An Issue Pertaining to Business Ethics Essay Example | Topics and Well Written Essays - 1250 words - 1

An Issue Pertaining to Business Ethics - Essay Example Recent reports have shown that over 10 million men and women in England drink above the recommended guidelines. This obviously means that it will in all possible ways affect their body and mind in a negative way. The guidelines set to drinking have been set by the careful and thorough study of the intake of alcohol and those set limits are not meant to be crossed. These individuals in their practical life, therefore, perform lesser than their capability. It affects their performance, behavior, mental and stress level. They get tired easily and therefore are unable to work for even average work hours. It also causes a greater rate of absenteeism amongst individuals and a company cannot properly function with these conditions. Absent employees and the ones present not working at their best is something an organization should worry about. â€Å"By the principle of utility is meant that principle which approves or disapproves of every action whatsoever according to the tendency it appears to have to augment or diminish the happiness of the party whose interest is in question† (Bentham, 1789). An individual’s actions inside the organization that he is working in, that directly affect the organization need to be paid attention and controlled. It’s for the benefit of everyone that every particular individual behaves in the most appropriate of ways, ways that are ethical. The health profession, in particular, primary care physicians, has long been encouraged to guide their patients’ drinking behavior (ICAP, 2002). Alcoholic behaviors of individuals is an important issue and require urgent attention, reports suggest that around 200,000 people go to work with a hangover. Alcohol also directly affects individuals work behavior. It is reported to promote rude behavior, non-serious attitude and in some cases violent behavior as well.  Ã‚  

Legal Systems in the Civilized World Essay Example | Topics and Well Written Essays - 1500 words

Legal Systems in the Civilized World - Essay Example An oft-heard justification is that you cannot treat hardened criminals with kid gloves or you will be perpetrating crime even further. But this argument has no regard for the fact that even hardened criminals are covered by the human rights guarantees in the Constitution and in human rights conventions. Human rights are inalienable and imprescriptible, and they apply to everyone. The parliament is vested with the power to create laws that have coercive effect. It is essentially in their province to come up with regulations to maintain order and peaceful conduct in the society, while ensuring that a human rights framework is always in place. Over the past two decades, there has been a steady stream of legislation, marking the evolution of Criminal Justice as it is known in the present time.2 Indeed, the constant changes in the Criminal Justice Act reflects the constantly changing public mindsets on crime and its concomitant issues. The Criminal Justice System as it stands now appears to be biased against the accused. For example, Sections 34-39 would effectively allow law enforcement agents to draw inferences from the silence of a person undergoing custodial investigation, as for instance, when the accused "at any time before he was charged with the offence, on being questioned under caution by a constable trying to discover whether or by whom the offence had been committed, failed to mention any fact relied on in his defence in those proceedings."3 This provision whittles down considerably the right of the accused to maintain his silence, and shifts the burden of proof on him. Fundamental and crucial indeed is the basic precept in criminal law that the burden of proving the guilt of the defendant resides on the prosecution.4 The statement of Viscount Sankey LC5 in Woolmington v DPP rings loud and clear: 'Throughout the web of the English criminal law one golden thread is always to be seen, that it is the duty of the prosecution to prove the prisoner's guilt subject to ...the defence of insanity and subject also to any statutory exception'. It is fundamental because it is rooted in the Constitutional guarantee of due process.6 An accused is presumed innocent until proven guilty, and his silence should not be taken against him.7 The importance of the presumption of innocence is discussed in the case of State v Coetzee8, where it was stated: '...the more serious the crime and the greater the public interest in securing convictions of the guilty, the more important do constitutional protections of the accused become. The starting point of any balancing inquiry where constitutional rights are concerned must be that the public interest in ensuring that innocent people are not convicted and subjected to ignominy and heavy sentences, massively outweighs the public interest in ensuring that a particular criminal is brought to book...Hence the presumption of innocence, which serves not only to protect a particular individual on trial, but to maintain public confidence in the enduring integrity and security

