Critical Assessment Of The International Alliance Of Women

Critical Assessment of the International Alliance of Women The International Alliance of Women (IAW) is an international non-governmental organization that works to promote women s human rights around the world, focusing particularly on empowerment of women and development issues and more broadly on gender equality. The basic principle of the IAW is that the full and equal enjoyment of human rights is due to all women and girls. Founded in 1904 and based in Geneva, it is one of the oldest, largest and most influential organizations in its field. It’s comprised of forty-one member organizations involved in the advancement of the human rights of women and girls globally. The IAW has general consultative status with the United Nations Economic and Social Council and is credited to many specialized UN agencies, has participatory status with the Council of Europe and is represented at the Arab League, the African Union and other international organizations. The IAW was formed to help the fight for women’s suffrage. The womenâ€℠¢s suffrage movement was the struggle for the right of women to vote and run for office and is part of the overall women’s rights movement. The suffrage movement in the United States gained prominence with the first women’s rights convention in the world: the Seneca Falls Convention in 1848. The convention was organized by Lucretia Mott and Elizabeth Cady Stanton, active members of the abolitionist movement who met in England in 1840 at the WorldShow MoreRelatedSample Of Application Essay1099 Words   |  5 PagesBelgium and New Caledonia for several years, where I was involved in literacy development in French, English and indigenous languages (i.e. Camuki), teaching and training Kanak women through a workshop approach, using self-developed teaching materials and methods. Upon my arrival in Australia, I became involved in the Alliance francaise and the promotion of French language and culture as a Vice-President of the organisation in Darwin. I started a teaching deg ree and even completed placements in variousRead MoreBiography of Susan B Anthony1496 Words   |  6 Pagesof age. When she got comfortable in her Rochester home in New York, it was here that she started her first public campaign on behalf of abstinence. This was one of the first appearances of feminism in the United States, and it involved children and women that were abused and who suffered from husbands who were alcoholic. In 1849, at the Daughters of Temperance, Susan gave her first public speech, and then helped in discovering the Womans State Temperance Society of New York. At the time, it was oneRead MoreEarly Approaches to Interantional Relations2122 Words   |  8 PagesEarly approaches to international relations can be found in the works of the Greeks and Romans. Plato and Aristotle, who wrote on the concept of war and the defense of the city-state. Partially as a result of the decline of the Greek city-states, the idealist concept of cosmopolitanism and world citizenshi p took hold. Roman scholars later developed the law of nations, which consisted of a body of legal principles and practices common to those societies associated with Rome. French writers, particularlyRead MoreGlobalization of Enterprise3966 Words   |  16 Pagessubmitted, to AIB, I have not plagiarised any other person’s work in this assignment and except where appropriately acknowledged, this assignment is my own work, has been expressed in my own words, and has not previously been submitted for assessment. | ASSESSMENT SHEET(to be completed by the examiner) | Student name: | NIGEL.S.PALTOO | | | Course name: | MBA -GENERIC | | | Subject name: | Globalization of Enterprise 715-GE | | | Assessor/marker: | | | | COMMENTS | PrinciplesRead MoreDirected Study6575 Words   |  27 PagesDirected Study #2 International Management - Managing Across Borders and Cultures Chapter 2 Managing Interdependence -Social Responsibility and Ethics Discussion Questions 3.  What does moral universalism mean?  Discuss your perspective on this concept.  Do you think the goal of moral universalism is possible?  Is it advisable? Moral universalism is a moral standard toward social responsibility accepted by all cultures. My opinion is that what is morally correct in my culture may not be in anotherRead MoreThe Persian Puzzle, And The Labyrinth Of U.s. -iranian Relations3538 Words   |  15 PagesAlex Kiselev Senior Research Literature Review Dr. Nylen 10/27/2014 Working Title To many observers of contemporary international relations, Iran and its behavior in the international arena appear somewhat perplexing. Kenneth Pollack has described the â€Å"Persian Puzzle,† and the â€Å"labyrinth of U.S.