Sports Essays Table Tennis China

Sports Essays Table Tennis China Like many other sports, table tennis began as a mild social diversion. Descending from lawn tennis to badminton to the  ancient medieval game of tennis. Table Tennis likely began as a social hobby in England toward the end of the 1800s. These early pioneers may have referred to their sport as gossima, flim-flam, or ping-pong. The game became a huge fun event after the name Ping-Pong, the noise made by the ball striking the table, was introduced by J. Jacques Son. It became very popular in England under its present name â€Å"Ping-Pong.† (Hickok) By the early years of this century, Ping-Pong had already acquired some of its present day complexities, but it was still used by many as an after-dinner amusement game rather than a sport. Dining-room tables made up some of the early equipment that was used. Several different every-day objects were used to play the sport. They used a line of books as the net; rackets were lids from empty cigar boxes, and then a little later, parchment paper stretched around a frame created a paddle. The ball would be either a ball of string, or perhaps more commonly, a champagne cork or rubber ball. The game underwent a few changes in England in the next few years. One person introduced a celluloid ball to the game, while another added pimpled rubber to the wooden paddle. These additions were used by many and advanced on by others. Some box sets can still be bought from Milton Bradley. (Bradley) The game was very popular in Central Europe in 1905 to 1910, but even this was a modified version that was introduced to Japan, where it later spread to China and Korea to become a huge popular sport in these countries. (Museum) The Japanese dominated the sport for much of the 50s and 60s. But in the 60s and 70s, the Chinese soon caught up with the Japanese. China alone has dominated the sport for much of the time since then, especially after Table Tennis became an Olympic event in the 1980s. For a reason unknown, the Chinese took table tennis as their national sport. And most other countries cant really touch them in skill. Alone from China four of the top ten from both male and female live here including number one. Now other nations such as Sweden and South Korea have joined the top ranks. For a while in Europe, it lost its fun and became very unpopular to play. Then in the early twenties, it regained its popularity and became a sport. In 1926 the International Table Tennis Federation, ITTF, was formed. By that time it had adopted its new name of Ping-Pong, while also being called table tennis. It started to become so popular that organizations and federations developed and rules and regulations were made. (Museum) Over the next sixty years, table tennis developed into a major worldwide sport. Today it is said that a rough 30 thousand people play competitively, and another million to 2 million play in household rooms and garages. Although it has became faster and harder to play, the game itself has not lost its â€Å"gentlemans† sport aura. One major concern that the ITTF has always insured that table tennis remains a contest of human skills. Also, they are very concerned with technological developments, which add a new factor to the game like the spin and speed of a paddle or bat, do not give too great an advantage to the players who get to use these developments. Therefore, equipment specifications are carefully laid down, and rigorously enforced. (Museum) Other changes like lowering of a net, is a big rule that shouldnt be broken. Rules preventing excessive advantage being gained by the server-were introduced in the thirties, and only minor changes are made from time to time. Changes to the rules of the sport can only be made only at the ITTFs Biennial General Meeting. These changes are never made without the agreement of a substantial majority of the hundred members in Associations represented at the BGM. In this vote everyone is equal. This is kind of like the UN Security Council too, if they want to veto a rule or movement, just one person can stop the rule or movement. Modern table tennis at a high rank is as rigorous as any sport in its demands for the highest degree of physical fitness and mental concentration. Very physical and arduous training to develop natural skills for the sport usually attains this. Fred Perry in 1928-29 became the World Mens Singles Table Tennis Champion, and then in the following years he became a champion at Wimbledon. Many say he moved to the tennis court because his reactions got slower. But it is certainly true that no other sport requires faster reactions and more delicate muscular co-ordination than ping-pong. (Museum) According to a PBS article: One of the first public hints of improved U.S.-China relations came on April 6, 1971. This happened when the American Ping-Pong team in Japan for the 31st World Table Tennis Championship, received a surprise invitation from their Chinese colleagues for an all-expense paid visit to the Peoples Republic. Time magazine called it The ping heard round the world. On April 10, nine players, four officials, and two spouses stepped across a bridge from Hong Kong to the Chinese mainland, ushering in an era of Ping-Pong diplomacy. They were the first group of Americans allowed into China since the Communist takeover in 1949.