Crystal Meadows Case Study free essay sample

The social issues rose because of terrible societies from different nations. Societies which we don't take care of into our own social and strict qualities. Most youthful ages can't distinguish and examine what are the acceptable and awful things. It could be take out the virtues in every youthful age. The social indecencies that are tormenting our general public today could barely be indexed, they are uncountable in the genuine feeling of the declaration. Among the conspicuous social issues are the heightening wrongdoing waves, strict prejudice, slight for older folks, lethargy and delay of obligation, across the board of illnesses, showy spending, premature birth, pre-marriage pregnancy, run off (run off subtly to be hitched and for the most part without the assent or information on one’s parent), disciplinary issue, mental issue, hinder improvement of the nation, and liquor utilization. These are the impacts of our social issue among Malaysian youth. Most importantly we will examine the heightening wrongdoing waves among our Malaysian youth. Nowadays our Malaysian youth are include in numerous wrongdoing whether its little or enormous. One of the most widely recognized among our childhood are medicate misuse. Its dismal to see the fate of our nation the be include with this sorts of social issues, at a youthful age they are discarding their lives and future. We the general public used to imagine that sedate abuser are just among uneducated society and guardians. This announcements has change among the years as the kids from instructed and high society guardians are one of the greatest medication abuser. These are the Malaysian youth with the free progression of cash to purchase a wide range of medication, for example, pot, joy, cocaine and some more. This announcement doesn't imply that the young from the low salary society are not included. This are the adolescent that will cause a lot more wrongdoing because of their dependence on drugs. The medication abuser that originate from this general public doesn't have the free progression of cash as the high society youth need to they will result to different ways. Ways, for example, being a grab cheat, house looter, taking vehicles and bike. Some of them will go as far to executing individuals to get what they need. Social ills among young people that happened this period now. Likewise, different measures ought to be featured to defeat social ills among young people. First is the job of guardians. Guardians should screen and secure their kids. In present day times, numerous guardians occupied with their profession and leave their youngsters with no autonomous oversight. Consequently, checking of the guardians is critical to keep away from social issues among young people. Consequently, the job of networks in tending to social ills. Society assumes a significant job in tending to social issues. Network ought not stay quiet when you see something social ills that occur. It ought to have made fitting move. Cheerful and agreeable family is additionally essential to address the issue among young people. As model is eating together or sitting in front of the TV with relatives. Having quality time with relatives will have the option to reinforce ties between families. Some other method to take care of this issues happen among adolescents, young people should be particular in choosing companions. By along these lines the young people need to have old buddy to keep away from them caught in social issues. Young people can favored accomplices who will help them that can offer incredible guidance viewing social sick, for example, smoking, tranquilize misuse, dumping infant and others. A large portion of the occasions in a day adolescents invest more energy with their companions as opposed to their own families. This could give an incredible effect as a part of their character and style of reasoning. Other than that, after school projects could beat the social issue among young people. Projects that could draw in light of a legitimate concern for the young people can keep them from investing their energy sauntering around shopping complex, digital bistro, and others places. Time they spend to do these exercises cause them to be increasingly trained. All the more additional co-curiculum exercises ought to be held by the school, with the goal that the young people and kids will utilize their extra an ideal opportunity for substantially more valuable exercises. Consequently, they would not have the opportunity to be squander and doing futile exercises which will drives them to associated with social issues. As the greater part of the exercises lead for additional co-educational plan giving incredible virtues and have extraordinary purpose of perspectives throughout everyday life. Young people can learn and portion of thoughts with their companions. Broad communications is one system that has an extraordinary impact and powerful in the arrangement of human character. It is a socialization specialist and assumes a significant job in developing and advancing practices ethically in the public arena. Broad communications can shape the hearts way, mindset and character particularly individuals who work 24 hours. Broad communications ought to be liberated from philosophy grasp secularism, the outrageous business culture, belief system and material incitement to live in extravagance. Broad communications must have a fundamental way of thinking and strategies in accordance with the correspondence virtues of Islam. Authorities should build the broad communications feeling of responsibility, duty and their commitment to uphold unbiased and respectable qualities, for example, truth, trustworthiness, etc. Shopper broad communications, particularly the individuals who are mindful as guardians, instructors, political pioneers and executives ought to be increasingly astute ahead of the pack, control, improve reasonability, development and readiness and capacity to decide to communicate a progressively valuable waching by kids or the individuals who are under their consideration. Broad communications can likewise really be a vehicle through different channels, for example, data innovation, propelled Internet, sight and sound, etc. To wrap things up and one of the primary concern that can defeat this issue is the capacity of Religion. On the off chance that an individual comply with the orders and needs of their religion they won't really have been running into issues. Religion shows each and every of their kin to be a decent people and be incredible individual by complying with His requests and show virtues to be a thoughtful individual and how to carry on with their life. In this way, faithful request of god can control humankind to follow reality, and not to go the incorrect way. At the end of the day, a decent choice will help forestall social issues in the young people themselves. As an end, social issues must be fathomed not simply by the individual itself its additionally need the job of others so as to guarantee adolescents to defeat the social issue. Each and every segment of the family, association, companions and others that advances should have their impact in teaching young people to carry on with an incredible life ahead keeping away from the social issue.

