The Synergistic Effect of State Regulation - MyAssignmenthelp.com

Question: Examine aboutThe Synergistic Effect of State Regulation. Answer: Presentation The current examination presents an exhaustive investigation of the compensation report of the organization Westpac Banking Corporation (WBC) to increase understanding in regards to official compensation and compensation. This portion presents subtleties of the exhibition quantifies that are used and assesses the benchmarking and scorecards alongside the utilization of various non-budgetary measures. Moving further, this examination additionally audits the accessible writing on assorted parts of techniques used for investigation of official compensation and gets a few insights regarding the measurements utilized. Besides, the examination likewise presents media reports and points of view of experts to research any sort of open conversation about the compensation of the relevant official. Survey of subject: The subject viable shows existing writing on compensation of the organization Westpac Banking Corporation (WBC). Nitty gritty survey of the compensation report uncovers the way that compensation technique of the firm Westpac Banking Corporation (WBC) is structured and created to pull in and simultaneously holds gifts. The administration of the firm follows a compensation technique focused on maintenance of experienced, qualified individuals from the board and strategies to compensate them appropriately. Fundamentally, the compensation strategy of the gathering underpins the vision just as procedure by methods for requiring the structure and organization of compensation to line up with the client and interests of investors. WBC has a compensation Committee that guides the board to fulfill the compensation accountabilities to different investors by checking the arrangements of the compensation just as practices of the whole gathering, activities of the outer compensation, advertise des ires and administrative necessities in Australia and universally. Audit of writing: Investigation of the organization writing introducing compensation report of the organization Westpac Banking Corporation shows that the exhibition of each section is dissected and listed with direction to the way chance is taken care of (Maas and Rosendaal 2016). Moreover the results are likewise expected to impact compensation results for responsible laborers. Both the load up just as the compensation board of trustees distinguishes the scorecard approach at the hour of tolerating a scope of reciprocal execution destinations, may not help in total appraisal of generally speaking execution. The compensation board of trustees along these lines utilizes optional acclimations to the scoreboard results for both the CEO just as gathering officials (Deschenes et al. 2015). The Group adjusted scoreboard utilizes various measures to be specific, financial benefit, center profit development, capital administration and adherence to aggregate hazard hunger the executives. Furthermore, the reasonable scorecard additionally utilizes administration goals, development roadways, computerized change, individuals and manageability as proportions of execution (Safari et al. 2016). The gathering worried over the arrival over development and necessities of capital along with the credit chance weighted resources (Story 2014). The component of financial benefit that alluded to the fundamental returns that produce an incentive for organization investors have 30% weight and appraisal of execution is finished by dissecting the hole among target and accomplished. Thus center development in income demonstrated by the income development and comparing costs of the firm has 10% weight. The exhibition of the CEO is likewise assessed by breaking down smooth conveyance of steady just as maintainable development in companys center income Westpac.com.au. (2018). Execution disciplines are additionally counted by inspecting the board of capital that helps in giving solid, steady just as reasonable capital establishment dependent on which business can develop. Announcements show that Capital just as liquidity positions are very much situated to fulfill novel necessities and it has 10% load in investigating execution (Riaz et al. 2015). Once more, consistence to the hazard hunger proclamation likewise helps in verifying that the organization can work inside the adequate furthest reaches of hazard resilience (Gitman et al. 2015). This measurement conveys 10% load in assessing execution as far as outside hazard, administrative just as consistence condition Westpac.com.au. (2018). What's more, administration goals additionally helps in putting clients at the center of all that they perform and go about as a compelling proportion of the presentation in the scorecard. Also, building expressways of development can help in making sure about up and coming development in explicitly income. This conveys 10% load in the scorecard for estimation of execution of CEO. The proportion of computerized change can be viewed as a decent measure that investigations the arrangements that gauge the prerequisites of the clients. WBC has achieved profitability investment funds by methods for digitizing activities and exchanges, diminishing manual activities and upgrading e-proclamations. This fragment likewise shows that the organization overhauled the Cyber security Coordination Center for better identification to overall patterns, novel consider focus system that can tangibly improve the experience of calling WBC (Westpac.com.au (2018). Moreover, the portion of individuals in the scorecard bears the heaviness of 10% and is utilized in examining the condition that moves then workers to perform to the best of the abilities and all the while drives the right conduct. The organization has been pronounced as the Dow Jones Sustainability Indexs most practical establishment for fourth back to back year. Table: Reward Structure (Source: Westpac.com.au 2018). Table: Performance Scorecard (Source: Westpac.com.au 2018). The all out remuneration structure of the firm WBC shows execution alongside administration just as hazard change overlay. The yearly report imitates the way that the presentation is fundamentally inspected by the organizations board with direction to the hazard the executives systems of the gathering and its different divisions. Table: Reward Structure (Source: Westpac.com.au 2018). Investigation of the prize structure shows that in factor reward area, both money related just as non-monetary execution is in accordance with the technique of WBC over the short just as the medium term time frame. In STI (transient motivator) financial benefit, results of clients, individuals just as manageability are utilized as explicit measurements. Once more, TSR is utilized as an exhibition measure in long haul motivator (LTI) of the variable prize structure of the firm. Once more, ROE means to remunerate explicit accomplishment of earned returns that is well beyond the capital expense while producing estimation of investors (Westpac.com.au 2018). Extensive work is embraced on especially lead just as culture with focus on fortifying behavior the board all through the gathering. The Media report shows that the organization is reacting to the adjusting administrative just as industry scene with explicit activity on item remediation program, initiating Australian Bankers Association industry recommendations and expanding the compensation system. Once more, an article distributed in November 2017, from the Financial Review specifies that the bank request wants to deal with the manner in which the banks dispenses the official compensation and should be put under magnifying instrument. End As per the report, the fundamental driver of the way of life of the bank is the compensation bundle of the officials. In view of this, it very well may be said that the upgraded presentation of the monetary exhibition of the Group and remarkable vital headway prompted an expansion in momentary motivators that is payable to boss administration work force during this year. Consequently the Board needs to consider that, all in all, execution all through a wide scope of measurements outperformed recorded desires. Along these lines, it is essential to contemplate the compensation structure and the results in this manner picked up from the compensation bundles. Investigation of the yearly report of the firm additionally duplicates the way that the drawn out motivations of the firm likewise didn't vest since the broadening snags that was set by the load up when the impetus were first pronounced during the year 2014 were not accomplished. In that capacity, these drawn out motivations may ord inarily comprise of 33% of the compensation of the official. References Deschenes, S., Boubacar, H., Rojas, M. what's more, Morris, T., 2015. Is top-administration compensation affected by board characteristics?.International Journal of Accounting Information Management,23(1), pp.60-79. Edmonds, T.P., Edmonds, C.D., Tsay, B.Y. what's more, Olds, P.R., 2016.Fundamental administrative bookkeeping ideas. McGraw-Hill Education. Gitman, L.J., Juchau, R. what's more, Flanagan, J., 2015.Principles of administrative account. Pearson Higher Education AU. Maas, K. what's more, Rosendaal, S., 2016. Manageability focuses in official compensation: Targets, time span, nation and area specification.Business Strategy and the Environment,25(6), pp.390-401. Riaz, Z., Ray, S. what's more, Ray, P., 2015. The Synergistic Effect of State Regulation and Self-Regulation on Disclosure Level of Director and Executive Remuneration in Australia.Administration Society,47(6), pp.623-655. Safari, M., Cooper, B.J. furthermore, Dellaportas, S., 2016. The impact of compensation structures on monetary revealing quality: proof from Australia.Australian Accounting Review,26(1), pp.66-75. Story, J., 2014.New Perspectives on Human Resource Management (Routledge Revivals). Routledge. Westpac.com.au. (2018).Annual reports | Westpac. [online] Available at: https://www.westpac.com.au/about-westpac/speculator focus/monetary data/yearly reports/[Accessed 6 Jan. 2018]. Weygandt, J.J., Kimmel, P.D. furthermore, Kieso, D.E., 2015.Financial Managerial Accounting. John Wiley Sons.

