Problem (Firm regulation)
Answer 1
| L | M | H | |
| L | (2,2) | (1, 3) | (0,4) |
| M | (3,1) | (1,1) | (1,3) |
| H | (4,0) | (3,1) | (-1, -1) |
Source: (as created by the author)
The table 1 represents the pay-off matrix of the two social network platforms, FB and SC. The first position in each pair in each cell indicates the pay-off to firm FB, whereas, the second position denotes the pay-off to firm SC. Here, both FB and SC are playing the simultaneous game. It implies that both players are moving at the same time. Suppose FB is following the L strategy, SC will choose the H strategy (since 4 >2). Similarly, SC will prefer to play following the H strategy again if FB plays the M strategy (since 3> 1). However, the decision will not remain same while FB follows the H strategy. Altogether, column L will be deleted following the iterated elimination of dominated strategies. On the other hand, FB would like to follow the H strategy when SC follows the L and M strategies. Conversely, H will not remain the dominating strategy when SC prefers to choose H strategy. Yet, H will be considered as the dominating strategy as players would prefer to play following the H strategy for two times. In this case, the row L will be nullified owing to the iterated dominated strategy.
Table 2: Iterated pay-off matrix
| M | H | |
| M | (1,1) | (1,3) |
| H | (3,1) | (-1, -1) |
Source: (as created by the author)
Table 2 represents the pay-off values after the application of iterated elimination rule. In this step, the paper will try to derive optimum dominating strategy for the players. Here, SC would prefer to choose H while FB follows M strategy. On the contrary, SC would prefer to M when FB likes H strategy. This implies that there is no dominant strategy for both SC and FB. Here, the middle probabilistic strategy can be applied as to determine the dominant strategy. Suppose probability of 0.5 has been added to both the M and H strategy. Therefore, the new pay-off matrix will be (2,1) and (0,1) which cannot be considered as the dominant strategy.
Answer to question 2
Nash equilibrium denotes the optimum outcome when no one wants deviate from that situation. In this case, (1, 3) and (3,1) are the multiple Nash equilibrium for FB and SC. It has been observed that FB would like to choose H when SC plays either M or H. On the contrary, SC would like to choose M when FB plays either M or H.
Answer to question 3.a
Figure 1: extensive form of game theory
Source: (as created by the author)
After the introduction of subsidy or incentives, FB should be provided with subsidy. On the contrary, SC should be levied with tax to meet the optimum outcome. Therefore, (1,1) can be derived as the optimum outcome under the extensive form of game theory.
Answer to question 3b
If FB moves first, it will move either UP or down. On the other hand, SC as a player 2 will move either left or right.
Figure 2: Backward induction game
Source: (as created by the author)
In backward induction form, the game starts from backward point and will move until reaches the ultimate solution. As B takes the first move, it will have two options (1,1) and (1,3). Afterwards, SC will choose from the rest of the options. Here, (3,1) will be optimum outcome.
Mixed strategies
Answer to question 1
Pure strategy equilibrium refers to one specific strategy that a player will prefer to choose. Player 1 will choose the strategy U rather than D (as 4 >-2) while player 2 follows the L strategy. On the other hand, Player 1 will prefer the strategy D rather than U (since 1> -3) given the player 2’s strategy of R. Therefore, there is no dominant strategy for player 1. On the contrary, player 2 will prefer to choose R (since 3> -4) when player 1 plays strategy U. However, the preference will be altered when player 1 chooses strategy D. Then, player 2 would love to follow strategy L (as 2>1). Altogether, it can be said that there is no equilibrium in pure strategy.
Answer to question 2
| L | R | |
| L | (4,-4) | (-3,3) |
| R | (-2,2) | (1, 1) |
Player 1’s Mixed Strategy
P (-4) + (1 –P) 2 = P (3) + (1 –P) 1
Or, 2 – 6P = 2P +1
Hence, P = 1/8
Player 2’s mixed strategy
q (4) + (1 –q) (-3) = q(-2) + (1 –q) 1
or, 7q -3 = -3q +1
Hence, q = 2/5
Therefore, the equilibrium mixed strategy (1/8, 2/5).
Bibliography
Heifetz, Aviad, and Andrés Perea. “On the outcome equivalence of backward induction and extensive form rationalizability.” International Journal of Game Theory 44, no. 1 (2015): 37-59.
