Monopoly essay Essay Example for Free

Monopoly essay Essay Monopoly is â€Å"a firm that can determine the market price of a good. In the extreme case, a monopoly is the only seller of a good or service. † (Miller 103) Characteristics of a Monopoly. Are that there is one single seller in the market with no competition and there are many buyers in the market. The seller controls the prices of the goods or services and is the price maker as well. The consumers do not have perfect information on the goods or services. Advantages of a Monopoly. The Monopolies avoids duplications and hence wastage of resources. Enjoys economics of scale, due to it being the only supplier of the product or service in the market, makes many profits and be used for research and development to maintain their status as a monopoly. They also use price discrimination to benefit the weaker economic section of society. To avoid competition, they can afford to invest in the latest technology and machinery. Disadvantages of a Monopoly. Monopolies have poor levels of service, there is no consumer sovereignty, the consumers are charged high prices for such low quality goods, and lack of competition could lead to low quality goods, as well as out dated goods. What is required for a monopoly to earn profits in the long run? First off, any market type can see super normal profits in the short-run. What is more important is what happens in the long-run. Pure monopolies are not the only monopoly that can make profits. Natural Monopoly or a price discriminating monopoly can make profits as well. The only difference between them is â€Å"why† they are monopolies to begin with. Oligopolies are not monopolies, although they do tend to make above normal profits. Monopolistic competition does not yield these types of profits in the long-run. Economic profit goes to zero here in the long-run because there is a lack of barriers here to prevent competition from entering (as there is with perfect competition). If a firm uses economies of scale then I would be talking about a natural monopoly (or a few firms in oligopoly depending on how large or small the minimum efficient scale is). If the MES were small, economies of scale would not be an entry barrier to competition in order to achieve positive economic profits. If the MES were large, large enough to support one firm only, that would be the definition of a natural monopoly. â€Å"In the long run, a monopolistically competitive firm adjusts plant size, or the quantity of capital, to maximize long-run profit. In addition, the entry and exit of firms into and out of a monopolistically competitive market eliminates economic profit and guarantees that each monopolistically competitive firm earns nothing more or less than a normal profit. † (http://www. amosweb. com/cgi-bin/awb_nav. pl? s=wpdc=dspk=monopolistic+competition, +long run+production+analysis). Works Cited Roger LeRoy Miller. Economics Today, Sixteenth Edition. Boston, MA: Pearson Education, Inc. , publishing as Addison-Wesley, 2012, 2011, 2010, 2008, 2006. http://www. amosweb. com/cgi-bin/awb_nav. pl? s=wpdc=dspk=monopolistic+competition,+long-run+production+analysis.

Marks and Spencers Business Strategy

Marks and Spencers Business Strategy Introduction In section A of this report, we will analyse and assess Marks and Spencers (MS) food sector business strategy. In previous consultancy task we examined UK supermarket sector and business environment. That will be crucial in understanding current MS strategic position. Also, it will help us to identify sources of competitive advantage and at the same time opportunities for future strategic positioning. In addition, we have to be aware of companys non-financial performances as well as quantitative corporate objectives and key performance indicators. Analysing them using balanced scorecard and benchmarking method will show us, is our strategy sustainable, does it have long run perspective and direction we are currently moving. This will be covered in part B of this report Part A Strategy can be defined as â€Å"the direction and scope of an organization over the long term, which achieves advantage in a changing environment through its configuration of resources and competences with the aim of fulfilling stakeholder expectations† (Johnson et al. 2005, pp.9). According to Porter (1996) company can do better than other companies only â€Å"if it can establish a difference it can preserve† (Porter 1996, pp.63). Delivering additional value to customers, providing them with comparable products at lower cost or both is a good way to make a difference according to the author. Johnson et al. (2005) presented three Porters generic strategies which could be used by companies to achieve competitive advantage: cost leadership, differentiation and focus. It can be concluded that MS using focused differentiation strategy. According to the Bowmans strategy clock this strategy is seen as high price strategy which gives perceived high value to customers. They choose to differentiate themselves from other food retailers with: top quality own label food, ready prepared meals, fresh food and food for special occasions. They do not attract customers for full weekly groceries shopping but gives them additional value for their money with focus on freshness and quality. Their simply food stores contributed with high margins to overall sales in past few years. Also, they expanded abroad to 40 countries in order to attract new sales into the same niche. This is consistent with Johnson et al. (2005) who explained that growth may be achieved by targeting new sale at the same market niche abroad. In previous consultancy we analyse supermarket sector using Porters five forces framework. That helped us to better understand industry in which MS operates. We concluded that power of suppliers is high due to a lot of supermarkets and brands. Also the threat of substitutes is high because customers now want better value for money. MS is aware of that, especially because that was primary reason for a big decline in sales in 1990. The power of suppliers is low because of huge number of fragmented suppliers. Threat of new entries is on medium level and competition among industry is on high level. The four biggest food retailers in UK (Tesco, Asda, Sainsbury and Morrison) have almost 76% market share. Therefore, MS with 3.9% market share in 2009 cannot compete with lower price strategy. Their focus is more on product quality. The MS food offer ‘has largely focused on the upper end of the mass market, typically higher than its positioning for non-food.'[1] They are selling own brand labels only to their customers which giving them value for money. It helps them in promotion of overall MS brand. The good thing is introduction of some branded goods from 2008, because of higher targeted customers demand. MS food sector strategy lies on companys basic values: Quality, Freshness, and Value, Standards of innovation, Ethical Sourcing and Healthy eating.[2] MS is premium food retailer and food sector is very important to overall group business and performance. It brings over 50 percent of group revenues in UK with sales of  £4.25bn in 2009. Previous consultancy also shows that the most influential trends in broad environment related to food industry are: Food industry was relatively recession proof and these days UK is officially out of recession after six consecutive quarters.