Death Of A Salesman Essays (1073 words) - English-language Films

Passing Of A Salesman Passing of a Salesman: In the play, Arthur Miller's Death of a Salesman: Willy Loman, a thoughtful sales rep and abominable dad who's ?life is a pushing off? has a few characteristics that coordinate Aristotle's perspectives on a shocking saint. Willy's arrangement of ?high points and low points? is indistinguishable to Aristole's perspectives on appropriate unfortunate figure; a lord with blemishes. His flawed character, the money related battles, and his inabiltity are three substantital imperfections that add to his disappointment and sad end. Willy, a maturing sales rep who sells nothing, is manhandled by the purchasers, and repeatly gets cash from Charley to make a decent living. He is irritated by the way his chief, Howard terminated him subsequent to laboring for thirty-four-years at a similar organization, ?You can't eat the orange and discard the strip - a man isn't a bit of organic product!? (Mill operator, 61). Willy is doing combating for his life, battling to support a feeling of himself that makes it beneficial living at all in a world which apparently offers less and less space for the person. Presently, If the facts demonstrate that disaster is the consquence of a man's all out complusion to assess himself legitimately, his devastation in the endeavor places an off-base or a malevolence in his condition. Furthermore, this is correctly the profound quality of disaster and its exercise. The revelation of the ethical law, which is the thing that the illumination of catastrophe comprises of, isn't the disclosure of some theoretical or powerful amount. (mill operator, basic man) His concern is that he has so totally acknowledged the estimations of his general public that he judges himself by norms established in social legends as opposed to human necessities. This absence of understanding is strikingly similiar to attributes of the lamentable legend. As Aristotle's composes, the terrible legend, ?Lives for respect and distinction?. The glaring purpose of his flawed character of ignoring others incorporates those nearest to him, his significant other, Linda and his two children, Biff and Happy. ?You'll resign me for life on seventy goddamn dollars seven days (Miller, 28) is proof of the pitilessness Willy can appear toward Happy as he does to Biff. Willy squeezes his more established child, Biff, to get him out in his period of scarcity, ?Hap, [Willy] got the opportunity to comprehend that I'm most certainly not the man someone loans that sort of cash to,? (Mill operator, 81). Before, Biff went unexpectly to Boston, to an inn where Willy was staying and asks Willy to return to New York and persuade his math educator to give him a ?passing evaluation? in a math course so he can graduate on schedule. While there, Biff sees the ?WOMAN' in his dad's inn room. Willy, from the start, claims she is in the room since her shower is broken; at that point he changes the story and says he knows her through work, ?They're painting her room so I let her wash up here. Return, go back...? (Miller,93). It didn't improve at home either. He continually puts down his significant other and abhors it when she intrudes on him in his discussions with Biff and Happy, Willy responds angrily,?[to LINDA]: Stop intruding!? (Mill operator, 47). Willy does the best as he know how since his dad was never there for him. In spite of the great impact Willy has on his significant other and two children, he is a decent dad to his children - on the grounds that he invests energy with them. Generally, he is a not too bad spouse who never manhandled his better half however his wrongs outweight the postive things he did for his family. He makes some troublesome memories offering anything to acquire cash, ?A hundred and twenty dollars! My god, if business don't get I don't have the foggiest idea what I will do!?, (Mill operator, 23). He buckles down he has nothing to appear for it. He concludes that it was hard for him to head out to spots of business and asks his chief, Howard, on the off chance that he can work nearer to home in New York. He gets terminated for inquiring. His budgetary battles proceed with late bills, and no installment for his top notch protection; he is venturing profound into the red. He overlooks the issues and imagines that everything will be okay. On account of the blasting economy, he is abandoned in the residue; everyone goes after situations in their individual callings, in the realm of America's business. For, on the off chance that it is consistent with state that basically the disastrous saint is goal after asserting

Jon and me

Jon and me Last night, Jon Stewart announced his plans to leave  The Daily Show, which he has hosted since 1999. The news shocked his studio audience and his far-flung fans. Maybe that was the case for you. It definitely was the case for me. I was 12 when Jon Stewart began hosting TDS, but the first episode I really remember watching was the night of September 11th, 2001. I was a freshman at a new school in a new town in a new state; in fact, I was still living in an extended stay hotel with my family because we hadnt yet been able to move into our new home. My world, which throughout my (privileged) childhood had seemed like a stable and comprehensible place, had suddenly exploded into almost unintelligible complexity both locally and globally. On that night, and many that followed it, Jon Stewart was one of the people who helped me pick up the pieces and start to make sense of them again. I watched TDS nearly every night in high school, alone, with my brothers, or with my best friend Shane. It was the only television show for which I consistently made the time. It was a source of news, humor, and moments of zen, but even more fundamentally, it shaped the way I came to see the world. I expect that most people reading this have seen at least an episode of TDS and are familiar with its basic approach under Stewart: juxtaposing clips to expose hypocrisy and conjure humor, cluelessly confident/confidently clueless correspondents, and interviews that ranged from the inane to the interrogative (often in the same segment). Whats harder to express or explain is the impact that watching The Daily Show, well, daily, had on me: the skeptical, sarcastic drive to call out BS, animated by an earnest belief that there is a truth out there that is worth searching for, even if you can never quite apprehend it. More than a decade (and a graduate degree in media studies from MIT) later I now have concepts that help me understand and critique Stewarts approach at an intellectual/theoretical level (the rhetorical mode of the ethical appeal; the problematic ideal of moderation for its own sake), but I only encountered these concepts in the academic context long after  they had already been baked deeply into the way I saw and interacted with the world. Under the influence of TDS I  became a news and politics junkie, taking as many civics courses as I could during the day and mainlining political forums  every night. I cofounded the school newspaper (with my friend and fellow alum  Dara) in part so I could editorialize on current events. When, during my senior year, the faculty gave me the award for excellence in social studies and my classmates voted me class clown, I really felt like I was developing a sense of myself. That fall, I applied to a bunch of SLACs and state colleges in New Englandand also to the College of William and Mary, in Williamsburg, Virginia, in large part because Id read Stewarts commencement address; when I got in (off the waitlist), I enrolled, in large part because Stewart had attended. It turns out that this is in fact a terrible way to pick a college, and I soon transferred. At UMass, I rigged up a projector in my dorm room and watched TDS while practicing guitar, and got a job for a website aggregating w eird news and writing jokes about it. When I came here, and had to learn to tell the story of MIT in information sessions, I hoped I could eventually make it funny. It wasnt until Dave told me that my delivery sometimes reminded him of TDS that I realized how profoundly my sense of whats is funny had been shaped by the show. I never have been, and never will be, as funny as Jon Stewart or any of his talented team, but when (occasionally, accidentally) I am funny, it is often because Ive seen something the way he (and they)  taught me to see it. When I do the best I can, reading applications and in committee, to cut through BS and try to figure out what the right thing to do is, however naive and unreachable that hope might be, its in part because he did that to more powerful figures before a more public audience.  And when (like now) Im painfully, awkwardly earnest in blog posts, searching for a truth we can never reach but thats still worth seeking, I know that his voice in some way inflected what has become my own. I titled this post Jon and me. This is not really accurate: there is no Jon and me. Jon Stewart has no idea who I am and no reason to care. There is, however, a Jon, and me. Because even though I havent often watched TDS  over the last few years (because: applications), and even though I can more clearly see when and where the show succeeds and fails, his humor, insight, and moral clarity shaped me as much as almost anyone outside my immediate family. Generally speaking, we dont pick our role models: our role models happen to us. All things considered, I could have had a lot worse happen to me. And now, for your moment of zen, a (young) Jon Stewart introducing himself back in 1999. A moment for us is gone, but from change comes growth. Thanks for everything, Jon. Heres to whatever you do next. The Daily Show Get More: Daily Show Full Episodes,The Daily Show on Facebook,Daily Show Video Archive

conduct marketing audit assessment task 2 - 1449 Words

Sarto’s gourmet pasta process good information about the market and knows a great deal about the common attributes of our most prized and loyal customers. Sarto’s gourmet pasta will leverage this information to better understand who is served, their specific needs, and how sarto’s can better communicate with them. External audit External macro-environmental factors Economic factors: pasta sales are expected to grow by at least 10% for the next years. One of the reasons for this is the increase in number of hours people are working, which has resulted in more number of people eating out. Based on economic forecasts, the business believes that interest rates are coming down which will creat more disposable income, and therefore, more†¦show more content†¦These focus group provided useful insight into the descision and dicision making process of customers. An additional source of market research is carried out by suggestion card system. Sarto’s claim that it will work hard to implement reasonable suggestions. Access to ongoing market research will be achieved via the publication from the restaurant association but according to adriana como, even though there was sufficent data available in the restaurant association monthly magazine but this infromation not being used. The magazine is just kept for the staff and its never consulted by Mario. Internal sales data The internal sales data showed that the business would need $45,000 in monthly revenue to break even. The sales forecast which have been prepared keep in mind a 65% gross margin, however, based on actual figure for 2009, this target has not been reached, and the forecasted sales have fallen. Supply chain management and ligistics Adriana como is currently incharge of sales and promotions of the restaurant. Based on the interview conducted with her one fo the biggest problems she is facing that the phone ordering system is constructed in the kitchen next to cook with most responsibility to compile and check every meal. This has been creating real logistcsShow MoreRelatedUnit 3-Business Studies Level 31729 Words   |  7 PagesRSA Academy BTEC Nationals in Business (Level 3) (September 2010 onwards) Unit 3: Introduction to Marketing |Route: |BTEC Level 3 Certificate Diploma | |Unit code: |Y/502/5411 | |QCF Level 3: Read MoreAssigment Essay8327 Words   |  34 PagesAssessment Materials BSBMKG515A Conduct a Marketing Audit To achieve competency in this unit you must complete the following assessment items. All tasks must be submitted together. Tick the boxes to show that each task is attached. ï‚ · ï‚ · ï‚ · Task 1. Marketing Plan Review Task 2. Conduct a Marketing Audit Task 3. 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The Importance of the Structure of Dna - 1582 Words

