English Real Property Coursework Example | Topics and Well Written Essays - 2500 words

English Real Property - Coursework Example Pam is Jenny’s mother and she is likely to get her share in Jenny’s property as a beneficiary interest by â€Å"The Law of Property Act 1925,† but Katie has hardly any chances to get her share due to certain legal terms. Facts of the Case: Jenny started her business and she bought a shop at 43 Main Street in 1990 in her sole name. Jenny, thus, was the sole owner of the property though Pam’s financial share is involved in the property. Being a sole owner of the shop, Jenny has more rights than Pam, though Pam’s financial share is more than Jenny. According to Land Registration Act 2002, if only one name is there on the Land Registry or the title deeds of the property, then only that person becomes the legal owner. Thus, Jenny is the legal owner and she has more rights than the co-owner Pam. However, if the relationship gets spoiled between the two people due to some or other reasons, both of them may have rights to live in the property or to get shar e of the profit if it is sold as per share in terms of money contributed by each. Actually this area of law is very complicated. The rights depend upon the personal circumstances. In this case it has been mentioned that Pam offered 80% amount to buy the shop, but it is not mentioned whether there was any written agreement between both of them regarding the financial share. But even if there is no formal written agreement, the co owner, that is Pam, may have a right to a share of the value of the property if Evidence in writing to show that she should have share She has a verbal agreement (such as if she gave up somewhere else on the understanding that she would be able to stay long term) She had paid towards the deposit or made mortgage payments. [1] Sam had previously been the boyfriend of Jenny and both of them bought the property of 101 Central Road which included a large shop on the ground floor and two residential flats on first and second floors and by law became Joint Tenants . For buying this property Jenny sold out her old shop and collected 50% of the purchase amount from it. 10% was paid out of Jenny’s personal saving account. By doing this, she had not returned back the 80% of the amount to her mother who gave it to her for buying the old shop. So among 50%, logically thinking, 40% of the share of old property belongs to Pam. In such case she had around 40% share in the new property. Jenny also has the equal share because in the previous property she had a share of 10%. She bought the new property for which 10% share was generated from her own saving account and for remaining 40% amount she took a loan and She and Sam (her boyfriend) both have the responsibility equally for the repayment of the house. 1. The information is taken from the content â€Å"Sole Ownership,† website: http://england.shelter.org.uk/get_advice/finding_a_place_to_live/Buying_and_selling/buying_with_other_people/sole_ownership So the calculation of share will be: 40% belong to Pam, 40% belong to Jenny and 20% belong to Sam. The court may award a share to Pam where there is the evidence of an intention to share asset equally or to hold assets jointly [2] It is mentioned in the case that Sam and Jenny became the Joint owners. Under the agreement of Joint Tenancy, the joint owners together own the whole property and do not have a particular share in it. If one of the owners dies, the other owner automatically becomes the sole owner. Though Jenny and Sam, as the joint owners

Jazz Essay Example | Topics and Well Written Essays - 1250 words - 2

Jazz - Essay Example Miles Davis one of the most famous jazz players worked on the modern jazz musical concepts that have helped to grow this genre to a next level. The very first jazz melody â€Å"Agitation† gives the listener a very exotic feeling by using his trumpet. It combines the different aspects from the musical perspectives. The song follows quick transitions with specific background sounds. The background music keeps the flow of the music steady and continuous. The trumpet is used throughout the music owing to its main emphasis on the intensity to the certain point it shows. Miles Davis improvisation in this specific type of Jazz know as Modal Jazz music has helped specifically to stretch out the harmony of the music into certain parts which makes the it more systematic and helps the music to proceed in an organized manner. Miles Davis stretched out certain improvements in different types of Jazz music, such as bebop, hard bop, cool jazz, modal jazz and jazz fusion. This specific piece from Miles Davis joins in with different instruments to give the feel of the environment producing a story of its sort. This modal jazz requires knowledge of musical nodes beforehand. Miles Davis, the most well-known protagonist of Jazz Music history had been on top of creating creative method for Modal Jazz. The video specifically has piano to create the specific background rhyme to the music that follows throughout the length of the video. Throughout the video there are specific changes in the chords which at times follow a certain transition and after a break follow another set of harmonies. In its historical aspect, this piece shows the jazz music that followed up in the 60’s. Miles Davis, who was a pro trumpeter, performed his music based either solo or like in the video, along with different instruments such as French horn, Tuba, Wood winds. The video reflects on the charismatic methods of attaining the attention by progressive music. This video stretches

ZARA Clothing Performance Analysis

