Transactional Leadership and Transformational Leadership

Transactional Leadership and Transformational Leadership Compare and contrast between Transactional Leadership and Transformational Leadership. What are the significant differences between the two leadership models? Give relevant examples. 1.0 What is Leadership? Leadership has been described as the process of social influence in which one person can enlist or procure the aid and support of others in the accomplishment of a common task. It is the way of organizing a group of people for the purpose of achieving a common goal. A leader is the person to who is capable of guiding, inspiring and associating others with the dream goal. In addition, there are various types of leadership models which include transactional leadership, transformational leadership, and charismatic leadership and so on. In this contest, transactional leadership and transformational leadership will be compared and contrasted. 2.0 Description Transactional Leadership Transactional leadership is a term used to classify a formally known group leadership theories that inquire the interactions between leaders and followers. A transactional leader focuses more on a series of transactions. This person is interested in looking out for oneself, having exchange benefits with their subordinates and clarifies a sense of duty with rewards and punishments to reach goals. The transactional leadership style developed by Bass is based on the hypothesis that followers are motivated through a system of rewards and punishment. The transactional leaders view of the leader / follower relationship is one of quid pro quo or this for that. If the follower does something good, then they will be rewarded. If the follower does something wrong, then they will be punished. Transformational Leadership Transformational leadership is defined as a leadership approach that causes change in individuals and social systems. In its ideal form, it creates valuable and positive change in the followers with the end goal of developing followers into leaders. Enacted in its authentic form, transformational leadership enhances the motivation, morale and performance of his followers through a variety of mechanisms. These include connecting the followers sense of identity and self to the mission and the collective identity of the organization; being a role model for followers that inspires them; challenging followers to take greater ownership for their work, and understanding the strengths and weaknesses of followers, so the leader can align followers with tasks that optimize their performance. The theory behind transformational leaders, on the other hand is based, on the hypothesis that leaders can exploit a need of the follower. These particular needs are not based on quid pro quo transactions, but higher order needs. These needs are those of the total person, and are closely aligned with the internal motivational factors of the follower. So at one end of the spectrum we have transactional leaders that are making many deals with those being led. On the other end of the spectrum, we have transformational leaders, which are looking to satisfy a greater need of an individual. 3.0 Mission Transactional Leader: approaches followers with an eye to exchanging one thing for another à ¢Ã¢â€š ¬Ã‚ ¦ Burns pursues a cost benefit, economic exchange to met subordinates current material and psychic needs in return for contracted services rendered by the subordinate à ¢Ã¢â€š ¬Ã‚ ¦. Bass Here, transformational leaders make exchange of work with their followers for benefit or rewards. Followers are motivated with the rewards being given. Transformational Leader: recognizes and exploits an existing need or demand of a potential followerà ¢Ã¢â€š ¬Ã‚ ¦ (and) looks for potential motives in followers, seeks to satisfy higher needs, and engages the full person of the follower à ¢Ã¢â€š ¬Ã‚ ¦ Burns The leader who recognizes the transactional needs in potential followers but tends to go further, seeking to arouse and satisfy higher needs, to engage the full person of the follower à ¢Ã¢â€š ¬Ã‚ ¦ to a higher level of need according to Maslows hierarchy of needs à ¢Ã¢â€š ¬Ã‚ ¦ Bass Here, transformational leaders tend to focus on the move to change the followers and the organization. In addition, as explained by Bass, the transactional leaders focus on the organizational work within the organizational culture as the way it exists; on the other hand, the transformational leaders try to bring changes to the organizational culture. 4.0 Personal characteristics Transactional Directive Dominating Action-Oriented Transformational Self Confident Assertive Seizes Opportunities Tolerates Risk Uses Systems Thinking 5.0 Characteristics of Transactional leaders 1. Contingent rewards: Transactional leaders link the goal to rewards, clarify expectations, provide necessary resources, set mutually agreed upon goals, and provide various kinds of rewards for successful performance. They set SMART (specific, measurable, attainable, realistic, and timely) goals for their subordinates. These leaders work on some aspects which include; Exchange of rewards for effort contracted. Rewards for achieving goals promised. Accomplishments recognized. Clear goals and recognition once they are reached is held to result in individuals and groups achieving expected levels of performance. 2. Management by exception (active): Transactional leaders actively monitor the work of their subordinates, watch for deviations from rules and standards and taking corrective action to prevent mistakes. These personalities also include; Standards specified by leader. Deviations are searched from the rules and standards. Corrective action taken quickly if necessary. May involve follower punishment. 