Industry Analysis on Fast Food Essay

1. A few of the chief economic and business characteristics of the global fast-food industry are as follows: In the market growth rate the expected food sales is predicted to increase by $208 billion by 2020 with us already being at $800 billion by 2001. Under entry barriers for the fast-food industry the main concerns would be the entry costs, location, capital cost, and licensing. For a business to have success they must have the right location. Under exit barriers there are land leasing, building leases, capital cost. 2. Some of the driving forces include the quality of the food, price of the food, and the nutritional value. Some of the consumers that are playing an important role in fast food are women employed outside the home, two-earned households, higher income, and smaller size of the family. Increased food spending driven by population growth is just one way consumers will shape the future of the US food system. 3. Five forces: a. Rivalry among competitors- in the fast-food industry it’s who can get the food out the fastest. b. New entrants- the competition is increasing due to not having many entry barriers. c. Substitute products- there are many choices in the fast food industry leaving consumers with so many different choices. Therefore each individual fast-food restaurants needs to differentiate their product so people will want to come back for their product. For example what is it about Popeye’s chicken vs. KFC’s? d. Suppliers and buyers- in the fast-food industry if the buyers aren’t satisfied with the suppliers than they can easily switch their suppliers leaving the suppliers with a disadvantage. Also if suppliers cannot offer something unique that only restaurants can get form them, then they have no power to keep that restaurant’s business. 4. A few factors that are critical to success in the fast-food industry are timeliness of the food, quality of the food, quantity of the food, and the pricing of the food. 5. It’s attractive in they way that with the fast paced growth of the fast-food industry, there are so many restaurants entering because there are minimal entry barriers. Anyone who wants to open a restaurant can. Also, there are very low switching costs, which make restaurants look very appealing to big corporations. It can be unattractive because more and more consumers are willing to spend more money on better quality food rather than the quantity of food at a fast-food restaurant. Also senior citizens and immigrants are more likely to cook at home and move away from the trend.

Henri Fayol five rules of management Essay

Fayol’s first â€Å"rule† is foresight. Coca-Cola â€Å"complete[d] a plan of action for the future† (37) by planning to find a leader that could help â€Å"Coke recapture its previous growth pace and stock value without Goizueta’s legendary leadership.† (W-7) Fayol’s second rule is organization. Coca-Cola took care of this rule of management by being â€Å"very sensitive to local market conditions.† (W-7) They used bottlers that were local or one’s not entirely owned by the Coca-Cola Company. This allocation of local bottle companies â€Å"provide[d] and mobilize[d] resources to implement [Coca-Cola’s] plan.† (37) The next of Fayol’s rules is command. Coke implemented this rule by selecting Douglas Daft to take over as chairman and CEO in 2000 for Douglas Ivester. After being appointed CEO, Daft constructed a new executive management team consisting of just ten persons. This made management of the company more efficient since there were fewer jobs to worry about and fewer resources needed to do these jobs. The fourth rule of Fayol’s model is coordination. Coke had a major problem after introducing New Coke. They solved this problem by refraining to put out new products until they were certain that it would prosper. They resisted the temptation to follow the latest trend and used the motto â€Å"If it ain’t broke, don’t fix it.† When Coca-Cola finally felt ready to put out a new product they introduced Vanilla Coke and non-carbonated beverages to appeal to a broader range of consumers. Finally, Fayol’s last rule of management was control. To keep the company on track with the plan, Daft appointed twenty-four division and operations presidents to make sure the aims of the company were being upheld and attained. 2. Consider the following quote from Coca-Cola’s statement on diversity: â€Å"We embrace our commitment to diversity in all its forms at The Coca-Cola Company as a core value. Diversity – of race, gender, sexual orientation, ideas, ways of living, cultures and business practices – provides the creativity and innovation essential to our economic well-being. Equally important is a highly motivated, healthy and productive workforce that achieves business success through superior execution and superb customer satisfaction.† This quote can be related to the Coke case by the way that Coca-Cola selects its type of advertisement based on the target location. Another way they embrace their commitment to diversity is by their release of new products such as Vanilla Coke and non-carbonated beverages to meet the diverse needs of consumers. The quote can be related to the behavioral approaches to management by Daft’s decision to make the company a more entrepreneurial organization and slimming down on the number of executive managers. 