Wednesday, October 30, 2019
Customer insight project Research Paper Example | Topics and Well Written Essays - 2500 words
Customer insight project - Research Paper Example Marks & Spencer (M&S) has been providing clothing, home products and food products to customers for over ten years (Wood & Finch, 2009). This period necessitates continued understanding of the customers’ loyalty and how to improve the weak areas. Understanding customers loyalty is crucial to the business management as it assist the management in decision-making (Stafford, 2009; Chislett, 2009; Willsher, 2011). A marketing research was carried out to assess the degree of customers loyalty. The research was strategic with the goals of providing information needed to remain at the top in the market. It was expected to give insights of the customers that could be used by the business manager to improve the business market power. This work reports findings from the marketing research conducted. The aim of the study was to understand and improve customer loyalty for Marks & Spencer (M&S) on the service delivery and products offered. In meeting the goal of the research, the study seeks to answer the question "how do services and product quality offered enhance customer loyalty for Marks & Spencer†? The core goal of the study was to understand customer’s loyalty and how to improve the degree even further in regard to Marks & Spencer products. The study proposes the following specific objectives. This study was a qualitative market research executed through a market survey. Semi-structured questionnaires were administered to the selected respondents through face-to-face interviews between them and the trained enumerators. The above ensures collection of accurate data from the respondents interviewed (Saunders, Lewis & Thornhill, 2012). Questionnaires with Likert scale scales employed with the aim of quantifying how product and service provision enhances customer loyalty in regard to Marks & Spencer. The questionnaire included an introductory section, a detailed description of Mark & Spencer and the aim of the study. The questionnaire also
Monday, October 28, 2019
Female Acceptance into a Computer Based Society Essay Example for Free
Female Acceptance into a Computer Based Society Essay INTRODUCTION            Advancement on technology had brought different changes into the society. These aims to provide additional comfort and making things work more efficiently. But there are changes that people cannot prevent to happen. These are biological changes such as getting old.            People respond to the aging process as a negative thing. Misconceptions arises that lead to common negative behavior towards the aging process. Getting old is a natural process. Anti-aging solutions are invented to prevent physical changes that it may cause like gray hair and wrinkles.            Its no secret that our bodies change as we age. Physical as well as psychological changes as effect of aging can be experienced.  Some changes are obvious, while others are more subtle. Others, may experience the effects of osteoporosis and osteoarthritis, which can gradually diminish their abilities to participate fully in activities. While there are still people age comfortably and remain active, alert and vibrant throughout their lives. Their physiologic age may be quite younger than their chronological age.            Because of the negative connotation on the process of aging, women who are known to be more conscious than men generally find it an issue to accept aging as a natural process of life. OBJECTIVES This study aims to discuss the impact of aging to the female group given in a modern and more advance society. This will provide description on how female cope, adapt and react to the aging process. SCOPE AND DELIMITATION            The research covers the issue of aging on female point of view. . It also provide an overview on what is aging and the physical and mental changes it bring to a person. This also identify some misconceptions about aging. SIGNIFICANCE            The study is significant to discuss the impact of aging to women. It identifies the reasons on how the female gender response to the stage of aging. It discusses the common misconceptions regarding aging that can be properly addressed. This study is also significant for future researches related to the topic. RELATED LITERATURE Misconceptions on Aging There are a lot of misconceptions about getting old. It is a negative connotation that aging means getting near to the end of growth. And that old age is a lonely stage of life. It is also a misconception that when one is old, he/she believes that there are only limited to certain activities especially in the physical aspect. One fears getting old because of the fear of loosing independence. Another misconception is that people think that the happy days of their lives were experienced when they are young. According to a recent study shown, these several misconceptions vary from the reality regarding the issue of aging.  The research was conducted by VA Ann Arbor Healthcare System and University of Michigan researchers to 540 adults who were between the ages of 21 and 40, or over age 60 . They were asked to rate their level of happiness through answering questions. The results are published in the June issue of the Journal of Happiness Studies, a major research journal in the field of positive psychology. There is a stereotype existing between the old and young in the society. One thinks that the happy days of his/her life happens only when he/she is young.            In another research by Linda M. Woolf, Ph.D., the concept of ageism was examined between younger and older men and women in the present study. It was entitled â€Å"Effects of Age and Gender on Perceptions of Younger and Older Adults†. The study discusses the older adults are perceived more negatively than younger adults. Through gender interaction effect, a significant age by was found. Both younger and older men rated stimulus older adults significantly less positively than stimulus younger adults. However, older women rated stimulus older adults significantly more positively than they rated other stimulus-age groups. Older women were the only subject group that did not exhibit a consistent negative bias against older adults. Conversely, younger women rated stimulus older adults more negatively than any subject group. Biological Effects            The effects of aging are obvious on the body. Our body is made up of cells and tissues that keep on regenerating and replenishing to keep our body sustaining. As we grow old, this process decreases where replacement of old to new cells are slowing causing the signs of aging to appear.  Physical changes like poor hearing and declining vision takes place. The strength of muscles lessens due to soft tissues like skin and blood vessels that became less flexible are some general changes that occur in the human body as it ages. Skin starts to become dry and wrinkled. It looses its elasticity and the glands function less so sweating occurs lesser than the usual. Moreover, there is an overall decline in body tone that can be observed. The body’s performance becomes less efficient. Not all people experience decreased organ function to the same degreeâ€â€some individuals are healthier due to good diet and exercise when they are younger. Aging also affects the immune system of a person. Human antibody lessens their act against free radicals. The immune system also changes with age. The antibodies, disease-fighting proteins, protect the body against bacteria, viruses, and other harmful agents in a healthy immune system. A healthy immune system also prevents the growth of abnormal cells, which can become cancerous. With advancing age, the ability of the immune system to carry out these protective functions is diminishedâ€â€the rate of antibody production may drop by as much as 80 percent between age 20 and age 85. This less-effective immune system explains why a bout of influenza, which may make a young adult sick for a few days, can be fatal for an elderly person.            For females, these changes on the body due to the advancement of age have a greater issue.  Aging causes changes on the physical aspect of a person and one of the major effects of aging occurs in the female reproductive system. With aging, a womans breasts lose tissue and subcutaneous fat, reducing breast size and fullness. There is also a decrease in the number of mammary ducts. The breasts lose support. Aging breasts commonly flatten and sag, and the nipple may turn in slightly. The areola (the area surrounding the nipple) becomes smaller and may nearly disappear. Loss of hair around the nipple is common. Breast cancer risk increases with age. Women should perform monthly breast self-examinations. However, because breast self-exams do not always pick up early stages of breast cancer, women should also talk to their health care providers about mammograms. It also affects the fertility cycle of a woman. Menopausal stage takes place on about age 45 to age 55 of a female where the ovaries does not longer produce egg cells. This means that she can no longer bear a child. This is also the end of the menstrual cycle since there is no longer the release of sexual hormones that motivates the cycle. Although the average onset of menopause occurs in the early part of the sixth decade there is an observable, real and significant decline in the 10 to 15 years before menstruation ceases. Scientific studies on natural populations (those with high marital rates and no birth control) and on â€Å"infertility populations†all confirm the presence of an age related decline in female fertility independent of all other factors. This effect becomes most prominent after age 35.            Aging cause loss of female fertility. Although menstrual irregularities generally begin to show in the last half of the 5th decade (a time termed perimenopause) there is a marked decrease in fertility in the 10 years preceding this that appears to be independent of male or pelvic factors and despite the occurrence of regular menstrual cycles and ovulation. Similarly a decrease in success rates for IVF is seen in this population as well. The discussion then seems to focus on whether this decrease in fertility is due to ovarian factors, uterine factors or both. In other mammals there does appear to be a host of age related uterine changes that do limit fertility however, initial studies in humans failed to show consistent aging changes. Furthermore it now seems that the endometrium of an ovulatory older woman with appropriate levels of estradiol and progesterone should be able to be appropriately receptive to and supportive of implantation.            The catch here is that as we age, even while still regularly menstruating, there are subtle shifts in hormonal patterns that may make the endometrium less receptive. As an example, luteal phase defect is far more common at the edges of reproductive life (very young, very old, newly delivered) but progesterone supplementation, which in theory should overcome the defect, does not appear to have made a significant difference in pregnancy rates for older women. More compelling support for the idea that the problem is primarily ovarian in nature comes from the fact that pregnancy rates for younger women and older women undergoing IVF with donor eggs are quite comparable. There are however, still some questions about uterine receptivity and study is ongoing in attempts to isolate out the effect of the â€Å"older uterus†from the effect of aging eggs of poor quality.            