The Role of Marketing

1. Markets bring together buyers and sellers of goods and services. In some cases, such as a local fruit stall, buyers and sellers meet physically. In other cases, such as the stock market, business can be transacted over the telephone, almost by remote control. We need not go into these details. Instead, we use a general definition of markets. 2. What the term market means A market is a shorthand expression for the process by which household’s decisions about consumption of alternative goods, firms’ decisions about what and how to produce, and workers’ decisions about how much and for whom to work are all reconciled by adjustment of pricesPrices of goods and of resources, such as labour, machinery and land, adjust to ensure that scarce resources are used to produce those goods and services that society demands. 4. Economics studies markets and prices Much of economics is devoted to the study of how markets and prices enable society to solve the problem of what, how, and for whom to produce. Suppose you buy a hamburger for your lunch. What does this have to do with markets and prices? You chose the cafà © because it was fast, convenient and cheap.Given your desire to eat, and your limited resources, the low hamburger price told you that this was a good way to satisfy your appetite. You probably prefer steak but that is more expensive. The price of steak is high enough to ensure that society answers the â€Å"for whom† question about lunchtime steaks in favour of someone else. 5. The seller’s viewpoint Now think about the seller’s viewpoint. The cafà © owner is in the business because, given the price of hamburger meat, the rent and the wages that must be paid, it is still possible to sell hamburgers at a profit.If rents were higher, it might be more profitable to sell hamburgers in a cheaper area or to switch to luxury lunches for rich executives on expense accounts. The student behind the counter is working there bec ause it is a suitable part-time job which pays a bit of money. If the wage were much lower it would hardly be worth working at all. Conversely, the job is unskilled and there are plenty of students looking for such work, so owners of cafes do not have to offer very high wages. 6. Prices guide your decisionPrices are guiding your decision to buy a hamburger, the owner’s decision to sell hamburgers, and the student’s decision to take the job. Society is allocating resources – meat, buildings, and labour – into hamburger production through the price system. If nobody liked hamburgers, the owner could not sell enough at a price that covered the cost of running the cafà © and society would devote no resources to hamburger production. People’s desire to eat hamburgers guides resources into hamburger production.However, if cattle contracted a disease, thereby reducing the economy’s ability to produce meat products, competition to purchase more sca rce supplies of beef would bid up the price of beef, hamburger producers would be forced to raise prices, and consumers would buy more cheese sandwiches for lunch. Adjustments in prices would encourage society to reallocate resources to reflect the increased scarcity of cattle. 7. We have adopted a general definition of markets There were several markets involved in your purchase of a hamburger. You and the cafà © owner were part of the market for lunches.The student behind the counter was part of the local labour market. The cafà © owner was part of the local wholesale meat market and the local market for rented buildings. These descriptions of markets are not very precise. Were you part of the market for lunches, the market for prepared food, or the market for sandwiches to which you would have turned if hamburgers had been more expensive? That is why we have adopted a very general definition of markets which emphasises that they are arrangements through which prices influence t he allocation of scarce resources.

Coco Chanel’s Influence on the Apparel Industry Essay

Coco Chanel’s influence in the fashion industry began over a century ago during the 1920’s. Chanel embraced the essence of the â€Å"Roaring Twenties† which was all about becoming â€Å"someone† and separating yourself from the old and beginning a new life. Chanel focused on the newly found needs and desires of women and designed her fashion around what women had wanted. Not only did Coco Chanel pave the way for modern fashion, she also created innovative ideas using fabrics that were traditionally used for menswear. These fabrics were incredibly durable which allowed Chanel to construct new designs with less fabric than what would have been traditionally used. One of the major fabrics that Chanel included in her lines again and again was wool jersey. This fabric is comfortable and easy fitting, but at that time, had not been considered suitable for fashionable clothing. This was an incredible influence that Chanel had in the fashion industry because she s howed the world that wool jersey’s can be used in fashionable clothing. Coco Chanel also had created a modern spin on embroidery for women’s clothing. Instead of using more fabric, such as lace, Chanel decided to decorate the clothing using beading and embroidery. Coco Chanel also frequently accessorized her clothing with multiple strands of pearls, quilted handbags, sling-back ivory pumps with black toes and of course, her combination of jewels with sportswear. All of these accessories are still used to accentuate Chanel’s clothing present day and have also set Coco Chanel’s clothing apart from the rest from the very start. Chanel also changed the way women’s clothing looked on women. Prior to the innovation of Coco Chanel, a women’s body was split into two halves—upper and lower. Chanel modified this and found continuity and symmetry throughout the entire torso. Chanel is also known for â€Å"letting go of the waistline† and created the style which we currently see in fashion. This in itself shows how Coco Chanel has changed the fashion industry forever. Chanel created the â€Å"flapper look†, which we all think of when we think of the Roaring Twenties. The â€Å"flapper look† was defined by its masculine influence, which incredibly popular throughout the 1920’s. Coco Chanel became an icon in the 1920’s, and every woman wanted to be just like her. Coco Chanel became very slender and long, which caused all of her clients to lose weight. This is how the â€Å"boyish frame† of women’s bodies became popular in the 1920’s. Coco Chanel also cut off all of her long hair to create a classic bob. This caused Coco Chanel to look even more boyish. All of her clients soon adopted the hairstyle themselves, which caused Chanel to also have been responsible for the popularity of the bobbed haircut of the 1920’s. Because Chanel paved the way in the physical appearance of women throughout the Roaring Twenties, Coco Chanel designed her dresses to be fitted for slimness and length, included with a dropped waistline. Chanel’s biggest influence in the fashion industry is how she drastically changed the length of skirts worn by women in the early 1920’s. Shortly after the introduction of shorter skirts, Chanel developed the ever so popular â€Å"little black dress†. This became an essential garment for every woman to own, in the past, and present day. The development and introduction of the little black dress into society had the most powerful impact than any other garment ever introduced. This gave women a go-to outfit for all times, whether it was for work, a dinner, or a more casual look. The Chanel style hasn’t changed since the designer began designing clothing. Currently, the Chanel style still holds the traditional and classic â€Å"French chic† with a menswear feel through texture and fabric. The innovative ideas of the late Coco Chanel has paved the way not only through modern fashion, but has also created what we now consider a â€Å"classic† look. This can be seen as true because the Chanel look is the perfect go-to and will never go out of style. The classic Chanel style has been in style for over 100 years, which shows how influential the designer was. Chanel’s style are still relevant today with women all over the world purchasing the â€Å"little black dress† and tweed suits, which Chanel made famous. Chanel impacted the apparel industry in the most powerful way  possible—she defined the classic look, which will never go out of style. This shows how Coco Chanel has not only influenced the world of fashion, but that she is one of the most influential people in the fashion industry. It has been well over a century since her introduction in the fashion industry, and her name still lives on—stronger than ever.

Israeli Wars from 1948 to Present Essay

The 1948 War of Independence, which took place between November 1947 and July 1949, was started by a 6 month civil war between Jewish and Arab militias at the end of the British mandate of Palestine. This turned into a regular war after the declaration of Independence and the intervention of several Arab armies. The five surrounding Arab nations i. e. Egypt, Iraq, Jordan, Syria and Lebanon with support from Saudi Arabia launched a coordinated attack on Israel from the land, sea and air. These countries were urged on by their leaders who assured them that they could return after all Jews had been driven out (Eisenberg 147). The Jews were, however, able to defeat Arab armies resulting in an armistice that was signed in 1949 signaling an end to the conflict. The Armistice agreements were signed between Israel, Egypt, Jordan, Lebanon and Syria. They established the armistice lines between Israel and the West Bank also known as the Green line. The Sinai War of 29th October 1956 involved a military attack on Egypt by Britain, France and Israel. Israeli troops invaded Egypt’s Sinai Peninsula and quickly overcame opposition as they raced for the Suez Canal. Britain and France offered to temporarily occupy the Canal Zone and suggested a 10 mile buffer on either side to separate Egyptian forces from the Israelis. Egyptian President Nasser objected and on 31st October 1956, Egypt was attacked by Britain and France. Consequently, the Soviet Union threatened to attack on Egypt’s behalf but it took the intervention of U. S. President Eisenhower to get them to agree to a ceasefire. The war itself lasted for only a week with invading forces withdrawn within a month. The Six Day War took place in June 1967. It was fought between June 5th and June 10th. The war was against Syria, Jordan and Egypt as Israel believed that it was only a matter of time before the three Arab states attacked her. After the 1956 crisis, the United Nations (UN) had established a military presence in the Middle East but in 1967, Egypt made it clear that the UN was unwanted in the region. Israel viewed this as a sign that Egypt was preparing to attack and rather than wait to be hit, they launched a hugely successful military campaign against its perceived enemies. Following the war, the territory held by Israel expanded significantly and it now included the West Bank, Sinai, the Golan Heights and Gaza. The War of Attrition was a limited war that was fought between Israel and Egypt from 1967 to 1970. This war was initiated by Egyptians as a way of recapturing the Sinai from the Israelis who had been in control of the territory since the Six Day War. The Egyptian President believed that Israel would be unable to endure the economic burden and casualties of war. To this end, he ordered calibrated attacks on Israel which would not provoke an all out Israeli war response. The hostilities ended when a ceasefire was signed between the countries in 1970 with frontiers remaining in the same place as when the war began. The Yom Kippur War of 1973 is so called as it began on the Day of Atonement (Yom Kippur), the holiest day of prayer and fasting in the Jewish calendar. This war is variously referred to as the October War. It started with a surprise Arab attack on Israel knowing that the military would be participating in religious celebrations. Israeli forces were initially overwhelmed but by October 8th, bolstered by reserves, they counter attacked in the Sinai. They managed to push back the Egyptian military. The United Nations organized a ceasefire on October 24th and in September 1975, Egypt and Israel signed an interim agreement. Still, there were no significant territorial changes. The First Lebanon War began on 6th June 1982 when Israeli forces invaded Southern Lebanon. The government launched military operations after an assassination attempt against Israel’s ambassador to the U. K. by a mercenary organization opposed to the PLO. Israel then attacked the PLO as well as Syrian and Muslim Lebanese forces before they occupied Southern Lebanon. The war ended after three years in 1985 when Israel stabilized in the safety strap lengthwise along the border. The Second Lebanon War was sparked when Hezbollah guerillas ambushed an Israeli patrol on the border on July 12 2006. Israel’s Prime Minister Ehud Olmert declared his intention to free the captives and remove Hezbollah from Southern Lebanon forever and thus began an ultimately inconclusive month long war. During the short conflict, Israel lost 119 soldiers and 43 civilians whilst Lebanese civilians bore the brunt of the war with more than 1000 killed. The UN Security Council unanimously approved UN Resolution 1701 on 11th August 2006 to end hostilities.

