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ADMS 3703 Study Guide - Final Guide: National Flood Insurance Program, Hazard Analysis

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School
York University
Department
Administrative Studies
Course
ADMS 3703
Professor
Abraham Binder

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Document Summary

Policies are set in place to help communities. So it is important for people to understand that they need to follow them in order to benefit completely. However, it is of no surprise that many individuals do not follow the policies unless there is a valuable incentive or there is a penalty involved. Which is more effective is like the debate on whether a leader who is loved is more effective or a leader who is feared. Now history tells us that leaders who are feared are more effective with examples like hitler, stalin and even saddam. However, leaders like gandi, martin luther king and abraham lincoln used love and words of inspiration to not only be effective, but also maintained sustainability, loyalty and compassion. Policies that are based on penalties are very effective because people fear the consequences. However, they will do the bare minimal only to ensure that they are not fined or penalized.

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Related Questions

QUESTION 32

What did the old tort theorists conclude was the overriding question that the “old law” asked, in accord with their assumptions regarding it?

How did one know when a customer must be identified as the recipient of the costs?

How did the parties agree to allocate the costs of the accident?

How would a party know when it would have to pay uncovered liabilities?

How would a party know in what cases it was supposed to insure itself?

0.5 points

QUESTION 33

Huber discusses “the Founders,” meaning:

The original theorists of ecology

The Founding Fathers

The founders of modern tort law

The first moral theorists

0.5 points

QUESTION 34

A crucial case for Huber is the defective Shopsmith in:

Posner

Greeman

Prosser

Calabresi

0.5 points

QUESTION 35

Why does Dowie think that Ford’s cost-benefit analysis is a moral problem?

It places a dollar value on human life.

It is dishonest and includes lies about the Pinto's safety.

It shows that Ford made the Pinto unsafe on purpose.

Dowie doesn't actually think that Ford was morally wrong.

0.5 points

QUESTION 36

Werhane’s main point about the Pinto case is that:

Ford was completely innocent of wrongdoing.

A powerful narrative like Dowie’s article can bring the truth to a wider audience.

Ford was completely responsible for the deaths caused by Pintos.

A powerful narrative like Dowie’s article can skew our perception of the facts.

0.5 points

QUESTION 37

Thomson considers this rule: liability is to be shared between the actual harm-causer and anyone else who acted:

Reasonably

Justly

Negligently

Defensively

0.5 points

QUESTION 38

Thomson outlines three things a plaintiff must show in order to win his case. All of the following are discussed EXCEPT:

The plantiff suffered from harm or loss.

An act or omission of the defendant caused the harm or loss.

The defendant is at fault in so acting or refraining from acting.

None of the above.

0.5 points

QUESTION 39

Ciulla contends that the failure of leaders:

Can be excused.

Are often exaggerated.

Seem more "extravagant" than those of nonleaders.

Carry more "weight" than those of nonleaders.

0.5 points

QUESTION 40

Ciulla argues that American writers used to pay more attention to the moral virtues of leaders than to:

Their chiseled features.

Their personality traits.

Their victories and successes.

Their hopes and dreams.

0.5 points

QUESTION 41

Ciulla points out that while history portrays many leaders as winners, what is rarely questioned?

The intentions of the leader.

The ideological motives.

The needs of the leader.

All of the above.

0.5 points

QUESTION 42

Which is the area in which leaders must be more “meticulous,” according to Ciulla, than ordinary people?

Consistency

Truthfulness

Legal Record

Personal Relationships

0.5 points

QUESTION 43

We often characterize leaders, in Ciulla’s view, according to what?

Their ability to stay out of conflict.

Their ability to benefit the most people.

Their ability to lead.

Their ability to bring about change.

0.5 points

QUESTION 44

Robinhoodism is what, for Ciulla?

Stealing from the poor and giving to the middle class.

Leading a brand of social "rebels" motivated by social privileges.

A type of Machiavellianism.

All of the above.

0.5 points

QUESTION 45

When Machiavelli uses the metaphor of “the lion,” he is referring to what?

Destroying the strategy of an opponent.

Courage.

Using fear as a weapon.

Using love to motivate one's soldiers.

0.5 points

QUESTION 46

According to Machiavelli, when “a Prince is with his army, and has many soldiers under his command,” he needs a certain reputation to keep his command together. He needs a reputation for:

Kindness

"The Beast"

Cruelty

Morality

0.5 points

QUESTION 47

Is it better to be loved or feared, according to Machiavelli, and why?

