Healthcare Finance - 685 Words

Cinema 101 Monday May 27, 2014 Growing Apart: Distance and Loss in Citizen Kane Citizen Kane (Orson Welles, 1941) is an American drama film that narrates the story of a newspaper magnate who gained worldly success in his life, but he lost connection with people around him during this process. With the help of a series of flashbacks, the film illustrates Kane’s personal life. The film starts with the scene where Kane is on his deathbed and says the word ‘Rosebud’ before dying. A newspaper reporter, Thompson gets intrigued by this word, which becomes the motivation for him to learn about the life of Charles Foster Kane and the significance of the word ‘ Rosebud’. The director, Orson Welles depicts the personal life of Kane beautifully in†¦show more content†¦This shows that she wanted to be happy and not alone solving puzzles. Later in another scene, Susan was seen solving another jig-saw puzzle, when Kane entered the room. This time, the distance between the two was increased as Susan was on the floor near the fireplace a nd Kane went on to sit at a chair further in the room. In this scene also, statues in the room had a presence more than the characters in the film, which again shows the love Kane had grown for material things. The distance Kane was growing with Susan can also be observed from the way Kane disregarded her solving puzzles when compared to himself collecting statues. During the entire sequence, Susan was seen in very expensive and lavish clothing, but she wasn’t happy with that. Also, this did not increase any affection Kane had towards her. Welles used mise-en-scenes to display the importance of statues over people. The camera angles used in this sequence can also be considered to be almost perfect as these conveys the message the director wants to convey totally to any kind of audience. Finally, at the end of the sequence, Kane asks his wife to go out with him for a picnic, which she does but doesn’t seem to be happy with that. The last scene of the sequence shows Kane and Susan sitting next to each other in a car, but both of them do not seem to be excited about going for the picnic as they do not talk to each other. WellesShow MoreRelatedHealthcare System The Role Of Finance1584 Words   |  7 Pages In Healthcare System the role of finance is an important aspect in healthcare. In the financial role of healthcare it involves handling operations such as negotiating contracts, making cash available for expenses such as payroll and cover cost for unexpected expenses. The role of finances also makes it capable for leadership to better make plans for the future, when finances are in order organizations can better equipped to make decisions such as is the organization financial able to expandRead MoreFinances in Healthcare764 Words   |  4 PagesFinances in healthcare HCA340: Managing in Health Human Services Instructor    January 14, 2012 Examine the financial characteristics of health care delivery along with managing costs, revenues, and human resourcesRead MoreHealthcare Utilization And Finance : Organizational System And Quality Leader1082 Words   |  5 Pages Healthcare Utilization and Finance Organizational System and Quality Leader Task 3 Sherline Moise Western Governors University A.1) I choose the Great Britain healthcare system from the given list to compare to the U.S healthcare system. A.2) The united state health care system is the most expensive health care system around the world; this is why about 47 million people are without coverage because they cannot afford it. There many Americans’ who are inRead MoreHealthcare Finance Chapter#9 Answers Essay1221 Words   |  5 PagesFinancial Condition Analysis, Chapter 9 Problems: P 9.1-9.4, 9.8 amp; 9.11 HM 707 Health Management Foundations II Problem 9.1 Find the following values for a lump sum assuming annual compounding: a) The future value of $500 invested at 8 percent for one year: FVN = FV1= PV Ãâ€" (1 +I)N = $500 x (1 + 0.08) = $500 x 1.08 = $540 b) The future value of $500 invested at 8 percent for five years: FVN = FV5= PV Ãâ€" (1 +I)N = $500 x (1 + 0.08)5 = $500 x (1.08)5 = $734.66 c)Read MoreHealthcare Finance1518 Words   |  7 Pagesand accessible health care, the government has stepped in. The Patient Protection and Affordable Care Act (PPACA), is a United States federal statute signed into law by President Barack Obama on March 23, 2010. The goal of the healthcare reform is to make healthcare more affordable and accessible to all American citizens. This package will cost roughly $940 billion over 10 years to provide expanded insurance coverage, according to Congressional Budget Office. The plan is expected to reduce theRead MoreEssay on Healthcare Finance1236 Words   |  5 PagesHEALTHCARE FINANCE Student name Healthcare Finance course code April 28, 2011 Healthcare Finance Problem 5.1 Break-even analysis helps to plan and control business by showing break-even point, net profit and net loss areas. As it is mentioned in the graph below, on the break-even point cost is equal to revenue which means there is neither loss nor profit at the intersection of sales line and cost line (Frongello). a) As two graphs are provided in the question; the horizontalRead MoreCases in Healthcare Finance4276 Words   |  18 PagesThis is a sample of the instructor resources for Cases in Healthcare Finance, Fourth Edition by Louis Gapenski. This sample contains the case questions, case solutions, instructor model, and PowerPoints for Chapter 4. The complete instructor resources consist of 268 pages of instructor’s notes including case questions and case solutions; instructor model spreadsheets; and 623 PowerPoint slides. If you adopt this text you will be given access to complete materials. To obtain access, e-mail yourRead MoreDifference Between Healthcare Finance Terminology And Business Finance Essay1474 Words   |  6 PagesThe major difference between healthcare finance terminology and business finance terminology is that these terms focus on factors unique to the health services industry. For example, the provision of health services