Goodness of the Service Level and Current Structure Assignment - 22

Goodness of the Service Level and Current Structure - Assignment Example However, equation 2 and 4 only hold if y= 0, for non-negative values of x andy. Consequently, x= 4300 is the optimal number of vaccine doses that the facility can purchase for optimality. From the confidence interval formula for normal distribution, Z=(mean-Â µ)/(standard error) And mean-Â µ = zero and this means that Z is not defined. As Z approaches infinity, however, the probability of failure approaches zero. Therefore, at 4300 doses, the facility has a zero percent probability of failure. The optimal number of vaccines and chance of running out of vaccines Optimal profitability occurs when total cost equals total expenditure for generating the cost. Assuming that an organization purchases z doses of the vaccine and sells x doses and returns y doses to the Centers for Disease Control and Prevention, the following are computations for the optimal number of vaccine doses and the chance of scarcity. Cost of vaccine= 4z= 4(x+y) Revenue= 15x+ y, based on $ 15 sales price and $ 1 buy back price. Reduction to lower levels such as $ 7 per dose would motivate people into and increase a total number of used vaccines. A reasonable profit level would, therefore, be possible, and even higher levels attained due to a higher number of unit sales. Such a reduction in price would also promote quality of health by preventing flue (Thompson 1). A hold on the buy-back policy is likely to reduce facilities’ stock level and therefore limit the availability of vaccines. In addition, unused vaccines would lead to greater losses and prompt facilities to charge higher prices on sales. Consequently, holding the buy-back is likely to reduce demand for vaccines and increase the burden of the flue.

