†REFLECTION Monitoring and Ensuring Quality Care

– REFLECTION Monitoring and Ensuring Quality Care Introduction The purpose of this paper is to reflect on a recent personal experience of patient care, which enabled me to achieve a module 9 competency, Actively seeks to extend own knowledge. I will be critically analyzing one nursing practice incident using Boud, et al (1985) model of reflection, (please see appendix 1) which will enable me to monitor and ensure quality patient care in future practice. The nursing incident happened when I was looking after a patient requiring enteral tube feeding (ETF). It is important to note that all confidential information relating to patients, wards, hospitals and professional colleagues has not been included in this paper to ensure ethical practice and adherence to the NMC code of professional conduct, section 5 which affirms that I must guard against breaches of confidentiality (NMC 2008). Reflection is a useful tool for the continuation of professional development among nurses (Somerville and Keeling 2004). The word reflection originates from the verb reflectere which means to bend or turn backwards (Hancock 1998). It is a tool, which unlike text books and videos, does not have a limited shelf-life, it is cost effective, is portable and can be used world wide. Patient Profile The aspect of nursing care I have chosen to reflect on is the care of a patient who required enteral tube feeding (ETF) due to dysphagia a condition in which the action of swallowing is difficult to perform (Unison Health Care 1998). This nursing intervention was essential for a patient in my care, who I shall call John. Please see appendix 2 for Johns past medical history. The Plan of Treatment for John John was admitted to my area of practice six days ago following his CVA. He is receiving ETF via an NG tube as an immediate intervention and is being assessed to see if he is a suitable candidate for a percutaneous endoscopic gastrostomy (PEG) tube which are used as a more permanent form of enteral tube feeding (Holmes 2004). The nasogastric tube is about 22 inches [55.9cm] in length (Holmes 2004) and was inserted into his left nostril down through the pharynx, through the oesophagus and through the cardiac sphincter muscle and into the stomach (Marieb 2001). Food can be administered through the tube directly into the stomach and the swallowing process does not need to take place. The food is administered by a pump that controls the amount of feed given in mls per hour. This description could sound as though ETF is always safe and effective and has no complications. Elia (2001) affirms that ETF is typically safe and easy to administer. However John did experience a number of difficul ties that could have been rectified sooner than they were. On reflection of Johns care it is clear to see (with the benefit of hindsight) that if Johns care was managed differently and if complications were noticed and acted on promptly, his hospital experience could have been very different. 1.) Returning to the experience Problems John faced. John experienced two main complications as a result of ETF. The first was regurgitation of the feed into his throat and mouth and the second was diarrhoea. The rate of the feed had been increased over a period of days to its optimal rate, following the ETF guidelines provided by the NHS trust that I was working in. The infusion was commenced during the night while he was sleeping to allow John greater freedom during the day as he could be disconnected from the pump. The regurgitation happened during the first night that the pump was running at the optimal flow rate. Davis and Shere (1994) report that regurgitation is a common complication of ETF. As a consequence, John had to swallow what had come up into his mouth. The rationale for John to undergo enteral tube feeding was to prevent further weight loss and aspiration which can be caused by dysphagia (DeLegge 1995, Gibbon 2002 and Davies 1999). Aspiration has various meanings, however in this context it refers to the movement of for eign material i.e. fluids or food, into the trachea and further down into the lungs (Unison Health Care 1998). This can occur when the swallowing mechanism is ineffective or impaired. Infection of the lobe of the lung, in which the foreign material has lodged, occurs. This is called aspiration pneumonia (Unison Health Care 1998). Patients suffering from dysphagia are at risk of developing aspiration pneumonia (DeLegge 1995 and Gibbon 2002). ETF was commenced to overcome this risk but now the very intervention that was intended to eliminate the risk has caused an even greater risk of aspiration pneumonia. According to Marieb (2001) there are two stages of deglutition (swallowing). The buccal phase, which is a voluntary action, occurs in the mouth and is the first phase of deglutition. The tongue progressively elevates anteriorly to posteriorly, propelling the bolus through the oral cavity. When the bolus has moved to the base of the tongue, the soft palate is raised, preventing food from being regurgitated via the nasal passage (Davies 1999). The second is the involuntary pharyngeal-oesophageal phase which Davies (1999) describes as a complex sequence of muscular movements. After a CVA the ability to initiate the secondary phase of deglutition can be disrupted resulting in ineffective or complete failure of this phase of deglutition. This short explanation of pathophysiology demonstrates how important it is to know nursing rationales for nursing interventions. Patients suffering from dysphagia can sometimes overcome the problem by eating a pureed diet and drinking thickened fluids, but this depends on the severity of the dysphagia (Stringer 1999). John needs ETF because his dysphagia is too advanced to be overcome by a change in diet. Arrowsmith (1993) recommends that patients who are receiving ETF via a NG tube that are lying in bed, should have their head and shoulders elevated 30-40 degrees during feeding and up to one hour afterwards to minimise gastric pooling and reflux of the feed. This example demonstrates how a simple action can make a substantial impact on the quality of care that they experience. It has the twofold purpose of Impact of the quality of care that they experience. It has twofold purpose of promoting the effectiveness of the intervention and minimises harm to the patient by reducing the risk of aspiration pneumonia. Assessing for signs of aspiration in a patient suffering from dysphagia should always be taken seriously by nursing staff. Stringer (1999) reports that if dysphagia is serious enough it can prevent the victim from swallowing their own saliva. The average person swallows approximately 590 times each day 146 when eating, 394 when awake and not eating and 50 times during sleep (Davies 1999). With the average person swallowing literally hundreds of times each day, patients are at risk of aspirating (on their own saliva) regardless of ETF. Barer (1989) found that over one third of conscious acute stroke patients admitted to hospital had unsafe swallowing. Davies (1999) citing Ellul and Barer (1994) affirms that dysphagia in the first three days after stroke is associated with a five to tenfold increased risk of chest infection during the first week. This is due to varying degrees of aspiration. Aspiration is a potentially fatal complication of ETF. John also experienced three episodes of diarrhoea since starting ETF. John was only provided with a commode which was only dealing with the symptoms rather than treating the cause. No contact was made with the senior house officer or dietician. Furthermore there did not appear to be much concern among the nursing team and there was no discussion or sharing of knowledge between colleagues accept what came from myself. I told my mentor what I had been reading during my reflection time and pointed out some reasons that have been identified as causing diarrhoea for patients receiving ETF. The attitude of my mentor was apathetic, and commented, Hes bound to pick up a bug, give it time, it will pass. This shocked me as Somerville and Keeling (2004) reports that the nursing profession depends on a culture of mutual support, and this was not what I received from my mentor. I wanted to discuss the temperature of the feed, his current medication and the cleanliness in which the feed was prepared and administered. If the feed is too cold when it is administered it can cause diarrhoea (Arrowsmith 2003). Howell (2002) reports that diarrhoea can be the result of ETF but it can also be due to the side effects of medications. Antibiotics can cause the common side affect of diarrhoea (BMA 2001) but John was not receiving any. Diarrhoea in ETF can also be caused through the introduction of bacteria through poor hygiene standards in the preparation and administration of the feed; however the preparation and administration does not need to be performed aspptically. This is only indicated if the patient is immunocompromised (Arrowsmith 1993). My professional knowledge reminded me that I could not dismiss the diarrhoea as a coincidence. If there were nursing interventions that could be used and I didnt use them, I would be failing to provide quality care for my patient. Nurses are responsible not only for their actions but also for their omissions (NMC 2008). I wanted to refer to each others professional knowledge through discussion, and to the ETF guidelines to see if there was a simple cause to the problem that could be rectified before consultation with the doctor or dietician became necessary. I was able to rule out most factors that can cause diarrhoea. This led me to believe that the infusion rate could be too fast. These are the factors that I wanted to discuss with my mentor so I could contact the dietician to seek help from the multidisciplinary team. Gibbon (2002) asserts that stroke care requires the services of a multi-professional te am, working towards an agreed therapeutic plan hence my reason to collaborate with the dietician. 