Prokopovych, Pavlo, and Nicholas C. Yannelis. “On the existence of mixed strategy Nash equilibria.” Journal of mathematical economics 52 (2014): 87-97.
Economics
Economics – Game Theory
Economics – Game Theory
Traction Splint
Introduction
Traction splints are mostly used for the immobilization of the fractures of the lower limb. There are several research-based pieces of evidences held on the efficacy of utilization of traction splints. Therefore, there should be continuous re-evaluation on indication and contraindication concerning the appropriateness of continuation traction splint.
Traction splint is, in most cases, used in the stabilization of the mid shaft femur structure. With the appropriate application of traction, the broken ends of the bone have limited movements, and this will aid in decreasing patient’s pain (Nackenson, Baez, & Meizoso, 2017). Traction splint can be used for all mid shaft femur fractures. The latter can be established to this patient to make sure that the he has the comfort that he requires. It is also essential for the patient patients because the fracture splint ensures that there are better fracture alignment and even an improvement in the rate of blood flow. Traction splint can be utilized for both closed and open fractures for the femoral diaphysis. It is designed to offer an impermanent steadiness at the scene for transportation to the particular healthcare institution. However, prolonged utilization of traction splint can lead to pressure sores.
There are several types of splints used in tractions, including Thomas, Hare, CT-6, and Slishman traction splints, among others. The most common splints are Hare and Sager. Glen Hare developed the Hare traction splint. The Hare splint modified the full ring Thomas splint into half-ring splint through the incorporation of a ratchet mechanism with additional length adjustment mechanisms and also with the improvement of the ischial pad (Liodaki, Xing, & Mailaender, 2015). On the other, the sager traction splint is unipolar traction. A unit steer rod sits amid the patient’s legs and traction from the ankle.it is more effective for proximal femur fracture than hare splint.
Indication and Contraindications for the Utilization of Traction Splints
Indications
Any suspected fracture that isolated from the midshaft femur is a clear indication of the presence of traction splint. In the cases where there are other fractures in the pelvis, the knees, or foot, then the effectiveness of traction is not mild (Gangavalli & Nwachuku, 2016). There might not be effective traction in the areas as mentioned earlier because traction splints technically need undamaged bone support on a band sites to be able to apply any traction.
Contraindications
The contraindications for the utilization of contraindication splint include;
When the injury is close to the knee
When there is an injury to the knee (Unnikrishnan & Bhalaik, 2014)
When there is an injury on the hip
When there is an injury to the pelvis
In case of a partial confiscation or avulsion with the split-up of the bone
When there is a lower leg injury or injury to the ankle
When one has partial amputation or avulsion with the separation of bone while the marginal tissue only connects the distal limb (Runcie & Greene, 2015)
When one has a supracondylar fracture of the distal femur
It is advisable always to take the appropriate body substance isolation precautions in case one has a femur fracture.
Benefits of Using Traction Splint
Traction splints are mostly utilized for the fractures of the superior leg bone. They lead to a reduction of pain and reduce the expanse of bleeding, which happens in the soft muscle of the leg. Traction splints are only applied in cases where there are no fractures in the pelvis or the knee, and when the fracture has not wrecked via the skin with the bone being observable.
With the existence of other fractures in the leg, the utilization of traction splint will make the fracture site weaker and make it pull apart instead of healing the besieged femur fracture.
The risk associated with a traction splint (Khoriati, Jones, Gelfer, & Trompeter, 2016)
There are several risks involved in traction splints, including; injury to the nerves and vascular injury from excessive weight
The surrounding tissues may also be damaged
Excessive bleeding
Conclusion
As discussed above, the utilization of traction splints is vital since it assists in the immobilization of the midshaft femur structure. It helps in decreasing pain in the broken bones. Traction splint will also ensure that there is proper fracture alignment and maintain the average rate of blood flow. The splint has several risks, including injury to the nerves and excessive bleeding, among other risks. It is advisable to take evaluation issues with seriousness so as to achieve stabilization.
References
Gangavalli, A. K., & Nwachuku, C. O. (2016). Management of distal femur fractures in adults: an overview of options. Orthopedic Clinics, 47(1), 85-96.
Khoriati, A. A., Jones, C., Gelfer, Y., & Trompeter, T. (2016). The management of paediatric diaphyseal femoral fractures: a modern approach. Strategies in Trauma and Limb Reconstruction, 11(2), 87-97.
