Comparison and Contrast of Keynesian and Classical Economic Essay

analogy and Contrast of Keynesian and Classical Economic - Essay ExampleAs the study discussesKeynes further argued that the direct of total expending in the economy could be less to provide full employment. This disagreed with the classical economists who believed that the involution set out adjustments, allowance, and prices would help to prevent the unemployment. Keynes said that the full employment happens when the amount of total spending is enough. Moreover, if the spending is non sufficient, then the unemployment will occur.This essay highlights thatKeynes also disagreed with the relationship between saving and investment not being enough to support classical claims that the support full employment. Classical economist described both forces that verify full employment occurs. Those are the interest rate adjustments and wage/price flexibility. If the interest rate falls as planned and the investors result in little spending, salaries and prices can still support to ens ure full employment is reached. When a competitive market occurs, the low demand will lead to fall wages and prices that will finally lead to all outputs being sold and prevent unemployment.Keynes disagreed with classical assumptions somewhat high wages and prices are not consistent with the real world. Keynes explained that variety of forces prevented prices and wages from adjusting quickly. These forces prevent prices and wages from changing quickly and in a downward direction.Keynes said that many product markets are noncompetitive or oligopolistic.

Cell phones and brain cancer Research Paper Example | Topics and Well Written Essays - 1000 words - 1

Cell phones and brain cancer - Research Paper ExampleThat is nearly one in two people in the globe have a carrel phone attached to their identity. This statistic makes it fire that carrel phones have become inevitable to our lives. A link has been identified betwixt some kinds of electromagnetic radioactivity and some cancers. These forms of electromagnetic radiation include ultraviolet radiation, X-rays, and gamma rays. They are dangerous because they whitethorn break covalent chemical bonds in your body. Breakage of certain covalent bonds in key molecules leads to an change magnitude cancer risk. (Leikind) It is claimed that Radio Frequency (RF) waves employed by cell phones are not in the similar grouping as these harmful radiations.RF is a type of electromagnetic radiation that falls between FM radio waves and those used in microwave ovens, satellite stations, and radar. (Leikind) Those who defend the safety of cell phones point out that the device does not emit ionizing r adiation, which has the potential to create chemical changes to molecules in the gay body. In other words, in the absence of ionizing radiation, the human DNA will not be discredited by cell phone usage. It is argued that cell phonesemit nonionizing radiation, which has lower energy and a longer wavelength than ionizing radiation. Nonionizing radiation is not strong enough to change an atoms structure, but it can heat tissue. The Federal Communication focussing (FCC) places a limit on the amount of RF energy that can be absorbed from a cell phone into the users local tissues--the specific absorption rate (SAR)--at 1.6 watts per kilogram (W/kg). (Liberatore 70)Hence, those cell phone devices that suffer by FCC regulation on heat limit should be safe for usage. This is backed by new-fangled research evidence as well, which suggest that short-term exposure to cell phones might cause no harm whatsoever. But in terms of long-term usage, results from a review of 18 studies on cell pho ne use of

Criminal Justice and Women Essay Example | Topics and Well Written Essays - 500 words

Criminal Justice and Women - Essay fashion modelFor this case, the middle level age women are the most affected or targeted by rapist hence they should take extra caution on themselves.Many victims of colza do not report that they hire cozyly harassed since they will think that they will not be believed. They also tend to caution that they will be discriminated or feel rejected in the society due to the rape incident. in that respect should be a well established hospital to cater for the rape victims whereby they will be barren to discuss their problem. (Abbey et al, 1996)Sexual assault crime is a serious offence on a cleaning lady hence the offender should be punished accordingly to turn back that he will not recur the act again in future. For this case, the legislator should ensure they pass a bill in parliament that would ensure that law would be enacted to protect sexually assaulted women.Sometimes the criminal justice is not fair when the sexual assault cases are being heard. They are not fair to the rape victim and they tend to so far put her on a lot of shame when she might be asked to demonstrate what really happened during the rape incident. For this case, they should not harass the rape victim by asking them to demonstrate what really happened on the calamitous day. The court should rely on the doctors report that was written when the rape victim reported the case to a hospital.When it comes to sexual assault case, the primary goal is not to punish the

BUSINESS ASSIGNMENT Essay Example | Topics and Well Written Essays - 1250 words

BUSINESS ASSIGNMENT - Essay fontThe naval division has been done by using demographics and behavioural strategies. The target market has been chosen after identifying the surface and profitability of the segments. After developing the fix strategy, the marketing mix has been created for the target market. Finally, an overview of the financial plan of Manga coffeehouse has been discussed. IDENTIFIED PROBLEM The business plan of effectuateing Manga Cafe in capital of the United Kingdom appears to be a unique idea as there is currently non such cafe in capital of the United Kingdom however, because of the aggressive competition among the international brands in the UK Cafe industry Manga Cafe needs a truly well-organised and efficient marketing plan. INDUSTRY COMPETITION Various coffee brands are operating in London however, the three largest market leaders include Starbucks, Costa Coffee and Nero. The following positioning map shows the positioning of major cafe providers in L ondon based on their quality of services and prices. Starbucks being the market leader is offering average quality but at very high prices, therefore, shares of Starbucks are declining not only in UK but in most of its major markets (Bishopric, 2011). Costa is expanding throughout UK because of its reasonable prices and cave in quality and in 2010/2011, company aims to open 130 more outlets in the UK (Bakeryinfo, 2010). Nero is considered as a cheesy brand which offers value through high quality products and services. Positioning Map THE PRODUCT/SERVICE rendering Manga Cafes are very popular among the Japanese communities. The increasing number of Japanese residents in the UK builds a bullnecked demand for Manga Cafes in the UK, European and foreign markets. Since there is no Manga Cafe in London yet, therefore, launch of Manga Cafe in London appears to be a feasible business option. This cafe will replete the increasing demand of Japanese comics in Europe. The cafe will offer a platform to the stack where they can come and enjoy reading Japanese comics. Moreover, additional services will also be offered to entertain the visitors such as Japanese food, internet facility, games and DVDs. The visitors will be charged based on their duration of stay in the cafe. MARKETING PLAN Market Segmentation To segment the market, demographics and behavioral segmentation strategies have been used. In demographics segmentation, the consumers have been segmented based on their age, profession and nationality. Age The age convocation structure of London in 2001 is given below (Office for National Statistics, 2002). Age Structure of People in London Source Office for National Statistics Profession The second demographic unsettled is profession and in London people belonging to different professions such as education, workers, professionals, unemployed reside. Nationality The third demographic variable is nationality and since Manga Cafe is a Japanese cafe therefore, only Japanese nationals will be directly targeted. However, the thorough population of London in 2009 was 7,686,000 and it includes around people with 34 different nationalities (London.gov.uk, 2010). Table London people by Nationality Source London.gov.uk In behavioral segmentation, the consumers who will be having knowledge, interest and positive attitude towards Japanese culture will be

Police administration Essay Example | Topics and Well Written Essays - 1500 words

Police administration - Essay ExampleThis role involves issues such as rules, employees, jobs, tasks, supervision, budget, efficiency, and workload. This role ensures that the patrol force executive director see to it that the functions of the police organizations are executed correctly. This is because the police executive is at the tiller of the police system and indeed must ensure that processes, inputs, outputs and feedback are dealt with properly in prepare to allow the police system accomplish its goals. This role is important to the police department because it sees the effectment of police inputs, processes and outcome. Without this role, the goals of the police administration may just be a mirage (Cordner & Scarborough, 2007). The second basic police executive role deals with external matters of the police organization. Because police organizations are open systems, the organization interacts with other organizations in its environs. These environments of the polic e organization are associated with a number of variable demands such as unusual and routine requests for run of the police organization directives originating from the judiciary inquiries of police management of specific crimes and incidents and the minimum requirements for police training mandated by the state. Many of these demands are particularly received by the police executive personally as healthy as the requests from the environment. The police executive due to this is responsible for the response of the entire police organization. In general, the police executive is held accountable for managing the interaction between the environment and the police organization in order to alter the police organization system achieves its goals. Again this is important in police departments as failure to manage effectively the police organization environment, the attainment of the organizational goals will be impeded (Cordner & Scarborough, 2007). Both the ingrained and external basic roles of the police executive are important to the department and the community. It is essential unadornedly that the headspring of police pays attention to the innate police operations of the police organization. The internal basic role therefore fits the concept of responsibilities and duties of management. The external basic role of the police executive may be little obvious compared to the internal basic role. Because the police organization is an open system and is therefore impacted by its environs, the distressing law, job applicants, requests for police assistance, and money to pay to employees of the police organization all come from the environment to the police department. The central government system, the community, the system of criminal justice, and the media also make primary aspects of the environment of the police organization. In order to assure success of the police department, police executives must give attention and focus on relations with all the mention ed environmental elements because they affect the police organization significantly and directly (Reiss, 2004). Failure to perform any of the roles sufficiently can possibly ruin the entire police department and the police chief. Issues of internal role may lead to poor morale, low productivity, negligent work, substandard equipment and personnel, and abuses such as decadence and brutality. The system of police department can easily fail to achieve its goals as a conduct of poor internal management. On the other hand, not executing external basic role of the police executive will result into declined goal achievement. For example, if the police executive estrange city hall, it is most verisimilar that requests of the budgets of the police will be put at risk and funding will be less sufficient for optimal performance of the police

Diversity Paper Essay Example | Topics and Well Written Essays - 750 words

diversity Paper - Essay ExampleThe supportive spirit is more than introverted and team-oriented. They atomic number 18 supportive and subservient and thrive in interpersonal relationships. The cautious personality is also reserved and seeks consistency, value and is task-oriented. Their primary concenter is on being accurate and correct in their assessments (Rohm, 2004). In addition to these underlying personality traits, umpteen other factors play a role in determining a persons personality and behaviour such as gender, socioeconomic status and sexual orientation.Studies have shown, not surprisingly, that boys are speedy to openly display their temper than are girls. This is because girls are taught from a young age that angry displays are inappropriate and proper control of their emotions is a societal expectation for which they are rewarded. Socially acceptable behavior for girls includes being soft of voice at all times while vocal, outward displays of anger are intoler able. They are taught not to cause hurt feelings or be the cause of anothers anger. sex stereotypes which are taught from a very early age reinforce to girls the importance of avoiding conflicts and to always act pleasantly, particularly in a social setting. Females are expected to be attractive. The less physically attractive she is, the more the girl must take on a subservient role. Girls are also taught to manipulate a situation for their own benefit, but not to control it by being overbearing. There are those examples of girls who actively discard this stereotype by rebelling against it often by means of intimidating those girls who fall under the general stereotype of which they are rebelling against. The abuse of sex, alcohol and drugs are common aspects of this rebellion.Males who adhere to societys normal stereotype for suitable behavior and appearance believe they are masters of their own universe. If males are acrobatic and good-looking, they assume and society confirm s that they are

Identify, compare and contrast for the CIA Agency Essay

Identify, compargon and contrast for the CIA Agency - Essay ExampleOf our concern is the fact that Directorate of Science and Technology relates to information bail standards in the agency (CIA, 2011). Factors like integrity of the personnel, secretiveness of the personnel and the information, and the availability of such information postulate up information security. In this context, confidentiality dictates that secretive information should stay as a secret and except authorized persons should receive access to such information. On the other hand, integrity relates to the morality, soberness, and the criminal history of the personnel. whence availability of information and information security relevantly serves an important part in the Agency. Furthermore, there are different standards that govern the application of information security. Some of these standards draw certain similarities while others portray different characteristics. Such standards may include and are not lim ited to Personnel Security Standards, Investigative Requirements and Standards, and report Requirements (Tenet, n.y). Nevertheless, the main aim of all information security standards for CIA Agency is to help in fulfilling its mission in U.S. The Director of Central Intelligence oversees the formulation and implementation of the information security standards for CIA Agency.The National Security morsel of 1947, as amended, and Executive Orders 12333 and 12968, set all the information security standards for CIA to apply to all US politics civilian and military personnel, employees, contractors, and consultants who seek access to Sensitive Compartmented Information (SCI). The Personnel Security Standards make love with qualification for accessing SCI. They stipulate the criteria for security approval on a person who seeks to know the basis for accessing SCI. correspond to the standards, such a person access to SCI must be a US citizen and the individuals immediate family must be US citizens.

Project appraisal through discounted and non-discounted cash flow Essay

Project appraisal through discounted and non-discounted change function techniques - Essay ExamplePositive and negative values makes it easy to understand generation of profits and losings as well as assists decision makers to focus only on the highly positive items, the valued time of management can be saved by focusing on the relevant see to it (Fortes, 2010 Horngren, 2005). Calculations are comparatively easy and data of any finite period can be good converted into present value of it. Net present value analysis is derived from some basic pragmatic and practical assumption it is based on a fact that value of 100 today exit be more than the worth of 100 after a year. Keeping this assumption in head teacher a net present value of future cash inflows is calculated using a discounted rate, usually the rate of cost of capital of a company or industry this rate represents the percentage stripped requirement of return by an organization per annum. Annuity factors can also be us ed if cash flows are constant every year. The Net Present Value (NPV) is a useful technique to date profitability of any item being assessed, but has few limitations as well, it only focuses on literal data that can directly hit the profit generation capabilities of an item and financial aspects only period appraising projects and does not account for the non financial aspects, areas and issue associated to that project whereas, there is a high probability of any decision/ project to get affected by numerous external or upcountry non-financial events.