3. How does Coca-Cola score on the eight attributes of performance excellence? On the eight attribute of performance excellence, Coca-Cola scores very well. The eight attributes can clearly be seen in the company: Bias toward action by making a decision to appoint Daft as the new CEO because they feel he will get things done better than Ivester. Closeness to the customers by using local companies to bottle and distribute Coke products so that the community is getting back from the products they purchase. Autonomy and entrepreneurship by coming out with new products like Vanilla Coke, Diet Vanilla Coke, Diet Coke with lemon, and non-carbonated beverages. Productivity through people by giving responsibility for implementing the company’s six strategic priorities to Coca-Cola employees. Hands-on and value-driven by seeking to reach the status the company had  under Roberto Goizueta. Sticking to the knitting by not producing new products after the failure of New Coke and sticking with the original product that got them their success until they were truly ready to release new products. Simple form and lean staff by Daft cutting his executive management team to just ten people.   Simultaneous loose-tight properties by broadening their beverages and creative service while maintaining the same image and standards the company conveys. 4. Do you think Douglas Daft will be successful in regaining the growth and value experienced under Roberto Goizueta? I do not think Douglas Daft will be successful in regaining the growth and value experienced under Roberto Goizueta because there is so much more competition today among carbonated beverages and Pepsi is coming up in status. Another factor is the fact that people are becoming healthier and drinking less carbonated drinks and switching to a healthier choice in water and sports drinks like Gatorade.

Essay on The Neurobiology of Memory and Aging - 1680 Words

The Neurobiology of Memory and Aging I lost my keys again, my mother exclaimed at dinner a few nights ago, I really am getting old. This use of old age as a justification for memory deficits is extremely common. Many people relate old age with loss of memory and other neurobiological functions. Why is it that aging seems to go hand in hand with losing and forgetting things? Is there a neurobiological explanation for this phenomenon? It is clear to neurobiologists that aging results in a decrease in brain size as well as a decrease in the efficiency of brain functions. It has been a widely held belief that aging causes neurons to die and for the overall number of neurons to decrease as one reaches old age. Studies†¦show more content†¦(1). Therefore, once one sees something else or takes part in a new conversation is it difficult to remember all of the details from the one before. Declarative memory includes remembering facts one has used effort to learn in the past, and things one has tried to remember. The last part of memory, procedural memory, consists of everything one has learned by repetition, such as playing an instrument or sport, driving a car, or walking. The brain is dividing into several sections, including the cerebellum, the frontal lobe, and the temporal lobe, among others. The temporal lobe exists in two parts, one on each side of the brain close to the ears. It is largely responsible for the memory system (2). On the medial surface of the temporal lobe there are three important structure that are essential for human functioning. These structures are named, in order from rostral to caudal, the olfactory cortex, the amygdala, and the hippocampus. Together these three structures are referred to as the limbic system (1). Their functions became understood after studying how the brain functions upon loss of each structure. For example, in 1953, a patient suffering from epilepsy underwent surgery which removed most of his medial temporal lobe (1). After the surgery, the patient was able to remember who he was and was able to carry out coherent, intelligent conversations. However, if the person with whom he was talking left the ro om, he would have noShow MoreRelatedPromising Treatment for Alzheimers Disease Essay566 Words   |  3 Pageslinked to chromatin inactivation(14, 16). This relaxes the chromatin structure and allows transcription factors to interact with their target DNA.(10) Histone acetylation is an important mechanism for memory formation.(17, 18) Recent studies suggest that specific HATs and HDACs are required for memory formation and learning ability in severe neurodegeneration(13). Postmortem studies of AD patients have shown increased HDAC within the hippocampus(19) and lower acetylation over temporal lobe (20). 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Further areas of study could focus on how alcohol affects the hippocampus’s ability to form new memories or its effects on neuroplasticityRead More Memory, Aging, and the I-function Essay2013 Words   |  9 PagesMemory, Aging, and the I-function Folk wisdom has long noted that as individuals age, they experience decline in memory performance such that many accept cognitive decline and even senility as normal affects of aging, along with graying hair and wrinkled skin. The effects of time on the brain in humans is more complex than simple gradual decay until one shuffles off the mortal coil, as it were. The implications of memory loss, and cases in which cognitive function does not decline, has implicationsRead MoreQuestions and Answers on Physiological and Psychological Needs995 Words   |  4 Pagesenduring effects  on ones physiology, psychology and behavioral pattern. Recent studies reveal that humans with a history  of  exposure to extreme trauma and who develop post-traumatic  stress  disorder (PTSD), with its associated nightmares, intrusive memories, avoidance  of  reminders  of  the trauma, sleep disturbance, hypervigilance, and other symptoms, have changes in actual brain structure and function (B remner, 2005). Research shows the brain areas gradually chandge due to stress including the hippocampus

