Value Chain Analysis

value chain analysis Inbound Logistics Operations Marketing Service Outbound Logistics SAP , VCM SAP , CRM – DMS Strategic Alliances Transporters, Convoy Drivers Association Dealer Network, Marketing Research Firms, Vehicle Financing Regional Warehouses, Dealer Workshops, Distributors, TASS 9 Value Chain Analysis: Tata Motors Inbound Logistics Long term contract with service provider’s – transporters and agents Personnel at regional offices for over seeing the smooth transit of goods Transparency and monitoring through deployment of IT – all transactions through SAP DTL supplies for critical high value items. Efficient storage facilities – easy storage and retrieval Operations Capital Equipment Manufacturing division – tooling development capabilities of global standard. Apprentice Trainee Course – ensuring stable source of skilled manpower. Kaizen & TPM team – continuous drive to improve efficiencies. Automated manufacturing processes. Distributed manufacturing – Assembly units at South Africa, Thailand, Bangladesh, Brazil etc Maintenance – technical competence Capacity Utilization – Mercedes Benz cars make use of Tata Motors paint shop facilities. Outbound Logistics Stockyards, all across the country Long term contracts with transporters – higher volume of business to transporters ensures competitive price. Regional Sales Office and Vehicle Dispatch Section linked through SAP. Efficient security system for prevention of any kind of pilferage Marketing and Sales Structured approach to understanding the requirements of individual customers – QFD’s conducted at regular intervals. Clear identification of product requirements, leading to development of innovative products – Tata 207 DI, Tata Ace Pan India presence and global footprint. Independent teams for addressing the requirements of institutional customers – Defense, State Transport Units Helping to augment the scarce resources – Fiat selling vehicles through Tata dealerships, in return Tata has access to Fiat’s technology and unutilized capacity. Quick assessment of the changing market dynamics and consumer preferences – Tata 407 LCV Large network of dealers – use of technology : DMS. Service Easy availability of spare parts Efficient collection of data from field and communication to the respective plants Pan India presence, as well as global presence. Large network of workshops – Dealer workshops and TASS Training facilities – for dealer end and TASS personnel Procurement E procurement initiative Global Sourcing Team – China, a key destination for sourcing essential items like tires, power steering units etc. , Steel procured from Belarus Long term relationships with a stable and loyal pool of suppliers Technology driven procurement – SAP and VCM Strategic subsidiaries & JV’s – TACO group of companies, Tata Cummins Centralized Strategic Sourcing for key components – FIP’s, Steel etc Group resources – Tata Steel and Tata International Localized supplier base at mfg. locations – low inventory levels Value Chain Analysis value chain analysis Inbound Logistics Operations Marketing Service Outbound Logistics SAP , VCM SAP , CRM – DMS Strategic Alliances Transporters, Convoy Drivers Association Dealer Network, Marketing Research Firms, Vehicle Financing Regional Warehouses, Dealer Workshops, Distributors, TASS 9 Value Chain Analysis: Tata Motors Inbound Logistics Long term contract with service provider’s – transporters and agents Personnel at regional offices for over seeing the smooth transit of goods Transparency and monitoring through deployment of IT – all transactions through SAP DTL supplies for critical high value items. Efficient storage facilities – easy storage and retrieval Operations Capital Equipment Manufacturing division – tooling development capabilities of global standard. Apprentice Trainee Course – ensuring stable source of skilled manpower. Kaizen & TPM team – continuous drive to improve efficiencies. Automated manufacturing processes. Distributed manufacturing – Assembly units at South Africa, Thailand, Bangladesh, Brazil etc Maintenance – technical competence Capacity Utilization – Mercedes Benz cars make use of Tata Motors paint shop facilities. Outbound Logistics Stockyards, all across the country Long term contracts with transporters – higher volume of business to transporters ensures competitive price. Regional Sales Office and Vehicle Dispatch Section linked through SAP. Efficient security system for prevention of any kind of pilferage Marketing and Sales Structured approach to understanding the requirements of individual customers – QFD’s conducted at regular intervals. Clear identification of product requirements, leading to development of innovative products – Tata 207 DI, Tata Ace Pan India presence and global footprint. Independent teams for addressing the requirements of institutional customers – Defense, State Transport Units Helping to augment the scarce resources – Fiat selling vehicles through Tata dealerships, in return Tata has access to Fiat’s technology and unutilized capacity. Quick assessment of the changing market dynamics and consumer preferences – Tata 407 LCV Large network of dealers – use of technology : DMS. Service Easy availability of spare parts Efficient collection of data from field and communication to the respective plants Pan India presence, as well as global presence. Large network of workshops – Dealer workshops and TASS Training facilities – for dealer end and TASS personnel Procurement E procurement initiative Global Sourcing Team – China, a key destination for sourcing essential items like tires, power steering units etc. , Steel procured from Belarus Long term relationships with a stable and loyal pool of suppliers Technology driven procurement – SAP and VCM Strategic subsidiaries & JV’s – TACO group of companies, Tata Cummins Centralized Strategic Sourcing for key components – FIP’s, Steel etc Group resources – Tata Steel and Tata International Localized supplier base at mfg. locations – low inventory levels

