Apple Inc Business Organization Assignment Example | Topics and Well Written Essays - 1500 words

Apple Inc Business Organization - Assignment Example Apple Inc. has international operations which are operated from its California based headquarters. The company is headed by a team of top executives who are responsible for making strategic decisions which affect the company’s future operations. The management of the company and its activities are directed by a group of board of directors. The company’s business operations are divided into various functionalities which include consumer electronics arm, personal computers and software and mobile phones. The business activities are effectively designed into design, manufacturing or development, sales and marketing, development and research. Since the company operates in several markets across the world, it has varying levels of management and organizational or business activities.The strategic environment within Apple’s business environment can be analyzed through the application of Porter’s five forces for competitive advantage of a company. According to Po rter (1985, p. 54), the threat of new entrants into the market poses a significant challenge to the competitive of a company. Since Apple operates in many markets across the world, it is evident that the company is challenged by the new companies which arise in these markets and provide products and services similar to those of Apple. Examples of new entrants into the Apple’s business environment include new mobile phone companies, telecommunication service providers and manufactures of computer systems and mobile phones. which comprise of the services and products that the company provides. The threat of new entrants is more significant when these new operators provide services at a cheaper price than a specific company (Porter, 1985, p. 65). The power of buyers who represent the consumers of Apple’s products is a significant force that determines the company’s strategies for competitive advantage. The information and communication industry as well as the mobile phone and telecommunication sector across the world is very dynamic. This means that the needs of consumers change frequently in relation to their tastes and preferences (Porter, 1985, p. 72). It is in this sense that Apple Inc employs a strategic plan that focuses on fulfilling or meeting the needs of consumers. This is because consumers comprise of the most important stakeholder for any business. Hannagan (2009, p. 43) points out that the power of suppliers play a significant role in defining the business strategies that are employed by a company for strategic advantage within the market. The suppliers of Apple’s raw materials determine its success in production and assurance of quality for its electronic, computing and mobile phone products. It is in this sense that the company is mandated to ensure that in all of its markets especially where its production processes are situated has access to suppliers. More importantly the company ensures that it maintains a positive relationship with its suppliers so that it would maintain their loyalty. In this light, the company is able to become strategically competitive within its business environment by producing the best quality of products and services. Hannagan (2009, p. 29) says that the threat of substitute products within a company’