2.) Attending to feelings What did I feel was Positive? During reflection time I was very interested and pleased to find this research to suggest that there could be something that I could do to put an end to the discomfort, distress and potentially disastrous complications of a patient in my care. Many times as a student I have felt that I personally, am not making a great difference to my patients health and wellbeing as I am not working independently, but under my mentor who in general decides on a course of action for our patients. This time I have found the answer from my own research. All that remains is for me to bring this research to my mentors attention and then put the intervention into practice. The patient will benefit, and I will have a great sense of achievement as I will have, in a small way, improved the quality of someones life, accomplishing one of the reasons why I decided to take a career in nursing. Attending to feelings What did I feel was Negative? In response to the apathy that I encountered, I felt disappointed and powerless and undervalued. My original mentor was off on temporary short term sickness due to a small operation and therefore I was allocated another Junior Ward Sister to take her place for the short period of time in her absence. I felt disappointed because my contribution to the care of my patient was not welcomed and that this mentor was not as patient or interested in my learning and on-going development. I also thought it was unfair because I had evidence to base my suggestions on. It was not a vague idea I had conceived but it was grounded in research. I felt powerless because as a junior and inexperienced member of the team I felt I had little influence over the overwhelming hierarchy. Morris (2004) states that student nurses possess little power because they are viewed as inexperienced. I wanted to make my mentor realise that the patient could be suffering (from diarrhoea and regurgitation) because of our negligence and not from inevitable causes. Why was Cognitive Learning Being Achieved? In this situation I was learning a number of things, mainly relating to communication, team work, assertiveness, accountability and responsibility. I learned that my priority is with the care of my patient and not with my popularity among colleagues, just as the NMC (2008) signifies when it states when facing professional dilemmas, your first consideration in all activities must be in the interests and safety of patients. When I met with my original mentor on her return back to work we discussed this incident of practice and she praised my efforts in extending my knowledge to improve patients care. I therefore achieved the competency, actively seeks to extend own knowledge. Do Any Barriers to Learning Exist? The barriers that existed to my learning were the apathy of the nurses and the limits of my own assertiveness. It was very hard on this ward to feel proud of the care that was being given. The ward was poorly staffed, the ward manager was unanimously unpopular, the ward relied heavily on agency staff that was not familiar with the ward and my temporary mentor wanted to leave nursing because of all of the above (and more). As a new and enthusiastic team member I found my self fighting against the low morale and low motivation of the current staff. Job satisfaction can impact on the care that nurses provide. Brown (1995) believes that when nurses enjoy good job satisfaction they provide a higher standard of care to their patients. Rohrlach (1998) and Govier (1999) cited by Kitson (2003) discovered that nurses who were happy with the care they were giving were more likely to stay within the clinical area which would in turn provide some stability and security within the workplace. Accor ding to this research, the inability to give quality care (due to the problems mentioned) was resulting in low morale. The dilemma I faced was as follows. I had already approached my mentor once regarding Johns problems and detected that there was little interest in what I had to offer and in the nurses willingness to correct any problems. If I addressed the issue again, I risked worsening the relationship between my mentor and myself. Morris (2004) identifies that student nurses often feel nervous about speaking out because they feel the need to conform or do not wish to be viewed in a negative way. Student nurses risk upsetting the status quo by speaking out. If I left the issue my patient may be suffering discomfort unnecessarily, but as a student I will never be held accountable in a way that registered nurses midwives or health visitors are (NMC 2008). Would this justify me leaving the issues and conforming to the apathy and bad practice of my mentor? Morris (2004) disagrees. She says that although students are not legally accountable for their actions and omissions, they are morally responsible for ensuring that patients are receiving good standards of care. The student nurse must be responsible. Semple and Cable (2003) affirm that responsibility is concerned with answering for what you do. Registered nurses, midwifes and health visitors are accountable which, Semple and Cable (2003) defines as being answerable for the consequences of what you do. 3.) Re-evaluating the Experience Drawing Conclusions Drawing conclusions is the most vital part of the process of reflection. It will shape future practice and quality of care. Conclusions that are drawn from reflection must agree with the Nursing and Midwifery Council code of professional conduct. It is with the NMC that all matters of conduct, practice and attitude are dictated to nurses. The NMC (2008) motto, protecting the public through professional standards can only be achieved if all those on the NMC register are willing to submit to the conditions and regulations that it upholds. Indeed Somerville and Keeling (2004) affirm that in order for nurses to meet the demands of the NMC, they must focus on their knowledge skills and behaviour which can be achieved through reflection. On reflection of the described incident, it was difficult to know what to do. My mentor was not up to date with the knowledge of this area of practice. I cannot, and do not expect her to know everything, however Glover (1999) points out the nurses should be reliant on others for information. The NMC (2008) states that nurses should work cooperatively within teams and respect the skills, expertise and contributions of colleagues, treating them fairly and without discrimination. Therefore I expected my temporary mentor to take more interest in what I had to offer. Indeed Morris (2004) argues that qualified nurses are obliged to listen to other staff regardless of their qualification status. Announcing that practice should be in accordance with the NMC is too simplistic an answer to such a diverse problem. It is correct to say this but how will this be achieved? The ward is in need of good clinical leadership, first of all from the sister in charge. Nadeem (2002) states that the call for good leadership in the NHS has reintroduced the matron figure and also the new role of nurse consultants. Specialist nurses do have a role in ensuring safe practice and quality care but this should be in addition to effective local leadership i.e. leadership from the ward sister. Leadership is perceived as being good if there is good team working and if managers have good relationships with staff (Lipley 2003) which is one area that needs consideration in this scenario. Meeting the staffs needs improves satisfaction, productivity and efficiency (Nadeem 2002) which in this instance principally means the provision of resources, i.e. human resources. Nurses who are happy with the care they give are more likely to stay within their clinical area (Rohrlach 1998 and Govier 1999 cited by Kitson 2003). This would provide some stability and security in the workplace. Clinical governance has also come to play a prominent role in ensuring quality care. The government has defined clinical governance as a framework through which NHS organisations are accountable for continuously improving the quality of their services and safeguarding standards of care, by creating an environment in which excellence in clinical care will flourish (Department of Health 1998). It had been noted that unacceptable variations in clinical practice where becoming common in the NHS (Department of Health 2010). While some patients were receiving excellent health care, e.g. in stroke care, other patients in