The Strategic Finance Of Nestle Management Essay

The Strategic Finance Of Nestle Management Essay Nestlà ©s case study provides various examples which demonstrate a link between concepts drawn from pre-requisite modules. In my opinion, the link between First Mover Advantage model clarified in Strategic Management and the concept of Merger Acquisition covered in Strategic Finance are the most interesting. Figure 1.1 provides evidence found through the combination of these two concepts. Figure 1.1: Link between FMA and MA Evidences In the 20th Century, Nestle expanded through a series of acquisitions Nestle enters markets early-before competitors Acquires local firms when good opportunities arise Local brand for local market (Customization) 2/3 of Nestlà ©s growth generated from acquisitions FMA to Polish market Nestlà ©s Acquisition of Goplana Strategic Finance (NarayananNanda, 2004) First Mover Advantage Strategic Management (Johnson et.al, 2008) Merger Acquisition First Mover advantage is defined as the benefits generated for a firm that breaks in new markets first (Johnson et.al, 2008). The aim is to build a strong and sustainable position within the market as a way to defend potential competitive newcomers. Regarding Nestlà ©, the company enters emerging markets early before prospective competitors in order to build a significant position within them (Case Study, 2011). Thus the company is able to respond to any potential economic and population growth within emerging markets as well as to any possible upcoming competition. Mergers Acquisitions are strategic components dealing with buying or combining different companies that can assist the company to a speedy growth and improve its financial performance especially in the long term (NarayananNanda, 2004). During the 20th century, Nestlà © has undertaken a number of mergers and acquisitions, most notably the acquisition of Maggi in 1947, and thus has achieved to extend its geographic presence and product line (Case Study, 2011). Nestlà ©s acquisition of Goplana, is an interesting example of how its activities link with the companys long-term strategy of achieving first mover advantage within the Polish market (Case Study, 2011). The company was aiming to rush its development inside the market and maintain its authority. As such, Nestlà © retained the local staff and management of the acquired company and carefully adjusted the Goplana product line to better fit local opportunities (Case Study, 2011). Overall, acquisitions have been an important function for Nestlà ©s growth (Cook et.al, 2003). Alongside the MA group, the firm uses people from the finance sector as to assist the financial analysis of MA process (Cullinan et.al, 2003). This shows a clear link between Nestlà ©s FMA strategy and its MA activities. The firm maintains local companies with regional staff in local markets as to better customize its performance by creating share value and local expertise. Significantly, the success of Nestlà © in growing local companies also depends on the management development programmes that Nestlà © uses in order to come closer and train its local managers (Case Study, 2011). The process of entry for a company influences its ability to create value. According to Rahman Bhattacharyya (2003), Nestlà © has benefited by acting as a first mover in emerging markets. In terms of business development, the company sometimes involves mergers and acquisition activities as a way to grow and create value. Moreover, the reasons behind the MA activities can vary according to expectations. These may be the economies of scale, speed of entry, shareholder expectations and so on (Johnson et.al, 2008). Mergers and acquisitions are considered as one of the most dynamic ways in which a firm can recombine assets to create value (AhernWeston, 2007). By being the first mover into a market it may hides some drawbacks. Hill Jones (2009) noted that first movers have to tolerate large costs of pioneering that later movers may not. Also first movers may fall into substantial mistakes and risks as they lack experience, where second movers can enjoy knowledge and improvements through first movers gaffes. Similarly, MA is a particularly stressful practice for people involved within the new corporate culture and structure that can create ambiguity, anxiety and antipathy amongst companys staff (Appelbaum et al 2000). Such a fact can destroy the organisations value. 2nd Question: Does it make sense for Nestlà © to focus its growth efforts on emerging markets? Why? According to the Case Study (2011), by the early 1990s Nestlà © realised that it faced important challenges in maintaining its rate of growth within the markets of Western Europe and North America. Therefore, the company has turned its attention to emerging markets for further growth. Rapoport (1994) stated that developed markets are in the saturated phase of their life cycle where the competition is becoming higher, creating the war of price and substitution. Due to the economic downturn in such markets, people incomes have been characterised as incomplete and thus consumers are becoming more price conscious. Additionally, population indexes show that the population growth rate has been stagnated in contrast with the emerging world which is expected to expand by the year 2015 (Delegge, 2009). Delegge (2009) stated that emerging market economies are growing at a faster pace than those in developed countries. Furthermore, the researcher indicates that due to the combination of the global recession and the downturn of real estate prices, residents of emerging markets are expected to outperform both American and European consumers in terms of spending dynamics. Thereby Nestlà © translated emerging markets as an opportunity of higher growth returns with the promise of significant market share in the long term. In order to maintain its growth rate, it does make absolute sense for Nestlà © to focus its growth efforts on emerging markets. Goldman Sachs introduced the BRIC acronym (Brazil, Russia, India and China) that refers to the countries which are estimated for the next decades to be at a better stage than the current developed markets (ONeilStupnytska, 2009). Furthermore, they announced the concept of the Next Eleven (N-11) countries such as Nigeria, Mexico and Turkey which have the potential of becoming along with BRICs, the worlds dynamic markets by 2032 (ONeilStupnytska, 2009). Nestlà © has already been active in developing economies but it is therefore slight in contrast with their rival company Unilever. Moreover, the US food drink report (2010) notes that even with the greatest exposure in such markets; Unilever has experienced negative average revenue. This was due to its poor business management and incorrect decisions made over the last five years. Nestlà ©s core competencies and capabilities can enable the company to continue performing in emerging markets. Nestlà © has the ability to create brands quickly and in a sustainable fashion with products such as Nescafe, which also give strong focus on RD which enables the company to generate greater profits (Datamonitor, 2010). The company has the unique strength to customize global products with the same quality standards based on customer needs in the local market. Also, the firm has unmatched geographic existence in the emerging markets and so the company has the flexibility to deal with circumstances that sometimes cannot be easily predicted (SinghChild-Villiers, 2010). Applying those distinctive competencies, Nestlà © can earn greater returns and gain a sustainable advantage over its competitors. Rahman Bhattacharyya (2003) supported that unique performance within emerging markets can offer differential advantages for a first mover company. Following a first mover strategy, Nestlà © has benefited in many emerging markets as it was the first company which offered differentiated affordable products in local markets (RahmanBhattacharyya, 2003). Nestlà © aims to build a substantial position by achieving successful customer perceptions. Moreover, as the market grows and income levels rise, Nestlà © can potentially benefit by being responsive in such possible situations. Nestlà © can also take advantage of location economies, which are created from performing a value creation activity in the best location possible (HillJones, 2009). For instance, Nestlà © has opened a new factory in Nigeria which was dedicated in Popularity Positioned Products (Nestle, 2011a). This enabled the company to achieve lower costs and therefore facilitated the company to customizing its products in terms of price and accessibility. Thus, by enduring in such location economies, Nestlà © can gain a competitive place in each single location. 3rd Question: What is the companys strategy with regard to business development in emerging markets? Does this strategy make sense? From an organisational perspective, what is required for this strategy to work effectively? Regarding the business development in emerging markets, Nestlà ©s strategy was to enter markets before competitors in order to get the first mover advantage. The company aims to build a significant position within the developing world and thus be able to understand and satisfy the requirements of local population. Nestlà © acquires local firms when valuable opportunities arise during the entry process of the company into new emerging markets. A good example is that of 1995 where Nestlà © acquired Rossia, one of the leaders of chocolate manufacturer in Russia (Nestle, 2009). Nestlà © realised the chances that have been offered from the opening of Russian market and the increase of income levels, by making this new investment. In addition, there are times when Nestlà © enters emerging markets by building its own infrastructure from scratch, such as in China. Considering such a method, the company enters markets where no actual competitors exist and thus creates its own paths as a way to establish a market presence. Nestlà ©s product portfolio includes a strong presence of numerous key brands which focus on developing local marques for their respective markets thereby escaping its global brands for these customers (Urde, 1999). Overall, the company owns 8500 brands under its organisational umbrella and less than 10% are registered in more than one country. As an alternative way of trying to force a product in a market, the company customizes its product based on the needs of the local consumer and focuses at the extent of achieving economies of scale. At the moment, Nestlà © follows the strategy of adaptation to local conditions by using its in house PPP (Popularity Position Products) method which offers affordable products of high quality to meet the needs of emerging consumers (Nestle, 2010b). In the long-term, Nestlà © is aiming to supply the whole region with various products in order to realize economies of scale. For instance, as part of its long term business development strategy in Middle East, Nestle has established a network of factories in five countries. According to Porters generic strategies figure 1, Nestlà © adopts focus/niche strategy which reduce company risks and focus its marketing efforts on a limited number of market segments (Eldring, 2009). By adopting such a strategy, the company aims to build a substantial position in these particular markets so as to gain a competitive advantage using product innovation and marketing activities. Due to the fact that these economies are growing at a fast pace, Nestlà © is able to escape such segments and can offer a wider variety of upscale products such as mineral water and prepared foodstuffs (Case Study, 2011). (Source: Adopted from: www.mindtools.com/media/Diagrams/GenericStrategies) The successful presence of Nestlà © within developing markets verifies that the implication of Nestlà ©s strategy has been correctly applied. The corporate structure that Nestlà © comprises is closely related with the idea that all markets are equally important. Lavelle (2004) mentioned that Nestlà ©s strategies originated from a particular point and are independently applied from its local units. In order for the strategy to work effectively, it is necessary for the company to consider the following issues. Firstly, the firm must have available resources to invest in RD as well as the fast and effective production of innovative products (Hitt et.al, 2009). Nestlà © has established 6 RD centres in emerging markets that provide the ability to launch new products quickly and efficiently (BulckeSingh, 2011; Bauer, 2011). In order for the company to maintain its advantages over the competition it is imperative to continue focusing and investing on its RD activities. Secondly, the company must ensure that products can be customized at the requirements of any local market. Using the PPP model, Nestlà © is able to offer its products based on the requirements of the emerging consumers. Finally, Nestlà © must continue focusing on long-term investments in order to sustain a competitive advantage within the emerging markets. 4th Question: Through your own research on NESTLE, identify appropriate performance indicators. Once you have gathered relevant data on these, undertake a performance analysis of the company over the last five years. What does the analysis tells you about the success or otherwise of the strategy adopted by the company? Key Performance Indicators can be described as the main companys parts that assist to define and evaluate the success of a strategy in which the business is involved (Eckerson, 2009).Obviously, companys performance indicators can differ according to the reasons that have been composed for. Performance Indicators can be defined using numerous models, one of which is the Balanced Scorecard. The concept involves both qualitative and quantitative measures which evaluate the performance regarding the strategy chosen (Johnson et.al, 2008). Figure 4.1 applies the concept of Balanced Scorecard for Nestlà ©; an analysis has been carried out and can be seen below. Figure 4.1: Nestlà ©s Balanced Scorecard Financial Sales EBIT Net Profit NESTLE To be recognised as the world leader in Nutrition, Health and Wellness, trusted by all its stakeholders To be the reference for financial performance in its industry Internal Business Employees Factories Customer PPP Customer Acquisition Learning Innovation GLOBE-NCE RD (Source: Adapted from Johnson et.al, 2008 www.nestle.com) Firstly, the financial perspective can help the company understand its shareholders perception. Nestlà ©s EBIT grew steadily in the past 5 year period from CHF 13302 million to CHF 16194m in the year 2010, a growth of 21.7% (Nestle, 2011c). Significantly, 2009s EBIT was reported at CHF 15699m, an increase of just 0.15%. Moreover, the relative sales figures grew from CHF 98458m in 2006 to CHF 109722m in 20010, dropping at CHF107618m in 2009 after a successful year in 2008 where sales were at CHF109908m (Nestle, 2011c). In addition, the net profit margins showed a dramatic growth over the last five years from CHF9197m in 2006 to CHF34233m in 2010. Such a significant increase of net profit was due to the disposal of 52% of Alcons outstanding capital, which increased the profit (as a percentage of sales) from 9.7% in 2008 to 31.2% in 2010 year (Nestle, 2011c). Secondly, an internal analysis makes it possible to identify the level of operational procedures of Nestlà ©. During the year 2006, Nestlà ©s workforce involved 265 000 people, a number that increased in the year 2008 to 283000. Throughout 2009, the company cut about 5000 jobs resulting in a 281000 person workforce for 2010 (Nestle, 2011b). In addition, the company in 2009 was operating 449 factories 30 less from the year 2006 (Nestle, 2007b; 2010a). With respect to the third perspective of Learning Innovation, Nestlà © seems to have a strong focus throughout the years. Taking into consideration Nestlà ©s product innovation, it can be seen that the company is aiming for a deeper scope within this area. In 2006, Nestlà © spent about CHF 1.7 billion for its RD with a further increase in the following years (Nestle, 2007b). According to Nestlà © (2010a) spends about 1.9% of its annual revenues on its RD program which is considered as one of the key drivers of growth. In addition, the company combines two programs, GLOBE and NCE, which enable the reduction of production waste. Through these models, Nestlà © has achieved CHF 1 billion in 2008 which has further increased its efficiencies to a CHF 1.5 billion saving in 2009 (Nestle, 2010a). Finally, the consumer perspective is related to how customers perceive Nestlà ©. This can be measured through Nestlà ©s PPP model which aims to focus on low-income consumers around the world (Nestle, 2010b). Within 2007, the PPP performance involved 37 countries while in 2008 this number almost doubled to 70, generating an organic growth of 27% (Nestle, 2008). In 2009, PPP achieved sales of CHF 8.8bn with an organic growth of 12.7% (Nestle, 2010b). As a final point, 2010s concept encompassed 90 countries with sales figures of CHF 11bn and a double digit growth (Bulcke, 2011) Overall, the analysis of such indicators shows that Nestlà © has been able to improve its performance over the last five years. Despite the crisis triggered in 2008, Nestlà © is actually steady on a financial and non-financial scale. It seems that the long term strategy generates positive results for the short term as well. Giving focus on customization of local markets through the PPP concept, the company builds strong roots for the future, particularly in emerging markets as there are high growth potentials. 5th Question: How would you describe Nestlà ©s strategic posture at the corporate level; is it a pursuing, a global strategy, a multi-domestic strategy, an international strategy or a transnational strategy? Multinational companies use four main primary strategic postures when competing in the international environment. These are illustrated in figure 5.1. Such strategies depend on factors that are related to two types of pressures, Cost Reductions and Local Responsiveness (Hill, 2009). Figure 5.1: International Operations Strategies TRANSNATIONAL STRATEGY Move material, HR, ideas across national boundaries Economies of scale Location Economies Ex. Nestle, Kraft GLOBAL STRATEGY Standardized products Economies of scale Ex. Motorola, Intel High MULTIDOMESTIC STRATEGY Customization Different National Markets Ex. MTV, McDonalds INTERNATIONAL STRATEGY Import/export Minimal local customization Ex. Microsoft, PG Low High Low (Source: Adapted from Hill, 2009; AhlstromBruton, 2009) Figure 5.1, demonstrates the conditions under which each of the International Strategies are most appropriate. In addition, it shows some key characteristics of each strategy and gives examples of companies that follow different strategies. Regarding Nestlà ©s strategic posture, the company traditionally operated on a decentralized structure as a way to customize its product offerings to local needs, a key characteristic of a multi-domestic company. With the multi-domestic strategy, an organisation focuses on national differences and customizes its products by responding to the needs of the local preferences. This is in contrast to the global strategy where the company is able to improve its profits and development through lower costs that are derived from location economies and economies of scale (Hill, 2009). Due to the high competitive conditions that Nestlà © faced along with the need to obtain cost reductions, the company moved one step ahead by adopting a transnational strategy (Busco et.al, 2006). Such a strategy involves elements of global and multi-domestic strategies through which the company seeks to achieve both cost efficiencies and local customization (Hitt et.al, 2009). Child-Villiers, Head of Investor Relations, noted that Nestlà © is now integrated in a proactive and efficient way within the markets. He also supported that the company goes one step ahead as it links the globe with Nestlà ©s Continuous Excellence programme (BulckeSingh, 2011). Similarly, its competing company, Kraft Foods shifted to a transnational international strategy to better compete and grow (FoodProcessing.com, 2007). Within Nestlà ©, its national units are characterised as semiautonomous as they are able to involve decisions such as pricing and marketing in order to customize the products to local needs. Localization rather than globalization is the key characteristic of the companys idea which is also supported by the belief that there is not a single product for everyone (Nestle, 2007a). Although the authority of local subsidiaries are still decentralised, the firm has an integrated structure of seven strategic business units (SBUs) that manage advanced strategic decisions for key products ranks and achieve cost economies by centralizing operations such as acquisitions, production and RD (Hill, 2009). The company is divided into five divisions made up of Africa, America, Europe, Asia and Oceania. However, each zone assists in the development of the overall strategy but do not interrupt the local strategic decisions. It can be noted that Nestlà ©s activities and resources are neither centralised in the company, nor decentralised so that each subsidiary unit is able to operate separately in local market. Peter Brabeck-Letmathe, the CEO of Nestlà © noted that while the company comes closer with the consumer the more decentralized it is, he nevertheless supported that the more it is dealing with high level judgments, the more centralized decision making becomes (Wetlaufer, 2001, p.116) Moreover, following a transnational strategy it may sometimes require the company to adapt a more flexible tactical expansion and therefore involves a partnering with other organisations or exclusively owned acquisitions (DooleLowe, 2008). For instance, in 2003, Nestlà © formed a partnership with Colgate-Palmolive in order to develop a gum and candy product line. This was done in an attempt to capture a share of a market dominated by other competitors (Fox, 2005). 6th Question: Does this overall strategic posture make sense given the markets and countries that Nestlà © participates in? Why? Generally, Nestlà © operates almost in every country all around the world. Within the developed markets Nestlà © has a strong basis while in developing world the company involves a huge presence as they are potential markets for growth. According to Hill (2009), transnational strategy makes most sense in markets where the pressures for cost reductions and local responsiveness are high. Due to the high competitive levels and the financial complications that exist in developed markets, companies have to rethink about their strategies in order to survive (Hill, 2009). Then again, emerging markets involve low spending consumers with different preferences and tastes as well. It is therefore important for firms to respond at the cost pressures and the local requirements of the markets (Hill, 2009). Following this transnational structure, Nestlà © is able to customize global products in accordance with consumer requirements in the local market. This can be achieved through its autonomous local units which are responsible to understand the local needs and decisions related to marketing and distribution. Using an extensive market research, the company offers its products under the organisation umbrella and specializes on building brand names that are associated with local conditions (XieBoggs, 2006). Consequently, the company achieves the advantage of building customer loyalty and brand equity in local markets (Pass et.al, 1994). Allowing the subsidiaries to modify their packaging and distributions channels to meet local needs is a further benefit for Nestlà ©. In instance, Nestlà © and Mars in UK have combined their confectionery deliveries to Tesco, as a way to reduce as much possible trucks from Britains roads (IGD, 2010). This had a result to reduce both environmental and distribution costs. Since the early 1990s Nestlà © UK has been recycling its packaging as a way to reduce the amount of packaging used (IGD, 2008). The company decreased not only the costs of packaging but also its transportation costs since less Lorries are required. Regarding Nestlà ©s strategic posture, the companys subsidiaries within emerging markets have achieved to reap previous learning and ideas that have been used in developed markets (BulckeSingh, 2011). It seems that the company has succeeded to successfully transfer capabilities, skills and core competences in these markets. Hill (2009) supported that a transnational enterprise must give strong attention on flexibility by exploiting an information flow among the organisation and its local units. Thus, the key characteristic of transnational strategy offered the ability for Nestlà © to achieve almost 40 billion of sales in emerging markets and a growth of 11.5% in 2010 year (BulckeSingh, 2011). This worldwide combination strategy allows Nestlà © to enjoy benefits of low cost through location economies and economies of scale (Ireland et.al, 2008). For instance, as part of its strategy in the Middle East region, Nestlà © has set up a network of factories in five countries with a prospect to supply the whole region, achieving at the same time economies of scale (Case Study, 2011). Through the integration of regional economic groupings the company is able to produce larger units which can supply entire areas, building at the same time competitive advantage (Nestle, 1999). Sometimes, the transnational strategy involves a complex structure which includes a potential danger of losing control. Under this circumstance the organisation involves problems of creating a practical and valuable organizational structure and it is therefore impossible to manage the strategy (Hill, 2009). According to Bartlett et.al (2010) in order avoid any risks the transnational strategy requires a balanced binary of decision making and not a choice of one or the other but of where, how, when. 7th Question: Is Nestlà ©s management structure and philosophy aligned with its overall strategic posture? The management structure and philosophy is well affiliated with Nestlà ©s overall strategic posture. Nestlà © provides cooperation between local autonomy and centralized decision making. Even that the authority to local subsidiaries is decentralised, the firm is organised into seven SBUs that involve in the overall strategy development. Thus the multinational firm focus on local responsiveness and global integration (BartlettGhosal, 2000). The companys structure is well matched with the concept of transnational strategy. The SBUs that Nestlà © performs around the world are responsible for top strategic decisions which have specific focus on particular product lines such as coffee and beverages (Parsons, 1996). In addition, these SBUs participate within the overall companys strategy where Cook et.al. (2003) noted that the acquisitions made from the SBUs are essential drivers of firms success. Beside that structure of SBUs, Nestlà © includes regional divisions in five key geographical zones (Case Study, 2011). In combination with SBUs, these regional organisations are also supporting the overall strategy and business development. It is also important to state the RD that Nestlà © operates which focus on the creativity and production of products that meet local requirements. The RD function involves 29 research groups within various countries around the world (Bauer, 2011). Beyond such structure, Nestlà © decentralized as the responsibility for market decisions is carried down to local units which are basically operate autonomously for various local judgments. Nestlà © supports the philosophy that there is no single product for everyone, which achieves to understand local preferences through its subsidiaries and thus develops tailored products that meet those tastes and habits. Figure 7.1: Nestlà ©s organisation chart (Source: Adopted from: www.Nestle.com) Following the above figure 7.1, it can be seen that Nestlà © operates within a global matrix structure. As it has been already stated above, Nestlà ©s structure centralizes in some operating decisions and at the same time decentralizes in cases of national operations. The company integrates its functional competencies and capabilities into local teams such as to successfully respond within the global marketplace (BulckeSignh, 2011). Thus using a global matrix structure the company is able to fulfil customer requirements from different geographical places (Ireland et.al, 2008). According to Hill (2009), a global matrix structure is highly recommended for an organisation which adopts transnational strategy in order to be effective implement. Since 2000, Nestlà © has developed its Global Business Excellence (GLOBE) approach with a prospect of simplifying its organisational process structure through an integrated knowledge system. The programme provides Nestlà ©s companies with similar plans, structures and best performance to integrate actions thru the entire organization and to support organizational strategy for business objectives (Johnson, 2005). Recently, the company reorganised its structure through the development of an additional programme known as NCE (Nestlà © Continuous Excellence). Through that method Nestlà © is able to reduce production waste by saving million tonnes of product material through know-how production such as recycling (Nestle, 2010c). Bulcke Signh (2011) noted that the combination of those two programmes, GLOBE and NCE, enable the company to drive cost-effective growth and outperform the market. Concluding, the idea behind those programmes was to reorganise the organisations structure as t o be linked with the overall strategy.