Financial Crisis Recovery Essay Example for Free

Financial Crisis Recovery Essay 1997-1998 Financial Crisis The weaknesses in Asian financial systems were at the root of the crisis that caused largely by the lack of incentives for effective risk management created by implicit or explicit government guarantees against failure. The weaknesses of the financial sector also were masked by rapid growth and accentuated by large capital inflows, which were partly encouraged by pegged exchange rates. In the mid-1990s, a series of external shocks began to change the economic environment the devaluation of the Chinese Renminbi and the Japanese Yen, rising of U. S. interest rates which led to a strong U.S. dollar, the sharp decline in semiconductor prices; adversely affected their growth. The crisis began in Thailand when the Thai baht collapse of in July 1997 with a series of speculative attacks on the baht extended after quite a few decades of outstanding economic performance in Asia. As the U.S. economy recovered from a recession in the early 1990s, the U.S. Federal Reserve Bank under Alan Greenspan began to raise U.S. interest rates to head off inflation. This made the U.S. a more attractive investment destination relative to Southeast Asia, which had been attracting hot money flows through high short-term interest rates, and raised the value of the U.S. dollar. For the Southeast Asian nations which had currencies pegged to the U.S. dollar, the higher U.S. dollar caused their own exports to become more expensive and less competitive in the global markets. At the same time, Southeast Asias export growth slowed dramatically in the spring of 1996, deteriorating their current account position. Many economists believe that the Asian crisis was created not by market psychology or technology, but by policies that distorted incentives within the lender–borrower relationship. Impacts of the crisis to the South East Asia Most of Southeast Asia and Japan having currency depreciation, devalued stock markets and other asset prices, and a precipitous rise in private debt. It were resulting large quantities of credit became available generated a highly leveraged economic climate, and pushed up asset prices to an unsustainable level. These asset prices eventually began to collapse, causing individuals, financial institutions and corporations in the affected countries were bankrupt. A change in market sentiment could and did lead into a violent of currency depreciation, insolvency, and capital outflows, which was difficult to stop. In the year after collapse of the baht peg, the value of the most affected East Asian currencies fell 35-83% against the U.S. dollar (measured in dollars per unit of the Asian currency), and the most serious stock declines were as great as 40-60%. Lenders led to a large withdrawal of credit from the crisis countries, causing a credit crunch and further bankruptcies. Foreign investors attempted to withdraw their money; the exchange market was flooded with the currencies of the crisis countries, putting depreciative pressure on their exchange rates. As a result, short-term economic activity has slowed or contracted severely in the most affected economies like inflation and rising in unemployment. It impossible that the government doing nothing when the crisis happened to their country. To prevent currency values collapsing, countries governments raised fiscal spending in domestic interest rates to exceedingly high levels (to help diminish flight of capital by making lending more attractive to investors) and to intervene in the exchange market, buying up any excess domestic currency at the fixed exchange rate with foreign reserves. But when interest rates were very high, it can be extremely damaging to an economy that is healthy, wreaked further havoc on economies in an already fragile state, while the central banks were hemorrhaging foreign reserves, of which they had finite amounts. As a strategy to maintain competitiveness, policies to strengthen the country’s balance-of-payments account were pursued. For example, exports were encouraged and imports were discouraged, the latter through an increase in import taxes on certain goods and services. Measures to increase exports for providing handouts directly to people affected included reducing the cost of doing business through such means as tax incentives to boost the manufacturing, agriculture, and services sectors. In the case Malaysia for example, there are policies regarding 1997 crisis: Denial and hesitation, the Malaysian government denied that there was a crisis in the first place; Tight fiscal and monetary policies, and restructuring the banking system; Government proposed to use regional currencies instead of the US dollars in inter-ASEAN bilateral trade; and Financing the recovery programs with the total cost of all measures was RM62 billion. While in the case of Indonesia, the government providing assistance to the poor like efforts to shield poor and vulnerable sections of society from the worst of the crisis, by deepening and widening social safety nets and devoting substantial budgetary resources to increasing subsidies on basic commodities such as rice; measures to increase transparency in the financial, corporate, and government sectors; and steps to improve the efficiency of markets and increase competition. Another example of helping the poor and needy, government must be fair and redistribute the wealth equally to them according their basic necessities of life. In Malaysia, the practicing of zakat system and waqaf contribution to help the poor and needy indirectly will benefit the society. Moreover, Bank Rakyat and ar-rahnu market on Islamic pawn-broking will help the small and medium enterprise to expend their business. Government also must allocate the budget expenditure for subsidizing mainly on education, healthcare and housing for the people. The International Monetary Fund (IMF) is an international organization that provides financial assistance and advice to member countries. It was created out of a need to prevent economic crises like the Great Depression. With its sister organization, the World Bank, the IMF is the largest public lender of funds in the world. It is a specialized agency of the United Nations and is run by its 186 member countries. Membership is open to any country that conducts foreign policy and accepts the organizations statutes. The IMF is responsible for the creation and maintenance of the international monetary system, the system by which international payments among countries take place. A core responsibility of the IMF is to provide loans to member countries experiencing actual or potential balance of payments problems. This financial assistance enables countries to rebuild their international reserves, stabilize their currencies, continue paying for imports, and restore conditions for strong economic growth, while undertaking policies to correct underlying problems. Unlike development banks, the IMF does not lend for specific projects. It thus strives to provide a systematic mechanism for foreign exchange transactions in order to foster investment and promote balanced global economic trade. To achieve these goals, the IMF focuses and advises on the macroeconomic policies of a country, which affect its exchange rate and its governments budget, money and credit management. The IMF will also appraise a countrys financial sector and its regulatory policies, as well as structural policies within the macroeconomic that relate to the labor market and employment. In addition, as a fund, it may offer financial assistance to nations in need of correcting balance of payments discrepancies. The IMF is thus entrusted with nurturing economic growth and maintaining high levels of employment within countries. The large financial packages which the IMF has arranged for countries affected by the Asian crisis and its result have stimulated a debate both among policy-makers and academics as to their costs and benefits. The IMF’s role in providing financial assistance to its members in overcoming short-term balance-of-payment difficulties generally has been evident. Advantages and disadvantages of IMF The IMF offers its assistance which it conducts on a yearly basis for individual countries, regions and the global economy as a whole. However, a country may ask for financial assistance if it finds itself in an economic crisis, whether caused by a sudden shock to its economy or poor macroeconomic planning. A financial crisis will result in severe devaluation of the countrys currency or a major depletion of the nations foreign reserves. In return for the IMFs help, a country is usually required to embark on an IMF-monitored economic reform program, otherwise known as Structural Adjustment Policies (SAPs). An IMF loan provides a cushion that eases the adjustment policies and reforms that a country must make to correct its balance of payments problem and restore conditions for strong economic growth. Supporters argue that the IMF can also impose necessary reforms on an economy. Reforms such as privatization, fiscal responsibility, control of Money supply, and attacking corruption. These policies may cause short term pain, but, are essential for preventing future crisis and long term development. Substantial financial advantages are attached to IMF credits because debtor countries benefit from lower debt service costs. Moreover, commercial banks often demand agreement with the IMF before lending is resumed and generally will charge lower interest rates to countries with an IMF program. The benefits attached to the IMF loan can be regarded as a compensation for the policy adjustments which the debtor countries carry through. At the same time, thanks to the unique role the IMF can play, the costs involved for the creditor countries seem to be rather limited, as the opportunity costs of forgoing the proceeds of alternative investments are relatively small. By temporarily providing finance and at the same time fostering adjustment, member countries could overcome external problems without overly detrimental measures either for their own population or for other countries. The interest rates charged by the IMF in normal circumstances can be relatively low, because the special role of the IMF in the international financial system reduces the risks for the IMF itself as well as for the creditor countries which have provided the resources. Because of its special position the IMF can mitigate the risks attached to its loans. Helped by its low funding costs, the IMF can charge debtor countries lower interest rates than private sector participants which have to charge high spreads because of the sovereign risks involved. Over time, the IMF has been subject to a range of criticisms, generally focused on the conditions of its loans. The IMF has also been criticized for its lack of accountability and willingness to lend to countries with bad human rights record. On giving loans to countries, the IMF makes the loan conditional on the implementation of certain economic policies. These policies tend to involve: * Reducing government borrowing Higher taxes and lower spending * Higher interest rates to stabilize the currency. * Allow failing firms to go bankrupt. * Structural adjustment. Privatizations deregulation, reducing corruption and bureaucracy. The problem is that these policies of structural adjustment and macroeconomic intervention make the situation worse. For example, in the Asian crisis of 1997, many countries such as Indonesia, Korea and Thailand were required by IMF to pursue tight monetary policy (higher interest rates) and tight fiscal policy to reduce the budget deficit and strengthen exchange rates. However, these policies caused a minor slowdown to turn into a serious recession with mass unemployment. The IMF have been criticized for imposing policy with little or no consultation with affected countries. Jeffrey Sachs, the head of the Harvard Institute for International Development said: In Korea the IMF insisted that all presidential candidates immediately endorse an agreement which they had no part in drafting or negotiating, and no time to understand. The situation is out of hand. It defies logic to believe the small group of 1,000 economists on 19th Street in Washington should dictate the economic conditions of life to 75 developing countries with around 1.4 billion people. Because the IMF lends its money with strings attached in the form of its SAPs, many people and organizations are vehemently opposed to its activities. Opposition groups claim that structural adjustment is an undemocratic and inhumane means of loaning funds to countries facing economic failure. Debtor countries to the IMF are often faced with having to put financial concerns ahead of social ones. Thus, by being required to open up their economies to foreign investment, to privatize public enterprises, and to cut government spending, these countries suffer an inability to properly fund their education and health programs. Moreover, foreign corporations often exploit the situation by taking advantage of local cheap labor while showing no regard for the environment. The oppositional groups say that locally cultivated programs, with a more grassroots approach towards development, would provide greater relief to these economies. Critics of the IMF say that, as it stands now, the IMF is only deepening the rift between the wealthy and the poor nations of the world. Indeed, it seems that many countries cannot end the spiral of debt and devaluation. The relatively low interest rates charged by the IMF can lead to moral hazard behavior on the part of the debtor countries. This is largely reduced through the tough policy measures which the IMF imposes as a condition for its programmers. In practice, most countries do not turn to the IMF if not forced by adverse circumstances. Decisions about which countries may borrow money are made by rich countries. Poor countries have little say about loans and the conditions attached to them. The IMF will only lend money to countries if they agree to certain conditions. These conditions increase poverty. The livelihoods of people in poorer countries are destroyed by unfair competition from foreign goods and services. The IMF does not give good financial advice. Countries have suffered by following it. IMF East Asia Case The IMF was involved in one of the worst East-Asian economic crises thus far. Everything started when Thailand was experiencing difficulties in meeting foreign liability obligations so the IMF intervened by suggested to devalue the Baht. The same suggestion was made to Indonesia, Korea and the Philippine. Soon, South Korea and Taiwan jumped in the trend and Hong Kong and Singapore dollars faced speculative attack. The crisis spread all the way to South America where Brazil and Argentina currency came under attack, but they both stood their grounds and refused to devalue which might have prevented a global financial crisis. Other aspects of the handling of the case that were looked down upon were the issue of the bail-out and the political situation of the borrowing country had once again been ignored. Thailand had already borrowed from the IMF and they were bailed-out very publicly which gave an incentive for surrounding countries to follow very risky projects or decisions, believing that the IMF would be a safety net as opposed to a lender of last resort. This is what happened in South Korea when large, unprofitable investment projects were undertaken, largely due in part to the conglomerates of businesses that are close to the bureaucracy but more importantly, sponsored by the IMF. Likewise, Fund officials protested that many East-Asian countries needed a reform in the banking system and governance, where bad banking, nepotism and corruption do not help create stable and efficient economies. During August December 1997, the International Monetary Fund signed three emergency lending agreements with Thailand (August), Indonesia (November), and Korea (December). These programs established packages of international financial support at an unprecedented cumulative sum of approximately $110 billion, based on the financing commitments. During the period August to December, the IMF programs failed dramatically to meet the objective of restoring market confidence. In all three countries, the exchange rate was expected to stabilize, but in fact quickly depreciated far below the targets set in the program, and this despite a very sharp increase in interest rates. Foreign investors remained unconvinced about the debt servicing capacity of the private debtors despite the announced availability of IMF loans, and continued to demand the repayment of short-term loans as they fell due. The IMF programs failed to achieve their goal of maintaining moderate economic growth in the Asian countries. The programs also failed on several intermediate goals, including the preservation of creditworthiness, the continuation of debt payments, and the stabilization of the exchange rate at levels that prevailed upon the signing of the original lending agreements Indonesia was deeply affected by the 1997–1998 crises, more so than its East Asian neighbors. Its economic contraction was deeper and more prolonged. It was the only one to experience a (temporary) loss of macroeconomic control. Eight years have passed since the collapse of Suharto’s New Order regime on the heels of the economic crisis of 1997–1998. During that time, Indonesia’s economy contracted by over 13% in 1998 alone. This followed three decades of virtually uninterrupted rapid economic growth and led to deep social and political crises. Although countries such as South Korea and Thailand were able to overcome their economic crises in a few years, Indonesia’s crisis resolution has been complicated by political instability, at least until 2004, and by a slower recovery. Indonesia was formally under International Monetary Fund management from 1997 to the end of 2003. But the presence of the IMF actually increased the severity of the Indonesian economy, not more than one year after that; there were capital flight out of the country that led to massive unemployment, compounded by the drastic decline in the exchange rate. At the end of 1998 more than 50% of Indonesias population lives below the poverty line. One of the IMFs policy prescriptions is to close 16 banks and it caused the anger of people and withdraws their money in national banks and some foreign banks. In May 1998, due to an agreement between the IMF and Suharto, the government revoked subsidies for food, and raises the price of oil and electricity. This policy had a strong opposition from the people and not long after that, Suharto regime fell. During Megawati regime, in August 2003 the government finally decided not to continue the IMF program and choose to enter the post-program monitoring. The government option raises the consequences that are not much different. IMF can still continue to dictate economic policy in Indonesia because the government still had to consult every economic policy that will be taken with IMF. The Indonesian government announced that they would pay the remaining debt to the IMF, totaling U.S. $ 7.8 billion, within 2 years. It seems to be the correct political decision to break away from the economic policy interventions that has continued since the crisis in 1997. 