TESCO PLC AND THE NATURE OF MARKETS IN WHICH IT OPERATES Essay

TESCO PLC AND THE NATURE OF MARKETS IN WHICH IT OPERATES - Essay Example As one of the biggest players within the UK retail grocery industry, Tesco’s market share was 30.5% back in December 2009. In line with this, Tesco’s close competitor includes: Asda (16.9%), Sainsbury (16.9%), and Morrisons (12.3%). Having only four major players in the market, the market structure of retail grocery industry in UK is oligopoly. Within an oligopolistic market that targets many buyers, the industry is commonly dominated by only a very few numbers of sellers that offer homogenous products to its target consumers (Arnold 2008, p. 512). One of the very few factors that can trigger the development of oligopoly is the fact that a lot of companies are entering into merger and acquisitions as a result of tight market competition caused by globalization. The problem with oligopoly is that a very few number of competitors within the industry can enter into collusion making them able to dictate the market price of heterogenous products they are selling in the market (Gans 2005). Considering that market consequences of a few-firm concentration ration, a lot of economists believe that a market that is characterized by oligopoly is almost similar to the market consequences associated with anti-competitive domestic or international market activity. Although it is possible for players within an oligopoly market to dictate the market price of goods, this is not true in the case of Tesco and its competitors. Since grocery and merchandise retailers are selling homogenous products, its target customers will always have the opportunity to decide where to regularly purchase their weekly consumption of grocery items. In line with this, Tesco’s existing customers can anytime decide to purchase their grocery items from Asda, Sainsbury, Morrison, Waitrose, M&S, Somerfield, Aldi, Lidl, and Netto among other small-scale supermarket throughout the United Kingdom (Tesco 2010 b). There is a strong price competition within the grocery

EU ECONOMY Essay Example | Topics and Well Written Essays - 2000 words

EU ECONOMY - Essay Example nnovative technologies, improving the access to enterprise development capital and focusing on economic reforms that will ensure high economic growth, employment creation and innovation. The member states must commit to reduction of their budget debts, invest in new technologies, diversify their economies, invest in innovative research and stimulate the growth of new enterprises in order for the economic region to remain competitive. In the past five years, member states of the EU monetary block has witnessed harsh economic environment characterised by imminent outright sovereign debt defaults, financial contagion, increase in unemployment, decline in overall economic growth and mistrust among the member states. The EU economy policies must ensure high economic growth, high innovation and improved resilience of markets to external economic shocks in order to attain global competitiveness and ensure high direct investments in the region (Finke 2012). On the other hand, emerging global competitors such as China have export-growth initiatives that improve the competitiveness of their products in the global markets (Finke 2012). China enjoys absolute advantage in manufacture of many products due to availability of highly qualified cheap labor, nearness to the source of raw materials and superior manufacturing technologies. China’s trade and services account for more than 65 percent of the GDP and has maintained a consistent annual increase of GDP over the last ten years. The policy paper is addressed to the European Commissioner and aims at highlighting how EU competitiveness in the global markets is declining due to emergence of global competitors like China and offers several alternative policy measures that should be implemented in order to counter the growing threat. The EU economy is undergoing a turbulent period since its formation since many member states are struggling to recover from the adverse impacts of recent global economic recession and financial

Financial statements ratio analysis Essay Example | Topics and Well Written Essays - 1000 words

Financial statements ratio analysis - Essay Example The company has a relatively high turnover of more than one. A ratio of more than one means the net sales are more than the total fixed assets. This means that one dollar of fixed asset invested generates more than on dollar of sales. However, this ability decreased across the period. Current ratio highlights the capability of a company to meet its current obligations as they become due. A ratio of less than one as in the case of the company implies that the company has more obligations than the assets hence cannot meet them. In 2013 the ability increased but still does not satisfy all the obligations. Debt to total assets ratio shows the portion of the company’s financing provided by the creditors that is it measures a company’s financial leverage. From the calculation above the company has more assets than liabilities hence it is less risky since it has a ratio of close to 0.5 implying that it has liabilities of close to 50% of its total assets. Across the period the percentage increased from 56% to 63% meaning it increased its liabilities. Return on equity illustrates the company’s ability to generate profit or return from its shareholders’ investments. It therefore shows how efficient a company uses the shareholder money. From the ratio above the company is a bit efficient in using the shareholders’ money but the efficiency decreased in 2013 from 36% to 28%. With regards to the profit margin, the company’s ability to convert sales into profit is lower than that of the industry. Accounts receivable turnover shows that the number of times a company collects its receivables is lower than that of the company. Further, its fixed asset turnover is also lower than that of the industry implying that it uses its fixed assets less effectively. The company also has a lower current ratio than the industry thus it has more liabilities in relation to its assets than the