is dominated by not-for-profit or ¬ganizations (such as ours), which are inherently different from investor-owned businesses. Also, the majority of payments made to health ¬care providers for services are not made by patients—the consumers of the services—but rather by some third-partyRead MoreMajor Difference Between Healthcare Finance Terminology And Business Finance Essay1480 Words   |  6 Pages Overview of Healthcare Finance Final Project â€Æ' The major difference between healthcare finance terminology and business finance terminology is that these terms focus on factors unique to the health services industry. For example, the provision of health services is dominated by not-for-profit or ¬ganizations (such as ours), which are inherently different from investor-owned businesses. Also, the majority of payments made to health ¬care providers for services are not made by patients—the consumersRead MoreEssay on Healthcare Finance Chapter 1 and 22348 Words   |  10 Pages1- Question and Answers 1.1 a. What are some of the industries in the healthcare sector? Some of the industries in the healthcare sector are health insurance, pharmaceuticals and biotechnology, medical equipment and supplies and health services. Others include education institutions, government and private research agencies. b. What is meant by the term healthcare finance as used in this book? Healthcare finance is a term used in this book to describe accounting and financial management

The Renaissance And The Renaissance - 796 Words

The transition from the middle ages to the renaissance drastically changed art, culture, and the common worldview. The middle ages were viewed in a negative connotation as far as art and music goes. It was a religious time, focusing on God above all else unlike the renaissance. The renaissance brought about works of Michelangelo, Da Vinci, and Raphael. It brought about an appreciation of humanism and secularism along with the renewal of the ancient Greeks and Romans. Causes of a shift from focusing on God to focusing on mankind include the crusades, the immorality in the church, the black death, along with all other aspects that lead to the middle ages being called the dark ages. Italian port cities grew wealthy during and after the†¦show more content†¦Constitutionalism was coined by John Locke as believing that man is capable of ruling himself and creating governments to aid that. Hobbes wrote the book Leviathan to define absolutism. Absolutism can be divided into two subc ategories, domestic right and theoretical. Domestic right is the belief that God gave the king his title and he should have no parliament due to the fact that he has been placed in power by God. Theoretical absolutism is the less radical belief but with the same principles. The application of reason to all areas of life; this is the definition of Enlightenment during a time of new culture, politics, and intellectual trends. This led to multiple revolutions such as the War of the Austrian Succession, the 7 years War, and even the American Revolution. Famous figures that encouraged these ideals were those such as Voltaire, (who was coined as the philosopher of enlightened despotism-the belief that the past is irrelevant and that the person in charge is solely there because they are superior), Diderot, Rousseau, and even Jefferson Leading up to the French Revolution, France was a country full of unrest. There were financial troubles brought on by taxation and the American Revolution and the taxation issues. There was a power struggle between the aristocracy and the monarchy, and the growing tension in the third estate. Events such as the Oath of Tennis Court, the storming of Bastille, the National Assembly, etc. were the beginning phasesShow MoreRelatedThe Renaissance, Renaissance And The Renaissance Period775 Words   |  4 Pages Renaissance is a time period that starts a transitional cultural movement in Europe between medieval times and modern times. It means rebirth and begins in 14th century and lasts into the 17th century. Through out this time, many aspects were influenced by this cultural movement, such as art, music, science, religion and politics. Renaissance was marked by the humanistic revival, and people in Europe used this method in study, in order to searched for realism and human thems elves in art.Read MoreRenaissance Art : The Renaissance And The Renaissance852 Words   |  4 PagesThe Renaissance, better known as the â€Å"rebirth â€Å"period helped bring life back to culture and the arts. It was a movement that began in Florence, Italy, but eventually spread throughout Europe. It stemmed from a very dark period in history. Prior to the Renaissance, Europe experienced the Medieval Times, or Dark Ages, a time of war famine, and disease. There were many causes of the Renaissance such as â€Å"The Black Death† and the new idea that social class does not dictate your wealth. The RenaissanceRead MoreEarly Renaissance : Renaissance And Renaissance Essay1099 Words   |  5 PagesEarly Renaissance is the period from the Gothic of the late Middle Ages to the late 15th, approximately from 1418 to 1495. The architects in that period created an architecture of mathematical perfection and maintained that God’s cosmic order could be expressed through such mathematical proportions. They also had interests in geometry and considered square and circle as â€Å"ideal forms†. Both of the ideas became the crucial elements of the architecture in both Early Renaissance and Mannerism. EarlyRead MoreRenaissance : The Renaissance1049 Words   |  5 Pagesleft in the dark, until a flicker of hope emerged offering a new beginning: the Renaissance. The Renaissance lasted from the 14th to the 17th century and was an era of â€Å"rebirth† in European history. During this period, culture throughout Europe underwent a dramatic reformation where classic learning and Greco-Roman beliefs were reintroduced. Italian art in particular encountered a major change in which new Renaissance ideas were skillfully demonstrated and incorporated. In artists’ work, humans wereRead MoreThe Italian