2008 Financial Crisis Triggered by events in The US and EU The cause or trigger of the 2008 global financial crisis was the boom of the United States housing bubble which peaked in approximately 2005–2006. Since banks began to give out more loans to potential home owners, housing prices began to increase. The increase in house price and improvement of construction activity started around 1992. At that time the Federal Reserve was holding its policy interest rate at an unusually low level by the standards of the past few decades. The good times lasted until 2005, when monetary policy was tightening after another spell of low interest rates. Over that period, construction activity contributed 1/5 percentage points annually to the growth rate of real GDP, and the share of employment in construction and finance, out of the total workforce, rose from 10 ¼ percent to 11 ¾ percent. That is, over this period, of the 27.4 million people added to work rolls (which ended 2006 with a total of 136 million), 4.8 million were directly related to construction and fifi nance. Finally, the nation was left with an excess stock of housing. A contraction in construction transpired to wind down the inventory overhang, which is often a feature of economic slowdowns and recessions. In addition to that, easy lending standards also contributed to the Real estate bubble. Loans of various types (e.g., mortgage, credit card, and auto) were easy to obtain. As part of the housing and credit booms, the number of financial agreements called mortgage-backed securities (MBS) and collateralized debt obligations (CDO), which derived their value from mortgage payments and housing prices, greatly increased. That kind of financial innovation attracted institutions and investors around the world to invest in the U.S. housing market. As housing prices declined, major global financial institutions that had borrowed and invested heavily in subprime MBS reported significant losses. While the housing and credit bubbles were expanding, US Government was going a process called financialization. US Government policy from the 1970s onward has emphasized deregulation to encourage business, which resulted in less oversight of activities and less disclosure of information about new activities undertaken by banks and other evolving financial institutions. Thus, policymakers did not immediately recognize the increasingly important role played by financial institutions such as investment banks and hedge funds, also known as the shadow banking system. These institutions, as well as certain regulated banks, had also assumed significant debt burdens while providing the loans described above and did not have a financial cushion sufficient to absorb large loan defaults or MBS losses. These losses impacted the ability of financial institutions to lend, slowing economic activity. The U.S. Financial Crisis Inquiry Commission reported its findings in January 2011. It concluded that the crisis was avoidable and was caused by: 1. Widespread failures in financial regulation, including the Federal Reserve’s failure to stem the tide of toxic mortgages; 2. Dramatic breakdowns in corporate governance including too many financial firms acting recklessly and taking on too much risk; 3. An explosive mix of excessive borrowing and risk by households and Wall Street that put the financial system on a collision course with crisis; 4. Key policy makers ill prepared for the crisis, 5. Lacking a full understanding of the financial system they oversaw; and systemic breaches in accountability and ethics at all levels.[35][36] Table 1 The Causes and Impacts of Global Financial Crisis Taken from Takatoshi Ito â€Å"Comparison of the Financial Crises: Japan and Asia in 1997-1998 vs. U.S. 2008-09† The Collapse of World Trade Although the crisis is originally from financial sector, trade had great implication that hit countries around the world. Exports collapsed in nearly every major trading country, and total world trade fell faster than it did during the Great Depression. From a peak in July 2008 to the low in February 2009, the nominal value of world goods exports fell 36 percent; the nominal value of U.S. goods exports fell 28 percent (imports fell 38 percent) over the same period. Even a country such as Germany, which did not experience their own housing bubble, experienced substantial trade contractions, which helped spread the crisis. The collapse in net export in Germany contributed to the decline in their GDP which put the country into recession. In the fourth quarter of 2008, Germany’s drop in net exports contributed 8.1 percentage points to a 9.4 percent decline in GDP (at an annual rate); Japan’s net exports contributed 9.0 percentage points to a 10.2 percent GDP decline. Real exports fell even faster in the first quarter of 2009. The Decline in Output Around the Globe The financial crisis was rapidly transmitted to the real economy. The financial disruption was so strong and swift in most countries so that their confidence level in economy fell as well. Confidence levels are measured in different ways across countries, but they were generally falling throughout 2008 and reached recent lows in the fall of 2008 and winter of 2009. As noted, world GDP is estimated to have fallen roughly 1.1 percent in 2009 from the year before. In advanced economies, the crisis was even deeper; the IMF expects GDP to have contracted 3.4 percent in advanced economies for all of 2009. For OECD member countries, GDP fell at an annual rate of 7.2 percent in the fourth quarter of 2008 and 8.4 percent in the first quarter of 2009. Despite the historic nature of its collapse, the U.S. economy actually fared better than about half of OECD economies during those quarters. The decline in industrial production across major economies, each of these economies in January 2009 was more than 10 percent below its January 2008 level, and Japan faring far worse relative to the other major economies. Impact on Developing Countries The impact of the crisis on developing countries will affect different types of international resource flows: private capital flows such as Foreign Direct Investment (FDI), portfolio flows and international lending; official flows such as development finance institutions; and capital and current transfers such as official development assistance and remittances. The World Association of Investment Promotion Agencies foresees a 15% drop in FDI 2009. FDI to Turkey has already fallen 40% over the last year and FDI to India dropped by 40% in the first six months of 2008. FDI to China was $6.6 billion in September 2008, 20% down from the monthly average in year 2008 so far, and mining investments in South Africa and Zambia have been put on hold. The crisis has led to a drop in bond and equity issuances and the sell-off of risky assets in developing countries. The average volume of bond issuances by developing countries was only $6 billion between July 2007 and March 2008, down from $ 15 billion over the same period in 2006. Between January and March 2008, equity issuance by developing countries stood at $5 billion, its lowest level in five years. As a result, World Bank research suggests some 91 International Public Offerings have been withdrawn or postponed in 2008. However, not all developing countries were effected tremendously by 2008 financial crisis. In South East Asia we may take a look Indonesia performance towards the 2008 financial crisis. Indonesia experienced a significant macroeconomic shock at the end of 2008. But, of course, Indonesia was not on its own. Indeed, Indonesia was one of the least affected countries in South East Asia. Although GDP growth slowed markedly to 4.4% in the first quarter of 2009, it did not experience the collapse in growth experienced by countries such a Korea, Thailand and Malaysia. Indonesia’s growth in recent years has been driven predominantly by non-tradeables rather than tradeables, and, although the crisis reduced growth across the board, sectors such as transport and communications, and utilities have continued to grow in double digits. At the same time, the tradeable sector which has performed best is agriculture, which, at 4.8%, has experienced its strongest growth since the East Asian crisis, helping to compensate for the effects of the crisis. Indonesia has learnt from 1997 crisis so that they can manage 2008 financial crisis well. The Role of International Institutions of The G-20 The G-20, which includes 19 nations plus the European Union, is the the main nations of much of the coordination on trade policy, financial policy, and crisis response. Its membership is composed of most of the world’s largest economies and makes up nearly 90 percent of world gross national product. The first G-20 leaders’ summit was held at the peak of the crisis in November 2008. At that point, G-20 countries committed to keep their markets open, adopt policies to support the global economy, and stabilize the financial sector. The second G-20 leaders’ summit took place in April 2009 at the height of concern about rapid falls in GDP and trade. Leaders of the world’s largest economies pledged to â€Å"do everything necessary to ensure recovery, to repair our financial systems and to maintain the global flow of capital.† Furthermore, they committed to work together on tax and financial policies. Perhaps the most notable act of world coordination was the decision to provide substantial new funding to the IMF. U.S. leadership helped secure a commitment by the G-20 leaders to provide over $800 billion to fund multilateral banks broadly, with over $500 billion of those funds allocated to the IMF in particular. In September 2009, the G-20 leaders met in Pittsburgh. They noted that international cooperation and national action had been critical in arresting the crisis and putting the world’s economies on the path toward recovery. They also recognized that continued action was necessary, pledged to â€Å"sustain our strong policy response until a durable recovery is secured,† and committed to avoid premature withdrawal of stimulus. They launched a new Framework for Strong, Sustainable, and Balanced Growth that committed the G-20 countries to work together to assess how their policies fit together and evaluate whether they were â€Å"collectively consistent with more sustainable and balanced growth.† Further, the leaders committed to act together to improve the global financial system through financial regulatory reforms and actions to increase capital in the system. It set up emergency lines of credit (called Flexible Credit Lines) with Colombia, Mexico, and Poland, which in total are worth over $80 billion. These lines were intended to provide immediate liquidity in the event of a run by investors, but also to signal to the markets that funds were available, making a run less likely. In each of these countries, markets responded positively to the announcement of the credit lines, with the cost of insuring the countries’ bonds narrowing (International Monetary Fund 2009b). The IMF also negotiated a set of standby agreements with 15 countries, committing a total of $75 billion to help them survive the economic crisis by smoothing current account adjustments and mitigating liquidity pressures. IMF analysis suggests that this program discouraged large exchange-rate f in fluctuate in these countries (International Monetary Fund 2009). These actions as well as the very existence of a better-funded global lender may have helped to keep the contraction short and to prevent sustained currency crises in many emerging nations. The Government Responses The U.S. executed two stimulus packages, totaling nearly $1 trillion during 2008 and 2009. The U.S. Federal Reserves new and expanded liquidity facilities were intended to enable the central bank to fulfill its traditional lender-of-last-resort role during the crisis while mitigating stigma, broadening the set of institutions with access to liquidity, and increasing the flexibility with which institutions could tap such liquidity. United States President Barack Obama and key advisers introduced a series of regulatory proposals in June 2009. The proposals address consumer protection, executive pay, bank financial cushions or capital requirements, expanded regulation of the shadow banking system and derivatives, and enhanced authority for the Federal Reserve to safely wind-down systemically important institutions, among others. The response of the Federal Reserve, the European Central Bank, and other central banks was taken shortly and dramatic. During the last quarter of 2008, these central banks purchased US$2.5 trillion of government debt and troubled private assets from banks. The governments of European nations and the USA also raised the capital of their national banking systems by $1.5 trillion, by purchasing newly issued preferred stock in their major banks. In October 2010, Nobel laureate Joseph Stiglitz explained how the U.S. Federal Reserve was implementing another monetary policy —creating currency— as a method to combat the liquidity trap. By creating $600,000,000,000 and inserting this directly into banks, the Federal Reserve intended to spur banks to finance more domestic loans and refinance mortgages. However, banks instead were spending the money in more profitable areas by investing internationally in emerging markets. The bank bailout, more formally called the Troubled Asset Relief Program, failed to achieve the ultimate goal. The goal of these bailouts from the perspective of the largest financial institution is billions of dollars in taxpayer money allowed institutions that were on the brink of collapse not only to survive but even to flourish. The legislation that created TARP, the Emergency Economic Stabilization Act, had far broader goals, including protecting home values and preserving homeownership. Congress was told that TARP would be used to purchase up to $700 billion of mortgages and to obtain the necessary votes, Treasury promised that it would modify those mortgages to assist struggling homeowners. However, almost immediately, as permitted by the broad language of the act, Treasury’s plan for TARP shifted from the purchase of mortgages to the infusion of hundreds of billions of dollars into the nation’s largest financial institutions, a shift that came with the express promise that it would restore lending. Treasury, however, provided the money to banks with no effective policy or effort to force the extension of credit. There were no strings attached: no requirement or even incentive to increase lending to home buyers, and against our strong recommendation, not even a request that banks report how they used TARP funds. It raised the issues on accountability in providing the bailouts. Lesson Learnt from 2008 Crisis There are several lessons that can be learnt from 2008 financial crisis. Those lessons are stated below : 1. Aggregate volatility is part of market system. There is a need to have more depth study of aggregate volatility. 2. Long lived large firms (such as financial institutions) may not be fully trusted. We should rethink the role of reputation of firms in market transactions. In addition, we need to revisit the key elements of the economy of organization so that reputation should be derived from the behavior not merely from the asset. 3. Economic growth will only take place if there is real increase in the real commodities not financial commodities. 4. People mistakenly equated free markets with unregulated markets. 5. Policy makers should be flexible in their policies and guided by overall national objectives. 6. All trading countries should diversify both their exports composition as well as export destination. 