Impact of Changes to Baby Milk Prices

Impact of Changes to Baby Milk Prices Introduction The article â€Å"Parents want milk for babies to be made a price controlled item† states the price of baby milk are getting higher and higher day by day and many parents can’t buy those expensive baby milk products so parents have to switch to the alternative products but as they are cheaper and because of that its cause diseases to the babies. So now those parents want government to take apart to fulfil their problem. Micro Economics Law of Demand When the price of any product increase then the quantity demanded will decrease Law of Supply When the price of any product Increase then quantity supplied will increase. According to the article, the price of the baby milk has been increased by the manufacturer in order to gain more profit, which result in quantity decreased. The effect is known as Law of demand. Additionally, customers are shifting to the alternative goods, which shift the demand curve of the alternative goods to rightward. This is known as Substitute effect which describe as follows; Substitute effect: The substitution effect states that an increase in the price of a product will urge buyers to purchase elective products. The substitution effect measures the amount the higher cost encourage buyers to use different products, assume the same level of income. However customers can’t afford the higher price for the baby milk, so there is an income effect on the quantity demanded, which lead the demand curve to leftward. In the context of economic theory, the income effect is the change in an individuals or economys income and how that change will impact the quantity demanded of a good or service. The relationship between income and the quantity demanded is a positive one, as income increases, so does the quantity of goods and services demanded. Other than the demand has a few progressions, even the supply will have a few changes as well. Suppliers will never do a business without picking up high benefit, so it satisfies the law of supply that when other things remain constant, the higher the price of goods, the more quantity supplied. . A price ceiling might be connected to make it illicit to charge a price above the specified amount. The price ceiling ought to be underneath the Equilibrium price so that to guarantee it can bring out the effects needed. This will verify that all legal transactions occurring will be at a price at or underneath the price ceiling. By actualizing a price ceiling for baby milk, parents can then buy baby milk at a lower price and will probably prompt expanded demand. Meanwhile, supply could be relied upon to drop as suppliers will be unwilling to supply a high amount at a lower cost. Hence, deficiency will happen and it will be represented to by a gap between quantity demanded and quantity supplied. Be that as it may it will benefit parents who are not able to buy baby milk at first. An alternate choice is that the government present subsidies for baby milk items. By presenting subsidies, the government can drive down the price for baby milk in the business sector. This happens as the introduction of subsidies move the supply curve to the right. This expands the quantity supplied and diminishes the price for baby milk. However, this method likewise has its repercussions as the government may cause more expenses as it gives subsidies to the item. In the event that the government set the value higher than the equilibrium price, it will additionally cause issue which is surplus of the baby milk. Surplus is the quantity supplied of the good surpasses the quantity demanded for the goods. Thusly, government cant set the price excessively low or excessively high which will result in enormous issues to customers and suppliers. As I would like to think, this issue is happening on the grounds that baby milk is considered as an inelastic item. This implies that regardless of the fact that the