[3] High level of inflation in UK (CPI inflation=3 percent) is the reason which contributed to retailers profitability. In 2009, MS reported slightly decrease in margins and profitability. Previous year, they were moving in good direction with initiatives to cut costs (marketing, distribution, support) and reinvest that money in prices to provide better value to customers. The bad thing is reducing capital expenditures for almost 40% which have to create value in future. Increasing number of healthy conscious consumers is a second trend. As a premium food retailer who is selling top quality food, this trend is big strategic opportunity for MS future strategic positioning. In addition to this, survey show that only one in six customers switched to less expensive and frozen food.[4] Today we have environmentally aware consumers. MS is first food retailer who realizes that. Thus, they presented Plan A in 2007 with 100 environmentally commitments to complete within five years. Today, after two years they achieve 39 commitments. This strategy have aim to differentiate their food business from main competitors. Online shopping is also todays trend and opportunity for retailers. They launched MS direct and free wine delivery as a result of growing demand. In 2009 MS market share decline from 4.3% to 3.9% and this is opposite to what board of directors announced in 2008. They predicted growth in market share to 5%.[5] In formulating strategy for next year, they have to take into account few things which will have effect on customers disposable income. From January 2010, we have increase in Value added tax from 15 to 17.5%. Personal income tax will stay at the same level in 2011.This fiscal measure will affect 70,000 people across UK who are now in higher tax band. Additionally we have announced increase in sin taxes for alcoholic drinks. Customers are today spending  £36 per person per week on food in UK.[6] Previous mentioned changes will have certain impact on customers spending habits. Probably they will not cut food expenses, but some products coul be more affected. That is one reason more for MS to provide customers with additional value for money. Part B Balanced scorecard The Balanced scorecard is â€Å"an integrated set of performance measures derived from the companys strategy that gives top management a fast but comprehensive view of the organizational unit.† (Drury 2004, pp.1001). The main question behind the balanced scorecard concept according to Kaplan and Norton (2001) is how to measure future performance. The authors were aware that companies are only in 10 to 30 percent successful in executing its strategy. The main reasons are vision, people, resource and other barriers. For example non-understanding of strategy by employees or management fails to link budget with strategy objectives. Also they realize importance of intangible assets, not capital anymore in adding value to company. In this new business environment focus only on past financial measures (profit, cash flow) and not taking into account non-financial performances such as customer satisfaction could be fatal for organization. The authors presented framework and suggest eve ry company to be viewed from four perspectives: financial, customer, internal business process and learning and growth perspective. All financial and non-financial measures and objectives should be based on companys vision and strategy. That will help managers to have overview over whole processes in company and employees to better understand global firms strategy. We will use suggested framework to support formulation and implementation of Marks and Spencers current strategy. 1. Financial perspective Kaplan and Norton (2001) argue that non-financial perspectives are important but the same is with financial perspective. The reason is simple. Effects from other three perspectives will show their impact through companys financial performances. Marks and Spencer current financial objectives on group level and business unit level are to reduce costs and manage cash flow. In 2009, the effect of broad environment and recession in UK impacted direction of MS strategy. Because of decrease in UK food sector sales and decrease in market share from 4.3% to 3.9 % they choose to reduce costs with aim to keep profitability. Food gross margin was down 235 bps at 31.5%. We can continue to use gross margin as performance measure. Also, we could use profitability measures such as Operating profit, Return on equity, Return on capital employed and net margin which are already being used as MS key performance measures. The results of reducing costs are, reduced spending in support areas and marketing activities of 8.6% without threatening customer satisfaction (stayed at average high level of 84%) and increase of only 1.9% in staff costs. These activities will have impact on profitability in coming years. The target for next year should increase of 10% in mentioned profitability measures. On the other hand, significant cut in capital expenditures of  £450 million h ad immediate impact on companys cash flow from investing activities. MS also have to focus to on how to improve operating cash flow. They decreased cash conversion cycle for almost 6 days.[7] They should further monitor debtor payment period, creditor collection period and stock clearance period (decrease from 8.7 to 4.29 days in 2009).[8] In future, decrease of 10-20 % in stock clearance period and cash conversion cycle could help the company to have stronger cash flow. 2. Customer perspective Main objectives of MS in order to increase market share, acquire new customers and keep customer satisfaction on a high level are to provide customers on targeted market with additional innovation, improved on-shelf availability and to give them additional value for money. The last have roots to year 1935 slogan â€Å"Dont ask the price its a penny†[9]. They took numerous promotions like â€Å"Wise buys†, ‘Family favourites for  £4 and ‘Dine in for two for  £10 during the year. Despite this investing in prices across food range have impact on companys margins, it also provides customers with better value. In 2009 survey, MS is recognized as a leader in top quality food. In future, they should increase ‘wise buys products from existing 10% food range and set target measure to 15%. Also, innovation in products should be continued and monitored with comparing percent of new products in overall products. Relating to on-shelf availability, they already employ more people in stores, open new 75 and close 26 stores with underperforming performances. This trend should be continued because it gives customers more convenience shopping. Customer loyalty, satisfaction and quality customer service are important in future period especially when market share declined 0.4%. 3. Learning and Growth perspective Kaplan and Norton (1996) recognized importance of intangible assets and employees as most important resource company have. In order to keep customers satisfied and loyal, company need to invest in its employees, systems and organizational procedures according to Drury (2004). Therefore, employee satisfaction, investment in employee skill and training must not be overlooked. MS have good communication with employees via MS intranet and employee magazine. The results from employee satisfaction survey ‘Your Say show high response rate (90%) and consistent score with previous years of 70%. Another two measures could be applied to measure employee capabilities- employee retention and employee productivity. Last two derived from employee satisfaction, because only satisfied employee could be productive. Investment in employee skills is recognized as important for MS. Thus, organization of development programme for 2000 lines managers, leadership programme and food academy are vital for future growth and development. The aim to become most sustainable retailer by 2015 they converted into the Plan A. It is also in accordance with Food industry sustainability strategy presented by DEFRA in 2006. They already fulfilled 39 