Essay about Cults and Sects and Their Influence in...

Cults and Sects and Their Influence in Contemporary Society A sect is a small religious group that has branched off a larger established religion. Sects have many beliefs and practices in common with the religion they have broken off from, but are differentiated by a number of theological differences. Sociologists use the word sect to refer to a religious group with a high degree of tension with the surrounding society, but whose beliefs are largely traditional. A cult, by contrast, also has a high degree of tension with the surrounding society, but its beliefs are new and innovative. Sects, in the sociological sense, are generally traditionalist and conservative, seeking to return a religion to†¦show more content†¦This description led Leo Ryan to visit Jonestown (Home of the movement) in 1978. The visit itself went well, up until the point Ryan went to leave with members of the movement who had decided they wanted to leave with him. Ryan and four others were killed by gunfire at the Port Kiatuma airport by the Temples security guar ds. Fearing retribution, a consensus was later reached by the project members to commit mass suicide. 914 people died; 638 adults and 276 children. Most appeared to have died after drinking a drink which contained cyanide - others however appeared to have been murdered by lethal injection. The coroner said that hundreds of bodies showed needle marks, indicating foul play. Other signs of foul play include bodies found dead due to gunshot wounds. The Peoples Temple and similar incidents (EG; Heavens Gate headed by Marshall Applewhite and Bonnie Nettles in the 1970s) generate a lot of public support for Anti-Cult and Counter-Cult Movements. The Anti-Cult Movement (ACM) consists of individuals and groups who attempt to raise public consciousness about what they feel are extreme danger. As they see it, the threat comes from small, coercive, manipulative groups -- mostly new religious movements. Although they have been largely discredited inShow MoreRelatedReligious Fundamentalism: The Muslims of Different Sects859 Words   |  3 Pagesinterreligious conflicts within the Islam as a religion. There are fundamentally four types or branches of Islam if we may call it as below: Islam followed by Sunnis, Islam followed by Shias, Islam followed by Wahabis, Islam followed by some other sects and groups (Syed B. Soharwardy, 2012). The most striking fact however is that they all claim to be the true Islam and each point fingers at the other Islam as being the Mushrik or the Kafir (pagan). They call each other names that should neverRead MoreReligion Is A Social Institution Essay1378 Words   |  6 Pagesdoes not matter where or what is practiced as long as there is a unified body of believers. Karl Marx in particular looked at religion as a source of conflict, a divisive rather than a cohesive power within society. Marx argued that religion is a tool that helps maintain the status quo in society by making the lower classes content with promises of great rewards in the life after death. Marx is often quoted as saying that religion is the opium of the people. There are four components to religionRead MoreThe Problem of Definition of Religion Essay2618 Words   |  11 Pagesalso worshipping society.  · Worshipping society Durkheim argued that in worshipping God, people are in fact worshipping society. Society is more important and powerful than the individual, just as God is.  · Collective conscience: Religion reinforces the shared values and moral; beliefs - what Durkheim called the collective conscience -that hold society together.  · Collective worship Through acts of collective worship, members of society express, communicateRead MoreReligion And Its Role Of A Peace Keeper By French Sociologist E Ě  Mile Durkheim1501 Words   |  7 Pagespresenting individuals with a shared sense of understanding through the rituals, as well as the belief in a higher power or God. Within a contemporary society, religion is arguably playing a different role to that which it played during the early 20th century, a time throughout which Durkheim’s sociological influence and research was prominent. Contemporary, postmodern societies are far more likely to use and exploit religion in a varying way, for many reasons - technological advances and media takeovers,Read More Roman and Greek Philosophys Influence on Todays Western Culture780 Words   |  4 Pagesthe gods as little more than stories to scare naughty children . They were looking for comfort in uncertain times, and they found philosophy too dry. Many different cults -- of the Great Mother, of Dionysus, of Isis from Egypt, M ithra from Persia, Baal from Syria, Yahweh from Palestine -- became popular. Eventually, the Judaic sect we now call Christianity would prevail. The single