Financial Instability Essay -- Financial Market Finances Accounting Es

Financial Instability The soaring volume of international finance and increased interdependence in recent decades has increased concerns about volatility and threats of a financial crisis. This has led many to investigate and analyze the origins, transmission, effects and policies aimed to impede financial instability. This paper argues that financial liberalization and speculation are the most reflective explanations for instability in financial markets and that financial instability is likely to be transmitted globally with far reaching implications on real sector performance. I conclude the paper with the argument that a global transaction tax would be the most effective policy to curb financial instability and that other proposed policies, such as target zones and the creation of a supranational institution, are either unfeasible or unattainable. INSTABILITY IN FINANCIAL MARKETS In this section I examine four interpretations of how financial instability arises. The first interpretation deals with speculation and the subsequent â€Å"bandwagoning† in financial markets. The second is a political interpretation dealing with the declining status of a hegemonic anchor of the financial system. The question of whether regulation causes or mitigates financial instability is raised by the third interpretation; while the fourth view deals with the â€Å"trigger point† phenomena. To fully comprehend these interpretations we must first understand and differentiate between a â€Å"currency† and â€Å"contagion† crisis. A currency crisis refers to a situation is which a loss of confidence in a country's currency provokes capital flight. Conversely, a contagion crisis refers to a loss of confidence in the assets denominated in a particular currency and the subsequent global transmission of this shock. One of the more paramount readings of financial instability pertains to speculation. Speculation is exhibited in a situation where a government monetary or fiscal policy (or action) leads investors to believe that the currency of that particular nation will either appreciate or depreciate in terms relative to those of other countries. Closely associated with these speculative attacks is what is coined the â€Å"bandwagon† effect. Say for example, that a country's central bank decides to undertake an expansionary monetary policy. A ne... ...onal Financial Markets,† in Gerald Epstein, Julie Graham, Jessica Nembard (eds.), Creating a New World Economy: Forces of Change and Plans of Action (Temple University Press, 1993). Charles Hakkio, â€Å"Should we Throw Sand in the Gears of Financial Markets?† Federal Reserve Bank of Kansas City Economic Review, 1994. Richard Herring and Robert Litan, Financial Regulation in the Global Economy (Brookings Institution, 1995). Ethan Kapstein, â€Å"Shockproof: The End of Financial Crisis† Foreign Affairs, January/February 1996. Charles P. Kindleberger, The World in Depression (London: Penguin 1973). Paul Krugman, â€Å"International Aspects of Financial Crises† in Martin Feldstein, ed., The Risk of Economic Crisis (Chicago: University of Chicago Press, 1991). John McCallum, â€Å"Managers and Unstable Financial Markets† Business Quarterly January 1, 1995. James Tobin, â€Å"A proposal for international monetary reform† Eastern Economic Journal 1978, volume 4. John Williamson, The Failure of World Monetary Reform 1971-1974) (NY:NYU Press, 1977) L.B. Yeager, International Monetary Relations: Theory, History, and Policy 1976. .