price of baby milk is high, individuals will even now need to purchase them. Some may contend that parents can select less expensive baby milk products, how many parents would really take risk and conceivably hurting the development of their own child? This is the reason baby milk is impressively inelastic. So this demonstrates that baby milk has quite weak substitutes making it inelastic. An alternate test that can demonstrate that baby milk is inelastic is to see the extent of income used on child milk. So due to this, numerous business firms comprehend that when they increase the price of baby milk, they can build their aggregate income. Most firms are smart enough to understand that reducing price for inelastic items will just imply that they will make less profit. Since, price of baby milk wont be going lower whenev er soon, it is just consistent that parents request a price ceiling to be forced. Conclusion Baby milk is a paramount item in the market and wields extraordinary impact on the development of the future generation. Hence, the government ought to do something inside their capacity to guarantee that parents can afford the price of quality baby milk products for their children. The most proficient path for the government to do so would be to introduce subsidies in the market for baby milk. This exertion will be the most great and expand the prosperity of children across the country, at the expenses of the need to distribute resources to fund the subsidy. Contrasted with a price ceiling which has numerous inefficiencies, subsidies has significantly more benefits. Executing subsidies will be the best approach with the goal that each child can delight in fitting development in this extremely imperative phase of their lives. References: Parents want milk for babies to be made a price controlled item October 6, 2012  http://www.thestar.com.my/News/Nation/2012/10/06/Parents-want-milk-for-babies-to-be-made-a-price-controlled-item/ Income Substitution effect Tejvan R Pettinger  http://www.economicshelp.org/blog/glossary/income-substitution-effect/ Price Ceilings B. Taylor, 2006  http://economics.fundamentalfinance.com/price-ceiling.php Article Parents want milk for babies to be made a price controlled item KUALA LUMPUR: Parents are urging the government to consider making baby formula a controlled item in order to curb recent price hikes. They are concerned that the manufacturers increase in prices would cause lower income parents to choose the cheapest and lowest quality milk in the market which would jeopardise their babies growth. A mother of two, housewife Azila Awaludin, 35, expressed her concern over the volatile prices of the products lately. My husband doesnt earn much and Im forced to choose the cheapest milk for my baby, she told Bernama. Father of one, Al-Hafiz Jaamat Wok, 27, felt the government needed to play a bigger role in controlling the hike in baby formula prices. The government should subsidise baby milk and not take this issue lightly as many parents are not able to cope with the extra expenses now, he said. Wan Norasikin Abdul Cader, 42, who is a babysitter, said she had to spend an extra RM200 monthly just on baby formula alone. Supermarkets usually offer promotions on other items but never for baby formula, she added. Meanwhile, a Jalan Kasipillay mini market owner, K. Sathiah, 43, explained that people were buying less baby formula since prices started going up recently. Most people have to choose the cheapest milk and we have to sell it lower than the suppliers set prices. I hope the government can do something to control the situation, he said. A media report on Friday said that some baby formula manufacturers had increased prices up to RM15 per kg in the past two weeks and others would follow suit soon. It also quoted Domestic Trade, Cooperatives and Consumerism Minister Datuk Seri Ismail Sabri Yaakob as saying the government did not control the prices of baby formula. Bernama