ZARA Clothing Performance Analysis Zara is the largest division and flagship brand of the Spanish retail group Inditex. It sells up-to-the-minute fashionability at low prices, in stores that are clearly focused on one particular market (Slack, 2006). The first store opened by accident in 1975 due to a large pyjamas order cancellation. This typically can be said to be an emergent strategy as the Zara store today was not an intended strategy. Vertically integrated, Zara controls most of the processes in the supply chain whereby 50% of the products are manufactured in Spain, 26% in the rest of Europe and 24% in Asian countries. Zara outsources products of high labour intensive processes but maintains in-house capital intensive processes, protecting knowledge and know-how. It takes less than two weeks for a skirt to get from Zaras design team in Spain to a Zara stores in any part of the globe, as much as 12 times faster than the competition. And with shorter lead times, Zara can ship fewer pieces, in a greater variety of styles, more often and they can more easily cancel lines that dont sell as well, avoiding inventory backlogs. (Thinking Made Easy, 2009) This quick response capacity of Zara is made possible by the 3 main stages that define the competitive edge of the company: design, manufacturing and distribution. This strategy is embraced to focus on the operations which can enhance cost efficiency and hence Zaras internalization. Other production activities are completed via a network of about 500 subcontractors in close proximity to Zaras operations at La Coruna. Mr. Ortega the CEO of the Inditex, the parent company of Zara, once said that the secret to retail success is to have five fingers touching the factory and five touching the customer. (Nigel Slack, 2008) This paper uses the models and frameworks of the Operations Strategy module to describe analyze how Zaras operations strategy led to a sustainable competitive advantage in the global apparel industry. What is Operations Strategy? Just as there is no overall agreement about what strategy means, there is no universal agreement on how operations strategy should be described. Four distinct perspectives have emerged on the description as illustrated in Fig. 1 below (Nigel Slack, 2008): Top down vs. Bottom up: Zara boosted its innovation in a fast changing market by adapting the bottom up perspective of strategy in its operations. This is a key driver of competitive advantage through constant innovation to develop new-products that provide customers with new perceived benefits. Zara benefits from an organizational culture that allows information exchange, risk taking, experimentation and learning from failures. Market Requirements vs. Operations Resource: Whatever the operations strategy of an organization, it must in some way reflect the requirements of the organizations market. The fashion market is a fast changing one characterized by quick shifts in consumer demands. As described by Inditex CEO, Jose Maria Castellano, the fashion world is in constant flux and is driven not by supply but by customer demand. We need to give consumers what they want, and if I go to South America or Asia to make clothes, I simply cant move fast enough. How do Zaras operations resources help it to compete in its market? Zara has remained focused on its core philosophy that creativity and quality design together with a rapid response to market demands will yield profitable results. Its business model incorporates the following operational goals: To develop a system the requires short lead times To decrease production quantities and inventory To increase variety of styles/choice. We can deduce that operations strategy is concerned with the reconciliation of market requirements and operations resources. Key drivers of this reconciliation are the importance of setting appropriate performance objectives and understanding the decision areas that determine resource deployment. Factors affecting Zaras Strategic Decisions: Capacity Zara employs a chase demand capacity management in its operations. Spare manufacturing capacity is mirrored in the companys storage function, where up to 400 extra staff can be drafted in during busty periods. As new stock delivery schedules are regimented, customers know when new stock is due and traffic in stores is heavier at such times. As a result, the company is able to adjust its resources to match the demands as appropriate. Procurement and production planners make preliminary, but crucial, estimates of manufacturing costs and available capacity. The cross-functional teams can examine prototypes in the hall, choose a design, and commit resources for its production and introduction in a few hours, if necessary. (Ferdows Kasra, 2005) A small change in retail orders, for example, can result in wide fluctuations in factory orders after its transmitted through wholesalers and distributors. In an industry that traditionally allows retailers to change a maximum of 20 percent of their orders once the season has started, Zara lets them adjust 40 percent to 50 percent. In this way, Zara avoids costly overproduction and the subsequent sales and discounting prevalent in the industry. Supply Networks The vertical Integration advantage can be seen in Zaras centralized logistics and distribution. Zara designs around 10,000 new models every year and replenishes ranges within every one of its 650 retail stores twice per week, but in strictly limited quantities of stock. This ensures Zaras brand promise to customers of exclusivity, and also of design freshness. But it also avoids build-up of large quantities of unpopular stock. Zaras system has to deal with something in the realm of 300,000 new stock-keeping units (SKUs), on average, every year. (Ferdows Kasra, 2005). It outsources less manufacturing (only labour intensive tasks mainly the sewing) than its competitors hence can react quickly to seasonality and unforeseen demand. Zara avoids building inventories in any part of its supply chain from raw materials to end user. Process Technology Zaras communication and coordination through high technology information systems is one of Zaras success factors relative to its competitors. Its customized handheld computers support the connection between the retail stores and headquarters. These PDAs transmit all kinds of information (hard data as orders and sales trends and such soft data as customer reactions and the buzz around a new style). The constant flow of updated data mitigates the so-called bullwhip effect-the tendency of supply chains (and all open-loop information systems) to amplify small disturbances. Development and Organization This fast fashion system depends on a constant exchange of information throughout every part of Zaras supply chain-from customers to store managers, from store managers to market specialists and designers, from designers to production staff, from buyers to subcontractors, from warehouse managers to distributors, and so on Zaras organization, operational procedures, performance measures, and even its office layouts are all designed to make information transfer easy. By having operations in close- proximity to its headquarters allowed for better and faster communication between functional areas for faster decision making. Key success objectives for Zaras Performance: Speed: Speed and responsiveness to Market, Zara