Ka Zhu The Importance of the Structure of DNA Understanding ideas at a macroscopic scale is simple. Looking at a clock, observing and understanding the movements of the hands over the numbered surface are, in essence, all one requires to use the device. In order for innovation to occur, it is imperative to understand the inner workings of the device on a microscopic scale to modulate its properties. Such is the case for many innovations in science, from the heat engine to penicillin, and is no different for biological advancements. Like the seed of a plant, the understanding of the structure of DNA constitutes the basis of all life, establishing a foundation upon which explanations of increasing complexity can be developed. In the eyes†¦show more content†¦Although it is clear that the discovery of the structure of DNA was not a Kuhnian Revolution, the information is still a crucial part of the foundation of biology and human understanding of their surroundings. Naturally, humans e xist in a dimension where they acknowledge their surroundings with the help of the naked eye. With physics, humans are able to venture to a macroscopic dimension of enormous celestial bodies enveloped in vast, seemingly endless space to interpret the behaviour of their surroundings in addition to what was currently known. The discovery of the structure of DNA enabled humans to venture into a new dimension to further extend their understanding of the world to microscopic elements. Not only does the new dimension allow for the development of scientific explanations for the behaviour of organisms, but it also grants humans the knowledge and power to manipulate their surroundings at a new microscopic dimension, thus allowing them to advance civilization in a completely new frontier. Before the major discovery with DNA, there were merely simple observations and conceptualizations of observable biological phenomena (Schrà ¶dinger,Show MoreRelatedYu Sun Park. Dr. Murphy. 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Venice Commentary Free Essays

Tyler Every March 25, 2013 Written Commentary 6: Venice by Jan Morris The author’s purpose is to describe the setting by contrasting her culture to Venice and by using irony to display the people, surroundings and daily life. A mother who just started living in Venice is telling us about the setting and her life in Venice. She uses irony, humor and contrast to build the imagery of the city and people. We will write a custom essay sample on Venice Commentary or any similar topic only for you Order Now Throughout the passage the author uses irony to convey the surroundings and the image that the city is not somewhere you would want to live in. The irony of her arguments is that her reasoning in why Venice isn’t a pleasant city to live in, because it is â€Å"inescapably urban,† (line 8) and that there are no gardens for kids to play. A worthy excerpt is â€Å"It is not altogether an easy city for children to live in. It has no dangerous traffic and few unspeakable rascals; but Venice is inescapably urban, and only lucky children with gardens, or with parents indulgent enough to take them to the distant park, have somewhere green to play† (Lines 7-9). She uses false dilemma by focusing only on the black and white of Venice. She focuses on that Venice has no garden, so that she still misses her culture and country. She focuses only on the immoral instead of the safety or great things about Venice. She sees Venice being inescapably urban as a gigantic dilemma while she says it is a rigid city to live in; it has no dangerous traffic and rascals. Here the mother uses sarcasm to present humor during the passage. The protagonist also uses irony when describing actions, people and the setting. Morris uses two words in pair like sickly intensity, unashamed delight, exquisitely ludicrously, inescapably urban, blithe pathetic, lugubriously assure, dauntingly spotless and frighteningly well informed. Using two words that are opposite, Morris creates irony. By juxtaposing these words, Morris also creates imagery. It creates an image of what the mother sees as an outsider. Through her eyes we see Venice as a city filled with buildings and houses and no green gardens because of the surrounding buildings. The author uses detail and diction to indicate her attitude toward the Venetian people. She does this mostly in the first and second paragraph. â€Å"Venetian mothers show signs of instant cardiac crisis if little Giorgio ventures within six feet of water† (line 2-3), she makes fun of venetian mothers by pointing out that they will have a cardiac crisis when their children are close to the water, they are to over protective of their children. The humor in this is that Venice, Italy is surrounded by water, and so Venetian mothers would be losing their cool for their little Giorgio. With these details and diction, she is making a mockery of the Venetian people. â€Å"Venetian children are exquisitely, if sometimes rather ludicrously dressed: the minutest little baby girls† (lines 3-4), minutest means extremely small, by using repetition, the author is emphasizing the point that the mother doesn’t like the Venetians because she criticizes them throughout the passage. Using exquisitely and ludicrously who are on complete other spectrums in terms of meaning. The children are beautiful, but at times foolish. Blithe but pathetic are the groups of urchins to be found entertaining themselves† (line 10) blithe and pathetic are two contrasting words. The mother also stoops so low by calling the children urchins again going to mischievous and raggedly dressed. The author also uses humor to appeal to our sense and keeping us attracted. Humor is present in â€Å"When the Doge’s palace was burnt in 1479, the only record left of Petrarch’s i nscriptions upon the walls was the notebook of Marin Sanudo, who had taken the trouble to copy them down when inspecting the palace at the age of eight. He went on to write a history of the world in fifty-five volumes)† (lines 30-33). It made me laugh the thought of seeing little Giorgio next to the water while his mother loses her cool. The last two sentences leave us with a wisecrack about the Venetians. When the Doge’s Palace burnt they had no copies of Petrarch’s inscriptions except the one of a child’s notebook. It is hilarious to think that they had to copy someone’s notebook’s writing or put that as their historical record. Also saying that this kid went on to write the history of the world in fifty-five volumes is absurd. Who would ever do this? The mother leaves us with this remark again mocking the Venetians for their â€Å"lack of intellect and absurdity† and reliance on a kid’s notebook. When reading that this kid later writes the history in fifty-five volumes, the author creates this image that the Venetians lack the purity of Petrarch’s records and that their claimed knowledge from the child’s notebook might be terribly wrong. Thus, leaving us laughing at the Venetians and proving her point of mockery. How to cite Venice Commentary, Papers

Glut Of Poultry Saves Shoppers Chicken Feed- Free Sample

Question: 1. What information would be required to determine whether the poultry processing market, which produces "disassembled bird parts," is competitive? Briefly explain the significance of whether this market is competitive or not. 2. Now, assume this market is competitive. Based on this assumption, describe the short-run equilibrium for both the market and a typical processing firm. Using both graphical and algebraic approaches, interpret and explain the key features of the equilibrium. Answers: 1. In order to determine whether the poultry market is competitive, there should be changes in the variables like price. The price of the poultry products is also in the similar range, which means there is a very small difference in the prices. In order to attract the customers there is price war, which is exerted by the producers. In a competitive environment, the demand is high. In a poultry glut economy, demand would be low due to Asian H5N1 flu infection. The buyers are reluctant to buy chicken that is infected by the virus. The competitive market is the one, which includes rivalry among the sellers and are always willing to gain large market share and increase the rate of profit. The poultry market in this scenario can be termed as uncompetitive as the sellers are lessening the price due to chicken slump so that more customers are attracted. The processing firms in the competitive market would still wedge a price war so that more customers are attracted despite the market scenario. The firms would offer more discounts to the suppliers so that market share is increased (Gray, 2016). 2. When there is competitive market in the poultry market then there is no lack of information in the market. The processed market for chicken has seen to affect negatively the normal operations. This change has not affected the demand of chicken items of the fast food industry. In the production market, producers are the first to be affected by the price change. When there is no free flow of information in the poultry market, the consumers are susceptible to changes (Gray Kilman, 2016). Figure 1 In case of short run, competitive market there will be super normal profit earned by the firm. The profit maximizing condition is MR=MC. The profit is the shaded portion. References Gray, S. (2016).McDonald's Menu UpgradeBoosts Meal Prices and Results.WSJ. Retrieved 22 January 2016, from https://www.wsj.com/articles/SB114022907202077745 Gray, S., Kilman, S. (2016).Glut of Poultry Saves Shoppers Chicken Feed.Glut of Poultry Saves Shoppers Chicken Feed. Retrieved 22 January 2016, from https://www.wsj.com/articles/SB114842929129661266

