Argument For And Against Profit And Wealth Maximization

ARGUMENT FOR AND AGAINST PROFIT AND WEALTH MAXIMIZATION GOALS IN LIGHT OF CORPORATE FINANCE Every individual firm in any market segment has well set goals that it aims to achieve. These goals may be set by the owners or shareholders who must collaborate closely with the agents whom they have given the responsibility to manage the firm. The agents are basically the managers who through the agency theory must ensure that the firm is meeting its strategic goals. A firm with no set goals or one that doesn’t have good managers is set to fail in its bid to make profit and hence will definitely have to close down. To ensure that a firm meets its objectives, a few considerations must be looked at. These could†¦show more content†¦v) Quality of the firm’s products vi) Good industrial relations. Expounding on Financial Goals ( Profit and Wealth Maximization). Profit Maximization Main aim of any kind of economic activity is earning profit. A business concern is also functioning mainly for earning profit. Profit is the measuring techniques to understand the business efficiency of the concern. Profit maximization is also the traditional and narrow approach, which aims at maximizing the profit of the concern. However, unlimited profit maximization cannot be defended by any reasonable ethical theory. The idea that corporations should pursue the interests of their shareholders, takes its starkest form in the sentiment expressed by Milton Friedman, that ‘‘the social responsibility of business is to increase its profits’’ (Friedman, 1970). Friedman is very clear in stating that it is illegitimate for a corporation to act in a way that is detrimental to shareholder returns. Profit maximization is thus a moral imperative for corporate executives. The interests of groups other than the shareholders should thus only be given weight to the extent that pursuing these interests also benefits the shareholders. For instance the implication of CSR is permissible only if it is insincere i.e. used as an instrument toShow MoreRelatedShareholder Wealth Maximization And Profit Maximization988 Words   |  4 Pagesshareholder wealth maximization and profit maximization? If a firm c hooses to pursue the objective of shareholder wealth maximization, does this preclude the use of profit maximization decision-making rules? Explain. Answer: Maximizing profits is typically not the same as maximizing shareholder wealth. Profit maximization lacks a time dimension (long-term versus short-term); GAAP results in hundreds of definitions of profits (or earnings or income) and profit maximization ignores risk. The profits maximizationRead MoreFinancial Principals and Policies864 Words   |  4 Pagesshareholder wealth maximization and profit maximization? If a firm chooses to pursue the objective of shareholder wealth maximization, does this preclude the use of profit maximization decision-making rules? Explain. Profit maximization means the company makes profit maximize. Maximize shareholder wealth states that management needs to bring maximize the value for its owners by make the most efficient resources and reasonable financial management. Therefore, shareholder wealth maximization include theRead MoreWealth Maximization And Corporate Social Responsibility1745 Words   |  7 PagesWealth Maximization and Corporate Social Responsibility Ebehi Onakpoma Introduction There has been a lingering argument about the legitimacy and importance of corporate responses to CSR concerns. There are diverse opinions of the role of the firm in the environment and thoughts on whether profit maximization should be the only goal of a corporation. Profit maximization is the goal of any business. It is the process by which profits (EPS) of the business are increased. 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Whereas business‘s human side stressed the importance of social responsibility, it also opened the room for criticism for its opponents, some of who have expressed legit business concerns; others endorse the belief that social responsibility is an integral part of a business. The purpose of this paper is to present a summary of fallacies of CSR and its advocacy. BUSINESS IS ALL ABOUT PROFIT MAXIMIZATION Among the first and most famous proponents against corporate socialRead MoreThe And The Corporate Sector1484 Words   |  6 Pages Introduction We believe in this long held notion that corporations will never think of doing for the greater good of society and care only and only for their own profit maximization. This may be true in many cases like we hear about Gap’s factory working conditions in Bangladesh, Apple in China and so on. However this may not mean that every corporation is bad and that we should keep bashing the whole corporate sector for this. We have to admit that there is a problem with the declining qualityRead MoreStakeholder4051 Words   |  17 PagesStakeholders, Shareholders and Wealth Maximization V. Sivarama Krishnan, University of Central Oklahoma ABSTRACT This paper attempts reconciliation between the two somewhat extreme views espoused by the shareholder wealth maximization paradigm and the stakeholder theory. The stakeholder theory challenges the basic premise built into corporate finance theory, teaching and practice. Corporate finance theory, teaching and the typically recommended practice are all built on the premise that theRead MoreEssay about Maximizing Profits as the Main Goal2180 Words   |  9 Pages Maximizing Profits as the Main Goal The traditional theory (neoclassical) assumes that firm’s primary objective is to maximize profits. That is if the firm is owner controlled. This assumption is based on that firms makes the output and price decisions. Also, that firm takes all necessary actions to earn the greatest profit possible. The managerial theory assumes firms do not necessarily act in order to maximize profits. The basic tenet behind this is the separation of ownership from