has changed the way clothing industry works where deigning, production and delivery to the retailers requires period of six months. The design and distribution cycle of the company takes just 10-15days in the whole process. Zaras speed to market in product development exceeds the capabilities of its competitors. This in itself provides additional value to stakeholders, customers, and stores in producing quality clothing at affordable prices. The proximity of their manufacturing and operational processes allows Zara to maintain the flexibility necessary to design and produce over 12000 new items annually. This capability allows Zara to achieve their strategy of expedited response to consumer demand. The process of obtaining market information and relaying it to design and production teams expedites product development by shortening the throughput time of their products from design to store. Dependability: Due to Zaras ownership and control of production, they ensure timely delivery and service. Although most of their stores run out of stock, signifying that they have low dependability in terms of product availability, another perspective of dependability in terms of keeping to date with fashion is achieved. Quality: Zara brand is synonymous with the cutting edge of fashion at affordable prices. Another Quality advantage is the added sense of quality to the product as the tags would be labelled with made in Europe rather than made in China due to Zaras trade-off between Low labour costs in Asia and operational efficiency. Flexibility: Designers (of average age 26) draw the design sketches then discuss it with market specials and planning procurement staff illustrating a flexibility of ideas generation and on the other hand the huge number of designs reflects the ability to meet almost all the fashion requirements by customers of all ages (up to 55). This adaptive model rather than traditional merchandising is very different from its competitors. Many competitors rely on a small elite design team that plans both design and production needs well in advance. Stores have little autonomy in deciding which products to display or put on sale because Headquarters plans accordingly and ships quantities as forecasted. Zara owned many of the fabric dying, processing and cutting equipment that provided Zara added control and flexibility to adopt new trends on demand. The added flexibility helped Zara on two fronts: shorter lead times and fewer inventories. (OPPapers.com, 2010) Cost: Zara produces most of its products in Europe. Compared to their competitors, they outsource very little to Asia. Though the cost of production in Spain is 17-20% more expensive than Asia, Zara does have a competitive advantage over its competitors in regards to operations. Though there is a cost advantage in their approach in regards to labour, the lack of flexibility in changing orders based on current trends hinders their operational efficiencies. Inventory costs are higher for competitors because orders are placed for a whole season well in advance and then held in distribution facilities until periodic shipment to stores. Lower inventory cost is a key sustainable advantage as it enables Zara to manufacture and sell its products at cheaper prices. Conclusion The smooth integration between Zara business strategy and it is operation strategy as illustrated in the strategic matrix below brought about a promotion of innovativeness through a blending of its performance objectives and decision areas. This aligned Zara operations with its business strategy, ensuring comprehensiveness, correspondence and coherence to achieve its mark in the garment industry as a world leader today. Zara has demonstrated that market flexibility and lean inventories may be even more important than cheap labour, an insight that just might reverse the and its success is based on controlling all the steps of manufacturing clothes: from design to fabric to manufacturing, distribution and sales in order to cut costs and make huge gains in speed and flexibility. In the fashion industry, where trends change daily, Getting a good strategic mix in operations is key to a retailers survival.

Robinson Crusoe :: Free Essay Writer

Robinson Crusoe Robinson Crusoe was written by Daniel Defoe. The novel was firstpublished in 1719. It tells the story of a young explorer who becomes maroonedon a deserted island. His experiences of the island change his outlook on life. Daniel Defoe was a short story writer that came from an poor family.Defoe was poor for most of his life and made his living as a butcher and awriter. Defoe mostly wrote short stories and political essays. Robinson Crusoewas a combination of two short stories. Many believe Defoe used RobinsonCrusoe to portray himself in a certain ways. The description was almostidentical to his own and after his wife left him, he felt as if he was marooned on a deserted island. The story takes place in the 1700s on a deserted island somewhere off thecoast of Brazil. The island is fairly large in size and has a small shore. Theinterior of the island has many trees, wild pigs and other small animals and asmall cave in which Crusoe stores food. I walked about the shore lifting up my hands. Look around, I see nothing but water, a forest, and the remains of my ship. At first, I was afraid of wild animals but after some exploration of the land, the only animals I had seen were wild pigs, squirrels, and some small birds.The only possessions that Crusoe retrieved from the remains of his ship were asmall knife, a box of tabacco, a pipe, and a small book that would later becomehis journal. Robinson Crusoe was a young and stubborn explorer. He was extremelytall and strong. His stay on the island changed him from a mean, stubborn manto an open-minded protestant. Standing at six feet, two inches and having my long, thick brown hair back in a ponytail, I felt as if I was eight feet tall. Without the permission of my parents, I was still sailing away from the misery. I held the cargo box is my strong arms, waiting to board my beautiful ship.Crusoe became a skilled craftsman and was an extremely religious man due tohis stay on the island. Being the only man on the entire island, he established afaith in God. He also became more articulate from writing in a journal daily.Overall, his stay on the island changed Crusoe's life greatly. As the story begins, Robinson Crusoe defies his parents and sets out tosea. Crusoe encounters a series of violent storms at sea and ends up in Africa.