Leadership in Aviation Business Opportunities

Question: Examine about the Leadership in Aviation for Business Opportunities. Answer: Presentation The security and operational issues coming from uncommon natural concerns have given a significant concentration to modify the initiative characteristics of the aeronautics division. Most of the pioneers has confronted the maintainability issue and worldwide difficulties to meet the set objectives of the aircraft associations. Simultaneously, the differentiated business condition has additionally offered exercises to the pioneers on the best way to adapt up to the difficulties and united business openings (Assaf Josiassen, 2011). This situation has gotten progressively urgent as the worldwide flight industry has encountered a scope of change due to the financial vacillation and other political variables. Thinking about the reality, the present examination endeavors to talk about the qualities of the effective pioneers in the flight business, trailed by the ID of its effect on the authoritative execution. A scope of individual experience and the general assessment of the pioneers have been led to draw a potential surmising of the investigation. The commitment made by the pioneers to the accomplishment of the flying associations Pioneers are the key variables for making the business openings by affecting all the monetary, cultural, political, and the innovative determinants. It has been distinguished on account of United Airlines Flight 232 DC-10 mishap; there is a decent execution of possibility authority in Captain AI Haynes administration style. The adherents are the most significant factor as the individuals followed the way that permitted the group to play out a crisis arrival to spare the lives of the explorers. As indicated by the assessment of Greenstein (2009), loss of certain travelers had happened however the choice had likewise assisted with enduring the lives most extreme travelers and the flight authorities. Besides, the Ansett Airlines is one of the main guides to develop gradually from the Ansett Airlines to Ansett-ANA. Considering the expressions of McClellan (2009), the compelling initiative style like McGregor's X-Y Theory has been trailed by the pioneers of Ansett to extend the business. Supporting this, Hicks (2013) refered to that the originator of the Southwest Airlines has concentrated on the great citizenship conduct to build the prevalent exhibition. The pioneers of the Southwest Airlines center around making work culture for excited propel the representatives to be the hierarchical residents. Adding to this, the originator of the JetBlue propelled the workers to the hierarchical citizenship through the factor of devotion (Rolkov Farkaov, 2015). Later on, the originator has advanced to frame another fruitful carrier like Azul Brazilian. Therefore, it could be deduced that the commitment of the pioneers is compelling to set up the authoritative achievement. The attributes of the effective pioneers in the business Without the nearness of a solid chief a hierarchical can't be fruitful in the business. The past researchers casted a ballot that self-administration is one of the principal attributes of a fruitful pioneer. In the assessment of Ruderman (2008), a viable pioneer can manage the time, sentiments, consideration and feeling to fortify the qualities of the association and the representatives. The flexibility of the pioneers includes dealing with the pressure of the representatives outside the work. It has been discovered that an effective administrator has the ability to utilize the force accurately. The obligation and the responsibility of the pioneers help the association to decrease the operational confuses and setting up an offsetting point of view with taking appropriate activities (Steiner, 2013). Moreover, the group building activities are one of the most partaking approaches of the pioneers to change a gathering with a particular character and the abilities for expanding the hierarchical profitability. Considering the assessment of Saini (2015), the pioneers must follow a decent implicit rules and the best moral practices for expanding the association worth and representative unwaveringness file. The critical thinking limit of the pioneers requires an assortment of thoughts and sentiments to dispense with any authoritative clashing circumstance. The critical thinking mentality of the pioneers is helpful for limiting the natural issues of the flight segment. Consequently, it could be derived that the pioneers of the association need to protect a continue vision for making a solid objective for the association. Distinguishing the three degrees of investigation of initiative hypothesis The three degrees of authority can envision and manage the progressions for building up great pioneers separated from the others. Each association has a more noteworthy requirement for utilizing a compelling administration. According to the three area administration model, the straightforward structure of the initiative model builds up the worker aptitudes by giving a decent system to preparing the representatives (Shinfuku, 2010). The three degrees of authority hypothesis can be arranged as beneath: Overseeing self for initiative space Driving and dealing with the group and association area Driving, overseeing, and adjusting to the outer condition space The main degree of authority limit in the model distinguishes the expertise and ability of the subordinates. The administration gives a decent instructional course to the representatives for expanding the presentation measures (McClellan, 2009). The subsequent space is the impression of the compelling work of the pioneers in the changing condition inside the working environment. The third level causes the pioneers to assemble a solid formal and casual system group to get normal