Case Study The Lego Group Working With Strategy

Main Feature of Organization, Strategic Products and Current Mission The Lego Group is a toy-manufacturing company which is based in Billund, Denmark. The company was founded as a family organization in the year 1932, by Ole Kirk Christian. Today, the company stands high as a global player in the world of toys, among other strategic entertainment products (LeGoff 557).Advertising We will write a custom case study sample on Case Study: The Lego Group Working With Strategy specifically for you for only $16.05 $11/page Learn More Initially, Lego started as a manufacturer of ironing boards, toys, stepladders, and stools. Among these products, the wooden toys have been the best selling items, thus according the firm a strong reputation in the entertainment business. By the year 1949, the firm started manufacturing early versions of the popular LEGO plastic bricks and this was a strategic approach by the organisation, considering the fact that plastics had jus t greeted the markets as a new material (Simoes and Dibb 219). However, the outcome was not what the company managers had anticipated, since the public was a bit hesitant in accepting the new material. The company would rapidly gain popularly in most parts of the world, as a result of progressive development of its products. For instance, the basic bricks were sustained with extra figures and features, in a manner that diversified the playing opportunities for children. The company’s sales and profit scales were rapidly taking a positive charge between 1950 and 1970. However, the period between 1970 and 1990 proved to be a difficult moment for the company, owing to the serious economical implications that greeted the world then, following the oil crisis of the time. In the course of this era and the period that followed afterwards, the Lego Group underwent serious fluctuations, due to a number of reasons which included; rapid change in the business environment witnessed at th e time, complications in logistic matters and financial control, and the extended times that would be required to run into the future plans of the company. Among the many problems which threatened to shake the firm’s potential, was the issue of the rising competition from much bigger companies such as Hasbro and Mattel (Hicks 41). Other new firms such as Sony, Activision, and Nintendo, who had just ventured the scene with more advanced electronic products, also posed great challenge to the productivity of the Group. In this regard, the company’s only survival option in the competitive market was to adopt a strategic development plan that would see it come up with new and more exciting products. According to Claus, Riggs Sekeran, the toy company enjoys a wide range of products that are fit for children of all ages (71).Advertising Looking for case study on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Thes e products are grouped in various categories, and some of the latest developments include video gaming, pre-school products, play themes, bricks, licensed products, and educational-based products for children, just to mention but a few. This is a clear indication of how the company has managed to remain high in the current competitive business of toy products. The Lego Group was actively been involved in several turnaround attempts for the better part of 1990s and in the early 2000s, but with little success. No one could have foretold a possible solution to the progressive issues which appeared to claim the company, until towards the end of the year 2004, when a glimpse of hope shone onto the firm. It was in the course of this period when the company’s serving CEO, Kjeld, took on more involvement in strategies that helped to identify the factors responsible for the company’s downsizing. This helped in the design of effective strategies that would eventually see the fir m come back on track. The design and implementation of these strategies was based on the company’s organization, management and business expectation plans. This involved the replacement of over three quarters of the senior management team with a new batch. Other strategies would be centered on the firm’s operational systems, among other key interventions. For instance, a thorough revision was carried out on the cost and the supply chain operations of the company, and major changes were inflicted on the sectors right away. More importantly, the Lego Group had realized that working alone would not take them anywhere, and this would see them cooperate with licensing partners in the widely acclaimed gaming sector. These interventions were sustained with a progressive development of the company’s products, to fit the demands of the modern era. The company has shown steady advancements lately, as a result of these interventions. The climax of this success was realized in the 2008-2009 financial year, which saw the company registering the biggest rate of growth in sales and profits, since the year 1981. With these positive outcomes, there can’t be any doubts that the Lego Group is now back to its place in the development of children’s creativity, after several years of financial loss and failure (Irani, Sharif Love 59). The objective of the company is to develop innovative products to meet the expansive consumer requirements, as they occur in the market.Advertising We will write a custom case study sample on Case Study: The Lego Group Working With Strategy specifically for you for only $16.05 $11/page Learn More As part of their recovery strength, the Group has reclaimed its position in the global listings, where it is ranked among the top five toy companies, with an approximate value of 4.8 percent in market shares. Lego’s success can also be associated with their mission, which aims at inspiri ng the current generation of children to be able to explore and challenge their own potential in creativity (Stacey 79). This has been achieved through the group’s brand values, which are tailored on aspects meant to bring a significant impact on children. Some of these aspects would include things such as quality, imagination, fun, creativity, caring, and learning. Internal and External Environments of the Lego Group Lego group is a good example of the international companies that have managed to balance the nature and constraints of the internal and external environments, to make a notable difference in the current competitive world of business. From the perspective of various reports about the company, it is apparent how the toy company has reacted in adapting and utilizing the potential offered by its internal resources, in meeting the demands of its external environment. According to Dyllick, Thomas Hockerts, the company’s current strategic development has been a chieved through the focused leadership of its former CEO, Kjeld Kirk (139). A better part of this success however, has been reached upon through the feedback which had been received regarding the internal competencies of the firm and its external operating systems. Internal Environment – SWOT Value Change of the Company A major tool that can be used to assess the overall potential of a firm is the SWOT analysis structure, which stands for Strengths, Weaknesses, Opportunities, and Threats. A SWOT analysis basically considers two main parts; a company’s inward elements which normally constitutes of its strengths and weaknesses, and the attempts to consider the way these factors would come to fit against the external aspects of an organisation’s threats and opportunities. Strengths The company’s key strengths are commonly associated with its constant ability to apply the concept of brand recognition in all its products and services, without having to comprom ise their core values. The company also maintains a close mutual relationship with its suppliers and retailers, and this gives it a powerful business advantage over its rivals in the industry. The toy market is an industry bulging with a big number of competent players, but Lego’s products and services are the most preferred by majority of the people in the world (Oliver and Roos 911). This is due to their effective leadership in the development of a wide range of children products that have been praised for quality and originality. The newest products by the company are real manifestation of how the power of innovation applies, in meeting their goals and objectives in business.Advertising Looking for case study on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Brand heritage is another strength which has succeeded at keeping the company ahead of its rivals in the industry (Hatch and Schultz 597). This is evident in how the company’s products are manufactured to fit in their brand values, which are aimed at making a significant impact on the lives of children all over the world. Weaknesses Lego’s weaknesses in business can be observed through a number of ways. For instance, even though there have been serious attempts by the company to diversify its products, the company has been poor in technology and IT related matters compared to other competitors, who have fully embraced the power of technology in making their products more enticing to the users in the new media age (Schau 43). Lego Group has also been operating through large toy retailers, and this has been one of their biggest drawbacks in the market. The large retailers are effective marketing outlets, but they normally operate on high costs and this is likely to depri ve the company of substantial amounts of money in profits. More importantly, the company has failed to understand the marketing concepts which are in line with their consumers all over the world. In other words, Lego group seems to be lacking full understanding of their consumer preferences in the market, and due to this lack of a strategic fit, they have often ended up losing more sales to their competitors in the market, who are well informed of the consumer needs regarding toys and gaming products. It is also apparent that, Lego Group lacks the ability to effectively translate potential strengths into implemented strategies. This actually explains the company’s gradual response to financial and management issues, among other problems which have affected the company previously (Hà ¶lzl 39). Opportunities Threats The company’s notable opportunities and threats can be linked together as key aspects which the company can utilize in achieving its goals and mission in t he toy business. According to Schultz and Hatch, while the company has been widely acclaimed all over the world for its production of toys and other children products, there has been a decline in the sales of its traditional toys which constitutes the largest part of their products, due to the increasing attention of children on devices from other companies, that are more electronic (21). The other biggest threat of the group is the growing number of giant competitors, who are