most important philosophy in Rome was Stoicism, which originated in Hellenistic Greece. The contents of the philosophyRead MoreGeneral Essay on Chinese Religions2709 Words   |  11 Pageswhich is traditionally dated from 1766 to 1122 BCE, that we find evidence of a developing culture and religious practices. The religion of the Shang was principally characterised by the use of oracle bones for divination and the development of the cult of ancestors. It was believed that the cracks that resulted from burning ox bones or tortoise shells represented messages sent from the gods about a variety of matters such as illness, the weather or hunting. Belief in deities and the practice of theRead MoreA Multi National Organization, And Religion1684 Words   |  7 Pagesmedical practices and its simulated psychiatric practices serve as instruments of brainwashing and its social programs of rehabilitation of drug addicts is not merely a social service but it also increases its membership. Working with the outcasts of society and welcoming them into their church is a sure method of increasing its numbers, because they take in people who have problems in social adjustments and who have no set objectives and purpose in life. To show them that the organization cares for themRead MoreGender Differences in Religious Belief1817 Words   |  8 Pagesdeeply oppressive to women, born from ancient teachings indicating their inferiority to men. Writers like de Beauvoir and Sadwai see religion and religious ideology as playing a part in maintaining male domination that is found in many aspects of contemporary social life. In religious scriptures women take the lesser position; De Beauvoir highlights how scriptures in most religions suggest that â€Å"man is master by divine right† and Aldridge explains how in the Qu’ran women are legally inferior to menRead MoreEssay about Religious Challenges to Constructing a Democratic Iraq3427 Words   |  14 Pagesdemocracy take hold in an Is lamic Iraq? 10 Conclusion 11 References 13 Abstract Islam has been Iraqs dominant religion for centuries. The religion plays an important part in every aspect of Iraqs society, to include its government. 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Highlights of the German Pension Fund Free Essays

There is a legal separation between the employer and the pension institution with the German pension fund.   It offers lifelong retirement benefits. The coverage of biometric risks – and not merely its function as an investment instrument – was one of the social requirements emphasized by the European Parliament but not adopted in the final draft. We will write a custom essay sample on Highlights of the German Pension Fund or any similar topic only for you Order Now The plan guarantees participants a right to their benefits guarantees, a compulsory redemption of contributions, thus the employer guarantees the payment of the retirement benefits in the event that the pension fund should be bankrupted. Members will benefit from timely and accurate disclosure of information. The activities are subject to the monitoring of the Germany Supervisory Authority. Recognition has been given to trying to create a level playing field amongst service providers. The pension fund is the only financing instrument for which the complete subcontracting of biometric risks, asset management and administration is possible. The tax features make it attractive. The German Government adopted the recommendation on tax relief to contributions as well as the deductibility of pension costs as a business expense.   The pension plan makes it easier for internationally mobile employees to transfer their pension rights. I selected German Volkswagen Company and analyzed its pension plan (attached) according to its annual balance sheet.  Ã‚   Volkswagen places pension benefits under the liabilities column on the balance sheet.   The pension benefits plans are under-funded according to the balance sheet. How Volkswagen Accounts for Pension Provisions Financial Reporting PENSION PROVISIONS The actuarial valuation of pension provisions is based on the projected unit credit method in respect of defined benefit plans in accordance with IAS 19. The valuation is based not only on pension payments and vested entitlements known at the balance sheet date, but also reflects future salary and pension trends. Actuarial gains and losses are recognized directly in equity, net of deferred taxes. PROVISIONS FOR TAXES Tax provisions contain obligations resulting from current taxes. Deferred taxes are presented in separate items of the balance sheet and income statement DEFERRED TAXES Deferred tax assets are generally recognized for taxable temporary differences between the tax base of assets and their carrying amounts in the consolidated balance sheet, as well as on tax loss carry