Crimes Against People Essay - 1281 Words

Crimes Against People May 26, 2011 Crimes Against People Crimes that are committed against a person produce a material risk that an offender will threaten body injury or actually use physical force on a person. These crimes are compiled of, but not limited to, offenses such as murder, manslaughter, battery, and assault. Although stalking is considered a crime against a person, it does not require the threat or use of physical force. I will provide you with a more detailed overview of the above stated offenses and the respective punishments for crimes that are committed against people. The material covered will be as follows: Murder- Felony Murder Voluntary Manslaughter- Involuntary Manslaughter Simple Battery- Battery-†¦show more content†¦If any time lapses that gives the offender chance to reason with his or her actions, then the killing is considered murder. Also, â€Å"the theory of mutual combat can reduce murder to voluntary manslaughter.† (Shah, p18) â€Å" A person who commits the offense of voluntary manslaughter, upon conviction thereof, shall be punished by imprisonment for not less than one nor more than 20 years.† (O.C.G.A. 16-15-2 (b) When an offender â€Å"causes the death of another human being without any intention to do so by the commission of an unlawful act other than a felony or by the commission of a lawful act in an unlawful manner likely to case death or bodily harm† it is considered involuntary manslaughter. O.C.G.A. 16-15-3 An unlawful act can be defined as an act that is intentionally committed by an offender. And, as a result of such an unlawful act has unintentionally caused the death of an individual. A lawful ac t committed in an unlawful manner occurs when an individual is in commission of a lawful act, which unintentionally causes the death of another individual in a way that isnt justifiable by the courts. For example, an individual is driving down the road, going the posted speed limit, and a child runs out in front of the vehicle and is killed. This person may be charged with involuntary manslaughter. The offense of involuntary manslaughter committed during the commission of a unlawful act other than a felony, after conviction,Show MoreRelatedDomestic And International Measures Of International Crime1027 Words   |  5 Pagessomewhat effective in dealing with international crime. Both crimes against the international community and Transnational crimes represent both positive outcomes in dealing with international crime, thus, exemplify issues in key areas. Through intergovernmental organizations such as the International Criminal Court and Operation Sovereign Borders (OSB), interna tional crime Is effectively dealt with. Hence, problems such as extradition and people smuggling are hard to contain. 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While there is an agreement between people that the process of reconciliation must acknowledge the wrongs of the past and the victims, many scholars debate about how such acknowledgments are best communicated, so that they will be sufficiently credible and effective in improving future relationsRead MoreEssay The Matthew Shepard Event3985 Words   |  16 Pagesphysical violence against gays. The Gay Panic Defense uses the word panic to convey a sense of abruptness in the perpetrators thought process during the moment they carry out the criminal behavior. The Oxford English Dictionary defines panic as a sudden uncontrollable fear or anxiety. The word panic projects the illusion that the criminal actions taken by gay-bashers do not accurately represent their usual behavior, therefore creating a space for arguing that gay-bashers are good people, like mostRead MoreThe Human And Social Consequences Of Trafficking3089 Words   |  13 Pagesdoes affect most countries around the world. It is estimated that between 600,000 and 800,000 people are trafficked across international borders each year with 50% of these individuals being children (Stop the Traffik, 2014). Additionally the revenue gained from human trafficking annually is only exceeded by drug trafficking and it is classified as one of the most lucrative forms of international crime in modernity (Egan, 2008). These stat istics portray that fighting human trafficking needs to beRead MoreFlaws Of The Laws Against Sex Offenders1616 Words   |  7 Pageswere established. This research is not intended to lessen the gravity of sexual offenses but to understand that our laws against sex offenders are not preventing the sexual offenses. The main problem with the laws against sex offenders, are the sex offender registries, the registries fail to act as a deterrent for sexual offenses and they encourage vigilante justice. 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Laws Specifically Affecting Sex Offenders Sex offenders were first subjected to federal registration laws with the passage of the 1994 Jacob Wetterling Crimes Against Children and Sexually Violent Offender Act. In 1996, Megan’s Law was passed, which required states to post the sex offender registry online and to conduct community notification. Finally, in 2006 the Adam Walsh Child Protection and Child Safety

WTO- Objectives - Policies and Winners or Loosers