utilizing every opportunity possible to thrive in the industry, thus making it one of the most competitive sectors in the world (Johnson 11). However, Lego Group has always seen these threats as opportunities for further developments in business. New developments and increase on products has always remained the biggest opportunity to the company. More importantly, as a result of the rapid competition in the market, the company has managed to come up with numerous categories of products, a key strategy which ha s enabled it to be able to meet the needs of children in the modern era of technology. External Environment – PESTEL, Porter Five Forces Porter’s five forces analysis is observed to have a significant impact on a business, in relation to elements of the external environment (Michael 13). These forces include level of rivalry, power of suppliers, threat of entrants, power of buyers, and threat of substitutes. Each of these five forces is considered individually in assessing and analysing the external environment of the company in this case. Level of rivalry The level of rivalry is quite intense and strong for the Lego Group. While it is clear that the company enjoys a strong position in the industry, with relatively few giant competitors, it should be considered that they are taking part in a broader market of toy production, which also includes key players in the electronic sector, such as Sony and Nintendo, among others (Martin 84). Power of suppliers The company, who se main products are largely based on standardised inputs, has an average power of suppliers. However, it should be noted that, the power of suppliers is likely to go up, in case the company decides to major in more sophisticated areas of productions, such as games or films. Power of buyers The power of buyers is relatively high for the Lego Group, with minimal costs between alternative products. Threat of entrants As it would be expected, the toy product industry normally requires huge investments of time and money, in a number of ways that include things such as business capital, research funds, and development costs. All these serve as obstacles to entry in the industry, thus restricting the number of new entrants in the sector. In that case, there is a relatively low threat of new entrants in the wider entertainment market, and this offers the Lego Group a much stronger bargaining power over majority of its competitors in the market. Threat of substitutes This is arguably one of the biggest threats facing the entertainment product company today. Even though the company is said to have developed electronic products such as video and games, there is still evidence that some of the company’s products are still made in the traditional form. This has the meaning that, the company is faced by a big threat, given that users are likely to substitute between traditional toy and gaming products through to the ones that are made into electronic features. Power Interest Matrix of the Lego Group It is also apparent that the Lego group has touched many people with its products and services in the entertainment sector. Through the engagement of the right people in its management and productivity systems, the company has made a big success in its mission and objectives in business (Beal 29). As it would be observed in the above internal and external analyses, the company has tried to implement a number of strategies, in order to influence and attract people on thei r products. Through these interventions, the company has successfully managed to impact a large number of people from all over the world, with both electronic and alternative traditional products for children entertainment. Among other key players in the market, the company has a high interest on its stakeholders and the community. The firm recognises these as the people who play the greatest role in helping them achieve their business goal and for that reason it treats them with much respect. Both the shareholders and the people from the diverse community have a positive impact to the company’s financial interest and what motivates them most is to get nothing less of the best from the company. In that respect, the Lego group is fully engaged in putting the necessary efforts which are needed to satisfy these significant groups. New Strategic Directions for the Organization The Lego group is arguably one of the most successful companies in the toy manufacturing industry. Throu gh a wise interaction of its internal and external systems, sustained by the effective management, the company has gained a sustainable competitive advantage over many of its rivals in the market. However, there are numerous strategic directions which the product company can utilize, to be able to maintain a more sustainable competitive advantage over its rivals. The Lego Group may have amassed great reputation and success in the entertainment sector, but changing the company into an all-time winner in the global toy market is something that would require much effort, from the company (Schroeder 54). Some of these efforts would tend to involve numerous aspects of strategic management, whose significance in business has often been underestimated. Some of the strategic directions which the company can incorporate in its operation systems would include; a focus on international opportunities, expansion of digital systems and strategies, constant focus on cost, expansion of target marke ts, widening of product range, and focus on effective online distribution strategies. The Lego Group may have made significant attempts in trying to incorporate some of these strategies in their routine business operations, but there is still room for improvement which can be achieved by revising these strategies over and over, to eliminate all the problems which continue to pose a big challenge to the company’s productivity and accountability in children’s toy and entertainment products (Morgan 45). For instance, the company should focus on the many opportunities provided by the international community and try to utilize them effectively. A good way of achieving this goal is by ensuring that the toy products are manufactured and distributed in all regions of the world, where they are needed most by families, as a key engagement for their little ones. It should also be considered that, things are changing with the times nowadays and in that respect, expansion of digita l systems and strategies is very crucial for the development of the company to fit in the demands of the modern era, which is defined by technology (Cooper 75). To be able to comply fully with this call of modernity, the company should try to ensure that all their products are made into electronic features, to fit the growing demands of technology (Laudon and Traver 18). It is also necessary for the company to make a constant focus on cost matters, to ensure that there is a two-sided benefit between the producer and the consumers. More importantly, there is also the need for the Lego Group to conduct extensive research on new developments to widen its product range. Through a corporate level strategy aimed at increasing international coverage and product diversity, the company would be certain to realize more sales and profits out of its toy products. The company should also consider the vast potential business opportunities that are offered by the upcoming trend of e-commerce, and try to utilise these online mediums as effective distribution channels for their wide range of products. Apart from these strategies, the Lego Group should also try to make good use of other strategic tools in today’s dynamic business world, such as important business information that would provide them with good lessons on how to achieve and uphold a sustainable competitive advantage in business affairs. All these strategies, sustained with the magical touch of an effective organizational management style are likely to bear promising results in the future operations of the company. Works Cited Beal, Reginald. Competitive Advantage: Sustainable or Temporary in Today’s Dynamic  Environment? Tallahassee, Florida: School of Business and Industry, 2001. Print. Cooper, Robert. â€Å"New products: the factors that drive success.† International Marketing  Review 11. 1 (1994): 60-76. Print. Claus Brian, Riggs Neil Sekeran Hari. Development of a low cost instruction al  platform for submersible design: Electrical and Computer Engineering. New York: IEEE, 2009. Print. Dyllick, Thomas Hockerts Kai. â€Å"Beyond the business case for corporate sustainability.† Business Strategy and the Environment 11 (2002): 130-141. Print. Hatch, Mary and Schultz, Majken. â€Å"Toward a theory of brand co-creation with implications for brand governance.† Journal of Brand Management 17. 8 (2010): 590-604. Print. Hicks, Mark. â€Å"Collaborate to innovate?: getting fresh small company thinking into big company innovation.† Interactions 17. 3 (2010): 39-43. Print. Hà ¶lzl, Werner. The evolutionary theory of the firm:Routines, complexity and change. Vienna: Vienna University of Economics and Business Administration, 2005. Print. Irani Zahir, Sharif Amir Love Peter. â€Å"Transforming failure into success through organisational learning: an analysis of a manufacturing information system.†Ã‚  European Journal of Information Systems 10. 1 (2001): 55-66. Print. Johnson, Whittington. Exploring Strategy. Harlow: Pearsons Education, 2011. Print. Laudon, Kenneth and Traver, Caroh. E-Commerce Business, Technology, Society. Boston: Adison Wesley, 2008. Print. LeGoff, Daniel. â€Å"Use of LEGO as a therapeutic medium for improving social competence.† Journal of Autism and Developmental Disorders 34. 5 (2004): 557-571. Print. Martin, Fred. Circuits to control: Learning engineering by designing LEGO robots. Cambridge: Massachusetts Institute of Technology, 1994. Print. Michael, Porter. Commerce Strategy. Boston: Freepress, 2004. Print. Morgan, Gareth. Images of Organisations. London: Sage Publications, 2006. Print. Oliver, David and Roos, Johan. â€Å"Decision-making in high-velocity environments: The importance of guiding principles.† Organization Studies 26. 6 (2005): 889-913. Print. Schau, Hope. â€Å"How brand community practices create value.† Journal of Marketing 73. 5 (2009): 30-51. Print. Schroed er, Jonathan. Brand culture. United Kingdom: Taylor Francis Publishers, 2006. Print. Schultz, Majken and Hatch, Mary. â€Å"A cultural perspective on corporate branding.† Brand  culture 13. 5 (2006): 17-26. Print. Simoes, Claudia and Dibb Sally. â€Å"Rethinking the brand concept: new brand orientation.† Corporate Communications: An International Journal 6. 4 (2001): 217-224. Print. Stacey, Ralph. Strategic Management and Organisational Dynamics. London: Pitman Publishing, 1993. Print. This case study on Case Study: The Lego Group Working With Strategy was written and submitted by user Skyler Miles to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.