-Iranian relations;† Stephen Walt has described Iran as a â€Å"riddle, wrapped in a mystery, inside an enigma;† and Ray Takeyh, a senior fellow for Middle Eastern studies at the Council on Foreign RelationsRead MoreThe Human Rights Crisis Of Girl Sex Trafficking3460 Words   |  14 PagesSo the major purpose of Maiti Nepal is to administer the Nepal-India border and look out for any suspicious activities. Some of Maiti Nepal s most trailblazing work is on surveillance of the border crosssings between Nepal and India. There young women from Maiti (former trafficking victims) work in cooperation with police - watching for suspicious activity, intervening when they see it, and rescuing over 2,000 girls this year alone, before they could be sold to brothels. In addition, Maiti NepalRead MoreEffective Discharge Teaching for Nurses1734 Words   |  7 Pageswarfarin (p. 373). Most are unaware of the consciousness and complications foods that are high in vitamin K brings to their current health status. Clinents also lack the knowledge of the need to adjust their warfarin dosing and monitoring of the International Normalization Ratio (INR) level. Although nurses do give a quick verbal instruction such as, informing patients to immediately report to provider if they observe bruises on skin, excessive gum bleeding or blood in urine, patients fail to fullyRead MoreInternational Trade And Its Effects On The World1820 Words   |  8 PagesBusiness internationally has thrived for an inordinate length of time due to its various assistance offered to different nations across the globe. International trade can be defined as the exchange of services, goods, and capital among different countries and regions, short of any barriers. Today it generates close to $18 trillion around the world annually. It contributes for a good part of a country’s G.D.P and is also one of the vital means of income for developing countries of the world. Use ofRead MorePolicy Plan For Eradicate Yellow Fever Essay2148 Words   |  9 Pagescase), and Namibia (1 case), despite International Health Regulations (IHR). WHO classified the outbreak as grade two emergencies and provided extensive support for disease surveillance, mass vaccination campaigns, social mobilization, and vaccination of travelers to control the outbreaks and prevent the global spread of the disease. This policy proposal will examine the vulnerable population, the issues of concern, evaluate existing policies, risk assessment for change, stakeholders involved, recommendations

Authority And The Canterbury Tales - 1825 Words

Authority and The Canterbury Tales Geoffrey Chaucer, widely known for his influence in medieval literature, expresses a fourteenth century literacy concept of authority and gentility in The Canterbury Tales. There are two forms of authority and gentility that will be covered in this discussion: authority and gentility in Chaucer’s personal life and the one in his two tales, â€Å"The Wife of Bath’s Tale†, and â€Å"The Clerk’s Tale†. Chaucer himself loses a sense of authority over his writing after his death, when his scribe, Adam Pinkhurst takes over as his authorial supporter. A wide speculation follows Chaucer and his Canterbury Tales because it is believed that Chaucer himself did not complete his tales in its entirety, since his death came before the publication of the book as well as the arrangement of the tales not being in order. In Simon Horobin’s article â€Å"Compiling The Canterbury Tales in Fifteenth-Century Manuscripts†, N. F. Blake raises the possibility that â€Å"some of the earliest manuscripts of The Canterbury Tales may have been written under Chaucer’s supervision, and that differences in content and tale order would therefore represent separate stages of authorial revision† (Horobin, 372). Aside from the completion of the tales, more important the authenticity of his work is greater questioned because his idea for the pilgrims are perhaps borrowed from predecessors, for example Giovanni Boccaccio’s The Decameron that holds a similar theme. Chaucer deals with a form ofShow MoreRelatedThe Canterbury Tales, by Geoffrey Chaucer1582 Words   |  7 Pages Geoffrey Chaucer wrote the Canterbury tales a collection of short tales in the 14th century. The compilation of stories are told by different characters within the narrative as part of a game proposed by the host. Each individual must tell two stories on their journey and two stories on their way back. Each story tells some aspects of English life during the time and often added satire like qualities to the English life. In particular Chaucer often tells stories with elements of the relationshipRead More Character Analysis of The Wife of Bath of Chaucers Canterbury Tales1623 Words   |  7 Pages Character Analysis of The Wife of Bath of Chaucers Canterbury Tales The Canterbury Tales is Geoffrey Chaucers greatest and most memorable work. In The Canterbury Tales, Chaucer uses a fictitious pilgrimage [to Canterbury] as a framing device for a number of stories (Norton 