input on the authoritative procedure. Henceforth, the pioneer audits the activities and alters the procedures according to the necessity of the authoritative achievement. Examining the job of an innovator in adding to aggregate adequacy So as to build up a socially-based relationship job of a pioneer is a chief significant factor. The socially based relationship with the devotees is critical as it is more viable as opposed to the monetary based relationship. According to the assessment of Greenstein (2009), it is the pioneers capacity to assemble potential hierarchical citizenship conduct (OCB). It has been estimated that OCB is required to transparently perceive the presentation of the representatives and give an appealing proper prize framework. OCB is likewise helpful to advance a viable hierarchical culture (Rolkov Farkaov, 2015). Adding to this, representative maintenance strategy of the pioneers is another huge factor that impacts the quality the worker relationship status of an association. On account of Aviation Industry, representative maintenance is one of the most significant chances to motivate the workforce. Moreover, the pioneers can make a positive trade condition that permits the subordinates to adjust the social characters to the hierarchical personalities. The range of control turns out to be increasingly easy and significant as the devotees can discuss legitimately with the pioneers. In the assessment of Steiner (2013), the pioneer gives a high structure to the outrageous activity fulfillment of the workers. AS the devotees don't give any sorts of power administration, accordingly, the pioneers offer thought in the working environment to maintain a decent authoritative culture. For a model, Saini (2015) referenced that Emirates Group, France Group and the Lufthansa Group are driving players to improve the gathering viability through the help of a potential chief. Consequently, compelling group building demeanor, well communicator and a decent dynamic methodology are the most basic job of a decent innovator in the flight part. Talking about the positive effect of initiative on hierarchical execution in the avionics business Having the option to keep up vital business arranging: The authority approach in the carrier area assists with building up a vital field-tested strategy. In the end, the perplexing assignments get settled. A sound head brings workforce inspiration and draws in the representatives inside the business examination process. At long last, the genuine business need gets recognized. An adaptable pioneer additionally causes the staff to lead an assortment of market review to decide the escape clauses and the quality of the organizations. Along these lines, the recognized holes can be limited. The brand gets higher supportability too. Audley et al. (2010) additionally included that top tier pioneers become ready to look the variety of the business and endeavor innovation to draw another plan of action. Pioneers from the corporate like Emirates, British Airline, and so on have figured out how to deal with the cost effectiveness and more prominent separation of the brands from the others. In the end, the brands have effectively dealt with the poten tial relationship with the speculators. Improving the client center and brand character: An adaptable administration style considers the Fielders Contingency hypothesis, which assists with executing more control to the compound business circumstance. Assaf Josiassen (2011) expressed that pioneers in the avionics business need to follow a Dyadic Approach to build the group viability and the general hierarchical achievement. Also, most of the executives working noticeable all around transport segment build up a vertical dyadic hypothesis and pioneer part trade hypothesis to make singular reactions among the in gatherings and out gatherings. For instance, the mix and self-advancement of the Ryanairs pioneers make it plausible to keep up more prominent brand character in the worldwide avionics area (Cento, 2009). Therefore, it tends to be expressed that the improved reactions make the pioneers ready to recognize the essential need of the clients relying upon which, key mediation happens. Thusly, the brand picture increments. Portraying the determinants of authoritative presentation The interior and outer business condition can be considered as the determinant of the corporate presentation of the carrier business. Providers, contenders an

Uses For the Merchant of Venice Essay Topics

Uses For the Merchant of Venice Essay TopicsIt is no secret that many students are using essay topics in their coursework and finals, but do you realize the benefits of using the Merchant of Venice essay topic? The great thing about this subject is that it is a big favorite with both teachers and students.This is a part of Dante's epic poem, the 'Divine Comedy,' in which we see some of the most well known figures in history as they travel through time visiting different places and interacting with each other. The Merchant of Venice is one of the most famous characters in the poem. You might be surprised to know just how much of an impact it has had on our culture.I have used the Merchant of Venice essay topics for many years, especially when I teach History. I have seen my students use it and think it is great. In fact, when I have worked on course projects that revolve around this topic, I have had them test the accuracy of the source material and also consider the literary value of the Merchant of Venice.The reason why the Merchant of Venice essay topics are so popular is that it is a popular topic and also because many people love this part of the poem. It is a part of the epic poem, and it is an important part of the story. In fact, most students want to study the Merchant of Venice even if it is not the main subject they want to cover in