Cost of the Good Life Essay Example for Free

Cost of the Good Life Essay Overall wellbeing, an extravagant lifestyle, and wealth all come to mind when I ponder the good life but what does the good life actually cost? At first glance, this seems like a loaded question that requires multiple dissertations in order to answer. I even contemplated whether or not the good life had a cost at all. Breaking the good life into separate topics relieves much of the stress when it comes to giving an answer. In terms of consumerism, the good life is damaging to the environment, places too much emphasis on money, and it dwindles the importance of non-market values. According to Annie Leonard’s â€Å"The Story of Stuff†, our current materials economy is a commodity chain in which goods go from extraction, to production, to distribution, to consumption, and finally to disposal. The system sounds stable but it is actually in crisis. Anyone with a simple understanding of mathematics can tell you that you cannot run a linear system on a finite planet in the real world. In order for us, the consumers, to get all of our fancy products and up-to-date technologies, a process that we turn a blind eye to takes place. At the source of the process, there is natural resource exploitation. â€Å"We chop down the trees, blow up mountains to get the metals inside, use up all the water, and wipe out all the animals.† As consumers, we are running out of resources because we have too much stuff! In the past three decades alone, one third of the planet’s natural resource space has been consumed. We are undermining the planets very ability for people to live here. In the United States, less than four percent of our original forests are left and forty percent of the waterways have become unsanitary. When the resources start to deplete, we do the same thing to third world or lesser developed nations. The erosion of the local environments of these nations and economies ensures a constant flow of natives that rely on the little money they can earn while working in factories. We have become a nation of consumers largely due to planned and perceived obsolescence. Planned obsolescence is the art of designing products that don’t last a long time but last long enough for someone to buy the product again. Perceived obsolescence is changing the design of things to follow trends and keep up with the times. The number one example that people can relate to is the iPhone. If you don’t have the newest and  greatest iPhone, you are a social outcast. While this might be a tad over exaggerated, it’s not too far from the truth. In all actuality, polls show that our national happiness is declining even though we have more stuff than ever before. This is because we have less time for the things that truly make us happy like friends, family, and leisure time. At the cost of our planet and environment, are we really even living the good life? Fritjof Capra of â€Å"Qualitative Growth† said that â€Å"human needs are finite, but human greed is not. The major problems of our time cannot be understood in isolation; they are all interconnected and interdependent.† In our current economy, we have put currency on a pedestal that is far too high for us to reach anymore. Most of the goods that are produced and sold are often unneeded and therefore are essentially waste. Even still, demographic pressure and poverty form a vicious circle that lead to fewer jobs and wider poverty gaps. These are the costs of the good life. Our current global economy is a system striving for unlimited quantitative growth and is manifestly unsustainable as previously stated. Looking again from an ecological standpoint, the bad growth resulting from this system leads to externalizing social and environmental costs, is based on fossil fuels, involves toxic substances, depletes our natural resources, and degrades the Earth’s ecosystems. Harvard professor Michael Sandel adds what I believe to be the most interesting cost of the good life when it comes to affluenza. He argues that over the last three decades, we have drifted from having a market economy to becoming a market society. Although these two seem to be synonymous, they are actually quite different. A market economy is a valuable and effective tool for organizing productive activity while a market society is a place where almost everything is up for sale. By doing this, we have created a way of life in which market values â€Å"seep into almost every sphere of life and sometimes crowd out or corrode important, non-market values.† One of the examples that professor Sandel uses is congressional hearings in Washington D.C.. Lobbyists want to attend these hearings and because the seats are limited, line-standing companies have arisen. Line-standing companies hire homeless people and pay them an hourly rate in order to wait in line just  before the hearing. According to the professor, this is wrong for two reasons. â€Å"In a democratic society, everyone should have equal access to representative government. The other reason it’s wrong is that it demeans representative government.† When it comes to the point where almost everything in our public life is sold off to the highest bidder, something is lost. Money matters more and more in our society. And against the background of rising inequality, money takes a toll on the commonality of our civic life. In other words, we lose a part of ourselves. Do we go so far that we are cheapening important social goods and civic goods that are worth caring about? Society will eventually become a place of narcissistic opportunism where people will be buying their way into and out of positive and negative situations. What is the good life worth? I’ve been struggling with this question a great deal lately. You may or may not be familiar with the term first world problems. They are frustrations and complaints that are only experienced by privileged individuals, typically used as a comedic device to make light of trivial inconveniences. Not having the latest gadget and the newest clothes from a particular store are just a few examples. When I bought something, I failed to realize what I was actually paying. I now know that these consumer goods cost natural resources, valuable money, and so much more. The simplest way I can put it is that the cost of the good life: priceless.