New Technologies and business Essay Example | Topics and Well Written Essays - 1250 words

New Technologies and business - Essay Example The age of globalization has led to economic reforms and the developing economies have opened the doors to foreign investments. Thus the markets in the merging economies have accepted foreign investments that have led to the transfer of new technologies as a result of the foreign direct investment by the developed economies. Due to the increase in investments by the foreign investors, the business identity of the local market has also been a point of consideration to the policymakers. The economic policies of the local governments have allowed subsidies and incentives in the form of reduced taxes and other allowances in order to encourage foreign investments to take place in the domestic markets. This has exposed the domestic markets to foreign competition in terms of technological advancements, quality and pricing. The multinational companies have set up their establishments in the emerging markets. Thus the legal construction of the boundaries of the sovereign states was crossed an d this led to the transfer of new technologies required to tap the opportunities of the emerging markets in the age of globalization. The new technologies brought about by the multinational companies in several states across the world have created a business identity for themselves in the worldwide markets. The multinational companies like the International Business Machine, Apple Inc, Microsoft, General Motors, Unilever Corporation, Morrison, etc. are from different industries that have brought new technologies in the worldwide markets. The research and development wings of these companies have developed the new technologies in accordance to the customized demand of the markets and this has helped them to develop a business identity for themselves. By introducing the new technologies that have fulfilled the market demands and satisfied the customers have helped them to enter the new markets and capture the market shares. The multi-national business houses that have brought about ne w technologies in the world wide markets have been able to increase their market capitalization. The new technologies have the businesses to manufacture and sell products to the customers which are of unexpectedly high quality and at the same time cost effective. The air of globalization and the transfer of new technologies across the legal boundaries of sovereign states have led to the development of a brand image and goodwill in the market. This is the mark of the business identity that has been achieved due to the process of globalization and increased consumerism. The advent and transfer of new technologies across the legal and geographical boundaries of states had an impact on the sovereignty of the states and its people. Due to the application of the new technologies in the host countries and the change in the quality, style and pricing of products and services, the taste and lifestyle of the people also changed. The states witnessed an increase in consumerism and the employme nt level in the states improved. The increase in the number of job opportunities in the economy of sovereign states led to the rise in income level. With more money in the hands of the population, the

Contracts Assignment Example | Topics and Well Written Essays - 500 words - 1

Contracts - Assignment Example Normally an author is familiar with the limited terms of publishing like paperback mass market edition, hardcover edition, and e-book kindle edition etc. But if a book hits the market and creates waves, there are many avenues for financial gains, which unless secured through the contract, the author may lose their benefit. Apart from the main right of getting royalty on the copies sold, there are many subsidiary rights. If the book is accepted for publication by old, reputed publishing houses, the author can enjoy a sense of security about his financial interests. I have gone through the article "A Contract Primer: Subsidiary Rights" at this website: (http://www.mindyklasky.com/index.php/for-writers/a-contract-primer-subsidiary-rights/) and find that most of the interests of the author have been listed out and protected through the agreement. When a dispute unfortunately occurs, it is all about interpretation in the context of the situation whether the publisher has violated the primary or secondary rights. Then there are practical problems with the author. A Publishing House generally has resources and the legal department to fight the cases. For an individual author, it is difficult to spare money and time for the legal exercise, unless the stakes are very high and the book has become extraordinarily popular. 1. Payments are made to the author at half yearly rests in most of the cases. 10% of the print value of the book is a small amount. This is the internet age. The amount payable to the author must be credited to his bank account or paid through any other payment methods like PayPal, instantly, when a copy is sold. The authors must get the payments on daily basis. It is worth noting that the booksellers ship the book when they get advance payment from the buyers through credit card. 3. When the book gets any awards, 50% of the same is retained by the publishers. This is an unfair labor practice. The authors must get

EU law Assignment Example | Topics and Well Written Essays - 2750 words

EU law - Assignment Example The researcher states that in European Union, the most important legislative instruments are regulations and directives. A regulation is a general rule that is obligating upon member nations in whole and is directly applicable to all member states. Obligating in whole connotes that the member states has no preference as to method and form. On the other hand, directives are general rule, but they are binding as to their result. For each member state, it is expected, a directive is obligating as to the outcome to be accomplished. As to the choice to method and form, the institutions of the member states can exercise their power. There is less clarity about their direct impact due to the wider policy freedom given to member states in transposing EU directives. Nonetheless, one should not underrate the impact of directives, and the national rules shall have to be construed in such a style that is most in harmony with the directive under reference. Because of its own breakdown to carry ou t the commitments which the directive requires, a Member Nation which has not espoused the enacting initiatives as demanded by the directive within the stipulated time may not bank upon it as against such persons. At the request of an individual who has adhered with the stipulations of a directive, may request a municipal court not to direct to implement a municipal rule which is contrary to the directive not implemented into the domestic official system of a contravening Member Nation. Further, it must sustain that demand if the commitment in issue is sufficiently precise and unconditional.2. S2 European Communities Act 1972 stipulates that â€Å"all such privileges, authorities, responsibilities, commitments and limitations ... arising by or created under the Treaties ... as in agreement with the Treaties are devoid of further ratification to be accorded official impact or employed in the UK, shall be ... imposed so ... â€Å" Further, any designated Minister, Her Majesty may by Order in Council, and or department may by rules, make provision ... for the purpose of implementing any Community commitment of the United Kingdom. Directives fall under secondary legislation of the source of EU law. A directive is a most significant legislative mechanism together with the EU regulation. Its main aim is to bring together the dual aims of both ensuring the needed consistency of Union law and honouring the diversity of national structures and customs. It is to be remembered that directive chiefly aims for the harmonization and not for the unification of the law. The rationale is to get rid of conflicts and contradictions between national regulations and laws or progressively to weep out contradictions, so that, a uniform stipulation exists in all the member nations. It is to be noted that a directive is obligatory on all the member nations as to the goal to be accomplished, but it assigns it to the national officials to fix it on how the consented community goal is to be implemented into their domestic legal structures. Especially, the member nations can take into the picture of unique domestic scenarios when implementing the community rules. What is important that an EU directive does not surpass the laws of member nations but puts a commitment on the member nations to fine -tune their national law in harmony with Community regulations? Hence, there will be two –phases of law- making practice prevail in EU3. Source - eur-lex.europa.eu †º EUR-Lex Home †º Help In UK, the â€Å"General Product Safety Regulations 2005 â€Å"is in force and these regulations are enacted in conformity with the â€Å"section 2(2) of the European Communities Act and transpose the Directive 2001/95/EC on general Product Safety† into UK law. The main aim of the General Product Safety Directive (GPSD) is to make sure that all goods aimed for or probable to be used by UK residents under realistically and normal predictable stipulations are safe. In case of mobile phones, the GPS Regulations will extend to those-aspects of safety in UK. The GPSD is applicable to

Morocco & Western Sahara Conflict Article Example | Topics and Well Written Essays - 1500 words

Morocco & Western Sahara Conflict - Article Example According to the article the Western Sahara Conflict has caused disarray to the trade agreement, which was modeled by Arab Maghreb region. Other global entities and Tunisian government are not being able to provide their standing but want to take initiatives to act a mediator. They are urging the Morocco government to take steps to establish Maghreb unity. They are also urged to respect the rights of Saharawi people. The impact of the conflicts is not only in the Maghreb region but the entire international community suffers as well. Hence, through globalizations the issue has gotten international attention and pressures are mounting on Morocco to resolve these issues and impose strict orders to maintain harmony in the region.From this paper it is clear that  Morocco has maintained itself as a close ally of United States. Despite its cooperation in fighting against terrorist activities the US officials are not taking initiatives in solving the human rights problems of Morocco, which have occurred due to Western Sahara Conflict. United States have eased restrictions on Morocco on arms sale and have increased bilateral alliance but have side lined the main issues of Morocco.  In the same way Morocco has maintained its relation with European Union and is the beneficiary of MEDA funds, which is the aid program of EU, but they do not comment on human rights violations in Morocco.  France is also one of the key leading trade partners of Morocco.