The bottom line for now seems to be that although everyone agrees that egg quality and ovarian reserve definitely decline with age and are perhaps the primary factors causing an age related decrease in female fertility, there may be uterine factors in play as well. Further study to elucidate the mechanisms at work and, hopefully, to devise new treatment options are indicated. A number of other studies investigates the effects of aging. Scientists have found, for example, a possible explanation for why women have longer average life spans than men. The difference seems to be biologically determined, and male and female sex hormones are probably responsible. The blood levels of female sex hormones drop sharply during menopause. At that time, the incidence of heart disease and high blood pressure in women increases to match the incidence in men, suggesting that the presence of female sex hormones offers some protection against heart disease. Aging Population            In developed nations, life expectancy has increased more in the 20th century than it has in all of recorded history. A person born in the United States in 1995 can expect to live more than 35 years longer than a person born in 1900. Today more than 34 million Americans are 65 or older, accounting for about 13 percent of the population. By the year 2030, their numbers will more than double: One in every five Americans will be over age 65. A person who lives 100 years or moreâ€â€a centenarianâ€â€was once a rarity, but today about 60,000 Americans are 100 years or older. By the year 2060, there may be as many as 2.5 million centenarians in the United States. The number of supercentenariansâ€â€people 105 years of age and olderâ€â€will probably be as commonplace in the next century as centenarians are fast becoming now. How to Counteract with Aging            Knowing what to expect and taking steps to counterbalance the effects of aging can help you maintain a young spirit and an independent life. A healthy diet, regular exercise program and positive attitude can help delay the onset and slow the progression of many age-related changes. Many of the changes in our musculoskeletal system result more from disuse than from simple aging. Fewer than 10 percent of Americans participate in regular exercise, and the most sedentary group is over age 50.            Stretching is an excellent way to help maintain joint flexibility. Weight training can increase muscle mass and strength, enabling people to continue their daily routine activities without maximal exertion. Even moderate amounts of physical activity can reduce your risk of developing high blood pressure, heart disease and some forms of cancer.            Much recent research has been conducted on the effects of exercise on aging. In all of the studies described above, exercise had positive effects on aging. It has been found to increase reaction time, assist in predicting good aging, and improve psychological well-being. Factors such as health, social support, efficacy, and motivation are indicators of the maintenance of exercise. One should acknowledge the factors influencing exercise, recognize the numerous benefits of exercise, and take action at any age in order to live a more healthy and happy life now and in old age. Long-term regular exercises may slow the loss of muscle mass and prevent age-associated increases in body fat. Exercise also helps maintain the bodys response time, as well as its ability to deliver and use oxygen efficiently. Just 30 minutes of moderate activity, incorporated into your daily routine, can provide health benefits. An exercise program doesnt have to be strenuous to be effective. Walking, square dancing, swimming and bicycling are all recommended activities for maintaining fitness into old age. The 30 minutes of moderate activity can be broken up into shorter periods; you might spend 15 minutes working in the garden in the morning and 15 minutes walking in the afternoon. It all adds up. But if youve never attempted an exercise program before, be sure to see your doctor before starting one now. Psychological Aging            Behavioral medicine research over the past several years has identified a umber of psychosocial characteristics that affect the development and course of a wide range of life-threatening illnesses. Included among these psychosocial risk factors are hostility, depression, social isolation, high job strain, and low socioeconomic status. The specific mechanisms whereby these factors influence the patho genesis and prognosis of major causes of death such as coronary heart disease (CHD) and cancer have not been identified yet, but considerable research points to accompanying health behaviors (smoking, dietary habits, and alco hol consumption) and biological characteristics (altered functions of the sym pathetic and parasympathetic nervous systems [SNS, PNS], of the hypothal amic-pituitary-adrenal [HPA] axis, and of the immune system) as likely mediators. Finally, research evaluating interventions targeting psychosocial risk factors in groups of patients with CHD and cancer offer considerable promise that secondary prevention will be shown to have an important place in the treatment and rehabilitation of major chronic diseases . Anti-aging can be a difficult topic to address. A war is currently being fought over the meaning of anti-aging (as research, medicine, brand, or simply adjective) and thus even mentioning the term is likely to prejudice many readers. Defining Anti-Aging            Like it or not, anti-aging now has a number of quite different common meanings and connotations. Each is championed by a particular group or loose coalition of interests, but advocates for these groups have a way of diving into the fray without defining their terms. This makes reading about anti-aging techniques, technologies, medicine, products, and debates very confusing for the newcomer.            For the scientific community, anti-aging research refers exclusively to slowing, preventing, or reversing the aging process. There is, as of 2007, no medical technology that allows this to be done although the jury is still out on calorie restriction in humans. Nor is there any currently available method (short of waiting for people to die) to accurately measure the effects of an alleged anti-aging therapy. In the medical and more reputable business community, anti-aging medicine means early detection, prevention, and reversal of age-related diseases. This is quite different from tackling the aging process itself, and a wide array of strategies and therapies are currently available. Calorie restriction, for example, is a demonstrated way to lower risk for a wide range of age-related degenerative conditions. The wider business community including a great many fraudulent and frivolous ventures views anti-aging as a valuable brand and a demonstrated way to increase sales. At the worse end of the scale, this leads to snake oil salesmen, anti-aging creams that may or may not make your skin look younger, and infomercials that tout the anti-aging benefits of exercise machines. Broadly, and very charitably, we can look at these varied definitions of anti-aging as meaning to look and feel younger in some way which has no bearing on how long you live or how healthy you actually are.            The confusion of most interest is between the first two definitions. Many interventions lengthen life span for individuals by preventing or curing specific age-related diseases that would otherwise prove fatal. For example, ask yourself whether preventing heart disease or diabetes is anti-aging medicine. This would have no effect on the aging process, but it would help many people to live longer, healthier lives. Is this anti-aging research? Scientists say no, some medical and business groups say yes.            Aging is such a bad word in our society. We dont want to see old people, much less sit next to them. Even old people dont like to be around other old people.But maybe the reason that many seniors cant embrace their golden years is that they have never had it modeled for them. People today just live longer. The fastest growing segment in todays society is those 85 and older. Its a whole new ballgame for seniors today. A lot are unsure what to do or whats expected of them. In some ways, were pioneers showing younger folk what to do and what they can do when they are this age. Indeed, the work of a person growing old is that of becoming an elder, discovering spiritual treasures and passing them along to others. Despite physical limitations, there are many positives about aging, including more time to be spent in meditation and prayer, working on a closer connection to God and selves. That meditative work can encourage elders to review their lives, see how they made a difference as well as bringing up old wounds and pains. Its here that seniors need to work on forgiving others, themselves and God as they let go of past hurts, grudges and pains. AGING ON FEMALE’S PERSPECTIVE Response to Physical Changes It is a much issue for women when they feel they get old considering females to be a more conscious gender when it comes to the physical aspect. After discussing the physical changes that it can bring, without proper caring, one’s body can be a total wreck. Another issue that aging brought is that it lessen one’s self esteem. Women are conscious of their age. Youth implies beauty. Something that one tries to preserve while she is still has the youthfulness. That is why anti aging creams, pills etc. are in demand to most women. For example, there is a preference of choosing a younger female.            As women age their concerns about health growâ€â€and rightfully so given that women are at greater risks for some health conditions. For example, according to the Illinois Department on Aging, heart disease is the No. 1 leading cause of death among older women. Women are twice as likely as men to die within the first year of having a heart attack. The second leading cause of death for women is cancerâ€â€specifically lung and breast cancerâ€â€and the third leading cause of death is stroke. Women who have hypertension or diabetes are at greater risk for heart disease and strokes.            Like all women, lesbians are at risk for health problems associated with aging. Some evidence suggests that they may even be at greater risk for some age-related health problems. For example, because lesbians as a group are less likely to have been pregnant, more likely to drink alcohol and smokeâ€â€and more likely to be overweightâ€â€their risk of breast cancer may be greater than the risk among women in the general population. However, we need much more research before we can say much of anything for sure about lesbians’ risks for breast cancer or the other leading causes of death.            In the Chicago Health and Life Experiences of Women (CHLEW) study we are collecting information about these and many other health concerns of lesbians. We are happy to report that, in general, the 450 lesbians in our study are overall very healthyâ€â€in fact, when we first interviewed them in 2000-2001, 74% of them rated their health as good or excellent; only 7% said that their health was poor. Very few women in the study reported being diagnosed with breast cancer , heart disease, or diabetes. However, 17% said that they have high blood pressure (hypertension). One of the reasons for these low rates of problems is that the women are relatively youngâ€â€the average age of the women in the study is 39 years (only about a quarter of them are over 45 years old). As they get older, lesbians, like other women, face higher risk for these serious health problems. Because we have not yet discovered the cure for aging it is important that we take care of ourselves in order to reduce these risks and improve our overall quality of life. Among the most important ways that we can take care of ourselves include getting regular exercise, not smoking, and using sodium (salt) and alcohol in moderation. Some misconceptions of women and the truth            The older I get, the worse my body will feel. The increasing stiffness and aches pains that often come with age are not a result of age, but are due to lack of movement. Although there are some changes in the tissues in the process of aging, one can continue to remain remarkably flexible and free of pain through something as simple as regular stretching.            Its too late to start taking care of myself it wont do any good at this age. A healthy lifestyle has been found to be one of the most important factors in how people age. Improvements in lifestyle (with the 3 key areas being good food, exercise and regular relaxation and rest) will bring improvements at any age.            Im getting too old to learn new things Research shows that older people can, and do, learn new things. Attitude plays an important role. People who believe they can learn new things do.            Sex is only for the young. People can, and do, continue to enjoy sex well into their senior years. People are sexual beings throughout the life cycle, but sexuality is experienced differently at different ages. Changes in hormones affects the experience of sex, and one may need to find different ways to be intimate. Relaxation is key here so that we dont panic when things dont happen the way they used to. Aging does not imply that they are too old for sex but simply they need to give themselves some breathing room to become familiar with our changing physiologies.            The older I get, the less attractive I become. There is nothing more attractive than someone who has aged well. There is a special radiance in a elderly person who is at peace with themselves and life. Attractiveness has absolutely nothing to do with age. Its never too late to change the two most important ingredients to graceful aging attitude and lifestyle.  At the risk of sounding like a broken record to those of you whove read my previous articles there are two very simple but essential lifestyle ingredients for successful aging -relaxation and stretching.   References: http://www.hope.edu/academic/psychology/335/webrep2/ageexercise.htm http://www.chinadaily.com.cn/lifestyle/2006-06/17/content_619419.htm http://www.chinadaily.com.cn/lifestyle/2006-06/17/content_619419.htm http://www.webster.edu/~woolflm/ageismwoolf.html http://www.seniorwomen.com/articles/articlesElginOld.html http://www.riversidehealth.com/articles/aging.htm http://orthoinfo.aaos.org/fact/thr_report.cfm?Thread_ID=224topcategory=Wellness http://infertility.about.com/cs/femalefactors/a/femaleage.htm
