Plant Layouts of Production of Isoamyl Alcohol

Plant Layouts of Production of Isoamyl Alcohol PLANT FACILITIES LAYOUT The economic construction and efficient operation of a process unit will depend on how well the plant and equipment specified on the process flow sheet is laid out. A facility is regarded as a building or a precinct. The process units and ancillary buildings should be laid out to give the most economical flow of materials and personnel around the site. Hazardous processes must be located at a safe distance from other buildings. Consideration must also be given to the future expansion of the site. A layout of a building is the map that shows the location of the building around the isoamyl alcohol plant such as car park, cafeteria, mosque, stores, workshop, laboratory and others. The most important place workers need to know is fire assembles point which a designated place where people have been told to wait after evacuating a building in the event of a fire or other emergency. A model facilities layout should be able to provide an ideal relationship between raw materials, equipment, m anpower and final product at minimal cost under safe and comfortable environment. According to Riggs, the overall objective of plant is to design a physical arrangement that most economically meets the requirement output quantity and quality. Irregular plant layout will disturb the flow production and relationship among management and other staff member. The objective of the plant layout is: Provide a systematic process in the plant. Reduce material handling cost. Reduce hazard to personnel. Increase employee morale. Reduce accident in the plant. To provide optimum space to organize equipment and facilitate movements of goods. Figure 1: Plant layout of isoamyl alcohol production plant Figure 1 above shows the plant layouts of production of isoamyl alcohol and the important element in this layout. There is a power station which will be supply power to the whole plant so that there will be enough power to generate the production of plant. If the plant having a sudden loss of power source, the plant can continue to operate normal as there is generator powerful enough to supply electricity as backup source of power source as the main power station is being fix to normal condition. Thus, this will prevent loss in term of time and production rate of company including avoiding from emergency cases such as overheating of equipment as cooling process is being disturbed. There are also facilities for workers such as wide parking area, cafeteria and a room for prayer. Then, maintenance store and workshop facilities provide the spare part and maintenance of the instrument in the plant. The spare part capacity need to be control to avoid any disturb to the process line in case of emergency. The Fire assembly area is to provide the safe location if fire occur in the plant. The fire assembly area is important to check all employees safe from the incident. This location is choose by focus on a safe distance from the building and the space is large enough for all the workers in the plant to gather. Storage store refers to the controls the inflow quantity and quality of the raw material supply which are chlorine, sodium hydroxide and pentane in a high quality. This important to avoid excess amount of raw material in the plant because buying to many raw material will results tremendous space and cost to maintain them. In this section will involve the recording of raw material inflow and outflow in the plant in order to reduce the cost of operation. This storage tanks that containing hazardous materials is sited at least 70m (200 ft) from the site boundary and the main storage areas are placed between the loading and unloading facilities and the main process un it. Laboratories are placed well away from potentially hazardous processes. In order to obtain high quality of the isoamyl alcohol production, the raw material supply needs to achieve the specification level that has been set in this company. This area will running the test for production line and raw material supply. Every raw material that being supply for production area need to be passed a quality test to control the quality of the product. All the analysis equipment will be located in the laboratory. The important part in the plant, this is the production of isoamyl alcohol occur. All the instruments involve in the production of isoamyl acohol will set in this area and systematic arrangement of instrument need to have in order to have efficient production line. The isoamyl alcohol production will undergoes chlorination, fractionation, hydrolysis and distillation process. Cooling towers are sited so that, under the prevailing wind, the plume of condensate spray drifts away from the plant area and adjacent properties.

Immanuel Kants Theory of Judgment Essay example -- Immanuel Kant, 201

What are, and what are the differences between, judgments of perception and judgments of experience for Kant? Understanding how the mind works has been a major goal throughout philosophy, and an important piece of this deals with how humans come to experience the world. Many philosophers have attempted to investigate this issue, and Hume successfully proposed a framework by which human understanding could be understood. This writing, however, spurred Kant’s philosophical mind, awaking him from his â€Å"dogmatic slumber† and leading him to develop his own framework to define thought. As Kant strongly disagreed with Hume’s stance that â€Å"it was entirely impossible for reason to think a priori,† he set to correct Hume’s misguided view of custom in regards to objective and subjective reality. ¹ The outside world, as defined by Kant, is referred to as nature, and â€Å"nature considered materialiter is the totality of all objects of experience† (Kant, 36). Human interaction with nature leads to judgments of experience, and these are empirical by def inition (p. 38). Empirical judgments are not limited to judgments of experience, however. Judgments of perception and judgments of experience constitute all empirical judgments, and there are significant differences between the two (p. 38). In order to properly define judgments of perception and judgments of experience, one must first examine the general framework for thought that precedes them. Kant begins by breaking cognition into two distinct parts: analytic and synthetic judgments (p. 9). Analytic judgments are simply statements about the status of some object, and essentially serve as definitions. Analytic judgments are true by virtue, as they â€Å"express nothing in the predicate but what has... ... when looking at pure understanding. Because these concepts exist a priori, it is interesting that they are used in the understanding of experience. Kant is careful in his application of his framework, however, as a goal in his writing was to outline boundaries of metaphysics as a science, and to determine if â€Å"such a thing as metaphysics be at all possible† (p. 1). Unfortunately for Kant, it is impossible for all things to be described with objective reality, as seen in his case of the soul (p. 86). While â€Å"determinable bounds [to reason] cannot be thought,† Kant successfully established a framework to examine thought and experience (p. 87). This framework exists in itself as subjective, however, and truly shows how pervasive metaphysics is. Works Cited Kant, Immanuel. Prolegomena to Any Future Metaphysics. New York: The Bobbs-Merrill Company, Inc., 1950.