Collusion

Collusion is an agreement between two or more parties, sometimes illegal and therefore secretive, to limit open competition by deceiving, misleading, or defrauding others of their legal rights, or to obtain an objective forbidden by law typically by defrauding or gaining an unfair advantage. [citation needed] It is an agreement among firms or individuals to divide a market, set prices, limit production or limit opportunities. [1] It can involve â€Å"wage fixing, kickbacks, or misrepresenting the independence of the relationship between the colluding parties†. 2] In legal terms, all acts affected by collusion are considered void. [3] | In the study of economics and market competition, collusion takes place within an industry when rival companies cooperate for their mutual benefit. Collusion most often takes place within the market structure of oligopoly, where the decision of a few firms to collude can significantly impact the market as a whole. Cartels are a special case of e xplicit collusion. Collusion which is not overt, on the other hand, is known as tacit collusion. How is OPEC a collusive oligopoly? Answer:OPEC is a collection of oil exporting countries. Oligopoly – Industry that is controlled by a few major players (firms or countries) Collusion – When industry leaders secretly agree to limit quantities of production. This will guarantee the colluders a higher price for their product OPEC meet to discuss the quantity of oil they will allow onto the world market. This is collusion. Because the OPEC members are the main suppliers of oil they are said to be an Collusion and Cartels by David A. Mayer One of the blessings of competition is that it leads to lower prices for consumers.For the producer, however, this blessing is a curse. Low prices often mean low profits. Given a choice between competition and cooperation, profit-maximizing firms would more often than not prefer cooperation. Regardless of what you learned in kindergarten, yo u do not want the businesses you buy from to cooperate. You want them to compete. Adam Smith, the father of modern capitalism, warned that nothing beneficial comes from the heads of business getting together. In the United States, firms are forbidden from cooperating to set prices or production.The abuses of the late nineteenth and early twentieth century trusts were the impetus for the â€Å"trust-busting† of President Theodore Roosevelt. With the Sherman Antitrust Act and later the Clayton Antitrust Act, the government prohibited outright collusion and other business practices that reduced competition. Prior to OPEC, world oil prices were mainly under the control of the Texas Railroad Commission. With the rise of OPEC came a shift in power from U. S. producers to the oil states of the Middle East. Even though it violates the law, businesses from time to time will collude in order to set prices.Colluding firms can divide up the market in a way that is beneficial for them. Th e firms avoid competition, set higher prices, and reduce their operating costs. Because collusion is illegal and punishable by fine and prison, executives at firms are reluctant to engage in the practice. The meetings of business leaders are almost always in the presence of attorneys in order to avoid the accusation of collusion. Forming Cartels Businesses that collude may form cartels. A cartel is a group of businesses that effectively function as a single producer or monopoly able to charge whatever price the market will bear.Probably the best-known modern cartel is the Organization of the Petroleum Exporting Countries, or OPEC. OPEC is made up of thirteen oil-exporting countries and is thus not subject to the antitrust laws of the United States. OPEC seeks to maintain high oil prices and profits for their members by restricting output. Each member of the cartel agrees to a production quota that will eventually reduce overall output and increase prices. OPEC is bad news for anyone that enjoys cheap gasoline. Fortunately for consumers, cartels have an Achilles heel.The individual members of a cartel have an incentive to cheat on their agreement. Cartels go through periods of cooperation and competition. When prices and profits are low, the members of the cartel have an incentive to cooperate and limit production. It is the cartel's success that brings the incentive to cheat. If the cartel is successful, the market price of the commodity will rise. Individual members driven by their own self-interest will have an incentive, the law of supply, to ever-so-slightly exceed their production quota and sell the excess at the now higher price.The problem is that all members have this incentive and the result is that eventually prices will fall as they collectively cheat on the production quota. Cartels must find ways to discourage cheating. Drug cartels use assassination and kidnapping, but OPEC uses something a little more civilized. The single largest producer in th e cartel is Saudi Arabia. Saudi Arabia also has the lowest cost of production. If a member or members cheat on the cartel, then Saudi Arabia can discipline the group by unleashing its vast oil reserves, undercutting other countries' prices, and still remain profitable.After a few months or even years of losses, the other countries would then have an incentive to cooperate and limit production once again. * Definition: OPEC stands for The Organization of Petroleum Exporting Countries. It is an organization of 12 oil-producing countries that effectively control the world's oil. OPEC members pump out 42% of the world's annual supply, controlling 61% of exports. This situation isn't likely to change, since these 12 countries hold 80% of the world's proven oil reserves. For these reasons, OPEC's decisions are critical to countries that depend on oil imports.What Does OPEC Do? OPEC states quite plainly that its goal is to manage the world's supply of oil. It does this to make sure its mem bers get what they consider a good price for their oil. Since oil is a fairly uniform commodity, most of its consumers base their buying decisions on nothing other than price. What's a good