The Disaster Damaged Bhp s Reputation And Benefits

As the shareholder of Samarco, the disaster damaged BHP s reputation and benefits. BHP needs to prepare huge funds for the clean-up bill, potential fines and compensation for those injured or killed people. In stock market, BHP took a beating in trade after the disaster. BHP fell 5.7 per cent in London and grappled with the lowest iron prices in a decade. The exact cause of the burst dam is unclear because the investigation is still continuing. However, a 2013 assessment by the independent Brazilian organisation highlighted concerns about the integrity of the tailings dam and recommended against renewing the licence which was ignored by Samarco (Ricardo, 2016). people have doubted that whether other tailings dams of BHP around the world is structurally sound and raised eyebrows about how they manage the risks at other operations. The disaster raised the suspicion of dependability of tailings dams at other mines owned by BHP. Besides, this disaster reminded people of past failures inc luding the collapse of the BHP Ok Tedi tailings dam in the late of 20st century which is also considered as one of the worst environmental disaster (3). More and more people begin to criticize the operation way of BHP and lose the confidence for BHP due to their failure of diligence responsibilities. The following paragraph on this essay will discuss and analyze whether BHP’s behaviour is ethical or unethical through shareholder and stakeholder theories. The shareholder theory wasShow MoreRelatedBritish Petroleum (Bp) Case Study Essay5543 Words   |  23 PagesPetroleum if we exclude the accident in Mexican Sea has a huge respect and reputation as a stable, developing and profitable corporation. 9 3. Recommendations and implementations 11 3.1. Recommendation A: Establish a trust fund with other oil super-majors 11 3.1.1 Implementation plan for recommendation A 11 3.2. Recommendation B: promotion and PR its past achievements and awards and also continuing building positive reputation 12 3.2.1. Implementation plan for recommendation B 12 4. ConclusionRead Morepaul hoang answers72561 Words   |  291 Pagessuch cases. Since the Answer Book is 178 pages long, colleagues may find the use of ‘short keys’ useful when searching for answers. By pressing the and keys together, you will be prompted by a pop-up menu. Type in the question number or key word(s) you are seeking answers for (e.g. ‘2.8.3’ or ‘Bausch Lomb’) and press and the answers should appear right in front of you! I hope that you and your students will find the answers (and they are only suggested answers at best) useful in the teachingRead MoreExploring Corporate Strategy - Case164366 Words   |  658 Pagesfrom mature markets to emerging ones; new product adoption is not keeping pace with the loss of patent protection . . . specialty and niche products are playing a larger role; and regulators, payers and consumers are more carefully weighing the risk/beneï ¬ t factors of pharmaceuticals.1 This case explores some of the trends affecting the ethical (research-based) sector of the industry and invites readers to prepare their own analysis. Industry evolution As described in Box 1, the pharmaceuticalRead MoreTransforming Total Sales into Net Profits51271 Words   |  206 Pagesresource planning systems), but over the past few years, the practice slid rapidly downhill. Even worse, many of the clients complained that their tens of millions of dollars spent on consulting and technology had failed to yield any bottom-line benefits. Jordan’s job was to find new ways for the worldwide practice to deliver real bottom-line value to clients. His initial response to Eli’s premise was, â€Å"For the average company, you are talking about more than doubling profits every year! Most CEOsRead MoreStephen P. Robbins Timothy A. Judge (2011) Organizational Behaviour 15th Edition New Jersey: Prentice Hall393164 Words   |  1573 Pagesand permission should be obtained from the publisher prior to any prohibited reproduction, storage in a retrieval system, or transmission in any form or by any means, electronic, mechanical, photocopying, rec ording, or likewise. To obtain permission(s) to use material from this work, please submit a written request to Pearson Education, Inc., Permissions Department, One Lake Street, Upper Saddle River, New Jersey 07458, or you may fax your request to 201-236-3290. Many of the designations by manufacturers

Legal History And Reason For Placement - 1543 Words

Legal History and Reason for Placement: The DeJesus/Bernadeau family has a previous history with the Department dating back to 1986. There were 51A’s filed in March 1986, December 1993, February 1994, March 1997, and three reports in July 2002. In July 2002 Abner Bernadeau, Stephanie Guzman DeJesus, and Michael Guzman DeJesus were removed from their mother’s care after an Emergency Care and protection order was filed. It was reported that two year old Stephanie was found wandering the streets of Cambridge with a rope tied around her ankle and her two year old Michael was found at home tied to his crib. The three children were returned to their mother’s care a year and seven months later. The DeJesus/Bernadeau family became†¦show more content†¦DCF Placement History: During Stephanie s first removal, from July 2002 until April 2004, she was placed, along with her siblings, in a Departmental foster home. In May 2010, Stephanie was removed from her mother s care again and placed in a Departmental foster home. Stephanie was then placed with his maternal aunt, as was her twin brother, Michael. Her aunt Maritza expressed interest in becoming the guardian of Stephanie. The Department developed concerns regarding her ability to care for Stephanie. The maternal aunt (foster parent) struggled with sending Stephanie to school on a regular basis, she did not make herself available for all home visits, missed medical appointments, and she was struggling with her own possible mental health issues and illness. She agreed with DCF that she was not able to care for the children and needed to take care of herself. In September 2012, Stephanie was placed at her current foster placement and has remained at the same placement. Current Placement: Stephanie is at an IFC foster home through Dare Family Services and has been at the same placement since 2012. 