Week 5 questions Essay Example | Topics and Well Written Essays - 500 words

Week 5 questions - study Examplely defined roles and responsibilities, availability of required resources, and delegation of adequate authorities to facilitate faster and give up decision making, would lead to smoother communications amongst themselves, ultimately translating into realization of the organizations corporate goals. orthogonal stakeholders include consumers, suppliers, competitors, creditors as salubrious as the community at large. These groups form an inevitable part of organizational growth and hence satisfying their requirements is of utmost significance for any organization. The organizations, thus, should strive to establish long line strategic relationship / partnerships with the external stakeholders to gain maximum leverage from the same and to realize the ultimate organizational goals of growth and profitability. This could be achieved by providing high quality products / services to the customers, establishing solid long term relationships with the supp liers, fling a cost effective and niche product line, as hale as good allowance terms for the creditors. This would ensure a satisfied team of individuals which would help in sustaining and developing the overall organizational goals.Long term goals define the vision of the company, which may include the goals of becoming the largest manufacturer in the world, attaining a specified percentage of market shares, or becoming a global leader by creating a niche for its products / services. Long term goals help the organizations in creating a fixed route which they have to copy in order to realize their specified objectives. For instance, for a company, if the long term goal is to be a world leader of a particular product, in terms of customer service, technology as well as quality, the management thus has to devise ways to reach the ultimate objective such as improving cycle times by speeding up the process of product availability, as well as reducing or minimizing the production cos ts by use of best technological acquired immune deficiency syndrome

Finance and accounting Case Study Example | Topics and Well Written Essays - 1250 words

Finance and accounting - Case Study ExampleThe WACC reflects the aggregate embody to the financial institution with regard to the caller. It is the look upon that represents the total return that is required by equity or debt holders against the investment in the firm. The risk free-rate is the interest rate charged on the treasury bonds to reflect the bonds of the judicature as the price that is risk-free. The beta of the firm measures the risk of the stock and was taken based on the fairish of the industry. The average beta factor that is used is 0.78. The additional information that facilitated the qualification include the working large(p) averagely 28.1%, the risk-free interest 4.25% respect to a tax shield of 40% and cost of equity 7.79%. The in a higher place information facilitated the computation of WACC which in this case is 8.33% in the excel file. specie flows are computed by EBIT (1-Tax rate) + disparagement Net working capital. We shall consider using the avera ge present value so the Future Cash flows are discounted by using equity cost of capital. For discounting the terminal value, the WACC is used considering that after 5 years, the company leverage ratio will be constant and in conforming with the competitors in the industry. The present value of equity affiliates is computed by multiplying it with the average price to Earnings ratio. The un-levered cost of capital for computation of the firm is 7.37%. Because dividend to lucre ratio is changing from one year to the other, the adjusted present value is the best method for evaluation of the firm.

Your task is to write a mid-length research paper Essay

Your task is to write a mid-length research news report - Essay ExampleThis essay will analyze fossil fuels from an ethical perspective. In addition, the essay explores how diverse ethical approaches would handle the take.The impacts of fossils fuels on the environment ar well known. Fossil fuels defecate been identified as the leading cause of fossil fuels. Despite the availability of alternative sources of energy such as solar, wind, ge othermal, and atomic energy, the question of fossil fuels persist. In addition, the cost of different oil based products and fuels such as gasoline, diesels, and lubricants have increased dramatically. This has resulted from increased cost of production and increasing demand. Despite these drawbacks, more and more wells are being sunk as pipelines to transport the commodity are being built. Moreover, car manufactures have been in full operation in their attempt to meet the demand. Global warming remains the main brat in the modern world. If the predictions on globose warming are true, then the world would became inhabitable in the near future. It is our moral obligation to protect the globe as the home for humankind.The responsibilities of governments and form _or_ system of government makers remain as the main ethical issues into the matter. Indeed governments and policy makers are responsible for the well fare of the society. Moreover, government and policy makers should make policies that ensure long-term sustainability of the planet and humanity. This indicates the need to separate politics from environmental issues. In this case, governments and other policy makers are expected to make laws or policies that will ensure the long-term sustainability of the planet.The future of fossil fuels is a controversial issue and, hence the need for a detailed analyses. Ethical concerns on the topic should place the way forward concerning the continued use of fossil fuels. Firstly, the role of fossil fossils in global warming is an issue of concern in the modern

Individual's Personal Privacy Literature review

Individuals Personal Privacy - Literature review ExampleSocial issues can be described as matters of concern to both the community and the government (Anon., 2012 a). Social issues may include the speak to incurred by the society for switching ways to computer-based systems, increased internet associate crimes and the division that may fancy up in the society on the basis of the selective schooling poor and the information rich. St James clean philosophy Centre describes ethics as the search for answers for the question related to what an individual ought to do (Anon., 2012 b). The centre comes up with some ethics that atomic number 18 associated with the professional behavior. On the other hand Rainer defines ethical issues as moral principles that the society understands and guides the conduct of its members (2009 p.23). He also postulates that it is doing what knows is the proper thing to do. The ethics include, one accepting his or her actions, one standing firm to an ide a he or she believes in, one having the courage to attempt tied(p) the most difficult questions and one developing a balanced and well-informed professional mind and conscience. honourable considerations include privacy, copyright, equity and access and freedom of information do (Anon., 2012 b). Social and ethical issues related to information and information systems include, accuracy of information and data, the changing nature of the work, privacy of an individual, data and information security, appropriate economic consumption of information, health and safety and copyright laws. Occupational Health and Safety Act 2000 stipulates that each and every employer should assure that the health and safety risks and hazards of their workers are minimized (Anon., 2012 a). The above social and ethical issues prompt people participate within the information and information system, individuals with a purpose with the information system and people within the information system environme nt.Pollack (2009, pp. 174) asserts that the users of information systems are most of the time as it affects their lives and as well affect information system. Users may non be part of the system directly but they affect it and are likewise affected by it. The major ethical concern that worries the users of the systems is that the systems do not use the users ad hominem information they input into the system for unethical concerns they may not wish their information to be employ for. Too Buckland (1999, pp. 19) outlines that it would be very unethical if the users of the systems use it in such a way that it was not intended for like to access other peoples personal information. Adamski (2007, pp. 15) defines privacy as a human value that consists of four key elements which he refers to rights. He divides these rights in two major categories the branch one comprises three rights which help an individual to guard him or herself against personal information seekers. They include sol itude, conversancy and anonymity. The other category stipulates the rights an individual holds to regulate the amount of personal information he or she gives out. The right involves reserve.

MPH503, Infertility and Public Health, Mod 3 Case Assignment Essay

MPH503, Infertility and Public Health, Mod 3 Case appellation - Essay ExampleThis paper will attempt to answer those questions in relation to the results of the Bragdon v archimandrite case.According to Bragdon v Abbot there is a right to reproduce, similar to the right to breathe. The case is proverb that reproduction is a major life function just like any other sensible function and a baulk related to reproduction is as important as a disability related to asthma (Walker , 2010). Further, the Code of Federal Regulations according to Walker (2001) states that any physiological disorder, or condition, nonfunctional disfigurement, or anatomical loss affecting genius or more of the following body systems Neurological, musculoskeletal, circumscribed sense organs, respiratory (including speech organs), cardiovascular, reproductive, digestive, genital-urinary, hemi and lymphatic, skin, and endocrine. As is noted, reproductive is listed.There is a lot of disagreement at the moment as to whether or not infertility is a disability, in fact, it appears that all of the states supreme courts cannot attend to agree. However, in this particular case, it was determined to be a disability and unless another case comes along and determines the results of this one to be incorrect, it will be considered by insurance companies and employers to be so.Certainly insurance companies must move by assuring that insurance cover infertility treatment. This source does not believe this will make it long. There will be another supreme court case to come along. It is not that this writer disagrees but certainly at the cost of such treatments insurance companies will either need to come along cost or find a way not to cover the treatment. It is thought that certainly around states will go for the attempt to get insurance companies to pay for infertility treatment, with the exception, possibly of self-insured cases.In roughly ways, mandating insurance to pay for infertility tre atment

Account for plagiarism in universities in English speaking countries Essay

Account for plagiarisation in universities in English speaking countries - assay ExamplePlagiarism is referred to as copying early(a) peoples ideas or words without boastful proper reference or credit. It is just a part of overall cheating problem.Subjective evidence and a couple of(prenominal) researches reveal that cheating among students is much more widespread than it is usually acknowledged. In 2009-10, as much as 17,000 students in more than 80 universities were recorded by universities as involved in plagiarizing. Nowadays, Plagiarism has convey a growing concern for universities. A large number of universities spend thousands of dollars in purchasing high-priced plagiarism detector softw ar so as to determine the percentage of plagiarism in an assignment. In order to overcome cost, many universities do not check plagiarism of every assignment since in that location are thousands of students with dozens of courses each year. Therefore, they prefer in checking plagiaris m of the most important assignments, dissertations and research text file only. The availability of all type of information over internet has made plagiarism easier than ever before. copy and pasting entire essays or few paragraphs from internet can be done in just few mouse clicks. Plagiarism is more common among university students since they face unanticipated pressures of deadlines. There are certain reasons which note for plagiarism in university students in English speaking countries. Some of them are briefly mentioned below. Ignorance Countries other than unite States may have taught different conventions and rules to their students, which differentiate from that of American Academy. Others merely might not know how to reword appropriately or they might believe that as long as they are providing references and inserting in-text citations, because it is pleasant to use the same language as mentioned in the source from where they are copying. One of the methods to fight i gnorance is to memorise students in elucidate regarding the convention of academic citations. It can be done by discussing about plagiarism in class, guiding students to the websites of writing centers and handing them out different material related to plagiarism. Writing difficulty imputable to lack of interest in studies, many students do not participate in class meet and home work. By doing so, they soon lose confidence in their writing skills and abilities. They feel that they are deprived of creative and good ideas as well as academic writing skills. Such students usually present writers block when they are facing the blank page. Since they lack confidence in their confess writing abilities, they feel they would not be getting good marks. Therefore, they tend to copy their assignment from other credible sources. Anxiety Anxiety can result from many causes. Some of them include tensions at jobs, fretting about writing, being overloaded with excessively many assignments, ce rtain issues at home, not completely concord the assignment questions etc. Such anxiety arise sense of laziness and carelessness among students. Since they cannot escape the disposed(p) assignments, therefore they tend to find relevant answers on internet and copy and paste those answers into their assignments as their admit words. Careless note-taking Many students do not pay attention in class and avoid note-taking of class lectures. Making notes of regular lectures can minimize the trouble of writing assignment, since they would have necessary points written in their notebooks with the help of which, they can prepare their assignments. Many students do not write notes while being in the class and therefore, when an assignment is given to them, they plagiarize. Lack of perceived consequences If a large number of students are cheating, then it also affects other students who are preparing their assignments by themselves. Such students feel discouraged since they are putting too much effort into their homework while others arent. Even worse, the students who plagiarize get good marks than those who are working hard on their assignments without

Financial Regulation Essay Example | Topics and Well Written Essays - 2500 words

Financial Regulation - Essay ExampleThis essay is organized as follows. Section 2 discusses the origin of global monetary crisis and its models in general as well as in the case of UK in particular. Sections 3 and 4 discuss the different dimensions of pecuniary regulation in UK and the reasons for their failure. Section 5 concludes the report.The financial crisis had its origin in USA with the sudden boom in housing prices creating high optimism among investors and lenders amongst 1990 to 2006.This resulted in the creation of many mortgages and fin solelyy as the hosing price boom came to an end in 2006, subprime1 defaults started rising. Since the households became unable(p) to repay their debts, the leading financial institutions worldwide had to write off their investments since August 2007. This deteriorated their balance sheet positions, which eventually resulted in a tightening of supply of credit to households and firms to finance their consumption. Thus, the financial crisis led to economic crisis which spreaded all over the world (Agarwal et al, 2008 Vyuev, 2008 Gwimmer and Sanders, 2008).Financial market regulation is mainly aimed at correcting market imperfection and ensuring allocative efficacy of resources (Giorgio et al, 2000). However, one major reason for financial crisis has been cited as the failure of regulatory system to cop up with the financial innovation that resulted in the crisis (Pan, 2009). The rising indebtedness of the US households and financial institutions during the years before the financial crisis increased their vulnerability to crisis. The complexity of highly sophisticated financial instruments like derivatives helped in spreading the financial crisis to countries all over the world. The inaccurate measurement of risk associated with the financial innovation also resulted in creating the financial crisis. The other main reasons for the financial crisis are identified in the literature as weakened lending practices,

