Graded Unit Essay

As a HNC Health Care student I am required to provide evidence of the following principal aims and objectives: to integrate knowledge, theory and practice, to develop and apply a broad knowledge and skills and to have an individual patient/client focus in my practice. To achieve all of the above I am required to complete project in a form of Graded Unit which consists of three stages: planning, development and evaluation. After consultation with my work experience mentor and lead lecture (appendix 1 and 2) it was agreed, the project will be a nursing activity, weighing a patient , which will be carried out within an ambulatory care settings which is my current placement . This will take place on Monday the 22nd of April. The chosen activity is a part of the patients’ treatment care plan and its aims maintaining patient’s safety related to correct medicine administration as well as to detect potential side effects associated with pharmacological treatment. In accordance with applicable law (Data Protection Act 1998) and to maintain patient confidentiality and privacy the name of the patient has been changed. I will be referring to the patient as Cinderella. The patients’ personal information had been obtained with her consent and knowledge (NMC Code of Conduct 2008). Cinderella is a 26 years old patient attending the Peter Burnt Centre at Aberdeen Royal Infirmary where she has been receiving Hepatitis C (HCV) treatment since November 2012. Cinderella lives alone in high rise block of flats in one of Aberdeen City Council estate. She left school at the age of sixteen with no qualifications and used drugs for several years. She was brought up by single parent – her mother, and has no siblings. With the help from local drug rehabilitation team she managed to stop using drugs for five years. Currently she works as a housekeeper on a part time bases in one of the hotels in the city centre. Recently, she has reduced the number of working hours due to the side effects of medication which make her feel very tired. She also complains of an upset stomach and lack of appetite. After having a chat with Cinderella she has told me that her social life and circle of friends is quite limited as her income is now much lower. She also mentioned that is quie t difficult to make new friends while you have drug use history. When speaking to Cinderella it became evident to me that being HCV positive makes her feels worse than others and reminds her of when she was using drugs. It is well  evidenced that people who have both; history of drug use and disease which can be sexually transmitted such is HCV, are likely to experience stigma and discrimination in their life (Gilman 1999).Stigma and discrimination are socioeconomic factors which have a damaging health, social and financial consequences (Nursing Standard 2008). It is believed that those who are stigmatised and discriminated are more likely to have a lower income and due to this cannot afford to purchase better quality food, better housing, live in safer environments and have worse access to healthcare and education. Cinderella’s low socioeconomic status and negative social attitudes evidently put her physical and mental wellbeing at risk. Stigma and discrimination may relate to Social Symbolic Interaction Theory and in particular to the i dea of labelling and its negative impact on people behaviour and self- concept (Miller J, Gibb S 2007). This would also fit with Carl Rodgers Person- Centred Theory and his idea of self- concept. Self –concept in other words is how we perceive and value our self. Rogers believes that humans need a positive environment to achieve fulfilment in their lives. In Cinderella’s case both her socioeconomic status and unfavorable social attitudes may make her feel negatively about herself and stop her from social integration. I also believe that Abraham Maslow’s Hierarchy of Needs can be applied to the patient situation. According to this psychological perspective every person is motivated by their needs and cannot achieve his/he full potential (self-actualization) if some of these are not met. I feel that this may relate to Cinderella’s safety, love and belongings needs. Limited social contacts, stigma and fear caused by her illness may stop her from moving on to the next level personality development. To support people in similar to Cinderella’s circumstances the Scottish Government launched the Hepatitis C Action Plan in 2006. The aim of this policy is to improve health care services for people living with HCV and to tackle HCV- related social stigma, by rising public awareness and changing the way HCV is portrayed in media. I have decided to use Roper Logan and Tierney twelve activities of daily living (A DLs) to asses Cinderella’s needs. The reason for this is that I find it to be the nursing model which is very effective in assessing basic day to day activities which have its own importance to the survival of life;  also it follows the objectives of my graded unit. For the purpose of this project I will focus on maintaining safe environment in relation to Cinderella’s HCV antiviral therapy. Cinderella had been referred to Peter Brunt Centre at Aberdeen Royal Infirmary by her GP due to the result of blood test which revealed Hepatitis C antibodies. After a number of blood tests and liver biopsy Cinderella had been diagnosed with Chronic Hepatitis C with genotype 1 and mild liver damage. HCV is a disease caused by blood – borne virus Hepatitis C, which infects the liver and causes its inflammation (British Liver Trust 2010). The term chronic describes illnesses that last for a lon g period of time (more than six months) or for the whole life. The liver is an organ which is a part of the digestive system and carries out numerous important jobs’ such as; detoxification, aiding digestion or extracting nutrients. These play a vital role in maintenance of equilibrium of the body internal environment, known as a homeostasis. Due to prolonged liver inflammation scaring of liver tissue occurs (fibrosis) and permanent liver damage is likely to occur (cirrhosis, liver cancer). As a result liver work capacity become impaired and the whole body may become poisoned (WHO 2011). There are several effective HCV treatment options available however none of them gives a one hundred percent guarantee. Nevertheless, adequately matched therapy can permanently clear the virus from blood and prevent liver from further damage. Cinderella after consultation with liver specialist doctor and liver specialist liver nurse decided to undergo HCV treatment known as a ‘triple therapy’ which is recommended by National Institute for Health and Clinical Excellence (NICE) The effectiveness of treatment among other factors lay in an adequate dosage and duration of medicine intake. Both too low or too high dosage as well as side effects of medication may negatively impact Cinderella’s physical health and put her life at risk. To maintain the patient safety it was agreed that Cinderella will be visiting PBC every Monday for blood tests and weight checks. To ensure Cinderella’s safety I will follow appropriate NHS procedures and policies (NHS Procedure guidelines: Weighing the patient 2008) in line with the Health and Safety at Work Act (1974). To perform chosen activity I will require specific resources which I listed in Appendix 3 and project timescale (see Appendix 4). I have obtained consent from a different patient who is also visiting PBC this day if for some reason I will not be able to complete it with  Cinderella. References Health Protection Scotland – a division of NHS National Services Scotland. (2009). Blood Borne Viruses & Sexually Transmitted Disease . Available: http://www.hps.scot.nhs.uk/bbvsti/hepatitisc.aspx. Last accessed 25yh March 2013. The Scottish Government (2011). The Sexual Health and Blood Borne Virus Framework 2011-15 . Edinburgh: Scottish Government. p31- 42. Grundy G, Beeching N . (2004). Understanding social stigma ii women with hepatitis C. Nursing Standard. 19 (4), 35-39. Gilman S (1999) Disease and stigma. Lancet. 354, Suppl, SIV15. World Health Organization. (2012). Hepatitis C . Available: http://who.int/mediacentre/factsheets/fs164/en/index.html. Last accessed 5th April 2013. Nicole Cutler. (2007). Breaking the Hepatitis C Social Stigma. Available: http://www.hepatitis-central.com/mt/archives/2007/08/breaking_the_he.html. Last accessed 7th April 2013. British Liver Trust. (2011). Facts and functions of the liver. Available: http://www.bbc.co.uk/health/physical_health/c onditions/in_depth/liver/liver_facts_functions.shtml. Last accessed 11th April 2013. Maslow, A. H. (1970). Motivation and Personality. New York: Harper & Row Rogers, Carl. (1951). Client-centered Therapy: Its Current Practice, Implications and Theory. London: Constable. Miller,J and Gibb, S (2007). Care in practise for Higher Second Edition. Paisley: Hodder gibson. 202-204. Nursing and Midwifery Council (2008). The code: Standards of conduct, performance and ethics for nurses and midwives. London: NMC. p2- 8. Roper, Logan, Tierney (1980). The elements of nursing. Edinburgh: Churchhill livingstone. 141.

Organizational Performance Management Table Essay

After you have completed your individual research on your chosen type of health care organization, collaborate with your Learning Team to complete this table. Then, refer to this table as you collaborate to write your paper. Include this table as an appendix to your paper. Fill in the necessary information in each cell, but be as succinct as possible. 1. Provide names of or links to specific organizations. Summarize key products or services provided by each type of organization and identify the primary customers they serve. Organization One Organization Two Organization Three http://www.fda.gov/ U.S. Food and Drug Administration 2. Outline the overall content of the major regulations, accreditation requirements, and other standards that affect each organization. Provide the title, section, parts, or subparts or the numbering system and so on of the specific regulations or accreditation requirements. For example: Use of electronic signatures in electronic medical records is equivalent to handwritten signatures on paper; FDA regulation; Title 21 CFR Part 11, Subpart C, Â § 11.200 Electronic Signature: http://www.accessdata.fda.gov/scripts/cdrh/cfdocs/cfcfr/cfrsearch.cfm?cfrpart=11 Organization One Organization Two Organization Three Food and Drug Administration Safety and Innovation Act (FDASIA) Because of their importance, an agency’s rulemaking plans are of great interest to a wide range to stakeholders. Therefore, the Federal Government publishes a semi-annual agenda of upcoming regulations in the Federal Register, usually in the Spring and Fall. As part of FDA’s Transparency Initiative and FDA Transparency Results Accountability Credibility Knowledge Sharing (TRACK), we are also providing periodic updates on FDA’s Unified Agenda rulemakings. On the Unified Agenda-TRACK Web page, we will maintain an updated agenda of FDA’s Unified Agenda rulemakings. 3. Highlight the effect of each organization’s regulations, accreditation requirements, and other standards on the risk- and quality-management functions and activities. Organization One Organization Two Organization Three The scope of FDA’s regulatory authority is very broad. FDA’s responsibilities are closely related to those of several other government agencies. Often frustrating and confusing for consumers is determining the appropriate regulatory agency to contact. The following is a list of traditionally-recognized product categories that fall under FDA’s regulatory jurisdiction; however, this is not an exhaustive list. In general, FDA regulates: Foods, including: dietary supplements bottled water food additives infant formulas other food products (although the U.S. Department of Agriculture plays a lead role in regulating aspects of some meat, poultry, and egg products) Drugs, including: prescription drugs (both brand-name and generic) non-prescription (over-the-counter) drugs Biologics, including: vaccines blood and blood products cellular and gene therapy products tissue and tissue products allergenics Medical Devices, including: simple items like tongue depressors and bedpans complex technologies such as heart pacemakers dental devices surgical implants and prosthetics Electronic Products that give off radiation, including: microwave ovens x-ray equipment laser products ultrasonic therapy equipment mercury vapor lamps sunlamps Cosmetics, including: color additives found in makeup and other personal care products skin moisturizers and cleansers nail polish and perfume Veterinary Products, including: livestock feeds pet foods veterinary drugs and devices Tobacco Products, including: cigarettes cigarette tobacco roll-your-own tobacco smokeless tobacco 4. Specify components of performance-management systems—policies and procedures, self-audits, benchmarking, complaint management, corrective or preventive action, education and training, communication, and other mechanisms—to be used by each organization. Organization One Organization Two Organization Three Risk communication staff: Our Risk Communication Staff’s objective is to assess and enhance FDA’s approaches to effectively communicate the risks and benefits of using FDA-regulated products. This includes providing leadership in identifying, developing, conducting and promoting cross-cutting research, promoting understandable communication, and finding ways to improve the consistency and effectiveness of our communication approaches. This program also directs the activities of FDA’s Risk Communication Advisory Committee, which was established: to advise on strategies and programs to communicate the risks and benefits of FDA-regulated products so as to facilitate optimal use; to review and evaluate FDA’s and others’ research relevant to such communication; and to facilitate interactively sharing risk and benefit information with the public to help people make informed independent judgments about use of FDA-regulated products. Our major functions include: Coordinating development of agency policies on risk communication practices. Coordinating agency strategic planning activities concerning risk communications. Coordinating agency research agenda for risk communication methods. Facilitating development and sharing of risk communication best practices and standard operating procedures. Conducting risk communications research on methodological and cross-cutting issues. Leading management and coordination of the FDA Risk Communication Advisory Committee. Staffing and co-leading FDA’s Communications Council 5. Provide links to any relevant sources that will be useful as your Learning Team completes the paper. Organization One Organization Two Organization Three Fda.gov