Economic Growth And Standard Of Living Essay

To understand any topic it is always important to take note of the key words. In this case I am going to first pin point the key words. Economy in a lay man’s language is the management of finances or care in the use of resources. Others may say it is a system of producing and managing resources. This then puts everyone in light that economic growth as the increment of management and use of resources like finances, wealth and so on. Standard of living can measured by types of living styles that is quality (living in high standards and able to afford especially the basic needs) or of no quality that is (poor quality most especially not being able to afford the basics in life and probably living below the poverty line) (Elkington J. , 1974); Economic growth is seen on both extremes by different individuals that is the best or worst and the sides of it depending on how it has affected their standards of living. The way it affects the standards of living in the present and how it affected in the past is very different from the way it will be tomorrow. Its further expansion today has also affected different individuals differently. Others have seen it to have caused more harm than good while others see it to have caused more than more good than harm and this second group appears to be the majority hence increasing the gap between these two groups of people (The World Business Council for sustainable). Nevertheless economic growth to a larger extent is seen as a valuable vehicle for raising standards of living in aspects like social life, political aspects and even psychological aspects. Since time immemorial, everyone valued a high standard of living and every member of the family and society worked toward achieving more and more resources so as to live a better life. Men, women and children for instance did farming and cultivated food crops for home consumption. This was in the past before the innovation of cash economy. In that era, the three fundamental processes used in economic growth were identification, cooperation and imitation Aragon-Correa and Sharma S. , 2003 and Dunphy D, Griffiths A, and Benn S. , 2000). Today or presently it is true that further economic expansion has been seen. This is why the world today bases on the mechanism of â€Å"survival for the fittest†. This mechanism is mainly trying to see that everyone actively participates towards economic growth and hence improving their standards of living. So people have just deliberately decided to be lazy and they are the same people complaining of economic growth as unnecessary. They have given others the opportunity to even grow richer as they (the lazy ones) become poorer. It is important to note that as the world economy grows, the standard of living also grows. It does not remain stagnant hence the capacity of manpower in the society should also increase so as to match the economic growth and avoid lagging behind. It is done in this manner, and then the difficulty of economic growth affecting the standards of living presently will not be felt (World Economic Forum). It is seen clearly that as world’s life proceeds, very many aspects change. For instance, the population of South Africa in early 1930’s cannot match or be the same as the population today. Today’s population has definitely outgrown the one of 1930’s hence the economic growth will remain a valuable vehicle for raising and not degrading the standards of living if we check into issues like education, population control, employment especially skilled manpower in professional fields, etc. good example here is population control. In the past population was not as big and huge as today hence the issue of poor standard of living was not intensely felt. Today the population has double even tripled in specific places. This then has led to shortage of land, food, employment, schools hence giving the first priorities to the rich who can scramble. This then has led to high illiteracy, creation of slums, high crime rates. So if population standards are controlled by example introducing and sensitizing people on the issue of using contraceptives, keeping people in schools especially women who can go up to high institutions of learning hence making them concentrate in books and by the time they think of marriage, they are old enough not to give birth to too many children as compared to when they are out of school making them marry early and bearing many children. The issue of education, population control will improve both the economic growth and standards of living in the long run (World Economic Forum). Another very crucial thing is and that we in the world today cannot do without is the fact that of the machineries invention and innovation. This was not in the past, but today it has actually improved our majority standards of living. It is a fact that even the poor man at least can afford some kind of machinery for instance he or she may not afford a television set but may afford a small radio of about three dollars. This is because it is extremely important to listen to and know what is going on in the world through that small radio an issue that was not there in the past though people at that time were still comfortable because these machineries were not there. This hence is seen that economic growth is vats and can accommodate everyone. This means