Same Sex Marriage Should Be Legal Essay - 2606 Words

Same Sex Marriage The possibilities of finding your soulmate is already slim, the possibilities of he/she being your marriage partner is slimmer, why make it any harder, by not letting the couple enjoy the experience of planning and getting married, just because they are of the same gender. This bibliography will have a compare and contrast between same sex marriages. As well different opinions that are found online of said subject. For example, why we should or shouldn’t have same sex marriages, compare and contrast, I as well will be supporting my opinion in the matter, those would be in a married family, community/society, the church and the state, and finally my conclusion on the matter. Compare and Contrast: on same sex marriages in a married life with children. If you are planning or getting married, then maybe you are also debating on having children or not, like any other family. But same sex couples can’t reproduce children if they are of the same gender, at least not of the same parent, unless they have donor or so, especially in the family, but the bad news it’s expensive, but good news more money into hospitals, as well that some people are against it, â€Å"If the â€Å"spouses† want a child, they must circumvent nature by costly and artificial means or employ surrogates. The natural tendency of such a union is not to create families. Therefore, we cannot call a same-sex union marriage and give it the benefits of true marriage. ii† ii. The homosexual couple can also adoptShow MoreRelatedSame Sex Marriage Should Be Legal1288 Words   |  6 Pages Marriage is not precisely the same as it used to be interpreted. For example, women u sed to be their husband’s property. Sometimes the women were forced to marry whoever their parents wanted them to marry and most of the time they couldn’t leave the marriage. Nowadays women have more freedom. They can vote, they can run their own business, and they can marry whichever man they want to. The laws change as the people’s mind change. As they get more comfortable with the idea, they become more openRead MoreSame Sex Marriage Should Be Legal Essay1475 Words   |  6 PagesSame sex relationships relate to when a man or woman are attracted to someone of the same gender of themselves. It is being rejected as same gender marriage denies the obvious purpose between a man and a women which is procreation (Richardson-Self, 2012). Denying same sex couples the legal right to get married, could mean that they are being denied their basic human rights to enjoy human benefits (Richardson-Self, 2012). However, the opposing view is that if gay marriage was grante d the legal rightsRead MoreSame Sex Marriage Should Be Legal1403 Words   |  6 PagesSame-Sex Marriage â€Å"I now pronounce you†¦Ã¢â‚¬  At some point in a person’s life, they have heard or will hear those words. 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A Fools Handbook to Samples of an Evaluation Essay

A Fool's Handbook to Samples of an Evaluation Essay What Samples of an Evaluation Essay Is - and What it Is Not It is going to also, obviously, be a lot easier to compose your essay all around. Your outline should offer you a simple idea of how your essay is going to be formed. Write an outline to assist you organize your essay. Every essay needs to have a well-stated thesis that tells the reader what to anticipate from the remaining part of the paper together with solid studying to support the thesis. Otherwise, your portfolio essay might be a bit unorganized. Your thesis will guide the remainder of your essay, and ought to be narrowly focused to the internship you desire. Most motif papers are short, and the fundamental five-paragraph essay will provide you lots of room to prove your thesis. The Good, the Bad and Samples of an Evaluation Essay Instead it's best to present the info in the order that produces the most sense. Among the precise strategies to summarize is to concentrate on the key ideas that Tannen uses to distinguish between women and men. The outcome evaluation has the ability to assess the changing attitudes and understanding of the target audience. Isolate key factors of the problem you're addressing to discover the explanations for writing and the aim of the main notion of your essay. What Is So Fascinating About Samples of an Evaluation Essay? Keeping a consistent voice within the body paragraphs, in addition to the remainder of the essay, is also an add itional ability that sixth-grade teachers will be on the lookout for when grading. What will have to be included in your essay will differ based on your level. For example, let's say you've written a proposal to study the potency of a new sort of solar panel that may be utilized in colder, cloudier climates. Tell the reader the context and setting of the quotation and the way it is an illustration of the point you're making. What's Actually Going on with Samples of an Evaluation Essay For instance, the positive characteristics of the book might be that the plot was engaging