How Economics Have Changed My Life Essay

They say that if you look at it things closely, you will see the essence of economics going about its daily routine. Indeed, from the man buying his morning coffee to the woman calling for a cab, the economic system is all around us. Not many people notice it (or are just apathetic about it). But surely, it’s everywhere. Day and night – it never stops. The moment the sun sets in one part of the world, money starts circulating on the opposite side. The buying and selling of goods begins. Services now continue with their proceedings and processes. And infrastructure construction resumes. Truly, depending on how one views his or her own surroundings, one will be able to see the active nature of economics. Economics, in the simplest sense, refers to the study of the production, distribution and consumption of goods and services. As a field of study, economics aims to comprehend the daily processes of the subjects mentioned. As such, the study of economics helps people understand the never ending activity of economics within their daily lives. Apart from the study of the production, distribution and consumption of goods and services, probably one of the most important aspects of economics is the study or analysis of scarcity. Scarcity, in the economic sense, means the availability (or unavailability) of resources (insufficient) that are used to satisfy the needs and wants of the populace. As what the late Lionel Robbins – a British Economist of the late 20th century – had claimed, â€Å"Economics is the Science which studies human behavior as a relationship between ends and scarce means which have alternative uses. Using Robbins’ definition, it can be deduced that the study of economics is the study of man’s choices over how to fulfill his needs and wants through the regulation and use of scarce natural resources. In its activities, economics attempts to make full use of scarce resources efficiently. This nature of efficiency helps the adherents of economics – and in the general sense, the entire world – to understand the world around them. Simply said, it helps the person who is familiar with economics understand how or why a certain product’s price goes up or down. Likewise, a person who understands the study of economics will be able to determine the economic health of his or her own country; thus, paving the way to understanding and interpreting some possible implications to the politics of the nation, its society and its environment. Truly, people who understand economics are people who understand how the world works (at least in terms of human resources and human activity). Let us take, for example, the Stock Market. How does a stock price go up? Why does it go down? How do people profit from it? Oppositely, how do people lose money from it? Economically speaking, the Stock Market is or can be used as a determinant for the country’s economic growth and development. As such, people who understand the Stock Market will be able to understand the aggregate economy of the country. However, before everything else, one must first understand the study of economics before one can understand the working’s of the Stock Market. This statement only highlights the importance of economics in our daily lives. Personally, my study of economics has helped me advance my life in many ways. For starters, it has helped me understand the law of supply and demand. The law of supply and demand is undoubtedly one of the strongest foundations of every economy in every country in the world. As the law dictates, the higher the demand, the higher the supply and consequently, the higher the supply, the lower the demand becomes. Basically, the law follows a simple cycle of product prices fluctuating in response to the populace needs and wants. Understanding this law benefits me in more ways than one. For instance, I am able to anticipate whether a certain product’s price will go up or down. By understanding that higher demand tempts sellers to increase their prices, I am able to expect such fluctuations and then make my monthly budgeting more versatile and frugal. Likewise, I am able to anticipate whether a certain product’s price might go down due to excessive supply and low demand. In that way, I am able to make certain changes in my spending habits by carefully predicting the right time prices will go down; thus, maximizing my available purchasing power. Indeed, knowledge about the Law of Supply and Demand can make an individual more frugal and less prodigal – simply said, it makes a person more â€Å"economic†. This knowledge may seem to be irrelevant for some people. But personally, I find this knowledge an advantage against others. Being able to hold a sort of reading reference for possible future circumstances pertaining to product prices can truly serve as an edge over other consumers. And this advantage does not stop there. The more a person studies the field of economics, the more he or she will understand the workings of the economy and ultimately use it to his or her own advantage. Let us take, for example, the Banking System. In the past, I found the system of banks and their proceedings to be an intricate process that is too much for the average person to understand and take advantage of. After understanding the basic foundations of economics, however, I was able to somehow comprehend the normal workings of the Bank. By being able to do so, I am able to take advantage of the Bank’s perceived benefits without ironically putting myself within the economic damages of the Bank’s perceived detriments. Furthermore, I am able to understand the workings of borrowing and paying loans – both in its deadly and beneficial aspects. Now armed with this knowledge, I am now able to perform financially competent within the economy of the country. I am able establish businesses with the help of the bank; of which, technically, results to the creation of jobs, the stimulation of buying and selling of products and materials and the circulation of money – all done accordingly in contribution to the aggregate economy of the nation. The study of economics, as some historians and economists suggest, has been around since the time humans first initiated commercial relationships with different societies within their own kind. Indeed, humankind started out with some simple trade rules and processes. The most famous of all (and probably the most ancient) was the trade process known as barter. Barter is simply an act of exchanging one’s goods in trade for another’s. Many traders and/or merchants from different societies have used this method for centuries – trading valuable goods in exchange for the exotic, the priceless for the unique and the old for the new. It is through this type of trading process