Slaughterhouses Wastewater Treatment Plant - 584 Words

The influent, after screening and decanting is stored to the flow and organic load equalization tank and then inflows at a rate of QF = 80m3 d-1 to the SNdN activated sludge system. The SNdN system actually functions as an autonomous treatment plant where oxidation of organic pollutants, nitrification/denitrification and suspended solids sedimentation are taking place. Furthermore a sludge recycling from the secondary clarifier to the aeration tank is performed so as to ensure the required microbiological load (5000 Â ± 450 mg L-1). The aeration tank of the SNdN activated sludge system operates under low D.O. concentration (between 0,2 to 0,7 mg L-1). According to Mercalf and Eddy (2003), under low D.O. concentration conditions, low nitrification rates result, as the activated sludge floc will be partially aerobic. Denitrification occurs in the anoxic zones within the floc particles due to oxygen depletion. These conditions results nitrogen removal in a single aeration tank, referre d as simultaneous nitrification and denitrification (Mercalf and Eddy, 2003). In such systems, although usually both nitrification and denitrification are occurring at low rates, relative high SRT and HRT values achieves significant nitrogen removal (Mercalf and Eddy, 2003). The SRT and HRT values of the SNdN system studied are 29 and 0,75 days respectively. Subsequently the overflowing effluent of the SNdN system is then transferred for further treatment in the PCMAS part of the WWTP. The PCMAS is

U.s. Automaker s Environmental Outlook - 861 Words

The U.S. Automaker’s Environmental Outlook The U.S. automobile industry (hereinafter referred to as the â€Å"Industry†) represents 3% of America’s Gross domestic product (GDP) and almost 5% of the country’s workforce. The Industry has made huge gains since the Great Recession (2007-09), with domestic sales topping US$570 billion in 2015, the highest in fifteen years. Exports of vehicles and parts generate more revenue than aerospace. Current capacity produces over eleven million vehicles annually (AAPC, 2015). This paper looks at the environmental challenges facing Detroit s â€Å"Big Three† (i.e., Ford, General Motors, and Fiat Chrysler), America’s three largest automakers, who compete alongside European and Asian car manufacturers, many of whom build their vehicles in the United States. Environmental Factors The Industry faces global competition, restrictive environmental regulations, and a millennial customer base that demands corporate social responsibility (CSR) and the Internet of things connected to their vehicles. Historically low fuel costs in the U.S. drive larger vehicle sales, and at the same time, environmental concerns necessitate putting more electrically powered cars on the road. Above all is market pressure to deliver quality, which builds a brand, creates a following, and saves automakers future warranty repair costs. Below, some of these environmental forces are examined. Political At the forefront challenging the Industry is the growing body of evidenceShow MoreRelatedThe Auto Industry : A Global Economic Powerhouse And Juggernaut Of Cultural Influence1051 Words   |  5 PagesSince it’s inception in the 1900’s, the auto industry has become a global economic powerhouse and juggernaut of cultural influence. In recent decades, the industry has faced various crises and yet has remained one of the most powerful drivers of global economic activity. In the U.S. alone, 1 in every 22 jobs derives from the auto industry (Cutcher-Gershenfeld, J., 2015, para 1). Generally speaking, industry analysts are optimistic about the U.S. market and less so in other markets (Strategy, 2015Read MoreTesla Motors, An Electric Power Train And Car Manufacturer1072 Words   |  5 Pageswith the rise of environmental concerns. Company has a limited amount of direct competitors - the current direct competition includes all major luxury car manufacturers, plans for a sub-$ 40,000 electric vehicle potentially expand the direct competition to the entire automobile industry. (Ex.: Ford Motor Company, GM Corporation, etc.). Tesla’s market share is 1, 13% in Automotive sales in the U.S. which is not that much. In order to justify valuation it had to capture 14% of U.S. market share. 4Read MoreEnvironmental Issues Facing Automobile Industry1071 Words   |  5 PagesENVIRONMENTAL ISSUES FACING AUTOMOBILE INDUSTRY IN AMERICA The development of automobile industry in America started in 1896, when Henry Ford built the first American car. With the invention of the automobile and the mass production techniques of Henry Ford, which made the cars affordable, the American economy has been transformed by this key element in its prosperity. Tens of thousands of jobs were created as the industry grew. Workers were required for the assembly lines on which they were constructedRead MoreAutomotive Industry Analysis in the Us13024 Words   |  53 Pagesautomobile manufacturing and we are all mechanical engineering graduate students. Analysis Methodology: The report begins with a historical overview of the automotive industry. This is followed by an analysis of the industry s structural characteristics using Porter s 5 Forces Model as a framework, which provides an understanding of the automotive industry as a whole in its current state. Next, ten representative companies of varying sizes are analyzed and compared; the chosen companies andRead MoreVolkswagen, The Worlds Best Selling Automotive Oem1744 Words   |  7 PagesVolkswagen (VW), the world s best-selling automotive OEM, has been caught in a vehicle emissions scandal of unprecedented proportions. At least 11 million diesel-powered VW cars worldwide use a specially-coded piece of software to purposefully cheat during emissions testing. The result is that VW s diesel cars appear sufficiently clean to government regulators – enough to be eligible for sale – but when consumers drive their cars in the real world, the vehicles software switches the engines Read MoreToyota Hybrid Cars and Legal Issues2620 Words   |  11 Pagespublic and the government because of the many serious allegations and lawsuits brought against the Company. This paper will examine the first mover advantage of Toyota got by launching Prius. The initiatives undertaken by Toyota to bring their envir onmental friendly hybrid into the market will be discussed. Additionally, we will point out the many legal issues Toyota currently facing in the marketing environment. These issues will be analyzed and discussed in further detail such as: (1) intellectualRead MoreCar Dealers4365 Words   |  18 Pages..........14 CONCLUSION............................................16 REFERENCES............................................17 BIBLIOGRAPHY..........................................18 EXHIBITS 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13. 14. 15. 16. U.S. Car Sales For Major Manufacturers (1973 - 1983) Number of Dealerships VS. Principles(1979 - 1989) Breakdown of Total Sales Net Profit as a % of Sales Gross Profit as a % of Sales Now Car Sales - Hamilton County Ohio Sweat Mountain News Break StatsRead MoreA Outlook Into The Future Of Autonomous Vehicles1415 Words   |  6 Pagestrends in autonomous vehicles, projection of growth as a ratio of GDP among other measures, and policy change s needed for the progress of this innovation. It concludes with a promising outlook into the future of autonomous vehicles. SAE International (formerly known as the Society of Automotive Engineers) in the U.S. has developed a carefully-formulated set of definitions of the various levels of automation, which are becoming well accepted by experts within the industry and government agencies.Read MoreOrganizational Change General Motors3739 Words   |  15 Pagesdescription of G.M environment, the Burke-Litwin model will be the base of this report and the PESTLE analysis will be used to analyze the different pressures applying on General Motors. General Motors History General Motors was the worlds largest automakers company for more than seventy years. This company was once the single largest employer in the world. Nowadays its global headquarter is based in Detroit, the company employs more than 200,000 people all around the world and does business in someRead MoreCorporate Overview Of The Automotive Industry1548 Words   |  7 Pagesand sales. This analysis will take a further look at automakers in the industry, more specifically General Motors (GM), Volkswagen (VLKAY, Honda, Nissan, Toyota. Beginning around the 1890s, the automotive industry has evolved and undergone shift changes in consumer trends, product development, marketing, and industry competition shifts. Some of the major changes have been the result of: Regulatory, Safety, Economy, Reliability, and Environmental. It is a global industry that impacts the lives of billions

Difference between leadership and followership free essay sample

Everyone have â€Å"follows† someone during their lifetime. Parents provide the earliest influences on children. During the formative years our parents become the leaders. We are taught ethical behavior, honesty and the necessary core values of effective leadership. Followership and Leadership are essential to accomplish the mission. This paper is to demonstrate the differences between followership and leadership in depth to acquire a better understanding. Without followership, a leader at any level will fail to produce effective institutions† (Bjugstad et al. , 2006, p. 316). Displaying these characteristics of followership is hard work and it takes discipline. This means that followership helps the organization move towards the achievement of a vision. Without quality followership, the vision would not be realized. The meaning of Like right now, you are in Civil Air Patrol because you want to succeed in what life gives you and be citizens that live up to the Civil Air Patrol Core Values. This speech is about what followership and leadership and my experience with followership and leadership and how you can you know the difference of those two words to get understanding of them. The meaning of followership is reaching a specific goal while exercising respect of authority, a positive attitude, integrity, and self-discipline. This meaning comes to my first encampment as basic. Most of you went to encampment. When I was in my flight I was only an airman. The flight commander was drilling my flight he was getting on cadets heads about marching but I said to myself, â€Å"This Cadet Captain is so going to embarrass me to the whole flight. † Well he came right in front of me and sends me out of the flight. I was thinking, â€Å"Get ready Sosa you would need it. † But then something ironic happened, he told me, â€Å"Do you know how to march Sosa. † I responded, â€Å"No Sir! † Well he told me, † Come here I will show you how to do it correctly. † I thought, â€Å"Why this guy not screaming at me? † But then he showed me everything he said told me, â€Å"Sosa it is all a learning experience you can do it. † I still remember that since December 28, 2011. Followership is all about learning experience like my flight commander said in my encampment, also can learn how to listen to get the job done. Then this is where a cadet’s experience advances when you know when to listen or to talk. That is the transformation to followership and leadership comes to play. The meaning of leadership is the art and science of influencing and directing people to accomplish the assigned mission. This is when I go to the National Emergency Services Academy. I was a Ground Team Leader in my Graduation Mission (last mission of the camp) so I had to be aware of my decisions at all times. I was in the beginning of the mission and I told the whole team, â€Å"We are going to the woods so get your working gloves! † So everyone did and when we were deep in the forest we got lost. We had to go through a lot of thorn bushes and spike plants and it hurt a lot. We lost about 30 minutes approximately. When we came out our uniform had many cuts, thorns, and spikes. When I looked on the map we were two minute from where we started if we took the easy way. But then from my peripheral vision something orange and I thought it was the ELT and I sent three people including me, and when we went closer it was the ELT. So I was thinking,† Thank g-d this can cover up what happened earlier and it was the crash site and I am the first Ground Team Leader there, I was responsible until NTSB (National Transportation Safety Board) came. So I was a leader for two things in my mission, the team and the crash site. But don’t forget I did have the team in a wreck when I told them to go to the woods. I am not the perfect leader, I will make a mistake here and there. Now we are going to see how many differences they have. In followership you don’t need experience because you are starting fresh learning from the bottom to the top. In leadership you need the experience of being a follower and learn from your leaders so then you can become the leader you always wanted to be. Another difference they have is that leadership contains more responsibility for the team than followership. Why, because the responsibility leader has is the team and to be sure everything goes accordingly to success in the mission, followership has the responsibility to learn from the leader. Followers have to learn the basics first so they can advance and have more responsibility in their hand so they can be a good leader. Last thing they are different is because leadership is a higher position than follower. It is because leaders had been in the program for a long time and followers have not been in the program that long to know what to do. I believe that this speech would help show the importance on how to know how to be a follower or leader and how to guide followers and leaders. But you are never always going to be a yes person but a person who listens and learns and definitely thinks if something is morally right or wrong before carrying out order or doing an order. This speech is about what followership and leadership and my experience with followership and leadership and how you can you know the difference of those two words to get understanding of them. This quote is attributed to Harry S Truman, â€Å"Its what you learn after you know it all that counts. †