and that the story wasn't overly descriptive. An excellent song is similar to poetry put to music, making it more challenging to analyze than some individuals might think. Critically engage the movie so you can effectively create a strong essay. For instance, the major character of the book might have a bold personality, whereas the pal of the principal character might be shy and timid. Samples of an Eva luation Essay: the Ultimate Convenience! You might choose to compose a book analysis as a way to think critically about the bit of literature and determine your literary preferences. Thus, you build an argumentative approach to the viewpoint of the author. Your outline will be able to help you avoid adding unnecessary info and makes it much easier to craft a paper with a strong, logical structure. Show the readers you have the capability of understanding more than 1 perspective. Finding the Best Samples of an Evaluation Essay Despite the fact that you might have an overall assignment, you're often able to select the direction you desire the essay to take. You have to make an abstract, a concise review of the key points of your essay. Have somebody else read your essay and supply constructive criticism before writing a last draft. Reading the essay backwards is a great means to catch such mistakes. After the opener, provide background information on the subject, which ought to tell readers the intention behind the essay. You can't write a prosperous informative piece without a comprehensive command of all appropriate details on the subject. Once you get your subject, you want to place your ideas in the appropriate format. Other times, you're able to pick from a couple of different topics. Whatever They Told You About Samples of an Evaluation Essay Is Dead Wrong...And Here's Why Evaluation is the procedure of deciding the worth of a program. Impact evaluations have a tendency to be more expensive because of the time frames involved, as stated by the Minnesota Department of Health. Formative evaluations are evaluations that exist during the practice. Because you now are aware of what the main part of the essay says, writing an introduction ought to be easy. For example, the writer indicates the reader in assorted parts of the article by suggesting examples in specific paragraph numbers. Whoever is reading your essay will probably be reading ma ny of them, so you must establish yourself as a distinctive individual by revealing a detail that's relevant but interesting and distinctive. The Death of Samples of an Evaluation Essay An exploratory essay doesn't call for you to argue for which method is best, but instead to explore the way the methods might or might not do the job. Be certain you are using the exact same font and font size as you used to compose the essay. Standard composition is critical to a comprehensive education. The five-paragraph format is normally used in sixth grade.

Catholic Social Thought and Function Samples †MyAssignmenthelp.com

Question: Discuss about the Catholic Social Thought and Function. Answer: Catholic social thought is based on the belief that the almighty has a plan for a proper creation along with a plan for developing a kingdom which would be based on love, peace and justice. The God has also decided a special story for all of us in his planning and in order to fulfill our part, it is not sufficient to be only spiritual and keep ourselves happy (Guitan, 2015). It is also important to involve every aspect of life starting from the how we perceive ourselves individually, working towards good to that of the responsibility of being a global citizen. It involves nine main principles which help us develop ourselves as good followers of god and maintain ideals which bring out the compassionate and empathic sides for us making the world a better place for all privileged as well as unprivileged people of the world. The first principle is called the Dignity of the human person. The main foundation of the Catholic Church is that human life is sacred and therefore the dignity of the human should be made starting point for a moral vision for the society. This principle mainly states that every person on this earth is prepared on the earth with the image of God which in simple term can be described that every individual is the clearest reflection of the God. Therefore each and every person should reflect self as the follower of such principles and take care that he maintains the dignity of the opposite person at the same time maintaining his own dignity as well (Stollenwork, 2016). Often it may lead to conflict but as human are intelligent creations, proper strategies need to be adopted to save the respect for both. When all the individuals start thinking responsibly in the same fashion, a community will grow up where love and respect for each other would be the main foundation. The second principle is called the common good and community. Each and every human being is sacred as well as social where realizing the dignity as well as relationship with the others in the society is very important for peaceful establishment of a social life. Organizing the society in different aspects like economics, law, policy and politics by placing proper importance on maintaining dignity will help to develop the capacity of individuals to grow in a community. When each and every individuals becomes self determined to love their neighbors unconditionally, they would be able to move forward towards a broad community commitment