Leisure Industry Competition Essay

1. Discuss using examples from a leisure industry of your choice, the extent to which competition creates efficiency. There are many ways in which a firm or leisure industry can be considered to be efficient. First of all they may be productively efficient. This is where they would be operating at their lowest average cost, meaning they are benefiting from all economies of scales and experience no diseconomies of scale. They particularly must avoid any waste of factors of production. Allocative efficiency exists when the firm is operating where Price is equal to Marginal Cost. When a firm or industry is allocatively efficient this means they are producing what society wants and allocating resources to increase both output and quality. This may be in the form of specialisation. If dynamic efficiency exists this means that the firm or industry is experiencing abnormal profit. Their aim must always be to increase output in the future often by investing in research and development, such firms are often benefitting from monopoly power. Pareto efficiency is where production of one good can increase without the production of another decreasing. I believe that increased competition will create productive efficiency. This is because if there is increased competition through an increase in the supply of for example entertainment channels entering the TV broadcasting industry this will result in firms having the reduce their prices of advertising slots due to the potential fall in the number of viewers. This will mean that they are now price takers in the market and as a result their revenue will decrease. As the firms are profit maximisers they will be unsatisfied with their revenue falling and as a result they will need to reduce their average cost in an attempt to maintain their previous profit level. They will reduce their average cost by avoiding any waste of factors of production in the production of the good/service and in order to do so they will often reduce their output of any new television programmes as there is a potential that they may be unsuccessful and as a result viewers will often see an increase in the numbe r of repeats of television programmes. They will also decrease their output of new programmes in order to stop any potential diseconomies of scale and improve communication in the production of their good/service. Therefore at this point I believe that in  the leisure industry firms such as ITV have become more productively efficient as a result of increased competition. Some firms also have the ability to attain economies of scale. An example would be SKY who obtained technical economies of scale by the introduction of 3D and HD boxes, and purchasing economies of scale by the purchase of previously unavailable channels and programmes such as HBI and the FA cup. Attaining these economies of scale reduced SKYs average cost leading to them being more productively efficient. This further backs up my point that increased competition does result in greater efficiency. However, it could be argued that this is dependent upon the scale of competition. For example, when Channel 4 and Channel 5 first entered the market this was not the case, meaning efficiency did not increase. However, as these channels have become more well established this is now the case. One could also argue that this is also not the case for the BBC due to the fact that they are funded by the Government and do not compete on price. The BBC is a public monopoly but they are certainly not efficient. The BBC is not cutting costs in order to become more productively efficient; the Government is reducing their funding therefore this has created the need for the company to be more productively efficient. They are doing this in a number of ways such as moving production from London to Manchester as it is cheaper and therefore will reduce their costs. Therefore increased competition is not the factor that is causing the BBC to become more productively efficient – Government intervention is. This leads me to the conclusion that the greater the number of firms the more likely they are to increase productive efficiency. But increased competition is not the only factor; government intervention must also be considered. In the leisure industry there is always a need for Travel Agents to be allocatively efficient, this is because it is vital that they produce what society wants. If it was the case that certain Travel agents were not providing the holidays that consumers wanted this would simply result in holiday makers going elsewhere. This is especially the case at present because barriers to entry/exit have decreased meaning new firms are entering the market all of the time due to improved communication. This has increased competition mainly due to the internet as many travel agents and comparison websites have set up online to compare the best deals, which increases the  power to the consumer as they are no longer required to visit the main four travel agents. This has resulted in a greater need for travel agents to avoid mis-allocation of their resources by decreasing the number of planes and destinations. This is because if they do not allocate their holidays to societies needs their Marginal Cost will increase above their price. Therefore increased competition leads to an increase in the need for firms to allocate resources to what society needs and ensure that they are increasing their quality and output to become allocatively efficient. We have established that increased competition will inevitably result in increased output; however it will also increase external costs. For example in eco tourism, if output increases in visits to the rainforest this will cause a major increase in the number of negative externalities. Therefore in this case it would be beneficial to decrease the output of such visits in order to reduce negative externalities. In fact I would argue that a monopoly provider of eco tourism holidays would be the most beneficial for the environment as they might produce holidays at the social optimum level. Taking these factors into consideration I strongly believe that increased competition will force firms to think about how they can allocate resources efficiently but sometimes at a social cost. With SKY benefiting from technical economies of scale it could also be argued that by investing in HD and 3D boxes this has also allowed them to become dynamically efficient as their abnormal profits allow them to invest in research and development which allows them to increase output in the future with the same factors of production inevitably leading to monopoly power. This benefits consumers as they are able to consume greater output in the form of 3D and HD programmes or a wider range of channels in the future without the needed for greater factors of production. However, I could argue that this is not in fact them demonstrating greater efficiency as a result of increased competition but rather creating even more barriers to entry for other firms wishing to compete with them in the broadcasting market. It also could be questioned as to how much of their abnormal profits are actually being invested into research and development as I am aware that the majority of their profits goes to shareholders. Therefore I am led to believe that although theoretically SKYs monopoly power and the lack of competition they  face gives them the opportunity to be dynamically efficient; in reality it is questionable as to what will drive competition in the future. Although it could in fact be more competition that will drive future efficiency and not the abnormal profits of just a few firms. I strongly believe that increased competition is most likely to result in efficiency in the travel market as there are little barriers to entry that current travel agents are able to put up in order to stop competition affecting their profits. This is mostly due to the fact that the internet has allowed many new companies to set up online giving consumers the opportunity to compare prices directly; therefore increasing the need for travel agents to be allocatively efficient making the statement true. However I accept some may argue that if a firm is being allocatively efficient at a social cost they should not be considered to be allocatively efficient and therefore my judgment could be questioned. On the other hand when firms are not competing on price, like for example the BBC, an increase in competition is not likely to result in them becoming more efficient as decreasing their average cost is not likely to be a priority but instead they are more likely to need to increase the quality of their good or service. In theory I believe that the best way to ensure efficiency in the future is to invest in R+D (creating new barriers to entry like SKY) and the way to get firms to do this is increased competition. In reality this may result in negative externalities or potentially abuse of monopoly power and monopolies may often end up being inefficient in the long run.