79). In The General Prologue of The Canterbury Tales, Chaucer describes in detail the pilgrims he meets in the inn on their way to Canterbury. Chaucer is the author, but also a character and the narrator, and acts likeRead MoreCourtly Love in The Knights Tale and The Wife of Baths Tale1353 Words   |  6 Pagesin his work The Canterbury Tales. Through the use of satiric elements and skilled mockery, Chaucer creates a work that not only brought courtly love to the forefront of medieval society but also introduced feministic ideals to the medieval society. At times, Chaucer even makes readers question his beliefs by presenting contrasting elements of principle in The Knight’s Tale and The Wife of Bath’s Tale, both tales told in his profound, multifaceted The Canterbury Tales. Many tales of courtly loveRead MoreEssay about Relationships in Geoffrey Chaucers The Canterbury Tales520 Words   |  3 Pagesalso be found in stories about a husband and wife. In Geoffrey Chaucers The Canterbury Tales many of the characters make this idea apparent with the stories they tell. In â€Å"The Pardoner’s Tale†, a distinct relationship can be made between the character of the Pardoner and his tale of three friends. Also, the Wife in â€Å"The Wife of Bath’s Tale† boldly declares her relationship towards her husband. Throughout â€Å"The Pardoner’s Tale†, the main character teaches about greed, gambling, desecration, and drinkingRead MoreWomen And Male Authority Figures1507 Words   |  7 Pages In the fourteenth century, women were merely seen as subject to male authority figures. A wife was not seen as a competent adult because they were seen as so dependent on their husband (Bennett 104-105). After a marriage anything she owned became possessed by her husband (Bennett 104-105). Women who manipulated their husband and gained control of his assets defied the norm of women’s position in the fourteenth century. The church was a major part of Medieval England and controlled many peoples livesRead MoreUse Of Satire In Canterbury Tales1301 Words   |  6 PagesChaucer’s Satyric Attack (An analysis of Chaucer’s use of satire to reach his intended audience in his Canterbury Tales) Satire is defined as â€Å"the use of humor, irony, exaggeration, or ridicule to expose and criticize peoples stupidity or vices, particularly in the context of contemporary politics and other topical issues† (Oxford). Another term that people would be more familiar with to describe this would be sarcasm. Language can be utilized in a nasty way, especially when wanting to demoralizeRead MoreThe Wife of Bath1145 Words   |  5 PagesThe Canterbury Tales are an accumulation of many pilgrims’ stories as they make their journey to the site of Sir Thomas a Becket’s shrine, as he was the martyred saint of Christianity. There are many stories included in The Canterbury Tales. Of these many tales, one of them is the story of the Wife of Bath, whose real name is Alisoun. From her appearance and behavior, to her political and religious views, there is much to tell about the Wife of Bath, for her prologue and tale are quite long. Read MoreCanterbury Tales Character Analysis1334 Words   |  6 PagesThe Canterbury Tales is a written work, by Geoffrey Chaucer, that is a representation of the society he lived in. His work portrays the feudal system during the medieval times and how each level of livelihood was a character, whose personalities reflect how Chaucer and his culture view them. During his time, his society regarded the Christian Church as corrupt and manipulative, with a few clergy who are honest and genuine in their exertion. Therefore, the ecclesiastical persona has the dispositionsRead MoreGeoffrey Chaucer s The Canterbury Tales868 Words   |  4 PagesChurch authority to lead by example, ideally abiding by the practices they teach in The Canterbury Tales. Through the use of bickering ironic characters such as the Friar and the Summoner, Chaucer juxtaposes these hypocritical examples with the loyal and archetypal Parson’s description in the General Prologue. The Parson is concerned with the same governing leadership practic es and responsibilities for his parishioners as Richard II’s post-revolution kingdom. Figures of religious authority emphasizeRead MoreEssay on The Portrayal of the Clergy in the Canterbury Tales1169 Words   |  5 PagesThe Portrayal of Religion and the Clergy in The Canterbury Tales Geoffrey Chaucer, in his Canterbury Tales, felt that the Churchs turmoil experienced during the fourteenth century contributed to the a declining trust of clergy and left the people spiritually devastated. The repeated epidemics that the European Church experienced weakened the church by highlighting the clergys inability to face adversity. The clergys inability to provide relief for the people during a period of suffering did

Accounting Systems in Australia Samples †MyAssignmenthelp.com