Liodaki, E., Xing, S. G., & Mailaender, P. (2015). Management of difficult intra-articular fractures or fracture dislocations of the proximal interphalangeal joint. Journal of Hand Surgery, 40(1), 16-23.
Nackenson, J., Baez, A. A., & Meizoso, J. P. (2017). A descriptive analysis of traction splint utilization and IV analgesia by emergency medical services. Prehospital and disaster medicine, 32(6), 631-635.
Runcie, H., & Greene, M. (2015). Femoral traction splints in mountain rescue prehospital care: to use or not to use? That is the question. Wilderness & environmental medicine, 26(3), 305-311.
Unnikrishnan, P. N., & Bhalaik, V. (2014). Management of acute fractures of the hand. Orthopaedics and Trauma, 28(4), 205-213.
Introduction to marketing
Objectives
Brand awareness
First objective for stressed reduce wearable device is brand awareness through launch event. Brand awareness is one of the key objectives of marketing activities as it is important for company to reflect good customer perception towards the product. Thus it is important for the consumers to get to know about the brand and product through these marketing activities. The target is to conduct marketing activities prior to launch date and through the launch event which will occur within three months (Mohd and Sasmita 2015).
Acquire new customers
Customer at the base of the company considered for growth and for whom the marketing activities is being conducted. Therefore the second objective is to acquire new customers for stress reduce wearable device. The target is to acquire more than 10,000 new customers within next five months through this marketing plan (Mohd and Sasmita 2015).
Sales and revenue
The key focus for any company while introducing new product, is to increase the sales of the company with the eventual objective of profit earning. Therefore the objective is to increase sales and revenue by 20%. Moreover increase in profit by 10% within next one year.
Market share and Market entry
Another objective through this marketing plan is increase in number of stores and to enter new market areas, through increased location to target by the company. The target is to enter additional two locations within next one year of the launch. This will also include to increase market share by 5% in next one year.
Employees acquirement
Another objective is to increase number of employees for the organisation, as employees are majorly responsible for the performance of the organisation. Therefore the company‘s target is to recruit skilled and competent employees by 15 %, and reduce the employees turnover rate to less than 5%, achievable by next six months (Chari and Feng 2018).
References
Chari, S, and H Feng. “Research in marketing strategy.” Journal of the Academy of Marketing Science, 2018: 1-26.
Mohd, N, and J Sasmita. “Young consumers’ insights on brand equity: Effects of brand association, brand loyalty, brand awareness, and brand image.” International Journal of Retail & Distribution Management 43, no. 3 (2015): 276-292.
Using Social Media in the workplace to communicate
Introduction
Today, employers use social media sites like YouTube, Twitter, Whatsapp Facebook, LinkedIn, Google +and Pinterest to communicate to their employees. This follows an exploding growth of social media, and diminishing reliance on verbal communication and decreasing human contact in the workplace. However, mainly employees would prefer using Twitter and Facebook to pass on certain information to their employees. Even though some employers find the use of social media disruptive and subject to abuse, they still have to use it. Social media is the in thing that a modern organization like Bunzl Plc cannot eliminate from its communication. In essence, this report seeks to explore use of social media at Bunzl Australasia ltd. The company deals in a variety of goods such as catering equipment, food packaging, food service, disposable tableware among other products. This organization is an affiliate of Bunzl Plc, a British company that mainly offers outsourcing services. In trying to understand use of social media at Bunzl Australasia ltd, the communication strategy I have chosen is communicating for a response. In addition, this assignment seeks to address two groups. The first audience being targeted in this report is employers. Social media can only be used once an employer authorizes it, and therefore this report addresses employers on how they can leverage this communication platform. The second audience involves students who will use social media in the work environment to respond to employers’ enquiries or statement.
Discussion
To explore use of social media at Bunzl Australasia the following headlines will be explored.
Impact of social media on organization communication
In this case, the focus would be to give an insight into how Social media has revolutionized organizational communication in a magical way. Indubitably, today, employers are exploiting social media platforms to communicate with their employees rather than engage them one on one. It is without a doubt that the exploding growth of this digital technology is being embraced by a majority of organizations ostensibly to improve their communication with employees.
Advantages of social media in the workplace
In this section, the focus would be to understand some of possible advantages contributing to the use of this technology. Employers are adopting social media use in the workplace because of its advantages. Some of the most notable advantages of using social media include: very fast and reliable, more informal, allows employees to ask questions and find solutions, It builds relationships since it allows employees to network, it is easy to use and cost-effective to a majority of employers, appealing to tech-savvy employees and bolsters transparency.