commitments in order to become energy efficient, send no waste to landfill and become carbon neutral. Target of accomplished 15 new commitments per year will keep them on right way to reach this strategic goal. 4. Internal business process perspective According to Drury (2004) internal business process perspective need to give answer on question what business processes will increase value to shareholders and customers and help company achieve its vision at the same time. MS recognizes that investment in innovation process and operation process (decrease distribution costs, maintain supplier satisfaction, increase efficiency in value chain and process quality) are vital to succeed. MS already presented innovation in food from national cuisines (Italian, Chinese etc.) and should monitor percentage of sales from these new products, also compare themselves with competitors (at first place Waitrose who is concentred on the same market niche- top quality food). To excel in innovation field, they should also focus on market products in which they are first or second in the market according to Drury (2004). Innovations in operation process has aim to make more efficient supply and value chain in a company. On one side we have suppliers and customers on other. Already half of 2000 suppliers were trained on MS ethical standards. Distribution costs will be managed with implementation of SAP software and building of domestic and international logistic and distribution centres. Once a build, they will significantly decrease distribution cost and time. Balanced scorecard method (BSC) will help organizations to translate vision into performance measures and improve communication within the company. Also we have to be aware of some limitations of BSC. Othman (2007) argues that BSC is static, ignores external environment and treat company as mechanical system. Drury (2004) describe that empirical study failed to provide evidence that link between non-financial data and financial performance in future exists- which is the assumption of BSC method. Benchmarking There are numerous definitions of benchmarking. One of the first books written about benchmarking providing definition of this method was in â€Å"The search for industry best practices that lead to superior performances† in 1989 by Camp. Until today many definitions emerged but still the most quoted one is from this book that says â€Å"Benchmarking is the search for the best industry practices which will lead to exceptional performance through the implementation of these best practices† (Ungen 2007,pp. 335). In this part, we are going to look at our internal strength and weaknesses, make comparison with our closest competitor in UK market- Waitrose, because both have almost the same market share of about 4% and the same market focus- top quality food. At the end, we will make comparison with Tesco and Sainsbury as a market leaders and see could we use knowledge to improve our operations. Here the aim is to learn from our competitors, not only to compare with them. First we have to understand our internal position- segments we are good at, possible opportunities and segments where improvement is needed. MS differentiate itself with high quality food and at the same time have perception among customers as a top food retailer. It has strong brand for last 125 years, strong internal financial sources and good communication with customers and suppliers. Almost 100% own label food is advantage but at same time could be weakness. So, they start selling branded premium food which they do not produce. Main opportunity is in further expansion to international market. Today, MS has 296 stores in 40 countries with significant 26% increase in international sales. In future, they should expand more as a wholly owned business, not as franchising business. Second, comparison with Waitrose we will start comparing their financial performances because they will show us how successful other perspectives from the balanced scorecard are. An MS food sector sale is down 0.1% at  £4.25bn with loss of market share of 0.4%. On the other hand, in the same period Waitrose increase its sale for 5% to  £4.2bn, market share 0.4% and decrease in operating margin 45 bps to 5.1%. Increase in Waitroses margins is at some part result of 13 Somerfield stores acquired in 2008. Waitrose is also focused on premium organic food brand. Comparing with Waitrose, MS opened 47 stores more and is selling 3600 products more with much more own label food selling. This store opening trend in previous years was primary reason for margin increase but now MS should closely monitor store performance (already close 26 underperformed stores in 2009) and different product lines and replace slow selling products. MS in terms of pricing is above Waitrose and selling almost 1 00% own brand food with products made in UK is major difference from competitor.[10] As a result their sales depends entirely on own label products. In addition to this in 2009 MS made a cut of  £127m in marketing activities which was important for him in food sector positioning.[11] In Corporate social responsibility section, MS is leader with presented 100 commitments plan A. Also partnership with Amazon will help them improve on-line shopping segment. On the other hand, Waitrose presented online food delivery service which could be next step for MS in satisfaction of customer needs. In UK food retail sector, major market share has Tesco and Sainsbury. They both have access to economies of scale and price promotions are fundamental part of their strategy. On the other hand, MS differentiate itself with providing additional value not cheaper price to customers. Despite different in size, MS could use good practice from leaders to achieve better results. Sainsbury launched these days promotion ‘buy now free next time.[12] MS could implement these on 500 wise buys products which are 10 % of range in a one month period and closely look at sales, profit margin and overall financial effect. Also, Tesco since last year increase 29% percent increase in marketing activities.[13] In year where we have 13.8% drop in organic food sale, cutting marketing activities as MS did should be re-examined. Tesco, for example offer double points in order to keep customer loyalty. MS has only 39 outlets out of 668 stores in UK. This number should be increased in future because of rising consumers demand for convenience shopping. Also, search for value and healthier eating will be still in customer focus.[14] Benchmarking can support BSC with recommendations from outside the company how internal, customer and learning and growth perspective could be improved. One of the main critics to benchmarking according to Johnson et al. (2005) it will not identify the reasons for companys good or poor performance. But Benchmarking as a tool have aim to improve companys performance and can support BSC. Therefore, synergy between benchmarking and BSC and implementation of current trends and best practice into organization will improve financial perspective of our company. Conclusion This report showed importance of understanding broad environment and market sector in strategy formulating and implementation. For example, mature supermarket sector in UK is one of the reasons for MSs decision to invest in developing countries in the same premium food market niche. In part B we showed changed focus from capital to intangible assets and from financial to non-financial measure. It is important for MS to monitor all four perspectives in order to have sustainable long- run strategy. Also it is vital for MS to understand what facors influence the financial and operational performance. Therefore, benchmarking and BSC should be used together in strategy