3. Management by exception (passive): Transactional leaders intervene only when standards are not met or when the performance is not as per the expectations. They may even use punishment as a response to unacceptable performance. These leaders have some uniqueness which include; Leader awaits emergence of problems before acting. Intervenes only if standards are not met. 4. Passive-avoidant/Laissez-faire: The leader provides an environment where the subordinates get many opportunities to make decisions. The leader himself abdicates responsibilities and avoids making decisions and therefore the group often lacks direction. This can also be explained as; Agreements are not specified; there are no expectations set; and goals and standards are avoided. 6. 0 Characteristics of Transformational Leadership 1. Charisma or idealized influence The degree to which the leader behaves in admirable ways that cause followers to identify with the leader. Charismatic leaders display convictions, take stands and appeal to followers on an emotional level. This is about the leader having a clear set of values and demonstrating them in every action, providing a role model for their followers. 2. Inspirational motivation The degree to which the leader articulates a vision that is appealing and inspiring to followers. Leaders with inspirational motivation challenge followers with high standards, communicate optimism about future goals, and provide meaning for the task at hand. Followers need to have a strong sense of purpose if they are to be motivated to act. Purpose and meaning provide the energy that drives a group forward. It is also important that this visionary aspect of leadership be supported by skills that allow the leader to articulate his or her vision with precision and power in a compelling and persuasive way. 3. Intellectual stimulation The degree to which the leader challenges assumptions, takes risks and solicits followers ideas. Leaders with this trait stimulate and encourage creativity in their followers. 4. Individualized consideration or individualized attention The degree to which the leader attends to each followers needs, acts as a mentor or coach to the follower and listens to the followers concerns and needs. This also encompasses the need to respect and celebrate the individual contribution that each follower can make to the team (it is the diversity of the team that gives it its true strength). Transformational Leaders Motivating for performance beyond expectations. Inspiring for missions beyond self interest. Instilling confidence to achieve performance. Transformational leadership goes beyond transactional leadership. Transactional Leaders Motivating for performance at expected levels. Initiating structure to clarify the task and roles. Stressing the link between reward and goal achievement. Uses agreed upon performance to motivate. Performance beyond expectations 7.0 Assumptions Transformational leaders People get inspired by a person then they will follow that person. Great things can be achieved by person with vision and passion. Things are gotten done by the way they are injected with enthusiasm and energy. Transactional Leaders Followers/Employees are motivated by reward and punishment. Orders are given by the superiors, and the subordinates have to obey the orders. These subordinates are not self-motivated rather they need to be intimately monitored and controlled in order to get the work done from them. 8.0 Differences Transitional leaders Transactional leaders are aware of the link between the effort and reward Transactional leadership is responsive and its basic orientation is dealing with present issues Transactional leaders rely on standard forms of inducement, reward, punishment and sanction to control followers Transactional leaders motivate followers by setting goals and promising rewards for desired performance Transactional leadership depends on the leaders power to reinforce subordinates for their successful completion of the bargain. Transformational leaders Transformational leaders arouse emotions in their followers which motivates them to act beyond the framework of what may be described as exchange relations Transformational leadership is proactive and forms new expectations in followers Transformational leaders are distinguished by their capacity to inspire and provide individualized consideration, intellectual stimulation and idealized influence to their followers Transformational leaders create learning opportunities for their followers and stimulate followers to solve problems Transformational leaders possess good visioning, rhetorical and management skills, to develop strong emotional bonds with followers Transformational leaders motivate followers to work for goals that go beyond self-interest. In addition, the below table will give a detailed contrast of the differences between Transactional leadership and transformational leadership. Transactional Leadership Transformational Leadership à ¢Ã¢â€š ¬Ã‚ ¢ Leadership of the status quo. Effective in stable organizations and contexts. More likely to be observed in a well-ordered society. à ¢Ã¢â€š ¬Ã‚ ¢ Leadership of change (within leaders, followers and organizations). Important in times of distress and rapid and destabilizing change. à ¢Ã¢â€š ¬Ã‚ ¢ Focuses on social and economic exchanges between leaders and followers, using contingent rewards and administrative actions to reinforce positive and reform negative behaviors. à ¢Ã¢â€š ¬Ã‚ ¢ Focuses on organizational