Loi (Letter of Intent)

A letter of intent or LOI is a document outlining an agreement between two or more parties before the agreement is finalized. The concept is similar to the so-called heads of agreement. Such agreements may be Asset Purchase Agreements, Share Purchase Agreements, Joint-Venture Agreements and overall all Agreements which aim at closing a financially large deal. LOIs resemble written contracts, but are usually not binding on the parties in their entirety. Many LOIs, however, contain provisions that are binding, such as non-disclosure agreements, a covenant to negotiate in good faith, or a â€Å"stand-still† or â€Å"no-shop† provision promising exclusive rights to negotiate. An LOI may also be interpreted as binding the parties if it too closely resembles a formal contract. The purposes of an LOI may be treated as: to clarify the key points of a complex transaction for the convenience of the parties * to declare officially that the parties are currently negotiating, as in a merger or joint venture proposal * to provide safeguards in case a deal collapses during negotiation An LOI may also be referred to as a memorandum of understanding (MOU), term sheet or discussion sheet. The different terms reflect different styles, but do not indicate any difference under law. A contract, in contrast, is a legal document governed by contrac t law. There is however a specific difference between an LOI and MOU, whereby an LOI is the intent from one party to another and does not in this case have to be signed by both parties, whereas an MOU is an agreement between two or more parties, which should be signed by all parties to be valid. [edit] Specific examples See also: National Letter of Intent * Education. In the United States, Letters of Intent are frequently reached between high school senior athletes and colleges and universities, which then reserve athletic scholarships for the athletes upon graduation. Academia. In academic settings Letters of Intent are part of the application process. There they are also known as Statement of purpose or Application Essay. * Solicitation. A letter of intent (LOI) is highly encouraged but it is not required or binding, and does not enter into the review of a subsequent application. The information that it contains allows government staff to estimate the potential workload and plan the revie w. LOI, letter of intent, Grant Solicitation, retrieved 2008-05-21 * Disability. The LOI for a child is a document written by the parents or guardians that describes the child's or adult child's history, current status, and location of all other documents. In the event of the death of the disabled child's parents or guardians, courts rely upon the family's LOI for guidance in understanding the family's wishes. * Schools. School Administrators, particularly at high schools, need a Letter of Intent to approve the formation of a club. * Real Estate. In cases where the real property in question is not listed on the MLS or listed with a Realtor, there may not be an easy way to notify the owner of the property and other interested parties of intent to purchase. Often it is necessary to officially begin the process of a purchase and allow all peripheral interested parties to begin any other processes (such as a multi-million dollar loan for a commercial property may require a letter of intent before a financial institution will allow personnel to spend time working on said loan) necessary for the completion of the sale.

Legal and Financial Aspects Influencing a Start Up Business Essay

Legal and financial aspects will affect the start-up of a business in many ways. These can aid the start-up of a business, or they can make the business struggle. Financial aspects that will make your affect the start-up of your business negatively would be things like an increase in costs for things such as expenses e.g Electricity, resources for product, wages. If you have just started your business, and you are already losing money, there is not really any point in continuing the business. If you can’t cover your expenses you will not make any profit, so you will need to pay attention to the Break Even Point, to see if with the combined cost of expenses and costs, and the amount of money you are making from sales, that you are actually making profit, not making a profit, or you are just losing money. Someone starting up a business will need to plan a budget, this is essential if you don’t want to get into a worst case scenario and not have any idea what to do in that situation, to create a budget you should pay attention the current economic status, then how much your fixed and variable costs will cost. Someone starting up a business should also make a reserve of money so that if the economy makes a turn for the worse, they will be able to fund the losses and keep the business going. Legal aspects of a start-up business are needed to be known by the person starting up the business, if you do not know these you will lots of trouble understanding the legal requirements and responsibilities of managing and running a business. Legal aspects that would affect the start-up of a business would be things like licences; you may need a minimum of a business licence and tax registration to start up a business, but it depends on what sector you are operating in. To start up a business you need to categorise yourself into one of these ownerships, a sole proprietorship (A business owned and managed by a single person), a partnership (A business owned by two or more people) or a corporation (A business owned by a large varied group of people), then you register that information to the Inland Revenue, providing this information early also lets them receive money back. When you start up a business it is essential to remember to charge clients and employees VAT (Value Added Tax), the profit from the VAT is then sent to the Inland Revenue. Privately owned companies need to pay Corporation tax which again goes to the Inland Revenue. When you are starting a business and hiring employees, Health and  Safety Responsibilities should be remembered, since you need to make sure that your employees are working in a safe environment, you will need to carry out a risk assessment to identify the risks for employees, customers etc.

The effectiveness of fiscal policy between the Neo-Keynesian and the Essay

The effectiveness of fiscal policy between the Neo-Keynesian and the Monetarist framework - Essay Example Fiscal policies affect the demand and supply patterns in an economy, if the government imposes heavy taxes on various commodities the consequences are that prices will increase and demand will be low. If such a trend continues, supply will reduce and eventually the company will quit the market if not shift its concern to another line of production and this will result to retrenchment processes and low-income rates to the losers (workers). At the long run, the government will observe a lower G.D.P (gross domestic product) and reduced income per capita (Dwivedi 17). If a government engages in operations that will see it maintain expenditures at a desired level, it will have practiced fiscal policies. The practice is effective through adjustments in taxes, interest rates and the spending styles of the government itself (Musgrave, Frank, & Elia 80). Through the practices, the government either helps the final consumer, but whether this happens as anticipated is dependent on the shifts th at the government employs either to vary rates on increased or decreased edge. The policies show relevance to those of the monetarists. Neo Keynesian theory stipulates that the factors to a progressive economy revolve around demand. The factors are demand itself, produced output and the rate of employment. The theory argues that an economy enjoys stability when the factors are exercised but not to the maximum exploitation of its output. The rate of employment in a country increases income per capita. This stimulates demand since buyers are able to decide and make purchases promptly at their will. Increase in demand will lead to increase in price or supply accordingly. The simultaneous changes in demand and supply factors will result to inflation if the prices increase considerably (Satora and Richard 67). At this point, government intervention becomes a point, and therefore measures must put in place to create harmony among the factors, this is referred to as fiscal policies. In mos t cases, the government will borrow money from the economy by issuing premiums, it may also issue decrees to the lending facilities on a stab to minimize the amount of money in supply, and it may impose taxes and duties over the produce. The practices as well will reduce spending patterns leading to reduced production. Eventually jobs will be lost resulting to economic recession. Monetarists argue that whenever a country revamps money into the economy, chances are that growth is in the short-term, and the ultimate result will be the pressure of inflation. They state that a slight change in government policies will affect the market either positively or negatively and reflect at the short and long runs. It is during inflation that the entire consumer group will cut down on spending since prices are high. The country will face unemployment problem since suppliers will be quitting the markets. Entirely, the country will not pose an attracting site to the investors due to adverse curren cy fluctuations. Understanding that subsequent currency fluctuations will result to devaluation, the country finds itself in a rather bitter position as its currency will affect exportation of goods. Therefore, it will have set an economic sanction to itself

HND Business Law Essay Example | Topics and Well Written Essays - 3500 words

HND Business Law - Essay Example ement is entered into, regardless of the manner in which it is executed, all parties agree to abide by the terms and conditions spelled out in said agreement. Only if all parties agree to be released from a particular clause in the contract, or an agreement is reached to null and void the entire contract, it remains in force. If violated, one party will likely have a claim against the other in a court of law. This brief section covers all three of these different types of contracts. When considering verbal agreements and contracts, it is important to remember that they are legally binding as a written contract in many situations. The key today, however, is proving the terms and conditions in question when a disagreement arises in a modern business situation. Under UK law, it has been largely determined that there are two main areas that constitute an actual binding agreement between two or more parties. The first involves whether or not an agreement was actually clearly reached as to the services that were to be performed, or goods provided. The second involves remuneration. If a figure was reached and agreed upon, it would be considered binding. Interestingly enough a verbal agreement today can be reached via either an in-person or on telephone voice exchange, or via email. Verbal contracts are more difficult to prove in a court of law. If one party states that the other party did not meet the conditions or warranties stipulated in the agreement, then problems can arise. If these are written out in a formal and written agreement, the issue is often quickly resolved. If, however, the agreement was verbal in nature, it can quickly become a ‘he said, she said’ affair that makes it difficult to prove one way or other in court. As such, it is recommended that the terms and conditions be clearly spelled out in a contract. Written agreements, quite simply, are similar to verbal agreements, except that they have a verifiable signature on them from all

Assignment taxation law Example | Topics and Well Written Essays - 500 words

Taxation law - Assignment Example Applying taxation law in the case of Concrete and Transport Ltd, analysis of the implications of the company decision on its activities is necessary. In deciding on whether to carry out repairs, the company needs to consider taxation on the materials required for carrying out the work. In the second option of building new production plant, more capital is necessary to cater for direct taxation, that is, to cater for new premises, and taxation on the materials needed in the construction (Jonathan & Bowen, 2008). Taxation law differs with operations in business. According to Erdős (2011), for a company to venture into railway transport services, it must be a corporation. For corporations, there is double taxation on all the profits including money for company expenses such as expansion. The management of corporations is a different lawful body and not the owners. Therefore, expanding the railway line means increased taxation to the company. In mechanization, taxation law differs with countries. In developed countries, for example, there is no over taxation. In developing countries, there is over taxation of the equipment used to encourage the creation of more job opportunities (Jonathan & Bowen, 2008). According to Schanz (2011), taxes have a significant factor in decision-making. This is because investment decisions are prone to distortion by taxation. In any business, the owners of the business they do undergo taxation or sail through without taxation. Therefore, it is necessary for the Concrete and Transport management to do analysis of their proposed company expansion to determine the after tax returns on the capital expected in the new idea. Expanded business does not guarantee increased returns due to taxes levied. As the business grows, there is a high chance of increased taxes, and in some cases, double taxation occurs, for example, in corporations (Schanz, 2011). Tax research is