that humankind first developed a sense of importance for this activity of buying and selling of goods. For one thing, security and trust was a problem. A lot of traders mostly lie about the quality (and sometimes the quantity) of their goods. Some even resort to petty thievery and conning activities – mostly after the trade has been conducted. Furthermore, people faced problems with regards to the implications of their activities. Imagine a situation in the past where we assume that a Chinese trader decides to bring Jadestones to India. The traders of India are delighted. They then exchange their goods. The next week, the Indian traders demand to the Chinese traders to bring more Jadestones for the people of India somehow found it both exquisite and valuable. Since trade was done merely through barter, Jadestones poured into the Ancient Indian Society in exchange for more important goods such as rice, wood and other agricultural or mineral products of lesser value. The end result would be a disaster: Jadestones overwhelming the country without any way of determining its value to other foreign traders whom they wish to sell it to or who wish to acquire it. If the study of economics was prevalent back then, this situation could have never happened. Speaking of commerce, history suggests that humankind eventually evolved from barter to the use of currencies through the development of ancient coins. Initially, currencies where first developed through the creation of small metal coins that were used to represent stored values of cargo and commodities. Eventually, these coins began storing value themselves. Coins made from many different kinds of materials – ranging from plain metal to solid gold – started becoming valuable. Thus, came a different era where trading no longer requires the loss of one’s goods in exchange for another. Coins of different kinds were now used to determine the value of the goods that were being taken – or in the economic sense, sold. Purchases and exchanges were now done in accordance with the value of the coins being exchanged. For instance, gold coins were used for large purchases and the backing of State activities. Silver coins represented large transactions between traders and merchants while copper coins represented common transactions between citizens. Eventually, the era of coins was put to an end when the introduction of paper money and credit money began in as early as the 7th century in Ancient China. Being that major traders were now trading in huge volumes whilst bringing and using large amounts of coins during their trips in order to conduct their proceedings and processes, the weight of their carriages became intolerable. Thus, ancient traders and merchants resorted to putting their name and the amount of coins they had on paper – indicating to their counterparts and colleagues that that were the amount of coins they had (which, unfortunately, they cannot bring). It was less burdening for merchants and traders alike. In fact, the Ancient Chinese Emperors found it so convenient that they began establishing the act (the putting the amount on paper) as a business norm. Paper money was then regulated among the populace and among traders and merchants overseas. The rest, as they say, was history. Governments, Empires and Monarchies alike began issuing a unit of currency for their paper money and no sooner, the era of currency trading began and at present, major international organizations such as the International Monetary Fund and others now regulates the entire foreign exchange system of the world. All of these were made possible through the study of economics. And for that, I can safely say that economics have already made an impact on my life even before I was born. I can only imagine what life would be if currencies were not yet introduced in the world of business. Purchasing products would probably be a hardy task. Obtaining resources from other countries would also require intricate processes and mechanics. Ultimately, governments would probably find it hard to conduct businesses, regulate the economy and build infrastructures. The study of economics has helped me understand all these concepts and contexts (even though only in a minimal level). Indeed, though the existence of these ancient currencies may have been one of the earliest foundations of the development of the study of economics, it cannot be denied that it was the study of economics which made the nature of these currencies become more comprehensible. The creation of paper money and credit money has benefited humankind in many ways. First of all, people are now able to carry with huge amounts of money with as little weight as possible. Second, the value and goods can now be easily determined (coupled with the law of supply and demand). Finally, business transactions and salary payment can now be easily conducted. All these benefits have undoubtedly manifested themselves generally from the study of economics. The study of economics have helped me changed my life in more ways than one. Apart from making my life a lot easier (as compared to the absence of the knowledge of it), it has also made me change my view of a lot of things. Studying economics has made me understand how the country’s economy runs. It helped me understand how banks and other financial institutions work. Furthermore, it has also helped me understand the daily workings of everyday life – from the buying and selling of goods to the acquiring and paying of debts. As such, I am able to see things in a more â€Å"economic† view. And indeed, it has made my life more fascinating, if not complex. Learning economics is not an easy task. Economics, in general, covers a lot of topics and sub-topics ranging from microeconomics to macroeconomics. As such, it is important for its recipients to devote as much time as possible in order to – not necessarily master but – be adequate about it. For one thing, economics is not a walk in the park. With all its benefits and privileges comes a different set of detriments and sacrifices. I am not implying, though, that those who do master all the concepts and contexts of economics will be the ones who’ll practically lead better lives than others – that is a different issue. I am implying, however, that those who do master economics in all its wonders and intricacies will lead very different lives as compared to those who are completely ignorant or apathetic to the knowledge. As said before, economics is all around us. It never sleeps. Its processes and activities are present in every society, in every community. It is a sort of quasi-invisible force that, if viewed consciously, would guide our everyday lives. As such, it is important to note that having the knowledge of economics is better than having none.