Boston Chicken Case free essay sample

Boston Chicken implemented a franchising strategy that differed from most other franchising companies at the time. Boston Chicken focused its expansion through franchising the company through large regional developers rather than selling store franchises to a large number of small franchisees. In that, an established network of 22 regional franchises that targeted their operations in the 60 largest U.S. metropolitan markets and in order to do so, the franchisee would have been an independent experienced businessman with vast financial resources and would be responsible for opening 50 – 100 stored in the region. Boston Chicken focused on widespread continuous expansion of its operations to become to developed across the board food chain. Scouting for real estate assured the highest standards for developing properties and was critical to the company’s future success. To assist in future growth of the franchises, Boston Chicken implemented a communications infrastructure, which provided a supporting link for communication between its networks of stores. In addition in efforts to improve operating efficiency, the company locked in low rates from its suppliers and developed flagship stores, which did most of the initial food preparation which inadvertently reduced employee training costs. Many of these regional developers were given a revolving credit line to help support expansion. This type of financing came with credit risk while the franchises average revenue from operations were not sufficient enough to cover the expenses which raises doubt for the repayment of such loans. 2. The accounting policy of reporting the franchise fees from Boston Chicken’s area developers as revenue seemed most controversial. These franchise fees, which accounted for more than 50% of total revenue, did not represent revenues from operations. Also, the source of most of the ranchise fees came from the financing provided by Boston Chicken, the franchiser, where the money coming in was the same money that was going out. This overstated earnings of the company. Since the debentures can be converted into shares of common stock, most of the revenue from franchise fees should have been deferred. Reporting revenues that included these franchise fees his the fact the most of the franchised stores were operating at a loss, which provided a false impression to investors. While Boston Chicken, the franchiser reported a net income from operations of $24,611 in 1994, if they excluded the income provided by franchise fees, they company-operated stores would have been operating at a loss, which would have been a more accurate picture for the company’s operations and its question of having a profitable future. 3. Boston Chicken, the franchiser, reports revenue based on franchise fees (includes royalties, initial franchise development costs, interest income from area developer financing, lease income, software fees, and other related franchise fees), and company operated stores. The revenue reported on the income statement does not reflect the operating income or losses generated by the area developers, with most of these area developers operating at a loss. Since the franchiser provides financing to the area developers, it seems that consolidation of the financial statements would provide vital information to the users of the financial statements especially since the repayment of loans relies heavily on the profitability of the franchisees. Basically, Boston Chicken was not reporting the results of operations from its area developers because Boston Chicken did not have an equity position in these firms; rather their stake in these franchises was reported as debt financing. In doing so, Boston Chicken did not have to report the losses that were incurred in these operations. By manipulating the financial statements, the company gave a false impression on its future prospects of the company, allowing them to more freely raise capital through the issuance of common stock, and inadvertently inflating tock prices. Effect on NI(50,325)(140,816) NI$24,611(25,714)(116,205) With the high probability of uncollectibility on notes receivable due to the majority of operating losses of the area developers, creating an allowance for loan losses would more accurately reflect the financial position of Boston Chicken. Even with just a 25% allowance for uncollectibility the company would be operating at a loss of $25,714. 5 7. In the financial information provided in the case for 1994, Boston Chicken’s Operating profit for the year was $24,611, and net earnings $0. 38 per share. In 1995 Operating Profit for the year increased to $67,238 and net earnings to $0. 66 per share. Boston chicken continued to recognize profits in 1996, but was forced to amend its reported profits in May of 1997 due to improperly stating revenues. In 1998 the company files for Chapter 11 Bankruptcy and was subsequently purchased by McDonalds Corporation in 2000. As seen in Table 1 on the following page, it seems that since around the 2nd Quarter in 1997 to mid 2004 the stock price of the plummeted from around $50 per share to under $1 per share.

What Is Angina And What Is The Cure Essays - RTT,

What is Angina? And What is the Cure? QUESTION: What is Angina? And what is the cure? RESPONSE: Angina refers to the pain arising from lack of adequate blood supply to the heart muscle. Typically, it is a crushing pain behind the breastbone in the center of the chest, brought on by exertion and relieved by rest. It may at times radiate to or arise in the left arm, neck, jaw, left chest, or back. It is frequently accompanied by sweating, palpitations of the heart, and generally lasts a matter of minutes. Similar pain syndromes may be caused by other diseases, including esophagitis, gall bladder disease, ulcers, and others. Diagnosis of angina begins with the recognition of the consistent symptoms. Often an exercise test with radioactive thallium is performed if the diagnosis is in question, and sometimes even a cardiac catheterization is done if the outcome is felt necessary to make management decisions. This is a complex area which requires careful judgment by physician and patient. Angina is a manifestation of coronary artery disease, the same disease leading to heart attacks. Coronary artery diseas refers to those syndromes caused by blockage to the flow of blood in those arteries supplying the heart muscle itself, i.e., the coronary arteries. Like any other organ, the heart requires a steady flow of oxygen and nutrients to provide energy for rmovement, and to maintain the delicate balance of chemicals which allow for the careful electrical rhythm control of the heart beat. Unlike some other organs, the heart can survive only a matter of minutes without these nutrients, and the rest of the body can survive only minutes without the heart--thus the critical nature of these syndromes. Causes of blockage range from congenital tissue strands within or over the arteries to spasms of the muscular coat of the arteries themselves. By far the most common cause, however, is the deposition of plaques of cholesterol, platelets and other substances within the arterial walls. Sometimes the buildup is very gradual, but in other cases the buildup is suddenly increased as a chunk of matter breaks off and suddenly blocks the already narrowed opening. Certain factors seem to favor the buildup of these plaques. A strong family history of heart attacks is a definite risk factor, reflecting some metabolic derangement in either cholesterol handling or some other factor. Being male, for reasons probably related to the protective effects of some female hormones, is also a relative risk. Cigarette smoking and high blood pressure are definite risks, both reversible in most cases. Risk also increases with age. Elevated blood cholesterol levels (both total and low density types) are risks, whereas the high density cholesterol level is a risk only if it is reduced. Possible, but less well-defined factors include certain intense and hostile or time-pressured personality types (so-called type A), inactive lifestyle, and high cholesterol diets. Medications are increasingly effective for symptom control, as well as prevention of complications. The oldest and most common agents are the nitrates, derivatives of nitroglycerine. They include nitroglycerine, isosorbide, and similar agents. Newer forms include long acting oral agents, plus skin patches which release a small amount through the skin into the bloodstream over a full day. They act by reducing the burden of blood returning to the heart from the veins and also by dilating the coronary arteries themselves. Nitrates are highly effective for relief and prevention of angina, and sometimes for limiting the size of a heart attack. Used both for treatment of symptoms as well as prevention of anticipated symptoms, nitrates are considered by many to be the mainstay of medical therapy for angina. The second group of drugs are called "beta blockers" for their ability to block the activity of the beta receptors of the nervous system. These receptors cause actions such as blood pressure elevation, rapid heart rate, and forceful heart contractions. When these actions are reduced, the heart needs less blood, and thus angina may be reduced. The newest group of drugs for angina is called the calcium channel blockers. Calcium channels refer to the areas of the membranes of heart and other cells where calcium flows in and out, reacting with other chemicals to modulate the force and rate of contractions. In the heart, they can reduce the force and rate of contractions and electrical excitability, thereby having a calming effect on the heart. Although their final place in heart disease remains to be seen, they promise to play an increasingly important role. When medications are unsuccessful, or if there is concern about an impending or potential heart attack,

The News Entries Should Each Refer To Something Important That Is

The News Entries Should Each Refer To Something Important That Is The News Entries Should Each Refer To Something Important That Is Currently Happening In The World – Coursework Example News Entries Obama hits 50% approval rating in Poll The news article is about a recently released poll results in relation to the rating of the United States of America president Barrack Obama. The polls were conducted by new Washington Post-ABC News poll in December. The current survey ratings are considered as the highest since a similar poll was conducted in 2013. Thus, the polls indicated that president Obama’s rating had hit 50%. This was considered as a relief to the Americans who are keen in how the president will address the key issues that affects them as a state. The polls were conducted as a result of voters granting Republicans authority over the senate and an increased GOP majority in the U.S. House. According to the polls the ratings of president Obama improved considerably as a result of perceived good economic improvements. In addition, the poll reflected a further sharp divide among the Americans along Democratic and Republican lines. However the article gave more hope of the two sides of the political divide to overcome their political differences and pave way for political stability and tolerance in the United States. It was therefore evident that President Obama’s ratings had greatly improved since November 2014 as a result of the president’s zeal in resolving such issues as immigration and climate change within the context of United States. According to the polls the ratings of president Obama could further improve in future if he successfully addresses various issues that affect the Americans. In addition, the unity and political stability among the Republicans and Democrats is crucial in the American politics (David, 2015). David, Jackson, Obama hits 50% approval rating in poll. USA today, 19th January, 2015. Retrieved on 19/01/2015 from: usatoday.com/story/theoval/2015/01/19/obama-approval-rating- washington-post-abc-news-50-percent/21987691/