Saturday, October 26, 2019
European Trade Routes 1100-1500 Essay -- essays research papers
If there was ever an important period historians, and people could put a finger on, this would be it. This is the important period where the world’s countries, kingdoms, and dynasties established trade routes. This is the period where countries were made and countries were destroyed because of the importance of trade and the importance of building a fundamental, religious, and economical way of life. This paper will discuss the goals and functions of trades, and traders, and a historical analysis of world trade. This paper will also get into world trade patterns, of The Americas, Sub-Saharan Africa, The Indian Ocean, The Silk routes, China and The South China Sea, Europe and The Mediterranean, and The Atlantic Exploration.      The goals and functions of world trade today vary from when it started. Long distance trading today is a big part of everyday life for us. Most of our products, as you can see, come from China, Japan, Italy and other places across the ocean. Where would we be today if long distance trading wasn’t a part of everyday life? Asia and Europe play a huge part in our lives, and in what we eat, function with, and for children, play with. When long distance trading first started, it wasn’t as important as it is now. Traders mostly supplied goods for the rich who could afford these valuable goods, and afford the long distance accommodations. Supplies like gold, spices, silks, and others were sold to the rich and they were valued depending on weight and distance of the trade. A large part of the exchange economy was local, dealing with crops, and local manufactured products. The only problem with this was that it wasn’t pricey and it didn’t weigh much compared to long distance supplies, which made it difficult to make any profit whatsoever. Sometimes, to help out locals and the upper echelon, goods were traded for other goods instead of money. The most important part of trade was having a market to trade with. If there was no market, there was no business, and if there is no business there was no jobs, and money coming in for locals in that area. (The Worlds History, Spodek, 2001, Ch. 12)      Free market economy, which is still tremendously popular today, as it was when trade first started, is a big part of trade. Free market economy is when traders seek personal benefits by buying supplies an... ...acteriaceae. It is the infectious agent of bubonic plague, and can also cause pneumonic plague and septicemic plague.†(http://en.wikipedia.org/wiki/Pasteurella_pestis) In 1331 the infection entered China and began to spread, killing enormous amounts of people. This plague wiped out half of China since the Mongols passed through, and because this plague was so horrific, Mongol power weakened as a result of this. Europeans had no immunity toward new diseases, thus wiping out 1/3 of the population that swept across the continent. (The Worlds History, Spodek, 2001, Ch. 12)      When you talk trade, and the foundations of powerful dynasties, you think China. When Marco Polo finally arrived in China in 1275, he described the ruler, Kublai Khan as the mightiest man. China was so advanced with riches, elements, and respect from underlings, that any of these could describe the comments Marco Polo had for Kublai Khan. Still, silk, porcelain, and tea, Chinas greatest products, attracted merchants from all around the world looking to trade.                    Â
Thursday, October 24, 2019
Cacther In The Rye Essay -- essays research papers
JD Salinger, also known as Jerome David Salinger, is an American novelist and short story writer. Critics and readers alike recognize Salinger as one of the most popular and influential writers. His only novel, The Catcher in the Rye, drew such great attention during the fifties and sixties that those years have been called the age of Holden Caulfield (Contemporary Literary Critiscm, Vol. 12). Salinger is a master of contemporary dialect and idiomatic expression. He created in Holden Caulfield a character who became the prototype of alienated adolescence for an entire generation of Americans. The Catcher in the Rye has been banned even recently from a few libraries, schools, and bookstores for the starkness of its language and attitudes and the realism of some of its settings.      Although Salinger has fallen out of critical favor because of his sentimentality, it is generally agreed that Catcher has yet to be surpassed in its portrayal of the pains and pleasures of a youth searching for love and direction. In all his work Salinger draws upon the experience of his own life. For instance, his parents shared the same backgrounds as do those of his fictive Glass family. An undistinguished student, Salinger flunked out of private high school. His family sent him to Valley Forge Military Academy, the model the Catcher’s Pencey Prep (Contemporary Literary Criticism Vol. 3).      The protagonist of The Catcher in the Rye, Holden Caulfield, is one of these American heroes, but with a significant difference. He seems to be engaged in both sorts of quests at once; he needs to go home and he needs to leave it. Unlike the other American knight errants, Holden seeks Virtue second to love. He wants to be good. When the little children are playing in the rye-field on the clifftop, Holden wants to be the one who catches them before they fall off the cliff. Like these American heroes, Holden is a wanderer, for in order to be good he has to be more of a bad boy than the puritanical Huck could have imagined. Holden has had enough of both Hannibal, Missouri, and the Mississippi; and his tragedy is that when he starts back up the river, he has no place to go- save, of course, a California psychiatrist’s couch (Contemporary Literary Criticism, Vol. 12).      Holden’s quest takes him outside socie... ...oment always becoming a segment of the past. Holden views his life as being in a state of continual change. Since a developed intellect is needed to realize immutable conceptions, and since Holden’s â€Å"thinking†is limited to his sense of the mutability of life, Holden remains trapped within time, unable to recognize anything permanent in human existence (Contemporary Literary Criticism, Vol. 5).      One might conclude by stressing that Holden is talking, not to an analyst, but to you, the reader. Holden is talking directly to anyone who might be as â€Å"troubled morally and spiritually†as Holden was about the nature of this world in which everyone exists. He offers his narration of The Catcher in the Rye as a record of his troubles for anyone who might wish to learn from his experiences. As Mr. Antolini says, â€Å"It’s a beautiful reciprocal arrangement. And it isn’t education. It’s history. It’s poetry.†(Contemporary Literary Criticism, Vol. 12)      Work cited Contemporary Literary Criticism, Vol. 3 Contemporary Literary Criticism, Vol. 8 Contemporary Literary Criticism, Vol. 12 Contemporary Literary Criticism, Vol. 5
Wednesday, October 23, 2019
Different Approach of International Business
Different approach of International Business In truth, we have become part of a global village and have a global economy where no organization is insulted from the effects foreign markets and competition. Indeed, more and more firm are reshaping themselves for international competition and discovering new ways to exploit markets in every corner of the world. Failure to take a global perspective in one of the biggest mistakes managers can make. Thus we start laying the foundation for our discussion by introducing and describing the basic of international business. International Business: An international business is one that is based primarily in a single country but acquires some meaningful share of its resources or revenues (or both) from other countries. Sears fits this description. Most of its stores are in the United States. For example, and the retailer earns around 90 percent of its revenues from its U. S. operation with the remaining 10 percent coming sears stores in Canada. At the same time however, many of the products it sells, such as tools and clothing are made abroad from any perspective. Then it is clear that we live in a truly global economy. Virtually all business today must be concerned with the competitive situations they face in lands for from home and with how companies from distant lands are competing in their homelands. Difference approaches of international business are given below: †¢ Importing and Exporting †¢ Franchising †¢ Licensing †¢ Joint Venture †¢ Foreign Direct Investment †¢ Management contact Importing and Exporting: Imports: Imports†consist of transactions in goods and services (sales, barter, gifts or grants) from non-residents residents to residents. The exact definition of imports in national accounts includes and excludes specific â€Å"borderline†cases. A general delimitation of imports in national accounts is given below: †¢ An import of a good occurs when there is a change of ownership from a non-resident to a resident; this does not necessarily imply that the good in question physically crosses the frontier. However, in specific cases national accounts impute changes of ownership even though in legal terms no change of ownership takes place (e. g. ross border financial leasing, cross border deliveries between affiliates of the same enterprise, goods crossing the border for significant processing to order or repair). Also smuggled goods must be included in the import measurement. †¢ Imports of services consist of all services rendered by non-residents to residents. In national accounts any direct purchases by residents outside the economic territory of a country are recorded as imports of services; therefor e all expenditure by tourists in the economic territory of another country are considered as part of the imports of services. Also international flows of illegal services must be included. Basic trade statistics often differ in terms of definition and coverage from the requirements in the national accounts: †¢ Data on international trade in goods are mostly obtained through declarations to custom services. If a country applies the general trade system, all goods entering the country are recorded as imports. If the special trade system (e. g. extra-EU trade statistics) is applied goods which are received into customs warehouses are not recorded in external trade statistics unless they subsequently go into free circulation of the importing country. A special case is the intra-EU trade statistics. Since goods move freely between the member states of the EU without customs controls, statistics on trade in goods between the member states must be obtained through surveys. To reduce the statistical burden on the respondents small scale traders are excluded from the reporting obligation. †¢ Statistical re cording of trade in services is based on declarations by banks to their central banks or by surveys of the main operators. In a globalized economy where services can be rendered via electronic means (e. . internet) the