Identity the ftre written Essay

Introduction Identity Theft is considered to be major problem which has affected thousands, more than 9 million victims of credit identity theft were reported in 2003, it was estimated that the victims were deprived of more than 52 billion dollars through identity theft; the victims included established businesses and individuals. It has been learnt that ‘sophisticated organized criminals’ (Richard, 2003) were involved in identity theft. Identity theft is considered as an intimate abuse that is mainly responsible for the financial losses of the grieved victims. Identity Theft is ‘appropriation of another’s personal information’ (Whilk, 2003), the purpose of the exercise is to practice fraud, and the victim is impersonated by the culprits in this practice. Identity theft is mainly linked with the leakage of confidential information that is later misused by the culprits to achieve benefit. It has been observed through past cases of Identity theft that most of the culprits have enjoyed access to the victim directly, or the information related to the victim through different dealings. The nature of the dealing is not particular, in some of the cases associates and acquaintances have been involved have been found guilty of Identity Theft. According to studies, Identity theft involves three parties that include the victim, the perpetrator and the creditor. Victim is the person who fells prey of the criminal activities without any knowledge of it; the perpetrator is the individual who impersonates the victim, and executes identity theft, the perpetrator in many of the cases have the access to the information of the victim. The creditor is the personal who is familiar to both the perpetrator and the victim, the creditor support and develop the perpetrator plan. In some of the cases the fourth party is ‘the source of the personal information that is being abused’ (Whilk, 2003). Types of identity theft Pretexting Pretexting is considered to be one of the forms of Identity Theft; in this exercise one culprit impersonates the victim, ‘such that one calls under the pretext being that person’ (Richard, 2003). The exercise is normally performed to secure personal information that includes telephone records, and details of bank accounts. According to studies it has been observed that in many of the cases the4 victims are unable to detect their identity theft through pretexting. Credit Card fraud The evolution of internet has made it easier for the interested customers to avail deals through internet. Credit card facilities launched by several banks have tried to facilitate the customers, and have provided them with an easy opportunity to avail deals through electronic transaction via credit card. Unfortunately the sharing of information has often been leaked, and many of the cases of identity theft have been reported. According to study, ‘running up charges on another’s credit card, or passing checks of another, is a form of identity theft’. Identity theft is this case is practiced through appropriation of ‘the signature, account number, and other aspects of another’s identity’, the purpose of the entire exercise is to secure financial benefits on other expenses through unethical and illegal practice. New account fraud Identity theft has been reported through malpractices related to the opening of new accounts. In such case, the criminal uses the identity of the victim, and then after fulfilling the formalities of credit card companies borrow the money. Criminal identity theft In some of the cases it has been reported that criminals impersonate innocent people after their arrest, and have managed to escape successfully. In such cases, the innocent individual then has criminal record, and in some of the cases arrest warrants have also been issued. It has been researched that it is easier for the criminal to link their personality with the victim, and later manage to escape, however in the police records many such individuals are blacklisted who have reported their ignorance about the incident, and have proved their presence in foreign country at the time of criminal activity. Identity Theft as Abuse In the survey which was conducted in 2004, it was observed that domestic abuse has direct relationship with Identity Theft; it was observed that more than 15 percent reported that ‘they were also victims of domestic harassment and abuse from the perpetrator’. Identity theft is also conducted by the strangers, and in some of the cases organized criminal networks are involved in such practices. The identity theft is solely conducted to achieve economic gains through false identity, there it is expected that an authority with financial stability is likely to be the victim, ‘domestic violence is sometimes accompanied by economic abuse, such as controlling access to wealth or destruction of property’ (John, 2002). Much because it is difficult to trace the culprit involve in the identity theft, the practice is considered to be extremely lucrative for the abuser, where as the malpractice has ‘long lasting and debilitating’ (Robert, 2003) impact on the status, repute and character of the victim. The survey revealed that, ‘identity theft victims spend a median of one hundred hours rectifying the damage, and lose thousands of dollars in lost wages and other expenses’ (John, 2002), more than 50 percent of the victim have complained that they are subjected to repeated interrogations and false implications by the law agencies even after 2 years after the revelation of their identity theft, whereas as some reported that they are subjected to false implications for more than decade. According to the Stalking Resource Center at the National Center for the Victims of Crime, explained that ‘stalking as a course of conduct directed at a specific person when one knows or should know that the course of conduct would cause a reasonable person to fear for his or her safety or the safety of a third person; or suffer other emotional distress’ (Kristin, 2004), therefore stalking can be considered as a derivative of the stalking. The discussed surveillance, pretexting, and credit identity theft are directly related to stalking. Pretexting is not considered as an offence of extreme tribulation for the victim, the pretexter can only secure the right to access the accounts, and telephone record. Therefore the expected threats and damages through pretexter include the cancellation of the victim’s account, electric, gas and credit car accounts. However the cases of identity theft related to credit cards have subjected the victim under serious consequences. The survey report found that, ‘distress caused by credit identity theft is real, the victims report rage and anger; personal financial fears; fears for family financial safety; a sense of powerlessness and of feeling defiled’ (Kristin, 2004). Preventive Measures The measures to be necessarily adopted by the public to avoid any incident of victimization through identity theft include issuance of the credit report periodically. The public should also ensure that their credit limit is not too high, so that even in case of any manipulation the financial loss can be adjusted. The public should avail the scheme for the monitoring of their credit, through which unexpected financial dealings can be tracked. It has been learnt that Fair Credit Reporting Act has provided the public with an opportunity to place a fraud alert on their credit report, through such scheme the creditors have the right to access to verify their credit. References 1. Kristin Loberg. Identity Theft: How to Protect Your Name, Your Credit and Your Vital Information. Silver Lake Publishing. 2004. 2. Robert J. Hammond, Robert J. Hammond, Jr. Identity Theft: How to Protect Your Most Valuable Asset. Career Press. 2003. 3. John R. Vacca. Identity Theft. Career Press. 2002. 4. Whilk, Nathanael. Identity Theft: Preventing Consumer Terrorism: An Attitudinal Approach. Silver Lake Publishing 2003. 5. Richard M. Stana. Identity Theft: Prevalence & Cost Appear to Be Growing. Prentice Hall. 2003.

12 Angry Men and the Psychology of the Jury Room Essay

12 Angry Men and the Psychology of the Jury Room - Essay Example The 1957 film 12 Angry Men perfectly captures the tension of the jury room, where life-and-death decisions come down to not only careful deliberation, but inner prejudices, self-concerned personal priorities, and invective. Ultimately, the human ego plays just as important a role in the film’s outcome as the examination of evidence and witnesses in that cloistered room. The protagonist of the film, Juror #8, is â€Å"the only skeptical (and rational) man in the jury room† who â€Å"shines incorruptible† throughout the entirety of the movie (Verrone 96). Juror #8 is the lone standout at the beginning of the jury deliberations, which angers many of the other jurors who feel it is an open-and-shut case. But Juror #8 explains his hesitation: â€Å"It’s not easy to raise my hand and send a boy off to die without talking about it first† (12 Angry Men). Juror #8 represents caution and consideration in the jury room. The character does not demonstrate some of the same logical flaws as his fellow deliberators: he is depicted as lacking the prejudices, biases, and egotistical self-absorption that prevent the other jurors, at least initially, from considering all of the facts in the case. In an effort to open the other jurors’ minds to the possibility of the boy’s innocence, Juror #8 takes on an almost aggressive role in trying to sway several of the jurors, particularly Juror #3, â€Å"whom he goads and satirizes on occasion to try to show him his own potential for violence that subconsciously prejudices him against the youthful defendant† (Cunningham 115). Juror #3 plays the role of the main antagonist and seems to relish the idea of sending the boy to his death. Along with the virulently racist Juror #10, he represents the darker aspects of human behavior in that jury room, with a furious anger bubbling underneath the surface throughout most of the movie. Juror #3 fiercely maintains his verdict of â€Å"guiltyâ⠂¬  even in the face of the other jurors’ conviction that the boy is innocent. In a narcissistic appropriation of the case in his own mind, Juror #3 equates the boy on trial with his own estranged son—his prejudice is born from his relationship with the child who rejected him and the â€Å"barely suppressed violence† (116) that drives his behavior in the jury room. Ultimately, his belief in the boy’s guilt has little to do with the facts of the case. It is not until he feels—and accepts—the shame of his own failings as a father that Juror #3 is able to vote logically as opposed to emotionally and irrationally. Juror #8 â€Å"wins† in the end because he is able to subtly manipulate the other eleven men into looking at the case in a similarly logical manner. In this way, he is also the most Machiavellian character in the film, astutely manipulating the other characters into deliberation by observing their behavior carefully in the jury room. Juror #8 couches his decision in the language of negotiation, thus carefully avoiding an outright claim that he truly thinks the boy is innocent: â€Å"He explained that he voted ‘not guilty’ not because he is sure of the defendant's innocence, but because he wished to discuss the case objectively, without prejudging the defendant. This minimized the group’s antagonism and alienation† (Evirgen 181). Juror #8 employs his observational skills to determine each juror’s underlying bias and motivation, and then uses that knowledge to â€Å"marginalize †¦ his most vocal enemies†Ã¢â‚¬â€Jurors #3 and #10—and â€Å"shift †¦ the dependence of ‘in-the-middle’ jurors to himself† as opposed to them (181). He systematically destroys each man’s preconceived notions of the boy’

Structural Stagnation Dilemma Essay Example | Topics and Well Written Essays - 500 words