Define empathy.Include what the text says Essay Example | Topics and Well Written Essays - 250 words

Define empathy.Include what the text says - Essay Example The beginning of empathy is being aware of feelings of another person. It is easier to know about other people’s feelings by asking them how they feel, guessing, making personal judgments and interpreting of non-verbal clues. After figuring out about another person’s feelings, the next step is showing empathy through acknowledgement of the emotion (Adler, 2011). I have used empathy severally in my communication; however, I remember this particular instance that I did not use empathy. I was addressing a friend of mine who seemed to have difficulties adjusting to his new school because one of his new teachers was extremely hard on him. It was affecting him to the extent of not concentrating in his studies well. I remember passing through the same ordeal some time back, early in my education, but, with time I managed to adjust because I had a strong character. I did not refer this to my friend, and, hence, I did not seem to be of help to him. If I had mentioned that I had been in the same ordeal, my friend would have felt much better, and it would have helped him with his adjustment process. I once told my teacher that I did not finish his assignment in time because there was a power shortage in our area. The teacher came from my neighborhood, and I expected him to understand me since he was in the same situation. However, he rubbished my excuses and still punished me by asserting that he does not care whether there was power or not. I did not feel good about the experience since I expected him to empathize with my situation. Empathy is necessary in life as it enables others to feel well even when faced with difficult situations. When empathy is applied in people’s professional and personal lives, it ensures that there are noteworthy relations between people and that people faced with difficult situations are able to adjust

The Legislative Power of the US Congress Case Study

The Legislative Power of the US Congress - Case Study Example On the other hand, the Missouri statute regarding the transport of radioactive materials is also not valid because the transport of radioactive materials concerns US security issues which the federal government (and therefore Congress) has jurisdiction over with. As a matter of fact, it is the Department of Transportation which is delegated with the power to establish the guidelines for the packaging, limits of radioactivity and exposure limits of radioactive materials (Saha 293). Finally, the Missouri statute which imposes a pre-requisite of two-week counseling for marriage licenses issuance is valid because it is not in conflict with congressional legislative powers, current federal laws or is prohibited under s 10 of the US Constitution. Since the said statutes are assailed for their unconstitutionality, the federal courts should have proper jurisdiction over the first case because of it federal enactment, while the second case should be brought before the Missouri Supreme Court s ubject to review by the federal courts (Article 3, US Constitution). However, cases are not yet ripe for court determination because there is no actual legal dispute yet which concerns them (The Jurisdiction of Federal Courts). Ralph may file his case either in a Colorado federal district court or in a Colorado state court since both have concurrent jurisdiction over diversity cases or cases in which the litigants are citizens of different states.

WHAT ARE THE RECENT TRENDS IN EUROBOND MARKET CONCENTRATE ON ISSUES OF Essay

WHAT ARE THE RECENT TRENDS IN EUROBOND MARKET CONCENTRATE ON ISSUES OF SIZE, VOLUME, BORROWERS AND INNOVATIONS - Essay Example Therefore, the market is highly dependent on the reputation of the issuer. The following discussion will see how the Eurobond market has grown since its inception to its current size. The essay will also discuss the current volume of the market and the diversity of the borrowers participating in the market. Finally, the essay will look at the innovations in the Eurobond market with major types of products offered in the market. The bond market is the primary provider of medium or long-term financing for corporations and the market is dominated by the Eurobonds in the international environment. Prior to the appearance of Eurobonds, long-term capital from international source was raised by floating a bond issue in some other country denominated in the currency and meeting the requirements of the country it was issued in. These are called foreign bonds and the total annual volume was an average of $2.6 billion from the period 1964 to 1974 (Smith, 2003). The number of foreign bonds increased substantially after 1974 because of the removal of US capital market controls. However, the number of foreign bonds traded is very small compared to the total international bond market. Smith (2003) points to the various reasons which hampered the growth of foreign bonds. These include the fact that issuers had to meet local requirements which caused delays while issuers prepared the necessary documents or permissions. Expenses were also high because of the underwriting fees and other expenses incurred by the issuer. The 1960s saw the emergence of Eurobonds which rapidly went on to dominate the international bond market. Originally, Eurobonds were unsecured promissory notes denominated in US dollars. They were not registered with US Securities and Exchange Commission (SEC) and therefore could not be sold in US or to US citizens. They were sold to non-US residents, primarily wealthy individuals and foreign institutional investors. Madura (2006) mentions that the emergence of Eurobond market has been highly influenced by the introduction of Interest Equilisation Tax (IET) by the US government in 1963. This IET of 15% on interest received from foreign borrowers was originally designed to restrict foreign debt sold in US market and discourage investors in US from investing in foreign securities. However, the tax actually stimulated the development of Euromarkets and dollar driven financial activity in London. IET was removed in 1974. Eurobonds found further boost in 1984 when the US government repealed the 30% withholding tax on interest income paid to foreign persons or corporations. This allowed US corporations to issue bonds directly to non-US investors. Previously, many foreign investors showed reluctance in purchasing US corporate securities as US issuers were required to withhold part of the required interest payments in order to ensure any tax due would be paid. They were also required to disclose their names and addresses to the issuer. To attract such investors, American companies had to issue bonds in the bearer form through subsidiaries in various tax-haven jurisdictions, such as the Netherlands Antilles (Smith, 2003). Thus removing the withholding tax ensured that foreign investors could