forwards and tax credits provided it is probable that they can be used in future periods. Deferred tax liabilities are generally recognized for all taxable temporary differences between the tax base of liabilities and their carrying amounts in the consolidated balance sheet. Deferred tax liabilities and assets are recognized in the amount of the expected tax liability or tax benefit, as appropriate, in subsequent fiscal years, based on the expected enacted tax rate at the time of realization. The tax consequences of dividend payments are not taken into account until the resolution on appropriation of earnings available for distribution has been adopted. Deferred tax assets that are unlikely to be realized within a clearly predictable period are reduced by valuation allowances.   Deferred tax assets and deferred tax liabilities are offset where taxes are levied by the same taxation authority and relate to the same tax period. (Volkswagen 2007) In a defined-benefit plan, the employer guarantees that the employee will receive a definite amount of benefit upon retirement, regardless of the performance of the underlying investment pool. A defined benefit plan promises a specified monthly benefit at retirement. The plan may state this promised benefit as an exact dollar amount, such as $100 per month at retirement. Alternatively, more commonly, it may calculate a benefit through a plan formula that considers such factors as salary and service — for example, 1 percent of average salary for the last 5 years of employment for every year of service with an employer. In the defined-contribution plan the employer makes predefined contributions for the employee, but the final amount of benefit received by the employee depends on the investment’s performance. In these plans, the employee or the employer (or both) contribute to the employee’s individual account under the plan, sometimes at a set rate, such as 5 percent of earnings annually. These contributions are invested on the employee’s behalf. The employee will ultimately receive the balance in their account, which is based on contributions plus or minus investment gains or losses. Examples of defined contribution plans include 401(k) plans, 403(b) plans, employee stock ownership plans, and profit-sharing plans. Cost and liability determined in this way for a pay-related plan are clearly â€Å"insufficient† when compared, for example, to the IAS19 or SFAS87 methodology, but the available deductions are generally more favorable than those allowed for by the various external pension vehicles (support funds, â€Å"Pensionskassen†, direct insurances and also reinsurance contracts for book reserve plans.) â€Å"These approaches have suffered under less favorable tax rules (tax limits on funding or taxation as employee income) or insurance supervisory law with prohibitively high insurance premiums (based on an interest rate of 2.75 percent).† In the United States a retirement plan is usually, tax exempt or tax-deferred.   The employer will contribute along with the employee in most cases towards a fund set aside for the employee’s future retirement benefits savings fund. The employer on the employee’s behalf invests the funds; the employee then receives benefits upon retirement. The employee often has the option for early retirement, but savings benefits for the retirement plan in this case will be at a reduced amount.   There has been a growing concern in recent years in the United States with companies filing bankruptcy and people losing their retirement, thus not all plans are secure investments for retirement. Comparing to American and German pension plans I can say that German pension plans are much stronger, guaranteed and beneficial for retirees. The reasons are probably different state policies. Germany is more socialistic country comparing to America. In Germany social services and benefits are huge comparing to America, for example in Germany healthcare is free and every individual are entitled to receive free healthcare and other medical services. References Volkswagen   (2007).   On the Internet at:     www.edgarscan.pwcglobal.com Volkswagen   (2007).   On the Internet at:     www.gutenberg.org Volkswagen (2007).   Annual Report.   On the Internet at: http://www.volkswagenag.com/vwag/gb2007/content/en/annual_report_2007.html   Volkswagen (2007) .   Annual Report.   On the Internet at: http://www.volkswagenag.com/vwag/gb2007/content/en/annual_report_2007 Volkswagen AG Frankfurt Stock Exchange (2007).  Ã‚  Ã‚   On the Internet at: http://www.reuters.com How to cite Highlights of the German Pension Fund, Papers

JTW Glass Door Manufacturing Firm