that despite the economic growth, there are still some cheap commodities that can be afforded by the low level people so as to enjoy their lives. The economic growth is also seen to incorporate the non professional activities for example engaging in vegetable sales, shoe shining, house helps and so on. Not everyone has a professional duty like teaching; nursing, etc yet even the non professional people must live and enjoy their lives. By doing their non-professional duties, they also actively participate in economic growth. For instance, a person doing the shoe shine job will have to buy the shoe polish hence contributing to the economic growth of the shoe polish company. On the other side of the economic growth, which is also to a lesser extent, I see its further expansions to be unnecessary and especially when its undesirable effects are considered from a true – cost perspective rather than form a true – benefit perspective (World Economic Forum). As I have discussed in the previous paragraphs, everyone cannot be the same in terms of gifts and talents, in brain, strength, authority and understanding. There must be both low and high level people. This also applies in the standard of living which is determined by the economic growth. For sure it is true that it affects people differently. In the real world, today, this economic growth has made the rich richer and the poor poorer. This hence has made the poor group to look at economic growth as an enemy. This is mainly because the poor have not been given a chance to enjoy the changes that come with economic growth. For instance, most of the poor people are not computer literates hence when employment opportunities come up, the first requirement is computer literacy which completely excludes them from the race even when one had the potential of doing that job. These computer courses are mainly provided in the schools of the rich (International Chamber of Commerce, Business charter for sustainable Development, 1990). Economic growth has been accompanied by a lot of bureaucracy. The rich people have taken the top levels and the poor people the low levels. It becomes very difficult for the one at the bottom to reach the one at the top. Before one reaches to the top from the bottom he or she must have used a lot of time, some little finances so as to get favours fro above. Those favours mainly may not be there because the ones at the top always are interested in doing things that favour and benefit them especially when it comes to finances thus rendering the poor back to or get stuck in poor living standards (World commission for Environment and development, 1987). When it comes to distribution of resources, it is clearly seen that some regions in countries are not considered or given priorities. This then instead of improving their standards of living through economic growth, they continue to deteriorate. A good example is usually when the politicians especially the presidents in the third world countries who give priorities to their regions of origin neglecting the other regions. This is even worse when a certain region has got no representative in the government hence making them curse the economic growth (World Economic Forum). In summary, I have discussed that economic growth is for raising the living standards to a larger extent in that †¢ It helps improve the capacity of manpower thus encouraging participation to improve the living standards Because everyone wants to olive in a good standard population will be controlled and hence more savings for more economic growth. †¢ Education is seen as an important factor leading to both economic growth and standard of living though in the long run †¢ Employment opportunities which leads to earnings and savings hence considering both the economic growth and living standards as valuable †¢ Economic growth being vats tha t is accommodating both the rich and the poor through machinery. An example is if one cannot afford a television then he r she can buy a radio which he or she can afford to listen to hence seen as improved his or her standards of living. †¢ it has too much bureaucracy making low level people not reach the top people †¢ Top people are seen as selfish and just for issues that benefit them especially finances. †¢ Poor people not given a chance to enjoy changes that come with economic growth for example computer literacy which is mainly taught in schools for the rich. In conclusion, economic growth is important to our living standards but can be disastrous especially when others are deprived of it. This ends up creating gaps between people hence leading to other social problems. There is a low level of economic growth rate. Economists’ researchers have maintained that in order for economy to realize good standard of living 10% increase in her economy is necessary, she must invest 10 % of her national income. Reduce consumption, increase investments or savings at same time reduce the family size children or they end up in vicious cycle of poverty. There is a lot of pressure in terms of provision of social services in un developed world. This leads to difficulty in distributing resources equally. It is also costly because of the large numbers thus social service provision becomes inadequate. It is seen to be affecting the nature of social services for example leading to poor housing and low quality of education.