their courses.I think the main reason why students enjoy this part of the poem is because it tells us about the life of the famed Italian explorer Christopher Columbus. The poem also covers the corruption of the Catholic Church, and the problems the church was having with money. We can see how the Merchant of Venice can help us understand the evolution of our society and how the religious conflict went on.The Merchant of Venice essay topics are also important because of the main character, Don Quixote. These are the same reasons why people love this part of the poem. The poem takes place in a world full of adventure and my stery, which appeals to many students.It is the perfect essay topic for any class, particularly a History class, because it is so popular and a great subject to explore. Of course, one could always pick any other topic, such as Machiavelli, Chaucer, or Milton, but when it comes to the Merchant of Venice essay topics, students are always pleased to choose it.So why don't you try your hand at using the Merchant of Venice essay topics? It is a great subject and can be used in any English literature class. Just look through the works of Shakespeare and see if you can relate to the Merchant of Venice.

Internship Evaluation Of The Fx - 1013 Words

Angel Chang Wei Internship Evaluation Caxton FX is a UK-based foreign exchange company in London. The company’s objective is to put a Caxton card in every wallet and to facilitate corporate money transfer on behalf of its private and corporate clients. It’s a young and fast growing company which has grown from only one employee in 2004 to 120 employees in 2015. The turnover has grown from 750 million in 2013 to 1 billion in 2015. The company has zero debt and an AAA credit rating. The division which I have been assigned to is the corporate sales team, which has 30 people in 4 departments: lead generators, business development managers, senior sales managers and account managers. The board exploits market opportunities and develops new†¦show more content†¦With the information, the team gains a better understanding of the market and targets potential clients more precisely, which enhances working efficiency. The corporate sales team has a morning brief meeting every morning at 9 o’clock. In the meeting, one colleague summarizes the latest news, the main currency exchanges rates, and the major fluctuation in the foreign exchange market. Then, we have discussions on the impacts on the market in regard to the morning brief news. Next, one other colleague would proceed to give a notice with the major events that are going to happen on that day. He will also point out the possible effects on the foreign currency exchange rate. For example, he would speak of the meeting of the European Central Bank, the inflation figures in the UK and the US, the change of the interest rate in China, and so forth. Then the head of the corporate sales team will set daily goals with everyone in the junior sales team regarding the number of phone calls and trades they need to make. The morning meeting benefits everyone in the sales team to gain the ability to analyse the financial market better. It teaches me to integrate academic knowledge with daily news. The core class introduces the advantage of privatization in encouraging competition. Individual companies have to make profitable plans such as devolving management and decreasing costs, which in turn leads to greater efficiency and larger

The Concept of Care and the Nursing Metaparadigm Free Essay Example, 3500 words

The concept refers to terms that define phenomena occurring either in thought or nature (McEwen and Willis, 2006). Concepts normally contain some attributes which help to distinguish them. Since the formulation of concepts employs the use of words, concepts can be broadly be categorized as either concrete or abstract. The former can be perceived by the common senses and include concepts such as universe, passion, ground, which are symbolic and a representation of phenomena. On the other hand, abstract concepts include love, anger, passion etc. All these terms are particular to an entity and for that matter descriptive in nature. Concepts can be formulated using a single word, two words or a phrase (McEwen and Willis, 2006). Examples of single word concepts include death, fear, anxiety etc. The concepts with two words can take the form of mutual agreement, self-fulfillment etc. There are concepts which take the form of a phrase such as user-friendly services, environmental conscious behavior, poor service delivery etc. There are many concepts in different disciplines which help to differentiate one from the other. For the reasoned purpose of the systematic study of nature, it is important to come up with concepts that are clear (Duncan, Cloutier and Bailey, 2007). We will write a custom essay sample on The Concept of Care and the Nursing Metaparadigm or any topic specifically for you Only $17.96 $11.86/pageorder now This becomes a stepping stone that gives researchers and scholars a grasp of reality. It also makes the study of phenomena easier. Also in order to communicate meaning clearly to readers, there is a need for scholars to avoid ambiguity. This means that every time a term is used in a particular context, scholars must endeavor to define it to ensure proper interpretation. On the other hand, metaparadigms define a discipline and set the boundaries with other disciplines. It gives the discipline a global perspective which is useful for the practitioners of the discipline to observe phenomena within their parameter (Van Wyk, 2005). In most cases, it comprises a range of major concepts which act as its defining elements. These concepts within a metaparadigm act as limitations or boundaries of the discipline. Again, metaparadigm not only defines a discipline but also outlines its concerns.