Briefing Report on RKD Transport Case Study Essay Example for Free

Briefing Report on RKD move Case orbit EssayThis is a short briefing report based on research and critical analysis of various care literatures to develop solutions to the case study RKD Transport. As a graduate member of Business Consulting Group (BCG), I redeem been asked by the CEO to identify and treasure issues that be perceive to be affecting subject performance and cooperation at RKD Transport. The Managing Director (John) has asked BCG to review the point as described in the case study, and has requested a report assessing the situation with comment on the issues that argon raised and Johns proposed plan. This report also presents a range of options and recommendations as fended by research, which resolves the perceived problem about the implementation of Johns proposal a clear indication of the skills which stop be taught to cater members. As of the dependable data in relation to what is taking take aim in the world of study into formational behavior (OB) a nd management, the present line of thought and practice in OB programs contribute be applied to the case study. I. Point of View- graduate member of Business Consulting Group (BCG) devoted the case material, the group has decided to take the point of view of the BCGs graduate member on analysis to facilitate ease of recommending decisions to the management. II. Problem Statement The question posed by the case is frankincense What should the Managing Director, John do to effectively and efficiently introduce and implement his plan for the corporation? III. Background of the Study Organizational behavior is concerned on soulal and group dynamics in an institutional ambit and situation, everywhere and above the character of the association themselves.Reports pertaining to this, try to figure out and form the various factors when persons in the group interrelate with one an other. Comparable to both shared sciences, managerial studies seek to organize, forecast, and elucidate all the social happenings that are occurring in the given field, which can be taken as a initiative serving in institutional progress and success. According to Arnold (2005), examples of the problems that OBM directs on are security, output, quality, and aptness.SWOT Analysis is the sound judgement by the decision making person or group of Strengths, Weaknesses, Opportunities and Threats regarding preferred final aim or purpose of a task or rail line. The goal of every SWOT investigation is to recognize the forefront inner aspects, the strengths and weaknesses to the institute and outer features, the opportunities and threats exhibited by the outside setting to accomplishing the intention. The case study should be specify as an investigation technique, using SWOT Analysis involved in a project or in a melodic line venture, as stated by the MCRPC Regional Planning Commission (2005).Strengths are elements of the organization which are of use to r separatelying the goal of the man agement. The assets of the RKD Transport workplace are the following pecuniary and intellectual terms, site, infrastructure, and fundamental training. However, the weaknesses which are detrimental to attaining the purpose of the management are the following good organization, work appraisal of employees, developed methods for doling out with main fields of gentleman resources, poor at pulling arrive at consequences through undirected aid of individual vigor, and partial running skill and proficiency.The opportunities of the organization, on the other hand, are the following desiring to progress on the whole managerial efficacy through directorial growth and social organization line up and more broad supervision prospects entailing improvement of new executives. And lastly, the threats are the following valet de chambre resource input are not acknowledged by the upper administration who dodge it by making use of external advisors and transference having the result of eliminating units and removing intermediate organization strata to develop flatter parade of institution.IV. Alternative courses of action Organization project is a conventional channeled means for assimilating the personnel, information and tools of an establishment. It is apply to go with the structure of the corporation as thoroughly as feasible to the points the business pursues to accomplish. Through the design process, a corporation takes steps to expand the likelihood that the shared efforts of affiliates leave behind be exultant.Additionally, the concept of farm out design is important here which indicates the manner that a series of everyday responsibilities and conjectures, are structured. This crystallises easier to ascertain what, how, how many, and in what order the responsibilities are completed in connection with the organization. Its principles can also direct predicaments in the workplace such as labor under load, monotony, inadequate manipulation over occupation, defe rral in modify unoccupied stations, and partial perception of the entire work course (Jones, 2004).Executives essential use Organizational deportment Management since the achievement of the business is credited with the efficiency of their courses of action and the pleasant response of the staff, incorporating the key functions of management such as planning, organizing, leading and controlling (Buchanan, 2004). Here is a variety of options and recommendations which may be implemented to solve the particular problem of the company. 1. Change the type of leadership from paternalistic to democratic for the voice of the employees to be heard.John, the Managing Director of RKD Transport, moldiness intensify the way of administrating his subordinates. He must develop an employee-oriented method by act to motivate his employees rather than direct or control his subordinates (Burns, 2003). Furthermore, he would have to depend not exactly to his own capabilities but must encourage his own subordinates to participate, thus, resulting to developing managerial abilities of the subordinates.The style of leadership of John, indeed, can have significant impact on the performance and satisfaction of his subordinates so his leadership style should have the characteristic manner in which he makes decisions affecting his subordinates and exercises influence to elicit their compliance with, commitment to, and support for his directives. He must encourage his subordinates in decisions that affect them, forming a friendly, trusting, and respectful leadership with group members, and must act promptly with this said concern. 2. Make a prior notice that the manager would downsize employees of the work force.It is indicated in the case problem that labor turnover is low. In order to achieve effective control over direct labor costs, John must apply downsizing and layoff strategies. But he must make use of consensus first in making decisions for the company for the employees to b e given a chance to change their attitude towards work. These tone-beginninges for layoffs and downsizing will lessen the harm to those workers who will be laid off and to the employees who will stay behind. This also presents a practical prospect for a healthier outlook for the business and the business stakeholders.Downscaling in this way falls into the kind of administration means for accomplishing preferred ad erectment, a good switch like downsizing examination. The following factors must be considered in considering this Is the business being upright to its human elements? Has the necessary stipulation which may head to a number of complicated resolutions been conveyed to the businesss staff? Have the employees been able to supply input? Have the administration conscientiously supposed the outcome for those workforce? How will this influence those who may lose their work?How will this concern those who stay with their job? Does the outline for modification present the busi ness to attain improved outcome in the future? (Hickok, 2007). 3. The managing director would placid be strict and objective, and would monitor the employees himself. John would continue to be hard-working, spending time inspecting the personnel and meticulously supervising the business process by plotting strategies, captivating counteractive deeds of this customary viewpoint. But roughly conflicts may arise because in implementing this kind of procedure.Johns status here as the person in charge is at risk in view of the fact that discords from his subordinates may take place against him (Haslam, 2003). 4. Assign more supervisors which will monitor the employees performance. By this course of action, the personnel can be monitored salubrious if they are doing their jobs effectively and efficiently because they have to meet with the deadline. This could provide the management an objective assessment of each workers performance. It must be remembered that the input of workers in t he business is a crucial part in the success of the company.5. John must be further trained as managing director position in the company. To be considered an efficient and effective managing director, John must possess personality characteristics such as self confidence, aggressiveness, dominance, and adaptability. Additionally, he must also have the skills like sensitivity in dealing with others, intelligence, and job mastery which he can use in supervising his constituents. So he must be further trained to have these characteristics to become an efficient and effective leader.Successful directors essentially sets up a working atmosphere in which human resources would like to carry out their jobs properly. To realize the far more constructive work milieu, performance study edifies administrators on how to efficiently handle their positions as affirmed by Holman (2003). John may acquire the knowledge and skills though attending seminars, hands on training, and the like. 6. John must conduct research of the leadership style of former managers of the RKD Transport and examine what is the most appropriate approach in running the Management division.He must critically study the past records of the former managers of the company and their leadership styles and see what the best way of treating employees is during those times and apply it with the present situation, with the integration of interior appraisals of the business SWOT. This recommendation requires the enclosure of an evaluation of the current state of affairs, as well as the assessment of their extent. 7. RKD Transport pay rates must be adjusted to what the company can afford and are just right for the employees.Since workers perceive that the management was sympathetic to them, pay rates are considered high. Besides, there are other benefits offered to the employees by the company like sufficient compensation for shifting workers, provision for emergency loan, and many more. The conventional employee pe rformance system relies on direct supervision, the wage and salary compensation system, and annual performance reviews, deservingness pay increases and promotions as rewards for exceptional performance (Staw, 2004) though an indispensable budgeting aspect must be of swell consideration for the companys success.

Society Way Essay Example for Free

Society Way EssaySocieties have their own ways of working, and to prep atomic number 18 an exclusive to watch in those societies the person must has been socialized. Socialization is a process of how we learn the way of fiat. There ar agents that work to form an soulfulness in society such as family, parents, neighborhood, unearthly belief, and school. Those agents expect from an individual to act, think, and tone of voice in a plastered way, and romp federal agencys in life that fit the society.I am from Saudi Arabia. Society all oer there is nothing like other society, in my opinion. I can determine the similarity of societies, but mine has differentiations from other. I can say that above all agents of socialization religion has the most sham on individuals. godliness in my society is the center of everything I see it as the big tree and the other agents are branches.Family is number one priority in my society, so the impact that I receive from it is huge. Th e way I should greet my father and mother is based on family norms, so I have to follow that way. In family the old son is next in responsibility afterwards the father, so the role that he should play has to fulfill the duty of that position. I am the oldest son in my family, so I know what I am talking about. My father taught me to be mature in a young age so I can take care of the family. This kind of didactics considers socialization. He prepared well to live in such a society. So by doing that he expects a certain role from me to do.I see in my society another revolutionary agent, or maybe its a branch from the family, its the tribe. Tribe has a significant meaning to an individual in my society it is the source of the identity. So for that reason tribe plays a big role in how we, as members of tribe, act toward each other and toward society. Tribe is the extended family. We are siblings, because we share theseventh father. The draw of the tribe has control and impact on the members. He plays an important role of how we act as a group. When the leader honors a member because he is a very good poet, the poet has to feel happy. Controlling of feelings appeared over here, so I think the tribe is an agent of socialization. Also in big meetings and weddings we have to post in a typical way that suits our society no intermixing between men and women in weddings, no excuses for not coming to the wedding, and bring something for the groom and the bride. Parents tend to teach individual what the society expects from him/her. The teaching of the parents commonly comes in hidden messages form. They always remind the individual how his/her grandfather and grandmother behaved, and how parents followed that.This reminding is a message to the individual that he/she has to walk on the same steps to anticipate in society. Parents tell individual that its rude to interrupt someone while talking. That implies society has mores and we should respect them. The acquaint ance that the individual has from the parents is long-term experience, and it would play a major role in the individual choices, values, and faith. When I grew up in a Islamic family the expectations from my actions and thought are have to suite a Moslem society. Neighborhood for kids is like the soil for the plant. If the kids were deep-seated in a good soil they will thrive and bloom. The impact that neighborhood has on an individual is essential to the development of individuals character, motivation, and ideas. I grew up in a neighborhood that has a big mosque in it. I spent most of my time around that mosque with my coterie memorizing chapters from Quran and laws of Islam. That would be a very typical model of a Muslim society. The neighbors who see me going back and forrard to the mosque would greet me and cheer me up, and they may tell their kids to follow me. In neighborhood also individual learns how to stir his/her way through life, and that considers socialization.I l earned how to be carful not lose my control and behave when I am in trouble, because that could means I may cause damage to the repetition of my family or myself. Religion is the source of my society everything pours out of it. The behaviors, thoughts, morals, values, norms, and mores are coming from the Islam. The way my society judges anyone is based on rules and conditions of Islam. This major role that religion plays over here on society is obvious, even on those who are non-Muslims. They follow thegeneral rules of a society that they dont belong to its religion. The way I set is based on Islamic concept. I cant dress something too short over the knee in general places, it would be against the concept. Also women have to dress in a certain way if they want to go outside the house, even if they were foreign women. Appropriate attitude is required on such a society modesty is the general them. Ive been raised in a Muslim society, so the impact on me is huge and it influences ever y single thing lf my life. The way an individual greets someone in the street is based on religion, and if the individual doesnt greet it considers rude.Jamess (2012) we would break loose the point if we were to assume that religion influences only people who are religious. Religion plays a powerful role even for people who wouldnt be caught dead near a church, synagogue, or mosque. How? Religious ideas so pervade U.S. society that they provide the foundation of morality for both the religious and the nonreligious. (P79). Resocialization is how an individual learn new principles, behaviors, and tradition of a society. According to James (2012), Resocialization is the learning of new norms, values, attitudes, and behaviors to match the individual new government agency in life. In its most common form, resocialization occurs each time an individual learns something contrary to his/her previous experience (p. 82).In my society I didnt used to move hands with women, and that is base d on religious concept. When came to the U.S. in 2011 I faced a lot of women who are workers, and I have to greet them when I meet with them. At the beginning I used to say I dont shake hands, and I would see enrage in their faces. They think that I am disrespecting them, but the truth is that I am following the rules of my religion. Now in order of resocilization I shake the hands of old women only, I dont want them to feel angry on me. Studying with females also is resocialization. In my society boys are separated from girls in schools. I used to study with boys only. When came I here at the front day I was nervous about that, but with time I got used to it. That also is a process of resocialization.ReferencesHenslin, James, M. (2012). Sociology A down-to-earth approach. Eleventh ed. Boston, MA Nesbitt graphics Publishers.

Business related Essay Example for Free

Business relate Essay1. Define Marketing. What is marketing process as set out in your text book. exempt the various elements of marketing process. ( LO1 Assessment Criteria 1.1) 2. Select an organization of your choice, identify the marketing orientation it focuses on and estimate the benefits and costs of the marketing orientation for the selected organization ( LO1 Assessment Criteria 1.2)3. The Dunkin Donut Case ( LO1 Assessment Criteria 1.2) For more than 50 years, Dunkin Donuts has offered customers throughout the United States, and around the world, a consistent experience the same donuts, the same coffee, the same livestock dcor each time a customer drops in. Although the chain now offers iced coffee, breakfast sandwiches, smoothies, gourmet cookies, and Dunkin Dawgs in addition to the old standbys, devoted customers argue that its the coffee that sets Dunkin Donut apart. To keepcustomers coming back, the chain chill out relies on the recipe that founder Bill Ros enberg crafted more than 50 years ago.The conjunction is so have-to doe with about offering a consistent, high-quality cup of coffee that managers in Dunkin Donuts Tree-to-Cup program manage the progress of its coffee beans from the farm to the restaurant. The result? Dunkin Donuts sells more cups of coffee than any other retailer in the United States 30 cups a second, nearly one billion cups each year. Building on that success, the company plans to more than triple its current number of stores, amassing 15,000 franchises by the year 2015.What marketing orientation does Dunkin Donut take place here and why? Give reasons and justificationLearning aftermath/s achieved in the assignmentBy completing this assignment successfully, the student lead achieve the following learning outcomeLearning OutcomeLO1 Understand the concept and process ofmarketingAssessment Criteria1.1 explain the various elements of the marketingprocess1.2 evaluate the benefits and costs of a marketingorientat ion for a selected organisationGrading CriteriaPASSThe student volition be awarded a PASS course of action ifhe/she achieves all assessment criteriaMERITThe student will be awarded a Merit grade ifhe/sheThe learners evidence shows for M1 Identify and apply strategies to find suspend solutions effective judgements have been made complex problems with more than one variablehave been explored an effective come up to study and research hasbeen appliedDISTINCTIONThe student will be awarded a Distinctiongrade if he/sheThe learners evidence shows for conclusions have been arrived at throughsynthesis of ideas and have been justifiedD1 Use critical reflection to evaluate own work the validity of results has been evaluated using and justify valid conclusionsdefined criteria self-criticism of cash advance has taken place realistic improvements have been proposedagainst defined characteristics for success

Ambition to Become a Doctor Essay Example for Free

Ambition to Become a Doctor EssayEverybody has an calculate in life. Aim or pipe dream is the inner desire of man. No man can do anything in the world if his aim is not fixed. So, all of us should be very clear about our aim in life. We may face many difficulties in reaching our desired target, but we brace to go ahead at any cost. Ambitiousness is a dynamic make. Desire is your psychical susceptibleness to maintain your knowledge, surround, relationships, and personality to accomplish happiness. What is felicity? Compartment that can only be driven by the someone and in that respect are a countywide ranging scenarios and ideals that delimit felicity. We as humans want healthiness. Many dream on being rich, noesis and resplendence among their ambitions, but for me, to deliver human benign through treat is the maximal ambition of all. Aspiration is that desire that pushes us to usefulness at maximum level in the confronting of obstacles or challenges.I have already fixed the aim of my life and I want to be a doctor. A doctor lives a noble life.He is always at the service of suffering people.A sick man looks at him with the only hope of getting cured.The smiling face of a doctor makes the patient cheerful. A severe doctor is respected everywhere. If I become a doctor I lead be kind to the poor and the needy people. I will not charge any fee from them.Helping the helpless will be my duty and practice.I have studied biology and I will seat for the private-enterprise(a) tests for admission to a superb and reputed medical college.I shall try to be a good and sincere pupil and then a qualified doctor. I will do whatever it takes to be a good doctor and and will be sincere to it. After becoming a successful doctor, I have plans of setting up a clinic in a village. I never had any desire to settle and to metamorphose as a specialist, a physician, a gynecologist or an ear, search and throat specialiser.To be a intellectual unspecialised practitioner here, in my own base is the end of my imagination and, though not a specialiser in any peculiar area, I shall bang enough to can with the ordinary ailments of vivification and to play in the ethical specialists formerly if they are required. Although knowing the fact, the income from here would be pretty less, but making money will not be my main aim. Also version all these consequential services, I shall alsoacquire the capital of subsistence. I vow that I would be loyal to my duty and will give full respect to my job. Days are not cold off, I am trying hard to realize my ambition and I wish this dream of exploit would be fulfilled.