related international flows of services are difficult to identify. †¢ Basic statistics on international trade normally do not record smuggled goods or international flows of illegal services. A small fraction of the smuggled goods and illegal services may nevertheless be included in official trade statistics through dummy shipments or dummy declarations that serve to conceal the illegal nature of the activities. Balance of trade Balance of trade represents a difference in value for import and export for a country. A country has demand for an import when domestic quantity demanded exceeds domestic quantity supplied, or when the price of the good (or service) on the world market is less than the price on the domestic market. The balance of trade, usually denoted NX, is the difference between the value of the goods (and services) a country exports and the value of the goods the country imports: NX = X ? I, or equivalently I = X ? NX A trade deficit occurs when imports are large relative to exports. Imports are impacted principally by a country's income and its productive resources. For example, the US imports oil from Canada even though the US has oil and Canada uses oil. However, consumers in the US are willing to pay more for the marginal barrel of oil than Canadian consumers are, because there is more oil demanded in the US than there is oil produced. In macroeconomic theory, the value of imports I can be modeled as a function of the domestic absorption A and the real exchange rate ?. These are the two largest factors of imports and they both affect imports positively: I = I(A,? ) Types of import There are two basic types of import: 1. Industrial and consumer goods 2. Intermediate goods and services Companies import goods and services to supply to the domestic market at a cheaper price and better quality than competing goods manufactured in the domestic market. Companies import products that are not available in the local market. There are three broad types of importers: 1. Looking for any product around the world to import and sell. 2. Looking for foreign sourcing to get their products at the cheapest price. 3. Using foreign sourcing as part of their global supply chain. Direct-import refers to a type of business importation involving a major retailer (e. g. Wal-Mart) and an overseas manufacturer. A retailer typically purchases products designed by local companies that can be manufactured overseas. In a direct-import program, the retailer bypasses the local supplier (colloquial middle-man) and buys the final product directly from the manufacturer, possibly saving in added costs. This type of business is fairly recent and follows the trends of the global economy. Role of the Internet Many online auction websites are now providing wholesalers through a wholesale list, generally, the lists that require a fee to view, may not be updated frequently, the data may be old, and the companies listed may no longer be in business. Another form of online middlemen are B2B trade companies. These cater mainly to big businesses who are importing large quantities of goods from foreign countries. They also have sister sites that serve smaller orders for small businesses. In addressing the concerns of listed companies' legitimacy and dependability, such B2B portals may inspect suppliers at their actual premises before they list suppliers. Alternatively, these companies may also branch out of cyberspace and organize their own sourcing fairs, where thousands of buyers and suppliers can meet face-to-face. Statistical data Data on the value of imports and their quantities often broken down by detailed lists of products are available in statistical collections on international trade published by the statistical services of intergovernmental organizations (e. g. UNSTAT, FAOSTAT, OECD), supranational statistical institutes (e. g. Eurostat) and national statistical institutes. Exports: The definition of â€Å"export†is when you trade something out of the country. In economics, an export is any good or commodity, transported from one country to another country in a legitimate fashion, typically for use in trade. In national accounts â€Å"exports†consist of transactions in goods and services (sales, barter, gifts or grants) from residents to non-residents. The exact definition of exports includes and excludes specific â€Å"borderline†cases. A general delimitation of exports in national accounts is given below: †¢ An export of a good occurs when there is a change of ownership from a resident to a non-resident; this does not necessarily imply that the good in question physically crosses the frontier. However, in specific cases national accounts impute changes of ownership even though in legal terms no change of ownership takes place (e. . cross border financial leasing, cross border deliveries between affiliates of the same enterprise, goods crossing the border for significant processing to order or repair). Also smuggled goods must be included in the export measurement. †¢ Export of services consist of all services rendered by residents to non-residents. In national accounts any direct purchases by non-residents in the economic territory of a country are recorded as exports of services; therefore all expenditure by foreign tourists in the economic territory of a country is considered as part of the exports of services of that country. Also international flows of illegal services must be included. Process Methods of export include a product or good or information being mailed, hand-delivered, shipped by air, shipped by boat, uploaded to an internet site, or downloaded from an internet site. Exports also include the distribution of information that can be sent in the form of an email, an email attachment, a fax or can be shared during a telephone conversation. Advantages of exporting Ownership advantages are the firm's specific assets, international experience, and the ability to develop either low-cost or differentiated products within the contacts of its value chain. The vocational advantages of a particular market are a combination of market potential and investment risk. Internationalization advantages are the benefits of retaining a core competence within the company and threading it though the value chain rather than obtain to license, outsource, or sell it. In relation to the Eclectic paradigm, companies that have low levels of ownership advantages either do not enter foreign markets. If the company and its products are equipped with ownership advantage and internalization advantage, they enter through low-risk modes such as exporting. Exporting requires significantly lower level of investment than other modes of international expansion, such as FDI. As you might expect, the lower risk of export typically results in a lower rate of return on sales than possible though other modes of international business. In other words, the usual return on export sales may not be tremendous, but neither is the risk. Exporting allows managers to exercise operation control but does not provide them the option to exercise as much marketing control. An exporter usually resides far from the end consumer and often enlists various intermediaries to manage marketing activities. Disadvantages of exporting For Small-and-Medium Enterprises (SME) with less than 250 employees, selling goods and services to foreign markets seems to be more difficult than serving the domestic market. The lack of knowledge for trade regulations, cultural differences, different languages and foreign-exchange situations as well as the strain of resources and staff interact like a block for exporting. Indeed there are some SME's which are exporting, but nearly two-third of them sell in only to one foreign market. The following assumption shows the main disadvantages: †¢ Financial management effort: To minimize the risk of exchange-rate fluctuation and transactions processes of export activity the financial management needs more capacity to cope the major effort †¢ Customer demand: International customers demand more services from their vendor like installation and startup of equipment, maintenance or more delivery services. Communication technologies improvement: The improvement of communication technologies in recent years enable the customer to interact with more suppliers while receiving more information and cheaper communications cost at the same time like 20 years ago. This leads to more transparency. The vendor is in duty to follow the real-time demand and to submit all transaction details. †¢ Management mistakes: The management might tap in some of the organi zational pitfalls, like poor selection of oversea agents or distributors or chaotic global organization. Ways of exporting The company can decide to export directly or indirectly to a foreign country. Direct selling in export strategy Direct selling involves sales representatives, distributors, or retailers who are located outside the exporter's home country. Direct exports are goods and services that are sold to an independent party outside of the exporter’s home country. Mainly the companies are pushed by core competencies and improving their performance of value chain. Direct selling through distributors It is considered to be the most popular option to companies, to develop their own international marketing capability. This is achieved by charging personnel from the company to give them greater control over their operations. Direct selling also give the company greater control over the marketing function and the opportunity to earn more profits. In other cases where network of sales representative, they company can transfer them exclusive rights to sell in a particular geographic region. A distributor in a foreign country is a merchant who purchases the product from the manufacturer and sells them at profit. Distributors usually carry stock inventory and service the product, and in most cases distributes deals with retailers rather than end users. Evaluating Distributors †¢ The size and capabilities of its sales force. †¢ Its sales record. †¢ An analysis of its territory. †¢ Its current product mix. †¢ Its facilities and equipment. †¢ Its marketing polices. †¢ Its customer profit. †¢ Its promotional strategy. Direct selling through foreign retailers and end users Exporters can also sell directly to foreign retailers. Usually, products are limited to consumer lines; it can also sell to direct end users. A good way to generate such sales is by printing catalogs or attending trade shows. Direct selling over the Internet Electronic commerce is an important mean to small and big companies all over the world, to trade internationally. We already can see how important E-commerce is for marketing growth among exporters companies in emerging economies, in order to overcome capital and infrastructure barriers. E-commerce eased engagements, provided faster and cheaper delivery of information, generates quick feedback on new products, improves customer service, accesses a global audience, levels the field of companies, and support electronics data interchange with suppliers and customers. Indirect selling Indirect exports, is simply selling goods to or through an independent domestic intermediary in their own home county. Then intermediaries export the products to customers foreign markets. Making the export decision Once a company determines it has exportable products, it must still consider other factors, such as the following: †¢ What does the company want to gain from exporting? †¢ Is exporting consistent with other company goals? †¢ What demands will export place on the company's key resources – management and personnel, production capacity, and finance – and how will these demands be met? Are the expected benefits worth the costs, or would company resources be better used for developing new domestic business? Challenges Exporting to foreign countries poses challenges not found in domestic sales. With domestic sales, manufacturers typically sell to wholesalers or direct to retailer or even direct to consumers. When exporting, manufacturers may have to sell to importers who then in turn sell to wholesalers. Extra layer(s) in the chain of distribution squeezes margins and manufacturers may need to offer lower prices to importers than to domestic wholesalers. Franchising Why choose franchising? Although many people dream about running their own business, few actually possess the experience or the capital needed