Link Between Islamophobia And Racism Cultural Studies Essay

Link Between Islamophobia And Racism Cultural Studies Essay Indeed, much literature is dedicated to question the (mis)appropriateness of Islamophobia as a labeller of phobia generated, presumably, from an increasingly visible presence of Islam / Muslims in the U.K. in recent years. 1,2,3 The case for / against Islamophobia, depending on which party holds argument, is, in fact, made blurry given the ambiguity of what constitutes a Muslim identity in the first place. 4 Considering potentially multiple identities of U.K. Muslims 5,6, contestation between and within concerned parties holds a fluid ground more so based on or as a result of fluidity of what makes up Islamophobia. This paper examines multilayered manipulations of Islamophobia as contested within a U.K context. The argument, first, discusses literature on race relations and immigration policies, more emphasis being laid on policies pertaining to Commonwealth subjects in Indian Subcontinent. An examination follows of how race-based (addressing ethnicity, assimilation and multicultural ism issues) as opposed to faith-based (addressing religious practices, rights, and interfaith relations) protections have much influenced and/or mixed up contestations over Islam, Muslims and, most importantly, Islamophobia, if any, within a U.K. context. Finally, Islamophobia is placed in a wider European context in which contestation over Islamophobia as such is connected to Continental debates on modern nation-states and multiculturalisms. Race, race relations and immigration policies Historically, Britain has received waves of immigrants of diverse descent for a multitude of reasons. Yet, post-World War II period, particularly during mid-1940s, 1950s and 1960s, witnessed unprecedented influx into major industrial cities for reconstruction efforts. 7,8 Up until late 1960s, no specific laws addressed inter-ethnic violence and conflict. Ironically, ex-colonies subjects were regarded, after all, as second class citizens. 9 Only when families of Asian (primarily Pakistani, Indian and Bangladeshi) works started to flood English cities and ports in what is referred to as chain immigration (i.e. residents invite close family members and friends and, once settled, relatives and friends invite their own families and friends) did local acts of ethnic violence give prominence to and raise public awareness on a national level of alien citizen status as part of British reality. 10 Still, post-World War II period is one characterised more by inflammatory statements made about nationals of non-British blood and descent 11 rather than about citizens whose allegiance to British values and way of life is questionable because of a different creed such as in case of South-Asians. Indicative of an increasingly racialised public discourse pertaining to immigrants and naturalised subjects is: When individuals like the Marquis of Salisbury spoke of maintaining the English way of life, they were not simply referring to economic or regional folk patterns, but explicitly to the preservation of the racial character of the English people. We have developing here a process of subjectification grounded in a racialised construction of the British Subject which excludes and includes people on the basis of race/skin colour. 12 Indeed, race remains a fundamental subtext of British hegemonic discourse during colonial era, in post-World War II period and beyond. For one, one staple justification for subjugation of nations, groups and individuals is race. 13 Further, in case of a South Asian minority, presumably British Subjects, race is invoked as a justification for inequalities at workplace, housing, education, let alone political rights. 14 In essence, race and racism essentialise subjects of racist acts. Similar to all hegemonic practices which maintain specific power relations within an overarching power structure, racism emphasises superior vs. Inferior duality in order not only to maintain existing power relations but also to morally justify excesses of inequalities. 15 In British context, South Asian workers predominantly from Pakistan, India and Bangladesh particularly during first mass immigration waves of 1940s, 1950s and 1960s were, like a gear fit into a larger wheel, brought in as props, imported, used, and returned. Initially, South Asians workers performed and acted as underdogs much to masters delight. Later, however, as familiarity of British System and Administration developed amongst workers of non-British blood, riots and protests became noise (racist) masters needed to work on. Thus, successive legislations regulating immigrants status within U.K. borders were, apparently, meant to control influx of immigrants and to align British Subjects along well-defined ethnic boundaries.16 As U.K.s ethnic makeup diversified over time and across localities, states insistence on ethnic markers between and within ethnic groups grew by leaps and bounds. The racism formula, endorsed by laws and working brilliantly in a colonial era and slightly so within borders during early days of mass immigration, turned out problematic if not unstabilising given growing pressures of growing minorities in pocket cities, minorities now capable of tipping vote balance. Ultimately, a multi-ethnic / multicultural society is not based on a goodwill, all-accommodating multiculturalism discourse one meant to acknowledge ethnic / racial / cultural differences per se by way of minority rights but, rather, one emphasizing ethnic markers for further state control. 17 In fact, state control, in so far as British Muslims are concerned, represents a clear instance not only of an ethnicity manipulated (at multiple layers of discourse in government, media, and education) but, further still, of an identity (i.e. BrMislim / BrAsian) manipulated (at just same layers) and hence fluidity of what constitutes Islam / Muslim and, probably in turn, Islamophobia. Understanding an emerging Islamophobia requires, however, an examination of evolution of race relations politics from one based on race to one based on faith. Race, faith, Islamophobia, and multiculturalism By definition, political discourse is one characterised by manipulation and is, largely, subject to voters sway in democracies. 18 Political Correctness (PC) is just one example of political machination. In essence, a politically correct expression is a euphemism meant (and, for that matter, meaning) less to fulfil felicity conditions required for an actionable statement and more as instrumental. Thus, British policies on race and ethnicity has marked a shift since installation of race relations acts of 1965 and 1968 19 from an emphasis on racial discrimination to an emphasis on religious extremism and bigotry as a basis for incrimination only selectively, excluding BrMuslims. Indeed, incitement to hatred based on affiliation to Islam is one major legal anomaly scholars continue to point out to. 19, 20 Interestedly, given papers purposes, racial discrimination against BrAsians has not, in fact, been eliminated by virtue of progress in legislation on racial relations but only diverted to another (unprotected by law) dimension, significant as is, of a BrAsian subjects identity. That is, being Muslim. That multilayered public discourse has, moreover, shifted from race to faith is indicative not of actionable (as opposed to pronounced) change but of power structure(s) embedded in race relations discourses in the U.K. Thus, in place of a racialised discourse based on BrAsian intrusion into Britishness, same racial group, now British Muslims, comes out as anti-British. Typical of a manipulative political discourse a game of labelling and re-labelling underprivileged, underrepresented groups (except in prisons) is enacted such that power relations as engineered, largely but not always by, state are maintained within and between different ethnicities in a multicultural community which is, Britain. Unsurprisingly, a set of composite metrics has been developed in order to measure Britishness. 21 That such metrics combine gauges of loyalties at intra-national (i.e. Britain), national (i.e. England, Scotland, etc), or local (e.g. Bradford) levels is, indeed, indicative of an ethnic identit y crisis, particularly so in case of BrAsians / BrMuslims. As a consequence, a group diverse as BrAsians / BrMuslims and framed as inassimilable 22 into wider and mainstream community is bundled up altogether, labelled and made alien. Islamophobia is, one argues, an expression of an anxiety over ethnicity identity. Indeed, Islamophobic sentiments are, upon close examination, aimed not at Islam per se but at Muslims. 23 In fact, literature repeatedly points out that people, rather than faith, is phobes trajectory. 23, 24,25 A broad overview of British media is indicative of who is meant and labelled: If you doubt whether Islamophobia exists in Britain, I [Gordon Conway, Head of Commission on British Muslims and Islamophobia] suggest you spend a week reading, as I have done, a range of national and local papers. If you look for articles which refer to Muslims or to Islam you will find prejudiced and antagonistic comments, mostly subtle but sometimes blatant and crude. Where the media lead, many will follow. British Muslims suffer discrimination in their education and in the workplace. Acts of harassment and violence against Muslims are common. 26 Thus, Islamophobia, a label gaining currency in media and academia thanks to Runnymede Trusts much publicised report Islamophobia, a challenge for us all 27 has acquired such a canonical status as to render alternative neologisms unrepresentative of responses to Islam / Muslims. According to Halliday, Islamophobia indulges conformism and authority within Muslim communities. One cannot avoid the sense, in regard to work such as the Runnymede Report that the race relations world has yielded, for reasons of political [emphasis added] convenience, on this term. 28 Moreover, The use of Islamophobia also challenges the possibility of dialogue based on universal principles. It suggeststhat the solution lies in greater dialogue, bridge-building and respect for the other community, but this inevitably runs the risk of denying the right, or possibility, of criticisms of the practices of those with whom one is having the dialogue. Not only those who, on universal human rights grounds, object to elements in Islamic traditions and current rhetoric, but also those who challenge conservative readings from within, can more easily be classed as Islamophobes. 29 Thus, Islamophobia is employed in such a politically correct fashion such as to silence criticisms, on one hand, and to maintain good neighbourhood relations, on another. The former stance is framed, in right-leaning perspective, as militant, jihadist, terrorist, uncivil, anti-modern and anti-Western. 30 The latter is framed, in Islamist perspective, as accommodating, assimilative and hegemonic. In between is media, an arena for meaning-making and shifting perceptions. Alternatively, Islamophobia can be employed not as a politically correct euphemism in order to silence internal criticisms or to maintain law and order but, rather, to militate against an other. This could take a shape of dismantling politeness courtesies essential not for a politically correct dialogue but for one based on critical questioning. Still, Islamophobia could be further employed such as a cover up for supposedly hidden hegemonic agendas. 31 One peculiar shift for Islamophobia as contested within a U.K. context is how instead of imported aliens made citizens being instigators of hate, violence, unrest, and, ultimately terror an enemy within image is constructed and maintained such as to, apparently, pass Islamophobic sentiments, if any, from one generation onto another. 32 For some now increasingly most, credit to media rivers of actual blood running London streets following London 7/7 (Ã   la 9/11 codification) attacks are reminiscent of symbolic blood as invoked by Enoch Powell in his Birmingham speech in 1968: As I look ahead, I am filled with foreboding. Like the Roman, I seem to see the River Tiber foaming with much blood. The tragic and intractable phenomenon [i.e. immigration] which we [emphasis added] watch with horror on the other side of the Atlantic, but which there is interwoven with the history and existence of the States itself, is coming upon us here by our own volition and our own neglect. 33 Unsurprisingly, Powells xenophobic pronouncements just as all xenophobic pronouncements -gain further inertia as an apparently self-fulfilling prophecy comes true. Admittedly, most, if not all, far-right politics tap into a well-rehearsed repertoire of phobias not least Islamophobia. Moreover, whole political careers are created and enhanced based on precautions from an other: now of colour, now of race, and now of different faith. Across Europe, ballot boxes speak volumes of Islamophobia tapped into as a final recourse against an imminent green menace within. 34,35 Islamophobia: European context Placed in a wider context, Islamophobia is not exclusive to U.K. As a matter of fact, for Europe in which U.K. is situated and to which it is historically affiliated Islamophobia is a common currency. Indeed, each European country has a distinctive narrative to tell of Islam / Muslims. Yet, for all differences, European nations especially former colonial powers share common narratives of home-grown terrorists and phobias. 36 Interestingly still is how European nation states follow a similar pattern of state controls over flow of (now particularly Muslim) immigrants as well as controls of modes of conducts of minorities within. 37 In fact, U.K.s, and for that matter Europes, current immigration laws and policies cannot be fully understood in isolation of European conception of nation-states. Historically, European nation-states evolved into democratic polities in which upholding order and rule of law required consistent policies. 38 As European countries grew increasingly into political, economic and scientific powerhouses, an increasing influx of immigrants required subtler means of control. Typically, in major European countries such as U.K. enacting multiculturalism policies meant, at least apparently in so far as actual practices are concerned, less room for truly diverse communities and more for accommodation, assimilation, and full integration of an increasing alien presence posing, allegedly, menaces to established European Enlightenment canonical values of reason and secularism. 39 Probably understandably, far-right currents in European politics manipulated political machinery inciting violence and hatred at times creating, only in voters minds, all sorts of phobias. The case for Islamophobia is one, consequently, which can be understood primarily based on power relations established and maintained in a wider power structure of Europe. This is particularly significant if one is to grasp global (i.e. Western) war on Islam, which is not. For all long-established and nourished power structures need a signifier, a marker, which, presumably , contains, defines, and tags an assumed other only to maintain law and order in an endless historical power struggle over hearts and minds. In conclusion, Islamophobia is, ultimately, a (mis)label slapped onto bottled up power relations within a marked power structure. In U.K. context, Islamophobia is used, as has been demonstrated, not to mark a shift in discursive practices towards a truly multicultural community but to maintain embedded power relations in which specific groups are assigned definite space within ethnic markers. Initially, race is used to maintain power structures but upon introduction of race acts and laws, subtler formers of control and manipulation are employed by which focus is shift from race per se to faith not as a creed but as another boundary of control.

Affirmative Action Essay -- Affirmative Action Essays

Affirmative action is meant to be an attempt at equality throughout society. It supposedly proposes that each person receives equal opportunities in the classroom as well as the work force. Not only would this apply to minorities but to women as well. Every sector in America would be equal and unprejudiced - or so proponents say. On the other hand, adopting affirmative action would force many employers to replace hard-working employees with those of less qualification simply due to their gender or ethnic background. Many people feel that affirmative action would be very beneficial to our society. They have many thought-inspiring arguments. Some claim that we owe blacks for what we took from them in the past. We gave them a setback in our economic system, and affirmative action would be our way of reimbursing them for time and opportunities they lost out on (Norman 50). But where should the line be drawn; how much do we do to repay people - in this case blacks - for past wrongs? Is it enough to give them equal rights, or will we give them extra opportunities to make up for those we took away? It has been argued that the black sector in America, in general, is lower in class due to their environment prior to the Civil War, but the black people of today are not those who lived then. Each person today - no matter their gender,   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   2 origin, race, belief, or whatever difference has the same opportunities as everyone else. In my opinion no one needs any special favors to get ahead. In this paper I will discuss some of the problems with affirmative action. These include disgruntled employees, reverse discrimination, and the negative effect on our economic status. People who are for affirmative action have many possible positive outcomes as a result of this law passing, some of which have already been implicated. The first subject I will discuss is diversity in the work place, including women and minorities.   Ã‚  Ã‚  Ã‚  Ã‚  Proponents of affirmative action attempt to show that diversity in the work force has brought w... ...urface affirmative action sounds and looks good. How could giving people an opportunity to work and learn to get along be a bad   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   6 idea? But after looking deeper into this concept, it seems that the scale of benefits are still not evenly spread amongst the community. After looking at all the negative outcomes, the choice should be clear. This is obviously not the right plan to help our social and economic system and we should stop using it until we can find a better choice. Works Cited Abner, Lacy. Discrimination behind a mask. Lighthouse publishing co. Boston, 1996 Carlton, Melinda. Affirmative Action and Affirming Diversity. Public Management. Florida, 1997. Norman, Jim. Politics of the nineties: Americas Verdict on Affirmative Action is Decidedly Mixed. USA Today. June/July 1997: 49-52. Internet website. www.washingtonpost.com