Questions: 1. Key objectives that aimed to achieve by JTW.2. Selection for appropriate suppliers.3. SIX major pieces of information included in the Request for Quotation (RFQ) document. Answer: Introduction: This case study is about the first airplane's window manufacturer for both civilian airliners and military aircraft. Now a day glass has limited use in the manufacturing procedure. Mainly acrylic is used now for the window manufacturing purpose; it is much lighter than standard glass. JTW is interested in improving its technology to manufacture acrylic that requires quantity of liquid monomer. Liquid monomer is the principal required raw material to produce acrylic. JTW's head procurement, Mr. Vasseem Ibrahim identified two liquid monomer suppliers one in America and other in the Far East. Procuring raw materials from the international market might create several issues (Barczak 2015). There are many risk management key factors used to overcome these problems. Here this essay will demonstrate different objectives to achieve the aim, several appraisable competitive tendering, criteria to select appropriate suppliers and a weighted point system that are going to be used for the evaluation of quotations from two international suppliers. 1. Key objectives that aimed to achieve by JTW: Mr. Vasseem Ibrahim intended to make direct contact with the foreign suppliers of liquid monomers (Veldman and Schiele 2014). There are certain criteria he should keep in mind during the arrangement of providers. These are discussed below: The quality of the product: The mentioned international suppliers belong to America and the Far East. Therefore, the quality of the product is required to good. There is a difference between acrylic and liquid monomers. Acrylic referred to as high quality plastics. A group of polymers noted for its transparency and elasticity is known as Acrylic. Military airplanes are needed to be highly protected the civilian planes similarly as well. Therefore, the quality of the monomer should be good (Bolton, Gustafsson and Walker 2013). Price: This is an advanced chemical technology introduced to reduce the use of standard glass doors. As the suppliers industry is far from JTW headquarter, the price will be much for the supply (Kinoshita 2012). They do use porters five forces competency model to demonstrate the actual price for commercial benefit. Delivery of the raw materials: The delivery time for the raw material is essential to be fixed by the suppliers. The raw material flow should maintain the SCM (Supply Chain Management) methodology (Bozarth and Handfield 2015). JTW should be aware of the actual delivery time of the raw material so that on the date of manufacturing so such issue will arise. Payments term and after-sales service along with maintenance arrangements: In any business, buyers and sellers both are aware of their profit. There are different delivery methods followed by various organizations. The price should be checked along with the quality of the product. As this is new, chemical technology the service provider will not be available everywhere during the requirement (Bolton, Gustafsson and Walker 2013). Therefore, it is necessary to avail the maintenance arrangement as well. Figure 1: key objectives (Source: DelibaiĆ¡ 2014, pp-72) 1.1 Competitive trending is an appropriate method: Competitive tendering is an appropriate portfolio of products and services. This is awarding the contract to one of the international suppliers of liquid monomers. There are several advantages behind competitive tendering. This level of competition is always established between the same product vendors and the same products buyers. JWT mainly uses the Posters five forces policy to select and reduce the competition market (Ortaboy 2013). They can make bargaining for the selection of the best suppliers. The advantages for competitive trending are discussed below: Benefits of competitive tendering: Mr. Michael Porter introduced the aggressive marketing policy. That includes cost leadership, differentiation, cost focus and differentiation focus (Walker 2013). Reduced cost for the service level agreement that provides more competition rate. This is known as going rate. Another term is called ripple effect. It is a cost reduction methodology by the improvement of public agencies performance in accordance with the responsive competitive environment (Barczak 2015). Revenue of tax, license for authentication, and payment done by the private contractors for the service provided to the public cost id reduced (Bolton, Gustafsson and Walker 2013). Tendering competitive market follows the below steps respectively: In a defined period the government started finding for the competitive tenders to deliver a perfect quantity and effective quality measuring duty. Different contractors are hired to deliver the products during the given time period. Whenever the contractor fails to provide the delivery within the period they have to suffer by penalty (Kinoshita and