Do conflicts management styles Affect group decision making Annotated Bibliography

Do conflicts management styles Affect group decision making - Annotated Bibliography Example Conflict management style has been studied in this article while looking at three approaches; integrative, avoidance, distributive; focusing on conflict management rather than resolution because there is no ideal solution to a conflict, but the ability of the conflicting parties to work through their issues. (Tim Kuhn, 2000) Group conflict management is an all inclusive process as it does not stifle the group members’ diverse perspectives, allowing for a range of alternatives that are possible outcomes of the process. These possible outcomes are looked into while assessing the quality of decisions with an emphasis on the performance and subjective outcomes of the decision making process. A decision’s functional theory is guided by group interaction leading to critical thinking thereby directly shaping the final choice of the group. (Tim Kuhn, 2000) The article while analyzing the integrative, avoidance and distributive approaches, favors the integrative approach hypothesizing that the group using the integrative approach will have the highest level of effectiveness in their decision making process as opposed to the other two because it encapsulates several perspectives therefore fostering positive, subjective and objective outcomes. (Tim Kuhn, 2000) The article examines task complexity vis a vis decision making capabilities while using a study method that incorporates both qualitative and quantitative procedures. The study design employs direct observation of established groups over a period of time. The study uses data from videotaped meetings of the group because of the sheer size and extent of the study. Out of the 47 episodes of data collected, 45 were on video tape and 2 on audio tape. The subjects seem self conscious at first owing to the presence of the video cameras but warm up to the idea of having them around and consequently relaxed. (Tim Kuhn, 2000) Group conflict management style was identified by observing how

Formative Evaluation Essay Example for Free

Formative Evaluation Essay The processes of evaluation depend mainly on the purpose of the evaluation and the object to be evaluated. There are many processes of evaluation, but the most important basic distinction in these processes is between formative and summative. Formative Evaluation In this process, the evaluation is done on the strengths, weaknesses and even on how to improve the object. It is usually done by examining the delivery of the service or the technology, implementation of the quality, and the assessment of the organizational personnel, procedures, and context among others. The formative evaluation can be subdivided into the following types of evaluation which are very essential: assessment evaluation, which is used in order to determine the feasibility of the evaluation and how the administrators, sponsors, donors among others can help to improve its usefulness; process evaluation, this mainly involves investigation of the process of service or technology delivery and other alternative delivery processes; needs assessment, this is used to determine who needs the program, the greatness of the need, and even how to meet the need; and lastly, implementation evaluation, which involves the monitoring of the fidelity of service or technology deliverance ( Trochim, 2006). Summative evaluation This process of evaluation examines the outcomes of the effects of some object on the service or technological deliverance. It usually describes what happens subsequent to technology or service delivery, assess whether the object caused the observed outcome, and even est imate the cost associated with the object. The summative evaluation consists of several types and these include: impact evaluation, this usually involves the assessment of the overall effects of the service or the technology; outcome evaluation, this deals with investigating whether the service or the technology caused the effects on that specific target outcome; cost effectiveness and benefit analysis, which deals with questions of efficiency and effectiveness by standardizing the outcomes in terms of values and cost; meta-analysis, which involves the integration of the outcome estimates from the all the studies done to come to an overall judgement about the question(s) being evaluated; and lastly, secondary analysis, which involves reexamination of the existing data so that new questions can be addressed or new methods can used (Trochim, 2006). The most important objectives of evaluation is to provide a useful feedback to various audiences, who may include administrators, sponsors, staff and even donors among others. It is often done to gauge success in attaining organization goals. In most cases, the feedback from evaluation is perceived as useful since it helps in decision-making and policy formulation. However, in very rare cases the evaluation feedback can fail to influence the making of short-term decisions. The evaluation tool is mainly used in a workplace by the employers to review employee performance and is usually done by the supervisors or senior managers. In such a case, it may involve assessing how the employee is doing using performance scale rating which show the strengths and weaknesses in important areas which may include promptness and following given instructions among others. The employees are also given the chance to share their suggestions and concerns about the workplace experiences and details such as pay raise, promotions and many others. Furthermore, the significant progress made in achieving the employee goals in a set time period is also evaluated. These employee goals can be set by the organization or can be set voluntary. Word Count: 560 Reference List Trochim W. T. (2006). Research Methods Knowledge Base. Retrieved on May 2, 2009 from http://www. socialresearchmethods. net/kb/index. php