the country were receiving sub-optimal stroke care due to differences in facilities, funding, education and staff. Each clinical area can improve the quality of care by (1) using modern matrons and nu rse consultants as clinical leaders, (2) by having adequate staff to care effectively and to lift morale among existing staff and (3) by implementing clinical governance which will result in the flourishing of good practices across wards, departments and NHS trusts through the sharing of expertise, research and ideas. The wards problems could also be addressed through annual reviews or by encouraging staff to keep an up-to-date portfolio (Somerville and Keeling 2004). This will allow nurses to identify strengths and opportunities for development. Critically analysing using reflection on this incident has been valuable in maintaining the quality of care as set out in the NMC code of professional conduct. Gallacher (2004) says that she questions different peoples practices in order to provide her patients with first class quality care. Clinical practice will not improve if it remains unquestioned. Hindsight gives the practitioner the opportunity to discriminate between good and bad practices. Safe, legal and quality care can only be given if it is in keeping with the NMC code of professional conduct. Reference list Arrowsmith, H. (1993) Nursing Management of Patients Receiving a Nasogastric Feed. In: British Journal of Nursing. 2 (21) 1053-1058 Barer, D. (1989) The Natural History and Functional Consequences of Dysphagia after Hemispheric Stroke. In: Neurol Neurosurg Psychiatry. 52, 236-241 BMA (2008) New Guide to Medicines and Drugs. London: British Medical Association. Brown, R. (1995) Education for Specialist and Advanced Practice. In: British Journal of Nursing. 4 (5) 266-268 Department of Health (1998) First Class Service: Quality in the New NHS. London: The Stationery Office. Davies, S. (1999) Dysphagia in Acute Strokes. In: Nursing Standard. 13 (30) 49-55 Davis, J. Shere, K. (1994) Applied Nutrition and Diet Therapy for Nurses. 2nd Ed. Philadelphia: PA,WB Saunders. DeLegge, M. (1995) Percutaneous Endoscopic Gastrojejunostomy: A Dual Centre Safety and Efficacy Trial. In: Journal of Parenteral and Enteral Nutrition. 19 (3) 239-243 Gallacher, G. (2004) Gaining a Better Understanding of Reflection to Improve Practice. In: Nursing Times. 100 (23) 39 Gibbon, B. (2002) Rehabilitation Following Stroke. In: Nursing Standard. 16 (29) 47-52 Glover, D. (1999) Accountability. In: Nursing Times Clinical Monograph. 27, 1-11 Elia, M. (2001) Trends in Artificial Nutrition Support in the UK during 1996-2000. Maidenhead: BAPEN. Hancock, P. (1998) Reflective Practice using a Learning Journal. In: Nursing Standard. 13 (17) 36-39 Holmes, S. (2004) Enteral Feeding and Percutaneous Endoscopic Gastrostomy. In: Nursing Standard. 18 (20) 41-43 Howell, M. (2002) Do Nurses know enough about Percutaneous Endoscopic Gastrostomy? In: Nursing times. 98 (17) 40-42 Hutton C (2005) After a stroke: 300 tips for making life easier, London.UK Kitson, J. (2003) Education for High Dependency Nursing. In: Paediatric Nursing. 15 (1) 7-10 Lipley, N. (2003) Research Shows Benefits of Nurse Leadership Training. In: Nursing Management. 10 (2) 4-5 Marieb, E.N. (2001) Human Anatomy and Physiology. 5th Ed. United States of America: Benjamin Cummings. Morris, R. (2004) Speak out or Shut up? Accountability and the Student Nurse. In: Paediatric Nursing. 16 (6) 20-22 Nadeem, M. (2002) Evolution of Leadership in Nursing. In: Nursing Management. 9 (7) 20-5 Nursing and Midwifery Code of Professional Conduct. London: Nursing Council (2008) and Midwifery Council. Nursing and Midwifery An NMC Guide for Student of Nursing and Council (2008) Midwifery. London: Nursing and Midwifery Council. Semple, M. Cable, S. (2008) The new Code of Professional Conduct. In: Nursing Standard. 17 (23) 40-48 Somerville, D. Keeling, J. (2004) A Practical Approach to Promote Reflective Practice within Nursing. In: Nursing Times. 100 (12) 42-45 Stephanie K, Daniels, Maggie Lee Huckabee (2008) Dysphagia following stroke (clinical dysphagia) London. Stringer, S. (1999) Managing Dysphagia in Palliative Care. In: Professional Nurse. 14 (7) 489-492 Appendix 1 Three stages to the process of reflection. Boud, Keough and Walker (1985). a) Returning to experience Observations what happened? What was my reaction? Clarify personal perceptions b) Attending to feelings What did I feel at the time? What did I feel was positive? Why is cognitive learning being achieved? What did I feel was negative? Do any barriers to learning exist? Raise awareness and clarify feelings c) Re-evaluating the experience Draw conclusions and insights together with existing knowledge Identify gaps in knowledge Integrate existing and new knowledge

Monopoly, perfect competition and imperfect competition Essay

?Economists assume that there are a number of different buyers and sellers in the marketplace. This means that we have competition in the market, which allows price to change in response to changes in supply and demand. Furthermore, for almost every product there are substitutes, so if one product becomes too expensive, a buyer can choose a cheaper substitute instead. In a market with many buyers and sellers, both the consumer and the supplier have equal ability to influence price. In some industries, there are no substitutes and there is no competition. In a market that has only one or few suppliers of a good or service, the producer(s) can control price, meaning that a consumer does not have choice, cannot maximize his or her total utility and has have very little influence over the price of goods. A monopoly is a market structure in which there is only one producer/seller for a product. In other words, the single business is the industry. Entry into such a market is restricted due to high costs or other impediments, which may be economic, social or political. For instance, a government can create a monopoly over an industry that it wants to control, such as electricity. Another reason for the barriers against entry into a monopolistic industry is that oftentimes, one entity has the exclusive rights to a natural resource. For example, in Saudi Arabia the government has sole control over the oil industry. A monopoly may also form when a company has a copyright or patent that prevents others from entering the market. Pfizer, for instance, had a patent on Viagra. In an oligopoly, there are only a few firms that make up an industry. This select group of firms has control over the price and, like a monopoly, an oligopoly has high barriers to entry. The products that the oligopolistic firms produce are often nearly identical and, therefore, the companies, which are competing for market share, are interdependent as a result of market forces. Assume, for example, that an economy needs only 100 widgets. Company X produces 50 widgets and its competitor, Company Y, produces the other 50. The prices of the two brands will be interdependent and, therefore, similar. So, if Company X starts selling the widgets at a lower price, it will get a greater market share, thereby forcing Company Y to lower its prices as well. There are two extreme forms of market structure: monopoly and, its opposite, perfect competition. Perfect competition is characterized by many buyers and sellers, many products that are similar in nature and, as a result, many substitutes. Perfect competition means there are few, if any, barriers to entry for new companies, and prices are determined by supply and demand. Thus, producers in a perfectly competitive market are subject to the prices determined by the market and do not have any leverage. For example, in a perfectly competitive market, should a single firm decide to increase its selling price of a good, the consumers can just turn to the nearest competitor for a better price, causing any firm that increases its prices to lose market share and profits. Perfect competition is the market in which there is a large number of buyers and sellers. The goods sold in this market are identical. A single price prevails in the market. On the other hand monopoly is a type of imperfect market. The number of sellers is one but the number of buyers is many. A monopolist is a price-maker. In fact monopoly is the opposite of perfect competition. Firm under perfect competition and the firm under monopoly are similar as the aim of both the seller is to maximise profit and to minimise loss. The equilibrium position followed by both the monopoly and perfect competition is MR = MC. Despite there similarities, these two forms of market organization differ from each other in respect of price-cost-output. There are many points of difference which are noted below. (1) Under perfect competition there are a large number of buyers and sellers in the market competing with each other. The price fixed by the industry is accepted by all the firms operating in the market. As against this under monopoly, there is only one single seller but a large number of buyers. The distinction between, firm and industry disappears under this type of market situation. (2) The average revenue curves under competition and monopoly take different shapes. The average revenue (price) curve under perfect