Shock Incarceration - 1779 Words

Miranda Warnings You have the right to remain silent, anything you say can and will be used against you in a court of law. You have the right to speak to an attorney, and to have an attorney present during police questioning, if you cannot afford an attorney, one will be appointed to you by the state. These words have preceded every arrest since Miranda v. Arizona 1966, informing every detained person of his rights before any type of formal police questioning begins. This issue has been a hot topic for decades causing arguments over whether or not the Miranda Warnings should or should not continue to be part of police practices, and judicial procedures. In this paper, the author intends to explore many aspects of the Miranda†¦show more content†¦The defendants right against self-incrimination, is the essential mainstay of the United States adversary system and guarantees to the individual the right to remain silent unless he chooses to speak in the unfettered exercise of his own will, d uring a period of custodial interrogation as well as in the courts or during the course of other official investigations (Miranda v. Arizona 1966). Today, for law enforcement officials, the Miranda warnings have been deeply absorbed into standard operating procedures. 38 years after Miranda v. Arizona was decided some have made attempts to overturn the decision, however, the majority of law enforcement officials feel that the decision should remain in effect. Miranda warnings have become extremely familiar to the majority of U.S. citizens over the past decades through movies and television. Miranda warnings have come to play a very unique and immensely important role in the nation s conception of the U.S. criminal justice system. Miranda warnings promote public confidence that our criminal justice system is fair (Frieden 1999). Another benefit that Miranda warnings provide to law enforcement is due to that public confidence mentioned above, detectives who are in charge of interro gating a suspect can use Miranda in their tactics. Detectives begin by cultivating the suspect, getting him to make eye contact and engage in conversation. This along with theShow MoreRelatedEssay on SHOCK INCARCERATION1734 Words   |  7 Pages nbsp;nbsp;nbsp;nbsp;nbsp;Miranda Warnings nbsp;nbsp;nbsp;nbsp;nbsp;You have the right to remain silent, anything you say can and will be used against you in a court of law. You have the right to speak to an attorney, and to have an attorney present during police questioning, if you cannot afford an attorney, one will be appointed to you by the state. These words have preceded every arrest since Miranda v. Arizona 1966, informing every detained person of his rights before any type of formalRead MoreCorrectional Boot Camps - Shock Incarceration2187 Words   |  9 PagesCorrectional Boot Camps - Shock Incarceration Abstract While most criminal end up in general population, there are many other ways to do time. Boot camp is an option for petty offenders. Successfully completing the program, criminal offenders can bypass prison all together. Though it may be a safer choice, it is not as easy as it sounds. This paper evaluates the history of correctional boot camps, the eligibility of whom is accepted into the program, the graduation statics, and crime recidivismRead MoreJuvenile Boot Camps : A Shock Incarceration Technique1894 Words   |  8 PagesJuvenile boot camps are what are known as a shock incarceration technique. The purpose of shock incarceration is to scare the convicted into changing their ways. Unlike most other shock incarceration techniques, the boot camp method is designed as a way to promote structure and discipline into the lives of the juveniles. They do this by having a highly structured routine that includes physical training, marching in formation, and professional development activities. The use of juvenile boot campsRead More Juvenile Bootcamps Essay1968 Words   |  8 Pages Boot camp is an alternative to incarceration. In this paper I will prove that Boot Camps for youthful offenders are effective. Boot camps started in the year 1888 by Warden Zebulon Brockway at the Elmira Reformatory located in Elmira, New York. The warden did this because he wanted to invoke a new way of disciplining and keeping the inmates active. The reasoning that this style of imprisonment worked was because there were virtually no prison guards which saved thousands of dollars. AnotherRead MoreThe Total Effects Of Boot Camps That House Juveniles847 Words   |  4 PagesThe Total Effects of Boot Camps That House Juveniles: A Systematic Review of the Evidence. In the 1980s the first shock incarceration programs or boot camp was introduced for the adult’s correctional system. Since than it have rapidly grown, and widely adopted across the fields of corrections and juvenile justice. The attraction towards the shock incarceration program originated from the instinctive belief that military methods promote honorable behavior. However, for others, it is the effectRead MoreCompeting Theories of Corrections1624 Words   |  7 Pagesin the office a state senator, I have been asked to prepare a detailed outline on correctional theory in general and then make a series of suggestions on ways to implement some of the nontraditional theories of corrections. In reviewing mass incarceration there is often criticism of simple warehousing of human beings who are convicted of crimes. If it is a violent crime there is a need to safeguard society from future criminal acts of a person who is convicted of the most heinous offenses. I willRead MoreEssa y on Boot Camp1400 Words   |  6 Pagesgive a brief overview of boot camp institutions, specifically, about the operation and structure of these, the cost involved with both juvenile and adult facilities, and how effective they really are with regard to recidivism. Boot camps or shock incarceration programs, as they are also called, vary greatly around the country. At the start of 1997, 54 adult boot camp facilities operated in 34 states and the Federal Bureau of Prisons, with a total of 7,250 inmates. Most include physical training, hardRead MoreJuvenile Corrections Essay1373 Words   |  6 Pagesconsidered an extended foster home that is designed to incorporate a larger number of youths. What are halfway houses? What are their functions and goals? Halfway houses are non-confining residential facilities intended to provide an alternative to incarceration as a period of readjustment to community for offenders after confinement. Halfway houses are used by parolees while they seek out employment and adjust to the outside world. Halfway houses aim to give the parolee a transitional shelter so thatRead More Alternatives to Incarceration Essay876 Words   |  4 PagesAlternatives to Incarceration Ever since the first prison opened in the United States in 1790, incarceration has been the center of the nations criminal justice system. Over this 200 year period many creative alternatives to incarceration have been tried, and many at a much lower cost than imprisonment. It wasn’t until the late 1980’s when our criminal justice systems across the country began experiencing a problem with overcrowding of facilities. This problem forced lawmakers to developRead MoreAlternative to Incarceration Essay894 Words   |  4 PagesDecember 5, 2001 Alternatives to incarceration Ever since the first prison opened in the United States in 1790, incarceration has been the center of the nations criminal justice system. Over this 200 year period many creative alternatives to incarceration have been tried, and many at a much lower cost than imprisonment. It wasnt until the late 1980s when our criminal justice systems across the country began experiencing a problem with overcrowding of facilities. This problem forced lawmakers