price? In the past, OPEC said it was around $70-$80 per barrel. If prices drop below that target, OPEC members agree to restrict supply to send prices higher. Otherwise, they would wind up increasing the supply to make more national revenue.By competing with each other, they would drive prices even lower. This would stimulate even more demand, and OPEC countries will run out of their most precious resource that much faster. When prices are higher than $80 a barrel, oil-producing countries would naturally want to produce more to bring in extra national revenue. However, if they did that, they increase supply, lowering the price. Instead, OPEC members agree to produce only enough to keep the price high for all members. Furthermore, if prices are too much higher than $80 a barrel, then other countri es have the incentive to drill more expensive oil fields.Sure enough, now that oil prices are closer to $100 a barrel, it's become cost effective for Canada to explore its shale oil fields, and for the U. S. to use fracking. As a result, non-OPEC supply has increased. OPEC's second goal is to reduce oil price volatility. That's because, at current prices and rates of production, OPEC countries have enough oil to last for 113 years. In addition, oil is expensive to produce. For maximum efficiency, oil extraction must run 24 hours a day, seven days a week. In addition, closing facilities could physically damage oil installations and even the fields themselves.Ocean drilling is especially difficult and expensive to shut down. Therefore, it's in OPEC's best interests to keep world prices stable. For example, in June 2008, prices spiked to $143/barrel. OPEC responded by agreeing to produce a little more oil, which brought prices down. However, the global financial crisis brought oil pric es down to $33. 73/barrel in December. OPEC responded by reducing the supply, helping prices to again stabilize. A slight modification is usually enough to restore price stability. OPEC also adjusts the world's oil supply in response to crises and shortages.For example, it replaced the oil lost during the Gulf Crisis in 1990. Several million barrels of oil per day were cut off when Saddam Hussein armies destroyed refineries in Kuwait. OPEC alos increased production in 2011 during the crisis in Libya. The Oil and Energy Ministers from the OPEC members meet twice a year, or more if needed, to coordinate their oil production policies. Each member country abides by an honor system, agreeing to only produce a certain amount. However, if a country winds up producing more, there really is no sanction or penalty.Furthermore, each country is responsible for reporting its own production. Therefore, there is room for â€Å"cheating. † On the other hand, a country won't go too far over i ts quota, since it doesn't want to risk being kicked out of OPEC. Despite its power, OPEC cannot completely control the price of oil. In some countries, additional taxes are imposed on gasoline and other oil-based end products to promote conservation. More importantly, oil prices are actually set by the oil futures market. Much of the oil price is determined by these commodities traders. For more on this, see Why Are Oil Prices So High?OPEC Members OPEC members are Algeria, Angola, Ecuador, Iran, Iraq, Kuwait, Libya, Nigeria, Qatar, Saudi Arabia, UAE and Venezuela. Saudi Arabia alone produces enough oil to materially impact the world's supply. For this reason, it really has more authority and influence than the other countries. Here's a ranking of production by member: 1. Saudi Arabia – 9. 311 million barrels/day. 2. Iran – 3. 576 mb/d. 3. Venezuela – 2. 881 mb/d. 4. Kuwait – 2. 659 mb/d. 5. Iraq – 2. 653 mb/d. 6. UAE – 2. 565 mb/d. 7. Niger ia – 1. 975 mb/d. 8. Angola – 1. 618 mb/d. 9. Algeria – 1. 162 mb/d. 10. Qatar – . 734 mb/d. 11.Ecuador – . 5 mb/d. 12. Libya – . 489 mb/d. (Source: OPEC Annual Statistical Bulletin 2012) Many non-OPEC members also voluntarily adjust their oil production in response to OPEC's decisions. In the 1990s, they learned that increasing their own production to take advantage of OPEC's restraints meant oil prices stayed low, restricting profits for everyone. These cooperating non-OPEC members include Mexico, Norway, Oman and Russia. OPEC History In 1960, five OPEC countries formed an alliance to regulate the supply, and to some extent, the price of oil. These countries realized they had a non-renewable resource.If they competed with each other, the price of oil would be so low that they would run out sooner than if oil prices were higher. This first meeting was held September 10-14 1960 in Baghdad, Iraq. The five founding members were Iran, Iraq, Kuw ait, Saudi Arabia and Venezuela. OPEC was registered with the UN on November 6, 1962. (Source: OPEC Frequently Asked Questions) Article updated March 13, 2013 The acronym OPEC is short for the Organization of Petroleum Exporting Countries. Through its 12 member countries, the group controls nearly 80% of the world’s crude oil reserves and about 45% of its worldwide production.This makes it extremely influential in the market for crude oil and its derivatives, like gasoline and diesel fuels. OPEC member countries include: Algeria, Angola, Ecuador, Iran, Iraq, Kuwait, Libya, Nigeria, Qatar, Saudi Arabia, United Arab Emirates and Venezuela. Most of these countries rely on oil prices to sustain their 408 million combined inhabitants. Consequently, OPEC was designed to unify petroleum policies, ensure price stability and facilitate market efficiency. The Origins of OPEC OPEC was originally started by Iran, Iraq, Kuwait, Saudi Arabia and Venezuela in the 1960s.While their initial o bjectives were reasonable, OPEC was soon labeled a cartel by many Western countries, given its practice of adopting output rationing in order to maintain certain price levels. Similarly, its political motivations have also contributed to its image. In 1973, OPEC became infamous for its oil embargo that punished the United States and Western Europe for its support of Israel against Arab nations in the Yom Kippur War. The resulting shortage led to limits on gas