competition is a horizontal straight line parallel to OX-axis. The industry demand curve or revenue curve slopes downward from left to right. But under monopoly the firm is itself the industry. There is only one demand curve common both to the monopoly firm and monopoly firm and monopoly industry. The average revenue curve under monopoly slopes downward and its corresponding marginal revenue curve lie below the average revenue curve. Under perfect competition MR Curve is the same as AR Curve. (3) Under perfect competition price equals marginal cost at the equilibrium output, but under monopoly equilibrium price is greater than marginal cost. Under perfect competition marginal revenue is the same as average revenue at all levels of output. Thus at the equilibrium position under perfect competition marginal cost not only equals marginal revenue but also average revenue. On the other hand under monopoly both the AR and MR curve slope downward and MR curve lies below AR curve. Thus average revenue is greater than marginal revenue at all levels of output. Hence at the equilibrium output of the monopolist price stands higher than marginal cost. Under competition price MR=MC. In monopoly equilibrium, price > MC. (4) A competitive firm makes only normal profit in the long run. As against this a monopolist can make super normal profits even in the long run. In perfectly competitive market there is freedom pf entry and exit. Attracted by the supernormal profit earned by the existing firms the new competitive firms enter the market to compete away the supernormal profit. Output rises and profit becomes minimum. Thus in the long run a competitive firm earns only normal profit. But under monopoly the firm continues earning supernormal profits even in the long run since there are strong barriers to the entry of new firms in the monopolistic industry. (5) Under monopoly price is higher and output smaller than under perfect competition. Price output equilibrium is graphically shown in the diagram given below. AR = MR curve is the demand curve under perfect competition which is horizontal straight line. The downward sloping AR and MR curve are the average revenue and marginal revenue curves under monopoly. At equilibrium point E (MR = MC) a competitive firm produces ‘OM’ output at OP market price. At point F a monopoly firm attains equilibrium producing OM, output at OP, price. OP competitive price is less than OP, (OP < OP,) and OM competitive output is greater than OM, output (OM > OM,). (6) A monopolist can discriminate prices for his product, a firm working under perfect competition cannot. The monopolist will be increasing his total profit by price discrimination if he find? Elastic ties of demand are different in different markets. As against his a competitive firm cannot change different prices from different buyers since he faces a perfectly elastic demand at the going market price. If he increases a slights rise in price he will lose the sellers and makes loss. Thus a competitive firm can not discriminate prices which a monopolist can do. Monopoly and perfect competition represent two extremes along a continuum of market structures. At the one extreme is perfect competition, representing the ultimate of efficiency achieved by an industry that has extensive competition and no market control. Monopoly, at the other extreme, represents the ultimate of inefficiency brought about by the total lack of competition and extensive market control. Monopoly is a market structure with complete market control. As the only seller in the market, a monopoly controls the supply-side of the market. Perfect competition, in contrast, is a market structure in which each firmhas absolutely no market control. No firm in perfect competition can influence the market price in any way. The best way to compare monopoly and perfect competition is the four characteristics of perfect competition: (1) large number of relatively small firms, (2) identical product, (3) freedom of entry and exit, and (4) perfect knowledge. Number of Firms: Perfect competition is an industry comprised of a large number of small firms, each of which is a price taker with no market control. Monopoly is an industry comprised of a single firm, which is a price maker with total market control. Phil the zucchini grower is one of gadzillions of zucchini growers. Feet-First Pharmaceutical is the only firm that sells Amblathan-Plus, a drug that cures the deadly (but hypothetical) foot ailment known as amblathanitis. Available Substitutes: Every firm in a perfectly competitive industry produces exactly the same product as every other firm. An infinite number of perfect substitutes are available. A monopoly firm produces a unique product that has no close substitutes and is unlike any other product. Gadzillions of firms grow zucchinis, each of which is a perfect substitute for the zucchinis grown by Phil the zucchini grower. There are no substitutes for Amblathan-Plus. Feet-First Pharmaceutical is the only supplier. Resource Mobility: Perfectly competitive firms have complete freedom to enter the industry or exit the industry. There are no barriers. A monopoly firm often achieves monopoly status because the entry of potential competitors is prevented. Anyone can grow zucchinis. All they need is a plot of land and a few seeds. Feet-First Pharmaceutical holds the patents on Amblathan-Plus. No other firm can enter the market. Information: Each firm in a perfectly competitive industry possesses the same information about prices and production techniques as every other firm. A monopoly firm, in contrast, often has information unknown to others. Everyone knows how to grow zucchinis (or can easily find out how). Feet-First Pharmaceutical has a secret formula used in the production of Amblathan-Plus. This information is not available to anyone else. The consequence of these differences include: First, the demand curve for a perfectly competitive firm is perfectly elastic and the demand curve for a monopoly firm is THE market demand, which is negatively-sloped according to the law of demand. A perfectly competitive firm is thus a price taker and a monopoly is a price maker. Phil must sell his zucchinis at the going market price. It he does not like the price, then he does not sell zucchinis. Feet-First Pharmaceutical can adjust the price of Amblathan-Plus, either higher or lower, and so doing it can control the quantity sold. Second, the monopoly firm charges a higher price and produces less output than would be achieved with a perfectly competitive market. In particular, the monopoly price is not equal to marginal cost, which means a monopoly does not efficiently allocate resources. Although Feet-First Pharmaceutical charges several dollars per ounce of Amblathan-Plus, the cost of producing each ounce is substantially less. Phil, in contrast, just about breaks even on each zucchini sold. Third, while an economic profit is NOT guaranteed for any firm, a monopoly is more likely to receive economic profit than a perfectly competitive firm. In fact, a perfectly competitive firm IS guaranteed to earn nothing but a normal profit in the long run. The same cannot be said for monopoly. The price of zucchinis is so close to the cost of production, Phil never earns much profit. If the price is relatively high, other zucchini producers quickly flood the market, eliminating any profit. In contrast, Feet-First Pharmaceutical has been able to maintain a price above production cost for several years, with a handsome profit perpetually paid to the company shareholders year after year. Fourth, the positively-sloped marginal cost curve for each perfectly competitive firm is its supply curve. This ensures that the supply curve for a perfectly competitive market is also positively sloped. The marginal cost curve for a monopoly is NOT, repeat NOT, the firm’s supply curve. There is NO positively-sloped supply curve for a market controlled by a monopoly. A monopoly might produce a larger quantity if the price is higher, in accordance with the law of supply, or it might not. If the price of zucchinis rises, then Phil can afford to grow more. If the price falls, then he is forced to grow less. Marginal cost dictates what Phil can produce and supply. Feet-First Pharmaceutical, in comparison, often sells a larger quantity of Amblathan-Plus as the price falls, because they face decreasing average cost with larger scale production. MONOPOLY, CHARACTERISTICS: The four key characteristics of monopoly are: (1) a single firm selling all output in a market, (2) a unique product, (3) restrictions on entry into and exit out of the industry, and more often than not (4) specialized information aboutproduction techniques unavailable to other potential producers. These four characteristics mean that a monopoly has extensive (boarding on complete) market control. Monopoly controls the selling side of the market. If anyone seeks to acquire the production sold by the monopoly, then they must buy from the monopoly. This means that the demand curve facing the monopoly is the market demand curve. They are one and the same. The characteristics of monopoly are in direct contrast to those of perfect competition. A perfectly competitive industry has a large number of relatively