Starbucks Environmental Scan - 1141 Words

Starbucks Environmental Scan Starbucks is a company in which purchases and roasts high quality whole bean coffees and sells them along with fresh, rich-brewed, Italian style espresso beverages, a variety of pastries and confections, and coffee-related accessories and equipment (starbucks.com). During my environmental scan in which took place at the Starbucks on the corner of Fair and Newport across the street from vanguard, I noticed many things in which where never brought to my attention in prior stays and visits at Starbucks; such as the many social groups in which choose to have their meetings at Starbucks. Thus in this essay we will discuss things in which many people do not really notice when going to Starbucks. The first†¦show more content†¦Even with me, even though I was only there for a little more than an hour they all were talking and joking around with me as if they have knew me for months and did not just meet me that day. Thus through my experience it seems as if Starbucks has the best employees when it comes to interaction with there customers. Also all of the staff members seem as if they all like each other, because they all work very well together and it seems as they are having a fun time while they are at work, since they all get along and joke with each other. When it comes to whether people take there drinks to go or drink them in the store, on the most part it seemed as if everyone that got a drink stayed and drank there drinks in the store. The reason why most people where getting drinks and staying at the store was because most of the people in which came during that time where college students and they where all having there study groups inside since it is worm and quiet. Also when people came to Starbucks most came in a group and keep conversation within there group, but then there was the occasional person in which came by themselves but in that case they either took there drink to go or they had a book with them in w hich they sat down and read it while having a cup of coffee. On a side note something that I realized is that Starbucks is known world wide as a place in which you can come get a cup of coffee andShow MoreRelatedEnvironmental Scan Paper1497 Words   |  6 PagesEnvironmental Scan Paper MGT/498 December 10, 2014 Dr. Pamela Linden Environmental Scan Paper Environmental scanning plays a critical role in the strategic management planning process. The environmental scan provides important information, which may be useful in forecasting changes for the future. Environmental scanning is, â€Å"the monitoring, evaluation, and dissemination of information from the external and internal environments to key people within the organization.† (Wheelen and HungerRead MoreMgt 498 Week 3 Environmental Scan Paper1099 Words   |  5 PagesEnvironmental Scan Paper Your Name MGT 498 Week 3 Instructor Name Date For any company to survive in the business environment, they must be accustomed toward any situation within the environment because of certain issues, perceptions, chances, and resources. These are such reasons every business must observe any applicable changes, which can occur within the environment and invent from existing policies to adjust toward variations. For any company to succeed the company will need to conquerRead MoreMgt 498 Week 3 Environmental Scan Paper1112 Words   |  5 PagesEnvironmental Scan Paper Your Name MGT 498 Week 3 Instructor Name Date For any company to survive in the business environment, they must be accustomed toward any situation within the environment because of certain issues, perceptions, chances, and resources. These are such reasons every business must observe any applicable changes, which can occur within the environment and invent from existing policies to adjust toward variations. For any company to succeed the company will need to conquer theRead MoreEnvironmental Scanning Paper1834 Words   |  8 PagesAbstract Environmental scanning is the first portion to an organization’s strategic management and is very important to the corporation. Environmental scanning is gathering information for the external and the internal of the company. A SWOTT is the best way to gather the information. A SWOTT is determining the strengths, the weaknesses, the opportunities, the threats, and the trends of the organization. Starbucks is a coffee shop that sets out to be different from the competitors. The company doesRead MoreIntelligence Gathering Using A Time Analysis1553 Words   |  7 Pagesthe manager must scan the environment to identify barriers and opportunities in the organization, industry, and marketplace (Reed Bogardus, 2012). Starbucks Corporation (Starbucks) is one organization familiar with the competition. To remain aggressive in the coffee market, Starbucks must execute a TIME analysis to distinguish their strengths and weaknesses in the various segments and employ a plan leading them to victory over their opponents. Starbucks Corporation Starbucks operates in 65 countriesRead MoreShould Starbucks Open a Store in Havana?883 Words   |  3 Pagesï » ¿The management issue at hand is the question Should Starbucks open a store in Havana? The management issue here is foreign market entry. There are a number of methods to execute foreign market entry greenfield subsidiaries, joint ventures and licensing among them, but the more important immediate decision is whether the company should. For this exercise, it will be assumed that the company will partner with a Spanish hotel chain that has a major hospitality presence in the country, and will makeRead MoreFast Food Scandal Analysis Essay1406 Words   |  6 PagesArticle Number 1 Title: â€Å"There May Be a Little Poop in Your Starbucks Iced Coffee† Author: Clint Rainy Date of Article: March 1, 2017 Summary of Topic: What are faecal coliforms? These are microscopic bacteria which originate from human waste. In other words, the intestines of warm-blooded animals. Such bacteria often pollute water sources however in the case of the following article, faecal coliforms were found in the ice of the Starbucks food franchise. The issue with faecal coliforms is that theirRead MoreStarbucks Marketing Macro Environment Essay1609 Words   |  7 Pagescoffeehouse business, specifically Starbucks. The report will cover a brief background of the company and reasons to why Starbucks has been selected as a center group to display a marketing report. A macro environmental study will demonstrate important possible threats and opportunities for Starbucks. It will also look into further segmentation research, characteristics, views and behaviors within the consumer groups. Background to Starbuck and Selection Criteria Starbucks was established in 1971Read MoreEconomic Trends of the Restaurant Industry967 Words   |  4 Pagesand Starbucks, however there are many who were not as fortunate such as Sbarro and Marie Callenders (Bite Club, 2011). There are also many new trends that are working to shape future industry growth. One central trend in the industry has been and continues to be consumers desire to eat substantially healthier foods than they have previously. What are a few resources found most useful in environmental scans? How can one determine which information to incorporate in your environmental scan for aRead MoreCub A Long Term View1248 Words   |  5 Pagesor knowledge into said market, the global market entry strategy that I would choose to utilize would be the indirect exportation of my products. In the event where I have not exhausted all of my available resources into completing a thorough environmental scan, do not have enough funds to more heavily commit financially into the endeavor, recognize the amount of risk involved with branching my products into another nation, or do not have a pervasive enough control in my marketing abroad, then indirectly