Question: Discuss about the Accounting Systems in Australia. Answer: Introduction Accounting software packages systems are used to collate data about a business and report on its financial viability. It allows you to structure expense accounts andincome, for instance, advertising expenses, rental or sales income, material costs and salaries. They also can be used to wield pay bills, bank accounts and prepare budgets. Some accounting software also permit you to handle payroll, prepare tax documents and manage project costing depending upon the system. Current Organizational Structure The hierarchy in the accounting department helps to make sure that finances are managed responsibly and effectively. The following shows the organizational structure of companies that uses accounting software. Chief Financial Officer- Also called the vice president of finance is the top most senior executive of an accounting organizational hierarchy. This office directly reports to the business owner or CEO. His/her role is to ensure that all areas of accounting are carried out in accordance with policies of the company. Financial Controller- Many firms have a financial controller that reports to the Chief Financial Officer but has more detailed accounting responsibilities. The controller manages daily expenses and ledgers, assigns duties to other accounting employees and communicates with the Chief Financial Officer to ensure companywide financial decisions are made. His/her input is considered advisory since s/he is not a member of the executive team. Division Managers- The financial controller will generally have three major reports in bigger companies, that is, the payroll manager, accounts receivable manager and the accounts payable manager. According to Aquinas, (2010), in smaller firms, one division manager can perform all these duties, or they may be carried out by the controller or Chief Financial Officer. Under any circumstances, these divisions represent the main elements of the accounting structure. Their roles are to manage salaries, expenses and incomes. Accountants and Clerks- Accountants and clerks work for the division managers. These are specialized professionals with knowledge in, managing expenses, tracking income, Human Resource policy and administering payroll. Interns- organizations of all sizes employ intern, students or young professionals to assist them in doing the daily activities of the accounting division. These young professionals can be paid or unpaid, but typically their roles will be at the lowest rank of the hierarchy. They may help in filing, research, data entry, and among other administrative duties allocated to them by their managers, who are usually either the controller or the division managers. Operational Problems A firm with a good organizational structure enjoys the advantages of enhanced communication with the ability to develop a common company message and a well-designed hierarchy. As much as the organizational structure can be efficient, it can also bring about problems that can cause internal conflict and loss of productivity. Johnson, (2012). Some of the problems encountered are; Departmental Loyalty- There can be mentality of us versus them among different groups. For instance, sales may feel frustrated with accounting because credit terms for new clients are not getting approved. New Management- The company tend to settle into a way of carrying their roles that they feel is comfortable and efficient for the existing management team, if there have been no changes for a long time. Changes in management, can put pressure on the organizational structure of a company. The new management, may lack knowledge with the way things were done and may come up with new ways on how things should be run in an organizational structure. Confusion- Without effective communication, new processes and ideas can get confused. Managers may start to put more efforts trying to claim some parts of a process as their own. Confusion can slow down production if departments fail to get their responsibilities clearly. Company Goals- If there is inadequate consultation between the upper management and other departmental managers during creation of departmental goals, the company runs the risk of not achieving its objectives. Effectiveness of an organizational structure, requires upper management to seek the input of the rest of the company employees to develop company goals and objective. System Acquisition Method The most likely system acquisition method would be commercial software. This is because it is the dominating accounting software used across the world. It is relatively configurable to the requirements of a business. It has several layers of error detection to avoid the entry of wrong information. It generates standard reports that can be customized to meet users needs. Enterprise resource planning