Nature And Scope Of Romanticism In Music Music Essay

Nature And Scope Of Romanticism In Music Music Essay Essay topic: Critically compare the main ideas regarding the nature and scope of Romanticism in music as set forth by Warrack, Samon, Burkholder and Whittall. Then, choosing any three major pieces of 19th century instrumental music critically compare their structure and style in some detail in light of the ideas you have gathered about Romanticism and its influence on musical composition in the 19th century. To set your suitable context, you should also carefully consider the extent to which the formal, tonal, stylistic and aesthetic aspects of the works chosen for study show their indebtedness to the spirit and forms of the preceding Classical period and the ways in which they may comprise a continuation, or a significant modification or even a repudiation of these. The Romantic period took its name from the ancient lingua romana of France. In the 18th century, scholars use the term to refer to free and imaginative (Samson, 2001). Warrack 1987, described Romantic as the period which was adventurous both in subject matter and in its invention. Unlike Classical, the Romantic represents a period of a domination of instinct over reason, of imagination over form, of heart over head. Whittall described in her article that Romantic does not move away completely from classical music, but it give more emphasise of element already present in classicism. Romantic composers tried to make music speak programmatically.There were many features of Romanticism that were distinct from the classical period, however many of them are derived from the Classical root. The most important of the many deriving from the key figure of Rousseau, was a new preoccupation with nature (Warrack 1987). Romanticism also saw an increased focus on melodies and themes. Orchestra was expanded and each instrument had its own role. The emphasis on melody found expression in extensive use of cycle form. New attention was also given to national identity. The Classical era was also one which was highly productive. Music became much more expressive, and the sound and quality of the instruments became more refined. This increasingly led to music being created which was able to evoke emotions and instill character such as none before its time. The combination of these elements has heavily influenced the subsequent development of music to the present time, from the very language of music to our increasing understanding of the link between music and emotions. In the following essay, I am going to discuses the main ideas regarding the nature and scope of Romanticism in music. Also three works of Romantic period will be compared in its formal, tonal and aesthetic aspects which show their repudiation and continuation to the sprit and forms of the preceding Classical period. Part one French Revolution The late 18th and 19th century was a time of political and economic revolution Napoleon Bonaparte became the leader of the Republic in 1799 and conquered most of Europe. Although the Revolution failed, its idea, which included the freedom, reform and a new concept of nation, speed across Europe (Burkholder, 2010). This Revolution had a significant impact on music, the French Revolutionary government supported large choral works and opera with librettos on themes of the Revolution or concerns of the time. Nationalism Because of the struggle of Revolution, Romanticism played an essential role in the national awakening of many central European people lacking their own national states. Revival and reinterpretation of ancient myths, customs and traditions by romantic poets and painters helped to distinguish their indigenous culture from those of dominant nation. The increasing importance of nationalism as a political force in the 19th century was mirrored in music and other arts. Many composers expressed their nationalism by incorporation elements unique to their native culture, such as folk song and dances. Composers used elements of rhythm, melody and modality characteristic of their respective nation (Kamien, 2003). The nationalist music echoed peoples fears, hopes and aspirations; it was the voice of Revolution. This national flavor of Romantic music-whether Polish, Russian or German contrasts with the more universal character of Classical music. Industrial revolution During the Romantic period, there were two major events that transformed Romanticism. New technologies began to transform the economy from a rural to an urban economy based on manufacturing by machines. It made major improvements in the mechanical valves and keys that most woodwind and brass instruments depend on. The new instrument often had a bigger, fuller and better tuned sound. They were played in new ways to produce different tone color. In addition, the development of piano enabled louder dynamic and more varied tone color. At the same time, there was a rise of the middle class. Whereas composers had previously lived on the patronage of the aristocracy, romantic composers often wrote for public concerts and festivals with large audiences of paying customers. Individualism Romantic music puts unprecedented emphasis on self expression and individual equality of style. Many romantic composers created music that sounds unique and reflects their personalities. The Romantics presented boldness over the preceding ages desire for restraint. They promoted the conception