The Imagery of Fire in Edwidge Danticat’s “A Wall of Fire...

The Imagery of Fire in Edwidge Danticat’s â€Å"A Wall of Fire Rising† The imagery of fire in Edwidge Danticat s short story â€Å"A Wall of Fire Rising† possesses a very powerful meaning and also continually changes throughout the entirety of the story. Fire was a very sacred thing to have, especially during the time this story has taken place. One example of how fire is used in the story A Wall of Fire Rising is the fire that is burning deep down inside of Big Guy. This fire is a metaphor of the build up of all of Big Guy s emotions and frustrations that happen and are presented throughout his life. Big Guy struggles with his inner self a lot. He is also ashamed because he has not had a job in six months, and even that job†¦show more content†¦In this perspective, the kerosene lamp represents Little Guy’s ambition of wanting success in his play and approval from his parents. No matter how dim the light was in the family’s hut, Little Guy was determined to learn his lines next to the lamp: â€Å"The boy went back to the corner where he had been studying and pulled out a thick book carefully covered in brown paper.† (pg 233) â€Å"He had to strain his eyes to see the words by the light of an old kerosene lamp, which that night – like all others – flickered as though it was burning it’s very last wick.† (pg 233) Learning these lines were super important to Little Guy because he wanted to do well in his play for school. Having such a significant part in the school play and being Boukman made Little Guy proud and he also wanted his parents to approve of him and be proud of him too. Little Guy would constantly interrupt Big Guy and Lili from their conversations or whatever they were doing by bringing up his lines in anyway possible: â€Å"A man is judged by his deeds,† she said. â€Å"The boy never goes to bed hungry. For as long as he’s been with us, he’s always ben fed.† (pg 242) â€Å"Just as if he had heard himself mentioned, the boy cam e dashing from the other side of the field, crashing on top of his parents.† â€Å"My new lines,† he said. â€Å"I Have forgotten my new lines.† (pgShow MoreRelatedThe Struggle of the People of Haiti in Edwidge Danticats Novel Krik? Krak!1204 Words   |  5 PagesEdwidge Danticats novel Krik? Krak! reflects the struggling people of Haiti from the 1960’s to the 1990’s. Danticat, born in Haiti, grew up hearing stories about her homelands past. She learned about the hardships and struggles her elders went through in Haiti. Danticat composed nine short stories that reveal the unmasking truth of what it was like in the previous generations to keep the history of her home country alive. Within the characters in these stories, she describes the inequality, cruelty

Oligopoly and Marginal Cost Firms free essay sample

An oligopoly is a market form in which a market or industry is dominated by a small number of sellers (oligopolists). Oligopolies can result from various forms of collusion which reduce competition and lead to higher costs for consumers. [1] With few sellers, each oligopolist is likely to be aware of the actions of the others. The decisions of one firm therefore influence and are influenced by the decisions of other firms. Strategic planning by oligopolists needs to take into account the likely responses of the other market participants. Oligopoly is a common market form where a small number of firms are in competition. As a quantitative description of oligopoly, the four-firm concentration ratio is often utilized. This measure expresses the market share of the four largest firms in an industry as a percentage. For example, as of fourth quarter 2008, Verizon, ATT, Sprint, and T-Mobile together control 89% of the US cellular phone market. Oligopolistic competition can give rise to a wide range of different outcomes. In some situations, the firms may employ restrictive trade practices (collusion, market sharing etc.) to raise prices and restrict production in much the same way as a monopoly. Where there is a formal agreement for such collusion, this is known as a cartel. A primary example of such a cartel is OPEC which has a profound influence on the international price of oil. Firms often collude in an attempt to stabilize unstable markets, so as to reduce the risks inherent in these markets for investment and product development. [citation needed] There are legal restrictions on such collusion in most countries. There does not have to be a formal agreement for collusion to take place (although for the act to be illegal there must be actual communication between companies)–for example, in some industries there may be an acknowledged market leader which informally sets prices to which other producers respond, known as price leadership. In other situations, competition between sellers in an oligopoly can be fierce, with relatively low prices and high production. This could lead to an efficient outcome approaching perfect competition. The competition in an oligopoly can be greater when there are more firms in an industry than if, for example, the firms were only regionally based and did not compete directly with each other. Thus the welfare analysis of oligopolies is