and custom software, may not be the preferred methods because they are expensive, takes time to install, buggy and requires regular maintenance. Wahlen, Bradshaw Baginski, (2014) System Flowchart of the Sales Procedures Sales system flowchart defines a series of activities taken to achieve a particular result. It also refers to the series of actions that sales manager in an organization follows to close a deal with a customer. Control Problems and Possible Frauds in the Accounting System Computer time theft- Information generated by an individual can be claimed by another person that the data is his own and he is the actual generator. In computer systems original copy and duplicate copy terms does not exist. Macintosh Quattrone, (2009). Program manipulation- A competitor, rival or an intruder can modify, delete or manipulate one or more program parts of an organization rendering the full software unusable. Theft of information- Information stored in a computer can be transferred into external storage and could be sold to competitors. With enhancement of communication technology, employees of the company may transfer confidential data of a company to another. Hackers can tap to a network and extract data. Theft of software- This is the most experienced crime in computers systems. Company employees or staff may copy the software bought by a company and transfer it to his personal computer. Extra rules, policies and controls can be implemented to protect hardware and software from unauthorized use. Access control- The first system security should be hardware and software control. The system should be kept under lock and key to avoid theft of the hardware. Electronic and physical access control techniques including limited after-hour, keyboard locks, restricted access to systems and automatic logs should be implemented. Passwords- Provision of passwords should be made at all system security levels. Changes should be made frequently or when required to prevent unauthorized users from accessing the system resources. Backup Copies- It is recommended to perform frequent backups of all software and store them differently from the usual storage media. Backups are normally taken on external media such as disks and cloud which are later used to restore data when raw data from the system fails. It is also necessary to take backups of software programs. Development and Adoption of the Accounting Software Packages Some years ago, the demand and utilization of cloud based accounting software was minimal in Australia. Traditional forms of accounting were dominant among business firms. For instance, they used manual accounting entries such as use of pen and paper in the early 1980s. However, evolvement of a number of spreadsheets and accounting software had modified accounting system function in the country. Emergence of accounting cloud based software in Australia like Quick books, Xero and among others has led to an evolution in the functions of the accounting system in the business firms. The cloud based software are integrated in nature, internet based and easy to use. These have stimulated the popularity growth of accounting software packages in the country. Accounting cloud based software packages has become a simple accounting package to a company management tool. Mageto, (2017). The Current Market Size Business accounting software market is predicted to grow at a compound annual growth rate of 6.3% over the forecast period that is 2017 to 2024 globally. The world market for business accounting software was estimated at revenue of USD 3.2 Billion in 2016 and is envisioned to meet a valuation of USD 4.4 Billion by the end of prediction period. Sudden emergence of mobile application of business accounting and the need for efficient way to manage accounts of small organizations are expected to be the changing factors behind the flourishing of world business accounting software market. Deep analysis of the global business accounting software market involves the following areas: manufacturing, service and retail. Smith, (2015). Leaders in the Market and their Competitive Advantage Xero Accounting is one of the cloud-based accounting software that leads in the market. It was developed specifically for medium and small businesses. According to GRO?NFELDT STROTHER, (2006), it was first introduced in New Zealand in 2006 and became a popular buzz globally. The company further thrived mainly in Australia. Since Xero Accounting is structured to meet the basic needs of small and medium business, its user-centric interface is made easier for performing daily transactions by its developers. Some of their competitive advantages are; Its cloud based- Xero Accounting was developed up for the cloud unlike its competitor QuickBooks. Cloud computing implementation on the platform fastens the process of updating entries in real time. This