formulation and implementation. References: Competition Commission (2000). Supermarkets: a report on the supply of groceries from multiple stores in the United Kingdom. Chapter 5. [online]. Last accessed on 24 April 2010 at www.competitioncommission.org.uk/rep_pub/reports/2000/fulltext/446c5.pdf Competition Commission (2008). The supply of groceries in the UK market investigation. [online]. Last accessed on 23 April 2010 at www.competitioncommission.org.uk/rep_pub/reports/2008/fulltext/538.pdf Department for Environment Food and Rural Affairs (DEFRA) (2009). Food Statistics Pocketbook. [online]. Last accessed on 24 April at www.defra.gov.uk Delpachitra, S. and Beal, D. (2002), Process benchmarking: an application to lending products, Benchmarking: An International Journal Vol. 9 No. 4, pp. 409-420. [online]. Last accessed on 24 April 2010 at www.emeraldinsight.com DEFRA (2010). Recovery, Growth and the Environment. [online]. Last accessed on 25 April 2010 at www.defra.gov.uk DEFRA (2010). UK Food Security Assessment. [online]. Last accessed on 24 April 2010 at www.defra.gov.uk DEFRA (2010). Economic note on UK grocery retailing. [online]. Last accessed on 24 April 2010 at www.defra.gov.uk Department store retailing (2007), [online]. Last accessed on 25 April 2010 at http://academic.mintel.com.lcproxy.shu.ac.uk Drury, C. (2004), Management and cost accounting, 6th edition, Thomson learning, London Food Standards Agency (FSA) (2008). Consumer Attitudes Survey. [online]. Last accessed on 25 April 2010 at www.food.gov.uk/ Food retailing in UK (2009), [online]. Last accessed on 25 April 2010 at http://academic.mintel.com.lcproxy.shu.ac.uk IGD Retail Analysis (2010). IGD Retail Analysis News Tescos growth strengthens. [online]. Last accessed on 25 April 2010 at www.igd.com/analysis/news/index.asp?nid=6634 Johnson, G., Scholes,K., Whittington, R. (2005), Exploring corporate strategy, 7th edition, Pearson education limited, Essex John Lewis (2010). Interim report 2009. [online]. Last accessed 24 April 2010 at www.johnlewispartnership.co.uk/Download.aspx?ResourceId=56427 Kaplan, S. R., and Norton, P. D. (2001), Strategy focused organization, Harvard Business School Publishing Corporation, USA Kaplan, S. R., and Norton, P. D. (1996), Using the balanced scorecard as a strategic management system, Harvard business review, January.February issue, [online]. Last accessed on 24 April 2010 at www.hbr.org Kaplan, S. R., and Norton, P. D. (2001), Building a strategy- focused organzation, Harvard business review, May/June issue, [online]. Last accessed on 24 April 2010 at www.hbr.org Kaplan, S. R., Norton, P. D. and Rugelsjoen, B. (2010), Managing alliances with the balanced scorecard, Harvard business review, January/February issue, [online]. Last accessed on 24 April 2010 at www.hbr.org Kyro P. (2003), Revising the concept and forms of benchmarking, Benchmarking: An International Journal Vol. 10 No. 3, pp. 210-225. [online]. Last accessed on 24 April 2010 at www.emeraldinsight.com Marks and Spencer annual report (2009), [online]. Last accessed on 25 April 2010 at www.marskspencer.com Managing food costs (2009), [online]. Last accessed on 25 April 2010 at http://academic.mintel.com.lcproxy.shu.ac.uk National statistics office, [online]. Last accessed on 25 April 2010 at www.statistics.go.uk Norreklit H. (2000), The balance on the balanced scorecard- a critical analysis of some of its assumptions, Management accounting research, Vol. 11, pp. 65-88. [online]. Last accessed on 24 April 2010 at www.emeraldinsight.com Othman, R. (2007), Enhancing the effectiveness of the balanced scorecard with scenario planning, International Journal of Productivity and Performance Management Vol. 57 No. 3, pp. 259-266. [online]. Last accessed on 24 April 2010 at www.emeraldinsight.com Porte, E. M. (1996), what is strategy?, Harvard business review, November-December 1996. [online]. Last accessed on 24 April 2010 at http://hbr.org/product/what-is-strategy/an/96608-PDF-ENG Retail review, UK (2008), [online]. Last accessed on 25 April 2010 at http://academic.mintel.com.lcproxy.shu.ac.uk Telegraf newspaper (2009), [online], Sainsbury launches first ever buy now free next time promotion, [online]. Last accessed on 25 April 2010 at http://www.telegraph.co.uk/earth/agriculture/supermarkets/6609035/Sainsburys-launches-first-ever-buy-now-free-next-time-promotion.html Telegraf newspaper (2009),Shoppers turning their backs on supermarker own label brands, [online]. Last accessed on 25 April 2010 at http://www.telegraph.co.uk/earth/agriculture/supermarkets/6790854/Shoppers-turning-their-backs-on-supermarket-own-label-brands.html Thompson, L. J. (2003), Strategic management, 4th edition, Thomson learning, London Ungen, C. M., (2007), Manufacturing best practices: implementation success factors and performance, Journal of Manufacturing Technology Management, Vol. 18, issue 3,pp. 333-348. [online]. Last accessed on 24 April 2010 at www.emeraldinsight.com Food retailing in UK (2009,pp.2), [online]. Last accessed on 25 April 2010 at http://academic.mintel.com.lcproxy.shu.ac.uk Marks and Spencer annual report (2009), [online]. Last accessed on 25 April 2010 at www.marskspencer.com National statistics office, [online]. Last accessed on 25 April 2010 at www.statistics.go.uk Managing food costs (2009), [online]. Last accessed on 25 April 2010 at http://academic.mintel.com.lcproxy.shu.ac.uk Marks and Spencer annual report (2009), [online]. Last accessed on 25 April 2010 at www.marskspencer.com Food retailing in UK (2009), [online]. Last accessed on 25 April 2010 at http://academic.mintel.com.lcproxy.shu.ac.uk Marks and Spencer report (2009),Fame database, [online]. Last accessed on 25 April 2010 at https://fame2.bvdep.com/version-2010420/Report.serv?seqnr=0context=GH10NF_cid=159 Marks and Spencer report (2009),Fame database, [online]. Last accessed on 25 April 2010 at https://fame2.bvdep.com/version-2010420/Report.serv?seqnr=0context=GH10NF_cid=159 Marks and Spencer annual report (2009,pp.37), [online]. Last accessed on 25 April 2010 at www.marskspencer.com Department store retailing, UK (2007), [online]. Last accessed on 25 April 2010 at http://academic.mintel.com.lcproxy.shu.ac.uk Retail review, UK (2008), [online]. Last accessed on 25 April 2010 at http://academic.mintel.com.lcproxy.shu.ac.uk Telegraf newspaper (2009), [online], Sainsbury launches first ever buy now free next time promotion, [online]. 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Analyzing What Boudicca Is

Analyzing What Boudicca Is Though the primary sources on Boudicca are fragmentary and limited, it can still be ascertained that she played a major role in the revolt of the Iceni against the mighty foreign power of Rome. Throughout history powerful men have been viewed as threatening, but powerful women such as the late queen of the Iceni are often seen as awe-inspiring. Owing to Boudiccas mistreatment and bravery she rose up against the Roman Invasion endeavouring to seek vengeance and in doing so shaped European history. Boudicca, one of historys most powerful women, suffered rape only vicariously as a mother, but her revenge destroyed thousands. The rebellion of Boudicca has an established and monumental place in British history. Her ability to recruit a brutal Celtic army and massacre thousands in her revolt displays her courage and determination as a leader. The character of this woman and the events of her life, contribute immensely to her importance in history. While over time she has been viewed by dif ferent perspectives, she is most commonly seen as the obvious; a queen, mother, wife and survivor. Boudiccas revolt against the Romans was initially shaped by misfortunes brought upon her life and her family. Among ancient Celts, women were equal to men and held a number of well established rights. Consequently, when Boudiccas husband, Prasutagus, King of the Iceni tribe met his death in 60 AD, Boudicca took her assumed role as Leader and queen. Her husbands will outlined Boudiccas inheritance of the tribe and its land yet the Romans considered this practise illegal and demanded she hand over her wealth and territories. The injustice of such a demand resulted in Boudiccas strong refusal which ultimately led to her arrest, flogging and then the public brutalisation and rape of her two young daughters. Tacitus, senator and historian of the Roman Empire depicted the event in his work, The Annals. He states, His kingdom was plundered by centuries his wife Boudicca was scoured and his daughters outrage. All the chief men of the Iceni as if Rome had received the whole country as a gift, were stripped of their ancestral possessions, and the kings relatives were made slaves.