One child policy in China Research Paper Example | Topics and Well Written Essays - 1000 words

One child policy in China - Research Paper Example Regardless, it must noted that the policy has some exceptions. For example, the policy does not apply to ethnic minorities. In some cases, a family is given a chance to have a second child if the first-born is a girl (Li, Yi, and Zhang) (Feng, Poston Jr. and Wang). The One Child Policy has affected Chinese families in many ways. The research paper evaluates the policy to determine the positive and negative effects of the One-Child Policy on families and the entire Chinese society. The implementation of the one-child policy began nationally in 1979. Approximately 6.1 million couples were given honorary certificates for giving birth to one child only. The couples swore never to give birth in the certificates. The number of one-child families continued to grow in the early 1980s. The rate of growth was approximately 4.4 million families every year (Feng, Poston Jr. and Wang 15). The one-child family norm has become a part of urban families. The growth of these families facilitated significant changes in the Chinese society, family relationships and family structure. Recent there have been changes in the one child policy law. A number of exceptions have been introduced. For example, a farmer who has a daughter only is allowed to give birth to have more than one child. Poor farmers who rely only on farming are allowed to have more than one child if the firstborn is a daughter or disabled. The family lifestyle of all China has been affected by the policy in varied. The policy has also been the source of many problems that currently face the Chinese society. The presence of one child in a family has made it possible for parents to concentrate on providing the best for the child. Most of the children are taken to private schools and given the best education because the parents can afford it. These factors have positively influenced the life that a child lives as he grows. This was not the case before the implementation of

Ethics and the News Essay Example | Topics and Well Written Essays - 750 words

Ethics and the News - Essay Example Nowadays, according to Rosenblatt (2012), â€Å"All of your Facebook activity and data will be available to the advertisers who use the network.† This clearly means a breach of privacy and thus, not only can advertisers use a user’s personal data but this data may be used maliciously by certain people or organizations who either sell illegal products and who can deliberately cause violence or harm towards a particular user or any random user. Indeed, if this is the case then it must be dangerous to even post anything on Facebook since the company might not be able to exactly trace where the information goes and who sees it. Moreover, there is indeed danger if one freely exposes private information over Facebook for some individuals might use this information for their own malicious motives, not to mention that anyone on Facebook or on any other social networking site might be able to gain access to it by mistake, and may either make fun of such information or â€Å"sim ply know† it without the knowledge and permission of the user. ... s practice of providing advertising companies with data from its users and shows this to be a rather natural tendency: â€Å"Facebook should not be criticized for the fact that it offers†¦new social plugins† because â€Å"the company carefully manages the data-sharing process, and it has made serious efforts to tell users exactly what is going and what they can do about it† (Eldon, 2010). In fact, based on the report, these privacy issues are without any basis and that these issues are in fact â€Å"creating new risks not just for Facebook users, but for the company and its ecosystem of developers and marketers† (Eldon, 2010). The privacy issues might also call the attention of the United States Federal Trade Commission as they might â€Å"impose stiff new regulation on what product changes that Facebook can make going forward, thereby limiting its ability to improve its products† (Eldon, 2010). In short, the report that favors Facebook and tries to e xonerate it from the accusations hurled against it concerning privacy issues somehow has three points: first, it is trying to say that such sharing is inevitable since Facebook is a new and developing company; second, it wants to tell the readers that Facebook is in fact doing its best to regulate the flow of data during any process that shares this data; and thirdly, the privacy issues raised by Facebook users in fact is the one that endangers the sense of freedom and privacy that Facebook affords its users. The reason is that such issues might call the attention of the government and thus monitor Facebook operations more closely. The third point actually discourages people from further hurling accusations against Facebook. According to James Rachels, â€Å"[Although] it is possible for people to act altruistically†¦a person