where good performed by the self with lead to an enrich community (Massaro, 2015). The third principle would is called the preferential option for the poor as well as the vulnerable. It is true that deprivation and powerlessness of the poor becomes one of the major reasons that wound as the community and therefore the poor has the most urgent moral claim on the conscience developed by the nation and its people. Option for the poor is extremely important aspect of the societys effort to achieve common good (Curley, 2017). A proper healthy community can be only achieved when each and every individual develop a self determination to provide special attention to those who are in special needs, to those who are on the margins of the society and are poor. The fourth principle is called the rights and responsibilities. A healthy community can only be achieved when human rights are protected long with the provision of chances where the members would also meet their responsibilities. Each and every individual in the community on the self has the right to enjoy life with the right to gain all those things important for leading a quality life like food, shelter, cloth and employment. Therefore each and every individual on the own self should take the responsibility of practicing such rights for themselves and also provide chances to the underprivileged so that they also get the scope of enjoying their rights (Thompson, 2015). In this way, every individual can contribute to development of a community where human dignity is protected and proper voice for rights and responsibilities are also welcome. The fifth principle is the role of the government and the subsidiarity. By this principle, it is stated that every state has the responsibility towards it s people that they should help them in promoting human dignity, providing strategies which would build common good and at the same time should also protect the human rights. Every individual has the right to participate in any political institutions so those governments can achieve goals. Subsidiary states that functions of the government should occur at the lowest level and until the concerned needs are not met in the level, and then only the government should intervene in the higher levels (Wright, 2017). Therefore every responsible individual should come forwards and develop self determination to provide the best survive to the government so that the government can work as a team and provide the best option or the citizens as a whole community. The sixth principle is called the economic justice. It must be taken care that every people should serve to develop economy but not the other way round. Each and every individual as a self has got the right to perform productive work, to gain fair wages as well as right to enjoy safe working conditions. This principle also states that although people should have the right to possess private properly and develop economic initiative but there should be a limit (Clark et al., 2014). This is mainly done so that people do not exploit their property when others are not being able to enjoy the basic necessities of life. It is often the task of the state and also of every individual of a community to be responsible in their decisions on economy and at the same time extend their effort to help the state and the community to enjoy a maintained and balanced economic stability. This would help in development of a community where peace and happiness would prevail. The seventh principle is called the Stewardship of Gods creation. In this principle, it is sated that the different gifts provided by the almighty to us in the forms of good on the earth which is mainly consumed by different stakeholders as resources. It is extremely important for every individual to be morally correct in their approach to this utilization of resources and take them as social mortgage where each if the individual will act as responsible stewards and trustees (Sternberg Frensch, 2014). This principle mainly states that every individual human being must be self determined to be responsible users of the resources provided. When they develop this knowledge to self, they can assure development of a community where both the underprivileged people also get their right of the resources and thereby maintain a stable balance in resource consumption and hence a better living place for all. The eighth principle is called the promotion of peace and disarmament. Peace is an extremely important concept which when established successfully results in an overall growth of the nation with citizens who are happy, healthy, mentally fit and enjoy quality life with proper financial stability. Peace just does not mean absence of war but involves mutual respect and confidence among people and nations thorough collaborations and binding agreements. Hence, it becomes important for every individual of a nation to be self determined to conduct activities which would either promote piece or would refrain from any fierce or harmful activities for the betterment of personal lives and also for the promotion of peace in community as well (Matheny, 2016). The principle nine is called participation. This principle states that every individual irrespective of caste, creed, religion and socioeconomic class could actively participate in societal activities as they should practice the fundamental demand of justice and human dignity. It is also the duty as a citizen that every human should themselves participate in