The United States: An Empire in Denial

With the arrival and eventual establishment of a permanent settlement on American soil in the early seventeenth century, the English settlers came upon an expansive territory of land teeming with resources and endless possibilities. Soon, these settlers longed for liberty and thus desired to break free from the imperial clutches of British rule. Standing resolutely against a great and powerful empire, liberty was won in America by the blood of its founding fathers, indelibly written in the Declaration of Independence.Perhaps in these humble beginnings are the reasons why America today could never officially admit on how she has evolved into the empire she had once detested and fought. The facts, however, speak for themselves. America today is a colossal empire and as such, she has in her power the capacity to shape the future by creating a world environment conducive to profitable economic relations (especially to third-world countries) and international peace, both of which are in s hort supply, these days.What the world needs, according to Niall Ferguson in page 301 of his book ‘Colossus’, is an effective liberal empire and the United States is the best candidate for the job. What restrains America from accepting and performing its role as an imperial power? This paper delves on this question and discusses the following relevant issues: (1) definition of an empire, (2) what America has become, (3) the American might: strongholds around the globe, (4) the American empire: adherence and denial, and (5) America as the engine of global growth.America is now the only superpower in the world and she is in a position to greatly influence the course of human history. Main Body Definition of an Empire Probing into the topic at hand, it is necessary to elucidate on the true meaning of ‘empire’ as rationalized by Mr. Ferguson: An empire is ‘first and foremost, a very great power that has left its mark on the international relations of an e ra . . . a polity that rules over wide territories and many peoples, since the management of space and multi-ethnicity is one of the great perennial dilemmas of an empire .. . An empire is by definition . . . not a polity ruled with the explicit consent of its peoples, [But] by a process of assimilation of peoples of democratization of institutions empires can transform themselves into multinational federations or even nation states. (10) Thus defined, an empire does not require the general consensus of the people involved. However, an empire can adapt to whatever is the prevalent social, economic or political environment at hand. What America Has BecomeIn the course of human history for the past four centuries since the arrival of the English settlers in America, has the United States revealed itself, in whatever degree, as a nation with imperial intents? As Ferguson states: This book argues not merely that the United States is an empire but that it has always been an empire. Unlik e most of the previous authors who have remarked on this, I have no objection in principle to an American empire. Indeed, a part of my argument is that many parts of the world would benefit from a period of American rule (Ferguson 2).The United States is perceived to be the greatest empire to have ever existed in the history the mankind, propelling itself to the top, not only with its involvement and successes at previous wars, but most especially, with its exploitation of constant advances in science and technology for its defensive posture. In this field, America has no equal. As we have seen, by most conventional measures of power–economic, military and cultural–there has never been an empire mightier than the United States today (Ferguson289). The American Might: Strongholds around the GlobeFrom a military standpoint, America has the greatest influence over many other nations today. Controlling offensive and defensive strategic sites around the globe, its military arm is well-emplaced and is in the best position to act or react should the need arise. . . . the U. S. military has around 752 military installations in more than 130 countries . . . In the first year of President Bush’s presidency, around 70,000 U. S. troops were stationed in Germany, and 40,000 in Japan . . . Almost as many (36,500) were in South Korea . . .Moreover, new wars have meant new bases, like Camp Bondsteel in Kosovo, acquired during the 1999 war against Yugoslavia, or the Bishkek air base in Kyrgyzstan . . . At the time of writing, about 10,000 American troops are still based in Afghanistan, and it seems certain that a substantial force of 100,000 will have to remain in Iraq for at least the next few years. (Ferguson 16) What other nation in the face of the earth – be it in the past or in the present – could ever boast of such a claim? What other nation is more prepared to control vast areas of land, air and water with its military dominance?On lan d the United States has 9,000 M1 Abrams tanks. The rest of the world has nothing that can compete. At sea the United States possesses nine ‘supercarrier’ battle groups. The rest of the world has none. And in the air the United States has three different kinds of undetectable stealth aircraft. The rest of the world has none. The United States is also far ahead in the production of ‘smart’ missiles and pilotless high-altitude ‘drones’ (Ferguson 16). The American Empire: Adherence and Denial The United States today is an empire – but a peculiar kind of empire.It is vastly wealthy. It is militarily peerless. It has astonishing cultural reach. Yet by comparison with other empires it often struggles to impose its will beyond its shores . . . Only when the United States could cast itself in an anti-imperialist role . . . were the Americans able to perform their own cryptoimperial role with self-confidence (Ferguson 287). This is where the Ameri can nation faces its greatest hurdle in reaching its full potential and becoming a great empire for the greater benefit of the world, for it could not bear the concept of an Imperial America.It took a succession of humanitarian disasters abroad in the 1990s and terrorist attacks at home in 2001 to rekindle public enthusiasm for a more assertive American foreign policy, though even this had to be cloaked in euphemism, its imperial character repeatedly denied (Ferguson 287). But this denial is not a sentiment shared by all Americans. As events unfold and the need for change arises, more and more adherents to an imperial America surface, publicly giving voice to an advocacy silently embraced by a few.Richard Haas, who went on to serve in the Bush administration as director of policy planning in the State Department, argued that Americans needed to ‘re-conceive their global role from one of traditional nation-state to an imperial power’, calling openly for an ‘informa l’ American empire . . . As Thomas Donnelly, deputy executive director of the Project for the New American Century, told the Washington Post in August 2001, â€Å"There’s not all that many people who will talk about it [empire] openly. It’s discomforting to a lot of Americans.So they use code phrases like ‘America is the sole superpower’ â€Å"(Ferguson 4). There is little doubt that the declaration of an imperial America would profoundly provoke global agitation. However, one must bear in mind that this is not a new concept and that for decades, this abstraction has always been in the backdrop, even more so in every anti-American cause one would care to listen to. Few people outside the United States today doubt the existence of an American empire; that America is imperialistic is a truism in the eyes of most educated Europeans.But the theologian Reinhold Niebuhr noted as long ago as 1960, Americans persist in ‘frantically avoiding recognit ion of the imperialism [they] in fact exercise (Ferguson 294). All evidence suggests that America is an empire. The denial of the American populace and most especially that of the United States government to this fact is not an altogether innocuous act or claim, as in the present case of Iraq and Afghanistan. Does imperial denial matter? The answer is that it does . . .The trouble with an empire in denial is that it tends to make two mistakes when it chooses to intervene in the affairs of lesser states. The first may be to allocate insufficient resources to the nonmilitary aspects of the project. The second, and the more serious, is to attempt economic and political transformation in an unrealistically short time frame. (Ferguson 294) America as the Engine of Global Growth To this day, America remains to be the behemoth that it is with the American dollar taking its rightful place as the international currency in the global market.Twentieth-century history handed the United States a privileged position in the world economy; its currency became and has remained the world’s favorite. Since 1945 it has been used more than any other for denominating international transactions, and that has made it the preferred currency for central bank reserves (Ferguson 283). America, it appears, has everything that is needed to perform its imperial role. It is even likely that, in these times of widespread poverty, many countries would rally behind this cause for simple economic motives.The reason that so much overseas capital flows into the United States, so it is said, is that the American economy is the engine of global growth and foreign investors simply want a ‘piece of the action’ (Ferguson 281). At the end of the day, the alleviation of poverty through the creation of a dynamic and vigorous economy is the backbone of a peaceful nation. Here is where one sees the role that America should play. The Role that America Should Play What the world needs toda y is not just any kind of empire.What is required is a liberal empire- that is to say, one that not only underwrites the free international exchange of commodities, labor and capital but also creates and upholds the conditions without which markets cannot function- peace and order, the rule of law, non-corrupt administration, stable fiscal and monetary policies- as well as provide public goods, such as transport infrastructure, hospitals and schools, which would not otherwise exist. (Ferguson 2) The question that must now be answered is: ‘Can the United States achieve the role of being an effective liberal empire?’ There is no doubt that the America of today has a foothold on almost all of the essential attributes required to perform this role. Although the United States seems in many ways ideally endowed –economically, militarily and politically – to run such an ‘empire of liberty’ (in Thomas Jefferson’s phrase), in practice it has bee n a surprisingly inept empire builder (Ferguson 2). Because of the democracy with which America was founded upon, we have seen time and again how the American populace, in general, refuses to accept the concept of an empire.As such, it could not move on to greater heights of historical attainment. Others would claim that many millions of people around the world have benefited in some way or another from the existence of America’s empire – not least the West Europeans, Japanese, and South Koreans who were able to prosper during the cold war under the protection of the American nuclear ‘umbrella’ – and that the economic losers of the post-cold war era, particularly in sub-Saharan Africa, are victims not of American power but of its absence (Ferguson 13).In the words of retired General Anthony Zinni: ‘What is our obligation to the world? ’ We preach about values, democracy, human rights, but we haven’t convinced the American people to pony up . . . There’s no leadership that steps up and says, ‘This is the right thing to do’ . . . That’s the basic problem . . . There has to be the political will and support for these things. We should believe that a stable world is a better place for us . . . the U. S.would make a much greater difference to the world. (Ferguson 293) Conclusion Through the acceptance and support for an American empire by the American people themselves – which in itself is a huge undertaking – the United States could significantly alter the course of human history for the better. This conclusion could better be proven by questioning any of the multitudinous impoverished citizens from a third-world country if such a nation would be better off under the auspices of the American dollar.The United States has always been an empire in denial. A truly unfortunate fact for humankind would have a much better place to live in if only the world, most especially the American populace, would accept, recognize and support this undeniable reality of an imperial America. Works Cited Fletcher, Richard. Colossus. U. K. : Penguin, 2004.

Chemical bond Essay

Answer the following questions in your own words, using complete sentences. Based on your observations in the lab, categorize each unidentified compound as ionic or covalent. Explain in one or two sentences why you categorized the compounds the way that you did. (5 points) Based on my observations in the lab I categorized Substance A and Substance C as an ionic bonds because the solids don‘t conduct electricity but when in liquid state and aqueous solutions, electricity was conducted. I categorized  substances B and D as covalent bonds because the solids conduct electricity but the liquid state and aqueous solution do not. Explain, in your own words, the differences between ionic and covalent bonding that account for the differences in their melting points. (4 points) Ionic bonds typically have much higher melting points than covalent bonds because of their crystal-like structures. The bondage is much more complex and requires higher heat to break than a covalent whose bonds are broken relatively easy. In order to conduct an electrical current, a substance must have charged particles (ions or electrons) that are free-moving (able to move about throughout the sample). Why do you think ionic compounds are not able to conduct electricity as solids, even though they can as liquids and in solution? (2 points) I think ionic compounds can’t conduct electricity as solids because the particle are all packed together and have no room to move freely as opposed to the particle when in liquid state or solutions. Based on your research and observations, why do you think pure (distilled) water does not conduct electricity but tap water usually does? (2 points) I think this is because tap water contains more ions than distilled water allowing it to conduct electricity. I also think the minerals that dissolve in the water have a lot to do with the conductivity.

Mid summer essays

Mid summer essays In Shakespeare's "A Midsummer Night's Dream" the mortal teenage characters fall in love foolishly, and the character Bottom states, "O what fools these mortals be". They are foolish because they act like children. Although Lysander, Hermia, Demetrius, and Helena appear grown-up, when they are in love they act foolishly. The four teenage Demetrius is a fool because he is unaware that his love changes through out the play. At the start of the play Demetrius does not love Helena. (II ii,line 188) Demetrius says, "I love thee not, therefore pursue me not." (II ii,line 194) "Hence, get thee gone, and follow me no more." In III ii, Demetrius after being juiced begins to love Helena. (III ii,line 169-173) Demetrius says, "Lysander, keep thy Hermia; I will none. If e'er I loved her, all that love is gone. My heart to her but as guest- wise sojourned, And now to Helen is it home returned, There to remain." This proves he is a fool, because he is not aware of his changing love for Helena. Helena is a fool because Demetrius does not love her but she still persists in chasing him. Demetrius shows no love for Helena. (II i,line 227-228) Demetrius says, "I'll run from thee, and hide me in the brakes, And leave thee to the mercy of wild beasts." (II i,line 199-201) "Do I entice you? Do I speak you fair? Or rather do I not in plainest truth Tell you I do not, nor I cannot love you?" Demetrius clearly illustrates to Helena that he has no interest, but Helena persists. (II i,line 202-204) Helena says, "And even for that do I love you the more. I am your spaniel; and, Demetrius, The more you beat me, I will fawn on you." (II i,line 220-222) "Your virtue is my privilege. For that It is not night when I do see your face, Therefore I think I am not in the night;" This proves that Helena is a ...