Disadvantages of use of social media in the workplace
Use of social media has its own downsides that sometimes scare some employers from using it. In the event an organization uses a social site like Facebook to communicate with its employees, it is most likely some would not feel comfortable with such a platform. Ideally, the most notable disadvantages of using social in the workplace include, only appeals to a section of employees who are tech-savvy, diminishes face to face communication, lack of participation, can result in bullying, loss of and confidentiality.
Analysis of findings
This section would allow me to synthesize and put to the right perspective how social media impacts communication in the workplace. This section will be backed by some academic resources. This section would give an in-depth view of how employers should view social media. Organizations may be pleased to use social media because it is critical to better understand it. Understanding social media communication would help especially managers identify the appropriate channel to use depending on type of message to be delivered. Therefore, in my analysis I will use the following sources to dig into why organization should adopt social media use in their workplace. Also, these sources would help employees make proper decisions on how to communicate using social media.
Source 1.
Name: Social media and productivity in the workplace: Challenges and constraints.
Type: Journal article
Relevance: This resource is important because it underscores its impact on productivity in the workplace. This resources helps the audience reflect on social media is likely to influence their performance. Generally, social media is believed to influence performance of employees. This article offers a context for which one can understand how social media impacts productivity.
Source 2.
Name: Effect of social media pertication in the workplace on employee productivity.
Type: Journal Article
Relevance: Similarly, this resource is relevant to the report because it also discusses the likely effect of social media on the performance of an employee. This article has enough information that can be used to evaluate the advantages and disadvantages of using social media in the workplace to communicate.
Name: Managing and leveraging workplace use of social media
Type: Website
Name: 7 Reasons why social media in the workplace can help employees.
Type: Website
Relevance: This resource is also relevant since it shares justifications for adopting social media in the workplace. The seven reasons are logically explained and they offer an insight into the role social media used to communicate in the workplace. In essence, this article justifies reasonably, why employers consider worth using social media to communicate with their employees.
Reliability of the resources-The internal consistency of all the four sources makes them reliable. The split-half reliability shows that there is a correlation between social media and productivity in all the four resources.
Conclusion
In the conclusion, the report will answer how Bunzl is going to benefit from use of social media in its workplace. The advantages outlined in this report will inform why the company should embrace social media. Also, there is a question on how social media can be disruptive and reduce productivity. Other questions will focus on how to reduce bullying and enhance confidentiality in social media use.
Recommendations
It is recommended that this report addresses minimization of dormant participation in social media discussions by providing reliable communication gadgets and internet.
References
Aguenza, B. B., Al-Kassem, A. H., & Som, A. M. (2012). Social media and productivity in the
workplace: Challenges and constraints. Interdisciplinary Journal of Research in Business, 2(2), 22-26. Retrieved from: https://pdfs.semanticscholar.org/2675/378a78c682793b8e9ff235be302b88051233.pdf [Accessed date: 18 April, 2020].
Jeanetta, T. (April 25, 2017). 7 Reasons why social media in the workplace can help employees.
Retrieved from: https://theolsongroup.com/5-reasons-social-media-workplace-can-help-employees/[Accessed date: 18 April, 2020].
Munene, A. G., & Nyaribo, Y. M. (2013). Effect of social media pertication in the workplace on
employee productivity. International Journal of Advances in Management and Economics, 2(2), 141-150.
SHRM. (Jan 19, 2016).Managing and leveraging workplace use of social media. Retrieved from:
https://www.shrm.org/resourcesandtools/tools-and-samples/toolkits/pages/managingsocialmedia.aspx[Accessed date: 18 April, 2020].
Diversity in Children’s Literature
Society is diverse, and writers who are keen on diversity will observe it. When writing literary work for children, it is essential to be as diverse as possible. When children grow, they find themselves immersed in a heterogeneous society. Therefore, as Lukens, Smith, & Miller (2013), indicate it is the role of writers of children’s literature to maintain diversity in their work. If diversity is maintained, children are likely to reflect deeper on how to live with those that are different from them. Charlotte’s Web, Brown Girl Dreaming, and Where the Wild Things Are are great literary works for children because they portray diversity.