henceforth yields to timely assessments and regular analysis of the present financial standing of a firm, thus accelerating its growth. Another benefit the cloud is giving is its accessibility. Accessibility of accounts anytime and anywhere by users is made possible whenever theres an internet connection. Smith, (2015). It is Simple and Intuitive UI - Xero Accounting software was built for individuals who arent much into accounting, but also good enough for accounting expertise. Its well-arranged structure makes it a fun to use. Other competitive benefits of Xero are, its great integration system, unlimited collaboration of users, it has rich features, processes are fast and easy to set up and it is reasonably priced. Challenges Encountered by Users of Accounting Software Some of the problems faced by the users include; Inadequate security- Software customers feel that the security of their data is at stake as they can be accessed by third parties. Weak reporting service- Users finds it disappointing that a system easily accepts their data but almost impossible to retrieve them yet some of accounting software solutions are powerless in assisting them.Clarke, (2008). Lack of efficiency- Some accounting software products lack capabilities, compatibility, expend abilities and some features that are not user-friendly therefore consuming a lot of time. Outdated lack of accuracy- Due to outdated of some accounting software systems, system errors happen, details tend to be inaccurate and system slows down. Recommendations To counter these challenges, the company should ensure that the following are adhered to: Install and regularly update system firewall so as to detect and prevent any third party access. Report is a very important part of any system. Therefore, an accounting system should facilitate generation of standard reports by users that ca be customized depending on the need and use of the report. Ensure that when sourcing out for accounting software should consider usability and customizability of the program. This will ensure user friendliness of the system and thus customers can interact with it easily. Accounting software should be updated gradually to deal with bugs and security threats arising due to rapidly evolving technology. Conclusion In conclusion we find that accounting software have their several advantages which include: simplicity of data entry, automated reports and analysis, speeds up processes, automated functions and reduced errors. However, it also has some disadvantages that comprises of price-its expensive, implementation-its complex and requires expertise. References AQUINAS, P. G. (2010).Organization structure and design: applications and challenges. New Delhi, Excel Books. CCH INCORPORATED. (2008).Top accounting issues for 2009: CPE course. Chicago, CCH. CLARK, M., EATON, M., MEEK, D., PYE, E., TUHIN, R., CLARK, M. (2012).Australian small business: key statistics and analysis. [Canberra], Dept. of Industry, Innovation, Science, Research and Tertiary Education. CLARKE, S. (2008).End user computing challenges and technologies: emerging tools and applications. Hershey, PA, Information Science Reference DAFT, R. L., MURPHY, J., WILLMOTT, H. (2010).Organization theory and design. Andover, South-Western Cengage Learning. DENTCH, M. P. (2017).The ISO 9001:2015 implementation handbook: using the process approach to build a quality management system HANSEN, D. R., MOWEN, M. M., GUAN, L. (2009).Cost management: accounting and control. Mason, Ohio, South-Western. HOPPER, T. (2012).Handbook of accounting and development. Cheltenham, Edward Elgar. https://public.eblib.com/choice/publicfullrecord.aspx?p=981461. INTERNATIONAL MANAGEMENT ACCOUNTING CONFERENCE, RUHANITA MAELAH. (2009).Sustaining competitiveness in a liberalized economy: the role of accounting. Newcastle, Cambridge Scholars. https://public.eblib.com/choice/publicfullrecord.aspx?p=1165612 JOHNSON, M. P. (2012).Community-Based Operations Research: Decision Modeling for Local Impact and Diverse Populations. New York, NY, Springer Science+Business Media, LLC. https://www.dawsonera.com/depp/reader/protected/external/AbstractView/S9781461408062 KRIZAN, A. C. (2011).Business communication. Australia, South-Western Cengage Learning. MACINTOSH, N. B., QUATTRONE, P. (2009).Management accounting and control systems: an organizational and sociological approach. Hoboken, N.J., Wiley. MAGETO, J. (2017).Accounting Softwares in Australia. An Overview. https://nbn-resolving.de/urn:nbn:de:101:1-201707181686. NELSON, D. L., QUICK, J. C. (2011).Organizational behavior: science, the real world, and you. Mason, OH, USA, South-Western Cengage Learning. SMITH, H. N. (2015).Xero for dummies. https://www.books24x7.com/marc.asp?bookid=82578. WAHLEN, J. M., BRADSHAW, M. T., BAGINSKI, S. P. (2014).Financial reporting, financial statement analysis, and valuation.