sensitive to the parameter values used to define the markets structure. In particular, the level of dead weight loss is hard to measure. The study ofproduct differentiation indicates that oligopolies might also create excessive levels of differentiation in order to stifle competition. Oligopoly theory makes heavy use of game theory to model the behavior of oligopolies: Stackelbergs duopoly. In this model the firms move sequentially (see Stackelberg competition). Cournots duopoly. In this model the firms simultaneously choose quantities (see Cournot competition). Bertrands oligopoly. In this model the firms simultaneously choose prices (see Bertrand competition). Characteristics[edit] Profit maximization conditions An oligopoly maximizes profits . Ability to set price Oligopolies are price setters rather than price takers. [2] Entry and exit Barriers to entry are high. The most important barriers are economies of scale, patents, access to expensive and complex technology, and strategic actions by incumbent firms designed to discourage or destroy nascent firms. Additional sources of barriers to entry often result from government regulation favoring existing firms making it difficult for new firms to enter the market. [4] Number of firms Few – a handful of sellers. [3] There are so few firms that the actions of one firm can influence the actions of the other firms. [5] Long run profits Oligopolies can retain long run abnormal profits. High barriers of entry prevent sideline firms from entering market to capture excess profits. Product differentiation Product may be homogeneous (steel) or differentiated (automobiles). [4] Perfect knowledge Assumptions about perfect knowledge vary but the knowledge of various economic factors can be generally described as selective. Oligopolies have perfect knowledge of their own cost and demand functions but their inter-firm information may be incomplete. Buyers have only imperfect knowledge as to price, cost and product quality. Interdependence The distinctive feature of an oligopoly is interdependence. Oligopolies are typically composed of a few large firms. Each firm is so large that its actions affect market conditions. Therefore the competing firms will be aware of a firms market actions and will respond appropriately. This means that in contemplating a market action, a firm must take into consideration the possible reactions of all competing firms and the firms countermoves. [7] It is very much like a game of chess or pool in which a player must anticipate a whole sequence of moves and countermoves in determining how to achieve his or her objectives. For example, an oligopoly considering a price reduction may wish to estimate the likelihood that competing firms would also lower their prices and possibly trigger a ruinous price war. Or if the firm is considering a price increase, it may want to know whether other firms will also increase prices or hold existing prices constant. This high degree of interdependence and need to be aware of what other firms are doing or might do is to be contrasted with lack of interdependence in other market structures. In a perfectly competitive (PC) market there is zero interdependence because no firm is large enough to affect market price. All firms in a PC market are price takers, as current market selling price can be followed predictably to maximize short-term profits. In a monopoly, there are no competitors to be concerned about. In a monopolistically-competitive market, each firms effects on market conditions is so negligible as to be safely ignored by competitors. Non-Price Competition Oligopolies tend to compete on terms other than price. Loyalty schemes, advertisement, and product differentiation are all examples of non-price competition. Modeling[edit] There is no single model describing the operation of an oligopolistic market. The variety and complexity of the models is because you can have two to 10 firms competing on the basis of price, quantity, technological innovations, marketing, advertising and reputation. Fortunately, there are a series of simplified models that attempt to describe market behavior by considering certain circumstances. Some of the better-known models are the dominant firm model, the Cournot-Nash model, the Bertrand model and the kinked demand model. Cournot-Nash model[edit] Main article: Cournot competition The Cournot-Nash model is the simplest oligopoly model. The model assumes that there are two â€Å"equally positioned firms†; the firms compete on the basis of quantity rather than price and each firm makes an â€Å"output decision assuming that the other firm’s behavior is fixed. †[8] The market demand curve is assumed to be linear and marginal costs are constant. To find the Cournot-Nash equilibrium one determines how each firm reacts to a change in the output of the other firm. The path to equilibrium is a series of actions and reactions. The pattern continues until a point is reached where neither firm desires â€Å"to change what it is doing, given how it believes the other firm will react to any change. The equilibrium is the intersection of the two firm’s reaction functions. The reaction function shows how one firm reacts to the quantity choice of the other firm. [10] For example, assume that the firm 1’s demand function is P = (M Q2) Q1 where Q2 is the quantity produced by the other firm and Q1 is the amount produced by firm 1,[11] and M=60 is the market. Assume that marginal cost is CM=12. Firm 1 wants to know its maximizing quantity and price. Firm 1 begins the process by following the profit maximization rule of equating marginal revenue to marginal costs. Firm 1’s total revenue function is RT = Q1 P= Q1(M Q2 Q1) = M Q1- Q1Q2 Q12. The marginal revenue function is . [note 1] RM = CM M Q2 2Q1 = CM 2Q1 = (M-CM) Q2 Q1 = (M-CM)/2 Q2/2 = 24 0. 