The Poverty Of The United States Essay - 3731 Words

Introduction In the United States, there is a significant number of women and children that live below the federal poverty line and many still live below twice the poverty line (Jackson, 2014). According to the United States Census Bureau (2016), to be considered in poverty, individuals or families meet certain income thresholds based on family size and composition. Based on these thresholds, people in poverty are at the minimum level of income deemed adequate to provide the basic necessities in life. With poverty often comes food insecurity which can lead to a variety of negative effects such as health concerns, increased health care costs, and emotional and social issues (Jackson, 2014; Henchy, Weill, Parker, 1999). There are a range of nutritional policies in place that help women and children who live in poverty and food-insecure households, such as the Special Supplemental Nutrition Program for Women, Infants, and Children (WIC) (Jackson, 2014; Marx, Broussard, Hopper, Worster, 2010). This paper provides a basic policy analysis of the WIC program. WIC Overview and Goals The WIC program is a federally funded program that is intended to improve health and provide supplemental foods to women, infants, and children up to age 5 found to be at risk nutritionally (Oliveira, 2015; Macartney, n.d.). Participants of the program benefit from being able to regularly obtain certain food, through vouchers, that improve their overall health, and that are essential for physicalShow MoreRelatedThe Poverty Of The United States1727 Words   |  7 PagesPoverty defined by the American Heritage Dictionary is â€Å"lack of the means of providing material needs or comforts† (Hirokazu Yoshikawa, 2012). Poverty in the United States is an issue that is often times overlooked because the focus of poverty is on developing and struggling countries. People often think America does not experience poverty because it is such a thriving country. The problem with this is that America is indeed struggling with poverty: â€Å"there are currently 488 counties in America whereRe ad MoreThe Poverty Of The United States1548 Words   |  7 Pagescitizens in poverty has risen. Several organizations have been set up to help those who suffer from poverty and provide their everyday needs. There are always ways where a community can help eliminate the amount of people suffering poverty. Government has an influence on how much money flow there is in the United States such as the FED, which was created to help maintain a stable monetary and financial system and control the money supply. People themselves can also help from falling into poverty, butRead MorePoverty Of The United States1408 Words   |  6 PagesWhen people hear the word poverty many people think of the bad connotations that come with it like, smelly homeless people that are crackheads and disease holders. Some people may even think they are uneducated or not hard working enough and rather ask for money instead of trying to get a job. Although a small portion of that may be true to some homeless p eople due to addictions on drugs and the toll it takes on their lives. The majority of homeless people are either veterans or immigrants, who findRead MorePoverty in the United States755 Words   |  4 PagesPoverty in the United States is getting in inferior quality every day and nothing is being done about it. Many people who want to help the poor, but no one knows exactly how to help them. A primary reason for people not taking action is because of lack of information that is provided about issues on poverty. Poverty is defined as the state of one who lacks a usual or socially acceptable amount of money or material possessions. According to the U.S. Census Bureau data released Tuesday September 13thRead MorePoverty Of The United States Essay1369 Words   |  6 PagesPoverty within the United States is defined as â€Å"having an income below a federally determined poverty threshold. † Poverty thresholds were developed by the United States government in the 60s. Over tim e these thresholds are adjusted to account for inflation; it is typical to adjust the poverty threshold levels annually. They represent the government’s estimate of the point below which a family has insufficient resources to meet their basic needs. Any family with less income than that establishedRead MoreThe Poverty Of The United States1531 Words   |  7 Pagessuch dialog, topics on the increasing and rather consistent levels of poverty in some regions in America are touched on as well. Poverty is defined as a condition where one’s basics needs for food, clothing, and shelter are not being met (What Is Poverty? â€Å"). From sea to shining sea, more than 15 percent of the American population live in poverty, a total of people over 46 million. Many who live in poverty within the United States live in areas that were once thriving from the country’s economic growthRead MoreThe Poverty Of The United States Essay1385 Words   |  6 Pages The Character of Poverty in America Poverty has always been a key factor in United States History. Ever sense Americas birth there have been groups affected by poverty, but the forms of the poverty that affected these groups have changed as well as the nature of poverty itself in the USA. The abolition of slavery, the forced assimilation of native Americans, and mass immigration changed character of poverty within the united states change due to an evolution from agriculture to industry and a changeRead MoreThe Poverty Of The United States1746 Words   |  7 PagesWhat is poverty? A question most Americans will not have to think twice before answering. Poverty is, of course, simply a lack of money. The views of a specific person will defer when politics or morals are introduced, however, the idea stays the same. Those in poverty are there because they have less money than what has been decided to be livable. Poverty has changed significantly over the last two hundred years in the United States, and yet, the measuremen t has hardly changed since it was createdRead MorePoverty in the United States1061 Words   |  5 PagesThe Background of Poverty in America In the United States, there are about more than forty-six million people living in impoverished conditions today. Poverty is a major conflict issue in this country amongst people who are part of the lower class because American families always had a hard time making ends meet, even before the Great Recession began. Living in poverty puts them at a disadvantage because they have to choose between necessitates like health care, child care, and food in order toRead MorePoverty Of The United States1475 Words   |  6 Pages â€Æ' Poverty in the United States is defined as a social problem. As outlined in the text, a social problem is â€Å"a condition that undermines the well-being of some or all members of a society and is usually a matter of public controversy†. It is easy to see that there is a large economic divide in the United States, but with only a small percentage of people in the highest income stratification and the vast majority struggling to get by, the majority of United States citizens agree that there is too