small firms, each producing identical products. Firms can freely move into and out of the industry and share the same information about prices and production techniques. A monopolized industry, however, tends to fall far short of each perfectly competitive characteristic. There is one firm, not a lot of small firms. There is only one firm in the market because there are no close substitutes, let alone identical products produced by other firms. A monopoly often owes its monopoly status to the fact that other potential producers are prevented from entering the market. No freedom of entry here. Neither is there perfect information. A monopoly firm often has specialized information, such as patents or copyrights, that are not available to other potential producers. Single Supplier The essence of a monopoly is a market controlled by a single seller. The â€Å"mono† part of monopoly means single. This â€Å"mono† term is also the source of such words as monarch–a single ruler; monochrome–a single color; monk–a solitary religious figure; monocle–an eyeglass for one eye; and monolith–a single large stone. The â€Å"poly† part of monopoly means to sell. So the word itself, monopoly, means a single seller. The single seller, of course, is a direct contrast to perfect competition, which has a large number of sellers. In fact, perfect competition could be renamed multipoly or manypoly, to contrast it with monopoly. The most important aspect of being a single seller is that the monopoly seller IS the market. The market demand for a good IS the demand for the output produced by the monopoly. This makes monopoly a price maker, rather than a price taker. A hypothetical example that can be used to illustrate the features of a monopoly is Feet-First Pharmaceutical. This firm owns the patent to Amblathan-Plus, the only cure for the deadly (but hypothetical) foot ailment known as amblathanitis. As the only producer of Amblathan-Plus, Feet-First Pharmaceutical is a monopoly with extensive market control. The market demand for Amblathan-Plus is THE demand for Amblathan-Plus sold by Feet-First Pharmaceutical. Unique Product To be the only seller of a product, however, a monopoly must have a unique product. Phil the zucchini grower is the only producer of Phil’s zucchinis. The problem for Phil, however, is that gadzillions of other firms sell zucchinis that are indistinguishable from those sold by Phil. Amblathan-Plus, in contrast, is a unique product. There are no close substitutes. Feet-First Pharmaceutical holds the exclusive patent on Amblathan-Plus. No other firm has the legal authority to produced Amblathan-Plus. And even if they had the legal authority, the secret formula for producing Amblathan-Plus is sealed away in an airtight vault deep inside the fortified Feet-First Pharmaceutical headquarters. Of course, other medications exist that might alleviate some of the symptoms of amblathanitis. One ointment temporarily reduces the swelling. Another powder relieves the redness. But nothing else exists to cure amblathanitis completely. A few highly imperfect substitutes exists. But there are no close substitutes for Amblathan-Plus. Feet-First Pharmaceutical has a monopoly because it is the ONLY seller of a UNIQUE product. Barriers to Entry and Exit A monopoly is generally assured of being the ONLY firm in a market because of assorted barriers to entry. Some of the key barriers to entry are: (1) government license or franchise, (2) resource ownership, (3) patents and copyrights, (4) high start-up cost, and (5) decreasingaverage total cost. Feet-First Pharmaceutical has a few these barriers working in its favor. It has, for example, an exclusive patent on Amblathan-Plus. The government has decreed that Feet-First Pharmaceutical, and only Feet-First Pharmaceutical, has the legal authority to produce and sell Amblathan-Plus. Moreover, the secret ingredient used to produce Amblathan-Plus is obtained from a rare, genetically enhanced, eucalyptus tree grown only on a Brazilian plantation owned by Feet-First Pharmaceutical. Even if another firm knew how to produce Amblathan and had the legal authority to do so, they would lack access to this essential ingredient. A monopoly might also face barriers to exiting a market. If government deems that the product provided by the monopoly is essential for well-being of the public, then the monopoly might be prevented from leaving the market. Feet-First Pharmaceutical, for example, cannot simply cease the production of Amblathan-Plus. It is essential to the health and welfare of the public. This barrier to exit is most often applied to public utilities, such as electricity companies, natural gas distribution companies, local telephone companies, and garbage collection companies. These are often deemed essential services that cannot be discontinued without permission from a government regulation authority. Specialized Information Monopoly is commonly characterized by control of information or production technology not available to others. This specialized information often comes in the form of legally-established patents, copyrights, or trademarks. While these create legal barriers to entry they also indicate that information is not perfectly shared by all. The AT&T telephone monopoly of the late 1800s and early 1900s was largely due to the telephone patent. Pharmaceutical companies, like the hypothetical Feet-First Pharmaceutical, regularly monopolize the market for a specific drug by virtue of a patent. In addition, a monopoly firm might know something or have a piece of information that is not available to others. This â€Å"something† may or may not be patented or copyrighted. It could be a secret recipe or formula. Perhaps it is a unique method of production. One example of specialized information is the special, secret formula for producing Amblathan-Plus that is sealed away in an airtight vault deep inside the fortified Feet-First Pharmaceutical headquarters. No one else has this information. Competition is very common and often times very aggressive in a free market place where a large number of buyers and sellers interact with one another. Economic theory describes a number of market competitive structures that takes into account the differences in the number of buyers, sellers, products sold, and prices charged. There are two extreme forms of market competitive conditions; namely, perfectly competitive and imperfectly competitive. The following article provides a clear overview of each type of market competitive structures and provides an explanation of how they are different to one another. What is Perfect Competition? Perfect competition is where the sellers within a market place do not have any distinct advantage over the other sellers since they sell a homogeneous product at similar prices. There are many buyers and sellers, and since the products are very similar in nature there is little competition as the buyer’s needs could be satisfied by the products sold by any seller in the market place. Since there are a large number of sellers each seller will have smaller market share, and it is impossible for one or few sellers to dominate in such a market structure. Perfectly competitive market places also have very low barriers to entry; any seller can enter the market place and start selling the product. Prices are determined by the forces of demand and supply and, therefore, all sellers must conform to a similar price level. Any company that increases the price over competitors will lose market share since the buyer can easily switch to the competitor’s product. What is Imperfect Competition? Imperfect competition as the word suggests is a market structure in which the conditions for perfect competition are not satisfied. This refers to a number of extreme market conditions including monopoly, oligopoly, monopsony, oligopsony and monopolistic competition. Oligopoly refers to a market structure in which a small number of sellers compete with each other and offer a similar product to a large number of buyers. Since the products are so similar in nature, there is intense competition among market players, and high barriers to entry since most new firms may not have the capital, technology to startup. A monopoly is where one firm will control the entire market place, and will hold 100% market share. The firm in a monopoly market will have control over the product, price, features, etc. Such firms usually hold a patented product, proprietary knowledge/technology or holds access to a single important resource. Monospsony is where there are many sellers in the market with just one buyer and oligopsony is where there are a large number of sellers and a small number of buyers. Monopolistic competition is where 2 firms within a market place sell differentiated products that cannot be used as substitutes to each other. Perfect vs Imperfect Competition. Perfect and Imperfectly competitive markets are very different to one another in terms of the different market conditions that need to be satisfied. The main difference is that, in a perfectly competitive market place, the competitive conditions are much less intense, than any other form of imperfect competition. Furthermore, a perfectly competitive market structure is healthier as buyers