Qualitative & Quantitative Designs Essay Example | Topics and Well Written Essays - 500 words

Qualitative & Quantitative Designs - Essay Example Both research designs are suitable for establishing how lack of communication is increasingly becoming a business problem within non-profit organizations. However, each approach has inherent strengths and weaknesses that make them suitable or not to solve the business problem. Establishing the issue of miscommunication in non-profit organizations can be successful due to the strengths associated with the qualitative research design. Such a design gives insight and explores the significance of miscommunication as a business problem. For example, the article uses the grounded theory approach, which is a qualitative research design. It is evident that qualitative research design is holistic as it approaches the issue right from its stem to its effect on business performance. It involves interviewing and reviewing the records held by the non-profit organization. The results are supported by the data obtained from interviews and observations. However, the method is quite broad. It covers a wide area and even includes items that have not been affected by the business problem. It takes a lot of time to research the issue at hand because the researcher had to formulate, test, and establish propositions until the problem is established. On the other hand, the quantitative research design successfully establishes the problem and dissects is cause and effect relationship. In addition, the method allows relationships to be tested, hence it is objective. The method is time saving or reductionistic as it only test items that are affected. The aspects of business performance affected by miscommunication include high staff turnover and reduced corporate social responsibility functions. The method tests theories and employs statistical analysis of figures. However, the method is limited by the fact that it generalizes items in an attempt to establish the cause and effect relationship. It might not be

The amazing Agora Research Paper Example | Topics and Well Written Essays - 2000 words

The amazing Agora - Research Paper Example Surprisingly, Agora is not just one single object, it is basically a whole collection of total one hundred and six massive and bulky pieces of figures. They point from the south end of the Grant Park towards the south. Each mass of art weighs around eighteen hundred pounds and more than nine feet tall. Each of this piece is created so beautifully that they portray a complete natural look. They seem so real that the park district commissioner said that as you go more nearer to the sculptures it ultimately brings tears in your eyes. In addition, looking at each Agorian figure with keen observation, they are on the whole headless and armless creatures. They are made up of cast iron which a slight shine to them. They are designed in a way that they depict a walking movement of each individual from south to north. Agora is everlasting and enduring installation of the Grant Park. As a matter of fact, the popularity and attractiveness of the park is much because of the vital gift of Magdale na Abakanowics. No matter it’s the idea and design of the Polish artist Magdalena but at the same time she had an assistance of three more people. Each figure is same in shape but they are diverse in fine points and important details. The exteriors of the sculpture are pretty much analogous to tree bark or even somewhat like wrinkled face that is put across an unusual and diverse individualism of every statue. The creation of this ultimate beauty initiated in 2002 and took around two years for the completion. The design and formation of Agora were done in massive and enormous engineering foundry in the city of Poznan that it's situated in Poland. It was later on transported to the United States of America in October 2006. The artist made use of some common metals for the designing of sculptures like burlap and resin, but later she shifter in using some special and even more precious metals. These metals included bronze, iron and steel. Overall it cost more than three million U.S dollars. Obviously, it wasn’t possible for only a single person to pay such huge amount of money that is why contributions were made from the actor Robin Williams and Parkways foundation. They donated total amount of seven hundred thousand U.S dollars. Moreover, the remaining amount was contributed by the Polish Government and even the Polish foundation. Although in a few places, it has been stated that the government of the United States bought the sculptures of Agora to install them in the Grant Park. However its not true. Agora was a gift to the United States of America from the artist Magdalena Abakanowicz and the Polish Ministry of Culture (Pacyga, 401). But on the other hand the Grant park itself raised the amount of eight hundred thousand for the installation and maintenance cost of these remarkable pieces of art. This huge amount of money would not have been possible without the cooperation of Magdalena fans and the actor Robin Williams. Many people who visited th e Grant Park and saw these remarkable structures raised a question that what does Agora represents, what's the message or story behind it. Polish artist and the creator of Agora replied that it's basically a single body that embodies and becomes a symbol for a number of diverse meanings. Consequently, some historians and critics gave an even more appropriate

Agriculture's importance economic progress Essay

Agriculture's importance economic progress - Essay Example Agriculture which is predominantly the base of systems of economy in most of the under developed countries is the primary occupation of rural people in those countries. It is primary because it supplies basic necessities of human life, provides basic inputs for industries and, in addition to these, purveys goods for exports and other purposes. â€Å". . . the rise in agricultural production . . . makes important contributions to general economic development and that, within considerable limits at least, it is one of the preconditions which must be established before a take off into self sustained economic growth becomes possible† (Nicholls, 1970). Earlier development economists like Arthur Lewis (1954), Hirschman (1958) and Fei and Ranis (1961) have identified and analyzed how agriculture contributes to the overall economic growth of a country (Higgins, 1982). They highlighted that the ‘unlimited labor supply’ in the agricultural sector of an underdeveloped countr y can be transformed to industrial sector and the ability of agriculture to transfer its abundant resources to other sectors actually lead the economic growth of any country. Contribution of agriculture in an economy is judged by the value of the total quantity of output in the Net National Product (NNP). A ratio between the output of agricultural sector and the output of non-agricultural sector or the proportion of the former in the NNP furnishes reasonable evidence not only of the nature of economy but also its stage of development. Simon Kuznets (1961) observes that â€Å"an increase in the net output of the agriculture is, in and of itself, sum of the increases in the net products of the several sectors† (61). So long as the rate of growth of the non-agricultural sector is higher than that of the agricultural sector, the proportional contribution of agriculture in the total product will decline. His model for assessing the product contributions to the NNP quite explicit a nd it is delineated as follows: dP=A.a+O.o Where, A= Product of Agriculture; O = Product of all other sectors; P= Total Proudct =(A+O); a=rate of growth of A ; o=Rate of Growth of O; d= change. The increment in the total product is the aggregate of products of sectarian outputs as multiplied by their respective rates of growth. Role of Agriculture in Economic Development- Traditional approach The traditional and earlier approaches proposed by development economists like Lewis, Fie and Ranis highlighted the important roles of agriculture sector in the economic development of any country (Vogel, 1994). A fast track development of this sector is crucial for other sectors as well. Only a strong and efficient agricultural sector can feed the growing population of a country, provide employment, play vital role in the foreign trade and earning of foreign exchange and give a strong base to the industries. Because of these multifaceted functions of agriculture, it has got a multiplier effect on any country’s socio-economic and industrial scenario. Thus according to the traditional analysis the role of the agricultural sector is confined to the source of food, source of livelihood, role in foreign trade, capital/savings transfers and its role in industrial development (Stringer, 2001). Source of Lively hood Most of the developing countries depend on agriculture and allied activities for their livelihood. Agriculture provides immense employment opportunities to the masses and this assumes much significance when the growing working force does not come out of the yoke. The figure may be varied from 10 percent to 60 percent in the contemporary scenario generally prevailing in the developing and underdeveloped countries across the globe (Stringer, 2001). Importance in the context of food security The character and content of a country’s economic structure alongside the potential for its further growth and development are largely dependent not only upon the quan tity but also upon the type of its output generated and distributed in the economy (FAO, 2001). For example, an

Doubt by John Patrick Shanley Assignment Example | Topics and Well Written Essays - 500 words

Doubt by John Patrick Shanley - Assignment Example For this reason, she harshly declares that the priests is a pedophile and must leave the school immediately. Her doubt cannot be seen in a positive view as she has picked a very irreconcilable argument yet she has no evidence to show that Father Flynn is guilty. Based on her interaction with people, Sister Aloysius reveals to be a distrustful person especially to men and that is why she thinks that Father Flynn is guilty of pedophile. She is a very strict person who thinks that teachers who are not doubtful are naà ¯ve. When a boy nose-bleeds in class, she concludes that he induced the bleeding to get out of class. She shows how strict and doubtful she is when she makes such utterances as; â€Å"There is a chain of discipline. Make use of it.† (p.8), â€Å"Every easy choice today will have its consequence tomorrow.† (p.9), and â€Å"The best teachers do not perform, they cause the students to perform,† (p.11). When Sister James tells her that Father Flynn has always paid more attention to Donald Miller since he became an altar boy, she is certain that the Father has always had sexual interest in the boy or worse that the boy has already been violated by the priest. Despite all the barriers preventing Sister Aloysius from finding the answers she is seeking, she still pushes the argument of Father Flynn too far as she is torn between her personal emotions and her role as a school principal. She wants to straighten the wrong which she perceives the priest is creating in the school. However, she does take it too far in her pursuit for the truth. When she says: â€Å"In the pursuit of wrongdoing, one steps away from God. Of course, there’s a price.† I believe she stepped â€Å"away from God† by relying on her personal speculation to lie and contradict the same rules she is trying to safeguard. She feels immature and selfish at the end of the parable due to her blind rampage as she declares â€Å"I have doubts! I have such doubts!† (58).