Profile of a Learner Essay Example | Topics and Well Written Essays - 1250 words

Profile of a Learner - Essay Example As a teacher, I have to make sure each student gains from the course by trying as much as possible to accommodate their needs in my teaching methods. My current class consists of students with a wide range of capabilities, talents and learning abilities. As a teacher, I have had to change my teaching mode in order to enhance learning outcomes of each of the students. In this essay, I will profile one of my students, Emmy. Emmy is an eighteen-year-old female student taking various subjects including as working in partnership, health and safety, and principle of practice, which are the main elements of the Health and social care Course. Each of these course elements equip students with different skills and are all essential to their general understanding of health issues and social care. Therefore, it is essential for the students to perform well in all the course elements, in both theory and practice in order to excel in the course as indicated by Armitage, et al, (2012). Description of Initial Assessment Procedures In order to fully understand Emmy, I endeavored to conduct an assessment on her academic and general behavior in order to know how to help her. This, according to Keeley-Brown, (2007), is the best way to conduct an initial assessment of the student and get a clear picture of the student’s needs.... In order to help her and the other students, I decided to take a keen assessment of Emmy and her behavior in order to help her achieve the best learning outcomes at the end of the course. I therefore went through her academic records, talked to her friends as well as sitting down worth her in order to assess her mental abilities. A look at her academic records revealed that she had one of the lowest average grades with extremely poor results in theoretical subjects. She performed pretty well in practical subjects. After looking at her results and comparing with other students in her company, I concluded that she was somewhat nonchalant in reading a lot of the theory notes given to her by the teachers. She preferred doing practical; assignments on the other hand. Theoretical subjects demand that students use up their time reading in order to grasp the content. Her lack of interest in reading could have contributed to her poor results in theory. Upon keeping a keen eye on her behavior in class, I noticed that she shunned away from students who performed better than her and preferred to hang with average students like herself. She also did not like participating in group assignments. Most of the groups were formed around the idea that the students with different learning abilities would come together to share their skills and learn from one another. The groups therefore consisted of both average and excellent students. I tried to sit down with Emmy and chat with her and I discovered that her mental strength was a little bit lower than the course required in order for one to excel. She had a low self-esteem and feared interacting with students she felt were clever. She also had a negative

Marketing Plan Research Paper Example | Topics and Well Written Essays - 750 words

Marketing Plan - Research Paper Example he strengths component of the SWOT analysis it is the case that internal environment of Chick-Fil-a has a number of factors that could be considered beneficial. Firstly it is the case that the company is often perceived as having healthier options over other fast food companies, furthermore the company has a long history of innovation as they were one of the first innovators in the chicken sandwich format. There is often a sense of family oriented atmosphere in a typical Chick-Fil-A insofar as they present a fun image (By using cows in their advertising). In this regard if the company were to move forward with an internet cafà © aspect of their business it may be beneficial because they have been innovators in the past and the internet format may help add to the ‘Fun atmosphere they tend to present. In terms of the internal weaknesses of the company, as anybody who has eaten at the restaurant can identify, the menu options are restricted to chicken and when the company engages in a price war with a traditional hamburger company one could argue that the additional cost of adding internet could negatively affect the price point of their product offerings. In terms of external opportunities, the company leads the way with healthy fast food options, with a high degree of customer loyalty. This in turn can help the company if they choose to implement an internet cafà © function to their business model as it may help gain and retain new customers with a faster paced (Healthy lifestyle). Lastly the external threats to the company are that a number of other fast food chains offer similar menu items and already have the internet cafà © function. Furthermore by being closed on Sundays there is the potential that this could turn away customers who would desire a more entertaining internet experience in their free time. In terms of competition in the fast food sector and internet sector it is the case that according to openwifispots.com (2010) several other companies

Nanomaterials in Consumer Products Research Paper - 1

Nanomaterials in Consumer Products - Research Paper Example At the same time in the business dimension, there are still concerns about the nanotechnology effect on global economics. The use of nanotechnologies is on the rise because it is very effective. There are numerous products on the market with additional ones coming in day after day. Most of the viable products for use by the public are duped as the first generation. Some of the available products in the market include tritium oxide that is used in most of the surface coatings, cosmetics as sunscreen at the same time is employed in some food additives, carbon allotropes are used to produce gecko tape. Lastly, one of the most commonly used material in this technology is a silver. It has been used mostly as an antibacterial in household appliances(Suh et al., 133). Zinc oxide is used in most sunscreens and surface coating, outdoor furniture furnishes, paints and cosmetic. Lastly cilium oxide is used as fuel catalysts. Silver is one of the materials used in the production of nanotechnology equipment. It can be used in food packaging, disinfectants, household appliances and clothing. Further, the silver ionic nanoparticles can be used for washing machines, air conditioners, refrigerators Samsung vacuum cleaners and air purifiers as part of the household appliances used. Silver nano coating is used in most of the Samsung home appliances to protect the household from bacterial infection. Most of the appliances are coated with silver nano that has both antifungal and anti-bacterial effect. Thus, it keeps the place clean and free from contamination by microorganism. For instance, the Samsung fridge is coated with this silicon on the inside hence killing this microorganism by cellular metabolism hence preventing further growth. According to Hoek & Ghosh, (5) the silver nanotechnology is used to sterilise equipment against 650 types of bacteria. The machines do so by eliminating about 400 billion silvers ions that penetrate deep