Tzeng 2012). New service providers are allocated for the buyers and then the procedure move on. 2.0 Selection for appropriate suppliers Identification of vendors: It is important to gather the opinions of stakeholders to define the criteria required for the selection process (Grasemann 2014). The list of speakers includes different members from purchasing, research and development, quality assurance, marketing and many other areas. These reflect on the selection procedure. The cost, delivery, time-duration, maintenance arrangements are the list of features should be the content of an individual supplier. Measurement of supply performance: Once the order is ready for the sellers side as well as from the buyers side it is necessary to measure the performance of the suppliers. Firstly, it is estimated that within the given period whether the vendor can provide the raw material or not (Kinoshita 2012). According to the time, the quality of the product provides is good enough or not. Within the given period, the best quality product is required by JTW. Supplier qualification screening: Screening of providers' qualification is necessary for this field. In this case, the raw material is acrylic, which is lighter than regular glass and costly also (Veldman and Schiele 2014). At the given range both of the international suppliers performances are tested according to that, the selection method should move on. They should communicate well with the dealers with a positive can-do attitude. They should have a mind to attracting and impress the buyers as well. The suppliers must meet more than the minimum requirement of the customers. Improvement Policy: A good provider should have to make an improvement all the time. The American acrylic monomer suppliers' every day improving their technology to make lighter weighted and robust improved windows for the military airplanes. The chemical improvement is quite affordable than the others (Grasemann 2014). Therefore, according to Vasseem American acrylic or semi-liquid monomers producing company should come under deal as the suppliers. A high quality product providing organization will make JTW beneficial. Creation of supply base: The suppliers those have already passed the qualification needs and are suitable for contract awards referred to as the predefined qualified suppliers. Good suppliers are always flexible and reliable as well. They should not uncover significant opportunities. They must maintain the CRM (Customer Relationship Management) chain. Poor consumers can prevent suppliers being good and reach the benefit (Bolton, Gustafsson and Walker 2013). JTW is a well-known organization that manufactures glass windows but now trying to improve its technology by establishing a CRM along with the two acrylic producing firms. 3.0 SIX major pieces of information included in the Request for Quotation (RFQ) document SIX principal parts are including in the application for quotation document. This is needed for every loan application (Grauerholz 2013). The application will be invalid if any of the keys among the six pieces is missed out. These are the fundamental pieces of information required to start the processing of the loan application for the Lender. Again sometimes addition information is also necessary to the lenders (Kawakami 2015). Mr. Vasseem wanted these SIX key pieces of information to assign the loan application to deal with the international suppliers from America and the Far East. Any business appraisal needs the huge investment of money for the commercial benefit. This investment is not possible without bank loans. Real estate attorneys help their clients to avoid the risky situation by making sure the approved application process. The SIX key pieces that are followed by the appraisal the loan are- Name of the consumer Income per month Social security number The property address An estimates value of the property The final loan amount Request for quotation has SIX tool keys that are followed by all business modules. The entities related to the diagnostic tool keys are again interrelated to each other. Here the name of the consumer is JTW (Matyjaszewski 2014). The loan provider will measure the monthly range of income and according to the amount of loan will be decided. 