Duchess of Malfi Essay Example for Free

Duchess of Malfi Essay The Duchess of Malfi written by John Webster was first performed around 1613. A dramatic tragedy, the play is about a forbidden marriage between the Duchess and Antonio her steward, and the wrath of her brothers which leads to many of their deaths. Webster focuses on the role of rank to detail the emotions between relationships in an aristocratic family in a time when class was all important. He uses many distinctive features to convey the substance of the play and its characters, and give the actors playing the roles cues for stage performance. This extract is part of the proposal and marriage scene, one of the biggest emotional dramatic scenes of the play. The duchess is marrying in secret against her brothers wishes; their fear is that she will demean the family’s honour by remarrying. It also forms the most positive aspect of the play, using one of the traditional stage conventions of love, defiance and disapproval (Pacheco and Johnson (2012) pg. 93). This serves to provide a ‘lift’ to an otherwise dark play, and compares the lighter side of the Duchess’ sexual desire to her brother Ferdinand’s. The extract is set at the second half of Act 1 scene 1, the first half being to set the backdrop for the audience and give them a good idea of each character and a good indication of things to come. Specifically, the extract is between the Duchess finding out how Antonio feels about marriage and their union itself; here, the Duchess is convincing Antonio that he is worthy of her, that she is woman enough despite her brothers, her rank and her status as a widow. This is achieved by the features of Webster’s distinctive language and the stage directions (both written and performed through reading). The Duchess uses double meaning in her dialogue, ‘So now the grounds broke/ you may discover what a wealthy mine/ I make you lord of.’ (Webster, (2010[1623]) 1.1.432-33). She is referring to her own wealth and the value of his rank when they marry. This wordplay is also in the line ‘we are forced to woo because none dare woo us:’ (Webster, (2010[1623]) 1.1.446) she is again referring to her rank and playing on the word ‘woo’ to mean ‘woe’ (and the irony being that she is wooing him). These are very persuasive lines for Antonio, who feels unworthy of the Duchess despite the traditional gender roles being swapped, and the dominance of the Duchess being prevalent. He realises this with the line ‘These words should be mine,’ (Webster, (2010[1623]) 1.1.476). There is also wordplay in ‘All discord, without this circumference, / Is only to be pitied and not feared.’ (Webster, (2010[1623]) 1.1.473). The Duchess is referring to the situation they are in (secret wedding and/or the room), the wedding ring she has given him and to the confinement her brothers wish for her. There could also be reference to how Antonio will be should they marry – a higher rank, but it will be a secret for some time. The duchess is trying to assuage the fear of it all by saying without it there is only pity (for her). The metre and rhythm of the speech in this extract is another distinctive feature. It is un-rhyming blank verse and follows the rules of iambic pentameter except where Webster wants a character to pause, for example, ‘You were ill to sell yourself’ (Webster, (2010[1623]) 1.1.435) is only three feet of the full five feet line, leaving two for pause before the next line. This puts impact on that line but also on the ones following it. This technique is also echoed in the ‘woo’ line (Webster, (2010[1623]) 1.1.446); the metre of the line is slightly too long, which shows the Duchess’ unwillingness to follow orders. Likewise, the line ‘You have left me heartless, mine is in your bosom’ (Webster, (2010[1623]) 1.1.453) is too long, giving emphasis on the line and a cue for the actress playing the Duchess to use it for stage direction. The Duchess and Antonio’s dialogue overlaps through most of this extract; it makes them sound as if they are thinking together – giving the audience a feel for the emotional charge between the two characters. We have already seen from earlier in scene 1 that the Duchess is clearly defiant of her brothers, so it is little surprise to see that in response to Antonio’s fear of them she shrugs them off with the line ‘Do not think of them.’ (Webster, (2010[1623]) 1.1.472). this confirms the audiences view of her as being strong and resilient but also somewhat naive, and also gives them a clue of what is to come, especially when she follows with the lines ‘Yet, should they know it, time will easily/ scatter the tempest.’ (Webster, (2010 [1623]) 1.1.476). This dramatic irony confirms what the audience knows but Antonio does not: that her brothers are unaware of their impending marriage. Indeed, with these lines Webster is inviting the audience to fear the brother’s reaction too after hearing their earlier death threat to the Duchess. (Webster, (2010[1623]) 1.1.298-344) The depth of each character and difference of rank is shown in this extract by Webster’s use of figurative language. The Duchess continuously shows her determination and sprit, something which continues throughout the play – even to her death. And poor Antonio, who despite being honest and loyal, is overwhelmed at the turn of events and the metaphoric swapping of gender roles to the point where he is seeking solace in the Duchess’s words and is happy to be deluded ‘Would not have savoured flattery’ (Webster, (2010[1623]) 1.1.478). He is painfully aware that he is not equal in rank but will be in marriage, and his fears exaggerate her strength ‘These words should be mine,/ And all of the parts you have spoke, if some part of it/ Would not have savoured flattery.’ (Webster, (2010[1623]) 1.1.476-8) As for performance, the extract only provides one written key stage direction ‘(she kisses him)’ (Webster, (2010[1623]) 1.1.468). However, there is plenty in the reading of the extract to relate to performance. This also leaves room for interpretation in relation to performance possibilities. The pace of the dialogue changes depending on which character is speaking, for example, lines 445-462 are full of short syllables which quicken the rhythm of the metre to make it energetic and erratic, ‘And fearfully equivocates,’ (Webster, (2010[1623]) 1.1.448). It could serve to make the Duchess sound tense yet determined, and she could be sort of ranting in her attempts to convince Antonio. These lines also provide many words that can be used as stage direction, for example while she is speaking between lines 445 and 451 she could be pacing the stage and using her hands to emphasise her point ‘The misery of Thing it is not’ (Webster, (2010[1623]) 1.1.445-52). Also in ‘Go, go brag,’ (Webster, (2010[1623]) 1.1.452), she could point off stage as if inviting him to leave, either in an angry or defeated way. After, in ‘You have left me heartless’ (Webster, (2010[1623]) 1.1.453), her hands could go to her heart, and then onto his with ‘mine is in your bosom’ and leave them there for ‘you do tremble (Webster, (2010[1623]) 1.1.453-54). She could shake him at ‘awake, awake, man,’ (Webster, (2010[1623]) 1.1.459). The pace slows down again after Antonio has promised to protect her reputation; the syllables become longer and more even and written commas slow the dialogue to make it measured. This follows to the end of the extract so we can see that the Duchess is calmer and happy now that Antonio has accepted her proposal. This should reflect in the way that the person playing the Duchess should perform, especially when she is shrugging off the fear of her brothers, as it is almost nonchalant. The stage set up should have enough room for there to be complete focus on the characters and no superfluous scenery – perhaps only what is required to make it obvious what the room is, plus the table and chair for Antonio and the curtains for Cariola to hide behind. If the Duchess is pacing the stage while she rants there should be adequate room for this, and Antonio could follow behind her. Indeed, if he is seeking solace in her words, the actor may wish to appear meek (and therefore filling the gender and rank role) by following her blindly but also allowing her to turn to place her hands on him where necessary. In all, we can see how the distinctive features of Webster’s language have brought the play into being. The use of dramatic irony, metre and rhythm, imagery and figurative language to convey emotion, bring scenes to life and help the audiences perception. Webster also especially does this in his use of figurative language to create stage directions for the cast, which in turn helps them to set and convey the scene. With the play only having little written stage directions, Webster leaves the play open for the actor’s interpretation, and its possibilities onstage.