The Teacher as a Hero Essay Example for Free

The Teacher as a Hero stressT here ar torpedoes and hotshotes, guinea pig and local. Some of them ar born, others are do. Many are relieve living while many others have long been gone. It is to the latter that monuments and museums were built to keep alive their retrospect in our hearts and mind. Public buildings, parks and plazas, streets and a few provinces have been named after them. Important dates and events are usually marked red in the calendar to remind us of their birth or wipeout anniversary. During the celebration of these events, program speakers take turns extolling to high heavens whatever good they had done for the country.Sad exuberant the hero who is apparently taken for granted and therefore unsung is the poor teacher. Not having a pureblood name, she has no influence, no power. She is regarded as belonging to the marginalized sector of society. Tactless people look down on her with contempt saying, Shes only a teacher. After all, unlike OFWs, teac hers do not contribute to the national economy. What many do not seem to realize is that a teacher is truly a hero in her own way. For a teacher is not only or so her lesson plans, her teaching methods, strategies and techniques. A teacher is also about her personal character, her values and her attitude.And more importantly a teacher is also about her missionary work which entails a great deal of sacrifice on her part and her family. Indeed, the pro-bono services that she renders learn numerous risks to life and limb. We have heard of teachers who were kidnapped for ransom, forced into marriage under pain of bodily harm, physically abused and the unfortunate, even beheaded. I remember a male teacher who reprimanded a student for arouse trouble in class. That afternoon the huffy father with fire in his eyes sought the teacher in school and mercilessly hacked him to death.I had a relative who was summoned to the Comelec office in Manila and made to explain her inadvertence to affi x her signature on a pair of election forms. The financially disoblige teacher was forced to take a long-term loan which she used to pay for her transportation fare, room and lodging while in Manila. In the meantime her family had to be sparing and frugal in set to tide them over until such period that the loan was fully paid. While other government employees are off after five, the teacher spends long hours of work at home writing lesson plans, checking test written document or preparing visual aids and similar teaching devices.Compared to those who work in the comfort of their office, thousands of our teachers go on long hours of journey to their far-flung stations over hill and dale, many times in acetous weather condition. It is no wonder that many of these teachers become decrepit long before their age or they get pitifully sick before retirement from the service. And yet their take-home pay is a specified pittance. Any increase in their starvation salary comes far apart a nd in trickles because this is dependent upon the members of sexual relation who remember the teachers only on election time.Come May of next year teachers will once more be called upon to man the electoral ramparts of our democracy. They will be there to help safeguard the sanctity of the ballot, gird only with the nobility and integrity of their profession. Whatever people say to the contrary, the teacher as a hero is ready to lay down her life for the sake of country sans a loud flourish of trumpets. I salute our teachers as heroes, living or dead ANTONIO A. MORAN of Camalig, Albay is a retired general education supervisor of the department of Education.

The kite runner Essay Example for Free

The kite runner EssayLeesh bear Friendship with a Kite The desire for companionship comes quickly. Friendship does not. Aristotle In The Kite outset, the theme of mavinship is probably genius on the most obvious themes to spot. The book is centered around the friendships made, and how the friendships will test their true trueness and sometimes even their lives. According to Mark Vernon friendship is a complex thing. He says this A knockout burden is placed on friendship. We turn to friends for our happiness. Some say they trust friends more than family.And there atomic number 18 those who want to marry their outflank friend a very novel idea. Then, in the networked age, we believe, or hope, that friendship is elastic enough to connect us across the web of complex lives, and strong enough not to snap. But is it? For whilst friendship offers oft, few ask about its perils and limitations, as well as its promise. This relates to The Kite Runner almost perfectly. As it wo uld tor any book dealing with the hardships and tests ot friendship, but somehow this one seems to fit best with this novel. one of the characters who reflects a lot on friendship Is emeer.amir not focusing so much on his friendship, but the question of friendship completely, how two people of ifferent races, one accepted by monastic order and the other outcast can be friends. But In none of his stories did Baba ever refer to all(a) as his friend. The curious thing was, I never thought of Hassan and me as friends either. Not in the rough-cut sense anyhow Because history isnt easy to overcome. Neither is religion. In the end, I was a Pashtun and he was a Hazara, I was Sunni and he was Shia and nothing was ever passing game to change that. Nothing. When Hassan talks about friendship or more so reflects on it, he comes from more of a third party outsider smudge of view. He never really goes into detail, but the author ets us know he is caring and forgiving. Hassan writes garner t o Amir filled with warmth and nostalgia for their time in Kabul. Somehow, Hassan never thinks to hold a grudge against Amir. Its inconceivable its simply not part of the makeup of this character. (shmoop. com) Even though they come trom different back rounds the readiness that they are Ilke brothers Is really nice to see.Though the time they live In their friendship Is considered bad, they pursue It anyways. galore(postnominal) trials their friendship faced, yet they continued to keep eachother close. Then, when Amir attempts to fit Into society he leaves Hassan behind. Someone who he was so close to for so long. Too late we learn, a man must hold his friend unjudged, accepted, trusted to the end Oohn Boyle OReilly). Hassan was the one who helped Amir choose the path of his future career. Amir had taken service of the friendship between Hassan and him.He made fun of him whenever he had the chance, but Hassan never took it to heart and until now perceived Amir as his best frie nd. One day while he read to Hassan, Amir made up the ending of the story and Hassan loved it. He utter, That was the best story youVe read me in a 1 OF2 Hassan was both physically and mentally stronger than Amir. According to Baba, Amirs father, there was something wrong with Amir since his birth. Amir never stood up for himself and he was different for the fact that he liked poetry, something that Baba believed was not normal for a young boy.One day while Hassan and Amir were walking towards their tree, they came upon Assef and his friends. Assef was the son of one of Babas friends, an airline pilot. He was known for his brass knuckles and wanted to start an argument with Hassan and Amir. Right before he was going to hurt them, Hassan grabbed his slingshot and aimed it right at Assefs left eye. He let the boys go but said he was going to get revenge. This part of the story foreshadowed an event that occurred later in the story in which Amir and Hassans lives were changed forever.

Gregorian Calender Essay Example for Free

Gregorian Calender EssayIn every twenty-four hour period life, individuals function with a schedule. schedules help organize daily events, special events, upcoming events, holi geezerhood, seasons, etc. at once in the United States the modern and common schedule that is utilize is cognize as the Gregorian schedule. Previous to the Gregorian calendar, the Julian schedule was used. Both calendars atomic number 18 similar in some ship johnal as well as polar in others, along with sharing some advantage and disadvantages to fox one calendar more useful in like a shots modern world. Gregorian CalendarThe Gregorian Calendar is currently the close internationally real calendar, (TimeandDate, 2013). Other cognise names for the calendar potbelly be known as Western Calendar and Christian Calendar. Pope Gregory bakers dozen first introduced his findings of this new calendar in February of 1582, which the calendar was then named after him. The solar days of the calendar w ere roll together strictly from a solar plan. The calendar has 365 days in the year that make up the 12 different months. Each of the 12 months is irregular in the number of days that each contain. vii of the months hold 31 days, five of the other months have 30 days, and the month of February has the least amount of days being 28. Although the month of February composes of 28 days, every 4 years Leap Year occurs adding an extra day to the year making February have 29 days in the month. Every three months of the calendar the seasons alternate of the 20th day of the month. This calendar is the most constant and stable calendar at the moment. Julian Calendar Before the Gregorian Calendar was the Julian Calendar which also replaced the Roman Calendar.One of the reasons it has been known that the Roman Calendar was replaced was due to how complicated it was. Previous to the Julian Calendar the Roman Calendar was known to be complicated with how to figure when the seasons should begin and what days should be kept or added. To help sire the problem, Julius Caesar worked with an astronomer by the name of Sosigenes to put together a calendar based more on the Sun and Earth. This calendar became known as the Julian Calendar which is rather similar to the calendar that is accepted and used today.It has the commonly used 365 days of the year that are also divided into the 12 different months. Every four years, leap year occurred in one of the months just like it does in todays calendar. Advantages and Disadvantages Between both calendars there are some advantages and disadvantages to how the calendars work. A disadvantage that others feel from the calendar is the days holidays may land on. Some holidays such as Christmas or Thanksgiving cannot be changed which can lead to them landing in the middle of the work week.Holidays falling on days like this can prevent individuals from making plans to be around loved ones due to work or school schedules. some other disadvant age is the irregular days of the month. Not every month has the same number of days and sometimes it can interfere with a budget or the cost of life. However, an advantage is the way the calendar is setup. Seasons are always every three months no matter what and the holidays never change. This type of stuff is always guaranteed and cannot be changed. Most Useful in Modern Society Both calendars are really close in similarity.In a way both calendars actually could be used in modern day society since individuals are so known with how both calendars work. However, since people are just more familiar with the term Gregorian Calendar and since this calendar is currently more up to date, the Gregorian Calendar would most likely be more useful in todays culture. Although there are many other types of calendars used in the world that can be compared to the Gregorian Calendar, this calendar has been found to be the most internationally accepted civil calendar of today, (TimeandDate, 2013).

Nature of Partnerships Essay Example for Free

Nature of Partnerships EssayNature of Partnerships When jump a line of descent, it can be with a sole proprietorship, a collaboratorship, or as a company. A partnership is the most popular and the easiest to form. Partnerships combine individual talents and skills together for a hopefully successful business enterprise venture. Man has realized that it is easier to do something with the help of others than singly. Partners, also, provide a greater chance of obtaining righteousness hood for their business venture, while sharing the risks that go along with a rapidly growing business. in that location are basic all(prenominal)y three types of partnerships the general artnership, the limited partnership, and the limited liability partnership. This paper discusses the general partnership. The description of a partnership is the association of devil or more persons to carry on as co-owners of a business for profit . Partnerships may be formed as a formal agreement or inform ally with a handshake. Either way, a partnership agreement should be written up with all the aspects of the partnership covered.Once the partnership agreement is filled out and agreed on by all partners, each partner will need to sign stating they are in agreement. A artnership agreement helps to exempt any conflicts that may arise at any future date. When accounting for a partnership, it will estimate on the accounting method stated in the partnership agreement. If any noncash as set ups were contributed, these will need to be assigned a fair value. Any noncash assets brought to the partnership are the property of the partnership . Each partner investing capital will have to be agreed upon by all partners.This investment will determine the ratio or percentage of net profit or loss to be divide between each partner. If thither is no ratio or ercentage stated in the partnership agreement, accordingly everything is divided equally. When setting up the accounting for the business, most accounting methods have multiple accounts for each partner. These accounts are the capital account, which shows the initial investment of each partner, the drawing account, showing any withdrawals get ton over a years time, and the loan account, where partners can take a loan from the business.The capital account can be maintained in two different ways the fluctuating capital method or the set(p) capital method . The division of net profit equally. To account for this division, say S, T, and U decided to set up a partnership. S contributes $40,000, T contributes $30,000, and U contributes $30,000. This would be a ratio of 433. The total contributed to the partnership is $100,000. Profit for the first year is $300,000. Because the ratio is 433, Ss net capital would be $120,000. T and Us net capital would be $90,000 each, for a total of $300,000.If the partnership decides to check a partner, whatever was determined in the partnership agreement will determine what steps to take for adding this new partner. Adding a new partner normally adds profitability. If the partners decide to cease operations, there are two alternatives to help them decide which approach is better for the business liquidation or dissolution. village refers to the complete barter of the business assets and dissolution refers to the closure of a business, often on voluntary terms of the business owner. Liquidation means that the business is closing its doors and liquidating all noncash assets and liabilities. Dissolution may mean that the partnership is dissolving and a new partnership, another partnership or business is buying out the business, or the business is dissolving. When considering dissolution, there are two types, a proficient dissolution and a general dissolution . A technical dissolution is when there is a change in the composition of the business. A general dissolution is a complete dissolution or winding up of the partnership and the business.The dissolution may resul t with a mutual agreement of all partners, a partner being served notice, a court order, fraud, misrepresentation, or abominable activity, or where the business is not making a profit. Whether liquidating or winding up a business, transactions to process are the collection of receivables, conversion of oncash assets to cash, payments to creditors, liabilities closed out, and the remaining distribution of net balance to the partners, in cash . When starting a business with a partnership, it is with the intent purpose of longevity.

Branches Of Biology Essay Example for Free

Branches Of Biology EssayLevels of reed organizationWhy do we need to learn about levels of shaping?Helps us to understand how our world fits in concertHelps us to organize the structures of spiritedness systems and how they totally work together1. Organelles little organs Small structures inside of a cell that perform a specific function. Examples involve mitochondria, nucleus, and Golgi body2. Cell- Basic unit of structure function in animation. Cells are the building blocks of all life sentence things.3. Tissue A group of the same kind of cells working together for a specific determination4. Organs A part of an organism made up of tissues that do a specific job.5. Organ Systems A group of organs that work together for a specific job.9. Organism Any living thing.10. Population -A group of the same organism living together. This forge is often utilise to describe the surface of the group. 11. Community- Several populations living together and interacting in some way. 12. Ecosystem All the biotic communities plus all abiotic factors. consequence OF PHILOSOPHY The word philosophy is derived from the Greek words philia (love) and sophia (wisdom) and means the love of wisdom. Pythagoras was said to have been the offset printing man to call himself a philosopher in fact, the world is indebted to him for the word philosopher.It is said that when Leon, the tyrant of Philius, asked him of who he was, he said, a Philosopher and he likened the Philosopher to spectators at ancient games. Before that time the wise men had called themselves a sage, which was interpreted to mean those who recognise. Pythagoras was more modest. He coined the word philosopher, which he defined as one who is sampleing to kick downstairs out. According to him, men and women of the world could be classified into 3 groups (1. those that love pleasure) (2. those that love activity) and (3. those that love wisdom.) import OF PHILOSOPHY. Philosophy is the study of general and fundamental problems, such as those connected with existence, knowledge, values, reason, mind, and language. Philosophy is the rational attempt to formulate, understand, and answer fundamental skepticisms.NATURE OF PHILOSOPHY1. Philosophy is a set of kens or beliefs about life and the universe, which are often held uncritically. We refer to this sum as the informal sense of philosophy or having a philosophy. Usually when a person says my philosophy is, he or she is referring to an informal personal attitude to whatsoever topic is being discussed. 2. Philosophy is a process of reflecting on and criticizing our most deeply held conceptions and beliefs. These two senses of philosophy having and doing can non be treated entirely independent of each another(prenominal), for if we did non have a philosophy in the formal, personal sense, then we could not do a philosophy in the critical, reflective sense. Having a philosophy, however, is not sufficient for doing philosophy. 3. Ph ilosophy is a rational attempt to look at the world as a whole. Philosophy seeks to combine the conclusions of the various sciences and charitable experience into some kind of consistent world view.Philosophers proclivity to see life, not with the specialized slant of the scientist or the businessperson or the artist, but with the overall view of someone cognizant of life as a totality. 4. Philosophy is the logical analysis of language and the illuminance of the meaning of words and concepts. . Certainly this is one function of philosophy. In fact, nearly all philosophers have used methods of analysis and have sought to clarify the meaning of terms and the use of language. Some philosophers see this as the main task of philosophy, and a few claim this is the only legitimate function of philosophy.5. Philosophy is a group of perennial problems that interest people and for which philosophers always have sought answers. Philosophy presses its inquiry into the deepest problems of huma n existence. Some of the philosophical questions raised in the past have been answered in a manner capable to the majority of philosophers. Many questions, however, have been answered only tentatively, and many problems remain unsolved. What is truth? What is the distinction between by rights and wrong? What is life and why am I here? Why is there anything at all?IMPORTANCE OF PHILOSOPHY1. The study of Philosophy enables us to think carefully and clearly about grand issues. 2. In studying Philosophy, we learn to take a step back from our everyday thinking and to seek the deeper, bigger question which underpins our thought. 3. The focus in the study of Philosophy is to learn not what to believe, but how to think. 4. perusing philosophy sharpens your analytical abilities, enabling you to identify and evaluate the strengths and weaknesses in any position. 5. It hones your talent to construct and joint cogent arguments of your own. 6. It prompts you to work across disciplinary bou ndaries and to think flexibly and creatively about problems which do not present immediate solutions. 7. Because philosophy is an activity as much a body of knowledge, it also develops your ability to think and work independently.BRANCHES OF PHILOSOPHYHistorically, philosophical concerns have been treated under these broad categories 1. Logic, 2. Metaphysics, 3. Epistemology, 4. Value possible action A. LOGIC Logic is the systematic study of the rules for the correct use of these supporting reasons, rules we can use to disunitegood arguments from bad ones. Most of the great philosophers from Aristotle to the present have been convinced that logic permeates all other branches of philosophy. The ability to test arguments for logical consistency, understand the logical consequences of certain assumptions, and distinguish the kind of evidence a philosopher is using are essential for doing philosophy12. B. METAPHYSICS Another traditional branch of Philosophy traditionally know as metap hysics. For Aristotle, the term metaphysics meant first philosophy, discussion of the most universal principles later the term came to mean all-embracing thinking about the nature of things. It means, usually, the study or theory of human beings. The question of metaphysics is what is reality? What is real? Is reality some kind of thing. Is it one or is it many? If it is one, then how is it related to many things almost us? Can ultimate reality be grasped by five senses, or is it supernatural or transcendent? Metaphysics undoubtedly is the branch of philosophy that the modern student finds most difficult to grasp. Metaphysics attempts to offer a comprehensive view of all that exists. It is concerned with such problems as the relation of mind to matter, the nature of change, the meaning of freedom, the existence of God, and the belief in personal immortality.13. C. EPISTEMOLOGY The technical term for the theory of knowledge is epistemology, which comes from the Greek word episteme , meaning knowledge. In general, epistemology is the branch of philosophy that studies the sources, nature, and validity of knowledge. There are three central questions in this field (1) What are the sources of knowledge? Where does genuine knowledge come from or how do we know? This is the question of origins. (2) What is the nature of knowledge? Is there a real world outside the mind, and if so can we know it?D. VALUE THEORY Value theory is the branch of philosophy that studies values. It can be subdivided into ethics, aesthetics, and social and semipolitical philosophy. In broad terms ethics concerns itself with the question of morality. What is right and what is wrong in human relations? Within morality and ethics there are three major areas descriptive ethics, normative ethics, and metaethics. descriptive ethics seeks to identify moral experience in a descriptive way.We seek to identify, within the scope of human conduct, the motives, desires, and intentions as well as ove rt acts themselves.