(http://classics.mit.edu/Tacitus/annals.html). This prominent historian outlines significantly the atrocious actions of the Roman Empire and mistreatment of the Royal Family and its tribe. Manifestly, after the assault to her children, her family and her kingdom, it was time to seek vengeance. Boudicca triumphed as courageous female leader and despite the fragmentary nature of sources; there is strong historical evidence which depicts her heroic qualities. In the case of Boudicca, the public lashing she received and the rape of her daughters was a calculated political move on the part of the offending Romans, whose intent was to show the Celts their helplessness against the conquerors. For years Celtic tribes had suffered under roman domination and taxation. They had been driven off their own land and subject to lives as slaves and prisoners. After suffering yet enduring such great offences, Boudicca recruited neighbouring Celtic tribes which without a doubt strongly supported the revolt. Tacitus articulated that even neighbouring tribes which had not yet been cowed by slavery agreed in secret conspiracy to reclaim Celtic freedom. (Annals, 14,31). Cassius Dio, a Roman historian, could not overlook the magnanimity of Boudicca as he romantically depicts her in his literature when he displayed, She was huge of frame, terrifying of aspect, and with a harsh voice. A great mass of bright red hair fell to her knees: she wore a twisted Torc, and a tunic of any colours, over which was a thick mantle, festered by a broach. Now she grasped a spear to strike fear into all that watched her.(www.unc.edu). Without question, Boudiccas larger than life reputation, courageous persona and frightening stance was clearly recognised and depicted strongly in Roman history. Her ability to inspire support from neighbouring tribes in her vengeance in seeking to revolt made her a leader in her own right. Her final speech to her army, retold by Tacitus, displays the motivations of the Celts. Boudicca stated, Roman lust has gone so far that not our very person, nor even age or virginity, are left unpolluted If you weigh well the strength of the armies, and the causes of the war, you will see that this battle you must conquer or die. This is a womens resolve; as for men, they may live and be slaves, and captive.(www.unc.edu). Boudicca expresses that she would rather die than let herself and her tribe fall under the control of the Roman Empire. It is articulated that Boudicca saw the battle as life or death and that women will fight to the very end in the name of vengeance. Despite the fragmentary nature of the sources surrounding Boudicca, it is still evident that her efforts to build and motivate her army display her impact and inspiring leadership qualities. After the rape of her daughters, her own lashing and the outright theft of Iceni lands, Boudicca inspired an army of some 100,000 to break out from the oppression of the Roman Empire. Those who rose up against the Romans were few and far between. Perhaps the most significant factor is that the Roman Legions were far away from the Iceni Lands when the uprising occurred. Roman Governor Suetonius and his army were on the island of Mona and his march would take considerable time to intercept Iceni plans. Consequently, Camulodunum, Romans centre of rule, was attacked by Boudiccas troops and burnt to the ground. With little resistance in Boudiccas path, her army marched on to Londinum which suffered largely the same result as Camolodunum. Boudiccas army slaughtered the Roman people mercilessly. Inspired by vengeance the army marched on. Governor Suetonius described by Tacitus as an officer of distinguished merit, received news of the revolt and gathered 10,000 legionaries and marched them to stop Boudicca in her path of destruction. The exact location of the final battle is unknown but Boudiccas tribe were confident in their triumph against such a small Roman army. What the Iceni army did not have was militaristic training like the Roman soldiers did. Suetonius positioned his army on a hill leaving Boudiccas army to fight uphill, tired and hungry. Cassisus Dio described the Iceni as a swelling army in a battle that lasted all day with Boudicca sending wave after wave of Celts. (www.womenshistory.about.com) Tacitus gives an account of the final battle and tells of the women running around frantically, hair wild, naked and screaming, The Celtic chief was adorned to barbaric splendour with highly ornamental shields of armour. (www.conquest.caeraustralias.com.au) Boudicca was again presented in a heroic light yet her tribe was depicted as unhuman and unsophisticated. This is evident bias as the Romans stood for order and military discipline. Consequently, Boudiccas army were brutally defeated. Boudicca escaped with her daughters and it is believed that they ended their lives with poison to escape punishment and having to submit to the hands of Roman Rule. The Celtic tribes were hopelessly outmatched in militaristic methods yet they represented tradition and religion. Boudicca led a rebellion which literally and metaphorically set Roman Britain ablaze, but in doing so guaranteed the destruction of her people. Regardless of the fragmentary nature of the sources, Boudiccas influence is clear yet her fame in British and Roman history somewhat outweighs her achievements. Cassius Dio expresses the impact of Boudiccas revolt as he highlights, A terrible disaster occurred in Britain, Two cities we sacked, eighty thousand of the Romans and their allies perishedMoreover, all this ruin was brought upon the Romans by a women, a fact which in itself caused them the greatest shame. (M.J.Trow, 2005). Boudicca had clearly made a significant impact, but perhaps the most history making aspect of the revolt was the simple fact that its leader, Boudicca, was a female. Cassius continued to make reference to Boudiccas gender as he articulated that she possessed greater intelligence than what often belongs to a woman. (S.Busby, 2006). The shock to the Romans that a woman caused such a large uprising was evident and contributed greatly to her eminence. In contemporary times, Boudicca, warrior Queen of Iceni, is regarded as a heroine, a leader who stood her ground against foreign invasion. The misfortunes brought upon Boudicca and her tribe resulted in her vengeful seeking war against the Romans. The significant events which destroyed thousands of Romans, is a clear exemplar of her courage and leadership qualities. Despite fragmentary sources she rose as a strong female leader recruiting an outsized army. Her gender along with her achievements contributed immensely to her eminence and important place in history. Her name and history will constantly serve as a brutal yet remarkable reminder of Britains past.