House of Power Westminster

House of Power Westminster Parliament at Westminster remains the most powerful institution in UK politics.’ To  what extent do you consider this to be true? This essay I am going to defend that Westminster is not the most powerful institution and in fact, its dependant on the composition of the house of Commons for it is just an instrument to enact the wish of the political party in power. In this essay I am going to relate Westminster having the main role when controlling institution as a way to determine real power. In the first part of the essay I will establish relationship between the Executive powers, and how the structure of the secondary election of the Prime minister affects the power of Westminster. In the second part of the essay I will discuss the transposition of the European Union (EU) laws and how this reduces the reach of the legislative power in the United Kingdom legislative power in certain matters. Legislative power is defined as the ability, skill, capability or authorization to carry out a specific legislative action,. Note that the uncodified constitutional configuration allows high regulation capacity because Westminster law become Constitutional Law. This kind of constitutional order permits an evolution in the same time of social thinking evolution, and adapt the social changes, such as changes from censatarian masculine suffrage (1831), and ultimately to universal suffrage(1970), or if the most recent devolution of powers to the nations inside the UK at the ends of 1997-98, all this crucial changes by the willingness Westminster. UK constitutional practice is the product of an historical experience with laws, customs and conventions being added to and subtracted from it over time as circumstances dictate (Politics and power in the UK, 2005, p.19) In addition it has also the ability, to reverse the changes and return to the absolute realm structure, although hardly on the political culture of citizenship possible, if It has the society will. This complete freedom to regulate could be the only point that could lead us to the conclusion of the supremacy of the legislative power. While the capabilities or the legitimation of the legislative power are vested in Westminster, this is who lays down rules as an institution, is not who has the power. It is the instrument of the law enactment. UK’s unified parliamentary government facilitates the fusion of the executive (the government) and the legislature (parliament).UK politics are primarily conducted between the executive and the legislative branches,[], the UK model of democracy facilitates executive dominance over the legislature (but provided the executive has a parliamentary majority)(Politics and power in the UK, 2005, p. 15) The electoral system is the first point to considerate, is how the Westminster it is compose, the electoral system is characteristic of Majoritarian Democratic System, Single Member Plurality System (SMPS). This system brings an over representative of the big parties, and event in theory brings a territorial representationally, in our days of a mass media politics it just make easier to concentrate in one party all the electoral power. The actual Executive power it is a coalition of Two political parties, that situation it is an exceptional, the UK’s fi rst peacetime coalition government since 1931 is a considerable departure from the UK norm (Politics and power in the UK, 2005, p.33),situation occurred just 3 times the last century. Normally Labour party or the Conservative party won at least 326 SMP, number enough elected members to elect the leader of the political party as the Prime Minister. To prove the over representably we just need to see the last election, especially between labour party with 29% of votes have 258 SMP and Liberal Party with only 23%, only 6 points less, 57 SMP. And moreover Liberal party has lost 5 SMP even they wont 1% more votes (BBC Electoral results). In the UK politics the election of the executive power it is make through the secondary election, elected by the elected members of the house of Common, and elect the head of the majoritarian party, or the majoritarian coalition, the Prime Minister. That circumstance make that the theory of separation of power (The Spirit of the Laws ,Montesquieu 1748) that define liberals democracies have become weaker. It has became weaker because the theoretical check and balance it becomes an illusion in the political life. The UK executive is empowered as a powerful government, even when it takes the unusual form of a two party coalition, thanks to the disproportional of the single member plurality system and the three party plus others system it now encourages. This executive, armed with a Commons majority, is therefore able, with parliamentary permission, to alter the constitution as it chooses and in ways electors tolerate.(Politics and power in the UK, 2005,p.36) The legislative power when there are a majoritarian party, with more than 326 SMP, have the Executive, and both follows the same agenda, or more exactly Westminster follow the directives of Whitehall and his agenda. And that party have two of the three powers the political party become the most powerful institution in United Kingdom. Moreover if we considerate the policy of the stick and carrot (Politics and power in the UK, 2005, p.26), punishing dissidence members through the party or reward him/her with honours and government jobs. The Executive control of elected members of his party and the fact of the Prime Minister is his political Party leader too, then he have two ways to influence and force the loyalty of his partners. But, as I said, the party its the most powerful power, and sometimes its the political party in govern who force the executive, or the prime minister, to do some decision. For example we can see the govern of Tony Blair. He join the country in the Iraqs War, this situation with the time made loses to Labour party most of his electoral support, this fact force to resign the Prime Minister in favour of Gordon Brown in the summer of 2007, after bad results on local elections of 4th of May.(BBC T. Blair Time line) This replacement was the way to change the strategy and the perceptions of the electorate of the Labour Party, and recover the confidence lost during the last years of Blairs Government and the Iraqs war. Also Gordon Brown PM has to manage the international Crisis, and in the election of 2010 Labour party lost the majority in Westminster. From another point of view of Westminster action is the result of the previous relation between the political parties, fact that easily we can see when there are an executives in coalition of political parties, as Whitehall have now with the Conservatives and Liberal parties in power, this coalition forge a defined political agenda before the election of David Cameron, and this agenda with the support of the parties is passing through it of the parliament. This circumstance exemplify more the role of validate the previous agrees of the political parties. As I said before Westminster is theoretically entitled to regulate freely. But from the UK integration to the European Economic Community in 1973, which was later constituted as the European Union that. EU as a multi-state structure regulates certain matters of regulations (Politics and power in the UK, 2005 , p.68-69), in the case of second-rank ordering directly applicable to United Kingdom law, as based on the legal basis of the development of a treaty approved and ratified by the parliament itself. The European Communities Act 1972 (ECA) allows EC specified instruments to become part of UK law without the need for separate enactment of each and every EC instrument. Section 2(1) of the ECA gives the statutory authority for Treaty provisions and directly applicable secondary legislation (e.g. regulations) automatically to have legal effect in UK domestic law without further enactment .(p. 89 Comparative Study on transposition of Ec Law, June 2007) Despite this habilitation by way of treaties is in practice a normative power loss, an alien subjugation on regulatory and legal system, and in consequence broke the theory freely of Westminster generated by the uncodificate constitution. The negotiation the regulations depending upon the matter is carried to treat the ministers, depending on their portfolio at the European Council of Ministers meetings. Or the importance of the subject by the own prime minister to European Councils. Furthermore, together with the agreements and later to assessments among ministries, and also departments transpose the European legislation generated by the European institutions, which rests in the hands of ministers or cabinet, except in cases of assuming of obligations in cases affecting rights previously acquired by the public or the state, in this case the rule will require a complement of Westminster United Kingdom the vast majority of EC legislation is enacted by Statutory Instrument under Section 2(2) of the European Communities Act 1972. This Section confers authority on ministers, Government departments or Her Majesty in Council to make, with certain exceptions, subordinate legislation for the purpose of implementing any Community obligation of the United Kingdom. Subordinate legislation made under this section can repeal or amend existing legislation if this is incompatible with EC law.(p. 11 Comparative Study on transposition of Ec Law, June 2007) Given that treaties with was Lisbon Treaty (2007), or even was the Maastricht Treaty (1992) form United kingdom de facto is constitutional encoded country, and a country that explores the progressive tendency of continental integration and harmonization. In conclusion Westminster have no limitations to legislate whatever thinks the society need, but how works the relation between legislative and executive make that the legislative production follows the directives of Prime Minister and the executive. This situations are accentuate by the concentration of power of majoritarian democratic system, because the representation is concentrate by SSMP as a way to become over-represented the Conservative Party and Labour Party, and this political parties control executive and legislative branches. Since 1973, and progressively more, the EU have increased the power and control over the states, specially in matter of agriculture and economics, but since the Lisbon Treaty and the failed European Constitution, the tendency is harmonization of all states in the union. For another hand, UE is the union of states, and the legislation is make by executives, and transposed by executives, reducing also the power of Legislative Power. With the arguments submitted can be concluded that the theoretical power of Westminster significantly lower than really have, even have capacity havent iniciatve. . Bibliography BATTA, D.(2007) COMPARATIVE STUDY ON THE TRANSPOSITION OF EC LAW IN THE MEMBER STATES,EU Policy Department Citizens Rights and Constitutional Affairs,June(2007) BBC(2010)BBC News, [online] Available at: http://news.bbc.co.uk/1/hi/uk_politics/6625869.stm [Accessed 13th may 2014]. BBC(2010)Electoral Results, [online] Available at: http://news.bbc.co.uk/1/shared/election2010/results/ [Accessed 13th may 2014]. Hefferman, R. and Guibernau, M.(2005)Politics and Power in the UK, 3rd ed, Edinburgh: Edinburgh University Press, Montesquieu, C.(n.d.)The Spirit of the Laws, France: n.d. 1/6