Management Essay Example | Topics and Well Written Essays - 3000 words - 3

Management - Essay Example authorize their employees; also, the results are reliable with the possibility perspective in that the achievement of leader-influence approaches depends on the association among manager and employee. Leaders are anticipated to influence their employees to be vigorous and skillful in the quest of organizational objectives. Leadership researchers have focused on identifying the strategies that managers can use to persuade, convince, and control subordinates successfully. Although research in leadership influence has important implications, there has been a lack of progress in the development of consistent knowledge linking influence strategies with employee compliance and effective work (Davis & Luthans, 1994, 237). A less recognized fact is that the nature of the manager-employee relationship can affect the success of influence attempts. This study was an examination of how the cooperative or competitive relationship between managers and employees affects the kind of influence used and its effectiveness. The findings of recent studies suggest that the attitudes of employees toward their manager affect his or her influence attempts (Graen & Schiemann, 1997, 210). How employees believe their goals are related to their manager may affect their receptiveness to influence. According to Deutsch (2000, Press), influence and interaction more generally can be examined in terms of perceived goal interdependence. In cooperation, people believe their goals are positively linked so that as one moves toward goal attainment, others move toward reaching their goals; they can be successful together. In competition, people believe that their goals are negatively related so that ones success interferes with others. With independent goals, people consider their interests unrelated so that ones goal attainment neither helps nor hinders others goal attainment. In past hypotheses, goal interdependence was thought to affect trust and openness. In cooperation, people expect mutual

State Involvement in Higher Education Essay Example | Topics and Well Written Essays - 3000 words

State Involvement in Higher Education - Essay Example In this paper arguments against and in favour of state involvement would be thoroughly analyzed. Appropriate theoretical frameworks like market failure, public expenditure and government failure will be included in the first section of the essay in order to support argumentative discussion. The theories on public finance management would be able to highlight the importance of governmental intervention in higher education. Public expenditure in educational system of various countries shall also be included within this particular study. Empirical data from different countries such as Europe, Asian countries and United States will also be encompassed in the essay. As the essay declares UK government to certain extent is actively involved in enhancing higher educational system of the country. The level of performance and importance of UK government will be analyzed with the support of public finance management theories. These ideas would be associated with government failure and market failure concepts. A higher educational system can only perform appropriately when it is supplied with essential resources. These resources are either provided by private sector or by government. Educational system being totally dependent on market, results into a risky scenario in future years. The future trends along with present scenario of state level educational expenditure management shall be evaluated in this study.

Informatics and Framus Computers Case Study Example | Topics and Well Written Essays - 750 words

Informatics and Framus Computers - Case Study Example In order for this situation to be arrested, an external intervention is necessary. Â  The structures of the two companies do not align with the overall goals of the businesses. In order for such businesses to work together as a single unit, the businesses need to remove structural hurdles through ensuring that both structures support the shared operations (Mills 2007). In this case, the two businesses do not have clear structures. For instance, Informatics is more formal, bureaucratic, and hierarchical compared to Framus. This affects the flow of information between the two firms. Â  The strategies by the two businesses are not based on the competitive advantage of both firms. On the contrary, the two firms are almost competing with each other. This is affecting the relationship between the two firms which depends on each other for existence. Â  The systems of the two companies have not been laid properly in order to enhance coordination. As a result, there is no trust among the two organizations, an aspect that is affecting the overall quality of computer components being delivered to Informatics. Â  The staff and their style of work are different. Both sides blame each other for the challenges facing the organizations. For instance, the top-level managers of Framus feel that the other companies that use their products do not raise similar complaints that are raised by Informatics. However, on the other hand, Informatics Company’s management feel that the other firm is not doing enough to address the quality issues that have been raised by the business. The push and pull are affecting the overall performances of the businesses. Â  In order for both businesses to work together effectively, they need to have similar organizational structure. This would make it easier for the top-level managers to communicate easily with the rest of the subordinates (Mills 2007).