(Dean) In table tennis there are very many different strokes, different swings, and different stances. I, myself as a ping-pong player, use the shake-hand grip. I use this grip for very many reasons. One reason would have to be that it feels the most comfortable to me. It feels way more natural and comfortable rather than the pen-hold grip. I have a lot more speed and control when I hit a hard move or hit. Another reason is because if someone hits the ball really fast back to me, then I am ready and I can hit back a very fast stroke back. In this style I can hit a backhand or forehand as fast as my body will let me. Also when I use this grip I can hit the ball to any spot on the table. When I use the pen-hold grip, I cant usually hit the ball where I want to. In table tennis, professionals play with either the shake-hand grip or the pen-hold grip. I myself use this grip. I have more control and more speed when I use this style. The shake-hand grip is appropriately named because you hold the paddle as if you were shaking someones hand, with your index finger extending over the bottom part of the rubber on the backhand side and your thumb slightly touching the rubber on the forehand side. (Bradley, Milton) The pen-hold grip is also appropriately named because you hold the paddle just like a pen, only grasping the paddle at the top of the handle. Because of this, people that use this grip get a paddle with a more comfortable handle to use this grip. The wrist flick is almost always done from the backhand side. The opponent usually does it to return a serve or to return a ball hit very short and low. (Bradley) The counter is used against topspin balls, which you have no time to loop. This stroke requires very little forward arm motion, but it is extremely important that you angle and position your paddle correctly. If it is hard topspin, you must angle your paddle downward, so the ball is forced not to pop up when you hit it. If it is soft topspin, do angle your paddle so its nearly facing the opponent. If hitting either a backhand or a forehand, the paddle should only move forward about a foot during the complete shot. (Bradley) All in all, ping-pong has a long history of ups and downs. It started in the end of the 1800s and has since then become very popular. From all countries there have been many people that have played their way to the top of ping-pong history. There are a lot of different strokes and spin moves in the game of ping-pong. There are two main grips, pen-hold grip and shake-hold grip which are used in all games of ping-pong. Works Cited: Deen, Alfred. History of Table Tennis. PongWorld. 2000. PongWorld. 31 Jan 2008 . Hickok, Ralph. Table Tennis. Hickok Sports.com. Monday, 17-Dec-2007 11:26:23. Hickok Sports. 4 Feb 2008 . International Table Tennis Federation museum, The History of Table Tennis. Robbins Table Tennis Specialties. 2007. Robbins Table Tennis Specialties, Inc.. 31 Jan 2008 http://www.robbinstabletennis.com/history.htm ITTF Museum. A Comprehensive History of Table Tennis. ITTF Museum. ITTF Museum. 4 Feb 2008 . Milton Bradley, The History of Table Tennis. Table Tennis History. Fortune City. 4 Feb 2008 . Willcox, Isobel. Acrobats Ping~Pong. 13438. New York: Dodd, mead Company, 1981.

Propaganda And Its Uses By Countries, Especially During War Essay

Propaganda and Its Uses By Countries, Especially During War In order to gain the support of the public, countries use propaganda. During the Gulf War, Saddam Hussein and George Bush used propaganda to gain the support of their respective public. Propaganda was everywhere. It was on the radio and television and it brought the war into millions of homes. Propaganda was a vital part of the Gulf War because it provided the US and Iraq with the support of their public. Propaganda is always geared towards the populace claiming that the other country is the oppressor. The truth is often stretched or even fabricated to garner a public outcry for justice. The real truth, however, is very difficult to distinguish from fiction.   Ã‚  Ã‚  Ã‚  Ã‚  The blame is often pushed to towards the other country. Iraq claimed that they were the victims and that the United States was the aggressor. Hussein declared that they had been victimized by Kuwait. According to Iraq, they had to pay back money that they did not have and Kuwait was responsible for the cutback on healthcare and other vital services. Since Kuwait voted against raising the price of oil, Iraq was unable to receive any revenue. It was because of this that Iraq invaded Kuwait. The United States claimed that Iraq was the aggressor. In the American media, Iraqi tanks were shown to enter a defenseless Kuwait amidst destroyed buildings. The American public was convinced that their troops were only there to protect and that...