objectives and organizational change by disseminating new values and seeking alternatives to existing arrangements. à ¢Ã¢â€š ¬Ã‚ ¢ Leader-follower relationship sees each exchange needs and services to satisfy their independent objectives. à ¢Ã¢â€š ¬Ã‚ ¢ Leader-follower relationship sees purposes of both become fused, leading to unity and shared purpose. à ¢Ã¢â€š ¬Ã‚ ¢ Motivates followers by appealing to their own self-interest (for example, pay, and promotion). à ¢Ã¢â€š ¬Ã‚ ¢ Attempts to raise follower needs (following Maslows hierarchy) to higher levels (for example, self-esteem) and to develop followers into leaders. à ¢Ã¢â€š ¬Ã‚ ¢ Based on directive power acts. à ¢Ã¢â€š ¬Ã‚ ¢ Based on interaction and influence. à ¢Ã¢â€š ¬Ã‚ ¢ Follower response based on compliance. Supervision likely to be important. à ¢Ã¢â€š ¬Ã‚ ¢ Follower response based on commitment. Supervision may be minimal. à ¢Ã¢â€š ¬Ã‚ ¢ Leadership act takes place but leaders and followers not bound together in mutual pursuit of higher purpose. à ¢Ã¢â€š ¬Ã‚ ¢ Leaders and followers raise one another to higher levels of motivation and morality. à ¢Ã¢â€š ¬Ã‚ ¢ Founded on peoples need to make a living by completing tasks. à ¢Ã¢â€š ¬Ã‚ ¢ Founded on peoples need for meaning. à ¢Ã¢â€š ¬Ã‚ ¢ Focuses on situational authority, politics and perks. Involves values, but typically those required for successful exchange relationships (for example, reciprocity, and integrity). à ¢Ã¢â€š ¬Ã‚ ¢ Focuses on personal power, values, morals and ethics. May be demonstrated by anyone in an organization in any type of position. à ¢Ã¢â€š ¬Ã‚ ¢ Emphasis on day-to-day affairs, business needs short-term goals and quantitative information. à ¢Ã¢â€š ¬Ã‚ ¢ Transcends daily affairs, concentrating on long-term issues. à ¢Ã¢â€š ¬Ã‚ ¢ Leader-follower relationship may be established quickly. A relatively impersonal relationship maintained only as long as benefits outweigh costs. à ¢Ã¢â€š ¬Ã‚ ¢ May take time for leader-follower bonds to develop. A personal relationship that may persist when costs outweigh benefits. à ¢Ã¢â€š ¬Ã‚ ¢ Tends to be transitory. Once a transaction is completed, relationship may need to be redefined. à ¢Ã¢â€š ¬Ã‚ ¢ Tends to be enduring. à ¢Ã¢â€š ¬Ã‚ ¢ Emphasizes tactical issues. à ¢Ã¢â€š ¬Ã‚ ¢ Emphasizes missions and strategies for achieving them. à ¢Ã¢â€š ¬Ã‚ ¢ Typically involves working within current systems. à ¢Ã¢â€š ¬Ã‚ ¢ May involve redesigning of jobs to make them more meaningful and challenging. Emphasizes realization of human potential. à ¢Ã¢â€š ¬Ã‚ ¢ Supports structures and systems that emphasize outcomes. à ¢Ã¢â€š ¬Ã‚ ¢ Aligns structures and systems to overarching values and goals. à ¢Ã¢â€š ¬Ã‚ ¢ Follower counseling focuses on evaluation. à ¢Ã¢â€š ¬Ã‚ ¢ Follower counseling focuses on personal development. à ¢Ã¢â€š ¬Ã‚ ¢ Atomistic worldview and moral altruistic motives based on teleological perspective (that is to say, based on consequences). à ¢Ã¢â€š ¬Ã‚ ¢ Organic worldview and moral altruistic motives based on deontological perspective (that is to say, based on promises). In addition to the above table, their differences can also be categorized as the following; Basis Servant or steward Leadership Transformational leaders have idealized vision. They are likable and honorable hero that worth imitating and identifying. They lead to promote change in the environment. On the other hand, Transactional leaders have the basis of exchange process. They work on mutual need satisfying, giving rewards for job performance. They lead to promote stability in the workplace. Leadership development Transformational leaders tend to have more power. They empower and energize their followers excel. They re-engineer their followers. On the other hand, Transactional leaders design structures, control and reward system in their workplace to improve effectiveness and efficiency. Lead by example Transformational leaders are charismatic. They handle and meet individuals needs. As well, they upgrade the level of the needs. On the other hand, Transactional leaders possess different types of leadership style, using the right style at the necessary time. Proactive change agent Transformational leaders make an effort to inspire their followers to help them change and transcend their selves for greater purposes. On the other hand, Transactional leaders reward their followers in terms of their performance. They are reactive to change at instances. Vision creator propagandist Transformational leaders make effort to create a vision of desired future state. They communicate pain of change that worth the effort. On the other hand, Transactional leaders focus on company goals and objectives. They make sure the needed goals are achieved. 9.0 Examples Transactional Leadership In this kind of leadership, a clear chain of command is established. The leader motivates his subordinates by presenting them rewards and punishments. All requirements for a subordinate are clearly stated with corresponding rewards. If they fail to satisfy those requirements, they will receive a corresponding punishment. A couple of famous examples of transactional leaders are Joseph McCarthy and Charles de Gaulle. Transformational Leadership Transformational leaders lead by motivating by their followers. Leaders appeal to their followers ideals and morals to motivate them in accomplishing their tasks. Basically, these kinds of leaders empower their followers using their own beliefs and personal strengths. Simply put, they inspire their followers. Famous transformational leaders include Martin Luther King Jr. and Walt Disney. 10.0 Conclusion Finally, the transactional style of leadership is viewed as insufficient, but not bad, in developing the maximum leadership potential. It forms as the basis for more mature interactions but care should be taken by leaders not to practice it exclusively, otherwise it will lead to the creation of an environment permeated by position, power, perks, and politics. On the other hand, transformational Leadership by definition, seek to transform. When the organization does not need transforming and people are happy as they are, then such a leader will be frustrated. Like wartime leaders, however, given the right situation they come into their own and can be personally responsible for saving entire companies.