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Discontinuity and Stranded Assets †Free Samples to Samples

Question: Discuss about the Discontinuity and Stranded Assets. Answer: Introduction: In the particular study essay, the discussion is rightly focused on monopoly market structure. By identifying the monopolistic market structure, the study paper evaluates how and why governments of modern economies may want to regulate the price setting of a natural monopoly (Abdin, 2008). The study applies economic principles to the concept of benefits, costs, and structure of monopoly market to support the argument. Precisely, a pure monopolistic firm can be identified as the single supplier in a given market area having no competitors. The concept of natural monopoly needs to be identified so that one can recognise why monopoly market structure takes place. Evidently, due to certain barriers to entry in a specialised industry, only a single firm can meet the requirement. Thus, the company will have the advantage to set up monopoly market structure. Also, high start-up costs of business or patenting of products can create monopoly market (Jamal Sunder, 2014). In the study, the key features of a monopoly market structure have been discussed stating the advantages as well as disadvantages of such market structure. Also, revenue curves for a monopoly firm have been analysed for better understanding. Lastly, providing a case study, the paper discusses how government should regulate price setting of monopoly firm in a given market condition. Monopoly market structure is said to be achieved when a single firm prevailing in an identified industry having no competition. In terms of regulatory view, if a company has got 25 percent of the entire market share, the firm is considered to be a monopoly business (Shaffer, 2012). However, a natural monopoly occurs if an organisation has got natural advantages such as strategic location, plentiful mineral resources, and specialised regulatory requirements etc. For instance, most of the Gulf countries have got access to the abundant natural resource of crude oil. Hence, the countries have a monopoly right in the global crude oil market (Wessels, 2012). The key characteristics of the market structure have been analysed as follows: Lack of substitutes: In such market structure, the single operating firm produces goods that have no close substitutes. In some cases, uniqueness of products offers a monopoly right over a given market (Spulber, 2015). Barriers to entry: In such market structure, the monopolist market player creates significant barriers to entry for new firms trying to enter the market (Shaffer, 2012). Clearly, barriers to entry for newcomers are at extreme level as the industry is entirely controlled by the monopolist business. Market Competition: The monopolist firm has no close competitors due to uniqueness of products developed (Park, 2012). Profitability: In the meanwhile, a monopolist firm can continue to achieve supernormal profit structure in the long-run business although it can be loss making or maximising revenue as well (Liu, 2011). In case abnormal profits can be achieved in the long-term, the monopolist firm will face definite competition from other market players. Thus, abnormal profit can be erased for a monopolist firm. Control over Price: As there is no close substitute of products offered by a monopolist firm, the firm decides the price of offered products (Sadanand, 2008). Since the monopolist firm has the maximum control over pricing of product, it makes the firm a price maker in a given market. In a monopolist business, the total revenue of the firm is determined by multiplying total quantity demanded and price. The total revenue curve of a monopoly business is presented as below: It can be seen from the above diagram that the monopoly business chooses to produce a particular quantity of product at which the total revenue will be highest to maximise its profitability. Hence, the level of quantity produce is determined by the profit maximising factors in place of other market mechanism such as demand and supply of product. On the basis of the above characteristics of the natural monopoly market structure, a diagram has been presented herein below for further understanding: On the basis of the above diagram, it can be seen that monopolistic firms produces at an output level, which is much below than the socially optimal output level. Furthermore, the monopolistic firms charge a high price that is much higher than the marginal costs. Hence, an under allocation of resources can be evident in the monopolistic market structure. The monopoly firms use the strategy of raising its price and restricting output to maximise the profit. By considering the above figure, it can be seen that the firms in natural monopoly market produce at Qm output level, which