Essay --

Competency-based Selection James Thomas University of Maryland University College HRMD 630 Turnitin The term competency is defined in different manner depending on the context of the business. It is used for the ability, competence, skills, and strengths of employees. HR department can assess the competencies of employees in various aspects of current and future role and design HR interventions keeping in mind the core business of the organizations. It may promote self-assessment, peer assessment, and assessment by experts for achieving HR goals of the organization. The human resources management is considered to be a key to manage the core business of the organizations and competency framework is the frame of HR process. HR professionals with a strategic performance management competency are well positioned to facilitate the pace and extent of change in their organizations. According to SHRM, HR systems can be impediments or enablers of rapid organizational change, but HR professionals with this competency will at least understand the business case for HR. Competency and career management has assumed greater importance in the present day companies. It is one of those toughest functions that HR managers handle. This is tough because HR manager are responsible for two conflicting functions. Organizational structures and downsizing of manpower on one side and ensuring career opportunities to the employees on the other side The purpose of selection is to match people to work. It is the most important element in any organization’s management of people simply because it is not possible to optimize the effectiveness of human resources, by whatever method, if there is a less than adequate match. One o... ...a interview. The process of competency based selection and recruitment involves job anylysis, interviewing, testing and selecting the applicant. In the event that an interviewer is unfamiliar with the job opening, out of date job description in unavailable or documentations is needed for the interview process, a job analysis can be conducted. The importance of job analysis in employment interviewing has long been recognized from the standpoint of Human Resources Management. (EEOC, 1978) state there is a legal basis to job analysis. The EEOC require that job analysis be performed as part of the development, application and validation of employee selections procedures. Job analysis should be conducted prior to the applicant interview. Information from the job analysis such as the job description should be used to develop interview question and a scale for rating.

A Comparison of Repression in The Crucible and Black Ice Essay

The Crucible and Black Ice – Repression Within the small and somber courtroom, wandering eyes search for their victims; fingers of vengeance fly at the innocent with sufficient speed to free themselves of the accusations. Hear the anguishing voices of the dead, feel the fury of the falsely accused, see the pain of the convicted, smell the scent of a paradox authority, and taste the bitterness of societal repression. John Proctor devotes himself to saving his wife and bringing justice to the backward court that rises in his society. The authority makes efforts to repress his outspokenness with questions meant to steer him towards admitting to immoral deeds. Pressure builds on him as he becomes accused and forces him to live a life-threatening test. Similarly, Libby is given the challenge to succeed in the white dominating society while not betraying her own culture. Feeling repressed by teachers and students because of her color, she is torn between the decision to adopt the white world and fit in, or struggle to maintain her identity but at the same time, succeeding. In The Crucible by Arthur Miller and Black Ice by Lorene Cary, societal repression unfolds to be a troubling situation for them, however with their promising traits, they carry on towards their goal without hesitation. To start off, a comparison between the two protagonists would be their determination and ambition. After Proctor's wife is arrested, he confidently states that "my wife will never die for me! I will bring your guts into your mouth but that goodness will not die for me" (Miller 76). To reach his goal, Proctor vows to surpass any o... ...to die rather than succumb to the falseness of the authority. John Proctor is dead, but he is buried with the honor regained from trading in his life. With determination, strong-values and independence, Proctor makes his voice heard and does not succumb to the unjust authority, and because of that, he grasps in his hand the triumph of overcoming societal repression. As for Libby, she finally understands she does not have to be repressed to succeed in the white world, but instead, she can balance both her identities. She will take advantage of the privilege she is offered in the white world while she can easily slip back into her back skin at other times. So Libby overcomes societal repression as well with ambition, strong-values and fickleness, allowing her to at last skate on the black ice she has heard so much about.

Challange Faced by University Students Essay