Fossil Fuels and Global Warming Essay Example for Free

Fossil Fuels and global Warming EssayThe use of fossil fuels as the primary source of energy has unwittingly arrive human organismsity into its greatest ch totallyenge yet. As oil and coal atomic number 18 burnt up, the greenhouse gases are causing the melting of polar ice, leading to a chain reaction that threatens every other opinion of the ecosystem. This paper looks at the crisis that fossil fuels view as brought about, as well exploring existent and proposed solutions, both at the incarnate and the individual direct. Introduction Global thaw technically refers to the everywhereall rise in global temperatures. Its general use however too encompasses the courses of this rise in temperatures and the put togethers thereof. More importantly, it is synonymous with the role of human beings activity in contributing to these rises. Carbon emissions from planes, cars and industrial plants rise up into the atmosphere and create a blanket of heavy air that traps light up t hat radiates onto the earths surface. By not letting heat escape, over time the orchis be surveys warmer. This has a direct effect on the flow of ocean currents, like a shot responsible for weather patterns.It in addition causes the melting of polar ice, which besides also affecting climate, also causes the ocean t rainwaters to rise. (Guggenheim D Gore Albert, 2006). Effects of Global Warming Some critics are skeptical of the whole mental picture of global warming. Despite this criticism, it has grabbed the attention of masses, and they are increasely examining its do. The following is a brief insight kitchen-gardening is fundamental to life, as it is the source of regimen. Without food, human beings are at risk of extinction, and conflicts are bound to arise. all the same global warming is threatening agriculture. Due to climate change, the environments where bees and other creatures vital to pollination are apply to dwelling in are no longer suitable, and the bees are d isappearing in droves. More than that, rain and sunshine patterns are changing, rendering farmlands unsuitable for the jogs that are used to growing there normally. The combined effect is that agricultural yields are negatively affected, and there arises a shortage in overall submit of food worldwide.In early 2008, with the human race hungrier, food prices rose to their highest levels ever, and inflation in m any countries became unprecedented. This edit came to a head at the beginning of 2008, with riots and revolts in numerous countries. In the Philippines, soldiers were deployed to guard food crop farms from being raided. Haitians on their part overthrew their government in protest over untenable food costs. It is also here that people were thin outd to eating mud, if notwithstanding to fill up their stomachs. Similar scenarios were reported in Sierra Leone, Nigeria, and a good number of Asian emerging economies.Global warming is not the only factor in bringing about food s hortage, but it does play a major role, and has come to the attention of masses around the globe that are testamenting to act to mitigate the negative effects (Auken, 2008). Another set of negative effect that has been tied to global warming are the now overabundant natural disasters pounding various parts of the world. Hurricanes that have brought devastation to New Orleans, Mexico and more recently Jamaica over the past few seasons have been the worst in recorded history.They have been attributed to rises in sea level resulting from glacial melts owing to global warming. They have brought unprecedented destruction, forcing many coastal cities to adopt spick-and-span strategies to contend such events. Billions of dollars are now being invested in disaster prevention, and are resulting in an increase in taxation. Similar amounts are being invested in reconstruction efforts to restore damaged infrastructure. Housing models are being solutionly changed, with cheaper housing being favored to cut losses in case of any eventualities. normal Solutions Such tools as degree centigrade footprints and green qualifications are now being busy to influence the bearing of the common person to contribute toward reducing their personal negative impact on the globe consumers in Europe and America are increasingly becoming conscious to purchase food with token(prenominal) snow footprints for example. Carbon footprints refer to the amount of carbon paper dioxide emitted during the process of developing a product from scratch to the tailor where it gets to the consumer.In effect, products which use plenty of machinery to produce and have to be transported by heavily fuel dependent way of life such as planes and trucks have much higher carbon footprints than those that are produced using minimal fossil energy and are close to the market. Labels indicating the carbon footprint are put on products by organizations who take the initiative, in a bid to persuade consumers to buy the least destructive products. And the method seems to be flirting.In Europe especially, consumers are increasingly cutting on their contributions environmental degradation and products with high carbon footprints and finding increasingly limited market. Closely related is the issue of organic foods. These are gaining preference for the priming coat that they are produced using only natural real(a), rather than chemicals that are hazardous to human beings and detrimental to the environment. The level to which a product is free of chemical toxicity is referred to as its organic rating, near like carbon footprints are used to depict the level of carbon emissions of a product.Publications and other forms of media are used by proactive organizations to sensitize the public on which products are environmentally friendly, and these do have a major influence on consumer choices. The result is that farmers serving the European markets are using increasingly less machinery and c hemicals, thereby reducing the emissions and chemical pollution of the agricultural industry to the environment. Manufacturers also have to adapt to a new way of production- with their carbon footprints being closely monitored, they are increasingly adjusting their production processes to get favorable ratings (Organic softwood Association, 2008).My Solution Proposal In the fight against global warming, I believe efforts should now be gear toward try outs on entirely new lifestyles and forms of organization, with successful experiments being replicated across the globe. In my case, I propose an experiment with a new eco city, preferably in an waterless area, at a waterfront (e. g. a lake) for sustainability of life. This will knock down quite a few birds with one stone, as the problems of food insecurity, unsustainable energy and wasted land would all be addressed. ImplementationIn designing such an urban development, cutting edge technology and radical thinking are required at every step of the way. Ecological urban planning concepts are necessary to take advantage of the lake piece of cake, which can be harnessed for wind energy to cater for a significant part of the new citys energy requirements. The city plan should also part with for the breeze to penetrate the streets and residential areas rather than block it. When this is done, ecological architecture can be employed in designing self-cooling buildings, which have the advantage of not only saving on air conditioning.This is preferred because it both saves on energy and preserves the environment, seeing as approximately air conditioners are environmentally harmful. The urban plan also needs to take care of existing ecosystems if there are any streams, trees or wildlife habitations, the city and building designs should be made around them. Buildings will need to be fitted with solar panels to take advantage of the abundant sun in arid lands, thus further adding to the energy supply provided by wind. Wherever possible, buildings should have green roofing.This is where gardens are made on top of roofs for purposes of food, beautification and more. This will have a number of advantages food will be more abundant, a cool microclimate will be created (further reducing the need for air conditioning), and the carbon footprint will be drastically reduced or eliminated. The buildings can also be constructed with double walls using recycled material (for sustainability). Double walls have the effect of retentivity temperatures low when its hot outside and warm when its cold outside.Stretches of idle land just outside the city can be used to plant ecologically friendly biofuel crops such as Jatropha Carcus, which is drought-resistant, to complete whatever energy requirements that may remain. Being at the lakefront, clean water for most chores might prove a challenge to get, thus the need to preserve and recycle whatever water can be harnessed. One of the ways to do this is by use of a Sewerage interposition Plant (STP), which filters sewerage to produce water for irrigation and gas for cooking.This way, other clean sources of water can be less burdened. Energy needs will also be met. Gardens and parks should be organic to reduce the amount of fertilizer and chemical pesticides necessary to maintain them. Sustaining the Gains All the outlined gains of an eco-city would be to naught if the residents do not sustain them. Residents should be encouraged to carpool when going to work, or better still to cycle to work to minimize the carbon footprint. As much as possible, recycled material should be used and other material should be recycled.The use of plastic bags should be banned, instead encouraging the use of bio-degradable baskets. For lighting, energy-saving fluorescent bulbs and tubes should be used. for each one home should have a garden in its compound, with at least a tree or two. The gardens, for domestic food consumption, should be grown organically. The beach area should be kept clean, with no littering or dumping of chemicals or effluent into the lake. This will help preserve marine life and overall aesthetical beauty. If such a city can be constructed, myriad gains will have been made imperious Environmental affectThe immediate impact of all the new vegetation the green roofs, home gardens, biofuel crops, etc would be the creation of a cool microclimate in the developed area. Being in front of a lake, the arid land as it currently is cannot benefit because all the moisture being brought in by the breeze either e dehydrationates or travels long distances inland, benefiting other areas with vegetation. With the new vegetation however, the moisture would be trapped, and as the plants perspire, vapor would rise into the local sky, thereby creating rain at that local level.The overall reduced heat levels would also slow down evaporation rates, ensuring that the soil remains moist, helped also by the increased rain. Naturally, more rain is bound to increase vegetation cover, further enhancing the value of the land and creating a positive cycle. Positive Impact on Soil As the vegetation grows and dies, the soil would be enriched organically as the foliage decomposes, increasing its productivity. This happens when the decomposed foliage shimmers into humus, and mixes with the local sand. This has the effect of bonding the soil together while creating an acceptable level of drain and porosity within it.If the soil is further enriched with the waste products of the STP process, the overall composition of the soil will become highly favorable to agriculture. It would also be conducive for worms and other soil organisms to grow, which in turn further enrich the soil with vital nutrients. Positive Economic Impact Another area of dim impact will be sparing from the time of construction right through to the establishment of offices and residences, affair opportunities will abound for both locals and immigran ts.The eco-friendliness of the area will also attract investment a kitty of which these days is conscientious thus spurring growth. Being at the lakefront, the city is also highly believably to attract considerable international tourism as tourists seek clean and new areas to escape from pass or simply to unwind. At the same time, the marine fishing industry is bound to experience a boost from the clean fishing areas, with ready market locally provided by residents within the new city. They may even be able to export, depending on other factors.At the domestic level, people will be able to grow food and reduce their household budget. They may even be able to deal out some of it and generate income the city can be a net exporter of food. Conclusion Global warming has blessed the world with a lot to ponder upon. With effects ranging from food shortage to natural catastrophes, temperance should not be a question of whether, but how and when. Coupled with this is the need for ne wer energy sources, to reduce the globes dependency on fossil fuels. With concerted efforts and due diligence, the problems that these two factors portend can be contained to an extent.I propose an experiment with an eco city built on a waterfront as a means of studying how human beings can adopt a top down approach to addressing these pressing issues. I believe the gains to be made will not just be environmental but economic as well. Works Cited Associated press, June 20th 2007, Fossil fuels Tycoon plans largest wind farm- green machines- MSNBC. com, Retrieved twelfth Feb 2009. , http//www. msnbc. msn. com/id/19231397 Auken, B. V, 15th April 2008, Amid raise food crisis, governments fear revolution of the hungry, Retrieved 11th Sep, 2008, http//www. wsws. org/articles/2008/apr2008/food-a15. shtmlThe British Council (no date). Effects of Global Warming Social Impact-Climate Change. Retrieved twelfth Feb 2009. http//www. britishcouncil. org/climatechange-fact-sheets-global-warming-s ocial-impact. htm Green Africa Foundation, 2008, Retrieved 12th Feb 2009, http//greenafricafoundation. org Guggenheim D, Gore Albert, 2006. An Inconvenient Truth (Film) Organic Trade Association (2008). NOSB Definition of Organic. Retrieved 12th Feb 2009. http//www. ota. com/standards/nosb/definition. html United States Environmental Protection Agency, Heat Island Effect. Retrieved 12th Feb 2009. http//www. epa. gov/heatisland/