Feared, because that depends on the Prince and the people.

Loved, because that depends on the Prince alone.

Loved, because that depends on the Prince and the people.

Feared, because that depends on the Prince alone.

0.5 points

QUESTION 48

Machiavelli insists that the Prince should “do his utmost to escape”:

Harm

Power

Enemies

Hatred

0.5 points

QUESTION 49

Machiavelli would argue that for the Prince, lying is:

Never expedient.

Always wrong.

Always good.

Sometimes necessary.

0.5 points

QUESTION 50

Ludwig and Longenecker use the story of David and Bathsheba as a lesson in what, as it applies to being in a position of leadership?

Success

Chastity

Temptation

Delegation

View the video transcript below and share your thoughts on the economic concepts that you believe are applicable.

Question# 1. Provide a rationale on whether or not a firm has to possess market power in order to raise prices.

How to Raise Prices Without Losing Customers

JJ RAMBERG, anchor:

With gas prices soaring and the economy tightening, you may think it’s not possible to charge your customers more. But, it turns out you can successfully raise prices without driving those customers away. Bob Prosen runs the consulting company, Prosen Center for Business. He’s helped business leaders rapidly increase performance, productivity and profits, and he’s also author of the book, “Kiss Theory Goodbye: Five Proven Ways to Get Extraordinary Results in Any Company.” Bob, welcome.

Mr. BOB PROSEN: Thank you.

RAMBERG: So, if you’re going to raise prices on your customers, one of the things you say is don’t surprise them. So, how do you give them warning?

Mr. PROSEN: Well, our customers are very important to us, lets not surprise them. Let’s let them know in advance that prices will increase. But, it’s important to explain to them in their language as to why prices are increasing. For instance, if its fuel surcharges, they’ll understand that. But its important we put it in their language so that they, in turn, can pass that along and plan for it in their own business.

RAMBERG: So, a lot of times when people are paying more, they expect to get more. So, you should communicate increased value I assume. But is saying, um--gas prices are going up for me, is that uh--the same as saying, you’re going to get more for your money?

Mr. PROSEN: No, definitely it’s not. In fact, the equation for value is benefits plus price. So, if prices are going to go up we have to have increased benefits for our customers. So, we can do things like under promise and over deliver. Give them a little bit more. Understand their customer’s customer. So that when we provide our services to them, they’re customized for our customers. They see more value, we understand their business, and therefore they’ll be more appreciative of what we do and less sensitive to price increases.

RAMBERG: That seems to--to follow into your next point, or go right into your next point, which is, track the quality of your products.

Mr. PROSEN: This is absolutely critical, and we can track the quality of our products many ways. Customers call us, complaints, warranty, rework. If we’ll deal with that, capture that, and inside of “Kiss Theory Goodbye” I teach business people how to reduce these problem occurrences and increase the quality of their product. You do it for two reasons: One, customers like us a lot more when things work the way they’re supposed to; and our cost structure goes down therefore maybe we don’t have to increase our prices as much and we can be more competitive.

RAMBERG: And then, also, relationships matter.

Mr. PROSEN: Oh this…

RAMBERG: So, if you have a good relationship, you can do more within that relationship.

Mr. PROSEN: Oh, definitely. People like to do business with people they like. So, lets make sure we stay in touch with our clients. Customize what we touch them with. You know, for instance, when I travel and I deal with business people, I always carry thank you notes in my briefcase. When I’m finished, I send them a note. It’s a rarity these days to even get a thank you note.

RAMBERG: Yeah, it absolutely is. So, about how much can you raise prices by? Can you suddenly figure out that your costs are gone up so much because of energy prices, or food prices, or gas prices, whatever it is, um--and raise it by 50%? Should you do it incrementally? Should you do it all at once? How does it work?

Mr. PROSEN: Yeah, that’s a great question. It depends on what industry you’re in. It depends on what you customers are doing. It depends on a number of things that determine how much, and when, and the frequency of our ability to raise prices. Therefore, what I always recommend to business leaders is work on your cost structure; make sure you’re efficient and effective. Keep your costs as low as you can. Therefore, you can be more competitive on your pricing. Sometimes, you have to pass along the price. Other times, try to absorb what you can through improved efficiencies.

RAMBERG: Should you be looking at your competitors and how much they’re charging?