7. World financial system is becoming fragile so that there is a need to reform the current financial system. Islamic based economy system has great opportunity to alter the existing financial system. Islamic perspective From Islamic perspective, the approach that most suitable which is providing handout to the poor and directly to people affected by financial contracts. There were horrible gaps between the rich and the poor all over the world, which remained existent all the time, even after the fall of the planned economy. It goes without saying that the position in developing and under developed countries is even worse. This uneven and unjust system of distribution needs to be reformed on a conceptual basis. The entire world today is crying on the present financial crisis, but few people have realized that this is basically a crisis of rich people who were playing with loads of wealth, and all of a sudden, their income faced a steep fall. So far as poor people are concerned, they have been living in perpetual crisis all the times, but no one care for them, The present crisis should not be examined within the relatively narrow confines of debt; rather, it is fundamentally a question of social justi ce, a concept that is paramount in Islam. Social justice includes three aspects, namely a fair and equitable distribution of wealth; the provision of basic necessities of life to the poor and the needy; and protection of the weak against economic exploitation by the strong. The debt burden, however, is increasing inequality between rich and poor countries and is tantamount to exploitation. It also means that poor countries are often unable to provide the most basic services for their citizens. The huge debt that currently burdens poor countries has arisen from loans that have charged interest and have not shared risk between the lender and the borrower and have, therefore, contravened the two most fundamental principles of Islamic finance. Islamic commands to refrain from charging interest and to share financial risk seek to avoid the concentration of wealth and the economic exploitation of the weak and thereby prevent situations such as the current debt crisis from arising in the first place. The core belief in Islamic finance is that money should not in itself be an earning asset; therefore, Islam prohibits any and all forms of interest. There are also other systems which prevent an economic crisis of pandemic proportions to arise; contractual relationships in business, finance or trade must be based on trust and familiarity of networks of common experiences (takaful) which implies that debts cannot be repackaged and resold as assets globally to faceless investors while profit must be redistributed directly to the poor (zakat) in the Holy month of Ramadan to build and strengthen social safety nets through institutions of charity welfare and education. Over and above zakat, all Muslims pay zakat fitrah to the poor, during the month of Ramadan, either through state collection centers or direct contributions to the poor. There is a trend within rural areas to identify destitute families and the disabled within the underserved rural areas of the State where they reside. Over the last few years, increasing realization of a topic poverty during an economic crisis creating the new poor among the Muslim working classes and a bnormally high repayment rates through unlicensed loan-sharks and licensed money-lenders have made national banking institutions which serve the poorer rural communities shift their services to the Ar-Rahnu market or Islamic pawn-broking market. Currently four Islamic financial institutions, Bank Rakyat (The People’s Bank); the Yayasan Pembangunan Ekonomi Islam Malaysia (Islamic Foundation of Economic Development, Malaysia); Permodalan Kelantan Bhd (Kelantan Investment Co.); and the Agro bank offer such services to the rural and urban working classes. It has established an Ar-Rahnu X’Change Franchise Network, where it plans to provide an Ar-Rahnu franchise throughout the country, managed by reputable cooperatives of the working classes. Given the acute dependency of the working classes on ready cash in times of emergency and the high rates of interest in regular pawn-broking market, there seems to be few alternatives except to expand the Ar-Rahnu market among Muslims and non-Muslims and charge the poor for ‘safekeeping’ services, rather than interest. Despite the fact that loan disbursements of Bank Rakyat alone is among the services which have contributed to Bank Rakyat’s amazing rise as a successful national cooperative bank, giving out higher than normal dividends to its share holders, loan sharks are virtually setting up desks outside flats and apartment buildings of the Muslim poor in towns and cities to offer cash and carry’ facilities to the desperately poor. This lucrative market speaks volumes of the rise of atopic poverty among those on or below the poverty line, the inadequacy of zakat and disbursements of zakat, the high dependency on regular income earners among the middle classes for welfare driven services and products and unclear nature of the rising wealth of the Muslim and non-Muslim upper classes in Malaysia The Islamic finance can bring on significant gains in money released into public capital and infrastructure. The redistributive mechanisms of surplus are instituted into welfare based institutions such as free or subsidized education, health and child care, education, and even publicly directed employment. Its principles may differ from modern welfare economics except the gains at the far end of the redistributive machinery are similarly directed towards the poor. The policies of the New Economic Policy in Malaysia, state welfares in Brunei, or publicly instituted employment as in MENA countries are more Islamic than regul ar, except they are part of the post-colonial ‘reformist’ policies of Muslim states which preceded the modern up-beat drive towards Syaria’ah compliant finance. Islamic finance, however, has not demonstrated a clear connectivity with redistributive justice as in the post-colonial political economy except through instituted deductions of zakat from dividends of shareholders. Profits from credit or financial corporations are not necessarily redistributed through zakat. Furthermore, for borrowers, the appreciated value of assets and services as forecasted and built into systems and rates of repayments which compensate for the lack of interest and, in reality, repayment rates may even out with the regular—rates are generally fixed in advance unlike regular interest rates which are more flexible, varying according to market conditions. However, it does allow more capital to be released into projects immediately, allowing a more extensive amount of goods and services to be produced, without the worry of serving loans. One, however, has to be assured of significant productivity even in the early stages of the loan but payments of zakat accruing from successful investment, from the financier or production from the borrower are fixed at a low rate of 2.5%. It is also consensual rather than forced (as in income taxation) and Muslim countries in general pur sue income tax collections as the more important thrust of national revenue. There are generally two disparate systems at work in Muslim countries Islamic finance and post-colonial welfare instituted economics. The welfare inputs in Islamic countries which are operational today proceed whether or not there are institutions of Islamic finance in the country. In Malaysia, Brunei, and the MENA countries discussed in this paper, components of welfare economics in heavily subsidized education, health, housing, farming, and welfare for the poor, are part of a post-colonial legacy of social reform to institute economic parity across groups and classes. In these Muslim nations, the public sector has played an important role in employment for Muslim or indigenous citizens, often acting as a social safety net in times of economic crises. However, these welfare driven policies are subject to much criticism since they favour the poor, encourage low productivity, and a non-competitive public sector. As Islamic institutions of welfare catch on with progressive social educa tion through media and networks and become an alternative system of welfare for poorer Muslims through zakat and other contributions, welfare increasingly becomes a social responsibility of the Muslim middle classes. There is hardly any data on how the profits earned by larger corporations of Islamic finance actually become instituted into a system of welfare economics based in Islam. Private investment trusts of political elites or national trusts controlled by them. In a properly instituted system of redistribution, through wages, salaries, educational, and health subsidies and so on, there should be very little wealth differential between the owners of political Capital and citizens but economic disparities are significant in these Muslim countries and it has been shown how gains among the lowest 20% may be offset by higher or equivalent gains among the top 20% income earners of these nations. The production of stable professional middle classes in these nations has led to an enrichment of social capital and welfare driven redistributive institutions through social networks but Islamic conscientisation had sometimes moved this ‘spiritual gain’ as an objective reality. The belief i n ibadah or ‘to do good’ may outweigh the call for greater transparency in the use of national collections of zakat and so on. Many Muslims in Malaysia pay both income tax and zakat, rather than ask for exemption from income tax. They also maintain Islamic voluntary organizations with personal funds, donate to mosques and charities, and make endless food contributions to orphans and the poor. There is very little data gathered on the actual amounts paid privately or anonymously and state-directed contributions, although increasing, are not reflective of actual payments contributed by the middle classes towards Islamic charitable institutions. On the other hand, Muslim based banking and financial institutions are obscure in their social responsibility towards the poor, including their own clients who may be victims of topic poverty during times of economic crises. In conclusion, Islamic institutions of trusts which are state directed or privately administered by banking and credit agencies contain more humanistic principles of investment and redistribution of profits except that there is a missing component—between the principles of redistribution of surplus or profits in Islam finance and the actual mechanisms to provide welfare to the people who are not share-holders or stake-holders. In Malaysia, Brunei, and the MENA countries of the Middle East and North Africa, state agencies assume trusteeships over compulsory collections like the zakat but do not have any institutional mechanisms to enforce private corporations local or foreign to contribute towards the welfare of the poor. Conclusion The first Financial crisis was began in July 1997 when the Thai baht collapse with a series of speculative attacks on the baht extended after quite a few decades of outstanding economic performance in Asia and most of Southeast Asia and Japan having currency depreciation. There some approach to help financial recovery, It is impossible that the government doing nothing when the crisis happened to their country. To prevent currency values collapsing, governments raised fiscal spending in domestic interest rates to exceedingly high levels. And last approach Government providing handouts directly to people affected and providing assistance to the poor like efforts to shield poor and vulnerable sections of society from the worst of the crisis The International Monetary Fund (IMF) is an international organization that provides financial assistance and advice to member countries. It was created out of a need to prevent economic crises like the Great Depression. The large financial packages which the IMF has arranged for countries affected by the Asian crisis and its result have stimulated a debate both among policy-makers and academics as to their costs and benefits. However, IMF has also been criticized for its lack of accountability and willingness to lend to countries with bad human rights record Debtor countries to the IMF are often faced with having to put financial concerns ahead of social ones The cause or trigger of the 2008 global financial crisis was the boom of the United States housing bubble which peaked in approximately 2005–2006. The impact of the crisis on developing countries will affect different types of international resource flows: private capital flows such as Foreign Direct Investment (FDI). However, not all developing countries were effected tremendously by 2008 financial crisis, Indonesia was one of the least affected countries in South East Asia. The G-20, is the the main nations of much of the coordination on trade policy, financial policy, and crisis responses. The first G-20 leaders’ summit was held at the peak of the crisis in November 2008. The bank bailout, more formally called the Troubled Asset Relief Program, failed to achieve the ultimate goal From Islamic perspective approach that most suitable which is providing handout to the poor and directly to people affected by financial contracts the present crisis should not be examined within the relatively narrow confines of debt, rather it is fundamentally a question of social justice, a concept that is paramount in Islam. The practicing of zakat system and waqf contribution to help the poor and needy indirectly will benefit the society. And this is the best approach that government should do by providing help directly to the poor and people affected by financial contract namely firms and banks. If government reduced the amount tax to be paid, cost of production will decrease level of employment and production will increase. Meanwhile, banks will bail out to save company and people indirectly reduced the worry of public causing the level of borrowing and consumption raises. So, as a result, it can stimulate the capital investment of the economy to increase the economic growth and level of GPD. References Fadillah Putra, â€Å"Economic Development and Crisis Policy Responses in Southeast Asia (Comparative study of Asian Crisis 1997 and Global Financial Crisis 2008 in Malaysia, Thailand and the Philippines)† (2008), Public Administration Department, Brawijaya University Federal Reserved Bank of San Francisco Economic Letter †What Caused East Asia’s Financial Crisis?† 98-24; August 7, (1998) Hussein Alasrag, â€Å"Global Financial crisis and Islamic finance† (2007) http://www.muftitaqiusmani.com/index.php?option=com_contentview=articleid=41:present-financial-crisis-causes-and-remedies-from-islamic-perspective-catid=12:economicsItemid=15,retrieve on 11 November 2012 http://www.academia.edu/1133515/Global_Financial_Crisis_An_Islamic_Perspectiv e, retrieve on 4 November 2012 http://en.wikipedia.org/wiki/Financial_crisis_of_2007%E2%80%932008#cite_note IMF_Loss_Estimates-31, retrieve on 4 November 2012 Mohamed Ariff, Syarisa Yanti Abubakar,†The Malaysian Financial Crisis: Economic Impact and Recovery Prospects† (1999) The Developing Economies, XXXVII-4: 417–38 Reinhart, V. (2011). A year of living dangerously : The Management of the Financial Crisis in 2008. Journal of Economic Perspective.25 (1). Pg 71-90. Ibid Recovery from the Asian Crisis and the Role of the IMF, IMF Staff (2000) http:// www.investopedia.com/articles/economics/09/international- monetary-fund imf.asp#axzz2EQhoHzz9, retrieve on 4 November 2012 http://www.nrcc.org/default/Issues2012/2012_Issues_Book_Chapter_Financial_Crisis_Bailouts_and_Financial_Reforms [ 1 ]. Federal Reserved Bank of San Francisco Economic Letter: What Caused East Asia’s Financial Crisis? 98-24; August 7, 1998 [ 2 ]. Federal Reserved Bank of San Francisco Economic Letter: What Caused East Asia’s Financial Crisis? 98-24; August 7, 1998 [ 3 ]. www.wikipedia.com [ 4 ]. www.wikipedia.com [ 5 ]. www.wikipedia.com [ 6 ]. Federal Reserved Bank of San Francisco Economic Letter: What Caused East Asia’s Financial Crisis? 98-24; August 7, 1998 [ 7 ]. www.wikipedia.com [ 8 ]. Mohamed Ariff, Syarisa Yanti Abubakar, (1999) The Malaysian Financial Crisis: Economic Impact and Recovery Prospects: The Developing Economies, XXXVII-4: 417–38 [ 9 ]. Economic Development and Crisis Policy Responses in Southeast Asia (Comparative study of Asian Crisis 1997 and Global Financial Crisis 2008 in Malaysia, Thailand and the Philippines) Fadillah Putra, Public Administration Department, Brawijaya University [ 10 ]. Recovery from the Asian Crisis and the Role of the IMF, IMF Staff (2000) [ 11 ]. http://www.investopedia.com/articles/economics/09/international-monetary-fund-imf.asp#axzz2EQhoHzz9 [ 12 ]. http://www.twnside.org.sg/title/sick-cn.htm [ 13 ]. Reinhart, V. (2011). A year of living dangerously : The Management of the Financial Crisis in 2008. Journal of Economic Perspective.25 (1). Pg 71-90. [ 14 ]. Ibid [ 15 ]. Ibid [ 16 ]. Ibid [ 17 ]. Wikipedia. Financial Crisis 2007. Taken from http://en.wikipedia.org/wiki/Financial_crisis_of_2007%E2%80%932008#cite_note-ssrn-8 [ 18 ]. Wikipedia. Financial Crisis 2007. Taken from http://en.wikipedia.org/wiki/Financial_crisis_of_2007%E2%80%932008#cite_note-IMF_Loss_Estimates-31 [ 19 ]. Ibid [ 20 ]. Greenspan-We Need a Better Cushion Against Risk. Financial Times. March 26, 2009. Taken from http://www.ft.com/cms/s/0/9c158a92-1a3c-11de-9f91-0000779fd2ac.html. [ 21 ]. FCIC Report-Conclusions Excerpt-January 2011. Taken from http://c0182732.cdn1.cloudfiles.rackspacecloud.com/fcic_final_report_conclusions.pdf [ 22 ]. CRISIS AND RECOVERY IN THE WORLD ECONOMY. Taken from http://www.whitehouse.gov/sites/default/files/microsites/economic-report-president-chapter-3r2.pdf [ 23 ]. Ibid [ 24 ]. Ibid [ 25 ]. Ibid [ 26 ]. Ibid [ 27 ]. Ibid [ 28 ]. Velde, D. W. (2008). Effects of the Global Financial Crisis on Developing Countries and Emerging Markets. Policy responses to the crisis. INWENT/DIE/BMZ conference in Berlin, 11 December 2008. [ 29 ]. Ibid [ 30 ]. Ibid [ 31 ]. Ibid [ 32 ]. Ibid