Data Mining essays

Data Mining essays In today's information age, many businesses rely on customer information for survival. Data mining is a relatively new and very important tool in aquiring knowledge on thier customers, spending habbits, geograpphical trends, and more. "Data mining is an information extraction activity which has as its goal the discovery of hidden facts contained within databases." What this means is its automated procedures used to find unknown patterns in order to make likely predictions such as consumer spending habbits. Eric Brethenoux, a research director for advanced technologies at the Gartner Group, is one of many who believes that datamining is a technology in which a company cannot afford to ignored. With present day data mining capabalities, it is now possible to spot trends in data in information companies stored from the past, creating a competative advantage for the company with the most information. The power of datamining lies in the way it does not rely on narrow human queries t o produce results, but instead uses technology developed in the fields associated with Artificial Intelligence. Using artificial intelligence, datamining can produce useful inferences concerning data that human analysts would never see. Data Mining can be used by many companies to find new customers and repeat business to previous customers. As stated before, many businesses rely on this use of data mining for survival. This is very helpful when deciding strategic target marketing. Without it, many businesses may not have enough customers to run a profitable and successful operation. Identifying inefficient operations within the buiness is another use for data mining. The findings pertinant to efficiency can save a wastefull business enourmess amounts of capital. Finding and understanding what is inefficient can be considered the first step towards finding an efficient system or met ...

10 Fascinating, Little-Known Moth Facts

10 Fascinating, Little-Known Moth Facts Moths arent just the dull brown cousins of our beloved butterflies. They come in all shapes, sizes, and colors. Before you dismiss them as boring, check out these 10 fascinating facts about moths.   1. Moths Outnumber Butterflies by a 9 to 1 Ratio Butterflies and moths belong to the same order,  Lepidoptera.  Over 90% of known Leps (as entomologists often call them) are moths, not butterflies. Scientists have already discovered and described well over 135,000 different species of moths. Moth experts estimate there are at least 100,000 more moths still undiscovered, and some think moths actually number half a million species. So why do a few butterflies get all the attention? 2. Most Moths Are Nocturnal, but Many Fly During the Day We tend to think of moths as creatures of the night, but this isnt always the case. Some moths are quite active during daylight hours. Theyre often mistaken for butterflies, bees, or even hummingbirds. The clearwing moths, some of which mimic wasps or bees, visit flowers for nectar during the day. Other diurnal moths include some tiger moths, lichen moths, wasp moths, and owlet moths.   3. Moths Come in All Sizes Some moths are so small theyre referred to as micromoths. Generally, moth families in which the member species measure just a centimeter or two are considered micromoths. But a still undescribed species collected in Africa is likely the smallest moth of all, with a wingspan of just 2 mm. At the other end of the moth spectrum is the white witch moth (Thysania aggrippina), a neotropical species with a wingspan that reaches up to 28 cm, or the size of a dinner plate. 4. Male Moths Have a Remarkable  Sense of Smell Keep in mind that moths dont have noses, of course. An insects sense of smell is essentially its ability to detect chemical cues in the environment, called chemoreception. Moths smell these cues with highly sensitive receptors on their antennae. And male moths are the champions of chemoreception, thanks to feathery antennae with lots of surface area to grab those molecules from the air and give them a sniff. Female moths use sex attractant pheromones to invite potential mates to mingle. Silk moth males seem to have the strongest sense of smell of all and can follow a whiff of female pheromones for miles. A male promethea moth holds the record for tracking a scent through the air. He flew an astounding 23 miles in the hope of mating with the girl of his dreams and was likely disappointed when he realized hed been tricked by a scientist with a pheromone trap. 5. Some Moths Are Important Pollinators We dont often think of moths as pollinators, perhaps because we arent outside in the dark watching them work. While butterflies get all the credit, there are plenty of moths moving pollen from flower to flower, including geometer moths, owlet moths, and sphinx moths. Yucca plants require the help of yucca moths to cross-pollinate their flowers, and each yucca plant species has its own moth partner. The yucca moths have special tentacles with which they can scrape and gather pollen from yucca blossoms. Charles Darwin famously predicted that orchids with exceptionally long nectaries were pollinated by insects with equally long proboscises. Though ridiculed for his hypothesis at the time, he was later vindicated when scientists discovered the Madagascan sphinx moth, an orchid-pollinating species with a 30 cm proboscis. 6. Some Moths Do Not Have Mouths Some moths dont waste time once they reach adulthood. They emerge from their cocoons ready to mate, and content to die soon afterward. Since they wont be around for very long, they can get by on the energy they stored as caterpillars. If you dont plan on eating, theres really no point in developing a fully-functioning mouth. Probably the best-known example of a mouthless moth is the luna moth, a stunning species that lives just a few days as an adult. 7. Not All Moths Eat, but They Are Often Eaten Moths and their caterpillars make up a lot of biomass in the ecosystems where they live. And they arent just empty calories, either. Moths and caterpillars are rich in protein. All kinds of animals feed on moths and caterpillars: birds, bats, frogs, lizards, small mammals, and in some parts of the word, even people! 8. Moths Use All Kinds of Tricks to Avoid Being Eaten When everything in your world is intent on eating you, youve got to get a little creative to stay alive. Moths employ all kinds of interesting tricks to avoid predation. Some are masterful mimics, such as caterpillars that look like twigs and adult moths that blend in with tree bark. Others use startle markings, like the underwing moths that flash brightly colored hindwings to distract pursuing predators. Tiger moths produce ultrasonic clicking sounds that confuse sonar-guided bats. 9. Some Moths Migrate Everyone loves migrating butterflies, like the famous long-distance flights of the North American monarchs. But nobody gives props to the many moths that also migrate, perhaps because they tend to fly at night. Moths tend to migrate for practical reasons, like to find a better food supply, or to avoid uncomfortably hot and dry weather. Black cutworm moths spend their winters on the Gulf Coast but migrate north in the spring (like some senior citizens). Olympic trivia buffs may remember the hordes of migrating Bogong moths that pestered athletes during the 2000 Sydney Olympics. 10. Moths Are Attracted to Light Bulbs, Bananas, and Beer If the previous 9 facts convinced you that moths are pretty cool insects, you might be interested in attracting moths so you can see them for yourself. Moth enthusiasts use a few tricks to lure moths closer. First, many moths will come to lights at night, so you can start by observing the moths that visit your porch light. To see a greater diversity of the moths in your area, try using a black light and a collecting sheet, or even a mercury vapor light. Some moths might not come to lights but cant resist a mixture of fermenting sweets. You can mix up a special moth-attracting recipe using ripe bananas, molasses, and stale beer. Paint the mixture on a few tree trunks and see who comes for a taste. Sources: Australias Bogong moth invasion turns even yawning into a potential health hazard, The Independent. November 4, 2013.Capinera, John L. Encyclopedia of Entomology, 2nd edition.Corcoran, A.J., Barber, J. R., and Conner, W. E. Tiger moth jams bat sonar. Science. July 17, 2009.Cranshaw, Whitney and Redak, Richard. Bugs Rule! An Introduction to the World of Insects.Kritsky, Gene. Darwins Madagascan hawk moth prediction. American Entomologist, Volume 37, 1991.Largest Lepidopteran Wing Span, University of Florida Book of Insect Records, April 17, 1998.  Moisset, Beatriz. Yucca Moths (Tegeticula sp.). US Forest Service website.Smallest Moth in the World?, UC David Department of Entomology and Nematology website, June 29, 2012.Status of Pollinators in North America, by Committee on the Status of Pollinators in North America, 2007.Waldbauer, Gilbert. The Handy Bug Answer Book.

Introduction to Accounting and finance -- Economics, Finance and Assignment - 4

Introduction to Accounting and finance -- Economics, Finance and Management - Assignment Example They may buy from either U.K or South America depending upon the option which will help them to increase the cash flow. Profit is generated from the sales figure and the purchase figure taking the expenses into consideration. It may be operating or non-operating expenses in nature. We consider both cash sales and credit sales for the particular period and purchases both in cash and credit. But expenses are deducted which are made only during that particular period and not which are advance in nature. The sources available for financing are basically internal sources and external sources. Internal sources are those from where we can get finance like that of the equity option for raising funds from the equity holders or issuing new equity shares to existing or new prospects. Since, Hidetoseek Ltd’s old supplier is in U.K. a mutual trust and a relationship is well build up. Now if they switch over to South America the company needs to build the same relationship and trust but it will require a lot of time to adjust. But looking at the current position of the company’s cash flow statement it is not wise enough to go for new relationship as cost is associated with it. New terms with new supplier regarding the credit facility, credit period, cash discount, trade discount may create a problem for the management in operating. Present situation of cash flow is not good and taking such risk might adversely impact on managing cash.The work culture, perception of the new suppliers towards the company need to be analyzed and build a relationship according to it which requires considerable time New set up for transportation needs cash which will ultimately effect the cash flow statement which is not in a good position. Delivery on time may get affected as new suppliers may not understand the importance of Just-in-Time delivery concept. The question of quality may be in danger. Quality control is very important