A Reaction Paper to the Article “Versioning: a Smart Way to Sell Information” by Carl Shapiro and Hal Varian

â€Å"Information Technology is changing the way companies operate. † Porter, et al. discussed the value of information and how its acquisition, processing, and transmission brought different dimensions of pricing and cost reduction for buyers and sellers around the world. Because information is valuable, diversity in strategies were employed to outperform one business from another. Incorporating IT is not just one way but the best stratagem, so far. IT integration offers wider possibilities on how to facilitate information extensively. Much more opportunities arrived when the web, the greatest source for data transfer and possession began its service through internet. The use of internet has transformed the way information is to be manipulated, acquired, and transferred easily from one user to the next. This concept of transfer became the foundation of businesses to invest more on IT aiming on earning using information shift through the so-called versioning. Versioning is supposed to mean as an upgrade, or a reproduction of an improved copy of product/s. Like books, version or more known as edition defines how valuable a book is judging from reprints it has gone through and the copies sold out from every reprint; and normally the cost of the first edition varies from the value to the strength of requested copies demanded by the public. Digital information versioning however, does not confine to an upgrade only. Because internet has provided several sources of acquiring information, capitalists reengineered the idea of versioning by looking at digital information as valuable goods to sell electronically. The business logic of selling also would not just conform to traditional and manual sides, but also begun pursuing global scale to outrun competitors. This is where strategy comes in. To strategically sell information goods, you need to determine its economic valuable first. According to Shapiro, et al. , there is a distinctive cost structure that first copy is often expensive and subsequent copies become very cheap. We are talking about production costs here – the same perception taken from editions of books also. Because of this, the more information is reproduced, the lower the average of cost production. With the speed of internet aiding the transfer, variable cost of production disappears almost completely. (Shapiro, p 108) Incorporating business strategy has then changed the interpretation of versioning. The basis of its purpose revolves in the possibilities of revenues that it may bring forth to entrepreneurs selling these goods. Now, versioning has several intentions that feature how important information is being sought through the internet. With the correct pricing, customer’s ability to purchase software and downloadable data in the market is determined and assessed. Understanding Strategic Risks in Versioning: A Smarter Way to Sell Digital Goods The objective of versioning is to continuously present an upgrade or development of an earlier adaptation as perceived in the concept of technology innovation which is expounded in the time of its release and use, as presented by International Standard ISO 861. While technology advances, industrialists found a better way of expanding the purpose of versions also. Versioning becomes the idea of goods marketability in the internet. For example, free version is offered for try outs. Most net users are attracted by freeware. The range of website providers is getting larger to offer such promotions. The logic of free version is to offer a â€Å"taste† of the product being sold. These â€Å"teasers† are very common in antivirus software which provides just enough of main service of the item. However, they are also a prelude to buying the higher or upgrade version which provides full service of the merchandise at a certain price. Whether a user will purchase the item remains to be seen on how imperative it is for him to obtain it. AVG 2011 free edition, for instance is antivirus software that offers security components like resident shield, license, identity protection, anti-spyware, email scanner, anti-rootkit, link scanner, update manager, and PC analyzer. After downloading the free edition, the AVG dashboard or dialog box contains an ad pertaining to another type of AVG software that offers larger scope of protection, named AVG Internet Security 2011 and downloading it would mean urchasing at $54. 99 for 1-year subscription. AVG Internet Security 2011 also offers an unlimited and complete virus protection that includes faster scanning (meaning the free version is time-consuming? ), enhanced firewall and system tools support. Taking a tour at their website, another lead does not offer free edition but a regular price of the AVG antivirus at $34. 