Both Spirited Away and Pan(TM)s Labyrinth Essay Example for Free

Both Spirited Away and Pan(TM)s Labyrinth Essay Both Spirited Away and Pans Labyrinth represent the traditional family unit as an important part of a childs life. How do the two films convey these messages to the audience? Hayao Miyazakis Spirited Away (2001, Japan) and Guillermo Del Toros Pans Labyrinth (2006, Spain) are both feature length films which delve into the journey of a young female character experiencing their own personal journeys to achieve different goals. This is achieved by the aid of supporting characters who take on the roles of those in a traditional family. This may include a mother, father, siblings and others. The traditional family unit in Spirited Away is absolutely essential to the development of the piece. Chihiro, the main protagonist, throughout the film is on a journey to maturity. At the start, she is represented as a very naà ¯Ã‚ ¿Ã‚ ½ve and insignificant person. For example, towards the start of the film we see a low-angle shot from behind Chihiro, looking up at the bathhouse. Just this camera shot already suggests to the audience that the director is portraying her in a stereotypically childlike light; she is wandering into the unknown with a complete lack of self-awareness. In contrast, towards the end of the film, we see Chihiro reach a new level of maturity. If we look at how she reacts to her parents driving her away from her home, friends, and everything that she had become accustomed to; she complains about it, and generally acts childish in her actions, for example when we see her father point out her new school, at which point she sneers and pokes her tongue out at it t hrough the car window. We can compare this directly to when Chihiro journeys, by train, to return a gold seal to Zeniba. The decision to go was completely self-motivated, brought about solely by her own feelings of responsibility. This in itself conveys messages of maturity. Although we have almost exactly the same situation as at the start of the film in the car (she is travelling to an alien destination), this time she has an awareness of where she is going, and has chosen to take the journey herself. This path of maturity becomes an imperative aspect to acknowledge when looking at the supporting characters and their significance. During the film, her parents are taken away from Chihiro, and she is left alone. However, this triggers a traditional family unit to form around her. From my observations, these surrogate family members include Lin, taking on the big sister role, Yubaba, taking the role of a grandmother and Kamaji assuming the father/grandfather/uncle figure. The character of Haku whose relationship with Chihiro is possibly one of the most significant, is also the most debatable and perhaps the hardest to define as part of a family unit. Looking at the character of Lin, her influence on Chihiros development is more than apparent. From the moment that Chihiro becomes employed in the bathhouse, her contact with Lin is very much of a sisterly nature; they share the same daily routine, eat together, sleep together,live together. Being the younger of the two, she would naturally default to mimicking her in everything she does, exactly as a stereotypical older/younger sister relationship would operate, especially concerning their work in the bathhouse. We see this when Chihiro notices how Lin uses the bath tags in a certain manor to receive water from the boiler, and then later when she takes on the task of cleaning the stink spirit, she remembers this and makes use of it several times in order to finish the job at hand. This shows advancement in Chihiros independence and ability to adapt to the situation given in the workplace, and these skills are learned directly from Lin. Again, this is undeniable evidence suggesting t he importance of a sister figures contribution to the traditional family unit. In the absence of her real mother, Yubaba as the only mature female character in the piece, becomes the obvious choice of surrogate mother/grandmother for Chihiro. The first introduction of Yubaba as a mother/grandmother figure is her naming/re-naming of Chihiro to Sen, like a mother christening her child. The importance of this act is that giving Chihiro a new name in this workplace, which only an adult experiences, is a disciplinary act, giving her a completely different identity, almost forcing Chihiro to become someone else. As in every traditional family, if children are spoilt, they never mature, but if they are disciplined along the way by their mother, they learn respect, appreciation and other such skills. This is another vital step for Chihiro to take on her path to growing up, induced entirely by Yubaba. However we also have the part of Zeniba, who takes on a similar role to Yubaba but in a more affectionate and understanding way. In a stereotypical parental unit there wil l always be the affectionate side and the disciplinary side in order to ensure a childs good upbringing. Kamajii, the boiler man, is conveyed to us as the audience in such a way that we immediately recognise him as very experienced, kindly and possibly wise. Although he is a rather removed character in the film, only appearing infrequently, he is only ever welcoming in nature, helping Chihiro at any obstacle that should arise, but at the same time diligently carrying out his work. We see this when he is grinding all sorts of different herbs and spices on his pedestal, but voluntarily he pretends that Chihiro is his granddaughter and requests that Lin takes her to see Yubaba for work. All of these are the traits of a father, however, due to his absence in the film as a whole, he is more like a grandfather, and actually refers to Chihiro as his granddaughter near the beginning of the film. We see this when Chihiro is desperately trying to find a way to get to Zenibas place, and Kamajii offers her his only train ticket there. Again, although a seemingly small contribution, everybody needs a bit of stability and support, much like Chihiro did here, and this is exactly what Kamajiis fatherly character offers. Haku, being one of the first characters which Chihiro meets within the film, immediately becomes important to her; a lost child in real life would latch on to the nearest compassionate figure, and when Haku finds Chihiro, this is precisely what happens. More than that; however, particularly in such unfamiliar surroundings, this boy being the first person that she meets and him even rescuing her from death, forms a unique relationship between the two, which lasts throughout the film. It is because of this that Chihiro possibly cares about him more than any other character in the film, and certainly, Haku cares for her more than any other character. We see this several times, for example when Chihiro notices Haku, as a dragon, flying into a window of the bath house, in a bloody state. Chihiro is desperate to try and help Haku, and chases him up to Yubabas room to do this. The significance of this, is that due to these romantic or otherwise feelings, Chihiro was shown by Haku how to care for someone at the start of the film, and in the example given, she mirrors Haku in this, giving direct evidence to suggest that Haku, interpreted as a family figure or not, is still a massive influence in Chihiros personal development. So the ideology of this film seems to, certainly, be that a strong family unit is absolutely vital for the development of a child. In Pans Labyrinth, our central character is the young Ofelia, and we are straight away shown a typical parent-child situation with her mother Carmen in the backseat of a car; Carmen is telling Ofelia that she is too old for books and fairy tales. We can suggest that probably the most prominent development in Ofelias character, throughout the film, is how she becomes notably more courageous, in a rebellious manner. This is not necessarily to say that Ofelia doesnt demonstrate courage and self-determination towards the beginning of the film, for example, she independently wanders off into the labyrinth to find Pan the faun quite early on the piece. However, if we particularly observe her actions towards the Captain, her step-father, as the piece progresses, Ofelia, without doubt, feels more confident to rebel against him with more audacity, and greater consequence. For example, Ofelia seemingly unintentionally offers the Captain her left hand at the start of the film, a comparatively m inor act of disrespect, but nearing the end, she even has enough daring to go so far as to steal her baby brother from his room. There is plenty of evidence to suggest that the main heroine in the film develops due to supporting characters taking on family orientated roles, much in the same way as in Spirited Away. What does differ though is that Ofelia actually has her real mother for the majority of the piece although her presence fades throughout the film, she is still present. This distinction is vital to acknowledge as a mother figure, for a young girl, will probably the most influential person in the shaping of their own character. Her mother aside, our traditional family unit members include Mercedes, as a big sister/mother role and Pan, as the only possible fatherly figure the piece. Much like in Spirited Away, where Yubaba is instantly recognised as an evident adult figure, due to her being introduced in the workplace and her business-like nature, we can also instantly identify Carmen as an adult because she is portrayed as a mother above all else in the film, being in her pregnant state. In terms of Carmens impact on Ofelia, the main citation to be made is how Carmen shows devotion to her children, which Ofelia learns, and employs later in the film. For example, we see how Carmen marries a man, who she debatably doesnt even love, in order to bring a safe environment to her children, showing a great deal of affection to her children. Even though all logic would lead Ofelia to care very little about her brother, (he is the cause of her mothers death and Captain Vidals son) she ends up giving her life for him at the end of the film, almost mirroring her mothers actions, proving to the audience that Ofelia has gained skills from her mother, conveying messages of massive importance upon the part of a motherly figure in a traditional family unit, relating directly back to the question. The character of Mercedes is without question, the most appropriate person to take on a sisterly role for Ofelia. We can quite easily make the connotation that, due to Mercedes and Ofelias almost identical circumstances (they are both at the mercy of the captain), Mercedes can simply be described as an older version of Ofelia. Furthermore, both of these characters close relations come to harm at the hands of the captain. We see this when the captain instructs the doctor that, if the baby can be saved, then Carmens welfare is negligible. Also Mercedes comrade, one of the Guerrilla rebels, is eventually tortured by the captain and killed. Ofelia in fact looks to Mercedes as more of a role model after her mother dies, and possibly identifies her as a secondary/replacement mother figure. Much like in Spirited Away, Ofelias loss of parentage leaves her with no choice but to latch on to the nearest affectionate character, here being Mercedes. So overall, Mercedes greatest contribution to Ofelias development is that of displaying courage, particularly in rebelling against Captain Vidal, which Ofelia learns from and mimics, much like a younger sister would do. We see this quite clearly when Mercedes seeks out Ofelia and tries to escape with her near the end of the film. After Carmens death, Mercedes is Ofelias new role model, Ofelia goes on to steal the baby from the captain, a courageous, and rebellious, skill learnt directly from Mercedes, the evident sister figure in the piece. Pan, the faun, is a very interesting character in terms of analysis. It is he who actually opens up this supernatural world to Ofelia, which is what makes him interesting, because he could be interpreted as a character which does not develop Ofelia, but actually completely the opposite, simply due to the fact that he widens this supernatural world, which Ofelia creates through her childlike imagination. This can be seen by the way that he sets out a task for Ofelia in order to become Princess Moanna of the underworld, and stay a child forever. Conversely, Pan, being a seemingly authoritative figure in this strange world, actually makes rules within this world i.e. he tells Ofelia that these various tasks must be completed in a certain fashion e.g. he instructs her not to touch the fruit in the second task. Be this imaginary or not, this makes him become an embodiment of discipline for Ofelia, taking on the role of a replacement father. This is very similar again, to Yubabas role in S pirited Away. Laying out rules for Ofelia in each of the tasks that he sets her, forces her to independently mature and stick to the rules, very unlike the actions of a child, clearly benefiting her. Because nobody seems to step in and take the role of Ofelias father, it is rather convenient that it is Pan who induces Ofelia to rebel against the Captain, steal the baby, and for the final goal to re-unite Ofelia with her real father. This is so significant in the sense that, this is very likely exactly what a stereotypical father would do if one were still present. Relating back to the question, if we remember that the only missing member of Ofelias family unit is a father, Pan could well be Ofelias attempt at completing this broken family unit through her imagination. If we then look at what this suggests about the ideology of Pans Labyrinth, it seems to me that it could suggest the same as Spirited Away but also, when taken out of the comfort zone of a strong family unit, it can actually force a child to mature in a greater way than with one. Through close analysis of both films, it has become clear that children crave the stability that the traditional family unit provides. They also thrive in it. Both central female characters in each film, undoubtedly piece together some kind of family in whatever way they can, in the absence of their actual family members. However it has also become apparent that people around characters who lack stability, are without question, drawn to filling those roles. When looking at the evidence given for each character explored in the two products, it would be a huge understatement to say that each member of the traditional family unit doesnt have a massive impact on the central protagonist. The two films convey the messages of family importance in such a way that without the supporting family characters whose roles are taken on within each piece, the actions and development of both Ofelia and Chihiro in their respective films would both be completely different without the presence of these characters.

Arguments for and against using Utilitarian principles Essay Example for Free

Arguments for and against using Utilitarian principles Essay Utilitarianism is an ethical theory that proclaims that the morally right course of action in any given situation is the one that produces the greatest amount of pleasure over pain for everyone affected (Ferrell, Fraedrich Ferrell 2008). This is evident in business decision making processes done by analysts, legislators and managers, for instance on deciding to invest resources in public project, to minimize cost by using foreign labors and such. Thus, the argument on whether utilitarian principles should be applied in workplace practices is highly debated as it carries both pros and cons. First and foremost, utilitarianism in an organizational context â€Å"provides a clear and straightforward basis (Shaw, Barry Sansbury 2009, p67)† for developing and testing guidelines and protocols. Pain and pleasure is graded in a scale of continuum to measure intensity of the emotion (Burns 2005). As such, organizations can utilize this to derive objective decisions, as the approach uses quantitative result oriented method, and calculates cost and benefit of the consequences of all possible alternatives. For instance, a departmental manager ordered to cut cost in his department may revise all employees’ salary in the interest of obtaining higher utility for all parties rather than lay off some staff. Secondly, utilitarianism enables an unbiased approach of decision making, thus a way to resolve conflicts involving self-interest (Mill, 1863). This approach requires the decision maker to take the standpoint of an impartial third party and give equal weightage to everyone’s interest. As such, the outcome of the decision will not be influenced by self interest and chances of negative implication to all individual are minimized. This is advantages, as incidents such as Bhopal Disaster that killed 20000, as a result of poor maintenance to minimize cost for the shareholders, could be evaded. Moreover, utilitarianism is a comprehensive and flexible method as it looks at the end results of actions and takes into consideration the complexity of the circumstances (Burns 2005, p46). All ramifications, regardless whether they are direct, indirect, long term or short term, are taken into account especially in situations that may have long term environmental and health implication. Thus using utilitarianism, organizations can reach â€Å"realistic and workable moral decisions (Shaw, Barry Sansbury 2009, p67)†. Nonetheless, there are criticisms against the utilitarianism approach as it is difficult to determine and account for all foreseeable benefit and harm of every possible alternative (De George 2013, p48). This is because we cannot know the full implication of all actions in the long term, nor can we accurately estimate the pain and pleasure of future consequences resulting from these actions. For example, a drug that was released into market after thorough research and careful consideration of benefit over harm, could have undiscovered lethal side effect that could manifest many years later. However, due to limited technological advancement when the research was conducted, this potential harm and its intensity may not be identified accurately during initial cost and benefit analysis. Furthermore, utilitarianism is a teleological theory that looks at the end result itself rather than action. As such, it isn’t concerned with how the utility is achieved and even morally reprehensible actions such as theft and murder could be considered ethically right as long it produces more utility (Shaw, Barry Sansbury 2009, p68)†.Moreover, the theory, though theoretically plausible, is not applicable in real life situations in which individuals are required to make decision within minutes and could not possibly consider all alternatives and their implications. In conclusion, utilitarianism though highly applicable to workplace, should be practiced with caution as it also has weaknesses like any other theory. As such, the individuals in decision making position, should be aware of potential biases and shortcomings of practicing utilitarianism and attempt to diminish the negative implications. Reference List Burns,J 2005, â€Å"Happiness and Utility: Jeremy Bentham’s Equation† Utilitarianism Resources. P46,accessed 27/08/2013, http://www.utilitarianism.com. De George, R 2013, Business Ethics, Pearson/Prentice Publication, New Jersey. Ferrell,O , Fraedrich, J Ferrell,L 2008, Business Ethics : Ethical Decision Making and Cases ,South- Western Publication, Mason. Mill, J 1863, Utiilitarianism , Utilitarianism Resources. Accessed 27/08/2013, http://www.utilitarianism.com/mill2.html. Shaw,w, Barry,V Sansbury,G 2009 Moral Issues in Business, Cengage Learning Australia, South Melbourne.