Structural Stagnation Dilemma - Essay Example Economist deliberated on the new issue which carried much weight to the US economy and several hypotheses were put across. The economist named this strange phenomenon as the structural stagnation dilemma. The argument was that the problem that had recently hit the US economy were not just normal economic issue, but structural problems caused by globalization. Regardless of whether one approves the structural stagnation dilemma presented by various author, it is quite useful in generating ideas this problem. It illustrates how economic reasoning blends distinct economic concepts and ideas from both macroeconomics and microeconomics into a reasonable explanation for contemporary events. Secondly, the economic reasoning is supported by empirical testing of the ideas hence giving more reliable information. According to this argument, structural stagnation has both the short-term and the long-run causes. The short-run economic causes are intricately linked to consequences of the financial crisis. The long-run manifest itself in issues such as globalization, trade deficits, and exchange rates. These two are perfectly related in that one of the core problems of this financial problem was that the government was trying to avoid handling problems brought about by globalization. The structural stagnation can be explained from a number of economic fronts. For instance, US have experienced a couple of recessions before; however, the recovery has always been slower with each passing recession. The growth has also been slow and gradual. Intuitively, this pointed out to some possibility of other causes rather than just recession. Faced with this kind of problem with each passing year, the economist began to grapple that something must have been wrong with the economy. This was the hallmark of the structural stagnation theory which predicted a recovery characterized by slow growth

Compare and contrast Essay Example | Topics and Well Written Essays - 500 words - 20

Compare and contrast - Essay Example ies Work, when discussing the language of film said that when he was a kid, â€Å"I thought that movies were made in an hour and a half and that they were shot in sequence.† I can relate to that statement prior to actually learning more about how to appreciate how films are made. I never realized that so many factors took place when creating the perfect scene. The plot, content, character, music, lighting and camera angles have to be just right in order to convey the message that the filmmakers want their audiences to see so that it is engaging. Now that I know a lot more about what goes in to making a film and that I realize that sometimes there are more methods of looking at a movie from a cinematographic perspective, it means something completely different. There are themes in movies that are underlying the whole plot and sometimes they can be difficult to identify. However, when looking at film, I realize I am able to do it with a more critical eye. It makes it harder to watch movies just for entertainment. I now find myself noticing simple jump cuts or if a portion of the plot is missing continuity. I had also never thought about the different places that I have watched films. If it were in the theater, on television, on a computer or a phone, some of the elements can get lost. Sure, a person is able to view a movie but not with the same impact. In a theater, it is easier to just get lost in the movie. The effects are so much more intense. I think of movies that I have seen on DVD or online and wish that they were something I had seen in the theater because it would have been a completely different experience. On a computer there are sometimes elements lost because of the aspect ratio on the screen. Parts of the film can get cut off. The same is true with watching it on a mobile phone. The movie picture is simply too small to be able to capture all of the elements so part of the message can get lost because it is harder to see little details

Method of Enquairy 2 Essay Example | Topics and Well Written Essays - 1250 words

Method of Enquairy 2 - Essay Example This means that customers are getting better services over the past five years (Wichita State University, 2009). Earlier airlines were not for common people as it was the symbol of luxury and class. But today, it is accessible to the common people due to the arrival of low cost airline. Moreover globalization results to increase in number of airline passengers as more number of countries is developing at high rate. Most of the airlines are focusing on this growing trend of airline travelers and in order to capture the growing market they are coming with different innovative schemes and offers (FRBSF Economic Letter, 2002). Generally there are two classifications of airlines customers. One is economy class and the other is business class. But this classification is no more applicable as nature of customers is getting more and more complex with the increase in the total number of customers due to various socio economical changes. As a result identifying and understanding customers’ needs and demands are the biggest challenges that the airline industry is facing today. Today customers want more value for their money. But different customers want this in different way. A person who is travelling once or twice a year, his/her expectation from the airline would differ from a person who is frequent traveler by air. Airline companies need to have clear understanding of this differing nature of expectation of the customers so that they can provide the right service at the right time. There are various factors on the basis of which customers can be segregated. These factors include demography, economy, s ociety, culture, geography etc. Companies can have clear idea regarding the customers’ needs and wants on the basis of these factors. Analysis of these factors would help companies in adopting their future strategies. According to the recent data published by American Customer Satisfaction Index, satisfaction level of

Compound Interest and the Power of Saving Essay

Compound Interest and the Power of Saving - Essay Example Interest in a nut shell is the cost of buying and selling money. The Banks buy money from you when you deposit money in the savings accounts or Certificate of Deposits at the Banks. The Banks give you a rate of interest on those accounts. But what do banks get out of that They then sell the money through loans and credit cards. So let us suppose the Banks give you 3% interest rate on the savings account and get 8% interest rate on a loan they give out. Essentially they make a profit of 5 % on that money. Now what is compounding of interest Simply put when interest is being paid on some money, that interest is added to the money and then the interest clock starts ticking on the new amount. Though it does not particularly sound exciting it is a very powerful concept and if utilized well can financially benefit anyone who understands it. To understand this concept an old parlor trick question can help. That question is, what would you prefer $1000 everyday for a month or a penny doubled everyday for the month (i.e. 1 cent the first day 2 cents the second day 4 cents the third day etc.). The mathematically astute person knows that this is a no contest and the person taking the penny doubling offer wins by a huge margin. The compound interest can be explained like this .Simple interest as we already know is the interest that is derived from only the investment in a principal amount. Say we take $100 and put it in an investment for one year at a simple interest rate of 10%. We multiply the interest rate of 10% times the principal amount of $100 to derive an interest payment of $10. This seems fairly obvious and straightforward. But let's look at what happens in the second year if the interest is not paid out. In a "compound" investment, the interest is not paid out to the holder; it is built up within the investment. Consider our $100 above. If the interest was paid out after the first year, we would get our $10 in interest and have our original $100 still invested. If the interest is not paid out, however, we would have our original principal of $100 plus $10 in interest for a total of $110 at the end of the first year. This entire amount would bear the original interest rate of 10% for the second year. Not only would we get 10% or $10.00 in interest on the original principal of $100, we would also get $1 which is 10% on the $10.00 interest from the first year. Our total interest received would be $11. This would continue into the third year. At the end of the second year, since we have not paid out any interest, we would start with our $110 from the end of the first year plus the $11 we earned in the second year. This would give us a third year opening balance of $121 which would bear interest of 10% for the third year. Our 10% interest on $121 equals $12.10. Assuming we still don't pay out any interest, we will now have a total investment of $133.10. Well it still does not look too exciting. But let us extrapolate this further. If we leave t his $100 alone for about 30 years we will end up with a $ 1000. Now that is interesting but definitely not exciting. Well how about this using the same mathematics if you save a $100 a week in thirty years that is One Million dollars. Now that without any doubt is exciting. But this sounds too good to be true, so the skeptic in me says that most likely in 30 years Million dollars would be

'Military interventions by Western states, in response to humanitarian Essay

'Military interventions by Western states, in response to humanitarian crisis since the end of the Cold War, have been motivat - Essay Example However, the legality of military interventions where there are humanitarian crisis is always in question. This is so since, there are no legal platforms that allow foreign country’s military forces to occupy or use force in another country without the consent of the invaded country’s government. Thus, this paper will examine how humanitarian interventions have been motivated by moral values rather than legal actions by carefully examining the major humanitarian intervention that western countries have undertaken since the end of the cold war and the ethical and moral theories that are considered when undertaking such interventions. On examining such interventions, it is possible for to determine whether morality is the factor behind humanitarian interventions by western countries. Body (for) Indeed military interventions due to humanitarian crisis have been motivated by moral values and not political or economic interests since there have been various military interven tions around the world where there is no political or economic gain in question. ... This turned into a civil war where the then government ordered the massacre of innocent civilians. The United Nation tried imposing economic sanctions but the atrocities did not end. Were it not for the actions of the United Nation to mandate a military intervention then the violation of human rights by the then Libyan government could not have come to an end. Kosovo is another good example of how military intervention motivated by moral values resulted in positive results. More than 230,000 people had been internally displaced due to the civil war in Kosovo and thousands of innocent civilians had been killed. The western countries could not sit and watch while crimes against humanity were being committed in Kosovo. As a result of their moral obligation in 1998 both the United Nations and NATO agreed and military intervention by western countries took place in Kosovo resulting in the end of the Humanitarian crisis in the country. The situations in the two counties clearly show that m ilitary intervention by western countries is morally right because it resulted in the saving of lives in the respective countries. Body (against) International politics are dominated by western countries that try to impose western ideologies o the other countries raising the question whether moral values or political interests motivate these interventions. This is because, western countries tend to warrant military intervention claiming their moral obligation whereas the truth of the matter is that some military intervention are actually carried out as a result of either economic or political gain. In fact Marxists cite the notion that former United States of America president Nixon comment that the USA offers aid to other countries in order to help themselves to prove that military

John smith 2 Essay Example | Topics and Well Written Essays - 250 words

John smith 2 - Essay Example However, after suffering from burns from gun powder he returned to England to receive treatment, never to return to the ‘new world’ again. He died at the age of 51 years (Apva.org). The site portrays topics on colonization, war for independence, business for profit motive through the Virginia company as well as diseases. There is a picture of Smith to the right of the page and above it at the top right corner there is an artifact looking like a broken medallion. The medallion has a picture which looks like that of Smith. On the other hand, there are extra links which offer more information about Jamestown, history, resources, publications, findings, and exhibits. The interactive features of this site include a platform for support, contact information of the site creators and a video link at the bottom of the page. The site has interesting graphics that are user friendly. The information is very enlighting and it offers an insight on the history that many people are not aware of. However, I fail to understand how Smith was a survivor in every extreme situation he was in. The most interesting things are how Smith survived and how he was a lucky man to having beautiful women and more so how adventurous and a leader he was. However, there is bias in the information that Smith was a boastful man while no literature can clearly account how he was. Conclusively, the site is educative, interesting and I would recommend for others to explore

Describe in detail the set of religious observances known as the Five Essay

Describe in detail the set of religious observances known as the Five Pillars of Islam - Essay Example The five pillars of Islam form the foundation of worship and dedication to the Islamic faith. They are: Shahada, Salat, Sawm, Zakat and Hajj (Ellwood, & McGraw, 2009). Shahadah is a statement of belief that professes monotheism and acceptance of Muhammad as the messenger of God (Allah) (Ellwood, & McGraw, 2009). The creed is customarily recited in Arabic during each call to prayer (Azaan) and when one wishes to convert to Islam. It is also believed that one should also recite the creed when they are about to die. Salat describes the obligatory set of prayers that each Muslim should partake in daily. It consists of five prayers that should be recited each day as defined by the Sunna (Hedayetullah, 2006). The first prayer is the Fajr that is performed at dawn just before the sunrise. The second prayer is the Dhuhr and is performed at noon after the sun has passed its apex. The third prayer is the Ê ¿Aá ¹ £r that is performed in the afternoon before the sun sets. The forth prayer is the Maghrib which is performed in the evening after the sun sets. The final prayer is the Isha which is performed at night. Each of these prayers comprises of a set amount of rakaÊ ¿Ã„ t (prescribed words and movements). All of the prayers are performed while facing the Islamic holy city of Mecca. Before each prayer, Muslims must partake in Wudu (Cleansing), achieved by washing themselves. The third pillar of Islam is fasting (Sawm). According to the Quran, there are three types of fasting that Muslims should partake in. During the month of Ramadan, all Muslims have to partake in ritual fasting. This type of fasting is mandatory and followers of Islam have to refrain from eating, drinking and other worldly pleasures from dawn to dusk during the whole period (Khan, 2006). They are also expected to be particularly attentive of other sins. The other two types of fasting are as compensation to penance and abstinent fasting. Sawm allows believers to