the societal activities and also provide scope to underprivileged so that they can also enjoy societal participation. In this way by considering self and community betterment, individuals should promote participate in every fields of society. The last principle is called the global solidarity as well as development. this principles states that every human being should try to make themselves a part of the creation of God on a global outlook rather than of a particular state or a community. By these, it means that every individual should develop a self belief that their responsibilities towards human kind should surpass racial, national, economical and ideological differences and provide justice and support globally. This would help developing world where all human would be brothers and sister and live for each other. Therefore overcoming elf obsessions and self biasness and doing good fir the community will prepare a world worthy of living (Hrynkow Creamer, 2015). In this way, by developing self determination and being more thorough about our own activities, one can develop a community which encourages better quality living for all. References: Clark, M. J. (2014).The Vision of Catholic Social Thought: The Virtue of Solidarity and the Praxis of Human Rights. Fortress Press. Curley, J. P. (2017). Is There a Right to Unilateral Humanitarian Intervention and, If Not, Do Catholic Social Principles Demand One?.Journal of Catholic Legal Studies,47(2), 12. Guitin, G. (2015). Service as a bridge between ethical principles and business practice: A Catholic Social Teaching perspective.Journal of Business Ethics,128(1), 59-72. Hrynkow, C., Creamer, D. (2015). Catholic social thought bearing fruit: the case of Sister Cyril Mooney and Loreto Day School Sealdah, Kolkata, India.International Studies in Catholic Education,7(2), 222-237. Massaro, T. (2015).Living justice: Catholic social teaching in action. Rowman Littlefield. Matheny, K. (2016). Catholic Social Thought, Social Security Disability, and Inclusion of the Disabled in the American Economy.Rutgers JL Religion,18, 33. Sternberg, R. J., Frensch, P. A. (2014).Complex problem solving: Principles and mechanisms. Psychology Press. Stollenwerk, D. J. (2016). On Faith and Reason: Synthesis as a Principle of Catholic Social Teaching in Laudato Si'.The Australasian Catholic Record,93(4), 419. Thompson, J. M. (2015).Introducing catholic social thought. Orbis Books. Wright, K. S. (2017). The principles of Catholic social teaching: A guide for decision making from daily clinical encounters to national policy-making.The Linacre Quarterly,84(1), 10-22.

Price of Football Players

Table of Contents Introduction Supply Demand Theory Skill Sets Bargaining Power Sponsorship Other Factors References Introduction Why do football players cost so much? Why do players transferred from one club to another get so very high price of  £82,500,000 while another players a sum of  £21,000,000? What determines these prices and are they determined? All these questions poses a potent reason for a demand supply analysis of football players.Advertising We will write a custom essay sample on Price of Football Players specifically for you for only $16.05 $11/page Learn More This paper analyses the reason why players are given higher transfer rates and the economic theory that lies behind this transfer. The players that we choose for this analysis are Nacho Monreal from Arsenal and Jack Butland from Stoke City. Supply Demand Theory While discussing the price that footballers receive from the clubs are astronomically high. Some players receive ve ry high transfer prices while others do not receive such high wages. The transfer costs are actually, in economic sense, the price, or the wages that is determined through the interaction of supply and demand. The footballers who have a very high degree of skill and have a proven past record are priced very high. The supply curve of a commodity as we know in economics is a positively sloping line, whereas in case of football players is a vertical line indicating a fixed supply. This is because, the service that the footballers have to offer is their skill sets as a player which cannot rise or fall with the price. It remains same at any price, showing a highly inelastic supply curve. However, the demand curve of the footballers is highly elastic that varies with the prices. When there is an interaction between the supply and the demand curves, and the price at which they interact, becomes the equilibrium price at which the player is transferred. This price is the transfer cost that c lubs pay. Figure 1: Demand and supply curve of a footballer Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More In figure 1 the supply curve is shown as a perfectly inelastic curve and the downward sloping demand curve shows that with an increase in the price of the player shows that the demand for the player would reduce. Skill Sets In case of Nacho Monreal from Arsenal and Jack Butland a comparison has to be made in terms of their skills. A comparison of their past performances shows that Nacho was a defender who had 2 goals to his credit, he had assisted in making 8 goals, in 35 matches he had played. On the other hand, Jack a goalkeeper, had conceded 69 goals and missed 13 goals in the 49 matches he had played. This shows that if a performance ratio is considered, Nacho’s performance was far better than that of Jack. Hence, it may be concluded that the higher price that was offered to