of the artist as inspired creator over that of the artist as maker or technical master (Kamien, 2003). Through individualism, the composer would reveal the world in expressing himself, hence the growing importance of expression as a source of aesthetic value, overriding the claims of formal propriety and convention (Samson, 2001). In addition, the changing economy not only made individualism attractive to the newly rich, it made possible a free market in the arts in which composers could play for audience who would pay for their performances. The emphasis on emotion and expressive tone color Romanticism describes the expansion of formal structures, making the piece more passionate. While classical era had strict laws of balance and restraint, the Romantic era moved away from that by allowing artistic freedom, experimentation, and creativity. Expressive, and melody become the dominate feature. The increasing use of dissonance and extended use of chromaticism, the properties of the diminished seventh facilitate modulations to many keys. Wagner and Beethoven also expanded the harmonic languages with un-used chords. In addition, there is a greater harmonic fluidity and longer melodies. The pianos were being used which improved chromatic abilities and greater projection of the instruments of the symphony orchestra (Brooklyn, 2009). The stress on individual also created greater reliance on instrumental color. While new instruments were constantly being added to the orchestra, composers also tried to get new and different sound out of the instruments already used and Berlioz was an expert in doing this. Exoticism Romanticism reached beyond the rational and classicist ideals models. It attempts to escape the confines of population growth, urban sprawl, and industrialism, and it also attempted to embrace the exotic, unfamiliar and distant in modes. Of all the emotions celebrated by the Romantics, the most popular was exoticism. Just as Romantics responded to the longing of people for a distant past, so they provided images of distant places. The distances need not be terribly great: Spain was a favourite exotic setting for French Romantics, for instance. North Africa and the Middle East provided images of Asia to Europeans. Generally anywhere south of the country where one was resided was considered more relaxed, more colourful, and more sensual (Brains, 1998). Romantic age was also a period in which Europeans travelled more than ever to examine far off lands of which they had read. Most native peoples were depicted as lazy. Many male travellers view the women of many foreign lands and described them as more sexually desirable than the women at home, and so they are depicted in fiction, drama, art and opera. At the same time, the imagination was elevated to a position as the supreme faculty of the mind. Not satisfied with the world as given, the artist meddles with reality and creates another reality. It is dynamic, uniting both reason and feeling. The emphasis on the activity of the imagination was accompanied by greater emphasis on the importance of intuition and instincts. Part two Beethoven as a transitional figure Ludwig Van Beethoven was considered the greatest artist of all time. He was aware of Enlightenment ideals; absorbed the music of Haydn and Mozart and absorbed the French Revolution (Burkholder, 2009). His style opened new realms of musical expression and profoundly influenced composers throughout the 19th century. For Beethoven, music was not just entertainment, but a moral force capable of creating a vision of higher ideals. His music reflects his powerful, tortured personality. More than his predecessors, Beethoven tried to unify the contrasting movements of a symphony, sonata, or string quartets. Musical continuity is heightened in his works in several ways. Sometimes one movement leads directly into the next, instead of ending with a pause, as was traditional. A musical bond between different movements of the same work is also created when their themes resemble each other. In his compositions such as the Ninth Symphony, a theme from one movement is quoted in a later movement (Kamien, 2004). Piano Sonata in C minor, Op.13 Beethovens thirty-two sonata are far more difficult than the sonata of Haydn and Mozart. They exploit the stronger, tonally improved piano of Beethovens time. One of his most famous sonatas is the Pathtique. It was written in 1798 when the composer was twenty-seven. The title Pathtique suggests a tragically passionate character in this sonata. Beethovens masterful improvisational powers are mirrored in the sonatas extreme dynamic contrasts, explosive accents, and crashing chords. At the early age of twenty seven, during his early period, Beethoven had already created a powerful and original piano style that foreshadowed 19th century Romanticism. First Movement The first movement of the Pathtique is in the Classical sonata form, but the material is quite different form that of a traditional sonata forms. It begins with a slow introduction common in symphonies. The dotted rhythm evokes the style of the French overture. In this movement, the tragic mood is intensified by dissonant chords, sudden contrast of dynamics and register, and paused filled with expectancy. The slow introduction is integrated into allegro that followed it in imaginative and dramatic ways (Kamien, 2004). Second movement and third movement The second movement is in rondo form. One