5 Q2 [1. 1] Q2 = 2(M-CM) 2Q2 = 96 2 Q1 [1. 2] Equation 1. 1 is the reaction function for firm 1. Equation 1. 2 is the reaction function for firm 2. To determine the Cournot-Nash equilibrium you can solve the equations simultaneously. The equilibrium quantities can also be determined graphically. The equilibrium solution would be at the intersection of the two reaction functions. Note that if you graph the functions the axes represent quantities. [12] The reaction functions are not necessarily symmetric. [13] The firms may face differing cost functions in which case the reaction functions would not be identical nor would the equilibrium quantities. Bertrand model[edit] Main article: Bertrand competition The Bertrand model is essentially the Cournot-Nash model except the strategic variable is price rather than quantity. [14] The model assumptions are: There are two firms in the market They produce a homogeneous product They produce at a constant marginal cost Firms choose prices PA and PB simultaneously Firms outputs are perfect substitutes Sales are split evenly if PA = PB[15] The only Nash equilibrium is PA = PB = MC. Neither firm has any reason to change strategy. If the firm raises prices it will lose all its customers. If the firm lowers price P MC then it will be losing money on every unit sold. [16] The Bertrand equilibrium is the same as the competitive result. [17] Each firm will produce where P = marginal costs and there will be zero profits. [14] A generalization of the Bertrand model is theBertrand-Edgeworth Model that allows for capacity constraints and more general cost functions. Kinked demand curve model[edit] Main article: Kinked demand According to this model, each firm faces a demand curve kinked at the existing price. [18] The conjectural assumptions of the model are; if the firm raises its price above the current existing price, competitors will not follow and the acting firm will lose market share and second if a firm lowers prices below the existing price then their competitors will follow to retain their market share and the firms output will increase only marginally. [19] If the assumptions hold then: The firms marginal revenue curve is discontinuous (or rather, not differentiable), and has a gap at the kink[18] For prices above the prevailing price the curve is relatively elastic [20] For prices below the point the curve is relatively inelastic [20] The gap in the marginal revenue curve means that marginal costs can fluctuate without changing equilibrium price and quantity. [18] Thus prices tend to be rigid. Examples[edit] In industrialized economies, barriers to entry have resulted in oligopolies forming in many sectors, with unprecedented levels of competition fueled by increasing globalization. Market shares in an oligopoly are typically determined by product development and advertising. For example, there are now only a small number of manufacturers of civil passenger aircraft, though Brazil (Embraer) and Canada (Bombardier) have participated in the small passenger aircraft market sector. Oligopolies have also arisen in heavily-regulated markets such as wireless communications: in some areas only two or three providers are licensed to operate. Australia[edit] Most media outlets are owned either by News Corporation, Time Warner, or by Fairfax Media[21] Grocery retailing is dominated by Coles Group and Woolworths. Banking is dominated by ANZ, Westpac, NAB, and Commonwealth Bank. To an extent this oligopoly is enshrined in law in what is known as the Four pillars policy, in order to ensure the stability of Australias banking system. Most of the telecommunications in Australia is delivered by Telstra or Optus. Other brands are virtual network operators (VNO). Canada[edit] Six companies (Royal Bank of Canada, Toronto Dominion Bank, Bank of Nova Scotia, Bank of Montreal, Canadian Imperial Bank of Commerce and National Bank of Canada) control the banking industry. As of 2008, three companies (Rogers Wireless, Bell Mobility and Telus Mobility) share over 94% of Canadas wireless market. [22][23] 4 companies control the internet service provider market, (Rogers), (Bell), (Telus), (Shaw) 8 companies control the oil and gas market, (Husky Energy) (Imperial Oil) (Nexen) (Petro-Canada) (Shell Canada) (Suncor Energy) (Syncrude Canada) (Talisman Energy) India[edit] The petroleum and gas industry is dominated by Indian Oil, Bharat Petroleum, Hindustan Petroleum and Reliance. Most of the telecommunication in India is dominated by Airtel, Vodafone,Idea, Reliance European Union[edit] The VHF Data Link market as air-ground part of aeronautical communications is controlled by ARINC and SITA, commonly known as the organisations providing communication services for the exchange of data between air-ground applications in the Commission Regulation (EC) No 29/2009. United Kingdom[edit] Five banks (Barclays, Halifax, HSBC, Lloyds TSB and Natwest) dominate the UK banking sector, they were accused of being an oligopoly by the relative newcomer Virgin bank. Four companies (Tesco, Sainsburys, Asda and Morrisons) share 74. 