History Of United States Coinage (coins) Essay -- essays research pape

History of United States Coinage Through United States history presidents like Lincoln, Roosevelt, Washington, Kennedy, Eisenhower and others have been displayed on U.S. Coin heads. The United States mint has also been responsible for designs such as the Indian head, the buffalo, and the ever famous lady liberty. Through the years the U.S. Mints have extended into three branches San Francisco, Denver, and Philadelphia (Yeoman, 2001 edition 101). Those branches are responsible for making certain marks on the coins to show that they are not counterfeit. The mints have also come up with what they call their proof standards. Coins have been around for many years, they have had changing mints, designs, and variety's which have all been represented by past events and presidents. The U.S. Mint has it's own standards as in how good of a state the coin is in after wear and tear. The best a coin can ever be is called the proof state which is a specially made coin distinguished by sharpness of the detail and usually with a brilliant mirror like surface (Yeoman, 1999 edition 5). The next state down is the mint state (ms) these coins show no trace of being worn nor blemishes or color loss (Yeoman, 1999 edition 6). Third down is called perfect uncirculated (ms-70) these coins show perfect new condition, showing no trace of wear, no evidence of scratches, handling or contact with other coins, very few regular issued coins are ever found in this condition (Yeoman, 1999 edition 7). The fourth down state is choice uncirculated (ms-65) which is an above average uncirculated coin which may be brilliant or lightly toned and has very few contact marks on the surface or rim (Yeoman, 1999 edition 8). The fifth state down is the uncirculated (ms-60) which has no trace of wear, but may show a number of contact marks, and surface may be spotted or lack some luster (Yeoman, 1999 edition 9). The sixth state down is choice about uncirculated (au-55) it bears evidence of light wear on only the highest points of the design, most of the mint luster remains (Yeoman, 1999 edition 10). The seventh state down is about uncirculated (au-50) this coin has traces of light wear on many of the high points and at least half the mint luster is still present (Yeoman, 1999 edition 11). The eighth state down is choice extremely fine (ef-45) the design is lightly worn through, but all features are shar... ...d for 14 years.   Ã‚  Ã‚  Ã‚  Ã‚  B.The half dollar is worth two quarters in the U.S. .   Ã‚  Ã‚  Ã‚  Ã‚   1.The Walking Liberty half dollar was minted for 31 years.   Ã‚  Ã‚  Ã‚  Ã‚   2.The Franklin half dollar was minted for 15 years.   Ã‚  Ã‚  Ã‚  Ã‚   3.The Silver Kennedy half dollar was only minted in 1964.   Ã‚  Ã‚  Ã‚  Ã‚   4.The Bicentennial Kennedy half dollar was minted for one year.   Ã‚  Ã‚  Ã‚  Ã‚  C.The Silver dollar was the most admired coin in the U.S. Mint.   Ã‚  Ã‚  Ã‚  Ã‚   1.The Morgan Silver dollar was minted for 43 years.   Ã‚  Ã‚  Ã‚  Ã‚   2.The Peace Silver dollar was minted for 14 years.   Ã‚  Ã‚  Ã‚  Ã‚   3.The Eisenhower Silver dollar was minted for seven years.   Ã‚  Ã‚  Ã‚  Ã‚   4.The Bicentennial Silver dollar was minted for one year.   Ã‚  Ã‚  Ã‚  Ã‚     Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  

Nerve Regeneration in the Peripheral Nervous System (PNS) of mammals Es

INTRODUCTION Nerve Regeneration in the Peripheral Nervous System (PNS) of mammals PNS neurons in mammals have a capacity to regenerate and re innervate the target. However functional recovery varies, depending on the type and location of injury, age of the neurons and other factors, but the recovery is never complete. An overview of the regenerative response Following an injury, in the distal nerve stump a series of degenerative processes prepare the right environment needed for an effective regenerative response. The degenerated axons and myelin debris are removed by the surrounding Schwann cells (SCs) and invading macrophages. SCs proliferate and their basal lamina forms the endoneurial tube, through which the new axonal sprouts find their way to the target. The cell body also undergoes dramatic changes, triggered by the lack of signals that are retrogradely transported from the target. Within the cell body, certain genes and proteins are up regulated, such as growth associated proteins (GAPs), tubulin, and actin. Most of the cues involved in axonal regeneration are simi...