3.1 Suppliers weighted point evaluation method There are certain features required for the evaluation of the right suppliers. Not all the key points are possible to analyze for the selection process, but some of the key points are measured for the assessment purpose (Kinoshita and Tzeng 2012). There are some advantages and disadvantages as well. The benefits include flexibility of the system, allows the ranking of the suppliers; it can moderate the implementation cost, it combines the qualitative and quantitative factors into a single system. The disadvantages include tending to focus on the unit price, in also requires some unit skills. The suppliers evaluation criteria most of the times uses this method of supplier selection (Goetsch 2014). JTW also compares two of the providers' companies' backgrounds. The entire range of status and the total supply chain methodologies that are followed by the firms. Suppliers evaluation and selection have many criteria such as- management capability, employee capabilities, cost structures, t otal quality performance, systems and philosophy, financial stability, environmental regulation and compliances, production scheduling and control system, ecommerce compatibility, suppliers sourcing strategies, and long-term relationship potentials. The entities that are related to the arbitrary point are quality, delivery, price, service and the overall total point (Oostveen 2014). Among these points, the two point distributions are quality and price. For the supplier selection criteria, these are the most important features that come under consideration. JTW glass window Manufacturing Company is planning to establish a connection as a dealer with the international suppliers (Barczak 2015). An assessment of the publication that has been accounted for the JTW leading manufacturer provides MP products and reveals healthy total profit range over the amount of 8 percent till last two years. Conclusion In this study, the researcher focused on the leading glass door supplier organization JTW. They produce glass doors for the military as well as for the civilian airplanes. Now in this competitive market competition is everywhere for survival. There are many other glass doors manufacturer became a contest to JTW (Wassenhove 2013). Similarly, implementation of light weighted glass-like doors called acrylic is becomes another game to JTW. They are trying to produce this kind of glass doors but for that, they need raw material suppliers. The head of procurement of JTW has decided to make a deal with the acrylic producer companies. One of the suppliers firms is in America and other in the Far East. Between these two suppliers, which firm are going to be selected, and the financial department of JTW decides which one to be rejected. According to the behavior of the providers and the right management, the decision is taken. There is SIX diagnostic essential tools information that is used to sanction the loan application. The tools include name of the consumer, monthly income, social security number, the property address, an estimated value of the property, and the amount of loan. References Bozarth, C.C. and Handfield, R.B., 2015.Introduction to operations and supply chain management. Prentice Hall. Chirica, C., 2013. Relationship marketing-best practice in the banking sector.Amfiteatru Economic,15(33), p.288. De Freitas, G. and Sternad, M., Airbus Operations Gmbh, 2013.Device for supporting a door which is pivotably received in a fuselage airframe of an aircraft. U.S. Patent 8,418,961. Dekker, R., Fleischmann, M., Inderfurth, K. and van Wassenhove, L.N. eds., 2013.Reverse logistics: quantitative models for closed-loop supply chains. Springer Science Business Media Fawcett, S.E., Ellram, L.M. and Ogden, J.A., 2014.Supply chain management: from vision to implementation. London: Pearson. Goetsch, D.L. and Davis, S.B., 2014.Quality management for organizational excellence. pearson. He, H., Zhong, M., Luebke, D., Nulwala, H. and Matyjaszewski, K., 2014. Atom transfer radical polymerization of ionic liquid monomer: The influence of salt/counterion on polymerization.Journal of Polymer Science Part A: Polymer Chemistry,52(15), pp.2175-2184. Isik, M., Gracia, R., Kollnus, L.C., Tome, L.C., Marrucho, I.M. and Mecerreyes, D., 2014, August. Cholinium Lactate Methacrylate: Ionic Liquid Monomer for Cellulose Composites and Biocompatible Ion Gels. InMacromolecular Symposia(Vol. 342, No. 1, pp. 21-24). JovanoviĆ¡, B. and DelibaiĆ¡, B., 2014. Application of integrated QFD and fuzzy AHP approach in selection of suppliers.Management, p.72. Kastner, W. and Grauerholz, T., Airbus Operations Gmbh, 2013.Method for manufacturing a fibre-composite component, fibre-composite component and fibre-composite fuselage component of an aircraft. U.S. Patent 8,398,910. Kawakami, T., Barczak, G. and DurmuÃ…Å ¸oÄÅ ¸lu, S.S., 2015. Information Technology Tools in New Product Development: The Impact of Complementary Resources*,.Journal of Product Innovation Management,32(4), pp.622-635. Khodakarami, F. and Chan, Y.E., 2014. Exploring the role of customer relationship management (CRM) systems in customer knowledge creation.Information Management,51(1), pp.27-42. Nguyen, B. and Mutum, D.S., 2012. A review of customer relationship management: successes, advances, pitfalls and futures.Business Process Management