Mr. PROSEN: Yes, you should absolutely be looking at your competitors. We always want to know what they’re charging. And by the way, we want to differentiate our products and services from our competitors. And, if we can prove a higher value by dealing with us versus our competitor we should be able to articulate that, and we do it based on facts because we know what’s going on in the industry.

RAMBERG: Alright, Bob I know a lot of people are thinking about raising prices so thanks for giving them some tips on how to actually do it.

Mr. PROSEN: My pleasure.

View the video transcript below and share your thoughts on the economic concepts that you believe are applicable.

Question# 1. Why does a firm have to posses market power in order to raise prices.

How to Raise Prices Without Losing Customers

JJ RAMBERG, anchor:

With gas prices soaring and the economy tightening, you may think it’s not possible to charge your customers more. But, it turns out you can successfully raise prices without driving those customers away. Bob Prosen runs the consulting company, Prosen Center for Business. He’s helped business leaders rapidly increase performance, productivity and profits, and he’s also author of the book, “Kiss Theory Goodbye: Five Proven Ways to Get Extraordinary Results in Any Company.” Bob, welcome.

Mr. BOB PROSEN: Thank you. RAMBERG: So, if you’re going to raise prices on your customers, one of the things you say is don’t surprise them. So, how do you give them warning?

Mr. PROSEN: Well, our customers are very important to us, lets not surprise them. Let’s let them know in advance that prices will increase. But, it’s important to explain to them in their language as to why prices are increasing. For instance, if its fuel surcharges, they’ll understand that. But its important we put it in their language so that they, in turn, can pass that along and plan for it in their own business.

RAMBERG: So, a lot of times when people are paying more, they expect to get more. So, you should communicate increased value I assume. But is saying, um--gas prices are going up for me, is that uh--the same as saying, you’re going to get more for your money?

Mr. PROSEN: No, definitely it’s not. In fact, the equation for value is benefits plus price. So, if prices are going to go up we have to have increased benefits for our customers. So, we can do things like under promise and over deliver. Give them a little bit more. Understand their customer’s customer. So that when we provide our services to them, they’re customized for our customers. They see more value, we understand their business, and therefore they’ll be more appreciative of what we do and less sensitive to price increases.

RAMBERG: That seems to--to follow into your next point, or go right into your next point, which is, track the quality of your products.

Mr. PROSEN: This is absolutely critical, and we can track the quality of our products many ways. Customers call us, complaints, warranty, rework. If we’ll deal with that, capture that, and inside of “Kiss Theory Goodbye” I teach business people how to reduce these problem occurrences and increase the quality of their product. You do it for two reasons: One, customers like us a lot more when things work the way they’re supposed to; and our cost structure goes down therefore maybe we don’t have to increase our prices as much and we can be more competitive.

RAMBERG: And then, also, relationships matter.

Mr. PROSEN: Oh this…

RAMBERG: So, if you have a good relationship, you can do more within that relationship.

Mr. PROSEN: Oh, definitely. People like to do business with people they like. So, lets make sure we stay in touch with our clients. Customize what we touch them with. You know, for instance, when I travel and I deal with business people, I always carry thank you notes in my briefcase. When I’m finished, I send them a note. It’s a rarity these days to even get a thank you note.

RAMBERG: Yeah, it absolutely is. So, about how much can you raise prices by? Can you suddenly figure out that your costs are gone up so much because of energy prices, or food prices, or gas prices, whatever it is, um--and raise it by 50%? Should you do it incrementally? Should you do it all at once? How does it work?

Mr. PROSEN: Yeah, that’s a great question. It depends on what industry you’re in. It depends on what you customers are doing. It depends on a number of things that determine how much, and when, and the frequency of our ability to raise prices. Therefore, what I always recommend to business leaders is work on your cost structure; make sure you’re efficient and effective. Keep your costs as low as you can. Therefore, you can be more competitive on your pricing. Sometimes, you have to pass along the price. Other times, try to absorb what you can through improved efficiencies.

RAMBERG: Should you be looking at your competitors and how much they’re charging?

Mr. PROSEN: Yes, you should absolutely be looking at your competitors. We always want to know what they’re charging. And by the way, we want to differentiate our products and services from our competitors. And, if we can prove a higher value by dealing with us versus our competitor we should be able to articulate that, and we do it based on facts because we know what’s going on in the industry.

RAMBERG: Alright, Bob I know a lot of people are thinking about raising prices so thanks for giving them some tips on how to actually do it.

Mr. PROSEN: My pleasure.