Question: Describe about the WTO for Objectives, Policies and Winners or Loosers. Answer: Introduction The modern world is a highly integrated place where practically no economy is closed and self-sufficient with regards to various resources that it requires. Thus, the global economy and stability is dependent on constituent supply of goods and services from other countries and thus international trade is the lynch pin on the back of which the nations are able to fulfil the needs of their people. Besides, trade also ensures that employment is provided to people as a substantial portion of the global GDP is derived from trade. Further, trade also leads to enhanced efficiency with regards to usage of the scare resources as has been indicated by the various trade theories such as comparative advantage and absolute advantage (Misra Puri, 2002). The importance of free trade was realised by UN which led to the introduction of GATT or General Agreement on Trade and Tariffs which was introduced with the specific mandate of enhancing trade liberalisation between countries by ensuring that the various tariff and non-tariff barriers could be minimised resulting in mutual gains. The most significant round of negotiations for GATT was the Uruguay Round held from 1986 to 1994. In order to carry forward the agenda of GATT and the Uruguay round, a new institution came into existence in 1995 known as the WTO or World Trade Organisation (Hoekman, Mattoo English, 2002). The aim of the current research opine is to reflect on the objectives with which WTO came into existence along with focusing on the specific policies that WTO deploys in order to achieve the objectives that it has entrusted with. Further, empirical evidence of WTO functioning in the last two decades would be highlighted to opine on the potential winners and losers on the basis of the WTO negotiations and functioning. On the basis of this critical review, conclusion would be derived at the end. Objectives of WTO The WTO has been formed with a multitude of objectives which tend to deal with the trade related issues and resolution of the same in the betterment of the economy. These objectives are highlighted below (Hoekman, Mattoo English, 2002). To enhance the trade between member states by reducing the various barriers between nations by acting as an appropriate forum for increasing the liberation in trade through intense negotiations amongst representatives of countries. This objective is primarily based on the notion that higher trade liberalisation leads to economic development of for all the involved parties in the trade with particular reference to the interest of the developing countries and LDC (Least Developed Countries) since trade liberalisation provides higher access to developed market for these nations. To act as a forum for the framing of rules and frameworks in the sphere of international trade by bringing the various stakeholders to a consensus and further ensure that member states tend to observe these rules. To act as the highest international forum for the resolution of trade disputes between countries by acting as a neutral arbitrator considering the relevant case facts and thereby promoting free trade. Additionally, the various rules and regulations implemented at the WTO also aim to enhance the overall decision making in regards to decision in relation with trade. The foremost area where this is visible is with regards to imposing of non-tariff barriers which are sanctioned if in accordance with SPS (Sanitary and Phytosanitary Measures) agreement which ensures that national interests are not sidelined which considering the demands of free trade. Policies of WTO Some of the specific policies of the WTO in order to serve the key objectives it is bestowed with deal with the following subjects (WTO, 2016b). Providing assistance to transition and developing economies About 75% of the countries which are part of the WTO belong to this category and hence it is imperative that any future agreement that is negotiated is considerate towards the collective ambitions of these countries. Keeping this objective in mind, training and access to requisite data is provided to these nations so that they are in a position to effectively negotiate at the WTO meetings. The various assistance provided to the nations ensure that the interests of these countries are safeguarded at the hands of the developed countries. Providing specialised assistance to nations for exporting using the ITC or International Trade Centre The ITC was formed during the GATT era but it now operated jointly by WTO and UN so ass to ensure that help is extended to the developing nations with regards to exports promotion. In this regards, the developing nations may request assistance in the response of which specific advice and training is available for these nations so as to identify potential markets for exporting and marketing their products effectively. It is noteworthy that the ITC provides free services for export promotion to LDCs. Enhancing the increased role of WTO in global economic decision making As per the Marrakesh Agreement which paved the way for putting WTO in place, the WTO would ensure higher coherence in the field of economic decision making by enhancing the coordination with other multilateral organisations such as IMF, World Bank and other multilateral organisations which are involved in economic decision making. This engagement by the WTO is performed in accordance with the belief that trade liberalisation is a key contributor to economic development and hence could not be ignored. Hence, attempts are made to ensure that