Governments Regulate Natural Monopolies †Myassignmenthelp.Com

Question: Why And How Governments Regulate Natural Monopolies? Answer: Introducation Today, natural monopolies are one of the oldest varieties of the free market economy throughout the world. In Australia, natural monopolies play a significant role in the economy. Mainly, this form of market structure arises due to high fixed and initial costs of setting up and operating in a particular industry (Welker, n.d.). Also, they may arise due to constraints brought about by control over raw materials and technological factors in a given industry. Thus, companies explore the high barriers to entry to create a defensive wall that keeps off competition (Arkani, 2010). Consequently, it blocks potential competition in the market, and acts as the sole seller of a given product. Thus, firms have the power to determine the quantity of a product that is produced and the prices charged for that product (Monopoly, n.d.). In most cases, monopolies limit their production to raise the prices of their goods and services. In this regard, governments regulate natural monopolies in order to protect consumers from exorbitant monopoly prices. Reasons for Regulation Maintain low prices One of the major reasons why governments regulate natural monopolies is to ensure that they maintain low prices. As noted earlier, the monopoly market structure permits firms to set the quantity and price for the goods they produce. As a result, producers have the power to raise their prices higher than they could of they were operating under competitive market structures (Pettinger, 2012). In a perfect competitive structure, prices are determined by forces of supply and demand in the market. Thus, the prices are always at equilibrium. However, in a monopoly market structure, firms manufacture goods at the point where the MR equals their MC, but charge the price determined by the demand curve. In turn, they make supernormal profits at the expense of consumers welfare. Monopoly pricing Source: (Pettinger, 2012) From the graph above, one notes that the prices charged by a natural monopoly is higher than the average total cost incurred in the production of the product. In turn, this results in deadweight loss, thereby leading to a reduction in consumers welfare (Pettinger, n.d.). For this reason, the government steps in and initiates measures that aim at reducing the price level that such firms charge their consumers. Improve efficiency The government also instills measures to regulate monopolies with the aim of improving their level of efficiency. More precisely, the lack of competition in this market may cause firms to be unproductive and wasteful as they are the only firms that can produce a particular product. Often, they have little incentive to improve the quality of the goods and services that they produce. Therefore, the government steps in by creating minimum standards of service and quality of products that the firm must meet. How Governments Regulate Natural Monopolies The government instigates regulatory measures on natural monopolies in various forms. In most cases, the regulation takes the form of price capping, regulation of the quality of service, rate of return policies, and average cost pricing systems, among others. Price Ceiling Notably, price capping is one of the most efficient methods used by the government to regulate the price charged by monopolies for their goods and services. Fundamentally, a price ceiling is where the government sets a maximum price that firms can charge for a particular product. In this case, firms cannot charge a price higher than the designated price. In turn, this helps in regulating the amount that monopolies can charge for their products. Indeed, this way, monopolies are unable to raise their prices, thereby leading to the protection of the welfare of consumers of that product. According to the figure below, the firm would charge consumers a price of Pm if its prices are not regulated. However, when the government sets the price ceiling at the point Pr, the firm is forced to reduce the price it charges to the one set by the government. In this case, the government spares the consumer Pm-Pr that they would have used on buying one unit of the commodity at the monopoly price. It also reduces the deadweight loss associated with monopolies, thereby increasing welfare of consumers. Regulation through creation of a Price Ceiling Source: (Osborne, 1997). Average Cost Pricing The government may also set a policy that requires a monopoly to set its prices equal to the overall costs incurred in producing a particular product. In this case, the price set by the firm is limited to the average costs incurred