of the interesting features of the adagio is its range in texture. After having a thick four voice texture in the principal themes, Beethoven temporarily reduces the texture to one voice near the closing B section. The last movement, in C minor, is a rapid and energetic rondo. This piano sonata is dramatic and intriguing. Beethoven drew many new effects from the piano; in addition, he experimented with compositional techniques that he would later expand in the symphonies and string quartets. The name perfectly catches the pieces character full of rhetorical gestures. Hector Berlioz Another important genre of the Romantic period is program music- instrumental music associated with a story, poem, idea or scene. Programmatic orchestral works such as Berliozs Fantastic Symphony depict the emotions, characters, and events of particular story or the sounds and motions of nature (Kamien, 2004). The French Romantic composer Hector Berlioz is known for his symphonies fantastique. This symphony tells the story of an artist gifted with a lively imagination who has poisoned himself with opium in the depths of despair because of hopeless love (Oxford, 2002). He composed this work in 1830 which was his first major work, although there were few of the musical ideas derived from some of his earlier composition but the countless aspect of this score are representative of Berliozs individual musical style. Among them are his rhythmically flexible, characteristically long spun melody of which the ides fixe is a prime example, contrasting harmonies, use of dynamics and instruments (Boston, 2006). First movement The first movement is daydream-passions. The melancholy, passion and fury and jealousy form the subject of the first movement. The form is similar to sonata form of the Classical composition. Through the movement, there is simplicity of presentation of the melody and themes. The most important element in the first movement is the idà ©e fixes. As talked previous, Beethoven had found remarkable ways of unifying large multi movement works, especially in his Ninth Symphony, by recycling motives. Such cyclism had a profound impact on romantic composer. One strategy Berlioz used to unify the symphonies fantastique is to have a melody, which he calls an idà ©e fixe, appear in each of the five movements. The idà ©e fixe were used to represent his beloved. This recurrence of the same theme in every movement of symphony was striking novelty in Berliozs day (Oxford, 2002). Second movement The second movement was titled A Ball. It has a mysterious sounding introduction that creates an atmosphere of excitement followed by harps dominated passage. The harp may symbolize the object of affection; provide the glamour and sensual richness of the ball being represented. The use of instruments to symbolize certain things is a special Romantic feature that was not used in classical period. Third movement In the third movement, Berlioz evokes a mood of loneliness in the midst of nature: a solo English horn is encoded by an oboe an octave higher. No previous symphonic movement had ever begun with a duet between these two instruments (Kamien, 2004). He saves the heaviest orchestration for the last two movements where he depicts the fantastic and diabolical. Though the supernatural had long been dealt with in opera, this is its first expression in an important symphony. Fourth and fifth movement In the fourth movement, Berlioz creates a menacing atmosphere with the opening orchestral sound, a unique combination of muted French horns and brass playing pizzicato chords. In the last movement, the high muted strings and basses begin a succession of fragmentary ideas in contrasting tone color, register and dynamic (Kamien, 2004). From his work, we can see that Berlioz is no doubt the creator of new orchestral sound. He still maintained the form used in classical period, however he also understood the role of timbre and he made the musics importance not just in melody and rhythm but in sound. The weird, never heard before sound and the asymmetrical rhythm made this amazing work a truly romantic manifesto. Brahms and his work Another important composer in the romantic period is Johannes Brahms. He was a master of creating piece of all the traditional form. One of his most famous works is Symphony No.4 in E minor, Op.98. The first movement of this work is in Classical sonata form and is dominated by this expansive opening them. The second movement has an airs of a requiem, it opens with a melancholic sort of fanfare. The rapid third movement is a scherzo in sonata form. This movement is joyful and stomping, which resembled dancing tunes which was famous in Brahmss life time (Kamien, 2004). The fourth movement is the climax of the symphony. It is a type of theme and variation related to the Baroque ground bass form. His use of Baroques variation form is unique in the Romantic symphonic and reflects his strong attachment to the musical past (Burkholder, 2009). Conclusion The Romantic was an important period of transformation into 20th century. The Industrial revolution, individualism, the emphasis on emotion and expressive tone color has all influenced composers in later centuries. In addition, they no longer view themselves as artists writing music to suit their patrons, as earlier composers saw themselves, but as artists expressing their own ideas and feelings (Burkholder, 2009). Romantic is truly an era of greatness.