Renaissance And The Renaissance1424 Words   |  6 PagesThe Italian Renaissance was an explosion of art, writing, and thought, that roughly lasted b etween 1300 to 1600. In this time each citizen, countrymen, or villager had and performed different jobs and careers. Humanism the study of Greek and Roman writings, art, and architecture, initially jump started the Renaissance, and the need for art. Artists now were inspired to use life like art and linear perspective, so art seemed and was more realistic. The start of the Italian Renaissance was the startRead MoreEarly Renaissance And The Renaissance1205 Words   |  5 PagesEarly Renaissance to High Renaissance The Renaissance is the period that immediately follows the Middle Ages in Europe ancient Rome and Greece. Growing prosperity and reduction in political stability accompanied by new technologies, the printing press, astronomy and the exploration and discovery of new continents was supplemented by a blossoming of philosophy, literature, and art. Painting style, decorative arts, and sculpture arose in Italy in the 14th century, reached its peak in the late 15thRead MoreRenaissance And Discovery Of The Renaissance4916 Words   |  20 PagesChapter 10 Outline: Renaissance and Discovery The Renaissance in Italy Jacob Burckhardt, a Swiss historian, described the Renaissance as the â€Å"prototype of the modern world† in his book Civilization of the Renaissance in Italy (1860). People became to approach the world empirically and draw rational conclusions based on observation. Burckhardt saw the emergence of the modern world emerge from that of the pre-modern, or medieval, period. Some criticize Burckhardt for overlooking the continuity betweenRead MoreRenaissance Humanism : The Renaissance1209 Words   |  5 PagesRenaissance Humanism The renaissance is by its definition a rebirth of the classical methods of the ancients (Dictionary.) Through the study of the text and the artwork that defined this period we are able to see the transition from a dark, apocalyptic world, to a reinvigorated and bright new era which was dominated by titan of artistry such as Donatello. Because Italy was so well situated in a land that was formally the Roman Empire, and its economic links to lands of heavy Greek influence RenaissanceRead MoreRenaissance And The Italian Renaissance1396 Words   |  6 PagesThe Italian Renaissance had two distinct periods during its lifetime. The first being the â€Å"Early Renaissance†, which took place between the late 13th and the early 14th centuries. The second period was known as the â€Å"High Renaissance†, which took place during the 15th and 16th centuries. These two periods had very distinct foundations and styles behind the art and architecture of their respective periods. The E arly Renaissance revived many old themes which later became the foundations for the HighRead MoreThe Renaissance And Italian Renaissance961 Words   |  4 Pages The Renaissance (rebirth), was a time in which all art became more personalized and represented more than we see. There were two major stages in the Western European/ Italian Renaissance: Early Renaissance and High Renaissance. It gave patrons a new outlook on art and the world. Styles such as Mannerism, Fresco, and Parietal help advance art in western Europe. Most of the Renaissance works were religious,or had had something to do with the ancient times (ancient greece and roman culture). Not only

How to Use Sociology to Counter Claims of Reverse Racism

A former student recently asked me how one can use sociology to counter claims of â€Å"reverse racism.† The term refers to the idea that whites experience racism due to programs or initiatives that are designed to benefit people of color. Some claim that organizations or spaces that are exclusive to say, black people or Asian Americans, constitute â€Å"reverse racism,† or that scholarships open only to racial minorities discriminate against whites. The big point of contention for those concerned with â€Å"reverse racism† is Affirmative Action, which refers to measures in applications processes for employment or college admission that take race and the experience of racism into account in the evaluation process. To counter claims of â€Å"reverse discrimination,† let’s first revisit what racism actually is. Per our own glossary definition, racism serves to limit access to rights, resources, and privileges on the basis of essentialist notions of race (stereotypes). Racism can take a variety of forms in achieving these ends. It can be representational, manifesting in how we imagine and represent racial categories, like in costume at â€Å"Ghetto† or â€Å"Cinco de Mayo† parties, or in what kinds of characters people of color play in film and television. Racism can be ideological, existing in our world views and ideas premised on white superiority and the presumed cultural or biological inferiority of others. There are other forms of racism too, but most important to this discussion of whether or not affirmative action constitutes â€Å"reverse racism† are the ways that racism operates institutionally and structurally. Institutional racism manifests in education in the tracking of students of color into remedial or special ed courses, while white students are more likely to be tracked into college prep courses. It also exists in the educational context in the rates at which students of color are punished and reprimanded, versus white students, for the same offenses. Institutional racism is also expressed in biases teachers reveal in doling out praise more so to white students than to students of color. Institutional racism in the educational context is a key force in reproducing long-term, historically rooted structural racism. This includes racial segregation into poor communities with underfunded and understaffed schools, and economic stratification, which overwhelmingly burdens people of color with poverty and limited access to wealth. Access to economic resources is a significant factor that shapes one’s educational experience, and the extent to which one is prepared for admission to