have enough options to select from and aren’t, therefore, pressured to purchase one / few products and sellers are able to enter/exit as they please, which is opposite to most market conditions within an imperfectly competitive market place. Summary †¢ There are two extreme forms of market competitive conditions; namely, perfectly competitive and imperfectly competitive. †¢ Perfect competition is where the sellers within a market place do not have any distinct advantage over the other sellers since they sell a homogeneous product at similar prices. †¢ Imperfect competition as the word suggests is a market structure in which the conditions for perfect competition are not satisfied. This refers to a number of extreme market conditions including monopoly, oligopoly, monopsony, oligopsony and monopolistic competition. Perfect and monopolistic competitions are both forms of market situations that describe the levels of competition within a market structure. Perfect competition and monopolistic competition are different to each other in that they describe completely different market scenarios that involve differences in prices, levels of competition, number of market players and types of goods sold. The article gives a clear outline of what each type of competition means to market players and consumers and shows their distinct differences. What is Perfect Competition? A market with perfect competition is where there are a very large number of buyers and sellers who are buying and selling an identical product. Since the product is identical in all its features, the price charged by all sellers is a uniform price. Economic theory describes market players in a perfect competition market as not being large enough by themselves to be able to become a market leader or to set prices. Since the products sold and prices set are identical, there are no barriers to entry or exit within such a market place. The existence of such perfect markets are quite rare in the real world, and the perfectly competitive marketplace is a formation of economic theory to help better understand other forms of market competition such as monopolistic and oligopolistic. What is Monopolistic Competition? A monopolistic market is one where there are a large number of buyers but a very few number of sellers. The players in these types of markets sell goods which are different to each other and, therefore, are able to charge different prices depending on the value of the product that is offered to the market. In a monopolistic competition situation, since there are only a few number of sellers, one larger seller controls the market, and therefore, has control over prices, quality and product features. However, such a monopoly is said to last only within the short run, as such market power tends to disappear in the long run as new firms enter the market creating a need for cheaper products. What is the difference between Perfect Competition and Monopolistic Competition? Perfect and monopolistic competition marketplaces have similar objectives of trading which is maximizing profitability and avoid making losses. However, the market dynamics between these two forms of markets are quite distinct. Monopolistic competition describes an imperfect market structure quite opposite to perfect competition. Perfect competition explains an economic theory of a marketplace which does not happen to exist in reality. Summary: Perfect Competition vs Monopolistic Competition Perfect and monopolistic competitions are both forms of market situations that describe the levels of competition within a market structure. A market with perfect competition is where there are a very large number of buyers and sellers who are buying and selling an identical product. A monopolistic market is one where there are a large number of buyers but a very few number of sellers. The players in these types of markets sell goods which are different to each other, and therefore, are able to charge different prices. Monopolistic competition describes an imperfect market structure quite opposite to perfect competition. Perfect competition explains an economic theory of a marketplace which does not happen to exist in reality.

Emmeline Pankhurst, Womens Rights Activist

Emmeline Pankhurst (July 15, 1858–June 14, 1928) was a British suffragette who championed the cause of womens voting rights in Great Britain in the early 20th century, founding the Womens Social and Political Union (WSPU) in 1903. Her militant tactics earned her several imprisonments and stirred up controversy among various suffragist groups. Widely credited with bringing womens issues to the forefront—thus helping them win the vote—Pankhurst is considered one of the most influential women of the 20th century. Fast Facts: Emmeline Pankhurst Known For: British suffragette who founded the Womens Social and Political UnionAlso Known As: Emmeline GouldenBorn: July 15, 1858  in Manchester, United KingdomParents: Sophia and Robert GouldenDied: June 14, 1928  in  London, United KingdomEducation: École Normale de NeuillyPublished Works: Freedom or Death (speech delivered in Hartford, Connecticut on Nov. 13, 1913, later published), My Own Story (1914)Awards and Honors: A statue of Pankhurst  was unveiled in Manchester on Dec. 14, 2018. Pankhursts name and image and those of 58 other womens suffrage supporters including her daughters are etched at the base  of a  statue of Millicent Fawcett  in  Parliament Square in London.Spouse: Richard Pankhurst (m. Dec. 18, 1879–July 5, 1898)Children: Estelle Sylvia,  Christabel,  Adela,  Francis Henry,  Henry FrancisNotable Quote: We are here, not because we are law-breakers; we are here in our efforts to become law-makers. Early Years Pankhurst, the eldest girl in a family of 10 children, was born to Robert and Sophie Goulden on July 15, 1858, in Manchester, England. Robert Goulden ran a successful calico-printing business; his profits enabled his family to live in a large house on the outskirts of Manchester. Pankhurst developed a social conscience at an early age, thanks to her parents, both ardent supporters of the antislavery movement and womens rights. At age 14, Emmeline attended her first suffrage meeting with her mother and came away inspired by the speeches she heard. A bright child who was able to read at the age of 3, Pankhurst was somewhat shy and feared speaking in public. Yet she was not timid about making her feelings known to her parents. Pankhurst felt resentful that her parents placed a lot of importance upon the education of her brothers, but gave little consideration to educating their daughters. Girls attended a local boarding school that primarily taught social skills that would enable them to become good wives. Pankhurst convinced her parents to send her to a progressive womens school in Paris. When she returned five years later at the age of 20, she had become fluent in French and had learned not only sewing and embroidery but chemistry and bookkeeping as well. Marriage and Family Soon after returning from France, Emmeline met Richard Pankhurst, a radical Manchester attorney more than twice her age. She admired Pankhursts commitment to liberal causes, notably the womens suffrage movement. A political extremist, Richard Pankhurst also supported home rule for the Irish and the radical notion of abolishing the monarchy. They married in 1879 when Emmeline was 21 and Richard was in his mid-40s. In contrast to the relative wealth of Pankhursts childhood, she and her husband struggled financially. Richard Pankhurst, who might have made a good living working as a lawyer, despised his work and preferred to dabble in politics and social causes. When the couple approached Robert Goulden about financial assistance, he refused; an indignant Pankhurst never spoke to her father again. Pankhurst gave birth to five children between 1880 and 1889: daughters Christabel, Sylvia, and Adela, and sons Frank and Harry. Having taken care of her firstborn (and alleged favorite) Christobel, Pankhurst spent little time with her subsequent children when they were young, leaving them instead in the care of nannies. The children did benefit, however, from growing up in a household filled with interesting visitors and lively discussions, including with well-known socialists of the day. Gets Involved Pankhurst became active in the local womens suffrage movement, joining the Manchester Womens Suffrage Committee soon after her marriage. She later worked to promote the Married Womens Property Bill, which was drafted in 1882 by her husband. In 1883, Richard Pankhurst ran unsuccessfully as an independent for a seat in Parliament. Disappointed by his loss, Richard Pankhurst was nonetheless encouraged by an invitation from the Liberal Party to run again in 1885—this time in London. The Pankhursts moved to London, where Richard lost his bid to secure a seat in Parliament. Determined to earn money for her family—and to free her husband to pursue his political ambitions—Pankhurst opened a shop selling fancy home furnishings in the Hempstead section of London. Ultimately, the business failed because it was located in a poor part of London, where there was little demand for such items. Pankhurst closed the shop in 1888. Later that year, the family suffered the