Records Managment

National Archives and Records Administration PC-GSM: President Office Public Service Management Records and Management Departments President Office Public Service Management Economic Social Records foundation Department for International Development Service Civil Technical College -RPC: Tanzania Public Service College. Firstly I extend my sincere thanks to father Jesus Christ who has proved to me that is not by might or by power but by the spirit in him nothing is impossible.If it was not God grace I would not have produced this great field report in his wisdom he has always led me to greater heights. This is to acknowledge that the work of this report could not be completed without the support of other people during my field attachment training at Inference Limited. In that regard I take this opportunity to express my sincere thanks to Mr.. Edwin Kananga who is Managing Director, for his support and for putting the necessary required working environment which enabled me to complete my field attachment.I also thank my Employer Mr.. Frank Ole Enjoin, for giving me permission of four weeks to complete my field training at Inference. I thank also all staff of Inference Ltd for working with me during my four weeks stay at the firm. This reports present in four chapters' lesson learned from Inference Limited during my field attachment training. Chapter one briefly presents the introduction and historical background of Inference Limited and its Vision, Mission Statement, objectives and current organization chart.Chapter two present field attachment training gained in terms of description of Inference Limited; duties assigned during my field attachment; Achievements made; problems experienced and Skills acquired. Chapter three discusses major problems and challenges encountered by Inference Record Office. I also propose possible solutions. Chapter four presents field attachment training conclusions and Recommendation Reference and Appendices

Internal Analysis of Google The WritePass Journal

Internal Analysis of Googleï » ¿ Introduction Internal Analysis of Googleï » ¿ . Business Week. (2009). Googles Management Style Grows Up. Available at businessweek.com/managing/content/jun2009/ca20090623_918721.htm. Accessed 17 June 2012. Curtis, L. (2006). ‘Will Google become a victim of its own success?’ Admap,   41(473): 55-8. Farrel, S. (1994). ‘Choosing how to compete:  Strategies  and tactics in standardization’, The Journal of Economic Perspectives, 8(2): 117-131. Financial Times (2010). Apple Unveils Fourth-Generation iPhone. Available at ft.com. Accessed 18 June 2012. Hardy, Q. (2006). ‘The Google industrial complex’,  Forbes, 16: 109-12. Lashinsky, A. (2006). ‘Chaos at Google’,  Fortune, 154(6): 34-42. Menick, J. (2008). Basic Adventure and Strategy Game Design for the Apple. Facts on the File. Schermerhorn, J. (2010). Management. Wiley and Sons. Zack, M. (2008). Developing a Knowledge Strategy. Prentice Hall.

Porters generic strategies

Porters generic strategies Introduction Porter’s generic strategies were designed to explain how firms achieve competitive advantage. Numerous industries have applied the three generic approaches, and thus illustrated that Porter’s model was accurate in explaining how firms become successful in their industries. Nonetheless, a few exceptions do exist.Advertising We will write a custom essay sample on Porter’s generic strategies specifically for you for only $16.05 $11/page Learn More Explanation of the model Firms may adopt one of three generic strategies: cost leadership, differentiation or focus. Cost leaders are organisations that sell their goods or services at the lowest price in their industries. Companies can become cost leaders by acquiring and continually investing in capital so as to create or sustain a large market share. High capital investments also create large economies of scale that allow firms to minimise unit costs of production. As a result, the se businesses can pass on production savings to their consumers through low prices. They need to keep up with the latest developments in technology in order to control process-related expenses. Many cost leaders also have closely monitored overhead. They tend to reduce labour costs through commission-based pay. Others can negotiate low prices for raw materials with their suppliers. Organisations may choose cost leadership because it can protect them against powerful buyers and suppliers. Furthermore, it hampers potential entrants from entering the market because they cannot match their economies of scale. The differentiation strategy refers to provision of unique services or products to one’s clients. Some organisations may achieve differentiation through addition of certain qualities in their products. Others may simply work on brand perception while some may dwell on product design. Even the use of technology can become a source of differentiation. Companies may choose such a strategy because it allows them to enjoy high profit margins. Customers tend to be loyal to differentiated firms, so they hardly pay attention to price adjustments among competitors. Differentiation also reduces buyers’ choices hence their power over the concerned firm. In order to achieve this feat, companies need to invest heavily in research and development. They should also market their services or products effectively. In other words, they need to communicate to consumers the exceptional qualities of their products. Differentiated firms ought to have a fixed pay structure that enhances employee loyalty. Innovation and creativity are central features of this strategy. However, businesses in this category do not enjoy a large market share because the strategy focuses on exclusivity.Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More The last approach is called the focus strategy. Here, a company tailors its products or services to one market group. It can select a particular market segment on the basis of its geographical location, product preference or demographic factors. In this category, organisations can either be cost-focus strategists or differentiation-focus strategists. When they select one of the latter, then they can create competitive advantage in their industry. Porter (1980) explained that firms cannot select a hybrid of the three strategies and still be successful. The generic strategies are contradictory in nature, so trying to implement more than one of them would cause firms to be stuck in the middle. For instance a company that wants to pursue both cost leadership and differentiation would need to cut down on overhead, but still invest in research and development. Achieving these two objectives simultaneously would be close to impossible. Such firms have to contend with low profits because they lack the features needed to compete with low cost competitors or differentiated organisations. They also confuse customers who cannot identify one distinct feature about them. Unless a company employs different generic strategies across very separate and distinct business units, then it would not succeed in using a hybrid model. Application of Porter’s generic strategies in various industries Companies in the hotel industry have applied Porter’s generic strategies successfully and those who have not have ended up recording immense losses (Bordean et al. 2010). In the hospitality industry, companies achieve cost leadership by offering only basic services. They focus on attracting a large market segment by keeping their rooms inexpensive. Perhaps one of the most popular strategies pursued in the hotel industry is differentiation. Companies may provide unique services such as wifi access, transportation from the airport, superior room furnishing and many more to create value. They eventually let travellers and visitors know that their services are superior, which leads to business success. In the hospitality industry, most firms choose to pursue a differentiation focus strategy rather than a cost focus strategy because it is difficult to meet the needs of a certain market segment without some form of differentiation. Some hotels have achieved this through focus on elite clientele, married couples or Islamic clients. Bordean et al (2010) carried out an analysis of the Romanian hotel industry by administering questionnaires to 69 hotels in the country. They had 26 strategic practices that participants needed to select. These findings would then be classified as cost leadership, differentiation or focus strategies.Advertising We will write a custom essay sample on Porter’s generic strategies specifically for you for only $16.05 $11/page Learn More The researchers found that several hotels utilised the differentiation strategy through brand identification , superior staff experiences as well as provision of certain technological advantages. They also found that others used the focus strategy by offering speciality services and establishing a strong reputation of excellence in the industry. Cost leadership was not found to be a strong strategy among most hotels because clients frowned upon cost-cutting measures. In essence, these findings support Porter’s assertions concerning the unfeasibility of hybrid approaches. Various industries have different manifestations of the three generic strategies because of the inherent characteristics within them. As described earlier, the hospitability industry rarely has firms that pursue cost leadership because of the nature of demand in that sector. However, other industries may be more inclined to cost leadership than others. Alternatively, they may depict differentiation strategies in different ways from other service industries. One such case is the health service industry. Lamont et al. (1993) found that differentiation in hospitals occurs through use of technologically sophisticated services, expansion of the nature of services offered and provision of rare services. For instance, hospitals with cardiac catheterisation laboratories and lithotripters are differentiated through the use of technological sophistication. Hospitals with rare services include those one that provide alcoholism services, birthing rooms or burn care. Conversely, hospitals may also pursue cost leadership by cutting down on their expenses. If the total operational costs per bed and the salary adjusted for each patient is low, then one ought to classify that hospital as a low cost facility. When Lamont et al. (1993) measured the financial performance of all hospitals (total margin and net operational revenue); they found that muddling organisations were the least profitable. These were companies who neither had low cost strategies or differentiation. Experts suggest that differentiated hospit als are better suited to discontinuous environment because differentiators give customers unique service. They use new technologies or foresee customer reactions and tailor services to meet those new needs. In a dynamic environment where factors alter frequently, hospitals pursing a differentiation strategy will be better able to cope with unpredictable occurrences. Cost leaders, on the other hand, thrive in predictable environments.Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More A dynamic environment creates diseconomies of scale and undermines attempts at cost control or efficiency. Furthermore, if the institution’s environment changes then the institution should consider changing its generic strategy. In the healthcare industry, firms’ strategic options are not curved in stone. They can be oriented to fit their environment. However, if a hospital already has a proper organisation-environment fit, then there is not need to alter its Porter generic strategy. Torgovicky et al. (2005) also carried out a study in the healthcare industry. They collected performance data from the Israeli ambulatory health care system, and compared this with the generic strategies pursued by the different businesses. It was found that organisations that did not fall neatly into any of the three categories were not financially viable. These findings further supported the assertions made by Porter. In the airline industry, one can also find instances of the Porter gen eric strategic models across the board. Cost leaders work by offering no frills; they only provide standard services. A good example of such an airline is Britain’s Easy Jet. The company merely provides clients with a seat and leg room, and thus cuts down on costs. It then eliminates the need to charge customers for any extra features. The strategy has built a large market share for the company and this has also increased its high income streams. Differentiators in the airline industry aim at providing additional features such as a diverse and satisfying menus, strong customer service and personal television viewing. Focus strategies in the airline industry are manifested through various ways. Some may dwell on offering differentiated flights in small airports. Alternatively, others may choose to fly to local destinations and may offer their services as low costs (Peters 2008). Several consumers in the airline industry will not pay high prices for short-distance flights. Cons equently, cost leaders have taken advantage of this situation and dominated short-distance flights. Some airlines have suffered tremendously owing to poor application of the Porter generic strategies. British Airways recorded losses of approximately 300 million pounds owing to its insistence on offering frills in short distance flights. One may liken frills to differentiation generic strategies because consumers must pay more for certain in-flight perks. Conversely, short distance flights may be likened to the cost leadership strategy. Therefore, British Airways was trying to pursue two simultaneous strategies in this business unit, and failed dramatically. The company has since learnt that the two approaches should be separated in order to foster financial sustainability. Perhaps one of the most obvious depictions of Porter’s generic strategies is the basic industrial goods sector, such as steel making (Bennet Cooper 1979). It is preferable to employ cost leadership strateg ies in this sector owing to a number of reasons. First, the steel industry has minimal opportunities for differentiation. The goods being prepared are quite basic and will eventually be used to make other commodities. Therefore, organisations are only left with process manipulation as the only way of maintaining a competitive advantage. The steel making industry often relies on the use of technology in order to boost production processes; this is a symptom of cost leadership. One of the ways in which these companies have reduced production costs is through computer inventory systems, which ensure that no company resource goes to waste during manufacture. Steel makers also work hard to ensure that their purchasing, and sales management techniques are in order. This would ensure that they produce their goods at very low prices. The companies also struggle to improve economies of scale through joint ventures because the overall outcome is plain steel. Sometimes joint ventures may occur between firms within the same supply chain. In other words, vertical integration of suppliers and manufacturers often takes place in the steel industry. Companies that engage in these joint ventures aim at minimising the cost of acquiring raw materials like iron ore or steel shreds. The high capital investments in basic industries also explain why price wars are common in the industry. Since organisations invest so much in opening up their businesses, then they try as much as possible to cut down on costs. The same strategies in the steel industry are also applied in other industries such as aluminium, plastic or paper. Such organisations do not diversify their goods, so the only option available to them is the price alternative. Weaknesses of Porter’s generic model While Porter’s strategic model may have garnered wide application in a number of industries, reports also shows that some industries or organisations do not follow Porter’s recommendations to the le tter. It is possible for firms to become cost leaders through the use of differentiation. A case in point is the automobile industry. General Motors was recognised as a cost leader even during the same decade that Porter created the generic strategy model. However, consumer reports also indicate that the company’s large luxury vehicles were the preferred consumer brand between 1976 and 1982. Similarly, the organisation’s midsize compact category was also at the top of their list between 1977 and 1982 (Datta 1996). The compact and large luxury automobile was one of the most profitable car segments at the time. These findings illustrate that General Motors differentiated its product offerings despite being a cost leader. Its profitability came from its perfection of the two models and its pursuance of low prices. Some firms may pursue more than one generic strategy, albeit at a milder level with one of them. The latter assertions are supported by numerous studies; one su ch example was a research done by Chan and Wong (1999). The two authors sought to examine the relationship between the competitive strategies adopted by organisations in the banking sector and their performance. They found that companies with multi-strategy approaches were more financially successful than the ones who only chose on of Porter’s three generic strategies. Chan and Wong (1999) explained that these strategies were possible because those banks had ample resources to synergise seemingly incompatible generic strategies. The organisations achieved this feat because they had strong organisational capabilities. Most of their managers were committed to their companies and carefully analysed the relationship between business activities and the organisational system. Porter argued that firms may choose to pursue differentiation or cost leadership in order to garner success. He treats these two approaches in an equal manner and believes that they can both provide tangible r esults for companies that select them. However, some analysts have found that differentiation is a superior strategy to cost leadership. Customers and their perception of quality within a certain company make a company more competitively placed than a cost leader. This explains why many US-based firms in the electronics industry became bankrupt. They failed to innovate and paid minimal attention to the quality of their commodities. Differentiation is superior to cost leadership because it is more focused towards customer needs. These firms listen to their buyers and are keen on using technology or any other means needed to meet consumer needs. According to Porter, differentiation is not well suited to low cost. However, this statement may not always be true. Differentiation is often associated with high quality and value creation. Nonetheless, in an attempt to meet consumer demands through quality improvement, some companies may end up minimising costs, which may be passed on to con sumers through lower prices. For instance, in 1997, Toyota wanted to improve its Camry model by increasing its speed impact. However, after achieving that objective, the company found that the product had fewer parts and thus better performance (Krebs 1996). In the mobile phone industry, companies instated quality assurance procedures in order to boost mobile device performance. However, these quality processes, which were differentiation strategies, ended up reducing costs of the products. Therefore, differentiation and low costs may work hand in hand, contrary to Porter’s claims. Conclusion Porter’s generic strategies have an impact in numerous industries across the board. Most of these organisations tend to have low levels of differentiation and are relatively secure industries. However, other firms may challenge the assumptions in Porter’s model when they exist in dynamic industries such as international banking. References Bennet, R Cooper, R 1979, ‘ Beyond the marketing concept’. Business Horizons, June, p. 76-83. Bordean, O, Borza, A, Razvan, N, Catalina, M. 2010, ‘The use of Michael Porter’s generic strategies in the Romanian hotel industry’, International Journal of Trade, Economics and Finance, vol. 1 no. 2, pp. 173-177, Chan, R Wong, Y 1999, ‘Bank generic strategies: does Porter’s theory apply in an international banking centre?’, International Business Review, vol. 8 no 5, pp. 561-590. Datta, Y 1996, ‘Market segmentation: An integrated framework’, Long Range Planning, vol. 29 no. 6, pp. 797-811. Krebs, M 1996, ‘1997 Toyota Camry: Indeed, less is more’ New York Times, 26 October, p.15. Lamont, B, Marlin, D, Hoffman, J 1993, ‘Porter’s generic strategies, discontinuous environments and performance: A longitudinal study of changing strategies in the hospital industry’, Health Services Research, vol. 25 no. 5, pp.623-64. Peters, K 2 008, ‘Generis strategies: A substitute for thinking?’ The Ashridge Journal, Spring, p. 1-5 Porter, M, 1980, Competitive strategy: Techniques for analysing industries and competitors, Free Press, New York. Torgovicky, R, Goldberg, A, Shvarts, S, Bar, D, Onn, E, Levi, Y, Bardayan, Y. 2005, ‘Application of Porter’s generic strategies in ambulatory healthcare: a comparison of managerial perceptions in two Israeli sick funds’, Healthcare Management Review, vol. 30 no. 1, pp 17-23.