Women Entrepreneurs

WOMEN ENTREPRENEURS: Women entrepreneurs may be defined as a woman or a group of women who initiate, organize and run a business enterprise. In terms of Schumpeterian concept of innovative entrepreneurs, women who innovate, initiate or adopt a business activity are called business entrepreneur. It is the group of women or single women running an enterprise or company in order to earn profit. Now days because of  Ã‚   women empowerment women are stepping-stone into the industries and are taking the place of men. Now a day's women's are running several business like beauty parlours, switching shops, boutiques, etc.The areas chosen by women are retail trade,  restaurants, hotels, education, cultural,   cleaning insurance and manufacturing. Women entrepreneurs have been making a significant impact in all segments of the economy in Canada, Great Britain, Germany Australia and US. Till the turn of the century, man has enjoyed a dominant position. But change in position technological innovation and modern way of thinking can reduce the disparity between man and women, and bring about equality and equity between them, the need of the hour in women empowerment both through provision of employment and enterprise creation.The Government of India has defined women entrepreneurs based on women participation in equity and employment of a business enterprise. Accordingly, a woman entrepreneur is defined as an enterprise owned and controlled by a woman having a minimum financial interest of 51% of the capital and giving at least 51% of the employment generated in the enterprise to a woman. They have made their mark in business because of the following reasons: * They want to improve their mettle in innovation and competitive jobs. * They want the change to control the balance between their families and responsibility and their business levels. They want new challenges and opportunities for self fulfilment. Role of women as an Entrepreneur's: 1) Imaginative: It refers to the imaginative approach or original ideas with competitive market. Well-planned approach is needed to examine the existing situation and to identify the entrepreneurial opportunities. It further implies that women entrepreneur's have association with knowledgeable people and contracting the right organization offering support and services. 2) Attribute to work hard: Enterprising women have further ability to work hard. The imaginative ideas have to come to a fair play.Hard work is needed to build up an enterprise.. 3) Persistence:  Women entrepreneurs must have an intention to fulfill their dreams. They have to make a dream transferred into an idea enterprise; Studies show that successful women work hard. 4) Ability and desire to take risk  the desire refers to the willingness to take risk and ability to the proficiency in planning making forecast estimates and calculations. 5) Profit earning capacity:  Ã‚  she should have a capacity to get maximum return out of invested capi tal. A Woman entrepreneur has also to perform all the functions involved in establishing an enterprise.These include idea generation, and screening, determination of objectives, project preparation, product analysis, determination of forms of business organization, completion of formal activities,   raising funds,   procuring men machine materials and operations of business. Fredrick Harbiscon, has enumerated the following five functions   of a women entrepreneur's : * Exploration of the prospects of starting a new business enterprise. * Undertaking a risk and handling of economic uncertainties involved in business. * Introduction of innovations, imitations of innovations. * Co ordination, administration and control. Supervision and leadership. In nutshell, women entrepreneur are those women who think of a business enterprise,   initiate it organize and combine the factors of production, operate the enterprise,   undertake risk   and handle economic uncertainties involve d in running a business enterprise The role of women entrepreneur in economic development is inevitable. Nowadays, women enter not only in selected professions but also in professions like trade, industry and engineering. Women are also willing to take up business and contribute to the nation's growth. This role is also eing recognized and steps are being taken to promote women entrepreneurship The concept of Women Entrepreneurs may be defined as women or group of women who initiate, organize and run a business enterprise. Women owned businesses are highly increasing in the economies of almost all countries. Women's empowerment in India is still an illusion. Empowering women entrepreneurs is essential for achieving the goals of sustainable development. The government of India safeguards the interests of women authorizer to bring the effective implementation and utilization of social economic and political status of women in India.In order to face the problems faced by women entrepre neurs, the Government of India launched the scheme Trade Related Entrepreneurship Assistance and Development of Women (TREAD). The main objective of the scheme is to empower women through development of their entrepreneurial skills by eliminating constraints faced by them in their sphere of trade. This assistance is to be provided for self-employment ventures by women pursuing any kind of non-farm activity. Promoting entrepreneurship among women is certainly a shortcut to rapid economic growth and development.A successful woman entrepreneur has the attitude and the inner drive to change her dream and her vision to reality. A successful woman entrepreneur should be given proper empowerment that will increase her success with the society. SOCIAL SCHEMES:Women entrepreneurs have achieved remarkable success. The Micro, Small ; Medium Enterprises Development Organisation (MSME-DO), the various State Small Industries Development Corporations (SSIDCs), the nationalised banks and even NGOs are conducting various programmes including Entrepreneurship Development Programmes (EDPs).To cater to the needs of potential women entrepreneurs, who may not have adequate educational background and skills, MSME-DO has introduced process/product oriented EDPs in areas like TV repairing, printed circuit boards, leather goods, screen printing etc. A special prize to â€Å"Outstanding Women Entrepreneur† of the year is being given to recognise achievements made by and to provide incentives to women entrepreneurs. The Office of DC (MSME) has also opened a Women Cell to provide coordination and assistance to women entrepreneurs facing specific problems. There are also several other schemes of the government like the * Income Generating Scheme implemented by the Department of Women and Child Development, which provides assistance for setting up training-cum-income generating activities for needy women to make them economically independent. * The Small Industries Development Bank o f India (SIDBI) has been implementing two special schemes for women namely Mahila Udyam Nidhi which is an exclusive scheme for providing equity to women entrepreneurs and the Mahila Vikas Nidhi which offers developmental assistance for pursuit of income generating activities to women.The SIDBI has also taken initiative to set up an informal channel for credit needs on soft terms giving special emphasis to women. Over and above this, SIDBI also provides training for credit utilisation as also credit delivery skills for the executives of voluntary organisations working for women. * Grant for setting up a production unit is also available under Socio-Economic Programme of Central Social Welfare Board. |