99, and several other offers like Home Security, Business Secu rity, and Trial versions. Versioning becomes a form of customer and information segmentation. It is easier to classify the customers who need information depending on the coverage (speed, quality, and technical services). The higher the quality and comprehensiveness of a software, the more expensive it becomes and the fewer the chances are of its availability of being downloaded, printed or copied, unless for a biddable price. And so the higher or lower the price a customer is willing to pay for getting the information, the best way of identifying bidder/customers’ â€Å"class†. Categorizing different types of user enable business owners to understand trends, forecast future version launches and expansions that include revenue projectile and cost calculations. Versioning is also business intelligence per se because it is a form of gathering information from customers who reveal how much they are willing to pay for information they sought. Business Intelligence is knowledge about customers, competitors, business partners, competitive environment and internal operations of the organization that gives the ability to make effective important and strategic business decisions. With the knowledge acquired from classes of versions and types of purchases a customer makes, a business can start raising or dropping prices consequently from the analysis that a â€Å"professional† or frequent computer user will value the latest upgrades more than a simple home user. Consequently, once a customer starts bidding or showing interest on a product or information, he/she also willingly gives personal data regarding his work, his contact info (email or phone numbers and sometimes even home addresses) as a form of registration. The truth is the customer’s data goes on into a database as company’s resource for forecast, future product offers and other customer related transactions. While this strategy is good, there is a downbeat side some organizations normally neglect to respond to. For some companies who do not play fair, moral principles are ignored. Whereas, business intelligence through versioning provides competitive edge to the company, the method of acquiring data from customers can sometimes cross the line. The transfer and receipt of information becomes the means of spreading spywares, malwares and adware that are damaging to users and other companies. Whether it may appear harmless to include spoofing (forging of the return address on an email), and key loggers (Trojan horse that records every keystroke and mouse click) as a means to understand their customers better, it is a malicious form of invasion of privacy of an individual – a crime that is also often not apprehended because of the broadness of the scope of the internet. Crossing the lines could lead to mistrust of customers and future clients further damaging the reputation of the establishment. Malwares that are incorporated to version download sometimes cannot be entirely blamed to the organization who seeks competitive advantage. Internet is full of hackers, either a participant of the rival or simply an individual who enjoys making pranks to others. An unprotected website can be easily hacked and integrate viruses to the system even with the assurance of the host’s protection. Ensuring that the website is protected from getting data stolen and damaged can preserve company integrity. Information goods sellers should also not traverse the code of ethics to gain competitive edge. While seemingly technology reacts positively to the interest of the business, businessmen must hang on to not just building trust with their customers but also protecting the trust given to them so as to build long-lasting customer relationships with them. On the other hand, versioning can either upgrade or downgrade the quality impression of information goods, too. While free version clicks in the market, there are risks on premium quality versions of information goods. Oestreicher-Singer, et al stated that technologically savvy customers especially the non ethical, support-independent advanced users) view digital goods as being of higher value, and possibly as better substitutes than physical goods subjecting digital goods to piracy and therefore affecting the demands of emerging ones. Piracy is the unauthorized reproduction of digital goods under copyright, infringing the holder’s exclusive privileges to his property. It happens â€Å"because the copy of a copy typically does not deteriorate in quality† and â€Å"copying products can become a wide-spread phenomenon – as illustrated by the surge of file-sharing networks. (Peitz, 2003) Piracy usually occurs because â€Å"users try to maximize their expected benefit (utility). † (Ozertan, 2008) Peitz, et al. further concluded that non-authorized copy may either leave the seller’s profit unchanged or reduce it, because of limited supplier’s monopoly to the goods. Then again, versioning with segmentation and monitoring can prevent it from happening by adopting copyright protection and employ resale rights (which offers restrictions on copies and reselling) for every version released. Espousing lower price for premium versions also decreases piracy because it curbs the edge of can’t-afford notion, therefore allowing the user to aim for the original rather than the pirated copy. In terms of free version, it can have unlimited reproduction since it does not restrict a user from copying and transferring it to another user; however in effect provides an excuse for a non ethical independent user to sell it to another user at a higher price and misleading it as a premium/professional version. This type of piracy often strikes on software copy sold as physical goods (CD,DVD copies). Information goods versioning, in order to work effectively should be implemented correctly and according to the output of the company. Variable costs may disappear completely (Shapiro, et al. ) upon the reproduction of copies by the seller, but neglecting the end-user assessment of product related to copyright concerns, piracy control, privacy policies and website security can turn these variable costs into steep costs during loss of goods monopoly, corrupted reputations from unsecured websites, and unethical business practices for incorporating malwares in selling information goods. Even if versioning poses great possibilities of gaining competitive advantage against rivalries, it also carries responsibilities and risks for the vendor during its application. Versioning may be a smarter way of selling online goods, but vendor should be smarter by focusing on the economic structure and welfare of digital goods first and understanding its trends and unpredictability caused by the constant technology enhancement. What might have worked 5 years earlier could not simply work today. Rather, there is a need to induce another strategy with a strategy to make it work, or replace it completely with another. To date, versioning still applies at present, however more techniques arrived in the picture such as viral marketing, affiliate programs, SEO, collaboration and virtual teams, etc that is in fact a result of studied digital goods selling methods years ago.

The Do This, Get That Guide On Best College for Writing

The Do This, Get That Guide On Best College for Writing The Battle Over Best College for Writing and How to Win It It's fine to get writing assistance if you need it. Timely delivery of work when writing an essay is important to a client because it enables the client to examine their work, and get it corrected before delivery. You can receive your essay done in under 4 hours, and it'll be of top quality. So, you may rest assured your term paper service is going to be delivered by means of a pro. Our writers precisely adhere to the clients' instructions. It doesn't even matter if you wish to earn money from your blog or not. Their endless collection of literary magazines vary from screenplays to comics. Our crew of professional writers is prepared to supply you with the assistance that you require. If you're asked to select a topic, make certain it's narrow enough to permit you clear focus, but broad enough that you'll have access to adequate research. Nonetheless, students from all over the planet, have already taken advantage of hiring professional and trustworthy online writing companies, like, for example, writing-an-essay. Have a look at our set of resources below to find out more about financial aid choices. Scribendiis a favorite of several students and a dependable editing resource. After all, dogs can't blog! Save the Cat is basically a formula book, centered on the structure of screenplays. Another great quality of Scrivener is its compatibility with numerous file formats, making it simple to export in only about any document type. There's also an on-line version. Writing essays for college is probably going to be a challenging procedure. Michigan's notable creative writing MFA program remains top-ranking for the last few decades, and that doesn't seem to ch ange anytime soon. There you'll not simply learn about how to compose structured papers but also are going to have terrific chance to enhance your writing skills. Before launching a writing center, it's vital to acquire buy-in from the full community. While Columbia is famous for its preparation in journalism, they also provide an extremely nice creative writing program. Emory University would like that will help you attain that dream. University of Michigan is among the very best state universities in the nation and has a top-notch MFA program. Anyway, if you're a multilingual writer, Yale's writing center supplies you with a wide variety of resources, including several tutorials to increase your English. Folks usually do not fit this category, especially in formal writing. Brown's Literary Arts program offers one of the best MFAs in the nation and an undergraduate major. Therefore, if you know from the beginning that creative writing suits you, Vanderbilt's program is tough to beat. All her books are extremely complete and up-to-date. Poetry courses require a minimum of five poems to be considered, whilst fiction courses require a minumum of one short story. It will inform you how and why to move past the five-paragraph themes you learned to write in high school and get started writing essays which are more analytical and more flexible. Thus, don't hesitate to purchase essays online here. Web-based programs provide the exact same rigorous curricula as brick-and-mortar choices, leading to precisely the same job opportunities after graduation. Furthermore, students are given a chance to travel and write being in any area of the world as a result of Global Fellowship. Just take under consideration the sort of graduate program the school has. It requires an intermediate level of knowledge in a second language to allow a writer the flexibility to experiment with the first language, as their website states. Some of the greatest writing experience it's possible to get is found away from the classroom, so see what sort of writing-related extracurriculars a school has. Following that, the decision is yours. Nonetheless, there are a number of wonderful choices. Accelerated and speedy track options enable students to take extra credits each semester or enroll in coursework during the summertime.

