Competition Between Families: Modern Techniques Beauty College Vs' Charles of Italy Beauty College' - PowerPoint PPT Presentation

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Competition Between Families: Modern Techniques Beauty College Vs' Charles of Italy Beauty College'

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Adam Smith: Background Information from The Wealth of Nations. ... age of the world, to have been the vile maxim of the masters of mankind' (Smith) ... – PowerPoint PPT presentation

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Title: Competition Between Families: Modern Techniques Beauty College Vs' Charles of Italy Beauty College'


1
Competition Between FamiliesModern Techniques
Beauty College Vs. Charles of Italy Beauty
College.
  • Adam Smith Background Information from The
    Wealth of Nations.
  • So, You Thought Adam Smith was Only interested in
    Self-Interest and Competition?
  • The Story Goes
  • The Story Goes... Continued.
  • Charles of Italy Beauty School.
  • Modern Techniques Beauty College.
  • What Competition Does to a Family!
  • Applying Adam Smith to This Battle.
  • Final Thought Applying Adam Smith.

2
Adam SmithBackground Information from The
Wealth of Nations.
  • It is not from the benevolence of the butcher,
    the brewer, or the baker, that we can expect our
    dinner, but from their regard to their own
    interest (Smith).
  • Invisible Hand
  • Self-Interest Equates With General Interest.
  • Individual Acting for Own Good Promotes the Good
    of the Community.
  • People Benefit the Community by Acting in Own
    Self Interest.
  • Meritocracy- Individuals Ability to Achieve their
    God Given Talents without interference.

3
So, You Thought Adam Smith was Only Interested in
Self-Interest and Competition?
  • Concepts of the Invisible Hand That are
    Overlooked
  • All for ourselves, and nothing for other people,
    seems, in every age of the world, to have been
    the vile maxim of the masters of mankind"
    (Smith).
  • Smith was not stating that self-interest should
    be a social policy, but that it was an
    observed economic reality.
  • Smith was not claiming that all self-interest
    has beneficial effects on the community.
  • Smith did not argue that self-interest is always
    good he merely argued against the view that
    self-interest is necessarily bad.

4
The Story Goes
  • 1980- Grandpa (Charles Bartolomeo) opens Charles
    of Italy Beauty School
  • 1989-Mother (Susan Ramsey) starts working for him
    as an instructor for 9,600 a year plus some
    added bonuses.
  • Note Charles is my grandpa on my dads side, my
    parents, were divorced before my mother started
    working for him. So, he is my mothers ex- father
    in law.
  • Susan helps build Charles school. Helping with
    enrollment, financial aid, the clinic floor, and
    instruction of students.
  • Susan works for him for over 15 years making only
    24,000 a year plus some added bonuses before
    deciding to open her own beauty school in 2004.
  • Before she left she gave Charles the option of
    giving her 10 of the schools profits or allow
    her to run her own school in co-ordination with
    his. He declined.

5
The Story GoesContinued.
  • 2004- Modern Techniques Beauty School opened
    approximately 4.0 miles away from Charles of
    Italy Beauty College.
  • Charles Bartolomeo (My Grandpa) did not want to
    talk about the school to me for this project
    because he was scared I would tell Susan Ramsey
    (My Mother).
  • The only information provided was the Charles of
    Italy Beauty College Course Catalogue and
    Application for enrollment (Which was party
    written by Susan before she left).
  • Susan Ramsey was more cooperative with the
    information.

6
Charles of Italy Beauty School.
  • Tuition
  • Aesthetics 4,500
  • Cosmetology 10,000
  • Cosmetology Instructor Training 2,325
  • Nail Technology 4,500
  • Nail Technology Instructor Training 4,125
  • Current Enrollment Unknown
  • Profit 2005 Unknown
  • United States Department of Education
  • Title IV Student Financial Assistance up
    to 4,000
  • Loans available
  • Admission requirements
  • High School Diploma or GED
  • Products Used Products made for Charles of
    Italy Beauty College by Marian School
    Distributor

7
Modern Techniques Beauty College.
  • Tuition
  • Aesthetics No Course Offered
  • Cosmetology 7,000
  • Cosmetology Instructor Training 2,700
  • Nail Technology 3,000
  • Nail Technology Instructor Training 2,700
  • Current Enrollment 15
  • Profit 2005 45,000
  • No Title IV Funding
  • No Loans Available
  • Admission Requirements One of the Following
  • High School Diploma or GED
  • Proof of 10th grade education with two years of
    English
  • Proof of being over the age of 23
  • Products Used Redken, Paul Mitchell,
    Framesi, Rusk, Hemp

8
What Competition Does to the Family.
  • Since my mom opened the Business my Grandpa and
    Grandma have been relatively distant towards me.
  • If I do go to his school to visit, he is quick to
    hustle me out in fear I might reveal the inner
    workings of his school.
  • Finances have decreased from that side of the
    family.
  • They feel since my mother is making more money
    they shouldnt have to provide me with anything.
  • Charles has tried to sabotage Modern Techniques
    Beauty College by turning them into the Arizona
    State Board of Education for not following
    certain rules.
  • All inquiries were dropped by the Arizona State
    Board of Education.
  • Susan Ramsey states that she never bad-mouths
    Charles school, but states that the only
    difference between her school and Charles of
    Italy Beauty College is that she offers
    professional product and outside professional
    educators, while Charles is only interested in
    the old (Ramsey).

9
Applying Adam Smith to This Battle.
  • The economy has forced Susan Ramsey to look out
    for her self-interest and compete against a
    family member.
  • Lake Havasu City has two cosmetology schools to
    choose from. Therefore, it benefits the community
    to have a choice.
  • Adam Smith noticed that self-interest was an
    observed economic reality and this is true for
    Susan.
  • In order for Susan to survive and provide for
    her family, she needed more than the 24,000 a
    year he was paying her.
  • This caused conflict amongst the family members,
    but Susans own self-interest has brought variety
    to Lake Havasu City and has allowed her to
    provide her family with the things they need.
  • There could have been a way Susan and Charles
    could have co-operated and worked together, but
    Charles refused. Thus, leaving Susan with no
    other choice than to compete with him.

10
Final Thought Applying Adam Smith.
  • Susan Ramsey acted for her own Meritocracy and
    exercised her ability to achieve her God Given
    Talents without the interference of anyone,
    including family.
  • Information regarding Adam Smiths, The Wealth of
    Nations, provided by
  • Wealth of Nations 15 Apr 2006. Wikimedia
    Foundation, Inc. 28 Apr 2006. http//en.wikipedia.
    org/wiki/The_Wealth_of_Nations.
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