Franz Kafka :: essays research papers fc

...Once more the odious courtesies began, the first handed the knife across K. to the second, who handed it across K. back again to the first. K. now perceived clearly that he was supposed to seize the knife himself, as it traveled from hand to hand above him, and plunge it into his own breast. But he did not do so, he merely turned his head, which was still free to move, and gazed around him. He could not completely rise to the occasion, he could not relieve the officials of all their tasks; the responsibility for this last failure of his lay with him who had not left him the remnant of strength necessary for the deed.... --from The Trial Franz Kafka, b. Prague, Bohemia (then belonging to Austria), July 3, 1883, d. June 3, 1924, has come to be one of the most influential writers of this century. Virtually unknown during his lifetime, the works of Kafka have since been recognized as symbolizing modern man's anxiety-ridden and grotesque alienation in an unintelligible, hostile, or indifferent world. Kafka came from a middle-class Jewish family and grew up in the shadow of his domineering shopkeeper father, who impressed Kafka as an awesome patriarch. The feeling of impotence, even in his rebellion, was a syndrome that became a pervasive theme in his fiction. Kafka did well in the prestigious German high school in Prague and went on to receive a law degree in 1906. This allowed him to secure a livelihood that gave him time for writing, which he regarded as the essence--both blessing and curse--of his life. He soon found a position in the semipublic Workers' Accident Insurance institution, where he remained a loyal and su ccessful employee until--beginning in 1917-- tuberculosis forced him to take repeated sick leaves and finally, in 1922, to retire. Kafka spent half his time after 1917 in sanatoriums and health resorts, his tuberculosis of the lungs finally spreading to the larynx. Kafka lived his life in emotional dependence on his parents, whom he both loved and resented. None of his largely unhappy love affairs could wean him from this inner dependence; though he longed to marry, he never did. Sexually, he apparently oscillated between an ascetic aversion to intercourse, which he called "the punishment for being together," and an attraction to prostitutes. Sex in Kafka's writings is frequently connected with dirt or guilt and treated as an attractive abomination.

Tobacco and the College-Bound in the New Millennium :: Essays Papers

Tobacco and the College-Bound in the New Millennium Today’s high school and college age Americans will have to deal with the actions and attitudes of those involved in the current debate over tobacco use in America. As today’s and tomorrow’s smokers and non-smokers, we need to understand that aspects of our future are being decided now. What is at risk? Primarily at risk are two things: first, our health and welfare and that of our friends and loved ones, and second, individual liberty. Risks to Health and Welfare The negative health effects of smoking and other tobacco use are well known and documented by nearly every health-conscious organization in the United States. Cancer, heart disease, and most major pulmonary diseases top the list of the most painful and deadly reasons to quit and not to start. It’s estimated that more than one in six deaths in the United States is due to cigarettes alone. More than three million people die every year worldwide from smoking related diseases (Pringle, 44). Besides the mortality statistics are the millions of additional colds, canker sores, cases of chronic bronchitis and incredibly bad breath. Tobacco use is also incredibly financially taxing. Smoking just half a pack a day will cost over five hundred dollars a year if the smoker uses one of the most popular brands, and most young smokers do. Add to that national annual health care costs and lost work revenues totaling seventy billion dollars ($70,000,000,000), and damages from the 38% of accidental fires attributed to cigarettes, and the life-long cost of smoking is easily in the hundreds of thousands of dollars per American smoker (Pringle, 44). Besides the problems smokers cause for themselves, there are others to consider. Exposure to environmental tobacco smoke (ETS), otherwise known as second-hand smoke, is not a significant risk for someone who is only exposed to a couple of hours a week in a neighborhood restaurant. It is, however, dangerous to family and friends who may allow themselves to be exposed for many hours a day so as not to inconvenience a smoker.