Positive and negative effects of Intrinsic and extrinsic motivation Research Paper

Positive and negative effects of Intrinsic and extrinsic motivation used by organizations and if the benefits outweigh the negat - Research Paper Example Employee motivation is a good mix of direction of behavior, level of effort, and level of persistence (Mosley Jr., Pietri, & Mosley Sr., 2011, p. 197). As Ellis-Christensen (n.d.) states, â€Å"when employee motivation is low, businesses can have a difficult time† (p. 1). This statement shows that without employee motivation, companies come across a number of problems, such as, poor employee performance, decreased income and profits, decreased level of employee commitment, decreased employee productivity, poor customer service, and increased employee absenteeism. On the other hand, when employees feel valued and their level of motivation is high, they show more commitment and dedication to their job related goals and responsibilities, which results in increasing the overall organizational performance. In this paper, we will discuss two main types of motivation that organizations use to build employee motivation. The paper will also include a discussion on whether the benefits of both types of motivation outweigh the negative consequences or not. Types of Motivation There are two main types of motivation, which include intrinsic motivation and extrinsic motivation. Intrinsic motivation s the type of motivation that comes from the inner self of a person and makes a person put some special efforts to achieve personal or professional goals. On the other hand, extrinsic motivation comes from the outside of a person. External sources play their role in building this type of motivation in a person. "Extrinsic motivation comes from external sources, motivating you with incentives to push your performance" (Ingram, n.d., p. 1). Both extrinsic and intrinsic motivations have certain advantages and disadvantages. Let us discuss how organizations use both of these types of motivation to raise the level of employee performance at the workplace. Intrinsic Motivation As described by various psychologists, intrinsic motivation has no external source that may drive a pers on to achieve his/her goals. Rather it builds in the person inside and is directly related to the desires, perceptions, and ambitions of a person. "Intrinsically motivated people are not influenced by external rewards or punishments for their work, such as earning money for doing a job or getting a poor grade on a school assignment" (Jeffress, n.d.). Individuals who are intrinsically motivated do things to get pleasure or to achieve a sense of accomplishment. There is no external element pushing employees to work hard for their ambitions (Thomas, 2009). They do not work for rewards, money, or other things like that. A very important point that distinguishes intrinsic motivation from extrinsic motivation is that people who are motivated intrinsically usually show long-term consistency and dedication to their tasks as compared to extrinsically motivated people. Intrinsically motivated people want to satisfy their inner-self and to do this, they put up big efforts. Another very importa nt point is that intrinsically motivated individuals feel more enjoyment and fun in doing things because of which their performance level are on the higher ends most of the times. The desire of personal satisfaction is the key to achieve goals and objectives. Intrinsically mo

Sources of Funds case Essay Example | Topics and Well Written Essays - 500 words

Sources of Funds case - Essay Example Equity can be generated internally as retained earnings or generated externally generated as common share capital. A company may choose to use its retained earnings to expand its operations. This is because the cost of retained earnings is relatively lower compared to the cost of common share capital. The major drawbacks of this source of finance are that it is usually inadequate, and its use can easily expose a company to liquidity problems. Consequently, a firm can source equity through issuing of common shares. This source of funds confers several advantages. The first advantage is that this form of financing is a permanent source of capital because common shares have no maturity date. The company does not have any liability for cash outflows linked with the redemption of the common shares. This facilitates financing of long term projects. Secondly use of equity lowers the gearing level hence a company has a broader borrowing capacity. Thirdly, the shareholders may provide valuabl e ideas to the company’s operations. However, this method faces various drawbacks. First the floatation costs are higher than those of debt (Pratt, 2010). Secondly, equity is only accessible to companies that have fulfilled the capital markets authority requirements. Thirdly, it can lead to dilution of ownership of control of the firm by the shareholders. The second method of raising capital is debt capital. This form of capital can be in the form of debentures and corporate bonds. This source of funds confers several advantages. Firstly, the floatation costs are lower than those of common share capital. Secondly, since the interest on debt is tax allowable then the company enjoys a tax saving. This method of raising capital also faces various drawbacks. Default in payment of principal and interest can force a company into liquidation. Secondly, Providers of debt capital impose conditions, and many restrictive covenants hence it