Moral Philosophy Essay Example for Free

Moral Philosophy Essay Hare uses the â€Å"indirect† version of utilitarianism. Hare believes that individuals can deliberate at the intuitive level. In dire situations where there is no time to evaluate decisions on a critical level, intuition maybe used to commit most acts. Direct utilitarianism follows a rigid rules approach to utilitarianism. Hare’s approach implies that certain acts done intuitively will become moral because the decision was made on a gut level instinct instead of simply following a set of rules. Hare attempts to distinguish his theories from â€Å"crude† or direct utilitarianism. However, it would seem that he does not remove the problems of direct utilitarianism, but he manages to create new ones. â€Å"An act (for act utilitarians) or rule (for rule utilitarians) is right if and only if the act or rule maximizes the utility of all persons (or sentient beings). † 1 Following the direct utilitarianism approach, there is no flexibility for human emotion or consequences. In addition, there is no true definition of what is right for all persons. An example would be a decision by a surgeon in an emergency room to save the life of an elderly priest or that of a young man that was in a terrible car accident. By the direct utilitarianism approach, the surgeon would have to ascertain what would be best for all persons. Such a decision would realistically be made deliberation and gut instinct. The direct utilitarianism approach does not answer what is best for everyone in this type of circumstance. The problem with Hare’s approach is one can prove virtually any moral dilemma with custom tailored and non-realistic circumstances where gut instinct would be used as the determining factor for the situation. There are no set guidelines for defining what is moral for these extenuating circumstances. Hare in general often speaks about conflicting desires, and he seems to adhere to Plato’s notion that being good coincides with being informed. What Hare fails to address is that some individuals might desire to do evil. Hare presumes that the individual is going to conform to the standards of society and use deliberation to not commit heinous and horrific acts. With the direct utilitarianism approach, individuals will act for the good of everyone thus more likely to conform to moral restrictions placed upon them by society. Hare’s approach states that individuals will follow gut instinct to do what is moral but at the same time Hare’s approach calls for individuals to follow deliberation when making some decisions. For the individual that is a sociopath, Hare’s response would be that the sociopath would â€Å"condemn those desires at a critical level†. 2 With the assumption of individual conformity to the group’s standard, Hare is contracting his gut instinct part of the decision making progress. Hare argues that direct utilitarianism cannot accommodate political rights because the government is an institutional set of rules and regulations. Direct utilitarianism assumes that the government knows what is best for the majority. Hare’s approach would require the individual to deliberate as to follow the rules set forth by the government. Using Hare’s approach it would be ethical for an individual to refuse to pay taxes or speed on the highway because there would’ve been a deliberation and analysis based on the critical level of thinking. Hare’s approach is more direct utilitarianism on the political issues because the individual will most likely make a choice that is inherently good for everyone to avoid negative consequences such as a speeding ticket or imprisonment. Each decision or choice that the individual makes results in some type of consequence. Hare’s approach to indirect utilitarianism does not address consequences. The direct utilitarianism addresses consequences because the individual is going to follow rules that are set forth for the good of the whole. Direct utilitarianism requires conformity to societal standards to maximize individual happiness. Hare’s approach requires that the individual deliberate and make a decision. Yet, the other part of his approach requires the individual to follow gut instinct while conforming to good of the whole to make an ethical decision. Instead of refuting the direct utilitarianism approach, Hare is supporting the notion that we all have a set of rules that we inherently follow. To strictly follow Hare’s approach to indirect utilitarianism, society would be in total chaos because virtually any circumstance can be manipulated to appear as though the individual was following instinct and thus making a moral decision. There are no overall guidelines for extenuating circumstances with Hare’s approach to indirect utilitarianism. Hare creates more chaos in trying to refute the direct utilitarianism approach instead of providing solid arguments for the nature of human beings and ethical decisions.