Compare and contrast carters presentation of lady Atalanta and daisy duck Essays

Compare and contrast carters presentation of lady Atalanta and daisy duck   Essays Compare and contrast carters presentation of lady Atalanta and daisy duck   Essay Compare and contrast carters presentation of lady Atalanta and daisy duck   Essay Essay Topic: The Wild Duck A close analysis of Carters characters of Lady Atalanta and Delia Delaney in wise children will present several similarities and differences between the two. Both women were wives of Melchior hazard, but they vary greatly in terms of personality.The outcome of their personalities is backed up by carter with an insight into their family backgrounds, financial status, and early lives, presented through the character of Dora Chance in a series of anecdotes.Carter presents Delia Delaney as a somewhat extreme character, in contrast to the character of Lady Atalanta, although the idea that she does have morals is also conveyed throughout the novel at certain points, for example her reluctance to tell Genghis khan that the baby she is carrying is his although it is actually Melchiors. Delia was born in the Bronx, New York on what Dora refers to as the wrong side of the tracks. Unlike Lady Atalanta, Delias career escalated resulting in her becoming wealthy, maintainin g this wealth towards the later stages of her life. Her start in life was vastly different to what the glamorous exterior of the classic thirties blonde might indicate.She came from a family of several brothers and sisters, and her father was a fish peddler who was caught in a cross fire resulting in his death. Her family were poor, as Dora reveals she didnt have a pot to piss in. In the early stages of her life, she became a child star, referred to as little dolly daydream. Carter uses imagery to create a picture of Delia in the readers mind. She gives physical descriptions, commenting on her naturally nasal tone and the fact that she was one inch less than five foot, with a perfectly enormous head. The physical description of her is different to that of Lady Atalanta who is described as the most beautiful woman. Carter conveys Delia as quite a crude character, through her dialogue, and the way that Dora describes her to have danced on tables, and fancied older men. Her dialogue is also crude, as the first line of her dialogue in the novel is where does the orgy begin. .She was also willing to sleep with people in order to help her career, as she left lipstick on every pair of underpants further up the hierarchy.The theme of promiscuity is very prominent in the novel, presented through several of the characters including Dora and Nora; this presents the question of whether Delias provocative manner has influenced the twins into having sexual relations with a number of different partners, this idea is reinforced by the fact that her marriage with Melchior is extremely short lived and lasts only a few days before ending in divorce. Delias dialogue throughout the novel reflects the extremity and wildness of her character. She is conveyed as quite juvenile in that she has a lack of class, and self control. When receiving the phone call from Genghis Khans ex wife, she furiously ends the call throwing the phone and shouting DROP DEAD. Dora and Nora seem to approve of her despite her unladylike and somewhat irritating characteristics, although perhaps for trivial reasons. Dora liked the fact that Delia would lend her and Nora dresses, and always wanted to party. As well as the negative aspects of her personalities, Carter also conveys the idea that she is an extremely talented individual, showcasing this by the fact that she receives a role in the Hollywood film The dream.Lady Atalanta is a very different character to Delia Delaney. She is conveyed as a very respectable, controlled character. Born into a family of aristocracy, Lady A is a lady in her own right, although she later descends from wealth to poverty. At the beginning of the novel we see that she ends up living in the basement of Dora and Noras house, confined to a wheelchair because of an accident. This presents the question Dora asks herself, did she fall, or was she pushed? indicating that the accident could have been the fault of her daughters, Saskia and Imogen. A very resonant attribute of Lady As personality is her self control.All the way through the novel she retains the manner of a lady and has a consistently genteel fashion. Her life appears to be quite monotonous due to her condition. It is clear that she is still in love with Melchior after several years, as watching him on television makes her perk right up. She also has a large portrait of him hanging in her Sussex home. She doesnt have a great deal of dialogue throughout the novel, although towards the end she gives a dramatic speech about how Melchior has left her womb empty because his concentration became solely on his career rather than on family life. Dora says she got it all off her chest in one go, however astonishingly, as the outburst she has is rather poignant, she still maintains her calm, ladylike manner. Carter presents a deterioration of her career, as well as in her physical appearance. Not only does she end up in poverty, she also is confined to a wheelchair and growing old has had quite an effect on her, and taken the life out of her. She was described as the most beautiful woman of her time. in her early life.Carter uses language extremely skilfully to create both characters. She does this through physical appearance, use of dialogue, and opinions of other characters. She creates Lady Atalanta as a cultured, Ladylike, woman of gentility. She elaborates the physical characteristics of Lady A by creating a family background for her. Her well mannered personality reflects her aristocratic family, and her upper class childhood, also resulting in her very significant self control. She also conveys the idea that her childhood has had only good effects on her. Dora says there is not a scrap of harm in her- plus we owe her one from way back indicating that she is a kind woman, who causes no harm to others. She is also voluntarily a mother figure for Dora and Nora, even though they are not at all blood related. Carter creates sympathy for her in a number of diffe rent ways.The fact that shes been confined to a wheelchair, the fact that she is so in love with Melchior and can only be close to him by watching him on television, and also the idea that her own children dont respect her, as Saskia and imogen forced her to sign away her residence, leaving her poor in Brixton with Dora and Nora. Her dialogue is also extremely significant in creating her character. The way she speaks in a controlled ladylike manner contributes to her continually emotionless personality. Delia Delaneys character contrasts to that of Lady A, but is still created very skilfully through Carters use of language. Carter creates Delia as a woman of common vulgarity and unladylike characteristics, but also a woman of talent. The description of her physical appearance is extremely important in elaborating her character. Her talent is reflected through this. Dora reminisces on the fact that her face went from one side of the screen to the other indicating her celebrity status , and just how popular she was at the time of her fame. Her dialogue is also very significant in contributing to her crude persona. She had heart shaped pubic hair. Carter skilfully focuses on very minor details to convey the idea that although she wasnt a very attractive woman, she took pride in her appearance.Both women are similar in terms of career. They were both actresses although Lady A was Shakespearean and Delia was a Hollywood actress. They also both had relationships with Melchior and Peregrine, but both only married Melchior. They are vastly different in terms of early life, they came from contrasting financial situations and families, Lady A went from wealth to poverty, the opposite to Delia, also Lady A gained wealth from talent, as opposed to Delia who gained wealth from Melchior, and sexual relations with those in the fame industry.Carter skilfully creates differences between the two characters through dialogue, and the way Dora describes them. An extremely simplisti c and subtle, yet significant difference between them is their names. Lady Atalanta reflects someone from an aristocratic background, and the almost fictional name of Daisy duck reflects a Hollywood starlet, although the fact she changes her name to Delia Delaney does convey that she grows slightly more sensible with age. Carter successfully creates a range of similarities and differences between both characters, inventing two opposing characters that become increasingly interesting to the reader through her vivid descriptions and language.

IP Law Essay Example | Topics and Well Written Essays - 1500 words

IP Law - Essay Example Firm managers carry out valuation of their patents when they are deciding whether or not to file a patent application or refurbish a patent, when computing royalties for patent licensing contracts, when calculating the value of a potential merger or acquisition, and when calculating their own corporate value. Lawyers and judges value patents in suits of patent infringement; financial institutions calculate the value of patents when they use the intangible asset as collateral for bank loans; and investors and financial analysts value patents to evaluate the cost of firms as a foundation for their investment decisions and recommendations (Hall, 1992; Martin and Drews, 2005). IP in the form of patentable technology, legally protectable trademarks and designs, copyright and others have progressively become the most crucial assets, not only for many of the worlds largest companies, but also for small and medium enterprises (Schweihs, 2002). Intellectual property (IP) is a term which refers to a number of discrete kinds of legal monopolies over conceptions of the mind, which can be either artistic or commercial. IP also includes the related areas of law (Raysman et all, 2008). A variety of intangible assets are given certain special rights under the IP law. The most common kinds of intellectual property include trademarks, copyrights, industrial design rights, patents, and trade enigmas in some jurisdictions. According to Sherman and Bently (1999), â€Å"The British Statute of Anne 1710 and the Statute of Monopolies 1623 are now seen as the origin of copyright and patent law respectively.† Originality is one of the most important terms which are related to copyright. Presently the term ‘originality’ is used by law as a touchstone in evaluating when and why something can be copyrighted. England’s conventional criterion for originality was a Lockeanderived industriousness criterion, according to which the work must spring up from the author at

The History Of My Family Essay Example | Topics and Well Written Essays - 1250 words

The History Of My Family - Essay Example Moving to the new land was, however, not a bed of roses. It meant that they had to go where it was occupied. During those times, the legal system was still unknown. Therefore, when it came to land ownership, my ancestors had to fight. If they win, then they take over the ownership of the land. When my ancestors, therefore, migrated, they went to a place, which was occupied by a different race. On realizing my ancestors’ arrival, the natives were not at ease. They thought that my ancestors were going to take over their resources. Therefore, they discriminated and prejudiced them, hoping that they will feel unwelcomed and would eventually leave. However, my ancestors were strong and courageous. The discrimination that was seen when it came to watering the livestock was not something to scare my ancestors. Though the natives would go and try to prevent other people, especially of other races from getting access to the watering points, my ancestors still found their way to the wat ering points, especially because they were strong and daring. Grazing grounds were the other places where discrimination was evident. However, owed to the determination of my ancestors to feed their livestock, they made their way through the opposition. Due to the kind of livelihood, which was seen during the times of my ancestors, my foster father told me that the use of ethnic or racial slurs was something normal among my ancestors. The livelihood of those times called for a lot of competition for limited resources.... However, my ancestors were strong and courageous. The discrimination that was seen when it came to watering the livestock was not something to scare my ancestors. Though the natives would go and try to prevent other people, especially of other races from getting access to the watering points, my ancestors still found their way to the watering points, especially because they were strong and daring. Grazing grounds were the other places where discrimination was evident. However, owed to the determination of my ancestors to feed their livestock, they made their way through the opposition. Due to the kind of livelihood, which was seen during the times of my ancestors, my foster father told me that the use of ethnic or racial slurs was something normal among my ancestors. The livelihood of those times called for a lot of competition for limited resources. Therefore, often, the neighboring races constantly did many things that in one way or the other, offended my ancestors. Among these thi ngs were refusing my ancestors to cross their territories, being jealous of my ancestors’ possessions, and bewitching their animals. Therefore, my ancestors were always honest. They always said the truth, and therefore, when they found the races being associated with any evil thing, they addressed them in the same evil thing. For the mean races, they called them. On the other hand, when they found some races bewitching their livestock out of jealousy, they referred to them as bewitchers. They did this so that their children would know how to be careful with these people. The use of slurs generally was a means of cautioning the next generation, so that when it came to such issues as marriage or other associations, they would be careful with such