Strategies to Sustain Competitive Advantage

Strategies to get beneath individuals skin Competitive undecomposedQ1 Using an appropriate regulate, evaluate the assembly line model of a union of your election, describing how the community differentiates itself from its adversarys and sustain belligerent advantage.1. Executive SummaryCummins started off as diesel motor engine manuf toururing come with since 1919 and straighta effect growing as power drawing card in the world. Cummins expand ne iirk by means of lodge- owned distri exclusivelyor, autonomous distributor and bargainer to table service node globally. In 2009, Cummins reported net income of $428 million in $10.8 meg of gross r neverthelessue 1.Cummins possess been diversifying its line of credit to resistant range of intersections from power generation, filtration applied science, turbo engineering science, fuel system, emission controls and send handling 2. Due to out-of-door pressure and growing trade in Asia, Cummins recently setup Centre of nice in capital of capital of capital of Singapore taper much on leatherneck and Offshore market place place. In this post module identification, militant system exit entirely sharpen on Cumminss shipboard soldier and offshore work. In this PMA, the pass judgment curve is establish on own perseverance experiences assumption. all the same, depth psychology on financial bequeath found overall Cummins disdain listed in stock market which named CMI.1.1. Vision StatementMaking peoples lives burst by unleashing the Power of Cummins 3. Cummins desire in by gaining saucily technology go out lead to go against living for the people.1.2. armorial bearing StatementCummins mission statement as quoted be wiped out(p) 3Motivating people to act regularised owners workings togetherExceeding node expectations by always being first to market the best cropsPartnering with our customers to take on sure that they succeedDemanding that everything we do leads to a cleaner, healthier, safer environmentCreating wealth for all stakeholders.1.3. Cummins contrast with Industrial leader write in code 1 Financial Analysis CMI Vs Industry Leader 4 infix 1 shows over muckle financial analysis of Cummins (CMI) oppose within diligence leader 4. Cummins rank 35 among 379 diversified machinery industries in industrial goods argona for market ca tick offalisation. Cummins stock quantifys growing more(prenominal) than than triple over the previous(prenominal) 3 geezerhood and promise future growth with its task schema 4.1.4. sea dodgeOcean schema has been introduced by W.C. Kim and R Mauborge since 2004. Starting then, this dodging is adopted and implemented winningly in miscellaneous arrangings globally. Recently, Malaysias Prime see Datuk Seri Najib Razak shared his experience on Ocean system when dealing with increasing wickedness in the rustic 5. He is apply docile Ocean Strategy as management tools in site to instigate think ing out of the box. Key successful activities such as leveraged untapped resources when re laid law of nature with soldier doing patrolling slightly countrys b night surpassographic elevation and conduct dressing for new-fangled police force in the underutilised force facilities. This initiative fork up a lot of m integrityy from government and promote cross functioning social occasion among government agency 5.The principle of the ocean outline is treating market as universe. thither are two oceans availcap competent in the universe named red Ocean and blue-blooded Ocean. Red Ocean delimit as known competition. In this Ocean, overlap is already well defined and competitors only able to compete with expense 6 .Customer expectation on the ware almost generic and non much technology backside be begining in this stadium. For diesel engine in marine and offshore market, the competitors for Cummins accommodate Caterpillar, MTU and Mitsubishi. How Cummins net to-d o trough fix market leaders?Cummins apply Blue Ocean Strategy when dealing with its parentage. Blue Ocean Strategy defines as untapped market which no competition and industries that do not make it at this advert of time 6. This in return impart resulting utmoster kale compare with customary approach. This clearly shows in W.C. Kim and R Mauborge holds on note launches in 108 companies. They summarize r take downue and profit tinct of business launches shows in Figure 2. In this show, 86% business launches within own boundaries (Red Oceans) and 14% business launches looking for new opportunities (Blue Oceans) 6.Red Oceans approach contract on existing customer by upward(a) their fruit and ponder shows that this resulted 62% on total revenue and 39% on total profit. In contrast, 14% of the businesses launches by creating blue oceans can bring in grittyer return which to the highest degree 61% of the total profit 6.Cummins sp can heavily on research and victimizati on for past 5 years as shown in Figure 3. In 2010 al bingle, Cummins invest 414million in new technology knowledge 2. un sufferable of recent Blue Oceans initiatives is setting Marine and Offshore Centre of Excellent in Singapore. This business focus on the exercise or else of sell conventional attribute of bare diesel engine ex deepenable early(a) competitor such as CAT, MTU and Mitsubishi. Figure 4 shows pictorial view on the value added components into bare diesel engine1.5. Strategy CanvasFigure 5 shows scheme canvas of the marine and offshore diesel engine. X-axis represents critical success factors of the markets competition and Y-axis correspond to values perceived by marine and offshore customer.Marine and offshore is a mature and establish market. Engine makers always compete with legal injury, image, brand, delivery, crossing coiffureance and serve well availability. Cummins performs averagely in critical successful factors. However, in order to compete in t he belligerent market, Cummins break through conventional way by creating new team to focus on intersection point value added specifi wishy for marine and offshore customer. Cummins applied Blue Ocean scheme.Figure 6 shows Red Ocean strategy from former(a)s diesel engine maker and Blue Ocean strategy from Cummins.Q2 Using all Porters generic strategies or the Strategy Clock, identify archetypes of organizations fol pooring strategies of differentiation, hap slight damage or showtime price, and stuck-in-the midway or hybrid. How successful are these strategies.2. Porters 5 forces generic StrategiesUsing the quintuple forces framework, creative strategists whitethorn be able to spot an industry with a good future before this good futureis reflected in the prices of acquisition candidates Michael Porter 7.Porters five forcesThreat of New Entrants Analyse latent new comer to market is alpha to understand potential future competitorsBargaining Power of Buyers Buyers is the party that create admit for industry, understand buyers unavoidableness result care to maintain agonistic advantages. For example, bargaining power of buyers is high if harvest-time is standard.Threat of allayer products or armed good Buyers always look for alternative or cheapest way to get products or improvement. respite product can bring the overall industry price getBargaining Power of provider Supplier come out bare-ass stuff and nonsense or service to shaper. Bargaining power of supplier is high when to many buyer and less supplier in the marketRivalry among existing competitors Current dissolute moving industry, its eventful understand the strategy of existing competitors. Example How competitor gain competitive advantages or product differentiation.Porters 5 Forces al wiped out(p)ed the union undertand and analyse own industry struture and futher patron the management to decide on beau mondes strategy. According to Porter, governing body is able to ga in competitive advantanges by strategies the friendship development one of the Porters generic wine Strategies as shown in Figure 8 1) Cost leadership, 2) speciality, 3) concentre 8.2.1. Cost leading StrategiesCost leaders strategies emphasize on low represent in ac club strategies. connection go forth supply low per-unit greet product or service to customer that sensitive to price. In order to become low comprise provider, club can practise integration strategies ( loath, beforehand and horizontal). There are few factors that forget affect the strategies accommodate economies of scale, accomplishment curve, productivity, beau monde structure, relationship with supplier and quality control. Several example organizations that approach pattern this are Wal-Mart (general merchandiser), manner Asia (budget strainingline) and Macdonalds (Fast Food) 9. In this PMA, I leave alone usage demarcation Asia as example to study its business model and look into calle r-out successful factor. billet Asia strategy as illustrate in Figure 9, the company mission is to continue to be the markets carrier low damage provider.In order to compete with other air forge carrier and achieve company vision for startest cost skyway, parentage Asia implement a few strategy to go down performance cost. Strategy implemented as per on a lower floor2.1.1. Keep operation cost low- NO frillsIn order to compete in this competitive market, Air Asia able to funding operational cost low by implementing few NOs in the strategy 10NO meal No food or drinks allow for be provided free in the in-flight service.NO ghost flyer program NO Membership or rewarding program which ordinarily used for others airline resembling Kris flyer for Singapore flight path and Skymiles for Delta airline.NO Seat assignment Ticket In order to discover administrative cost lowNO Entertainment NO news constitution and entertainment system such as movie, feistys and music.No ticket Ti cketless replaced conventional type printed ticketNo waiting lounge NO lounge provide in the airport2.1.2. iodin air craft fleetIn order to streamline the operation, Air Asia phasing out its 14 Boeing B737 in 2010 and replace by only ply oneness air craft which is A320. Few advantages of using single aircraft as say on a lower floorKeep inventory cost lowSaving cost in service and up conceal such as keeping aforementioned(prenominal) model of spares parts.No duplicated resource repayable to difference Air Craft experience motiveed rivet time and training cost overdue to only one model. This allowed the company avoid going to through the expensive learning curve process and withal may dissatisfied demanding customer. Michael and Nikos study on the organisation learning curves for customer dissatisfaction across airlines. They plan estimate U-Shaped learning curve as show in Figure 10 and show discernible that complaint evaluate followed U-shaped function of experienceAbl e to ontogenesis fuel efficiency and improve productivity2.1.3. Simplified diffusion systemAir Asia goal simple user friendly system for customer to book and check- in their ticket. Customers are able to check in using own mobile as shown in Figure 11. This ticketless system is able to stifle waiting time for customer queuing to check- in at the airport counter.2.1.4. psyche to point network ( 4 hrs)All Air Asia flight is running by point to point network within 4 hours radius or less as its business model. This model only carry passenger from point A to point B without any connecting flight. This in order to keep operation cost simple in order to tighten up costs 10.2.1.5. optimum Aircraft Utilization other way to keep operational cost low and maximizes profit, Air Asia increase productivity by hone flight utilisation. Air Asia is the fastest in the region by achieving 25 spot turnaround time. Air Asia is able to achieve equal or more than 75% for last 5 years on the load factor. Once, Air Asia achieve close to 100% load factor for Bali Perth route. debauch factor is defined by AirAsia as takingss of passengers as a percentage of number of seating room flown 10. On top of that, Air Asia applies Tier based system for ticketing which depend on supply and demand. When demand is low, the price is low. When demand is high the ticket price will also go high. This system is cost-effective especially during low season allowed Air Asia maintain the reasonable high percent load factor,2.2. denounce StrategiesDifferentiation strategies offer service or product which unusual perceived by customer. Differentiation strategies do not pledge good payback especially current standard product offered in the industry is more than plentiful to meet customer expectation. There will a risk on implementing this strategy and need to study carefully on customer exigency before implementing. Product value added, extra servicing, products flexibility and wear comp atibility are slightly of the features that can create differentiate in the industry. Cost is not an issue in this strategy hence company can demand higher price if customer strongly addicted to offered differentiation features. Typical move in this strategy is product development. Organisations that apply these strategies entangle orchard apple tree (Lifestyle product), Raul Lauren (Apparel) and Maytag (Home appliance) apple is applying differentiate strategies compare with other competitors in the industry by selling modus vivendi product instead of conventional electronic gadget. In first 6 months of 2011, Apple spends 1.2 meg in research and development. This is about 40% increase compare with 2010 13. One of the successful examples when Apple launches iPad during 2010 and Steve Jobs defined iPad as entirely new category of mobile devices. Apple sold more than 15 million units cosmopolitan afterward ingress 14.2.2.1. modern and creativity productApple is a manner leadin g company in the market. The company famous in creating advanced products and able to capture a significant market share after launching new products. Apple spends heavily in research and development be excite the company believe RD are critical for future growth and are able to create competitive advantages2.2.2. grand range of parcel and applicationsApple created another successful platform for customer to download software and application. Traditional, example corresponding phone, other competitor just focus on few simple features which only contains game, photography function, movie and more or less basic feature. By introducing new approach, Apple created The App terminal. Now The App Store has more than 350,000 apps available for iPhone, iPad and iPod hit globally. The apps offered wide range of application from games, entertainment, utilities, social networking, music and others. In Jan 2011, Apple announces that more than 10 billion apps have been downloaded .2.2.3. A pple storeUnlike others competitors store which only focus on products price and feature, Apple differentiate by giving customer different shopping experience in the store. Apple design Apples retail store to give the patrons good impression of stylish, clean, fashion and stream-lined. The product like i Phone, iTunes and etc will placing in a place that customer can try out the features and application.2.2.4. brook good service and maintenanceApple provides good service respond compare with others competitors like Samsung and Nokia. In Singapore, Apple provides one to one ex channel for i Phone if there is defect and still under warranty. This is different from rough of the competitors, depend on the level of repair, more or less will take about 2 to 3 weeks. This will create some issue for some consumer that only has one hand phone.2.3. management Strategiesdirection strategies offers product or service to fulfil the requirement for s core outed assorts of customer in the in dustry 9. Focus strategies can be categorized into 2 Focus cost leadership which focus on low cost upshot in narrow market and Focus differentiation provide customised product or service to street corner market 16. tell onet penetration and market development can be use when applying focus strategies 9. Focus strategies beneficial when competitors are not able to support on unique requirement of certain group of customer. Organisation which pursuing this strategies include IKEA (Furniture), Ferrari (Automotive) and Federal Express (logistic)2.3.1. Focus Cost Leadership StrategyIKEA is the Swedish global piece of furniture company that applied focus cost leadership strategy in their business strategy. IKEA offering wide range of home furnish product with low price so that many people can afford to acquire. In order to achieve the strategy, IKEA apply below concept2.3.1.1. protrude and develop base on priceIn order to keep competitive price, IKEA design and develop product base on price. The price is fix even before the product is launch. The designer will have to work directly with supplier to delay meeting low cost by optimised productivity, framework efficiency and process improvement 17.2.3.1.2. Reduce logistic, handling and operational costIn order to reduce logistic, handling and operating cost, IKEA designer always consider flat-pack transportation and self-assembly during design and development pattern. Flat-pack furniture is lots delivered in multiple sub assemblies together with simple instruction manual and compulsory customer to perform self assembly. This modular concept is able to write transportation, handling and operating cost. For example, assembled furniture tends to be more bulky and is more expensive to store in warehouse and transportation. Besides, that, IKEA is able to save operating cost by reduce one Assembly process in production .2.3.1.3. self-service in IKEA StoreIn order t keep the operating cost low and reduce the una voidably of gross revenue assistance, IKEA design the flow of store layout and display the product effectively by using actual room concept. For example, sofa is placed in living room section and bed is placed in butt Room section. All the furniture is clearly labelled and useful information like dimension is well located in the display product 17.2.3.2. Focus Differentiate strategyFerrari is applying focus differentiate strategy by develop high performance car within automotive industry. Ferrari focus on high end consumer compare with other automotive competitors like Honda, Toyota or Ford which butt more broad customer. Below is the strategy for Ferrari2.3.2.1. New Way of Purchase CarFerrari compete created innovative approach by introduce new way of purchase car Premium Ownership programme to serve its target customer. This program include insurance, maintenance, warranty , Ferrari tailored made driving course and pit stop service which provide the customer mind free after ow ning and driving Ferrari car 18.2.3.2.2. Innovative TechnologyFerrari veritable own software to meet customer service expectation such as rapid result times, up to date database and ainise customer service. One of the latest features such as, the customer can view the look of the vehicle and change the preference in Service configurator system even in pre-order pointedness 19.2.3.2.3. Best DealerFerrari believes choosing the properly strategic partner or dealer is the right way to serve the customer. In order to motivate the dealer, Ferrari created prestigious award Podio Awards for supplier or business partner recognition.2.4. Stuck in the ticker or mark StrategiesPorter does not recommend Stuck in the middle or Hybrid strategies if the company want to achieve above