Charlotte’s Web teaches about tolerance in society regardless of differences. In this literature, it is clear two living things, that is, the pig by name Wilbur, and spider, Charlotte became friends regardless of their differences. Charlotte saved the life of Wilbur, who was to be slaughtered for Christmas (White, & Whiteley, 2009). In this case, Charlotte learned that Wilbur was going to be feasted on Christmas. However, he managed to save his life. From this kind of story, children are likely to appreciate diversity because this literature explicitly underscores a friendship of two things with a different background. Through this literature, children are expected to consider friends and help each other regardless of their experiences, skin color, or ideologies. Therefore, Charlotte teaches tolerance and commitment to be kind to each other when living with other people who are different.
Where are the Wild Things Are, underscores how to treat children with emotions. In this literary work, Young Max is a naughty child that persistently chases a dog with a fork. Max’s mother usually called him the “Wild thing” when he misbehaves. In the worst-case scenario, Young Max is sometimes sent to bed hungry when his mother gets worked up with him for misbehaving (Sendak, 1988). While angry, Max would go into the jungle where wild things embrace him. Instead of remaining in the jungle, Max still goes back home. In essence, there is an element of ideological differences and personality differences that is splitting Max with his mother. Also, the fact that Max could go to a foreign land where he is loved reinforces the aspect of diversity. Essentially, this book informs the need of people to tolerate each other even if they differ with them. Also, Max’s decision to go into the jungle could be interpreted to mean that people should be willing to get into dominant communities different from one and try to live with them peacefully. By living peacefully or making peace with others, people become tolerant of each other.
The story of Brown Girl Dreaming reflects the need to treat others well and respect each other’s being. This story is about an African American narrating her life and experience in the U.S. during her childhood (Woodson, 2014). Her narration emphasizes the deep-rooted racism and intolerance to diversity. From this story, children are likely to reflect on the need for them to treat others fairly and recognize the importance of every individual in society. This story directly reveals how terrible society can be if people can fail to embrace diversity and love each other. Allowing children to read this book will enable children to know about history. It will also allow children to reflect on their failures of their ancestors to live tolerantly with others.
According to Lukens, Smith, & Miller (2013), literature or literary works can either be explicit or implicit. By and large, these three narratives present the aspect of diversity both implicitly and explicitly. Literature does not directly mention something; it offers readers a window of reflecting. Lukens, Smith, & Miller (2013), believe that literature allows readers to develop themes from their readings and reflect on society. Given the setting of these texts, a person is likely to reflect on diversity. Therefore, these narratives are essential because they are offering children an opportunity to reflect on what happened in the U.S. in the 20th century. The story of Max in Where the Wild Things Are, help children reflect on how society was in the past. It allows children things genuinely, how a person could live with things, and still become a darling. Similarly, Charlotte’s Web help children thing about the struggle some people go through to survive, especially if their lives are not considered important. Wilbur, in this case, is not considered to deserve love and life. Equally, in a society, if people do not find others as equal and deserving, they will treat them like animals. Besides, the Brown Girl Dreaming directly narrates the dark history in the U.S. that cannot be healed by upholding diversity.
These narratives help children to learn that life is challenging and requires a tolerance for one another. In the three books, it is crystal clear that all the characters are facing challenges in their struggle to live comfortably and normally. The problems or conflict presented in these books help children to think about their role in dealing with social challenges like tolerating those different from them. If children can reflect deeply on these books, they appreciate that life comes with a myriad of problems that can only be overcome if people embrace diversity. Accepting diversity helps people navigate through every situation in life.
The books also teach children that life is amid challenges or disagreements; there is still a glimpse of hope. Life is challenging, and it can reach a point where one would feel to give up, but that will not be a wise option. That is why when Charlotte was almost slaughtered, he wanted to give up and be slain. But the hope that they can stills speak out and demand to live not to die reinforces why people should have hope even in challenging situations.
In summation, Charlotte’s Web, Brown Girl Dreaming and Where the Wild Things Are, present diversity in literature, which can teach children the need to tolerate others. These stories are reflective in nature, and they will help children to think about how they can create a better society free of conflict and intolerance. Indeed, the basis of these narratives is to help children look at the kind of situations; await them if they cannot pull together as a diverse people.
References
Lukens, R. J., Smith, J. J., & Miller, C. C. (2013). A critical handbook of children’s literature.
Boston, Mass: Pearson.
Sendak, M. (1988). Where the wild things are. New York: HarperCollins.
White, E. B., & Whiteley, M. (2009). Charlotte’s web. North Rocks Central School for Blind
Children..
Woodson, J. (2014). Brown girl dreaming.