Education is the most important aspect of learning for every generation established in every mode. In university there are different field of studies with different years of each program. It is obvious that new students are going to face further challenges in university. In this case, these challenges could be the burden which can pull them out of the school without completing their studies. This essay will discuss these challenges in condition of financial, social, and academic. To begin with, financial problems are a major challenge for university students includes tuition fee, rent expenses, and text books. Tuition fee is the most common challenge for these students. Though, for some they only take one or two units per semester because of financial problems. The high costs of fee causes many problems for those who are not sponsored. Besides, fee expenses for each semester cost of thousands of dollars. So, tuition fee is a great burden for the unsponsored students. Furthermore, text books are the most essential property students must have in university. First year students also suffered in buying text books regarding to financial problem. Those who are not sponsored are suffered the most on the high cost of these books. Another challenge is that some of them have not enough money in a pocket. But in this case, such challenges can create lot of troubles in their minds throughout their time in the university. Moreover, rent is also a challenge for these students. These students might live in different hostels where some are cheap but isolated from the campus, and some are nearby the campus but expensive. It is better to live nearby the campus for new students to avoid troubles. However, they have problem with monthly rent where it is expensive but must be cleared. Another reason is based on a small amount of their allowance which cannot meet their expenses on rent and others. However, these financial challenges make them concern the most. Another major†¦ [continues]. Read full essay

Iraq War Essay

The Iraq war is also known as the Occupation of Iraq and it started on 20th March 2003, the war was spearheaded by the United States of America which was also backed by the U. K. There were other countries that had small forces in the invasion but they did not have many troops as compared to the US and the Britain, these countries included Australia, Poland, Denmark and Spain. This invasion marked the beginning of the current Iraq war. The major reason for the invasion was to end the Saddam regime which was believed to be supporting terrorist activities, it was also aimed at disarming Iraq which was said to be in possession of weapons of mass destruction and the last reason for the invasion was to free the people of Iraq from the dictatorship of Saddam (Allen, Mike and Juliet, 2002). The trigger of the war is said to have been the failure of Iraq to disarm itself of the biological, chemical and nuclear weapons that the US and its allies said were a threat to the world peace. Some of the traditional allies of the United States opposed the war and argued that there was no evidence of weapons of mass destruction in Iraq; some of these countries were Germany, France and Canada. The invasion started with an air strike at the Presidential palace which was later followed by attacks on the southern side of Iraq. The coalition forces operated from a point near the Kuwait-Iraq border. The Iraq war is said to have caused very many protests all over the world with the largest protest in Rome where more than three million people protested against the war. The United States-Turkish relationship was greatly affected by what preceded the aftermath of the war on Iraq. For the last Fifty years there has been a very good Turkish-American partnership which can be seen in the efforts that the two countries have made in Korea, Kosovo and Bosnia. In the year 1999 when President Clinton visited Turkey after an earthquake he described their relationship as a very strategic partnership and there was a lot of support fir the partnership between the two nations. The strong partnership began to deteriorate in March 2003 when the US was almost attacking Iraq. The effect of this was felt when the Turkish parliament rejected the request by the US to allow the US troops to go through Turkey just before the war started. Most people in Turkey were against the war with 95% of the whole population being against the war and this forced the government to reject the US request although it was seen as a loss to the Turkish government as it lost a lot of grants and loans that would have come with the agreement. Although the Turkey government wants to renew the relationship with the United States there is a feeling that the instability that was caused by the war on the Turkish border with the Northern Iraq has caused a lot of damage to the Turkish tourism industry. The Iraq war caused the relationship that existed between the US and the Turkish government to be highly affected. The US sees Turkey as a very important country because it is a country with a makority of Muslims but it has exercised a successful democracy, Turkey is also a link between the Central Asia and the Europe in matters relating to energy and Turkey has also played a major part as a broker in the Middle East. The effort of the US government to encourage the Turkish government to form good relations with the Iraqis was greatly affected after the war due to the instability that exists in the Northern Iraq region. The Iraq war also led to an alarming increase in the anti-American slogans among the Turks because of the instability in Turkey that was as a result of the Iraq war. The Iraq war resulted in a lot of strain between the Turkish government and the US but this can be put on hold by the US allowing Turkey to perform a Major role in the reconstruction of Iraq. The other area that was greatly affected by the war is the education sector in Turkey, students from Turkey no longer wants to socialize with the Americans and the Europeans after the war (Council on foreign relations, 2003). The other major effect of the war in Iraq is that it created fear in the Arab countries and most of these countries no longer trust the US or the UK. Most of the Arab countries felt that Iraq was only the first country in what they referred to as the domino effect of democracy and they believe that with the successful introduction of democracy in Iraq there will be more attacks in the Middle