4% of the grocery market. The detergent market is dominated by two players, Unilever and Procter Gamble. [26] Six utilities (EDF Energy, Centrica, RWE npower, E. on, Scottish Power and Scottish and Southern Energy) share 99% of the retail electricity market. [27] United States[edit] Many media industries today are essentially oligopolies. Six movie studios receive almost 87% of American film revenues. [28] The television and high speed internet industry is mostly an oligopoly of seven companies: The Walt Disney Company, CBS Corporation, Viacom, Comcast, Hearst Corporation, Time Warner, and News Corporation. See Concentration of media ownership. Four wireless providers (ATT Mobility, Verizon Wireless, T-Mobile, Sprint Nextel) control 89% of the cellular telephone service market. [30] This is not to be confused with cellular telephone manufacturing, an integral portion of the cellular telephone market as a whole. Healthcare insurance in the United States consists of very few insurance companies controlling major market share in most states. For example, Californias insured population of 20 million is the most competitive in the nation and 44% of that market is dominated by two insurance companies, Anthem and Kaiser Permanente. [31] Anheuser-Busch and MillerCoors control about 80% of the beer industry. [32] In March 2012, the United States Department of Justice announced that it would sue six major publishers for price fixing in the sale of electronic books. The accused publishers are Apple, Simon Schuster Inc, Hachette Book Group, Penguin Group, Macmillan, and HarperCollins Publishers. [33][34][35] Worldwide[edit] The accountancy market is controlled by PriceWaterhouseCoopers, KPMG, Deloitte Touche Tohmatsu, and Ernst Young (commonly known as the Big Four)[36] Three leading food processing companies, Kraft Foods, PepsiCo and Nestle, together achieve a large proportion[vague] of global processed food sales. These three companies are often used as an example of Rule of three,[37] which states that markets often become an oligopoly of three large firms. Boeing and Airbus have a duopoly over the airliner market. [38] General Electric, Pratt and Whitney and Rolls-Royce plc own more than 50% of the marketshare in the airliner engine market. Three credit rating agencies (Standard Poors, Moodys, and Fitch Group) dominate their market and extend their crucial importance into the financial sector. See Big Three (credit rating agencies). Nestle, The Hershey Company and Mars, Incorporated together make most of the candy made worldwide. Microsoft, Sony, and Nintendo dominate the video game console market. Demand curve[edit] In an oligopoly, firms operate under imperfect competition. With the fierce price competitiveness created by this sticky-upward demand curve, firms use non-price competition in order to accrue greater revenue and market share. Kinked demand curves are similar to traditional demand curves, as they are downward-sloping. They are distinguished by a hypothesized convex bend with a discontinuity at the bend–kink. Thus the first derivative at that point is undefined and leads to a jump discontinuity in themarginal revenue curve. Classical economic theory assumes that a profit-maximizing producer with some market power (either due to oligopoly or monopolistic competition) will set marginal costs equal to marginal revenue. This idea can be envisioned graphically by the intersection of an upward-sloping marginal cost curve and a downward-sloping marginal revenue curve (because the more one sells, the lower the price must be, so the less a producer earns per unit). In classical theory, any change in the marginal cost structure (how much it costs to make each additional unit) or the marginal revenue structure (how much people will pay for each additional unit) will be immediately reflected in a new price and/or quantity sold of the item. This result does not occur if a kink exists. Because of this jump discontinuity in the marginal revenue curve,marginal costs could change without necessarily changing the price or quantity. The motivation behind this kink is the idea that in an oligopolistic or monopolistically competitive market, firms will not raise their prices because even a small price increase will lose many customers. This is because competitors will generally ignore price increases, with the hope of gaining a larger market share as a result of now having comparatively lower prices. However, even a large price decrease will gain only a few customers because such an action will begin a price war with other firms. The curve is therefore more price-elastic for price increases and less so for price decreases. Firms will often enter the industry in the long run.