Maximizing Profits in Market Structures Paper - 1129 Words

Maximizing Profits 1 MAXIMIZING PROFITS IN MARKET STRUCTURES PAPER Maximizing Profits in Market Structures Paper Sharon Ballard XECO/212 Michelle Council November 7, 2010 Maximizing Profits 2 Maximizing Profits in Market Structures Paper The structure of a market is defined by the number of firms that are competing in that market, along with factors such as: the ways in which these firms are alike or different, and the obstacles that exist in any new firms entering that market. In this report I will discuss Competitive Markets, Monopolies, and Oligopolies. I will point out what role each of the market structure play in the economy. This report will list†¦show more content†¦If the marginal cost outweighs the marginal Maximizing Profits 3 revenue, then the firm begins to lose money. The firm is looking for the right number that will maximize profits by having a higher revenue than cost. The firm maximizes profits based on output by determining the balance between marginal cost and marginal revenue. If the firms’ marginal revenue is higher than the marginal cost the firm will increase its’ output to reach the balance. If the firm’s marginal cost is higher that its’ marginal revenue than the firm will reduce the quantity output until it reaches the balance. If the firm has reached the revenue equal to the cost at a set output, then the firm has maximized profits based on output. Barriers to entry are considered low as only a small investment may be required to enter the market. The role that competitive market plays in the economy is it â€Å"tries to maximize profit, which equals total revenues minus total cost.† Monopolies are a group of business people who act as one. Any firm that has a monopoly structure will have the most price control for its goods. The firms that operate in competitive structures will have no control over their prices. A firms’ capacity to control the prices of its goods is called price management. This is a critical element in market structure. Monopolies have no public ownership. â€Å"When the competition is low and a company is dominating the demand curve it creates a monopoly becauseShow MoreRelatedDifferentiating Between Market Structures Essay1077 Words   |  5 PagesDifferentiating between Market Structures The structure of a market is defined by the number of firms in the market, the existence or otherwise of barriers to entry of new firms, and the interdependence among firms in determining pricing and output to maximize profits. The author of this paper will cover: the advantages and limitation of supply and demand identified in the simulation, the effectiveness of the organization in which the author knows, and how the organizations in each market structure maximizesRead MoreEvaluation of Baumols Model1733 Words   |  7 Pagesunits at a high price. There are different managerial models in a firm embodying different assumptions like the Profit Maximization Model which is a traditional model, the Marris Model, the Williamson Model and the Baumol Model. This write-up will focus on understanding management preferences in terms of price, revenue and profit maximization, critically evaluate the management model of Baumol and review the extent to which the Baumol modelRead MoreNothing742 Words   |  3 PagesPricing Analysis Paper 1 Week 8 Pricing Analysis Paper Brian Newman Business 626 Dr. Mohammed Nadeem June 4th, 2012 Pricing Analysis Paper 2 Table of Contents Executive Summary†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦..3 First Data Set†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦4 Second Data Set†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.6 Future Scenarios†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.7 Summary†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦..8 Referances†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Read MoreBirch Paper Company1521 Words   |  7 PagesBirch Paper Company Internal Environmental Analysis What they do? – Birth Paper Company is a medium sized, partly integrated paper company, producing white and kraft papers and paperboard. 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