Analysis Of The Advantages And Disadvantages Of Exporting Marketing Essay

Analysis Of The Advantages And Disadvantages Of Exporting Marketing Essay The ability of a firm to export a proportion of its sales abroad is increasingly regarded as a an important competitive measure of performance at national and as well as regional level (OFarrell et al, 1996).There ability to engage in exporting is purported to be necessary ingredient to ensure the survival and growth of new and small firms. Exporting is usually used as an entry strategy for most firms venturing abroad for the first time. It is the entry strategy most favored by small and medium enterprises (SMEs). Many Companies begin their international ventures by exporting mainly because all things being equal, it is the least risky and easiest to recover from in case of things not working out as planned. It is very flexible as compared to other strategies as the exporter can both enter and exit from the market very easily. Some companies internationalize for different reasons, they are either reactive or proactive to the market i.e. firms may react to rivals action to go international and follow suit or perhaps anticipate its competitions move by being the first mover and achieving the first mover advantage. However, there are quite a number of things that a firm should put in to consideration when exporting for the first time internationally. To ensure export, a firm should not overlook the following: Assessment of the global market opportunities: Before exporting goods or services, there are a number of questions a firm must put into consideration. The firm must analyze what kind of business it wants to get into, the products in question and the target market as whether it will accept the products or services being exported. The management of the firm should do a research before selecting the target market. The target market should be attractive and all other aspect like transportation, customs regulations and applicable tariffs and duties. Similarly, of at most importance is the culture of the country which must be evaluated in order to understand the implications to business opportunities and challenges. There must be a great understanding of customer needs and preferences, the competitors, the government regulations and the capabilities of the foreign intermediaries. The economic stability of the country is also an important aspect to the exporter. Organizing for exporting: For an organization to successfully export its products or services, it must learn how to transport its goods internationally, learn all the necessary procedures required at customs offices and all the necessary documentations. The organizations must adhere to all the requirements of the country it is exporting its goods to, failure to which can attract charges and penalties. Acquiring of needed skills and competencies: Hill (2007) is of the view that one way for the first time exporters is to identify the opportunities associated with exporting and to avoid many of the associated pitfalls is to hire an export management company (EMC) who act as the export marketing department or international department for their clients firms. It is important for organizations to acquire the right competencies and skills in order for the organization to survive in the market. The organizations must learn what is required of them to succeed in those markets before moving on to other markets. The more knowledge the organization acquires about the exporting strategies, the more competencies and right skills it gains and a clear picture. Different Export Strategies Available To a Firm There are two major strategies that an organization needs to consider in terms of exporting into another country. Under these two major strategies; The first strategy is called an Autonomous Strategy or sometimes referred to as the go it alone. This strategy involves the organization choosing to go into another country alone. The Foreign Direct Investment (FDI) is one method that can be used. Foreign Direct Investments (FDI) is the strategy mainly preferred by Multinational National Enterprise and it is an equity or ownership form of foreign market entry in to other countries and the presence is especially critical in performing some activities in the market. This type of strategy is usually by big firms such as Toyota, Nokia etc which have massive FDI based operations around the world. Another strategy is called the collaboration strategy which is concerned with the firm creating an ally with partners either up or down or the same level of the value chain, for example, licensing and franchising. Franchising is a means of marketing goods and services in which the franchiser grants the legal right to use branding, trademarks, products and the method of operation is transferred to a third party the franchisee in return for a franchise fee. Doole and Lowe (2001) International strategic alliances-This involves an exporting firm going into strategic alliances with local firms in the targeted countries. This strategy is categorized into three forms. Non equity strategy alliance that is formed through the contractual agreement to supply, produce or distribute the firms goods or services with equity sharing. This may concern marketing and information sharing e.g. licensing and franchising. An equity strategic alliance is the strategy in which partners own different percentages of equity in a new venture or project or an existing firm. Joint Ventures where two or more firms create a separate co-operation whose stock is shared by partners.Cateora and Graham(2002) define a joint venture as partnership between two or more participating companies that join forces to create a separate legal entity. Joint Ventures are in essence a way of risks of expanding internationally. Acquisition is where an organization develops its resources and competencies by taking over another organisationJohnson and Scholes (2002 p.375).An acquisition can be instantaneous and sometimes less expensive approach to market entry.Keegan and Schlegelmilch (2001). Other strategies that a firm can use are: The use of the Internet by setting up a website to advertise its products and or services to the world. This method has not only become popular due to the cost efficiency but also because of the instant huge volumes it reaches. The internet provides the means to export some types of services, ranging from airline tickets to architectural services. Other facilities on this method include online advertising and catalogues where goods can be, selected, ordered and paid for remotely. This method however may apply to both autonomous and collaborative strategies. Thus, the different types of international strategies represent different degrees of resources, commitments and risks. There are a number of questions managers must put into consideration before selecting an entry strategy in to a new market or country. The questions that need to be considered are such as what are the goals and objectives of the firm, does the firm have enough resources and capabilities to survive in the market especially in a foreign country where the firm may find stiff competition. It is also very important that the firm does its home work and understands its competitors in the market, unique conditions in the targeted country, balancing risk and return, competencies of the firm and characteristics of the product or services that the firm whishes to export. The firm can also decide whether they want to use direct export or indirect exporting. Direct Exporting is the strategy that a firm can use to sale directly to the customers in foreign countries by opening an export sales department which can create opportunities for the firm to establish a closer relationship with the foreign market and the end buyers. The firm can decide to use an export manager who will be charge of its direct export sales overseas to some countries where you can sale directly to the end user. This is common in the Middle East, Central America and in some Asian Countries. Firms wishing to pursue a long term position in a foreign market need to be more proactive in their approach to the market entry by becoming direct involved. Other direct export options are the use of export intermediaries. Indirect Exporting is the other strategy that can be used by firms to export it products and or services. Indirect exporting may seem to be the better option to other businesses through using intermediaries may be a better alternative looking at the complex tasks and risks involved in direct exporting. In this strategy, the firm can decide to use the domestic Intermediaries that can perform market research and develop a marketing strategy on behalf of the firm. Advantages of Exporting: The following are the advantages of exporting as an international entry strategy for a new firm; Increased sales volume resulting in improved market share as well the generation of profit margins that are often more favorable than the domestic market, Increased economies of scale through the reduction of unit cost of manufacturing as the sales volumes rise A diversified customer base thus reducing dependence on home markets. Minimized risk and maximized flexibility compared to other entry strategies as the firm can easily and quickly withdraw from an export market. Lower cost of foreign market entry as the firm does not have to invest in the target market or maintain physical presence especially through the use of agencies or franchises. The firm can therefore test the new market before committing greater resources through foreign direct investment. It helps stabilize fluctuations in sales associated with economic cycles or seasonality of demand e.g. a firm can offset declining demand at home. In a nutshell the low cost , low risk nature of exporting, combined with the ability to leverage on foreign partners makes exporting suitable to a new firm in the international business fraternity. Disadvantages of Exporting: Because exporting does not require the presence of the firm in the country it is exporting its goods or services, the firm usually does not meet with its customers as a result it does not get to learn about the interests of its clients, the competitors and the market. It does not allow the firm to benefit from the location advantages of the host national. The exporting firm has limited opportunities to gain knowledge of local markets and competitors as it does not dwell in the target markets countries, hence posing a business risk. There is serious exchange risks involved as the firm deals in foreign currency due to fluctuations in exchange rates. Without proper hedging, the organization may encounter significant exchange losses depending on the economic situation of the target foreign market and apart from losses, exchange rates may cause the exporters goods being expensive in the target market and therefore lose market share in the host national. The exporting organization is exposed to trade barriers such as import duties/tariffs depending on the area of the host national whom it trades with. The existence of certain regional groupings may affect the exporting firm positively or negatively especially if the firm is from outside the region. Exporting usually involves transporting goods for production companies involved in goods marketing and distribution. This may be a constraint in the smooth distribution and realization of business objectives of economic growth and profit generation. This may also depend on the location of the target market and the socio-economic situation in the host nations as well as infrastructural development. The fact that the exporting firm does not dwell in the host country may result in limitations on the ability to respond quickly to customer demands as there may be no one from the firm on the ground to respond on time. Exporting may create dependence on export intermediaries and therefore may not have the grip. Another disadvantage of exporting is the high transportation costs that can make exporting uneconomical especially if the organization is exporting huge or bulk products. Conclusion: It can be concluded that a critical facilitator of internationalization of markets depends on three components as market drivers that is the presence of similar customer needs and tastes, the presence of global customers e.g. the growing trend in car components companies being internationalized as their customers become internationalized. In accordance to Yip (2003) costs may be reduced by operating internationally through increasing volumes beyond what a national market may support and therefore can give rise to economies of scale both on the production as well as on the purchasing side. Scale economies are particularly important in industries with high product development costs. It also noted that internationalization is promoted were it is possible to take advantage of country specific differences. Other drivers may be due to policy including tariff barriers, subsidies to local firms and license to trade. Therefore among the methods of internationalization, exporting has proved to be more popular in certain types of business operations and largely depends on what stage a particular firm is in the process of internationalization. Mostly this method is used by firms in the initial stages of internationalization especially by small and medium sized enterprises (SMEs) and strategy becomes less popular as firms grow in size. The two main strategies firms use to export is firstly by collaboration , where a firm goes into partnerships with other firms either locally or abroad to complete value chains in the business through joint ventures, licensing, franchising and other strategic alliances. The second strategy is the go it alone or autonomous strategy were a firm going into export through the establishment of its own infrastructure in the target market such as a distribution office, its own employees. Therefore this strategy involves the foreign direct investment (FDI) with a view to establishing a long term commitment in the foreign market involved. However, it is less popular especially for firms going on the international market for the first time. Through analysis of the export strategy, the method has got a lot of disadvantages despite having a lot of advantages and therefore the choice of using for internationalization will depend on various factors such as being an entry strategy, or depending on the economic conditions of a particular region, take advantage of market conditions prevailing at a particular time. This is after taking into account the various factors or drivers such as costs, competition, market condition and local and host government policies.

Pearl Harbor: Accidental or Political :: essays research papers

Sunday morning, December 7, 1941, Japanese bombers, fighter planes, and torpedo planes attacked the American naval base at Pearl Harbor. This sneak attack plunged the United States into World War II. The first wave, consisting of 183 planes, arrived at approximately 7:50AM. They had taken off from aircraft carriers about 200 miles to the northwest, a fleet commanded by Vice Admiral Chuichi Nagumo (Thomas 3). The Japanese goal was to destroy the ships on Battleship Row and the airplanes on the ground at the Naval Air Station, Wheeler, and Hickam Airfields. Because it was a Sunday morning, most of the 780 antiaircraft guns were not manned. Many military personnel were on shore for the weekend and hundreds of others were still asleep on their ships. Did the U.S. Government know about the attack beforehand? Why were the warning signs not more deeply investigated? The Naval Air Station, Wheeler, and Hickam Airfields were the first to be hit by the Japanese to ensure the US had no ability to fight back. 212 of the fleets grounded airplanes were hit, and the 53 that were able to take off were shot down in the attack. The U.S.S. Oklahoma, West Virginia, Arizona, California, and Nevada were five of the 19 sunken or damaged U.S. ships. In the midst of the attack, 2,403 American military personnel were killed; including the 1,177 forever entombed in the Arizona. Another 1,178 were wounded. The U.S. did not inflict much damage to the Japanese during the attack. The Japanese only lost one midget submarine and 29 planes; 20 were kamikaze missions, 2 were mechanical malfunctions, and only 7 were shot down. December 8, the president of the United States, Franklin D. Roosevelt, addressed Congress and the American people. "Yesterday, December 7, a date which will live in infamy-the United States of America was suddenly and deliberately attacked by the naval and air forces of the Empire of Japan†¦" Congress declared war on Japan, and the US was dragged into World War II (Thomas 5). The warning signs of the attack were there, but weren't investigated. The 3 major warning signs that the Japanese were going to attack were the "East Wind Rain" message, the unidentified submarine, and the radar signals. On the morning of Dec 4, 1941 Naval Officer Ralph T. Briggs was on watch at the Cheltenham, MD, intercept station, when he received the startling and unexpected "East Wind Rain" message.