Human Resources Management Master Essay Example | Topics and Well Written Essays - 4500 words

Human Resources Management Master - Essay Example HRM itself is the new avatar of 'Personnel Management'. Personnel management was largely concerned with the technical aspects of hiring, evaluating, training, and compensating employees. HRM on the other hand leaves scope for career building of the employee, development of a professional relationship and the satisfaction aspect. as per the latest trend, the 'individual' acquires a central place in the HR policies being devised by the management. HRM mainly intends to bring optimum out of the individual so that the company gets maximum output and in turn the individual too gets his due share of profit. This further inspires the individual as well as the team to perform par excellence. Human Resource Management is a very crucial and an integral part of any organization. The very fact that now people are being considered as resource instead of liability marks the importance of human beings constituting this resource. Human Resource environment as such is affected mainly by the following five factors; ii. i. Economic: The economic environment of host country, inflation rates, growth factors and the levels of unemployment affect the HR policies. ii. Demographic: The demographic composition of the workforce like the communities involved, the caste consideration (this becomes a reasonable factor in case of some of the developing economies), the male-female composition, the population density of the country/ region also helps in devising effective HR strategies. iii. Socio-cultural: Religion and culture never tell a person to 'not to work', yet people of some socio-cultural background are found to be less workaholic than others. The effect of family systems like 'Joint family system' or 'Nuclear family system' become crucial factors in forming the habits of individuals and thus formulating of HR policies. Employees sometimes prefer flexibility in their work schedule depending upon the local festive season, local climatic conditions etc. iv. Technological: Rapid technological advancements have reduced the dependence on muscle power to a certain extent. Modernization and automation lead to increased accuracy and less redundancy in the output while increasing the comfort level of the workforce. v. Politico Legal: Prevailing political situation in the country, the party in power, the ideology of government functionaries affect the business environment. Whether it's a democracy, autocracy, monarchy, one party system, or a multi-party system gives enough room for strategy planners to devise HR policies accordingly. The law of the land has always to be kept in mind while doing the recruitments or managing the human resources. For example in some countries, formation of 'workers union' is not allowed while in some others it's mandatory. All these efforts are to be kept in mind while devising strategies/ policies for HRM, with the prime objective of HRM being 'developing congruence between individual goals and organizational objectives while striving for realizing higher standards of performance, satisfaction and quality of working life'. The HR manager is therefore directly responsible towards the retention and upkeep of 'human assets' in an

Police scandals are an untallied cost of the drug war Essay Example for Free

Police scandals are an untallied cost of the drug war Essay The FBI, the Drug Enforcement Administration, and even the Coast Guard have had to admit to corruption. The gravity of the police crimes is as disturbing as the volume. In New Orleans, a uniformed cop in league with a drug dealer has been convicted of murdering her partner and shop owners during a robbery committed while she was on patrol. In Washington, D. C. , and in Atlanta, cops in drug stings were arrested for stealing and taking bribes. New York State troopers falsified drug evidence that sent people to prison. And it is not just the rank and file. The former police chief of Detroit went to prison for stealing police drug-buy money. In a small New England town, the chief stole drugs from the evidence locker for his own use. And the DEA agent who arrested Panamas General Noriega is in jail for stealing laundered drug money. The drug war is as lethal as it is corrupting. And the police and drug criminals are not the only casualties. An innocent 75-year-old African-American minister died of a heart attack struggling with Boston cops who were mistakenly arresting him because an informant had given them the wrong address. A rancher in Ventura County, California, was killed by a police SWAT team serving a search warrant in the mistaken belief that he was growing marijuana. In Los Angeles, a three-year-old girl died of gunshot wounds after her mother took a wrong turn into a street controlled by a drug-dealing gang. They fired on the car because it had invaded their marketplace. The violence comes from the competition for illegal profits among dealers, not from crazed drug users. Professor Milton Friedman has estimated that as many as 10,000 additional homicides a year are plausibly attributed to the drug war. Worse still, the drug war has become a race war in which non-whites are arrested and imprisoned at 4 to 5 times the rate whites are, even though most drug crimes are committed by whites. The Sentencing Research Project reports that one-third of black men are in jail or under penal supervision, largely because of drug arrests. The drug war has established thriving criminal enterprises which recruit teenagers into criminal careers. It was such issues that engaged law-enforcement leaders most of them police chiefs from fifty agencies during a two-day conference at the Hoover Institution in May 1995. Among the speakers was our colleague in this symposium, Mayor Kurt Schmoke, who told the group that he had visited a high school and asked the students if the high dropout rate was due to kids being hooked on drugs. He was told that the kids were dropping out because they were hooked on drug money, not drugs. He also told us that when he went to community meetings he would ask the audience three questions. 1) Have we won the drug war? People laughed. 2) Are we winning the drug war? People shook their heads. 3) If we keep doing what we are doing will we have won the drug war in ten years? The answer was a resounding No. At the end of the conference, the police participants completed an evaluation form. Ninety per cent voted no confidence in the war on drugs. They were unanimous in favoring more treatment and education over more arrests and prisons. They were unanimous in recommending a presidential blue-ribbon commission to evaluate the drug war and to explore alternative methods of drug control. In sum, the tough-minded law-enforcement officials took positions directly contrary to those of Congress and the President. One hopes that politicians will realize that no one can accuse them of being soft on drugs if they vote for changes suggested by many thoughtful people in law enforcement. If the politicians tone down their rhetoric it will permit police leaders to expose the costs of our present drug-control policies. Public opinion will then allow policy changes to decriminalize marijuana and stop the arrest of hundreds of thousands of people every year. The enormous savings can be used for what the public really wants the prevention of violent crime.

Efficient Market Theory and Behavioural Finance Essay -- Business, Glo

The behaviour of markets and investors, the decision making in the market place and the dynamics of demand and supply in any given market cannot be determined with a hundred percent accuracy. However master minds in the past have designed various techniques and theories that help investors make a particular buying decision, or to make choices logically. These theories and techniques help today’s investors to peep into the future and make almost immaculate predictions regarding the future behaviour of the market and the ongoing trends. A lay man night view the decision making of an investor as being solely based upon speculation but in reality every move that an investor makes today in the market place is backed up by sound calculation and theories. Two of the most talked about and essential theories or concepts that are related to the market dynamics and that will be discussed at length in this assignment are Efficient Market Theory and Behavioural Finance. Efficient Market Theory suggests that in every financial market the flow of information is very efficient and this is reflected in the price of the share at which it is being traded. As we know that the price of the share floating in a market is not only dependent upon the company name printed and the information about the company in the balance sheet and other financial statements available to the public (Baghestani, H., 2009). In fact government and political stability, inflation, interest rates, treasury bills and several more factors determine the price at which any particular share is sold or bought at. Information about all these factors is always available to every investor in the market, be it the buyer or the seller. Moreover this information is available in an effi... ...ormation regarding the dynamics of the market and if this holds true then a financial market can never collapse. However in real world we face event like that of the 2007 global financial crisis that decelerated the global economic progress a great deal and once prosperous economies like the US ended up finding themselves in a state of panic where the poverty rose above all the previous levels and unemployment hiked to intolerable levels. Furthermore, the interest rates in the United States fell to a dreadful 1% during this crisis leading to falling savings in its economy. Hence we can conclude that Efficient Market Theory presents a weak argument to define market place dynamics. However if a combination of Efficient Market Theory and Behavioural Finance is utilized to predict market place dynamics then this would be defined as an efficient and effective approach.

President Bill Clinton :: William Jefferson Clinton Essays

Bill Clinton was born William Jefferson Blythe III on August 19, 1946, in the small town of Hope, Arkansas. He was named after his father, William Jefferson Blythe II, who had been killed in a car accident just three months before his son's birth. Needing a way to support herself and her new child, Bill Clinton's mother, Virginia Cassidy Blythe, moved to New Orleans, Louisiana, to study nursing. Bill Clinton stayed with his mother's parents in Hope. There his grandparents, Eldrigde and Edith Cassidy, taught him strong values and beliefs such as "equality among all and discrimination to none". This was a lesson Bill never forgot. His mother returned from New Orleans with a nursing degree in 1950, when her son was four year old. Later that same year, she married an automobile salesman named Roger Clinton. When Bill was seven years old, the family moved to Hot Springs, Arkansas for it offered a better employment opportunities. Roger received a higher paying job as a service ma nager for his brother's car dealer-ship and Virginia discovered a job as a nurse anesthetist. In 1956, Bill Clinton's half-brother, Roger Clinton Jr., was born. When his brother was old enough to enter school, young Bill had his last name legally altered from Blythe to Clinton. Clinton's life continued and during his High school years he was awestruck by two successful leaders, John F. Kennedy and Dr. Martin Luther King, Jr. He was inspired by them so much that thrived on fulfilling their dreams. He raised money and organized charity events, but most of all he learned how to work with people and the concept of being a good citizen. In his spare time, he endulged himself in literature and played a saxophone. He loved music, and each summer he would attend a band camp in the Ozark Mountains. His hard work paid off when he became top saxophone player at his school and won first chair in state band. Bill Clinton recognized that although college would be expensive, it would give him the education he needed to accomplish his goals. His hard work in school, combined with his music ability, earned him many academic and music scholarships. With the aid of those scholarships and loans from the government, he was able to attend Georgetown University in Washington, D.C. He chose George town because it had an excellent foreign service program and it was located in the nations capital.