is much lower than socially optimal output level (Qso) and fair return output level (Qfr) set by the government. Furthermore, the price charged by the firms in natural monopoly setup is Pm, which is also higher than the breakeven price (Pfr) and socially optimal price (Pso). According to the above explanation of the characteristics of the natural monopoly market structure, the government of modern countries have wished to regulate the price setting of monopolies so that interest of the consumers can be protected. In the underlying section, the reasons behind regulating monopolies have been discussed in details: Avoid excess price: Due to absence of government regulations, monopolist firms can set prices above the competitive equilibrium. Evidently, such price setting policies of monopolist business can reduce the consumer welfare and contribute towards allocative inefficiency in a free market (Liu, 2011). Therefore, to prevent excess prices of products, it is important for the government to regulate price setting tactics of monopolies. Protect Quality of service: Precisely, due to lack of close substitutes and competitors, a monopolist firm can produce products that can be inferior in quality. Therefore, government regulations and interventions can ensure that the monopoly business firms can meet the minimum standards to produce goods or services (Acharyya, 2015). Effectively, by doing so, government can preserve consumer interests. Monopsony power: Firm operating in a monopoly market are found to exploit the monopsony purchasing power (Samuelson Nordhaus, 2012). For instance, the supermarkets with monopoly power dominate the market and squeeze the profit margin of the farmers. The farmers have to offer their products at a price decided by the supermarkets (Sadanand, 2008). Hence, it is important for the government to regulate the powers of the monopoly firms to maintain stability in the market and protects the rights of the small sellers. Promote competition: Competition is the best solution for minimising the problems of monopoly market structure (Sadanand, 2008). In some industries, the government can encourage competition in order to minimise the monopoly power of a particular market leader to stabilise price and promote optimal utilisation of resources (Samuelson Nordhaus, 2012). Natural Monopolies: The high economies of scale make some industries natural monopolies, where the most efficient number of firm is only one (Liu, 2011). The firm in a monopoly structure uses its power to produce at a lower output level than the socially optimal level that leads to under utilisation of resources. In other words, the firms in monopoly market do not utilise all its available resources to minimise the supply of products and increase its profit margin (Liu, 2011). Hence, it is important for the government to regulate the monopoly firms to prevent them from misuse their monopoly power. On the basis of the above points, it can be seen that the government needs to control the misuse of monopoly power in order to maintain a equilibrium in the market. For instance, the excessive use of monopoly power can lead to an unstable economic condition in the economy that will exploit the income and savings of the consumers (Simshauser, 2017). Furthermore, the excessive exploitation of the monopoly power also makes it difficult for the small producers and farmers to seek growth in the market. Hence, the government of a nation can make use of different policies and economic reforms to control the abuse of monopoly power of the monopolistic firms. Firstly, the government can make use of the price capping policy to regulate the high price charged by the electricity, gas, water and several other monopoly firms. For instance, the RPI-X regulator can be implemented to limit the increase in the price of the products. According to the RPI-X regulator, the X presents the amount of price cuts the monopoly have to face on the basis of the policy (Shaffer, 2012). If the inflation rate is found to be 3 percent and the X is 1 percent, the monopoly firms will be allowed to increase the price by 3 1 = 2 percent (Simshauser, 2017). This policy acts as a price flooring policy that helps the government to control the excessive use of monopoly price charging of the firms. Secondly, the government can establish a regulation commission to examine the quality of the services and products rendered by the monopoly firms (Parkin, 2014). For example, the Australian government introduced the Office of the National Rail Safety Regulator to maintain the safety records of the Public Transport Commission and ensure that the quality of the service is maintained (Treynor, 2013). Additionally, in the gas and electricity market, the regulators can ensure that the old people are treated properly and monopolistic power does not lead to under supply of gas and electricity during the winters. Thirdly, the government must investigate the mergers that lead to monopoly power of the new firms. For instance, if the merger led to market share of more than 50 percent for a new firm, the government must put a check over such events to maintain market stability in the economy (Treynor, 2013). Furthermore, the government must investigate the abuse of monopoly power such as practiced by several large firms in order to safeguard the rights of the consumers. The State Electricity Commission of New South Wales i.e. Elcom can be identified as a state government monopoly business accountable for electricity production, transmission of electricity, and supply across New South Wales, Australia. On May 1950, the