Buddhism Essay Example | Topics and Well Written Essays - 1000 words - 1

Buddhism - Essay Example The Noble Truths refer to essential realizations Siddhartha Guatama is believed to have attained on his path towards spiritual enlightenment. They demonstrate a spiritual concern with the resistance of material longing, the cessation of suffering, and how to apply Siddhartha’s teachings to help achieve the highest good. This essay examines the highest good humans can achieve in regards to Buddhist thought and considers whether I agree with this as an ideal. Buddhist philosophy argues in that in achieving the highest good individuals should accept suffering as an indelible part of the human condition (Humpherys 53). Buddhism argues that the positive value of life isn’t diminished by the truth of suffering, but by acceptance of life’s evanescence the human attains a higher degree of good (Davids 165). The Buddhist path to enlightenment has an answer to the problem of suffering. The Buddha found that when we experience happiness and joy, it is our spiritual duty to objectively remove ourselves from these experiences and become consciously aware of their impermanence. Buddhist philosophy contends that the human experience of joy and happiness is merely a reaction to a circumstance and not a permanent mental state. The very structural nature of happiness then includes the binary existence of unhappiness – the two are inseparable; therefore, even as happiness is impermanent, so is suffering. Ultimately, it’s believed that in recognition and acceptance the suffering, the human achieves a more relaxed mental state that leads to their realizing the highest degree of good. Another Buddhist element related to achieving the highest good is the belief that since suffering is a result of material longing and desire by eliminating material longing and desire, one can eliminate suffering and move towards achieving this highest good. While this is a simple formulation, the actual challenge of eliminating desire is extremely difficult. Craving can also be extended to include the gratification of the passions, or the longing we have for an abstract sense of accomplishment of success in our earthly lives. The Second Noble Truth states that if we persist in allowing our lives to be dominated by desire and ignorance we will always be haunted by an unachievable longing and pervasive suffering. Therefore, the Buddha states that to achieve the highest good one must be guided by what is, not what is desired. One must fight against their preconditioned ways of longing and desire and accept the world and their place as it currently exists, as this is the only path to the highest good. In following these Noble Truths the individual is able to achieve the highest good, or Nirvana. This is a spiritual state that transcends all traditional concerns with material existence. In considering these means of achieving the highest good I recognize that I generally disagree with this ideal. To begin with, I disagree with the idea that all of l ife is suffering, as one might argue that such a characterization of the human condition is overly pessimistic. When Buddha developed the Four Noble Truths the Indian people faced considerable difficulties in life. Their subsistence was harder earned than we experience today, and I believe that this element of Buddhist philosophy can be seen to be a response to this challenge of existence, rather than an accurate reflection of the human condition. While all humans experience suffering, to claim that this is one

International business law Assignment Example | Topics and Well Written Essays - 3000 words - 1

International business law - Assignment Example Every citizen of a state has certain duties towards the state and in the interest of the society as a whole, the state prescribes certain norms of conduct that bind all members of the state upon which it has a jurisdiction to punish a person who transgresses against these (Kleyn & Viljoen 2002). A good example of a criminal offence is theft which is unlawful taking of something that does not belong to you. The sole purpose of theft law in this case is to prevent interference with property rights. As far as criminal law is concerned, the state is part of the proceedings against the accused person. Criminal law is seen as an effective way of dealing with certain conducts which are deemed wrongful and violate the prescribed norms in society. In the case of the United States Court of Appeals Tenth Circuit (2007), the defendant Juan Carlos Elizade has been convicted as an â€Å"aggravated felony† for joyriding and was subsequently sentenced to a one year suspended sentence. Thus, cases with the intent of temporarily depriving the owner of his property rights constitute a criminal offense. On the other hand, civil law is different from criminal law in that it constitutes private law which specifically deals with legal relationships between subjects (Kleyn & Viljoen 2002). The subjects in civil proceedings are relatively on the same footing with each other and the state only acts as an arbiter. Civil cases often involve family law, tort or contract laws. In a civil case, it is the plaintiff versus the defendant while in a criminal case it is the state versus the accused. The parties to a civil case decide whether they want to initiate proceedings while in a criminal case, the state initiates prosecution. The definite difference between a criminal and civil case is that the aim of criminal law is to punish the subjects threatening order and harmony in society while in contrast, the aim

Choose a recently published policy compare to What we have learned( Research Paper

Choose a recently published policy compare to What we have learned( Roman Republic, French absolutism, French Revolution) - Research Paper Example The transformation was done through a series of civil wars. The wars were between the patricians and the ordinary Romans who were not from famous families. The policy of balanced distribution of power led to the weakening of the patrician’s power to run big government offices as bound by the law. During this period, the Roman constitution was also amended to accommodate republican form of government. The Roman republic extended due to the many alliances from Italian peninsula and central Italy as well as conquests (Holkeskamp. 47). New laws and policies that prevented individuals from obtaining permanent political powers were established. The political system became free and democratic as the constitution prevented political supremacy among individuals but supported political ideologies. This is because Rome was undergoing a political transition thus the new government system needed ideas to establish peace, political stability and development. Roman Republic was forced to ada pt to the new constitution, which was designed to promote republican form of government. After the transition, the Roman Republic introduced a set of guiding principles, which acted as a new set of policies that would ensure civilized leadership. In the new constitution, the government was divided into three sections. ... The new system of government portrayed a practice of democracy as powers were centralized in the three branches of government, which was made by a set of elected representatives from all parts of the Roman Republic. However, the republic system of government was corrupted by dictatorship rule, which led to its collapsing. Absolutism is a monarchical form of government that gives the monarch great powers and is given much reverence. However, the powers of a monarch are limited to by the need of support from the aristocracy. The aristocracy provides the monarch with political and military support thus may challenge the authority from time to time. Absolutism system of governance was associated with King Louis XIII and Louis XIV of France. This form of rule centralized powers to the monarch who was given unlimited powers by the divined law. In this case power was confined to one person who had the rights to regulate as well as change the political system and make decisions. This form of rule is prone to was as a country using absolutism can descend into a civil war after its collapse. In the French absolutism, the king’s word was considered to be law. Most of the revenue is collected and managed by the army. The French monarchy depended on farming and Agriculture as the main economic activities. In this case, farmers were taxed heavily in order to maintain the economy of the monarchy. The absolutism form of government was mainly focused on dictatorship as the ruler was granted the powers to do as he or she pleased by the law. Absolution also used natural laws which were affiliated to cultural practices thus could not create room for modern

Case Study Report Essay Example | Topics and Well Written Essays - 3000 words - 2

Case Study Report - Essay Example Multinational companies have realised that human resource management is important as it provides global strategies that would help in managing the workforce, thus gain success and a significant market share in foreign countries (Shah et al. 2012: 28). This paper will explore globalisation and internationalisation of business firms, the structures and strategies of multinational companies and how they influence human resource management. Globalisation is a concept that has been in existence for many years. Multinational corporations emerged as a result of globalisation. In order to ensure that their businesses run smoothly, multinational corporations have developed different strategies in line with their different structures. These strategies influence human resource management to carry out different activities regarding to the recruitment, selection, training and performance of the workforce. These strategies bring some benefits and limitations to the organisation. This paper will discuss the preceding issues relating to multinational corporations and human resource management (Barber and Alegre, 2010: 11). The term globalisation has different meanings in reference to different contexts, and in this situation it refers to the quick, uninterrupted inter-border flow of technology, services, money, information, goods, ideas, and cultures all over the globe. Through globalisation firms are able to operate in many countries, utilising local and foreign labour, capital and technology, marketing, management skills and therefore, becoming Multinational corporations. Firms internationalise to look for markets, exploit firm-specific advantages and to gain access to various factors of production, labour being a key factor. Multinational corporations utilise local and foreign work forces, therefore, require an effective human resource management that will successfully manage the workforce and ensure productivity. Multinational

Early years in the uk context Essay Example | Topics and Well Written Essays - 1000 words

Early years in the uk context - Essay Example (Shaw, 2010) The article tries to find the factors which are responsible for these choices and how the choices of working class parents differ from middle class parents. The authors have used interviews as the research methodology in trying to answer this question. The authors believe that the way in which choices are made by the working class and middle class parents make choices further produces inequities. (Carol Vincent, 2010)They also differentiate in the way these choices are made and the factors which are considered before making the choices. In conclusion the authors claim that working class families give importance to the known , familiar and trusted sources for choosing childcare whereas middle class families were more open to childcare centres which may be lesser known to them. The overarching concern for the working class parents is shown as safety for their kids whereas the middle class parents do not care much about the safety -they consider it as a given. Their main fo cus is on the environment the child is provided with and his personal development. The authors also show how economic status of the families makes them perceive and experience the child care markets in a different way. (Carol Vincent, 2010) The very first analysis which comes to the mind of this article is the research methodology which is used. ... This may have left out a large section of the population which may not indulge in such a large amount of research to choose childcare as is shown in the article. (Kumar, 2008) Thus general assumptions about middle class and working class attitudes to childcare cannot be made from such an unrepresentative sample. The second problem is that of false responses. (Kumar, 2008) It is a well known fact that what people actually do differs a lot from what they say in interviews. The results would be much more reliable if interviews were followed by observations of behaviour. The third problem is acknowledged by the authors but they fail to mention how they countered it. This is the problem of interviewer bias. As interview was conducted by white middle class females; the responses of working class mothers could suffer from a bias towards the interviewer. Also the interviewer may have interpreted the response in a way which is completely different from what the working class parents intended to. (Patel, 1964) The authors claim in their article that middle class parents are the more informed consumers in the child care market. They research a large number of options before settling on the childcare. As opposed to this working class parents are shown to be less aware and less informed about the options that they have. However the authors do not stop at telling the behaviour but also try to identify the reason for the behaviour and the reason that they have identified is spot on and absolutely right. The choices in childcare market are available only to those who have money to shell out. (Leach, 2009) .Although the problem of expensive child

Case Study Report Essay Example | Topics and Well Written Essays - 3000 words - 2