Scheduling Management in Tunnel Construction Projects Literature review

Scheduling Management in Tunnel Construction Projects - Literature review Example 45). Scheduling management Scheduling management is very important to any project because it entails helpful techniques applicable while managing activities involved in projects. Managers practice scheduling management before starting up a project, which involves. Pointing out the task that interests an individual, estimating the total period that the task will take, and distributing resources needed to perform that task, finally deciding on when the task will commence. In the procession of a project, monitoring is important as it ensures that scheduling management predicts the future of a project. An effective scheduling management helps the project administrator to ascertain that a project is within the expected cost, time and certain standards of quality (Kerzner, 2009, p. 47). Scheduling management techniques There are two types of scheduling management techniques applied in projects in order to enhance efficiency. These techniques include the Milestone chart and the Gantt chart. In projects, Milestone chart is very imperative as it identifies vital events that occur during the implementation of a project, it usually reflects critical issues in a project, which without controlling on time will lead to delays in a project. Milestone chart is very reasonable about deadlines as it entails installation of equipment, changes in a new system, completion of systems and file conversations. However, Gantt charts occur either in a horizontal bar shape or as a line chart and it indicates the activities that the project entails written in the left hand side of the chart. In addition, it contains the time scale of a project indicated at either the top or bottom of the chart, a line drawn showing the project’s estimated period and another line showing the dependencies among the project activities and the time used (Kerzner 2009). According to the construction industry, Gantt chart represents a scientific method of management that helps individuals to break down th e processes involved in projects. This chart divides a whole project into distinct task, methods of performing the tasks, cost and time spend on the task, and finally it monitors the entire project (Kerzner 2009). Steps for better scheduling management In order to come up with a successful project, it is important for project managers to observe the following scheduling management steps. Firstly, managers should implement a scope letter entailing the price of a project, which will be of benefit while negotiating for project schedule. Secondly, they should make a worksheet and compare it with the one provided by the contractor of the project; managers should also make notes indicating the commencement date of a project and when it will end. Managers should ensure that they recheck for logic problems in their work before they proceed because errors resulting from logic leads to poor projects. The project schedule should include separate person-hours allocated for each task in order to make it detailed and organized. The manager should carry out resource loading to ensure equal allocation of resources and tasks within a given time. Later, he/she should determine the total resources desirable in performing the project