to turn that dream into a reality. Franchising however, is a comfortable alternative to running a business entirely on your own. After purchasing a franchise license, you're ready to set up a business for yourself – but not by yourself. What is franchising? The term ‘franchising' can describe some very different business arrangements. It is important to understand exactly what you're being offered. Advantages Independence: You are your own boss, the business’ success depends on you and you will spend a big part of your life surrounded by learning children. †¢ [pic][pic]Minimized risk: A team of experienced business people with a vested interest in your success is waiting to guide you through the process: From writing a yearly Business Plan, through choosing the best marketing tactics to defining your commer cial goals. †¢ Brand recognition: Helen Doron Early English is an internationally acknowledged and respected brand, granting you a strong position in the market from day one. Thorough training: Our intensive training courses prepare you with the highest level of organizational, business, administrative and pedagogic know-how. †¢ On Going support: Even after the first few months, the business team is always there to offer advice and support. †¢ Educational excellence: Teaching English to children with the Helen Doron Early English method ensures that your students will be fluent speakers and thus have access to better education and professions Disadvantages †¢ Costs may be higher than you expect. As well as the initial costs of buying the franchise, you pay continuing management service fees and you may have to agree to buy products from the franchisor. †¢ †¢ The franchise agreement usually includes restrictions on how you run the business. You might not be able to make changes to suit your local market. †¢ †¢ The franchisor might go out of business. †¢ †¢ Other franchisees could give the brand a bad reputation. †¢ †¢ You may find it difficult to sell your franchise – you can only sell it to someone approved by the franchisor. †¢ †¢ All profits are shared with the franchisor Business format franchise This is the most common form of franchising. A true business format franchise occurs when the owner of a business (the franchisor) grants a licence to another person or business (the franchisee) to use their business idea – often in a specific geographical area. The franchisee sells the franchisor's product or services, trades under the franchisor's trade mark or trade name and benefits from the franchisor's help and support. In return, the franchisee usually pays an initial fee to the franchisor and then a percentage of the sales revenue. The franchisee owns the outlet they run. But the franchisor keeps control over how products are marketed and sold and how their business idea is used. Well-known businesses that offer franchises of this kind include Prontaprint, Dyno-Rod and McDonald's. Other types of arrangement Different types of sales relationships are also sometimes referred to as franchises. For example: †¢ Distributorship and dealership – you sell the product but don't usually trade under the franchise name. You have more freedom over how you run the business. †¢ Agency – you sell goods or services on behalf of the supplier. Licensee – you have a licence giving you the right to make and sell the licensor's product. There are usually no extra restrictions on how you run your business. Multi-level marketing Some businesses offer franchises that are really multi-level marketing. Self-employed distributors sell goods on a manufacturer's behalf. You get commission on any sales you make , and also on sales made by other distributors you recruit. Be aware that some multi-level marketing schemes may be dishonest or illegal Pizza hut †¢ Are your core business processes falling through the cracks in a flood of E-mail? Does your small or medium business have to coordinate with people in several other companies and with freelancers? †¢ Not sure where work is getting stuck in the pipeline? †¢ Ever forgotten to send or chase up an invoice? It’s a commonplace that business owners should work on their business, not in it. Businesses need architecting and structuring in the same way as software does, so that they can run without you; the best way to do that is through careful design and automation of the underlying processes. Becoming a member of the New Rich is not just about working smarter. It’s about building a system to replace yourself. – Tim Ferriss, â€Å"The 4-Hour Work Week†The discipline of Business Process Modeling has long been seen as the preserve of enterprises, who invest tens of thousands of dollars and many man-months in building complex installed systems designed to manage thousands of employees. But the same techniques, made much more affordable and simple, are just as important for small and medium businesses, particularly as these companies rely more and more on home workers and get distributed across multiple countries and time-zones. Process modeling and automation can be affordable and simple, with Rain flow, a cloud based Software-as-a-Service (SaaS) process design and execution platform. Rain Flow allows you quickly build a set of processes that don’t stop at your company’s boundaries! Pretend that your business is going to serve as the model for 5,000 more just like it – Michael E. Gerber, â€Å"The E-myth Revisited†Process automation ensures that tasks don’t â€Å"fall through the cracks†: †¢ Import processes from our Pre-defined Process Library, covering a variety of common needs (invoicing, document approval, support etc. †¢ Import your contacts from G mail or Outlook and create your own Org-Chart †¢ Customize or create brand new processes using our online graphic Process Design Tool †¢ Automatically generate documentation for the processes, a great first step towards ISO 9001 compliance †¢ Low monthly fee – don’t get hammere d every time you add a collaborator Investors invest in good systems and people who can build good systems. Investors do not like to invest in businesses where the system, goes home at night. Robert Kiyosaki, â€Å"Rich Dad’s Guide to Investing††¢ Tasks are automatically assigned to employees, freelancers and even workers in other companies †¢ Customizable E-mail alerts and reminders †¢ Web-based UI for all participants show their current tasks and processes, wherever they access from †¢ Managers get an overview of what processes are in operation, where they â€Å"get stuck†and how they can be improved Franchising Conclusion The franchising can give you a good start into the entry of the business for some people, sometimes entirely new running any business of their own. All you need to do is to follow the already existing formula with the training, advice and marketing. But, you are still investing some of your life savings. So it is best to do research before you invest and take the advice of experienced professionals. For the franchisors, to be this experienced advice is as least beneficial, for without it, they may have an unsuccessful franchise but they will also put their whole business in a bad position and place their livelihoods, lifesavings and all of their franchisees in danger. Licensing: An arrangement where by one company allows another company to use its brand name, trade-mark, technology, patent, copyright or other assets in exchange for a royally based on sales. A company may prefer to arrange for a foreign company to manufacture or market its products under a licensing agreement. Factor that may lead to this decision include excessive transportation costs, government regulations and home production costs. ? Licensed a legal document giving official permission to do something. ? Having been issued with a license by the required authority. License is Aya Ueto’s fourth Japanese solo studio album. ? Freedom to deviate deliberately from normally applicable rules or practice. Securing a patent license or an invention license is hard, frustration and the consuming. The all ration of licensing trade mark for business intention. Appears to be at an all time high mostly in the fashion area, where by customers are buying more licensed products and brand names than e ver before. For example: Coca-cola is licensing company. Coca-cola company’s details: Coca-cola Hellenic was a pioneer foreign investor in Belarus first licensing a local manufacture in 1994 and than setting up its own production facilities in 1997. Its original us $42 million investment was the first green field development in Belarus by a foreign investor. Today, after almost us $ 120 million of investment, Coca-cola Hellanic has four production lines in Belarus producing Coca-cola, Fanta, Sprite, Schweppes, local brand Frunktime. In the summer and over Christmas the lines run 24 hours a day and it employs 550 people in its manufacturing head quarters and across its nation wide sales, warehouse and distribution network. Because of its early entry to the market, Coca-cola Helenic now has approximately 25% of rapidly growing soft drinks market in Belarus. Coca-cola Hellenic also plays an active role in helping the government improve the business climate in Belarus through its founding member ship of the foreign investment advisory council. Coca-cola’s task environment: Competitor Pepsi – cola Seven up 8 Inca Kola Strategic Partner Wash vile Coca-cola system evolution Supplier’s Human right alert Covalence SA Coca-cola trading company Customers Coca-cola Global History of Bottling Regulations Government Licensing is leasing a legally protected property like trade marked or copy righted name, logo, likeness, character, phrase or design to another party in combination with a product service or promotion. It is a process which lays stress on consumer management, development of brand equity in the with international imagery, providing right shopping ambience and perhaps is less about manufacturing. Advantages of Licensing: 1. An invention incentive:- We believe that having a stake in a products actual commercial success unleashes the ultimate incentive for the inventor and results in the best design solutions. A â€Å"licensing agreement†accomplishes this by rewarding an inventor with a reasonable royalty for his or her. 2. A product head start:- The times and money that a company normally spends on the R & D phase can instead be invested in a products a creative resource and a business ally,. 3. Fair & balanced :- The royally can very with each product in order to consider such factors as the license’s to be ling, manufacturing and promotional expense. Product Exclusivity: A license can grant to a manufacture exclusive right to make and sell products relating to the license and any associated patents. 4. Licensing is often the best bet for an inventory. 5. Licensing is less risky for inventory because the license assume all business task 6. Less expensive and inventory to spend more time inventing. 7. Less money and offers freedom to live and work any where. Disadvantages: 1. Very few inventors can retire and their inventory royalties. 2. If license invention only receive a small percentage of sales. 