Partial Rate of Diffusion of Potassium Dichromate

Partial Rate of Diffusion of Potassium Dichromate ABSTRACT Diffusion is the process where molecules spread into spaces. It was observed that the formation of ammonium chloride was near the hydrochloric acid meaning the ammonia diffused faster. One factor that affects the rate of it is the molecular weight of a substance. If molecular weight affects the rate of diffusion, then, the higher or lower the molecular weight the slower or faster the rate of diffusion. To test this factor, a drop of potassium dichromate, potassium permanganate, and methylene blue were placed on each wells of the petri dish containing agar water gel. After thirty minutes, the partial rate and average rate of diffusion are calculated and the results showed that the substance with the lowest molecular weight, potassium permanganate, diffuses fastest. The molecular weight affects the rate of diffusion, the lighter the molecular weight the slower the rate of diffusion and vice versa. The molecular weight of the substance is inversely proportional to the rate of diffusion. INTRODUCTION Diffusion is the process where the molecules of solid, liquid or gas spread spontaneously to occupy a space. Gas molecules are the fastest to diffuse since their molecules are scattered from one another. The molecules of diffusion moves randomly and they spread into available space (Mendoza E, 2003). Hydrochloric acid is formed by mixture of hydrogen ion and chlorine ion. According to the Lewis’ theory of acids and bases, hydrochloric acid is an acid because an element (chlorine) was paired to a hydrogen ion and when it is dissolved in water, it produces hydrogen ion (Ebbing and Gammon, 2011). A 0.1M of hydrochloric acid has a pH level of 1 meaning it is strong enough to dissolved iron nails (Mendoza E, 2003). Hydrochloric acid has a molecular weight of about 36.46 g/mol and can be found inside our stomach because it helps on the digestion of the food we eat (Reece et al, 2005). Ammonium hydroxide is a base because it produces hydroxide ion when dissolves in water. The ammonium hydroxide decomposes forming ammonia and water. In a decomposition reaction, a compound turns into simpler substances or elements. The ammonia has a molecular weight of about 17.031 g/mol and water has about 18g/mol (Mendoza E, 2003). When ammonium hydroxide breaks down into ammonia and water, since hydrochloric acid is an acid, when it is dissolved in water, it will produce hydrogen ion. On the other hand, the chlorine ion(C ) will react with ammonia (N). This reaction is called synthesis reaction (HCl + N O → NCl + +O) (Mendoza E, 2003). From the reaction, ammonium chloride is produced by the synthesis of ammonia and chlorine ion. The ammonia and hydrochloric acid spread to available space until they meet. After they met, a reaction of white powder is formed. The ring is near to the hydrochloric acid compare to the ammonia (France C. 2014) There are many factors that affect the rate of diffusion. When heat is applied, the molecules moves quicker, making the solute dissolves faster. The diffusion rate also increased by stirring where molecules move faster between the molecules of water. Diffusion is also affected by the density of the solvent where diffusion is slower when it has a higher density (Lozano Sandico, 2003). Molecular weight also affects the rate of diffusion. Lighter particles diffuse faster than heavy particles It has an inverse proportionality where the smaller the size of the particles, the faster the rate of diffusion (Tro, 2008). The difference in concentration can affect the rate of diffusion too. The distance of diffusion also affects the rate of it where it takes time to diffuse a particle for farther place. Permeability is also a factor of diffusion where if the substance does not permit a substance to pass through it, thus, there will be no diffusion (Meyertholen E., 2014) Based on the observation, the ammonium hydroxide decomposed into ammonia (N) and water (O), while the hydrochloric acid decomposed into hydrogen ion() and chlorine ion (C). A single displacement had occurred from the ammonia and hydrochloric acid, forming ammonium chloride (NCl). This substance appeared in the tube in the presence of a white smoke. With this, data were obtained to know how molecular weight affects the diffusion of a certain substance. As seen in table 4.1, comparing the ratio of the distances from the two substances up to the smoke over the total distance, the ratio of the ammonia are bigger than the ratio of the hydrochloric acid. But on the first trial, the ratio of hydrochloric acid over total distance is bigger by 0.2cm compared to the ammonia. Using the formula, the ratio of the ammonia over the ratio of hydrochloric acid is used to get the average ratio. With ammonia having a molecular weight of about 17.031 g/mol and the hydrochloric acid having a molecular we ight of about 36.46 g/mol, the lighter the molecular weight of the substance, the faster the diffusion is. However, the molecules of the substances on the observation cannot be seen. Table 4.1. The ratios of the distances from the hydrochloric acid over total distance, from the ammonia over total distance, and ammonia over hydrochloric acid. Trial Distance(cm) (d) Total Distance (D) Ratio d HCl d N 1 19.2 18.7 37.9 0.51 0.49 0.96 2 15.0 20.5 35.5 0.42 0.58 1.38 3 16.8 20.0 36.8 0.46 0.54 1.17 4 17.5 18.5 36.0 0.49 0.51 1.04 This study aimed to determine how molecular weight affects the rate of diffusion. The specific objectives are: To explain the relationship between molecular weight and the rate of diffusion of a certain substance. To