Risk Assessment: Putting a Price on Human Life Essay -- Essays Papers

Risk Assessment: Putting a Price on Human Life Thesis: In the area of risk assessment society struggles, sometimes irrationally, with the value of human life, hoping someday to reach a reasonable balance between cost and effect of saving lives. From the day that each person is born, there is only one fate that everybody can be sure of: some day s/he is going to die. No one can know exactly how or when that is going to happen. Unlike the certainty of death, no one can predict if that newly born individual seeing the outside world for the first time is going to be rich, pretty or happy. Nobody can say if that person is going to get married some day and raise children. The only conclusion that all can reach with absolute assurance is that this child is predestined, like all living creatures in this world, to die some day. In spite of the inevitability of death, it is amazing to see how hard society and individuals try to avoid this unavoidable destiny. Life is customarily considered of utmost value for every one. But at the same time people put their lives in danger each day, actually, several times a day. From the time one gets up in the morning and turns on the light, s/he is exposed to the risk of electrocution that claims 500 lives each year in the U.S. alone (Wilson, 1979). Taking a shower in the morning brings the risk of a fall and cranial trauma that is responsible for five of each 100,000 deaths in the U.S. each year (Viscusi, Vernon and Harrington 1992). The breakfast in the U.S. commonly sets unhealthful food on the table, rich in fat or sodium both elements responsible for a large amount of heart disease, the number one cause of death in the world. Driving to work, taking a bus or riding a bicycle all contain ri... ...ce:your Money Or Your Life?" Reply. {Organizational Behavior and Human Decision Processes} Sep. 1997: 355-73. Pearce, Fred. "Global Row over Value of Human Life." {New Scientist} 19 Aug. 1995: 7. Radford, Tim. "Juggling Life's Comical Odds." {The Guardian} 12 Aug. 1995: 14-15. Singer, Marcos. {Decisiones Estrategicas Y Teoria De Juegos}. Santiago: Universidad Catolica, 1998. Viscusi, W., J. Vernon, and J. Harrington. {Economics of Regulation and Antitrust}. 2nd ed. Cambridge, Massachussetts: The MIT Press, 1995. Wang, X. T. "Framing Effects:dynamics and Task Domains." {Organizational Behaviour and Human Decision Process} Nov. 1996: 145-57. Wilson, Richard. "Analyzing the Daily Risk of Life." {Technology Review} Feb. 1979: 41-46. Wilson, Richard, and E. A. C. Crouch. "Risk Assessment and Comparison: An Introduction." {Science} 17 Apr. 1987: 267-70.

Swimming :: essays research papers

Swimming Learning something new can be a scary experience. One of the hardest things I've ever had to do was learn how to swim. I was always afraid of the water, but I decided that swimming was an important skill that I should learn. I also thought it would be good exercise and help me to become physically stronger. What I didn't realize was that learning to swim would also make me a more confident person. New situations always make me a bit nervous, and my first swimming lesson was no exception. After I changed into my bathing suit in the locker room, I stood timidly by the side of the pool waiting for the teacher and other students to show up. After a couple of minutes the teacher came over. She smiled and introduced herself, and two more students joined us. Although they were both older than me, they didn't seem to be embarrassed about not knowing how to swim. I began to feel more at ease. We got into the pool, and the teacher had us put on brightly colored water wings to help us stay afloat. One of the other students, May, had already taken the beginning class once before, so she took a kickboard and went splashing off by herself. The other student, Jerry, and I were told to hold on to the side of the pool and shown how to kick for the breaststroke. One by one, the teacher had us hold on to a kickboard while she pulled it through the water and we kicked. Pretty soon Jerry was off doing this by himself, traveling at a fast clip across the short end of the pool. Things were not quite that easy for me, but the teacher was very patient. After a few more weeks, when I seemed to have caught on with my legs, she taught me the arm strokes. Now I had two things to concentrate on, my arms and my legs. I felt hopelessly uncoordinated. Sooner than I imagined, however, things began to feel "right" and I was able to swim! It was a wonderful free feeling - like flying, maybe - to be able to shoot across the water. Learning to swim was not easy for me, but in the end my persistence paid off.