3. Potential pay of for licensing an invention is much smaller that introduction. License is a process which lays stress on consumer management, development of brand equity in the international imagery, providing right shopping ambience and perhaps is less about manufacturing. Licensing is away of growing with an already established brand. It provides the brand recall benefit, which are not achievable is case one comes out with a brand new image. There are many types of licensing business like art & design, corporate brands, events, fashion brand, food & drinks. Strategic Alliances Elmuti and Kathawala (2001) and Wild et al. (2008) explain that a strategic alliance consists of companies who do business together to reach each company’s strategic goals. Wild et al. (2008) state that strategic alliances are similar to joint ventures since they can take place for a short period of time up to several months, depending on the strategic goals. Example 1: Motorola initially found it very difficult to gain access to the Japanese cellular telephone market in the mid 1980s as the firm complained loudly about formal and informal Japanese trade barriers. The turning point for Motorola came in 1987 when it allied itself with Toshiba to build microprocessor. As part of this deal, Toshiba provided Motorola with marketing help, including some of its best managers. This helped Motorola in the political game of securing government approval to enter Japanese market and getting radio frequencies assigned for its mobile communications systems (Hill, 2006). Example 2: In 2003, Microsoft and Toshiba established an alliance aimed at developing embedded microprocessors that can perform a variety of entertainment functions in an automobile. The processors will run a version of Microsoft’s Windows CE operating system. Microsoft brings its software engineering skills to the alliance and Toshiba its skills in developing microprocessors (Hill, 2006). Example 3: In 1999, Palm Computer, the leading maker of personal digital assistance entered into an alliance with Sony under which Sony agreed to license and use Palm’s operating system in Sony PDAs. The motivation for the alliance was in part to help establish Palm’s operating system as the industry standard for PDAs, as opposed to a rival Windows based operating system from Microsoft (Hill, 2006). Elmuti and Kathawala (2001) and Wild et al. (2008) also explain that a strategic alliance can give a company several advantages. Advantages of Strategic Alliances †¢ Reduction of costs †¢ Decreased financial and economic risks †¢ Getting a glimpse of the other’s competitive advantages such as technology †¢ Getting access to the other’s market and distribution channel Disadvantages of Strategic Alliances The primary disadvantage of strategic alliances is that it can create disagreements between the companies which can create a future competitor (Wild et al. 008). Joint Venture A joint venture is when two or more firms establish a new firm that is jointly owned, but sometimes one company has a majority share. The main reason to use a joint venture as entry mode is that the companies share the risk and costs amongst them. But there is also the benefit of entering a market with a company from the host country as they have experience of doing business in that specific country. The local alliance partner has a firsthand knowledge of the political and cultural system in the host country. In some countries, this is the only entry mode possible for companies due to political and legal policies that prohibit foreign ownership (Hill, 2006). Example 1: The Adidas Group and Vulcabras SA have agreed to form a joint venture company with Reebok International Ltd to distribute Reebok footwear, apparel and accessories in Brazil and Paraguay. Financial details were not disclosed, but under the terms of the agreement Pedro Grendene Bartelle will be president and chairman of the new joint venture company, which will be governed by a board of directors to be comprised of Reebok and Vulcabras executives. The joint venture agreement expires at the end of 2015 (Globe Business Publishing Ltd, 2008). Example 2: Toshiba Storage Device Division has introduced its new DVD ROM, which is the first drive to ship from the new Toshiba Samsung Storage Technology (TSST) joint venture. Headquartered in Japan, the TSST joint venture involves product and business planning, product development, procurement and sales for optical disk-drives, including CD-ROM, CD Recordable, DVD Recordable and DVD-ROM drives. The organization is 51 percent owned by Toshiba and 49 ercent owned by Samsung and has combined annual sales exceeding $1. 8 billion (eMedia Asia Ltd, 2008). Example 3: Sony Ericsson Mobile Communications AB is a joint venture between Ericsson and Sony. It offers mobile communications products for people who appreciate the possibilities of powerful technology. Established in 2001 by Telefonaktiebolaget LM Ericsson and Sony Corporation, the joint venture continues to build on the success of its two innovative parent companies. Sony Ericsson creates value for its operator customers by bringing new ways of using multimedia communications while mobile. The company’s management is based in London, and has 4,000 employees across the globe working on research, development, design, sales, marketing, distribution and support Advantages of Joint Venture Wild et al. (2008) state that using a joint venture while entering a country decreases the risk since the exposure is reduced to the parts of the company they have contributed to the joint venture. Joint ventures can also provide an access to the other partner’s distribution channels. However, Wild et al. (2008) and Osland et al. 2001) further point out that joint ventures can create disagreements between the owners and a loss of control when one owner has knowledge or information that the other lacks. Disadvantages of Joint Venture There are several disadvantages with a joint venture. As in every partnership there is a possibility that friction will occur. It can easily be conflicts in a joint venture in questions of investments and corporate goals. There is also the possib ility of a power struggle in order to gain control. Joint venture also has some disadvantages similar to licensing as it can reduce the ability to achieve experience curve economies and location advantages. The risk of losing control of the company’s specific assets such as technological know-how may also occur (Hill, 2006). Foreign Direct Investment: Foreign direct investment occurs when a firm headquartered in one country builds or purchases operating facilities or subsidiaries in a foreign country. The foreign operations then become wholly owned subsidiaries of the firm. For example, Ford’s acquisition of Jaguar, Volvo and Kia. Dell Computer’s new factory in china is a direct investment. A major reason many firms make foreign direct investments is to capitalize on lower labor costs. In other words, the goal is often to transfer production to locations where labor is cheap. Japanese businesses have moved much of their production to Thailand because labor costs are much lower there than in Japan. There are two strategies used in foreign direct investment. 1. Brownfield 2. Greenfield Brownfield Investment: When a company or government entity purchases or leases existing production facilities to launch a new production activity. For example, BANGLALINK Banglalink: Banglalink is the second largest cellular service provider in Bangladesh after Grameenphone. In September 2004, Orascom Telecom holding purchase 100% of the share of Sheba Telecom (Pvt. ) Ltd. Sheba had a base of 59000 users, of whom 49000 were regular when it was sold. Afterward it was re-branded and launched its service under the Banglalink brand on February 10, 2005. The task environments of Banglalink are: Competitors:  · Grameen  · Aktel  · Warid  · Citycell  · Teletalk Customers:  · Individual consumers  · Institutional customers Suppliers:  · Siemens  · Wholesale parts processors  · Packaging manufacturers Strategic partners:  · BTRC  · Nokia-Siemens  · Network Regulators:  · BRTC  · Securities and Exchange commission  · Police department Greenfield Investment: A Greenfield investment is the investment in a manufacturing, office, or other physical company related structure or group of structures in an area where no previous facilities exist. Greenfield investing is usually offered as an alternative to another form of investment such as merger and acquisition, joint venture or licensing agreement. Greenfield investing is often mentioned in the context of Foreign Direct Investment. For example: Warid Telecom Warid Telecom: Warid Telecom International Ltd. is a GSM based cellular operator in Bangladesh. Warid was the sixth mobile phone carrier to enter the Bangladesh market and launched commercial operation on May 10, 2007. Warid telecom international LLC an Abu Dhabi based consortium, sold a majority 70% stake in the company to Indian’s Bharti Airtel Ltd. for US $300 million. The task environments of Warid are: Competitors:  · Grameen Aktel  · Citycell  · Teletalk  · Banglalink Customers:  · Individual consumers  · Institutional customers Suppliers:  · Samsung  · Wholesale parts processors  · Packaging manufacturers Strategic partners:  · BTRC  · Samsung  · Network Regulators:  · BRTC  · Securities and Exchange commission  · Police department Like the other approaches for increasing a firm’s level of internationalization, direct inves tment carries with it a number of advantages and disadvantages. They are discussed below: Advantages of foreign direct investment: Enhanced control: In foreign direct investment managerial control is more complete and profits do not have to be shared as they do in joint ventures. Existing infrastructure: Existing infrastructure is another advantages of foreign direct investment. Purchasing an existing organization provides additional benefits is that the human resources and organizational infrastructure are already in place. Consume the cost of introducing a new brand: Acquisition is also a way to purchase the brand name identification of a product. This could be particularly important if the cost of introducing a new brand is high. Disadvantages of foreign direct investment: Complexity: Complexity is one of the disadvantages of foreign direct investment. In decision making it creates great complexity. Greater economic and political risk: In this approach a firm starts business in foreign country in greater economic and political risk. Greater uncertainty: Foreign direct investments have some advantage but the firm work in greater uncertainty. Management Contract Wild et al. (2008) explain that a management indenture is when one business gives another managerial expertise. The authors further point out that management contracts are often used by the public sector moreover. This entry mode is not used on a one time basis but rather during an extended time period. There are several advantages to gain by using management contracts as an entry mode, for example international business opportunities can arise and there may be an increase of expertise of local workers. This entry mode reduces the exposure and risk of losing physical assets, however the employees may still be exposed to risks and management contracts can create a future competitor in the local market. Conclusion From the above discussion following conclusion can be drawn: †¢ In accordance with the view of (Hill, 2006) managers of international businesses need to remember that foreign assembly can improve their capabilities over time, and this can be of immense strategic benefit to the firm. Rather than viewing foreign assembly process as sweatshops where unskilled labor churns out low cost goods, manager need to view them as otential centers of excellence and to encourage and foster attempts by local managers to upgrade the capabilities of their factories and thereby, foreign assembly can serve as a source of competitive advantage. And the various case studies discussed in the easy supports this statement. †¢ In accordance with the view of (Lankford & Parsa, 1999), contrac t manufacturing can enable an organization to gain competitive advantage when products or services are produced more effectively and efficiently by outside suppliers. The advantages in contract manufacturing can be operational, strategic, or both. Operational advantages usually provide for short-term trouble avoidance, while strategic advantages offer long-term contributions in maximizing opportunities. However, suggestions of (Harland et al. 2005) cannot be under estimated who suggested that the failure to manage outsourcing relationships properly, perhaps through service level agreements, may reduce customer service, levels of control and contact with the international customers and suppliers. Finally it may be mentioned that it is appropriate to use contract manufacturing or foreign assembly within an international marketing strategy when risk factors are identified and dealt with precision and careful strategic analysis. Appropriateness of embedding contract manufacturing and foreign assembly within an international marketing strategy depends of how precisely an organization can manage multiple relationships in different environmental context and gain competitive advantage. The main goal of foreign manufacturing and foreign assembly process is to increase and sustain the organizational competency. As stated in the discussion that the rationale behind establishing a foreign manufacturing facility, the strategic role of foreign factories can evolve over time and success of such strategy depends on the organization’s ability to respond in the ever changing global environment.