available at gas stations and eventually a worldwide economic recession that saw high unemployment and inflation.OPEC’s Declining Influence In the 1980s, OPEC suffered from a six-year decline in oil prices due to reduced demand and over-supply that led to a glut in the world market. While OPEC lost its unity during the 1980s and early 1990s during the Gulf War, oil prices recovered after the September 11th attacks against the United States and the subsequent invasion of Afghanistan. As of 2011, OPEC continues to publish recommended production quotas designed to increase the price of oil, but member countries aren’t as keen as they used to be on compliance.For instance, one Saudi Arabian official told the New York Times that the country would meet the market’s demand, presumably despite any quotas from OPEC. OPEC Finally Reaches an Agreement In December of 2011, OPEC reached a new agreement on production quotas for the first time in three years. Output from the 12 member states was set at 30 million barrels per day, which was roughly in-line with the supply at the time. The result in the financial markets after the announcement was a muted 1. 8% decline in crude oil futures.OPEC leaders also discussed how to handle the decreased production from Libya after the fall of Moammar Qaddhafi. Shortly after the supply cut, Saudi Arabia stepped in and increased production, which was met with distaste from Iran and Venezuela. The matter was resolved by temporarily eliminating country-specific qu otas until a June 2012 meeting. OPEC’s Influence on Investors While OPEC hadn’t agreed on production targets for some time, primarily due to Saudi Arabia’s opposition, the organization did manage to set a new production target in late-2011 of 30 million barrels per day, which was largely in-line with current production.The agreement could mean more cohesion among its membership and additional quotas imposed down the line. Those trading in the crude oil or derivative markets since the 1970s are very familiar with OPEC’s influence on pricing. If the organization can agree on set prices, their control over a large portion of the market enables them to significantly influence prices. Until 2011, this was largely a non-issue given Saudi Arabia’s opposition to any limits. Key Takeaway Points * OPEC began in the 1960s as a way to control oil prices in countries where oil was a primary source of livelihood for citizens. OPEC turned political in the 1970s a fter the oil embargo and member disagreements hurt its power throughout the 1980s and early 1990s. * While OPEC has struggled with member cohesion, the organization has managed to strike an agreement in late-2011 and will meet again in June of 2012. Definition Collusion occurs when firms in a market chose an optimal level of output for that market in order to maximize total industry profits (Baye, 2006). Collusion typically occurs in the oligopoly market model when the number of firms are few as opposed to many.This can simply be explained by the fact that when firms are working together, the more firms that have to work together the harder it is to make everyone happy. See Wiki page about oligopoly for further information: http://mbaecon. wikispaces. com/oligopoly%26nbsp%3B. See Wiki page about monopolistic competition to see why collusion is more difficult with many firms: http://mbaecon. wikispaces. com/monopolistic+competition. Monitoring the agreement This can be seen in that f irms must monitor one another such that their collusion agreement is kept.This can be accomplished by monitoring the other firms in the collusion agreement. There comes a point at which because there are so many firms in the agreement that the costs of monitoring the other firms outweighs the benefits from the collusion agreement. This monitoring can be seen by the formula n*(n-1) where n is the number of firms in the agreement. If there are six firms in agreement there must be 30 (6*(6-1)=30) monitors to keep everyone aware that all the firms in the agreement are holding to the terms. As the number of firms increase in the market the number of monitors increases dramatically.How collusion occurs The first way collusion occurs is that firms will meet and agree not to steal each others customers, and if one firm tries to steal anothers customers there will be retaliation. This form of collusion is called explicit collusion. Another way firms collude may not involve physically meeting or talking at all. Overtime firms may reach a nonverbal understanding that they will leave each other alone, but if one firms tries to steal customers there are consequences. The second form of collusion just discussed is called tacit collusion.Tacit collusion occurs when the behaviors of the players in the market are learned. If you try to steal customers and get attacked back, eventually your firm will probably stop trying to steal customers. On the other hand if you lower prices in order to steal customers and there is no retaliation, or the retaliation is not effective, tacit collusion will not occur. Legality Collusion is considered illegal within the United States, European Union, and Canada. Collusion falls within the category of antitrust laws/competition laws. These are laws that prohibit anti-competitive behavior and unfair business practices.These laws make certain practices illegal because they hurt the businesses, consumers, or both, typically violating standards of et hical behavior (wikipedia-antitrust, 2006). Tacit collusion because of the fact that it is the learned behaviors of the players in the market is much more difficult to enforce, because specifically there has been no formal agreement, because of this tacit collusion can and does occur today. Questions: Which is not a form of collusion? A. ) The behaviors of a competing firm in the same market of a second firm are learned. B. Two firms meet and agree not to steal one another's customers. C. ) If an agreement has been reached to not steal one another's customer has been breached, retaliation will occur. D. ) One firm lowers prices to compete against another when there was no agreement against