The Social Glue Through Organisational Culture Commerce Essay

The Social Glue Through Organisational Culture Commerce Essay Organizational Culture is defined as the social glue holding the company together. Social scientists call it culture or the underlying set of informal norms and values that govern employee behaviour. But regardless of the name, more and more evidence suggest that it is important, often critically so (Baker, 1980) pg51. Culture consists of three layers values, beliefs and taken for granted assumptions. Many authors still argue over the meaning of organizational culture, authors like (Sirmon Lane, Jul. 2004, p. 310) consider culture to be set beforehand and it dictates the attitudes and behaviours for the organizations members to exhibit, while some authors like Edward schein explain culture as a common insight held by the organizations members; a system of shared meaning and naturally if authors have different opinions on the definition then they will also argue whether culture can be managed, manipulated or cannot be consciously changed. This essay is targeted to understand culture and culture change better. Culture and Change Culture can be both weak and strong; It is usually decided by the top management and sets the tone of the entire organization. A weak culture can be of a young company or if the turnover of key personnel is high. (Baker, 1980, p. 51) . A strong culture can be seen in efficient organizations with positive employee behaviour, with minimal information transmitted in any transaction and the working pattern has a flow, a good culture can also be measured (Deal and Kennedy (1982: 15) cited by (Banish Nawaz, 2003). I feel culture can change the face of an organization, from world leaders to mere survivors. As stated by (Schein, Feburary 1983, p. 14) Culture serves the function of stabilizing the external and internal environment for an organization, it must be taught to new members. If its not carried forward, the new ideas from new members will produce a culture change. To consider a change in culture, if possible, its not as simple as it sounds. Louis V. Gerstner (2002) the CEO for IBM states in (Banish Nawaz, 2003, p. 22) you cant simply give a couple of speeches or write a credo for the company and declare that the new culture has taken hold; you have to create the conditions for transformation, provide incentives and define marketplace realities and goals. In the end management doesnt change culture; management invites the workforce itself to change the culture. The three subdivisions discussed in Managing Organizational Culture by (Ogbonna Harris, 1998) are: (i) Studies which argue that culture can be managed. (ii) Research which claims that culture may be manipulated. Â  (iii) Theory which argues that culture cannot be consciously changed (although natural change is argued to occur frequently). All three seem to be valid and vary from organization to organization. If an Organization has a stable environment then the present culture is perfect, but external conditions can bring the organization to its knees and force it to change its culture. McKinseys well known 7-s framework places culture (mentioned as shared values) into a happy atom mentioned by Peter and Waterman (1982) cited in (Banish Nawaz, 2003) pg 11, this model assumes that effectiveness of the culture of the organization: depends on 2 factors. 1st How strong the culture is, and 2nd how well culture is aligned with the other organs of the body (so called strategy-culture fit) Sub-division Present and Compare The 1st subdivision explains how theorists believe that culture is an organizational variable and can be managed. This article by (Harris Ogbonna, Vol. 27 No. 2,1998, p. 119)researched with retail organizations to understand culture better, the findings were Cultural deviation was considered unwelcome whereas cultural change was viewed as transformational rather than incremental. Managers viewed culture of the organization as a variable which could be managed, and these assumptions allowed the managers to relate organizational culture to organizational effectiveness. (Baker, 1980, p. 54) has provided some evidence that Culture can be managed, He starts the article by saying that manageable culture has a major contribution to a companys success for instance, International Business Machines (IBM) has been successful to actively cultivate and manage culture; he/she also states that the culture is largely responsible for its success for the past 30 years IBM real issue is discussed later in the essay, many other organizations tried to manage culture, (change strategy or business environment) and failed. Some culture clash problems range from diversification (ATT) to acquisition failures (Kennecott), but these are rarely fatal. The author belief in managing culture is supported by the statement that CEO and/or other top managers seem to recognize intuitively what culture they want and need; they create and maintain it by monitoring the existing culture and actively intervening where possible to reduce the gap between the desired and existing cultures. All this has been confirmed by (Schein, Feburary 1983) below, He states managing culture is possible when an understanding for dynamic evolutionary forces which govern how culture grows and changes is achieved. Author (Schein, Feburary 1983) cites (Van Maanen Schein, 1979) writing the passing on of the groups culture is strategically an important process to study If one wants to decipher what the culture is and how it might change He believes that Culture can be managed and as stated earlier, it should be taught to the new employees in order to avoid any cultural change. (Schein, Feburary 1983) states that managing culture till the end is not about controlling its members perceptions, thoughts and feelings but as the process of learning to manage the external and internal environment progresses the culture will get older which would influence our perceptions, thoughts, and feelings, but this all seemed valid until (Schumann Prestwood, 1994) below gave their argument. This article by (Schumann Prestwood, 1994, p. 1) is a brilliant piece of work supporting the argument that culture may be manipulated and explaining how its done . It states that an organizations culture is the ultimate governor of the amount and type of innovation that will take place. The organization therefore must have a way to link its culture to its market. Innovation and change go hand in hand. To compare managing culture and manipulating culture, author (Schumann Prestwood, 1994, p. 3) citing (T. J. Watson, Jr. observed in A Business and Its Beliefs) gives an idea for what happened to organizations that tried to manage culture stating, Out of the top 25 industrial corporations in the United States in 1900, only 2 remain in the selected company today, One retains its original identity; the other is a merger of seven corporations on that final list. Two of those 25 failed. Three others merged and dropped behind. The remaining 12 have continued in business, but each has fallen substantially in its standing. The challenge for organizations today is the transformation of its culture so that organization can endure and grow though current revolution. The author gives an extension of the IBM example above; stating IBM survived the past due to a very successful business model but as the environment shifted, it failed; now IBM is developing a new business model to survive with the top leaders, its fate is discusses later in this subdivision. The only way to change quickly an organization must meet the customer demands, stay technologically competent, effectively deal with competition and respond to the pressures of change both from within and without. This Figure 8 below from (Schumann Prestwood, 1994, p. 10) explains how the existence of a strong organizational culture ensures the resistance of the organization to change. The authors argument is completed with a point that culture must have built into a flexible methodology for change, comprising of components like: A clear and compelling vision, strategic planning for the operation, technology and people, integrative management approaches etc. For those cases where change was not anticipated, a strong but flexible culture will enable a rapid response. (Cameron Quinn, 1999, p. 6) Have also written an exceptional piece of work, their book gives a wide view of how the current literature claims an organization works and how it actually works. Author supports the view point culture can be manipulated. Since its long term, a strategy must be developed for changing it. The article claims that between managing and manipulating culture culture can be managed point of view always leads to the downfall of a company. Out of the largest 100 Companies in the 1900s only 16 are still in existence. Of the firms on Fortune Magazines first list of 500 biggest companies, only 29 firms would still be included. During the last decade, 46 percent of Fortune 500 dropped off the list. Author writes that A musical greeting card that plays Happy Birthday has more computer power than existed in the entire world before 1950. The average watch contains more computing power than existed in the entire world before 1960. Such rapid and dramatic change implies that no organization can remain the same for long and survive. Top companies on the Fortune Magazine failed due to slow, laggard or wrongheaded change efforts. The companies in 1991 spent more money on computing and communications gear than the combined monies spent on industrial, farm, construction equipment etc And in the 1960s, approximately half of the workers in industrialized countries were involved in making things, by the year 2000, it is estimated that no developed country will have more than one eighth of its workforce in the traditional roles of making and moving goods. (Cameron Quinn, 1999, p. 6) Culture looks like its thought of as how things are done around here sometimes it remains undetectable as employees dont realise this practise. The current challenge for an organization is not to determine whether or not to change, but how to change in order to increase organizational effectiveness. (Banish Nawaz, 2003, p. 19) have given further explanation on the IBM issue, during the Great Depression of the 1930s IBM survived the impact and grew as it received a steady income from the business machinery that was leased or rented, at the same time CEO Thomas J. Watson, Jr. (1990) started benefits and vacations for his employees that paid off in 1936 when they started supplying to the US government. IBM remained successful as employees didnt stay at the organization for employment but for security and way of life. IBM was successful in managing its culture until 1980s but a cultural change was desperately needed. In the 1980s IBM got a culture change. Louis V. Gerstner (2002) was appointed the new CEO in 1993 to manipulate change and he states (Banish Nawaz, 2003) Culture isnt just one aspect of the game it is the game Gerstners states Management doesnt change culture, management invites the workforce itself to change the culture. (Cummings Worley, 2009, p. 522) gives some example. Company with a difficult but successful culture change can be Alberto Culver (Manufacturing Skin and Hair Products) where process took 6 to 15 years, in some cases managing culture isnt the answer changing it is, for example the Disney case; when they tried to export the same culture to euro Disney, the European people preferred to drink wine with their meal and Disneys not serving alcohol policy resulted in low attendance for both labour and customers. Four seasons hotel and resort were on the same track but were successful as they just changed their norms, procedures and artefacts to fit with the French culture and keeping their core values same. Managing culture and manipulating culture (despite its drawbacks) are often the only 2 options considered in an organization even by many theorists. The third subdivision below isnt even mentioned as an option to consider. Finally the third sub-division that claims that culture cannot be consciously changed seems a little untrue but well supported, very little information is available for this subdivision According (Ogbonna Harris, 1998, p. 274) this subdivision argues that whilst the culture of organization can and does change, the direction, impact and sustainability of the change cannot be subject to the conscious action of management. (Senior Swailes, 2010) claims that this presents problems for change agents who will perhaps need some external and perhaps unpredictable forces to make it happen. Author (Meek, 1988) writes, what culture cannot be consciously changed actually means, he/she states that Social theorists use the term culture to embrace all that is human within the organization. They emphasize culture, either consciously or unconsciously, in such a way as to blur or hide problems and contradictions inherent in the social structure. Both culture and social structure are abstractions, not tangible entities. The author firmly sticks to the argument that culture cannot be consciously changed and writes that culture can be managed or changed views seem valid because many discipline copy concepts from another discipline which results in concepts becoming a stereotype. Author (Turner 1986) cited by (Meek, 1988) gives the idea that culture is the collectible consciousness of the organization, owned by the management and available to management for manipulation; this is also thought by many authors. Author (Meek, 1988) contradicts this stating that concepts have been copied (as stated above) and theories of organizational culture have their roots in structural-functionalism, but they have been mutated; in the process of application. Culture as a whole cannot be manipulated, turned on and off, although it needs to be recognized that some are in a better position than others to attempt to intentionally influence aspects of it (Meek, 1988). To compare this with the other 2 subdivisions, it seems a little true, but culture may be manipulated subdivision has provided some evidence of such effect. Conclusion To conclude organizations fate depends on the culture, weak or strong and all three subdivisions have been justified beautifully by various author. Managing culture seems genuine with many theorists providing theory on how to avoid any cultural change but 2nd subdivision as the name suggests Research which claims that culture may be manipulated has provided evidence of organizations on how manipulating culture is the only way to survive, the 3rd subdivision seems to be a third side to a two sided coin, where authors explain how various authors have copied and altered studies. All together this essay gives a great idea about culture and its change subdivisions. I personally feel that manipulating culture is the way to go, can managers change an organizations culture? Yes for instance the Euro Disney and Four seasons hotel case and also with the technological advancements and pressure of external factors, no organization can stay the same and survive. Overall this essay comprising of s mall parts has shown a big picture about cultural change.