Cost Accounting: Its role and ethical considerations Essay -- Business

Cost Accounting: Its role and ethical considerations Introduction: Accounting is the process of identifying, measuring, and communicating economic information about an entity for the purpose of making decisions and informed judgements. The major areas of within the accounting are: Financial Accounting, Managerial Accounting/Cost Accounting and Auditing- Public Accounting Managerial accounting is concerned with the use of economic and financial information to plan and control the activities of an entity and to support the management in planning and decision-making process. Cost accounting is the subset of managerial accounting and it helps management in determination and accumulation of product, process or service cost. Role of Cost Accounting: Increased competition and uncertain business conditions have put significant pressure on corporate management to make informed business decisions and maximize their company?s financial performance. In response to this pressure, a range of management accounting tools and techniques has emerged. One of the most important tools that a management can use is - Cost Accounting. Cost accounting helps management in making strategic decisions by identifying an organization?s comparative strengths and weaknesses and a better ways to use, improve or eliminate them. Cost information is used for many different purposes:  · Performance measurement;  · Cost reduction and control;  · Determination of reimbursement and fee or price setting;  · Program authorization, modification, and discontinuation decisions; and  · Decisions to contract out work or make other changes in the methods of production or delivery of services. Cost accounting provides various tools for example: Cost-benefit analysis, break-even analysis, and CVP to help management in making decisions. Role of Ethics in Cost Accounting Webster's Dictionary defines ethics as "...the principles of conduct governing an individual or a profession: the discipline dealing with what is good or bad or right and wrong, or with moral duty and obligation; a particular theory or system of moral values". Ethics are very important in any field. In cost accounting also ethics play an important role. Ethical situations can easily arise in any business setting when money is involved. . The whole Enron saga was the result ... ...g is an important tool that can help management in making informed decision. Though it is not legally required but still it is necessary to run an entity effectively. Cost accounting is turned toward the future. There are different methods of costing in Cost Accounting: Absorption costing and Variable costing. Both have some merits over the other. An entity can use both of them for different uses. Absorption costing can be used for external reporting, managers need to review the effect of their decision on financial reporting to outsiders whereas Variable costing can be used by managers to review the effect of management decisions on production, costs and profits. References: Absorption, Variable, and Throughput Costing. Retrieved on December15, 2004 from http://www.kellogg.nwu.edu/faculty/balachan/htm/Acct439/Solutions/solution_manual19.doc Hilton, Ronald W: Cost Management: Strategies for Business Decisions, Second Edition: Marshall: Accounting, What the Numbers Mean, Sixth Edition: 3-8 Turner, Robert M: Ethics and professionalism: the CPA in industry, April1990. Retrieved on December15, 2004 from http://www.nysscpa.org/cpajournal/old/08416230.htm

Cox container case Essay

Problem Identification: There are quite a good number of problems in the case of CCC, among of which one can define, are the following: 1- Job security for the ethnic minorities who run the workshop for years, while being empowered in the age of Harold Cox, they felt threatened by the introduction of the new management system, that was reflected by the defensive attitude of Aziz and his lack of cooperation which also can be the reaction of being marginalized by Wilson while conducting the company review. 2- Lack of managerial training, which was reflected on how Aziz perceives his job as a shop floor manager whose first and utmost concern, is to deliver production no matter what the outside environment is. 3- Market introduction of new competitors, which dictates the need of full review of the operations, budgeting, supply chain and labor competency. Hence introducing more bureaucracy to the current system and might limit the power of Aziz and his team. 4- The centralization and individuality of Harold Cox in running the company helped the creation of a divisionalized structure and culture as well as developing a high degree of autonomy in the production department and a shallow hierarchy especially in the financial and management accounting area. Analysis: The main reason why Cox asked Wilson to conduct a company review is to get the company moving forward, such an act could have been shared with department managers, despite Wilson’s conclusions, strategies must be compromises that allow the company to move forward (Johnson, 1992). Johnson also argued that Strategic drift takes many years to affect performance, which validates the happening of the falling results of CCC, such a performance made Cox ask Wilson to conduct the review. The resistance to change that Aziz showed can be explained via the framework of Herzberg (1987) at which he argued that job security, as part of the hygiene factors can be a source of job satisfaction and motivation. Despite belittling the effect of hygiene factors on the subject, he did not address such an issue â€Å"job security† on a minority member. Such a factor can be more important than others whether intrinsic or extrinsic since minority members would possess the feeling of fear of losing their jobs and being expelled by the society and not finding another job. Adding the job status of Aziz would add further complexities to the situation as well. The introduction of budgeting and operation optimization without consulting the shop floor manager while he represents the core business of the company could have affected his motivation. These new systems would influence the type of the work that can be done in the shop floor greatly and would change Aziz from a decision maker in his part with all the autonomy and credibility he has to just a regular employee that manages what the new system dictates. Such change would affect Aziz’s motivation to contribute to the new system as discussed by Leavitt (2007). Leavitt argues that the increased bureaucracy and the rigid system turns employees into machines performing the work without thinking, and that would be against the human nature that tends to think and innovate. He also argues that the introduction of IT systems and technologies would be harmful to humans in the work place especially if companies abuse them. He however managed to argue the point from the employee point of view without mentioning the companies perspective at which standardization and new technologies raises the efficiency and performance of the companies and can allocate resources to new departments or new functions. If Aziz were opting the same perspective as   without having the picture cleared that this new system (budgeting and operations review) would benefit him as well as the company, he would tend to resist that change. In the framework of Herzberg (1987), job participation is one of the important myths to job or task enrichment. He emphasizes that giving the employees the big picture and giving them a feeling that they will determine in some measure what they will do in the job; would not be beneficial to the job. Wilson, Straw, Long and Pedder managed to do exactly this part. It would be against Aziz’s benefit if he would resist correcting the situation of the company. He would seem wrong and would hurt himself and his career in CCC if he was explained the current situation and the competitive market condition and how is that affecting CCC and what are the measures needed in the next few weeks / years to correct the competitiveness of CCC. Aziz should have been offered the chance to contribute to the budgeting and even could have been appointed a task in suggesting the best production and budgeting scheme that would save the company time and money. Bassett-Jones & Lloyed (2005) negated the approach of Herzberg and emphasized on the importance of employee’s contribution to the job in order to grant satisfaction. By seeing their ideas being implemented without delays and with the approval of the manager that this idea will contribute to the best of the company, the employee will have a sense of ownership and commitment towards making the idea work. Ford, Ford, & D’Amelio (2008) stated that the resistance to change can be the cause of the management’s actions themselves as they fail to develop trust. They failed to argue that in some cases, the employee(s) have their own agenda and they (employees) are the ones to trigger the resistance. The centralization of the decision making in CCC allowed the formation of a divisional company organization where Aziz’s team form the major part of it. Having this high autonomy formed a specific organization culture perhaps that Aziz is indispensible and hence he is in control. Such a culture would cause Aziz to be reluctant to accept changes specially after CCC lost some of its competitiveness in the market for few years and yet no complain from  Cox and/or the management. Meyers & Martin (1987) suggest that as the organization structure form the organization’s culture and beliefs, so does the leaders of the company. It can be noticed that Cox influenced the idea that the minorities in his company are indispensible, since they support him politically and socially because of their existence in CCC. It can also be noticed that Cox did the interactions with Aziz and the production team on a personal level and hence when changes were mandatory, Aziz opposed it because it did not come from Cox himself and such resistance will not be punished by Cox. It also can be noticed the degree of autonomy in the company when the budgeting scheme is needed, each manager submitted an estimate of expenditure not the actual amount spent the year before or the required budget needed based on the previous year expenditure and the business forecast for next year. The shallow pyramid of hierarchy especially in the management accounting and financial can explain such autonomy. The creation of the subgroup and hence the subculture allowed the lobbying in the production department to happen and to resist any change as long as it is not in their direct favor. Such collectiveness behavior was developed by the centralization of decision making by Cox and the high degree of autonomy he allowed for such a group. In his study, Polzer (2004) has concluded that subgroups and subcultures in organizations tend to have harmful effect on collective welfare that extends beyond the boundaries of this individualistic subgroup. In CCC case, if the production department’s employees feel threatened; they can trigger actions to stop that threat, such as calling for a strike or threating to collectively resign and hence hurt the company by stopping the production. They are well aware that hiring such a large number of employees in a short time will be deemed impossible especially with all the experience they have. Even if the job has high degree of analyzability and does not require specialists to perform it. Moreover, collective resignation would hurt the image of the company and would cause business to be lost to competition even if it is on a temporarily basis. Perhaps what triggered that defensive mechanism with this subgroup is the introduction of the outsiders even if they were completely in a different  department. As proposed by Johnson (1992), introducing outsiders can help in managing the change since the outsider shall have a fresh view of the organization or the department that is undergoing the change. However, he did not mention how that would affect the change recipients themselves and how far would they accept the outsider. He also did not identify if the outsider came from inside the organization (i.e. internal transfer) or from outside the organization and what difference would that make. Alternatives: So, what would CCC management do to resolve the current situation? 1. Do Nothing. The benefits of calming down the current situation and the production department are to ensure the company is kept in operation. Although margins are dropping, the company is sill profitable. However, the disadvantages of this situation are more than its advantages. The operation department will tend to increase its power and influence on the company since now they felt powerful and indispensible, also, they might try to find another alternative or group together and establish another competing company and resign collectively which would put the company out of business. 2. Use a sacrifition sheep: Firing Aziz and the seniors in the production department and replacing them with other seniors from inside the department can be a solution to send a clear message to the rest of the crew that the change is happening regardless of the opposition. This can benefit CCC by establishing a clear strategy that the company is moving forward with the change and personnel have to choose. However, if it backfires, the company can lose too much and we can revert back to the scenario in solution No.1. 3. Driving changes smoothly and in the welfare of the production department: There is no doubt that political consideration has a major play in such situations and it can resolve lots of issues. By calling Aziz and the seniors in the department and explaining the change to them and how would introducing new budgeting system and/or new operation schemes would benefit the company as a whole and the department specifically; they would tend to comply with that change. Asking for their assistance would be a better solution than resisting the resistance. The situation can be transformed to the benefit of CCC if the production department personnel understand the current challenge and start to challenge the status quo themselves, knowing that what will be done will be reflected on their welfare. By adopting the DICE methodology explained by Sirkin & Jackson (2005) to drive the changes as follow: I. Set the Duration of the transformation process with clear and concise milestones. Milestones keep goals tracked and in prospective, encouraging everyone to participate by some sort of recognition would help the process. II. Identify the required personnel and allocate tasks according to their capabilities and traits. That would keep the project Integrity intact and minimizes the risk of duration slippage and/or wrong interpretation of tasks and their requirements. III. Management participation and Commitment to the project as well as employees affected by the change. Management as well should demonstrate how these changes are going to change the welfare of employees and how committed they are to doing so. IV. It should be clarified that each and everyone concerned with this change process should be expected to exert an extra Effort until the transformation is completed. The manage ment should lead by example in this regard and make it clear that any extra effort exerted in this period shall be rewarded on both the long and short term. Recommendations: It is recommended to follow resolution No.3 above, since CCC is considered an SME not a corporate and since they are bound to the acceptance of the strongest department to change. Moreover, this resolution addressed the concerns discussed in the study above which mainly are the job security, motivation, job enrichment of the employees while helping in changing the company culture on the long run by getting the employees to exert extra effort and see their ideas come to live, that would develop a sense of belonging to the company which will benefit the company on the long run. Also, that approach would strengthen the concept that the company is willing to accommodate their employees and work out the changes with them for the best interest of both parties. Plan of actions: Harold Cox, Erica Wilson along with all the company seniors should demonstrate participation and ownership of the change process. It was not a  good idea to leave the interaction being led by the new appointee(s) considering the company culture. The involvement of the top management whose faces are familiar with the production team would ease the effect of the change and indicate that the change are being driven from within not that the outsiders are taking over the company. Depending on the change required; the process duration should be set. Would the management desire only a cost control and lean operations concepts to be implemented or they would require production enhancements by increasing the throughput of the company? Would they procure new technology, which would require training, installation and production scheme change? Would they introduce differentiation either horizontally or vertically to the current products? The easiest change to start with is to introduce cost control and operation optimization associated with achieving the minimum efficient scale of the factory and then drives another change. Driving a major change at once would again be resisted. Mainly the production department would be affected, other departments too, such as financial and management accounting. The latters would be expected to drive the major portion of cost control through supply chain optimization. Introducing operations management department would also help enhancing the operations of the whole company and helping the company to slim the inefficient operations in all departments. It would be expected that some side effects such as additional expenses would follow as sort of rewards to the contributors in the change process to encourage the participation. Also, production lag would occur until the change process is finalized, that could be due to shop floor adjustments or personnel getting accustomed to the new change in the production process, hence, it would be a good idea if the company could produce some reserve capacity to cover this aspect. Bibliography Bassett-Jones, N., & Lloyed, G. C. (2005). Does Herzberg’s motivation theory have staying power? Journal of management development , 24 (10). Ford, J. D., Ford, L. W., & D’Amelio, A. (2008). Resistance t change: The rest of the story. The academey of management review , 33 (2), 362-377. Herzberg, F. (1987, September). One more time: How do you motivate employees? Harvard Business Review . Johnson, G. (1992). Managing strategic change – strategy, culture and action. Long Range Planning , 25 (1), 28-36. Leavitt, H. J. (2007). Big organizations are unhealthy environment for human beings. Academy of management learning & education , 6 (2), 253-263. Meyers, D., & Martin, J. (1987). CULTURAL CHANGE: AN INTEGRATION OF THREE DIFFERENT VIEWS. journal of Management Studies , 24 (6), 623-647. Polzer, J. T. (2004). How Subgroup Interests and Reputations Moderate the Effect of Organizational Identification on Cooperation . Journal of Management , 30, 71-96. Sirkin, H. L., & Jackson, A. (2005, October). The hard side of change management. Harvard Business Review , 33-47.