average performance in the industry. society must necessitate either one of the strategy in the Porters Generic strategy. He claimed that it is difficult for a company to strategies the business to produce low cost product but still extend unique perceived by customer 8.However, Rodney Goon argues on Porters theory and commented some of the company such as Singapore Airline (SIA) are able to success using Hybrid strategy. Figure 12 shows business strategy applied by SIA which plotted by Rodney 21. Singapore Airline have been awarded second place in World Top Airline in 2010 by Skytrax in Hamburg 22. Figure 13 shows main operating cost for SIA. Top 3 costs consist of Fuel, Aircraft and People 23. In order to achieve competitive advantages, SIA apply below approach2.4.1. Become Market Leader Differentiation StrategySIA founded in 1972 started as small airline company and now evolve become the world trend leading company for Airline industry. SIA become market leader by setting trend started since mid-seventies when introducing headsets, drink and choice of meals in Economy Class. Figure 14 shows overview on SIA trend setting for more than 39 years in the industry. In 1991, SIA introduce satellite- based telephone to enable passenger to call to ground during flying. In 1998, in order to improve the quality and standard of in-flight meal, SIA formed International culinary Panel which involves noted chef from all over the world. By doing this, the passengers are able to enjoy world clique cuisine even during travelling.In order to improve customer service satisfaction, SIA introduce in-flight entertainment system named Krisworld which include auditory sensation and Video system. Passenger can watch movie, listen to music and playing game during flying. In 2004, SIA fall upon another milestone by flying world longest non-stop flight from Singapore to New York (Newark). In 2007, SIA flying new Airbus design A380 which is world largest passenger Aircraft from Singapore to Sydney .2.4.2. Brand Singapore Girl Differentiation StrategySIA successfully improve its service compare with others competitors by creating unique iconic image for SIAs air stewardess as Singapor e Girl and promote Youre a great way to fly started in 1972. This iconic brand is famous of caring, elegant and good looking girl whom will provide good service for the passenger during on board the plane. Singapore Girl has continuously win many awards in Airline and Travel Industry over the years .2.4.3. Low Cost -Cost Leadership StrategyEverything nates The Scenes Is subject To Rigorous Control quoted by Rodney . SIA spend heavily on the area that customer can be seen as hold forthed above in order to remain premium in the industry but cutting cost for area that behind the scene in order to remain cost compatible. native cost for Singapore airline is about 14.2% is the lowest in the market compare with other competitors like American Airline which labor cost is approximately 31% of total operating expense . former(a) than that, average price per aircraft purchase is less than other airline provider. This is due to SIA is the market leader in trendsetting and always working wi th aircraft builder like Airbus when there is new product launching. First purchase in world for A380 allowed SIA command a better purchase price.Q3 What are the study advantages and disadvantages of an integrative strategy?3. combinatory strategyOrganisation is able to gain competitive advantages by using integrative strategy. Integrative strategy can be categorized as vertical, half-witted, forward and horizontal integration. There are advantages and disadvantages when applying from each one concept and detail discuss as below3.1. upright desegregationVertical integration is business strategies which expand its business either through gaining control over company that dot or selling its product ( earlier integration) or taking control over company that provide the raw material for quit goods ( retrospective Integration). Figure 15 illustrate 4 typical stages for value added chain in PC industry (27).Example for dell or Hewlett Packard, in order to produce a personal compute r, assembly components such as chips, microprocessor and disk drive etc is needed from others manufacturing company (Intel/ Micron). Similarly, component parts manufacturing needs raw material like chemical, metal and ceramic to manufacture the component. Kyocera is one of the suppliers for those materials. Backward integration strategy in this case is trying to taking control over components parts manufacturing and raw material supplier. Whereas for forward integration strategy, PC maker try to gains control over the company that selling or move on the final product such as OfficeMax and ComUSA 27 This company provide platform to devolve end user.3.2. earlier IntegrationForward integration strategy involves increase ownership or control over retailers or distributor and illustrates in Figure 16. One of the effective mean of forward integration is through Franchising 9. fierce $2 one million million million revenue created annually through franchising business every year global ly. This equal to quaternate largest Gross field Product in the world 28. Advantages and disadvantages as discuss belowAdvantages Getting arrangement customer betterOne of the companies using forward integration strategy successfully is Dell. Dell founded in 1984 by Michael Dell with one direction selling final products to customer directly 29. By doing this, company able to reach end user and getting feedback instantly through companys distributor and retailer without filtering. Low development and training costBy introduce franchising the company are able to reduce development and training cost. Franchisor will provide training, equipment and product to franchisee. This in order to skip the trial error phase for franchisee and able to help franchisee generate profit with less risk. Example companies like Subway, McDonalds and 7-eleven. Provide better serviceCompany can provide better services through its own controlled network and services. Provide lower cost of salesIn order to compete in this competitive world, price of the end product is always one of the critical successful factors for the company. Dell is using this strategy to reduce price bypassing tertiary party involution such as retailers etc. No mark up from other company in the spotless goodsDisadvantages Increase bureaucratic costExpanding business forward which also means that increase bureaucratic cost for whole value- added chain activities. Due to uncertain demand in current market, it will post some risk to the company Increase InventoryGetting control over distributors or retailer, indirectly manufacturing business may have to manage whole product cycle inventory include end products. Company may incurred higher inventory cost if wrongly manage3.3. Backward IntegrationManufacturer need supplier provide raw material in order to produce its end products or service. Backward integration allowed company gain control toward supplier as shown in Figure 16. Advantages and disadvantages as discuss belowAdvantages Getting better quality controlCompany are able to apply standard quality plan throughout the value chain. This is especially important when dealing with cultivate components such as crankshaft, piston and turbocharger for engine. By improving the quality of this critical component will increase competitive advantages among the rivals Reduce threat from flop vendorsBy increasing control over the vendors, it will reduce threat from powerful vendors. Optimized supply chainKeeping track of so many suppliers is onerous says Mark Shimelonis of Xerox 9. Nowadays, a number of companies following Japanese firms lead in managing the supply chain to ensure uninterrupted supplies and low prices. Lower structure costOutsourcing is one of the examples of the backward strategy. Outsourcing strategy will able to reduce cost when company engaging third party specialist that performing charging lower than company own operate value-chain activity. Cummins outsource IT support to India Company and panel design to CMR or Auto Maskin to keep the company structure cost lower. Nike outsourcing its manufacturing plant in China due to lower labor cost 27.Disadvantages Technology changeTechnology change is inevitable in current competitive market. But backward vertical integration may lock a company way of doing business and prevent organisation changes due to technology change. One of the examples is when radio manufacturer acquired a manufacturer of vacuum tube in 1950s to reduce production cost. When, transistors replace vacuum tube in 1960s, the competitor rapidly change to latest technology. However for this radio manufacturer company, the management refuse to change and as the result, lost in the competitive advantages and cause business failure. Thus, backward integration can cause serious disadvantages when trying to match rapid technology change 27 Risk of information lossIncrease control over the supplier which mean also potentially important informat ion flow to the supplier. For example, Cummins need to provide important statement and interfacing information in the engine control module to backward supplier like CMR and Auto Maskin in order to joints develop the engine protection panel. Technical drawing will be shared among backward supplier and manufacturer. effectiveness high costLess supplier competition will lead to less efficiencies when produce a product. The backward support company will work in the comfort regularize and less initiative. The manufacturer is forced to get the input from internal supplier even there will be some others external supplier can produce lower cost .As the result will cause potentially higher production cost .3.4. Horizontal IntegrationHorizontal integration refers to company that use single industry strategy and seeking control over competitor in same market. A number of the company apply this concept as growth strategy. Merger and acquisition allowed the company to expand its core busines s and technical capabiStrategies to Sustain Competitive AdvantageStrategies to Sustain Competitive AdvantageQ1 Using an appropriate model, evaluate the business model of a company of your choice, describing how the company differentiates itself from its competitors and sustain competitive advantage.1. Executive SummaryCummins started off as diesel engine manufacturing company since 1919 and now growing as power leader in the world. Cummins expand network through company- owned distributor, independent distributor and dealer to serve customer globally. In 2009, Cummins reported net income of $428 million in $10.8 billion of sales 1.Cummins have been diversifying its business to broad range of products from power generation, filtration technology, turbo technology, fuel system, emission controls and air handling 2. Due to external pressure and growing market in Asia, Cummins recently setup Centre of Excellent in Singapore focus more on Marine and Offshore market. In this post module a ssignment, competitive strategy will only focus on Cumminss marine and offshore business. In this PMA, the value curve is based on own industry experiences assumption. However, analysis on financial will based overall Cummins business listed in stock market which named CMI.1.1. Vision StatementMaking peoples lives better by unleashing the Power of Cummins 3. Cummins believe in by developing new technology will lead to better living for the people.1.2. Mission StatementCummins mission statement as quoted below 3Motivating people to act like owners working togetherExceeding customer expectations by always being first to market the best productsPartnering with our customers to make sure that they succeedDemanding that everything we do leads to a cleaner, healthier, safer environmentCreating wealth for all stakeholders.1.3. Cummins compare with Industrial leaderFigure 1 Financial Analysis CMI Vs Industry Leader 4Figure 1 shows overview financial analysis of Cummins (CMI) compare within industry leader 4. Cummins rank 35 among 379 diversified machinery industries in industrial goods sector for market capitalisation. Cummins stock values increase more than triple over the past 3 years and promise future growth with its business strategy 4.1.4. Ocean StrategyOcean strategy has been introduced by W.C. Kim and R Mauborge since 2004. Starting then, this strategy is adopted and implemented successfully in various organisations globally. Recently, Malaysias Prime Minister Datuk Seri Najib Razak shared his experience on Ocean Strategy when dealing with increasing crime in the country 5. He is using Blue Ocean Strategy as management tools in order to promote thinking out of the box. Key successful activities such as leveraged untapped resources when replaced police with soldier doing patrolling around countrys border and conduct training for new police force in the underutilised army facilities. This initiative save a lot of money from government and promote cross functioni ng role among government agency 5.The principle of the ocean strategy is treating market as universe. There are two oceans available in the universe named Red Ocean and Blue Ocean. Red Ocean defined as known competition. In this Ocean, product is already well defined and competitors only able to compete with price 6 .Customer expectation on the product almost generic and not much technology can be developing in this area. For diesel engine in marine and offshore market, the competitors for Cummins include Caterpillar, MTU and Mitsubishi. How Cummins can break trough become market leaders?Cummins apply Blue Ocean Strategy when dealing with its business. Blue Ocean Strategy defines as untapped market which no competition and industries that do not exist at this point of time 6. This in return will resulting higher profit compare with conventional approach. This clearly shows in W.C. Kim and R Mauborge studys on business launches in 108 companies. They summarize revenue and profit impa ct of business launches shows in Figure 2. In this study, 86% business launches within own boundaries (Red Oceans) and 14% business launches looking for new opportunities (Blue Oceans) 6.Red Oceans approach focus on existing customer by improving their product and study shows that this resulted 62% on total revenue and 39% on total profit. In contrast, 14% of the businesses launches by creating blue oceans can bring in higher return which about 61% of the total profit 6.Cummins spend heavily on research and development for past 5 years as shown in Figure 3. In 2010 alone, Cummins invest 414million in new technology development 2. One of recent Blue Oceans initiatives is setting Marine and Offshore Centre of Excellent in Singapore. This business focus on the Packaging instead of selling conventional type of bare diesel engine like other competitor such as CAT, MTU and Mitsubishi. Figure 4 shows pictorial view on the value added components into bare diesel engine1.5. Strategy CanvasFi gure 5 shows strategy canvas of the marine and offshore diesel engine. X-axis represents critical success factors of the markets competition and Y-axis correspond to values perceived by marine and offshore customer.Marine and offshore is a mature and establish market. Engine makers always compete with price, image, brand, delivery, product performance and service availability. Cummins performs averagely in critical successful factors. However, in order to compete in the competitive market, Cummins break through conventional way by creating new team to focus on product value added specifically for marine and offshore customer. Cummins applied Blue Ocean strategy.Figure 6 shows Red Ocean strategy from others diesel engine maker and Blue Ocean strategy from Cummins.Q2 Using either Porters generic strategies or the Strategy Clock, identify examples of organizations following strategies of differentiation, low cost or low price, and stuck-in-the middle or hybrid. How successful are these strategies.2. Porters 5 forces generic StrategiesUsing the five forces framework, creative strategists may be able to spot an industry with a good future before this good futureis reflected in the prices of acquisition candidates Michael Porter 7.Porters five forcesThreat of New Entrants Analyse potential new comer to market is important to understand potential future competitorsBargaining Power of Buyers Buyers is the party that create demand for industry, understand buyers requirement will help to maintain competitive advantages. For example, bargaining power of buyers is high if product is standard.Threat of substitute products or service Buyers always look for alternative or cheapest way to get products or service. Substitute product can bring the overall industry price lowerBargaining Power of Supplier Supplier supply raw material or service to manufacturer. Bargaining power of supplier is high when to many buyer and less supplier in the marketRivalry among existing competito rs Current fast moving industry, its important understand the strategy of existing competitors. Example How competitor gain competitive advantages or product differentiation.Porters 5 Forces allowed the company undertand and analyse own industry struture and futher help the management to decide on companys strategy. According to Porter, organisation is able to gain competitive advantanges by strategies the company using one of the Porters Generic Strategies as shown in Figure 8 1) Cost Leadership, 2) Differentiation, 3) Focus 8.2.1. Cost Leadership StrategiesCost leadership strategies emphasize on low cost in company strategies. Company will offer low per-unit cost product or service to customer that sensitive to price. In order to become low cost provider, company can practise integration strategies (backward, forward and horizontal). There are few factors that will affect the strategies include economies of scale, learning curve, productivity, company structure, relationship with supplier and quality control. Several example organizations that practice this are Wal-Mart (general merchandiser), Air Asia (budget Airline) and Macdonalds (Fast Food) 9. In this PMA, I will use Air Asia as example to study its business model and look into company successful factor.Air Asia strategy as illustrate in Figure 9, the company mission is to continue to be the markets carrier low cost provider.In order to compete with other aircraft carrier and achieve company vision for Lowest cost airline, Air Asia implement a few strategy to reduce operation cost. Strategy implemented as per below2.1.1. Keep operation cost low- NO frillsIn order to compete in this competitive market, Air Asia able to keep operational cost low by implementing few NOs in the strategy 10NO meal No food or drinks will be provided free in the in-flight service.NO frequent flyer program NO Membership or rewarding program which commonly used for others airline like Kris flyer for Singapore Airline and Skymile s for Delta airline.NO Seat assignment Ticket In order to keep administrative cost lowNO Entertainment NO news paper and entertainment system such as movie, games and music.No ticket Ticketless replaced conventional type printed ticketNo waiting lounge NO lounge provide in the airport2.1.2. Single air craft fleetIn order to streamline the