college. Affirmative Action policies in higher education are designed to counteract the near 600-year history of systemic racism in this country. A cornerstone of this system is undeserved enrichment of whites based on historical theft of land and resources from Native Americans, theft of labor and denial of rights of Africans and African Americans under slavery and its Jim Crow aftermath, and denial of rights and resources to other racial minorities throughout history. The undeserved enrichment of whites fueled the undeserved impoverishment of people of color—a legacy that is painfully alive today in racialized income and wealth disparities. Affirmative Action seeks to redress some of the costs and burdens born by people of color under systemic racism. Where people have been excluded, it seeks to include them. At their core, Affirmative Action policies are based on inclusion, not exclusion. This fact becomes clear when one considers the history of legislation that laid the groundwork for Affirmative Action, a term first used by former President John F. Kennedy in 1961 in Executive Order 10925, which referenced the need to end discrimination based on race, and was followed three years later by the Civil Rights Act. When we recognize that Affirmative Action is premised on inclusion, we see clearly that it is not consistent with racism, which uses racial stereotypes to limit access to rights, resources, and privileges. Affirmative Action is the opposite of racism; it is anti-racism. It is not â€Å"reverse† racism. Now, some might claim that Affirmative Action limits access to rights, resources, and privileges for whites who are thought to be displaced by people of color who are granted admission instead of them. But the fact is, that claim simply doesn’t stand up to scrutiny when one examines historical and contemporary rates of college admission by race. According to the U.S. Census Bureau, between 1980 and 2009, the number of African American students enrolled in college annually more than doubled, from about 1.1 million to just under 2.9 million. During that same period, Hispanic and Latino enjoyed a huge jump in enrollment, multiplying by more than five, from 443,000 to 2.4 million. The rate of increase for white students was much lower, at just 51 percent, from 9.9 million to about 15 million. What these jumps in enrollment for African Americans and Hispanic and Latinos show is the intended outcome of Affirmative Action policies: increased inclusion. Importantly, the inclusion of these racial groups did not harm white enrollment. In fact, data released by the Chronicle of Higher Education in 2012 show that white students are still slightly over-represented in terms of their presence in that year’s freshmen class at 4-year schools, while black and Latino students are still underrepresented.* Further, if we look beyond the Bachelor’s degree to advanced degrees, we see percentages of white degree earners rise as does level of degree, culminating in a stark underrepresentation of black and Latino recipients of degrees at the level of Doctor. Other research has shown clearly that university professors demonstrate a strong bias toward white male students who express interest in their graduate programs, much to the expense of women and students of color. Looking at the big picture of longitudinal data, it is clear that while Affirmative Action policies have successfully opened access to higher education across racial lines, they have not limited the ability of whites to access this resource. Rulings from the mid-1990s that have outlawed Affirmation Action at public educational institutions lead to a fast and sharp drop in enrollment rates of black and Latino students at those institutions, quite notably in the University of California system. Now, let’s consider the bigger picture beyond education. For â€Å"reverse racism,† or racism against whites, to exist in the U.S., we would first have to reach racial equality in systemic and structural ways. We would have to pay reparations to make up for centuries upon centuries of unjust impoverishment. We would have to equalize wealth distribution and achieve equal political representation. We would have to see equal representation across all job sectors and educational institutions. We would have to abolish racist policing, judicial, and incarceration systems. And, we would have to eradicate ideological, interactional, and representational racism. Then, and only then, might people of color be in a position to limit access to resources, rights, and privileges on the basis of whiteness. Which is to say, â€Å"reverse racism† does not exist in the United States.   *I base these statements on 2012 U.S. Census population data, and compare the category â€Å"White alone, not Hispanic or Latino† to the White/Caucasian category used by the Chronicle of Higher Education. I collapsed the Chronicle’s data for Mexican-American/Chicano, Puerto Rican, and Other Latino into a total percentage, which I compared to the Census category â€Å"Hispanic or Latino.†

Art Museum Vs. Private Museum - 1276 Words

Museum Comparison This paper compares four separate museums. The first two compared, are private art museums in the United States, compared to a private art museum in another country. Secondly, a university natural history museum is compared to another university natural history museum in a foreign country. The comparisons involve taking a closer look at the history, function, staffing, and programs at museums. Many reasons can lead collectors to starting a private museum. Whether collectors feel that a collection can serve an educational function, or perhaps to keep control over the collection, a private museum is an option that provides the public access to their work (Traditional Fine Arts Organization). One notable example is†¦show more content†¦The museum has a small staff of eight employees (two positions focused on education) and has an average of two-hundred visitors on a weekly basis (Buchanan 2002). The exhibit changes twice a year and they are considered one of the founders of the Miami art scene (Buchanan 2002). This museum is the Rubell Collection’s main mission and function is to share their vast collection of contemporary art and support emerging artists. They have an active internship program, lecture series, and a partnership with Miami-Dade county schools to support education (The Rubell Collection). The museum also houses a research library with over forty-thousand volumes and a bookstore (The Rubell Collection). In order to share their expansive collections, the Rubells also lend their exhibits to other museums all over the world (Solway 2014). Taking a look at a private art museum in another country, The Pinacotheque in Paris is presented. The Pinacotheque is Paris’s first private art museum and was established in 2007. Pinacotheque loosely translates into the image box (Restellini 2011). The Pinacotheque displays art like the Rubell Collection, but they are not displaying art from one collector, but many collectors. One exhibit included the art collection of two prominent Hungarian families: The Esterhazys and The Romanovs, from the eighteenth century (Restellini 2011). Their mission, like The Rubell Collection, is to make these

Environmental Policies Of China And Brazil - 1651 Words

China and Brazil have developed historically together but why does Brazil have more effective environmental agencies than the China? Both nations are different politically and cultural, however through their developments as nations their environmental policies are having different degrees of success. These countries are partly free, but Brazil has informal institutions including the Catholic Church that affects the political climate and has helped environmental agencies. China and Brazil have historically had similar environmental policy specifically in UN talks. These countries have had their own struggles with their environmental policy trying to have a balance of economic growth and being a sustainable country. It is important examine†¦show more content†¦As a communist state becoming more international acknowledged as a state China had to make major changes as a government and it had to come externally. China â€Å"began to manifest an awareness of environmental problem s in the early 1970’s† (Ross, 810). This was because China had gained a seat in the UN and was working with the U.S during this time. Right before the 1972 Stockholm conference China had created a domestic agency that worked with environmental issues so that they had a voice in the conference. This conference came to the existence of SEPA which had policies with emission permits that was modeled by economically advanced countries such as the U.S (Ross, 812). SEPA was a cost to the state and could restrain a growing economy which was not in China’s best interest. Right before the 1992 United Nations Conference on Environment and Development China and 41 other developing countries made a declaration. This declaration â€Å"acknowledged the need for international co-operation to promote environmental protection and sustainable development while demanding financial assistance† (Ross, 814). This was also mentioned by the top leaders of China that economic dev elopment would reject in any interference with domestic politics for environmental policy (Ross, 814). China eventually reached a deal with a 9 year plan which shows that China is not against environmental

The Concept of Monopoly Business-Free-Samples-Myassignmenthelp.com

Questions: Discuss the characteristics of a Monopoly Market. Answers: The identified essay has been developed to discuss the characteristics of a monopoly market. Precisely, the study provides an extended introduction elaborating monopoly market structure. By defining the concept of monopoly business in a given market, the essay paper thoroughly researches two major questions. First of all, the study illustrates why the government of leading economies has wanted to control the price setting policy of a natural monopoly business. Secondly, the ways to regulate the price setting of monopolist business have been described in the study as well. In the meanwhile, the study paper includes economic principles to analyse how monopolist business set up has affected the consumers in a free market. In terms of economic definition, pure monopoly market structure has formed if there is only a single producer or supplier available to the market (White, 2015). Therefore, due to lack of market competition, the operating business of the single firm creates monopoly market where the monopolist firm has become the price maker in the industry (Abdin, 2008). The study paper delivers a detailed review of the operations of natural monopolist firm to identify why the government should restrict the price setting of monopoly businesses (Imai, 2012). In addition, a case study has been provided to understand how natural monopoly can imbalance the market equilibrium price. In order to understand why and how government regulates the price setting of a monopoly market, it is important to observe the characteristics of a monopoly market structure. In a monopoly market structure a single firm serves the entire industry with no competition (Sheshinski, 2016). On the basis of the regulatory terms, a firm with 25 percent or more of the market share is considered as a monopoly (Jamal Sunder, 2014). On the other hand, it is important to note that a natural monopoly occurs due to certain advantages such as high availability of mineral resources, strategic location and specific regulatory requirements (Sheshinski Weiss, 2013). For example, the Gulf Countries have good amount of natural crude oil resources that makes them monopoly leader in the global oil industry. However, to become a natural monopoly market, the industry must possess the following characteristics: One seller and many buyers: There is a single seller and huge number of buyers in a monopoly market. Lack of substitutes: Due to the absence of competitors there is a lack of substitute products. Sometimes the distinctiveness of the products and services provide monopoly rights to the firms (Sheshinski