East with the aim of installing democracy. This has caused the Arab countries to live in fear of attacks from the US and the UK and therefore they end up arming themselves and at the same time carrying out jihads. The war has also created very high sensitivity in Iran about the regional involvement of the U. S in the country and they believe that those people in the Islamic republic are surrounded by a number of countries which are allies to the U. S and this has caused a lot of fear to the people in the Arab countries. The other major effect that the war has had is that it has led to the collapse of the strong relationship that existed between the United States and the U. K and Syria. This has been attributed to the fact that it is feared that Iraq transferred its weapons of mass destruction to Syria when it was about to be attacked by the coalition forces, this has resulted to a lot of tension in Syria for the fear that the country may be attacked by the coalition forces in search of the weapons of mass destruction. The other major effect of the war on Iraq has been in Saudi Arabia, there have been fears of a military attack against Saudi Arabia and also the increased pressure from the United States of America on Saudi Arabia to collaborate in the war against terrorism. The Saudi-U. S relations have been less than ideal in the current days and this made the Saudis think that the Bush administration was using its military force in Iraq so as to influence something from the Saudis. There has been a great deal of uncertainty in the Arab countries with the people thinking that because of the success of the military action on Iraq the United States and its allies may use the same on most of the Arab countries. The other major effect of the war was that there were increased cases of terrorism activities in the U.  S and the U. K when the war against Iraq was declared, this was because the Arab countries were opposed to the war and because they could not convince the U. S and the U. K not to attack Iraq they opted for terrorist activities. The attack against Iraq was also aimed at bringing out the link between the 9/11 bombing in U. S and the Saddam regime but this was not evident and therefore most of the Iraqis felt that the attack was simply to impose a government that was created by the United States and its allies. Baghdad and Damascus are towns in Iraq that are filled with terrorists of the old days but there was no evidence to link these people to the 9/11 bombing in U. S. and this clearly indicated that those who lost their lives in Iraq during the war were not the terrorists responsible for the 9/11 attacks (Leslie, 2004). Muslims all over the world had at first opposed the attack by Al Qaeda on U. S, but this was then reversed when the U. S attacked Iraq and triggered more chaos from the Arab communities. As a result of the war on Iraq moderate Muslims began to support anyone who is out to defend the Muslim land and the values of the Islam religion against any group of people aimed at crashing the Muslims. Due to this the relationship that was there especially in Iraq and Palestine between the U. S and the U. K and the Muslims was greatly affected as the Muslims thought that the U. S and the U. K were out to bring to an end their religion. The war in Iraq has resulted in more bitterness and instability in Iraq as more young Muslims are coming up with a form of jihad that is more volatile than it used to be in the past. The American policy makers have very little appreciation on how their military actions in Iraq, Lebanon and Afghanistan is causing a lot of radicals in the Muslims opinions and also creating very many radical groups that are aimed at fighting for the sake of their faith. This has caused a very poor perception of the citizens of the Arab countries in that they are seen as terrorists just because of being an Arab. The relationship between students from Arab countries and those from the United States or the U. K has also been affected by this perception (Fawaz, 2006). The civil unrest that was experienced in Iraq had very major effects on the relation of the U. S and U. K and the neighbouring countries of Iraq. The problems that the neighbours of Iraq are facing will continue even with a steady improvement of the situation in Iraq and the situation would be worse if the situation in Iraq deteriorates. The most dangerous effect of the Iraq war would be due to sectarian and ethnic conflicts in Iraq. The sectarian hatred that may arise in Iraq will lead to civil unrest in Iraq and this would also affect the countries that are neighbouring Iraq. These countries would then in turn blame the U. S and its allies because they caused the war in Iraq. The Iraq people and its allies felt that they would not be welcomed in the United States in case they face any disasters in their countries and this also broke the relationship that was there between the Arab countries and the United States. This can be seen during the war because those Iraqis that were affected by the war were put in refugee camps and treated in a very inhuman way. The other major effect of the war on the relation of the Arab and the U. S and U. K was that there were reduced tourism activities between these nations for the fear of terrorism (Andrew, 2008). The war against Iraq also had an effect on the global terrorism and contrary to what George Bush and Tony Blair argued it is evident that the war brought about increased global terrorism. This is evident in that the number of people killed in jihad attacks has increased steadily from the time when the Iraq war started. The Iraq war is also seen to have caused an increase in the spread of the Al Qaeda activities in the Arab countries with the reason that they are out to fight for the Muslims all over the world. The increase in the Al Qaeda activities has caused a lot of insecurity in most of the Arab countries and this is attributed to the war against Iraq and therefore the Arabs find the U. S and the U. K as countries that are out to cause more problems in their countries (Kim and Patrick, 2007). When asked for the reasons for the U.  