Personal Development: Strategic Manager

Personal Development: Strategic Manager Introduction The concept of personal development covers a wider field than self-development or self-help. Personal development also includes developing others. This may be a function within the role of teacher or mentor, a personal competency (such as a managers ability to develop the potential of employees), or as a professional service (such as providing training, assessment or coaching). Strategic development in many organizations is viewed as a process for determining where an organization is going over the next year or more -typically 3 to 5 years, although some extend their vision to 20 years. In order to determine where it is going, the organization needs to know exactly where it stands, then determine where it wants to go and how it will get there. The resulting document is called the strategic plan. It is also true that strategic planning may be a tool for effectively plotting the direction of a company; however, strategic planning itself cannot foretell exactly how the market will evolve and what issues will surface in the coming days in order to plan your organizational strategy. Therefore, strategic innovation and tinkering with the strategic plan have to be a cornerstone strategy for an organization to survive the turbulent business climate. This assignment covers the personal development plan as a manager in TESCO organization. The study focuses on the personal development as a strategic manager. Here several issues such as identification of personal skills, ability to manage personal leadership development, evaluation of effectiveness of leadership development program and the ability to develop healthy and safe environment are studied. 1. Identification of Personal Skills Personal development plays an important role in propelling the company towards its strategic direction. This development is not only required during the implementation stage but also in the formulation stage. Strategic direction of the organisation Strategic direction is an organizations process of defining its strategy, or planning, and making decisions on allocating its resources to pursue this strategy, including its capital and people. Various business analysis techniques can be used in strategic planning, including SWOT analysis (Strengths, Weaknesses, Opportunities, and Threats ) and PEST analysis(Political, Economic, Social, and Technological analysis) or STEER analysis (Socio-cultural, Technological, Economic, Ecological, and Regulatory factors) and EPISTEL (Environment, Political, Informatics, Social, Technological, Economic and Legal) Strategic planning is the formal consideration of an organizations future course. All strategic planning deals with at least one of three key questions; What do we do? For whom do we do it? How do we excel? In many organizations, this is viewed as a process for determining where an organization is going over the next year or more -typically 3 to 5 years, although some extend their vision to 20 years. In order to determine where it is going, the organization needs to know exactly where it stands, then determine where it wants to go and how it will get there. The resulting document is called the strategic plan. It is also true that strategic planning may be a tool for effectively plotting the direction of a company; however, strategic planning itself cannot foretell exactly how the market will evolve and what issues will surface in the coming days in order to plan your organizational strategy. Therefore, strategic innovation and tinkering with the strategic plan have to be a cornerstone strategy for an organization to survive the turbulent business climate. Organizations sometimes set the direction by summarizing goals and objectives into a mission statement and/or a vision statement: A Mission statement tells you the fundamental purpose of the organization. It concentrates on the present. It defines the customer and the critical processes. It informs you of the desired level of performance. A Vision statement outlines what the organization wants to be. It concentrates on the future. It is a source of inspiration. It provides clear decision-making criteria. Strategic skills required of the leader to achieve the strategic ambitions The leaders possessed certain degree of management skills inculcated during their years of experience in business. But leadership is beyond just management skills. The leaders prepare organizations for change and help them cope as they struggle through it. While management is about coping with complexity, leadership is coping with change While Managing comprises planning, budgeting, organizing, staffing, controlling and problem solving, Leadership comprises setting a direction, developing a vision of the future and aligning motivating and inspiring people (Kotter. 2001) Strategic skill is the ability to make excellent strategic decisions, and implement them effectively is one of the most significant leadership skills. Here are five strategic skills we can use to stretch and strengthen our organisation. The following diagram defines the strategic skills required of the leader to achieve the strategic ambitions; 1. Use scenario planning First, identify the variables that create the highest risks and opportunities for your company. Then imagine the extremes positive and negative that could happen for each of these critical variables. Next, push your imagination further. Envision much more positive and much more negative circumstances than originally came to mind for each critical variable. Now, having stretched your sense of what might happen by envisioning extreme alternatives, choose a few scenarios that you think are most likely to happen. Then, choose the most likely scenario. You may find it valuable to gather data to help you hone and verify your instincts about your choice. Finally, consider what actions you would take for the scenario you think is most likely. Also consider actions youd need to take if some of the other also-likely scenarios happened, rather than the one on which youre placing your bets. 2. Design for the solution after this one The strategy you choose now, and the actions you take, as a result, will affect the future. That could prevent or solve future problems, and it could also create other problems. To minimize the negative impacts of the strategy you choose, imagine when your company may need to choose its next strategic direction, whether in 5, 10 or more years. Envision your strategic choices now fitting into the choices that must be made then. See if that perspective changes the strategic choices you planned to make now. 3. Learn and practice games of strategy This idea doesnt need a lot of elaboration. Learn and practice leads to experience of the managers. This alternatively helps in improving the personal skills of manager. 4. Learn from the masters Choose a few people who are or were legendary for their strategic abilities, whether in your field or another one. Read about them, watch documentaries and learn from other resources about their work, thought process and achievements. What did they do that enabled them to be so successful and strategic in the way they worked? Find ways to apply what you learned to your own work and strategic challenges. 5. Create the time and space so you can think strategically A big part of strategic success is carving out the time and space so your strategic skills can be tapped. You must get away from the day-to-day to be able to fully see the big picture, to anticipate issues well before they become problems, and to recognize great opportunities and how you can make the most of them. Create the time and space regularly so that strategy and strategic skills can emerge, be implemented, and improve, as needed, as you move ahead. Relationship between existing, required and future skills to achieve the strategic ambitions The owners had the operational skills to certain extent. But the required skills were more of leadership. If the vision is set, the skills required for meeting the vision are the future skills to achieve strategic ambitions. While management is about coping with complexity, leadership is coping with change. The important skill in leadership is setting the direction through the inductive process of gathering broad range of data and looking for patterns, relationships and linkages. This direction setting will result in vision and strategies. The leaders should ensure alignment of the team with vision through communication. Alignment will lead to empowerment and goal congruence. Good leaders should coach, provide feedback and role models. They should recognize and reward success. Leadership hinges on strong networks of informal relationships. They should create a culture of leadership by recruitment of people with potential and managing their career patterns (Kotter, 2001). According to Daniel Goleman emotional intelligence would be the most important ingredient for a leader. When the he calculated the ratio of technical skills, IQ and emotional intelligence as ingredients of excellent performance, emotional intelligence proved to be twice as important as the others for jobs at all levels. This had direct link to performance. His research further showed that emotional intelligence played an increasingly important role at the highest levels of the company. There was also a close link between companys success and the emotional intelligence of its leaders. Therefore, the company in order to prosper in future should focus on developing emotional intelligence amongst top echelons in the company. Personal leadership development to support achievement of strategic ambitions The organizations are supplied with opportunities to support leadership development. The opportunities can be categorized into hardships, challenging assignments, learning from others and other events. Leadership lessons are obtained most during hardships and challenging assignments. Leadership development refers to any activity that enhances the quality of leadership within an individual or organization. Anybody can become a member of management if they know the right people and say the right things at the right time. But not everybody can be a leader. A manager or boss is somebody with a certain organizational title that heads or oversees a select group of employees. A leader, on the other hand, is somebody with that same title who commands and receives respect from the employees he or she oversees. What is that difference and how can you make that transition from manager to leader? The opportunities to support leadership development There are many different sources of information and advice to help the managers to improve the leadership and management skills in the organization of TESCO. The most appropriate will depend on the managers individual needs. Following opportunities and supports are available to managers for the personal development plan. These are; Train to Gain: Leadership and Management Advisory Service This innovative Leadership and Management programme will help to equip the managers with the skills to become a more effective leader. A leadership and management broker will help managers to diagnose their skills needs and those of their management team and put together individual development plans. They will offer bespoke guidance on how to consolidate existing skills and improve in areas that will fast track personal development and ultimately boost the performance and competitiveness of their business. LEAD LEAD is a 10 month leadership programme designed specifically for owner-managers of businesses with less than 20 employees. It has a proven track record in delivering business growth for its delegates 90% of businesses that have attended LEAD over the last 4 years have reported a significant increase in sales turnover as a result of attending the programme. The programme works by taking a very practical approach to both the development of the business and to the personal development of the owner-manager. LEAD tackles practical issues that owner-managers are facing in running their business rather than focusing on theoretical concepts and as a result has a direct impact on the growth of delegates businesses. High Growth Coaching Programme The High Growth programme is a three year business coaching initiative aimed at high growth businesses and entrepreneurs. It will support budding entrepreneurs with ideas that can achieve a turnover of  £500,000 within three years, and established small and medium sized enterprises with ambition and capacity to expand by at least 20 per cent a year. The Mentoring Programme Mentoring for Northwest Businesses offers business owners, leaders and managers the chance to develop and fully realise their potential through a long term mentoring relationship. Networking This is another important type of skill development for business owners and directors. A wide variety of business networks exists including those for new businesses, young owners and women owners. These allow employees to learn from people running similar businesses and facing similar obstacles. Professional bodies All the following professional bodies offer leadership and management development courses and opportunities: Chartered Management Institute (CMI) is the only chartered professional body that is dedicated to management and leadership. It is committed to raising the performance of businesses of all sizes by championing management. The Chartered Institute of Personnel and Development (CIPD) is the professional body for those involved in the management and development of people. Construction of personal development plan to direct leadership development The Personal Development Plan would focus on two facets of leadership development. The first is the managerial aspect and the other is