Commission was set up under the Electricity Commission Act 1950 (Roarty, 2017). The state governed Elcom took over four major electricity supply authorities to become monopoly producer and supplier of electricity throughout the target market of New South Wales, Australia. Due to the monopoly business set up, there was no competitor for Elcom and the company set the prices of electricity. To promote competition in the electricity industry, in 1990s, the Government of Australia initiated the deregulation programme of the state owned monopoly business of Elcom (Roarty, 2017). Precisely, the target of the government was to provide electricity at a cheaper price and the consumers could select electricity suppliers according to their prefere nces (Knneke, 2009). The regulation of the government of the monopoly firms helps the consumers to get better products and services at a cheaper price. Furthermore, the regulation of the government enforces the monopoly firms to focus on product innovation and improve their services by making better utilisation of resources (Parkin, 2014). However, the price flooring strategy and breaking up of a monopoly helps the government to improve the economic balance of the industry and enhance equality in the market. The regulation of the government helps the industry or economy by promoting business and providing better opportunities to the start-ups and small scale enterprises to survive and seek success in the market. By considering the above analysis, it can be seen that the monopoly firms are found to misuse their power of price making and produces at a lower output level than the socially optimal output level. Moreover, the monopoly power of the firms leads to fall in the quality of service that has become a major issue in the current business environment. Hence, to enhance the benefits for the consumers and control the misuse of monopoly power, the government needs to regulate the price setting of the natural monopoly. Additionally, the improved regulations of the government will help to maintain equilibrium price in the market and improve the economic balance of the economy. References Abdin, M. (2008). Hidden Monopoly in the Free Market.SSRN Electronic Journal. Acharyya, R. (2015). Monopoly and product quality.Economics Letters,61(2), 187-194. Colander, D. (2013).Economics(2nd ed.). New York: McGraw-Hill Irwin. Jamal, K., Sunder, S. (2014). Monopoly versus Competition in Setting Accounting Standards.Abacus,50(4), 369-385. Knneke, R. (2009). Electricity networks: how natural is the monopoly?.Utilities Policy,8(2), 99-108. Liu, Q. (2011). Committing Not to Serve a Monopoly Market.SSRN Electronic Journal. Park, S. (2012). Supervisory control for dynamic monopoly.IET Control Theory Applications,6(7), 992. Parkin, M. (2014).Economics(3rd ed.). Boston, Mass. [u.a.]: Pearson. Roarty, M. (2017).Electricity Industry Restructuring: The State of Play Parliament of Australia.Aph.gov.au. Retrieved August 2017, from https://www.aph.gov.au/About_Parliament/Parliamentary_Departments/Parliamentary_Library/pubs/rp/RP9798/98rp14 Sadanand, V. (2008). Endogenously determined price-setting monopoly in an exchange economy.Journal Of Economic Theory,46(1), 172-178. Samuelson, P., Nordhaus, W. (2012).Economics(4th ed.). New York: McGraw-Hill. Shaffer, S. (2012). Monopoly rationing revisited.Economics Letters,9(1), 17-21. Simshauser, P. (2017). Monopoly regulation, discontinuity stranded assets.Energy Economics,66, 384-398. Spulber, D. (2015). Products Liability and Monopoly in a Contestable Market.Economica,55(219), 333. 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.

Michelangelo1 Essay Example

Michelangelo1 Essay Michelangelo was one of the greatest artists of all time. He excelled in architecture, sculpture, painting, poetry, and engineering. He was a true Renaissance man who lived a long emotional life. In painting The Last Judgment, Michelangelo was able to incorporate all that he had learned about the human body. He was able to show the way the body moved, as well as its displays of unrestrained passion, overwhelming grief, or endless torment. This is what makes The Last Judgment such a unique and exceptional work of art. In the spring of 1534, Michelangelo received a commission from Clement VII to paint The Last Judgment on the altar wall of the Sistine Chapel. He was also commissioned at this time to paint a Fall of the Angels on the entrance wall, but this second work was never executed. He had painted the ceiling of the Sistine Chapel some twenty eight years prior, but the style of his The Last Judgment would greatly differ from that of the ceiling. Before Michelangelo could begin, there were many preparations to be made. A scaffold had to be built and the wall had to be prepared. Five paintings by Perugino and Michelangelo had to be removed. Two windows had to be walled up and Michelangelo ordered it to be inclined forward by about half an ell toward the top, hoping in this fashion to protect his work against the accumulation of dust. (Brandes 388) Sebastiano del Piombo had persuaded the pope that the painting would look best in oil, and the wall was therefore prepared to receive oil pigments. This delayed the beginning of the work, since Michelangelo declared oil-painting to be an effeminate art and insisted on painting al fresco, as he had done with the ceiling. The wall had to be done over and Michelangelo never spoke to Sebastiano, who had once been a student of Michelangelo. (Brandes 389) There were many previous depictions of the Last Judgment which influenced Michelangelos plan for the painting. Suc