Development of Management Strategy for Growing Company

Development of Management Strategy for Growing Company Introduction Nowadays technologies are growing so fast that if we will not be able to adopt them in time, than our company becomes non-competitive. This project was done with an aim to apply gained knowledges in engineering and management course, to analyse how selected firm can be developed from engineering and management sides. Engineering studies will help from the one hand to apply engineering knowledges, but from the other hand to get known new technologies and how they make our life better. Universities experience in management and marketing studies will help to do analyses of rival companies and make clear how companys management can be improved or adopted from existing successful companies. There are two important processes in building construction, foundation and roof. Both constructions are equally important for building wellbeing. Foundation need to be designed and build up right in the beginning of construction, but roof need to be carry during all buildings life period. It means that roofs are every sequenced time of period that depends on material, need to be overlaid or repaired. On this theory was born projects engineering part. For projects object was selected a construction firm that focused on roof construction, its technologies and sheet metal works. By exploring roofing market will be determined its growing technologies with an aim to adopt them to selected firm. Exploring major roofing companies management, will help to improve chosen firm current way of management. Generally this project is based on roof technologies, management marketing research. Gained experience will be applied to chosen firm development in all directions. Aim Develop management strategy for a small company. Objectives 1. Literature review of management prescriptive strategy development: * Analysis of environment * Analysis of resources * Development of companys vision, mission and objective * Types of management strategies 2. Choose a company with an aim to apply management strategy 3. Literature review of chosen company 4. Develop management strategy to the chosen company 5. Develop additional management improvements 6. Conclusion Strategic Management Essence of Strategic Management According to the Emergent view there are strategist that suggest that it is hard to predict future and strategy need to be more dynamic with an element of risk. The Prescriptive view Strategic management is about defining a purpose and plans of organisation and work out the actions to achieve desired purposes. The essence of Strategic Management consist from two levels that are shown in Figure 1 and described below : * General corporate level Decision making process depends from in what type of business company belong. The leadership and culture of corporation are very important strategy management. * Individual business level Decision making process generally based on competing for customers, generating value from tangible and intangible business resources and focus on resources that can bring competitive advantage. Strategy is about relations of internal capabilities and external relationships. Figure 1 Essence of Strategic Management (Lynch, p5, 2010) (Lynch, p5, 2010) Approaches to Strategic Management There are exist two different approaches to strategy: Prescriptive and Emergent approach. The prescriptive approach Approach is based on idea that future is predictable and strategy development begins from Where-we-are now and all objectives and steps how implement ideas are developed. The prescriptive theory have three core areas: Strategic analysis, Strategic development and Strategy implementation. All three areas are closely related sequentially. The prescriptive strategy development process shown in Figure 2. Figure 2 The prescriptive strategic process (Lynch, p19, 2010) The emergent approach Approach is based on view that strategy emerges and developed during further period of time based on unpredictable environment. The final objective of emergent approach is unclear and objectives are developed during its realisation. Strategic analysis, Strategic development and Strategy implementation are interrelated. But because strategy is implemented by improvisation and allow mistakes, it is not need to make clear distinction in development and implementation phases. The prescriptive strategy development process shown in Figure 3. Figure 3 The emergent strategic process (Lynch, p19, 2010) Analysis of Environment Analysis of environment is a research of everything and everyone in external environment. It includes suppliers, customers, competitors, government, technologies etc. There are exist nine different tools how environment can be analysed and they are shown in Figure 4. Figure 4. Environment analysis tools (Lynch, p74, 2010) Environment basics There are three basic things that should be analysed: * Market definition and size Question need to be asked in this area is What is the size of market?. It is important to know market size because it will help to design strategy objectives. Market size usually shown in annual sales.  · Market growth After establishing market definition and size need to evaluate how much the market has grown in particular period of time, usually in a year. Market growth rate will influence strategy objectives. Organization that would like to grow quickly will be interested in fast growing market  · Market share It can be defined as ratio of all sales in a market that is detained by particular company. There are different ways how market share can be measured, but most important of them are Sales revenue and Sales volume. (tutor2u) (Lynch, p79, 2010) Degree of turbulence It is important to evaluate external conditions of organisation, specially dynamic of environment. In strategy environment will have high degree of turbulence it will be hard to apply analytical techniques. Environmental forces that influence organisation: * Changeability Degree of environment changeability that shows rate how external factors likely to change. Changeability splits further in such factors: o Complexity Degree of complexity of such factors as internationalisation, technological, social and political. o Novelty Degree of how often new situations influence environment. * Predictability Degree of how changeable environment is predictable. Predictability is subdivided in two categories: o Rate of change How fast environment changes. Usually rated from slow to fast. o Visibility of future Based on previous experience determine how predictable is future. Figure 5. Dynamics of environment. (Lynch, p81, 2010) After doing analysis of factors above will be possible see how stable will be strategy for particular environment. In predictable environment with low turbulence can be used prescriptive approach. In case of high turbulence better to use Emergent approach because of high rate of change where designed objectives can lose their value in short period of time. PESTEL analysis PESTEL is checklist type analysis that is widely used to analyse environment in different directions. Analysis rely on past experience and events that after listing can be used to forecast future or apply them on company improvement design. Factors that need to be discovered in PESTEL analysis:  · Political: o Government policy o Regulations  · Economical o World trends o GDP o Inflation o Unemployment o Energy costs  · Social o Changes in lifestyle o Demographic o Customer demand o Population o Culture  · Technological o Patents and products o Technology development o Speed and change of technologies o Innovations  · Environmental o Public opinion o Green issues o Recyclability o Renewable energy  · Legacy o Law o Health and Safety (Lynch, p82, 2010) Industry life cycle Entity of strategy will change as company move from one life cycle phase to another. In the Introduction phase, company try to attract interest in new product. As product became more recognizable and increase in demand than industry moves into next phase called Growth and with demand increase amount of competitors. Over time when market is saturated and most customers are satisfied with product life cycle proceed to Maturity phase where growth is slowed down. Few competitors may join in this phase, but hard to survive because of high competition. After Maturity phase cycle start to Decline. Whole process is shown in Figure 6. Figure 6. Stages of industry cycle. (Lynch, p87, 2010) Company have more opportunity to survive and gain more profit in life cycle early ages while entry barriers are low and there are only few competitors. But it is hard to determine the beginning of life cycle because if its unpredictable duration. (Lynch, p87, 2010) Key factors for success The Japanese strategist Kenichi Ohmae argue that for successful strategy organisation should define key factors for success that will help to define objectives more correctly. Key factors are resources such as skills, labour, experience or attributes that can bring competitive advantage to organisation. Key factors can be determined not only from internal advantages but also designed based on external environment. There are three factors need to be analysed:  · Customers What exactly customers want? Who are they? Are there any special segments? Why they buy from us? Need to be evaluated (Lynch, p95, 2010): o Price o Service o Product or service reliability o Quality o Technical specification o Branding  · Competition What factors help company to compete successfully? Who are our competitors? What factors influence competition? Need to be evaluated (Lynch, p95, 2010): o Cost comparison o Price comparison o Quality issues o Market dominance o Service o Distributors  · Corporation Companies technologies, organisational ability and marketing? Key resources of our competitors? Need to be evaluated (Lynch, p96, 2010): o Low-cost operations o Economies of scale o Labour costs o Production output levels o Quality operations o Innovative ability o Labour/Management relations o Technologies and copyright o Skills (Lynch, p94, 2010): Porters five forces One of the most important organisation analysis that need to be performed is evaluating environment forces that influence particular company. Such evaluation will help to gain better competitive advantage than rivals. Professor Michael Porter provide model (Figure 7) that helps evaluate forces that will help to understand organisation opportunities. Figure 7. Porters five forces model (Lynch, p95, 2010) The bargaining power of suppliers Every organisation require raw materials to produce product or service it mean that organisation depend from raw material suppliers. There are shown how suppliers can influence organisation: * If there are few suppliers it means that it is hard to switch to another supplier in case supplier is exert its power. * There are no substitute raw materials that supplier provide. * Organisation costs depend from suppliers price. If supplier increase price for provided material than costs will increase and organisation need decide: increase product price or not. Increased price can lead to lose of competitive advantage but if price stay the same that profit will be smaller. The bargaining power of buyers To make a profit organisation sell their products or service to customers. Every customer have need, wants and own opinion about particular product. Organisation should make customer power analysis to understand who have more influence over other. There are some issues: * There are only few buyers. Organisation have weak position and generally depend from customers and want to attract them as more as possible. In this case customers can easily influence organisation. * Product or service is undifferentiated. Customer can easily switch to product offered from other organisation. The threat of new entrants Entrance of new rivals is possible whet profit margins are attractive and entry barriers are low. Porter argue that there are seven factors that influence entry barriers: 1. Economies of scale Production cost are reducing when product volume significantly increased. These cost reductions provide entry barriers, because company entered in such market forced to keep small price to be competitive. 2. Product differentiation Brand, level of service, attracted customers provide entry barrier because by entering in such market will lead to spend extra funds and time to make new brand more recognizable and establish in the market. 3. Capital requirements Entrance in some markets require investment in technologies equipment, distribution etc. 4. Switching costs When customer is satisfied with provided service or product he is not thinking about other products and it is hard and require high investments to influence customers opinion. 5. Access to distribution channels Production need to be effectively distributed. It takes long time to establish own distribution channels and make it work profitably. 6. Cost disadvantages independent of scale Already established companies invested hardly in infrastructure and gained mayor buyers in the market. It becomes hard for new company to find what to start with, because infrastructure is already established and it is hard to involve changes. 7. Government policy Government tend to secure local companies and publish law that defend them. The threats of substitutes Substitutes is something that can replace a product or service usually provided for smaller price. Things that need to be analysed relative to substitutes: * Customer ability to switch to the substitute * The possible threat of obsolescence * What costs will provide switching to substitute Rivalry among existing firms Some markets and companies are more competitive than others. There are thing that need to be analysed (Model of competition): * Number of competitors * Size of competitors * Growth rate * Product differentiation (Lynch, p97-101, 2010): Four links analysis Most organisations links together to perform better with other companies help. Co-operation can lead such factors: * Reduce costs * Increase organisations sustainability * Open new market sectors The Co-operation usually divided in four subgroups that help more clearly define co-operation type and how it might be improved:  · Informal co-operative links and networks The organisation links and co-operates together on mutual basis without contract. The analysis need to be made to find out what opportunities will provide such link. Usually analysis contain from strengths and weaknesses. Need to pay attention by forming mutual contract because in case fraud it will be hard to prove that particular company is right.  · Formal co-operative links Formal co-operation is linked with legal contract. The difference from informal co-operation is in degree of formality. Such links usually form alliance or joint ventures that works together for many years to gain competitive advantage over rivals and take more market share.  · Complementors The Complementors are companies that supply products that add value to final product. Usually such co-operation is based on several companies that provide different skills and resources that work together on manufacturing of one product. Such organisations have interdependence between themselves.  · Government links and networks The organisations that have linkage with government. (Lynch, p102-105, 2010) Competitor analysis In most markets there are more than one competitor. It is hard to evaluate each of them and because usually it is done by taking few companies and making narrow evaluation. It will help to understand what advantages and disadvantages compare to organisation rivals have. Broad analysis of competitors and their power helps to find their forces. Basic analysis will consist from making competitor profile based on such issues:  · Objective An analysis of competitors objectives help to forecast its strategy. If competitor tend to gain market share then probably will start to implement aggressive strategy. If seeking profit growth than possibly competitor will invest hardly in new plant or improve technologies. Every objective can help to forecast rivals action. Companies annual statements can be useful in evaluating but need to be analysed wit attention because of factor of bluffing.  · Resources The type, size and amount of resources that provide competitive advantage to company need to be analysed.  · Past record of performance Can provide companys successful performance that can be adopted.  · Current products and services  · Links with other organisations Evaluate links, alliances and other types of co-operation than deliver competitive advantage.  · Present strategies Innovation, customers, investments, market share, product range etc. Evaluate how such things used for strategy purposes. Customer analysis Customer is crucial resource of company profit income. Any company will always be interested in as more as possible customer attraction. There are measurements that can be used in customer analysis: * Identification of the customer and market * Market segmentation and its strategic implications * The role of customers service and quality Previously market was based on Mass marketing theory where one product was sold to all customers. Nowadays is used Targeted marketing where company aims on particular market segment and provide product or service only for this segment. Market segmentation can deliver more opportunities to strategy: * Particular segments can be more profitable than others * Some segments can have less competitors that can provide competitive advantage * Some segments can have higher growing rate. (Lynch, p107-108, 2010) Analysis of resources and capabilities Analysis of resources and capabilities gives not only opportunity to look how resources provide competitive advantage but also help understand two important things: * How resources can provide higher profit and better service * Which resources provide competitive advantage and how they can they be improved all time. There are two way that goes interdependent: Value added and Sustainable competitive advantage (Figure 8). Path of resource analysis (Lynch, p119, 2010) Resources and Capabilities Resources and capabilities analysis aim is to recognize where is value added resources and explore what resources deliver competitive advantage to company. There are four questions need to be addressed to company with regard to resources and capability analysis (Lynch, p122, 2010): 1. What kind of resources and capabilities company own? 2. Why organisation have these resources? 3. Why they are important and what advantage they deliver to company? 4. How they can be improved? Figure 9 Sequence of resources and capabilities analysis (Lynch, p122, 2010) Analysis of resources and capabilities starts with full range analysis of resources. It is hard because of some resources are hard to measure. Resources and capabilities can be divided in three categories (Lynch, p123, 2010):  · Tangible resources Are physical resources that contribute to companies value added. These can be modern equipment, location, etc.  · Intangible resources Resources that have no physical presence. It can be companies recognisable brand name, culture, skills level etc.  · Organisational capabilities Such resources as management or leadership that manage tangible and intangible resources. Value added The role of resources in company is to add value and gain profit. The value adding process shown in Figure 10 and can be defined as the difference between product output price and the costs of input. Figure 10. Add Value process (Lynch, p130, 2010) The Value chain The value chain is a value of all activities that is linked with functional parts. Each part makes contribution in value add process. Company perform two types of activity that add value to product or service: Primary activities and support activities. Primary is activities that process itself. Support activities are performed by management and human resources. Porter designed companys value chain process that is shown in Figure 11. Where margin is difference between Total Value and Cost of performance Figure 11. The value chain (Lynch, p132, 2010) The primary activities add value to company by its own way and they are(Lynch, p132-133, 2010):  · Inbound logistics The areas that related to receiving raw materials and goods from suppliers, storing them till they will be required, moving and carrying within company.  · Operations The production area where products or services being produced.  · Outbound logistics The distribution of final product to customers. It is about transportation, warehousing, wrapping etc.  · Marketing and sales Analysis of customers needs and wants and deliver to customers information about what product or service company offer.  · Service It is about before product selling pre installation or after selling service. The support activities:  · Procurement The person or department that is responsible for purchasing raw materials or goods. The goods need to be purchased for as low as possible price and highest quality.  · Technology development The important are that need to be updated all the time.  · Human resource management Training, recruitment, management improvement, employees motivation is important for companies success.  · Firm infrastructure Background planning and control of system. The value system Every company have own value chain and at the same time belong to wide system that involve supply and distribution chain and customers chain. The competitive advantage can deliver suppliers that supply better goods to you rather than rival organisations. The value chain need to be evaluated and improved. Sources of competitive advantage (Lynch, p147, 2010): * Differentiation The development of exclusive feature or service that could appeal particular market. * Low costs Development of low cost product or service can attract more customers. * Niche marketing Concentration on particular market and distinguish and provide all necessary to appeal customers from this market. * High performance or technology Improved performance and customers needs satisfaction better than competitors will provide growth in the market share.  · Quality Provide quality that competitors not able to match. * Service Provide service that competitors not able to match. * Vertical integration The backward acquisition of raw material suppliers can increate competitive advantage. * Synergy The combination a parts of business that together could deliver better result success and profit than separate. * Culture leadership and style of an organisation The way how company is organised and managed. The good managed company will lead to employees satisfaction and improve their attitude to company. It will improve service, quality and deliver good environment for innovation. Resource based sustainable competitive advantage There are seven resource elements that can deliver sustainable competitive advantage:  · Prior or acquired resources Easier to create value on already available to company strengths rather than start from beginning.  · Innovative capability The innovation is important because it can deliver competitive advantage and improve entity.  · Being truly competitive Identify resources strength and opportunity is not enough because they need to be comparatively better than competitors as well.  · Sustainability Resources are more competitive if they dont have and cannot be substituted.  · Appropriability Resources must deliver success only to individual company, but not shared among others.  · Durability Good resources should last as long as possible. There is no reason to identify a competitive resources if they are not sustainable.  · Imitiability Resources should be hard to imitate. Defined resources need to be classified in hierarchy of resources (Figure 12) by their importance and delivered competitive advantage. Figure 12 Hierarchy of resources (Lynch, p151, 2010) Improving competitive advantage There are three methods how resources and capabilities can be improved (Lynch, p158-160, 2010): * Benchmarking Compare practice and experience with other companies and identify what improvements can be performed. The compared industry can be perform another kind of job, need to be copied only companies principles of operation. * Leveraging Exploit companies resources fully. That method can be subdivided in 5 prescriptive routes: 1. Concentration Focusing companys resources on the key objectives. 2. Conservation Exploit every resource or aspect available to company. 3. Accumulation Evaluate fully resources of company and use it where appropriate. 4. Complementarity Analyse resources with an aim to combine them. New combination can deliver competitive advantage. 5. Recovery Make sure that all resources generate produce as quickly as possible. * Upgrading resources The resource analysis can show that an organisation is losing its competitive advantage, so resources and technologies need to upgraded. Vision, Mission and objective of the company. Strategy purpose is explored by established mission and objectives of company. To identify mission and objective need to be evaluated why company exist and how value adding can be generated? Additionally need to be explored companys vision based on opportunities and how it can be evaluated. The purpose of the organisation The purposes of organisation need to be defined clearly otherwise it will be hard to establish proper strategy. To define purpose more clearly need to be considered six questions (Lynch, p221-226, 2010): 1. What is our activity and what should it be?  · Need to be considered the area of activity is it business or non-profit organisation?  · Evaluate what company is focused on should company concentrate on the purpose or it can be broad?  · Do company focuses on profit or diversifying? That issue can be defined broad or narrow.  · Usually strategists define purposes based on the competitive resources of company. 2. What kind of organisation do we wish to be?  · The company usually chose one of two areas: o Culture and style Organisations chose this area based on previous experience and developed history. o Challenges to be posed to members of the organisation. 3. What is relative importance of shareholders and stakeholders?  · Some companies purpose is to satisfy shareholders wealth. 4. Do we want to grow organisation?  · Is company growth is included in purpose or it should stay the same size? 5. What is our relationship with our immediate environment and with society in general?  · The purpose need to be considered with environment within which company perform. In immediate environment need to be assumed such factors as turbulence, competition etc. Society in general is about pressures that influence company. 6. How do we bring all these consideration together?  · The summary of purposes need to be stated in few sentences that will specifically describe. Vision for the future It is imagination of company that stakeholders, shareholders or owned would like to see it after a period of time. There are two views on the values that need to be explored to develop a strategy: * The irrelevance of strategic vision For approaching short-term goals strategic vision can be not performed. * The value of strategic vision Vision is a challenging and imaginative picture of the future role and objectives of an organisation, significantly going beyond its current environment and competitive position (Lynch, p227, 2010). There are a lot of reasons to develop a strategic vision and most important is that the vision is going far in future than organisation is and help to develop purposes how to get there. New vision can help to develop mission and objectives. The mission The mission of an organisation outlines the broad directions that it should and will follow and briefly summarises the reasoning and value that lie behind it (Lynch, p236, 2010). The mission need to be defined based on previously explored purposes. In prescriptive strategy mission is set to be realised in next few years. The role of mission is to develop direction which company will follow and try to realise. There are five elements of the mission statement that need to be explored and chosen appropriate: 1. Explore the nature of the company. In this case can be asked such questions as What business are company in? and What is desired business for company? 2. The mission should be developed from customers point of view rather than companys. 3. The mission should show the basic values and beliefs of the company. 4. The elements of sustainable competitive advantages need to be shown in the mission. 5. The mission need to show the particular reason for its choice to realise. The objectives Objectives are the aims that need to be realised to implement the mission. This process cover what and when is need to be done. In most cases objectives should be quantified and measurable, but sometimes such objectives as ethic, employee or customer satisfaction is hard to measure. Company should apply any measurements to hard measurable objectives with an aim to get a feedback how successfully they implemented. Usually companies set objectives in two areas: 1. Financial objectives Such as profit, cash flow, earnings per share etc. 2. Strategic objectives Such as customer satisfaction, market share, product quality etc. (Lynch, p242, 2010). Strategy options development When the purpose of company is defined need to develop a strategy options how to achieve it. After options development need to chose more suitable and that will bring advantage. SWOT analysis As a starting point of strategy options development can be summarising current position using SWOT analysis. SWOT is analysis that helps to find companys internal Strengths and Weaknesses, and external Op