S attack against Iraq most of the citizens of the Arab nations like Egypt, United Arab Emirates and Jordan give three most common answers. Of these most of the Arabs think that the United States was out to acquire oil reserves in Iraq and protect Israel, but the most astonishing answer given by citizens in the Arab nations is that they were out to weaken the Muslim community. This has led to break down of the relationship that existed between the Arab nations and the U. S and U. K. as the Arabs see the U. S and the U.  K as people who are out to weaken them. The broad perception of the U. S military attack against the Muslim world is that there has been a collapse in the confidence that the Arab nations had on the United States and the U. K. Before the failure of the U. S backed peace talks between Israel and Palestine in 2000 that were mediated by President Clinton, around 60% of the people interviewed in Saudi said that they had confidence in the United States but this ceased with the attack by United States against Iraq in 2003. Lack of trust in the U. S and the U.  K meant that there would be no negotiations that were headed by the two countries in the Arab countries because without trust negotiation does not make any sense at all. The other factor that led to the failure of the relation between the Arab nations and the United States is because of the insistence of the Bush administration on democracy in the Arab nations. They argued that instilling democracy in the Arab nations would greatly increase security in the world, but this was not the case because after the formation of a democratic government in Iraq there have been increased attacks in Iraq by jihads (Kevin, 2005). The war against Iraq also brought about some economic and emotional effects in the Arab nations. The Arab nations felt that they had the responsibility of supporting their fellow Muslims who were suffering in Iraq and therefore they dedicated a lot of resources to the Iraqis, was it not for the war that had been sparked by the United States and the U. K the Arab nations argue that they would have used these resources for their own developments. The Arabs also feel that they were weakened by the war on Iraq in that America took control of the oil wells in Iraq indicating that the Americans were not aimed at imposing a democratic system of government in Iraq but they were out to capture the oil wells in Iraq (Bruno, 2007). In the past five years four and a half million people have left Iraq as refugees, this has therefore put a lot of pressure on the neighbouring countries in that they have to care for the refugees. The neighbouring countries to Iraq have therefore broken the strong relationship that they had with the United States and the U.  K because they term them as the major cause of the problem they are currently facing. Security in the countries around Iraq has also deteriorated due to the fact that terrorists are heading to the neighbouring countries from where they launch their attacks claiming to be fighting for the Muslim religion. The Arab nations feel that the war against Iraq has led to congestion in the Iraq hospitals due to the many casualties that have to be treated in the hospitals and at the same time the hospitals lack qualified personnel and equipments to treat all the casualties. This has made the United States and the U.  K be seen as very inhuman hence collapse of the relation between them and the Arab nations (Robert, 2005). The other major decline in the relations between Arabs and U. S and U. K can be seen in the area of trade. After the war on Iraq was declared the Arab nations reduced their trade with the two major countries that spearheaded the war. This caused a rise in the price of oil which is the major product of the Arab nations. The Arabs also felt that the war on Iraq caused an increase in the Cross border terrorism due to the large number of refugees who flew the war torn Iraq. These acts of terrorism that the neighbouring countries suffered from made them lose the trust they had on the Americans and the people of U. K. There was also the issue of trans-national crime that came with the refugees from Iraq. Tourism activities were also greatly affected in the Arab countries because people from the U. S and the U. K feared travelling to Arab countries because of the increased acts of terrorism that had hit the whole world. The Arabs also developed a very bad perception for the Americans and the people of U.  K; they viewed these people as oppressors of the Muslim community. This had a great effect in those U. S and U. K citizens that were living in Arab countries with some of them having to be forced to go back to their home countries due to fear of being attacked by jihads. The U. S and U. K relation with the Arab countries declined due to the war and this forced some of the U. S or U. K organizations that were based in the Arab countries to return back to their home countries. This shows that business ties between the Arabs and the U. S and U. K were declining.

Walmart and Target a Closer Look at Strategic Interaction

