existence of numerous discount department stores and specialty stores in the market lets suppliers have negotiating power to control the prices. Besides, the rapid increase in online stores offers an additional channel for suppliers to sell their products directly to customers and thus gives extra bargaining power to suppliers. Buyer power Buyers have a moderate level of bargaining power. Due to the high amount of discount retail stores in the market, customers have high mobility and low loyalty. Many of these stores sell the same or similar products. Buyers switch from one store to another to purchase products in order to reduce costs. On the other hand, shoppers are not concentrated and powerful enough to take total control of the price. Therefore, Target still has some power to maintain the price of its products. Potential entrants It is easy for new competitors to enter the market due to the low barriers to entry. The cost of entry is low and the industry is not protected by regulations or patents. New entrants can open stores when they have enough capital to do so. Besides, since the products provided by discount retail industry are mainly commodities, companies are more willing to enter the industry as they can easily liquidate the inventory if the venture fails. In addition, due to the little brand loyalty of customers, new competitors may occupy market share without many difficulties. Substitutes and complements The threat of substitute is very high. Target faces a huge amount of substitutes because there are many discount department stores. The number of competitors is still increasing quickly as the barriers to entry are very low. Moreover, the other sales channels, such as mail order, telemarketing and door-to-door sales, increase the threat of substitute. Furthermore, the rapid growth in online stores makes Target face much more threat because online shops may offer lower prices or a more convenient way to customers.

UMES, University of Maryland Eastern Shore Admissions

UMES, University of Maryland Eastern Shore Admissions With a 38% acceptance rate, the University of Maryland Eastern Shore may appear fairly selective, but the reality is that most students with average grades and standardized test scores have a very good chance of being admitted. The university looks for a 930 or higher on the SAT, 18 or higher on the ACT, and a high school GPA of 2.5 or better. UMES will also want to see adequate course work in course subjects: four years of English and math; three years of social science/history, and two years of a foreign language and a lab-based science. Will You Get In? Calculate Your Chances of Getting In  with this free tool from Cappex Admissions Data (2016): University of Maryland Eastern Shore Acceptance Rate: 38%Test Scores 25th / 75th PercentileSAT Critical Reading: 400 / 480SAT Math: 390 / 470SAT Writing: - / -What these SAT numbers meanACT Composite: 17  / 20ACT English: 16  / 21ACT Math: 15  / 120ACT Writing: - / -What these ACT numbers mean University of Maryland Eastern Shore Description: UMES, the University of Maryland Eastern Shore is a historically black university and member of the University System of Maryland. The university occupies a nearly 800-acre campus in Princess Anne, Maryland, an easy drive to both the Chesapeake Bay and Atlantic Ocean. Founded in 1886, the university has expanded significantly in recent decades. Academic programs in business, hotel management, criminal justice, sociology, and physical therapy are particularly popular among undergraduates. On the athletic front, the UMES Hawks  compete in the NCAA Division I  Mid-Eastern Athletic Conference. The school fields seven mens and eight womens Division I teams. Enrollment (2016): Total Enrollment: 3,904  (3,277 undergraduates)Gender Breakdown: 45% Male / 55% Female89% Full-time Costs (2016- 17): Tuition and Fees: $7,804  (in-state); $17,188 (out-of-state)Books: $1,500 (why so much?)Room and Board: $9,388Other Expenses: $3,500Total Cost: $22,192 (in-state); $31,576 (out-of-state) University of Maryland Eastern Shore Financial Aid (2015- 16): Percentage of New Students Receiving Aid: 92%Percentage of New Students Receiving Types of AidGrants: 72%Loans: 76%Average Amount of AidGrants: $7,502Loans: $6,525 Academic Programs: Most Popular Majors:  Biology, Business Administration, Criminal Justice, English, Family and Consumer Sciences, Hotel Management, Rehabilitation Services, Sociology What major is right for you?  Sign up to take the free My Careers and Majors Quiz at Cappex. Transfer, Graduation and Retention Rates: First Year Student Retention (full-time students): 58%Transfer Out Rate: 25%4-Year Graduation Rate: 15%6-Year Graduation Rate: 36% Intercollegiate Athletic Programs: Mens Sports:  Basketball, Baseball, Golf, Tennis, Track and Field, Cross CountryWomens Sports:  Basketball, Bowling, Softball, Cross Country, Track and Field, Tennis, Volleyball Data Source: National Center for Educational Statistics If You Like UMES, You May Also Like These Schools: Towson University: Profile | GPA-SAT-ACT GraphHoward University: Profile | GPA-SAT-ACT GraphVirginia State University: Profile | GPA-SAT-ACT GraphNorfolk State University: Profile  Virginia Union University: Profile  Temple University: Profile | GPA-SAT-ACT GraphDrexel University: Profile | GPA-SAT-ACT GraphClark Atlanta University: Profile | GPA-SAT-ACT GraphSalisbury University: Profile | GPA-SAT-ACT GraphBowie State University: Profile | GPA-SAT-ACT GraphFrostburg State University: Profile   University of Maryland Eastern Shore Mission Statement: complete mission statement can be found at  https://www.umes.edu/About/Pages/Mission/ The University of Maryland Eastern Shore (UMES), the state’s historically black 1890 land-grant institution, has its purpose and uniqueness grounded in distinctive learning, discovery and engagement opportunities in the arts and sciences, education, technology, engineering, agriculture, business and health professions.  Ã‚  UMES is a student-centered, doctoral research degree-granting university known for its nationally accredited undergraduate and graduate programs, applied research, and highly valued graduates.  Ã‚  UMES provides individuals, including first generation college students, access to a holistic learning environment that fosters multicultural diversity, academic success, and intellectual and social growth.