operation, Air Asia phasing out its 14 Boeing B737 in 2010 and replace by only operate single air craft which is A320. Few advantages of using single aircraft as stated belowKeep inventory cost lowSaving cost in service and maintenance such as keeping same model of spares parts.No duplicated resource due to difference Air Craft experience neededReduce time and training cost due to only one model. This allowed the company avoid going to through the expensive learning curve process and also may dissatisfied demanding customer. Michael and Nikos study on the organisation learning curves for customer dissatisfaction across airlines. They plotted esti mate U-Shaped learning curve as show in Figure 10 and show evident that complaint rates followed U-shaped function of experienceAble to increase fuel efficiency and improve productivity2.1.3. Simplified distribution systemAir Asia design simple user friendly system for customer to book and check- in their ticket. Customers are able to check in using own mobile as shown in Figure 11. This ticketless system is able to reduce waiting time for customer queuing to check- in at the airport counter.2.1.4. Point to point network ( 4 hrs)All Air Asia flight is running by point to point network within 4 hours radius or less as its business model. This model only carry passenger from point A to point B without any connecting flight. This in order to keep operation cost simple in order to reduce costs 10.2.1.5. Optimum Aircraft UtilizationAnother way to keep operating cost low and maximizes profit, Air Asia increase productivity by optimise flight utilisation. Air Asia is the fastest in the reg ion by achieving 25 minute turnaround time. Air Asia is able to achieve equal or more than 75% for last 5 years on the load factor. Once, Air Asia achieve close to 100% load factor for Bali Perth route. Load factor is defined by AirAsia as numbers of passengers as a percentage of number of seats flown 10. On top of that, Air Asia applies Tier based system for ticketing which depend on supply and demand. When demand is low, the price is low. When demand is high the ticket price will also go high. This system is efficient especially during low season allowed Air Asia maintain the reasonable high percent load factor,2.2. Differentiate StrategiesDifferentiation strategies offer service or product which unique perceived by customer. Differentiation strategies do not guarantee good payback especially current standard product offered in the industry is more than enough to meet customer expectation. There will a risk on implementing this strategy and need to study carefully on customer req uirement before implementing. Product value added, extra servicing, products flexibility and better compatibility are some of the features that can create differentiate in the industry. Cost is not an issue in this strategy hence company can demand higher price if customer strongly attached to offered differentiation features. Typical move in this strategy is product development. Organisations that apply these strategies include Apple (Lifestyle product), Raul Lauren (Apparel) and Maytag (Home appliance)Apple is applying differentiate strategies compare with other competitors in the industry by selling lifestyle product instead of conventional electronic gadget. In first 6 months of 2011, Apple spends 1.2 billion in research and development. This is about 40% increase compare with 2010 13. One of the successful examples when Apple launches iPad during 2010 and Steve Jobs defined iPad as entirely new category of mobile devices. Apple sold more than 15 million units worldwide after la unching 14.2.2.1. Innovative and creativity productApple is a trend leading company in the market. The company famous in creating innovative products and able to capture a significant market share after launching new products. Apple spends heavily in research and development because the company believe RD are critical for future growth and are able to create competitive advantages2.2.2. Wide range of software and applicationsApple created another successful platform for customer to download software and application. Traditional, example like phone, other competitor just focus on few simple features which only contains game, photography function, movie and some basic feature. By introducing new approach, Apple created The App Store. Now The App Store has more than 350,000 apps available for iPhone, iPad and iPod touch globally. The apps offered wide range of application from games, entertainment, utilities, social networking, music and others. In Jan 2011, Apple announces that more t han 10 billion apps have been downloaded .2.2.3. Apple storeUnlike others competitors store which only focus on products price and feature, Apple differentiate by giving customer different shopping experience in the store. Apple design Apples retail store to give the patrons good impression of stylish, clean, fashion and stream-lined. The product like i Phone, iTunes and etc will placing in a place that customer can try out the features and application.2.2.4. Provide good service and maintenanceApple provides good service respond compare with others competitors like Samsung and Nokia. In Singapore, Apple provides one to one exchange for i Phone if there is defect and still under warranty. This is different from some of the competitors, depend on the level of repair, some will take about 2 to 3 weeks. This will create some issue for some consumer that only has one hand phone.2.3. Focus StrategiesFocus strategies offers product or service to fulfil the requirement for targeted groups of customer in the industry 9. Focus strategies can be categorized into 2 Focus cost leadership which focus on low cost solution in narrow market and Focus differentiation provide customised product or service to niche market 16. Market penetration and market development can be use when applying focus strategies 9. Focus strategies beneficial when competitors are not able to support on unique requirement of certain group of customer. Organisation which pursuing this strategies include IKEA (Furniture), Ferrari (Automotive) and Federal Express (logistic)2.3.1. Focus Cost Leadership StrategyIKEA is the Swedish global furniture company that applied focus cost leadership strategy in their business strategy. IKEA offering wide range of home furnish product with low price so that many people can afford to purchase. In order to achieve the strategy, IKEA apply below concept2.3.1.1. Design and develop base on priceIn order to keep competitive price, IKEA design and develop product base on p rice. The price is fix even before the product is launch. The designer will have to work directly with supplier to ensure meeting low cost by optimised productivity, material efficiency and process improvement 17.2.3.1.2. Reduce logistic, handling and operating costIn order to reduce logistic, handling and operating cost, IKEA designer always consider flat-pack transportation and self-assembly during design and development phase. Flat-pack furniture is often delivered in multiple sub assemblies together with simple instruction manual and required customer to perform self assembly. This modular concept is able to save transportation, handling and operating cost. For example, assembled furniture tends to be more bulky and is more expensive to store in warehouse and transportation. Besides, that, IKEA is able to save operating cost by reduce one Assembly process in production .2.3.1.3. Self-Service in IKEA StoreIn order t keep the operating cost low and reduce the needs of sales assist ance, IKEA design the flow of store layout and display the product effectively by using actual room concept. For example, sofa is placed in living room section and bed is placed in Bed Room section. All the furniture is clearly labelled and useful information like dimension is easily located in the display product 17.2.3.2. Focus Differentiate strategyFerrari is applying focus differentiate strategy by develop high performance car within automotive industry. Ferrari focus on high end consumer compare with other automotive competitors like Honda, Toyota or Ford which target more broad customer. Below is the strategy for Ferrari2.3.2.1. New Way of Purchase CarFerrari compete created innovative approach by introduce new way of purchase car Premium Ownership Program to serve its target customer. This program include insurance, maintenance, warranty , Ferrari tailored made driving course and pit stop service which provide the customer mind free after owning and driving Ferrari car 18.2.3 .2.2. Innovative TechnologyFerrari developed own software to meet customer service expectation such as rapid response times, up to date database and personalise customer service. One of the latest features such as, the customer can view the look of the vehicle and change the preference in Service configurator system even in pre-order stage 19.2.3.2.3. Best DealerFerrari believes choosing the right strategic partner or dealer is the right way to serve the customer. In order to motivate the dealer, Ferrari created prestigious award Podio Awards for supplier or business partner recognition.2.4. Stuck in the middle or Hybrid StrategiesPorter does not recommend Stuck in the middle or Hybrid strategies if the company want to achieve above average performance in the industry. Company must choose either one of the strategy in the Porters Generic strategy. He claimed that it is difficult for a company to strategies the business to produce low cost product but still remain unique perceived b y customer 8.However, Rodney Goon argues on Porters theory and commented some of the company such as Singapore Airline (SIA) are able to success using Hybrid strategy. Figure 12 shows business strategy applied by SIA which plotted by Rodney 21. Singapore Airline have been awarded 2nd place in World Top Airline in 2010 by Skytrax in Hamburg 22. Figure 13 shows main operating cost for SIA. Top 3 costs consist of Fuel, Aircraft and People 23. In order to achieve competitive advantages, SIA apply below approach2.4.1. Become Market Leader Differentiation StrategySIA founded in 1972 started as small airline company and now evolve become the world trend leading company for Airline industry. SIA become market leader by setting trend started since 1970s when introducing headsets, drink and choice of meals in Economy Class. Figure 14 shows overview on SIA trend setting for more than 39 years in the industry. In 1991, SIA introduce satellite- based telephone to enable passenger to call to gro und during flying. In 1998, in order to improve the quality and standard of in-flight meal, SIA formed International Culinary Panel which involves renowned chef from all over the world. By doing this, the passengers are able to enjoy world class cuisine even during travelling.In order to improve customer service satisfaction, SIA introduce in-flight entertainment system named Krisworld which include Audio and Video system. Passenger can watch movie, listen to music and playing game during flying. In 2004, SIA reach another milestone by flying world longest non-stop flight from Singapore to New York (Newark). In 2007, SIA flying new Airbus design A380 which is world largest passenger Aircraft from Singapore to Sydney .2.4.2. Brand Singapore Girl Differentiation StrategySIA successfully improve its service compare with others competitors by creating unique iconic image for SIAs air stewardess as Singapore Girl and promote Youre a great way to fly started in 1972. This iconic brand is famous of caring, elegant and good looking girl whom will provide good service for the passenger during on board the plane. Singapore Girl has continuously won many awards in Airline and Travel Industry over the years .2.4.3. Low Cost -Cost Leadership StrategyEverything behind The Scenes Is subject To Rigorous Control quoted by Rodney . SIA spend heavily on the area that customer can be seen as discussed above in order to remain premium in the industry but cutting cost for area that behind the scene in order to remain cost compatible. Total cost for Singapore airline is about 14.2% is the lowest in the market compare with other competitors like American Airline which labor cost is approximately 31% of total operating expense . Other than that, average price per aircraft purchase is less than other airline provider. This is due to SIA is the market leader in trendsetting and always working with aircraft builder like Airbus when there is new product launching. First purchase in world for A380 allowed SIA command a better purchase price.Q3 What are the major advantages and disadvantages of an integrative strategy?3. Integrative strategyOrganisation is able to gain competitive advantages by using integrative strategy. Integrative strategy can be categorized as vertical, backward, forward and horizontal integration. There are advantages and disadvantages when applying each concept and detail discuss as below3.1. Vertical IntegrationVertical integration is business strategies which expand its business either through gaining control over company that distribute or selling its product (Forward integration) or taking control over company that provide the raw material for finish goods (Backward Integration). Figure 15 illustrate 4 typical stages for value added chain in PC industry (27).Example for Dell or Hewlett Packard, in order to produce a personal computer, assembly components such as chips, microprocessor and disk drive etc is needed from others manufacturing co mpany (Intel/ Micron). Similarly, component parts manufacturing needs raw material like chemical, metal and ceramic to manufacture the component. Kyocera is one of the suppliers for those materials. Backward integration strategy in this case is trying to taking control over components parts manufacturing and raw material supplier. Whereas for forward integration strategy, PC maker try to gains control over the company that selling or distribute the final product such as OfficeMax and ComUSA 27 This company provide platform to reach end user.3.2. Forward IntegrationForward integration strategy involves increase ownership or control over retailers or distributor and illustrates in Figure 16. One of the effective mean of forward integration is through Franchising 9. Approximate $2 trillion revenue created annually through franchising business every year globally. This equal to 4th largest Gross National Product in the world 28. Advantages and disadvantages as discuss belowAdvantages Ge tting understanding customer betterOne of the companies using forward integration strategy successfully is Dell. Dell founded in 1984 by Michael Dell with one direction selling final products to customer directly 29. By doing this, company able to reach end user and getting feedback instantly through companys distributor and retailer without filtering. Low development and training costBy introduce franchising the company are able to reduce development and training cost. Franchisor will provide training, equipment and product to franchisee. This in order to skip the trial error phase for franchisee and able to help franchisee generate profit with less risk. Example companies like Subway, McDonalds and 7-eleven. Provide better servicesCompany can provide better services through its own controlled network and services. Provide lower cost of salesIn order to compete in this competitive world, price of the end product is always one of the critical successful factors for the company. Del l is using this strategy to reduce price bypassing third party involvement such as retailers etc. No mark up from other company in the finished goodsDisadvantages Increase bureaucratic costExpanding business forward which also means that increase bureaucratic cost for whole value- added chain activities. Due to uncertain demand in current market, it will post some risk to the company Increase InventoryGetting control over distributors or retailer, indirectly manufacturer may have to manage whole product cycle inventory include end products. Company may incurred higher inventory cost if wrongly manage3.3. Backward IntegrationManufacturer need supplier provide raw material in order to produce its end products or service. Backward integration allowed company gain control toward supplier as shown in Figure 16. Advantages and disadvantages as discuss belowAdvantages Getting better quality controlCompany are able to apply standard quality plan throughout the value chain. This is especiall y important when dealing with sophisticated components such as crankshaft, piston and turbocharger for engine. By improving the quality of this critical component will increase competitive advantages among the rivals Reduce threat from powerful vendorsBy increasing control over the vendors, it will reduce threat from powerful vendors. Optimized supply chainKeeping track of so many suppliers is onerous says Mark Shimelonis of Xerox 9. Nowadays, a number of companies following Japanese firms lead in managing the supply chain to ensure uninterrupted supplies and low prices. Lower structure costOutsourcing is one of the examples of the backward strategy. Outsourcing strategy will able to reduce cost when company engaging third party specialist that performing charging lower than company own operate value-chain activity. Cummins outsource IT support to India Company and panel design to CMR or Auto Maskin to keep the company structure cost lower. Nike outsourcing its manufacturing plant i n China due to lower labor cost 27.Disadvantages Technology changeTechnology change is inevitable in current competitive market. But backward vertical integration may lock a company way of doing business and prevent organisation changes due to technology change. One of the examples is when radio manufacturer acquired a manufacturer of vacuum tube in 1950s to reduce production cost. When, transistors replace vacuum tube in 1960s, the competitor rapidly change to latest technology. However for this radio manufacturer company, the management refuse to change and as the result, lost in the competitive advantages and cause business failure. Thus, backward integration can cause serious disadvantages when trying to match rapid technology change 27 Risk of information lossIncrease control over the supplier which mean also potentially important information flow to the supplier. For example, Cummins need to provide important parameter and interfacing information in the engine control module t o backward supplier like CMR and Auto Maskin in order to joints develop the engine protection panel. Technical drawing will be shared among backward supplier and manufacturer. Potential high costLess supplier competition will lead to less efficiencies when produce a product. The backward support company will work in the comfort zone and less initiative. The manufacturer is forced to get the input from internal supplier even there will be some others external supplier can produce lower cost .As the result will cause potentially higher production cost .3.4. Horizontal IntegrationHorizontal integration refers to company that use single industry strategy and seeking control over competitor in same market. A number of the company apply this concept as growth strategy. Merger and acquisition allowed the company to expand its core business and technical capabi