Relationship Literacy Article Essay Example | Topics and Well Written Essays - 1000 words

Relationship Literacy Article - Essay Example Fundamentally speaking, most forms of abuse originate for the abuser, as a learned behavior. In fact, most abusers were in fact abused themselves as children in the case of either sexual, physical or emotional abuse. When this type of behavior is exhibited to children and youth as a ‘normal’ means of interacting, the individual then proceeds into their future social interactions with the ideology that abusive behavior is not only acceptable but also normal. By implementing relationship literacy on an early childhood educational level and on through the adolescent years, individuals will be more readily equipped with the social and moral tools to properly interact with others throughout their life. This is a two fold process. By teaching and modeling proper human interaction within the school system, children will certainly have a comprehensive understanding of what is socially expected of them as a member of society. Furthermore, the rule of no tolerance towards school v iolence, verbal threats and abuse and sexual forms of abuse; will further instill within children a sense of accountability and consequence. The question of where to begin the approach to relationship literacy training can be answered by approaching the topic where it is most needed. In fact, the origin of the program began in inner city environments, ten years ago, with an approach to anger management as well as an emphasis on the overall importance of personal relationships and healthy social interaction. In so many cases, violence and abuse prevail simply because so many are not equipped with proper mechanisms of dealing with anger and conflict. By placing emphasis on virtues such as sympathy and apathy, programs offering relationship literacy training can prepare children and youth for future appropriate and healthy relationship interaction. With the growing need to address national

MBA Essays Essay Example | Topics and Well Written Essays - 2000 words

MBA Essays - Essay Example I proposed a plan to Greenline, an environmental NGO that I deal with awareness campaigns. The plan was to clean the sandy beach using shovels and placing sponges to prevent oil in the sea from returning onto the sand. I coordinated with Greenline’s VP to secure the sponges and shovels, and contacted the Red Cross and schools’ community service groups to help. With more than 50 volunteers, we were able to clean 5 km of Beirut shoreline. As the news spread, more people joined arms, cleaning additional 15 km of shoreline. â€Å"You will not inherit anything, only education.† This was my father’s often-repeated phrase. My siblings and I faced limited prospects due to our family’s financial situation and even dimmer prospects while in countries like Lebanon. The only way forward was through a top-notch education, which I had benefited from via a merit scholarship. I wanted to maximize my siblings’ chances of following my path. My youngest sister, Rula, had demonstrated high academic potential although the best education available at the American University of Beirut was beyond my parent’s financial capabilities. My sister however succeeded in her admission and I decided to finance her education. The decision meant many things at a personal level; it meant selling my car, and reducing the outings and other expenditures that are appropriate for man in his mid-twenties. Career wise, it meant taking up overtime and delaying my postgraduate plans for a year. Rula’s motivation and hard work paid off. She is soon to graduate from AUB before joining a private equity firm in Qatar. I know her life and surroundings will be changed for the better and I hope in some ways that I passed our father’s legacy to her. I was hired amongst a team of four by Etisalat, the national telecom operator in the United Arab Emirates, to propose the next generation Information, Communication, & Technology (ICT) policy