Tuesday, October 22, 2019
Free Essays on Drunk Driving
Alcohol and Driving Imagine being in a bar with a few of your good friends. Everyone is drinking and having a good time. Your are going to leave and go home, but you friends won't let you because they know the dangers of driving after having a few drinks. Instead they ca ll a cab to give you a ride home. You would be extremely lucky to have such smart friends. Drunk driving is a very serious problem in our society today, but it is becomming socially unacceptable causing the numbers of alcohol related traffic fatalites t o decline considerably. Drunk driving can be very deadly. Yet many people drive while under the influence everyday. Drivers who are drunk are blamed for the loss of as many as twentyfive thousand lives in highway crashes each year and hundreds of thousands of severe injurys. It is thought that drunk drivers have a long history of doing this and many prior arrests. In addition, most of those killed are just innocent victims whose behavior did not contibute to their deaths. These last two statements are both false. On aver age a drunk driver that kills has never been involved in a alcohol related accident before and have no proir convictions for drunk driving. The part about the people killed are just innocent bistanders is overaggerated also. Most of the drunk drivers v ictims are the drivers themselves, their often passengers, and the drunken pedestrains and cyclists. Despite this drunk driving is still very dangerous. It is the leading cause of unintentional injury deaths in America today. In fact it is said that ab out 40 % of the population will be involved in a alcohol related crash during their life. Drunk driving is especially dangerous to young people, who seem to be more involved than others. Drunk driving is the number one cause of death among y oung people, accounting for 20% of all deaths from ages 15 to 20. Drunk driving is such a hard thing to overcome though. In our society alcolol is overwhel... Free Essays on Drunk Driving Free Essays on Drunk Driving Alcohol and Driving Imagine being in a bar with a few of your good friends. Everyone is drinking and having a good time. Your are going to leave and go home, but you friends won't let you because they know the dangers of driving after having a few drinks. Instead they ca ll a cab to give you a ride home. You would be extremely lucky to have such smart friends. Drunk driving is a very serious problem in our society today, but it is becomming socially unacceptable causing the numbers of alcohol related traffic fatalites t o decline considerably. Drunk driving can be very deadly. Yet many people drive while under the influence everyday. Drivers who are drunk are blamed for the loss of as many as twentyfive thousand lives in highway crashes each year and hundreds of thousands of severe injurys. It is thought that drunk drivers have a long history of doing this and many prior arrests. In addition, most of those killed are just innocent victims whose behavior did not contibute to their deaths. These last two statements are both false. On aver age a drunk driver that kills has never been involved in a alcohol related accident before and have no proir convictions for drunk driving. The part about the people killed are just innocent bistanders is overaggerated also. Most of the drunk drivers v ictims are the drivers themselves, their often passengers, and the drunken pedestrains and cyclists. Despite this drunk driving is still very dangerous. It is the leading cause of unintentional injury deaths in America today. In fact it is said that ab out 40 % of the population will be involved in a alcohol related crash during their life. Drunk driving is especially dangerous to young people, who seem to be more involved than others. Drunk driving is the number one cause of death among y oung people, accounting for 20% of all deaths from ages 15 to 20. Drunk driving is such a hard thing to overcome though. In our society alcolol is overwhel... Free Essays on Drunk Driving 1) There were three national strategies to combat impaired driving that was presented by Chuck Hayes. The three national strategies are: â€Å"High Visibility Enforcement, â€Å"Training more Prosecutors on Alcohol and Screening and Brief Intervention.†(Hayes). The first strategy, high visibility enforcement is sending a message to drivers. This message is to fear arrest, show strict sanctions if caught and jail time/ license suspension, and car impoundment. Strategy two would train prosecutors on alcohol and drugs. This would train them how they can improve the system. For example, sobriety checkpoints, saturation patrols, drug evaluation and classification program, roadside breathe testing, and Per Se Laws such as .08 and above is Oregon’s legally impaired limit to drive. Strategy three is screening and brief intervention which would question if a person is at risk 2) The legal definition of impaired driving is if you can be found guilty of drunk driving, also called driving while intoxicated (DWI) or driving under the influence (DUI), if the state can prove either that you are legally intoxicated while driving, meaning that your body shows alcohol levels above a state-mandated limit. The most common level is .10 percent, as determined by a blood test or breath test, though in some states the level is lower. (In Colorado, for instance you are legally impaired if your alcohol level is .05 percent.) For drivers of commercial vehicles, the level may is usually .05 and lower. Some drugs that also affect impairment are, â€Å"hallucinogens which are drugs that cause hallucinations, Phencycidine(PCP) which slows down the thought process among many other things, narcotic analgesics which are pain relievers that are very closely related to heroin, Inhalants which are fumes that can be inhaled from gasoline, whip cream bottles, and the last drug Cannab is which is Hash oil or Marijuana.†(Rutledge) 3) Five main points from Nigel Wrangham’s p... Free Essays on Drunk Driving Fatal Alcohol Accidents Your three children are asleep in the room next to you and you’re still up waiting for your husband to come home from his second shift job. Then the phone rings and an unfamiliar voice says, â€Å"Mrs. Smith? Is your husband Jerry Michael Smith†¦ Ma’am, I’m sorry to be the one to tell you this but your husband was killed in a motor vehicle accident. We would like for you to come down to the station.†Every year thousands of homes receive the same phone call, approximately three out of every ten (FARS 2000). According to the National Highway Traffic Safety Administration, the number of fatal alcohol related accidents have gone down since 1980, yet, there are still too many lives being taken away. In order to prevent these accidents, laws must become more strict. In other words, setting up random sobriety check points, longer suspension of the offenders license, or even going as far as impounding the vehicles of repeat offenders. In many cities people are accustomed to being subject to random sobriety checkpoints, although maybe not enough. Some people only see these checkpoints during holidays such as, New Years Eve or the Fourth of July, yet, what about the other times that most alcohol related accidents occur. According to FARS, during the time between midnight and 2:40am, cities render 87% of the total alcohol related accidents(2000). Setting up checkpoints at frequently used intersections and in areas around bars could reduce the number of intoxicated drivers and cause more of a need for designated drivers. Although some people would resent the increase in taxes due to the increase in men the police stations would have to provide to run the checkpoints. By setting up these random checks more often it would also reduce the number of police officers out on patrol, which inevitably could cause more violence in other places. After most DUI or DWI convictions the offender usually has to f...
Monday, October 21, 2019
Elvis essays
Elvis essays Elvis Presley ha recorded 131 gold, platinum, or multi-platinum records. At least 149 of his songs Have appeared on Americas Billboard charts in the top 100. He has been nominated for 14 Grammys and has won 3 of them. Elvis has also made 33 films. Elvis, shooting like a rocket when he introduced Rock N Roll to America with his share of bad times and good made a huge impression on America. (Overview of Achievements) Elvis was born a twin with his stillborn brother Jesse Garon Presley who was born thirty-five minutes before Elvis on January 8, 1935. Elvis Aron Presley was born to Gladys and Vernon Presley. (Matthews, Rupert) Elvis was born in the small town of Tupelo Mississippi. After he was born him and his parents then moved to Memphis, Tennessee in search of better jobs. This is where Elvis first became influenced by music. He was exposed to all types of music such as gospel at church, Rthe legendary Sun Records label in Memphis. The contract was later sold to RCA Victor in late 1955. By 1956, he was an international sensation. Elvis unique, diverse style of music challenged all aspects of that time. (Biography: Elvisology) Elvis came out happy and motivated despite all of his personal problems. Elvis grew up in am extremely poor home. Elvis father, Vernon Presley was a laborer with no education. He had no ambition to be anything in life because he had always been poor. Vernon would occasionally get a job driving a truck, but any money earned, he spent on drinking and gambling. Elvis mom, Gladys Smith Presley wanted to do something with her life but could not because Vernon would not help her get started. She eventually turned to alcohol for the answer. Elvis d...