Dell Computer Corporation †Share Repurchase Program Essay

1. Why do companies use stock options to compensate employees? What are the advantages of stock options relative to cash compensation? What, if any, are their disadvantages? 2. What, if any, risks do Dell’s shareholders face from Dell’s stock option program? Draw terminal payoff diagrams to illustrate the risk. Is this risk something that shareholders of Dell expect to bear when investing in Dell? 3. How does Dell remove, or hedge, the perceived risk of the stock options program for shareholders? Draw terminal payoff diagrams to illustrate. 4. Why does Dell transact in both call and put options? Use put-call parity to reformulate the put and call positions that Dell takes in terms of Dell’s stock and borrowing. What effectively does Dell’s call and put positions accomplish? Is risk management the primary motivation for Dell’s actions? A stock option is an offer by a company that gives employees the right to buy a specified number of shares in the company at an agreed upon price (usually lower than market) by a specific date. The benefit of granting options to employees is viewed as a good thing because it (theoretically) aligned the interests of the employees (normally the key executives) with those of the common shareholders. If a material portion of a CEO’s salary were in the form of options, she or he would be incited to manage the company well, resulting in a higher stock price over the long term. The higher stock price would benefit both the executives and the common shareholders. Substituting options is supposed to keep executives eyes on the long term since the potential benefit (higher stock prices) would increase over time. Also, options programs require a vesting period (generally several years) before the employee can actually exercise the options. This is in contrast to a â€Å"traditional† compensation program, which is based upon meeting quarterly performance targets, but these may not be in the best interests of the common shareholders. For example, a CEO who could get a cash bonus based on earnings growth may be incited to delay spending money on marketing or research and development projects. Doing so would meet the short-term performance targets at the expense of a company’s long-term growth potential. Stock options creates a financial stake of employees in the firms growth. The executive stock options allows the employees to participate in the upside performance of the firms, incenting them to work harder. Although there is a cost associated with the use of employee stock options. The equity holders do not earn same level of returns as they would have if the firm would not have issued executive stock options to its employee. This loss of return in the form of dilution is the cost that equity holders have to pay for having the employee stock option program. However, this cost is mitigated by the fact that if the market value of the firm’s asset decreases, the employee shares the downside as well, thereby absorbing some of the impact of the market value decrease from equity holders. Another cost that the equity shareholders bear is the liquidity cost. The employees are usually paid a higher market value of stock options then they would otherwise receive solely through wages due to the fact that the options they received cannot be traded or realized until a particular date. The use of executive stock options transfer some of the market risk from the equity holders to the employees thereby reducing the beta of the equity. At the time of case, companies are not required to report any compensation expense in their publicly filed financial statements when they grant stock options. However, when certain options are exercised, companies receive a tax deduction, which can provide significant income tax savings. There are two arguments that you’ll commonly find against the use of stock options: Dilution of ownership and overstatement of operating income. When an employee exercises her stock options, the company has to either issue new shares or go out on the open market and purchase shares. If new shares are issued, then your ownership is diluted. If the company purchases shares on the open market, then the company, which only receives the exercise price from the employee, has to pay market price for the shares it purchases. This results in a net cash outflow for the company. Since the impact of the compensation deduction that a corporation can claim for tax purposes is not included in a company’s GAAP income, many take the view that using options enables the company to overstate its income. Risks to Dell shareholders: Dell Share holders bear the risk in the form of cost of potentially issuing the stock at below market values if the employees do convert the options into stock when the options are in-the-money. However, if the options expires out of the money, the shareholders realize equally better benefits. In this case, the firm obtains labor from employees without having paid for the labor by issuing shares. The employee stock options provides a cushioning from the full burnt of the downside of a firms poor performance while taking a share of the upside benefits also. There is essentially a risk transfer from shareholders to employees through the use of employee stock options. The share holders pay a fair cost to incent employees to be more productive. The executive stock options seem to counteract some of the risk that shareholders naturally bear when they buy a stock. Hedging the risk of Stock options: By issuing employee stock options, Dell presumably takes a short call position on its stock thereby creating a liability to be paid in future. (Appendix shows the payoff diagram of Dell’s liability because of the employee stock option program.) To hedge the risk associated with the liability Dell is purchasing a 2.8 M call options. This effectively hedges the risk of the executive stock option program back to the shareholders. Dell by engaging in the put and call options is basically equivalent to buying a forward contract on its own stock. With the share repurchase program, Dell is also pursuing a strategy of having long call and short put position. Using the put-call parity, (Appendix) the long call and short put transaction is equivalent to buying stock by borrowing money. So dell’s long call and short put transaction is equivalent to a levered share repurchase. As a result of the above transaction the risk of having a combination of long call and short put is higher then that of just having a long call position (employee stock option program), which is transferred to dell shareholders. In this case dell is hedging the risk in the same way as a levered share repurchase program would work by creating more value to the shareholders by increasing the risk borne. I had completed the analysis of the Dell’s proposed stock repurchase program for upto 12 Million shares and the use of the equity options as part of the repurchase. As per the information available the put-call transactions along the share repurchase program being employed by Dell would create substantial value for the firm and the shareholders only if management has private information that Dell stock is undervalued and would perform above expectations in the coming months.