John Lewis Christmas Marketing Campaign Essay

This year’s advert, entitled â€Å"The Journey†, hopes to do as well if not better than its predecessor. The ? 6 million campaign created by Adam+EveDDB tells the story of a snowman who travels across rivers, mountains, roads and cities to get the perfect gift for the snowwoman who stands with him in the garden. * The advert could’ve been seen on channel 4 just before Christmas and then it was easily accessible on internet(facebook, youtube, etc). John Lewis also was running a snowman hunt, with six snowmen figures hidden around stores. If customers find them all they could win a price, including a  £10,000 holiday, Sony laptop, spa days and gift hampers. John Lewis has also run social media activity including competitions to win a holiday to New Zealand, where the ad was filmed, and for a family to get their garden ‘snowed up’ for Christmas day. John Lewis hopes to make a â€Å"confident statement† in its Christmas marketing this year through its TV, press, outdoor and in-store activity as well as the Annual, a glossy print title that brings together its Editions magazine and Christmas catalogue into one publication for the first time. The Twitter campaign uses the hashtag #snowmanjourney to track its experiential campaign that is photographing the snowman in different towns around the country. John Lewis has also press released many articles regarding their Christmas advert, in store sales, and competitions. John Lewis P&R department has also write a book that tells the story of the snowman and his journey which is also part of the high profile Christmas campaign, short afterwards the book became one of the most selling books for children. John Lewis has attributed a lift in its crafts offering to its Christmas ad campaign. Items on sale include a ‘Knit Your Own Snowman’. * The campaign was created to persuade more and more customers to come in the store and buy gifts for their loved ones during Christmas time. John Lewis’s advert also delivered strong Christmas, and warm feeling to the viewers so they are also creating the brand. They want to tell and insert John Lewis’s brand in many people’s life. Craig Inglis the Marketing Director at John Lewis said â€Å"the campaigns are not just an investment in making people feel Christmassy, they have commercial effectiveness at eart. † Adverts starring the character proved a big hit – with more than three million views on YouTube. * The target market were people who had families, people who lad loved ones, relatives, and people who had someone one special in their lives, because Christmas it is all about spending time with the loved ones, giving them gifts and have a great time. Also they targeted at other organ ization’s customers for example Marks&Spencer, Boots, etc. Also people who wanted to their bedrooms as they had big sales in their home department. Sales figures Sales for the retailer are up 7. 6% year on year for the week ending 17 November with a strong performance in electrical and home technology driving the growth with a 22. 2% jump in sales. In the five weeks over Christmas John Lewis recorded a 44. 3 per cent rise in its ‘Click and Collect’ service, which allows shoppers to buy products online and then collect them from one of the group’s Waitrose supermarkets, compared with figures from 2011. Total web sales reached ? 684. 8 million in the five weeks to 29 December. Electrical and home technology sales were up by 30. 9 per cent on 2011 with tablets being the retailer’s star festive performer. Fashion and beauty sales rose 10. 4 per cent with home products increasing by 6. 2 per cent. In the last full week before Christmas John Lewis posted sales of ? 157. 8 million, a rise of 26. 5 per cent from last year. A record ? 31. 7 million was then taken on 27 December, the start of the retailer’s clearance sale. Conclusion Overall I think the Christmas campaign has been extremely successful. The reason why I am saying this is because comparing the sales figure from last year and this year they achieved a record this year by stepping over the ? 150 million revenue. Also looking at the promotional mix they have done pretty well again, as we have new products which are the snowman book and the snowman toys, sales offers in their stores at certain products. Their PR department did very well as they came with articles just before launching the advert letting people know when and where will they be able to see the advert. The personal selling was great as well as when going to the check out they would ask the customers if they found everything they need and also if they would be interested in buying the snowman book, etc. Direct marketing was great as well as there was a twitter account where you could fallow the snowman’s adventure, and competitions on Facebook and in store. An improvement I would say it would be that maybe the customers where interested in more sales promotions and more direct marketing would convince customers to buy more products and come to John Lewis more often. Although the Advert did cost a huge amount of money that is nothing compared to the ? 157. 8 million revenue they made last year. Another reason why I think that the campaign was successful was that the advert they made has been voted as the year’s most favourite TV advert. And finally the last reason why I am sure that the campaign was extremely successful was that none of the directors of John Lewis expected a record breaker sales figure.

Free Essays on Weapons Of World War 2

â€Å"Necessity is the mother of all invention†, and so it was taught and learned throughout all of World War 2. During World War 2 weaponry had to be upgraded and revised to fit every situation. The engineers of the war had to constantly develop new and better weaponry. Much like the engineers, the generals and officers were required to develop new ways of outsmarting their enemy. Today most everything is computerized for battle situations, and much is known about all other foreign defenses, but during the period of World War 2 there were many secrets, and a constant distrust of some allies. Tanks were a huge aspect of ground fighting during the war. One of the first tanks used was the Italian M 13/40, which was unreliable and slow at best, therefore this tank did not last long in battle. Axis forces dubbed this tank the mobile coffin for its weak armor plate and all other small tanks defeated it. Allied forces later came to depend on the British Matilda. It had a 2-pound turret gun and a top speed of 15 mph, which was certainly considered quite fast for a tank in 1941. The British Matilda also had a 78mm armor plate and could stand most heavy fire. This tank ruled the grounds, but Axis engineers were busy developing a better tank. Soon after the Axis forces developed the Panzer to end the Matilda era. The Panzer was preeminent when desert fighting came about in 1942. These Panzer tanks were the primary ground force in North Africa, because of their power, speed, and agility. This Panzer model did not last long because the U.S. soon created the General Sherman, which could defeat the Panzer in most cases. While the General Shermans were holding the desert the axis forces were creating a new, far improved Panzer model. The Panzer II and the General Sherman were generally equivalent, and could both take on all other tanks. These tanks were the primary ground force for both Axis and Allied forces for about a yea... Free Essays on Weapons Of World War 2 Free Essays on Weapons Of World War 2 â€Å"Necessity is the mother of all invention†, and so it was taught and learned throughout all of World War 2. During World War 2 weaponry had to be upgraded and revised to fit every situation. The engineers of the war had to constantly develop new and better weaponry. Much like the engineers, the generals and officers were required to develop new ways of outsmarting their enemy. Today most everything is computerized for battle situations, and much is known about all other foreign defenses, but during the period of World War 2 there were many secrets, and a constant distrust of some allies. Tanks were a huge aspect of ground fighting during the war. One of the first tanks used was the Italian M 13/40, which was unreliable and slow at best, therefore this tank did not last long in battle. Axis forces dubbed this tank the mobile coffin for its weak armor plate and all other small tanks defeated it. Allied forces later came to depend on the British Matilda. It had a 2-pound turret gun and a top speed of 15 mph, which was certainly considered quite fast for a tank in 1941. The British Matilda also had a 78mm armor plate and could stand most heavy fire. This tank ruled the grounds, but Axis engineers were busy developing a better tank. Soon after the Axis forces developed the Panzer to end the Matilda era. The Panzer was preeminent when desert fighting came about in 1942. These Panzer tanks were the primary ground force in North Africa, because of their power, speed, and agility. This Panzer model did not last long because the U.S. soon created the General Sherman, which could defeat the Panzer in most cases. While the General Shermans were holding the desert the axis forces were creating a new, far improved Panzer model. The Panzer II and the General Sherman were generally equivalent, and could both take on all other tanks. These tanks were the primary ground force for both Axis and Allied forces for about a yea...