Hamptonshire Express: Problems 1-3 Essay

Problem #1 A. How many newspapers should Sheen stock? Use the simulation in the spreadsheet â€Å"Hamptonshire Express: Problem #1† to identify the optimal stocking quantity. What is the profit at this stocking quantity? Optimal Stocking Quantity: 584 Expected profit at Optimal Stocking Quantity: $331.43 B. Verify that the value derived in part (a) is consistent with the optimal stocking quantity in the Newsvendor model = mean = 500 = Standard Deviation = 100 = Overage Cost = $0.20†$0 = $0.20 = Shortage Cost = $0.20†$1.00 = †$0.80 = 1†.8 = .2 ïÆ'   corresponding z†value = .84 . âˆâ€" Problem #2 A. How many hours should Sheen invest daily in the creation of the profile section? The optimal amount of hours Sheen should invest results in optimal profit/day at: 4 hours With optimal stocking quantity: 685 And expected profit/day: $371.33 B. What explains Sheen’s choice of effort level h? Since the marginal cost of her effort is $10/hour and the marginal benefit of her effort is equal to: 8 * 50 = 10 ïÆ'   h = 4 2√ The hours invested will be optimized when marginal cost = marginal benefit, in this case h = 4. C. Compare the optimal profit under this scenario with the optimal profit derived in Problem #1. Optimal Profit in #1 = $331.43 @ 584 units = $0.5675/unit Optimal Profit in #2 = $371.33 @ 685 units = $0.5421/unit Although the optimal profit is increased from scenario 1 to scenario 2 by $39.90 the per unit profit is down by 0.0254/unit produced, however since overall profit is up, the added hours invested is still optimal. Problem #3 A. Assuming h=4 what would Armentrout’s stocking quantity be? Armentrout’s optimal stocking quantity is 516 B. Why does the optimal stocking quantity differ from the optimal stocking quantity identify in Problem #2? Is the result here consistent with the newsvendor formula? The optimal stocking quantities differ because there is a new player involved and new costs associated with overages and shortages. These results are still consistent with the newsvendor formula since the new model looks like: = mean = 600 = Standard Deviation = 100 = Overage Cost = $0.80 = Shortage Cost = $1.00†$0.80 = $0.20 = 1†.8 = .2 ïÆ'   corresponding z†value = †.85 . âˆâ€" C. Now try varying h†¦ How does her optimal effort in this question differ from the answer in question 2? Why? In Question 2, Sheen’s profit is maximized at optimal effort = 4. In Question 3, Sheen’s profit is optimal when h = 2 because her profits are being shared with Armentrout and the amount of hours Sheen invests determines the amount of copies that Armentrout will purchase depending on his demand. D. How would changing the transfer price from the current value of $0.80 per newspaper impact Sheen’s effort level and Armentrout’s stocking decision? Transfer Price Increase from $0.80 to $0.90 = Sheen’s Effort = 2.25 to 3.063 Armentrout’s Stocking Decision = 491 to 459 Sheen’s incentivized to put in more effort and therefore reap more profit but Armentrout’s stock will decline and make less profit if transfer price is increased. Transfer Price Decrease from $0.80 to $0.70 = Sheen’s Effort = 2.25 to 1.563 Armentrout’s Stocking Decision = 491 to 510 If the transfer price is decreased, Sheen’s incentivized to put in less effort because she is making less profit and Armentrout’s stock will increase since his costs are lower allowing him to make a higher profit. E. What conclusion can you draw about stocking and effort levels in a differentiated channel vis†Ãƒ  Ã¢â‚¬  vis an integrated firm that manufactures and retails its product? Stocking and effort levels are optimized throughout the chain in an integrated firm that manufactures and retails it’s products because there is a direct benefit and because incentives are aligned between manufacturing and retailing. They want to put forth the optimal effort to produce the maximum amount of units that will optimize profits. Optimal Profit in Problem #2 @ h=4: $371.33 @ 685 Units with fill rate 98% In a differentiated firm when there is an added level, in this case a level to retail, the manufacturing and retailing parties do not share the same goals, therefore stocking and effort levels are not optimized. Supplier only wants to produce as much as retail will buy at the minimum effort level and retail only wants to buy as much as will make them an optimal profit, I because stocking excess will incur losses. Optimal Profit in Problem #3 @ h=4 @ 516 Units with fill rate of only 86%