Price Setting in Natural Monopoly-Free-Samples-Myassignmenthelp

Question: Explain how and why governments may want to regulate the price setting of a natural Monopoly. Answer: Introduction A monopoly refers to a market structure where there is only one provider of a service or a product without any close substitutes or competitors. Riley (2015) notes that in such a setting, the market must not be necessarily nationwide but the term monopoly can be used in reference to a territorial market. Having noted the foregoing, attention is given to the term natural monopoly. It is noted that the term natural monopoly is not in any manner used in actual reference to the actual number of providers of the same service or product in a particular market setting. Instead, refers to the interconnection between demand for a service or a product and the supply technology employed to avail the service or a product to the consumers. A natural monopoly therefore refers to a situation where either one of the firms in a particular industry is able to meet the demand of a common product or service at the lowest cost where otherwise it would be costly for two or more firms to meet (Riley, 2015) . A natural monopoly presents a dilemma to public policy. This is in the sense that whereas they imply production efficiency, at the same time, the lack of competition presents the monopoly firm the opportunity to exploit consumers for profit maximization. In a natural monopoly market where there are two or more firms, two outcomes are likely. In the first instance, the firms are likely to merge or they will fail and leave one dominating the market. In this case, competition in such a market will be short lived. In the second instance, the two forms may continue to operate parallel to each other, in which case the high cost of production will consume more resources which will be an inefficient operative standard (Minamihashi, 2012). On this front, one can argue that to ensure efficiency, competition in a natural monopoly is not a viable regulatory mechanism. Rather, the adoption of direct controls as a viable regulatory mechanism should be considered. This paper examines in great detail the economics of scale for a natural monopoly and briefly presents the advantages and disadvantages of a natural monopoly market structure. The need for the regulation of prices and means of regulation are then discussed before drawing a general conclusion. The information contained in this research shall be beneficial to the consumers, the public and students, all of whom need to appreciate the importance of natural monopolies and the economic considerations to be noted when dealing with a similar market structure. Analysis A monopoly market is characterized by entry barriers which present obstacles to other firms intending to break ground into the industry or market dominated by the monopoly firm. This allows the dominant firm to continue operation as a sole provider of the product or service in the industry and in turn make supernormal profits as shown in figure 1 below. These barriers come in the form of patents, licenses, high start-up capitals, economies of scope, product differentiation, among others. Of particular interest in this research is the barrier of economies of scale where unit cost reduction is dependent on output size. This barrier is discussed in detail below. Economies of Scale for a Natural Monopoly As noted above, monopolies present a challenge of having the latitude to produce products at lower output levels such that the end product is priced higher than it would in a competitive market setting. In essence, the restricted output levels maximize profits without taking into account consumer welfare (Welker, 2013). However, due to economies of scale, it is most economically sensible when only a single firm operates in a certain market such as is the case in the natural gas industry, cable TV, water and sewerage, electricity, among others. In a natural monopoly, the monopoly holder sets the product price and output levels based on the profit maximization rule. This rule holds that unregulated firms produce at the level where marginal revenue equals marginal costs. The challenge with this rule is that for such firms, marginal cost and average cost is lower than the price charged and therefore, if the profit maximization rule is applied, this would result in allocative inefficiency whereby the product will not be affordable to some consumers (Opentextbc.ca. 2016).The diagrams below illustrate the economies of scale in a natural monopoly: Fig (1): Pricing in a monopoly market Source: Tejvan (2016) MR- Marginal Revenue, MC- Marginal Cost, Qm- monopoly output, Pm- Monopoly price From the above illustration, the natural monopoly will endeavor to maximize profits at output and price by achieving a level where marginal revenue equals marginal cost. From the above diagram, the red shaded area represents the supernormal profits while the blue area represents the deadweight welfare loss in a competitive market structure. Fig (2): Economies of scale Source: Tejvan (2016) From figure 2 above, it is illustrated that if a firm produces at Q2, the average cost will be AC2. Therefore, a monopoly can increase the output to Q1 in order to draw benefit from lower average cost (AC1). Therefore, the conclusion is that it is more economically efficient to have a monopoly in high fixed cost industries as opposed to having several smaller firms. Advantages and Disadvantages of Natural Monopoly The economic theory holds that everyone is motivated by self-interest (Thoma, 2014). This simply means that everyone is assumed to be more focused on self-preservation. Applying this theory to a natural monopoly, one would then argue that a monopoly is likely to be focused on improving its products and where possible lower costs. Due to the advantage of supernormal profits, a natural monopoly is able to invest in research, development and technology to achieve its objective. By being able to reap the benefits of such investment, firms are provided with the incentive to do further research and development and to patent their ideas. This mutually benefits the firm, the market and the economy (Agarwal, 2017). The other advantage is that from the economies of scale, increased output translates into decreased production costs and this can ultimately be beneficial to the consumer in the form of low prices and quality. On the down side, a monopoly market structure is likely to focus on profit maximization by producing lower output and charging high prices. This is likely to result in a deadweight welfare loss and a decline in surplus as illustrated in Figure 1 above. The high prices may result in allocative inefficiency and supernatural profits and ultimately, it is the consumer who will lose. Further concerns include the fact that as a monopoly gets bigger, it may experience lower average costs (Agarwal, 2017). Price Regulation As noted earlier in the introductory part of this research, natural monopolies