What could possibly replace K-12 and collegeÂÂ

What could possibly replace K-12 and college   It’s no surprise to anyone that the world around us is changing faster than most people can keep up. Rapid technological innovation, increasing globalization of businesses and interconnectivity among people all over the world, and quickly evolving social and cultural norms are all helping to usher in a â€Å"brave new world† of sorts, with tangible ripple effects that affect how we live at all levels. Education is no different. We’ve already witnessed a paradigm shift in the way children are being educated in recent decades, with a greater focus on a STEM-centered (Science, Technology, Engineering, and Mathematics) education beginning in K-12 and continuing through college, and technology making learning more inventive and interactive.For example, in a recent article in Education Week, Richard Culatta, CEO of the International Society for Technology in Education, said the following regarding the biggest impact that technology is having in education: â€Å"Right now, the value is in access to high-quality resources. We’ve moved from 100 percent of learning materials coming from an out-of-date textbook, to interactive materials, and students in remote locations having access to high-quality resources. Technology has enabled learners to explore and learn on their own in ways that were harder to do when the resources all had to come from the teacher. It’s very powerful.†Current and emerging changes in an increasingly globalized world is leading many people- including education experts and educational technology insiders, as well as parents and students- to speculate on what could possibly replace our traditional K-12 and college learning models as we move forward. A perceptual shift regarding how educators are viewing their role in teaching students is taking place, with various ideas regarding a â€Å"traditional alternative approach† gaining attention.A recent article in Psychology Today  takes a closer look at à ¢â‚¬Å"Education’s Future: What Will Replace K-12 and College?† If you’re curious about what learning traditional learning alternatives could potentially disrupt the current field of education as we know it, keep reading!In his article, Peter Gray, Ph.D. and research professor at Boston College, as well as author of Free to Learn, highlights some of the deep problems with the current educational system: â€Å"Ever more people are becoming aware of the colossal waste of money, tragic waste of young people’s time, and cruel imposition of  stress  and  anxiety produced by` our coercive educational system†¦ Children come into the  world biologically designed to educate themselves.  Their curiosity, playfulness, sociability, and willfulness were all shaped by natural selection to serve the function of  education.  So what do we do?  At great expense (roughly $15,000 per child per year for public K-12), we send them to schools that deliberat ely shut off their educative instincts- that is, suppress  their curiosity, playfulness, sociability, and willfulness- and then, at great expense and trouble, very inefficiently and ineffectively try to educate them through systems of reward and  punishment  that play on hubris,  shame, and  fear.†The problems in education that Gray is passionately warning us about are not relegated to the formative K-12 learning years. He sees serious issues in higher education as well: â€Å"†¦what about those years of schooling that we call â€Å"higher education,† especially the four years toward a college degree?  Many young people, because of family and societal pressure, see that as essentially compulsory, too.  For them, college is just a continuation of high school- grades 13, 14, 15, 16.  And those years of schooling are even much more expensive than the earlier ones, which expense must generally be paid by the  parents  or through loans that can sad dle a person for decades.†Gray sees a more cost effective way forward in education, an approach that takes advantage of the natural way students learn and includes practical, real-world work exposure. He outlined the following three-phased approach to education as an effective way to approach K-12 and college education moving forward:Phase I: Learning about your world, yourself, and how the two fit together.According to Gray, the initial years of an individual’s life (the first 15 to 18 years, actually) are designed as a time of self-exploration, play, and discovery. We come to understand and make sense of our world and our place in it through these approaches. We also learn about who we are as unique individuals, what drives us and what we’re passionate about. Then, ideally we start formulating a plan for how we want to devote our time and energy in the future, as productive and functional adult members of society.Gray believes that this approach typifies  "Self-Directed Education,† also referred to as â€Å"unschooling,† and in his vision of the future, â€Å"publicly supported learning-and-recreation centers will enable everyone, regardless of family income, to educate themselves well in these ways.†Phase II: Exploring a career path.Gray contends that a big problem with our current educational system is that it is largely disconnected from clear pathways to the professional world: â€Å"One of the many problems with of our current educational system is that even after 17 years of schooling, including college, students have very little  understanding  of potential careers.  The only adult vocation they have witnessed directly is that of classroom teacher. A student may have decided, for some reason (maybe because it sounds prestigious), to be a doctor, or a  lawyer, or a  scientist, or a business executive, but the student knows little about what it means to be such a thing.†This is a big problem, and can ultimately lead to stressed out and confused parents and teens who have no practical tools for determining what career path is right for them.Gray has a more practical plan for combining real-world career experience and exposure with an education: â€Å"In the rational system of education that I have in mind, students would spend time working in real-world settings that give them an idea of what a career entails before they undertake specialized training for that career†¦In this way they would further their education and gain real world experience while drawing  at least some income rather than accumulating debt.†This approach to education isn’t exactly far off on the horizon. In fact, many companies are already recognizing the value of providing the next generation of employees with early exposure to potential career fields, and the rising number of apprenticeships across the country, according to available U.S. Labor Department data, is proof.Phase II I: Becoming credentialed for specialized work.Gray believes that getting credentialed for ones’ chosen field of work should be an essential aspect of their education. This should include any required specialized learning and training, as well as preparation for any testing required prior to entering the field. According to Gray, â€Å"This is the only phase of the educational system where testing should be essential.†Obviously, this level of individualization in education would require a complete departure from the one currently being used, which is why Gray feels strongly that ushering in a Self-Directed Education model as early as possible in a learner’s formative years  is critical.In sum, what does Gray see happening to the educational models and institutions we already have in place? â€Å"The graded K-12 schools will gradually  disappear, replaced by age-mixed learning centers supporting Self-Directed Education.  Universities will continue on, with public support as centers of research and scholarship.  They will not enroll â€Å"students,† as we think of them today, but, like other institutions, will bring in assistants and apprentices, some of whom may move on, through experience and desire, to become full-fledged scientists and scholars. Community colleges, which already provide useful,  often hands-on training for a variety of careers at relatively low cost,  may expand and become part of a growing system of apprenticeships that involve some classroom training related to potential employment.†Clearly, Gray has very specific ideas regarding what could possibly replace the current K-12 and college models- whether or not they are enacted on a wide scale, and the effect they will ultimately have, remains to be seen.

History of Hersheys Chocolate - Milton Hershey

History of Hershey's Chocolate - Milton Hershey Milton Hershey was born on September 13, 1857, in a farmhouse near the Central Pennsylvania village of Derry Church. Milton was in the fourth grade when his Mennonite father, Henry Hershey, found his son a position as a printers apprentice in Gap, Pennsylvania. Milton later became an apprentice to a candy-maker in Lancaster, Pennsylvania, and candy-making became a passion which Milton grew to love. Milton Hershey: First Candy Shop In 1876, when Milton was only eighteen-years-old, he opened his own candy shop in Philadelphia. However, the shop was closed after six years and Milton moved to Denver, Colorado, where he worked with a caramel manufacturer and learned caramel-making. In 1886, Milton Hershey moved back to Lancaster, Pennsylvania and started the successful Lancaster Caramel Company. Hersheys Chocolate In 1893, Milton Hershey attended the Chicago International Exposition where he bought German chocolate-making machinery and began making chocolate-coated caramels. In 1894, Milton started the Hershey Chocolate Company and produced Hershey chocolate caramels, breakfast cocoa, sweet chocolate, and baking chocolate. He sold his caramel business and concentrated on chocolate-making. Famous Brands The Hershey Chocolate Company has made or currently owns many famous Hershey chocolate candies including: Almond Joy and Mounds candy barsCadbury Creme Eggs candyHersheys Cookies n Creme candy barHersheys milk chocolate and milk chocolate with almonds barsHersheys Nuggets chocolatesHersheys Kisses and Hersheys Hugs chocolatesKit Kat wafer barReeses crunchy cookie cupsMMsReeses NutRageous candy barReeses Peanut Butter CupsSweet Escapes candy barsTasteTations candyTwizzlers candyWhoppers malted milk ballsYork Peppermint Patties Hersheys Kisses chocolates were first introduced in 1907 by Milton Hershey, who trademarked the plume extending out of the wrapper in 1924. Photo Descriptions First: Heart-shaped boxes of Hersheys chocolate are displayed at Hersheys Chicago February 13, 2006, in downtown Chicago, Illinois. The store, the second retail shop for the company outside Hershey, Pennsylvania, opened in Chicago in June 2005. Business at the store has been better than anticipated leading up to Valentines Day Second: The worlds largest Hersheys Kisses chocolate is unveiled at the Metropolitan Pavilion on July 31, 2003, in New York City. The consumer-sized chocolate contains 25 calories; the worlds largest contains 15,990,900.

Supreme Court Essay Example | Topics and Well Written Essays - 250 words - 1

Supreme Court - Essay Example The American government is divided into various arms which perform different functions. SUPREME COURTThe supreme court carries out various functions which include, keeping check and balances on the US executive government. The American constitution empower the supreme court to check and correct the president’s actions. The US Supreme Court is considered to be the most elitist and least democratic institution of the US government This is because it is led by learned judges who are appointed and not elected into their lifetime positions. The supreme court is considered to be the least democratic because the judges are expected to keep checks and balances on the political government, however their actions are not respected thus the debate on their democracy (R. Dye, Zeigler and Schubert).FEDERALISMFederalism is a governership method that allows two or more governing bodies in the same region. Americans uses federalism in governing the Americans using the state laws , federal laws , and local government laws. Federalism has changed greatly in the course of the American history these changes include, eliminating the confederation articles and giving the federal laws supremacy over the state laws (R. Dye, Zeigler and Schubert).CONCLUSIONConclusion the , the supreme court has played a great role in advancing the Americans rights and freedoms over the last six years . These includes legalizing same sex marriages which is in accordance with the bill of rights of the American constitution.

A year of decision for Germany Essay Example | Topics and Well Written Essays - 750 words

A year of decision for Germany - Essay Example Savage fighting on the eastern front had nearly bled the Wehrmacht white. The Germans’ lightning advance had brought them to the gates of Moscow, where the Red Army delivered a blow that began to turn the tide. The hubris that came in the wake of Germany’s startling early successes now served to delude Hitler and the German High Command at a time when they could least afford to ignore facts. Severe losses, badly stretched supply lines and the Russian winter were proving a deadly combination. â€Å"The opposing armies were exhausted. Yet both continued to overestimate their own strength while underestimating that of their opponents. In the short run, the Soviets paid for the miscalculation; in the long run the Germans paid even more.†Ã‚ ¹ The Resurgent British In the west, after three beleaguered years in which the British were brought to the brink of disaster, 1942 saw the completion of a reorganization that finally had the British Empire’s (Name) 2 militaryforces posed to wage war effectively. The transformation had started from the top, where â€Å"under Churchill’s inspiring leadership, as both prime minister and minister of defense, a carefully articulated hierarchy of committees produced coherent and intelligent policy that translated into effective strategy.†2 The change from Chamberlain’s style of leadership to that of Churchill was remarkable, according to one observer. â€Å"The days of mere ‘coordination’ were over for good and all†¦We were going to get direction, leadership, action with a snap to it.†3 ... direction, leadership, action with a snap to it.†3 One of Churchill’s greatest contributions to the war effort was his wartime diplomacy, which facilitated a vital coordination of military planning among the three new allies: Britain, America and the Soviet Union. Though the tide was beginning to turn in 1942, a collective assessment of the situation among Churchill and his partners led to the realization that the Allies’ land forces were not quite ready to take the field on a broad scale. â€Å"In 1942, even as the skies over Britain brightened immeasurably with the accession of the United States and Russia as allies, the combined Chiefs of Staff agreed that bombing remained vital†¦Ã¢â‚¬ 4 In addition to overwhelming numbers, the alliance produced an unprecedented level of concentration and coordination of power. The Noose Begins to Tighten With the U.S. now officially committed to the war in Europe, the strategic moves (or blunders) that led to Germanyâ⠂¬â„¢s â€Å"year of decision† had come full circle – literally so, because the Third Reich was ringed round by powerful enemies. â€Å"At the beginning of the war’s third year, (Name) 3 the Germans confronted a great worldwide coalition, formidably strengthened by Hitler’s declaration of war on the United States on 11 December 1941.† 5 To make matters worse, the American military leadership decided that Germany would be their first objective, and so the Reich would be the first to bear the full brunt of the Allies’ collective power. â€Å"Despite the fact that war had formally begun for the United States with a devastating Japanese surprise attack in the Pacific, Roosevelt and his allies quickly reaffirmed their commitment to the Germany-first strategy†¦Ã¢â‚¬ 6 This â€Å"Germany First† strategy frustrated whatever