the leadership aspect. Though the traditional management model includes leadership under management, many management gurus have propounded theories which focus on leadership. The area of managing comprises Planning, Organizing, Leading and Controlling. These activities will enable the person to manage complexities. The most important aspect is that of leadership, which would demand tremendous amount of emotional intelligence. The managing encompasses the appreciation of process, seeks stability and control and instinctively tries to resolve problems far too quickly. Leadership, in contrast emphasizes on tolerance to chaos and lack of structure and willingness to delay closure in order to understand the issues more fully. Leadership inevitably requires using power to influence the thoughts and actions of other people. In terms of personality, manager i s a problem solver with emphasis on rationality and control. Leadership is a practical effort to direct affairs and to fulfill his or her task. In terms of attitude towards goals, Managers tend to adopt impersonal, if not passive, attitudes. In sharp contrast, the leaders are proactive in shaping the ideas instead of responding to them. They adopt a personal and active attitude towards goals. Implementation process for the development plan The implementation process would have a mechanism. This mechanism will not only lay down the program but also will ensure the employee to go through it. In the first phase, the candidate will go through the concepts of planning, organizing, leading and controlling. The development plan in the area of planning would cover the process of identifying and selecting appropriate organizational goals and courses of action. The development in the area of organizing would cover creation of a structure of working relationships that allow organizational members to interact and cooperate to achieve organizational goals. Leading would involve articulating a clear organizational vision for its members to accomplish, and energize and enable employees so that everyone understands the part they play in achieving organizational goals. Controlling is the task of managers is to evaluate how well an organization has achieved its goals and to take any corrective actions needed to maintain or improve performance. The outcome of the control process is the ability to measure performance accurately and regulate organizational efficiency and effectiveness. The development plan would then focus on enhancing the emotional intelligence of the candidate. The components of emotional intelligence are; Self Awareness, Self Regulation, Motivation, Empathy and Social Skill. While all other skills are not normally appreciated, social skills gets recognition as a key skill for a leader. Emotional skills can be learnt through well structured training. The effectiveness of the leadership development plan Assessment of the achievement of outcomes of the plan against original objectives The original objectives were to develop the skill to plan, organize, lead and control. Further it was to enhance each component of the emotional intelligence. The outcomes were quantified in terms of the number of people exposed to the training period. These development programs would result in tangible improvement in performance parameters with a lag. Therefore outcomes were categorized into two categories; the outcomes and performance drivers. The performance drivers would result in outcomes. Assessment of only the outcomes will not help in ensuring the implementation. Since outcomes have already happened, there is no way to alter them. On the other hand monitoring of performance drivers would give valuable insights that would help in formulating mid-course corrections. Every year the number of man-hours of development in terms of each of the areas of development, which are Planning, Organizing, Leading and controlling is targeted. Similarly the number of people trained in emotional intelligence in areas of Self Awareness, Self Regulation, Motivation, Empathy and Social Skill is recorded. Tests were conducted periodically to assess the progress. A 360 degree assessment by people from different functional areas is done continually and plotted to see the growth. Statistical methods are used to assess the spread and standard deviation among the candidates. The development program would be thought to be extended, if the candidate does not show improvement. The impact of the achievement of objectives on strategic ambitions The strategic ambitions are framed in the form of a vision statement. The statement of vision was The Company will be a global conglomerate with dominance in the chosen field of endeavor. In this context, the objectives of the company were: To be a market leader in each business pursued To be an ideal employer with attrition below 10% To be profitable company with margin on sales exceeding 15% To conform to ethical practices of business To ensure maximum return to shareholders with return on equity exceeding 15% To ensure the growth of business of over 20% per annum To ensure succession plan for every leadership position in the company To be proactive on environmental issues. The development of managerial skills and leadership skills are crucial for the fulfillment of objectives. Unless leaders were developed in each functional area, it would be impossible to achieve the objectives. By focusing on the implementation of objectives through proper strategies and also monitoring through a suitable mechanism, we can move fast towards the vision of the stakeholders. Review and update leadership development plan Research on the most admired companies reports that top organizations take aggressive, innovative approaches to improve leadership at all levels by focusing on the following: Disciplined leadership assessments and selection Intensive leadership development programs that address individual needs and the organizations strategic goals Values that emphasize the importance of people as well as financial results Leadership models that include such attributes as self confidence and self control, achievement orientation, empathy, and teamwork components of emotional intelligence The career paths and leadership is shown in the following diagram. The leadership development plan would be reviewed at every stage in the career path culminating in leadership. Periodic reviews take place every quarter. While technical competencies are inculcated till the middle management levels, the training in styles of leadership is provided as inputs after the middle managerial levels. The reviews would focus on the extent of technical competencies absorbed by the employee up to a certain stage. Later the emotional quotient of the individual is assessed to make sure whether the person is ready to don the leadership role. The emotional quotient is measured to see the improvement over a quarter. If no improvement is found, the curriculum of training is modified to make it more effective. Here the assessment of the candidate by people from different functional areas at various levels is considered to arrive at a measure of leadership capability. Promoting Healthy and Safe environment that supports a culture of quality Impact of Corporate and Individual health and safety responsibilities on the organization Corporate and Individual health and Safety is one of the most important ingredients of an organization. This is not an event but a process. It is being inculcated that safety is not just the corporate responsibility, but the responsibility of everyone in the organization. The promotion of this aspect demands substantial cooperation between employers and employees in initiating, developing and carrying out measures to enhance the health and safety of employees at work. All these form a part of the Corporate and Individual health and safety policy in the company. In order to ensure an accident free environment in the company, a mechanism needs to be instituted. This mechanism should monitor the safety practices within the company. The parameters that would be monitored are; number of accidents, absences due to injury and insurance premium. The routines would be developed to control hazards which would be in consonance with regulations and standards. An objective should be the promotion of co-operation between employers and employees in initiating, developing and carrying out measures to ensure the health and safety at work of employees. The accidents could be due to unsafe acts, omissions or unsafe conditions. The company should monitor with data on accidents, diseases, near misses and the trends. Analysis of this data would enable risk assessment and also redesign or reengineering of processes to make them safer Ways to promote healthy and safe environment in the work place At the outset, it is necessary to draw the attention of the employees to the importance of health and safety to the individual and the organization. Suitable posters and regular mails are necessary to keep alive the spirit of health and safety in the organization. There is a need to have a manual on safe and healthy practices integrated into System of operations. It is necessary to convene regular meetings to impress upon the employees and also to monitor the success of action plans to promote safety and health. A proper organizational setup for safety and health depending upon the size of the organization is a must. It must be headed by a safety officer. He may or may not have an elaborate setup. The top managements commitment should be communicated strongly with the CEO occasionally attending the safety meetings. The existing employees should be constantly reminded about the importance of health and safety. The new entrants to the company should be imparted training in safety and h ealth as a part of the induction program. Estimation of organization culture of quality on the achievement of strategic ambitions: There are four types of cultural orientations which represent different values about motivation, leadership and strategic orientation in organizations. But normally an organization reflects a combination of the four cultural orientations. These four cultural orientations do not exclude each other and the relative emphasis placed by the organization on the orientations varies. The group culture focuses on flexibility and internal integration. Organizations Emphasizing a group culture tend to value belongingness, trust and participation. The strategies used in these organizations concentrate on the development of human relations and member commitment. The leaders encourage teamwork, empowerment and concerns for employee ideas. The developmental culture emphasizes flexibility and external orientation. Organizations with emphasis on this cultural orientation tend to focus on growth, resource acquisition, creativity, and adaptation to the external environment. The strategies used to manage business include innovation, resource acquisition, and the development of new market. Leadership styles in such organizations are entrepreneur and innovator-type. The rational culture is focused on the external environment and control. Organizations with emphasis on a rational culture encourage competition and the successful achievement of well-defined goals. The strategies are oriented toward efficient planning and control of production to achieve competitive advantages and high productivity. The leaders tend to be directive, goal-oriented, and functional. The hierarchical culture emphasizes stability and internal integration. It stresses centralization and regulations. The strategies emphasize clear rules, close control, and routinization. The leaders are conservative and cautious. (Xingxing Zu et al, 2006) But in the company under study, the prevalent culture was hierarchical. In various studies by different researchers, it was found that group culture and development culture, two cultural orientations which emphasize flexibility and people in their underlying values, are commonly believed to be the ideal cultural orientations for implementing quality management programs. Conclusion Every organization has a vision or picture of what it desires for its future, whether foggy or crystal clear. The current mission of the organization or the purpose for its existence is also understood in general terms. The organization under study began as an apparel exporter and later diversified into various unrelated areas. These areas did not provide synergy to the existing businesses. Due to recession, all the businesses ran into losses. The leaders in the organization were found to be lacking strategic skills to meet the strategic ambitions. A leadership development program was launched with emphasis on twin areas of management and leadership. While Managing comprises planning, budgeting, organizing, staffing, controlling and problem solving, Leadership comprises setting a direction, developing a vision of the future and aligning motivating and inspiring people. The development plan would also focus on enhancing the emotional intelligence of the candidate. The components of emotional intelligence are; Self Awareness, Self Regulation, Motivation, Empathy and Social Skill. While all other skills are not normally appreciated, social skills gets recognition as a key skill for a leader. Emotional skills can be learnt through well structured training. The organizations are replete with opportunities to support leadership development. The opportunities can be categorized into hardships, challenging assignments, learning from others and other events. In the midst of opportunities a personal development plan was formulated so also an implementation plans. This was also reviewed and updated. The evaluation was also done about the impact of corporate and individual health and safety and also on the support received by quality.