during the production of the good. Consequently, this reduces the pricing flexibility of a company by ensuring that it cannot obtain supernormal profit margins. Rate of Return Regulation In the same way, the government may use the rate of return on capital invested to regulate monopolies. In this policy, the rate of return on investment is capped and, thus, forces firms to reduce the prices they charge for their commodities. Primarily, the percentage net profit that a firm obtains must be below the amount specified by the government to ensure compliance with the regulation. Primarily, the government considers the size of the monopoly and determines a reasonable level of profit from the capital base. Thus, if the firm is making supernormal profits when compared to its size, it is forced to enforce price reductions on its services and goods. As a result, this protects consumers welfare by ensuring the firm sets optimal prices. Regulatory Bodies Another way for regulating monopolies may involve the creation of regulatory bodies that monitor and control the conduct of natural monopolies. Fundamentally, the regulatory bodies are formed to examine the quality of services and products that are produced by the monopolies and compare them with the predetermined standards (Pettinger, n.d.). They also monitor the prices charged by monopolies for their commodities to ensure that they do not exploit their clients. Furthermore, regulatory bodies investigate claims when it is suspected that monopolies are practicing market segmentation, price fixations, and predatory pricing, and take action against offenders. Consequently, it is worth noting that the setting up of regulatory bodies significantly reduces the incidence of exorbitant pricing by monopolies as well as ensures the production of high quality goods by natural monopolies. Indeed, this mechanism guarantees consumer protection and efficiency of firms. Example In Australia, the government has put in place various regulatory bodies (The Conversation, 2012). For instance, the energy regulatory body is charged with the responsibility of regulating the prices of electricity in the country. In the same way, Office of Rail Regulation, in Australia is the economic and independent safety regulator of the railway monopoly in Britain while OFGEM is charged with the responsibility of overseeing and regulating the gas and electricity market. All in all, all factors taken into consideration, it is important for the government to regulate monopolies in the country. Usually, natural monopolies take advantage of the fact that there is limited competition in their market structure. As a result, they charge high prices for their goods and services. On other occasions, monopolies offer poor quality commodities since they do face any form of competition. What is more, the lack of competition in the market reduces the incentives of monopolies to produce efficiently. For this reason, governments initiate regulatory policies to ensure the capping of prices charged by monopolies, ensure production of high quality products and improve their efficiency. Mainly, this is achieved through the setting of price caps in the form of price ceiling, average cost pricing policies, and rate of return regulations. In addition, the government may establish regulatory bodies to monitor the operations of natural monopolies. In turn, the implementati on of these measures ensures the safeguarding of consumer welfare through reasonable prices and high quality products. References Arkani, G. (2010). Monopoly marketing structure- meaning, features and types. Kaylan City Life. Retrieved on 28 Aug 2017, from https://kalyan-city.blogspot.co.ke/2010/11/monopoly-market-structure-meaning.html Deregulation is crucial for lowering Australias electricity costs (2012). The Conversation. Retrieved on 28 Aug 2017, from https://theconversation.com/deregulation-is-crucial-for-lowering-australias-electricity-costs-10625 Monopoly (2012). Economics Online. Retrieved on 28 Aug 2017, from https://www.economicsonline.co.uk/Business_economics/Monopoly.html Orsborne, J. M. (1997). Policies to control a monopoly. University of Toronto. Retrieved on 28 Aug 2017, from https://www.economics.utoronto.ca/osborne/2x3/tutorial/MONCON.HTM Pettinger, T. (2012). Natural Monopoly. Economics Help. Retrieved on 28 Aug 2017, from https://www.economicshelp.org/blog/glossary/natural-monopoly/ Pettinger, T. Regulation of monopoly.Economics Help. Retrieved on 28 Aug 2017, from https://www.economicshelp.org/microessays/markets/regulation-monopoly/ Welker, J. Natural Monopoly and the need for Government Regulation. Economics Classroom. Retrieved on 28 Aug 2017, from https://econclassroom.com/?p=3115