Weiss, 2013). Lack of competition: As there is a single seller in the market there is no close competitor for a monopoly firm. Profitability as the primary objective: The primary objective of monopolist firm is to earn higher level of profitability. In other words, profit maximisation is the main aim of the monopolist firms. The monopolist firms aims to achieve supernormal profit that makes different from any other market structure (Sheshinski Weiss, 2013). However, the firm may achieve abnormal profit in the long run due to over regulation of government and promotion of competition by regulating bodies. High barriers to entry and exit: Furthermore, the monopoly market structure has high barriers to entry and exit for new firms in the market. In other words, a new firm requires huge investment in order to enter a monopoly market that has no competition till present (Sheshinski, 2016). Hence, the barriers to entry are at extreme level for a new entrant. High control over price: Being a single seller in the market with no substitutes, the monopoly firms are the price makers. The monopoly firms have the right to decide the price of the products and services that are offered to the customers. The primary factor that is considered by the monopolist firms to determine the price of its products and services is total revenue. A monopolist firm produce its products at an output level at which the total revenue is at its highest point to earn maximum profit (Sheshinski, 2016). The total revenue curve has been presented herein below: Figure: Total Revenue Curve of a Monopolist Firm Source: (White, 2015) The above figure shows that M is the output level at which the total revenue is at its maximum point. Furthermore, a total revenue curve is inclined in the middle and at its highest point the profitability is maximised (White, 2015). Hence, a monopoly firm determines the level of output by considering the profit maximisation factor. However, there are several other factors that must be observed to understand the market structure of a natural monopoly. A diagram has been given below with further explanation: Figure: Natural Monopoly Source: (White, 2015) According to the above figure, a monopolist firm produces at an output level QM, which is much lower than the socially optimum output level at QE. Additionally, the monopolist organisation charges a higher price at PM which is also higher than the socially optimum price level. Furthermore, the level of quantity to be produced by a monopoly firm is determined by MC = MR (White, 2015). Therefore, it can be seen that the price charged by the monopoly businesses is quite higher than the market equilibrium price (PE) and the government regulated price (PR) that creates a immense pressure over the consumers. Furthermore, the output level at QM, which is quite below than the equilibrium output level (QE) and government regulated output level (QR) indicates an underutilisation of resources (White, 2015). Hence, the profit maximisation policy of the monopoly firms create problem for the government to maintain stability in the market. The government is the core authority to control the misuse of the monopoly power by several organisations to safeguard the rights of the consumers and maintain stability in the market (Sunder Jamal, 2015). Furthermore, there are several reasons for the government to regulate the price setting of natural monopoly that is discussed herein below: Avoid over pricing: The absence of government regulations makes the monopoly firms misuse their price setting power and the common public have to suffer by paying high price for the products. The over pricing policy of the monopolist contributes towards inadequate allocation of resources and reduces the consumer welfare (Sadanand, 2008). Hence, government regulation is required to prevent excess pricing of products. Maintain quality of service: The lack of competitors and substitute products allows the monopolist firms to comprise with the quality of products and services (Spulber, 2014). Hence, the government regulation is required to maintain the quality of service and safeguard the consumer interests. Control monopsony power: In some cases, the firms operating in monopoly market structure misuse their monopsony power while purchasing raw materials from the small scale sellers. For example, supermarkets with monopsony power dominate the small farmers and squeeze their profit margin. The farmers have to forcefully sell their products at lower price as there is no other buyer in the market (Slade, 2009). Hence, the regulations of the government safeguard the rights of the small scale producers in a monopoly market system. Promote competition: The firms in the monopoly market system use their power to dominate the entire industry. It is considered that a firm with more than 25 percent of the market share can dominate other sellers by practising monopoly power (Jamal Sunder, 2014). Hence, the government plays an essential role in such market structure by promoting competition to minimise the monopoly power of the large scale market leaders. The analysis based on the discussion has evaluated, many of the monopoly firms have misused the price setting power in a given market due to lack of government regulations. Clearly, such price setting strategies of overpricing can unstable market price equilibrium of a free market leading to market failure. Evidently, price setting power of monopoly firms can further make an impact on the savings of target audience (Wessels, 2012). In addition, in the presence of monopoly market structure, new firms cannot get an entry in the market. Hence, growth of the economy has been hindered. Therefore, by using regulatory policies government of modern economies must regulate the price setting tactics of natural monopoly businesses (Jamal Sunder, 2014). In the developed as well as emerging economies, government has considered a number of strategies to restrict the price setting of monopoly businesses describes as follows: First and foremost, government must set up regulatory commission to verify