Main Paper Walmart and Target: A closer look at strategic interaction Maastricht University School of Business and Economics Maastricht, 4th December 2011 Bastian Hauk, BH ID number: i6034999 Study: International Business Course Code: EBC1009 Economics & Business Group Number: 31 Economics Tutor: Khan Writing Tutor: Hetty Bennink Writing Assignment: Main Paper Table of Contents Page 1. Introduction 2. Economic Principle: Game Theory 3. Applied Economic Principles 3. 1. Theory of Game for simultaneously Decision Making 3. 2. The extended Version for consecutive Decision Making 4. Conclusion References 4 6 7 8 2 2 1 Introduction In the United States of America there are only two very well-known discount retailers: Target and Walmart. Both are currently operating all over the country which places each of them among the biggest corporations in the United States. Nearly every American has been to at least one of them because they sell almost everything and E. Basker described this service â€Å"one-stop shopping† (2007). In 2007, Walmart operated more than 3,400 stores across the USA and a survey showed that by the end of 2005 46 percent of Americans lived within 5 miles of the nearest store; within 15 miles even 88 percent (Basker, 2007).Target operated 1,750 stores in January 2011 (Target Corp. , 2011). Since their wide range of products is quite similar they are large competitors. Thus, they are constantly waging price war against each other. In addition, they make use of strategic interaction and especially of game theory which is a mathematical model describing a decisionmaking process and showing how the players make different decisions that potentially affect each other’s interests (von Stenge, & Turocy, 2001). This paper analyses strategic interaction between Walmart and Target with respect to the game theory and the extended version.In order to do so it introduces first the theoretic background of strategic interaction. Afterwards it applies g ame theory and the extended version to this case in order to show the impact of strategic interaction on both discount retailers. It concludes by stating the importance of strategic interaction to optimal decision making and its relevance for Walmart and Target. 2 Economic principles: game theory and extended version The theory of games describes certain concepts in which several players influence each other’s decisions in situations of conflict and competition (Moffatt, 2011).In order to apply game theory there must be at least two players. The three basic elements of a game are the player, the strategies he can choose from and the payoffs the players receive from each combination of strategy. The payoff matrix describes the outcomes in a certain game for each possible combination of strategies as shown in Figure 2. 1. 2 Player One Strategy 1 Strategy 1 Outcome Player 1 Strategy 2 Outcome Player 1 Outcome Player Two Strategy 2 Player 2 Outcome Player 1 Outcome Player 2 Outco me Player 1 Outcome Player 2 Figure 2. 1: Payoff matrix for a two player game Outcome Player 2If one player used a dominant strategy, his choice yields a higher payoff, regardless what the other player does and as a result he has no incentive to change his strategy. For this example, player one’s dominant strategy would be strategy one if he received a higher outcome no matter which strategy player two chooses, but only if he then receives the highest payout. There are also some particular outcomes; for example the Nash equilibrium which occurs when any combination of strategies is the best strategy with the best possible outcome for all players (McDowell, Thom, Frank, & Bernanke, 009). An outcome created by two dominant strategies which is worse than the outcome created by two dominated strategies is called prisoner’s dilemma. The prisoner’s dilemma only occurs when each player’s dominant strategy results in a smaller payoff than it would have if they ha d chosen the dominated strategy. Game theory also assumes that the decisions are made simultaneously. To illustrate a game in which the players decide interdependent, the economist uses the extended version of game theory which is displayed with a game tree (McDowell, Thom, Frank, & Bernanke, 2009). Company 1 Decision: Action A or Action B Action A Company 2 Decision: Action C or Action D Action C Outcome 1 Outcome 2 Action D Action B Company 2 Decision: Action C or Action D Action C Outcome 3 Outcome 4 Action D Figure 2. 2: Decision tree Figure 2. 2 is an example of a game tree. Company 1 first decides which action they will take, which can be either A or B. Company 2 then has the choice how they want to react and whether they take action C or D. The best outcome can only be achieved with a backward nduction as a result of evaluating the results first and afterwards predicting the other player’s strategy. For example, outcome 3 would be the best outcome for company 2 if comp any 1 chose action B and therefore company 2 chooses action C. Outcome 2 would gain the highest profit for company 2 if company 1 took action A. 3 Applied Economic Principles 3. 1 Theory of game for simultaneously decision making As stated in the introduction this two very large American retailers are competitors and have a very similar customer base.The income of Targets customer base is slightly higher but it is not relevant for strategic interaction (Neuman, 2011). Theory of game helps to understand the different prices and how the different price strategies affect consumer behavior. This example is not based on any specific data. However, it is logic for somebody willing to buy a certain good to substitute the same good with an identical one if the price is lower and there are not any additional efforts to make. By applying game theory, the three basic elements have to be clear. 4 Walmart and Target are the players.Different pricing of a certain product -a television- are the st rategies while the different profits are the results of each combination of the strategies. Both companies have two pricing strategies: either to charge a low price of â‚ ¬300 or a high price of â‚ ¬500. They have to make the decision simultaneously, for instance before they release the television to the market. It is important to know that the customers are also willing to purchase the television for the high price. Target High Price (â‚ ¬500) High Price (â‚ ¬500) Walmart Walmart earns â‚ ¬10,000 profit Low Price (â‚ ¬300) Walmart earns â‚ ¬15,000 profit Figure 3. : Payoff matrix for Walmart and Target Figure 3. 