national economic agendas especially for developing nations and LDC tend to enhance trade liberalisation in principle. Enhancing transparency by ensuring that the WTO and public is kept informed The WTO agreements ensure that the WTO through its secretariat is kept in loop in relation to the various measures introduced to promote free trade and additional various protectionery measures which may be introduced that are permissible by WTO provided certain conditions are met. Further, the various discussions and issues raised by the members are also brought in the public domain by the WTO so as to ensure that civil society could remain informed and ensure that government take stance which is in the interest of their people. Besides, the specific policies that are mentioned above, there are certain principles that all trading frameworks need to necessarily adhere to and are highlighted below (WTO, 2016a). Non Discrimination This particularly prescribes for two aspects namely the MFN (Most Favoured Nation) status and also the policy with regards to national treatment. As per the MFN clause, it is imperative that the members must not extend differential tariff structures and non-tariff barriers to other member states and thus should treat every trade partner as MFN thereby extending the lowest possible tariffs to the other states. National treatment policy implies no discrimination between the imported goods and those produced domestically which is usually demonstrated by erection of non-tariff barriers. Reciprocity This implies that concessions must be mutual and not unilateral particularly with regards to MFN status. The basic belief that drives this is that negotiations based on mutual reciprocity result in higher gains for the parties involved. Enforceable Commitments The accession of any nation to any WTO agreement would imply that these commitments made should be upheld and any adverse variation in the same should be with the permission of the trading partner(s) adversely impacted or else a dispute may be raised by the party being adversely impacted. Transparency The members should maintain transparency with regards to trade policies pursued and any alterations in the same should be notified to the WTO in a prompt manner. Besides, members can also request information regarding trade. Further, the WTO releases country specific reports which highlight a review of the underlying trade policies. Safety valves In order to safeguard the national interest, the WTO does provided exception to the MFN and other principles but it is imperative that these must be utilised only in a considerate manner and if these are used for offering protectionism to the domestic industry, then the other member state being adversely impacted can raise a dispute. Winners Losers From the above discussion, it is apparent that the main focus of the WTO is developing and LCD nations which are the ones that prior to accession to WTO had considerable barriers to trade. The examples of two countries that have emerged as winners from WTO are highlighted below. China China is one country which has immensely benefitted from the accession to the WTO which is apparent from the average growth of 9% pa which it has clocked from 2001-2011 (Lai, Riezman Wang, 2016). The accession to WTO for China in 2001 came with a host of condition which required it to lower the tariffs on the various imports and thereby allow for the economy to be more open. Further, the vast Chinese consumers were thrown open to the presence of foreign businesses which could directly serve domestic clients now. Besides, the tariff barriers related to industrial products (35% to 17% in five years), agricultural products (31.5% to 14.5% by 2004) were required to be slashed which ensured that foreign products became more competitive in the Chinese economy as the domestic businesses would be subject to competition (Chow, 2001). Due to increased competition in the short term, the domestic business had some adverse impact and this is the long term led to the closure of the inefficient businesses while the businesses that could cope up with the increased presence of foreign businesses became more efficient and thus has proved incremental for the Chinese economy in the long term as it has established itself as the manufacturing hub of the world. Further, since the accession to the WTO, China has emerged as being one of the favourite destinations of FDI for the foreign investors due to large size of the domestic consumers (Yong, 2011). As a result of these, China has enhanced its stature from being the fourth largest trading nation in the world in 2001 to being the largest trading nation in the world in 2015. It is apparent that accession to the WTO has proved immensely favourable for the country to enhance its inefficiency in wake of competition which has improved the competitiveness of Chinese exports. Further , as imports have become cheaper, the local producers tend to use the available resources in the most efficient manner by focusing only on the activities that their competency lies in. Additionally, by opening up the economy to foreign businesses, the economy has been able to woo advanced foreign technology which then has been adopted by the Chinese manufacturers to improve their processes. Besides, the presence of foreign businesses and larger integration with the global economy has also initiated (Lai, Riezman Wang, 2016). Also, the increased integration of the economy and presence of foreign businesses had improved the political and legal institutions which have ensured ease of doing business in the interest of the