Racial Harassment Article Example | Topics and Well Written Essays - 500 words

Racial Harassment - Article Example   According to the Giuffre and Williams study (1994), one of the four contexts in which the respondents identified actions as being examples of sexual harassment reinforces the idea of dominance as it refers to the exploitation of a powerful position for personal gain. In a situation in which the majority race controls many of the lucrative and influential social positions, racial harassment might be seen as being used to reinforce that dominant position. It highlights the fact that the harasser is in a position to get away with actions that are unfair because of his membership of the majority and powerful race. The psychological effect of this on the victim is great. Researchers have been examining the connection between post-traumatic stress disorder and the effects of racial harassment on the victim. Racial harassment has been considered by some of these psychologists as an injury that behaves like a disorder (Carter, 2003). When reinforcing words by a member of the powerful maj ority are used in a situation in which the subordinate position of the victim is already evident, the harassment has the violating effect of legitimizing the victim’s subordination and making him or she feel that the unjust relationship between the races is the correct one. In this way, racial harassment certainly exposes its usefulness in keeping the subordinate group in mental and physical subjection to the oppression of the dominant race. Another of the four contexts in the Giuffre and Williams study (1994) depicted racial harassment in which a member of a minority racial group harassed a member of the majority group. This offers a new perspective on the topic, because it seems to demonstrate a situation in which racial harassment occurs not as an attempt by the dominant race to keep the subordinate one submissive, but rather as a (possible) reaction by a member of the subordinate race to the oppressive nature of the race relations in his or her environment. This can be seen in the case of a minority man’s harassing a white woman.

Electronic Commerce (Frank Sissons LTD) Essay Example | Topics and Well Written Essays - 4000 words

Electronic Commerce (Frank Sissons LTD) - Essay Example At Franke-Sissons Ltd, the company has fully integrated internet technologies as a business strategy by adding the latest ICT architecture to develop a full-fledged website that has an online E-commerce facility enabling online transactions and marketing facilities. The Franke-Sissons Ltd website has also started an online order tracking system that enables clients keep abreast of the movement of their purchases (Franke Sissons, 2009). Franke Sissons Ltd is a UK based European stainless steel sanitary and catering equipment manufacturer. It was started in Sheffield, UK in 1784 as the W & G Sissons Ltd dealing exclusively in sanitary equipment [see Appendix Figure:7]; it merged with Swiss Franke WSS family group in 2002 to becoming Franke Sissons Ltd (2007) adding catering ware to its catalogue [see Appendix Figure:8]. The company employs over 100 staff with most of them engaged within the production division the firm specialising in complimentary sanitary and catering products that are retailed internationally (Franke Sissons, 2009). The term E-commerce has been simply defined as ‘doing business electronically’ (Timmers, 1998). Andam (2005) however defines electronic commerce as ‘The transformation of an organization’s processes to deliver additional customer value through the application of technologies, philosophies and computing paradigm of the new economy’ (Pg. 7). Andam (2005, Pg.5) argues that electronic commerce has levelled the playing field in marketing for goods and services whereby with skilful careful approach, small and medium scale enterprises are able to compete efficiently with the larger more established enterprises. According to a Forrester Research estimate, global e-commerce trade for 2008 stood at $204 billion with a projected growth of up to $335 billion by 2012 [see Appendix Figure: 6]. Within

Purposes of police patrol Research Paper Example | Topics and Well Written Essays - 500 words

Purposes of police patrol - Research Paper Example Purposes of police patrol Knowledge about the neighbourhood is the essence of every police patrolling function. â€Å" Knowledge about the physical structure of the neighbourhood, Boundaries and adjoining areas, Alleys, Businesses, Layout of streets, dead end streets, geographical directions† etc would enhance the patrolling functions very much. â€Å"Foot Patrol, Motorcycle Patrol, Motorized Patrol, Bike Patrol, Horse Patrol, Aircraft Patrol, Watercraft Patrol, Routine Patrol, Directed Patrol, D-Runs, Saturation Patrol, Split Force, Suspect-Oriented Patrol† etc are some of the most common patrolling programs undertaken by police force. Increased probability of accidents is the major issue in high speed pursuits. â€Å"Research from the 1980s indicates that nationwide property damage occurs in about one of every five pursuits, personal injury in one out of seven, and death in approximately one out of every thirty-five pursuits†. Moreover increased rate of law suits against the patrolling officers is another issue associated with high speed pursuits. It should be noted that in high speed pursuits, the possibility of causing damages to the innocent people is more. Casualties in the form of death and injury can occur to the innocent people while the police officers chase criminals at a high speed using different types of vehicles. â€Å"California police chased more than 7,000 drivers in 2003. The chases resulted in 58 deaths, including 18 innocent individuals who werent involved in the pursuit".