loss of 4-year-old Frank, who died of diphtheria. The Pankhursts, along with friends and fellow activists, formed the Womens Franchise League (WFL) in 1889. Although the Leagues main purpose was to gain the vote for women, Richard Pankhurst tried to take on too many other causes, alienating the Leagues members. The WFL disbanded in 1893. Having failed to achieve their political goals in London and troubled by money woes, the Pankhursts returned to Manchester in 1892. Joining the newly formed Labor Party in 1894, the Pankhursts worked with the Party to help feed the multitudes of poor and unemployed people in Manchester. Pankhurst was named to the board of poor law guardians, whose job it was to supervise the local workhouse—an institute for destitute people. Pankhurst was shocked by conditions in the workhouse, where inhabitants were fed and clothed inadequately and young children were forced to scrub floors. Pankhurst helped to improve conditions immensely; within five years, she had even established a school in the workhouse. A Tragic Loss In 1898, Pankhurst suffered another devastating loss when her husband of 19 years died suddenly of a perforated ulcer. Widowed at only 40 years old, Pankhurst learned that her husband had left his family deeply in debt. She was forced to sell furniture to pay off debts and accepted a paying position in Manchester as registrar of births, marriages, and deaths. As a registrar in a working-class district, Pankhurst encountered many women who struggled financially. Her exposure to these women—as well as her experience at the workhouse—reinforced her sense that women were victimized by unfair laws. In Pankhursts time, women were at the mercy of laws which favored men. If a woman died, her husband would receive a pension; a widow, however, might not receive the same benefit. Although progress had been made by the passage of the Married Womens Property Act (which granted women the right to inherit property and to keep the money they earned), those women without an income might very well find themselves living at the workhouse. Pankhurst committed herself to securing the vote for women because she knew their needs would never be met until they gained a voice in the law-making process. Getting Organized: The WSPU In October 1903, Pankhurst founded the Womens Social and Political Union (WSPU). The organization, whose simple motto was Votes for Women, accepted only women as members and actively sought out those from the working class. Mill-worker Annie Kenny became an articulate speaker for the WSPU, as did Pankhursts three daughters. The new organization held weekly meetings at Pankhursts home and membership grew steadily. The group adopted white, green, and purple as its official colors, symbolizing purity, hope, and dignity. Dubbed by the press suffragettes (meant as an insulting play on the word suffragists), the women proudly embraced the term and called their organizations newspaper Suffragette. The following spring, Pankhurst attended the Labor Partys conference, bringing with her a copy of the womens suffrage bill written years earlier by her late husband. She was assured by the Labor Party that her bill would be up for discussion during its May session. When that long-anticipated day came, Pankhurst and other members of the WSPU crowded the House of Commons, expecting that their bill would come up for debate. To their great disappointment, members of Parliament (MPs) staged a talk out, during which they intentionally prolonged their discussion on other topics, leaving no time for the womens suffrage bill. The group of angry women formed a protest outside, condemning the Tory government for its refusal to address the issue of womens voting rights. Gaining Strength In 1905—a general election year—the women of WSPU found ample opportunities to make themselves heard. During a Liberal Party rally held in Manchester on October 13, 1905, Christabel Pankhurst and Annie Kenny repeatedly posed the question to speakers: Will the liberal government give votes to women? This created an uproar, leading to the pair being forced outside, where they held a protest. Both were arrested; refusing to pay their fines, they were sent to jail for a week. These were the first of what would amount to nearly 1,000 arrests of suffragists in the coming years. This highly publicized incident brought more attention to the cause of womens suffrage than any previous event; it also brought a surge of new members. Emboldened by its growing numbers and infuriated by the governments refusal to address the issue of womens voting rights, the WSPU developed a new tactic—heckling politicians during speeches. The days of the early suffrage societies—polite, ladylike letter-writing groups—had given way to a new kind of activism. In February 1906, Pankhurst, her daughter Sylvia, and Annie Kenny staged a womens suffrage rally in London. Nearly 400 women took part in the rally and in the ensuing march to the House of Commons, where small groups of women were allowed in to speak to their MPs after initially being locked out. Not a single member of Parliament would agree to work for womens suffrage, but Pankhurst considered the event a success. An unprecedented number of women had come together to stand for their beliefs and had shown that they would fight for the right to vote. Protests Pankhurst, shy as a child, evolved into a powerful and compelling public speaker. She toured the country, giving speeches at rallies and demonstrations, while Christabel became the political organizer for the WSPU, moving its headquarters to London. On June 26, 1908, an estimated 500,000 people gathered in Hyde Park for a WSPU demonstration. Later that year, Pankhurst went to the United States on a speaking tour, in need of money for medical treatment for her son Harry, who had contracted polio. Unfortunately, he died soon after her return. Over the next seven years, Pankhurst and other suffragettes were repeatedly arrested as the WSPU employed ever more militant tactics. Imprisonment On March 4, 1912, hundreds of women, including Pankhurst (who broke a window at the prime ministers residence), participated in a rock-throwing, window-smashing campaign throughout commercial districts in London.  Pankhurst was sentenced to nine months in prison for her part in the incident. In protest of their imprisonment, she and fellow detainees embarked upon a hunger strike. Many of the women, including Pankhurst, were held down and force-fed through rubber tubes passed through their noses into their stomachs. Prison officials were widely condemned when reports of the feedings were made public. Weakened by the ordeal, Pankhurst was released after spending a few months in abysmal prison conditions. In response to the hunger strikes, Parliament passed what came to be known as the Cat and Mouse Act (officially called the Temporary Discharge for Ill-Health Act), which allowed women to be released so that they could regain their health, only to be re-incarcerated once they had recuperated, with no credit for time served. The WSPU stepped up its extreme tactics, including the use of arson and bombs. In 1913, one member of the Union, Emily Davidson, attracted publicity by throwing herself in front of the kings horse in the middle of the Epsom Derby race. Gravely injured, she died days later. The more conservative members of the Union became alarmed by such developments, creating divisions within the organization and leading to the departure of several prominent members. Eventually, even Pankhursts daughter Sylvia became disenchanted with her mothers leadership and the two became estranged. World War I and the Womens Vote In 1914, Britains involvement in World War I effectively put an end to the WSPUs militancy. Pankhurst believed it was her patriotic duty to assist in the war effort and ordered that a truce be declared between the WSPU and the government. In return, all suffragette prisoners were released. Pankhursts support of the war further alienated her from daughter Sylvia, an ardent pacifist. Pankhurst published her autobiography, My Own Story, in 1914. (Daughter Sylvia later wrote a biography of her mother, published in 1935.) Later Years, Death, and Legacy As an unexpected by-product of the war, women had the opportunity to prove themselves by carrying out jobs previously held only by men. By 1916, attitudes toward women had changed; they were now regarded as more deserving of the vote after having served their country so admirably. On February 6, 1918, Parliament passed the Representation of the People Act, which granted the vote to all women over 30. In 1925, Pankhurst joined the Conservative Party, much to the astonishment of her former socialist friends. She ran for a seat in Parliament but withdrew before the election because of ill health. Pankhurst died at the age of 69 on June 14, 1928, only weeks before the vote was extended to all women over 21 years of age on July 2, 1928. Sources ï » ¿Emmeline Pankhurst - Suffragette - BBC Bitesize.†Ã‚  BBC News, BBC, 27 Mar. 2019,  Pankhurst, Emmeline. â€Å"Great Speeches of the 20th Century: Emmeline Pankhursts Freedom or Death.†Ã‚  The Guardian, Guardian News and Media, 27 Apr. 2007.â€Å"Representation of the People Act 1918.†Ã‚  UK Parliament.