MYOB's Interdepartmental Communication Essay Example | Topics and Well Written Essays - 750 words

MYOB's Interdepartmental Communication - Essay Example This is referred to as interdepartmental communication. Every department needs to communicate with the other departments to inform them as to what are the updates and/or changes that a particular department would be implementing. It is not to know whether the department is doing its designated task, however it is more on knowing how the change would affect the organization as a whole. A particular department’s change would definitely affect the whole company as each department is linked to one another (Carroll, 2010, pp. 10-12). Though working in just one company, people from different departments still find it difficult to communicate with other people belonging to another department. As Carroll (2010, p. 11) expressed, â€Å"interdepartmental communication is a challenge in many industries – one department may not know how its action or inaction affects another department. The managers may incorrectly assume that other departments understand what they need and why.â €  It is not good to assume that everything is okay when memorandums are sent. There should be counter-checking with regard to the comprehension of the memos that were transmitted. MYOB has been providing Australia and New Zealand with downloadable computer software which aids many professionals in their jobs since 1991. Since the company uses the worldwide web as its medium in disseminating this software, the company has options to expand its market internationally without any additional cost (MYOB, 2012). It is known that when a company starts expanding, there would be a need to create departments that would focus on particular aspects of maintaining the website and running the company as a whole at the headquarters. Though working in the same company, there would be instances that employees would not be given the chance to meet everybody on the payroll. The usual mode of communication used in companies in recent years is through company’s electronic mail or e-mail. If s uch is the case, an employee should habitually check his company e-mail for the latest memos or updates circulated to everyone, or an e-mail directly addressed to the person for any issues that need clarifications, or just any direct instruction or message. With the numerous tasks waiting to be accomplished, there would be times that an employee would only be able to check the e-mail at least twice a day, which would be upon coming to work and before leaving the workplace. Since the company is dealing with customers purchasing their products online, people who are using the software can either use the phone numbers listed on the website or just click on the picture on their Contact Us page to be redirected to the proper support group. For this kind of company, it is the support group and the technical department that need to ensure that their interdepartmental communication is synched. Other department that should be synched with each other are the finance and the advertising depart ments. During the latter part of 2011, MYOB released the latest version of one of its accounting software. This should be kudos to the technical department. However, as reported by Sholto Macpherson (2011), there were bugs present in the newer version that either slows down the program itself or makes it unusable at all. Surely, the support group received complaints regarding the bug; however, the technical team was not properly informed about the concern. The scenario would be likely as the latter statement or the technical team

How does the distributional role of the state (in income Essay

How does the distributional role of the state (in income redistribution and the alleviation of poverty) conflict with the objective of economic efficiency - Essay Example The market system does not guarantee that everyone will have the same opportunity to accumulate wealth and once an inequality in the distribution of wealth arises it tends to be self perpetuating because wealth can be inherited. (SJ Grant 2000). It is a general characteristic of developing countries that income is unevenly distributed. Partly, because the income generating assets especially land are owned by the few. As a result we can see great extremes of both the rich and the poor. In 1998 for example the World Bank figures show that in Peru the poorest 20% of the population had only 4.4percent of total household income, while the richest 20% had 51.3% of total household income. These great extremes of the rich and the poor mean that in developing countries deprivation is very common. The distribution of income can be examined in two main ways .One is by examining the distribution of income between the factors of production. In this case the wages account for the largest percentage but the share of income has fallen over the years. Another way of examining the distribution of income is to examine how disposable income is distributed. Disposable income mainly consists of incomes that are derived from factor services together with various forms of cash benefits, i.e. social security payments etc . Minus direct taxes i.e. income taxes and national insurance contributions. Two very vital elements in the income of households of distribution are the investment income and the income derived from self employment. The unequal distribution of wealth is a major cause of the inequality in the distribution of income. ‘Gross Inequalities in the distributions of income and wealth lead to feelings of ‘unfairness’ because , quite apart from creating inequalities in living standards , they lead to inequalities of opportunities in living standards ,they lead to inequalities of opportunity. The wealthy can buy