Report on Data Management Essay

Introduction HR data would need to be stored by all organisations due to either legal requirements or internal purposes. This report will uncover types of data and methods of storing them. The last segment of the report will cover legislations that affect HR data as ‘there is a substantial and complex amount of EU and UK legislation that has an impact upon the retention of personnel and other related records’(Retention of HR records, 2013) Why Collect HR Data HR data can be collected for various reasons in an organisation. There are two reasons listed below: Productivity: appraisals records are collected so  that managers can assess the productivity of their staff and team. It can also be useful for employees to know their potential within the team and can use it for their career progression. Legal Compliance: Payroll data would be important for the HM Revenue and Customs to calculate taxes whereas health and safety records can help the company to improve their environment and allow them to be compliant with the Health and Safety Act. Also certain data can be used as evidence in any legal proceedings that the company may have to face. Types of HR Data and how it supports HR ‘Monitoring records enables personnel to amend or reformulate policies and procedures.’(Personnel data and record keeping, 2011) Below are 2 types of data that HR collects:  Recruitment and Selection- records on staff turnover and vacancies can be important for HR as it informs them when and for which team to recruit for and also allows them to see the trend in each team depending on its staff turnover. This would also include appraisal records which would inform them if an employee or team needs training. Absence Data-the absence reports, complied from the absence data gives HR an indication of which department is suffering most from high absentees and allows them to rethink the working patterns. It also helps them to calculate the cost of absenteeism to the organisation. Data Storage and its Benefits Data can be stored in several methods. However, below are 2 key methods which can be used along with their benefits. 1. Manual / Paper based- keeping records on paper in a filing cabinet Files cannot be destroyed with any virus Information can be accessed without any password restrictions Members do not need to be PC literate to find data 2. Computerised filing More than one user can access the information at the same time Large volumes of data can be stored and accessed easily  Data can be used to compile reports and identify trends with the latest programmes on computer Most companies prefer their records to be stored electronically as it is efficient and easily accessible. However, there are  certain companies which use both methods as certain records do not need to be stored for a longer period of time, hence can be filed away in cabinets. Essential UK legislations relating to recording, storing and accessing HR data There are several legislations that affect the retention of HR data. Below are two such legislations. Data Protection Act 1998 (DPA) DPA applies to most HR records, whether held in paper or on computer. DPA controls how personal information of living individuals is used by organisations, businesses or the government. It came into force on March 2000. There are 8 data protection principles the data controller needs to comply to in order to handle data correctly: 1. ‘adequate, relevant and not excessive 2. fairly and lawfully processed 3. processed for limited purposes 4. accurate 5. not kept for longer than is necessary 6. processed in line with your rights 7. secure 8. not transferred outside EU without adequate protection’ (Employment Law FAQ, 2013) Every company that processes personal information must be registered with the Information Commissioner’s Office (ICO), unless they are exempt. The ICO, which is UK’s independent supervisory authority, ensures that the DPA as well as other data protection/retention legislations are followed by organisations and it can prosecute them for not doing so. Freedom of Information Act 2000 (FOI) The FOI came into force on January 2005. It gives the public a right of access to all types of recorded information held by public authorities, however there are few exceptions to these right as not all personal records can be obtained by public, such records can be requested under the DPA. Government departments, local authorities, the NHS, state schools and police forces are few of the public authorities. Conclusion This report explains that recording and storing data is very important. Every  company has a different method and reason of storing data; however, handling data correctly is important for all. There are several legislations that can affect the data retention and not complying with these legislations can have an adverse effect on the company’s reputation. Reference List CIPD, 2013.Retention of HR Records.[online] Available at: www.cipd.co.uk/hr-resources/factsheets [Accessed 13 June 2014] ACAS, 2011. Personnel data and record keeping.[online] Available at: www.acas.org.uk [Accessed 12 June 2014] CIPD 2013. DP04: What is data protection and what are the eight data protection principles?.[online] Available at: www.cipd.co.uk [Accessed 17 June 2014] Activity 2 Analysing Absence Data in Examinations Team Introduction The report includes findings and analysis of different reasons of absence within an Examinations Team from May-December in 2013. The final segment of the report concludes the analysis along with recommendations to overcome the core reasons of absence. Absence Level in Examinations Team There are two apparent findings from the graph (data in appendix 1), the high levels of absence from May-June due to stress and from October- December due to viral problems: May-June: due to peak season of exams, the examinations team is required to do ample preparations from planning, supervising and marking exams to attending board meetings. This therefore, becomes very stressful for the team as ‘the most common cause of stress†¦is workload’ (Barometer of HR Trends and Prospects, 2013) and as each person is only trained in their individual role there are issues of ‘presenteeism’. October-December: during this season many people fall sick due to bad weather. However, the outbreak of the Norovirus in 2013 could also be the reason for the viral problems to increase. Also, due to Christmas parties in December it further causes the virus to spread from contaminated food. Conclusion The study indicates that stress and viral issues were two implications the examinations team suffered from in 2013.Stress is a common issue in several workplaces as mentioned in the Absence Management report by CIPD and it can be costly. To overcome the issue, two possible recommendations are: Stress- 1. Hire temporary staff during busy period 2. Train team members to share workload and prevent presenteeism, where employees feel forced to come into work. Viral Problems- 1. Give free flu vaccination to employees 2. Communicate awareness regarding the virus Appendix 1: Number of Employees Absent by Reasons in 2013 (a) Musculoskeletal- back, neck and other muscle pain (b) Ear, Nose, Dental pain and skin disorder Reference List BPP. (2013).Appendix 1 of Number of Employees Absent by Reasons in 2013. London: BPP CIPD, 2013.barometer of HR trends and prospects 2013.[online] Available at: www.cipd.co.uk/hr-resources/survey-reports[Accessed 18June 2014]

Linguistic Features Of E Communication - 3175 Words

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