1 shows a potential payoff matrix for this strategic interaction. It shows all possible outcomes for the two pricing strategies. Walmart and Target would both make â‚ ¬10,000 profit if they charged the high price and â‚ ¬7,500 profit if they charged the low price. If Walmart chose the low pricing strategy and Target used the high pricing strategy Walmart would gain â‚ ¬15,000 compared to the â‚ ¬5,000 profit Target would make. Target also makes â‚ ¬15,000 profit using the low price if Walmart decides to charge the high price.What does that mean for both companies? Since both of them would earn a higher profit by setting the price low in this scenario, both companies would choose â€Å"Low Price† as a dominant strategy. On the contrary, â€Å"High Price† would be the dominated strategy. Nash equilibrium can be found when both companies pick the â€Å"low price† strategy because they don’t have an incentive to change their strategy. This payoff 5 Low (â‚ ¬300) Target earns â‚ ¬15,000 profit Walmart earns â‚ ¬5,000 profit Target earns â‚ ¬7,500 profit Walmart earns â‚ ¬7,500 profitTarget earns â‚ ¬10,000 profit Target earns â‚ ¬5,000 profit matrix also shows that the strategy combination of â€Å"high price† and â€Å"high price† would be the best possible outcome for both firms. But rather than applying the dominated strategy Walmart and Target use the dominant strategy. This dilemma is called prisoner’s dilemma. Those dilemmas exist quite often and there are many reasons why they exist, for instance, both companies do not want the other one to make a higher profit or even to have the chance to receive a higher profit. 3. 2.The extended version for consecutive decision making Therefore Target and Walmart react and might change the strategy they had choosen. Both competitors often change their strategies. Although Singh (2006) stated that prices at Walmart are about 15 percent lower than in traditional supermarkets, Neuman (2011) proved by comparing almost 60 items that Target’s prices were a bit lower than Walmart’s. It is hard to rely on data which are released with a 5 year time difference but it shows that both firms constantly adjust the prices to be competitive.High Price Target High Price Walmart Low Price â‚ ¬10,000 for Target â‚ ¬10,000 for Walmart â‚ ¬15,000 for Target â‚ ¬5,000 for Walmart â‚ ¬5,000 for Target â‚ ¬15,000 for Walmart â‚ ¬7,500 for Target â‚ ¬7,500 for Walmart High Price Low Price Target Low Price Figure 3. 2: Decision Tree for Walmart and Target 6 Since the decisions of both companies are not made simultaneously the reacting firm -in this case Target- has to find out what action to take in order to receive the highest profit for either move Walmart makes. Walmart moves first and selects either strategy.Target is in the position to decide and how it wants to react. Thus, Target uses backward induction. First it evaluates the best results for each action Walmart uses; â‚ ¬15,000 profit if Walmart sets a high price and â‚ ¬7,500 profit if Walmart sets a low price. Afterwards it chooses the strategy how to get to that profit. Finally Walmart moves and selects the low or the high price strategy and Target is able to react sufficiently. Assu me that Walmart chooses the high price strategy then Target sets low prices and due to that Target earns the highest possible profit. Conclusion Walmart and Target are large competitors on the American retailer market and therefore strategic interaction is very important for them. Both companies know the ways to decide how to act concerning different strategies. Both companies know that it is necessary for them to react and choose the best strategy. In the first example both companies simultaneously introduce a television to the market. Their dominant strategy is to set a low price because both of them hope that the other company chooses the high price strategy.This is one example of a free market wherein the customers always choose the low price if available. Walmart and Target would earn a larger profit if both set the high price. In the other case Walmart moves first and afterwards Target chooses the strategy which leads to the highest outcome. The reacting company’s best strategy in the extended version of game theory is always the low price strategy. On the contrary, when two companies have to decide simultaneously it is not always the best choice to choose the low price strategy although it is their dominant strategy. References Basker, E. (2007). The Causes and Consequences of Wal-Mart’s Growth. The Journal of Economic Perspectives, 21 (3), 177-198. McDowell, M. , Thom, R. , Frank, R. , & Bernanke, B. (2009). Principles of Economics, 2nd European Edition. Maidenhead, UK: McGraw-Hill Education. Moffatt, M. (2008). What are Game Theory and Bargaining Theory? Retrieved December 4, 2011, from http://economics. about. com/cs/studentresources/f/game_theory. htm Neuman, S. (2011). Target Takes Aim At Walmart, With Some Success, NPR. Retrieved December 4, 2011, from http://www. pr. org/2011/08/19/139793948/target-takes-aim-at-walmartwith-some-success Singh, V. , Hansen, K. , & Blattberg, R. (2006). A Market Entry and Consumer Behavior: An investig ation of a Wal-Mart Supercenter. Marketing Science, 25 (5), 457-476 Target Corp. (2011). Target Annual Report 2010. Minnesota, US: Target. Retrieved December 7, 2011 from http://www. sec. gov/Archives/edgar/data/27419/000104746911002032/a2201861z10k. htm#bg11101a_main_toc Turocy, T. L, von Stenge, B (2001). Game Theory. Academic Press Limited, 2 (2), 69-73. 10. 1080/07430170152379371 doi: 8