Journal,18(3), pp.400-419. Oostveen, A.M., Kaufmann, M., Krempel, E. and Grasemann, G., 2014, July. Automated Border Control: A Comparative Usability Study At Two European Airports. In8th International Conference on Interfaces and Human Computer Interaction (IHCI 2014), Lisbon, Portugal. Ortaboy, S., Acar, E.T., Atun, G., Emik, S., Ä °yim, T.B., Gl, G. and zgmÃ…Å ¸, S., 2013. Performance of acrylic monomer based terpolymer/montmorillonite nanocomposite hydrogels for U (VI) removal from aqueous solutions.Chemical Engineering Research and Design,91(4), pp.670-680. Ozaki, T., Lo, M.C., Kinoshita, E. and Tzeng, G.H., 2012. Decision-making for the best selection of suppliers by using minor ANP.Journal of Intelligent Manufacturing,23(6), pp.2171-2178. Pulles, N.J., Veldman, J. and Schiele, H., 2014. Identifying innovative suppliers in business networks: An empirical study.Industrial marketing management,43(3), pp.409-418. Pyzdek, T. and Keller, P.A., 2014.The six sigma handbook(p. 25). McGraw-Hill Education. Son, S.J., Kim, K.B., Lee, Y.H., Lee, D.J. and Kim, H.D., 2012. Effect of acrylic monomer content on the properties of waterborne poly (urethaneà ¢Ã¢â€š ¬Ã‚ urea)/acrylic hybrid materials.Journal of Applied Polymer Science,124(6), pp.5113-5121. Song, X., Yao, W., Lu, G., Li, Y. and Huang, X., 2013. t BHBMA: a novel trifunctional acrylic monomer for the convenient synthesis of PAA-g-PCL well-defined amphiphilic graft copolymer.Polymer Chemistry,4(9), pp.2864-2875. Tarasi, C.O., Bolton, R.N., Gustafsson, A. and Walker, B.A., 2013. Relationship characteristics and cash flow variability implications for satisfaction, loyalty, and customer portfolio management.Journal of Service Research,16(2), pp.121-137. Tayur, S., Ganeshan, R. and Magazine, M. eds., 2012.Quantitative models for supply chain management(Vol. 17). Springer Science Business Media. Wang, Y. and Feng, H., 2012. Customer relationship management capabilities: Measurement, antecedents and consequences.Management Decision,50(1), pp.115-129. Zhao, Y., Xiao, Y. and Yu, B., 2013, October. Selection of Military and Local Integration Emergency Material Procurement Suppliers Based on Set Pair Analysis Method. InInternational Academic Workshop on Social Science (IAW-SC-13). Atlantis Press.

Production-Possibility Frontier Essay Example

Production-Possibility Frontier Paper Production-possibility frontier In economics, a production-possibility frontier (PPF) or â€Å"transformation curve† is a graph that shows the different quantities of two goods that an economy (or agent) could efficiently produce with limited productive resources. Points along the curve describe the trade-off between the two goods, that is, the opportunity cost. Opportunity cost here measures how much an additional unit of one good costs in units forgone of the other good. The curve illustrates that increasing production of one good reduces maximum production of the other good as resources are transferred away from the other good. edit] Productive efficiency, opportunity cost, and allocative efficiency The production possibilities curve shows the maximum feasible (obtainable) amount of one commodity for any given amount of another commodity, as of the societys technology and the amount of factors of production available. The concept is used to show the options open to a firm, individual, household, or economy for a 2-good world. In microeconomics, the 2-good case readily generalizes to the n-good case. In macroeconomics, it illustrates the production possibilities available to a nation or economy (corresponding roughly to macroeconomic notions of potential output at a given point on the curve) for broad categories of output. All points on a production possibilities curve are points of maximum productive efficiency or minimum productive inefficiency: allocated such that it is impossible to increase the output of one commodity without reducing the output of the other. That is, there must be a sacrifice, an opportunity cost (given by the slope of the curve in absolute value), for increasing the production of a good by one unit. Conversely, points inside the frontier are feasible but productively inefficient. Point A in the diagram for example, shows that FA of food and CA of computers can be produced when production is run efficiently. So can FB of food and CB of computers (point B). For a firm, a point on the curve is productively efficient but, given market demand, could be less profitable than another point on the curve. Equilibrium for the firm with given resources is at the most profitable and productively efficient point on the PPF. There is a parallel for an economy as well. It may have productive efficiency but not allocative efficiency. Markets and other institutions of social decision-making (such as government, tradition, and community democracy) may lead to the wrong combination