the pricing strategy as well as the quality of offered products/services of monopolist businesses (Gaudin, 2012). For instance, State Electricity Regulatory Board was set up in Australia to regulate the pricing of electricity offered by different state-owned firms in their respective target markets. Thus, the pricing of electricity and normal supply have been maintained. Also, the regulatory board must identify whether monopolist firms operating in different markets have maintained fair price of products so that market price equilibrium can be ensured (Norman, 2012). Other than the regulatory interventions, government of economies must use substantial price deduction policies to control the high prices marked by the monopoly firms operating in different industries. Evidently, the RPI-X regulation technique can be defined as a way to put a restriction of surging product pricing strategy of monopolist firms (Simshauser, 2017). The X denotes the deduction of price to be implemented by the government during the price hike of products/services offered by monopolies. Considering the technique, assuming inflation rate as 6% and the X is 3%, the policy will allow the monopoly enterprise to hike the service/product price by 6-3 i.e. 3% at the highest. In this way, the government can regulate excessive offered price of monopolies. Thirdly, the government agencies and regulatory board must put an eye into the mergers and acquisition operations of firms that can establish a monopoly market structure in a given market. In such cases, a number of restrictions and legal regulations must be implemented to maintain price setting policies (Treynor, 2013). Hence, the government intervention and strategies can control the price making policy of monopolies safeguarding the public interest. In terms of discussing a monopoly business structure in the Australian market, EnergyAustralia, a state government-owned electricity and gas supplier can be featured. Precisely, the monopoly business of the enterprise offered electricity and gas supply service to the target audience of Central Coast areas, Sydney and other territories of New South Wales. Previously, the company had operated using price-regulated monopolist business in the target area by supplying electricity. Before 1997, the enterprise has owned a unique electricity distribution network establishing a monopoly business in the target market of Western territories of New South Wales. By 1997, the Australian government had deregulated the business structure of EnergyAustralia to increase competition and maintain a competitive price of electricity in the target market. As a result of the deregulation, the enterprise was segmented into two section i.e. retail business and distribution business of electricity (Parkin, 201 4). However, the distribution business was kept under the state government in 2012. Evidently, the government regulations imposed on the monopoly businesses have benefited the target market consumers (Sheshinski Weiss, 2013). Precisely, due to government interventions and regulatory activities, consumers can get better product price and improved quality of services/products. On the other hand, using the price flooring tactics and segmentation of monopoly businesses can directly improve the economic balance in a given free market. Evidently, regulating the monopolist businesses price setting policy can create more opportunities for the new firms to get an entry in the market (Treynor, 2013). Thus, SMEs in the local market get a chance to establish their business in a monopolist market structure as well. Understandably, the review of the monopoly market structure has delivered answers to the primary questions asked during the introduction of the study. The study evaluates that monopolist firms have influentially exploited the price making power. At the same time, monopoly businesses have deliberately produced goods below the socially optimal output level to control the prices at will. In addition, due to lack of market competitors, monopolist firms have compromised with the product quality as well. As a result of the consequences, to protect the interest of the market consumers, government intervention to regulate price setting policy of monopolist firm has become essential. Conclusively, to maintain economic balance and market price equilibrium, government regulation on pricing strategy of monopoly business has become mandatory. References Abdin, M. (2008). Hidden Monopoly in the Free Market.SSRN Electronic Journal. Gaudin, G. (2012). Price Squeeze and Monopoly Maintenance in Regulated Industries.SSRN Electronic Journal. Imai, H. (2012). Bilateral price-setting in a bilateral monopoly model.Mathematical Social Sciences,12(3), 279-301. Jamal, K., Sunder, S. (2014). Monopoly versus Competition in Setting Accounting Standards.Abacus,50(4), 369-385. Norman, G. (2012).Recent developments in monopoly and competition policy(4th ed.). Cheltenham: Edward Elgar. Parkin, M. (2014).Economics (3rd ed.). Boston, Mass. [u.a.]: Pearson. Sadanand, V. (2008). Endogenously determined price-setting monopoly in an exchange economy.Journal Of Economic Theory,46(1), 172-178. Sheshinski, E. (2016). Price, Quality and Quantity Regulation in Monopoly Situations.Economica,43(170), 127. Sheshinski, E., Weiss, Y. (2013).Optimal pricing, inflation, and the cost of price adjustment(4th ed.). Cambridge, Mass.: MIT Press. Simshauser, P. (2017). Monopoly regulation, discontinuity stranded assets.Energy Economics,66, 384-398. Slade, M. (2009). Price Wars in Price-Setting Supergames.Economica,56(223), 295. Spulber, D. (2014). Products Liability and Monopoly in a Contestable Market.Economica,55(219), 333. Sunder, S., Jamal, K. (2015). Monopoly or Competition: Standard Setting in the Private and Public Sector.SSRN Electronic Journal. Treynor, J. (2013). How to Regulate a Monopoly.Financial Analysts Journal,59(4), 24-25. Wessels, W. (2012).Economics (2nd ed.). Hauppauge, N.Y.: Barron's Educational Series. White, L. (2015). Market Definition in Monopoly Cases: A Paradigm is Missing.SSRN Electronic Journal.