Case Study Report - Essay Example Multinational companies have realised that human resource management is important as it provides global strategies that would help in managing the workforce, thus gain success and a significant market share in foreign countries (Shah et al. 2012: 28). This paper will explore globalisation and internationalisation of business firms, the structures and strategies of multinational companies and how they influence human resource management. Globalisation is a concept that has been in existence for many years. Multinational corporations emerged as a result of globalisation. In order to ensure that their businesses run smoothly, multinational corporations have developed different strategies in line with their different structures. These strategies influence human resource management to carry out different activities regarding to the recruitment, selection, training and performance of the workforce. These strategies bring some benefits and limitations to the organisation. This paper will discuss the preceding issues relating to multinational corporations and human resource management (Barber and Alegre, 2010: 11). The term globalisation has different meanings in reference to different contexts, and in this situation it refers to the quick, uninterrupted inter-border flow of technology, services, money, information, goods, ideas, and cultures all over the globe. Through globalisation firms are able to operate in many countries, utilising local and foreign labour, capital and technology, marketing, management skills and therefore, becoming Multinational corporations. Firms internationalise to look for markets, exploit firm-specific advantages and to gain access to various factors of production, labour being a key factor. Multinational corporations utilise local and foreign work forces, therefore, require an effective human resource management that will successfully manage the workforce and ensure productivity. Multinational

Comparison Thoughts Essay Example | Topics and Well Written Essays - 500 words

Comparison Thoughts - Essay Example CONTEST is the UK government’s strategy for responding to the threat of terrorism. Basically, the strategy focuses on countering the aspirations of terrorists in using â€Å"chemical, biological, radiological, and nuclear weapons (CRBN)†. According to The Home Office (2010), CONTEST works with the 4Ps strategy which involves preventing, pursuing, protecting, and preparing for terrorist attacks. Essentially, the strategy aims at preventing people from becoming terrorists and extremists, pursuing and stopping people with terrorist intentions, protecting people from terrorist attacks, and preparing for actions to be taken in case of an attack. In the United States, the Chemical and Biological Defense Program (CBDP) under the Department of Defense is the organ charged with countering CRBN attacks. According to Department of Defense (2013) the principle focus of the CBDP is on preventing, protecting, mitigating, responding, and recovering from CBRN threats. The key strategies are to equip the war fighter with necessary preventive and protective skills, counter imminent threats, and maintain infrastructure for countering these threats. However, unlike CONTENT, the CBDP focuses most of its efforts on protecting the war fighter and then the nation, while the former focuses on the protection of the civilians (Department of Defense, 2013). In this sense, the CBDP should try and emulate CONTENT and focus more on civilians’ safety. In order to succeed in the 4Ps strategy, CONTEST collects current intelligence on probable attacks and assesses the level of terrorism risk and the vulnerability of the country to such attacks. The intelligence collected also helps CONTEST in tracking down terrorist organizations and their intentions to use CRBN materials on people. Consequently, security agencies pursue and neutralize such threats. In the United States, the CBDP uses bio-surveillance to collect data

Thought and Language

Thought and Language In the field of linguistic theory, the relation between thought and language is still an emerging topic of discussion. Different linguists and psychologists stand on different views and continued their argument to define this relation whether they are interdependent or independent. Broad categories of views are present and converging theories are yet to be gained. The two extreme thought school concerning the relationship between language and thought are commonly referred to as Mould theories and Cloak theories. According to the mould theory, language constructs our thought and they are interwoven in such a way that all people are equally being affected by the confines of their language. People can be considered as mental prisoners as they are unable to think in any other way which the language he speaks does not support. The cloak theory casts a different view and described language as a cloak conforming to the customary categories of though of its speaker. In this theory, language considered only as a media to express our thoughts just like the way we can use our physical movement to represent what we are feeling. Language do not control our way of perceiving things and we imagine our world in the way we like to. There is also a middle stand between this two which also popular in the linguistic theory. Without following the extreme, this view explains that language and thought is related but a flexible sense. Sometimes language drives our thought process and again sometime we construct the language with our thoughts. The Sapir-Whorf Hypothesis, named after the American linguist Edward Sapir and Bejamin Lee Whorf is classified as mould theory of language. In 1929, Sapir presented his belief that the possible range of human behavior is controlled by the language he speaks. It is totally dependent on the vocabulary exist in the specific language we are part of. This hypothesis is known as the strong form of Sapirs Hypothesis. It also mentioned that as different languages have different structures, barrier free communication between cross-cultural groups is impossible as they will never able to think in the same way as they are bounded by different language. After reviewing the two extreme theories of linguistic reality, I stand somewhere between the two .I think, the Sapir-Whorf Hypothesis cannot be totally denied but cannot be accepted fully. There are numerous arguments which support Sapir and also cross out the hypothesis. With a deep analysis of the different views and considering the examples from real world around me, I came to the conclusion that the relation between the language and thought is a continued process. Language instructs our thought and we often directed by the way our language constructs perceive the world. For example, in our country when we say the word Pohela Boishakh, it automatically spells a magic of festivity in everyones mind. It is the Bengali New Year and now this language construct evolved in such a way that it is now motivating the thought process of the people of our country. We are getting bound to think by this word. But it is also true in the other way around. The creative minds come out with thousan ds of innovative ideas and directing the language evolution. People growing up in the same surrounding and speaking the same language can possess different thoughts and communicate different ideas which contradict with Sapirs Hypothesis. So, I am more influenced by the theory that language and speech can be though of as two intersecting circles. In their overlapping parts, thought and speech coincide to produce what is called verbal thought. Verbal thought, however, does not by any means include all forms of thought or all forms of speech. There is a vast area of thought that has no direct relation to speech. The thinking manifested in the use of tools belongs in this area, as does practical intellect in general. Furthermore, investigations by psychologists of the Wrzburg School have demonstrated that thought can function without any word images or speech movements detectable through self-observation. While discussing about the topic with my group mates Dana Satriya and Sharad, I encountered different fabrics of thought in them. Dana came from Indonesia and Sharad from India. In Danas opinion thought is an act of verbal. He seems to support Sapirs Hypothesis and mentioned that we the media informatics students came from different parts of the world. Though in Germany, we can be considered as a community but we have distinct thought process and it will eventually act as a barrier while we communicate with each other. And this distinct thoughts are somewhat influenced by the different language constructs we belong to. In some stage, I will not be able to express my inner feelings to Dana in a full sense as his language construct does allow him to think and follow my thoughts. Sharad being as an Indian got an opportunity to experience wide range of cultures and community in his country. He also agreed that language has some influence over the people as he has seen different concepts and views among the people using different language. In my opinion, it is necessary to take into account the close relationship which exists between language and thinking. Most commonly accepted idea about language and speech is that they are the way of expressing the internal thought process of an individual. People express what they feel with the means of language and speech. However, the construction of language is not evolved in a uniform way among all the people. Living in different context makes people from different parts of the world to perceive reality in different manner. The social and environmental context influence their way of living and thought. Due to perceiving the context in different ways, their use of words depends on that particular context. From generation to generation, the language is evolved while keeping the relation with social reality. As an example, in my country, Bangladesh, the landscape is flat and people live on farming. Therefore, large part of the thought process is based on the agricultural activitie s and have special part of language constructs generated to explain this process. Eventually, the new generations grow up with the special language constructs related to agriculture which influence their thought process according to Sapir-Whorf hypothesis, describing the process of language influencing the thought process. However, I think it is not in that strong way according the hypothesis that language constructs the thought. It is clearly evident that Sapir-Whorf hypothesis was built on a partially viewed concept. Whorf analyzed several examples of Native American Language, Hopi, to support his hypothesis, which state that thought is strongly based on language. According to Whorf, the Hopi language does not contain any words, grammatical constructions, or expressions that refer to the English concept of time. He goes on to explain that it is possible in the Hopi language to express the world or reality in ways other than what many languages refer to as time. The Hopi view of reality is specific to the language and can only be best expressed if one is familiar with the language. In this example where Whorf feels language strongly influences thought, he is often criticized with circularity because he infers cognitive differences between two speakers from an examination of their respective languages, (Hopi and English). His proof of cognitive differences is only based on reiteration of the linguistic differ ences. But several other studies were done which supports the hypothesis including the research on perception of color in English compared with a small tribe from Papua New Guinea called Berinmo. However, I personally contradict to some extent with the basic idea of Sapir-Whorf Hypothesis. It is not entirely ignorable that language has some influence on the thought process, although it is not the only mean which drive our thoughts. It can only be considered a little part of a much bigger paradigm. As an example, we can consider the example of infants, who is yet to talk. However, it is widely accepted that children go through thought process before they even learn to talk. According to Piaget, every child has two different thought processes which are directed and undirected. Piaget says, Directed thought is conscious, i.e., it pursues an aim which is present to the mind of the thinker; it is intelligent, which means that it is adapted to reality and tries to influence it; it admits of being true or false (empirically or logically true), and it can be communicated by language. Autistic thought is subconscious, which means that the aims it pursues and the problems it tries to solve are not present in consciousness; it is not adapted to reality, but creates for itself a dream world of imagination; it tends, not to establish truths, but to satisfy desires, and it remains strictly individual and incommunicable as such by means of language. On the contrary, it works chiefly by images, and in order to express itself, has recourse to indirect methods, evoking by means of symbols and myths the feeling by which it is led. Therefore, this autistic thought is not influenced by languages and is evolved separately by the complex mental process. Same inference can be drawn for the physically retarded groups who can not speak and hear, but have their own thought process development of which is not blocked by any linguistic constructs. Language is not the driver of thoughts but thought can eventually result in language. Poets and laureates often enrich us with new and innovative language constructs to materialize their thoughts. So, in this case they are generating language with their thoughts. But there is always the other side of the coin. Language often acts as the catalyst for thought. If someone says a bitter word in a language which I dont know, it will not affect me. But if I am familiar with the word, it will certainly scatter some effect on my thought process and I will react over it. So, there are obviously many thought processes in individual which can only be motivated and initiated by the linguistic reality and not in any other way. In this context we can refer to George Lakoffs argument that language is often used metaphorically and that different languages use different cultural metaphors that reveal something about how speakers of that language think. For example English employs metaphors linkening time with money, whereas other languages may not talk about time in that fashion.So absence of language construct inhibiting the way of their thinking about time in the same way as English people do. So, the basic idea we infer from the above discussion that language and thought continuously move back and forth from thought to language and language to thought. Language helps us to think with a specific point of view and thought again develop the language. And thought is not only being expressed in words, it also comes into existence through them. Every thought relates one object to another and it moves, grows and develops, executes function and solves problem. This flow of thought occurs as inner movement which can be based on language and can also be without language. Bibliography Lev Vygotsky (1986) Thought and Language (newly revised and edited by Alex Kozulin) Ekkehart Malotki (1983) Trends in Linguistics Studies and Monographs 20 Hopi Time Thomas Tsoi The Relation between Language and Thought http://en.wikipedia.org/wiki/Linguistic_relativity http://www.mnsu.edu/emuseum/cultural/language/whorf.html http://www.aber.ac.uk/media/Documents/short/whorf.html http://www.angelfire.com/journal/worldtour99/sapirwhorf.html http://www.usingenglish.com/speaking-out/language-thought-sapirwhorf.html http://www.learningandteaching.info/learning/piaget.htm !Content ends here!>