Concepts of Mega Marketing

Concepts of Mega Marketing Is it possible to gain power over producers by reducing competition and utilising the techniques of what Kotler calls Mega Marketing? Is it possible to gain power over producers by reducing competition and utilising the techniques of what Kotler calls Mega Marketing? What forms of power might a supplier employ, and are there any risks in following this type of strategy? Suggest specific ways in which a supplier might achieve a competitive advantage through the general strategy of offering higher perceived value. The globalisation of trade and increasing competitiveness are issues of critical concern to businesses. The internationalisation of competition has created the reality that the competitive advantage of a wide variety of enterprises is declining. Changes in the marketing landscape have led to a concomitant re-examination and expansion of the underlying principles of marketing strategy. This essay explores some of these factors including the evolution of the marketing concept, domestic and global marketing challenges together with a discussion on generic strategies as a mechanism to achieve a sustainable competitive advantage through differentiation from a supplier perspective. Entry into one or many of the worlds 200 country markets is a function of the marketing strategy followed by a firm, and local country conditions. Marketing aimed at a national market (ie domestic marketing) faces a single set of competitive, economic and market issues across market segments including the tailoring of products to address export markets. International marketing is the next level of complexity whereby the firm becomes more directly involved in multiple marketing environments with adjusted market strategies as to how they sell, advertise and distribute to meet local conditions. Truly global marketing is achieved when a single strategy is followed for a product, service, or company in the global market that encompasses many markets or countries simultaneously. (Jeanette and Hennessy, 1998 and Kotler, 2000) The effects of globalisation and growth in competition may be beneficial to consumers and suppliers of goods and services given the potential for decreases in price and improvements in quality. The downside of global competition is its impact on domestic producers whose livelihood is threatened. Governments, and the local firms and constituencies that influence governments, can create barriers and uncompetitive conditions to limit foreign entrants to local markets. (Jeanette and Hennessy, 1998) The marketing oriented view of the marketing concept is that a firm bases its activities on the needs and wants of customers in an exchange relationship in selected target markets. Constraints in terms of the environmental milieu, such as laws, industry agreements and norms, influence marketing strategy. (Gronroos, 1994) This implies a balancing act to optimise production relationships to meet the ultimate customers needs and wants which become more complex in a multi-national or global marketing environment. McCarthys (1964) seminal marketing mix concept of product, price, place and promotion (4Ps) has equally evolved as different marketing mixes have been put forward for different marketing contexts including product versus service marketing and domestic versus global marketing. Work by Kotler (2000) suggests an adaptation to the marketing mix termed mega marketing as a strategy to enter blocked markets where discriminatory legal requirements, political favouritism, and cartel agre ements, social or cultural bias and unfriendly distribution channels exist. The model suggests an adversarial win-lose relationship rather than lean supply collaborative relationships in the value chain that recognise longer term interdependence. Cox (2004) argues that that win-lose relationships occur because buyers and suppliers misread circumstances and pursue inappropriate power and leverage strategies that reinforce an adversarial style. This may be especially true in a foreign marketing environment. Mega marketing is defined as the strategic co-ordination of economic, psychological, political and public relations skills to gain the co-operation of a number of parties in order to enter or operate in a given market. (Kotler, 1986, p117) By implication therefore, power and public relations are two extra Ps added to McCarthys 4P marketing mix concept. Kotler argues that the traditional marketers use of accepted theory is in itself an impediment to successful penetration of a blocked market and that it is not only penetration, but the retention of any market share by innovative methods that will ensure a sustainable competitive advantage for the firm. (Kotler, 1986 and Kotler, 2000) The use of power in this context is seen as a push strategy whereas public relations, is a pull strategy. Influencing public opinion has a longer lead time but its effectiveness in influencing the mindset of the constituency of the creator of the barriers to entry ensures a longer term success in the market. For example, firms may identify areas that will be positively affected by corporate social responsibility initiatives thus cultivating goodwill as part of a public relations initiative. (Zadek, 2001) The application of mega marketing principles differs further from traditional marketing in terms of higher investment costs, a mix of specialists to support the marketer and the use of power to achieve the firms objectives. The notion of inducement or reward as a means to achieve an end is common practice in a marketing environment. The use of coercive, legitimate, expert or referent power in order to influence on behalf of rather than over individual or grouping in order to achieve an end is less common. The use of coercion in an adversarial arms length hostile fashion to cause harm raises ethical issues, especially important in a world where good corporate governance is a critical success factor. The use of legitimate power through political intervention in favour of a foreign entrant is more likely to succeed as is the use of expert power where an exchange of funding for political campaigns, knowledge, or technical assistance in return for co-operation is used. Referent power and association with prestige in terms of the exchange can be equally effective. (Johnson and Scholes, 2002 and Schmitter, and Streeck, 1991) It is therefore the understanding and choice of appropriate power application in a given environment that determines an effective strategy in entering the market. The power structure of a target environment can be analysed by understanding of both the visible and invisible power actors. Power actors are agency or government and community stakeholders who have the capacity to take and effect decisions. The power actors may exercise power through pyramidal, factional, or coalitional structures. In a multilevel hierarchal or pyramidal structure, power is concentrated within a single, cohesive leadership group. In a factional structure, power is concentrated in two or more robust factions that are competing for power. In a coalitional structure, power is concentrated less strongly whereby actors and associations work together in fluid coalitions. An amorphous structure exists where power is diffuse, with little or no pattern of coalition building or centralised leadership. The inappropriate use of power or alignment with unsuitable power actors can damage the firms strategic outcome. (Keegan, 1999, Kotler, 1986 and Schmitter and Streeck, 1991) Und erstanding the power landscape in the context of the greater business and economic environment allows the marketer to plan a strategic intervention with the objective (for example) to gain power over producers and hence reduce competition. Kotler (1986) suggests that three broad power strategies can be followed: neutralise opponents by offering to compensate them for any losses, organise allies into a close coalition and hence reducing opposing collective power or turn neutral groups unaffected by the firms strategy, into allies. Licensing, joint ventures, and joint ownership represent alternative expansion strategies that depend on how the firm configures its value chain. Tactical implementation plans may be linear or multilinear depending on market requirements. The decision around the mechanism of entry into a market is an imperative that can minimise the risks associated with that entry and influence strategic advantage. (Kotler, 1986 and Kotler, 2000) Keegan (1999) argues that strategy is integrated action in pursuit of a competitive advantage. Understanding a firms unique value from a consumer perspective is the basis for ensuring that the competitive advantage is sustainable. The successful application of mega marketing principles to blocked markets to enable access will allow the firm to follow one of the two generic options developed by Porter that he identified as either leading in cost, or leading in differentiation. The first option encourages continuously growing competitiveness, while the second entails continuous quality improvement. Porter highlights the role of innovation as the capacity to generate knowledge and the key to building competitive advantage. The competitive scenario comprises inter firm rivalry impacted by the influence of suppliers and buyers threatened by substitutes or by new entrants to the industry. When describing the companys competition in relation to the competitiveness of nations, he identifies the companys strategy, structure, and rivalry as the source of competitive advantage. (Johnson and Scholes, 2002 and Keegan, 1999) The generic options translate into a matrix model with quadrants of cost leadership, product differentiation, focussed differentiation, and cost focus strategies. This allows strategic decision making with respect to the market scope and product mix within which a firms competitive advantage will be realised. For example, a policy of broad or narrow target market differentiation is appropriate if a firms product delivers actual or perceived uniqueness and quality in the eyes of the consumer. This may include better performance, superior design, or better fit with customer needs. Differentiation can be an effective strategy to defend market position and obtain above average returns through premium pricing. (Johnson and Scholes, 2002 and Keegan, 1999) Firms that succeed in a product differentiation strategy typically have internal strengths that include access to superior research and development capability, a reputation for quality and innovation, a skilled and creative product development team and a talented sales and distribution capability supported by a strategic marketing process that communicates and reinforces brand loyalty and the strengths of the product. Risks associated with this strategy are imitation by competitors and changes in customer tastes. Firms that succeed in a focussed differentiation strategy build on core competencies and concentrate on a narrow market segment in order to develop a high degree of customer loyalty as a barrier to entry to competitors. Although lower volumes increase the bargaining power of suppliers, cost increases can be more easily passed onto customers because product substitutes are not readily available. Few generic competitive advantages are long lasting and Hamel and Prahalad warn t hat the defence of existing of advantages is as important as the creation of future advantage. (Hamel and Prahalad, 1994 and Jeannet and Hennessey, 1998) In summary, the global marketing imperative to take advantage of opportunities for growth in an environment where protectionist policies inhibit expansion has led to an evolution of the traditional model of the marketing concept to include mega marketing as a mechanism to gain access to blocked markets. The successful entry into the market requires an understanding of the local environment and the application of power and public relations in order to gain competitive advantage throughout the value chain. Power over producers can be attained by reducing competition by means of a number of techniques by engaging the power actors through a researched power structure. At an industry level, the choice of entry mode could facilitate reduced competition based on alliances or collaborative business forms. An analysis and understanding of all risks associated with the selected strategy is essential, if a sustainable competitive advantage is to be achieved. As part of this approach, an applica tion of a differentiated generic strategy to the market may limit risk through premium pricing and reduce dependence on supplier costs. References Cox, A. (2004) The Art of the Possible: Relationship Management in Power Regimes and Supply Chains. Supply Chain Management: An International Journal. Volume 9, 5. Gronroos, C. (1994) Defining Marketing: A Market Oriented Approach. European Journal of Marketing, Volume 28, 10. Hamel, G. and Prahalad, C. K. (1994) Competing for the Future. Boston, Harvard Business Press. Jeannet, J. P. and Hennessey, H. D. (1998) Global Marketing Strategies Fourth Edition. Boston, Houghton Mifflin. Johnson, G. and Scholes, K. (2002) Exploring Corporate Strategy Sixth Edition. Harlow, Pearson Education. Keegan, W. J. (1999) Global Marketing Management. New Jersey, Simon and Schuster. Kotler P. (2000) Marketing Management, Millennium Edition. New Jersey, Prentice Hall. Kotler P. (1986) Megamarketing. Harvard Business Review Volume 81, 3. McCarthy, E. J. (1964) Basic Marketing. Homewood, Richard D Irwin. Schmitter, P. C. and Streeck, W. (1991) From National Corporatism to Transnational Pluralism. Politics and Society. Volume 19, 2. Zadek, S. (2001) The Civil Corporation. Sterling, Earthscan Publications.