Individuals Suffering from Alcohol/Substance Abuse and Mental Illness E

Individuals Suffering from Alcohol/Substance Abuse and Mental Illness In this day in age, there are many diseases that one can contract. Sometimes a person contracts a disease because it was contagious, and others because they are genetically prone to it. Still others contract diseases and disorders in ways that are not clear to doctors and medical researchers. In recent years, alcoholism and substance abuse have been labeled as diseases because of new research findings that doctors have discovered regarding the biological and psychological factors causing someone to become an alcoholic or a substance abuser. Anyone who has a friend of family member who suffers from any form of substance abuse knows the extreme difficulty of helping the suffering individual seek help and recover. The same goes for individuals suffering from a mental illness. In the past two decades doctors have discovered that at least 50 percent of mental ill individuals in this country also suffer from either alcoholism or substance abuse. (4) Some studies indicate that this percentage translates to 7.2 million individuals between the ages of 18 and 54 are suffering from both a substance abuse problem and a mental illness. (2) These numbers are simply staggering. Many of these numbers apply to the adolescent demographic in particular, who the National Alliance for the Mentally Ill (NAMI) say are most prone to having a mental illness "...that may in fact lead to self-medicating with street drugs and alcohol." (1) NAMI's fact sheet on Dual Diagnosis also states that mental health professionals are discovering Dual Diagnosis in such high rates that they have come to expect that individuals with a substance abuse problem will also have a p... ...sorder by the general population, it will become easier to identify multiple problems in an individual family member or friend, and aid them in seeking treatment. Sources Ccited: 1) National Alliance for the Mentally Ill (NAMI), general information on Dual Diagnosis http://www.nami.org/Template.cfm?Section=Child_and_Adolescent_Action_Center 2) The Dual Diagnosis Pages , Dual Diagnosis Conference Reports http://www.toad.net/~arcturus/dd/pepp2.htm 3) Kathleen Sciacca's website , leading resource on treatment methods and program sites http://users.erols.com/ksciacca/ 4) National Alliance for the Mentally Ill , Fact Sheet on Dual Diagnosis http://www.nami.org/Template.cfm?Section=By_Illness&Template=/TaggedPage/TaggedPageDisplay.cfm&TPLID=54&ContentID=23049 5) About.com article on Dual Diagnosis http://alcoholism.about.com/cs/dual/a/aa981209.htm Individuals Suffering from Alcohol/Substance Abuse and Mental Illness E Individuals Suffering from Alcohol/Substance Abuse and Mental Illness In this day in age, there are many diseases that one can contract. Sometimes a person contracts a disease because it was contagious, and others because they are genetically prone to it. Still others contract diseases and disorders in ways that are not clear to doctors and medical researchers. In recent years, alcoholism and substance abuse have been labeled as diseases because of new research findings that doctors have discovered regarding the biological and psychological factors causing someone to become an alcoholic or a substance abuser. Anyone who has a friend of family member who suffers from any form of substance abuse knows the extreme difficulty of helping the suffering individual seek help and recover. The same goes for individuals suffering from a mental illness. In the past two decades doctors have discovered that at least 50 percent of mental ill individuals in this country also suffer from either alcoholism or substance abuse. (4) Some studies indicate that this percentage translates to 7.2 million individuals between the ages of 18 and 54 are suffering from both a substance abuse problem and a mental illness. (2) These numbers are simply staggering. Many of these numbers apply to the adolescent demographic in particular, who the National Alliance for the Mentally Ill (NAMI) say are most prone to having a mental illness "...that may in fact lead to self-medicating with street drugs and alcohol." (1) NAMI's fact sheet on Dual Diagnosis also states that mental health professionals are discovering Dual Diagnosis in such high rates that they have come to expect that individuals with a substance abuse problem will also have a p... ...sorder by the general population, it will become easier to identify multiple problems in an individual family member or friend, and aid them in seeking treatment. Sources Ccited: 1) National Alliance for the Mentally Ill (NAMI), general information on Dual Diagnosis http://www.nami.org/Template.cfm?Section=Child_and_Adolescent_Action_Center 2) The Dual Diagnosis Pages , Dual Diagnosis Conference Reports http://www.toad.net/~arcturus/dd/pepp2.htm 3) Kathleen Sciacca's website , leading resource on treatment methods and program sites http://users.erols.com/ksciacca/ 4) National Alliance for the Mentally Ill , Fact Sheet on Dual Diagnosis http://www.nami.org/Template.cfm?Section=By_Illness&Template=/TaggedPage/TaggedPageDisplay.cfm&TPLID=54&ContentID=23049 5) About.com article on Dual Diagnosis http://alcoholism.about.com/cs/dual/a/aa981209.htm

Singapore Essay example -- Politics, Social Control

Can Singapore be described in terms of a Foucauldian ‘disciplinary society’ or a Deleuzian ‘control society’? Deleuze proposed that we are in the midst of shift from Foucault’s ‘society of discipline’ to a ‘society of control’ (1992: 3). Unlike the ‘disciplinary society’ where subjects progress from one ‘moulding’ institution to another (schools, college, factories, offices, etc.), a ‘control society’ is typified by constant modulation (Wise, 2002: 32). According to Rose, control operates by affiliating subjects to a variety of practices which by design encourage adherence to certain norms in modern liberal societies (2000: 325). This is what Deleuze meant by a ‘society of control’. Best believes we need to adopt the Deleuzian concept of a ‘control society’ to explain the societies emerging in the context of the increased surveillance and network capacity perm itted by new ICTs (2010: 9). On the other hand, Hardt and Negri propose this ‘society of control’ is simply an 'intensification and generalisation of the normalising apparatuses of disciplinarity', that now reaching beyond the institutions that initiated them and into fluctuating networks (2000: 23). Likewise, Munro believes Foucault’s disciplinary mechanism need updating to bring it in-line with the capacities of modern technologies, not replacing (2000: 693). It is necessary to distinguish between unconscious social control and social control in relation to the institution, the latter being the planned management of a socialised human activity (Lianos, 2003: 415). Institutional control is integral to the specific activities, is usually bureaucratic, and 'is part both of the rationale and the outcome of these activities' (Lianos, 2003: 415). Lianos uses the example of... ... Google offers 'free' storage space, along with other privileges and useful tools, in exchange for personal information that it might use to market targeted goods to its users (Andrejevic, 2007: 296). People submitted their details to Google and Facebook not out of fear or a sense of duty, but so they may enjoy the benefits offered. Although Singaporeans do value their privacy, they are willing to submit that privacy in exchange for financial rewards or convenience (Hui et al., 2007: 27). These authors also report a growing disgruntlement at the increasing amounts of information that websites are demanding. However, it was the quantity of information requested, rather than the sensitivity of the information that had any significant influence on compliance (Hui et al., 2007: 27). This certainly aligns with the ‘enticement model’ proposed by Whitaker (1999: 141).