Drivers of Globalization Essay

Having listened to distinguished luminaries such as Prof Ishwar Dayal there is hardly very much I can add or contribute to the discourse initiated this morning. But as a student of economics I know that I should stick to my comparative advantage. What I therefore propose to do this afternoon is to spell out what I consider are the main Drivers of Globalization . I would then argue that unless we understand those Drivers of Globalization we cannot have a picture of what the firms or business— individually and collectively —are going to look like in the future. Having done that , we delve into the realm of the changes in the the state of the firm which will emerge in the light of this globalization. We should then discuss as to what will be the challenges facing the management of firms in this globalized economy. Once we have grappled with these configurations we should be in a better position to sketch out the contours of management Education required in the future globa lized world. This is the analytical framework I propose for our discussion this afternoon. It is not very meaningful to start the conversation about Management Education without reference to the management challenges that the firms and businesses operating in the globalized economy would be faced with in the future. Management Education then responds to those needs and requirements and equips its graduates in meeting those challenges . I will start the ball rolling by dwelling upon the Drivers of Globalization. I would submit that there are many competing theories and several hypotheses about the shape and form of globalization. There is no consensus at intellectual level about the impact of globalization. Some consider it as an evil that will create more misery for the weaker nations, fragile states and disadvantaged populations as well endowed nations, strong economies and large populous states pre-empt most of the benefits for themselves. Others feel that the dissipation of boundaries, dismantling of barriers and disappearances of borders would spread these benefits to majority of the people in all parts of the world. But at least one thing is quite obvious. We would face a lot of uncertainty during the course of coming decades. The recent financial crisis we witnessed in 2008-2009 has taken all of us by surprise. There were hardly any tremors felt before the financial tsunami engulfed all of us in its spate. Nobody had predicted the speed, intensity and extent of damage that came along with this crisis. So what is certain is that the world is going to be saddled with uncertainty, with unknowns, with imponderables, with unanticipated events which despite our best ability and foresight we are not able to predict. Its going to be a messy world, it is going to be a totally uncertain world and therefore the kind of firm which would survive under those circumstances would be one which is agile, nimble and quick in its response to the ever changing dynamic situation of the globe . The quest for fixed points, base lines, benchmarks and milestones would prove to be futile. Management Education should produce managers who are able to think on their feet and are able to exercise critical analytical ability to solve problem in face of incomplete information . Those who remain wedded to the practice of drawing conclusions about the future from their past experiences are most likely to get it wrong. In my view as I see it today there are at least 6 Drivers of Globalization . I do not rule out the possibility that all of us can have our own set of Drivers of Globalization . But at least these are the Drivers of Globalization which I see as formidable in today’ s world but they may change tomorrow or we may subtract or add to this list. 1. The first and the most important- there is a huge Demographic Transition which has already started but is going to intensify in the next four or five decades. . Most of the European countries , Japan and United States are going to have a higher proportion of aged population compared to the younger population and the Dependency ratio will rise. These countries will face labor shortages if they do not allow immigration into their countries. China is going to enter that phase a little later which is 2050 onwards. The only region where the proportion of the younger population is actually rising and will continue to have an upward trend is the South Asia region. This is something which the policy makers in this region have to take cognizance of and prepare their respective national labour forces for taking over as work force of the globe. The more skilled our labor force is , the better off we will be in capturing a large share in the Global job market. So this demographic transition c an become a huge premium, a plus, a potential for higher economic development for South Asia Region. And if we put our act together today then the chances for this generation of younger students present at the conference will be much brighter than it was for our generation or our parents in South Asia. So, this is clearly a positive factor, but this can also turn into a night mare, a bleak scenario . The sheer thought of seven million new jobs to be created in India annually to absorb the new entrants to the labor force is simply overwhelming. This poses a tremendous challenge for the policy makers and the businesses. So, if we do it wrong that is if we produce wrong kind of manpower— ill equipped or unskilled or poorly trained , uneducated and illiterate —then we are going to face rising unemployment, high inequalities and a social upheaval. The choice clearly rests with us but more important is the urgency of action . 2. Second there is an explicit and projected shift in balance of economic power. If we look at all the projections it shows that China is going to overtake United States. It has already overtaken Japan to become the second largest economy in the world. When will this happen? Some people say, 2025, some others put it 2020 or anywhere in between China will become the world’s largest single economy. China is already world’s largest single exporting nation .Most scholars and analysts have termed the 21st century as Asian Century and so the balance of economic power is going to migrate from Japan, Europe and the United States towards Asia and the model which is actually helping the Asian countries is the intra regional trade. In place of the traditional production processes we are witnessing a new phenomenon of value chain . It starts with the components, raw material and parts coming from different parts of Asia on the basis of their quality and competitive pricing and ending up in China in form of final assembled goods. So although it is true that the origin of the good is recorded as from China there are many countries which are the beneficiaries and within these countries a growing number of firms which are participating in this process . So, vertical Integration is no longer a viable business model as far production is concerned. On the other side , India is becoming the centre not only for IT Services but if we look in the last few years we can see R&D centers in Pharmaceutical Industry, financial services industry locating in India because of the kind of trained manpower which is available here. It is efficient, is high quality, but is cheaper. Those are the advantages that are making India the preferred location for Services industry.. So the goods are being manufactured in the world’s factory which is China and the services are coming more and more in the lap of India. These two are going to emerge as the economic powers in the next thirty to forty years at the expense of other OECD countries or the developed countries . The growth rate in most developed countries is hardly averaging 2 to 3% per annum while in addition to China, India, countries such as Indonesia, Vietnam, Malaysia, Thailand are all growing in the range of 7 to 10 %. So the differential growth rate is going to make a difference as far as the shift in the economic power is concerned. 3. The third driver is the speed of technology dissemination and assimilation . It is so rapid that it does not really bind itself to any particular geographical boundaries or territory. It is pan global. The internet , the software applications, the rising connectivity , the spread of mobile phones in developing countries and more user friendly technologies like the search engines have enabled us to access , assimilate and apply new knowledge and techniques without leaving our shores and incurring any additional expenses. Knowledge is a public good with a characteristic that the more it is utilized the better off the society is. World Wide Web and Search engines have allowed us to tap into data bases such as Google Scholars and we can find out all the scholarly academic knowledge about a particular sub-discipline of a larger discipline. Technological tools have allowed knowledge to be at the finger tips of both the students and the teachers as well as the practitioners in all parts of the world and the speed of diffusion is going to be further accelerated. The talk about Digital Divide is passà ©. Therefore, the differential among nations and among countries based on comparative advantage in technology is likely to disappear, and there will be a seamless boundary as far as spread of technology is concerned. And those countries which are able to take advantage of these seamless boundaries would be able to do much better than other countries. 4. Related to this is the fourth point i.e. the explosion in information. Younger students who are studying business administration would find that five years from now all that they have learned in their classes, books, reading materials would be outdated. The obsolescence of human knowledge is now going to be as strong as obsolescence of machinery. The machinery-we can lubricate it, we can replace a part, we can change certain processes and make it functional, we can upgrade the machinery. But the up-gradation of human minds requires very complex dynamics. And the human being himself has to be in the driving seat. If the human being, himself or herself is not interested in continuous learning, lifelong education and up-gradation of knowledge the chances are that individual is going to be obsolete and unemployable and that will be a deadweight loss as far as the economy is concerned. And now, how do we incentivize, motivate these individuals to invest in the lifelong continuous learning is a major issue that all of us have to come to grips with. Assessing quality of initial degree and education for purpose of recruitment to the labor force will no longer be the principal preoccupation for HR professionals but recharging the intellectual batteries of their employees over life cycle of professional career will be . It will not be so easy, it is a very complex phenomenon , and extremely difficult to operationalize. We know how to fix a machine even the most sophisticated ones. With human beings, it is next to impossible to fix human mind sets the same way. So this challenge of information explosion and its sifting and transfer to the human minds for the benefit of the firm or the enterprise is going to face us starkly in the future. 5. Fifth, the world is becoming quite conscious of social and environmental values. The headquarters of world’s largest fast moving consumer goods industry Unilever, was besieged by Green Peace volunteers. The reason — Unilever was buying its palm oil from Indonesia, where they had carried out deforestation in order to plant oil palm. This created a huge hue and cry worldwide and Unilever had to pledge itself that it would no longer purchase any supplies originating from deforested areas. It also subscribed to the campaign against deforestation. There are other examples where Nike was stopped to pull out of a country because the shoes were being fabricated by child labor. So the values of environmental sustainability and social responsibility are going to emerge in a globalized economy much sharper. Narmada Dam movement in India was precursor for a new thinking about human resettlement. At that time the forces of globalization were not as strong as today but the awareness which was created by the civil society of India reverberated throughout the world. A powerful institution like the World Bank had to abandon the financing of Narmada Dam, because of the issues of resettlement and displacement of human beings agitated and brought in forefront by the Civil society organizations . Imagine, if there was even a proposal for a dam much smaller than Narmada Dam today how quickly the world community would actually react. Therefore, the adoption of ethical, social and environmental values will have to be integrated to make a more viable business model . Simply, maximizing short term profit maximization for shareholders would no longer be acceptable. Environmental sustainability and Social responsibility have also to be taken into account not just profitability. So this is something whic h we have to integrate in our thinking in the business schools and in the state of the firms. 6. And finally we have seen immense financial integration. We have seen consequence of financial integration in form of 2008-2009 crisis. Even countries like India, Pakistan and China which are not so strongly linked with international financial system , had pursued cautious liberalization and kept Capital Account not totally open were hit by the contagion effect of the crisis which originated in the US. . China and India recovered quite quickly because their economies are quiet resilient. But the fact remains the cost both on the real economy, as well as the human cost of social sufferings are going to be quite large because of financial markets not behaving in some parts of the world. And look at what is happening today. US Fed Reserve is following a very loose monetary policy –Quantitative easing (QE) –and who is suffering as a result of this policy? Countries such as Brazil and India are faced with capital inflows. If they don’t sterilize these capital flows, then they are faced with competitiveness issue. If they sterilize them they have an expansion in money supply causing an inflationary pressure on the economy. So emerging economies with sound economic management are in worst of both the worlds. Therefore how to handle the financial integration and financial markets will require a lot of ingenuity on the part of national economic managers. Let me conclude by submitting that any scenario analysis, which we do, has to take into account the fact that the world ahead is going to be more uncertain. There will be lot of unintended consequences of policies not made in the country but originating from outside the country. Our capacity to react at the national level to global events , the firms’ capacity to respond and the managers’ ability to handle are likely to be the critical success factors. That is what we should be educating our younger management graduates in the future.