Understanding Digital Marketing Consumers

Question: Discuss about the Understanding Digital Marketing Consumers. Answer: Introduction The recent growth in digital marketing is improving the usage of the digital devices. The business companies are restructuring their marketing analytics in order to achieve successive platform in this competitive market (Jrvinen Karjaluoto, 2015). The study highlights the digital marketing processes maintained by Abt Electronics, which is one of the most successful family business based in Chicago (Abt Electronics, 2017). This single-location business sells the electronics and appliances to the customers. In fact, the company has the online presence through which it receives the significant supports from the digital customers. Apart from the online presence, the company even has a beautiful store with tremendous selection. Justification for Customer Analytic The company is much concerned about the high quality customer services. Abt electronics is always connected to the customers through e-mail and social channels. Moreover, the company has been paying attention to the programmatic process to improve the quality of the services. Apart from this, the company is paying the attention towards more innovative processes to create the customer buzz in a significant way (Abt Electronics, 2017). The company has tied up with the federal government in selling the appliances. It is notified that the customers would receive $6.5 million in rebates in purchasing of Energy Saver appliances between 15th April to 25th April (Abt.com, 2017). This rebate from the federal government is the unique strategy that the company has been utilizing for satisfying the customer base. The company is thus now focusing on establishing some of the marketing objectives that will be beneficial for strengthening the brand identity in the digital market. Marketing Objectives The company has set several marketing objectives to ensure the strengthened and competitive position in the digital market. The company is introducing the high quality electronic apparels for the digital customers based in US. The major marketing objectives set by the company are as follows: To create a greater brand awareness of the electronic apparel To achieve almost 10% of the customer base in a year To ensure almost 5% of the market share for one year The marketing objectives is focusing on the specific, measurable, attainable, realistic, and time bound process to accomplish the determined goal (Holliman Rowley, 2014). The objectives are specified below: S- Specific This is specific because 1) The business needs to introduce the quality product to enhance brand awareness 2) The business can achieve the customer base by providing high quality electronic products. M-Measurable This is measurable because 1) The supports from the customers will enhance brand awareness 2) The customer would prefer to purchase the quality apparel that will reach up to 10% in a year. 3) The involvement of the customers would help in achieving 5% market share in a year. A- Attainable It is attainable because 1) The quality product can enhance the brand awareness. 2) The customers would prefer to purchase high quality apparel through digital market 3) It will increase the market share if the costs will be incurred. R- Realistic It is realistic because 1) Brand awareness can strengthen the business position. 2) Quality parameter of the products will enhance customer base 3) The supports from the customers will increase market share as well T- Time Bound It will take one year to achieve these objectives. Table 1: SMART Objectives (Source: Created by Author) Tactics and Implementation The company has been concentrating on implementing such objectives by providing the customers extra benefits. For example, involving with the federal government is useful for the company to provide a particular amount for the Energy Saver appliances. This strategy is unique in compare to other digital electronic companies. The customers even can receive the electronic goods with proper warranty period. The company will also focus on the shipping process for delivering the orders on time. Achieving the customers satisfaction rate will help the business to increase the market share. References Abt Electronics, (2017). !company_name! | Company Profile from Hoovers. [online] Hoovers.com. Available at: https://www.hoovers.com/company-information/cs/company-profile.abt_electronics_inc.a18d8f32e73aa4ed.html [Accessed 18 Mar. 2017]. Abt.com, (2017). Customer Experience at Abt Electronics. [online] Abt.com. Available at: https://www.abt.com/about/news/mediapost_051310 [Accessed 18 Mar. 2017]. Holliman, G., Rowley, J. (2014). Business to business digital content marketing: marketers perceptions of best practice.Journal of Research in Interactive Marketing,8(4), 269-293. Jrvinen, J., Karjaluoto, H. (2015). The use of Web analytics for digital marketing performance measurement.Industrial Marketing Management,50, 117-127.