Development of Children and Young People Between Birth to 19

All children are different and develop at their own pace. The rate of development varies in children even though the pattern in which they will develop will be the same. Physical, social and emotional, intellectual and language are the areas of development. Physical development Physical development from birth to three years is a rapid process. A child by the age of six months is able to move their head when hearing sound and movement and able to reach for their feet when lying on their back. They try and grasp object. When given a rattle they hold and shake it.From six months onwards a child learns to sit up using support until they can manage without any support and eventually learning to crawl or shuffling on their bottoms. They are able to rollover from their tummies on to their backs and vice versa. They start to hold on to furniture learning how to walk along or by using the aid of a baby walker, up until they gain the confidence to walk alone. Their hand and eye coordination im proves as they learn to pass an object from one hand to another, and begin to show preference for one hand. They learn to play with bricks.Firstly banging them together to being able to build towers, eventually building larger towers. By the age of two children will have learnt how to sit, walk, feed themselves and they will have moved from eating soft mashed food to eating solids, as sign of their teeth will be clearly visible. They will have learnt to kick and throw a ball. They will be able to grasp a pencil to make scribble on paper. From three to seven a child is more independent. Learning how to jump, climb, catch and walk up and down stairs confidently. They learn to pedal and eventually ride a bike without support.Using their fine motor skills to hold and use a pair of scissors, able to gain control of a pencil. Increasing in their writing skill. Can also fasten and undo buttons and shoe laces. From the age seven to twelve years a child will progress in running, jumping skip ping and enjoying playing games as a team, even though they may misjudge their ability until the age of nine. Between twelve and nineteen a child goes from childhood into adulthood. This is referred to the adolescences stage. This starts from the age of 11 up until the age of 19 or 20.It’s the stage that teenagers learn to detach from their parents and become more independent. Every child rate of growth is different. Boys normally begin adolescence around the age of 14 year, which is later than girls, even though by the end they are usually bigger than girls. They will develop body hair as their body shape changes, their muscles begin to grow, increasing their strength. Their voice will change and become deeper. In the early stages to mid stages of puberty testicles and scrotum will begin to grow. Penis growth starts later but continues for longer.Girl’s breasts start to swell from around the age of 10. They will also develop hair in the pubic region that will become d ark and curly. Their body shape will change. Some girls may be physically mature by the age of 13. This is dependent on the age at which she begins puberty, which varies, ranging from 8 until late teens. The average age for girls of menstruation is around 13. Social and emotional development. From birth to about one year old a child mainly communicates through facial expressions such as smiling at familiar faces. A child of this is very dependant and requires comfort from an adult.They recognise familiar faces and get distressed when separated from a parent. They enjoy interacting and playing games such as peek-a-boo and they gradually develop a sense of identity and want to do things for them self. They easily get jealous when attention is not given to them and try to please adults. Temper tantrums start when not being given what they want or not wanting to share toys. From three to four years a child is more self-motivated and is able to cope with unfamiliar settings and adults. T hey know how to share, becoming considerate and caring of other feelings. They enjoy playing with other children.Between four and seven a child is able to make friends but still finds it difficult to take turns and needs help resolving problems. By this age a child should have a stable environment and routine, they need to have limits set. By the age of seven a child becomes less dependant. Starting to enjoy playing with other children. They become aware of their gender and develop understanding between right and wrong. By the age of eight they develop a close friendship and enjoy playing with the same sex. By twelve they can start to show arrogance and bossiness and are uncertain sometimes.By the time a child reaches the teenage years they are very self-conscious. As their body shape is changing and odours make occur, acne may develop due to oily skin. They begin to follow peer groups in the way they dress having labelled clothing, collecting the same things playing the same games. They turn to their friend and not to their parents for approval. They begin to question certain aspects of life such as parental and community values and beliefs. Intellectual development A child between the ages of birth to three is more confident but still needs an adults support.They enjoy copying others and trying out different ways of behaviour in play. They realise that others are spate people from themselves. From three to four a child learns to understand two or three simple tasks that they are given to do such as pick up the toys put them in back in the box and put the box where it belongs. They begin to realise the difference between objects, size and type and are able to group these together. From five to seven they learn to understand that there is differences and sameness in various aspects in life and that differences can co exist side by side and are able look at things from different perspectives.By the age of seven, children are able to read to themselves and will take a lively interest in certain subject by the age of nine. During the adolescence stage the mind is maturing as young people begin to develop a sense of responsibility for their thoughts, words and actions. They begin to plan about their future and what line of work they want to be in? If they want to get married and have children? They gain the ability to make a link between different pieces of knowledge and the ability to make links of these with the world from their perspective. This stage depends on the guidance given to young people in respects to helping the brain.A young person learns to take the responsibility for his or her own fiances, accommodation, employment and personal realationshops. This reaches completion as the responsibility from parent transfers to the young person. Language development From the early stages in life a child is able to make a lot different sounds. They begin to babble. Laughing and squealing when they are happy and cry to show emotion. They re spond to music and sounds. Trying to imitate a parents face especially the mouth. Between one and two years a child learns to use single words to joining them up to make phrases.They begin to understand parents and try and copy them. By the age of two a child’s vocabulary can be anything from 30 to 150 words. By the time they are three a child can use words to form a sentence and begin to ask questions. They are able to memorise rhymes and songs and are able to join in and are able to scribble on paper. From three to four a child starts to use past tense and is able to use a different pitch or tone of voice. Their vocabulary extends between 1000 to 1500 word. From five upwards their questions become more complex as they use language to communicate their ideas.The pencil control improves. As they copy shapes and letters. By the age of seven they are able to speak fluently and make up stories. They begin to understand letters and link them to sounds. A child of twelve years is able to describe complicated scenarios. They need help in tackling complex spellings and learning the different tense of grammar. They are able read out aloud. From twelve on to nineteen years a young person begins to use sarcasm, joking and mockery as it is new and sophisticated language for them. They are maturing and enjoy using their thought to debate whether it is formal or informal.

Amazon.Com (Strategy)