The Concept Knowledge Transfer Essay Example | Topics and Well Written Essays - 750 words

The Concept Knowledge Transfer - Essay Example The researcher states that knowledge management defines what is important and vital and enables a firm to create a knowledge transfer system that ensures that workers acquire that grasp of the knowledge and understand how to apply it for improved results. This implies that knowledge transfer is a system through which workers are given guided knowledge upgrade and made to become more productive in their capacities within an organization. Many authoritative writers in the field of human resource management argue that human capital is a tool for competitive advantage and the ability to improve human capital through knowledge transfer ensures a firm remains a leader in the industry. Linda Argote and Paul Ingram in their preliminary study also stated that the creation and transfer of knowledge is the basis of competitive advantage in firms. In building on this premise, they go further to investigate the various facades of knowledge transfer. Knowledge transfer is done on the level of a un it in an organization in the collective sense and also done on an individual basis. For all practical purposes and to attain effectiveness, Argote and Ingram argue that there is the need for firms to identify â€Å"reservoirs† of knowledge in organizations to better focus their efforts and also optimize their resources in knowledge transfers. Through this, they can define the real needs of that unit and streamline it with the overall strategic objectives of the firm. This brings about better results and enhances the planning process and implementation of knowledge transfer activities. The creation and definition of knowledge reservoirs lead to member-member networks and member-task networks that gives significance and meanings to knowledge and its essence in making a firm competitive in outlook. With that background, a firm can streamline its affairs to impart knowledge and also make the best of the knowledge transferred to staff members in their operations.

Academic Skills of Essays and Report Writing Essay

Academic Skills of Essays and Report Writing - Essay Example This paper provides an in-depth discussion on the possibility of academic skills in report writing and essays increasing one’s employability and making them more competitive in the global market.Apart from being knowledgeable, many employers will always want people with critical thinking abilities. In fact, some employers will even prefer critical thinkers to knowledgeable employees. Due to the fact that writing reports and essays usually involve critical thinking one’s critical thinking abilities are always improved in the process. Â  Critical thinking can be defined as a reflective and purposeful analysis, which leads to conclusions that had not been reached before. Â  One reason as to why report and essay writing can be said to enhance critical thinking is the fact that through such processes students usually interact with different perspectives. This makes them able to view situations from various perspectives. Having numerous perspectives will mean that you are a ble to give more than one possible solutions to issues in the field.Some people might have some concept, but fail to present the concept in a manner that it will be easily understood. No employer will be willing to employ an employee who does not know how to present his or her information in a manner that is clear and easily understandable. This is the reason as to why report and essay writing can be of importance in increasing one’s employability. Â  When one is involved in the essay and report writing processes one will definitely be in a position to know how to present concepts in a manner that they can easily make sense. If one is not able to present concepts and ideas in a way that some meaning can be deduced from them, then the concepts and ideas are as good as non-existent. This is because it would not be of any help to the organization.

BJB Manufacturing Company Quality Management Initiative Proposal Research Paper

BJB Manufacturing Company Quality Management Initiative Proposal - Research Paper Example ..3 The Total Quality Management†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦..†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.4 Process Management†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦...4 Managing the quality of the products†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦..4 Employees†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦4 Shareholders†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.5 The Executive Management†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã ¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦5 Consumers†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦5 Partners†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦5 Advantages of the Total Quality Management to BJB†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦6 The role of leadership†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦..6 Leadership and control†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã ¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦6 Approving budgets†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦..7 Introduction BJB is a manufacturing firm that produces car radios to be used in many types of cars. The firm needs to monitor and improve its quality management by putting in place a total quality management process. Current situation The following are some of the areas that are of concern to the BJB’s TQM. BJB does not involve employees in its total quality management. BJB does not have a way to involve consumers to improve its product quality. There are no repetitive processes to make sure that the production system is continually improved to increase quality and reduce costs For the BJB to be able to access the new market and increase its market segment, it needs to be able to produce high quality produc ts across its product range. The products are a range of car radios for different kinds of cars. Accessing the new market will need a solid Total Quality Management System that will improve the production and increase quality of the products produced by the firm. Proposed total quality management The proposed TQM for BJB will consider the following factors: New Market BJB is trying to access new markets, and to do this it has to have products that are competitive in terms of their quality. The fact that BJB is trying to access new markets also means that the firm has to know not only how to increase the quality but also how to minimize costs so as to use cost advantage to sell at lower prices. The products produced by BJB are not used directly by the consumers, but have to be used along with other products (i.e. vehicles), and BJB needs to consider this in planning its TQM. In this regard, BJB’s Total Quality Management has to ensure that it is will be synchronized with the m anufacturers of motor vehicles. This will be useful in making sure that the products of BJB are compatible with the products of all the car manufacturers, and this will be important because without this compatibility, there can be no market for the BJB’s products. The TQM Process management The process will be monitored to make sure that there are no bottlenecks that may make the system less efficient. BJB should be professionally responsible in making sure that the manufacturing process is incrementally improved every month, to make sure that all inefficiencies are

Academic Skills of Essays and Report Writing Essay

Academic Skills of Essays and Report Writing - Essay Example This paper provides an in-depth discussion on the possibility of academic skills in report writing and essays increasing one’s employability and making them more competitive in the global market.Apart from being knowledgeable, many employers will always want people with critical thinking abilities. In fact, some employers will even prefer critical thinkers to knowledgeable employees. Due to the fact that writing reports and essays usually involve critical thinking one’s critical thinking abilities are always improved in the process. Â  Critical thinking can be defined as a reflective and purposeful analysis, which leads to conclusions that had not been reached before. Â  One reason as to why report and essay writing can be said to enhance critical thinking is the fact that through such processes students usually interact with different perspectives. This makes them able to view situations from various perspectives. Having numerous perspectives will mean that you are a ble to give more than one possible solutions to issues in the field.Some people might have some concept, but fail to present the concept in a manner that it will be easily understood. No employer will be willing to employ an employee who does not know how to present his or her information in a manner that is clear and easily understandable. This is the reason as to why report and essay writing can be of importance in increasing one’s employability. Â  When one is involved in the essay and report writing processes one will definitely be in a position to know how to present concepts in a manner that they can easily make sense. If one is not able to present concepts and ideas in a way that some meaning can be deduced from them, then the concepts and ideas are as good as non-existent. This is because it would not be of any help to the organization.

Student Plan Research Paper Example | Topics and Well Written Essays - 750 words

Student Plan - Research Paper Example Nonetheless, in order to achieve my goals in each course unit and overall academics, I have to come up with a plan on how I will go about it in order to achieve the desired outcomes. Nonetheless, this paper is a purpose plan that will explore the goals that I have as far as my academics and profession is concerned. As a learner, I desire to achieve academic excellence, however, this narrows down to various aspects. In addition, as a professional, I desire to perform well in my profession, and experience a higher level of satisfaction. Nonetheless, this paper will address these issues in a more specific manner. Furthermore, this will be discussed in relation to this course, including the knowledge I have gained, and how this influences positively to my career and my level of knowledge. As an individual in the teaching profession, I consider a purpose plan important for my teaching practice. The reason I came up with the idea of a purpose plan is to help me enhance my profession, inclu ding my performance. I realized that I needed some sort of a direction to guide me through the journey to the achievement of my professional goals. Another factor that contributed to my development of a purpose plan is the desire to achieve academic excellence. ... Mainly, I have a purpose of improving my teaching methods. This will help me to ensure positive results in my learners, as well as in myself, especially with regard to performance and job satisfaction. With regard to my academics, I also have a purpose of ensuring positive outcome, thus excellent results. This therefore, includes an aim for high scores in this course unit, as well as the others. Apart from the excellent performance in academics, I also have a purpose of ensuring that I have learnt and mastered major skills that are related to academics. This mainly includes research, writing skills, communication skills, and report writing skill, among many others. Although I have learnt these skills, I have a purpose of ensuring that I have perfected in them. Professional Development Specifically, with regard to my professional development, I wish to accumulate different skills and a wide body of knowledge. According to Riley (2010), wide knowledge enables one to solve various chall enging situations that they experience in their profession. Nonetheless, through the study topics I have tackled in this course, I purpose to ensure professional development by attaining the advanced knowledge, values, and skills, which are all paramount for the development and advancement of my career. I also purpose to experience professional development through this course by gaining the skill of teamwork. With teamwork, I will be able to work effectively on collaborative tasks with my colleagues. In this course, I have had the opportunity to meet different people with whom I have worked and interacted with. Therefore, I should learn this and