economy. This further has also reaped gained for the domestic businesses as compliance costs have decreased and also the government support to local businesses has gradually decreased which have enhanced the ease of doing business and also the competitiveness of the e conomy (Lewis, 2011). India Another country that has gained immensely from the joining of WTO is India which was one of the founder members. The membership of WTO came in the backdrop of the economic reforms that were initiated in the country in 1991 which focused on privatisation, liberalisation and globalisation. The WTO policies enabled the country to accelerate these reforms as the protectionism offered to industry further ended and thus, gradually the focus shifted to enhancing the overall efficiency (Misra Puri, 2002). As in case of China, India also had to reduce tariff barriers which enhanced the presence of foreign players in various sectors and also enhanced the FDI inflows in the country from the developed nations. Further, in regards to the Doha Declaration in 2001 and its subsequent negotiation, India has collaborated with other developing nations such as Brazil, China so as to draw attention on the high subsidies that the developed countries continue to provide to their farmers which fuels the competency of these products. As a result, India has been able to secure the interest of its farmers at the WTO platform (Ray Sabyasachi, 2009). Additionally, recently at the WTO, with regards to the food subsidies that it offers under the MSP (Minimum Support Price), it was able to gain an exemption with the support of other nations especially the LDC. However, the major gains that India have been reaped by India from the WTO have been in the form of increased exports of services especially software, BPO, KPO. With the reduction of barriers to services export, the country today has emerged as the leading exporter of software in the world primarily due to the easy availability of skilled manpower whic h augers well for the developed nations clients as cost saving is reaped. This unprecedented growth in the services sector has been largely responsible for the high GDP growth rate as the contribution of the service sector to Indias GDP has continuously increased and caused a shift from agriculture to the services sector (Mukherjee, nd). Besides, through the implementation of TRIPS (Trade Related Intellectual Property Rights), the patent regime in the country has drastically improved while ensuring that the interest of the generic drug manufacturers in India is not hurt as a result of which India today is the largest manufacturer of generic drugs in the world. Besides, there are safeguards such as compulsory licensing that have been used by the government in a prudent manner so as to safeguard the national interest and providing affordable drugs to the people. Also, through mechanisms such as Geographic Indication, the traditional knowledge is being safeguarded and also gained visibility in the foreign countries which augers well for the continuation of these (Lewis, 2011). An industry which has further gained from the WTO regime is the textile industry as the Indian exporters gained better access to the importing nations as the quota system was abolished under the Multi Fibre Agreement (Gupta, 2005). This has been i mmensely beneficial for the trade in clothing and textile which witnessed a double digit growth from 2005 onwards before this was adversely impacted by the global financial crisis. Additionally, the financial services sector has also seen high growth coupled with investment in the form of FII (Foreign Institutional Investors) in the Indian stock markets. This has led to greater integration of the Indian economy with the global economy and simultaneously had led to increasing demand for reduction of inefficiencies with relation to inflexible and complex tax structure coupled with red-tapism and corruption in the system (Guru, nd). Conclusion From the above, it is apparent that liberalisation of trade has significant long term gains for the economy in terms of efficiency and better utilisation of the scarce resources. In this regards, WTO was formed from GATT in 1995 and played a pivotal role even though it has not closed a single multilateral trade treaty due to differences between the developed and the developing nations. However, consideration needs to be given to the objectives of the WTO which aim to enhance trade liberalisation by the removal of various tariff and non-tariff barriers (Lewis, 2011). Further, WTO aims to provide an appropriate platform where the rules of global trade could be forged through multilateral negotiation and in this regards various discussions have been held over the last two decades which has let to incremental progress with regards to accepted principle. Additionally, with regards to the various objectives, the WTO also has policies in place which outlines the principles of trading framew orks that must be framed by member countries. These principles ensure that trade barriers are minimised and differentiation between trading partners is reduced through MFN status while ensuring that any negotiation must be carried out on a mutually reciprocal basis. Additionally, it also emphasises on transparency besides providing safety values to the members for safeguarding their valid interests. Through the example of India and China which are the two largest developing countries, the gains of WTO are apparent as these companies over the last decade or so have emerged as winners as they have opened up their economy to competition from foreign players. As