it. Answer: D. ) This is just the normal game of business that occurs every day. There is no collusion because one firm is lowering a price without specific knowledge or an understanding that there will be repercussions or action taken or not taken because of this action. In a finite number of gam es collusion will be more likely to occur: A. On the second to last turn. B. ) From the beginning. C. ) Once a tacit understanding of business practices has been reached. D. ) Will not occur because there is no effective punishment method that can be used. Answer: D. ) Will not occur because there is no effective punishment method that can be used. This is because of the ending nature of the finite number of games to be played. Each period the players in the game know what the last period will hold, and because they know the last periods outcome, the second to last game is the last game.It is because the second to last game is now the last game that once again the players know how each member of the collusion will act because there is no punishment that can be effective. This continues on until the first game being played, and each member of the collusion knows that each member will cheat, so collusion will not occur. Sustained collusion is more likely to occur when firms know: A. ) their rivals. B. ) who their rivals customers are. C. ) when their rivals deviate from the agreement. D. ) All the above. Answer: D. ) All the above.This are all reasons why a sustained collusion is more likely to occur. The last reason not listed is that firms must be able to successfully punish rivals for deviating from the agreement. A small firm with 1 outlet and a large firm with 10 outlets decide to collude, the small firm: A. ) is at an advantage because they only have to focus on the big competitor. B. ) is at an advantage because they are now â€Å"safe† from the big competitor. C. ) is at a disadvantage because they have to monitor more locations then the larger firm does. D. is at a disadvantage because they have less bargaining power when the â€Å"contract† needs to be renegotiated. Answer: C. ) is at a disadvantage because they have to monitor more locations then the larger firm does. This is because economies of scale exist within the monitoring act. Th e larger firm only has to monitor the one outlet of its collusive partner. The smaller firm has to monitor the larger firms 10 outlets, which most likely will cost more and be a larger percentage of the â€Å"savings† associated with the collusive agreement.

Maguindanao Massacre

1. The Maguindanao Massacre is the worst case of political feud in the history of the Philippines. It has brought questions on the system of governance of the Arroyo administration, nationally and internationally. Using the tools of analysis discussed in class, analyze the Maguindanao massacre using two (2) tools of analysis of your choice. Explain your answer comprehensively. (50 points) The Maguindanao massacre can be examined by using two tools of analysis discussed in class namely structural and class analysis. The Maguindanao massacre is not just a little killing of the greedy political clans. Through structural analysis, there is the EPC chart, meaning economic, political, and social, in which bigger problems in this case are needed to be tackled. The main root of this incident is the wickedness and hunger for power and money. Andal Ampatuan Sr. knows that he can be in power for a limited three-period only. Fear bothered his mind and for this reason he went to places and people to ask how to stay in the game politically. After going to Malacanang, he discovered that in order to remain in power, he has to hinder the upcoming elections from happening in Maguindanao and not let the Mangudadatus take control of their power, he will do anything to keep their name known and on top, which entered his mind â€Å"Martial law — a condition when no election can be held in the province†. Comprehensively considering the facts and articles that I have read and researched, the Ampatuans indeed were very strategic in setting up this perfect plot, but they left a certain hole in their plan. They were going to kill and secretly bury the Mangudadatus to be reported as missing and the Abu Sayyaf would be the ones to blame, leaving out the thought of Mangudadatu asking for the help of the media, including 30 journalists, which led their brilliant execution to epic failure. It was the Ampatuans who ordered the act and planned the act, but the idea came from a certain person of the president in Malacanang. Second tool of analysis is the class analysis, which consists of the GBM procedure – government, business, and masses. For the government, isn’t it quite odd that these army men take possession of prohibited and expensive armed weapons? Only the government can allow and give permission for these weapons to be used or to be let loose in the country. As we all know that Andal Ampatuan Jr. has strong connections and alliance with the president of the Philippines, Gloria Arroyo. The massacre that happened in Maguindanao terrorizes to block government efforts to draw the investors to create needed new jobs and improve lives in Mindanao. Another business as I analyze it, is the business consisting of the acquisition of guns and heavy firearms, which points back to and is closely related again to the government. For the masses, there are three separate groups that were included and were nadamay – firstly, the innocent victims (the journalists, women, and relatives); second, the Ampatuan clans who murdered those people, and lastly, the citizens of our country who were terrified, shocked and alarmed of the massacre that took place in Maguindano. With the deaths of at least 12 journalists in Monday’s massacre in Maguindanao, the Philippines has earned the dubious distinction as the world’s most dangerous place for journalists to work, according to an international media watchdog. †¦International Federation of Journalists (IFJ) said the country†¦ is the most dangerous place for journalists. The IFJ also scored the Arroyo government for allowing and failing to stop a ‘culture of impunit y’ directed towards journalists in recent years. Before the massacre, the New York-based monitor Committee to Protect Journalists (CPJ) ranked the Philippines as the fourth deadliest country for journalists in terms of reporters’ deaths for 2009. In recent years, the Philippines got as far as the second most dangerous place behind Iraq. †1 2. In relation to the Authentic Christian Humanism, explain how the perpetrators of the massacre promote or violate the framework we use in class. 