Compare Romeo and Juliet Essay

Romeo and Juliet and Pride and Prejudice are two of the most admirable and exquisite works ever written about the struggling love of two opposing forces. The novels have had a great literary importance and give us a sense of love and marriage on its most bewildered journey during the Elizabethan Era and the Napoleonic wars. Even though these two novels are from two different eras and are quite divergent as a result of it, this essay will argue that both Romeo and Juliet and Pride and Prejudice are indubitable similar in the concern of love and marriage. Firstly, this essay will present a short amount of background regarding love and marriage during the Elizabethan era and in the turn of the nineteenth century. Secondly, the essay will talk about the comparison and distinction in love and marriage present in the novels. Thirdly, this essay will discuss and hopefully conclude with the chosen thesis. During the Elizabethan era women were subservient to men and they were raised not to consider otherwise. They were expected to marry whomever the father would hold appropriate. The Scottish protestant leader John Knox wrote â€Å"†Women in her greatest perfection was made to serve and obey man.†( Alchin, L.K. â€Å"Elizabethan Women.) The marriages were arranged to create alliances with other powerful families which becomes the obvious environment in the play about Romeo and Juliet. Love was not significant between a man and a woman. Instead the importance of financial security and a life in everlastingly safety was prioritized through the marriage of a wealthy suitor. In the play by Shakespeare Romeo and Juliet, Juliet is being arranged to marry Paris, a kinsman of the prince, a well suited husband for her despite of her disapproval. As Paris speaks â€Å"God shield I should disturb devotion!—Juliet, on Thursday early will I rouse ye.(kisses her) Till then, adi eu, and keep this holy kiss.† ( Romeo and Juliet, 4.1 William Shakespeare) This is not a marriage for love and this typical prejudice of marriage is also highly present in Jane Austen’s book Pride and Prejudice. One of the characters Charlotte amongst other, is utterly convinced of a socially ideal marriage which was the most common way to unite in the turn of the nineteenth century. â€Å"I am not romantic, you know; I never was. I ask only a comfortable home; and considering Mr. Collins’s character,  connection, and situation in life, I am convinced that my chance of happiness with him is as fair as most people can boast on entering the marriage state.† (Chapter 22. Page 193.† Pride and Prejudice. N.p.: Planet Pdf). Most women decided to marry rather than depend on other family members for financial support. Due to this choice or lack thereof, love and passion were presumed to be less essential in people’s lives. Charlotte’s quote expresses more or less the plight woman had throughout the turn of the nineteenth century. It’s very likely that the Author of Pride and Prejudice, Jane Austen intentionally tried to reveal woman’s position in love and marriage as they were. Shakespeare on the other hand probably had a slightly different agenda which was mainly to please the audiences. All though it is important to not e that Shakespeare presumably wrote about this social decay because he did not approve of what was going on at the time. We might say that this includes the social condition of women and their meager rights in love and marriage. â€Å"Get thee a good husband, and use him as he uses thee.†(All’s Well That Ends Well 1.1.212-13) In Romeo and Juliet the matter of love dominates the play.† My bounty is as boundless as the sea, My love as deep; the more I give to thee, The more I have, for both are infinite. (Romeo and Juliet 2.2, William Shakespeare). Love in this play is simply not one-sided. There is puppy love or shallow love which is the love Romeo has for Rosalie, merely drawn to her appearances’. This view of love is also present in the novel Pride and Prejudice. One of the main characters Mr. Darcy speaks of the woman who later becomes his wife â€Å"She is tolerable; but not handsome enough to tempt me;† (Jane Austen, Pride and Prejudice,Planet Pdf p.14 Ch. 3) Romeo and Juliet and Pride and Prejudice are both acclaimed love stories which center around a man and a woman and their love for each other. The other characters seem to play their important role converging upon these lovers or lovers to be. In both stories we see a strong opposing love due to a distinctness of social class as occurring in Pride and Prejudice between the middle class, the Bennett’s and the Aristocrats Darcy’s and new money the Bingley’s. In Romeo and Juliet the antagonistic love is more defined as a feud between tw o powerful families who will not by any circumstances find peace with each other. â€Å"Two households, both alike in dignity, In fair Verona, where we lay our scene, From ancient grudge break to new mutiny, Where civil blood makes civil hands unclean.† (Romeo and  Juliet, Prologue p.7 William Shakespeare). The House of Montegue and the House of Capulet are the two families who are sworn enemies, never to reconcile until Romeo and Juliet’s deaths. Nevertheless both the novel and the play have in common the opposing forces set in the story. These two main characters should not be together in love as a result of society’s rules. They both defy society’s instructions and give in to love rather than reason. This way of writing was probably intentional by Shakespeare considering the Renaissance period was also about universal order as in Humanism which was a significant factor in general in Shakespeare’s plays.( â€Å"Renaissance Humanism and Shakespeare†.) Both Romeo and Juliet and Pride and Prejudice paint marriage as one of life’s most important choices. Even though this is the case, it is considerably important to envision that Pride and Prejudice has a slightly closer focus on family over husband whereas Romeo and Juliet leans more toward love for husband over family in my opinion. The reason for this is the personalities of the women in the Novel and the Play. Both Juliet and Elizabeth are strong female characters who are being presented as very respectable human beings despite their flaws. In a way we can say that both authors, Jane Austen and William Shakespeare speak for the women at that time and their difficult situations in love and marriage. Passion, love and hate is also a common denominator in these stories. These three words as a whole provide us with an overall understanding of these books. Passion as source of consistency, love as a diversity present in different elements, and hate as an opposition to love to create balance. All though there are quite a few similarities between the novel and the play, there are also a few contrasts present in the books which are important to consider in an analysis of love and marriage. The play Romeo and Juliet has an overwhelming amount of overpowering force of love in it which supersedes everything. The love Romeo and Juliet has for each other is almost obsessive, and self-destructive as a result of it. (â€Å"Love is a smoke raised with the fume of sighs; Being purged, a fire sparkling in lovers’ eyes; Being vex’d a sea nourish’d with lovers’ tears: What is it else? a madness most discreet, A choking gall and a preserving sweet.