In order to accomplish their company goal -to become the world's largest online retail store†-, it versified its operation to include the retailing of toys, electronics, music, and other consumer goods. Through this paper, we first aim to analyses the internal capabilities of Amazon as an organization and discuss a sustainable future trend for the organization to follow. The analysis which follows is aimed to first identify Amazon. Coma's Internal strategic capabilities explained as ‘resources' & secondly ‘competencies' (which will be aimed to summaries the manner in which the Identified resources are deployed to effective use). . 1 The ‘Resource Based View' will be used s the strategic tool to hence sum up the firm's Internal strategic capability. Strategic capableness of a firm would be defined as Its resources & competencies to survive and prosper in the business environment. We will first begin by identifying the tangible & intangible resources of Amazon. Com. Typically, its resources can be considered under the following broad categories – Physical resources – Amazon's many fulfillment distribution centers were strategically located near the main airports of the cities it operated in.Such choice of strategic location of distribution centers not only improved efficiency but also effectively erring the operating costs thereby enabling the company to offer lower prices to its customers. Differentiated Into two, Other non-tangible resources can be Internal non- material: continual enhancement of customer experience on the website through continuous Software and technology development External non-material – this included the positive image of the Amazon's brand name as a result of a customer base running into millions and the company's Associate Program.Human Resources – Amazon always took a tactical approach to employing its staff. Amazon's global work force comprised of 20,700 employees. Its top brass manag ement included names such as Richard Dalzell (previously Vice- President of Wall-Mart) who bought in expertise in supply chain management, international retailing, data mining systems and merchandising & logistic systems. Other senior managers had been recruited from various companies such as Apple, Microsoft and Laddering, whom added value with their various skills & capableness to the firm.The founder of Amazon, Jeff Bozos himself was a Princeton graduate with previous experience as the Senior Vice-President of D. E. Shaw, a Wall Street hedge fund firm. From which he exploited the Information he rendered about the incredible growth of the internet retail industry which was prelate to grow at a mammoth 23 per Mont Financial Resources – By 2008, Amazon had a market capitalization of $29. 4 billion with its net profit growing from $190 million in 2006 to $645 million in 2008.Amazon was also able to maintain a strong cash flow position to enable the company focus on its ‘ Long term sustainable growth' of the firm by investment in continuous technological innovation. It achieved by substantial increase in its working capital via offering shorter credit terms to its consumers and longer payment terms to its appliers with the value been typically 26 days. How Amazon has really deployed its resources, gives it unique capabilities that the competitors would find hard to imitate. This is primarily as the firm has resources that critically underpin competitive advantage that others cannot obtain.The efficiency of a firm does not just end on it possessing large capital, physical resources, good work force or an advanced technological platform but how they are managed and deployed. The below analysis is aimed at depicting how well Amazon has exploited its resources to command the market they are in. 2. 2 Another method of analysis e think as appropriate for this case study is the, The Value chain which describes the activities within and around the organizati on that help create a product or service.It helps analyses the organization in terms of a set of activities which managers undertake to create value for its consumers. This analysis will help us conclude how well Amazon functions as firm to be competitive in the industry – Primary Activities: Are directly related to creation/delivery of product Inbound Logistics: Receiving, Storing and Distributing Inputs to product. Amazon tied up with numerous leading companies that offered their final goods and services to hem which could be sold through the Amazon forum. It added different brands on a worldwide level which helped the company gain popularity.Operations: Amazon's frustration-free packing is the transformation of the final goods to a deliverable condition to the end user which created an image in the consumers mind as an initiative to be consumer friendly. Outbound Logistics: Distribution of Product to Customers. Amazon strategically placed their centers near airports and in larger cities as Products needed to be physically shipped to customers. They have done well in acquiring land in convenient locations and hence eve on transportation costs thereby benefiting the end consumer with lower prices on the end product.Marketing and Sales: Sales and Awareness of Product. Amazon sells their product through the Amazon website, retail websites and Amazon web services to their different customers. They sold shoes and handbags through a website called Endless. Com. They also launched their Jewelry and Watch stores in the I-J, German, France and Japan and launched its Office Supplies Stores in 2008. Other expansions included Automobile parts that were made available at a single destination which provided arts from all top brands; Software en Espanola Store and PC Casual Gaming Store.Amazon made it clear that they are looking at customer convenience whilst selling their products. They made all their products available at a single destination or forum at relativel y low prices. This also gave customers a wide range of selection which enabled them to compare and contrast different products and brands. Service: Enhance or maintain value of product. Amazon emphasized on quality service to customers. I nee always looked to alt I T ten easels AT customers Ana nonce create a product line based on customer needs rather than their specialization and revived after sale-services via email to keep them happy.Support Activities: Help to improve effectiveness and efficiency of primary activities. Procurement: Acquisition of resource inputs. Amazon is not involved in the actual production of the product. Technology Development: R&D, process/product development. Amazon always looked to innovate and test out new markets through continual investments in technology. This reduced costs and improved efficiency. An investment in R&D meant that it could add further value to the customer experience through recommendations of similar products and acting as a virtual legman which was available at the customer's fingertips.Segmentation was also not required as each customer that logged in gave Amazon an idea as to which sector he/she is interested in. It also helped Amazon diversify to different markets with the introduction of Kindle, Amazon Web Services and Digital Content Offerings. An improving technology base reflected high growths and cost reductions annually. An emphasis on technology meant that Amazon always looked at long term benefits. Human Resource Management: Recruitment, Training and Developing skills of staff. Amazon focused a lot on recruitment.They brought in an experienced management team headed by Richard Dalzell who is highly qualified in several fields. They required managers with expertise in computer software and were recruited from companies such as Apple and Microsoft. This was essential as any website-based company requires a strong management team with expert knowledge and capable of satisfying the customer needs as we ll as maintaining a strong foothold in the market. Amazon did a fantastic Job in attaining the services of such experienced and qualified personnel which has been one of the key reasons to their success.Infrastructure: Formal planning, Finance and Structure of Organization. Amazon initially acquired finance from a private investment from Bozos and Silicon Valley funding. They also raised capital through an PIP. Technology plays a huge part as they are structured on heavy investments in R&D sector. Amazon's infrastructure is fairly sound. They are a capital intensive company and the figures show that they are achieving high growth, sales and profit levels which enables them further investment and diversification opportunities.Generic Activities: Merging a Cluster of activities that benefit customers. Amazon business model is a cluster of activities. As Amazon does not assemble the final Product and simply enters into a contract with the brand that does produce it, it should primarily focus on satisfying customer needs with heavy sales, marketing schemes and after sale services. Technology and human resource management play an essential role in achieving these goals. Amazon has a successful Value chain which has laid the platform for future success as well.Its weakness obviously lies with the fact that it doesn't manufacture the goods directly but has to rely on various vendors for the end product. Such reliance can cause issues of dry supply for a product in high demand. 2. 3 Amazon initially ventured out as a firm with an aim to become the world's biggest and best online bookstore' which it successfully achieved a few years after it was set-up. However in order to maintain a sustainable growth, a competitive advantage, became necessary Tort Amazon to expand ten Dustless Deanna online KICK retailing.I nose Nellie teem in managing costs efficiently and achieve a competitor's advantage over other aspiring firms As Amazon's marketing activities spread quickly acro ss the world, the intention level increase as well. In order to survive and keep sustaining in the global market, it is pertinent for Amazon to enhance its capabilities and competitive advantages. Since the company was established in 1994, it has continued to expand and achieve some sustainable competitive advantages.Value of strategic capabilities One of the key factors needed to ensure an organization is successful in the global market is to provide products that add value to customers, which gives them an incentive to pay a premium price for its products. As long as customers feel they are aging advantage of the prices of Amazon's products or services, which leads to consumer satisfaction and brand loyalty. The idea of Amazon's customer strategy called ‘customer-centric' consists of three kind of consumers – ‘Consumer customers, Seller customers and Developer customers'.It is wise for Amazon to focus on the satisfaction of all these customer groups who add valu e to them on the basis of distinctive capability which competition is unable to offer. However, the company should not only consider the value to customers, but also it needs to ensure the organization's activities have a positive investment return. When Amazon uses advanced technology to provide their customers convenience services, it is necessary for the company to take into account all the cost related to such an activity to enable it make financial projections.According to the case, in 2008, the activities of investment and expenses were supported by Amazon's shareholders due to positive returns being delivered to the market. Rarity of strategic capabilities If a company possesses a unique or rare resource, it is described absolute competitive advantage for this company. Amazon makes invests a fair bit to Research ND Development of Technology. It is the company's belief that this emphasis on development of advanced technology will give them an edge over other organizations. Com petition has found it difficult to imitate Amazon in this sphere.However, the rarity could be temporary, especially under this modern business circumstances. Other organizations might figure out the same technologies and strategies eventually, which is why Jeff Bozos lays great emphasis on continuous innovation. Maintainability of strategic capabilities Possessing advanced technology and skills are not enough to sustain a company's success. Strong maintainability ensures the creation of sustainable competitive advantages for a company. Organizations are able to differentiate themselves from their competitors by developing activities focused on customer needs.For example, Amazon attracted its initial customer base via its online bookstore, and then went ahead to expand its product categories such as electronics, beauty and digital media. The speed of expansion of Amazon's products globally via its international network created barriers to imitation by other competitors. Non-substitut ability of strategic capabilities An important competitive advantage is a low level of substitution. Using the five forces model to analyze we observe that substitutes will create an effective threat when the price and performance of the substitute is more valuable for customers.There are two dimensions in this area. Firstly, the company needs to consider possible product or service stimulation Trot a Deterrent Ministry. Amazon Autocue on online retailing, its direct substitute threats are mainly from â€Å"off-line† stores as Customers may prefer purchasing products from stores rather than waiting for few days for their goods in the post. Secondly, if the company struggles at the competence level, the organization could lose customers due to dissatisfaction .Amazon has several direct and indirect competitors in the global market, a possible threat to the company is the possibility of these competitors offering customers better products or services and being more efficient in their services provided. Although widening its business beyond online book selling could increase Amazon's strategic capabilities and competitive advantages in the global market to achieve sustainable success, it is not advisable to digress completely from the initial goal of he company to . The original vision of Amazon has in most parts been fulfilled, as it has a major market share in the online bookstore industry.Nowadays, Amazon. Com has an online marketplace for books with over 110 million primarily used all over the world and with millions of people Joining through its global websites 2. 4 Recommendation & Conclusion Amazon. Com is currently one of the finest in its industry. It has created a bundle of resources & strategic capabilities that has enabled it to build multiple sources of sustainable competitive advantage. The company though needs to block opportunities for its impetuous like Microsoft aspiring to create a substitute who took advantage of Amazon's ‘Rigidit ies'.This should be considered as a potential threat which may account for their decrease in growth. Amazon's emphasis upon technological innovation has enabled it to launch new sites that serve customers with specific needs. Strategic alliances & acquisitions have been a key method for the company to penetrate the market by offering a wider choice of goods and services. This strategic capability could be enhanced and developed further to gain a wider share of the market for sustainable competitive advantage & is thus directing the company towards a route of diversification.We believe that focusing on Just online retail of books, would limit the growth of the company to only one product in a wide industry. However focusing on all with equal emphasis and with scope of enhancing the customer experience will give the company a positive platform of growth. It has already achieved the strong foothold in the online retail of books which it should endeavourer to consistently maintain but a t the same time exploit other avenues which the wide industry has to offer