prove if molecular weight affects the rate of diffusion, then, the higher or lower the molecular weight the slower or faster the rate of diffusion. MATERIALS AND METHODS To find out if the molecular weight of a substance affects the rate of diffusion, a petri dish of agar water gel with three wells, potassium dichromate (C), potassium permanganate (KMn), and methylene blue were used. The diameter of each well is measured in millimetre using a ruler. Then, a drop of potassium dichromate, potassium permanganate, and methylene blue were dropped on each wells of the petri dish containing agar water gel. It was immediately covered to prevent it from drying. At a three-minute interval for thirty minutes, by lifting the petri dish, the diameter of the coloured area is measured. Using the collected data in the setup, a line graph was used to compare the rate of each substance’s diffusion. RESULTS AND DISCUSSION On the experiment, potassium dichromate, potassium permanganate, and methylene blue in agar-water gel inside the petri dish were used to determine the partial rate and the average rate of diffusion. After 30 minutes of observing, the diameter of the potassium permanganate has the biggest among the rest which is 14, compared to the potassium dichromate which is 12 and to methylene blue which is 11. The average rate of diffusion is calculated by the formula: Where: df= final diameter do= initial diameter t= total time While the partial diffusion rate is calculated by the formula Where: dx=diameter at a given time dx-1= diameter immediately before dx tx= time when dx measured tx-1= time immediately before tx Table 4.2. Rate of diffusion of potassium dichromate, potassium permanganate, and methylene blue in agar-water gel inside the petri dish for 30 minutes. Time (Minute) Diameter (mm) Potassium Permanganate (MW 158g/mol) Potassium Dichromate (MW 294g/mol) Methylene blue (MW 374g/mol) 0 3 3 3 3 6 5 5 6 8 7 6 9 10 8 7 12 11 9 7 15 12 9 8 18 12 10 9 21 13 10 9 24 13 11 10 27 13 11 10 30 14 12 11 Table 4.3. Partial rate of diffusion of potassium dichromate, potassium permanganate, and methylene blue in agar-water gel inside the petri dish for 30 minutes. Time elapsed (minute) Partial rates of diffusion(mm/min) Potassium Permanganate (MW 158g/mol) Potassium Dichromate (MW 294g/mol) Methylene blue (MW 374g/mol) 3 1.00 0.67 0.67 6 0.67 0.67 0.33 9 0.67 0.33 0.33 12 0.33 0.33 0.00 15 0.33 0.00 0.33 18 0.00 0.33 0.33 21 0.33 0.00 0.00 24 0.00 0.33 0.33 27 0.00 0.00 0.00 30 0.33 0.33 0.33 Average rate of diffusion (mm/min.) 0.367 0.300 0.267 Figure 4.3. A bar graph comparing the average rate of diffusion of potassium dichromate, potassium permanganate, and methylene blue in agar-water gel inside the petri dish. Figure 4.4. A bar graph comparing the partial rate of diffusion of potassium dichromate, potassium permanganate, and methylene blue in agar-water gel inside the petri dish. SUMMARY AND CONCLUSION To test the hypothesis, an experiment was performed to test if the molecular weight affects the rate of diffusion, then, the higher or lower the molecular weight the slower or faster the rate of diffusion. An observation using a glass rod to measure the distance on how far the particles of the hydrochloric acid and ammonia travelled until both of them had a chemical reaction producing ammonium chloride. Ammonia that has 17.031 g/mol travelled faster than the hydrochloric acid that has 36.46 g/mol. The experiment was done to support the observation because it is more clearly and visible to the naked eye because the diffusion can be observe in this setup. The potassium permanganate having a diameter of 14 is the biggest among them. The average rate of diffusion of each substances was calculated and the result is potassium permanganate has the fastest rate of 0.367mm/min. potassium permanganate has the lightest molecular weight of 158g/mol. Based from the setup that was performed, the substance that has the lightest molecular weight has the fastest rate of diffusion. This study confirmed the hypothesis where the molecular weight affects the rate of diffusion, the lighter the molecular weight the slower the rate of diffusion and vice versa. The molecular weight of the substance is inversely proportional to the rate of diffusion. However, some errors were made during the experiment like the unequal amounts of the substances placed in the petri dish, methylene blue was spilled from the well, and the three substances are not measured at exactly every three minutes. This study needs further research because there are also other factors other than the molecular weight that could affect the rate of diffusion. It is recommended to research and study other factors that can affect the rate of diffusion. LITERATURE CITED Cain, M.L., Jackson, R.B., Minorsky, P.V., Reece, J.B., Urry L.A., and Wasserman, S.A.2011. Campbell Biology 9th Edition. USA: Pearson Education Inc. p. 53. Ebbing,D. and Gammon, S. D. 2009. General Chemistry Enhanced Edition. USA: Cengage Learning Inc. p. 143-144. France C. 2014. Elements, Compounds and Mixtures: Information retrieval. http://gcsescience.com/e17- ammonium-chloride-reversible.htm> Accessed October 12, 2014. Lozano L.F. and Sandico P.M. C.2003. Science and Technology for the Future II. Makati City: Diwa Learning System Inc. p. 110. Mendoza, E.E.2003. Phoenix Science Series Chemistry. Quezon City: Phoenix Publishing House, Inc. p. 163, 244, 299, 305. Meyertholen E. 2014. Diffusion II: Information retrieval. http://austincc.edu/emeyerth/ diffuse2.htm> Accessed October 13, 2014. Tro, N. J.2008. A Molecular Approach.Oregon, USA: GEX Publishing Services. p. 229.   Ã‚  