present regulatory dilemmas to the government. This is so because there is the concern that where there are two or more firms, the firms will either merge or one will fall and the consequences are that there will be no competition in the market as idealized for a perfect market setup or alternatively, if the two firms continue parallel operation, there will be a high cost of production which will consume more resources and lead to inefficient operative standards. From the foregoing, it is therefore imperative that only one firm can operate as a natural monopoly in certain industries, some of which were identified earlier. The challenge with this market structure is that an unregulated monopoly will certainly strive to live by the profit maximization rule which might result in undesirable outcomes such as allocative inefficiency. It is for these reasons that the need for government intervention will be necessary in the form of regulation. This can be achieved by employing direct controls as the most viable mechanism of regulation (Arnold, 2008). Below is a discussion of some of the regulatory options that are adopted to keep natural monopolies in check: Price Caps or Ceilings Stigler (2008) argues that regulators should be allowed latitude to set prices at levels likely to induce productive and allocative efficiency. If the government is concerned about getting the right product quantity to the right number of consumers and maintaining allocative efficiency, it will have to set a price ceiling for the particular product or service to ensure the price of the product equals the marginal cost of the monopoly firm. However, if this cap is below the firms average total cost (as it is in most cases) it would mean that the firm will suffer loses and may eventually shut down. To avoid such a scenario, the government would set a price cap at the level where the price equals the average total cost. This ensures that the firm will only earn a normal profit, enough to keep it a going concern and this is referred to as the fair-return price (Welker, 2013). Price Discrimination Simshauser Whish-Wilson (2015) argue that it is demonstrated that allocative efficiency can be enabled by charging consumers different prices even when production and supply costs remain constant. This approach employs the Ramsey pricing method which, taking into account the price elasticity of goods, allows for the setting of the price closer to the marginal cost. However, caution must be taken to avoid predatory discrimination through severe prices. Peak-load Pricing In the economic world, there arise variances in demand and supply. The theory of demand and supply is alive to the fact that at certain periods, demand is likely to be high and low during others, which in turn affects supply. Peak-load pricing can be used to attain marginal cost pricing during such periodic cycles. The idea is that since marginal cost increases with the output, the variation of price creates an opportunity for it to reflect the high costs, the demand cycle can therefore be moderated and capacity used more effectively (MBASkool.com, 2008). Conclusion In sum, it is agreed that natural monopolies present regulatory dilemmas to the government which must be navigated to maximize on the economies of scale. Without regulation, a natural monopoly will endeavor to maximize profits at output and price by achieving a level where marginal revenue equals marginal cost. This, at the very least, is likely to result in a deadweight welfare loss and a decline in surplus. Conversely, the high prices may result in allocative inefficiency and supernatural profits and ultimately, it is the consumer who will benefit least. The lack of competition in natural monopoly (and the fact that it would be productively inefficient to have two firms operating in a natural monopoly) leaves the firm with the latitude conduct its business with the aim of profit maximization. It is for these reasons that the need for government intervention will be necessary in the form of regulation which must be in the form direct controls as the most viable mechanism of regulation as opposed to competition. The various modes of price regulation include price caps or ceilings, price discrimination and peak-load pricing as discussed in detail above. Besides price setting, the readers are encouraged to explore other alternatives to price setting as a mode of regulating the monopoly industry. These include the contestable market theory which states that string constraints are exercised by an incumbent monopoly where there is a threat of a potential entrant and thereby, pricing is more likely to be maintained closer to cost. Other options include entry regulation, auctioning and public ownership of monopoly firms (Moszoro, 2014). Bibliography Agarwal, P. (2017).Monopoly Market Structure.Intelligent Economist. Retrieved 30 August 2017, from https://www.intelligenteconomist.com/monopoly-market-structure/. Arnold, R. (2008).Microeconomics(8th ed., pp. 213-216). Thomson Learning Inc. MBASkool.com. (2008).Peak Load Pricing Definition | Operations Supply Chain Dictionary. MBA Skool-Study.Learn.Share. Retrieved 30 August 2017, from https://www.mbaskool.com/business-concepts/operations-logistics-supply-chain-terms/2084-peak-load-pricing.html. Minamihashi, N. (2012). Natural monopoly and distorted competition: Evidence from unbundling fiber-optic networks. Retrieved 30 August 2017, from https://www.bankofcanada.ca/wp-content/uploads/2012/08/wp2012-26.pdf. Moszoro, M. (2014).PublicPrivate Monopoly. Retrieved from https://www.bris.ac.uk/media-library/sites/cmpo/migrated/documents/marianmoszoro.pdf. Opentextbc.ca. (2016).How a Profit-Maximizing Monopoly Chooses Output and Price | Principles of Economics.Opentextbc.ca. Retrieved 30 August 2017, from https://opentextbc.ca/principlesofeconomics/chapter/9-2-how-a-profit-maximizing-monopoly-chooses-output-and-price/. Opentextbc.ca. (2016).Regulating Natural Monopolies. Opentextbc.ca. Retrieved 30 August 2017, from https://opentextbc.ca/principlesofeconomics/chapter/11-3-regulating-natural-monopolies/. Riley, G. (2015).Explaining Natural Monopoly. Tutor2u. Retrieved 30 August 2017, from https://www.tutor2u.net/economics/reference/natural-monopoly. Simshauser, P., Whish-Wilson, P. (2015). Reforming reform: differential pricing and price dispersion in retail electricity markets.AGL Applied Economic and Policy Research Working Paper,49. Retrieved 30 August 2017, from https://aglblog.com.au/wp-content/uploads/2015/07/No.49-Price-Discrimination.pdf. Stigler, G. (2008).Monopoly: The Concise Encyclopedia of Economics | Library of Economics and Liberty.Econlib.org. Retrieved 30 August 2017, from https://www.econlib.org/library/Enc/Monopoly.html. Tejvan. (2016). Diagram of Monopoly. Economicshelp.org. Retrieved 30 August 2017, from https://www.economicshelp.org/microessays/markets/monopoly-diagram/. Tejvan. (2016). Regulation of monopoly. Economicshelp.org. Retrieved 30 August 2017, from https://www.economicshelp.org/microessays/markets/monopoly-diagram/. Thoma, M. (2014).What's so bad about monopoly power?Cbsnews.com. Retrieved 30 August 2017, from https://www.cbsnews.com/news/whats-so-bad-about-monopoly-power/. Welker, J. (2013).Monopoly prices to regulate or not to regulate, that is the question!Economics in Plain English. Retrieved 30 August 2017, from https://welkerswikinomics.com/blog/2013/03/04/monopoly-prices-to-regulate-or-not-to-regulate-that-is-the-question/.