Ethics and the Impaired Employee Essay Example | Topics and Well Written Essays - 500 words - 9

Ethics and the Impaired Employee - Essay Example This study highlights that after Beverly states that she had four young children at home and had no other provider in the household to assist, the supervisor should have realized that Beverly’s drinking problems were likely a product of a stresses involved with single parenthood and the constant financial struggle which being a sole provider can create. For example, there are many psychological theories of motivation which suggest that an individual must have a sense of security as well as a sense of belonging within an organization in order to achieve maximum workforce performance on the job. Beverly is likely experiencing lowered security because of her financial situation and likely feels that her long-term sense of importance within the organization is being threatened by such a strict focus on policy and compliance. By highlighting all of her problems, rather than discussing the reasons behind the problems, the supervisor in the case study is isolating Beverly from the re st of the organizational staff and sending the message that she is deeply troubled. This discussion highlights that what Beverly required was for the supervisor to be more empathic to Beverly’s needs and attempt to find out what might be creating the psychological motivation to drink. Addressing the issue from a different angle would likely have prevented Beverly from committing suicide. For example, the supervisor could have asked whether there were problems with colleagues or with the organizational structure itself, creating the opportunity for Beverly to be more open and honest about what was really going on with her impairment issues. The supervisor should have set a positive interpersonal environment right from the beginning where it was illustrated that the supervisor and the organization is concerned about the well-being of Beverly.

Procurement and Inventory Management Essay Example | Topics and Well Written Essays - 2500 words - 1

Procurement and Inventory Management - Essay Example Better working practices are never achieved because Sound Electric Limited lacks a clear policy document or procedures of operations which touches on contracting and purchasing.There is poor record keeping technique such that it is always hard for the company management employees to retrieve updated data along with more current entire company’s level of stock. It is also hard for the auditors to retrieve the same data a thing that will result in improper auditing thus creating room for theft in the company. The resultant effect is the failure in closely controlling the company’s working capital thus failing to monitor correctly the true business progress. The whole system lacks accountability due to the fact that stock control and purchasing performance are not very well monitored making the staff determine their own precedence thus unbalanced cost considerations a thing that can greatly contribute to the failure of the company. Invoices are settled without a delivery p roof or even a certification as to whether the items received are the actual quantities reflected in the invoice. The company has been greatly undermined by the suppliers who feel that Sound Electric Ltd has poor specifications. There is lack competition when it comes to purchasing, requires no confirmation as to the obligations met by the contractors, does not negotiate for the price reduction, the company’s contracts fail to have conditions attached and lacks important knowledge about the contractor’s financial capability.