Sunday, October 20, 2019
The Role of DNA in Evolution
The Role of DNA in Evolution Deoxyribonucleic acid (DNA) is the blueprint for all inherited characteristics in living things. It is a very long sequence, written in code, that needs to be transcribed and translated before a cell can make the proteins that are essential for life. Any sort of changes in the DNA sequence can lead to changes in those proteins, and, in turn, they can translate into changes in the traits those proteins control. Changes at a molecular level lead to microevolution of species. The Universal Genetic Code The DNA in living things is highly conserved. DNA has only four nitrogenous bases that code for all differences in living things on Earth. Adenine, cytosine, guanine, and thymine line up in a specific order and a group of three, or a codon, code for one of 20Â amino acids found on Earth. The order of those amino acids determines what protein is made. Remarkably enough, only four nitrogenous bases that make only 20 amino acids account for all diversity of life on Earth. There has not been any other code or system found in any living (or once living) organism on Earth. Organisms from bacteria to humans to dinosaurs all have the same DNA system as a genetic code. This may point to evidence that all life evolved from a single common ancestor. Changes in DNA All cells are pretty well-equipped with a way to check a DNA sequence for mistakes before and after cell division, or mitosis. Most mutations, or changes in DNA, are caught before copies are made and those cells are destroyed. However, there are times when small changes do not make that much of a difference and will pass through the checkpoints. These mutations may add up over time and change some of the functions of that organism. If these mutations happen in somatic cells, in other words, normal adult body cells, then these changes do not affect future offspring. If the mutations happen in gametes, or sex cells, those mutations do get passed down to the next generation and may affect the function of the offspring. These gamete mutations lead to microevolution. Evidence for Evolution DNA has only come to be understood over the last century. The technology has been improving and has allowed scientists to not only map out entire genomes of many species, but they also use computers to compare those maps. By entering genetic information of different species, it is easy to see where they overlap and where there are differences. The more closely species are related on the phylogenetic tree of life, the more closely their DNA sequences will overlap. Even very distantly related species will have some degree of DNA sequence overlap. Certain proteins are needed for even the most basic processes of life, so those selected parts of the sequence that codes for those proteins will be conserved in all species on Earth. DNA Sequencing and Divergence Now that DNA fingerprinting has become easier, cost-effective, and efficient, the DNA sequences of a wide variety of species can be compared. In fact, it is possible to estimate when the two species diverged or branched off through speciation. The larger the percentage of differences in the DNA between two species, the greater the amount of time the two species have been separate. These molecular clocks can be used to help fill in the gaps of the fossil record. Even if there are missing links within the timeline of history on Earth, the DNA evidence can give clues as to what happened during those time periods. While random mutation events may throw off the molecular clock data at some points, it is still a pretty accurate measure of when species diverged and became new species.
Saturday, October 19, 2019
To what extent can improvements in productive flow and product quality Essay - 9
To what extent can improvements in productive flow and product quality lead to an increase in sales and profit - Essay Example Implementation of the new EHR systems requires the incorporation of older records into the patient’s electronic health record. One of the strategies involved in the incorporation of old records is scanning of older documents and including them in the system in the image format. However, studies by Ventres et al., (124–31) affirm that most physicians do not prefer inclusion of scanned images in the electronic systems. They prefer full electronic data-based systems because most scanned images are normally unclear; therefore difficult to read. The problem can be resolved through the development of EHR systems with image archival characteristics for converting the scanned documents into full electronic health records. The written records can also be converted into electronic formats through scanning the documents and then performing the Optical Data Recognition (OPR). Accurate recognition may not achieve the required clarity levels while illegible handwriting is poorly reco gnized by the optical character readers. This leads to the formation of the records that are difficult to read. The most successful strategy is making of the state’s database records available for transfer through downloading into individual health records. Privacy. Currently, health records are vulnerable for transmission and exchange over the internet. Rule for access, storage, auditing, authentications and transmission of medical records are contained in the Health Insurance Portability and Accountability Act (HIPAA) (Zaroukian 53-55). Although the restrictions are geared towards promoting the privacy of these records, concerns over the adequacy of the implementation of these standards exist. According to Zaroukian (56), implementation of the privacy regulations can only be achieved through enhancing cooperation between the public, health providers and service providers. The privacy concerns are the prominent challenge stalling the
Friday, October 18, 2019
Instruments and Markets Essay Example | Topics and Well Written Essays - 500 words
Instruments and Markets - Essay Example A company needs to be able to meet its current liabilities using its current asset for it to be operational. Companies have short term liabilities that need to be paid and also long term liabilities due (Vandyck, 2006).Therefore the BHP Company has a current ratio of 0.97 which implies that the current asset and the current liabilities almost cancel out. This is a safe cash flow position that shows the firm can adequately service its obligation The company’s level of efficiency in terms of return on assets stood at 9.44% while the Return on equity was 15.92%. These ratios give the efficiency at which the company’s resources were used to achieve the various results and how effective they were. The debt to equity ratio gives the distribution of the capital structure in terms of how much is contributed by stock and how much by debt. A high debt to equity ratio would mean a company is heavily dependent on debt and hence plenty of its future profits would be tied down and there would be less flexibility. A debt to equity ratio of almost 50% shows the two sources of capital are evenly
Strategic and Financial Decision-making Assignment 2 - 2010 Coursework
Strategic and Financial Decision-making Assignment 2 - 2010 - Coursework Example The ‘beta’ is the most important statistics tool to measure the volatility and the Capital Asset Pricing Model (CAPM) is a popular model to calculate the return on stock. In this report the beta values of two companies will be calculated using the share prices of the last 24 months. These two companies are British American Tobacco (BATS) and the Petrofac (PFC.L) and both of them are listed in the London Stock Exchange (LSE). British American Tobacco is one of the leading tobacco companies in UK. British American Tobacco produces cigarettes under different brands and has different price range. â€Å"Petrofac is an international provider of facilities solutions to the oil & gas production and processing industries†(Petrofac, 2010). The beta values of both the companies will be calculated using different methodologies that include covariance of the stock return with market returns and the variance of the market returns and the linear regression analysis. For calculating the betas, the monthly stock prices of both the companies were obtained and for market return the index FTSE 100 has been used. All these are the secondary source of data obtained through online sources. The historical stock prices of the both the companies are obtained through ‘Yahoo Finance’ and the historical data of FTSE 100 is also taken from the same online source (Yahoo Finance. 2010). The calculated beta values have been compared with the beta values from the published source. The published source for betas has been taken from the online source, MSN-Money (MSN-Money, U.K. 2010.). The published betas of British American Tobacco and Petrofac are 0.47 and 1.06 respectively. The two methodologies for beta calculation have been used. The first methodology will use the covariance of stock return with market return and the variance of the market return. The following model explains the beta (ÃŽ ²) under the same method. The calculation has
Thursday, October 17, 2019
Ernest Hemingway's Use of the Code Hero concept in The Sun Also Rises Essay
Ernest Hemingway's Use of the Code Hero concept in The Sun Also Rises - Essay Example Obviously, the message that the author wishes to impart is that the values of such ideals are not in their definition but in the manner that one would live and die while trying to uphold and apply them. As Philip Young would describe, â€Å"the code hero, then, offers up and exemplifies certain principles of honor, courage, and endurance which in a life of tension and pain make a man a man, as we say, and enable him to conduct himself well in the losing battle that is life.†(11) At the end of The Sun Also Rises, Barnes clearly fails to get what he wants, which means that cannot claim victory in the struggle to promote his own principles. Barnes, however, is not the stereotypical hero, one with only strengths being highlighted by the author. This is because Hemingway’s code hero has his own frailties, an important element so that the reader can relate himself or herself to the character. In fact, in Barnes is obviously still on the process of strengthening his principle s as he observes the weaknesses and strengths of the other people that surround him. This means that he too is in the process of determining which ideals he must uphold and which human tendencies that he must avoid. At the beginning of the story, Barnes does not show anything that proves his tight grasp on his ideals.
Paradoxical Nature Of Organizational Culture, As Incorporating Essay
Paradoxical Nature Of Organizational Culture, As Incorporating Elements Of Both Stability And Change - Essay Example These paradoxes, according to popular opinion are a consequence of socially constructed management discourses, whereby concepts such as change and flexibility, centralization and decentralization, flexibility and control etc., tend to co-exist, and at times, encouraged and perceived as inevitable elements for organizational success. For the purpose of this study, the predominant and widely recognized organizational paradox of change and stability, will be discussed at length. Change and flexibility, with regard to organizational environment, are perceived as two of the most inherent and crucial tools of achieving organizational growth and success. Companies, all over the world, constantly use these elements to drive their organizations towards growth and ensure long-term sustainability in the marketplace, particularly in situations whereby the external environment is characterized by strong competition or when the companies are caught in the midst of a crisis. This paper aims to disc uss the paradoxical nature of organizational culture, with regard to incorporating the widely popular albeit highly contradictory elements of change and stability. ... , managers today, encourage continuous innovation, improvement and change within organizations in order to address the challenges posed by the economic environment. The management is faced with the persistent challenge of adapting to the continuous innovations taking place in the external environment and devise and implement appropriate change management policies within their organizations, accordingly. It is on account of this very reason that various authors and researchers have concluded that change takes precedence over stability in contemporary corporate environment (Daft, 2010). It is a widely established fact that in order to survive in this highly dynamic corporate environment, the firms are required to include elements of innovation, flexibility as well as change from time to time. However, at the same time, they are also required to ensure stability and reliability (Farjoun 2010). The existence of this duality of change and stability, is one of the most widely popular and e ssential paradoxes in the field of organizational management (March & Simon, 1958; Thompson, 1967; Weick, 1979) which has received widespread attention and recognition in the field of management research, over the years (Farjoun, 2010; Gupta, Smith & Shalley, 2006; Leana & Barry, 2000; Lok, 2006; Nelson & Winter: 1982; Schultze & Stabell, 2004; Smith & Lewis, 2011). Literature review There is a high level of awareness within the field of management, regarding the existence of paradoxes ultimately leading to a rise in complexity and ambiguity (Farson, 1996; Handy, 1994; O’Connor, 1995). Most of these terms are widely popular and predominant in changing organizations wherein change is given crucial significance (Lewis, 2000). Van de Ven and Poole (1988), hence, making the concept of
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