Priceline.com Essay -- Economics Case Study e-commerce, solution

Priceline.com Priceline.com is an Internet company that pioneered a unique type of e-commerce known as â€Å"demand collection system† that enables consumers to use the Internet to save money on a wide range of products and services while enabling sellers to generate incremental revenue. Using a simple and compelling consumer proposition of â€Å"name your price,† the consumer is in control of the product they wish to purchase. In the form of individual customer offers guaranteed by a credit card for a particular product or service at a price set by the customer and communicate that demand directly to the participating sellers or to their private databases. The company works by allowing the consumers to agree to hold their offers open for a specified period of time to enable priceline.com to fulfill their offers from inventory provided by participating sellers. Once fulfilled, offers generally cannot be canceled. By requiring consumers to be flexible with respect to brands, sellers and/or product features, the company enables sellers to generate incremental revenue without disrupting their existing distribution channels or retail pricing structures. The company is grounded on the assumption of â€Å"rational self-interest.† In other words, since individuals make rational decisions to achieve the greatest satisfaction or the maximum fulfillment of their goals, Priceline.com has now revolutionized the market industry. By their ‘name and lock your price† strategy, more and more consumers have been able to maximize their satisfaction on differentiated products. The consumers want to spend their incomes to get the greatest benefit from the goods and services they can afford. Priceline.com helps them to achieve their goals. Since the inception of this internet-based company, millions of consumers were able to afford more with less expenditure on their goods. In addition, rational behavior varies among every individual because individual preferences, circumstances, and available information differ. Priceline.com offers various or â€Å"differentiated goods and services† in a broad range of products to purch ase from. â€Å"E-Commerce Pioneer Priceline.com Sells 20,000 Leisure Airline Tickets In Six Weeks.† As ticket sales accelerated, priceline.com has become one of the nation’s top 10 most-visited commerce Web sites. In it’s first six weeks of operation, pricelin... ...e expected rate of return is far greater than the interest invested in producing advertisement. Moreover, they expect companies to support their business strategy so the other companies in return can generate greater revenue as well. Conclusively, Priceline.com has brought an exciting and provides other businesses with inspiration to follow their strategies. Many consumers have benefited from this Internet Company and as a result have saved money to spend on other wants. Now we have the option of choosing a price and giving countless vendors the chance to bid. For better or worse, this could transform the way we think of shopping, as well as the way in which we do it. Conceivably, it could alter the nature of balance and power between vendors and consumers. In addition, it restructures long-standing capitalistic business and sales traditions. This new business model appears to have the potential to give enormous new powers to people who want to buy things, since their price is being offered to many thousands, even millions, of possible sellers. The new business method venture is successful and it opens the doors for consumers who are tired of the fixed prices they have to pay.