Canterbury Tales - Linking Griselda of The Clerks Tale to the Biblical

Linking Griselda of The Clerk's Tale and the Biblical Sacrifice of Abraham      Ã‚  Ã‚   The Clerk's Tale seems to strike most readers  as a distasteful representation of corrupt sovereignty and emotional sadism; few can find any value in Walter's incessant urge to test his wife's constancy, and the sense that woman is built for suffering is fairly revolting to most modern sensibilities. Nevill Coghill, for instance, described the tale as "too cruel, too incredible a story," and he notes that "even Chaucer could not stand it and had to write his marvelously versified ironic disclaimer" (104-5). It seems, however, even more incredible that a great poet should bother composing a tale for which he himself had little taste; that is, there must be some point, however strange, to the ordeal of Griselda. One of the words Chaucer frequently uses to describe her character is sadness. The word obviously had a very different meaning in fourteenth-century England from what it has today: In Chaucer it does not denote a depressed moral or psychological sta te, but a way of reacting to events which takes them thoroughly seriously without letting them disturb one's internal composure. This kind of sadness can best be understood in terms of the biblical models Griselda follows. She explicitly echoes the Stoic resolve of Job when she declares, "Naked out of my fadreshous, ...I cam, and naked moote I turn again" (871-2) [this quote needs a / to show line breaks and should use spaced periods with square brackets for ellipses]. But the allusions to Job may momentarily throw the reader off the trail of an even stronger biblical model: the story of Abraham's sacrifice of Isaac   Ã‚  Ã‚  Ã‚  Ã‚        Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   The affinities b... ...ch the "intoxicated security of the flesh" (in   Ã‚  Ã‚  Ã‚  Ã‚   Calvin's phrase), puffed up in its own satisfaction at an unbroken system   Ã‚  Ã‚  Ã‚  Ã‚   of moral debts and repayments, is negated by the knowledge of an   Ã‚  Ã‚  Ã‚  Ã‚   intractable sinfulness, and in which all human activity turns out to have   Ã‚  Ã‚  Ã‚  Ã‚   been an anguished cry for forgiveness.  Ã‚  Ã‚  Ã‚     Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚     Ã‚  Ã‚  Ã‚  Ã‚   Works Cited:      Ã‚  Ã‚  Ã‚  Ã‚   Benson, Larry. Ed. The Riverside Chaucer. Boston: Houghton Mifflin Co.,   Ã‚  Ã‚  Ã‚  Ã‚   1987.      Ã‚  Ã‚  Ã‚  Ã‚   Chaucer, Geoffrey. The Clerk's Tale.The Riverside Chaucer.Ed. Larry    Benson. Boston: Houghton   Ã‚  Ã‚  Ã‚  Ã‚   Mifflin Co., 1987. 137-53.      Ã‚  Ã‚  Ã‚  Ã‚   Coghill, Nevill. The Poet Chaucer. London: Oxford University Press, 1967.   Ã‚  Ã‚  Ã‚  Ã‚     Ã‚  Ã‚  Ã‚  Ã‚   Kierkegaard, Sà ¸ren. Fear and Trembling.Trans. Walter Lowrie. Princeton:   Ã‚  Ã‚  Ã‚  Ã‚   PrincetonUniversity Press, 1941.

The Collector :: essays research papers

Macbeth Essay   Ã‚  Ã‚  Ã‚  Ã‚  Ã¢â‚¬Å"False face must hide what the false heart doth know.† (I, vii, 82) The quote above signifies him being pushed and pushed into things that were intended for him to accomplish, although these actions creates a world of death and revenge. Macbeth was a victim of his own ambition. In Macbeth tragedy strikes upon Macbeth and causes him to lose his own life in order to live another. Macbeth is not a sympathetic character in that man can control his own destiny and that being pushed into some decision can cost either their life or someone else’s.   Ã‚  Ã‚  Ã‚  Ã‚  In the play Macbeth one does not feel sympathetic for Macbeth. He controls his own destiny and lives a life of one man, himself. Rather accepting what he has, Macbeth gets greedy and wants it all. One can not feel sympathetic if the best way to get something is to kill that person or to kill the family of that person. He does change though at the end of the play. One can feel sympathetic for him at the end, when knowing that all hope has come to an end, he fights for something else than himself. He fights till the death but loses at the end. Also one can feel for him because of many nagging things going on in his head, including his wife and the three witches. Knowing the thought that he can become king, Lady Macbeth influences Macbeth to many things that soon cause a great deal of pain and suffering. â€Å"If you can look into the seeds of time and say which grain will grow and which will not, speak then to me.† (I, iii, 59-60) The quote is from Banquo who states if the witches can look into the future then tell him of what happens in the next coming. Macbeth has some control over his own destiny. He soon learns that from the witches foretelling him of his future. He learns that not only will he become Thane of Cawdor but also King. His â€Å"destiny† is soon thrown into the hands of Lady Macbeth, who in many people’s eyes believes she is the controller of Macbeth. Macbeth’s own actions show that he can control his own destiny. He could have never killed King Duncan, but pressure from his wife and the future telling him that he will be King seduces Macbeth into wanting more than what he has.

Logistic

1. Consider the supply chain for a domestic automobile. a. What are the components of the supply chain for the automobile? b. What are the different firms involved in the supply chain? c. What are the objectives of these firms? d. Provide examples of conflicting objectives in this supply chain. e. What are the risks that rare or unexpected events pose to this supply chain? a. b. c. d. e. Pick any car model manufactured by a domestic auto maker.For example, consider the 2002 Ford Thunderbird. a. The supply chain for a car typically includes the following components:: 1. Suppliers for raw materials 2. Suppliers for parts and subsystems 3. Automobile manufacturer (Ford, in the example). Within a company, there are also different departments, which constitute the internal supply chain: i. Purchasing and material handling ii. Manufacturing iii. Marketing, etc. 4. Transportation providers 5. Automobile dealers b. Many firms are involved in the supply chain. 1. Raw material suppliers. For instance, suppliers for steel, rubber, plastics, etc. 2. Parts suppliers. For instance, suppliers for engines, steering wheels, seats, and electronic components, etc. 3. Automobile manufacturer. For instance, Ford. 4. Transportation providers. For instance, shippers, trucking companies, railroads, etc. 5. Automobile dealers. For instance, Hayward Ford. c. All companies involved in the supply chain want to maximize their respective profits by increasing revenue and decreasing cost. However, companies may employ different strategies in order to achieve this goal.Some of them focus on customer satisfaction and quick delivery, while others may be more concerned about minimizing inventory holding costs. d. In general, different parts of the supply chain have objectives that are not aligned with each other. 1. Purchasing: Stable order quantities, flexible delivery lead times and little variation in mix. 2. Manufacturing: Long production runs, high quality, high productivity and low pr oduction costs. 3. Warehousing: Low inventory, reduced transportation costs and quick replenishment capability. 4. Customers: Short order lead times, a large variety of products and low prices. e.Typically, the automobile dealer would like to offer a variety of car colors and configurations to accommodate different customer preferences, and meanwhile have a short delivery lead time from the manufacturer. However, in order to maximize the length of production runs, and utilize resources more efficiently, the manufacturer would like to aggregate orders from different dealers and offer less variety in car configurations. This is a clear example of conflicting marketing and manufacturing goals. ———————– 2. Consider a consumer mortgage offered by a bank. a. What are the components of the supply chain for the mortgage? . Is there more than one firm involved in the supply chain? What are the objectives of the firm or firms? c. What ar e the similarities between product and service supply chains? What are the differences? a. b. c. a. The supply chain for a consumer mortgage offered by a bank may involve various components. 1. Marketing companies that handle solicitation to potential customers. 2. Credit reporting agencies that evaluate potential customers. 3. The bank that extends the mortgage loans. 4. Mortgage brokers through which the loans are distributed. . The marketing companies strive to increase the response rate from homebuyers in order to maximize their returns. Banks aim at a customer portfolio with a relatively low risk, healthy flow of payments and low average loan maturity date. The brokers would like to maximize their sales commissions. c. Similar to product supply chains, the objective of a service supply chain is to provide what is needed (in this case, a particular type of service, rather than a physical product) at the right location, at the right time, and in a form that conforms to custom er requirements while minimizing system wide costs.However, there are a number of differences between the two types of supply chains. For instance: 1. In a product supply chain, there is both a flow of information and physical products. In a service supply chain, it is primarily information. 2. Contrary to a service supply chain, transportation and inventory are major cost components in a product supply chain. 3. Services typically cannot be held in inventory, so matching capacity with demand is frequently more important in a service supply chain. 4.In a service supply chain, the (explicit) cost of information is higher than in a product supply chain. Note that in the mortgage example above, the bank has to compensate the credit reporting agency for each credit report it obtains. ——————————————————- 3. What is an example of a supply chain that has evolved ove r time? Many supply chains evolve over time. For example, consider a memory chip supply chain. Production strategies may change during different stages of the product life cycle.When a new memory chip is introduced, price is high, yield is low, and production capacity is tight, and the availability of the product is important. Consequently, production is usually done at plants close to markets, and the management focuses on increasing yield, reducing the number of production disruptions, and fully utilizing capacity. When the product matures, however, its price drops and demand is stabilized for a period of time, so minimizing production cost moves to center stage. To reduce costs, production may be outsourced to overseas foundries, where labor and materials are much cheaper.