The Character of Brutus in Julius Caesar Essay -- Julius Caesar Essays

The Character of Brutus in Julius Caesar      Ã‚  Ã‚  Ã‚  Ã‚   Brutus was a very important character in the play Julius Caesar written by William Shakespeare. He helped plan a plot against one of the most powerful people in Rome and killed the king to be. Brutus was well renowned for his deep thinking, his honor, and most importantly, his belief in stoicism.      Ã‚  Ã‚  Ã‚  Ã‚   Brutus's stoic qualities played a major role in his character. He trusted his wife Portia very much. In fact, he trusted her so much that he was even going to tell her about the plot against Caesar.      Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   "You are my true and honorable wife,   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   As dear to me as are the ruddy drops   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   That visit my sad heart"   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   ( II, i, 289-290)    She cared very much for him. She was willing to slice her thigh open just to prove her loyalty and trustworthiness to her noble husband. He also cared very deeply about his wife and he loved her very dearly.      Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   "O ye gods,   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   render me worthy of this noble wife!"   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   ( II, i, 303-304)    Because of his profound stoicism, Brutus did not seem to show his graditude much when Portia killed her self. He simply drank wine to get ride of the pain and told Cassius to never speak of his wife again.      Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   "Lucius a bowl of wine!   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   I did not think you could have been so angry,   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   O Cassius, I am sick of many griefs.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Of your philosophy you make no use   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   If you give place to accidental evils.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   No man bears sorrow better. Portia is dead.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Ha! Portia!   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   She is dead.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   How 'scaped I killing whe... ...   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   ( I, ii, 79-90)    Brutus had thought very deeply about joining the conspiracy. He had stayed up all night brooding about it. He feared that Caesar was gaining too much power and that soon Caesar would become king. If Caesar became king Brutus's dreams of Rome's Democracy would be shattered.      Ã‚  Ã‚  Ã‚  Ã‚   In conclusion Brutus was a very well respected man in Rome. He helped restore Rome to its original Democratic system. He ended up killing himself at the end of the play because of all the pressure. He had said at the end when he killed himself that      Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   "....Caesar, now be still.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   I killed not thee with half so good a will."   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   ( V, v, 50-51)    Work Cited: Shakespeare, William. Julius Caesar. Ed. Alan Durband. London: Hutchinson & Co. Publishers Ltd., 1984.   

Review of Literature on Abortion in the Family Essay -- Abortion Pregn

Review of Literature on Abortion in the Family Abortion is a very controversial subject that has been continuously argued over for the past few years and probably for many more years to come. Women who are making the decision are effected emotionally, mentally, and physically since their bodies are going through many changes which it is not accustomed to. The main controversy is, who's right is it to abort? Many will argue and say it is the woman's right to chose what she does with her own body, but what about the father's right? The man's involvement in the abortion decision is not about the woman's choice, it is about his own responsibility to her and the child (Arthur 1999). There are two sides to this abortion topic: the pro-life, which is those who are against abortion altogether, and the pro-choice, or those who believe it is the woman's right to choose if she wants to have an abortion. These two groups offer different solutions to the problem. The pro-life solution is to have the child and basically live with him/her. They believe abortion is not an answer. The pro-choice solution is abortion because of reasons they feel are appropriate. When pregnancy is unwanted women perceive the choice of abortion as the least of three evils: abortion, adoption, or keeping the child (Smith, 2000). Pregnancy changes a woman's life, regardless of whether or not it ends in abortion. The woman making the abortion decision looks at a variety of relationships to help her make the decision. Often, she will discuss her options with a physician or counselor. If she does decide to get an abortion, there are many factors she will have to face. According to an article in Business 2.0, written by David Shribman (2000), women who have had abortions are at greater risk of suffering emotional and psychological problems which may interfere with their ability to concentrate, make decisions, and interact with others. As a result, it reduces the woman's level of job skills and employment opportunities. Post-abortion women are more likely to engage in drug and alcohol abuse, often as a result of the guilt and negative feelings held inside of the m after the abortion. This may prevent them from entering other meaningful relationships. They are likely to become pregnant again and undergo additional abortions and are more likely to never marry, more likely divorce, and m... ... Legal abortion may help parents limit their families to the number of children they want and can afford, both financially and emotionally. Many unwanted babies are abused, neglected, or even killed by uncaring or immature parents (Smith 2000). There is a lack of babies up for adoption because abortion is legal. Perhaps if abortion was illegal, women could go ahead with the pregnancy and then give the baby up for adoption. Abortion is a significant issue in society that has a lot of conflicts. There is still no conclusion because one can see this problem from many different perspectives. If a person supports a pro-life or pro-choice group, they cannot judge objectively if the other group has a different way of thinking. Society cannot judge pro-life activists as a group who have no respect for a woman's right. On the other hand, one cannot say that pro-choice is a better group because they are more aware of human needs. Society will never understand the feelings of a woman who has had an abortion unless they are in her place. To solve this problem, society needs to spend some time to think carefully and to weigh both sides of the issue to make the best decision possible.