nacho was due to the better performance he had shown in the previous matches he had played. The theory of marginal revenue product of the players demonstrates that the price of a product or marginal revenue of a product depends on the price of the last good that was sold and on the productivity of the good. In case of a football player, the marginal revenue i.e. the price the clubs are willing to pay for a player. This price also includes the ability of the player to draw sponsors and advertisements money. In a way, this is directly dependent on the media popularity fo the football player. Earlier, the amount of the transfer price has not been very high, which has increased exorbitantly in the recent years. Many believe that the high price paid to the footballers is due to the higher media popularity paid to the player. Many television channels and media houses willingly pay premium sponsorship prices to get a particular player to endorse their program or product. This again incr eases the market value of the player. For instance, Manchester United may just have to pay a meagre sum to its employees as they hire only few people but they earn revenue of  £1 million per game, which is much higher than what they pay . Bargaining Power From the point of view of the bargaining theory, a player who has a unique and commendable skill sets and is popular with the media would be in a better position to bargain with the clubs while a transfer cost is being determined . The reason being, even the player is aware of the amount of revenue he can fetch for the club through good performance on the field as well as through sponsorships.Advertising We will write a custom essay sample on Price of Football Players specifically for you for only $16.05 $11/page Learn More Further, the marginal productivity of a player is not assessable. But a good player can help his team to perform better and therefore, the skills he has a footballer would help th e team to gain a higher position in the league matches which would increase the popularity of the club. For instance, Messi is a great asset for Barcelona, as he almost singlehandedly helps the club win, as well as become the champion. A player of his calibre would definitely fetch a higher price for he has a higher level of skill sets and performance to offer . Therefore, a player who has the potential to make the club win or reach the finals or semi-finals of the premiere leagues would definitely have a higher bargaining power as well as price. Sponsorship Another aspect that has a strong influence on the price of the football players is the sponsorship that he can draw. For instance, David Beckham, Messi, or Christiano Ronaldo is the poster boys of all big companies who are the primary sponsors of football. As these players are immensely popular with the football watching and non-watching audience, they have a higher endorsement price that eventually goes to the club. Therefore, if a player is media friendly and is priced high by the media, he would eventually cost high to the clubs too. Other Factors Another factor that may have an influence on the transfer cost of the players is their degree of competitiveness. The clubs in the English Premier League are highly competitive and they vigorously compete against each other for a good player. Therefore, when the demand for the good is very competitive, this would increase the price of the product, supply being constant. High bidding on a player from the top clubs also results in higher costs of players. Furthermore, there are rich clubs who are willing to pay a very high price for the right player and this knowledge in the market increases the expectation as well as the price of the footballers. Price of a player is dependent on various factors. However, the whole mechanism of the bidding prices and the price is determined through the process of demand and supply interaction as explained through economic theor ies.Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More References Andrear, L 2007, Are football players paid too much?, http://www.helium.com/items/217870-Football-News-Opinion. Bowman, B 2011, Is international football migration simply another type of labour migration?, http://www.academia.edu/2535233/Is_international_football_migration_simply_another_type_of_labour_migration. DevecioÄŸlu, S 2011, The Valuation of Human Capital in the Football Player Transfer Market, http://www.academia.edu/836938/The_Valuation_of_Human_Capital_in_the_Football_Player_Transfer_Market. Dobson, S Goddard, J 2011, The Economics of Football, Cambridge University Press., Cambridge, UK. Economics 2007, Economics of Football – Players Wages, http://econ.economicshelp.org/2007/09/economics-of-football-players-wages.html. Economics 2013, Economics of Football, http://econ.economicshelp.org/2007/09/economics-of-football.html. Kà ©senne, S 2007, The Economic Theory of Professional Team Sports, Edward Elgar Publishing, London. L’histoire de sa vie 2008, You lack a rudimentary understanding of market economics, http://www.nathan-miller.com/you-lack-a-rudimentary-understanding-of-market-economics/. Quinn, KG 2009, The Economics of the National Football League: The State of the Art, Springer, London. Transfermarkt 2013, Premier League – England, http://www.transfermarkt.co.uk/en/premier-eague/letztetransfers/wettbewerb_GB1.html. This essay on Price of Football Players was written and submitted by user Allan Powers to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.