10 points) First of all, killing is a sin, for that I can say that the perpetrators of the massacre violated one of the commandments of the sovereign God, for it is written in the Scripture â€Å"Thou shall not kill. † What they did in this incident is not humane; they only thought of power and nothing else, they were blinded by the wickedness of money and promoted material and worldly things for themselves. I cannot see any pleasant act in this massacre, what they did is exactly the opposite of being friendly to other human beings. In addition, they commanded private armies to kill innocent lives, for that they didn’t only kill, but because of power, they also risked and damaged the lives of other families. I can say that they violated almost the entire framework that was talked about in class and that the Ampatuans were full of themselves thinking that they can get away with something historical and ruthless as this. 3. The killings of journalists in the massacre had tainted democracy in the country. It is perceived that an increase of extra judicial killings in a country reflects how a society promotes democracy. In line with this, what do you think is the best approach to change this situation? Using the approaches to process of change, what do you think would best work for the country? (30points) For the country, I think the best approach will be the sustainable development, according to the lesson, it â€Å"meets the needs of the present without compromising the ability of the future generations to meet their needs (World Commission on Environment and Development, 1987)†5 and also because this process of sustainable development focuses on 5 aspects namely economical, social, political, environmental, and cultural. I also think it will be effective because this process, according to the class's lesson, â€Å"The sustainable development balances the fulfillment of human needs with the protection of the natural environment so that these needs can be met not only in the present, but in the indefinite future†, and our country is rich in natural resources, if we can only do this I’m sure our country will improve. 4. Among the characteristics of good governance, what do you think is the most essential characteristic our government should have in order to maintain democracy in the country? (10points) Among the 8 major characteristics of good governance, I am torn amongst accountable, transparent, equitable and inclusive, and the rule of law. In my opinion, there is no particular characteristic that can support and completely fill in the missing spot in which the government should have in order to maintain democracy in our country. We talked about good governance in class and our government certainly needs all of the characteristics to have proper democratic system in our country. But if I would weigh the most essential characteristic among them, I would choose accountable. Based on the class’s discussion, it depends upon who is accountable in making certain decisions or actions internally or externally in an institution. And I have learned that â€Å"Accountability cannot be enforced without transparency and the rule of law. † Under this characteristic of good governance, I can say that it is a three-in-one attribute that can help maintain democracy in the Philippines. 5. What is your personal stand on the issue? Give your personal recommendations for the resolution of the issue. (10 points) First of all, being in a government seat means that one is willing to serve the country, become a great example to everyone and to be the voice of the citizens of the country. The government official must be selfless, considerate and knowledgeable that through his service, he is giving back to his country and will whole-heartedly do what it takes to help develop the country’s economy and make the Philippines a better place. If one is blinded and ruled by wealth, power, and the material things of this world, then that person does not stand firm for his values and beliefs. Which brings me to the Ampatuans, in this situation; it is very obvious that it runs in the family and in their blood to be a part of politics, to rule and direct local politics. And the Ampatuans and the Mangudadatus have been political rivals since then. The government must act quickly and stop making this massacre issue fade away like they do in other cases. Ampatuan Jr. thought that by getting their master plan to happen, his problems would be solved. Violence never solves anything. Now that he’s in Manila jail, I hope that justice would be served as soon as possible. And for a lawyer like Fortun to accept his case, proves that money is all he is after and does not show any care for the lives and victims in the massacre. And because of the Maguindanao carnage, I began to be more alert and aware of my surroundings and I should know how and who to vote wisely. I will protect my right to vote, because I believe that my single vote can change the lives of the Filipino people and through that single vote, it can make a difference.Sources: Papa, Alcuin. Philippine Daily Inquirer. Philippines now seen as most dangerous place for journalists. reclaimthemedia. http://www.reclaimthemedia.org/journalistic_practice/ philippines_now_seen_most_dang2548.Najjiah.AsiaFinest.com.http://www.asiafinest.com/forum/lofiversion/index.php/t218089.html. Babel-Fish. Arroyo condemns Maguindanao incident. Nowpublic. http://www.nowpublic. com/world/arroyo-condemns-maguindanao-incident. Gabriel San Rafael. PHILIPPINES: Maguindanao Massacre Has Some Familiar Roots – Part 1. Ipsnew.org. http://www.ipsnews.org/news.asp?idnews=49518.