Coca Cola Economic Position Paper

Running Head: ECONOMIC POSITION Coca Cola Economic Position Paper ECO 365 Coca Cola is the world’s leading manufacturer and distributor in the beverage industry. The economic position of Coca-Cola is determined through careful analysis of the organizations history, market conditions, market trends, and finally the recommendations needed for the future of the organization in their economic position. Overview of the company will consist of the history, industry market, the role of government regulations, and issues or opportunities. History of Organization A pharmacist John Pemberton founded Coca Cola in 1886. Pemberton took the caramel colored concoction to Jacob’s pharmacy and added carbonated water. The initial take on this strange water was so good that Jacob’s pharmacy sold approximately nine glasses a day at 5 cents apiece. After Pemberton’s death in 1888, the colored water went on a century later to sell more than 10 billion gallons of syrup. During World War II, the company established manufacturing for overseas operations and by the end of the war had become an international company. Coca Cola has developed into the largest beverage organization since 1886, an unimaginable dream come true for the founder. Coca Cola operates â€Å"in more than 200 countries and market a portfolio of more than 3,000 beverage products including sparkling drinks and still beverages such as waters, juices and juice drinks, teas, coffees, sports drinks, and energy drinks† (The Coca Cola System, 2010). The core philosophy for the bottling of each product is on building local relationships with customers and communities and is the foundation for growth (History of Bottling, 2010). The mission of Coca Cola is â€Å"To refresh the world, to inspire moments of optimism and happiness, and to create value and make a difference† (Coca Cola, 2010) Market of the Coca Cola Corporation The Coca Cola Corporation operates in vast marketplace, that is to say the company operates on a global platform, expanding 200 plus countries. The Coca Cola Corporation focuses on the non-alcoholic beverage market in the â€Å"drink† industry. Incorporating over 400 brands and over 3,000 other beverage options, the Coca Cola Company is the largest beverage company in the industry. (Coca Cola Corporation, 2008) . The brand, Coca Cola, recognized as the world’s most valuable trademark is bringing in positive cash flows of over 8 billion dollars annually. (Coca Cola Corporation, 2009) . Role of Government Regulations Coca Cola bottlers are presently making non-refillable recyclable plastic bottles in the United States as well as markets around the world. Many bottlers offer refillable containers, which are also recyclable. Coca Cola states, â€Å"Legal requirements have been enacted in jurisdictions in the United States and overseas requiring that deposits or certain eco-taxes or fees be charged for the sale, marketing, and use of certain non-refillable beverage containers. † All of Coca Cola’s services in the United States and in other parts of the world are subject to a variety of environmental regulations and laws. In following the laws and regulations within the United States and around the world, Coca Cola has not nor anticipates any adverse affect on the company’s competitive position, capital, or net income. Issues or Opportunities The health issue challenge can disrupt the growth of the soft drink industry. However, opportunities exist for CCE to continue to stay ahead in the beverage industry. For example, penetrating multiple markets around the globe is a strategic move that will allow acquisition opportunities and enhance the market and financial gains of the company. In addition to acquisition efforts, tapping into the existing bottled-water market frenzy is another opportunity Coca Cola has to regain market growth. The beverage segment of bottled water is rapidly on an incline in the United States as more people are becoming aware of the need for a healthy lifestyle. By tapping into the bottled water segment, Coca Cola will strategically position itself for growth. Taste is the ultimate power behind selling a beverage; by offering flavored water to the consumer-markets, new and re-brand, loyalty is increasing. Re-brand loyalty is important because consumer segments that lost interest in soft drinks are looking to live better by a smarter selection of food and beverage. Market Structure _Current _Market Trends The Coca Cola Company (TCCC) operating in an oligopoly is a trend in the carbonated beverage industry not expected to change. This statement, made on the fact that the Coca Cola Company operates not only in the carbonated beverage market, but is a diversified corporation operating in the non-alcoholic drink market. The diversification of TCCC was necessary to continue its competitiveness with market trends in the industry. In recent years, the trends have shown the carbonated drink industry declining in lieu of the health conscious position. Simply stated, the company competes in a variety markets including teas, coffees, energy drinks, and many others facets of the industry. As a result, TCCC competes with only a few corporations in the drink market such as, Nestle and PepsiCo. (The Coca Cola Company, 2009) . TCCC, along with the competitors, operate in collusion with one another in an effort to maintain consistency and sustainability in the non-alcoholic drink market. An important point to note, oligopolistic organizations operate interdependently and are viewed as collusive (cooperating) or noncollusive (not cooperating). Oligopoly market structures have other defining characteristics that differentiate from the monopolistic competition market structure. Figure one provides some of the characteristics that define an oligopoly market structure. Figure one {draw:frame} Impact of New Companies Entering the Market _Current _Market Trends Currently, the carbonated beverage industry has three major corporations that have a strong presence in the market. The Coca Cola Company, PepsiCo, and Dr. Pepper Snapple Group maintain the majority structure of the market share in the industry. The statistics measured in 2008 have the Coca-Coca Company dominating at approximately 40% with PepsiCo and the Dr. Pepper Snapple Group placed at 20. 1% and 8. 5% respectively. The other players to the marketplace compose the remaining 31% (Datamonitor, 2009) . New companies have surfaced in the drink industry and have stirred the competition, at least enough for companies like TCCC and PepsiCo to be observant of their presence. Simply stated, TCCC monitors the newcomer and surveys the public reaction to the product. Figure two {draw:frame} New companies entering the carbonated beverage market would have significant entry costs (advertising and marketing) to compete with the majors previously identified. â€Å"The nature of the market demands an intensive marketing campaign in order to generate and maintain a successful brand image. With Coca Cola Company and PepsiCo so firmly established in this area, even aside from the costs, this acts as a daunting deterrent to potential entrants † (Datamonitor, 2009, p. 18) . Prices Current _Market Trends CCE's trailing-12-month return on capital (ROC) is 11%, compared to a stout 15. 9% for Coca Cola. (Pienciak, 2010) the company is already in a price war and needs to make a change to improve its competitive advantage in the market. For this reason, Coca Cola recently announced that it would obtain the world’s largest bottler of Coca Cola-owned beverages n ames. The merger should improve operations and assist in adjusting to customer preferences. Pienciak (2010) states, â€Å"Essentially, owning the North American bottling business boils down to flexibility—both in product innovation and pricing. Technology _Current _Market Trends Recent movements in technology for Coca Cola improvements and modifications have come from the market trend of cleaning up the atmosphere. Coca Cola is committed to putting as little pollution into the atmosphere as possible and has given a press release that states, â€Å"100 % of their new vending machines and coolers will be hydrofluorocarbon-free (HFC-free) by 2015. Coca Cola is committing to use its scale to aggregate demand and encourage supply as a means of accelerating the transition to HFC-free refrigeration equipment† (News Release, 2010). Productivity _Current _Market Trends Coca Cola offers one of the largest widely distributed products for beverages, in a market, which reaches across the globe. Coca Cola's products are so popular that three million people consume them annually. Its product line has 3,000 varieties (Coca Cola, 2010). Production systems include soda, water, juice, tea, and sport drinks. Productivity includes the system with fixed and variable inputs, including the manufacturing, the branding, the bottling operation, marketing activities, and, of course, one of the most important is the packaging. These market trends change with time as the changing needs, and desires of the consumers change The market trend productivity is on the rise for Coca Cola. In June of 2009, Coca Cola announced a new structure for productivity, the three new structures â€Å"Global Business Services, Global Information Technology, and Transformational Productivity† (Press Center, 2009). Because Coca Cola has created a new structure for productivity, they promoted five new executives, making room for more promotions and new hires. Cost Structure _Wages and Benefits_ _current market trends. _ Fixed and _Variable Costs current market trends. Fixed costs are those such as factories, which do not change regardless of the level of production. Variable costs include such things as cans, bottles, and hourly wages, these things directly relate to the level of production. Because of its vast economies of scale, Coca Cola has very low variable costs. Coca-Cola uses sugar, bottles, cans, and soft drink syr up as inputs. Because it is a very large buyer, it can use its influence to obtain these goods at reduced rates. Coca-Cola creates its own syrup, the recipe for which is a trade secret. TCCC sells Coca Cola Enterprises the syrup, which they use to create beverages, and then distribute. Therefore, in spite of Coca Cola’s relatively good salaries and benefits, its variable costs are a minor consideration. However, its fixed costs are considerable. Each factory costs millions of dollars to build and maintain, as well as the bottling equipment, recycling equipment and vehicles. Price Elasticity of Demand Current Market Trends â€Å"Price elasticity of demand is the percentage change in quantity demanded divided by the percentage change in price (Colander, 2008, p. 128) . Concerning the Coca Cola Company, price elasticity of demand is, at best, subjective to many areas of business. Geographic location, type of product/brand, and competition are facets considered subjective when speaking to price elasticity of demand. Market trends in price elasticity of demand relative to the â€Å"standard carbonated offering† (cola, sparkling) are concentric. Simply stat ed, the prices are inelastic to reasonable price changes; however, pressure from health groups may influence the future state of price elasticity of demand in the carbonated beverage industry. In recent estimations, â€Å"the price elasticity for all soft drinks is in the range of –. 8 to –1. 0. (Elasticity of –. 8 suggests that for every 10% increase in price, there would be a decrease in consumption of 8%, whereas elasticity of –1. 0 suggests that for every 10% increase in price, there would be a decrease in consumption of 10% )†(Brownell et al, 2009, p. 1602) . Competitors Current Market Trends Coca Cola is a very diverse organization with over 400 brands dividing into approximately 3,000 products. Competition includes companies such as PepsiCo. nd Aquafina; the variety of competitors stretches through the supply and demand chains to include organizations like Starbucks or any store that carries products other than Coca Cola brands Pepsi Co. is the leading competitor for Coca Cola because of the ties with the carbonated beverages for which both companies produce. PepsiCo and Coca Cola have fought a â€Å"Cola War† (Strauss, 2010 ) for decades with their marketing techniques and following the flow of market trends. Supply and Demand Analysis Current Market Trends In a new report from Beverage Digest, a remarkable downturn in the soft drink market is accelerating. Total US sales fell 2. 3% in 2007, which was worse than the 0. 6% drop in 2006, which was, in turn, worse than the 0. 2% decline in 2005. The carbonated soft drink industry has moved from roughly 3% growth in the 1990's to increasing rates of decline in the last three years. Then again, the US is doing its best to keep Coke afloat. Even with the recent declines, the U. S. still has the highest consumption of carbonated soft drink per capita in the world (Kedrosky, 2008). Coca Cola’s expansion into other markets has absorbed the decline in demand for carbonated soda, as the demand increases for their other products in the US. Globally Coca Cola’s demand is still increasing with expansion into newer territories. Impact of Government Regulations Current Market Trends Final Recommendations The analysis thus far of the economic position for Coca Cola is only lacking in recommendations for the future, price, production, and composition of inputs, global competition, and the possibilities of expansion. Government policy, social diversity, and business ethics will be necessary as part of the recommendations for the future status of Coca Cola’s economic position. Price As the world’s largest provider of non-alcoholic beverages CCE has positioned itself in the market as the standard for others to follow. Competitors are constantly knocking at the door and for this reason CCE needs to continue to be innovative with pricing strategies throughout the world market. The trend today is prices on non-alcoholic beverages are increasing, fuel, and electrical cost are higher causing companies to raise prices. CCE can maintain its position as the world leader by reducing costs and pass the savings on to customers. Production The North American and Western Europe markets have been difficult for CCE recently. Both markets have shown a decline due to consumers turning towards healthier non-carbonated beverages. Prices for raw materials that CCE needs to produce its products have become more expensive. To combat these obstacles CCE needs to provide innovative ideas and methods to reduce production cost. CCE could benefit from cutting down on employees and utilizing assets more efficiently. CCE might benefit from new products that are non-carbonated. New products would appeal to the healthier consumers. Composition of Inputs Many different inputs are needed to produce the 3,000 different varieties of Coca Cola products. Figure 3 below shows how some of these inputs work together to produce the final product. Figure 3 {draw:frame} Some of the other inputs are the quality of work performed by employees, and vendors who supply the bottling process. All of these inputs work together to create the most recognizable brand in the world. (Figure 3 provided by Fuzzy Logic Control) Global Competition Global competition is much like national competition and one of the biggest competitors is the neighborly PepsiCo. For Coca Cola, it is vital to watch the competition in its back yard. PepsiCo being from the same country is the biggest competitor. Import and export scenarios are much the same for both companies making production costs in competition, which in turn makes the price of each beverage competitive. The three primary issues TCCC can focus on to keep up with the competition globally are: (1) expansion in countries that are growing rapidly, (2) expansion on lower sugar beverages, and (3) expansion into noncarbonated beverages (Sivy, 2007). All three expansions will help maintain a competitive edge as well as diversify the company making Coca Cola stock more sustainable. The recommendation for Coca Cola is expansion. Analysis of Government Policy, Social Diversity, and Business Ethics on Expansion Government policies result in TCCC being proactive in meeting or exceeding rules and regulations, on a national and global plane. Expansion of operations demand TCCC follow local, state, federal and foreign government policies to ensure cohesion exists between the units to satisfy the objectives of each. The new market trends in the beverage industry indicate a shift to the health-conscious position, thus increasing the need for TCCC to expand into new markets. National and State government policies designed to rid the public school systems of high-calorie beverages create new challenges for carbonated beverage providers, thrusting TCCC to diversify its offerings to support a healthy lifestyle for children. Foreign governments have accused carbonated beverage makers of allowing harmful levels of pesticides in their carbonated offerings, thus increasing the need for higher standards of quality in to be placed into the product. Both challenges have a direct impact on expansion, but also provide for innovation in the carbonated beverage industry. Social diversity is an aspect of expansion directly affecting TCCC in a positive direction. Expansion of operations suggests global implications; meaning more opportunities for a diverse workforce. TCCC operating in a global arena demands the company use diverse workforces to improve its position in the marketplace. The company can both educate while also learning from individuals cultural backgrounds to propel TCCC to greater achievements in the beverage industry. Business ethics are an important feature of expansion. TCCC is committed to performing all business dealings with the highest morals and standards in the industry and is reflective of their Code of Business Conduct in daily operations. Business ethics encompasses a large and often complex set of guidelines to abide by. Expansion often suggests the mitigation of competition through mergers or corporate takeovers. TCCC has the responsibility, in such cases, to act with integrity to its adversary. Conclusion The market trends of the economy will cause changes for Coca Cola; however, the organization is very stable and will often lead the industry into new market trends. All variables will touch Coca Cola at some time but several that affect the organization on a regular basis are new companies, prices, new technology, variable costs, competitors, supply and demand, and globalization. Coca Cola has led the industry in innovation. Through expansion into new markets around the world, Coca Cola will continue to lead the industry. 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