† ( Romeo and Juliet, 1.1, William Shakespeare.) Romeo speaks of love as he has read in books, but unlikely experienced. Romeo’s passionate feelings develop into a deadly love at the end of the play when the couple’s  tragic destiny prevails and they both die by their own hands. Pride and Prej udice do not have this uncontrollable intense love. The novel focuses more on the achievement of marriage and stability in life, financial and the image of respectability rather than the passionate lusty love. It is important to remember that love is also one of the themes of Pride and Prejudice and that the love in which the main characters Darcy and Elizabeth have for each other at the end of the novel is some of the reasons why this book is so successful. Even though the excessive love is more present in the play about Romeo and Juliet as a result of their lawless passion as archetypal lovers, it is relatively different than what we see in Pride and Prejudice. Both stories have a background of society’s expectation in love and marriage such as Juliet’s arranged marriage to Paris and Elizabeth’s friend Charlotte’s marriage to Mr. Collins an overbearing, and ridiculous heir to the entailed Bennett’s estate. In the play about Romeo and Juliet they are being referred to as star-crossed lovers â€Å"Where civil blood makes civil hands unclean. From forth the fatal loins of these two foes .A pair of star-cross’d lovers take their life; Whose misadventur’d piteous overthrows. Doth with their death bury their parents’ strife.( Romeo and Juliet, the Prologue. p.7, William Shakespeare,) The stars functions as an opposition to Romeo and Juliet’s destiny and is there-for an indicatio n of a not intended universal love as we can see clearly at the tragic end of the play followed by the death of the two young lovers. Pride and Prejudice have a slightly different ending. It has lot more satisfying completion where the two main characters finally can live a fulfilled life together despite the society’s heavy burden of commandment which the reader of the novel was most likely able to anticipate through-out the novel. We see that Romeo and Juliet and Pride and Prejudice have an evident distinction at the end of the two books towards the consideration of meaning. Clearly Romeo and Juliet is a forced equation whereas Darcy and Elisabeth are more likely to be predestined. By analyzing some of the similarities and contrasts in love and marriage in the two books I find the similarities no more substantial than the contrasts. This might be a result of the underlying elements that keep on grasping the connections as we see it. Some of the leading aspects of this influence are the love against all odds in Romeo and Juliet versus the more  predestined version in Pride and Prejudice. Another important element is shallow love which presents it-self in both books through the ignorance of the characters. We see similarities in the society’s established rules of marriage and the characters capability to oppose to these â€Å"decrees†. Then again there is an over-powering and obsessive force of love in Romeo and Juliet which is not accounted for in Pride and Prejudice. Due to these almost completely balanced analogies and divergences I cannot conclude with the chosen thesis and instead I accept the equity of exceptional authorship. Work cited Alchin, L.K. â€Å"Elizabethan Women.† Elizabethan Women. Www.elizabethan-era.org.uk, 16 May 2012. Web. 13 Feb. 2014. Shakespeare, William, Barbara A. Mowat, and Paul Werstine. The Tragedy of Romeo and Juliet. New York: Simon & Schuster Paperbacks, 2011. Print. Austen, Jane. Pride and Prejudice. N.p.: Planet Pdf, n.d. Http://www.planetpdf.com/. Planet Pdf. Web. 13 Feb. 2014. â€Å"All’s Well That Ends Well: Entire Play.† All’s Well That Ends Well: Entire Play. Http://shakespeare.mit.edu/allswell/full.html, n.d. Web. 14 Feb. 2014. â€Å"Renaissance Humanism and Shakespeare.† Http://www.saylor.org/site/wp-content/uploads/2011/11/SAYLOR.ORG-ENGL401-RENAISSANCE-HUMANISM-SHAKESPEARE.pdf. The Sailor Foundation, n.d. Web.

Past Year Question Essay

PART A Public Awareness is the Key to Fight Pollution Pollution in the most basic form – littering of rubbish or clogged drains – to that of higher level such as dumping of hazardous waste and illegal logging, is chiefly attributed to lack of public awareness, so contends Minister of Natural Resources and Environment. As Malaysia joins the ranks of industrialized nations, pollution is fast becoming a menace that the country has to cope with. ‘No amount of law can succeed in deterring people from polluting the environment so long as they are unaware about the adverse consequences of their action,’ he said. ‘Although we have come down hard on the culprits, we can never be satisfied as we keep on raising the bar by benchmarking against developed nations in the likes of Japan, Sweden and New Zealand where every citizen is fully aware of their role in environmental preservation,’ he adds. As for water pollution, once a source of drinking water, many rivers in Malaysia have become dumping grounds for various types of hazardous wastes. Of all natural resources, water is the most severely threatened by pollution in this country. In 2006, gypsum, oil and hydrocarbon, dross, heavy metal sludge, mineral sludge and e-waste were the main categories of waste produced in the country. Of the total wastes produced, 110,814 metric tonnes were treated and disposed at Kualiti Alam Sdn Bhd, 9,360 metric tonnes (0.8%) at Trinekens (Sarawak) Sdn Bhd and 11,364 metric tonnes were incinerated at licensed off-site facilities. Source: Malaysian Business 16/9/2007 QUESTION 1 a) â€Å"As Malaysia joins the ranks of industrialised nations, pollution is fast becoming a menace that the country has to cope with†. Based on your knowledge on the Materials Balance Model, explain this statement. (5 marks)  © Hak Cipta Universiti Teknologi MARA CONFIDENTIAL CONFIDENTIAL 3 BM/OCT 2010/ECO656/646 b) Water pollution in Malaysia is caused by point and non-point sources. What is the difference between the two? Which classification does the group of water pollution sources mentioned in the last paragraph of the article belong to? (5 marks) What type of pollution control method can be implied from paragraphs 2 and 3 in the article? Describe the method and give an example. (5 marks) â€Å"Pollution †¦ is chiefly attributed to lack of public awareness†. Assuming you are an environmental economist, do you agree or disagree with the statement? Elaborate. (5 marks) c) d) e) What is the difference between positive and normative economics? Suggest one sentence in the article that reflects a positive statement. (5 marks)  © Hak Cipta Universiti Teknologi MARA CONFIDENTIAL CONFIDENTIAL PARTB 4 BM/OCT 2010/ECO656/646 QUESTION 1 a) What is sustainable development? Define and illustrate with an example. (5 marks) b) How is green gross domestic product (GDP) different from the traditional GDP? What are the arguments for the use of green GDP as growth indicator? (10 marks) With the help of relevant diagram, explain social welfare in the form of consumer surplus. (10 marks) c) QUESTION 2 a) What is meant by allocative efficiency? Explain. (5 marks) b) How does a deposit-refund system work in controlling domestic solid waste disposal? Explain with the assistance of a diagram. (10 marks) Define deforestation and its causes. Why is accelerated deforestation a concern in many countries? (10 marks) c) QUESTION 3 a) Describe the occurrence of global warming. (5 marks) b) What are the challenges faced by countries in reducing greenhouse gas (GHG) emissions in their countries? Explain. (10 marks) Explain the efforts done at international level to reduce ozone depletion problem. (10 marks) c)  © Hak Cipta Universiti Teknologi MARA CONFIDENTIAL CONFIDENTIAL QUESTION 4 5 BM/OCT 2010/ECO656/646 a) Market failure can be associated with externalities. Define market failure and externalities. (5 marks) Explain how free-ridership leads to market failure of a public good such as clean air. (10 marks) b) c) Palm oil refineries generate social cost to society in the form of smoke and particles. Explain and model in a diagram the efficient equilibrium for palm oil in the presence of these atmospheric emissions. (10 marks) QUESTION 5 Briefly explain the following: a) b) c) d) e) Explicit and implicit environmental costs (5 marks) Coase theorem (5 marks) Environmental Kuznets curve (5 marks) Polluter-Pay-Principle (5 marks) Acid deposition (5 marks) END OF QUESTION PAPER  © Hak Cipta Universiti Teknologi MARA CONFIDENTIAL