International Supply Chain Management - 4274 Words

INTERNATIONAL SUPPLY CHAIN MANAGEMENT – BSB20123-7 Written Examination Stimulus Material Case Study – IKEA About IKEA Since its 1943 founding in Sweden, IKEA has offered home furnishings and accessories of good design and function at low prices so the majority of the people can afford them. IKEA’s vision is to: â€Å"Create a better everyday life for the many people† Its business idea is To offer a wide range of well designed, functional home furnishing products at prices so low that as many people as possible will be able to afford them The IKEA concept is based on their market positioning statement â€Å"Your partner in better living. We do our part, you do yours. Together we save money† and focuses on a commitment to product design, consumer†¦show more content†¦IKEA buys production capacity rather than product quantities. In other words, they order 10,000 hours of production from their suppliers rather than 10,000 bookcases. Local offices near to the suppliers The operative purchasing work is divided up among four trading agents, supported by 31 trading s ervice offices in 26 countries. This means that IKEA is always close to its suppliers, which is one way of creating good business relations between the companies involved. The trading service office’s employees can make frequent visits to suppliers and follow the production process closely, enabling new ideas to be tested and regular quality controls to be made. They are also responsible for the important task of monitoring working conditions, social conditions and the external environment around the factories, and for checking that these are constantly being improved in accordance with the code of conduct in The IKEA Way on Purchasing Home Furnishing Products (see Appendix 1). The suppliers, in turn, can have confidence and faith in IKEA. While IKEA know they are a demanding customer, they also feel that they are fair, professional and honest in their dealings. China – number one on the IKEA purchasing list Today the majority of IKEA products (66%) are purchased from manufacturers in Europe. However, the largest single country for purchasing is China. Top 5 purchase countries †¢ China 18% †¢ Poland 12% †¢ Sweden 9% †¢ Italy 7% †¢ GermanyShow MoreRelatedInternational Supply Chain Management Case Study Essay1463 Words   |  6 Pages 4.782 international supply chain management Case Study Wang anqi 20142345 Word Count: 2641 Introduction Late accentuation on worldwide environmental change is expanding weight on automotive executives to make the right decisions in many areas to settle on the right choices in numerous zones, including RD and assembling. Shiv industry is the automotive parts industry face challenges from the lower end competition comes from the unorganized sector and the higher end of technologyRead MorePursuing and International Career in Logistics and Supply Chain Management1924 Words   |  8 Pagesand Supply Chain department for past four years. I appreciate this opportunity to introduce myself to the admission committee and to apply for Management Engineering Laurea Magistrale at esteemed Politecnico di Milano. I believe my educational and professional background will enable me to make a strong contribution for the research and coursework carried out for the Master’s degree. This academic objective is a natural step towards my ultimate professional ambition of pursuing international careerR ead MoreGlobalization of Supply Chain Management1422 Words   |  6 PagesConclusions The globalization of supply chain management is the natural outcome of today’s expanding consumer markets as companies struggle to meet the dynamic needs of growing markets and new customer segments. It has led to a high degree of specialization under an ever-expanding world market. People with special skills can work with little overheads and market globally. Small companies can flourish. Introduction The pace of globalization on the supply chain continues to foster opportunitiesRead MoreLi Fung1747 Words   |  7 PagesThe goal of effective supply chain management is to gain competitive advantage through optimizing flows within the enterprise. The Hong Kong listed company Li Fung Ltd represents one of the world s best examples of achieving this goal. The company financial history clearly tells that story. Just last year, LF saw profit attributable to shareholder increase by 23%. In fact, over the past 14 years, LF has seen steady compound annual growth rate of 22%. Not bad performance for a small familyRead MoreReducing Complexity Levels Within Supply Chain Management1410 Words   |  6 PagesReducing Complexity Levels Within Supply Chain Management Supply chain management (SCM) practitioners are often asked to discuss the top challenges they face in today’s business environment. Since change is constant, the challenges experienced today will at some point change over time. Over all, when taking into consideration all the challenges found in today’s SCM environment, one may wonder how it is possible to effectively and efficiently manage activities within a complex SCM. The answerRead MoreCase Study : Supply Chain Management1344 Words   |  6 PagesTo succeed in today’s competitive markets companies must learn to align their supply chains with the demand of the markets they serve. Supply chain performance is now a distinct competitive advantage for companies who excel in this area. Supply Chain Management(SCM) is defined as a set of approached utilized to efficiently integrate suppliers, manufacturers, warehouses and stores, so that merchandise is produced and distributed at the right quantities to the right locations and at the time in orderRead MoreAn Empirical Analysis Of Supply Chain Risk Management1692 Words   |  7 PagesHoenig in the paper titled â€Å"An empirical analysis of supply chain risk management in the German automotive industry† applied the practices of supply chain risk management by surveying sixty-seven manufacturing plants in German automotive industry. The need of real empirical research in supply chain risk management to help analyzing supply chain risk and test the previous research proposed instruments that can be applied for supply chain risk management was the motivation of this work. In this paper, theRead MoreKey Term : Just For Time Productions Or Systems1198 Words   |  5 Pagesavailability of the production system. Th e idea of manufacturing goods in a systemic process comprised of balancing inputs and outputs across the value chain involve Just-in-time productions or systems. This production system incorporates a philosophical approach to integrated productions plans and schedules that are fluid enough to continuously adjusts with supply and demand variables in real time. This high-level of production and coordination in manufacturing can only be reached with an understanding ofRead MoreAirline And Trucking Fleet : Ups1047 Words   |  5 Pagesfreight across vast oceans. This global network provides customers with supply chain flexibility and increases supply chain surplus for UPS. Leading-edge Technology: UPS develops and implements proprietary logistical software technology that increases supply chain functionality and improves logistics management internally and externally. For customers, UPS software allows clients to send, track, and manage packages and supply chain partners. For internal clients, UPS has developed a wide range of efficiencyRead MoreDistribution Systems: Concentrated Clustering812 Words   |  4 PagesClustering | Case Assignment - Module 2 | Jaime 10/30/2012 | The Core of Concentrated Clusters Since the definition of supply chain management is, the oversight of materials, information, and finances as they move in a process from supplier to manufacturer to wholesaler to retailer to consumer, it only makes sense then that placing each part of the supply chain in close proximity to one another makes for easier oversight. (Rouse, 2010) This is the basis for the clustering theory. (DeWitt