a result, the efficiency of the domestic players has also improved and the quantity of trade has enhanced. Further, due to relaxed entry norms for the foreign players, there has been an improvement in the ease of doing business which augers well for the economic development of the nations. References Chow, GC 2001, THE IMPACT OF JOINING WTO ON CHINAS ECONOMIC, LEGAL AND POLICAL INSTITUTIONS, Princeton University, Available online from https://www.princeton.edu/~gchow/WTO.pdf (Accessed on October 4, 2016) Cooper, C Gupta, S 2008, WTO deal: India stands to gain, but has its own reservations, Livemint, Available online from https://www.livemint.com/Politics/OQsh8DlAxZNymjoS8XgiDM/WTO-deal-India-stands-to-gain-but-has-its-own-reservations.html (Accessed on October 4, 2016) Gupta, M 2005, Fair gains for India at WTO, Business Standard, Available online from https://www.business-standard.com/article/economy-policy/fair-gains-for-india-at-wto-105121901076_1.html (Accessed on October 4, 2016) Guru, S nd, The Gains India has achieved by Joining WTO, Your Article Library, Available online from https://www.yourarticlelibrary.com/economics/the-gains-india-has-achieved-by-joining-wto/38227/ (Accessed on October 4, 2016) Hoekman, B, Mattoo, A English, P 2002, Development, Trade and the WTO- A Handbook, World Bank, Washington DC Lai, TW, Riezman, R Wang, P 2016, China's Gains from WTO Accession: Imports vs Exports, Review of International Economics, Vol.24, No.4, pp. 837-856 Lewis, MK 2011, WTO WINNERS AND LOSERS: THE TRADE AND DEVELOPMENT DISCONNECT, GeorgeTown Journal of International Law, Vol.1, No.2, pp. 165-195 Misra, SK Puri, VK 2002, Indian Economy, 3rd eds., Himalaya Publishing House, Mumbai Mukherjee, S nd, Learn about Indias Role and Gain from WTO Talks, Economic Discussion, Available online from https://www.economicsdiscussion.net/world-trade-organisation/india-world-trade-organisation/learn-about-indias-role-and-gain-from-wto-talks/10953 (Accessed on October 4, 2016) Ray, AS Sabyasachi, S 2009, INDIAS STANCE AT THE WTO: SHIFTING COORDINATES, UNALTERED PARADIGM, Jawaharlal Nehru University, Available online from https://www.jnu.ac.in/SIS/CITD/DiscussionPapers/WTO.pdf (Accessed on October 4, 2016) WTO 2016a, Principles of the trading system, World Trade Organisation, Available online from https://www.wto.org/english/thewto_e/whatis_e/tif_e/fact2_e.htm#seebox (Accessed on October 4, 2016) WTO 2016b, Special Policies, World Trade Organisation, Available online from https://www.wto.org/english/thewto_e/whatis_e/tif_e/org5_e.htm (Accessed on October 4, 2016) Yong, W 2011, How WTO Accession Has Changed China and the Road Forward, CIGI Website, Available online from https://www.cigionline.org/publications/2011/5/how-wto-accession-has-changed-china-and-road-forward (Accessed on October 4, 2016)

The Assembly Line Essays - Business, Transport, Private Transport

The Assembly Line The topic selected involves Henry Ford along with his improvement to the human way of life. The improvement that I refer to is the introduction of the assembly production line. It was the invention of the assembly line that gave people of today the luxuries they have. The subject of Ford and the assembly line intrigues me because I have a fascination for history. For me, history is a part of all of us, who we are, where we have been, and where we are going. Unfortunately I have no prior knowledge of the subject but hope to learn about the way the assembly line changed production forever. In the early 1900's the automobiles that were built took a long time to complete. The process that was used was very time consuming. Completion took several hours and workers were paid very little. When Ford introduced the assembly line his workers produced an automobile every couple of minutes rather than hours. With the high rate of production he lowered the price of his vehicles. The increased sales meant he paid his employees more per day and offered benefits. A few benefits Ford offered were health insurance, a higher salary than the competition, and even a five-day workweek. With all the extra incentives Ford gave, he still climbed to success. Maybe it was the fact that an automobile could be bought for the low price of only $850.00 rather than the competitions automobiles for $5000.00. The assembly line of today consists of a motor driven belt system and a lot of machines. With all the parts moving to the workers, production goes very quickly. Each employee has a specific job. So basically, one person would put a tire on, then the next person in line would install the lug nuts to hold the wheel in place. A sources I have found very useful has been a periodical from Forbes Magazine. Another useful source has been the Internet. I found a site that is from the Henry Ford Museum in Detroit, Michigan. Another site I found is from Massachusetts Institute of Technology, MIT. It focuses more on the assembly line rather than Ford himself. The encyclopedia from Compton's Interactive CD-ROM focuses on Ford and the assembly line rather than singling one out. Yet even another site focuses on the history of the city of Detroit. Future sources will include a few more Internet sites as well as a book that I have not found yet. I hope that more research will lead me in the right direction in finding the book that will benefit this research the most. Conclusions that I hope to make with this research are that Ford did indeed revolutionize production and life. Also with this project I hope to understand a little bit more of what the world really does owe the man that has helped us all, Henry Ford. History Essays