of goods being produced (and the wrong mix of resources allocated) compared to what individuals would prefer, given what is feasible on the PPF. All points to the right of (or above) the curve are infeasible for given resources. A move from point A to point B indicates an increase in the number of computers produced. But it also implies a decrease in the amount of Food produced. This decrease is the opportunity cost of producing more computers. We will write a custom essay sample on Production-Possibility Frontier specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Production-Possibility Frontier specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Production-Possibility Frontier specifically for you FOR ONLY $16.38 $13.9/page Hire Writer As mentioned, the two main determinants of the curve are production functions (reflecting the available technology) and available factor endowments. If the technology improves or the supplies of factors of production increase, the production possibility frontier shifts to the right (upward), raising the amount of each good that can be produced. A military or ecological disaster might move the PPF inward and to the left. In neoclassical economics, production possibility frontiers can easily be constructed from the contract curves in Edgeworth box diagrams of factor intensity. In other interpretations (often seen in textbooks), the concave production-possibiliity frontier reflects the specialized nature of the heterogeneous resources that any society uses: the opportunity cost of shifting production from one mix to another (e. g. , from point A to point B) reflects the costs of using resources that are not well-specialized for the production of the good which is being produced in greater quantity. The line curve in Figure is not straight but is concave to the origin (that is, curved inward toward the axes). This can represent an assumed disparity in the factor intensities and technologies of the two sectors. That is, as we specialize more and more into one product, the opportunity costs of producing that product increase, because we are using more and more resources that are poorly suited to produce it. With increasing production of computers, workers from the food industry will move to it. At first, the least qualified (or most general) food workers will help start making computers. The move of these workers has little impact on the opportunity cost of increasing computer production: the loss in food production will be small. This cost of successive units will increase as more of specialised food manufacturers are attracted. For example, in the second diagram, the decision to increase the production of computers from 5 to 6 (from point Q to point R) requires a minimum loss of food output. However, the decision to add a tenth computer (from point T to point V) has a much more substantial opportunity cost. The the neoclassical interpretation, if the factor intensity ratios in the two sectors were constant at all points on the production possibilities curve, the curve would be linear and the opportunity cost would remain the same, no matter what mix of outputs were produced. In other interpretations, a straight-line production-possibiliity frontier reflects a situation where resources are not specialized and can be substituted for each other with no cost. Products requiring similar resources (bread and pastry, for instance) will have a nearly straight PPF, hence constant opportunity costs (when increasing production rates). [edit] The marginal rate of transformation The slope of the production-possibility frontier (PPF) at any given point is called the marginal rate of transformation (MRT). It describes numerically the rate at which one good can be transformed into the other. It is also called the (marginal) opportunity cost† of a commodity, that is, it is the opportunity cost of X in terms of Y at the margin. It measures how much of good Y is given up for one more unit of good X or vice versa. The shape of PPF is commonly drawn as concave downward to represent increasing opportunity cost with increased output of a good. Thus, MRT increases in absolute size as one moves from the top left of the PPF to the bottom right of the PPF. Marginal Rate of Transformation If, for example, the (absolute) slope at point BB in the diagram is equal to 2, then, in order to produce one more computer, 2 units of food production must be sacrificed. If at AA for example, the marginal opportunity cost of computers in terms of food is equal to 0. 25, then, the sacrifice of one unit of food could produce 4 computers. The marginal rate of transformation can be expressed in terms of either commodity. The marginal opportunity costs of computers in terms of food is simply the reciprocal of the marginal opportunity cost of food in terms of computers.