Procter and Gamble Company Essay

Background Procter and Gamble was formed by James Gamble & William Procter in 1837 by a candle manufacturer Procter and a soap manufacturer Gamble. This consumer product company started with a vision to grow to a $33 billion company and by 1879 it started selling its products directly to the consumers, by 1890 it has gained its legal corporation and ever since it has doubled it sales every ten years. P&G growth was driven by innovation not optimization. Radical innovation served as their backbone to success with other factors such as geographic expansion, product line extensions and acquisitions contributing to its growth. Some of its famous and successful acquisitions were, Duncan Hines, Clorox, charmin Paper mills, Folgers Coffee, NorwichEaton, Vicks (NyQuil), Noxell and Max Factor. It also recieves  the credit for developing innovative and advanced technology based products during 1940’s such as Tide, Crest,Pampers, Bounce etc.By the end of 1980’s P&G had its operations in 58 countries,its reputation was built with its new product development strategiesÍ ¾ they produced varied range of consumer products such that these products should meet â€Å"basic consumer needs† and create â€Å"superior total value† creating a brand image for the company. As noted in Kevin Kelly’s quote â€Å"Wealth in new regime flows directly from innovation and not optimization†, i.e. wealth is not gained by perfecting the known, but imperfecting the unknown. P&G successfully used this strategy to earn its reputation as one of the largest company in Cincinnati in 1895 and in 1995 earned the National Medal of technology, the highest given award in United states. P&G was also known for its strong ethics, values and recruiting the best and brightest. R&D was a major focus of P&G. In 1995 P&G spent 1.3billion on R&D,and emphasis was laid on combination of multiple R&D competencies and there were a lot of cross fertilization of technology. They also had an attractive work culture, employee compensation and had a structure in place which assured employees of growing within the organization with its up through the rank approach which fostered innovation. In the process of growing, P&G moved out of their old tradition of new product development and concentrated completely on the global expansion and development of existing products. With structured product  sectors in place, P&G had some difficulty fitting some new product idea into any of the available category which led to the rejection on various novel ideas. In 1993, the company started the Strengthening Global Effectiveness (SGE) with the goal of increasing profits through cost reduction which was achieved by reengineering  and reformation of distribution and manufacturing. This led to a successful increase in profits from 10% to 17% in a year. In the same year, CEO John Pepper said that their was an urge for developments of new brands in order to fulfill the companies longtime goals of increasing their sales. Mark Collar, Vice President and General Manager of New Business Development and a part of SGE said that a breakthrough is required to manage and accelerate the company’s innovation process. In addition, the concept of cross fertilization was fading out gradually so their was a requirement of a new innovation team that can incorporate the old traditions followed by the company during the 1960’s. Therefore this lead to the formation of Innovation Leadership Team (ILT) in 1993. The top seven officers of the company were a part of this team: John Pepper(Chairman and CEO)Í ¾ Durk Jager(President and COO)Í ¾ Wolfgang Berndt(Executive VP North America)Í ¾ Gordon Brunner(Senior VP Research and Development)Í ¾ Gary Martin(Senior VP Information Services and Product Supply) and Eric Nelson(Senior VP and CFO)Í ¾ Robert Wehling (Senior VP Advertising and Market Research). The ILT’s responsibility is to investigate the portfolio of the projects under development and projects on shelf, select valuable projects that add value to the firm. Soon Corporate Innovation Fund(CIF) was established for the funding the research on new products developments. The employees can report projects irrespective of their sector and obtain approval at very fast pace on appropriate projects.

Advantages Of Unit Banking Essay

1.Local Development:Unit banking is localized banking. The unit bank has the specialised knowledge of the local problems and serves the requirements of the local people in a better manner than branch banking. The funds of the locality are utilised for the local development and are not transferred to other areas 2.Promotes Regional Balance:Under unit banking system, there is no transfer of resources from rural and backward areas to the big industrial commercial centres. This tends to reduce regional in balance. 3.Easy Management:The management and supervision of a unit bank is much easier and more effective than that under branch banking system. There are less chances of fraud and irregularities in the financial management of the unit banks. 4.Initiative in Banking Business:Unit banks have full knowledge of and greater involvement in the local problems. They are in a position to take initiative to tackle these problems through financial help. 5.No Monopolistic Tendencies:Unit banks are generally of small size. Thus, there is no possibility of generating monopolistic tendencies under unit banking system. 6.No Inefficient Branches:Under unit banking system, weak and inefficient branches are automatically eliminated. No protection is provided to such banks. 7.No diseconomies of Large Scale Operations:Unit banking is free from the diseconomies and problems of large-scale operations which are generally experienced by the branch banks. 8.Easy Management and Control:Under unit banking system, it becomes very easy for a single office to manage and control efficiently. 9.Close Management and Workers Relationship:Under unit banking system, there prevails a close and cordial relationship between employer and employees. 10.Quick Decision:The owners or the management of unit banks can take quick decision and prompt action in times of emergencies. 11.Use of Local Resources:Local financial resources are used for local development. 12.Lesser Fraud and Irregularities:Due to the less scattered affairs of the bank, there are very little possibilities of fraud and irregularities. Disadvantages Of Unit Banking: 1.No. Distribution of Risks:Under unit banking, the bank operations are highly localised. Therefore, there is little possibility of distribution and diversification of risks in various areas and industries. 2.Inability to Face Crisis:Limited resources of the unit banks also restrict their ability  to face financial crisis. These banks are not in a position to stand a sudden rush of withdrawals. 3.No Banking Development in Backward Areas:Unit banks, because of their limits resources, cannot afford to open uneconomic banking business is smaller towns and rural area. As such, these area remain unbanked. 4.Lack of Specialization:Unit banks, because of their small size, are not able to introduce, and get advantages of, division of labor and specialization. Such banks cannot afford to employ highly trained and specialized staff. 5.Costly Remittance of Funds:A unit bank has no branches at other place. As a result, it has to depend upon the correspondent banks for transfer of funds which is very expensive. 6.Disparity in Interest Rates:Since easy and cheap movement of does not exist under the unit banking system, interest rates vary considerably at different places. 7.Local Pressures:Since unit banks are highly localised in their business, local pressures and interferences generally disrupt their normal functioning. 8.Undesirable Competition:Unit banks are independently run by different managements. This results in undesirable competition among different unit banks. 9.Limited Size of Operation:Unit bank business can not be operated on large scale because of its limited area. Being the small organisation, division of labour can not be applied. 10.No Economy of Reserves:Under unit banking, bank can not transfer its funds to any other branch. So economy in cash reserve can not be secured under this system. 11.Limited Financial Resources:A unit bank has limited financial resources so it is not able to provide full and adequate banking facilities to the industry and trade of the area. 12.Investment of Idle Funds:A unit bank having no other branches, can not utilize its idle funds in profitable ways.

How to Select a College Admissions Counselor

In light of the recent admissions scandal, there’s a pervasive belief that using a college admissions counselor is the purview of the rich and famous. However, the truth is that it’s not just actors and actresses who are soliciting the services of counselors. On the contrary, a large percentage of parents from all social strata are hiring private college consultants to assist their children on the college journey. It’s hard to say exactly how many students use the services of college counselors each year. According to a survey conducted by marketing firm Lipman Hearne, 26 percent of students who scored in the 70th percentile or higher on the SAT admitted to using a private college counselor. However, it’s possible that this number is significantly higher, and some students simply don’t feel comfortable admitting seeking help. While dishonest companies like Edge College & Career Network, the business at the center of the admissions scandal, are the exception rather than the rule, it pays to do your homework when selecting a college admissions counselor. Read on to discover what types of admissions counselors are out there, along with questions to ask potential consultants. It’s not just the wealthy who can benefit from college education counselors. On the contrary, these experts help a wide array of high school students gain admission to their dream colleges. In particular, the services are beneficial to those with specific or niche passions, such as athletics or musical theater. Additionally, college counselors can help students identify lesser-known schools that have strong programs in their chosen majors. College counselors also provide valuable services to families of students with learning disabilities and other educational challenges. Along with ensuring students have the appropriate amount of time for SAT and ACT testing, consultants can work with you to identify schools that offer the best and most supportive programs for your teen’s needs and goals. Parents seeking college admissions support for their teens can generally choose between two different options: IECs and consulting firms. Also known as independent educational consultants, IECs help students throughout the application process. Along with supporting students in identifying the best reach, target, and safety schools, they offer information on financial aid and scholarships and provide feedback on admissions essays. In most cases, parents drop their teens off at a local IEC’s office to discuss college admissions questions one on one. This in-person support can help both students and parents feel more confident in the process. However, it’s worth noting that most independent educational consultants work with a very limited group of students with similar profiles. As a result, they might not have the up-to-date information needed to support teens from different backgrounds, races, ethnicities, and religions. Estimating your chance of getting into a college is not easy in today’s competitive environment. Thankfully, with our state-of-the-art software and data, we can analyze your academic and extracurricular profile and estimate your chances. Our profile analysis tool can also help you identify the improvement you need to make to enter your dream school. Additionally, independent educational consultants tend to operate with little oversight. Without state or federal agencies looking over their shoulders, some IECs have resorted to less-than-honest practices. This was the case earlier in the month when the U.S. Attorney in the District of Massachusetts brought federal charges against 50 individuals for taking part in a conspiracy to help high schoolers get into elite colleges around the nation. On the other hand, college consulting firms tend to work with a larger group of students, allowing them to utilize the latest data to support a wide range of students from diverse backgrounds. At , we’ve worked with over 10,000 students online, meaning location isn’t a factor in securing aid and we’ve seen a breadth of profiles and decisions. Along with solving college fit issues, firms support teens in selecting the best high school coursework, choosing extracurriculars, and revising their college essays. While IECs mostly work with students who are ready to send out applications, consulting firms, like , know the college journey begins as early as freshman year of high school. So where do you start when choosing an IEC or college consulting firm? The best admissions counselors have prior experience working with students of various backgrounds and profiles.   Because college counseling remains unregulated, students and parents have to do some of their own legwork when choosing a firm. Here are some important questions to ask before selecting a college admissions counselor: Make sure the answer is no to the following: If the answer to either of the last two questions is yes, this company is best avoided. Additionally, teens and their parents should stay away from any firm that offers an acceptance guarantee. The truth is that no reputable admissions counselor can promise to get a student into a particular school, and those who claim to do so may be using unfair, dishonest, or illegal tactics. At , we understand that not every student has access to private school admissions counselors who can walk them through the college application process. With that in mind, we created a program specifically to answer students’ questions about college admissions and help them build robust applicant portfolios. We’ve worked with over 10,000 students and are able to leverage data across all types of profiles and schools. You can meet with us from anywhere. We’re up to date on what is happening in admissions right now at hundreds of schools. We can help you understand your best fit colleges and how to maximize financial aid using data! Whether your goal is to determine which schools to target or boost financial aid, we can help you achieve your goals. To schedule an appointment with our team, call today or contact our College Applications Program online .